Document:

Exhibit 4.6 

 

EXECUTION VERSION

 

AGREEMENT
BETWEEN NOTE HOLDERS

 

Dated
as of August 28, 2018

 

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),

 

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

(Initial Note A-2 Holder),

 

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

(Initial Note A-3 Holder),

 

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

(Initial Note A-4 Holder),

 

and

 

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

(Initial Note A-5 Holder)

 

Wyvernwood
Apartments

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	 	Page
	 	 	 
	Section 1.	Definitions	2
	Section 2.	Servicing of the Mortgage Loan	17
	Section 3.	Priority of Payments	23
	Section 4.	Workout	24
	Section 5.	Administration of the Mortgage Loan	25
	Section 6.	Rights of the Controlling Note Holder	29
	Section 7.	Appointment of Special Servicer	32
	Section 8.	Payment Procedure	33
	Section 9.	Limitation on Liability of the Note Holders	34
	Section 10.	Bankruptcy	34
	Section 11.	Representations of the Note Holders	35
	Section 12.	No Creation of a Partnership or Exclusive Purchase Right	35
	Section 13.	Other Business Activities of the Note Holders	36
	Section 14.	Sale of the Notes	36
	Section 15.	Registration of the Notes and Each Note Holder	39
	Section 16.	Governing Law; Waiver of Jury Trial	40
	Section 17.	Submission To Jurisdiction; Waivers	40
	Section 18.	Modifications	41
	Section 19.	Statement of Intent	41
	Section 20.	Successors and Assigns; Third Party Beneficiaries	41
	Section 21.	Counterparts	41
	Section 22.	Captions	41
	Section 23.	Severability	41
	Section 24.	Entire Agreement	42
	Section 25.	Withholding Taxes	42
	Section 26.	Custody of Mortgage Loan Documents	43
	Section 27.	Cooperation in Securitization	43
	Section 28.	Notices	44
	Section 29.	Broker	45
	Section 30.	Certain Matters Affecting the Agent	45
	Section 31.	Reserved	45
	Section 32.	Resignation or Termination of Agent	45
	Section 33.	Resizing	46

 

     -i-

     

    

 

This
AGREEMENT BETWEEN NOTE HOLDERS (this “Agreement”), dated as of August 28, 2018 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”)), 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”), UBS AG, New York Branch (together with its successors and assigns in interest,
as initial owner of Note A-3 described below, in its capacity as the “Initial Note A-3 Holder”), UBS AG, New
York Branch (together with its successors and assigns in interest, as initial owner of Note A-4 described below, in its capacity
as the “Initial Note A-4 Holder”) and UBS AG, New York Branch (together with its successors and assigns in
interest, as initial owner of Note A-5 described below, in its capacity as the “Initial Note A-5 Holder”);
the Initial Note A-1 Holder, the Initial Note A-2 Holder, the Initial Note A-3 Holder, the Initial Note A-4 Holder and the Initial
Note A-5 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
was evidenced, inter alia, by five promissory notes, 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 $40,000,000.00, (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 $28,000,000.00, (iii) one promissory
note designated Promissory Note A-3 made by the Mortgage Loan Borrower in favor of UBS AG, New York Branch in the original principal
amount of $5,000,000.00, (iv) one promissory note designated Promissory Note A-4 made by the Mortgage Loan Borrower in favor
of UBS AG, New York Branch in the original principal amount of $3,000,000.00, and (v) one promissory note designated Promissory
Note A-5 made by the Mortgage Loan Borrower in favor of UBS AG, New York Branch in the original principal amount of $2,000,000.00.
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”; the note referenced in clause (iii)
of the preceding sentence, as amended, modified or supplemented, is referred to herein as “Note A-3”; the
note referenced in clause (iv) of the preceding sentence, as amended, modified or supplemented, is referred to herein
as “Note A-4”; and the note referenced in clause (v) of the preceding sentence, as amended, modified
or supplemented, is referred to herein as “Note A-5”. Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 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”);

 

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WHEREAS,
the Initial Note A-1 Holder, the Initial Note A-3 Holder, the Initial Note A-4 and the Initial Note A-5 Holder each intends to
sell, transfer and assign its respective right, title and interest in and to Note A-1, Note A-3, Note A-4 and Note A-5 to UBS
Commercial Mortgage Securitization Corp. (“UBSCMSC”) pursuant to a Mortgage Loan Purchase Agreement expected
to be entered into in connection with the UBS Commercial Mortgage Trust 2018-C12, Commercial Mortgage Pass-Through Certificates,
Series 2018-C12 transaction, between UBSCMSC, as purchaser, and the Initial Note A-1 Holder, the Initial Note A-3 Holder, the
Initial Note A-4 and the Initial Note A-5 Holder, as seller, and UBSCMSC intends to transfer its right, title and interest in
and to each of Note A-1, Note A-3, Note A-4 and Note A-5 to Wells Fargo Bank, National Association, as trustee for UBS Commercial
Mortgage Trust 2018-C12 under a pooling and servicing agreement, expected to be dated as of August 1, 2018 (the “Note
A-1 PSA”), among UBSCMSC, as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master
servicer and as special servicer, Wells Fargo Bank, National Association, as trustee, Wells Fargo Bank, National Association,
as certificate administrator and Park Bridge Lender Services LLC, as operating advisor and as asset representations reviewer;

 

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

 

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

 

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

 

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“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 a Non-Lead Asset Representations Reviewer,
as contemplated by Item 1101(m) of Regulation AB.

 

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

 

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

 

“CLO
Asset Manager” with respect to any Securitization Vehicle that is a CLO, 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-1.

 

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“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 a Mortgage Borrower Related Party, 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).

 

“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, (ii) with respect
to the Note A-2 Securitization, the depositor under the Note A-2 PSA, (iii) with respect to the Note A-3 Securitization, the depositor
under the Note A-3 PSA, (iv) with respect to the Note A-4 Securitization, the depositor under the Note A-4 PSA and (v) with respect
to the Note A-5 Securitization, the depositor under the Note A-5 PSA.

 

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

 

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

 

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

 

“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.

 

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

 

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

 

“Initial
Note A-5 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.

 

“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 CLO, 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 CLO.

 

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

 

    -5-

     

    

 

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

 

“Lead
Securitization 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 Securitization of any Note (other than Note
A-1) but prior to the Note A-1 Securitization Date, the Note to be contributed to the First Securitization; and (b) on and after
the Note A-1 Securitization Date, Note A-1.

 

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

 

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

 

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

 

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

 

“Master
Servicer” shall mean the master servicer related to the Mortgage Loan under 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.

 

    -6-

     

    

 

“Mortgage
Loan Agreement” shall mean the Loan Agreement, dated as of July 6, 2018 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 each of Note A-2, Note A-3, Note A-4 and Note A-5 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 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.

 

“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

 

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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, (i) on and after the Note A-1 Securitization Date, the Note A-2 Securitization, the Note
A-3 Securitization, the Note A-4 Securitization and the Note A-5 Securitization, as applicable and (ii) prior to the Note A-1
Securitization Date, any Securitization other than the First Securitization.

 

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

 

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

 

“Non-Lead
Securitization Servicing Agreement” shall mean the servicing agreement for the related Non-Lead Securitization.

 

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

 

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

 

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

 

    -8-

     

    

 

“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.

 

“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.

 

    -9-

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Note
A-3 Trustee” shall mean the trustee under the Note A-3 PSA.

 

“Note
A-3 Trust Fund” shall mean the trust formed pursuant to the Note A-3 PSA.

 

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

 

    -10-

     

    

 

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

 

“Note
A-4 Master Servicer” shall mean the master servicer under the Note A-4 PSA.

 

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

 

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

 

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

 

“Note
A-4 Securitization Date” shall mean the closing date of the Note A-4 Securitization.

 

“Note
A-4 Special Servicer” shall mean the special servicer under the Note A-4 PSA.

 

“Note
A-4 Trustee” shall mean the trustee under the Note A-4 PSA.

 

“Note
A-4 Trust Fund” shall mean the trust formed pursuant to the Note A-4 PSA.

 

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

 

“Note
A-5 Holder” shall mean the Initial Note A-5 Holder or any subsequent holder of Note A-4, as applicable.

 

“Note
A-5 Master Servicer” shall mean the master servicer under the Note A-5 PSA.

 

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

 

“Note
A-5 PSA” shall mean the pooling and servicing agreement entered into in connection with the Note A-5 Securitization.

 

“Note
A-5 Securitization” shall mean the first sale by the Note A-5 Holder of all or a portion of Note A-5 to a depositor
who will in turn include such portion of Note A-5 as part of the securitization of one or more mortgage loans.

 

    -11-

     

    

 

“Note
A-5 Securitization Date” shall mean the closing date of the Note A-5 Securitization.

 

“Note
A-5 Special Servicer” shall mean the special servicer under the Note A-5 PSA.

 

“Note
A-5 Trustee” shall mean the trustee under the Note A-5 PSA.

 

“Note
A-5 Trust Fund” shall mean the trust formed pursuant to the Note A-5 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, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder
and the Note A-5 Holder.

 

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

 

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

 

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

 

“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, the Note A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance and the Note A-5
Principal Balance, (b) with respect to the Note A-2 Holder, a fraction, expressed as a percentage, the numerator of
which is the Note A-2 Principal Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note
A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance and the Note A-5 Principal Balance, (c)
with respect to the Note A-3 Holder, a fraction, expressed as a percentage, the numerator of which is the Note A-3 Principal
Balance and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note
A-3 Principal Balance, the Note A-4 Principal Balance and the Note A-4 Principal Balance, (d) with respect to the Note A-4
Holder, a fraction, expressed as a percentage, the numerator of which is the Note A-3 Principal Balance and the denominator
of which is the sum of the Note A-1 Principal Balance, the Note 

 

    -12-

     

    

 

A-2 Principal Balance, the Note A-3 Principal Balance, the Note A-4 Principal Balance and the Note A-5 Principal Balance and (e)
with respect to the Note A-5 Holder, a fraction, expressed as a percentage, the numerator of which is the Note A-5 Principal Balance
and the denominator of which is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal
Balance, the Note A-4 Principal Balance and the Note A-5 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.

 

“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.

 

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

 

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

 

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

 

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

 

(b)          
the trustee on behalf of the trust certificates issued pursuant to a master trust agreement involving a CLO 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 CLO or other securitization
vehicle are rated by each of the Rating Agencies that assigned a rating to one or more classes of securities issued in connection
with the Lead Securitization, or

 

(c)          
one or more of the following:

 

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

 

    -13-

     

    

 

(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 loan obligations
(“CLO”), 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 (and, if DBRS is not one of such Rating Agencies, the special servicer for the Securitization Vehicle is an Approved Servicer));
(2) in the case of a Securitization Vehicle that is not a CLO, the special servicer of such Securitization Vehicle has a
Required Special Servicer Rating or is otherwise subject to Rating Agency Confirmation 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 CLO, the CLO Asset Manager and, if applicable,
each Intervening Trust Vehicle that is not administered and managed by a CLO Asset Manager which is a Qualified Institutional
Lender, are each a Qualified Institutional Lender under clauses (i), (ii), (iv) or (v) of this
definition, or

 

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

 

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

 

    -14-

     

    

 

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.

 

“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

 

    -15-

     

    

 

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.

 

“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

 

    -16-

     

    

 

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, acting through Standard & Poor’s Financial Services LLC, and its successors-in-interest.

 

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

 

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

 

“Securitization”
shall mean the Note A-1 Securitization, the Note A-2 Securitization, the Note A-3 Securitization, the Note A-4 Securitization
and the Note A-5 Securitization, as applicable.

 

“Securitization
Date” shall mean the effective date on which the Securitization of the first Note or any 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.

 

“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.

 

    -17-

     

    

 

“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.

 

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

 

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

 

    -18-

     

    

 

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 each Non-Lead Securitization Servicing Agreement necessary
to enable each such servicer to perform its servicing duties under such Non-Lead Securitization Servicing Agreement, and (iii) to
not take any action or refrain from taking any action or follow any direction inconsistent with the foregoing.

 

At
any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note
Holders agree to cause the Mortgage Loan to be serviced by one or more servicers, each of which has been agreed upon by the Note
Holders, pursuant to a servicing agreement that has servicing terms substantially similar to the Lead Securitization Servicing
Agreement and all references herein to the “Lead Securitization Servicing Agreement” shall mean such subsequent
servicing agreement; provided, that if a Non-Lead Securitization Note is in a Securitization and the servicer(s)
to be appointed under such replacement servicing agreement would not otherwise meet the conditions to be a servicer under the
Lead Securitization Servicing Agreement that is being replaced, then a Rating Agency

 

    -19-

     

    

 

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 an Approved Servicer. 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), each Non-Lead Securitization Note
Holder (including any Securitization Trust into which such Non-Lead Securitization Note is deposited) shall be required to, promptly
following notice from the Master Servicer, reimburse the Lead Securitization for its pro rata share of such 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 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

 

    -20-

     

    

 

for reimbursement of such amounts. Each Non-Lead
Securitization Note Holder agrees to indemnify (as and to the same extent the Lead Securitization Trust is required to indemnify
each of the following parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the
Lead Securitization Servicing Agreement) each of the Depositor 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, each Non-Lead Securitization Note Holder shall be required to, promptly
following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties
for its pro rata share of the insufficiency; provided, that a Non-Lead Securitization Note Holder’s duty to
pay Indemnified Items to the Operating Advisor shall be subject to any limitations and conditions (including limitations and conditions
with respect to the timing of such payments and the sources of funds for such payments) as may be set forth from time to time
in a Non-Lead Securitization Servicing Agreement with respect to the Non-Lead Operating Advisor.

 

Any
Non-Lead Master Servicer (or Non-Lead Trustee (if not made by such Non-Lead Master Servicer)) may be required to make P&I
Advances on the respective Non-Lead Securitization Note, from time to time, subject to the terms of the related Non-Lead Securitization
Servicing Agreement, the Lead Securitization Servicing Agreement and this Agreement. The Master Servicer, the Special Servicer
and the Trustee, as applicable, shall be entitled to make their own recoverability determination with respect to a P&I Advance
to be made on the Lead Securitization Note based on the information that they have on hand and in accordance with the Lead Securitization
Servicing Agreement. Any Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee under any Non-Lead Securitization
Servicing Agreement, as applicable, shall 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 a Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee, as
applicable (with respect to a Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable
or an outstanding P&I Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee,
as applicable, subsequently determines that a proposed Servicing Advance would be non-recoverable or an outstanding Servicing
Advance is or would be non-recoverable, then the

 

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Master Servicer or the Trustee (as provided in the Lead Securitization Servicing
Agreement, in the case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or
such Non-Lead Master Servicer or Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in
the case of the a determination of non-recoverability by a Non-Lead Master Servicer, a Non-Lead Special Servicer or a Non-Lead
Trustee) shall notify the Master Servicer and the Trustee, or the related Non-Lead Master Servicer and the related Non-Lead Trustee,
as the case may be, of such other 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 a Non-Lead Securitization
Note, from general collections of the related Securitization Trust, as and to the extent provided in the related Non-Lead Securitization
Servicing Agreement.

 

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

 

(i)          
such Non-Lead Securitization Note Holder shall be responsible for its pro rata share of any Servicing Advances that
are Nonrecoverable Advances (and 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 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;

 

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(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 a 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 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 

 

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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 a 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.
Each 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, each Securitization Servicing Agreement shall contain provisions
substantially similar in all material respects to or materially consistent with those set forth in Note A-1 PSA with respect to
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.

 

(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

 

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 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 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 each Non-Lead Securitization Note’s pro rata share of that portion of
such servicing fees calculated at the “primary servicing fee rate” applicable to the Mortgage Loan as set forth in
the Lead Securitization Servicing Agreement, which such excess shall not be subject to the allocation provisions of this Section
3) shall be payable in accordance with the Lead Securitization Servicing Agreement.

 

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

 

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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 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 each Non-Lead Securitization Note Holder hereby presently and irrevocably assigns and conveys to the Lead Securitization
Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on 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. Notwithstanding the foregoing, the Lead Securitization
Note Holder (or the Special Servicer acting on its behalf) shall not be permitted to

 

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sell the Mortgage Loan without the written
consent of each Non-Lead Securitization Note Holder (unless with respect to each Non-Lead Securitization Note Holder, 50% or more
of the related Note (or the class of securities issued in the applicable 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 each Non-Lead Securitization Note Holder: (a) at least fifteen (15) Business Days prior written notice of any decision
to attempt to sell the Mortgage Loan; (b) at least ten (10) days prior to the proposed sale date, a copy of each bid package
(together with any amendments to such bid packages) received by the Special Servicer in connection with any such proposed sale;
(c) at least ten (10) days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and
any documents in the Servicer Mortgage File requested by such Non-Lead Securitization Note Holder; and (d) until the sale
is completed, and a reasonable period of time (but no less time than is afforded to other offerors and the 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 (only with respect to itself) 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 of any representation or warranty made
by the holder of the Lead Securitization Note that sold

 

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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. Each 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 each Non-Lead Securitization Note Holder (or its Note Holder Representative), within the same time frame it is required to
provide to the Lead Securitization 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 a period of ten (10) Business Days from the delivery to such Non-Controlling Note Holder (or its

 

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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 attend 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 provisions of this paragraph shall be effected by compliance with any REMIC related provisions

 

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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 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.

 

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(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.

 

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

 

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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, the Initial Note A-3 Holder, the Initial Note A-4 Holder and the Initial
Note A-5 Holder, as applicable, provided that at any time a 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 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

 

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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 that
satisfies the Required Special Servicer Rating requirements in lieu thereof. Any designation by the Controlling Note Holder
(or its Controlling Note Holder Representative) of a Person to serve as Special Servicer shall be made by delivering to each
other Note Holder, the Master Servicer, the Special Servicer and each other party to the Lead Securitization Servicing
Agreement a written notice stating such designation and satisfying the other conditions to such replacement as set forth in
the Lead Securitization Servicing Agreement (including, without limitation, a Rating Agency Communication or a Rating Agency
Confirmation, but only if required by the terms of the Lead Securitization Servicing Agreement), if any. The Controlling Note
Holder shall be solely responsible for any expenses incurred in connection with any such replacement without cause. The
Controlling Note Holder shall notify the other parties hereto of its termination of the then currently serving Special
Servicer and its appointment of a replacement Special Servicer in accordance with this Section 7. If the
Controlling Note Holder has not appointed a Special Servicer with respect to the Mortgage Loan as of the consummation of the
securitization under the Lead Securitization Servicing Agreement, then the initial Special Servicer designated in the Lead
Securitization Servicing Agreement shall serve as the initial Special Servicer but this shall not limit the right of the
Controlling Note Holder (or its Controlling Note Holder Representative) to designate a replacement Special Servicer for the
Mortgage Loan as aforesaid. If a Servicer Termination Event on the part of the Special Servicer has occurred that affects any
Non-Controlling Note Holder, such Non-Controlling Note Holder shall have the right to direct the Trustee (or at any time that
the Mortgage Loan is no longer included in a Securitization Trust,

 

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

 

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

 

(a)          
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,

 

(b)         
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,

 

(c)          
it is duly organized, validly existing, in good standing and in possession of all licenses and authorizations necessary to carry
on its business,

 

(d)         
this Agreement has been duly executed and delivered by such Note Holder, and

 

(e)          
to such Note Holder’s actual knowledge, (A) all consents, approvals, authorizations, orders or filings of or with any court
or governmental agency or body, if any,

 

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required for the execution, delivery and performance of this Agreement by such Note Holder
have been obtained or made and (B) there is no pending action, suit or proceeding, arbitration or governmental investigation against
such Note Holder, an adverse outcome of which would materially and adversely affect its performance under this Agreement.

 

Section
12.          No Creation of a Partnership or Exclusive Purchase
Right. Nothing contained in this Agreement, and no action taken pursuant hereto shall be deemed to constitute the
relationship created hereby between the Note Holders as a partnership, association, joint venture or other entity. The Lead
Securitization Note Holder shall have no obligation whatsoever to offer to any Non-Lead Securitization Note Holder the
opportunity to purchase a participation interest in any future loans originated by the Lead Securitization Note Holder or its
Affiliates and if the Lead Securitization Note Holder chooses to offer to any Non-Lead Securitization Note Holder the
opportunity to purchase a participation interest in any future mortgage loans originated by the Lead Securitization Note
Holder or its Affiliates, such offer shall be at such purchase price and interest rate as the Lead Securitization Note Holder
chooses, in its sole and absolute discretion. No Non-Lead Securitization Note Holders shall have any obligation whatsoever to
purchase from the Lead Securitization Note Holder a participation interest in any future loans originated by the Lead
Securitization Note Holder or its Affiliates.

 

Section
13.          Other Business Activities of the Note Holders. Each
Note Holder acknowledges that each other Note Holder or its Affiliates may make loans or otherwise extend credit to, and
generally engage in any kind of business with, the Mortgage Loan Borrower or any 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

 

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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 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, Note A-3, Note A-4 and Note A-5, 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

 

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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”)
or to a Person with respect to which a Rating Agency Confirmation has been obtained, on terms and conditions set forth in this
Section 14(c), it being further agreed that a financing provided by a Note Pledgee to a Note Holder or any person
which Controls such Note that is secured by its Note and is structured as a repurchase arrangement, shall qualify as a “Pledge”
hereunder, provided that a Note Pledgee which is not a Qualified Institutional Lender may not take title to the
pledged Note without a Rating Agency Confirmation. Upon written notice by the applicable Note Holder to each other Note Holder
and any Servicer that a Pledge has been effected (including the name and address of the applicable Note Pledgee), each other Note
Holder agrees to acknowledge receipt of such notice and thereafter agrees: (i) to give Note Pledgee written notice of any
default by the pledging Note Holder in respect of its obligations under this Agreement of which default such Note Holder has actual
knowledge; (ii) to allow such Note Pledgee a period of ten (10) days to cure a default by the pledging Note Holder in respect
of its obligations to each other Note Holder hereunder, but such Note Pledgee shall not be obligated to cure any such default;
(iii) that no amendment, modification, waiver or termination of this Agreement shall be effective against such Note Pledgee
without the written consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed; (iv) that
such other Note Holder shall give to 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

 

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obligations of the pledging Note Holder hereunder accruing from and after such Transfer (i.e., realization upon the collateral
by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under
this Section 14(c) shall remain effective as to any Note Holder (and any Servicer) unless and until such Note Pledgee
shall have notified any such Note Holder (and any Servicer, as applicable) in writing that its interest in the pledged Note has
terminated.

 

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

 

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

 

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

 

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

 

(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, 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.

 

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

 

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

 

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

 

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

 

(b)         
CONSENTS THAT ANY SUCH ACTION OR PROCEEDING MAY BE BROUGHT IN SUCH COURTS AND, TO THE EXTENT PERMITTED BY LAW, WAIVES ANY OBJECTION
THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT 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

 

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OR CERTIFIED
MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO ITS ADDRESS SET FORTH HEREIN OR AT SUCH OTHER ADDRESS OF
WHICH A PARTY HEREIN SHALL HAVE BEEN NOTIFIED; AND

 

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

 

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

 

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summarize or
otherwise describe the subject matter of the paragraphs and shall not be given any consideration in the construction of this
Agreement.

 

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

 

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

 

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

 

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Loan Borrower is obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan
or otherwise pursuant to this Agreement. Contemporaneously with the execution of this Agreement and from time to time as necessary
during the term of this Agreement, each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder)
shall deliver to the Lead Securitization Note Holder or Servicer, as applicable, evidence satisfactory to the Lead Securitization
Note Holder substantiating that such Note Holder is not a Non-Exempt Person and that the Lead Securitization Note Holder is not
obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise under this
Agreement. Without limiting the effect of the foregoing, (i) if a Note Holder is created or organized under the laws of the
United States, any state thereof or the District of Columbia, it shall satisfy the requirements of the preceding sentence by furnishing
to the Lead Securitization Note Holder an Internal Revenue Service Form W-9 and (ii) if a Note Holder is not created or organized
under the laws of the United States, any state thereof or the District of Columbia, and if the payment of interest or other amounts
by the Mortgage Loan Borrower is treated for United States income tax purposes as derived in whole or part from sources within
the United States, such Note Holder shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization
Note Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments), 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, the Note A-2 Securitization Date, the Note A-3 Securitization Date, the Note A-4
Securitization Date and the Note A-5 Securitization Date, the originals of all of the Mortgage Loan Documents (other than
Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5) will be held by the Initial Agent on behalf of the registered holders of
the Notes. On and after the Note A-1 Securitization Date, the originals of all of the Mortgage Loan Documents (other than
Note A-2, Note A-3, Note A-4 and Note A-5, unless any such Note is also included in the Note A-1 Securitization) shall be
transferred to and held in the name of the trustee (and held by a duly appointed custodian therefor) under the Note A-1 PSA,
on behalf of the registered holders of the Notes.

 

Section
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

 

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Mortgage Loan Documents and to cooperate with such Securitizing Note
Holder in attempting to cause the Mortgage Loan Borrower to execute such modifications to the Mortgage Loan Documents, in any
such case, as may be reasonably requested by the Rating Agencies to effect such Securitization; provided, that no Non-Securitizing
Note Holder shall be required to modify or amend this Agreement or any Mortgage Loan Documents (or consent to such modification,
as applicable) in connection therewith, if such modification or amendment would (i) change the interest allocable to, or the amount
of any payments due to or priority of such payments to, such Non-Securitizing Note Holder or (ii) materially increase such Non-Securitizing
Note Holder’s obligations or materially decrease such Non-Securitizing Note Holder’s rights, remedies or protections.
In connection with any Securitization, each related Non-Securitizing Note Holder shall provide for inclusion in any disclosure
document relating to such Securitization such information concerning such Non-Securitizing Note Holder and its Note as the related
Securitizing Note Holder reasonably determines to be necessary or appropriate, and such Non-Securitizing Note Holder shall, at
the Securitizing Note Holder’s expense, cooperate with the 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 a Non-Lead Securitization Note becomes the subject of an Asset Review pursuant to the related Non-Lead Securitization Servicing
Agreement, the Master Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate at the Non-Lead
Securitization 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

 

    -45-

     

    

 

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

 

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 documents 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 documents 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.

 

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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 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 Note that is not included in a Securitization (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 Controlling 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, 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

 

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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]

 

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

 

	 	UBS AG, as Initial Note A-1
    Holder
	 	 	 
	 	By:	/s/ David
    Schell
	 	 	Name:  David Schell
	 	 	Title:    Managing Director
	 	 	 
	 	By:	/s/ Racquel
    A.C. Small
	 	 	Name:   Racquel A.C. Small
	 	 	Title:     Executive
    Director
	 	 	 
	 	UBS AG, as Initial Note A-2
    Holder
	 	 	 
	 	By:	/s/ David
    Schell
	 	 	Name:  David Schell
	 	 	Title:    Managing Director
	 	 	 
	 	By:	/s/ Racquel
    A.C. Small
	 	 	Name:   Racquel A.C. Small
	 	 	Title:     Executive
    Director
	 	 	 
	 	UBS AG, as Initial Note A-3
    Holder
	 	 	 
	 	By:	/s/ David
    Schell
	 	 	Name:  David Schell
	 	 	Title:    Managing Director
	 	 	 
	 	By:	/s/ Racquel
    A.C. Small
	 	 	Name:   Racquel A.C. Small
	 	 	Title:     Executive
    Director

 

Wyvernwood Apartments Agreement Between Note
Holders

     

     

    

	 	UBS AG, as Initial Note A-4
    Holder
	 	 	 
	 	By:	/s/ David
    Schell
	 	 	Name:  David Schell
	 	 	Title:    Managing Director
	 	 	 
	 	By:	/s/ Racquel
    A.C. Small
	 	 	Name:   Racquel A.C. Small
	 	 	Title:     Executive
    Director
	 	 	 
	 	UBS AG, as Initial Note A-5
    Holder
	 	 	 
	 	By:	/s/ David
    Schell
	 	 	Name:  David Schell
	 	 	Title:    Managing Director
	 	 	 
	 	By:	/s/ Racquel
    A.C. Small
	 	 	Name:   Racquel A.C. Small
	 	 	Title:     Executive
    Director

 

Wyvernwood Apartments Agreement Between Note
Holders

     

     

    

EXHIBIT A

MORTGAGE LOAN SCHEDULE

Description of Mortgage Loan

	Mortgage Loan Borrower(s):	Thurman Interim California, LLC
	Date of Mortgage Loan:	July 6, 2018
	Date of Notes:	July 6, 2018
	Original Principal Amount of Mortgage Loan:	$78,000,000
	Promissory Note A-1 Principal Balance:	$40,000,000
	Promissory Note A-2 Principal Balance:	$28,000,000
	Promissory Note A-3 Principal Balance:	$5,000,000
	Promissory Note A-4 Principal Balance:	$3,000,000
	Promissory Note A-5 Principal Balance:	$2,000,000
	Location of Mortgaged Property:	Los Angeles, California
	Initial Maturity Date:	July 6, 2023

 

    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.

 

    B-1 

     

    

 

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.

 

	3.	Initial Note A-3 Holder:

 

(Prior to Securitization of Note A-3):

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-3 the applicable notice addresses
set forth in the related Securitization Servicing Agreement.

	4.	Initial Note A-4 Holder:

 

(Prior to Securitization of Note A-4):

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

 

    B-2 

     

    

 

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-4 the applicable notice addresses
set forth in the related Securitization Servicing Agreement.

	5.	Initial Note A-5 Holder:

 

(Prior to Securitization of Note A-5):

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-5 the applicable notice addresses
set forth in the related Securitization Servicing Agreement.

 

    B-3 

     

    

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.	KKR Real Estate Manager Finance LLC

		26.	Lend-Lease Real Estate Investments

		27.	Libremax Capital LLC

		28.	LoanCore Capital

		29.	Lone Star Funds

		30.	Lowe Enterprises

		31.	Normandy Real Estate Partners

		32.	One William Street Capital Management, L.P.

		33.	Och-Ziff Capital Management Group/ OZ Management, L.P./ OZ Management II., L.P.

		34.	Praedium Group

		35.	Raith Capital Partners, LLC

		36.	Rialto Capital Management, LLC

		37.	Rialto Capital Advisors LLC

		38.	Rimrock Capital Management LLC

		39.	Rockpoint Group

		40.	Rockwood

		41.	RREEF Funds

		42.	Square Mile Capital Management

		43.	Starwood Capital Group/Starwood Financial Trust

		44.	The Blackstone Group

		45.	The Carlyle Group

		46.	Torchlight Investors

		47.	Walton Street Capital, L.L.C.

		48.	Westbrook Partners

		49.	WestRiver Capital

		50.	Wheelock Street Capital

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

 

    C-1Exhibit 4.7

 

EXECUTION VERSION

	 

 

Pier
One

 

CO-LENDER
AGREEMENT

 

Dated
as of August 23, 2018

 

by
and among

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-1 Holder)

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-2 Holder)

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-3 Holder)

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-4 Holder)

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-5 Holder)

 

and

 

NATIXIS
REAL ESTATE CAPITAL LLC

(Note A-6 Holder)

	 

 

     

     

    

 

TABLE
OF CONTENTS

 

Page

 

	1.     Definitions;
    Conflicts.	1
	2.     Servicing
    of the Mortgage Loan.	18
	3.     Priority
    of Notes.	20
	4.     Workout.	20
	5.     Accounts;
    Payment Procedure.	21
	6.     Limitation
    on Liability.	21
	7.     Representations
    of the Holders.	22
	8.     Independent
    Analyses of each Holder.	22
	9.     No
    Creation of a Partnership or Exclusive Purchase Right.	23
	10.   Not
    a Security.	23
	11.   Other
    Business Activities of the Holders.	23
	12.   Transfer
    of Notes.	23
	13.   Registration
    of Transfer.	25
	14.   Registration
    of the Notes.	26
	15.   Statement
    of Intent.	26
	16.   Exercise
    of Remedies by the Servicer.	26
	17.   Rights
    of the Directing Holder.	28
	18.   Appointment
    of Special Servicer.	30
	19.   Rights
    of the Non-Directing Holders.	30
	20.   Advances;
    Reimbursement of Advances.	31
	21.   Provisions
    Relating to Securitization.	32
	22.   Governing
    Law; Waiver of Jury Trial.	38
	23.   Submission
    To Jurisdiction; Waivers.	38
	24.   Modifications.	39
	25.   Successors
    and Assigns; Third Party Beneficiaries.	39
	26.   Counterparts.	39
	27.   Captions.	39
	28.   Notices.	39
	29.   Severability.	40
	30.   Entire
    Agreement.	40
	31.   Withholding
    Taxes.	40
	32.   Custody
    of Mortgage Loan Documents.	41
	33.   Certain
    Matters Affecting the Agent.	41
	34.   Termination
    of Agent.	42

 

    -i- 

     

    

 

THIS
CO-LENDER AGREEMENT (the “Agreement”), dated as of August 23rd, 2018, is by and between NATIXIS
REAL ESTATE CAPITAL LLC, a Delaware limited liability company (“Natixis”), having an address at 1251 Avenue
of the Americas, New York, New York 10020, as the holder of Note A-1, Natixis in its capacity as initial agent, the “Initial
Agent”, Natixis, as the holder of Note A-2, Natixis as the holder of Note A-3, Natixis as the holder of Note A-4, Natixis
as the holder of Note A-5 and Natixis as the holder of Note A-6.

 

W I T N E S S E T H:

 

WHEREAS,
Natixis has made a mortgage loan in the original principal amount of $55,000,000 (the “Mortgage Loan”) to Hertz
Fort Worth Energy Way, LP, a Delaware limited partnership (the “Borrower”) pursuant to a loan agreement between
the Borrower, as borrower, and Natixis, as lender, dated as of August 15, 2018 (the “Loan Agreement”), which
Mortgage Loan was evidenced by a single promissory note in the original principal amount of $55,000,000 (the “Original
Promissory Note”);

 

WHEREAS,
the Mortgage Loan is secured by a first mortgage lien (the “Mortgage”) on the Borrower’s fee interest
in the property known as Pier One, located in Fort Worth, Texas (the “Mortgaged Property”);

 

WHEREAS,
pursuant to a Note Splitter and Loan Document Modification Agreement, dated on or about August 15, 2018, the Original Promissory
Note was split into six notes as follows: (i) Promissory Note A-1 in the principal amount of $20,000,000 (“Note A-1”),
(ii) Promissory Note A-2 in the principal amount of $10,000,000 (“Note A-2”), (iii) Promissory Note A-3 in
the original principal amount of $10,000,000 (“Note A-3”), (iv) Promissory Note A-4 in the original principal
amount of $5,000,000 (“Note A-4”), (v) Promissory Note A-5 in the original principal amount of $5,000,000 (“Note
A-5”) and (vi) Promissory Note A-6 in the original principal amount of $5,000,000 (“Note A-6” collectively
with Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5, the “Notes” and each, a “Note”);
and

 

WHEREAS,
the parties hereto desire to enter into this Agreement to memorialize the terms under which they, and their successors and assigns,
shall hold the Notes;

 

WHEREAS,
the Holders (hereinafter defined) intend, but are not bound, to sell transfer and assign all or a portion of their right, title
and interest in and to the Notes to one or more depositors who will in turn transfer the same to one or more trusts as part of
the securitization of one or more mortgage loans; and

 

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

 

1.          Definitions;
Conflicts. References to a “Section” or the “recitals” are, unless otherwise specified, to a Section
or the recitals of this Agreement. Capitalized terms not otherwise defined herein shall have the meaning assigned thereto in the
Servicing Agreement.

 

     

     

    

 

To the extent of any inconsistency between this Agreement and the Servicing Agreement, the terms of this Agreement shall control.
Whenever used in this Agreement, the following terms shall have the respective meanings set forth below unless the context clearly
requires otherwise.

 

“Acceptable
Insurance Default” shall mean:

 

(a)        prior
to the Securitization Date, the meaning assigned to such term in the Model PSA or such other analogous term used in the Model
PSA; and

 

(b)        from
and after the Securitization Date, the meaning assigned to such term in the Servicing Agreement or such other analogous term used
in the Servicing Agreement.

 

“Advance”
shall mean any P&I Advance or Property Advance made with respect to any of the Notes, the Mortgage Loan or the Mortgaged Property
pursuant to the Lead Securitization Servicing Agreement or any Non-Lead Servicing Agreement.

 

“Affiliate”
shall mean, with respect to any specified Person, any other Person Controlling or Controlled by or under common Control with such
specified Person.

 

“Agent”
shall mean the Initial Agent or such Person to whom the Initial Agent shall delegate its duties hereunder, and from and after
the Securitization Date shall mean the Master Servicer in its role as “Companion Paying Agent” (or equivalent term)
under the Servicing Agreement.

 

“Agent
Office” shall mean the designated office of the Agent in the State of New York, which office at the date of this Agreement
is located at Natixis Real Estate Capital LLC, 1251 Avenue of the Americas, New York, New York 10020, 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 Holders.

 

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

 

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

 

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

 

“Asset
Status Report” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term
used in the Servicing Agreement.

 

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

 

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

 

    -2- 

     

    

 

“CLO”
shall have the meaning assigned to such term in the definition of “Qualified Transferee.”

 

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

 

“Certificates”
shall mean any securities issued in connection with the Lead Securitization or a Non-Lead Securitization.

 

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

 

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

 

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

 

“Control”
shall mean 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” have meanings correlative to the foregoing.

 

“CREFC®
Investor Reporting Package®” shall have the meaning assigned to such term or an analogous term
in the Servicing Agreement.

 

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

 

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

 

“Directing
Holder” shall mean (i) during the period prior to the Note A-1 Securitization Date, the Note A-1 Holder or such other
party that the Note A-1 Holder grants the right to exercise the rights granted to the Directing Holder in this Agreement and (ii)
after the Note A-1 Securitization Date, the holders of Certificates representing the specified interest in the class of Certificates
designated as the “controlling class” under the Note A-1 Securitization or the duly appointed representative of the
holders of such Certificates; provided, that no Borrower Party, as defined in the applicable Servicing Agreement, thereof
shall be entitled to act as Directing Holder.

 

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

 

    -3- 

     

    

 

“Excluded
Amounts” shall mean:

 

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

 

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

 

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

 

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

 

“First
Non-Lead Note” shall mean the first Note, other than Note A-1, that is included as part of the securitization of one
or more mortgage loans.

 

“First
Non-Lead Note PSA” shall mean the “pooling and servicing agreement” entered into in connection with the
First Non-Lead Note Securitization.

 

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

 

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

 

“First
Non-Lead Note Trust Fund” shall mean the trust formed pursuant to the First Non-Lead Note PSA.

 

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

 

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

 

“Holder”
shall mean the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder and/or the
Note A-6 Holder, as the context indicates.

 

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

 

    -4- 

     

    

 

“Interim
Servicing Agreement” shall mean at such time that the Mortgage Loan is not serviced pursuant to the Servicing Agreement,
that certain Servicing Agreement, dated as of September 1, 2003, between Natixis, as owner, and Midland Loan Services, Inc.,
as servicer.

 

“Intervening
Trust Vehicle” shall mean, with respect to any Securitization Vehicle that is a CLO, a trust vehicle or entity which
holds Note A-1 as collateral securing (in whole or in part) any obligation or security held by such Securitization Vehicle as
collateral for the CLO.

 

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

 

“Lead
Note” shall mean (i) during the period from and after the First Non-Lead Note Securitization Date and prior to the Note
A-1 Securitization Date, the First Non-Lead Note; and (ii) on and after the Note A-1 Securitization Date, Note A-1.

 

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

 

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

 

“Lead
Securitization Servicing Agreement” shall mean a pooling and servicing agreement, substantially in the form of the Model
PSA (and where such pooling and servicing agreement is not substantially the same as the Model PSA, and the changes would materially
and adversely affect the Mortgage Loan or the Note Holder’s rights with respect thereto), to be entered into in connection
with the Lead Securitization, it being acknowledged that such agreement is subject in all respects to changes (i) required by
the Code relating to the tax elections of the Lead Securitization Trust, (ii) required by law or changes in any law, rule or regulation
and (iii) requested by the Rating Agencies or any purchaser of subordinate certificates.

 

“Lead
Securitization Trust” shall mean (a) during the period from and after the First Non-Lead Note Securitization Date and
prior to the Note A-1 Securitization Date, the trust established under the First Non-Lead Note PSA in connection with the First
Non-Lead Note Securitization and, (b) from and after the Note A-1 Securitization Date, the trust established under the Note A-1
Securitization.

 

“Lead
Servicer” shall mean (a) during the period from and after the First Non-Lead Note Securitization Date and prior to the
Note A-1 Securitization Date, the servicer and/or special servicer designated under the First Non-Lead Note PSA and, (b) from
and after the Note A-1 Securitization Date, the servicer and/or special servicer designated under the Note A-1 PSA.

 

“Lead
Trustee” shall mean (a) during the period from and after the First Non-Lead Note Securitization Date and prior to the
Note A-1 Securitization Date, the trustee designated under the First Non-Lead Note Securitization and, (b) from and after the
Note A-1 Securitization Date, the trustee designated under the Note A-1 Securitization.

 

    -5- 

     

    

 

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

 

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

 

“Major
Action” shall mean:

 

(i)
prior to the Securitization Date:

 

(a)     
any proposed or actual foreclosure upon or comparable conversion (which shall include acquisitions of any REO Property) of the
ownership of the Mortgaged Property;

 

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

  

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

 

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

 

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

 

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

 

(g)      any
waiver of or determination not to enforce a “due on sale” or “due on encumbrance” clause with respect
to the Mortgage Loan or any consent to such a waiver or consent to a transfer of the Mortgaged Property or direct or indirect
interests in the Borrower;

 

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

 

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

 

    -6- 

     

    

 

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

 

(k)       any
determination of an Acceptable Insurance Default;

 

(l)        any
proposed modification or waiver of the types, nature or amount of insurance coverage required to be obtained by the Borrower;

 

(m)      the
execution, termination, modification, waiver or amendment of any ground lease or the granting of a subordination and non-disturbance
or attornment agreement in connection with any ground lease, in each case, to the extent lender approval is required under the
Mortgage Loan Documents;

 

(n)     
any filing of a bankruptcy or similar action against the Borrower or Guarantor or the election of any action in a bankruptcy or
insolvency proceeding to seek relief from the automatic stay or dismissal of a bankruptcy filing or voting for or opposing a plan
of reorganization, seeking or opposing an order for adequate protection, adequate assurance, a Section 363 sale, order shortening
time or similar motion of procedure in an insolvency proceeding or making an Section 1111(b)(2) election on behalf of the Note
Holders;

 

(o)      any
material modification, waiver or amendment of an intercreditor agreement, co-lender agreement or similar agreement with any mezzanine
lender or subordinate debt holder related to the Mortgage Loan, or any action to enforce rights (or decision not to enforce rights)
with respect thereto, or any material modification, waiver or amendment thereof;

 

(p)      approval
of the Annual Budget (as defined in the Loan Agreement) to the extent the Lender’s consent is required under the Loan Agreement;

 

(q)      approval
of (1) any replacement or substitution of a “Key Principal” (as defined in the Loan Agreement), and (2) any “Successor
Guarantor” (as defined in the Loan Agreement);

 

(r)       the
voting on any plan of reorganization, restructuring or similar plan in the bankruptcy of the Borrower;

 

(s)       approval
of any replacement Special Servicer, other than under Section 18; or

 

(t)       any
incurrence of additional debt by the Borrower or any mezzanine financing by any beneficial owner of the Borrower (to the extent
that the lender has consent rights pursuant to the Mortgage Loan Documents (for purposes of the determination whether a lender
has such consent rights pursuant to the Mortgage Loan Documents, any Mortgage Loan Document provision that requires that an intercreditor
agreement be reasonably or otherwise acceptable to the lender shall constitute such consent rights)); and

 

    -7- 

     

    

 

(ii)       from and after the Securitization Date, the meaning assigned to the term “Material Action”, “Major Action”,
“Major Decision” or any equivalent term in the Servicing Agreement.

 

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

 

“Master
Servicer Remittance Date” shall mean:

 

(a)       during
the period after the First Non-Lead Note Securitization Date but prior to the Note A-1 Securitization Date:

 

(i)   with
respect to the First Non-Lead Note, the “Master Servicer Remittance Date” (or analogous term) as defined in the First
Non-Lead Note PSA; and

 

(ii)  with
respect to each Non-Lead Note, (x) if such Note is included in a Securitization, two Business Days prior to the Master Servicer
Remittance Date (or analogous term) as defined in the applicable Non-Lead Servicing Agreement (as long as such date is at least
two Business Days after receipt of the Monthly Payment) and (y) with respect to each other Non-Lead Note, one Business Day after
the Determination Date (as defined in the Note A-1 PSA); and

 

(b)       after
the Note A-1 Securitization Date:

 

(i)   with
respect to Note A-1, the “Master Servicer Remittance Date” (or analogous term) as defined in the Note A-1 PSA; and

 

(ii)  with
respect to each Non-Lead Note, (x) if such Note is included in a Securitization, two Business Days prior to the Master Servicer
Remittance Date (or analogous term) as defined in the applicable Non-Lead Servicing Agreement (as long as such date is at least
two Business Days after receipt of the Monthly Payment) and (y) with respect to each other Non-Lead Note, one Business Day after
the Determination Date (as defined in the Note A-1 PSA).

 

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

 

“Model
PSA” shall mean the pooling and servicing agreement for the CSAIL 2018-CX11 Commercial Mortgage Trust, among Credit
Suisse Commercial Mortgage Securities Corp., as depositor, Midland Loan Services, a Division of PNC Bank, National Association,
as master servicer, LNR Partners, LLC, as special servicer, Wells Fargo Bank, National Association, as certificate administrator
and as trustee, and Park Bridge Lender Services LLC, as operating advisor and as asset representations reviewer.

 

“Monthly
Payment” with respect to any period shall mean all amounts due and payable to any Holder or Holders during such period
in accordance with the Mortgage Loan Documents.

 

    -8- 

     

    

 

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

 

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

 

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

 

“Mortgage
Interest Rate” shall mean, with respect to each Note, the Mortgage Interest Rate set forth in the Mortgage Loan Schedule
with respect to such Note.

 

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

 

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

 

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

 

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

 

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

 

“Natixis”
shall mean Natixis Real Estate Capital LLC, and its successors in interest.

 

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

 

“Non-Directing
Holders” shall mean the holders of any Note other than Note A-1, and if any of such Notes have been included in a Securitization,
the holders of Certificates representing the specified interest in the class of Certificates designated as the “controlling
class” or the duly appointed representative of the holders of such Certificates or such other party otherwise entitled under
the applicable Non-Lead Servicing Agreement, to exercise the rights granted to the related Non-Directing Holder in this Agreement.
If Note A-2, Note A-3, Note A-4, Note A-5 or Note A-6 is not included in a Securitization, the Non-Directing Holder with respect
to such Note will be the then-current Holder of such Note.

 

“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 Note A-1 Holder
to make such payments free of any obligation or liability for withholding.

 

    -9- 

     

    

 

“Non-Lead
Note” shall mean (i) during the period from and after the First Non-Lead Note Securitization Date and prior to the Note
A-1 Securitization Date, each of the Notes that is not included in the First Non-Lead Note Securitization, and (ii) on and after
the Note A-1 Securitization Date, each of the Notes that is not included in the Note A-1 Securitization.

 

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

 

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

 

“Non-Lead
Servicer” shall mean from and after the Note A-1 Securitization Date, the servicer and/or special servicer, as applicable,
designated under any Non-Lead Servicing Agreement.

 

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

 

“Non-Lead
Trustee” shall mean from and after the Note A-1 Securitization Date, the trustee designated under any Non-Lead Servicing
Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Note
A-2 Holder” shall mean Natixis or any subsequent holder of Note A-2.

 

“Note
A-2 Principal Balance” shall mean at any time of determination, the initial Note A-2 Principal Balance as set forth
in the Mortgage Loan Schedule less any payments of

 

    -10- 

     

    

 

principal
thereon received by the Note A-2 Holder and any reductions in such amount pursuant to Section 4.

 

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

 

“Note
A-3 Holder” shall mean Natixis or any subsequent holder of Note A-3.

 

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

 

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

 

“Note
A-4 Holder” shall mean Natixis or any subsequent holder of Note A-4.

 

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

 

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

 

“Note
A-5 Holder” shall mean Natixis or any subsequent holder of Note A-5.

 

“Note
A-5 Principal Balance” shall mean, at any time of determination, the initial Note A-5 Principal Balance as set forth
in the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-5 Holder and any reductions in such
amount pursuant to Section 4.

 

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

 

“Note
A-6 Holder” shall mean Natixis or any subsequent holder of Note A-6.

 

“Note
A-6 Principal Balance” shall mean, at any time of determination, the initial Note A-6 Principal Balance as set forth
in the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-6 Holder and any reductions in such
amount pursuant to Section 4.

 

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

 

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

 

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

 

    -11- 

     

    

 

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

 

“Permitted
Fund Manager” shall mean any Person (a) listed on Exhibit C attached hereto or (b) that on the date of determination
is (i) a other nationally-recognized manager of investment funds investing in debt or equity interests relating to commercial
real estate, (ii) investing through one or more funds with committed capital of at least $100,000,000 and (iii) not subject to
a proceeding, whether voluntary or involuntary, relating to the bankruptcy, insolvency, reorganization or relief of debtors.

 

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

 

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

 

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

 

“Qualified
Servicer” shall mean any nationally recognized commercial mortgage loan servicer (1) rated at least “CSS3,”
in the case of a special servicer, or at least “CMS2,” in the case of a master servicer, by Fitch, (2) on the S&P
Select Servicer List as a U.S. Commercial Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable,
(3) as to which neither Moody’s nor KBRA has cited servicing concerns of such servicer as the sole or material factor in
any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings
downgrade or withdrawal) of securities in any CMBS transaction rated by Moody’s or KBRA, as applicable, and serviced by
such servicer prior to the time of determination, (4) a servicer that (i) during the 12-month period prior to the date of determination,
acted as master servicer or special servicer, as applicable, in a commercial mortgage loan securitization rated by Morningstar
and (ii) Morningstar has not qualified, downgraded or withdrawn the then-current rating or ratings of one or more classes of such
certificates citing servicing concerns with the servicer or special servicer, as applicable, as the sole or material factor in
such rating action and (5) in the case of DBRS, that within the twelve (12) month period prior to the date of determination such
servicer was acting as servicer or 

 

    -12- 

     

    

 

special servicer, as applicable, in a commercial mortgage loan securitization that was rated
by DBRS and DBRS has not downgraded or withdrawn the then current rating on any class of commercial mortgage securities or placed
any class of commercial mortgage securities on watch citing the continuation of such servicer as servicer or special servicer,
as applicable, of such commercial mortgage securities as a material reason for such downgrade or withdrawal. For purposes of this
definition, for so long as any Note is included in a Securitization, the ratings or actions of any Rating Agency that is not rating
any such Securitization(s) shall not be considered.

 

“Qualified
Transferee” shall mean each of:

 

(a)       the
initial Holders;

 

(b)       any
other Person that is an entity Controlled (as defined below) by, under Common Control with or Controlling of any of the initial
Holders;

 

(c)       UBS
AG, by and through its branch office at 1285 Avenue of the Americas; or

 

(d)       one
or more of the following:

 

(i)       a
real estate investment bank, 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 (or in the case of a CLO, a single purpose bankruptcy remote entity that contemporaneously assigns or pledges
the Note, or a participation interest therein (or any portion thereof) to a Qualified Trustee) in connection with (a) a securitization
of, (b) the creation of collateralized debt obligations (“CLO”) 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 two nationally recognized credit rating agencies; (2) the special servicer of such Securitization Vehicle has a Required Special
Servicer Rating or is otherwise acceptable to the Rating Agencies rating each Securitization (such entity, an “Approved
Servicer”) and such Approved Servicer is required to service and administer such Note or any interest therein in accordance
with servicing arrangements for the assets held by the Securitization Vehicle which require that such Approved Servicer act in
accordance with a servicing standard notwithstanding any contrary direction or instruction from any other Person; or (3) in the
case of a Securitization Vehicle that is a CLO, the CLO Asset Manager and, if applicable, each Intervening Trust

 

    -13- 

     

    

 

Vehicle that
is not administered and managed by a CLO Asset Manager that is a Qualified Transferee, are each a Qualified Transferee 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 $100,000,000, in which (A) any initial Holder, (B) a person that is otherwise a Qualified Transferee 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 clause (e) below (with respect to an entity Controlled by an entity referred to in clause (i), (ii) or (v) (with respect to
an institution substantially similar to the entities referred to in clause (i) or (ii) above)), or (C) a Permitted Fund Manager,
acts as a general partner, managing member, or the fund manager responsible for the day-to-day management and operation of such
investment vehicle, or

 

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

 

(vi)     any
Person that is otherwise a Qualified Transferee but is acting in an agency capacity in connection with a lending syndicate, so
long as more than fifty percent (50%) of the lenders in the lending syndicate (by loan balance or committed loan amounts) are
Qualified Transferees or

 

(vii)    a
private trust established and authorized under the laws of Korea (an “Acquiring Korean Trust”), so long as
the beneficiaries of, and owners of not less than 51% of the equity interest in, the Acquiring Korean Trust are, directly or indirectly,
Persons that are otherwise Qualified Transferees and satisfy the capital surplus/equity and total asset requirements set forth
below, and

 

in
the case of any entity referred to in clause (d)(i), (ii), (iv)(B) or (v) of this definition, (x) such entity or parent has at
least $100,000,000 in capital/statutory surplus or shareholders’ equity including uncalled capital commitments (except with
respect to a pension advisory firm, asset manager or similar fiduciary) and at least $250,000,000 in total assets including uncalled
capital commitments (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

 

(e)       any
entity approved by the Rating Agencies hereunder as a Qualified Transferee for purposes of this Agreement, or as to which the
Rating Agencies have stated they would not review such entity in connection with the subject transfer; or

 

For
purposes of this definition only, “Control” means the ownership, directly or indirectly, in the aggregate of
more than fifty percent (50%) of the beneficial ownership interests of an entity and the possession, directly or indirectly, of
the power to direct or cause the direction 

 

    -14- 

     

    

 

of the management or policies of an entity, whether through the ability to exercise
voting power, by contract or otherwise (“Controlled” has the meaning correlative thereto).

 

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

 

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

 

“Rating
Agency Confirmation” shall mean each of the applicable Rating Agencies for each Securitization shall have confirmed
in writing that the occurrence of the event with respect to which such Rating Agency Confirmation is sought shall not result in
a downgrade, qualification or withdrawal of the applicable rating or ratings ascribed by such Rating Agency to any of the Certificates
then outstanding. In the event that no Certificates are outstanding or none of the Notes are included in a Securitization, any
action that would otherwise require a Rating Agency Confirmation shall require the consent of the Note A-1 Holder, which consent
shall not be unreasonably withheld, conditioned or delayed.

 

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

 

    -15- 

     

    

 

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

 

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

 

“REO
Property” shall mean (i) prior to the Securitization Date, any Mortgaged Property, title to which has been acquired
by a Servicer on behalf of (or other Person designated by) the Holders through foreclosure, deed in lieu of foreclosure or otherwise
and (ii) from and after the Securitization Date, the meaning assigned to such term or an analogous term in the Servicing Agreement.

 

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

 

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

 

“Securitization
Date” shall mean, with respect to any Note, the effective date on which the Securitization of such Note or first portion
thereof is consummated.

 

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

 

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

 

“Servicing
Agreement” shall mean, (a) prior to the Securitization Date, the Interim Servicing Agreement and (b) during the period
from and after the Securitization Date, the Lead Securitization Servicing Agreement; provided that in the event the Lead Note
is no longer an asset of the trust fund created pursuant to the Servicing Agreement, the term “Servicing Agreement”
shall refer to the subsequent servicing agreement entered into pursuant to Section 2(d).

 

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

 

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

 

    -16- 

     

    

 

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

 

“Servicing
Standard” shall mean:

 

(x)       prior
to the Securitization Date, the procedures that the Master Servicer, as an independent contractor, follows in order to service
and administer the Mortgage Loan and administer REO Property solely on behalf of the Note Holders, as a collective whole as if
such Note Holders constituted one lender, as determined by the Master Servicer in the exercise of its good faith and reasonable
judgment, in accordance with applicable law, the terms of this Agreement and the Mortgage Loan Documents and, to the extent consistent
with the foregoing, the following standards: (i) the higher of (a) the same manner in which and with the same care, skill, prudence
and diligence with which the Master Servicer services and administers similar loans and administers foreclosed properties for
other third-party portfolios, giving due consideration to customary and usual standards of practice of prudent institutional commercial
mortgage lenders in servicing their own loans and administering their own foreclosed properties, or (b) with the care, skill,
prudence and diligence the Master Servicer uses for loans which it owns or for foreclosed properties it owns and administers;
(ii) with a view to the timely collection of (a) all scheduled payments of principal and interest under the Mortgage Loan or,
if the Mortgage Loan comes into and continues in default and if no satisfactory arrangements can be made for the collection of
the delinquent payments, the maximization of the recovery on the Mortgage Loan to the Note Holders, as a collective whole as if
such Note Holders constituted one lender on a net present value basis and (b) any reimbursable expenses and other amounts due
under the Mortgage Loan and (iii) without regard to:

 

(a)           any
relationship that the Master Servicer or its affiliates may have with the Borrower or any of its affiliates;

 

(b)           the
ownership of any other mezzanine loan by the Master Servicer or its affiliates;

 

(c)           its
obligation to make Advances;

 

(d)           the
right of the Master Servicer or its affiliates to receive reimbursement of costs, compensation or other fees (other than Advances),
or the sufficiency of any compensation payable to it under this Agreement or with respect to any particular transaction; or

 

(e)           the
ownership, servicing or management for others of any other loans or property by the Master Servicer; and

 

(y)       from
and after the Securitization Date, the meaning assigned to such term or an analogous term in the Servicing Agreement.

 

“Servicing
Transfer Event” shall have (i) prior to the Securitization Date, the meaning assigned to such term in the Model PSA
or such other analogous term used in the Model PSA and (ii) from and after the Securitization Date, the meaning assigned to such
term in Servicing Agreement or such other analogous term used in the Servicing Agreement, whereby the servicing of the Mortgage
Loan is required to be transferred to the Special Servicer from the Master Servicer.

 

    -17- 

     

    

 

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

 

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

 

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

 

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

 

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

 

2.         Servicing
of the Mortgage Loan.   (a) Each Holder acknowledges and agrees that, subject in each case to the specific terms of this Agreement,
the Mortgage Loan shall be serviced prior to the first Securitization Date pursuant to the Interim Servicing Agreement and from
and after the first Securitization Date pursuant to the Lead Securitization Servicing Agreement; provided that prior to the first
Securitization Date, all servicing and other decisions with respect to matters set forth on Exhibit D hereto shall also
require the consent of the holders of Note A-3, Note A-5 and Note A-6.

 

Each
Holder agrees to reasonably cooperate with each Servicer with respect to its exercise of its rights and obligations under the
Servicing Agreement.

 

(b)       The
Lead Securitization Servicing Agreement shall contain terms and conditions that are customary for securitization transactions
involving assets similar to the Mortgage Loan and that are otherwise (i) required by the Code relating to the tax elections of
the trust fund established under the Lead Securitization, (ii) required by law or changes in any law, rule or regulation or (iii)
requested by the Rating Agencies rating the Lead Securitization. In addition, the Lead Securitization Servicing Agreement and
each Non-Lead Servicing Agreement shall have such additional provisions as are set forth in Section 21. The Lead Note Holder
shall have the right to designate the Master Servicer for the Lead Securitization as long as each such party is a Qualified Servicer.

 

(c)       Subject
to the terms and conditions of this Agreement, each Holder hereby irrevocably and unconditionally consents to the appointment
of the Master Servicer and the Trustee under the Servicing Agreement by the related depositor and the appointment of the Special
Servicer by the Directing Holder and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect
to the servicing of the Mortgage Loan in accordance with the Servicing Agreement. Each Holder hereby appoints the Master Servicer,
the Special Servicer and the Trustee under the Servicing Agreement as such Holder’s attorney-in-

 

    -18- 

     

    

 

fact to sign any documents
reasonably required with respect to the administration and servicing of the Mortgage Loan on its behalf under the Servicing Agreement
(subject at all times to the rights of the Holders as set forth herein and in such Servicing Agreement).

 

(d)       If,
at any time the Lead Note is no longer in a Securitization, the Note A-1 Holder shall cause the Mortgage Loan to be serviced pursuant
to a servicing agreement that is substantially similar to the Servicing Agreement (and, if any Non-Lead Note is in a Securitization,
subject to receipt of a Rating Agency Confirmation from the Rating Agencies that were engaged by the applicable depositor to rate
such Securitization) and all references herein to the “Servicing Agreement” shall mean such subsequent Servicing
Agreement; provided, however, that until a replacement Servicing Agreement has been entered into (and such written
confirmation has been obtained), the Note A-1 Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions of
the Servicing Agreement as if such agreement was still in full force and effect with respect to the Mortgage Loan; provided,
further, however, that until a replacement Servicing Agreement is in place, the actual servicing of the Mortgage
Loan may be performed by any Qualified Servicer appointed by the Note A-1 Holder and does not have to be performed by the service
providers set forth under the Servicing Agreement that was previously in effect.

 

(e)       Notwithstanding
anything to the contrary contained herein (including Sections 4 and 16(a)), each Servicing Agreement shall provide
that the Servicer shall be required to service and administer the Mortgage Loan in accordance with the Servicing Standard as set
forth in such Servicing Agreement, and any Holder who is not the Borrower or an Affiliate of the Borrower shall be deemed a third-party
beneficiary of such provisions of the Servicing Agreement that run to the benefit of such Holder. It is understood that any Non-Lead
Note Holder may separately appoint a servicer for its Non-Lead Note, by itself or together with other assets, but any such servicer
will have no responsibility hereunder and shall be compensated solely by the applicable Non-Lead Note Holder from funds payable
to it hereunder or otherwise.

 

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

 

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

 

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regulations of the United States Department of the Treasury, more than
three (3) months after the startup day of the REMIC that includes any Note (or any portion thereof). Each Holder agrees that the
provisions of this paragraph shall be effected by compliance with any REMIC provisions in the Servicing Agreement relating to
the administration of the Mortgage Loan.

 

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

 

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

 

The
Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i)
pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances, (ii) to pay the parties
to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to
the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except
that, for so long as any Note is not included in a Securitization, any Penalty Charges allocated to such Note that are not applied
pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or
the Special Servicer without the express consent of such Holder.

 

4.      
  Workout.   Notwithstanding anything to the contrary contained herein, but subject to the
terms and conditions of the Servicing Agreement and Section 16 of this Agreement, and the obligation to act in
accordance with the Servicing Standard, if the Lead Note Holder, or any Servicer, in connection with a workout or proposed
workout of the Mortgage Loan, modifies the terms thereof such that (i) the Mortgage Loan Principal Balance is decreased, (ii)
the Mortgage Interest Rate is reduced, (iii) payments of interest or principal on Note A-1, Note A-2, Note A-3, Note A-4,
Note A-5 or Note A-6 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 Note A-1, Note A-2, Note A-3, Note A-4, Note A-5 or Note A-6 as described in Section
3.

 

5.         Accounts;
Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the
Collection Account or Collection 

 

    -20- 

     

    

 

Accounts, as applicable. Each Holder hereby directs the Master Servicer, in accordance with
the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into
the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with
respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable
Master Servicer Remittance Date all payments received with respect to and allocable to each Note by wire transfer to accounts
maintained by the applicable Holder; provided that delinquent payments received by the Master Servicer after the related
Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in
the Servicing Agreement.

 

If
any Servicer holding or having distributed any amount received or collected in respect of any Note determines, or a court of competent
jurisdiction orders, at any time that any amount received or collected in respect of such Note must, pursuant to any insolvency,
bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the another Holder or any
Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required
to distribute any portion thereof to such Holder and the subject Holder shall promptly on demand repay to such Servicer the portion
thereof that has been distributed to such Holder, together with interest thereon at such rate, if any, as such Servicer shall
have been required to pay to the Borrower, any other Holder, any Servicer or such other person or entity with respect thereto.
Each Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan
in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall
have the right to offset any amounts due hereunder from any Holder with respect to the Mortgage Loan against any future payments
due to such Holder under the Mortgage Loan, provided, that the obligations of each Holder under this Section 5 are
separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against
any other Holder. The obligations of each Holder under this Section 5 constitute absolute, unconditional and continuing
obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.

 

6.         Limitation
on Liability. Subject to the terms of the Servicing Agreement, no Holder (including the Master Servicer or the Special
Servicer on its behalf) shall have any liability to any other Holder with respect to any Note, except (1) with respect to the
Advance reimbursement provisions set forth in Section 20 and (2) with respect to losses actually suffered due to the
gross negligence, willful misconduct or material breach of this Agreement on the part of such Holder (including the Master
Servicer or the Special Servicer on its behalf, except that the Master Servicer’s or Special Servicer’s liability
may be further limited or expanded as set forth in the Servicing Agreement).

 

7.         Representations
of the Holders. (a) Each of the initial Holders hereby represents and warrants to, and covenants with each other Holder
that, as of the date hereof:

 

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

 

    -21- 

     

    

 

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

 

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

 

(iv)      This
Agreement is the legal, valid and binding obligation of such Holder enforceable against such Holder in accordance with its terms,
except as such enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting
the enforcement of creditors’ rights generally, and by general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law), and except that the enforcement of rights with respect to indemnification
and contribution obligations may be limited by applicable law.

 

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

 

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

 

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

 

(viii)    It
is a Qualified Transferee.

 

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

 

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9.        No
Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant
hereto, shall be deemed to constitute among any Holder (or the Master Servicer, Special Servicer or Trustee on its behalf)
and any other Holders a partnership, association, joint venture or other entity. Each Holder (or the Master Servicer, Special
Servicer or Trustee on its behalf) shall have no obligation whatsoever to offer to the other Holders the opportunity to
purchase notes or interests relating to any future loans originated by such Holder or any of its Affiliates, and if any
Holder chooses to offer to any of the other Holders, the opportunity to purchase notes or interests in any future mortgage
loans originated by such Holder or its Affiliates, such offer shall be at such purchase price and interest rate as such
Holder chooses, in its sole and absolute discretion. None of the Holders shall have any obligation whatsoever to purchase
from any other Holder any notes or interests in any future loans originated by any other Holder or any of its
Affiliates.

 

10.       Not
a Security. None of Note A-1, Note A-2, Note A-3, Note A-4, Note A-5 or Note A-6 shall be deemed to be a security within
the meaning of the Securities Act of 1933 or the Securities Exchange Act of 1934.

 

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

 

12.       Transfer
of Notes. (a) Each Holder may Transfer up to 49% (in the aggregate) of its beneficial interest in its Note whether or not
the related transferee is a Qualified Transferee without a Rating Agency Confirmation. No Holder shall Transfer more than 49%
(in the aggregate) of its beneficial interest in its Note unless (i) prior to a Securitization of any Note, each non-transferring
Holder has consented to such Transfer, in which case the related transferee shall thereafter be deemed to be a “Qualified
Transferee” for all purposes under this Agreement, (ii) after a Securitization of any Note, a Rating Agency Confirmation
has been received with respect to such Transfer, in which case the related transferee shall thereafter be deemed to be a “Qualified
Transferee” for all purposes under this Agreement, (iii) such Transfer is to a Qualified Transferee, or (iv) such Transfer
is in connection with a sale by a Securitization trust. Any such transferee must assume in writing the obligations of the transferring
Holder hereunder and agree to be bound by the terms and provisions of this Agreement and the Servicing Agreement. Such proposed
transferee (except in the case of Transfers that are made in connection with a Securitization) shall also remake each of the representations
and warranties contained herein for the benefit of each of the other Holders. Notwithstanding the foregoing, without the prior
consent of each non-transferring Holder (which will not be unreasonably withheld), and, if such non-transferring Holder’s
Note is in a Securitization, without a Rating Agency Confirmation from each Rating Agency that has been engaged by the related
depositor to rate the securities issued in connection with such Securitization, no Holder shall Transfer all or any portion of
its Note to the Borrower or an Affiliate of the Borrower and any such Transfer shall be absolutely null and void and shall vest
no rights in the purported transferee.

 

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(b)       Except
for a Transfer made in connection with a Securitization, or a Transfer made by an initial Holder to an Affiliate or to UBS AG,
by and through its branch office at 1285 Avenue of the Americas, at least five (5) days prior to a transfer of any Note, the transferring
Holder shall provide to the other Holders and, if any Certificates are outstanding, to the Rating Agencies, a certification that
such transfer will be made in accordance with this Section 12, such certification to include (1) the name and contact information
of the transferee and (2) if applicable, a certification by the transferee that it is a Qualified Transferee.

 

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

 

(d)       Notwithstanding
anything to the contrary contained herein, each Holder may pledge or transfer (a “Pledge”) its Note to any
entity (other than the Borrower or any Affiliate thereof) that has extended a credit or repurchase facility to such Holder and
that, in each case, is either a Qualified Transferee or a financial institution whose long-term unsecured debt is rated at least
“A” (or the equivalent) or better by each Rating Agency (a “Note Pledgee”), or to a Person with
respect to which a Rating Agency Confirmation has been obtained, on terms and conditions set forth in this Section 12(d),
it being further agreed that a financing provided by a Note Pledgee to any Holder or any Affiliate that Controls such Holder that
is secured by such Holder’s interest in its respective Note and is structured as a repurchase arrangement, shall qualify
as a “Pledge” hereunder, provided that, a Note Pledgee that is not a Qualified Transferee may not take title
to the pledged Note without a Rating Agency Confirmation. Upon written notice, if any, by the pledging Holder to the other Holders
and the Servicer that a Pledge has been effected (including the name and address of the applicable Note Pledgee), the other Holders
agree to acknowledge receipt of such notice and thereafter agree: (i) to give such Note Pledgee written notice of any default
by the pledging Holder in respect of its obligations under this Agreement of which default such Holder has actual knowledge and
which notice shall be given simultaneously with the giving of such notice to the pledging Holder; (ii) to allow such Note Pledgee
a period of ten (10) Business Days to cure a default by the pledging Holder in respect of its obligations to the other Holders
hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that no amendment, modification, waiver
or termination of this Agreement or the Servicing Agreement (if the pledging Holder had the right to consent to such amendment,
modification, waiver or termination pursuant to the terms hereof) shall be effective against such Note Pledgee without the written
consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed and which consent shall
be deemed to be given if Note Pledgee shall fail to respond to any request for consent to any such amendment, modification, waiver
or termination within 10 Business Days after request therefor; (iv) that the other Holders shall accept any cure by such Note
Pledgee of any default of the pledging Holder which such pledging Holder has the right to effect hereunder, as if such cure were
made by such pledging Holder; (v) that the other Holders or Servicer shall deliver to Note Pledgee such estoppel certificate(s)
as Note Pledgee shall reasonably request, provided that any such certificate(s) shall be in a form reasonably satisfactory
to the other Holders; and (vi) that, upon written notice (a “Redirection Notice”) to the Servicer by such Note
Pledgee that the pledging Holder is in default beyond any applicable cure periods with respect to the pledging Holder’s
obligations to such Note Pledgee pursuant to the applicable credit agreement or other agreements 

 

    -24- 

     

    

 

relating to the Pledge between
the pledging Holder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Holder), and until
such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee (or at any time that pledging Holder otherwise
directs that such payment be made to Note Pledgee pursuant to a separate notice) shall be entitled to receive any payments that
any Servicer would otherwise be obligated to pay to the pledging Holder from time to time pursuant to this Agreement or any Servicing
Agreement. Any pledging Holder hereby unconditionally and absolutely releases the other Holders and any Servicer from any liability
to the pledging Holder on account of any Holder’s or Servicer’s compliance with any Redirection Notice believed by
any Servicer or other Holder in good faith to have been delivered by a Note Pledgee. Note Pledgee shall be permitted to exercise
fully its rights and remedies against the pledging Holder (and accept an assignment in lieu of foreclosure as to such collateral),
in accordance with applicable law, the pledge agreement, repurchase agreement or similar agreement between the pledging Holder
and the Note Pledgee and this Agreement. In such event, or if the pledging Holder otherwise assigns its interests to the Note
Pledgee, the other Holders and the Servicer shall recognize such Note Pledgee (and any transferee other than the Borrower or any
Affiliate thereof that is also a Qualified Transferee at any foreclosure or similar sale held by such Note Pledgee or any transfer
in lieu of foreclosure), and its successor and assigns, as the successor to the pledging Holder’s rights, remedies and obligations
under this Agreement, and any such Note Pledgee or Qualified Transferee shall assume in writing the obligations of the pledging
Holder hereunder accruing from and after such Transfer (i.e., realization upon the collateral by such Note Pledgee) and
agrees to be bound by the terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 12(d) shall
remain effective as to any Holder (and any Servicer) unless and until such Note Pledgee shall have notified such Holder (and any
Servicer, as applicable) in writing that its interest in the pledged Note has terminated.

 

13.       Registration
of Transfer. In connection with any Transfer of a Note (but excluding any Note Pledgee unless and until it realizes on
its Pledge), except for transfer of a participation interest, a transferee shall execute an assignment and assumption
agreement whereby such transferee assumes all of the obligations of the applicable Holder hereunder with respect to such Note
thereafter accruing and agrees to be bound by the terms of this Agreement, including the restriction on Transfers set forth
in Section 12, from and after the date of such assignment. Notwithstanding the preceding sentence, a Trustee shall not
be required to execute an assignment and assumption agreement in connection with any Transfer of a Note if the obligations
are assumed pursuant to the Servicing Agreement. 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
12 and this Section 13. Any such purported transfer shall be absolutely null and void and shall vest no rights in
the purported transferee. Each Holder desiring to effect such transfer shall, and does hereby agree to, indemnify the Agent
and any other Holder against any liability that may result if the transfer is not made in accordance with the provisions of
this Agreement. Upon a Securitization of Note A-1, the certificate administrator shall automatically become and be the
Agent.

 

14.       Registration
of the Notes. The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”)
for the registration and transfer of the Notes. The Agent shall serve as the initial Note registrar and the Agent hereby
accepts such appointment.

 

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The
names and addresses of the holders of the Notes, the principal amount (and stated interest) of the Notes owing to each
Holder and the names and addresses of any transferee of any Note of which the Agent has received notice, in the form of a
copy of the assignment and assumption agreement referred to in Section 13, shall be registered in the Note Register.
The Person in whose name a Note is so registered shall be deemed and treated as the sole owner and holder thereof for all
purposes of this Agreement, except in the case of the Initial Note A-1 Holder and the Initial Note A-2 Holder who may hold
their Notes through a nominee. Upon request of a Holder, the Agent shall provide such party with the names and addresses of
the other Holders. To the extent another party is appointed as Agent hereunder, each Note Holder hereby designates such
person as its agent under this Section 14 solely for purposes of maintaining the Note Register. Statement of
Intent. The Agent and each Holder intend that the Notes be classified and the arrangement hereby be maintained, in a
manner consistent with rules applicable to a grantor trust under subtitle A, chapter 1, subchapter J, part I, subpart E 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.

 

16.       Exercise
of Remedies by the Servicer.  (a) Subject to the terms of this Agreement and the Servicing Agreement and subject to the
rights and consents, where required, of the Directing Holder, the Servicer shall have the sole and exclusive authority with
respect to the administration of, and exercise of rights and remedies with respect to, the Mortgage Loan, including, without
limitation, the sole and exclusive authority to (i) modify or waive any of the terms of the Mortgage Loan Documents, (ii)
consent to any action or failure to act by the Borrower or any party to the Mortgage Loan Documents, (iii) vote all claims
with respect to the Mortgage Loan in any bankruptcy, insolvency or other similar proceedings and (iv) to take legal action to
enforce or protect the Holders’ interests with respect to the Mortgage Loan or to refrain from exercising any powers or
rights under the Mortgage Loan Documents, including the right at any time to call or waive any Events of Default, or
accelerate or refrain from accelerating the Mortgage Loan or institute any foreclosure action, and the Holders shall have no
voting, consent or other rights whatsoever with respect to the Servicer’s administration of, or exercise of its rights
and remedies with respect to, the Mortgage Loan other than as provided in the Servicing Agreement. Subject to the terms and
conditions of the Servicing Agreement, the Servicer shall have the sole and exclusive authority to make Property Advances
with respect to the Mortgage Loan. Except as otherwise provided in this Agreement, each Holder agrees that it shall have no
right to, and hereby presently and irrevocably assigns and conveys to the Servicer the rights, if any, that such Holder has
to (A) call or cause the Servicer to call an Event of Default under the Mortgage Loan, or (B) exercise any remedies with
respect to the Mortgage Loan or the Borrower, including, without limitation, filing or causing the Lead Note Holder or such
Servicer to file any bankruptcy petition against the Borrower. Each Holder shall, from time to time, execute such documents
as any Servicer shall reasonably require to evidence such assignment with respect to the rights described in clause (iii) of
the first sentence in this Section 16(a).

 

(b)       The
Lead Servicer and the related Trustee shall not have any fiduciary duty to the Non-Lead Note Holders in connection with the administration
of the Mortgage Loan (but the foregoing shall not relieve the Lead Servicer and the related Trustee from their

 

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respective obligation
under the Servicing Agreement to make any disbursement of funds as set forth herein).

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    -27- 

     

    

 

endorsed in blank, to or at the direction
of the Lead Note Holder in connection with the consummation of any such sale.

 

The
authority of the Lead Note Holder to sell the Non-Lead Notes, and the obligations of the Non-Lead Note Holders to execute and
deliver instruments or deliver the Non-Lead Notes upon request of the Lead Note Holder, shall terminate and cease to be of any
further force or effect upon the date, if any, upon which the Lead Note is repurchased by Natixis, as the initial Note A-1 Holder
from the trust fund established under the Servicing Agreement in connection with a material breach of representation or warranty
made by the initial Note A-1 Holder with respect to the Lead Note or material document defect with respect to the documents delivered
by Natixis, as the initial Note A-1 Holder with respect to the Lead Note upon the consummation of the Lead Securitization.

 

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

 

17.       Rights
of the Directing Holder.   (a) The Directing Holder shall be entitled to
exercise the rights and powers granted to the Directing Holder hereunder and the rights and powers granted to the
“Directing Holder,” “Controlling Class Certificateholder,” “Controlling Class
Representative” or similar party under, and as defined in, the Servicing Agreement with respect to the Mortgage Loan.
In addition, the Directing Holder shall be entitled to advise (1) the Special Servicer with respect to all matters related to
a Specially Serviced Mortgage Loan and (2) the Special Servicer with respect to all matters for which the Master Servicer
must obtain the consent or deemed consent of the Special Servicer, and, except as set forth below (i) the Master Servicer
shall not be permitted to take any Major Action unless it has obtained the prior written consent of the Special Servicer and
(ii) the Special Servicer shall not be permitted to consent to the Master Servicer’s taking any Major Action nor will
the Special Servicer itself be permitted to take any Major Action as to which the Directing Holder has objected in writing
within ten (10) Business Days (or 30 days with respect to an Acceptable Insurance Default) after receipt of the written
recommendation and analysis and such additional information requested by the Directing Holder as may be necessary in the
reasonable judgment of the Directing Holder in order to make a judgment with respect to such Major Action. The Directing
Holder may also direct the Special Servicer to take, or to refrain from taking, such other actions with respect to the
Mortgage Loan as the Directing Holder may deem advisable, subject to the terms of the Servicing Agreement.

 

(b)       If
the Directing Holder fails to notify the Special Servicer of its approval or disapproval of any proposed Major Action within ten
(10) Business Days (or 30 days with respect to an Acceptable Insurance Default) after delivery to the Directing Holder by the
applicable Servicer of written notice of a proposed Major Action together with any information requested by the Directing Holder
as may be necessary in the reasonable judgment of the

 

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Directing Holder in order to make a judgment, then upon the expiration of
such ten (10) Business Day (or 30 days with respect to an Acceptable Insurance Default) period, such Major Action shall be deemed
to have been approved by the Directing Holder.

 

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

 

(d)       No
objection, direction or advice contemplated by the preceding paragraphs may require or cause the Master Servicer or the Special
Servicer, as applicable, to violate any provision of the Mortgage Loan Documents, applicable law, the Servicing Agreement, this
Agreement, the REMIC provisions of the Code or the Master Servicer or Special Servicer’s obligation to act in accordance
with the Servicing Standard or expose the Master Servicer or the Special Servicer to liability, or materially expand the scope
of the Master Servicer’s or the Special Servicer’s responsibilities under the Servicing Agreement.

 

(e)       The
Directing Holder shall have no liability to the other Holders or any other Person for any action taken, or for refraining from
the taking of any action or the giving of any consent or the failure to give any consent pursuant to this Agreement or the Servicing
Agreement, or errors in judgment, absent any loss, liability or expense incurred by reason of its willful misfeasance, bad faith
or gross negligence. The Holders agree that the Directing Holder may take or refrain from taking actions, or give or refrain from
giving consents, that favor the interests of one Holder over the other Holder, and that the Directing Holder may have special
relationships and interests that conflict with the interests of another Holder and, absent willful misfeasance, bad faith or gross
negligence on the part of the Directing Holder agree to take no action against the Directing Holder or any of its officers, directors,
employees, principals or agents as a result of such special relationships or interests, and that the Directing Holder will not
be deemed to have been grossly negligent or reckless, or to have acted in bad faith or engaged in willful misfeasance or to have
recklessly disregarded any exercise of its rights by reason of its having acted or refrained from acting, or having given any
consent or having failed to give any consent, solely in the interests of any Holder.

 

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

 

18.       Appointment
of Special Servicer.  Subject to the terms of the Servicing Agreement, the Directing Holder shall have the right at any
time and from time to time, with or without cause, to replace the Special Servicer then acting with respect to the Mortgage
Loan and appoint a Qualified Servicer as the replacement Special Servicer in lieu thereof. The Directing Holder shall
designate a Person to serve as Special Servicer by delivering to the other Holders and the parties to the Lead Securitization
Servicing Agreement and each Non-Lead Servicing Agreement a written notice stating such designation and by satisfying the
other conditions 

 

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required under the Servicing Agreement (including, without limitation, a Rating Agency Confirmation, if
required by the terms of the Servicing Agreement), if any.

 

The
Directing Holder agrees and acknowledges that prior to the Note A-1 Securitization, the Special Servicer could be terminated under
the Servicing Agreement in connection with a “servicer termination event” thereunder, or otherwise based on a recommendation
by the operating advisor under the Servicing Agreement if (1) the operating advisor determines, in its sole discretion exercised
in good faith, that (a) the Special Servicer has failed to comply with the Servicing Standard and (b) a replacement of the Special
Servicer would be in the best interest of the holders of Certificates issued under the Servicing Agreement (as a collective whole)
and (2) the affirmative vote of the requisite certificate holders is obtained. The Directing Holder will retain its right to remove
and replace the Special Servicer, but the Directing Holder may not restore a Special Servicer that has been removed in accordance
with the preceding sentence.

 

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

 

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

 

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

 

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

 

(c)       In
addition to the foregoing non-binding consultation rights, the Non-Directing Holders shall have the right to annual conference
calls with the Master Servicer or the Special Servicer, upon reasonable notice and at times reasonably acceptable to the Master
Servicer or the Special Servicer, as applicable, in which servicing issues related to the Mortgage Loan are discussed.

 

(d)       In
no event shall the Servicer be obligated at any time to follow or take any alternative actions recommended by any of the Non-Directing
Holders.

 

(e)       Any
Non-Directing Holder that is the Borrower or an Affiliate of the Borrower shall not be entitled to any of the rights set forth
in this Section 19.

 

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

 

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

 

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

 

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Lead Servicer or the related Trustee for such Non-Lead Note Holder’s pro
rata share of any fees, costs or expenses incurred in connection with the servicing and administration of the Mortgage Loan
as to which the Lead Securitization or any of the parties thereto are entitled to be reimbursed pursuant to the terms of the Servicing
Agreement (to the extent amounts on deposit in the Collection Account with respect to the Mortgage Loan are insufficient for reimbursement
of such amounts).

 

(d)       The
parties to each of the Lead Securitization Servicing Agreement and and each Non-Lead Servicing Agreement shall each be entitled
to make their own recoverability determination with respect to a P&I Advance based on the information that they have on hand
and in accordance with the Lead Securitization Servicing Agreement and each other Non-Lead Servicing Agreement, as applicable.

 

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

 

21.       Provisions
Relating to Securitization. For so long as Natixis or an Affiliate of
Natixis (an “Initial Note Holder”) is the owner of any Notes, such Initial Note Holder shall have the
right, subject to the terms of the Mortgage Loan Documents, to cause the Borrower to execute amended and restated notes
(“Amended Notes”) or additional notes (the “New Notes”) reallocating the principal of
the Note or Notes that it owns (but in no case any Note that it does not own) among Amended Notes and New Notes or severing a
Note into one or more further “component” notes in the aggregate principal amount equal to the then outstanding
principal balance of the Note or Notes being amended or created, provided that (i) the aggregate principal balance of
the Amended Notes and New Notes following such amendments is no greater than the principal balance of the Amended Notes and
New Notes prior to such amendments, (ii) all New Notes continue to have the same interest rate as the Amended Note of which
is was a part prior to such amendments, (iii) all New Notes pay pro rata and on a pari passu basis with the
Amended Notes and such reallocated or component notes shall be automatically subject to the terms of this Agreement and (iv)
the Initial Note Holder holding the New Notes shall notify each other Holder, as applicable, and, if any other Note has been
included in a securitization, the parties under each applicable pooling and servicing agreement, in writing of such modified
allocations and principal amounts. In connection with the foregoing, (1) the Master Servicer is hereby authorized to execute
amendments to the Loan Agreement and this Agreement (or to amend and restate the Loan Agreement and this Agreement) on behalf
of any or all of the Holders solely for the purpose of reflecting such reallocation of principal or such severing of a Note,
(2) if a Note is severed into “component” notes, such component notes shall each have their same rights as the
respective original Note, (3) the definition of the term “Securitization” and all of the related defined terms
may be amended (and new terms added, as necessary) to reflect the New Notes and (4) if Natixis is the current Directing
Holder, it may designate the holder of a different Note to be the Directing Holder. Rating Agency Confirmation shall not be
required for any amendments to this Agreement required to facilitate the terms of this Section 21(a). The Initial Note
Holder whose Note is being reallocated or split pursuant to this Section 21(a) shall reimburse the other Holders
for all costs and expenses incurred by the other Holders

 

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in
connection with the reallocation or split. If a New Note is created out of the Lead Note the Initial Note A-1 Holder shall designate
which Note will be the Lead Securitization Note hereunder.

 

(b)      
Each Non-Lead Note Holder agrees that (if the Non-Lead Note is included in a Securitization other than the Lead Securitization)
it shall cause its related Non-Lead Servicing Agreement to provide as follows:

 

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

 

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

 

(iii)     in
the event such Non-Lead Note Holder is responsible for its proportionate share of any Nonrecoverable Advances (or any other portion
of a Nonrecoverable Advance) (and advance interest thereon) or other fee or expense pursuant to Section 20, and funds received
with respect to such Non-Lead Note are insufficient to cover such amounts, (x) the related master servicer will be required to
pay the Master Servicer, Special Servicer or Lead Trustee under the Servicing Agreement, as applicable, out of general funds in
the collection account (or equivalent account) established under the Non-Lead Servicing Agreement and (y) if the Lead Servicing
Agreement permits the Master Servicer, Special Servicer or Lead Trustee to pay itself from the Lead Securitization Trust’s
general account then the master servicer under the related Non-Lead Servicing Agreement will be required to reimburse the Lead
Securitization Trust out of general funds in the collection account (or equivalent account) established under the Non-Lead Servicing
Agreement;

 

(iv)     each
of the Master Servicer and the Special Servicer shall be indemnified (as and to the extent the Lead Securitization Trust is required
to indemnify each such party) against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments
and any other costs, liabilities, fees and expenses, incurred in connection with any PSA that relate solely to its servicing of
the Mortgage Loan, as applicable, and the master servicer under the Non-Lead Servicing Agreement will be required to reimburse
the Master Servicer, Special Servicer or Lead Trustee under the Servicing Agreement, as applicable, out of general funds in the
collection account (or equivalent account) established under the Non-Lead Servicing Agreement;

 

(v)      each
Non-Lead Trustee and Non-Lead Servicer, as applicable, shall acknowledge that, (i) each of the Master Servicer and the Lead Trustee
under the Servicing Agreement will be a third party beneficiary under such Non-Lead Servicing Agreement with respect to any provisions
therein relating to (1) the reimbursement of any 

 

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nonrecoverable advances made with respect to such Non-Lead Note by the Master
Servicer or the Lead Trustee under the Servicing Agreement and (2) as to the Master Servicer only, the indemnification of the
Master Servicer against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other
costs, liabilities, fees and expenses, incurred in connection with any PSA and relating to such Non-Lead Note and (ii) the Special
Servicer will be a third party beneficiary under the Non-Lead Servicing Agreement with respect to any provisions therein relating
to (1) the reimbursement of any nonrecoverable advances made with respect to such Non-Lead Note by the Special Servicer (it being
understood that the Special Servicer is not required to make any Advances) and (2) the indemnification of the Special Servicer
against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities,
fees and expenses, incurred in connection with any PSA and relating to the Non-Lead Note; and

 

(vi)     the
Master Servicer and the Special Servicer shall be third party beneficiaries of the foregoing provisions.

 

(c)      Each
Non-Lead Note Holder shall provide the depositor, the Servicer and the Special Servicer under the Lead Securitization Servicing
Agreement (if such party is not also a party to the Lead Securitization Servicing Agreement) notice of the related Non-Lead Note
Securitization in writing (which may be by email) prior to or promptly following such Non-Lead Note Securitization. Such notice
shall contain contact information for each of the parties to the related Non-Lead Servicing Agreement. In addition, after the
related Securitization Date, the Holder of the related Non-Lead Note shall send a copy of the related Non-Lead Servicing Agreement
to the depositor, the Servicer and the Special Servicer under the Lead Securitization Servicing Agreement if such party is not
also a party to the Lead Securitization Servicing Agreement.

 

(d)      The
Lead Securitization Servicing Agreement shall provide that:

 

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

 

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

 

(iii)     the
Master Servicer shall remit all payments received (or advanced) with respect to any Non-Lead Note, net of its Servicing Fee and
any other applicable fees and reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to each Non-Lead
Note Holder on the applicable Master Servicer Remittance Date;

 

(iv)     the
Master Servicer agrees to make available to each master servicer under each Non-Lead Servicing Agreement the CREFC® Investor
Reporting Package® 

 

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pursuant to the terms of the Servicing Agreement on a monthly basis on the applicable Master Servicer Remittance
Date;

 

(v)      the
Master Servicer, any primary servicer, the Special Servicer and the Lead Trustee, certificate administrator or other party acting
as custodian for the Lead Securitization shall be required to deliver (and shall be required to cause each other servicer and
servicing function participant (within the meaning of Items 1123 and 1122, respectively, of Regulation AB) retained or engaged
by it to deliver), to the parties to the Non-Lead Servicing Agreement, at its own expense, in a timely manner, the reports, certifications,
compliance statements, accountants’ assessments and attestations, information to be included in reports (including, without
limitation, Form 15G, Form 10K, Form 10D, Form 8K), and other materials specified in each of the other Servicing Agreements as
the parties to each Non-Lead Securitization may require in order to comply with their obligations under the Securities Act of
1933, as amended, Securities Exchange Act of 1934 (including Rule 15Ga-1), as amended, and Regulation AB, and any other applicable
law. Without limiting the generality of the foregoing, the Lead Note Holder for a Lead Securitization shall provide in a timely
manner to the depositor and the trustee for any prior Securitization a copy of the Servicing Agreement and each Lead Servicer
(at the expense of the Lead Note Holder) will be required, upon prior written request, to provide to the depositor and the trustee
for any prior Securitization any other information required to comply in a timely manner with applicable filing requirements under
Items 1.01 and 6.02 of Form 8-K, any other disclosure information required pursuant to Regulation AB in a timely manner for inclusion
in any disclosure document (and, with respect to the Servicing Agreement, for filing under Form 8-K), and with respect to the
Lead Servicers, upon prior written request, market indemnification agreements, opinions and Regulation AB compliance letters as
were or are being delivered with respect to the Lead Securitization. As used in this Agreement, “Regulation AB” means
Subpart 229.1100 – Asset Backed Securities (Regulation AB), 17 C.F.R. §§ 229.1100-229.1125, as such may be amended
from time to time, and subject to such clarification and interpretation as have been provided by the United States Securities
and Exchange Commission (the “Commission”) or by the staff of the Commission, or as may be provided by the Commission
or its staff from time to time, in each case as effective from time to time as of the compliance dates specified therein. The
Master Servicer, any primary servicer and the Special Servicer, upon prior written request, shall each be required to provide
certification and indemnification to each Certifying Person with respect to the Sarbanes-Oxley Certification (or analogous terms)
as such terms are defined in the related Non-Lead Servicing Agreements;

 

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

 

(vii)    with
respect to any Non-Lead Note, the Master Servicer shall withdraw from the related Collection Account and remit to the applicable
Non-Lead Note Holder, within two (2) Business Days of receipt of properly identified funds, any amounts that represent late collections
or principal prepayments on the Non-Lead Note or any 

 

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

 

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

 

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

 

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

 

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

 

(xii)     in
connection with (A) any amendment of the Servicing Agreement, a party to such Servicing Agreement is required to provide a copy
of the executed amendment to the depositor under each Non-Lead Servicing Agreement and one or more parties to the related Non-Lead
Servicing Agreement (which may be by e-mail), together with a copy of such amendment in electronic format, no later than the effective
date of such amendment, and (B) the termination, resignation and/or replacement of the Master Servicer or Special Servicer under
the Servicing Agreement, the replacement “master servicer” or replacement “special servicer”, as applicable,
is required to provide to the depositor under each Non-Lead Servicing Agreement and one or more parties to the related Non-Lead
Servicing Agreement all disclosure about itself that is required to be included in Form 8-K no later than the date of effectiveness
thereof;

 

(xiii)    “servicer
termination events” (or any analogous term under the Servicing Agreement) include customary market termination events with
respect to failure to make advances, failure to remit payments to the Non-Lead Note Holders as required, failure to deliver (or
cause to be delivered) materials or information required in order for the Non-Lead Note Holders or the depositor under the Non-Lead
Servicing Agreement to timely comply with its obligations under the Exchange Act, the Securities Act or Form SF-3, and for rating
agency triggers with respect to any Certificates, subject to customary grace 

 

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periods (provided that, in the case of failures related
to the securities laws, such grace periods will not cause a depositor under a Non-Lead Servicing Agreement to fail to comply with
the applicable provisions of such securities laws);

 

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

 

(xv)     have
provisions materially consistent with those set forth in the First Non-Lead Note PSA with respect to:

 

(A)   servicing transfer events that would result in the transfer of the Mortgage Loan to special servicing status;

 

(B)    the authority of the servicers in the First Non-Lead Note Securitization to grant or agree or consent to material modifications,
waivers and amendments to the Mortgage Loan, or to approve material assignments and assumptions or material additional indebtedness
in connection with the Mortgage Loan;

 

(C)    requirements to obtain an appraisal or appraisal update following a transfer of the Mortgage Loan to special servicing status
and periodic updates thereof;

 

(D)    duties of the special servicer in respect of foreclosure and the management of REO property; and

 

(E)    subject to various adjustments and caps provided for in the Lead Securitization Servicing Agreement (which shall be substantially
similar to those set forth in the First Non-Lead Note PSA), primary servicing, special servicing, workout and liquidation fees
(and, in any event, the fees at which such compensation accrue or are determined shall not exceed 0.0025% per annum, 0.25%
per annum, 1.00% and 1.00%, respectively),

 

provided,
however, that (1) this clause (xv) 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 certificate
holder or investor voting or consent thresholds, or to prohibit or restrict additional approval, consent, consultation, notice
or rating agency confirmation requirements; and (2) in the event of any conflict between this sentence and any other provision
of this Agreement, such other provision of the Agreement shall control.

 

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(e)       If
any provision required to be included in the Lead Securitization Servicing Agreement or a Non-Lead Servicing Agreement is not
included therein as required in this Agreement, each Holder agrees that each such provision shall be deemed to be incorporated
as a provision of and made a part of the Lead Securitization Servicing Agreement or such Non-Lead Servicing Agreement, as the
case may be

 

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

 

23.       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.

 

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24.       Modifications.
This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by the parties
hereto. Additionally, from and after a Securitization, except to cure any ambiguity or to correct any error or as set forth
in Section 21(a), (b) and (c) of this Agreement may not be modified unless a Rating Agency Confirmation
has been delivered with respect to each Securitization, except that no Rating Agency Confirmation shall be required in
connection with a modification to cure any ambiguity or to correct or supplement any provision herein that may be defective
or inconsistent with any other provisions herein or with the Servicing Agreement.

 

25.       Successors
and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the parties
hereto and their respective successors and assigns. Each of the Master Servicer, Special Servicer, the Trustee, any Non-Lead
Servicer and any Non-Lead Trustee is an intended third-party beneficiary of this Agreement. Except as provided in Section
5 and the preceding sentence, none of the provisions of this Agreement shall be for the benefit of or enforceable by any
Person not a party hereto.

 

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

 

27.       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.

 

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

 

29.       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.

 

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

 

    -39- 

     

    

 

31.       Withholding
Taxes.

 

(a)       If
the Note A-1 Holder or the Borrower shall be required by law to deduct and withhold Taxes from interest, fees or other amounts
payable to a Non-Lead Note Holder with respect to the Mortgage Loan as a result of such Non-Lead Note Holder constituting a Non-Exempt
Person, the Note A-1 Holder, in its capacity as servicer, shall be entitled to do so with respect to such Non-Lead Note Holder’s
interest in such payment (all withheld amounts being deemed paid to such Non-Lead Note Holder), provided that the Note
A-1 Holder shall furnish such Note Holder with a statement setting forth the amount of Taxes withheld, the applicable rate and
other information which may reasonably be requested for purposes of assisting such Note Holder to seek any allowable credits or
deductions for the Taxes so withheld in each jurisdiction in which such Note Holder is subject to tax.

 

(b)       Each
Non-Lead Note Holder shall and hereby agrees to indemnify the Note A-1 Holder against and hold the Note A-1 Holder harmless from
and against any Taxes, interest, penalties and reasonable attorneys’ fees and disbursements arising or resulting from any
failure of the Note A-1 Holder (or the Servicer on its behalf) to withhold Taxes from payment made to such Non-Lead Note Holder
in reliance upon any representation, certificate, statement, document or instrument made or provided by such Non-Lead Note Holder
to the Note A-1 Holder in connection with the obligation of the Note A-1 Holder to withhold Taxes from payments made to such Non-Lead
Note Holder, it being expressly understood and agreed that the Note A-1 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.

 

(c)       Contemporaneously
with the execution of this Agreement and from time to time as reasonably requested by the Note A-1 Holder or Servicer during the
term of this Agreement, each Non-Lead Note Holder shall deliver to the Note A-1 Holder or Servicer, as applicable, evidence satisfactory
to the Note A-1 Holder substantiating whether each Non-Lead Note Holder is a Non-Exempt Person and whether the Note A-1 Holder
is 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 any Non-Lead Note Holder is created or organized under the laws
of the United States, any state thereof or the District of Columbia, it shall satisfy the requirements of the preceding sentence
by furnishing to the Note A-1 Holder an Internal Revenue Service Form W-9 and (ii) if any Non-Lead 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 Borrower is treated for United States income tax purposes as derived in whole or part from sources within
the United States, such Non-Lead Note Holder shall satisfy the requirements of the preceding sentence by furnishing to the Note
A-1 Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments) or Form W-8BEN or Form W-8BEN-E, as
applicable, or successor forms, as may be required from time to time, duly executed by such Non-Lead Note Holder. The Note A-1
Holder shall not be obligated to make any payment hereunder to any Non-Lead Note Holder in respect of any Non-Lead Note or otherwise
until such Non-Lead Note Holder shall have furnished to the Note A-1 Holder the requested forms, certificates, statements or documents.

 

    -40- 

     

    

 

32.       Custody
of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Notes) will initially be
held by the initial Agent (or by a custodian on its behalf) and from and after the Securitization Date, by the trustee under
the Lead Securitization Servicing Agreement (or by a custodian on its behalf) under the terms of the Lead Securitization
Servicing Agreement on behalf of all of the Holders.

 

33.       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 13;

 

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

 

(c)       The
Agent shall be under no obligation to institute, conduct or defend any litigation hereunder or in relation hereto at the request,
order or direction of any of the Holders 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 13; and

 

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

 

34.       Termination
of Agent. The Agent may be terminated at any time upon ten (10) days prior written notice from the Note A-1 Holder. In
the event that the Agent is terminated pursuant to this Section 34, all of its rights and obligations under this
Agreement shall be terminated, other than any rights or obligations that accrued prior to the date of such
termination.

 

The
Agent may resign at any time upon notice, so long as a successor Agent, reasonably satisfactory to the Holders, has agreed to
be bound by this Agreement and perform the duties of the Agent hereunder. Natixis, as Initial Agent, may transfer its rights and
obligations to the Servicer, as successor Agent, at any time without the consent of any Holder. Natixis, as Initial Agent, shall
promptly and diligently attempt to cause such Servicer to act as successor Agent, and, if such Servicer declines to act in such
capacity, shall promptly and diligently attempt to cause a similar servicer to act as successor Agent. The termination or resignation
of such Servicer, as Servicer under the Servicing Agreement, shall be deemed a

 

    -41- 

     

    

 

termination or resignation of such Servicer as
Agent under this Agreement. Notwithstanding the to the contrary in this Agreement, upon a Securitization of Note A-1, the certificate
administrator shall automatically become and be the Agent.

 

[NO
FURTHER TEXT ON THIS PAGE]

 

    -42- 

     

    

 

IN
WITNESS WHEREOF, each of the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder, the Note A-5 Holder
and the Note A-6 Holder has caused this Agreement to be duly executed as of the day and year first above written.

  

	 	Note
    A-1 Holder and Initial Agent:
	 	 	 
	 	NATIXIS
    REAL ESTATE CAPITAL LLC
	 	 	 
	 	By:	/s/
    Delphine Clerjaud
	 	 	Name: Delphine
    Clerjaud
	 	 	Title:   Director

 

	 	By:	/s/
    Khaled Mohiuddin
	 	 	Name: Khaled Mohiuddin
	 	 	Title:   Director

 

	 	Note A-2 Holder:
	 	 	 
	 	NATIXIS REAL ESTATE CAPITAL LLC
	 	 	 
	 	By:	/s/ Delphine
    Clerjaud
	 	 	Name: Delphine Clerjaud
	 	 	Title:   Director

 

	 	By:	/s/
    Khaled Mohiuddin
	 	 	Name: Khaled Mohiuddin
	 	 	Title:   Director

 

PIER
ONE: CO-LENDER AGREEMENT

 

     

     

    

 

	 	Note A-3 Holder:
	 	 	 
	 	NATIXIS REAL ESTATE CAPITAL LLC
	 	 	 
	 	By:	/s/ Delphine
    Clerjaud
	 	 	Name: Delphine Clerjaud
	 	 	Title:   Director

 

	 	By:	/s/
    Khaled Mohiuddin
	 	 	Name: Khaled Mohiuddin
	 	 	Title:   Director

  

	 	Note A-4 Holder:
	 	 	 
	 	NATIXIS REAL ESTATE CAPITAL LLC
	 	 	 
	 	By:	/s/ Delphine
    Clerjaud
	 	 	Name: Delphine Clerjaud
	 	 	Title:   Director

 

	 	By:	/s/
    Khaled Mohiuddin
	 	 	Name: Khaled Mohiuddin
	 	 	Title:   Director

  

	 	Note A-5 Holder:
	 	 	 
	 	NATIXIS REAL ESTATE CAPITAL LLC
	 	 	 
	 	By:	/s/ Delphine
    Clerjaud
	 	 	Name: Delphine Clerjaud
	 	 	Title:   Director

 

	 	By:	/s/
    Khaled Mohiuddin
	 	 	Name: Khaled Mohiuddin
	 	 	Title:   Director

 

PIER
ONE: CO-LENDER AGREEMENT

 

     

     

    

 

	 	Note A-6 Holder:
	 	 	 
	 	NATIXIS REAL ESTATE CAPITAL LLC
	 	 	 
	 	By:	/s/ Delphine
    Clerjaud
	 	 	Name: Delphine Clerjaud
	 	 	Title:   Director

 

	 	By:	/s/
    Khaled Mohiuddin
	 	 	Name: Khaled Mohiuddin
	 	 	Title:   Director

 

PIER
ONE: CO-LENDER AGREEMENT

 

     

     

    

 

EXHIBIT
A

 

MORTGAGE
LOAN SCHEDULE

 

A.       Description
of Mortgage Loan

 

	Mortgage
    Loan	 
	Borrower:	Hertz
    Fort Worth Energy Way, LP
	Mortgage
    Loan Origination Date:	August
    15, 2018
	Initial
    Principal Amount of Mortgage Loan:	$55,000,000
	Location
    of Mortgaged Property:	Fort
    Worth, Texas
	Current
    Use of Mortgaged Property:	Retail
	Mortgage
    Interest Rate:	4.862%
    per annum
	Maturity
    Date:	September
    5, 2028

 

    A-1

     

    

 

B.       Description
of Notes

 

	Mortgage
    Loan Origination Date:	August
    15, 2018
	Initial
    Note A-1 Principal Balance:	$20,000,000
	Initial
    Note A-2 Principal Balance:	$10,000,000
	Initial
    Note A-3 Principal Balance:	$10,000,000
	Initial
    Note A-4 Principal Balance:	$5,000,000
	Initial
    Note A-5 Principal Balance:	$5,000,000
	Initial
    Note A-6 Principal Balance:	$5,000,000
	Initial
    Note A-1 Percentage Interest:	36.36%
	Initial
    Note A-2 Percentage Interest:	18.18%
	Initial
    Note A-3 Percentage Interest:	18.18%
	Initial
    Note A-4 Percentage Interest:	9.09%
	Initial
    Note A-5 Percentage Interest:	9.09%
	Initial
    Note A-6 Percentage Interest:	9.09%
	Note
    A-1 Interest Rate:	4.862%
    per annum
	Note
    A-2 Interest Rate:	4.862%
    per annum
	Note
    A-3 Interest Rate:	4.862%
    per annum
	Note
    A-4 Interest Rate:	4.862%
    per annum
	Note
    A-5 Interest Rate:	4.862%
    per annum
	Note
    A-6 Interest Rate:	4.862%
    per annum
	Note
    A-1 Default Interest Rate:	A
rate per annum equal to the lesser of (i) the maximum rate permitted by 

        applicable
        law, or (ii) 5% above the Note A-1 Interest Rate, compounded monthly

        

	Note
    A-2 Default Interest Rate:	A
rate per annum equal to the lesser of (i) the maximum rate permitted by 

        applicable
        law, or (ii) 5% above the Note A-2 Interest Rate, compounded monthly

        

	Note
    A-3 Default Interest Rate:	A
rate per annum equal to the lesser of (i) the maximum rate permitted by 

        applicable
law, or (ii) 5% above the Note A-3 Interest Rate, compounded monthly 

	Note
    A-4 Default Interest Rate:	A
rate per annum equal to the lesser of (i) the maximum rate permitted by 

        applicable
        law, or (ii) 5% above the Note A-4 Interest Rate, compounded monthly

        

	Note
    A-5 Default Interest Rate:	A
rate per annum equal to the lesser of (i) the maximum rate permitted by 

        applicable
law, or (ii) 5% above the Note A-5 Interest Rate, compounded monthly 

	Note
    A-6 Default Interest Rate:	A
rate per annum equal to the lesser of (i) the maximum rate permitted by 

        applicable
        law, or (ii) 5% above the Note A-6 Interest Rate, compounded monthly

        

 

    A-2

     

    

 

EXHIBIT
B

 

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

Note A-6 Holder:

 

Natixis
Real Estate Capital LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Real Estate Administration

Facsimile: (212) 891-5777

Email: USCIBSAFAssetManagementTeam@natixis.com

 

with
a copy to:

Natixis Real Estate Capital LLC

1251 Avenue of the Americas

New York, New York 10020

Attention: Office of the General Counsel

for legal notices, with a copy to:

 

legal.notices@natixis.com

 

    B-1

     

    

 

EXHIBIT
C

 

PERMITTED
FUND MANAGERS

 

Westbrook
Partners

iStar
Financial Inc.

Capital
Trust

Archon
Capital, L.P.

Whitehall
Street Real Estate Fund, L.P.

The
Blackstone Group

Normandy
Real Estate Partners 

Dune
Real Estate Partners 

AllianceBernstein 

Rockwood 

RREEF
Funds 

Hudson
Advisors 

Artemis
Real Estate Partners 

Apollo
Real Estate Advisors 

Colony
Capital, Inc. 

Praedium
Group 

Fortress
Investment Group, LLC 

Lonestar
Opportunity Funds 

Clarion
Partners 

Walton
Street Capital, LLC 

Starwood
Financial Trust 

BlackRock,
Inc. 

Eightfold
Real Estate Capital, L.P. 

Rialto
Capital Management, LLC 

Rialto
Capital Advisors, LLC 

Raith
Capital Partners, LLC

 

    C-1

     

    

 

EXHIBIT
D

 

UNANIMOUS
CONSENT DECISIONS

 

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

 

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

 

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

 

		(iv)	any
                                         sale of the Mortgage Loan or REO Property for amount less than the total amount due and
                                         outstanding on the Mortgage Loan at such time;

 

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

 

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

 

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

 

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

 

		(ix)	any
                                         material modification, waiver or amendment of an intercreditor agreement, co-lender agreement
                                         or similar agreement with any mezzanine lender or subordinate debt holder related to
                                         the Mortgage Loan, or any action to enforce rights (or decision not to enforce rights)
                                         with respect thereto, or any material modification, waiver or amendment thereof;

 

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

 

    D-1

     

    

 

		(xi)	releases
                                         of any material amounts from any escrow accounts, reserve funds or letters of credit,
                                         in each case, held as performance escrows or reserves, other than those required pursuant
                                         to the specific terms of the Mortgage Loan Documents and for which there is no lender
                                         discretion (the determination of whether the conditions precedent to releasing any such
                                         escrow accounts, reserve funds or letters of credit have been satisfied shall not constitute
                                         matters of lender discretion for purposes of this clause (xi));

 

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

 

		(xiii)	any
                                         vote on any plan of reorganization, restructuring or similar plan in the bankruptcy of
                                         the Borrower;

 

		(xiv)	any
                                         consent to the subordination of the lien on the Mortgaged Property or to crossing the
                                         lien on the Mortgaged Property with the lien on any other Mortgaged Property, except
                                         as expressly permitted by the Mortgage Loan Documents without lender’s consent;
                                         or

 

		(xv)	any
                                         determination as to application of any insurance proceeds with respect to the Mortgaged
                                         Property.

 

    D-2

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