Document:

Exhibit 4.9

 

 

EXECUTION
VERSION

 

AGREEMENT
AMONG NOTEHOLDERS

 

Dated
as of July 19, 2017

by and among

 

UBS
AG, BY AND THROUGH ITS BRANCH OFFICE AT 1285 AVENUE OF THE AMERICAS, NEW YORK, NEW YORK

(Initial Note A-1 Holder, Initial Note A-2 Holder, Initial Note A-3 Holder, Initial Note A-4 Holder, Initial Note A-5 Holder,
Initial Note A-6 Holder)

 

and

 

ATHENE
ANNUITY AND LIFE COMPANY, AN IOWA COMPANY DOING BUSINESS IN NEW YORK UNDER FICTITIOUS NAME MLS, ATHENE IOWA

(Initial Note B-1 Holder, Initial Note B-2 Holder)

 

and

 

ATHENE
ANNUITY & LIFE ASSURANCE COMPANY, A DELAWARE COMPANY DOING BUSINESS IN NEW YORK UNDER FICTITIOUS NAME MLS, ATHENE DELAWARE

 

(Initial
Note B-3 Holder)

 

PARK
WEST VILLAGE

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	 	Page
	 	 	 
	Section 1	Definitions	2
	Section 2	Servicing	30
	Section 3	Subordination of Junior Notes; Payments Prior
    to a Sequential Pay Event	37
	Section 4	Payments Following a Sequential Pay Event	39
	Section 5	Administration of the Mortgage Loan	42
	Section 6	Appointment of Operating Advisor	51
	Section 7	Special Servicer	52
	Section 8	Payment Procedure	53
	Section 9	Limitation on Liability of the Noteholders	55
	Section 10	Bankruptcy	56
	Section 11	Cure Rights of the Controlling Noteholder	56
	Section 12	Purchase of the Senior Notes By the Junior Noteholders	59
	Section 13	Representations of the Junior Noteholders	60
	Section 14	Representations of the Senior Noteholders	61
	Section 15	Independent Analysis of the Junior Noteholders
    and the Senior Noteholders	61
	Section 16	No Creation of a Partnership	62
	Section 17	Not a Security	62
	Section 18	Other Business Activities of the Noteholders	62
	Section 19	Sale of the Notes	62
	Section 20	Registration of Transfer	68
	Section 21	Registration of the Notes	68
	Section 22	No Pledge	68
	Section 23	Cooperation in Securitization	68
	Section 24	Governing Law; Waiver of Jury Trial	70
	Section 25	Submission To Jurisdiction; Waivers	70
	Section 26	Modifications	71
	Section 27	Successors and Assigns; Third Party Beneficiaries	71
	Section 28	Counterparts; Facsimile Execution	71
	Section 29	Captions	72
	Section 30	Severability	72
	Section 31	Entire Agreement	72
	Section 32	Withholding Taxes	72
	Section 33	Custody of Mortgage Loan Documents	74
	Section 34	Servicing of the Loan After the Securitization
    Date	74
	Section 35	Notices	74
	Section 36	Broker	74
	Section 37	Certain Matters Affecting the Agent	75
	Section 38	Termination of Agent	75
	Section 39	Resizing	76

  

    -i-

     

    

 

 

THIS
AGREEMENT AMONG NOTEHOLDERS (with the exhibits and schedules hereto and all amendments and modifications hereof and supplements
hereto, this “Agreement”), dated as of July 19, 2017 by and among UBS AG, by and through its branch office
at 1285 Avenue of the Americas, New York, New York (“UBS AG, New York Branch,” together with its successors
and assigns in interest, in its capacity as the initial owner of Note A-1 (as defined herein), the “Initial Note A-1
Holder”), UBS AG, New York Branch (together with its successors and assigns in interest, in its capacity as the initial
owner of Note A-2 (as defined herein), the “Initial Note A-2 Holder”), UBS AG, New York Branch (together with
its successors and assigns in interest, in its capacity as the initial owner of Note A-3 (as defined herein), the “Initial
Note A-3 Holder”), UBS AG, New York Branch (together with its successors and assigns in interest, in its capacity as
the initial owner of Note A-4 (as defined herein), the “Initial Note A-4 Holder”), UBS AG, New York Branch
(together with its successors and assigns in interest, in its capacity as the initial owner of Note A-5 (as defined herein), the
“Initial Note A-5 Holder”), UBS AG, New York Branch (together with its successors and assigns in interest,
in its capacity as the initial owner of Note A-6 (as defined herein), the “Initial Note A-6 Holder”) (the Initial
Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder, the Initial Note A-4 Holder, the Initial Note A-5 Holder
and the Initial Note A-6 Holder shall be referred to herein each as a “Initial Senior Noteholder” and collectively
as the “Initial Senior Noteholders”), and Athene Annuity and Life Company, an Iowa company doing business in
New York under fictitious name MLS, Athene Iowa (in its capacity as initial owner of Note B-1 (as defined herein), the “Initial
Note B-1 Holder”), Athene Annuity and Life Company, an Iowa company doing business in New York under fictitious name
MLS, Athene Iowa (in its capacity as initial owner of Note B-2 (as defined herein), the “Initial Note B-2 Holder”),
Athene Annuity & Life Assurance Company, a Delaware company doing business in New York under fictitious name MLS, Athene Delaware
(in its capacity as initial owner of Note B-3 (as defined herein), the “Initial Note B-3 Holder”) (the Initial
Note B-1 Holder, the Initial Note B-2 Holder and the Initial Note B-3 Holder shall be referred to herein each as an “Initial
Junior Noteholder” and collectively as the “Initial Junior Noteholders”).

 

W
I T N E S S E T H:

 

WHEREAS,
pursuant to the Mortgage Loan Agreement (as defined herein), the Initial Senior Noteholders and the Initial Junior Noteholders
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 described on the Mortgage Loan Schedule (the “Mortgage
Loan Borrower”), which is evidenced, inter alia, by nine promissory notes (each, a “Note”
and collectively, as amended, modified or supplemented, the “Notes”), each dated July 19, 2017, with the first
such note in the original principal amount of $40,000,000 (as amended, modified or supplemented, “Note A-1”),
made by the Mortgage Loan Borrower in favor of the Initial Note A-1 Holder, with the second such note in the original principal
amount of $30,000,000 (as amended, modified or supplemented, “Note A-2”), made by the Mortgage Loan Borrower
in favor of the Initial Note A-2 Holder, with the third such note in the original principal amount of $20,000,000 (as amended,
modified or supplemented, “Note A-3”), made by the Mortgage Loan Borrower in favor of the Initial Note A-3
Holder, with the fourth such note in the original

 

    

     

    

 

principal
amount of $15,000,000 (as amended, modified or supplemented, “Note A-4”), made by the Mortgage Loan Borrower
in favor of the Initial Note A-4 Holder, with the fifth such note in the original principal amount of $10,000,000 (as amended,
modified or supplemented, “Note A-5”), made by the Mortgage Loan Borrower in favor of the Initial Note A-5
Holder, with the sixth such note in the original principal amount of $5,000,000 (as amended, modified or supplemented, “Note
A-6” and together with Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5, each, a “Senior Note”
and collectively, the “Senior Notes”) made by the Mortgage Loan Borrower in favor of the Initial Note A-6 Holder,
with the seventh such note in the original principal amount of $7,000,000 (as amended, modified or supplemented, “Note
B-1”), made by the Mortgage Loan Borrower in favor of the Initial B-1 Holder, with the eighth such note in the original
principal amount of $6,000,000 (as amended, modified or supplemented, “Note B-2”), made by the Mortgage Loan
Borrower in favor of the Initial B-2 Holder, with the ninth such note in the original principal amount of $5,750,000 (as amended,
modified or supplemented, “Note B-3” and together with Note B-1 and Note B-2, each, a “Junior Note”
and collectively, the “Junior Notes”), made by the Mortgage Loan Borrower in favor of the Initial B-3 Holder,
and secured by certain first mortgages or deeds of trust lien (as amended, modified or supplemented, the “Mortgage”)
on one or more parcels of, or estates in, real property located as described on the Mortgage Loan Schedule (collectively, the
“Mortgaged Property”);

 

WHEREAS,
each Initial Senior Noteholder intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and
interest in and to its respective Note to one or more depositors who will in turn transfer the same to one or more trusts as part
of the securitization of one or more mortgage loans;

 

WHEREAS,
the Initial Senior Noteholders and the Initial Junior Noteholders desire to enter into this Agreement to memorialize the terms
under which they, and their successors and assigns, shall hold the Senior Notes and the Junior Notes, respectively;

 

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 or the Model PSA, as applicable. Whenever used in this Agreement,
the following terms shall have the respective meanings set forth below unless the context clearly requires otherwise.

 

“Accelerated
Mezzanine Loan Lender” shall mean any Mezzanine Lender if any Mezzanine Loan has been accelerated in whole or in part
or if foreclosure or enforcement proceedings or other remedies have been commenced against the equity collateral pledged to secure
any Mezzanine Loan or against any guarantor or indemnitor of any obligations under the loan documents evidencing, guaranteeing
or securing any Mezzanine Loan.

 

“Acceptable
Insurance Default” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA
and (ii) following the Securitization Date, shall

 

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have
the meaning assigned to such term in the Lead Securitization Servicing Agreement or such other analogous term used in the Lead
Securitization Servicing Agreement.

 

“Additional
Servicing Expenses” shall mean (a) all Servicing Advances, fees and/or expenses incurred by and reimbursable to any
Servicer, Trustee, Securitization Operating Advisor, Certificate Administrator or fiscal agent pursuant to the Servicing Agreement,
and (b) all interest accrued on Advances made by (x) any Servicer, Trustee or fiscal agent in accordance with the terms of the
Servicing Agreement or (y) any Non-Lead Servicer, Non-Lead Trustee or the fiscal agent in accordance with the terms of the related
Non-Lead Securitization Servicing Agreement; provided that the aggregate special servicing fee (or equivalent) (which fee is payable
solely during the period that the Mortgage Loan is a Specially Serviced Loan) shall not exceed an amount equal to 0.25% per annum
of the outstanding principal balance of the Mortgage Loan, the special servicing liquidation fee (or equivalent) shall not exceed
1.0% of the collections made with respect to the Mortgage Loan or any sums received from proceeds from the disposition of the
Mortgaged Property or the Mortgage Loan, as the case may be, and the special servicing workout fee (or equivalent) shall not exceed
1.0% of the collections made with respect to the Mortgage Loan while the Mortgage Loan is a performing or “corrected”
loan (or such other analogous term pursuant to the Servicing Agreement).

 

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

 

“Advances”
shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement
or Non-Lead Securitization Servicing Agreement, as applicable.

 

“Affiliate”
(i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii) following the Securitization
Date, shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or such other analogous term
used in the Lead Securitization Servicing Agreement.

 

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

 

“Agent
Office” shall mean, prior to the First Securitization, the designated office of the Initial Agent in the State of New
York, which office at the date of this Agreement is located at UBS AG, 1285 Avenue of the Americas, New York, New York, 10019,
Attention: David Schell, Email address: david.schell@ubs.com, and which is the address to which notices to and correspondence
with the Agent should be directed. The Agent may change the address of its designated office by notice to the Noteholders.

 

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

 

“Appraisal”
(i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii) following the Securitization
Date, shall have the meaning

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assigned
to such term in the Lead Securitization Servicing Agreement or such other analogous term used in the Lead Securitization Servicing
Agreement.

 

“Appraisal
Reduction Amount” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA
and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Lead Securitization Servicing
Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.

 

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

 

“Asset
Review” shall have the meaning assigned to such term in any Non-Lead Securitization Servicing Agreement or such other
analogous term used in any Non-Lead Securitization Servicing Agreement.

 

“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.

 

“Athene
Junior Noteholder” means a Junior Noteholder that is (i) one or more Initial Junior Noteholders or an Affiliate thereof,
or (ii) Athene Asset Management, L.P. (“AAM”) or an Affiliate thereof, or any Person for which AAM or any Affiliate
of AAM is fund manager or asset manager with respect to the applicable Junior Note.

 

“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.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Common
Control Party” shall mean with respect to any specified Person, any other Person that Controls, is Controlled by or
under common Control with such specified Person.

 

“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; provided that, for purposes of the definition
of “Qualified Institutional Lender” as used in this Agreement, “Control” shall also require the ownership,
directly or indirectly, in the aggregate of more than fifty percent (50%) of the beneficial ownership interests of an entity.
“Controlled” and “Controlling” each have the meaning correlative thereto.

 

“Control
Appraisal Period” A “Control Appraisal Period” shall exist with respect to the Mortgage Loan, if and for
so long as:

 

(a)        (1)
the initial Junior Note Principal Balance minus (2) the sum (without duplication) of (x) any payments of principal (whether as
principal prepayments or otherwise) allocated to, and received on, the Junior Notes after the date of creation of the Junior Notes,
(y) any Appraisal Reduction Amount for the Mortgage Loan that is allocated to the Junior Notes and (z) any losses realized with
respect to any Mortgaged Property or the Mortgage Loan that are allocated to the Junior Notes, is less than

 

(b)        25%
of the remainder of the (i) initial Junior Note Principal Balance less (ii) any payments of principal (whether as principal prepayments
or otherwise) allocated to, and received by, the Junior Noteholders on the Junior Notes after the date of creation of the Junior
Notes.

 

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

 

“Controlling
Noteholder” shall mean as of any date of determination (i) the Note B-1 Holder unless a Control Appraisal Period has
occurred and is continuing or (ii) if a Control Appraisal Period has occurred and is continuing, the Note A-1 Holder; provided
that at any time the Note A-1 Holder is the Controlling Noteholder and Note A-1 is included in the Lead Securitization, references
to the “Controlling Noteholder” herein shall mean the holders of the majority of the class of securities issued in
the Lead Securitization designated as the “controlling

 

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class”
or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder” hereunder,
as and to the extent provided in the Servicing Agreement; provided that, if the Note B-1 Holder would be the Controlling
Noteholder pursuant to the terms hereof, but any interest in any of the Junior Notes is held by any Mortgage Loan Borrower Related
Party, or any Mortgage Loan Borrower Related Party would otherwise be entitled to exercise the rights of the Note B-1 Holder as
Controlling Noteholder, a Control Appraisal Period shall be deemed to have occurred. If a Control Appraisal Period has occurred
or deemed to have occurred and any interest in Note A-1 is held by any Mortgage Loan Borrower Related Party, or any Mortgage Loan
Borrower Related Party would otherwise be entitled to exercise the rights of the Note A-1 Holder as Controlling Noteholder, the
rights of the Controlling Noteholder shall be exercised by the Note A-2 Holder, unless any interest in Note A-2 is held by any
Mortgage Loan Borrower Related Party, in which case the rights of the Controlling Noteholder shall be exercised by the Note A-3
Holder, unless any interest in Note A-3 is held by any Mortgage Loan Borrower Related Party, in which case the rights of the Controlling
Noteholder shall be exercised by the Note A-4 Holder, unless any interest in Note A-4 is held by any Mortgage Loan Borrower Related
Party, in which case the rights of the Controlling Noteholder shall be exercised by the Note A-5 Holder, unless any interest in
Note A-5 is held by any Mortgage Loan Borrower Related Party, in which case the rights of the Controlling Noteholder shall be
exercised by the Note A-6 Holder, unless any interest in Note A-6 is held by any Mortgage Loan Borrower Related Party, in which
case the rights of the rights of the Controlling Noteholder shall be deemed null and void and no Mortgage Loan Borrower Related
Party shall be entitled to exercise such rights. As of the Closing Date, the Controlling Noteholder will be the Note B-1 Holder.

 

“Crowd
Funding Structure” shall mean the practice of soliciting financial contributions and primarily funding a project or
venture by raising monetary contributions which are funded primarily (a) in reliance upon Regulation Crowdfunding promulgated
by the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended and/or (b) through internet-mediated
registries, platforms or similar portals, mail-order subscriptions, benefit events and/or other similar methods.

 

“Cure
Period” shall have the meaning assigned to such term in Section 11(a).

 

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

 

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

 

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

 

“Defaulted
Mortgage Loan Purchase Price” shall mean the sum, without duplication, of (a) the Principal Balance of the Senior Notes,
(b) accrued and unpaid interest thereon at the Senior Note Rate, from the date as to which interest was last paid in full by Mortgage
Loan Borrower up to and including the end of the interest accrual period relating to the Monthly Payment Date next following the
date the purchase occurred, (c) any other amounts due under the Mortgage Loan, other than Prepayment Premiums, default interest,
late fees, exit fees and any other similar fees, provided that if any Mortgage Loan Borrower Related Party is the

 

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purchaser,
the Defaulted Mortgage Loan Purchase Price shall include Prepayment Premiums, default interest, late fees, exit fees and any other
similar fees, (d) without duplication of amounts under clause (c), any unreimbursed property protection or servicing Advances
and any expenses incurred in enforcing the Mortgage Loan Documents (including, without limitation, servicing Advances payable
or reimbursable to any Servicer, and earned and unreimbursed special servicing fees not in excess of the limitations set forth
in this Agreement), (e) without duplication of amounts under clause (c), any accrued and unpaid Advance Interest Amount, (f) (i)
if any Mortgage Loan Borrower Related Party is the purchaser or (ii) if the Mortgage Loan is purchased more than ninety (90) days
after the first such option becomes exercisable pursuant to Section 12 of this Agreement, any liquidation or workout fees payable
under the Lead Securitization Servicing Agreement with respect to the Mortgage Loan and (g) any Recovered Costs not reimbursed
previously to the Senior Notes pursuant to this Agreement. Notwithstanding the foregoing, if any Junior Noteholder is purchasing
from any Mortgage Loan Borrower Related Party, the Defaulted Mortgage Loan Purchase Price shall not include the amounts described
under clauses (d) through (f) of this definition. If the Mortgage Loan is converted into a REO Property, for purposes of determining
the Defaulted Mortgage Loan Purchase Price, interest will be deemed to continue to accrue at the Senior Note Rate on the Senior
Note Principal Balance, as if the Mortgage Loan were not so converted. In no event shall the Defaulted Mortgage Loan Purchase
Price include amounts due or payable to any Junior Noteholder under this Agreement.

 

“Defaulted
Note Purchase Date” shall have the meaning assigned to such term in Section 12.

 

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

 

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

 

“Executive
Order” shall mean an Executive Order of the President of the United States of America.

 

“Final
Recovery Determination” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model
PSA and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Lead Securitization Servicing
Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.

 

“First
Securitization” shall mean the earliest to occur of the Note A-1 Securitization, the Note A-2 Securitization, the Note
A-3 Securitization, the Note A-4 Securitization, the Note A-5 Securitization and the Note A-6 Securitization.

 

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

 

“Government
Lists” shall mean, collectively, (i) the Specially Designated Nationals and Blocked Persons Lists maintained by OFAC,
(ii) any other list of terrorists, terrorist organizations or narcotics traffickers maintained pursuant to any of the Rules and
Regulations of OFAC, and (iii) any similar lists maintained by the United States Department of

 

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State,
the United States Department of Commerce or any other governmental authority or pursuant to any Executive Order.

 

“Guarantor”
shall mean any guarantor or indemnitor (other than the Mortgage Loan Borrower) under any “Guaranty” or the “Environmental
Indemnity” as such terms are defined in the Mortgage Loan Documents.

 

“Initial
Agent” shall mean UBS AG, New York Branch, in its capacity as the initial Agent hereunder.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Initial
Junior Noteholder” shall have the meaning assigned to such term in the preamble.

 

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

 

“Initial
Senior Noteholder” shall have the meaning assigned to such term in the preamble.

 

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“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” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the
Model PSA and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Lead Securitization
Servicing Agreement or any one or more analogous terms in the Lead Securitization Servicing Agreement.

 

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

 

“Interested
Person” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii)
following the Securitization Date, shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement
or such other analogous term used in the Lead Securitization 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 Junior Note as collateral securing (in whole or in part) any obligation or security held by such Securitization
Vehicle as collateral for the CDO.

 

“Junior
Note(s)” shall have the meaning assigned to such term in the recitals.

 

“Junior
Noteholder(s)” shall have the meaning assigned to such term in the recitals.

 

“Junior
Noteholder Representative” shall have the meaning assigned to such term in Section 19(b).

 

“Junior
Note Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Junior Note
Principal Balance and the denominator of which is the sum of the Senior Note Principal Balance and the Junior Note Principal Balance.

 

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“Junior
Note Principal Balance” shall mean, at any time of determination, the Initial Junior Note Principal Balance set forth
on the Mortgage Loan Schedule, less any payments of principal thereon or reductions in such amount pursuant to Section 3, 4 or
5, as applicable.

 

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

 

“Junior
Principal Portion” means, with respect to each Monthly Payment Date, the Junior Note Percentage Interest of principal
payments received with respect to the Mortgage Loan.

 

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

 

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

 

“Lead
Securitization Note” shall mean (a) during the period from and after the Note A-2 Securitization Date, Note A-3 Securitization
Date, Note A-4 Securitization Date, Note A-5 Securitization Date or Note A-6 Securitization Date but prior to the Note A-1 Securitization
Date, the Note to be contributed to the First Securitization; and (b) on and after the Note A-1 Securitization Date, Note A-1.

 

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

 

“Lead
Securitization Servicing Agreement” shall mean, as of any date of determination, the pooling and servicing agreement
that governs the Securitization that is then the Lead Securitization, which shall be substantially in the form of the Model PSA
and shall be a pooling and servicing agreement customary and usually used in the servicing practices of servicers of commercial
mortgage loans intended to be securitized; provided it is acknowledged that such agreement is subject in all respects to changes
(i) required by the Code relating to the tax elections of the related Securitization Trust, (ii) required by law or changes in
any law, rule or regulation, (iii) requested by the Rating Agencies or any purchaser of subordinate certificates or (iv) such
other changes as the holder of the Lead Securitization Note deems advisable to conform to recent market pooling and servicing
agreements for commercial mortgage securitizations; provided further, 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 Section 2(f).

 

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

 

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

 

    10

     

    

 

“Liquidation
Proceeds” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii)
following the Securitization Date, shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement
or such other analogous term used in the Lead Securitization Servicing Agreement.

 

“Major
Decisions” shall mean:

 

(i)          any
proposed or actual foreclosure upon or comparable conversion (which may include acquisitions of the related REO Property) of the
ownership of properties securing the Mortgage Loan;

 

(ii)         any
modification, consent to a modification or waiver of any monetary term (other than Penalty Charges) or material non-monetary term
(including, without limitation, the timing of payments and acceptance of discounted pay-offs but excluding waiver of Penalty Charges)
of the Mortgage Loan or any extension of the maturity date of the Mortgage Loan;

 

(iii)        any
modification of, or waiver with respect to, the Mortgage Loan that would result in a discounted pay-off of the Junior Note;

 

(iv)        any
sale of the Mortgage Loan (when it is a Defaulted Mortgage Loan) or REO Property for less than the applicable Defaulted Mortgage
Loan Purchase Price;

 

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

 

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

 

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

 

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

 

    11

     

    

 

(ix)          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 (the
determination of whether the conditions precedent to releasing or reducing any such escrow accounts, reserve accounts or letters
of credit have been satisfied shall not constitute matters of lender discretion for purposes of this clause (ix));

 

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

 

(xi)         the
determination of the Special Servicer pursuant to the definition of Servicing Transfer Event;

 

(xii)        following
an Event of Default with respect to the Mortgage Loan, any exercise of a material remedy on the Mortgage Loan or any acceleration
of the Mortgage Loan, as the case may be, or initiation of judicial, bankruptcy or similar proceedings under the Mortgage Loan
Documents or with respect to the Mortgage Loan Borrower or Mortgaged Property;

 

(xiii)       any
modification, waiver or amendment of any material term of any intercreditor agreement, co-lender agreement or similar agreement
(other than this Agreement) with any mezzanine lender or subordinate debt holder related to the Mortgage Loan;

 

(xiv)       any
determination of an Acceptable Insurance Default;

 

(xv)        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;

 

(xvi)       the
granting of any consents or approvals related to the incurrence of additional debt or mezzanine debt by a direct or indirect parent
of the Mortgage Loan Borrower, to the extent the lender’s consent or approval is required under the Mortgage Loan Documents;

 

(xvii)      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, in each case to the
extent the lender’s consent or approval is required under the Mortgage Loan Documents;

 

    12

     

    

 

(xviii)     any
approval of a Major Lease or any modification, amendment or renewal thereof (to the extent lender’s approval is required
by the Mortgage Loan Documents); and

 

(xix)        the
voting of any claim or on any plan of reorganization, restructuring or similar plan in the bankruptcy of the Mortgage Loan Borrower
unless any option to purchase the Senior Notes pursuant to Section 12 of this Agreement has expired or been waived under Section
12 hereunder.

 

Notwithstanding
anything to the contrary contained herein, for so long as any Junior Noteholder or a Common Control Party thereof directly or
indirectly holds all or any portion of or interest in any Mezzanine Loan (a “Mezzanine Loan Holder”), the Controlling
Noteholder (if the Controlling Noteholder is the Note B-1 Holder) shall not have any consent or approval rights with respect to
matters set forth or described in clause (i), clause (ii), clause (xii) or, solely with respect to any intercreditor
agreement, co-lender agreement or similar agreement relating to any Mezzanine Loan with respect to which any Junior Noteholder
or a Common Control Party thereof directly or indirectly holds all or any portion thereof or interest therein, clause (xiii)
of this definition; provided, however, nothing in this paragraph shall be deemed to limit any consent rights with respect
to REO Property; provided, further, for purposes of the definition of “Common Control Party” as used in this paragraph,
the possession by any Person of the right to consent to (or veto) Major Decisions with respect to any other Person shall not,
in and of itself, render such Person to be in Control of such other Person.

 

Provided,
however that after the Securitization Date, during the occurrence and continuance of a Control Appraisal Period, “Major
Decisions” shall have the meaning given to such term in the Lead Securitization Servicing Agreement or such other analogous
term used in the Lead Securitization Servicing Agreement.

 

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

 

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

 

“Maximum
Legal Rate” shall mean the maximum non-usurious interest rate, if any, that at any time or from time to time may be
contracted for, taken, reserved, charged or received on the indebtedness evidenced by the Notes and as provided for herein or
in the Mortgage Loan Documents under the laws of such governmental authorities whose laws are held by any court of competent jurisdiction
to govern the interest rate provisions of the Mortgage Loan.

 

“Mezzanine
Lender” shall mean any Mezzanine Lender (as such term is defined in the Mortgage Loan Agreement) or the New Mezzanine
Lender (as such term is defined in the Mortgage Loan Agreement).

 

    13

     

    

 

“Mezzanine
Loan” shall mean any Mezzanine Loan (as such term is defined in the Mortgage Loan Agreement) or any New Mezzanine Loan
(as such term is defined in the Mortgage Loan Agreement).

 

“Mezzanine
Loan Holder” shall have the meaning set forth in the definition of “Major Decisions”.

 

“Model
PSA” shall mean the pooling and servicing agreement dated as of June 1, 2017, among UBS Commercial Mortgage Securitization
Corp., as depositor, Wells Fargo Bank, National Association, as master servicer, CWCapital Asset Management LLC, as special servicer,
AEGON USA Realty Advisors, LLC, as Save Mart Portfolio special servicer, Wilmington Trust, National Association, as trustee, Wells
Fargo Bank, National Association, as certificate administrator, paying agent and custodian, and Pentalpha Surveillance LLC, as
operating advisor and asset representations reviewer with respect to the UBS 2017-C1 securitization.

 

“Monetary
Default” shall have the meaning assigned to such term in Section 11(a).

 

“Monetary
Default Notice” shall have the meaning assigned to such term in Section 11(a).

 

“Monthly
Payment” shall have the meaning assigned to such term in the Servicing Agreement or any one or more analogous terms
in the Servicing Agreement.

 

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

 

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

 

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

 

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

 

“Mortgaged
Property” 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 mortgage loan agreement, dated as of July 19, 2017, among the Mortgage Loan Borrower,
the Initial Senior Noteholders and the Initial Junior Noteholders, as the same may be amended, restated, renewed, extended, modified
or supplemented from time to time, subject to the terms hereof.

 

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

 

    14

     

    

 

“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 Notes, the Mortgage
and all other agreements and documents now or hereafter evidencing or securing the Mortgage Loan.

 

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

 

“Net
Junior Note Rate” shall mean the Junior Note Rate minus the Servicing Fee Rate.

 

“Net
Senior Note Rate” shall mean the Senior Note Rate minus the Servicing Fee Rate.

 

“New
Notes” shall have the meaning assigned to such term in Section 39.

 

“Non-Athene
Junior Noteholder” means a Junior Noteholder that is not an Affiliate of one or more Initial Junior Noteholders.

 

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

 

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

 

“Non-Controlling
Noteholder” means the holder of a Non-Controlling Note; provided that, at any time a Non-Controlling Note is
included in a Securitization, references to a “Non-Controlling Noteholder” herein shall mean the Non-Controlling Class
Representative or any other party assigned the rights to exercise the rights of a “Non-Controlling Noteholder” 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 Noteholder (and the Master Servicer and the Special Servicer) has been given written notice; provided that,
if at any time 50% or more of a Non-Controlling Note (or, at any time a Non-Controlling Note is included in a Securitization,
the class of securities issued in such Non-Lead Securitization designated as the “controlling class” or such other
class(es) otherwise assigned the rights to exercise the rights of the “Controlling Noteholder”) is held by any Mortgage
Loan Borrower Related Party, no Person shall be entitled to exercise the rights of such Non-Controlling Noteholder with respect
to such Non-Controlling Note. The Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its
behalf) shall not be required at any time to deal with more than one party exercising the rights of any “Non-Controlling
Noteholder” herein or under the Servicing Agreement and, (x) to the extent that the related Non-Lead Securitization Servicing
Agreement

 

    15

     

    

 

assigns
such rights to more than one party or (y) to the extent a Non-Controlling Note is split into two or more New Notes pursuant to
Section 39, for purposes of this Agreement, such Non-Lead Securitization Servicing Agreement or the holders of such New Notes
shall designate one party to deal with Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on
its behalf) and provide written notice of such designation to the Lead Securitization Noteholder (and the Master Servicer and
the Special Servicer acting on its behalf); provided that, in the absence of such designation and notice, the Lead Securitization
Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as
to which it has received written notice with respect to any Non-Controlling Note as having been designated as the related Non-Controlling
Noteholder, as a Non-Controlling Noteholder for all purposes of this Agreement and the Servicing Agreement.

 

After
the occurrence of the first Securitization of any Senior Note, but prior to the Securitization of any other Senior Note (including
any New Note), all notices, reports, information or other deliverables required to be delivered to the related Noteholder pursuant
to this Agreement or the Servicing Agreement by the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer
acting on its behalf) only need to be delivered to such Noteholder, and, when so delivered to such Noteholder, the Lead Securitization
Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have satisfied its delivery
obligations to such Noteholder with respect to such items hereunder or under the Servicing Agreement. Following the Securitization
of a Non-Lead Securitization Note, all notices, reports, information or other deliverables required to be delivered to the related
Non-Lead Securitization Noteholder or the related Non-Controlling Noteholder pursuant to this Agreement or the Servicing Agreement
by the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall be delivered
to the related Non-Lead Master Servicer and the Non-Lead Special Servicer (who then may forward such items to the party entitled
to receive such items as and to the extent provided in the related Non-Lead Securitization Servicing Agreement) and, when so delivered
to such Non-Lead Master Servicer and Non-Lead Special Servicer, the Lead Securitization Noteholder (or the Master Servicer or
the Special Servicer acting on its behalf) shall be deemed to have satisfied its delivery obligations to such Non-Lead Securitization
Noteholder with respect to such items hereunder or under the Servicing Agreement.

 

“Non-Exempt
Person” shall mean any Person other than a Person who either (i) is 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 clause (A) or (B) above, permit the Senior Noteholder
(or the Servicer acting on its behalf) to make payments free of any obligation or liability for withholding.

 

“Non-Lead
Asset Representations Reviewer” shall mean the “asset representations reviewer” or other analogous term
under a Non-Lead Securitization Servicing Agreement.

 

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

 

    16

     

    

 

“Non-Lead
Master Servicer” shall have the meaning assigned to such term in Section 2(g).

 

“Non-Lead
Securitization” shall mean, (i) on and after the Note A-1 Securitization Date, the Note A-2 Securitization, the Note
A-3 Securitization, the Note A-4 Securitization, the Note A-5 Securitization or the Note A-6 Securitization, as applicable and
(ii) prior to the Note A-1 Securitization Date, any Securitization other than the First Securitization.

 

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

 

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

 

“Non-Lead
Securitization Servicing Agreement” shall have the meaning assigned to such term in Section 2(g).

 

“Non-Lead
Securitization Trust” shall mean the Securitization Trust into which a Non-Lead Securitization Note is deposited.

 

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

 

“Non-Lead
Special Servicer” shall have the meaning assigned to such term in Section 2(g).

 

“Non-Lead
Trustee” shall have the meaning assigned to such term in Section 2(g).

 

“Non-Monetary
Default” shall have the meaning assigned to such term in Section 11(d).

 

“Non-Monetary
Default Cure Period” shall have the meaning assigned to such term in Section 11(d).

 

“Non-Monetary
Default Notice” shall have the meaning assigned to such term in Section 11(d).

 

“Nonrecoverable
Servicing Advance” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA
and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Lead Securitization Servicing
Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.

 

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

 

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

 

    17

     

    

 

“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 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-1 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3
Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note B-1
Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance.

 

“Note
A-1 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the initial outstanding
principal balance of Note A-1, less any payments of principal thereon received by the Note A-1 Holder or reductions in such amount
pursuant to Section 3, 4 or 5, as applicable.

 

“Note
A-1 Securitization” shall mean the Securitization of Note A-1 in a Securitization Trust to be designated by the Note
A-1 Holder.

 

“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 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-2 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3
Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note B-1
Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance.

 

“Note
A-2 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the initial outstanding
principal balance of Note A-2, less any payments of principal thereon received by the Note A-2 Holder or reductions in such amount
pursuant to Section 3, 4 or 5, as applicable.

 

“Note
A-2 Securitization” shall mean the Securitization of Note A-2 in a Securitization Trust to be designated by the Note
A-2 Holder.

 

“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 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-3 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3
Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal

 

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Balance,
the Note B-1 Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance.

 

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

 

“Note
A-3 Securitization” shall mean the Securitization of Note A-3 in a Securitization Trust to be designated by the Note
A-3 Holder.

 

“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 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-4 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3
Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note B-1
Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance.

 

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

 

“Note
A-4 Securitization” shall mean the Securitization of Note A-4 in a Securitization Trust to be designated by the Note
A-4 Holder.

 

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

 

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

 

“Note
A-5 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-5 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3
Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note B-1
Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance.

 

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

 

    19

     

    

 

“Note
A-5 Securitization” shall mean the Securitization of Note A-5 in a Securitization Trust to be designated by the Note
A-5 Holder.

 

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

 

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

 

“Note
A-6 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note A-6 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3
Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note B-1
Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance.

 

“Note
A-6 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the initial outstanding
principal balance of Note A-6, less any payments of principal thereon received by the Note A-6 Holder or reductions in such amount
pursuant to Section 3, 4 or 5, as applicable.

 

“Note
A-6 Securitization” shall mean the Securitization of Note A-6 in a Securitization Trust to be designated by the Note
A-6 Holder.

 

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

 

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

 

“Note
B-1 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-1 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3
Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note B-1
Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance.

 

“Note
B-1 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the initial outstanding
principal balance of Note B-1, less any payments of principal thereon received by the Note B-1 Holder or reductions in such amount
pursuant to Section 3, 4 or 5, as applicable.

 

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

 

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

 

“Note
B-2 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-2 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3
Principal

 

    20

     

    

 

Balance,
the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note B-1 Principal Balance,
the Note B-2 Principal Balance and the Note B-3 Principal Balance.

 

“Note
B-2 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the initial outstanding
principal balance of Note B-2, less any payments of principal thereon received by the Note B-2 Holder or reductions in such amount
pursuant to Section 3, 4 or 5, as applicable.

 

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

 

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

 

“Note
B-3 Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Note B-3 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3
Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance, the Note A-6 Principal Balance, the Note B-1
Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance.

 

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

 

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

 

“Noteholder
Purchase Notice” has the meaning assigned to such term in Section 12.

 

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

 

“Note
Rate” shall mean either of the Senior Note Rate and the Junior Note Rate, as applicable.

 

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

 

“OFAC”
shall mean the Office of Foreign Assets Control or, if the context requires, any successor governmental authority.

 

“Operating
Advisor” shall mean, with respect to the Mortgage Loan, the advisor appointed pursuant to Section 6(a).

 

“P&I
Advance” shall mean an advance made by (i) a party to the Lead Securitization Servicing Agreement in respect of a delinquent
monthly debt service payment on

 

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the
Lead Securitization Note or (ii) a party to a Non-Lead Securitization Servicing Agreement in respect of a delinquent monthly debt
service payment on the related Non-Lead Securitization Note.

 

“Penalty
Charges” shall mean any amounts collected on the Mortgage Loan from the Mortgage Loan Borrower that represent late fees
and/or default interest, and excluding any Prepayment Premiums.

 

“Percentage
Interest” shall mean, with respect to the Note A-1 Holder, the Note A-1 Percentage Interest, with respect to the Note
A-2 Holder, the Note A-2 Percentage Interest, with respect to the Note A-3 Holder, the Note A-3 Percentage Interest, with respect
to the Note A-4 Holder, the Note A-4 Percentage Interest, with respect to the Note A-5 Holder, the Note A-5 Percentage Interest,
with respect to the Note A-6 Holder, the Note A-6 Percentage Interest, with respect to the Note B-1 Holder, the Note B-1 Percentage
Interest, with respect to the Note B-2 Holder, the Note B-2 Percentage Interest, with respect to the Note B-3 Holder, the Note
B-3 Percentage Interest, as each may be adjusted from time to time.

 

“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 $500,000,000, (iii)
not a Prohibited Person, (iv) not a Prohibited Entity and (v) not subject to a proceeding relating to the bankruptcy, insolvency,
reorganization or relief of debtors.

 

“Person”
(i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii) following the Securitization
Date, shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

 

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

 

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

 

“Principal
Balance” shall mean (i) with respect to the Senior Notes in the aggregate, the Senior Note Principal Balance, (ii) with
respect to any individual Senior Note, the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal
Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance or the Note A-6 Principal Balance, as applicable, (iii)
with respect to the Junior Notes in the aggregate, the Junior Note Principal Balance and (iv) with respect to any individual Junior
Note, the Note B-1 Principal Balance, the Note B-2 Principal Balance or the Note B-3 Principal Balance, as applicable.

 

“Pro
Rata and Pari Passu Basis” shall mean (a) with respect to the Senior Notes and the Senior Noteholders, the allocation
of any particular payment, collection, cost, expense, liability or other amount among such Notes or such Noteholders, as the case
may be, without any priority of any such Note or any such Noteholder over another such Note or Noteholder, as the case may be,
and in any event such that each such Note or Noteholder, as the case may be, is

 

    22

     

    

 

allocated
its pro rata share of such particular payment, collection, cost, expense, liability or other amount (such pro rata
share allocable to any individual Senior Note being equal to a fraction, the numerator of which is the Principal Balance of such
individual Senior Note and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance,
the Note A-3 Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance and the Note A-6 Principal Balance),
and (b) with respect to the Junior Notes and the Junior Noteholders, the allocation of any particular payment, collection, cost,
expense, liability or other amount among such Notes or such Noteholders, as the case may be, without any priority of any such
Note or any such Noteholder over another such Note or Noteholder, as the case may be, and in any event such that each such Note
or Noteholder, as the case may be, is allocated its pro rata share of such particular payment, collection, cost, expense,
liability or other amount (such pro rata share allocable to any individual Junior Note being equal to a fraction, the numerator
of which is the Principal Balance of such individual Junior Note and the denominator of which is the sum of the Note B-1 Principal
Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance).

 

“Prohibited
Entity” shall mean (i) an entity the owners of which are tenants in common, (ii) a Delaware statutory trust or (iii)
any entity capitalized with any Crowd Funding Structure.

 

“Prohibited
Person” means any Person:

 

(i)           listed
in the Annex to, or is otherwise subject to the prohibitions of, Executive Order No. 13224 on Terrorist Financing, effective September
24, 2001, and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support
Terrorism or any other similar prohibitions contained in the rules and regulations of OFAC or in any enabling legislation or other
Executive Orders;

 

(ii)          that
is owned or Controlled by, or acting for or on behalf of, any Person that is listed in the Annex to, or is otherwise subject to
the prohibitions of, Executive Order No. 13224;

 

(iii)         with
whom a Person is prohibited from dealing or otherwise engaging in any transaction by any terrorism or money laundering law, including
Executive Order No. 13224;

 

(iv)         who
commits, threatens, conspires to commit or supports “terrorism” as defined in Executive Order No. 13224;

 

(v)          that
is named as a “specially designated national and blocked person” on the most current list published by OFAC at its
official website or at any replacement website or other replacement official publication of such list;

 

(vi)         that
is subject to trade restrictions under United States law, including, without limitation, the Uniting and Strengthening America
by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (the “Patriot Act”),
115 Stat. 272 (2001), the International Emergency

 

    23

     

    

 

Economic
Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders
or regulations promulgated thereunder;

 

(vii)        that
is listed on any Government List; or

 

(viii)       who
is an Affiliate (as defined in the Mortgage Loan Agreement) of any Person that is described by or that satisfies any of clauses
(i) through (vii) above.

 

“Qualified
Institutional Lender” shall mean each of the Initial Noteholders, any Senior Noteholder that is deemed to be a “Qualified
Institutional Lender” pursuant to Section 19(d) and any other U.S. Person that is:

 

(a)          an
entity Controlled by, under common Control with or Controlling any Initial Noteholder or any Senior Noteholder that is deemed
to be a “Qualified Institutional Lender” pursuant to Section 19(d), or

 

(b)          one
or more of the following:

 

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

 

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

 

(iii)         a
Qualified Trustee (or, in the case of a collateralized debt obligations (“CDO”), a single purpose bankruptcy
remote entity which contemporaneously assigns or pledges its interest in a Junior Note or a participation interest therein (or
any portion thereof or interest therein) to a Qualified Trustee) in connection with (A) a securitization of, (C) the creation
of a CDO secured by, or (C) a financing through an “owner trust” of, a Junior Note (or any portion thereof or interest
therein) (any of the foregoing, a “Securitization Vehicle”), provided that (1) one or more classes of securities
issued by such Securitization Vehicle is initially rated at least investment grade by each of the Rating Agencies which assigned
a rating to one or more classes of securities issued in connection with a 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 a Junior Note (or any portion thereof or interest therein) to such Securitization
Vehicle (and, if DBRS is not one of such Rating Agencies, the special servicer for the Securitization Vehicle is an Approved Servicer),
except that, if one or more classes of securities issued in connection with a Securitization is rated by Moody’s, the transferee
may not rely on this

 

    24

     

    

 

clause
(1) with respect to Moody’s); (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 (such entity, an “Approved Servicer”) and
such Approved Servicer is required to service and administer the Junior Notes in accordance with servicing arrangements for the
assets held by such 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 clause (b)(i), (b)(ii),
(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 $500,000,000, in which (A) a Senior Noteholder or an Athene Junior 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; provided that at least 51%
of the equity interests in such investment vehicle are owned, directly or indirectly, by one or more entities that are otherwise
Qualified Institutional Lenders, or

 

(v)          an
institution substantially similar to any of the foregoing entities described in clause (b)(i), (ii) or (iv) of this definition,

 

and,
in the case of any entity referred to in clause (b)(i), (b)(ii), (b)(iii)(A), (b)(iv)(B) or (b)(v), (x) such entity has at least
$400,000,000 in capital/statutory surplus or shareholders’ equity (except with respect to a pension advisory firm or similar
fiduciary) and at least $1,000,000,000 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
to commercial real estate or owning or operating commercial real estate properties; provided that, in the case of the entity described
in clause (b)(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

 

(c)          any
entity Controlled by any of the entities described in clause (b)(i), (b)(iv) or (b)(v) above or approved by the Rating Agencies
hereunder as a Qualified Institutional Lender for purposes of this Agreement.

 

Notwithstanding
the foregoing, in no event shall any of the Persons listed in clauses (a) through (c) above be deemed Qualified Institutional
Lenders to the extent that such Person (I) is a Prohibited Person, (II) itself has been and/or any other Person owned or controlled
by such Person or affiliated with such Person has been, within the ten (10) years preceding the

 

    25

     

    

 

date
of determination, the subject of any case, proceeding or other action by or against such Person under any existing or future law
of any jurisdiction relating to bankruptcy, insolvency, reorganization or relief of debtors, or (III) is Controlled by and/or
owned in any material respect by any Person(s) which have ever been convicted of a felony.

 

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

 

“Rating
Agencies” shall mean DBRS, Fitch, KBRA, Moody’s, Morningstar and S&P and their respective successors in interest
and, 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(ies) reasonably designated by the applicable Depositor to rate the securities issued in connection
with a Securitization of any Senior Note or any portion thereof; provided, however, that, at any time during which any Senior
Note or any portion thereof is an asset of one or more Securitizations, “Rating Agencies” shall mean, with respect
to any Senior Note only those rating agencies that are engaged by the applicable Depositor(s) from time to time to rate the securities
issued in connection with such Securitization.

 

“Rating
Agency Confirmation” shall have the meaning assigned to such term or any one or more analogous terms in the Lead Securitization
Servicing Agreement or Non-Lead Servicing Agreement, as applicable.

 

“Recovered
Costs” shall mean any amounts referred to in clauses (d) and/or (e) of the definition of “Defaulted Mortgage Loan
Purchase Price” that, at the time of determination, had been previously paid or reimbursed to any Servicer from sources
other than collections on or in respect of the Mortgage Loan or the Mortgaged Property (including, without limitation, from collections
on or in respect of loans other than the Mortgage Loan).

 

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

 

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

 

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

 

“REO
Property” (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii)
following the Securitization Date, shall have the

 

    26

     

    

 

meaning
assigned to such term in the Lead Securitization Servicing Agreement or such other analogous term used in the Lead Securitization
Servicing Agreement.

 

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

 

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

 

“Securitization”
shall mean any sale by the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder
or the Note A-6 Holder of its respective Note or a portion thereof to a Depositor, who will in turn include such Note or portion
thereof as part of a securitization of one or more mortgage loans.

 

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

 

    27

     

    

 

“Securitization
Operating Advisor” shall mean the operating trust advisor, senior trust advisor or any analogous entity under the Lead
Securitization Servicing Agreement, if any.

 

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which Note A-1, Note A-2, Note A-3, Note A-4,
Note A-5, Note A-6 or any portion thereof is held.

 

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

 

“Senior
Note(s)” shall have the meaning assigned to such term in the recitals.

 

“Senior
Noteholder(s)” shall have the meaning assigned to such term in the recitals.

 

“Senior
Note Percentage Interest” shall mean a fraction, expressed as a percentage, the numerator of which is the Senior Note
Principal Balance and the denominator of which is the sum of the Senior Note Principal Balance and the Junior Note Principal Balance.

 

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

 

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

 

“Senior
Principal Portion” means, with respect to each Monthly Payment Date, the Senior Note Percentage Interest of principal
payments received with respect to the Mortgage Loan.

 

“Sequential
Pay Event” shall mean any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any
other Event of Default for which the Mortgage Loan is accelerated or any other Event of Default which causes the Mortgage Loan
to become a Specially Serviced Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided,
however, that unless the Servicer under the Servicing Agreement has notice or knowledge of such event at least ten (10)
Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution
date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of
distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no
longer exist, if it has been cured, including by any cure payment made by the Controlling Noteholder in accordance with the exercise
of its cure rights under Section 11.

 

“Servicer”
(i) prior to the Securitization Date, shall mean Midland Loan Services, a Division of PNC Bank, National Association and (ii)
following the Securitization Date, shall mean the Master Servicer or the Special Servicer, as the context may require.

 

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

 

“Servicing Advances”
(i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii) following the Securitization
Date, shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or such other analogous term
used in the Lead Securitization Servicing Agreement.

 

“Servicing Agreement”
shall mean the Lead Securitization Servicing Agreement. Until such time as the Servicing Agreement is entered into, the Note A-1
Holder shall cause the Mortgage Loan to be serviced by Midland Loan Services, a Division of PNC Bank, National Association in accordance
with this Agreement and the customary and usual servicing practices of originators of commercial mortgage loans intended to be
securitized, and in all events, subject to the Servicing Standard.

 

“Servicing Fee
Rate” (i) prior to the Securitization Date, shall mean 1.5 basis points per annum and (ii) following the Securitization
Date, shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or such other analogous term
used in the Lead Securitization Servicing Agreement.

 

“Servicing Standard”
(i) prior to the Securitization Date, shall mean servicing the Mortgage Loan in accordance with the higher of the following standards
of care: (1) in the same manner in which, and with the same care, skill, prudence and diligence with which the Servicer, services
and administers similar mortgage loans for other third party portfolios and (2) the same care, skill, prudence and diligence with
which the Servicer, services and administers similar mortgage loans owned by the Servicer, with a view to the (A) timely recovery
of all payments or principal and interest under the Mortgage Loan or (B) in the case of a Specially Serviced Loan or an REO Property,
maximization of timely recovery of principal and interest on a net present value basis on the Mortgage Loan but without regard
to any relationship which such Servicer or any Affiliate of such Servicer may have with the Mortgage Loan Borrower or any Affiliate
thereof or to such Servicer’s right to receive compensation for its services in connection with servicing the Mortgage Loan;
and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement
or such other analogous term used in the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

“Threshold Event
Collateral” shall have the meaning assigned to such term in Section 5(g).

 

“Threshold Event
Cure” shall have the meaning assigned to such term in Section 5(g).

 

“Transfer”
shall mean any sale, assignment, transfer, pledge, syndication, participation, hypothecation, contribution, encumbrance or other
disposition (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other similar agreement,
excluding a Pledge in accordance with Section 19(e) prior to the realization on the applicable collateral by the related Note Pledgee).

 

“Trustee”
shall mean the bank or trust company as may be selected by the related Depositor and approved by the Rating Agencies to act as
trustee for the Lead Securitization, and shall include any fiscal agent and/or paying agent appointed for such Securitization.

 

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

 

“Whole Loan
Custodial Account” shall mean the custodial account or subaccount established for the Mortgage Loan pursuant to the Servicing
Agreement.

 

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

 

Section 2.          Servicing.

 

(a)          Each
Noteholder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced prior to the
Securitization Date, as described in the definition of the Servicing Agreement and from and after the Securitization Date (except
as otherwise set forth in Section 2(f)), pursuant to the Lead Securitization Servicing Agreement; provided that the Master
Servicer shall not be obligated to make P&I Advances in respect of the Notes other than the Lead Securitization Note (and each
Non-Lead Master Servicer shall be required to advance monthly payments of principal and interest on the related Non-Lead Securitization
Note pursuant to the terms of the related Non-Lead Securitization Servicing Agreement) if such principal or interest is not paid
by the Mortgage Loan Borrower, but shall be

 

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obligated to make Servicing Advances, subject to the terms of the Lead Securitization
Servicing Agreement including any provisions governing the determination of non-recoverability. Each Junior Noteholder acknowledges
that any Senior Noteholder may elect, in its sole discretion, to include its respective Note, or any portion thereof, in one or
more Securitizations and agrees that it will, subject to Section 23, reasonably cooperate with the applicable Senior Noteholder,
at such Senior Noteholder’s expense, to effect any 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 Special Servicer,
the Trustee, any Certificate Administrator, the Asset Representations Reviewer and any Securitization Operating Advisor under the
Lead Securitization Servicing Agreement by the applicable Depositor and agrees to reasonably cooperate with the Master Servicer
and the Special Servicer (and such other parties) with respect to the servicing of the Mortgage Loan in accordance with this Agreement
and the Lead Securitization Servicing Agreement. Each Noteholder hereby irrevocably appoints the Master Servicer, the Special Servicer
and the Trustee in the Lead Securitization as such Noteholder’s attorney-in-fact to sign any documents reasonably required
with respect to the administration and servicing of the Mortgage Loan on its behalf under the Servicing Agreement (subject at all
times to the rights of such Noteholder set forth herein and in the Servicing Agreement). In no event shall the Servicing Agreement
require the Servicer to enforce the rights of any Noteholder or limit the Servicer in enforcing the rights of one Noteholder against
any other Noteholder; provided, however, that 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, this Agreement,
the Servicing Agreement and applicable law, shall provide information to each Non-Lead Servicer to enable such Non-Lead Servicer
to perform its servicing duties under the related Non-Lead Securitization Servicing Agreement and shall not take any action or
refrain from taking any action or follow any direction inconsistent with the foregoing.

 

(b)          In
no event shall any Junior Noteholder be entitled to exercise any rights of the “directing holder”, controlling class
or any analogous class or holder under the Lead Securitization Servicing Agreement except to the extent such Junior Noteholder
is given such rights expressly under the terms of this Agreement or the Lead Securitization Servicing Agreement in its capacity
as the Controlling Noteholder.

 

(c)          The
Lead Securitization Servicing Agreement shall, unless otherwise agreed to by the Controlling Noteholder, contain (i) servicing
and reporting provisions (including Asset Status Reports for all Major Decisions) substantially similar in all material respects
to the servicing provisions of the Model PSA and (ii) a Servicing Standard substantially similar in all material respects to the
servicing standard in the Model PSA. In no event may the Lead Securitization Servicing Agreement change the interest or principal
allocable to, or the amount of any payments due to, the Junior Noteholders or materially increase the Junior Noteholders’
obligations or materially decrease the Junior Noteholders’ rights, remedies or protections hereunder. The Lead Securitization
Servicing Agreement shall require the Master Servicer and the Special Servicer to service the Mortgage Loan in accordance with
the terms of this Agreement, including the rights of the Junior Noteholders hereunder.

 

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(d)          The
Lead Securitization Servicing Agreement shall contain provisions to the effect that:

 

(i)           if
a Servicer Termination Event under the Lead Securitization Servicing Agreement has occurred (A) with respect to the Master Servicer
under the Lead Securitization Servicing Agreement that affects a Noteholder or any class of commercial mortgage securities backed
by a Note or a participation interest in a Note, and the Master Servicer is not otherwise terminated under the Lead Securitization
Servicing Agreement, then the Note B-1 Holder or its designees (if the Note B-1 Holder is the Controlling Holder), together with
any affected Non-Lead Securitization Noteholder,
shall be entitled to direct the Trustee to 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 Rating Agency Confirmation in connection with any Securitization;

 

(ii)          any
payments received on the Mortgage Loan shall be paid by the Master Servicer to each of the Noteholders in accordance with Section
3 and Section 4 hereof on the “master servicer remittance date” under the Lead Securitization Servicing Agreement;

 

(iii)         the
Noteholders shall be entitled to receive, and the Master Servicer and the Special Servicer shall provide, any information, relating
to the Mortgage Loan, the Mortgage Loan Borrower or the Mortgaged Property as such Person 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 Securitization
Trust that includes any Non-Lead Securitization Note (including, but not limited to, standard CREFC reports); provided that,
notwithstanding anything to the contrary contained in this Agreement, if an interest in any Junior Note or any Junior Noteholder
is held by any Mortgage Loan Borrower Related Party, then no Junior Noteholder shall be entitled to receive the Asset Status Report
or any other information relating to the Special Servicer’s workout strategy;

 

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

 

(v)          the
Lead Securitization Servicing Agreement may not be amended without the consent of the other Noteholders if such amendment would
materially and adversely affect the other Noteholder’s rights with respect to the Mortgaged Loan (as reasonably determined
by the other Noteholders) thereunder.

 

(e)          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.

 

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(f)           At
any time after the Securitization Date that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization
Servicing Agreement, the Noteholders agree to cause the Mortgage Loan to be serviced pursuant to a servicing agreement that contains
servicing provisions which are 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 if any Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been obtained from
each Rating Agency with respect to such Securitization; provided, further, however, 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 Lead Securitization Servicing Agreement as if such agreement was still in full force and effect with
respect to the Mortgage Loan; provided, further, however, that until a replacement servicing agreement is in place, the actual
servicing of the Mortgage Loan may be performed by any Approved Servicer appointed by the Lead Securitization Noteholder and does
not have to be performed by the service providers set forth under the Lead Securitization Servicing Agreement.

 

(g)          The
Master Servicer shall be the master servicer on the Mortgage Loan, and from time to time it (or the Trustee, to the extent provided
in the Servicing Agreement) (i) shall be required to make Servicing Advances with respect to the Mortgage Loan, subject to the
terms of the 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 Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer and
the Trustee, as applicable, shall be entitled to reimbursement for a Servicing Advance, first from funds on deposit in the Whole
Loan Custodial Account for the Mortgage Loan that (in any case) represent amounts received on or in respect of the Mortgage Loan,
and then, in the case of Nonrecoverable Servicing Advances, if such funds on deposit in the Whole Loan Custodial Account are insufficient,
from general collections of the Lead Securitization as provided in the Servicing Agreement and from general collections of each
Non-Lead Securitization as provided below. The Master Servicer, the Special Servicer and the Trustee, as applicable, will be entitled
to reimbursement for Advance Interest Amounts on a Servicing Advance or a Nonrecoverable Servicing Advance, in the manner and from
the sources provided in the Servicing Agreement, including from general collections of the Lead Securitization and, in the case
of Servicing Advances, from general collections of each Non-Lead Securitization as provided below. 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 Servicing Advance or any Advance Interest Amounts on a Servicing Advance or a Nonrecoverable Servicing Advance,
each Non-Lead Securitization Noteholder (including from general collections or any other amounts from any 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 Servicing Advance or Advance Interest Amounts (it being understood that the pro rata
share payable by each Non-Lead Securitization Noteholder under this paragraph would be determined by allocating such Nonrecoverable
Servicing Advance or Advance Interest Amount, as the case may be, first to the Junior Notes and then to the Senior Notes, in that
order).

 

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In addition, each Non-Lead
Securitization Noteholder (including, but not limited to, any Non-Lead Securitization Trust) shall be required to, promptly following
notice from the Master Servicer or the Special Servicer, pay or reimburse the Lead Securitization for such Non-Lead Securitization
Noteholder’s pro rata share of any 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 or the Depositor
of the Lead Securitization, as applicable, is entitled to be reimbursed pursuant to the Servicing Agreement and any costs, fees
and expenses related to obtaining any Rating Agency Confirmation, to the extent amounts on deposit in the Whole Loan Custodial
Account are insufficient for reimbursement of such amounts. 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 Servicing Agreement) each of the Master Servicer, the
Special Servicer, the Certificate Administrator, the Trustee, the Securitization Operating Advisor and the Depositor of the Lead
Securitization (and any director, officer, member, manager, employee or agent of any of the foregoing, to the extent such parties
are identified as indemnified parties in the 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 Securitization Operating Advisor, incurred in connection with the provision of services for the Mortgage
Loan) under the 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 Whole Loan Custodial Account 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 their 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) (it being understood that the pro rata
share payable by each Non-Lead Securitization Noteholder under this paragraph would be determined by allocating the applicable
amounts, as the case may be, first to the Junior Notes and then to the Senior Notes, in that order).

 

The master servicer under
a Non-Lead Securitization (each, a “Non-Lead Master Servicer”) may be required to make P&I Advances on the
related Non-Lead Securitization Note, from time to time, subject to the terms of the servicing agreement for the related Securitization
(each, a “Non-Lead Securitization Servicing Agreement”), the 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 Servicing Agreement. Each Non-Lead Master Servicer and the special servicer and the trustee under each Non-Lead
Securitization Servicing Agreement (each, respectively, a “Non-Lead Special Servicer” and a “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

 

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Master Servicer and the Trustee, as applicable, and each Non-Lead
Master Servicer or Non-Lead Trustee shall be required to notify the other of the amount of its P&I Advance within two Business
Days of making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead
Securitization Note) or a Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee, as applicable (with respect
to the related Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable or
an outstanding P&I Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee,
as applicable, subsequently determines that a proposed Servicing Advance would be non-recoverable or an outstanding Servicing Advance
is or would be non-recoverable, then the Master Servicer or the Trustee (as provided in the Servicing Agreement, in the case of
a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or a Non-Lead Master Servicer
or Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of the a determination
of non-recoverability by such Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee) shall notify the Master
Servicer and the Trustee or Non-Lead Master Servicers and the Non-Lead Trustees, as the case may be, of the other Securitization(s)
on or prior to the next “master servicer remittance date” under the Lead Securitization Servicing Agreement or the
related Non-Lead Servicing Agreement, as applicable. 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 and advance interest thereon
that becomes non-recoverable first from the Whole Loan Custodial Account from amounts allocable to the applicable individual Senior
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 Servicing Agreement and (ii) in the case
of a Non-Lead Securitization Note, from general collections of the related Securitization Trust, as and to the extent provided
in the related Non-Lead Securitization Servicing Agreement (it being understood that the pro rata share payable by each
Non-Lead Securitization Noteholder under this paragraph would be determined by allocating the applicable amounts, as the case may
be, first to the Junior Notes and then to the Senior Notes, in that order).

 

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

 

(i)           the
related Non-Lead Securitization Noteholder shall be responsible for its pro rata share of any Servicing 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 Mortgage Loan and the Mortgaged Property, including without limitation, any unpaid special servicing fees, liquidation fees
and workout fees relating to the Mortgage Loan, and that, in the event that the funds received with respect to each respective
Note are insufficient to cover such Servicing Advances or additional trust fund expenses, (A) the applicable 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 such Non-Lead Securitization Servicing Agreement for
the related Non-Lead Securitization Noteholder’s pro rata share of any

 

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such Nonrecoverable
Servicing 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), and (B) if the 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
applicable 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 such Non-Lead Securitization Servicing Agreement for the related Non-Lead
Securitization Noteholder’s pro rata share of any such Nonrecoverable Servicing 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); provided
that it being understood that the pro rata share payable by such Non-Lead Securitization Noteholder under this
paragraph would be determined by allocating such Servicing Advances and/or Nonrecoverable Servicing Advance and/or additional
trust fund expenses (solely to the extent specifically related to the servicing and administration of the Mortgage Loan and
Mortgaged Property and not including compensation due to the Master Servicer and Special Servicer), as the case may be, first
to the Junior Notes and then to the Senior Notes, in that order; provided further that the pro rata share
payable by such Non-Lead Securitization Noteholder under this paragraph would be determined by allocating additional trust
fund expenses that represent compensation due to the Master Servicer or Special Servicer to the Senior Notes;

 

(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 the Indemnified Parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of 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 related Non-Lead Securitization Trust, against any of the Indemnified Items to the extent of its
pro rata share of such Indemnified Items, and to the extent amounts on deposit in the Whole Loan Custodial Account that
are allocated to the applicable Non-Lead Securitization Note are insufficient for reimbursement of such amounts, the applicable
Non-Lead Master Servicer will be required to reimburse each of the applicable Indemnified Parties for the related Non-Lead Securitization
Note’s pro rata share of the insufficiency out of general funds in the collection account (or equivalent account)
established under such Non-Lead Servicing Agreement (it being understood that the pro rata share payable by such Non-Lead
Securitization Noteholder under this paragraph would be determined by allocating such Indemnified Items, first to the Junior Notes
and then to the Senior Notes, in that order);

 

(iii)         the
applicable Non-Lead Master Servicer or the certificate administrator for the applicable Non-Lead Securitization will be required
to deliver to the Trustee, the Certificate Administrator, the Special Servicer, the Master Servicer and the Securitization Operating
Advisor (i) promptly following the Securitization of the related Non-Lead

 

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Securitization Note, notice of the deposit of such Non-Lead
Securitization Note into a Securitization Trust (which notice shall also provide contact information for the applicable trustee,
the applicable certificate administrator, the applicable Non-Lead Master Servicer, the applicable Non-Lead Special Servicer and
the party designated to exercise the rights of the “Non-Controlling Noteholder” with respect to the related Non-Lead
Securitization Note under this Agreement), accompanied by an executed copy of such Non-Lead Servicing Agreement and (ii) notice
of any subsequent change in the identity of the applicable Non-Lead Master Servicer or the party designated to exercise the rights
of the “Non-Controlling Noteholder” with respect to the related Non-Lead Securitization Note under this Agreement (together
with the relevant contact information);

 

(iv)         any
matter affecting the servicing and administration of the Mortgage Loan that requires delivery of a Rating Agency Confirmation pursuant
to the Lead Securitization Servicing Agreement shall also require delivery of a Rating Agency Confirmation under such Non-Lead
Securitization Servicing Agreement; and

 

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

 

(i)           The
Lead Securitization Servicing Agreement shall provide that compensating interest payments as defined therein with respect to the
Senior Notes will be allocated by the Master Servicer among the Senior Notes, pro rata, in accordance with their respective
Principal Balances. The Master Servicer shall remit any compensating interest payment in respect of a Non-Lead Securitization Note
to the related Non-Lead Securitization Noteholder.

 

Section 3.          Subordination
of Junior Notes; Payments Prior to a Sequential Pay Event.    The
Junior Notes and the right of the Junior Noteholders to receive payments of interest, principal and other amounts with respect
to the Junior Notes shall at all times be junior, subject and subordinate to the Senior Notes and the right of the Senior Noteholders
to receive payments of interest, principal and other amounts with respect to the Senior Notes as set forth herein (it being understood
that the pro rata share of any amounts payable by each Non-Lead Securitization Noteholder under Section 2 would be determined
by allocating such amounts, first to the Junior Notes and then to the Senior Notes, in that order). If no Sequential Pay Event,
as determined by the applicable Servicer, shall have occurred and be continuing, 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, Balloon Payment, Liquidation Proceeds,
proceeds under any guaranty or indemnity, letter of credit or other collateral or instrument securing the Mortgage Loan or Insurance
and Condemnation Proceeds (other than proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged
Property or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent
permitted by the REMIC Provisions), but excluding (x) all amounts for reserves or escrows required by the Mortgage Loan Documents
to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of Advances then due and payable
or reimbursable to any Servicer under the Servicing Agreement and (y) all amounts that are then due, payable or reimbursable to
any Servicer, Securitization

 

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Operating Advisor, Certificate Administrator, Asset Representations Reviewer or Trustee with respect
to the Mortgage Loan pursuant to the Servicing Agreement, shall be applied by each Senior Noteholder (or its designee) and distributed
by the Servicer for payment in the following order of priority without duplication (and payments shall be made at such times as
are set forth in the Servicing Agreement):

 

(a)          first,
to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the Note A-6 Holder
in an amount equal to the interest then due and payable under the Mortgage Loan Documents on the Note A-1 Principal Balance, the
Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance and
the Note A-6 Principal Balance, in each case at the Net Senior Note Rate;

 

(b)          second,
(i) to the Senior Noteholders on a Pro Rata and Pari Passu Basis in an amount equal to the Senior Principal Portion of principal
payments received, if any, with respect to any Monthly Payment Date with respect to the Mortgage Loan, until their Principal Balances
have been reduced to zero and (ii) with respect to any Insurance and Condemnation Proceeds payable as principal to the Noteholders
pursuant to this Section 3, 100% of such Insurance and Condemnation Proceeds shall be distributed to the Senior Noteholders
on a Pro Rata and Pari Passu Basis until their Principal Balances have been reduced to zero;

 

(c)          third,
up to the amount of any unreimbursed costs and expenses paid by the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder,
the Note A-4 Holder, the Note A-5 Holder and/or the Note A-6 Holder, including any Recovered Costs not previously reimbursed to
such Senior Noteholder (or paid or advanced by any Servicer on its behalf and not previously paid or reimbursed) with respect to
the Mortgage Loan pursuant to this Agreement or the Servicing Agreement;

 

(d)          fourth,
to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the Note A-6 Holder
on a Pro Rata and Pari Passu Basis in an amount equal to the aggregate of any Prepayment Premium payable on Note A-1, Note A-2,
Note A-3, Note A-4, Note A-5 and Note A-6 to the extent paid by the Mortgage Loan Borrower;

 

(e)          fifth,
if, as a result of a Workout the Principal Balance of the Senior Notes has been reduced, to the Senior Noteholders on a Pro Rata
and Pari Passu Basis in an amount up to the reduction of the Senior Note Principal Balance as a result of such Workout, plus interest
on such amount at the Senior Note Rate;

 

(f)           sixth,
to the Note B-1 Holder, the Note B-2 Holder and the Note B-3 Holder in an amount equal to the interest then due and payable under
the Mortgage Loan Documents on the Note B-1 Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance,
in each case at the Net Junior Note Rate;

 

(g)          seventh,
(i) to the Junior Noteholders on a Pro Rata and Pari Passu Basis in an amount equal to the Junior Principal Portion of principal
payments received, if any, with respect to any Monthly Payment Date with respect to the Mortgage Loan, until the Junior Note

 

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Principal
Balance has been reduced to zero and (ii) with respect to any Insurance and Condemnation Proceeds payable as principal to the Noteholders
pursuant to this Section 3, the portion of such Insurance and Condemnation Proceeds remaining after distribution to the
Senior Noteholders pursuant to Section 3(b) above shall be distributed to the Junior Noteholders until the Junior Note Principal
Balance has been reduced to zero;

 

(h)          eighth,
to the Note B-1 Holder, the Note B-2 Holder and the Note B-3 Holder on a Pro Rata and Pari Passu Basis in an amount equal to any
Prepayment Premium payable on Note B-1, Note B-2 and Note B-3 to the extent paid by the Mortgage Loan Borrower;

 

(i)           ninth,
to the extent the Note B-1 Holder, the Note B-2 Holder and/or the Note B-3 Holder has made any payments or advances to cure defaults
pursuant to Section 11, to reimburse such Junior Noteholder for all such cure payments;

 

(j)           tenth,
if the proceeds of any foreclosure sale or any liquidation of a Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (a)-(i) and, as a result of a Workout, the Principal Balance of the Junior
Notes have been reduced, such excess amount shall be paid to the Junior Noteholders on a Pro Rata and Pari Passu Basis in an amount
up to the reduction, if any, of the Junior Note Principal Balance as a result of such Workout, plus interest on such amount at
the Junior Note Rate;

 

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

 

(l)           lastly,
if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied in accordance with
the foregoing clauses (a) through (k), any remaining amount shall be paid to each Senior Noteholder and each Junior Noteholder,
pro rata, based on their respective initial Percentage Interests.

 

Section 4.         Payments
Following a Sequential Pay Event.  Payments of interest and principal shall be made to the Noteholders in accordance
with Section 3 of this Agreement; provided that, if a Sequential Pay Event, as determined by the applicable Servicer and
as set forth in the Servicing Agreement, shall have occurred and be continuing, 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 (including, without limitation, amounts received by the Master Servicer or Special Servicer
pursuant to the Servicing Agreement as reimbursements on account of recoveries in respect of Advances), whether received in the
form of Monthly Payments, Balloon Payment, Liquidation Proceeds, proceeds under any guaranty or indemnity, letter of credit or
other collateral or instrument securing the Mortgage Loan or Insurance and Condemnation Proceeds

 

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(other than proceeds, awards
or settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower
in accordance with the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC Provisions), but excluding (x)
all amounts for reserves or escrows required by the Mortgage Loan Documents deemed appropriate by the Servicer in accordance with
the Servicing Standard to continue 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 any Servicer under Servicing Agreement and (y) all amounts that are
then due, payable or reimbursable to any Servicer, Securitization Operating Advisor, Certificate Administrator, Asset Representations
Reviewer or Trustee with respect to this Mortgage Loan pursuant to the Servicing Agreement with respect to the Mortgage Loan,
shall be applied by the Senior Noteholder (or its designee) and distributed by the Servicer for payment in the following order
of priority without duplication (and payments shall be made at such times as are set forth in the Servicing Agreement):

 

(a)          first,
to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the Note A-6 Holder,
pro rata, in an amount equal to the interest then due and payable under the Mortgage Loan Documents on the Note A-1 Principal
Balance, the Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance, the Note A-5 Principal
Balance and the Note A-6 Principal Balance, in each case at the Net Senior Note Rate;

 

(b)          second,
to the Senior Noteholders on a Pro Rata and Pari Passu Basis in an amount equal to the Senior Note Principal Balance, until the
Senior Note Principal Balance has been reduced to zero;

 

(c)          third,
up to the amount of any unreimbursed costs and expenses paid by the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder,
the Note A-4 Holder, the Note A-5 Holder and/or the Note A-6 Holder, including any Recovered Costs not previously reimbursed to
such Senior Noteholder (or paid or advanced by any Servicer on its behalf and not previously paid or reimbursed) with respect to
the Mortgage Loan pursuant to this Agreement or the Servicing Agreement;

 

(d)          fourth,
to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and the Note A-6 Holder
on a Pro Rata and Pari Passu Basis in an amount equal to the aggregate of any Prepayment Premium payable on Note A-1, Note A-2,
Note A-3, Note A-4, Note A-5 and Note A-6 to the extent paid by the Mortgage Loan Borrower;

 

(e)          fifth,
if, as a result of a Workout the Principal Balance of the Senior Notes has been reduced, to the Senior Noteholders on a Pro Rata
and Pari Passu Basis in an amount up to the reduction of the Senior Note Principal Balance as a result of such Workout, plus interest
on such amount at the Senior Note Rate;

 

(f)           sixth,
to the Note B-1 Holder, the Note B-2 Holder and the Note B-3 Holder in an amount equal to the interest then due and payable under
the Mortgage Loan Documents on the Note B-1 Principal Balance, the Note B-2 Principal Balance and the Note B-3 Principal Balance,
in each case at the Net Junior Note Rate;

 

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(g)          seventh,
to the Junior Noteholders on a Pro Rata and Pari Passu Basis in an amount equal to the Junior Note Principal Balance, until the
Junior Note Principal Balance has been reduced to zero;

 

(h)          eighth,
to the Note B-1 Holder, the Note B-2 Holder and the Note B-3 Holder on a Pro Rata and Pari Passu Basis in an amount equal to any
Prepayment Premium payable on Note B-1, Note B-2 and Note B-3 to the extent paid by the Mortgage Loan Borrower;

 

(i)           ninth,
to the extent the Note B-1 Holder, the Note B-2 Holder and/or the Note B-3 Holder has made any payments or advances to cure defaults
pursuant to Section 11, to reimburse such Junior Noteholder for all such cure payments;

 

(j)           tenth,
if the proceeds of any foreclosure sale or any liquidation of a Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (a)-(i) and, as a result of a Workout the Principal Balance of the Junior
Notes have been reduced, such excess amount shall be paid to the Junior Noteholders on a Pro Rata and Pari Passu Basis in an amount
up to the reduction, if any, of the Junior Note Principal Balance as a result of such Workout, plus interest on such amount at
the Junior Note Rate;

 

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

 

(l)           lastly,
if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied in accordance with
the foregoing clauses (a)-(k), any remaining amount shall be paid to each Senior Noteholder and each Junior Noteholder, pro
rata, based on their respective initial Percentage Interests.

 

For clarification purposes,
Penalty Charges (as defined in the Lead Securitization Servicing Agreement) paid on the Senior Notes pursuant to Section 3
or Section 4 hereunder, shall be allocated to each Senior Noteholder on a Pro Rata and Pari Passu Basis and applied first,
to reduce, on a pro rata basis, the amounts payable on the Senior Notes by the amount necessary to pay the Master Servicer,
the Trustee or the Special Servicer for any interest accrued on any Servicing Advances and reimbursement of any Servicing Advances
in accordance with the terms of the Lead Securitization Servicing Agreement, second, to reduce, on a pro rata basis, the
respective amounts payable on Senior Notes 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 Notes by such party (if and as specified
in the Lead Securitization Servicing Agreement or any Non-Lead Servicing Agreement, as applicable), third, to reduce, on a pro
rata basis, the amounts payable on the Senior Notes by the amount necessary to pay additional trust fund expenses (other than
Special Servicing Fees, unpaid Workout Fees

 

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and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the
Lead Securitization Servicing Agreement) and finally, (i) in the case of the remaining amount of Penalty Charges allocable pursuant
to Section 3 or Section 4 hereunder to the Lead Securitization Note, be paid to the Master Servicer and/or the Special Servicer
as additional servicing compensation as provided in the Lead Securitization Servicing Agreement and (ii) in the case of the remaining
amount of Penalty Charges allocable pursuant to Section 3 or Section 4 hereunder to any Non-Lead Securitization Note, (A) prior
to the related Securitization of such Non-Lead Securitization Note, be paid to the related Non-Lead Securitization Noteholder,
or (B) on and after the related Securitization of such Non-Lead Securitization Note, be paid to the Master Servicer and/or the
Special Servicer as additional servicing compensation as provided in the
Lead Securitization Servicing Agreement.

 

Penalty Charges (as defined
in the Lead Securitization Servicing Agreement) paid on the Junior Notes pursuant to Section 3 or Section 4 hereunder
shall be allocated to each Junior Noteholder on a Pro Rata and Pari Passu Basis and applied first, to reduce, on a pro rata
basis, the amounts payable on the Junior Notes by the amount necessary to pay the Master Servicer, the Trustee or the Special
Servicer for any interest accrued on any Servicing Advances and reimbursement of any Servicing Advances in accordance with the
terms of the Lead Securitization Servicing Agreement, second, to reduce, on a pro rata basis, the respective amounts payable
on the Junior Notes 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 Notes by such party (if and as specified in the Lead Securitization
Servicing Agreement or any Non-Lead Servicing Agreement, as applicable), third, to reduce, on a pro rata basis, the amounts
payable on the Junior Notes by the amount necessary to pay additional trust fund expenses (other than unpaid special servicing
fees, workout fees and liquidation fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization Servicing
Agreement) and finally, to the Junior Noteholders.

 

Section 5.          Administration
of the Mortgage Loan.

 

(a)          Subject
to this Agreement (including, without limitation, Section 5(f) below) and the Servicing Agreement, the Lead Securitization Noteholder
(or the 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, except as provided in Section 5(f), the other Noteholders
shall not 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 (including, without limitation,
Section 5(f) below) and the Servicing Agreement, each of the other Noteholders agrees that it shall have no right to, and hereby
presently and irrevocably assigns and conveys to the Lead Securitization Noteholder (or the Servicer acting on behalf of the Lead
Securitization Noteholder) the rights, if any, that the Lead Securitization Noteholder and the other Noteholders have to, (i) call
or cause the Lead Securitization Noteholder to call an Event of Default under the Mortgage Loan, or (ii) exercise

 

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any rights and
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 the Servicer acting on behalf of the Lead Securitization Noteholder) shall not have any fiduciary duty to the other Noteholders
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).

 

Each Senior Noteholder
hereby acknowledges the right and obligation of the Lead Securitization Noteholder (or the Special Servicer acting on behalf of
the Lead Securitization Noteholder), upon the Mortgage Loan becoming a Defaulted Mortgage Loan and the determination by the Special
Servicer to sell the Lead Securitization Note in accordance with the Servicing Agreement, to sell the Non-Lead Securitization Notes
together with the Lead Securitization Note, as notes evidencing the entire senior portion of the Mortgage Loan in accordance with
the terms of the Servicing Agreement. In connection with any such sale, the Special Servicer shall be required to sell such Notes
together as notes evidencing the entire senior portion of the Mortgage Loan and shall require that all offers be submitted to the
Certificate Administrator or the Special Servicer, as applicable, in accordance with the terms of the Servicing Agreement in writing.
The Trustee (based upon an updated Appraisal ordered by the Special Servicer and received by the Trustee (or ordered by the Trustee
if the Special Servicer or any of its Affiliates is an Interested Person)) shall determine whether any cash offer constitutes a
fair price for the Senior Notes (in the manner set forth in the Servicing Agreement) if the highest offeror is an Interested Person,
and any such determination by the Trustee shall be binding upon all parties. Notwithstanding the foregoing, the Lead Securitization
Noteholder (or the Special Servicer acting on behalf of the Lead Securitization Noteholder) shall not be permitted to sell the
Senior Notes without the written consent of each Non-Lead Securitization Noteholder (provided that such consent of a Non-Lead
Securitization Noteholder is not required if the related Non-Lead Securitization Note is held by the Mortgage Loan Borrower or
any Affiliate of the Mortgage Loan Borrower) unless the Special Servicer has delivered to each Non-Lead Securitization Noteholder:
(a) at least 15 Business Days prior written notice of any decision to attempt to sell the Senior Notes; (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 Mortgaged Property, and any documents in the Servicing File reasonably requested by a Non-Lead
Securitization Noteholder that are material to the price of the Senior Notes 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 Subordinate Class Representative (as such term is defined
in the Servicing Agreement)) prior to the proposed sale date, all information and other documents being provided to other offerors
and all leases or other documents that are approved by the Master Servicer or the Special Servicer in connection with the proposed
sale; provided, however, that any Non-Lead Securitization Noteholder may waive any delivery or timing requirements
set forth in this sentence only for itself. Subject to the foregoing, each of the Non-Lead Securitization Noteholders and the Non-Controlling
Class Representatives shall be permitted to submit an offer at any sale of the Senior Notes unless such Person is the Mortgage
Loan Borrower or an agent or Affiliate of the Mortgage Loan Borrower.

 

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Each Non-Lead Securitization
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 the Non-Lead Securitization Notes. Each Non-Lead Securitization Noteholder further agrees that, upon the
request of the Lead Securitization Noteholder (or the Special Servicer acting on behalf of the Lead Securitization Noteholder),
such Non-Lead Securitization Noteholder shall execute and deliver to or at the direction of Lead Securitization Noteholder (or
the Special Servicer acting on behalf of the Lead Securitization Noteholder) such powers of attorney or other instruments as the
Lead Securitization Noteholder (or the Special Servicer acting on behalf of 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
the related original Non-Lead Securitization Note, endorsed in blank, to or at the direction of the Lead Securitization Noteholder
(or the Special Servicer acting on behalf of the Lead Securitization Noteholder) in connection with the consummation of any such
sale.

 

The authority of the
Lead Securitization Noteholder (or the Special Servicer acting on behalf of the Lead Securitization Noteholder) to sell the Non-Lead
Securitization Notes, and the obligations of the Non-Lead Securitization Noteholders to execute and deliver instruments or deliver
the original Non-Lead Securitization Notes upon request of the Lead Securitization Noteholder (or the Special Servicer acting on
behalf 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 applicable Noteholder from the related trust fund established
under the Servicing Agreement in connection with a material breach of representation or warranty made by such Noteholder with respect
to the Lead Securitization Note or a material document defect with respect to the documents delivered by such Noteholder with respect
to Lead Securitization Note upon the consummation of the Lead Securitization. The preceding sentence shall not be construed to
grant to any Non-Lead Securitization Noteholder the benefit of any representation or warranty made by the Noteholder that holds
the Lead Securitization Note as of the date hereof or any document delivery obligation imposed on such Noteholder under any mortgage
loan purchase and sale agreement, instrument of transfer or other document or instrument that may be executed or delivered by such
Noteholder in connection with the Lead Securitization.

 

(b)          The
administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement; provided that to
the extent of any conflict between this Agreement and the Servicing Agreement, the terms of this Agreement shall control.
The Noteholders agree to be bound by the terms of the Servicing Agreement. The Lead Securitization Noteholder (or the Servicer
on its behalf) shall service the Mortgage Loan in accordance with the terms of this Agreement, including without limitation the
rights of the Junior Noteholders set forth in Section 5(f) below. After the First Securitization, servicing of the Mortgage Loan
shall generally 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 this Agreement. 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 Lead

 

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Securitization Noteholder, the Non-Lead Securitization Noteholders and the Junior Noteholders as a collective whole
(it being understood that the interest of each Junior Noteholder is a junior Note interest, subject to the terms and conditions
of this Agreement), and any Non-Lead Securitization Noteholder or Junior Noteholder who is not a Mortgage Loan Borrower Related
Party shall be deemed a third party beneficiary of such provisions of the Servicing Agreement. The foregoing provisions of this
Section 5(b) shall not limit or modify the rights of the Controlling Noteholder and/or the Operating Advisor to exercise their
respective rights specifically set forth under this Agreement.

 

(c)          Notwithstanding
anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement and this Agreement
(including, without limitation, Section 6) if the Servicer (on behalf of the Noteholders) in connection with a Workout of the Mortgage
Loan modifies the terms thereof such that (i) the unpaid principal balance of the Mortgage Loan is decreased, (ii) the Interest
Rate or scheduled amortization payments on such Mortgage Loan are reduced, (iii) payments of interest or principal on the Mortgage
Loan are waived, reduced or deferred, or (iv) any other adjustment (other than an increase in the Interest Rate or increase in
scheduled amortization payments) is made to any of the terms of the Mortgage Loan, all payments to the Senior Noteholders pursuant
to Section 3 and Section 4, as applicable, shall be made as though such Workout did not occur, with the payment terms of the Senior
Notes remaining the same as they are on the date hereof, the Junior Notes shall bear the full economic effect of all waivers, reductions
or deferrals of amounts due on the Mortgage Loan attributable to such Workout (up to the amount otherwise due on the Junior Notes).
Subject to the Servicing Agreement and this Agreement (including without limitation Section 5(f) and Section 6), in the case of
any modification or amendment described above, the Servicer (on behalf of the Noteholders) shall have the sole authority and ability
to revise the payment provisions set forth in Section 3 and Section 4 above in a manner that reflects the subordination of the
Junior Notes to the Senior Notes with respect to the loss that is the result of such amendment or modification, including: (A)
the ability to increase the Senior Note Percentage Interest and to reduce the Junior Note Percentage Interest in a manner that
reflects a loss in principal as a result of such amendment or modification and (B) the ability to change the Senior Note Rate and
the Junior Note Rate, as applicable, in order to reflect a reduction in the Interest Rate of the Mortgage Loan, but shall not be
permitted to change the order of the clauses set forth in Section 3 and Section 4 hereof. Notwithstanding the foregoing, if any
Workout, modification or amendment of the Mortgage Loan extends the original maturity date of the Mortgage Loan, for purposes of
this paragraph, the Balloon Payment will be deemed not to be due on the original maturity date of the Mortgage Loan but will be
deemed due on the extended maturity date of the Mortgage Loan.

 

(d)          All
rights and obligations of the Senior Noteholders described hereunder may be exercised by the Servicer on behalf of the Senior Noteholders
in accordance with the Servicing Agreement and this Agreement.

 

(e)          For
so long as any Senior Note or any portion thereof 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 Senior Notes and the Junior 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

 

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behalf of the Senior 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) the Lead Securitization Noteholder may not 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 Lead Securitization Noteholder 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
earliest startup day of any REMIC which includes any Senior Note or any portion thereof. 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 solely by the Senior Noteholders on
a Pro Rata and Pari Passu Basis.

 

Anything herein or in
the Servicing Agreement to the contrary notwithstanding, in the event that any Senior Note or any portion thereof is included in
a REMIC, no Junior Noteholder or any Noteholder whose Note is not included in such REMIC shall be required to reimburse the Noteholder
whose Note is included in such REMIC or any other Person for payment of (i) any taxes imposed on such REMIC, (ii) any costs or
expenses relating to the administration of such REMIC or to any determination respecting the amount, payment or avoidance of any
tax under such REMIC or (iii) any advances for any of the foregoing or any interest thereon or for deficits in other items of disbursement
or income resulting from the use of funds for payment of any such taxes, costs or expenses or advances, nor shall any disbursement
or payment otherwise distributable to any other Noteholder be reduced to offset or make-up any such payment or deficit.

 

(f)           Except
as hereinafter provided, if any consent, modification, amendment or waiver under or other action in respect of the Mortgage Loan
or the Mortgage Loan Documents (whether or not a Servicing Transfer Event has occurred and is continuing) that would constitute
a Major Decision has been requested or proposed, at least five (5) Business Days (or ten (10) Business Days if the Note B-1 Holder
is the Controlling Noteholder) prior to taking action with respect to such Major Decision (or making a determination not to take
action with respect to such Major Decision), the Lead Securitization Noteholder (or the Servicer acting on its behalf) must receive
the written consent of the Controlling Noteholder (or its Operating Advisor) before implementing a decision with respect to such
Major Decision. For the avoidance of doubt, except as hereinafter provided, the Senior Noteholders shall obtain the written consent
of the Controlling Noteholder (or its Operating Advisor) for all Major Decisions. If the Note B-1 Holder is the Controlling Noteholder,
then the Note B-1 Holder shall consult with the other Junior Noteholders for the purposes of approving or rejecting any Major Decision
and shall notify the Lead Securitization Noteholder (or the Servicer acting on its behalf) in writing and within the applicable
period specified in this paragraph of Section 5(f) of such approval or

 

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rejection, which determination shall require 66%
of the Junior Note Principal Balance (and, if any one or more Junior Noteholders is then an Athene Junior Noteholder, at least
one voter must be an Athene Junior Noteholder). In the event that a Non-Athene Junior Noteholder does not respond to the Note B-1
Holder within the time period that would enable the Note B-1 Holder to respond to the Lead Securitization Noteholder as required
under the following paragraph, then such Non-Athene Junior Noteholder shall be deemed to have approved such Major Decision. If
the Note B-1 Holder has not obtained the requisite amount of votes from the Junior Noteholders to make such determination, then
the Note B-1 Holder shall notify the Lead Securitization Noteholder (or the Servicer acting on its behalf) in writing and within
the applicable period specified in this paragraph of Section 5(f) that the Controlling Noteholder has rejected such Major
Decision.

 

For so long as the Note
B-1 Holder is the Controlling Noteholder, if the Lead Securitization Noteholder (or the Servicer acting on its behalf) has not
received a response from the Controlling Noteholder (or its Operating Advisor) with respect to such Major Decision within five
(5) Business Days after delivery of the notice of a Major Decision, the Lead Securitization Noteholder (or the Servicer acting
on its behalf) shall deliver an additional copy of the notice of a Major Decision in all caps bold 14-point font: “This is
a Second Notice. Failure to respond within five (5) Business Days of this Second Notice will result in a loss of your right to
consent with respect to this decision.” and if the Controlling Noteholder (or its Operating Advisor) fails to respond to
the Lead Securitization Noteholder (or the Servicer acting on its behalf) with respect to any such proposed action within five
(5) Business Days after receipt of such second notice, the Controlling Noteholder (or its Operating Advisor), as applicable, shall
have no further consent rights with respect to such action.

 

Notwithstanding the foregoing,
following the occurrence of an extraordinary event with respect to any Mortgaged Property, or if a failure to take any such action
at such time would be inconsistent with the Servicing Standard, the Lead Securitization Noteholder (or the Servicer acting on its
behalf) may take actions with respect to such Mortgaged Property before obtaining the consent of the Controlling Noteholder (or
its Operating Advisor) if the Lead Securitization Noteholder (or the Servicer acting on its behalf) 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, and the Lead Securitization Noteholder (or the Servicer acting on its behalf) has made a reasonable effort
to contact the Controlling Noteholder (or its Operating Advisor). The foregoing shall not relieve the Lead Securitization Noteholder
(or the Servicer acting on its behalf) of its duties to comply with the Servicing Standard.

 

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

 

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Mortgage Loan, or materially expand the scope of any Lead Securitization Noteholder’s
(or the Servicer’s) responsibilities under this Agreement or the Servicing Agreement.

 

(g)          During
the continuation of a Control Appraisal Period, the Lead Securitization Noteholder (or its Controlling Class Representative) shall
have, with respect to the Mortgage Loan, all of the same rights and powers of the Controlling Class Representative under the Servicing
Agreement with respect to the other mortgage loans included in the Lead Securitization, including without limitation, (i) the right
to consent and/or consult regarding Major Decisions and other servicing matters, (ii) the right to advise (A) the Special Servicer
with respect to all Specially Serviced Loans and (B) 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 (iii) 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 and conditions of the Servicing Agreement.

 

Notwithstanding the foregoing,
the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall be required to provide copies of any notice, information
and report that it is required to provide to the Controlling Class Representative pursuant to the Servicing Agreement with respect
to any Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage
Loan, to each Non-Controlling Noteholder (or its controlling class representative), within the same time frame it is required to
provide to the Controlling Class Representative (for this purpose, without regard to whether such items are actually required to
be provided to the Controlling Class Representative under the Servicing Agreement due to the occurrence of a Control Termination
Event (as defined in the Servicing Agreement) or a Consultation Termination Event (as defined in the Servicing Agreement)).

 

The Lead Securitization
Noteholder (or the Special Servicer on its behalf) shall be required to consult with each Non-Controlling Noteholder (or its controlling
class representative) on a strictly non-binding basis, to the extent having received such notices, information and reports, such
Non-Controlling Noteholder (or its controlling class representative) requests consultation with respect to any Major Decisions
or the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, and consider
alternative actions recommended by such Non-Controlling Noteholder (or its controlling class representative); provided that after
the expiration of a period of ten (10) Business Days from the delivery to the Non-Controlling Noteholders (or their respective
controlling class representatives) by the Lead Securitization Noteholder (or the Servicer acting on its behalf) of written notice
of a proposed action, together with copies of the notice, information and report required to be provided to the Controlling Class
Representative, the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall no longer be obligated to consult
with the Non-Controlling Noteholders (or their respective controlling class representatives), whether or not the Non-Controlling
Noteholders (or their respective controlling class representatives) have responded within such ten (10) Business Day period (unless,
the Lead Securitization Noteholder (or the Servicer acting on its behalf) proposes a new course of action that is materially different
from the action previously proposed, in which case such ten (10) Business Day period shall be deemed to begin anew from the date
of such proposal and delivery of all information relating

 

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thereto). Notwithstanding the consultation rights of the Non-Controlling
Noteholders (or their respective controlling class representatives) set forth in the immediately preceding sentence, the Lead Securitization
Noteholder (or 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 Noteholder (or Servicer acting
on its behalf) reasonably determines in accordance with the Servicing Standard that failure to take such actions prior to consultation
would materially and adversely affect the interests of the Noteholders. In no event shall the Lead Securitization Noteholder (or
Servicer acting on its behalf) be obligated at any time to follow or take any alternative actions recommended by a Non-Controlling
Noteholder (or its controlling class representative).

 

In addition to the consultation
rights of the Non-Controlling Noteholders (or their respective controlling class representatives) provided in the immediately preceding
paragraph, the Non-Controlling Noteholders shall have the right to attend annual meetings (either telephonically or in person,
in the discretion of the Servicer) with the Lead Securitization Noteholder (or the Servicer acting on its behalf) at the offices
of the Servicer, upon reasonable notice and at times reasonably acceptable to the Servicer, during which servicing issues related
to the Mortgage Loan are discussed.

 

(h)          The
Controlling Noteholder shall be entitled to avoid its applicable Control Appraisal Period caused by application of an Appraisal
Reduction Amount (as opposed to a Control Appraisal Period that is deemed to have occurred as a result of any Mortgage Loan Borrower
Related Party holding an interest in any of the Junior Notes or the existence of any circumstances that would otherwise permit
any Mortgage Loan Borrower Related Party to exercise the rights of the Note B-1 Holder as Controlling Noteholder) upon satisfaction
of the following (which must be completed within thirty (30) days of the receipt of an Appraisal that indicates such Control Appraisal
Period has occurred): (i) the Controlling Noteholder shall have delivered as a supplement to the appraised value of the Mortgaged
Property, in the amount specified in clause (ii) below, to the Servicer, together with documentation acceptable to the Servicer
in accordance with the Servicing Standard to create and perfect a first priority security interest in favor of the Lead Securitization
Noteholder in such collateral (A) cash collateral for the benefit of, and acceptable to, the Servicer or (B) an unconditional and
irrevocable standby letter of credit with the Lead Securitization Noteholder as the beneficiary, in form reasonably acceptable
to the Servicer, issued by a bank or other financial institution the long term unsecured debt obligations of which are at all times
rated at least “AA” by S&P, “A” by Fitch and “Aa2” by Moody’s or the short term obligations
of which are rated at least “A-1+” by S&P, “F-1” by Fitch and “P-1” by Moody’s (either
(A) or (B), the “Threshold Event Collateral”), and (ii) the Threshold Event Collateral shall be in an amount
which, when added to the appraised value of the Mortgaged Property as determined pursuant to the Servicing Agreement, would cause
the applicable Control Appraisal Period not to occur. If the requirements of this paragraph are satisfied by the Controlling Noteholder
(a “Threshold Event Cure”), no Control Appraisal Period caused by application of an Appraisal Reduction Amount
shall be deemed to have occurred. If a letter of credit is furnished as Threshold Event Collateral, the applicable Controlling
Noteholder shall be required to renew such letter of credit not later than thirty (30) days prior to expiration thereof or to replace
such letter of credit with cash collateral as described in clause (A) or a new letter of credit that satisfies the requirements
set forth in clause (B) with an expiration date that is greater than forty-five (45) days from the date of such replacement; provided,
however, that, if a

 

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letter of credit is not renewed prior to thirty (30) days prior to the expiration date of such letter
of credit, the letter of credit shall provide that the Servicer may (and, at the direction of the applicable Controlling Noteholder,
shall) draw upon such letter of credit and hold the proceeds thereof as Threshold Event Collateral. If a letter of credit is furnished
as Threshold Event Collateral, the applicable Controlling Noteholder shall be required to replace such letter of credit with other
Threshold Event Collateral within 30 days if the credit rating of the issuing entity is downgraded below the applicable required
rating; provided, however, that, if such Threshold Collateral is not so replaced, the Servicer shall draw upon such
letter of credit and hold the proceeds thereof as Threshold Event Collateral. The Threshold Event Cure shall continue until (1)
the appraised value of the Mortgaged Property plus the value of the Threshold Event Collateral would not be sufficient to prevent
a Control Appraisal Period from occurring; or (2) the occurrence of a Final Recovery Determination. If the appraised value of the
Mortgaged Property, upon any redetermination thereof, is sufficient to avoid the occurrence of a Control Appraisal Period without
taking into consideration any, or some portion, of Threshold Event Collateral previously delivered by the Controlling Noteholder,
all, or such portion, of Threshold Event Collateral held by the Servicer (to the extent not required to avoid the occurrence of
a Control Appraisal Period) shall promptly be returned to such Controlling Noteholder (at its sole cost and expense). Upon a Final
Recovery Determination with respect to the Mortgage Loan, such Threshold Event Collateral shall be available to reimburse each
Noteholder for any realized loss pursuant to Section 3 or 4, as applicable, with respect to the Mortgage Loan after application
of the net proceeds of liquidation, not in excess of the Senior Note Principal Balance and the Junior Note Principal Balance, as
the case may be, plus accrued and unpaid interest thereon at the applicable interest rate and all Additional Servicing Expenses
reimbursable under this Agreement and under the Servicing Agreement. Any Threshold Event Collateral shall be treated as an “outside
reserve fund” for purposes of the REMIC Provisions and such property (and the right to reimbursement of any amounts with
respect thereto from a REMIC) shall be beneficially owned by the posting Noteholder who shall be taxed on all income with respect
thereto. The entire amount of Threshold Event Collateral, without a haircut or other reduction, shall be considered in determining
the sufficiency of such Threshold Event Collateral to avoid a Control Appraisal Period.

 

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

 

(j)           Notwithstanding
anything to the contrary contained herein or in the Servicing Agreement, if at any time the Mortgage Loan Borrower Related 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 a Junior Note, and the Master Servicer or Special
Servicer (as the case may be) shall disregard the fact that the

 

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Borrower Party Noteholder is either the Mortgage Loan Borrower
or an Affiliate of the Mortgage Loan Borrower and as such, may have conflicting interests from a Noteholder (in its capacity as
a Noteholder).

 

Section 6.          Appointment
of Operating Advisor.

 

(a)          The
Controlling Noteholder shall have the right at any time to appoint an operating advisor to exercise its rights hereunder (the “Operating
Advisor”). The Controlling Noteholder shall have the right in its sole discretion at any time and from time to time to
remove and replace the Operating Advisor. 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 Operating Advisor. The Operating Advisor may be any Person,
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; provided that the Operating Advisor may not be a Mortgage
Loan Borrower Related Party. No Operating Advisor shall owe any fiduciary duty or other duty to any 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
Operating Advisor acting on behalf of the Controlling Noteholder and the Lead Securitization Noteholder (or any Servicer acting
on its behalf) will accept such actions of the Operating Advisor 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 an Operating Advisor until the Controlling
Noteholder has notified the Lead Securitization Noteholder (and any Servicer) of such appointment and, if the Operating Advisor
is not the same Person as the Controlling Noteholder, the Operating Advisor provides the Lead Securitization Noteholder (and any
Servicer) 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 Lead Securitization Noteholder shall promptly deliver
such information to any Servicer.

 

(b)          Neither
the Operating Advisor nor the Controlling Noteholder shall have any liability to the other Noteholders or any other Person for
any action taken, or for refraining from the taking of any action or in the giving of any consent or the failure to give any consent
pursuant to this Agreement or the 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 Senior Noteholders and the Junior Noteholders agree that
the Operating Advisor and any Controlling Noteholder (whether acting in place of the Operating Advisor when no Operating Advisor
shall have been appointed hereunder or otherwise exercising any right, power or privilege granted to the Controlling Noteholder
hereunder) may take or refrain from taking actions that favor the interests of one Noteholder over any other Noteholder, and that
the Operating Advisor 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 Operating Advisor or such Controlling Noteholder, as the
case may be, agree to take no action against the Operating Advisor, 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 Operating
Advisor nor such Controlling Noteholder will be deemed to have been negligent or reckless, or to have acted in bad faith or engaged
in willful misfeasance or to

 

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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)          If
the Lead Securitization Noteholder is the Controlling Noteholder, the Junior Noteholders acknowledge and agree (i) all of the aforementioned
rights of the Controlling Noteholder and the Operating Advisor set forth in Section 5(f) 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 and (ii) the Controlling Class Representative of such Lead Securitization may exercise all rights with
respect to the Mortgage Loan and any decisions or consents or other powers with respect thereto as are set forth in the Servicing
Agreement.

 

If neither the Lead Securitization
Noteholder nor the Note B-1 Holder is the Controlling Noteholder, the Junior Noteholders acknowledge and agree all of the aforementioned
rights of the Controlling Noteholder and the Operating Advisor set forth in Section 5(f) and this Section 6 shall be exercisable
by a Senior Noteholder that is the then Controlling Noteholder pursuant to the definition of “Controlling Noteholder”
in this Agreement.

 

Section 7.         Special
Servicer.  The Controlling Noteholder (or its Operating Advisor), 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 to appoint the Special Servicer with respect to the Mortgage Loan. The Controlling Noteholder (or its Operating
Advisor) shall be entitled to terminate the rights and obligations of the Special Servicer under the Lead Securitization Servicing
Agreement, with or without cause, upon at least ten (10) Business Days’ prior notice to the Special Servicer (provided,
however, that the Controlling Noteholder and its Operating Advisor 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 be effective unless
and until: (A) each Rating Agency delivers Rating Agency Confirmation (to the extent the Mortgage Loan or any portion thereof
has been securitized); (B) the applicable successor Special Servicer has assumed in writing all of the responsibilities, duties
and liabilities of the Special Servicer under the Lead Securitization 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 Lead Securitization 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 (or the Servicer on its behalf) shall promptly provide copies to any terminated
Special Servicer of the documents referred to in the preceding sentence.

 

If a Servicer Termination
Event on the part of the Special Servicer has occurred that affects a Non-Controlling Noteholder, such Non-Controlling Noteholder
shall have the right to direct the Trustee (or, at any time that neither the Mortgage Loan nor any portion thereof is included
in a Securitization Trust, the Controlling Noteholder) to terminate the Special Servicer under the Lead Securitization Servicing
Agreement (or at any time that the Mortgage Loan is no

 

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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 Noteholder shall be entitled to appoint a replacement Special Servicer
in connection with a termination of the Special Servicer at the direction of a Non-Controlling Noteholder, subject to the satisfaction
of the requirements of the Lead Securitization Servicing Agreement and this Agreement. The Noteholders 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 a Non-Controlling Noteholder’s direction cannot at any time be the Person (or an Affiliate thereof) that was
so terminated without the prior written consent of such Non-Controlling Noteholder. The Non-Controlling Noteholder that directs
the Trustee (or, at any time that neither the Mortgage Loan nor any portion thereof is included in a Securitization Trust, the
Controlling Noteholder) to terminate the Special Servicer shall be solely responsible for reimbursing the Trustee’s or the
Controlling Noteholder’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 under the Lead Securitization Servicing Agreement.

 

For the avoidance of
doubt, in no event will the rights of the Non-Controlling Noteholders set forth in the immediately preceding paragraph in any way
limit or diminish the rights of the Controlling Noteholder otherwise set forth in this Section 7.

 

The Controlling Noteholder
agrees and acknowledges that the Lead Securitization Servicing Agreement may contain provisions such that any Special Servicer
could be terminated under the Lead Securitization Servicing Agreement based on a recommendation by the Securitization Operating
Advisor if (A) the Securitization 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 certificate holders 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, the Special Servicer or the Trustee acting on its behalf), in accordance
with the priorities set forth in Section 3 or 4, as applicable and subject to the terms of the Lead Securitization Servicing Agreement,
shall deposit or cause to be deposited all payments allocable to the Notes to the “Collection Account” and/or “Serviced
Companion Loan Custodial Account” (or the related analogous term and each as defined in the Lead Securitization Servicing
Agreement) pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Noteholder (or
the Master Servicer, the Special Servicer or the Trustee acting on its behalf) shall

 

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deposit such amounts to the applicable account
within one (1) Business Day of receipt of properly identified and available funds by the Lead Securitization Noteholder (or the
Master Servicer acting on its behalf) from or on behalf of the Mortgage Loan Borrower (provided, that to the extent that
any payment is received after 2:00 p.m. (Eastern time) on any given Business Day, the Master Servicer is required to use commercially
reasonable efforts to deposit such payment into the applicable account within one (1) Business Day of receipt of properly identified
and available funds, but, in any event, the Master Servicer is required to deposit such payments into the applicable account within
two (2) Business Days of receipt of properly identified and available funds).

 

(b)          If
the Lead Securitization 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 the Senior Notes or the Junior Notes must, pursuant to any insolvency
bankruptcy, fraudulent conveyance, preference or similar law, be (i) returned to the Mortgage Loan Borrower or the Guarantor or
(ii) paid to the Lead Securitization Noteholder, any other Noteholder or any Servicer or (iii) paid to any other Person, then,
notwithstanding any other provision of this Agreement, (A) the Lead Securitization Noteholder (or the Servicer on its behalf) shall
not be required to distribute any portion thereof to any Noteholder (including the Lead Securitization Noteholder) and (B) each
Noteholder (including the Lead Securitization 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) the applicable 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 (or the Servicer on its behalf) shall be (or
shall have been) required to pay to the Mortgage Loan Borrower, the Guarantor, the Lead Securitization Noteholder, any other Noteholder,
any Servicer 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, 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), who shall allocate such excess in accordance with this Agreement and the Servicing Agreement. The Lead
Securitization Noteholder (or the Servicer on its behalf) shall have the right to offset any amounts due hereunder from any Noteholder
with respect to the Mortgage Loan against any future payments due to such Noteholder under the Mortgage Loan in accordance with
this Agreement and the Servicing Agreement; provided that the obligations of any Noteholder under this Section 8 are separate
and distinct obligations from the obligations of any other Noteholder under this Section 8 and in no event shall the Lead Securitization

 

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Noteholder (or the Servicer on its behalf) enforce the obligations of any Noteholder under this Section 8 against any other Noteholder.
The Noteholders’ obligations under this Section 8 constitute absolute, unconditional and continuing obligations.

 

Section 9.         Limitation
on Liability of the Noteholders.    The Lead Securitization Noteholder (and any Servicer acting on its
behalf) shall have no liability to the other Noteholders with respect to their respective Notes except with respect to losses
actually suffered due to the negligence, willful misconduct or breach of this Agreement on the part of the Lead Securitization
Noteholder (or any Servicer acting on its behalf); provided however, following the Securitization Date, to the extent the Servicing
Agreement imposes any other standard on any Servicer, the Servicing Agreement shall control. No other Noteholder shall have any
liability to the Lead Securitization Noteholder (or any Servicer acting on its behalf) with respect to its Note except with respect
to losses actually suffered due to the negligence, willful misconduct or breach of this Agreement on the part of such other Noteholder
(or any servicer acting on its behalf or, if applicable, its Operating Advisor).

 

Each Noteholder acknowledges
that, subject to the terms and conditions hereof and the obligation of the Lead Securitization Noteholder (and any Servicer acting
on its behalf) to comply with the Servicing Standard, the Lead Securitization Noteholder (or any Servicer acting on its behalf)
may exercise, or omit to exercise, any rights that the Lead Securitization Noteholder may have under this Agreement and the Servicing
Agreement in a manner that may be adverse to the interests of any Noteholder and that the Lead Securitization Noteholder (and any
Servicer acting on its behalf) shall have no liability whatsoever to any Noteholder in connection with the Lead Securitization
Noteholder’s (or any Servicer’s) exercise of rights or any omission by the Lead Securitization Noteholder (or any Servicer
acting on its behalf) to exercise such rights other than as described above; provided, however, that the Servicer
must act in accordance with the Servicing Standard, and the Lead Securitization Noteholder (or any Servicer acting on its behalf)
shall not be protected against any liability to the other Noteholders that would otherwise be imposed by reason of willful misfeasance,
bad faith or negligence on the part of the Lead Securitization Noteholder (or any Servicer acting on its behalf).

 

The Lead Securitization
Noteholder and the Non-Lead Securitization Noteholders acknowledge that, subject to the terms and conditions hereof, the Junior
Noteholders may exercise, or omit to exercise, any rights that the Junior Noteholders may have under this Agreement and the Servicing
Agreement in a manner that may be adverse to the interests of the Lead Securitization Noteholder or the Non-Lead Securitization
Noteholders and that the Junior Noteholders (and any servicer acting on their behalf or, if applicable, the Operating Advisor)
shall have no liability whatsoever to the Lead Securitization Noteholder or the Non-Lead Securitization Noteholders in connection
with the exercise of rights or any omission by the Junior Noteholders to exercise such rights; provided, however,
that the Junior Noteholders (and any servicer acting on their behalf or, if applicable, the Operating Advisor) shall not be protected
against any liability to the Lead Securitization Noteholder or the Non-Lead Securitization Noteholders that would otherwise be
imposed by reason of willful misfeasance, bad faith or negligence on the part of the Junior Noteholders (and any servicer acting
on their behalf or, if applicable, the Operating Advisor).

 

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Section
10.          Bankruptcy. Subject to the provisions of Section 5(f)
hereof, each of the Non-Lead Securitization Noteholders and the Junior Noteholders 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, each of the Non-Lead Securitization
Noteholders and the Junior Noteholders 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. Each of the Non-Lead Securitization Noteholders and the Junior Noteholders 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 exercising any and all rights and taking any and all actions
available to any Non-Lead Securitization Noteholder or any Junior Noteholder 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, to 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. Each of the Non-Lead Securitization Noteholders and the Junior Noteholders, in its
capacity as such, hereby agrees that, upon the request of the Lead Securitization Noteholder, such 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 the Servicer in connection with any Insolvency Proceeding are subject
to and must be in accordance with the Servicing Standard.

 

Section 11.          Cure
Rights of the Controlling Noteholder.

 

(a)          Subject
to Section 11(b) below, in the event that the Mortgage Loan Borrower fails to make any payment of a liquidated sum of money due
on the Mortgage Loan by the end of the applicable grace period (if any) for such payment permitted under the Mortgage Loan Documents
(a “Monetary Default”), the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall provide
notice of such failure to the Junior Noteholders (while the Note B-1 Holder is the Controlling Noteholder) and the Operating Advisor
(while the Note B-1 Holder is the Controlling Noteholder) (in each case, a “Monetary Default Notice”). If the
Junior Noteholders (while the Note B-1 Holder is the Controlling Noteholder) or the Operating Advisor (while the Note B-1 Holder
is the Controlling Noteholder) have not cured such Monetary Default within three (3) Business Days after receiving the related
Monetary Default Notice, the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall deliver an additional
copy of the Monetary Default Notice that contains a statement in boldface font that this is a second notice and that the Junior
Noteholders’ or the Operating Advisor’s failure to cure such Monetary Default within five (5) Business Days after receiving
such second notice will result in the

 

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termination of the right to cure such Monetary Default. The Junior Noteholders (while the
Note B-1 Holder is the Controlling Noteholder) or the Operating Advisor (while the Note B-1 Holder is the Controlling Noteholder)
shall have the right, but not the obligation, subject to the rights of any Mezzanine Lender set forth in the related intercreditor
agreement, to cure such Monetary Default after receiving the first Monetary Default Notice and until the period ending five (5)
Business Days after receiving the second Monetary Default Notice (the “Cure Period”) and at no other times.
At the time a payment is made to cure a Monetary Default as permitted hereunder, the curing Junior Noteholder(s) (or the Operating
Advisor) shall pay or reimburse the Lead Securitization Noteholder for all unreimbursed Advances (whether or not recoverable with
respect to the Lead Securitization Note or any Non-Lead Securitization Note, including principal and interest advances made with
respect to such Non-Lead Securitization Note under the related Non-Lead Securitization Servicing Agreement), Advance Interest Amounts,
any unpaid fees to any Servicer or Non-Lead Servicer specifically provided for in the Lead Securitization Servicing Agreement and
any Additional Servicing Expenses. At any time (while the Note B-1 Holder is the Controlling Noteholder) the Junior Noteholders
or the Operating Advisor believe that a Monetary Default has occurred, the Junior Noteholders and the Operating Advisor shall have
the right (i) to send a written notice to the Servicer requesting written confirmation as to whether a Monetary Default has occurred
and is continuing and, if the Servicer provides any such written confirmation indicating that a Monetary Default has occurred and
is continuing, the Junior Noteholders or the Operating Advisor may proceed with exercising their cure rights as set forth herein,
and (ii) pending its receipt of any written confirmation described in the foregoing clause (i), to tender a cure payment
to the Servicer in the amount it reasonably believes necessary to cure such potential Monetary Default, which cure payment shall
either be (A) in the event a Monetary Default has occurred, retained and applied to the cure of such Monetary Default in accordance
with the terms hereof, or (B) in the event that no Monetary Default has occurred, returned by the Servicer to the Junior Noteholders
or the Operating Advisor, as applicable. If the amount of a cure payment tendered by the curing Junior Noteholder(s) or the Operating
Advisor in accordance with this Section 11(a) is less than the amount necessary to effect a cure of a Monetary Default, such payment
shall not effect a cure, but the Junior Noteholders or the Operating Advisor may effect a cure if they pay any deficiency within
the applicable Cure Period in accordance with this Section 11(a). If the amount of a cure payment tendered by the Junior Noteholders
or the Operating Advisor exceeds the amount necessary to effect a cure, the Servicer shall return such excess to the Junior Noteholders
or the Operating Advisor, as applicable. The Junior Noteholders or the Operating Advisor (to the extent it is permitted to effect
a cure hereunder) shall not be required, in order to effect a cure hereunder, to pay any default interest or late charges under
the Mortgage Loan Documents. So long as a Monetary Default exists for which a cure payment permitted hereunder is timely made,
such Monetary Default shall not be treated as an Event of Default by the Lead Securitization Noteholder (or any Servicer on its
behalf) (including for purposes of (1) the definition of “Sequential Pay Event,” (2) accelerating the Mortgage Loan,
modifying, amending or waiving any provisions of the Mortgage Loan Documents or commencing proceedings for foreclosure or the taking
of title by deed-in-lieu of foreclosure or other similar legal proceedings with respect to the Mortgaged Property; or (3) treating
the Mortgage Loan as a Specially Serviced Loan); provided that such limitation shall not prevent the Lead Securitization
Noteholder (or any Servicer on its behalf) from collecting default interest or late charges from the Mortgage Loan Borrower. Any
amounts advanced by the Junior

 

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Noteholders or the Operating Advisor (to the extent permitted hereunder) to effect any cure shall
be reimbursable to the Junior Noteholders under Section 3 or 4, as applicable.

 

(b)          Notwithstanding
anything to the contrary contained in Section 11(a), the Junior Noteholders and the Operating Advisor shall be limited to a combined
total of six (6) cures of Monetary Defaults, no more than three (3) of which may be consecutive, or Non-Monetary Defaults over
the term of the Mortgage Loan. Additional Cure Periods or additional Non-Monetary Default Cure Periods shall only be permitted
with the consent of the Lead Securitization Noteholder.

 

(c)          No
action taken by the Junior Noteholders (or the Operating Advisor) in accordance with this Agreement to cure any Event of Default
shall excuse performance by the Mortgage Loan Borrower of its obligations under the Mortgage Loan Documents and the Lead Securitization
Noteholder’s and the Non-Lead Securitization Noteholders’ rights under the Mortgage Loan Documents shall not be waived
or prejudiced by virtue of such actions of the Junior Noteholders (or the Operating Advisor) under this Agreement. Subject to the
terms of this Agreement, the Junior Noteholders shall be subrogated to the Lead Securitization Noteholder’s and the Non-Lead
Securitization Noteholders’ rights to any payment owing to the Lead Securitization Noteholder and the Non-Lead Securitization
Noteholders for which the Junior Noteholders (or the Operating Advisor) make a cure payment as permitted under this Section 11,
but such subrogation rights may not be exercised against the Mortgage Loan Borrower until 91 days after the Senior Notes is paid
in full.

 

(d)          If
an Event of Default (other than a Monetary Default) occurs and is continuing under the Mortgage Loan Documents (a
“Non-Monetary Default”), the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall
promptly provide notice to the Junior Noteholders (while the Note B-1 Holder is the Controlling Noteholder) and the Operating
Advisor (while the Note B-1 Holder is the Controlling Noteholder) of such failure (a “Non-Monetary Default
Notice”) and the Junior Noteholders (while the Note B-1 Holder is the Controlling Noteholder) and the Operating
Advisor (while the Note B-1 Holder is the Controlling Noteholder) shall have the right, but not the obligation, subject to
the rights of any Mezzanine Lender set forth in the related intercreditor agreement, to cure such Non-Monetary Default within
the same period of time as the Mortgage Loan Borrower under the Mortgage Loan Documents, without regard for the date of
receipt by the Junior Noteholders (while the Note B-1 Holder is the Controlling Noteholder) or the Operating Advisor (while
the Note B-1 Holder is the Controlling Noteholder) of the related Non-Monetary Default Notice, or in any event, up to 40
days, to cure such Non-Monetary Default; provided, however, if such Non-Monetary Default is susceptible of cure
but cannot reasonably be cured within such period and if curative action was promptly commenced and is being diligently
pursued by the Junior Noteholders (while the Note B-1 Holder is the Controlling Noteholder) or the Operating
Advisor (while the Note B-1 Holder is the Controlling Noteholder), the Junior Noteholders (while the Note B-1 Holder is the Controlling
Noteholder) or the Operating Advisor (while the Note B-1 Holder is the Controlling Noteholder) shall be given an additional period
of time as is reasonably necessary to enable the Junior Noteholders (while the Note B-1 Holder is the Controlling Noteholder) or
the Operating Advisor (while the Note B-1 Holder is the Controlling Noteholder), in the exercise of due diligence, to cure such
Non-Monetary Default for so long as (i) the Junior Noteholders (while the Note B-1 Holder is the Controlling Noteholder) or the

 

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 Operating Advisor (while the Note B-1 Holder is the Controlling Noteholder) diligently and expeditiously proceeds to cure such
Non-Monetary Default, (ii) the Junior Noteholders (while the Note B-1 Holder is the Controlling Noteholder) or the Operating Advisor
(while the Note B-1 Holder is the Controlling Noteholder) makes all cure payments that it is permitted to make in accordance with
the terms and provisions of Section 11(a) hereof, (iii) such additional period of time does not exceed sixty (60) days, (iv) such
Non-Monetary Default is not caused by an Insolvency Proceeding and, during such period of time that the Junior Noteholders (while
the Note B-1 Holder is the Controlling Noteholder) or the Operating Advisor (while the Note B-1 Holder is the Controlling Noteholder)
have to cure a Non-Monetary Default in accordance with this Section 11(d) (the “Non-Monetary Default Cure Period”),
an Insolvency Proceeding does not occur and (v) during the applicable Non-Monetary Default Cure Period, there is no material adverse
effect on the Mortgage Loan Borrower or the Mortgaged Property or the value of the Mortgage Loan as a result of such Non-Monetary
Default or the attempted cure. The applicable Non-Monetary Default Notice shall contain a statement in boldface font that the Junior
Noteholders’ (while the Note B-1 Holder is the Controlling Noteholder) or the Operating Advisor’s (while the Note B-1
Holder is the Controlling Noteholder) failure to cure the related Non-Monetary Default within the applicable Non-Monetary Default
Cure Period after receiving such notice will result in the termination of the right to cure such Non-Monetary Default. The Junior
Noteholders (while the Note B-1 Holder is the Controlling Noteholder) and the Operating Advisor (while the Note B-1 Holder is the
Controlling Noteholder) shall not contact the Mortgage Loan Borrower in order to effect any cures under Section 11(a) or this Section
11(d) unless it is in conjunction with the Special Servicer or the Junior Noteholders (while the Note B-1 Holder is the Controlling
Noteholder) or the Operating Advisor (while the Note B-1 Holder is the Controlling Noteholder) have obtained the prior written
consent of the Lead Securitization Noteholder (or the Servicer on its behalf).

 

Section
12.          Purchase of the Senior Notes By the Junior Noteholders. The Junior Noteholders (or the Operating Advisor acting on
their behalf) shall have the right, by written notice to each Senior Noteholder (a “Noteholder Purchase
Notice”), subject to the rights of any Mezzanine Lender set forth in the related intercreditor agreement, delivered
at any time an Event of Default under the Mortgage Loan has occurred and is continuing, to purchase, in immediately available
funds, the Senior Notes in whole but not in part at the applicable Defaulted Mortgage Loan Purchase Price. For the avoidance
of doubt, if the Junior Noteholders elect to exercise their right to purchase a Note pursuant to this Section 12, they must
purchase each Senior Note. Upon the delivery of the Noteholder Purchase Notice to each Senior Noteholder, the Senior
Noteholders shall sell (and the Junior Noteholders shall purchase) the Senior Notes for an aggregate amount equal to the
applicable Defaulted Mortgage Loan Purchase Price, on a date (the “Defaulted Note Purchase Date”) not less
than ten (10) and not more than thirty (30) days after the date of receipt of the related Noteholder Purchase Notice, as
shall be established by the Lead Securitization Noteholder. The Noteholder Purchase Notice shall contain a statement in
boldface font that the Junior Noteholders’ failure to purchase each of the Senior Notes on the applicable Defaulted
Note Purchase Date will result in the termination of such right. The Junior Noteholders agree that the sale of the Senior
Notes shall comply with all requirements of the Servicing Agreement and that all costs and expenses related thereto shall be
paid by the Junior Noteholders. The Defaulted Mortgage Loan Purchase Price shall be calculated by the Lead Securitization
Noteholder (or the Servicer on its behalf) three (3) Business Days prior to the Defaulted Note Purchase Date (and such
calculation shall be

 

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accompanied by a listing of all amounts included in the Defaulted Mortgage Loan Purchase Price), and
shall, absent manifest error, be binding upon the Junior Noteholders. Concurrently with the payment to each of the
Senior Noteholders in immediately available funds of its respective portion of the applicable Defaulted Mortgage Loan
Purchase Price, each of the Senior Noteholders will execute, at the sole cost and expense of the Junior Noteholders, in favor
of the Junior Noteholders assignment documentation which will assign its Senior Note, and the other Mortgage Loan Documents
without recourse, representations or warranties (except that each Senior Noteholder, shall represent and warrant that it had
good and marketable title to, was the sole owner and holder of, and had power and authority to deliver its Senior Note, free
and clear of all liens and encumbrances (other than the interest of the other Noteholders pursuant to this Agreement)). The
right of the Junior Noteholders to purchase the Senior Notes shall automatically terminate upon a foreclosure sale, sale by
power of sale or delivery of a deed in lieu of foreclosure with respect to the Mortgaged Property (and the Lead
Securitization Noteholder (or the Servicer acting on its behalf) shall give the Junior Noteholders ten (10) days’
notice of its intent with respect to such action). Notwithstanding the foregoing sentence, if title to the Mortgaged Property
is transferred to the Servicer (or other nominee on behalf of the Noteholders) less than ten (10) days after the acceleration
of the Mortgage Loan, the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall notify the Junior
Noteholders of such transfer and the Junior Noteholders shall have fifteen (15) days from the date of such notice from the
Lead Securitization Noteholder (or the Servicer acting on its behalf) to deliver the Noteholder Purchase Notice to the Senior
Noteholders, in which case the Junior Noteholders will be obligated to purchase the Mortgaged Property, in immediately
available funds, within such fifteen (15) days’ at the applicable Defaulted Mortgage Loan Purchase Price.

 

Section
13.          Representations of the Junior Noteholders. Each Junior
Noteholder represents, and it is specifically understood and agreed, that it is acquiring its Junior Note for its own account
in the ordinary course of its business and no Senior Noteholder shall have any liability or responsibility to any Junior
Noteholder except as expressly provided herein or for actions that are taken or omitted to be taken by such Senior Noteholder
that constitute gross negligence or willful misconduct or that constitute a breach of this Agreement. Each Junior Noteholder
represents and warrants that the execution, delivery and performance of this Agreement is within its corporate powers, has
been duly authorized by all necessary corporate action, and does not contravene its charter or any law or
contractual restriction binding upon such Junior Noteholder, and that this Agreement is the legal, valid and binding
obligation of such Junior Noteholder enforceable against such Junior Noteholder in accordance with its terms, except as such
enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the
enforcement of creditors’ rights generally, and by general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law), and except that the enforcement of rights with respect to
indemnification and contribution obligations may be limited by applicable law. Each Junior Noteholder represents and warrants
that it is duly organized, validly existing, in good standing and possesses of all licenses and authorizations necessary to
carry on its business. Each Junior Noteholder represents and warrants that (a) this Agreement has been duly executed and
delivered by such Junior Noteholder, (b) to such Junior 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 Junior Noteholder have been obtained or made and (c) to such Junior
Noteholder’s actual knowledge,

 

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there is no pending action, suit or proceeding, arbitration or governmental
investigation against such Junior Noteholder, an adverse outcome of which would materially and adversely affect
its performance under this Agreement.

 

Each Junior Noteholder
acknowledges that the Senior Noteholders do not owe any Junior Noteholder any fiduciary duty with respect to any action taken under
the Mortgage Loan Documents and, except as provided herein, need not consult with the Junior Noteholders with respect to any action
taken by the Senior Noteholders in connection with the Mortgage Loan.

 

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

 

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

 

Section
15.         Independent Analysis of the Junior Noteholders and the Senior
Noteholders. Each Junior Noteholder acknowledges that it has, independently and without reliance upon any Senior
Noteholder, except with respect to the representations and warranties provided by the Senior Noteholders herein, and based on
such documents and information as it has deemed appropriate, made its own credit analysis and decision to originate its
Junior Note and such Junior Noteholder accepts responsibility therefor. Each Junior Noteholder hereby acknowledges that,
other than the representations and warranties provided herein, the other Noteholders have not made any representations or
warranties with respect to the Mortgage Loan, and that the other Noteholders shall not have any responsibility for (i)
the collectibility of the Mortgage Loan, (ii) the validity, enforceability or legal effect of any of the Mortgage Loan
Documents or the title insurance policy or policies or any survey furnished or to be furnished to the Noteholders 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, the Guarantor or
any

 

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of their Affiliates. Each Junior Noteholder assumes all risk of loss in connection with its Junior Note except as
specifically set forth herein.

 

Each Senior Noteholder
acknowledges that it has, independently and without reliance upon any other Noteholder, except with respect to the representations
and warranties provided by such other Noteholders herein, and based on such documents and information as it has deemed appropriate,
made its own credit analysis and decision to originate its Senior Note and such Senior Noteholder accepts responsibility therefor.
Each Senior Noteholder hereby acknowledges that, other than the representations and warranties provided herein, the other Noteholders
have not made any representations or warranties with respect to the Mortgage Loan, and that the other Noteholders shall not have
any responsibility for (i) the collectibility of the Mortgage Loan, (ii) the validity, enforceability or legal effect of any of
the Mortgage Loan Documents or the title insurance policy or policies or any survey furnished or to be furnished to the Noteholders
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, the Guarantor or any
of their Affiliates. Each Senior Noteholder assumes all risk of loss in connection with its Senior Note except as specifically
set forth herein.

 

Section
16.         No Creation of a Partnership. Nothing contained in this
Agreement, and no action taken pursuant hereto shall be deemed to constitute the relationship created hereby between or among
any of the Noteholders as a partnership, association, joint venture or other entity.

 

Section
17.          Not a Security. The Junior Notes shall not be deemed to
be securities within the meaning of the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as
amended.

 

Section
18.          Other Business Activities of the Noteholders. Each
Junior Noteholder acknowledges that any Senior Noteholder 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 direct or indirect parent or Affiliate
thereof, any property manager, any Accelerated Mezzanine Loan Lender or any Affiliate thereof, or any Person that is a holder
of a preferred equity interest in the Mortgage Loan Borrower, any principal thereof or any Affiliate thereof (the Mortgage
Loan Borrower and such other Persons, each, a “Mortgage Loan Borrower Related Party”), and receive
payments on such other loans or extensions of credit to the Mortgage Loan Borrower or such other Persons 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)          Each
Junior Noteholder agrees that it will not Transfer its Junior Note or any portion thereof or interest therein without the Senior
Noteholders’ prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed, provided,
that (i) each Junior Noteholder shall have the right to Transfer its Junior Note or any portion thereof or interest therein to
a Qualified Institutional Lender (a “Transferee”) without obtaining the Senior

 

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Noteholders’ prior written
consent, provided, that, promptly after such Transfer, each Senior Noteholder is provided with (A) other than in connection
with a Transfer of a participation interest as described in Section 19(c), a representation from the applicable Transferee certifying
that such Transferee is a Qualified Institutional Lender, (B) other than in connection with a Transfer of a participation interest
as described in Section 19(c), a copy of an assignment and assumption agreement whereby the Transferee assumes all (or a ratable
portion, as the case may be) of the obligations of the Transferring Junior Noteholder hereunder with respect to the applicable
Junior Note thereafter accruing and agrees to be bound by the terms of this Agreement and (C) a representation that such Transfer
would not cause the Junior Notes to be directly held by more than five Persons or cause there to be no one Person directly owning
a majority of the Junior Notes, (ii) after a Securitization, if a Junior Noteholder wants to Transfer its Junior Note or any portion
thereof or interest therein to any Person that is not a Qualified Institutional Lender, no consent of the Senior Noteholders shall
be required, but such Junior Noteholder shall first obtain (and deliver to the Senior Noteholders) a Rating Agency Confirmation
from each Rating Agency and (iii) a Junior Noteholder may not Transfer its Junior Note to any Prohibited
Entity and a Junior Noteholder may not Transfer more than a 49% interest (in the aggregate) in its Junior Note to any Prohibited
Entities. Notwithstanding the foregoing, without the Senior Noteholders’ prior consent, which may be withheld in the
Senior Noteholders’ sole discretion, a Junior Noteholder shall not Transfer its Junior Note or any portion thereof or interest
therein to any Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely null and void and shall vest no rights
in the purported Transferee. Each Junior Noteholder agrees that it will pay the reasonable documented costs and expenses of the
Senior Noteholders (including all costs and expenses of the Master Servicer and the Special Servicer) in connection with any Transfer
by such Junior Noteholder.

 

(b)          Notwithstanding
the foregoing, any Junior Noteholder shall have the right, without the need to obtain the consent of the Senior Noteholders or
any other Person, to Transfer 49% or less (in the aggregate) of its interest in its Junior Note to a Person that has no direct
rights with respect to, or direct or indirect control of, its Junior Note; provided, that no Junior Noteholder shall Transfer
any Junior Note or any portion thereof or interest therein to any Mortgage Loan Borrower Related Party and any such Transfer shall
be void ab initio, absolutely null and void and shall vest no rights in the purported Transferee, and provided, further
that such Transfer would not cause the Junior Notes to be directly held by more than five Persons or cause there to be no one Person
directly owning a majority of the Junior Notes and no Junior Noteholder shall Transfer more than a
49% interest (in the aggregate) in any Junior Note to any Prohibited Entities. All Transfers of any Junior Note or a portion
thereof under Section 19(a) or (b), other than a Transfer of a participation interest described in Section 19(c), shall be made
upon written notice to the Senior Noteholders not later than the date of such Transfer, and each applicable Transferee shall (i)
execute an assignment and assumption agreement whereby such Transferee assumes all or a ratable portion, as the case may be, of
the obligations of the Transferring Junior Noteholder hereunder with respect to the related Junior Note or the applicable portion
thereof from and after the date and time of such assignment (or, for purposes of clarification in the case of a Pledge in accordance
with Section 19(e) by any Junior Noteholder of its Junior Note solely as security in connection with a credit or repurchase facility
extended to such Junior Noteholder by a Note Pledgee whereby such Junior Noteholder remains fully liable under this Agreement,
on or before the date on which such Note Pledgee succeeds to the rights of such Junior Noteholder by foreclosure or otherwise,
such Note Pledgee executes an assumption

 

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agreement pursuant to which such Note Pledgee shall be bound by the terms and provisions
of this Agreement and the obligations of the related Junior Noteholder hereunder) and (ii) agree in writing to be bound by the
Servicing Agreement, unless the Servicing Agreement is not then in effect with respect to the Mortgage Loan, in which event the
parties will enter into or agree to be bound by any replacement servicing agreement therefor in accordance with the provisions
hereof. Upon the consummation of a Transfer of any Junior Note or any portion thereof or interest therein in accordance with this
Agreement, the Transferring Person shall be released from all liability under this Agreement with respect to such Junior Note (or
the portion thereof or interest therein that was the subject of such Transfer) accruing after the effective date and time of such
Transfer (it being understood and agreed that the foregoing release shall not apply in the case of a Transfer of a participation
interest in a Junior Note as described in Section 19(c) below). If the Junior Notes are directly held by more than one Person at
any time (whether as of the date hereof or upon any Transfer of a portion of (or a partial interest in) any Junior Note in accordance
with Section 19(a) or Section 19(b)), the Person(s) directly holding a majority of the Junior Note Principal Balance shall appoint
a representative of the Junior Noteholders (a “Junior Noteholder Representative”) and deliver a written notice
thereof to each Senior Noteholder (which notice shall provide the name, mailing address, email address, telephone number and facsimile
number of the applicable Junior Noteholder Representative) (it being understood and agreed that each Senior Noteholder shall be
entitled to rely upon such notice without independent investigation). The Junior Noteholder Representative shall have the sole
right to receive any notices and other communications which are required to be given (or which may be given) to the Junior Noteholders
under this Agreement and shall be the only Person authorized hereunder to exercise the rights and powers of the Junior Noteholders
under this Agreement (including, without limitation, any rights or powers of the Junior Noteholders under Section 5); provided,
however, that the Persons directly holding a majority of the Junior Note Principal Balance may from time to time designate
a different Person as the Junior Noteholder Representative by delivering a written notice thereof to each Senior Noteholder (which
notice shall provide the name, mailing address, email address, telephone number and facsimile number of such replacement Junior
Noteholder Representative) (it being understood and agreed that each Senior Noteholder shall be entitled to rely upon such notice
without independent investigation). Notwithstanding anything to the contrary contained herein, each Person holding an interest
in any of the Junior Notes shall be deemed to be a Junior Noteholder for purposes of the rights and restrictions contained in Section
19(a) and this Section 19(b), and shall be subject to the rights and restrictions thereof with respect to such Person’s
interest in any Junior Note.

 

(c)          In
the case of a Transfer of a participation interest in a Note, (i) the related Noteholder’s obligations under this Agreement
shall remain unchanged, (ii) such Noteholder shall remain solely responsible for the performance of such obligations, (iii) each
other Noteholder and any Persons acting on its 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, assigned, transferred or otherwise disposed of such participation
interest; provided, however, that if the applicable participant is a Qualified Institutional Lender (and such Qualified
Institutional Lender delivers a representation to the other Noteholders certifying and confirming its status as a Qualified Institutional
Lender), such Noteholder, by written notice to the other Noteholders, may delegate to such participant its right (if any) to exercise
the rights of the Controlling Noteholder hereunder and under the Servicing

 

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Agreement; provided, further, however,
that upon the occurrence of a Control Appraisal Period with respect to the Junior Notes (including a Control Appraisal Period that
is deemed to have occurred as a result of any Mortgage Loan Borrower Related Party holding an interest in any Junior Note or the
existence of any circumstances that would otherwise permit any Mortgage Loan Borrower Related Party to exercise the rights of the
Note B-1 Holder as Controlling Noteholder), the aforesaid delegation of rights shall terminate and be of no further force and effect.

 

(d)          Each
Senior Noteholder agrees that it will not Transfer its Note or any portion thereof except to a Qualified Institutional Lender
in accordance with the terms of this Agreement or as otherwise permitted under this Agreement. In connection with any such Transfer,
the Transferee hereby makes each of the representations and warranties contained in Section 14 of this Agreement (except that
(1) if applicable, such Transferee makes such representations and warranties only with respect to the portion of the Note it is
acquiring and (2) with respect to such representations and warranties that relate to the execution and delivery of this Agreement,
such representations and warranties shall be deemed to refer to the execution and delivery of each document or instrument by which
such Person assumed its obligations under this Agreement) and hereby represents that it is a Qualified Institutional Lender. If
a Senior Noteholder intends to Transfer its Note (a “Transferring Senior Noteholder”) or any portion thereof
to a Person that is not a Qualified Institutional Lender, it must first obtain the consent of each other Senior Noteholder and,
if any such non-Transferring Senior Noteholder’s Note or any portion thereof is held in a Securitization Trust, a Rating
Agency Confirmation with respect to the related Securitization; provided that upon receipt of consent or Rating Agency Confirmation
(as required above), such Transferee shall be deemed to be a “Qualified Institutional Lender” for purposes of this
Agreement. Notwithstanding the foregoing, without each non-Transferring Senior Noteholder’s prior consent, and, if any such
non-Transferring Senior Noteholder’s Note or any portion thereof is held in a Securitization Trust, without a Rating Agency
Confirmation with respect to the related Securitization, no Senior Noteholder shall Transfer its Note or any portion thereof (or
a participation interest in such Note) to any Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely null
and void and shall vest no rights in the purported Transferee. The Transferring Senior Noteholder agrees that, in connection with
any Transfer that requires the consent of any non-Transferring Senior Noteholder or a Rating Agency Confirmation, it shall pay
the costs and expenses of each non-Transferring Senior Noteholder (including all costs and expenses of each master servicer, special
servicer and trustee with respect to each applicable Securitization) and all costs and expenses relating to each applicable Rating
Agency Confirmation. Notwithstanding the foregoing, a Senior Noteholder shall have the right, without the need to obtain the consent
of any other Senior Noteholder or any other Person or any Rating Agency Confirmation, to Transfer 49% or less (in the aggregate)
of its interest in its Note to any Person that is not a Mortgage Loan Borrower Related Party. None of the provisions of this Section
19(d) shall apply in connection with (i) the Transfer of all or any portion of any Senior Note to the Depositor for a Securitization
of all or any portion of such Note, (ii) a sale of all of the Senior Notes in accordance with the terms and conditions of the
Lead Securitization Servicing Agreement, (iii) a Transfer by the Special Servicer, in accordance with the terms of the Lead Securitization
Servicing Agreement, of the Senior Notes or the Mortgaged Properties upon the Mortgage Loan becoming a Defaulted Mortgage Loan
(pursuant to the terms of the Lead Securitization Agreement) or (iv) any issuance of certificates in connection with any Securitization
or any purchase or sale of such certificates.

 

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(e)          Notwithstanding
any other provision hereof, any Noteholder may pledge (a “Pledge”) its Note to any entity (other than the Mortgage
Loan Borrower or any Affiliate thereof) which has extended a credit or repurchase facility to such Noteholder and that is either
a Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated at least “A” (or
the equivalent) or better by each Rating Agency (a “Note Pledgee”), on terms and conditions set forth in this
Section 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 (i) a Note Pledgee which is not a Qualified Institutional
Lender may not take title to the pledged Note without (A) prior to a Securitization, the consent of each other Noteholder and (B)
after a Securitization, a Rating Agency Confirmation and (ii) a Note Pledgee which is a Prohibited
Entity may not take title to the pledged Note or more than a 49% interest in the pledged Note. Upon written notice by the
pledging Noteholder to the other Noteholders and any Servicer that a Pledge has been effected (which notice shall provide the name,
mailing address, email address, telephone number and facsimile number of the applicable Note Pledgee), each of the other Noteholders
agrees to acknowledge receipt of such notice and thereafter agrees: (1) to give the applicable 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; (2) to allow such Note Pledgee a period of ten (10) days to cure a default by the pledging Noteholder in respect of
its obligations to the other Noteholder hereunder, but such Note Pledgee shall not be obligated to cure any such default; (3) that
no amendment or modification of this Agreement which adversely affects the rights or obligations of the pledging Noteholder, and
no 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; (4) that, if applicable, such other Noteholder
shall give to such Note Pledgee copies of any Monetary Default Notice or Non-Monetary Default Notice simultaneously with the giving
of same to the pledging Noteholder and accept any cure of the applicable Event of Default by such Note Pledgee in accordance with
the provisions of Section 11 which such pledging Noteholder has the right (but not the obligation) to effect in accordance with
the provisions of Section 11, as if such cure were made by such pledging Noteholder; (5) that such other Noteholder shall deliver
to such Note Pledgee such estoppel certificate(s) as such Note Pledgee shall reasonably request, provided that any such
estoppel certificate(s) shall be in a form reasonably satisfactory to such other Noteholder; and (6) that, upon written notice
(a “Redirection Notice”) to the other Noteholders 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 in writing by such Note Pledgee,
such Note Pledgee shall be entitled to receive any payments that any other Noteholder or Servicer would otherwise be obligated
to pay to the pledging Noteholder from time to time pursuant to this Agreement or the Servicing Agreement. Any pledging Noteholder
hereby unconditionally and absolutely releases the other Noteholders and any Servicer from any liability to such pledging Noteholder
on account of any other Noteholder’s or Servicer’s compliance with any Redirection Notice believed (without any duty
of inquiry of any kind) by any such other Noteholder or any Servicer to have been delivered by such pledging Noteholder’s
Note Pledgee.

 

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Any Note Pledgee shall be permitted to fully exercise its rights and remedies against the applicable pledging Noteholder
(and accept an assignment in lieu of foreclosure as to the applicable collateral), in accordance with applicable law and this Agreement.
In such event, the other (non-pledging) Noteholders and any Servicer shall recognize such Note Pledgee (and any assignee or 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 successors 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 the date
and time of such Transfer (i.e., realization upon the applicable 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 (the “Conduit Inventory Loan”) made by the Conduit to such Noteholder to finance the acquisition and holding
of its Note will require a third party (the “Conduit Credit Enhancer”) to provide credit enhancement;

 

(ii)          The
Conduit Credit Enhancer and conduit manager (if Moody’s rates a Securitization) will each 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 (or all of its rights and obligations in connection with the applicable repurchase facility with respect thereto) 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 and, following a Securitization, a Rating Agency Confirmation, have any greater right to acquire the interests in the
Note pledged (or sold, transferred or assigned as party of a repurchase facility) by such Noteholder, by foreclosure or otherwise,
than would any other purchaser

 

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that is not a Qualified Institutional Lender at a foreclosure sale conducted by a Note Pledgee.

 

Section
20.          Registration of Transfer. In connection with any Transfer of a Note (but, for purposes of clarification, excluding
any Pledge unless and until the applicable Note Pledgee realizes on the Note pledged in connection therewith), the applicable
transferee hereby agrees to assume all of the obligations of the applicable Noteholder hereunder with respect to such Note
thereafter accruing and agrees to be bound by the terms of this Agreement, including the restriction on Transfers set forth
in Section 19, from and after the date and time of such Transfer. No Transfer of a Note may be made unless it is registered
on the Note Register, and the Agent shall not recognize any attempted or purported Transfer of any Note in violation of the
provisions of Section 19 or 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 a Transfer shall, and does hereby agree to, indemnify
the Agent and each other Noteholder against any liability that may result if such Transfer is not made in accordance with the
provisions of this Agreement. Upon a Securitization of the Lead Securitization Note, the Certificate Administrator (or, if
there is no Certificate Administrator, the Trustee) shall automatically become and be the Agent.

 

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 referred to in Section 20, 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 any Initial Noteholder who may hold its Note through a nominee. Upon request of a Noteholder, the Agent shall
provide such Noteholder with the names and addresses of the other Noteholders. To the extent another Person is appointed as
the Agent, each of the Noteholders hereby designates such Person as its agent under Section 20 and this Section 21 solely for
purposes of maintaining the Note Register.

 

Section 22.          No
Pledge. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Senior
Noteholders to the Junior Noteholders. Except as otherwise provided in this Agreement and the Servicing Agreement, the Junior
Noteholders shall not 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 the Junior
Noteholders shall be entitled to receive their share of such application in accordance with the terms of this Agreement
and/or the Servicing Agreement.

 

Section 23.          Cooperation
in Securitization.

 

(a)          Each
Noteholder acknowledges that any Senior Noteholder may elect, in its sole discretion, and at its sole cost and expense, to include
its respective Senior Note in a Securitization. In connection with a Securitization and subject to the terms of the preceding sentence,
(x) at the request of the securitizing Noteholder, each non-securitizing Noteholder shall

 

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use reasonable efforts, at the securitizing
Noteholder’s expense, to satisfy, and to cooperate with the securitizing Noteholder in attempting to cause the Mortgage Loan
Borrower to satisfy, the market standards to which such securitizing Noteholder customarily adheres or which may be reasonably
required in the marketplace or by the Rating Agencies in connection with the applicable Securitization, including, entering into
(or consenting to, as applicable) any modifications to this Agreement or the Mortgage Loan Documents and to cooperate with the
securitizing 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 no non-securitizing 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 such payments, such Noteholder or (ii) increase such Noteholder’s
obligations (other than to an immaterial extent) or decrease such Noteholder’s rights, remedies or protections (other than
to an immaterial extent). In connection with a Securitization, each non-securitizing Noteholder shall, at the sole cost and expense
of the securitizing Noteholder, provide for inclusion in any disclosure document relating to the related Securitization such information
concerning such non-securitizing Noteholder and the other Notes as the securitizing Noteholder reasonably determines to be necessary
or appropriate; and (y) each non-securitizing Noteholder shall cooperate, at the sole cost and expense of the securitizing Noteholder,
with the reasonable requests of each Rating Agency and the securitizing Noteholder in connection with a Securitization, as well
as in connection with all other matters and the preparation of any offering documents relating thereto and to review and respond
reasonably promptly with respect to any information relating to it and the other Notes in any Securitization document. Each Noteholder
acknowledges that any information provided by it to a securitizing Noteholder may be incorporated into the offering documents for
a Securitization. Each securitizing Noteholder and each Rating Agency shall be entitled to rely on the information supplied by,
or on behalf of, the non-securitizing Noteholders.

 

(b)          A
securitizing Noteholder may, at its election, deliver to the other Noteholders drafts of the preliminary and final prospectus,
drafts of the preliminary and final offering memoranda and any other disclosure documents and the servicing agreement at such
time as it deems necessary or appropriate in connection with the Securitization of the related Note. Each of the non-securitizing
Noteholders may, at its election, review and comment thereon insofar as it relates to such non-securitizing Noteholder or its
Note, and, if such non-securitizing Noteholder elects to review and comment, such non-securitizing Noteholder shall review and
comment thereon as soon as possible but in no event later than two (2) Business Days of its receipt thereof, and if such non-securitizing
Noteholder fails to respond within such time, such non-securitizing Noteholder shall be deemed to have elected to not comment
thereon, provided that if such non-securitizing Noteholder elects to review and comment, any such review and comments with
respect to the final draft distributed in connection with the preparation of the preliminary and final prospectus for printing
shall be made no later than the time requested in the e-mail containing such final draft and if such non-securitizing Noteholder
fails to respond by such time period (or, prior to the expiration of such time period, request additional time from the securitizing
Noteholder), such non-securitizing Noteholder shall be deemed to have elected to not comment thereon. In the event of any disagreement
between the securitizing Noteholder and such non-securitizing Noteholder with respect to the preliminary and final offering memoranda,

 

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prospectus supplement, free writing prospectus or any other disclosure documents the securitizing Noteholder’s determination
shall control. A non-securitizing Noteholder has no obligation and shall have no liability with respect to any such offering documents
other than the accuracy of any comments it elects to make or refrain from making, regarding itself or its Note.

 

(c)          Notwithstanding
anything herein to the contrary, the Senior Noteholders acknowledge and agree that (i) the Junior Noteholders shall not be required
to incur any out-of-pocket costs and expenses in connection with a Securitization of any Senior Note or any portion thereof and
(ii) if applicable, no Junior Noteholder shall be required to disclose any of the beneficial owners of a managed account on behalf
of which it holds the Junior Note.

 

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

 

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. EACH OF THE PARTIES HERETO 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, AND APPELLATE COURTS FROM ANY THEREOF;

 

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(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
26.          Modifications. This Agreement shall not be modified,
cancelled or terminated except by an instrument in writing signed by the parties hereto provided that for so long as any Note
is contained in a Securitization Trust, the Noteholders shall not amend or modify this Agreement without Rating Agency
Confirmation from each Rating Agency then rating any securities in any Securitization; provided that Rating Agency
Confirmation shall not be required in connection with any 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) with respect to matters or questions arising under this Agreement to make
provisions of this Agreement consistent with other provisions of this Agreement (including without limitation, in connection
with the creation of New Notes pursuant to Section 39).

 

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 and
Section 20, each Noteholder may assign its rights or obligations under this Agreement. Upon any such assignment, the assignee
shall be entitled to all rights and benefits of the applicable Senior Noteholder or Junior Noteholder, as the case may be,
hereunder, including, without limitation, the right to make further assignments and sever and resize its respective Note
(as permitted pursuant to Section 39 below).

 

Section 28.          Counterparts;
Facsimile Execution.

 

(a)          The
words “delivery,” “execute,” “execution,” “signed,” “signature,” and
words of like import in any document executed in connection herewith shall be deemed to include electronic signatures, the electronic
matching of assignment terms and contract formations on electronic platforms, or the keeping of records in electronic form, each
of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof
or the use of a paper-based recordkeeping system, as the case may be,

 

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to the extent and as provided for in any applicable Law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records
Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided, that, notwithstanding anything
contained herein to the contrary, the parties hereto are under no obligation to agree to accept electronic signatures in any form
or in any format unless expressly agreed to by the parties hereto pursuant to procedures approved by the parties hereto; provided,
further, that, without limiting the foregoing, upon the request of the either party hereto, any electronic signature shall be promptly
followed by such manually executed counterpart.

 

(b)          This
Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute
an original, but all of which when taken together shall constitute a single contract. This Agreement constitutes the entire contract
among the parties relating to the subject matter hereof and supersedes any and all previous agreements and understandings, oral
or written, relating to the subject matter hereof. This Agreement shall become effective when it shall have been executed by the
parties hereto and when the parties hereto shall have received counterparts hereof that, when taken together, bear the signatures
of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by fax transmission
or e-mail transmission (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart
of this Agreement. Without limiting the foregoing, to the extent a manually executed counterpart is not specifically required to
be delivered under the terms of this Agreement, upon the request of any party, such fax transmission or e-mail transmission shall
be promptly followed by such manually executed counterpart.

 

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 among the parties hereto with respect to the
subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the
parties.

 

Section
32.          Withholding Taxes.

 

(a)          If the Lead Securitization
Noteholder or the Mortgage Loan Borrower shall be required by law to deduct and withhold Taxes from interest, fees or other
amounts payable to any Noteholder with respect to the Mortgage Loan as a result of such Noteholder constituting a Non-Exempt
Person, the Lead Securitization Noteholder, in its capacity as servicer (or the Servicer on behalf of the Lead Securitization
Noteholder), shall be entitled to do so with

 

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respect to such other Noteholder’s interest in such payment (all withheld
amounts being deemed paid to such other Noteholder), provided that the Lead Securitization Noteholder (or the Servicer
on its behalf) shall furnish such other Noteholder with a statement setting forth the amount of Taxes withheld, the
applicable rate and other information which may reasonably be requested for purposes of assisting such other Noteholder to
seek any allowable credits or deductions for the Taxes so withheld in each jurisdiction in which such other Noteholder is
subject to tax.

 

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

 

(c)          Each
Noteholder (to the extent it is not the same entity as the Lead Securitization Noteholder) represents to the Lead Securitization
Noteholder (for the benefit of the Mortgage Loan Borrower) that it is not a Non-Exempt Person and that neither the Lead Securitization
Noteholder 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 Noteholder (to the extent it is not the same entity as the Lead Securitization
Noteholder) shall deliver to the Lead Securitization Noteholder or Servicer, as applicable, evidence satisfactory to the Lead Securitization
Noteholder substantiating that such Noteholder is not a Non-Exempt Person and that the Lead Securitization Noteholder is not obligated
under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise under this Agreement.
Without limiting the effect of the foregoing, (i) if a Noteholder is created or organized under the laws of the United States,
any state thereof or the District of Columbia, it shall satisfy the requirements of the preceding sentence by furnishing to the
Lead Securitization Noteholder an Internal Revenue Service Form W-9 and (ii) if a Noteholder is not created or organized under
the laws of the United States, any state thereof or the District of Columbia, and if the payment of interest or other amounts by
the Mortgage Loan Borrower is treated for United States income tax purposes as derived in whole or part from sources within the
United States, such Noteholder shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization
Noteholder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments) or Form W-8BEN or Form W-8BEN-E, or
successor forms, as may be required from time to time, duly

 

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executed by such Noteholder, as evidence of such Noteholder’s
exemption from the withholding of United States tax with respect thereto. The Lead Securitization Noteholder shall not be obligated
to make any payment hereunder to a Noteholder in respect of its Note or otherwise until such Noteholder shall have furnished to
the Lead Securitization Noteholder the requested forms, certificates, statements or documents.

 

Section
33.         Custody of Mortgage Loan Documents. Prior to the date of the
First Securitization, the originals of all of the Mortgage Loan Documents (other than any Notes not held by the Initial
Agent) shall be held by the Initial Agent (or a custodian acting on behalf of the Initial Agent) on behalf of the registered
holders of each of the Notes. On and after the First Securitization, the originals of all of the Mortgage Loan Documents
(including the Note or Notes included in the First Securitization, but excluding the Notes not included in the First
Securitization) shall be held by the First Securitization Noteholder (or a custodian acting on behalf of the First
Securitization Noteholder) on behalf of the registered holders of the Notes, until the Note A-1 Securitization Date, at which
time, the originals of all of the Mortgage Loan Documents (other than the Notes not included in the Note A-1
Securitization) shall be held by the Lead Securitization Noteholder (or a custodian acting on behalf of the Lead
Securitization Noteholder).

 

Section
34.         Servicing of the Loan After the Securitization Date. Pursuant to the Lead Securitization Servicing Agreement, the
Master Servicer (whose identity may change from time to time as provided in the Lead Securitization Servicing Agreement) will
be appointed as the servicer of the Mortgage Loan and the Special Servicer will be appointed as the special servicer of the
Mortgage Loan, and the parties agree that the Master Servicer and Special Servicer will service the Mortgage Loan on behalf
of the Senior Noteholders and the Junior Noteholders pursuant to the Lead Securitization Servicing Agreement and subject to
the terms hereof.

 

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

 

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

 

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

 

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Section 37.          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 the
representations and warranties made by any transferee in connection with a Transfer pursuant to Section 19 or otherwise
in connection with Section 19, 20 or 21;

 

(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 of the Noteholders pursuant to the provisions of this Agreement, unless it has received an 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
Securities Act of 1933, as amended, 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 related to a Transfer or in connection with Section
19, 20 or 21; and

 

(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.

 

Section
38.          Termination of Agent. Prior to a Securitization, 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 38, all of its rights and obligations under this Agreement shall be terminated,
other than any rights or obligations that accrued prior to the date and time 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. UBS AG, New York Branch, as Initial Agent, may transfer its rights and
obligations to the Servicer, as successor Agent, at any time without the consent of any Noteholder. UBS AG, New York Branch, as
Initial Agent, shall promptly and diligently attempt to cause the Servicer to act as successor Agent, and, if the Servicer declines
to act in such capacity, shall promptly and diligently attempt to cause a similar servicer to act as successor Agent. The termination
or resignation of the Servicer, as Servicer under the Servicing Agreement, shall be deemed a termination or resignation of the
Servicer as Agent under this Agreement. Notwithstanding anything to the contrary in this Agreement, upon a Securitization of any
Senior Note or any portion thereof, the Certificate Administrator (or, if there is no Certificate Administrator, the Trustee) shall
automatically become and be the Agent.

 

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Section
39.          Resizing. Notwithstanding any other provision of this
Agreement, for so long as any Senior Noteholder or an affiliate thereof (a “Securitizing/Resizing Entity”)
is the owner of any Senior Note that is not included in a Securitization (each, an “Owned Note”), such
Securitizing/Resizing Entity shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the
Mortgage Loan Borrower to execute amended and restated notes or additional notes (in either case, “New
Notes”) reallocating the principal of any Owned Note to such New Notes; or severing an Owned Note into one or more
further “component” notes in the aggregate principal amount equal to the then outstanding principal balance of
such Owned Note; provided, that (i) the aggregate principal balance of all outstanding New Notes following any such amendment
is no greater than the aggregate principal amount of the applicable Owned Note prior to such amendment, (ii) all Notes
continue to have the same weighted average interest rate as the Notes prior to such amendments, (iii) all Senior Notes pay on
a Pro Rata and Pari Passu Basis and such reallocated or component New Notes shall be automatically subject to the terms of
this Agreement, and (iv) the Securitizing/Resizing Entity holding the New Notes shall notify the Controlling Noteholder, the
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations
and principal amounts. In connection with the foregoing (provided the conditions set forth in clauses (i) through (iv) above
are satisfied, the Master Servicer is hereby authorized and directed to execute amendments to the Mortgage Loan Documents and
this Agreement on behalf of any or all of the Noteholders, as applicable, solely for the purpose of reflecting such
reallocation of principal and if an Owned Note is severed into more than one New Note, each New Note shall have the same
rights as the respective original Owned Note and each New Note shall be a “Note” hereunder and for purposes of
adding and modifying any definitions related thereto. If more than one New Note is created hereunder, for purposes of
exercising the rights of a “Controlling Noteholder” or “Non-Controlling Noteholder”, as applicable,
shall be provided in the definitions of such terms in this Agreement; provided that the Controlling Noteholder shall be
entitled to designate any New Note created from the existing controlling note to be a Non-Controlling Note hereunder.

 

[SIGNATURE PAGE FOLLOWS]

 

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

	 	 	 
	 	UBS AG, as Initial Note A-1 Holder
	 	 	 
	 	By:	/s/ David Schell
			Name:   David Schell 

Title:     Executive Director
	 	 	 
	 	By:	/s/ Racquel A.C. Small 
	 	 	Name:   Racquel A.C. Small 
	 	 	Title:     Executive Director
	 	 	 
	 	UBS AG, as Initial Note A-2 Holder
	 	 	 
	 	By:	/s/ David Schell
	 	 	Name:  David Schell 
	 	 	Title:    Executive Director
	 	 	 
	 	By:	/s/ Racquel A.C. Small 
	 	 	Name:   Racquel A.C. Small 
	 	 	Title:     Executive Director
	 	 	 
	 	UBS AG, as Initial Note A-3 Holder
	 	 	 
	 	By:	/s/ David Schell
	 	 	Name:   David Schell
	 	 	Title:     Executive Director
	 	 	 
	 	By:	/s/ Racquel A.C. Small 
	 	 	Name:   Racquel A.C. Small
	 	 	Title:     Executive Director

 

Park West Village Agreement Among
Noteholders

 

     

     

    

 

 

	 	UBS AG, as Initial Note A-4 Holder
	 	 	 
	 	By:	/s/ David Schell
			Name:   David Schell 

Title:     Executive Director
	 	 	 
	 	By:	/s/ Racquel A.C. Small 
	 	 	Name:   Racquel A.C. Small 
	 	 	Title:     Executive Director
	 	 	 
	 	UBS AG, as Initial Note A-5 Holder
	 	 	 
	 	By:	/s/ David Schell
	 	 	Name:  David Schell 
	 	 	Title:    Executive Director
	 	 	 
	 	By:	/s/ Racquel A.C. Small 
	 	 	Name:   Racquel A.C. Small 
	 	 	Title:     Executive Director
	 	 	 
	 	UBS AG, as Initial Note A-6 Holder
	 	 	 
	 	By:	/s/ David Schell
	 	 	Name:   David Schell
	 	 	Title:     Executive Director
	 	 	 
	 	By:	/s/ Racquel A.C. Small 
	 	 	Name:   Racquel A.C. Small
	 	 	Title:     Executive Director

 

Park West Village Agreement Among
Noteholders

 

     

     

    

 

	 	Initial Note B-1 Holder:
	 	 
	 	Athene Annuity and Life Company, an Iowa company
    doing business in New York under fictitious name MLS, Athene Iowa, as Initial Note B-1 Holder
	 	 	 	 	 
	 	By:	Athene Asset Management, L.P., its investment adviser
	 	 	 	 	 
	 	 	By:	AAM GP Ltd., its general partner
	 	 	 	 	 
	 	 	 	By:	/s/ Robert R. Graham
	 	 	 		Name:   Robert R. Graham
	 	 	 	 	Title:     Executive Vice President
	 	 	 	 	              Structured Investments

 

Park West Village

 

Park West Village Agreement Among
Noteholders

 

     

     

    

 

	 	Initial Note B-2 Holder:
	 	 
	 	Athene Annuity and Life Company, an Iowa company
    doing business in New York under fictitious name MLS, Athene Iowa, as Initial Note B-2 Holder
	 	 	 	 	 
	 	By:	Athene Asset Management,
L.P., its investment adviser
	 	 	 	 	 
	 	 	By:	AAM GP Ltd., its general
partner
	 	 	 	 	 
	 	 	 	By:	/s/ Robert R. Graham
	 	 	 		Name:   Robert R. Graham
	 	 	 	 	Title:     Executive Vice President
	 	 	 	 	              Structured Investments

 

Park West Village

 

Park West Village Agreement Among
Noteholders

 

     

     

    

 

	 	Initial Note B-3 Holder:
	 	 
	 	Athene Annuity & Life Assurance Company, a Delaware
    company doing business in New York under fictitious name MLS, Athene Delaware, as Initial Note B-3 Holder
	 	 	 	 	 
	 	By:	Athene Asset Management, L.P., its investment adviser
	 	 	 	 	 
	 	 	By:	AAM GP Ltd., its general
partner
	 	 	 	 	 
	 	 	 	By:	/s/ Robert R. Graham
	 	 	 		Name:   Robert R. Graham
	 	 	 	 	Title:     Executive Vice President
	 	 	 	 	              Structured Investments

 

Park West Village

 

Park West Village Agreement Among
Noteholders  

 

     

     

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

 

A.          Description of
Mortgage Loan:

 

	Mortgage Loan:	Loan Agreement, dated as of July 19, 2017, between UBS AG, by and through its branch office at 1285 Avenue of the Americas, New York, New York, as Co-Lender, Athene Annuity and Life Company, an Iowa company doing business in New York under fictitious name MLS, Athene Iowa, as Co-Lender, Athene Annuity & Life Assurance Company , a Delaware company doing business in New York under fictitious name MLS, Athene Delaware, as Co-Lender and the Mortgage Loan Borrower
	Mortgage Loan Borrower:	PWV Acquisition Owner LLC
	Date of the Mortgage Loan and the Mortgage: 	July 19, 2017
	Initial Principal Amount of Mortgage Loan:	$138,750,000
	Location of Mortgaged Property:	New York, New York
	Stated Maturity Date:	August 6, 2022

 

B.          Description of
Note Interests:

 

	Initial Senior Note Principal Balance:	$120,000,000
	Initial Note A-1 Principal Balance:	$40,000,000
	Initial Note A-2 Principal Balance:	$30,000,000
	Initial Note A-3 Principal Balance:	$20,000,000
	Initial Note A-4 Principal Balance:	$15,000,000
	Initial Note A-5 Principal Balance:	$10,000,000
	Initial Note A-6 Principal Balance:	$5,000,000
	Initial Junior Note Principal Balance:	$18,750,000

 

    A-1 

     

    

 

	Initial Note B-1 Principal Balance:	$7,000,000
	Initial Note B-2 Principal Balance:	$6,000,000
	Initial Note B-3 Principal Balance:	$5,750,000
	Senior Note Rate:	2.620%
	Junior Note Rate:	5.000%
	Initial Senior Note Percentage Interest: 	86.49%
	Initial Junior Note Percentage Interest:	13.51%

    A-2 

     

    

EXHIBIT B

 

Initial Note A-1 Holder, Initial Note A-2 Holder, Initial
Note A-3 Holder, Initial Note A-4 Holder, Initial Note A-5 Holder, Initial Note A-6 Holder:

 

UBS AG 

1285 Avenue of the Americas 

New York, New York 10019 

Attention: David Schell 

Email: david.schell@ubs.com

 

with a copy to:

Chad Eisenberger, Esq.

UBS Business Solutions LLC

153 West 51st Street

New York, New York 10019

Email: chad.eisenberger@ubs.com

Telephone No.: (212) 821-4885

 

Initial Note B-1 Holder, Initial Note B-2 Holder:

 

Athene Annuity and Life Company, an Iowa company 

doing business in New York under fictitious name MLS, Athene
Iowa 

c/o Athene Asset Management, L.P. 

2121 Rosecrans Ave, Suite 5300 

El Segundo, California 90245

 

Initial Note B-3 Holder:

 

Athene Annuity & Life Assurance Company, a Delaware company 

doing business in New York under fictitious name MLS, Athene
Delaware 

c/o Athene Asset Management, L.P. 

2121 Rosecrans Ave, Suite 5300 

El Segundo, California 90245

 

     

     

    

 

EXHIBIT C

PERMITTED FUND MANAGERS

 

		1.	Apollo Global Real Estate

		2.	Archon Capital, L.P.

		3.	BlackRock, Inc.

		4.	The Blackstone Group International Ltd.

		5.	Clarion Partners

		6.	Colony Capital, Inc.

		7.	Eightfold Real Estate Capital, L.P.

		8.	Fortress Investment Group LLC

		9.	Goldman, Sachs & Co.

		10.	iStar Financial Inc.

		11.	J.E. Roberts Companies

		12.	KKR Real Estate Manager Finance LLC

		13.	Lend-Lease Real Estate Investments

		14.	Lonestar Funds

		15.	Praedium Group

		16.	Prima Capital Advisors LLC

		17.	Raith Capital Partners, LLC

		18.	Rialto Capital Advisors, LLC

		19.	Rialto Capital Management, LLC

		20.	Square Mile Capital Management LLC

		21.	Starwood Financial Trust

		22.	Torchlight Investors

		23.	Walton Street Capital, LLC

		24.	Westbrook Partners

 

     C-1Exhibit 4.10

 

 

AGREEMENT
BETWEEN NOTE HOLDERS

 

Dated
as of August 17, 2017

 

by and between

 

Société
Générale

(Initial Note A-1 Holder)

 

and

 

Société
Générale

(Initial Note A-2 Holder)

 

and

 

Société
Générale

(Initial Note A-3 Holder)

 

and

 

Société
Générale

(Initial Note A-4 Holder)

 

TZA
MULTIFAMILY PORTFOLIO I

 

    	 

     

    

 

TABLE
OF CONTENTS

 

	 	 	Page
	 	 	 
	Section 1	Definitions	2
	Section 2	Servicing of the Mortgage Loan	15
	Section 3	Priority of Payments	21
	Section 4	Workout	23
	Section 5	Administration of the Mortgage Loan	23
	Section 6	Rights of the Controlling Note Holder	27
	Section 7	Appointment of Special Servicer	30
	Section 8	Payment Procedure	31
	Section 9	Limitation on Liability of the Note Holders	32
	Section 10	Bankruptcy	32
	Section 11	Representations of the Note Holders	33
	Section 12	No Creation of a Partnership or Exclusive Purchase Right	33
	Section 13	Other Business Activities of the Note Holders	34
	Section 14	Sale of the Notes	34
	Section 15	Registration of the Notes and Each Note Holder	37
	Section 16	Governing Law; Waiver of Jury Trial	37
	Section 17	Submission To Jurisdiction; Waivers	38
	Section 18	Modifications	38
	Section 19	Successors and Assigns; Third Party Beneficiaries	38
	Section 20	Counterparts	39
	Section 21	Captions	39
	Section 22	Severability	39
	Section 23	Entire Agreement	39
	Section 24	Withholding Taxes	39
	Section 25	Custody of Mortgage Loan Documents	40
	Section 26	Cooperation in Securitization	41
	Section 27	Notices	42
	Section 28	Broker	42
	Section 29	Certain Matters Affecting the Agent	42
	Section 30	Agency	43
	Section 31	Resignation of Agent	43
	Section 32	Resizing	43

 

    	-i-

     

    

 

THIS
AGREEMENT BETWEEN NOTE HOLDERS (“Agreement”), dated as of August 17, 2017 by and between Société
Générale (“SG” 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”), SG (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”), , SG (together with its successors and assigns in interest,
in its capacity as initial owner of the Note A-3, the “Initial Note A-3 Holder”) and SG (together with its
successors and assigns in interest, in its capacity as initial owner of the Note A-4, the “Initial Note A-4 Holder”
and, together with the Initial Note A-1 Holder, the Initial Note A-2 Holder and the Initial Note A-3 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), SG 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 by a single
promissory note. Pursuant to a Note Splitter Agreement and Modification Agreement, dated as of August 3, 2017 between Tzadik Acquisitions,
LLC and SG,] the note was split and the Mortgage Loan is currently evidenced by (i) one promissory note in the original principal
amount of $50,000,000 (as amended, modified or supplemented, “Note A-1”) made by the Mortgage Loan Borrower
in favor of the Initial Note A-1 Holder, (ii) one promissory note in the original principal amount of $30,000,000 (as amended,
modified or supplemented, “Note A-2”), (iii) one promissory note in the original principal amount of $20,000,000
(as amended, modified or supplemented, “Note A-3”) and (iv) one promissory note in the original principal amount
of $8,000,000 (as amended, modified or supplemented, “Note A-4” and together with Note A-1, Note A-2 and Note
A-3, the “Notes”) made by the Mortgage Loan Borrower in favor of the Initial Note A-2 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 and commonly known as “TZA Multifamily Portfolio I” (the “Mortgaged
Property”);

 

WHEREAS,
the Initial Note A-1 Holder intends to sell, transfer and assign its right, title and interest in and to Note A-1 to UBS Commercial
Mortgage Securitization Corp. (“Depositor”), as depositor, pursuant to a Mortgage Loan Purchase Agreement to be dated
as of July 31, 2017, by and between Depositor, as purchaser, and Initial Note A-1 Holder, as seller, and Depositor intends to
transfer its right, title and interest in and to Note A-1 to Wells Fargo Bank, National Association, as trustee for UBS Commercial
Mortgage Trust 2017-C2 under a pooling and servicing agreement, dated as of August 1, 2017 (the “Note A-1 PSA”),
among Depositor, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer, Midland
Loan Services, a Division of PNC Bank, National Association, as special servicer, Wells Fargo Bank, National Association, as trustee,
Wells Fargo Bank, National Association, as certificate administrator, and Park Bridge Lender Services LLC, as operating advisor
and asset representations reviewer;

 

WHEREAS,
Initial Note A-2 Holder intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and interest
in and to Note A-2 to a depositor who will

 

    	 

     

    

 

in turn transfer the same to a trust as part of the securitization of one or more mortgage
loans; and

 

WHEREAS,
Initial Note A-3 Holder intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and interest
in and to Note A-3 to a depositor who will in turn transfer the same to a trust as part of the securitization of one or more mortgage
loans; and

 

WHEREAS,
Initial Note A-4 Holder intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and interest
in and to Note A-4 to a depositor who will in turn transfer the same to a trust as part of the securitization of one or more mortgage
loans; and

 

WHEREAS,
the Initial Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder and the Note A-4 Holder desire to enter
into this Agreement to memorialize the terms under which they, and their successors and assigns, shall hold Note A-1, Note A-2,
Note A-3 and Note A-4 respectively;

 

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

 

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

 

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

 

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

 

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

 

“Agent
Office” shall mean the designated office of the Agent, which office at the date of this Agreement is located at Société
Générale, 245 Park Avenue, New York, New York 10167, Attention: Jim Barnard, Facsimile number: (212) 278-2074, Email
address: Jim.Barnard@sgcib.com, and which is the address to which notices to and correspondence with the Agent should be directed.
The Agent may change the address of its designated office by notice to the Note Holders.

 

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

 

    	-2- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Controlling
Note Holder” shall mean the Note A-1 Holder; provided that at any time Note A-1 is included in a Securitization,
references to the “Controlling Note Holder” herein shall mean the holders of the majority of the class of securities
issued in such Securitization designated as the “controlling class” or such other class(es) otherwise assigned the
rights to exercise the rights of the “Controlling Note Holder” hereunder, as and to the extent provided in the related
Securitization Servicing Agreement; provided that if at any time 50% or more of Note A-1 (or class of securities issued
in the Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights
to exercise the rights of the “Controlling Note Holder”) is held by the Mortgage Loan Borrower or an Affiliate of
the Mortgage Loan Borrower, Note A-1 (or the class of securities issued in the Lead Securitization designated as the “controlling
class” or such other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Note Holder”)
shall not be entitled to exercise any rights of the Controlling Note Holder.

 

    	-3- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Initial
Note 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;

 

    	-4- 

     

    

 

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

 

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

 

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

 

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

 

“Lead
Securitization” shall mean during the period from and after the Note A-1 Securitization Date, the Note A-1 Securitization.

 

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

 

“Lead
Securitization Note” shall mean during the period from and after the Note A-1 Securitization Date, Note A-1.

 

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

 

“Lead
Securitization Servicing Agreement” shall mean (a) during the period from and after the Note A-1 Securitization Date,
the Note A-1 PSA, and (b) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead
Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance
with the second paragraph of Section 2(a).

 

“Lead
Securitization Trust” shall mean during the period from and after the Note A-1 Securitization Date, the trust established
under the Note A-1 PSA in connection with the Note A-1 Securitization.

 

    	-5- 

     

    

 

“Loan
Combination Custodial Account” shall mean the “Loan Combination Custodial Account” or similar term for such
account as defined in the Lead Securitization Servicing Agreement.

 

“Major
Decisions” shall have the meaning given to such term or one or more analogous terms in the Lead Securitization Servicing
Agreement; provided that at any time none of the Notes are included in a Securitization, “Major Decision” shall mean:

 

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

 

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

 

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

 

(iv)       any
sale of the Mortgage Loan (when it is a Defaulted Mortgage Loan) or REO Property for less than the applicable Purchase Price (as
defined in the Lead Securitization Servicing Agreement);

 

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

 

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

 

(vii)      any
waiver of a “due-on-sale” or “due-on-encumbrance” clause with respect to the Mortgage Loan or any consent
to such a waiver or consent to a transfer of the Mortgaged Property or interests in the borrower;

 

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

 

(ix)       any
material 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 any action to enforce rights (or decision not to enforce rights)
with respect thereto, or any material modification, waiver or amendment thereof;

 

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

 

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

 

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

 

(xiii)     any
determination of an Acceptable Insurance Default;

 

(xiv)     any
determination by the Master Servicer to transfer the Mortgage Loan to the Special Servicer under the circumstances described in
paragraph (c) of the definition of “Specially Serviced Mortgage Loan” (as defined in the Lead Securitization Servicing
Agreement); or

 

(xv)      any
modification, waiver or amendment of any lease, the execution of any new lease or the granting of a subordination and nondisturbance
or attornment agreement in connection with any lease, at the Mortgaged Property if (a) the lease involves a ground lease or lease
of an outparcel or affects an area greater than or equal to the lesser of (1) 30% of the net rentable area of the improvements
at the Mortgaged Property and (2) 30,000 square feet of the improvements at the Mortgaged Property and (b) either approval of
such transaction by the Master Servicer is not expressly permitted under the Lead Securitization Servicing Agreement or the Mortgage
Loan is a Specially Serviced Mortgage Loan.

 

“Master
Servicer” shall mean the master servicer appointed as provided in the Lead Securitization Servicing Agreement and any
successor thereunder.

 

“Monthly
Payment Date” shall mean the Scheduled Payment Date (as defined in the Mortgage Loan Documents).

 

“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.

 

    	-7- 

     

    

 

“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 23, 2017, between Tzadik Acquisitions, as Borrower,
and SG, as Lender, as may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms
hereof).

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Non-Controlling
Note Holder” shall mean the Note A-2 Holder, the Note A-3 Holder or Note A-4, as applicable; provided that at
any time Note A-2, Note A-3 or Note A-4 is included in a Securitization, references to the “Non-Controlling Note Holder”
herein shall mean the Controlling Class Representative under the Non-Lead Securitization Servicing Agreement or any other party
assigned the rights to exercise the rights of the “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. The Lead Securitization Note Holder (or the
Master Servicer or the Special Servicer acting on its behalf) shall not be required at any time to deal with more than one party
exercising the rights of the “Non-Controlling Note Holder” herein or under the Lead Securitization Servicing Agreement
and, (x) to the extent that the related Non-Lead Securitization Servicing Agreement assigns such rights to more than one party
or (y) to the extent Note A-2, Note A-3 or Note A-4 is split into two or more New Notes pursuant to Section 32, for purposes of
this Agreement, the related Non-Lead Securitization Servicing Agreement or the holders of such New Notes shall designate one party
to deal with Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) and provide
written notice of such designation to the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer acting
on its behalf); provided that, in the absence of such designation and notice, the Lead Securitization Note Holder (or the
Master

 

    	-8- 

     

    

 

Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as to which it has received
written notice as having been designated as a Non-Controlling Note Holder, as a Non-Controlling Note Holder for all purposes of
this Agreement. As of the date hereof and until further notice from the Non-Lead Securitization Note Holder (or the Non-Lead Master
Servicer or another party acting on its behalf), the Initial Note A-2 Holder, Initial Note A-3 Holder and the Note A-4 Holder
are each Non-Controlling Note Holders.

 

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

 

“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 “Asset Representations Reviewer” as defined in the 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 “master servicer” under any Non-Lead Securitization Servicing Agreement.

 

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

 

“Non-Lead
Securitization Date” shall mean the closing date of the Note A-2 Securitization, Note A-3 Securitization or Note A-4
Securitization, as applicable.

 

“Non-Lead
Securitization Note” shall mean during the period from and after the Note A-1 Securitization Date, Note A-2, Note A-3
and Note A-4.

 

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

 

“Non-Lead
Securitization Servicing Agreement” shall mean, after the Note A-1 Securitization Date, the Note A-2 PSA, the Note A-3
PSA and the Note A-4 PSA.

 

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

 

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

 

    	-9- 

     

    

 

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

 

“Note
A-1 Principal Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the 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-1 PSA” shall mean the “pooling and servicing agreement” entered into in connection with the Note A-1 Securitization.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Note
A-2 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.

 

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

 

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

 

    	-10- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Note
Holder Representative” shall mean a Controlling Note Holder Representative or a Non-Controlling Note Holder Representative.

 

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

 

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

 

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

 

“Notes”
shall mean, collectively, Note A-1, Note A-2, Note A-3 and Note A-4.

 

    	-11- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(a)       an
entity Controlled (as defined below) by any of the Initial Note Holders, or

 

(b)       the
trustee on behalf of the trust certificates issued pursuant to a master trust agreement involving a CDO comprised of, or other
securitization vehicle involving,

 

    	-12- 

     

    

 

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 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 in connection with (a) a securitization of, (b) the creation of collateralized debt obligations (“CDO”)
secured by, or (c) a financing through an “owner trust” of, a Note or any interest therein (any of the foregoing,
a “Securitization Vehicle”), provided that (1) one or more classes of securities issued by such Securitization
Vehicle is initially rated at least investment grade by each of the Rating Agencies that assigned a rating to one or more classes
of securities issued in connection with a Securitization (it being understood that with respect to any Rating Agency that assigned
such a rating to the securities issued by such Securitization Vehicle, a Rating Agency Confirmation will not be required in connection
with a transfer of such Note or any interest therein to such Securitization Vehicle); (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

 

    	-13- 

     

    

 

institution substantially similar to the entities referred to in clause (i)
or (ii) above), or (C) a Permitted Fund Manager, acts as a general partner, managing member, or the fund manager responsible for
the day-to-day management and operation of such investment vehicle and provided that at least 50% of the equity interests
in such investment vehicle are owned, directly or indirectly, by one or more entities that are otherwise Qualified Institutional
Lenders (without regard to the capital surplus/equity and total asset requirements set forth below in the definition), or

 

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

 

in
the case of any entity referred to in clause (c)(i), (ii), (iii), (iv)(B) or (v) of this definition, (x) such entity has at least
$200,000,000 in capital/statutory surplus or shareholders’ equity (except with respect to a pension advisory firm or similar
fiduciary) 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 (b) above or approved by the Rating Agencies hereunder as a Qualified
Institutional Lender for purposes of this Agreement.

 

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

 

“Rating
Agencies” shall mean DBRS, Fitch, KBRA, Moody’s, Morningstar and S&P and their respective successors in interest
or, if any of such entities shall for any reason no longer perform the functions of a securities rating agency, any other nationally
recognized statistical rating agency reasonably 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 prior to a Securitization with respect to any matter, confirmation in writing (which
may be in electronic form) by each applicable Rating Agency 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 rating assigned to any

 

    	-14- 

     

    

 

class
of certificates (if then rated by the Rating Agency); provided that a written waiver or other acknowledgment from the Rating
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 after a Securitization,
the meaning given thereto or any analogous term in the Lead Securitization Servicing Agreement or Non-Lead Securitization Servicing
Agreement, as applicable, including any deemed Rating Agency Confirmation.

 

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

 

“Regulation
AB” shall mean subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100 229.1125,
as such may be amended from time to time, and subject to such clarification and interpretation as have been provided by the SEC
or by the staff of the SEC, or as may be provided by the SEC or its staff from time to time.

 

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

 

“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 Morningstar, either (a) the applicable replacement has
a special servicer ranking of at least “MOR CS3” by Morningstar (if ranked by Morningstar) or (b) if not ranked by
Morningstar, is currently acting as a special servicer on a deal or transaction-level basis for all or a significant portion of
the related mortgage loans in other CMBS transactions rated by any of S&P, Moody’s, Morningstar, Fitch, DBRS or KBRA
and the trustee does not have actual knowledge that Morningstar has, and the replacement special servicer certifies that Morningstar
has not, with respect to any such other CMBS transaction, qualified, downgraded or withdrawn its rating or ratings on one or more
classes of such CMBS transaction citing servicing concerns of the applicable replacement as the sole or material factor in such
rating action, (v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material
factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation
of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to the time of determination,
and (vi) in the case of DBRS, such special servicer is currently acting as special servicer for one or more loans included in
a commercial mortgage loan securitization that is rated by DBRS, and DBRS has not downgraded or withdrawn the then-current rating
on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation
of such special servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement
on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by
such special servicer prior to the time of determination.

 

    	-15- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which Note A-1, Note A-2, Note A-3 or Note
A-4 is held.

 

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

 

“Special
Servicer” shall mean the special servicer or its successor in interest, or any successor appointed as provided in the
Lead Securitization Servicing Agreement.

 

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

 

    	-16- 

     

    

 

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

 

“Trustee”
shall mean the trustee or its successor in interest, or any successor Trustee appointed as provided in the Lead Securitization
Servicing Agreement.

 

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

 

Section
2.           Servicing of the Mortgage Loan.

 

(a)       Each
Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced from and
after the Note A-1 Securitization Date by the Note A-1 Master Servicer and the Note A-1 Special Servicer pursuant to the terms
of this Agreement and the terms of the Note A-1 PSA, provided that the Master Servicer shall not be obligated to advance
monthly payments of principal or interest in respect of any Note other than the Lead Securitization Note if such principal or
interest is not paid by the Mortgage Loan Borrower but shall be obligated to advance delinquent real estate taxes, insurance premiums
and other expenses related to the maintenance of the Mortgaged Property and maintenance and enforcement of the lien of the Mortgage
thereon, subject to the terms of the Lead Securitization Servicing Agreement. Each Note Holder acknowledges that any other Note
Holder may elect, in its sole discretion, to include its Note in a Securitization and agrees that it will, subject to Section
26, reasonably cooperate with such other Note Holder, at such other Note Holder’s expense, to effect such Securitization.
Subject to the terms and conditions of this Agreement, each Note Holder hereby irrevocably and unconditionally consents to the
appointment of the Master Servicer and the Trustee under the Lead Securitization Servicing Agreement by the Depositor and the
appointment of the Special Servicer by the Controlling Note Holder and agrees to reasonably cooperate with the Master Servicer
and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with the Lead Securitization Servicing
Agreement. Each Note Holder hereby appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization
as such Note Holder’s attorney-in-fact to sign any documents reasonably required with respect to the administration and
servicing of the Mortgage Loan on its behalf under the Lead Securitization Servicing Agreement (subject at all times to the rights
of 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 any other Note Holder; however, this statement shall not be construed to otherwise limit the rights
of one Note Holder with respect to any other Note Holder. Each Servicer shall be required pursuant to the Lead Securitization
Servicing Agreement to service the Mortgage Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents,
the Lead Securitization

 

    	-17- 

     

    

 

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.

 

If,
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 if a Non-Lead Securitization Note is in a Securitization, then a written confirmation
shall have been obtained from each Rating Agency 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, 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 as if such agreement were 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.

 

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

 

    	-18- 

     

    

 

In
addition, each Non-Lead Securitization Note Holder (including, but not limited to, any Securitization Trust into which the applicable
Non-Lead Securitization Note is deposited) shall be required to, promptly following notice from the Master Servicer, reimburse
the Lead Securitization for such Non-Lead Securitization Note Holder’s pro rata share of any fees, costs or expenses
incurred in connection with the servicing and administration of the Mortgage Loan as to which the Master Servicer, the Special
Servicer, the Certificate Administrator, the Trustee, the Operating Advisor or the Depositor, as applicable, is entitled to be
reimbursed pursuant to the Lead Securitization Servicing Agreement, to the extent amounts on deposit in the “Loan Combination
Custodial Account” that are allocated to the applicable Non-Lead Securitization Note are insufficient for reimbursement
of such amounts and to the extent that funds from general collections in the Lead Securitization are applied towards the Lead
Securitization Note Holder’s pro rata share of the insufficiency. Each Non-Lead Securitization Note Holder agrees
to indemnify (as and to the same extent the Lead Securitization Trust is required to indemnify each of the following parties in
respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the Lead Securitization Servicing Agreement)
each of the Depositor under the Lead Securitization Servicing Agreement, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor, the Asset Representations Reviewer and the Trustee (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) (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 servicing and administration of the Mortgage Loan (or, with respect to the Operating Advisor, incurred in connection
with the provision of services for the Mortgage Loan) under the Lead Securitization Servicing Agreement (collectively, the “Indemnified
Items”) to the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit in
the “Loan Combination Custodial Account” are insufficient for reimbursement of such amounts, such Non-Lead Securitization
Note Holder shall be required to, promptly following notice from the Master Servicer, reimburse each of the applicable Indemnified
Parties for its pro rata share of the insufficiency; provided, however, that each Non-Lead Securitization
Note Holder’s duty to pay Indemnified Items to the Operating Advisor shall be subject to any limitations and conditions
(including limitations and conditions with respect to the timing of such payments and the sources of funds for such payments)
as may be set forth from time to time in the applicable Non-Lead Securitization Servicing Agreement.

 

Any
Non-Lead Master Servicer may be required to make P&I Advances on the respective Non-Lead Securitization Note, from time to
time, subject to the terms of the related Non-Lead Securitization Servicing Agreement, the Lead Securitization Servicing Agreement
and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to make their
own recoverability determinations with respect to a P&I Advance to be made on the Lead Securitization Note based on the information
that they have on hand and in accordance with the Lead Securitization Servicing Agreement. Any Non-Lead Master Servicer, Non-Lead
Special Servicer or Non-Lead Trustee under any Non-Lead Securitization Servicing Agreement, as applicable, shall be entitled to
make its own recoverability determination with respect to a P&I Advance to be made on the related Non-Lead Securitization
Note based on the information that they have on hand and in accordance with the Non-Lead Securitization Servicing Agreement. The
Master Servicer and the Trustee, as

 

    	-19- 

     

    

 

applicable, and any Non-Lead Master Servicer or Non-Lead Trustee, as applicable, shall be
required to notify the other of the amount of its P&I Advance within two Business Days of making such advance. If the Master
Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization Note) or a Non-Lead Master
Servicer, Non-Lead Special Servicer or the Non-Lead Trustee, as applicable (with respect to a Non-Lead Securitization Note), determines
that a proposed P&I Advance, if made, would be non-recoverable or an outstanding P&I Advance is or would be non-recoverable,
or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines that a proposed Servicing
Advance would be non-recoverable or an outstanding Servicing Advance is or would be non-recoverable, then the Master Servicer
or the Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability
by the Master Servicer, the Special Servicer or the Trustee) or such Non-Lead Master Servicer or Non-Lead Trustee (as provided
in the related Non-Lead Securitization Servicing Agreement, in the case of the a determination of non-recoverability by a Non-Lead
Master Servicer, a Non-Lead Special Servicer or a Non-Lead Trustee) shall notify the Master Servicer and the Trustee, or the related
Non-Lead Master Servicer and the related Non-Lead Trustee, as the case may be, of such other Securitizations within one business
day of making such determination. Each of the Master Servicer and the Trustee, any Non-Lead Master Servicer and any Non-Lead Trustee,
as applicable, shall only be entitled to reimbursement for a P&I Advance and advance interest thereon that becomes non-recoverable
first from the 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 a
Non-Lead Securitization Note, from general collections of the related Securitization Trust, as and to the extent provided in the
related Non-Lead Securitization Servicing Agreement.

 

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

 

(i)       such
Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Nonrecoverable Servicing 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, including without limitation, any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees
relating to the Notes, and that in the event that the funds received with respect to each respective Note are insufficient to
cover such Servicing Advances or Additional Trust Fund Expenses, (i) the related Non-Lead Master Servicer will be required to,
promptly following notice from the Master Servicer, reimburse the Master Servicer, the Special Servicer, the Certificate Administrator,
the Operating Advisor or the Trustee, as applicable, out of general funds in the collection account (or equivalent account) established
under such Non-Lead Securitization Servicing Agreement for such Non-Lead Securitization Note Holder’s pro rata share
of any such Nonrecoverable Servicing 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), and (ii) if the Lead Securitization

 

    	-20- 

     

    

 

Servicing Agreement permits the Master Servicer,
the Special Servicer, the Certificate Administrator, the Operating Advisor or the Trustee to reimburse itself from the Lead Securitization
Trust’s general account, then the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor
or the Trustee, as applicable, may do so and the related Non-Lead Master Servicer will be required to, promptly following notice
from the Master Servicer, reimburse the Lead Securitization Trust out of general funds in the collection account (or equivalent
account) established under such Non-Lead Securitization Servicing Agreement for such Non-Lead Securitization Note Holder’s
pro rata share of any such Nonrecoverable Servicing 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
Lead Securitization Servicing Agreement) by the Securitization Trust holding such Non-Lead Securitization Note, against any of
the Indemnified Items to the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit
in the “Loan Combination Custodial Account” that are allocated to the Non-Lead Securitization Note are insufficient
for reimbursement of such amounts, the related Non-Lead Master Servicer will be required to reimburse each of the applicable Indemnified
Parties for its pro rata share of the insufficiency out of general funds in the collection account (or equivalent account)
established under such Non-Lead Securitization Servicing Agreement; provided, however, that such Non-Lead Securitization
Servicing Agreement may include limitations and conditions on the payment or reimbursement of Indemnified Items to the Operating
Advisor (including limitations and conditions with respect to the timing of such payments or reimbursements and the sources of
funds for such payments or reimbursements).

 

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

 

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

 

    	-21- 

     

    

 

(d)          Prior
to the Securitization of any Note (including any New Note), all notices, reports, information or other deliverables required to
be delivered to a Note Holder pursuant to this Agreement or the Lead Securitization Servicing Agreement by the Lead Securitization
Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) only need to be delivered to the related Note
Holder (or its Note Holder Representative) and, when so delivered to such Note Holder (or Note Holder Representative, as applicable),
the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have
satisfied its delivery obligations with respect to such items hereunder or under the Lead Securitization Servicing Agreement.
Following the Securitization of any Note (including any New Note), as applicable, all notices, reports, information or other deliverables
required to be delivered to a Note Holder pursuant to this Agreement or the Lead Securitization Servicing Agreement by the Lead
Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be delivered to the master
servicer and the special servicer with respect to such Securitization (who then may forward such items to the party entitled to
receive such items as and to the extent provided in the related Securitization Servicing Agreement or with respect to a Note that
has not been securitized, the related Note Holder) and, when so delivered to such master servicer and the special servicer, the
Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have
satisfied its delivery obligations with respect to such items hereunder or under the Lead Securitization Servicing Agreement.

 

(e)           The
Note A-1 PSA shall contain terms and conditions that are customary for securitization transactions involving assets similar to
the Mortgage Loan and that are otherwise (i) required by the Code relating to the tax elections of the Note A-1 Trust Fund, (ii)
required by law or changes in any law, rule or regulation or (iii) requested by the Rating Agencies rating the Note A-1 Securitization.

 

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

 

(g)          Each
Non-Lead Securitization Note Holder shall give each of the parties to the Note A-1 PSA, (that will not also be a party to the
related Non-Lead Securitization Servicing Agreement), as applicable, notice of the related Securitization in writing (which may
be by e-mail) not less than five (5) Business Days subsequent to the related Securitization Date. Such notice shall contain contact
information for each of the parties to the related Non-Lead Securitization Servicing Agreement.

 

(h)          The
Lead Securitization Servicing Agreement shall provide that compensating interest payments as defined therein with respect to Note
A-1, Note A-2, Note A-3 and Note A-4 will be allocated by the Master Servicer among Note A-1, Note A-2, Note A-3 and Note A-4,
pro rata, in accordance with their respective principal amounts. The Master Servicer shall remit any compensating interest
payment in respect of each Non-Lead Securitization Note to the applicable Non-Lead Securitization Note Holder.

 

    	-22- 

     

    

 

(i)           The
Lead Securitization Servicing Agreement shall provide that (i) customary CREFC® reports related to the Mortgage Loan and Mortgaged
Property are required to be made available to each Non-Lead Securitization Note Holder in order to permit the applicable Non-Lead
Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee to comply in a timely manner with their respective reporting obligations
under the related Non-Lead Securitization Servicing Agreement, (ii) in connection with (x) any amendment of the Lead Securitization
Servicing Agreement, a party to the Lead Securitization Servicing Agreement is required to provide promptly a copy of the executed
amendment to each Non-Lead Depositor (which may be by email), and (y) the termination, resignation and/or replacement of the Master
Servicer or Special Servicer, such replacement Master Servicer or Special Servicer, as applicable, is required to provide all
disclosure about itself that is required to be included in Form 8-K no later than the date of effectiveness thereof, (iii) each
Non-Lead Securitization Note Holder is an intended third-party beneficiary of the rights under the Lead Securitization Servicing
Agreement to the extent such rights affect the related Non-Lead Securitization Note or the related Non-Lead Securitization Note
Holder, (iv) it shall not be amended in any manner that materially and adversely (or words of similar import) affects the Non-Lead
Securitization Note Holders without the consent of such parties, (v) if a Non-Lead Securitization Note becomes the subject of
an “Asset Review” (or such similar term, as defined in the related Non-Lead Securitization Servicing Agreement), the
applicable parties to the Lead Securitization Servicing Agreement are required to reasonably cooperate with the related Non-Lead
Asset Representations Reviewer or other applicable party to the related Non-Lead Securitization Servicing Agreement in connection
with such Asset Review (or a substantially similar provision), including with respect to providing access to related underlying
documents.

 

Section
3. Priority of Payments.   Each Note shall be of equal priority, and no portion of any Note shall have priority
or preference over any portion of any other Note or security therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise
available for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized
as proceeds thereof, whether received in the form of 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 Servicing 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 P&I Advances (and interest
thereon) made with respect to Note A-1, Note A-2, Note A-3 or Note A-4 which may only be reimbursed out of payments and collections
allocable to Note A-1, Note A-2, Note A-3 or Note A-4, as applicable, on the Lead Securitization Note and (ii) any Servicing Fees
due to the Master Servicer in excess of such Non-Lead Securitization Note’s pro rata share of that portion of such
Servicing Fees calculated at the “primary servicing fee rate” applicable to the Mortgage Loan as set forth in the
Lead Securitization Servicing Agreement) to any Servicer, with respect to the Mortgage Loan pursuant to the Lead Securitization
Servicing Agreement (including without limitation, any Additional

 

    	-23- 

     

    

 

Trust Fund Expenses relating to the Mortgage Loan (but subject
to second paragraph of Section 5(d) hereof) reimbursable to, or payable by, such parties and any Special Servicing Fees, Liquidation
Fees, Workout Fees, Default 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, Default Charges (as defined in the Lead Securitization Servicing Agreement) paid on each Note shall be
allocated to the Notes on a Pro Rata and Pari Passu Basis and applied first, be used to reduce, on a pro rata basis,
the amounts payable on each Note by the amount necessary to pay the Master Servicer, the Trustee or the Special Servicer for any
interest accrued on any Servicing Advances and reimbursement of any Servicing Advances in accordance with the terms of the Lead
Securitization Servicing Agreement, second, be used to reduce the respective amounts payable on each Note by the amount
necessary to pay the Master Servicer, Trustee, any Non-Lead Master Servicer or any Non-Lead Trustee, as applicable, for any interest
accrued on any P&I Advance made with respect to such Note by such party (if and as specified in the Lead Securitization Servicing
Agreement or applicable Non-Lead Securitization Servicing Agreement, as applicable), third, be used to reduce, on a pro
rata basis, the amounts payable on each Note by the amount necessary to pay Additional Trust Fund Expenses (other than Special
Servicing Fees, unpaid Workout Fees and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the Lead
Securitization Servicing Agreement) and finally, (i) in the case of the remaining amount of Default Charges allocable to
the Lead Securitization Note, be paid to the Master Servicer and/or the Special Servicer as additional servicing compensation
as provided in the Lead Securitization Servicing Agreement and (ii) in the case of the remaining amount of Default Charges allocable
to each Non-Lead Securitization Note, be paid, (x) prior to the securitization of such Note, to the related Note Holder and (y)
following the securitization of such Note, 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(c)) and the Lead Securitization Servicing Agreement and subject to the
rights and consents, where required, of the Controlling Note Holder Representative, the Lead Securitization Note Holder (or the
Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead

 

    	-24- 

     

    

 

Securitization Note Holder) shall have the sole
and exclusive authority with respect to the administration of, and exercise of rights and remedies with respect to, the Mortgage
Loan, including, without limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan Documents or
consent to any action or failure to act by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents, call
or waive any Event of Default, accelerate the Mortgage Loan or institute any foreclosure action or other remedy, and no Non-Lead
Securitization Note Holder shall have 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, each Non-Lead Securitization Note Holder
agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to the Note A-1 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 prior to the applicable Non-Lead Securitization Date to, and each Non-Lead Securitization Note Holder
hereby presently and irrevocably assigns and conveys to the Note A-1 Holder (or the Master Servicer, the Special Servicer or the
Trustee acting on behalf of the Lead Securitization Note Holder from and after the Note A-1 Securitization Date) the rights, if
any, that such Note Holder has from and after the applicable Non-Lead Securitization Date, to, (i) call or cause the Lead Securitization
Note Holder to call an Event of Default under the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan
or the Mortgage Loan Borrower, including, without limitation, filing or causing the Lead Securitization Note Holder to file any
bankruptcy petition against the Mortgage Loan Borrower. The Lead Securitization Note Holder (or the Master Servicer, the Special
Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder) shall not have any fiduciary duty to any Non-Lead
Securitization Note Holder in connection with the administration of the Mortgage Loan (but the foregoing shall not relieve the
Lead Securitization Note Holder from the obligation to make any disbursement of funds as set forth herein or its obligation to
follow the Servicing Standard (in the case of the Master Servicer or the Special Servicer) or any liability for failure to do
so).

 

Each
Note Holder hereby acknowledges the right and obligation of the Lead Securitization Note Holder (or the Special Servicer acting
on behalf of the Lead Securitization Note Holder) upon the Mortgage Loan becoming a Defaulted Mortgage Loan, to sell the Notes
together as notes evidencing one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement. In connection
with any such sale, the Special Servicer shall be required to sell the Notes together as notes evidencing one whole loan and shall
require that all offers be submitted to the Certificate Administrator or Special Servicer, as applicable, in accordance with the
terms of the Lead Securitization Servicing Agreement in writing and be accompanied by a refundable deposit of cash in an amount
equal to 5% of the offer amount (subject to a cap of $2,500,000). Whether any cash offer constitutes a fair price for the Mortgage
Loan shall be determined by the Trustee or Special Servicer, as applicable, in accordance with the terms of the Lead Securitization
Servicing Agreement; provided, that no offer from an Interested Person shall constitute a fair price unless (i) it is the
highest offer received and (ii) at least two bona fide other offers are received from independent third parties. In determining
whether any offer received represents a fair price for the Mortgage Loan, the Trustee shall be supplied with and shall rely on
the most recent Appraisal or updated Appraisal conducted in accordance with the Lead Securitization Servicing Agreement within
the

 

    	-25- 

     

    

 

preceding
nine (9)-month period or, in the absence of any such Appraisal, on a new Appraisal. The Trustee shall select the Appraiser conducting
any such new Appraisal. In determining whether any such offer constitutes a fair price for the Mortgage Loan, the Trustee shall
instruct the Appraiser to take into account (in addition to the results of any Appraisal or updated Appraisal that it may have
obtained pursuant to the Lead Securitization Servicing Agreement), as applicable, among other factors, the period and amount of
any delinquency on the affected Mortgage Loan, the occupancy level and physical condition of the related Mortgaged Property and
the state of the local economy. The Trustee may conclusively rely on the opinion of an Independent appraiser or other Independent
expert in real estate matters retained by the Trustee at the expense of the Holders in connection with making such determination.
Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization
Note Holder) shall not be permitted to sell the Mortgage Loan without the written consent of each Non-Lead Securitization Note
Holder unless the Special Servicer has delivered to such Non- Lead Securitization Note Holder: (a) at least fifteen (15) Business
Days prior written notice of any decision to attempt to sell the Mortgage Loan; (b) at least ten (10) days prior to the proposed
sale date, a copy of each bid package (together with any amendments to such bid packages) received by the Special Servicer in
connection with any such proposed sale, (c) at least ten (10) days prior to the proposed sale date, a copy of the most recent
Appraisal for the Mortgage Loan, and any documents in the Servicing File requested by such Non-Lead Securitization Note Holder
and (d) until the sale is completed, and a reasonable period of time (but no less time than is afforded to other offerors and
the related “Controlling Class Representative” (or other similar term)) prior to the proposed sale date, all information
and other documents being provided to other offerors and all leases or other documents that are approved by the Master Servicer
or the Special Servicer in connection with the proposed sale; provided that any majority holder of any Non-Lead Securitization
Note or the related Subordinate Class Representative may waive any of the delivery or timing requirements set forth in this sentence.
Subject to the foregoing, each of the Controlling Note Holder, the Controlling Note Holder Representative, the Non-Controlling
Note Holders and any Non-Controlling Note Holder Representatives shall be permitted to bid at any sale of the Mortgage Loan.

 

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

 

The
authority of the Lead Securitization Note Holder to sell any of the Non-Lead Securitization Note, and the obligations of any other
Note Holder to execute and deliver instruments or deliver the related Note upon request of the Lead Securitization Note Holder,

 

    	-26- 

     

    

 

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

 

(b)       The
administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The servicing
of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan
(or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant
to the Lead Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein, in accordance with
the Lead Securitization Servicing Agreement, the Lead Securitization Note Holder shall cause the Master Servicer and the Special
Servicer to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests
of each Note Holder. The Note Holders agree to be bound by the terms of the Lead Securitization Servicing Agreement. All rights
and obligations of the Lead Securitization Note Holder described hereunder may be exercised by the Master Servicer, the Special
Servicer, the Certificate Administrator or the Trustee on behalf of the Lead Securitization Note Holder. The Lead Securitization
Servicing Agreement shall not be amended in any manner that may adversely affect any Non-Lead Securitization Note Holder in its
capacity as Non-Lead Securitization Note Holder without the applicable Non-Lead Securitization Note Holder’s prior written
consent. Each 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)       Notwithstanding
the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall
be required (i) to provide copies of any notice, information and report that it is required to provide to the Lead Securitization
Controlling Class Representative pursuant to the Lead Securitization Servicing Agreement with respect to any Major Decisions or
the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, to each Non-Lead
Securitization Note Holder (or its related Note Holder Representative), within the same time frame it is required to provide to
the Lead Securitization Controlling Class Representative (for this purpose, without regard to whether such items are actually
required to be provided to the Lead Securitization Controlling Class Representative under the Lead Securitization Servicing Agreement
due to the expiration of the Subordinate Control Period or the Collective Consultation Period) and (ii) to consult with each Non-Controlling
Note Holder (or the related

 

    	-27- 

     

    

 

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

 

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

 

(d)       If
any Note is included as an asset of a 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

 

    	-28- 

     

    

 

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

 

Section
6.      Rights of the Controlling Note Holder.

 

(a)       The
Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise of its rights
and obligations with respect to the Mortgage Loan (the “Controlling Note Holder Representative”). The Controlling
Note Holder shall have the right in its sole discretion at any time and from time to time to remove and replace the Controlling
Note Holder Representative. When exercising its various rights under Section 5 and elsewhere in this Agreement, the Controlling
Note Holder may, at its option, in each case, act through the Controlling Note Holder Representative. The Controlling Note Holder
Representative may be any Person (other than the Mortgage Loan Borrower, its principal or any Affiliate of the Mortgage Loan Borrower),
including, without limitation, the Controlling Note Holder, any officer or employee of the Controlling Note Holder, any affiliate
of the Controlling Note Holder or any other unrelated third party. No such Controlling Note Holder Representative shall owe any
fiduciary duty or other duty to any other Person (other than the Controlling Note Holder). All actions that are permitted to be
taken by the Controlling Note Holder under this Agreement may be taken by the Controlling Note Holder Representative acting on
behalf of the Controlling Note Holder. Any Servicer acting on behalf of the Lead Securitization Note Holder shall not be required
to recognize any Person as a Controlling Note Holder Representative until the Controlling Note Holder has notified 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 telecopy number for the delivery of notices and other correspondence and a list of officers
or employees of such person with whom the parties to this Agreement may deal (including their names, titles, work addresses and
telecopy numbers).

 

    	-29- 

     

    

 

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

 

(b)       Each
Non-Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise of such
Non-Controlling Note Holder’s rights and obligations with respect to the Mortgage Loan (with respect to such Note Holder,
the “Non-Controlling Note Holder Representative”). All of the provisions relating to Controlling Note Holder
and the Controlling Note Holder Representative set forth in the first paragraph of this Section 6(a) (except those contained in
the last sentence thereof) and the second paragraph of this Section 6(a) shall apply to the Non-Controlling Note Holder and its
Non-Controlling Note Holder Representative mutatis mutandis.

 

The
Controlling Note Holder shall be entitled to exercise the rights and powers granted to the Controlling Note hereunder and the
rights and powers granted to the “Controlling Class Representative” or similar party under, and as defined in, the
Lead Securitization Servicing Agreement with respect to the Mortgage Loan. In addition, the Controlling Note Holder shall be entitled
to advise (1) the Special Servicer with respect to all matters related to a “Specially Serviced Mortgage Loan” (as
defined in the Lead Securitization Servicing Agreement) and (2) the Special Servicer with respect to all matters for which the
Master Servicer must obtain the consent or deemed consent of the Special Servicer, and, except as set forth below (i) the Master
Servicer shall not be permitted to implement any Major Decision unless it has obtained the prior written consent of the Special
Servicer and (ii) the Special Servicer shall not be permitted to

 

    	-30- 

     

    

 

consent to the Master Servicer’s implementing any Major
Decision nor will the Special Servicer itself be permitted to implement any Major Decision as to which the Controlling Note Holder
has objected in writing within ten (10) Business Days (or thirty (30) days with respect to an Acceptable Insurance Default) after
receipt of the written recommendation and analysis and such additional information requested by the Controlling Note Holder as
may be necessary in the reasonable judgment of the Controlling Note Holder in order to make a judgment with respect to such Major
Decision. The Controlling Note Holder may also direct the Special Servicer to take, or to refrain from taking, such other actions
with respect to the Mortgage Loan as the Controlling Note Holder may deem advisable.

 

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

 

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

 

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

 

The
Controlling Note Holder shall have no liability to the other Note Holders or any other party 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 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 may have special relationships and interests that conflict with

 

    	-31- 

     

    

 

the
interests of another Note Holder and, absent willful misfeasance, bad faith or gross negligence on the part of the Controlling
Note Holder agree to take no action against the Controlling Note Holder or any of its officers, directors, employees, principals
or agents as a result of such special relationships or interests, and that the Controlling Note Holder shall not 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.

 

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, 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 each 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.
The Controlling Note Holder shall be solely responsible for any expenses incurred in connection with any such replacement
without cause. The Controlling Note Holder shall notify the other parties hereto of its termination of the then currently
serving Special Servicer and its appointment of a replacement Special Servicer in accordance with this Section 7. If the
Controlling Note Holder has not appointed a Special Servicer with respect to the Mortgage Loan as of the consummation of the
securitization under the Lead Securitization Servicing Agreement, then the initial Special Servicer designated in the Lead
Securitization Servicing Agreement shall serve as the initial Special Servicer but this shall not limit the right of the
Controlling Note Holder (or its Controlling Note Holder Representative) to designate a replacement Special Servicer for the
Mortgage Loan as aforesaid. If a Servicer Termination Event on the part of the Special Servicer has occurred that affects any
Non-Controlling Note Holder, such Non-Controlling Note Holder shall have the right to direct the Trustee (or at any time that
the Mortgage Loan is no longer included in a Securitization Trust, the Controlling Note Holder) to terminate the Special
Servicer under the Lead Securitization Servicing Agreement solely with respect to the Mortgage Loan pursuant to and in
accordance with the terms of the Lead Securitization Servicing Agreement. Each Note Holder acknowledges and agrees that
any successor special servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that was
terminated for cause at such Non-Controlling Note Holder’s direction cannot at any time be the person (or an Affiliate
thereof) that was so terminated without the prior written consent of such Non-Controlling Note Holder. Such Non-Controlling
Note Holder shall be solely responsible for reimbursing the Trustee’s or the Controlling Note Holder’s, as
applicable, costs and expenses, if not paid within a reasonable time by the terminated special servicer and, in the case of
the Trustee, that would otherwise be reimbursed to the Trustee from amounts on deposit in the Lead Securitization’s
“collection account”.

 

    	-32- 

     

    

 

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, will deposit or cause to be deposited all payments allocable to the Notes to the Collection
Account and/or Loan Combination Custodial Account (each as defined in the Lead Securitization Servicing Agreement) pursuant to
and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder (or the Master Servicer
acting on its behalf) shall deposit such amounts to the applicable account within one Business Day 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 (provided, however, that, to the extent any such amounts are received after 2:00 p.m. Eastern time on any
given Business Day, the Lead Securitization Note Holder (or Master Servicer acting on its behalf) shall use commercially reasonable
efforts to deposit such amounts into the applicable account within one (1) Business Day of receipt thereof but, in any event,
the Lead Securitization Note Holder (or Master Servicer acting on its behalf) shall deposit such amounts into the applicable account
within two (2) Business Days of receipt thereof) and shall remit payments due on each Non-Lead Securitization Note to the related
Non-Lead Securitization Note Holder (or the Non-Lead Master Servicer on its behalf) no later than one Business Day following the
“Determination Date” under the related Non-Lead Securitization Servicing Agreement.

 

(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 any Note Holder or any Servicer or paid to any other Person, then, notwithstanding
any other provision of this Agreement, the Lead Securitization Note Holder shall not be required to distribute any portion thereof
to any Non-Lead Securitization Note Holder and each Non-Lead Securitization Note Holder will 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 such 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.

 

(c)       If,
for any reason, the Lead Securitization Note Holder makes any payment to any 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 such Non-Lead Securitization Note Holder, such 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

 

    	-33- 

     

    

 

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 each Non-Lead
Securitization Note Holder with respect to the Mortgage Loan against any future payments due to such Non-Lead Securitization Note
Holder under the Mortgage Loan. Such Non-Lead Securitization Note Holder’s obligations under this Section 8 constitute absolute,
unconditional and continuing obligations.

 

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

 

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 any Non-Lead Securitization Note Holder in connection with the Lead Securitization Note Holder’s exercise of rights or
any omission by the Lead Securitization Note Holder to exercise such rights other than as described above; provided, however,
that the Servicer must act in accordance with the Servicing Standard.

 

Section
10.      Bankruptcy.    Subject to Section 5(c), each Note Holder hereby covenants and agrees
that only the Lead Securitization Note Holder has the right to institute, file, commence, acquiesce, petition under Bankruptcy
Code Section 303 or otherwise or join any Person in any such petition or otherwise invoke or cause any other Person to invoke
an Insolvency Proceeding with respect to or against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee,
trustee, custodian, sequestrator or other similar official with respect to the Mortgage Loan Borrower or all or any part of its
property or assets or ordering the winding-up or liquidation of the affairs of the Mortgage Loan Borrower. Each Note Holder further
agrees that only the Lead Securitization Note Holder, and not the Non-Lead Securitization Note Holders, can make any election,
give any consent, commence any action or file any motion, claim, obligation, notice or application or take any other action in
any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding. The Note Holders
hereby appoint the Lead Securitization Note Holder as their agent, and grant to the Lead Securitization Note Holder an irrevocable
power of attorney coupled with an interest, and their proxy, for the purpose of exercising any and all rights and taking any and
all actions available to 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 Lead Securitization Note Holder, the Non-Lead Securitization Note Holders
shall

 

    	-34- 

     

    

 

execute, acknowledge and deliver to the Lead Securitization Note Holder
all and every such further deeds, conveyances and instruments as the Lead Securitization Note Holder may reasonably request for
the better assuring and evidencing of the foregoing appointment and grant. All actions taken by 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.      No Creation of a Partnership or Exclusive Purchase Right.    Nothing contained in
this Agreement, and no action taken pursuant hereto shall be deemed to constitute the relationship created hereby between the
Note Holders as a partnership, association, joint venture or other entity. The Lead Securitization Note Holder shall have no obligation
whatsoever to offer to any Non-Lead Securitization Note Holder the opportunity to purchase a participation interest in any future
loans originated by the Lead Securitization Note Holder or its Affiliates and if the Lead Securitization Note Holder chooses to
offer to any Non-Lead Securitization Note Holder the opportunity to purchase a participation interest in any future mortgage loans
originated by the Lead Securitization Note Holder or its Affiliates, such offer shall be at such purchase price and interest rate
as the Lead Securitization Note Holder chooses, in its sole and absolute discretion. No Non-Lead Securitization Note Holder shall
be obligated whatsoever to purchase from the Lead Securitization Note Holder a participation interest in any future loans originated
by the Lead Securitization Note Holder or its Affiliates.

 

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

 

    	-35- 

     

    

 

receive
payments on such other loans or extensions of credit to Mortgage Loan Borrower Related Parties and otherwise act with respect
thereto freely and without accountability in the same manner as if this Agreement and the transactions contemplated hereby were
not in effect.

 

Section
14.      Sale of the Notes.

 

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 Holders 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
(and the related pooling and servicing or similar agreement requires the parties thereto to comply with this Agreement) in accordance
with the immediately following sentence) and (y) a copy of the assignment and assumption agreement referred to in Section 15.
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 (1) prior to a Securitization, the consent of the related non-transferring Note Holders or, (2) after
a Securitization of such non-transferring Note Holders’ Note, Rating Agency Confirmation. Notwithstanding the foregoing,
without each 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 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 will pay the expenses of
each 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 any other Note Holder, the Rating Agencies or
any other Person, to Transfer 49% or less (in the aggregate) of its Note or any beneficial interest in a Note. None of the provisions
of this Section 14(a) shall apply in the case of (1) a sale of Note A-1 together with the Non-Lead Securitization Notes, in accordance
with the terms and conditions of the Lead Securitization Servicing Agreement or (2) a transfer by the Special Servicer, in accordance
with the terms and conditions of the Lead Securitization Servicing Agreement, of the Mortgage Loan or the Mortgaged Property,
upon the Mortgage Loan becoming a Defaulted Loan, to a single member limited liability or limited partnership, 100% of the equity
interest in which is owned directly or indirectly, through one or more single member limited liability companies or limited partnerships,
by the Lead Securitization Trust.

 

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

 

    	-36- 

     

    

 

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.

 

(a)       In
the case of any Transfer of a participation interest in any of the Notes, (i) the respective Note Holder’s obligations under
this Agreement shall remain unchanged, (ii) such Note Holder 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.

 

(b)       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 14(c), it being further agreed that a financing provided by a Note Pledgee to a Note Holder or any person which Controls
such Note that is secured by its Note and is structured as a repurchase arrangement, shall qualify as a “Pledge” hereunder,
provided that a Note Pledgee which is not a Qualified Institutional Lender may not take title to the pledged Note without
a Rating Agency Confirmation. Upon written notice by the applicable Note Holder to each other Note Holder and any Servicer that
a Pledge has been effected (including the name and address of the applicable Note Pledgee), each other Note Holder agrees to acknowledge
receipt of such notice and thereafter agrees: (i) to give the Note Pledgee written notice of any default by the pledging Note
Holder in respect of its obligations under this Agreement of which default such Note Holder has actual knowledge; (ii) to allow
such Note Pledgee a period of ten (10) days to cure a default by the pledging Note Holder in respect of its obligations to each
other Note Holder hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that no amendment, modification,
waiver or termination of this Agreement shall be effective against such Note Pledgee without the written consent of such Note
Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed; (iv) that such other Note Holder shall give
to such Note Pledgee copies of any notice of default under this Agreement simultaneously with the giving of same to the pledging
Note Holder; (v) that such other Note Holder shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall
reasonably request, provided that any such certificate(s) shall be in a form reasonably satisfactory to such other Note
Holder; and (vi) that, upon written notice (a “Redirection Notice”) to each other Note Holder and any Servicer
by such Note Pledgee that the pledging Note Holder is in default, beyond any applicable cure periods, under the pledging Note
Holder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging Note Holder and
such Note Pledgee (which notice need not be joined in or confirmed by the pledging Note Holder), and until such Redirection Notice
is

 

    	-37- 

     

    

 

withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Note Holder or
Servicer would otherwise be obligated to pay to the pledging Note Holder from time to time pursuant to this Agreement or the Lead
Securitization Servicing Agreement. Any pledging Note Holder hereby unconditionally and absolutely releases each other Note Holder
and any Servicer from any liability to the pledging Note Holder on account of such other Note Holder’s or Servicer’s
compliance with any Redirection Notice believed by any Servicer or such other Note Holder to have been delivered by a Note Pledgee.
Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging Note Holder to such Note Pledgee
(and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement.
In such event, the Note Holders and any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage
Loan Borrower or any Affiliate thereof which is also a Qualified Institutional Lender at any foreclosure or similar sale held
by such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as the successor to the pledging
Note Holder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Institutional
Lender shall assume in writing the obligations of the pledging Note Holder hereunder accruing from and after such Transfer (i.e.,
realization upon the collateral by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The
rights of a Note Pledgee under this Section 14(c) shall remain effective as to any Note Holder (and any Servicer) unless and until
such Note Pledgee shall have notified any such Note Holder (and any Servicer, as applicable) in writing that its interest in the
pledged Note has terminated.

 

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

 

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

 

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

 

(iii)       Such
Note Holder pledges 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

 

    	-38- 

     

    

 

Holder, by foreclosure
or otherwise, than would any other purchaser that is not a Qualified Institutional Lender at a foreclosure sale conducted by a
Note Pledgee.

 

Section
15.      Registration of the Notes and Each Note Holder.    The Agent shall keep or cause to
be kept at the Agent Office books (the “Note Register”) for the registration and transfer of the Notes. The
Agent shall serve as the initial note registrar and the Agent hereby accepts such appointment. The names and addresses of the
holders of the Notes and the names and addresses of any transferee of any Note of which the Agent has received notice, in the
form of a copy of the assignment and assumption agreement referred to in this Section 15, shall be registered in the Note Register.
The Person in whose name a Note Holder is so registered shall be deemed and treated as the sole owner and holder thereof for all
purposes of this Agreement. Upon request of a Note Holder, the Agent shall provide such party with the names and addresses of
each other Note Holder. To the extent the Trustee or another party is appointed as Agent hereunder, each Note Holder hereby designates
such person as its agent under this Section 15 solely for purposes of maintaining the Note Register.

 

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

 

    	-39- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

Section
18.      Modifications.    This Agreement shall not be modified, cancelled or terminated except
by an instrument in writing signed by each Note Holder. Additionally, for as long as any Note is contained in a Securitization
Trust, the Note Holders shall not amend or modify this Agreement without first 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

 

    	-40- 

     

    

 

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, and (iii) if and to the extent that it
would be deemed given or not required pursuant to the definition of Rating Agency Confirmation in the Lead Securitization Servicing
Agreement and/or Non-Lead Securitization Servicing Agreement.

 

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

 

Section
20.      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
21.      Captions.   The titles and headings of the paragraphs of this Agreement have been
inserted for convenience of reference only and are not intended to summarize or otherwise describe the subject matter of the paragraphs
and shall not be given any consideration in the construction of this Agreement.

 

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

 

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

 

Section
24.      Withholding Taxes.   (a) If the Lead Securitization Note Holder or the Mortgage Loan
Borrower shall be required by law to deduct and withhold Taxes from interest, fees or other amounts payable to any Non-Lead Securitization
Note Holder with respect to the Mortgage Loan as a result of such Non-Lead Securitization Note Holder constituting a Non-Exempt
Person, such Lead Securitization Note Holder, in its capacity as servicer, shall be entitled to do so with respect to such Non-Lead
Securitization Note Holder’s interest in such

 

    	-41- 

     

    

 

payment
(all withheld amounts being deemed paid to such Note Holder), provided that the Lead Securitization Note Holder shall furnish
such Non-Lead Securitization Note Holder with a statement setting forth the amount of Taxes withheld, the applicable rate and
other information which may reasonably be requested for purposes of assisting such Note Holder to seek any allowable credits or
deductions for the Taxes so withheld in each jurisdiction in which such Note Holder is subject to tax.

 

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

 

(c)       Each
Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) represents (for the benefit of the
Mortgage Loan Borrower) that it is not a Non-Exempt Person and that neither the Lead Securitization Note Holder nor the Mortgage
Loan Borrower is obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise
pursuant to this Agreement. Contemporaneously with the execution of this Agreement and from time to time as necessary during the
term of this Agreement, each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) shall
deliver to the Lead Securitization Note Holder or Servicer, as applicable, evidence satisfactory to the Lead Securitization Note
Holder substantiating that such Note Holder is not a Non-Exempt Person and that the Lead Securitization Note Holder is not obligated
under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise under this Agreement.
Without limiting the effect of the foregoing, (i) if a Note Holder is created or organized under the laws of the United States,
any state thereof or the District of Columbia, it shall satisfy the requirements of the preceding sentence by furnishing to the
Lead 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

 

    	-42- 

     

    

 

from
the withholding of United States tax with respect thereto. The Lead Securitization Note Holder shall not be obligated to make
any payment hereunder with respect to any Non-Lead Securitization Note or otherwise until the holder of such Note shall have furnished
to the Lead Securitization Note Holder requested forms, certificates, statements or documents.

 

Section
25.      Custody of Mortgage Loan Documents.   Prior to the Note A-1 Securitization Date,
the originals of all of the Mortgage Loan Documents (other than Note A-2, Note A-3 and Note A-4) will be held by the Initial Agent
on behalf of the registered holders of the Notes. On and after the Note A-1 Securitization Date, the originals of all of the Mortgage
Loan Documents will be transferred to and held in the name of the trustee (and held by a duly appointed custodian therefor) under
the Note A-1 PSA, on behalf of the registered holders of the Notes.

 

Section
26.      Cooperation in Securitization.

 

(a)       Each
Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization. In connection
with a Securitization and subject to the terms of the preceding sentence, at the request of the Lead Securitization Note Holder,
each 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, no Non-Lead Securitization
Note Holder shall be required to modify or amend this Agreement or any Mortgage Loan Documents (or consent to such modification,
as applicable) in connection therewith, if such modification or amendment would (i) change the interest allocable to, or the amount
of any payments due to or priority of such payments to, such Non-Lead Securitization Note Holder or (ii) materially increase such
Non-Lead Securitization Note Holder’s obligations or materially decrease such Non-Lead Securitization Note Holder’s
rights, remedies or protections. In connection with the Lead Securitization, each Non-Lead Securitization Note Holder shall provide
for inclusion in any disclosure document relating to the Lead Securitization such information concerning such Non-Lead Securitization
Note Holder and its Non-Lead Securitization Note as the Lead Securitization Note Holder reasonably determines to be necessary
or appropriate, and such Non-Lead Securitization Note Holder shall, at the Lead Securitization Note Holder’s expense, cooperate
with the reasonable requests of each Rating Agency and Lead Securitization Note Holder in connection with the Lead Securitization
(including, without limitation, reasonably cooperating with the Lead Securitization Note Holder (without any obligation to make
additional representations and warranties) to enable the Lead Securitization Note Holder 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

 

    	-43- 

     

    

 

matters and the preparation of any offering documents thereof and
to review and respond reasonably promptly with respect to any information relating to such Non-Lead Securitization Note Holder
and its Non-Lead Securitization Note in any Securitization document. Each 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, any Note Holder. The Lead Securitization Note Holder will reasonably cooperate with each Non-Lead Securitization Note Holder
by providing all information reasonably requested that is in the Lead Securitization Note Holder’s possession in connection
with such 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 any 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
27.       Notices.   All notices required hereunder shall be given by (i) facsimile transmission
(during business hours) if the sender on the same day sends a confirming copy of such notice by reputable overnight delivery service
(charges prepaid), (ii) reputable overnight delivery service (charges prepaid) or (iii) certified United States mail, postage
prepaid return receipt requested, and addressed to the respective parties at their addresses set forth on Exhibit B hereto,
or at such other address as any party shall hereafter inform the other party by written notice given as aforesaid. All written
notices so given shall be deemed effective upon receipt.

 

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

 

Section
29.      Certain Matters Affecting the Agent.

 

(a)       The
Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any officer’s certificate
or assignment and assumption agreement delivered to the Agent pursuant to Section 14 and Section 15;

 

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

 

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

 

(d)       The
Agent or any of its directors, officers, employees, Affiliates, agents or “control” persons within the meaning of
the Act, shall not be personally liable for any action

 

    	-44- 

     

    

 

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 15;

 

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

 

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

 

Section
30.      Agency.   RESERVED.

 

Section
31.      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
Certificate Administrator or the Trustee in a Securitization is satisfactory to the Note Holders), has agreed to be bound by this
Agreement and perform the duties of the Agent hereunder. SG, as Initial Agent, may transfer its rights and obligations to a Servicer,
the Certificate Administrator or the Trustee, as successor Agent, at any time without the consent of any Note Holder. Notwithstanding
the foregoing, Note Holders hereby agree that, simultaneously with the closing of the Lead Securitization, the Master Servicer
shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place of SG 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.

 

Section
32.      Resizing.   Notwithstanding any other provision of this Agreement, for so long as SG or an affiliate thereof (a
“SG Entity”) is the owner of the Non-Lead Securitization Note (the “Owned Note”), such SG
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 and such reallocated or component notes shall be automatically subject
to the terms of this Agreement, (iv) the SG 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, and (v) the execution of such amendments and New Notes does not violate the Servicing Standard. To the extent
that the Owned Note is a Non-Lead Securitization Note, the SG Entity shall be entitled to designate one of the New Notes to be
treated as a Non-Lead Securitization Note for

 

    	-45- 

     

    

 

purposes of the determining the Controlling Note Holder, Lead Securitization, Lead
Securitization Note, Non-Lead Securitization Servicing Agreement, Non-Lead Securitization and Non-Lead Securitization Date hereunder.
If the Lead Securitization Note Holder so requests, the SG Entity holding the New Notes (and any subsequent holder of such Notes)
shall execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified. Except for the
foregoing reallocation and for modifications pursuant to the Lead Securitization Servicing Agreement (as discussed in Section
5), no Note may be modified or amended without the consent of its holder and the consent of the holder of the other Note. In connection
with the foregoing (provided the conditions set forth in (i) through (v) above are satisfied, with respect to (i) through (iv),
as certified by the SG 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. If more than one New Note is created hereunder,
for purposes of exercising the rights of a Non-Controlling Note Holder hereunder, the Non-Controlling Note Holder of such New
Notes shall be as provided in the definition of such term in this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

    	-46- 

     

    

 

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

  

	 	SOCIÉTÉ GÉNÉRALE,
    as Initial Note A-1
	 	 	Holder
	 	 	 
	 	By:	/s/ Jim Barnard
	 	 	Name: Jim Barnard 
	 	 	Title:   Director
	 	 	 
	 	SOCIÉTÉ GÉNÉRALE,
    as Initial Note A-2
	 	 	Holder
	 	 	 
	 	By:	/s/ Jim Barnard
	 	 	Name: Jim Barnard
	 	 	Title:   Director
	 	 	 
	 	SOCIÉTÉ GÉNÉRALE,
    as Initial Note A-3
	 	 	Holder
	 	 	 
	 	By:	/s/ Jim Barnard
	 	 	Name: Jim Barnard
	 	 	Title:   Director
	 	 	 
	 	SOCIÉTÉ GÉNÉRALE,
    as Initial Note A-4
	 	 	Holder
	 	 	 
	 	By:	/s/ Jim Barnard
	 	 	Name: Jim Barnard
	 	 	Title:   Director

 

 (Agreement
Between Note Holders – TZA Multifamily Portfolio I)

 

    	 

     

    

 

EXHIBIT
A

MORTGAGE LOAN SCHEDULE
  

Description
of Mortgage Loan

 

	Mortgage
    Loan Borrower:	Tzadik
    Acquisitions, LLC
	Date
    of Mortgage Loan:	June
    23, 2017
	Date
    of Notes:	August
    3, 2017
	Original
    Principal Amount of Mortgage Loan:	$108,000,000
	Principal
    Amount of Mortgage Loan as of the date hereof:	$108,000,000
	Initial
    Note A-1 Principal Balance:	$50,000,000
	Initial
    Note A-2 Principal Balance:	$30,000,000
	Initial
    Note A-3 Principal Balance:	$20,000,000
	Initial
    Note A-4 Principal Balance:	$8,000,000
	Location
    of Mortgaged Property:	Various
	Initial
    Maturity Date:	July
    1, 2017

 

    	A-1 

     

    

 

EXHIBIT
B

1.             Initial
Note A-1 Holder:

 

(Prior
to Securitization of Note A-1):

 

Société
Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

 

with
a copy to:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: General Counsel

 

(Following
Securitization of Note A-1):

 

(i)            Depositor:

 

UBS
Commercial Mortgage Securitization Corp.

1285 Avenue of the Americas

New York, New York 10019

Attention: Nicholas Galeone

Email: nicholas.galeone@ubs.com

 

with
a copy to:

UBS AG

153 West 51st Street

New York, New York 10019

Attention: Chad Eisenberger, Executive Director & Counsel

 

and
a copy to:

Cadwalader, Wickersham & Taft LLP

One World Financial Center

New York, New York

Attention: Frank Polverino, Esq.

Facsimile: (212) 504-6820

 

    	B-1 

     

    

 

(ii)            Master
Servicer:

 

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

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head,

Fax number: 1-888-706-3565

 

with
a copy to:

Stinson Leonard Street LLP

1201 Walnut Street

Suite 2900

Kansas City, Missouri 64106-2150

Fax Number: (816) 412-9338

Attention: Kenda K. Tomes

Email: kenda.tomes@stinson.com

 

(iii)          Special
Servicer:

 

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

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

Fax number: 1-888-706-3565

 

with
a copy to:

Stinson Leonard Street LLP

1201 Walnut Street

Suite 2900

Kansas City, Missouri 64106-2150

Fax Number: (816) 412-9338

Attention: Kenda K. Tomes

Email: kenda.tomes@stinson.com

 

(vi)          Certificate
Administrator

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services: UBS 2017-C2

 

with
a copy to:

cts.cmbs.bond.admin@wellsfargo.com

trustadministrationgroup@wellsfargo.com

 

    	B-2 

     

    

 

(v)          
Trustee:

 

Wells
Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services: UBS 2017-C2

 

with
a copy to:

cts.cmbs.bond.admin@wellsfargo.com

trustadministrationgroup@wellsfargo.com

 

(vi)
         Operating Advisor:

Park
Bridge Lender Services LLC

600 Third Avenue, 40th Floor

New York, New York 10016

Attention: UBS 2017-C2 – Surveillance Manager

(with a copy sent contemporaneously via email to:

cmbs.notices@parkbridgefinancial.com)

 

(vii)         Asset
Representations Reviewer:

 

Park
Bridge Lender Services LLC

600 Third Avenue, 40th Floor

New York, New York 10016

Attention: UBS 2017-C2 – Surveillance Manager

(with a copy sent contemporaneously via email to:

cmbs.notices@parkbridgefinancial.com)

 

2.            Initial
Note A-2 Holder:

 

(Prior
to Securitization of Note A-2):

 

Société
Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

 

with
a copy to:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: General Counsel

 

    	B-3 

     

    

 

(Following
Securitization of Note A-2):

 

(i)            Depositor:

 

To
be provided following the securitization of Note A-2.

 

(ii)           Master
Servicer:

 

To
be provided following the securitization of Note A-2.

 

(iii)          Special
Servicer:

 

To
be provided following the securitization of Note A-2.

 

(iv)          Trustee:

 

To
be provided following the securitization of Note A-2.

 

 (v)           Certificate Administrator:

 

To
be provided following the securitization of Note A-2.

 

(vi)
         Operating Advisor:

 

To
be provided following the securitization of Note A-2.

 

(vii)         Asset
Representations Reviewer:

 

To
be provided following the securitization of Note A-2.

 

3.             Initial
Note A-3 Holder:

 

(Prior
to Securitization of Note A-3):

 

Société
Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

 

with
a copy to:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: General Counsel

 

    	B-4 

     

    

 

(Following
Securitization of Note A-3):

 

		(i)	Depositor:

 

To
be provided following the securitization of Note A-3.

 

		(ii)	Master
                                         Servicer:

 

To
be provided following the securitization of Note A-3.

 

		(iii)	Special
                                         Servicer:

 

To
be provided following the securitization of Note A-3.

 

		(iv)	Trustee:

 

To
be provided following the securitization of Note A-3.

 

		(v)	Certificate
                                         Administrator:

 

To
be provided following the securitization of Note A-3.

 

		(vi)	Operating
                                         Advisor:

 

To
be provided following the securitization of Note A-3.

 

		(vii)	Asset
                                         Representations Reviewer:

 

To
be provided following the securitization of Note A-3.

 

4.             Initial
Note A-4 Holder:

 

(Prior
to Securitization of Note A-4):

 

Société
Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard\

 

with
a copy to:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: General Counsel

 

    	B-5 

     

    

 

(Following
Securitization of Note A-4):

 

(i)             Depositor:

 

To
be provided following the securitization of Note A-4.

 

(ii)            Master
Servicer:

 

To
be provided following the securitization of Note A-4.

 

(iii)          Special
Servicer:

 

To
be provided following the securitization of Note A-4.

 

		(iv)	Trustee:

 

To
be provided following the securitization of Note A-4.

 

		(v)	Certificate
                                         Administrator:

 

To
be provided following the securitization of Note A-4.

 

(vi)
         Operating Advisor:

 

To
be provided following the securitization of Note A-4.

 

(vii)         Asset
Representations Reviewer:

 

To
be provided following the securitization of Note A-4.

 

    	B-6 

     

    

 

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.
                                         Roberts 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.	Raith
                                         Capital Partners, LLC

		20.	Rialto
                                         Capital Management LLC

		21.	Rialto
                                         Capital Partners LLC

 

    	C-1

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