Document:

Exhibit 4.7

 

 

EXECUTION VERSION

 

AGREEMENT AMONG NOTEHOLDERS

 

Dated as of November 20, 2017

by and among

 

CANTOR COMMERCIAL REAL ESTATE LENDING,
L.P.

(Initial Note A-1 Holder, Initial Note A-2 Holder, Initial Note A-3 Holder, 

Initial Note A-4 Holder and Initial Note
A-5 Holder)

 

and

 

PRIMA MORTGAGE INVESTMENT TRUST, LLC

(Initial Junior Noteholder)

 

DREAMWORKS CAMPUS

 

    

     

    

 

TABLE OF CONTENTS

 

Page

 

	Section
    1	Definitions	 	2
	Section 2	Servicing	 	28
	Section 3	Subordination of
    Junior Note; Payments Prior to a Sequential Pay Event	 	35
	Section 4	Payments Following
    a Sequential Pay Event	 	37
	Section 5	Administration of
    the Mortgage Loan	 	40
	Section 6	Appointment of Operating
    Advisor	 	48
	Section 7	Special Servicer	 	50
	Section 8	Payment Procedure	 	51
	Section 9	Limitation on Liability
    of the Noteholders	 	52
	Section 10	Bankruptcy	 	53
	Section 11	Cure Rights of Controlling
    Noteholder	 	54
	Section 12	Purchase of Senior
    Note By Junior Noteholder	 	56
	Section 13	Representations
    of Junior Noteholder	 	58
	Section 14	Representations
    of the Senior Noteholder	 	59
	Section 15	Independent Analysis
    of the Junior Noteholder and the Senior Noteholder	 	59
	Section 16	No Creation of a
    Partnership	 	60
	Section 17	Not a Security	 	60
	Section 18	Other Business Activities
    of the Noteholders	 	60
	Section 19	Sale of the Junior
    Note and the Senior Note	 	60
	Section 20	Registration of
    Transfer	 	65
	Section 21	Registration of
    Note A-1, Note A-2 and Junior Note	 	66
	Section 22	No Pledge	 	66
	Section 23	Cooperation in Securitization	 	66
	Section 24	Governing Law; Waiver
    of Jury Trial	 	68
	Section 25	Submission To Jurisdiction;
    Waivers	 	68
	Section 26	Modifications	 	69
	Section 27	Successors and Assigns;
    Third Party Beneficiaries	 	69
	Section 28	Counterparts; Facsimile
    Execution	 	69
	Section 29	Captions	 	70
	Section 30	Severability	 	70
	Section 31	Entire Agreement	 	70
	Section 32	Withholding Taxes	 	70
	Section 33	Custody of Mortgage
    Loan Documents	 	72
	Section 34	Servicing of the
    Loan After the Securitization Date	 	72
	Section 35	Notices	 	72
	Section 36	Broker	 	72
	Section 37	Certain Matters
    Affecting the Agent	 	72
	Section 38	Termination of Agent	 	73
	Section 39	Resizing	 	73

 

     -i-

     

    

 

THIS AGREEMENT AMONG
NOTEHOLDERS (with the exhibits and schedules hereto and all amendments and modifications hereof and supplements hereto, this “Agreement”),
dated as of November 20, 2017 by and among Cantor Commercial Real Estate Lending, L.P. (“CCRE”), together with
its successors and assigns in interest, in its capacity as the initial owner of Note A-1 (as defined herein)(the “Initial
Note A-1 Holder”), CCRE, together with its successors and assigns in interest, in its capacity as the initial owner
of Note A-2 (as defined herein)(the “Initial Note A-2 Holder”), CCRE, together with its successors and
assigns in interest, in its capacity as the initial owner of Note A-3 (as defined herein)(the “Initial Note A-3 Holder”),
CCRE, together with its successors and assigns in interest, in its capacity as the initial owner of Note A-4 (as defined
herein)(the “Initial Note A-4 Holder”), CCRE, together with its successors and assigns in interest, in its
capacity as the initial owner of Note A-5 (as defined herein)(the “Initial Note A-5 Holder”; 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
shall be referred to herein each as an “Initial Senior Noteholder” and collectively as the “Initial
Senior Noteholders”) and Prima Mortgage Investment Trust, LLC, together with its successors and assigns in interest,
in its capacity as the initial owner of the Junior Note (as defined herein) (the “Initial Junior Noteholder”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
the Mortgage Loan Agreement (as defined herein), the Initial Senior Noteholders and the Initial Junior Noteholder originated a
certain loan described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) (the
“Mortgage Loan”) to the mortgage loan borrower described on the Mortgage Loan Schedule (the “Mortgage
Loan Borrower”), which is evidenced, inter alia, by six promissory notes (each, a “Note” and
collectively, as amended, modified or supplemented, the “Notes”), each dated November 20, 2017, with the first
such note in the original principal amount of Twenty-Five Million and No/100 Dollars ($25,000,000.00) (as amended, modified or
supplemented, “Note A-1”) made by the Mortgage Loan Borrower in favor of the Initial Note A-1 Holder, with the
second such note in the original principal amount of Twenty Million and No/100 Dollars ($20,000,000.00) (as amended, modified or
supplemented, “Note A-2”) made by the Mortgage Loan Borrower in favor of the Initial Note A-2 Holder, with the
third such note in the original principal amount of Twenty Million and No/100 Dollars ($20,000,000.00) (as amended, modified or
supplemented, “Note A-3”) made by the Mortgage Loan Borrower in favor of the Initial Note A-3 Holder, with the
fourth such note in the original principal amount of Seventeen Million and No/100 Dollars ($17,000,000.00) (as amended, modified
or supplemented, “Note A-4”) made by the Mortgage Loan Borrower in favor of the Initial Note A-4 Holder, with
the fifth such note in the original principal amount of Ten Million and No/100 Dollars ($10,000,000.00) (as amended, modified or
supplemented, “Note A-5” and, together with Note A-1, Note A-2, Note A-3 and Note A-4, each, a “Senior
Note” and collectively, the “Senior Notes”) made by the Mortgage Loan Borrower in favor of the Initial
Note A-5 Holder, and with the six such note in the original principal amount of One Hundred Eight Million and No/100 Dollars ($108,000,000.00)
(as amended, modified or supplemented, “Note B” or the “Junior Note”) made by the Mortgage
Loan Borrower in favor of the Initial Junior Noteholder, and secured by certain first mortgages or deeds of trust lien (as amended,
modified or supplemented, the “Mortgage”) on one or more parcels of, or estates in,

 

    

     

    

 

real property located as
described on the Mortgage Loan Schedule (collectively, the “Mortgaged Property”);

 

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

 

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

 

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

 

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

 

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

 

“Additional
Servicing Expenses” shall mean (a) all Servicing Advances, fees and/or expenses incurred by and reimbursable to any Servicer,
Trustee, Securitization Operating Advisor, Certificate Administrator or fiscal agent pursuant to the Servicing Agreement, and (b)
all interest accrued on Advances made by (x) any Servicer, Trustee or fiscal agent in accordance with the terms of the Servicing
Agreement or (y) any Non-Lead Servicer, Non-Lead Trustee or the fiscal agent in accordance with the terms of the related Non-Lead
Securitization Servicing Agreement; provided that (i) the aggregate special servicing fee (or equivalent) (which fee is
payable solely during the period that the Mortgage Loan is a Specially Serviced Loan) shall not exceed an amount equal to 0.25%
per annum of the outstanding principal balance of the Mortgage Loan, (ii) the special servicing liquidation fee (or equivalent)
shall not exceed 1.0% of the collections made with respect to the Mortgage Loan or any sums received from proceeds from the disposition
of the Mortgaged Property or the Mortgage Loan, as the case may be, (iii) the special servicing workout fee (or equivalent) shall
not exceed 1.0% of the collections made with respect to the Mortgage Loan while the Mortgage Loan is a performing or “corrected”
loan (or such other analogous term pursuant to the Servicing Agreement), (iv) in no event shall both a workout fee and a liquidation
fee be payable on the same principal payment; and (v) any such workout fee or liquidation fees shall be excluded if the Senior
Notes are purchased within ninety (90) days of the date on which the first Noteholder Purchase Notice was given to the Junior Note
Holder.

 

    2 

     

    

 

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

 

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

 

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

 

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

 

“Agent Office”
shall mean, prior to the First Securitization, the designated office of the Initial Agent in the State of New York, which office
at the date of this Agreement is located at Cantor Commercial Real Estate Lending, L.P., 110 East 59th Street, 6th Floor, New York,
New York 10022, Attention: Legal Department, Email: legal@ccre.com, and which is the address to which notices to and correspondence
with the Agent should be directed. The Agent may change the address of its designated office by notice to the Noteholders.

 

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

 

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

 

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

 

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

 

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

 

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

 

    3 

     

    

 

“Balloon Payment”
shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Conduit Credit
Enhancer” shall have the meaning assigned to such term in Section 19(f).

 

“Conduit Inventory
Loan” shall have the meaning assigned to such term in Section 19(f).

 

“Control”
means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of an
entity, whether through the ability to exercise voting power, by contract or otherwise; provided that, for purposes of the definition
of “Qualified Institutional Lender” as used in this Agreement, “Control” shall also require the ownership,
directly or indirectly, in the aggregate of more than fifty percent (50%) of the beneficial ownership interests of an entity. “Controlled”
and “Controlling” each have the meaning correlative thereto.

 

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

 

    4 

     

    

 

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

 

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

 

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

 

“Controlling
Noteholder” shall mean as of any date of determination (i) the Junior Noteholder, unless a Control Appraisal Period has
occurred and is continuing or (ii) if a Control Appraisal Period has occurred and is continuing, the Note A-1 Holder; provided
that at any time the Note A-1 Holder is the Controlling Noteholder and Note A-1 is included in the Lead Securitization, references
to the “Controlling Noteholder” herein shall mean the holders of the majority of the class of securities issued in
the Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the rights
to exercise the rights of the “Controlling Noteholder” hereunder, as and to the extent provided in the Servicing Agreement;
provided that, if the Junior Noteholder would be the Controlling Noteholder pursuant to the terms hereof, but any interest
in the Junior Note is held by any Mortgage Loan Borrower Related Party, or any Mortgage Loan Borrower Related Party would otherwise
be entitled to exercise the rights of the Junior Noteholder as Controlling Noteholder, a Control Appraisal Period shall be deemed
to have occurred. If a Control Appraisal Period has occurred or deemed to have occurred and any interest in Note A-1
is held by any Mortgage Loan Borrower Related Party, or any Mortgage Loan Borrower Related Party would otherwise be entitled to
exercise the rights of the Note A-1 Holder as Controlling Noteholder, the rights of the Controlling Noteholder shall be exercised
by the Note A-2 Holder, unless any interest in Note A-2 is held by any Mortgage Loan Borrower Related Party, in which
case the rights of the Controlling Noteholder shall be exercised by the Note A-3 Holder, unless any interest in Note A-3 is held
by any Mortgage Loan Borrower Related Party, in which case the rights of the Controlling Noteholder shall be exercised by the Note
A-4 Holder, unless any interest in Note A-4 is held by any Mortgage Loan Borrower Related Party, in which case the
rights of the Controlling Noteholder shall be exercised by the Note A-5 Holder, unless any interest in Note A-5 is
held by any Mortgage Loan Borrower Related Party, in which case the rights of the Controlling Noteholder shall be deemed null and
void and no Mortgage Loan Borrower Related Party shall be entitled to exercise such rights. As of the Closing Date, the Controlling
Noteholder will be the Junior Noteholder. 

 

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

 

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

 

    5 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    6 

     

    

 

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

 

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

 

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

 

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

 

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

 

“Initial Agent”
shall mean Cantor Commercial Real Estate Lending, L.P., in its capacity as the initial Agent hereunder.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    7 

     

    

 

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

 

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

 

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

 

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

 

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

 

“Junior Note”
shall mean Note B.

 

“Junior Noteholder”
shall mean the Initial Junior Noteholder or any subsequent holder of the Junior Note, together with its successors and assigns.

 

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

 

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

 

    8 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Lead Securitization
Servicing Agreement” shall mean, as of any date of determination, the pooling and servicing agreement that governs the
Securitization that is then the Lead Securitization, which shall be substantially in the form of the Model PSA (except that the
Special Servicer for the Mortgage Loan shall initially be specified to be Aegon USA Realty Advisors, LLC as required by this Agreement)
and shall be a pooling and servicing agreement customary and usually used in the servicing practices of servicers of commercial
mortgage loans intended to be securitized; provided it is acknowledged that such agreement is subject in all respects to changes
(i) required by the Code relating to the tax elections of the related Securitization Trust, (ii) required by law or changes in
any law, rule or regulation, (iii) requested by the Rating Agencies or any purchaser of subordinate certificates or (iv) such other
changes as the holder of the Lead Securitization Note deems advisable to conform to recent market pooling and servicing agreements
for commercial mortgage securitizations; provided further, that during any period that the Mortgage Loan is no longer subject to
the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall
be determined in accordance with Section 2(f).

 

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

 

    9 

     

    

 

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

 

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

 

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

 

“Major Decisions”
shall mean:

 

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

 

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

 

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

 

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

 

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

 

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

 

(vii)      any
property management company changes (to the extent the lender is required to consent or approve under the Mortgage Loan Documents);

 

    10 

     

    

 

(viii)     releases
of any escrow accounts, reserve accounts or letters of credit held as performance or “earn out” escrows or reserves
other than those required pursuant to the specific terms of the Mortgage Loan and for which there is no lender discretion (the
determination of whether the conditions precedent to releasing or reducing any such escrow accounts, reserve accounts or letters
of credit have been satisfied shall not constitute matters of lender discretion for purposes of this clause (viii));

 

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

 

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

 

(xi)        following
an Event of Default with respect to the Mortgage Loan, (A) any exercise of a material remedy on the Mortgage Loan or any acceleration
of the Mortgage Loan, as the case may be, or (B) the initiation of judicial, bankruptcy or similar proceedings under the Mortgage
Loan Documents or with respect to the Mortgage Loan Borrower or Mortgaged Property, as well as the making of any election, the
granting of any consent, or the filing of any motion, claim, obligation, notice or application in connection with any such bankruptcy
or similar proceedings;

 

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

 

(xiii)     any
determination of an Acceptable Insurance Default;

 

(xiv)     any
proposed modification or waiver of any material provision in the Mortgage Loan Documents governing the type, nature or amount of
insurance coverage required to be obtained and maintained by the Mortgage Loan Borrower;

 

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

 

(xvi)     any
approval of any casualty insurance settlements or condemnation settlements, and any determination to apply casualty proceeds or
condemnation awards to the reduction of the debt rather than to the restoration of the Mortgaged

 

    11 

     

    

 

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

 

(xvii)    any
approval of (A) any Lease, (B) any modification, amendment, renewal, termination or surrender of any Lease, and (C) any waiver
or consent granted by lender in respect of any Lease other than consents and waivers solely of a ministerial nature (in the case
of each of the matters described in the preceding clauses (A) through (C), solely to the extent that lender’s approval is
required in connection therewith under the Mortgage Loan Documents); and

 

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

 

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

 

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

 

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

 

“Model PSA”
shall mean the pooling and servicing agreement dated as of November 1, 2017, among UBS Commercial Mortgage Securitization Corp.,
as depositor, Midland Loan Services, a Division of PNC Bank, National Association, as master servicer and special servicer, Wells
Fargo Bank, National Association, as certificate administrator and trustee, and Park Bridge Lender Services LLC, as operating advisor
and asset representations reviewer, with respect to the Commercial Mortgage Pass Through Certificates - Series 2017-C5 securitization.

 

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

 

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

 

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

 

    12 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

“Mortgage Loan
Agreement” shall mean the mortgage loan agreement, dated as of November 20, 2017, among the Mortgage Loan Borrower, the
Initial Senior Noteholder and the Initial Junior Noteholder, as the same may be amended, restated, renewed, extended, modified
or supplemented from time to time, subject to the terms hereof.

 

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

 

“Mortgage Loan
Borrower Related Party” shall have the meaning assigned to such term in Section 18.

 

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

 

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

 

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

 

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

 

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

 

“Non-Controlling
Class Representative” shall mean the holders of the majority of the class of securities issued in the Securitization
of a Non-Lead Securitization Note designated as the “controlling class” pursuant to the related Non-Lead Securitization
Servicing Agreement or their duly appointed representative; provided that, if 50% or more of the class of securities issued
in such Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned the
rights to exercise the rights of the “Controlling Noteholder” is

 

    13 

     

    

 

held by any Mortgage Loan Borrower Related Party,
no Person shall be entitled to exercise the rights of such Non-Controlling Class Representative.

 

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

 

“Non-Controlling
Noteholder” means the holder of a Non-Controlling Note; provided that, at any time a Non-Controlling Note is included
in a Securitization, references to a “Non-Controlling Noteholder” herein shall mean the Non-Controlling Class Representative
or any other party assigned the rights to exercise the rights of a “Non-Controlling Noteholder” hereunder, as and to
the extent provided in the related Non-Lead Securitization Servicing Agreement and as to the identity of which the Lead Securitization
Noteholder (and the Master Servicer and the Special Servicer) has been given written notice; provided that, if at any time
50% or more of a Non-Controlling Note (or, at any time a Non-Controlling Note is included in a Securitization, the class of securities
issued in such Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned
the rights to exercise the rights of the “Controlling Noteholder”) is held by any Mortgage Loan Borrower Related Party,
no Person shall be entitled to exercise the rights of such Non-Controlling Noteholder with respect to such Non-Controlling Note.
The Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) shall not be required
at any time to deal with more than one party exercising the rights of any “Non-Controlling Noteholder” herein or under
the Servicing Agreement and, (x) to the extent that the related Non-Lead Securitization Servicing Agreement assigns such rights
to more than one party or (y) to the extent a Non-Controlling Note is split into two or more New Notes pursuant to Section 39,
for purposes of this Agreement, such Non-Lead Securitization Servicing Agreement or the holders of such New Notes shall designate
one party to deal with Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting on its behalf) and
provide written notice of such designation to the Lead Securitization Noteholder (and the Master Servicer and the Special Servicer
acting on its behalf); provided that, in the absence of such designation and notice, the Lead Securitization Noteholder
(or the Master Servicer or the Special Servicer acting on its behalf) shall be entitled to treat the last party as to which it
has received written notice with respect to any Non-Controlling Note as having been designated as the related Non-Controlling Noteholder,
as a Non-Controlling Noteholder for all purposes of this Agreement and the Servicing Agreement. 

 

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

 

    14 

     

    

 

Master
Servicer and the Non-Lead Special Servicer (who then may forward such items to the party entitled to receive such items as and
to the extent provided in the related Non-Lead Securitization Servicing Agreement) and, when so delivered to such Non-Lead Master
Servicer and Non-Lead Special Servicer, the Lead Securitization Noteholder (or the Master Servicer or the Special Servicer acting
on its behalf) shall be deemed to have satisfied its delivery obligations to such Non-Lead Securitization Noteholder with respect
to such items hereunder or under the Servicing Agreement.

 

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

 

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

 

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

 

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

 

“Non-Lead Securitization”
shall mean, (i) on and after the Note A-1 Securitization Date, the Note A-2 Securitization, the Note A-3 Securitization, the Note
A-4 Securitization or 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
Note” shall mean any Senior Note included in a Non-Lead Securitization.

 

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

 

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

 

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

 

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

 

    15 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“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, together with its successors and assigns.

 

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

 

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

 

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

 

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

 

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

 

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

 

    16 

     

    

 

sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal
Balance, the Note A-4 Principal Balance, the Note A-5 Principal Balance and the Junior Note Principal Balance.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Note A-4 Holder”
shall mean the Initial Note A-4 Holder or any subsequent holder of Note A-4, together with its successors and assigns.

 

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

 

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

 

    17 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    18 

     

    

 

respect of
a delinquent monthly debt service payment on the related Non-Lead Securitization Note.

 

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

 

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

 

“Permitted Fund
Manager” shall mean any Person that, on the date of determination, is (i) one of the entities on Exhibit C attached
hereto and made a part hereof or any other nationally-recognized manager of investment funds investing in debt or equity interests
relating to commercial real estate, (ii) investing through a fund with committed capital of at least $500,000,000, (iii) not a
Prohibited Person, (iv) not a Prohibited Entity and (v) not subject to a proceeding relating to the bankruptcy, insolvency, reorganization
or relief of debtors.

 

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

 

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

 

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

 

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

 

“Pro Rata and
Pari Passu Basis” shall mean with respect to the Senior Notes and the Senior Noteholders, the allocation of any particular
payment, collection, cost, expense, liability or other amount among such Notes or such Noteholders, as the case may be, without
any priority of any such Note or any such Noteholder over another such Note or Noteholder, as the case may be, and in any event
such that each such Note or Noteholder, as the case may be, is allocated its pro rata share of such particular payment,
collection, cost, expense, liability or other amount (such pro rata share allocable to any individual Senior Note being
equal to a fraction, the numerator of which is the Principal Balance of such individual Senior Note and the denominator of which
is the sum of the Note A-1 Principal Balance, the Note A-2 Principal Balance, the

 

    19 

     

    

 

Note A-3 Principal Balance, the Note A-4 Principal
Balance and the Note A-5 Principal Balance).

 

“Prohibited
Entity” shall mean (i) an entity the owners of which are tenants in common, (ii) a Delaware statutory trust or (iii)
a “crowd funded” entity.

 

“Prohibited
Person” means any Person:

 

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

 

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

 

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

 

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

 

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

 

(vi)       that
is subject to trade restrictions under United States law, including, without limitation, the Uniting and Strengthening America
by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (the “Patriot Act”),
115 Stat. 272 (2001), the International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the
Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder;

 

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

 

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

 

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

 

    20 

     

    

 

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

 

(b)              
one or more of the following:

 

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

 

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

 

(iii)           a
Qualified Trustee (or, in the case of a collateralized debt obligations (“CDO”), a single purpose bankruptcy
remote entity which contemporaneously assigns or pledges its interest in the Junior Note or a participation interest therein (or
any portion thereof or interest therein) to a Qualified Trustee) in connection with (A) a securitization of, (B) the creation
of a CDO secured by, or (C) a financing through an “owner trust” of, the Junior Note (or any portion thereof or interest
therein) (any of the foregoing, a “Securitization Vehicle”), provided that (1) one or more classes of securities
issued by such Securitization Vehicle is initially rated at least investment grade by each of the Rating Agencies which assigned
a rating to one or more classes of securities issued in connection with a Securitization (it being understood that, with respect
to any Rating Agency that assigned such a rating to the securities issued by such Securitization Vehicle, a Rating Agency Confirmation
will not be required in connection with a transfer of the Junior Note (or any portion thereof or interest therein) to such Securitization
Vehicle (and, if DBRS is not one of such Rating Agencies, the special servicer for the Securitization Vehicle is an Approved Servicer),
except that, if one or more classes of securities issued in connection with a Securitization is rated by Moody’s, the transferee
may not rely on this clause (1) with respect to Moody’s); (2) in the case of a Securitization Vehicle that is
not a CDO, the special servicer of such Securitization Vehicle has a Required Special Servicer Rating (such entity, an “Approved
Servicer”) and such Approved Servicer is required to service and administer the Junior Note in accordance with servicing
arrangements for the assets held by such Securitization Vehicle which require that such Approved Servicer act in accordance with
a servicing standard notwithstanding any contrary direction or instruction from any other Person; or (3) in the case of a Securitization
Vehicle that is a CDO, the CDO Asset Manager and, if applicable, each Intervening Trust Vehicle that is not administered and managed
by a CDO Asset Manager which is a Qualified Institutional Lender, are each a Qualified Institutional Lender under clause (b)(i),
(b)(ii), (b)(iv) or (b)(v) of this definition, or

 

    21 

     

    

 

(iv)           
an investment fund, limited liability company, limited partnership or general partnership having capital and/or capital
commitments of at least $500,000,000, in which (A) a Senior Noteholder or an Initial Junior Noteholder, (B) a Person that is otherwise
a Qualified Institutional Lender under clause (b)(i), (b)(ii) or (b)(v) (with respect to an institution substantially similar
to the entities referred to in clause (b)(i) or (b)(ii) above), or (C) a Permitted Fund Manager acts as a general partner, managing
member, or the fund manager responsible for the day-to-day management and operation of such investment vehicle; provided that
at least 51% of the equity interests in such investment vehicle are owned, directly or indirectly, by one or more entities that
are otherwise Qualified Institutional Lenders, or

 

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

 

and, in the
case of any entity referred to in clause (b)(i), (b)(ii), (b)(iii)(A), (b)(iv)(B) or (b)(v), (x) such entity has at least $400,000,000
in capital/statutory surplus or shareholders’ equity (except with respect to a pension advisory firm or similar fiduciary)
and at least $1,000,000,000 in total assets (in name or under management), and (y) is regularly engaged in the business of making
or owning commercial real estate loans (or interests therein) similar to the Mortgage Loan or mezzanine loans with respect to
commercial real estate or owning or operating commercial real estate properties; provided that, in the case of the entity described
in clause (b)(iv)(B) above, the requirements of this clause (y) may be satisfied by a general partner, managing member, or the
fund manager responsible for the day-to-day management and operation of such entity, or

 

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

 

Notwithstanding
the foregoing, in no event shall any of the Persons listed in clauses (a) through (c) above be deemed Qualified Institutional
Lenders to the extent that such Person (I) is a Prohibited Person, (II) itself has been and/or any other Person owned or controlled
by such Person or affiliated with such Person has been, within the ten (10) years preceding the date of determination, the subject
of any case, proceeding or other action by or against such Person under any existing or future law of any jurisdiction relating
to bankruptcy, insolvency, reorganization or relief of debtors, or (III) is Controlled by and/or owned in any material respect
by any Person(s) which have ever been convicted of a felony.

 

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

 

    22 

     

    

 

“Rating
Agencies” shall mean DBRS, Fitch, KBRA, Moody’s, Morningstar and S&P and their respective successors in interest
and, if any of such entities shall for any reason no longer perform the functions of a securities rating agency, any other nationally
recognized statistical rating agency(ies) reasonably designated by the applicable Depositor to rate the securities issued in connection
with a Securitization of Note A-1, Note A-2, Note A-3, Note A-4, Note A-5 or any portion thereof; provided, however, that, at
any time during which Note A-1, Note A-2, Note A-3, Note A-4, Note A-5 or any portion thereof is an asset of one or more Securitizations,
“Rating Agencies” shall mean, with respect to Note A-1, Note A-2, Note A-3, Note A-4 or Note A-5, as applicable, only
those rating agencies that are engaged by the applicable Depositor(s) from time to time to rate the securities issued in connection
with such Securitization.

 

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

 

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

 

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

 

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

 

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

 

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

 

“Required
Special Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”,
(ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special
Servicer, (iii) in the case of Moody’s, such special servicer is acting as special servicer for one or more loans included
in a commercial mortgage loan securitization that was rated by Moody’s within the twelve (12) month period prior to the
date of determination, and Moody’s has not downgraded or withdrawn the then-current rating on any class of commercial mortgage
securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer as

 

    23 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Senior
Noteholder” shall mean, collectively, the holders of the Senior Notes, together with their respective successors and
assigns.

 

    24 

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    25 

     

    

 

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

 

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

 

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

 

“Special
Servicer” shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or such other
analogous term used in the Lead Securitization Servicing Agreement, which, with respect to the Mortgage Loan only, shall initially
be AEGON USA Realty Advisors, LLC. For the avoidance of doubt, all references to the Special Servicer in this Agreement shall
refer to AEGON USA Realty Advisors, LLC or any successor “special servicer” appointed by the Controlling Noteholder.

 

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

 

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

 

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

 

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

 

“Transfer”
shall mean any sale, assignment, transfer, pledge, syndication, participation, hypothecation, contribution, encumbrance or other
disposition (either (i) directly or (ii) indirectly through entering into a derivatives contract or any other similar
agreement,

 

    26 

     

    

 

excluding a
Pledge in accordance with Section 19(e) prior to the realization on the applicable collateral by the related Note Pledgee).

 

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

 

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

 

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

 

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

 

Section
2.               
Servicing.

 

(a)   
Each Noteholder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced
prior to the Securitization Date, as described in the definition of the Servicing Agreement and from and after the Securitization
Date (except as otherwise set forth in Section 2(f)), pursuant to the Lead Securitization Servicing Agreement; provided
that the Master Servicer shall not be obligated to make P&I Advances in respect of the Notes other than the Lead Securitization
Note (and each Non-Lead Master Servicer shall be required to advance monthly payments of principal and interest on the related
Non-Lead Securitization Note pursuant to the terms of the related Non-Lead Securitization Servicing Agreement) if such principal
or interest is not paid by the Mortgage Loan Borrower, but shall be obligated to make Servicing Advances, subject to the terms
of the Lead Securitization Servicing Agreement including any provisions governing the determination of non-recoverability. The
Junior Noteholder acknowledges that any Senior Noteholder may elect, in its sole discretion, to include its respective Note, or
any portion thereof, in one or more Securitizations and agrees that it will, subject to Section 23, reasonably cooperate
with the applicable Senior Noteholder, at such Senior Noteholder’s expense, to effect any such Securitization. Subject to
the terms and conditions of this Agreement, each Noteholder hereby irrevocably and unconditionally consents to the appointment
of the Master Servicer, the Special Servicer, the Trustee, any Certificate Administrator, the Asset Representations Reviewer and
any Securitization Operating Advisor under the Lead Securitization Servicing Agreement by the applicable Depositor and agrees
to reasonably cooperate with the Master Servicer and the Special Servicer (and such other parties) with respect to the servicing
of the Mortgage Loan in accordance with this Agreement and the

 

    27 

     

    

 

Lead Securitization
Servicing Agreement. Each Noteholder hereby irrevocably appoints the Master Servicer, the Special Servicer and the Trustee in
the Lead Securitization as such Noteholder’s attorney-in-fact to sign any documents reasonably required with respect to
the administration and servicing of the Mortgage Loan on its behalf under the Servicing Agreement (subject at all times to the
rights of such Noteholder set forth herein and in the Servicing Agreement). In no event shall the Servicing Agreement require
the Servicer to enforce the rights of any Noteholder or limit the Servicer in enforcing the rights of one Noteholder against any
other Noteholder; provided, however, that this statement shall not be construed to otherwise limit the rights of
one Noteholder with respect to any other Noteholder. Each Servicer shall be required pursuant to the Servicing Agreement to service
the Mortgage Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, this Agreement, the Servicing
Agreement and applicable law, shall provide information to each Non-Lead Servicer to enable such Non-Lead Servicer to perform
its servicing duties under the related Non-Lead Securitization Servicing Agreement and shall not take any action or refrain from
taking any action or follow any direction inconsistent with the foregoing.

 

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

 

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

 

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

 

(i)           
   if a Servicer Termination Event under the Lead Securitization Servicing Agreement has occurred (A) with respect to the
Master Servicer under the Lead Securitization Servicing Agreement that affects a Noteholder or any class of commercial mortgage
securities backed by a Note or a participation interest in a Note, and the Master Servicer is not otherwise terminated under the
Lead Securitization Servicing Agreement, then the Junior Noteholder or its designees (if the Junior Noteholder is the Controlling
Holder), together with any affected Non-Lead Securitization Noteholder, shall be entitled to direct the Trustee to appoint a sub-servicer
solely with respect to the Mortgage Loan (or if the Mortgage Loan is currently being sub-serviced, to replace the current sub-servicer,
but only if such original sub-servicer is in default under the related sub-servicing

 

    28 

     

    

 

agreement);
and (B) the appointment (or replacement) of a sub-servicer with respect to the Mortgage Loan, as contemplated in clause (A) above,
will in any event be subject to Rating Agency Confirmation in connection with any Securitization;

 

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

 

(iii)           
the Noteholders shall be entitled to receive, and the Master Servicer and the Special Servicer shall provide, any information,
relating to the Mortgage Loan, the Mortgage Loan Borrower or the Mortgaged Property as such Person may reasonably request and
would be customarily in the possession of, or collected or known by, the Master Servicer or the Special Servicer of mortgage loans
similar to the Mortgage Loan and, in any event, all information that is required to be provided to holders of the securities issued
by the Securitization Trust that includes any Non-Lead Securitization Note (including, but not limited to, standard CREFC reports);
provided that, notwithstanding anything to the contrary contained in this Agreement, if an interest in the Junior Note
or the Junior Noteholder is held by any Mortgage Loan Borrower Related Party, then the Junior Noteholder shall not be entitled
to receive the Asset Status Report or any other information relating to the Special Servicer’s workout strategy;

 

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

 

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

 

(e)               Notwithstanding anything to the contrary contained in this Agreement, any obligation of the Servicer pursuant to the terms
hereof shall be performed by the Master Servicer or the Special Servicer, as applicable, as set forth in the Servicing Agreement.

 

(f)          
At any time after the Securitization Date that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization
Servicing Agreement, the Noteholders agree to cause the Mortgage Loan to be serviced pursuant to a servicing agreement that contains
servicing provisions which are substantially similar to the Lead Securitization Servicing Agreement and all references herein
to the “Lead Securitization Servicing Agreement” shall mean such subsequent servicing agreement; provided,
however, that if any Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been obtained
from each Rating Agency with respect to such Securitization; provided, further, however, that until a replacement servicing agreement
has been entered into, the Lead Securitization Noteholder shall cause the Mortgage Loan to be serviced in accordance with the
servicing provisions set forth in the Lead Securitization Servicing Agreement as if such agreement was still in full force and
effect with respect to the Mortgage Loan; provided, further, however, that until a replacement servicing agreement is in place,
the actual servicing of the

 

    29 

     

    

 

Mortgage Loan
may be performed by any Approved Servicer appointed by the Lead Securitization Noteholder and does not have to be performed by
the service providers set forth under the Lead Securitization Servicing Agreement.

 

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

 

In
addition, each Non-Lead Securitization Noteholder (including, but not limited to, any Non-Lead Securitization Trust) shall be
required to, promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse the Lead Securitization
for such Non-Lead Securitization Noteholder’s pro rata share of any fees, costs or expenses incurred in connection
with the servicing and administration of the Mortgage Loan as to which the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee or the Depositor of the Lead Securitization, as applicable, is entitled to be reimbursed pursuant to
the Servicing Agreement and any costs, fees and expenses related to obtaining any Rating Agency Confirmation, to the extent amounts
on deposit in the Whole Loan Custodial Account are insufficient for reimbursement of such amounts. Each Non-Lead Securitization
Noteholder agrees to indemnify (i) (as and to the same extent the Lead Securitization Trust is required to indemnify each of the
following parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of Servicing Agreement)
each of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Securitization Operating

 

    30 

     

    

 

Advisor and
the Depositor of the Lead Securitization (and any director, officer, member, manager, employee or agent of any of the foregoing,
to the extent such parties are identified as indemnified parties in the Servicing Agreement in respect of other mortgage loans)
and (ii) the Lead Securitization Trust (such parties in clause (i) and the Lead Securitization Trust, collectively, the “Indemnified
Parties”) against any claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments and any
other costs, liabilities, fees and expenses incurred in connection with the servicing and administration of the Mortgage Loan
and the Mortgaged Property (or, with respect to the Securitization Operating Advisor, incurred in connection with the provision
of services for the Mortgage Loan) under the Servicing Agreement (collectively, the “Indemnified Items”) to
the extent of its pro rata share of such Indemnified Items, and to the extent amounts on deposit in the Whole Loan Custodial
Account are insufficient for reimbursement of such amounts, such Non-Lead Securitization Noteholder shall be required to, promptly
following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse each of the applicable Indemnified Parties
for their pro rata share of the insufficiency (including, if the related Non-Lead Securitization Note has been included
in a Non-Lead Securitization, from general collections or any other amounts from such Non-Lead Securitization Trust) (it being
understood that the pro rata share payable by each Non-Lead Securitization Noteholder under this paragraph would be determined
by allocating the applicable amounts, as the case may be, first to the Junior Note and then to the Senior Notes, in that order).

 

The
master servicer under a Non-Lead Securitization (each, a “Non-Lead Master Servicer”) may be required to make
P&I Advances on the related Non-Lead Securitization Note, from time to time, subject to the terms of the servicing agreement
for the related Securitization (each, a “Non-Lead Securitization Servicing Agreement”), the Servicing Agreement
and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to make their
own recoverability determination with respect to a P&I Advance to be made on the Lead Securitization Note based on the information
that they have on hand and in accordance with the Servicing Agreement. Each Non-Lead Master Servicer and the special servicer
and the trustee under each Non-Lead Securitization Servicing Agreement (each, respectively, a “Non-Lead Special Servicer”
and a “Non-Lead Trustee”), as applicable, shall be entitled to make their own recoverability determination
with respect to a P&I Advance to be made on the related Non-Lead Securitization Note based on the information that they have
on hand and in accordance with the related Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as
applicable, and each Non-Lead Master Servicer or Non-Lead Trustee shall be required to notify the other of the amount of its P&I
Advance within two Business Days of making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable
(with respect to the Lead Securitization Note) or a Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee, as
applicable (with respect to the related Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would
be non-recoverable or an outstanding P&I Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer
or the Trustee, as applicable, subsequently determines that a proposed Servicing Advance would be non-recoverable or an outstanding
Servicing Advance is or would be non-recoverable, then the Master Servicer or the Trustee (as provided in the Servicing Agreement,
in the case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or a Non-Lead
Master Servicer or Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of the
a determination of non-recoverability by such Non-Lead Master Servicer, Non-Lead Special

 

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Servicer or
Non-Lead Trustee) shall notify the Master Servicer and the Trustee or Non-Lead Master Servicers and the Non-Lead Trustees, as
the case may be, of the other Securitization(s) on or prior to the next “master servicer remittance date” under the
Lead Securitization Servicing Agreement or the related Non-Lead Servicing Agreement, as applicable. Each of the Master Servicer,
the Trustee, the Non-Lead Master Servicers and the Non-Lead Trustees, as applicable, will only be entitled to reimbursement for
a P&I Advance and advance interest thereon that becomes non-recoverable first from the Whole Loan Custodial Account from amounts
allocable to the applicable individual Senior Note for which such P&I Advance was made, and then, if funds are insufficient,
(i) in the case of the Lead Securitization Note, from general collections of the Lead Securitization Trust, pursuant to the terms
of the Servicing Agreement and (ii) in the case of a Non-Lead Securitization Note, from general collections of the related Securitization
Trust, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement (it being understood that the
pro rata share payable by each Non-Lead Securitization Noteholder under this paragraph would be determined by allocating
the applicable amounts, as the case may be, first to the Junior Note and then to the Senior Notes, in that order).

 

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

 

(i)                
the related Non-Lead Securitization Noteholder shall be responsible for its pro rata share of any Servicing Advances
(and advance interest thereon) and any additional trust fund expenses, but only to the extent that they relate to servicing and
administration of the Mortgage Loan and the Mortgaged Property, including without limitation, any unpaid special servicing fees,
liquidation fees and workout fees relating to the Mortgage Loan, and that, in the event that the funds received with respect to
each respective Note are insufficient to cover such Servicing Advances or additional trust fund expenses, (A) the applicable Non-Lead
Master Servicer will be required to, promptly following notice from the Master Servicer or the Special Servicer, pay or reimburse
the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, or the Lead Securitization Trust, as applicable,
out of general funds in the collection account (or equivalent account) established under such Non-Lead Securitization Servicing
Agreement for the related Non-Lead Securitization Noteholder’s pro rata share of any such Nonrecoverable Servicing
Advances (together with advance interest thereon) and/or additional trust fund expenses (including compensation due to the Master
Servicer and the Special Servicer to the extent related to the servicing and administration of the Mortgage Loan and the Mortgaged
Property), and (B) if the Servicing Agreement permits the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee to reimburse itself from the Lead Securitization Trust’s general account, then the Master Servicer, the Special
Servicer, the Certificate Administrator or the Trustee, as applicable, may do so, and the applicable Non-Lead Master Servicer
will be required to, promptly following notice from the Master Servicer, the Special Servicer or the Trustee, reimburse the Lead
Securitization Trust out of general funds in the collection account (or equivalent account) established under such Non-Lead Securitization
Servicing Agreement for the related Non-Lead Securitization Noteholder’s pro rata share of any such Nonrecoverable
Servicing Advances (together with advance interest thereon) and/or additional trust fund expenses (including compensation due
to the Master Servicer and the Special Servicer to

 

    32 

     

    

 

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

 

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

 

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

 

(iv)           
any matter affecting the servicing and administration of the Mortgage Loan that requires delivery of a Rating Agency Confirmation
pursuant to the Lead

 

    33 

     

    

 

Securitization
Servicing Agreement shall also require delivery of a Rating Agency Confirmation under such Non-Lead Securitization Servicing Agreement;
and

 

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

 

(i)    
The Lead Securitization Servicing Agreement shall provide that compensating interest payments as defined therein with respect
to Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 will be allocated by the Master Servicer among Note A-1, Note A-2, Note
A-3, Note A-4 and Note A-5, pro rata, in accordance with their respective Principal Balances. The Master Servicer shall
remit any compensating interest payment in respect of a Non-Lead Securitization Note to the related Non-Lead Securitization Noteholder.

 

Section
3.               
Subordination of Junior Note; Payments Prior to a Sequential Pay Event. The Junior Note and the right of the Junior
Noteholder to receive payments of interest, principal and other amounts with respect to the Junior Note shall at all times be
junior, subject and subordinate to the Senior Notes and the right of the Senior Noteholders to receive payments of interest, principal
and other amounts with respect to the Senior Notes as set forth herein (it being understood that the pro rata share of
any amounts payable by each Non-Lead Securitization Noteholder under Section 2 would be determined by allocating such amounts,
first to the Junior Note and then to the Senior Notes, in that order). If no Sequential Pay Event, as determined by the applicable
Servicer, shall have occurred and be continuing, all amounts tendered by the Mortgage Loan Borrower or otherwise available for
payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds
thereof, whether received in the form of Monthly Payments, Balloon Payment, Liquidation Proceeds, proceeds under any guaranty
or indemnity, letter of credit or other collateral or instrument securing the Mortgage Loan or Insurance and Condemnation Proceeds
(other than proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged Property or released to
the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC Provisions),
but excluding (x) all amounts for reserves or escrows required by the Mortgage Loan Documents to be held as reserves or escrows
or received as reimbursements on account of recoveries in respect of Advances then due and payable or reimbursable to any Servicer
under the Servicing Agreement and (y) all amounts that are then due, payable or reimbursable to any Servicer, Securitization Operating
Advisor, Certificate Administrator, Asset Representations Reviewer or Trustee with respect to the Mortgage Loan pursuant to the
Servicing Agreement, shall be applied by each Senior Noteholder (or its designee) and distributed by the Servicer for payment
in the following order of priority without duplication (and payments shall be made at such times as are set forth in the Servicing
Agreement):

 

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

 

    34 

     

    

 

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

 

(c)               
third, each Senior Noteholder, up to the amount of any unreimbursed costs and expenses paid by such Senior Noteholder,
including any Recovered Costs not previously reimbursed to such Senior Noteholder (or paid or advanced by any Servicer on its
behalf and not previously paid or reimbursed) with respect to the Mortgage Loan pursuant to this Agreement or the Servicing Agreement;

 

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

 

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

 

(f)               
sixth, to the Junior Noteholder in an amount equal to the interest then due and payable under the Mortgage Loan Documents
on the Junior Note Principal Balance at the Net Junior Note Rate;

 

(g)              
seventh, (i) to the Junior Noteholder in an amount equal to the Junior Principal Portion of principal payments received,
if any, with respect to any Monthly Payment Date with respect to the Mortgage Loan, until the Junior Note Principal Balance has
been reduced to zero and (ii) with respect to any Insurance and Condemnation Proceeds payable as principal to the Noteholders
pursuant to this Section 3, the portion of such Insurance and Condemnation Proceeds remaining after distribution to the
Senior Noteholders pursuant to Section 3(c)(ii) above shall be distributed to the Junior Noteholder until the Junior Note
Principal Balance has been reduced to zero;

 

(h)              
eighth, to the Junior Noteholder in an amount equal to any Prepayment Premium payable on the Junior Note to the extent
paid by the Mortgage Loan Borrower;

 

(i)                
ninth, to the extent the Junior Noteholder has made any payments or advances to cure defaults pursuant to Section 11, to
reimburse the Junior Noteholder for all such cure payments;

 

(j)                
tenth, if the proceeds of any foreclosure sale or any liquidation of a Mortgage Loan or Mortgaged Property exceed the amounts
required to be applied in accordance

 

    35 

     

    

 

with the foregoing
clauses (a)-(i) and, as a result of a Workout, the Principal Balance of the Junior Note has been reduced, such excess amount shall
be paid to the Junior Noteholder in an amount up to the reduction, if any, of the Junior Note Principal Balance as a result of
such Workout, plus interest on such amount at the Junior Note Rate;

 

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

 

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

 

Section
4.               
Payments Following a Sequential Pay Event. Payments of interest and principal shall be made to the Noteholders in
accordance with Section 3 of this Agreement; provided that, if a Sequential Pay Event, as determined by the applicable
Servicer and as set forth in the Servicing Agreement, shall have occurred and be continuing, all amounts tendered by the Mortgage
Loan Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged
Property or amounts realized as proceeds thereof (including, without limitation, amounts received by the Master Servicer or Special
Servicer pursuant to the Servicing Agreement as reimbursements on account of recoveries in respect of Advances), whether received
in the form of Monthly Payments, Balloon Payment, Liquidation Proceeds, proceeds under any guaranty or indemnity, letter of credit
or other collateral or instrument securing the Mortgage Loan or Insurance and Condemnation Proceeds (other than proceeds, awards
or settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage Loan Borrower
in accordance with the terms of the Mortgage Loan Documents, to the extent permitted by the REMIC Provisions), but excluding (x)
all amounts for reserves or escrows required by the Mortgage Loan Documents deemed appropriate by the Servicer in accordance with
the Servicing Standard to continue to be held as reserves or escrows or received as reimbursements on account of recoveries in
respect of Advances then due and payable or reimbursable to any Servicer under Servicing Agreement and (y) all amounts that are
then due, payable or reimbursable to any Servicer, Securitization Operating Advisor, Certificate Administrator, Asset Representations
Reviewer or Trustee with respect to this Mortgage Loan pursuant to the Servicing Agreement with respect to the Mortgage Loan,
shall be applied by the Senior Noteholder (or its designee) and distributed by the Servicer for payment in the following order
of priority without duplication (and payments shall be made at such times as are set forth in the Servicing Agreement):

 

(a)               
first, to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the
Note A-5 Holder in an amount equal to the interest then due and

 

    36 

     

    

 

payable under
the Mortgage Loan Documents on the Note A-1 Principal Balance, the Note A-2 Principal Balance, the Note A-3 Principal
Balance, the Note A-4 Principal Balance and the Note A-5 Principal Balance, in each case at the Net Senior Note Rate;

 

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

 

(c)               
third, to any Senior Noteholder, up to the amount of any unreimbursed costs and expenses paid by such Senior Noteholder,
including any Recovered Costs not previously reimbursed to such Senior Noteholder (or paid or advanced by any Servicer on its
behalf and not previously paid or reimbursed) with respect to the Mortgage Loan pursuant to this Agreement or the Servicing Agreement;

 

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

 

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

 

(f)               
sixth, to the Junior Noteholder in an amount equal to the interest then due and payable under the Mortgage Loan Documents
on the Junior Note Principal Balance at the Net Junior Note Rate;

 

(g)              
seventh, to the Junior Noteholder in an amount equal to the Junior Note Principal Balance, until the Junior Note Principal
Balance has been reduced to zero;

 

(h)              
eighth, to the Junior Noteholder in an amount equal to any Prepayment Premium payable on the Junior Note to the extent
paid by the Mortgage Loan Borrower;

 

(i)                
ninth, to the extent the Junior Noteholder has made any payments or advances to cure defaults pursuant to Section 11, to
reimburse the Junior Noteholder for all such cure payments;

 

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

 

(k)              
eleventh, to the extent assumption or transfer fees actually paid by the Mortgage Loan Borrower are not required to be
otherwise applied under the Servicing Agreement, including, without limitation, to provide reimbursement for interest on any

 

    37 

     

    

 

Advances, to
pay any Additional Servicing Expenses or to compensate any Servicer (in each case provided that such reimbursements or payments
relate to the Mortgage Loan or the Mortgaged Property), any such assumption or transfer fees, to the extent actually paid by the
Mortgage Loan Borrower, shall be paid to 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 Junior Noteholder, pro rata, based on their respective Percentage Interests; and

 

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

 

For
clarification purposes, Penalty Charges (as defined in the Lead Securitization Servicing Agreement) paid on the Senior Notes pursuant
to Section 3 or Section 4 hereunder, shall be allocated to each Senior Noteholder on a Pro Rata and Pari Passu Basis
and applied first, to reduce, on a pro rata basis, the amounts payable on the Senior Notes by the amount necessary to pay
the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any Servicing Advances and reimbursement
of any Servicing Advances in accordance with the terms of the Lead Securitization Servicing Agreement, second, to reduce, on a
pro rata basis, the respective amounts payable on Senior Notes by the amount necessary to pay the Master Servicer, Trustee,
Non-Lead Master Servicer or Non-Lead Trustee for any interest accrued on any P&I Advance made with respect to such Notes by
such party (if and as specified in the Lead Securitization Servicing Agreement or any Non-Lead Servicing Agreement, as applicable),
third, to reduce, on a pro rata basis, the amounts payable on the Senior Notes by the amount necessary to pay additional
trust fund expenses (other than Special Servicing Fees, unpaid Workout Fees and Liquidation Fees) incurred with respect to the
Mortgage Loan (as specified in the Lead Securitization Servicing Agreement) and finally, (i) in the case of the remaining amount
of Penalty Charges allocable pursuant to Section 3 or Section 4 hereunder to the Lead Securitization Note, be paid to the Master
Servicer and/or the Special Servicer as additional servicing compensation as provided in the Lead Securitization Servicing Agreement
and (ii) in the case of the remaining amount of Penalty Charges allocable pursuant to Section 3 or Section 4 hereunder to any
Non-Lead Securitization Note, (A) prior to the related Securitization of such Non-Lead Securitization Note, be paid to the related
Non-Lead Securitization Noteholder, or (B) on and after the related Securitization of such Non-Lead Securitization Note, be paid
to the Master Servicer and/or the Special Servicer as additional servicing compensation as provided in the
Lead Securitization Servicing Agreement.

 

Penalty
Charges (as defined in the Lead Securitization Servicing Agreement) paid on the Junior Note pursuant to Section 3 or Section
4 hereunder shall be allocated to the Junior Noteholder and applied first, to reduce the amount payable on the Junior 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, to reduce the amount payable on the Junior Note by the amount necessary to pay the Master Servicer, Trustee, Non-Lead
Master Servicer or Non-Lead Trustee for any interest accrued on any P&I Advance made with respect to the Junior Note by such
party (if and as specified in the Lead Securitization Servicing

 

    38 

     

    

 

Agreement or
any Non-Lead Servicing Agreement, as applicable), third, to reduce the amount payable on the Junior Note by the amount necessary
to pay additional trust fund expenses (other than unpaid special servicing fees, workout fees and liquidation fees) incurred with
respect to the Mortgage Loan (as specified in the Lead Securitization Servicing Agreement) and finally, to the Junior Noteholder.

 

Section
5.               
Administration of the Mortgage Loan.

 

(a)               
Subject to this Agreement (including, without limitation, Section 5(f) below) and the Servicing Agreement, the Lead Securitization
Noteholder (or the Servicer acting on behalf of the Lead Securitization Noteholder) shall have the sole and exclusive authority
with respect to the administration of, and exercise of rights and remedies with respect to, the Mortgage Loan, including, without
limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan Documents or consent to any action or
failure to act by the Mortgage Loan Borrower or any other party to the Mortgage Loan Documents, call or waive any Event of Default,
accelerate the Mortgage Loan or institute any foreclosure action or other remedy and, except as provided in Section 5(f),
the other Noteholders shall not have any voting, consent or other rights whatsoever with respect to the Lead Securitization Noteholder’s
administration of, or exercise of its rights and remedies with respect to, the Mortgage Loan. Subject to this Agreement (including,
without limitation, Section 5(f) below) and the Servicing Agreement, each of the other Noteholders agrees that it shall have no
right to, and hereby presently and irrevocably assigns and conveys to the Lead Securitization Noteholder (or the Servicer acting
on behalf of the Lead Securitization Noteholder) the rights, if any, that the Lead Securitization Noteholder and the other Noteholders
have to, (i) call or cause the Lead Securitization Noteholder to call an Event of Default under the Mortgage Loan, or (ii) exercise
any rights and remedies with respect to the Mortgage Loan or the Mortgage Loan Borrower, including, without limitation, filing
or causing the Lead Securitization Noteholder to file any bankruptcy petition against the Mortgage Loan Borrower. The Lead Securitization
Noteholder (or the Servicer acting on behalf of the Lead Securitization Noteholder) shall not have any fiduciary duty to the other
Noteholders in connection with the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization
Noteholder from the obligation to make any disbursement of funds as set forth herein).

 

Each
Senior Noteholder hereby acknowledges the right and obligation of the Lead Securitization Noteholder (or the Special Servicer
acting on behalf of the Lead Securitization Noteholder), upon the Mortgage Loan becoming a Defaulted Mortgage Loan and the determination
by the Special Servicer to sell the Lead Securitization Note in accordance with the Servicing Agreement, to sell the Non-Lead
Securitization Notes together with the Lead Securitization Note, as notes evidencing the entire senior portion of the Mortgage
Loan in accordance with the terms of the Servicing Agreement. In connection with any such sale, the Special Servicer shall be
required to sell such Notes together as notes evidencing the entire senior portion of the Mortgage Loan and shall require that
all offers be submitted to the Certificate Administrator or the Special Servicer, as applicable, in accordance with the terms
of the Servicing Agreement in writing. The Trustee (based upon an updated Appraisal ordered by the Special Servicer and received
by the Trustee (or ordered by the Trustee if the Special Servicer or any of its Affiliates is an Interested Person)) shall determine
whether any cash offer constitutes a fair price for the Senior Note (in the manner set forth in the Servicing Agreement) if

 

    39 

     

    

 

the
highest offeror is an Interested Person, and any such determination by the Trustee shall be binding upon all parties. Notwithstanding
the foregoing, the Lead Securitization Noteholder (or the Special Servicer acting on behalf of the Lead Securitization Noteholder)
shall not be permitted to sell the Senior Note without the written consent of each Non-Lead Securitization Noteholder (provided
that such consent of a Non-Lead Securitization Noteholder is not required if the related Non-Lead Securitization Note is held
by the Mortgage Loan Borrower or any Affiliate of the Mortgage Loan Borrower) unless the Special Servicer has delivered to each
Non-Lead Securitization Noteholder: (a) at least 15 Business Days prior written notice of any decision to attempt to sell the
Senior Note; (b) at least 10 days prior to the proposed sale date, a copy of each bid package (together with any material amendments
to such bid packages) received by the Special Servicer in connection with any such proposed sale, (c) at least 10 days prior to
the proposed sale date, a copy of the most recent Appraisal for the Mortgaged Property, and any documents in the Servicing File
reasonably requested by a Non-Lead Securitization Noteholder that are material to the price of the Senior Note and (d) until the
sale is completed and a reasonable period of time (but no less time than is afforded to other offerors and the Subordinate Class
Representative (as such term is defined in the Servicing Agreement)) prior to the proposed sale date, all information and other
documents being provided to other offerors and all leases or other documents that are approved by the Master Servicer or the Special
Servicer in connection with the proposed sale; provided, however, that any Non-Lead Securitization Noteholder may
waive any delivery or timing requirements set forth in this sentence only for itself. Subject to the foregoing, each of the Non-Lead
Securitization Noteholders and the Non-Controlling Class Representatives shall be permitted to submit an offer at any sale of
the Senior Note unless such Person is the Mortgage Loan Borrower or an agent or Affiliate of the Mortgage Loan Borrower.

 

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

 

The
authority of the Lead Securitization Noteholder (or the Special Servicer acting on behalf of the Lead Securitization Noteholder)
to sell the Non-Lead Securitization Notes, and the obligations of the Non-Lead Securitization Noteholders to execute and deliver
instruments or deliver the original Non-Lead Securitization Notes upon request of the Lead Securitization Noteholder (or the Special
Servicer acting on behalf of the Lead Securitization Noteholder), shall terminate and cease to be of any further force or effect
upon the date, if any, upon which the Lead Securitization Note is repurchased by the applicable Noteholder from the

 

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related
trust fund established under the Servicing Agreement in connection with a material breach of representation or warranty made by
such Noteholder with respect to the Lead Securitization Note or a material document defect with respect to the documents delivered
by such Noteholder with respect to Lead Securitization Note upon the consummation of the Lead Securitization. The preceding sentence
shall not be construed to grant to any Non-Lead Securitization Noteholder the benefit of any representation or warranty made by
the Noteholder that holds the Lead Securitization Note as of the date hereof or any document delivery obligation imposed on such
Noteholder under any mortgage loan purchase and sale agreement, instrument of transfer or other document or instrument that may
be executed or delivered by such Noteholder in connection with the Lead Securitization.

 

(b)              
The administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement; provided that
to the extent of any conflict between this Agreement and the Servicing Agreement, the terms of this Agreement shall control. The
Noteholders agree to be bound by the terms of the Servicing Agreement. The Lead Securitization Noteholder (or the Servicer on
its behalf) shall service the Mortgage Loan in accordance with the terms of this Agreement, including without limitation the rights
of the Junior Noteholder set forth in Section 5(f) below. After the First Securitization, servicing of the Mortgage Loan shall
generally be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Loan, by the Special Servicer,
in each case pursuant to the Servicing Agreement and this Agreement. Notwithstanding anything to the contrary contained herein,
in accordance with the Servicing Agreement, the Lead Securitization Noteholder shall cause the Master Servicer and the Special
Servicer to service and administer the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests
of the Lead Securitization Noteholder, the Non-Lead Securitization Noteholders and the Junior Noteholder as a collective whole
(it being understood that the interest of the Junior Noteholder is a junior Note interest, subject to the terms and conditions
of this Agreement), and any Non-Lead Securitization Noteholder or Junior Noteholder who is not a Mortgage Loan Borrower Related
Party shall be deemed a third party beneficiary of such provisions of the Servicing Agreement. The foregoing provisions of this
Section 5(b) shall not limit or modify the rights of the Controlling Noteholder and/or the Operating Advisor to exercise
their respective rights specifically set forth under this Agreement.

 

(c)               
Notwithstanding anything to the contrary contained herein, but subject to the terms and conditions of the Servicing Agreement
and this Agreement (including, without limitation, Section 6) if the Servicer (on behalf of the Noteholders) in connection with
a Workout of the Mortgage Loan modifies the terms thereof such that (i) the unpaid principal balance of the Mortgage Loan
is decreased, (ii) the Interest Rate or scheduled amortization payments on such Mortgage Loan are reduced, (iii) payments
of interest or principal on the Mortgage Loan are waived, reduced or deferred, or (iv) any other adjustment (other than an
increase in the Interest Rate or increase in scheduled amortization payments) is made to any of the terms of the Mortgage Loan,
all payments to the Senior Noteholders pursuant to Section 3 and Section 4, as applicable, shall be made as though such
Workout did not occur, with the payment terms of the Senior Notes remaining the same as they are on the date hereof, the Junior
Note shall bear the full economic effect of all waivers, reductions or deferrals of amounts due on the Mortgage Loan attributable
to such Workout (up to the amount otherwise due on the Junior Note). Subject to the Servicing Agreement and this Agreement (including
without limitation Section 5(f) and Section

 

    41 

     

    

 

6),
in the case of any modification or amendment described above, the Servicer (on behalf of the Noteholders) shall have the sole
authority and ability to revise the payment provisions set forth in Section 3 and Section 4 above in a manner that reflects
the subordination of the Junior Note to the Senior Notes with respect to the loss that is the result of such amendment or modification,
including: (A) the ability to increase the Senior Note Percentage Interest and to reduce the Junior Note Percentage Interest
in a manner that reflects a loss in principal as a result of such amendment or modification and (B) the ability to change
the Senior Note Rate and the Junior Note Rate, as applicable, in order to reflect a reduction in the Interest Rate of the Mortgage
Loan, but shall not be permitted to change the order of the clauses set forth in Section 3 and Section 4 hereof. Notwithstanding
the foregoing, if any Workout, modification or amendment of the Mortgage Loan extends the original maturity date of the Mortgage
Loan, for purposes of this paragraph, the Balloon Payment will be deemed not to be due on the original maturity date of the Mortgage
Loan but will be deemed due on the extended maturity date of the Mortgage Loan.

 

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

 

(e)               
For so long as any Senior Note or any portion thereof is included as an asset of a REMIC, any provision of this Agreement
to the contrary notwithstanding: (i) the Mortgage Loan shall be administered such that the Senior Notes and the Junior Note shall
each qualify at all times as (or as interests in) a “qualified mortgage” within the meaning of Section 860G(a)(3)
of the Code, (ii) any real property (and related personal property) acquired by or on behalf of the Senior Noteholders pursuant
to a foreclosure, exercise of a power of sale or delivery of a deed in lieu of foreclosure of the Mortgage or lien on such property
following a default on the Mortgage Loan shall be administered so that the interests of the Noteholders therein shall at all times
qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code and (iii) the Lead Securitization
Noteholder may not modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent from any action of
the Mortgage Loan Borrower, or exercise or refrain from exercising any powers or rights which the Lead Securitization Noteholder
may have under the Mortgage Loan Documents, if any such action would constitute a “significant modification” of the
Mortgage Loan, within the meaning of Section 1.860G 2(b) of the regulations of the United States Department of the Treasury, more
than three (3) months after the earliest startup day of any REMIC which includes any Senior Note or any portion thereof. The Noteholders
agree that the provisions of this Section 5(e) shall be effected by compliance by the Lead Securitization Noteholder or its assignees
with this Agreement or the Servicing Agreement or any other agreement which governs the administration of the Mortgage Loan or
the Lead Securitization Noteholder’s interests therein. All costs and expenses of compliance with this Section 5(e), to
the extent that such costs and expenses relate to administration of a REMIC or to any determination respecting the amount, payment
or avoidance of any tax under the REMIC Provisions or the actual payment of any REMIC tax or expense, shall be borne solely by
the Senior Noteholders on a Pro Rata and Pari Passu Basis.

 

Anything
herein or in the Servicing Agreement to the contrary notwithstanding, in the event that any Senior Note or any portion thereof
is included in a REMIC, neither the Junior Noteholder nor any Noteholder whose Note is not included in such REMIC shall be required
to reimburse the Noteholder whose Note is included in such REMIC or any other Person for

 

    42 

     

    

 

payment
of (i) any taxes imposed on such REMIC, (ii) any costs or expenses relating to the administration of such REMIC or to any determination
respecting the amount, payment or avoidance of any tax under such REMIC or (iii) any advances for any of the foregoing or any
interest thereon or for deficits in other items of disbursement or income resulting from the use of funds for payment of any such
taxes, costs or expenses or advances, nor shall any disbursement or payment otherwise distributable to any other Noteholder be
reduced to offset or make-up any such payment or deficit.

 

(f)               
Except as hereinafter provided, if any consent, modification, amendment or waiver under or other action in respect of the
Mortgage Loan or the Mortgage Loan Documents (whether or not a Servicing Transfer Event has occurred and is continuing) that would
constitute a Major Decision has been requested or proposed, at least ten (10) Business Days prior to taking action with respect
to such Major Decision (or making a determination not to take action with respect to such Major Decision), the Lead Securitization
Noteholder (or the Servicer acting on its behalf) must receive the written consent of the Controlling Noteholder (or its Operating
Advisor) before implementing a decision with respect to such Major Decision. For the avoidance of doubt, except as hereinafter
provided, the Senior Noteholder shall obtain the written consent of the Controlling Noteholder (or its Operating Advisor) for
all Major Decisions.

 

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

 

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

 

Notwithstanding
the foregoing, the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall not follow any advice, consultation,
decision or direction provided by the Controlling Noteholder (or its Operating Advisor) that would require or cause

 

    43 

     

    

 

the
Lead Securitization Noteholder (or the Servicer acting on its behalf) to violate any applicable law (including the REMIC Provisions),
be inconsistent with the Servicing Standard, require or cause the Lead Securitization Noteholder (or the Servicer acting on its
behalf) to violate provisions of this Agreement or the Servicing Agreement, require or cause the Lead Securitization Noteholder
(or the Servicer acting on its behalf) to violate the terms of the Mortgage Loan, or materially expand the scope of any Lead Securitization
Noteholder’s (or the Servicer’s) responsibilities under this Agreement or the Servicing Agreement.

 

(g)  
During the continuation of a Control Appraisal Period, the Lead Securitization Noteholder (or its Controlling Class Representative)
shall have, with respect to the Mortgage Loan, all of the same rights and powers of the Controlling Class Representative under
the Servicing Agreement with respect to the other mortgage loans included in the Lead Securitization, including without limitation,
(i) the right to consent and/or consult regarding Major Decisions and other servicing matters, (ii) the right to advise (A) the
Special Servicer with respect to all Specially Serviced Loans and (B) the Special Servicer with respect to non-Specially Serviced
Loans as to all matters for which the Master Servicer must obtain the consent (or deemed consent) of the Special Servicer, and
(iii) the right to direct the Special Servicer to take, or to refrain from taking, such other actions with respect to the Mortgage
Loan as the Controlling Class Representative may deem advisable or as to which provision is otherwise made therein, in each case
subject to the terms and conditions of the Servicing Agreement.

 

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

 

The
Lead Securitization Noteholder (or the Special Servicer on its behalf) shall be required to consult with each Non-Controlling
Noteholder (or its controlling class representative) on a strictly non-binding basis, to the extent having received such notices,
information and reports, such Non-Controlling Noteholder (or its controlling class representative) requests consultation with
respect to any Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to
the Mortgage Loan, and consider alternative actions recommended by such Non-Controlling Noteholder (or its controlling class representative);
provided that after the expiration of a period of ten (10) Business Days from the delivery to the Non-Controlling Noteholders
(or their respective controlling class representatives) by the Lead Securitization Noteholder (or the Servicer acting on its behalf)
of written notice of a proposed action, together with copies of the notice, information and report required to be provided to
the Controlling Class Representative, the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall no longer
be obligated to consult with the Non-Controlling Noteholders (or their respective controlling class representatives), whether
or

 

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not
the Non-Controlling Noteholders (or their respective controlling class representatives) have responded within such ten (10) Business
Day period (unless, the Lead Securitization Noteholder (or the Servicer acting on its behalf) proposes a new course of action
that is materially different from the action previously proposed, in which case such ten (10) Business Day period shall be deemed
to begin anew from the date of such proposal and delivery of all information relating thereto). Notwithstanding the consultation
rights of the Non-Controlling Noteholders (or their respective controlling class representatives) set forth in the immediately
preceding sentence, the Lead Securitization Noteholder (or Servicer acting on its behalf) may make any Major Decision or take
any action set forth in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period if the
Lead Securitization Noteholder (or Servicer acting on its behalf) reasonably determines in accordance with the Servicing Standard
that failure to take such actions prior to consultation would materially and adversely affect the interests of the Noteholders.
In no event shall the Lead Securitization Noteholder (or Servicer acting on its behalf) be obligated at any time to follow or
take any alternative actions recommended by a Non-Controlling Noteholder (or its controlling class representative).

 

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

 

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

 

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letter
of credit is furnished as Threshold Event Collateral, the applicable Controlling Noteholder shall be required to renew such letter
of credit not later than thirty (30) days prior to expiration thereof or to replace such letter of credit with cash collateral
as described in clause (A) or a new letter of credit that satisfies the requirements set forth in clause (B) with an expiration
date that is greater than forty-five (45) days from the date of such replacement; provided, however, that, if a
letter of credit is not renewed prior to thirty (30) days prior to the expiration date of such letter of credit, the letter of
credit shall provide that the Servicer may (and, at the direction of the applicable Controlling Noteholder, shall) draw upon such
letter of credit and hold the proceeds thereof as Threshold Event Collateral. If a letter of credit is furnished as Threshold
Event Collateral, the applicable Controlling Noteholder shall be required to replace such letter of credit with other Threshold
Event Collateral within 30 days if the credit rating of the issuing entity is downgraded below the applicable required rating;
provided, however, that, if such Threshold Collateral is not so replaced, the Servicer shall draw upon such letter
of credit and hold the proceeds thereof as Threshold Event Collateral. The Threshold Event Cure shall continue until (1) the appraised
value of the Mortgaged Property plus the value of the Threshold Event Collateral would not be sufficient to prevent a Control
Appraisal Period from occurring; or (2) the occurrence of a Final Recovery Determination. If the appraised value of the Mortgaged
Property, upon any redetermination thereof, is sufficient to avoid the occurrence of a Control Appraisal Period without taking
into consideration any, or some portion, of Threshold Event Collateral previously delivered by the Controlling Noteholder, all,
or such portion, of Threshold Event Collateral held by the Servicer (to the extent not required to avoid the occurrence of a Control
Appraisal Period) shall promptly be returned to such Controlling Noteholder (at its sole cost and expense). Upon a Final Recovery
Determination with respect to the Mortgage Loan, such Threshold Event Collateral shall be available to reimburse each Noteholder
for any realized loss pursuant to Section 3 or 4, as applicable, with respect to the Mortgage Loan after application of the net
proceeds of liquidation, not in excess of the Senior Note Principal Balance and the Junior Note Principal Balance, as the case
may be, plus accrued and unpaid interest thereon at the applicable interest rate and all Additional Servicing Expenses reimbursable
under this Agreement and under the Servicing Agreement. Any Threshold Event Collateral shall be treated as an “outside reserve
fund” for purposes of the REMIC Provisions and such property (and the right to reimbursement of any amounts with respect
thereto from a REMIC) shall be beneficially owned by the posting Noteholder who shall be taxed on all income with respect thereto.
The entire amount of Threshold Event Collateral, without a haircut or other reduction, shall be considered in determining the
sufficiency of such Threshold Event Collateral to avoid a Control Appraisal Period.

 

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

 

(j)                
Notwithstanding anything to the contrary contained herein or in the Servicing Agreement, if at any time the Mortgage Loan
Borrower Related Party is a Noteholder (a “Borrower Party Noteholder”), then (i) such Borrower Party Noteholder
shall not have any rights as a Controlling Noteholder or a Controlling Class Representative, (ii) such Borrower Party Noteholder
shall have no right to appoint or terminate the Master Servicer or Special Servicer, (iii) such Borrower Party Noteholder shall
have no right to consult with or advise the Master Servicer or Special Servicer, and shall have no right to review and approve
or comment

 

    46 

     

    

 

on
any Asset Status Report and (iv) in each and every instance where, pursuant to this Agreement or the Servicing Agreement, the
Master Servicer or Special Servicer must take into account the interests of each Noteholder (or words of similar import), such
consideration shall be given to the Borrower Party Noteholder only in its capacity as a holder of the Junior Note, and the Master
Servicer or Special Servicer (as the case may be) shall disregard the fact that the Borrower Party Noteholder is either the Mortgage
Loan Borrower or an Affiliate of the Mortgage Loan Borrower and as such, may have conflicting interests from a Noteholder (in
its capacity as a Noteholder).

 

(k)              
The Lead Securitization Noteholder (or the Master Servicer or Special Servicer on its behalf) shall use commercially reasonable
efforts to cause the Mortgage Loan Borrower to pay fees and expenses as required in the Mortgage Loan Agreement and the other
Mortgage Loan Documents.

 

Section
6.               
Appointment of Operating Advisor.

 

(a)   
The Controlling Noteholder shall have the right at any time to appoint an operating advisor to exercise its rights hereunder
(the “Operating Advisor”). The Controlling Noteholder shall have the right in its sole discretion at any time
and from time to time to remove and replace the Operating Advisor. When exercising its various rights under Section 5 and elsewhere
in this Agreement, the Controlling Noteholder may, at its option, in each case, act through the Operating Advisor. The Operating
Advisor may be any Person, including, without limitation, the Controlling Noteholder, any officer or employee of the Controlling
Noteholder, any Affiliate of the Controlling Noteholder or any other unrelated third party; provided that the Operating
Advisor may not be a Mortgage Loan Borrower Related Party. No Operating Advisor shall owe any fiduciary duty or other duty to
any Person (other than the Controlling Noteholder). All actions that are permitted to be taken by the Controlling Noteholder under
this Agreement may be taken by the Operating Advisor acting on behalf of the Controlling Noteholder and the Lead Securitization
Noteholder (or any Servicer acting on its behalf) will accept such actions of the Operating Advisor as actions of the Controlling
Noteholder. The Lead Securitization Noteholder (or any Servicer on its behalf) shall not be required to recognize any Person as
an Operating Advisor until the Controlling Noteholder has notified the Lead Securitization Noteholder (and any Servicer) of such
appointment and, if the Operating Advisor is not the same Person as the Controlling Noteholder, the Operating Advisor provides
the Lead Securitization Noteholder (and any Servicer) with written confirmation of its acceptance of such appointment, an address
and facsimile number for the delivery of notices and other correspondence and a list of officers or employees of such Person with
whom the parties to this Agreement may deal (including their names, titles, work addresses and facsimile numbers). The Lead Securitization
Noteholder shall promptly deliver such information to any Servicer.

 

(b)              
Neither the Operating Advisor nor the Controlling Noteholder shall have any liability to the other Noteholders or any other
Person for any action taken, or for refraining from the taking of any action or in the giving of any consent or the failure to
give any consent pursuant to this Agreement or the Servicing Agreement, or errors in judgment, absent any loss, liability or expense
incurred by reason of its willful misfeasance, bad faith or gross negligence. The Senior Noteholders and the Junior Noteholder
agree that the Operating Advisor and any Controlling Noteholder (whether acting in place of the Operating Advisor when no Operating

 

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Advisor
shall have been appointed hereunder or otherwise exercising any right, power or privilege granted to the Controlling Noteholder
hereunder) may take or refrain from taking actions that favor the interests of one Noteholder over any other Noteholder, and that
the Operating Advisor may have special relationships and interests that conflict with the interests of a Noteholder and, absent
willful misfeasance, bad faith or gross negligence on the part of the Operating Advisor or such Controlling Noteholder, as the
case may be, agree to take no action against the Operating Advisor, such Controlling Noteholder or any of their respective officers,
directors, employees, principals or agents as a result of such special relationships or interests, and that neither the Operating
Advisor nor such Controlling Noteholder will be deemed to have been negligent or reckless, or to have acted in bad faith or engaged
in willful misfeasance or to have recklessly disregarded any exercise of its rights by reason of its having acted or refrained
from acting solely in the interests of the Senior Noteholders or the Junior Noteholder, as applicable.

 

(c)               
If the Lead Securitization Noteholder is the Controlling Noteholder, the Junior Noteholder acknowledges and agrees (i)
all of the aforementioned rights of the Controlling Noteholder and the Operating Advisor set forth in Section 5(f) and this Section 6
shall be exercisable by the Lead Securitization Noteholder (or the applicable Person specified in the Servicing Agreement) to
the extent set forth in the Servicing Agreement and (ii) the Controlling Class Representative of such Lead Securitization may
exercise all rights with respect to the Mortgage Loan and any decisions or consents or other powers with respect thereto as are
set forth in the Servicing Agreement.

 

If
neither the Lead Securitization Noteholder nor the Junior Noteholder is the Controlling Noteholder, the Junior Noteholder acknowledges
and agrees all of the aforementioned rights of the Controlling Noteholder and the Operating Advisor set forth in Section 5(f)
and this Section 6 shall be exercisable by the Senior Noteholder that is the then Controlling Noteholder pursuant to the
definition of “Controlling Noteholder” in this Agreement.

 

Section
7.               
Special Servicer. The Controlling Noteholder (or its Operating Advisor), at its expense (including, without limitation,
the reasonable costs and expenses of counsel to any third parties and costs and expenses of the terminated Special Servicer),
shall have the right to appoint the Special Servicer with respect to the Mortgage Loan. The Controlling Noteholder (or its Operating
Advisor) shall be entitled to terminate the rights and obligations of the Special Servicer under the Lead Securitization Servicing
Agreement, with or without cause, upon at least ten (10) Business Days’ prior notice to the Special Servicer (provided,
however, that the Controlling Noteholder and its Operating Advisor shall not be liable for any termination or similar fee
in connection with the removal of the Special Servicer in accordance with this Section 7); such termination not be effective unless
and until: (A) each Rating Agency delivers Rating Agency Confirmation (to the extent the Mortgage Loan or any portion thereof
has been securitized); (B) the applicable successor Special Servicer has assumed in writing all of the responsibilities,
duties and liabilities of the Special Servicer under the Lead Securitization Servicing Agreement from and after the date it becomes
the Special Servicer as they relate to the Mortgage Loan pursuant to an assumption agreement reasonably satisfactory to the Trustee;
and (C) the Trustee shall have received an opinion of counsel reasonably satisfactory to the Trustee to the effect that (x) the
designation of such replacement to serve as Special Servicer is in compliance with the Servicing Agreement, (y) such replacement
will be bound by

 

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the
terms of the Lead Securitization Servicing Agreement with respect to such Mortgage Loan and (z) subject to customary qualifications
and exceptions, the applicable servicing agreement will be enforceable against such replacement in accordance with its terms.
The Lead Securitization Noteholder (or the Servicer on its behalf) shall promptly provide copies to any terminated Special Servicer
of the documents referred to in the preceding sentence.

 

If
a Servicer Termination Event on the part of the Special Servicer has occurred that affects a Non-Controlling Noteholder, such
Non-Controlling Noteholder shall have the right to direct the Trustee (or, at any time that neither the Mortgage Loan nor any
portion thereof is included in a Securitization Trust, the Controlling Noteholder) to terminate the Special Servicer under the
Lead Securitization Servicing Agreement (or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead
Securitization Servicing Agreement, the successor servicing agreement pursuant to which the Mortgage Loan is being serviced) solely
with respect to the Mortgage Loan pursuant to and in accordance with the terms of the Lead Securitization Servicing Agreement
(or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement,
the successor servicing agreement pursuant to which the Mortgage Loan is being serviced). The Controlling Noteholder shall be
entitled to appoint a replacement Special Servicer in connection with a termination of the Special Servicer at the direction of
a Non-Controlling Noteholder, subject to the satisfaction of the requirements of the Lead Securitization Servicing Agreement and
this Agreement. The Noteholders acknowledge and agree that any successor special servicer appointed to replace the Special Servicer
with respect to the Mortgage Loan that was terminated for cause at a Non-Controlling Noteholder’s direction cannot at any
time be the Person (or an Affiliate thereof) that was so terminated without the prior written consent of such Non-Controlling
Noteholder. The Non-Controlling Noteholder that directs the Trustee (or, at any time that neither the Mortgage Loan nor any portion
thereof is included in a Securitization Trust, the Controlling Noteholder) to terminate the Special Servicer shall be solely responsible
for reimbursing the Trustee’s or the Controlling Noteholder’s, as applicable, costs and expenses, if not paid within
a reasonable time by the terminated Special Servicer and, in the case of the Trustee, that would otherwise be reimbursed to the
Trustee from amounts on deposit in the Collection Account under the Lead Securitization Servicing Agreement.

 

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

 

The
Controlling Noteholder agrees and acknowledges that the Lead Securitization Servicing Agreement may contain provisions such that
any Special Servicer could be terminated under the Lead Securitization Servicing Agreement based on a recommendation by the Securitization
Operating Advisor if (A) the Securitization Operating Advisor determines, in its sole discretion exercised in good faith, that
(1) the Special Servicer has failed to comply with the Servicing Standard and (2) a replacement of the Special Servicer would
be in the best interest of the holders of securities issued under the Lead Securitization Servicing Agreement (as a collective
whole) and (B) an affirmative vote of requisite certificate holders is obtained. The Controlling Noteholder will retain its right
to remove and replace the Special Servicer, but the Controlling Noteholder may not restore a Special Servicer that has been removed
in accordance with the preceding sentence.

 

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Section
8.               
Payment Procedure.

 

(a)               
The Lead Securitization Noteholder (or the Servicer on its behalf), in accordance with the priorities set forth in Section
3 or 4, as applicable, and subject to the terms of the Servicing Agreement, shall deposit or cause to be deposited all payments
allocable to the Notes to the Collection Account for the Notes established pursuant to the Servicing Agreement. The Lead Securitization
Noteholder (or the Servicer acting on its behalf) shall deposit such amounts to the applicable account on the Business Day next
following the date such payment was received by the Lead Securitization Noteholder (or the Servicer acting on its behalf) from
or on behalf of the Mortgage Loan Borrower.

 

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

 

(c)               
If, for any reason, the Lead Securitization Noteholder (or the Servicer on its behalf) makes any payment to any other Noteholder
before the Lead Securitization Noteholder (or the Servicer on its behalf) has received the corresponding payment (it being understood
that the Lead Securitization Noteholder (or the Servicer on its behalf) is under no obligation to do so), and the Lead Securitization
Noteholder (or the Servicer on its behalf) does not receive the corresponding payment within three (3) Business Days of its payment
to such other Noteholder, such other Noteholder will, at the Lead Securitization Noteholder’s (or the Servicer’s on
its behalf) request, promptly return that payment to the Lead Securitization Noteholder (or the Servicer on its behalf).

 

(d)              
Each Noteholder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage
Loan in excess of its distributable share thereof, it will promptly remit such excess to the Lead Securitization Noteholder (or
the Servicer on its behalf), who shall allocate such excess in accordance with this Agreement and the Servicing Agreement. The
Lead Securitization Noteholder (or the Servicer on its behalf) shall have the right to offset any amounts due hereunder from any
Noteholder with respect to the Mortgage Loan against any future payments due to such Noteholder under the Mortgage Loan in accordance
with this Agreement and the Servicing Agreement; provided that the obligations of any Noteholder under this Section 8 are
separate and distinct obligations from the obligations of

 

    50 

     

    

 

any
other Noteholder under this Section 8 and in no event shall the Lead Securitization Noteholder (or the Servicer on its behalf)
enforce the obligations of any Noteholder under this Section 8 against any other Noteholder. The Noteholders’ obligations
under this Section 8 constitute absolute, unconditional and continuing obligations.

 

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

 

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

 

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

 

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Section
10.               
Bankruptcy. Subject to the provisions of Section 5(f) hereof, each of the Non-Lead Securitization Noteholders and
the Junior Noteholder hereby covenants and agrees that only the Lead Securitization Noteholder (or the Servicer on its behalf)
has the right to institute, file, commence, acquiesce, petition under Bankruptcy Code Section 303 or otherwise or join any Person
in any such petition or otherwise invoke or cause any other Person to invoke an Insolvency Proceeding with respect to or against
the Mortgage Loan Borrower or seek to appoint a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar
official with respect to the Mortgage Loan Borrower or all or any part of its property or assets or ordering the winding-up or
liquidation of the affairs of the Mortgage Loan Borrower. Subject to the provisions of Section 5(f) hereof, each of the Non-Lead
Securitization Noteholders and the Junior Noteholder further agrees that only the Lead Securitization Noteholder, as a creditor,
can make any election, give any consent, commence any action or file any motion, claim, obligation, notice or application or take
any other action in any case by or against the Mortgage Loan Borrower under the Bankruptcy Code or in any other Insolvency Proceeding.
Each of the Non-Lead Securitization Noteholders and the Junior Noteholder hereby appoints the Lead Securitization Noteholder as
its agent, and grants to the Lead Securitization Noteholder an irrevocable power of attorney coupled with an interest, and its
proxy, for the purpose of exercising any and all rights and taking any and all actions available to any Non-Lead Securitization
Noteholder or the Junior Noteholder in connection with any case by or against the Mortgage Loan Borrower under the Bankruptcy
Code or in any other Insolvency Proceeding, including, without limitation, the right to file and/or prosecute any claim, to vote
to accept or reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage Loan,
and to file a motion to modify, lift or terminate the automatic stay with respect to the Mortgage Loan. Each of the Non-Lead Securitization
Noteholders and the Junior Noteholder, in its capacity as such, hereby agrees that, upon the request of the Lead Securitization
Noteholder, such Noteholder shall execute, acknowledge and deliver to the Lead Securitization Noteholder all and every such further
deeds, conveyances and instruments as the Lead Securitization Noteholder may reasonably request for the better assuring and evidencing
of the foregoing appointment and grant. All actions taken by the Servicer in connection with any Insolvency Proceeding are subject
to and must be in accordance with the Servicing Standard.

 

Section
11.           
Cure Rights of Controlling Noteholder.

 

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

 

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Monetary
Default. The Junior Noteholder (while it is the Controlling Noteholder) or its Operating Advisor (while the Junior Noteholder
is the Controlling Noteholder) shall have the right, but not the obligation, to cure such Monetary Default after receiving the
first Monetary Default Notice and until the period ending five (5) Business Days after receiving the second Monetary Default Notice
(the “Cure Period”) and at no other times. At the time a payment is made to cure a Monetary Default as permitted
hereunder, the Junior Noteholder (or its Operating Advisor) shall pay or reimburse the Lead Securitization Noteholder for all
unreimbursed Advances (whether or not recoverable with respect to the Lead Securitization Note or any Non-Lead Securitization
Note, including principal and interest advances made with respect to such Non-Lead Securitization Note under the related Non-Lead
Securitization Servicing Agreement), Advance Interest Amounts, any unpaid fees to any Servicer or Non-Lead Servicer specifically
provided for in the Lead Securitization Servicing Agreement and any Additional Servicing Expenses. At any time (while the Junior
Noteholder is the Controlling Noteholder) the Junior Noteholder or its Operating Advisor believes that a Monetary Default has
occurred, the Junior Noteholder and its Operating Advisor shall have the right (i) to send a written notice to the Servicer requesting
written confirmation as to whether a Monetary Default has occurred and is continuing and, if the Servicer provides any such written
confirmation indicating that a Monetary Default has occurred and is continuing, the Junior Noteholder or its Operating Advisor
may proceed with exercising its cure rights as set forth herein, and (ii) pending its receipt of any written confirmation described
in the foregoing clause (i), to tender a cure payment to the Servicer in the amount it reasonably believes necessary
to cure such potential Monetary Default, which cure payment shall either be (A) in the event a Monetary Default has occurred,
retained and applied to the cure of such Monetary Default in accordance with the terms hereof, or (B) in the event that no Monetary
Default has occurred, returned by the Servicer to the Junior Noteholder or its Operating Advisor, as applicable. If the amount
of a cure payment tendered by the Junior Noteholder or its Operating Advisor in accordance with this Section 11(a) is less than
the amount necessary to effect a cure of a Monetary Default, such payment shall not effect a cure, but the Junior Noteholder or
its Operating Advisor may effect a cure if it pays any deficiency within the applicable Cure Period in accordance with this Section
11(a). If the amount of a cure payment tendered by the Junior Noteholder or its Operating Advisor exceeds the amount necessary
to effect a cure, the Servicer shall return such excess to the Junior Noteholder or its Operating Advisor, as applicable. The
Junior Noteholder or its Operating Advisor (to the extent it is permitted to effect a cure hereunder) shall not be required, in
order to effect a cure hereunder, to pay any default interest or late charges under the Mortgage Loan Documents. So long as a
Monetary Default exists for which a cure payment permitted hereunder is timely made, such Monetary Default shall not be treated
as an Event of Default by the Lead Securitization Noteholder (or any Servicer on its behalf) (including for purposes of (1) the
definition of “Sequential Pay Event,” (2) accelerating the Mortgage Loan, modifying, amending or waiving any provisions
of the Mortgage Loan Documents or commencing proceedings for foreclosure or the taking of title by deed-in-lieu of foreclosure
or other similar legal proceedings with respect to the Mortgaged Property; or (3) treating the Mortgage Loan as a Specially Serviced
Loan); provided that such limitation shall not prevent the Lead Securitization Noteholder (or any Servicer on its behalf)
from collecting default interest or late charges from the Mortgage Loan Borrower. Any amounts advanced by the Junior Noteholder
or its Operating Advisor (to the extent permitted hereunder) to effect any cure shall be reimbursable to the Junior Noteholder
under Section 3 or 4, as applicable.

 

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

 

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

 

(d)  
If an Event of Default (other than a Monetary Default) occurs and is continuing under the Mortgage Loan Documents (a “Non-Monetary
Default”), the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall promptly provide notice to
the Junior Noteholder (while it is the Controlling Noteholder) and the Operating Advisor (while the Junior Noteholder is the Controlling
Noteholder) of such failure (a “Non-Monetary Default Notice”) and the Junior Noteholder (while it is the Controlling
Noteholder) and the Operating Advisor (while the Junior Noteholder is the Controlling Noteholder) shall have the right, but not
the obligation, to cure such Non-Monetary Default within the same period of time as the Mortgage Loan Borrower under the Mortgage
Loan Documents, without regard for the date of receipt by the Junior Noteholder (while it is the Controlling Noteholder) or the
Operating Advisor (while the Junior Noteholder is the Controlling Noteholder) of the related Non-Monetary Default Notice, or in
any event, up to forty (40) days, to cure such Non-Monetary Default; provided, however, if such Non-Monetary Default
is susceptible of cure but cannot reasonably be cured within such period and if curative action was promptly commenced and is
being diligently pursued by the Junior Noteholder (while it is the Controlling Noteholder) or the Operating Advisor (while the
Junior Noteholder is the Controlling Noteholder), the Junior Noteholder (while it is the Controlling Noteholder) or the Operating
Advisor (while the Junior Noteholder is the Controlling Noteholder) shall be given an additional period of time as is reasonably
necessary to enable the Junior Noteholder (while it is the Controlling Noteholder) or the Operating Advisor (while the Junior
Noteholder is the Controlling Noteholder), in the exercise of due diligence, to cure such Non-Monetary Default for so long as
(i) the Junior Noteholder (while it is the Controlling Noteholder) or the Operating Advisor (while the Junior Noteholder is the
Controlling Noteholder) diligently and expeditiously proceeds to cure such Non-Monetary Default, (ii) the Junior Noteholder (while
it is the Controlling Noteholder) or the Operating Advisor (while the Junior Noteholder is the Controlling Noteholder) makes all
cure payments that it is permitted to make in accordance with the terms and provisions of Section 11(a) hereof, (iii) such additional
period of time does not exceed ninety (90) days, (iv) such Non-

 

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Monetary
Default is not caused by an Insolvency Proceeding and, during such period of time that the Junior Noteholder (while it is the
Controlling Noteholder) or the Operating Advisor (while the Junior Noteholder is the Controlling Noteholder) has to cure a Non-Monetary
Default in accordance with this Section 11(d) (the “Non-Monetary Default Cure Period”), an Insolvency Proceeding
does not occur and (v) during the applicable Non-Monetary Default Cure Period, there is no material adverse effect on the Mortgage
Loan Borrower or the Mortgaged Property or the value of the Mortgage Loan as a result of such Non-Monetary Default or the attempted
cure. The applicable Non-Monetary Default Notice shall contain a statement in boldface font that the Junior Noteholder’s
(while it is the Controlling Noteholder) or the Operating Advisor’s (while the Junior Noteholder is the Controlling Noteholder)
failure to cure the related Non-Monetary Default within the applicable Non-Monetary Default Cure Period after receiving such notice
will result in the termination of the right to cure such Non-Monetary Default. The Junior Noteholder (while it is the Controlling
Noteholder) and the Operating Advisor (while the Junior Noteholder is the Controlling Noteholder) shall not contact the Mortgage
Loan Borrower in order to effect any cures under Section 11(a) or this Section 11(d) unless it is in conjunction with the Special
Servicer or the Junior Noteholder (while it is the Controlling Noteholder) or the Operating Advisor (while the Junior Noteholder
is the Controlling Noteholder) has obtained the prior written consent of the Lead Securitization Noteholder (or the Servicer on
its behalf).

 

Section
12.           
Purchase of Senior Notes By Junior Noteholder. The Junior Noteholders shall have the right, by written notice to
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
(a “Noteholder Purchase Notice”), delivered at any time an Event of Default under the Mortgage Loan has occurred
and is continuing, to purchase, in immediately available funds, Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 in whole but
not in part at the applicable Defaulted Mortgage Loan Purchase Price. For the avoidance of doubt, if the Junior Noteholder elects
to exercise its right to purchase a Note pursuant to this Section 12, it must purchase each of Note A-1, Note A-2, Note A-3,
Note A-4 and Note A-5. Upon the delivery of the Noteholder Purchase Notice to 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, such Noteholders shall sell (and the Junior Noteholder
shall purchase) Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 for an aggregate amount equal to the applicable Defaulted
Mortgage Loan Purchase Price, on a date (the “Defaulted Note Purchase Date”) not less than ten (10) and not
more than thirty (30) days after the date of receipt of the related Noteholder Purchase Notice, as shall be established by the
Lead Securitization Noteholder. The Noteholder Purchase Notice shall contain a statement in boldface font that the Junior Noteholder’s
failure to purchase Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 on the applicable Defaulted Note Purchase Date will result
in the termination of such right. The Junior Noteholder agrees that the sale of Note A-1, Note A-2, Note A-3, Note A-4 and Note
A-5 shall comply with all requirements of the Servicing Agreement and that all costs and expenses related thereto shall be paid
by the Junior Noteholder. The Defaulted Mortgage Loan Purchase Price shall be calculated by the Lead Securitization Noteholder
(or the Servicer on its behalf) three (3) Business Days prior to the Defaulted Note Purchase Date (and such calculation shall
be accompanied by a listing of all amounts included in the Defaulted Mortgage Loan Purchase Price), and shall, absent manifest
error, be binding upon the Junior Noteholder. Concurrently with the payment to 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 in immediately available funds of its respective
portion of the applicable Defaulted Mortgage Loan Purchase Price, each of the Note A-1 Holder,

 

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the
Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder will execute, at the sole
cost and expense of the Junior Noteholder, in favor of the Junior Noteholder assignment documentation which will assign Note A-1,
Note A-2, Note A-3, Note A-4 or Note A-5, as applicable, and the other Mortgage Loan Documents without recourse, representations
or warranties (except that the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder
or the Note A-5 Holder, as applicable, shall represent and warrant that it had good and marketable title to, was the sole
owner and holder of, and had power and authority to deliver Note A-1, Note A-2, Note A-3, Note A-4 or Note A-5, as applicable,
free and clear of all liens and encumbrances (other than the interest of the other Noteholders pursuant to this Agreement)). The
right of the Junior Noteholder to purchase Note A-1, Note A-2, Note A-3, Note A-4 and Note A-5 shall automatically terminate upon
a foreclosure sale, sale by power of sale or delivery of a deed in lieu of foreclosure with respect to the Mortgaged Property
(and the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall give the Junior Noteholder ten (10) days’
notice of its intent with respect to such action). Notwithstanding the foregoing sentence, if title to the Mortgaged Property
is transferred to the Servicer (or other nominee on behalf of the Noteholders) less than ten (10) days after the acceleration
of the Mortgage Loan, the Lead Securitization Noteholder (or the Servicer acting on its behalf) shall notify the Junior Noteholder
of such transfer and the Junior Noteholder shall have fifteen (15) days from the date of such notice from the Lead Securitization
Noteholder (or the Servicer acting on its behalf) to deliver the Noteholder Purchase Notice to the 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, in which case the Junior Noteholder will
be obligated to purchase the Mortgaged Property, in immediately available funds, within such fifteen (15) days’ at
the applicable Defaulted Mortgage Loan Purchase Price.

 

Section
13.           
Representations of Junior Noteholder. The Junior Noteholder represents, and it is specifically understood and agreed,
that it is acquiring its Junior Note for its own account in the ordinary course of its business and 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 shall otherwise have
no liability or responsibility to the Junior Noteholder except as expressly provided herein or for actions that are taken or omitted
to be taken by the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder or the Note A-5
Holder, as applicable, that constitute gross negligence or willful misconduct or that constitute a breach of this Agreement. The
Junior Noteholder represents and warrants that the execution, delivery and performance of this Agreement is within its corporate
powers, has been duly authorized by all necessary corporate action, and does not contravene its charter or any law or contractual
restriction binding upon the Junior Noteholder, and that this Agreement is the legal, valid and binding obligation of the Junior
Noteholder enforceable against the Junior Noteholder in accordance with its terms, except as such enforcement may be limited by
bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights
generally, and by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity
or at law), and except that the enforcement of rights with respect to indemnification and contribution obligations may be limited
by applicable law. The Junior Noteholder represents and warrants that it is duly organized, validly existing, in good standing
and possesses of all licenses and authorizations necessary to carry on its business. The Junior Noteholder represents and warrants
that (a) this Agreement has been duly executed and delivered by the Junior Noteholder, (b) to the Junior Noteholder’s actual
knowledge, all consents, approvals, authorizations, orders or

 

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filings
of or with any court or governmental agency or body, if any, required for the execution, delivery and performance of this Agreement
by the Junior Noteholder have been obtained or made and (c) to the Junior Noteholder’s actual knowledge, there is no pending
action, suit or proceeding, arbitration or governmental investigation against the Junior Noteholder, an adverse outcome of which
would materially and adversely affect its performance under this Agreement.

 

The
Junior Noteholder acknowledges that none of the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the
Note A-4 Holder or the Note A-5 Holder owes the Junior Noteholder any fiduciary duty with respect to any action taken
under the Mortgage Loan Documents and, except as provided herein, need not consult with the Junior Noteholder with respect to
any action taken by the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder or
the Note A-5 Holder in connection with the Mortgage Loan.

 

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

 

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

 

Section
15.           
Independent Analysis of the Junior Noteholder and the Senior Noteholders. The Junior Noteholder acknowledges that
it has, independently and without reliance upon any Senior Noteholder, except with respect to the representations and warranties
provided by the Senior Noteholders herein, and based on such documents and information as it has deemed appropriate, made its
own credit analysis and decision to originate the Junior Note and the Junior Noteholder accepts responsibility therefor. The Junior
Noteholder hereby acknowledges that, other than the representations and warranties provided herein, the Senior Noteholders have
made no representations or warranties with respect to the Mortgage Loan, and that the Senior Noteholders shall have no responsibility
for (i) the collectibility of the Mortgage Loan, (ii) the validity, enforceability or legal effect of any of the Mortgage Loan
Documents or the title insurance policy or policies or any survey furnished or to be furnished to the Noteholders

 

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in
connection with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of the lien created or
to be created by the Mortgage Loan Documents, or (iv) the financial condition of the Mortgage Loan Borrower, the Guarantor or
any of their Affiliates. The Junior Noteholder assumes all risk of loss in connection with the Junior Note except as specifically
set forth herein.

 

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

 

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

 

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

 

Section
18.           
Other Business Activities of the Noteholders. The Junior Noteholder acknowledges that any Senior Noteholder or its
Affiliates may make loans or otherwise extend credit to, and generally engage in any kind of business with, the Mortgage Loan
Borrower or any direct or indirect parent or Affiliate thereof, any property manager, or any Person that is a holder of a preferred
equity interest in the Mortgage Loan Borrower, any principal thereof or any Affiliate thereof (the Mortgage Loan Borrower
and such other Persons, each, a “Mortgage Loan Borrower Related Party”), and receive payments on such
other loans or extensions of credit to the Mortgage Loan Borrower or such other Persons and otherwise act with respect thereto
freely and without accountability in the same manner as if this Agreement and the transactions contemplated hereby were not in
effect.

 

Section
19.           
Sale of the Junior Note and the Senior Note.

 

(a)   
The Junior Noteholder agrees that it will not Transfer the Junior Note or any portion thereof or interest therein without
the Senior Noteholders’ prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed,
provided, that (i) the Junior

 

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

 

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

 

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foreclosure
or otherwise, such Note Pledgee executes an assumption agreement pursuant to which such Note Pledgee shall be bound by the
terms and provisions of this Agreement and the obligations of the Junior Noteholder hereunder) and (ii) agree in writing
to be bound by the Servicing Agreement, unless the Servicing Agreement is not then in effect with respect to the Mortgage
Loan, in which event the parties will enter into or agree to be bound by any replacement servicing agreement therefor in
accordance with the provisions hereof. Upon the consummation of a Transfer of the Junior Note or any portion thereof or
interest therein in accordance with this Agreement, the transferring Person shall be released from all liability under this
Agreement with respect to the Junior Note (or the portion thereof or interest therein that was the subject of such Transfer)
accruing after the effective date and time of such Transfer (it being understood and agreed that the foregoing release shall
not apply in the case of a Transfer of a participation interest in the Junior Note as described in Section 19(c) below). If
the Junior Note is directly held by more than one Person at any time (whether as of the date hereof or upon any Transfer of a
portion of (or a partial interest in) the Junior Note in accordance with Section 19(a) or Section 19(b)), the Person(s)
directly holding a majority of the Junior Note Principal Balance shall appoint a representative of the Junior Noteholders (a
“Junior Noteholder Representative”) and deliver a written notice thereof to 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 (which notice shall
provide the name, mailing address, email address, telephone number and facsimile number of the applicable Junior Noteholder
Representative) (it being understood and agreed that the Note A-1 Holder, the Note A-2 Holder, the Note A-3
Holder, the Note A-4 Holder or the Note A-5 Holder shall be entitled to rely upon such notice without independent
investigation). The Junior Noteholder Representative shall have the sole right to receive any notices and other
communications which are required to be given (or which may be given) to the Junior Noteholder under this Agreement and shall
be the only Person authorized hereunder to exercise the rights and powers of the Junior Noteholder under this Agreement
(including, without limitation, any rights or powers of the Junior Noteholder under Section 5); provided, however,
that the Persons directly holding a majority of the Junior Note Principal Balance may from time to time designate a
different Person as the Junior Noteholder Representative by delivering a written notice thereof to 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 (which notice shall
provide the name, mailing address, email address, telephone number and facsimile number of such replacement Junior Noteholder
Representative) (it being understood and agreed that 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 shall be entitled to rely upon such notice without independent
investigation). Notwithstanding anything to the contrary contained herein, each Person holding an interest in the Junior Note
shall be deemed to be a Junior Noteholder for purposes of the rights and restrictions contained in Section 19(a)
and this Section 19(b), and shall be subject to the rights and restrictions thereof with respect to such
Person’s interest in the Junior Note.

 

(c)               
In the case of a Transfer of a participation interest in a Note, (i) the related Noteholder’s obligations under
this Agreement shall remain unchanged, (ii) such Noteholder shall remain solely responsible for the performance of such obligations,
(iii) each other Noteholder and any Persons acting on its behalf shall continue to deal solely and directly with such Noteholder
in connection with such Noteholder’s rights and obligations under this Agreement and the Servicing Agreement, and (iv) all
amounts payable hereunder shall be determined as if such Noteholder had not sold, assigned, transferred or otherwise disposed
of

 

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such
participation interest; provided, however, that if the applicable participant is a Qualified Institutional Lender
(and such Qualified Institutional Lender delivers a representation to the other Noteholders certifying and confirming its status
as a Qualified Institutional Lender), such Noteholder, by written notice to the other Noteholders, may delegate to such participant
its right (if any) to exercise the rights of the Controlling Noteholder hereunder and under the Servicing Agreement; provided,
further, however, that upon the occurrence of a Control Appraisal Period with respect to the Junior Note (including
a Control Appraisal Period that is deemed to have occurred as a result of any Mortgage Loan Borrower Related Party holding an
interest in the Junior Note or the existence of any circumstances that would otherwise permit any Mortgage Loan Borrower Related
Party to exercise the rights of the Junior Noteholder as Controlling Noteholder), the aforesaid delegation of rights shall terminate
and be of no further force and effect.

 

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

 

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Servicing
Agreement, (iii) a transfer by the Special Servicer, in accordance with the terms of the Lead Securitization Servicing Agreement,
of the Senior Notes or the Mortgaged Properties upon the Mortgage Loan becoming a Defaulted Mortgage Loan (pursuant to the terms
of the Lead Securitization Agreement) or (iv) any issuance of certificates in connection with any Securitization or any purchase
or sale of such certificates.

 

(e)               
Notwithstanding any other provision hereof, any Noteholder may pledge (a “Pledge”) its Note to any entity
(other than the Mortgage Loan Borrower or any Affiliate thereof) which has extended a credit or repurchase facility to such Noteholder
and that is either a Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated at least
“A” (or the equivalent) or better by each Rating Agency (a “Note Pledgee”), on terms and conditions
set forth in this Section 19(e), it being further agreed that a financing provided by a Note Pledgee to a Noteholder or any
Person which Controls such Noteholder that is secured by such Noteholder’s interest in the applicable Note and is structured
as a repurchase arrangement, shall qualify as a “Pledge” hereunder, provided that (i) a Note Pledgee which
is not a Qualified Institutional Lender may not take title to the pledged Note without (A) prior to a Securitization, the
consent of each other Noteholder and (B) after a Securitization, a Rating Agency Confirmation and (ii) a Note Pledgee which
is a Prohibited Entity may not take title to the pledged Note or more than a 49% interest in the pledged Note. Upon written notice
by the pledging Noteholder to the other Noteholders and any Servicer that a Pledge has been effected (which notice shall provide
the name, mailing address, email address, telephone number and facsimile number of the applicable Note Pledgee), each of the other
Noteholders agrees to acknowledge receipt of such notice and thereafter agrees: (1) to give the applicable Note Pledgee written
notice of any default by the pledging Noteholder in respect of its obligations under this Agreement of which default such Noteholder
has actual knowledge; (2) to allow such Note Pledgee a period of ten (10) days to cure a default by the pledging Noteholder
in respect of its obligations to the other Noteholder hereunder, but such Note Pledgee shall not be obligated to cure any such
default; (3) that no amendment or modification of this Agreement which adversely affects the rights or obligations of the
pledging Noteholder, and no waiver or termination of this Agreement, shall be effective against such Note Pledgee without the
written consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed; (4) that,
if applicable, such other Noteholder shall give to such Note Pledgee copies of any Monetary Default Notice or Non-Monetary Default
Notice simultaneously with the giving of same to the pledging Noteholder and accept any cure of the applicable Event of Default
by such Note Pledgee in accordance with the provisions of Section 11 which such pledging Noteholder has the right (but not the
obligation) to effect in accordance with the provisions of Section 11, as if such cure were made by such pledging Noteholder;
(5) that such other Noteholder shall deliver to such Note Pledgee such estoppel certificate(s) as such Note Pledgee shall
reasonably request, provided that any such estoppel certificate(s) shall be in a form reasonably satisfactory to such other
Noteholder; and (6) that, upon written notice (a “Redirection Notice”) to the other Noteholders and any
Servicer by such Note Pledgee that the pledging Noteholder is in default, beyond any applicable cure periods, under the pledging
Noteholder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging Noteholder
and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Noteholder), and until such Redirection
Notice is withdrawn or rescinded in writing by such Note Pledgee, such Note Pledgee shall be entitled to receive any payments
that any other Noteholder or Servicer would otherwise be obligated to pay to the pledging Noteholder from time to time pursuant
to

 

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this
Agreement or the Servicing Agreement. Any pledging Noteholder hereby unconditionally and absolutely releases the other Noteholders
and any Servicer from any liability to such pledging Noteholder on account of any other Noteholder’s or Servicer’s
compliance with any Redirection Notice believed (without any duty of inquiry of any kind) by any such other Noteholder or any
Servicer to have been delivered by such pledging Noteholder’s Note Pledgee. Any Note Pledgee shall be permitted to fully
exercise its rights and remedies against the applicable pledging Noteholder (and accept an assignment in lieu of foreclosure as
to the applicable collateral), in accordance with applicable law and this Agreement. In such event, the other (non-pledging) Noteholders
and any Servicer shall recognize such Note Pledgee (and any assignee or transferee (other than the Mortgage Loan Borrower or any
Affiliate thereof) which is also a Qualified Institutional Lender at any foreclosure or similar sale held by such Note Pledgee
or any transfer in lieu of foreclosure) and its successors and assigns, as the successor to the pledging Noteholder’s rights,
remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Institutional Lender shall assume in writing
the obligations of the pledging Noteholder hereunder accruing from and after the date and time of such Transfer (i.e., realization
upon the applicable collateral by such Note Pledgee) and agrees to be bound by the terms and provisions of this Agreement. The
rights of a Note Pledgee under this Section 19(e) shall remain effective as to any Noteholder (and any Servicer) unless and
until such Note Pledgee shall have notified any such Noteholder (and any Servicer, as applicable) in writing that its interest
in the pledged Note has terminated.

 

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

 

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

 

(ii)           
The Conduit Credit Enhancer and conduit manager (if Moody’s rates a Securitization) will each be a Qualified Institutional
Lender;

 

(iii)           
Such Noteholder will pledge (or sell, transfer or assign as part of a repurchase facility) its interest in the applicable
Note to the Conduit as collateral for the Conduit Inventory Loan;

 

(iv)           
The Conduit Credit Enhancer and the Conduit will agree that, if such Noteholder defaults under the Conduit Inventory Loan,
or if the Conduit is unable to refinance its outstanding commercial paper even if there is no default by such Noteholder, the
Conduit Credit Enhancer will purchase the Conduit Inventory Loan from the Conduit, and the Conduit will assign the pledge of such
Noteholder’s Note (or all of its rights and obligations in connection with the applicable repurchase facility with respect
thereto) to the Conduit Credit Enhancer; and

 

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(v)           
Unless the Conduit is in fact then a Qualified Institutional Lender, the Conduit will not, without obtaining the consent
of each other Noteholder and, following a Securitization, a Rating Agency Confirmation, have any greater right to acquire the
interests in the Note pledged (or sold, transferred or assigned as party of a repurchase facility) by such Noteholder, by foreclosure
or otherwise, than would any other purchaser that is not a Qualified Institutional Lender at a foreclosure sale conducted by a
Note Pledgee.

 

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

 

Section
21.           
Registration of Note A-1, Note A-2, Note A-3, Note A-4, Note A-5 and Junior Note. The Agent shall keep or cause
to be kept at the Agent Office books (the “Note Register”) for the registration and transfer of the Notes.
The Agent shall serve as the initial Note registrar and the Agent hereby accepts such appointment. The names and addresses of
the holders of the Notes and the names and addresses of any transferee of any Note of which the Agent has received notice referred
to in Section 20, shall be registered in the Note Register. The Person in whose name a Note is so registered shall be deemed and
treated as the sole owner and holder thereof for all purposes of this Agreement, except in the case of the Initial Note A-1 Holder,
the Initial Note A-2 Holder, the Initial Note A-3 Holder, the Initial Note A-4 Holder, the Initial Note A-5 Holder or the Initial
Junior Noteholder who may hold its Note through a nominee. Upon request of a Noteholder, the Agent shall provide such Noteholder
with the names and addresses of the other Noteholders. To the extent another Person is appointed as the Agent, each of the 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 Junior Noteholder hereby
designates such Person as its agent under Section 20 and this Section 21 solely for purposes of maintaining the Note Register.

 

Section
22.           
No Pledge. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the
Senior Noteholders to the Junior Noteholder. Except as otherwise provided in this Agreement and the Servicing Agreement, the Junior
Noteholder shall not have any interest in any property taken as security for the Mortgage Loan, provided, however,
that if any such property or the proceeds of any sale, lease or other disposition thereof shall be received, then the Junior Noteholder
shall be entitled to receive its

 

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share
of such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

 

Section
23.           
Cooperation in Securitization.

 

(a)               
Each Noteholder acknowledges that any Senior Noteholder may elect, in its sole discretion, and at its sole cost and expense,
to include its respective Senior Note in a Securitization. In connection with a Securitization and subject to the terms of the
preceding sentence, (x) at the request of the securitizing Noteholder, each non-securitizing Noteholder shall use reasonable efforts,
at the securitizing Noteholder’s expense, to satisfy, and to cooperate with the securitizing Noteholder in attempting to
cause the Mortgage Loan Borrower to satisfy, the market standards to which such securitizing Noteholder customarily adheres or
which may be reasonably required in the marketplace or by the Rating Agencies in connection with the applicable Securitization,
including, entering into (or consenting to, as applicable) any modifications to this Agreement or the Mortgage Loan Documents
and to cooperate with the securitizing Noteholder in attempting to cause the Mortgage Loan Borrower to execute such modifications
to the Mortgage Loan Documents, in any such case, as may be reasonably requested by the Rating Agencies to effect such Securitization;
provided, however, that no non-securitizing Noteholder shall be required to modify or amend this Agreement or any
Mortgage Loan Documents (or consent to such modification, as applicable) in connection therewith, if such modification or amendment
would (i) change the interest allocable to, or the amount of any payments due to or priority of such payments, such Noteholder
or (ii) increase such Noteholder’s obligations (other than to an immaterial extent) or decrease such Noteholder’s
rights, remedies or protections (other than to an immaterial extent). In connection with a Securitization, each non-securitizing
Noteholder shall, at the sole cost and expense of the securitizing Noteholder, provide for inclusion in any disclosure document
relating to the related Securitization such information concerning such non-securitizing Noteholder and the other Notes as the
securitizing Noteholder reasonably determines to be necessary or appropriate; and (y) each non-securitizing Noteholder shall cooperate,
at the sole cost and expense of the securitizing Noteholder, with the reasonable requests of each Rating Agency and the securitizing
Noteholder in connection with a Securitization, as well as in connection with all other matters and the preparation of any offering
documents relating thereto and to review and respond reasonably promptly with respect to any information relating to it and the
other Notes in any Securitization document. Each Noteholder acknowledges that any information provided by it to a securitizing
Noteholder may be incorporated into the offering documents for a Securitization. Each securitizing Noteholder and each Rating
Agency shall be entitled to rely on the information supplied by, or on behalf of, the non-securitizing Noteholders.

 

(b)              
A securitizing Noteholder may, at its election, deliver to the other Noteholders drafts of the preliminary and final prospectus,
drafts of the preliminary and final offering memoranda and any other disclosure documents and the servicing agreement at such
time as it deems necessary or appropriate in connection with the Securitization of the related Note. Each of the non-securitizing
Noteholders may, at its election, review and comment thereon insofar as it relates to such non-securitizing Noteholder or its
Note, and, if such non-securitizing Noteholder elects to review and comment, such non-securitizing Noteholder shall review and
comment thereon as soon as possible but in no event later than two (2) Business Days of its receipt thereof, and if such non-securitizing
Noteholder fails to respond within such time,

 

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such
non-securitizing Noteholder shall be deemed to have elected to not comment thereon, provided that if such non-securitizing
Noteholder elects to review and comment, any such review and comments with respect to the final draft distributed in connection
with the preparation of the preliminary and final prospectus for printing shall be made no later than the time requested in the
e-mail containing such final draft and if such non-securitizing Noteholder fails to respond by such time period (or, prior to
the expiration of such time period, request additional time from the securitizing Noteholder), such non-securitizing Noteholder
shall be deemed to have elected to not comment thereon. In the event of any disagreement between the securitizing Noteholder and
such non-securitizing Noteholder with respect to the preliminary and final offering memoranda, prospectus supplement, free writing
prospectus or any other disclosure documents the securitizing Noteholder’s determination shall control. A non-securitizing
Noteholder has no obligation and shall have no liability with respect to any such offering documents other than the accuracy of
any comments it elects to make or refrain from making, regarding itself or its Note.

 

(c)               
Notwithstanding anything herein to the contrary, the Senior Noteholders acknowledge and agree that (i) the Junior Noteholder
shall not be required to incur any out-of-pocket costs and expenses in connection with a Securitization of any Senior Note or
any portion thereof and (ii) if applicable, the Junior Noteholder shall not be required to disclose any of the beneficial owners
of a managed account on behalf of which it holds the Junior Note.

 

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

 

Section
24.           
Governing Law; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED
TO THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS
AND DUTIES OF THE PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS AND DECISIONS
OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES
ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

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Section
25.           
Submission To Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:

 

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

 

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

 

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

 

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

 

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

 

Section
27.           
Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective successors and permitted assigns. Except as provided herein, none of the provisions of
this Agreement shall be for the benefit of or enforceable by any Person not a party hereto. Subject to Section 19 and Section
20, each Noteholder may assign its rights or obligations under this Agreement. Upon any such assignment, the assignee shall be
entitled to all rights and benefits of the applicable Senior Noteholder or the Junior Noteholder, as the case may be,

 

    67 

     

    

 

hereunder,
including, without limitation, the right to make further assignments and sever and resize its respective Note (as permitted pursuant
to Section 39 below).

 

Section
28.           
Counterparts; Facsimile Execution.

 

(a)   
The words “delivery,” “execute,” “execution,” “signed,” “signature,”
and words of like import in any document executed in connection herewith shall be deemed to include electronic signatures, the
electronic matching of assignment terms and contract formations on electronic platforms, or the keeping of records in electronic
form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery
thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable
Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures
and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided, that, notwithstanding
anything contained herein to the contrary, the parties hereto are under no obligation to agree to accept electronic signatures
in any form or in any format unless expressly agreed to by the parties hereto pursuant to procedures approved by the parties hereto;
provided, further, that, without limiting the foregoing, upon the request of the either party hereto, any electronic signature
shall be promptly followed by such manually executed counterpart.

 

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

 

Section
29.           
Captions. The titles and headings of the paragraphs of this Agreement have been inserted for convenience of reference
only and are not intended to summarize or otherwise describe the subject matter of the paragraphs and shall not be given any consideration
in the construction of this Agreement.

 

Section
30.           
Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable laws,
such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Agreement.

 

    68 

     

    

 

Section
31.           
Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto with respect to the subject
matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

 

Section
32.           
Withholding Taxes.

 

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

 

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

 

(c)               
Each Noteholder (to the extent it is not the same entity as the Lead Securitization Noteholder) represents to the Lead
Securitization Noteholder (for the benefit of the Mortgage Loan Borrower) that it is not a Non-Exempt Person and that neither
the Lead Securitization Noteholder nor the Mortgage Loan Borrower is obligated under applicable law to withhold Taxes on sums
paid to it with respect to the Mortgage Loan or otherwise pursuant to this Agreement. Contemporaneously with the execution of
this Agreement and from time to time as necessary during the term of this Agreement, each Noteholder (to the extent it is not
the same entity as the Lead Securitization Noteholder) shall deliver to the Lead Securitization Noteholder or Servicer, as applicable,
evidence satisfactory to the Lead Securitization Noteholder substantiating that such Noteholder is not a Non-Exempt Person and
that the Lead

 

    69 

     

    

 

Securitization
Noteholder is not obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise
under this Agreement. Without limiting the effect of the foregoing, (i) if a Noteholder is created or organized under the laws
of the United States, any state thereof or the District of Columbia, it shall satisfy the requirements of the preceding sentence
by furnishing to the Lead Securitization Noteholder an Internal Revenue Service Form W-9 and (ii) if a Noteholder is not created
or organized under the laws of the United States, any state thereof or the District of Columbia, and if the payment of interest
or other amounts by the Mortgage Loan Borrower is treated for United States income tax purposes as derived in whole or part from
sources within the United States, such Noteholder shall satisfy the requirements of the preceding sentence by furnishing to the
Lead Securitization Noteholder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments) or Form W-8BEN
or Form W-8BEN-E, or successor forms, as may be required from time to time, duly executed by such Noteholder, as evidence of such
Noteholder’s exemption from the withholding of United States tax with respect thereto. The Lead Securitization Noteholder
shall not be obligated to make any payment hereunder to a Noteholder in respect of its Note or otherwise until such Noteholder
shall have furnished to the Lead Securitization Noteholder the requested forms, certificates, statements or documents.

 

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

 

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

 

Section
35.           
Notices. All notices required hereunder shall be given by (i) telephone (confirmed promptly in writing) or shall
be in writing and personally delivered, (ii) sent by facsimile transmission (during business hours) if the sender on the same
day sends a confirming copy of such notice by reputable overnight delivery service (charges prepaid), (iii) reputable overnight
delivery service (charges prepaid) or (iv) certified United States mail,

 

    70 

     

    

 

postage
prepaid return receipt requested, and addressed to the respective parties at their addresses set forth on Exhibit B hereto,
or at such other address as any party shall hereafter inform the other party by written notice given as aforesaid. All written
notices so given shall be deemed effective upon receipt.

 

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

 

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

 

Section
37.           
Certain Matters Affecting the Agent.

 

(a)               
The Agent may request and/or rely upon, and shall be protected in acting or refraining from acting upon the representations
and warranties made by any transferee in connection with a Transfer pursuant to Section 19 or otherwise in connection with Section
19, 20 or 21;

 

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

 

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

 

(d)              
The Agent or any of its directors, officers, employees, Affiliates, agents or “control persons” within the
meaning of the Securities Act of 1933, as amended, shall not be personally liable for any action taken, suffered or omitted by
it in good faith and reasonably believed by the Agent to be authorized or within the discretion or rights or powers conferred
upon it by this Agreement;

 

(e)               
The Agent shall not be bound to make any investigation into the facts or matters related to a Transfer or in connection
with Section 19, 20 or 21; and

 

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

 

Section
38.           
Termination of Agent. Prior to a Securitization, the Agent may be terminated at any time upon ten (10) days prior
written notice from the Note A-1 Holder. In the event that the Agent is terminated pursuant to this Section 38, all of its
rights and obligations under this Agreement shall be terminated, other than any rights or obligations that accrued prior to the
date and time of such termination.

 

    71 

     

    

 

The
Agent may resign at any time upon notice, so long as a successor Agent, reasonably satisfactory to the Noteholders, has agreed
to be bound by this Agreement and perform the duties of the Agent hereunder. Cantor Commercial Real Estate Lending, L.P., as Initial
Agent, may transfer its rights and obligations to the Servicer, as successor Agent, at any time without the consent of any Noteholder.
Cantor Commercial Real Estate Lending, L.P., as Initial Agent, shall promptly and diligently attempt to cause the Servicer to
act as successor Agent, and, if the Servicer declines to act in such capacity, shall promptly and diligently attempt to cause
a similar servicer to act as successor Agent. The termination or resignation of the Servicer, as Servicer under the Servicing
Agreement, shall be deemed a termination or resignation of the Servicer as Agent under this Agreement. Notwithstanding anything
to the contrary in this Agreement, upon a Securitization of any Senior Note or any portion thereof, the Certificate Administrator
(or, if there is no Certificate Administrator, the Trustee) shall automatically become and be the Agent.

 

Section
39.           
Resizing. (a) The Junior Noteholder agrees that, if, in connection with a Securitization of any Senior Note or any
portion thereof, it is advantageous to resize or otherwise change the size of any Senior Note, the Junior Noteholder shall reasonably
cooperate with the applicable Senior Noteholder(s), at the sole cost and expense of such Senior Noteholder(s) to resize the applicable
Senior Note(s) and shall reasonably cooperate with the Senior Noteholder(s) to amend this Agreement in such manner as shall be
necessary to implement such resizing. In connection with any such resizing of the Senior Notes, the Senior Noteholders may allocate
their rights hereunder among the existing Senior Notes or any New Notes (as defined below) in any manner in their sole discretion
and at the sole cost and expense of the applicable Senior Noteholder; provided that no such resizing of any Senior Note(s) or
issuance of any Senior Note shall increase or decrease the size or principal amount of the Junior Note.

 

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

 

    72 

     

    

 

applicable,
solely for the purpose of reflecting such reallocation of principal and if an Owned Note is severed into more than one New Note,
each New Note shall have the same rights as the respective original Owned Note and each New Note shall be a “Note”
hereunder and for purposes of adding and modifying any definitions related thereto. If more than one New Note is created hereunder,
for purposes of exercising the rights of a “Controlling Noteholder” or “Non-Controlling Noteholder”, as
applicable, shall be provided in the definitions of such terms in this Agreement; provided that the Controlling Noteholder shall
be entitled to designate any New Note created from the existing controlling note to be a Non-Controlling Note hereunder.

 

[SIGNATURE PAGE
FOLLOWS]

 

    73 

     

    

 

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

 

	 	CANTOR COMMERCIAL REAL ESTATE LENDING, L.P., as
Initial Note A-1 Holder, Initial Note A-2 Holder, Initial Note A-3 Holder, Initial Note A-4 Holder and Initial Note A-5 Holder
	 	 
	 	By:	/s/ Gary Stellato
	 	 	Name: Gary Stellato
Title:   Secretary

 

	 	PRIMA MORTGAGE INVESTMENT TRUST, LLC, a Delaware limited liability company, as Initial
Junior Noteholder
	 	 
	 	By:	Prima Capital Advisors LLC,

a New York limited liability company,

as Authorized Agent
	 	 	 
	 	 	By:	/s/ Nilesh Patel
	 	 	 	Name: Nilesh Patel
Title:   Managing Director

 

Dreamworks
– Agreement Among Noteholders

 

     

     

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

 

A.       Description of
Mortgage Loan:

 

	Mortgage Loan:	Loan Agreement, dated as of November 20, 2017, among Cantor Commercial Real Estate Lending, L.P., individually and as Agent for one or more Co-Lenders, Prima Mortgage Investment Trust, LLC, as Co-Lender, and the Mortgage Loan Borrower
	Mortgage Loan Borrower:	La Hana Ow, LLC
	Date of the Mortgage Loan and the Mortgage: 	November 20, 2017
	Initial Principal Amount of Mortgage Loan:	$200,000,000.00
	Location of Mortgaged Property:	Glendale, California
	Anticipated Repayment Date:	December 6, 2022
	Maturity Date:	December 6, 2024

 

B.       Description of
Note Interests:

 

	Initial Senior Note Principal Balance:	$92,000,000.00
	Initial Note A-1 Principal Balance:	$25,000,000.00
	Initial Note A-2 Principal Balance:	$20,000,000.00
	Initial Note A-3 Principal Balance:	$20,000,000.00
	Initial Note A-4 Principal Balance:	$17,000,000.00
	Initial Note A-5 Principal Balance:	$10,000,000.00
	Initial Junior Note Principal Balance:	$108,000,000.00
	Senior Note Rate:	2.298%
	Junior Note Rate:	4.000%
	Initial Senior Note Percentage Interest: 	46.00%

 

    A-1 

     

    

 

	Initial Note A-1 Percentage Interest:	12.50%
	Initial Note A-2 Percentage Interest:	10.00%
	Initial Note A-3 Percentage Interest:	10.00%
	Initial Note A-4 Percentage Interest:	8.50%
	Initial Note A-5 Percentage Interest:	5.00%
	Initial Junior Note Percentage Interest:	54.00%

 

    A-2 

     

    

 

EXHIBIT B

 

Initial Note A-1 Holder:

 

Cantor Commercial Real Estate Lending, L.P.

110 East 59th Street, 6th Floor

New York, New York 10022

Attention: Legal Department

Email: legal@ccre.com

 

with a copy to:

 

DLA Piper LLP (US)

1251 Avenue of the Americas

New York, New York 10020

Attention: Jeffrey B. Steiner, Esq.

Facsimile No.: (212) 335-4501

E-Mail: jeffrey.steiner@dlapiper.com

 

Initial Note A-2 Holder:

 

Cantor Commercial Real Estate Lending, L.P.

110 East 59th Street, 6th Floor

New York, New York 10022

Attention: Legal Department

Email: legal@ccre.com

 

with a copy to:

 

DLA Piper LLP (US)

1251 Avenue of the Americas

New York, New York 10020

Attention: Jeffrey B. Steiner, Esq.

Facsimile No.: (212) 335-4501

E-Mail: jeffrey.steiner@dlapiper.com

 

     

     

    

 

Initial Note A-3 Holder:

 

Cantor Commercial Real Estate Lending, L.P.

110 East 59th Street, 6th Floor

New York, New York 10022

Attention: Legal Department

Email: legal@ccre.com

 

with a copy to:

 

DLA Piper LLP (US)

1251 Avenue of the Americas

New York, New York 10020

Attention: Jeffrey B. Steiner, Esq.

Facsimile No.: (212) 335-4501

E-Mail: jeffrey.steiner@dlapiper.com

 

Initial Note A-4 Holder:

 

Cantor Commercial Real Estate Lending, L.P.

110 East 59th Street, 6th Floor

New York, New York 10022

Attention: Legal Department

Email: legal@ccre.com

 

with a copy to:

 

DLA Piper LLP (US)

1251 Avenue of the Americas

New York, New York 10020

Attention: Jeffrey B. Steiner, Esq.

Facsimile No.: (212) 335-4501

E-Mail: jeffrey.steiner@dlapiper.com

 

     B-2

     

    

 

Initial Note A-5 Holder:

 

Cantor Commercial Real Estate Lending, L.P.

110 East 59th Street, 6th Floor

New York, New York 10022

Attention: Legal Department

Email: legal@ccre.com

 

with a copy to:

 

DLA Piper LLP (US)

1251 Avenue of the Americas

New York, New York 10020

Attention: Jeffrey B. Steiner, Esq.

Facsimile No.: (212) 335-4501

E-Mail: jeffrey.steiner@dlapiper.com

 

Initial Junior Noteholder:

 

Prima Mortgage Investment Trust, LLC

c/o Prima Capital Advisors LLC

2 Overlook Road, Suite 215

Scarsdale, New York 10583

Attention: Nilesh Patel

E-Mail: NPatel@primaadvisors.com

 

with a copy to:

 

Pillsbury Winthrop Shaw Pittman LLP

1540 Broadway

New York, NY 10036-4039

Attention: Caroline A. Harcourt, Esq.

E-Mail: caroline.harcourt@pillsburylaw.com

 

     B-3

     

    

 

EXHIBIT C

PERMITTED FUND MANAGERS

 

		1.	Apollo Global Real Estate

		2.	Archon Capital, L.P.

		3.	BlackRock, Inc.

		4.	The Blackstone Group International Ltd.

		5.	Clarion Partners

		6.	Colony Capital, Inc.

		7.	Eightfold Real Estate Capital, L.P.

		8.	Fortress Investment Group LLC

		9.	Goldman, Sachs & Co.

		10.	iStar Financial Inc.

		11.	KKR Real Estate Manager Finance LLC

		12.	Lonestar Funds

		13.	Praedium Group

		14.	Prima Capital Advisors LLC

		15.	Raith Capital Partners, LLC

		16.	Rialto Capital Advisors, LLC

		17.	Rialto Capital Management, LLC

		18.	Square Mile Capital Management LLC

		19.	Starwood Financial Trust

		20.	Torchlight Investors

		21.	Walton Street Capital, LLC

		22.	Westbrook Partners

 

    C-1Exhibit 4.8

 

EXECUTION VERSION

	 

 

Branson
Convention Center 

Branson
Promenade

 

CO-LENDER
AGREEMENT

 

Dated
as of May 31, 2018

 

between

 

TUEBOR
TRS II LLC

(BCC Note A-1 Holder)

 

and

 

TUEBOR
TRS II LLC

(BCC Note A-2 Holder)

 

and

 

TUEBOR
TRS II LLC

(BP Note A-1 Holder)

 

and

 

TUEBOR
TRS II LLC

(BP Note A-2 Holder)

	 

 

    

     

    

 

TABLE
OF CONTENTS

 

Page

 

	1.	Definitions;
Conflicts	2
	2.	Servicing
of the Mortgage Loans	15
	3.	Priority
of  Notes	17
	4.	Workout	18
	5.	Accounts;
Payment Procedure	18
	6.	Limitation
on Liability	19
	7.	Representations
of the Holders	19
	8.	Independent
Analyses of each Holder	20
	9.	No
Creation of a Partnership or Exclusive Purchase Right	20
	10.	Not
a Security	20
	11.	Other
Business Activities of the Holders	20
	12.	Transfer
of Notes	21
	13.	Exercise
of Remedies by the Servicer	23
	14.	Rights
of the Directing Holder	25
	15.	Appointment
of Special Servicer	26
	16.	Rights
of the Non-Directing Holders	27
	17.	Advances;
Reimbursement of Advances	28
	18.	Provisions
Relating to Securitization	29
	19.	Governing
Law; Waiver of Jury Trial	34
	20.	Modifications	35
	21.	Successors
and Assigns; Third Party Beneficiaries	35
	22.	Counterparts	35
	23.	Captions	35
	24.	Notices	35
	25.	Custody
of Mortgage Loan Documents	36
	26.	Replacement
Co-Lender Agreement	36

 

    -i-

     

    

 

THIS CO-LENDER AGREEMENT (the “Agreement”), dated as of May 31, 2018, is between TUEBOR TRS II LLC,
a Michigan limited liability company (“TTRS”), having an address at c/o Marsh Captive Solutions, 100 Bank Street,
Suite 610, Burlington, Vermont 05401, as the holder of BCC Note A-1, TTRS, as the holder of BCC Note A-2, TTRS as the
holder of BP Note A-1 and TTRS, as the holder of BP Note A-2.

 

W I T N E S S E T H:

 

WHEREAS,
Ladder Capital Finance LLC (“LCF”) has made a mortgage loan in the original principal amount of $17,750,000.00
(the “BCC Mortgage Loan”) to Branson Landing Hotel, L.L.C. (the “BCC Borrower”) pursuant
to a loan agreement between the BCC Borrower, as borrower, and LCF, as lender, dated as of March 16, 2018 (the “BCC Loan
Agreement”), which BCC Mortgage Loan was evidenced by a single promissory note in the original principal amount of $17,750,000.00
(the “Original BCC Promissory Note”);

 

WHEREAS, the BCC Mortgage Loan is secured by, among other things, a first mortgage lien (the “BCC Mortgage”)
on the BCC Borrower’s leasehold interest in the property known as Branson Convention Center located at 200 East Main Street,
Branson, Missouri (the “BCC Mortgaged Property”);

 

WHEREAS, on or about
April 30, 2018, the Original BCC Promissory Note was split into two notes pursuant to a Note Splitter and Loan Document Modification
Agreement between the BCC Borrower and TTRS, and the BCC Mortgage Loan is presently evidenced by the following notes: Promissory
Note A-1 in the original principal amount of $10,650,000 and Promissory Note A-2 in the original principal amount of
$7,100,000 (“BCC Note A-1” and “BCC Note A-2”, respectively, and individually,
each, a “BCC Note” and collectively the “BCC Notes”);

 

WHEREAS, LCF has made
a mortgage loan in the original principal amount of $13,500,000 (the “BP Mortgage Loan” and together with the
BCC Mortgage Loan, the “Mortgage Loans”) to Boutique Hotel Development Company, L.L.C. (the “BP Borrower”
and together with the BCC Borrower, the “Borrowers”) pursuant to a loan agreement between the BP Borrower,
as borrower, and LCF, as lender, dated as of March 16, 2018 (the “BP Loan Agreement” and together with the
BCC Loan Agreement, the “Loan Agreements”), which BP Mortgage Loan was evidenced by a single promissory note
in the original principal amount of $13,500,000 (the “Original BP Promissory Note”);

 

WHEREAS, the BP Mortgage
Loan is secured by a first mortgage lien (the “BP Mortgage” and together with the BCC Mortgage, the “Mortgages”)
on, among other things, the BP Borrower’s leasehold interest in the property known as Branson Promenade located at 3 Branson
Landing Boulevard, Branson, Missouri (the “BP Mortgaged Property” and together with the BCC Mortgaged Property,
the “Mortgaged Properties”);

 

WHEREAS, on or about
April 30, 2018, the Original BP Promissory Note was split into two notes pursuant to a Note Splitter and Loan Document Modification
Agreement between the BP Borrower and TTRS, and the BP Mortgage Loan is presently evidenced by the

 

    

     

    

 

 

following notes: Promissory
Note A-1 in the original principal amount of $8,100,000 and Promissory Note A-2 in the original principal amount of
$5,400,000 (“BP Note A-1” and “BP Note A-2”, respectively, and individually, each,
a “BP Note” and collectively the “BP Notes”, and together with the BCC Notes, each, a “Note”
and collectively the “Notes”);

 

WHEREAS, the Mortgage
Loans are cross-collateralized and cross-defaulted with each other pursuant to a certain Cross-Default, Cross-Collateralization
and Contribution Agreement, dated as of March 16, 2018, by and among the Borrowers and LCF;

 

WHEREAS, on or before
the date of this Agreement, LCF transferred its right, title and interest in the Notes to TTRS;

 

WHEREAS,
TTRS intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and interest in and to BCC Note A-1
and BP Note A-1 (the “A-1 Notes”) to LCF for sale to a depositor who will in turn transfer the same to a single
trust as part of the securitization of one or more mortgage loans; and

 

WHEREAS, TTRS intends
to sell, transfer and assign all of its right, title and interest in BCC Note A-2 and BP Note A-2 (the “UBS-C10 Notes”)
to LCF, which intends to sell, transfer and assign all of its right, title and interest in and to the UBS-C10 Notes to UBS Commercial
Mortgage Securitization Corp. (“UBSCMSC”), as depositor, pursuant to a Mortgage Loan Purchase Agreement dated
as of May 23, 2018, by and between UBSCMSC, as purchaser, and LCF, as seller, and UBSCMSC, as purchaser, intends to transfer its
right, title and interest in and to the UBS-C10 Notes to Wilmington Trust, National Association, as trustee for the UBS Commercial
Mortgage Trust 2018-C10 under a pooling and servicing agreement, dated as of May 1, 2018 (the “UBS-C10 PSA”),
among UBSCMSC, as depositor, Wells Fargo Bank, National Association, as master servicer, Rialto Capital Advisors, LLC, as special
servicer, Park Bridge Lender Services LLC, as operating advisor and as asset representations reviewer, Wells Fargo Bank, National
Association, as certificate administrator, and Wilmington Trust, National Association, as trustee (such sales, transfers and assignments,
the “UBS-C10 Securitization”);

 

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

 

1.           Definitions;
Conflicts.     References to a “Section” or the “recitals” are, unless otherwise specified, to a
Section or the recitals of this Agreement. Capitalized terms used but not otherwise defined herein shall have the meanings
ascribed thereto in the Servicing Agreement. To the extent of any inconsistency between this Agreement and the Servicing
Agreement, 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.

 

“A-1 Note” shall mean BCC Note A-1 and/or BP Note A-1, as the context requires.

           
 

    -2-

     

    

 

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

 

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

 

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

 

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

 

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

 

“A-1 Notes
Special Servicer” shall mean the special servicer for the Mortgage Loans under the A-1 Notes PSA.

 

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

 

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

 

“A-2 Note”
shall mean BCC Note A-2 and/or BP Note A-2, as the context requires.

 

“Acceptable
Insurance Default” shall have the meaning assigned to such term or analogous term in the Servicing Agreement.

 

“Advance”
shall mean any P&I Advance or Property Advance made with respect to any of the Notes, the Mortgage Loans or the Mortgaged
Properties pursuant to the A-1 Notes PSA or the UBS-C10 PSA.

 

“Affiliate”
shall mean, with respect to any specified Person, (a) any other Person controlling or controlled by or under common control
with such specified Person (each, a “Common Control Party”), (b) any other Person owning, directly or
indirectly, ten percent (10%) or more of the beneficial interests in such Person or (c) any other Person in which such Person
or a Common Control Party owns, directly or indirectly, ten percent (10%) or more of the beneficial interests. For the purposes
of this definition, “control” when used with respect to any specified Person means the power to direct the management
and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract, relation
to individuals or otherwise, and the terms “controlling” and “controlled” have meanings correlative to
the foregoing.

 

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

 

    -3-

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    -4-

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Borrowers”
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.

 

“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 A-1 Notes Securitization or the UBS-C10 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 Loans.

 

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

 

    -5-

     

    

 

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

 

“Control Note”
shall mean BCC Note A-1.

 

“Control Note
Holder” shall mean TTRS or any subsequent holder of the Control Note.

 

“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 Loans” shall mean both of the Mortgage Loans together in the event that either one of the Mortgage Loans 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 applicable Mortgage Loan Documents and
without regard to any acceleration of payments under the applicable Mortgage Loan Documents.

 

“Depositor” shall mean (i) with respect to the A-1 Notes Securitization, the depositor under the A-1 Notes
PSA and (ii) with respect to the UBS-C10 Securitization, UBSCMSC.

 

“Directing Holder” shall mean (i) at any time the Control Note is not included in a securitization, the
Control Note Holder or such other party that the Control Note Holder grants the right to exercise the rights granted to the Directing
Holder in this Agreement and (ii) at any time the Control Note is included in a securitization, the holders of Certificates
representing the specified interest in the class of Certificates designated as the “controlling class” under the A-1
Notes 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.

 

“Excluded
Amounts” shall mean:

 

(i)          
proceeds, awards or settlements to be applied to the restoration or repair of a Mortgaged Property or released to a 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

 

    -6-

     

    

 

limitation, Servicing Fees, Special Servicing Fees, if applicable, reimbursement of costs and expenses, reimbursement
of Property Advances and interest thereon at the Reimbursement Rate;

 

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

 

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

 

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

 

“Intervening
Trust Vehicle” shall mean, with respect to any Securitization Vehicle that is a CLO, a trust vehicle or entity that
holds a 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.

 

“LCF” shall mean Ladder Capital Finance LLC and its successors in interest.

 

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

 

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

 

“Lead Note Seller” shall mean the entity that sells the Lead Note into the Lead Securitization.

 

“Lead PSA” shall mean (a) during the period from and after the UBS-C10 Securitization Date and prior to the
A-1 Notes Securitization Date, the UBS-C10 PSA and (b) from and after the A-1 Notes Securitization Date, the A-1 Notes PSA.

 

“Lead Securitization”
shall mean (a) during the period from and after the UBS-C10 Securitization Date and prior to the A-1 Notes Securitization
Date, the UBS-C10 Securitization and (b) from and after the A-1 Notes Securitization Date, the A-1 Notes Securitization.

 

“Lead Securitization
Trust” shall mean (a) during the period from and after the UBS-C10 Securitization Date and prior to the A-1 Notes
Securitization Date, the trust established under the UBS-C10 PSA in connection with the UBS-C10 Securitization and, (b) from
and after the A-1 Notes Securitization Date, the trust established under the A-1 Notes PSA in connection with the A-1 Notes Securitization.

 

“Lead Servicer”
shall mean (a) during the period from and after the UBS-C10 Securitization Date and prior to the A-1 Notes Securitization
Date, the servicer and/or special

 

    -7-

     

    

 

servicer designated under the UBS-C10 PSA and, (b) from and after the A-1 Notes Securitization
Date, the servicer and/or special servicer designated under the A-1 Notes PSA.

 

“Lead Trustee”
shall mean (a) during the period from and after the UBS-C10 Securitization Date and prior to the A-1 Notes Securitization
Date, the UBS-C10 Trustee and, (b) from and after the A-1 Notes Securitization Date, the trustee designated under the A-1
Notes Securitization.

 

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

 

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

 

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

 

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

 

“Master Servicer
Remittance Date” shall mean:

 

(a)         during the period after the UBS-C10 Securitization Date but prior to the A-1 Notes Securitization Date:

 

(i)          with respect to the UBS-C10 Notes, the “Master Servicer Remittance Date” (or analogous term) as defined in the
UBS-C10 PSA; and

 

(ii)         with respect to the A-1 Notes, one Business Day after the “Determination Date” (or analogous term) as defined in the
UBS-C10 PSA

 

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

 

(i)          with respect to the UBS-C10 Notes, two Business Days prior to the “Master Servicer Remittance Date” (or analogous
term) as defined in the UBS-C10 PSA (as long as such date is at least one Business Day after receipt of the Monthly Payment);
and

 

(ii)        
with respect to the A-1 Notes the “Master Servicer Remittance Date” (or analogous term) as defined in the
A-1 Notes PSA.

 

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

 

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

 

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

 

    -8-

     

    

 

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

 

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

 

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

 

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

 

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

 

“Mortgage Loan
Principal Balance” shall mean, at any date of determination, the principal balance of the Notes evidencing the Mortgage
Loans, individually or in the aggregate as the context may require.

 

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

 

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

 

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

 

“Non-Directing Holders” shall mean the holders of any of the Non-Control Notes or, 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 UBS-C10 PSA to exercise the rights granted to the Non-Directing Holders in this
Agreement. If any Non-Control Note is no longer in a Securitization, the Non-Directing Holder with respect to such Note will be
the then-current Holder of such Note.

 

“Non-Lead Master Servicer” shall mean, with respect to the UBS-C10 Notes, from and after the A-1 Notes Securitization
Date, the master servicer designated under the UBS-C10 PSA.

 

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

 

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

 

“Non-Lead
Servicing Agreement” shall mean, from and after the A-1 Notes Securitization Date, the UBS-C10 PSA.

 

“Non-Lead
Special Servicer” shall mean, from and after the A-1 Notes Securitization Date, the special servicer designated under
the UBS-C10 PSA.

 

    -9-

     

    

 

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

 

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

 

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

 

“Original BCC
Promissory Note” shall have the meaning assigned such term in the recitals.

 

“Original BP
Promissory Note” shall have the meaning assigned such term in the recitals.

 

“P&I Advance”
shall mean an advance made by a party to the A-1 Notes PSA or the UBS-C10 PSA, as applicable, with respect to a delinquent monthly
debt service payment on the Notes included in the related Securitization.

 

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

 

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

 

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

 

“Property Advance”
shall mean an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the
security for a Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to a 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 aggregate principal balance of both
Mortgage Loans of such particular payment, collection, cost, expense, liability or other amount.

 

    -10-

     

    

 

“PSA”
shall mean the A-1 Notes PSA and the UBS-C10 PSA, as the context requires.

 

“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 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 LCF, or an Affiliate of any Holder or one or more of the following (other than the Borrowers
or any entity which is an Affiliate of the Borrowers):

 

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

 

(ii)          an investment company, money management firm or a “qualified institutional buyer” within the meaning of Rule 144A
under the Securities Act of 1933, as amended, which regularly engages in the business of making or owning investments of types
similar to the Mortgage Loans; or

 

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

 

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

 

    -11-

     

    

 

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

 

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

 

which, in the case of
each of clauses (i), (ii), and (iii) of this definition, has at least $400,000,000 in total assets (in name or under management)
and (except with respect to a pension advisory firm or similar fiduciary) at least $200,000,000 in capital/statutory surplus or
shareholders’ equity, and is regularly engaged in the business of making or owning commercial real estate loans or commercial
loans similar to the Mortgage Loans.

 

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

 

 

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

 

    -12-

     

    

 

“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 Control Note 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.

 

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

 

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

 

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

 

“Securitization”
shall mean the A-1 Notes Securitization and the UBS-C10 Securitization, as the context requires.

 

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

 

“Servicing Agreement” shall mean (a) during the period from and after the UBS-C10 Securitization Date
and prior to the A-1 Notes Securitization Date, the UBS-C10 PSA

 

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and, (b) after the A-1 Notes Securitization Date, the A-1
Notes PSA; 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.

 

“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 Loans as
of the date of determination.

 

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

 

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

 

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

 

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

 

“Special Servicer” shall mean the special servicer of the Mortgage Loans 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 Loans during the period the Mortgage Loans are 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 the trustee under the A-1 Notes PSA or the UBS-C10 PSA, as the context requires.

 

“TTRS”
shall mean Tuebor TRS II LLC and its successors in interest.

 

“UBS-C10 Master
Servicer” shall mean the master servicer under the UBS-C10 PSA.

 

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“UBS-C10 Notes”
shall have the meaning assigned to such term in the recitals.

 

“UBS-C10 PSA”
shall have the meaning assigned to such term in the recitals.

 

“UBS-C10 Securitization”
shall have the meaning assigned to such term in the recitals.

 

“UBS-C10 Securitization
Date” shall mean the closing date of the UBS-C10 Securitization.

 

“UBS-C10 Special
Servicer” shall mean the special servicer for the Mortgage Loans under the UBS-C10 PSA.

 

“UBS-C10 Trustee”
shall mean the trustee under the UBS-C10 PSA.

 

“UBS-C10 Trust
Fund” shall mean the trust formed pursuant to the UBS-C10 PSA.

 

“UBSCMSC”
shall mean UBS Commercial Mortgage Securitization Corp. and its successors in interest.

 

2.           
Servicing of the Mortgage Loans.    (a)  Each Holder acknowledges and agrees that, subject in each case to the specific terms of this Agreement, the
Mortgage Loans shall be serviced as follows:

 

(i)           from and after the UBS-C10 Securitization Date, but prior to the A-1 Notes Securitization Date, by the UBS-C10 Master Servicer
and the UBS-C10 Special Servicer pursuant to the terms of this Agreement and the UBS-C10 PSA; and

 

(ii)          from and after the A-1 Notes Securitization Date, by the A-1 Notes Master Servicer and the A-1 Notes Special Servicer pursuant
to the terms of this Agreement and the A-1 Notes PSA.

 

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 A-1 Notes PSA and UBS-C10 PSA shall contain terms and conditions that are customary for securitization transactions involving
assets similar to the Mortgage Loans and that are otherwise (i) required by the Code relating to the tax elections of the
A-1 Notes Trust Fund and the UBS-C10 Trust Fund, (ii) required by law or changes in any law, rule or regulation or (iii) requested
by the Rating Agencies rating the A-1 Notes Securitization or the UBS-C10 Securitization. In addition, the A-1 Notes PSA and UBS-C10
PSA shall have such additional provisions as are set forth in Section 18. The Control Note Holder shall have the right
to designate the Master Servicer and Special Servicer for the A-1 Notes 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

 

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Trustee under the Servicing Agreement by the Depositor and the appointment of the Special Servicer
by the Directing Holder and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect to the
servicing of the Mortgage Loans in accordance with the Servicing Agreement. Each Holder hereby appoints the Master Servicer, the
Special Servicer and the Trustee under the Servicing Agreement as such Holder’s attorney-in-fact to sign any documents reasonably
required with respect to the administration and servicing of the Mortgage Loans 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 Control Note Holder shall cause the Mortgage Loans 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 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 Control Note Holder shall cause the Mortgage Loans 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
Loans; provided, further, however, that until a replacement Servicing Agreement is in place, the actual servicing
of the Mortgage Loans may be performed by any Qualified Servicer appointed by the Control Note 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 13(a)), each Servicing
Agreement shall provide that the Servicer shall be required to service and administer the Mortgage Loans in accordance with the
Servicing Standard as set forth in such Servicing Agreement, and any Holder who is not a Borrower or an Affiliate of a 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 Loans.

 

(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
Loans 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 Mortgages or lien on such property following a default on the Mortgage Loans 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

 

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meaning of Section 860G(a)(8) of the Code, and (iii) no Servicer may modify, waive or amend any provision of the Mortgage
Loans, consent to or withhold consent from any action of the Borrowers, 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 either Mortgage Loan, within the meaning of Section 1.860G-2(b) of the regulations of the United States Department of
the Treasury, more than three (3) months after the startup day of the REMIC that includes any Note (or any portion thereof). Each
Holder agrees that the provisions of this paragraph shall be effected by compliance with any REMIC provisions in the Servicing
Agreement relating to the administration of the Mortgage Loans.

 

(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.

 

(i)          In the event that TTRS, LCF or an affiliate desires to “uncross” the Mortgage Loans in connection with a repurchase
demand that results from an alleged document defect or an alleged breach of a representation or warranty that was made in connection
with a Securitization, the terms of the both the Lead PSA and the Non-Lead Servicing Agreement (if any) shall be complied with
in connection with the uncrossing of the Mortgage Loans. Subject to the foregoing, each Servicer, the Non-Lead Master Servicer
(if any) and Non-Lead Special Servicer (if any) shall reasonably cooperate with any request of TTRS, LCF or an affiliate to “uncross”
the Mortgage Loans in such circumstances in order to permit the A-1 Note and A-2 Note relating to the Mortgage Loan allegedly
affected by the claimed document defect or breach of a representation or warranty to be removed from the respective Securitization(s)
to which they were contributed without having to also remove the A-1 Note or A-2 Note relating to the other Mortgage Loan.

 

3.          
Priority of Notes.    The Notes shall be of equal priority, and no portion of any Note shall have priority or preference over any portion of the other
Notes or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrowers or otherwise available for
payment on the Mortgage Loans, 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 Loans, proceeds under title, hazard
or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of
eminent domain shall be distributed by the Master Servicer and applied to the Notes on a Pro Rata and Pari Passu Basis.

 

The Servicing Agreement
may provide for the application of Penalty Charges paid in respect of the Mortgage Loans 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 Loans 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

 

    -17-

     

    

 

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 13 of this Agreement, and the obligation to act in accordance with the Servicing Standard, if the Lead
Note Holder, or any Servicer, in connection with a workout or proposed workout of a Mortgage Loan, modifies the terms thereof
such that (i) the Mortgage Loan Principal Balance of such Mortgage Loan is decreased, (ii) the Mortgage Interest Rate
of such Mortgage Loan is reduced, (iii) payments of interest or principal on any applicable Note are waived, reduced or deferred
or (iv) any other adjustment is made to any of the payment terms of such Mortgage Loan, such modification shall not alter,
and any modification of the applicable Mortgage Loan Documents shall be structured to preserve, the equal priorities of the applicable
Notes as described in Section 3.

 

5.          
Accounts; Payment Procedure.     The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection
Accounts, as applicable. Each of the Holders hereby directs the Master Servicer, in accordance with the priorities set forth in
Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection
Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loans 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 the Notes by wire transfer to accounts maintained by each respective 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 any Note must, pursuant to any insolvency, bankruptcy,
fraudulent conveyance, preference or similar law, be returned to any Borrower or paid to any Holder or any Servicer or paid to
any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any
portion thereof to the applicable Holder, and such Holder shall promptly on demand repay to such Servicer the portion 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 any Borrower, any Holder, any Servicer or such other person or entity with respect thereto. Each of the Holders agrees
that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loans 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 the applicable Holder with respect to the Mortgage Loans against any future payments
due to such Holder under the Mortgage Loans, provided, that the obligations of the Holders under this Section 5
are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder
against any other Holder. The obligations of the Holders under this 

 

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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 17 and (2) with respect to losses actually suffered due to the gross negligence,
willful misconduct or material breach of this Agreement on the part of such Holder (including the Master Servicer or the Special
Servicer on its behalf, except that the Master Servicer’s or Special Servicer’s liability is 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.

 

(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.

 

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(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 Loans, (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 Loans, (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 Borrowers. 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.

 

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 the Notes 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 any of the Borrowers, and receive payments on such other loans or extensions of credit to any
Affiliate of any of the Borrowers 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.

 

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12.         Transfer
of Notes.   (a)  Each Holder may Transfer up to 49% (in the aggregate) of its beneficial interest
in its Note whether or not the related transferee is a Qualified Transferee without a Rating Agency Confirmation. Each Holder
shall not Transfer more than 49% (in the aggregate) of its beneficial interest in its Note unless (i) prior to a Securitization
of any Note, the other 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 the other Holder. Notwithstanding the foregoing, without the non-transferring Holders’ prior consent (which will not
be unreasonably withheld), and, if any such non-transferring Holder’s Note is in a Securitization, without a Rating Agency
Confirmation from each Rating Agency that has been engaged by the Depositor to rate the securities issued in connection with such
Securitization, no Holder shall Transfer all or any portion of its Note to any of the Borrowers or an Affiliate of any of the
Borrowers and any such Transfer shall be absolutely null and void and shall vest no rights in the purported transferee.

 

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

 

(c)          The Holders acknowledge 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 any of the Borrowers or any Affiliate of any of the Borrowers) that has extended a credit facility
to such Holder or has entered into a repurchase agreement with such Holder and that, in each case, is either a Qualified Transferee
or a financial institution whose long-term unsecured debt is rated at least “A” (or the equivalent) or better by each
Rating Agency (a “Note Pledgee”), or to a Person with respect to which a Rating Agency Confirmation has been
obtained, on terms and conditions set forth in this Section 12(d), it being further agreed that a financing provided
by a Note Pledgee to any Holder or any Affiliate that controls such Holder that is secured by such Holder’s interest in
its respective Note and is structured as a repurchase arrangement, shall qualify as a “Pledge” hereunder on the condition
that all applicable terms and conditions of this Section 12 are complied with. A Note Pledgee that is not a Qualified
Transferee may not take title to a Note without a Rating Agency Confirmation. Upon written notice, if any, by the pledging Holder
to

 

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the other Holders and the Servicer that a Pledge has been effected (including the name and address of the applicable Note Pledgee),
the other Holders agree to acknowledge receipt of such notice and thereafter agree: (i) to give such Note Pledgee written
notice of any default by the pledging Holder in respect of its obligations under this Agreement of which default such Holder has
actual knowledge and which notice shall be given simultaneously with the giving of such notice to the pledging Holder; (ii) to
allow such Note Pledgee a period of ten (10) Business Days to cure a default by the pledging Holder in respect of its obligations
to the other Holders hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that no amendment,
modification, waiver or termination of this Agreement or the Servicing Agreement (if the pledging Holder had the right to consent
to such amendment, modification, waiver or termination pursuant to the terms hereof) shall be effective against such Note Pledgee
without the written consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed and
which consent shall be deemed to be given if Note Pledgee shall fail to respond to any request for consent to any such amendment,
modification, waiver or termination within 10 days after request therefor; (iv) that the other Holders shall accept any cure
by such Note Pledgee of any default of the pledging Holder which such pledging Holder has the right to effect hereunder, as if
such cure were made by such pledging Holder; (v) that the other Holders or Servicer shall deliver to Note Pledgee such estoppel
certificate(s) as Note Pledgee shall reasonably request, provided that any such certificate(s) shall be in a form reasonably
satisfactory to the other Holders; and (vi) that, upon written notice (a “Redirection Notice”) to the
Servicer by such Note Pledgee that the pledging Holder is in default beyond any applicable cure periods with respect to the pledging
Holder’s obligations to such Note Pledgee pursuant to the applicable credit agreement or other agreements relating to the
Pledge between the pledging Holder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Holder),
and until such Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee (or at any time that pledging Holder
otherwise directs that such payment be made to Note Pledgee pursuant to a separate notice) shall be entitled to receive any payments
that any Servicer would otherwise be obligated to make to the pledging Holder from time to time pursuant to this Agreement or
any Servicing Agreement. Any pledging Holder hereby unconditionally and absolutely releases the other Holders and any Servicer
from any liability to the pledging Holder on account of any Holder’s or Servicer’s compliance with any Redirection
Notice believed by any Servicer or other 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 any
of the Borrowers or any Affiliate of any of the Borrowers) that is also a Qualified Transferee at any foreclosure or similar sale
held by such Note Pledgee or any transfer in lieu of foreclosure), and such Person’s successor and assigns, as the successor
to the pledging Holder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Transferee
shall assume in writing the obligations of the pledging Holder hereunder accruing from and after such Transfer (i.e., realization
upon the collateral by such Note Pledgee) and agrees to be bound by the terms and 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

 

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until
such Note Pledgee shall have notified such Holder (and any Servicer, as applicable) in writing that its interest in the pledged
Note has terminated.

 

13.         Exercise of Remedies by the Servicer.   (a)  Subject to the terms of this Agreement and the Servicing Agreement and subject to the rights and consents,
where required, of the Directing Holder, the Servicer shall have the sole and exclusive authority with respect to the administration
of, and exercise of rights and remedies with respect to, the Mortgage Loans, 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 a Borrower or any party to the Mortgage Loan Documents, (iii) vote all claims with respect to the Mortgage Loans
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 Loans 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
Loans 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 Loans 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 Loans. 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 Loans, or (B) exercise any remedies with respect to the Mortgage Loans or the Borrowers, including, without
limitation, filing or causing the Lead Note Holder or such Servicer to file any bankruptcy petition against the Borrowers. Each
Holder shall, from time to time, execute such documents as any Servicer shall reasonably require to evidence such assignment with
respect to the rights described in clause (iii) of the first sentence in this Section 13(a).

 

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

 

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

 

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

 

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

 

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

 

(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 Loans, 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 Loans (unless such Person is a Borrower or an agent or Affiliate of a
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, 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 the Lead Note Seller from the trust
fund established under the Servicing Agreement in connection with a material breach of representation or warranty made by the
Lead Note Seller with respect to the Lead Note or material document defect with respect to the documents delivered by the Lead
Note Seller 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 13 shall be subject in all

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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.

 

14.         Rights of the Directing Holder.    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 Loans. 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 Loans as the Directing
Holder may deem advisable, subject to the terms of the Servicing Agreement.

 

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

 

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.

 

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

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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 Special Servicer’s responsibilities under the Servicing Agreement.

 

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.

 

15.         Appointment of Special Servicer.    Subject to the terms of the Servicing Agreement, the Directing Holder shall have the right at any time and from time to time,
with or without cause, to replace the Special Servicer then acting with respect to the Mortgage Loans 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 A-1 Notes PSA and the UBS-C10 PSA a written notice stating
such designation and by satisfying the other conditions required under the Servicing Agreement (including, without limitation,
a Rating Agency Confirmation, if required by the terms of the Servicing Agreement), if any.

 

The Directing Holder
agrees and acknowledges that prior to the A-1 Notes Securitization, the Special Servicer could be terminated under the UBS-C10
PSA in connection with a “servicer termination event” thereunder, or otherwise based on a recommendation by the operating
advisor under the UBS-C10 PSA 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 UBS-C10 PSA (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.

 

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16.         Rights of the Non-Directing Holders.   (a)  The Servicer shall be required (and the Servicing Agreement shall require the Servicer):

 

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

 

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

 

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

 

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

 

17.          Advances;
Reimbursement of Advances.   (a)  From time to time, (i) pursuant to terms of the Servicing Agreement, the Lead Servicer and/or the related
Trustee may be obligated to make (1) Property Advances with respect to the Mortgage Loans or the Mortgaged Properties 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 Master Servicer and/or the related Trustee may be obligated to make P&I Advances with respect to a Non-Lead
Note. The Lead Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Non-Lead
Note and the related Non-Lead Master Servicer and/or the related Trustee will not be required to make any P&I Advance with
respect to any Lead Note or any Property Advance. The Lead Servicer, each Non-Lead Master Servicer and any Trustee will be entitled
to interest on any Advance made in the manner and from the sources provided in the A-1 Notes PSA or the UBS-C10 PSA, 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 Loans, 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 Loans are insufficient to reimburse the
Lead Servicer for any Property Advance and/or interest thereon and the Lead Servicer or the related Trustee, as applicable, obtains
funds from general collections of the Lead Securitization as a reimbursement for a Property Advance or interest thereon, each
Non-Lead Note Holder (including any Securitization into which any Non-Lead Note is deposited) shall be required to, promptly following
notice from the Lead Servicer, pay to the Lead Securitization for its pro rata share of such Property Advance and/or interest
thereon at the Reimbursement Rate. In addition, each Non-Lead Note Holder (including any Securitization into which any Non-Lead
Note is deposited) shall promptly reimburse the Lead Servicer or the related Trustee for such Non-Lead Note Holder’s pro
rata share of any fees, costs or expenses incurred in connection with the servicing and administration of the Mortgage Loans
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 Loans are insufficient for
reimbursement of such amounts).

 

(d)          The parties to each of the A-1 Notes PSA and the UBS-C10 PSA shall each be entitled to make their own recoverability determination
with respect to a P&I Advance based on the information that they have on hand and in accordance with the A-1 Notes PSA or
the UBS-C10 PSA, 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.

 

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18.         Provisions Relating to Securitization.

 

(a)          New
Notes. For so long as TTRS, LCF or an Affiliate of LCF (an “Initial Note Holder”) is the owner of any Notes,
such Initial Note Holder shall have the right, subject to the terms of the applicable Mortgage Loan Documents, to cause the applicable
Borrower to execute amended and restated notes (“Amended Notes”) or additional notes (“New Notes”)
reallocating the principal of the Note or Notes that it owns (but in no case any Note that it does not then own) among Amended
Notes and New Notes or severing a Note into one or more further “component” notes in the aggregate principal amount
equal to the then outstanding principal balance of the Note or Notes being amended or replaced (“Old Notes”),
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 Old Notes prior to such amendments, (ii) all Amended Notes and New Notes continue to have the
same interest rate as the Old Note of which it was a part prior to such amendments, (iii) all Amended Notes and New Notes pay
pro rata and on a pari passu basis with the other 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 Amended Notes and/or 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 applicable Loan Agreement and this Agreement (or to
amend and restate the applicable 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 and (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. Rating Agency Confirmation shall not be required for any amendments to this Agreement required to facilitate the
terms of this Section 18(a). The Initial Note Holder whose Note is being reallocated or split pursuant to this Section
18(a) shall reimburse the other Holders for all costs and expenses incurred by the other Holders in connection with the reallocation
or split.

 

(b)         Each Non-Lead Note Holder agrees that (if the related Non-Lead Note is included in a Securitization other than the Lead Securitization)
it shall cause the 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;

 

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

 

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

 

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

 

(c)         The A-1 Notes Holder shall provide the Depositor, the Non-Lead Servicer and the Non-Lead Special Servicer under the UBS-C10 PSA
(as of the A-1 Notes Securitization

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Date) (provided such party is not also a party to the A-1 Notes PSA) notice of the
A-1 Notes Securitization in writing (which may be by email) prior to or promptly following the A-1 Notes Securitization Date.
Unless accompanied by the A-1 Notes PSA, such notice shall contain contact information for each of the parties to the A-1 Notes
PSA and the identity of the Controlling Class Representative under such A-1 Notes PSA. In addition, after the A-1 Notes Securitization
Date, the A-1 Notes Holder shall send a copy of the A-1 Notes PSA to the Depositor, the Non-Lead Servicer and the Non-Lead Special
Servicer under the UBS-C10 PSA (as of the A-1 Notes Securitization Date) provided such party is not also a party to the A-1 Notes
PSA.

 

(d)         The Lead PSA 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 such
Non-Lead Note Holder on the applicable Master Servicer Remittance Date;

 

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

 

(v)         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 related 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, and Form 8K), and other materials specified in a Non-Lead Servicing
Agreement 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

 

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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 Non-Lead Servicing Agreement;

 

(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, the Servicing Agreement and the Servicing Standard;

 

(vii)       with respect to any Non-Lead Note, the Master Servicer shall withdraw from the related Collection Account and remit to the Holder
of the applicable Non-Lead Note, within one (1) Business Day of receipt of properly identified funds, any amounts that represent
late collections or principal prepayments on such Non-Lead Note or any successor REO Property with respect thereto (exclusive
of any portion of such amount payable or reimbursable to any third party in accordance with this Agreement), unless such amount
would otherwise be included in the monthly remittance to the Holder of such Non-Lead Note for the month of receipt; 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 related Non-Lead
Master Servicer within one Business Day of receipt of properly identified funds but, in any event, the Master Servicer shall remit
such amounts within two Business Days 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 master servicer and special servicer under any Non-Lead Servicing Agreement shall be a third-party beneficiary of the Servicing
Agreement with respect to

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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;

 

(xi)         it shall 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)       provide that “servicer termination events” (or any analogous term under the Servicing Agreement) include customary
market termination events with respect to failure to make advances, failure to remit payments to the Non-Lead Note Holders as
required, failure to deliver (or cause to be delivered) materials or information required in order for the Non-Lead Note Holders
or the depositor under a 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 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)       provide that if a Non-Lead Note becomes the subject of an “asset review” under a Non-Lead Servicing Agreement, the
applicable parties to the Servicing Agreement are required to reasonably cooperate with the related asset representations reviewer
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 related 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)       any conflict between the Lead PSA and this Agreement will be resolved in favor of this Agreement; and

 

    -33-

     

    

 

(xvi)      in the case of the A-1 Notes PSA, have provisions materially consistent with those set forth in the UBS-C10 PSA with respect to:

 

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

 

(B) 
 the authority of the servicers in the UBS-C10 Securitization to grant or agree or consent to material modifications, waivers
and amendments to the Mortgage Loans, or to approve material assignments and assumptions or material additional indebtedness in
connection with the Mortgage Loans;

 

(C) 
 requirements to obtain an appraisal or appraisal update following a transfer of the Mortgage Loans 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 A-1 Notes PSA (which shall be substantially similar to those set
forth in the UBS-C10 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 0.00125% per annum, 0.25% per annum, 1.00% and
1.00%, respectively),

 

provided,
however, that (1) this clause (xvi) 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 this Agreement shall control.

 

Any
conflict between the Lead PSA and this Agreement will be resolved in favor of this Agreement.

 

(e)          If any provision required to be included in the A-1 Notes PSA or the UBS-C10 PSA 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 A-1 Notes
PSA or the UBS-C10 PSA, as the case may be.

 

(f)          
At no time shall the A-1 Notes be included in different securitizations nor shall either A-1 Note be securitized without the other
A-1 Note. Additionally, prior to the A-1 Notes Securitization, the A-1 Notes shall be held by the same Person.

 

19.         Governing Law; Waiver of Jury Trial.   THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT, THE RELATIONSHIP OF THE PARTIES
TO THIS AGREEMENT, AND/OR

 

    -34-

     

    

 

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

 

20.         Modifications.   This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed by the parties hereto.
Additionally, from and after a Securitization, except to cure any ambiguity or to correct any error or as set forth in Section
18(a), (b) and (c), 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.

 

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

 

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

 

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

 

24.         Notices.    Unless otherwise expressly provided herein in the case of any specific notice, 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.

 

    -35-

     

    

 

25.         Custody of Mortgage Loan Documents.    The originals of all of the Mortgage Loan Documents (other than the A-1 Notes) will
be held by the UBS-C10 Trustee (or by a custodian on its behalf) under the terms of the UBS-C10 PSA on behalf of all of the Holders
until the A-1 Notes Securitization Date, at which time the originals of all of the Mortgage Loan Documents (other than the UBS
C-10 Notes) will be transferred to and held by the A-1 Notes Trustee (or by a custodian on its behalf) on behalf of all of the
Holders.

 

26.         Replacement Co-Lender Agreement.     In the event that the Mortgage Loans are no longer cross-collateralized and cross-defaulted, the BCC Holders shall enter into
a replacement co-lender agreement with respect to the BCC Mortgage Loan and the BP Holders shall enter into a replacement co-lender
agreement with respect to the BP Mortgage Loan. Each such replacement co-lender agreement shall be on substantially similar terms
as this Agreement; except that: (i) notwithstanding the terms of the applicable Mortgage Loan Documents, the replacement co-lender
agreement governing any particular Mortgage Loan shall treat and deem the other Mortgage Loan and the Notes related thereto as
having been paid in full and no longer outstanding and the Mortgaged Property primarily related to such other Mortgage Loan released;
and (ii) the “control note” under the replacement co-lender agreement governing the BP Mortgage Loan and the BP Notes
shall be BP Note A-1.

 

[NO
FURTHER TEXT ON THIS PAGE]

 

    -36-

     

    

 

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

 

	 	BCC Note A-1 Holder:
	 	TUEBOR TRS II LLC
	 	 	 
	 	By:	/s/ David M. Traitel
	 		Name: David M. Traitel
	 	 	Title:   Managing Director

 

	 	BCC Note A-2 Holder:
	 	TUEBOR TRS II LLC
	 	 	 
	 	By:	/s/ David M. Traitel
	 		Name: David M. Traitel
	 	 	Title:   Managing Director

 

	 	BP Note A-1 Holder:
	 	TUEBOR TRS II LLC
	 	 	 
	 	By:	/s/ David M. Traitel
	 		Name: David M. Traitel
	 	 	Title:   Managing Director

 

	 	BP Note A-2 Holder:
	 	TUEBOR TRS II LLC
	 	 	 
	 	By:	/s/ David M. Traitel
	 		Name: David M. Traitel
	 	 	Title:   Managing Director

 

Signature
Page

Branson
Co-Lender Agreement

 

    

     

    

 

EXHIBIT
A

 

MORTGAGE
LOAN SCHEDULE

 

A.       Description
of Mortgage Loans

 

1.         BCC
Mortgage Loan

 

	Borrower:	Branson
    Landing Hotel, L.L.C.
	Mortgage
    Loan Origination Date:  	March
    16, 2018
	Initial
    Principal Amount of Mortgage Loan:	$17,750,000
	Co-Lender
    Closing Date Mortgage Loan Principal Balance:	$17,730,608
	Location
    of Mortgaged Property:	Branson,
    Missouri
	Current
    Use of Mortgaged Property:	Hospitality
    – Full Service
	Mortgage
    Interest Rate:	5.510%
    per annum
	Maturity
    Date:	April
    6, 2028

 

2.         BP
Mortgage Loan

 

	Borrower:	Boutique
    Hotel Development Company, L.L.C.
	Mortgage
    Loan Origination Date:  	March
    16, 2018
	Initial
    Principal Amount of Mortgage Loan:	$13,500,000
	Co-Lender
    Closing Date Mortgage Loan Principal Balance:	$13,485,251
	Location
    of Mortgaged Property:	Branson,
    Missouri
	Current
    Use of Mortgaged Property:	Hospitality
    – Full Service
	Mortgage
    Interest Rate:	5.510%
    per annum
	Maturity
    Date:	April
    6, 2028

 

    A-1

     

    

 

B.    
   Description of Notes

 

1.         BCC
Notes

 

	Mortgage
    Loan Origination Date:	March
    16, 2018
	Initial
    Note A-1 Principal Balance:	$10,650,000
	Initial
    Note A-2 Principal Balance:	$7,100,000
	Initial
    Note A-1 Percentage Interest:	60%
	Initial
    Note A-2 Percentage Interest:	40%
	Note A-1
    Interest Rate:	5.510%
    per annum
	Note A-2
    Interest Rate:	5.510%
    per annum
	Note A-1
    Default Interest Rate:	Lesser
of (i) the maximum rate permitted by applicable law, or (ii) five percent (5%) above the Note A-1 Interest Rate, compounded monthly.

	Note A-2
    Default Interest Rate:	Lesser
of (i) the maximum rate permitted by applicable law, or (ii) five percent (5%) above the Note A-2 Interest Rate, compounded monthly.

 

2.         BP
Notes

 

	Mortgage
    Loan Origination Date:	March
    16, 2028
	Initial
    Note A-1 Principal Balance:	$8,100,000
	Initial
    Note A-2 Principal Balance:	$5,400,000
	Initial
    Note A-1 Percentage Interest:	60%
	Initial
    Note A-2 Percentage Interest:	40%
	Note A-1
    Interest Rate:	5.510%
    per annum
	Note A-2
    Interest Rate:	5.510%
    per annum
	Note A-1
    Default Interest Rate:	Lesser
of (i) the maximum rate permitted by applicable law, or (ii) five percent (5%) above the Note A-1 Interest Rate, compounded monthly.

	Note A-2
    Default Interest Rate:	Lesser
of (i) the maximum rate permitted by applicable law, or (ii) five percent (5%) above the Note A-2 Interest Rate, compounded monthly.

 

    A-2

     

    

 

EXHIBIT
B

 

Holders:

 

Tuebor
TRS II LLC

c/o
Ladder Capital Finance LLC

345
Park Avenue, 8th Floor

New
York, New York 10154

Attention:
Mark Ableman

 

with
a copy to:

 

Tuebor
TRS II LLC

c/o
Ladder Capital Finance LLC

345
Park Avenue, 8th Floor

New
York, New York 10154

Attention:
Kelly Porcella

 

with
a copy to:

 

Stroock
& Stroock & Lavan LLP

180
Maiden Lane

New
York, New York 10038

Attention:
William Campbell, Esq.

 

with
a copy to:

 

Wells
Fargo Bank National Association

Commercial
Mortgage Servicing

MAC
D1050-084

401
South Tryon Street, 8th Floor

Charlotte,
NC 28202

Attention:
Asset Management

 

    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

KKR
Real Estate Manager Finance LLC

 

    C-1

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