Document:

Exhibit 4.16

EXECUTION VERSION

AGREEMENT BETWEEN NOTEHOLDERS

Dated as of February 1, 2022 by and among

BANK OF MONTREAL

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

and

BANK OF MONTREAL

(Initial Note B Holder)

111 River Street

     

     

    

THIS AGREEMENT BETWEEN NOTEHOLDERS,
dated as of February 1, 2022, by and between BANK OF MONTREAL, a Canadian chartered bank (together with its successors in interest and
assigns, “BMO”) (in its capacity as initial owner of Note A-1, Note A-2 and Note A-3, the “Initial Note A
Holder”, and in its capacity as the initial agent, the “Initial Agent”) and BMO (in its capacity as initial
owner of Note B, the “Initial Note B Holder”, and, together with the Initial Note A Holder, the “Initial Noteholders”).

W I T N E S S E T H:

WHEREAS, pursuant to the
Mortgage Loan Agreement (as defined herein), on January 21, 2022, BMO, as lender (the “Original Lender”) originated
a certain loan in the aggregate principal amount of $153,750,000 (the “Mortgage Loan”) to the mortgage loan borrowers
described on the Mortgage Loan Schedule (as defined herein) (collectively, the “Borrower”), which Mortgage Loan was
at origination evidenced, inter alia, by a single promissory note made by the Borrower in favor of the Initial Noteholders;

WHEREAS, BMO and the Borrower
have agreed, pursuant to that certain Note Splitter Agreement, dated as of January 24, 2022, between such parties, to split the Original
Note into four (4) promissory notes (collectively, the “Replacement Notes”) and the Borrower has executed and delivered:
(i) to BMO three (3) promissory notes designated as Note A-1, in the original principal amount of $37,500,000, Note A-2, in the original
principal amount of $28,000,000, and Note A-3, in the original principal amount of $12,000,000; and (ii) to BMO one (1) promissory note
designated as Note B, in the original principal amount of $76,250,000;

WHEREAS, as of the date hereof,
the Mortgage Loan is evidenced by the Replacement Notes set forth in the following table (with the “Note Designations” being
as defined herein) and has the characteristics set forth on the Mortgage Loan Schedule;

 

	
    Note
    Designation
	

    Principal Balance as of

    January 24, 2022

	Note A-1	$37,500,000
	Note A-2	$28,000,000
	Note A-3	$12,000,000
	Note B	$76,250,000

WHEREAS, on the date of
this Agreement, BMO intends (but is not required) to transfer Note A-1, Note A-2, Note A-3 and Note B to BMO Commercial Mortgage Securities
LLC or other depositors for inclusion in one or more Securitizations;

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

      

     

    

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

Section 1.               
Definitions. References to a “Section,” the “preamble” or the “recitals” are, unless
otherwise specified, to a Section, the preamble or the recitals of this Agreement. Capitalized terms not otherwise defined herein shall
have the meaning ascribed thereto or to any analogous term in the Servicing Agreement. Whenever used in this Agreement, including, without
limitation, in the preamble and the recitals, the following terms shall have the respective meanings set forth below unless the context
clearly requires otherwise.

“A Note”
shall mean each of Note A-1, Note A-2 and Note A-3.

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

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

“Additional Servicing
Expenses” shall mean (a) all Property Protection Advances, fees and/or expenses incurred by and reimbursable to any Servicer,
Trustee, Certificate Administrator or fiscal agent pursuant to the Servicing Agreement relating solely to the Mortgage Loan, and (b) all
interest accrued on Advances made by (x) any Servicer or Trustee in accordance with the terms of the Servicing Agreement or (y) any Non-Lead
Servicer or Non-Lead Trustee in accordance with the terms of the Non-Lead Securitization Servicing Agreement.

“Advance Interest
Amount” shall mean interest payable on Advances, as specified in the Servicing Agreement or a 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 (but for purposes hereof shall be limited to Advances in respect of the Mortgage
Loan or the Property).

“Affiliate”
shall mean with respect to any specified Person (i) any other Person Controlling or Controlled by or under common Control with such
specified Person (each a “Common Control Party”), (ii) any other Person owning, directly or indirectly, ten percent
(10%) or more of the beneficial interests in such Person or (iii) 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.

“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 the designated office of the Agent in the State of New York, which office at the date of this Agreement is located at Bank
of Montreal, c/o BMO Capital Markets Corp., 151 West 42nd Street, New York, New York 10036, Attention: Mike Birajiclian, Email: Michael.Birajiclian@bmo.com;
with a copy to Bank of Montreal, c/o BMO Capital

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Markets Corp., 151 West 42nd Street, New York,
New York 10036, Attention: Legal Department, Email: BMOCMUSLegal@bmo.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 mean this Agreement Between Noteholders, the exhibits and schedule hereto and all amendments hereof and supplements hereto.

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

“Appraisal Reduction
Amount” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing
Agreement.

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

“Asset Representations
Reviewer” shall mean the asset representations reviewer, if any, appointed pursuant to the Lead Securitization Servicing Agreement.

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

“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.

“B Note”
shall mean Note B.

“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.

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

“Borrower Related
Party” shall have the meaning assigned to such term in Section 15.

“Borrower Restricted
Party” means, individually or collectively, as the context may require, (i) the Borrower, any sponsor of the Borrower, any borrower
under a related mezzanine loan, any guarantor under the Mortgage Loan or a related mezzanine loan, any operating lessee or property manager
of the Property, or any of their respective managers, servicers, agents or affiliates, (ii) a Restricted Holder, (iii) any Person controlling
or controlled by or under common control with the Borrower, any sponsor of the Borrower, any borrower under a related mezzanine loan,
any guarantor under the Mortgage Loan or a related mezzanine loan, any operating lessee or property manager of the Property, or a Restricted
Holder, as applicable, or (iv) any shareholder,

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partner, member or non-member manager, or any
direct or indirect legal or beneficial owner of any interest in the Borrower, any sponsor of the Borrower, any borrower under a related
mezzanine loan, any guarantor under the Mortgage Loan or a related mezzanine loan, any operating lessee or property manager of the Property,
or a Restricted Holder (other than any shareholder, partner, member or owner owning less than a 10% non-controlling direct or indirect
legal or beneficial interest in any of the foregoing). For the purposes of this definition, “control” when used with respect
to any specific Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise and the terms “controlling” and “controlled” have meanings
correlative to the foregoing.

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

“CDO Asset Manager”
with respect to any Securitization Vehicle which is a CDO, shall mean the entity which is responsible for managing or administering the
applicable 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 applicable Note).

“Certificate Administrator”
shall mean the certificate administrator appointed pursuant to the Lead Securitization Servicing Agreement.

“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 Master Servicer.

“Commission”
means the U.S. Securities and Exchange Commission or any successor thereto.

“Companion Distribution
Account” shall have the meaning assigned to such term or the term “Serviced Whole Loan Collection Account” in the
Servicing Agreement or such other analogous term used in the Servicing Agreement.

“Conduit”
shall have the meaning assigned to such term in Section 16(f).

“Conduit Credit
Enhancer” shall have the meaning assigned to such term in Section 16(f).

“Conduit Inventory
Loan” shall have the meaning assigned to such term in Section 16(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

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“Controlling Class
Representative” shall mean the “Controlling Class Representative” as defined in the Servicing Agreement or such
other analogous term used in the Servicing Agreement.

“Controlling Noteholder”
shall mean as of any date of determination (i) the Note B Holder, unless a Note B Control Appraisal Period has occurred and is continuing,
and (ii) if and for so long as a Note B 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 Note A-1 Securitization, references
to the “Controlling Noteholder” herein shall mean the Controlling Class Representative or any other party assigned the rights
to exercise the rights of the “Controlling Noteholder” hereunder, as and to the extent provided in the Servicing Agreement;
and provided further that, if the Note B Holder would be the Controlling Noteholder pursuant to the terms hereof, but any interest
in Note B is held by the Borrower or a Borrower Restricted Party, or the Borrower or Borrower Restricted Party would otherwise be entitled
to exercise the rights of the Controlling Noteholder in respect of Note B, then a Note B Control Appraisal Period shall be deemed to have
occurred. The Note B Holder is the Controlling Holder as of the Closing Date.

“Controlling Noteholder
Representative” shall mean, with respect to the Mortgage Loan, the advisor appointed pursuant to Section 5(a).

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

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

“Default Interest”
shall mean with respect to any Note, interest on such Note at a rate per annum equal to interest accrued thereon at the Default
Rate in excess of the Interest Rate applicable to such Note.

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

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

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

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

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

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

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

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“Indemnified Items”
shall mean, collectively, any claims, losses, penalties, fines, forfeitures, reasonable 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
Property under the Servicing Agreement.

“Indemnified Parties”
shall mean, collectively, (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 the Servicing Agreement, each of the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, any Operating Advisor, any Asset Representations Reviewer
and the Depositor (and any director, officer, employee or agent of any of the foregoing, to the extent such parties are identified as
indemnified parties in the Servicing Agreement in respect of other mortgage loans) and (ii) the Lead Securitization Trust.

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

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

“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 Borrower, any action for the dissolution of the Borrower, any proceeding (judicial
or otherwise) concerning the application of the assets of the 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 Borrower
or any other action concerning the adjustment of the debts of the Borrower, the cessation of business by the Borrower, except following
a sale, transfer or other disposition of all or substantially all of the assets of the Borrower in a transaction permitted under the Mortgage
Loan Documents; provided, however, that following any such permitted transaction affecting the title to the Property, the
Borrower for purposes of this Agreement shall be defined to mean the successor owner of the 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 Borrower, the term “Borrower” shall refer to any such entity.

“Insurance and Condemnation
Proceeds” shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing
Agreement.

“Interest Rate”
shall, with respect to any Note, have the meaning assigned to such term in the Mortgage Loan Agreement.

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

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

“KBRA”
shall mean Kroll Bond Rating Agency, LLC, or its successor in interest.

“Lead Securitization”
shall mean the sale by the holder of a Lead Securitization Note of all of such Note (or the first securitization of any portion of a Lead
Securitization Note, if applicable) to the Depositor, who will in turn include such portion of such Note as part of a securitization of
one or more mortgage loans.

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

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

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

“Lead Securitization
Servicing Agreement” shall mean a trust and servicing agreement, subject to Section 2 hereof, to be entered into
in connection with the Lead Securitization, by and among (a) the Person who serves as Trustee from and after the Lead Securitization
Date, (b) the Person who serves as Servicer from and after the Lead Securitization Date, (c) the Person which serves as Special
Servicer from and after the Lead Securitization Date, (d) the Person who serves as Certificate Administrator from and after the Lead Securitization
Date and (e) the Depositor, and any other additional Persons that may be party to such pooling and servicing agreement; 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 and (iii) requested by the Rating
Agencies or any purchaser of subordinate certificates.

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

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

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

“Major Decisions”
shall have the meaning given to such term or any one or more analogous terms in the Servicing Agreement; provided that at any time that
the Lead Securitization Note is not included in the Lead Securitization, “Major Decision” shall mean:

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

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

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

(iv)           
any sale of the Mortgage Loan (when it is a Defaulted Mortgage Loan) or the Property (when it is held as Foreclosed Property) for
less than the outstanding principal balance of the Mortgage Loan, all accrued and unpaid interest (other than Accrued Interest) at the
respective Interest Rates for the Notes and all Additional Servicing Expenses;

(v)           
any determination to bring the Property into compliance with applicable environmental laws or to otherwise address any Hazardous
Materials (as defined in the Servicing Agreement) located at the Property or an REO Mortgage Loan;

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

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

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

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

(x)           
any property management company changes, including, without limitation, approval of a new property manager or the termination of
a manager and appointment of a new property manager or franchise changes, and any new management agreement or amendment, modification
or termination of any management agreement (in each case, if the lender is required to consent or approve such changes under the Mortgage
Loan Documents);

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

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

(xiii)           
any determination of an Acceptable Insurance Default;

(xiv)           
any determination by the Master Servicer to transfer the Mortgage Loan to the Special Servicer under the circumstances where the
Master Servicer determines, in its reasonable business judgment, exercised in accordance with the Accepted Servicing Practices, that a
default consisting of a failure to make a payment of principal or interest is reasonably foreseeable or there is a significant risk of
such default or any other default that is likely to impair the use or marketability of the Property or such other analogous event described
in the definition of Servicing Transfer Event; or

(xv)           
any modification, waiver or amendment of any lease, the execution of any new lease or the granting of a subordination and nondisturbance
or attornment agreement in connection with any lease, at the Property if it would be a Major Lease (as defined in the Mortgage Loan Agreement).

“Master Servicer”
shall mean the servicer or master servicer appointed pursuant to the Servicing Agreement.

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

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

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

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

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

“Mortgage Loan Agreement”
shall mean the Loan Agreement, dated as of January 21, 2022, between the Borrower, as borrower, and the Original Lender, as lender, as
the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

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

“Mortgage Loan Schedule”
shall mean the schedule attached as Exhibit A to this Agreement.

“Net Interest Rate”
shall mean, with respect to any Note, the Interest Rate for such Note minus the Servicing Fee Rate applicable to such Note.

“New Note(s)”
shall have the meaning assigned to such term in Section 35.

“Non-Controlling
Note” shall mean each Note other than the Note that entitles its holder to be the Controlling Noteholder.

“Non-Controlling
Noteholder” shall mean each Noteholder other than the Controlling Noteholder; provided that, if at any time a Non-Controlling
Note is held by (or, at any time a Non-Controlling Note is included in a Non-Lead Securitization, the related Non-Lead Securitization
Subordinate Class Representative is) a Borrower Restricted Party, no Person shall be entitled to exercise the rights of such Non-Controlling
Noteholder with respect to such Non-Controlling Note.

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

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

“Non-Lead Certificate
Administrator” shall mean the “certificate administrator” or such other analogous term under a Non-Lead Securitization
Servicing Agreement.

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

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

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

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

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

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

“Non-Lead Securitization
Note” shall mean a Senior Note that is neither the Lead Securitization Note nor otherwise part of the Lead Securitization.

“Non-Lead Securitization
Noteholder” shall mean each holder of a Non-Lead Securitization Note, provided that at any time a Senior Note that is
not a Lead Securitization Note is included in a Securitization other than the Lead Securitization, references to the “Non-Lead Securitization
Noteholder” herein shall mean the Non-Lead Securitization Subordinate Class Representative under the related Non-Lead Securitization
Servicing Agreement, as and to the extent provided in the related Non-Lead Securitization Servicing Agreement and as to the identity of
which the Lead Securitization Noteholder (and the Master Servicer and the Special Servicer) has been given written notice. 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 a “Non-Lead Securitization Noteholder” herein or under the Servicing Agreement and, to
the extent that the related Non-Lead Securitization Servicing Agreement assigns such rights to more than one party, for purposes of this
Agreement, the Non-Lead Securitization Servicing Agreement shall designate one party to deal with the 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) (such party, the related “Non-Lead Securitization
Noteholder Representative”); 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 as having been designated as the Non-Lead Securitization Noteholder Representative with respect to such Non-Controlling
Note for all purposes of this Agreement.

Prior to Securitization of
any Non-Lead Securitization Note by the related Non-Lead Securitization Noteholder (including any New Notes), all notices, reports, information
or other deliverables required to be delivered to such Non-Lead Securitization 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 each Non-Lead Securitization Noteholder Representative and, when so delivered to each Non-Lead Securitization Noteholder
Representative, 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 with respect to such items hereunder or under the Servicing Agreement. Following Securitization
of any Non-Lead Securitization Notes by the related Non-Lead Securitization Noteholder, all notices, reports, information or other deliverables
required to be delivered to such Non-Lead Securitization 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
Master Servicer and the related Non-Lead Special Servicer (who then may forward such items to the party entitled to receive such items
as and to the extent provided in the related Non-Lead Securitization Servicing Agreement) and, when

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so delivered to the related Non-Lead Master
Servicer and the related 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 with respect to such items hereunder or under the Servicing
Agreement.

“Non-Lead Securitization
Noteholder Representative” shall have the meaning assigned to such term in the definition of “Non-Lead Securitization
Noteholder”.

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

“Non-Lead Securitization
Subordinate Class Representative” shall mean the holders of the majority of the class of securities issued in a Non-Lead Securitization
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 any 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” or a “Non-Controlling Noteholder” is held by a Borrower Restricted Party, no Person shall be entitled to
exercise the rights of the related Non-Lead Securitization Subordinate Class Representative.

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

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

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

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

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

“Note”
shall mean any of the A Notes or the B Note.

“Note A Holder(s)”
shall mean the Noteholder(s) of A Notes.

“Note A-1”
shall mean that certain Promissory Note (Note A-1), dated January 24, 2022, as the same may be amended, modified, supplemented, extended,
restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

“Note A-2”
shall mean that certain Promissory Note (Note A-2), dated January 24, 2022, as the same may be amended, modified, supplemented extended,
restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

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“Note A-3”
shall mean that certain Promissory Note (Note A-3), dated January 24, 2022, as the same may be amended, modified, supplemented extended,
restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

“Note B”
shall mean that certain Promissory Note (Note B), dated January 24, 2022, as the same may be amended, modified, supplemented extended,
restated or replaced, and shall include any replacement promissory notes issued in respect thereof.

“Note B Control
Appraisal Period” shall mean any period with respect to the Mortgage Loan, if and for so long as:

(a)       (1)
the initial Note B 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, Note B after the date of creation of Note B, (y) any Appraisal Reduction Amount for the Mortgage
Loan that is allocated to Note B and (z) any losses realized with respect to the Mortgaged Property or the Mortgage Loan that are allocated
to Note B, is less than

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

“Note B Holder”
shall mean the Noteholder of the B Note.

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

“Note Pledgee”
shall have the meaning assigned to such term in Section 16(e).

“Note Register”
shall have the meaning assigned to such term in Section 18.

“Noteholder”
and “Note Holder” shall each mean, with respect to any Note, the Initial Noteholder thereof, or any subsequent holder
of such Note, together with its successors and assigns.

“Operating Advisor”
shall mean the operating advisor, if any, appointed pursuant to the Lead Securitization Servicing Agreement.

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

“Percentage Interest”
with respect to any Note shall mean a fraction, expressed as a percentage, the numerator of which is the Principal Balance of such Note
and the denominator of which is the sum of the Principal Balances of all Notes.

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

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commercial real estate, (ii) investing through
a fund or funds with committed capital of at least $500,000,000 and (iii) not subject to a proceeding relating to the bankruptcy, insolvency,
reorganization or relief of debtors.

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

“Pledge”
shall have the meaning assigned to such term in Section 16(e).

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

“Principal Balance”
shall mean, with respect to any Note as of any date of determination, the principal balance as of the date of this Agreement set forth
on the Mortgage Loan Schedule, less any payments of principal thereon or reductions in such amount pursuant to Section 3 or
Section 4, as applicable.

“Pro Rata and Pari
Passu Basis” shall mean with respect to the A Notes and the Note A Holders, the allocation of any particular payment, collection,
cost, expense, liability or other amount among the A Notes or the Note A Holders, as the case may be, in accordance with a specified basis
and without any priority of any A Note or any Note A Holder over another A Note or Note A Holder, as the case may be, and in any event
such that each A Note or Note A Holder, as the case may be, is allocated its respective pro rata portion (in accordance with the
applicable specified basis) of such particular payment, collection, cost, expense, liability or other amount.

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

“Property Protection
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, but only as such term relates to the Mortgage Loan or the Property.

“Qualified Institutional
Lender” shall mean each of the Initial Noteholders (and any Affiliates and subsidiaries of such entity) and any other Person
that is:

(a)  
an entity Controlled (as defined below) by, under common Control with or Controlling any Initial Noteholder, or

(b)  
one or more of the following:

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

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

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(1), (2), (3) or (7) of Regulation D under
the Securities Act of 1933, as amended, or

(iii)           
a Qualified Trustee (or in the case of a CDO, a single purpose bankruptcy remote entity which contemporaneously assigns or pledges
its Note, or a participation interest therein (or any portion thereof) to a Qualified Trustee) in connection with (a) a securitization
of, (b) the creation of collateralized debt obligations (“CDO”) secured by, or (c) a financing through an “owner
trust” of, a Note (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 any classes of securities issued in connection with the closing of such securitization; (2) in the case of a Securitization
Vehicle that is not a CDO, the special servicer of such Securitization Vehicle has a Required Special Servicer Rating or is otherwise
acceptable to the Rating Agencies rating each Securitization (such entity, an “Approved Servicer”) and such Approved
Servicer is required to service and administer such Note in accordance with servicing arrangements for the assets held by the Securitization
Vehicle which require that such Approved Servicer act in accordance with a servicing standard notwithstanding any contrary direction or
instruction from any other Person; or (3) in the case of a Securitization Vehicle that is a CDO, the CDO Asset Manager and, if applicable,
each Intervening Trust Vehicle that is not administered and managed by a CDO Asset Manager which is a Qualified Institutional Lender,
are each a Qualified Institutional Lender under clauses (i), (ii), (iii), (iv)or (v) of this definition,
or

(iv)           
an investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments
of at least $500,000,000, in which (A) the applicable Noteholder, (B) a Person that is otherwise a Qualified Institutional Lender under
clauses (i), (ii) or (v) (with respect to an institution substantially similar to the entities referred to in clause
(i) or (ii) above), or (C) a Permitted Fund Manager, acts as a general partner, managing member, or the fund manager responsible
for the day-to-day management and operation of such investment vehicle and provided that at least 50% of the equity interests in such
investment vehicle are owned, directly or indirectly, by one or more entities that are otherwise Qualified Institutional Lenders (without
regard to the capital surplus/equity and total asset requirements set forth below in the definition), or

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

(vi)           
in the case of any entity referred to in clause (b)(i), (b)(ii), (b)(iii), (b)(iv)(B) or (b)(v) of this definition, (x) such entity
has at least $200,000,000 in capital/statutory surplus or shareholders’ equity (except with respect to a pension advisory firm,
asset manager or similar fiduciary) and at least $500,000,000 in total assets (in name or under management), and (y) is regularly engaged
in the business of making or owning commercial real estate loans (or interests therein) similar to the Mortgage Loan (or mezzanine loans
with respect thereto) or owning junior

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CMBS securities or owning or operating
commercial real estate properties; provided that, in the case of the entity described in clause (iv)(B) above, the requirements of this
clause (y) may be satisfied by a general partner, managing member, or the fund manager responsible for the day-to-day management and operation
of such entity, or

(vii)           
a Person that is otherwise a Qualified Institutional Lender but is acting in an agency capacity for a syndicate of lenders where
at least 51% of the lenders in such syndicate are otherwise Qualified Institutional Lenders under clauses (b)(i), (ii),
(iv), (v) and (vi) above, or

(c)  
any entity Controlled (as defined below) by any of the entities described in clause (b) above or approved by the Rating
Agencies hereunder as a Qualified Institutional Lender for purposes of this Agreement, or as to which the Rating Agencies have stated
they would not review such entity in connection with the subject transfer.

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

“Qualified Trustee”
means (i) a corporation, national bank, national banking association or a trust company, organized and doing business under the laws of
any state or the United States of America, authorized under such laws to exercise corporate trust powers and to accept the trust conferred,
having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by federal or state authority,
(ii) an institution insured by the Federal Deposit Insurance Corporation or (iii) an institution whose long-term senior unsecured debt
is rated either of the then in effect top two rating categories of each of the applicable Rating Agencies.

“Rating Agencies”
shall mean any of (a) S&P, (b) Moody’s, (c) Fitch, (d) DBRS Morningstar and (e) KBRA or, (f) 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 the Depositor or a Non-Lead Depositor to rate the securities issued in connection with the Securitization of any A Note;
provided, however, that, at any time during which any Note is an asset of one or more Securitizations, “Rating Agencies” or
“Rating Agency” shall mean only those rating agencies that are engaged by the Depositor or such Non-Lead Depositor, as applicable,
from time to time to rate the securities issued in connection with the Securitization of such Note.

“Rating Agency Confirmation”
shall mean, after a Securitization, the meaning given thereto or any analogous term in the Servicing Agreement including any deemed Rating
Agency Confirmation.

“Redirection Notice”
shall have the meaning assigned to such term in Section 16(e).

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

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

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

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

“Required Special
Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”, (ii)
in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special Servicer,
(iii) in the case of Moody’s, such special servicer is acting as special servicer for one or more loans included in a commercial
mortgage loan securitization that was rated by Moody’s within the twelve (12) month period prior to the date of determination, and
Moody’s has not downgraded or withdrawn the then-current rating on any class of commercial mortgage securities or placed any class
of commercial mortgage securities on watch citing the continuation of such special servicer as special servicer of such commercial mortgage
loans, (iv) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material factor in any
qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade
or withdrawal) of securities in a transaction serviced by such special servicer prior to the time of determination, and (v) in the case
of DBRS Morningstar, either a commercial mortgage servicer or special servicer (a) that has a current ranking from DBRS Morningstar of
at least MORS3, or (b) if not rated by DBRS Morningstar, that is currently acting as servicer or special servicer, as applicable, for
a commercial mortgage-backed securities transaction rated by DBRS Morningstar and as to which DBRS Morningstar has not cited servicing
concerns with respect to 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, which placement on “watch status”
has not been withdrawn within 60 days without any ratings downgrade or withdrawal) of securities in such commercial mortgage-backed securities
transaction serviced by the applicable servicer prior to the time of determination.

“Restricted Holder”
shall mean any holder of a related mezzanine loan (or any affiliate, manager or agent thereof) or an owner of any interest in any related
mezzanine loan (whether legally, beneficially or otherwise, including as a holder of a note evidencing a related mezzanine loan, a holder
of a participation interest in a related mezzanine loan or a beneficial owner of any interest in a related mezzanine loan or any securities
collateralized by a related mezzanine loan) (a) as to which an event of default has occurred under such mezzanine loan giving

    17 

     

    

rise to an automatic acceleration of such mezzanine
loan or the right of the lender thereunder to accelerate such mezzanine loan or (b) as to which foreclosure proceedings against the related
collateral have been initiated.

“Reverse Sequential
Order” shall mean: (a) first, to the reduction of the Principal Balance of the B Note, until the Principal Balance of
the B Note is reduced to zero; and (b) second, to the reduction of the Principal Balances of the A Notes, on a Pro Rata and Pari
Passu Basis based on the respective Principal Balances of such Notes, until the Principal Balance of each A Note is reduced to zero.

“Risk Retention
Requirements” shall mean the credit risk retention requirements of Section 15G of the Exchange Act (15 U.S.C. §78o-11),
as added by Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

“Risk Retention
Rules” shall mean the joint final rule that was promulgated to implement the Risk Retention Requirements (which such joint final
rule has been codified, inter alia, at 12 C.F.R. Part 43), as such rule may be amended from time to time, and subject to such clarification
and interpretation as have been provided by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve
System, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the Commission and the Department of Housing and
Urban Development in the adopting release (79 Fed. Reg. 77601 et seq.) or by the staff of any such agency, or as may be provided by any
such agency or its staff from time to time, in each case, as effective from time to time as of the applicable compliance date specified
therein.

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

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

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

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

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which an A Note or the B Note is held.

“Senior Notes”
shall mean the A Notes, individually or collectively, as the context may require.

“Senior Noteholder(s)”
shall mean the Note A Holders, individually or collectively, as the context may require.

“Sequential Order”
shall mean (a) first, to the reduction of the Principal Balances of the A Notes, on a Pro Rata and Pari Passu Basis based on the
respective Principal Balances of such Notes, until the Principal Balance of each A Note is reduced to zero; and (b) second, to
the

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reduction of the Principal Balance of the B
Note, until the Principal Balance of the B Note is reduced to zero.

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

“Servicing Agreement”
shall mean, with respect to the Mortgage Loan, the Lead Securitization Servicing Agreement, together with any amendment, restatement,
supplement, replacement or modification thereto entered into in accordance with the terms hereof or thereof, or any Substitute Servicing
Agreement.

“Servicing Fee Rate”
shall be the per annum rate at which primary servicing fees are payable in respect of the Mortgage Loan as set forth in the Servicing
Agreement. The Servicing Fee Rate shall not reflect any master servicing fees payable by any Noteholder.

“Servicing Transfer
Event” shall have the meaning assigned to such term (or any term similar thereto including “Specially Serviced Loan”)
in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

“Special Servicer”
shall mean the special servicer appointed pursuant to the Servicing Agreement and this Agreement.

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

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

“Substitute Servicing
Agreement” means a servicing agreement that contains servicing provisions which are the same as or more favorable to the Non-Lead
Noteholders, in substance, to those in the Servicing Agreement (including, without limitation, all applicable provisions relating to delivery
of information and reports necessary for any Non-Lead Securitization to comply with any applicable reporting requirements under the Securities
Exchange Act of 1934, as amended) and all references herein to the “Servicing Agreement” shall mean such subsequent servicing
agreement; provided, however, that if a 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 subsequent servicing agreement.

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

“Transfer”
shall 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, excluding
a repurchase financing or a Pledge in accordance with Section 16(e)).

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

“Trust Fund Expenses”
shall have the meaning assigned to such term or any analogous term in the Servicing Agreement.

“Trustee”
shall mean the trustee appointed pursuant to the Lead Securitization Servicing Agreement.

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

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

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

Section 2.               
Servicing.

(a)              
Each Noteholder acknowledges and agrees that, subject to this Agreement, the Mortgage Loan shall be serviced pursuant to this Agreement
and the Servicing Agreement; provided that the Master Servicer shall not be obligated to advance monthly payments of principal
or interest in respect of the Notes other than for any Note in the Lead Securitization (and a Non-Lead Master Servicer may be required
to advance monthly payments of principal and interest on a Non-Lead Securitization Note included in a Non-Lead Securitization pursuant
to the terms of the Non-Lead Securitization Servicing Agreement) if such principal or interest is not paid by the Borrower but shall be
obligated to advance delinquent real estate taxes, insurance premiums and other expenses related to the maintenance of the Property and
maintenance and enforcement of the lien of the Mortgage thereon, subject to the terms of the Servicing Agreement (including a determination
of recoverability thereunder). Each Noteholder acknowledges that each Initial Noteholder (if it is not already the trustee for a Securitization
Trust) may elect, in its sole discretion, to include the related Note in a Securitization and agrees that it will reasonably cooperate
with such other Noteholder, at such other Noteholder’s expense, to effect 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 Certificate
Administrator, any Operating Advisor, any Asset Representations Reviewer and the Trustee under the Servicing

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Agreement by the Depositor, and the appointment
of the Special Servicer as the initial Special Servicer under the Servicing Agreement by the Depositor (subject to replacement by the
Controlling Noteholder as provided herein) and agrees to reasonably cooperate with the Master Servicer and the Special Servicer with respect
to the servicing of the Mortgage Loan in accordance with this Agreement and the Servicing Agreement. Each Noteholder hereby 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 the Noteholders set forth herein and in the Servicing Agreement). In no event shall the
Servicing Agreement require any Servicer to enforce the rights of any Noteholder against any other Noteholder or limit any Servicer in
enforcing the rights of one Noteholder against any other Noteholder; however, 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 Accepted Servicing Practices, this Agreement, the terms of the Mortgage Loan Documents,
the Servicing Agreement, any intercreditor agreement and applicable law, and shall not take any action or refrain from taking any action
or follow any direction inconsistent with the foregoing.

(b)              
No Noteholder shall be entitled to exercise any rights of the “directing holder”, “consenting or consulting party”,
“controlling or consulting class,” “controlling class representative” or any analogous class or holder of Certificates
(as defined in the Lead Securitization Servicing Agreement) under the Servicing Agreement except, in the case of the Controlling Noteholder,
to the extent such holder is given such rights expressly under the terms of this Agreement or the Servicing Agreement in its capacity
as the Controlling Noteholder, and in no event may any such “directing holder”, “consenting or consulting party”,
controlling, consenting or consulting class or analogous class or holder of certificates backed solely by A Notes or the B Note under
the Servicing Agreement have any of the rights of the Controlling Noteholder hereunder.

(c)              
The Master Servicer shall be the lead master servicer on the Mortgage Loan, and from time to time it (or the Trustee, to the extent
provided in the Lead Securitization Servicing Agreement) (i) shall be required to make Property Protection Advances with respect to the
Mortgage Loan, subject to the terms of the Lead Securitization Servicing Agreement and this Agreement, and (ii) may be required to make
principal and interest Advances on any Note in the Lead Securitization, if and to the extent provided in the Lead Securitization Servicing
Agreement and this Agreement. The Master Servicer or Trustee shall be required to provide written notice to each Non-Lead Master Servicer
and each Non-Lead Trustee of any principal and interest Advance it has made with respect to the Lead Securitization Note within two (2)
Business Days of making such Advance. The Master Servicer, the Special Servicer and the Trustee, as applicable, will be entitled to reimbursement
for a Property Protection Advance, first from funds on deposit in each of the Collection Account and the Companion Distribution Account
that (in any case) represent amounts received on or in respect of the Mortgage Loan in the manner provided in the Lead Securitization
Servicing Agreement, and then, if such Property Protection Advance is a Nonrecoverable Advance, and if such funds on deposit in the Collection
Account and Companion Distribution Account are insufficient, from general collections of the Lead Securitization as provided in the Lead
Securitization Servicing Agreement and from general collections of each

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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 Property Protection Advance, in the manner and from the sources provided in the Lead Securitization Servicing Agreement, including
from general collections of the Lead Securitization and, in the case of Property Protection Advances that are Nonrecoverable Advances,
from general collections of each Non-Lead Securitization as provided below. Notwithstanding the foregoing, to the extent the Master Servicer,
the Special Servicer or the Trustee, as applicable, obtains funds from general collections of the Lead Securitization unrelated to the
Mortgage Loan or the Property as a reimbursement for a Property Protection Advance that is a Nonrecoverable Advance or any Advance Interest
Amounts on such a Nonrecoverable Advance, the Non-Lead Securitization Noteholder (including from general collections or any other amounts
from the 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 Advance or Advance Interest Amounts. If the Master Servicer determines that a proposed
principal and interest Advance with respect to the Lead Securitization Note or Property Protection Advance with respect to the Mortgage
Loan, if made, or any outstanding principal and interest Advance or Property Protection Advance previously made, would be, or is, as applicable,
a Nonrecoverable Advance (as defined in the Lead Securitization Servicing Agreement), the Master Servicer shall provide the Non-Lead Master
Servicer written notice of such determination promptly after such determination was made together with such reports that the Master Servicer
delivered to the Special Servicer or Trustee in connection with notification of its determination of nonrecoverability.

In addition, a Non-Lead Securitization
Noteholder whose Non-Lead Securitization Note has been included in a 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 the Non-Lead Securitization Noteholder’s
pro rata share of any Trust Fund Expenses with respect to the Mortgage Loan or the Property, any other fees, costs or expenses
incurred in connection with the servicing and administration of the Mortgage Loan and allocable to the Non-Lead Securitization Noteholders
pursuant to this Agreement and as to which the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the
Depositor, as applicable, is entitled to be reimbursed pursuant to the Lead Securitization Servicing Agreement, and any fees, costs or
expenses related to obtaining a Rating Agency Confirmation and allocated to the Non-Lead Securitization Noteholders, in each case to the
extent amounts on deposit in the Companion Distribution Account that are allocated to the Non-Lead Securitization Note are insufficient
for reimbursement of such amounts (which such reimbursement shall be made from general collections or any other amounts from such Non-Lead
Securitization Trust). If a Non-Lead Securitization Note has been included in a Non-Lead Securitization, the related Non-Lead Securitization
Noteholder agrees to indemnify (as and to the same extent the Lead Securitization Trust is required to indemnify each of the Indemnified
Parties) against any Indemnified Items to the extent of its pro rata share of such Indemnified Items, and to the extent amounts
on deposit in the Companion Distribution Account that are allocated to the Non-Lead Securitization Note are insufficient for reimbursement
of such amounts, the 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 its pro rata share of the insufficiency
from general collections or any other amounts from such Non-Lead Securitization Trust.

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The Non-Lead Master Servicer
may be required to make principal and interest Advances on a Non-Lead Securitization Note included in a Non-Lead Securitization, from
time to time, subject to the terms of the related Non-Lead Securitization Servicing Agreement, the Lead Securitization Servicing Agreement
and this Agreement. The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to make their own recoverability
determination with respect to a principal and interest Advance to be made on the Lead Securitization Note based on the information that
they have on hand and in accordance with the Lead Securitization Servicing Agreement. The Non-Lead Master Servicer and the Non-Lead Special
Servicer and the Non-Lead Trustee, as applicable, shall be entitled to make their own recoverability determination with respect to a principal
and interest Advance to be made on a Non-Lead Securitization Note based on the information that they have on hand and in accordance with
the Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable, and the Non-Lead Master Servicer
or the Non-Lead Trustee shall be required to notify each other servicer and trustee with respect to a Securitization of the amount of
its principal and interest Advance within two (2) Business Days of making such Advance. If the Master Servicer, the Special Servicer or
the Trustee, as applicable (with respect to a Note in the Lead Securitization) or the Non-Lead Master Servicer, the Non-Lead Special Servicer
or the Non-Lead Trustee, as applicable (with respect to a Non-Lead Securitization Note), determines that a proposed principal and interest
Advance, if made, would be non-recoverable or an outstanding principal and interest Advance is or would be non-recoverable, or if the
Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines that a proposed Property Protection Advance
would be non-recoverable or an outstanding Property Protection Advance is or would be non-recoverable, then the Master Servicer or the
Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by the Master
Servicer, the Special Servicer or the Trustee) or the Non-Lead Master Servicer or the Non-Lead Trustee (as provided in the Non-Lead Securitization
Servicing Agreement, in the case of a determination of non-recoverability by the Non-Lead Master Servicer, the Non-Lead Special Servicer
or the Non-Lead Trustee) shall notify the Master Servicer and the Trustee, or the Non-Lead Master Servicer and the Non-Lead Trustee, as
the case may be, within two (2) Business Days of making such determination. Each of the Master Servicer, the Trustee, the Non-Lead Master
Servicer and the Non-Lead Trustee, as applicable, will only be entitled to reimbursement for a principal and interest Advance first, from
the Collection Account or the Companion Distribution Account from Default Interest and late payment charges collected on the Mortgage
Loan, as and to the extent contemplated by the Servicing Agreement, and from amounts allocable to the Note for which such principal and
interest Advance was made, and then, if funds are insufficient, (i) in the case of a Note in the Lead Securitization, from general collections
of the Lead Securitization Trust, pursuant to the terms of the Lead Securitization Servicing Agreement and (ii) in the case of a Non-Lead
Securitization Note, from general collections of the Non-Lead Securitization Trust, as and to the extent provided in the Non-Lead Securitization
Servicing Agreement. Advance Interest Amounts on a principal and interest Advance shall be reimbursed from Default Interest and late payment
charges collected on the Mortgage Loan, as and to the extent contemplated by the Servicing Agreement, from amounts paid by the Borrower
to cover such Advance Interest Amounts and otherwise first, from amounts allocable to more subordinate Notes and then, from amounts allocable
to the subject Note, as provided under Section 3(c).

    23 

     

    

(d)              
 At any time after the Securitization Date that the Lead Securitization Note is no longer subject to the provisions of the Lead
Securitization Servicing Agreement, 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 or a Substitute Servicing Agreement; provided, however, that the Master Servicer under the Servicing
Agreement shall have no further obligations to advance monthly payments of principal or interest; provided, further, however, that until
a replacement servicing agreement is in place, the actual servicing of the Mortgage Loan may be performed by any nationally recognized
commercial mortgage loan servicer appointed by Lead Securitization Noteholder and the special servicer appointed by the Controlling Noteholder
and does not have to be performed by the service providers set forth under the Servicing Agreement; provided, further, however, that until
a replacement servicing agreement has been entered into, if a Non-Lead Securitization Note becomes the subject of an Asset Review pursuant
to the related Non-Lead Securitization Servicing Agreement, the Master Servicer, the Special Servicer, the Trustee and the Custodian shall
reasonably cooperate with the Non-Lead Asset Representations Reviewer in connection with such Asset Review by providing the Non-Lead Asset
Representations Reviewer with any documents reasonably requested by the Non-Lead Asset Representations Reviewer, but only to the extent
(x) such documents are in the possession of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be,
and (y) the Non-Lead Asset Representations Reviewer has not been able to obtain such documents from the related mortgage loan seller.

(e)              
Notwithstanding anything to the contrary contained in this Agreement, any obligation of the Master 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)               
The Lead Securitization Noteholder agrees that it shall cause the Lead Securitization Servicing Agreement to provide as follows
(and to the extent such following provisions are not included in the Lead Securitization Servicing Agreement, they shall be deemed incorporated
therein and made a part thereof):

(i)           
the Master Servicer or Trustee shall be required to provide written notice to each Non-Lead Master Servicer and each Non-Lead Trustee
of any Monthly Interest Payment Advance it has made with respect to the Lead Securitization Note within two (2) Business Days of making
such advance;

(ii)           
if the Master Servicer determines that a proposed Monthly Interest Payment Advance with respect to the Lead Securitization Note
or Property Protection Advance with respect to the Mortgage Loan, if made, or any outstanding Monthly Interest Payment Advance or Property
Protection Advance previously made, would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer shall provide each Non-Lead
Master Servicer written notice of such determination promptly after such determination was made together with such reports that the Master
Servicer delivered to the Special Servicer or Trustee in connection with notification of its determination of nonrecoverability;

    24 

     

    

(iii)           
 the Master Servicer shall remit all payments received with respect to any Non-Lead Securitization Note, net of the servicing fees
payable to the Master Servicer and Special Servicer with respect to such Non-Lead Securitization Note, and any other applicable fees and
reimbursements payable to the Master Servicer, the Special Servicer and the Trustee, to the related Non-Lead Securitization Noteholder
by the earlier of (x) the Remittance Date (as defined in the Lead Securitization Servicing Agreement) and (y) the Business Day following
the “determination date” (or any term substantially similar thereto) as defined in the related Non-Lead Securitization Servicing
Agreement (such determination date, the “Non-Lead Securitization Determination Date”), in each case, as long as the
date on which remittance is required under this clause (iii) is at least one (1) Business Day after the scheduled monthly payment date
under the Mortgage Loan Agreement;

(iv)           
in connection with the expedited remittances contemplated by the preceding clause (iii) and the expedited reporting contemplated
by the following clause (v), (A) the Special Servicer shall (x) expedite its delivery of reports to the Master Servicer with respect
to the Mortgage Loan or the Property (including the delivery of information contemplated by CREFC® reports that the Special Servicer
is required to deliver to the Master Servicer) so that the reports (including CREFC® reports) provided by the Master Servicer to the
Non-Lead Securitization Noteholder may include all information contemplated to be included therein for the applicable reporting period,
and (y) expedite withdrawals from accounts maintained by it and remittances to the Master Servicer in respect of the Mortgage Loan or
the Property so that the Master Servicer’s remittances to the Non-Lead Securitization Noteholder contemplated by the preceding clause
(iii) may include all amounts for the applicable collection period; and (B) each party responsible under the Lead Securitization Servicing
Agreement for delivering any Additional Form 10-D Disclosure (or analogous information) to a Non-Lead Trustee or Non-Lead Depositor in
respect of a Non-Lead Securitization Note shall deliver such Additional Form 10-D Disclosure (or analogous information) no later than
the 5th calendar day following the distribution date for the related Non-Lead Securitization;

(v)           
with respect to any Non-Lead Securitization Note that is held by a Securitization, the Master Servicer agrees to deliver or cause
to be delivered or to make available to the related Non-Lead Master Servicer all reports required to be delivered by the Master Servicer
to the Certificate Administrator and the Trustee under the Lead Securitization Servicing Agreement (which shall include all loan-level
reports constituting the CREFC® Investor Reporting Package (IRP)) pursuant to the terms of the Lead Securitization Servicing
Agreement, to the extent related to the Mortgage Loan, the Property, such Non-Lead Securitization Note, the Master Servicer, the Special
Servicer, the Certificate Administrator or the Trustee, by the earlier of (x) the Remittance Date and (y) the Business Day following the
related Non-Lead Securitization Determination Date, in each case, as long as the date on which delivery is required under this clause
(v) is at least one (1) Business Day after the scheduled monthly payment date under the Mortgage Loan Agreement;

    25 

     

    

(vi)           
 the Master Servicer and the Special Servicer, as applicable, shall provide (in electronic media) to each Non-Lead Securitization
Noteholder all documents, certificates, instruments, notices, reports, operating statements, rent rolls and other information regarding
the Mortgage Loan provided by it to the Lead Securitization Controlling Class Representative or the Operating Advisor in connection with
any request for consent made to, or consultation with, such party at the time provided to such other party;

(vii)           
the servicing duties of each of the Master Servicer and Special Servicer under the Lead Securitization Servicing Agreement shall
include the duty to service the Mortgage Loan and all of the Notes on behalf of the Noteholders (including the respective trustees and
certificateholders) in accordance with the terms and provisions of this Agreement, the Lead Securitization Servicing Agreement and the
Accepted Servicing Practices;

(viii)           
each Non-Lead Securitization Noteholder shall be entitled to the same indemnity as the Lead Securitization Noteholder under the
Lead Securitization Servicing Agreement; each of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator,
the Operating Advisor, the Custodian shall be required to (and shall require any Servicing Function Participant or Additional Servicer
engaged by it to) indemnify each Certifying Person and the depositor of any public Other Securitization Trust, and their respective directors
and officers and controlling persons, to the same extent that they indemnify the Depositor (as depositor in respect of the Lead Securitization)
and each Certifying Person for (A) its failure to deliver the items in clause (ix) below in a timely manner, (B) its failure to perform
its obligations to such depositor or the related Non-Lead Trustee under Article XI (or any article substantially similar thereto) of the
Lead Securitization Servicing Agreement by the time required after giving effect to any applicable grace period or cure period, (C) the
failure of any Servicing Function Participant or Additional Servicer retained by it (other than a Loan Seller Sub-Servicer) to perform
its obligations to such depositor or trustee under such Article XI (or any article substantially similar thereto) of the Lead Securitization
Servicing Agreement by the time required and/or (D) any Deficient Exchange Act Deliverable regarding, and delivered by or on behalf of,
such party;

(ix)           
with respect to any Non-Lead Securitization that is subject to reporting requirements under the Securities Act, the Exchange
Act (including Rule 15Ga-1), and Regulation AB, (a) the Master Servicer, any primary servicer, the Special Servicer, the Trustee, the
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 (provided that such party shall only be required to use commercially reasonable efforts to cause
a Loan Seller Sub-Servicer to deliver)), in a timely manner (i) the reports, certifications, compliance statements, accountants’
assessments and attestations, and information to be included in reports (including, without limitation, Form ABS-15G, Form 10-K, Form
10-D and Form 8-K), and (ii) upon request, any other materials specified in the related Non-Lead Securitization Servicing Agreement, in
the case of clauses (i) and (ii), as the related Non-

    26 

     

    

Lead Depositor or the related Non-Lead
Trustee reasonably believes, in good faith, are required in order for the related Non-Lead Depositor or the related Non-Lead Trustee to
comply with (1) its obligations under the Securities Act, the Exchange Act (including Rule 15Ga-1), Regulation AB and Form SF-3 and (2)
any applicable comment letter from the Commission or its obligations with respect to any Deficient Exchange Act Deliverable, (b) without
limiting the generality of the foregoing (x) the Depositor or the related Holder shall provide or cause to be provided to the related
Non-Lead Depositor (and to counsel to the related Non-Lead Depositor) and the related Non-Lead Trustee (1) written notice (which may be
by email) in a timely manner (but no later than three (3) Business Days prior to closing) of the occurrence of the Lead Securitization,
and (2) no later than the closing date of the Lead Securitization, a copy of the Lead Securitization Servicing Agreement in an EDGAR-compatible
format, and (y) the Master Servicer and Special Servicer (or any replacement Master Servicer or Special Servicer, as applicable) shall,
upon reasonable prior written request, and subject to the right of the Master Servicer or the Special Servicer, as the case may be, to
review and approve such disclosure materials, permit a holder of any Non-Lead Securitization Note to use such party’s description
contained in the Lead Securitization prospectus (updated as appropriate by the Master Servicer or Special Servicer, as applicable, at
the cost of such holder of such Non-Lead Securitization Note) or contained in a Lead Securitization Form 8-K, for inclusion in the disclosure
materials or a Form 8-K relating to any securitization of the related Non-Lead Securitization Note, and (z) the Master Servicer and the
Special Servicer (or any replacement Master Servicer or Special Servicer, as applicable), shall provide indemnification agreements, opinions
and Regulation AB compliance letters as were or are being delivered with respect to the Lead Securitization (in each case, at the cost
of such holder of such Non-Lead Securitization Note), and (c) in connection with any amendment of the Lead Securitization Servicing Agreement,
the Depositor shall provide written notice (which may be by email) of such proposed amendment to any Non-Lead Depositor and the related
Non-Lead Trustee no later than three (3) Business Days prior to the date of effectiveness of such amendment, and, on the date of effectiveness
of such amendment to the Lead Securitization Servicing Agreement, provide a copy of such amendment in an EDGAR-compatible format to such
Non-Lead Depositor and the related Non-Lead Trustee. The Master Servicer and the Special Servicer shall each be required to provide certification
and indemnification to any Certifying Person with respect to any applicable Sarbanes-Oxley Certification with respect to a Non-Lead Securitization;

(x)           
each of the Master Servicer, the Special Servicer, the Custodian and the Trustee and each Affected Reporting Party shall cooperate
(and require each Servicing Function Participant and Additional Servicer retained by it to cooperate under the applicable Sub-Servicing
Agreement), with each Non-Lead Depositor (including, without limitation, providing all due diligence information, reports, written responses,
negotiations and coordination) to the same extent as such party is required to cooperate with the Lead Depositor under Article XI (or
any article substantially similar thereto) of the Lead Securitization Servicing Agreement and in connection with any Deficient Exchange
Act Deliverable. All respective reasonable out-of-pocket costs and expenses incurred by any Non-Lead Depositor (including reasonable legal
fees and expenses of outside counsel to such depositor) in connection with the foregoing (other than those costs and expenses

    27 

     

    

related to participation by such Non-Lead
Depositor in any telephone conferences and meetings with the Commission and other costs such Non-Lead Depositor must bear pursuant to
Article XI (or any article substantially similar thereto) of the Lead Securitization Servicing Agreement) and any amendments to any reports
filed with the Commission therewith shall be promptly paid by the applicable Affected Reporting Party upon receipt of an itemized invoice
from such Non-Lead Depositor;

(xi)           
any late collections received by the Master Servicer from the Borrower that are allocable to a Non-Lead Securitization Note or
reimbursable to a Non-Lead Master Servicer or a Non-Lead Trustee shall be remitted by the Master Servicer to such Non-Lead Master Servicer
within one (1) Business Day of receipt and identification thereof; 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 amounts
to such Non-Lead Master Servicer within one (1) Business Day of receipt of properly identified funds but, in any event, the Master Servicer
shall remit such amounts within two (2) Business Days of receipt of properly identified funds;

(xii)           
each Non-Lead Securitization Noteholder is an intended third-party beneficiary in respect of the rights afforded it under the Lead
Securitization Servicing Agreement and the related Non-Lead Master Servicer shall be entitled to enforce the rights of such Non-Lead Securitization
Noteholder under this Agreement and the Lead Securitization Servicing Agreement;

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

(xiv)           
if the Mortgage Loan becomes a Defaulted Mortgage Loan and the Special Servicer determines to sell the Lead Securitization Note
in accordance with the Lead Securitization Servicing Agreement, it shall have the right and the obligation to sell all of the Notes as
notes evidencing one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement. In connection with any such
sale, the Special Servicer shall provide notice to each Non-Lead Master Servicer who shall provide notice to the related Non-Controlling
Noteholder of the planned sale and of such Non-Controlling Noteholder’s opportunity to submit an offer on the Mortgage Loan;

(xv)           
the Lead Securitization Servicing Agreement shall not be amended in any manner that materially and adversely affects any Non-Lead
Securitization Noteholder without the consent of such Non-Lead Securitization Noteholder;

(xvi)           
to the extent related to the Mortgage Loan, the Master Servicer or the Special Servicer, Rating Agency Confirmation shall be provided
with respect to the commercial mortgage pass-through certificates issued in connection with any Non-Lead Securitization to the same extent
provided with respect to the commercial mortgage pass-through certificates issued in connection with the Lead Securitization;

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(xvii)           
 Servicer Termination Events with respect to the Master Servicer and the Special Servicer shall include: (A) solely with respect
to the Master Servicer, the failure to timely remit payments to any Non-Lead Securitization Noteholder, which failure continues unremedied
for one (1) Business Day following the date on which such payment was to be made; (B) solely with respect to the Special Servicer, the
failure to deposit into any Foreclosed Property Account any amount required to be so deposited within two (2) Business Days after the
date such deposit was to be made, or the failure to remit to the Master Servicer for deposit into the Collection Account or the related
Companion Distribution Account any amount required to be so remitted by the Special Servicer within one (1) Business Day after the date
such remittance was to be made; (C) the qualification, downgrade or withdrawal, or placing on “watch status” in contemplation
of a rating downgrade or withdrawal of the ratings of any class of certificates issued in connection with any Non-Lead Securitization
by the rating agencies rating such securities (and such qualification, downgrade, withdrawal or “watch status” placement shall
not have been withdrawn by such rating agencies within sixty (60) days of actual knowledge of such event by the Master Servicer or the
Special Servicer, as the case may be), and publicly citing servicing concerns with the Master Servicer or Special Servicer, as applicable,
as the sole or a material factor in such rating action; and (D) the failure to provide to any Non-Lead Securitization Noteholder (if and
to the extent required under the related Non-Lead Securitization) reports required under the Exchange Act, and the rules and regulations
thereunder, in a timely fashion. Upon the occurrence of such a Servicer Termination Event with respect to the Master Servicer affecting
a Non-Lead Securitization Noteholder and the Master Servicer is not otherwise terminated pursuant to the Lead Securitization Servicing
Agreement, the Trustee shall, upon the direction of such Non-Lead Securitization Noteholder, require the appointment of a subservicer
with respect to the related Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination Event with respect to the Special
Servicer affecting a Non-Lead Securitization Noteholder and the Special Servicer is not otherwise terminated pursuant to the Lead Securitization
Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization Noteholder, terminate the Special Servicer with
respect to, but only with respect to, the Mortgage Loan;

(xviii)           
upon any resignation, termination and/or replacement of the Master Servicer or the Special Servicer, any appointment of a successor
to the Master Servicer or Special Servicer, or the effectiveness of any designation of a new Special Servicer, the Trustee or Certificate
Administrator shall promptly (and in any event no later than three (3) Business Days prior to the effective date of such resignation,
termination, replacement and/or appointment of a Master Servicer or Special Servicer) provide written notice thereof to each Non-Lead
Trustee, each Non-Lead Master Servicer, each Non-Lead Depositor, and counsel to each Non-Lead Depositor, together with any information
reasonably required (including, without limitation, any disclosure required under Item 1108 of Regulation AB) for the related Non-Lead
Securitization to comply with any applicable reporting obligations under the Exchange Act; provided, that such notice shall not be deemed
to be provided unless receipt thereof has been confirmed in writing (which may be by email) from any such Non-Lead Depositor;

    29 

     

    

(xix)           
 if a Non-Lead Securitization Note becomes the subject of an Asset Review pursuant to the related Non-Lead Securitization Servicing
Agreement, the Master Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate with such Non-Lead Asset
Representations Reviewer in connection with such Asset Review by providing such Non-Lead Asset Representations Reviewer with any documents
reasonably requested by such Non-Lead Asset Representations Reviewer, but only to the extent (x) such documents are in the possession
of the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be, and (y) such Non-Lead Asset Representations
Reviewer has not been able to obtain such documents from the related mortgage loan seller;

(xx)           
the rates at which Special Servicing Fees, Liquidation Fees and Workout Fees accrue or are determined shall, respectively, be subject
to any minimum compensation provided for in the Lead Securitization Servicing Agreement; and

(xxi)           
any conflict between the Lead Securitization Servicing Agreement and this Agreement shall be resolved in favor of this Agreement.

(g)              
Each Non-Lead Securitization Noteholder agrees that it shall cause the related Non-Lead Securitization Servicing Agreement to provide
as follows (and to the extent such following provisions are not included in the related Non-Lead Securitization Servicing Agreement, they
shall be deemed incorporated therein and made a part thereof):

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

    30 

     

    

Nonrecoverable Advances (together with
advance interest thereon) and/or 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 Property);

(ii)           
each of the Indemnified Parties shall be indemnified (as and to the same extent the Lead Securitization Trust is required to indemnify
each of such Indemnified Parties in respect of other mortgage loans in the Lead Securitization Trust pursuant to the terms of the Lead
Securitization Servicing Agreement and, in the case of the Lead Securitization Trust, to the extent of any 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 Collection Account that are allocated to the related Non-Lead
Securitization Note are insufficient for reimbursement of such amounts, the related Non-Lead Master Servicer will be required to reimburse
each of the applicable Indemnified Parties for the related Non-Lead Securitization Note’s pro rata share of the insufficiency out
of general funds in the collection account (or equivalent account) established under the related Non-Lead Securitization Servicing Agreement;

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

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

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The Lead Securitization Noteholder
shall send to each Non-Lead Securitization Noteholder and the parties to the related Non-Lead Securitization Servicing Agreement (that
are not also party to the Lead Securitization Servicing Agreement) (x) on or promptly following the Lead Securitization Date (to the extent
the applicable parties to the related Non-Lead Securitization Servicing Agreement have been engaged by the related Non-Lead Depositor
on or prior to the Lead Securitization Date), a copy (in EDGAR-compatible format) of the execution version of the Lead Securitization
Servicing Agreement, (y) within (1) one Business Day after the date of any re-filing by the Depositor of the Lead Securitization Servicing
Agreement with the Commission to account for any changes thereto (other than a formal amendment thereto following the Lead Securitization
Date), a copy (in EDGAR-compatible format) of the re-filed Lead Securitization Servicing Agreement, and (z) promptly following distribution
thereof to the parties to the Lead Securitization Servicing Agreement, any changes made by the Depositor to the Lead Securitization Servicing
Agreement (other than a formal amendment thereto following the Lead Securitization Date).

(h)              
The Servicing Agreement shall provide that compensating interest payments as defined therein with respect to, any A Notes will
be allocated by the Master Servicer between the A Notes, pro rata, in accordance with their respective Principal Balances. The
Master Servicer shall remit any compensating interest payment in respect of any Non-Lead Securitization Note to the applicable Non-Lead
Securitization Noteholder.

(i)                
In the event any filing is required to be made by any Non-Lead Depositor under the related Servicing Agreement in order to comply
with the Non-Lead Depositor’s requirements under the Securities Exchange Act of 1934, as amended, the related Lead Securitization
Noteholder (including the Depositor and Trustee) shall use commercially reasonable efforts to timely comply with any such filing.

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

Section 3.               
Subordination of Note B; Payments.

(a)              
The B Note and the rights of the Note B Holder to receive payments of interest, principal and other amounts with respect to the
B Note, shall at all times be junior, subject and subordinate to the A Notes and the rights of the Note A Holders to receive payments
of interest, principal and other amounts with respect to the A Notes as and to the extent set forth herein.

(b)              
All amounts tendered by the Borrower or otherwise available for payment on or with respect to or in connection with the Mortgage
Loan or the Property or amounts realized

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as proceeds thereof, whether received in the
form of Monthly Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral
or instrument securing the Mortgage Loan or Insurance and Condemnation Proceeds (other than proceeds, awards or settlements that are required
to be applied to the restoration or repair of the Property or released to the Borrower in accordance with the terms of the Mortgage Loan
Documents, to the extent permitted by the REMIC Provisions), but excluding (x) all amounts for required reserves or escrows required by
the Mortgage Loan Documents (to the extent, in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows
or received as reimbursements on account of recoveries in respect of Advances then due and payable or reimbursable to the Master Servicer
or the Trustee under the Servicing Agreement, and (y) all amounts that are then due, payable or reimbursable to any Servicer, Trustee,
Certificate Administrator, Operating Advisor or Asset Representations Reviewer (excluding master servicing fees, trustee fees, certificate
administrator fees, operating advisor fees, asset representations reviewer fees, and principal and interest Advances, all of which shall
be payable to such party by the respective Noteholders in respect of which such fees accrued or such Advances were made, in each case
out of distributions made in respect of each such Note, respectively (or, as and to the extent provided in the Servicing Agreement, out
of Default Interest and late payment charges collected on the Mortgage Loan), and excluding interest on principal and interest Advances
which are reimbursable pursuant to Section 3(c) below), with respect to the Mortgage Loan pursuant to the Servicing Agreement,
shall be distributed by the Master Servicer in the following order of priority without duplication (and payments shall be made at such
times as are set forth in the Servicing Agreement):

(i)           
first, to the Note A Holders, on a Pro Rata and Pari Passu Basis based on their respective entitlements, up to, in the case of
each Note A Holder, an amount equal to the accrued and unpaid interest on the Principal Balance for the related A Note at the applicable
Net Interest Rate;

(ii)           
second, to the Note B Holder, up to an amount equal to the accrued and unpaid interest on the Principal Balance for the B Note
at the applicable Net Interest Rate;

(iii)           
third, to the Note A Holders, on a Pro Rata and Pari Passu Basis based on the respective Principal Balances of the A Notes, (i)
at any time that no Triggering Event of Default has occurred and is continuing, in an aggregate amount equal to the principal payments
received, if any, with respect to such Monthly Payment Date with respect to the Mortgage Loan, until the Principal Balance for each A
Note has been reduced to zero, and (ii) at any time that a Triggering Event of Default has occurred and is continuing, all remaining funds,
if any, until the Principal Balance for each A Note has been reduced to zero;

(iv)           
fourth, to the Note B Holder, (i) at any time that no Triggering Event of Default has occurred and is continuing, in an aggregate
amount equal to the remaining principal payments received, if any, with respect to such Monthly Payment Date with respect to the Mortgage
Loan, until the Principal Balance for the B Note has been reduced to zero, and (ii) at any time that a Triggering Event of Default has
occurred and is continuing, all remaining funds, if any, until the Principal Balance for the B Note has been reduced to zero;

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(v)           
 fifth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Property exceed the amounts required
to be applied in accordance with the foregoing clauses (i)-(iv) and, as a result of a Workout the Principal Balances for the A Notes have
been reduced, such excess amount shall be paid to the Note A Holders, on a Pro Rata and Pari Passu Basis based on their respective entitlements,
up to, in the case of each Note A Holder, an amount equal to the reduction, if any, of the Principal Balance for the related A Note as
a result of such Workout, plus interest on such amount at the related Net Interest Rate;

(vi)           
sixth, if the proceeds of any foreclosure sale or any liquidation of the Mortgage Loan or Property exceed the amounts required
to be applied in accordance with the foregoing clauses (i)-(v) and, as a result of a Workout the Principal Balance for the B Note have
been reduced, such excess amount shall be paid to the Note B Holder, up to an amount equal to the reduction, if any, of the Principal
Balance for the B Note as a result of such Workout, plus interest on such amount at the related Net Interest Rate;

(vii)           
seventh, to the Note A Holders on a Pro Rata and Pari Passu Basis based on their respective entitlements, up to, in the case of
each Note A Holder, an amount equal to all Prepayment Fees allocated to the related A Note in accordance with the Mortgage Loan Agreement;

(viii)           
eighth, to the Note B Holder, up to an amount equal to all Prepayment Fees allocated to the B Note in accordance with the Mortgage
Loan Agreement;

(ix)           
ninth, to the extent assumption or transfer fees actually paid by the 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 a Servicer (in each case provided that such reimbursements or payments relate to the Mortgage Loan), any such
assumption or transfer fees, to the extent actually paid by the Borrower, shall be paid to the Note A Holders, pro rata, based
on their respective Percentage Interests, and the Note B Holder, pro rata, based on its Percentage Interest; and

(x)           
tenth, if any excess amount is available to be distributed in respect of the Mortgage Loan, and not otherwise applied in accordance
with the foregoing clauses (i)-(ix), any remaining amount shall be paid to the Note A Holders and the Note B Holder, pro rata in
accordance with their respective initial Percentage Interests in the Mortgage Loan.

(c)              
All payments of principal on the Notes shall be made in Sequential Order. All expenses and losses relating to the Mortgage Loan
and the Property (including without limitation losses of principal and interest, Property Protection Advances, Advance Interest Amounts,
Special Servicing Fees, Liquidation Fees and Workout Fees), Appraisal Reduction Amounts and certain other trust expenses, shall be allocated
to the Notes in Reverse Sequential Order. Notwithstanding anything to the contrary herein, if an Advance of principal or interest is made
with respect to any Note, then Advance Interest Amounts thereon shall only be reimbursed from Default Interest and late payment charges
collected on the Mortgage Loan, as and to the

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extent provided in the Servicing Agreement,
from amounts paid by the Borrower to cover such Advance Interest Amounts and otherwise (i) in the case of the A Notes, first, out
of any amounts received with respect to the Mortgage Loan that would otherwise be distributable to the Note B Holder, and second, out
of any amounts received with respect to the Mortgage Loan that would otherwise be distributable to the holder of such Note as to which
the Advance of principal or interest was made, and (ii) in the case of the B Note, out of any amounts received with respect to the Mortgage
Loan that would otherwise be distributable to the holder of such Note.

Section 4.               
Administration of the Mortgage Loan.

(a)              
Subject to this Agreement (including, without limitation, Section 4(f) below) and the Servicing Agreement and consistent
with the Accepted Servicing Practices, the Lead Securitization Noteholder (or any 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 Borrower or any other party to the Mortgage Loan Documents, call or waive
any Event of Default, accelerate the Mortgage Loan or institute any foreclosure action or other remedy and no other Noteholder shall 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 except as set forth in this Agreement and the Servicing Agreement including
the rights of any Noteholder in its capacity as the Controlling Noteholder to consent to the Major Decisions set forth in this Agreement.
Subject to this Agreement and the Servicing Agreement (including, without limitation, Section 4(f) below) and consistent with
the Accepted Servicing Practices, each Noteholder (other than the Lead Securitization Noteholder) agrees that it shall have no right to,
and hereby presently and irrevocably assigns and conveys to the Lead Securitization Noteholder (or any Servicer acting on behalf of the
Lead Securitization Noteholder) the rights, if any, that such Noteholder has to, (i) call or cause the Lead Securitization Noteholder
to call an Event of Default under the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Borrower,
including, without limitation, filing or causing the Lead Securitization Noteholder to file any bankruptcy petition against the Borrower.
The Lead Securitization Noteholder (or any Servicer acting on behalf of the Lead Securitization Noteholder) shall not have any fiduciary
duty to any Non-Lead Noteholder 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).

Upon the Mortgage Loan becoming
a Defaulted Mortgage Loan, each Non-Lead Noteholder hereby acknowledges the right and obligation of the Lead Securitization Noteholder
(or the Special Servicer acting on behalf of the Lead Securitization Noteholder) to sell each Non-Lead Note together with the Lead Securitization
Note (and any other Notes included in the Lead Securitization) as notes evidencing one whole loan in accordance with the terms of the
Servicing Agreement. In connection with any such sale, the Special Servicer shall be required to sell each Note together with the Lead
Securitization Note in the manner set forth in the Servicing Agreement and shall be required to require that all offers be submitted to
the Trustee in writing and be accompanied by a refundable deposit of cash in an amount equal to 5% of the offer amount (subject

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to a cap of $2,500,000). Whether any cash offer
constitutes a fair price for such Notes shall be determined by the Trustee; provided, that no offer from an Interested Person shall
constitute a fair price unless (i) it is the highest offer received and (ii) at least two bona fide other offers are received from
independent third parties. In determining whether any offer received represents a fair price for such Notes, the Trustee shall be supplied
with and shall rely on the most recent Appraisal or updated Appraisal conducted in accordance with the Servicing Agreement within the
preceding nine (9) month period or, in the absence of any such Appraisal, on a new Appraisal. The Trustee shall select the Appraiser conducting
any such new Appraisal. In determining whether any such offer constitutes a fair price for such Notes, the Trustee shall instruct the
Appraiser to take into account (in addition to the results of any Appraisal or updated Appraisal that it may have obtained pursuant to
the Servicing Agreement), as applicable, among other factors, the period and amount of any delinquency on the affected Notes, the occupancy
level and physical condition of the related Property and the state of the local economy. The Trustee may conclusively rely on the opinion
of an Independent Appraiser or other Independent expert in real estate matters retained by the Trustee at the expense of the Noteholders
in connection with making such determination. 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 Non-Lead Securitization Notes if they become
a Defaulted Mortgage Loan without the written consent of each Non-Lead Securitization Noteholder (provided that such consent is
not required if such Non-Lead Securitization Noteholder is a Borrower Restricted Party) unless the Special Servicer has delivered to such
Non-Lead Securitization Noteholder: (a) at least fifteen (15) Business Days’ prior written notice of any decision to attempt to
sell the Non-Lead Securitization Notes; (b) at least ten (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 ten (10) days prior to the proposed sale date, a copy of the most recent Appraisal for the Mortgage Loan, and any documents in the
servicing file maintained by the Master Servicer and/or Special Servicer with respect to the Mortgage Loan reasonably requested by such
Non-Lead Securitization Noteholder that are material to the price of the Non-Lead Securitization Notes and (d) until the sale is completed,
and a reasonable period of time (but no less time than is afforded to the other offerors and the Controlling Noteholder) 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 Special Servicer in connection with the proposed sale; provided, that such Non-Lead Securitization Noteholder may waive
any of the delivery or timing requirements set forth in this sentence. Subject to the terms of the Servicing Agreement, each of the Controlling
Noteholder, the Controlling Class Representative, any other Noteholder (or any controlling class representative or directing holder on
its behalf under the Non-Lead Securitization Servicing Agreement) shall be permitted to bid at any sale of the Non-Lead Securitization
Note unless such Person is a Borrower Restricted Party.

Each Non-Lead 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 their proxy, for the purpose of soliciting and accepting offers for and consummating the sale
of its Non-Lead Note. Each Non-Lead Noteholder further agrees that, upon the request of the Lead Securitization Noteholder, such Non-Lead
Noteholder shall execute and deliver to or at the direction of Lead Securitization Noteholder such powers of attorney or other instruments
as 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

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deliver its original Non-Lead Note endorsed
in blank, to or at the direction of the Lead Securitization Noteholder in connection with the consummation of any such sale.

The authority and obligation
of the Lead Securitization Noteholder to sell each Non-Lead Note, and the obligations of each Non-Lead Noteholder to execute and deliver
instruments or deliver its Non-Lead Note upon request of the Lead Securitization Noteholder, shall terminate and cease to be of any further
force or effect upon the date, if any, upon which no Note is held in a Securitization. The preceding sentence shall not be construed to
grant to any Non-Lead Noteholder the benefit of any representation or warranty made by such seller or any document delivery obligation
imposed on such seller under any mortgage loan purchase and sale agreement, instrument of transfer or other document or instrument that
may be executed or delivered by such seller in connection with the Lead Securitization.

(b)              
The administration of the Mortgage Loan shall be governed by this Agreement and the Servicing Agreement. Each Noteholder agrees
to be bound by the terms of the Servicing Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall service
the Mortgage Loan in accordance with the terms of this Agreement, including without limitation, the rights of the Controlling Noteholder
set forth in Section 4(f) below and consistent with the Accepted Servicing Practices. Servicing of the Mortgage Loan shall
be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan, by the Special Servicer, in each
case pursuant to the Servicing Agreement and consistent with the Accepted Servicing Practices. 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 Accepted Servicing Practices, taking into account
the interests of the Noteholders as a collective whole, in each case subject to the terms and conditions of this Agreement, and any Non-Lead
Securitization Noteholder that is not a Borrower Restricted Party shall be deemed a third party beneficiary of such provisions of the
Servicing Agreement. The foregoing provisions of this Section 4(b) shall not limit or modify the rights of the Controlling
Noteholder and/or the Controlling Noteholder Representative 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, Sections 4(f) and (5), if the Lead Securitization Noteholder 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 such 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, such waiver, modification or amendment
shall be effected, to the maximum extent reasonably possible, in a manner consistent with the payment priority set forth in Section
3(b), and to the extent it is not, payments to the Note A Holders and the Note B Holder pursuant to Section 3 shall be
made as though such Workout did not occur, with the payment terms of each Note remaining the same as they are on the date hereof, and,
in any event, the full economic effect of all waivers, reductions or deferrals of amounts due on the Mortgage Loan attributable to such

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Workout shall be borne by the Noteholders in
a manner consistent with the payment priorities in Section 3. Subject to the Servicing Agreement and this Agreement (including
without limitation Sections 4(f) and 5), in the case of any modification or amendment described above, the Lead
Securitization Noteholder will have the sole authority and ability to revise the payment provisions set forth in Section 3
above in a manner that reflects the subordination of the B Note to the A Notes with respect to the loss that is the result of such amendment
or modification, including: (i) the ability to increase the Percentage Interest of an A Note, and to increase or reduce the Percentage
Interest of the B Note, in a manner that reflects a loss in principal as a result of such amendment or modification and (ii) the
ability to change the Interest Rate applicable to a Note 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 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 Lead Securitization Noteholder described hereunder may be exercised by the Master Servicer on
behalf of the Lead Securitization Noteholder in accordance with the Servicing Agreement and this Agreement. Each Non-Lead Securitization
Noteholder shall be provided access to any website that an investor would be permitted to access in accordance with the procedures set
forth in the Servicing Agreement, it being understood and agreed that each Non-Lead Securitization Noteholder is subject to any restrictions
on the access to such websites contained in the Servicing Agreement.

(e)              
If any Note 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 Notes 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 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)
no Servicer may modify, waive or amend any provision of the Mortgage Loan, consent to or withhold consent from any action of the Borrower,
or exercise or refrain from exercising any powers or rights which the Noteholders 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 months after the earliest startup day of any REMIC
which includes the Lead Securitization Note (or any portion thereof). The Noteholders agree that the provisions of this Section 4(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 4(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 by each Noteholder with respect to the REMIC containing the Note owned by such Noteholder.

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

(f)               
(i)Subject to clauses (ii) or (iii) below, with respect to any consent, modification, amendment or waiver under or other action
in respect of the Mortgage Loan (whether or not a Servicing Transfer Event has occurred and is continuing) that would constitute a Major
Decision, the Servicer shall provide the Controlling Noteholder (or its Controlling Noteholder Representative) with at least ten (10)
Business Days (or, in the case of a determination of an Acceptable Insurance Default, twenty (20) days) prior notice requesting consent
to the requested Major Decision. The Servicer shall not take any action with respect to such Major Decision (or make a determination not
to take action with respect to such Major Decision), unless and until the Special Servicer receives the written consent of the Controlling
Noteholder (or its Controlling Noteholder Representative) before implementing a decision with respect to such Major Decision; provided
that following the securitization of the Note that entitles its holder to be the Controlling Noteholder, the provisions of the Lead Servicing
Agreement shall govern the consent and consultation rights under this Agreement.

(ii)       If
the Lead Securitization Noteholder (or the Master Servicer acting on its behalf) has not received a response from the Controlling Noteholder
(or its Controlling Noteholder Representative) 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 Special 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 Controlling Noteholder Representative) fails to respond to the Lead Securitization Noteholder (or the Special
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 Controlling Noteholder Representative), as applicable, shall have no further consent rights with respect
to the specific action set forth in such notice. Notwithstanding the foregoing, or if a failure to take any such action at such time would
be inconsistent with the Accepted Servicing Practices, the Master Servicer may take actions with respect to such Property before obtaining
the consent of the Controlling Noteholder (or its Controlling Noteholder Representative) if the Master Servicer reasonably determines
in accordance with the Accepted Servicing Practices that failure to take such actions prior to such consent would materially and adversely
affect the interest of the Noteholders as a collective whole, and the Master Servicer has made a reasonable effort to contact the Controlling
Noteholder. The foregoing shall not relieve

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the Lead Securitization Noteholder (or a Servicer
acting on its behalf) of its duties to comply with the Accepted Servicing Practices.

(iii)       Notwithstanding
the foregoing, the Lead Securitization Noteholder (or any Servicer acting on its behalf) shall not follow any advice or consultation provided
by the Controlling Noteholder (or its Controlling Noteholder Representative) that would require or cause the Lead Securitization Noteholder
(or any Servicer acting on its behalf) to violate any applicable law, including the REMIC Provisions, be inconsistent with the Accepted
Servicing Practices, require or cause the Lead Securitization Noteholder (or any Servicer acting on its behalf) to violate provisions
of this Agreement or the Servicing Agreement, require or cause the Lead Securitization Noteholder (or any Servicer acting on its behalf)
to violate the terms of the Mortgage Loan, or materially expand the scope of the Lead Securitization Noteholder’s (or any Servicer
acting on its behalf) responsibilities under this Agreement or the Servicing Agreement.

The Special Servicer shall
be required to (A) provide copies to each Senior Noteholder that is a Non-Controlling Noteholder of any notice, information and report
that is (or, without regard to the occurrence of any control termination event, consultation termination event or similar event, would
be) required to be provided to the Controlling Noteholder or its 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, within the same time frame that
such notice, information and report is (or, if applicable, would be) required to be provided to the Controlling Noteholder or its representative,
and (B) consult with each Senior Noteholder that is a Non-Controlling Noteholder or its representative on a strictly non-binding basis,
if after having received such notices, information and reports, any such Non-Controlling Noteholder requests consultation with respect
to any such Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report, and consider alternative
actions recommended by such Non-Controlling Noteholder or its representative; provided that after the expiration of a period of
ten (10) Business Days from the delivery to any such Non-Controlling Noteholder by the Special Servicer of written notice of a proposed
action, together with copies of the notice, information and reports, the Special Servicer shall no longer be obligated to consult with
such Non-Controlling Noteholder, whether or not such Non-Controlling Noteholder has responded within such ten (10) Business Day period.
Notwithstanding the consultation rights of any Senior Noteholder that is a Non-Controlling Noteholder set forth in the immediately preceding
sentence, the Special Servicer may make any Major Decision or take any recommended action outlined in an asset status report before the
expiration of the aforementioned ten (10) Business Day period if the Special Servicer determines that immediate action with respect thereto
is necessary to protect the interests of the Noteholders. In no event shall the Special Servicer be obligated at any time to follow or
take any alternative actions recommended by a Non-Controlling Noteholder.

The Noteholders acknowledge
that the Lead Securitization Servicing Agreement may contain certain provisions that give the Controlling Noteholder certain non-binding
consultation rights with respect to Major Decisions related to compliance with the Risk Retention Rules applicable to the Lead Securitization.

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

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(h)              
 Notwithstanding anything to the contrary contained herein or in the Servicing Agreement, if at any time a Borrower Restricted
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 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 applicable Note.

Section 5.               
Appointment of Controlling Noteholder Representative.

(a)              
The Controlling Noteholder shall have the right at any time to appoint a controlling noteholder representative to exercise its
rights hereunder (the “Controlling Noteholder Representative”). The Controlling Noteholder shall have the right in
its sole discretion at any time and from time to time to remove and replace the Controlling Noteholder Representative. When exercising
its various rights under Section 4 and elsewhere in this Agreement, the Controlling Noteholder may, at its option, in each
case, act through the Controlling Noteholder Representative. The Controlling Noteholder Representative may be any Person (other than a
Borrower Restricted Party), 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. No such Controlling Noteholder Representative shall owe
any fiduciary duty or other duty to any other 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 Controlling Noteholder Representative acting on behalf of the Controlling
Noteholder and other Noteholders (and any Servicer) will accept such actions of the Controlling Noteholder Representative 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 a Controlling Noteholder Representative until the Controlling Noteholder has notified the Lead Securitization Noteholder (and
any Servicer) of such appointment and, if the Controlling Noteholder Representative is not the same Person as the Controlling Noteholder,
the Controlling Noteholder Representative provides the Lead Securitization Noteholder (and any Servicer) with written confirmation of
its acceptance of such appointment, an address, any fax number and any email address 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, telephone numbers, any fax numbers and any email addresses). The Controlling Noteholder shall promptly deliver such information
to any Servicer. None of the Servicers, the Certificate Administrator or the Trustee shall be required to recognize any Person as a Controlling
Noteholder Representative until they receive such information from the Controlling Noteholder. The Controlling Noteholder agrees to inform
each such Servicer or Trustee of the then-current Controlling Noteholder Representative.

(b)              
Neither the Controlling Noteholder Representative nor the Controlling Noteholder will have any liability to any other Noteholder
or any other Person for any action taken, or for refraining from the taking of any action pursuant to this Agreement or the Servicing

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Agreement, or for errors in judgment, absent
any loss, liability or expense incurred by reason of its willful misfeasance, bad faith or gross negligence. The Noteholders agree that
the Controlling Noteholder Representative and the Controlling Noteholder may take or refrain from taking actions that favor the interests
of one Noteholder over any other Noteholder, and that the Controlling Noteholder Representative 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 Controlling
Noteholder Representative or such Controlling Noteholder, as the case may be, agree to take no action against the Controlling Noteholder
Representative, 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 Controlling Noteholder Representative nor such Controlling Noteholder
will be deemed to have been grossly negligent or reckless, or to have acted in bad faith or engaged in willful misfeasance or to have
recklessly disregarded any exercise of its rights by reason of its having acted or refrained from acting solely in the interests of any
Noteholder.

(c)              
The other Noteholders acknowledge and agree all of the aforementioned rights and obligations of the Controlling Noteholder and
the Controlling Noteholder Representative set forth in Sections 4(f) and this Section 5 shall be exercisable by
the applicable Person specified in the Servicing Agreement as and to the extent set forth in the Servicing Agreement.

Section 6.               
Special Servicer. The Controlling Noteholder (or its Controlling Noteholder Representative), 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, at any time from time to time, to appoint a replacement Special Servicer with respect to the Mortgage
Loan. The Controlling Noteholder (or its Controlling Noteholder Representative) shall be entitled to terminate the rights and obligations
of the Special Servicer under the Servicing Agreement, with or without cause, upon at least ten (10) Business Days’ prior written
notice to the Special Servicer (provided, however, that the Controlling Noteholder and/or Controlling Noteholder Representative shall
not be liable for any termination or similar fee in connection with the removal of the Special Servicer in accordance with this Section 6);
such termination shall not be effective unless and until (A) each Rating Agency delivers a Rating Agency Confirmation (to the extent any
portion of the Mortgage Loan has been securitized); (B) the initial or successor Special Servicer has assumed in writing (from and after
the date such successor Special Servicer becomes the Special Servicer) all of the responsibilities, duties and liabilities of the Special
Servicer under the 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 the terms of the 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 shall promptly provide copies to any terminated Special Servicer of the
documents referred to in the preceding sentence. The Lead Securitization Noteholder will reasonably cooperate with the Controlling Noteholder
in order to satisfy the foregoing conditions, including the Rating Agency Confirmation.

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Section 7.               Payment
Procedure.

(a)              
The Lead Securitization Noteholder (or the Master Servicer on its behalf), in accordance with the priorities set forth in Section 3
and subject to the terms of the Servicing Agreement, will deposit or cause to be deposited all payments allocable to the Notes to the
Collection Account or Companion Distribution Account for the Notes established pursuant to the Servicing Agreement. The Lead Securitization
Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due to each Noteholder. The Lead
Securitization Noteholder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two
(2) Business Days following the Lead Securitization Noteholder’s (or the Master Servicer’s acting on its behalf) receipt of
properly identified and available funds from or on behalf of the Borrower.

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

(c)              
If, for any reason, the Lead Securitization Noteholder (or the Master Servicer on its behalf) makes any payment to any other Noteholder
before the Lead Securitization Noteholder (or the Master Servicer on its behalf) has received the corresponding payment (it being understood
that the Lead Securitization Noteholder (or the Master Servicer on its behalf) is under no obligation to do so), and the Lead Securitization
Noteholder (or the Master Servicer on its behalf) does not receive the corresponding payment within three (3) Business Days of its payment
to such other Noteholder, then such other Noteholder will, at the Lead Securitization Noteholder’s (or the Master Servicer’s
on its behalf) request, promptly return that payment to the Lead Securitization Noteholder (or the Master 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 Master
Servicer on its behalf) subject to this Agreement and the Servicing Agreement and to be distributed pursuant to the terms of this Agreement.
The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall have the right to offset any amounts due hereunder from
any other Noteholder, as applicable, with respect to the Mortgage Loan against any future payments due to such other Noteholder, as applicable,
under the Mortgage Loan, provided, that each Noteholder’s obligations under this Section 7 are separate and distinct
obligations from one another and in no event shall the Lead Securitization Noteholder (or the Master Servicer on its behalf) enforce the

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obligations of one Noteholder against another
Noteholder. Each Noteholder’s obligations under this Section 7 constitute absolute, unconditional and continuing obligations.

Section 8.               
Limitation on Liability of the Noteholders. No Noteholder (including any Servicer on a Noteholder’s behalf, but only
to the extent that the Servicing Agreement does not impose any other standard upon any Servicer, in which case the Servicing Agreement
shall control) shall have any liability to any other Noteholder except with respect to losses actually suffered due to the gross negligence,
willful misconduct or breach of this Agreement on the part of such Noteholder.

The Note B Holder acknowledges
that, subject to the terms and conditions hereof and the obligation of the Lead Securitization Noteholder (including any Servicer) to
comply with, and except as otherwise required by, the Accepted Servicing Practices, the Lead Securitization Noteholder (including any
Servicer) 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 the Note B Holder and that the Lead Securitization Noteholder
(including any Servicer) shall have no liability whatsoever to the Note B Holder in connection with the Lead Securitization Noteholder’s
exercise of rights or any omission by the Lead Securitization Noteholder to exercise such rights other than as described above; provided,
however, that such Servicer must act in accordance with the Accepted Servicing Practices.

The Note B Holder acknowledges
that, subject to the terms and conditions hereof and the obligation of any Non-Lead Securitization Noteholder (including any Non-Lead
Servicer) to comply with, and except as otherwise required by, the Accepted Servicing Practices (as if such standard was applicable to
any Non-Lead Securitization Noteholder as a “servicer” thereunder), each Non-Lead Securitization Noteholder (including any
Non-Lead Servicer) may exercise, or omit to exercise, any rights that such Non-Lead Securitization Noteholder may have under this Agreement
and the Servicing Agreement in a manner that may be adverse to the interests of the Note B Holder and that any Non-Lead Securitization
Noteholder (including any Non-Lead Servicer) shall have no liability whatsoever to the Note B Holder in connection with any Non-Lead Securitization
Noteholder’s exercise of rights or any omission by a Non-Lead Securitization Noteholder to exercise such rights other than as described
above; provided, however, that the Non-Lead Servicer must act in accordance with the servicing standard under the Non-Lead
Securitization Servicing Agreement.

Each Noteholder acknowledges
that, subject to the terms and conditions hereof, any other Noteholder may exercise, or omit to exercise, any rights that such Noteholder
may have under this Agreement and the Servicing Agreement in a manner that may be adverse to the interests of each other Noteholder and
that such Noteholder shall have no liability whatsoever to any other Noteholder in connection with such Noteholder’s exercise of
rights or any omission by such Noteholder to exercise such rights; provided, however, that such Noteholder shall not be
protected against any liability to any other Noteholder that would otherwise be imposed by reason of willful misfeasance, bad faith or
negligence.

Section 9.               
Bankruptcy. Subject to the provisions of Section 4(f) hereof and the Accepted Servicing Practices, each Noteholder
hereby covenants and agrees that only the Lead Securitization Noteholder (or the Master Servicer on its behalf) has the right to institute,
file,

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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 Borrower or seek to appoint a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official with respect to the Borrower or all or any part of its property or assets or ordering the winding-up
or liquidation of the affairs of the Borrower. Subject to the provisions of Section 4(f) hereof and the Accepted Servicing Practices,
each 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 Borrower
under the Bankruptcy Code or in any other Insolvency Proceeding. Subject to the provisions of Section 4(f), the Noteholders hereby
appoint the Lead Securitization Noteholder as their agent, and grant to the Lead Securitization Noteholder an irrevocable power of attorney
coupled with an interest, and their proxy, for the purpose of exercising any and all rights and taking any and all actions available to
the Noteholders (including the Controlling Noteholder) in connection with any case by or against the Borrower under the Bankruptcy Code
or in any other Insolvency Proceeding, including, without limitation, the right to file and/or prosecute any claim, vote to accept or
reject a plan, to make any election under Section 1111(b) of the Bankruptcy Code with respect to the Mortgage Loan, and to file a
motion to modify, lift or terminate the automatic stay with respect to the Mortgage Loan. The Noteholders, hereby agree that, upon the
request of the Lead Securitization Noteholder but subject to the provisions of Section 4(f), each other 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 any Servicer in connection with any Insolvency Proceeding are subject to and must be in accordance with the Accepted Servicing
Practices.

Section 10.           
Representations of the Note B Holder. The Note B Holder represents, solely as to itself and its Note, and it is specifically
understood and agreed, that it is acquiring such Note for its own account in the ordinary course of its business and none of the other
Noteholders shall have any liability or responsibility to the Note B Holder except (i) as expressly provided herein or (ii) for actions
that are taken or omitted to be taken by such other Noteholder that constitute gross negligence or willful misconduct or that constitute
a breach of this Agreement. The Note B Holder represents and warrants solely as to itself 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 Note B Holder, and that this Agreement is the legal, valid and binding
obligation of the Note B Holder enforceable against the Note B 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. The Note B Holder represents and warrants solely as to itself that it is duly organized, validly existing, in good standing and possesses
of all licenses and authorizations necessary to perform its obligations hereunder. The Note B Holder represents and warrants as to itself
that (a) this Agreement has been duly executed and delivered by the Note B Holder, (b) to the Note B Holder’s actual knowledge,
all consents,

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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
the Note B Holder have been obtained or made and (c) to the Note B Holder’s actual knowledge, there is no pending action, suit or
proceeding, arbitration or governmental investigation against the Note B Holder, an adverse outcome of which would materially and adversely
affect its performance under this Agreement.

The Note B Holder acknowledges
that no other Noteholder owes the Note B Holder any fiduciary duty with respect to any action taken under the Mortgage Loan Documents
and, except as provided herein, need not consult with the Note B Holder with respect to any action taken by such other Noteholder, as
applicable, in connection with the Mortgage Loan.

The Note B Holder expressly
and irrevocably waives for itself and any Person claiming through or under the Note B Holder 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 11.           
Representations of each Initial Noteholder. Each Initial 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 Noteholder’s charter or any law or contractual restriction binding upon such Noteholder and that this Agreement
is the legal, valid and binding obligation of such Noteholder as applicable enforceable against it in accordance with its terms. Each
Initial 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 respective business. Each Initial Noteholder represents and warrants that (a) this Agreement
has been duly executed and delivered by such Noteholder, (b) to such 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 Noteholder have been obtained or made and (c) to such Noteholder’s actual knowledge, there is no pending
action, suit or proceeding, arbitration or governmental investigation against such Noteholder, an adverse outcome of which would materially
and adversely affect its performance under this Agreement.

Each Initial Noteholder acknowledges
that no other Noteholder owes such Noteholder any fiduciary duty with respect to any action taken under the Mortgage Loan Documents and,
except as provided herein or in the Servicing Agreement, need not consult with such Noteholder with respect to any action taken by such
Noteholder in connection with the Mortgage Loan.

Section 12.           
Independent Analysis of the Note B Holder. The Note B Holder acknowledges that it has, independently and without reliance
upon any Initial Noteholder, except with respect to the representations and warranties provided by an Initial Noteholder herein and in
any documents or instruments executed and delivered by the such Initial Noteholder in connection herewith (including the representations
and warranties provided in the agreement pursuant to which it acquired Note B), and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to purchase Note B and the Note B Holder

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accepts responsibility therefor. The Note B
Holder hereby acknowledges that, other than the representations and warranties provided herein and in such other documents or instruments,
no Initial Noteholder has made any representations or warranties with respect to the Mortgage Loan, subject to such representations and
warranties as provided by such Initial Noteholder herein and in such other documents and instruments, and that no Initial Noteholder shall
have any responsibility for (i) the collectability of the Mortgage Loan, (ii) the validity, enforceability or legal effect of any of the
Mortgage Loan Documents or the title insurance policy or policies or any survey furnished or to be furnished to an Initial Noteholder
in connection with the origination of the Mortgage Loan, (iii) the validity, sufficiency or effectiveness of the lien created or to be
created by the Mortgage Loan Documents, or (iv) the financial condition of the Borrower. The Note B Holder assumes all risk of loss in
connection with its Note except as specifically set forth herein.

Section 13.           
No Creation of a Partnership or Exclusive Purchase Right. Nothing contained in this Agreement, and no action taken pursuant
hereto shall be deemed to constitute the relationship created hereby between or among any of the Noteholders as a partnership, association,
joint venture or other entity. None of the Noteholders shall have any obligation whatsoever to offer to any other Noteholder the opportunity
to purchase a Note interest in any future loans originated by such Noteholder or its Affiliates, and if such Noteholder chooses to offer
to any other Noteholder the opportunity to purchase a Note interest in any future mortgage loans originated by the such Noteholder or
their respective Affiliates, such offer shall be at such purchase price and interest rate as the offering Noteholder chooses, in its sole
and absolute discretion. No Noteholder shall have any obligation whatsoever to purchase from any other Noteholder an interest in any future
loans originated by such Noteholder or their respective Affiliates.

Section 14.           
Not a Security. No Note shall be deemed to be a security within the meaning of the Securities Act of 1933 or the Securities
Exchange Act of 1934.

Section 15.           
Other Business Activities of the Noteholders. Each Noteholder acknowledges that each other Noteholder or its Affiliates
may make loans or otherwise extend credit to, and generally engage in any kind of business with, (i) (a) the Borrower or (b) any direct
or indirect parent of the Borrower or (c) any Affiliate of the Borrower or (d) any Affiliate of any direct or indirect parent of the Borrower,
(ii) any entity that is a holder of debt secured by direct or indirect ownership interests in the Borrower or any Affiliate of the holder
of such debt, or (iii) any entity that is a holder of a preferred equity interest in the Borrower or any Affiliate of a holder of such
preferred equity (each, a “Borrower Related Party”), and receive payments on such other loans or extensions of credit
to Borrower Related Parties and otherwise act with respect thereto freely and without accountability in the same manner as if this Agreement
and the transactions contemplated hereby were not in effect.

Section 16.           
Sale of the Notes.

(a)              
The Note B Holder agrees that it will not Transfer all or any portion of its Note except in accordance with this Section 16.
The Note B Holder shall have the right, without the need to obtain the consent of any other Noteholder or any other Person, to Transfer
49% or less (in the aggregate) of its interest in its Note to any Person, provided that any such Transfer shall be made in accordance
with the terms of this Section 16. The Note B Holder shall have the right to Transfer its entire Note or any portion thereof
exceeding 49%, (i) to a Qualified Institutional

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Lender, provided, that (except in the case
of a Transfer to the Lead Securitization) promptly after the Transfer each Senior Noteholder is provided with (x) a representation from
a transferee or the Note B Holder certifying that such transferee is a Qualified Institutional Lender, and (y) a copy of the assignment
and assumption agreement referred to in Section 17 and provided, further, that such transfer would not cause such Note to
be held by more than five persons nor cause there to be no one person owning a majority of such Note and (ii) to an entity that is not
a Qualified Institutional Lender, provided that with respect to this clause (ii), the Note B Holder obtains (1) prior to the Lead Securitization
Date, the consent of the Lead Securitization Noteholder and each other Senior Noteholder, each such consent not to be unreasonably withheld,
conditioned or delayed, and (2) after the Lead Securitization Date, Rating Agency Confirmation (and for avoidance of doubt, no consent
of the Lead Securitization Noteholder or other Senior Noteholder shall be required after the closing of the Lead Securitization); provided
that in each of case (1) and (2), (x) promptly after the Transfer each Senior Noteholder is provided with a copy of the assignment and
assumption agreement referred to in Section 17 and (y) such transfer would not cause the subject Note to be held by more than
five persons; and provided further, however, that if such transfer would cause there to be no one person owning a majority of the
subject Note, then such transfer will not be permitted unless persons owning a majority of the subject Note designate one of such persons
to act on behalf of such persons owning such majority. If the subject Note is held by more than one Noteholder at any time, the holders
of a majority of interest in the subject Note shall immediately appoint a representative to exercise all rights of the Note B Holder hereunder.
Notwithstanding the foregoing, without the Lead Securitization Noteholder’s prior consent, which may be withheld in the Lead Securitization
Noteholder’s sole and absolute discretion, no Note B Holder shall Transfer all or any portion of its Note to a Borrower Restricted
Party and any such Transfer shall be absolutely null and void and shall vest no rights in the purported transferee. The Note B Holder
agrees that it shall pay the expenses of the Lead Securitization Noteholder (including all expenses of the Master Servicer and the Special
Servicer) and the other Non-Lead Securitization Noteholders (including all expenses of the related Non-Lead Master Servicers and the related
Non-Lead Special Servicers) in connection with any such Transfer.

(b)              
All Transfers under Section 16(a) shall be made upon written notice to the Senior Noteholders not later than the date
of such Transfer, and (except in connection with a Transfer to the Lead Securitization) each 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 Note
B Holder hereunder with respect to its Note from and after the date of such assignment (or, in the case, of a pledge, collateral assignment
or other encumbrance made in accordance with Section 16(e) by the Note B Holder of its Note solely as security for a loan
to the Note B Holder made by a third-party lender whereby the Note B Holder remains fully liable under this Agreement, on or before the
date on which such third-party lender succeeds to the rights of the Note B Holder by foreclosure or otherwise, such third-party lender
executes an agreement that such lender shall be bound by the terms and provisions of this Agreement and the obligations of the Note B
Holder 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 all or any portion of Note B in accordance
with this Agreement, the transferring Person shall be released from all liability arising under this Agreement with respect to Note B
(or the portion thereof that was the subject of such Transfer), for the period after the effective date of such Transfer (it being

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understood and agreed that the foregoing release
shall not apply in the case of a sale, assignment, transfer or other disposition of a participation interest in Note B as described in
clause (c) below). In connection with any such permitted transfer of a portion of Note B and for all purposes of this Agreement,
each Senior Noteholder need only recognize the majority holder of Note B for purposes of notices, consents and other communications between
the Noteholders, and such majority holder of Note B shall be the only Person authorized hereunder to exercise any rights of the Note B
Holder under this Agreement; provided, however, the majority holder of Note B may from time to time designate any other
Person as an additional party entitled to receive notices, consents and other communications and/or to exercise rights on behalf of the
Note B Holder hereunder by delivering written notice thereof to each Senior Noteholder, and, from and after delivery of such notice, such
designee shall be so authorized hereunder and shall be the only party entitled to receive such notices, consents and such other communications
and/or to exercise such rights.

(c)              
In the case of any sale, assignment, transfer or other disposition of a participation interest in a Note, (i) such Noteholder’s
obligations under this Agreement shall remain unchanged, (ii) such Noteholder shall remain solely responsible for the performance
of such obligations, (iii) the other Noteholders and any Persons acting on their 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 such participation interest; provided,
however, that if the applicable participant is a Qualified Institutional Lender (and delivers to the other Noteholders a certification
from an authorized officer confirming its status as a Qualified Institutional Lender), such Noteholder, by written notice to the other
Noteholders, may delegate to such participant such Noteholder’s right (if any) to exercise the rights of the Controlling Noteholder
or a Non-Controlling Noteholder, as applicable, hereunder and under the Servicing Agreement.

(d)              
Each of the Senior Noteholders shall have the right to Transfer all or any portion of its Senior Note without the prior consent
of any other Noteholder (i) with respect to each Senior Note prior to an Event of Default, to any party other than a Borrower Restricted
Party and (ii) after an Event of Default, to any party, including a Borrower Restricted Party; provided, however, that (1)
the Senior Noteholder must notify each Rating Agency and each other Noteholder before transfer to a Borrower Restricted Party, and (2)
following such Transfer of any Senior Note, the Mortgage Loan continues to be serviced in its entirety pursuant to the Servicing Agreement
by a Servicer unaffiliated with the Borrower. For the avoidance of doubt, no Noteholder or the Master Servicer shall have any right to
Transfer or cause the Transfer of any other Note.

(e)              
Notwithstanding any other provision hereof, any Noteholder may pledge (a “Pledge”) its Note to any entity (other
than the 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 16(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

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interest in the applicable Note and is structured
as a repurchase arrangement, shall qualify as a “Pledge” hereunder, provided that a Note Pledgee which is not a Qualified
Institutional Lender may not take title to the pledged Note without (a) prior to the first Securitization of any Note, the consent of
each other Noteholder and (b) after the closing of the first Securitization of any Note, Rating Agency Confirmation. Upon written notice
by the applicable Noteholder to each other Noteholder and any Servicer that a Pledge has been effected (including the name and address
of the applicable Note Pledgee), each other Noteholder agrees to acknowledge receipt of such notice and thereafter agrees: (i) to
give 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; (ii) to allow such Note Pledgee a period of ten (10) Business Days to cure a default
by the pledging Noteholder in respect of its obligations to each other Noteholder hereunder, but such Note Pledgee shall not be obligated
to cure any such default; (iii) that no amendment, modification, waiver or termination of this Agreement shall be effective against
such Note Pledgee without the written consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed;
(iv) that such other Noteholder shall give to such Note Pledgee copies of any notice of default under this Agreement simultaneously
with the giving of same to the pledging Noteholder and accept any cure thereof by such Note Pledgee which such pledging Noteholder has
the right (but not the obligation) to effect hereunder, as if such cure were made by such pledging Noteholder; (v) that such other
Noteholder shall deliver to Note Pledgee such estoppel certificate(s) as Note Pledgee shall reasonably request, provided that any
such certificate(s) shall be in a form reasonably satisfactory to such other Noteholder; and (vi) that, upon written notice (a “Redirection
Notice”) to each other Noteholder 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 by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that
any Noteholder or Servicer would otherwise be obligated to pay to the pledging Noteholder from time to time pursuant to this Agreement
or any Servicing Agreement. Any pledging Noteholder hereby unconditionally and absolutely releases each other Noteholder and any Servicer
from any liability to the pledging Noteholder on account of any Noteholder’s or Servicer’s compliance with any Redirection
Notice believed by any Servicer or any such other Noteholder to have been delivered by a Note Pledgee. Note Pledgee shall be permitted
to exercise fully its rights and remedies against the pledging Noteholder to such Note Pledgee (and accept an assignment in lieu of foreclosure
as to such collateral), in accordance with applicable law and this Agreement. In such event, the Noteholders and any Servicer shall recognize
such Note Pledgee (and any transferee other than the Borrower or any Affiliate thereof which is also a Qualified Institutional Lender
at any foreclosure or similar sale held by such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as
the successor to the pledging 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 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 16(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.

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(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 the Securitization) will 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 to the Conduit Credit Enhancer; and

(v)           
Unless the Conduit is in fact then a Qualified Institutional Lender, the Conduit will not, without obtaining the consent of each
other Noteholder, have any greater right to acquire the interests in the Note pledged 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 17.           
Registration of Transfer. In connection with any Transfer of a Note (but excluding (x) any participant and (y) any Note
Pledgee unless and until it realizes on its Pledge), a transferee shall execute an assignment and assumption agreement whereby such transferee
assumes 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 15, from and after the date of such assignment.
Notwithstanding the preceding sentence, a Trustee shall not be required to execute an assignment and assumption agreement in connection
with any Transfer of a Note if the obligations are assumed pursuant to the Servicing Agreement. In connection with a Transfer of a Note,
the Agent shall not recognize any attempted or purported transfer of any Note in violation of the provisions of Section 15 and this
Section 17. Any such purported transfer shall be absolutely null and void and shall vest no rights in the purported transferee. Each
Noteholder desiring to effect such transfer shall, and does hereby agree to, indemnify the Agent and any other Noteholder against any
liability that may result if the transfer is not made in accordance with the provisions of this Agreement. Upon a Securitization of the
Lead Securitization Note, the Certificate Administrator shall automatically become and be the Agent.

    51 

     

    

Section 18.           Registration
of the Notes. The Agent shall keep or cause to be kept at the Agent Office books (the “Note Register”) for the
registration and transfer of the Notes. The Agent shall serve as the initial Note registrar and the Agent hereby accepts such appointment.
The names and addresses of the holders of the Notes and the names and addresses of any transferee of any Note of which the Agent has
received notice, in the form of a copy of the assignment and assumption agreement referred to in Section 17, and the principal amounts
(and stated interest) of the Note owing to each such Noteholder, 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 Noteholders who may hold their Notes through a nominee. Upon request of a Noteholder, the Agent shall provide
such party with the names and addresses of the Noteholders. To the extent another party is appointed as Agent hereunder, the Noteholders
hereby designate such person as its agent under this Section 18 solely for purposes of maintaining the Note Register. The parties
intend for the Notes to be in registered form for federal income tax purposes under Section 5f.103-1(c) of the United States Treasury
Regulations.

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

Section 20.           
No Pledge. This Agreement shall not be deemed to represent a pledge of any interest in the Mortgage Loan by the Noteholders.
Except as otherwise provided in this Agreement and the Servicing Agreement, no Non-Lead Securitization Noteholder shall 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 each Non-Lead Securitization Noteholder shall be entitled to receive its share of
such application in accordance with the terms of this Agreement and/or the Servicing Agreement.

Section 21.           
Governing Law; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS
AGREEMENT, THE RELATIONSHIP OF THE PARTIES TO THIS AGREEMENT, AND/OR THE INTERPRETATION AND ENFORCEMENT OF THE RIGHTS AND DUTIES OF THE
PARTIES TO THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS AND DECISIONS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO THE CHOICE OF LAW RULES THEREOF. EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTIONS 5-1401
AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

Section 22.           
Submission to Jurisdiction; Waivers. Each party hereto hereby irrevocably and unconditionally:

    52 

     

    

(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 23.           
Modifications; Amendment. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing
signed by each Noteholder. Additionally, for as long as any Note is contained in a Securitization Trust, the Noteholders shall not amend
or modify this Agreement without first receiving a Rating Agency Confirmation; provided that no such confirmation from the Rating Agencies
shall be required in connection with a modification or amendment (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 Servicing Agreement, (ii) entered into pursuant to
Section 35 of this Agreement or (iii) to correct or supplement any provision herein that may be defective or inconsistent with any
other provisions of this Agreement.

Section 24.           
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 15, each Noteholder may assign or
delegate its rights or obligations under this Agreement. Upon any such assignment, the assignee shall be entitled to all rights and benefits
of the applicable Noteholder hereunder, including, without limitation, the right to make further assignments and grant additional Notes.

Section 25.           
Counterparts. This Agreement may be executed in any number of counterparts and all of such counterparts shall together constitute
one and the same instrument.

    53 

     

    

Delivery of an executed counterpart of a signature
page of this Agreement (and, to the extent permitted under applicable law, each officer’s certificate, receipt or similar closing
document delivered in connection with the closing of this transaction) in Portable Document Format (PDF), Tagged Image File Format (TIF
or TIFF), .JPG or .JPEG file format, or by facsimile transmission shall be as effective as delivery of a manually executed original counterpart
of this Agreement.

Section 26.           
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 27.           
Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable laws, such provision
shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining
provisions of this Agreement.

Section 28.           
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 29.           
Withholding Taxes.

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

(b)              
The Non-Lead Securitization Noteholders 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 reasonable attorneys’ fees, expenses
and disbursements arising or resulting from any failure of the Lead Securitization Noteholder (or the Master Servicer on its behalf) to
withhold Taxes from payment made to any Non-Lead Securitization Noteholder in reliance upon any representation, certificate, statement,
document or instrument made or provided by such Non-Lead Securitization Noteholder to the Lead Securitization Noteholder in connection
with the obligation of the Lead Securitization Noteholder to withhold Taxes from payments made to such Non-Lead Securitization 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

    54 

     

    

instrument as being true and correct in all
respects and to fully rely thereon without any obligation or responsibility to investigate or to make any inquiries with respect to the
accuracy, veracity, correctness or validity of the same and (ii) such Non-Lead Securitization Noteholder shall, upon request of the
Lead Securitization Noteholder, at its sole cost and expense, defend any claim or action relating to the foregoing indemnification using
counsel selected by the Lead Securitization.

(c)              
Each Non-Lead Securitization Noteholder represents to the Lead Securitization Noteholder (for the benefit of the Borrower) that
it is not a Non-Exempt Person and that neither the Lead Securitization Noteholder nor the 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. From time to time as necessary
during the term of this Agreement, any Non-Lead Securitization Noteholder (if not included at such time in the Lead Securitization Trust)
shall deliver to the Lead Securitization Noteholder or Servicer, as applicable, evidence satisfactory to the Lead Securitization Noteholder
substantiating that such Non-Lead Securitization Noteholder is not a Non-Exempt Person and that the Lead 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 any Non-Lead Securitization 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 any Non-Lead Securitization 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 Borrower is treated for United States income tax purposes as derived in whole or part from sources within the United States,
such Non-Lead Securitization 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), Form W-8BEN-E or Form W-8BEN, or successor
forms, as may be required from time to time, duly executed by such Non-Lead Securitization Noteholder, as evidence of such Non-Lead Securitization
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 any Non-Lead Securitization Noteholder in respect of its respective Non-Lead Securitization
Note or otherwise until such Non-Lead Securitization Noteholder shall have furnished to the Lead Securitization Noteholder the requested
forms, certificates, statements or documents.

Section 30.           
Custody of Mortgage Loan Documents. The originals of all of the Mortgage Loan Documents (other than the Notes) will be held
by the Lead Securitization Noteholder (or a custodian acting on behalf of the Lead Securitization Noteholder) who shall act as secured
party under the Mortgage Loan Documents on behalf of the registered holders of the Notes. Notwithstanding anything to the contrary in
this Agreement, upon the Lead Securitization, the originals of all of the Mortgage Loan Documents (other than the Notes) shall be held
by the Custodian. Each Note shall be held by the respective Noteholder or a custodian appointed by such Noteholder.

Section 31.           
Notices. All notices required hereunder shall be given by (i) writing and personally delivered, (ii) sent by facsimile transmission
(during business hours) if a party has provided a facsimile number, (iii) reputable overnight delivery service (charges prepaid), (iv)
sent

    55 

     

    

by electronic mail containing language requesting
the recipient to confirm receipt thereof if a party has provided an electronic mail address and only if such electronic mail is promptly
followed by a written notice or (v) 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.

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

Section 32.           
Broker. Each Noteholder represents to each other Noteholder that no broker was responsible for bringing about this transaction.

Section 33.           
Certain Matters Affecting the Agent.

(a)              
The Noteholders hereby appoint the Agent to act on their behalf, and the Agent shall act on behalf of the Noteholders;

(b)              
The Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any officer’s certificate
or assignment and assumption agreement delivered to the Agent pursuant to Section 17;

(c)              
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;

(d)              
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 indemnity reasonably
satisfactory to it;

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

(f)               
The Agent shall not be bound to make any investigation into the facts or matters stated in any officer’s certificate or assignment
and assumption agreement delivered to the Agent pursuant to Section 17; and

(g)              
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.

    56 

     

    

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

The Agent may resign at any
time upon notice, so long as a successor Agent, reasonably satisfactory to the Noteholders, has agreed to be bound by this Agreement and
perform the duties of the Agent hereunder. BMO, as Initial Agent, may transfer its rights and obligations to a Servicer, as successor
Agent, at any time without the consent of any Noteholder. BMO, as Initial Agent, shall promptly and diligently attempt to cause such Servicer
to act as successor Agent, and, if such Servicer declines to act in such capacity, shall promptly and diligently attempt to cause a similar
servicer to act as successor Agent. Notwithstanding the foregoing, the Noteholders hereby agree that, simultaneously with the closing
of the Lead Securitization, the Certificate Administrator shall be deemed to have been automatically appointed as the successor Agent
under this Agreement in place of the Initial Agent or any successor thereto prior to such Securitization without any further notice or
other action. The termination or resignation of the Certificate Administrator, as Certificate Administrator under the Servicing Agreement,
shall be deemed a termination or resignation of such Certificate Administrator as Agent under this Agreement.

Section 35.           
Resizing. In connection with the Mortgage Loan, each Noteholder agrees, subject to clause (iii) below in this paragraph,
that if a Senior Noteholder determines that it is advantageous to resize one or more of its Senior Notes by causing the Borrower to execute
amended and restated or additional pari passu notes (in either case, “New Notes”) reallocating the principal
of such Senior Note to such New Notes, each Noteholder other than the resizing Noteholder shall cooperate with the resizing Noteholder
to effect such resizing at such resizing Noteholder’s expense; provided that (i) the aggregate principal balance of all outstanding
New Notes following the creation thereof is no greater than the principal balance of such Senior Note or Senior Notes immediately prior
to the creation of the New Notes, (ii) the weighted average Interest Rate of all outstanding New Notes (based on the relative principal
balance of such New Notes) following the creation thereof is the same as the Interest Rate of the related Senior Note or Senior Notes
immediately prior to the creation of the New Notes, and (iii) no such resizing shall (x) change the interest allocable to, or
the amount of any payments due to, any other Noteholder, or priority of such payments, or (y) increase any other Noteholder’s
obligations or decrease any other Noteholder’s rights, remedies or protections. In connection with any resizing of a Senior Note,
the related Senior Noteholder may allocate its rights hereunder among the New Notes in any manner in its sole discretion.

Section 36.           
Conflict. To the extent of any inconsistency between the Servicing Agreement, on one hand, and this Agreement, on the other,
this Agreement shall control.

Section 37.           
Electronic Signatures. Each of the parties hereto agrees that the transaction consisting of this Agreement (and, to the
extent permitted under applicable law, each officer’s certificate, receipt or similar closing document delivered in connection with
the closing of this transaction) may be conducted by electronic means. Each party agrees, and acknowledges that it is such party’s
intent, that if such party signs this Agreement (or, if applicable, such closing

    57 

     

    

document) using an electronic signature, it
is signing, adopting, and accepting this Agreement or such closing document and that signing this Agreement or such closing document using
an electronic signature is the legal equivalent of having placed its handwritten signature on this Agreement or such closing document
on paper. The use of electronic signatures and electronic records (including, without limitation, any contract or other record created,
generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability
as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including
the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any
other applicable law, including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial
Code.

Section 38.           
Cooperation in Securitization.

(a)              
Each Noteholder acknowledges that any Noteholder may elect, in its sole discretion, to include its Note in a Securitization. In
connection with a Securitization of an A Note or Note B, at the request of the related Noteholder, each other Noteholder shall use commercially
reasonable efforts, at the requesting Noteholder’s expense, to satisfy, and to cooperate with the requesting Noteholder in attempting
to cause the Borrower to satisfy, the market standards to which the requesting Noteholder customarily adheres or which may be reasonably
required in the marketplace or by the Rating Agencies in connection with the Securitization, including, entering into (or consenting to,
as applicable) any modifications to this Agreement or the Mortgage Loan Documents and to cooperate with the requesting Noteholder in attempting
to cause the 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 the Securitization; provided, however, that either in connection with the Securitization or
otherwise at any time prior to the Securitization no other 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 any payments to be made to, such Noteholder, (ii) increase
such Noteholder’s obligations or decrease such Noteholder’s rights, remedies or protections hereunder or under any Mortgage
Loan Document, or (iii) otherwise materially adversely affect the rights and interests of such Noteholder. In connection with any such
Securitization of an A Note or Note B, each other Noteholder agrees to provide for inclusion in any disclosure document relating to the
related Securitization such customary non-confidential information concerning such Noteholder as the requesting Noteholder reasonably
determines to be necessary to satisfy its disclosure obligations in connection with its Securitization. Each Noteholder covenants and
agrees that if it is not the requesting Noteholder, it shall use commercially reasonable efforts to cooperate with the requests of each
Rating Agency and the requesting Noteholder in connection with the preparation of any offering documents in connection with the Securitization,
and to review and respond reasonably promptly with respect to any information relating to it in any Securitization document, all at the
cost and expense of the requesting Noteholder. Each Noteholder acknowledges that the information provided by it to the requesting Noteholder
pursuant to this Section 38 may be incorporated into the offering documents for a Securitization. A requesting Note A Holder or
the Note B Holder and each Rating Agency shall be entitled to rely on the information supplied by each other Noteholder pursuant to this
Section 38.

    58 

     

    

(b)              
 A Note A Holder or the Note B Holder securitizing its Note may, at its election, deliver to each other Noteholder drafts of the
preliminary and final Securitization offering memoranda, prospectus, preliminary prospectus and any other disclosure documents and (in
the case of the Note A-1 Securitization) the Servicing Agreement simultaneously with distributions of any such documents to the general
working group of the related Securitization. Each other Noteholder may, at its election, review and comment thereon insofar as it relates
to such other Noteholder and/or its Note, and, if such other Noteholder elects to review and comment, such other Noteholder shall review
and comment thereon as soon as possible (but in no event later than (i) in the case of the first draft thereof, two (2) Business Days
after receipt thereof and (ii) in the case of each subsequent draft thereof, the deadline provided to the general working group of the
related Securitization for review and comment), and if such other Noteholder fails to respond within such time, such other Noteholder
shall be deemed to have elected to not comment thereon (but no failure to comment shall constitute a waiver of such other Noteholder’s
rights hereunder or under the Mortgage Loan Documents). In the event of any disagreement between any such other Noteholder with respect
to the preliminary and final offering memoranda, prospectus, free writing prospectus or any other disclosure documents the requesting
Noteholder’s determination shall control (the parties acknowledging that no inaccuracy in such documents shall in any respect prejudice
any such other Noteholder’s rights hereunder or under the Mortgage Loan Documents). No such other Noteholder shall have any obligation
or liability with respect to any such offering documents other than the accuracy of any comments it elects to make regarding itself.

(c)              
Notwithstanding anything herein to the contrary, each of the Note A Holders and the Note B Holder acknowledges and agrees that
(i) no other Noteholder shall be required to incur any out-of-pocket expenses in connection with their respective Securitizations of A
Notes and Note B, and (ii) any such other Noteholder shall only be required to disclose such customary non-confidential information reasonably
determined by the requesting Note A Holder or the Note B, as applicable, to be necessary to satisfy its disclosure obligations in connection
with its Securitization.

[SIGNATURE PAGE FOLLOWS]

 

    59 

     

    

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

	 	BANK OF MONTREAL, as Initial Note
A Holder and Initial Agent
	 	 
	 	By:  	/s/ David Schell
	 	 	Name:  	 David Schell
	 	 	Title: 	 Authorized Signatory
	 	 	 	 

 

 

BMO 2022-C1 – 111 River Street Co-Lender
Agreement

 

     

     

    

 

	 	BANK OF MONTREAL, as Initial Note B
 Holder 
	 	 
	 	By:  	/s/ David Schell
	 	 	Name:  	 David Schell
	 	 	Title: 	 Authorized Signatory
	 	 	 	 

 

 

BMO 2022-C1 – 111 River Street Co-Lender
Agreement

 

     

     

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

A.       Description of Mortgage
Loan:

	Mortgage Loan Agreement:	Loan Agreement, dated as of January 21, 2022, among Bank of Montreal and the Borrower, as the same may be further amended, restated, supplemented or otherwise modified from time to time
	Borrower	River and First Streets LLC and 280-10 Group LLC
	Origination Date of the Mortgage Loan and Notes:	January 21, 2022 (Note A-1, Note A-2, Note A-3 and Note B)
	Initial Principal Amount of 

Mortgage Loan:	$153,750,000
	Location of the Property:	Hoboken, New Jersey
	Maturity Date:	February 6, 2027

B.       Description of Note
Interests: Each Note shall have the initial Principal Balance, Percentage Interest and initial rate of interest set forth in the table
below.

	
    Note
    Designation
	
    Initial

    Interest Rate
	
    

    Percentage Interest
	
    Principal
    Balance as of January 24, 2022

	Note A-1	 	3.2800%	$37,500,000
	Note A-2	 	3.2800%	$28,000,000
	Note A-3	 	3.2800%	$12,000,000
	Note B	 	3.2800%	$76,250,000
	 	 	 	 

    A-1

     

    

EXHIBIT B

Initial Noteholders:

If to BMO:

Bank of Montreal

c/o BMO Capital Markets Corp.

151 West 42nd Street

New York, New York 10036

Attention: Mike Birajiclian

Email: Michael.Birajiclian@bmo.com

with a copy to:

Bank of Montreal

c/o BMO Capital Markets Corp.

151 West 42nd Street

New York, New York 10036

Attention: Legal Department

Email: BMOCMUSLegal@bmo.com

 

 

 

 

    B-1

     

    

EXHIBIT C

PERMITTED FUND MANAGERS

 

	1.	Westbrook Partners
	2.	DLJ Real Estate Capital Partners
	3.	iStar Financial Inc.
	4.	Capital Trust, Inc.
	5.	Lend-Lease Real Estate Investments
	6.	Archon Capital, L.P.
	7.	Whitehall Street Real Estate Fund, L.P.
	8.	The Blackstone Group International Ltd.
	9.	Apollo Real Estate Advisors
	10.	Colony Capital, Inc.
	11.	Praedium Group
	12.	J.E. Robert Companies
	13.	Fortress Investment Group LLC
	14.	Lonestar Opportunity Fund
	15.	Clarion Partners
	16.	Walton Street Capital, LLC
	17.	Starwood Financial Trust
	18.	BlackRock, Inc.
	19.	Rialto Capital Management, LLC
	20. 	Rialto Capital Advisors, LLC
	21.	Raith Capital Partners, LLC
	22.	Eightfold Real Estate Capital, L.P.
	23.	Perella Weinberg Partners
	24.	Square Mile Capital Management LLC

    C-1Exhibit
4.17

EXECUTION VERSION

AGREEMENT
BETWEEN NOTE HOLDERS

Dated
as of June 28, 2022

by
and between

 

UBS
AG

(Note A-1 Holder)

 

and

 

UBS
AG

(Note A-2 Holder)

 

and

 

UBS
AG

(Note A-3 Holder)

 

and

 

UBS
AG

(Note A-4 Holder)

 

 

Phoenix
Industrial Portfolio VIII

    	 		 

    	 

    

TABLE
OF CONTENTS

	 	 	 	Page
	Section
    1.	 	Definitions.	3
	Section
    2.	 	Servicing
    of the Mortgage Loan.	24
	Section
    3.	 	Priority
    of Payments.	35
	Section
    4.	 	Workout.	36
	Section
    5.	 	Administration
    of the Mortgage Loan.	36
	Section
    6.	 	Rights
    of the Controlling Note Holder.	41
	Section
    7.	 	Appointment
    of Special Servicer.	44
	Section
    8.	 	Payment
    Procedure.	44
	Section
    9.	 	Limitation
    on Liability of the Note Holders.	46
	Section
    10.	 	Bankruptcy.	46
	Section
    11.	 	Representations
    of the Note Holders.	47
	Section
    12.	 	No
    Creation of a Partnership or Exclusive Purchase Right.	47
	Section
    13.	 	Other
    Business Activities of the Note Holders.	48
	Section
    14.	 	Sale
    of the Notes.	48
	Section
    15.	 	Registration
    of the Notes and Each Note Holder.	51
	Section
    16.	 	Governing
    Law; Waiver of Jury Trial.	52
	Section
    17.	 	Submission
    To Jurisdiction; Waivers.	52
	Section
    18.	 	Modifications.	52
	Section
    19.	 	Statement
    of Intent.	53
	Section
    20.	 	Successors
    and Assigns; Third Party Beneficiaries.	53
	Section
    21.	 	Counterparts.	53
	Section
    22.	 	Captions.	53
	Section
    23.	 	Severability.	53
	Section
    24.	 	Entire
    Agreement.	53
	Section
    25.	 	Withholding
    Taxes.	53
	Section
    26.	 	Custody
    of Mortgage Loan Documents.	55
	Section
    27.	 	Cooperation
    in Securitization.	55
	Section
    28.	 	Notices.	56
	Section
    29.	 	Broker.	57
	Section
    30.	 	Certain
    Matters Affecting the Agent.	57
	Section
    31.	 	Reserved.	57
	Section
    32.	 	Resignation
    or Termination of Agent.	57
	Section
    33.	 	Resizing.	58

 

    	 	-i-	 

    	 

    

This
AGREEMENT BETWEEN NOTE HOLDERS (this “Agreement”), dated as of June 28, 2022 by and between UBS AG, by and through
its branch office at 1285 Avenue of the Americas, New York, New York (“UBS AG” and, together with its successors and
assigns in interest, in its capacity as initial owner of the Note A-1, the “Note A-1 Holder”, and in its capacity
as the initial agent, the “Initial Agent”), UBS AG (together with its successors and assigns in interest, in its capacity
as initial owner of the Note A-2, the “Note A-2 Holder”), UBS AG (together with its successors and assigns in interest,
in its capacity as initial owner of the Note A-3, the “Note A-3 Holder”) and UBS AG (together with its successors
and assigns in interest, in its capacity as initial owner of the Note A-4, the “Note A-4 Holder” and, together with
the Note A-1 Holder, Note A-2 Holder and Note A-3 Holder, the “Note Holders”).”

W I T N E S S E T H:

WHEREAS,
pursuant to the Mortgage Loan Agreement (as defined herein), UBS AG, New York Branch originated a certain loan (the “Mortgage
Loan”) described on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the
mortgage loan borrower described on the Mortgage Loan Schedule (the “Mortgage Loan Borrower”), which was evidenced,
inter alia, by four promissory notes, each dated as of the respective dates set forth in Exhibit A hereto: (i) one promissory
note designated Promissory Note A-1 made by the Mortgage Loan Borrower in favor of UBS AG, New York Branch in the original principal
amount of $20,000,000.00, (ii) one promissory note designated Promissory Note A-2 made by the Mortgage Loan Borrower in favor of UBS
AG, New York Branch in the original principal amount of $22,000,000.00, (iii) one promissory note designated Promissory Note A-3 made
by the Mortgage Loan Borrower in favor of UBS AG, New York Branch in the original principal amount of $10,000,000.00 and (iv) one promissory
note designated Promissory Note A-4 made by the Mortgage Loan Borrower in favor of UBS AG, New York Branch in the original principal
amount of $5,000,000.00. The note referenced in clause (i) of the preceding sentence, as amended, modified or supplemented,
is referred to herein as “Note A-1”; the note referenced in clause (ii) of the preceding sentence, as
amended, modified or supplemented, is referred to herein as “Note A-2”; the note referenced in clause (iii)
of the preceding sentence, as amended, modified or supplemented, is referred to herein as “Note A-3” and the note
referenced in clause (iv) of the preceding sentence, as amended, modified or supplemented, is referred to herein as “Note
A-4”. Note A-1, Note A-2, Note A-3 and Note A-4 are collectively referred to herein as the “Notes”. The
Notes are secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”) on certain real properties
located as described on the Mortgage Loan Schedule (individually and collectively, the “Mortgaged Property”);

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

    	 	-1-	 

    	 

    

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

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

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

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

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

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

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

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

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

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

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

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

    	 	-2-	 

    	 

    

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

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

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

“Commission”
shall have the meaning assigned to such term in Section 2(g)(viii).

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

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

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

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

“Controlling
Note” shall mean Note A-1.

“Controlling
Note Holder” shall mean the holder of the Controlling Note; provided that at any time the Controlling Note is included
in a Securitization, the rights of the “Controlling Note Holder” may be exercised by the holders of the majority of the class
of securities issued in the Lead Securitization designated as the “controlling class” or such other class(es) or party otherwise
assigned the rights to exercise the rights of the “Controlling Note Holder” hereunder, as and to the extent provided in the
Lead Securitization Servicing Agreement. If at any time 50% or more of the Controlling Note is held by the Mortgage Loan Borrower or
a Mortgage Borrower Related Party, the Controlling Note Holder (and such party assigned the rights to exercise the rights of the “Controlling
Note Holder” as described above) shall not be entitled to exercise any rights of the Controlling Note Holder and neither the Controlling
Note Holder nor any other person shall be entitled to exercise the rights of the Controlling Note Holder (and if the Controlling Note
is included in a Securitization the related Securitization Servicing Agreement may contain additional limitations on the rights of the
Controlling Note Holder that can be exercised by a certificateholder that is the Mortgage Loan Borrower or has certain relationships
with the Mortgage Loan Borrower).

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

    	 	-3-	 

    	 

    

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

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

“Depositor”
shall mean (i) with respect to the Note A-1 Securitization, the depositor under the Note A-1 PSA, (ii) with respect to
the Note A-2 Securitization, the depositor under the Note A-2 PSA, (iii) with respect to the Note A-3 Securitization, the depositor
under the Note A-3 PSA and (iv) with respect to the Note A-4 Securitization, the depositor under the Note A-4 PSA.

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

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

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

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

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

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

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

    	 	-4-	 

    	 

    

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

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

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

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

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

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

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

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

“Master
Servicer” shall mean the master servicer related to the Mortgage Loan under the Lead Securitization Servicing Agreement.

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

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

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

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

“Mortgage
Loan Agreement” shall mean the Loan Agreement, dated as of May 10, 2022, between UBS AG, New York Branch, as lender, and the
Mortgage Loan Borrower, as

    	 	-5-	 

    	 

    

the
same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

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

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

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

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

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

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

“Non-Controlling
Note” means Note A-2, Note A-3, Note A-4 and any New Note designated as a “Non-Controlling Note” hereunder pursuant
to Section 33.

“Non-Controlling
Note Holder” means any holder of a Non-Controlling Note; provided that at any time such holder’s respective Note
is included in a Securitization, the consultation and other rights of the “Non-Controlling Note Holder” herein may be exercised
by the directing certificateholder under the Non-Lead Securitization Servicing Agreement or any other party assigned the rights to exercise
the rights of a “Non-Controlling Note Holder” hereunder as and to the extent provided in the related Non-Lead Securitization
Servicing Agreement and as to the identity of which the Lead Securitization Note Holder (and the Master Servicer and the Special Servicer)
has been given written notice. If at any time 50% or more of a Non-Controlling Note is held by (or the majority “controlling class”
holder or other party assigned the rights to exercise the rights of such “Non-Controlling Note Holder” (as described above)
is) the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan Borrower, such Non-Controlling Note Holder shall not be entitled
to exercise any rights of the Non-Controlling Note Holder and neither any Non-Controlling Note Holder nor any other person shall be entitled
to exercise the rights of such Non-Controlling Note Holder.

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

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

    	 	-6-	 

    	 

    

under
clauses (A) or (B) above, permit any Servicer on behalf of the Note Holders to make such payments free of any obligation
or liability for withholding.

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

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

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

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

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

“Non-Lead
Securitization” shall mean (i) on and after the Note A-1 Securitization Date, the Note A-2 Securitization, the Note A-3 Securitization
and the Note A-4 Securitization, and (ii) prior to the Note A-1 Securitization Date, any Securitization other than the First Securitization.

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

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

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

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

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

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

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

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

    	 	-7-	 

    	 

    

“Note
A-1 Holder” shall mean the Note A-1 Holder identified in the preamble to this Agreement or any subsequent holder of Note A-1,
as applicable.

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

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

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

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

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

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

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

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

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

“Note
A-2 Holder” shall mean the Note A-2 Holder identified in the preamble to this Agreement or any subsequent holder of Note A-2,
as applicable.

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

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

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

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

    	 	-8-	 

    	 

    

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

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

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

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

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

“Note
A-3 Holder” shall mean the Note A-3 Holder identified in the preamble to this Agreement or any subsequent holder of Note A-3,
as applicable.

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

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

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

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

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

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

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

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

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

“Note
A-4 Holder” shall mean the Note A-4 Holder identified in the preamble to this Agreement or any subsequent holder of Note A-4,
as applicable.

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

    	 	-9-	 

    	 

    

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

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

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

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

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

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

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

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

“Note
Holders” shall mean collectively, the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder and the Note A-4 Holder.

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

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

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

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

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

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

    	 	-10-	 

    	 

    

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

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

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

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

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

“Qualified
Institutional Lender” shall mean UBS AG and any other U.S. Person that is:

(a)              
an entity Controlled by, under common Control with or that Controls UBS AG, or

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

    	 	-11-	 

    	 

    

(c)              
one or more of the following:

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

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

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

(iv)               
an investment fund, limited liability company, limited partnership or general partnership having capital and/or capital commitments of
at least $250,000,000, in which (A) UBS AG, (B) a person that is otherwise a Qualified Institutional Lender under clause (i),
(ii) or (v) (with respect to an institution substantially similar to the entities referred to in clause (i) or (ii) above), or
(C) a Permitted Fund Manager, acts as a general partner, managing member, or the fund manager responsible for the day-to-day management
and operation of such investment vehicle and provided that at least 50% of the equity interests in such investment vehicle are
owned, directly or indirectly, by one or more entities that

    	 	-12-	 

    	 

    

are
otherwise Qualified Institutional Lenders (without regard to the capital surplus/equity and total asset requirements set forth below
in the definition), or

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

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

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

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

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

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

    	 	-13-	 

    	 

    

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

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

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

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

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

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

“Required
Special Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”
or better, (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

    	 	-14-	 

    	 

    

twelve
(12) month period prior to the date of determination, and Moody’s has not downgraded or withdrawn the then-current rating on any
class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such
special servicer as special servicer of such commercial mortgage loans, (iv) in the case of KBRA, KBRA has not cited servicing concerns
of such special servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement on
“watch status” in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special
servicer prior to the time of determination, and (v) in the case of DBRS Morningstar, either a commercial mortgage servicer or special
servicer (a) that has a current ranking from DBRS Morningstar of at least MORS3, or (b) if not rated by DBRS Morningstar, that is currently
acting as servicer or special servicer, as applicable, for a commercial mortgage-backed securities transaction rated by DBRS Morningstar
and as to which DBRS Morningstar has not cited servicing concerns with respect to 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, which placement on “watch status” has not been withdrawn within 60 days without any ratings downgrade or withdrawal)
of securities in such commercial mortgage-backed securities transaction serviced by the applicable servicer prior to the time of determination.

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

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

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

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

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

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

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

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

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

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

    	 	-15-	 

    	 

    

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

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

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

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

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

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

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

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

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

Section
2.                Servicing
of the Mortgage Loan.

(a)              
Each Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced by the Master
Servicer and the Special Servicer pursuant to the terms of this Agreement and the Lead Securitization Servicing

    	 	-16-	 

    	 

    

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

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

    	 	-17-	 

    	 

    

Confirmation
shall have been obtained from each Rating Agency with respect to the securities issued in connection with such Securitization for such
Non-Lead Securitization Note; provided, further, that until a replacement servicing agreement has been entered into, the
Lead Securitization Note Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions of the Lead Securitization Servicing
Agreement (excluding, however, any obligation to make any P&I Advances in respect of the Lead Securitization Note except as specifically
agreed to by the Servicer, and provided that the Servicer’s right to reimbursement for Property Advances as set forth in Section
2(b) shall remain in effect), as if such agreement were still in full force and effect with respect to the Mortgage Loan, by the applicable
Servicer in the Lead Securitization or by any Person appointed by the Lead Securitization Note Holder that is an Approved Servicer. The
Note Holders acknowledge that at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing
Agreement, the Master Servicer shall have no further obligation to make P&I Advances with respect to the Mortgage Loan.

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

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

    	 	-18-	 

    	 

    

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

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

    	 	-19-	 

    	 

    

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

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

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

    	 	-20-	 

    	 

    

the
Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Operating Advisor, as applicable, may do so
and the related Non-Lead Master Servicer will be required to, promptly following notice from the Master Servicer, the Special Servicer
or the Trustee, pay or reimburse the Lead Securitization Trust out of general collections in the collection account (or equivalent account)
established under such Non-Lead Securitization Servicing Agreement for such Non-Lead Securitization Note Holder’s pro rata
share of any such Servicing Advances that are Nonrecoverable Advances (and Advance Interest thereon) and/or additional trust fund expenses
under the Lead Securitization Servicing Agreement relating to the Mortgage Loan, 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, in each
case;

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

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

    	 	-21-	 

    	 

    

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

(d)              
Following the Securitization of one Note, but prior to the Securitization of any other particular Note (including any New Note), all
notices, reports, information or other deliverables required to be delivered to a Note Holder pursuant to this Agreement or the Lead
Securitization Servicing Agreement by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its
behalf) only need to be delivered to the related Note Holder (or its Note Holder Representative) and, when so delivered to such Note
Holder (or Note Holder Representative, as applicable), the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer
acting on its behalf) shall be deemed to have satisfied its delivery obligations with respect to such items hereunder or under the Lead
Securitization Servicing Agreement. Following the Securitization of any Note (including any New Note), as applicable, all notices, reports,
information or other deliverables required to be delivered to a Note Holder pursuant to this Agreement or the Lead Securitization Servicing
Agreement by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be delivered
to the master servicer and the special servicer with respect to such Securitization (who then may forward such items to the party entitled
to receive such items as and to the extent provided in the related Securitization Servicing Agreement or with respect to a Note that
has not been securitized, the related Note Holder) and, when so delivered to such master servicer and the special servicer, the Lead
Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall be deemed to have satisfied its
delivery obligations with respect to such items hereunder or under the Lead Securitization Servicing Agreement; provided, however,
that all items that relate to a Non-Lead Depositor’s compliance with any applicable securities laws shall also be delivered to
such Non-Lead Depositor.

(e)              
In addition to the foregoing, each Securitization Servicing Agreement shall contain terms and conditions that are customary for securitization
transactions involving assets similar to the Mortgage Loan and that are otherwise (i) required by the Code relating to the tax
elections of the trust fund formed pursuant to such Securitization Servicing Agreement, (ii) required by law or changes in any
law, rule or regulation or (iii) requested by the Rating Agencies rating the related Securitization. Each Non-Lead Securitization
Note Holder shall have the right to designate the Non-Lead Master Servicer and Non-Lead Special Servicer with respect to the Securitization
related to its Note, as long as each such Servicer satisfies the conditions to be the master servicer or special servicer, as applicable,
set forth in the Lead Securitization Servicing Agreement. Without limiting the generality of any provision set forth above, for purposes
of the Mortgage Loan, each Securitization Servicing Agreement shall contain provisions substantially similar in all material respects
to or materially consistent with those set forth in the pooling and servicing agreement for the Lead Securitization with respect to indemnification
of the Depositor, Master Servicer, Special Servicer, Certificate Administrator, Trustee and Operating Advisor under the Lead Securitization
Servicing Agreement (and any director, officer, employee or agent of any of the foregoing, to the extent such parties are identified
as indemnified parties in the Lead Securitization Servicing Agreement in respect of other mortgage loans) against any claims, losses,
penalties, fines, forfeitures, legal fees and related costs, judgments and any other costs, liabilities, fees and expenses incurred in
connection with servicing and administration of the Mortgage Loan (or, with respect to the related operating

    	 	-22-	 

    	 

    

advisor,
incurred in connection with the provision of services for the Mortgage Loan) to the same extent that the Indemnified Parties are indemnified
under the Lead Securitization Servicing Agreement against the Indemnified Items.

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

(g)              
The Lead Securitization Note Holder agrees that it shall cause the Lead Securitization Servicing Agreement to provide as follows (and
to the extent such following provisions are not included in the Lead Securitization Servicing Agreement, they shall be deemed incorporated
therein and made a part thereof):

(i)               
the Master Servicer or Trustee shall be required to provide written notice to each Non-Lead Master Servicer and each Non-Lead Trustee
of any P&I Advance it has made with respect to the Lead Securitization Note within two (2) Business Days of making such advance;

(ii)              
if the Master Servicer determines that a proposed P&I Advance with respect to the Lead Securitization Note or Servicing Advances
with respect to the Mortgage Loan, if made, or any outstanding P&I Advance or Servicing Advances previously made, would be, or is,
as applicable, a Nonrecoverable Advance, the Master Servicer shall provide each Non-Lead Master Servicer written notice of such determination
within two (2) Business Days after such determination was made;

(iii)               
the Master Servicer shall remit all payments received with respect to each Non-Lead Securitization Note, net of the servicing fees payable
to the Master Servicer and Special Servicer with respect to such Non-Lead Securitization Note, and any other applicable fees and reimbursements
payable to the Master Servicer, the Special Servicer and the Trustee, to the applicable Non-Lead Securitization Note Holder by the earlier
of (x) the “master servicer remittance date” (or any term substantially similar thereto) as defined in the Lead Securitization
Servicing Agreement and (y) the Business Day following the “determination date” (or any term substantially similar thereto)
as defined in the related Non-Lead Securitization Servicing Agreement (such determination date, the “Non-Lead Securitization Determination
Date”), in each case as long as the date on which remittance is required under this clause (iii) is at least one
Business Day after the scheduled Monthly Payment Date under the Mortgage Loan Agreement;

(iv)               
with respect to each Non-Lead Securitization Note that is held by a Securitization, the Master Servicer agrees to deliver or cause to
be delivered or to make available to the related Non-Lead Master Servicer all loan-level reports constituting the CREFC®
Investor Reporting Package) pursuant to the terms of the Lead Securitization Servicing Agreement, to the extent related to the Mortgage
Loan, the Mortgaged

    	 	-23-	 

    	 

    

Property,
such Non-Lead Securitization Note, the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, by the earlier
of (x) the “master servicer remittance date” (or any term substantially similar thereto) as defined in the Lead Securitization
Servicing Agreement and (y) the Business Day following the applicable Non-Lead Securitization Determination Date, in each case so long
as the date on which delivery is required under this clause (iv) is at least one Business Day after the scheduled Monthly
Payment Date under the Mortgage Loan Agreement;

(v)              
the servicing duties of each of the Master Servicer and Special Servicer under the Lead Securitization Servicing Agreement shall include
the duty to service the Mortgage Loan and all of the Notes on behalf of the Note Holders (including the respective trustees and certificateholders)
in accordance with the terms and provisions of this Agreement, the Lead Securitization Servicing Agreement and the Servicing Standard;

(vi)               
each Non-Lead Securitization Note Holder shall be entitled to the same indemnity as the Lead Securitization Note Holder under the Lead
Securitization Servicing Agreement with respect to the following items; each of the Master Servicer, the Special Servicer, the Trustee,
the Certificate Administrator, the Operating Advisor, and the Custodian shall be required to indemnify each Certifying Person and each
Non-Lead Depositor for any public Other Securitization Trust, and their respective directors and officers and controlling persons, to
the same extent that they indemnify the Depositor (as depositor in respect of the Lead Securitization) and each Certifying Person for
(a) its failure to deliver the items in clause (vii) below in a timely manner, (b) its failure to perform its obligations to such
Non-Lead Depositor or applicable Non-Lead Trustee under Article XI (or any article substantially similar thereto that addresses Exchange
Act reporting and Regulation AB compliance) of the Lead Securitization Servicing Agreement by the time required after giving effect to
any applicable grace period or cure period, (c) the failure of any Servicing Function Participant or Additional Servicer retained by
it (other than any Initial Sub-Servicer) to perform its obligations to such Non-Lead Depositor or Non-Lead Trustee under Article XI (or
any article substantially similar thereto that addresses Exchange Act reporting and Regulation AB compliance) of the Lead Securitization
Servicing Agreement by the time required after giving effect to any applicable grace period or cure period; and/or (d) any deficient
Exchange Act report regarding, and delivered by or on behalf of, such party;

(vii)              
each of the Master Servicer, the Special Servicer, the Operating Advisor, the Custodian, the Certificate Administrator and the Trustee
shall (i) with respect to any Initial Sub-Servicer engaged by it that is a Servicing Function Participant or Additional Servicer, use
commercially reasonable efforts to cause such party to and (ii) with respect to each other Additional Servicer and each Servicing Function
Participant with which, in each case, it has entered into a servicing relationship with respect to the Mortgage Loan, cause such party
to comply with the foregoing Section 2(h)(vi) by inclusion of similar provisions in the related sub-servicing or similar agreement;

(viii)               
the Master Servicer, any primary servicer, the Special Servicer and the Lead Trustee, Certificate Administrator or other party acting
as custodian for the Lead

    	 	-24-	 

    	 

    

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 each Non-Lead Servicing
Agreement, in a timely manner, (i) the reports, certifications, compliance statements, accountants’ assessments and attestations,
any Lead Servicing Agreement amendments, and all information (including information regarding any replacement Servicer) to be included
in reports (including, without limitation, Form ABS 15G, Form 10K, Form 10D and Form 8K), and (ii) upon request, any other materials
specified in the related Non-Lead Servicing Agreement, in the case of clauses (i) and (ii), as the parties to each Non-Lead
Securitization may reasonably require in order to comply with their obligations under the Securities Act and the Exchange Act (including
Rule 15Ga-1) and Regulation AB, and any other applicable law. Without limiting the generality of the foregoing, the Lead Note Holder
shall provide in a timely manner to each Non-Lead Depositor and each Non-Lead Trustee a copy of the Lead Securitization Servicing Agreement
in EDGAR-compatible format (but not later than one Business Day following the closing date of the Lead Securitization) and each Servicer
under the Lead Securitization Servicing Agreement will be required, upon prior written request, to provide to each Non-Lead Depositor
and each Non-Lead Trustee 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 each case in a timely manner for inclusion
in any disclosure document (and, with respect to the Lead Securitization Servicing Agreement and a replacement Servicer, for filing under
Form 8-K), and with respect to such Servicers, upon prior written request, at the expense of the requesting party, 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 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 applicable Non-Lead Securitization Servicing Agreement;

(ix)               
each of the Master Servicer, the Special Servicer, the Custodian and the Trustee and each Affected Reporting Party shall cooperate (and
require each Servicing Function Participant and Additional Servicer retained by it to cooperate under the applicable Sub-Servicing Agreement),
with each Non-Lead Depositor to the same extent as such party is required to cooperate with the Lead Depositor under the Lead Securitization
Servicing Agreement in connection with the reporting requirements under the Securities Act, the Exchange Act, the Sarbanes-Oxley Act
and the rules and regulations promulgated thereunder. All respective reasonable out-of-pocket costs and expenses incurred by each Non-Lead
Depositor (including reasonable legal fees and expenses of outside counsel to such depositor) in connection with the foregoing (other

    	 	-25-	 

    	 

    

than
those costs and expenses related to participation by such Non-Lead Depositor in any telephone conferences and meetings with the Commission
and other costs such Non-Lead Depositor must bear pursuant to the Lead Securitization Servicing Agreement) and any amendments to any
reports filed with the Commission therewith shall be promptly paid by the applicable Affected Reporting Party upon receipt of an itemized
invoice from such Non-Lead Depositor;

(x)              
any late collections received by the Master Servicer from the Mortgage Loan Borrower that are allocable to a Non-Lead Securitization
Note or reimbursable to a Non-Lead Master Servicer or a Non-Lead Trustee in accordance with this Agreement shall be remitted by the Master
Servicer to the Non-Lead Master Servicer within one (1) Business Day of receipt and identification thereof unless such amount would otherwise
be included in the monthly remittance to the related Non-Lead Securitization Note Holder for such month; provided, however,
that to the extent any such amounts are received after 3:00 p.m. Eastern time on any given Business Day, the Master Servicer shall
use commercially reasonable efforts to remit such late collections to each applicable Non-Lead Master Servicer within one (1) Business
Day of receipt of properly identified funds but, in any event, the Master Servicer shall remit such amounts within two (2) Business Days
of receipt of properly identified funds;

(xi)               
each Non-Lead Securitization Note Holder is an intended third-party beneficiary in respect of the rights afforded it under the Lead Securitization
Servicing Agreement;

(xii)              
each Non-Lead Master Servicer and each Non-Lead Special Servicer shall be a third-party beneficiary of the Lead Securitization Servicing
Agreement with respect to all provisions therein expressly relating to compensation, reimbursement or indemnification of such Non-Lead
Master Servicer or such Non-Lead Special Servicer, as the case may be, and the provisions regarding coordination of advances;

(xiii)               
if the Mortgage Loan becomes a Defaulted Loan and the Special Servicer determines to sell the Lead Securitization Note in accordance
with the Lead Securitization Servicing Agreement, it shall have the right and the obligation to sell all of the Notes as notes evidencing
one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement. In connection with any such sale, the Special
Servicer shall provide notice to each Non-Lead Master Servicer who shall provide notice to the related Non-Controlling Note Holder of
the planned sale;

(xiv)               
the Lead Securitization Servicing Agreement shall not be amended in any manner that materially and adversely affects the rights of any
Non-Lead Securitization Note Holder without the consent of such Non-Lead Securitization Note Holder;

(xv)              
to the extent related to the Mortgage Loan, the Master Servicer or the Special Servicer, any Rating Agency Confirmation shall be provided
with respect to the commercial mortgage pass-through certificates issued in connection with each the Non-Lead Securitization to the same
extent provided with respect to the commercial mortgage pass-through certificates issued in connection with the Lead Securitization;

    	 	-26-	 

    	 

    

(xvi)               
“Servicer Termination Events” (or any analogous term under the Lead Securitization Servicing Agreement) include customary
market termination events with respect to failure to make advances, failure to timely remit payments to the Non-Lead Note Holders as
required hereunder or under the Lead Securitization Servicing Agreement (subject to no more than one Business Day grace period), failure
to timely deposit amounts into any REO Account or to remit to a Servicer for deposit into a related collection or custodial account,
failure to deliver (or cause to be delivered) materials or information required in order for each Non-Lead Note Holder or each Non-Lead
Depositor to timely comply with its obligations under the Exchange Act, the Securities Act and Form SF-3, and for rating agency downgrades
or other triggers with respect to any certificates issued in connection with a Non-Lead Securitization, subject to customary grace periods
(provided that, in the case of failures related to the securities laws, such grace periods will not cause a Non-Lead Depositor to fail
to comply with the applicable provisions of such securities laws). Upon the occurrence of such a Servicer Termination Event with respect
to the Master Servicer affecting a Non-Lead Securitization Note Holder and the Master Servicer is not otherwise terminated pursuant to
the Lead Securitization Servicing Agreement, the Master Servicer shall be required, upon the direction of such Non-Lead Securitization
Note Holder, to appoint a subservicer with respect to such Non-Lead Securitization Note. Upon the occurrence of a Servicer Termination
Event with respect to the Special Servicer affecting a Non-Lead Securitization Note Holder and the Special Servicer is not otherwise
terminated pursuant to the Lead Securitization Servicing Agreement, the Trustee shall, upon direction of such Non-Lead Securitization
Note Holder, terminate the Special Servicer with respect to, but only with respect to, the Mortgage Loan;

(xvii)              
in connection with (A) any amendment of the Lead Securitization Servicing Agreement, a party to such Lead Securitization Servicing Agreement
is required to provide a copy of the executed amendment to each Non-Lead Depositor and one or more parties to the related Non-Lead Securitization
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
Lead Securitization Servicing Agreement, the replacement “master servicer” or replacement “special servicer”,
as applicable, is required to provide to each Non-Lead Depositor and one or more parties to the related Non-Lead Securitization Servicing
Agreement all disclosure about itself that is required to be included in Form 8-K no later than the date of effectiveness thereof;

(xviii)               
if a Non-Lead Securitization Note becomes the subject of an Asset Review pursuant to the related Non-Lead Securitization Servicing Agreement,
the Master Servicer, the Special Servicer, the Trustee and the Custodian shall reasonably cooperate with the related 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 (x) such documents are in the possession of
the Master Servicer, the Special Servicer, the Trustee or the Custodian, as the case may be, and (y) such Non-

    	 	-27-	 

    	 

    

Lead
Asset Representations Reviewer has not been able to obtain such documents from the related mortgage loan seller; and

(xix)               
any conflict between the Lead Securitization Servicing Agreement and this Agreement shall be resolved in favor of this Agreement.

(h)              
Unless UBS AG, New York Branch is the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder and the Note A-4 Holder, the holder of
each Lead Securitization Note shall:

(i)              
on or promptly after, but in no event more than two (2) Business Days after, the closing date of the Lead Securitization, send a copy
(in EDGAR-compatible format) of the Lead Securitization Servicing Agreement to each other Note Holder; and

(ii)              
give each other Note Holder written notice in a timely manner (but no later than one (1) Business Day prior to the applicable filing
date) of any re-filing (other than a filing made in connection with a formal amendment of the Lead Securitization Servicing Agreement)
by the Depositor of the Lead Securitization Servicing Agreement subsequent to the Securitization Date.

Section
3.                Priority
of Payments. Each Note shall be of equal priority, and no portion of any Note shall have priority or preference over any portion
of any other Note or security therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise available for payment on or with
respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds thereof, whether received
in the form of Scheduled Interest Payments, Scheduled Principal Payments, any proceeds from the sale or distribution of any REO Property,
the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other collateral or instrument securing the
Mortgage Loan, Condemnation Proceeds, or Insurance Proceeds (other than proceeds, awards or settlements to be applied to the restoration
or repair of the Mortgaged Property or released to the Mortgage Loan Borrower in accordance with the terms of the Mortgage Loan Documents,
to the extent permitted by the REMIC Provisions), shall be applied by the Lead Securitization Note Holder (or its designee) to the Notes
on a Pro Rata and Pari Passu Basis; provided, that (x) all amounts for required reserves or escrows required by the Mortgage Loan
Documents (to the extent and in accordance with the terms of the Mortgage Loan Documents) to be held as reserves or escrows or received
as reimbursements on account of recoveries in respect of property protection expenses or Servicing Advances then due and payable or reimbursable
to the Trustee or any Servicer under the Lead Securitization Servicing Agreement shall be applied to the extent set forth in, and in
accordance with the terms of, the Mortgage Loan Documents; and (y) all amounts that are then due, payable or reimbursable to any Servicer
with respect to the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement and any other additional compensation payable
to it thereunder (including without limitation, any additional trust fund expenses under the Lead Securitization Servicing Agreement
relating to the Mortgage Loan (but subject to the second paragraph of Section 5(d) hereof) reimbursable to, or payable by, such
parties and any Special Servicing Fees, Liquidation Fees, Workout Fees, Penalty Charges (to the extent provided in the immediately following
paragraph), but excluding (i) any P&I Advances (and interest thereon) on

    	 	-28-	 

    	 

    

the
Lead Securitization Note, which shall be reimbursed in accordance with Section 2(b) hereof, and (ii) any Servicing Fees due to
the Master Servicer in excess of each Non-Lead Securitization Note’s pro rata share of that portion of such servicing fees
calculated at the “primary servicing fee rate” applicable to the Mortgage Loan as set forth in the Lead Securitization Servicing
Agreement, which such excess shall not be subject to the allocation provisions of this Section 3) shall be payable in accordance
with the Lead Securitization Servicing Agreement.

For
clarification purposes, “Penalty Charges” (or analogous term as defined in the Lead Securitization Servicing Agreement) paid
on each Note shall, first, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary
to pay the Master Servicer, the Trustee or the Special Servicer for any interest accrued on any Servicing Advances and reimbursement
of any Servicing Advances in accordance with the terms of the Lead Securitization Servicing Agreement, second, be used to reduce
the respective amounts payable on each Note by the amount necessary to pay the Master Servicer, Trustee, any Non-Lead Master Servicer
or any Non-Lead Trustee, as applicable, for any interest accrued on any P&I Advance made with respect to such Note by such party
(if and as specified in the Lead Securitization Servicing Agreement or applicable Non-Lead Securitization Servicing Agreement, as applicable),
third, be used to reduce, on a pro rata basis, the amounts payable on each Note by the amount necessary to pay additional
trust fund expenses under the Lead Securitization Servicing Agreement (other than Special Servicing Fees, unpaid Workout Fees and Liquidation
Fees) incurred with respect to the Mortgage Loan (as specified in the Lead Securitization Servicing Agreement) and finally, with
respect to any remaining amount of Penalty Charges, to the Master Servicer and/or the Special Servicer as additional servicing compensation
as provided in the Lead Securitization Servicing Agreement. Any proceeds received from the sale of the primary servicing rights with
respect to the Mortgage Loan shall be remitted, promptly upon receipt thereof, to the Note-Holders on a pro rata and pari passu
basis. Any proceeds received by any Note-Holder from the sale of master servicing rights with respect to its Note shall be for its
own account.

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

Section
5.                Administration
of the Mortgage Loan.

(a)              
Subject to this Agreement (including, without limitation, Section 5(c)) and the Lead Securitization Servicing Agreement and subject
to the rights and consents, where required, of the Controlling Note Holder Representative, the Lead Securitization Note Holder (or the
Master Servicer, the Special Servicer or the Trustee acting on its behalf), shall have the sole and exclusive authority with respect
to the administration of, and exercise of rights and remedies

    	 	-29-	 

    	 

    

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

Each
Note Holder hereby acknowledges the right and obligation of the Lead Securitization Note Holder (or the Special Servicer acting on behalf
of the Lead Securitization Note Holder), upon the Mortgage Loan becoming a Defaulted Loan, to sell the Notes together as notes evidencing
one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement. In connection with any such sale, the Special
Servicer shall be required to sell the Notes together as notes evidencing one whole loan and shall require that all offers be submitted
to the Special Servicer in writing. Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Special Servicer acting
on its behalf) shall not be permitted to sell the Mortgage Loan without the written consent of each Non-Lead Securitization Note Holder
(unless with respect to each Non-Lead Securitization Note Holder, 50% or more of the related Note (or the class of securities issued
in the applicable Non-Lead Securitization designated as the “controlling class” or such other class(es) otherwise assigned
the rights to exercise the rights of the “Controlling Note Holder” is held by the Mortgage Loan Borrower or an Affiliate
of the Mortgage Loan Borrower) unless the Special Servicer has delivered to each Non-Lead Securitization Note Holder: (a) at least
fifteen (15) Business Days prior written notice of any decision to attempt to sell the Mortgage Loan; (b) at least ten (10) days
prior to the proposed sale date, a copy of each bid package (together with any amendments to such bid packages) received by the Special
Servicer in connection with any such proposed sale; (c) at least ten (10) days prior to the proposed sale date, a copy of the
most recent Appraisal for the Mortgage Loan, and any documents in the Servicer Mortgage File requested by such Non-Lead Securitization
Note Holder; and (d) until the sale is completed, and a reasonable period of time (but no less time than is afforded to other
offerors and the related Lead Securitization Controlling Class Representative prior to the proposed sale date, all information and other
documents being provided to other offerors and all leases or other documents that are approved by the Master Servicer or the Special

    	 	-30-	 

    	 

    

Servicer
in connection with the proposed sale; provided, that such Non-Lead Securitization Note Holder may waive (only with respect to itself)
any of the delivery or timing requirements set forth in this sentence. Subject to the foregoing, each Note Holder or its Note Holder
Representative shall be permitted to submit an offer at any sale of the Mortgage Loan unless such Person is the Mortgage Loan Borrower
or an agent or Affiliate of the Mortgage Loan Borrower.

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

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

(b)              
The administration of the Mortgage Loan shall be governed by this Agreement and the Lead Securitization Servicing Agreement. The servicing
of the Mortgage Loan shall be carried out by the Master Servicer and, if the Mortgage Loan is a Specially Serviced Mortgage Loan (or
to the extent otherwise provided in the Lead Securitization Servicing Agreement), by the Special Servicer, in each case pursuant to the
Lead Securitization Servicing Agreement. Notwithstanding anything to the contrary contained herein, in accordance with the Lead Securitization
Servicing Agreement, the Lead Securitization Note Holder shall cause the Master Servicer and the Special Servicer to service and administer
the Mortgage Loan in accordance with the Servicing Standard, taking into account the interests of each Note Holder. The Note Holders
agree to be bound by the terms of the Lead Securitization Servicing Agreement. All rights and obligations of the Lead Securitization
Note Holder described

    	 	-31-	 

    	 

    

hereunder
may be exercised by the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee on behalf of the Lead Securitization
Note Holder to the extent set forth in the Lead Securitization Servicing Agreement. The Lead Securitization Servicing Agreement shall
not be amended in any manner that may adversely affect any Non-Lead Securitization Note Holder in its capacity as Non-Lead Securitization
Note Holder without such Non-Lead Securitization Note Holder’s prior written consent. Each Non-Lead Securitization Note Holder
(unless it is the same Person as, or is an Affiliate of, the Mortgage Loan Borrower) shall be a third-party beneficiary to the Lead Securitization
Servicing Agreement with respect to its rights as specifically provided for therein.

(c)              
Notwithstanding the foregoing, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf)
shall be required (i) to provide copies of any notice, information and report that it is required to provide to the Lead Securitization
Controlling Class Representative pursuant to the Lead Securitization Servicing Agreement with respect to any Major Decisions or the implementation
of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan, to each Non-Lead Securitization Note Holder
(or its Note Holder Representative), within the same time frame it is required to provide to the Lead Securitization Controlling Class
Representative (for this purpose, without regard to whether such items are actually required to be provided to the Lead Securitization
Controlling Class Representative under the Lead Securitization Servicing Agreement due to the expiration of the related “Subordinate
Control Period” (as defined under the Lead Securitization Servicing Agreement) or the “Collective Consultation Period”
(as defined under the Lead Securitization Servicing Agreement)) and (ii) to use reasonable efforts to consult with each Non-Controlling
Note Holder (or its Non-Controlling Note Holder Representative) on a strictly non-binding basis, to the extent having received such notices,
information and reports, such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) requests consultation with
respect to any such Major Decisions or the implementation of any recommended actions outlined in an Asset Status Report relating to the
Mortgage Loan, and consider alternative actions recommended by such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative);
provided that after the expiration of a period of ten (10) Business Days from the delivery to such Non-Controlling Note Holder
(or its Non-Controlling Note Holder Representative) by the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer
acting on its behalf) of written notice of a proposed action, together with copies of the notice, information and report required to
be provided to the Lead Securitization Controlling Class Representative, the Lead Securitization Note Holder (or the Master Servicer
or the Special Servicer acting on its behalf) shall no longer be obligated to consult with such Non-Controlling Note Holder (or its Non-Controlling
Note Holder Representative), whether or not such Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) has
responded within such ten (10) Business Day period (unless, the Lead Securitization Note Holder (or the Master Servicer or the Special
Servicer acting on its behalf) proposes a new course of action that is materially different from the action previously proposed, in which
case such ten (10) Business Day period shall be deemed to begin anew from the date of such proposal and delivery of all information relating
thereto). Notwithstanding the consultation rights of each Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative)
set forth in the immediately preceding sentence, the Lead Securitization Note Holder (or Master Servicer or Special Servicer, acting
on its behalf) may take any Major Decision or any action set forth in the Asset Status Report before the expiration of the

    	 	-32-	 

    	 

    

aforementioned
ten (10) Business Day period if the Lead Securitization Note Holder (or Master Servicer or Special Servicer, as applicable) determines
that immediate action with respect thereto is necessary to protect the interests of the Note Holders. In no event shall the Lead Securitization
Note Holder (or Master Servicer or Special Servicer, acting on its behalf) be obligated at any time to follow or take any alternative
actions recommended by the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative).

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

(d)              
If any Note is included as an asset of a REMIC within the meaning of Section 860D(a) of the Code, then, any provision of this
Agreement to the contrary notwithstanding: (i) the Mortgage Loan shall be administered such that the Notes shall qualify at all
times as (or as interests in) a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code, (ii) any
real property (and related personal property) acquired by or on behalf of the Note Holders pursuant to a foreclosure, exercise of a power
of sale or delivery of a deed in lieu of foreclosure of the Mortgage or lien on such property following a default on the Mortgage Loan
shall be administered so that the interest of the pro rata share of each Note Holder therein shall at all times qualify as “foreclosure
property” within the meaning of Section 860G(a)(8) of the Code and (iii) no Servicer may modify, waive or amend any
provision of the Mortgage Loan, consent to or withhold consent from any action of the Mortgage Loan Borrower, or exercise or refrain
from exercising any powers or rights which the Note Holders may have under the Mortgage Loan Documents, if any such action would constitute
a “significant modification” of the Mortgage Loan, within the meaning of Section 1.860G-2(b) of the regulations of
the United States Department of the Treasury, more than three (3) months after the startup day of the REMIC which includes the Notes
(or any portion thereof). Each Note Holder agrees that the provisions of this paragraph shall be effected by compliance with any REMIC
related provisions in the Lead Securitization Servicing Agreement relating to the administration of the Mortgage Loan. All costs and
expenses of compliance with this Section 5(d), to the extent that such costs and expenses relate to administration of a REMIC
or to any determination respecting the amount, payment or avoidance of any tax under the REMIC Provisions or the actual payment of any
REMIC tax or expense, shall be borne by all of the Note Holders collectively, each contributing on a pro rata and pari passu
basis according to the Percentage Interest represented by each Note.

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

    	 	-33-	 

    	 

    

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

Section
6.                Rights
of the Controlling Note Holder.

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

(b)              
The Controlling Note Holder shall be entitled to exercise the rights and powers granted to the Controlling Note hereunder and the rights
and powers granted to the Lead Securitization Controlling Class Representative with respect to the Mortgage Loan (assuming that a “Subordinate
Control Period” or similar period under, and as defined in, the Lead Securitization Servicing Agreement is in effect). In addition,
the Controlling Note Holder shall be entitled to advise (1) the Special Servicer with respect to all matters related to the Mortgage
Loan if it is a Specially Serviced Mortgage Loan and (2) the Special Servicer with respect to all matters for which the Master Servicer
must obtain the consent or deemed consent of the Special Servicer, and, except as set forth below (i) the Master Servicer shall not be
permitted to implement any Major Decision unless it has obtained the prior written consent of the Special Servicer and (ii) the Special
Servicer shall not be permitted to consent to the Master Servicer’s implementing any Major Decision nor will the Special Servicer
itself be permitted to implement any Major Decision as to which the Controlling Note Holder has objected in writing within ten (10) Business
Days (or thirty (30) days with respect to an Acceptable Insurance Default) after

    	 	-34-	 

    	 

    

receipt
of the written recommendation and analysis and such additional information requested by the Controlling Note Holder as may be necessary
in the reasonable judgment of the Controlling Note Holder in order to make a judgment with respect to such Major Decision. The Controlling
Note Holder may also direct the Special Servicer to take, or to refrain from taking, such other actions with respect to the Mortgage
Loan as the Controlling Note Holder may deem advisable.

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

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

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

(c)       Each
Non-Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise of its rights
and obligations with respect to the Mortgage Loan (with respect to such Note Holder, the “Non-Controlling Note Holder Representative”).
All of the provisions relating to the Controlling Note Holder and the Controlling Note Holder Representative set forth in the first
paragraph of this Section 6(a) (except those contained in the last sentence thereof) and the second paragraph of this
Section 6(a) shall apply to each Non-Controlling Note Holder and its Non-Controlling Note Holder Representative mutatis mutandis.
Each Non-Controlling Note Holder Representative, as of the date of this Agreement and until the Lead Securitization Note Holder (and
the Master Servicer and the Special Servicer) is notified otherwise, shall be the Note A-1 Holder, the Note A-2 Holder, the Note A-3
Holder and the Note A-4 Holder, as applicable, provided that at any time a Non-Lead Securitization Note is included in a Securitization,
references to the “Non-

    	 	-35-	 

    	 

    

Controlling
Note Holder” herein shall mean the related “Directing Certificateholder”, “Directing Holder” or “Controlling
Class Representative” (or analogous term) under the Non-Lead Securitization or any other party assigned the rights to exercise
the rights of the related “Non-Controlling Note Holder” hereunder, as and to the extent provided in the related Non-Lead
Securitization Servicing Agreement and as to the identity of which the Lead Securitization Note Holder (and the Master Servicer and the
Special Servicer) has been given written notice.

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

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

(e)       No
Note Holder Representative will have any liability to any other Note Holder or any other Person for any action taken, or for refraining
from the taking of any action or the giving of any consent or the failure to give any consent pursuant to this Agreement or any Securitization
Servicing Agreement, or errors in judgment, absent any loss, liability or expense incurred by reason of its willful misfeasance, bad
faith or gross negligence. The Note Holders agree that a Note Holder Representative may take or refrain from taking actions, or give
or refrain from giving consents, that favor the interests of one Note Holder over any other Note Holder, and that any Note Holder Representative
may have special relationships and interests that conflict with the interests of any other Note Holder and, absent willful malfeasance,
bad faith or gross negligence on the part of the Note Holder Representative, agree to take no action against the Note Holder Representative
or any of its officers, directors, employees, principals or

    	 	-36-	 

    	 

    

agents
as a result of such special relationships or interests, and that no Note Holder Representative will be deemed to have been grossly negligent
or reckless, or to have acted in bad faith or engaged in willful malfeasance or to have recklessly disregarded any exercise of its rights
by reason of its having acted or refrained from acting, or having given any consent or having failed to give any consent, solely in the
interests of any Note Holder.

Section
7.                Appointment
of Special Servicer. The Controlling Note Holder (or its Controlling Note Holder Representative) shall have the right (subject to
the terms, conditions and limitations in the Lead Securitization Servicing Agreement) at any time and from time to time, with or without
cause, to replace the Special Servicer then acting with respect to the Mortgage Loan and appoint a replacement Special Servicer that
satisfies the Required Special Servicer Rating requirements in lieu thereof. Any designation by the Controlling Note Holder (or its Controlling
Note Holder Representative) of a Person to serve as Special Servicer shall be made by delivering to each other Note Holder, the Master
Servicer, the Special Servicer and each other party to the Lead Securitization Servicing Agreement a written notice stating such designation
and satisfying the other conditions to such replacement as set forth in the Lead Securitization Servicing Agreement (including, without
limitation, a Rating Agency Communication or a Rating Agency Confirmation, but only if required by the terms of the Lead Securitization
Servicing Agreement), if any. The Controlling Note Holder shall be solely responsible for any expenses incurred in connection with any
such replacement without cause. The Controlling Note Holder shall notify the other parties hereto of its termination of the then currently
serving Special Servicer and its appointment of a replacement Special Servicer in accordance with this Section 7. If the Controlling
Note Holder has not appointed a Special Servicer with respect to the Mortgage Loan as of the consummation of the securitization under
the Lead Securitization Servicing Agreement, then the initial Special Servicer designated in the Lead Securitization Servicing Agreement
shall serve as the initial Special Servicer but this shall not limit the right of the Controlling Note Holder (or its Controlling Note
Holder Representative) to designate a replacement Special Servicer for the Mortgage Loan as aforesaid. If a Servicer Termination Event
on the part of the Special Servicer has occurred that affects any Non-Controlling Note Holder, such Non-Controlling Note Holder shall
have the right to direct the Trustee (or at any time that the Mortgage Loan is no longer included in a Securitization Trust, the Controlling
Note Holder) to terminate the Special Servicer under the Lead Securitization Servicing Agreement solely with respect to the Mortgage
Loan pursuant to and in accordance with the terms of the Lead Securitization Servicing Agreement. Each Note Holder acknowledges and agrees
that any successor special servicer appointed to replace the Special Servicer with respect to the Mortgage Loan that was terminated for
cause at a Non-Controlling Note Holder’s direction cannot at any time be the person (or an Affiliate thereof) that was so terminated
without the prior written consent of such Non-Controlling Note Holder. Each Non-Controlling Note Holder shall be solely responsible for
reimbursing the Trustee’s or the Controlling Note Holder’s, as applicable, costs and expenses, if not paid within a reasonable
time by the terminated special servicer and, in the case of the Trustee, that would otherwise be reimbursed to the Trustee from amounts
on deposit in the Lead Securitization’s collection account (or equivalent account).

    	 	-37-	 

    	 

    

Section
8.                Payment
Procedure.

(a)              
The Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on its behalf), in accordance
with the priorities set forth in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement, shall deposit
or cause to be deposited all payments allocable to the Notes to the “Collection Account” and/or “Serviced Companion
Loan Custodial Account” (or the related analogous term and each as defined in the Lead Securitization Servicing Agreement) pursuant
to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder (or the Master Servicer, the
Special Servicer or the Trustee acting on its behalf) shall deposit such amounts to the applicable account within two (2) Business Days
of receipt by it of properly identified and available funds by the Lead Securitization Note Holder (or the Master Servicer acting on
its behalf) from or on behalf of the Mortgage Loan Borrower.

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

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

(d)              
Each Note Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan
in excess of its distributable share thereof, it shall promptly remit such excess to the applicable Note Holder, subject to this Agreement
and the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder shall have the right to offset any amounts due hereunder
from any Non-Lead Securitization Note Holder with respect to the Mortgage Loan against any future payments due to such Non-Lead Securitization
Note Holder under the Mortgage Loan. Such Non-Lead

    	 	-38-	 

    	 

    

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

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

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

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

    	 	-39-	 

    	 

    

Holder
may reasonably request for the better assuring and evidencing of the foregoing appointment and grant. All actions taken by any Servicer
in connection with any Insolvency Proceeding are subject to and must be in accordance with the Servicing Standard and the terms of this
Agreement.

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

(i)               
the execution, delivery and performance of this Agreement is within its corporate powers, has been duly authorized by all necessary corporate
action, and does not contravene such Note Holder’s charter or any law or contractual restriction binding upon such Note Holder,

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

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

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

(v)              
to such Note Holder’s actual knowledge, (A) all consents, approvals, authorizations, orders or filings of or with any court or
governmental agency or body, if any, required for the execution, delivery and performance of this Agreement by such Note Holder have
been obtained or made and (B) there is no pending action, suit or proceeding, arbitration or governmental investigation against such
Note Holder, an adverse outcome of which would materially and adversely affect its performance under this Agreement.

(b)              
The Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder and the Note A-4 Holder each represents and warrants to each other Note
Holder that as of the date hereof, it is a Qualified Institutional Lender.

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

    	 	-40-	 

    	 

    

mortgage
loans originated by the Lead Securitization Note Holder or its Affiliates, such offer shall be at such purchase price and interest rate
as the Lead Securitization Note Holder chooses, in its sole and absolute discretion. No Non-Lead Securitization Note Holders shall have
any obligation whatsoever to purchase from the Lead Securitization Note Holder a participation interest in any future loans originated
by the Lead Securitization Note Holder or its Affiliates.

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

Section
14.            Sale of the Notes.

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

    	 	-41-	 

    	 

    

consent
of any other Note Holder, the Rating Agencies or any other Person, to Transfer 49% or less (in the aggregate) of its beneficial interest
in a Note. None of the provisions of this Section 14(a) shall apply in the case of (1) a sale of Note A-1 together with Note A-2, Note
A-3 and Note A-4 in accordance with the terms and conditions of the Lead Securitization Servicing Agreement or (2) a transfer by the
Special Servicer, in accordance with the terms and conditions of the Lead Securitization Servicing Agreement, of the Mortgage Loan or
the Mortgaged Property, upon the Mortgage Loan becoming a Defaulted Loan, to a single member limited liability or limited partnership,
100% of the equity interest in which is owned directly or indirectly, through one or more single member limited liability companies or
limited partnerships, by the Lead Securitization Trust.

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

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

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

    	 	-42-	 

    	 

    

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

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

    	 	-43-	 

    	 

    

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

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

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

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

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

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

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

    	 	-44-	 

    	 

    

Holder
against any liability that may result if the transfer is not made in accordance with the provisions of this Agreement.

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

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

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

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

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

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

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

    	 	-45-	 

    	 

    

Agency
then rating any securities of any Securitization; provided that no such Rating Agency Communication shall be required in connection
with a modification (i) to cure any ambiguity, to correct any scrivener error, to correct or supplement any provisions herein that may
be defective or inconsistent with any other provisions herein or with the Lead Securitization Servicing Agreement, or (ii) with respect
to matters or questions arising under this Agreement to make provisions of this Agreement consistent with other provisions of this Agreement
(including without limitation, in connection with the creation of New Notes pursuant to Section 33).

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

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

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

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

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

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

    	 	-46-	 

    	 

    

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

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

(c)              
Each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) represents (for the benefit of the
Mortgage Loan Borrower) that it is not a Non-Exempt Person and that neither the Lead Securitization Note Holder nor the Mortgage Loan
Borrower is obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise pursuant
to this Agreement. Contemporaneously with the execution of this Agreement and from time to time as necessary during the term of this
Agreement, each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) shall deliver to the Lead
Securitization Note Holder or Servicer, as applicable, evidence satisfactory to the Lead Securitization Note Holder substantiating that
such Note Holder is not a Non-Exempt Person and that the Lead Securitization Note Holder is not obligated under applicable law to withhold
Taxes on sums paid to it with respect to the Mortgage Loan or otherwise under this Agreement. Without limiting the effect of the foregoing,
(i) if a Note Holder is created or organized under the laws of the United States, any state thereof or the District of Columbia,
it shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization Note Holder an Internal Revenue
Service Form W-9 and (ii) if a Note Holder is not created or organized under the laws of the United States, any state thereof
or the District of Columbia, and if the payment of interest or other amounts by the Mortgage Loan

    	 	-47-	 

    	 

    

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

Section
26.            Custody of Mortgage Loan Documents.
Prior to the Note A-1 Securitization Date, the Note A-2 Securitization Date, the Note A-3 Securitization Date and the Note A-4 Securitization
Date, the originals of all of the Mortgage Loan Documents (other than Note A-1, Note A-2, Note A-3 and Note A-4) will be held by the
Initial Agent on behalf of the registered holders of the Notes. If the Lead Securitization is not also the Note A-1 Securitization, then
on and after the Lead Securitization Date the originals of all of the Mortgage Loan Documents (other than Note A-1 and any other Notes
not included in such Lead Securitization) shall be held in the name of the trustee (and held by a duly appointed custodian therefor)
under the Lead Securitization Servicing Agreement on behalf of the registered holders of the Notes. On and after the Note A-1 Securitization
Date, the originals of all of the Mortgage Loan Documents (other than Note A-2, Note A-3 and Note A-4, unless any such Note is also included
in the Note A-1 Securitization) shall be transferred to and held in the name of the trustee (and held by a duly appointed custodian therefor)
under the Note A-1 PSA, on behalf of the registered holders of the Notes.

Section
27.            Cooperation in Securitization.

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

    	 	-48-	 

    	 

    

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

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

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

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

    	 	-49-	 

    	 

    

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

Section
29.            Broker. Each Note Holder represents
to each other that it has not dealt with any broker, investment banker, agent or other person that may be entitled to any commission
or compensation in connection with consummation of any of the transactions contemplated hereby.

Section
30.            Certain Matters Affecting the Agent.

(a)              
The Agent may request and/or rely upon and shall be protected in acting or refraining from acting upon any documents delivered to the
Agent pursuant to Section 14 and Section 15;

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

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

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

(e)              
The Agent shall not be bound to make any investigation into the facts or matters stated in any documents delivered to the Agent pursuant
to Section 15;

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

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

Section
31.            Reserved.

Section
32.            Resignation or Termination of Agent.
The Agent may resign at any time on ten (10) days’ prior notice, so long as a successor Agent, reasonably satisfactory to the Note
Holders (it being agreed that a Servicer, the Trustee or a Certificate Administrator in a Securitization is satisfactory to the Note
Holders), has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. UBS AG, as Initial Agent, may transfer
its rights and obligations to a Servicer, the Trustee or the Certificate Administrator, as successor Agent, at any time without the consent
of any Note Holder. Notwithstanding the foregoing, Note Holders

    	 	-50-	 

    	 

    

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

Section
33.            Resizing. Notwithstanding any other
provision of this Agreement, for so long as any Note Holder or an affiliate thereof (each, a “Resizing Entity”) is
the owner of any Note that is not included in a Securitization (each, an “Owned Note”), such Resizing Entity shall
have the right, subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated
notes or additional notes (in each case, as applicable “New Notes”) reallocating the principal of an Owned Note to
such New Notes; or severing an Owned Note into one or more further “component” notes in the aggregate principal amount equal
to the then outstanding principal balance of such Owned Note provided that (i) the aggregate principal balance of all outstanding
New Notes following such amendments is no greater than the aggregate principal of such Owned Note prior to such amendments, (ii) all
Notes continue to have the same weighted average interest rate as the Notes prior to such amendments, (iii) all Notes pay pro
rata and on a pari passu basis and such reallocated or component notes shall be automatically subject to the terms of this
Agreement, and (iv) the Resizing Entity holding the New Notes shall notify the Controlling Note Holder, the Master Servicer, the
Special Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations and principal amounts. If the
Lead Securitization Note Holder so requests, the Resizing Entity holding the New Notes (and any subsequent holder of such Notes) shall
execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified. Except for the foregoing reallocation
and for modifications pursuant to the Lead Securitization Servicing Agreement (as discussed in Section 5), no Note may be modified
or amended without the consent of its holder and the consent of the holder of each other Note. In connection with the foregoing, provided
the conditions set forth in clauses (i) through (iv) above are satisfied, the Master Servicer is hereby authorized and directed
to execute amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of the Note Holders, as applicable, solely
for the purpose of reflecting such reallocation of principal and that each New Note shall be a “Note” hereunder and for purposes
of adding and modifying any definitions related thereto. If more than one New Note is created hereunder, for purposes of exercising the
rights of a Controlling Note Holder or Non-Controlling Note Holder hereunder, the “Controlling Note Holder” or “Non-Controlling
Note Holder”, as applicable, shall be as provided in the definitions of such terms in this Agreement; provided that the Controlling
Note Holder shall be entitled to designate any New Note created from the existing Controlling Note to be a Non-Controlling Note hereunder.

[SIGNATURE
PAGE FOLLOWS]

    	 	-51-	 

    	 

    

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

 

	 	UBS AG,
    as Note A-1 Holder
	 	 
	 	 
	 	 By:  	/s/
    Andrew Lisa
	 	 	Name: Andrew
    Lisa 	
	 	 	Title:   Director	 
	 	 	 	 
	 	 
	 	 By:  	/s/
    Nicholas Galeone
	 	 	Name: Nicholas Galeone 	
	 	 	Title:   Managing
    Director	 
	 	 	 	 
	 	 	 	 
	 	UBS AG,
    as Note A-2 Holder
	 	 
	 	 
	 	 By:  	/s/
    Andrew Lisa
	 	 	Name: Andrew Lisa 	
	 	 	Title:   Director	 
	 	 	 	 
	 	 
	 	 By:  	/s/
    Nicholas Galeone
	 	 	Name: Nicholas Galeone 	
	 	 	Title:   Managing
    Director	 
	 	 	 	 
	 	 	 	 
	 	UBS AG,
    as Note A-3 Holder
	 	 
	 	 
	 	 By:  	/s/
    Andrew Lisa
	 	 	Name: Andrew Lisa 	
	 	 	Title:   Director	 
	 	 	 	 
	 	 
	 	 By:  	/s/
    Nicholas Galeone
	 	 	Name: Nicholas Galeone 	
	 	 	Title:   Managing
    Director	 

Phoenix
Industrial Portfolio VIII Agreement Between Note Holders

    	 		 

    	 

    

	 	UBS AG,
    as Note A-4 Holder
	 	 
	 	 
	 	 By:  	/s/
    Andrew Lisa
	 	 	Name: Andrew
    Lisa 	
	 	 	Title:   Director	 
	 	 	 	 
	 	 
	 	 By:  	/s/
    Nicholas Galeone
	 	 	Name: Nicholas Galeone 	
	 	 	Title:   Managing
    Director	 

Phoenix
Industrial Portfolio VIII Agreement Between Note Holders 

    	 		 

    	 

    

EXHIBIT
A

MORTGAGE
LOAN SCHEDULE

Description
of Mortgage Loan

 

	Mortgage
    Loan Borrower(s):	PHOENIX
    MOSSVILLE INDUSTRIAL INVESTORS LLC, PHOENIX ELDON INDUSTRIAL INVESTORS LLC, PHOENIX WEST MIFFLIN INDUSTRIAL INVESTORS LLC, PHOENIX
    CHURCH HILL INDUSTRIAL INVESTORS LLC and PHOENIX KINGSPORT INDUSTRIAL INVESTORS LLC
	Date
    of Mortgage Loan:	May
    10, 2022
	Date
    of Notes:	May
    10, 2022
	Original
    Principal Amount of Mortgage Loan:	$57,000,000
	Promissory
    Note A-1 Principal Balance:	$20,000,000
	Promissory
    Note A-2 Principal Balance:	$22,000,000
	Promissory
    Note A-3 Principal Balance:	$10,000,000
	Promissory
    Note A-4 Principal Balance:	$5,000,000
	Location
    of Mortgaged Property:	West
    Mifflin, PA, Church Hill, TN, Mossville, IL, Eldon, MO, Kingsport, TN
	Initial
    Maturity Date:	June
    6, 2032

 

    	 	A-1	 

    	 

    

EXHIBIT
B

 

1.       Note
A-1 Holder:

 

(Prior
to Securitization of Note A-1):

To
UBS AG, New York Branch:

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

1285
Avenue of the Americas

New
York, New York 10019

Attention: 
Henry Chung

Email: 
henry.chung@ubs.com

 

with
a copy to:

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

1285
Avenue of the Americas

New
York, New York 10019

Attention:
Chad Eisenberger

Email:
chad.eisenberger@ubs.com

 

with
a copy to:

Cadwalader,
Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Frank Polverino, Esq.

Facsimile No.: (212) 504-6666

Email: frank.polverino@cwt.com

 

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

 

2.       Note
A-2 Holder:

 

(Prior
to Securitization of Note A-2):

To
UBS AG, New York Branch:

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

1285
Avenue of the Americas

    	 	B-1	 

    	 

    

New
York, New York 10019

Attention: 
Henry Chung

Email: 
henry.chung@ubs.com

 

with
a copy to:

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

1285
Avenue of the Americas

New
York, New York 10019

Attention:
Chad Eisenberger

Email:
chad.eisenberger@ubs.com

 

with
a copy to:

Cadwalader,
Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Frank Polverino, Esq.

Facsimile No.: (212) 504-6666

Email: frank.polverino@cwt.com

 

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

 

3.       Note
A-3 Holder:

 

(Prior
to Securitization of Note A-3):

To
UBS AG, New York Branch:

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

1285
Avenue of the Americas

New
York, New York 10019

Attention: 
Henry Chung

Email: 
henry.chung@ubs.com

 

with
a copy to:

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

1285
Avenue of the Americas

New
York, New York 10019

Attention:
Chad Eisenberger

Email:
chad.eisenberger@ubs.com

    	 	B-2	 

    	 

    

 

with
a copy to:

Cadwalader,
Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Frank Polverino, Esq.

Facsimile No.: (212) 504-6666

Email: frank.polverino@cwt.com

 

Following
Securitization of Note A-3 the applicable notice addresses set forth in the related Securitization Servicing Agreement.

 

4.       Note
A-4 Holder:

 

(Prior
to Securitization of Note A-4):

To
UBS AG, New York Branch:

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

1285
Avenue of the Americas

New
York, New York 10019

Attention: 
Henry Chung

Email: 
henry.chung@ubs.com

 

with
a copy to:

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

1285
Avenue of the Americas

New
York, New York 10019

Attention:
Chad Eisenberger

Email:
chad.eisenberger@ubs.com

 

with
a copy to:

Cadwalader,
Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Frank Polverino, Esq.

Facsimile No.: (212) 504-6666

Email: frank.polverino@cwt.com

 

Following
Securitization of Note A-4 the applicable notice addresses set forth in the related Securitization Servicing Agreement.

    	 	B-3	 

    	 

    

 

 

EXHIBIT
C

PERMITTED
FUND MANAGERS

		1.	Alliance
                                            Bernstein

		2.	Annaly
                                            Capital Management

		3.	Apollo
                                            Real Estate Advisors

		4.	Archon
                                            Capital, L.P.

		5.	AREA
                                            Property Partners

		6.	Artemis
                                            Real Estate Partners

		7.	BlackRock,
                                            Inc.

		8.	Capital
                                            Trust, Inc.

		9.	Clarion
                                            Partners

		10.	Colony
                                            Capital, LLC / Colony Financial, Inc.

		11.	CreXus
                                            Investment Corporation/Annaly Capital Management

		12.	DLJ
                                            Real Estate Capital Partners

		13.	Dune
                                            Real Estate Partners

		14.	Eightfold
                                            Real Estate Capital, L.P.

		15.	Five
                                            Mile Capital Partners

		16.	Fortress
                                            Investment Group, LLC

		17.	Garrison
                                            Investment Group

		18.	Goldman,
                                            Sachs & Co.

		19.	H/2
                                            Capital Partners LLC

		20.	Hudson
                                            Advisors

		21.	Investcorp
                                            International

		22.	iStar
                                            Financial Inc.

		23.	J.P.
                                            Morgan Investment Management Inc.

		24.	JER
                                            Partners

		25.	KKR
                                            Real Estate Manager Finance LLC

		26.	Lend-Lease
                                            Real Estate Investments

		27.	Libremax
                                            Capital LLC

		28.	LoanCore
                                            Capital

		29.	Lone
                                            Star Funds

		30.	Lowe
                                            Enterprises

		31.	Normandy
                                            Real Estate Partners

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

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

		34.	Praedium
                                            Group

		35.	Raith
                                            Capital Partners, LLC

		36.	Rialto
                                            Capital Management, LLC

		37.	Rialto
                                            Capital Advisors LLC

		38.	Rimrock
                                            Capital Management LLC

		39.	Rockpoint
                                            Group

		40.	Rockwood

		41.	RREEF
                                            Funds

		42.	Square
                                            Mile Capital Management

		43.	Starwood
                                            Capital Group/Starwood Financial Trust

		44.	The
                                            Blackstone Group

		45.	The
                                            Carlyle Group

		46.	Torchlight
                                            Investors

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

		48.	Westbrook
                                            Partners

		49.	WestRiver
                                            Capital

		50.	Wheelock
                                            Street Capital

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

 

    	 	C-1

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