Document:

Exhibit 4.10

CO-LENDER AGREEMENT

Dated as of July 2, 2021

by and between

CITI REAL ESTATE FUNDING INC.

(Initial Note A-1 Holder)

and

CITI REAL ESTATE FUNDING INC.

(Initial Note A-2 Holder)

ExchangeRight Net Leased Portfolio #48

 

    	 	 	 

     

    

TABLE OF CONTENTS

	 	 	Page
	 	 	 
	Section 1.	Definitions	1
	Section 2.	Servicing of the Mortgage Loan	15
	Section 3.	Priority of Payments	25
	Section 4.	Workout	26
	Section 5.	Administration of the Mortgage Loan	26
	Section 6.	Appointment of Controlling Note Holder Representative and Non-Controlling Note Holder Representative	32
	Section 7.	Appointment of Special Servicer	33
	Section 8.	Payment Procedure	34
	Section 9.	Limitation on Liability of the Note Holders	35
	Section 10.	Bankruptcy	35
	Section 11.	Representations of the Note Holders	36
	Section 12.	Independent Analysis of Each Note Holder	36
	Section 13.	No Creation of a Partnership or Exclusive Purchase Right	37
	Section 14.	Other Business Activities of the Note Holders	37
	Section 15.	Sale of the Notes	37
	Section 16.	Registration of the Notes and Each Note Holder	40
	Section 17.	Governing Law; Waiver of Jury Trial	41
	Section 18.	Submission to Jurisdiction; Waivers	41
	Section 19.	Modifications	41
	Section 20.	Successors and Assigns; Third Party Beneficiaries	42
	Section 21.	Counterparts	42
	Section 22.	Captions	42
	Section 23.	Severability	42
	Section 24.	Entire Agreement	43
	Section 25.	Withholding Taxes	43
	Section 26.	Custody of Mortgage Loan Documents	44
	Section 27.	Cooperation in Securitization	44
	Section 28.	Notices	45
	Section 29.	Broker	46
	Section 30.	Certain Matters Affecting the Agent	46
	Section 31.	Reserved	46
	Section 32.	Resignation of Agent	46
	Section 33.	Resizing	47

 

 

    	 	 -i-	 

     

    

THIS CO-LENDER AGREEMENT
(this “Agreement”), dated as of July 2, 2021 is by and between CITI REAL ESTATE FUNDING INC. (“CREFI”
and together with its successors and assigns in interest, in its capacity as initial owner of the Note A-1, the “Initial
Note A-1 Holder”, and in its capacity as the initial agent, the “Initial Agent”) and CREFI (together with
its successors and assigns in interest, in its capacity as initial owner of the Note A-2, the “Initial Note A-2 Holder”
and, together with the Initial Note A-1 Holder, the “Initial Note Holders”).

W I T N E S S E T H:

WHEREAS, pursuant to the
Mortgage Loan Agreement (as defined herein), CREFI originated a certain loan (the “Mortgage Loan”) described on the
schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the mortgage loan borrower described on the
Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which was evidenced, inter alia, by one promissory note
in the original principal amount of $47,035,000 (the “Original Note”) made by the Mortgage Loan Borrower in favor of
CREFI, 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”);

WHEREAS, CREFI and the Mortgage
Loan Borrower have agreed, pursuant to that certain Note Splitter, Amendment and Restatement Agreement, dated as of July 2, 2021 between
such parties, to split the Original Note into (i) one replacement promissory note in the original principal amount of $27,000,000 (“Note
A-1”) made by the Mortgage Loan Borrower in favor of the Initial Note A-1 Holder and (ii) one replacement promissory note in
the original principal amount of $20,035,000 (“Note A-2” and, collectively with Note A-1, as each such note
is amended, modified, supplemented or split, the “Notes”) made by the Mortgage Loan Borrower in favor of the Initial
Note A-2 Holder;

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

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

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

“Advance”
shall mean any P&I Advance or Property Advance.

“Advance Interest
Amount” shall mean interest accrued on Advances in accordance with the terms of the Lead Securitization Servicing Agreement.

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

    	 	 	 

     

    

“Agent”
shall mean the Initial Agent or such Person to whom the Initial Agent shall assign or delegate its duties hereunder, provided that
at any time that the Lead Securitization Note is included in the Lead Securitization, “Agent” shall mean the Master Servicer
as of such time.

“Agent Office”
shall mean the designated office of the Agent, which office at the date of this Agreement is the office of the Initial Agent 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 Note Holders.

“Agreement”
shall mean this Co-Lender Agreement, the exhibits and schedule hereto and all amendments hereof and supplements hereto.

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

“Asset Representations
Reviewer” shall mean the “asset representations reviewer” under the Lead Securitization Servicing Agreement.

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

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

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

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

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

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

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

“Conduit”
shall have the meaning assigned to such term in Section 15(d).

    	 	 2	 

     

    

“Conduit Credit
Enhancer” shall have the meaning assigned to such term in Section 15(d).

“Conduit Inventory
Loan” shall have the meaning assigned to such term in Section 15(d).

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

“Controlling Note”
shall mean Note A-1.

“Controlling Note
Holder” shall mean the Note A-1 Holder; provided that for so long as the Note A-1 Holder (or the majority “controlling
class” holder or other party assigned the rights to exercise the rights of the Note A-1 Holder) is a Borrower Party, the Note A-1
Holder (and the majority “controlling class” holder or other party assigned the rights to exercise the rights of the Note
A-1 Holder) shall not be entitled to exercise any rights it may otherwise have as Controlling Note Holder, and there shall be deemed to
be no Controlling Note Holder hereunder. At any time that Note A-1 is included in a Securitization, references to the “Controlling
Note Holder” shall mean the Lead Securitization Subordinate Class Representative or any other party assigned the rights to exercise
the rights of the “Controlling Note Holder” hereunder, as and to the extent provided in the related Lead Securitization Servicing
Agreement.

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

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

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

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

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

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

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

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

    	 	 3	 

     

    

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

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

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

“Insolvency Proceeding”
shall mean any proceeding under Title 11 of the United States Code (11 U.S.C. Sec. 101 et seq.) or any other insolvency, liquidation,
reorganization or other similar proceeding concerning the Mortgage Loan Borrower, any action for the dissolution of the Mortgage Loan
Borrower, any proceeding (judicial or otherwise) concerning the application of the assets of the Mortgage Loan Borrower for the benefit
of its creditors, the appointment of or any proceeding seeking the appointment of a trustee, receiver or other similar custodian for all
or any substantial part of the assets of the Mortgage Loan Borrower or any other action concerning the adjustment of the debts of the
Mortgage Loan Borrower, the cessation of business by the Mortgage Loan Borrower, except following a sale, transfer or other disposition
of all or substantially all of the assets of the Mortgage Loan Borrower in a transaction permitted under the Mortgage Loan Documents;
provided, 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.

“Interest Rate”
shall mean the Interest Rate (as defined in the Mortgage Loan Documents).

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

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

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

“Lead Securitization”
shall mean:

(i) during the period
from and after the Securitization of any Note other than Note A-1 and prior to the Securitization of Note A-1 in a Securitization Trust,
the Securitization with the earliest Securitization Date; provided that, prior to the Securitization of Note A-1,

    	 	 4	 

     

    

if two or more Notes other than Note
A-1 have the earliest Securitization Date and the same Securitization Date but are included in different Securitizations, then the Securitization
including the Note(s) with the larger (aggregate) principal balance shall be the Lead Securitization; and

(ii) immediately
upon the occurrence of and following the Securitization of Note A-1, the Securitization of Note A-1 in a Securitization Trust to be designated
by the Initial Note A-1 Holder.

“Lead Securitization
Date” shall mean the effective date on which the Lead Securitization is consummated.

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

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

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

“Lead Securitization
Subordinate Class Representative” shall mean the “Controlling Class Representative” or “Directing Holder”
(or any term substantially similar thereto) as defined in the Lead Securitization Servicing Agreement.

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

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

“Major Decisions”
shall have the meaning given to such term or any analogous term in the Lead Securitization Servicing Agreement; provided that, at any
time that neither Note is included in the Lead Securitization, “Major Decision” shall mean, collectively,

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

(ii)         any
modification, consent to a modification or waiver of a monetary term (other than Penalty Charges if the Mortgage Loan is not a Specially
Serviced Loan) or material non-monetary term (including, without limitation, a modification with respect to the timing of payments and
acceptance of discounted payoffs but excluding waiver of Penalty Charges) of the Mortgage Loan or any extension of the Maturity Date of
the Mortgage Loan;

    	 	 5	 

     

    

(iii)       any
sale of the Mortgage Loan (when it is a Defaulted Mortgage Loan) or REO Property (other than in connection with the termination of the
Trust Fund) for less than the applicable Purchase Price;

(iv)       any
determination to bring an REO Property into compliance with applicable environmental laws or to otherwise address Hazardous Materials
located at an REO Property;

(v)        any
release of collateral or any acceptance of substitute or additional collateral for the Mortgage Loan, or any consent to either of the
foregoing, other than immaterial condemnation actions and other similar takings or if otherwise required pursuant to the specific terms
of the Mortgage Loan and for which there is no lender discretion;

(vi)       any
waiver of a “due-on-sale” or “due-on-encumbrance” clause with respect to the Mortgage Loan or, if lender consent
is required, any consent to such waiver or consent to a transfer of the Mortgaged Property or interests in the Mortgage Loan Borrower
or consent to the incurrence of additional debt, other than any such transfer or incurrence of debt as may be effected without the consent
of the lender under the related loan agreement or related to an immaterial easement, right of way or similar agreement;

(vii)       any
property management company changes or franchise changes (in each case, to the extent the lender is required to consent or approve under
the Mortgage Loan Documents);

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

(ix)        any
acceptance of an assumption agreement or any other agreement permitting transfer of interests in the Mortgage Loan Borrower or a guarantor
releasing the Mortgage Loan Borrower or a guarantor from liability under the Mortgage Loan other than pursuant to the specific terms of
the Mortgage Loan and for which there is no lender discretion;

(x)        the
determination of the Special Servicer pursuant to clause (b) or clause (c) of the definition of “Specially Serviced Loan”
in the Lead Securitization Servicing Agreement;

(xi)        following
a default or an event of default with respect to the Mortgage Loan, any acceleration of the Mortgage Loan, or initiation of judicial,
bankruptcy or similar proceedings under the Mortgage Loan Documents or with respect to the Mortgage Loan Borrower or Mortgaged Property;

(xii)       any
modification, waiver or amendment of an intercreditor agreement, co-lender agreement or similar agreement with any mezzanine lender

    	 	 6	 

     

    

or subordinate debt holder related to the
Mortgage Loan, or an action to enforce rights with respect thereto;

(xiii)      any
determination of an Acceptable Insurance Default;

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

(xv)       any
approval of any casualty insurance settlements or condemnation settlements, and any determination to apply casualty proceeds or condemnation
awards to the reduction of the debt rather than to the restoration of the Mortgaged Property.

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

“Master Servicer
Remittance Date” shall have the meaning assigned to such term (or analogous term) in the Lead Securitization Servicing Agreement.

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

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

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

“Mortgage Loan Agreement”
shall mean the Loan Agreement, dated as of June 30, 2021, between the Mortgage Loan Borrower, as borrower, and CREFI, as lender, as the
same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

“Mortgage Loan 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 14.

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

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

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

    	 	 7	 

     

    

“Non-Controlling
Note” shall mean any Note that is not the Controlling Note.

“Non-Controlling
Note Holder” shall mean the Note Holder that is not the Controlling Note Holder. If the Non-Controlling Note Holder is a Borrower
Party, it shall not be entitled to exercise the rights of a Non-Controlling Note Holder under this Agreement.

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

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

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

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

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

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

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

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

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

“Non-Lead Securitization
Note” shall mean the Note that is not a Lead Securitization Note.

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

    	 	 8	 

     

    

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

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

“Non-Lead Securitization
Trust” shall mean the Securitization Trust that holds the Non-Lead Securitization Note.

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

“Non-Lead Sponsor”
shall mean the Note A-2 Holder in its capacity as the sponsor with respect to the Non-Lead Securitization Note in connection with the
Non-Lead Securitization.

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

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

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

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

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

“Note A-1 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 Section 3 or 4, as applicable.

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

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

“Note A-2 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 Section 3 or 4, as applicable.

    	 	 9	 

     

    

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

“Note Pledgee”
shall have the meaning assigned to such term in Section 15(c).

“Note Register”
shall have the meaning assigned to such term in Section 16.

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

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

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

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

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

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

“Pledge”
shall have the meaning assigned to such term in Section 15(c).

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

“Property Advance”
shall have the meaning given thereto (or to the term “Servicing Advance”) in the Lead Securitization Servicing Agreement.

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

(a)       an
entity Controlled by, Controlling or under common Control with, or either of, the Initial Note Holders, or

    	 	 10	 

     

    

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

(c)       one
or more of the following:

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

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

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

(iv)       an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments of at
least $250,000,000, in which (A) any Initial Note Holder, (B) a person that is otherwise a Qualified Institutional Lender under clause
(i), (ii) or (v) (with respect to an institution substantially similar to the entities referred to in clause (i) or (ii) above), or (C)
a Permitted Fund Manager, acts as a general partner, managing member, or the fund manager responsible for the day-to-day management and
operation of such

    	 	 11	 

     

    

investment vehicle, and provided
that at least 50% of the equity interests in such investment vehicle are owned, directly or indirectly, by one or more entities that are
otherwise Qualified Institutional Lenders (without regard to the capital surplus/equity and total asset requirements set forth below in
the definition), or

(v)       an
institution substantially similar to any of the foregoing, and in the case of any entity referred to in clause (c)(i), (ii), (iii), (iv)(B)
or (v) of this definition, (x) such entity has at least $200,000,000 in capital/statutory surplus or shareholders’ equity (except
with respect to a pension advisory firm or similar fiduciary) and at least $600,000,000 in total assets (in name or under management),
and (y) is regularly engaged in the business of making or owning commercial real estate loans (or interests therein) similar to the Mortgage
Loan (or mezzanine loans with respect thereto) or owning or operating commercial real estate properties; provided that, in the
case of the entity described in clause (iv)(B) above, the requirements of this clause (y) may be satisfied by a general partner, managing
member, or the fund manager responsible for the day-to-day management and operation of such entity; or

(d)       any
entity Controlled by any of the entities described in clause (c)(i), (ii), (iv)(B) or (v) of this definition 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.

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

“Rating Agency Confirmation”
shall mean (i) prior to a Securitization, with respect to any matter that each applicable Rating Agency shall have confirmed in writing
(which may be in electronic form) that a proposed action, failure to act or other event so specified will not, in and of itself, result
in the downgrade, withdrawal or qualification of the then-current ratings assigned by such Rating Agency to any securities issued in connection
with any Securitization; provided, however, that a written waiver or other acknowledgment or course of conduct from the
Rating

    	 	 12	 

     

    

Agency indicating its decision not to review
the matter for which the Rating Agency Confirmation is sought shall be deemed to satisfy the requirement for the Rating Agency Confirmation
from each Rating Agency with respect to such matter, and (ii) after a Securitization, the meaning given thereto or to any analogous term
in the Lead Securitization Servicing Agreement including any deemed Rating Agency Confirmation.

“Redirection Notice”
shall have the meaning assigned to such term in Section 15(c).

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

“REMIC”
shall have the meaning assigned to such term in Section 5(e).

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

“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 a Note Holder of all or a portion of such Note to a depositor, who will in turn include such portion of
such Note as part of a securitization of one or more mortgage loans.

    	 	 13	 

     

    

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

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

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

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

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

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

“Servicing Standard”
shall have the meaning given thereto in the Lead Securitization Servicing Agreement (or other analogous term under the Lead Securitization
Servicing Agreement); provided that the Servicing Standard shall require, among other things, that each Servicer, in servicing
the Mortgage Loan, must take into account the interests of each Note Holder.

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

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

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

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

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

    	 	 14	 

     

    

Section 2.        Servicing
of the Mortgage Loan.

(a)       Each
Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced from and after the
Lead Securitization Date, pursuant to the Lead Securitization Servicing Agreement; provided that the Master Servicer shall not
be obligated to advance monthly payments of principal or interest in respect of any Note other than the Lead Securitization Note if such
principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated to advance delinquent real estate taxes, insurance
premiums and other expenses related to the maintenance of the Mortgaged Property and maintenance and enforcement of the lien of the Mortgage
thereon, subject to the terms of the Lead Securitization Servicing Agreement (including a determination of recoverability thereunder).
Each Note Holder acknowledges that the other Note Holder may elect, in its sole discretion, to include its Note in a Securitization and
agrees that it will, subject to Section 27, reasonably cooperate with such other Note Holder, at such other Note Holder’s
expense, to effect such Securitization. Subject to the terms and conditions of this Agreement, each Note Holder hereby irrevocably and
unconditionally consents to the appointment of the Master Servicer, the Certificate Administrator, the Operating Advisor and the Trustee
under the Lead Securitization Servicing Agreement by the Depositor, and the appointment of the Special Servicer as the initial Special
Servicer under the Lead Securitization Servicing Agreement by the Depositor (subject to replacement by the Controlling Note Holder 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 the Lead Securitization Servicing Agreement. Each Note Holder hereby appoints the Master Servicer,
the Special Servicer and the Trustee in the Lead Securitization as such Note Holder’s attorney-in-fact to sign any documents reasonably
required with respect to the administration and servicing of the Mortgage Loan on its behalf under the Lead Securitization Servicing Agreement
(subject at all times to the rights of the Note Holder set forth herein and in the Lead Securitization Servicing Agreement). In no event
shall the Lead Securitization Servicing Agreement require the Servicer to enforce the rights of any Note Holder or limit the Servicer
in enforcing the rights of one Note Holder against the other Note Holder; however, this statement shall not be construed to otherwise
limit the rights of one Note Holder with respect to the other Note Holder. Each Servicer shall be required pursuant to the Lead Securitization
Servicing Agreement to service the Mortgage Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents,
the Lead Securitization Servicing Agreement and applicable law, and shall not take any action or refrain from taking any action or follow
any direction inconsistent with the foregoing.

At any time that the Mortgage
Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note Holders agree to cause the Mortgage
Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note Holders, pursuant to a servicing agreement
that has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all references herein to the “Lead
Securitization Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that the Notes
that constituted the Lead Securitization Note shall continue to be considered as the Lead Securitization Note; provided further, however,
that unless otherwise agreed to by the holder of the Lead Securitization Note, the master servicer under such subsequent servicing agreement
shall not be required to make any P&I Advance in respect of such Note; provided further, however, that if the 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

    	 	 15	 

     

    

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, however, that until a replacement servicing agreement
has been entered into, the Lead Securitization Note Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions of
the Lead Securitization Servicing Agreement (excluding, however, any obligation to make any P&I Advances in respect of the Lead Securitization
Note except as specifically agreed to by the Servicer, and provided that the Servicer’s right to reimbursement for Property Advances
as set forth in Section 2(b) shall remain in effect) as if such agreement was still in full force and effect with respect to the
Mortgage Loan, by the Servicer in the Lead Securitization or by any Person appointed by the Lead Securitization Note Holder that is a
qualified servicer meeting the requirements of the Lead Securitization Servicing Agreement (and, in the case of the Special Servicer,
that satisfies the Required Special Servicer Rating).

(b)       The
Master Servicer shall be the lead master servicer on the Mortgage Loan, and from time to time it (or the Trustee, to the extent provided
in the Lead Securitization Servicing Agreement) (i) shall be required to make Property 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 Advance, first
from funds on deposit in the Loan Combination Custodial Account for the Mortgage Loan 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 Advances, if such funds on deposit in the Loan Combination Custodial 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 Securitization as provided below. The Master Servicer, the Special Servicer and the Trustee, as applicable, will be entitled
to reimbursement for Advance Interest Amounts on a Property Advance or a Nonrecoverable Property Advance, in the manner and from the sources
provided in the Lead Securitization Servicing Agreement, including from general collections of the Lead Securitization and from general
collections of the Non-Lead Securitization as provided below. Notwithstanding the foregoing, to the extent the Master Servicer, the Special
Servicer or the Trustee, as applicable, obtains funds from general collections of the Lead Securitization as a reimbursement for a Nonrecoverable
Property Advance or any Advance Interest Amounts on a Property Advance or a Nonrecoverable Property Advance, the Non-Lead Securitization
Note Holder (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 Advance
or Advance Interest Amounts.

In addition, the Non-Lead
Securitization Note Holder (including, but not limited to, the Non-Lead Securitization Trust) shall be required to, promptly following
notice from the Master Servicer or the Special Servicer, pay or reimburse the Lead Securitization for the Non-Lead Securitization Note
Holder’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 as to which the Master Servicer,
the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor or

    	 	 16	 

     

    

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, in each case to the extent amounts on deposit in the Loan Combination Custodial Account that are allocated to the Non-Lead
Securitization Note are insufficient for reimbursement of such amounts (which such reimbursement shall be made, if the 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).
The Non-Lead Securitization Note Holder 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 the
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 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 Loan Combination Custodial Account that are allocated to the Non-Lead Securitization Note are
insufficient for reimbursement of such amounts, the Non-Lead Securitization Note Holder shall be required to, promptly following notice
from the Master Servicer, the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share
of the insufficiency (including, if the 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).

The Non-Lead Master Servicer
may be required to make P&I Advances on the Non-Lead Securitization Note, from time to time, subject to the terms of the 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. The Non-Lead Master Servicer and the Non-Lead Special Servicer and the Non-Lead Trustee, as applicable, shall be
entitled to make their own recoverability determination with respect to a P&I Advance to be made on the Non-Lead Securitization Note
based on the information that they have on hand and in accordance with the Non-Lead Securitization Servicing Agreement. The Master Servicer
and the Trustee, as applicable, and the Non-Lead Master Servicer or the Non-Lead Trustee shall be required to notify each other servicer
and trustee under the Securitizations 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 the Non-Lead Master
Servicer, the Non-Lead Special Servicer or the Non-Lead Trustee, as applicable (with respect to the 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

    	 	 17	 

     

    

proposed Property Advance would be non-recoverable
or an outstanding Property Advance is or would be non-recoverable, then the Master Servicer or the Trustee (as provided in the Lead Securitization
Servicing Agreement, in the case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee)
or the Non-Lead Master Servicer or the Non-Lead Trustee (as provided in the Non-Lead Securitization Servicing Agreement, in the case of
a determination of non-recoverability by the Non-Lead Master Servicer, the Non-Lead Special Servicer or the Non-Lead Trustee) shall notify
each other servicer and trustee under the Securitizations, as the case may be, within two (2) Business Days of making such determination.
Each of the Master Servicer, the Trustee, the Non-Lead Master Servicer and the Non-Lead Trustee, as applicable, will only be entitled
to reimbursement for a P&I Advance that becomes non-recoverable and Advance Interest Amounts thereon first from the Loan Combination
Custodial Account 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 the Non-Lead Securitization Note, from general collections of the related
Securitization Trust, as and to the extent provided in the Non-Lead Securitization Servicing Agreement.

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

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

(ii)        if
the Master Servicer determines that a proposed P&I Advance with respect to the Lead Securitization Note or Property Advance with respect
to the Mortgage Loan, if made, or any outstanding P&I Advance or Property Advance previously made, would be, or is, as applicable,
a Nonrecoverable Advance, the Master Servicer shall provide the Non-Lead Master Servicer written notice of such determination promptly
after such determination was made together with such reports that the Master Servicer delivered to the Special Servicer or Trustee in
connection with notification of its determination of nonrecoverability;

(iii)       the
Master Servicer shall remit all payments received with respect to the Non-Lead Securitization Note, net of the servicing fees payable
to the Master Servicer and Special Servicer with respect to such Non-Lead Securitization Note, and any other applicable fees and reimbursements
payable to the Master Servicer, the Special Servicer and the Trustee, to the Non-Lead Securitization Note Holder by the earlier of (x)
the Master Servicer Remittance Date (as defined in the Lead Securitization Servicing Agreement) and (y) the Business Day following the
“determination date” (or any term substantially similar thereto) as defined in the Non-Lead Securitization Servicing Agreement
(such determination date, the “Non-Lead Securitization Determination Date”), in each case as long as the date on which
remittance is required under this clause (iii) is at least one (1)

    	 	 18	 

     

    

Business Day after the scheduled monthly
payment date under the Mortgage Loan Agreement, provided, that 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(c)(xi) below;

(iv)       in
connection with the expedited remittances contemplated by the preceding clause (iii) and the expedited reporting contemplated by the following
clause (v), the Special Servicer shall (x) expedite its delivery of reports to the Master Servicer with respect to the Mortgage Loan or
the Mortgaged Property (including the delivery of information contemplated by CREFC® reports that the Special Servicer is required
to deliver to the Master Servicer) so that the reports (including CREFC® reports) provided by the Master Servicer to each Non-Lead
Securitization Note Holder may include all information contemplated to be included therein for the applicable reporting period, and (y)
expedite withdrawals from accounts maintained by it and remittances to the Master Servicer in respect of the Mortgage Loan or the Mortgaged
Property so that the Master Servicer’s remittances to each Non-Lead Securitization Note Holder contemplated by the preceding clause
(iii) may include all amounts for the applicable collection period;

(v)       with
respect to the Non-Lead Securitization Note that is held by a Securitization, the Master Servicer agrees to deliver or cause to be delivered
or to make available to the 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, the Non-Lead Securitization Note, the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee, by the earlier of (x) the Master Servicer Remittance Date and (y) the Business Day following the Non-Lead Securitization
Determination Date, in each case so long as the date on which delivery is required under this clause (v) is at least one (1) Business
Day after the scheduled monthly payment date under the Mortgage Loan Agreement;

(vi)       the
Master Servicer and the Special Servicer, as applicable, shall provide (in electronic media) to the Non-Lead Securitization Note Holder
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;

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

(viii)       the
Non-Lead Securitization Note Holder shall be entitled to the same indemnity as the Lead Securitization Note Holder under the Lead Securitization
Servicing Agreement; each of the Master Servicer, the Special Servicer, the Trustee, the Certificate

    	 	 19	 

     

    

Administrator, the Operating Advisor,
the Custodian shall be required to (and shall require any Servicing Function Participant or Additional Servicer engaged by it to) indemnify
each Certifying Person and the 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 (viii) 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;

(ix)       with
respect to the 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 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 United States Securities and Exchange Commission (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 Note Holder 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 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

    	 	 20	 

     

    

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;

(x)       each
of the Master Servicer, the Special Servicer, the Custodian and the Trustee and each Affected Reporting Party shall cooperate (and require
each Servicing Function Participant and Additional Servicer retained by it to cooperate under the applicable Sub-Servicing Agreement),
with the 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 the 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;

(xi)       any
late collections received by the Master Servicer from the Mortgage Loan Borrower that are allocable to the 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 within one (1) Business Day of receipt of properly identified funds; provided, however, that to the extent any such amounts are
received after 3:00 p.m. Eastern time on any given Business Day, the Master Servicer shall use commercially reasonable efforts to remit
such amounts to the Non-Lead Master Servicer within one (1) Business Day of receipt of properly identified funds but, in any event, the
Master Servicer shall remit such amounts within two (2) Business Days of receipt of properly identified funds; and provided, further,
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;

    	 	 21	 

     

    

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

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

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

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

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

(xvii)   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 the Non-Lead Securitization Note Holder, 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 Loan Combination Custodial 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) 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

    	 	 22	 

     

    

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

(xviii)   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 the Non-Lead Trustee, the Non-Lead Master Servicer, and the 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;

(xix)     if
the Non-Lead Securitization Note becomes the subject of an Asset Review pursuant to the 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

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

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

    	 	 23	 

     

    

(i)         the
Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Nonrecoverable Property Advances (and Advance Interest
Amounts 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 each respective Note are insufficient to cover such Property
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 Non-Lead Securitization Servicing Agreement for the Non-Lead Securitization Note Holder’s pro rata share of any such Nonrecoverable
Property Advances (together with Advance Interest Amounts 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 Note Holder’s pro rata share of any such Nonrecoverable Property Advances (together with Advance
Interest Amounts 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 Loan Combination Custodial 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

    	 	 24	 

     

    

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 the “Non-Controlling Note Holder” 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 the “Non-Controlling Note Holder”
under this Agreement (together with the relevant contact information) (which may be in the form of email delivery of a copy of any revised
Non-Lead Securitization Servicing Agreement); and

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

(e)       The
Lead Securitization Note Holder shall:

(i)                
on the closing date of the Lead Securitization, send a copy (in EDGAR-compatible format) of the Lead Securitization Servicing Agreement
to the other Note Holder; and

(ii)              
give the other Note Holder written notice (which may be by email) in a timely manner (but no later than one (1) Business Day prior
to the applicable filing date) of any re-filing (other than a filing made in connection with a formal amendment of the Lead Securitization
Servicing Agreement) by the Depositor of the Lead Securitization Servicing Agreement subsequent to the Securitization Date if such filing
contains revisions or changes that are material to the other Note Holder.

Section 3.        Priority
of Payments. Each Note shall be of equal priority, and no portion of either Note shall have priority or preference over any portion
of the 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, Condemnation Proceeds, or
Insurance Proceeds (other than proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged Property or
released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents), 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 property protection
expenses or Property Advances then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing
Agreement and (y) all amounts that are then due, payable or reimbursable (except for (i) any reimbursements of P&I Advances previously
made (and interest thereon) on the Lead

    	 	 25	 

     

    

Securitization Note, and (ii) any Servicing
Fees due to the Master Servicer in excess of the Non-Lead Securitization Note’s pro rata share of that portion of such Servicing
Fees calculated at the “primary servicing fee rate” (or analogous term) applicable to the Mortgage Loan as set forth in the
Lead Securitization Servicing Agreement) to any Servicer or the Trustee, with respect to the Mortgage Loan pursuant to the Lead Securitization
Servicing Agreement (including without limitation, any Additional Trust Fund Expenses relating to the Mortgage Loan (but subject to second
paragraph of Section 5(e) hereof) reimbursable to, or payable to, such parties and any Special Servicing Fees, Liquidation Fees,
Workout Fees, Assumption Fees, Modification Fees, Penalty Charges (to the extent provided in the immediately following paragraph) and
any other additional compensation payable pursuant to the Lead Securitization Servicing Agreement), shall be applied by the Lead Securitization
Note Holder (or its designee) to the Notes on a Pro Rata and Pari Passu Basis.

For clarification purposes,
Penalty Charges (as defined in the Lead Securitization Servicing Agreement) paid on each Note shall first, be used to reduce, on
a pro rata basis, the amounts payable on each Note by the amount necessary to pay the Master Servicer, the Trustee or the Special Servicer
for any interest accrued on any Property Advances and reimbursement of any Property Advances in accordance with the terms of the Lead
Securitization Servicing Agreement, second, be used to reduce the respective amounts payable on each Note by the amount necessary
to pay the Master Servicer, Trustee, 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 the Non-Lead Securitization
Servicing Agreement, as applicable), third, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount
necessary to pay Additional Trust Fund Expenses (including Special Servicing Fees, unpaid Workout Fees and Liquidation Fees) incurred
with respect to the Mortgage Loan (as specified in the Lead Securitization Servicing Agreement) and, finally, be paid to the Master
Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement.

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

Section 5.        Administration
of the Mortgage Loan.

(a)       Subject
to this Agreement (including but not limited to Section 5(d)) and the Lead Securitization Servicing Agreement and subject to the
rights and consents, where required, of the Controlling Note Holder Representative, the Lead Securitization Note Holder (or the Master
Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) shall have the sole and exclusive
authority with respect to the administration of, and

    	 	 26	 

     

    

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 the Non-Lead Securitization
Note Holder shall have no voting, consent or other rights whatsoever except as explicitly set forth herein with respect to the Lead Securitization
Note Holder’s administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan. Subject to this Agreement
and the Lead Securitization Servicing Agreement, the Non-Lead Securitization Note Holder agrees that it shall have no right to, and the
Non-Lead Securitization Note Holder hereby presently and irrevocably assigns and conveys to the Lead Securitization Note Holder (or the
Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) the rights, if any, that
such Note Holder has to, (i) call or cause the Lead Securitization Note Holder to call an Event of Default under the Mortgage Loan, or
(ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation, filing or causing
the Lead Securitization Note Holder to file any bankruptcy petition against the Mortgage Loan Borrower. The Lead Securitization Note Holder
(or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) shall not have any
fiduciary duty to the Non-Lead Securitization Note Holder in connection with the administration of the Mortgage Loan (but the foregoing
shall not relieve the Lead Securitization Note Holder from the obligation to make any disbursement of funds as set forth herein or its
obligation to follow the Servicing Standard (in the case of the Master Servicer or the Special Servicer) or any liability for failure
to do so).

Each Note Holder hereby acknowledges
the right and obligation of the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note
Holder), upon the Mortgage Loan becoming a Defaulted Mortgage Loan, to sell the Notes as notes evidencing one whole loan in accordance
with the terms of the Lead Securitization Servicing Agreement. In connection with any such sale, the Special Servicer shall be required
to sell the Notes together in such manner as will be reasonably likely to realize a fair price. Subject to the other provisions of this
paragraph and the two following paragraphs and the applicable provisions of the Lead Securitization Servicing Agreement, the Special Servicer
shall accept the first (and, if multiple offers are contemporaneously received, the highest) cash offer received from any Person that
constitutes a fair price for such Defaulted Mortgage Loan. The Special Servicer shall notify the Controlling Note Holder Representative
and the Non-Controlling Note Holder Representative of any inquiries or offers received regarding the sale of such Defaulted Mortgage Loan.

Whether any cash offer constitutes
a fair price for the Mortgage Loan shall be determined by the Special Servicer, if the highest offeror is a Person other than an Interested
Person, and by the Trustee, if the highest offeror is an Interested Person (provided that the Trustee may not be an offeror) unless (i)
the offer is equal to or greater than the applicable Purchase Price, (ii) the offer is the highest offer received and (iii) at least two
other offers are received from independent third parties; provided, however, that no offer from an Interested Person shall constitute
a fair price unless (i) it is the highest offer received and (ii) at least two other offers are received from independent third parties.
In all cases under this Agreement (except to the extent the Trustee is not required to determine whether any cash offer constitutes a
fair price for the Mortgage Loan pursuant to the immediately preceding sentence), in determining whether any offer received from an Interested
Person represents a fair price for the Mortgage Loan, the Trustee shall

    	 	 27	 

     

    

be supplied with and shall rely on the most
recent Appraisal or updated Appraisal conducted in accordance with the Lead Securitization Servicing Agreement within the preceding 9-month
period or, in the absence of any such Appraisal, on a new Appraisal. The appraiser conducting any such new Appraisal shall be an Appraiser
selected by (i) the Special Servicer if no Interested Person is making an offer with respect to the Mortgage Loan and (ii) the Trustee
if an Interested Person is so making an offer. The cost of any such Appraisal shall be covered by, and shall be reimbursable as, a Property
Advance. In determining whether any such offer from a Person other than an Interested Person constitutes a fair price for the Mortgage
Loan, the Special Servicer shall take into account (in addition to the results of any Appraisal, updated Appraisal or narrative Appraisal
that it may have obtained pursuant to the Lead Securitization Servicing Agreement within the prior 9 months), and in determining whether
any offer from an Interested Person constitutes a fair price for the Mortgage Loan, any Appraiser shall be instructed to take into account,
as applicable, among other factors, the period and amount of any delinquency on the Mortgage Loan, the occupancy level and physical condition
of the related Mortgaged Property and the state of the local economy. The Purchase Price for the Mortgage Loan shall in all cases be deemed
a fair price; provided, however, that with respect to Interested Parties, the requirements of the first sentence of this paragraph
must be satisfied. Notwithstanding anything contained in this paragraph to the contrary, if the Trustee is required to determine whether
a cash offer by an Interested Person constitutes a fair price, the Trustee may (at its option and at the expense of the Interested Person)
designate an independent third party expert in real estate or commercial mortgage loan matters with at least 5 years’ experience
in valuing or investing in loans similar to the Mortgage Loan that has been selected with reasonable care by the Trustee to determine
if such cash offer constitutes a fair price for the Mortgage Loan. If the Trustee designates such a third party to make such determination,
the Trustee will be entitled to rely conclusively upon such third party’s determination. The reasonable costs of all appraisals,
inspection reports and broker opinions of value incurred by any such third party pursuant to this paragraph will be covered by, and will
be reimbursable by the Interested Person; provided that the Trustee will not engage a third party expert whose fees exceed a commercially
reasonable amount as determined by the Trustee.

Notwithstanding the foregoing,
the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder) shall not be permitted
to sell the Mortgage Loan if it becomes a Defaulted Mortgage Loan without the written consent of the Non-Controlling Note Holder (provided
that such consent is not required if the Non-Controlling Note Holder is the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan
Borrower) unless the Special Servicer has delivered to the Non-Controlling Note Holder: (a) at least 15 Business Days’ prior written
notice of any decision to attempt to sell the Mortgage Loan; (b) at least 10 days prior to the proposed sale date, a copy of each bid
package (together with any material amendments to such bid packages) received by the Special Servicer in connection with any such proposed
sale, (c) at least 10 days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and any documents
in the Servicing File reasonably requested by the Non-Controlling Note Holder that are material to the price of the Mortgage Loan and
(d) until the sale is completed, and a reasonable period of time (but no less time than is afforded to other offerors and the Lead Securitization
Subordinate Class Representative) prior to the proposed sale date, all information and other documents being provided to other offerors
and all leases or other documents that are approved by any Servicer in connection with the proposed sale; provided, that such Non-Controlling
Note Holder may waive any of the delivery or timing requirements set forth in this sentence. Subject to the terms of the Lead Securitization
Servicing Agreement, each of the

    	 	 28	 

     

    

Controlling Note Holder, the Controlling Note
Holder Representative, the Non-Controlling Note Holder and the Non-Controlling Note Holder Representative shall be permitted to submit
an offer at any sale of the Mortgage Loan unless such Person is the Mortgage Loan Borrower or an agent or Affiliate of the Mortgage Loan
Borrower.

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

The authority of the Lead
Securitization Note Holder to sell the Non-Lead Securitization Note, and the obligations of the Non-Lead Securitization Note Holder to
execute and deliver instruments or deliver the Non-Lead Securitization Note upon request of the Lead Securitization Note Holder, shall
terminate and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization Note is repurchased
by the 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 the Non-Lead Securitization Note Holder 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.

(b)       The
administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The servicing
of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan (or to
the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant to the Lead
Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein, in accordance with the Lead Securitization
Servicing Agreement, the Lead Securitization Note Holder shall cause the Master Servicer and the Special Servicer to service and administer
the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests of both Note Holders as a collective whole.
The Note Holders agree to be bound by the terms of the Lead Securitization Servicing Agreement. All rights and obligations of the Lead
Securitization Note Holder described hereunder may be exercised by the Master Servicer, the Special Servicer, the Certificate Administrator
and/or the Trustee on behalf of the Lead Securitization Note Holder. The Lead Securitization Servicing Agreement shall not be amended
in any manner that may materially and

    	 	 29	 

     

    

adversely affect the Non-Lead Securitization
Note Holder without the Non-Lead Securitization Note Holder’s prior written consent. The Non-Lead Securitization Note Holder (unless
it is the same Person as or an Affiliate of the Mortgage Loan Borrower) shall be a third-party beneficiary to the Lead Securitization
Servicing Agreement with respect to its rights as specifically provided for therein.

(c)       The
Controlling Note Holder (or its Controlling Note Holder Representative) shall have, with respect to the Mortgage Loan, all of the same
rights and powers of the Controlling Class Representative under the Lead Securitization Servicing Agreement with respect to the other
mortgage loans included in the Lead Securitization, without limitation, the right to consent and/or consult regarding Major Decisions
and other servicing matters, the right to advise (1) the Special Servicer with respect to all Specially Serviced Loans and (2) the Special
Servicer with respect to non-Specially Serviced Loans as to all matters for which the Master Servicer must obtain the consent or deemed
consent of the Special Servicer, and the right to direct the Special Servicer to take, or to refrain from taking, such other actions with
respect to the Mortgage Loan as the Controlling Class Representative may deem advisable or as to which provision is otherwise made therein,
in each case subject to the terms, conditions and limitations of the Lead Securitization Servicing Agreement.

(d)       Notwithstanding
the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be required
(i) to provide copies of any notice, information and report that it is required to provide to the Lead Securitization Subordinate Class
Representative pursuant to the Lead Securitization Servicing Agreement with respect to any Major Decisions or the implementation of any
recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, to the Non-Controlling Note Holder (or its Non-Controlling
Note Holder Representative), within the same time frame it is required to provide such notice, information or report to the Lead Securitization
Subordinate Class Representative (for this purpose, without regard to whether such items are actually required to be provided to the Lead
Securitization Subordinate Class Representative under the Lead Securitization Servicing Agreement due to the occurrence of a Control Termination
Event or a Consultation Termination Event) and (ii) to consult with the Non-Controlling Note Holder (or its Non-Controlling Note Holder
Representative) on a strictly non-binding basis, to the extent having received such notices, information and reports, the Non-Controlling
Note Holder (or its Non-Controlling Note Holder Representative) requests consultation with respect to any such Major Decisions or the
implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, and consider alternative actions
recommended by the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative); provided that after the expiration
of a period of ten (10) Business Days from the delivery to the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative)
by the Lead Securitization Note Holder of written notice of a proposed action, together with copies of the notice, information and report
that would be required to be provided to the Lead Securitization Subordinate Class Representative as set forth above, the Lead Securitization
Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall no longer be obligated to consult with the Non-Controlling
Note Holder (or its Non-Controlling Note Holder Representative), whether or not the Non-Controlling Note Holder (or its Non-Controlling
Note Holder Representative) has responded within such ten (10) Business Day period (unless, the Lead Securitization Note Holder (or the
Master Servicer or the Special Servicer acting on its behalf) proposes a new course of action that is materially different from the

    	 	 30	 

     

    

action previously proposed, in which case such
ten (10) Business Day period shall be deemed to begin anew from the date of such proposal and delivery of all information relating thereto).
Notwithstanding the non-binding consultation rights of the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative)
set forth in the immediately preceding sentence, the Lead Securitization Note Holder (or Master Servicer or Special Servicer, acting on
its behalf) may make any Major Decision or take any action set forth in the Asset Status Report before the expiration of the aforementioned
ten (10) Business Day period if the Lead Securitization Note Holder (or Master Servicer or Special Servicer, as applicable) determines
that immediate action with respect thereto is necessary to protect the interests of the Note Holders. In no event shall the Lead Securitization
Note Holder (or Master Servicer or Special Servicer, acting on its behalf) be obligated at any time to follow or take any alternative
actions recommended by the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative).

In addition to the non-binding
consultation rights provided in the immediately preceding paragraph, the Non-Controlling Note Holder 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 Note Holder (or
the Master Servicer or the Special Servicer acting on its behalf), upon reasonable notice and at times reasonably acceptable to the Master
Servicer or the Special Servicer, as applicable, in which servicing issues related to the Mortgage Loan are discussed.

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

Anything herein or in the
Lead Securitization Servicing Agreement to the contrary notwithstanding, in the event that one of the Notes is included in a REMIC and
the other is not, such other Note Holder shall not be required to reimburse such Note Holder or any other Person for payment of (i) any
taxes imposed on such REMIC, (ii) any costs or expenses relating to the administration of such REMIC or to any determination respecting
the amount, payment or avoidance of any tax under such REMIC or (iii) any advances for any of the foregoing or any interest thereon or
for deficits in other items of disbursement or income resulting from the use of

    	 	 31	 

     

    

funds for payment of any such taxes, costs
or expenses or advances, nor shall any disbursement or payment otherwise distributable to the other Note Holder be reduced to offset or
make-up any such payment or deficit.

Section 6.        Appointment
of Controlling Note Holder Representative and Non-Controlling Note Holder Representative.

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

(b)       Neither
the Controlling Note Holder Representative nor the Controlling Note Holder will have any liability to the other Note Holder or any other
Person for any action taken, or for refraining from the taking of any action or the giving of any consent or the failure to give any consent
pursuant to this Agreement or the Lead Securitization Servicing Agreement, or errors in judgment, absent any loss, liability or expense
incurred by reason of its willful misfeasance, bad faith or gross negligence. The Note Holders agree that the Controlling Note Holder
Representative and the Controlling Note Holder (whether acting in place of the Controlling Note Holder Representative when no Controlling
Note Holder Representative shall have been appointed hereunder or otherwise exercising any right, power or privilege granted to the Controlling
Note Holder hereunder) may take or refrain from taking actions, or give or refrain from giving consents, that favor the interests of one
Note Holder over the other Note Holder, and that the Controlling Note Holder Representative may have special relationships and interests
that

    	 	 32	 

     

    

conflict with the interests of a Note Holder
and, absent willful misfeasance, bad faith or gross negligence on the part of the Controlling Note Holder Representative or the Controlling
Note Holder, as the case may be, agree to take no action against the Controlling Note Holder Representative, the Controlling Note Holder
or any of their respective officers, directors, employees, principals or agents as a result of such special relationships or interests,
and that neither the Controlling Note Holder Representative nor the Controlling Note Holder will be deemed to have been grossly negligent
or reckless, or to have acted in bad faith or engaged in willful misfeasance or to have recklessly disregarded any exercise of its rights
by reason of its having acted or refrained from acting, or having given any consent or having failed to give any consent, solely in the
interests of any Note Holder.

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

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

    	 	 33	 

     

    

Agreement, then the initial Special Servicer
designated in the Lead Securitization Servicing Agreement shall serve as the initial Special Servicer but this shall not limit the right
of the Controlling Note Holder (or its Controlling Note Holder Representative) to designate a replacement Special Servicer for the Mortgage
Loan as aforesaid. If a Servicer Termination Event on the part of the Special Servicer has occurred that affects the Non-Controlling Note
Holder, the Non-Controlling Note Holder shall have the right to direct the Trustee (or at any time that the Mortgage Loan is no longer
included in a Securitization Trust, the Controlling Note Holder) to terminate the Special Servicer under the Lead Securitization Servicing
Agreement (or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement,
the successor servicing agreement pursuant to which the Mortgage Loan is being serviced) solely with respect to the Mortgage Loan pursuant
to and in accordance with the terms of the Lead Securitization Servicing Agreement (or at any time that the Mortgage Loan is no longer
subject to the provisions of the Lead Securitization Servicing Agreement, the successor servicing agreement pursuant to which the Mortgage
Loan is being serviced). The Controlling Note Holder and the Non-Controlling Note Holder acknowledge and agree that any successor special
servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that was terminated for cause at the Non-Controlling
Note Holder’s direction cannot at any time be the person (or an Affiliate thereof) that was so terminated without the prior written
consent of the Non-Controlling Note Holder. The Non-Controlling Note Holder shall be solely responsible for reimbursing the Trustee’s
or the Controlling Note Holder’s, as applicable, costs and expenses, if not paid within a reasonable time by the terminated special
servicer and, in the case of the Trustee, that would otherwise be reimbursed to the Trustee from amounts on deposit in the Collection
Account.

Section 8.        Payment
Procedure.

(a)       The
Lead Securitization Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms of the Lead
Securitization Servicing Agreement, shall deposit or cause to be deposited all payments allocable to the Notes to the Loan Combination
Custodial Account pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder
(or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two (2) Business Days after
receipt of properly identified funds by the Lead Securitization Note Holder (or the Master Servicer acting on its behalf) from or on behalf
of the Mortgage Loan Borrower.

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

    	 	 34	 

     

    

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

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

Section 9.        Limitation
on Liability of the Note Holders. Each Initial Note Holder shall have no liability to the other Note Holder with respect to its Note
except with respect to losses actually suffered due to the gross negligence, willful misconduct or breach of this Agreement on the part
of such Initial Note Holder.

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

Section 10.        Bankruptcy.
Subject to Section 5(d), each Note Holder hereby covenants and agrees that only the Servicer has the right to institute, file,
commence, acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any Person in any such petition or otherwise invoke
or cause any other Person to invoke an Insolvency Proceeding with respect to or against the Mortgage Loan Borrower or seek to appoint
a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official with respect to the Mortgage Loan Borrower
or all or any part of its property or assets or ordering the winding-up or liquidation of the affairs of the Mortgage Loan Borrower. Each
Note Holder further agrees that only the Servicer, and not the Non-Lead Securitization Note Holder or any of its representatives, 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

    	 	 35	 

     

    

Code or in any other Insolvency Proceeding.
The Note Holders hereby appoint the Servicer as their agent, and grant to the Servicer an irrevocable power of attorney coupled with an
interest, and their proxy, for the purpose of exercising any and all rights and taking any and all actions available to the Non-Lead Securitization
Note Holder in connection with any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency
Proceeding, including, without limitation, the right to file and/or prosecute any claim, vote to accept or reject a plan, to make any
election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage Loan, and to file a motion to modify, lift or terminate
the automatic stay with respect to the Mortgage Loan. The Note Holders hereby agree that, upon the request of the Servicer, the Non-Lead
Securitization Note Holder shall execute, acknowledge and deliver to the Servicer all and every such further deeds, conveyances and instruments
as the Servicer may reasonably request for the better assuring and evidencing of the foregoing appointment and grant. All actions taken
by the Servicer in connection with any Insolvency Proceeding are subject to and must be in accordance with the Servicing Standard.

Section 11.        Representations
of the Note Holders. Each Note Holder represents and warrants that the execution, delivery and performance of this Agreement is within
its corporate powers, has been duly authorized by all necessary corporate action, and does not contravene such Note Holder’s charter
or any law or contractual restriction binding upon such Note Holder, and that this Agreement is the legal, valid and binding obligation
of such Note Holder enforceable against such Note Holder in accordance with its terms, except as such enforcement may be limited by bankruptcy,
insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally, and by general
principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), and except that the
enforcement of rights with respect to indemnification and contribution obligations may be limited by applicable law. Each Note Holder
represents and warrants that it is duly organized, validly existing, in good standing and in possession of all licenses and authorizations
necessary to carry on its business. Each Note Holder represents and warrants that (a) this Agreement has been duly executed and delivered
by such Note Holder, (b) to such Note Holder’s actual knowledge, all consents, approvals, authorizations, orders or filings of or
with any court or governmental agency or body, if any, required for the execution, delivery and performance of this Agreement by such
Note Holder have been obtained or made and (c) to such Note Holder’s actual knowledge, there is no pending action, suit or proceeding,
arbitration or governmental investigation against such Note Holder, an adverse outcome of which would materially and adversely affect
its performance under this Agreement.

Section 12.        Independent
Analysis of Each Note Holder. Each Note Holder acknowledges that, except for the representations made in Section 11, it has,
independently and without reliance upon any other Note Holders and based on such documents and information as such Note Holder has deemed
appropriate, made its own credit analysis and decision to purchase its respective Note. Each Note Holder hereby acknowledges that the
other Note Holders shall have no responsibility for (i) the collectability of the Mortgage Loan, (ii) the validity, enforceability or
legal effect of any of the Mortgage Loan Documents or the title insurance policy or policies or any survey furnished or to be furnished
in connection with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of the lien created or to be
created by the Mortgage Loan Documents, or (iv) the financial condition of the Mortgage Loan Borrower. Each Note Holder assumes all risk
of loss in connection with its respective Note for reasons other than gross

    	 	 36	 

     

    

negligence, willful misconduct or breach of
this Agreement by any other Note Holder or gross negligence, willful misconduct or bad faith by any Servicer.

Section 13.        No Creation
of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant hereto shall be deemed
to constitute the relationship created hereby between the Note Holders as a partnership, association, joint venture or other entity. Neither
Note Holder shall have any obligation whatsoever to offer to the other Note Holder the opportunity to purchase a participation interest
in any future loans originated by such Note Holder or its Affiliates and if either Note Holder chooses to offer to the other Note Holder
the opportunity to purchase a participation interest in any future mortgage loans originated by such Note Holder or its Affiliates, such
offer shall be at such purchase price and interest rate as such Note Holder chooses, in its sole and absolute discretion. Neither Note
Holder shall have any obligation whatsoever to purchase from the other Note Holder a participation interest in any future loans originated
by such Note Holder or its Affiliates.

Section 14.        Other Business
Activities of the Note Holders. Each Note Holder acknowledges that the other Note Holder or its Affiliates may make loans or otherwise
extend credit to, and generally engage in any kind of business with, the Mortgage Loan Borrower or any Affiliate thereof, any entity that
is a holder of debt secured by direct or indirect ownership interests in the Mortgage Loan Borrower or any entity that is a holder of
a preferred equity interest in the Mortgage Loan Borrower (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 15.        Sale of
the Notes.

(a)       Each
Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate, hypothecate, contribute, encumber or otherwise dispose
of all or any portion of its respective Note (a “Transfer”) except to a Qualified Institutional Lender. Promptly after
the Transfer, the non-transferring Note Holder shall be provided with (x) a representation from a transferee or the applicable Note Holder
certifying that such transferee is a Qualified Institutional Lender (except in the case of a Transfer in accordance with the immediately
following sentence) and (y) a copy of the assignment and assumption agreement referred to in Section 16 (unless the transferee
is a Securitization Trust and the related pooling and servicing agreement requires the parties thereto to comply with this Agreement).
If a Note Holder intends to Transfer its respective Note, or any portion thereof, to an entity that is not a Qualified Institutional Lender,
it must first obtain the consent of the non-transferring Note Holder and, if such non-transferring Note Holder’s Note is held in
a Securitization Trust, a confirmation in writing from each Rating Agency that such Transfer will not result in a qualification, downgrade
or withdrawal of its then current rating of the securities issued pursuant to the related Securitization. Notwithstanding the foregoing,
without the non-transferring Note Holder’s prior consent (which will not be unreasonably withheld), and, if such non-transferring
Note Holder’s Note is held in a Securitization Trust, without a confirmation in writing from each Rating Agency that such Transfer
will not result in a qualification, downgrade or withdrawal of its then current rating of the securities issued pursuant to the related
Securitization, no Note Holder shall Transfer all or any portion of its Note (or a participation interest in such Note) to the Mortgage
Loan Borrower or a Mortgage Loan Borrower

    	 	 37	 

     

    

Related Party and any such Transfer shall be
absolutely null and void and shall vest no rights in the purported transferee. The transferring Note Holder agrees that it shall pay the
expenses of the non-transferring Note Holder (including all expenses of the Master Servicer, the Special Servicer and the Trustee) and
all expenses relating to the confirmation from the Rating Agencies in connection with any such Transfer. Notwithstanding the foregoing,
each Note Holder shall have the right, without the need to obtain the consent of the other Note Holder, the Rating Agencies or any other
Person, to Transfer 49% or less (in the aggregate) of its beneficial interest in a Note. None of the provisions of this Section 15(a)
shall apply in the case of (1) a sale of all the Notes in accordance with the terms and conditions of the Lead Securitization Servicing
Agreement or (2) a transfer by the Special Servicer, in accordance with the terms and conditions of the Lead Securitization Servicing
Agreement, of the Mortgage Loan or the Mortgaged Property, upon the Mortgage Loan becoming a Defaulted Mortgage Loan, to a single member
limited liability or limited partnership, 100% of the equity interest in which is owned directly or indirectly, through one or more single
member limited liability companies or limited partnerships, by the Lead Securitization Trust.

For the purposes of this
Agreement, if any Rating Agency shall, in writing, waive, decline or refuse to review or otherwise engage any request for a confirmation
hereunder from such Rating Agency that a proposed action will not result in a qualification, downgrade or withdrawal of its then current
rating of the securities issued pursuant to the related Securitization, such waiver, declination, or refusal shall be deemed to eliminate,
for such request only, the condition that such confirmation by such Rating Agency (only) be obtained for purposes of this Agreement. For
purposes of clarity, any such waiver, declination or refusal to review or otherwise engage in any request for such confirmation hereunder
shall not be deemed a waiver, declination or refusal to review or otherwise engage in any subsequent request for such Rating Agency confirmation
hereunder and the condition for such Rating Agency confirmation pursuant to this Agreement for any subsequent request shall apply regardless
of any previous waiver, declination or refusal to review or otherwise engage in such prior request.

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

(c)       Notwithstanding
any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any entity (other than the Mortgage
Loan Borrower or any Affiliate thereof) which has extended a credit facility to such Note Holder and that is either a Qualified Institutional
Lender or a financial institution whose long-term unsecured debt is rated at least “A” (or the equivalent) or better by each
Rating Agency (a “Note Pledgee”), on terms and conditions set forth in this Section 15(c), it being further
agreed that a financing provided by a Note Pledgee to a Note Holder or any person which Controls such Note that is secured by its Note
and is structured as a repurchase arrangement, shall qualify as a “Pledge” hereunder, provided that a Note Pledgee
which is not a Qualified Institutional Lender may not take title to the pledged Note without a Rating Agency Confirmation. Upon written
notice by the applicable Note Holder to the other

    	 	 38	 

     

    

Note Holder and any Servicer that a Pledge
has been effected (including the name and address of the applicable Note Pledgee), the other Note Holder agrees to acknowledge receipt
of such notice and thereafter agrees: (i) to give such Note Pledgee written notice of any default by the pledging Note Holder in respect
of its obligations under this Agreement of which default such Note Holder has actual knowledge; (ii) to allow such Note Pledgee a period
of ten (10) days to cure a default by the pledging Note Holder in respect of its obligations to the other Note Holder hereunder, but such
Note Pledgee shall not be obligated to cure any such default; (iii) that no amendment, modification, waiver or termination of this Agreement
shall be effective against such Note Pledgee without the written consent of such Note Pledgee, which consent shall not be unreasonably
withheld, conditioned or delayed; (iv) that such other Note Holder shall give to such Note Pledgee copies of any notice of default under
this Agreement simultaneously with the giving of same to the pledging Note Holder; (v) that such other Note Holder shall deliver to Note
Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request, provided that any such certificate(s) shall be in
a form reasonably satisfactory to such other Note Holder; and (vi) that, upon written notice (a “Redirection Notice”)
to the other Note Holder and any Servicer by such Note Pledgee that the pledging Note Holder is in default, beyond any applicable cure
periods, under the pledging Note Holder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the
pledging Note Holder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Note Holder), and until such
Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Note
Holder or Servicer would otherwise be obligated to pay to the pledging Note Holder from time to time pursuant to this Agreement or the
Lead Securitization Servicing Agreement. Any pledging Note Holder hereby unconditionally and absolutely releases the other Note Holder
and any Servicer from any liability to the pledging Note Holder on account of such other Note Holder’s or Servicer’s compliance
with any Redirection Notice believed by any Servicer or such other Note Holder to have been delivered by a Note Pledgee. Note Pledgee
shall be permitted to exercise fully its rights and remedies against the pledging Note Holder to such Note Pledgee (and accept an assignment
in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement. In such event, the Note Holders and
any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage Loan Borrower or any Affiliate thereof which
is also a Qualified Institutional Lender at any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure),
and its successor and assigns, as the successor to the pledging Note Holder’s rights, remedies and obligations under this Agreement,
and any such Note Pledgee or Qualified Institutional Lender shall assume in writing the obligations of the pledging Note Holder hereunder
accruing from and after such Transfer (i.e., realization upon the collateral by such Note Pledgee) and agrees to be bound by the
terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 15(c) shall remain effective as to any
Note Holder (and any Servicer) unless and until such Note Pledgee shall have notified any such Note Holder (and any Servicer, as applicable)
in writing that its interest in the pledged Note has terminated.

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

    	 	 39	 

     

    

notwithstanding that such Conduit is not a
Qualified Institutional Lender, if the following conditions are satisfied:

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

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

(iii)       Such
Note Holder pledges its interest in its Note to the Conduit as collateral for the Conduit Inventory Loan;

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

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

Section 16.        Registration
of the Notes and Each Note Holder. The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”)
for the registration and transfer of the Notes. The Agent shall serve as the initial note registrar and the Agent hereby accepts such
appointment. The names and addresses of the holders of the Notes and the names and addresses of any transferee of any Note of which the
Agent has received notice, in the form of a copy of the assignment and assumption agreement referred to in this Section 16, shall
be registered in the Note Register. The Person in whose name a Note is so registered shall be deemed and treated as the sole owner and
holder thereof for all purposes of this Agreement. Upon request of a Note Holder, the Agent shall provide such party with the names and
addresses of the other Note Holder. To the extent the Trustee or another party is appointed as Agent hereunder, each Note Holder hereby
designates such person as its agent under this Section 16 solely for purposes of maintaining the Note Register.

In connection with any Transfer
of a Note (but excluding any Pledgee unless and until it realizes on its Pledge), a transferee shall execute an assignment and assumption
agreement (unless the transferee is a Securitization Trust and the related pooling and servicing agreement requires the parties
thereto to comply with this Agreement), whereby such transferee assumes all of the obligations of the applicable Note Holder hereunder
with respect to such Note thereafter accruing and agrees to be bound by the terms of this Agreement, including the applicable restriction
on Transfers set forth in Section 15, from and after the date of such assignment. No transfer of a Note may be made unless it is
registered on the Note Register, and the Agent shall not recognize any attempted or purported transfer of any Note in violation of the
provisions of

    	 	 40	 

     

    

Section 15 and this Section 16.
Any such purported transfer shall be absolutely null and void and shall vest no rights in the purported transferee. Each Note Holder desiring
to effect such transfer shall, and does hereby agree to, indemnify the Agent and the other Note Holder against any liability that may
result if the transfer is not made in accordance with the provisions of this Agreement.

Section 17.        Governing
Law; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, THE RELATIONSHIP
OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND OBLIGATIONS OF THE PARTIES TO THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE
CHOICE OF LAW RULES THEREOF (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW). EACH OF THE PARTIES HEREBY IRREVOCABLY
WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

Section 18.        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 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 19.        Modifications.
This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by each Note Holder. Additionally,
for as

    	 	 41	 

     

    

long as any Note is contained in a Securitization
Trust, the Note Holders shall not amend or modify this Agreement without first receiving a written confirmation from each Rating Agency
that such amendment or modification will not result in a qualification, withdrawal or downgrade of its then current ratings of the securities
issued in connection with a Securitization; provided that no such confirmation from the Rating Agencies shall be required in connection
with a modification (i) to cure any ambiguity, to correct or supplement any provisions herein that may be defective or inconsistent with
any other provisions herein or with the Lead Securitization Servicing Agreement, or (ii) to make other provisions with respect to matters
or questions arising under this Agreement, which shall not be inconsistent with the provisions of this Agreement.

Section 20.        Successors
and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their
respective successors and assigns. Except as provided herein, including without limitation, with respect to the Trustee, the Certificate
Administrator, the Master Servicer, the Special Servicer, the Non-Lead Master Servicer, the Non-Lead Special Servicer and the Non-Lead
Trustee, none of the provisions of this Agreement shall be for the benefit of or enforceable by any Person not a party hereto. Subject
to Section 15 and Section 16, each Note Holder may assign or delegate its rights or obligations under this Agreement. Upon
any such assignment, the assignee shall be entitled to all rights and benefits of the applicable Note Holder hereunder.

Section 21.        Counterparts.
This Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original and all of which when
taken together shall constitute one and the same instrument, and the words “executed,” “signed,” “signature,”
and words of like import as used above and elsewhere in this Agreement or in any other certificate, agreement or document related to this
transaction shall include, in addition to manually executed signatures, images of manually executed signatures transmitted by facsimile
or other electronic format (including, without limitation, “pdf”, “tif” or “jpg”) and other electronic
signatures (including, without limitation, any electronic sound, symbol, or process, attached to or logically associated with a contract
or other record and executed or adopted by a person with the intent to sign the record). The use of electronic signatures and electronic
records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic
means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping
system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce
Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any state law
based on the Uniform Electronic Transactions Act or the Uniform Commercial Code.

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

Section 23.        Severability.
Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be prohibited by or invalid under applicable laws, such provision

    	 	 42	 

     

    

shall be ineffective to the extent of such
prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

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

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

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

(c)       Each
Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) represents (for the benefit of the Mortgage
Loan Borrower) that it is not a Non-Exempt Person and that neither the Lead Securitization Note Holder nor the Mortgage Loan Borrower
is obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise pursuant to this
Agreement. Contemporaneously with the execution of this Agreement and from time to time as necessary during the term of this Agreement,
each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) shall deliver to the Lead Securitization
Note Holder or Servicer, as applicable, evidence satisfactory to the Lead Securitization Note Holder substantiating that such Note Holder
is not a Non-Exempt Person and that the Lead Securitization Note Holder is not obligated under applicable law to withhold Taxes on sums
paid to it with respect to the Mortgage Loan or otherwise under

    	 	 43	 

     

    

this Agreement. Without limiting the effect
of the foregoing, (i) if a Note Holder is created or organized under the laws of the United States, any state thereof or the District
of Columbia, it shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization Note Holder an Internal
Revenue Service Form W-9 and (ii) if a Note Holder is not created or organized under the laws of the United States, any state thereof
or the District of Columbia, and if the payment of interest or other amounts by the Mortgage Loan Borrower is treated for United States
income tax purposes as derived in whole or part from sources within the United States, such Note Holder shall satisfy the requirements
of the preceding sentence by furnishing to the Lead Securitization Note Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with
appropriate attachments) or Form W-8BEN, or successor forms, as may be required from time to time, duly executed by such Note Holder,
as evidence of such Note Holder’s exemption from the withholding of United States tax with respect thereto. The Lead Securitization
Note Holder shall not be obligated to make any payment hereunder with respect to the Non-Lead Securitization Note or otherwise until the
Non-Lead Securitization Note Holder shall have furnished to the Lead Securitization Note Holder requested forms, certificates, statements
or documents.

Section 26.        Custody
of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Non-Lead Securitization Note) (a)
prior to the Lead Securitization will be held by the Initial Agent (or a custodian on its behalf) and (b) after the Lead Securitization,
will be held by the Lead Securitization Note Holder (in the name of the Trustee and held by a duly appointed custodian therefor in accordance
with the Lead Securitization Servicing Agreement), in each case, on behalf of the registered holders of the Notes.

Section 27.        Cooperation
in Securitization.

(a)       Each
Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization. In connection
with a Securitization and subject to the terms of the preceding sentence, at the request of the Lead Securitization Note Holder, the Non-Lead
Securitization Note Holder shall use reasonable efforts, at the Lead Securitization Note Holder’s expense, to satisfy, and to cooperate
with the Lead Securitization Note Holder in attempting to cause the Mortgage Loan Borrower to satisfy, the market standards to which the
Lead Securitization Note Holder customarily adheres or that may be reasonably required in the marketplace or by the Rating Agencies in
connection with the Securitization, including, entering into (or consenting to, as applicable) any modifications to this Agreement or
the Mortgage Loan Documents and to cooperate with the Lead Securitization Note Holder in attempting to cause the Mortgage Loan Borrower
to execute such modifications to the Mortgage Loan Documents, in any such case, as may be reasonably requested by the Rating Agencies
to effect the Securitization; provided, however, that either in connection with the Lead Securitization or otherwise at
any time prior to the Lead Securitization, the Non-Lead Securitization Note Holder shall not be required to modify or amend this Agreement
or any Mortgage Loan Documents (or consent to such modification, as applicable) in connection therewith, if such modification or amendment
would (i) change the interest allocable to, or the amount of any payments due to or priority of such payments to, the Non-Lead Securitization
Note Holder or (ii) materially increase the Non-Lead Securitization Note Holder’s obligations or materially decrease the Non-Lead
Securitization Note Holder’s rights, remedies or protections. In connection with the Lead Securitization, the Non-Lead Securitization
Note Holder agrees to provide for inclusion in any disclosure document relating to the Lead Securitization such information concerning
the Non-Lead Securitization Note

    	 	 44	 

     

    

Holder and the Non-Lead Securitization Note
as the Lead Securitization Note Holder reasonably determines to be necessary or appropriate, and the Non-Lead Securitization Note Holder
covenants and agrees that it shall, at the Lead Securitization Note Holder’s expense, cooperate with the reasonable requests of
each Rating Agency and the Lead Securitization Note Holder in connection with the Lead Securitization (including, without limitation,
reasonably cooperating with the Lead Securitization Noteholder (without any obligation to make additional representations and warranties)
to enable the Lead Securitization Noteholder to make all necessary certifications and deliver all necessary opinions (including customary
securities law opinions) in connection with the Mortgage Loan and the Lead Securitization), as well as in connection with all other matters
and the preparation of any offering documents thereof and to review and respond reasonably promptly with respect to any information relating
to the Non-Lead Securitization Note Holder and the Non-Lead Securitization Note in any Securitization document. The Non-Lead Securitization
Note Holder acknowledges that the information provided by it to the Lead Securitization Note Holder may be incorporated into the offering
documents for the Lead Securitization. The Lead Securitization Note Holder and each Rating Agency shall be entitled to rely on the information
supplied by, or on behalf of, the Non-Lead Securitization Note Holder. The Lead Securitization Note Holder will reasonably cooperate with
the Non-Lead Securitization Note Holder by providing all information reasonably requested that is in the Lead Securitization Note Holder’s
possession in connection with the Non-Lead Securitization Note Holder’s preparation of disclosure materials in connection with a
Securitization.

Upon request, the Lead Securitization
Note Holder shall deliver to the Non-Lead Securitization Note Holder drafts of the preliminary and final Lead Securitization offering
memoranda, prospectus supplement, free writing prospectus and any other disclosure documents and the Lead Securitization Servicing Agreement
and provide reasonable opportunity to review and comment on such documents.

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

Prior to Securitization of
the Non-Lead Securitization Note (including any New Notes), all notices, reports, information or other deliverables required to be delivered
to the Non-Lead Securitization Note Holder or the Non-Controlling Note Holder pursuant to this Agreement or the Lead Securitization Servicing
Agreement by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) only need to be
delivered to the Non-Controlling Note Holder Representative and, when so delivered to the Non-Controlling Note Holder Representative,
the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have satisfied
its delivery obligations with respect to such items hereunder or under the Lead Securitization Servicing Agreement. Following Securitization
of the Non-Lead Securitization Note, all notices, reports, information or other deliverables required to be delivered to the Non-Lead
Securitization Note Holder or the Non-

    	 	 45	 

     

    

Controlling Note Holder pursuant to this Agreement
or the Lead Securitization Servicing Agreement by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer
acting on its behalf) shall be delivered to the Non-Lead Master Servicer and the Non-Lead Special Servicer (who then may forward such
items to the party entitled to receive such items as and to the extent provided in the Non-Lead Securitization Servicing Agreement) and,
when so delivered to the Non-Lead Master Servicer and the Non-Lead Special Servicer, the Lead Securitization Note Holder (or the Master
Servicer or the Special Servicer acting on its behalf) shall be deemed to have satisfied its delivery obligations with respect to such
items hereunder or under the Lead Securitization Servicing Agreement.

Section 29.        Broker.
Each Note Holder represents to each other that no broker was responsible for bringing about this transaction.

Section 30.        Certain
Matters Affecting the Agent.

(a)       The
Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any officer’s certificate or
assignment and assumption agreement delivered to the Agent pursuant to Section 15 and Section 16;

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

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

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

(e)       The
Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate or assignment and
assumption agreement delivered to the Agent pursuant to Section 16;

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

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

Section 31.        Reserved.

Section 32.        Resignation
of Agent. The Agent may resign at any time on ten (10) days’ prior notice, so long as a successor Agent, reasonably satisfactory
to the Note Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a Securitization is

    	 	 46	 

     

    

satisfactory to the Note Holders), has agreed
to be bound by this Agreement and perform the duties of the Agent hereunder. The Initial Agent may transfer its rights and obligations
to a Servicer, the Trustee or the Certificate Administrator, as successor Agent, at any time without the consent of any Note Holder. Notwithstanding
the foregoing, the Note Holders hereby agree that, simultaneously with the closing of the Lead Securitization, the Master Servicer shall
be deemed to have been automatically appointed as the successor Agent under this Agreement in place of the Initial Agent or any successor
thereto prior to such Securitization without any further notice or other action. The termination or resignation of such Master Servicer,
as Master Servicer under the Lead Securitization Servicing Agreement, shall be deemed a termination or resignation of such Master Servicer
as Agent under this Agreement, and any successor master servicer shall be deemed to have been automatically appointed as the successor
Agent under this Agreement in place thereof without any further notice or other action.

Section 33.        Resizing.
Notwithstanding any other provision of this Agreement, for so long as CREFI or an affiliate thereof (a “CREFI Entity”)
is the owner of the Non-Lead Securitization Note (the “Owned Note”), such CREFI Entity shall have the right, subject
to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated notes or additional notes
(in either case, “New Notes”) reallocating the principal of the Owned Note to such New Notes or severing the Owned
Note into one or more further “component” notes in the aggregate principal amount equal to the then outstanding principal
balance of the Owned Note provided that (i) the aggregate principal balance of all outstanding New Notes following such amendments is
no greater than the aggregate principal of the Owned Note prior to such amendments, (ii) all Notes continue to have the same weighted
average interest rate as the Notes prior to such amendments, (iii) all Notes pay pro rata and on a pari passu basis (including
after a default and in connection with a condemnation or prepayment) and such reallocated or component notes shall be automatically subject
to the terms of this Agreement, and (iv) the CREFI Entity holding the New Notes shall notify the Lead Securitization Note Holder, the
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations and principal
amounts. Except for the foregoing reallocation or severance and for modifications pursuant to the Lead Securitization Servicing Agreement
(as discussed in Section 5), no Note may be modified or amended without the consent of its holder and the consent of the other
Note Holder. In connection with the foregoing (provided the conditions set forth in (i) through (iv) above are satisfied, as certified
by the CREFI Entity, on which certification the Master Servicer can rely), the Master Servicer is hereby authorized and directed to execute
amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of the Note Holders, as applicable, solely for the
purpose of reflecting such reallocation of principal (which may include the amendment or addition of applicable defined terms to reflect
the New Notes) or such severing of the Owned Note. If an Owned Note is severed into “component” notes, such component notes
shall each have the same rights as the related Owned Note. For the avoidance of doubt, Rating Agency Confirmation shall not be required
for any amendments to this Agreement required to facilitate the terms of this Section 33.

[SIGNATURE PAGE FOLLOWS]

    	 	 47	 

     

    

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

 

	 	CITI REAL ESTATE FUNDING INC., as Initial Note A-1 Holder
	 	 	 
	 	By:  	 /s/ Richard Simpson
	 	 	Name:  Richard Simpson
	 	 	Title:    Vice President
	 	 	 
	 	CITI REAL ESTATE FUNDING INC., as Initial Note A-2 Holder
	 	 	 
	 	By:  	 /s/ Richard Simpson
	 	 	Name:  Richard Simpson
	 	 	Title:    Vice President

 

 

 

(Co-Lender Agreement – ExchangeRight Net Leased
Portfolio #48)

 

 

    	 	 	 

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

Description of Mortgage Loan

	Mortgage Loan Borrower:	ExchangeRight Net-Leased Portfolio 48 DST
	Date of Mortgage Loan:	June 30, 2021
	Original Principal Amount of Mortgage Loan:	$47,035,000
	Principal Amount of Mortgage Loan as of the date hereof:	$47,035,000
	Date of Note A-1 and Note A-2	July 2, 2021
	Initial Note A-1 Principal Balance:	$27,000,000
	Initial Note A-2 Principal Balance:	$20,035,000
	Location of Mortgaged Property:	Various
	Initial Maturity Date:	July 1, 2031

 

    	 	 A-1	 

     

    

EXHIBIT B

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

Citi Real Estate Funding Inc.

388 Greenwich Street, 6th Floor

New York, New York 10013

Attention: Richard Simpson

Facsimile number: (646) 328-2943

 

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

 

with copies to:

 

Citi Real Estate Funding Inc.

390 Greenwich Street, 5th Floor

New York, New York 10013

Attention: Raul Orozco

Facsimile number: (347) 394-0898

 

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

 

and

 

Citi Real Estate Funding Inc.

388 Greenwich Street, 17th Floor

New York, New York 10013

Attention: Ryan M. O’Connor

Facsimile number: (646) 862-8988

 

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

 

 

    	 	 B-1	 

     

    

EXHIBIT C

PERMITTED FUND MANAGERS

 

		1.	Westbrook Partners

		2.	DLJ Real Estate Capital Partners

		3.	iStar Financial Inc.

		4.	Capital Trust, Inc.

		5.	Lend-Lease Real Estate Investments

		6.	Archon Capital, L.P.

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

		8.	The Blackstone Group International Ltd.

		9.	Apollo Real Estate Advisors

		10.	Colony Capital, Inc.

		11.	Praedium Group

		12.	J.E. Robert Companies

		13.	Fortress Investment Group LLC

		14.	Lonestar Opportunity Fund

		15.	Clarion Partners

		16.	Walton Street Capital, LLC

		17.	Starwood Financial Trust

		18.	BlackRock, Inc.

		19.	Rialto Capital Management, LLC

		20.	Rialto Capital Advisors, LLC

21. Raith Capital Partners, LLC

		22.	Eightfold Real Estate Capital, L.P.

		23.	Perella Weinberg Partners

		24.	Square Mile Capital Management LLC

 

 

 

    	 	 C-1Exhibit 4.11

 

EXECUTION VERSION

 

AGREEMENT BETWEEN NOTEHOLDERS

Dated as of August 19, 2021

by and between

DBR
Investments Co. Limited

(Initial Note A-1 Holder),

DBR
Investments Co. Limited

(Initial Note A-2 Holder)

DBR
Investments Co. Limited

(Initial Note A-3 Holder),

DBR
Investments Co. Limited

(Initial Note A-4 Holder),

and

DBR
Investments Co. Limited

(Initial Note A-5 Holder)

 

2 Washington

 

     

     

    

THIS AGREEMENT BETWEEN NOTEHOLDERS
(“Agreement”), dated as of August 19, 2021, is made by and between DBR Investments
Co. Limited (“DBRI” 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”),
DBRI (together with its successors and assigns in interest, in its capacity as initial owner of Note A-2, the “Initial Note A-2
Holder”), DBRI (together with its successors and assigns in interest, in its capacity as initial owner of Note A-3, the “Initial
Note A-3 Holder”), DBRI (together with its successors and assigns in interest, in its capacity as initial owner of Note A-4,
the “Initial Note A-4 Holder”) and DBRI (together with its successors and assigns in interest, in its capacity as initial
owner of Note A-5, the “Initial Note A-5 Holder”)

W I T N E S S E T H:

WHEREAS, pursuant to the
Mortgage Loan Agreement (as defined herein) DBRI originated a certain loan described on the schedule attached hereto as Exhibit A
(the “Mortgage Loan Schedule”) (the “Mortgage Loan”) to the mortgage loan borrower(s) listed on
the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which is evidenced by, inter alia, one promissory
note in the original principal amount of $50,000,000 (“Note A-1”) made by the Mortgage Loan Borrower in favor of the
Initial Note A-1 Holder, one promissory note in the original principal amount of $30,000,000 (“Note A-2”) made by the
Mortgage Loan Borrower in favor of the Initial Note A-2 Holder, one promissory note in the original principal amount of $25,000,000 (“Note
A-3”) made by the Mortgage Loan Borrower in favor of the Initial Note A-3 Holder, one promissory note in the original principal
amount of $16,500,000 (“Note A-4”) and one promissory note in the original principal amount of $10,000,000 (“Note
A-5” and together with Note A-1, Note A-2, Note A-3 and Note A-4, the “Notes”) made by the Mortgage Loan
Borrower in favor of the Initial Note A-5 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 and Note A-5, 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 First Securitization 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.

    2 

     

    

“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.

    3 

     

    

“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 Morningstar”
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 (or such other
analogous term used in the Mortgage Loan Documents).

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

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

“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.

    4 

     

    

“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.

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

    5 

     

    

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

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

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

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

“Lead Securitization
Note” shall mean any Note included in the Lead Securitization.

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

“Lead Securitization
Servicing Agreement” shall mean the pooling and servicing agreement entered into in connection with the Lead Securitization.

“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.

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

    6 

     

    

“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 July 16, 2021, between the Mortgage Loan Borrower and DBRI, as lender, 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.

“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.

    7 

     

    

“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 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.

    8 

     

    

“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 and the Note A-5 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.

“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

    9 

     

    

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-2 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.

“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.

    10 

     

    

“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 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.

“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 and the Note A-5 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).

    11 

     

    

“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 and the Note A-5 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

(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

    12 

     

    

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 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

    13 

     

    

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

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

“Rating Agencies”
shall mean any of (a) S&P, (b) Moody’s, (c) Fitch, (d) DBRS Morningstar, (e) Morningstar, (f) KBRA 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 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.

    14 

     

    

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

“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

    15 

     

    

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.

“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.

    16 

     

    

“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.

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

“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.

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

    17 

     

    

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 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-

    18 

     

    

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 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

    19 

     

    

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.

(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;

    20 

     

    

(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 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

    21 

     

    

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;

(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 X (or other article governing the Lead Securitization Trust’s Exchange
Act reporting requirements) 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 X (or other article governing the
Lead Securitization Trust’s Exchange Act reporting requirements) 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

    22 

     

    

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 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

    23 

     

    

and coordination) to the same extent
as such party is required to cooperate with the Depositor under Article X (or other article governing the Lead Securitization Trust’s
Exchange Act reporting requirements) 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 X (or other article governing the Lead Securitization Trust’s Exchange Act reporting requirements) 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 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

    24 

     

    

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 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

    25 

     

    

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 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

    26 

     

    

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 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

    27 

     

    

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 “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

    28 

     

    

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.

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 (including 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

    29 

     

    

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 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

    30 

     

    

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 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

    31 

     

    

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 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

    32 

     

    

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 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)  
[Reserved.]

(h)  
[Reserved.]

(i)    
[Reserved.]

    33 

     

    

(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
of 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. Any such sale of all of the A Notes is subject to the satisfaction of the following:

(i)           
Each Non-Lead Noteholder has provided written consent to such sale; or

(ii)           
The Special Servicer has delivered the following notices and information to each Non-Lead Noteholder:

(A) at least 15 Business
Days prior written notice of any decision to attempt to sell all of the A Notes;

(B) 
at least 10 days prior to the proposed sale date, a copy of each bid package (together with any amendments to such bid packages)
received by the Special Servicer in connection with any such proposed sale;

(C) 
at least 10 days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and any documents
in the Servicing File requested by a Non-Lead Noteholder; and

(D) until the sale
is completed and a reasonable period of time (but no less time than is afforded to other offerors and the Controlling Class Representative)
prior to the proposed sale date, all information and other documents being provided to other offerors and all leases or other documents
that are approved by the Master Servicer or the Special Servicer in connection with the proposed sale.

Any Non-Lead Noteholder may
waive any delivery or timing requirements set forth above only for itself. Subject to the foregoing, each of the Noteholders shall be
permitted to submit an offer at any sale of all of the A Notes (unless such Person is a Borrower or a Borrower Party Affiliate).

    34 

     

    

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 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

    35 

     

    

appointment and, if the Controlling Noteholder
Representative is not the same Person as the Controlling Noteholder, the Controlling Noteholder Representative provides the Lead Securitization
Noteholder (and any Servicer) with written confirmation of its acceptance of such appointment, an address, any fax number and any email
address for the delivery of notices and other correspondence and a list of officers or employees of such person with whom the parties
to this Agreement may deal (including their names, titles, work addresses, telephone numbers, any fax numbers and any email addresses).
The Controlling Noteholder shall promptly deliver such information to any Servicer. None of the Servicers, 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

    36 

     

    

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 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

    37 

     

    

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 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

    38 

     

    

against any liability to any other Noteholder
that would otherwise be imposed by reason of willful misfeasance, bad faith or negligence.

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

    39 

     

    

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

Section 15.           
No Fiduciary Duty. 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

    40 

     

    

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

    41 

     

    

Noteholder in respect of its obligations to
each other Noteholder hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that no amendment,
modification, waiver or termination of this Agreement shall be effective against such Note Pledgee without the written consent of such
Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed; (iv) that such other Noteholder shall give
to such Note Pledgee copies of any notice of default under this Agreement simultaneously with the giving of same to the pledging Noteholder
and accept any cure thereof by such Note Pledgee which such pledging Noteholder has the right (but not the obligation) to effect hereunder,
as if such cure were made by such pledging Noteholder; (v) that such other Noteholder shall deliver to Note Pledgee such estoppel
certificate(s) as Note Pledgee shall reasonably request, provided that any such certificate(s) shall be in a form reasonably satisfactory
to such other Noteholder; and (vi) that, upon written notice (a “Redirection Notice”) to each other Noteholder
and any Servicer by such Note Pledgee that the pledging Noteholder is in default, beyond any applicable cure periods, under the pledging
Noteholder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging Noteholder and such
Note Pledgee (which notice need not be joined in or confirmed by the pledging Noteholder), and until such Redirection Notice is withdrawn
or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Noteholder or Servicer would otherwise
be obligated to pay to the pledging Noteholder from time to time pursuant to this Agreement or any Servicing Agreement. Any pledging Noteholder
hereby unconditionally and absolutely releases each other Noteholder and any Servicer from any liability to the pledging Noteholder on
account of any Noteholder’s or Servicer’s compliance with any Redirection Notice believed by any Servicer or any such other
Noteholder to have been delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and remedies against
the pledging Noteholder to such Note Pledgee (and accept an assignment in lieu of foreclosure as to such collateral), in accordance with
applicable law and this Agreement. In such event, the Noteholders and any Servicer shall recognize such Note Pledgee (and any transferee
other than the 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;

    42 

     

    

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

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

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

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

Section 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

    43 

     

    

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 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;

    44 

     

    

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

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

Section 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.

    45 

     

    

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;

    46 

     

    

(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. DBRI, as Initial Agent, may transfer its rights and obligations to a Servicer, as successor
Agent, at any time without the consent of any Noteholder. DBRI, 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

    47 

     

    

(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,

    48 

     

    

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]

    49 

     

    

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:
	 	 
	 	 
	 	DBR
Investments Co. Limited
	 	 
	 	 By:  	/s/ Matt Smith
	 	 	Name:  	Matt Smith
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

 

	 	
	 	 
	 	 By:  	/s/ Natalie Grainger
	 	 	Name:  	Natalie Grainger
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

 

	 	INITIAL NOTE A-2 HOLDER:
	 	 
	 	 
	 	DBR
Investments Co. Limited
	 	 
	 	 By:  	/s/ Matt Smith
	 	 	Name:  	Matt Smith
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

 

	 	
	 	 
	 	 By:  	/s/ Natalie Grainger
	 	 	Name:  	Natalie Grainger
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

 

    Signature Page

     

    

 

	 	INITIAL NOTE A-3 HOLDER:
	 	 
	 	 
	 	DBR
Investments Co. Limited
	 	 
	 	 By:  	/s/ Matt Smith
	 	 	Name:  	Matt Smith
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

 

	 	
	 	 
	 	 By:  	/s/ Natalie Grainger
	 	 	Name:  	Natalie Grainger
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

 

	 	INITIAL NOTE A-4 HOLDER:
	 	 
	 	 
	 	DBR
Investments Co. Limited
	 	 
	 	 By:  	/s/ Matt Smith
	 	 	Name:  	Matt Smith
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

 

	 	
	 	 
	 	 By:  	/s/ Natalie Grainger
	 	 	Name:  	Natalie Grainger
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

 

 

    Signature Page

     

    

 

	 	INITIAL NOTE A-5 HOLDER:
	 	 
	 	 
	 	DBR
Investments Co. Limited
	 	 
	 	 By:  	/s/ Matt Smith
	 	 	Name:  	Matt Smith
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

 

	 	
	 	 
	 	 By:  	/s/ Natalie Grainger
	 	 	Name:  	Natalie Grainger
	 	 	Title: 	Authorized Signatory
	 	 	 	 

 

 

    Signature Page

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

A.       Description of Mortgage
Loan:

 

	Mortgage Loan Agreement:	Loan Agreement, dated as of July 20, 2021 (as amended, restated, replaced, supplemented or otherwise modified from time to time), between DBR Investments Co. Limited, as lender, and Safon Owner LLC, as borrower 
	Borrower(s)	Safon Owner LLC
	Location of Mortgaged Property:	2 Washington Street, New York, NY
	Date of the Mortgage Loan:	July 20, 2021
	Date of Note A-1:	July 20, 2021
	Date of Note A-2:	July 20, 2021
	Date of Note A-3:	July 20, 2021
	Date of Note A-4:	July 20, 2021
	Date of Note A-5:	July 20, 2021
	Initial Principal Amount of Mortgage Loan:	$131,500,000
	Stated Maturity Date:	August 6, 2031

    A-1 

     

    

B.       Description of Note
Interests:

	Initial Note A-1 Principal Balance:	$50,000,000
	Initial Note A-2 Principal Balance:	$30,000,000
	Initial Note A-3 Principal Balance:	$25,000,000
	Initial Note A-4 Principal Balance:	$16,500,000
	Initial Note A-5 Principal Balance:	$10,000,000
	Note A Rate:	3.45% per annum

 

    A-2 

     

    

EXHIBIT B

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

DBR Investments Co. Limited

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:

DBR Investments Co. Limited

60 Wall Street, 10th Floor

New York, New York 10005

Attention: General Counsel

Facsimile No. (646) 736-5721

    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.

 

    C-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]