Document:

Exhibit 4.11

 

 

EXECUTION
VERSION

 

AGREEMENT BETWEEN NOTE HOLDERS

 

Dated as of June 30, 2017

 

by and between

 

MORGAN STANLEY BANK, N.A.

(Initial Note A-1 Holder and Initial Note B-1 Holder)

 

and

 

DEUTSCHE BANK AG, ACTING THROUGH ITS NEW
YORK BRANCH

(Initial Note A-2 Holder and Initial Note B-2 Holder)

 

and

 

CITIGROUP GLOBAL MARKETS REALTY CORP.

(Initial Note A-3 Holder and Initial Note B-3 Holder)

 

and

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Initial Note A-4 Holder and Initial Note B-4 Holder)

 

and

 

CANTOR COMMERCIAL REAL ESTATE LENDING, L.P.

(Initial CCRE Note Holder)

 

     

     

    

 

GM Building Loan

 

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TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Section 1.	Definitions	2
	Section 2.	Servicing of the Mortgage Loan	17
	Section 3.	Priority of Payments	23
	Section 4.	Workout	28
	Section 5.	Administration of the Mortgage Loan	29
	Section 6.	Appointment of Controlling Note Holder Representative and Non-Controlling Note Holder Representative	33
	Section 7.	Appointment of Special Servicer	35
	Section 8.	Payment Procedure	36
	Section 9.	Limitation on Liability of the Note Holders	37
	Section 10.	Bankruptcy	37
	Section 11.	Representations of the Note Holders	38
	Section 12.	No Creation of a Partnership or Exclusive Purchase Right	38
	Section 13.	Other Business Activities of the Note Holders	38
	Section 14.	Sale of the Notes	39
	Section 15.	Registration of the Notes and Each Note Holder	41
	Section 16.	Governing Law; Waiver of Jury Trial	42
	Section 17.	Submission To Jurisdiction; Waivers	42
	Section 18.	Modifications	43
	Section 19.	Successors and Assigns; Third Party Beneficiaries	43
	Section 20.	Counterparts	43
	Section 21.	Captions	43
	Section 22.	Severability	44
	Section 23.	Entire Agreement	44
	Section 24.	Withholding Taxes	44
	Section 25.	Custody of Mortgage Loan Documents	45
	Section 26.	Cooperation in Securitization	45
	Section 27.	Notices	46
	Section 28.	Broker	46
	Section 29.	Certain Matters Affecting the Agent	47
	Section 30.	Resignation of Agent	47
	Section 31.	Resizing	48

  

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This AGREEMENT BETWEEN
NOTE HOLDERS, dated as of June 30, 2017 by and between MORGAN STANLEY BANK, N.A. (“MSBNA”), a national banking
association, as initial owner of Note A-1 (in such capacity, the “Initial Note A-1 Holder” and, in its capacity
as the initial agent, the “Initial Agent”) and as initial owner of Note B-1 (in such capacity, the “Initial
Note B-1 Holder”), DEUTSCHE BANK AG, ACTING THROUGH ITS NEW YORK BRANCH (“DB”), a branch of Deutsche
Bank AG, a German Bank, as initial owner of Note A-2 (in such capacity, the “Initial Note A-2 Holder”) and as
initial owner of Note B-2 (in such capacity, the “Initial Note B-2 Holder”), CITIGROUP GLOBAL MARKETS REALTY
CORP. (“CGMRC”), a New York corporation, as initial owner of Note A-3 (in such capacity, the “Initial
Note A-3 Holder”) and as initial owner of Note B-3 (in such capacity, the “Initial Note B-3 Holder”),
Wells Fargo Bank, National Association (“WFB”), a national banking association, as initial owner of Note A-4
(in such capacity, the “Initial Note A-4 Holder”) and as initial owner of Note B-4 (in such capacity, the “Initial
Note B-4 Holder” and, together with the Initial Note B-1 Holder, the Initial Note B-2 Holder and the Initial Note B-3
Holder, the “Initial Note B Holders”), and Cantor Commercial Real Estate Lending, L.P. (“CCRE”),
a Delaware limited partnership, as initial owner of the CCRE Notes (the “Initial CCRE Note Holder” and, together
with the Initial Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder and the Initial Note A-4 Holder, the
“Initial Note A Holders”; the Initial Note A Holders and the Initial Note B Holders 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), MSBNA, DB, CGMRC and WFB originated a certain loan (the “Mortgage Loan”)
described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the mortgage loan borrower
described on the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which is evidenced, inter alia,
by a promissory note dated June 7, 2017 made by the Mortgage Loan Borrower, which was subsequently split into the promissory notes
listed under “Promissory Notes” on the Mortgage Loan Schedule pursuant to a note splitter agreement dated as of June
7, 2017 in favor of the Initial Note Holders (such promissory notes, as amended, modified, supplemented or, in accordance with
Section 31 of this Agreement, replaced, collectively, the “Notes”);

 

WHEREAS, each of the
Notes is secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”) on certain real
property located as described in the Mortgage Loan Agreement (collectively, the “Mortgaged Property”);

 

WHEREAS, CCRE acquired
the CCRE Notes (as defined herein) from MSBNA, DB, CGMRC and WFB prior to the date hereof; and

 

WHEREAS, each Initial
Note Holder desires to enter into this Agreement to memorialize the terms under which it, and its 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 (or to any analogous term) 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.

 

“Accepted Servicing
Practices” shall have the meaning set forth in the Lead Securitization Servicing Agreement. Accepted Servicing Practices
set forth 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 (taking into account the subordinate nature of the Junior
Notes).

 

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

 

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

 

“Advance Interest”
shall mean interest at the Advance Rate payable to the Master Servicer, the Special Servicer or the Trustee on outstanding Advances
with respect to the Mortgage Loan.

 

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

 

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

 

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

 

“Agent Office”
shall mean the designated office of the Agent, which office, as of the date of this Agreement, is the office of the Initial Note
A-1 Holder listed on Exhibit B, 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.

 

“Appraisal Reduction
Amount” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

 

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

 

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

 

“Balloon Payment”
shall mean, with respect to the Mortgage Loan, the payment of principal due on its stated maturity date.

 

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

 

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

 

“CCRE Notes”
shall mean, collectively, Note A-1-A1, Note A-2-A1, Note A-3-A1 and Note A-4-A1.

 

“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.

 

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

 

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

 

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

 

“Commission”
shall mean the Securities and Exchange Commission.

 

“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 

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

 

“Controlling
Note” shall mean Note A-1-S.

 

“Controlling
Note Holder” shall mean the holder of the Controlling Note; provided that at any time the Controlling Note is
included in the Lead Securitization, references to the “Controlling Note Holder” herein shall mean the Controlling
Class Representative or any other party assigned the rights to exercise the rights of the Controlling Note Holder pursuant to the
Lead Securitization Servicing Agreement; provided, that for so long as 25% or more of the Controlling Note is held by (or
the majority “controlling class” holder or other party assigned the rights to exercise the rights of the Controlling
Note Holder (as described above) is) a Mortgage Loan Borrower Party, the Controlling Note (and such party assigned the rights to
exercise the rights of the Controlling Note Holder as described above) shall not be entitled to exercise any rights of the Controlling
Note Holder, and there shall be deemed to be no Controlling Note Holder hereunder.

 

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

 

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

 

“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.

 

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

 

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

 

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

 

“Initial CCRE
Note Holder”, “Initial Note A Holders”, “Initial Note A-1 Holder”, “Initial
Note A-2 Holder”, “Initial Note A-3 Holder”, “Initial Note A-4 Holder”, “Initial
Note B Holders”, “Initial Note B-1 Holder”, “Initial Note B-2 Holder”, “Initial
Note B-3 Holder” and “Initial Note B-4 Holder” shall each have the meaning assigned to such term in
the preamble to this Agreement.

 

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

 

“Interest Rate”
shall mean, with respect to any Note, the corresponding interest rate set forth on the Mortgage Loan Schedule.

 

“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.

 

“Junior Notes”
shall mean Note B-1, Note B-2, Note B-3 and Note B-4.

 

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

 

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

 

“Lead Securitization
Note(s)” shall mean Note A-1-S and any other Notes included in the Lead Securitization Trust.

 

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

 

“Lead Securitization
Servicing Agreement” shall mean the trust and servicing agreement to be entered into in connection with the Lead Securitization
and issuance of the BXP Trust 2017-GM, Commercial Mortgage Pass Through Certificates, Series 2017-GM, between the Trustee, the
Master Servicer, the Special Servicer, the Depositor and the Certificate Administrator.

 

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

 

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

 

“Master Servicer”
shall mean the Master Servicer (or analogous term) appointed as provided in the Lead Securitization Servicing Agreement.

 

“Master Servicing
Fee” shall have the meaning set forth 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 7, 2017, between the Mortgage Loan Borrower and MSBNA, DB,
CGMRC and WFB, as lenders, 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 Party” shall have the meaning assigned to the term “Borrower Party” set forth in the Lead Securitization
Servicing Agreement.

 

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

 

“Mortgage Loan
Interest Rate” shall mean the per annum rate at which interest accrues on the Mortgage Loan, without regard to
any increase in such rate as a result of a default thereunder.

 

“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.

 

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

 

“MSMCH”
shall mean Morgan Stanley Mortgage Capital Holdings LLC.

 

“Net Interest
Rate” shall mean, with respect to any Note, the related Interest Rate, less the applicable Primary Servicing Fee Rate.

 

“New Notes”
shall have the meaning assigned to such term in Section 31.

 

“Non-Controlling
Note” means each Note other than the Controlling Note.

 

“Non-Controlling
Note Holder” means any 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 Non-Lead Securitization, references to the “Non-Controlling Note Holder”
herein shall mean the Non-Lead Securitization Controlling Class Representative under the related Non-Lead Securitization Servicing
Agreement or any other party assigned the rights to exercise the rights of such Non-Controlling Note Holder pursuant to the related
Non-Lead Securitization Servicing Agreement, as to the identity of which the Lead Securitization Note Holder (and the Master Servicer
and the Special Servicer) has been given written notice; provided, that for so long as 50% or more of such Non-Controlling
Note is held by (or the majority “controlling class” holder or other party assigned the rights to exercise the rights
of such Non-Controlling Note Holder (as described above) is) a Mortgage Loan Borrower Party, such Non-Controlling Note (and such
party assigned the rights to exercise the rights of such Non-Controlling Note Holder as described above) shall not be entitled
to exercise any rights of such Non-Controlling Note Holder, and there shall be deemed to be no Non-Controlling Note Holder hereunder
with respect to such Non-Controlling Note. 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 in respect of any Note that is 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 Non-Lead Securitization Servicing Agreement assigns such rights to more than one party or (y) to
the extent more than one Non-Controlling Note is included in such Securitization, for purposes of this Agreement, the related Non-Lead
Securitization Servicing Agreement or the holders of such New Notes shall designate one party to deal with 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 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 any related Non-Controlling Note Holder (or the related Non-Lead Master Servicer
or another party acting on its behalf), the current Note Holder of each Non-Controlling Note is the “Non-Controlling Note
Holder” with respect to such Note.

 

Prior to Securitization
of any Non-Controlling Note (including any New Notes), all notices, reports, information or other deliverables required to be delivered
to the related Non-

 

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

 

Notwithstanding any of
the foregoing to the contrary, any such delivery requirements shall be deemed satisfied so long as the related Non-Controlling
Note is a Lead Securitization Note.

 

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

 

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

 

“Non-Lead Asset
Representations Reviewer” shall mean the party acting as “asset representations reviewer” (within the meaning
of Item 1101(m) of Regulation AB) under 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 have the meaning assigned to such term in Section 2(b).

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Nonrecoverable
Administrative Advance” shall mean any Administrative Advance that is a Nonrecoverable Advance.

 

“Nonrecoverable
Advance” shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

 

“Nonrecoverable
Property Protection Advance” shall mean any Property Protection Advance that is a Nonrecoverable Advance.

 

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

 

“Note A-1”
shall mean, collectively, Note A-1-S, Note A-1-C1, Note A-1-C2, Note A-1-C3, Note A-1-C4, Note A-1-A2 and Note A-1-A3.

 

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“Note A-1-S,”
“Note A-1-C1,” “Note A-1-C2,” “Note A-1-C3,” “Note A-1-C4,”
“Note A-1-A1,” “Note A-1-A2” and “Note A-1-A3” shall mean the promissory
notes with the same alphanumeric designations listed under “Promissory Notes” on the Mortgage Loan Schedule,
as such promissory notes may be amended, modified or supplemented.

 

“Note A-2” shall mean,
collectively, Note A-2-S, Note A-2-C1, Note A-2-C2, Note A-2-C3, Note A-2-A2 and Note A-2-A3.

 

“Note A-2-S,”
“Note A-2-C1,” “Note A-2-C2,” “Note A-2-C3,” “Note A-2-A1,”
“Note A-2-A2” and “Note A-2-A3” shall mean the promissory notes with the same alphanumeric
designations listed under “Promissory Notes” on the Mortgage Loan Schedule, as such promissory notes may be
amended, modified or supplemented.

 

“Note A-3” shall mean,
collectively, Note A-3-S, Note A-3-C1, Note A-3-C2, Note A-3-C3, Note A-3-A2 and Note A-3-A3.

 

“Note A-3-S,”
“Note A-3-C1,” “Note A-3-C2,” “Note A-3-C3,” “Note A-3-A1,”
“Note A-3-A2” and “Note A-3-A3” shall mean the promissory notes with the same alphanumeric
designations listed under “Promissory Notes” on the Mortgage Loan Schedule, as such promissory notes may be
amended, modified or supplemented.

 

“Note A-4” shall mean,
collectively, Note A-4-S, Note A-4-C1, Note A-4-C2, Note A-4-C3, Note A-4-A2 and Note A-4-A3.

 

“Note A-4-S,”
“Note A-4-C1,” “Note A-4-C2,” “Note A-4-C3,” “Note A-4-A1,”
“Note A-4-A2” and “Note A-4-A3” shall mean the promissory notes with the same alphanumeric
designations listed under “Promissory Notes” on the Mortgage Loan Schedule, as such promissory notes may be
amended, modified or supplemented.

 

“Note B-1,”
“Note B-2,” “Note B-3” and “Note B-4” shall mean the promissory notes
designated as “Note B-1-S,” “Note B-2-S,” “Note B-3-S” and “Note
B-4-S” and listed under “Promissory Notes” on the Mortgage Loan Schedule, as such promissory notes
may be amended, modified or supplemented.

 

“Note Holder” shall mean
with regards to any Note, the related Initial Note Holder and its successors and assigns, or any subsequent holder of such Note,
as applicable.

 

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

 

“Note Principal
Balance” shall mean, with respect to each Note, at any time of determination, the “Initial Note Principal Balance”
for such Note, as set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution
thereof) received by the related Note Holder (or any holders of New Notes in substitution thereof) or reductions in such amount
pursuant to Section 3 or Section 4, as applicable.

 

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

 

“Original Entity”
shall have the meaning assigned to such term in Section 31.

 

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“Origination
Date” shall mean June 7, 2017.

 

“Owned Note”
shall have the meaning assigned to such term in Section 31.

 

“P&I Advance”
shall mean an advance made by (a) a party to the Lead Securitization Servicing Agreement in respect of a delinquent monthly debt
service payment on a Lead Securitization Note or (b) a party to a Non-Lead Securitization Servicing Agreement in respect of a delinquent
monthly debt service payment on the related Non-Lead Securitization Note.

 

“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 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 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).

 

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

 

“Primary Servicing
Fee Rate” shall have the meaning set forth in the Lead Securitization Servicing Agreement.

 

“Property Protection
Advance” shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

 

“Pro Rata and
Pari Passu Basis” shall mean (i) with respect to the Senior Notes and the related Note Holders, the allocation of any
particular payment, reimbursement, collection, cost, expense, liability or other amount among such Senior Notes or such Note Holders,
as the case may be, without any priority of any such Senior Note or any such Note Holder over another such Senior Note or Note
Holder, as the case may be, and in any event such that each Senior Note or Note Holder, as the case may be, is allocated its respective
pro rata share based on their respective Note Principal Balances as of the Origination Date (or, in the case of the reimbursement
of a cost, expense or loss, based on the respective reimbursable amounts) (as among Senior Notes) of such particular payment, reimbursement,
collection, cost, expense, liability or other amount; and (ii) with respect to the Junior Notes and the related Note Holders, the
allocation of any particular payment, reimbursement, collection, cost, expense, liability or other amount among such Junior Notes
or such Note Holders, as the case may be, without any priority of any such Junior Note or any such Note Holder over another such
Junior Note or Note Holder, as the case may be, and in any event such that each Junior Note or Note Holder, as the case may be,
is allocated its respective pro rata share based on their respective Note Principal

 

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Balances as of the Origination Date
(or, in the case of the reimbursement of a cost, expense or loss, based on the respective reimbursable amounts) (as among Junior
Notes) of such particular payment, reimbursement, 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)           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 Act, or an “accredited investor” within the meaning of Rule 501(a) (1), (2), (3) or (7) of Regulation D under the
Act, or

 

(iii)     a
Qualified Trustee in connection with (a) a securitization of, (b) the creation of collateralized debt obligations (“CDO”)
secured by, or (c) a financing through an “owner trust” of, a Note or any interest therein (any of the foregoing, a
“Securitization Vehicle”), provided that (1) one or more classes of securities issued by such Securitization
Vehicle is initially rated at least investment grade by each of the Rating Agencies that assigned a rating to one or more classes
of securities issued in connection with that Securitization; (2) in the case of a Securitization Vehicle that is not a CDO, the
special servicer of such Securitization Vehicle has a Required Special Servicer Rating or is otherwise 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

 

     12

     

    

 

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

 

(c)           any
entity Controlled by any of the entities described in clause (b) (other than clause (b)(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.

 

In no event shall a Qualified
Institutional Lender be a Mortgage Loan Borrower or a Mortgage Loan Borrower Party.

 

“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 has a rating in 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

 

     13

     

    

 

(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 (which may be in electronic form)
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 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 or no Notes are part of a Securitization, any action that would otherwise require a Rating Agency
Confirmation shall instead require the consent of the Controlling 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 that Rating Agency 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 have the meaning assigned to such term in Section 5(e).

 

“Required Special
Servicer Rating” shall mean with respect to a special servicer (A) in the case of Fitch, at least “CSS3”
by Fitch; (B) in the case of S&P, that such special servicer appears on the S&P Select Servicer List as a U.S. Commercial
Mortgage Special Servicer; (C) in the case of Moody’s, that (1) the servicer confirms in writing that it was appointed to
act as, and currently serves as, special servicer on a transaction-level basis on the closing date of a commercial mortgage loan
securitization with respect to which Moody’s rated 

 

     14

     

    

 

one or more classes of certificates
and one or more of such classes of certificates are still outstanding and rated by Moody’s, and (2) Moody’s has
not cited servicing concerns with respect to such servicer as the sole or a 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 rated by Moody’s in any other commercial mortgage-backed securities transaction serviced by
such servicer prior to the time of determination; (D) in the case of Morningstar, that the 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 servicer, such 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 servicer as special servicer of such
commercial mortgage securities; (E) in the case of KBRA, that (1) the servicer is acting as special servicer in a
commercial mortgage loan securitization that was rated by KBRA within the twelve (12) month period prior to the date of
determination that has not been downgraded or caused the withdrawal of the then current rating on any class of commercial
mortgage securities or placement of any class of commercial mortgage securities on watch citing the continuation of such
servicer as special servicer of such commercial mortgage securities as the sole or a material reason for such downgrade or
withdrawal (or placement on watch) or (2) the servicer has not acted as special servicer in a commercial mortgage loan
securitization that was rated by KBRA in such twelve (12) month period but has received a Rating Agency Confirmation from
KBRA; and (F) in the case of DBRS, that the servicer currently acts as special servicer in a CMBS transaction rated by DBRS
(as to which CMBS transaction there are outstanding CMBS rated by DBRS) and that has not been cited by DBRS as having
servicing concerns that are the sole or a 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 CMBS
transaction serviced by such servicer prior to the time of determination.

 

“Reverse Sequential
Order” shall mean, with respect to any reduction of the Note Principal Balance of any Note(s) or with respect to the
allocation of any expenses and losses relating to the Mortgage Loan and the Mortgaged Property, including, without limitation,
losses of principal or interest, Property Protection Advances (and any Advance Interest thereon), Special Servicing Fees, Liquidation
Fees and Workout Fees, and certain other trust expenses, as well as Appraisal Reduction Amounts, (a) first, to the reduction
of the Note Principal Balance of each of the Junior Notes, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance
of each such Note is reduced to zero; and (b) second, to the reduction of the Note Principal Balance of each of the Senior
Notes, on a Pro Rata and Pari Passu Basis, until the Note Principal Balance of each such Note is reduced to zero.

 

“S&P”
shall mean S&P Global Ratings, 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.

 

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

 

“Securitization
Date” shall mean the closing date of the first Securitization of a Note or portion thereof.

 

“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.

 

“Senior Notes”
shall mean Note A-1-S, Note A-1-C1, Note A-1-C2, Note A-1-C3, Note A-1-C4, Note A-1-A1, Note A-1-A2, Note A-1-A3, Note A-2-S,
Note A-2-C1, Note A-2-C2, Note A-2-C3, Note A-2-A1, Note A-2-A2, Note A-2-A3, Note A-3-S, Note A-3-C1, Note A-3-C2, Note A-3-C3,
Note A-3-A1, Note A-3-A2, Note A-3-A3, Note A-4-S, Note A-4-C1, Note A-4-C2, Note A-4-C3, Note A-4-A1, Note A-4-A2 and Note A-4-A3.

 

“Senior Trust
Notes” shall mean Note A-1-S, Note A-2-S, Note A-3-S, Note A-4-S, Note A-1-C1, Note A-2-C1, Note A-3-C1 and Note A-4-C1.

 

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

 

“Servicing File”
shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

 

“Servicer Termination
Event” means a “Servicer Termination Event” or a “Special Servicer Termination Event”, as applicable,
and as defined 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.

 

“Special Servicer”
shall mean the Special Servicer appointed as provided in the Lead Securitization Servicing Agreement and this Agreement.

 

“Special Servicing
Loan Event” shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

 

“Specially Serviced
Mortgage Loan” shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

 

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

 

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

 

“Triggering
Event of Default” shall mean (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to
pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes
a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause
(vii) of the definition of Special Servicing Loan Event)).

 

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

 

“U.S. Person”
shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

 

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

 

“Workout”
shall have the meaning assigned to such term in Section 4(a).

 

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 (i) monthly payments
of principal or interest in respect of any Note other than the Lead Securitization Notes if such principal or interest is not paid
by the Mortgage Loan Borrower or (ii) any Administrative Advances with respect to any Note other than the Lead Securitization Notes,
but the Master Servicer shall be obligated to make Property Protection Advances in respect of the Mortgage Loan, subject to the
terms of the Lead Securitization Servicing Agreement including any provisions governing the determination of non-recoverability.
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 shall, subject to Section 26, reasonably cooperate with such other Note Holder, at such other Note Holder’s
expense, to effect such Securitization. Subject to the terms and conditions of this Agreement, each Note Holder hereby irrevocably
and unconditionally consents to the appointment of the Master Servicer, the Special Servicer, as may be replaced pursuant to the
terms of the Lead Securitization Servicing Agreement, the Certificate Administrator and the Trustee under the Lead Securitization
Servicing Agreement by the Depositor 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, provided further,
that when appointed, the Special Servicer has the Required Special Servicer Rating from each Rating Agency then rating a Securitization,
if any. Each Note Holder hereby appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization as
such Note Holder’s

 

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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 Holders set forth herein and in the Lead Securitization Servicing Agreement). The Lead Securitization Servicing Agreement
shall not limit the Servicers 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 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 Accepted Servicing Practices, the terms of the Mortgage Loan Documents, the
Lead Securitization Servicing Agreement and applicable law, (ii) to provide information to each Non-Lead Master Servicer and each
Non-Lead Special Servicer under each Non-Lead Securitization Servicing Agreement necessary to enable each such Non-Lead Servicer
to perform its servicing duties under the related 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 (including,
without limitation, all applicable provisions relating to delivery of information and reports necessary for any Non-Lead Securitization
to comply with any applicable reporting requirements under the Exchange Act) 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 servicers 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 or the special servicer does
not have the Required Special Servicer Rating, 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 being
replaced or by any Person appointed by the Lead Securitization Note Holder that is a qualified servicer meeting the requirements
of the Lead Securitization Servicing Agreement and with respect to the Special Servicer, that has the Required Special Servicer
Rating. The Note Holders acknowledge and agree that (i) at any time that the Lead Securitization Notes are no longer included in
a Securitization Trust, the Servicer and the Trustee shall have no obligation to make any P&I Advance or any Administrative
Advance on the Lead Securitization Notes and (ii) at any time that no portion of the Mortgage Loan is included in a Securitization
Trust, the Servicer and the Trustee shall have no obligation to make any Advance with respect to the Mortgage Loan unless otherwise
provided in any related replacement 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

 

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the Lead Securitization Servicing Agreement) shall (i) make Property Protection Advances with
respect to the Mortgage Loan, subject to the terms of the Lead Securitization Servicing Agreement and this Agreement, and (ii)
make P&I Advances and Administrative Advances on the Lead Securitization Notes, if and to the extent provided in the Lead Securitization
Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled
to reimbursement for a Property Protection Advance, first from funds on deposit in the Collection 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
Property Protection Advances, if funds on deposit in the Collection Account are insufficient and after allocation of such amounts
first to the Junior Notes (on a Pro Rata and Pari Passu Basis), from general collections of each Non-Lead Securitization, in respect
of the related Non-Lead Securitization Note’s pro rata share (on a Pro Rata and Pari Passu Basis) of such non-recoverable
amounts allocated to the Senior Notes. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled
to reimbursement for Advance Interest on a Property Protection Advance (or a Nonrecoverable Property Protection Advance), in the
manner and from the sources provided in the Lead Securitization Servicing Agreement, including from general collections of each
Non-Lead Securitization.

 

In addition, each Non-Lead
Securitization Note Holder (including, but not limited to, any Non-Lead Securitization Trust into which such Non-Lead Securitization
Note is deposited) shall be required to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee,
pay or reimburse the Lead Securitization for such Non-Lead Securitization Note Holder’s pro rata share (on a Pro Rata
and Pari Passu Basis) of the portion allocated to the Senior Notes 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 Depositor or CREFC®, as applicable, is entitled to be reimbursed pursuant to the Lead Securitization
Servicing Agreement and any costs, fees and expenses related to obtaining any Rating Agency Confirmation, to the extent amounts
on deposit in the Collection Account are insufficient for reimbursement of such amounts and after allocation of such amounts first
to the Junior Notes (on a Pro Rata and Pari Passu Basis). In addition to the reimbursement obligations with respect to Advances
(and Advance Interest) otherwise provided for in this Agreement, 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 pursuant to the terms
of the Lead Securitization Servicing Agreement) each of the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee 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) (the “Indemnified Parties”)
against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities,
fees and expenses incurred in connection with the servicing and administration of the Mortgage Loan and the Mortgaged Property
under the Lead Securitization Servicing Agreement (collectively, the “Indemnified Items”) to the extent of its
pro rata share (on a Pro Rata and Pari Passu Basis) of the portion allocated to the Senior Notes of such Indemnified Items,
and to the extent amounts on deposit in the Collection Account are insufficient for reimbursement of such amounts and after allocation
of such amounts first to the Junior Notes (on a Pro Rata and Pari Passu Basis), the related Non-Lead Securitization Note Holder
shall be required to, promptly following notice from the Master Servicer, the Special Servicer, the Certificate Administrator or
the Trustee, reimburse each of the

 

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applicable Indemnified Parties for such pro rata share (including, if a Non-Lead Securitization
Note has been included in a Non-Lead Securitization, from general collections or any other amounts from the related Non-Lead Securitization
Trust).

 

The master servicer under
a Non-Lead Securitization (a “Non-Lead Master Servicer”) (or the related Non-Lead Trustee if not made by such
Non-Lead Master Servicer) may be required to make P&I Advances on the related Non-Lead Securitization Note, from time to time,
subject to the terms of the related servicing agreement for such Securitization (each such agreement, a “Non-Lead Securitization
Servicing Agreement”), the Lead Securitization Servicing Agreement and this Agreement. Each of the Master Servicer, the
Special Servicer and the Trustee, as applicable, shall be entitled to make its own recoverability determination with respect to
any P&I Advance or any Administrative Advance to be made on any Lead Securitization Note based on the information that they
have on hand and in accordance with the Lead Securitization Servicing Agreement. Each Non-Lead Master Servicer and the special
servicer (a “Non-Lead Special Servicer”) and the trustee (a “Non-Lead Trustee”) under each
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 and the Trustee, as applicable,
and any Non-Lead Master Servicer or Non-Lead Trustee, as applicable, shall be required to notify the other parties to the applicable
other Securitization 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(s)) or a Non-Lead Master Servicer,
a 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 Property
Protection Advance or Administrative Advance would, if made, be non-recoverable or an outstanding Property Protection Advance or
Administrative Advance is or would be non-recoverable, then the party making such determination shall notify each Non-Lead Master
Servicer and Non-Lead Trustee (in the case of a determination by the Master Servicer or the Trustee) or each of the Master Servicer
and the Trustee (in the case of a determination by any Non-Lead Master Servicer or Non-Lead Trustee) within two business days of
making such determination. Each of the Master Servicer, the Trustee, the related Non-Lead Master Servicer and the related Non-Lead
Trustee, as applicable, shall be entitled to reimbursement for a P&I Advance (and Advance Interest thereon) or an Administrative
Advance (and Advance Interest thereon) that becomes non-recoverable from the Collection Account from amounts allocable to the Mortgage
Loan prior to any distributions to the Noteholders; provided, that any such Advances outstanding in respect of the Senior
Notes shall be reimbursed (on a Pro Rata and Pari Passu Basis as between such Senior Notes, based on the respective outstanding
principal balances of such Senior Notes) prior to any such advances outstanding in respect of the Junior Notes (which shall be
reimbursed on a Pro Rata and Pari Passu Basis as between such Junior Notes, based on the respective outstanding principal balances
of such Junior Notes).

 

(c)           Each
Non-Lead Securitization Note Holder agrees that, if its 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:

 

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(i)            such
Non-Lead Securitization Note Holder shall be responsible for its pro rata share (on a Pro Rata and Pari Passu Basis) of
any Property Protection Advances (and Advance Interest thereon) and any Trust Fund Expenses allocated to the Senior Notes (after
being allocated to the Notes in Reverse Sequential Order), but only to the extent that they relate to servicing and administration
of the Notes or the Mortgaged Property, including without limitation, any unpaid Special Servicing Fees, Liquidation Fees and Workout
Fees relating to the Notes, and if the funds received with respect to each respective Note are insufficient to cover such amounts,
each Non-Lead Master Servicer (if the related Non-Lead Securitization Note is included in a Non-Lead Securitization Trust) shall
promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse the Master Servicer, the Special Servicer,
the Certificate Administrator, the Trustee, or the Lead Securitization Trust, as applicable, out of general collections in the
collection account (or equivalent account) established under the related Non-Lead Securitization Servicing Agreement for such pro
rata share;

 

(ii)           each
of the Indemnified Parties shall be indemnified by each Non-Lead Securitization Trust (as and to the same extent the Lead Securitization
Trust is required to indemnify each of such Indemnified Parties pursuant to the terms of the Lead Securitization Servicing Agreement),
against any of the Indemnified Items to the extent of the related Non-Lead Securitization Note’s pro rata share (on
a Pro Rata and Pari Passu Basis) of such Indemnified Items allocated to the Senior Notes (after being allocated to the Notes in
Reverse Sequential Order), and to the extent amounts on deposit in the Collection 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
the related Non-Lead Securitization Note’s pro rata share (on a Pro Rata and Pari Passu Basis) of such insufficiency
allocated to the Senior Notes (after being allocated to the Notes in Reverse Sequential Order) out of general collections in the
collection account (or equivalent account) established under the related Non-Lead Securitization Servicing Agreement;

 

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

 

(iv)          the
applicable Non-Lead Master Servicer, Non-Lead Special Servicer and Non-Lead Trustee under the related Non-Lead Securitization Servicing
Agreement shall

 

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notify the Master Servicer, the Special Servicer, the Trustee and the Certificate Administrator of any P&I
Advance it has made with respect to the applicable Non-Lead Securitization Note(s) included in such Non-Lead Securitization within
two Business Days of making such advance;

 

(v)           if
the applicable Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee determines that a proposed P&I
Advance with respect to the related Non-Lead Securitization Note, if made, or any outstanding P&I
Advance previously made with respect to the related Non-Lead Securitization Note, would be, or is, as applicable, a “nonrecoverable
advance,” the applicable Non-Lead Master Servicer shall provide the Master Servicer and each other Non-Lead Master Servicer
written notice of such determination within two Business Days after such determination is made;

 

(vi)          the
Non-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 (a) required by the Code relating to the tax elections of
the related Securitization Trust, (b) required by law or changes in any law, rule or regulation or (c) requested by the Rating
Agencies rating the related Securitization; and

 

(vii)         the
Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Depositor and the Lead Securitization Trust
shall be third party beneficiaries of the foregoing provisions;

 

provided, that
none of the foregoing shall be construed to prohibit differences in control or consultation triggers or thresholds, terminology,
allocation of ministerial duties between multiple servicers or other service providers or certificateholder or investor voting
or consent thresholds, or to prohibit or restrict additional approval, consent, consultation, notice or rating agency confirmation
requirements.

 

(d)           [Reserved].

 

(e)           [Reserved].

 

(f)            Following
the closing of the Lead Securitization, upon receipt of written notice (which may be by email) of the closing or pending closing
of any Non-Lead Securitization and upon request from the Non-Lead Depositor, the Depositor (or other designated party under the
Lead Securitization Servicing Agreement) shall provide such Non-Lead Depositor with a copy of the Lead Securitization Servicing
Agreement in an EDGAR-compatible format.

 

(g)           In
the event that a Non-Lead Securitization closes prior to the Lead Securitization, the Lead Securitization Note Holder shall provide
written notice of such Lead Securitization to the Non-Lead Depositor and Non-Lead Trustee of each Non-Lead Securitization and,
promptly upon the execution of the Lead Securitization Servicing Agreement (but not later than one business day after the day on
which such document is executed), shall provide a copy of the Lead Securitization Servicing Agreement in an EDGAR-compatible format.

 

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(h)           If
the 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, 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.

 

Section
3.          Priority of Payments.Payments Prior to an Event of Default.
(a) Subject to the application of Section 4, if no Triggering Event of Default, as determined by the Master Servicer
or Special Servicer, as applicable, in accordance with Accepted Servicing Practices shall have occurred and be continuing,
all amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with respect to or in connection
with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds thereof whether received in the form of
Scheduled Interest Payments, Scheduled Principal Payments, any proceeds from the sale or distribution of any Foreclosed
Property, 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) but excluding (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, (y) all amounts received as reimbursements on
account of recoveries in respect of property protection expenses or Property Protection Advances then due and payable or
reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing Agreement (it being understood that
subject to the terms of the Lead Securitization Servicing Agreement and this Agreement, the right to reimbursement of such
Property Protection Advances is senior to that of any Note Holder to receive payments on its Note) and (z) 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 (or, solely as regards P&I Advances and Administrative Advances made thereby and interest thereon,
reimbursable to any Non-Lead Master Servicer or Non-Lead Trustee with respect to the applicable Notes pursuant to
the applicable Non-Lead Securitization Servicing Agreement) and any other additional compensation payable to any Servicer
thereunder (including without limitation, any additional trust expenses relating to the Mortgage Loan (but subject to the
second paragraph of Section 5(e) hereof) reimbursable to, or payable by, such parties and any Special Servicing Fees,
Liquidation Fees, Work-out Fees, penalty charges (to the extent provided in Section 3(d)) (and including any P&I Advances
(and interest thereon) or any Administrative Advances (and interest thereon) on the Notes, which shall be reimbursed in
accordance with Section 2(b) hereof and the Lead Securitization Servicing Agreement), but excluding any Master
Servicing Fees and Primary Servicing Fees, which such fees shall not be subject to the allocation provisions of this Section
3 but shall be payable in accordance with the Lead Securitization Servicing Agreement) shall be payable as follows:

 

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(i)           first,
to the holders of the Senior Trust Notes on a Pro Rata and Pari Passu Basis up to the amount of any unreimbursed costs and expenses
paid by such holders of the Senior Trust Notes (or paid or advanced by a Servicer or the Trustee, as applicable) with respect to
the Mortgage Loan pursuant to this Agreement or the Lead Securitization Servicing Agreement;

 

(ii)         second,
to the holders of the Senior Notes on a Pro Rata and Pari Passu Basis, based on their respective interest entitlements, in each
case in an amount equal to the accrued and unpaid interest on its respective Note Principal Balance at the Net Interest Rate applicable
to such Senior Note;

 

(iii)        third,
to the holders of the Junior Notes on a Pro Rata and Pari Passu Basis, based on their respective interest entitlements, in each
case in an amount equal to the accrued and unpaid interest on its respective Note Principal Balance at the Net Interest Rate applicable
to such Junior Note;

 

(iv)         fourth,
pro rata based on the Note Principal Balances of their respective Notes, to each holder of a Senior Note in an amount equal
to its respective principal entitlement allocated pursuant to the Mortgage Loan Documents with respect to the applicable Monthly
Payment Date, which amount shall be applied in reduction of the Note Principal Balance of such Note;

 

(v)          fifth,
if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (i) through (iv) and, as a result of a Workout the Note Principal
Balances of the Senior Notes have been reduced (to the extent such reductions were made in accordance with the Lead Securitization
Servicing Agreement notwithstanding the provisions of Section 4 of this Agreement by reason of the insufficiency of the
Junior Note to bear the full economic effect of the Workout), such excess amount shall be paid to the holders of the Senior Notes
on a Pro Rata and Pari Passu Basis (x) first, in an amount up to the reduction, if any, of the aggregate Note Principal
Balance of the Senior Notes as a result of such Workout, and (y) second, in an amount equal to interest on the amount described
in clause (x) at the Mortgage Loan Interest Rate;

 

(vi)        sixth,
to the holders of the Junior Notes on a Pro Rata and Pari Passu Basis up to the amount of any unreimbursed costs and expenses paid
by such holders of the Junior Notes (or paid or advanced by a Servicer or the Trustee, as applicable) with respect to the Mortgage
Loan pursuant to this Agreement or the Lead Securitization Servicing Agreement;

 

(vii)       seventh,
pro rata based on the Note Principal Balances of their respective Notes, to each holder of a Junior Note in an amount equal
to its respective principal entitlement allocated pursuant to the Mortgage Loan Documents with respect to the applicable Monthly
Payment Date, which amount shall be applied in reduction of the Note Principal Balance of such Note;

 

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(viii)      eighth,
if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (i) through (vii) and, as a result of a Workout the Note Principal
Balances of the Junior Notes have been reduced, such excess amount shall be paid to the holders of the Junior Notes on a Pro Rata
and Pari Passu Basis (x) first, in an amount up to the reduction, if any, of the aggregate Note Principal Balance of the
Junior Notes as a result of such Workout, and (y) second, in an amount equal to interest on the amount described in clause
(x) at the Mortgage Loan Interest Rate;

 

(ix)         ninth,
to the Note Holders, pro rata, based on their respective Percentage Interests, any prepayment or yield maintenance premium,
to the extent paid by the Mortgage Loan Borrower;

 

(x)          tenth,
to the extent assumption fees, transfer fees, late payment fees or charges (other than any prepayment or yield maintenance premium)
actually paid by the Mortgage Loan Borrower are not required to be otherwise applied under the Lead Securitization Servicing Agreement,
including, without limitation, to provide reimbursement for Advance Interest, to pay any additional servicing expenses or to compensate
a Servicer (in each case provided that such reimbursements or payments relate to the Mortgage Loan), any such fees or expenses,
to the extent actually paid by the Mortgage Loan Borrower, shall be paid to the Note Holders, pro rata, based on their respective
Percentage Interests; and

 

(xi)         eleventh,
if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied in accordance with
the foregoing clauses (i) through (x), any remaining amount shall be paid pro rata to the Note Holders in
accordance with their respective Percentage Interests;

 

provided, that
to the extent required under the REMIC Provisions, payments or proceeds received with respect to any partial release of any portion
of the Mortgaged Property (including pursuant to a condemnation) at a time when the loan-to-value ratio of the Mortgage Loan (as
determined in accordance with the applicable REMIC requirements) exceeds 125% (based solely upon the value of the remaining real
property and excluding any personal property or going concern value), shall be allocated to reduce the Note Principal Balances
of the Notes in the manner permitted or required by the REMIC Provisions.

 

(b)           Payments
Following an Event of Default. Payments of interest and principal shall be made to the Note Holders in accordance with Section
3(a) of this Agreement; provided, if a Triggering Event of Default, as determined by the Master Servicer or Special Servicer,
as applicable, in accordance with Accepted Servicing Practices shall have occurred and be continuing, all amounts tendered by the
Mortgage Loan Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage Loan or the
Mortgaged Property or amounts realized as proceeds thereof whether received in the form of Scheduled Interest Payments, Scheduled
Principal Payments, any proceeds from the sale or distribution of any Foreclosed Property, 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

 

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be applied to the restoration or repair of the Mortgaged Property
or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent permitted
by the REMIC Provisions) but excluding (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents
(to the extent and in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows, (y) all amounts
received as reimbursements on account of recoveries in respect of property protection expenses or Property Protection Advances
then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing Agreement (it being
understood that subject to the terms of the Lead Securitization Servicing Agreement and this Agreement, the right to reimbursement
of such Property Protection Advances is senior to that of any Note Holder to receive payments on its Note) and (z) 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 (or, solely as regards P&I Advances and Administrative Advances made thereby and interest thereon, reimbursable
to any Non-Lead Master Servicer or Non-Lead Trustee with respect to the applicable Notes pursuant to the applicable Non-Lead Securitization
Servicing Agreement) and any other additional compensation payable to any Servicer thereunder (including without limitation, any
additional trust expenses relating to the Mortgage Loan (but subject to the second paragraph of Section 5(e) hereof) reimbursable
to, or payable by, such parties and any Special Servicing Fees, Liquidation Fees, Work-out Fees, penalty charges (to the extent
provided in Section 3(d)) (and including any P&I Advances (and interest thereon) or any Administrative Advances (and interest
thereon) on the Notes, which shall be reimbursed in accordance with Section 2(b) hereof and the Lead Securitization Servicing
Agreement), but excluding any Master Servicing Fees and Primary Servicing Fees, which such fees shall not be subject to the allocation
provisions of this Section 3 but shall be payable in accordance with the Lead Securitization Servicing Agreement) shall
be payable as follows:

 

(i)         first,
to the holders of the Senior Trust Notes on a Pro Rata and Pari Passu Basis up to the amount of any unreimbursed costs and expenses
paid by such holders of the Senior Trust Notes (or paid or advanced by a Servicer or the Trustee, as applicable) with respect to
the Mortgage Loan pursuant to this Agreement or the Lead Securitization Servicing Agreement;

 

(ii)         second,
to the holders of the Senior Notes on a Pro Rata and Pari Passu Basis, based on their respective interest entitlements, in each
case in an amount equal to the accrued and unpaid interest on its respective Note Principal Balance at the Net Interest Rate applicable
to such Senior Note;

 

(iii)        third,
to the holders of the Junior Notes on a Pro Rata and Pari Passu Basis, based on their respective interest entitlements, in each
case in an amount equal to the accrued and unpaid interest on its respective Note Principal Balance at the Net Interest Rate applicable
to such Junior Note;

 

(iv)         fourth,
to the holders of the Senior Notes on a Pro Rata and Pari Passu Basis, until the Note Principal Balances of the Senior Notes have
been reduced to zero;

 

(v)          fifth,
if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in

 

     26

     

    

 

accordance with the foregoing clauses (i) through (iv) and, as a result of a Workout the Note Principal
Balances of the Senior Notes have been reduced (to the extent such reductions were made in accordance with the Lead Securitization
Servicing Agreement notwithstanding the provisions of Section 4 of this Agreement by reason of the insufficiency of the
Junior Note to bear the full economic effect of the Workout), such excess amount shall be paid to the holders of the Senior Notes
on a Pro Rata and Pari Passu Basis (x) first, in an amount up to the reduction, if any, of the aggregate Note Principal
Balance of the Senior Notes as a result of such Workout, and (y) second, in an amount equal to interest on the amount described
in clause (x) at the Mortgage Loan Interest Rate;

 

(vi)        sixth,
to the holders of the Junior Notes on a Pro Rata and Pari Passu Basis up to the amount of any unreimbursed costs and expenses paid
by such holders of the Junior Notes (or paid or advanced by a Servicer or the Trustee, as applicable) with respect to the Mortgage
Loan pursuant to this Agreement or the Lead Securitization Servicing Agreement;

 

(vii)       seventh,
to the holders of the Junior Notes on a Pro Rata and Pari Passu Basis, until the Note Principal Balances of the Junior Notes have
been reduced to zero;

 

(viii)      eighth,
if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Mortgaged Property exceed the amounts required
to be applied in accordance with the foregoing clauses (i) through (vii) and, as a result of a Workout the Note Principal
Balances of the Junior Notes have been reduced, such excess amount shall be paid to the holders of the Junior Notes on a Pro Rata
and Pari Passu Basis (x) first, in an amount up to the reduction, if any, of the aggregate Note Principal Balance of the
Junior Notes as a result of such Workout, and (y) second, in an amount equal to interest on the amount described in clause
(x) at the Mortgage Loan Interest Rate;

 

(ix)         ninth,
to the Note Holders, pro rata, based on their respective Percentage Interests, any prepayment or yield maintenance premium,
to the extent paid by the Mortgage Loan Borrower;

 

(x)          tenth,
to the extent assumption fees, transfer fees, late payment fees or charges (other than any prepayment or yield maintenance premium)
actually paid by the Mortgage Loan Borrower are not required to be otherwise applied under the Lead Securitization Servicing Agreement,
including, without limitation, to provide reimbursement for Advance Interest, to pay any additional servicing expenses or to compensate
a Servicer (in each case provided that such reimbursements or payments relate to the Mortgage Loan), any such fees or expenses,
to the extent actually paid by the Mortgage Loan Borrower, shall be paid to the Note Holders, pro rata, based on their respective
Percentage Interests; and

 

(xi)         eleventh,
if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied in accordance with
the foregoing clauses (i) through (x), any remaining amount shall be paid pro rata to the Note Holders in
accordance with their respective Percentage Interests;

 

     27

     

    

 

provided, that
to the extent required under the REMIC Provisions, payments or proceeds received with respect to any partial release of any portion
of the Mortgaged Property (including pursuant to a condemnation) at a time when the loan-to-value ratio of the Mortgage Loan (as
determined in accordance with the applicable REMIC requirements) exceeds 125% (based solely upon the value of the remaining real
property and excluding any personal property or going concern value), shall be allocated to reduce the Note Principal Balances
of the Notes in the manner permitted or required by the REMIC Provisions.

 

(c)       Penalty
charges paid on each Note shall be applied: first, to pay the Master Servicer, the Trustee or the Special Servicer for any
interest accrued on any Property Protection Advances and to reimburse the Master Servicer, the Trustee or the Special Servicer
for any Property Protection Advances (to the extent any such Advance is a Trust Fund Expense) in accordance with the terms of the
Lead Securitization Servicing Agreement; second, 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 or any Administrative 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, to pay Trust Fund Expenses (other than Special Servicing Fees, unpaid Workout
Fees and Liquidation Fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization Servicing Agreement);
and finally, to pay, pro rata, the Lead Securitization Note Holder (or following the securitization of such Note,
the Master Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing
Agreement) and each Non-Lead Securitization Note Holder (or following the securitization of such Note, to the Master Servicer and/or
the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement).

 

(d)           Following
any period during which the terms of Section 3(b) are in effect and a Triggering Event of Default shall cease to exist,
then the terms of Section 3(a) hereof shall again be in effect, subject, however, to the terms of Section 4.

 

(e)           All
expenses and losses relating to the Mortgage Loan and the Mortgaged Property, including without limitation losses of principal
or interest, Property Protection Advances (and Advance Interest related thereto), Special Servicing Fees, Liquidation Fees and
Workout Fees, and certain other trust expenses, as well as Appraisal Reduction Amounts, shall be allocated in Reverse Sequential
Order.

 

Section
4.          Workout. Notwithstanding anything to the contrary
contained herein, if the Special Servicer (on behalf of the Note Holders) in connection with a workout of the Mortgage Loan
modifies the terms thereof such that (i) the unpaid principal balance of the Mortgage Loan is decreased, (ii) the Mortgage
Loan Interest Rate or scheduled amortization payments on such Mortgage Loan are reduced, (iii) payments of interest or
principal on the Mortgage Loan are waived, reduced or deferred or (iv) any other adjustment (other than an increase in
the Mortgage Loan Interest Rate or increase in scheduled amortization payments) is made to any of the terms of the Mortgage
Loan (each, a “Workout”), all payments to the Note Holders of the Senior Notes pursuant to Section
3(a) and Section 3(b), shall be made as though such Workout did not occur, with the payment terms of Senior Notes
remaining the same as they are on the date hereof, and the Junior Notes shall bear the full economic effect of all waivers,

 

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reductions or deferrals of amounts due on the Mortgage Loan attributable to such Workout (such economic effect to be borne by
the Junior Notes on a Pro Rata and Pari Passu Basis, in each case up to the amount otherwise due on such Note including in
connection with the final liquidation or repayment of the Mortgage Loan). Prior to any allocation of collections in
connection with a final liquidation or repayment of the Mortgage Loan any loss or shortfall shall be allocated first
to reduce the Note Principal Balances of the Junior Notes on a Pro Rata and Pari Passu Basis, and second to reduce the
Note Principal Balances of the Senior Notes on a Pro Rata and Pari Passu Basis, with such reduced Note Principal Balances to
be used in calculating Percentage Interests and Pro Rata and Pari Passu Basis, in each case, for remittances of principal on
the Notes. Subject to the Lead Securitization Servicing Agreement and this Agreement, in the case of any modification or
amendment described above, the Special Servicer (on behalf of the Note Holders) shall have the sole authority and ability to
revise the payment provisions set forth in Section 3(a) and Section 3(b) in a manner that reflects the
subordination of the Junior Notes to the Senior Notes with respect to the loss that is the result of such amendment or
modification, including: (i) the ability to increase the Percentage Interests of the Senior Notes and to reduce the
Percentage Interests of the Junior Notes in a manner that reflects a loss in principal as a result of such amendment or
modification; and (ii) the ability to change the Mortgage Loan Interest Rate but shall not be permitted to change the
order of the clauses set forth in Section 3(a) and Section 3(b). Notwithstanding the foregoing concerning the
making of payments as though such a Workout did not occur, if any Workout, modification or amendment of the Mortgage Loan
extends the original maturity date of the Mortgage Loan, for purposes of this paragraph, the Balloon Payment shall be deemed
not to be due on the original maturity date of the Mortgage Loan but shall be deemed due on the extended maturity date of the
Mortgage Loan. If the Mortgaged Property becomes a Foreclosed Property, (a) the Note Holders shall have beneficial ownership
of such Foreclosed Property notwithstanding the manner in which title may be taken under the Lead Securitization Servicing
Agreement, (b) the Mortgage Loan shall be deemed to remain outstanding, with the same terms and conditions as in effect
immediately prior to foreclosure or the acceptance of a deed in lieu of foreclosure, for purposes of the relative rights of
the Note Holders between each other under this Agreement and the Lead Securitization Servicing Agreement and (c) all revenues
from and proceeds of such Foreclosed Property shall be allocated and distributed under Section 3(b) of this Agreement.
The Junior Notes and the right of each Holder of a Junior Note to receive payments with respect to its respective Junior Note
shall, subject to the provisions of this Agreement, at all times be junior, subject and subordinate to each Senior Note and
the rights of each Holder of a Senior Note to receive payments with respect to its respective Senior Note.

 

Section 5.          Administration
of the Mortgage Loan.

 

(a)           Subject
to this Agreement (including but not limited to Section 5(c)) and the Lead Securitization Servicing Agreement and subject to the
rights and consents, where required, of the Controlling Note Holder Representative, the Lead Securitization Note Holder (or the
Master Servicer, the Special Servicer or the Trustee acting on 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

 

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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, each Non-Lead Securitization Note Holder agrees that it shall have no right to, and 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 Accepted Servicing
Practices (in the case of the Master Servicer or the Special Servicer) or any liability for failure to do so).

 

Upon the Mortgage Loan
becoming a defaulted loan, each Non-Lead Securitization Note Holder hereby acknowledges the right and obligation of the Lead Securitization
Note Holder (or the Special Servicer acting on its behalf ) to sell the Notes as notes evidencing one whole loan in accordance
with the terms of the Lead Securitization Servicing Agreement. In connection with any such sale, the Special Servicer shall be
required to sell the Notes in the manner set forth in the Lead Securitization Servicing Agreement and shall be required to require
that all offers be submitted to the Trustee or Special Servicer, as applicable, in accordance with the terms of the Lead Securitization
Servicing Agreement in writing. Whether any cash offer constitutes a fair price for the Mortgage Loan shall be determined by the
Trustee or Special Servicer, as applicable, in accordance with the terms of the Lead Securitization Servicing Agreement. 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 15 Business Days prior written notice of any decision to attempt to sell
the Mortgage Loan; (b) at least 10 days prior to the proposed sale date, a copy of each bid package (together with any amendments
to such bid packages) received by the Special Servicer in connection with any such proposed sale; (c) at least 10 days prior to
the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and any documents in the Servicing File requested
by 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) 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 of the Controlling Note Holder, the Controlling Note Holder Representative,
any Non-Controlling Note Holder and any Non-Controlling Note Holder Representative shall be permitted to submit an offer at any
sale of the Mortgage Loan.

 

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

 

The authority of the
Lead Securitization Note Holder to sell 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(s) are repurchased from the Lead Securitization Trust by the holder of such Lead Securitization Note(s) that sold such Lead
Securitization Note(s) into such securitization trust in connection with a material breach of representation or warranty made by
such Person with respect to the Lead Securitization Note(s) or material document defect with respect to the documents delivered
by such Person with respect to the Lead Securitization Note(s) upon the consummation of the Lead Securitization. The preceding
sentence shall not be construed to grant to any Non-Lead Securitization Note Holder the benefit of any representation or warranty
made by the holder of the Lead Securitization Note(s) that sold such Lead Securitization Note into the Lead Securitization Trust
or any document delivery obligation imposed on such Person under any mortgage loan purchase and sale agreement, instrument of transfer
or other document or instrument that may be executed or delivered by such Person in connection with the Lead Securitization.

 

(b)           The
administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The servicing
of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan
(or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant
to the Lead Securitization Servicing Agreement and this 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 Accepted Servicing Practices, taking into
account the interests of each of the Note Holders as a collective whole and taking into account the subordinate nature of the Junior
Notes. 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, the Trustee and/or the Controlling Class Representative 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 materially adversely affect any Non-Lead Securitization Note Holder in its capacity as Non-Lead Securitization
Note Holder without such

 

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Non-Lead Securitization Note Holder’s prior written consent. Each Non-Lead Securitization Note Holder
(unless it is Mortgage Loan 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)           [Reserved].

 

(d)           Notwithstanding
the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall
be required (i) to provide reasonable prior notice to each Non-Lead Securitization Note Holder (or its Note Holder Representative)
of the implementation of any Major Decision or any recommended actions outlined in an Asset Status Report relating to the Mortgage
Loan and (ii) to use reasonable efforts to consult each Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative)
on a strictly non-binding basis if such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) requests
consultation with respect to any Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report
provided to investors in the Lead Securitization relating to the Mortgage Loan, and consider alternative actions recommended by
such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative); provided that after the expiration
of a period of ten (10) Business Days from the delivery to such Non-Controlling Note Holder (or its Non-Controlling Note Holder
Representative) by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) of
written notice of a proposed action, together with copies of the notice, information and report provided to the Controlling Class
Representative (or that would have been provided to the Controlling Class Representative if it had not lost its consent and/or
consultation rights with respect to the matter), the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer
acting on its behalf) shall no longer be obligated to consult 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 take any Major Decision or any action set forth in the Asset Status Report before the expiration
of the aforementioned ten (10) Business Day period if the Lead Securitization Note Holder (or Master Servicer or Special Servicer,
as applicable) determines that immediate action with respect thereto is necessary to protect the interests of the Note Holders.
In no event shall the Lead Securitization Note Holder (or Master Servicer or Special Servicer, acting on its behalf) be obligated
at any time to follow or take any alternative actions recommended by 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 an annual meeting (which may be held telephonically) with the Lead Securitization Note Holder (or the Master Servicer or

 

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the
Special Servicer acting on its behalf), upon reasonable notice and at times reasonably acceptable to the Master Servicer or the
Special Servicer, as applicable, in which servicing issues related to the Mortgage Loan are discussed.

 

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

 

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

 

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

 

(a)     
     The Controlling Note Holder shall have the right at any time to appoint a representative in connection with
the exercise of its rights and obligations with respect to the Mortgage Loan (the “Controlling Note Holder
Representative”). The Controlling Note Holder shall have the right in its sole discretion at any time and from time
to time to remove and replace the Controlling Note Holder Representative in accordance with the terms of the Lead
Securitization Servicing Agreement. 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

 

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through the Controlling Note Holder Representative. The
Controlling Note Holder Representative may be any Person (other than a Mortgage Loan Borrower Party, any manager of the
Mortgaged Property or any principal or any manager of the Mortgaged Property), 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, Trustee or Certificate Administrator 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, the Trustee and the Certificate Administrator 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, the Trustee and the Certificate Administrator with written confirmation of its acceptance of such
appointment, an address and facsimile number for the delivery of notices and other correspondence and a list of officers or
employees of such Person with whom the parties to this Agreement may deal (including their names, titles, work addresses and
facsimile numbers). The Controlling Note Holder shall promptly deliver such information to each Servicer, the Trustee and the
Certificate Administrator. The Controlling Note Holder agrees to inform each such Servicer, Certificate Administrator or
Trustee of the then-current Controlling Note Holder Representative.

 

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

 

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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; 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 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.

 

(c)           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 (each, a “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) and Section 6(b) shall apply to each Non-Controlling Note Holder and its Non-Controlling Note Holder Representative
mutatis mutandis.

 

Section
7.          Appointment of Special Servicer. Subject to the next
succeeding paragraph, the Controlling Note Holder (or its Controlling Note Holder Representative) shall have the right at any
time and from time to time, with or without cause, to replace the Special Servicer then acting with respect to the Mortgage
Loan and appoint a replacement Special Servicer with the Required Special Servicer Rating. Any designation by the Controlling
Note Holder (or its Controlling Note Holder Representative) of a Person to serve as Special Servicer shall be made by
delivering to each other Note Holder, the Master Servicer, the then existing Special Servicer and 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, if any, 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 adversely 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 pursuant
to and in accordance with the terms of the Lead Securitization Servicing Agreement. Each Note Holder acknowledges and agrees that
any successor special servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that was terminated
for cause at 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

 

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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.

 

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 pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder (or
the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within one (1) Business Day after
receipt of properly identified and available funds by the Lead Securitization Note Holder (or the Master Servicer acting on its
behalf) from or on behalf of the Mortgage Loan Borrower.

 

(b)          If
the Lead Securitization Note Holder determines, or a court of competent jurisdiction orders, at any time that any amount received
or collected in respect of any Note must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar
law, be returned to the Mortgage Loan Borrower or paid to any Lead Securitization Note Holder or any Servicer or paid to any other
Person, then, notwithstanding any other provision of this Agreement, a 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 any Non-Lead Securitization Note Holder before the Lead
Securitization Note Holder has received the corresponding payment (it being understood that the Lead Securitization Note Holder
is under no obligation to do so), and the Lead Securitization Note Holder does not receive the corresponding payment within five
(5) Business Days of its payment to such Non-Lead Securitization Note Holder, such Non-Lead Securitization Note Holder shall, at
the Lead Securitization Note Holder’s request, promptly return that payment to the Lead Securitization Note Holder.

 

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

 

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Note Holder’s obligations
under this Section 8 constitute absolute, unconditional and continuing obligations.

 

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

 

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, Accepted Servicing Practices, 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 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 Accepted Servicing Practices.

 

Section
10.       Bankruptcy. Subject to Section 5(c), each Note Holder hereby covenants and agrees that only the Lead
Securitization Note Holder has the right to institute, file, commence, acquiesce, petition under Bankruptcy Code Section 303
or otherwise or join any Person in any such petition or otherwise invoke or cause any other Person to invoke an Insolvency
Proceeding with respect to or against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee,
trustee, custodian, sequestrator or other similar official with respect to the Mortgage Loan Borrower or all or any part of
its property or assets or ordering the winding-up or liquidation of the affairs of the Mortgage Loan Borrower. Each Note
Holder further agrees that only the Lead Securitization Note Holder, and not the Non-Lead Securitization Note Holders, can
make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application or take
any other action in any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency
Proceeding. The Note Holders hereby appoint the Lead Securitization Note Holder as their agent, and grant to the Lead
Securitization Note Holder an irrevocable power of attorney coupled with an interest, and their proxy, for the purpose of
exercising any and all rights and taking any and all actions available to the Non-Lead Securitization Note Holders in
connection with any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency
Proceeding, including, without limitation, the right to file and/or prosecute any claim, vote to accept or reject a plan, to
make any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage Loan, and to file a motion to
modify, lift or terminate the automatic stay with respect to the Mortgage Loan. The Note Holders hereby agree that, upon the
request of the Lead Securitization Note Holder, 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

 

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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 Accepted Servicing Practices.

 

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 in the jurisdiction of its organization 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. No Note Holder shall have any obligation whatsoever to offer to any
other Note Holder the opportunity to purchase a participation interest in any future loans originated by such Note Holder or
its Affiliates and if any Note Holder chooses to offer to any other Note Holder the opportunity to purchase a participation
interest in any future mortgage loans originated by such Note Holder or its Affiliates, such offer shall be at such purchase
price and interest rate as such Note Holder chooses, in its sole and absolute discretion. No Note Holder shall have any
obligation whatsoever to purchase from any other Note Holder a participation interest in any future loans originated by such
Note Holder or its Affiliates.

 

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

 

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Section 14.        Sale
of the Notes.

 

(a)           Each
Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate, participate, hypothecate, contribute, encumber or
otherwise dispose (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other similar agreement,
excluding a repo financing or a Pledge in accordance with Section 14(d)) of a Note (a “Transfer”) except to
a Qualified Institutional Lender. 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 to an entity that constitutes a Qualified Institutional Lender pursuant to clause (c)(iii)
of the definition thereof (and the related pooling and servicing agreement or similar agreement requires the parties thereto to
comply with this Agreement) or 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 any such non-transferring Note Holder’s Note is held in a Securitization Trust, provide each of the applicable engaged
Rating Agencies for such Securitization Trust with a Rating Agency Communication. 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, until a Rating Agency Communication is provided to 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 a Mortgage Loan
Borrower 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 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 Communication, to Transfer 49% or less (in the aggregate) of its Note or any beneficial interest in
its Note. None of the provisions of this Section 14(a) shall apply in the case of (1) a sale of all of the Notes in accordance
with the terms and conditions of the Lead Securitization Servicing Agreement or (2) a transfer by the Special Servicer, in accordance
with the terms and conditions of the Lead Securitization Servicing Agreement, of the Mortgage Loan or the Mortgaged Property, upon
the Mortgage Loan becoming a defaulted 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

 

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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 Mortgage
Loan 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
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 and accept any cure thereof by such Note Pledgee which such
pledging Note Holder has the right (but not the obligation) to effect hereunder, as if such cure were made by such pledging Note
Holder; (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 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 (v) 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. 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 Mortgage Loan Borrower Party which is also a Qualified Institutional
Lender at any foreclosure or similar sale held by such Note Pledgee or

 

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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 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 Initial Agent shall serve
as the initial note registrar and the Initial Agent hereby accepts such appointment. The names and addresses of the Note
Holders 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

 

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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.

 

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

 

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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 may be defective or inconsistent with any other provisions herein or with
the Lead Securitization Servicing Agreement or (ii) to make other provisions with respect to matters or questions arising
under this Agreement, which shall not be inconsistent with the provisions of this Agreement including without limitation in
connection with the creation of New Notes pursuant to Section 31.

 

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 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
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.

 

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

 

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

 

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

 

(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 to 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 

 

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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), 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 a 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.

 

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

 

Section 26.        Cooperation
in Securitization.

 

(a)           Each
Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization. In connection
with a Securitization and subject to the terms of the preceding sentence, at the request of the 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

 

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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 reasonable requests of each Rating Agency and such Securitizing Note Holder in connection with such Securitization (including,
without limitation, reasonably cooperating with 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 27.        Notices.
All notices required hereunder shall be given by (i) 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), (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.

 

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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;

 

(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.        Resignation
of Agent.

 

(a)           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. MSBNA, 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 MSBNA 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.

 

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Section
31.        Resizing. Notwithstanding any other provision of this Agreement, for so long as an Initial Note Holder or an
affiliate thereof (an “Original Entity”) is the owner of a Note (each, an “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 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 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,
Senior Notes and Junior Notes continue to have the same weighted average interest rate as the Notes, Senior Notes and Junior
Notes, respectively, prior to such amendments, (iii) all Senior Notes pay on a Pro Rata and Pari Passu Basis (to the extent
set forth in Section 3), all Junior Notes pay on a Pro Rata and Pari Passu Basis (to the extent set forth in Section 3) and
such reallocated or component notes shall be automatically subject to the terms of this Agreement, and (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. 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 holders of the other
Notes. In connection with the foregoing (provided the conditions set forth in (i) through (v) above are satisfied and, with
respect to the conditions set forth in (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 and if a Note is severed into more than one New Note, each New Note shall have the same rights
as the respective original Note and each New Note shall be a “Note” hereunder and for purposes of adding and
modifying any definitions related thereto. If more than one New Note is created hereunder, for purposes of exercising the
rights of a Controlling Note Holder or Non-Controlling Note Holder, as applicable, 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.

 

Section 32.        Not
a Security. No Note shall be deemed to be a security within the meaning of the Act or the Exchange Act.

 

[SIGNATURE PAGE FOLLOWS]

 

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

  

	 	MORGAN STANLEY BANK, N.A., as Initial Note A-1 Holder and Initial Note B-1 Holder
	 	 	 
	 	By:	/s/ Kristin Sansone
	 	 	Name: Kristin Sansone
	 	 	Title:   Executive Director

 

	 	DEUTSCHE
    BANK AG, acting through its New York Branch, as Initial Note A-2 Holder and Initial Note B-2 Holder
	 	 	 
	 	By:	/s/ MATT
    SMITH
	 	 	Name: MATT
    SMITH
	 	 	Title:   Director
	 	 	 
	 	By:	/s/ NATALIE
    D. GRAINGER
	 	 	Name: NATALIE
    D. GRAINGER
	 	 	Title:   Director

 

	 	CITIGROUP GLOBAL MARKETS
REALTY CORP., as Initial Note A-3 Holder and Initial Note B-3 Holder
	 	 	 
	 	By:	/s/
    Richard W. Simpson
	 	 	Name: Richard W. Simpson
	 	 	Title:   Authorized Signatory

 

BXP 2017-GM -
Co-Lender Agreement 

 

     

     

    

 

	 	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Initial Note A-4 Holder and Initial Note B-4 Holder
	 	 	 
	 	By:	/s/
    Jeffrey L. Cirillo
	 	 	Name: Jeffrey L. Cirillo
	 	 	Title: Managing Director

 

	 	CANTOR COMMERCIAL REAL ESTATE
LENDING, L.P., as Initial CCRE Note Holder
	 	 	 
	 	By:	/s/
    Gary Stellato
	 	 	Name: Gary Stellato
	 	 	Title: Secretary

 

BXP 2017-GM -
Co-Lender Agreement (CCRE)

 

     

     

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan

 

	Mortgage Loan Borrower:	767 Fifth Partners LLC
	Date of Mortgage Loan:	June 7, 2017
	Date of Notes:	June 7, 2017
	Original Principal Amount of Mortgage Loan:	$2,300,000,000
	Principal Amount of Mortgage Loan as of the date hereof:	$2,300,000,000
	Location of Mortgaged Property:	767 Fifth Avenue

New York, New York 10153
	Initial Maturity Date:	June 9, 2027

 

    A-1

     

    

 

Promissory Notes

 

	Note	Interest Rate	Initial Note 

Principal Balance	Initial Owner
	Note A-1-S	3.43%	$176,800,000	Initial Note A-1 Holder
	Note A-1-C1	3.43%	$69,700,000	Initial Note A-1 Holder
	Note A-1-C2	3.43%	$37,500,000	Initial Note A-1 Holder
	Note A-1-C3	3.43%	$37,500,000	Initial Note A-1 Holder
	Note A-1-C4	3.43%	$74,400,000	Initial Note A-1 Holder
	Note A-1-A1	3.43%	$28,900,000	Initial CCRE Note Holder
	Note A-1-A2	3.43%	$37,500,000	Initial Note A-1 Holder
	Note A-1-A3	3.43%	$37,500,000	Initial Note A-1 Holder
	Note A-2-S	3.43%	$114,400,000	Initial Note A-2 Holder
	Note A-2-C1	3.43%	$45,100,000	Initial Note A-2 Holder
	Note A-2-C2	3.43%	$75,000,000	Initial Note A-2 Holder
	Note A-2-C3	3.43%	$30,000,000	Initial Note A-2 Holder
	Note A-2-A1	3.43%	$18,700,000	Initial CCRE Note Holder
	Note A-2-A2	3.43%	$10,200,000	Initial Note A-2 Holder
	Note A-2-A3	3.43%	$30,000,000	Initial Note A-2 Holder
	Note A-3-S	3.43%	$114,400,000	Initial Note A-3 Holder
	Note A-3-C1	3.43%	$45,100,000	Initial Note A-3 Holder
	Note A-3-C2	3.43%	$37,500,000	Initial Note A-3 Holder
	Note A-3-C3	3.43%	$37,500,000	Initial Note A-3 Holder
	Note A-3-A1	3.43%	$18,700,000	Initial CCRE Note Holder
	Note A-3-A2	3.43%	$37,500,000	Initial Note A-3 Holder
	Note A-3-A3	3.43%	$32,700,000	Initial Note A-3 Holder
	Note A-4-S	3.43%	$114,400,000	Initial Note A-4 Holder
	Note A-4-C1	3.43%	$45,100,000	Initial Note A-4 Holder
	Note A-4-C2	3.43%	$37,500,000	Initial Note A-4 Holder
	Note A-4-C3	3.43%	$32,400,000	Initial Note A-4 Holder
	Note A-4-A1	3.43%	$18,700,000	Initial CCRE Note Holder
	Note A-4-A2	3.43%	$45,100,000	Initial Note A-4 Holder
	Note A-4-A3	3.43%	$30,200,000	Initial Note A-4 Holder
	Note B-1-S	3.43%	$282,200,000	Initial Note B-1 Holder
	Note B-2-S	3.43%	$182,600,000	Initial Note B-2 Holder
	Note B-3-S	3.43%	$182,600,000	Initial Note B-3 Holder
	Note B-4-S	3.43%	$182,600,000	Initial Note B-4 Holder

 

    A-2

     

    

 

EXHIBIT B

 

1.       Initial Note
A-1 Holder and Initial Note B-1 Holder:

 

Morgan Stanley Bank, N.A.

Notice Address:

Morgan Stanley Bank, N.A.

1585 Broadway

New York, New York 10036

Attention: Jane Lam

 

with copies to:

 

Morgan Stanley Bank, N.A.

1221 Avenue of the Americas

New York, New York 10020

Attention: Legal Compliance Division

 

cmbs_notices@morganstanley.com

 

2.       Initial Note
A-2 Holder and Initial Note B-2 Holder:

Deutsche Bank AG, acting through its New York Branch

Notice Address:

Deutsche Bank AG, acting through its New York Branch

60 Wall Street

New York, New York 10005

Attention: Robert Pettinato

E-mail: Robert.Pettinato@db.com

 

with a copy to:

 

Deutsch Bank AG, acting through its New York Branch

60 Wall Street

New York, New York 10005

Attention: General Counsel

 

3.       Initial Note
A-3 Holder and Initial Note B-3 Holder:

Citigroup Global Markets Realty Corp.

Notice Address:

Citigroup Global Markets Realty Corp.

390 Greenwich Street, 7th Floor

 

    B-1

     

    

 

New York, New York 10013

Attention: Ana Rosu Marmann

 

with copies to:

 

Citigroup Global Markets Realty Corp.

390 Greenwich Street, 5th Floor

New York, New York 10013

Attention: Paul Vanderslice

E-mail: paul.t.vanderslice@citi.com

 

Citigroup Global Markets Realty Corp.

390 Greenwich Street, 7th Floor

New York, New York 10013

Attention: Richard Simpson

E-mail: richard.simpson@citi.com

 

Ryan M. O’Connor

 

E-mail: ryan.m.oconnor@citi.com

 

4.       Initial Note
A-4 Holder and Initial Note B-4 Holder:

Wells Fargo Bank, National Association

Notice Address:

 

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

 

5. Initial CCRE Note Holder:

Cantor Commercial Real Estate Lending, L.P.

 

Notice Address:

 

    B-2

     

    

 

Cantor Commercial Real Estate Lending, L.P.

110 East 59th Street, 6th Floor

New York, New York 10022

Attention: Legal Department

Email: legal@ccre.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Lisa Pauquette, Esq.

Facsimile No.: (212) 504-6666

Email: lisa.pauquette@cwt.com

 

    B-3

     

    

 

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 Advisors 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

 

    C-1

     

    

 

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

 

    C-2Exhibit 4.12

 

	 

 

Marketplace at Four Corners

 

CO-LENDER AGREEMENT

 

Dated as of December 13, 2017

 

between

 

CANTOR COMMERCIAL REAL ESTATE LENDING,
L.P.

(Note A-1 Holder)

 

and

 

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

 

(Note A-2 Holder)

 

	 

    

     

    

 

TABLE OF CONTENTS

 

Page

 

	1.	Definitions; Conflicts	2
	2.	Servicing of the Mortgage Loan	11
	3.	Priority of Notes	13
	4.	Workout	14
	5.	Accounts; Payment Procedure	14
	6.	Limitation on Liability	15
	7.	Representations of the Holders	15
	8.	Independent Analyses of each Holder	16
	9.	No Creation of a Partnership or Exclusive Purchase Right	16
	10.	Not a Security	16
	11.	Other Business Activities of the Holders	16
	12.	Transfer of Notes	17
	13.	Exercise of Remedies by the Servicer	19
	14.	Rights of the Directing Holder	21
	15.	Appointment of Special Servicer	22
	16.	Rights of the Non-Directing Holders	22
	17.	Advances; Reimbursement of Advances	23
	18.	Provisions Relating to Securitization	24
	19.	Governing Law; Waiver of Jury Trial	29
	20.	Modifications	29
	21.	Successors and Assigns; Third Party Beneficiaries	30
	22.	Counterparts	30
	23.	Captions	30
	24.	Notices	30
	25.	Custody of Mortgage Loan Documents	30

 

    -i-

     

    

 

THIS CO-LENDER AGREEMENT
(the “Agreement”), dated as of December 13, 2017, is between CANTOR COMMERCIAL REAL ESTATE LENDING, L.P., a
Delaware limited partnership (“CCRE”), as the holder of Note A-1, and UBS AG, by and through its branch office
at 1285 Avenue of the Americas, New York, New York (“UBS”), as the holder of Note A-2.

 

W I T N E S S E T H:

 

WHEREAS, CCRE made a
mortgage loan in the original principal amount of $42,000,000 (the “Mortgage Loan”) to Four Corners Shopping
Center, LLC, a Delaware limited liability company (the “Borrower”) pursuant to a loan agreement between the
Borrower, as borrower, and CCRE, as lender, dated as of November 9, 2017 (the “Loan Agreement”);

 

WHEREAS, the Mortgage
Loan is evidenced by two notes, Promissory Note A-1 in the original principal amount of $25,000,000 (“Note A-1”) and
Promissory Note A-2 (“Note A-2”) in the original principal amount of $17,000,000 (each, a “Note”
and collectively the “Notes”);

 

WHEREAS, on or about
November 9, 2017, UBS purchased Note A-2 from CCRE pursuant to a Note Purchase and Servicing Agreement between UBS and CCRE;

 

WHEREAS, the Mortgage
Loan is secured by a first mortgage lien (the “Mortgage”) on the real property known as Marketplace at Four
Corners (the “Mortgaged Property”);

 

WHEREAS, CCRE intends
(but is not bound) to sell, transfer and assign its right, title and interest in and to all or a portion of Note A-1 to one or
more depositors who will in turn sell, transfer and assign the same to one or more trusts as part of the securitization of one
or more mortgage loans (such sales, transfers and assignments, the “Note A-1 Securitization”);

 

WHEREAS, UBS intends
(but is not bound) to sell, transfer and assign its right, title and interest in and to all or a portion of Note A-2 to one or
more depositors who will in turn sell, transfer and assign the same to one or more trusts as part of the securitization of one
or more mortgage loans (such sales, transfers and assignments, the “Note A-2 Securitization”);

 

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

 

NOW, THEREFORE, in consideration
of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties hereto mutually agree as follows:

 

1.         Definitions;
Conflicts. References to a “Section” or the “recitals” are, unless otherwise specified, to a
Section or the recitals of this Agreement. Capitalized terms used

 

    

     

    

 

but not otherwise defined herein shall have the meanings ascribed thereto in the Servicing Agreement. To the extent of any
inconsistency between this Agreement and the Servicing Agreement, the terms of this Agreement shall control. 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 assigned to such term or analogous term in the Servicing Agreement.

 

“Advance”
shall mean any P&I Advance or Property Advance made with respect to any of the Notes, the Mortgage Loan or the Mortgaged Property
pursuant to any PSA.

 

“Affiliate”
shall mean with respect to any specified Person, any other Person controlling or controlled by or under common control with such
specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means
the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise, and the terms “controlling” and “controlled” have meanings correlative
to the foregoing.

 

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

 

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

 

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

 

“Borrower Party
Affiliate”: With respect to a borrower, a mortgagor, a manager of a Mortgaged Property or a restricted mezzanine holder,
(a) any other person controlling or controlled by or under common control with such borrower, mortgagor, manager or restricted
mezzanine holder, as applicable, (b) any other person owning, directly or indirectly, 25% or more of the beneficial interests in
such borrower, mortgagor or manager, as applicable, or (c) any other person owning, directly or indirectly, 25% or more of the
beneficial interests in such restricted mezzanine holder. For the purposes of this definition, “control” when used
with respect to any specified person means the power to direct the management and policies of such person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled”
have meanings correlative to the foregoing.

 

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

 

“CCRE”
shall mean Cantor Commercial Real Estate Lending, L.P. and its successors in interest.

 

“CLO Asset Manager”
shall mean, with respect to any Securitization Vehicle that is a CLO, the entity that is responsible for managing or administering
the underlying assets of such Securitization Vehicle or, if applicable, the assets of any Intervening Trust Vehicle (including,

 

    -2-

     

    

 

without limitation, the right to exercise any consent and control rights available to the Directing Holder).

 

“Certificates”
shall mean any securities issued in connection with a Securitization.

 

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

 

“Collection
Account” shall mean the “collection account” or sub-account thereof, established under the Servicing Agreement
for the purpose of servicing the Mortgage Loan.

 

“Commission”
shall have the meaning set forth in Section 18(d)(v).

 

“Consultation
Termination Event” shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

 

“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. The terms “controlled
by,” “controlling” and “under common control with” shall have the respective correlative meaning
thereto.

 

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

 

“Defaulted Mortgage
Loan” shall mean the Mortgage Loan in the event that the Mortgage Loan is delinquent at least 60 days in respect of its
Monthly Payments or more than 60 days in respect of its balloon payment, in either case to be determined without giving effect
to any grace period permitted by the Mortgage Loan Documents and without regard to any acceleration of payments under the Mortgage
Loan Documents.

 

“Depositor”
shall mean, with respect to any Securitization, the depositor under the related PSA.

 

“Designated
Holder” shall mean the Holder of Note A-1.

 

“Directing Holder”
shall mean the Note A-1 Holder, or if Note A-1 is included in a Securitization, the holders of Certificates in the Note A-1 Securitization
representing the specified interest in the class of Certificates designated as the “controlling class” therein or the
duly appointed representative of the holders of such Certificates or such other party that the Note A-1 Holder grants the right
to exercise the rights granted to the Directing Holder in this Agreement; provided, that no Borrower, property manager or
Borrower Party Affiliate thereof shall be entitled to act as Directing Holder.

 

“Event of Default”
shall mean an “Event of Default” as defined in the Loan Agreement.

 

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

 

    -3-

     

    

 

“Excluded Amounts”
shall mean:

 

(i)           proceeds,
awards or settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Borrower in accordance
with the terms of the Mortgage Loan Documents;

 

(ii)          amounts
required to be deposited in reserve or escrow pursuant to the Mortgage Loan Documents; and

 

(iii)         amounts
that are then due and payable pursuant to the Servicing Agreement to the parties to the Servicing Agreement, including, without
limitation, Servicing Fees, Special Servicing Fees, Liquidation Fees, Workout Fees, as applicable, reimbursement of costs and expenses,
reimbursement of Property Advances and interest thereon at the Reimbursement Rate;

 

but shall not include (A) any amounts received
in respect of any P&I Advances (and interest thereon), (B) any Servicing Fees due to the Master Servicer in excess of the Servicing
Fee calculated at the “primary servicing fee rate” set forth in the Servicing Agreement and (C) any trustee fees.

 

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

 

“Holder”
or “Note Holder” shall mean the Note A-1 Holder and/or the Note A-2 Holder, as the context indicates.

 

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

 

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

 

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

 

“Lead Note Holder”
shall mean the Holder of the Lead Note(s).

 

“Lead Securitization”
shall mean, (a) prior to the Securitization of Note A-1, the first Securitization of any Non-Lead Note or portion thereof, and
(b) on and after the Securitization of Note A-1, the Note A-1 Securitization.

 

“Lead Securitization PSA”
shall mean the PSA of the Lead Securitization.

 

“Lead Securitization
Trust” shall mean the trust established under the Lead Securitization PSA.

 

“Lead Servicer”
shall mean the master servicer designated under the Lead Securitization PSA.

 

    -4-

     

    

 

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

 

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

 

“Major Action”
shall have the meaning assigned to the term “Material Action,” “Major Action,” “Major Decision”
or any equivalent term in the Servicing Agreement.

 

“Master Servicer”
shall mean the master servicer under the Servicing Agreement and any successor thereunder.

 

“Master Servicer
Remittance Date” shall mean:

 

(i)           (a)
during the period after the securitization of Note A-2 and prior to the securitization of Note A-1, the “Master Servicer
Remittance Date” (or analogous term) as defined in the Servicing Agreement, and (b) on or after the securitization of Note
A-1, with respect to Note A-1, the “Master Servicer Remittance Date” (or analogous term) as defined in the Servicing
Agreement; and

 

(ii)          with
respect to Note A-2, (a) prior to the securitization of Note A-1, the “Master Servicer Remittance Date” (or analogous
term) as defined in the Servicing Agreement, and (b) on or after the securitization of Note A-1, the first Business Day after the
“determination date,” as such term or a similar term is defined in the Note A-2 PSA; provided, however, that
such date is at least one Business Day after the scheduled monthly payment date with respect to the Mortgage Loan.

 

For the avoidance of
doubt, any late collections received by the Master Servicer after the related due date under the Mortgage Loan shall be remitted
by the Master Servicer in accordance with Section 18(d)(vii) below.

 

“Maturity
Date” shall have the meaning assigned to such term in Exhibit A.

 

“Monthly Payment”
with respect to any period shall mean all amounts due and payable to any Holder or Holders during such period in accordance with
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 Interest
Rate” shall mean the Mortgage Interest Rate set forth in the Mortgage Loan Schedule with respect to each Note.

 

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

 

    -5-

     

    

 

“Mortgage Loan
Documents” shall mean the Mortgage, the Loan Agreement, the Notes, and all other documents evidencing or securing the
Mortgage Loan.

 

“Mortgage Loan
Principal Balance” shall mean, at any date of determination, the aggregate principal balance of the Notes evidencing
the Mortgage Loan.

 

“Mortgage Loan
Schedule” shall mean the schedule in the form attached hereto as Exhibit A, which schedule sets forth certain
information regarding the Mortgage Loan and the Notes.

 

“Mortgage Loan
Seller” shall mean any Note Holder that deposits all or a portion of a Note into a securitization.

 

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

 

“Non-Directing
Holders” shall mean the holders of all or a portion of any Note other than Note A-1, or if all or a portion of a Note
is included in a Securitization, the holders of Certificates representing the specified interest in the class of Certificates designated
as the “controlling class” or the duly appointed representative of the holders of such Certificates or such other party
otherwise entitled under the applicable PSA to exercise the rights granted to the Non-Directing Holders in this Agreement.

 

“Non-Lead Master
Servicer” shall mean, with respect to the Non-Lead Note, the master servicer under the related PSA.

 

“Non-Lead Note”
shall mean each of the Notes other than a Lead Note.

 

“Non-Lead Note
Holders” shall mean the holders of the Non-Lead Notes.

 

“Non-Lead Securitization”
shall mean, at any time, each Securitization that is not then the Lead Securitization.

 

“Non-Lead Servicing
Agreement” shall mean a PSA with respect to any Non-Lead Note.

 

“Nonrecoverable
Advance” shall have the meaning ascribed to such term in the Servicing Agreement.

 

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

 

“Note A-1 Holder”
shall mean CCRE or any subsequent holder of Note A-1.

 

“Note A-1 Principal
Balance” shall mean at any time of determination, the initial Note A-1 Principal Balance as set forth in the Mortgage
Loan Schedule less any payments of principal thereon received by the Note A-1 Holder and any reductions in such amount pursuant
to Section 4.

 

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

 

    -6-

     

    

 

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

 

“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 UBS or any subsequent holder of Note A-2.

 

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

 

“Note A-2 Principal
Balance” shall mean, at any time of determination, the initial Note A-2 Principal Balance as set forth in the Mortgage
Loan Schedule, less any payments of principal thereon received by the Note A-2 Holder and any reductions in such amount pursuant
to Section 4.

 

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

 

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

 

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

 

“P&I Advance”
shall mean an advance made by a party to any PSA with respect to a delinquent monthly debt service payment on the Notes included
in the related Securitization.

 

“Penalty Charges”
shall mean any amounts collected from the Borrower that represent default charges, penalty charges, late fees and/or default interest,
but excluding any yield maintenance charge or prepayment premium.

 

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

 

“Person”
shall mean any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company,
trust, unincorporated organization or government or any agency or political subdivision thereof.

 

“Property Advance”
shall mean an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the
security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

 

    -7-

     

    

 

“Pro Rata and
Pari Passu Basis” shall mean with respect to the Notes and each Holder, (i) for purposes of allocating payments of interest
among the Notes, each Note or Holder, as the case may be, is allocated its respective pro rata share based on the interest accrued
on such Note at the respective Mortgage Interest Rate of such Note based on the outstanding principal balance of such Note and
(ii) for all other purposes, the allocation of any particular payment, collection, cost, expense, liability or other amount between
such Notes or such Holders, as the case may be, without any priority of any such Note or any such Holder over another Note or Holder,
as the case may be, and in any event such that each Note or Holder, as the case may be, is allocated its respective pro rata share
based on the outstanding principal balance of its Note in relation to the outstanding principal balance of the entire Mortgage
Loan of such particular payment, collection, cost, expense, liability or other amount.

 

“PSA”
means any of the Note A-1 PSA and the Note A-2 PSA.

 

“Qualified Servicer”
shall mean any nationally recognized commercial mortgage loan servicer (1) rated at least “CSS3,” in the case of a
special servicer, or at least “CMS2,” in the case of a master servicer, by Fitch, (2) on the S&P Select Servicer
List as a U.S. Commercial Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable, (3) as to which
neither Moody’s nor KBRA has cited servicing concerns of such 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 any CMBS transaction rated by Moody’s or KBRA, as applicable, and serviced by such servicer prior to the
time of determination, (4) that (i) is then acting as master servicer or special servicer, as applicable, in a commercial mortgage
loan securitization rated by Morningstar and (ii) Morningstar has not qualified, downgraded or withdrawn the then-current rating
or ratings of one or more classes of such certificates citing servicing concerns with the servicer or special servicer, as applicable,
as the sole or material factor in such rating action and (5) in the case of DBRS, such servicer is then acting as servicer or special
servicer, as applicable, in a commercial mortgage loan securitization rated by DBRS and DBRS has not downgraded or withdrawn the
then-current rating on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch
citing the continuation of such servicer as servicer or special servicer, as applicable, of such commercial mortgage securities
as a material reason for such downgrade or withdrawal. For purposes of this definition, for so long as any Note is included in
a Securitization, the ratings or actions of any Rating Agency that is not rating any such Securitization(s) shall not be considered.

 

“Qualified Transferee”
shall mean any Holder of a Note (or an Affiliate of any such entity) or one or more of the following (other than a Borrower or
any entity which is a Borrower Party Affiliate):

 

(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 or 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

 

    -8-

     

    

 

1933, as amended, which regularly engages in the business of making or owning investments of types similar
to the Mortgage Loan; or

 

(iii)         an
institution substantially similar to any of the foregoing entities described in clauses (i) or (ii) above; or

 

(iv)         any
entity Controlled by or under common Control or Controlling any of the entities described in clauses (i), (ii) or (iii) above;
or

 

(v)          a
Qualified Trustee (or, in the case of a CLO, a single purpose bankruptcy-remote entity that contemporaneously pledges its interest
in a Note to a Qualified Trustee) in connection with (A) a securitization of, (B) the creation of collateralized loan obligations
(“CLO”) secured by, or (C) a financing through an “owner trust” of, any interest in a Note (any
of the foregoing, a “Securitization Vehicle”), provided that either (1) one or more classes of securities
issued by such Securitization Vehicle is initially rated at least investment grade by at least two of the Rating Agencies that
also assigned a rating to one or more classes of securities issued in connection with the Securitization of a Note; (2) the special
servicer for the Securitization Vehicle is a Qualified Servicer at the time of transfer; or (3) in the case of a Securitization
Vehicle that is a CLO, the CLO Asset Manager and, if applicable, each Intervening Trust Vehicle that is not administered and managed
by a CLO Asset Manager that is a Qualified Transferee, is a Qualified Transferee under clause (i), (ii), (iii) or (iv) of this
definition; or

 

(vi)         an
investment fund, limited liability company, limited partnership or general partnership in which a Permitted Fund Manager acts as
the general partner, managing member, or the fund manager responsible for the day to day management and operation of such investment
vehicle, provided that greater than fifty percent (50%) of the equity interests in such investment vehicle are owned, directly
or indirectly, by one or more entities that are otherwise Qualified Transferees,

 

which, in the case of each of clauses (i),
(ii), and (iii) of this definition, has at least $650,000,000 in total assets (in name or under management) and (except with respect
to a pension advisory firm or similar fiduciary) at least $250,000,000 in capital/statutory surplus or shareholders’ equity,
and is regularly engaged in the business of making or owning commercial real estate loans or commercial loans similar to the Mortgage
Loan.

 

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

 

    -9-

     

    

 

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

 

“Rating Agency
Confirmation” shall mean each of the applicable Rating Agencies shall have confirmed in writing that the occurrence of
the event with respect to which such Rating Agency Confirmation is sought shall not result in a downgrade, qualification or withdrawal
of the applicable rating or ratings ascribed by such Rating Agency to any of the Certificates then outstanding. In the event that
no Certificates are outstanding, any action that would otherwise require a Rating Agency Confirmation shall require the consent
of the Designated Holder, which consent shall not be unreasonably withheld, conditioned or delayed.

 

For the purposes of this
Agreement, if any Rating Agency (1) waives, declines or refuses, in writing, to review or otherwise engage any request for a confirmation
hereunder from such Rating Agency that a proposed action will not result in a qualification, downgrade or withdrawal of its then
current rating of the securities issued pursuant to the related Securitization, or (2) does not reply to such request or responds
in a manner that indicates that such Rating Agency is neither reviewing such request nor waiving the requirement for Rating Agency
Confirmation and the related timing, notice and other applicable provisions set forth in the Servicing Agreement, or to a PSA that
is not the Servicing Agreement, as applicable, have been satisfied, then for such request only, the condition that such confirmation
by such Rating Agency (only) be obtained will be deemed not to apply 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.

 

“Reimbursement
Rate” shall have the meaning assigned to such term or the term “Advance Rate” or an analogous term in the
Servicing Agreement.

 

“REMIC”
shall have the meaning assigned to such term in Section 2(f).

 

“REO Property”
shall mean the Mortgaged Property, title to which has been acquired by the Servicer on behalf of (or other Person designated by)
the Holders through foreclosure, deed in lieu of foreclosure or otherwise.

 

“Reporting Article”
shall mean, with respect to any PSA, the article of such PSA that relates to reporting under the Exchange Act and Regulation AB.

 

    -10-

     

    

 

“S&P”
shall mean S&P Global Ratings, a division of S&P Global, and its successors in interest.

 

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

 

“Securitization
Date” shall mean the closing date for any Securitization.

 

“Servicer”
shall mean (i) the Master Servicer with respect to a non-Specially Serviced Mortgage Loan and the Special Servicer with respect
to a Specially Serviced Mortgage Loan, or (ii) with respect to a specific function, right or obligation as to which the Servicing
Agreement designates the Master Servicer or the Special Servicer, the party so designated, as applicable, pursuant to the Servicing
Agreement.

 

“Servicing Agreement”
shall mean the Lead Securitization PSA. In the event the Lead Note is no longer an asset of the trust fund created pursuant to
the Lead Securitization PSA, the term “Servicing Agreement” shall refer to the subsequent servicing agreement entered
into pursuant to Section 2.

 

“Servicing Fee”
shall mean the fee of the Master Servicer pursuant to the terms of the Servicing Agreement, which will generally be calculated
as the product of (i) the Servicing Fee Rate and (ii) the outstanding principal balance of the Mortgage Loan as of the date of
determination.

 

“Servicing Fee
Rate” shall have the meaning applied to such term in the Servicing Agreement, being the rate per annum which, when applied
to the Mortgage Loan Principal Balance (which may be a different rate with respect to each of the Notes), will determine the servicing
fee payable to the Master Servicer under the Servicing Agreement.

 

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

 

“Servicing Transfer
Event” shall mean any of the events specified in the Servicing Agreement, whereby the servicing of the Mortgage Loan
is required to be transferred to the Special Servicer from the Master Servicer.

 

“Special Servicer”
shall mean the special servicer of the Mortgage Loan as appointed under the terms of this Agreement and the Servicing Agreement,
or any successor special servicer appointed as provided thereunder or hereunder.

 

“Special Servicing
Fee” shall have the meaning given to such term in the Servicing Agreement.

 

“Specially Serviced
Mortgage Loan” shall mean the Mortgage Loan during the period it is serviced by the Special Servicer following a Servicing
Transfer Event.

 

    -11-

     

    

 

“Transfer”
shall mean any assignment, pledge, conveyance, sale, transfer, mortgage, encumbrance, grant of a security interest, issuance of
a participation interest, or other disposition, either directly or indirectly, by operation of law or otherwise.

 

“Trustee”
shall mean the trustee under any PSA, as the context requires.

 

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

 

2.         Servicing
of the Mortgage Loan. (a) Each Holder acknowledges and agrees that, subject in each case to the specific terms of this
Agreement, the Mortgage Loan shall be serviced by the Master Servicer and the Special Servicer under the Servicing Agreement in
effect at any given time. Subject to the terms and conditions of this Agreement, each Holder hereby irrevocably and unconditionally
consents to the appointment of the Master Servicer and the Trustee under the Servicing Agreement by the Depositor and the appointment
of the Special Servicer by the Directing 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 Servicing Agreement. Each Holder hereby appoints the
Master Servicer, the Special Servicer and the Trustee under the Servicing Agreement as such 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 Servicing Agreement (subject at all times to the rights of the Holders as set forth herein and in such Servicing Agreement).

 

(b)        If,
at any time the Lead Note is no longer in a Securitization, the Designated Holder shall cause the Mortgage Loan to be serviced
pursuant to a servicing agreement that is substantially similar to the Servicing Agreement (and, if any Non-Lead Note is in a Securitization,
a Rating Agency Confirmation from the Rating Agencies that were engaged by the Depositor to rate such Securitization shall be obtained)
and all references herein to the “Servicing Agreement” shall mean such subsequent Servicing Agreement; provided,
however, that until a replacement Servicing Agreement has been entered into (and such written confirmation has been obtained),
the Designated Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions of the Servicing Agreement as if
such agreement was still in full force and effect with respect to the Mortgage Loan; provided, further, however,
that until a replacement Servicing Agreement is in place, the actual servicing of the Mortgage Loan may be performed by any Qualified
Servicer appointed by the Designated Holder and does not have to be performed by the service providers set forth under the Servicing
Agreement that was previously in effect.

 

(c)        Notwithstanding
anything to the contrary contained herein (including Sections 4 and 13(a)), each Servicing Agreement shall provide
that the Servicer shall be required to service and administer the Mortgage Loan in accordance with the Servicing Standard as set
forth in such Servicing Agreement, and any Holder who is not a Borrower or a Borrower Party Affiliate shall be deemed a third-party
beneficiary of such provisions of the Servicing Agreement. It is understood that any Non-Lead Note Holder may separately appoint
a servicer for its Non-Lead Note, by itself or together with other assets, but any such servicer will have no responsibility hereunder
and shall be compensated solely by the applicable Non-Lead Note Holder from funds payable to it hereunder or otherwise.

 

    -12-

     

    

 

(d)        The
Holders acknowledge that the Servicer is to comply with this Agreement and the Mortgage Loan Documents in connection with the servicing
of the Mortgage Loan.

 

(e)        If
any Note is included as an asset of a real estate mortgage investment conduit (a “REMIC”), within the meaning
of Section 860D(a) of the Code, then, any provision of this Agreement to the contrary notwithstanding: (i) the Mortgage Loan shall
be administered such that the Notes shall qualify at all times as (or as interests in) a “qualified mortgage” within
the meaning of Section 860G(a)(3) of the Code, (ii) any real property (and related personal property) acquired by or on behalf
of the 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 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 Borrower, or exercise or refrain from exercising any powers or rights that the 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 that includes any Note (or any portion thereof). Each Holder agrees that the provisions of this
paragraph shall be effected by compliance with any REMIC provisions in the Servicing Agreement relating to the administration of
the Mortgage Loan.

 

(f)         In
the event that one of the Notes is included in a REMIC, the other Holders shall not be required to reimburse such Holder or any
other Person for payment of any taxes imposed on such REMIC or Advances therefor or for any interest on such Advance or for deficits
in other items of disbursement or income resulting from the use of funds for payment of any such taxes, nor shall any disbursement
or payment otherwise distributable to the other Holders be reduced to offset or make-up any such payment or deficit.

 

3.          Priority
of Notes. The Notes shall be of equal priority, and no portion of any Note shall have priority or preference over any
portion of any other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise
available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds,
proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title,
hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the
power of eminent domain shall be distributed by the Master Servicer and applied to the Notes on a Pro Rata and Pari Passu Basis.

 

The Servicing Agreement
may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer,
the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii)
to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred
with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation,
except that for so long

 

    -13-

     

    

 

as Note A-1 is not included in a Securitization, any Penalty Charges allocated to such Note that is not
included in a Securitization that are not applied to clauses (i), (ii) or (iii) above, shall be remitted to the Holder of such
Note and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.

 

4.         Workout. Notwithstanding
anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement and Section 13
of this Agreement, and the obligation to act in accordance with the Servicing Standard, if the Lead 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 Mortgage Loan
Principal Balance is decreased, (ii) the Mortgage 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
the Notes as described in Section 3.

 

5.         Accounts;
Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection
Account or Collection Accounts, as applicable. Each of the Note Holders hereby directs the Master Servicer, in accordance with
the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into
the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect
to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer
Remittance Date all payments received with respect to and allocable to any Note by wire transfer to accounts maintained by the
related Note Holder; provided that any late collections received by the Master Servicer after the related due date under
the Mortgage Loan shall be remitted by the Master Servicer in accordance with Section 18(d)(vii) of this Agreement.

 

If any Servicer holding
or having distributed any amount received or collected in respect of any Note 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 Borrower or paid to the related Note Holder or any Servicer
or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute
any portion thereof to the related Note Holder, and such related Note Holder shall promptly on demand repay to such Servicer the
portion thereof which shall have been theretofore distributed to such Note Holder, together with interest thereon at such rate,
if any, as such Servicer shall have been required to pay to the Borrower, the related Note Holder, any Servicer or such other person
or entity with respect thereto. 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 will promptly remit such excess to the Master
Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from any Note Holder with respect to the
Mortgage Loan against any future payments due to such Note Holder under the Mortgage Loan, provided, that the obligations
of the Note Holders under this Section 5 are separate and distinct obligations from one another and in no event shall any
Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note Holders under this Section
5 constitute absolute,

 

    -14-

     

    

 

unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary
of these provisions.

 

6.         Limitation
on Liability. Subject to the terms of the Servicing Agreement, no Holder (including the Master Servicer or the Special
Servicer on its behalf) shall have any liability to any other Holder with respect to any Note, except (1) with respect to the
Advance reimbursement provisions set forth in Section 17 and (2) with respect to losses actually suffered due to the gross
negligence, willful misconduct or material breach of this Agreement on the part of such Holder (including the Master Servicer
or the Special Servicer on its behalf, except that the Master Servicer’s or Special Servicer’s liability may be further
limited or expanded as set forth in the Servicing Agreement).

 

7.         Representations
of the Holders. (a) Each of the Holders hereby represents and warrants to, and covenants with each other Holder that,
as of the date hereof (or, in connection with a new Holder of a Note following a Transfer, as of the date of such Transfer):

 

(i)         It
is duly organized, validly existing and in good standing under the laws of the State under which it is organized.

 

(ii)        The
execution and delivery of this Agreement by such Holder, and performance of, and compliance with, the terms of this Agreement by
such Holder, will not violate its organizational documents or constitute a default (or an event which, with notice or lapse of
time, or both, would constitute a default) under, or result in the breach of, any material agreement or other instrument to which
it is a party or that is applicable to it or any of its assets, in each case which materially and adversely affect its ability
to carry out the transactions contemplated by this Agreement.

 

(iii)       Such
Holder has the full power and authority to enter into and consummate all transactions contemplated by this Agreement, has duly
authorized the execution, delivery and performance of this Agreement and has duly executed and delivered this Agreement.

 

(iv)       This
Agreement is the legal, valid and binding obligation of such Holder enforceable against such 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.

 

(v)      
 It has the right to enter into this Agreement without the consent of any third party.

 

(vi)       It
is the holder of the respective Note for its own account in the ordinary course of its business.

 

    -15-

     

    

 

(vii)      It
has not dealt with any broker, investment banker, agent or other person, that may be entitled to any commission or compensation
in connection with the consummation of any of the transactions contemplated hereby.

 

(viii)     It
is a Qualified Transferee.

 

8.         Independent
Analyses of each Holder. Each Holder acknowledges that, except for the representations made in Section 7, it has,
independently and without reliance upon any other Holders and based on such documents and information as such Holder has deemed
appropriate, made its own credit analysis and decision to purchase its respective Note. Each Holder hereby acknowledges that the
other Holders shall have no responsibility for (i) the collectability of the Mortgage Loan, (ii) the validity, enforceability
or legal effect of any of the Mortgage Loan Documents or the title insurance policy or policies or any survey furnished or to
be furnished in connection with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of the
lien created or to be created by the Mortgage Loan Documents, or (iv) the financial condition of the Borrower. Each Holder assumes
all risk of loss in connection with its respective Note for reasons other than gross negligence, willful misconduct or breach
of this Agreement by any other Holder or negligence, willful misconduct or bad faith by any Servicer, subject to the terms of
the Servicing Agreement.

 

9.         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 among any Holder (or the Master Servicer, Special Servicer or Trustee on its behalf) and
any other Holder a partnership, association, joint venture or other entity. Each Holder (or the Master Servicer, Special Servicer
or Trustee on its behalf) shall have no obligation whatsoever to offer to the other Holders the opportunity to purchase notes
or interests relating to any future loans originated by such Holder or any of its Affiliates, and if any Holder chooses to offer
to any of the other Holders, the opportunity to purchase notes or interests in any future mortgage loans originated by such Holder
or its Affiliates, such offer shall be at such purchase price and interest rate as such Holder chooses, in its sole and absolute
discretion. None of the Holders shall have any obligation whatsoever to purchase from any other Holder any notes or interests
in any future loans originated by any other Holder or any of its Affiliates.

 

10.       Not
a Security. None of the Notes shall be deemed to be a security within the meaning of the Securities Act of 1933 or the
Exchange Act.

 

11.       Other
Business Activities of the Holders. Each Holder acknowledges that the other Holders may make loans or otherwise extend
credit to, and generally engage in any kind of business with, any Borrower Party Affiliate, and receive payments on such other
loans or extensions of credit to any Borrower Party Affiliate and otherwise act with respect thereto freely and without accountability,
but only if none of the foregoing violate the Mortgage Loan Documents, in the same manner as if this Agreement and the transactions
contemplated hereby were not in effect.

 

    -16-

     

    

 

12.       Transfer
of Notes. (a) Each Holder may Transfer up to 49% (in the aggregate) of its beneficial interest in its Note whether or
not the related transferee is a Qualified Transferee without a Rating Agency Confirmation. Each Holder agrees it shall not Transfer
more than 49% (in the aggregate) of its beneficial interest in its Note, except to a Qualified Transferee, unless (i) prior to
a Securitization of any Note, the other Holders have consented to such Transfer, in which case the related transferee (and its
Affiliates) shall thereafter be deemed to be a “Qualified Transferee” for all purposes under this Agreement,
(ii) after a Securitization of any Note, a Rating Agency Confirmation has been received with respect to such Transfer, in which
case the related transferee shall thereafter be deemed to be a “Qualified Transferee” for all purposes under
this Agreement, or (iii) such Transfer is in connection with a sale by a Securitization Trust; provided that if such Transfer
is a Transfer of the Lead Note, such Transfer is to a Qualified Transferee. With respect to any Transfers pursuant to (i) or (ii)
above (except with respect to a Transfer to a Securitization Trust) such transferee must (x) assume in writing the obligations
of the transferring Holder hereunder and agree to be bound by the terms and provisions of this Agreement and, if applicable, the
Servicing Agreement and (y) remake each of the representations and warranties contained herein for the benefit of the other Holders.
Notwithstanding the foregoing, without the non-transferring Holder’s prior consent (which will not be unreasonably withheld),
and, if such non-transferring Holder’s Note is in a Securitization, without a Rating Agency Confirmation from each Rating
Agency that has been engaged by the Depositor to rate the securities issued in connection with such Securitization, no Holder
shall Transfer all or any portion of its Note to a Borrower or a Borrower Party Affiliate and any such Transfer shall be absolutely
null and void and shall vest no rights in the purported transferee. None of the provisions of this Section 12(a) shall apply in
the case of a sale of Note A-1 together with the other Notes in accordance with the terms and conditions of the Lead Securitization
PSA.

 

(b)       Except
for a Transfer made in connection with a Securitization, or a Transfer made by a Holder to an Affiliate, at least five (5) days
prior to a transfer of any Note, the transferring Holder shall provide to the other Holders and, if any Certificates are outstanding,
to the Rating Agencies, a certification that such transfer will be made in accordance with this Section 12, such certification
to include (1) the name and contact information of the transferee and (2) if applicable, a certification by the transferee that
it is a Qualified Transferee.

 

(c)       The
Holders acknowledge and agree that, to the extent specifically required, any Rating Agency Confirmation may be granted or denied
by the Rating Agencies in their sole and absolute discretion and that such Rating Agencies may charge the transferring Holder customary
fees in connection with providing such Rating Agency Confirmation.

 

(d)       Notwithstanding
anything to the contrary contained herein, each Holder may pledge or transfer (a “Pledge”) its Note to any entity
(other than a Borrower or any Borrower Party Affiliate) that has extended a credit facility to such Holder or has entered into
a repurchase agreement with such Holder and that, in each case, is either a Qualified Transferee or a financial institution whose
long-term unsecured debt is rated at least “A” (or the equivalent) or better by each Rating Agency (a “Note
Pledgee”), or to a Person with respect to which a Rating Agency Confirmation has been obtained, on terms and conditions
set forth in this Section 12(d), it being further agreed that a financing provided by a Note Pledgee to any Holder or any
Affiliate that controls such Holder that is secured by such Holder’s interest in its respective Note and is structured as
a repurchase arrangement, shall qualify as a “Pledge” hereunder on the condition that

 

    -17-

     

    

 

all applicable terms and conditions
of this Section 12 are complied with. A Note Pledgee that is not a Qualified Transferee may not take title to a Note without
a Rating Agency Confirmation. Upon written notice, if any, by the pledging Holder to the other Holders and the Servicer that a
Pledge has been effected (including the name and address of the applicable Note Pledgee), the other Holders agree to acknowledge
receipt of such notice and thereafter agree: (i) to give such Note Pledgee written notice of any default by the pledging Holder
in respect of its obligations under this Agreement of which default such Holder has actual knowledge and which notice shall be
given simultaneously with the giving of such notice to the pledging Holder; (ii) to allow such Note Pledgee a period of ten (10)
Business Days to cure a default by the pledging Holder in respect of its obligations to the other Holders 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
or the Servicing Agreement (if the pledging Holder had the right to consent to such amendment, modification, waiver or termination
pursuant to the terms hereof) 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 and which consent shall be deemed to be given if Note Pledgee
shall fail to respond to any request for consent to any such amendment, modification, waiver or termination within 10 days after
request therefor; (iv) that the other Holders shall accept any cure by such Note Pledgee of any default of the pledging Holder
which such pledging Holder has the right to effect hereunder, as if such cure were made by such pledging Holder; (v) that the other
Holders or Servicer 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 the other Holders; and (vi) that, upon written notice
(a “Redirection Notice”) to the Servicer by such Note Pledgee that the pledging Holder is in default beyond
any applicable cure periods with respect to the pledging Holder’s obligations to such Note Pledgee pursuant to the applicable
credit agreement or other agreements relating to the Pledge between the pledging Holder and such Note Pledgee (which notice need
not be joined in or confirmed by the pledging Holder), and until such Redirection Notice is withdrawn or rescinded by such Note
Pledgee, Note Pledgee (or at any time that pledging Holder otherwise directs that such payment be made to Note Pledgee pursuant
to a separate notice) shall be entitled to receive any payments that any Servicer would otherwise be obligated to make to the pledging
Holder from time to time pursuant to this Agreement or any Servicing Agreement. Any pledging Holder hereby unconditionally and
absolutely releases the other Holders and any Servicer from any liability to the pledging Holder on account of any Holder’s
or Servicer’s compliance with any Redirection Notice believed by any Servicer or other Holders in good faith to have been
delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging Holder
(and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law, the pledge agreement,
repurchase agreement or similar agreement between the pledging Holder and the Note Pledgee and this Agreement. In such event, or
if the pledging holder otherwise assigns its interests to the Note Pledgee, the other Holders and the Servicer shall recognize
such Note Pledgee (and any transferee (other than a Borrower or any Borrower Party Affiliate) that is also a Qualified Transferee
at any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and such Person’s successor
and assigns, as the successor to the pledging Holder’s rights, remedies and obligations under this Agreement, and any such
Note Pledgee or Qualified Transferee shall assume in writing the obligations of the pledging 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

 

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provisions of this Agreement. The rights of a Note Pledgee under this Section 12(d) shall remain effective as to any Holder
(and any Servicer) unless and until such Note Pledgee shall have notified such Holder (and any Servicer, as applicable) in writing
that its interest in the pledged Note has terminated.

 

13.       Exercise
of Remedies by the Servicer. (a) Subject to the terms of this Agreement and the Servicing Agreement and subject to the
rights and consents, where required, of the Directing Holder, the Servicer 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 and exclusive authority to (i) modify or waive any of the terms of the Mortgage Loan Documents, (ii) consent to any action
or failure to act by the Borrower or any party to the Mortgage Loan Documents, (iii) vote all claims with respect to the Mortgage
Loan in any bankruptcy, insolvency or other similar proceedings and (iv) to take legal action to enforce or protect the Holders’
interests with respect to the Mortgage Loan or to refrain from exercising any powers or rights under the Mortgage Loan Documents,
including the right at any time to call or waive any Events of Default, or accelerate or refrain from accelerating the Mortgage
Loan or institute any foreclosure action, and the Holders shall have no voting, consent or other rights whatsoever with respect
to the Servicer’s administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan other than
as provided in the Servicing Agreement. Subject to the terms and conditions of the Servicing Agreement, the Servicer shall have
the sole and exclusive authority to make Property Advances with respect to the Mortgage Loan. Except as otherwise provided in
this Agreement, each Holder agrees that it shall have no right to, and hereby presently and irrevocably assigns and conveys to
the Servicer the rights, if any, that such Holder has to (A) call or cause the Servicer to call an Event of Default under the
Mortgage Loan, or (B) exercise any remedies with respect to the Mortgage Loan or the Borrower, including, without limitation,
filing or causing the Lead Note Holder or such Servicer to file any bankruptcy petition against the Borrower. Each Holder shall,
from time to time, execute such documents as any Servicer shall reasonably require to evidence such assignment with respect to
the rights described in clause (iii) of the first sentence in this Section 13(a).

 

(b)       The
Lead Servicer and the related Trustee shall not have any fiduciary duty to the Non-Lead Note Holders in connection with the administration
of the Mortgage Loan (but the foregoing shall not relieve the Lead Servicer and the related Trustee from their respective obligation
under this Agreement and the Servicing Agreement to make any disbursement of funds as set forth herein).

 

(c)       The
Holders hereby acknowledge and agree that the Servicing Agreement shall provide that, subject to the satisfaction of the conditions
set forth in the next sentence, upon the Mortgage Loan becoming a Defaulted Mortgage Loan, if the Special Servicer determines to
sell the Defaulted Mortgage Loan (or the Lead Note), it will be required to sell the entire Defaulted Mortgage Loan as a single
whole loan (i.e., both the Lead Note and Non-Lead Note). Any such sale of the entire Defaulted Mortgage Loan is subject to the
satisfaction of the following:

 

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

 

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

 

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(1)           at
least 15 Business Days prior written notice of any decision to attempt to sell the Defaulted Mortgage Loan;

 

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

 

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

 

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

 

Any Non-Lead Note Holder
may waive any delivery or timing requirements set forth above only for itself. Subject to the foregoing, each of the Lead Note
Holder, the Directing Holder, the Non-Lead Note Holders and the Non-Directing Holders shall be permitted to submit an offer at
any sale of the Defaulted Mortgage Loan (unless such Person is a Borrower or a Borrower Party Affiliate).

 

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

 

(d)           Notwithstanding
anything to the contrary contained herein, the exercise by the Servicer on behalf of the Holders of its rights under this Section
13 shall be subject in all respects to any section of the Servicing Agreement governing REMIC administration, and in no event
shall the Servicer be permitted to take any action or refrain from taking any action if taking or failing to take such action,
as the case may be, would violate the laws of any applicable jurisdiction, breach the Mortgage Loan Documents or be inconsistent
with the Servicing Standard or violate any other provisions of the Servicing Agreement or violate the REMIC provisions of the Code
or any regulations promulgated thereunder, including, without limitation, the provisions of Section 2(f) of this Agreement.

 

14.           Rights
of the Directing Holder. (a) The Directing Holder shall be entitled to exercise the rights and powers granted to the
Directing Holder hereunder and the rights and

 

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powers granted
to the “Directing Holder,” “Controlling Class Certificateholder,” “Controlling Class Representative”
or similar party under, and as defined in, the Servicing Agreement with respect to the Mortgage Loan. In addition, the Directing
Holder shall be entitled to advise (1) the Special Servicer with respect to all matters related to a Specially Serviced Mortgage
Loan 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 take any Major Action
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 taking any Major Action nor will the Special Servicer itself be permitted to take any Major
Action as to which the Directing Holder has objected in writing within ten (10) Business Days (or 30 days with respect to an Acceptable
Insurance Default) after receipt of the written recommendation and analysis and such additional information requested by the Directing
Holder as may be necessary in the reasonable judgment of the Directing Holder in order to make a judgment with respect to such
Major Action. The Directing 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 Directing Holder may deem advisable, subject to the terms of the Servicing Agreement.

 

(b)        If
the Directing Holder fails to notify the Special Servicer of its approval or disapproval of any proposed Major Action within ten
(10) Business Days (or 30 days with respect to an Acceptable Insurance Default) after delivery to the Directing Holder by the applicable
Servicer of written notice of a proposed Major Action together with any information requested by the Directing Holder as may be
necessary in the reasonable judgment of the Directing Holder in order to make a judgment, then upon the expiration of such ten
(10) Business Day (or 30 days with respect to an Acceptable Insurance Default) period, such Major Action shall be deemed to have
been approved by the Directing Holder.

 

(c)        In
the event that the Special Servicer or Master Servicer (in the event the Master Servicer is otherwise authorized by the 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 Directing Holder is necessary to protect the interests of the Holders (as a collective whole)
and the Special Servicer has made a reasonable effort to contact the Directing Holder, the Master Servicer or the Special Servicer,
as the case may be, may take any such action without waiting for the Directing Holder’s response.

 

(d)        No
objection, 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 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 expose the Master Servicer or the Special Servicer to liability, or materially expand the scope
of the Master Servicer’s or the Special Servicer’s responsibilities under the Servicing Agreement.

 

(e)        The
Directing Holder shall have no liability to the other 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 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 Holders agree that the Directing Holder may take

 

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or refrain from taking actions, or give or refrain from
giving consents, that favor the interests of one Holder over the other Holder, and that the Directing Holder may have special relationships
and interests that conflict with the interests of another Holder and, absent willful misfeasance, bad faith or gross negligence
on the part of the Directing Holder agree to take no action against the Directing Holder or any of its officers, directors, employees,
principals or agents as a result of such special relationships or interests, and that the Directing Holder will not be deemed to
have been grossly negligent or reckless, or to have acted in bad faith or engaged in willful misfeasance or to have recklessly
disregarded any exercise of its rights by reason of its having acted or refrained from acting, or having given any consent or having
failed to give any consent, solely in the interests of any Holder.

 

The Holders acknowledge
that the Servicing Agreement may contain certain provisions that give any operating advisor certain non-binding consultation rights
with respect to Major Actions.

 

15.        Appointment
of Special Servicer. Subject to the terms of the Servicing Agreement, the Directing 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 Qualified Servicer as the replacement Special Servicer in lieu thereof. The Directing Holder shall designate a Person
to serve as Special Servicer by delivering to the other Holders (including, to the extent a Note is included in a Securitization,
the parties to the related PSA) a written notice stating such designation and by satisfying the other conditions required under
the Servicing Agreement (including, without limitation, a Rating Agency Confirmation, if required by the terms of the Servicing
Agreement), if any.

 

16.        Rights
of the Non-Directing Holders. (a) The Lead Securitization PSA shall provide that the Servicer shall be required:

 

(i)         to
provide copies of the same notices, information and reports that it is required to provide to the Directing Holder pursuant to
the Servicing Agreement with respect to any Major Actions or the implementation of any recommended actions outlined in an Asset
Status Report relating to the Mortgage Loan to the Non-Directing Holders (but without regard to whether or not the Directing Holder
actually has lost any rights to receive such information as a result of a Consultation Termination Event), within the same time
frame as specified with respect to the Directing Holder (but without regard to whether or not the Directing Holder actually has
lost any rights to receive such information as a result of a Consultation Termination Event), provided, however,
that if a Note has been included in a Non-Lead Securitization transaction, then for any information for which the Special Servicer
would be required to provide to such Non-Directing Holder, the Special Servicer shall provide such notice to the master servicer
of the other Securitization transaction, who shall forward such notice as and when required under the terms of the related Securitization
documents; and

 

(ii)        to
consult with each Non-Directing Holder on a strictly non-binding basis, if, having received such notices, information and reports,
such Non-Directing Holder requests consultation with respect to any such Major Action or the implementation of any

 

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recommended
actions outlined in an Asset Status Report relating to the Mortgage Loan, and consider alternative actions recommended by such
Non-Directing Holder; provided that after the expiration of a period of ten (10) Business Days from the delivery to each
Non-Directing Holder of written notice of a proposed action, together with copies of the notice, information and report required
to be provided to the Directing Holder, the Servicer shall no longer be obligated to consult with the Non-Directing Holders, whether
or not the Non-Directing Holders have responded within such ten (10) Business Day period (unless the Servicer proposes a new course
of action that is materially different from the action previously proposed, in which case such ten (10) Business Day period shall
be begin anew from the date of such proposal and delivery of all information relating thereto).

 

(b)        Notwithstanding
the foregoing non-binding consultation rights of the Non-Directing Holders, the Servicer may take any Major Action or any action
set forth in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period if the Servicer determines
that immediate action with respect thereto is necessary to protect the interests of the Holders.

 

(c)        In
addition to the foregoing non-binding consultation rights, the Non-Directing Holders shall have the right to annual conference
calls with the Master Servicer or the Special Servicer 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)        In
no event shall the Servicer be obligated at any time to follow or take any alternative actions recommended by any of the Non-Directing
Holders.

 

(e)        Any
Non-Directing Holder that is a Borrower or a Borrower Party Affiliate shall not be entitled to any of the rights set forth in this
Section 16.

 

17.        Advances;
Reimbursement of Advances. (a) From time to time, (i) pursuant to terms of the Servicing Agreement, the Lead Servicer
and/or the related Trustee may be obligated to make (1) Property Advances with respect to the Mortgage Loan or the Mortgaged Property
and (2) P&I Advances with respect to the Lead Note(s) and (ii) pursuant to the terms of a Non-Lead Servicing Agreement, the
related Non-Lead Master Servicer and/or the related Trustee may be obligated to make P&I Advances with respect to a Non-Lead
Note. The Lead Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Non-Lead
Note and the related Non-Lead Master Servicer and/or the related Trustee will not be required to make any P&I Advance with
respect to any Lead Note, any other Non-Lead Note or any Property Advance. The Lead Servicer, each Non-Lead Master Servicer and
any Trustee will be entitled to interest on any Advance made in the manner and from the sources provided in the applicable PSA.

 

(b)        The
Lead Servicer and the related Trustee, as applicable, will be entitled to reimbursement for a Property Advance, first from
the Collection Account established with respect to the Mortgage Loan, and then, if such Property Advance is a Nonrecoverable
Advance, if such funds on deposit in the Collection Account are insufficient, from general collections of the Lead Securitization
as provided in the Servicing Agreement.

 

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(c)        To
the extent amounts on deposit in the Collection Account with respect to the Mortgage Loan are insufficient to reimburse the Lead
Servicer for any Property Advance and/or interest thereon and the Lead Servicer or the related Trustee, as applicable, obtains
funds from general collections of the Lead Securitization as a reimbursement for a Property Advance or interest thereon, each Non-Lead
Note Holder (including any Securitization into which any Non-Lead Note is deposited) shall be required to, promptly following notice
from the Lead Servicer, pay to the Lead Securitization for its pro rata share of such Property Advance and/or interest thereon
at the Reimbursement Rate. In addition, each Non-Lead Note Holder (including any Securitization into which any Non-Lead Note is
deposited) shall promptly reimburse the Lead Servicer or the related Trustee for such Non-Lead 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 Lead Securitization or any of the parties thereto are entitled to be reimbursed pursuant to the terms of the Servicing Agreement
(to the extent amounts on deposit in the Collection Account with respect to the Mortgage Loan are insufficient for reimbursement
of such amounts).

 

(d)        The
parties to each PSA shall each be entitled to make their own recoverability determination with respect to a P&I Advance based
on the information that they have on hand and in accordance with such PSA.

 

(e)        If
the Lead Servicer or the related Trustee elects to defer the reimbursement of a Property Advance in accordance with the terms of
the Servicing Agreement, the Lead Servicer or the related Trustee shall also defer its reimbursement of each Non-Lead Note share
from the Non-Lead Note Holders.

 

18.        Provisions
Relating to Securitization. (a) New Notes. For so long as a Note is not included in a Securitization, the
Holder of such Note (the “Resizing Holder”) shall have the right, subject to the terms of the Mortgage Loan
Documents, to cause the Borrower to execute amended and restated notes (“Amended Notes”) or additional notes
(“New Notes”) reallocating the principal of the Note or Notes that it owns (but in no case any Note that it
does not then own) among Amended Notes and New Notes or severing a Note into one or more further “component” notes
in the aggregate principal amount equal to the then outstanding principal balance of the Note or Notes being amended or created,
provided that (i) the aggregate principal balance of the Amended Notes and New Notes following such amendments is no greater
than the principal balance of the Amended Notes and New Notes prior to such amendments, (ii) all New Notes continue to have the
same interest rate as the Amended Note of which it was a part prior to such amendments, (iii) all New Notes pay pro rata
and on a pari passu basis with the Amended Notes and such reallocated or component notes shall be automatically subject
to the terms of this Agreement and (iv) the Resizing Holder holding the New Notes shall notify each other Holder, as applicable,
and, if any other Note has been included in a securitization, the parties under each applicable PSA, in writing (which may be
by email) of such modified allocations and principal amounts. In connection with the foregoing, (1) the Master Servicer is hereby
authorized to execute amendments to the Loan Agreement and this Agreement (or to amend and restate the Loan Agreement and this
Agreement) on behalf of any or all of the Holders for the purpose of reflecting such reallocation of principal or such severing
of a Note, (2) if a Note is severed into “component” notes, such component notes shall each have their same

 

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rights as the respective original Note, (3) the definition of the term “Securitization” and all of
the related defined terms may be amended (and new terms added, as necessary) to reflect the New Notes and (4) if Note A-1 is severed
into “component” notes, another note (or one of the New Notes) may be substituted for Note A-1 in the definition of
“Designated Holder” and “Directing Holder” and the definitions of “Lead Note” and “Lead
Securitization” and “Non-Directing Holder” will be revised accordingly. Neither Rating Agency Confirmation nor
approval of the Directing Holder shall be required for any amendments to this Agreement required to facilitate the terms of this
Section 18(a). The Resizing Holder whose Note is being reallocated or split pursuant to this Section 18(a) shall
reimburse the other Holders for all costs and expenses incurred by the other Holders in connection with the reallocation or split.

 

(b)        The
Non-Lead Note Holder agrees that (unless the Non-Lead Note and the Lead Note are included in the same Securitization) it shall
cause the Non-Lead Servicing Agreement to provide as follows:

 

(i)         the
applicable master servicer or Trustee for such Securitization shall be required to notify the master servicer, special servicer
and Trustee of each other Securitization of the amount of any P&I Advance it has made with respect to the Note included in
such Securitization within two Business Days of making such advance;

 

(ii)        if
the applicable master servicer, special servicer or Trustee determines that a proposed P&I Advance, if made, or any outstanding
P&I Advance previously made, would be, or is, as applicable, a nonrecoverable advance, the master servicer shall provide the
other servicers written notice of such determination within 2 Business Days after such determination was made;

 

(iii)       in
the event such Non-Lead Note Holder is responsible for its proportionate share of any Nonrecoverable Advances (or any other portion
of a Nonrecoverable Advance) (and advance interest thereon) or other fee or expense pursuant to Section 17, and funds received
with respect to such Non-Lead Note are insufficient to cover such amounts, (x) the related master servicer will be required to
pay the Master Servicer, Special Servicer or Trustee under the Servicing Agreement, as applicable, out of general funds in the
collection account (or equivalent account) established under the related Non-Lead Servicing Agreement and (y) if the Servicing
Agreement permits the Master Servicer, Special Servicer or Trustee under the Servicing Agreement to pay itself from the Lead Securitization
Trust’s general account then the master servicer under the related Non-Lead Servicing Agreement will be required to reimburse
the Lead Securitization Trust out of general funds in the collection account (or equivalent account) established under the related
Non-Lead Servicing Agreement;

 

(iv)       each
of the Master Servicer and the Special Servicer shall be indemnified (as and to the same extent the Lead Securitization Trust
is required to indemnify each such party) 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 any PSA that relate solely to its servicing
of the Mortgage Loan, as applicable, and the master servicer under the related Non-Lead Servicing Agreement will be required to
reimburse the Master Servicer, Special Servicer or Trustee under the Servicing Agreement,

 

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as applicable,
out of general funds in the collection account (or equivalent account) established under the related Non-Lead Servicing Agreement;

 

(v)        each
of Trustee and the master servicer under the Non-Lead Servicing Agreement, as applicable, shall acknowledge that, (i) each of
the Master Servicer and the Trustee under the Servicing Agreement will be a third party beneficiary under the Non-Lead Servicing
Agreement with respect to any provisions therein relating to (1) the reimbursement of any nonrecoverable advances made with respect
to such Non-Lead Note by the Master Servicer or the Trustee under the Servicing Agreement and (2) as to the Master Servicer only,
the indemnification of the Master Servicer 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 any PSA and relating to such Non-Lead
Note and (ii) the Special Servicer will be a third party beneficiary under the related Non-Lead Servicing Agreement with respect
to any provisions therein relating to (1) the reimbursement of any nonrecoverable advances made with respect to such Non-Lead
Note by the Special Servicer (it being understood that the Special Servicer is not required to make any Advances) and (2) the
indemnification of the Special Servicer 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 any PSA and relating to such Non-Lead
Note; and

 

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

 

(c)        Notice
to Parties to the Lead Securitization PSA. Each Non-Lead Note Holder shall provide the Depositor, the Trustee, the Servicer, and
the Special Servicer under the Lead Securitization PSA (as of the related Securitization Date) (provided such party is not also
a party to the Lead Securitization PSA) notice of the related Securitization in writing (which may be by email) prior to or promptly
following such Securitization Date. Such notice shall contain contact information for each of the parties to the related PSA and
the identity of the Controlling Class Representative under such PSA. In addition, after the Securitization Date for any other Notes,
the related Note Holder shall send a copy of the related PSA to the Depositor, the Servicer, and the Special Servicer under the
Lead Securitization PSA (as of the related Securitization Date) (provided such party is not also a party to the Lead Securitization
PSA).

 

(d)        The
Lead Securitization PSA shall:

 

(i)         provide
that the Master Servicer and Trustee for such Securitization shall be required to notify the servicer, special servicer and Trustee
of each other Securitization of the amount of any P&I Advance it has made with respect to the Note included in such Securitization
within two Business Days of making such advance;

 

(ii)        provide
that if the Master Servicer or Trustee determines that a proposed P&I Advance, if made, or any outstanding P&I Advance
previously made, would be, or is, as applicable, a nonrecoverable advance, the Master Servicer shall provide the other servicers
written notice of such determination within two Business Days after such determination was made;

 

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(iii)       provide
that the Master Servicer shall remit all payments received (or advanced) with respect to any Non-Lead Note, net of its Servicing
Fee and any other applicable fees and reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to the
Non-Lead Holder on the applicable Master Servicer Remittance Date; provided, that any late collections received by the Master
Servicer after the related due date under the Mortgage Loan shall be remitted by the Master Servicer in accordance with Section
18(d)(vii) below;

 

(iv)       provide
that the Master Servicer agrees to make available to each master servicer under a Non-Lead Servicing Agreement the CREFC®
Investor Reporting Package® pursuant to the terms of the Servicing Agreement on a monthly basis on the applicable
Master Servicer Remittance Date;

 

(v)        provide
that the Master Servicer, any primary servicer, the Special Servicer and the Trustee for the Lead Securitization, certificate administrator
or other party acting as custodian for the Lead Securitization shall be required to deliver (and shall be required to cause each
other servicer and servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation AB) retained
or engaged by it to deliver), to the parties to any Non-Lead Servicing Agreement, at its own expense, in a timely manner, the reports,
certifications, compliance statements, accountants’ assessments and attestations, information to be included in reports (including,
without limitation, Form ABS-15G, Form 10-K, Form 10-D, Form 8-K), notices, and other materials specified in each of the other
Servicing Agreements as the parties to each Non-Lead Securitization may require in order to comply with their obligations under
the Securities Act of 1933, as amended, the Exchange Act (including Rule 15Ga-1), as amended, and Regulation AB, and any other
applicable law. Without limiting the generality of the foregoing, each Lead Note Holder for a Lead Securitization shall provide
in a timely manner to the depositor and the Trustee for any prior Securitization a copy of the Lead Securitization PSA and each
Lead Servicer (at the expense of the Lead Note Holder) will be required, upon prior written request, to provide to the depositor
and the Trustee for any prior Securitization any other information required to comply in a timely manner with applicable filing
requirements under Items 1.01 and 6.02 of Form 8-K, any other disclosure information required pursuant to Regulation AB in a timely
manner for inclusion in any disclosure document (and, with respect to the Servicing Agreement, for filing under Form 8-K), and
with respect to the Lead Servicers (at the expense of the requesting party), upon prior written request, market indemnification
agreements, opinions and Regulation AB compliance letters as were or are being delivered with respect to the Lead Securitization.
As used in this Agreement, “Regulation AB” means Subpart 229.1100 – Asset Backed Securities (Regulation AB),
17 C.F.R. §§ 229.1100-229.1125, as such may be amended from time to time, and subject to such clarification and interpretation
as have been provided by the United States Securities and Exchange Commission (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. The Master Servicer, any primary servicer and the Special Servicer, upon
prior written request, shall each be required to provide certification and indemnification to each Certifying Person with respect
to the Sarbanes-Oxley Certification (or analogous terms) as such terms are defined in the related Non-Lead Servicing Agreements;

 

    -27-

     

    

 

(vi)       provide
that the servicing duties of each of the Master Servicer and Special Servicer under the Servicing Agreement shall include the duty
to service each Non-Lead Note on behalf of the Note Holders (including the related Trustees and related Certificate holders) in
accordance with the terms and provisions of this Agreement;

 

(vii)      provide
that, with respect to any/each Non-Lead Note, the Master Servicer shall withdraw from the related Collection Account and remit
to the Holder of the Non-Lead Note, within one (1) Business Day of receipt of properly identified and available funds, any amounts
that represent late collections or principal prepayments on such Non-Lead Note or any successor REO Property with respect thereto
(exclusive of any portion of such amount payable or reimbursable to any third party in accordance with this Agreement), unless
such amount would otherwise be included in the monthly remittance to the Holder of such Non-Lead Note for such month; provided,
however, that to the extent any such amounts are received after 3:00 p.m. Eastern time on any given Business Day, the Master
Servicer shall use commercially reasonable efforts to remit later collections to the Non-Lead Master Servicer within one Business
Day of receipt of properly identified and available funds but, in any event, the Master Servicer shall remit such amounts within
two Business Days of receipt of properly identified funds;

 

(viii)     provide
that the Non-Lead Note Holders are intended third-party beneficiaries in respect of the rights afforded it under the Servicing
Agreement and each master servicer under a Non-Lead Servicing Agreement will be entitled to enforce the rights of the related Trustee
with respect to such Non-Lead Note under this Agreement and the Servicing Agreement;

 

(ix)       provide
that each master servicer and special servicer under any Non-Lead Servicing Agreement shall be a third-party beneficiary of the
Servicing Agreement with respect to all provisions therein expressly relating to compensation, reimbursement or indemnification
of such master servicer or special servicer, as the case may be, and the provisions regarding coordination of Advances;

 

(x)        provide
that it shall not be amended in a manner that materially and adversely affects the rights of the Non-Lead Note Holders without
their consent;

 

(xi)       satisfy
Moody’s rating methodology as of the Closing Date of the Lead Securitization related to permitted investments and eligible
accounts applicable to securities rated “Aaa” by Moody’s;

 

(xii)      provide
that, in connection with (A) any amendment of the Servicing Agreement, a party to such Servicing Agreement is required to provide
a copy of the executed amendment to the depositor under each related Non-Lead Servicing Agreement and one or more parties to the
related Non-Lead Servicing Agreement (which may be by e-mail), together with a copy of such amendment in electronic format, no
later than the effective date of such amendment, and (B) the termination, resignation and/or replacement of the Master Servicer
or Special Servicer under the Servicing Agreement, the replacement “master servicer” or replacement “special
servicer”, as applicable, is required to provide to the depositor under each related Non-Lead Servicing Agreement and one
or more parties

 

    -28-

     

    

 

to the related Non-Lead Servicing Agreement all disclosure about itself that is required to be included in Form
8-K no later than the date of effectiveness thereof;

 

(xiii)     provide
that “servicer termination events” (or any analogous term under the Servicing Agreement) include customary market termination
events with respect to failure to make advances, failure to remit payments to the Non-Lead Note Holders as required, failure to
deliver (or cause to be delivered) materials or information required in order for the Non-Lead Note Holders or the depositor under
a related Non-Lead Servicing Agreement to timely comply with its obligations under the Exchange Act, the Securities Act of 1933,
as amended, or Form SF-3, and for rating agency triggers with respect to any Certificates, subject to customary grace periods (provided
that, in the case of failures related to the securities laws, such grace periods will not cause a depositor under a Non-Lead Servicing
Agreement to fail to comply with the applicable provisions of such securities laws), Upon the occurrence of such a servicer termination
event with respect to the Master Servicer affecting any Non-Lead Note Holder and the Master Servicer is not otherwise terminated
pursuant to the Lead Securitization PSA, the Master Servicer shall be required, upon the direction of the applicable Non-Lead Note
Holder, to appoint a subservicer with respect to the related Non-Lead Note. Upon the occurrence of a servicer termination event
with respect to the Special Servicer affecting any Non-Lead Note Holder and the Special Servicer is not otherwise terminated pursuant
to the Lead Securitization PSA, the Trustee shall, upon direction of such Non-Lead Note Holder, terminate the Special Servicer
with respect to, but only with respect to, the Mortgage Loan;

 

(xiv)     provide
that if a Non-Lead Note becomes the subject of an “asset review” under a Non-Lead Servicing Agreement, the applicable
parties to the Servicing Agreement are required to reasonably cooperate with the related asset representations reviewer and other
applicable party to such Non-Lead Servicing Agreement in connection with such asset review, including with respect to providing
access to related underlying documents to the extent the asset representations reviewer and any such other applicable party to
the Non-Lead Servicing Agreement has not obtained such documents from the entity that was the related Non-Lead Note Holder prior
to transfer of the Non-Lead Note to a Securitization and such documents are in the possession of the applicable party to the Servicing
Agreement;

 

(xv)      provide
that the Non-Lead Note Holders shall be entitled to the same indemnity as the Lead Note Holder under the Lead Securitization PSA
with respect to the following items; each of the Master Servicer, the Special Servicer, the Trustee, the certificate administrator,
the operating advisor, and the custodian shall be required to indemnify each certifying person and the Depositor under any Non-Lead
Servicing Agreement, and their respective directors and officers and controlling persons, to the same extent that they indemnify
the Depositor of the Lead Securitization (in its capacity as such) and each certifying person for (i) its failure to deliver the
items in clauses (v) and (xiii) above in a timely manner, (ii) its failure to perform its obligations to such Depositor of a Non-Lead
Securitization or Trustee of a Non-Lead Securitization under the Reporting Article (or any article substantially similar thereto)
of the Lead Securitization PSA by the time required after giving effect to any applicable grace period or cure period, (iii) the
failure of any servicer or servicing function participant retained by it to perform its

 

    -29-

     

    

 

obligations to such Depositor of a Non-Lead
Securitization or Trustee of a Non-Lead Securitization under such the Reporting Article (or any article substantially similar thereto)
of the Lead Securitization PSA by the time required and/or (iv) any deficient Securities Exchange Act of 1934 report regarding,
and delivered by or on behalf of, such party;

 

(xvi)     provide
that, subject to certain applicable market caps and floor provisions, the special servicing, workout and liquidation fee rates
shall not exceed 0.25%, 1.00% and 1.00% (or, if such rate would result in a workout fee or liquidation fee that would be less than
$25,000, such higher rate as would result in a workout fee or liquidation fee equal to $25,000), respectively, and subject to any
market minimum special servicing fees and fee offsets set forth in the Servicing Agreement. .

 

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

 

20.       Modifications. This
Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by the parties hereto. Additionally,
from and after a Securitization, except (i) to cure any ambiguity, (ii) to correct any error, (iii) to correct or supplement any
provisions herein that may be defective or inconsistent with any other provision or provisions herein or in the Servicing Agreement
or (iv) as set forth in Section 18(a), this Agreement may not be modified unless a Rating Agency Confirmation has been delivered
with respect to each Securitization.

 

21.       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. Each of the Master Servicer, Non-Lead Master Servicer and related Trustee
is an intended third-party beneficiary of this Agreement. Except as provided in Section 5 and the preceding sentence, none
of the provisions of this Agreement shall be for the benefit of or enforceable by any Person not a party hereto.

 

22.       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 as effective as delivery of a manually executed original counterpart of this Agreement

 

    -30-

     

    

 

23.       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.

 

24.       Notices. Unless
stated otherwise, all notices required hereunder shall be given by (i) telephone (confirmed in writing) or shall be in writing
and personally delivered, (ii) sent by facsimile transmission or email 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.

 

25.       Custody
of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Non-Lead Notes) will be held
by (a) prior to the Note A-1 Securitization, the Trustee (or by a custodian on its behalf) of the Lead Securitization under the
terms of the Lead Securitization PSA on behalf of all of the Holders and (b) after the Note A-1 Securitization, the Trustee (or
by a custodian on its behalf) of the Note A-1 Securitization under the terms of the PSA for the Note A-1 Securitization on behalf
of all of the Holders.

 

[NO FURTHER TEXT ON THIS PAGE]

 

    -31-

     

    

 

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

 

	 	Note A-1 Holder:
	 	 
	 	CANTOR COMMERCIAL REAL ESTATE LENDING, L.P.
	 	 	 
	 	By:	/s/ Anthony Orso
	 	 	Name: Anthony Orso
	 	 	Title:   CEO-CCRE
	 	 	 
	 	Note A-2 Holder:
	 	 	 
	 	UBS AG
	 	 	 
	 	By:	/s/
    David Schell
	 	 	Name: David
    Schell
	 	 	Title:   Executive Director
	 	 	 
	 	By:	/s/
    Racquel A.C. Small
	 	 	Name: Racquel A.C. Small
	 	 	Title:   Executive Director

 

Signature
Page to Co-Lender  Agreement – Marketplace at Four Corners

 

    

     

    

 

EXHIBIT
A

 

MORTGAGE
LOAN SCHEDULE

 

A.       Description
of Mortgage Loan

 

	Borrower:	Four
        Corners Shopping Center, LLC

         

	Mortgage
    Loan Origination Date:  	November
    9, 2017
	Initial
    Principal Amount of Mortgage Loan:	$42,000,000
	Co-Lender
    Closing Date Mortgage Loan Principal Balance:	$42,000,000
	Location
    of Mortgaged Property:	Aurora,
        Ohio

        

	Current
    Use of Mortgaged Property:	Retail
    Shopping Center
	Mortgage
    Interest Rate of each Note:	4.9160%
	Maturity
    Date:	December
    6, 2027

 

    A-1

     

    

 

B.       Description
of Notes

 

	Mortgage Loan Origination
    Date:	November
    9, 2017
	Initial
    Note A-1 Principal Balance:	$25,000,000
	Initial
    Note A-2 Principal Balance:	$17,000,000
	Initial
    Note A-1 Percentage Interest:	60%
	Initial
    Note A-2 Percentage Interest:	40%
	Mortgage
    Interest Rate applicable to each Note:	4.9160%
	Default
    Interest Rate applicable to each Note:	Lesser
    of (a) the maximum rate permitted by law or (b) five percent (5%) above the applicable Interest Rate

 

    A-2

     

    

 

EXHIBIT
B

 

Note
A-1 Holder:

 

Cantor
Commercial Real Estate Lending, L.P.

110 East 59th Street, 6th Floor

New York, New York 10022

Attention: Legal Department

Facsimile No.: (212) 610-3623

email: legal@ccre.com

 

with
a copy to:

 

Cadwalader,
Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Lisa Pauquette, Esq.

Facsimile No.: (212) 504-6666

email:
lisa.pauquette@cwt.com

 

with
a copy to:

 

Berkeley
Point Capital LLC

One Beacon Street, 14th Floor

Boston, Massachusetts 02108

Attention: Nancy Navarro, Vice President, Servicing Department

Facsimile No.: (617) 275-7574

 

Note
A-2 Holder:

 

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

1285
Avenue of the Americas

New
York, New York 10019

Attention:
David Schell

Email:
david.schell@ubs.com

 

with
a copy to:

 

Cadwalader,
Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Frank Polverino, Esq.

Facsimile No.: (212) 504-6666

email:
frank.polverino@cwt.com

 

    B-1

     

    

 

EXHIBIT
C

 

PERMITTED
FUND MANAGERS

 

Westbrook
Partners

iStar
Financial Inc.

Capital
Trust

Archon
Capital, L.P.

Whitehall
Street Real Estate Fund, L.P.

The
Blackstone Group

Normandy
Real Estate Partners

Dune
Real Estate Partners

AllianceBernstein

Rockwood

RREEF
Funds

Hudson
Advisors

Artemis
Real Estate Partners

Apollo
Real Estate Advisors

Colony
Capital, Inc.

Praedium
Group

Fortress
Investment Group, LLC

Lonestar
Opportunity Funds

Clarion
Partners

Walton
Street Capital, LLC

Starwood
Financial Trust

BlackRock,
Inc.

Eightfold
Real Estate Capital, L.P.

Rialto
Capital Management, LLC

KKR
Real Estate Finance Manager LLC

Rialto
Capital Advisors, LLC

 

    C-1

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