Document:

Exhibit 4.18

 

EXECUTION VERSION

 

AGREEMENT BETWEEN NOTE HOLDERS

 

Dated as of November 14, 2016

 

by and between

 

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

(Initial Note A-1 Holder)

 

and

 

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

(Initial Note A-2 Holder)

 

MY Portfolio

 

    	 

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	Section 1.	Definitions	2
	Section 2.	Servicing of the Mortgage Loan	16
	Section 3.	Priority of Payments	22
	Section 4.	Workout	23
	Section 5.	Administration of the Mortgage Loan	23
	Section 6.	Rights of the Controlling Note Holder	28
	Section 7.	Appointment of Special Servicer	31
	Section 8.	Payment Procedure	32
	Section 9.	Limitation on Liability of the Note Holders	33
	Section 10.	Bankruptcy	33
	Section 11.	Representations of the Note Holders	34
	Section 12.	No Creation of a Partnership or Exclusive Purchase Right	34
	Section 13.	Other Business Activities of the Note Holders	35
	Section 14.	Sale of the Notes	35
	Section 15.	Registration of the Notes and Each Note Holder	38
	Section 16.	Governing Law; Waiver of Jury Trial	39
	Section 17.	Submission To Jurisdiction; Waivers	39
	Section 18.	Modifications	39
	Section 19.	Statement of Intent	40
	Section 20.	Successors and Assigns; Third Party Beneficiaries	40
	Section 21.	Counterparts	40
	Section 22.	Captions	40
	Section 23.	Severability	40
	Section 24.	Entire Agreement	40
	Section 25.	Withholding Taxes	41
	Section 26.	Custody of Mortgage Loan Documents	42
	Section 27.	Cooperation in Securitization	42
	Section 28.	Notices	43
	Section 29.	Broker	44
	Section 30.	Certain Matters Affecting the Agent	44
	Section 31.	Reserved	44
	Section 32.	Resignation or Termination of Agent	44
	Section 33.	Resizing	45

 

    	-i- 

     

    

 

This AGREEMENT BETWEEN
NOTE HOLDERS (this “Agreement”), dated as of November 14, 2016 by and between UBS AG, by and through its branch
office at 1285 Avenue of the Americas, New York, New York (“UBS AG, New York Branch” (together with its successors
and assigns in interest, as initial owner of Note A-1 described below, in its capacity as the “Initial Note A-1 Holder”
and, in its capacity as the initial agent, the “Initial Agent”)) and UBS AG, New York Branch (together with
its successors and assigns in interest, as initial owner of Note A-2 described below, in its capacity as the “Initial
Note A-2 Holder”); the Initial Note A-1 Holder and the Initial Note A-2 Holder are referred to collectively herein as
the “Initial Note Holders”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
the Mortgage Loan Agreement (as defined herein), UBS AG, New York Branch 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 Mortgage Loan was
evidenced, inter alia, by a single promissory note in the maximum principal amount of $30,000,000.00 (the “Original
Promissory Note”);

 

WHEREAS, on or about
October 13, 2016, the Original Promissory Note was split into two notes pursuant to a Note Splitter Agreement between the Mortgage
Loan Borrower and UBS AG, New York Branch, each dated as of the respective dates set forth in Exhibit A hereto: (i) one promissory
note designated Promissory Note A-1 made by the Mortgage Loan Borrower in favor of UBS AG, New York Branch in the original principal
amount of $10,000,000.00 and (ii) one promissory note designated Promissory Note A-2 made by the Mortgage Loan Borrower in favor
of UBS AG, New York Branch in the original principal amount of $20,000,000.00. The note referenced in clause (i) of
the preceding sentence, as amended, modified or supplemented, is referred to herein as “Note A-1”; the note
referenced in clause (ii) of the preceding sentence, as amended, modified or supplemented, is referred to herein as
“Note A-2”. Note A-1 and Note A-2 are collectively referred to herein as the “Notes”. The
Notes are secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”) on certain real
property located as described on the Mortgage Loan Schedule (the “Mortgaged Property”);

 

WHEREAS, the Initial
Note A-1 Holder intends to sell, transfer and assign its respective right, title and interest in and to Note A-1 to Banc of America
Merrill Lynch Commercial Mortgage Inc. (“BAML”) pursuant to a Mortgage Loan Purchase Agreement expected to be
dated October 25, 2016, between BAML, as purchaser, and the Initial Note A-1 Holder, as seller, and BAML intends to transfer its
right, title and interest in and to Note A-1 to Wilmington Trust, National Association, as trustee for Morgan Stanley Bank of America
Merrill Lynch Trust 2016-C31 under a pooling and servicing agreement, expected to be dated as of November 1, 2016 (the “Note
A-1 PSA”), among BAML, as depositor, Wells Fargo Bank, National Association, as master servicer, Rialto Capital Advisors,
LLC, as special servicer, Park Bridge Lender Services LLC, as operating advisor and asset representations reviewer, Wilmington
Trust, National Association, as trustee and Wells Fargo Bank, National Association, as certificate administrator, certificate registrar,
authenticating agent and custodian;

 

    	-1- 

     

    

 

WHEREAS, the Initial
Note A-1 Holder and the Initial Note A-2 Holder 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 herein contained, the parties hereto mutually agree as follows:

 

Section
1.          Definitions. References to a “Section” or
the “recitals” are, unless otherwise specified, to a Section or the recitals of this Agreement. Capitalized terms
not otherwise defined herein shall have the meaning ascribed thereto in the Lead Securitization Servicing Agreement. Whenever
used in this Agreement, the following terms shall have the respective meanings set forth below unless the context clearly
requires otherwise. Whenever a term is defined as having the meaning set forth in the Lead Securitization Servicing Agreement
or substantially similar language, it shall be deemed to refer to the definition of such term (or if no such
definition exists, the definition of any term substantially similar thereto) as is set forth in the Lead Securitization
Servicing Agreement.

 

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

 

“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 hereto, and which is the address to which notices to and correspondence with the Agent should
be directed. The Agent may change the address of its designated office by notice to the Note Holders.

 

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

 

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

 

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

 

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

 

    	-2- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Controlling
Note” shall mean Note A-2.

 

“Controlling
Note Holder” shall mean the holder of the Controlling Note; provided that at any time the Controlling Note is
included in a Securitization, the rights of the “Controlling Note Holder” may be exercised by the holders of the majority
of the class of securities issued in the Lead Securitization designated as the “controlling class” or such other class(es)
or party otherwise assigned the rights to exercise the rights of the “Controlling Note Holder” hereunder, as and to
the extent provided in the Lead Securitization Servicing Agreement. If at any time 50% or more of the Controlling Note is held
by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, the Controlling Note Holder (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 neither the Controlling Note Holder nor any other person shall be entitled to exercise
the rights of the Controlling Note Holder (and if the Controlling Note is included in a Securitization the related Securitization
Servicing Agreement may contain additional limitations on the rights of the Controlling Note Holder that can be exercised by a
certificateholder that is the Mortgage Loan Borrower or has certain relationships with the Mortgage Loan Borrower).

 

    	-3- 

     

    

 

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

 

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

 

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

 

“Depositor”
shall mean (i) with respect to the Note A-1 Securitization, the depositor under the Note A-1 PSA and (ii) with respect
to the Note A-2 Securitization, the depositor under the Note A-2 PSA.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	-4- 

     

    

 

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

 

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

 

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

 

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

 

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

 

“Lead Securitization”
shall mean (a) if the First Securitization is also the Note A-2 Securitization, such First Securitization and (b) if the First
Securitization is not also the Note A-2 Securitization, then (i) for the period from the closing date of the First Securitization
until the Note A-2 Securitization Date, the First Securitization and (ii) on and after the Note A-2 Securitization Date, the Note
A-2 Securitization.

 

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

 

“Lead Securitization
Note” shall mean (a) during the period from and after the Note A-1 Securitization Date but prior to the Note A-2 Securitization
Date, Note A-1; and (b) on and after the Note A-2 Securitization Date, Note A-2.

 

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

 

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

 

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

 

    	-5- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Mortgage Loan
Agreement” shall mean the Loan Agreement, dated as of October 7, 2016, between UBS AG, New York Branch, as lender, and
the Mortgage Loan Borrower, as the same may be further amended, restated, supplemented or otherwise modified from time to time,
subject to the terms hereof.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Non-Controlling
Note” means Note A-1 and any New Note designated as a “Non-Controlling Note” hereunder pursuant to Section
33.

 

“Non-Controlling
Note Holder” means any holder of a Non-Controlling Note; provided that at any time such holder’s respective
Note is included in a Securitization, the consultation and other rights of the “Non-Controlling Note Holder” herein
may be exercised by

 

    	-6- 

     

    

 

the directing certificateholder under the Non-Lead Securitization Servicing Agreement or any other party assigned
the rights to exercise the rights of a “Non-Controlling Note Holder” hereunder as and to the extent provided in the
related Non-Lead Securitization Servicing Agreement and as to the identity of which the Lead Securitization Note Holder (and the
Master Servicer and the Special Servicer) has been given written notice. If at any time 50% or more of a 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) the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan
Borrower, such Non-Controlling Note Holder shall not be entitled to exercise any rights of the Non-Controlling Note Holder and
neither any Non-Controlling Note Holder nor any other person shall be entitled to exercise the rights of such Non-Controlling Note
Holder (and if the Non-Controlling Note is included in a Securitization the related Securitization Servicing Agreement shall contain
limitations on the rights of any Non-Controlling Note Holder that can be exercised by a certificateholder that is the Mortgage
Loan Borrower or has certain relationships with the Mortgage Loan Borrower).

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Non-Lead Securitization”
shall mean, on and after the Note A-2 Securitization Date, the Note A-1 Securitization.

 

    	-7- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	-8- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Note A-2 Trustee”
shall mean the trustee under the Note A-2 PSA.

 

“Note A-2 Trust
Fund” shall mean the trust formed pursuant to the Note A-2 PSA.

 

“Note Holder
Representative” shall mean a Controlling Note Holder Representative or a Non-Controlling Note Holder Representative,
as applicable (including any Lead Securitization Controlling Class Representative and any “directing certificateholder”,
“controlling class representative” or similar person acting pursuant to a Securitization Servicing Agreement on behalf
of the Controlling Note Holder or the Non-Controlling Note Holder, as the case may be).

 

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

 

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

 

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

 

    	-9- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	-10- 

     

    

 

assigned a rating to one or more classes of securities issued in connection with
the Lead Securitization, or

 

(c)         one
or more of the following:

 

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

 

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

 

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

 

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

 

    	-11- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

    	-12- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    	-13- 

     

    

 

“Required Special
Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”,
(ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special
Servicer, (iii) in the case of Moody’s, such special servicer is acting as special servicer for one or more loans included
in a commercial mortgage loan securitization that was rated by Moody’s within the twelve (12) month period prior to the date
of determination, and Moody’s has not downgraded or withdrawn the then-current rating on any class of commercial mortgage
securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as special
servicer of such commercial mortgage loans, (iv) in the case of Morningstar, such special servicer has a ranking by Morningstar
equal to or higher than “MOR CS3” as a special servicer, provided that if Morningstar has not issued a ranking with
respect to such special servicer, such special servicer is acting as special servicer in a commercial mortgage loan securitization
that was rated by a Rating Agency within the twelve (12) month period prior to the date of determination, and Morningstar has not
downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class of commercial
mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage securities,
(v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material factor in any qualification,
downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal)
of securities in a transaction serviced by such special servicer prior to the time of determination, and (vi) in the case of DBRS,
such special servicer is acting as special servicer in a commercial mortgage loan securitization that was rated by DBRS within
the twelve (12) month period prior to the date of determination and DBRS has not downgraded or withdrawn the then-current rating
on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation
of such special servicer as special servicer of such commercial mortgage securities as a material reason for such downgrade or
withdrawal.

 

“S&P”
shall mean 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.

 

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

 

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

 

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

 

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

 

    	-14- 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

“Special Servicer”
shall mean the special servicer or excluded mortgage loan special servicer, as applicable, appointed as provided in the Lead Securitization
Servicing Agreement.

 

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

 

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

 

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

 

“UBS AG, New
York Branch” shall have the meaning assigned to such term in the preamble to this Agreement.

 

“U.S. Person”
shall mean a citizen or resident of the United States, a corporation or partnership (except to the extent provided in applicable
Treasury Regulations) created or organized in or under the laws of the United States, any State thereof or the District of Columbia,
including any entity treated as a corporation or partnership for federal income tax purposes, or an estate whose income is subject
to United States federal income tax regardless of its source, or a trust if a court within the United States is able to exercise
primary supervision over the

 

    	-15- 

     

    

 

administration of such trust, and one or more such U.S. Persons have the authority to control all
substantial decisions of such trust (or, to the extent provided in applicable Treasury Regulations, a trust in existence on August
20, 1996 which is eligible to elect to be treated as a U.S. Person).

 

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 by the Master
Servicer and the Special Servicer pursuant to the terms of this Agreement and the Lead Securitization Servicing Agreement; provided
that the Master Servicer shall not be obligated to advance monthly payments of principal or interest in respect of any Note other
than the Lead Securitization Note if such principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated
to advance delinquent real estate taxes, insurance premiums and other expenses related to the maintenance of the Mortgaged Property
and maintenance and enforcement of the lien of the Mortgage thereon, subject to the terms of the Lead Securitization Servicing
Agreement. Each Note Holder acknowledges that any other Note Holder may elect, in its sole discretion, to include its Note in a
Securitization and agrees that it will, subject to Section 27, reasonably cooperate with such other Note Holder, at
such other Note Holder’s expense, to effect such Securitization. Subject to the terms and conditions of this Agreement, each
Note Holder hereby irrevocably and unconditionally consents to the appointment of the Master Servicer and the Trustee under the
Lead Securitization Servicing Agreement by the Depositor and the appointment of the Special Servicer by the Controlling Note Holder
and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect to the servicing of the Mortgage
Loan in accordance with the Lead Securitization Servicing Agreement. Each Note Holder hereby appoints the Master Servicer, the
Special Servicer and the Trustee in the Lead Securitization as such Note Holder’s attorney-in-fact to sign any documents
reasonably required with respect to the administration and servicing of the Mortgage Loan on its behalf under the Lead Securitization
Servicing Agreement (subject at all times to the rights of the Note Holder set forth herein and in the Lead Securitization Servicing
Agreement). The Lead Securitization Servicing Agreement shall not limit the Servicer in enforcing the rights of one Note Holder
against any other Note Holder as may be required in order to service the Mortgage Loan as contemplated by this Agreement and the
Lead Securitization Servicing Agreement; provided, that it is also understood and agreed that nothing in this sentence shall
be construed to otherwise limit the rights of one Note Holder with respect to any other Note Holder. Each Servicer shall be required
pursuant to the Lead Securitization Servicing Agreement (i) to service the Mortgage Loan in accordance with the Servicing
Standard, the terms of the Mortgage Loan Documents, the Lead Securitization Servicing Agreement and applicable law, (ii) to
provide information to each servicer under the Non-Lead Securitization Servicing Agreement necessary to enable each such servicer
to perform its servicing duties under such Non-Lead Securitization Servicing Agreement, and (iii) to not take any action or
refrain from taking any action or follow any direction inconsistent with the foregoing.

 

At any time that the
Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note Holders agree to
cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note Holders, pursuant
to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all
references herein to the “Lead Securitization

 

 

 

    	-16- 

     

    

 

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

 

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

 

In addition, any Non-Lead
Securitization Note Holder (including, but not limited to, any Securitization Trust into which such Non-Lead Securitization Note
is deposited) shall be required to, promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse
the Lead Securitization for such Non-Lead Securitization Note Holder’s pro rata share of any fees, costs or expenses
incurred in connection with the servicing and administration of the

 

    	-17- 

     

    

 

Mortgage Loan as to which the Master Servicer, the Special
Servicer, the Certificate Administrator, the Trustee, the Operating Advisor, the Depositor or CREFC®, as applicable,
is entitled to be reimbursed pursuant to the Lead Securitization Servicing Agreement, to the extent amounts on deposit in the related
Serviced Companion Loan Custodial Account are insufficient for reimbursement of such amounts. The Non-Lead Securitization Note
Holder agrees to indemnify (as and to the same extent the Lead Securitization Trust is required to indemnify each of the following
parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the Lead Securitization Servicing
Agreement) each of the Depositor under the Lead Securitization Servicing Agreement, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Trustee and the Operating Advisor (and any director, officer, member, manager, employee or agent
of any of the foregoing, to the extent such parties are identified as indemnified parties in the Lead Securitization Servicing
Agreement in respect of other mortgage loans) (the “Indemnified Parties”) against any claims, losses, penalties,
fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities, fees and expenses incurred in connection
with the servicing and administration of the Mortgage Loan and the Mortgaged Property (or, with respect to the Operating Advisor,
incurred in connection with the provision of services for the Mortgage Loan) under the Lead Securitization Servicing Agreement
(collectively, the “Indemnified Items”) to the extent of its pro rata share of such Indemnified Items,
and to the extent amounts on deposit in the related Serviced Companion Loan Custodial Account are insufficient for reimbursement
of such amounts, the Non-Lead Securitization Note Holder shall be required to, promptly following notice from the Master Servicer,
the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties for its pro rata share of the
insufficiency; provided, that the Non-Lead Securitization Note Holder’s duty to pay Indemnified Items to the Operating
Advisor shall be subject to any limitations and conditions (including limitations and conditions with respect to the timing of
such payments and the sources of funds for such payments) as may be set forth from time to time in the Non-Lead Securitization
Servicing Agreement with respect to the Non-Lead Operating Advisor.

 

Any Non-Lead Master Servicer
(or Non-Lead Trustee (if not made by such Non-Lead Master Servicer)) may be required to make P&I Advances on the respective
Non-Lead Securitization Note, from time to time, subject to the terms of the related Non-Lead Securitization Servicing Agreement,
the Lead Securitization Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable,
shall be entitled to make their own recoverability determination with respect to a P&I Advance to be made on the Lead Securitization
Note based on the information that they have on hand and in accordance with the Lead Securitization Servicing Agreement. Any Non-Lead
Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee under any Non-Lead Securitization Servicing Agreement, as applicable,
shall each 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 each be required to notify the other of the amount of its P&I Advance within two (2) Business Days of
making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization
Note) or the Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee, as applicable (with respect to the Non-Lead
Securitization Note), determines

 

    	-18- 

     

    

 

that a proposed P&I Advance, if made, would be non-recoverable or an outstanding P&I Advance
is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines
that a proposed Servicing Advance would be non-recoverable or an outstanding Servicing Advance is or would be non-recoverable,
then the Master Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination
of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or such Non-Lead Master Servicer or Non-Lead
Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of the a determination of non-recoverability
by the Non-Lead Master Servicer, the Non-Lead Special Servicer or the Non-Lead Trustee) shall notify the Master Servicer and the
Trustee, or the related Non-Lead Master Servicer and the related Non-Lead Trustee, as the case may be, of such other Securitization
within two (2) Business Days of making such determination. Each of the Master Servicer and the Trustee, any Non-Lead Master Servicer
and any Non-Lead Trustee, as applicable, shall only be entitled to reimbursement for a P&I Advance and Advance Interest thereon
that becomes non-recoverable first, from the related Serviced Companion Loan Custodial Account from amounts allocable to
the Note for which such P&I Advance was made, and then, if such funds are insufficient, (i) in the case of the
Lead Securitization Note, from general collections of the Lead Securitization Trust, pursuant to the terms of the Lead Securitization
Servicing Agreement and (ii) in the case of the Non-Lead Securitization Note, from general collections of the related Securitization
Trust, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement.

 

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

 

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

 

    	-19- 

     

    

 

collections in the collection account (or equivalent account) established under such Non-Lead Securitization Servicing Agreement
for such Non-Lead Securitization Note Holder’s pro rata share of any such Servicing Advances that are Nonrecoverable
Advances (and Advance Interest thereon) and/or Additional Trust Expenses;

 

(ii)       each
of the Indemnified Parties shall be indemnified (as and to the same extent the Lead Securitization Trust is required to indemnify
each of such Indemnified Parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of Lead
Securitization Servicing Agreement) by the Securitization Trust holding such Non-Lead Securitization Note, against any of the Indemnified
Items to the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit in the related
Serviced Companion Loan Custodial Account are insufficient for reimbursement of such amounts, the related Non-Lead Master Servicer
will be required to reimburse each of the applicable Indemnified Parties for its pro rata share of the insufficiency out
of general collections in the collection account (or equivalent account) established under such Non-Lead Securitization Servicing
Agreement; provided, that the Non-Lead Securitization Servicing Agreement shall be deemed to include the same limitations
and conditions on the payment or reimbursement of Indemnified Items to the Operating Advisor (including limitations and conditions
with respect to the timing of such payments or reimbursements and the sources of funds for such payments or reimbursements) as
may be set forth from time to time in the Non-Lead Securitization Servicing Agreement with respect to the Non-Lead Operating Advisor;

 

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

 

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

 

(d)         Prior
to the Securitization of any Note (including any New Note), all notices, reports, information or other deliverables required to
be delivered to a Note Holder pursuant to this Agreement or the Lead Securitization Servicing Agreement by the Lead Securitization
Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) only need to be delivered to the related Note
Holder (or its Note Holder Representative) and, when so delivered to such Note Holder (or Note Holder Representative, as applicable),
the Lead

 

    	-20- 

     

    

 

Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have
satisfied its delivery obligations with respect to such items hereunder or under the Lead Securitization Servicing Agreement. Following
the Securitization of any Note (including any New Note), as applicable, all notices, reports, information or other deliverables
required to be delivered to a Note Holder pursuant to this Agreement or the Lead Securitization Servicing Agreement by the Lead
Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be delivered to the master
servicer and the special servicer with respect to such Securitization (who then may forward such items to the party entitled to
receive such items as and to the extent provided in the related Securitization Servicing Agreement) and, when so delivered to such
master servicer and the special servicer, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting
on its behalf) shall be deemed to have satisfied its delivery obligations with respect to such items hereunder or under the Lead
Securitization Servicing Agreement; provided, however, that all items that relate to the Non-Lead Depositor’s compliance
with any applicable securities laws shall also be delivered to such Non-Lead Depositor.

 

(e)       In
addition to the foregoing, each Securitization Servicing Agreement shall contain terms and conditions that are customary for securitization
transactions involving assets similar to the Mortgage Loan and that are otherwise (i) required by the Code relating to the
tax elections of the trust fund formed pursuant to such Securitization Servicing Agreement, (ii) required by law or changes
in any law, rule or regulation or (iii) requested by the Rating Agencies rating the related Securitization. The Non-Lead Securitization
Note Holder shall have the right to designate the Non-Lead Master Servicer and Non-Lead Special Servicer with respect to the Securitization
related to its Note, as long as each such Servicer satisfies the conditions to be the master servicer or special servicer, as applicable,
set forth in the Lead Securitization Servicing Agreement. Without limiting the generality of any provision set forth above, for
purposes of the Mortgage Loan, the Lead Securitization Servicing Agreement shall contain (a) provisions requiring the Master
Servicer and the Special Servicer to maintain, or subjecting them to possible termination for not maintaining, compliance with
customary servicer rating criteria (but the rating agencies need not be the same) and, (b) provisions substantially similar in
all material respects to or materially consistent with those set forth in Note A-1 PSA with respect to (i) periodic reporting
and periodic delivery of service provider compliance documents under Regulation AB (and, in any event, shall require such reporting
and delivery so long as the Lead Securitization is required to file periodic reports under the Securities Exchange Act of 1934,
as amended), (ii) servicing transfer events that would result in the transfer of the Mortgage Loan to special servicing status,
(iii) the authority of the Controlling Note Holder (or the Master Servicer or Special Servicer on its behalf) to grant or
agree or consent to material modifications and waivers of amendments to the Mortgage Loan, or to approve material assignments and
assumptions or material additional indebtedness in connection with the Mortgage Loan, (iv) the potential termination of the
Master Servicer and Special Servicer following a Servicer Termination Event, (v) requirements to obtain an appraisal or appraisal
update following a transfer of the Mortgage Loan to special servicing status and periodic updates thereof, (vi) duties of
the Special Servicer in respect of foreclosure and the management of REO property, (vii) primary servicing fees, (viii) subject
to certain applicable caps and floor provisions, special servicing, workout and liquidation fees (and, in any event, the fees at
which such compensation accrue or are determined shall not exceed 0.25% (or, if such rate would result in a special servicing fee
that would be less than $3,500 in any given month, such higher rate as would result

 

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in a special servicing fee equal to $3,500),
1.00% and 1.00%, respectively) and (ix) indemnification of the Depositor, Master Servicer, Special Servicer, Certificate Administrator,
Trustee and Operating Advisor under the Lead Securitization Servicing Agreement (and any director, officer, employee or agent of
any of the foregoing, to the extent such parties are identified as indemnified parties in the Lead Securitization Servicing Agreement
in respect of other mortgage loans) against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments
and any other costs, liabilities, fees and expenses incurred in connection with servicing and administration of the Mortgage Loan
(or, with respect to the related operating advisor, incurred in connection with the provision of services for the Mortgage Loan)
to the same extent that the Indemnified Parties are indemnified under the Lead Securitization Servicing Agreement against the Indemnified
Items; provided, that (A) this statement shall not be construed to prohibit differences in timing, control or consultation
triggers or thresholds, terminology, allocation of ministerial duties between multiple servicers or other service providers or
certificateholder or investor voting or consent thresholds, or to prohibit or restrict additional approval, consent, consultation,
notice or rating agency communication and rating agency confirmation requirements; and (B) if there is any conflict between this
sentence and any other provision of this Agreement, such other provision of this Agreement shall control.

 

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

 

Section
3.          Priority of Payments. Each Note shall be of equal
priority, and no portion of any Note shall have priority or preference over any portion of any other Note or security
therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with respect to or in
connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds thereof, whether received in the
form of Scheduled Interest Payments, Scheduled Principal Payments, any proceeds from the sale or distribution of any REO
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), shall be applied
by the Lead Securitization Note Holder (or its designee) to the Notes on a Pro Rata and Pari Passu Basis; provided,
that (x) all amounts for required reserves or escrows required by the Mortgage Loan Documents (to the extent and in
accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows or received as reimbursements on
account of recoveries in respect of property protection expenses or Servicing Advances then due and payable or reimbursable
to the Trustee or any Servicer under the Lead Securitization Servicing Agreement shall be applied to the extent set forth in,
and in accordance with the terms of, the Mortgage Loan Documents; and (y) all amounts that are then due, payable or
reimbursable to any Servicer with respect to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement and
any other additional compensation payable to it

 

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

 

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

 

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

 

Section 5.          Administration
of the Mortgage Loan.

 

(a)       Subject
to this Agreement (including, without limitation, 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

 

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

 

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

 

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connection with making such determination. Notwithstanding the foregoing, the Lead Securitization Note Holder
(or the Special Servicer acting on its behalf) shall not be permitted to sell the Mortgage Loan without the written consent of
the Non-Lead Securitization Note Holder (unless with respect to the Non-Lead Securitization Note Holder, 50% or more of the related
Note (or the class of securities issued in the Non-Lead Securitization designated as the “controlling class” or such
other class(es) otherwise assigned the rights to exercise the rights of the “Controlling Note Holder” is held by the
Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower) unless the Special Servicer has delivered to the Non-Lead
Securitization Note Holder: (a) at least fifteen (15) Business Days prior written notice of any decision to attempt to sell
the Mortgage Loan; (b) at least ten (10) days prior to the proposed sale date, a copy of each bid package (together with any
amendments to such bid packages) received by the Special Servicer in connection with any such proposed sale; (c) at least
ten (10) days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and any documents in
the Servicer Mortgage File requested by such Non-Lead Securitization Note Holder; and (d) until the sale is completed, and
a reasonable period of time (but no less time than is afforded to other offerors and the related Lead Securitization Controlling
Class Representative prior to the proposed sale date, all information and other documents being provided to other offerors and
all leases or other documents that are approved by the Master Servicer or the Special Servicer in connection with the proposed
sale; provided, that such Non-Lead Securitization Note Holder may waive any of the delivery or timing requirements set forth in
this sentence. Subject to the foregoing, each Note Holder or its Note Holder Representative shall be permitted to submit an offer
at any sale of the Mortgage Loan unless such Person is the Mortgage Loan Borrower or an agent or Affiliate of the Mortgage Loan
Borrower.

 

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

 

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

 

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

 

(b)       The
administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The servicing
of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan
(or to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant
to the Lead Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein, in accordance with the
Lead Securitization Servicing Agreement, the Lead Securitization Note Holder shall cause the Master Servicer and the Special Servicer
to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests of each
Note Holder. The Note Holders agree to be bound by the terms of the Lead Securitization Servicing Agreement. All rights and obligations
of the Lead Securitization Note Holder described hereunder may be exercised by the Master Servicer, the Special Servicer, the Certificate
Administrator or the Trustee on behalf of the Lead Securitization Note Holder to the extent set forth in the Lead Securitization
Servicing Agreement. The Lead Securitization Servicing Agreement shall not be amended in any manner that may adversely affect any
Non-Lead Securitization Note Holder in its capacity as Non-Lead Securitization Note Holder without such Non-Lead Securitization
Note Holder’s prior written consent. The Non-Lead Securitization Note Holder (unless it is the same Person as, or is an Affiliate
of, the Mortgage Loan Borrower) shall be a third-party beneficiary to the Lead Securitization Servicing Agreement with respect
to its rights as specifically provided for therein.

 

(c)       Notwithstanding
the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall
be required (i) to provide copies of any notice, information and report that it is required to provide to the Lead Securitization
Controlling Class Representative pursuant to the Lead Securitization Servicing Agreement with respect to any Major Decisions or
the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, to the Non-Lead
Securitization Note Holder (or its Note Holder Representative), within the same time frame it is required to provide to the Lead
Securitization Controlling Class Representative (for this purpose, without regard to whether such items are actually required to
be provided to the Lead Securitization Controlling Class Representative under the Lead Securitization Servicing Agreement due to
the expiration of the related “Subordinate Control Period” (as defined under the Lead Securitization Servicing Agreement)
or the “Collective Consultation Period” (as defined under the Lead Securitization Servicing Agreement)) and (ii) to
use reasonable efforts to consult with each Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) on
a strictly non-binding basis, to the extent having received such notices, information and reports, such Non-Controlling Note Holder
(or its Non-Controlling Note Holder Representative) requests consultation with respect to any such Major Decisions or the implementation
of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, and consider alternative actions recommended
by such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative); provided that after the expiration
of

 

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a period of ten (10) Business Days from the delivery to such Non-Controlling Note Holder (or its Non-Controlling Note Holder
Representative) by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) of
written notice of a proposed action, together with copies of the notice, information and report required to be provided to the
Lead Securitization Controlling Class Representative, the Lead Securitization Note Holder (or the Master Servicer or the Special
Servicer acting on its behalf) shall no longer be obligated to consult with such Non-Controlling Note Holder (or its Non-Controlling
Note Holder Representative), whether or not such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative)
has responded within such ten (10) Business Day period (unless, the Lead Securitization Note Holder (or the Master Servicer or
the Special Servicer acting on its behalf) proposes a new course of action that is materially different from the action previously
proposed, in which case such ten (10) Business Day period shall be deemed to begin anew from the date of such proposal and delivery
of all information relating thereto). Notwithstanding the consultation rights of each Non-Controlling Note Holder (or 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 the Non-Controlling Note Holder (or its
Non-Controlling Note Holder Representative).

 

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

 

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

 

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provisions of
this paragraph shall be effected by compliance with any REMIC related provisions in the Lead Securitization Servicing Agreement
relating to the administration of the Mortgage Loan. All costs and expenses of compliance with this Section 5(d), to the
extent that such costs and expenses relate to administration of a REMIC or to any determination respecting the amount, payment
or avoidance of any tax under the REMIC Provisions or the actual payment of any REMIC tax or expense, shall be borne by all of
the Note Holders collectively, each contributing on a pro rata and pari passu basis according to the Percentage Interest
represented by each Note.

 

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 any other Note Holder
be reduced to offset or make-up any such payment or deficit.

 

Section 6.          Rights
of the Controlling Note Holder.

 

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

 

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information from the Controlling Note Holder. The Controlling Note Holder agrees to inform each such Servicer or Trustee
of the then-current Controlling Note Holder Representative.

 

(b)       The
Controlling Note Holder shall be entitled to exercise the rights and powers granted to the Controlling Note hereunder and the rights
and powers granted to the Lead Securitization Controlling Class Representative with respect to the Mortgage Loan (assuming that
a “Subordinate Control Period” or similar period under, and as defined in, the Lead Securitization Servicing Agreement
is in effect). In addition, the Controlling Note Holder shall be entitled to advise (1) the Special Servicer with respect to all
matters related to the Mortgage Loan if it is a Specially Serviced 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 implement any Major Decision unless it has obtained the prior written consent
of the Special Servicer and (ii) the Special Servicer shall not be permitted to consent to the Master Servicer’s implementing
any Major Decision nor will the Special Servicer itself be permitted to implement any Major Decision as to which the Controlling
Note Holder has objected in writing within ten (10) Business Days (or thirty (30) days with respect to an Acceptable Insurance
Default) after receipt of the written recommendation and analysis and such additional information requested by the Controlling
Note Holder as may be necessary in the reasonable judgment of the Controlling Note Holder in order to make a judgment with respect
to such Major Decision. The Controlling Note Holder may also direct the Special Servicer to take, or to refrain from taking, such
other actions with respect to the Mortgage Loan as the Controlling Note Holder may deem advisable.

 

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

 

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

 

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

 

(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 (with respect to such Note Holder, the “Non-Controlling Note
Holder Representative”). All of the provisions relating to the Controlling Note Holder and the Controlling Note Holder
Representative set forth in the first paragraph of this Section 6(a) (except those contained in the last sentence
thereof) and the second paragraph of this Section 6(a) shall apply to each Non-Controlling Note Holder and its
Non-Controlling Note Holder Representative mutatis mutandis. Each Non-Controlling Note Holder Representative, as of the
date of this Agreement and until the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) is notified
otherwise, shall be the Initial Note A-2 Holder, provided that at any time the Non-Lead Securitization Note is included
in a Securitization, references to the “Non-Controlling Note Holder” herein shall mean the related “Directing
Certificateholder”, “Directing Holder” or “Controlling Class Representative” (or analogous term)
under the Non-Lead Securitization or any other party assigned the rights to exercise the rights of the related “Non-Controlling
Note Holder” hereunder, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement and as to
the identity of which the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer) has been given written
notice.

 

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

 

(d)       The
Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall not be required at
any time to deal with more than one party as the representative of the “controlling class” holder(s) in respect of
any Note that is exercising the rights of a “Non-Controlling Note Holder” herein or under the Lead Securitization Servicing
Agreement (it being understood for the avoidance of doubt that the Lead Securitization Note Holder (or the Master Servicer or Special
Servicer on its behalf) may additionally need to deal with the master servicer, special servicer or other person party to the related
Securitization Servicing Agreement) and to the extent that the related Securitization Servicing Agreement assigns such rights to
more than one such party as the representative of the “controlling class” holder(s), for purposes of this Agreement,
such Securitization Servicing Agreement shall designate one such party to deal with the Lead Securitization Note Holder (or the
Master Servicer or the Special Servicer acting on its behalf) as the representative of the related “controlling class”
holder(s) in exercising its rights as a “Non-Controlling Note Holder” herein or under the Lead Securitization Servicing
Agreement, and such party shall provide written

 

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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 applicable Non-Controlling Note Holder,
as the applicable Non-Controlling Note Holder under this Agreement.

 

(e)       No
Note Holder Representative will have any liability to any other Note Holder or any other Person for any action taken, or for refraining
from the taking of any action or the giving of any consent or the failure to give any consent pursuant to this Agreement or any
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 a Note Holder Representative 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
any Note Holder Representative may have special relationships and interests that conflict with the interests of any other Note
Holder and, absent willful malfeasance, bad faith or gross negligence on the part of the Note Holder Representative, agree to take
no action against the Note Holder Representative or any of its officers, directors, employees, principals or agents as a result
of such special relationships or interests, and that no Note Holder Representative will be deemed to have been grossly negligent
or reckless, or to have acted in bad faith or engaged in willful malfeasance or to have recklessly disregarded any exercise of
its rights by reason of its having acted or refrained from acting, or having given any consent or having failed to give any consent,
solely in the interests of any Note Holder.

 

Section
7.          Appointment of Special Servicer. The Controlling Note
Holder (or its Controlling Note Holder Representative) shall have the right (subject to the terms, conditions and limitations
in the Lead Securitization Servicing Agreement) at any time and from time to time, with or without cause, to replace the
Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement Special Servicer in lieu thereof.
Any designation by the Controlling Note Holder (or its Controlling Note Holder Representative) of a Person to serve as
Special Servicer shall be made by delivering to each other Note Holder, the Master Servicer, the Special Servicer and each
other party to the Lead Securitization Servicing Agreement a written notice stating such designation and satisfying the other
conditions to such replacement as set forth in the Lead Securitization Servicing Agreement (including, without limitation, a
Rating Agency Communication or a Rating Agency Confirmation, but only if required by the terms of the Lead Securitization
Servicing Agreement), if any. The Controlling Note Holder shall be solely responsible for any expenses incurred in connection
with any such replacement without cause. The Controlling Note Holder shall notify the other parties hereto of its termination
of the then currently serving Special Servicer and its appointment of a replacement Special Servicer in accordance with this Section 7.
If the Controlling Note Holder has not appointed a Special Servicer with respect to the Mortgage Loan as of the consummation
of the securitization under the Lead Securitization Servicing Agreement, then the initial Special Servicer designated in the
Lead Securitization Servicing Agreement shall serve as the initial Special Servicer but this shall not limit the right of the
Controlling Note Holder (or its Controlling Note Holder Representative) to designate a replacement Special Servicer for the
Mortgage Loan as aforesaid. If a Servicer Termination Event on the part of the Special Servicer has occurred that affects any
Non-Controlling Note Holder, such Non-Controlling Note Holder shall have the right to direct the

 

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Trustee (or at any time that
the Mortgage Loan is no longer included in a Securitization Trust, the Controlling Note Holder) to terminate the Special
Servicer under the Lead Securitization Servicing Agreement solely with respect to the Mortgage Loan pursuant to and in
accordance with the terms of the Lead Securitization Servicing Agreement. Each Note Holder acknowledges and agrees that any
successor special servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that was terminated
for cause at a Non-Controlling Note Holder’s direction cannot at any time be the person (or an Affiliate thereof) that
was so terminated without the prior written consent of such Non-Controlling Note Holder. Each Non-Controlling Note Holder
shall be solely responsible for reimbursing the Trustee’s or the Controlling Note Holder’s, as applicable, costs
and expenses, if not paid within a reasonable time by the terminated special servicer and, in the case of the Trustee, that
would otherwise be reimbursed to the Trustee from amounts on deposit in the Lead Securitization’s collection account
(or equivalent account).

 

Section
8.          Payment Procedure.

 

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

 

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

 

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(c)       If,
for any reason, the Lead Securitization Note Holder (or the Servicer acting on its behalf) makes any payment to any Non-Lead Securitization
Note Holder before the Lead Securitization Note Holder (or the Servicer acting on its behalf) 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 (or the Servicer acting on its behalf) does not receive the corresponding payment within five (5) Business Days of its payment
to such Non-Lead Securitization Note Holder, such Non-Lead Securitization Note Holder shall, at the Lead Securitization Note Holder’s
(or the Servicer acting on its behalf) request, promptly return that payment to the Lead Securitization Note Holder (or the Servicer
acting on its behalf).

 

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

 

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

 

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

 

Section
10.          Bankruptcy. Subject to Section 5(c), each
Note Holder hereby covenants and agrees that only the Lead Securitization Note Holder (or the Servicer on its behalf) has the
right to institute, file, commence, acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any
Person in any such petition or otherwise invoke or cause any other Person to invoke an Insolvency Proceeding with respect to
or against the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator
or other similar official with respect to the Mortgage Loan Borrower or all or any part of its

 

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property or assets or ordering the winding-up or
liquidation of the affairs of the Mortgage Loan Borrower. Each Note Holder further agrees that only the Lead Securitization Note
Holder, and not any Non-Lead Securitization Note Holder, can make any election, give any consent, commence any action or file any
motion, claim, obligation, notice or application or take any other action in any case by or against the Mortgage Loan Borrower
under the Bankruptcy Code or in any other Insolvency Proceeding. The Note Holders hereby appoint the Lead Securitization Note Holder
as their agent, and grant to the Lead Securitization Note Holder an irrevocable power of attorney coupled with an interest, and
their proxy, for the purpose of exercising any and all rights and taking any and all actions available to any Non-Lead Securitization
Note Holder in connection with any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency
Proceeding, including, without limitation, the right to file and/or prosecute any claim, vote to accept or reject a plan, to make
any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage Loan, and to file a motion to modify,
lift or terminate the automatic stay with respect to the Mortgage Loan. The Note Holders hereby agree that, upon the request of
the Lead Securitization Note Holder, the Non-Lead Securitization Note Holder shall execute, acknowledge and deliver to the Lead
Securitization Note Holder all and every such further deeds, conveyances and instruments as the Lead Securitization Note Holder
may reasonably request for the better assuring and evidencing of the foregoing appointment and grant. All actions taken by any
Servicer in connection with any Insolvency Proceeding are subject to and must be in accordance with the Servicing Standard and
the terms of this Agreement.

 

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

 

Section
12.          No Creation of a Partnership or Exclusive Purchase
Right. Nothing contained in this Agreement, and no action taken pursuant hereto shall be deemed to constitute the
relationship created hereby between the Note Holders as a partnership, association, joint venture or other entity. The Lead
Securitization Note Holder shall have no obligation

 

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whatsoever to offer to any Non-Lead Securitization Note Holder the opportunity to purchase a participation interest in any future
loans originated by the Lead Securitization Note Holder or its Affiliates and if the Lead Securitization Note Holder chooses to
offer to any Non-Lead Securitization Note Holder the opportunity to purchase a participation interest in any future mortgage loans
originated by the Lead Securitization Note Holder or its Affiliates, such offer shall be at such purchase price and interest rate
as the Lead Securitization Note Holder chooses, in its sole and absolute discretion. The Non-Lead Securitization Note Holder shall
not have any obligation whatsoever to purchase from the Lead Securitization Note Holder a participation interest in any future
loans originated by the Lead Securitization Note Holder or its Affiliates.

 

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

 

Section 14.          Sale
of the Notes.

 

(a)       Each
Note Holder agrees that it will not sell, assign, transfer, pledge, syndicate, hypothecate, contribute, encumber or otherwise dispose
of all or any portion of its respective Note (or a participation interest in such Note) (a “Transfer”) except
to a Qualified Institutional Lender in accordance with the terms of this Agreement. Promptly after any such Transfer, any non-transferring
Note Holders shall be provided with (x) a representation from each transferee or the transferring Note Holder certifying that such
transferee is a Qualified Institutional Lender (except in the case of a Transfer in accordance with the immediately following sentence
or a Transfer by a Note Holder to an entity that constitutes a Qualified Institutional Lender pursuant to clause (c)(iii) of the
definition thereof) and (y) a copy of the assignment and assumption agreement referred to in Section 15 (unless
the transferee is a Securitization Trust and the related pooling and servicing agreement requires the parties thereto to comply
with this Agreement). If a Note Holder intends to Transfer its respective Note, or any portion thereof, to an entity that is not
a Qualified Institutional Lender, it must first obtain the consent of each non-transferring Note Holder and, if any such non-transferring
Note Holder’s Note is held in a Securitization Trust, obtain a Rating Agency Confirmation from each of the applicable engaged
Rating Agencies for such Securitization Trust. Notwithstanding the foregoing, without each non-transferring Note Holder’s
prior consent (which will not be unreasonably withheld), and, if any such non-transferring Note Holder’s Note is held in
a Securitization Trust, without a Rating Agency from each of the applicable engaged Rating Agencies for such Securitization, no
Note Holder shall Transfer all or any portion of its Note (or a participation interest in such Note) to the Mortgage Loan Borrower
or a Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely null and void and shall vest no rights in the
purported transferee. The transferring Note Holder agrees that it shall pay the expenses of any non-transferring Note Holder (including
all expenses of the Master Servicer, the

 

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Special Servicer, the Trustee and any Controlling Note Holder or Controlling Note Holder
Representative) and all expenses relating to the confirmation from the Rating Agencies in connection with any such Transfer. Notwithstanding
the foregoing, unless the related Note is included in a Securitization, each Note Holder shall have the right, without the need
to obtain the consent of any other Note Holder, the Rating Agencies or any other Person, to Transfer 49% or less (in the aggregate)
of its beneficial interest in a Note. None of the provisions of this Section 14(a) shall apply in the case of (1) a sale of Note
A-1 together with Note A-2, in accordance with the terms and conditions of the Lead Securitization Servicing Agreement or (2) a
transfer by the Special Servicer, in accordance with the terms and conditions of the Lead Securitization Servicing Agreement, of
the Mortgage Loan or the Mortgaged Property, upon the Mortgage Loan becoming a Defaulted Loan, to a single member limited liability
or limited partnership, 100% of the equity interest in which is owned directly or indirectly, through one or more single member
limited liability companies or limited partnerships, by the Lead Securitization Trust.

 

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

 

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

 

(c)       Notwithstanding
any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any entity (other than the Mortgage
Loan Borrower or any Affiliate thereof) which has extended a credit or repurchase 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

 

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Note Pledgee),
each other Note Holder agrees to acknowledge receipt of such notice and thereafter agrees: (i) to give Note Pledgee written
notice of any default by the pledging Note Holder in respect of its obligations under this Agreement of which default such Note
Holder has actual knowledge; (ii) to allow such Note Pledgee a period of ten (10) days to cure a default by the pledging Note
Holder in respect of its obligations to each other Note Holder hereunder, but such Note Pledgee shall not be obligated to cure
any such default; (iii) that no amendment, modification, waiver or termination of this Agreement shall be effective against
such Note Pledgee without the written consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned
or delayed; (iv) that such other Note Holder shall give to such Note Pledgee copies of any notice of default under this Agreement
simultaneously with the giving of same to the pledging Note Holder 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; (v) that such other Note Holder shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably
request, provided that any such certificate(s) shall be in a form reasonably satisfactory to such other Note Holder; and
(vi) that, upon written notice (a “Redirection Notice”) to each other Note Holder and any Servicer by such
Note Pledgee that the pledging Note Holder is in default, beyond any applicable cure periods, under the pledging Note Holder’s
obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging Note Holder and such Note Pledgee
(which notice need not be joined in or confirmed by the pledging Note Holder), and until such Redirection Notice is withdrawn or
rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that any Note Holder or Servicer would otherwise
be obligated to pay to the pledging Note Holder from time to time pursuant to this Agreement or the Lead Securitization Servicing
Agreement. Any pledging Note Holder hereby unconditionally and absolutely releases each other Note Holder and any Servicer from
any liability to the pledging Note Holder on account of such other Note Holder’s or Servicer’s compliance with any
Redirection Notice believed by any Servicer or such other Note Holder to have been delivered by a Note Pledgee. Note Pledgee shall
be permitted to exercise fully its rights and remedies against the pledging Note Holder to such Note Pledgee (and accept an assignment
in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement. In such event, the Note Holders
and any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage Loan Borrower or any Affiliate thereof
which is also a Qualified Institutional Lender at any foreclosure or similar sale held by such Note Pledgee or any transfer in
lieu of foreclosure), and its successor and assigns, as the successor to the pledging Note Holder’s rights, remedies and
obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender shall assume in writing the obligations
of the pledging Note Holder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such
Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 14(c)
shall remain effective as to any Note Holder (and any Servicer) unless and until such Note Pledgee shall have notified any such
Note Holder (and any Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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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 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

 

    	-39- 

     

    

 

modify this Agreement without first delivering
a Rating Agency Communication to each Rating Agency then rating any securities of any Securitization; 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) with respect to matters or questions arising under this Agreement to make provisions of this Agreement consistent
with other provisions of this Agreement (including without limitation, in connection with the creation of New Notes pursuant to
Section 33).

 

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

 

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

 

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

 

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

 

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

 

Section
24.          Entire Agreement. This Agreement constitutes the entire
agreement between the parties hereto with respect to the subject matter contained in this

 

    	-40- 

     

    

 

Agreement and supersedes all
prior agreements, understandings and negotiations between the parties.

 

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

 

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

 

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

 

    	-41- 

     

    

 

the
Lead Securitization Note Holder an Internal Revenue Service Form W-9 and (ii) if a Note Holder is not created or organized
under the laws of the United States, any state thereof or the District of Columbia, and if the payment of interest or other amounts
by the Mortgage Loan Borrower is treated for United States income tax purposes as derived in whole or part from sources within
the United States, such Note Holder shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization
Note Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments), Form W-8BEN or Form W-8BEN-E, or
successor forms, as may be required from time to time, duly executed by such Note Holder, as evidence of such Note Holder’s
exemption from the withholding of United States tax with respect thereto. The Lead Securitization Note Holder shall not be obligated
to make any payment hereunder with respect to any Non-Lead Securitization Note or otherwise until the holder of such Note shall
have furnished to the Lead Securitization Note Holder requested forms, certificates, statements or documents.

 

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

 

Section
27.          Cooperation in Securitization.

 

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

 

    	-42- 

     

    

 

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

 

(b)       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.

 

(c)       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 at the Non-Lead
Securitization Note Holder’s expense with such Non-Lead Asset Representations Reviewer in connection with such Asset Review
by providing such Non-Lead Asset Representations Reviewer with any documents reasonably requested by such Non-Lead Asset Representations
Reviewer, but only to the extent that such documents are in the possession of the Master Servicer, the Special Servicer, the Trustee
or the Custodian, as the case may be, and are not in the possession of the Non-Lead Asset Representations Reviewer (and the Non-Lead
Asset Representations Reviewer has informed such party that it has first requested, and not received, the documents from the master
servicer, special servicer and custodian for the Non-Lead Securitization).

 

Section
28.          Notices. All notices required hereunder shall be given
by (i) telephone (confirmed promptly in writing) or shall be in writing and personally delivered, (ii) sent by facsimile
transmission (during business hours) if the sender on the same day sends a confirming copy of such notice by reputable
overnight delivery service (charges prepaid), (iii) reputable overnight delivery service (charges prepaid) or
(iv) certified United States mail, postage prepaid return receipt requested, and addressed to the respective parties at
their addresses

 

    	-43- 

     

    

 

set forth
on Exhibit B hereto, or at such other address as any party shall hereafter inform the other party by written notice given
as aforesaid. All written notices so given shall be deemed effective upon receipt.

 

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

 

Section
30.          Certain Matters Affecting the Agent.

 

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

 

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

 

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

 

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

 

(e)       The
Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate or assignment
and assumption agreement delivered to the Agent pursuant to Section 15;

 

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

 

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

 

Section 31.          Reserved.

 

Section
32.          Resignation or Termination of Agent. The Agent may
resign at any time on ten (10) days’ prior notice, so long as a successor Agent, reasonably satisfactory to the Note
Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a Securitization is satisfactory to
the Note Holders), has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. UBS AG, New York
Branch, 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

 

    	-44- 

     

    

 

Securitization, the Master Servicer shall be deemed to
have been automatically appointed as the successor Agent under this Agreement in place of UBS AG, New York Branch without
any further notice or other action. The termination or resignation of such Master Servicer, as Master Servicer under the Lead
Securitization Servicing Agreement, shall be deemed a termination or resignation of such Master Servicer as Agent under this
Agreement, and any successor master servicer shall be deemed to have been automatically appointed as the successor Agent
under this Agreement in place thereof without any further notice or other action.

 

Section
33.          Resizing. Notwithstanding any other provision of this
Agreement, for so long as any Note Holder or an affiliate thereof (each, a “Resizing Entity”) is the owner
of any Non-Lead Securitization Note (each, an “Owned Note”), such Resizing Entity shall have the right,
subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and
restated notes or additional notes (in each case, as applicable “New Notes”) reallocating the principal of
an Owned Note to such New Notes; or severing an Owned Note into one or more further “component” notes in the
aggregate principal amount equal to the then outstanding principal balance of such Owned Note provided that
(i) the aggregate principal balance of all outstanding New Notes following such amendments is no greater than the
aggregate principal of such Owned Note prior to such amendments, (ii) all Notes continue to have the same weighted
average interest rate as the Notes prior to such amendments, (iii) all Notes pay pro rata and on a pari
passu basis and such reallocated or component notes shall be automatically subject to the terms of this Agreement, and
(iv) the Resizing 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 Resizing Entity holding the New Notes (and any subsequent
holder of such Notes) shall execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so
modified. Except for the foregoing reallocation and for modifications pursuant to the Lead Securitization Servicing Agreement
(as discussed in Section 5), no Note may be modified or amended without the consent of its holder and the consent
of the holder of each other Note. In connection with the foregoing (provided the conditions set forth in clauses
(i) through (iv) above are satisfied, with respect to clauses (i) through (iv), as certified by the Resizing
Entity, on which certification the Master Servicer can rely), the Master Servicer is hereby authorized and directed to
execute amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of the Note Holders, as
applicable, solely for the purpose of reflecting such reallocation of principal and that each New Note shall be a
“Note” hereunder and for 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
hereunder, the “Controlling Note Holder” or “Non-Controlling Note Holder”, as applicable, shall be as
provided in the definitions of such terms in this Agreement; provided that the Controlling Note Holder shall be entitled to
designate any New Note created from the existing Controlling Note to be a Non-Controlling Note hereunder.

 

[SIGNATURE PAGE FOLLOWS]

 

    	-45- 

     

    

 

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

 

	 	UBS AG, as Initial Note A-1 Holder
	 	 	 
	 	By:	/s/ Jared Randall
			Name:    Jared Randall

Title:      Authorized Signatory

 

	 	By:	/s/ Mary Kunka
			Name:  Mary Kunka

Title:    Authorized Signatory

 

	 	UBS AG, as Initial Note A-2 Holder
	 	 	 
	 	By:	/s/ Jared Randall
			Name:    Jared Randall

Title:     Authorized Signatory

 

	 	By:	/s/ Mary Kunka
			Name:  Mary Kunka

Title:    Authorized Signatory

 

MY
Portfolio Agreement Between Note Holders

 

    	 

     

    

 

EXHIBIT A

 

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan

 

	Mortgage Loan Borrower(s):	Gonzales Lodging LLC, Lakshmi, LLC, Lakshmi Hospitality LLC, Lakshmi Of Covington LLC, Lakshmi Sarkar LLC and Lakshmi Vicksburg Inc.
	Date of Mortgage Loan:	October 7, 2016
	Date of Original Note:	October 7, 2016
	Date of Note A-1:	October 13, 2016
	Date of Note A-2:	October 13, 2016
	Original Principal Amount of Mortgage Loan:	$30,000,000
	Promissory Note A-1 Principal Balance:	$10,000,000
	Promissory Note A-2 Principal Balance:	$20,000,000
	Location of Mortgaged Properties:	
        Covington, Louisiana

        Vicksburg, Mississippi

        New Orleans, Louisiana

        

        Gonzales, Louisiana

        

        Vicksburg, Mississippi

        

        Slidell, Louisiana

        

	Initial Maturity Date:	October 6, 2026

  

    	A-1 

     

    

 

EXHIBIT B

 

1.           Initial Note
A-1 Holder:

 

(Prior to Securitization of Note A-1):

 

To UBS AG, New York Branch:

 

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

 

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

 

2.            Initial Note
A-2 Holder:

 

(Prior to Securitization of Note A-2):

 

To UBS AG, New York Branch:

 

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

 

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

 

    	B-1 

     

    

 

EXHIBIT C

PERMITTED FUND MANAGERS

 

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

 

    	C-1Exhibit 4.19

 

 

Execution Copy

 

WELLS FARGO BANK,

NATIONAL ASSOCIATION,

Master Servicer

 

and

 

KEYBANK NATIONAL ASSOCIATION,

Primary Servicer

 

PRIMARY SERVICING AGREEMENT

Dated as of November 1, 2016

 

Morgan Stanley Bank of America Merrill Lynch
Trust 2016-C31,

Commercial Mortgage Pass-Through Certificates

Series 2016-C31

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	 	 	Page
	ARTICLE I	DEFINITIONS	 	1
	 	Section 1.01	Defined Terms	1
	ARTICLE II	MASTER SERVICER’S ENGAGEMENT OF PRIMARY SERVICER TO PERFORM SERVICING RESPONSIBILITIES	2
	 	Section 2.01	Contract for Servicing; Possession of Mortgage Loan Documents	2
	 	Section 2.02	Notice of Breach of Representations and Warranties	3
	ARTICLE III	SERVICING OF THE MORTGAGE LOANS	3
	 	Section 3.01	Primary Servicer to Service	3
	 	Section 3.02	Merger or Consolidation of the Primary Servicer	16
	 	Section 3.03	Limitation on Liability of the Primary Servicer and Others	16
	 	Section 3.04	Primary Servicer Not to Resign	17
	 	Section 3.05	No Transfer or Assignment of Servicing	17
	 	Section 3.06	Indemnification	18
	ARTICLE IV	DEFAULT	18
	 	Section 4.01	Events of Default	18
	 	Section 4.02	Waiver of Defaults	21
	 	Section 4.03	Other Remedies of Master Servicer	21
	ARTICLE V	TERMINATION	21
	 	Section 5.01	Termination	22
	 	Section 5.02	Termination With Cause	22
	 	Section 5.03	Termination of Duties with Respect to Specially Serviced Loans	22
	ARTICLE VI	MISCELLANEOUS	22
	 	Section 6.01	Successor to the Primary Servicer	22
	 	Section 6.02	Financial Statements	23
	 	Section 6.03	Closing	23
	 	Section 6.04	Closing Documents	23
	 	Section 6.05	Notices	24

 

    ii 

     

    

 

	TABLE OF CONTENTS
	(continued)
	 
	 	 	Page
	Section 6.06	Severability Clause	25
	Section 6.07	Counterparts	25
	Section 6.08	Governing Law	25
	Section 6.09	Protection of Privileged Information	25
	Section 6.10	Intention of the Parties	25
	Section 6.11	Third Party Beneficiary	26
	Section 6.12	Successors and Assigns; Assignment of Agreement	26
	Section 6.13	Waivers	26
	Section 6.14	Exhibits	26
	Section 6.15	General Interpretive Principles	26
	Section 6.16	Complete Agreement	26
	Section 6.17	Further Agreement	27
	Section 6.18	Amendments	27

 

    iii 

     

    

 

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

 

    iv 

     

    

 

This is a Primary Servicing
Agreement (the “Agreement”), dated as of November 1, 2016, by and between KEYBANK NATIONAL ASSOCIATION, having
an office at 11501 Outlook Street, Suite 300, Overland Park, Kansas 66211, and its successors and assigns (the “Primary
Servicer”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, having an office at MAC D1050-084, Three Wells Fargo, 401 South
Tryon Street, 8th Floor, Charlotte, North Carolina 28202, and its successors and assigns (the “Master Servicer”).

 

WITNESSETH:

 

WHEREAS, Banc of America
Merrill Lynch Commercial Mortgage Inc., as depositor (the “Depositor”), Rialto Capital Advisors, LLC, as special
servicer (the “Special Servicer”), Wilmington Trust, National Association, as trustee (the “Trustee”),
Wells Fargo Bank, National Association, as certificate administrator (the “Certificate Administrator”), Park
Bridge Lender Services LLC, as operating advisor (in such capacity, the “Operating Advisor”) and as asset representations
reviewer (in such capacity, the “Asset Representations Reviewer”), and the Master Servicer have entered into
that certain Pooling and Servicing Agreement dated as of November 1, 2016, as amended, modified and restated from time to time
(the “Pooling and Servicing Agreement”), whereby the Master Servicer shall service certain mortgage loans on
behalf of the Trustee;

 

WHEREAS, Section
3.20 of the Pooling and Servicing Agreement authorizes the Master Servicer to enter into this agreement with the Primary Servicer
whereby the Primary Servicer shall service the mortgage loan or mortgage loans, as applicable, listed on Exhibit A
(the “Mortgage Loan Schedule”) attached hereto (herein referred to as the “Mortgage Loans”)
on behalf of the Master Servicer.

 

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

 

ARTICLE I

 

DEFINITIONS

 

Section
1.01          
Defined Terms.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

ARTICLE II

 

MASTER SERVICER’S ENGAGEMENT OF PRIMARY
SERVICER

TO PERFORM SERVICING RESPONSIBILITIES

 

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

 

The Master Servicer,
by execution and delivery of this Agreement, does hereby contract with the Primary Servicer, subject to the terms of this Agreement,
for the servicing of the Mortgage Loans. On and after the Closing Date, the Primary Servicer shall hold any portion of the Servicing
File or the Mortgage File (including without limitation, any original letter of credit) in the possession of the Primary Servicer
in trust by the Primary Servicer, on behalf of the

 

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Master Servicer for the benefit of the Certificateholders. The Primary Servicer’s
possession of any portion of the Servicing File or the Mortgage File shall be at the will of the Master Servicer and the Trustee
for the sole purpose of facilitating the servicing or the supervision of servicing of the related Mortgage Loan pursuant to this
Agreement, and such retention and possession by the Primary Servicer shall be in a custodial capacity only. Any portion of the
Servicing File or the Mortgage File retained by the Primary Servicer shall be identified to reflect clearly the ownership of the
related Mortgage Loan by the Trustee. The Primary Servicer shall release from its custody any Servicing File or any Mortgage File
retained by it only in accordance with this Agreement and the Pooling and Servicing Agreement. The Primary Servicer shall hold
the original of each letter of credit relating to a Mortgage Loan in trust on behalf of the Trust in order to draw on such letter
of credit on behalf of the Trust. The Primary Servicer shall forward a copy of each letter of credit to the Master Servicer. During
the term of this Agreement, the Primary Servicer will also provide to the Master Servicer a copy of any lease, amendments to Mortgage
Loan documents and other documents related to the Mortgaged Property securing the related Mortgage Loan or related to the Mortgage
Loan as soon as possible after receipt or execution thereof, as applicable.

 

Section
2.02          
Notice of Breach of Representations and Warranties.

 

Following its receipt
from the Depositor, the Master Servicer shall provide a copy of the applicable Mortgage Loan Purchase Agreement to the Primary
Servicer. The Primary Servicer shall promptly notify in writing the Master Servicer upon becoming aware of any breach of any representations
and warranties contained in such Mortgage Loan Purchase Agreement or a document defect that could give rise to a cure or repurchase
obligation. The Primary Servicer shall reasonably cooperate with the Master Servicer in pursuing its obligations to make a repurchase
claim against the related Mortgage Loan Seller. The Primary Servicer shall notify the Master Servicer in writing within five (5)
Business Days after the Primary Servicer discovers or receives notice alleging a Defect or a Breach or receives notice of a 15Ga-1
Repurchase Request. The Primary Servicer shall promptly, but in no event later than five (5) Business Days after receipt, provide
to the Master Servicer a copy of any written 15Ga-1 Repurchase Request, withdrawal of a 15Ga-1 Repurchase Request, or rejection
of a 15Ga-1 Repurchase Request received by the Primary Servicer and such other information in the possession of the Primary Servicer
reasonably requested by the Master Servicer to fulfill its obligations under Section 2.02(g) and Section 2.03 of the Pooling
and Servicing Agreement.

 

ARTICLE III

 

SERVICING
OF THE MORTGAGE LOANS

 

Section
3.01          
Primary Servicer to Service.

 

(a)          The Primary Servicer, as an independent contractor, shall service and administer the Mortgage Loans in a manner consistent
with the Servicing Standard under the Pooling and Servicing Agreement.

 

(b)          The Primary Servicer shall perform, on behalf of the Master Servicer, all of the

 

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

 

(c)          The
following Sections of the Pooling and Servicing Agreement, unless otherwise provided in this Section 3.01(c) of this Agreement,
are hereby incorporated herein by reference

 

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as if fully set forth herein, and, for purposes of this Agreement,
in addition to the References Modification, are hereby further modified as set forth below:

 

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

 

(2)        Sections 3.01(a) - (f). Without limiting the generality of the obligations of the Primary Servicer hereunder, the
Primary Servicer shall monitor and certify on a quarterly basis, starting with the quarter ending December of 2016, within thirty
(30) days of the end of such quarter the information on each Mortgage Loan as required by, and in the form of, Exhibit E
attached hereto, pursuant to Section 3.01(c)(21) of this Agreement. In addition, without limiting the generality of the
foregoing, the Primary Servicer shall take all necessary action to continue all UCC Financing Statements in favor of the originator
of each Mortgage Loan or in favor of any assignee prior to the expiration of such UCC Financing Statements. Notwithstanding the
foregoing, the Primary Servicer’s authority is restricted as provided in Section 3.01(c)(14) and (24) of this
Agreement.

 

(3)        Section 3.02. The Primary Servicer may not waive any Penalty Charges that the Master Servicer is permitted to waive
under Section 3.02 of the Pooling and Servicing Agreement without the consent of the Master Servicer. The Primary Servicer
shall promptly notify the Master Servicer of any defaults under the Mortgage Loans, collection issues or customer issues and shall
take no actions with respect to enforcing such Mortgage Loans without the prior written consent of the Master Servicer.

 

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

 

(5)        Sections 3.03(b) and (e). Without limiting the generality of the obligations of the Primary Servicer hereunder, the
Primary Servicer shall monitor and certify to the information on each Mortgage Loan with respect to taxes, insurance premiums,
assessments, ground rents and other similar items on a quarterly basis starting for the quarter ending in December of 2016, within
thirty (30) days of the end of such quarter as required by, and in the form of, Exhibit E attached hereto, pursuant
to Section 3.01(c)(21) of this Agreement.

 

(6)        Section 3.03(c) is not incorporated herein. The Primary Servicer shall not be obligated to make any Servicing Advances.
The Primary Servicer shall give the Master Servicer not less than five (5) Business Days’ notice before the date on which
the Master Servicer is required to make any Servicing Advance with respect to any Mortgage Loan. In addition, the Primary Servicer
shall provide the Master Servicer with such information in its possession as the Master Servicer may reasonably request to enable
the Master Servicer to determine whether a requested Servicing Advance would constitute a Nonrecoverable Servicing Advance.

 

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(7)         Section 3.04(a). The Primary Servicer shall establish a custodial account (hereinafter the “Primary Servicer
Collection Account”), meeting all of the requirements of the Collection Account, and references to the Collection Account
shall be references to such Primary Servicer Collection Account. The creation of any Primary Servicer Collection Account shall
be evidenced by a certification in the form of Exhibit F attached hereto and a copy of such certification shall be
furnished to the Master Servicer on or prior to the Closing Date and thereafter to the Master Servicer upon any transfer of the
Primary Servicer Collection Account. Notwithstanding the third paragraph of Section 3.04(a) of the Pooling and Servicing
Agreement, the Primary Servicer shall deposit into the Primary Servicer Collection Account and include in its Primary Servicer
Remittance Amount all Escrow Payments, Penalty Charges, Modification Fees, defeasance fees, assumption fees, loan service transaction
fees, extension fees, assumption application fees, consent fees, Prepayment Interest Excess, charges for beneficiary statements
or demands, amounts collected for checks returned for insufficient funds and other fees and amounts collected from Mortgagors that
constitute additional servicing compensation and/or additional special servicing compensation (in each case, other than those to
which the Primary Servicer is entitled pursuant to Section 3.01(c)(18) of this Agreement). Any amounts of additional special
servicing compensation payable to the Special Servicer shall be remitted to the Special Servicer by the Master Servicer. For purposes
of the last paragraph of Section 3.04(a) of the Pooling and Servicing Agreement, the Master Servicer shall direct the Special
Servicer to make payment of amounts referenced therein directly to the Primary Servicer for deposit in the Primary Servicer Collection
Account.

 

(8)         Section 3.04(b) is not incorporated herein. With respect to each Distribution Date, the Primary Servicer shall deliver
to the Master Servicer on or before the Primary Servicer Remittance Date the Primary Servicer Remittance Amount for such date.
Each remittance required to be made to the Master Servicer on the Primary Servicer Remittance Date shall be made by wire transfer
and shall be made by 2:00 p.m. Charlotte, North Carolina time on such date. Each month, on each Business Day between the Primary
Servicer Remittance Date and the Distribution Date, the Primary Servicer shall forward to the Master Servicer by wire transfer
the Primary Servicer Remittance Amount for such date. Each month, on each Business Day that the Primary Servicer is not required
to remit to the Master Servicer pursuant to the previous sentence, the Primary Servicer shall forward to the Master Servicer by
wire transfer all amounts collected by the Primary Servicer and not previously remitted to the Master Servicer which constitute
delinquent payments on the Mortgage Loans and any related Penalty Charges. Section 3.01(c)(21) of this Agreement sets forth
certain reporting requirements with respect to such remittances.

 

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

 

(i)            to remit to the Master Servicer for deposit in the Collection Account the amounts required to be so deposited pursuant to
the second sentence of Section 3.04(b) of the Pooling and Servicing Agreement and Section 3.01(c)(8) of this Agreement;

 

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(ii)           to the extent not otherwise required to be applied against Prepayment Interest Shortfalls on the related Mortgage Loans,
to pay itself earned and unpaid Primary Servicing Fees, with respect to the Mortgage Loans and/or any successor REO Loans in respect
thereof, the Primary Servicer’s right to payment pursuant to this clause (ii) with respect to any such Mortgage Loan
or REO Loans being limited to amounts on deposit in the Primary Servicer Collection Account that are received on or in respect
of on such Mortgage Loan or REO Loan, as applicable (whether in the form of payments, Liquidation Proceeds or Insurance and Condemnation
Proceeds), that are allocable as recovery of interest thereon;

 

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

 

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

 

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

 

(vi)          to remove any amounts deposited in the Primary Servicer Collection Account in error.

 

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

 

(10)       Section 3.06 is not incorporated herein. The Primary Servicer may invest funds in the Primary Servicer Collection
Account and/or any Servicing Account maintained by it on the same terms as the Master Servicer may invest funds in the Collection
Account and/or a Servicing Account, and subject to the same rights, restrictions and obligations regarding maturity dates, gains,
losses, withdrawals, possession and control of Permitted Investments and Permitted

 

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Investments
payable on demand. Without limiting the generality of the foregoing, any investment of funds in the Primary Servicer Collection
Account and/or Servicing Account shall be made in the name of the Primary Servicer on behalf of the Trustee (in its capacity as
such) for the benefit of the Certificateholders.

 

(11)         Sections 3.07(a) and (d). References to the Collection Account shall be references to the Primary Servicer Collection
Account. All insurance policies caused to be maintained by the Primary Servicer hereunder shall also name the Master Servicer as
loss payee. Within fifteen (15) days after the execution date of this agreement, the Primary Servicer shall forward to the Master
Servicer a fully completed certificate of insurance in the form of Exhibit H attached hereto. Without limiting the
generality of the obligations of the Primary Servicer hereunder, the Primary Servicer shall monitor and certify as to the status
of insurance policies relating to the Mortgage Loans on a quarterly basis starting for the quarter ending in December of 2016,
within 30 days of the end of such quarter as required by, and in the form of, Exhibit E attached hereto, pursuant
to Section 3.01(c)(21) of this Agreement. The Primary Servicer shall promptly notify the Master Servicer of any Mortgaged
Property that is not insured against terrorist or other similar acts. The Master Servicer or the Special Servicer shall make all
determinations with respect to terrorism insurance matters required to be made under Section 3.07 of the Pooling and Servicing
Agreement, and the Primary Servicer shall reasonably cooperate with the Master Servicer in connection therewith.

 

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

 

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

 

(14)         Section 3.08. Notwithstanding anything herein to the contrary, the Primary Servicer will not permit or consent to
any assumption, transfer or other action contemplated by Section 3.08 of the Pooling and Servicing Agreement unless the
Primary Servicer has confirmed with the Master Servicer that the Master Servicer is either obligated to process or that the Master
Servicer and the Special Servicer have mutually agreed that the Master Servicer shall process such request pursuant to Section
3.08 of the Pooling and Servicing Agreement. Following such confirmation, the Primary Servicer will not permit or consent to
any assumption, transfer or other action contemplated by Section 3.08 of the Pooling and Servicing Agreement without the
prior written consent of the Master Servicer. With respect to any such proposed action, the Primary Servicer shall perform and
forward to the Master Servicer any analysis, recommendation or other information required to be prepared and/or delivered by the
Master Servicer under Section 3.08 of the Pooling and Servicing Agreement. The Master Servicer, not the Primary Servicer,
will deal directly with the Special Servicer in connection with obtaining any necessary approval or consent from the Special Servicer.
If the Primary Servicer shall process any such assumption, transfer or other action, and the Master Servicer consents to such transaction,
the Primary Servicer shall process, document and close such transaction. The Primary Servicer shall

 

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promptly
provide copies of any waivers it effects pursuant to this Section to the Master Servicer and the Master Servicer will provide
notice or copies to the 17g-5 Information Provider and Rating Agencies to the extent required by the Pooling and Servicing Agreement.

 

(15)        [Reserved].

 

(16)        Section
3.09. References to the Master Servicer shall not be deemed to be references to the Primary Servicer for purposes of Section
3.09 (other than Section 3.09(f)) of the Pooling and Servicing Agreement.

 

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

 

(18)        Section 3.11(a). References to the Servicing Fee shall be references to the Primary Servicing Fee and references
to the Servicing Fee Rate shall be references to the Primary Servicing Fee Rate. The second and third paragraphs of Section
3.11(a) of the Pooling and Servicing Agreement are not incorporated herein. In addition, the Primary Servicer shall be entitled
to receive, as additional servicing compensation, to the extent the Master Servicer is entitled to such amounts under the Pooling
and Servicing Agreement, (i) all investment income earned on amounts on deposit in the Primary Servicer Collection Account and
certain Servicing Accounts (to the extent consistent with the related Mortgage Loan documents), (ii) 100% of any amounts collected
by the Primary Servicer for checks returned for insufficient funds, demand fees or similar items with respect to the Mortgage Loans
to the extent the Master Servicer is entitled to such items under Section 3.11(a) of the Pooling and Servicing Agreement,
(iii) 50% of that portion of any Modification Fees, consent fees and similar fees to which the Master Servicer is entitled under
Section 3.11(a) of the Pooling and Servicing Agreement with respect to the Mortgage Loans in connection with matters performed
by the Primary Servicer pursuant to Section 3.01(c)(24) of this Agreement, (iv) 50% of that portion of any assumption fees
and assumption application fees (or similar fees) to which the Master Servicer is entitled under Section 3.11(a) of the
Pooling and Servicing Agreement with respect to the Mortgage Loans, (v) 50% of that portion of any defeasance fees to which the
Master Servicer is entitled under Section 3.11(a) of the Pooling and Servicing Agreement in connection with matters performed
by the Primary Servicer pursuant to Section 3.01(c)(24) of this Agreement with respect to the Mortgage Loans, and (vi) 100%
of that portion of any beneficiary statement charges to which the Master Servicer is entitled under Section 3.11(a) of the
Pooling and Servicing Agreement with respect to the Mortgage Loans. The Primary Servicer shall not be entitled to any Prepayment
Interest Excesses, Compensating Interest Payments, Default Interest, Penalty Charges, or other amounts not specifically addressed
above in this Section 3.01(c)(18).

 

(19)        Section 3.12(a). The Primary Servicer shall promptly (but in no event later than three (3) Business Days after the
completion of related inspection report) forward to the Master Servicer a copy of all inspection reports prepared by or on behalf
of the Primary Servicer. The Primary Servicer may engage a third party at its cost to perform property inspections and prepare
property inspection reports without first obtaining the consent of the Master Servicer;

 

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provided,
however, that the Primary Servicer shall remain obligated and primarily liable to the Master Servicer for satisfactory
completion of the inspections and reports as required by this Agreement. If any inspection report identifies a “life safety”
or other material deferred maintenance item existing with respect to the related Mortgaged Property, the Primary Servicer (x)
shall promptly send to the related Mortgagor a letter identifying such deferred maintenance item and instructing such Mortgagor
to correct such deferred maintenance item and (y) shall follow up with such Mortgagor in writing and at such frequency as is in
accordance with the Servicing Standard to confirm that such deferred maintenance item is being corrected. The Primary Servicer
shall promptly notify the Master Servicer of any event or circumstance that gives rise to enforcement rights with respect to the
manager under the related Mortgage Loan documents and management agreement.

 

(20)        [Reserved].

 

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

 

The penultimate sentence
in Section 3.12(d) of the Pooling and Servicing Agreement is not incorporated herein. The Primary Servicer shall deliver
to the Master Servicer, no later than 5:00 p.m. New York City time on the Primary Servicer Reporting Date, by electronic transmission
in the format reasonably acceptable to the Master Servicer and the Primary Servicer, the CREFC® Loan Periodic Update
File, providing the required information as of such Determination Date. The Primary Servicer shall deliver to the Master Servicer
by electronic transmission (in a format reasonably acceptable to the Master Servicer and the Primary Servicer) (a) not later than
5:00 p.m. New York City time on the first Business Day following each Determination Date, the Collection Report (the information
therein to be stated as of the Determination Date) in the form of Exhibit G and (b) within thirty (30) days after
the end of each calendar quarter, beginning with the quarter ending on December 31, 2016, the certification on the Mortgage Loans,
including without limitation information regarding UCC Financing Statements, taxes, insurance premiums and ground rents, required
by and in the form of Exhibit E attached hereto. The Primary Servicer shall deliver to the Master Servicer no later
than 5:00 p.m. New York City time on the second Business Day of each month by electronic transmission

 

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in
a format reasonably acceptable to the Master Servicer and the Primary Servicer, a remittance report containing scheduled balance
information for each Mortgage Loan reflecting the scheduled Periodic Payment for such month in the form of Exhibit G
attached hereto. In addition, on each day that the Primary Servicer forwards to the Master Servicer any funds pursuant to Section
3.01(c)(8) of this Agreement, the Primary Servicer shall deliver to the Master Servicer by electronic transmission in a format
reasonably acceptable to the Master Servicer and the Primary Servicer, a report of the nature of such remittance in the form of
Exhibit G attached hereto. The Primary Servicer shall also prepare and deliver to the Master Servicer not later
than 5:00 p.m. New York City time on the first Business Day following each Determination Date, a certification in the form of
Exhibit J attached hereto.

 

(22)       Section 3.13. The Primary Servicer shall also be subject to Section 3.01(c)(29) of this Agreement. None of
the restrictions in Section 3.13 of the Pooling and Servicing Agreement or Section 3.01(c)(29) of this Agreement
shall prohibit or restrict oral or written communications, or providing information, between the Primary Servicer, on the one hand,
and a Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s review of the ratings
it assigns to the Primary Servicer, (ii) such Rating Agency’s or NRSRO’s approval of the Primary Servicer as a commercial
mortgage master, special or primary servicer or (iii) such Rating Agency’s or NRSRO’s evaluation of the Primary Servicer’s
servicing operations in general; provided, however, that the Primary Servicer shall not provide any information relating
to the Certificates or the Mortgage Loans to a Rating Agency or NRSRO in connection with such review and evaluation by such Rating
Agency or NRSRO unless (x) Mortgagor, property or deal specific identifiers are redacted; (y) such information has already been
provided to the 17g-5 Information Provider and has been uploaded on to the 17g-5 Information Provider’s Website; or (z) the
Rating Agency confirms that it does not intend to use such information in undertaking credit rating surveillance with respect to
the Certificates.

 

(23)       Sections 3.17(a) and (b). On each Primary Servicer Remittance Date, the Primary Servicer shall deposit into the Primary
Servicer Collection Account as part of the Primary Servicer Remittance Amount, the amount set forth in Section 3.17(a) of
the Pooling and Servicing Agreement to the extent resulting from Principal Prepayments on the Mortgage Loans and to the extent
that the Master Servicer is required to remit such amounts under Section 3.17(a) of the Pooling and Servicing Agreement,
and except that references to Servicing Fees in the definition of “Compensating Interest Payments” in the Pooling and
Servicing Agreement shall be references to Primary Servicing Fees.

 

(24)       Section 3.18. Notwithstanding anything herein to the contrary, the Primary Servicer will not take any action with
respect to any modification, extension, waiver, consent, defeasance, Major Decision, Special Servicer Decision or other action
contemplated by Section 3.18 of the Pooling and Servicing Agreement unless the Primary Servicer has confirmed with the Master
Servicer that the Master Servicer is either obligated to process or has mutually agreed with the Special Servicer to process such
transaction pursuant to Section 3.18 of the Pooling and Servicing Agreement. Following such confirmation, the Primary Servicer
will not permit or consent to any modification, extension, waiver, consent, defeasance, Major Decision, Special Servicer Decision
or other action contemplated by Section 3.18 of the Pooling and Servicing Agreement without the prior written consent of
the Master Servicer. With respect to any such

 

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proposed
action, the Primary Servicer shall perform and forward to the Master Servicer any analysis, recommendation or other information
required to be prepared and/or delivered by the Master Servicer under Section 3.18 of the Pooling and Servicing Agreement.
The Master Servicer, not the Primary Servicer, will deal directly with the Special Servicer in connection with obtaining any necessary
approval or consent from the Special Servicer; however, when processing loan-related events delegated to it through this Agreement,
the Primary Servicer may consult with the Special Servicer as needed, provided that it copies the Master Servicer on all related
correspondence to the Special Servicer and includes a representative of the Master Servicer on all related calls with the Special
Servicer and otherwise keeps the Master Servicer fully informed as to the results of such consultations. When forwarding a request
for the approval of any retail lease or renewal or extension thereof, the Primary Servicer shall forward to the Master Servicer
the information concerning such lease required by, and in the form of, Exhibit I attached hereto. The Primary Servicer
will not permit any Principal Prepayment or defeasance with respect to any Mortgage Loan without the written consent of the Master
Servicer. The Primary Servicer shall promptly forward all requests for Principal Prepayments or defeasance to the Master Servicer,
along with a payoff statement (with respect to each Principal Prepayment request) setting forth the amount of the necessary Principal
Prepayment calculated by the Primary Servicer.

 

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

 

(26)          
Section 3.19(c) is not incorporated herein. The Primary Servicer shall continue to process payments and maintain
ongoing payment records with respect to each Mortgage Loan that becomes a Specially Serviced Loan or an REO Property and shall
timely provide the Master Servicer and the Special Servicer with any information required by either to perform their respective
duties under the Pooling and Servicing Agreement. Pursuant to Section 3.01(c)(18) of this Agreement, the Primary Servicer
shall be entitled to receive the Primary Servicing Fee for so long as the Master Servicer receives its fee, with respect to each
Specially Serviced Loan.

 

(27)          
Section 3.20. References to the Master Servicer shall not be deemed to be references to the Primary Servicer for
purposes of Section 3.20 of the Pooling and Servicing Agreement. Each provision of Section 3.20 of the Pooling and
Servicing Agreement shall be enforceable against the Primary Servicer in accordance with the terms thereof. The Primary Servicer
may not enter into Sub-Servicing Agreements in connection with the Mortgage Loans, but the Primary Servicer may delegate its duties
to agents or Subcontractors so long as the related agreements or arrangements with such agents or Subcontractors are consistent
with the provisions of Section 3.20 of the Pooling and Servicing Agreement. The Primary Servicer shall

 

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not
take any action that the Master Servicer would be prohibited from taking under the Pooling and Servicing Agreement. The Primary
Servicer may not foreclose any Mortgage or, except as permitted by Section 3.01(c)(14) or (24) of this Agreement,
grant any modification, extension, waiver or amendment to any Mortgage Loan.

 

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

 

(28)          
Section 3.24(a). The Primary Servicer shall take no action with respect to any mezzanine loan and shall forward any
notice or request received promptly to the Master Servicer.

 

(29)          
Section 3.25 is not incorporated herein. Notwithstanding any provision herein to the contrary, the Primary Servicer
shall not make any request to a Rating Agency for a Rating Agency Confirmation; all such requests shall be made by, and as determined
necessary by, the Master Servicer. The Primary Servicer shall not communicate (orally or in writing) with any Rating Agency regarding
any of the Mortgage Loan documents or any matter related to the Mortgage Loans, the related Mortgaged Properties, the related Mortgagors
or any other matters in connection with the Certificates or pursuant to this Agreement or the Pooling and Servicing Agreement.
The Primary Servicer agrees to comply (and to cause each and every subcontractor, vendor or agent for the Primary Servicer and
each of its officers, directors and employees to comply) with the provisions relating to communications with the Rating Agencies
set forth in this Section 3.01(c)(29) and the Pooling and Servicing Agreement and shall not deliver to any Rating Agency
any report, notice, statement, request for Rating Agency Confirmation or other information the communication of which to the Rating
Agencies is restricted by the Pooling and Servicing Agreement.

 

All information described in
the immediately preceding paragraph will be provided by, and all such communications, responses and requests described in the immediately
preceding paragraph will be made by, the Master Servicer in accordance with the procedures required by

 

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the
Pooling and Servicing Agreement. To the extent that the Master Servicer is required to provide any information to, or communicate
with, any Rating Agency in accordance with its obligations under the Pooling and Servicing Agreement and such information or communication
is regarding the Mortgage Loans or the primary servicing by the Primary Servicer under this Agreement, the Primary Servicer shall
provide the information to the Master Servicer necessary for the Master Servicer to fulfill such obligations.

 

(31)          
Section 3.32 is not incorporated herein. The Primary Servicer shall not initiate or become involved in any claim
or litigation that falls within the scope of Trust-Related Litigation. The Primary Servicer shall promptly, but in any event no
later than five (5) Business Days of the Primary Servicer receiving service of such Trust-Related Litigation, provide written notice
thereof to the Master Servicer. Notwithstanding the foregoing, the Primary Servicer shall retain the right to make determinations
relating to claims or counter-claims against or on behalf of the Primary Servicer subject to Section 3.32(g) of the Pooling
and Servicing Agreement and the rights of the Special Servicer set forth therein, which shall apply to the Primary Servicer to
the extent such provisions apply to the Master Servicer.

 

(32)          
Section 3.33.

 

(33)           Section 4.03 is not incorporated herein. The Primary Servicer shall have no obligation to make P&I Advances.

 

(34)          
Section 6.01(a). Section 6.01(a)(i) of the Pooling and Servicing Agreement shall be deemed modified to read
“The Primary Servicer is a national banking association, duly organized, validly existing and in good standing under the
laws of the United States of America, and the Primary Servicer is in compliance with the laws of each State in which any Mortgaged
Property is located to the extent necessary to perform its obligations under this Agreement.” The Primary Servicer hereby
represents and warrants, as of the date hereof, that (i) each insurance policy and fidelity bond referenced in Section 3.07(c)
of the Pooling and Servicing Agreement names the Master Servicer as a loss payee; and (ii) the Primary Servicer is authorized to
transact business in the state or states in which the Mortgaged Properties for the Mortgage Loans are situated, if and to the extent
required by applicable law to the extent necessary to ensure the enforceability of the Mortgage Loans or compliance with its obligations
under this Agreement and the Master Servicer’s obligations under the Pooling and Servicing Agreement.

 

(35)          
Sections 11.01, 11.02, 11.03, 11.04, 11.05, 11.06, 11.07, 11.09, 11.10, 11.11 and 11.12. The Primary Servicer shall
cooperate fully with the Master Servicer and deliver to the Master Servicer any and all statements, reports, certifications, records
and any other information in its possession and necessary in the good faith determination of the Master Servicer, the Certificate
Administrator, the Trustee or the Depositor to permit the Depositor or Other Depositor, as applicable, to comply with the provisions
of Regulation AB and the Master Servicer to comply with its obligations under Article XI of the Pooling and Servicing Agreement,
together with such disclosures relating to the Primary Servicer, or the servicing of the Mortgage Loans, reasonably believed by
the Depositor, the related Other Depositor, the Certificate Administrator or the Master Servicer to be necessary in order to effect
such compliance. For purposes of this Section 3.01(c)(35) of this Agreement, references to the

 

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Trustee,
the Certificate Administrator, the Depositor, the Other Depositor, the Other Trustee or the Other Certificate Administrator in
Article XI of the Pooling and Servicing Agreement shall not be deemed to be references to the Master Servicer but shall
remain references to the Trustee, the Certificate Administrator, the Depositor, the Other Depositor, the Other Trustee or the
Other Certificate Administrator, as applicable; provided that the Primary Servicer shall copy the Master Servicer on any notice,
certificate or information provided to the Trustee, the Certificate Administrator, the Depositor, the Other Depositor, the Other
Trustee or the Other Certificate Administrator pursuant to this Section 3.01(c)(35) of this Agreement.

 

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

 

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

 

Any Additional Form 10-K Disclosure
and related Additional Disclosure Notification required to be delivered by the Primary Servicer shall be delivered to the Master
Servicer (and, if the Primary Servicer is an Additional Servicer or a Servicing Function Participant, also to the Depositor, the
Certificate Administrator, each Other Depositor and each Other Certificate Administrator (to the extent the notice and/or information
relates to a Serviced Companion Loan or a party that services, specially services or is trustee or custodian for a Serviced Companion
Loan)) on or before the fifth (5th) Business Day preceding March 1st of each year, commencing February 22,
2017.

 

The Primary Servicer (without
regard to whether the Primary Servicer is a Servicing Function Participant, a Reporting Servicer or Additional Servicer) shall
provide a Performance Certification described in Section 11.06 of the Pooling and Servicing Agreement (on which the Master
Servicer and its officers, directors and Affiliates, in addition to the Certification Parties, can reasonably rely) to the Master
Servicer on or before the fifth (5th) Business Day preceding March 1st of each year, commencing February
22, 2017. If the Primary Servicer is a Servicing Function Participant, such Performance Certification shall also be provided to
each affected Certifying Person by the time required by the Pooling and Servicing Agreement, and if the Primary Servicer is not
a Servicing Function Participant, such Performance Certification shall be delivered only to the Master Servicer. In addition, the
Primary Servicer (a) shall provide such information and assistance as may be reasonably required to cooperate with the Master Servicer
in complying with Section 11.06 of the Pooling and Servicing Agreement and (b) shall cooperate

 

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with
the Master Servicer’s reasonable requests in performing its due diligence for its certification under Section 11.06
of the Pooling and Servicing Agreement.

 

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

 

The Primary Servicer (without
regard to whether the Primary Servicer is an Additional Servicer or Servicing Function Participant) shall deliver its Officer’s
Certificate required by Section 11.09 of the Pooling and Servicing Agreement to the Master Servicer on or before the fifth
(5th) Business Day preceding March 1st of each year, commencing February 22, 2017. If the Primary Servicer
is an Additional Servicer or Servicing Function Participant, the Primary Servicer shall also deliver such Officer’s Certificate
to the Certificate Administrator, the Trustee, Depositor, the 17g-5 Information Provider, each Other Depositor and each Other Certificate
Administrator (to the extent such item and/or information relates to a party that services, specially services or is trustee or
custodian for a Serviced Companion Loan) within the time provided in Section 11.09, and if the Primary Servicer is not an
Additional Servicer or Servicing Function Participant, such Officer’s Certificate shall be delivered only to the Master Servicer.

 

The Primary Servicer (without
regard to whether the Primary Servicer is a Servicing Function Participant, a Reporting Servicer or Additional Servicer) shall
deliver the items required under Sections 11.10 and 11.11 of the Pooling and Servicing Agreement regarding itself
(the “report on an assessment of compliance with Relevant Servicing Criteria” and “accountants’ report”)
to the Master Servicer on or before the fifth (5th) Business Day preceding March 1st of each year, commencing
February 22, 2017. If the Primary Servicer is a Servicing Function Participant, a Reporting Servicer or Additional Servicer, the
report on an assessment of compliance with Relevant Servicing Criteria and accountants’ report shall also be delivered to
the Certificate Administrator, the Trustee, Depositor, the 17g-5 Information Provider, each Other Depositor and each Other Certificate
Administrator (to the extent such item and/or information relates to a party that services, specially services or is trustee or
custodian for a Serviced Companion Loan) within the time provided in Sections 11.10 and 11.11 of the Pooling and
Servicing Agreement, and if the Primary Servicer is not an Servicing Function Participant, a Reporting Servicer or Additional Servicer,
the report on an assessment of compliance with Relevant Servicing Criteria and accountants’ report shall be delivered only
to the Master Servicer. For the avoidance of doubt, if the Primary Servicer’s report on assessment of compliance with Relevant
Servicing Criteria or the related accountants’ report identifies any material instance of noncompliance with the Relevant
Servicing Criteria, such reports shall include a discussion of whether the identified instance was determined to have involved
the servicing of the Mortgage Loans and any steps taken to remedy such identified instance of noncompliance to the extent related
to its activities with respect to asset-backed securities transactions taken as a whole involving the Primary Servicer and that
are backed by the same asset-type backing the Certificates.

 

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

 

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

 

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

 

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If the indemnification provided
for in this Section 3.01(c)(35) is unavailable or insufficient to hold harmless any Certification Party, the Master Servicer,
the Depositor or any employee, director or officer of the Depositor, then the Primary Servicer shall contribute to the amount paid
or payable to the indemnified party as a result of the losses, claims, damages or liabilities of the indemnified party in such
proportion as is appropriate to reflect the relative fault of the indemnified party on the one hand and the Primary Servicer on
the other in connection with a breach of the Primary Servicer’s obligations pursuant to this Section 3.01(c)(35).

 

(36)           
Sections 12.01(b)(i)-(ii). The Primary Servicer shall provide all reasonable cooperation (with respect to information
regarding the Mortgage Loans in the Primary Servicer’s possession) to enable the Master Servicer to provide the information
required pursuant to Sections 12.01(b)(i)-(ii) of the Pooling and Servicing Agreement.

 

Section
3.02          Merger or Consolidation of the Primary Servicer.

 

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

 

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

 

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

 

Neither the Primary Servicer
nor any of the officers, employees or affiliates, agents of the

 

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Primary
Servicer shall be under any liability to the Master Servicer any action taken, or for refraining from the taking of any action,
in good faith pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect
the Primary Servicer or any such person against any breach of representations or warranties made herein, or against any liability
which would otherwise be imposed by reason of willful misconduct, bad faith, fraud or negligence (or by reason of any specific
liability imposed hereunder for a breach of the Servicing Standard) in the performance of its obligations or duties hereunder,
or by reason of negligent disregard of such obligations and duties. The Primary Servicer and any officer, employee or agent of
the Primary Servicer may rely in good faith on any document of any kind which, prima facie, is properly executed and submitted
by any Person respecting any matters arising hereunder. The Primary Servicer shall not be under any obligation to appear in, prosecute
or defend any legal action unless such action relates to its respective duties under this Agreement and which in its opinion does
not expose it to any expense or liability not recoverable from the Trust Fund; provided, however, the Primary Servicer
may, with the consent of the Master Servicer, undertake any such action, proceeding, hearing or examination that it may deem necessary
or desirable in respect to this Agreement and the rights and duties of the parties hereto. In such event, to the extent that the
legal expenses and costs of such action, proceeding, hearing or examination and any liability resulting therefrom are reimbursable,
and are reimbursed to the Master Servicer, by the Trust Fund pursuant to the Pooling and Servicing Agreement, the Primary Servicer
shall be entitled to be reimbursed therefor from the Master Servicer upon written demand. To the extent provided in Section
6.04 of the Pooling and Servicing Agreement, the Primary Servicer shall be indemnified and held harmless by the Trust Fund
against any loss, liability or expense, incurred in connection with any claim, loss, penalty, fine, foreclosure, judgment, liability
or legal action relating to this Agreement or the Certificates, other than any loss, liability or expense (including legal fees
and expenses) incurred by the Primary Servicer by reason of willful misconduct, bad faith, fraud or negligence in the performance
of duties hereunder or by reason of negligent disregard of obligations and duties hereunder. The Primary Servicer shall not have
any rights of indemnification out of the Trust Fund except through the Master Servicer as described above and, in each case, to
the full extent that the Master Servicer is permitted to indemnification from the Trust Fund under the Pooling and Servicing Agreement.

 

Section
3.04          Primary Servicer Not to Resign.

 

The Primary Servicer shall
not resign from the obligations and duties hereby imposed on it except by sixty (60) days prior written notice to the Master Servicer,
or upon the determination that its duties hereunder are no longer permissible under applicable law and such incapacity cannot be
cured by the Primary Servicer. Any such determination permitting the resignation of the Primary Servicer shall be evidenced by
an Opinion of Counsel to such effect delivered to the Master Servicer, which Opinion of Counsel shall be in form and substance
acceptable to the Master Servicer.

 

Section
3.05          No Transfer or Assignment of Servicing.

 

With respect to the responsibility
of the Primary Servicer to service the Mortgage Loans hereunder, the Primary Servicer acknowledges that the Master Servicer has
acted in reliance upon the Primary Servicer’s independent status, the adequacy of its servicing facilities, plant,

 

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

 

Section
3.06          Indemnification.

 

The Master Servicer and the
Primary Servicer each agrees to and hereby does indemnify and hold harmless the Master Servicer, in the case of the Primary Servicer,
and the Primary Servicer, in the case of the Master Servicer (including any of their partners, directors, officers, employees or
agents) from and against any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related
costs, judgments, and any other costs, liabilities, fees and expenses that the Master Servicer, in the case of the Primary Servicer,
and the Primary Servicer, in the case of the Master Servicer, may sustain arising from or as a result of any willful misconduct,
bad faith, fraud or negligence of the Master Servicer or Primary Servicer, as applicable, in the performance of its obligations
and duties under this Agreement or by reason of negligent disregard by the Master Servicer or Primary Servicer, as applicable,
of its duties and obligations hereunder or by reason of breach of any representations or warranties made herein; provided, that
such indemnity shall not cover indirect or consequential damages. Each indemnified party hereunder shall give prompt written notice
to the indemnitor of matters which may give rise to liability of such indemnitor hereunder; provided, however, that
failure to give such notice shall not relieve the indemnitor of any liability except to the extent of actual prejudice. Section
3.06 of this Agreement shall survive the termination of this Agreement and the termination or resignation of the Master Servicer
or the Primary Servicer.

 

ARTICLE IV

DEFAULT

 

Section
4.01          Events of Default.

 

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

 

(a)          
any failure by the Primary Servicer to deposit into the Primary Servicer Collection Account or any Servicing Account, or
to deposit into, or to remit to the Master Servicer for deposit into, the Collection Account on the dates and at the times required
by this

 

     20

     

    

 

Agreement,
any amount required to be so deposited or remitted under this Agreement; provided, however, that the Primary Servicer will have
one (1) Business Day to remedy a failure to make such a deposit or remittance on the date and at the time required by this Agreement;
or

 

(b)           any failure on the part of the Primary Servicer to (i) timely provide to the Servicer the certification called for on Exhibit
E attached hereto as required by this Agreement, or (ii) timely provide to the Master Servicer the Collection Report which
failure continues unremedied for one (1) Business Day; or

 

(c)           the Primary Servicer shall fail three (3) times within any one (1) year period to timely provide to the Master Servicer
any Collection Report, CREFC® Loan Periodic Update File, CREFC® Property File, CREFC®
Financial File, CREFC® Comparative Financial Status Report, CREFC® Loan Level Reserve/LOC Report,
CREFC® Delinquent Loan Status Report, CREFC® Servicer Watch List, CREFC® NOI Adjustment
Worksheet, the CREFC® Total Loan Report or CREFC® Operating Statement Analysis Report within one
(1) Business Day following the date on which it is due; or

 

(d)           any failure by the Primary Servicer duly to observe or perform in any material respect any of its other covenants or obligations
under this Agreement (other than those addressed in another clause of this Section 4.01), which failure continues unremedied
for a period of twenty-five (25) days (or (i) with respect to any year that a report on Form 10-K is required to be filed, three
(3) Business Days in the case of the Primary Servicer’s obligations or (ii) 10 days in the case of failure to pay the premium
for any insurance policy required to be force placed by the Primary Servicer pursuant to this Agreement or in any event such reasonable
shorter period of time as is necessary to avoid the commencement of foreclosure proceedings for any lien relating to unpaid real
estate taxes or assessments or a lapse in any required insurance coverage) after written notice of such failure, requiring the
same to be remedied, has been given to the Primary Servicer by the Master Servicer; provided, however, if that failure (other than
a failure that results in the commencement of foreclosure proceedings for any lien relating to unpaid real estate taxes or assessments
or a lapse in any required insurance coverage) is capable of being cured and the Primary Servicer has provided the Master Servicer
with an Officer’s Certificate certifying that it has diligently pursued, and is continuing to diligently pursue, a full cure,
such twenty-five (25) day period shall be extended for an additional thirty (30) days; or

 

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

 

(f)            a decree or order of a court or agency or supervisory authority having

 

     21

     

    

 

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

 

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

 

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

 

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

 

(j)            either of Moody’s or KBRA has (i) qualified, downgraded or withdrawn its rating or ratings of one or more Classes
of Certificates, or (ii) placed one or more Classes of Certificates on “watch status” in contemplation of possible
rating downgrade or withdrawal (and such action shall not have been withdrawn within 60 days of such event) and, in the case of
either of clause (i) or (ii), publicly citing servicing concerns with the Primary Servicer as the sole or a material factor in
such rating action; or

 

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

 

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

 

If any Event of
Default shall occur and be continuing, then, and in each and every such case, so long as such Event of Default shall not have been
remedied, the Master Servicer may terminate, by notice in writing to the Primary Servicer, all of the rights and obligations of
the Primary Servicer as Primary Servicer under this Agreement and in and to the Mortgage Loans and the proceeds thereof. From and
after the receipt by the Primary Servicer of such written

 

     22

     

    

 

notice,
all authority and power of the Primary Servicer under this Agreement, whether with respect to the Mortgage Loans or otherwise,
shall pass to and be vested in the Master Servicer pursuant to and under Section 4.01 of this Agreement, and, without limitation,
the Master Servicer is hereby authorized and empowered to execute and deliver, on behalf of and at the expense of the Primary
Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments, and to do or accomplish all other acts
or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and
endorsement or assignment of the Mortgage Loans and related documents, or otherwise. The Primary Servicer agrees that if it is
terminated pursuant to Section 4.01 of this Agreement, it shall promptly (and in any event no later than five (5) Business
Days subsequent to its receipt of the notice of termination) provide the Master Servicer with all documents and records (including,
without limitation, those in electronic form) requested by it to enable it to assume the Primary Servicer’s functions hereunder,
and shall cooperate with the Master Servicer in effecting the termination of the Primary Servicer’s responsibilities and
rights hereunder and the assumption by a successor of the Primary Servicer’s obligations hereunder, including, without limitation,
the transfer within one (1) Business Day to the Master Servicer for administration by it of all cash amounts which shall at the
time be or should have been credited by the Primary Servicer to the Primary Servicer Collection Account, the Collection Account,
any Servicing Account, or any REO Account, or thereafter be received with respect to the Mortgage Loans or any REO Property (provided,
however, that the Primary Servicer shall continue to be entitled to receive all amounts accrued or owing to it under this Agreement
on or prior to the date of such termination, and it and its directors, officers, employees and agents shall continue to be entitled
to the benefits of Section 3.03 of this Agreement notwithstanding any such termination).

 

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

 

Section
4.02          Waiver of Defaults.

 

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

 

Section
4.03          Other Remedies of Master Servicer.

 

During the continuance
of any Event of Default, so long as such Event of Default shall not have been remedied, the Master Servicer, in addition to the
rights specified in Section 4.01 of this Agreement, shall have the right, in its own name, to take all actions now or hereafter
existing at law, in equity or by statute to enforce its rights and remedies (including the

 

     23

     

    

 

institution
and prosecution of all judicial, administrative and other proceedings and the filing of proofs of claim and debt in connection
therewith). Except as otherwise expressly provided in this Agreement, no remedy provided for by this Agreement shall be exclusive
of any other remedy, and each and every remedy shall be cumulative and in addition to any other remedy and no delay or omission
to exercise any right or remedy shall impair any such right or remedy or shall be deemed to be a waiver of any Event of Default.

 

ARTICLE V

TERMINATION

 

Section
5.01          Termination.

 

Except as otherwise
specifically set forth herein, the rights, obligations and responsibilities of the Primary Servicer shall terminate (without payment
of any penalty or termination fee): (i) upon the later of the final payment or other liquidation (or any advance with respect thereto)
of the last Mortgage Loan and the disposition of all REO Property and the remittance of all funds due hereunder; (ii) by mutual
consent of the Primary Servicer and the Master Servicer in writing; (iii) pursuant to Section 5.02 of this Agreement; (iv)
at the option of any purchaser of one or more Mortgage Loans pursuant to the Pooling and Servicing Agreement, upon such purchase
and only with respect to such purchased Mortgage Loan or Mortgage Loans, subject to the Primary Servicer’s rights to retain
any accrued and unpaid fees and expenses; or (v) upon termination of the Pooling and Servicing Agreement.

 

Section
5.02          Termination With Cause.

 

The Master Servicer
may, at its sole option, terminate any rights the Primary Servicer may have hereunder with respect to any or all of the Mortgage
Loans, as provided in Section 4.01 of this Agreement upon the occurrence of an Event of Default.

 

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

 

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

 

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

 

ARTICLE VI

 

     24

     

    

 

MISCELLANEOUS

 

Section
6.01          Successor to the Primary Servicer.

 

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

 

Section
6.02          Financial Statements.

 

The Primary Servicer shall,
upon the request of the Master Servicer, make available its publicly available financial statements and other records relevant
to the performance of the Primary Servicer’s obligations hereunder.

 

Section
6.03          Closing.

 

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

 

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

 

Section
6.04          Closing Documents.

 

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

 

(a)       to be provided
by the Primary Servicer:

 

(1)            this Agreement executed by the Primary Servicer;

 

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

 

(3)            Reserved; and

 

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

 

     25

     

    

 

(b)       to be provided
by the Master Servicer:

 

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

 

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

 

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

 

Section
6.05          Notices.

 

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

 

(i)           if to the Master
Servicer:

 

Wells Fargo Bank, National Association 

Commercial Mortgage Servicing

Three Wells Fargo

401 S. Tryon Street, 8th Floor

MAC D1050-084

Charlotte, North Carolina 28202

Reference: MSBAM 2016-C31 Asset Manager

 

with a copy to:

 

Wells Fargo Bank, National Association

Legal Department

301 South College St.

D1053-300

Charlotte, North Carolina 28202

Reference: Commercial Mortgage Servicing Legal Support

 

With a copy to:

 

K&L Gates LLP

Hearst Tower, 47th Floor

214 North Tryon Street

Charlotte, North Carolina 28202

Attention: Stacy G. Ackermann

 

(ii)           if to the Primary
Servicer:

 

     26

     

    

 

KeyBank National Association

11501 Outlook Street, Suite 300

Overland Park, Kansas 66211

Attention: Michael A. Tilden

Fax No. 877-379-1625

 

with a copy to:

 

Polsinelli PC

900 West 48th Place, Suite 900

Kansas City, Missouri 64112

Attention: Kraig Kohring

Fax No. 816-753-1536

 

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

 

Section
6.06          Severability Clause.

 

Any part, provision, representation
or warranty of this Agreement which is prohibited or which is held to be void or unenforceable shall be ineffective to the extent
of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction as to any Mortgage Loan shall not invalidate or render unenforceable such provision in any other jurisdiction.
To the extent permitted by applicable law, the parties hereto waive any provision of law which prohibits or renders void or unenforceable
any provision hereof. If the invalidity of any part, provision, representation or warranty of this Agreement shall deprive any
party of the economic benefit intended to be conferred by this Agreement, the parties shall negotiate, in good faith, to develop
a structure the economic effect of which is nearly as possible the same as the economic effect of this Agreement without regard
to such invalidity.

 

Section
6.07          Counterparts.

 

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

 

Section
6.08          Governing Law.

 

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

 

Section
6.09          Protection of Privileged Information.

 

     27

     

    

 

If the Primary Servicer
receives Privileged Information from the Master Servicer with a notice stating that such information is Privileged Information,
the Primary Servicer shall not disclose such Privileged Information to any Person without the prior written consent of the Master
Servicer.

 

Section
6.10          Intention of the Parties.

 

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

 

Section
6.11          Third Party Beneficiary.

 

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

 

Section
6.12          Successors and Assigns; Assignment of Agreement.

 

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

 

Section
6.13          Waivers.

 

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

 

Section
6.14          Exhibits.

 

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

 

     28

     

    

 

Section
6.15          General Interpretive Principles.

 

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

 

Section
6.16          Complete Agreement.

 

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

 

Section
6.17          Further Agreement.

 

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

 

Section
6.18          Amendments.

 

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

 

[Remainder of Page Intentionally Left Blank]

 

     29

     

    

 

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

	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION	 
	 	 	 
	 	By:	/s/ Nachette Hadden	 
	 	 	Name: Nachette Hadden	 
	 	 	Title:   Director	 

 

MSBAM 2016-C31

KeyBank
Primary Servicing Agreement

 

     

     

    

 

	 	 	 	 
	 	KEYBANK NATIONAL ASSOCIATION	 
	 	 	 
	 	By:	/s/ Michael A. Tilden	 
	 	 	Name: Michael A. Tilden	 
	 	 	Title:   Vice President	 

 

MSBAM 2016-C31

KeyBank
Primary Servicing Agreement

 

     

     

    

 

EXHIBIT A

 

MORTGAGE LOAN SCHEDULE

 

	Loan
    No. / 

    Property No.	Property
    Name	Cut-off
    Date Balance	Primary
    Servicing 

    Fee
	4	SpringHill Suites - Seattle	$45,000,000	0.01000%
	11	Thanksgiving Station IV	$29,419,866	0.01000%
	19	Shoppes of Parkland	$16,513,794	0.01000%
	34	Oxbow Crossing	$7,640,780	0.01000%
	40	Fresenius & DSI Portfolio	$6,050,000	0.01000%
	46	Ladera Office Building	$4,410,000	0.01000%
	50	Walgreens - Vista, CA	$3,920,343	0.01000%
	51	Cherokee Square	$3,877,595	0.01000%
	52	West Market Plaza	$3,640,000	0.01000%
	55	Parkway Business Center	$3,006,225	0.01000%
	56	George Thomas Plaza	$2,865,202	0.01000%
	57	Shady Trail Business Center	$2,776,390	0.01000%

  

     A-1

     

    

 

EXHIBIT
B

PRIMARY SERVICER’S OFFICER’S CERTIFICATE

 

I,
_______________, hereby certify that I am the duly elected of [Primary Servicer], a corporation organized under the laws of the State
of (the “Primary Servicer”) and further as follows:

 

(i)          Attached
hereto as Exhibit 1 is a true, correct and complete copy of the articles of
incorporation of the Primary Servicer which are in full force and effect on the date hereof and which have been in effect without
amendment, waiver, rescission or modification since

 

(ii)         Attached
hereto as Exhibit 2 is a true, correct and complete copy of the by-laws of
the Primary Servicer which are in effect on the date hereof and which have been in effect without amendment, waiver, rescission
or modification since

 

(iii)        Attached
hereto as Exhibit 3 is an original certificate of good standing of the Primary
Servicer, issued within ten days of the date hereof, and no event has occurred since the date thereof which would impair such
standing.

 

(iv)        Either
(i) no consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery
and performance by the Primary Servicer of or compliance by the Primary Servicer with the Primary Servicing Agreement or the consummation
of the transactions contemplated by the Primary Servicing Agreement; or (ii) any required consent, approval, authorization or
order has been obtained by the Primary Servicer.

 

(v)         Neither
the consummation of the transactions contemplated by, nor the fulfillment of the terms of the Primary Servicing Agreement, conflicts
or will conflict with or results or will result in a breach of or constitutes or will constitute a default under the charter or
by-laws of the Primary Servicer, the terms of any indenture or other agreement or instrument to which the Primary Servicer is
a party or by which it is bound or to which it is subject, or any statute or order, rule, regulation, writ, injunction or decree
of any court, governmental authority or regulatory body to which the Primary Servicer is subject or by which it is bound.

 

(vi)        There
is no action, suit, proceeding or investigation pending or to the best of my knowledge threatened against the Primary Servicer
which, in our judgment, either in any one instance or in the aggregate, may result in any material adverse change in the business,
operations, financial conditions, properties or assets of the Primary Servicer or in any material impairment of the right or ability
of the Primary Servicer to carry on its business substantially as now conducted or in any material liability on the part of the
Primary Servicer or which would draw into question the validity of the Primary Servicing Agreement or of any action taken or to
be taken in connection with the transactions contemplated hereby, or which would be likely to impair materially the ability of
the Primary Servicer to perform under the terms of the Primary Servicing Agreement.

 

     B-1

     

    

 

(viii)      Each
person listed on Exhibit 5 attached hereto who, as an officer or representative
of the Primary Servicer, signed the Primary Servicing Agreement and any other document delivered prior hereto or on the date hereof
in connection with the Primary Servicing Agreement, was, at the respective times of such signing and delivery, and is now, a duly
elected or appointed, qualified and acting officer or representative of the Primary Servicer, who holds the office set forth opposite
his or her name on Exhibit 5, and the signatures of such persons appearing
on such documents are their genuine signatures.

 

(ix)        The
Primary Servicer is duly authorized to engage in the transactions described and contemplated in the Primary Servicing Agreement.

 

     B-2

     

    

 

IN
WITNESS WHEREOF, I have hereunto signed my name and affixed the seal of the Primary Servicer.

	 	 	 	 	 	 
	Dated:	 	 	By	 	 

	 	 	Name:	 	 
	[Seal]	 	Title:  [Vice]
    President	 

  

I,
________________, an [Assistant] Secretary of [Primary Servicer], hereby certify that _________________________ is the duly elected, qualified and acting
[Vice] President of the Primary Servicer and that the signature appearing above is [her] [his] genuine signature.

 

IN WITNESS
WHEREOF, I have hereunto signed my name.

	 	 	 	 	 	 
	Dated:	 	 	By	 	 

	 	 	Name:	 	 
	[Seal]	 	Title:  [Vice]
    President	 

 

     B-3

     

    

 

EXHIBIT
5

 

To

 

Primary
Servicer’s Officer’s Certificate

 

	Name	 	 	 	 Title	 	 	 	Signature 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

     B-4

     

    

 

EXHIBIT
C

 

POOLING
AND SERVICING AGREEMENT

 

Previously delivered.

 

     C-1

     

    

 

EXHIBIT
D

 

RESERVED

 

     D-1

     

    

 

EXHIBIT
E

 

QUARTERLY
SERVICING CERTIFICATION

 

Primary
Servicer:

 

RE:
MSBAM 2016-C31

 

Pursuant
to the Servicing Agreement(s) between Wells Fargo Bank, National Association and [Primary Servicer], we certify with respect to
each mortgage loan serviced by us for Wells Fargo Bank, National Association that, as of the quarter ending, except as otherwise
noted below:

 

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

 

Based
on [Primary Servicer’s] monitoring of the insurance in accordance with the Servicing Standard, all required insurance policies
are in full force and effect on the mortgaged premises in the form and amount and with the coverage required by the Servicing
Agreement(s).

 

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

 

All
reserves are maintained and disbursed in accordance with the loan documents and no obligation for which a reserve is held has
not been completed within the time required by the applicable document.

 

	EXCEPTIONS:	 	 
	 	 	 
	 	 	 
	 	 	 
	Servicing Officer	 	Date

 

     E-1

     

    

 

EXHIBIT
F

 

FORM
OF ACCOUNT CERTIFICATION

	 	 	 
	Securitization:	 	 
	 	 	 
	Primary
    Servicer:	 

 

	 	 	  New
    Account	 	 	  Change
    of Account Information
	 	 	 	 	 	 
	Indicate purpose of account (check
    all that apply):
	 	 	 	 	 	 
	 	 	  Principal
    & Interest	 	  Deposit
    Clearing
	 	 	  Taxes
    & Insurance	 	  Disbursement
    Clearing
	 	 	  Reserves
    (non-interest bearing)	 	  Suspense
	 	 	  Reserves
    (interest bearing)	 	 	 

 

	Account
    Number:	 
	 	 	 
	Account Name:	 	 

 

Depository
Institution (and Branch):

	 	 	 	 	 	 
	 	Name:	 
	 	 	 	 	 	 
	 	Street:	 
	 	 	 	 	 	 
	 	City,
    State, Zip: 	 
	 	 	 	 	 	 
	 	Rating
    Agency:	 	Rating:	 

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

	 	 	 	 	 	 
	Prepared
    by:	 
	 	 	 	 	 	 
	Signature:	 
	 	 	 	 	 	 
	Title:	 
	 	 	 	 	 	 
	Date:	 
	 	 	 	 	 	 
	Telephone: 	 	Fax:	 

 

    F-1

     

    
 

EXHIBIT
G

 

FORM
OF

COLLECTION
REPORT

 

Series
_____

 

Month
of __________________

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24	25	26	27	28	29	30	31	32	33	34	35	36	37	38	39
	Sub

    Serv

    ID	Master

    Servicer

    Loan#	Sub-

    Servicer

    Loan#	Prosp

    ID	Sched

    Due

    Date	Begin

    Balance

    Prior to Pmt	Ending

    Balance

    After Pmt	Paid

    Thru

    Date	Current

    Note

    Rate	Sub-

    Servicer

    Fee Rate	Sched

    Prin

    Pmt	Sched

    Int

    Pmt	Sched

    P&I

    Amount	Sched

    Sub-Serv

    Fee	Sched

    Addl

    Sub-Sub

    Fee	Neg
    Am/

    Deferred Int

    Amount	Unsched

    Principal

    Rec’d	Other

    Principal

    Adjust	Other

    Interest

    Adjust	Liq/

    Prepmt

    Date	Prepmt

    Penalty / YM

    Rec’d	Prepmt

    Int

    Exc/Short	Liq/

    Prepmt

    Code	T&I

    Advances

    O/S	Pmt

    Eff Date

    Recd	Actual

    Principal

    Rec’d	Actual
    (Gross)

    Interest

    Rec’d	Actual

    Sub-Servicer

    Fee Paid	Addl

    Sub-Sub

    Fee Paid	Actual
    (Net)

    Interest

    Rec’d	Late

    Charges

    Rec’d	Default

    Interest

    Rec’d	Assum

    Fees

    Rec’d	Addl

    Fees

    Rec’d	Remittance

    Amount	Actual

    Loan

    Balance	Total

    Reserve

    Balance	Pmt

    Loan

    Status	Comments
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	0.00  	0.00  	0.00  	0.00  	0.00  	0.00  	0.00  	0.00  	0.00  	 	0.00  	0.00  	 	0.00  	 	0.00  	0.00  	0.00  	 	 	0.00  	0.00  	0.00  	0.00  	0.00  	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	NET REMIT
    TO MS  	-   
    	 	 	 	 

 

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

 

    G-1

     

    
 

EXHIBIT
H

 

FORM
OF CERTIFICATE OF INSURANCE

 

	Primary
    Servicer:	 	 

 

Re:           MSBAM
2016-C31

 

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

	 	 	 	 
	Servicing
    Officer	 	Date	 

 

    H-1

     

    
 

EXHIBIT
I

 

NEW
LEASE INFORMATION

 

	Loan
    #	 	  Property
    Type: 	 	  Tenant:	 

	Property
    Name/Address:	 

	Term
    (Years, Months):	 	  Sq
    Ft Gross Rentable:	 	  Net
    Rentable	 

	Begin
    Lease Date:	 	  Retail

	End
    Lease Date:	 	  Office

	Occupancy
    Date (if diff):	 	  Other

	Minimum
    Rent	 	  (S/SF/YR)

 

	Change
        to

        Change
        to

        Change
        to

        Change
        to

	on

        on

        on

        on

	 	              (Mo/Yr)              Escalation:               CPI               Other
	 	 	 	 
	Percentage
        Rent

                 

        %
        Amount

	For	 	%
    Rent Due:	  
	 
    	For	 	  	Monthly
	 
    	Up
    to	 	  	Quarterly
	  	Up
    to	 	  	Annually
	 	 	 	 	 
	Breakpoint	(S/Yr)	 	Sales
        Report Due:

        	  
	 	 	 	 	 
	  	  	 	 

        (Mo/Yr)

	  
	Change
    to	on	 	  	Monthly
	Change
    to	on	 	  	Quarterly
	Change
    to	on	 	  	Annually
	 	 	 	 	 
	Recoveries	  	 	  	  
	 	 	 	 	 
	Taxes	 
    	 	Per	 
    
	Insurance	 
    	 	Per	 
    
	Cam	 
    	 	Per	 
    
	HVAC	 
    	 	Per	 
    
	Adver/Promo  	 	 
    	 	Per	 
    
	 
    	  	 	Per	 
    
	 
    	  	 	Per	 
    
	Management	 
    	 	Per	 
    

 

    I-1

     

    

 

Renewal
Options

 

	 	Term	 	  SF	 	 

	 	Minimum
    rent 	 	  Gross
    Rentable 	 	 

	 	% Rent	 	  Net
    Rentable	 	 

 

Landlord
Costs

	 	Alterations:	 

	 	Commissions:	 

	 	Moving
    Allowances:	 

	 	Buyout
    Clauses:	 

	 	Other:	 

 

Building
Insurance Requirements 

	 	Tenant maintains fire &
    ED on building(s); will need coverage to renew Does not furnish building coverage
	 	General liability naming landlord mortgagee
    as additional insured; will need coverage for review
	 	General liability without mentioning landlord’s
    mortgagee; do not need coverage

 

Waiver
of Subrogation 

	 	N/A
	 	Mutual; will need endorsement
	 	Landlord only; will need endorsement
	 	Tenant only; do not need endorsement

 

Comments:

 

Attachments: 

	 	Original Lease
	 	Original Subordination Agreement

 

    I-2

     

    

 

EXHIBIT
J

 

MONTHLY
SERVICING ACCOUNTS CERTIFICATION

 

	Primary
    Servicer: 	 	 

 

Re:         MSBAM
2016-C31

 

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

 

	EXCEPTIONS:	 
	 	 
	 	 

 

	 	 	 
	Servicing Officer	 	Date

 

    J-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00264-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00264-of-00352.parquet"}]]