Document:

Exhibit 4.31

 

EXECUTION VERSION

 

AGREEMENT BETWEEN NOTEHOLDERS

 

Dated as of July 11, 2019

 

by and between

 

DEUTSCHE BANK AG, NEW YORK BRANCH
(Initial Note A-1 Holder)

 

and

 

DEUTSCHE BANK AG, NEW YORK BRANCH
(Initial Note A-2 Holder)

 

and

 

DEUTSCHE BANK AG, NEW YORK BRANCH
(Initial Note A-3 Holder)

 

and

 

UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York
(Initial Note A-4 Holder)

 

and

 

UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York
(Initial Note A-5 Holder)

 

and

 

UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York
(Initial Note A-6 Holder)

    

    

    
 

CIRE EQUITY RETAIL & INDUSTRIAL PORTFOLIO MORTGAGE LOAN

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THIS AGREEMENT BETWEEN NOTEHOLDERS (“Agreement”), dated as of July 11, 2019, is made by and between DEUTSCHE BANK AG, NEW YORK BRANCH (“DB” and, together with its successors and assigns in interest, in its capacity as initial owner of Note A-1, the “Initial Note A-1 Holder”, and in its capacity as the initial agent, the “Initial Agent”), DB, in its capacity as initial owner of Note A-2 (the “Initial Note A-2 Holder”), DB, in its capacity as initial owner of Note A-3 (the “Initial Note A-3 Holder”), UBS AG, BY AND THROUGH ITS BRANCH OFFICE AT 1285 AVENUE OF THE AMERICAS, NEW YORK, NEW YORK (“UBS AG”, in its capacity as initial owner of Note A-4, the “Initial Note A-4 Holder”), UBS AG, in its capacity as initial owner of Note A-5 (the “Initial Note A-5 Holder”) and UBS AG, in its capacity as initial owner of Note A-6 (the “Initial Note A-6 Holder”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to the Mortgage Loan Agreement (as defined herein) DB and UBS AG co-originated a certain loan described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) (the “Mortgage Loan”) to the mortgage loan borrowers listed on the Mortgage Loan Schedule (collectively, the “Mortgage Loan Borrower”), which is evidenced by, inter alia, by (i) one promissory note in the original principal amount of $30,000,000 (“Note A-1”) made by the Mortgage Loan Borrower in favor of the Initial Note A-1 Holder, (ii) one promissory note in the original principal amount of $25,000,000 (“Note A-2”) made by the Mortgage Loan Borrower in favor of the Initial Note A-2 Holder, (iii) one promissory note in the original principal amount of $22,160,000 (“Note A-3”) made by the Mortgage Loan Borrower in favor of the Initial Note A-3 Holder, (iv) one promissory note in the original principal amount of $22,000,000 (“Note A-4”) made by the Mortgage Loan Borrower in favor of the Initial Note A-4 Holder, (v) one promissory note in the original principal amount of $20,000,000 (“Note A-5”) made by the Mortgage Loan Borrower in favor of the Initial Note A-5 Holder, and (vi) one promissory note in the original principal amount of $9,440,000 (“Note A-6”, and together with Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5, the “Notes”) made by the Mortgage Loan Borrower in favor of the Initial Note A-6 Holder, and secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”) on certain real property located as described on the Mortgage Loan Schedule (the “Mortgaged Property”); and

 

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

 

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

 

Section 1.              Definitions.  References to a “Section” or the “recitals” are, unless otherwise specified, to a Section or the recitals of this Agreement.  Capitalized terms not otherwise defined herein shall have the meaning ascribed thereto in the Servicing Agreement.  Whenever used in this Agreement, the following terms shall have the respective meanings set forth below unless the context clearly requires otherwise.

 

“A Notes” shall mean Note A-1, Note A-2, Note A-3, Note A-4, Note A-5 and Note A-6, either individually or in the aggregate as the context may require.

    

    

    
 

“Activity” shall mean any review, analysis, comfort, verification, manipulation, reorganization, restructuring, recompilation, recomposition, revision or modification of any information or data.

 

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

 

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

 

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

 

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

 

“Agent Office” shall mean the designated office of the Agent in the State of New York, which office at the date of this Agreement is the office of the Initial Note A-1 Holder listed on Exhibit B hereto, and which is the address to which notices to and correspondence with the Agent should be directed.  The Agent may change the address of its designated office by notice to the Noteholders.

 

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

 

“Asset Representations Reviewer” shall mean the asset representations reviewer appointed pursuant to the Lead Securitization.

 

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

 

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

 

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

 

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

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

 

“Borrower Party Affiliate” shall mean, with respect to the Mortgage Loan Borrower, a manager of the Mortgaged Property or a Restricted Mezzanine Holder, (a) any other Person controlling or controlled by or under common control with such Mortgage Loan Borrower, manager or Restricted Mezzanine Holder, as applicable, or (b) any other Person owning, directly or indirectly, 10% or more of the beneficial interests in such Mortgage Loan Borrower, manager or Restricted Mezzanine Holder.  For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Companion Distribution Account” shall have the meaning assigned to the term “serviced whole loan custodial account” in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

 

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

 

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

 

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

 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of an entity, whether through the ability to exercise voting power, by contract or otherwise.

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

 

“Controlling Noteholder” shall mean as of any date of determination the Note A-1 Holder; provided that at any time the Note A-1 is included in the Note A-1 Securitization, references to the “Controlling Noteholder” herein shall mean the Controlling Class Representative or any other party assigned the rights to exercise the rights of the “Controlling Noteholder” hereunder, as and to the extent provided in the Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Initial Note A-1 Principal Balance” shall have the meaning assigned to such term in the Mortgage Loan Schedule.

 

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

 

“Initial Note A-2 Principal Balance” shall have the meaning assigned to such term in the Mortgage Loan Schedule.

 

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

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“Initial Note A-3 Principal Balance” shall have the meaning assigned to such term in the Mortgage Loan Schedule.

 

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

 

“Initial Note A-4 Principal Balance” shall have the meaning assigned to such term in the Mortgage Loan Schedule.

 

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

 

“Initial Note A-5 Principal Balance” shall have the meaning assigned to such term in the Mortgage Loan Schedule.

 

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

 

“Initial Note A-6 Principal Balance” shall have the meaning assigned to such term in the Mortgage Loan Schedule.

 

 “Initial Noteholders” shall mean, collectively, the Initial Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder, the Initial Note A-4 Holder, the Initial Note A-5 Holder and the Initial Note A-6 Holder.

 

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

 

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

 

“Intervening Trust Vehicle” with respect to any Securitization Vehicle that is a CDO, shall mean a trust vehicle or entity which holds the applicable Note as collateral securing

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(in whole or in part) any obligation or security held by such Securitization Vehicle as collateral for the CDO.

 

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

 

“Lead Securitization” shall mean (a) during the period from and after the first Securitization Date and prior to the Note A-1 Securitization Date, the related first Note or portion thereof contributed to a Securitization, and (b) on and after the Note A-1 Securitization Date, the Note A-1 Securitization.

 

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

 

“Lead Securitization Note” shall mean (a) during the period from and after the first Securitization Date and prior to the Note A-1 Securitization Date, the related first Note or portion thereof contributed to a Securitization, and (b) on and after the Note A-1 Securitization Date, Note A-1.

 

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

 

“Lead Securitization Servicing Agreement” shall mean (i) during the period from and after the Securitization Date and prior to the Note A-1 Securitization Date, the related pooling and servicing agreement for the Securitization of the first Note or portion thereof, and (ii) on and after the Note A-1 Securitization Date, the Note A-1 PSA.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

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“Morningstar” shall mean Morningstar Credit Ratings, LLC, or any successor in interest.

 

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

 

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

 

“Mortgage Loan Agreement” shall mean the Loan Agreement, dated as of May 9, 2019, between the Mortgage Loan Borrower and DB and UBS AG, as lenders, as the same may be amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

 

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

 

“Mortgage Loan Borrower Related Party” shall have the meaning assigned to such term in Section 18.

 

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

 

“Mortgage Loan Rate” shall mean, as of any date of determination, the Note A Rate.

 

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

 

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

 

“Non-Controlling Note” shall mean the respective Note held by a Non-Controlling Noteholder.

 

“Non-Controlling Noteholder” shall mean each Noteholder that is not the Controlling Noteholder; provided that, if at any time such Noteholder’s Note is held by (or, at any time such Noteholder’s Note is included in a Securitization, the Non-Lead Securitization Subordinate Class Representative is) a Borrower Party, no Person shall be entitled to exercise the rights of such Non-Controlling Noteholder with respect to such Note.

 

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

 

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

 

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

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Non-Lead Securitization Servicing Agreement” shall mean from and after the date a Non-Lead Securitization Note is included in a Non-Lead Securitization, the pooling and servicing agreement entered into in connection with such Non-Lead Securitization.

 

“Non-Lead Securitization Subordinate Class Representative” shall mean the holders of the majority of the class of securities issued in a Non-Lead Securitization designated as the “controlling class” pursuant to the related Non-Lead Securitization Servicing Agreement or their duly appointed representative.

 

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

 

“Non-Lead Servicer” shall mean the Non-Lead Master Servicer or the Non-Lead Special Servicer for a Non-Lead Securitization, as the context may require.

 

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

 

“Non-Lead Sponsor” shall mean a then-current Non-Lead Securitization Noteholder (immediately prior to the related Non-Lead Securitization) in its capacity as the

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sponsor with respect to the related Non-Lead Securitization Note in connection with such Non-Lead Securitization.

 

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

 

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

 

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

 

“Note” shall mean each A Note.

 

“Note A Holders” shall mean the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the Note A-6 Holder.

 

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

 

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

 

“Note A-1 Holder” shall mean the Initial Note A-1 Holder, or any subsequent holder of Note A-1, together with its successors and assigns.

 

“Note A-1 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1 Holder or reductions in such amount pursuant to Sections 3 or 5, as applicable.

 

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

 

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

 

“Note A-1 Securitization Date” shall mean the effective date on which the Securitization of Note A-1 or portion thereof is consummated. 

 

“Note A-1 Securitization Trust” shall mean a trust formed pursuant to the Note A-1 Securitization pursuant to which Note A-1 is held.

 

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

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

 

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

 

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

 

“Note A-2 Securitization Trust” shall mean a trust formed pursuant to Note A-2 Securitization pursuant to which Note A-2 is held.

 

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

 

“Note A-3 Holder” shall mean the Initial Note A-3 Holder, or any subsequent holder of Note A-3, together with its successors and assigns.

 

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

 

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

 

“Note A-3 Securitization Trust” shall mean a trust formed pursuant to Note A-3 Securitization pursuant to which Note A-3 is held.

 

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

 

“Note A-4 Holder” shall mean the Initial Note A-4 Holder, or any subsequent holder of Note A-4, together with its successors and assigns.

 

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

 

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

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“Note A-4 Securitization Trust” shall mean a trust formed pursuant to Note A-4 Securitization pursuant to which Note A-4 is held.

 

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

 

“Note A-5 Holder” shall mean the Initial Note A-5 Holder, or any subsequent holder of Note A-5, together with its successors and assigns.

 

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

 

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

 

“Note A-5 Securitization Trust” shall mean a trust formed pursuant to Note A-5 Securitization pursuant to which Note A-5 is held.

 

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

 

“Note A-6 Holder” shall mean the Initial Note A-6 Holder, or any subsequent holder of Note A-6, together with its successors and assigns.

 

“Note A-6 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-6 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-6 Holder or reductions in such amount pursuant to Sections 3 or 5, as applicable.

 

“Note A-6 Securitization” shall mean the sale by the Note A-6 Holder of all of such Note (or the first securitization of any portion of such Note, if applicable) to the applicable depositor, who will in turn include such Note or portion of such Note as part of a securitization of one or more mortgage loans. 

 

“Note A-6 Securitization Trust” shall mean a trust formed pursuant to Note A-6 Securitization pursuant to which Note A-6 is held.

 

 “Note Default Interest Spread” shall mean, with respect to the outstanding principal balance of any Note, a rate per annum equal to the lesser of (i) the Maximum Legal Rate minus the Note A Rate or (ii)  five percent (5%).

 

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

 

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

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“Noteholder” shall mean any of the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the Note A-6 Holder, as applicable.

 

“New Note” shall have the meaning assigned to such term in Section 38.

 

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

 

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

 

“Permitted Fund Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit C attached hereto and made a part hereof or any other nationally-recognized manager of investment funds investing in debt or equity interests relating to commercial real estate, (ii) investing through a fund with committed capital of at least $600,000,000 and (iii) not subject to a proceeding relating to the bankruptcy, insolvency, reorganization or relief of debtors.

 

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

 

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

 

“Principal Balance” shall mean any of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance and the Note A-6 Principal Balance, as applicable.

 

 “Pro Rata and Pari Passu Basis” shall mean with respect to the Notes and the Noteholders, the allocation of any particular payment, collection, cost, expense, liability or other amount among the Notes or the related Noteholders, as the case may be, without any priority of any Note or any Noteholder over another Note or Noteholder, as the case may be, and in any event such that each Note or each Noteholder, as the case may be, is allocated its respective pro rata portion of such particular payment, collection, cost, expense, liability or other amount.

 

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

 

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

 

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

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(b)   one or more of the following:

 

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

 

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

 

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

 

(iv)  an investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments of at least $600,000,000, in which (A) any Noteholder, (B) a person that is otherwise a Qualified Institutional Lender under clause (b)(i), (b)(ii) or (b)(v) (with respect to an institution substantially similar to the entities referred to in clause (b)(i) or (b)(ii) above), or (C) a Permitted Fund Manager, acts as a general partner, managing member, or the fund manager responsible for the day-to-day management and operation of such investment vehicle and provided that at least 50% of the equity interests in such investment vehicle are owned, directly or indirectly, by one or

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more entities that are otherwise Qualified Institutional Lenders (without regard to the capital surplus/equity and total asset requirements set forth below in the definition), or

 

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

 

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

 

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

 

provided that, in the case of any entity referred to in clause (b)(i), (b)(ii), (b)(iii)(a), (b)(iv)(B) or (b)(v) of this definition, (x) such entity has at least $250,000,000 in capital/statutory surplus or shareholders’ equity (except with respect to a pension advisory firm, asset manager or similar fiduciary) and at least $600,000,000 in total assets (in name or under management), and (y) is regularly engaged in the business of making or owning commercial real estate loans (or interests therein) similar to the Mortgage Loan (or mezzanine loans with respect thereto) or owning junior CMBS securities or owning or operating commercial real estate properties; provided further that, in the case of the entity described in clause (iv)(b)(B) of this definition, the requirements of this clause (y) may be satisfied by a general partner, managing member, or the fund manager responsible for the day-to-day management and operation of such entity, or

 

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

 

“Qualified Trustee” means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the applicable Rating Agencies.

 

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

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any A Note is an asset of any Securitization Trust, “Rating Agencies” or “Rating Agency” shall mean each and every of those rating agencies that are engaged by the Depositor or any Non-Lead Depositor from time to time to rate the securities issued in connection with any Securitization of any one or more of the A Notes but excluding any of those rating agencies that do not rate any securities issued in connection with any Securitization of any A Note.

 

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

 

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

 

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

 

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

 

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

 

“Required Special Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of either “CSS3” or “CLLSS3”, (ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer, (iii) in the case of Moody’s, such special servicer is acting as special servicer for one or more loans included in a CMBS transaction that was rated by Moody’s within the twelve (12) month period prior to the date of determination, and Moody’s has not downgraded or withdrawn the then-current rating on any class of CMBS securities or placed any class of CMBS securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage loans, (iv) in the case of Morningstar, either (a) the applicable replacement has a special servicer ranking of at least “MOR CS3” by Morningstar (if ranked by Morningstar) or (b) if not ranked by Morningstar, is currently acting as a special servicer on a deal or transaction-level basis for all or a significant portion of the related mortgage loans in other CMBS transactions rated by any of S&P, Moody’s, Morningstar, Fitch, DBRS or KBRA and the trustee does not have actual knowledge that Morningstar has, and the replacement special servicer certifies that Morningstar has not, with respect to any such other CMBS transaction, qualified, downgraded or withdrawn its rating or ratings on one or more classes of such CMBS transaction citing servicing concerns of the applicable replacement as the sole or material factor in such rating action, (v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such

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special servicer prior to the time of determination, and (vi) in the case of DBRS, such special servicer is currently acting as special servicer for one or more loans included in a commercial mortgage loan securitization that is rated by DBRS, and DBRS has not downgraded or withdrawn the then-current rating on any class of commercial mortgage-backed securities or placed any class of commercial mortgage-backed securities on watch citing the continuation of such special servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to the time of determination.

 

“Restricted Mezzanine Holder”:  A holder of a related mezzanine loan (or any Affiliate or agent thereof) or an owner in any interest in any related mezzanine loan (whether legally, beneficially or otherwise, including as a holder of a note evidencing a related mezzanine loan, a holder of a participation interest in a related mezzanine loan or a beneficial owner of any securities collateralized by a related mezzanine loan) (a) that has been accelerated or as to which the mezzanine lender has initiated foreclosure or enforcement proceedings against the equity collateral pledged to secure such mezzanine loan, (b) as to which an event of default under such mezzanine loan has occurred giving rise to an automatic acceleration of such mezzanine loan or the right of the lender thereunder to accelerate such mezzanine loan or (c) at any time when any Servicing Transfer Event has occurred and is continuing with respect to the Mortgage Loan as a result of any determination by the Servicer that a default in the payment of principal or interest under the Mortgage Loan is reasonably foreseeable.

 

“Risk Retention Consultation Party” shall mean each risk retention consultation party appointed pursuant to the Lead Securitization Servicing Agreement.

 

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

 

“Risk Retention Rules” shall mean the joint final rule that was promulgated to implement the Risk Retention Requirements (which such joint final rule has been codified, inter alia, at 17 C.F.R. § 246), as such rule may be amended from time to time, and subject to such clarification and interpretation as have been provided by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the Commission and the Department of Housing and Urban Development in the adopting release (79 Fed. Reg. 77601 et seq.) or by the staff of any such agency, or as may be provided by any such agency or its staff from time to time, in each case, as effective from time to time as of the applicable compliance date specified therein.

 

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

 

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

 

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

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

 

“Securitization Servicing Agreement” shall mean the Lead Securitization Servicing Agreement or a Non-Lead Securitization Servicing Agreement, as the context may require.

 

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

 

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

 

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

 

“Servicing Agreement” shall mean the Lead Securitization Servicing Agreement; provided that in the event that, following the Securitization of the Lead Securitization Note, the Lead Securitization Note is no longer an asset of the trust fund created pursuant to the Lead Securitization Servicing Agreement, the “Servicing Agreement” shall be determined in accordance with Section 2(j).

 

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

 

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

 

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

 

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

 

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

 

“Sub-Servicer” shall have the meaning given thereto in the Lead Securitization Servicing Agreement (or other analogous term under the Lead Securitization Servicing Agreement).

 

“Transfer” shall mean any sale, assignment, transfer, pledge, syndication, participation, hypothecation, contribution, encumbrance or other disposition , either  directly or  indirectly, by operation of law or otherwise.

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

 

“Undeveloped Certificate Administrator Information/Data” shall mean, with respect to the Certificate Administrator, information or data (other than attorney-client privileged information) that, at the time of any request for information or data, (a) is in the possession of the Certificate Administrator and (b) has been provided to the Certificate Administrator by another Person, with (i)(x) no obligation to conduct or perform any Activity or Activities, (y) no obligation to request, direct or instruct any other Person (and no obligation on the part of any other Person) to conduct or perform any Activity or Activities and (z) no obligation to verify any Activity or Activities performed by any other Person, and (ii) if for any reason such information or data itself consists in whole or in part of the results of any Activity or Activities on the part of another Person (it being acknowledged that this shall not be construed to require any Person to perform any Activity or Activities to determine whether the information or data includes the results of any Activity or Activities on the part of another Person), (x) no obligation to conduct or perform any further or additional any Activity or Activities, (y) no obligation to request, direct or instruct any other Person to conduct or perform any further or additional any Activity or Activities and (z) no obligation to verify any Activity or Activities performed by any other Person.

 

“Undeveloped Servicer Information/Data” shall mean, with respect to the Master Servicer, a Mortgage Loan Seller Sub-Servicer or the Special Servicer, as the case may be, information and data (other than attorney-client privileged information and other than information relating to a workout or resolution strategy or plan for a Specially Serviced Loan) that, at the time of any request for information or data, (a) relates to the Mortgage Loan or the Mortgaged Property, (b) is in the possession of such Master Servicer, Initial Sub Servicer or Special Servicer, as the case may be, and (c) has been provided to such Master Servicer, Initial Sub Servicer or Special Servicer, as the case may be, by or on behalf of the Borrower, property manager or lender.  With respect to such Undeveloped Servicer Information/Data, there shall be (i) no obligation on the part of such Master Servicer, Initial Sub Servicer or Special Servicer, as the case may be, to (x) conduct or perform any Activity or Activities, (y) request, direct or instruct any other Person (and no obligation on the part of any other Person) to conduct or perform any Activity or Activities or (z) verify any Activity or Activities performed by any other Person, and (ii) if for any reason such information or data itself consists in whole or in part of the results of any Activity or Activities on the part of another Person (it being acknowledged that this shall not be construed to require any Person to perform any Activity or Activities to determine whether the information or data includes the results of any Activity or Activities on the part of another Person), no obligation on the part of such Master Servicer, Initial Sub Servicer or Special Servicer, as the case may be, to (x) conduct or perform any further or additional any Activity or Activities, (y) request, direct or instruct any other Person to conduct or perform any further or additional any Activity or Activities or (z) verify any Activity or Activities performed by any other Person.

 

“Withheld Amounts” shall have the meaning assigned to such term in Section 3.

 

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

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Section 2.              Servicing.

 

(a)  Each Noteholder acknowledges and agrees that, subject to this Agreement, the Mortgage Loan shall be serviced pursuant to this Agreement and (i) prior to the Lead Securitization Date, under interim servicing arrangements as directed by the Note A-1 Holder and (ii) after the Lead Securitization Date, the Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments of principal or interest in respect of the Notes other than the Lead Securitization Note if such principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated to advance delinquent real estate taxes, insurance premiums and other expenses related to the maintenance of the Mortgaged Property and maintenance and enforcement of the lien of the Mortgage thereon, subject to the terms of the Servicing Agreement (including a determination of recoverability thereunder).  Each Noteholder acknowledges that each other Noteholder may elect, in its sole discretion, to include the related Note in a Securitization and agrees that it will reasonably cooperate with such other Noteholder, at such other Noteholder’s expense, to effect such Securitization.  Subject to the terms and conditions of this Agreement, each Noteholder hereby irrevocably and unconditionally consents to the appointment of the Master Servicer, the Certificate Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee under the Servicing Agreement by the Depositor, and the appointment of the Special Servicer as the initial Special Servicer under the Servicing Agreement by the Depositor (subject to replacement by the Controlling Noteholder as provided herein) and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with this Agreement and the Servicing Agreement.  Each Noteholder hereby appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization as such Noteholder’s attorney-in-fact to sign any documents reasonably required with respect to the administration and servicing of the Mortgage Loan on its behalf under the Servicing Agreement (subject at all times to the rights of the Noteholders set forth herein and in the Servicing Agreement).  In no event shall the Servicing Agreement require any Servicer to enforce the rights of any Noteholder against any other Noteholder or limit any Servicer in enforcing the rights of one Noteholder against any other Noteholder; however, this statement shall not be construed to otherwise limit the rights of one Noteholder with respect to any other Noteholder.  Each Servicer shall be required pursuant to the Servicing Agreement to service the Mortgage Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, the Servicing Agreement and applicable law, and shall not take any action or refrain from taking any action or follow any direction inconsistent with the foregoing.

 

(b)  [Reserved.]

 

(c)  [Reserved.]

 

(d)  The Master Servicer shall be the lead master servicer on the Mortgage Loan, and from time to time it (or the Trustee, to the extent provided in the Lead Securitization Servicing Agreement) (i) shall be required to make Property Protection Advances with respect to the Mortgage Loan, subject to the terms of the Lead Securitization Servicing Agreement and this Agreement, and (ii) may be required to make P&I Advances on the Lead Securitization Note, if and to the extent provided in the Lead Securitization Servicing Agreement and this Agreement.  The Master Servicer, the Special Servicer and the Trustee, as applicable, will be entitled to reimbursement for a Property Protection Advance, first from funds on deposit in each of the

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Collection Account and the Companion Distribution Account that (in any case) represent amounts received on or in respect of the Mortgage Loan in the manner provided in the Lead Securitization Servicing Agreement, and then, in the case of Nonrecoverable Property Protection Advances, if such funds on deposit in the Collection Account and Companion Distribution Account are insufficient, from general collections of the Lead Securitization as provided in the Lead Securitization Servicing Agreement and from general collections of the Non-Lead Securitizations as provided below.  The Master Servicer, the Special Servicer and the Trustee, as applicable, will be entitled to reimbursement for Advance Interest Amounts on a Property Protection Advance or a Nonrecoverable Property Protection Advance, in the manner and from the sources provided in the Lead Securitization Servicing Agreement, including from general collections of the Lead Securitization and, in the case of Property Protection Advances, from general collections of the Non-Lead Securitizations as provided below.  Notwithstanding the foregoing, to the extent the Master Servicer, the Special Servicer or the Trustee, as applicable, obtains funds from general collections of the Lead Securitization as a reimbursement for a Nonrecoverable Property Protection Advance or any Advance Interest Amounts on a Property Protection Advance or a Nonrecoverable Property Protection Advance, each Non-Lead Securitization Noteholder (including from general collections or any other amounts from the Non-Lead Securitization Trust) shall be required to, promptly following notice from the Master Servicer, reimburse the Lead Securitization for its pro rata share of such Nonrecoverable Property Protection Advance or Advance Interest Amounts. 

 

In addition, each Non-Lead Securitization Noteholder (including, but not limited to, the related Non-Lead Securitization Trust) shall be required to, promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse the Lead Securitization for such Non-Lead Securitization Noteholder’s pro rata share of any additional trust fund expenses with respect to the Mortgage Loan or the Mortgaged Property, any other fees, costs or expenses incurred in connection with the servicing and administration of the Mortgage Loan and allocable to the Note A Holders pursuant to this Agreement and as to which the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor or the Depositor, as applicable, is entitled to be reimbursed pursuant to the Lead Securitization Servicing Agreement, and any fees, costs or expenses related to obtaining a Rating Agency Confirmation and allocated to the Note A Holders, in each case to the extent amounts on deposit in the Companion Distribution Account that are allocated to the related Non-Lead Securitization Note are insufficient for reimbursement of such amounts (which such reimbursement shall be made, if a Non-Lead Securitization Note has been included in a Non-Lead Securitization, from general collections or any other amounts from such Non-Lead Securitization Trust).  Each Non-Lead Securitization Noteholder agrees to indemnify (i) (as and to the same extent the Lead Securitization Trust is required to indemnify each of the following parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of Lead Securitization Servicing Agreement) each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor and the Depositor (and any director, officer, employee or agent of any of the foregoing, to the extent such parties are identified as indemnified parties in the Lead Securitization Servicing Agreement in respect of other mortgage loans) and (ii) the Lead Securitization Trust (such parties in clause (i) and the Lead Securitization Trust, collectively, the “Indemnified Parties”) against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities, fees and expenses incurred in connection with the servicing and administration of the Mortgage Loan and the Mortgaged Property (or, with respect to the Operating Advisor, incurred

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in connection with the provision of services for the Mortgage Loan) under the Lead Securitization Servicing Agreement (collectively, the “Indemnified Items”) to the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit in the Companion Distribution Account that are allocated to the related Non-Lead Securitization Note are insufficient for reimbursement of such amounts, such Non-Lead Securitization Noteholder shall be required to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share of the insufficiency (including, if the related Non-Lead Securitization Note has been included in a Non-Lead Securitization, from general collections or any other amounts from such Non-Lead Securitization Trust).

 

A Non-Lead Master Servicer may be required to make P&I Advances on the related Non-Lead Securitization Note it is servicing, from time to time, subject to the terms of the related Non-Lead Securitization Servicing Agreement, the Lead Securitization Servicing Agreement and this Agreement.  The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to make their own recoverability determination with respect to a P&I Advance to be made on the Lead Securitization Note based on the information that they have on hand and in accordance with the Lead Securitization Servicing Agreement.  Each Non-Lead Master Servicer, Non-Lead Special Servicer and Non-Lead Trustee, as applicable, shall be entitled to make their own recoverability determination with respect to a P&I Advance to be made on the related Non-Lead Securitization Note based on the information that they have on hand and in accordance with the related Non-Lead Securitization Servicing Agreement.  The Master Servicer and the Trustee, as applicable, and each Non-Lead Master Servicer or Non-Lead Trustee shall be required to notify each other servicer and trustee with respect to a Securitization of the amount of its P&I Advance within two (2) Business Days of making such advance.  If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization Note) or a Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee, as applicable (with respect to a Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable or an outstanding P&I Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines that a proposed Property Protection Advance would be non-recoverable or an outstanding Property Protection Advance is or would be non-recoverable, then the Master Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or such Non-Lead Master Servicer or Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by a Non-Lead Master Servicer, a Non-Lead Special Servicer or a Non-Lead Trustee) shall notify the Master Servicer and the Trustee, or such Non-Lead Master Servicer and such Non-Lead Trustee, as the case may be, within two (2) Business Days of making such determination.  Each of the Master Servicer, the Trustee, the Non-Lead Master Servicers and the Non-Lead Trustees, as applicable, will only be entitled to reimbursement for a P&I Advance that becomes non-recoverable and advance interest thereon first from the Collection Account (in the case of the Lead Securitization Note) or the Companion Distribution Account (in the case of a Non-Lead Securitization Note) from amounts allocable to the Note for which such P&I Advance was made, and then, if funds are insufficient, (i) in the case of the Lead Securitization Note, from general collections of the Lead Securitization Trust, pursuant to the terms of the Lead Securitization Servicing Agreement and (ii) in the case of a Non-Lead Securitization Note, from general collections of the related Non-Lead Securitization Trust, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement.

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(e)   The Servicing Agreement shall contain provisions to the effect that (and to the extent such following provisions are not included in the Servicing Agreement, they shall be deemed incorporated therein and made a part thereof):

 

(i)        any payments received on the Mortgage Loan shall be paid by the Master Servicer to each of the Noteholders (other than the Noteholders of the Non-Lead Securitization Notes, to whom remittances shall be made described in clause (viii) below) on the Master Servicer Remittance Date under the Servicing Agreement;

 

(ii)        each Non-Lead Noteholder shall be entitled to receive, and the Master Servicer and the Special Servicer shall provide access to, any information relating to the Mortgage Loan, the Mortgage Loan Borrower or the Mortgaged Property as such Non-Lead Noteholder may reasonably request and would be customarily in the possession of, or collected or known by, the Master Servicer or the Special Servicer of mortgage loans similar to the Mortgage Loan and, in any event, all information that is required to be provided to holders of the securities issued by the Lead Securitization Trust but not limited to standard CREFC reports and Asset Status Reports, provided that if an interest in the requesting Noteholder or its related Note is held by a Borrower Party, then such requesting Noteholder shall not be entitled to receive the Asset Status Report or any other information relating to the Special Servicer’s workout strategy or any “excluded information” or analogous term under the Servicing Agreement;

 

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

 

(iv)      the Servicing Agreement may not be amended without the consent of each Non-Lead Noteholder if such amendment would be materially adverse to such Non-Lead Noteholder or would materially adversely affect the Mortgage Loan or any Non-Lead Noteholder’s rights with respect thereto or would alter any term that is defined herein by reference to the Servicing Agreement in a manner that is materially adverse to a Non-Lead Noteholder;

 

(v)       the Special Servicer selected by the Controlling Noteholder shall be appointed as the Special Servicer for the Mortgage Loan not later than the earlier of (x) the closing of the Securitization of the Controlling Note or (y) the Mortgage Loan becoming a Specially Serviced Loan under any other Servicing Agreement; provided, however, that such Special Servicer has the Required Special Servicer Rating of, or otherwise be acceptable to, each of the Rating Agencies rating any Securitization of an A Note;

 

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

 

(vii)      if the Master Servicer determines that a proposed P&I Advance with respect to the Lead Securitization Note or Property Protection Advance with respect to the Mortgage Loan, if made, or any outstanding P&I Advance or Property Protection Advance

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previously made, would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer shall provide each Non-Lead Master Servicer written notice of such determination promptly after such determination was made together with such reports that the Master Servicer delivered to the Special Servicer or Trustee in connection with notification of its determination of nonrecoverability; 

 

(viii)     the Master Servicer shall remit all payments allocated to the Noteholder of each Non-Lead Securitization Note pursuant to Section 3, net of the servicing fees payable to the Master Servicer and Special Servicer with respect to such Non-Lead Securitization Note, and any other applicable fees and reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to such Non-Lead Securitization Noteholder not later than the earlier of (x) the Master Servicer Remittance Date and (y) the Business Day following the “determination date” (or any term substantially similar thereto) as defined in the applicable Non-Lead Securitization Servicing Agreement (such determination date, the “Non-Lead Securitization Determination Date”), provided, however, that (a) no remittance is required to be made until two (2) Business Days after receipt of properly identified funds constituting the related Monthly Payment; and (b) any late collections received by the Master Servicer after the related due date under the Mortgage Loan shall be remitted by the Master Servicer in accordance with Section 2(e)(xv) below;

 

(ix)       with respect to each Non-Lead Note, the Master Servicer agrees to deliver or cause to be delivered or to make available to such Non-Lead Noteholder (or, in the case of a Non-Lead Note held by a Securitization, the related Non-Lead Master Servicer) all reports required to be delivered by the Master Servicer to the Certificate Administrator and the Trustee under the Lead Securitization Servicing Agreement (which shall include all loan-level reports constituting the CREFC® Investor Reporting Package (IRP)) pursuant to the terms of the Lead Securitization Servicing Agreement, to the extent related to the Mortgage Loan, the Mortgaged Property, such Non-Lead Note, the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, not later than the earlier of (x) the Master Servicer Remittance Date and (y) the Business Day following the Non-Lead Securitization Determination Date (if any), in each case so long as the date on which delivery is required under this clause (ix) is at least one (1) Business Day after the scheduled monthly payment date under the Mortgage Loan Agreement;

 

(x)        the Master Servicer and the Special Servicer, as applicable, shall provide (in electronic media) to each Non-Lead Noteholder all documents, certificates, instruments, notices, reports, operating statements, rent rolls and other information regarding the Mortgage Loan provided by it to any other party to the Lead Securitization Servicing Agreement at the time provided to such other party;

 

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

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(xii)      each Non-Lead Noteholder shall be entitled to the same indemnity as the Lead Securitization Noteholder under the Lead Securitization Servicing Agreement; each of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator, the Operating Advisor and the Custodian shall be required to (and shall require any Servicing Function Participant or Additional Servicer engaged by it to) indemnify each Certifying Person and the Non-Lead Depositor, and their respective directors and officers and controlling persons, to the same extent that they indemnify the Depositor (as depositor in respect of the Lead Securitization) and each Certifying Person for (i) its failure to deliver the items in clause (xiii) below in a timely manner, (ii) its failure to perform its obligations to the Non-Lead Depositor or the related Non-Lead Trustee under Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement by the time required after giving effect to any applicable grace period or cure period, (iii) the failure of any Servicing Function Participant or Additional Servicer retained by it (other than an Initial Sub-Servicer) to perform its obligations to such depositor or trustee under such Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement by the time required and/or (iv) any Deficient Exchange Act Deliverable regarding, and delivered by or on behalf of, such party;

 

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

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

 

(xiv)     each of the Master Servicer, the Special Servicer, the Custodian and the Trustee and each Affected Reporting Party shall cooperate (and require each Servicing Function Participant and Additional Servicer retained by it to cooperate under the applicable Sub-Servicing Agreement), with each Non-Lead Depositor (including, without limitation, providing all due diligence information, reports, written responses, negotiations and coordination) to the same extent as such party is required to cooperate with the Depositor under Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement and in connection with Deficient Exchange Act Deliverables.  All respective reasonable out-of-pocket costs and expenses incurred by the Non-Lead Depositor (including reasonable legal fees and expenses of outside counsel to such depositor) in connection with the foregoing (other than those costs and expenses related to participation by a Non-Lead Depositor in any telephone conferences and meetings with the Commission and other costs the Non-Lead Depositor must bear pursuant to Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement) and any amendments to any reports filed with the Commission therewith shall be promptly paid by the applicable Affected Reporting Party upon receipt of an itemized invoice from such Non-Lead Depositor;

 

(xv)      any late collections received by the Master Servicer from the Mortgage Loan Borrower that are allocable to a Non-Lead Securitization Note or reimbursable to the Non-Lead Master Servicer or the Non-Lead Trustee shall be remitted by the Master Servicer to the Non-Lead Master Servicer or the Non-Lead Noteholder, as applicable, within two (2) Business Days of receipt of properly identified funds; provided, however, that in the event the Master Servicer is in receipt of properly identified funds that are not available to the Master Servicer, the Master Servicer may instead remit such amounts on the same Business Day that such properly identified funds become available to the Master Servicer;

 

(xvi)     each Non-Lead Master Servicer and each Non-Lead Special Servicer shall each be a third-party beneficiary of the Lead Securitization Servicing Agreement with respect to all provisions therein expressly relating to compensation, reimbursement or

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indemnification of such Non-Lead Master Servicer or such Non-Lead Special Servicer, as the case may be, and the provisions regarding coordination of Advances;

 

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

 

(xviii)   Servicer Termination Events with respect to the Master Servicer and the Special Servicer shall include: (i) solely with respect to the Master Servicer, the failure to timely remit payments to a Non-Lead Noteholder, which failure continues unremedied for one (1) Business Day following the date on which such payment was to be made; (ii) solely with respect to the Special Servicer, the failure to deposit into any REO Account any amount required to be so deposited within two (2) Business Days after the date such deposit was to be made, or the failure to remit to the Master Servicer for deposit into the Collection Account or the related Companion Distribution Account, as applicable, any amount required to be so remitted by the Special Servicer within one (1) Business Day after the date such remittance was to be made; (iii) solely with respect to the Special Servicer, the failure to maintain the Required Special Servicer Rating or to be otherwise acceptable to each Rating Agency rating a Securitization, which failure continues unremedied for a period of sixty (60) days following actual knowledge thereof by the Special Servicer; (iv) the qualification, downgrade or withdrawal, or placing on “watch status” in contemplation of a rating downgrade or withdrawal of the ratings of any class of certificates issued in connection with the Non-Lead Securitization by the Rating Agencies rating such securities (and such qualification, downgrade, withdrawal or “watch status” placement shall not have been withdrawn by such rating agencies within sixty (60) days of actual knowledge of such event by the Master Servicer or the Special Servicer, as the case may be), and publicly citing servicing concerns with the Master Servicer or Special Servicer, as applicable, as the sole or a material factor in such rating action; and (v) the failure to provide to a Non-Lead Securitization Noteholder (if and to the extent required under the related Non-Lead Securitization) reports required under the Exchange Act, and the rules and regulations thereunder, in a timely fashion.  Upon the occurrence of such a Servicer Termination Event (A) with respect to the Master Servicer affecting any Non-Lead Noteholder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon the direction of such Non-Lead Noteholder, appoint a sub-servicer solely with respect to the Mortgage Loan (or if the Mortgage Loan is currently being sub-serviced, to replace the current sub-servicer, but only if such original sub-servicer is in default under the related sub-servicing agreement); and (B) the appointment (or replacement) of a sub-servicer with respect to the Mortgage Loan, as contemplated in clause (A) above, will in any event be subject to written confirmation from each Rating Agency that such appointment would not, in and of itself, cause a downgrade, qualification or withdrawal of the then-current ratings assigned to the securities issued in connection with any Securitization.  Upon the occurrence of a Servicer Termination Event with respect to the Special Servicer affecting a Non-Lead Noteholder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee

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shall, upon direction of such Non-Lead Noteholder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan; 

 

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

 

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

 

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

 

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

 

(i)         such Non-Lead Securitization Noteholder shall be responsible for its pro rata share of any Nonrecoverable Property Protection Advances (and advance interest thereon) and any additional trust fund expenses, but only to the extent that they relate to servicing and administration of the Notes and the Mortgaged Property, including without limitation, any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees relating to the Notes, and that in the event that the funds received with respect to the Notes are insufficient to cover such Property Protection Advances or additional trust fund expenses, (A) the Non-Lead Master Servicer will be required to, promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Lead Securitization Trust, as applicable, out of general funds in the collection account (or equivalent account) established under the

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Non-Lead Securitization Servicing Agreement for the Non-Lead Securitization Noteholder’s pro rata share of any such Nonrecoverable Property Protection Advances (together with advance interest thereon) and/or other additional trust fund expenses (including compensation due to the Master Servicer and the Special Servicer to the extent related to the servicing and administration of the Mortgage Loan and the Mortgaged Property), and (B) if the Lead Securitization Servicing Agreement permits the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee to reimburse itself from the Lead Securitization Trust’s general account, then the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as applicable, may do so, and the Non-Lead Master Servicer will be required to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse the Lead Securitization Trust out of general funds in the collection account (or equivalent account) established under the Non-Lead Securitization Servicing Agreement for the Non-Lead Securitization Noteholder’s pro rata share of any such Nonrecoverable Property Protection Advances (together with advance interest thereon) and/or additional trust fund expenses (including compensation due to the Master Servicer and the Special Servicer to the extent related to the servicing and administration of the Mortgage Loan and the Mortgaged Property);

 

(ii)        each of the Indemnified Parties shall be indemnified (as and to the same extent the Lead Securitization Trust is required to indemnify each of such Indemnified Parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the Lead Securitization Servicing Agreement and, in the case of the Lead Securitization Trust, to the extent of any additional trust fund expenses with respect to the Mortgage Loan) by the Non-Lead Securitization Trust, against any of the Indemnified Items to the extent of its pro rata share of such Indemnified Items and, to the extent amounts on deposit in the Companion Distribution Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement of such amounts, the Non-Lead Master Servicer will be required to reimburse each of the applicable Indemnified Parties for the Non-Lead Securitization Note’s pro rata share of the insufficiency out of general funds in the collection account (or equivalent account) established under the Non-Lead Securitization Servicing Agreement;

 

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

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information) (which may be in the form of email delivery of a copy of any revised Non-Lead Securitization Servicing Agreement); and

 

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

 

(g)  The Lead Securitization Noteholder shall:

 

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

 

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

 

(h) Each Non-Lead Securitization Noteholder shall provide (or cause to be provided) to the Lead Securitization Noteholder and the parties to the Lead Securitization Servicing Agreement (provided that the Lead Securitization Servicing Agreement has been delivered to the Non-Lead Securitization Noteholder) notice of the closing of the related Non-Lead Securitization, in writing (which may be by email) prior to or promptly following the related Non-Lead Securitization Date, which notice shall include a copy of the Non-Lead Securitization Servicing Agreement.

 

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

 

(j)  At any time after the Securitization Date that the Lead Securitization Note is no longer subject to the provisions of the Servicing Agreement, the Lead Securitization Noteholder shall cause the Mortgage Loan to be serviced pursuant to a servicing agreement that contains servicing provisions which are the same as or more favorable to the Non-Lead Securitization Noteholders, in substance, to those in the Servicing Agreement and all references herein to the

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“Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that if a Non-Lead Securitization Note is in a Securitization, then a written confirmation shall have been obtained from each Rating Agency rating such Securitization that the appointment of the servicer(s) pursuant to such servicing agreement would not, in and of itself, cause a downgrade, qualification or withdrawal of the then-current ratings assigned to the securities issued in connection with such Securitization; provided, further, that until a replacement servicing agreement has been entered into, the Lead Securitization Noteholder shall cause the Mortgage Loan to be serviced in accordance with the servicing provisions set forth in the Servicing Agreement as if such agreement was still in full force and effect with respect to the Mortgage Loan; provided, however, that the Servicer under such replacement Servicing Agreement shall have no further obligations to advance monthly payments of principal and interest; provided, further, however, that until a replacement servicing agreement is in place, the actual servicing of the Mortgage Loan may be performed by any nationally recognized commercial mortgage loan servicer meeting the requirements of the Servicing Agreement appointed by the Lead Securitization Noteholder and the special servicer appointed by the Controlling Noteholder (which special servicer must satisfy the Required Special Servicer Rating of, or otherwise be acceptable to, each of the Rating Agencies rating any outstanding Securitization) and does not have to be performed by the service providers set forth under the Servicing Agreement.

 

(k)  Subject to the Servicer’s obligation to act in accordance with the Servicing Standard and subject to a Rating Agency Confirmation, and solely in the event that S&P rates any securities issued in connection with any Securitization of any A Note, the Servicer shall require the related Mortgage Loan Borrower to maintain insurance with an insurer meeting the minimum S&P ratings requirements specified in the related Mortgage Loan Documents (and, for the avoidance of doubt, without regard to any lender discretion with respect to such ratings in the related Mortgage Loan Documents).

 

Section 3.              Payment Priorities of the Notes.  The A Notes shall be of equal priority, and no portion of any Note shall have priority or preference over any portion of any other Note or security therefor.  All amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds thereof, whether received in the form of Monthly Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or instrument securing the Mortgage Loan or Insurance and Condemnation Proceeds (other than proceeds, awards or settlements that are required to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC Provisions), but excluding (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents (to the extent, in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of Advances then due and payable or reimbursable to the Servicer under the Servicing Agreement and (y) all amounts that are then due, payable or reimbursable to any Servicer (excluding master servicing fees, trustee fees, certificate administrator fees, operating advisor fees and asset representations reviewer fees (all of which shall be payable by each Noteholder to such party out of distributions made to such Noteholder in respect of its respective Note), with respect to the Mortgage Loan pursuant to the Servicing Agreement (such amounts contemplated by clauses (x) and (y), “Withheld Amounts”), shall be applied to the Notes on a Pro Rata and Pari Passu Basis.

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For clarification purposes, Default Interest and late payment charges (collectively, “Penalty Charges”) paid on the A Notes pursuant to this Section 3 shall be allocated to the Note A Holders on a pro rata basis and applied: first, to reduce, on a pro rata basis, the Penalty Charges otherwise payable on each such A Note by the amount necessary to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any Property Protection Advances and reimbursement of any Property Protection Advances in accordance with the terms of the Lead Securitization Servicing Agreement; second, to reduce, on a pro rata basis, the Penalty Charges otherwise payable to the Noteholder of each such A Note by the amount necessary to pay the Master Servicer, Trustee, Non-Lead Master Servicer or Non-Lead Trustee for any interest accrued on any P&I Advance made with respect to such Note by such party (if and as specified in the Lead Securitization Servicing Agreement or any Non-Lead Securitization Servicing Agreement, as applicable); third, to reduce, on a pro rata basis, the Penalty Charges otherwise payable to each Note A Holder by the amount necessary to pay additional trust fund expenses (other than Special Servicing Fees, unpaid Workout Fees and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the Servicing Agreement); and finally, (i) in the case of the remaining amount of Penalty Charges otherwise allocable pursuant to this Section 3 to the Lead Securitization Noteholder, to pay such remaining amount to the Master Servicer and/or the Special Servicer as additional servicing compensation as provided in the Servicing Agreement and (ii) in the case of the remaining amount of Penalty Charges allocable pursuant to this Section 3 to any Note A Holder that is not the Lead Securitization Noteholder, to pay such remaining amount (x) prior to the Securitization of such A Note, to the related Note A Holder and (y) following the Securitization of such A Note, to the Master Servicer and/or the Special Servicer as additional servicing compensation as provided in the Servicing Agreement.

 

Section 4.              [Reserved.]

 

Section 5.              Administration of the Mortgage Loan.

 

(a)   Subject to this Agreement (including, without limitation, Section 5(f) below) and the Servicing Agreement and consistent with the Servicing Standard, the Lead Securitization Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder) shall have the sole and exclusive authority with respect to the administration of, and exercise of rights and remedies with respect to, the Mortgage Loan, including, without limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan Documents or consent to any action or failure to act by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents, call or waive any Event of Default, accelerate the Mortgage Loan or institute any foreclosure action or other remedy and no other Noteholder shall have any voting, consent or other rights whatsoever with respect to the Lead Securitization Noteholder’s administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan.  Subject to this Agreement and the Servicing Agreement (including, without limitation, Section 5(f) below) and consistent with the Servicing Standard, each Non-Lead Noteholder agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to the Lead Securitization Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder) the rights, if any, that such Non-Lead Noteholder has to, (i) call or cause the Lead Securitization Noteholder to call an Event of Default under the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation, filing or causing the Lead Securitization Noteholder to file any bankruptcy petition against the Mortgage Loan Borrower.  The Lead Securitization

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Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder) shall not have any fiduciary duty to any Non-Lead Noteholder in connection with the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization Noteholder from the obligation to make any disbursement of funds as set forth herein).

 

(b)  The administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement.  Each Noteholder agrees to be bound by the terms of this Agreement and the Servicing Agreement.  The Servicers shall service the Mortgage Loan in accordance with the terms of this Agreement (including, without limitation, Section 5(f) below) and consistent with the Servicing Standard.  Servicing of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Loan, by the Special Servicer, in each case pursuant to the Servicing Agreement and consistent with the Servicing Standard.  Notwithstanding anything to the contrary contained herein, in accordance with the Servicing Agreement, the Lead Securitization Noteholder shall cause the Master Servicer and the Special Servicer to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests of the Noteholders as a collective whole.  The foregoing provisions of this Section 5(b) shall not limit or modify the rights of the Controlling Noteholder and/or the Controlling Noteholder Representative to exercise their respective rights specifically set forth under this Agreement.

 

(c)  Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement and this Agreement (including, without limitation, Sections 5(f) and 6), if the Servicer in connection with a Workout of the Mortgage Loan modifies the terms thereof in accordance herewith such that (i) the unpaid principal balance of the Mortgage Loan is decreased, (ii) the Mortgage Loan Rate or scheduled amortization payments on such Mortgage Loan are reduced, (iii) payments of interest or principal on such Mortgage Loan are waived, reduced or deferred or (iv) any other adjustment (other than an increase in the Mortgage Loan Rate or increase in scheduled amortization payments) is made to any of the terms of the Mortgage Loan, all payments to the Note A Holders pursuant to Section 3 shall be made as though such Workout did not occur, with the payment terms of each A Note remaining the same as they are on the date hereof, the full economic effect of all waivers, reductions or deferrals of amounts due on the Mortgage Loan attributable to such Workout shall be borne by the Note A Holders (pro rata based on the Principal Balances of their respective Notes). 

 

(d)  All rights and obligations of the Lead Securitization Noteholder described hereunder may be exercised by the Servicers on behalf of the Lead Securitization Noteholder in accordance with the Servicing Agreement and this Agreement. 

 

(e)  If any Note is included as an asset of a REMIC, any provision of this Agreement to the contrary notwithstanding:  (i) the Mortgage Loan shall be administered such that the Notes shall each qualify at all times as (or as interests in) a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code, (ii) any real property (and related personal property) acquired by or on behalf of the Noteholders pursuant to a foreclosure, exercise of a power of sale or delivery of a deed in lieu of foreclosure of the Mortgage or lien on such property following a default on the Mortgage Loan shall be administered so that the interests of the Noteholders therein shall at all times qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code and (iii) no Servicer may modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent from any action of the Mortgage Loan Borrower, or exercise or refrain from

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exercising any powers or rights which the Noteholders may have under the Mortgage Loan Documents, if any such action would constitute a “significant modification” of the Mortgage Loan, within the meaning of Section 1.860G-2(b) of the regulations of the United States Department of the Treasury, more than three months after the earliest startup day of any REMIC which includes all or a portion of any A Note.  The Noteholders agree that the provisions of this Section 5(e) shall be effected by compliance by the Lead Securitization Noteholder or its assignees with this Agreement or the Servicing Agreement or any other agreement which governs the administration of the Mortgage Loan or the Lead Securitization Noteholder’s interests therein.  All costs and expenses of compliance with this Section 5(e), to the extent that such costs and expenses relate to administration of a REMIC or to any determination respecting the amount, payment or avoidance of any tax under the REMIC Provisions or the actual payment of any REMIC tax or expense, shall be borne (without reimbursement under Section 3) by each Noteholder with respect to the REMIC containing the Note owned by such Noteholder.

 

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

 

(f)   (i)    Subject to clauses (ii) or (iii) below, if any consent, modification, amendment or waiver under or other action in respect of the Mortgage Loan (whether or not a Servicing Transfer Event has occurred and is continuing) that would constitute a Major Decision has been requested or proposed or any fact or circumstance has occurred requiring that a Major Decision be made, or if the Master Servicer or Special Servicer otherwise intends to make a Major Decision, then the Master Servicer or Special Servicer, as applicable, shall deliver prompt written notice thereof to the Controlling Noteholder and its Controlling Noteholder Representative, if any, at least ten (10) Business Days prior to taking action with respect to such Major Decision (or making a determination not to take action with respect to such Major Decision), and none of the Master Servicer, the Special Servicer or any other Person shall implement any decision with respect to such Major Decision (or make a determination not to take action with respect to such Major Decision) unless and until the Master Servicer or the Special Servicer, as applicable, has received the written consent of the Controlling Noteholder (or its Controlling Noteholder Representative).

 

(ii)        If the Master Servicer or Special Servicer, as applicable, has not received a response from the Controlling Noteholder (or its Controlling Noteholder Representative) with respect to such Major Decision within five (5) Business Days after delivery of the notice of such Major Decision, the Lead Securitization Noteholder (or the Special Servicer acting on its behalf) shall deliver an additional copy of the notice of such Major Decision in all caps bold 14-point font: “This is a Second Notice. Failure to respond within five (5) Business Days of this Second Notice will result in a loss of your right to 

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consent with respect to this decision,” and if the Controlling Noteholder fails to respond to the Lead Securitization Noteholder (or the Special Servicer acting on its behalf) with respect to any such proposed action within five (5) Business Days after receipt of such second notice, the Controlling Noteholder shall have no further consent rights with respect to such action (provided, however, that such failure to reply shall not affect the rights of the Controlling Noteholder to consent to any future actions). Notwithstanding the foregoing, or if a failure to take any such action at such time would be inconsistent with the Servicing Standard, the Servicer may take actions with respect to such Mortgaged Property before obtaining the consent of the Controlling Noteholder (or its Controlling Noteholder Representative) (or before consulting with any Non-Controlling Noteholder to the extent such Non-Controlling Noteholder has consultation rights with respect to such action) if the Servicer reasonably determines in accordance with the Servicing Standard that failure to take such actions prior to such consent would materially and adversely affect the interest of the Noteholders as a collective whole, and the Servicer has made a reasonable effort to contact the Controlling Noteholder. The foregoing shall not relieve the Lead Securitization Noteholder (or a Servicer acting on its behalf) of its duties to comply with the Servicing Standard.

 

(iii)       Notwithstanding the foregoing, the Lead Securitization Noteholder (or any Servicer acting on its behalf) shall not follow any advice, direction, objection or consultation provided by the Controlling Noteholder (or its Controlling Noteholder Representative) that would require or cause the Lead Securitization Noteholder (or any Servicer acting on its behalf) to violate any applicable law, including the REMIC Provisions, be inconsistent with the Servicing Standard, require or cause the Lead Securitization Noteholder (or any Servicer acting on its behalf) to violate provisions of this Agreement or the Servicing Agreement, require or cause the Lead Securitization Noteholder (or any Servicer acting on its behalf) to violate the terms of the Mortgage Loan, or materially expand the scope of the Lead Securitization Noteholder’s (or any Servicer acting on its behalf) responsibilities under this Agreement or the Servicing Agreement.

 

The Special Servicer shall be required to provide copies to each Non-Controlling Noteholder of any notice, information and report that is required to be provided to the Controlling Noteholder pursuant to the Servicing Agreement with respect to any Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report within the same time frame such notice, information and report is required to be provided to the Controlling Noteholder, and the Special Servicer shall be required to consult with each Non-Controlling  Noteholder on a strictly non-binding basis, to the extent having received such notices, information and reports, any Non-Controlling Noteholder requests consultation with respect to any such Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report, and consider alternative actions recommended by such Non-Controlling Noteholder; provided that after the expiration of a period of ten (10) Business Days from the delivery to any Non-Controlling Noteholder by the Special Servicer of written notice of a proposed action, together with copies of the notice, information and reports, the Special Servicer shall no longer be obligated to consult with such Non-Controlling Noteholder, whether or not such Non-Controlling  Noteholder has responded within such ten (10) Business Day period (unless, the Special Servicer proposes a new course of action that is materially different from the action previously proposed, in which case such ten (10) Business Day period shall be deemed to begin anew from the date of such proposal and delivery of all information relating thereto).  After a Securitization of any Note that is not the Lead Securitization Note, references in this paragraph to

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a Non-Controlling Noteholder as such term relates to such Note shall mean the related Non-Lead Securitization Subordinate Class Representative.

 

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

 

The Noteholders acknowledge that the Lead Securitization Servicing Agreement may contain certain provisions that give the Operating Advisor or Risk Retention Consultation Party certain non-binding consultation rights with respect to Major Decisions and other events related to compliance with the Risk Retention Rules applicable to the Lead Securitization.

 

(g)   The Noteholders acknowledge that so long as any Note is included
in a Securitization, the rights under Section 9.3.2 of the Mortgage Loan Agreement shall not be exercisable by any Noteholder.

 

(h)   [Reserved].

 

(i)    [Reserved.]

 

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

 

(k)   If an Event of Default under the Mortgage Loan has occurred and is continuing, the Special Servicer may, in accordance with the terms and provisions of the Servicing Agreement and subject to the Servicing Standard, elect to sell the Mortgage Loan, subject to the consent right of the Controlling Noteholder (or its Controlling Noteholder Representative), in which case such sale would include all the A Notes and the Special Servicer shall provide notice to each Non-Lead Master Servicer, who shall provide notice to the related Non-Controlling Noteholder of the planned sale and of such Non-Controlling Noteholder’s opportunity to submit an offer on the A Notes together.

 

Each Non-Lead Noteholder hereby appoints the Lead Securitization Noteholder as its agent, and grants to the Lead Securitization Noteholder an irrevocable power of attorney coupled with an interest, and its proxy, for the purpose of soliciting and accepting offers for and consummating the sale of its respective Non-Lead Note.  Each Non-Lead Noteholder further

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agrees that, upon the request of the Lead Securitization Noteholder, the Non-Lead Noteholder shall execute and deliver to or at the direction of the Lead Securitization Noteholder such powers of attorney or other instruments as the Lead Securitization Noteholder may reasonably request to better assure and evidence the foregoing appointment and grant, in each case promptly following request, and shall deliver its respective original Non-Lead Note, endorsed in blank, to or at the direction of the Lead Securitization Noteholder in connection with the consummation of any such sale.  For the avoidance of doubt, this paragraph is subject to the consent right of the Controlling Noteholder in the immediately preceding paragraph.

 

The authority of the Lead Securitization Noteholder to sell a Non-Lead Note, and the obligations of a Non-Lead Noteholder to execute and deliver instruments or deliver the Non-Lead Note upon request of the Lead Securitization Noteholder, shall terminate and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization Note is repurchased by the Person that sold such Lead Securitization Note into the Lead Securitization from the Lead Securitization Trust in connection with a material breach of representation or warranty made by such Person with respect to the Lead Securitization Note or material document defect with respect to the documents delivered by such Person with respect to the Lead Securitization Note upon the consummation of the Lead Securitization.  The preceding sentence shall not be construed to grant to any Non-Lead Noteholder the benefit of any representation or warranty made by the Person that sold such Lead Securitization Note into the Lead Securitization or any document delivery obligation imposed on such Person under any mortgage loan purchase and sale agreement, instrument of transfer or other document or instrument that may be executed or delivered by such Person in connection with the Lead Securitization.

 

Section 6.              Appointment of Controlling Noteholder Representative. 

 

(a)   The Controlling Noteholder shall have the right at any time to appoint a controlling noteholder representative to exercise its rights hereunder (the “Controlling Noteholder Representative”).  The Controlling Noteholder shall have the right in its sole discretion at any time and from time to time to remove and replace the Controlling Noteholder Representative.  When exercising its various rights under Section 5 and elsewhere in this Agreement, the Controlling Noteholder may, at its option, in each case, act through the Controlling Noteholder Representative.  The Controlling Noteholder Representative may be any Person (other than a Borrower Party), including, without limitation, the Controlling Noteholder, any officer or employee of the Controlling Noteholder, any Affiliate of the Controlling Noteholder or any other unrelated third party.  No such Controlling Noteholder Representative shall owe any fiduciary duty or other duty to any other Person (other than the Controlling Noteholder).  All actions that are permitted to be taken by the Controlling Noteholder under this Agreement may be taken by the Controlling Noteholder Representative acting on behalf of the Controlling Noteholder and other Noteholders (and any Servicer) will accept such actions of the Controlling Noteholder Representative as actions of the Controlling Noteholder.  The Lead Securitization Noteholder (or any Servicer on its behalf) shall not be required to recognize any Person as a Controlling Noteholder Representative until the Controlling Noteholder has notified the Lead Securitization Noteholder (and any Servicer) of such appointment and, if the Controlling Noteholder Representative is not the same Person as the Controlling Noteholder, the Controlling Noteholder Representative provides the Lead Securitization Noteholder (and any Servicer) with written confirmation of its acceptance of such appointment, an address, any fax number and any email address for the delivery of notices and

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other correspondence and a list of officers or employees of such person with whom the parties to this Agreement may deal (including their names, titles, work addresses, telephone numbers, any fax numbers and any email addresses).  The Controlling Noteholder shall promptly deliver such information to any Servicer.  None of the Servicers, Operating Advisor and Trustee shall be required to recognize any person as a Controlling Noteholder Representative until they receive such information from the Controlling Noteholder.  The Controlling Noteholder agrees to inform each such Servicer or Trustee of the then-current Controlling Noteholder Representative.

 

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

 

(c)   Each of the other Noteholders acknowledges and agrees all of the aforementioned rights and obligations of the Controlling Noteholder and the Controlling Noteholder Representative set forth in Section 5(f) and 5(g) and this Section 6 shall be exercisable by the Lead Securitization Noteholder (or the applicable Person specified in the Servicing Agreement) to the extent set forth in the Servicing Agreement.

 

Section 7.              Special Servicer.  The Controlling Noteholder (or its Controlling Noteholder Representative), at its expense (including, without limitation, the reasonable costs and expenses of counsel to any third parties and costs and expenses of the terminated Special Servicer), shall have the right, at any time from time to time, to appoint a replacement Special Servicer with respect to the Mortgage Loan.  The Controlling Noteholder (or its Controlling Noteholder Representative) shall be entitled to terminate the rights and obligations of any Special Servicer under the Servicing Agreement, with or without cause, upon at least ten (10) Business Days’ prior written notice to the Special Servicer (provided, however, that the Controlling Noteholder and/or Controlling Noteholder Representative shall not be liable for any termination or similar fee in connection with the removal of the Special Servicer in accordance with this Section 7); such termination not to be effective unless and until (A) each Rating Agency delivers a Rating Agency Confirmation (to the extent any portion of the Mortgage Loan has been securitized); (B) the successor Special Servicer has assumed in writing (from and after the date such successor Special Servicer becomes the Special Servicer) all of the responsibilities, duties and liabilities of the Special Servicer under the Servicing Agreement from and after the date it becomes the Special

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Servicer as they relate to the Mortgage Loan pursuant to an assumption agreement reasonably satisfactory to the Trustee; and (C) the Trustee shall have received an opinion of counsel reasonably satisfactory to the Trustee to the effect that (x) the designation of such replacement to serve as Special Servicer is in compliance with the Servicing Agreement, (y) such replacement will be bound by the terms of the Servicing Agreement with respect to such Mortgage Loan and (z) subject to customary qualifications and exceptions, the applicable Servicing Agreement will be enforceable against such replacement in accordance with its terms. The Lead Securitization Noteholder shall promptly provide copies to any terminated Special Servicer of the documents referred to in the preceding sentence.  The Lead Securitization Noteholder will reasonably cooperate with the Controlling Noteholder in order to satisfy the foregoing conditions, including the Rating Agency Confirmation.

 

The Controlling Noteholder agrees and acknowledges that the Lead Securitization Servicing Agreement may contain provisions to the effect that any Special Servicer is subject to termination under the Lead Securitization Servicing Agreement based on a recommendation by the Operating Advisor if (A) the Operating Advisor determines, in its sole discretion exercised in good faith, that (1) the Special Servicer has failed to comply with the Servicing Standard and (2) a replacement of the Special Servicer would be in the best interest of the holders of securities issued under the Lead Securitization Servicing Agreement (as a collective whole) and (B) an affirmative vote of requisite certificateholders is obtained.  The Controlling Noteholder will retain its right to remove and replace the Special Servicer, but the Controlling Noteholder may not restore a Special Servicer that has been removed in accordance with the preceding sentence.

 

Section 8.              Payment Procedure.

 

(a)   The Lead Securitization Noteholder (or the Master Servicer on its behalf), in accordance with the priorities set forth in Section 3, and subject to the terms of the Servicing Agreement, will deposit or cause to be deposited all payments allocable to the Notes to the Collection Account or Companion Distribution Account established pursuant to the Servicing Agreement.  The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due to each Noteholder.  The Lead Securitization Noteholder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two (2) Business Days following the Lead Securitization Noteholder’s (or the Master Servicer’s acting on its behalf) receipt of properly identified and available funds from or on behalf of the Mortgage Loan Borrower; provided, however, that in the event the Master Servicer is in receipt of properly identified funds that are not available to the Master Servicer, the Master Servicer may instead deposit such amounts into the Collection Account and Companion Distribution Account, as applicable, on the same Business Day that such properly identified funds become available to the Master Servicer.

 

(b)   If the Lead Securitization Noteholder (or the Servicer on its behalf) determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of a Note must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Mortgage Loan Borrower or paid to such Noteholder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, the Lead Securitization Noteholder (or the Servicer on its behalf) shall not be required to distribute any portion thereof to such Noteholder and such Noteholder will promptly on demand by the Lead

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Securitization Noteholder (or the Servicer on its behalf) repay to the Lead Securitization Noteholder (or the Servicer on its behalf) any portion thereof that the Lead Securitization Noteholder (or the Servicer on its behalf) shall have theretofore distributed to such Noteholder, together with interest thereon at such rate, if any, as the Lead Securitization Noteholder shall have been required to pay to the Mortgage Loan Borrower, the Master Servicer, Special Servicer, any other Noteholder or such other Person with respect thereto.

 

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

 

(d)   Each Noteholder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Lead Securitization Noteholder (or the Servicer on its behalf) for application subject to and in accordance with this Agreement and the Servicing.  The Lead Securitization Noteholder (or the Servicer on its behalf) shall have the right to offset any amounts due hereunder from any other Noteholder, as applicable, with respect to the Mortgage Loan against any future payments due to such other Noteholder, as applicable, under the Mortgage Loan, provided, that each Noteholder’s obligations under this Section 8 are separate and distinct obligations from one another and in no event shall the Lead Securitization Noteholder (or the Servicer on its behalf) enforce the obligations of one Noteholder against another Noteholder.  Each Noteholder’s obligations under this Section 8 constitute absolute, unconditional and continuing obligations.

 

Section 9.              Limitation on Liability of the Noteholders.  No Noteholder (including any Servicer on a Noteholder’s behalf, but only to the extent that the Servicing Agreement does not impose any other standard upon any Servicer, in which case the Servicing Agreement shall control) shall have any liability to any other Noteholder except with respect to losses actually suffered due to the gross negligence, willful misconduct or breach of this Agreement on the part of such Noteholder.

 

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

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Section 10.            Bankruptcy.  Subject to the provisions of Section 5(f) hereof and the Servicing Standard, each Noteholder hereby covenants and agrees that only the Lead Securitization Noteholder (or the Servicer on its behalf) has the right to institute, file, commence, acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any Person in any such petition or otherwise invoke or cause any other Person to invoke an Insolvency Proceeding with respect to or against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official with respect to the Mortgage Loan Borrower or all or any part of its property or assets or ordering the winding-up or liquidation of the affairs of the Mortgage Loan Borrower.  Subject to the provisions of Section 5(f) hereof and the Servicing Standard, each Noteholder further agrees that only the Lead Securitization Noteholder, as a creditor, can make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application or take any other action in any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding.  Subject to the provisions of Section 5(f) hereof and the Servicing Standard, the Noteholders hereby appoint the Lead Securitization Noteholder as their agent, and grant to the Lead Securitization Noteholder an irrevocable power of attorney coupled with an interest, and their proxy, for the purpose of exercising any and all rights and taking any and all actions available to one or more of such Noteholders in connection with any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding, including, without limitation, the right to file and/or prosecute any claim, vote to accept or reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage Loan, and to file a motion to modify, lift or terminate the automatic stay with respect to the Mortgage Loan.  The Noteholders, hereby agree that, upon the request of the Lead Securitization Noteholder but subject to the provisions of Section 5(f), each other Noteholder shall execute, acknowledge and deliver to the Lead Securitization Noteholder all and every such further deeds, conveyances and instruments as the Lead Securitization Noteholder may reasonably request for the better assuring and evidencing of the foregoing appointment and grant.  All actions taken by any Servicer in connection with any Insolvency Proceeding are subject to and must be in accordance with the Servicing Standard.

 

Section 11.            [Reserved.]

 

Section 12.            [Reserved.] 

 

Section 13.            [Reserved.]

 

Section 14.            Representations of the Note A Holders.  Each of the Note A Holders represents and warrants that the execution, delivery and performance of this Agreement is within its corporate powers, has been duly authorized by all necessary corporate action, and does not contravene such Noteholder’s charter or any law or contractual restriction binding upon such Noteholder and that this Agreement is the legal, valid and binding obligation of such Noteholder as applicable enforceable against it in accordance with its terms.  Each of the Note A Holders represents and warrants that it is duly organized, validly existing, in good standing and possession of all licenses and authorizations necessary to carry on its respective business.  Each of the Note A Holders represents and warrants that (a) this Agreement has been duly executed and delivered by such Noteholder, (b) to such Noteholder’s actual knowledge, all consents, approvals, authorizations, orders or filings of or with any court or governmental agency or body, if any, required for the execution, delivery and performance of this Agreement by such Noteholder have

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

 

Section 15.            Each of the Note A Holders acknowledges that no other Noteholder owes such Noteholder any fiduciary duty with respect to any action taken under the Mortgage Loan Documents and, except as provided herein or in the Servicing Agreement, need not consult with such Noteholder with respect to any action taken by such Noteholder in connection with the Mortgage Loan.

 

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

 

Section 17.            Not a Security.  None of the Notes shall be deemed to be a security within the meaning of the Securities Act or the Exchange Act.

 

Section 18.            Other Business Activities of the Noteholders.  Each Noteholder acknowledges that each other Noteholder or its Affiliates may make loans or otherwise extend credit to, and generally engage in any kind of business with, (i) (a) the Mortgage Loan Borrower or (b) any direct or indirect parent of the Mortgage Loan Borrower or (c) any Affiliate of the Mortgage Loan Borrower or (d) any Affiliate of any direct or indirect parent of the Mortgage Loan Borrower, (ii) any entity that is a holder of debt secured by direct or indirect ownership interests in the Mortgage Loan Borrower or any Affiliate of the holder of such debt, or (iii) any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower or any Affiliate of a holder of such preferred equity (each, a “Mortgage Loan Borrower Related Party”), and receive payments on such other loans or extensions of credit to Mortgage Loan Borrower Related Parties and otherwise act with respect thereto freely and without accountability in the same manner as if this Agreement and the transactions contemplated hereby were not in effect.

 

Section 19.            Sale of the Notes.

 

(a)   [Reserved.]

 

(b)   [Reserved.]

 

(c)   In the case of any sale, assignment, transfer or other disposition of a participation interest in a Note, (i) such Noteholder’s obligations under this Agreement shall remain unchanged, (ii) such Noteholder shall remain solely responsible for the performance of such obligations, (iii) the other Noteholders and any Persons acting on their behalf shall continue to deal solely and directly with such Noteholder in connection with such Noteholder’s rights and

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obligations under this Agreement and the Servicing Agreement, and (iv) all amounts payable hereunder shall be determined as if such Noteholder had not sold such participation interest; provided, however, that if the applicable participant is a Qualified Institutional Lender (and delivers to the other Noteholders a certification from an authorized officer confirming its status as a Qualified Institutional Lender), such Noteholder, by written notice to the other Noteholders, may delegate to such participant such Noteholder’s right to exercise the rights of the Controlling Noteholder hereunder and under the Servicing Agreement.

 

(d)   Each of the Note A Holders shall have the right to Transfer all or any portion of its Note without the prior consent of any other Noteholder (i) prior to an Event of Default, to any party other than a Borrower Party and (ii) after an Event of Default, to any party, including a Borrower Party; provided, however, that following any Event of Default under the Mortgage Loan, a Note A Holder may only transfer all or any portion of its Note to a Borrower Party with the prior written consent of the Controlling Noteholder at any time when such Note A Holder is not the Controlling Noteholder; provided further, however, that following any Transfer of any A Note, the Mortgage Loan continues to be serviced in its entirety pursuant to the Servicing Agreement by a Servicer unaffiliated with Mortgage Loan Borrower.  For the avoidance of doubt, subject to Section 12, no Noteholder or the Servicer shall have any right to Transfer or cause the Transfer of any other Note. Notwithstanding the foregoing, without each non-transferring Note A Holder’s prior consent, and, if any such non-transferring Note A Holder’s Note or any portion thereof is held in a Securitization Trust, without a Rating Agency Confirmation with respect to the related Securitization, no Noteholder shall Transfer its Note or any portion thereof (or a participation interest in such Note) to a Borrower Party and any such Transfer shall be absolutely null and void and shall vest no rights in the purported transferee.

 

(e)   Notwithstanding any other provision hereof, any Noteholder may pledge (a “Pledge”) its Note to any entity (other than a Borrower Party) which has extended a credit or repurchase facility to such Noteholder and that is (x) either a Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated at least “A” (or the equivalent) or better by each Rating Agency or (y) to any Federal Reserve Bank or Federal Home Loan Bank to secure any obligation of such Noteholder to such bank and such pledge shall be enforceable in accordance with the terms thereof (a “Note Pledgee”), on terms and conditions set forth in this Section 19(e), it being further agreed that a financing provided by a Note Pledgee to a Noteholder or any person which Controls such Noteholder that is secured by such Noteholder’s interest in the applicable Note and is structured as a repurchase arrangement, shall qualify as a “Pledge” hereunder, provided that a Note Pledgee which is not a Qualified Institutional Lender may not take title to the pledged Note without (a) prior to the first Securitization of any Note, the consent of each other Noteholder and (b) after the closing of the first Securitization of any Note, Rating Agency Confirmation.  Upon written notice by the applicable Noteholder to each other Noteholder and any Servicer that a Pledge has been effected (including the name and address of the applicable Note Pledgee), each other Noteholder agrees to acknowledge receipt of such notice and thereafter agrees:  (i) to give Note Pledgee written notice of any default by the pledging Noteholder in respect of its obligations under this Agreement of which default such Noteholder has actual knowledge; (ii) to allow such Note Pledgee a period of ten (10) Business Days to cure a default by the pledging Noteholder in respect of its obligations to each other Noteholder hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that no amendment, modification, waiver or termination of this Agreement shall be effective against such Note Pledgee without the written

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consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed; (iv) that such other Noteholder shall give to such Note Pledgee copies of any notice of default under this Agreement simultaneously with the giving of same to the pledging Noteholder and accept any cure thereof by such Note Pledgee which such pledging Noteholder has the right (but not the obligation) to effect hereunder, as if such cure were made by such pledging Noteholder; (v) that such other Noteholder shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request, provided that any such certificate(s) shall be in a form reasonably satisfactory to such other Noteholder; and (vi) that, upon written notice (a “Redirection Notice”) to each other Noteholder and any Servicer by such Note Pledgee that the pledging Noteholder is in default, beyond any applicable cure periods, under the pledging Noteholder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging Noteholder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Noteholder), and until such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Noteholder or Servicer would otherwise be obligated to pay to the pledging Noteholder from time to time pursuant to this Agreement or any Servicing Agreement.  Any pledging Noteholder hereby unconditionally and absolutely releases each other Noteholder and any Servicer from any liability to the pledging Noteholder on account of any Noteholder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or any such other Noteholder to have been delivered by a Note Pledgee.  Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging Noteholder to such Note Pledgee (and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement.  In such event, the Noteholders and any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage Loan Borrower or any Affiliate thereof which is also a Qualified Institutional Lender at any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as the successor to the pledging Noteholder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender shall assume in writing the obligations of the pledging Noteholder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement.  The rights of a Note Pledgee under this Section 19(e) shall remain effective as to any Noteholder (and any Servicer) unless and until such Note Pledgee shall have notified any such Noteholder (and any Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

 

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

 

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

 

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

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

 

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

 

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

 

Section 20.            Assignment and Assumption Upon Transfer.  In connection with any Transfer of a Note to any entity (but excluding (x) any participant and (y) any Pledgee unless and until it realizes on its Pledge), a transferee shall execute an assignment and assumption agreement whereby such transferee assumes all of the obligations of the applicable Noteholder hereunder with respect to such Note thereafter accruing and agrees to be bound by the terms of this Agreement, including the restrictions on Transfers set forth in Section 19, from and after the date of such assignment.  Notwithstanding the preceding sentence, neither the Trustee nor any Non-Lead Trustee shall be required to execute an assignment and assumption agreement in connection with any Transfer of a Note if the obligations are assumed pursuant to the Lead Securitization Servicing Agreement or a Non-Lead Securitization Servicing Agreement, as the case may be.  In connection with a Transfer of a Note, the Agent shall not recognize any attempted or purported transfer of any Note in violation of the provisions of Section 19 and this Section 20.  Any such purported transfer shall be absolutely null and void and shall vest no rights in the purported transferee. Each Noteholder desiring to effect such transfer shall, and does hereby agree to, indemnify the Agent and any other Noteholder against any liability that may result if the transfer is not made in accordance with the provisions of this Agreement. 

 

Section 21.            Registration of the Notes.  The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”) for the registration and transfer of the Notes.  The Agent shall serve as the initial Note registrar and the Agent hereby accepts such appointment.  The names and addresses of the holders of the Notes and the names and addresses of any transferee of any Note of which the Agent has received notice, in the form of a copy of the assignment and assumption agreement referred to in Section 20, and the principal amounts (and stated interest) of the Note owing to each such Noteholder, shall be registered in the Note Register.  The Person in whose name a Note is so registered shall be deemed and treated as the sole owner and holder thereof for all purposes of this Agreement, except in the case of the Initial Noteholders who may hold their Notes through a nominee.  Upon request of a Noteholder, the Agent shall provide such party with the names and addresses of the Noteholders. To the extent another party is appointed as Agent hereunder, the Noteholders hereby designate such person as their agent under this Section 21 solely for purposes of maintaining the Note Register.  The parties intend for the Mortgage Loan

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to be in registered form for federal income tax purposes under Section 5f.103-1(c) of the United States Treasury Regulations.

 

Section 22.            [Reserved.] 

 

Section 23.            No Pledge.  This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by any one or more Noteholders to any one or more other Noteholders.  Except as otherwise provided in this Agreement and the Servicing Agreement, no Non-Lead Noteholder shall have any interest in any property taken as security for the Mortgage Loan, provided, however, that if any such property or the proceeds of any sale, lease or other disposition thereof shall be received, then each Non-Lead Noteholder shall be entitled to receive its share of the application thereof in accordance with the terms of this Agreement and/or the Servicing Agreement.

 

Section 24.            Governing Law; Waiver of Jury Trial.  THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).  EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

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

 

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

 

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

 

(c)   AGREES THAT SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE 

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PREPAID, TO ITS ADDRESS SET FORTH HEREIN OR AT SUCH OTHER ADDRESS OF WHICH A PARTY HEREIN SHALL HAVE BEEN NOTIFIED; AND

 

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

 

Section 26.            Modifications; Amendment.  This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by each Noteholder.  Additionally, for as long as any Note is contained in a Securitization Trust, the Noteholders shall not amend or modify this Agreement without first receiving a Rating Agency Confirmation; provided that no such confirmation from the Rating Agencies shall be required in connection with a modification or amendment (i) to cure any ambiguity, or (ii) entered into pursuant to Section 38 of this Agreement or (iii) to correct or supplement any provision herein that may be defective or inconsistent with any other provisions of this Agreement or the Servicing Agreement.

 

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

 

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

 

Section 29.            Captions.  The titles and headings of the paragraphs of this Agreement have been inserted for convenience of reference only and are not intended to summarize or otherwise describe the subject matter of the paragraphs and shall not be given any consideration in the construction of this Agreement.

 

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

 

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

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Section 32.            [Reserved.]

 

Section 33.            Custody of Mortgage Loan Documents.  The originals of all of the Mortgage Loan Documents (other than the Notes) will be held by the Lead Securitization Noteholder (or a custodian acting on behalf of the Lead Securitization Noteholder) who shall act as secured party under the Mortgage Loan Documents on behalf of the registered holders of the Notes.  Notwithstanding anything to the contrary in this Agreement, upon the Lead Securitization, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be held by the Custodian.  Each Note shall be held by the respective Noteholder or a custodian appointed by such Noteholder.

 

Section 34.            Notices.  All notices required hereunder shall be given by (i) writing and personally delivered, (ii) sent by facsimile transmission (during business hours) if a party has provided a facsimile number, (iii) reputable overnight delivery service (charges prepaid), (iv) sent by electronic mail containing language requesting the recipient to confirm receipt thereof if a party has provided an electronic mail address and only if such electronic mail is promptly followed by a written notice or (iv) certified United States mail, postage prepaid return receipt requested, and addressed to the respective parties at their addresses set forth on Exhibit B hereto, or at such other address as any party shall hereafter inform the other party by written notice given as aforesaid.  All written notices so given shall be deemed effective upon receipt.

 

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

 

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

 

Section 36.            Certain Matters Affecting the Agent.

 

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

 

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

 

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

 

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

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

 

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

 

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

 

Section 37.            Termination of Agent.  The Agent may be terminated at any time upon ten (10) days prior written notice from the Note A-1 Holder.  In the event that the Agent is terminated pursuant to this Section 37, all of its rights and obligations under this Agreement shall be terminated, other than any rights or obligations that accrued prior to the date of such termination.

 

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

 

Section 38.            Resizing.  In connection with the Mortgage Loan, each Noteholder agrees, subject to clause (iii)(y) below, that if any Note A Holder determines that it is advantageous to resize its Note by causing the Mortgage Loan Borrower to execute amended and restated or additional pari passu notes (in either case, “New Notes”) reallocating the principal of such Note to such New Notes, each Noteholder other than the resizing Noteholder shall cooperate with the resizing Noteholder to effect such resizing at such resizing Noteholder’s expense; provided that (i) the aggregate principal balance of all outstanding New Notes following the creation thereof is no greater than the principal balance of such Note or Notes immediately prior to the creation of the New Notes, (ii) the weighted average interest rate of all outstanding New Notes following the creation thereof is the same as the interest rate of the related Note or Notes immediately prior to the creation of the New Notes, and (iii) no such resizing shall (x) change the interest allocable to, or the amount of any payments due to, any other Noteholder, or priority of such payments, or

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(y) increase any other Noteholder’s obligations or decrease any other Noteholder’s rights, remedies or protections.  In connection with any resizing of any A Note, the related Noteholder may allocate its rights hereunder among the New Notes in any manner in its sole discretion. 

 

Section 39.            Conflict.  To the extent of any inconsistency between the Servicing Agreement, on one hand, and this Agreement, on the other, this Agreement shall control.

 

Section 40.            Cooperation in Securitization.

 

(a)           Each Noteholder acknowledges that each Noteholder may elect, in its sole discretion, to include its Note in a Securitization.  In connection with a Securitization of any A Note, each other Noteholder, at the request of the related securitizing Noteholder, shall use commercially reasonable efforts, at the requesting Noteholder’s expense, to satisfy, and to cooperate with the requesting Noteholder in attempting to cause the Mortgage Loan Borrower to satisfy, the market standards to which the requesting Noteholder customarily adheres or which may be reasonably required in the marketplace or by the Rating Agencies in connection with such Securitization, including, entering into (or consenting to, as applicable) any modifications to this Agreement or the Mortgage Loan Documents and to cooperate with the requesting Noteholder in attempting to cause the Mortgage Loan Borrower to execute such modifications to the Mortgage Loan Documents, in any such case, as may be reasonably requested by the Rating Agencies to effect such Securitization; provided, however, that either in connection with such Securitization or otherwise at any time prior to such Securitization no other Noteholder shall be required to modify or amend this Agreement or any Mortgage Loan Documents (or consent to such modification, as applicable) in connection therewith, if such modification or amendment would (i) change the interest allocable to, or the amount of any payments due to or priority of any payments to be made to, such Noteholder, (ii) increase such Noteholder’s obligations or decrease such Noteholder’s rights, remedies or protections hereunder or under any Mortgage Loan Document, or (iii) otherwise materially adversely affect the rights and interests of such Noteholder.  In connection with any such Securitization of an A Note, each other Noteholder agrees to provide, for inclusion in any disclosure document relating to such Securitization, such customary non-confidential information concerning such Noteholder as the requesting Noteholder reasonably determines to be necessary to satisfy its disclosure obligations in connection with such Securitization.  Each Noteholder covenants and agrees that if it is not the requesting Noteholder, it shall use commercially reasonable efforts to cooperate with the requests of each Rating Agency and the requesting Noteholder in connection with the preparation of any offering documents in connection with the Securitization, and to review and respond reasonably promptly with respect to any information relating to it in any Securitization document, all at the cost and expense of the requesting Noteholder.  Each Noteholder acknowledges that the information provided by it to the requesting Noteholder pursuant to this Section 40 may be incorporated into the offering documents for a Securitization.  A requesting Note A Holder and each Rating Agency shall be entitled to rely on the information supplied by each other Noteholder pursuant to this Section 40.

 

(b)   Each Note A Holder securitizing its Note may, at its election, deliver to each other Noteholder drafts of the preliminary and final Securitization offering memoranda, prospectus, preliminary prospectus and any other disclosure documents and (in the case of the Lead Securitization) the Servicing Agreement simultaneously with distributions of any such documents to the general working group of the related Securitization.  Each other Noteholder may,

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at its election, review and comment thereon insofar as it relates to such other Noteholder and/or its Note, and, if such other Noteholder elects to review and comment, such other Noteholder shall review and comment thereon as soon as possible (but in no event later than (i) in the case of the first draft thereof, two (2) Business Days after receipt thereof and (ii) in the case of each subsequent draft thereof, the deadline provided to the general working group of the related Securitization for review and comment), and if such other Noteholder fails to respond within such time, such other Noteholder shall be deemed to have elected to not comment thereon (but no failure to comment shall constitute a waiver of such other Noteholder’s rights hereunder or under the Mortgage Loan Documents).  In the event of any disagreement between any such other Noteholder with respect to the preliminary and final offering memoranda, prospectus, free writing prospectus or any other disclosure documents, the requesting Noteholder’s determination shall control (the parties acknowledging that no inaccuracy in such documents shall in any respect prejudice any such other Noteholder’s rights hereunder or under the Mortgage Loan Documents).  No such other Noteholder shall have any obligation or liability with respect to any such offering documents other than the accuracy of any comments it elects to make regarding itself.

 

(c)           Notwithstanding anything herein to the contrary, each Note A Holder acknowledges and agrees that (i) no other Noteholder shall be required to incur any out-of-pocket expenses in connection with such Note A Holder’s respective Securitization of such Note A Holder’s A Note, and (ii) each such other Noteholder shall only be required to disclose such customary non-confidential information reasonably determined by the requesting Note A Holder to be necessary to satisfy its disclosure obligations in connection with such Note A Holder’s respective Securitization.

 

[SIGNATURE PAGE FOLLOWS]

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

	
 

	
 

	
 

	
 

	
INITIAL NOTE A-1 HOLDER AND INITIAL AGENT:

	
 

	
 

	
 

	
 

	
DEUTSCHE BANK AG, NEW YORK BRANCH

	
 

	
 

	
 

	
 

	
By:

	

 /s/ Matt Smith

	
 

	
 

	
Name: Matt Smith

	
 

	
 

	
Title:   Director

	
 

	
 

	
 

	
 

	
By:

	
/s/ Natalie
D. Grainger

	
 

	
 

	
Name: Natalie
D. Grainger

	
 

	
 

	
Title:   Director

	
 

	
 

	
 

	
 

	
INITIAL NOTE A-2 HOLDER:

	
 

	
 

	
 

	
 

	
DEUTSCHE BANK AG, NEW YORK BRANCH

	
 

	
 

	
 

	
 

	
By:

	
/s/ Matt Smith

	
 

	
 

	
Name: Matt Smith

	
 

	
 

	
Title:   Director

	
 

	
 

	
 

	
 

	
By:

	
/s/ Natalie
D. Grainger

	
 

	
 

	
Name: Natalie
D. Grainger

	
 

	
 

	
Title:   Director

	
 

	
 

	
 

	
 

	
INITIAL NOTE A-3 HOLDER:

	
 

	
 

	
 

	
 

	
DEUTSCHE BANK AG, NEW YORK BRANCH

	
 

	
 

	
 

	
 

	
By:

	
/s/ Matt Smith

	
 

	
 

	
Name: Matt Smith

	
 

	
 

	
Title:   Director

	
 

	
 

	
 

	
 

	
By:

	
/s/ Natalie
D. Grainger

	
 

	
 

	
Name: Natalie
D. Grainger

	
 

	
 

	
Title:   Director

 

Agreement
Between Noteholders (CIRE  Equity Retail & Industrial Portfolio)

 

    

    

    

 

	
 

	
 

	
 

	
 

	
INITIAL NOTE A-4 HOLDER:

	
 

	
 

	
 

	
 

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

	
 

	
 

	
 

	
 

	
By:

	
/s/ Henry Chung

	
 

	
 

	
Name:  Henry Chung

	
 

	
 

	
Title:   Managing Director

	
 

	
 

	
 

	
 

	
By:

	
/s/ Racquel A.C Small

	
 

	
 

	
Name: Racquel A.C Small

	
 

	
 

	
Title:   Executive Director

	
 

	
 

	
 

	
INITIAL NOTE A-5 HOLDER:

	
 

	
 

	
 

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

	
 

	
 

	
 

	
 

	
By:

	
/s/ Henry Chung

	
 

	
 

	
Name: Henry Chung

	
 

	
 

	
Title:   Managing Director

	
 

	
 

	
 

	
 

	
By:

	
/s/ Racquel A.C Small

	
 

	
 

	
Name: Racquel A.C Small

	
 

	
 

	
Title:   Executive Director

 

Agreement
Between Noteholders (CIRE  Equity Retail & Industrial Portfolio)

 

    

    

    

 

	
 

	
 

	
 

	
INITIAL NOTE A-6 HOLDER:

	
 

	
 

	
 

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

	
 

	
 

	
 

	
 

	
By:

	/s/ Henry Chung

	
 

	
 

	
Name: Henry Chung

	
 

	
 

	
Title:   Managing Director

	
 

	
 

	
 

	
 

	
By:

	
/s/ Racquel A.C Small 

	
 

	
 

	
Name: Racquel A.C Small

	
 

	
 

	
Title:   Executive Director

 

 Agreement
Between Noteholders (CIRE  Equity Retail & Industrial Portfolio)

    

    

    
 

EXHIBIT A

 

MORTGAGE LOAN SCHEDULE

 

A.            Description of Mortgage Loan:

 

	
Mortgage Loan Agreement:

	
Loan Agreement, dated as of May 9, 2019  (as amended, restated, replaced, supplemented or otherwise modified from time to time), between Deutsche Bank AG, New York Branch, UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York, and the entities listed , as borrower

	
Borrowers

	
CP Denver REH, LLC

Glendale REH, LLC

IFCO Homeland REH, LLC

Pecan REH, LLC

Pear Tree REH, LLC

Valley Plaza REH, LLC

Val Vista REH, LLC

Wood Village REH, LLC

2621 Hall Ave REH, LLC

2641 Hall Avenue REH, LLC

606 W Troy REH, LLC

    A-1

    

    

	
Location of Mortgaged Property:

	
7475-7759 E Iliff Ave & 2150 Quebec St, Denver, CO 80207

 

NE Corner of Bell Rd & 59th Ave, Glendale, AZ 85308

 

5700 US Highway 17 South, Bartow, FL 33830

 

NE Corner of W Lower Buckeye Rd & S 99th Ave, Tolleson, AZ 85353

 

504-550 E Perkins St & 126-253 N Orchard Ave, Ukiah, CA 95482

 

NE Corner of S McClintock Dr & E Southern Ave, Tempe, AZ 85282

 

1395 E Warner Rd, Gilbert, AZ 85296

 

NE Corner of 223rd Ave & NE Glisan St, Wood Village, OR 97060

 

2621 Hall Ave, Riverside, CA 92509

 

2641 Hall Ave, Riverside, CA 92509

 

606 W Troy Ave, Indianapolis, IN 46225

	
Date of the Mortgage Loan:

	
May 9, 2019

	
Date of Note A-1:

	
May 9, 2019

	
Date of Note A-2:

	
May 9, 2019

	
Date of Note A-3:

	
May 9, 2019

	
Date of Note A-4:

	
May 9, 2019

	
Date of Note A-5:

	
May 9, 2019

	
Date of Note A-6:

	
May 9, 2019

    A-2

    

    

	
Initial Principal Amount of Mortgage Loan:

	
$128,600,000

	
Stated Maturity Date:

	
June 6, 2029

 

B.            Description of Note Interests:

 

	
Initial Note A-1 Principal Balance:

	
$30,000,000

	
Initial Note A-2 Principal Balance:

	
$25,000,000

	
Initial Note A-3 Principal Balance:

	
$22,160,000

	
Initial Note A-4 Principal Balance:

	
$22,000,000

	
Initial Note A-5 Principal Balance:

	
$20,000,000

	
Initial Note A-6 Principal Balance:

	
$9,440,000

	
Note A Rate:

	
4.139% per annum

    A-3

    

    

EXHIBIT B

 

Initial Note A-1 Holder, Initial Note A-2 Holder and Initial Note A-3 Holder:

 

Deutsche Bank AG, New York Branch
60 Wall Street, 10th Floor
New York, New York  10005
Attention:  Robert W. Pettinato, Jr.
Facsimile No.:  (212) 797-4489
E-mail: Robert.Pettinato@db.com

 

with a copy to:

 

Deutsche Bank AG, New York Branch
60 Wall Street, 10th Floor
New York, New York 10005
Attention:  General Counsel
Facsimile No. (646) 736-5721

 

Initial Note A-4 Holder, Initial Note A-5 Holder and Initial Note A-6 Holder:

 

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

1285 Avenue of the Americas

New York, New York 10019

Attention:  Henry Chung

Email:  henry.chung@ubs.com

 

with a copy to:

 

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

1285 Avenue of the Americas

New York, New York 10019

Attention: Chad Eisenberger

Email: chad.eisenberger@ubs.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP

200 Liberty Street

New York, New York  10281

Attention:  Frank Polverino, Esq.

Facsimile No.:  (212) 504-6666

Email: frank.polverino@cwt.com

    B-1

    

    
 

EXHIBIT C

PERMITTED FUND MANAGERS

 

	
1.

	
Alliance Bernstein

	
2.

	
Annaly Capital Management

	
3.

	
Apollo Real Estate Advisors

	
4.

	
Archon Capital, L.P.

	
5.

	
BlackRock, Inc.

	
6.

	
Clarion Partners

	
7.

	
Colony Capital, LLC / Colony Financial, Inc.

	
8.

	
Dune Real Estate Partners

	
9.

	
Eightfold Real Estate Capital, L.P.

	
10.

	
Fortress Investment Group, LLC

	
11.

	
Garrison Investment Group

	
12.

	
Goldman, Sachs & Co.

	
13.

	
H/2 Capital Partners LLC

	
14.

	
iStar Financial Inc.

	
15.

	
J.P. Morgan Investment Management Inc.

	
16.

	
LoanCore Capital

	
17.

	
Lone Star Funds

	
18.

	
One William Street Capital Management, L.P.

	
19.

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

	
20.

	
Praedium Group

	
21.

	
Rialto Capital Management, LLC

	
22.

	
Rialto Capital Advisors LLC

	
23.

	
Rockpoint Group

	
24.

	
Rockwood

	
25.

	
RREEF Funds

	
26.

	
Square Mile Capital Management

	
27.

	
Starwood Capital Group/Starwood Financial Trust

	
28.

	
Teachers Insurance and Annuity Association of America

	
29.

	
The Blackstone Group

	
30.

	
The Carlyle Group

	
31.

	
Walton Street Capital, L.L.C.

	
32.

	
Whitehall Street Real Estate Fund, L.P.Exhibit 4.32

 

Execution Copy

 

 

 

 

 

WELLS FARGO BANK,

NATIONAL ASSOCIATION,

Master Servicer

 

 

and

 

 

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

Primary Servicer

 

 

PRIMARY SERVICING AGREEMENT

Dated as of August 1, 2019

 

 

 

 

 

 

 

 

 

 

BBCMS Mortgage Trust 2019-C4,

Commercial Mortgage Pass-Through Certificates

Series 2019-C4

 

 

    	 	 	 

     

    

Page

 

 

	ARTICLE I DEFINITIONS	1
	Section 1.01	Defined Terms	1
	ARTICLE II MASTER SERVICER’S ENGAGEMENT OF PRIMARY SERVICER TO PERFORM SERVICING RESPONSIBILITIES	3
	Section 2.01	Contract for Servicing; Possession of Mortgage Loan Documents and Serviced Companion Loan Documents	3
	Section 2.02	Notice of Breach of Representations and Warranties	4
	ARTICLE III SERVICING OF THE MORTGAGE LOAN AND THE SERVICED COMPANION LOANS	4
	Section 3.01	Primary Servicer to Service	4
	Section 3.02	Merger or Consolidation of the Primary Servicer	25
	Section 3.03	Limitation on Liability of the Primary Servicer and Others	25
	Section 3.04	Primary Servicer Not to Resign	26
	Section 3.05	No Transfer or Assignment of Servicing	26
	Section 3.06	Indemnification	27
	ARTICLE IV DEFAULT	27
	Section 4.01	Events of Default	27
	Section 4.02	Waiver of Defaults	30
	Section 4.03	Other Remedies of Master Servicer	31
	ARTICLE V TERMINATION	31
	Section 5.01	Termination	31
	Section 5.02	Termination With Cause	31
	Section 5.03	Termination of Duties with Respect to Specially Serviced Loans	32
	ARTICLE VI MISCELLANEOUS	32
	Section 6.01	Successor to the Primary Servicer	32
	Section 6.02	Financial Statements	32
	Section 6.03	Closing	32
	Section 6.04	Closing Documents	33
	Section 6.05	Notices	33

 

    	 	ii	 

     

    

(continued)

Page

 

	Section 6.06	Severability Clause	34
	Section 6.07	Counterparts	35
	Section 6.08	Governing Law	35
	Section 6.09	Protection of Privileged Information	35
	Section 6.10	Intention of the Parties	35
	Section 6.11	Third Party Beneficiary	35
	Section 6.12	Successors and Assigns; Assignment of Agreement	36
	Section 6.13	Waivers	36
	Section 6.14	Exhibits	36
	Section 6.15	General Interpretive Principles	36
	Section 6.16	Complete Agreement	36
	Section 6.17	Further Agreement	36
	Section 6.18	Amendments	37
	Section 6.19	No Partnership	37

 

    	 	iii	 

     

    

 

	EXHIBIT A MORTGAGE LOAN SCHEDULE	A-1
	EXHIBIT B PRIMARY SERVICER’S OFFICER’S CERTIFICATE	B-1
	EXHIBIT C POOLING AND SERVICING AGREEMENT	C-1
	EXHIBIT D RESERVED	 
	EXHIBIT E QUARTERLY SERVICING CERTIFICATION	E-1
	EXHIBIT F FORM OF ACCOUNT CERTIFICATION	F-1
	EXHIBIT G FORM OF COLLECTION REPORT	G-1
	EXHIBIT H FORM OF CERTIFICATE OF INSURANCE	H-1
	EXHIBIT I NEW LEASE INFORMATION	I-1
	EXHIBIT J MONTHLY SERVICING ACCOUNTS CERTIFICATION	J-1

 

    	 	iv	 

     

    

This is a Primary Servicing
Agreement (the “Agreement”), dated as of August 1, 2019, by and between MIDLAND LOAN SERVICES, A DIVISION OF
PNC BANK, NATIONAL ASSOCIATION, having an office at 10851 Mastin Street, Suite 700, Overland Park, Kansas 66210, and its successors
and assigns (the “Primary Servicer”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, having an office at Three
Wells Fargo, 401 South Tryon Street, 8th Floor, MAC 1050-084, Charlotte, North Carolina 28202, and its successors and
assigns (the “Master Servicer”).

 

WITNESSETH:

 

WHEREAS, Barclays Commercial
Mortgage Securities LLC, as depositor (the “Depositor”), Rialto Capital Advisors, LLC, as special servicer (the
“Special Servicer”), Wilmington Trust, National Association, as trustee (the “Trustee”),
Wells Fargo Bank, National Association, as certificate administrator (the “Certificate Administrator”), Park
Bridge Lender Services LLC, as operating advisor (in such capacity, the “Operating Advisor”) and as asset representations
reviewer (in such capacity, the “Asset Representations Reviewer”), and the Master Servicer have entered into
that certain Pooling and Servicing Agreement dated as of August 1, 2019, as amended, modified and restated from time to time (the
“Pooling and Servicing Agreement”), whereby the Master Servicer shall service certain mortgage loans and related
companion loans on behalf of the Trustee;

 

WHEREAS, Section 3.20
of the Pooling and Servicing Agreement authorizes the Master Servicer to enter into this agreement with the Primary Servicer whereby
the Primary Servicer shall service each mortgage loan listed on Exhibit A (the “Mortgage Loan Schedule”)
attached hereto (each herein referred to as a “Mortgage Loan”) and the Meidinger Tower Serviced Pari Passu Companion
Loan, the Maui Portfolio Serviced Pari Passu Companion Loan and the Ambler Yards Serviced Pari Passu Companion Loan (the “Serviced
Companion Loans”) on behalf of the Master Servicer.

 

NOW, THEREFORE, in consideration
of the mutual agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the Master Servicer and the Primary Servicer hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

		Section	 1.01                   
Defined Terms.

 

Unless otherwise specified
in this Agreement, all capitalized terms not otherwise defined herein shall have the meanings set forth in the Pooling and Servicing
Agreement. As used herein, the following terms have the meanings assigned to them in this Section 1.01:

 

“Collection Report”
shall mean the monthly report prepared by the Primary Servicer setting forth, with respect to the Mortgage Loan and Serviced Companion
Loans and the most recently ended Collection Period prior to the due date of such report, the information described on Exhibit

    	 	1	 

     

    

G attached hereto.

 

“Incorporated Sections” shall
have the meaning specified in Section 3.01(b) of this Agreement.

 

“Mortgage Loan” shall have the meaning
specified in the recitals hereto.

 

“Mortgage Loan Schedule” shall have
the meaning specified in the recitals hereto.

 

“Prepayment Interest Shortfall Exposure”
shall have the meaning set forth in Section

3.01(c)(23) of this Agreement.

 

“Primary Servicer Companion Distribution
Account” shall have the meaning set forth in Section 3.01(c)(8) of this Agreement.

 

“Primary Servicer
Collection Account” shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

 

“Primary Servicer
Remittance Amount” shall mean, with respect to any date and with respect to the Mortgage Loan, an amount equal to, without
duplication, (a) the sum of (i) the aggregate of the amounts on deposit attributable to the Mortgage Loan in the Primary Servicer
Collection Account as of such date, (ii) if and to the extent not included in the amount referred to in subclause (a)(i), the aggregate
amount transferred from the REO Account (if established) to the Primary Servicer as of such date, to the extent not previously
remitted to the Master Servicer, (iii) the aggregate of all other amounts received with respect to the Mortgage Loan as of such
date to the extent not previously remitted to the Master Servicer, and (iv) if and to the extent not previously remitted to the
Master Servicer, any amounts deposited by the Primary Servicer pursuant to Section 3.01(c)(23) of this Agreement; net of
(b) the portion of the amount described in subclause (a) of this definition that represents one or more of the following: (i) Escrow
Payments or (ii) any amounts that the Primary Servicer is entitled to retain as compensation pursuant to Section 3.11 of
the Pooling and Servicing Agreement as incorporated herein pursuant to Section 3.01(c)(18) of this Agreement.

 

“Primary Servicer
Remittance Date” shall mean the first Business Day after each Determination Date.

 

“Primary Servicer
Reporting Date” shall mean the first Business Day after each Determination Date.

 

“Primary Servicing
Fee” shall mean, with respect to the Mortgage Loan, the Serviced Companion Loans and any related REO Loan, the fee payable
to the Primary Servicer pursuant to Section 3.01(c)(18) of this Agreement.

 

“Primary Servicing
Fee Rate” shall mean, with respect to the Mortgage Loan and Serviced Companion Loans, the rate that corresponds to such
Mortgage Loan and Serviced Companion Loan set forth on Exhibit A hereto under
the heading “Primary Servicing Fee.”

    	 	2	 

     

    

 

“Prohibited Prepayment” shall
have the meaning set forth in Section 3.01(c)(23) of this Agreement.

 

“Serviced Companion
Loans” shall have the meaning specified in the recitals hereto.

 

“Serviced Whole
Loan” shall mean the Serviced Companion Loans and the related Mortgage Loan.

 

ARTICLE II

 

MASTER SERVICER’S ENGAGEMENT OF PRIMARY
SERVICER

TO PERFORM SERVICING RESPONSIBILITIES

 

Section 2.01                   
Contract for Servicing; Possession of Mortgage Loan Documents and Serviced Companion Loan Documents.

 

The Master Servicer, by
execution and delivery of this Agreement, does hereby contract with the Primary Servicer, subject to the terms of this Agreement,
for the servicing of the Mortgage Loan and the Serviced Companion Loans. On and after the Closing Date, the Primary Servicer shall
hold any portion of the Servicing File or the Mortgage File (including without limitation, any original letter of credit) in the
possession of the Primary Servicer in trust by the Primary Servicer, on behalf of the Master Servicer for the benefit of the Certificateholders.
The Primary Servicer’s possession of any portion of the Servicing File or the Mortgage File shall be at the will of the Master
Servicer and the Trustee for the sole purpose of facilitating the servicing or the supervision of servicing of the related Mortgage
Loan and Serviced Companion Loans pursuant to this Agreement, and such retention and possession by the Primary Servicer shall be
in a custodial capacity only. Any portion of the Servicing File or the Mortgage File retained by the Primary Servicer shall be
identified in accordance with its customary procedures by assigning a loan number that will reflect the ownership of the related
Mortgage Loan by the Trustee. The Primary Servicer shall release from its custody any portion of the Servicing File or the Mortgage
File retained or held by it only in accordance with this Agreement and, to the extent incorporated herein, the Pooling and Servicing
Agreement. Within twenty (20) days following the Closing Date the Primary Servicer shall provide to the Master Servicer a certification
executed by a duly authorized officer of the Primary Servicer, certifying to the Master Servicer as to the original letters of
credit held by the Primary Servicer and identifying the letters of credit, the amounts of the letters of credit and the Mortgage
Loan or the Serviced Companion Loans to which they relate. The Primary Servicer shall hold the original of each letter of credit
relating to the Mortgage Loan in trust on behalf of the Trust in order to draw on such letter of credit on behalf of the Trust.
The Primary Servicer shall forward a copy of each letter of credit to the Master Servicer. During the term of this Agreement, the
Primary Servicer will also provide to the Master Servicer a copy of any lease, amendments to Mortgage Loan documents, the Serviced
Companion Loan documents and other documents related to the Mortgaged Property securing the related Mortgage Loan or the Serviced
Companion Loans or related to the Mortgage Loan or Serviced Companion Loans as soon as possible after receipt or execution thereof,
as applicable. References in this Section 2.01 to the Primary Servicer possessing the Mortgage File are not intended to
imply that the Primary Servicer

    	 	3	 

     

    

is the primary custodian of the Mortgage File,
but rather such references are contained in this Section 2.01 solely because the Primary Servicer may from time to time,
have possession of one or more documents in the Mortgage File in connection with certain servicing duties but shall return or forward
the original of such documents upon receipt to the Master Servicer and shall maintain a copy of such document as necessary for
servicing the Mortgage Loan.

 

		Section 	2.02                   
Notice of Breach of Representations and Warranties.

 

Following its receipt from
the Depositor, the Master Servicer shall provide a copy of the applicable Mortgage Loan Purchase Agreement to the Primary Servicer.
The Primary Servicer shall promptly notify in writing the Master Servicer after the Primary Servicer discovers (without implying
any duty of the Primary Servicer to make, or attempt to make, such a discovery) or receives notice alleging a Defect or a Breach
contained in such Mortgage Loan Purchase Agreement or a document defect that could give rise to a cure or repurchase obligation.
The Primary Servicer shall reasonably cooperate with the Master Servicer in pursuing its obligations to make a repurchase claim
against the related Mortgage Loan Seller. The Primary Servicer shall notify the Master Servicer in writing within five (5) Business
Days after the Primary Servicer discovers or receives notice alleging a Defect or a Breach or receives notice of a 15Ga-1 Repurchase
Request. The Primary Servicer shall promptly, but in no event later than five (5) Business Days after receipt, provide to the Master
Servicer a copy of any written 15Ga-1 Repurchase Request, withdrawal of a 15Ga-1 Repurchase Request, or rejection of a 15Ga-1 Repurchase
Request received by the Primary Servicer and such other information in the possession of the Primary Servicer reasonably requested
by the Master Servicer to fulfill its obligations under Section 2.02(g) and Section 2.03 of the Pooling and Servicing Agreement.

 

ARTICLE III

 

SERVICING
OF THE MORTGAGE LOAN AND SERVICED COMPANION LOANS

 

		Section	 3.01                   
Primary Servicer to Service.

 

(a)               
The Primary Servicer, as an independent contractor, shall service and administer the Mortgage Loan and the Serviced Companion
Loans pursuant to this Agreement in a manner consistent with the Servicing Standard under the Pooling and Servicing Agreement and,
in the case of the Serviced Companion Loans, as a collective whole with the related Mortgage Loan, taking into account the pari
passu nature of such Serviced Companion Loans.

 

(b)              
The Primary Servicer shall perform, on behalf of the Master Servicer, all of the obligations of the Master Servicer (with
respect to the Mortgage Loan and the Serviced Companion Loans subject to this Agreement) as set forth in those sections of the
Pooling and Servicing Agreement specifically incorporated herein pursuant to Section 3.01(c) of this Agreement (the “Incorporated
Sections”), as modified by Section 3.01(c) of this Agreement, and the Master Servicer shall have the same rights
with respect to the Primary Servicer that the Trustee, the Certificate Administrator, the Risk Retention Consultation Party, the
Custodian, the Depositor, the Initial Purchasers, the Directing Certificateholder, the Controlling Class Certificateholder, the
Operating Advisor, the Asset Representations Reviewer, the Rating Agencies, the Underwriters,

    	 	4	 

     

    

the 17g-5 Information Provider, the Certificateholders,
the Serviced Companion Loan Noteholders and the Special Servicer (including, without limitation, the right of the Special Servicer
to direct the Master Servicer during certain periods) have with respect to the Master Servicer under the Pooling and Servicing
Agreement to the extent that the Primary Servicer is acting on behalf of the Master Servicer hereunder and except as otherwise
set forth herein. Without limiting the foregoing, and subject to Section 3.19 of the Pooling and Servicing Agreement as
modified herein, the Primary Servicer shall service and administer all of the Mortgage Loan and the Serviced Companion Loans that
are not Specially Serviced Loans; provided, however, that the Primary Servicer shall continue to receive payments (and provide
notice to the Master Servicer and Serviced Companion Loan Noteholders, as applicable, of such payments), collect information and
prepare and deliver reports to the Master Servicer required hereunder with respect to any Specially Serviced Loans and REO Properties
(and the related REO Loans), and render such incidental services with respect to any Specially Serviced Loans and REO Properties
as and to the extent as may be specifically provided for herein with respect to any Specially Serviced Loans and REO Properties
(and the related REO Loans) as are specifically provided for under Section 3.01(c) of this Agreement; provided, further,
however, that if the Special Servicer is not, and is not an Affiliate of, the Primary Servicer, the Primary Servicer shall not
be liable for its failure to comply with such duties insofar as such failure results from a failure by the Special Servicer to
provide sufficient information to the Primary Servicer to comply with such duties or the failure by the Special Servicer to otherwise
comply with its obligations under the Pooling and Servicing Agreement. All references herein to the respective duties of the Primary
Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.19
of the Pooling and Servicing Agreement, as modified herein, and to the Special Servicer’s rights to service Specially Serviced
Loans. Except as otherwise set forth below, for purposes of this Agreement, (i) references to the Trustee, the Certificate Administrator,
the Custodian, the Depositor, the Special Servicer, the Initial Purchasers, the Directing Certificateholder, the Underwriters,
the Operating Advisor, Risk Retention Consultation Party, the Asset Representations Reviewer, the Rating Agencies, the Controlling
Class Certificateholder, the 17g-5 Information Provider, the Serviced Companion Loan Noteholders and the Certificateholders in
the Incorporated Sections (and in the defined terms used therein) shall be deemed to be references to the Master Servicer hereunder,
(ii) references to the Master Servicer in the Incorporated Sections (and in the defined terms used therein) shall be deemed to
be references to the Primary Servicer hereunder, (iii) references to the Mortgage Loans, as defined in the Pooling and Servicing
Agreement, in the Incorporated Sections (and in the defined terms used therein) shall be deemed to be references to the Mortgage
Loan in this Agreement, and (iv) references to the Serviced Companion Loans and Serviced Pari Passu Companion Loans, each as defined
in the Pooling and Servicing Agreement, in the Incorporated Sections (and in the defined terms used therein) shall be deemed to
be references to the Serviced Companion Loans in this Agreement (such modification of the Incorporated Sections (and in the defined
terms used therein) pursuant to clauses (i), (ii), (iii) and (iv) of this sentence shall be referred to herein as the “References
Modification”). In each case where the Master Servicer is given any power to act under the provisions of the Incorporated
Sections, such power is hereby delegated to the Primary Servicer to the extent necessary to perform its obligations under this
Agreement and subject to the restrictions contained in this Agreement. With respect to all servicing responsibilities of the Master
Servicer under the Pooling and Servicing Agreement which are not being performed by the Primary Servicer under this Agreement,
the Primary Servicer shall reasonably cooperate with the Master Servicer to facilitate

    	 	5	 

     

    

the timely performance of such servicing responsibilities.

 

(c)              
The
following Sections of the Pooling and Servicing Agreement, unless otherwise provided in this Section 3.01(c) of this
Agreement, are hereby incorporated herein by reference as if fully set forth herein, and, for purposes of this Agreement, in
addition to the References Modification, are hereby further modified as set forth below:

 

(1)              
Section
1.02. The determination as to the application of amounts collected in respect of any Mortgage Loan or Serviced Companion Loan,
in the absence of express provisions in the related Mortgage Loan documents or to the extent that such terms authorize the lender
to use its discretion, shall be made by the Master Servicer.

 

(2)              
Sections 3.01(a) -
(f), (h), (j) and (m). Without limiting the generality of the obligations of the Primary Servicer hereunder, the Primary Servicer
shall monitor and certify on a quarterly basis, starting with the quarter ending December of 2019, within thirty (30) days of
the end of such quarter the information on the Mortgage Loan and the Serviced Companion Loan as required by, and in the form of,
Exhibit E attached hereto, pursuant to Section 3.01(c)(21) of this Agreement. In addition, without limiting
the generality of the foregoing, the Primary Servicer shall take all necessary action to continue all UCC Financing Statements
in favor of the originator of the Mortgage Loan and the Serviced Companion Loans or in favor of any assignee prior to the expiration
of such UCC Financing Statements. Notwithstanding the foregoing, the Primary Servicer’s authority is restricted as provided
in Section 3.01(c)(14) and (24) of this Agreement and is restricted to the same extent as the Master Servicer’s
actions are restricted by the Pooling and Servicing Agreement. The Primary Servicer shall notify the Master Servicer of any costs
and expenses due or incurred by the Primary Servicer relating to any modifications to or assignment of the related letter of credit
as contemplated by of the Pooling and Servicing Agreement (A) if the related Mortgage Loan documents do not require the related
Mortgagor to pay such costs and expenses or, relating to any modifications to or assignment of the related letter of credit, or
(B) if the related Mortgage Loan documents require the related Mortgagor to pay and the Primary Servicer has exercised reasonable
efforts to collect such costs and expenses from such Mortgagor. Upon such notice and to the extent that the Mortgage Loan Seller
is required under the applicable Mortgage Loan Purchase Agreement to pay such costs and expenses, the Master Servicer shall request
the Mortgage Loan Seller to pay such costs and expenses. If the Mortgage Loan Seller does not pay such costs and expenses, the
Master Servicer shall reimburse the Primary Servicer, to the extent permitted under the Pooling and Servicing Agreement, such
amounts as Servicing Advances or as servicing expenses from the Collection Account. Upon receipt of any such payment from the
Mortgage Loan Seller, the Master Servicer shall forward such payment to the Primary Servicer. Upon request by the Primary Servicer,
the Master Servicer shall coordinate with the applicable Mortgage Loan Seller as contemplated by the Pooling and Servicing Agreement
if a letter of credit is required to be drawn upon earlier than the date the applicable Mortgage Loan Seller has notified the
provider of such letter of credit pursuant to the Pooling and Servicing Agreement.

 

(3)              
Section 3.02. The Primary Servicer may not waive any Penalty Charges that the Master Servicer is permitted to waive
under Section 3.02 of the Pooling and Servicing Agreement without the consent of the Master Servicer. The Primary Servicer
shall promptly notify the Master

    	 	6	 

     

    

Servicer of any defaults under the Mortgage
Loan or Serviced Companion Loans, collection issues or customer issues and shall take no actions with respect to enforcing such
Mortgage Loan or Serviced Companion Loans without the prior written consent of the Master Servicer.

 

(4)              
Section 3.03(a). The creation of any Servicing Account shall be evidenced by a certification in the form of Exhibit
F attached hereto and a copy of such certification shall be furnished to the Master Servicer on or prior to the Closing
Date and thereafter to the Master Servicer upon any transfer of any Servicing Account.

 

(5)              
Sections 3.03(b) and (e). Without limiting the generality of the obligations of the Primary Servicer hereunder, the
Primary Servicer shall monitor and certify to the information on the Mortgage Loan and the Serviced Companion Loans with respect
to taxes, insurance premiums, assessments, ground rents and other similar items on a quarterly basis starting for the quarter ending
in December of 2019, within thirty (30) days of the end of such quarter as required by, and in the form of, Exhibit E
attached hereto, pursuant to Section 3.01(c)(21) of this Agreement.

 

(6)            
 Section 3.03(c) is not incorporated herein. The Primary Servicer shall not be required to or permitted to make any
Servicing Advances, except as provided in the following sentence. The Primary Servicer shall give the Master Servicer not less
than five (5) Business Days’ notice before the date on which the Master Servicer is required to make any Servicing Advance
with respect to any Mortgage Loan or Serviced Companion Loan; provided, however, that, with respect to any Servicing Advance required
to be made on an urgent or emergency basis such that the Primary Servicer is unable to provide the Master Servicer with sufficient
notice (which shall not be required to be more than five (5) Business Days’ notice) to enable the Master Servicer to make
such Servicing Advance, the Primary Servicer may, in the Primary Servicer’s sole discretion, make such Servicing Advance
with prior notice to the Master Servicer if reasonably practicable and the Master Servicer shall reimburse the Primary Servicer
for such Servicing Advance and interest thereon at the Reimbursement Rate within five (5) Business Days of receipt of written request
therefor. In addition, the Primary Servicer shall provide the Master Servicer with such information in its possession as the Master
Servicer may reasonably request to enable the Master Servicer to determine whether a requested Servicing Advance would constitute
a Nonrecoverable Servicing Advance.

 

(7)              
Section 3.04(a). The Primary Servicer shall establish a custodial account (hereinafter the “Primary Servicer Collection
Account”), meeting all of the requirements of the Collection Account, and references to the Collection Account shall
be references to such Primary Servicer Collection Account. The creation of any Primary Servicer Collection Account shall be evidenced
by a certification in the form of Exhibit F attached hereto and a copy of such certification shall be furnished
to the Master Servicer on or prior to the Closing Date and thereafter to the Master Servicer upon any transfer of the Primary
Servicer Collection Account. Notwithstanding the third paragraph of Section 3.04(a) of the Pooling and Servicing Agreement,
the Primary Servicer shall deposit into the Primary Servicer Collection Account and include in its Primary Servicer Remittance
Amount all Penalty Charges, Modification Fees, defeasance fees, assumption fees, loan service transaction fees, extension fees,
assumption application fees, consent fees, Prepayment Interest Excess, charges for beneficiary statements or demands, amounts

    	 	7	 

     

    

collected for checks returned for insufficient
funds and other fees and amounts collected from Mortgagors that constitute additional servicing compensation and/or additional
special servicing compensation (in each case, other than those to which the Primary Servicer is entitled pursuant to Section
3.01(c)(18) of this Agreement). Any amounts of additional special servicing compensation payable to the Special Servicer shall
be remitted to the Special Servicer by the Master Servicer. For purposes of the last paragraph of Section 3.04(a) of the
Pooling and Servicing Agreement, the Master Servicer shall direct the Special Servicer to make payment of amounts referenced therein
directly to the Primary Servicer rather than the Master Servicer for deposit in the Primary Servicer Collection Account.

 

(8)              
Section
3.04(b) is not incorporated herein. Only the third and fourth paragraphs of Section 3.04(b) of the Pooling and Servicing
Agreement are incorporated herein. References to the Collection Account shall be references to the Primary Servicer Collection
Account for purposes of the second paragraph of Section 3.04(b). The Primary Servicer shall establish a custodial account
(hereinafter the “Primary Servicer Companion Distribution Account”), meeting all of the requirements of the
Companion Distribution Account, and references to the Companion Distribution Account in the second paragraph of Section 3.04(b)
of the Pooling and Servicing Agreement shall be references to such Primary Servicer Companion Distribution Account. The creation
of any Primary Servicer Companion Distribution Account shall be evidenced by a certification in the form of Exhibit F
attached hereto and a copy of such certification shall be furnished to the Master Servicer on or prior to the Closing Date and
thereafter to the Master Servicer upon any transfer of the Primary Servicer Companion Distribution Account. References to the
Companion Paying Agent shall be deemed to be references to the Primary Servicer and references to the Companion Holder shall be
deemed to be references to the Companion Holder for purposes of the last two sentences of the second paragraph of Section 3.04(b)
of the Pooling and Servicing Agreement.

 

With respect to each Distribution
Date, the Primary Servicer shall deliver to the Master Servicer on or before the Primary Servicer Remittance Date the Primary Servicer
Remittance Amount for such date. Each remittance required to be made to the Master Servicer on the Primary Servicer Remittance
Date shall be made by wire transfer and shall be made by 3:00 p.m. Charlotte, North Carolina time on such date. Each month, on
the first Business Day after receipt of any Primary Servicer Remittance Amount between the Primary Servicer Remittance Date and
the Distribution Date, the Primary Servicer shall forward to the Master Servicer by wire transfer the Primary Servicer Remittance
Amount for such date. Each month, on each Business Day that the Primary Servicer is not required to remit to the Master Servicer
pursuant to the previous two sentences, the Primary Servicer shall forward the Primary Servicer Remittance Amount to the Master
Servicer by wire transfer within one Business Day following Primary Servicer’s receipt of delinquent payments on the Mortgage
Loan. Section 3.01(c)(21) of this Agreement sets forth certain reporting requirements with respect to such remittances.

 

(9)              
Sections
3.05(a) and (g)-(i) are not incorporated herein. The Primary Servicer may, from time to time, make withdrawals from the Primary
Servicer Collection Account for any of the following purposes (the order set forth below not constituting an order of priority
for such withdrawals):

 

    	 	8	 

     

    

(i)              
to
remit to the Master Servicer for deposit in the Collection Account the amounts required to be so deposited pursuant to the second
sentence of Section 3.04(b) of the Pooling and Servicing Agreement and the second paragraph of Section 3.01(c)(8) of
this Agreement and to remit to the Companion Paying Agent for deposit into the Primary Servicer Companion Distribution Account
the amounts required to be so deposited pursuant to the fourth paragraph of Section 3.04(b) of the Pooling and Servicing
Agreement and the first paragraph of Section 3.01(c)(8) of this Agreement;

 

(ii)              
to pay itself earned and unpaid Primary Servicing Fees, with respect to the Mortgage Loan, the Serviced Companion Loans
and/or any successor REO Loans in respect thereof, the Primary Servicer’s right to payment pursuant to this clause (ii)
with respect to any such Mortgage Loan, Serviced Companion Loans or REO Loans being limited to amounts on deposit in the Primary
Servicer Collection Account that are received on or in respect of on such Mortgage Loan, the Serviced Companion Loans or REO Loan,
as applicable (whether in the form of payments, Liquidation Proceeds or Insurance and Condemnation Proceeds), that are allocable
as recovery of interest thereon;

 

(iii)              
to pay itself
out of general collections on the Mortgage Loan, the Serviced Companion Loans and related REO Properties, with respect to any
Mortgage Loan, Serviced Companion Loans or REO Property any related earned Primary Servicing Fee that remained unpaid in accordance
with clause (ii) above following a Final Recovery Determination made with respect to such Mortgage Loan, Serviced Companion Loans
or REO Property and the deposit into the Collection Account of all amounts received in connection therewith;

 

(iv)              
to
pay itself, as additional servicing compensation in accordance with Section 3.11(a) of the Pooling and Servicing
Agreement, interest and investment income earned in respect of amounts held in the Primary Servicer Collection Account as
provided in Section 3.01(c)(10) of this Agreement, but only to the extent of the Net Investment Earnings, if any, with
respect to the Primary Servicer Collection Account for the period from and including the prior Primary Servicer Remittance
Date to and including such Primary Servicer Remittance Date;

 

(v)              
to remit to the Companion Paying Agent for deposit into the Primary Servicer Companion Distribution Account the amounts
required to be deposited pursuant to the fourth paragraph of Section 3.04(b) of the Pooling and Servicing Agreement and
the first paragraph of Section 3.01(c)(8) of this Agreement without duplication of amounts deposited pursuant to clause
(i) above;

 

(vi)              
to clear
and terminate the Primary Servicer Collection Account at the termination of this Agreement pursuant to Section 9.01 of
the Pooling and Servicing Agreement, as modified herein; and

 

(vii)              
to remove
any amounts deposited in the Primary Servicer

 

    	 	9	 

     

    

Collection Account in error.

 

The Primary Servicer shall
keep and maintain separate accounting records, on a loan-by-loan basis, reflecting amounts allocable to the Mortgage Loan and Serviced
Companion Loans, and on a property-by-property basis when appropriate, for the purpose of justifying any withdrawal, debit or credit
from the Primary Servicer Collection Account. Upon written request, the Primary Servicer shall provide to the Master Servicer such
records.

 

(10)              
Section 3.06 is not incorporated herein. The Primary Servicer may invest funds in the Primary Servicer Collection
Account, the Primary Servicer Companion Distribution Account and/or any Servicing Account maintained by it on the same terms as
the Master Servicer may invest funds in the Collection Account, the Primary Servicer Companion Distribution Account and/or a Servicing
Account, and subject to the same rights, restrictions and obligations regarding maturity dates, gains, losses, withdrawals, possession
and control of Permitted Investments and Permitted Investments payable on demand. Without limiting the generality of the foregoing,
any investment of funds in the Primary Servicer Collection Account, the Primary Servicer Companion Distribution Account and/or
Servicing Account shall be made in the name of the Primary Servicer on behalf of the Trustee (in its capacity as such) for the
benefit of the Certificateholders.

 

(11)              
Sections 3.07(a) and (d). References to the Collection Account shall be references to the Primary Servicer Collection
Account. All insurance policies caused to be maintained by the Primary Servicer hereunder shall also name the Master Servicer as
loss payee. Within thirty (30) days after the execution date of this agreement, the Primary Servicer shall forward to the Master
Servicer a fully completed certificate of insurance in the form of Exhibit H attached hereto. Without limiting the
generality of the obligations of the Primary Servicer hereunder, the Primary Servicer shall monitor and certify as to the status
of insurance policies relating to the Serviced Whole Loan on a quarterly basis starting for the quarter ending in December of 2019,
within 30 days of the end of such quarter as required by, and in the form of, Exhibit E attached hereto, pursuant
to Section 3.01(c)(21) of this Agreement. The Primary Servicer shall promptly notify the Master Servicer of any Mortgaged
Property that is not insured against terrorist or other similar acts. The Master Servicer or the Special Servicer shall make all
determinations with respect to terrorism insurance matters required to be made under Section 3.07 of the Pooling and Servicing
Agreement, and the Primary Servicer shall reasonably cooperate with the Master Servicer in connection therewith. If the Primary
Servicer is not the Special Servicer, after receipt of notice from the Special Servicer of any determination by the Special Servicer
that a default is an Acceptable Insurance Default, the Master Servicer shall promptly notify the Primary Servicer of such determination.

 

(12)              
Section 3.07(b). References to the Collection Account shall be references to the Primary Servicer Collection Account.

 

(13)              
Section 3.07(c). The Primary Servicer shall cause to be delivered to the Master Servicer from time to time upon the
Master Servicer’s reasonable request a certificate of insurance or other evidence of such fidelity bond and errors and omissions
insurance (or self-insurance). The Primary Servicer shall promptly notify or cause its insurer to notify the Master Servicer of
any

    	 	10	 

     

    

material change to such fidelity bond or errors
and omissions insurance (or self-insurance).

 

(14)              
Section 3.08. (A) For so long as the Primary Servicer is not the Special Servicer, notwithstanding anything herein
to the contrary, the Primary Servicer will not permit or consent to any assumption, transfer or other action contemplated by Section
3.08 of the Pooling and Servicing Agreement unless the Primary Servicer has confirmed with the Master Servicer that the Master
Servicer is either obligated to process or that the Master Servicer and the Special Servicer have mutually agreed that the Master
Servicer shall process such request pursuant to Section 3.08 and Section 3.33 of the Pooling and Servicing Agreement.
Following such confirmation, the Primary Servicer will not permit or consent to any assumption, transfer or other action contemplated
by Section 3.08 of the Pooling and Servicing Agreement without the prior written consent of the Master Servicer. With respect
to any such proposed action, the Primary Servicer shall perform and forward to the Master Servicer any analysis, recommendation
or other information required to be prepared and/or delivered by the Master Servicer under Section 3.08 and Section 3.33
of the Pooling and Servicing Agreement. The Master Servicer, not the Primary Servicer, will deal directly with the Special Servicer
in connection with obtaining any necessary approval or consent from the Special Servicer. If the Primary Servicer is to process
any such assumption, transfer or other action and the Master Servicer consents to such transaction, the Primary Servicer shall
process, document and close such transaction. The Primary Servicer shall promptly provide copies of any waivers it effects pursuant
to this Section to the Master Servicer and the Master Servicer will provide notice or copies to the 17g-5 Information Provider
and Rating Agencies to the extent required by the Pooling and Servicing Agreement.

 

(B) Notwithstanding the foregoing,
during any such time the Primary Servicer is the Special Servicer, and subject to Section 3.01(d) of this Agreement, the
Primary Servicer shall perform the obligations of the Master Servicer under such Section 3.08 and Section 3.33 of
the Pooling and Servicing Agreement (including dealing directly with, and obtaining the consent of, the Special Servicer on matters
for which the Pooling and Servicing Agreement requires the Master Servicer to deal with, or obtain the consent of, the Special
Servicer) without the approval of the Master Servicer, but subject to all requirements and restrictions set forth in Section
3.08 and Section 3.33 of the Pooling and Servicing Agreement and Section 3.01(d) of this Agreement; provided,
however, that the Primary Servicer shall copy the Master Servicer on all correspondence to the Special Servicer and the
Mortgagor regarding such matters and the Primary Servicer shall prepare any package and analysis necessary to obtain any required
Rating Agency Confirmation and shall forward such package to the Master Servicer. The Master Servicer (not the Primary Servicer)
will deal with the Rating Agencies to the extent required by Section 3.08 of the Pooling and Servicing Agreement. The Primary
Servicer shall promptly provide copies of any waivers, approvals, assumptions, transfers or other actions contemplated by Section
3.08 of the Pooling and Servicing Agreement it effects pursuant to this Section to the Master Servicer and the Master Servicer
will provide notice or copies to the 17g-5 Information Provider and Rating Agencies to the extent required by the Pooling and Servicing
Agreement.

 

(15)              
[Reserved].

 

    	 	11	 

     

    

(16)              
Section 3.09. References to the Master Servicer shall not be deemed to be references to the Primary Servicer for
purposes of Section 3.09 (other than Section 3.09(f)) of the Pooling and Servicing Agreement; provided, however,
with respect to any Serviced Whole Loan, the Primary Servicer shall promptly provide written notice to the related Companion Holder
upon the occurrence of any Serviced Whole Loan event of default. On the last Business Day of each month, the Primary Servicer shall
provide to the Master Servicer a CREFC® Delinquent Loan Status Report, provided that the information set
forth in such report shall be as of the close of business on the Business Day immediately preceding the delivery of such report.
Notwithstanding the foregoing, no CREFC® Delinquent Loan Status Report shall be required under this Section 3.01(c)(16)
in any month in which the Periodic Payments for the Mortgage Loan have been collected as of the related Determination Date.

 

(17)              
Section 3.10. The references to the Collection Account in Section 3.10 of the Pooling and Servicing Agreement
shall be references to the Primary Servicer Collection Account. No expense incurred in connection with any instrument of satisfaction
or deed of reconveyance shall be chargeable to the Primary Servicer Collection Account.

 

(18)              
Section 3.11(a). References to the Servicing Fee shall be references to the Primary Servicing Fee and references
to the Servicing Fee Rate shall be references to the Primary Servicing Fee Rate. The second paragraph of Section 3.11(a)
of the Pooling and Servicing Agreement is not incorporated herein. In addition, the Primary Servicer shall be entitled to receive,
as additional servicing compensation, to the extent the Master Servicer is entitled to such amounts under the Pooling and Servicing
Agreement, (i) all investment income earned on amounts on deposit in the Primary Servicer Collection Account, the Primary Servicer
Companion Distribution Account and certain Servicing Accounts (to the extent consistent with the related Mortgage Loan documents),
(ii) 100% of any amounts collected by the Primary Servicer for checks returned for insufficient funds, demand fees or similar items
with respect to the Mortgage Loan and the Serviced Companion Loans to the extent the Master Servicer is entitled to such items
under Section 3.11(a) of the Pooling and Servicing Agreement, (iii) 50% of that portion of any Excess Modification Fees,
review fees, consent fees, defeasance fees and similar fees to which the Master Servicer is entitled under Section 3.11(a)
of the Pooling and Servicing Agreement with respect to the Mortgage Loan and the Serviced Companion Loans whether or not performed
by the Primary Servicer, (iv) 50% of that portion of any assumption fees, waiver fees, consent fees, and assumption application
fees (or similar fees) to which the Master Servicer is entitled under Section 3.11(a) of the Pooling and Servicing Agreement
with respect to the Mortgage Loan and the Serviced Companion Loans whether or not performed by the Primary Servicer, (v) 100% of
that portion of any beneficiary statement or demand and other customary charges and amounts collected by the Primary Servicer for
checks returned for insufficient funds and reasonable review fees in connection with any Mortgagor request to the extent such review
fees are not prohibited under the related Mortgage Loan documents to which the Master Servicer is entitled under Section 3.11(a)
of the Pooling and Servicing Agreement with respect to the Mortgage Loan and the Serviced Companion Loans, (vi) 100% of Prepayment
Interest Excesses relating to the Mortgage Loans and Servicing Companion Loans to which the Master Servicer is entitled under the
Pooling and Servicing Agreement, and (vii) 100% of that portion of any Penalty Charges relating to late payment charges and 50%
of that portion of any Penalty Charges relating to Default Interest, in each case, paid in respect to any delinquent Mortgage Loan
or Serviced Companion Loans to which the Master Servicer is entitled

    	 	12	 

     

    

under Section 3.11(a) of the Pooling
and Servicing Agreement (other than as required under the Pooling and Servicing Agreement to cover payment of interest on Advances
or other reimbursement of additional trust fund expenses). The Primary Servicer shall not be entitled to any Compensating Interest
Payments or other amounts not specifically addressed above in this Section 3.01(c)(18).

 

(19)              
Section 3.12(a). The Primary Servicer shall promptly (but in no event later than three (3) Business Days after the
completion of related inspection report) forward to the Master Servicer a copy of all inspection reports prepared by or on behalf
of the Primary Servicer. The Primary Servicer may engage a third party at its cost to perform property inspections and prepare
property inspection reports without first obtaining the consent of the Master Servicer; provided, however, that the
Primary Servicer shall remain obligated and primarily liable to the Master Servicer for satisfactory completion of the inspections
and reports as required by this Agreement. If any inspection report identifies a “life safety” or other material deferred
maintenance item existing with respect to the related Mortgaged Property, the Primary Servicer (x) shall promptly send to the related
Mortgagor a letter identifying such deferred maintenance item and instructing such Mortgagor to correct such deferred maintenance
item and (y) shall follow up with such Mortgagor in writing and at such frequency as is in accordance with the Servicing Standard
to confirm that such deferred maintenance item is being corrected. The Primary Servicer shall promptly notify the Master Servicer
of any event or circumstance that gives rise to enforcement rights with respect to the manager under the related Mortgage Loan
documents and management agreement. With respect to all reports delivered to the Master Servicer under this Section 3.01(c)(19),
such reports shall be electronically delivered in a fashion reasonably agreed to by the Master Servicer and Primary Servicer.

 

(20)              
[Reserved].

 

(21)              
Sections 3.12(b), (d) and (g). The Primary Servicer shall electronically deliver to the Master Servicer in Microsoft
Excel format (i) a copy of all operating statements, rent rolls, income statements, budgets and financial statements collected
by the Primary Servicer promptly (but in no event later than thirty (30) days after the related receipt thereof) and (ii) the CREFC®
Operating Statement Analysis Report and CREFC® NOI Adjustment Worksheet with respect to the Mortgage Loan as required
by Section 3.12(b) of the Pooling and Servicing Agreement at least five (5) Business Days before the Master Servicer must
deliver or make available such items under the Pooling and Servicing Agreement. The Primary Servicer shall deliver to the Master
Servicer, no later than 5:00 p.m., New York City time on the Primary Servicer Reporting Date, by electronic transmission in the
format mutually agreed upon by the Master Servicer and the Primary Servicer, the reports, statements and files required by Section
3.12(d) of the Pooling and Servicing Agreement. The Primary Servicer, in connection with the reports that it prepares in connection
with Sections 3.13(b) and (d) of the Pooling and Servicing Agreement, will afford the Master Servicer reasonable
cooperation by providing such information as the Master Servicer may reasonably request in connection with the Master Servicer’s
responsibilities in Sections 3.13(b) and (d) of the Pooling and Servicing Agreement.

 

The penultimate sentence
in Section 3.12(d) of the Pooling and Servicing Agreement is not incorporated herein. The Primary Servicer shall deliver
to the Master Servicer, no later than 5:00

    	 	13	 

     

    

p.m. New York City time on the Primary Servicer
Reporting Date, by electronic transmission in the format reasonably acceptable to the Master Servicer and the Primary Servicer,
the CREFC® Loan Periodic Update File, providing the required information as of such Determination Date. The Primary
Servicer shall deliver to the Master Servicer by electronic transmission (in a format reasonably acceptable to the Master Servicer
and the Primary Servicer) (a) not later than 5:00 p.m. New York City time on the first Business Day following each Determination
Date, the Collection Report (the information therein to be stated as of the Determination Date) in the form of Exhibit G
and (b) within thirty (30) days after the end of each calendar quarter, beginning with the quarter ending on December 31, 2019,
the certification on the Mortgage Loan and the Serviced Companion Loans, including without limitation information regarding UCC
Financing Statements, taxes, insurance premiums and ground rents, required by and in the form of Exhibit E attached
hereto. The Primary Servicer shall deliver to the Master Servicer no later than 5:00 p.m. New York City time on the second Business
Day of each month by electronic transmission in a format reasonably acceptable to the Master Servicer and the Primary Servicer,
a remittance report containing scheduled balance information for the Mortgage Loan and the Serviced Companion Loans reflecting
the scheduled Periodic Payment for such month in the form of Exhibit G attached hereto. In addition, on each day
that the Primary Servicer forwards to the Master Servicer any funds pursuant to Section 3.01(c)(8) of this Agreement and
on each day that the Primary Servicer forwards to any Serviced Companion Noteholder any funds pursuant to Section 3.01(c)(35) of
this Agreement, the Primary Servicer shall deliver to the Master Servicer by electronic transmission in a format reasonably acceptable
to the Master Servicer and the Primary Servicer, a report of the nature of such remittance in the form of Exhibit G
attached hereto. The Primary Servicer shall also prepare and deliver to the Master Servicer not later than 5:00 p.m. New York City
time on the Primary Servicer Reporting Date, a certification in the form of Exhibit J attached hereto.

 

Section 3.12(e)
is not incorporated herein. The Primary Servicer shall not prepare and/or provide any CREFC® Schedule AL File or any Schedule
AL Additional File; provided, however, the Primary Servicer shall (i) promptly provide to the Master Servicer any documentation
relating to the Mortgage Loan in the Primary Servicer’s possession reasonably requested by the Master Servicer in connection
with the Master Servicer's preparation and compilation of any CREFC® Schedule AL File or any Schedule AL Additional File and
(ii) cooperate with the Master Servicer in connection with the Master Servicer's preparation and compilation of any CREFC®
Schedule AL File or any Schedule AL Additional File relating to the Mortgage Loan. With respect to all reports delivered to the
Master Servicer under this Section 3.01(c)(21), such reports shall be electronically delivered in a fashion reasonably agreed to
by the Master Servicer and Primary Servicer.

 

(22)              
Section 3.13. The Primary Servicer shall also be subject to Section 3.01(c)(30) of this Agreement. Notwithstanding
anything to the contrary herein, none of the restrictions in Section 3.13 of the Pooling and Servicing Agreement or Section
3.01(c)(30) of this Agreement shall prohibit or restrict oral or written communications, or providing information, between
the Primary Servicer, on the one hand, and a Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s
or NRSRO’s review of the ratings it assigns to the Primary Servicer, (ii) such Rating Agency’s or NRSRO’s approval
of the Primary Servicer as a commercial mortgage master, special or primary servicer or (iii) such Rating Agency’s or NRSRO’s
evaluation of the Primary Servicer’s servicing operations in general; provided, however, that the Primary Servicer

    	 	14	 

     

    

shall not provide any information relating
to the Certificates or the Mortgage Loan to a Rating Agency or NRSRO in connection with such review and evaluation by such Rating
Agency or NRSRO unless (x) Mortgagor, property or deal specific identifiers are redacted; (y) such information has already been
provided to the 17g-5 Information Provider and has been uploaded on to the 17g-5 Information Provider’s Website; or (z) the
Rating Agency confirms that it does not intend to use such information in undertaking credit rating surveillance with respect to
the Certificates (and the Primary Servicer shall, upon request, certify to the Depositor and the Master Servicer that it received
the confirmation described in this clause (z) or provide the Depositor and Master Servicer with a copy of such confirmation from
the applicable Rating Agency); provided, that the Rating Agencies may use information delivered under this clause (z) for any purpose
to the extent it is publicly available (unless the availability results from a breach of the Pooling and Servicing Agreement or
this Agreement) or comprised of information collected by the applicable Rating Agency from the 17g-5 Information Provider’s
Website (or another 17g-5 information provider’s website that they have access to) other than pursuant to Section 3.13(i)
of the Pooling and Servicing Agreement.

 

(23)              
Sections 3.17(a), (b) and (e). On each Primary Servicer Remittance Date, the Primary Servicer shall deposit into
(a) the Primary Servicer Collection Account as part of the Primary Servicer Remittance Amount, the amount of the Prepayment Interest
Shortfall Exposure (as defined below) without any right of reimbursement thereof, but only to the extent resulting from Principal
Prepayments on the Mortgage Loan, and (b) into the Primary Servicer Companion Distribution Account, the amount of the Prepayment
Interest Shortfall Exposure without any right of reimbursement thereof, but only to the extent resulting from Principal Prepayments
on the Serviced Companion Loans, and, in the case of either (a) or (b), to the extent that the Master Servicer is required to remit
Compensating Interest under Section 3.17(a) of the Pooling and Servicing Agreement. Notwithstanding anything to the contrary
herein if the Primary Servicer permits or accepts (unless otherwise permitted under the Mortgage Loan documents) a Prepayment or
approves or allows a modification of a Mortgage Loan to permit a Principal Prepayment of a Mortgage Loan on a date other than its
Due Date and if and to the extent the Master Servicer is required to pay any resulting Compensating Interest Payment under the
Pooling and Servicing Agreement related to the Mortgage Loan following and as a result of such action by the Primary Servicer,
the Primary Servicer shall remit to the Master Servicer, the amount as of any Distribution Date equal to the lesser of (x) the
amount of the related Prepayment Interest Shortfall incurred in connection with the Principal Prepayment received in respect of
the Mortgage Loan and any related Serviced Pari Passu Companion Loans (in each case other than any Specially Serviced Loan or any
Mortgage Loan or related Serviced Pari Passu Companion Loans on which the Special Servicer allowed a prepayment on a date other
than the applicable Due Date) and (y) (A) the Primary Servicing Fee with respect to that Mortgage Loan, the Serviced Pari Passu
Companion Loans and REO Loan for which Primary Servicing Fees are being paid for such Collection Period, calculated at a rate of
0.0025% per annum, and (B) to the extent earned on voluntary principal prepayments, net investment earnings payable to the Primary
Servicer for such Collection Period received by the Primary Servicer during such Collection Period with respect to the Mortgage
Loan or the related Serviced Pari Passu Companion Loans, as applicable, subject to such prepayment (the "Prepayment Interest
Shortfall Exposure"). In no event will the rights of the Master Servicer or the Certificateholders to the offset of the
aggregate Prepayment Interest Shortfalls be cumulative. However, if a Prepayment Interest Shortfall occurs with respect to the
Mortgage Loan

    	 	15	 

     

    

or related Serviced Pari Passu Companion Loans
as a result of the Primary Servicer' s allowing the related Mortgagor to deviate (a "Prohibited Prepayment") (other
than (V) a Non-Serviced Mortgage Loan, (W) subsequent to a default under the related Mortgage Loan documents or if the Mortgage
Loan is a Specially Serviced Loan, (X) pursuant to applicable law or a court order or otherwise in such circumstances where the
Primary Servicer is required to accept such Principal Prepayment in accordance with the Servicing Standard, (Y) at the request
or with the consent of the Special Servicer or, so long as no Control Termination Event has occurred and is continuing, and only
with respect to Mortgage Loans other than Excluded Loans, the Directing Certificateholder or (Z) in connection with the payment
of any Insurance and Condemnation Proceeds), then for purposes of calculating the Prepayment Interest Shortfall Exposure for the
related Distribution Date, the Primary Servicer shall pay, without regard to clause (y) above, the aggregate amount of Prepayment
Interest Shortfalls with respect to such Mortgage Loan or Serviced Pari Passu Companion Loans, otherwise described in clause (x)
above in connection with such Prohibited Prepayments. The Primary Servicer shall provide any reports and notices required under
Section 3.17(b) of the Pooling and Servicing Agreement to the Serviced Companion Noteholders and shall copy the Master Servicer
electronically in a manner reasonably agreed to by the Master Servicer and Primary Servicer.

 

(24)              
Section 3.18. (A) For so long as the Primary Servicer is not the Special Servicer, notwithstanding anything herein
to the contrary, the Primary Servicer will not permit or consent to any modification, extension, waiver, consent or other action
contemplated by Section 3.18 of the Pooling and Servicing Agreement unless the Primary Servicer has confirmed with the Master
Servicer that the Master Servicer is either obligated to process or has mutually agreed with the Special Servicer to process such
transaction pursuant to Section 3.18 of the Pooling and Servicing Agreement. Following such confirmation, the Primary Servicer
will not permit or consent to any modification, extension, waiver, consent or other action contemplated by Section 3.18
of the Pooling and Servicing Agreement without the prior written consent of the Master Servicer. With respect to any such proposed
action, the Primary Servicer shall perform and forward to the Master Servicer any analysis, recommendation or other information
required to be prepared and/or delivered by the Master Servicer under Section 3.18 of the Pooling and Servicing Agreement.
The Master Servicer, not the Primary Servicer, will deal directly with the Special Servicer, other parties to the Pooling and Servicing
Agreement and any Directing Certificateholder in connection with obtaining any necessary approval or consent from the respective
party; however, when processing loan-related events delegated to it through this Agreement, the Primary Servicer may consult with
the Special Servicer as needed, provided that it copies the Master Servicer on all related correspondence to the Special Servicer
and includes a representative of the Master Servicer on all related calls with the Special Servicer and otherwise keeps the Master
Servicer fully informed as to the results of such consultations. When forwarding a request for the approval of any lease or renewal
or extension thereof, the Primary Servicer shall forward to the Master Servicer the information concerning such lease required
by, and in the form of, Exhibit I attached hereto. The Primary Servicer will not permit any Principal Prepayment
or defeasance with respect to any Mortgage Loan or Serviced Companion Loan without the written consent of the Master Servicer.
The Primary Servicer shall promptly forward all requests for Principal Prepayments to the Master Servicer, along with a payoff
statement (with respect to each Principal Prepayment request) setting forth the amount of the necessary Principal Prepayment calculated
by the Primary Servicer.

 

    	 	16	 

     

    

(B)        Notwithstanding
the foregoing, during any such time the Primary Servicer is the Special Servicer, and subject to Section 3.01(d) of this
Agreement, the Primary Servicer shall perform the obligations of the Master Servicer under such Section 3.18 of the Pooling
and Servicing Agreement (including dealing directly with, and obtaining the consent of, the Special Servicer on matters for which
the Pooling and Servicing Agreement requires the Master Servicer to deal with, or obtain the consent of, the Special Servicer)
without the approval of the Master Servicer, but subject to all requirements and restrictions set forth in Section 3.18
of the Pooling and Servicing Agreement and Section 3.01(d) of this Agreement; provided, however, that the
Primary Servicer shall copy the Master Servicer on all correspondence to the Special Servicer and the Mortgagor regarding such
matters and the Primary Servicer shall prepare any package and analysis necessary to obtain any required Rating Agency Confirmation
and shall forward such package to the Master Servicer. The Master Servicer (not the Primary Servicer) will deal with the 17g-5
Information Provider and Rating Agencies to the extent required by Section 3.18 of the Pooling and Servicing Agreement.
Notwithstanding the foregoing, with respect to any modification, extension, waiver, consent or other action contemplated by Section
3.18 of the Pooling and Servicing Agreement for which the Pooling and Servicing Agreement does not require the Master Servicer
to obtain the consent or approval of the Special Servicer, the Primary Servicer shall not permit or consent to any such modification,
extension, waiver, consent or other action without the prior written consent of the Master Servicer. With respect to any such proposed
action requiring the consent of the Master Servicer, the Primary Servicer shall perform and forward to the Master Servicer any
analysis, recommendation or other information required to be prepared and/or delivered by the Master Servicer under Section
3.18 of the Pooling and Servicing Agreement and, if the Master Servicer consents to any such modification, extension, waiver,
consent or other action, the Primary Servicer shall close such transaction. The Primary Servicer will not permit any Principal
Prepayment or defeasance with respect to any Mortgage Loan or Serviced Companion Loan without the written consent of the Master
Servicer. The Primary Servicer shall promptly forward all request for Principal Prepayments to the Master Servicer, along with
a payoff statement setting forth the amount of the necessary Principal Prepayment calculated by the Primary Servicer.

 

(25)              
Section 3.19(a). The Primary Servicer shall promptly notify the Master Servicer of any event or circumstance that
the Primary Servicer deems will or would cause any Mortgage Loan or Serviced Companion Loan to become a Specially Serviced Loan.
The determination as to whether a Mortgage Loan or Serviced Companion Loan has become a Specially Serviced Loan shall be made by
the Master Servicer and the Master Servicer shall promptly notify the Primary Servicer of any such determination. Upon receipt
by the Master Servicer of notice from the Special Servicer that a Specially Serviced Loan has become a Corrected Loan, the Master
Servicer shall promptly give the Primary Servicer notice thereof and the obligation of the Primary Servicer to service and administer
such Mortgage Loan and, if applicable, the Serviced Companion Loans shall resume.

 

(26)              
Section 3.19(c) is not incorporated herein. The Primary Servicer shall continue to process payments and maintain
ongoing payment records with respect to each Mortgage Loan and Serviced Companion Loan that becomes a Specially Serviced Loan or
an REO Property and

    	 	17	 

     

    

shall timely provide the Master Servicer and
the Special Servicer with any information required by either to perform their respective duties under the Pooling and Servicing
Agreement. Pursuant to Section 3.01(c)(18) of this Agreement, the Primary Servicer shall be entitled to receive the Primary
Servicing Fee for so long as the Master Servicer receives its Servicing Fee, with respect to each Specially Serviced Loan.

 

(27)              
Section 3.20. References to the Master Servicer shall not be deemed to be references to the Primary Servicer for
purposes of Section 3.20 of the Pooling and Servicing Agreement. Each provision of Section 3.20 of the Pooling and
Servicing Agreement shall be enforceable against the Primary Servicer in accordance with the terms thereof. The Primary Servicer
may not enter into Sub-Servicing Agreements in connection with the Mortgage Loan or the Serviced Companion Loans, but the Primary
Servicer may delegate its duties to agents or Subcontractors so long as the related agreements or arrangements with such agents
or Subcontractors are consistent with the provisions of Section 3.20 of the Pooling and Servicing Agreement. The Primary
Servicer shall not take any action that the Master Servicer would be prohibited from taking under the Pooling and Servicing Agreement.
The Primary Servicer may not foreclose any Mortgage or, except as permitted by Section 3.01(c)(14) or (24) of this
Agreement, grant any modification, extension, waiver or amendment to any Mortgage Loan or Serviced Companion Loan.

 

This Agreement will be
assumed by the Trustee if the Trustee has assumed the duties of the Master Servicer or by a successor Master Servicer without cost
or obligation to the assuming party or the Trust Fund, upon the assumption by such party of the obligations of the Master Servicer
pursuant to Section 7.02 of the Pooling and Servicing Agreement. Notwithstanding the foregoing or any other contrary provision
in the Pooling and Servicing Agreement, any successor Master Servicer (including, without limitation, the Trustee) shall assume
this Agreement and (i) the Primary Servicer’s rights and obligations under this Agreement shall expressly survive a
termination of the Master Servicer’s servicing rights under the Pooling and Servicing Agreement; provided that this
Agreement has not been terminated in accordance with its provisions; (ii) any successor Master Servicer (including, without
limitation, the Trustee) shall be deemed to automatically assume and agree to the this Agreement without further action upon becoming
the successor Master Servicer and (iii) the Pooling and Servicing Agreement may not be modified in any manner which would
increase the obligations or limit the rights of the Primary Servicer hereunder and/or under this Agreement, without the prior written
consent of the Primary Servicer (which consent shall not be unreasonably withheld).

 

(28)              
[Reserved].

 

(29)              
Section 3.24. The Primary Servicer shall provide any reports and notices required under Section 3.24 of the
Pooling and Servicing Agreement to the Serviced Companion Noteholders and shall copy the Master Servicer on any such reports or
notices delivered to the Serviced Companion Noteholders. The Master Servicer, not the Primary Servicer, will deal directly with
the Serviced Companion Noteholders in connection with consulting with or obtaining any necessary approval or consent from the Serviced
Companion Noteholders; provided, however, that the Primary Servicer will reasonably cooperate with the Master Servicer in such
consultation or obtaining such consent and shall provide to the Master Servicer information in the possession

    	 	18	 

     

    

of the Primary Servicer reasonably requested
by the Master Servicer to fulfill its obligations under Sections 3.24(a) and (d) of the Pooling and Servicing Agreement.
With respect to all reports delivered to the Master Servicer under this Section 3.01(c)(29), such reports shall be electronically
delivered in a fashion reasonably agreed to by the Master Servicer and Primary Servicer.

 

(30)              
Section 3.25 is not incorporated herein. Subject to the last paragraph of this Section 3.01(c)(30), notwithstanding
any provision herein to the contrary, the Primary Servicer shall not deliver any information to the 17g-5 Information Provider
or make any request to a Rating Agency for a Rating Agency Confirmation; all such requests shall be made by, and as determined
necessary by, the Master Servicer. Subject to Section 3.01(c)(22) of this Agreement, the Primary Servicer shall not communicate
(orally or in writing) with any Rating Agency regarding any of the Mortgage Loan documents, the Serviced Companion Loan documents
or any matter related to the Mortgage Loan or the Serviced Companion Loans, the related Mortgaged Properties, the related Mortgagors
or any other matters in connection with the Certificates or pursuant to this Agreement or the Pooling and Servicing Agreement.
Subject to Section 3.01(c)(22) of this Agreement, the Primary Servicer agrees to comply (and to cause each and every subcontractor,
vendor or agent for the Primary Servicer and each of its officers, directors and employees to comply) with the provisions relating
to communications with the Rating Agencies set forth in this Section 3.01(c)(30) and the Pooling and Servicing Agreement
and shall not deliver to any Rating Agency any report, notice, statement, request for Rating Agency Confirmation or other information
the communication of which to the Rating Agencies is restricted by the Pooling and Servicing Agreement.

 

Subject to Section 3.01(c)(22)
of this Agreement, all information described in the immediately preceding paragraph will be provided by, and all such communications,
responses and requests described in the immediately preceding paragraph will be made by, the Master Servicer in accordance with
the procedures required by the Pooling and Servicing Agreement. To the extent that the Master Servicer is required to provide any
information to, or communicate with, any Rating Agency in accordance with its obligations under the Pooling and Servicing Agreement
and such information or communication is regarding the Serviced Whole Loan or the primary servicing by the Primary Servicer under
this Agreement, the Primary Servicer shall provide the information to the Master Servicer necessary for the Master Servicer to
fulfill such obligations. Notwithstanding the foregoing restrictions in this Section 3.01(c)(30), the Primary Servicer may
request that a Rating Agency provide a Rating Agency Confirmation with respect to accounts held at the Primary Servicer or an Affiliate
of the Primary Servicer which Rating Agency Confirmation is required in order for an account held at the Primary Servicer or an
Affiliate of the Primary Servicer to constitute an Eligible Account as contemplated by the definition of “Eligible Account”
in the Pooling and Servicing Agreement; provided, however, that the Primary Servicer complies with the following requirements:
(a) any such Rating Agency Confirmation request shall be in writing, with a cover letter indicating the nature of the request and
shall include all information the Primary Servicer believes is reasonably necessary for the Rating Agency to make its decision;
(b) the Primary Servicer shall provide such Rating Agency Confirmation request to the Master Servicer by email, who shall promptly
provide such Rating Agency Confirmation request to the 17g-5 Information Provider (with a copy to the Primary Servicer); (c) the
Primary Servicer may send such Rating Agency Confirmation request to the Rating Agency (with a copy to the Master Servicer) so
long as such request (i) was previously provided to the 17g-5 Information Provider or

    	 	19	 

     

    

(ii) is simultaneously provided to the 17g-5
Information Provider; (d) to the extent that the Rating Agency makes an inquiry or initiates communications with the Primary Servicer
regarding such Rating Agency Confirmation request, the Primary Servicer shall notify the Master Servicer of such inquiry or communication,
and all responses to such inquiries or communications from the Rating Agency shall be made in writing by the Primary Servicer and
shall be provided to the Master Servicer, who shall provide such response to the 17g-5 Information Provider (with a copy to the
Primary Servicer); and (e) the Primary Servicer may send such response to the Rating Agency (with a copy to the Master Servicer)
so long as such request (i) was previously provided to the 17g-5 Information Provider or (ii) is simultaneously provided to the
17g-5 Information Provider. Such Rating Agency Confirmations shall be deemed satisfied if the Primary Servicer seeking such Rating
Agency Confirmation satisfies the requirements of Section 3.25(a) of the Pooling and Servicing Agreement.

 

(31)              
Sections 3.27 and 3.28. The Primary Servicer shall perform, on behalf of the Master Servicer, all of the obligations,
as incorporated in this Agreement, of the Companion Paying Agent with respect to the Serviced Companion Loans.

 

(32)              
Sections 3.29(c), (f), (g), (h) and (i). The Primary Servicer shall provide all reasonable cooperation to enable
the Master Servicer to fulfill its obligations under Sections 3.29(c), (f), (g), (h) and (i) of the Pooling and Servicing
Agreement with respect to the Serviced Companion Loans. The Primary Servicer shall provide any reports and notices that it prepares
or are in its possession as required under Section 3.29(i) of the Pooling and Servicing Agreement to the Serviced Companion Noteholders
and shall copy the Master Servicer electronically in a manner reasonably agreed to by the Master Servicer and Primary Servicer.

 

(33)              
Section 3.32 is not incorporated herein. The Primary Servicer shall not initiate or become involved in any claim,
counterclaim or litigation that falls within the scope of Trust-Related Litigation. The Primary Servicer shall promptly, but in
any event no later than five (5) Business Days of the Primary Servicer receiving service of such Trust-Related Litigation, provide
written notice thereof to the Master Servicer. Notwithstanding the foregoing, the Primary Servicer shall retain the right to make
determinations relating to claims or counterclaims against or on behalf of the Primary Servicer subject to Section 3.31(g)
of the Pooling and Servicing Agreement and the rights of the Special Servicer set forth therein, which shall apply to the Primary
Servicer to the extent such provisions apply to the Master Servicer.

 

(34)              
Section 3.33.

 

(35)              
Section 4.01(k) is not incorporated herein. The Primary Servicer shall make withdrawals and payments from the Primary
Servicer Companion Distribution Account in the following order of priority:

 

(i)              
to
pay to the Primary Servicer, any amounts deposited by the Primary Servicer in the Primary Servicer Companion Distribution Account
not required to be deposited therein;

 

(ii)              
to pay to the Master Servicer, two (2) Business Days before

    	 	20	 

     

    

the related Serviced Whole Loan Remittance
Date, to the extent permitted under the related Intercreditor Agreement and not otherwise previously reimbursed, any amounts payable
or reimbursable to the Trustee or the Certificate Administrator or any of their directors, officers, employees and agents, as the
case may be, pursuant to Section 8.05 of the Pooling and Servicing Agreement, to the extent any such amounts relate solely
to the Serviced Whole Loan related to the Serviced Companion Loans, and such amounts are to be paid by the related Serviced Companion
Noteholder pursuant to the related Intercreditor Agreement;

 

(iii)              
to pay, on the related Serviced Whole Loan Remittance Date, all amounts remaining in the Primary Servicer Companion Distribution
Account related to the Serviced Companion Loans to the related Serviced Companion Noteholder, in accordance with the related Intercreditor
Agreement; and

 

(iv)              
to clear and terminate the Primary Servicer Companion Distribution Account at the termination of this Agreement pursuant
to Section 9.01 of the Pooling and Servicing Agreement.

 

The Primary Servicer shall keep and maintain
separate accounting records, on a loan-by-loan basis, reflecting amounts allocable to the Serviced Companion Loans, and on a property-by-property
basis when appropriate, for the purpose of justifying any withdrawal, debit or credit from the Primary Servicer Companion Distribution
Account. Upon reasonable written request, the Primary Servicer shall provide to the Master Servicer such records.

 

Any Late Collections received
by the Primary Servicer from the related Mortgagor that are allocable to a Serviced Companion Loan (or, if such Serviced Companion
Loan has been securitized, reimbursable to the Other Master Servicer or Other Trustee under the related Other PSA) shall be remitted
by the Primary Servicer to the holder thereof (or such Other Master Servicer or Other Trustee) within one (1) Business Day of receipt
of properly identified and available funds; provided, that to the extent any such amounts are received after 3:00 p.m. Eastern
time on any given Business Day, the Primary Servicer shall use commercially reasonable efforts to remit such Late Collections to
such party within one (1) Business Day of receipt of properly identified and available funds but, in any event, the Primary Servicer
shall remit such amounts within two (2) Business Days of receipt of properly identified and available funds.

 

(36)              
[Reserved.]

 

(37)              
Section 4.03 is
not incorporated herein. The Primary Servicer shall not be permitted to make P&I Advances.

 

(38)              
Sections 6.01(a) and (e). Section 6.01(a)(i) of the Pooling and Servicing Agreement shall be deemed modified
to read “The Primary Servicer is a national banking association, duly organized, validly existing and in good standing under
the laws of the United States of America, and the Primary Servicer is in compliance with the laws of each State in which any Mortgaged
Property is located to the extent necessary to perform its obligations under this Agreement.”

    	 	21	 

     

    

 

(39)              
Sections 11.01,
11.02, 11.03, 11.04, 11.05, 11.06, 11.07, 11.09, 11.10, 11.11, 11.12 and 11.15. The Primary Servicer shall cooperate fully
with the Master Servicer and deliver to the Master Servicer any and all statements, reports, certifications, records and any other
information in its possession and necessary in the reasonable good faith determination of the Master Servicer, the Certificate
Administrator, the Trustee or the Depositor of any Other Depositor or Other Trustee of any Other Securitization that includes
a Serviced Companion Loan to permit the Depositor or Other Depositor, as applicable, to comply with the provisions of Regulation
AB and the Master Servicer to comply with its obligations under Article XI of the Pooling and Servicing Agreement, together
with such disclosures relating to the Primary Servicer, or the servicing of the Mortgage Loan (and related Serviced Companion
Loans), reasonably believed by the Depositor, the related Other Depositor, the Certificate Administrator or the Master Servicer
to be necessary in order to effect such compliance. For purposes of this Section 3.01(c)(39) of this Agreement, references
to the Trustee, the Certificate Administrator, the Depositor, the Other Depositor, the Other Trustee or the Other Certificate
Administrator in Article XI of the Pooling and Servicing Agreement shall not be deemed to be references to the Master Servicer
but shall remain references to the Trustee, the Certificate Administrator, the Depositor, the Other Depositor, the Other Trustee
or the Other Certificate Administrator, as applicable; provided that the Primary Servicer shall copy the Master Servicer on any
notice, certificate or information provided to the Trustee, the Certificate Administrator, the Depositor, the Other Depositor,
the Other Trustee or the Other Certificate Administrator pursuant to this Section 3.01(c)(39) of this Agreement.

 

With respect to any period
that the Primary Servicer is a Servicing Function Participant or a servicer as contemplated by Item 1108(a)(2) of Regulation AB,
the Primary Servicer shall perform all obligations under Section 11.02 applicable to a servicer as contemplated by Item
1108(a)(2) of Regulation AB (including, without limitation, any obligation or duty the Master Servicer is required under Section
11.02 to cause (or use commercially reasonable efforts to cause) a Servicing Function Participant or such a servicer as contemplated
by Item 1108(a)(2) of Regulation AB to perform).

 

Any Additional Form 10-D
Disclosure and related Additional Disclosure Notification required to be delivered by the Primary Servicer shall be delivered to
the Master Servicer (and, if the Primary Servicer is an Additional Servicer or a Servicing Function Participant, also to the Depositor,
the Certificate Administrator, each Other Depositor and each Other Certificate Administrator (to the extent the notice and/or information
relates to a Serviced Companion Loan or a party that services, specially services or is trustee or custodian for a Serviced Companion
Loan)) within the time provided in Section 11.04 of the Pooling and Servicing Agreement. With respect to the Mortgage Loan,
the Primary Servicer shall reasonably cooperate with the Master Servicer and the Depositor pursuant to Section 11.04(d)
of the Pooling and Servicing Agreement with respect to any CREFC® Schedule AL File.

 

Any Additional Form 10-K
Disclosure and related Additional Disclosure Notification required to be delivered by the Primary Servicer shall be delivered to
the Master Servicer (and, if the Primary Servicer is an Additional Servicer or a Servicing Function Participant, also to the Depositor,
the Certificate Administrator, each Other Depositor and each Other Certificate Administrator (to the extent the notice and/or information
relates to a Serviced Companion Loan

    	 	22	 

     

    

or a party that services, specially services
or is trustee or custodian for a Serviced Companion Loan)) on or before the fifth (5th) Business Day preceding March
1st of each year, commencing February 24, 2020.

 

The Primary Servicer (without
regard to whether the Primary Servicer is a Servicing Function Participant, a Reporting Servicer or Additional Servicer) shall
provide a Performance Certification described in Section 11.06 of the Pooling and Servicing Agreement (on which the Master
Servicer and its officers, directors and Affiliates, in addition to the Certification Parties, can reasonably rely) to the Master
Servicer on or before the fifth (5th) Business Day preceding March 1st of each year, commencing February
24, 2020. If the Primary Servicer is a Servicing Function Participant, such Performance Certification shall also be provided to
each affected Certifying Person by the time required by the Pooling and Servicing Agreement, and if the Primary Servicer is not
a Servicing Function Participant, such Performance Certification shall be delivered only to the Master Servicer. In addition, the
Primary Servicer (a) shall provide such information and assistance as may be reasonably required to cooperate with the Master Servicer
in complying with Section 11.06 of the Pooling and Servicing Agreement and (b) shall cooperate with the Master Servicer’s
reasonable requests in performing its due diligence for its certification under Section 11.06 of the Pooling and Servicing
Agreement.

 

Any Form 8-K Disclosure
Information and related Additional Disclosure Notification required to be delivered by the Primary Servicer shall be delivered
to the Master Servicer, the Depositor, the Certificate Administrator, each Other Depositor and each Other Certificate Administrator
(to the extent the notice and/or information relates to a Serviced Companion Loan or a party that services, specially services
or is trustee or custodian for a Serviced Companion Loan) within the time provided in Section 11.07 of the Pooling and Servicing
Agreement.

 

The Primary Servicer (without
regard to whether the Primary Servicer is an Additional Servicer or Servicing Function Participant) shall deliver its Officer’s
Certificate required by Section 11.09 of the Pooling and Servicing Agreement to the Master Servicer on or before the fifth
(5th) Business Day preceding March 1st of each year, commencing February 24, 2020. If the Primary Servicer
is an Additional Servicer or Servicing Function Participant, the Primary Servicer shall also deliver such Officer’s Certificate
to the Certificate Administrator, the Trustee, Depositor, the 17g-5 Information Provider, each Other Depositor and each Other Certificate
Administrator (to the extent such item and/or information relates to a party that services, specially services or is trustee or
custodian for a Serviced Companion Loan) within the time provided in Section 11.09, and if the Primary Servicer is not an
Additional Servicer or Servicing Function Participant, such Officer’s Certificate shall be delivered only to the Master Servicer.

 

The Primary Servicer (without
regard to whether the Primary Servicer is a Servicing Function Participant, a Reporting Servicer or Additional Servicer) shall
deliver the items required under Sections 11.10 and 11.11 of the Pooling and Servicing Agreement regarding itself
(the “report on an assessment of compliance with Relevant Servicing Criteria” and “accountants’ report”)
to the Master Servicer on or before the fifth (5th) Business Day preceding March 1st of each year, commencing
February 24, 2020. If the Primary Servicer is a Servicing Function Participant, a Reporting Servicer or Additional Servicer, the
report on an assessment of compliance with Relevant Servicing Criteria and accountants’ report shall also be delivered to
the Certificate

    	 	23	 

     

    

Administrator, the Trustee, Depositor, the
17g-5 Information Provider, each Other Depositor and each Other Certificate Administrator (to the extent such item and/or information
relates to a party that services, specially services or is trustee or custodian for a Serviced Companion Loan) within the time
provided in Sections 11.10 and 11.11 of the Pooling and Servicing Agreement, and if the Primary Servicer is not an
Servicing Function Participant, a Reporting Servicer or Additional Servicer, the report on an assessment of compliance with Relevant
Servicing Criteria and accountants’ report shall be delivered only to the Master Servicer.

 

Section 11.12 of
the Pooling and Servicing Agreement shall be incorporated herein and apply to the Primary Servicer for so long as the Primary Servicer
is a Servicing Function Participant or an Additional Servicer to the same extent such section applies to the Master Servicer. The
Primary Servicer shall indemnify and hold harmless the Master Servicer, each Certification Party and any director, officer, representative,
agent, member, manager, employee or Affiliate of the Master Servicer or any Certification Party, from and against any expenses,
losses, claims, damages and other liabilities, including without limitation the costs of investigation, legal defense and any amounts
paid in settlement of any claim or litigation arising out of subsections (i)-(iii) in the first paragraph of Section 11.12
of the Pooling and Servicing Agreement. To the extent the Primary Servicer is an Affected Reporting Party, the Primary Servicer
shall comply with the requirements set forth in Section 11.12 and incorporated herein by reference, including, but not limited
to, obtaining the consent of the Depositor, any Other Depositor and the Master Servicer (in each case, which consent shall not
be unreasonably denied, withheld or delayed), to directly communicate with the Commission or its staff and negotiate a response
and/or resolution with the Commission or its staff and copying the Master Servicer on all material communications with the Commission
or its staff. All reasonable out-of-pocket costs and expenses incurred by the Depositor, any Other Depositor and the Master Servicer
(including reasonable legal fees and expenses of outside counsel to the Depositor, any Other Depositor and the Master Servicer)
in connection with the foregoing and any amendments to any reports filed with the Commission or its staff therewith shall be promptly
paid by the Primary Servicer upon receipt of an itemized invoice from the Depositor, any Other Depositor and/or the Master Servicer,
as applicable. Upon resolution with the Commission, the Primary Servicer shall promptly provide, to each Other Depositor the appropriate
revised reports, updated or revised information contained in any report filed by the Other Depositor under the Reporting Requirements,
or any updated or revised material communications in connection with the response and/or resolution with the Commission or its
staff, if and to the extent such reports, information and/or communications relate to information that was previously provided
to the Other Depositor and would reasonably be expected to be contained in a report filed by the Other Depositor under the Reporting
Requirements of an Other Pooling and Servicing Agreement.

 

The Primary Servicer shall
cooperate with the Master Servicer and each other party listed in Section 11.15 of the Pooling and Servicing Agreement in
accordance with Section 11.15 of the Pooling and Servicing Agreement. If a Serviced Companion Loan constitutes a Serviced
Securitized Companion Loan, the Primary Servicer shall provide to the Master Servicer all information, reports, statements and
certificates with respect to the Primary Servicer and such Serviced Companion Loan comparable to any information, reports, statements
or certificates required to be provided by the Master Servicer pursuant to Section 11.15 of the Pooling and Servicing Agreement,
even if the Primary Servicer is not otherwise required to provide such

    	 	24	 

     

    

information, reports or certificates to any
Person in order to comply with Regulation AB. Such information, reports or certificates shall be provided to the Master Servicer
no later than two (2) Business Days prior to the date on which the Master Servicer is required to deliver its comparable information,
reports, statements or certificates pursuant to Section 11.15 of the Pooling and Servicing Agreement.

 

Subject to other provisions
of this Agreement restricting the right of the Primary Servicer to retain subservicers or subcontractors, the provisions of Article
XI regarding retaining a “Sub-Servicer,” “Subcontractor,” “Additional Servicer” or “Servicing
Function Participant” shall be applicable to any sub-servicer, subcontractor or agent hired by the Primary Servicer to perform
any of its obligations hereunder and the Primary Servicer shall comply with such provisions.

 

The Primary Servicer shall
indemnify and hold harmless each Certification Party from and against any losses, damages, penalties, fines, forfeitures, reasonable
legal fees, claims, fees and expenses and related costs, judgments and other costs and expenses incurred by such Certification
Party arising out of (a) a breach of its obligations to provide any of the annual compliance statements or annual assessment of
compliance with the servicing criteria or attestation reports pursuant to this Agreement, (b) negligence, bad faith or willful
misconduct on its part in the performance of its obligations, (c) any failure by it, as a Servicer (as defined in Section 11.02(b)
of the Pooling and Servicing Agreement) to identify a Servicing Function Participant pursuant to Section 11.02(c) of the
Pooling and Servicing Agreement, or (d) delivery of any Deficient Exchange Act Deliverable.

 

If the indemnification
provided for in this Section 3.01(c)(39) is unavailable or insufficient to hold harmless any Certification Party, the Master
Servicer, the Depositor or any employee, director or officer of the Depositor, then the Primary Servicer shall contribute to the
amount paid or payable to the indemnified party as a result of the losses, claims, damages or liabilities of the indemnified party
in such proportion as is appropriate to reflect the relative fault of the indemnified party on the one hand and the Primary Servicer
on the other in connection with a breach of the Primary Servicer’s obligations pursuant to this Section 3.01(c)(39).

 

(40)              
Sections 12.01(b)(i)-(ii).
The Primary Servicer shall provide all reasonable cooperation (with respect to information regarding the Mortgage Loan in the
Primary Servicer’s possession) to enable the Master Servicer to provide the information required pursuant to Sections
12.01(b)(i)-(ii) of the Pooling and Servicing Agreement.

 

(d)              
For any such time the Primary Servicer is also the Special Servicer, Sections 3.01(c)(14)(B) and 3.01(c)(24)(B)
of this Agreement shall apply; provided that in the event that the Primary Servicer, in the good faith and reasonable judgment
of the Master Servicer, violates the Servicing Standard or otherwise commits a “Servicer Termination Event” under the
Pooling and Servicing Agreement in connection with the granting or withholding of any approval under such sections (including,
without limitation, any approvals set forth in Section 3.08 of the Pooling and Servicing Agreement, Section 3.18
of the Pooling and Servicing Agreement, Section 3.33 of the Pooling and Servicing Agreement and any approvals described
in Section 3.01(c) of this Agreement), the Primary Servicer thereafter shall no longer be permitted to exercise the foregoing
approval rights and shall thereafter be required to seek the approval of the Master Servicer, and

    	 	25	 

     

    

Sections 3.01(c)(14)(A) and 3.01(c)(24)(A)
of this Agreement shall apply. The Primary Servicer, in processing each of these transactions, shall apprise the Master Servicer
from time to time of its actions. The Primary Servicer shall provide all reasonable cooperation to the Master Servicer in connection
with the Master Servicer’s duties under the Pooling and Servicing Agreement to oversee sub-servicers. Such cooperation shall
include (without limitation) notifying the Master Servicer of any such transaction, and the Primary Servicer shall make itself
available for teleconferences from time to time upon reasonable request of the Master Servicer in connection therewith. Immediately
following the completion of each transaction, the Primary Servicer shall send the Master Servicer copies of all of the evaluation
and approval documentation created in connection with such transaction.

 

		Section	 3.02                   
Merger or Consolidation of the Primary Servicer.

 

The Primary Servicer shall
keep in full effect its existence, rights and franchises as a national banking association under the laws of the United States
of America. The Primary Servicer shall continue to be authorized to transact business in the state or states in which the Mortgaged
Properties for the Mortgage Loan and the Serviced Companion Loans are situated, if and to the extent required by applicable law,
except where the failure to so comply would not adversely affect the Primary Servicer’s ability to perform its obligations
in accordance with the terms of this Agreement.

 

Any Person into which the
Primary Servicer may be merged or consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Primary Servicer shall be a party, or any Person succeeding to all or substantially all of the business of the Primary Servicer,
shall be the successor of the Primary Servicer hereunder, without the execution or filing of any paper or any further act on the
part of any of the parties hereto, anything herein to the contrary notwithstanding; provided, however, that the successor or surviving
Person (i) must be a business entity whose business includes the servicing of mortgage loans and shall be authorized to transact
business in the state or states in which the related Mortgaged Properties it is to service are situated to the extent required
by applicable law, (ii) must be listed on S&P’s Select Servicer List as a U.S. Commercial Mortgage Servicer, and (iii)
shall have assumed in writing the obligations of the Primary Servicer under this Agreement. Notwithstanding the foregoing, the
Primary Servicer may not remain the Primary Servicer under this Agreement after (x) being merged or consolidated with or into any
Person that is a Prohibited Party, or (y) transferring all or substantially all of its assets to any Person if such Person is a
Prohibited Party, except to the extent that (i) the Primary Servicer is the surviving entity of such merger, consolidation or transfer
and has been and continues to be in compliance with its Regulation AB reporting obligations hereunder or under the Pooling and
Servicing Agreement or (ii) the Depositor consents to such merger, consolidation or transfer, which consent shall not be unreasonably
withheld.

 

		Section	 3.03                   
Limitation on Liability of the Primary Servicer and Others.

 

Neither the Primary Servicer
nor any of the partners, directors, officers, shareholders, members, managers, employees or agents of the Primary Servicer shall
be under any liability to the Master Servicer or the Serviced Companion Noteholders for any action taken, or for refraining from
the taking of any action, in good faith pursuant to this Agreement, or for errors in judgment;

    	 	26	 

     

    

provided, however, that this provision shall
not protect the Primary Servicer or any such person against any breach of representations or warranties made herein, or against
any liability which would otherwise be imposed by reason of willful misconduct, bad faith, fraud or negligence (or by reason of
any specific liability imposed hereunder for a breach of the Servicing Standard) in the performance of its obligations or duties
hereunder, or by reason of negligent disregard of such obligations and duties. The Primary Servicer and any officer, employee or
agent of the Primary Servicer may rely in good faith on any document of any kind which, prima facie, is properly executed
and submitted by any Person respecting any matters arising hereunder. The Primary Servicer shall not be under any obligation to
appear in, prosecute or defend any legal action unless such action relates to its respective duties under this Agreement and which
in its opinion does not expose it to any expense or liability not recoverable from the Trust Fund; provided, however,
the Primary Servicer may, with the consent of the Master Servicer, undertake any such action, proceeding, hearing or examination
that it may deem necessary or desirable in respect to this Agreement and the rights and duties of the parties hereto. In such event,
to the extent that the legal expenses and costs of such action, proceeding, hearing or examination and any liability resulting
therefrom are reimbursable, and are reimbursed to the Master Servicer, by the Trust Fund pursuant to the Pooling and Servicing
Agreement, the Primary Servicer shall be entitled to be reimbursed therefor from the Master Servicer upon written demand. To the
extent provided in Section 6.04 of the Pooling and Servicing Agreement, the Primary Servicer, and any partner, director,
officer, shareholder, member, manager, employee or agent of the Primary Servicer, shall be indemnified and held harmless by the
Trust Fund against any claims, losses, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any
other costs, liabilities, fees and expenses (including, without limitation, costs and expenses of litigation and of enforcement
of this indemnity, and of investigation, counsel fees, damages, judgments and amounts paid in settlement) relating to this Agreement
or the Certificates, other than any loss, liability or expense (including legal fees and expenses) (i) specifically required to
be borne by the Primary Servicer pursuant to the terms hereof; (ii) incurred in connection with any breach of a representation
or warranty made by the Primary Servicer herein; or (iii) incurred by the Primary Servicer by reason of willful misconduct, bad
faith, fraud or negligence in the performance of duties hereunder or by reason of negligent disregard of obligations and duties
hereunder. The Primary Servicer shall not have any rights of indemnification out of the Trust Fund except through the Master Servicer
as described above and, in each case, to the full extent that the Master Servicer is permitted to indemnification from the Trust
Fund under the Pooling and Servicing Agreement. The Primary Servicer shall cooperate with the Master Servicer and the Master Servicer
shall make reasonable efforts to obtain such recovery from the Trust pursuant to the Pooling and Servicing Agreement.

 

		Section	 3.04                   
Primary Servicer Not to Resign.

 

The Primary Servicer shall
not resign from the obligations and duties hereby imposed on it except by sixty (60) days prior written notice to the Master Servicer,
or upon the determination that its duties hereunder are no longer permissible under applicable law and such incapacity cannot be
cured by the Primary Servicer. Any such determination permitting the resignation of the Primary Servicer shall be evidenced by
an Opinion of Counsel to such effect delivered to the Master Servicer, which Opinion of Counsel shall be in form and substance
acceptable to the Master Servicer. In addition, the Primary Servicer shall have the right to resign or assign its servicing rights
at any other time without consent by the Master Servicer; provided that (i) a willing

    	 	27	 

     

    

successor thereto (including any such successor
proposed by the Primary Servicer) reasonably acceptable to the Master Servicer and meeting any requirements set forth in the Pooling
and Servicing Agreement has been identified, (ii) the Primary Servicer pays all costs and expenses in connection with such transfer,
and (iii) the successor accepts appointment prior to the effectiveness of such resignation or assignment.

 

		Section	 3.05                   
No Transfer or Assignment of Servicing.

 

With respect to the responsibility
of the Primary Servicer to service the Mortgage Loan and Serviced Companion Loans hereunder, the Primary Servicer acknowledges
that the Master Servicer has acted in reliance upon the Primary Servicer’s independent status, the adequacy of its servicing
facilities, plant, personnel, records and procedures, its integrity, reputation and financial standing and the continuance thereof.
Without in any way limiting the generality of this Section 3.05, the Primary Servicer shall not either assign or transfer
this Agreement or the servicing hereunder nor delegate its rights or duties hereunder or any portion thereof (except as allowed
by Section 3.01(c)(27) of this Agreement), or sell or otherwise dispose of all or substantially all of its property or assets,
without the prior written approval of the Master Servicer, which consent will not be unreasonably withheld or delayed. Notwithstanding
the foregoing, prior to any assignment or transfer by the Primary Servicer of this Agreement or the servicing hereunder (the “Primary
Servicing Rights”), the Primary Servicer shall allow the Master Servicer an opportunity to bid on the purchase of such
Primary Servicing Rights. The Primary Servicer may also solicit bids from any other parties independent of the Primary Servicer.
If the Master Servicer offers the highest purchase price for such Primary Servicing Rights, then the Master Servicer shall be provided
the opportunity to purchase such Primary Servicing Rights for such purchase price.

 

		Section	 3.06                   
Indemnification.

 

The Master Servicer and
the Primary Servicer each agrees to and hereby does indemnify and hold harmless the Master Servicer, in the case of the Primary
Servicer, and the Primary Servicer, in the case of the Master Servicer (including any of their partners, directors, officers, shareholders,
members, managers, employees or agents) from and against any and all claims, losses, penalties, fines, forfeitures, reasonable
legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses (including, without limitation, costs
and expenses of litigation and of enforcement of this indemnity, and of investigation, counsel fees, damages, judgments and amounts
paid in settlement) that the Master Servicer, in the case of the Primary Servicer, and the Primary Servicer, in the case of the
Master Servicer, may sustain arising from or as a result of any willful misconduct, bad faith or negligence of the Master Servicer
or Primary Servicer, as applicable, in the performance of its obligations and duties under this Agreement or by reason of negligent
disregard by the Master Servicer or Primary Servicer, as applicable, of its duties and obligations hereunder or by reason of breach
of any representations or warranties made herein by the Master Servicer or Primary Servicer, as applicable, or in the case of the
Master Servicer, made in the Pooling and Servicing Agreement; provided, that such indemnity shall not cover indirect or consequential
damages. Each indemnified party hereunder shall give prompt written notice to the indemnitor of matters which may give rise to
liability of such indemnitor hereunder; provided, however, that failure to give such notice shall not relieve the
indemnitor of any liability except to the extent of actual prejudice. Section 3.06 of this Agreement shall survive

    	 	28	 

     

    

the termination of this Agreement and the termination
or resignation of the Master Servicer or the Primary Servicer.

 

ARTICLE IV

DEFAULT

 

		Section	 4.01                   
Events of Default.

 

In case one or more of
the following events (each, an “Primary Servicer Termination Event”) by the Primary Servicer shall occur and
be continuing, that is to say:

 

(a)                 
any failure by the Primary Servicer to deposit into the Primary Servicer Collection Account, the Primary Servicer Companion
Distribution Account or any Servicing Account, or to deposit into, or to remit to the Master Servicer for deposit into, the Collection
Account, or remit to the Serviced Companion Loan Noteholders, on the dates and at the times required by this Agreement, any amount
required to be so deposited or remitted under this Agreement; provided, however, that the Primary Servicer will have one (1) Business
Day to remedy a failure to make such a deposit or remittance on the date and at the time required by this Agreement; or

 

(b)                 
any failure on the part of the Primary Servicer to (a) timely provide to the Master Servicer the certification called for
on Exhibit E attached hereto as required by this Agreement (which failure continues unremedied for ten (10) Business
Days after notice (which may be given via facsimile or e-mail) of such failure shall have been given by the Master Servicer to
the Primary Servicer), or (b) timely provide to the Master Servicer the Collection Report in compliance with the Servicing Standard
and complete in all material respects which failure continues unremedied for one (1) Business Day after notice (which may be given
via facsimile or e-mail) of such failure shall have been given by the Master Servicer to the Primary Servicer or, if earlier and
if such failure is a total failure to deliver such report, one (1) Business Day after knowledge by the Primary Servicer of such
failure); or

 

(c)                 
any failure by the Primary Servicer duly to observe or perform in any material respect any of its other covenants or obligations
under this Agreement (other than those addressed in another clause of this Section 4.01), which failure continues unremedied for
a period of twenty-five (25) days (or (i) with respect to any year that a report on Form 10-K is required to be filed, three (3)
Business Days in the case of the Primary Servicer’s obligations contemplated by Article XI of the Pooling and Servicing Agreement
(as incorporated or restated in this Agreement) or (ii) 10 days in the case of failure to pay the premium for any insurance policy
required to be force placed by the Primary Servicer pursuant to this Agreement or in any event such reasonable shorter period of
time as is necessary to avoid the commencement of foreclosure proceedings for any lien relating to unpaid real estate taxes or
assessments or a lapse in any required insurance coverage) after written notice of such failure, requiring the same to be remedied,
has been given to the Primary Servicer by the Master Servicer; provided, however, if that failure (other than a failure that results
in the commencement of foreclosure proceedings for any lien relating to unpaid real estate taxes or assessments or a lapse in any
required insurance coverage) is capable of being cured and the Primary Servicer has provided the Master Servicer with an Officer’s
Certificate certifying

    	 	29	 

     

    

that it has diligently pursued, and is continuing
to diligently pursue, a full cure, such twenty-five (25) day period shall be extended for an additional thirty (30) days; or

 

(d)              
any breach on the part of the Primary Servicer of any representation or warranty contained in Section 6.01(a) of
the Pooling and Servicing Agreement as incorporated herein, which materially and adversely affects the interests of the Master
Servicer or any Class of Certificateholders or any Serviced Companion Noteholder and which continues unremedied for a period of
thirty (30) days after the date on which notice of such breach, requiring the same to be remedied, shall have been given to the
Primary Servicer by the Master Servicer; provided, however, if that breach is capable of being cured and the Primary Servicer has
provided the Master Servicer with an Officer’s Certificate certifying that it has diligently pursued, and is continuing to
diligently pursue, a full cure, such thirty (30) day period shall be extended for an additional thirty (30) days; or

 

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

 

(f)               
the Primary Servicer shall consent to the appointment of a conservator, receiver, liquidator, trustee or similar official
in any bankruptcy, insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating
to the Primary Servicer or of or relating to all or substantially all of its property; or

 

(g)              
the Primary Servicer shall admit in writing its inability to pay its debts generally as they become due, file a petition
to take advantage of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its
creditors, voluntarily suspend payment of its obligations or take any corporate action in furtherance of the foregoing; or

 

(h)              
the Primary Servicer shall assign or transfer or attempt to assign or transfer all or part of its rights and obligations
hereunder except as permitted by this Agreement; or

 

(i)              
either of Moody’s or KBRA (or, in the case of Serviced Pari Passu Companion Loan Securities, any Companion Loan Rating
Agency) has (A) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates or Serviced Pari
Passu Companion Loan Securities, as applicable, or (B) placed one or more Classes of Certificates or Serviced Pari Passu Companion
Loan Securities, as applicable, on “watch status” in contemplation of possible rating downgrade or withdrawal (and
such qualification, downgrade, withdrawal or “watch status” placement shall not have been withdrawn by Moody’s
or KBRA, as applicable (or, in the case of Serviced Pari Passu Companion Loan Securities, any Companion Loan Rating Agency) within
60 days of such event) and, in the case of either of clause (A) or (B), publicly citing servicing concerns with the Primary Servicer
as the sole or a material factor in such rating action; or

    	 	30	 

     

    

 

(j)                
the Primary Servicer is no longer rated at least “CPS3” by Fitch and the Primary Servicer is not reinstated
to at least that rating within sixty (60) days of the delisting; or

 

(k)              
(1) the Primary Servicer fails to deliver by the due date any Exchange Act reporting items required to be delivered
to the Master Servicer, the Certificate Administrator or the Depositor under Article XI of the Pooling and Servicing Agreement
or under this Agreement or to the master servicer under any other pooling and servicing agreement that the Depositor is a party
to, or (2) the Primary Servicer fails to perform in any material respect any of its covenants or obligations contained in
this Agreement regarding creating, obtaining or delivering any Exchange Act reporting items required under this Agreement or for
any party to the Pooling and Servicing Agreement to perform its obligations under Article XI or under the Exchange Act reporting
items required under any other pooling and servicing agreement that the Depositor is a party to.

 

If any Primary
Servicer Termination Event shall occur and be continuing, then, and in each and every such case, so long as such Primary Servicer
Termination Event shall not have been remedied, the Master Servicer may terminate, by notice in writing to the Primary Servicer,
all of the rights and obligations of the Primary Servicer as Primary Servicer under this Agreement and in and to the Mortgage Loan
and the Serviced Companion Loans and the proceeds thereof. From and after the receipt by the Primary Servicer of such written notice,
all authority and power of the Primary Servicer under this Agreement, whether with respect to the Mortgage Loan, the Serviced Companion
Loans or otherwise, shall pass to and be vested in the Master Servicer pursuant to and under Section 4.01 of this Agreement,
and, without limitation, the Master Servicer is hereby authorized and empowered to execute and deliver, on behalf of and at the
expense of the Primary Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish
all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the
transfer and endorsement or assignment of the Mortgage Loan, the Serviced Companion Loans and related documents, or otherwise.
The Primary Servicer hereby acknowledges that the Serviced Companion Noteholders shall be entitled to direct the Master Servicer
to replace the Primary Servicer with a successor sub-servicer for the Serviced Whole Loan pursuant to Section 7.01(f) of
the Pooling and Servicing Agreement (the “Successor Sub-Servicer”) following a Primary Servicer Termination
Event with respect to such Serviced Whole Loan. The Primary Servicer agrees that if it is terminated pursuant to Section 4.01
of this Agreement, it shall promptly (and in any event no later than five (5) Business Days subsequent to its receipt of the notice
of termination) provide the Master Servicer or the Successor Sub-Servicer, if applicable, with all documents and records (including,
without limitation, those in electronic form) requested by it to enable it to assume the Primary Servicer’s functions hereunder,
and shall cooperate with the Master Servicer or the Successor Sub-Servicer, if applicable, in effecting the termination of the
Primary Servicer’s responsibilities and rights hereunder and the assumption by a successor of the Primary Servicer’s
obligations hereunder, including, without limitation, the transfer within one (1) Business Day to the Master Servicer or the Successor
Sub-Servicer, if applicable, for administration by it of all cash amounts which shall at the time be or should have been credited
by the Primary Servicer to the Primary Servicer Collection Account, the Collection Account, the Primary Servicer Companion Distribution
Account, any Servicing Account, or any REO Account, or thereafter be received with respect to the Mortgage Loan, the Serviced

    	 	31	 

     

    

Companion Loans or any REO Property
(provided, however, that the Primary Servicer shall continue to be entitled to receive all amounts accrued or owing to it under
this Agreement on or prior to the date of such termination, and it and its directors, officers, employees and agents shall continue
to be entitled to the benefits of Section 3.03 of this Agreement notwithstanding any such termination).

 

In addition
to any other rights the Master Servicer may have hereunder, if the Primary Servicer fails to remit to the Master Servicer any amounts
when required to be remitted hereunder, the Primary Servicer shall pay to the Master Servicer interest on the amount of such late
remittance at the Prime Rate, applied on a per diem basis for each day such remittance is late (i.e., said per annum rate divided
by 365 multiplied by the number of days late); but in no event shall such interest be greater than the maximum amount permitted
by law.

 

		Section	 4.02                   
Waiver of Defaults.

 

The Master Servicer
may waive any default by the Primary Servicer in the performance of its obligations hereunder and its consequences. Upon any such
waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination Event arising therefrom shall
be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default
or impair any right consequent thereon except to the extent expressly so waived.

 

		Section 	4.03                   
Other Remedies of Master Servicer.

 

During the continuance
of any Primary Servicer Termination Event, so long as such Primary Servicer Termination Event shall not have been remedied, the
Master Servicer, in addition to the rights specified in Section 4.01 of this Agreement, shall have the right, in its own
name, to take all actions now or hereafter existing at law, in equity or by statute to enforce its rights and remedies (including
the institution and prosecution of all judicial, administrative and other proceedings and the filing of proofs of claim and debt
in connection therewith). Except as otherwise expressly provided in this Agreement, no remedy provided for by this Agreement shall
be exclusive of any other remedy, and each and every remedy shall be cumulative and in addition to any other remedy and no delay
or omission to exercise any right or remedy shall impair any such right or remedy or shall be deemed to be a waiver of any Primary
Servicer Termination Event.

 

ARTICLE V

TERMINATION

 

		Section	 5.01                   
Termination.

 

Except as otherwise
specifically set forth herein, the rights, obligations and responsibilities of the Primary Servicer shall terminate (without payment
of any penalty or termination fee): (i) upon the later of the final payment or other liquidation (or any advance with respect thereto)
of the last Mortgage Loan or Serviced Whole Loan and the disposition of all REO Property and the

    	 	32	 

     

    

remittance of all funds due hereunder;
(ii) by mutual consent of the Primary Servicer and the Master Servicer in writing; (iii) pursuant to Section 5.02 of this
Agreement; (iv) at the option of any purchaser of one or more Mortgage Loan pursuant to the Pooling and Servicing Agreement, upon
such purchase and only with respect to such purchased Mortgage Loan or Serviced Companion Loan, subject to the Primary Servicer’s
rights to retain any accrued and unpaid fees and expenses; (v) solely with respect to any Servicing Shift Whole Loan, on the related
Servicing Shift Date; or (vi) upon termination of the Pooling and Servicing Agreement.

 

		Section	 5.02                   
Termination With Cause.

 

The Master Servicer
may, at its sole option, terminate any rights the Primary Servicer may have hereunder with respect to any or all of the Mortgage
Loan or the Serviced Companion Loans, as provided in Section 4.01 of this Agreement upon the occurrence of an Primary Servicer
Termination Event. For the avoidance of doubt, the Primary Servicer will no longer perform the obligations of the Master Servicer
as the Companion Paying Agent if terminated as the Primary Servicer with respect to the Serviced Whole Loan.

 

Any notice of
termination shall be in writing and delivered to the Primary Servicer as provided in Section 6.05 of this Agreement.

 

Section 5.03                   
Termination of Duties with Respect to Specially Serviced Loans.

 

At such time
as any Mortgage Loan or Serviced Companion Loan becomes a Specially Serviced Loan, the obligations and duties of the Primary Servicer
set forth herein with respect to such Specially Serviced Loan that are required to be performed by the Special Servicer under the
Pooling and Servicing Agreement shall cease in accordance with Section 3.01(c) of this Agreement. The Primary Servicer shall
continue to perform all of its duties hereunder with respect to the Specially Serviced Loans to the extent set forth in Section
3.01 of this Agreement. If a Specially Serviced Loan becomes a Corrected Loan, the Primary Servicer shall commence servicing
such Corrected Loan pursuant to the terms of this Agreement.

 

ARTICLE VI

 

MISCELLANEOUS

 

		Section	 6.01                   
Successor to the Primary Servicer.

 

Contemporaneously with
the termination of the Primary Servicer’s responsibilities and duties under this Agreement pursuant to Section 3.04,
4.01, 5.01 or 5.02 of this Agreement, the Master Servicer shall (i) succeed to and assume all of the Primary
Servicer’s responsibilities, rights, duties and obligations under this Agreement, or (ii) appoint a successor which satisfies
the criteria for a successor Primary Servicer in Section 3.02 of this Agreement and which shall succeed to all rights and
assume all of the responsibilities, duties and liabilities of the Primary Servicer under this Agreement accruing following the
termination of the Primary Servicer’s responsibilities, duties and liabilities under this Agreement.

 

    	 	33	 

     

    

		Section	 6.02                   
Financial Statements.

 

The Primary Servicer shall,
upon the request of the Master Servicer, make available its publicly available financial statements. The Primary Servicer agrees
that, on reasonable prior written notice, it will permit a representative of the Master Servicer, during the Primary Servicer’s
normal business hours, reasonable access to examine all books of account, records, reports and other documents of the Primary Servicer
relating to the Serviced Whole Loan and to make copies and extracts therefrom.

 

		Section	 6.03                   
Closing.

 

The closing for the commencement
of the Primary Servicer to perform the servicing responsibilities under this Agreement with respect to the Mortgage Loan and the
Serviced Companion Loans shall take place on the Closing Date. At the Master Servicer’s option, the closing shall be either
by telephone, confirmed by letter or wire as the parties shall agree, or conducted in person, at such place as the parties shall
agree.

 

The closing shall be subject to the execution
and delivery of the Pooling and Servicing Agreement by the parties thereto.

 

		Section	 6.04                   
Closing Documents.

 

The Closing Documents shall consist of all of the
following documents:

 

(a)       to be
provided by the Primary Servicer:

 

(1)                  
this Agreement executed by the Primary Servicer;

 

(2)                  
an Officer’s Certificate of the Primary Servicer, dated the Closing Date and in the form of Exhibit B
hereto, including all attachments thereto;

 

(3)                  
Reserved; and

 

(4)                  
the account certifications in the form of Exhibit F hereto required by Sections 3.01(c)(4), (7) and
(8) of this Agreement, fully completed; and

 

(b)       to be provided
by the Master Servicer:

 

(1)                  
this Agreement executed by the Master Servicer; and

 

(2)                  
the Mortgage Loan Schedule, with one copy to be attached to each counterpart of this Agreement as Exhibit
A hereto; and

 

(3)                  
the Pooling and Servicing Agreement substantially in the form of Exhibit C hereto.

    	 	34	 

     

    

 

		Section	 6.05                   
Notices.

 

Except as provided herein,
all demands, notices, consents and communications hereunder shall be in writing and shall be deemed to have been duly given when
delivered to the following addresses:

 

(i)       if to the
Master Servicer:

 

Wells Fargo Bank, National Association Commercial Mortgage
Servicing

MAC D1086

550 South Tryon Street, 14th Floor Charlotte,
North Carolina 28202

Reference: BBCMS 2019-C4 Asset Manager

 

with a copy to:

 

Wells Fargo Bank, National Association

Legal Department

301 South College St.

D1053-300

Charlotte, North Carolina 28202

Reference: Commercial Mortgage Servicing Legal Support

 

With a copy to:

 

K&L Gates LLP

Hearst Tower, 47th Floor

214 North Tryon Street

Charlotte, North Carolina 28202

Attention: Stacy G. Ackermann

 

(ii)       if to the
Primary Servicer:

 

Midland Loan Services, a Division of PNC Bank, National
Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President - Division Head

 

with a copy to:

 

Stinson LLP

1201 Walnut Street

Suite 2900

Kansas City, Missouri 64106-2150

    	 	35	 

     

    

Fax Number: (816) 412-9338

Attention: Kenda K. Tomes

 

or such other address as may hereafter be furnished to
the other party by like notice.

 

		Section	 6.06                   
Severability Clause.

 

To the extent this Agreement
delegates duties of the Master Servicer to the Primary Servicer, this Agreement shall be subject to the provisions of the Pooling
and Servicing Agreement, which provisions shall be paramount and controlling and shall supersede the provisions of this Agreement
to the extent of any conflicts. Any part, provision, representation or warranty of this Agreement which is prohibited or which
is held to be void or unenforceable shall 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 as to any Mortgage Loan or Serviced
Companion Loan shall not invalidate or render unenforceable such provision in any other jurisdiction. To the extent permitted by
applicable law, the parties hereto waive any provision of law which prohibits or renders void or unenforceable any provision hereof.
If the invalidity of any part, provision, representation or warranty of this Agreement shall deprive any party of the economic
benefit intended to be conferred by this Agreement, the parties shall negotiate, in good faith, to develop a structure the economic
effect of which is nearly as possible the same as the economic effect of this Agreement without regard to such invalidity.

 

		Section	 6.07                   
Counterparts.

 

This Agreement may be executed
simultaneously in any number of counterparts. Each counterpart shall be deemed to be an original, and all such counterparts shall
constitute one and the same instrument.

 

		Section	 6.08                   
Governing Law.

 

This Agreement
and any claim, controversy or dispute arising under or related to or in connection with this Agreement, the relationship of the
parties, and/or the interpretation and enforcement of the rights and duties of the parties shall be governed by the laws of the
State of New York without regard to any conflicts of law principles other than Section 5-1401 of the New York General Obligations
Law.

 

		Section	 6.09                   
Protection of Privileged Information.

 

The Primary
Servicer shall keep confidential and shall not divulge to any party other than the Master Servicer, the Depositor, the Special
Servicer or the Trustee, without the Master Servicer’s prior written consent, any information pertaining to the Mortgage
Loan, the Serviced Companion Loans or any borrower thereunder, except to the extent that (a) it is appropriate for the Primary
Servicer to do so in working with third party vendors, property inspectors, legal counsel, auditors, taxing authorities or other
governmental agencies or in accordance with this Agreement or (b) the Primary Servicer is disseminating general statistical information
relating to the mortgage loans being serviced by the Primary Servicer (including the Mortgage Loan and the

    	 	36	 

     

    

Serviced Companion Loans) so long
as the Primary Servicer does not identify the owner of the Mortgage Loan, the Serviced Companion Loans or the Mortgagors.

 

		Section	 6.10                   
Intention of the Parties.

 

It is the intention
of the parties that the Master Servicer is conveying, and the Primary Servicer is receiving, only a contract for servicing the
Mortgage Loan and the Serviced Companion Loans. Accordingly, the parties hereby acknowledge that the Trustee remains the sole and
absolute beneficial owner of the Mortgage Loan and all rights related thereto and that the Serviced Companion Noteholders remain
the sole and absolute beneficial owner of their respective Serviced Companion Loan and all rights related thereto.

 

		Section	 6.11                   
Third Party Beneficiary.

 

The Trustee,
for the benefit of the Certificateholders and the related Serviced Companion Noteholder, and the Trustee, as holder of the Lower-Tier
Regular Interests, shall be a third party beneficiary under this Agreement, provided that, except to the extent the Trustee or
its designee assumes the obligations of the Master Servicer hereunder as contemplated by Section 6.12 of this Agreement,
none of the Depositor, the Certificate Administrator, the Trustee, the Operating Advisor, the Trust, the Special Servicer, or any
Certificateholder shall have any duties, liabilities or obligations under this Agreement.

 

		Section	 6.12                   
Successors and Assigns; Assignment of Agreement.

 

This Agreement
shall bind and inure to the benefit of and be enforceable by the Primary Servicer and the Master Servicer and the respective successors
and assigns of the Primary Servicer and the Master Servicer. This Agreement shall not be assigned, pledged or hypothecated by the
Primary Servicer to a third party except as otherwise specifically provided for herein. This Agreement may be assumed by the Trustee
if the Trustee has assumed the duties of the Master Servicer or any successor Master Servicer, without cost or obligation to the
assuming party or the Trust Fund, upon the assumption by such party of the obligations, except to the extent they arose prior to
the date of assumption, of the Master Servicer pursuant to Section 7.02 of the Pooling and Servicing Agreement (it being
understood that any such obligations shall be the obligations of the terminated Master Servicer only).

 

		Section	 6.13                   
Waivers.

 

No term or provision
of this Agreement may be waived or modified unless such waiver or modification is in writing and signed by the party against whom
such waiver or modification is sought to be enforced.

 

		Section	 6.14                   
Exhibits.

 

The exhibits to this Agreement are
hereby incorporated and made a part hereof and are an integral part of this Agreement.

 

    	 	37	 

     

    

		Section	 6.15                   
General Interpretive Principles.

 

The article and section headings
are for convenience of a reference only, and shall not limit or otherwise affect the meaning hereof.

 

		Section	 6.16                   
Complete Agreement.

 

This Agreement
embodies the complete agreement between the parties regarding the subject matter hereof and may not be varied or terminated except
by a written agreement conforming to the provisions of Section 6.18 of this Agreement. All prior negotiations or representations
of the parties are merged into this Agreement and shall have no force or effect unless expressly stated herein.

 

		Section	 6.17                   
Further Agreement.

 

The Primary
Servicer and the Master Servicer each agree to execute and deliver to the other such reasonable and appropriate additional documents,
instruments or agreements as may be necessary or appropriate to effectuate the purposes of this Agreement.

 

		Section 	6.18                   
Amendments.

 

This Agreement
may only be amended with the consent of the Primary Servicer and the Master Servicer. No amendment to the Pooling and Servicing
Agreement that purports to change the rights or obligations of the Primary Servicer hereunder or under the Pooling and Servicing
Agreement shall be effective against the Primary Servicer without the express written consent of the Primary Servicer.

 

		Section 	6.19                   
No Partnership.

 

Nothing herein contained
shall be deemed or construed to create a partnership or joint venture between the parties hereto, and the services of the Primary
Servicer shall be rendered as an independent contractor for the Master Servicer.

 

[Remainder of Page Intentionally Left Blank]

 

 

    	 	38	 

     

    

IN WITNESS WHEREOF, the
Primary Servicer and the Master Servicer have caused their names to be signed hereto by their respective officers thereunto duly
authorized as of the date first above written.

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION
	 	 
	 	By: 	/s/ MaryKate Walker
	 	 	Name: MaryKate Walker

Title: Vice President

 

 

 

 

 

BBCMS 2019-C4

Midland Primary Servicing Agreement

    	 	 	 

     

    

 

 

	 	MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL
ASSOCIATION
	 	 
	 	By: 	/s/ David A. Eckels
	 	 	Name: David A. Eckels

Title:  Senior Vice President

 

 

 

 

 

BBCMS 2019-C4

Midland Primary Servicing Agreement

    	 	 	 

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE1

 

MORTGAGE LOAN

 

	Loan No. / Property No.	Property Name	Cut-off Date Balance ($)	Primary Servicing Fee
	7	Hilton Garden Inn - San Diego Mission Valley Stadium	 23,100,000	0.00125%
	12	Meidinger Tower	 19,000,000	0.00125%
	18	Maui Portfolio	 16,000,000	0.00125%
	23	Indiana Hotel Portfolio	 13,800,000	0.00125%
	36	Ambler Yards	 10,000,000	0.00125%
	44	At Home Store - Palm Beach Gardens	 8,482,647	0.00125%
	50	Fairway Plaza & Markets at Maizeland	 6,194,447	0.00125%
	52	Greenwich Inn - San Francisco	 5,994,279	0.00125%
	55	Summerville Plaza	 5,500,000	0.00125%
	56	Krea Portfolio	 5,285,473	0.00125%
	67	Baymont Inn & Suites - Mackinaw City	 3,250,000	0.00125%
	69	Brunswick West Shopping Center	 2,747,146	0.00125%

 

 

COMPANION LOANS

 

	Loan Name	Cut-off Date Balance ($)	Primary Servicing Fee
	Meidinger Tower	 9,000,000	0.00125%
	Maui Portfolio	 12,500,000	0.00125%
	Ambler Yards	 13,300,000	0.00125%

 

 

 

 

1
Cut-off Date Balances have been rounded to the nearest dollar for the purposes of this Exhibit A.

 

    	 	A-1	 

     

    

EXHIBIT B

PRIMARY SERVICER’S OFFICER’S CERTIFICATE

The undersigned, David A. Eckels, Senior
Vice President of PNC Bank, National Association, a national banking association (“PNC Bank”), on behalf of PNC Bank,
hereby certifies in such capacity that:

1.       Each
of the persons (the “Designated Officers”) listed on Schedule A attached hereto is now a duly appointed, qualified
and acting officer of PNC Bank, who holds the office set forth opposite his or her name thereon, and an exact copy of such person’s
genuine signature also appears opposite his or her name and title thereon.

2.       Attached
hereto as Schedule B is a true, complete and correct copy of the By-laws of PNC Bank, and all amendments thereto as in full
force and effect on the date hereof.

3.       Attached
hereto as Schedule C is a true, complete and correct copy of a Certificate of Corporate Existence of PNC Bank issued by
the Comptroller of the Currency. To my knowledge and without further inquiry, no event has occurred since the date of such certificate
which has affected the good standing of PNC Bank under the laws of the United States of America.

4.       Attached
hereto as Schedule D is a true, complete and correct copy of the Articles of Association of PNC Bank, and all amendments
thereto as in full force and effect as of the date hereof.

5.       The
Designated Officers are authorized to execute and deliver on behalf of PNC Bank the Primary Servicing Agreement dated as of August
1, 2019, between Wells Fargo Bank, National Association, as Master Servicer, and Midland Loan Services, a Division of PNC Bank,
National Association, as Primary Servicer with respect to the BBCMS Mortgage Trust 2019-C4, Commercial Mortgage Pass-Through Certificates,
Series 2019-C4.

    	 	B-1	 

     

    

IN WITNESS WHEREOF, I have hereunto set my hand as Senior
Vice President of PNC Bank as of the ____ day of _____, ____.

 

 

 

By: _________________________________________________

David A. Eckels

Senior Vice President of a Division of PNC Bank,

National Association

    	 	B-2	 

     

    

EXHIBIT C 

POOLING AND SERVICING AGREEMENT

Previously delivered.

 

 

    	 	C-1	 

     

    

EXHIBIT D

 

RESERVED

 

 

 

 

  

 

    	 	D-1	 

     

    

EXHIBIT E

 

QUARTERLY SERVICING CERTIFICATION

 

Primary Servicer:Midland Loan Services, a Division of PNC
Bank, National Association (“Midland”)

 

RE: BBCMS 2019-C4

 

Pursuant to the Servicing
Agreement(s) between Wells Fargo Bank, National Association and Midland, we certify with respect to the serviced loan combination
serviced by us on behalf of Wells Fargo Bank, National Association for the benefit of the Certificateholders that, as of the quarter
ending ____________________ except as otherwise noted below:

		·	All taxes, assessments and other governmental charges levied against the mortgaged premises, ground
rents payable with respect to the mortgaged premises, if any, which would be delinquent if not paid, have been paid.

		·	Based on Midland’s monitoring of the insurance in accordance with the Servicing Standard,
to the best of our knowledge, all required insurance policies are in full force and effect on the mortgaged premises in the form
and amount and with the coverage required by the Servicing Agreement(s).

		·	All necessary action has been taken to continue all UCC Financing Statements in favor of the originator
of each mortgage loan and the serviced companion loan or in favor of any assignee prior to the expiration of such UCC Financing
Statements.

		·	All reserves are maintained and disbursed in accordance with the loan documents and no expired
reserves exist.

 

EXCEPTIONS:

_________________________________________________________________

 

 

 

 

	_______________________	______________________
	Servicing Officer	Date

 

    	 	E-1	 

     

    

EXHIBIT F 

FORM OF ACCOUNT CERTIFICATION

 

Securitization:____________________________________________________________

 

Primary Servicer: __________________________________________________________

 

	______ New Account	________ Change of Account Information

 

Indicate purpose of account (check
all that apply):

 

	______ Principal & Interest	______ Deposit Clearing
	______ Taxes & Insurance	______ Disbursement Clearing
	______ Reserves (non-interest bearing)	______ Suspense
	______ Reserves (interest bearing)	 

 

Account Number: _________________________________________________________

 

Account Name: ___________________________________________________________

 

Depository Institution (and Branch):

 

Name: ____________________________________________________________

 

Street: ____________________________________________________________

 

City, State, Zip: ____________________________________________________

 

Rating Agency: ______________________Rating: _______________________

Please note that the name of the account must follow the
guideline specifications detailed in the applicable agreement.

 

Prepared by: _____________________________________________________________

 

Signature: _______________________________________________________________

 

Title: ___________________________________________________________________

 

Date: ___________________________________________________________________

 

Telephone: ________________________________Fax: __________________________

 

    	 	F-1	 

     

    

EXHIBIT G 

FORM OF

COLLECTION REPORT

 

Series _____

Month of __________________

 

 

	
         

        1
	
         

        2
	
         

        3
	
         

        4
	
         

        5
	
         

        6
	
         

        7
	
         

        8
	
         

        9
	
         

        10
	
         

        11
	
         

        12
	
         

        13
	
         

        14
	
         

        15
	
         

        16
	
         

        17
	
         

        18
	
         

        19
	
         

        20
	
         

        21
	
         

        22
	
         

        23
	
         

        24
	
         

        25
	
         

        26
	
         

        27
	
         

        28
	
         

        29
	
         

        30
	
         

        31
	
         

        32
	
         

        33
	
         

        34
	
         

        35
	
         

        36
	
         

        37
	
         

        38
	
         

        39

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
         

        Sched
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Addl	Neg Am/	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Sub Serv ID	Master Servicer Loan#	Sub- Servicer Loan#	
         

        Prosp
        ID
	Sched Due Date	
        Begin

        Balance
        Prior to Pmt
	
        Ending

        Balance
        After Pmt
	Paid Thru Date	Current Note Rate	Sub- Servicer Fee Rate	Sched Prin Pmt	Sched Int Pmt	Sched P&I Amount	
        Sched

        Sub-
        Serv Fee
	Sub- Sub Fee	Deferred Int Amount	Unsched Principal Rec'd	Other Principal Adjust	Other Interest Adjust	Liq/ Prepmt Date	
        Prepmt

        Penalty
        / YM

        Rec'd
	Prepmt Int Exc/Short	Liq/ Prepmt Code	T&I Advances O/S	
        Pmt
        Eff Date

        Recd
	Actual Principal Rec'd	
        Actual

        (Gross) Interest
        Rec'd
	
        Actual

        Sub-
        Servicer Fee Paid
	Addl Sub-Sub Fee Paid	
        Actual

        (Net)
        Interest Rec'd
	Late Charges Rec'd	Default Interest Rec'd	Assum Fees Rec'd	Addl Fees Rec'd	
         

        Remittan ce
        Amount
	Actual Loan Balance	Total Reserve Balance	Pmt Loan Status	
         

         

        Comments

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	 	0.00	0.00	 	0.00	 	0.00	0.00	0.00	 	 	0.00	0.00	0.00	0.00	0.00	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	NET REMIT

TO MS	-	 	 	 	 

 

	Loan Status	A - payment not received but still in grace period	
	 	B - late payment but less than 1 month delinquent	 
	 	O - Current	 
	 	1 - One month delinquent	 
	 	2 - Two months delinquent	 
	 	3 - Three months delinquent	 
	 	4 - Assumed Schedule Payment	 
	 	5 - Prepaid in Full	 
	 	6 - Specially Serviced	 
	 	Prepared By	7 - in foreclosure
	 	Approved By	9 - REO
	 	10 - DPO	 
	 	11 - Modification	 

 

 

    	 	G-1	 

     

    

EXHIBIT H

 

FORM OF CERTIFICATE OF INSURANCE

 

Primary Servicer:________________________________________

 

Re: BBCMS 2019-C4

 

Pursuant to the Primary Servicing Agreement(s)
between Wells Fargo Bank, National Association and [Primary Servicer], based on [Primary Servicer’s] monitoring of the insurance
in accordance with the Servicing Standard, we certify with respect to the Mortgage Loan and Serviced Companion Loans serviced by
us for Wells Fargo Bank, National Association that all required insurance policies are in full force and effect on the mortgaged
premises in the form and amount and with the coverage required by the Servicing Agreement(s).

 

 

 

	_______________________	____________________________
	Servicing Officer	Date

 

 

    	 	H-1	 

     

    

EXHIBIT I

 

NEW LEASE INFORMATION

 

Loan # __________________________Property
Type: __________________________Tenant: __________________________

Property Name/Address:
_________________________________________________________________________________

Term (Years, Months): ____________Sq Ft Gross Rentable:
________________Net Rentable ____________________________

Begin Lease Date:
__________________________________________               Retail

End Lease
Date:
___________________________________________              
 Office

Occupancy Date (if
diff): ____________________________________             
    Other

 

Minimum Rent_____________________________________________________
     (S/SF/YR)

 

	 	 	 	 	(Mo/Yr)	Escalation:	CPI	Other
	 	Change to	on	 	 	 	 	 
	 	Change to	on	 	 	 	 	 
	 	Change to	on	 	 	 	 	 
	 	Change to	on	 	 	 	 	 

 

Percentage Rent

 

	 	% Amount	For	 	% Rent Due:	 
	 	 	For	 	 	Monthly
	 	 	Up to	 	 	Quarterly
	 	 	Up to	 	 	Annually

 

	Breakpoint	(S/Yr)	Sales Report Due:
    ___________________________________________________

 

	 	 	 	 	(Mo/Yr)	 
	 	Change to	on	 	 	Monthly
	 	Change to	on	 	 	Quarterly
	 	Change to	on	 	 	Annually

 

Recoveries

 

	Taxes___________________________	 	Per____________________________
	Insurance________________________	 	Per____________________________
	Cam____________________________	 	Per____________________________
	HVAC__________________________	 	Per____________________________
	Adver/Promo_____________________	 	Per____________________________
	 	 	Per____________________________
	 	 	Per____________________________
	Management______________________	 	Per____________________________

 

    	I-1

    	 

    

 

Renewal Options

 

	Term____________________________	 	SF_____________________________
	Minimum rent____________________	 	Gross Rentable__________________
	% Rent__________________________	 	Net Rentable____________________

 

Landlord Costs

Alterations: _____________________________________________________________________________________________________

Commissions: ___________________________________________________________________________________________________

Moving Allowances: ______________________________________________________________________________________________

Buyout Clauses: _________________________________________________________________________________________________

Other: _________________________________________________________________________________________________________

 

Building Insurance Requirements

Tenant maintains fire & ED on building(s); will need coverage to renew

Does not furnish building coverage

General liability naming landlord mortgagee as additional insured; will need coverage for review

General liability without mentioning landlord’s mortgagee; do not need coverage

 

Waiver of Subrogation

N/A

Mutual; will need endorsement

Landlord only; will need endorsement

Tenant only; do not need endorsement

 

Comments:

 

Attachments:

Original Lease

Original Subordination Agreement

 

 

    	 	I-2	 

     

    

EXHIBIT J 

 

MONTHLY SERVICING ACCOUNTS CERTIFICATION

 

Primary Servicer:________________________________________

 

Re: BBCMS 2019-C4

 

Pursuant to the Servicing Agreement(s)
between Wells Fargo Bank, National Association and the above named Servicer, I certify with respect to each transaction serviced
by us, as noted above, for Wells Fargo Bank, National Association that as of ________________ (Determination Date) all collection
accounts and servicing accounts have been properly reconciled and the reconciliations have been reviewed and approved by Servicer’s
management, except as otherwise noted below:

 

EXCEPTIONS:

 

 

	_____________________	________________________
	Servicing Officer	Date

 

    	 	J-1

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