Document:

Exhibit 4.5

 

Execution Version

 

AGREEMENT BETWEEN NOTE HOLDERS

 

Dated as of June 28, 2016

by and between

 

BANK OF AMERICA, N.A.

(Initial Note A-1 Holder)

 

and

 

BANK OF AMERICA, N.A.

(Initial Note A-2 Holder)

 

One Stamford Forum 

 

    

     

    

 

TABLE OF CONTENTS

	 	 	 	 
	 	 	 	Page
	 	 	 	 
	Section 1	Definitions	 	1
	Section 2	Servicing of the Mortgage Loan	 	14
	Section 3	Priority of Payments	 	20
	Section 4	Workout	 	21
	Section 5	Administration of the Mortgage Loan	 	21
	Section 6	Rights of the Controlling Note Holder	 	26
	Section 7	Appointment of Special Servicer	 	28
	Section 8	Payment Procedure	 	29
	Section 9	Limitation on Liability of the Note Holders	 	30
	Section 10	Bankruptcy	 	30
	Section 11	Representations of the Note Holders	 	31
	Section 12	No Creation of a Partnership or Exclusive Purchase Right	 	31
	Section 13	Other Business Activities of the Note Holders	 	31
	Section 14	Sale of the Notes	 	32
	Section 15	Registration of the Notes and Each Note Holder	 	35
	Section 16	Governing Law; Waiver of Jury Trial	 	36
	Section 17	Submission To Jurisdiction; Waivers	 	36
	Section 18	Modifications	 	36
	Section 19	Statement of Intent	 	37
	Section 20	Successors and Assigns; Third Party Beneficiaries	 	37
	Section 21	Counterparts	 	37
	Section 22	Captions	 	37
	Section 23	Severability	 	37
	Section 24	Entire Agreement	 	37
	Section 25	Withholding Taxes	 	38
	Section 26	Custody of Mortgage Loan Documents	 	39
	Section 27	Cooperation in Securitization	 	39
	Section 28	Notices	 	40
	Section 29	Broker	 	40
	Section 30	Certain Matters Affecting the Agent	 	40
	Section 31	Reserved	 	41
	Section 32	Resignation or Termination of Agent	 	41
	Section 33	Resizing	 	41

 

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This AGREEMENT BETWEEN
NOTE HOLDERS (this “Agreement”), dated as of June 28, 2016 by and between BANK OF AMERICA, N.A. (“BANA”
and, together with its successors and assigns in interest, in its capacity as initial owner of Note A-1 described below, the “Initial
Note A-1 Holder” and, in its capacity as the initial agent, the “Initial Agent”), and BANA (together
with its successors and assigns in interest, in its capacity as initial owner of Note A-2 described below, the “Initial
Note A-2 Holder”); the Initial Note A-1 Holder and the Initial Note A-2 Holder are referred to collectively herein as
the “Initial Note Holders”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
the Mortgage Loan Agreement (as defined herein), BANA 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 (collectively, the “Mortgage Loan Borrower”), evidenced, inter alia, by
two (2) promissory notes, each dated June 28, 2016 and made by the Mortgage Loan Borrower in favor of BANA, as lender, as follows:
Promissory Note A-1, in the original principal amount of $71,500,000 (as amended, modified, consolidated, or supplemented, “Note
A-1”), and Promissory Note A-2, in the original principal amount of $38,500,000 (as amended, modified, consolidated,
or supplemented, “Note A-2” and, together with Note A-1, the “Notes”). The Notes are secured
by a first mortgage (as amended, modified or supplemented, the “Mortgage”) on certain real property located
as described on the Mortgage Loan Schedule (the “Mortgaged Property”);

 

WHEREAS, BANA, as Initial
Note A-1 Holder, intends to sell, transfer and assign its right, title and interest in and to Note A-1 to Wells Fargo Commercial
Mortgage Securities, Inc. (“WFCMSI”) pursuant to a Mortgage Loan Purchase Agreement dated and effective August
4, 2016, between WFCMSI, as purchaser, and BANA, as seller, and WFCMSI intends to transfer its right, title and interest in and
to Note A-1 to Wilmington Trust, National Association, as trustee for Wells Fargo Commercial Mortgage Trust 2016-BNK1 under a pooling
and servicing agreement, expected to be dated as of August 1, 2016 (the “Note A-1 PSA”), between WFCMSI, as
depositor, Wells Fargo Bank, National Association, as master servicer, Rialto Capital Advisors, LLC, as special servicer, Wells
Fargo Bank, National Association, as certificate administrator, Wilmington Trust, National Association, as trustee, and Park Bridge
Lender Services LLC, as operating advisor and asset representations reviewer;

 

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

 

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

 

Section
1.          Definitions. References to a “Section” or the “recitals” are,
unless otherwise specified, to a Section or the recitals of this Agreement. Capitalized terms not otherwise defined herein
shall have the 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 Note A-1
Securitization Date shall mean the Master Servicer.

 

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

 

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

 

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

 

“Asset Representations
Reviewer” shall mean the asset representations reviewer appointed as provided in the Lead Securitization Servicing Agreement.

 

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

 

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

 

“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).

 

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

 

“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, and the terms “Controlling”
and “Controlled” shall have meanings correlative thereto.

 

“Controlling
Note” shall mean Note A-1.

 

“Controlling
Note Holder” shall mean the holder of the Controlling Note; provided that at any time the Controlling Note is
included in a Securitization, references to the “Controlling Note Holder” herein shall mean the holders of the majority
of the class of securities issued in such Securitization designated as the “controlling class” or any other party that
is assigned the rights to exercise the rights of the “Controlling Note Holder” hereunder, as and to the extent provided
in the related Securitization Servicing Agreement (including without limitation subject to any restrictions applicable to the Mortgage
Loan Borrower or affiliates of the Mortgage Loan Borrower provided in the Lead Securitization Servicing Agreement).

 

“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 the depositor under the Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Interested
Person” shall mean the Depositor, any Non-Lead Depositor, the Master Servicer, any Non-Lead Master Servicer, the Special
Servicer, any Non-Lead Special Servicer, the Trustee, any Non-Lead Trustee, any Mortgage Loan Borrower, any manager of any Mortgaged
Property, any independent contractor engaged by any of the foregoing parties, the Operating Advisor, the Non-Lead Operating Advisor,
the Controlling Note Holder, 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 Securitization”
shall mean the first sale by the Lead Securitization Note Holder of all or a portion of the Lead Securitization Note to a depositor
who will in turn include such portion of the Lead Securitization Note as part of the securitization of one or more mortgage loans.

 

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

 

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

 

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

 

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

 

“Lead Securitization
Servicing Agreement” shall mean the Note A-1 PSA; provided, that during any period that the Mortgage Loan is no
longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement”
shall be determined in accordance with the second paragraph of Section 2(a).

 

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

 

“Major Decisions”
shall mean “Major Decisions” as defined in the Lead Securitization Servicing Agreement.

 

“Master Servicer”
shall mean the master servicer appointed as provided in the Lead Securitization Servicing 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.

 

“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 28, 2016, between BANA, as lender, and the Mortgage Loan Borrower,
as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

 

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

 

“Mortgage Loan
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.

 

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

 

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

 

“New Notes”
shall have the meaning assigned to such term in Section 33.

 

“Non-Controlling
Note” means any Note (other than the Controlling Note), including any New Note designated as a “Non-Controlling
Note” hereunder pursuant to Section 33.

 

“Non-Controlling
Note Holder” means any holder of a Non-Controlling Note; provided that at any time such holder’s respective
Note is included in a Securitization, references to such “Non-Controlling Note Holder” herein shall mean the “Directing
Certificateholder”, “Directing Holder”, “Controlling Class Representative” or any other party assigned
the rights to exercise the rights of such “Non-Controlling Note Holder” hereunder, as and to the extent provided in
the related Non-Lead Securitization Servicing Agreement (including without limitation subject to any restrictions applicable to
the Mortgage Loan Borrower or affiliates of the Mortgage Loan Borrower provided in the 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 as the representative of the “controlling class”
holder(s) in respect of any Note that is exercising the rights of a “Non-Controlling Note Holder” herein or under the
Lead Securitization Servicing Agreement (it being understood, for the avoidance of doubt, that the Lead Securitization Note Holder
(or the Master Servicer or Special Servicer on its behalf) may additionally need to deal with the master servicer, special servicer
or other person party to the related Securitization Servicing Agreement) and (x) to the extent that the related Securitization
Servicing Agreement assigns such rights to more than one party or (y) to the extent any Note is split into two or more New Notes
pursuant to Section 33, for purposes of this Agreement, each applicable Securitization Servicing Agreement shall designate
one such party to deal with the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf)
and provide written notice of such designation to the Lead Securitization Note Holder (and the Master Servicer and the Special
Servicer acting on its behalf); provided that, in the absence of such designation and notice, the Lead Securitization Note
Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as to which
it has received written notice as having been designated as a Non-Controlling Note Holder, as a Non-Controlling Note Holder under
this Agreement.

 

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

 

“Non-Exempt
Person” shall mean any Person other than a Person who is either (i) a U.S. Person or (ii) has on file with the Agent
for the relevant year such duly-executed form(s) or statement(s) which may, from time to time, be prescribed by law and which,
pursuant to applicable provisions of (A) any income tax treaty between the United States and the country

 

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of residence of such Person,
(B) the Code or (C) any applicable rules or regulations in effect under clauses (A) or (B) above, permit any Servicer on behalf
of the Note Holders to make such payments free of any obligation or liability for withholding.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Non-Lead Securitization
Servicing Agreement” shall mean the Note A-2 PSA.

 

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

 

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

 

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

 

“Non-Securitizing
Note Holder” shall mean, with respect to a Securitization, each Note Holder that is not a Securitizing Note Holder with
respect to such Securitization.

 

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

 

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

 

“Note A-1 Principal
Balance” shall mean, with respect to the Mortgage Loan, at any time of determination, the “Note A-1 Principal Balance”
set forth on the Mortgage Loan Schedule, less any payments of principal on Note A-1 received by the Note A-1 Holder or reductions
in the principal balance thereof pursuant to Section 3 or 4, as applicable.

 

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

 

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

 

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

 

“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 “Note A-2 Principal Balance”
set forth on the Mortgage Loan Schedule, less any payments of principal on Note A-2 received by the Note A-2 Holder or reductions
in the principal balance thereof 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.

 

“Note A-2 Securitization
Date” shall mean the closing date of the Note A-2 Securitization.

 

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

 

“Note Holders”
shall mean, collectively, the Note A-1 Holder and the Note A-2 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 have the meaning assigned to such term in the recitals.

 

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“Operating Advisor”
shall mean the operating advisor 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(s) corresponding to the Note securitized pursuant to such Securitization Servicing Agreement.

 

“Percentage
Interest” shall mean, with respect to any Note Holder, a fraction, expressed as a percentage, the numerator of which
is the principal balance of the related Note (which, with respect to the Note A-1 Holder and the Note A-2 Holder shall be the Note
A-1 Principal Balance and the Note A-2 Principal Balance, respectively) and the denominator of which is the principal balance of
the Mortgage Loan.

 

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

 

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

 

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

 

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

 

(a)          an
entity Controlled by, under common Control with or that Controls any of the Initial Note Holders, or

 

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

 

(c)          one
or more of the following:

 

(i)          an
insurance company, bank, savings and loan association, investment bank, trust company, commercial credit corporation, pension plan,

 

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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 such Securitization Vehicle (it being understood that with respect to any Rating Agency
that assigned such a rating to the securities issued by such Securitization Vehicle, a Rating Agency Confirmation will not be required
in connection with a transfer of such Note or any interest therein to such Securitization Vehicle); (2) in the case of a Securitization
Vehicle that is not a CDO, the special servicer of such Securitization Vehicle has a Required Special Servicer Rating or is otherwise
subject to Rating Agency Confirmations from the Rating Agencies rating each Securitization (such entity, an “Approved
Servicer”) and such Approved Servicer is required to service and administer such Note or any interest therein in accordance
with servicing arrangements for the assets held by the Securitization Vehicle which require that such Approved Servicer act in
accordance with a servicing standard notwithstanding any contrary direction or instruction from any other Person; or (3) in the
case of a Securitization Vehicle that is a CDO, the CDO Asset Manager and, if applicable, each Intervening Trust Vehicle that is
not administered and managed by a CDO Asset Manager which is a Qualified Institutional Lender, are each a Qualified Institutional
Lender under clauses (i), (ii), (iv) or (v) of this definition, or

 

(iv)        an
investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments
of at least $250,000,000, in which (A) any Initial Note Holder, (B) a person that is otherwise a Qualified Institutional Lender
under clause (i), (ii) or (v) (with respect to an institution substantially similar to the entities referred
to in clause (i) or (ii) above), or (C) a Permitted Fund Manager, acts as a general partner, managing member, or the fund manager
responsible for the day-to-day management and operation of such investment vehicle and provided that at least 50% of the
equity interests in such investment vehicle are owned, directly or indirectly, by one or more entities that are otherwise Qualified
Institutional Lenders (without regard to the capital surplus/equity and total asset requirements set forth below in the definition),
or

 

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

 

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

 

(d)          any
entity Controlled by any of the entities described in clause (c) (other than clause (c)(iii)) above or that is the subject of a
Rating Agency Confirmation as a Qualified Institutional Lender for purposes of this Agreement from each of the Rating Agencies
engaged by the Depositor and any Non-Lead Depositor to rate the securities issued by the related Securitization Trust.

 

“Qualified Trustee”
means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the
laws of any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept
the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by
federal or state authority, (ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose
long-term senior unsecured debt is rated either of the then in effect top two rating categories of each of the applicable Rating
Agencies (or, if not rated by an applicable Rating Agency, an equivalent (or higher) rating from any two of Fitch, Moody’s
and S&P).

 

“Rating Agencies”
shall mean DBRS, 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 engaged by any Note Holder to rate the securities issued in connection with the Securitization
of the related Note; provided, that, at any time during which one or more of the Notes is an asset of one or more Securitizations,
“Rating Agencies” or “Rating Agency” shall mean only those rating agencies that are engaged
by the related depositor (or its Affiliate) from time to time to rate the securities issued in connection with the Securitizations
of the Notes.

 

“Rating Agency
Communication” shall mean, with respect to any action and any Securitization, any written communication intended for
a Rating Agency, which shall be delivered at least ten (10) Business Days prior to completing such action, in electronic document
format suitable for website posting to the 17g-5 information provider under the applicable Securitization Servicing Agreement.

 

“Rating Agency
Confirmation” shall mean, with respect to any Securitization, a confirmation in writing by each of the applicable Rating
Agencies for such Securitization that the occurrence of the event with respect to which such Rating Agency Confirmation is sought
shall

 

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not result in a downgrade, qualification or withdrawal of the applicable rating or ratings ascribed by such Rating Agency
to any of the securities issued pursuant to such Securitization that are then outstanding. If no such securities are outstanding
with respect to any Securitization, any action that would otherwise require a Rating Agency Confirmation shall instead require
the consent of the Lead Securitization Note Holder, which consent shall not be unreasonably withheld or delayed. For the purposes
of this Agreement, if any Rating Agency shall waive, decline or refuse to review or otherwise engage any request for Rating Agency
Confirmation hereunder, such waiver, declination, or refusal shall be deemed to eliminate, for such request only, the condition
that a Rating Agency Confirmation by such Rating Agency (only) be obtained for purposes of this Agreement. For purposes of clarity,
any such waiver, declination or refusal to review or otherwise engage in any request for a Rating Agency Confirmation hereunder
shall not be deemed a waiver, declination or refusal to review or otherwise engage in any subsequent request for a Rating Agency
Confirmation hereunder and the condition for Rating Agency Confirmation pursuant to this Agreement for any subsequent request shall
apply regardless of any previous waiver, declination or refusal to review or otherwise engage in such prior request.

 

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

 

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

 

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

 

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

 

“Required Special
Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “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, such special servicer has a ranking by Morningstar
equal to or higher than “MOR CS3” as a special servicer, provided that if Morningstar has not issued a ranking with
respect to such special servicer, such

 

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special servicer is acting as special servicer in a commercial mortgage loan securitization
that was rated by a Rating Agency within the twelve (12) month period prior to the date of determination, and Morningstar has not
downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial
mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities,
(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 acting as special servicer in a commercial mortgage loan 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 citing the continuation
of such special servicer as special servicer of such commercial mortgage securities as a material reason for such downgrade or
withdrawal.

 

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

 

“Scheduled Payment”
shall mean the scheduled payment of interest and/or principal due on the Mortgage Loan on a Monthly Payment Date.

 

“Securitization”
shall mean the Note A-1 Securitization and the Note A-2 Securitization, as applicable.

 

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

 

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which one or more of the Notes are held.

 

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

 

“Securitizing
Note Holder” shall mean, with respect to a Securitization, each Note Holder that is contributing its Note to such Securitization.

 

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

 

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

 

“Servicing Advance”
shall have the meaning assigned such term or analogous term in 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, 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 such term or 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 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.

 

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

 

“Trustee”
shall mean the trustee appointed as provided in the Lead Securitization Servicing Agreement.

 

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

 

“WFCMSI”
shall mean Wells Fargo Commercial Mortgage Securities, Inc.

 

Section 2.       Servicing
of the Mortgage Loan.

 

(a)          Each
Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced from and
after the Lead Securitization Date by the Master Servicer and the Special Servicer pursuant to the terms of this Agreement and
the Lead Securitization Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly
payments of principal or interest in respect of any Note other than the Lead Securitization Note if such principal or interest
is not paid by the Mortgage Loan Borrower but shall be obligated to 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
27, reasonably cooperate with such other Note Holder, at such other Note Holder’s expense, to effect such Securitization.
Subject to the terms and conditions of this Agreement,

 

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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). The Lead Securitization Servicing Agreement shall not limit the Servicer
in enforcing the rights of one Note Holder against any other Note Holder as may be required in order to service the Mortgage Loan
as contemplated by this Agreement and the Lead Securitization Servicing Agreement; provided, that it is also understood
and agreed that nothing in this sentence shall be construed to otherwise limit the rights of one Note Holder with respect to any
other Note Holder. Each Servicer shall be required pursuant to the Lead Securitization Servicing Agreement (i) to service the Mortgage
Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement
and applicable law, (ii) to provide information to each servicer under each Non-Lead Securitization Servicing Agreement necessary
to enable each such servicer to perform its servicing duties under such Non-Lead Securitization Servicing Agreement, and (iii)
to not take any action or refrain from taking any action or follow any direction inconsistent with the foregoing.

 

At any time that the
Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note Holders agree to
cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note Holders, pursuant
to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all
references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing agreement;
provided, that if a Non-Lead Securitization Note is in a Securitization and the servicer(s) to be appointed under such replacement
servicing agreement would not otherwise meet the conditions to be a servicer under the Lead Securitization Servicing Agreement
that is being replaced, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to the
securities issued in connection with such Securitization for such Non-Lead Securitization Note; provided, further,
that until a replacement servicing agreement has been entered into, the Lead Securitization Note Holder shall cause the Mortgage
Loan to be serviced pursuant to the provisions of the Lead Securitization Servicing Agreement, as if such agreement were still
in full force and effect with respect to the Mortgage Loan, by the applicable Servicer in the Lead Securitization 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. The Note Holders acknowledge that at any time that the Mortgage Loan is no longer subject to the provisions
of the Lead Securitization Servicing Agreement, the Master Servicer shall have no further obligation to make P&I Advances with
respect to the Mortgage Loan.

 

(b)          The
Master Servicer shall be the lead master servicer on the Mortgage Loan, and from time to time it (or the Trustee, to the extent
provided in the Lead Securitization

 

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Servicing Agreement) shall make the following advances, subject to the terms of the Lead Securitization
Servicing Agreement and this Agreement: (i) Servicing Advances on the Mortgage Loan and (ii) P&I Advances on the Lead Securitization
Note. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to reimbursement for a Servicing
Advance, first from funds on deposit in the Collection Account (as defined in the Lead Securitization Servicing Agreement)
and/or the related Companion Distribution Account (as defined in the Lead Securitization Servicing Agreement) 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 Servicing
Advances that are Nonrecoverable Advances, if such funds on deposit in the Collection Account and Companion Distribution Account
are insufficient, from general collections of the Lead Securitization as provided in the Lead Securitization Servicing Agreement.
The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to reimbursement for interest on a
Servicing Advance (including any Servicing Advance that is a Nonrecoverable Advance) at the Reimbursement Rate in the manner and
from the sources provided in the Lead Securitization Servicing Agreement, including from general collections of the Lead Securitization.
Notwithstanding the foregoing, to the extent the Master Servicer, the Special Servicer or the Trustee, as applicable, obtains funds
from general collections of the Lead Securitization as a reimbursement for a Servicing Advance that is a Nonrecoverable Advance
or any interest on a Servicing Advance (including any Servicing Advance that is a Nonrecoverable Advance) at the Reimbursement
Rate, each Non-Lead Securitization Note Holder (including any Securitization Trust into which such Non-Lead Securitization Note
is deposited) shall be required to, promptly following notice from the Master Servicer, reimburse the Lead Securitization for its
pro rata share of such Servicing Advance that is a Nonrecoverable Advance or interest thereon at the Reimbursement Rate.

 

In addition,
any Non-Lead Securitization Note Holder (including, but not limited to, any Securitization Trust into which such Non-Lead Securitization
Note is deposited) shall be required to, promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse
the Lead Securitization for such Non-Lead Securitization Note Holder’s pro rata share of any fees, costs or expenses
incurred in connection with the servicing and administration of the Mortgage Loan as to which the Master Servicer, the Special
Servicer, the Certificate Administrator, the Trustee, the Operating Advisor 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 related “Companion
Distribution Account” are insufficient for reimbursement of such amounts. Each Non-Lead Securitization Note Holder agrees
to indemnify (as and to the same extent the Lead Securitization Trust is required to indemnify each of the following parties in
respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the Lead Securitization Servicing Agreement)
each of the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee and the Operating
Advisor (and any director, officer, 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

 

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Indemnified Items,
and to the extent amounts on deposit in the related “Companion Distribution Account” are insufficient for reimbursement
of such amounts, each Non-Lead Securitization Note Holder shall be required to, promptly following notice from the Master Servicer,
the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share of the
insufficiency; provided that a Non-Lead Securitization Note Holder’s duty to pay, if any, Indemnified Items to the
Operating Advisor shall be subject to any limitations and conditions (including limitations and conditions with respect to the
timing of such payments and the sources of funds for such payments) as may be set forth from time to time in a Non-Lead Securitization
Servicing Agreement with respect to the Non-Lead Operating Advisor.

 

Any Non-Lead
Master Servicer (or Non-Lead Trustee (if not made by such Non-Lead Master Servicer)) may be required to make P&I Advances on
the respective Non-Lead Securitization Note, from time to time, subject to the terms of the related Non-Lead Securitization Servicing
Agreement, the Lead Securitization Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer and the Trustee,
as applicable, shall be entitled to make their own recoverability determination with respect to a P&I Advance to be made on
the Lead Securitization Note based on the information that they have on hand and in accordance with the Lead Securitization Servicing
Agreement. Any Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee under any Non-Lead Securitization Servicing
Agreement, as applicable, shall be entitled to make its own recoverability determination with respect to a P&I Advance to be
made on the related Non-Lead Securitization Note based on the information that they have on hand and in accordance with the related
Non-Lead Securitization Servicing Agreement. The Master Servicer or the Trustee, as applicable, and any Non-Lead Master Servicer
or Non-Lead Trustee, as applicable, shall each be required to notify the other of the amount of its P&I Advance within two
(2) Business Days of making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect
to the Lead Securitization Note) or a Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee, as applicable (with
respect to a Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable or an
outstanding P&I Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as
applicable, subsequently determines that a proposed Servicing Advance would be non-recoverable or an outstanding Servicing Advance
is or would be non-recoverable, then the Master Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement,
in the case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or such Non-Lead
Master Servicer or Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of a determination
of non-recoverability by a Non-Lead Master Servicer, a Non-Lead Special Servicer or a Non-Lead Trustee) shall notify the Master
Servicer and the Trustee, or the related Non-Lead Master Servicer and the related Non-Lead Trustee, as the case may be, of such
other Securitization within two (2) Business Days of making such determination. Each of the Master Servicer and the Trustee, any
Non-Lead Master Servicer and any Non-Lead Trustee, as applicable, shall only be entitled to reimbursement for a P&I Advance
and interest thereon at the Reimbursement Rate that becomes non-recoverable first from the related Companion Distribution
Account from amounts allocable to the Note for which such P&I Advance was made, and then, if such funds are insufficient,
(i) in the case of the Lead Securitization Note, from general collections of the Lead Securitization Trust, pursuant to the terms
of the Lead Securitization Servicing Agreement and (ii) in the case of a Non-Lead Securitization Note, from general collections
of the related

 

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Securitization Trust, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement.

 

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

 

(i)          such
Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Servicing Advances that are Nonrecoverable
Advances (and interest thereon at the Reimbursement Rate) and any additional trust fund expenses under the Lead Securitization
Servicing Agreement, but only to the extent that they relate to servicing and administration of the Notes, including without limitation,
any unpaid Special Servicing Fees, Liquidation Fees and Workout Fees relating to the Notes, and that if the funds received with
respect to each respective Note are insufficient to cover such Servicing Advances or additional trust fund expenses, (x) the related
Non-Lead Master Servicer will be required to, promptly following notice from the Master Servicer or the Special Servicer, pay or
reimburse the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Operating Advisor, as applicable,
out of general collections in the collection account (or equivalent account) established under such Non-Lead Securitization Servicing
Agreement for such Non-Lead Securitization Note Holder’s pro rata share of any such Servicing Advances that are Nonrecoverable
Advances (and interest thereon at the Reimbursement Rate) and/or additional trust fund expenses under the Lead Securitization Servicing
Agreement relating to the Mortgage Loan, and (y) if the Lead Securitization Servicing Agreement permits the Master Servicer, the
Special Servicer, the Certificate Administrator, the Trustee or the Operating Advisor to reimburse itself from the Lead Securitization
Trust’s general collections, then the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or
the Operating Advisor, as applicable, may do so and the related Non-Lead Master Servicer will be required to, promptly following
notice from the Master Servicer or the Special Servicer, pay or reimburse the Lead Securitization Trust out of general collections
in the collection account (or equivalent account) established under such Non-Lead Securitization Servicing Agreement for such Non-Lead
Securitization Note Holder’s pro rata share of any such Servicing Advances that are Nonrecoverable Advances (and interest
thereon at the Reimbursement Rate) and/or additional trust fund expenses under the Lead Securitization Servicing Agreement relating
to the Mortgage Loan;

 

(ii)        each
of the Indemnified Parties shall be indemnified (as and to the same extent the Lead Securitization Trust is required to indemnify
each of such Indemnified Parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of Lead
Securitization Servicing Agreement) by the Securitization Trust holding such Non-Lead Securitization Note, against any of the Indemnified
Items to the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit in the related
“Companion Distribution Account” are insufficient for reimbursement of such amounts, the related Non-Lead Master Servicer
will be required to reimburse each of the applicable Indemnified Parties for its pro rata share of the insufficiency out
of general collections in the collection account (or equivalent account) established under such Non-Lead Securitization Servicing
Agreement provided that a Non-Lead Securitization

 

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Servicing Agreement shall be deemed to include the same 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 as may
be set forth from time to time in the Non-Lead Securitization Servicing Agreement with respect to the Non-Lead Operating Advisor);

 

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

 

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

 

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

 

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

 

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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) 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.

 

(f)          In
addition to the foregoing, the Lead Securitization Servicing Agreement shall contain terms and conditions that are customary for
securitization transactions involving assets similar to the Mortgage Loan and that are otherwise (i) required by the Code relating
to the tax elections of the trust fund formed pursuant to such Lead Securitization Servicing Agreement, (ii) required by law or
changes in any law, rule or regulation or (iii) requested by the Rating Agencies engaged to rate the related Securitization. The
Lead Securitization Servicing Agreement shall also satisfy Moody’s rating methodology for eligible accounts and permitted
investments for a securitization rated “Aaa” by Moody’s.

 

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

 

Section
3.       Priority of Payments. Each Note shall be of equal priority, and no portion
of any Note shall have priority or preference over any portion of any other Note or security therefor. All amounts tendered
by the Mortgage Loan Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage
Loan or the Mortgaged Property or amounts realized as proceeds thereof, whether received in the form of Scheduled Payments,
the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or instrument
securing the Mortgage Loan, Condemnation Proceeds, or Insurance Proceeds (other than proceeds, awards or settlements to be
applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with
the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC Provisions), shall be applied by the Lead
Securitization Note Holder (or its designee) to the Notes on a Pro Rata and Pari Passu Basis; provided, that
(x) all amounts for required reserves or escrows required by the Mortgage Loan Documents (to the extent and 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 shall be applied to the extent set forth in,
and in accordance with the terms of, the Mortgage Loan Documents; and (y) all amounts that are then due, payable or

 

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reimbursable to any Servicer with respect to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement and
any other additional compensation payable to it thereunder (including without limitation, any additional trust fund expenses
under the Lead Securitization Servicing Agreement relating to the Mortgage Loan (but subject to the second paragraph of Section
5(d) hereof) reimbursable to, or payable by, such parties and any Special Servicing Fees, Liquidation Fees, Workout Fees,
Penalty Charges (to the extent provided in the immediately following paragraph), but excluding (i) any P&I Advances (and
interest thereon) on the Lead Securitization Note, which shall be reimbursed in accordance with Section 2(b) hereof,
and (ii) any Servicing Fees due to the Master Servicer in excess of each Non-Lead Securitization Note’s pro rata
share of that portion of such servicing fees calculated at the “primary servicing fee rate” applicable to the
Mortgage Loan as set forth in the Lead Securitization Servicing Agreement, which such excess shall not be subject to the
allocation provisions of this Section 3) shall be payable in accordance with the Lead Securitization Servicing
Agreement.

 

For clarification purposes,
“Penalty Charges” (or analogous term as defined in the Lead Securitization Servicing Agreement) paid on each Note shall
first, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary to pay the
Master Servicer, the Trustee or the Special Servicer for any interest accrued on any Servicing Advances and reimbursement of any
Servicing Advances in accordance with the terms of the Lead Securitization Servicing Agreement, second, be used to
reduce the respective amounts payable on each Note by the amount necessary to pay the Master Servicer, Trustee, any Non-Lead Master
Servicer or any Non-Lead Trustee, as applicable, for any interest accrued on any P&I Advance made with respect to such Note
by such party (if and as specified in the Lead Securitization Servicing Agreement or applicable Non-Lead Securitization Servicing
Agreement, as applicable), third, be used to reduce, on a pro rata basis, the amounts payable on each Note by the
amount necessary to pay additional trust fund expenses under the Lead Securitization Servicing Agreement (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, with respect to any remaining amount of Penalty Charges, (x) prior to the securitization
of the Lead Securitization Note or at any time the Mortgage Loan is not being serviced pursuant to a Securitization Servicing Agreement,
pro rata to each Note Holder, and (y) following the securitization of the Lead Securitization Note, to the Master Servicer
and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement..

 

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.

 

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

 

Each Note Holder
hereby acknowledges the right and obligation of the Lead Securitization Note Holder (or the Special Servicer acting on behalf of
the Lead Securitization Note Holder), upon the Mortgage Loan becoming a Defaulted Loan, to sell the Notes together as notes evidencing
one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement. In connection with any such sale, the
Special Servicer shall be required to sell the Notes together as notes evidencing one whole loan and shall require that all offers
be submitted to the Trustee in writing. Whether any cash offer constitutes a fair price for the Mortgage Loan shall be determined
by the Special Servicer (unless the offeror is an Interested Person, in which case the Trustee shall make such determination);
provided, that no offer from an Interested Person shall constitute a fair price unless (i) it is the highest offer received
and (ii) at least two bona fide other offers are received from independent third parties. In determining whether any offer received
represents a fair price for the Mortgage Loan, the Trustee or the Special Servicer, as applicable, shall be supplied with and shall
rely on the most recent Appraisal or updated Appraisal conducted in accordance with the Lead Securitization Servicing Agreement
within the preceding nine (9)-month period or, in the absence of any such Appraisal, on a new Appraisal. The Trustee shall select
the appraiser conducting any such new Appraisal. In determining whether any such offer constitutes a fair price for the Mortgage
Loan, the Trustee or the Special Servicer, as applicable, shall instruct the appraiser to take into account (in addition to the
results of any Appraisal or updated Appraisal that it may have obtained

 

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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 its behalf) 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 each 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 Servicer Mortgage 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 Lead Securitization Directing Certificateholder) prior to the proposed sale date, all information and
other documents being provided to other offerors and all leases or other documents that are approved by the Master Servicer or
the Special Servicer in connection with the proposed sale. Subject to the foregoing, each Note Holder or its Note Holder Representative
shall be permitted to submit an offer at any sale of the Mortgage Loan.

 

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

 

The authority
of the Lead Securitization Note Holder to sell any Non-Lead Securitization Note, and the obligations of any other Note Holder to
execute and deliver instruments or deliver the related Note upon request of the Lead Securitization Note Holder, shall terminate
and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization Note is repurchased by
the holder of such Lead Securitization Note that sold such Lead Securitization Note into such Securitization from the trust fund
established under the Lead Securitization Servicing Agreement in connection with a material breach of representation or warranty
made by such Person with respect to the Lead Securitization Note or material document defect with respect to the documents delivered
by such Person with respect to the Lead Securitization Note upon the consummation of the Lead Securitization. The preceding sentence
shall not be construed to grant to any Non-Lead Securitization Note Holder the benefit of any representation or warranty made by
the holder of the Lead Securitization

 

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

 

(b)          The
administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The servicing
of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Loan (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 to the extent set forth in the Lead Securitization
Servicing Agreement. The Lead Securitization Servicing Agreement shall not be amended in any manner that may adversely affect any
Non-Lead Securitization Note Holder in its capacity as Non-Lead Securitization Note Holder without such Non-Lead Securitization
Note Holder’s prior written consent. Each Non-Lead Securitization Note Holder (unless it is, or is 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
Directing Certificateholder pursuant to (notwithstanding the existence of any “control termination event” (or analogous
term) under) the Lead Securitization Servicing Agreement with respect to any Major Decisions or the implementation of any recommended
actions outlined in an Asset Status Report relating to the Mortgage Loan, to each Non-Lead Securitization Note Holder (or its Note
Holder Representative), within the same time frame it is required to provide to the Lead Securitization Directing Certificateholder
(for this purpose, without regard to whether such items are actually required to be provided to the Lead Securitization Directing
Certificateholder under the Lead Securitization Servicing Agreement due to the occurrence of a Control Termination Event or a Consultation
Termination Event) and (ii) to use reasonable efforts to consult with each Non-Controlling Note Holder (or its Non-Controlling
Note Holder Representative) on a strictly non-binding basis, to the extent having received such notices, information and reports,
such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) requests consultation with respect to any
such Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage
Loan, and consider alternative actions recommended by such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative);
provided that after the expiration of a period of ten (10) Business Days from the delivery to such Non-Controlling Note
Holder (or its Non-Controlling Note Holder Representative) by the Lead

 

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

 

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

 

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Servicing Agreement relating to the administration of the Mortgage Loan. All costs and expenses of compliance
with this Section 5(d), to the extent that such costs and expenses relate to administration of a REMIC or to any determination
respecting the amount, payment or avoidance of any tax under the REMIC Provisions or the actual payment of any REMIC tax or expense,
shall be borne by each Note Holder solely with respect to the REMIC trust that includes its own Note. Without limiting the generality
of the foregoing, one Note Holder (the “Uninvolved Note Holder”) shall not be required to reimburse any other Note
Holder or any other Person for payment of the following items related to any REMIC that has not or did not include the Uninvolved
Note Holder’s Note: (i) any taxes imposed on any such REMIC, (ii) any costs or expenses relating to the administration of
any such REMIC or to any determination respecting the amount, payment or avoidance of any tax under any 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 the Uninvolved Note Holder be reduced to offset or make-up any such payment or deficit.

 

Section
6.       Rights of the Controlling Note Holder. The Controlling Note Holder shall have the right at any time to
appoint a representative in connection with the exercise of its rights and obligations with respect to the Mortgage Loan (the
“Controlling Note Holder Representative”). The Controlling Note Holder shall have the right in its sole
discretion at any time and from time to time to remove and replace the Controlling Note Holder Representative. When
exercising its various rights under Section 5 and elsewhere in this Agreement, the Controlling Note Holder may, at its
option, in each case, act through the Controlling Note Holder Representative. The Controlling Note Holder Representative may
be any Person, including, without limitation, the Controlling Note Holder, any officer or employee of the Controlling Note
Holder, any affiliate of the Controlling Note Holder or any other unrelated third party (other than the Mortgage Loan
Borrower, any manager of a Mortgaged Property or any principal or Affiliate thereof). 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 such 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). The Controlling Note
Holder shall promptly deliver such information to any Servicer. None of the Servicers, Operating Advisor and Trustee shall be
required to recognize any person as a Controlling Note Holder Representative until they receive such information from the
Controlling Note Holder. The Controlling Note Holder agrees to inform each such Servicer or Trustee of the then-current
Controlling Note Holder Representative.

 

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,

 

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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
and the Controlling Note Holder may have special relationships and interests that conflict with the interests of another Note Holder
and, absent willful misfeasance, bad faith or gross negligence 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.

 

Each Non-Controlling
Note Holder shall provide notice of its identity and contact information (including any change thereof) to the Trustee, Certificate
Administrator, the Master Servicer and the Special Servicer under the Lead Securitization; provided, that each Initial Note
Holder shall be deemed to have provided such notice on the date hereof. The Trustee, Certificate Administrator, the Master Servicer
and the Special Servicer under the Lead Securitization shall be entitled to conclusively rely on such identity and contact information
received by it and shall not be liable in respect of any deliveries hereunder sent in reliance thereon.

 

Each Non-Controlling
Note Holder shall have the right at any time to appoint a representative in connection with the exercise of its rights and obligations
with respect to the Mortgage Loan (with respect to such Note Holder, the “Non-Controlling Note Holder Representative”).
All of the provisions relating to the Controlling Note Holder and the Controlling Note Holder Representative set forth in the first
paragraph of this Section 6(a) (except those contained in the last sentence thereof) and the second paragraph of this Section
6(a) shall apply to each Non-Controlling Note Holder and its Non-Controlling Note Holder Representative mutatis mutandis.
The Non-Controlling Note Holder Representative with respect to Note A-2, as of the date of this Agreement and until the Lead Securitization
Note Holder (and the Master Servicer and the Special Servicer) is notified otherwise, shall be the Initial Note A-2 Holder, provided
that at any time Note A-2 is included in a Securitization, references to the “Non-Controlling Note Holder” herein shall
mean the related “Directing Certificateholder” or “Controlling Class Representative” under the Non-Lead
Securitization or any other party assigned the rights to exercise the rights of the related “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.

 

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

 

Section
7.       Appointment of Special Servicer. The Controlling Note Holder (or its Controlling Note Holder
Representative) shall have the right (subject to the terms, conditions and limitations in the Lead Securitization Servicing
Agreement) at any time and from time to time, with or without cause, to replace the Special Servicer then acting with respect
to the Mortgage Loan and appoint a replacement Special Servicer 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 Special Servicer and each other party to the Lead Securitization
Servicing Agreement a written notice stating such designation and satisfying the other conditions to such replacement as set
forth in the Lead Securitization Servicing Agreement (including, without limitation, a Rating Agency Communication or a
Rating Agency Confirmation, but only 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 (or at any time that the Mortgage Loan is no longer subject to the
provisions of the Lead Securitization Servicing Agreement, the successor servicing agreement pursuant to which the Mortgage
Loan is being serviced) solely with respect to the Mortgage Loan pursuant to and in accordance with the terms of the Lead
Securitization Servicing Agreement (or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead
Securitization Servicing Agreement, the successor servicing agreement pursuant to which the Mortgage Loan is being serviced).
Each Note Holder acknowledges and agrees that any successor special servicer appointed to replace the Special Servicer with
respect to the Mortgage Loan that was terminated for cause at a Non-Controlling Note Holder’s direction cannot at any
time be the person (or an Affiliate thereof) that was so terminated without the prior written consent of such Non-Controlling
Note Holder. Each Non-Controlling Note Holder shall be solely responsible for reimbursing the Trustee’s or the
Controlling Note Holder’s, as applicable, costs and expenses, if not paid within a reasonable time by the
terminated special servicer and, in the case of the Trustee, that would otherwise be reimbursed to the Trustee from amounts
on deposit in the Lead Securitization’s “collection account” (or equivalent account).

 

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Section 8.  Payment
Procedure.

 

    (a)          The
Lead Securitization Note Holder (or the Master Servicer acting on its behalf), in accordance with the priorities set forth in Section
3 and subject to the terms of the Lead Securitization Servicing Agreement, shall deposit or cause to be deposited all payments
allocable to the Notes to the Collection Account and/or related Companion Distribution Account (or analogous terms each as defined
in the Lead Securitization Servicing Agreement) pursuant to and in accordance with the Lead Securitization Servicing Agreement.
The Lead Securitization Note Holder (or the Master Servicer acting on its behalf) shall deposit such payments to the applicable
account within one (1) Business Day of 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, that to the extent that any payment
is received after 2:00 p.m. (Eastern Time) on any given Business Day, the Master Servicer is required to use commercially reasonable
efforts to deposit such payments into the applicable account within one (1) Business Day of receipt of such payments but, in any
event, the Master Servicer is required to deposit such payments into the applicable account within two (2) Business Days of receipt
of such payments).

 

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

 

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

 

    (d)          Each
Note Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan
in excess of its distributable

 

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share thereof, it shall promptly remit such excess to the applicable Note Holder, subject to this
Agreement and the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder shall have the right to offset any
amounts due hereunder from a Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments
due to such Non-Lead Securitization Note Holder under the Mortgage Loan. Such Non-Lead Securitization Note Holder’s obligations
under this Section 8 constitute absolute, unconditional and continuing obligations.

 

Section
9.       Limitation on Liability of the Note Holders. No Note Holder shall have any liability to any other Note
Holder with respect to its Note except with respect to losses actually suffered due to the gross negligence, willful
misconduct or breach of this Agreement on the part of such Note Holder; provided, that, notwithstanding any of the
foregoing to the contrary, each Servicer will nevertheless be subject to the obligations and standards (including the
Servicing Standard) set forth in the related Securitization Servicing Agreement.

 

The Note Holders acknowledge
that, subject to the obligation of the Lead Securitization Note Holder (including any Servicer and the Trustee on its behalf) to
comply with, and except as otherwise required by, the Servicing Standard, the Lead Securitization Note Holder (including any Servicer
and the Trustee on its behalf) may exercise, or omit to exercise, any rights that the Lead Securitization Note Holder may have
under the Lead Securitization Servicing Agreement in a manner that may be adverse to the interests of any Non-Lead Securitization
Note Holder and that the Lead Securitization Note Holder (including any Servicer and the Trustee on its behalf) shall have no liability
whatsoever to any Non-Lead Securitization Note Holder in connection with the Lead Securitization Note Holder’s exercise of
rights or any omission by the Lead Securitization Note Holder to exercise such rights other than as described above; provided,
that each 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 (or the Servicer on its behalf) has the right to institute, file, commence, acquiesce, petition
under Bankruptcy Code Section 303 or otherwise or join any Person in any such petition or otherwise invoke or cause any other
Person to invoke an Insolvency Proceeding with respect to or against the Mortgage Loan Borrower or seek to appoint a
receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official with respect to the Mortgage Loan
Borrower or all or any part of its property or assets or ordering the winding-up or liquidation of the affairs of the
Mortgage Loan Borrower. Each Note Holder further agrees that only the Lead Securitization Note Holder, and not any Non-Lead
Securitization Note Holder, can make any election, give any consent, commence any action or file any motion, claim,
obligation, notice or application or take any other action in any case by or against the Mortgage Loan Borrower under the
Bankruptcy Code or in any other Insolvency Proceeding. The Note Holders hereby appoint the Lead Securitization Note Holder as
their agent, and grant to the Lead Securitization Note Holder an irrevocable power of attorney coupled with an interest, and
their proxy, for the purpose of exercising any and all rights and taking any and all actions available to any Non-Lead
Securitization Note Holder in connection with any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or
in any other Insolvency Proceeding, including, without limitation, the right to file and/or prosecute any claim, vote to
accept or reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage
Loan, and to file a motion to modify, lift or

 

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terminate the automatic stay with respect to the Mortgage Loan. The Note
Holders hereby agree that, upon the request of the Lead Securitization Note Holder, each Non-Lead Securitization Note Holder
shall execute, acknowledge and deliver to the Lead Securitization Note Holder all and every such further deeds, conveyances
and instruments as the Lead Securitization Note Holder may reasonably request for the better assuring and evidencing of the
foregoing appointment and grant. All actions taken by any Servicer in connection with any Insolvency Proceeding are subject
to and must be in accordance with the Servicing Standard and the terms of this Agreement.

 

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

 

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Affiliate thereof, any entity that is a holder of debt secured by direct
or indirect ownership interests in the Mortgage Loan Borrower or any Affiliate thereof or any entity that is a holder of a
preferred equity interest in the Mortgage Loan Borrower or any Affiliate thereof (each, a “Mortgage Loan Borrower
Related Party”), and receive payments on such other loans or extensions of credit to Mortgage Loan Borrower Related
Parties and otherwise act with respect thereto freely and without accountability in the same manner as if this Agreement and
the transactions contemplated hereby were not in effect.

 

Section 14. Sale
of the Notes.

 

   (a)          Each
Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate, hypothecate, contribute, encumber or otherwise dispose
of all or any portion of its respective Note (or a participation interest in such Note) (a “Transfer”) except
to a Qualified Institutional Lender in accordance with the terms of this Agreement. Promptly after any such Transfer, any non-transferring
Note Holders shall be provided with (x) a representation from each transferee or the transferring Note Holder certifying that such
transferee is a Qualified Institutional Lender (except in the case of a Transfer in accordance with the immediately following sentence
or a Transfer by a Note Holder to an entity that constitutes a Qualified Institutional Lender pursuant to clause (c)(iii) of the
definition thereof) and (y) a copy of the assignment and assumption agreement referred to in Section 15 (unless the transferee
is a Securitization Trust and the related pooling and servicing agreement requires the parties thereto to comply with this Agreement).
If a Note Holder intends to Transfer its respective Note, or any portion thereof, to an entity that is not a Qualified Institutional
Lender, it must first (a) obtain the consent of each non-transferring Note Holder and (b) if any such non-transferring Note Holder’s
Note is held in a Securitization Trust, as and to the extent required by the applicable Securitization Servicing Agreement, deliver
a rating Agency Communication (if a Rating Agency Confirmation is not required thereunder) to, or obtain a Rating Agency Confirmation
from, each of the applicable engaged Rating Agencies for such Securitization Trust. Notwithstanding the foregoing, without each
non-transferring Note Holder’s prior consent (which will not be unreasonably withheld), and, if any non-transferring Note
Holder’s Note is held in a Securitization Trust, without a Rating Agency Confirmation from, or Rating Agency Communication
to, as applicable, each engaged Rating Agency for such Securitization Trust, no Note Holder shall Transfer all or any portion of
its Note (or a participation interest in such Note) to the Mortgage Loan Borrower or a 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 shall pay the expenses of any non-transferring Note Holder (including all expenses of the Master Servicer,
the Special Servicer, the Trustee and any Controlling Note Holder or Controlling Note Holder Representative) and all expenses relating
to any Rating Agency Confirmation or Rating Agency Communication in connection with any such Transfer. Notwithstanding the foregoing,
each Note Holder shall have the right, without the need to obtain the consent of any other Note Holder or of any other Person or
having to provide any Rating Agency Confirmation or Rating Agency Communication, to Transfer 49% or less (in the aggregate) of
its beneficial interest in a Note. None of the provisions of this Section 14(a) shall apply in the case of (1) a sale of
the Lead Securitization Note together with all of the Non-Lead Securitization Notes, in accordance with the terms and conditions
of the Lead Securitization Servicing Agreement or (2) a transfer by the Special Servicer, in accordance with the terms and conditions
of the Lead Securitization 

 

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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 Rating
Agency Confirmation, such waiver, declination, or refusal shall be deemed to eliminate, for such request only, the condition that
such confirmation by such Rating Agency (only) be obtained for purposes of this Agreement. For purposes of clarity, any such waiver,
declination or refusal to review or otherwise engage in any request for such confirmation hereunder shall not be deemed a waiver,
declination or refusal to review or otherwise engage in any subsequent request for such Rating Agency Confirmation hereunder and
the condition for such Rating Agency Confirmation pursuant to this Agreement for any subsequent request shall apply regardless
of any previous waiver, declination or refusal to review or otherwise engage in such prior request.

 

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

 

(c)          Notwithstanding
any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any entity (other than the Mortgage
Loan Borrower or any Affiliate thereof) which has extended a credit facility to such Note Holder and that is either a Qualified
Institutional Lender or a financial institution whose long-term unsecured debt is rated at least “A” (or the equivalent)
or better by each applicable Rating Agency (or, if not rated by an applicable Rating Agency, an equivalent (or higher) rating from
any two of Fitch, Moody’s and S&P) (a “Note Pledgee”), on terms and conditions set forth in this Section
14(c), it being further agreed that a financing provided by a Note Pledgee to a Note Holder or any person which Controls such
Note that is secured by its Note and is structured as a repurchase arrangement, shall qualify as a “Pledge” hereunder,
provided that a Note Pledgee which is not a Qualified Institutional Lender may not take title to the pledged Note without
a Rating Agency Confirmation. Upon written notice by the applicable Note Holder to each other Note Holder and any Servicer that
a Pledge has been effected (including the name and address of the applicable Note Pledgee), each other Note Holder agrees to acknowledge
receipt of such notice and thereafter agrees: (i) to give Note Pledgee written notice of any default by the pledging Note Holder
in respect of its obligations under this Agreement of which default such Note Holder has 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

 

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

 

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

 

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

 

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

 

(iii)       Such
Note Holder pledges (or sells, transfers or assigns as part of a repurchase facility) its interest in its Note to the Conduit as
collateral for the Conduit Inventory Loan;

 

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

 

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

 

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

 

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

 

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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 delivering a Rating Agency Communication to each Rating
Agency; provided that no such Rating Agency Communication shall be required in connection with a modification (i) to
cure any ambiguity, to correct or supplement any provisions herein that

 

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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 33).

 

Section
19.          Statement of Intent. The Agent and each Noteholder intend that the Notes be classified and maintained as a
grantor trust under subpart E, part I of subchapter J of chapter 1 of the Code that is a fixed investment trust within the
meaning of Treasury Regulation §301.7701-4(c), and the parties will not take any action inconsistent with such
classification. It is neither the purpose nor the intent of this Agreement to create a partnership, joint venture,
“taxable mortgage pool” or association taxable as a corporation among the parties.

 

Section
20.         Successors and Assigns; Third Party Beneficiaries. This
Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns.
Except as provided herein, including without limitation, with respect to the Trustee, Certificate Administrator, Master
Servicer and Special Servicer and any Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee, none of the
provisions of this Agreement shall be for the benefit of or enforceable by any Person not a party hereto. Subject to Section
14 and Section 15, each Note Holder may assign or delegate its rights or obligations under this Agreement. Upon
any such assignment, the assignee shall be entitled to all rights and benefits of the applicable Note Holder hereunder. For
the avoidance of doubt, the representations in Section 11 shall not be binding upon any Securitization Trust.

 

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

 

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

 

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

 

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

 

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

 

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

 

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of interest or other amounts by
the Mortgage Loan Borrower is treated for United States income tax purposes as derived in whole or part from sources within the
United States, such Note Holder shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization
Note Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments), Form W-8BEN or Form W-8BEN-E, or
successor forms, as may be required from time to time, duly executed by such Note Holder, as evidence of such Note Holder’s
exemption from the withholding of United States tax with respect thereto. The Lead Securitization Note Holder shall not be obligated
to make any payment hereunder with respect to any Non-Lead Securitization Note or otherwise until the holder of such Note shall
have furnished to the Lead Securitization Note Holder requested forms, certificates, statements or documents.

 

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

 

Section 27.          Cooperation
in Securitization.

 

(a)          Each
Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization. In connection
with a Securitization and subject to the terms of the preceding sentence, at the request of the related Securitizing Note Holder,
each related Non-Securitizing Note Holder shall use reasonable efforts, at such Securitizing Note Holder’s expense, to satisfy,
and to cooperate with such Securitizing Note Holder in attempting to cause the Mortgage Loan Borrower to satisfy, the market standards
to which such Securitizing Note Holder customarily adheres or that may be reasonably required in the marketplace or by the Rating
Agencies in connection with such Securitization, including, entering into (or consenting to, as applicable) any modifications to
this Agreement or the Mortgage Loan Documents and to cooperate with such Securitizing Note Holder in attempting to cause the Mortgage
Loan Borrower to execute such modifications to the Mortgage Loan Documents, in any such case, as may be reasonably requested by
the Rating Agencies to effect such Securitization; provided, that no Non-Securitizing Note Holder shall be required to modify
or amend this Agreement or any Mortgage Loan Documents (or consent to such modification, as applicable) in connection therewith,
if such modification or amendment would (i) change the interest allocable to, or the amount of any payments due to or priority
of such payments to, such Non-Securitizing Note Holder or (ii) materially increase such Non-Securitizing Note Holder’s obligations
or materially decrease such Non-Securitizing Note Holder’s rights, remedies or protections. In connection with any Securitization,
each related Non-Securitizing Note Holder shall provide for inclusion in any disclosure document relating to such Securitization
such information concerning such Non-Securitizing Note Holder and its Note as the related Securitizing Note Holder reasonably determines
to be necessary or appropriate, and such Non-Securitizing Note Holder shall, at the Securitizing Note Holder’s expense, cooperate
with the

 

    -39-

     

    

 

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

 

Upon request, each Securitizing
Note Holder shall deliver to each related Non-Securitizing Note Holder drafts of the preliminary and final offering memoranda,
prospectus supplement, free writing prospectus and any other disclosure documents and the pooling and servicing agreement for the
Securitization of such Securitizing Note Holder’s Note and provide reasonable opportunity to review and comment on such documents.

 

Section
28.          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.

 

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

 

Section 30.          Certain
Matters Affecting the Agent.

 

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

 

    -40-

     

    

 

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

 

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

 

(e)          The
Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate or assignment
and assumption agreement delivered to the Agent pursuant to Section 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 31.          Reserved.

 

Section
32.          Resignation or Termination of Agent. The Agent may resign at any time on ten (10) days’ prior notice,
so long as a successor Agent, reasonably satisfactory to the Note Holders (it being agreed that a Servicer, the Trustee or a
Certificate Administrator in a Securitization is satisfactory to the Note Holders), has agreed to be bound by this Agreement
and perform the duties of the Agent hereunder. BANA, as Initial Agent, may transfer its rights and obligations to a Servicer,
the Trustee or the Certificate Administrator, as successor Agent, at any time without the consent of any Note Holder.
Notwithstanding the foregoing, Note Holders hereby agree that, simultaneously with the closing of the Lead Securitization,
the Master Servicer shall be deemed to have been automatically appointed as the successor Agent under this Agreement in place
of BANA without any further notice or other action. The termination or resignation of such Master Servicer, as Master
Servicer under the Lead Securitization Servicing Agreement, shall be deemed a termination or resignation of such Master
Servicer as Agent under this Agreement, and any successor master servicer shall be deemed to have been automatically
appointed as the successor Agent under this Agreement in place thereof without any further notice or other action.

 

Section
33.          Resizing. Notwithstanding any other provision of this Agreement, for so long as BANA or an affiliate thereof
(an “BANA Entity”) is the owner of any Non-Lead Securitization Note (each, an “Owned
Note”), such BANA Entity shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the
Mortgage Loan Borrower to execute amended and restated notes or additional notes (in each case, as applicable, “New
Notes”) reallocating the principal of an Owned Note to such New Notes; or severing an Owned Note into one or more
further “component” notes in the aggregate principal amount equal to the then outstanding principal balance of
such Owned Note provided that (i) the aggregate principal

 

    -41-

     

    

 

balance of all outstanding New Notes following such amendments is
no greater than the aggregate principal of such 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 and
(iv) the BANA 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. If the
Lead Securitization Note Holder so requests, the BANA Entity holding the New Notes (and any subsequent holder of such Notes)
shall execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified. Except for
the foregoing reallocation and for modifications pursuant to the Lead Securitization Servicing Agreement (as discussed in Section
5), no Note may be modified or amended without the consent of its holder and the consent of the holder of each other
Note. In connection with the foregoing (provided the conditions set forth in clauses (i) through (iv) above are satisfied, as
certified by the BANA Entity, on which certification the Master Servicer can rely), the Master Servicer is hereby
authorized and directed to execute amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of
the Note Holders, as applicable, solely for the purpose of reflecting such reallocation of principal and that each New Note
shall be a “Note” hereunder and for the purpose of adding and modifying any definitions related thereto. If more
than one New Note is created hereunder, for purposes of exercising the rights of a Controlling Note Holder or Non-Controlling
Note Holder hereunder, the “Controlling Note Holder” or “Non-Controlling Note Holder”, as applicable,
shall be as provided in the definitions of such terms in this Agreement; provided that the Controlling Note Holder
shall be entitled to designate any New Note created from the existing Controlling Note to be a Non-Controlling Note
hereunder.

 

[SIGNATURE PAGE FOLLOWS]

 

    -42-

     

    

 

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

 

	 	BANK OF AMERICA, N.A., as Initial Note A-1 Holder
	 	 	 
	 	By:	/s/ Steven Wasser
	 	 	Name:   Steven Wasser
	 	 	Title:     Managing Director
	 	 	 
	 	BANK OF AMERICA, N.A., as Initial Note A-2 Holder
	 	 	 
	 	By:	/s/ Steven Wasser
	 	 	Name:    Steven Wasser
	 	 	Title:      Managing Director

 

One Stamford Forum Agreement Between Note Holders

 

     

     

    

 

EXHIBIT A

 

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan

 

	Mortgage Loan Borrower:	One Stamford Realty L.P.
	Date of Mortgage Loan: 	June 28, 2016
	Date of Promissory Notes: 	June 28, 2016
	Original Principal Amount of Mortgage Loan:	$110,000,000
	Principal Amount of Mortgage Loan as of the date hereof:	$110,000,000
	Promissory Note A-1 Principal Balance:	$71,500,000
	Promissory Note A-2 Principal Balance:	$38,500,000
	Location of Mortgaged Property:	Stamford, Connecticut
	Initial Maturity Date:	July 1, 2026

 

    A-1 

     

    

 

EXHIBIT B

 

1.     Initial
Note A-1 Holder:

 

(Prior to Securitization of Note A-1):

 

Bank of America, N.A.

NC1-027-15-01

214 North Tryon Street

Charlotte, North Carolina 28255

Attention: Steven L. Wasser

Email: steve.l.wasser@baml.com

 

with a copy to:

 

W. Todd Stillerman, Esq.

Bank of America Corporation

NC1-027-20-05

214 North Tryon Street, 20th
Floor

Charlotte, North Carolina 28255

Email: william.stillerman@bankofamerica.com

 

Following Securitization of Note A-1, the applicable notice
addresses set forth in the related Securitization Servicing Agreement.

 

2.     Initial
Note A-2 Holder:

 

Bank of America, N.A.

NC1-027-15-01

214 North Tryon Street

Charlotte, North Carolina 28255

Attention: Steven L. Wasser

Email: steve.l.wasser@baml.com

 

with a copy to:

 

W. Todd Stillerman, Esq.

Bank of America Corporation

NC1-027-20-05

214 North Tryon Street, 20th Floor

Charlotte, North Carolina 28255

Email: william.stillerman@bankofamerica.com

 

Following Securitization of Note A-2, the applicable notice
addresses set forth in the related Securitization Servicing Agreement.

 

    B-1

     

    

 

EXHIBIT C

PERMITTED FUND MANAGERS

	1.	Alliance Bernstein
	2.	Annaly Capital Management
	3.	Apollo Real Estate Advisors
	4.	Archon Capital, L.P.
	5.	AREA Property Partners
	6.	Artemis Real Estate Partners
	7.	BlackRock, Inc.
	8.	Capital Trust, Inc.
	9.	Clarion Partners
	10.	Colony Capital, LLC / Colony Financial, Inc.
	11.	CreXus Investment Corporation/Annaly Capital Management
	12.	DLJ Real Estate Capital Partners
	13.	Dune Real Estate Partners
	14.	Eightfold Real Estate Capital, L.P.
	15.	Five Mile Capital Partners
	16.	Fortress Investment Group, LLC
	17.	Garrison Investment Group
	18.	Goldman, Sachs & Co.
	19.	H/2 Capital Partners LLC
	20.	Hudson Advisors
	21.	Investcorp International
	22.	iStar Financial Inc.
	23.	J.P. Morgan Investment Management Inc.
	24.	JER Partners
	25.	Lend-Lease Real Estate Investments
	26.	Libermax Capital LLC
	27.	LoanCore Capital
	28.	Lone Star Funds
	29.	Lowe Enterprises
	30.	Normandy Real Estate Partners
	31.	One William Street Capital Management, L.P.
	32.	Och-Ziff Capital Management Group/ OZ Management, L.P./ OZ Management II., L.P.
	33.	Praedium Group
	34.	Raith Capital Partners, LLC
	35.	Rialto Capital Management, LLC
	36.	Rialto Capital Partners LLC
	37.	Rimrock Capital Management LLC
	38.	Rockpoint Group
	39.	Rockwood
	40.	RREEF Funds
	41.	Square Mile Capital Management
	42.	Starwood Capital Group/Starwood Financial Trust
	43.	The Blackstone Group
	44.	The Carlyle Group
	45.	Torchlight Investors
	46.	Walton Street Capital, L.L.C.
	47.	Westbrook Partners
	48.	WestRiver Capital
	49.	Wheelock Street Capital
	50.	Whitehall Street Real Estate Fund, L.P.

 

    C-1Exhibit 4.6 

 

EXECUTION VERSION

 

AGREEMENT BETWEEN NOTE HOLDERS 

 

Dated as of July 28, 2016 

 

by and between 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

 (Initial
Note A-1 Holder) 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION 

(Initial
Note A-2 Holder) 

 

and 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION 

(Initial
Note A-3 Holder) 

 

PINNACLE II

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Section 1	Definitions	2
	Section 2	Servicing of the Mortgage Loan	16
	Section 3	Priority of Payments	21
	Section 4	Workout	22
	Section 5	Administration of the Mortgage Loan	22
	Section 6	Rights of the Controlling Note Holder	27
	Section 7	Appointment of Special Servicer	29
	Section 8	Payment Procedure	30
	Section 9	Limitation on Liability of the Note Holders	31
	Section 10	Bankruptcy	32
	Section 11	Representations of the Note Holders	32
	Section 12	No Creation of a Partnership or Exclusive Purchase Right	33
	Section 13	Other Business Activities of the Note Holders	33
	Section 14	Sale of the Notes	33
	Section 15	Registration of the Notes and Each Note Holder	36
	Section 16	Governing Law; Waiver of Jury Trial	36
	Section 17	Submission To Jurisdiction; Waivers	40
	Section 18	Modifications	37
	Section 19	Successors and Assigns; Third Party Beneficiaries	38
	Section 20	Counterparts	38
	Section 21	Captions	38
	Section 22	Severability	38
	Section 23	Entire Agreement	38
	Section 24	Withholding Taxes	38
	Section 25	Custody of Mortgage Loan Documents	39
	Section 26	Cooperation in Securitization	40
	Section 27	Notices	41
	Section 28	Broker	41
	Section 29	Certain Matters Affecting the Agent	41
	Section 30	Reserved	45
	Section 31	Resignation of Agent	41
	Section 32	Resizing	42

 

    -i- 

     

    

 

This AGREEMENT BETWEEN
NOTE HOLDERS (“Agreement”), dated as of July 28, 2016, by and between WELLS FARGO BANK, NATIONAL ASSOCIATION
(“WFB” 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”),
WELLS FARGO BANK, NATIONAL ASSOCIATION (together with its successors and assigns in interest, in its capacity as initial owner
of the Note A-2, the “Initial Note A-2 Holder”) and WELLS FARGO BANK, NATIONAL ASSOCIATION (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 together with the Initial Note A-1 Holder and Initial Note A-2 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), WFB originated a certain loan (the “Mortgage Loan”) described
on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to P2 Hudson MC Partners, LLC (the
“Mortgage Loan Borrower”), which is evidenced, inter alia, by (i) one promissory 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, and (ii) one promissory note in the original principal amount of $20,000,000
(as amended, modified or supplemented, “Note A-2”) made by the Mortgage Loan Borrower in favor of the Initial
Note A-2 Holder and (iii) one promissory note in the original principal amount of $27,000,000 (as amended, modified or supplemented,
“Note A-3” and together with Note A-1 and Note A-2, the “Notes”), made by the Mortgage Loan
Borrower in favor of the Initial Note A-3 Holder, each secured by a first mortgage (as amended, modified or supplemented, the
“Mortgage”) on certain real property located as described on the Mortgage Loan Schedule (the “Mortgaged
Property”); and

 

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

 

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

 

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

 

“Advance Interest”
shall mean the interest accrued on any Servicing Advance which is payable to the party that made that Servicing Advance, in accordance
with 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 initially shall be the office of the Initial Note A-1 Holder listed
on Exhibit B hereto and, after the Securitization Date, shall be the office of the Master Servicer. The Agent Office is the address
to which notices to and correspondence with the Agent should be directed. The Agent may change the address of its designated office
by notice to the Note Holders.

 

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

 

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

 

“Asset Representations Reviewer”
shall mean the Asset Representations Reviewer named in the Lead Securitization Servicing Agreement.

 

“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.

 

“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

 

    	-2- 

     

    

 

otherwise. The terms “Controlled”,
“Controlling” and “Controls” shall have the correlative meanings thereto. 

 

“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” under this Agreement or under the Note A-1 PSA, as
and to the extent provided in the Note A-1 PSA; provided that if at any time 50% or more of Note A-1 (or class of securities
issued under the Note A-1 PSA 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 a Borrower Party, Note A-1 (or the class
of securities issued under the Note A-1 PSA 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 under this Agreement or the Note A-1 PSA, as and to the extent provided in the Note A-1
PSA, and the Note A-2 Holder shall be the Controlling Note Holder unless 50% or more of Note A-2 (or class of securities issued
under the Note A-2 PSA 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 a Borrower Party and the Note A-3 Holder shall be the Controlling
Note Holder unless 50% or more of Note A-3 (or class of securities issued under the Note A-3 PSA 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 a Borrower Party. If 50% or more of each of Note A-1, Note A-2 and Note A-3 (or class of securities issued under the Note A-1
PSA, the Note A-2 PSA and Note A-3 PSA 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 a Borrower Party, no person shall be entitled to
exercise the rights of the Controlling Note Holder under this Agreement or the Note A-1 PSA, as and to the extent provided in
the Note A-1 PSA.

 

“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 the depositor
for the Lead Securitization.

 

“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.

 

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

 

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

 

    	-3- 

     

    

 

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

 

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

 

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

 

“Interested
Person” shall mean the Depositor, any Non-Lead Depositor, the Master Servicer, any Non-Lead Master Servicer, the Special
Servicer, any Non-Lead Special Servicer, any Non-Lead Trustee, any Mortgage Loan Borrower, any manager of any Mortgaged Property,
any independent contractor engaged by the Special Servicer, the Operating Advisor, the Non-Lead Operating Advisor, the Controlling
Note Holder, the Controlling Note Holder Representative, any Non-Controlling Note Holder, any Non-Controlling Note Holder Representative,
the Risk Retention Consultation Party, 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.

 

    	-4- 

     

    

 

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

 

“Lead Securitization”
shall mean the Note A-1 Securitization; provided that, if any other Securitization occurs prior to the Note A-1 Securitization,
then the first such Securitization shall be the Lead Securitization until such time as the Note A-1 Securitization occurs.

 

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

 

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

 

“Lead Securitization Note Holder
Representative” shall mean the “Directing Certificateholder” or equivalent Person under the Lead Securitization
Servicing Agreement.

 

“Lead Securitization
Servicing Agreement” shall mean (i) the pooling and servicing agreement or other comparable agreement related to the
Lead Securitization, and (ii) 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 the Securitization Trust created in connection with the Lead Securitization.

 

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

 

“Monthly Payment Date”
shall mean the Monthly 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.

 

“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 9, 2016, between the Mortgage Loan Borrower, as borrower,
Wells Fargo Bank, National Association, as lender, as the same may be further amended, restated, supplemented or otherwise modified
from time to time, subject to the terms hereof.

 

    	-5- 

     

    

 

“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, guarantying or securing the Mortgage Loan.

 

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

 

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

 

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

 

“Non-Controlling Note” means each
of Note A-2 and Note A-3.

 

“Non-Controlling
Note Holder” means each holder of a Non-Controlling Note; provided that with respect to each Non-Controlling Note, at
any time such Non-Controlling Note is included in a Securitization, references to the “Non-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 “Non-Controlling Note Holder”
under this Agreement or under the related Securitization Servicing Agreement, as and to the extent provided in the related Securitization
Servicing Agreement, and as to the identity of which the Controlling Note Holder (and, if applicable, the Master Servicer and
the Special Servicer) has been given written notice; provided, further that if at any time 50% or more of any Non-Controlling
Note (or class of securities issued in a Securitization into which such Non-Controlling Note has been deposited is designated
as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of the “controlling
class” under the related Securitization Servicing Agreement) is held by a Borrower Party, no such Note Holder or other Person
shall be entitled to exercise any rights of such Non-Controlling Note Holder under this Agreement or the related Securitization
Servicing Agreement, as and to the extent provided in the related Securitization Servicing Agreement. The Controlling Note Holder
and the Lead Securitization Note Holder (or, if applicable, the Master Servicer or the Special Servicer acting on its behalf)
shall not be required at any time to deal with more than one party exercising the rights of a “Non-Controlling Note Holder”
herein or under the Lead Securitization Servicing Agreement and, (x) to the extent that the related Securitization Servicing Agreement
assigns such rights to more than one party or (y) to the extent the related Non-Controlling Note is split into two or more New
Notes pursuant to Section 32, for purposes of this Agreement, such Securitization Servicing Agreement or the holders of such New
Notes shall designate one party to deal with the Controlling Note Holder and the Lead Securitization Note Holder (or, the Master
Servicer or the Special Servicer acting on its behalf) and provide written notice of such designation to the Controlling Note
Holder and the Lead Securitization Note Holder (or, the Master Servicer and the Special Servicer acting on

 

    	-6- 

     

    

 

its behalf); provided
that, in the absence of such designation and notice, the Controlling Note Holder and the Lead Securitization Note Holder
(or, the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as to which
it has received written notice as having been designated as the Non-Controlling Note Holder with respect to such
Non-Controlling Note for all purposes of this Agreement. As of the date hereof and until further notice from the
Non-Controlling Note Holder (or, if applicable, the related Non-Lead Master Servicer or another party acting on its behalf),
the Initial Note A-2 Holder is the Non-Controlling Note Holder with respect to Note A-2 and the Initial Note A-3 Holder is
the Non-Controlling Note Holder with respect to Note A-3.

 

“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” (or similarly named Person that
is the “asset representations reviewer” as defined in Item 1101(m) of Regulation AB.) under any Non-Lead Securitization
Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

“Non-Lead Securitization
Note Holder” shall mean each holder of a Non-Lead Securitization Note; provided that with respect to each Non-Lead
Securitization Note, at any time such Non-Lead Securitization Note is included in a Securitization, references to the “Non-Lead
Securitization 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 “Non-Lead Securitization

 

    	-7- 

     

    

 

Note Holder” under this Agreement
or under the related Non-Lead Securitization Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization
Servicing Agreement, and as to the identity of which the Lead Securitization Note Holder (and, if applicable, the Master Servicer
and the Special Servicer) has been given written notice; provided, further that if at any time 50% or more of any Non-Lead Securitization
Note (or class of securities issued in a Securitization into which such Non-Lead Securitization Note has been deposited is designated
as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights of the “controlling
class” under the related Non-Lead Securitization Servicing Agreement) is held by a Borrower Party, no such Note Holder or
other Person shall be entitled to exercise any rights of such Non-Lead Securitization Note Holder under this Agreement or the
related Non-Lead Securitization Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization Servicing
Agreement. 

 

“Non-Lead Securitization Note Holder
Representative” shall mean the “Directing Certificateholder” or equivalent Person under the Non-Lead Securitization
Servicing Agreement

 

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

 

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

 

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

 

“Non-Securitizing
Note Holder” shall mean, with respect to a Securitization, each Note Holder other than a Securitizing Note Holder with
respect to such Securitization.

 

“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 (or any New Notes issued in substitution
thereof) received by the Note A-1 Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant
to Section 3 or 4, as applicable.

 

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

 

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

 

    	-8- 

     

    

 

“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 Master Servicer”
shall mean the master servicer under the Note A-2 PSA.

 

“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 (or any New Notes issued in substitution
thereof) received by the Note A-2 Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant
to Section 3 or 4, as applicable.

 

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

 

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

 

“Note A-2 Securitization Date”
shall mean the closing date of the Note A-2 Securitization.

 

“Note A-2 Special Servicer”
shall mean the special servicer under the Note A-2 PSA.

 

“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 Master Servicer”
shall mean the master servicer under the Note A-3 PSA.

 

“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

 

    	-9- 

     

    

 

Schedule, less any payments of principal
thereon (or any New Notes issued in substitution thereof) received by the Note A-3 Holder (or any holders of New Notes in substitution
thereof) or reductions in such amount pursuant to Section 3 or 4, as applicable. 

 

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

 

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

 

“Note A-3 Securitization Date”
shall mean the closing date of the Note A-3 Securitization.

 

“Note A-3 Special Servicer”
shall mean the special servicer under the Note A-3 PSA.

 

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

 

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

 

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

 

“Note Principal
Balance” shall mean, (i) with respect to Note A-1, the Note A-1 Principal Balance, (ii) with respect to Note A-2, the
Note A-2 Principal Balance and (iii) with respect to Note A-3, the Note A-3 Principal Balance.

 

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

 

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

 

“Operating Advisor” shall
mean the trust advisor, senior trust advisor, operating advisor or other analogous term as defined under 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, with respect to each Note Holder, a fraction, expressed as a percentage, the numerator of which
is the Note Principal Balance of the Note held by such Note Holder and the denominator of which is the sum of the Note Principal
Balances of all of the Notes.

 

“Permitted
Fund Manager” shall mean any Person that on the date of determination is (i) one of the entities on Exhibit C
attached hereto and made a part hereof or any other nationally-recognized manager of investment funds investing in debt or equity
interests

 

    	-10- 

     

    

 

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 by any of the Initial Note Holders, or

 

(b)
          one or more of the following: 

 

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

 

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

 

(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 that 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
subject to Rating Agency Confirmations from the Rating Agencies rating each Securitization (such entity, an “Approved
Servicer”) and such Approved Servicer is required to service and administer such Note or any interest therein in accordance
with servicing arrangements for the assets held

 

    	-11- 

     

    

 

by the Securitization Vehicle which require that such Approved Servicer act in accordance with
a servicing standard notwithstanding any contrary direction or instruction from any other Person; or (3) in the case of a Securitization
Vehicle that is a CDO, the CDO Asset Manager and, if applicable, each Intervening Trust Vehicle that is not administered and managed
by a CDO Asset Manager which is a Qualified Institutional Lender, are each a Qualified Institutional Lender under clauses (i),
(ii), (iv) or (v) of this definition, or 

 

  (iv)
        an investment fund, limited liability company, limited partnership or general partnership having capital and/or capital
commitments of at least $250,000,000, in which (A) any Initial Note Holder, (B) a person that is otherwise a Qualified Institutional
Lender under clause (i), (ii) or (v) (with respect to an institution substantially similar to the entities referred to in clause
(i) or (ii) above), or (C) a Permitted Fund Manager, acts as a general partner, managing member, or the fund manager responsible
for the day-to-day management and operation of such investment vehicle and provided that at least 50% of the equity interests
in such investment vehicle are owned, directly or indirectly, by one or more entities that are otherwise Qualified Institutional
Lenders (without regard to the capital surplus/equity and total asset requirements set forth below in the definition), or 

 

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

 

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

 

(c)
          any entity Controlled by any of the entities described in clause (b)(i), (ii), (iv)(B) or (v) above or subject to a
Rating Agency Confirmation as a Qualified Institutional Lender for purposes of this Agreement from each of the Rating Agencies
engaged to rate the securities for any Securitization. 

 

“Qualified
Trustee” shall mean (i) a corporation, national bank, national banking association or a trust company, organized and
doing business under the laws of any state or the United States of America, authorized under such laws to exercise corporate trust
powers and to accept the trust conferred, having a combined capital and surplus of at least $50,000,000 and subject to supervision
or examination by federal or state authority or (ii) an institution whose long-term senior unsecured debt is rated in either of
the then in effect top three rating categories of each of the applicable Rating Agencies (or, if not rated by an applicable Rating
Agency, an equivalent (or higher) rating from any two of Fitch, Moody’s and S&P).

 

    	-12- 

     

    

  

“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 engaged 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 one or more of the Notes is an asset of one
or more Securitizations, “Rating Agencies” or “Rating Agency” shall mean only those rating
agencies that are engaged from time to time to rate the securities issued in connection with the Securitizations of the related
Notes.

 

“Rating Agency
Confirmation” shall mean, with respect to any Securitization, a confirmation in writing (which may be in electronic
form) by each of the applicable Rating Agencies for such Securitization that 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 class of securities of such Securitization (if then rated by such Rating Agency); provided that a written waiver
or other acknowledgment from any such 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 such Rating Agency with
respect to such matter. If no such securities are outstanding with respect to any Securitization, any action that would otherwise
require a Rating Agency Confirmation shall instead require the consent of the Note A-1 Holder, which consent shall not be unreasonably
withheld, conditioned or delayed.

 

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

 

“Regulation
AB” shall mean Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§229.1100 229.1125,
as such rules may be amended from time to time, and subject to such clarification and interpretation as have been provided by
the Securities Exchange Commission or by its staff, or as may be provided by the Securities Exchange Commission 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, such special servicer has acted as special
servicer in one or more other commercial mortgage-backed securitizations within the prior twelve (12) months, and Morningstar
has not, with respect to any such other transactions, qualified, downgraded or withdrawn its rating or ratings on one or more
classes of securities issued in such securitizations, and (v) in the case of DBRS or KBRA, DBRS or KBRA, as applicable, has not
cited servicing concerns of such special servicer as the sole or

 

    	-13- 

     

    

 

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. 

 

“Risk Retention Consultation Party”
shall mean the party, if any, under the Lead Securitization Servicing Agreement that is the “Risk Retention Consultation
Party”.

 

“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 or the Note A-3 Securitization.

 

“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.

 

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

 

“Securitizing
Note Holder” shall mean, with respect to a Securitization, each Note Holder that is contributing its Note to such Securitization.

 

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

 

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

 

“Servicing
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.

 

    	-14- 

     

    

 

“Special Servicer”
shall mean the special servicer appointed to act in such capacity with respect to the Mortgage Loan 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.

 

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

 

“Trust Fund” shall mean
the trust formed pursuant to the Lead Securitization Servicing Agreement.

 

“Trustee” shall mean the
trustee appointed as provided in the Lead Securitization Servicing Agreement.

 

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

 

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

 

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 Securitization Date by the Master Servicer and
the Special Servicer pursuant to the terms of this Agreement and the Lead Securitization Servicing Agreement; provided
that the Master Servicer shall not be obligated to advance monthly payments of principal or interest in respect of any Note other
than the Lead Securitization Note if such principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated
to make Servicing Advances, subject to the terms of the Lead Securitization Servicing Agreement. The Lead Securitization Servicing
Agreement shall contain terms and conditions that are customary for securitization transactions involving assets similar to the
Mortgage Loan and that are otherwise (i) required by the Code relating to the tax elections of any Securitization Trust, (ii)
required by law or changes in any law, rule or regulation or (iii) generally required by the Rating Agencies in connection with
the issuance of ratings in securitizations similar to the Securitizations. Each Securitization Servicing Agreement shall also
satisfy Moody’s rating methodology for eligible accounts and permitted investments for a “Aaa”-rated securitization.
Each Note Holder acknowledges that each 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 hereof, reasonably cooperate with such other Note Holder, at

 

    	-15- 

     

    

 

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 against any other 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, and is subject in all respect to Section 6.04 of the Lead Securitization Servicing
Agreement. Each Servicer shall be required pursuant to the Lead Securitization Servicing Agreement to service the Mortgage Loan
in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement
and applicable law, and shall not take any action or refrain from taking any action or follow any direction inconsistent with
the foregoing. 

 

At any time that the
Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note Holders agree to
cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note Holders, pursuant
to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all
references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing agreement;
provided, that if a Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been
obtained from each other Rating Agency with respect to any such Non-Lead Securitization Note regarding any servicer(s) to be appointed
under such replacement servicing agreement that would not otherwise meet the conditions to be a servicer under the Lead Securitization
Servicing Agreement that is being replaced; provided, further, that until a replacement servicing agreement has
been entered into, the Lead Securitization Note Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions
of the Lead Securitization Servicing Agreement, 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 servicer
meeting the requirements of a master servicer under 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
or the Special Servicer, to the extent provided in the Lead Securitization Servicing Agreement) shall make the following advances,
subject to the terms of the Lead Securitization Servicing Agreement and this Agreement: (i) Servicing Advances on the Mortgage
Loan and (ii) P&I Advances on the Lead Securitization Note. The Master Servicer, the Special Servicer and the Trustee, as
applicable, shall be entitled to

 

    	-16- 

     

    

 

reimbursement
for a Servicing Advance, first from funds on deposit in the Collection Account and/or the Companion Distribution 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 Advances, if such funds on deposit in the Collection Account or Companion Distribution Account are
insufficient, from general collections of the Lead Securitization as provided in the Lead Securitization Servicing Agreement.
The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to reimbursement for Advance Interest
on a Servicing Advance (including any Nonrecoverable Advance), in the manner and from the sources provided in the Lead Securitization
Servicing Agreement, including from general collections of the Lead Securitization. Notwithstanding the foregoing, to the extent
the Master Servicer, the Special Servicer or the Trustee, as applicable, obtains funds from general collections of the Lead Securitization
as a reimbursement for a Nonrecoverable Advance or any Advance Interest on a Servicing Advance (including any Nonrecoverable Advance),
each Non-Lead Securitization Note Holder (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 Advance or Advance Interest.

 

In addition,
each Non-Lead Securitization Note Holder (including, but not limited to, 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 such Non-Lead Securitization Note Holder’s pro rata share of any fees,
costs or expenses incurred in connection with the servicing and administration of the Mortgage Loan as to which the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor, the Asset Representations
Reviewer 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 Companion Distribution Account are insufficient for reimbursement of such
amounts. Each Non-Lead Securitization Note Holder shall 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 Master Servicer, the Special Servicer, the
Certificate Administrator, the Trustee, the Operating Advisor, Asset Representations Reviewer and the Depositor (and any
director, officer, employee or agent of any of the foregoing, to the extent such parties are identified as indemnified
parties in the 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 and the Asset Representations Reviewer, incurred in connection with the provision
of services for the Mortgage Loan) under the Lead Securitization Servicing Agreement (collectively, the
“Indemnified Items”) to the extent of its pro rata share of such Indemnified Items, and to the
extent amounts on deposit in the Companion Distribution Account or Collection Account, as applicable, are insufficient for
reimbursement of such amounts, each 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

  

    	-17- 

     

    

 

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 a related Non-Lead Securitization Servicing Agreement. 

 

Any Non-Lead Master
Servicer (or if not made by such Non-Lead Master Servicer, the Non-Lead Trustee) 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 related servicing agreement for the related
Securitization (each such agreement, a “Non-Lead Securitization Servicing Agreement”), the Lead Securitization
Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall each be
entitled to make its own recoverability determination with respect to a P&I Advance to be made on the Lead Securitization
Note based on the information that it has on hand and in accordance with the Lead Securitization Servicing Agreement. Each Non-Lead
Master Servicer, Non-Lead Special Servicer and Non-Lead Trustee under the related Non-Lead Securitization Servicing Agreement,
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 Non-Lead Securitization
Servicing Agreement. The Master Servicer and the Trustee, as applicable, and the related Non-Lead Master Servicer or the related
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 a 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 the related Non-Lead Master Servicer or
the related Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of a determination
of non-recoverability by the related Non-Lead Master Servicer, the related Non-Lead Special Servicer or the related Non-Lead Trustee)
shall notify the Master Servicer and the Trustee, or the Non-Lead Master Servicer and the Non-Lead Trustee, as the case may be,
of the other Securitization within one Business Day of making such determination. Each of the Master Servicer, the Trustee, a
Non-Lead Master Servicer and a Non-Lead Trustee, as applicable, will only be entitled to reimbursement for a P&I Advance that
becomes non-recoverable first from the Companion Distribution 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 agrees that, if the related Non-Lead Securitization Note is included in a
Securitization, it shall cause the applicable Non-Lead Securitization Servicing Agreement to contain provisions to the effect
that:

  

    	-18- 

     

    

 

(i)
          such Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Nonrecoverable Advances
(and Advance Interest thereon) and any additional expenses of the Trust Fund, but only to the extent that such expenses 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 expenses of the Trust Fund, (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 or the Trustee, as applicable, out of general collections in the collection account (or equivalent
account) established under the Non-Lead Securitization Servicing Agreement for such Non-Lead Securitization Note Holder’s
pro rata share of any such Nonrecoverable Advances and/or additional expenses of the Trust Fund, and (ii) if the Lead Securitization
Servicing Agreement permits the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee to reimburse
itself from the Lead Securitization Trust’s general collections, then the Master Servicer, the Special Servicer, the Certificate
Administrator or the Trustee, as applicable, may do so and the related Non-Lead Master Servicer will be required to, promptly
following notice from the Master Servicer, reimburse the Lead Securitization Trust out of general collections in the collection
account (or equivalent account) established under the related Non-Lead Securitization Servicing Agreement for such Non-Lead Securitization
Note Holder’s pro rata share of any such Nonrecoverable Advances and/or additional expenses of the Trust Fund; 

 

(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 each Securitization Trust holding a 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 Companion Distribution Account are insufficient for reimbursement of such amounts, the related
Non-Lead Master Servicer will be required to reimburse each of the applicable Indemnified Parties for its pro rata
share of the insufficiency out of general collections in the collection account (or equivalent account) established under the
related 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, related Non-Lead Trustee or certificate administrator under the related Non-Lead
Securitization Servicing Agreement will be required to deliver to the Trustee, the Certificate Administrator, the Special Servicer,
the Master Servicer and the Operating Advisor (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, the related certificate

 

    	-19- 

     

    

 

administrator, the related Non-Lead Master Servicer, the related Non-Lead
Special Servicer and the party designated to exercise the rights of the related “Non-Controlling Note Holder” and
“Non-Lead Securitization Note Holder” under this Agreement), accompanied by a certified copy of the related executed
Non-Lead Securitization Servicing Agreement and (ii) notice of any subsequent change in the identity of the related Non-Lead Master
Servicer or the party designated to exercise the rights of the related “Non-Controlling Note Holder” or “Non-Lead
Securitization Note Holder” 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. 

 

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

 

(e)
          The Note A-1 PSA shall contain (x) provisions requiring the Master Servicer and the Special Servicer to maintain, or
subjecting them to possible termination for not maintaining, compliance with customary servicer rating criteria (but the rating
agencies need not be the same) and (y) provisions substantially similar, but not necessarily identical, to those set forth in
the Lead Securitization Servicing Agreement prior to the Note A-1 Securitization Date with respect to (i) periodic reporting and
periodic delivery of service provider compliance documents under Regulation AB (and, in any event, the Note A-1 PSA shall require
such reporting and delivery so long as any Securitization is required to file periodic reports under the Securities Exchange Act
of 1934, as amended), (ii) servicing transfer events that would result in the transfer of the Mortgage Loan to special servicing
status, (iii) the authority of the Master Servicer and Special Servicer to grant or agree or consent to material modifications,
waivers and amendments to the Mortgage Loan, or to approve material assignments and assumptions or material additional indebtedness
in connection with the Mortgage Loan, (iv) the potential

 

    	-20- 

     

    

 

termination of the
Master Servicer and Special Servicer following a Servicer Termination Event, and the right of the Non-Controlling Note Holder
to terminate the Special Servicer or cause the appointment of a sub-servicer with respect to the Master Servicer upon a
Servicer Termination Event that affects a Non-Controlling Note Holder, (v) requirements to obtain an appraisal or appraisal
update following a transfer of the Mortgage Loan to special servicing status and periodic updates thereof, (vi) duties of the
Special Servicer in respect of foreclosure and the management of REO property, (vii) subject to various adjustments and caps
provided for in the Note A-1 PSA, that are substantially similar to those set forth in the predecessor Lead Securitization
Servicing Agreement, special servicing, workout and liquidation fees (and, in any event, the fees at which such compensation
accrue or are determined shall not exceed 0.25%, 1.00% and 1.00%, respectively), (viii) control, consultation and other
rights of the directing certificateholder and operating advisor and any other material servicing and administrative
provisions and (ix) indemnification of each Non-Lead Depositor, each Non-Lead Master Servicer, each Non-Lead Special
Servicer, the certificate administrator under each Non-Lead Securitization Servicing Agreement, each Non-Lead Trustee, each
Non-Lead Asset Representations Reviewer and each Non-Lead Operating Advisor (and any director, officer, employee or agent of
any of the foregoing, to the extent such parties are identified as indemnified parties in the Non-Lead Securitization
Servicing Agreements in respect of other mortgage loans), against any claims, losses, penalties, fines, forfeitures, legal
fees and related costs, judgments and any other costs, liabilities, fees and expenses incurred in connection with
servicing and administration of the Mortgage Loan (or, with respect to the Non-Lead Operating Advisor and Non-Lead Asset
Representations Reviewer, incurred in connection with the provision of services for the Mortgage Loan) to the same extent
that the related Non-Lead Securitization Servicing Agreement indemnifies the Indemnified Parties against the Indemnified
Items; provided, that (A) this statement shall not be construed to prohibit differences in timing, control or
consultation triggers or thresholds, terminology, allocation of ministerial duties between multiple servicers or other
servicer providers or certificateholder or investor voting or consent thresholds, or to prohibit or restrict additional
approval, consent, consultation, notice or rating agency confirmation requirements; and (B) if there is any conflict between
this sentence and any other provision of this Agreement, such other provision of this Agreement shall control.

 

(f)
          The Lead Securitization Note Holder agrees that, if a Non-Lead Securitization Note is included in a Securitization,
and such Non-Lead Securitization is subject to reporting requirements under Regulation AB, the Master Servicer, the Special Servicer,
the Trustee and the Custodian shall be required to reasonably cooperate with the Non-Lead Asset Representations Reviewer in connection
with such Non-Lead Asset Representations Reviewer’s obligations under any Non-Lead Securitization Servicing Agreement with
respect to the Mortgage Loan by providing any documents reasonably requested by the Non-Lead Asset Representations Reviewer or
other requesting party in connection with the Non-Lead Asset Representations Reviewer’s obligations, but only to the extent
such documents are in the possession of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may
be, but in any event excluding any documents known to such the Master Servicer, the Special Servicer, the Trustee or the Custodian
to contain information that is proprietary to the related originator or Initial Note Holders or any draft documents or privileged
or internal communications. The reasonable out-of-pocket expenses of the Master Servicer, Special Servicer, the Trustee and the
Custodian actually incurred in connection with their compliance

 

    	-21- 

     

    

 

with such requests shall be reimbursable by the Non-Lead Asset
Representations Reviewer or, if not paid by the Non-Lead Asset Representations Reviewer, the Non-Lead Securitization Note Holder.

 

(g)
          If Note A-1 is not the first Note to be deposited into the Lead Securitization, the Note A-1 Holder shall give each
of the parties to the Lead Securitization (that will not also be a party to the Note A-1 PSA) and the Non-Controlling Note Holder
Representative under the Lead Securitization Servicing Agreement notice of the Note A-1 Securitization in writing (which may be
by e-mail) not less than 5 business days’ prior to the Note A-1 Securitization Date. Such notice shall contain contact information
for each of the parties to the Note A-1 PSA. In addition, after the Note A-1 Securitization Date, the Note A-1 Holder shall send
a copy of the Note A-1 PSA to each of the parties to the Note A-2 PSA and Note A-3 PSA, as applicable. 

 

Section 3.
          Priority of Payments.

 

(a)
          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 Periodic Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter
of credit or other collateral or instrument securing the Mortgage Loan or Insurance and Condemnation Proceeds (other than proceeds,
awards or settlements 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) shall be applied by the Lead Securitization Note Holder (or its designee)
to the Notes on a Pro Rata and Pari Passu Basis; provided, that (x) all amounts for required reserves or escrows required by the
Mortgage Loan Documents to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of
property protection expenses or Servicing Advances then due and payable or reimbursable to the Trustee or any Servicer under the
Lead Securitization Servicing Agreement shall be applied to the extent set forth in, and in accordance with the terms of, the
Mortgage Loan Documents; and (y) all amounts that are then due, payable or reimbursable to any Servicer, with respect to the Mortgage
Loan pursuant to the Lead Securitization Servicing Agreement and any other compensation payable to it thereunder (including without
limitation, any additional expenses of the Trust Fund 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 and Penalty
Charges (to the extent provided in the immediately following paragraph) but excluding (i) any P&I Advances (and interest thereon)
on the Lead Securitization Note, which shall be reimbursed in accordance with Section 2(b) hereof, and (ii) any Master Servicing
Fees due to the Master Servicer in excess of the Non-Lead Securitization Note’s pro rata share of that portion of such servicing
fees calculated at the “primary servicing fee rate” applicable to the Mortgage Loan as set forth in the Lead Securitization
Servicing Agreement, which such excess shall not be subject to the allocation provisions of this Section 3) shall be payable in
accordance with the Lead Securitization Servicing Agreement.

 

    	-22- 

     

    

 

For clarification
purposes, Penalty Charges paid on each Note shall first, be used to reduce, on a pro rata basis, the amounts payable
on each Note by the amount necessary to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrue d
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, the Non-Lead Master Servicer or the Non-Lead Trustee for any interest accrued on any P&I
Advance made with respect to such Note by such party (if and as specified in the Lead Securitization Servicing Agreement or the
Non-Lead Securitization Servicing Agreement, as applicable), third, be used to reduce, on a pro rata basis, the
amounts payable on each Note by the amount necessary to pay additional expenses of the Trust Fund (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, in the case of the remaining amount of Penalty Charges shall be paid to the Master Servicer
and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement.

 

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

 

Section 5.           Administration of the
Mortgage Loan.

 

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

 

    	-23- 

     

    

  

Holder) the rights, if any, that
such Note Holder has to, (i) call or cause the Lead Securitization Note Holder to call an Event of Default under the Mortgage
Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation,
filing or causing the Lead Securitization Note Holder to file any bankruptcy petition against the Mortgage Loan Borrower. The
Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization
Note Holder) shall not have any fiduciary duty to 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 Loan to sell the Notes together as notes
evidencing one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement and shall require that all
offers be submitted to the Special Servicer in writing. Whether any cash offer constitutes a fair price for the Mortgage Loan
shall be determined by the Special Servicer, if the highest offeror is a Person other than an Interested Person, and by the Trustee,
if the highest offeror is an Interested Person. Absent an offer at least equal to the Purchase Price, no offer from an Interested
Person shall constitute a fair price unless (i) it is the highest offer received and (ii) at least two other offers are received
from independent third parties. In determining whether any offer from an Interested Person received represents a fair price for
the Mortgage Loan, the Trustee shall rely on the most recent Appraisal (or update of such Appraisal) conducted in accordance with
the Lead Securitization Servicing Agreement within the preceding nine (9)-month period or, in the absence of any such Appraisal,
on a new Appraisal. In determining whether any such offer from a Person other than an Interested Person constitutes a fair price
for the Mortgage Loan, the Special Servicer shall take into account (in addition to the results of any Appraisal or updated Appraisal
or narrative appraisal that it may have obtained within the prior nine (9) months pursuant to the Lead Securitization Servicing
Agreement) among other factors, the period and amount of the occupancy level and physical condition of the Mortgaged Property
and the state of the local economy. In determining whether any offer received from an Interested Person represents a fair price
for any such Defaulted Loan, the Trustee shall rely on the most recent Appraisal (or update of such Appraisal) of the related
Mortgaged Property conducted in accordance with this Agreement within the preceding nine (9) month period or, in the absence of
any such Appraisal, on a new Appraisal. Except as provided in the following paragraph, the cost of any Appraisal will be covered
by, and will be reimbursable as, a Servicing Advance by the Master Servicer. 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 (provided that such consent is not
required if the related Non-Lead Securitization Note is held by a Borrower Party) unless the Special Servicer has delivered to
such Non-Lead Securitization Note Holder: (a) at least 15 Business Days prior written notice of any decision to attempt to sell
the Mortgage Loan; (b) at least 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

 

    	-24- 

     

    

 

date, a copy
of the most recent appraisal for the Mortgage Loan, and any documents in the servicing file reasonably requested by such Non-Lead
Securitization Note Holder that are material to the sale price of the Mortgage Loan and (d) until the sale is completed, and a
reasonable period of time (but no less time than is afforded to other offerors and the Lead Securitization Note Holder Representative)
prior to the proposed sale date, all information and other documents being provided to other offerors and all leases or other
documents that are approved by the Master Servicer or the Special Servicer in connection with the proposed sale; provided, however, that such Non-Lead Securitization Note Holder may waive any delivery or timing requirements set forth in this sentence
only for itself. Subject to the foregoing, each of the Controlling Note Holder, the Controlling Note Holder Representative, the
Non-Controlling Note Holders and the Non-Controlling Note Holder Representatives shall be permitted to submit an offer at any
sale of the Mortgage Loan (unless such Person is a Borrower Party).

 

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

 

Each Non-Lead
Securitization Note Holder hereby appoints the Lead Securitization Note Holder as its agent, and grants to the Lead Securitization
Note Holder an irrevocable power of attorney coupled with an interest, and its proxy, for the purpose of soliciting and accepting
offers for and consummating the sale of the related Non-Lead Securitization Note. Each Non-Lead Securitization Note Holder further
agrees that, upon the request of the Lead Securitization Note Holder, such Non-Lead Securitization 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 the original related Non-Lead Securitization Note, endorsed in blank, to or at the direction of the
Lead Securitization Note Holder in connection with the consummation of any such sale.

 

The authority
of the Lead Securitization Note Holder to sell the Non-Lead Securitization Notes, and the obligations of the Non-Lead Securitization
Note Holders to execute and deliver instruments or deliver the Non-Lead Securitization Notes upon request of the Lead Securitization
Note Holder, shall terminate and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization
Note is repurchased by the Initial Note Holder from the trust fund established under the Lead Securitization Servicing Agreement
in connection with a material breach of representation or warranty made by such Initial Note Holder with respect to the Lead Securitization
Note or material document defect with respect to the documents delivered by the related Initial Note Holder with respect to the

 

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Lead Securitization Note upon the
consummation of the Lead Securitization. The preceding sentence shall not be construed to grant to a Non-Lead Securitization Note
Holder the benefit of any representation or warranty made by such Initial Note Holder or any document delivery obligation imposed
on such Initial Note Holder under any mortgage loan purchase and sale agreement, instrument of transfer or other document or instrument
that may be executed or delivered by such Initial Note Holder 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 materially and adversely affect the Non-Lead Securitization
Note Holder in its capacity as the Non-Lead Securitization Note Holder without the Non-Lead Securitization Note Holder’s
prior written consent. The Non-Lead Securitization Note Holder (unless it is a Borrower Party) shall be a third-party beneficiary
to the Lead Securitization Servicing Agreement with respect to its rights as specifically provided for therein.

 

(c)
          Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer
acting on its behalf) shall be required (i) to provide copies of any notice, information and report that it is required to provide
to the Lead Securitization Note Holder Representative pursuant to the Lead Securitization Servicing Agreement (for this purpose,
without regard to whether such items are actually required to be provided to the Lead Securitization Note Holder Representative
under the Lead Securitization Servicing Agreement due to the occurrence of a Control Termination Event or a Consultation Termination
Event or effectively equivalent period) with respect to any Major Decision or the implementation of any recommended actions outlined
in an Asset Status
Report relating to the Mortgage Loan, to a Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative),
within the same time frame it is required to provide to the Lead Securitization Note Holder Representative (for this purpose,
without regard to whether such items are actually required to be provided to the Lead Securitization Note Holder Representative
under the Lead Securitization Servicing Agreement due to the occurrence of a Control Termination Event or a Consultation Termination
Event or effectively equivalent period) and (ii) to consult with each Non-Lead Securitization Note Holder (or its Non-Lead Securitization
Note Holder Representative) on a strictly non-binding basis, to the extent having received such notices, information and reports,
such Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative) requests consultation with
respect to any such Major Decision or the implementation of any recommended actions outlined in an

 

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

 

In addition to
the consultation rights of each Non-Lead Securitization Note Holder (or its Non-Lead Securitization Note Holder Representative)
provided in the immediately preceding paragraph, each Non-Lead Securitization Note Holder shall have the right to attend (in person
or telephonically, in the discretion of the Master Servicer or Special Servicer, as applicable) annual meetings 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 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

 

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

 

Section 6.
          Rights of the Controlling Note Holder and Non-Controlling Noteholders.

 

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

 

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of the Servicers,
Certificate Administrator and Trustee shall be required to recognize any person as a Controlling Note Holder Representative until
they receive such information from the Controlling Note Holder. The Controlling Note Holder agrees to inform each such Servicer
or Trustee of the then-current Controlling Note Holder Representative.

 

Neither
the Controlling Note Holder Representative nor the Controlling Note Holder, in such capacity, will have any liability to the other
Note Holders or any other Person for any action taken, or for refraining from the taking of any action or the giving of any consent
or the failure to give any consent pursuant to this Agreement or the Lead Securitization Servicing Agreement, or errors in judgment,
absent any loss, liability or expense incurred by reason of its willful misfeasance, bad faith or gross negligence. The Note Holders
agree that the Controlling Note Holder Representative and the Controlling Note Holder (whether acting in place of the Controlling
Note Holder Representative when no Controlling Note Holder Representative shall have been appointed hereunder or otherwise exercising
any right, power or privilege granted to the Controlling Note Holder hereunder) may take or refrain from taking actions, or give
or refrain from giving consents, that favor the interests of one Note Holder over the other Note Holder, and that the Controlling
Note Holder Representative or Controlling Note Holder may have special relationships and interests that conflict with the interests
of other Note Holders 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, acting in such capacity, agree to take no action against the
Controlling Note Holder Representative, the Controlling Note Holder or any of their respective officers, directors, employees,
principals or agents as a result of such special relationships or interests, and that neither the Controlling Note Holder Representative
nor the Controlling Note Holder will be deemed to have been grossly negligent or reckless, or to have acted in bad faith or engaged
in willful misfeasance or to have recklessly disregarded any exercise of its rights 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 (other than a Borrower Party) in connection
with the exercise of its rights and obligations with respect to the Mortgage Loan (with respect to such Note Holder, the “Non-Controlling
Note Holder Representative”). All of the provisions relating to the Controlling Note Holder and the Controlling Note
Holder Representative set forth in Section 6(a) shall apply to each Non-Controlling Note Holder and its Non-Controlling Note Holder
Representative mutatis mutandis.

 

Each Non-Controlling
Note Holder shall provide notice of its identity and contact information (including any change thereof) to the Trustee, Certificate
Administrator, the Master Servicer and the Special Servicer under the Lead Securitization Servicing Agreement; provided,
that each Initial Note Holder shall be deemed to have provided such notice on the date hereof. The Trustee, Certificate Administrator,
the Master Servicer and the Special Servicer under the Lead Securitization Servicing Agreement shall be entitled to conclusively
rely on such identity and contact information received by it and shall not be liable in respect of any deliveries hereunder sent
in reliance thereon. The Non-Controlling Note Holder Representatives with respect to the Non-Controlling Notes, as of the date
of this Agreement and until the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) is notified

 

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otherwise, shall be, with respect to Note A-2, the Initial Note A-2 Holder and, with respect to Note A-3, the Initial Note A-3
Holder.

 

(c)            The
Controlling Note Holder shall be entitled to exercise (x) the rights and powers granted to the Controlling Note Holder hereunder
and (y) the rights and powers granted to the Lead Securitization Note Holder Representative 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 the Mortgage Loan if it is a “Specially Serviced 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 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 in connection with an Acceptable Insurance Default, thirty (30) days) after
receipt of the written recommendation and analysis and such additional information requested by the Controlling Note Holder, and
reasonably available to the Special Servicer, as may be necessary 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.

 

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,
consent, direction or advice contemplated by the preceding paragraphs may require or cause the Master Servicer or the Special
Servicer, as applicable, to violate any provision of the Mortgage Loan Documents, applicable law, the Lead Securitization Servicing
Agreement, this Agreement, the REMIC provisions of the Code or the Master Servicer or Special Servicer’s obligation to act
in accordance with the Servicing Standard or materially expand the scope of responsibilities of any of the Master Servicer or
Special Servicer, as applicable.

 

Section 7.
           Appointment of Special Servicer. Subject to the conditions
and requirements set forth in the Lead Securitization Servicing Agreement, the Controlling Note Holder 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 the other Note Holder, the
Master Servicer, the then existing Special Servicer

 

    	-30- 

     

    

 

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, but only if required by the terms of the Lead
Securitization Servicing Agreement), and delivering to each Non-Controlling Note Holder a Rating Agency Confirmation with respect
to any rated securities issued and outstanding under the related Securitization, if applicable. 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 Non-Controlling Note Holders 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 a 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. The Note Holders 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 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. The Non-Controlling Note
Holder that directs 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 shall be solely responsible for reimbursing the Trustee’s or the Controlling
Note Holder’s, as applicable, costs and expenses, if not paid within a reasonable time by the terminated special servicer
and, in the case of the Trustee, that would otherwise be reimbursed to the Trustee from amounts on deposit in the Collection Account
under the Lead Securitization Servicing Agreement.

 

Section 8.
          Payment Procedure.

 

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

 

(b)
          If the Lead Securitization Note Holder determines, or a court of competent jurisdiction orders, at any time that any
amount received or collected in respect of

 

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any Note must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference
or similar law, be returned to the Mortgage Loan Borrower or paid to the Lead Securitization Note Holder, a Non-Lead Securitization
Note Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, the Lead
Securitization Note Holder shall not be required to distribute any portion thereof to the Non-Lead Securitization Note Holders
and each Non-Lead Securitization Note Holder shall promptly on demand by the Lead Securitization Note Holder repay to the Lead
Securitization Note Holder any portion thereof that the Lead Securitization Note Holder shall have theretofore distributed to
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 a 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 share thereof, it shall promptly remit such excess to the applicable Note Holder, subject to this
Agreement and the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder shall have the right to offset
any amounts due hereunder from a Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments
due to such Non-Lead Securitization Note Holder under the Mortgage Loan. A 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 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 any 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 such 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.

 

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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 any Non-Lead Securitization Note Holder, can make any election, give any consent, commence
any action or file any motion, claim, obligation, notice or application or take any other action in any case by or against the
Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding. The Note Holders hereby appoint the Lead
Securitization Note Holder as their agent, and grant to the Lead Securitization Note Holder an irrevocable power of attorney coupled
with an interest, and their proxy, for the purpose of exercising any and all rights and taking any and all actions available to
a 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. Each Non-Lead Securitization
Note Holder hereby agrees that, upon the request of the Lead Securitization Note Holder, such Non-Lead Securitization Note Holder
shall execute, acknowledge and deliver to the Lead Securitization Note Holder all and every such further deeds, conveyances and
instruments as the Lead Securitization Note Holder may reasonably request for the better assuring and evidencing of the foregoing
appointment and grant. All actions taken by 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

 

    	-33- 

     

    

 

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 a 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 have any obligation 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 the other Note Holder or its Affiliates
may make loans or otherwise extend credit to, and generally engage in any kind of business with, a Borrower Party, any entity
that is a holder of debt secured by direct or indirect ownership interests in the Mortgage Loan Borrower or any entity that is
a holder of a preferred equity interest in the Mortgage Loan Borrower (each, a “Mortgage Loan Borrower Related Party”),
and receive payments on such other loans or extensions of credit to Mortgage Loan Borrower Related Parties and otherwise act with
respect thereto freely and without accountability in the same manner as if this Agreement and the transactions contemplated hereby
were not in effect.

 

Section 14.
Sale of the Notes.

 

(a)           Except
as contemplated by the second following sentence, each Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate,
hypothecate, contribute, encumber or otherwise dispose of all or any portion of its respective Note (a “Transfer”)
except to a Qualified Institutional Lender. Promptly after the Transfer, the non-transferring Note Holder shall be provided with
(x) a representation from a transferee or the applicable Note Holder certifying that such transferee is a Qualified Institutional
Lender (except in the case of a Transfer in accordance with the immediately following sentence) and (y) a copy of the assignment
and assumption agreement referred to in Section 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 (a) obtain the consent of each non-transferring Note
Holder and (b) if such non-transferring Note Holder’s Note is held in a Securitization Trust, obtain a Rating Agency Confirmation
from each Rating Agency then rating the securities of such Securitization Trust. Notwithstanding the foregoing, without the non-transferring
Note Holder’s prior consent (which will not be unreasonably withheld), and, if such non-transferring Note Holder’s
Note is held in a Securitization Trust, until a Rating Agency Confirmation is obtained, no Note Holder shall Transfer all or any
portion of its Note (or a participation interest in such Note) to a Borrower Party and any such Transfer made without the prior
consent of the non-transferring Note Holder and Rating Agency Confirmation (if such non-transferring Note

 

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Holder’s Note is held in
a Securitization Trust), shall be absolutely null and void and shall vest no rights in the purported transferee; provided
that for the avoidance of doubt, transfers of any securities backed by a Note held in a Securitization Trust will not be subject
to the foregoing requirement and such transfers shall be governed by the terms of the Lead Securitization Servicing Agreement
or any related Non-Lead Securitization Servicing Agreement, as applicable. The transferring Note Holder agrees that it shall pay
the expenses of the non-transferring Note Holder (including all expenses of the Master Servicer, the Special Servicer, the Trustee
and any Controlling Note Holder or Controlling Note Holder Representative) and all expenses relating to any Rating Agency Confirmation
in connection with any such Transfer. Notwithstanding the foregoing, each Note Holder shall have the right, without the need to
obtain the consent of the other Note Holder or of any other Person or having to provide any Rating Agency Confirmation, to Transfer
49% or less (in the aggregate) of its beneficial interest in a Note. None of the provisions of this Section 14(a) shall apply
in the case of (1) a sale of all of the Notes together, in accordance with the terms and conditions of the Lead Securitization
Servicing Agreement or (2) a transfer by the Special Servicer, in accordance with the terms and conditions of the Lead Securitization
Servicing Agreement, of the Mortgage Loan or the Mortgaged Property, upon the Mortgage Loan becoming a Defaulted Loan to a single
member limited liability or limited partnership, 100% of the equity interest in which is owned directly or indirectly, through
one or more single member limited liability companies or limited partnerships, by the Lead Securitization Trust.

 

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

 

(c)
          Notwithstanding any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any entity
(other than a Borrower Party) 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 (or, if not rated by an applicable Rating Agency, an equivalent or higher rating from any two of Fitch,
Moody’s and S&P) (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 that 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 any other Note Holder and any Servicer that a Pledge has been
effected (including the name and address of the applicable Note Pledgee), such other Note Holder agrees to acknowledge receipt
of such notice and thereafter agrees: (i) to give Note Pledgee written notice of any default by the pledging Note Holder in respect
of its obligations under
this Agreement of which default such Note Holder has 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

 

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obligations to any other Note Holder hereunder, but such Note
Pledgee shall not be obligated to cure any such default; (iii) that no amendment, modification, waiver or termination of this
Agreement shall be effective against such Note Pledgee without the written consent of such Note Pledgee, which consent shall not
be unreasonably withheld, conditioned or delayed; (iv) that such other Note Holder shall give to such Note Pledgee copies of any
notice of default under this Agreement simultaneously with the giving of same to the pledging Note Holder; (v) that such other
Note Holder shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request, provided
that any such certificate(s) shall be in a form reasonably satisfactory to such other Note Holder; and (vi) that, upon written
notice (a “Redirection Notice”) to the other Note Holders and any Servicer by such Note Pledgee that the pledging
Note Holder is in default, beyond any applicable cure periods, under the pledging Note Holder’s obligations to such Note
Pledgee pursuant to the applicable credit agreement between the pledging Note Holder and such Note Pledgee (which notice need
not be joined in or confirmed by the pledging Note Holder), and until such Redirection Notice is withdrawn or rescinded by such
Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Note Holder or Servicer would otherwise be obligated
to pay to the pledging Note Holder from time to time pursuant to this Agreement or the Lead Securitization Servicing Agreement.
Any pledging Note Holder hereby unconditionally and absolutely releases the other Note Holders and any Servicer from any liability
to the pledging Note Holder on account of such other Note Holder’s or Servicer’s compliance with any Redirection Notice
believed by any Servicer or such other Note Holder to have been delivered by a Note Pledgee. A Note Pledgee shall be permitted
to exercise fully its rights and remedies against the pledging Note Holder to such Note Pledgee (and accept an assignment in lieu
of foreclosure as to such collateral), in accordance with applicable law and this Agreement. In such event, the Note Holders and
any Servicer shall recognize such Note Pledgee (and any transferee other than a Borrower Party that is also a Qualified Institutional
Lender at any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and its successor
and assigns, as the successor to the pledging Note Holder’s rights, remedies and obligations under this Agreement, and any
such Note Pledgee or Qualified Institutional Lender shall assume in writing the obligations of the pledging Note Holder hereunder
accruing from and after such Transfer (i.e., realization upon the collateral by such Note Pledgee) and agrees to be bound
by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 14(c) shall remain effective as
to any Note Holder (and any Servicer) unless and until such Note Pledgee shall have notified any such Note Holder (and any Servicer,
as applicable) in writing that its interest in the pledged Note has terminated.

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 15.
          Registration of the Notes and Each Note Holder. The Agent shall keep or cause to be kept at the Agent Office books (the
“Note Register”) for the registration and transfer of the Notes. The Agent shall serve as the initial note
registrar and the Agent hereby accepts such appointment. The names and addresses of the holders of the Notes and the names and
addresses of any transferee of any Note of which the Agent has received notice, in the form of a copy of the assignment and assumption
agreement referred to in this Section 15, shall be registered in the Note Register. The Person in whose name a Note is so registered
shall be deemed and treated as the sole owner and holder thereof for all purposes of this Agreement. Upon request of a Note Holder,
the Agent shall provide such party with the names and addresses of the other Note Holder. To the extent the Trustee or another
party is appointed as Agent hereunder, each Note Holder hereby designates such person as its agent under this Section 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 the other Note Holders against any liability that may result
if the transfer is not made in accordance with the provisions of this Agreement.

 

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,

 

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AND/OR THE INTERPRETATION AND ENFORCEMENT
OF THE RIGHTS AND OBLIGATIONS OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL
LAWS AND DECISIONS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF (OTHER THAN SECTION 5-1401 OF THE
NEW YORK GENERAL OBLIGATIONS LAW). EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

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

 

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

 

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

 

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

 

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

 

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

 

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make other provisions with respect to matters
or questions arising under this Agreement, which shall not be inconsistent with the provisions of this Agreement.

 

Section 19.
         Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the
parties hereto and their respective successors and assigns. Except as provided herein, including without limitation, with respect
to the Trustee, Certificate Administrator, Master Servicer and Special Servicer and the 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 a 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, the Lead Securitization Note Holder, in its capacity as servicer, shall be entitled
to do so with respect to such Non-Lead Securitization Note Holder’s interest in such payment (all withheld amounts being
deemed paid to such Note Holder), provided that the Lead Securitization Note Holder shall furnish such Non-Lead Securitization
Note Holder with a statement setting forth the amount of Taxes withheld, the applicable rate and other information which may reasonably
be requested for purposes of assisting such Note Holder to seek any allowable credits or deductions for the Taxes so withheld
in each jurisdiction in which such Note Holder is subject to tax.

 

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(b)            Each
Non-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 such Non-Lead
Securitization Note Holder in reliance upon any representation, certificate, statement, document or instrument made or provided
by such Non-Lead Securitization 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 Non-Lead Securitization 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 Non-Lead Securitization 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
Non-Lead Securitization Note Holder represents to the Lead Securitization Note Holder (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
Non-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 Non-Lead Securitization
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 Non-Lead Securitization Note Holder is not created or organized under the laws of the United States, any
state thereof or the District of Columbia, and if the payment of interest or other amounts by the Mortgage Loan Borrower is treated
for United States income tax purposes as derived in whole or part from sources within the United States, such Note Holder shall
satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization Note Holder Internal Revenue Service
Form W-8ECI, Form W-8IMY (with appropriate attachments) or Form W-8BEN, or successor forms, as may be required from time to time,
duly executed by such Note Holder, as evidence of such Note Holder’s exemption from the withholding of United States tax
with respect thereto. The Lead Securitization Note Holder shall not be obligated to make any payment hereunder with respect to
any Non-Lead Securitization Note or otherwise until the related Non-Lead Securitization Note Holder shall have furnished to the
Lead Securitization Note Holder requested forms, certificates, statements or documents.

 

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Section 25.          
Custody of Mortgage Loan Documents. Prior to the Lead Securitization, the originals of all of the Mortgage Loan Documents
shall be held by the Initial Agent on behalf of the registered holders of the Notes. On and after the closing of the Lead Securitization,
the originals of all of the Mortgage Loan Documents (other than the originals of the Non-Lead Securitization Notes) shall be held
in the name of the Trustee (and held by a duly appointed custodian therefor), in accordance with the terms of the Lead Securitization
Servicing Agreement, on behalf of the registered holders of the Notes; provided that if the Lead Securitization is not the Note
A-1 Securitization, all Mortgage Loan Documents (other than Note A-2 and Note A-3) shall not be recorded or filed to reflect the
name of the trustee under the Lead Securitization Servicing Agreement for such Lead Securitization (except to the extent specifically
provided for in the Lead Securitization Servicing Agreement to the extent Note A-1 is not included in a Securitization within
a specified period of time).

 

Section 26.          
Cooperation in Securitization. Each Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to
include its Note in a Securitization. In connection with a Securitization and subject to the terms of the preceding sentence,
at the request of the related Securitizing Note Holder, the related Non-Securitizing Note Holder shall use reasonable efforts,
at such Securitizing Note Holder’s expense, to satisfy, and to cooperate with such Securitizing Note Holder in attempting
to cause the Mortgage Loan Borrower to satisfy, the market standards to which such Securitizing Note Holder customarily adheres
or that may be reasonably required in the marketplace or by the Rating Agencies in connection with such Securitization, including,
entering into (or consenting to, as applicable) any modifications to this Agreement or the Mortgage Loan Documents and to cooperate
with such Securitizing Note Holder in attempting to cause the Mortgage Loan Borrower to execute such modifications to the Mortgage
Loan Documents, in any such case, as may be reasonably requested by the Rating Agencies to effect such Securitization; provided,
that no Non-Securitizing Note Holder shall be required to modify or amend this Agreement or any Mortgage Loan Documents (or consent
to such modification, as applicable) in connection therewith, if such modification or amendment would (i) change the interest
allocable to, or the amount of any payments due to or priority of such payments to, such Non-Securitizing Note Holder or (ii)
materially increase such Non-Securitizing Note Holder’s obligations or materially decrease such Non-Securitizing Note Holder’s
rights, remedies or protections. In connection with any Securitization, each related Non-Securitizing Note Holder shall provide
for inclusion in any disclosure document relating to such Securitization such information concerning such Non-Securitizing Note
Holder and its Note as the related Securitizing Note Holder reasonably determines to be necessary or appropriate, and such Non-Securitizing
Note Holder shall, at such Securitizing Note Holder’s expense, cooperate with the reasonable requests of each Rating Agency
and such Securitizing Note Holder in connection with such Securitization (including, without limitation, reasonably cooperating
with such Securitizing Note Holder (without any obligation to make additional representations and warranties) to enable such Securitizing
Note Holder to make all necessary certifications and deliver all necessary opinions (including customary securities law opinions)
in connection with the Mortgage Loan and such Securitization), as well as in connection with all other matters and the preparation
of any offering documents thereof and to review and respond reasonably promptly with respect to any information relating to such
Note Holder and its Note in any Securitization document. Each Note Holder acknowledges that in connection with any Securitization,
the information provided by it in its capacity as a Non-Securitizing Note Holder to the related Securitizing Note Holder

 

    	-41- 

     

    

 

may be
incorporated into the offering documents for such Securitization. Each Securitizing Note Holder and each Rating Agency shall be
entitled to rely on the information supplied by, or on behalf of, each Non-Securitizing Note Holder.

 

Upon request,
each Securitizing Note Holder shall deliver to the Non-Securitizing Note Holder drafts of the preliminary and final offering memoranda,
prospectus supplement, free writing prospectus and any other disclosure documents and the pooling and servicing agreement for
the Securitization of such Securitizing Note Holder’s Note and provide reasonable opportunity to review and comment on such
documents.

 

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

 

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

 

Section 29.          
Certain Matters Affecting the Agent.

           

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

 

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

 

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

 

Section 30.          
Reserved.

 

Section 31.
          Resignation of Agent. The Agent may resign at any time on ten (10) days’ prior notice, so long as a successor Agent,
reasonably satisfactory to the Note Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a
Securitization is satisfactory to the Note Holders), has agreed to be bound by this Agreement and perform the duties of the Agent
hereunder. WFB, as Initial Agent, may transfer its rights and obligations to a Servicer, the Trustee or the Certificate Administrator,
as successor Agent, at any time without the consent of any Note Holder. Notwithstanding the foregoing, Note Holders hereby agree
that, simultaneously with the closing of the Lead Securitization, the Master Servicer shall be deemed to have been automatically
appointed as the successor Agent under this Agreement in place of WFB without any further notice or other action. The termination
or resignation of such Master Servicer, as Master Servicer under the Lead Securitization Servicing Agreement, shall be deemed
a termination or resignation of such Master Servicer as Agent under this Agreement, and any successor master servicer shall be
deemed to have been automatically appointed as the successor Agent under this Agreement in place thereof without any further notice
or other action.

 

Section 32.
Resizing. Notwithstanding any other provision of this Agreement, for so long as WFB or an affiliate (an “Original
Entity”) is the owner of the Non-Lead Securitization Note (the “Owned Note”), such Original Entity
shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended
and restated notes or additional notes (in 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 Original 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. If the
Lead Securitization Note Holder so requests, the Original Entity holding the New Notes (and any subsequent holder of such Notes)
shall execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified. Except for the
foregoing reallocation and for modifications pursuant to the Lead Securitization Servicing Agreement (as discussed in Section
5), no Note may be modified or amended without the consent of its holder and the consent of the holder of the other Note. In connection
with the foregoing (provided the

 

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conditions set forth in (i) through (v) above are satisfied, with respect to (i) through (iv),
as certified by the Original Entity, on which certification the Master Servicer can rely), the Master Servicer is hereby authorized
and directed to execute amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of the Note Holders,
as applicable, solely for the purpose of reflecting such reallocation of principal. 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]

 

    	-44- 

     

    

 

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

 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Initial Agent and Initial Note A-l Holder, Initial Note A-2 Holder and Initial Note A-3 Holder
	 	 	 
	 	By:	/s/ John Broderick
	 	 	Name: John Broderick 
	 	 	Title:   Managing Director

 

(Agreement
Between Note Holders – Pinnacle II Mortgage Loan)

 

 

    	 	 S-1	 

     

    

 

EXHIBIT
A

 

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan

 

	Mortgage Loan Borrower:	P2 Hudson MC Partners, LLC
	Date of Mortgage Loan:	June 7, 2016
	Date of Notes:	June 7, 2016
	Original Principal Amount of MortgageLoan:
	$87,000,000
	Principal Amount of Mortgage Loan asof
the date hereof:
	$87,000,000
	Initial Note A-1 Principal Balance:	40,000,000
	Initial Note A-2 Principal Balance:	20,000,000
	Initial Note A-3 Principal Balance:	27,000,000
	Location of Mortgaged Property:	Burbank, CA
	Initial Maturity Date:	June 11, 2026

 

    	 	 A-1	 

     

    

 

EXHIBIT
B

 

		1.	INITIAL NOTE A-1 HOLDER:

 

Wells Fargo Bank, National Association

375 Park Avenue, 2nd Floor

J0127-023

New York, New York 10152

Attention: A.J. Sfarra

 

with a copy to:

 

Jeff D. Blake, Esq.

Senior Counsel

Wells Fargo Law Department

D1053-300

301 South College St.

Charlotte, North Carolina 28288

 

		2.	INITIAL NOTE A-2 HOLDER:

 

Wells Fargo Bank, National Association

375 Park Avenue, 2nd Floor

J0127-023

New York, New York 10152

Attention: A.J. Sfarra

 

with a copy to:

 

Jeff D. Blake, Esq.

Senior Counsel 

Wells Fargo Law Department

D1053-300

301 South College St.

Charlotte, North Carolina 28288

 

    	 	B-1	 

     

    

  

		3.	INITIAL NOTE A-3 HOLDER:

 

        Wells Fargo Bank, National Association

        375 Park Avenue, 2nd Floor

        J0127-023

        New York, New York 10152

        Attention: A.J. Sfarra

 

        with a copy to:

 

        Jeff D. Blake, Esq.

        Senior Counsel 

        Wells Fargo Law Department

        D1053-300

        301
South College St.

        Charlotte, North Carolina 28288

 

    	 	B-2	 

     

    

 

EXHIBIT
C

 

PERMITTED
FUND MANAGERS

 

	1.	AllianceBernstein
	2.	Annaly Capital Management
	3.	Apollo Real Estate
    Advisors
	4.	Archon Capital, L.P.
	5.	AREA Property Partners
	6.	Artemis Real Estate
    Partners
	7.	BlackRock, Inc.
	8.	Clarion Partners
	9.	Colony Capital, LLC
	10.	DLJ Real Estate Capital
    Partners
	11.	Dune Real Estate Partners
	12.	Eightfold Real Estate
    Capital, L.P.
	13.	Five Mile Capital
    Partners
	14.	Fortress Investment
    Group, LLC
	15.	Garrison Investment
    Group
	16.	H/2 Capital Partners
    LLC
	17.	Hudson Advisors
	18.	Investcorp International
	19.	iStar Financial Inc.
	20.	J.P. Morgan Investment
    Management Inc.
	21.	JER Partners
	22.	Lend-Lease Real Estate
    Investments
	23.	Libermax Capital LLC
	24.	LoanCore Capital
	25.	Lone Star Funds
	26.	Lowe Enterprises
	27.	Normandy Real Estate
    Partners
	28.	Och-Ziff Capital Management
    Group
	29.	Praedium Group
	30.	Raith Capital Partners,
    LLC
	31.	Rialto Capital Management
    LLC
	32.	Rialto Capital Partners
    LLC
	33.	Rockpoint Group
	34.	Rockwood
	35.	RREEF Funds
	36.	Square Mile Capital
    Management
	37.	The Blackstone Group
	38.	The Carlyle Group
	39.	Torchlight Investors
	40.	Walton Street Capital,
    L.L.C.
	41.	Westbrook Partners
	42.	Wheelock Street Capital
	43.	Whitehall
    Street Real Estate Fund, L.P.

  

    	 	C-1

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