Document:

Exhibit 4.3

 

 

EXECUTION VERSION

	 

 

DEUTSCHE MORTGAGE & ASSET RECEIVING
CORPORATION,

Depositor,

 

Wells
Fargo Bank, National Association,

Master Servicer,

 

Pacific
Life Insurance Company,

Special Servicer,

 

Wilmington
Trust, National Association,

Trustee,

 

and

 

DEUTSCHE
BANK TRUST COMPANY AMERICAS,

Certificate Administrator, Paying Agent and Custodian

 

 

 

TRUST
AND SERVICING AGREEMENT

Dated as of August 1, 2016

 

 

 

DBJPM 2016-SFC Mortgage Trust

Commercial Mortgage Pass-Through Certificates

	 

 

     

     

    

 

TABLE OF CONTENTS

 

	 	 	Page
	 	 	 
	ARTICLE I
	 
	DEFINITIONS

	 	 	 
	Section 1.01	Defined Terms	2
	Section 1.02	Certain Calculations	71
	Section 1.03	Certain Constructions	75
	 	 	 
	ARTICLE II
	 	 	 
	CONVEYANCE OF THE MORTGAGE LOAN; ORIGINAL ISSUANCE OF CERTIFICATES
	 	 	 
	Section 2.01	Conveyance of the Trust Loan; Assignment of Trust Loan Purchase Agreements	75
	Section 2.02	Acceptance by Custodian and the Trustee	81
	Section 2.03	Representations, Warranties and Covenants of the Depositor; Repurchase
    of Trust Loan	83
	Section 2.04	Representations, Warranties and Covenants of the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee	91
	Section 2.05	Execution and Delivery of Certificates; Issuance of Lower-Tier Regular Interests	95
	Section 2.06	Miscellaneous REMIC Provisions	96
	 	 	 
	ARTICLE III
	 	 	 
	ADMINISTRATION AND SERVICING OF THE TRUST FUND
	 	 	 
	Section 3.01	The Master Servicer To Act as Master Servicer; Special Servicer To Act as Special Servicer; Administration of the Whole Loan	96
	Section 3.02	Liability of the Master Servicer and the Special Servicer When Sub-Servicing	100
	Section 3.03	Collection of Whole Loan Payments	101
	Section 3.04	Collection of Taxes, Assessments and Similar Items; Escrow Accounts	101
	Section 3.05	Collection Account; Distribution Accounts and Interest Reserve Account	103
	Section 3.06	Permitted Withdrawals from the Collection Account and the Distribution Accounts; Trust Ledger	107
	Section 3.07	Investment of Funds in the Collection Account, the REO Account, the Lock-Box Accounts, the Cash Collateral Accounts and the Reserve Accounts	116

 

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	Section 3.08	Maintenance of Insurance Policies and Errors and Omissions and Fidelity Coverage	118
	Section 3.09	Enforcement of Due-on-Sale Clauses; Assumption Agreements; Defeasance
    Provisions	122
	Section 3.10	Appraisals; Realization upon Defaulted Whole Loan	127
	Section 3.11	Custodian to Cooperate; Release of Mortgage File	133
	Section 3.12	Servicing Fees, Trustee/Certificate Administrator Fees and Special Servicing Compensation	134
	Section 3.13	Reports to the Certificate Administrator; Collection Account Statements	139
	Section 3.14	Access to Certain Documentation	145
	Section 3.15	Title and Management of REO Property and REO Accounts	152
	Section 3.16	Sale of a Specially Serviced Loan or the REO Property	156
	Section 3.17	Additional Obligations of the Master Servicer and the Special
    Servicer; Inspections	161
	Section 3.18	Authenticating Agent	162
	Section 3.19	Appointment of Custodians	163
	Section 3.20	Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts	164
	Section 3.21	Property Advances	164
	Section 3.22	Appointment of Special Servicer	168
	Section 3.23	Transfer of Servicing Between the Master Servicer and the Special Servicer; Record Keeping; Asset Status Report	171
	Section 3.24	Special Instructions for the Master Servicer and/or Special Servicer	176
	Section 3.25	Certain Rights and Obligations of the Master Servicer and/or the Special Servicer	176
	Section 3.26	Modification, Waiver, Amendment and Consents	177
	Section 3.27	[Reserved]	179
	Section 3.28	[Reserved]	179
	Section 3.29	[Reserved]	179
	Section 3.30	No Downgrade Confirmation	179
	Section 3.31	Certain Co-Lender Matters Relating to the Whole Loan	180
	Section 3.32	Delivery of Excluded Information to the Certificate Administrator	184
	 	 	 
	ARTICLE IV
	 	 	 
	DISTRIBUTIONS TO CERTIFICATEHOLDERS
	 	 	 
	Section 4.01	Distributions	184
	Section 4.02	Statements to Certificateholders; Reports by Certificate
    Administrator; Other Information Available to the Holders and Others	189
	Section 4.03	Compliance with Withholding Requirements	200
	Section 4.04	REMIC Compliance	200
	Section 4.05	Imposition of Tax on the Trust Fund	203
	Section 4.06	Remittances	204
	Section 4.07	P&I Advances and Administrative Advances	204
	Section 4.08	Appraisal Reductions; Collateral Deficiency Amounts	209

 

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	ARTICLE V
	 	 	 
	THE CERTIFICATES
	 	 	 
	Section 5.01	The Certificates	210
	Section 5.02	Registration, Transfer and Exchange of Certificates	214
	Section 5.03	Mutilated, Destroyed, Lost or Stolen Certificates	224
	Section 5.04	Appointment of Paying Agent	224
	Section 5.05	Access to Certificateholders’ Names and Addresses; Special Notices	225
	Section 5.06	Actions of Certificateholders	225
	Section 5.07	Rule 144A Information	226
	 	 	 
	ARTICLE VI
	 	 	 
	THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICER AND THE DIRECTING HOLDER
	 	 	 
	Section 6.01	Liability of the Depositor, the Master Servicer and the Special Servicer	226
	Section 6.02	Merger or Consolidation of either the Master Servicer, the Special Servicer or the Depositor	226
	Section 6.03	Limitation on Liability of the Depositor, the Master Servicer and Others	227
	Section 6.04	Limitation on Resignation of the Master Servicer and the Special Servicer; Termination of the Master Servicer and the Special Servicer	228
	Section 6.05	Rights of the Depositor and the Trustee in Respect of the Master Servicer and the Special Servicer	230
	Section 6.06	The Master Servicer or Special Servicer as Owners of a Certificate	231
	Section 6.07	Selection and Removal of the Directing Holder	231
	Section 6.08	Limitation on Liability of Directing Holder; Acknowledgements of the Certificateholders	234
	Section 6.09	Rights and Powers of the Directing Holder	234
	Section 6.10	Directing Holder Contact with Master Servicer and Special Servicer	236
	 	 	 
	ARTICLE VII
	 	 	 
	TERMINATION EVENTS
	 	 	 
	Section 7.01	Servicer Termination Events	236
	Section 7.02	Trustee to Act; Appointment of Successor	245
	Section 7.03	Notification to Certificateholders and Other Persons	246
	Section 7.04	Other Remedies of Trustee	247
	Section 7.05	Waiver of Past Servicer Termination Events; Termination	247
	Section 7.06	Trustee as Maker of Advances	247

 

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	ARTICLE VIII
	 	 	 
	CONCERNING THE TRUSTEE AND CERTIFICATE ADMINISTRATOR	 
	 	 	 
	Section 8.01	Duties of Trustee and Certificate Administrator	248
	Section 8.02	Certain Matters Affecting the Trustee and the Certificate Administrator	251
	Section 8.03	Trustee and Certificate Administrator Not Liable for Certificates or the Trust Loan	253
	Section 8.04	Trustee and Certificate Administrator May Own Certificates	255
	Section 8.05	Payment of Trustee’s and Certificate Administrator’s Fees and Expenses; Indemnification	255
	Section 8.06	Eligibility Requirements for Trustee and Certificate Administrator	258
	Section 8.07	Resignation and Removal of Trustee and Certificate Administrator	259
	Section 8.08	Successor Trustee and Certificate Administrator	261
	Section 8.09	Merger or Consolidation of Trustee or Certificate Administrator	262
	Section 8.10	Appointment of Co-Trustee or Separate Trustee	262
	 	 	 
	ARTICLE IX
	 	 	 
	TERMINATION
	 	 	 
	Section 9.01	Termination	263
	 	 	 
	ARTICLE X
	 	 	 
	 	MISCELLANEOUS PROVISIONS	 
	 	 	 
	Section 10.01	Counterparts	268
	Section 10.02	Limitation on Rights of Certificateholders	268
	Section 10.03	Governing Law	269
	Section 10.04	Waiver of Jury Trial; Consent to Jurisdiction	269
	Section 10.05	Notices	270
	Section 10.06	Severability of Provisions	273
	Section 10.07	Notice to the Depositor and Each Rating Agency	273
	Section 10.08	Amendment	275
	Section 10.09	Confirmation of Intent	278
	Section 10.10	No Intended Third-Party Beneficiaries	279
	Section 10.11	Entire Agreement	279
	Section 10.12	Third Party Beneficiaries	279
	 	 	 
	ARTICLE XI
	 	 	 
	EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE	 
	 	 
	Section 11.01	Intent of the Parties; Reasonableness	280
	Section 11.02	Succession; Sub-Servicers; Subcontractors	281

 

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	Section 11.03	Other Securitization Trust’s Filing Obligations	282
	Section 11.04	Form 10-D Disclosure	282
	Section 11.05	Form 10-K Disclosure	283
	Section 11.06	Form 8-K Disclosure	283
	Section 11.07	Annual Compliance Statements	284
	Section 11.08	Annual Reports on Assessment of Compliance with Servicing Criteria	285
	Section 11.09	Annual Independent Public Accountants’ Servicing Report	287
	Section 11.10	Significant Obligor	288
	Section 11.11	Sarbanes-Oxley Backup Certification	289
	Section 11.12	Indemnification	289
	Section 11.13	Amendments	292
	Section 11.14	Termination of the Certificate Administrator	293
	Section 11.15	Termination of Sub-Servicing Agreements	293
	Section 11.16	Notification Requirements and Deliveries in Connection with Securitization of a Companion Loan	293

 

TABLE OF EXHIBITS

 

	Exhibit A-1	Form of Class A Certificate
	Exhibit A-2	Form of Class X-A Certificate
	Exhibit A-3	Form of Class B Certificate
	Exhibit A-4	Form of Class C Certificate
	Exhibit A-5	Form of Class D Certificate
	Exhibit A-6	Form of Class R Certificate
	Exhibit A-7	Form of Class LR Certificate
	Exhibit B	Mortgage Loan Schedule
	Exhibit C-1	Form of Transferee Affidavit
	Exhibit C-2	Form of Transferor Certificate
	Exhibit D-1	Form of Investment Representation Letter
	Exhibit D-2	Form of ERISA Representation Letter
	Exhibit E	Form of Request for Release
	Exhibit F	Securities Legend
	Exhibit G	Form of Regulation S Transfer Certificate
	Exhibit H	Form of Transfer Certificate for Exchange or Transfer from Rule 144A Global Certificate to Regulation S Global Certificate during the Restricted Period
	Exhibit I	Form of Transfer Certificate for Exchange or Transfer from Rule 144A Global Certificate to Regulation S Global Certificate after the Restricted Period
	Exhibit J	Form of Transfer Certificate for Exchange or Transfer from Regulation S Global Certificate to Rule 144A Global Certificate
	Exhibit K	Form of Distribution Date Statement
	Exhibit L-1A	Form of Investor Certification for Non-Borrower Related Party (for Persons other than the Directing Holder and/or a Controlling Class Certificateholder)

 

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	Exhibit L-1B	Form of Investor Certification for Non-Borrower Related Party (for the Directing Holder and/or a Controlling Class Certificateholder)
	Exhibit L-1C	Form of Investor Certification for Borrower Related Party (for Persons other than the Directing Holder and/or a Controlling Class Certificateholder)
	Exhibit L-1D	Form of Investor Certification for Borrower Related Party (for the Directing Holder and/or a Controlling Class Certificateholder)
	Exhibit L-1E	Form of Notice of Excluded Controlling Class Holder
	Exhibit L-1F	Form of Notice of Excluded Controlling Class Holder to Certificate Administrator
	Exhibit L-1G	Form of Certification of the Directing Holder
	Exhibit L-2	Form of Investor Certification
	Exhibit L-3	Form of Online Vendor Certification
	Exhibit L-4	Form of CREFC® Certification
	Exhibit M	Form of Notification from Custodian
	Exhibit N-1	Form of Closing Date Custodian Certification
	Exhibit N-2	Form of Post-Closing Custodian Certification
	Exhibit O	Form of NRSRO Certification
	Exhibit P-1	Form of Transferor Certificate for Transfer of the Excess Servicing Fee Rights
	Exhibit P-2	Form of Transferee Certificate for Transfer of the Excess Servicing Fee Rights
	Exhibit Q	Form of Power of Attorney to the Master Servicer and Special Servicer
	Exhibit R	[Reserved]
	Exhibit S	Additional Form 10-D Disclosure
	Exhibit T	Additional Form 10-K Disclosure
	Exhibit U	Form 8-K Disclosure Information
	Exhibit V	Additional Disclosure Notification
	Exhibit W	Initial Sub-Servicers
	Exhibit X	Form of Backup Certification
	TABLE OF SCHEDULES
	 
	Schedule I	Servicing Criteria to be Addressed in Assessment of Compliance

 

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Trust and Servicing Agreement,
dated as of August 1, 2016, between Deutsche Mortgage & Asset Receiving Corporation, as Depositor, Wells Fargo Bank, National
Association, as Master Servicer, Pacific Life Insurance Company, as Special Servicer, Wilmington Trust, National Association, as
Trustee, and Deutsche Bank Trust Company Americas, as Certificate Administrator, Paying Agent and Custodian.

 

PRELIMINARY STATEMENT:

 

(Terms used but not defined in this Preliminary
Statement shall have

the meanings specified in Article I hereof)

 

The Depositor intends to sell
pass-through certificates to be issued hereunder in multiple Classes which in the aggregate will evidence the entire beneficial
ownership interest in the Trust Fund consisting primarily of the Trust Loan.

 

The Lower-Tier REMIC will hold
the Trust Loan and certain other related assets subject to this Agreement, and will issue (i) the Lower-Tier Regular Interests
set forth in the table below (the “Lower-Tier Regular Interests”), as classes of “regular interests”
in the Lower-Tier REMIC and (ii) the Class LR Certificates, as the sole class of residual interests in the Lower-Tier REMIC.

 

The Upper-Tier REMIC will hold
the Lower-Tier Regular Interests and certain other related assets subject to this Agreement and will issue (i) the Class A, Class
X-A, Class B, Class C and Class D Certificates as Classes of “regular interests” in the Upper-Tier REMIC and (ii) the
Class R Certificates, as the sole class of residual interests in the Upper-Tier REMIC.

 

The following table sets forth
the Class designation and Certificate Balance or Notional Balance of each Class of Certificates (other than the Class R and Class
LR Certificates) (collectively, the “Corresponding Certificates”) and the corresponding Lower-Tier Regular Interest
(the “Corresponding Lower-Tier Regular Interest”) and Corresponding Component for each Class of Corresponding
Certificates and each Class of Corresponding Lower-Tier Regular Interests.

 

	Corresponding

     Certificates	 	Certificate
    Balance or 
 Notional Balance	 	Corresponding
    

    Lower-Tier 

    Regular Interests	 	Lower-Tier
    Principal 
 Balance	 	Corresponding
    Component
	Class A	 	$	150,000,000	 	 	LA	 	$	150,000,000	 	 	X-A
	Class X-A	 	$	185,000,000	(1)	 	N/A	 	 	          N/A	 	 	Class A and Class B Certificates
	Class B	 	$	35,000,000	 	 	LB	 	$	35,000,000	 	 	N/A
	Class C	 	$	59,629,000	 	 	LC	 	$	59,629,000	 	 	N/A
	Class D	 	$	62,313,000	 	 	LD	 	$	62,313,000	 	 	N/A

 

 

		1)

                                                     

                                                     
	The
                                         Lower-Tier Regular Interest and the Component of the Class X-A Certificates that correspond
                                         to any particular Class of Certificates also correspond to each other and, accordingly,
                                         constitute the (i) “Corresponding Lower-Tier Regular Interest” and
                                         (ii) “Corresponding Component” respectively, with respect to each
                                         other. The Component Notional Balance for such Corresponding Component of the Class X-A
                                         Certificates shall at all times equal the then Lower-Tier Principal Balance of the Corresponding
                                         Lower-Tier Regular Interest.

 

     

     

    

 

The initial Certificate Balance
of each of the Class R and Class LR Certificates is zero. Additionally, the Class R and Class LR Certificates do not have a Notional
Balance. The Certificate Balance of any Class of Certificates outstanding at any time represents the maximum amount which holders
thereof are entitled to receive as distributions allocable to principal from the cash flow on the Trust Loan and the other assets
in the Trust Fund; provided, however, that in the event that amounts previously allocated as Realized Losses to a
Class of Certificates in reduction of the Certificate Balance thereof are subsequently recovered (including, without limitation,
after the reduction of the Certificate Balance of such Class to zero), such Class may receive distributions in respect of such
recoveries in accordance with the priorities set forth in Section 4.01 of this Agreement.

 

As of the Cut-off Date, the Trust
Loan has a Stated Principal Balance equal to approximately $306,942,000.

 

In consideration of the mutual
agreements herein contained, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee
and the other parties hereto hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

Section 1.01Defined Terms.
Whenever used in this Agreement, the following words and phrases, unless the context otherwise requires, shall have the meanings
specified in this Article.

 

“30/360 Basis”:
The accrual of interest calculated on the basis of a 360-day year consisting of twelve 30-day months.

 

“17g-5 Information Provider”:
The Certificate Administrator.

 

“17g-5 Information Provider’s
Website”: The internet website of the 17g-5 Information Provider, initially located at https://tss.sfs.db.com/investpublic,
under the “NRSRO” tab of the respective transaction, access to which is limited to NRSROs who have provided an NRSRO
Certification to the 17g-5 Information Provider.

 

“AB Modified Loan”:
Any Corrected Mortgage Loan (1) that became a Corrected Mortgage Loan due to a modification thereto that resulted in the creation
of an A/B note structure (or similar structure) and as to which the new junior note(s) did not previously exist or the principal
amount of the new junior note(s) was previously part of the original unmodified Trust Loan and (2) as to which an Appraisal Reduction
Amount is not in effect.

 

“Acceptable Insurance
Default”: With respect to the Whole Loan, any Default arising when the Loan Documents require that the Borrower must
maintain standard extended coverage casualty insurance or other insurance that covers acts of terrorism and the Special Servicer
has determined, in accordance with the Servicing Standard, that either (i) such insurance is not available at commercially reasonable
rates and the subject hazards are not at the time commonly insured against by for properties similar to the Mortgaged Property
and located in or

 

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around the geographic region in which the Mortgaged Property is located (but only by reference to such insurance
that has been obtained by such owners at current market rates), or (ii) such insurance is not available at any rate. In making
this determination, the Special Servicer, to the extent consistent with the Servicing Standard, may rely on the opinion of an insurance
consultant (such expense to be advanced as a Property Advance).

 

“Accrued AB Loan Interest”:
With respect to any AB Modified Loan and any Determination Date, accrued and unpaid interest that remains unpaid with respect to
the new junior note(s) of such AB Modified Loan.

 

“Act”: The
Securities Act of 1933, as it may be amended from time to time.

 

“Actual/360 Basis”:
The accrual of interest calculated on the basis of the actual number of days elapsed during any calendar month (or other applicable
accrual period) in a year assumed to consist of 360 days.

 

“Additional Disclosure
Notification”: The form of notification to be included with any Additional Form 10-D Disclosure, Additional Form 10-K
Disclosure or Form 8-K Disclosure Information which is attached to this Agreement as Exhibit V.

 

“Additional Form 10-D
Disclosure”: The information described in the Form 10-D items set forth under the “Item on Form 10-D” column
on Exhibit S hereto.

 

“Additional Form 10-K
Disclosure”: The information described in the Form 10-K items set forth under the “Item on Form 10-K” column
on Exhibit T hereto.

 

“Additional Servicer”:
Each Affiliate of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Trust Loan Sellers
or the Initial Purchasers (other than an Affiliate of any such party acting in the capacity of a Sub-Servicer), that Services the
Trust Loan, and each Person, other than the Special Servicer, who is not an Affiliate of any of the Master Servicer, the Certificate
Administrator, the Trustee, the Trust Loan Sellers or the Underwriters, who Services 10% or more of the Trust Loan (based on its
Stated Principal Balance).

 

“Additional Trust Fund
Expense”: Any extraordinary expense incurred with respect to the Trust Fund (including interest on Advances (to the extent
such amounts cannot be paid from Default Interest or late payment fees on the Whole Loan), Special Servicing Fees, Liquidation
Fees and Workout Fees) and not otherwise treated as a Realized Loss that would result in the Holders of any Class of Regular Certificates
receiving less than the full amount of principal and/or the Interest Distribution Amount to which they are entitled on any Distribution
Date. Expenses incurred as a result of the exercise of the Master Servicer or Special Servicer, as applicable, of any right granted
under the Loan Documents to obtain terrorism insurance in the event that the Borrower (i) is not required to purchase such terrorism
insurance or (ii) is only required to purchase terrorism insurance up to a cap shall be an Additional Trust Fund Expense.

 

“Administrative Advance”:
As defined in Section 4.07(c) of this Agreement.

 

“Advance”:
Any P&I Advance, Property Advance or Administrative Advance.

 

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“Advance Interest Amount”:
Interest at the Advance Rate on the aggregate amount of P&I Advances, Property Advances and Administrative Advances for which
the Master Servicer or the Trustee, as applicable, has not been reimbursed for the number of days from the date on which such Advance
was made to the date of payment or reimbursement of the related Advance or other such amount, less any amount of interest previously
paid on such Advance; provided that if, during any Collection Period in which an Advance was made, the Borrower makes a
payment of an amount in respect of which such Advance was made with interest at the Default Rate or a late payment fee, the Advance
Interest Amount payable to the Master Servicer or the Trustee shall be paid first, from Default Interest and late payment
fees in the manner set forth in Section 9(d) of the Co-Lender Agreement, and then, upon determining in accordance with the
Servicing Standard that such Advance Interest Amount is not recoverable from such amounts from other amounts on deposit in the
Collection Account.

 

“Advance Rate”:
A per annum rate equal to the Prime Rate. Interest at the Advance Rate will accrue from (and including) the date on which
the related Advance is made or the related expense incurred to (but excluding) the date on which such amounts are recovered out
of amounts received on the Trust Loan as to which such Advances were made or servicing expenses incurred or the first Servicer
Remittance Date after a determination of non-recoverability, as the case may be, is made; provided that such interest at
the Advance Rate will continue to accrue to the extent funds are not available in the Collection Account for such reimbursement
of such Advance.

 

“Adverse REMIC Event”:
Any action, that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) cause either Trust REMIC to
fail to qualify as a REMIC or (ii) result in the imposition of a tax upon either Trust REMIC or the Trust Fund (including but not
limited to the tax on “prohibited transactions” as defined in Section 860F(a)(2) of the Code and the tax on contributions
to a REMIC set forth in Section 860G(d) of the Code, but not including the tax on “net income from foreclosure property”).

 

“Affected Reporting
Party”: As defined in Section 11.12 of this Agreement.

 

“Affiliate”:
With respect to any specified Person, any other Person controlling or controlled by or under common control with such specified
Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power
to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
by contract or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the
foregoing. The Trustee and the Certificate Administrator may obtain and rely on an Officer’s Certificate of the Master Servicer,
the Special Servicer or the Depositor to determine whether any Person is an Affiliate of such party.

 

“Affiliated Person”:
Any Person (other than a Rating Agency) involved in the organization or operation of the Depositor or an affiliate, as defined
in Rule 405 of the Act, of such Person.

 

“Agent Member”:
Members of, or Depository Participants in, the Depository.

 

“Agreement”:
This Trust and Servicing Agreement and all amendments hereof and supplements hereto.

 

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“Annual Budget”:
As defined in the Loan Agreement.

 

“Anticipated Final Termination
Date”: Any Distribution Date on which it is anticipated that the Trust Fund will be terminated pursuant to Section
9.01(c) of this Agreement.

 

“Applicable Procedures”:
As defined in Section 5.02(c)(ii)(A) of this Agreement.

 

“Applicable State and
Local Tax Law”: For purposes hereof, the Applicable State and Local Tax Law shall be (a) the tax laws of the State of
New York and (b) such state or local tax laws whose applicability shall have been brought to the attention of the Certificate Administrator
by either (i) an opinion of counsel delivered to it or (ii) written notice from the appropriate taxing authority as to the applicability
of such state or local tax laws.

 

“Appraisal”:
With respect to the Mortgaged Property, an appraisal prepared by an Independent MAI appraiser with at least five years of experience
in appraising properties of like kind, similar size, quality and condition and in the same area.

 

“Appraisal Reduction
Amount”: For any Distribution Date and for the Whole Loan as of which an Appraisal Reduction Event has occurred, an amount
calculated by the Master Servicer as of the first Determination Date that is at least ten (10) business days following the date
the Master Servicer receives from the Special Servicer the required Appraisal (and thereafter by the first Determination Date following
any change in the amounts set forth in the following equation) and receipt of any additional relevant information from the Special
Servicer equal to the excess, if any, of (a) the sum of (without duplication) (i) the Stated Principal Balance of the Whole Loan,
plus (ii) to the extent not previously advanced by the Master Servicer or the Trustee or the Other Master Servicer or the Other
Trustee, all unpaid interest on the Whole Loan at a per annum rate equal to the Whole Loan Rate, plus (iii) all unreimbursed
Property Advances and the principal portion of all unreimbursed P&I Advances, and all unpaid interest on Advances at the Advance
Rate, in respect of the Trust Loan or the Companion Loans, plus (iv) any other unpaid Additional Trust Fund Expenses in respect
of the Whole Loan, plus (v) all currently due and unpaid real estate taxes, ground rents and assessments and insurance premiums
(net of any escrows and reserves therefor) and all other amounts (excluding principal, Default Interest, late charges, penalty
charges, exit fees, Prepayment Charges and any similar amounts) due and unpaid with respect to the Whole Loan (which taxes, premiums
(net of any escrows and reserves therefor) and other amounts that have not been the subject of an Advance by the Master Servicer
or the Trustee, as applicable), over (b) the sum of (without duplication) (i) 90% of the appraised value (net of any prior mortgage
liens) of the Mortgaged Property as determined by an Appraisal obtained by the Special Servicer (the costs of which shall be paid
by the Master Servicer as a Property Advance) minus, solely for purposes of determining the amount by which P&I Advances made
by the Master Servicer or Other Master Servicer with respect to the Trust Loan or the Companion Loans, as applicable, is to be
reduced, any downward adjustments the Special Servicer deems appropriate in accordance with the applicable Servicing Standard (without
implying any duty to do so) based upon its review of the Appraisal and any other information it may deem appropriate, plus (ii)
all escrows, letters of credit and reserves (other than escrows and reserves for taxes, ground rents, assessments and insurance),
plus (iii) all insurance and casualty proceeds and condemnation awards that constitute collateral for the Whole Loan (whether paid
or then payable by any insurance company or government authority); provided that without limiting the Special Servicer’s
obligation to order and obtain such Appraisal, if the Special

 

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Servicer has not obtained an Appraisal or an Updated Appraisal, as
applicable, referred to above within 60 days of the Appraisal Reduction Event (or in the case of an Appraisal Reduction Event occurring
by reason of clause (ii) of the definition thereof, within 30 days of such Appraisal Reduction Event), solely for purposes
of determining the amount by which P&I Advances made by the Master Servicer or Other Master Servicer with respect to the Trust
Loan or the Companion Loans, as applicable, are to be reduced, the Appraisal Reduction Amount shall be deemed to be an amount equal
to 25% of the current Stated Principal Balance of the Whole Loan until such time as such Updated Appraisal referred to above is
received and the Appraisal Reduction Amount is calculated.

 

Notwithstanding anything herein
to the contrary, the aggregate Appraisal Reduction Amount related to the Whole Loan or the REO Property will be reduced to zero
as of the date the Whole Loan is paid in full, liquidated, repurchased or otherwise removed from the Trust Fund. In addition, to
the extent an Appraisal Reduction Event has occurred, the Whole Loan shall no longer be subject to the Appraisal Reduction Amount
if (a) the Whole Loan has become a Corrected Mortgage Loan (if a Servicing Transfer Event had occurred with respect to the Whole
Loan) or (b) an Updated Appraisal is obtained and after giving effect thereto, no Appraisal Reduction Amount exists; provided
that in case of either of clause (a) or (b), no other Appraisal Reduction Event has occurred and is continuing. The
Trust Loan and the Companion Loans shall be treated as a single mortgage loan for purposes of calculating an Appraisal Reduction
Amount with respect to the mortgage loans that comprise such Whole Loan. Any Appraisal Reduction Amount in respect of the Whole
Loan shall be allocated first, to the Junior Notes up to the full outstanding principal balances thereof, pro rata,
and second, to the Senior Notes up to the full outstanding principal balances thereof, pro rata.

 

“Appraisal Reduction
Event”: With respect to the Whole Loan, on the earliest of the following (i) the date on which the Whole Loan becomes
a Modified Mortgage Loan, (ii) the 90th day following the occurrence of any uncured Delinquency in Monthly Payments,
(iii) receipt of notice that the Borrower has filed a bankruptcy petition or the date on which a receiver is appointed and continues
in such capacity in respect of the Mortgaged Property or the 60th day after the Borrower becomes the subject of involuntary
bankruptcy proceedings and such proceedings are not dismissed in respect of the Mortgaged Property, (iv) the date on which the
Mortgaged Property becomes an REO Property and (v) a payment default shall have occurred with respect to the related Balloon Payment;
provided, however, that for purposes of clause (v) above, if (a) the Borrower is diligently seeking a refinancing
commitment (and delivers a statement to that effect to the Master Servicer within 30 days after the default, which shall promptly
deliver a copy to the Special Servicer), (b) the Borrower continues to make its Assumed Scheduled Payment and (c) no other Appraisal
Reduction Event has occurred, then an Appraisal Reduction Event will not occur until 60 days beyond the Maturity Date, unless extended
by the Special Servicer in accordance with the Loan Documents or this Agreement; and provided, further that if the
Borrower has delivered to the Master Servicer, which shall promptly deliver a copy to the Special Servicer, on or before the 60th
day after the Maturity Date, a refinancing commitment reasonably acceptable to the Special Servicer, and the Borrower continues
to make its Assumed Scheduled Payments (and no other Appraisal Reduction Event has occurred with respect to that Whole Loan), an
Appraisal Reduction Event will not occur until the earlier of (1) 120 days beyond the related Maturity Date (or extended Maturity
Date) and (2) the termination of the refinancing commitment. The Special Servicer shall notify the Master

 

    -6-

     

    

 

Servicer promptly upon
the occurrence of any of the foregoing events if the Whole Loan is a Specially Serviced Loan.

 

“Asset Status Report”:
As defined in Section 3.23(e) of this Agreement.

 

“Assignment of Leases
and Rents”: With respect to the Mortgaged Property, any assignment of leases and rents or similar agreement executed
by the Borrower, assigning to the mortgagee all of the income, rents and profits derived from the ownership, operation, leasing
or disposition of all or a portion of the Mortgaged Property, in the form which was duly executed, acknowledged and delivered,
as amended, modified, renewed or extended through the date hereof and from time to time hereafter.

 

“Assignment of Management
Agreement”: As defined in the Loan Agreement.

 

“Assignment of Mortgage”:
An assignment of Mortgage without recourse, notice of transfer or equivalent instrument, in recordable form, which is sufficient
under the laws of the jurisdiction in which the Mortgaged Property is located to reflect of record the sale of the Mortgage.

 

“Assumed Scheduled Payment”:
If the Trust Loan (including any REO Loan) is delinquent in respect of its Balloon Payment, an amount equal to the sum of (a) the
principal portion, if any, of the Monthly Payment that would have been due on the Trust Loan on the related Due Date (or portion
thereof not received), based on the constant payment required by the Trust Note or the amortization or payment schedule thereof
(as calculated with interest at the Trust Loan Rate) (if any), assuming such Balloon Payment had not become due, after giving effect
to any prior modification, and (b) interest at the Trust Loan Rate minus the Servicing Fee Rate.

 

“Assumption Fees”:
Any fees (other than assumption application fees) collected by the Master Servicer or the Special Servicer in connection with an
assumption of the Whole Loan or related substitution of the Borrower (or an interest therein) thereunder (in each case, as permitted
or set forth in the Loan Documents or under the provisions of this Agreement).

 

“Authenticating Agent”:
Any authenticating agent appointed by the Certificate Administrator pursuant to Section 3.18 of this Agreement.

 

“Available Funds”:
For any Distribution Date, with respect to the Trust Loan, the sum of (i) all previously undistributed Monthly Payments or other
receipts on account of principal and interest on or in respect of the Trust Loan (including Unscheduled Payments and Net REO Proceeds,
if any, transferred from an REO Account pursuant to Section 3.15(b) of this Agreement) received by or on behalf of the Master
Servicer in the Collection Period relating to such Distribution Date, (ii) all P&I Advances and Administrative Advances made
by the Master Servicer or the Trustee, as applicable, in respect of the Trust Loan as of such Distribution Date, (iii) all other
amounts received by the Master Servicer in the Collection Period and required to be deposited in the Collection Account by the
Master Servicer pursuant to Section 3.05 of this Agreement, (iv) without duplication, any late Monthly Payments on the Trust
Loan received after the end of the Collection Period relating to such Distribution Date but prior to the close of business on the
Business Day prior to the related Servicer Remittance Date, (v) any Master

 

    -7-

     

    

 

Servicer Prepayment Interest Shortfall Amount remitted
by the Master Servicer to the Collection Account, and (vi) with respect to the Distribution Date in March of each calendar year
(or February if the final Distribution Date occurs in such month), the Withheld Amounts then on deposit in the Interest Reserve
Account by the Certificate Administrator in accordance with Section 3.05 of this Agreement; but excluding (without duplication)
the following (in no order of priority):

 

(a)          all amounts
permitted to be used to reimburse the Master Servicer or the Trustee, as applicable, for previously unreimbursed Advances and interest
thereon as described in Section 3.06 of this Agreement;

 

(b)          the aggregate
amount of the Servicing Fee, the Trustee/Certificate Administrator Fee, the CREFC® License Fee, the Special Servicing
Fee, fees for primary servicing functions, Prepayment Interest Excess (net of any Prepayment Interest Shortfall), Net Default Interest,
late payment fees (to the extent not applied to the reimbursement of Advance Interest Amounts and/or Additional Trust Fund Expenses
as provided in Section 3.06 of this Agreement), Workout Fees, Liquidation Fees, Assumption Fees, Modification Fees, Permitted
Special Servicer/Affiliate Fees, defeasance fees, demand fees, beneficiary statement charges and similar fees on the Trust Loan
payable to the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee, together with interest on
Advances to the extent provided herein, and reinvestment earnings on payments received for the Trust Loan (in the case of all of
the foregoing, which the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee is entitled to retain
as Servicing Compensation, Special Servicing Compensation or other compensation, as applicable), in each case in respect of such
Distribution Date;

 

(c)          all amounts
representing scheduled Monthly Payments on the Trust Loan due after the related Due Date;

 

(d)          that portion
of Net Liquidation Proceeds, Net Insurance Proceeds and Net Condemnation Proceeds with respect to the Trust Loan which represents
any unpaid Servicing Fee, Servicing Compensation, Special Servicing Compensation, Trustee/Certificate Administrator Fee and CREFC®
License Fee, to which the Master Servicer, the Special Servicer, any Sub-Servicer, the Certificate Administrator, the Trustee and
CREFC®, as the case may be, are entitled;

 

(e)          all amounts
representing certain fees and expenses, including indemnity amounts, reimbursable or payable to the Master Servicer, the Special
Servicer, the Certificate Administrator (in all of its capacities under this Agreement), the Custodian or the Trustee and other
amounts permitted to be retained by the Master Servicer or withdrawn by the Master Servicer from the Collection Account to the
extent expressly set forth in this Agreement (including, without limitation, as provided in Section 3.06 of this Agreement
and including any indemnities provided for herein), including interest thereon as expressly provided in this Agreement (to the
extent allocable to the Trust Loan);

 

(f)          any interest
or investment income on funds on deposit in the Collection Account or any interest on Permitted Investments in which such funds
may be invested;

 

    -8-

     

    

 

(g)          all amounts
received with respect to the Trust Loan if previously purchased or repurchased from the Trust Fund pursuant to Section 2.03(e),
Section 3.16 or Section 9.01 of this Agreement or the Trust Loan Purchase Agreements or any mezzanine loan intercreditor
agreement during the related Collection Period and subsequent to the date as of when the Trust Loan was purchased or repurchased;

 

(h)          the amount
reasonably determined by the Certificate Administrator to be necessary to pay any applicable federal, state or local taxes imposed
on the Upper-Tier REMIC or the Lower-Tier REMIC under the circumstances and to the extent described in Section 4.05 of this
Agreement;

 

(i)          Prepayment
Charges; and

 

(j)          with respect
to the Distribution Date occurring in (A) January of each calendar year that is not a leap year and (B) February of each calendar
year, in each case, unless such Distribution Date is the final Distribution Date, the Withheld Amounts deposited into the Interest
Reserve Account by the Certificate Administrator in accordance with Section 3.05(e) of this Agreement.

 

Available Funds will not include
any amounts allocable to the Companion Loans under the Co-Lender Agreement.

 

“Balloon Payment”:
With respect to the Trust Loan or Whole Loan, as applicable, the scheduled payment of principal due on the Maturity Date (less
principal included in the applicable amortization schedule or scheduled Monthly Payment).

 

“Base Interest Fraction”:
With respect to any Principal Prepayment on the Trust Loan and any of the Class A, Class B, Class C and Class D Certificates, a
fraction (not greater than one) (a) the numerator of which is the greater of zero and the amount, if any, by which (i) the Pass-Through
Rate on such Class of Certificates exceeds (ii) the yield rate (as provided by the Master Servicer) used in calculating the Prepayment
Charges with respect to such Principal Prepayment and (b) the denominator of which is the amount, if any, by which (i) the Trust
Loan Rate on the Trust Loan exceeds (ii) the yield rate (as provided by the Master Servicer) used in calculating the Prepayment
Charges with respect to such Principal Prepayment; provided, that if such yield rate is greater than or equal to the Trust Loan
Rate on the Trust Loan, then the Base Interest Fraction shall be zero (0); provided, further, that if such yield rate is greater
than or equal to the Trust Loan Rate on the Trust Loan, but less than the Pass-Through Rate described in the clause (a)(i) above,
then the Base Interest Fraction will be one (1).

 

To the extent that the “yield
rate” referred to in the immediately preceding paragraph to be provided by the Master Servicer is not provided in the related
Loan Documents, such “yield rate” shall be, when compounded monthly, equivalent to the yield, on the U.S. Treasury
primary issue with a maturity date closest to the Maturity Date for the Trust Loan. If there are: (a) two or more U.S. Treasury
issues with the same coupon the issue with the lower yield shall be selected and (b) two or more U.S. Treasury issues with maturity
dates equally close to the Maturity Date for the Trust Loan, the issue with an earlier maturity date shall be selected.

 

    -9-

     

    

 

“Beneficial Owner”:
With respect to a Global Certificate, the Person who is the beneficial owner of such Certificate as reflected on the books of the
Depository or on the books of a Person maintaining an account with such Depository (directly as a Depository Participant or indirectly
through a Depository Participant, in accordance with the rules of such Depository) with respect to such Classes. Each of the Trustee,
the Certificate Administrator and the Master Servicer shall have the right to require, as a condition to acknowledging the status
of any Person as a Beneficial Owner under this Agreement, that such Person executes an Investor Certification.

 

“Book-Entry Certificate”
shall mean any Certificate registered in the name of the Depository or its nominee.

 

“Borrower”:
Collectively, S.F. Centre Limited Partnership, a Delaware limited partnership, and Emporium Mall LLC, a Delaware limited liability
company (or their respective successors in interest under the Loan Agreement).

 

“Borrower Accounts”:
As defined in Section 3.07(a) of this Agreement.

 

“Borrower Related Party”:
Any of (a) the Borrower, the Loan Sponsor, the Manager or a Restricted Holder, (b) any other Person controlling or controlled by
or under common control with the Borrower, Loan Sponsor, Manager or Restricted Holder, as applicable, or (c) any other Person owning,
directly or indirectly, 25% or more of the beneficial interests in the Borrower, Loan Sponsor, Manager or Restricted Holder, as
applicable. For the purposes of this definition, “control” when used with respect to any specified Person means the
power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
by contract or otherwise and the terms “controlling” and “controlled” have meanings correlative to the
foregoing.

 

“Breach”:
As defined in Section 2.03(e) of this Agreement.

 

“Business Day”:
Any day other than (i) a Saturday or a Sunday, (ii) a legal holiday in New York, New York, Pittsburgh, Pennsylvania, Overland Park,
Kansas, Santa Ana, California, Jacksonville, Florida and Wilmington, Delaware (and if Wells Fargo Bank, National Association is
the Master Servicer, Oakland, California and Charlotte, North Carolina), or the principal cities in which the Master Servicer,
the Special Servicer, the Trustee or the Certificate Administrator conduct servicing, trust administration or surveillance operations
or (iii) any day on which the Federal Reserve Bank of New York or banking institutions or savings associations in New York, New
York, Pittsburgh, Pennsylvania, Overland Park, Kansas, Santa Ana, California, Jacksonville, Florida and Wilmington, Delaware (and
if Wells Fargo Bank, National Association is the Master Servicer, Oakland, California and Charlotte, North Carolina), or the principal
cities in which the Master Servicer, the Special Servicer, the Trustee or the Certificate Administrator is located or conducts
servicing, trust administration, certificate transfers or surveillance operations are authorized or obligated by law or executive
order to be closed.

 

“Calculation Rate”:
A discount rate appropriate for the type of cash flows being discounted, namely (i) for principal and interest payment on the Trust
Loan or Whole Loan or sale of a Defaulted Mortgage Loan, the highest of (1) the rate determined by the Master Servicer or Special
Servicer, as applicable, that approximates the market rate that would be obtainable by the Borrower on similar non-defaulted debt
of the Borrower as of such date of determination,

 

    -10-

     

    

 

(2) the Trust Loan Rate or Whole Loan Rate, as applicable, and (3) the yield
on 10-year U.S. treasuries as of such date of determination and (ii) for all other cash flows, including property cash flow, the
“discount rate” set forth in the most recent Appraisal (or Updated Appraisal).

 

“Cash Collateral Account”:
Any account or accounts created pursuant to a Mortgage, Loan Agreement, Cash Collateral Account Agreement or other Loan Document
into which the Lock-Box Account monies are swept on a regular basis for the benefit of the Trustee, on behalf of the Certificateholders
and the Companion Loan Holders, as successor to the Trust Loan Sellers. Any Cash Collateral Account shall be beneficially owned
for federal income tax purposes by the Person who is entitled to receive all reinvestment income or gain thereon in accordance
with the terms and provisions of the Loan Agreement and Section 3.07 of this Agreement, which Person shall be taxed on all
reinvestment income or gain thereon in accordance with the terms of the Loan Agreement. The Master Servicer shall be permitted
to make withdrawals therefrom for deposit into the Collection Account. To the extent not inconsistent with the terms of the related
Loan Documents, the Cash Collateral Account shall be an Eligible Account.

 

“Cash Collateral Account
Agreement”: The cash collateral account agreement between the Originator and the Borrower, pursuant to which the Cash
Collateral Account, if any, may have been established.

 

“Cash Management Agreement”:
As defined in the Loan Agreement.

 

“Certificate”:
Any Class A, Class X-A, Class B, Class C, Class D, Class R or Class LR Certificate issued, authenticated and delivered hereunder.

 

“Certificate Administrator”:
Deutsche Bank Trust Company Americas, a New York banking corporation, in its capacity as Certificate Administrator, or its successor
in interest, or any successor certificate administrator appointed as herein provided.

 

“Certificate Administrator’s
Website”: The internet website of the Certificate Administrator, initially located at https://tss.sfs.db.com/investpublic.

 

“Certificate Balance”:
With respect to any Class of Certificates (other than the Class X-A, Class R and Class LR Certificates) (a) on or prior to the
first Distribution Date, an amount equal to the aggregate initial Certificate Balance of such Class, as specified in the Preliminary
Statement to this Agreement and (b) as of any date of determination after the first Distribution Date, the Certificate Balance
of such Class of Certificates on the Distribution Date immediately prior to such date of determination less any distributions allocable
to principal and any allocations of Realized Losses made thereon on such prior Distribution Date.

 

“Certificate Custodian”:
Initially, the Certificate Administrator; thereafter, any other Certificate Custodian acceptable to the Depository and selected
by the Certificate Administrator.

 

“Certificate Interest
Accrual Period”: With respect to any Class of Regular Certificates and any Distribution Date, the calendar month immediately
preceding the month in which such Distribution Date occurs.

 

    -11-

     

    

 

“Certificate Register”
and “Certificate Registrar”: The register maintained and the registrar appointed pursuant to Section 5.02
of this Agreement.

 

“Certificateholder”:
The Person whose name is registered in the Certificate Register, subject to the following:

 

(a)          except as
provided in clauses (b) and (d), solely for the purpose of giving any consent or taking any action pursuant to this
Agreement, any Certificate beneficially owned by (x) the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee (in its individual capacity) or any Person known to a Responsible Officer of the Certificate Registrar
to be an Affiliate of any of the foregoing parties, (y) a Manager, a Borrower, any Affiliate of a Borrower or any agent of a Borrower
or (z) a Restricted Holder shall be deemed not to be outstanding and the Voting Rights to which it is entitled shall not be taken
into account in determining whether the requisite percentage of Voting Rights necessary to effect any such consent or take any
such action has been obtained;

 

(b)          for purposes
of obtaining the consent of Certificateholders to an amendment of this Agreement, any Certificates beneficially owned by the Master
Servicer or the Special Servicer or an Affiliate thereof shall be deemed to be outstanding for all purposes if such amendment does
not relate to the increase in compensation or material reduction in obligations of the Master Servicer or the Special Servicer
in any material respect, provided that if such amendment does relate to such matters, such Certificates shall be deemed
not to be outstanding with respect to such matters;

 

(c)          for purposes
of obtaining the consent of Certificateholders (other than the Controlling Class Certificateholders or the Directing Holder) to
any action proposed to be taken by the Special Servicer with respect to the Whole Loan, any Certificates beneficially owned by
the Special Servicer or an Affiliate thereof shall be deemed not to be outstanding; and

 

(d)          for purposes
of providing or distributing any reports, statements or other information required or permitted to be provided to a Certificateholder
hereunder, a Certificateholder shall include any Beneficial Owner, or (subject to the execution of an Investor Certification) any
Person identified by a Beneficial Owner as a prospective transferee of a Certificate beneficially owned by such Beneficial Owner,
but only if the Certificate Administrator or another party hereto furnishing such report, statement or information has been provided
with the name of the Beneficial Owner of the related Certificate or the Person identified as a prospective transferee thereof.

 

Notwithstanding anything to the
contrary in this paragraph, the limitations set forth in the foregoing clauses (a), (b), (c) and (d)
will not be construed so as to limit or prevent a Controlling Class Certificateholder or the Directing Holder, solely based on
it being an Affiliate of the Special Servicer, from exercising any appointment, consent, consultation or any other rights (including,
without limitation, Voting Rights) it may have under this Agreement solely in its capacity as Controlling Class Certificateholder
or Directing Holder (unless, for the avoidance of doubt, the Controlling Class Certificateholder or Directing Holder is a Manager,
the Borrower or an Affiliate of a Manager or Borrower, or a Restricted Holder).

 

    -12-

     

    

 

For purposes of the foregoing,
the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Paying Agent or other
such Person may rely, without limitation, on a Depository Participant listing from the Depository or statements furnished by a
Person that on their face appear to be statements from a Depository Participant to such Person indicating that such Person beneficially
owns Certificates.

 

“Certificateholder Quorum”:
In connection with any solicitation of votes in connection with the replacement of the Special Servicer pursuant to Section
3.22(b), the holders of Principal Balance Certificates evidencing at least 66-2⁄3% of the aggregate Voting Rights (taking
into account Realized Losses and the application of any Appraisal Reduction Amounts to notionally reduce the Certificate Balance
of the Certificates) of all Principal Balance Certificates on an aggregate basis.

 

“Certifying Certificateholder”:
A Certificateholder or Beneficial Owner of a Certificate that has provided the Certificate Administrator with an executed Investor
Certification.

 

“Certifying Person”:
As defined in Section 11.11 of this Agreement.

 

“Certifying Servicer”:
As defined in Section 11.07 of this Agreement.

 

“Class”: All
of the Certificates bearing the same alphabetical or alphanumeric Class designation, each separately designated Lower-Tier Regular
Interest.

 

“Class A
Certificate”: Any one of the Certificates with a “Class A” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially
the form of Exhibit A-1 to this Agreement.

 

“Class A Pass-Through
Rate”: A per annum rate equal to 2.8330%.

 

“Class B Certificate”:
Any one of the Certificates with a “Class B” designation on the face thereof, executed and authenticated by the Certificate
Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of Exhibit A-3 to this Agreement.

 

“Class B Pass-Through
Rate”: A per annum rate equal to 3.2370%.

 

“Class C Certificate”:
Any one of the Certificates with a “Class C” designation on the face thereof, executed and authenticated by the Certificate
Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of Exhibit A-4 to this Agreement.

 

“Class C Pass-Through
Rate”: A per annum rate equal to the Net Mortgage Rate for the related Distribution Date.

 

“Class D Certificate”:
Any one of the Certificates with a “Class D” designation on the face thereof, executed and authenticated by the Certificate
Administrator or the

 

    -13-

     

    

 

Authenticating Agent on behalf of the Depositor
in substantially the form of Exhibit A-5 to this Agreement.

 

“Class D Pass-Through
Rate”: A per annum rate equal to the Net Mortgage Rate for the related Distribution Date.

 

“Class Interest Shortfall”:
With respect to any Distribution Date (subsequent to the initial Distribution Date) for any Class of Regular Certificates, the
excess, if any, of (i) the Interest Distribution Amount and any Class Interest Shortfall for such Class of Regular Certificates
for the immediately preceding Distribution Date over (ii) all distributions of interest made on such Class of Regular Certificates
on the immediately preceding Distribution Date. The Class Interest Shortfall for each Class of Regular Certificates for the initial
Distribution Date shall be zero.

 

“Class LA Interest”,
“Class LB Interest”, “Class LC Interest” and “Class LD Interest”: Each,
a regular interest in the Lower-Tier REMIC entitled to monthly distributions payable thereto pursuant to Section 4.01 of
this Agreement.

 

“Class LR Certificate”:
Any one of the Certificates with a “Class LR” designation on the face thereof, executed and authenticated by the Certificate
Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of Exhibit A-7 to this Agreement.
The Class LR Certificates have no Pass-Through Rate, Certificate Balance.

 

“Class R Certificate”:
Any one of the Certificates with a “Class R” designation on the face thereof, executed and authenticated by the Certificate
Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of Exhibit A-6 to this Agreement.
The Class R Certificates have no Pass-Through Rate or Certificate Balance.

 

“Class X-A Certificates”:
Any one of the Certificates with a “Class X-A” designation on the face thereof, executed and authenticated by the Certificate
Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form of Exhibit A-2 to this Agreement.

 

“Class X-A Component”:
Component XA and Component XB.

 

“Class X-A Notional
Balance”: As of any date of determination, the then Component Notional Balance of the Class X-A Components.

 

“Class X-A Pass-Through
Rate”: With respect to any Distribution Date, the Class X Strip Rate at which interest accrues from time to time on the
Class X-A Component outstanding immediately prior to the related Distribution Date. The Class X-A Pass-Through Rate for the initial
Distribution Date is approximately 0.5882% per annum.

 

“Class X Strip Rate”:
For any Class of Certificates for any Distribution Date shall be equal to the excess, if any, of (i) the Net Mortgage Rate for
such Distribution Date over (ii) the Pass-Through Rate of such Class of Certificates.

 

    -14-

     

    

 

“Clearstream”:
Clearstream Banking Luxembourg, a division of Clearstream International, société anonyme.

 

“Closing Date”:
August 4, 2016.

 

“Co-Lender Agreement”:
The co-lender agreement, dated as of July 11, 2016, between Deutsche Bank AG, New York Branch and JPMorgan Chase Bank, National
Association.

 

“Code”: The
Internal Revenue Code of 1986, as amended from time to time, any successor statute thereto, and any temporary or final regulations
of the United States Department of the Treasury promulgated pursuant thereto.

 

“Collateral Deficiency
Amount” With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal
Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (solely
to the extent allocable to the Trust Loan) (x) the most recent appraised value for the Mortgaged Property, plus (y) solely to the
extent not reflected or taken into account in such appraised value and to the extent on deposit with, or otherwise under the control
of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Borrower at
the time the Trust Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the Mortgaged
Property, plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y))
held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator shall
be entitled to conclusively rely on the Master Servicer’s calculation or determination of any Collateral Deficiency Amount.

 

“Collection Account”:
The trust account, accounts, or sub-accounts created and maintained by the Master Servicer pursuant to Section 3.05(a) of
this Agreement, which shall be entitled “Wells Fargo Bank, National Association, as Master Servicer, on behalf of Wilmington
Trust, National Association, as Trustee, in trust for the benefit of the Holders of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage
Pass-Through Certificates, Collection Account” and/or “Wells Fargo Bank, National Association, as Master Servicer,
on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of DBJPM 2016-SFC Mortgage Trust
Commercial Mortgage Pass-Through Certificates, Companion Loan Account” and each of which must be an Eligible Account.

 

“Collection Period”:
With respect to any Distribution Date, the period that begins immediately following the Determination Date in the calendar month
preceding the month in which such Distribution Date occurs (or, in the case of the initial Distribution Date, immediately following
the Cut-off Date) and ending at the close of business on such Determination Date in the calendar month in which the Distribution
Date occurs.

 

“Commission”:
The Securities and Exchange Commission.

 

“Companion Loan(s)”:
That portion of the Whole Loan identified as “Note A-1-EMP-C1”, “Note A-1-SFC-C1”, “Note A-1-EMP-C2”,
“Note A-1-SFC-C2”, “Note A-1-EMP-C3”, “Note A-1-SFC-C3”, “Note A-1-EMP-C4” and
“Note A-1-SFC-C4”, which is owned by

 

    -15-

     

    

 

Deutsche Bank AG, New York Branch, and “Note A-2-EMP-C1”, “Note
A-2-SFC-C1”, “Note A-2-EMP-C2”, “Note A-2-SFC-C2”, “Note A-2-EMP-C3”, “Note A-2-SFC-C3”,
“Note A-2-EMP-C4”, “Note A-2-SFC-C4”, which is owned by JPMorgan Chase Bank, National Association, as of
the date hereof and has an aggregate outstanding principal balance as of the Closing Date of $251,058,000.

 

“Companion Loan Advance”:
With respect to a Companion Loan that is part of an Other Securitization Trust, any advance of delinquent scheduled payments with
respect to such Companion Loan made by the master servicer or trustee with respect to such Other Securitization Trust.

 

“Companion Loan Holder”:
Any holder of a Companion Loan.

 

“Companion Loan Rating
Agency”: With respect to a Companion Loan, any rating agency that was engaged by a participant in the securitization
of such Companion Loan to assign a rating to the related Companion Loan Securities.

 

“Companion Loan Securities”:
Any commercial mortgage-backed securities that evidence an interest in or are secured by the assets of an Other Securitization
Trust, which assets include a Companion Loan (or a portion thereof or interest therein).

 

“Companion Loan Service
Provider”: With respect to any Companion Loan that has been deposited into a securitization trust, the related Other
Trustee, Other Servicer, Other Special Servicer, any sub-servicer and any other Person that makes principal and/or interest advances
in respect of such Companion Loan pursuant to the related Other Pooling and Servicing Agreement.

 

“Component Notional
Balance”: With respect to Component XA and any date of determination, an amount equal to the then Lower-Tier Principal
Balance of its Corresponding Lower-Tier Regular Interest.

 

“Component XA”:
The component of the Class X-A Certificates having a Component Notional Balance equal to the then current Lower-Tier Principal
Balance of Lower-Tier Regular Interest LA.

 

“Component XB”:
The component of the Class X-A Certificates having a Component Notional Balance equal to the then current Lower-Tier Principal
Balance of Lower-Tier Regular Interest LB.

 

“Condemnation Proceeds”:
Any awards resulting from the full or partial condemnation or any eminent domain proceeding or any conveyance in lieu or in anticipation
thereof with respect to the Mortgaged Property by or to any governmental, quasi-governmental authority or private entity with condemnation
powers (other than amounts to be applied to the restoration, preservation or repair of the Mortgaged Property or released to the
Borrower in accordance with the terms of the REMIC Provisions and the Whole Loan).

 

“Controlling Class”:
As of any time of determination, the Class D Certificates so long as such Class has an outstanding Certificate Balance (as reduced
or notionally reduced by

 

    -16-

     

    

 

any principal payments, Realized Losses, Appraisal Reduction Amounts and Collateral Deficiency Amounts
allocable to such Class) that is equal to or greater than 25% of the initial Certificate Balance of such Class or, if such Class
does not meet the preceding requirement, there will be no Controlling Class. The Controlling Class as of the Closing Date will
be the Class D Certificates.

 

“Controlling Class Certificateholder”:
Each Holder (or Beneficial Owner, if applicable) of the Controlling Class of Certificates, as determined by the Certificate Registrar
from time to time in accordance with the terms of Section 6.07(a) of this Agreement.

 

“Corporate Trust Office”:
(a) With respect to the Trustee, the corporate trust office of Wilmington Trust, National Association initially located at 1100
North Market Street, Wilmington, Delaware 19890, Attention: DBJPM 2016-SFC, or the principal trust office of any successor trustee
qualified and appointed pursuant to this Agreement; and (b) with respect to the Certificate Administrator, located at 1761 East
St. Andrew Place, Santa Ana, California 92705-4934, Attention: Trust Administration – DB16SF, or, in the case of any surrender,
transfer or exchange at Deutsche Bank Trust Company Americas, c/o DB Services Americas, Inc., 5022 Gate Parkway, Suite 200, Jacksonville,
Florida 32256, Attention: Transfer Unit, or the principal trust office of any successor certificate administrator qualified and
appointed pursuant to this Agreement.

 

“Corrected Mortgage
Loan”: As defined under the definition of Specially Serviced Loan.

 

“Corresponding Certificates”:
As defined in the Preliminary Statement with respect to any Corresponding Lower-Tier Regular Interest.

 

“Corresponding Component”:
As defined in the Preliminary Statement with respect to any Class of Corresponding Certificates or any Corresponding Lower Tier
Regular Interest.

 

“Corresponding Lower-Tier
Regular Interest”: As defined in the Preliminary Statement with respect to any Class of Corresponding Certificates or
any Corresponding Component.

 

“CREFC®”:
CRE Finance Council, formerly known as Commercial Mortgage Securities Association, or any association or organization that is a
successor thereto. If neither such association nor any successor remains in existence, “CREFC®”
shall be deemed to refer to such other association or organization as may exist whose principal membership consists of servicers,
trustees, certificateholders, issuers, placement agents and underwriters generally involved in the commercial mortgage loan securitization
industry, which is the principal such association or organization in the commercial mortgage loan securitization industry and whose
principal purpose is the establishment of industry standards for reporting transaction-specific information relating to commercial
mortgage pass-through certificates and commercial mortgage-backed bonds and the commercial mortgage loans and foreclosed properties
underlying or backing them to investors holding or owning such certificates or bonds, and any successor to such other association
or organization. If an organization or association described in one of the preceding sentences of this definition does not exist,
“CREFC®” shall be deemed to

 

    -17-

     

    

 

refer to such other association or organization as shall be selected by
the Master Servicer and reasonably acceptable to the Certificate Administrator, the Trustee and the Special Servicer.

 

“CREFC®
Appraisal Reduction Template”: A report substantially in the form of, and containing the information called for in, the
downloadable form of the “Appraisal Reduction Template” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Advance Recovery Report”: A monthly report substantially in the form of, and containing the information called for in,
the downloadable form of the “Advance Recovery Report” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from time
to time be approved by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Bond Level File”: The data file in the “CREFC® Bond Level File” format substantially in the
form of and containing the information called for therein, or such other form for the presentation of such information as may be
approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Collateral Summary File”: The data file in the “CREFC® Collateral Summary File” format substantially
in the form of and containing the information called for therein, or such other form for the presentation of such information as
may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
Comparative Financial Status Report”: The monthly report in “Comparative Financial Status Report” format
substantially in the form of and containing the information called for therein for the Whole Loan, or such other form for the presentation
of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions
generally. In connection with preparing the CREFC® Comparative Financial Status Report, the Master Servicer shall
process (a) interim financial statements beginning with interim financial statements for the fiscal quarter ending March 2017,
and (b) annual financial statements beginning with annual financial statements for the 2016 fiscal year.

 

“CREFC®
Delinquent Loan Status Report”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Delinquent Loan Status Report” available as of the Closing Date on the CREFC®
Website, or no later than 90 days after its adoption, such other form for the presentation of such information and containing such
additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions
generally.

 

“CREFC®
Financial File”: The data file in the “CREFC® Financial File” format substantially in the
form of and containing the information called for therein for the Whole Loan, or such other form for the presentation of such information
as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally. The
initial data for this report shall be provided by the Trust Loan Sellers.

 

    -18-

     

    

  

“CREFC®
Historical Bond/Collateral Realized Loss Reconciliation Template”: A report substantially in the form of, and containing
the information called for in, the downloadable form of the “Historical Bond/Collateral Realized Loss Reconciliation Template”
available and effective from time to time on the CREFC® Website.

 

“CREFC®
Historical Liquidation Loss Template”: A report substantially in the form of, and containing the information called for
in, the downloadable form of the “Historical Liquidation Loss Template” available and effective from time to time on
the CREFC® Website.

 

“CREFC®
Historical Loan Modification and Corrected Mortgage Loan Report”: The monthly report in the “Historical Loan Modification
and Corrected Mortgage Loan Report” format substantially in the form of and containing the information called for therein
for the Whole Loan, or such other form for the presentation of such information as may be approved from time to time by the CREFC®
for commercial mortgage securities transactions generally.

 

“CREFC®
Interest Shortfall Reconciliation Template”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Interest Shortfall Reconciliation Template” available and effective from time
to time on the CREFC® Website.

 

“CREFC®
Investor Reporting Package (CREFC® IRP)”:

 

(a)            The following
seven electronic files: (i) CREFC® Loan Setup File, (ii) CREFC® Loan Periodic Update File, (iii)
CREFC® Property File, (iv) CREFC® Bond Level File, (v) CREFC® Financial File, (vi)
CREFC® Collateral Summary File and (vii) CREFC® Special Servicer Loan File;

 

(b)            The following
eleven supplemental reports: (i) CREFC® Delinquent Loan Status Report, (ii) CREFC® Historical Loan
Modification and Corrected Mortgage Loan Report, (iii) CREFC® REO Status Report, (iv) CREFC® Operating
Statement Analysis Report, (v) CREFC® Comparative Financial Status Report, (vi) CREFC® Servicer Watch
List, (vii) CREFC® Loan Level Reserve/LOC Report, (viii) CREFC® NOI Adjustment Worksheet, (ix) CREFC®
Advance Recovery Report, (x) CREFC® Total Loan Report and (xi) CREFC® Reconciliation of Funds Report;

 

(c)           
the following eight templates: (i) CREFC® Appraisal Reduction Template, (ii) CREFC®
Servicer Realized Loss Template, (iii) CREFC® Reconciliation of Funds Template, (iv) CREFC®
Historical Bond/Collateral Realized Loss Reconciliation Template, (v) CREFC® Historical Liquidation Loss
Template, (vi) CREFC® Interest Shortfall Reconciliation Template, (vii) CREFC® Servicer
Remittance to Trustee Template and (viii) CREFC® Significant Insurance Event Template; and

 

(d)           
such other reports and data files as CREFC® may designate as part of the “CREFC® Investor
Reporting Package (CREFC® IRP)” from time to time generally.

 

“CREFC®
License Agreement”: The License Agreement, in the form set forth on the website of CREFC® on the Closing
Date, relating to the use of the CREFC® trademarks and trade names.

 

    -19-

     

    

  

“CREFC®
License Fee”: With respect to the Trust Loan (including any REO Loan) for any related Interest Accrual Period, the amount
of interest accrued during such related Interest Accrual Period at the CREFC® License Fee Rate (adjusted to a monthly
rate) on the same balance, in the same manner and for the same number of days as interest at the applicable Trust Rate accrued
with respect to such Trust Loan during such related Certificate Interest Accrual Period is computed. Any payments of the CREFC®
License Fee shall be made to “CRE Finance Council” and delivered by wire transfer pursuant to the following instructions
(or such other instructions as may hereafter be furnished by CREFC® to the Master Servicer in writing at least two
(2) Business Days prior to the Servicer Remittance Date):

 

Account Name: Commercial Real Estate Finance
Council (CREFC®)

Bank Name: JPMorgan Chase Bank, National Association

Bank Address: 80 Broadway, New York, NY 10005

Routing Number: 021000021

Account Number: 213597397

 

“CREFC®
License Fee Rate”: 0.0005% per annum.

 

“CREFC®
Loan Level Reserve/LOC Report”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Loan Level Reserve/LOC Report” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Loan Periodic Update File”: The monthly data file substantially in the form of, and containing the information called
for in, the downloadable form of the “CREFC® Loan Periodic Update File” available and effective from
time to time on the CREFC® Website and; provided that each CREFC® Loan Periodic Update File
shall be accompanied by a CREFC® Advance Recovery Report, if such report is required for a particular month, and
all references herein to “CREFC® Loan Periodic Update File” shall be construed accordingly.

 

“CREFC®
Loan Setup File”: The data file substantially in the form of, and containing the information called for in, the downloadable
form of the “CREFC® Loan Setup File” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
NOI Adjustment Worksheet”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “NOI Adjustment Worksheet” available and effective from time to time on the CREFC® Website.

 

“CREFC®
Operating Statement Analysis Report”: A report substantially in the form of, and containing the information called for
in, the downloadable form of the “Operating Statement Analysis Report” available and effective from time to time on
the CREFC® Website.

 

“CREFC®
Property File”: The monthly data file substantially in the form of, and containing the information called for, in the
downloadable form of the “CREFC® Property File” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Reconciliation of Funds Template”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Reconciliation of Funds Template” available and effective from time to time on the CREFC®
Website, or such

 

    -20-

     

    

 

other form for the presentation of such information and containing such additional information as may from time
to time be recommended by the CREFC® for commercial mortgage securities transactions generally.

 

“CREFC®
REO Status Report”: A monthly report substantially in the form of, and containing the information called for in, the
downloadable form of the “REO Status Report” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Servicer Realized Loss Template”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Servicer Realized Loss Template” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Servicer Watch List”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “Servicer Watch List” available and effective from time to time on the CREFC® Website.

 

“CREFC®
Special Servicer Loan File”: The monthly data file substantially in the form of, and containing the information called
for in, the downloadable form of the “Special Servicer Loan File” available and effective from time to time on the
CREFC® Website.

 

“CREFC®
Supplemental Servicer Reports”: The CREFC® Delinquent Loan Status Report, the CREFC® Historical
Loan Modification and Corrected Mortgage Loan Report, the CREFC® REO Status Report, the CREFC® Servicer
Watch List, the CREFC® NOI Adjustment Worksheet, the CREFC® Comparative Financial Status Report,
the CREFC® Operating Statement Analysis Report, the CREFC® Loan Level Reserve/LOC Report, the CREFC®
Advance Recovery Report and the CREFC® Total Loan Report.

 

“CREFC®
Total Loan Report”: The monthly report substantially in the form of, and containing the information called for in, the
downloadable form of the “Total Loan Report” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Website”: The CREFC®’s Website located at “www.crefc.org” or such other primary website
as the CREFC® may establish for dissemination of its report forms.

 

“Current Interest Distribution
Amount”: With respect to any Distribution Date for any Class of Regular Certificates is equal to the related Regular
Interest Distribution Amount.

 

“Custodial Agreement”:
The Custodial Agreement, if any, from time to time in effect between the Custodian named therein and the Certificate Administrator,
in the form agreed to by the Certificate Administrator and the Custodian, as the same may be amended or modified from time to time
in accordance with the terms thereof. No Custodian Agreement will be required if the Custodian is the same party as the Certificate
Administrator.

 

“Custodian”:
Any Custodian appointed pursuant to Section 3.19 of this Agreement. If a Custodian is not so appointed, then the Custodian
shall be the Certificate Administrator. The Custodian may (but need not) be the Certificate Administrator, the Trustee or the Master
Servicer or any Affiliate of the Certificate Administrator, the Trustee or the Master Servicer.

 

    -21-

     

    

 

 

“Cut-off Date”:
August 1, 2016.

 

“DBRS”: DBRS,
Inc., or any successor thereto. If neither DBRS nor any successor remains in existence, “DBRS” shall be deemed to refer
to such other nationally recognized statistical rating agency or other comparable Person designated by the Depositor, notice of
which designation shall be given to the other parties hereto and specific ratings of DBRS herein referenced shall be deemed to
refer to the equivalent ratings of the party so designated.

 

“Debt Service Coverage
Ratio”: As of any date of determination and for any period, the ratio calculated by dividing the net operating income
or net cash flow, as applicable, of the Mortgaged Property, for the most recently ended 12-month trailing or one-year period for
which data is available from the Borrower (or year-to-date until such time that data for the trailing 12-month period is available),
before payment of any scheduled payments of principal and interest on the Trust Loan or Whole Loan, as applicable, but after funding
of required reserves and “normalized” information from the CREFC® NOI Adjustment Worksheet for the Mortgaged
Property by the Master Servicer or Special Servicer, if applicable, pursuant to Section 3.13 of this Agreement, by the annual
debt service required by the Trust Loan or Whole Loan, as applicable. Annual debt service shall be calculated by multiplying the
Monthly Payment in effect on such date of determination by 12 (or such fewer number of months for which related information is
available).

 

“Default”:
An event of default under the Loan Documents, or an event which, with the passage of time or the giving of notice, or both, would
constitute an event of default under the Loan Documents.

 

“Default Interest”:
Interest accrued on the Trust Loan or the Whole Loan, as applicable, at the excess of (i) the Default Rate over (ii) the Trust
Loan Rate or the Whole Loan Rate, as applicable.

 

“Default Rate”:
The per annum rate at which interest accrues on the Trust Loan or the Whole Loan, as applicable, following any event of
default thereunder, including a default in the payment of a Monthly Payment or a Balloon Payment.

 

“Defaulted Mortgage
Loan”: The Whole Loan, if it is delinquent at least 60 days in respect of its Monthly Payments or more than 60 days delinquent
in respect of its Balloon Payment, if any, in either case such Delinquency to be determined without giving effect to any grace
period permitted by the Loan Documents and without regard to any acceleration of payments under the Whole Loan.

 

“Defect”:
As defined in Section 2.03(e) of this Agreement.

 

“Deficient Exchange
Act Deliverable”: With respect to the Master Servicer, the Special Servicer, the Custodian, the Certificate Administrator,
the Trustee and each Servicing Function Participant retained by it (other than a Sub-Servicer), any item (x) regarding such party,
(y) prepared by such party or any registered public accounting firm, attorney or other agent retained by such party to prepare
such item and (z) delivered by or on behalf of such party pursuant to the delivery requirements under Article XI of this
Agreement that does not conform

 

    -22-

     

    

 

to the applicable reporting requirements under the Securities Act, the Exchange Act, the Sarbanes-Oxley
Act and the rules and regulations promulgated thereunder.

 

“Delinquency”:
Any failure of the Borrower to make a scheduled Monthly Payment or Balloon Payment on a Due Date.

 

“Denomination”:
As defined in Section 5.01(a) of this Agreement.

 

“Depositor”: Deutsche
Mortgage & Asset Receiving Corporation, a Delaware corporation, and its successors and assigns.

 

“Depository”:
The Depository Trust Company or a successor appointed by the Certificate Registrar (which appointment shall be at the direction
of the Depositor if the Depositor is legally able to do so).

 

“Depository Participant”:
A Person for whom, from time to time, the Depository effects book-entry transfers and pledges of securities deposited with the
Depository.

 

“Determination Date”:
With respect to each calendar month commencing in September 2016, the 6th day of such calendar month or, if such 6th day is not
a Business Day, then the immediately succeeding Business Day.

 

“Directing Holder”:
The Controlling Class Certificateholder (or other representative) selected or designated, as applicable, in accordance with Section
6.07.

 

“Directly Operate”:
If the Mortgaged Property becomes an REO Property, the furnishing or rendering of services to the tenants thereof that are not
customarily provided to tenants in connection with the rental of space for occupancy only within the meaning of Treasury Regulations
Section 1.512(b)-1(c)(5), the management or operation of the REO Property, the holding of the REO Property primarily for sale to
customers in the ordinary course of a trade or business, or any use of the REO Property in a trade or business conducted by the
Trust Fund, or the performance of any construction work on the REO Property other than through an Independent Contractor; provided,
however, that the Special Servicer, on behalf of the Trust Fund, shall not be considered to Directly Operate the REO Property
solely because the Special Servicer, on behalf of the Trust Fund, establishes rental terms, chooses tenants, enters into or renews
leases, deals with taxes and insurance, or makes decisions as to repairs or capital expenditures with respect to the REO Property
or takes other actions consistent with Treasury Regulations Section l.856-4(b)(5)(ii).

 

“Disclosable Special
Servicer Fees”: With respect to the Whole Loan or any REO Property, any compensation and other remuneration (including,
without limitation, in the form of commissions, brokerage fees, rebates, and as a result of any other fee-sharing arrangement)
received or retained by the Special Servicer or any of its Affiliates that is paid by any Person (including, without limitation,
the Trust, the Borrower, any Manager, any guarantor or indemnitor in respect of the Whole Loan and any purchaser of the Whole Loan
or the REO Property) in connection with the disposition, workout or foreclosure of the Whole Loan, the management or disposition
of the REO Property, and the performance by the Special Servicer or any such Affiliate of any other special servicing duties under
this Agreement; provided that any

 

    -23-

     

    

 

compensation and other remuneration that the Master Servicer or the Certificate Administrator
is permitted to receive or retain pursuant to the terms of this Agreement in connection with its respective duties in such capacity
as master servicer or certificate administrator under this Agreement shall not be Disclosable Special Servicer Fees.

 

“Disclosure Parties”:
As defined in Section 3.14(e) of this Agreement.

 

“Disqualified Non-U.S.
Person”: With respect to a Class R or Class LR Certificate any Non-U.S. Person or agent thereof other than (a) a Non-U.S.
Person that holds the Class R or Class LR Certificate in connection with the conduct of a trade or business within the United States
and has furnished the transferor and the Certificate Registrar with an effective IRS Form W-8ECI (or applicable successor Form
promulgated by the IRS for the purpose of providing and certifying the information provided on Form W-8ECI as of the Closing Date)
or (b) a Non-U.S. Person that has delivered to both the transferor and the Certificate Registrar an opinion of a nationally recognized
tax counsel to the effect that the transfer of the Class R or Class LR Certificate to it is in accordance with the requirements
of the Code and the regulations promulgated thereunder and that such transfer of the Class R or Class LR Certificate will not be
disregarded for federal income tax purposes.

 

“Disqualified Organization”:
Any of (a) the United States, a State or any political subdivision thereof or any agency or instrumentality of any of the foregoing
(other than an instrumentality that is a corporation if all of its activities are subject to tax and, except for FHLMC, a majority
of its board of directors is not selected by any such governmental unit), (b) a foreign government, International Organization
(as defined below) or agency or instrumentality of either of the foregoing, (c) an organization that is exempt from tax imposed
by Code Chapter 1 (including the tax imposed by Section 511 of the Code on unrelated business taxable income) on any excess inclusions
(as defined in Section 860E(c)(1) of the Code) with respect to the Class R or Class LR Certificates (except certain farmers’
cooperatives described in Section 521 of the Code), (d) rural electric and telephone cooperatives described in Section 1381(a)(2)(C)
of the Code, or (e) any other Person so designated by the Certificate Registrar who is unable to provide an Opinion of Counsel
to the Certificate Registrar to the effect that any Transfer to such Person will not cause either Trust REMIC to be subject to
tax or to fail to qualify as a REMIC at any time that the Certificates are outstanding. For the purposes of this definition, the
terms “United States”, “State” and “International Organization” shall have the meanings set
forth in Section 7701 of the Code or successor provisions.

 

“Distribution Accounts”:
Collectively, the Upper-Tier Distribution Account and the Lower-Tier Distribution Account, each of which may be a sub-account of
a single Eligible Account.

 

“Distribution Date”:
During each calendar month commencing in September 2016, the fourth Business Day following the Determination Date in such calendar
month.

 

“Distribution Date Statement”:
As defined in Section 4.02(a) of this Agreement.

 

“Do Not Hire List”:
The list, as may be updated at any time, provided by the Depositor to the Master Servicer, Special Servicer, the Certificate Administrator
and Trustee, which lists certain parties identified by the Depositor as having failed to comply (after any

 

    -24-

     

    

 

applicable cure period)
with their respective obligations under Article XI of this Agreement or as having failed to comply (after any applicable
cure period) with any similar Regulation AB reporting requirements under any trust and servicing agreement relating to any other
series of certificates offered by the Depositor.

 

“Due Date”:
With respect to (i) the Whole Loan on or prior to its Maturity Date, the day of the month set forth in the Note on which each Monthly
Payment thereon is scheduled to be first due and (ii) the Whole Loan after the Maturity Date therefore or any REO Loan, the day
of the month set forth in the Note on which each Monthly Payment on the Whole Loan had been scheduled to be first due.

 

“Early Termination Notice
Date”: Any date as of which the Stated Principal Balance of the Trust Loan is less than 1.0% of the Stated Principal
Balance of the Trust Loan as of the Cut-off Date.

 

“Eligible Account”:
Any of:

 

(i)            an account
or accounts

 

(A)     maintained
with a depository institution or trust company, (1) the short-term unsecured debt obligations or commercial paper of which are
rated at least “A-1” by S&P (or “A-2” by S&P so long as the long-term unsecured debt obligations
of such depository institution or trust company are rated at least “BBB” by S&P) (and, for purposes of Section
3.05(a), “P-1” by Moody’s) in the case of accounts in which funds are held for 30 days or less, or (2) the
long-term unsecured debt obligations of which are rated at least “BBB+” by S&P (and, for purposes of Section
3.05(a), “A2” by Moody’s) in the case of accounts in which funds are held for more than 30 days,

 

(B)      maintained
with Wells Fargo Bank, National Association, a wholly owned subsidiary of Wells Fargo & Co., so long as its long-term unsecured
debt rating is at least “BBB+” by S&P (and, for purposes of Section 3.05(a), “A2” by Moody’s)
if the deposits are to be held in the account for more than 30 days) or such subsidiary’s short term deposit or short term
unsecured debt rating is at least “A-1” by S&P (or “A-2” by S&P so long as the long-term unsecured
debt obligations of such depository institution or trust company are rated no less than “BBB” by S&P) (and, for
purposes of Section 3.05(a), “P-1” by Moody’s) if the deposits are to be held in the account for 30 days
or less),

 

(C)      maintained
with Deutsche Bank Trust Company Americas, so long as it meets the eligibility standards of the Certificate Administrator pursuant
to Section 8.06, or

 

(ii)           a segregated
trust account or accounts maintained with the trust department of a federal or state chartered depository institution, financial
institution or trust company (which, subject to the remainder of this clause (ii),

 

    -25-

     

    

 

may include the Certificate Administrator or
the Trustee) acting in its fiduciary capacity which, in either case, has a combined capital and surplus of at least $50,000,000
and is subject to supervision or examination by federal or state authority and to regulations regarding fiduciary funds on deposit
substantially similar to Title 12 of the Code of Federal Regulations, Section 9.10(b) and the long term unsecured debt obligations
of which are rated at least “A2” by Moody’s,

 

(iii)    such other
account or accounts that, but for the failure to satisfy one or more of the minimum rating(s) set forth in the applicable clause,
would be listed in clauses (i)-(ii) above, with respect to which a No Downgrade Confirmation has been obtained from (i) each Rating
Agency (and, for purposes of Section 3.05(a), Moody’s) for which the minimum ratings set forth in the applicable clause
is not satisfied with respect to such account and (ii) KBRA, or

 

(iv)    any other
account for which the Certificate Administrator, the Trustee, the Master Servicer or the Special Servicer, as applicable, receives
a No Downgrade Confirmation, which may be an account maintained by or with the Certificate Administrator, the Trustee, the Master
Servicer or the Special Servicer.

 

Eligible Accounts
may bear interest.

 

“Eligible Investor”:
Any of (i) a Qualified Institutional Buyer that is purchasing for its own account or for the account of a Qualified Institutional
Buyer to whom notice is given that the offer, sale or transfer is being made in reliance on Rule 144A or (ii) (except with respect
to the Class R and Class LR Certificates) an Institutional Accredited Investor that is not a Qualified Institutional Buyer.

 

“Environmental Insurance
Policy”: With respect to the Mortgaged Property or REO Property, any insurance policy covering pollution conditions and/or
other environmental conditions that is maintained from time to time in respect of the Mortgaged Property or REO Property, as the
case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders and the Companion Loan Holders.

 

“Environmental Report”:
The environmental audit report or reports with respect to the Mortgaged Property delivered to the Trust Loan Sellers.

 

“ERISA”: The
Employee Retirement Income Security Act of 1974, as it may be amended from time to time.

 

“Escrow Account”:
As defined in Section 3.04(b) of this Agreement. Any Escrow Account may be a sub-account of the related Cash Collateral
Account.

 

“Escrow Payment”:
Any payment made by the Borrower to the Master Servicer pursuant to the Mortgage, Cash Collateral Account Agreement, Lock-Box Agreement,
Loan Agreement or other Loan Document for the account of the Borrower for application toward the payment of taxes, insurance premiums,
assessments, environmental remediation and similar

 

    -26-

     

    

 

items in respect of the Mortgaged Property or related to the satisfaction of
closing conditions for the Whole Loan.

 

“Euroclear”:
Euroclear Bank, as operator of the Euroclear System and its successors in interest.

 

“Excess Prepayment Interest
Shortfall”: With respect to any Distribution Date, any portion of the aggregate Prepayment Interest Shortfalls for such
Distribution Date in excess of the sum of (i) the Master Servicer Prepayment Interest Shortfall Amount with respect to such Distribution
Date and (ii) any Prepayment Interest Excess with respect to such Distribution Date.

 

“Excess Servicing Fee
Rate”: With respect to the Trust Loan and the Companion Loans (and the successor REO Loan, if applicable), a rate per
annum equal to 0 %; provided that such rate shall be subject to reduction at any time following any resignation of a
Master Servicer pursuant to Section 6.04 of this Agreement (if no successor is appointed in accordance with Section 6.04
of this Agreement) or any termination of the Master Servicer pursuant to Section 7.01 of this Agreement, to the extent reasonably
necessary (in the sole discretion of the Trustee) for the Trustee to appoint a qualified successor Master Servicer (which successor
may include the Trustee) that meets the requirements of Section 7.02 of this Agreement.

 

“Excess Servicing Fee
Right”: With respect to the Trust Loan and the Companion Loans (and the successor REO Loan, if applicable), the right
to receive Excess Servicing Fees. In the absence of any transfer of the Excess Servicing Fee Right, the Master Servicer shall be
the owner of such Excess Servicing Fee Right.

 

“Excess Servicing Fees”:
With respect to the Trust Loan and the Companion Loans (and the successor REO Loan, if applicable), that portion of the Servicing
Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.

 

“Exchange Act”:
The Securities Exchange Act of 1934, as amended and the rules and regulations thereunder.

 

“Excluded Controlling
Class Holder”: The Directing Holder or any Controlling Class Certificateholder, as applicable, that is a Borrower Related
Party. Immediately upon obtaining actual knowledge of any such party becoming an “Excluded Controlling Class Holder”,
the Directing Holder or Controlling Class Certificateholder, as applicable, shall provide notice in the form of Exhibit L-1E
hereto to the Master Servicer, the Special Servicer, the Trustee and the Certificate Administrator, which such notice shall be
physically delivered in accordance with Section 10.05 of this Agreement and shall specifically identify the Excluded Controlling
Class Holder. Additionally, any Excluded Controlling Class Holder shall also send to the Certificate Administrator a notice substantially
in the form of Exhibit L-1F hereto, which such notice shall provide each of the User ID’s for the Certificate Administrator’s
Website associated with such Excluded Controlling Class Holder, and which such notice shall direct the Certificate Administrator
to restrict such Excluded Controlling Class Holder’s access to the Certificate Administrator’s Website as provided
in this Agreement. As of the Closing Date, the Directing Holder is not an Excluded Controlling Class Holder.

 

    -27-

     

    

 

“Excluded Information”:
Any information and reports including, without limitation, any Asset Status Reports, Final Asset Status Reports or summaries thereof,
or any appraisals, inspection reports (conducted by the Special Servicer in the event that the Trust Loan becomes a Specially
Serviced Mortgage Loan), recoverability officer’s certificates, any determination of the Special Servicer’s net present
value calculation, any appraisal reduction amount calculations, environmental assessments, seismic reports and property condition
reports and such other information and reports designated as Excluded Information by the Master Servicer and the Special Servicer,
as the case may be. For the avoidance of doubt, any file or report contained in the CREFC® Investor Reporting
Package (CREFC® IRP) (other than the CREFC® Special Servicer Loan File) shall not be considered
“Excluded Information”. Each of the Master Servicer and the Special Servicer shall deliver any Excluded Information
to the Certificate Administrator in accordance with Section 3.32 hereof. For the avoidance of doubt, the Certificate Administrator’s
obligation to segregate any information delivered to it under the “Excluded Information” tab on the Certificate Administrator’s
Website shall be triggered solely by such information being delivered in the manner provided in Section 3.32 hereof.

 

“FDIC”: The
Federal Deposit Insurance Corporation or any successor thereto.

 

“FHLMC”: The
Federal Home Loan Mortgage Corporation, or any successor thereto.

 

“Final Asset Status
Report”: With respect to any Specially Serviced Mortgage Loan, an Asset Status Report, together with such other data
or supporting information provided by the Special Servicer to the Directing Holder, which does not include any communications (other
than the related Asset Status Report) between the Special Servicer and the Directing Holder; provided that no Asset Status
Report shall be considered a Final Asset Status Report unless (i) the Directing Holder (during any Subordinate Control Period)
has either finally approved of and consented to the actions proposed to be taken in connection therewith, or has exhausted all
of its rights of approval or consent pursuant to this Agreement in respect of such action, or has been deemed to approve or consent
to such action or (ii) the Asset Status Report is otherwise implemented by the Special Servicer in accordance with the terms of
this Agreement.

 

“Final Recovery Determination”:
With respect to the Whole Loan or REO Loan, including after it becomes subject to repurchase by the Trust Loan Sellers pursuant
to Section 2.03(e) of this Agreement or subject to purchase pursuant to any related mezzanine intercreditor agreement, the
recovery of all Insurance Proceeds, Liquidation Proceeds, the related Repurchase Price and other payments or recoveries (including
proceeds of the final sale of the REO Property) which the Master Servicer (or if the Whole Loan becomes a Specially Serviced Loan
or an REO Loan, the Special Servicer), in its reasonable judgment, as evidenced by a certificate of a Servicing Officer delivered
to the Trustee, the Certificate Administrator and the Custodian (and the Master Servicer, if the certificate is from the Special
Servicer), expects to be finally recoverable. The Master Servicer shall maintain records, prepared by a Servicing Officer, of each
Final Recovery Determination until the earlier of (i) its termination as the Master Servicer hereunder and the transfer of such
records to a successor servicer and (ii) five years following the termination of the Trust Fund.

  

    -28-

     

    

 

“Financial Market Publisher”:
BlackRock Financial Management, Bloomberg, L.P., Trepp, LLC, Intex Solutions, Inc., Interactive Data Corporation, Markit LLC and
Thomson Reuters Corporation, or any successor entities thereof.

 

“Fitch”: Fitch
Ratings, Inc., or any of its successors in interest.

 

“Form 8-K Disclosure”
The information described in the Form 8-K items set forth under the “Item on Form 8-K” column on Exhibit S hereto.

 

“FNMA”: The
Federal National Mortgage Association or any successor thereto.

 

“GACC”: German
American Capital Corporation, in its capacity as the Trust Loan Seller, and its successors in interest.

 

“GACC Indemnification
Agreement”: The agreement dated as of the Pricing Date, among GACC, the Depositor and the Initial Purchasers.

 

“GACC Trust Loan Purchase
Agreement”: The Trust Loan Purchase Agreement dated and effective as of the Pricing Date, between GACC and the Depositor.

 

“Global Certificates”:
Each of the Regulation S Global Certificates or Rule 144A Global Certificates if and so long as such class of Certificates is registered
in the name of a nominee of the Depository.

 

“Hazardous Materials”:
Any dangerous, toxic or hazardous pollutants, chemicals, wastes, or substances, including, without limitation, those so identified
pursuant to the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. Section 9601 et seq., or
any other environmental laws now existing, and specifically including, without limitation, asbestos and asbestos-containing materials,
polychlorinated biphenyls (“PCBs”), radon gas, petroleum and petroleum products, urea formaldehyde and any substances
classified as being “in inventory,” “usable work in process” or similar classification which would, if
classified as unusable, be included in the foregoing definition.

 

“Holder”:
With respect to any Certificate, a Certificateholder; with respect to any Lower-Tier Regular Interest, the Trustee.

 

“Indemnified Party”:
As defined in Section 8.05(d), Section 8.05(g) or Section 8.05(h), as applicable, of this Agreement, as the
context requires.

 

“Indemnifying Party”:
As defined in Section 8.05(d), Section 8.05(g) or Section 8.05(h), as applicable, of this Agreement, as the
context requires.

 

“Independent”:
When used with respect to any specified Person, any such Person who (i) does not have any direct financial interest, or any material
indirect financial interest, in any of the Depositor, the Trustee, the Certificate Administrator, the Master Servicer, the Special
Servicer, the Directing Holder, the Borrower or the Manager or any Affiliate thereof, and (ii) is not connected with any such Person
thereof as an officer, employee, promoter, underwriter, trustee, partner, director or Person performing similar functions.

 

    -29-

     

    

  

“Independent Contractor”:
Either (i) any Person that would be an “independent contractor” with respect to the applicable Trust REMIC within the
meaning of Section 856(d)(3) of the Code if such Trust REMIC were a real estate investment trust (except that the ownership tests
set forth in that section shall be considered to be met by any Person that owns, directly or indirectly, 35% or more of any Class
or 35% or more of the aggregate value of all Classes of Certificates); provided that such Trust REMIC does not receive or
derive any income from such Person and the relationship between such Person and such Trust REMIC is at arm’s length, all
within the meaning of Treasury Regulations Section 1.856-4(b)(5) (except neither the Master Servicer nor the Special Servicer shall
be considered to be an Independent Contractor under the definition in this clause (i) unless an Opinion of Counsel (at the
expense of the party seeking to be deemed an Independent Contractor) addressed to the Master Servicer or the Special Servicer,
as applicable, the Certificate Administrator and the Trustee has been delivered to the Certificate Administrator to that effect)
or (ii) any other Person (including the Master Servicer and the Special Servicer) if the Master Servicer or the Special Servicer,
as applicable, on behalf of itself, the Certificate Administrator and the Trustee has received an Opinion of Counsel (at the expense
of the party seeking to be deemed an Independent Contractor) to the effect that the taking of any action in respect of the REO
Property by such Person, subject to any conditions therein specified, that is otherwise herein contemplated to be taken by an Independent
Contractor will not cause the REO Property to cease to qualify as “foreclosure property” within the meaning of Section
860G(a)(8) of the Code (determined without regard to the exception applicable for purposes of Section 860D(a) of the Code) or cause
any income realized in respect of the REO Property to fail to qualify as Rents from Real Property (provided that such income
would otherwise so qualify).

 

“Individual Certificate”:
Any Certificate in definitive, fully registered physical form without interest coupons.

 

“Initial Purchasers”:
Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC and their respective successors in interest.

 

“Initial Resolution
Period”: As defined in Section 2.03(e) of this Agreement.

 

“Inquiries”:
As defined in Section 4.02(c) of this Agreement.

 

“Institutional Accredited
Investor”: An institution that is an “accredited investor” within the meaning of Rule 501(a)(l), (2), (3)
or (7) under the Act or any entity in which all of the equity owners come within such paragraphs.

 

“Insurance Proceeds”:
Proceeds of any fire and hazard insurance policy, title policy or other insurance policy relating to the Whole Loan (including
any amounts paid by the Master Servicer pursuant to Section 3.08 of this Agreement).

 

“Interest Distribution
Amount”: With respect to any Distribution Date and any Class of Regular Certificates, an amount equal to the Current
Interest Distribution Amount for such Class and such Distribution Date, less any excess Prepayment Interest Shortfall allocable
to such Class.

 

    -30-

     

    

  

“Interest Reserve Account”:
The segregated non-interest bearing trust account or sub-account created and maintained by the Certificate Administrator pursuant
to Section 3.05(e) of this Agreement; which shall be entitled “Deutsche Bank Trust Company Americas, as Certificate Administrator,
for the benefit of Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of DBJPM 2016-SFC Mortgage
Trust Commercial Mortgage Pass-Through Certificates, Interest Reserve Account” and which must be an Eligible Account or a
sub-account of an Eligible Account. The Interest Reserve Account shall be an asset of the Lower-Tier REMIC.

 

“Interested Person”:
As of any date of determination, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee,
the Directing Holder (or any of their respective Affiliates), any Certificateholder, the Borrower, any Manager, any Independent
Contractor engaged by the Special Servicer pursuant to Section 3.15 of this Agreement, or any Person known to a Responsible
Officer of the Trustee or the Certificate Administrator, or to a Servicing Officer of the Special Servicer, to be an Affiliate
of any of them.

 

“Investment Account”:
As defined in Section 3.07(a) of this Agreement.

 

“Investment Representation
Letter”: As defined in Section 5.02(c)(i)(A) of this Agreement.

 

“Investor Certification”:
A certificate (which may be in electronic form or “click-through format”) representing that such Person executing the
certificate is a Certificateholder, a Beneficial Owner or a prospective purchaser of a Certificate and that (i) for purposes of
obtaining certain information and notices (including access to information and notices on the Certificate Administrator’s
Website) pursuant to this Agreement, such Person (a) is not a Borrower Related Party or (b) is a Borrower Related Party, substantially
in the form of Exhibit L-1A or Exhibit L-1B (in the case of clause (a)) or Exhibit L-1C or Exhibit L-1D
(in the case of clause (b)) to this Agreement or in the form of an electronic certification contained on the Certificate Administrator’s
Website and/or (ii) for purposes of exercising Voting Rights, such Person is not the Depositor, the Certificate Administrator,
the Trustee or a Borrower Related Party, substantially in the form of Exhibit L-2 to this Agreement or in the form of an
electronic certification contained on the Certificate Administrator’s Website. The Certificate Administrator may require
that Investor Certifications are resubmitted from time to time in accordance with its policies and procedures.

 

“Investor Q&A Forum”:
As defined in Section 4.02(c) of this Agreement.

 

“Investor Registry”:
As defined in Section 4.02(d) of this Agreement.

 

“IRS”: The
Internal Revenue Service.

 

“JPMCB”: JPMorgan
Chase Bank, National Association, in its capacity as a Trust Loan Seller, and its successors in interest.

 

“JPMCB Indemnification
Agreement”: The indemnification agreement dated as of the Pricing Date, among JPMCB, the Depositor and the Initial Purchasers.

 

    -31-

     

    

  

“JPMCB Trust Loan Purchase
Agreement”: The Trust Loan Purchase Agreement dated and effective the Pricing Date, between JPMCB and the Depositor.

 

“Junior Notes”:
Note B-1-EMP, Note B-1-SFC, Note B-2-EMP and Note B-2-SFC in the original aggregate principal amount of $124,923,000.00.

 

“KBRA”: Kroll
Bond Rating Agency, Inc., or any of its successors in interest. If neither such rating agency nor any successor remains in existence,
“KBRA” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person
reasonably designated by the Depositor, notice of which designation shall be given to the other parties hereto, and specific ratings
of KBRA herein referenced shall be deemed to refer to the equivalent ratings of the party so designated

 

“Late Collections”:
With respect to the Whole Loan, all amounts received thereon during any Collection Period (or within the related grace period),
whether as payments, Insurance Proceeds, Condemnation Proceeds, Liquidation Proceeds or otherwise, which represent late payments
or collections of principal or interest due in respect of the Whole Loan (without regard to any acceleration of amounts due thereunder
by reason of default) on a Due Date in a previous Collection Period and not previously recovered. If the Whole Loan becomes an
REO Loan, all amounts received in connection with the REO Property during any Collection Period (including any grace period applicable
under the original Whole Loan), whether as Insurance Proceeds, Condemnation Proceeds, Liquidation Proceeds, REO Proceeds or otherwise,
which represent late collections of principal or interest due or deemed due in respect of the REO Loan or the predecessor Whole
Loan (without regard to any acceleration of amounts due under the predecessor Whole Loan by reason of default) on a Due Date in
a previous Collection Period and not previously recovered. The term “Late Collections” shall specifically exclude Penalty
Charges.

 

“Liquidation Expenses”:
All customary, reasonable and necessary “out of pocket” costs and expenses incurred by the Master Servicer, the Special
Servicer, the Certificate Administrator and the Trustee in connection with the liquidation of the Whole Loan or the liquidation
of the REO Property or the sale of the Whole Loan pursuant to Section 3.16 or Section 9.01 of this Agreement (including,
without limitation, legal fees and expenses, committee or referee fees, and, if applicable, brokerage commissions, and conveyance
taxes).

 

“Liquidation Fee”:
A fee payable to the Special Servicer pursuant to Section 3.12(c) of this Agreement with respect to the Whole Loan (if repurchased
in accordance with Section 2.03(e) of this Agreement), Specially Serviced Loan or REO Loan (except as specified in the following
paragraph), in each case as to which the Special Servicer obtains a full, partial or discounted payoff from the Borrower, a loan
purchaser or the Trust Loan Sellers, as applicable, or any Liquidation Proceeds with respect thereto (in any case, other than amounts
for which a Workout Fee has been paid, or will be payable), equal to the product of 0.50% and the proceeds of such full, partial
or discounted payoff or the Net Liquidation Proceeds related to such liquidated or repurchased Whole Loan or Specially Serviced
Loan, as the case may be, in each case exclusive of any portion of such full, partial or discounted payoff or Net Liquidation Proceeds
that represents Penalty Charges; provided that with respect to any particular liquidation (or partial liquidation), as reduced
by the amount of any and all related Offsetting Modification

 

    -32-

     

    

 

Fees received by the Special Servicer as additional servicing compensation
relating to the Specially Serviced Loan, REO Loan or Whole Loan.

 

No Liquidation Fee shall be payable:

 

(a) with respect to clause
(v) of the definition of Liquidation Proceeds;

 

(b) in the case of clause
(vi) of the definition of Liquidation Proceeds if exercised within 90 days after the first time that such holder’s option
to purchase the Whole Loan becomes exercisable, provided, however, that even if the purchase occurs before such expiration
the Liquidation Fee will be payable to the extent paid by, and collected from, the related borrower or the mezzanine lender;

 

(c) in the case of a final disposition
consisting of the repurchase of the Trust Loan (or the REO Loan, if applicable) by the Trust Loan Sellers pursuant to the Trust
Loan Purchase Agreements, if the Trust Loan Sellers repurchase the Trust Loan within the resolution time period set forth in Section
2.03(e) of this Agreement (and giving effect to any applicable extension period beyond the end of the Initial Resolution Period
set forth in Section 2.03(e) of this Agreement);

 

(d) in connection with the purchase
of the Trust Loan if it has become a Defaulted Mortgage Loan by the Special Servicer or any Affiliate thereof within 90 days after
the transfer of the Defaulted Mortgage Loan to special servicing;

 

(e) in connection with any indemnification
payment made by the Trust Loan Sellers as a result of a Material Breach or Material Document Defect pursuant to Section 2.03(e),
if the Trust Loan Sellers make such indemnification payment within the resolution time period set forth in Section 2.03(e)
of this Agreement (and giving effect to any applicable extension period beyond the end of the Initial Resolution Period set forth
in Section 2.03(e) of this Agreement);

 

(f) if the Whole Loan becomes
a Specially Serviced Loan only because of an event described in clause (a) of the definition of “Specially Serviced Loan”
and the related Liquidation Proceeds are received within three months following the related maturity date as a result of the related
Whole Loan being refinanced or otherwise repaid in full (provided that the Special Servicer may collect from the Borrower
and retain (x) a liquidation fee, (y) such other fees as are provided for in the Loan Documents, and (z) other appropriate fees
in connection with such liquidation); and

 

(g) with respect to any Companion
Loan that is contributed to an Other Securitization Trust, in connection with (A) a repurchase or replacement of such Companion
Loan by the applicable Trust Loan Seller due to a breach of a representation or warranty or a document defect under the related
mortgage loan purchase agreement related to the Other Pooling and Servicing Agreement prior to the expiration of the cure period
(including any applicable extension thereof) set forth therein or (B) a purchase of such Companion Loan pursuant to a clean-up
call or similar liquidation under the related Other Pooling and Servicing Agreement.

 

    -33-

     

    

 

“Liquidation
Proceeds”: Cash amounts (other than Insurance Proceeds and Condemnation Proceeds and REO Proceeds) received by or paid
to the Master Servicer or the Special Servicer in connection with: (i) the liquidation of the Mortgaged Property or other collateral
constituting security for the Defaulted Mortgage Loan, through trustee’s sale, foreclosure sale, disposition of REO Property
or otherwise, exclusive of any portion thereof required to be released to the Borrower in accordance with applicable law and the
terms and conditions of the Note and the Mortgage; (ii) the realization upon any deficiency judgment obtained against the Borrower;
(iii) the sale of the Defaulted Mortgage Loan; (iv) a repurchase of the Trust Loan (or REO Loan) by the Trust Loan Sellers pursuant
to the Trust Loan Purchase Agreements; (v) the purchase of the Trust Loan and all property acquired in respect of the Trust Loan
by the Sole Certificateholder, the Special Servicer or the Master Servicer pursuant to Section 9.01 of this Agreement; (vi)
if applicable, in connection with any existing mezzanine indebtedness or any mezzanine indebtedness that may exist on a future
date, the purchase of the Whole Loan by a mezzanine lender; or (vii) the purchase of the Trust Loan by any related Companion Loan
Holder(s).

“Loan Agreement”:
The Loan Agreement, dated as of July 11, 2016, by and between the Borrower, as borrower, and Deutsche Bank AG, New York Branch
and JPMorgan Chase Bank, National Association, collectively, as lender.

“Loan Documents”:
The documents executed or delivered in connection with the origination or any subsequent modification of the Whole Loan or subsequently
added to the Mortgage File.

“Loan Sponsor”:
(i) Westfield America Limited Partnership, (ii) Westfield America, Inc., one or more of Westfield America Trust, WFD Trust and
Westfield Corporation Limited, (iv) Westfield U.S. Holdings, LLC, (v) Urban Shopping Centers, L.P., an Illinois limited partnership,
provided one or more of the entities set forth in (i) through (iv) above are entitled to receive at least eighty-five percent (85%)
of all of the distributions from Urban Shopping Centers, L.P. relating to the Mortgaged Property and one or more of the entities
set forth in (i) through (iv) above control Urban Shopping Centers, L.P. with respect to the Mortgages Property or (vi) any or
any one or more persons resulting from the reorganization or restructuring of one or more persons referenced in this definition,
in each case together with their successors, and any private equity fund or other investment vehicle provided any such entity is
owned and controlled by one or more of the foregoing entities.

“Lock-Box
Account”: With respect to the Mortgaged Property, if applicable, any account created pursuant to the Loan Documents to
receive revenues therefrom. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who
is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the Whole Loan and
Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon. The Master Servicer
shall be permitted to make withdrawals therefrom for deposit into the related Cash Collateral Accounts in accordance with the terms
of the Whole Loan.

“Lock-Box
Agreement”: The lock-box agreement, if any, between the Originator and the Borrower, pursuant to which the Lock-Box Account,
if any, may have been established.

    -34-

     

    

 “Lower-Tier
Distribution Account”: The segregated non-interest bearing trust account or sub-account created and maintained by the
Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which shall be entitled “Deutsche Bank Trust
Company Americas, as Certificate Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, for the
benefit of the Holders of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates, Lower-Tier Distribution
Account” and which must be an Eligible Account or a sub-account of an Eligible Account. The Lower-Tier Distribution Account
shall be an asset of the Lower-Tier REMIC.

“Lower-Tier
Distribution Amount”: As defined in Section 4.01 of this Agreement.

“Lower-Tier
Principal Balance”: With respect to any Class of Lower-Tier Regular Interest, initially will equal the original principal
balance set forth in the Preliminary Statement herein, and from time to time will equal such amount reduced by the amount of distributions
of the Lower-Tier Distribution Amount allocable to principal and Realized Losses allocable thereto in all prior periods as described
in Section 4.01(d) of this Agreement, such that at all times the Lower-Tier Principal Balance of a Lower-Tier Regular Interest
shall equal the Certificate Balance of its Corresponding Certificates.

“Lower-Tier
Regular Interests”: The Class LA Interest, the Class LB Interest, the Class LC Interest and the Class LD Interest issued
by the Lower-Tier REMIC and held by the Trustee as assets of the Upper-Tier REMIC. Each Lower-Tier Regular Interest (i) is designated
as a “regular interest” in the Lower-Tier REMIC (ii) relates to its Corresponding Class of Certificates, (iii) is uncertificated,
(iv) has an initial Lower-Tier Principal Balance equal to the original Lower-Tier Principal Balance set forth in the Preliminary
Statement herein, (v) has a Pass-Through Rate equal to the Net Mortgage Rate, (vi) has a “latest possible maturity date”,
within the meaning of Treasury Regulations Section 1.860G-1(a), that is the Rated Final Distribution Date and (vii) is entitled
to the distributions in the amounts and at the times specified in Section 4.01(e) of this Agreement.

“Lower-Tier
REMIC”: A segregated asset pool within the Trust Fund consisting of the Trust Loan, collections thereon, the Trust’s
interest in any REO Property acquired in respect thereof, amounts related thereto held from time to time in the Collection Account
and the Lower-Tier Distribution Account, any REO Account, related amounts in the Interest Reserve Account and all other property
included in the Trust Fund that is not in the Upper-Tier REMIC.

“MAI”:
Member of the Appraisal Institute.

“Major Decision”:
Any of the following:

(a)          any
substitution or release of real property collateral for the Whole Loan (other than substitutions or releases of immaterial and
non-income producing real property collateral) except as expressly permitted by the Loan Documents;

(b)          any
waiver of or determination not to enforce a “due-on-sale” or “due-on-encumbrance” clause (unless such clause
is not exercisable under applicable law or such exercise is reasonably likely to result in successful legal action by the Borrower);

    -35-

     

    

(c)          any
transfer of the Mortgaged Property or any portion of the Mortgaged Property, or any transfer of any direct or indirect ownership
interest in the Borrower to the extent lender consent under the Loan Documents is required, except in each case as expressly permitted
by the Loan Documents, or in connection with a pending or threatened condemnation;

(d)          any
consent to incurrence of additional debt by the Borrower or mezzanine debt by a direct or indirect parent of the Borrower, including
modification of the terms of any document evidencing or securing any such additional debt and of any intercreditor or subordination
agreement executed in connection therewith and any waiver of or amendment or modification to the terms of any such document or
agreement, in each case to the extent lender approval is required by the Loan Documents;

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

(f)          any
modification, consent to a modification or waiver of any monetary term (other than late fees and Default Interest but including,
without limitation, the timing of payments and the acceptance of discounted payoffs) or material non-monetary term of the Whole
Loan or any extension of the maturity date of the Whole Loan, to the extent lender approval is required by the Loan Documents;

(g)          following
a default or an event of default with respect to the Whole Loan, any exercise of remedies, including the acceleration of the Whole
Loan or initiation of judicial, bankruptcy or similar proceedings under the related Loan Documents or with respect to the Borrower
or the Mortgaged Property;

(h)          any
sale or other disposition of the Whole Loan or the Mortgaged Property (including any REO Property) for less than the Repurchase
Price;

(i)          any
determination to bring the Mortgaged Property or REO Property into compliance with applicable environmental laws or to otherwise
address Hazardous Materials located at the Mortgaged Property or at a REO Property;

(j)          any
modification, waiver or amendment of an intercreditor agreement, co-lender agreement, participation agreement or similar agreement
with any mezzanine lender, holder of the Companion Loan or subordinate debt holder related to the Whole Loan, or an action to enforce
rights with respect thereto, in each case in a manner that materially and adversely affects the Controlling Class (to the extent
that neither the Directing Holder, the majority holder of the Controlling Class, nor any affiliate or agent thereof is a holder
of the applicable mezzanine loan or any beneficial interest in such mezzanine loan);

(k)         any
Manager changes with respect to the Whole Loan, to the extent lender approval is required by the Loan Documents;

    -36-

     

    

(l)          releases
of any escrow accounts, reserve accounts or letters of credit held as performance escrows or reserves, other than those required
pursuant to the specific terms of the Whole Loan and for which there is no material lender discretion;

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

(n)        any
determination of an Acceptable Insurance Default under the Loan Documents;

(o)        the
execution, termination or renewal of any lease, to the extent lender approval is required under the Loan Documents and to the extent
such lease constitutes a “major lease” as defined in the Loan Agreement, including entering into any subordination,
non-disturbance and attornment agreement;

(p)        any
adoption or implementation of the Annual Budget;

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

(r)         the
exercise of the rights and powers granted under any intercreditor agreement to the “Senior Lender” or such other similar
term as may be set forth in any such intercreditor agreement and/or the “Servicer” referred to therein, if and to the
extent such rights or powers affect the priority, payments, consent rights, or security interest with respect to the “Senior
Lender” or such other similar term (to the extent that neither the Directing Holder, the majority holder of the Controlling
Class, nor any affiliate or agent thereof is a holder of the applicable mezzanine loan or any beneficial interest in such mezzanine
loan).

“Majority
Controlling Class Certificateholders”: The Holder(s) of Certificates representing more than 50% of the aggregate Certificate
Balance of the Controlling Class.

“Management
Agreement”: With respect to the Mortgaged Property, the property management agreement, if any, by and between a Manager
and the Borrower, or any successor property management agreement between such parties.

“Manager”:
With respect to the Mortgaged Property, any property manager for the Mortgaged Property.

“Master Servicer”:
Wells Fargo Bank, National Association, a national banking association, its successor in interest (in such capacity), or if any
successor Master Servicer is appointed as herein provided, such successor Master Servicer or any successor master servicer appointed
as herein provided.

“Master Servicer
Prepayment Interest Shortfall Amount”: As defined in Section 3.17(c) of this Agreement.

    -37-

     

    

“Master
Servicer Termination Event”: As defined in Section 7.01(a) of this Agreement.

“Master Servicer’s
Website”: Shall mean the internet website maintained by the Master Servicer; initially located at “www.wellsfargo.com/com/comintro”.

“Material
Breach”: As defined in Section 2.03(e) of this Agreement.

“Material
Document Defect”: As defined in Section 2.03(e) of this Agreement.

“Maturity
Date”: The maturity date on August 1, 2026.

“Modification
Fees”: With respect to the Whole Loan, any and all fees with respect to a modification, restructure, extension, waiver
or amendment that modifies, restructures, extends, amends or waives any term of the Loan Documents (as evidenced by a signed writing)
agreed to by the Master Servicer or the Special Servicer (other than all defeasance fees, Assumption Fees, consent fees, assumption
application fees, and fees similar to the foregoing). For the avoidance of doubt, Special Servicing Fees, Workout Fees and Liquidation
Fees due to the Special Servicer in connection with a modification, restructure, extension, waiver or amendment shall not be considered
Modification Fees. For each modification, restructure, extension, waiver or amendment in connection with working out the Whole
Loan after it has become a Specially Serviced Loan, the Modification Fees collected from the Borrower shall be subject to a cap
of 1.0% of the outstanding principal balance of the Whole Loan on the closing date of the related modification, restructure, extension,
waiver or amendment (prior to giving effect to such modification, restructure, extension, waiver or amendment); provided
that no aggregate cap exists in connection with the amount of Modification Fees which may be collected from the Borrower with respect
to a Specially Serviced Loan or REO Loan.

“Modified
Mortgage Loan”: A Specially Serviced Loan which has been modified by the Special Servicer pursuant to Section 3.26
of this Agreement in a manner that:

(a)          reduces
or delays the amount or timing of any payment of principal or interest due thereon (other than, or in addition to, bringing current
Monthly Payments with respect to the Trust Loan or Companion Loans), including any reduction in the Monthly Payment;

(b)          except
as expressly contemplated by the Mortgage, results in a release of the lien of the Mortgage on any material portion of the Mortgaged
Property without a corresponding Principal Prepayment in an amount not less than the fair market value (as is), as determined by
an Appraisal delivered to the Special Servicer (at the expense of the Borrower and upon which the Special Servicer may conclusively
rely), of the property to be released; or

(c)          in
the reasonable good faith judgment of the Special Servicer, otherwise materially impairs the value of the security for the Whole
Loan or reduces the likelihood of timely payment of amounts due thereon.

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“Monthly
Payment”: With respect to the Trust Loan or Whole Loan (in each case, other than an REO Loan), and any Due Date, the
scheduled monthly payment of principal, if any, and interest at the Whole Loan Rate, excluding any Balloon Payment (but not excluding
any constant Monthly Payment due on the Whole Loan), which is payable by the Borrower on the Due Date under the Note. The Monthly
Payment with respect to an REO Loan is the monthly payment that would otherwise have been payable on the Due Date had the Note
not been discharged, determined as set forth in the preceding sentence and on the assumption that all other amounts, if any, due
thereunder are paid when due.

“Moody’s”:
Moody’s Investors Service, Inc., or any of its successors in interest.

“Mortgage”:
The mortgage, deed of trust or other instrument creating a first lien on or first priority ownership interest in the Mortgaged
Property securing the Notes.

“Mortgage
File”: Collectively, the mortgage documents listed in Section 2.01(a)(i) through Section 2.01(a)(xxi) of
this Agreement pertaining to the Whole Loan and any additional documents required to be added to the Mortgage File pursuant to
the express provisions of this Agreement; provided that whenever the term “Mortgage File” is used to refer to
documents actually received by the Depositor or the Custodian, such term shall not be deemed to include such documents and instruments
required to be included therein unless they are actually so received.

“Mortgage
Loan Schedule”: The schedule attached as Exhibit B to this Agreement, which schedule shall set forth the following
information:

(a)          the
Trust Loan name;

(b)          the
street address (including city, state and zip code) of the Mortgaged Property;

(c)          the
Trust Loan Rate and Whole Loan Rate in effect as of the Cut-off Date;

(d)          the
original Whole Loan principal balance and the original Trust Loan principal balance;

(e)          the
Stated Principal Balance of the Trust Loan as of the Cut-off Date;

(f)      
    the Maturity Date for the Whole Loan;

(g)          the
Due Date;

(h)          the
amount of the Monthly Payment due on the first Due Date following the Cut-off Date;

(i)          the
Master Servicing Fee Rate, the Primary Servicing Fee Rate, the Trustee/Administrator Fee Rate, CREFC® Fee
Rate and the Administrative Fee Rate; and

(j)          whether
any letter of credit is held by the lender as a beneficiary or is assigned as security for the Whole Loan.

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“Mortgaged
Property”: The underlying property securing the Whole Loan including any REO Property, secured by, among other things,
a first lien mortgage on the Borrower’s fee simple and leasehold interest in a super-regional mall consisting of approximately
788,494 square feet and located at 845 Market Street in San Francisco, California, together with any personal property, fixtures,
leases and other property or rights pertaining thereto.

“Net Condemnation
Proceeds”: Condemnation Proceeds, to the extent such proceeds are not to be applied to the restoration, preservation
or repair of the related Mortgaged Property or released to the Borrower in accordance with the express requirements of the Loan
Documents or other documents included in the Mortgage File or in accordance with the Servicing Standard.

“Net Default
Interest”: With respect to any Distribution Date, an amount equal to the sum of (i) the amount of Default Interest received
during the preceding Collection Period, minus (ii) any portions thereof withdrawn from the applicable Collection Account pursuant
to Section 3.06(a)(vi) of this Agreement for Advance Interest Amounts and unreimbursed Additional Trust Fund Expenses (including
Special Servicing Fees, Liquidation Fees and Workout Fees) incurred on the Trust Loan or Whole Loan, as applicable, during or prior
to such Collection Period.

“Net Insurance
Proceeds”: Insurance Proceeds, to the extent such proceeds are not to be applied to the restoration of the Mortgaged
Property or released to the Borrower in accordance with the express requirements of the Loan Documents or other documents included
in the Mortgage File or in accordance with prudent and customary servicing practices.

“Net Liquidation
Proceeds”: The Liquidation Proceeds received with respect to the Whole Loan net of the amount of Liquidation Expenses
incurred with respect thereto.

“Net Mortgage
Rate”: With respect to any Distribution Date, the rate at which interest accrues on the Trust Loan (net of the Servicing
Fee Rate, the Trustee/Certificate Administrator Fee Rate and the CREFC® License Fee Rate) and excluding Default
Interest during the related Certificate Interest Accrual Period. Notwithstanding the foregoing, the Net Mortgage Rate of such Trust
Loan or Companion Loan for any Interest Accrual Period will be the annualized rate at which interest would have to accrue in respect
of such Trust Loan or Companion Loan on a 30/360 Basis in order to produce the aggregate amount of interest actually accrued in
respect of such Trust Loan or Companion Loan at the related Net Mortgage Rate during such Interest Accrual Period; provided,
that with respect to each such Trust Loan, the Net Mortgage Rate for the one-month period (i) preceding the Distribution Dates
in (a) January and February in each year that is not a leap year or (b) February only in each year that is a leap year (in either
case, unless the related Distribution Date is the final Distribution Date) (commencing in 2017), shall be determined net of any
Withheld Amounts from that month and (ii) preceding the Due Date in March (or February if the related Distribution Date is the
final Distribution Date), shall be determined inclusive of the Withheld Amounts, if applicable, from the immediately preceding
February, and, if applicable, January; provided further, that for purposes of calculating Pass-Through Rates, the Net Mortgage
Rate shall be determined without regard to any modification, waiver or amendment of the terms of the Whole Loan, whether agreed
to by

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the Master Servicer or the Special Servicer or resulting from a bankruptcy, insolvency or similar proceeding involving the
Borrower or otherwise.

“Net REO
Proceeds”: With respect to the REO Property, REO Proceeds with respect to the REO Property net of any insurance premiums,
taxes, assessments and other costs and expenses permitted to be paid therefrom pursuant to Section 3.15(b) of this Agreement.

“New Lease”:
Any lease of an REO Property entered into on behalf of the Lower-Tier REMIC, if such Trust REMIC has the right to renegotiate the
terms of such lease, including any lease renewed or extended on behalf of such Trust REMIC.

“No Downgrade
Confirmation” shall mean, with respect to any matter, confirmation in writing (which may be in electronic form and may
be in the form of a press release) by each applicable Rating Agency that a proposed action, failure to act or other event so specified
will not, in and of itself, result in the downgrade, withdrawal or qualification of the then-current rating assigned to any Class
of Certificates if then rated by the Rating Agency; provided that a written waiver or other acknowledgment from any Rating
Agency indicating its decision not to review the matter for which the No Downgrade Confirmation is sought shall be deemed to satisfy
the requirement for the No Downgrade Confirmation from such Rating Agency with respect to such matter. At any time during which
no Certificates are rated by a Rating Agency, no No Downgrade Confirmation shall be required from that Rating Agency. With respect
to any matter affecting a Companion Loan (if Companion Loan Securities exist), any No Downgrade Confirmation shall also refer to
the nationally recognized statistical rating organizations then rating the securities representing an interest in such loan and
such rating organizations’ respective ratings of such securities.

“Non-Directing
Holder”: With respect to any Companion Loan, a “Non-Controlling Note Holder” or any analogous concept under
the Co-Lender Agreement.

“Non-Reduced
Certificates”: As of any date of determination, any Class of Principal Balance Certificates then outstanding for which
(a)(1) the initial Certificate Balance of such Class of Certificates minus (2) the sum (without duplication) of (x) the aggregate
payments of principal (whether as principal prepayments or otherwise) previously distributed to the Holders of such Class of Certificates
as of such date of determination, (y) any Appraisal Reduction Amounts then allocable to such Class of Certificates as of such date
of determination and (z) any Realized Losses previously allocated to such Class of Certificates as of such date of determination,
is equal to or greater than (b) 25% of the remainder of (i) the initial Certificate Balance of such Class of Certificates less
(ii) any payments of principal (whether as principal prepayments or otherwise) previously distributed to the Holders of that Class
of Certificates as of such date of determination.

“Non-U.S.
Person”: A person that is not a U.S. Person.

“Nonrecoverable
Administrative Advance”: Any Administrative Advance previously made or proposed to be made in respect of the Trust Loan
or REO Loan which, in the reasonable judgment of the Master Servicer, the Special Servicer, in each case in accordance with the
Servicing Standard and Section 4.07(d), or the Trustee in its reasonable judgment, as applicable, would not be ultimately
recoverable, together with any accrued and unpaid interest

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thereon, from late payments, Condemnation Proceeds, Insurance Proceeds,
Liquidation Proceeds and other collections on or in respect of the Trust Loan or REO Loan, which shall be evidenced by an Officer’s
Certificate as provided by Section 4.07(d) of this Agreement.

“Nonrecoverable
Advance”: Any Nonrecoverable P&I Advance, Nonrecoverable Property Advance or Nonrecoverable Administrative Advance.

“Nonrecoverable
P&I Advance”: Any P&I Advance previously made or proposed to be made in respect of the Trust Loan or REO Loan
which, in the reasonable judgment of the Master Servicer, the Special Servicer, in each case in accordance with the Servicing Standard
and Section 4.07(d) and Section 4.07(e), or the Trustee in its reasonable judgment, as applicable, would not be ultimately
recoverable, together with any accrued and unpaid interest thereon, from late payments, Condemnation Proceeds, Insurance Proceeds,
Liquidation Proceeds and other collections on or in respect of the Trust Loan or REO Loan, which shall be evidenced by an Officer’s
Certificate as provided by Section 4.07(d) of this Agreement.

“Nonrecoverable
Property Advance”: Any Property Advance previously made or proposed to be made in respect of the Whole Loan or REO Loan
that, as determined by the Master Servicer, the Special Servicer, in each case in accordance with the Servicing Standard and Section
3.21(d), or the Trustee in its reasonable judgment, as applicable, would not be ultimately recoverable, together with any accrued
and unpaid interest thereon, from late payments, Condemnation Proceeds, Insurance Proceeds, Liquidation Proceeds and other collections
on or in respect of the Whole Loan or REO Loan, which shall be evidenced by an officer certificate as provided by Section 3.21(d)
of this Agreement.

“Note”:
Collectively, as of any date of determination, the notes or other evidence of indebtedness and/or agreements evidencing the indebtedness
of the Borrower under the Whole Loan including any amendments or modifications, or any renewal or substitution note, as of such
date.

“Notice of
Termination”: Any of the notices given to the Trustee, the Certificate Administrator, the Special Servicer and the Master
Servicer by the Special Servicer, the Master Servicer or the Certificateholder owning a majority of the Percentage Interest in
the Class R and Class LR Certificates, as applicable, pursuant to Section 9.01(c) of this Agreement.

“Notional
Balance”: As of any date of determination, with respect to the Class X-A Certificates as a Class, the Class X-A Notional
Balance as of such date of determination and with respect to any of the Class X-A Certificates, the product of the Percentage Interest
evidenced by such Certificate and the Class X-A Notional Balance as of such date of determination.

“NRSRO”:
Any nationally recognized statistical ratings organization within the meaning of Section 3(a)(62) of the Exchange Act.

“NRSRO Certification”:
A certification (a) executed by a NRSRO in favor of the 17g-5 Information Provider substantially in the form attached hereto as
Exhibit O or (b) provided

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electronically and executed by an NRSRO by means of a “click-through” confirmation
on the 17g-5 Information Provider’s Website.

“Offering
Circular”: That certain Offering Circular, dated the Pricing Date, relating to the offering of the Certificates.

“Officer’s
Certificate”: A certificate signed by the Chairman of the Board, the Vice Chairman of the Board, the President or a Vice
President (however denominated) and by the Treasurer, the Secretary, one of the Assistant Treasurers or Assistant Secretaries,
any Trust Officer or other officer of the Master Servicer or Special Servicer customarily performing functions similar to those
performed by any of the above designated officers, any Servicing Officer and also with respect to a particular matter, any other
officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject,
or an authorized officer of the Depositor, and delivered to the Depositor, the Trustee, the Certificate Administrator, the Special
Servicer or the Master Servicer, as the case may be.

“Offsetting
Modification Fees”: With respect to the Whole Loan or REO Loan and with respect to the Workout Fee or Liquidation Fee
payable by the Trust, any and all Modification Fees collected by the Special Servicer as additional servicing compensation, but
only to the extent that (1) such Modification Fees were earned and collected by the Special Servicer (A) in connection with the
workout or liquidation (including partial liquidation) of a Specially Serviced Loan or REO Loan as to which the subject Workout
Fee or Liquidation Fee became payable or (B) in connection with any workout of a Specially Serviced Loan that closed within the
prior 18 months (determined as of the closing day of the workout or liquidation as to which the subject Workout Fee or Liquidation
Fee became payable) and (2) such Modification Fees were earned in connection with a modification, restructure, extension, waiver
or amendment of the Whole Loan or REO Loan at a time when the Whole Loan or REO Loan was a Specially Serviced Loan.

“Opinion
of Counsel”: A written opinion of counsel, who may, without limitation, be counsel for the Depositor, the Special Servicer
or the Master Servicer, as the case may be, acceptable to the Certificate Administrator and the Trustee, except that any opinion
of counsel relating to (a) qualification of either Trust REMIC as a REMIC or the imposition of tax under the REMIC Provisions on
any income or property of either Trust REMIC, (b) compliance with the REMIC Provisions (including application of the definition
of “Independent Contractor”), or (c) a resignation of the Master Servicer or the Special Servicer pursuant to Section
6.04(b) of this Agreement, must be an opinion of counsel who is Independent of the Depositor, the Master Servicer and the Special
Servicer.

“Originator”:
Each of Deutsche Bank AG, New York Branch, and JPMorgan Chase Bank, National Association (or its affiliate), in its capacity as
co-originator of the Trust Loan under the Loan Agreement.

“Other Asset
Representations Reviewer”: The applicable other “asset representations reviewer” under an Other Pooling and
Servicing Agreement relating to a Companion Loan.

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“Other Depositor”:
With respect to any Other Securitization Trust, the related “depositor” (within the meaning of Item 1101(e) of Regulation
AB).

“Other Exchange
Act Reporting Party”: With respect to any Other Securitization Trust that is subject to the reporting requirements of
the Exchange Act, the trustee, certificate administrator, master servicer, special servicer or depositor under the related Other
Pooling and Servicing Agreement that is responsible for the preparation and/or filing of Form 8-K, Form 10-D and Form 10-K with
respect to such Other Securitization Trust, as identified in writing to the parties to this Agreement; and, with respect to any
Other Securitization Trust that is not subject to the reporting requirements of the Exchange Act and for the purposes of Sections
11.7, 11.8, 11.9 and 11.16 only, the trustee, certificate administrator, master servicer, special servicer
or depositor under the related Other Pooling and Servicing Agreement that is responsible for the preparation and/or dissemination
of periodic distribution date statements or similar reports, as identified in writing to the parties to this Agreement.

“Other Pooling
and Servicing Agreement”: The pooling and servicing agreement or other comparable agreement governing the creation of
any Other Securitization Trust and the issuance of securities backed by the assets of such Other Securitization Trust.

“Other Securitization
Trust”: Any “issuing entity” (within the meaning of Item 1101(f) of Regulation AB) that holds a Companion
Loan (or any portion thereof or interest therein), as identified in writing to the parties to this Agreement.

“Other Servicer”:
The applicable other “master servicer” under an Other Pooling and Servicing Agreement relating to a Companion Loan.

“Other Special
Servicer”: The applicable other “special servicer” under an Other Pooling and Servicing Agreement relating
to a Companion Loan.

“Other Trustee”:
The applicable other “trustee” under an Other Pooling and Servicing Agreement relating to a Companion Loan.

“Ownership
Interest”: Any record or beneficial interest in a Class R or Class LR Certificate.

“P&I
Advance”: Any advance made by the Master Servicer or the Trustee pursuant to Section 4.07 of this Agreement. Each
reference to the payment or reimbursement of a P&I Advance shall be deemed to include, whether or not specifically referred
to and without duplication, payment or reimbursement of interest thereon at the Advance Rate. Neither the Master Servicer nor the
Trustee will be required to make P&I Advances with respect to any delinquent payment amounts due on the Companion Loans.

“P&I
Advance Determination Date”: With respect to the Distribution Date, the second Business Day prior to such Distribution
Date.

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“Pass-Through
Rate”: With respect to each Class of Regular Certificates, the rate for such Class as set forth below.

	 	
        Class
	 	
        Pass-Through
        Rate

	 	Class A	 	Class A Pass-Through Rate
	 	Class X-A	 	Class X-A Pass-Through Rate
	 	Class B	 	Class B Pass-Through Rate
	 	Class C	 	Class C Pass-Through Rate
	 	Class D	 	Class D Pass-Through Rate

With respect to each
Class of Lower-Tier Regular Interests, the Net Mortgage Rate.

“Paying Agent”:
The paying agent appointed pursuant to Section 5.04 of this Agreement.

“PCAOB”:
The Public Company Accounting Oversight Board.

“Penalty
Charges”: With respect to the Whole Loan (or successor REO Loan), any amounts collected thereon from the Borrower that
represent default charges, penalty charges, late fees and/or Default Interest, and excluding any Prepayment Charge.

“Percentage
Interest”: As to any Certificate, the percentage interest evidenced thereby in distributions required to be made with
respect to the related Class. With respect to any Certificate (except the Class R and Class LR Certificates), the percentage interest
is equal to the initial denomination of such Certificate divided by the initial Certificate Balance or Notional Balance, as applicable,
of such Class of Certificates. With respect to any Class R or Class LR Certificate, the percentage interest is set forth on the
face thereof.

“Performing
Loan”: The Whole Loan if it is not a Specially Serviced Loan or REO Loan.

“Permitted
Investments”: Any one or more of the following obligations or securities payable on demand or having a fixed principal
amount due on a scheduled maturity date on or before the Business Day preceding the date upon which such funds are required to
be drawn (and which do not include any embedded options, unless full payment of principal will be paid in cash upon the exercise
of such option), regardless of whether issued by the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee or any of their respective Affiliates and having at all times the required ratings, if any, provided for in this
definition, unless each Rating Agency shall have provided a No Downgrade Confirmation relating to the Certificates and the Companion
Loan Securities:

(a)          direct
obligations of, and obligations fully guaranteed as to timely payment of principal and interest by, the United States of America,
Fannie Mae, Freddie Mac or any agency or instrumentality of the United States of America, the obligations of which are backed by
the full faith and credit of the United States of America that mature in one (1) year or less from the date of acquisition; provided
that any obligation of, or guarantee by, any agency or instrumentality of the United States of America shall be a

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Permitted Investment
only if such investment would not result in the downgrading, withdrawal or qualification of the then-current rating assigned by
each Rating Agency to any Certificate as evidenced in writing, other than (a) unsecured senior debt obligations of the U.S. Treasury
(direct or fully funded obligations), U.S. Department of Housing and Urban Development public housing agency bonds, Federal Housing
Administration debentures, Government National Mortgage Association guaranteed mortgage-backed securities or participation certificates,
RefCorp debt obligations and SBA-guaranteed participation certificates and guaranteed pool certificates and (b) Farm Credit System
consolidated systemwide bonds and notes, Federal Home Loan Banks’ consolidated debt obligations, Freddie Mac debt obligations,
and Fannie Mae debt obligations (1) rated at least “A-1” by S&P, if such obligations mature in 60 days or less,
or rated at least “AA-”, “A-1+” or “AAAm” by S&P, if such obligations mature in 365 days
or less and (2)(A) if it has a term of 30 days or less, the short-term obligations of which are rated in the highest short-term
rating category by Moody’s or the long-term obligations of which are rated at least “A2” by Moody’s, (B)
if it has a term of three months or less, but more than 30 days, the short-term obligations of which are rated in the highest short-term
rating category by Moody’s and the long-term obligations of which are rated at least “A2” by Moody’s, (C)
if it has a term of six months or less, but more than three months, the short-term obligations of which are rated in the highest
short-term rating category by Moody’s and the long-term obligations of which are rated at least “Aa3” by Moody’s,
and (D) if it has a term of more than six months, the short-term obligations of which are rated in the highest short-term rating
category by Moody’s and the long-term obligations of which are rated “Aaa” by Moody’s;

(b)          repurchase
agreements on obligations specified in clause (a) of this definition, with a party agreeing to repurchase such obligations (A)
in the case of such investments with maturities of 30 days or less, the short term obligations of which are rated at least “A-1+”
by S&P (or “A-1” by S&P, if the obligations mature within 60 days) and “P-1” by Moody’s and
the long term obligations of which are rated at least “A2” by Moody’s (or, in the case of any such Rating Agency,
such lower rating as is the subject of a No Downgrade Confirmation relating to the Certificates and any Companion Loan Securities),
(B) in the case of such investments with maturities of three months or less, but more than 30 days, the short term obligations
of which are rated at least “A-1+” by S&P (or “A-1” by S&P, if the obligations mature within 60
days) and “P-1” by Moody’s (or the long term obligations of which are rated at least “A2” by Moody’s
(or, in the case of any such Rating Agency, such lower rating as is the subject of a No Downgrade Confirmation relating to the
Certificates and any Companion Loan Securities), (C) in the case of such investments with maturities of six months or less, but
more than three months, the short term obligations of which are rated at least in the highest short term rating category by Moody’s
and the long term obligations of which are rated at least “AAA” (or the equivalent) by S&P and at least “Aa3”
by Moody’s (or, in the case of any such Rating Agency, such lower rating as is the subject of a No Downgrade Confirmation
relating to the Certificates and any Companion Loan Securities), and (D) in the case of such investments with maturities of more
than six months (but less than 365 days), the short term obligations of which are rated at least “P-1” by Moody’s
and the long term obligations of which are rated at least “AAA” (or the equivalent) by S&P, or if not rated by
S&P, as is otherwise acceptable to such Rating Agency, and “Aaa” by Moody’s (or, in

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the case of any such
Rating Agency, such lower rating as is the subject of a No Downgrade Confirmation relating to the Certificates and any Companion
Loan Securities);

(c)          federal
funds, unsecured uncertificated certificates of deposit, time deposits, demand deposits and bankers’ acceptances of any bank
or trust company organized under the laws of the United States or any state thereof, (A) in the case of such investments with maturities
of 30 days or less, the short term obligations of which are rated at least “A-1+” by S&P (or “A-1”
by S&P, if the obligations mature within 60 days) and “P-1” by Moody’s (or, with respect to Moody’s,
the long term obligations of which are rated at least “A2” by Moody’s) (or, in the case of any such Rating Agency,
such lower rating as is the subject of a No Downgrade Confirmation relating to the Certificates and any Companion Loan Securities),
(B) in the case of such investments with maturities of three months or less, but more than 30 days, the short term obligations
of which are rated at least “A-1+” by S&P (or “A-1” by S&P, if the obligations mature within 60
days) and in the highest short-term debt rating category by Moody’s (or, with respect to Moody’s, the long-term obligations
of which are rated at least “A2” by Moody’s) (or, in the case of any such Rating Agency, such lower rating as
is the subject of a No Downgrade Confirmation relating to the Certificates and any Companion Loan Securities), (C) in the case
of such investments with maturities of six months or less, but more than three months, the short term obligations of which are
rated at least “A-1+” by S&P and the highest short-term debt rating category by Moody’s and the long-term
obligations of which are rated at least “Aa3” by Moody’s (or, in the case of any such Rating Agency, such lower
rating as is the subject of a No Downgrade Confirmation relating to the Certificates and any Companion Loan Securities), and (D)
in the case of such investments with maturities of more than six months (but less than 365 days), the short term obligations of
which are rated at least in the highest short term rating category of Moody’s and the long-term obligations of which are
rated at least “AAA” (or the equivalent) by S&P and “Aaa” by Moody’s or otherwise acceptable
to such Rating Agency, (or, in the case of any such Rating Agency, such lower rating as is the subject of a No Downgrade Confirmation
relating to the Certificates and any Companion Loan Securities);

(d)          commercial
paper of any corporation incorporated under the laws of the United States or any state thereof (or of any corporation not so incorporated,
provided that the commercial paper is United States Dollar denominated and amounts payable thereunder are not subject to
any withholding imposed by any non-United States jurisdiction) (A) in the case of such investments with maturities of 30 days or
less, the short term obligations of which are rated at least “A-1+” by S&P (or “A-1” by S&P, if
the obligations mature within 60 days) and “P-1” by Moody’s and the long term obligations of which are rated
at least “A2” by Moody’s (or, in the case of any such Rating Agency, such lower rating as is the subject of a
No Downgrade Confirmation relating to the Certificates and any Companion Loan Securities), (B) in the case of such investments
with maturities of three months or less, but more than 30 days, the short term obligations of which are rated at least “A-1+”
by S&P (or “A-1” by S&P, if the obligations mature within 60 days) and “P-1” by Moody’s (or,
with respect to Moody’s, the long-term obligations of which are rated at least “A2” by Moody’s) (or, in
the case of

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any such Rating Agency, such lower rating as is the subject of a No Downgrade Confirmation relating to the Certificates
and any Companion Loan Securities), (C) in the case of such investments with maturities of six months or less, but more than three
months, the short term obligations of which are rated at least “A-1+” by S&P and “P-1” by Moody’s
(or, with respect to Moody’s, the long-term obligations of which are rated at least “Aa3” by Moody’s) (or,
in the case of any such Rating Agency, such lower rating as is the subject of a No Downgrade Confirmation relating to the Certificates
and any Companion Loan Securities), and (D) in the case of such investments with maturities of more than six months (but less than
365 days), the long-term obligations of which are rated at least “AAA” (or the equivalent) by S&P and “Aaa”
by Moody’s (or, with respect to Moody’s, the short term obligations of which are rated at least in the highest short-term
debt rating category of Moody’s) or, if not so rated by S&P, as is otherwise acceptable to such Rating Agency, (or, in
the case of any such Rating Agency, such lower rating as is the subject of a No Downgrade Confirmation relating to the Certificates
and any Companion Loan Securities);

(e)          (1)
units of taxable money market mutual funds, issued by regulated investment companies, which seek to maintain a constant net asset
value per share (including the Federated Prime Obligation Money Market Fund, US Bank Long Term Eurodollar Sweep or the Wells Fargo
Advantage Heritage Money Market Fund) so long as any such fund is rated at least “AAAm” by S&P and “AAA-mf”
by Moody’s or otherwise acceptable to such Rating Agency, in any such case, as confirmed in a No Downgrade Confirmation relating
to the Certificates and any Companion Loan Securities), and (2) units of money market funds that (A) have substantially all of
its assets invested continuously in the types of investments referred to in clause (a) above, (B) has net assets of not less than
$5,000,000,000, and (C) is rated at least “AAAm” by S&P and “AAA-mf” by Moody’s; and

(f)          any
other demand, money market or time deposit, demand obligation or any other obligation, security or investment, provided
that the Master Servicer, Special Servicer or Certificate Administrator, as applicable, has received a No Downgrade Confirmation
relating to the Certificates and any Companion Loan Securities;

provided, that no instrument
or security shall be a Permitted Investment if (a) (i) such instrument or security evidences a right to receive only interest payments
or (ii) the right to receive principal and interest payments derived from the underlying investment provides a yield to maturity
in excess of 120% of the yield to maturity at par of such underlying investment, (b) it may be redeemed of a price below the purchase
price or (c) if such instrument or security is rated by S&P, such instrument or security has a qualified rating (i.e.,
one with a qualifying suffix), other than (x) a rating with a regulatory indicator, such as the “(sf)” subscript, (y)
an unsolicited rating, or (z) a rating with a “(p)” or “(i)” subscript that takes into consideration the
credit risk of the principal, and, if applicable, interest portion of such instrument or security. No Permitted Investment may
be purchased at a price in excess of par or sold prior to maturity if such sale would result in a loss of principal.

“Permitted
Special Servicer/Affiliate Fees”: Any commercially reasonable treasury management fees, banking fees, customary title
agency fees and insurance commissions

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or fees received or retained by the Special Servicer or any of its Affiliates in connection
with any services performed by such party with respect to the Whole Loan or REO Property.

“Permitted
Transferee”: With respect to a Class R or Class LR Certificate, any Person or agent thereof that is a Qualified Institutional
Buyer or an Affiliated Person, other than (a) a Disqualified Organization, (b) a Person that is a Disqualified Non-U.S. Person,
(c) any other Person so designated by the Certificate Registrar who is unable to provide an Opinion of Counsel (provided at the
expense of such Person or the Person requesting the Transfer) to the effect that the Transfer of an Ownership Interest in any Class
R or Class LR Certificate to such Person will not cause either Trust REMIC to fail to qualify as a REMIC at any time that the Certificates
are outstanding, (d) an entity treated as a domestic partnership for U.S. federal income tax purposes, one or more of the direct
or indirect beneficial owners (other than through a U.S. corporation) of which is (or is permitted under the applicable partnership
agreement to be) a Disqualified Non-U.S. Person or (e) a U.S. Person with respect to whom income on the Class R or Class LR Certificate
is attributable to a fixed base or foreign permanent establishment, within the meaning of an applicable income tax treaty, of such
transferee or any other U.S. Person.

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

“Plan”:
As defined in Section 5.02(k) of this Agreement.

“Prepayment
Assumption”: The assumption that the Trust Loan does not prepay prior to its Maturity Date.

“Prepayment
Charge”: With respect to the Whole Loan, any prepayment premium, spread maintenance premium, yield maintenance premium
or similar fee required to be paid under the Loan Documents in connection with a Principal Prepayment in respect of the Whole Loan.
Any breakage costs payable to the “lender” (as such term is used in the related Loan Documents) under the Trust Loan
and actually collected from the Borrower in connection with a Principal Prepayment during or after a “lockout” period
shall constitute Prepayment Charges.

“Prepayment
Interest Excess”: Any case in which a Principal Prepayment in full or in part, Insurance Proceeds, Liquidation Proceeds
or Condemnation Proceeds is made during the Collection Period immediately following a Due Date for the Whole Loan but prior to
the Servicer Remittance Date (but only if the Master Servicer remits such payment on the Servicer Remittance Date for such Collection
Period).

“Prepayment
Interest Shortfall”: With respect to any Distribution Date, if the Whole Loan was subject to a Principal Prepayment in
full or in part which did not include a full month’s interest, or as to which Insurance Proceeds, Liquidation Proceeds or
Condemnation Proceeds, as applicable, were received by the Master Servicer or Special Servicer for application to the Whole Loan,
in each case on or prior to the Due Date in the related Whole Loan Interest Accrual Period preceding such Distribution Date, the
shortfall in the amount of interest that would have accrued and been payable through the end of the Whole Loan Interest Accrual
Period at the Net Mortgage Rate on the amount of such Principal Prepayment, Insurance

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Proceeds, Liquidation Proceeds or Condemnation
Proceeds had such Principal Prepayment, Insurance Proceeds, Liquidation Proceeds or Condemnation Proceeds not been made (without
regard to any Prepayment Charges actually collected).

“Pricing
Date”: July 20, 2016.

“Prima”:
Prima Capital Advisors LLC.

“Prima Parties”:
Prima, together with its Affiliates and managed account. “Prima Parties” shall not include any entity issuing collateralized
debt obligations, collateralized loan obligations or any other similar securitization vehicle.

“Prime Rate”:
The “Prime Rate” as published in the “Money Rates” section of The Wall Street Journal,
Eastern edition (or, if such section or publication is no longer available, such other comparable publication as determined by
the Certificate Administrator in its reasonable discretion) as may be in effect from time to time, or, if the “Prime Rate”
no longer exists, such other comparable rate (as determined by the Certificate Administrator in its reasonable discretion) as may
be in effect from time to time. The Certificate Administrator shall notify in writing the Master Servicer and the Special Servicer
with regard to any determination of the Prime Rate in accordance with the parenthetical in the preceding sentence.

“Principal
Balance Certificates”: The Class A, Class B, Class C and Class D Certificates.

“Principal
Distribution Amount”: For any Distribution Date, an amount equal to (i) the sum of (without duplication and to the extent
not already included in the Principal Distribution Amount, if any, for the prior Distribution Date and other than amounts received
with respect to the Trust Loan as recoveries of Realized Losses):

(A)          the
principal component, if any, of the scheduled Monthly Payment (other than any Balloon Payment) due on the Trust Loan on the Due
Date in the related Collection Period (if received during the related Collection Period or advanced);

(B)          the
principal component, if any, of the Assumed Scheduled Payment deemed due on the Due Date in the related Collection Period (if received
during the related Collection Period or advanced) with respect to the Trust Loan if it is delinquent in respect of its Balloon
Payment;

(C)          the
Stated Principal Balance of the Trust Loan if it was, during the Collection Period, repurchased from the Trust Fund in connection
with a Breach or Defect pursuant to Section 2.03 of this Agreement, purchased from the Trust Fund pursuant to Section
3.16 of this Agreement, or purchased from the Trust Fund pursuant to Section 9.01 of this Agreement;

(D)         the
portion of Unscheduled Payments allocable to principal of the Trust Loan received during the Collection Period;

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(E)         the
principal component of any Balloon Payment and any other principal payment on the Trust Loan received on or after the Maturity
Date thereof, to the extent received during the Collection Period;

(F)         all
other Principal Prepayments on the Trust Loan received in the related Collection Period;

(G)        any
indemnification payment made by the Trust Loan Sellers as a result of a Material Breach or Material Document Defect pursuant to
Section 2.03(e) of this Agreement to the extent that such amount was transferred into the Collection Account pursuant to
Section 3.05(a)(xi) of this Agreement during the related Collection Period;

(H)        any
other full or partial recoveries in respect of principal of the Trust Loan, including Net Insurance Proceeds, Net Liquidation Proceeds,
Net Condemnation Proceeds and Net REO Proceeds received in the related Collection Period; and

(I)          the
principal component of any late Monthly Payments or Unscheduled Payments on the Trust Loan received after the end of the Collection
Period relating to such Distribution Date but prior to the close of business on the Business Day prior to the related Servicer
Remittance Date;

as reduced by (ii) the principal
portion of all previously unreimbursed P&I Advances that are paid or reimbursed from the principal collections on the Trust
Loan described in clause (i) of this definition.

The principal component
of the amounts set forth above shall be determined in accordance with Section 1.02 of this Agreement.

“Principal
Prepayment”: Any payment of principal made by the Borrower on the Whole Loan which is received in advance of its scheduled
Due Date and which is not accompanied by an amount of interest representing the full amount of scheduled interest due with respect
to the related Whole Loan Interest Accrual Period.

“Privileged
Information”: Any (i) correspondence or other communications between the Directing Holder (or the Controlling Class),
on the one hand, and the Special Servicer (or the Master Servicer), on the other hand, related to the Whole Loan if the Whole Loan
becomes a Specially Serviced Mortgage Loan or the exercise of the consent or consultation rights of the Directing Holder under
this Agreement and the Co-Lender Agreement, (ii) strategically sensitive information that the Special Servicer has reasonably determined
could compromise the Trust’s position in any ongoing or future negotiations with the Borrower or other interested party,
and (iii) information subject to attorney-client privilege; provided that the summary of any Final Asset Status Report prepared
pursuant to Section 3.23(g) is deemed not to be Privileged Information (although no such summary shall be made available
to the Borrower, any Manager, any Affiliate of the Borrower or Manager or any agent of any of the foregoing).

“Privileged
Information Exception”: With respect to any Privileged Information, at any time (a) such Privileged Information becomes
generally available and known to the public other than as a result of a disclosure directly or indirectly by the party restricted
from disclosing

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such Privileged Information (the “Restricted Party”), (b) it is reasonable and necessary for
the Restricted Party to disclose such Privileged Information in working with legal counsel, auditors, taxing authorities or other
governmental agencies, (c) such Privileged Information was already known to such Restricted Party and not otherwise subject to
a confidentiality obligation and/or (d) the Restricted Party is required by law to disclose such information.

“Privileged
Person”: A party to this Agreement, the Trust Loan Sellers, a Rating Agency, a designee of the Depositor (including any
financial market publisher), the Initial Purchasers, the Directing Holder (but only during any Subordinate Control Period and any
Subordinate Consultation Period), the Companion Loan Holders, any other person who delivers to the Certificate Administrator an
Investor Certification (which may be provided by the Certificate Administrator upon request) and any NRSRO that delivers an NRSRO
Certification to the 17g-5 Information Provider substantially in the form of Exhibit O to this Agreement, which Investor
Certification and NRSRO Certification may be submitted electronically via the Certificate Administrator’s Website in a “click-through”
format. For purposes of obtaining information or access to the Certificate Administrator’s Website, each Borrower Related
Party shall be prohibited from obtaining such information or access pursuant to the terms of this Agreement (other than the Distribution
Date Statement) and will not be considered Privileged Persons.

“Prohibited
Party”: Any proposed Servicing Function Participant (i) that is listed on the Depositor’s Do Not Hire List or (ii)
for which the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee that seeks to retain such Servicing
Function Participant has actual knowledge obtained by written notice or through actual experience that such party at any point
prior to such hiring, assignment or transfer failed to comply with the Servicing Function Participant’s reporting obligations
under Regulation AB with respect to any other securitization.

“Property
Advance”: Any advance made by the Master Servicer or the Trustee, as applicable, in respect of Property Protection Expenses
or any expenses incurred to protect, preserve and enforce the security for the Whole Loan or to pay taxes and assessments or insurance
premiums with respect to the Mortgaged Property, to the extent the making of any such advance is specifically provided for in this
Agreement, including, but not limited to, any advance made pursuant to Section 3.02 or Section 3.21 of this Agreement,
as applicable. Each reference to the payment or reimbursement of a Property Advance shall be deemed to include, whether or not
specifically referred to, payment or reimbursement of interest thereon at the Advance Rate. Notwithstanding anything to the contrary,
“Property Advance” shall not include allocable overhead of the Master Servicer or the Special Servicer, as applicable,
such as costs for office space, office equipment, supplies and related expenses, employee salaries and related expenses and similar
internal costs and expenses or costs and expenses incurred by any such party in connection with its purchase of the Whole Loan
or REO Property.

“Property
Protection Expenses”: Any costs and expenses incurred by the Master Servicer or the Special Servicer pursuant to Section
3.04, Section 3.08(a), Section 3.10, Section 3.11, Section 3.15(a), Section 3.15(b), Section
3.15(c), Section 3.16(c) or Section 3.24(a) of this Agreement or indicated herein as being payable as a Property
Advance or as a cost or expense of the Trust Fund and the Companion Loan Holders but subject to the provisions of Section 1.02(e)
or the Lower-Tier REMIC or Upper-Tier REMIC to be paid out of the Collection Account.

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“PTCE”:
Prohibited Transaction Class Exemption.

“Qualified
Affiliate”: Any Person (a) that is organized and doing business under the laws of any state of the United States or the
District of Columbia, (b) that is in the business of performing the duties of a servicer of mortgage loans, and (c) as to which
50% or greater of its outstanding voting stock or equity ownership interest are directly or indirectly owned by the Master Servicer
or the Special Servicer, as applicable, or by any Person or Persons who directly or indirectly own equity ownership interests in
the Master Servicer or the Special Servicer, as applicable.

“Qualified
Institutional Buyer”: A “qualified institutional buyer” within the meaning of Rule 144A.

“Qualified
Insurer”: As used in Section 3.08 of this Agreement:

(i) an insurance
company or security or bonding company qualified to write the related insurance policy in the relevant jurisdiction and whose claims
paying ability is rated at least (a) “A-” by S&P (or, if not rated by S&P, an equivalent rating by (x) at least
two NRSROs (which may include Moody’s, KBRA and/or Morningstar) or (y) one NRSRO (which may include Moody’s, KBRA and/or
Morningstar) and A.M. Best) or (b) “A3” by Moody’s (or, if not rated by Moody’s, an equivalent rating by
(x) at least two NRSROs (which may include S&P, KBRA and/or Morningstar) or (y) one NRSRO (which may include S&P, KBRA
and/or Morningstar) and A.M. Best);

(ii) in the
case of the fidelity bond and the errors and omissions insurance required to be maintained pursuant to Section 3.08(d) of
this Agreement, (a) a company that shall have a claim paying ability rated at least equal to any one of the following: (1) “A-”
by S&P, (2) “A3” by Moody’s, (3) “A-” by Fitch, (4) “A (low)” by DBRS or (5) “A-:X”
by A.M. Best; and

(iii) in the
case of clauses (i) and (ii), such other rating as to which a No Downgrade Confirmation has been obtained from each Rating Agency
and, if applicable, each rating agency relating to a Companion Loan Securitization for which the minimum rating set forth in the
applicable clause is not satisfied.

“Qualified
Manager”: As defined in the Loan Agreement.

“Qualified
Mortgage”: An obligation that is a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code
(but without regard to the rule in Treasury Regulations Section 1.860G-2(f)(2) that treats a defective obligation as a qualified
mortgage), or any substantially similar successor provision.

“Qualified
Servicer”: As defined in Section 3.30 of this Agreement.

“Rated Final
Distribution Date”: With respect to the Regular Certificates, the Distribution Date in August 2036.

“Rating Agency”:
Any of KBRA and S&P.

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“Rating Agency
Q&A Forum and Document Request Tool”: As defined in Section 3.14(d) of this Agreement.

“Realized
Loss”: With respect to any Distribution Date, the amount, if any, by which (a) the aggregate Certificate Balance of the
Principal Balance Certificates after giving effect to distributions of principal on such Distribution Date exceeds (b) the Stated
Principal Balance of the Trust Loan immediately following the Determination Date preceding such Distribution Date.

“Record Date”:
With respect to each Distribution Date, the close of business on the last Business Day of the calendar month immediately preceding
the month in which such Distribution Date occurs.

“Regular
Certificates”: The Class A, Class X-A, Class B, Class C and Class D Certificates.

“Regular
Interest Distribution Amount”: With respect to any Distribution Date, an amount equal to, (i) for any Class of Principal
Balance Certificates, interest for the related Interest Accrual Period at the applicable Pass-Through Rate for such Class on the
related Certificate Balance immediately prior to such Distribution Date; and (ii) for any Class of Class X Certificates, interest
for the related Interest Accrual Period at the applicable Pass-Through Rate for such Class on the related Notional Balance immediately
prior to such Distribution Date.

“Regulation
AB”: 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 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.

“Regulation
D”: Regulation D under the Act.

“Regulation
S”: Regulation S under the Act.

“Regulation
S Global Certificate”: Each of the Class A, Class X-A, Class B, Class C and Class D Certificates issued as such on the
Closing Date and registered in the name of a nominee of the Depository, interest in which is to be held by Regulation S Investors.

“Regulation
S Investor”: With respect to a transferee of an interest in a Regulation S Global Certificate, a transferee that acquires
such interest pursuant to Regulation S.

“Regulation
S Transfer Certificate”: As defined in Section 5.02(c)(i)(B) of this Agreement.

“Relevant
Servicing Criteria”: The Servicing Criteria applicable to each Reporting Servicer (as set forth, with respect to the
Master Servicer and the Special Servicer, on Schedule I to this Agreement). For clarification purposes, multiple Reporting
Servicers can have responsibility for the same Relevant Servicing Criteria and some of the Servicing Criteria will not be applicable
to certain Reporting Servicers. With respect to a Servicing Function

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Participant engaged by the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, the term “Relevant Servicing Criteria” refers to the items of the Relevant
Servicing Criteria applicable to the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee that engaged
such Servicing Function Participant that are applicable to such Servicing Function Participant based on the functions it has been
engaged to perform.

“REMIC”:
A “real estate mortgage investment conduit” within the meaning of Section 860D of the Code and the REMIC Provisions.

“REMIC Provisions”:
Provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections 860A through
860G 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.

“Remittance
Amount”: For each distribution date that a Master Servicer is required to make a distribution to a Companion Loan Holder
pursuant to Section 3.05(h), the amounts received by the Master Servicer (or, with respect to a Serviced REO Property, the
Special Servicer) during the related Collection Period pursuant to the Co-Lender Agreement and available for payment after withdrawals
from the Collection Account payable to the Companion Loan Holder(s) pursuant to the Co-Lender Agreement.

“Rents from
Real Property”: With respect to the REO Property, gross income of the character described in Section 856(d) of the Code,
which income, subject to the terms and conditions of that Section of the Code in its present form, does not include:

(a)          except
as provided in Section 856(d)(4) of the Code or (6), any amount received or accrued, directly or indirectly, with respect to the
REO Property, if the determination of such amount depends in whole or in part on the income or profits derived by any Person from
such property (unless such amount is a fixed percentage or percentages of receipts or sales and otherwise constitutes Rents from
Real Property);

(b)          any
amount received or accrued, directly or indirectly, from any Person if the Trust Fund owns directly or indirectly (including by
attribution) a ten percent or greater interest in such Person determined in accordance with Sections 856(d)(2)(B) and (d)(5) of
the Code;

(c)          any
amount received or accrued, directly or indirectly, with respect to the REO Property if any Person Directly Operates the REO Property;

(d)          any
amount charged for services that are not customarily furnished in connection with the rental of property to tenants in buildings
of a similar class in the same geographic market as the REO Property within the meaning of Treasury Regulations Section 1.856-4(b)(1)
(whether or not such charges are separately stated); and

(e)          rent
attributable to personal property unless such personal property is leased under, or in connection with, the lease of the REO Property
and, for any taxable

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year of the Trust Fund, such rent is no greater than 15 percent of the total rent received or accrued under,
or in connection with, the lease.

“REO Account”:
As defined in Section 3.15(b) of this Agreement.

“REO Loan”:
The Whole Loan if the Mortgaged Property has become an REO Property.

“REO Proceeds”:
With respect to the REO Property and the REO Loan, all revenues received by the Special Servicer with respect to the REO Property
or REO Loan which do not constitute Liquidation Proceeds.

“REO Property”:
The Mortgaged Property, title to which has been acquired by the Special Servicer on behalf of the Trust Fund through foreclosure,
deed-in-lieu of foreclosure or otherwise.

“Reporting
Servicer”: The Master Servicer, the Special Servicer (regardless of whether the Special Servicer has commenced special
servicing of the Whole Loan) and each Servicing Function Participant.

“Repurchase
Communication”: For purposes of Section 2.03(d) of this Agreement only, any communication, whether oral or written,
which need not be in any specific form.

“Repurchase
Price”: With respect to the Trust Loan if it is to be repurchased or purchased pursuant to Section 2.03(e) or
Section 9.01 of this Agreement, or if the Trust Loan becomes a Specially Serviced Loan or REO Loan that is to be sold pursuant
to Section 3.16 of this Agreement, an amount, calculated by the Master Servicer or the Special Servicer, as applicable,
equal to:

(a)          the
outstanding principal balance of the Trust Loan as of the date of purchase; plus

(b)          all
accrued and unpaid interest on the Trust Loan at the Trust Loan Rate in effect from time to time to but not including the Due Date
in the month of purchase (or, in the case of a purchase occurring after the Determination Date in the related month, to but not
including the Due Date in the month immediately succeeding such purchase), but excluding any yield maintenance or other prepayment
penalty; plus

(c)          all
related unreimbursed Property Advances and Administrative Advances plus accrued and unpaid interest on related Advances at the
Advance Rate, and all Special Servicing Fees and Workout Fees allocable to the Trust Loan; plus

(d)          any
Liquidation Fee due pursuant to Section 3.12 of this Agreement allocable to the Trust Loan or Specially Serviced Loan; plus

(e)          all
Additional Trust Fund Expenses; plus

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(f)          if
the Trust Loan (or REO Loan), or portion thereof, is being purchased by a Trust Loan Seller pursuant to the related Trust Loan
Purchase Agreement, to the extent not otherwise included in the amount described in clause (c) of this definition, all reasonable
out-of-pocket expenses reasonably incurred or to be incurred by the Master Servicer, the Special Servicer, the Depositor, the Certificate
Administrator and the Trustee in respect of the Breach or Defect giving rise to the repurchase obligation, including any such expenses
arising out of the enforcement of the repurchase obligation, including, without duplication, any such expenses previously reimbursed
from the Collection Account, plus accrued and unpaid interest thereon at the Advance Rate, to the extent payable to the Master
Servicer, the Special Servicer, the Certificate Administrator or the Trustee.

For purposes of this
Agreement, the “Repurchase Price” (i) in respect of a Companion Loan that is purchased by a Trust Loan Seller shall
be the repurchase price paid by the related Trust Loan Seller under the related Other Pooling and Servicing Agreement or the applicable
servicing agreement and (ii) with respect to a sale of an REO Property, the term Whole Loan or REO Loan shall be construed to include
the Companion Loans.

“Repurchase
Request”: As defined in Section 2.03(d) of this Agreement.

“Repurchase
Request Recipient”: As defined in Section 2.03(d) of this Agreement.

“Repurchase
Request Rejection”: As defined in Section 2.03(d) of this Agreement.

“Repurchase
Request Withdrawal”: As defined in Section 2.03(d) of this Agreement.

“Request
for Release”: A request for a release signed by a Servicing Officer, substantially in the form of Exhibit E to
this Agreement.

“Requesting
Party”: As defined in Section 3.30(a) of this Agreement.

“Reserve
Accounts”: Reserve accounts, if any, established pursuant to the Mortgage or the Loan Agreement and any Escrow Account.
Any Reserve Account may be a sub-account of a related Cash Collateral Account. Any Reserve Account shall be beneficially owned
for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance
with the terms and provisions of the Whole Loan and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment
income or gain thereon. The Master Servicer shall be permitted to make withdrawals therefrom for deposit into the related Cash
Collateral Account, if applicable, or the Collection Account or for the purposes set forth under the Loan Documents for the Whole
Loan.

“Residual
Certificates”: The Class R and Class LR Certificates, collectively.

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“Resolution
Extension Period”: As used in this Agreement shall mean:

(a)          for
purposes of remediating a Material Breach with respect to the Trust Loan, the 90-day period following the end of the applicable
Initial Resolution Period;

(b)          for
purposes of remediating a Material Document Defect with respect to the Trust Loan, if it is not a Specially Serviced Loan at the
commencement of, and does not become a Specially Serviced Loan during, the applicable Initial Resolution Period, the period commencing
at the end of the applicable Initial Resolution Period and ending on, and including, the earlier of (i) the 90th day following
the end of such Initial Resolution Period and (ii) the 45th day following the Trust Loan Sellers’ receipt of written notice
from the Master Servicer or the Special Servicer of the occurrence of any Servicing Transfer Event with respect to the Trust Loan
subsequent to the end of such Initial Resolution Period;

(c)          for
purposes of remediating a Material Document Defect with respect to the Trust Loan, if it is a not a Specially Serviced Loan as
of the commencement of the applicable Initial Resolution Period, but as to which a Servicing Transfer Event occurs during such
Initial Resolution Period, the period commencing at the end of the applicable Initial Resolution Period and ending on, and including,
the 90th day following the earlier of the end of such Initial Resolution Period and the Trust Loan Sellers’ receipt of written
notice from the Master Servicer or the Special Servicer of the occurrence of such Servicing Transfer Event; and

(d)          for
purposes of remediating a Material Document Defect with respect to the Trust Loan, if it is a Specially Serviced Loan as of the
commencement of the applicable Initial Resolution Period, zero (0) days; provided that, if the Trust Loan Sellers did not
receive written notice from the Master Servicer or the Special Servicer of the relevant Servicing Transfer Event as of the commencement
of the applicable Initial Resolution Period, then such Servicing Transfer Event shall be deemed to have occurred during such Initial
Resolution Period and clause (c) of this definition will be deemed to apply.

“Responsible
Officer”: When used with respect to the Trustee or the Certificate Administrator, any officer of the Trustee or the Certificate
Administrator, as the case may be, assigned to the Corporate Trust Office of such party; in each case, with direct responsibility
for the administration of this Agreement and also, with respect to a particular matter, any other officer to whom such matter is
referred because of such officer’s knowledge of and familiarity with the particular subject, and, in the case of any certification
required to be signed by a Responsible Officer, such an officer whose name and specimen signature appears on a list of corporate
trust officers furnished to the Master Servicer by the Trustee and the Certificate Administrator, as such list may from time to
time be amended.

“Restricted
Certificate”: As defined in Section 5.02(k) of this Agreement.

“Restricted
Holder”: Any Certificateholder, Beneficial Owner of a Certificate or prospective purchaser of a Certificate (whether
legally, beneficially or otherwise) that is also, with respect to any related mezzanine loan, a mezzanine lender (or any affiliate
or agent thereof)

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or an owner of any interest in any mezzanine loan (whether legally, beneficially or otherwise, including as a
beneficial owner of any securities collateralized by any such mezzanine loan) (a) as to which a Default has occurred giving 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 (and in respect of which, the Special
Servicer has received notice thereof).

“Restricted
Period”: The 40-day period prescribed by Regulation S commencing on the later of (a) the date upon which the Certificates
are first offered to institutions that are persons other than the Initial Purchasers and any other distributor (as defined in Regulation
S) of the Certificates and (b) the Closing Date.

“Rule 144A”:
Rule 144A under the Act.

“Rule 144A
Global Certificate”: Each of the Class A, Class X-A, Class B, Class C and Class D Certificates issued as such on the
Closing Date and registered in the name of a nominee of the Depository, interest in which is to be held by Qualified Institutional
Buyers.

“Rule 15Ga-1
Notice”: As defined in Section 2.03(d) of this Agreement.

“Rule 15Ga-1
Notice Provider”: As defined in Section 2.03(d) of this Agreement.

“Sarbanes
Oxley Act” means the Sarbanes Oxley Act of 2002 and the rules and regulations of the Commission promulgated thereunder
(including any interpretations thereof by the Commission’s staff).

“Sarbanes-Oxley
Certification”: With respect to an Other Securitization Trust, the certification required to be filed together with such
Other Securitization Trust’s Exchange Act report on Form 10-K pursuant to Rule 13a-14 and Rule 15d-14 of the Exchange Act.

“S&P”:
S&P Global Ratings, a Standard & Poor’s Financial Services LLC business, or any successor thereto. If neither S&P
nor any successor remains in existence, “S&P” shall be deemed to refer to such other nationally recognized statistical
rating agency or other comparable Person designated by the Depositor, notice of which designation shall be given to the other parties
hereto and specific ratings of S&P herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.

“Securities
Legend”: As defined in Section 5.02(c)(iii) of this Agreement.

“Senior Non-Trust
Notes”: Note A-1-EMP-C1, Note A-1-EMP-C2, Note A-1-EMP-C3, Note A-1-EMP-C4 Note A-2-EMP-C1, Note A-2-EMP-C2, Note A-2-EMP-C3,
Note A-2-EMP-C4, Note A-1-SFC-C1, Note A-1-SFC-C2, Note A-1-SFC-C3, Note A-1-SFC-C4 Note A-2-SFC-C1, Note A-2-SFC-C2, Note A-2-SFC-C3
and Note A-2-SFC-C4, in the aggregate principal amount of $251,058,000.00.

“Senior Notes”:
The Senior Trust Notes and the Senior Non-Trust Notes.

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“Senior Trust
Notes”: Note A-1-EMP-S1, Note A-1-EMP-S2, Note A-2-EMP-S1, Note A-2-EMP-S2, Note A-1-SFC-S1, Note A-1-SFC-S2, Note A-2-SFC-S1
and Note A-2-SFC-S2, in the aggregate principal amount of $182,019,000.00.

“Service(s)(ing)”:
In accordance with Regulation AB, the act of servicing and administering the Trust Loan or any other assets of the Trust by an
entity that meets the definition of “servicer” set forth in Item 1101 of Regulation AB and is referenced in the disclosure
requirements set forth in Item 1108 of Regulation AB. For clarification purposes, any uncapitalized occurrence of this term shall
have the meaning commonly understood by participants in the commercial mortgage-backed securities market.

“Servicer
Remittance Date”: With respect to any Distribution Date, the Business Day preceding such Distribution Date.

“Servicer
Termination Event”: A Master Servicer Termination Event or Special Servicer Termination Event, as applicable.

“Servicing
Compensation”: With respect to any Collection Period, the related Servicing Fee, Prepayment Interest Excess (if any and
to the extent any such Prepayment Interest Excess exceeds the amount of any Prepayment Interest Shortfalls) and any other fees,
charges or other amounts payable to the Master Servicer under this Agreement for such period.

“Servicing
Criteria”: The criteria set forth in paragraph (d) of Item 1122 of Regulation AB as such may be amended from time to
time.

“Servicing
Fee”: With respect to the Trust Loan or the Whole Loan, as the case may be, and for any Distribution Date, an amount
per Interest Accrual Period equal to interest at the Servicing Fee Rate accrued on the Stated Principal Balance of the Trust Loan
or the Whole Loan, as the case may be, as of the Due Date immediately preceding such Distribution Date (without giving effect to
payments of principal on the Trust Loan or the Whole Loan, as the case may be, on such Due Date). The Servicing Fee shall be calculated
in accordance with the provisions of Section 1.02(a) of this Agreement. For the avoidance of doubt, the Servicing Fee shall
be deemed for tax purposes as paid from the Lower-Tier REMIC.

“Servicing
Fee Rate”: (a) With respect to the Trust Loan, a master servicing fee equal to 0.00125% per annum, and (b) with
respect to the Whole Loan, a primary servicing fee equal to 0.00125% per annum.

“Servicing
File”: As defined in the Trust Loan Purchase Agreements.

“Servicing
Function Participant”: Any Person, other than the Master Servicer, the Special Servicer, the Certificate Administrator,
the Custodian or the Trustee, that, within the meaning of Item 1122 of Regulation AB, is performing activities that address the
Servicing Criteria, unless the Master Servicer has assumed responsibility for the servicing activity, as provided for under Regulation
AB.

“Servicing
Officer”: Any officer or employee of the Master Servicer or the Special Servicer, as applicable, involved in, or responsible
for, the administration and servicing

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of the Trust Loan and/or a Companion Loan, or this Agreement and also, with respect to a
particular matter, any other officer to whom such matter is referred because of such officer’s or employee’s knowledge
of and familiarity with the particular subject, and, in the case of any certification required to be signed by a Servicing Officer,
such an officer or employee whose name and specimen signature appears on a list of servicing officers furnished to the Certificate
Administrator and the Trustee by the Master Servicer or the Special Servicer, as applicable, as such list may from time to time
be amended.

“Servicing
Standard”: With respect to the Master Servicer (with respect to the Whole Loan) and the Special Servicer (with respect
to the Specially Serviced Loan or REO Loan), to diligently service and administer the Whole Loan, Specially Serviced Loan or REO
Loan for which each is responsible in the best interests of and for the benefit of all of the Certificateholders and the Companion
Loan Holders (as a collective whole as if such Certificateholders and Companion Loan Holders constitute a single lender), as determined
by the Master Servicer or the Special Servicer, as the case may be, in the exercise of its reasonable judgment, in accordance with
applicable law, the terms of this Agreement, the Loan Documents and the Co-Lender Agreement, and to the extent not inconsistent
with the foregoing, in accordance with the higher of the following standards of care:

(a)          the
same manner in which, and with the same care, skill, prudence and diligence with which, the Master Servicer or the Special Servicer,
as the case may be, services and administers similar mortgage loans for other third-party portfolios, giving due consideration
to the customary and usual standards of practice of prudent institutional commercial and multifamily mortgage loan servicers servicing
their own mortgage loans with a view to the timely recovery of all payments of principal and interest under the Whole Loan or if
the Whole Loan is a Defaulted Mortgage Loan, the maximization of timely recovery of principal and interest on a net present value
basis (determined in accordance with the Loan Documents or, in the event the Loan Documents are silent, at the Calculation Rate)
on the Whole Loan, and the best interests of the Trust and the Certificateholders and the Companion Loan Holders (as a collective
whole as if such Certificateholders and Companion Loan Holders constitute a single lender), as determined by the Master Servicer
or the Special Servicer, as the case may be, in the exercise of its reasonable judgment; and

(b)          the
same care, skill, prudence and diligence with which the Master Servicer or the Special Servicer, as the case may be, services and
administers commercial and multifamily mortgage loans owned, if any, by the Master Servicer or the Special Servicer, as the case
may be, with a view to the timely recovery of all payments of principal and interest under the Whole Loan or, if the Whole Loan
is a Defaulted Mortgage Loan, the maximization of timely recovery of principal and interest on a net present value basis (determined
in accordance with the Loan Documents or, in the event the Loan Documents are silent, at the Calculation Rate) on the Whole Loan,
and the best interests of the Trust and the Certificateholders and Companion Loan Holders (as a collective whole as if such Certificateholders
and Companion Loan Holders constitute a single lender), as determined by the Master Servicer or the Special Servicer, as the case
may be, in the exercise of its reasonable judgment, but without regard to any potential conflict of interest arising from (a) any
relationship that the Master Servicer or the

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Special Servicer, as the case may be, or any Affiliate of the Master Servicer or the
Special Servicer, may have with the Borrower, the Trust Loan Sellers, the Companion Loan Holders, any other party to this Agreement
or any Affiliate of the foregoing; (b) the ownership of any Certificate or any interest in the Companion Loans or any mezzanine
loan related to the Whole Loan by the Master Servicer or the Special Servicer, as the case may be, or any Affiliate of the Master
Servicer or the Special Servicer; (c) the Master Servicer’s obligation to make Advances; (d) the Master Servicer’s
or the Special Servicer’s, as the case may be, right to receive compensation for its services hereunder or with respect to
any particular transaction; (e) the ownership, servicing or management for others of any other mortgage loans or mortgaged properties
by the Master Servicer or the Special Servicer or any Affiliate of the Master Servicer or the Special Servicer, as applicable;
and (f) any debt that the Master Servicer or the Special Servicer or any Affiliate of the Master Servicer or the Special Servicer,
as applicable, has extended to the Borrower or an Affiliate of the Borrower (including, without limitation, any mezzanine financing).

“Servicing
Transfer Event”: An event specified in the definition of Specially Serviced Loan.

“Significant
Obligor NOI Quarterly Filing Deadline”: With respect to each calendar quarter (other than the fourth calendar quarter
of any calendar year), the date that is 15 days after the distribution date under the related Other Pooling and Servicing Agreement
occurring on or immediately following the 45th day after the end of such calendar quarter. The parties to this Agreement acknowledge
that in the event the Mortgaged Property securing any related Companion Loan is a “significant obligor” (within the
meaning of Item 1101(k) of Regulation AB) with respect to an Other Securitization Trust that includes such Companion Loan, the
date on which quarterly financial statements are required to be delivered to the lender under the Loan Agreement is, with respect
to net operating income information, (i) 30 days after the end of each fiscal quarter or (ii) 60 days after the end of each calendar
quarter in the event that any applicable Companion Loan Holder has not notified the Borrower that the Mortgaged Property is a “significant
obligor” (as defined in Item 1101(k) of Regulation AB) pursuant to Section 13.6 of the Loan Agreement. For the avoidance
of doubt, the Master Servicer shall not be liable for any failure to deliver updated quarterly financial statements of such “significant
obligor” by the Significant Obligor NOI Quarterly Filing Deadline if any applicable Companion Loan Holder has failed to provide
notice to the Borrower as described in clause (ii) above.

“Significant
Obligor NOI Yearly Filing Deadline”: With respect to each calendar year, the date that is the 90th day after
the end of such calendar year.

“Similar
Law”: As defined in Section 5.02(k) of this Agreement.

“Sole Certificateholder”:
Any Holder (or Holders, provided they act in unanimity) holding 100% of the then outstanding Certificates (excluding the
Class R and Class LR Certificates) or an assignment of the Voting Rights thereof.

“Special
Notice”: Any (a) notice transmitted to Certificateholders pursuant to Section 5.05(c) of this Agreement and (b)
notice of any request by at least 25% of the Voting

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Rights allocable to the Certificates to terminate and replace the Special Servicer
pursuant to Section 3.22(b) of this Agreement.

“Special
Servicer”: Pacific Life Insurance Company, a Nebraska corporation and a subsidiary of Pacific Mutual Holding Company,
in its capacity as Special Servicer hereunder, its successor in interest (in such capacity), or if any successor Special Servicer
is appointed as herein provided, such successor Special Servicer.

“Special
Servicer Termination Event”: As defined in Section 7.01(b) of this Agreement.

“Special
Servicing Compensation”: With respect to the Whole Loan, any of the Special Servicing Fee, Workout Fee, Liquidation Fee
and any other fees, charges or other amounts which shall be due to the Special Servicer.

“Special
Servicing Fee”: With respect to a Specially Serviced Loan (or REO Loan) for each calendar month (or portion thereof),
the fraction of the Special Servicing Fee Rate applicable to such month, or portion thereof (determined using the same interest
accrual methodology that is applied with respect to the Whole Loan Rate for such Specially Serviced Loan or REO Loan for such month)
multiplied by the Stated Principal Balance of such Specially Serviced Loan as of the Due Date (without giving effect to all payments
of principal on such Specially Serviced Loan or REO Loan on such Due Date) immediately preceding the applicable Distribution Date
(or, in the event that a Principal Prepayment in full or an event described in clauses (i)-(vii) under the definition
of Liquidation Proceeds has occurred with respect to a Specially Serviced Loan or REO Loan on a date that is not a Due Date, on
the basis of the actual number of days to elapse from and including the most recently preceding related Due Date to but excluding
the date of such Principal Prepayment or Liquidation Proceeds event in a month consisting of 30 days). For the avoidance of doubt,
the Special Servicing Fee shall be deemed for tax purposes as paid from the Lower-Tier REMIC.

“Special
Servicing Fee Rate”: A rate equal to 0.2500% per annum.

“Specially
Serviced Loan”: Subject to Section 3.23 of this Agreement, the Whole Loan if:

(a)          a
payment default shall have occurred on the Whole Loan at its Maturity Date or, if the Maturity Date of the Whole Loan has been
extended in accordance with this Agreement, a payment default occurs on the Whole Loan at such extended Maturity Date; provided,
however, that if (A) the Borrower is diligently seeking a refinancing commitment (and delivers a statement to that effect
within 30 days after such default to the Master Servicer, which shall promptly deliver a copy to the Special Servicer), (B) the
Borrower continues to make its Assumed Scheduled Payment, and (C) no other Servicing Transfer Event shall have occurred with respect
to the Whole Loan, a Servicing Transfer Event will not occur until 60 days beyond the Maturity Date, unless extended by the Special
Servicer in accordance with the Loan Documents, this Agreement and the Co-Lender Agreement; and provided, further,
that if the Borrower delivers to the Master Servicer or the Special Servicer, on or before the 60th day after the related Maturity
Date, a refinancing commitment reasonably acceptable to the Special Servicer, and the

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Borrower continues to make its Assumed Scheduled
Payments (and no other Servicing Transfer Event shall have occurred with respect to the Whole Loan), a Servicing Transfer Event
will not occur until the earlier of (1) 120 days beyond the related Maturity Date or extended Maturity Date and (2) the termination
of the refinancing commitment;

(b)          any
Monthly Payment (other than a Balloon Payment) or any amount due on a monthly basis as an Escrow Payment or reserve fund deposit,
is 60 days or more delinquent;

(c)          the
Master Servicer or Special Servicer determines in its reasonable business judgment, exercised in accordance with the Servicing
Standard, that (x) 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 (y) any other default that is likely to impair the use or marketability of the Mortgaged
Property or the value of the Mortgaged Property as security for the Whole Loan is reasonably foreseeable or there is a significant
risk of such default, which monetary or other default, in either case, would likely continue unremedied beyond the applicable grace
period (or, if no grace period is specified, for a period of 60 days) and is not likely to be cured by the Borrower within 60 days
or, except as provided in clause (a) above, in the case of a Balloon Payment, for at least 30 days;

(d)          the
Borrower has become a subject of a decree or order of a court or agency or supervisory authority having jurisdiction in the premises
in an involuntary case under any present or future federal or state bankruptcy, insolvency or similar law, or the appointment of
a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar
proceedings, or for the winding-up or liquidation of its affairs;

(e)          the
Borrower consents to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt, marshaling
of assets and liabilities or similar proceedings of or relating to the Borrower of or relating to all or substantially all of its
property;

(f)          the
Borrower admits in writing its inability to pay its debts generally as they become due, files a petition to take advantage of any
applicable insolvency or reorganization statute, makes an assignment for the benefit of its creditors, or voluntarily suspends
payment of its obligations;

(g)          a
default, of which the Master Servicer or Special Servicer has notice (other than a failure by the Borrower to pay principal or
interest) and which in the opinion of the Master Servicer or Special Servicer materially and adversely affects the interests of
the Certificateholders or any Companion Loan Holder, occurs and remains unremedied for the applicable grace period specified in
the Loan Documents (or if no grace period is specified for those defaults which are capable of cure, 60 days);

(h)          the
Master Servicer or Special Servicer receives notice of the foreclosure or proposed foreclosure of any lien on the Mortgaged Property;
or

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(i)          the
Master Servicer or the Special Servicer receives actual notice that the Borrower has violated any “due-on-sale” or
“due-on-encumbrance” provision in the related Loan Documents;

provided, however,
that the Whole Loan will cease to be a Specially Serviced Loan (a “Corrected Mortgage Loan”) (i) with respect
to the circumstances described in clauses (a) and (b) above, when the Borrower thereunder has brought the Whole Loan
current and thereafter made three consecutive full and timely Monthly Payments, including pursuant to any workout of the Whole
Loan, (ii) with respect to the circumstances described in clauses (c), (d), (e), (f) and (h)
above, when such circumstances cease to exist in the good faith judgment of the Special Servicer, or (iii) with respect to the
circumstances described in clauses (g) and (i) above, when such default is cured (as determined by the Special Servicer
in accordance with the Servicing Standard) or waived by the Special Servicer; provided, in each case, that at that time
no circumstance exists (as described above) that would cause the Whole Loan to continue to be characterized as a Specially Serviced
Loan.

“Startup
Day”: In the case of the Upper-Tier REMIC and Lower-Tier REMIC, the day designated as such pursuant to Section 2.06(a)
of this Agreement.

“Stated Principal
Balance”: With respect to the Trust Loan, a Companion Loan or the Whole Loan, on any date of determination, the principal
balance as of the Cut-off Date of such Trust Loan, Companion Loan or Whole Loan, as reduced (to not less than zero) on each Distribution
Date by (i) all payments (or P&I Advances or Companion Loan Advances in lieu thereof) of, and all other collections allocated
as provided in Section 1.02 of this Agreement to, principal of or with respect to such Trust Loan, Companion Loan or Whole
Loan, as applicable, that are distributed to Certificateholders on such Distribution Date or Companion Loan Holders on the related
remittance date in the same calendar month as such Distribution Date or applied to any other payments required under this Agreement
or the Co-Lender Agreement on or prior to such Distribution Date, and (ii) any principal forgiven by the Special Servicer and other
principal losses realized in respect of such Trust Loan, Companion Loan or Whole Loan during the related Collection Period.

The Trust Loan or
the REO Loan shall be deemed to be part of the Trust Fund and to have an outstanding Stated Principal Balance until the Distribution
Date on which Liquidation Proceeds, if any, are to be (or, if no such Liquidation Proceeds are received, would have been) distributed
to Certificateholders. The Stated Principal Balance of the Whole Loan with respect to which the Master Servicer or Special Servicer
has made a Final Recovery Determination is zero.

“Subcontractor”:
Any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing” is commonly
understood by participants in the mortgage-backed securities market) of Whole Loan but performs one or more discrete functions
identified in Item 1122(d) of Regulation AB with respect to Whole Loan under the direction or authority of the Master Servicer
or a Servicing Function Participant.

“Sub-Servicer”:
Any Person engaged by the Master Servicer or the Special Servicer to perform Servicing with respect to the Whole Loan or REO Loan.

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“Sub-Servicing
Agreement”: The written contract between the Master Servicer or the Special Servicer, on the one hand, and any Sub-Servicer,
on the other hand, relating to servicing and administration of the Whole Loan as provided in Section 3.01(c) of this Agreement.

“Subordinate
Consultation Period”: Any period when both (i) the Certificate Balance of the Class D Certificates (taking into account
the application of any Appraisal Reduction Amounts and Collateral Deficiency Amounts to notionally reduce the Certificate Balance
of such Certificates) is less than 25% of the initial Certificate Balance of the Class D Certificates and (ii) the Certificate
Balance of the Class D Certificates (without regard to the application of any Appraisal Reduction Amounts and Collateral Deficiency
Amounts allocated to the Class D Certificates) is at least 25% of the initial Certificate Balance of the Class D Certificates.
So long as the Majority Controlling Class Certificateholder is a Borrower Related Party, a Subordinate Consultation Period shall
be deemed to be terminated (except for the purposes of determining whether the Directing Holder or a Controlling Class Certificateholder
has the right to appoint the successor special servicer to a Special Servicer that is a Borrower Related Party pursuant to Section
3.22(f)).

“Subordinate
Control Period”: Any period when the Certificate Balance of the Class D Certificates (taking into account the application
of any Appraisal Reduction Amounts and Collateral Deficiency Amounts to notionally reduce the Certificate Balance of such Certificates)
is at least 25% of the initial Certificate Balance of the Class D Certificates; provided that if at any time the Certificate
Balances of the Class A, Class B and Class C Certificates have been reduced to zero as a result of the allocation of principal
payments on the Trust Loan, then a Subordinate Control Period shall be deemed to then be in effect. So long as the Majority Controlling
Class Certificateholder is a Borrower Related Party, a Subordinate Control Period shall be deemed to be terminated (except for
the purposes of determining whether the Directing Holder or a Controlling Class Certificateholder has the right to appoint the
successor special servicer to a Special Servicer that is a Borrower Related Party pursuant to Section 3.22(f)).

“Tax Returns”:
The federal income tax returns on IRS Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return, including
Schedule Q thereto, Quarterly Notice to Residual Interest Holders of REMIC Taxable Income or Net Loss Allocation, or any successor
forms, to be filed by the Certificate Administrator on behalf of each of the Upper-Tier REMIC and the Lower-Tier REMIC due to its
classification as a REMIC under the REMIC Provisions, together with any and all other information, reports or returns that may
be required to be furnished to the Certificateholders or filed with the IRS or any other governmental taxing authority under any
applicable provisions of federal law or Applicable State and Local Tax Law.

“Terminated
Party”: As defined in Section 7.01(c) of this Agreement.

“Terminating
Party”: As defined in Section 7.01(c) of this Agreement.

“Termination
Date”: The Distribution Date on which the Trust Fund is terminated pursuant to Section 9.01 of this Agreement.

“Third Party
Appraiser”: A Person performing an Appraisal.

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“Third Party
Reports”: With respect to the Mortgaged Property, the related Appraisal, Phase I environmental report, Phase II environmental
report, seismic report (if any), engineering report, structural report, property condition report or similar report, if any.

“Transfer”:
Any direct or indirect transfer or other form of assignment of any Ownership Interest in a Class R or Class LR Certificate.

“Transferee
Affidavit”: As defined in Section 5.02(l)(ii) of this Agreement.

“Transferor
Certificate”: As defined in Section 5.02(l)(ii) of this Agreement.

“Trust”
or “Trust Fund”: The corpus of the trust created hereby and to be administered hereunder, consisting of (in
each case, to the extent of the Trust Fund’s interest therein and specifically excluding any interest of the Companion Loan
Holders therein): (i) the Trust Loan, together with the Mortgage File relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Trust Loan due after the Cut-off Date; (iii) any REO Property; (iv) all revenues received in
respect of any REO Property; (v) any indemnities or guaranties given as additional security for the Trust Loan; (vi) a security
interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve Accounts; (vii)
amounts on deposit in the Collection Account attributable to the Trust Loan as identified on the Trust Ledger, the Distribution
Accounts, the Interest Reserve Account or the REO Account, including any reinvestment income, as applicable; (viii) a security
interest in any environmental indemnity agreements relating to the Mortgaged Property; (ix) a security interest in all insurance
policies with respect to the Trust Loan and the Mortgaged Property; (x) the rights and remedies under the Trust Loan Purchase Agreements
relating to document delivery requirements with respect to the Trust Loan and the representations and warranties of the Trust Loan
Sellers regarding the Trust Loan; (xi) the Lower-Tier Regular Interests; and (xii) the proceeds of the foregoing (other than any
interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the
extent such interest belongs to the Borrower).

“Trust Ledger”:
Amounts deposited in the Collection Account attributable to the Whole Loan, which are maintained pursuant to Section 3.06(a)
of this Agreement and held on behalf of the Trustee on behalf of the Certificateholders and the Companion Loan Holders.

“Trust Loan”:
The portion of the Whole Loan evidenced by Notes designated as “Note A-1-EMP-S1”, “Note A-1-EMP-S2”, “Note
A-2-EMP-S1”, “Note A-2-EMP-S2”, “Note A-1-SFC-S1”, “Note A-1-SFC-S2”, “Note A-2-SFC-S1”,
“Note A-2-SFC-S2”, “Note B-1-EMP”, “Note B-2-EMP”, “Note B-1-SFC” and “Note
B-2-SFC” which is transferred and assigned to the Trustee pursuant to Section 2.01 of this Agreement and held in the
Trust Fund. The Trust Loan originally so transferred, assigned and held is identified on the Mortgage Loan Schedule as of the Closing
Date. The term “Trust Loan” also includes an REO Loan, unless the context clearly indicates otherwise.

“Trust Loan
Purchase Agreements”: Each of the GACC Trust Loan Purchase Agreement and the JPMCB Trust Loan Purchase Agreement.

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“Trust Loan
Rate”: With respect to the Trust Loan and any Whole Loan Interest Accrual Period, the weighted average (based on the
outstanding principal balances of the Trust Notes) of the annual rates at which interest accrues on the Trust Notes during such
period (in the absence of a default), as set forth in the related Trust Notes from time to time.

“Trust Loan
Seller Percentage Interest”: As to GACC, a 50.0% interest in the Trust Loan, and as to JPMCB, a 50.0 % interest in the
Trust Loan.

“Trust Loan
Seller Transferred Interests”: (a) In the case of GACC, the portion of the Trust Loan evidenced by Note A-1-EMP-S1, Note
A-1-EMP-S2, Note A-1-SFC-S1, Note A-1-SFC-S2, Note B-1-EMP and Note B-1-SFC and (b) in the case of JPMCB, the portion of the Whole
Loan evidenced by Note A-2-EMP-S1, Note A-2-EMP-S2, Note A-2-SFC-S1, Note A-2-SFC-S2, Note B-2-EMP and Note B-2-SFC.

“Trust Notes”:
Collectively, as of any date of determination, the notes or other evidence of indebtedness and/or agreements evidencing the indebtedness
of the Borrower under the Trust Loan including any amendments or modifications, or any renewal or substitution note, as of such
date. As of the Cut-off Date, Notes designated as “Note A-1-EMP-S1”, “Note A-1-EMP-S2”, “Note A-2-EMP-S1”,
“Note A-2-EMP-S2”, “Note A-1-SFC-S1”, “Note A-1-SFC-S2”, “Note A-2-SFC-S1”, “Note
A-2-SFC-S2”, “Note B-1-EMP”, “Note B-2-EMP”, “Note B-1-SFC” and “Note B-2-SFC”
constitute the Trust Notes.

“Trust Loan
Sellers”: GACC and JPMCB.

“Trust REMICs”:
The Lower-Tier REMIC and the Upper-Tier REMIC.

“Trustee”:
Wilmington Trust, National Association, a national banking association, in its capacity as Trustee, or its successor in interest,
or any successor Trustee appointed as herein provided.

“Trustee/Certificate
Administrator Fee”: With respect to the Trust Loan and for any Distribution Date, an amount per Interest Accrual Period
equal to interest at the Trustee/Certificate Administrator Fee Rate accrued on the Stated Principal Balance of the Trust Loan as
of the Due Date in the related Collection Period (without giving effect to payments of principal on the Trust Loan on such Due
Date). The Trustee/Certificate Administrator Fee shall be calculated in accordance with the provisions of Section 1.02(a)
of this Agreement. A monthly fee shall be paid by the Certificate Administrator to the Trustee as the Trustee’s fee, which
amount shall be paid from the Trustee/Certificate Administrator Fee.

“Trustee/Certificate
Administrator Fee Rate”: A rate equal to 0.0061% per annum.

“Underwriter
Exemption”: The Department of Labor Final Authorization Number 97-03E, and Prohibited Transaction Exemption 2002-19,
each as most recently amended by Prohibited Transaction Exemption 2013-08 and as further amended by the Department of Labor from
time to time.

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“Unscheduled
Payments”: With respect to the Whole Loan and a Collection Period, all Net Liquidation Proceeds, all Net Condemnation
Proceeds and Net Insurance Proceeds payable under the Trust Loan or the Whole Loan, as applicable, the Repurchase Price or purchase
price if the Trust Loan is repurchased or purchased pursuant to Section 2.03(e), Section 3.16 or Section 9.01
of this Agreement or by a mezzanine lender, any indemnification payment made by the Trust Loan Sellers as a result of a Material
Breach or Material Document Defect pursuant to Section 2.03(e) of this Agreement and any other payments under or with respect
to the Trust Loan or the Whole Loan, as applicable, not scheduled to be made, including Principal Prepayments received by the Master
Servicer (but excluding Prepayment Charges, if any) during such Collection Period.

“Updated
Appraisal”: An Appraisal of the Mortgaged Property or REO Property, as the case may be, conducted subsequent to any appraisal
performed on or prior to the Cut-off Date and in accordance with Appraisal Institute standards, the costs of which shall be paid
as a Property Advance by the Master Servicer. Updated Appraisals shall be conducted by an Independent MAI appraiser selected by
the Special Servicer.

“Upper-Tier
Distribution Account”: The segregated non-interest bearing trust account or sub-account created and maintained by the
Certificate Administrator pursuant to Section 3.05(c) of this Agreement, which shall be entitled “Deutsche Bank Trust
Company Americas, as Certificate Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, for the
benefit of the Holders of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates, Upper-Tier Distribution
Account” and which must be an Eligible Account or a sub-account of an Eligible Account. The Upper-Tier Distribution Account
shall be an asset of the Upper-Tier REMIC.

“Upper-Tier
REMIC”: A segregated asset pool within the Trust Fund consisting of the Lower-Tier Regular Interests, the Upper-Tier
Distribution Account and amounts held therein from time to time.

“U.S. Person”:
A citizen or resident of the United States, a corporation, partnership (except to the extent provided in applicable Treasury Regulations),
or other entity 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, 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, certain trusts in existence
on August 20, 1996 that have elected to be treated as U.S. Persons).

“Voting Rights”:
The portion of the voting rights of all of the Certificates that is allocated to any Certificateholder or Class of Certificateholders.
At all times during the term of this Agreement, the percentage of Voting Rights assigned to each Class shall be: (a) 98% to be
allocated among the Certificateholders of the respective Classes of Principal Balance Certificates in proportion to the Certificate
Balances of their Certificates, (b) 2% to be allocated among the Certificateholders of the Class X Certificates for as long as
any of the Class X Certificates are outstanding, and (c) except as otherwise set forth in this Agreement with respect to any particular

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matter, 0%, in the case of the Class R and Class LR Certificates. Voting Rights allocated to a Class of Certificateholders shall
be allocated among such Certificateholders in proportion to the Percentage Interests in such Class evidenced by their respective
Certificates.

“Whole Loan”:
Collectively, the Trust Loan and the Companion Loans. References herein to the Whole Loan shall be construed to refer to the aggregate
indebtedness under the Notes designated as “Note A-1-EMP-C1”, “Note A-1-SFC-C1”, “Note A-1-EMP-C2”,
“Note A-1-SFC-C2”, “Note A-1-EMP-C3”, “Note A-1-SFC-C3”, “Note A-1-EMP-C4” and
“Note A-1-SFC-C4”, “Note A-2-EMP-C1”, “Note A-2-SFC-C1”, “Note A-2-EMP-C2”, “Note
A-2-SFC-C2”, “Note A-2-EMP-C3”, “Note A-2-SFC-C3”, “Note A-2-EMP-C4”, “Note A-2-SFC-C4”,
“Note A-1-EMP-S1”, “Note A-1-EMP-S2”, “Note A-2-EMP-S1”, “Note A-2-EMP-S2”, “Note
A-1-SFC-S1”, “Note A-1-SFC-S2”, “Note A-2-SFC-S1”, “Note A-2-SFC-S2”, “Note B-1-EMP”,
“Note B-2-EMP”, “Note B-1-SFC” and “Note B-2-SFC”.

“Whole Loan
Interest Accrual Period”: With respect to the Whole Loan and any Payment Date, the immediately preceding calendar month.

“Whole Loan
Rate”: With respect to the Whole Loan and any Whole Loan Interest Accrual Period, the weighted average (based on the
outstanding principal balances of the Notes) of the annual rates at which interest accrues on the Notes during such period (in
the absence of a default), as set forth in the Notes from time to time.

“Withheld
Amount”: With respect to the Trust Loan and with respect to each Distribution Date occurring in January of each calendar
year that is not a leap year and February of each calendar year, unless in either case such Distribution Date is the final Distribution
Date, an amount equal to one day’s interest at the Trust Loan Rate (net of any Servicing Fee, Trustee/Certificate Administrator
Fee and the CREFC® License Fee payable therefrom) on the Stated Principal Balance as of the Due Date in the month
preceding the month in which such Distribution Date occurs, to the extent that a Monthly Payment or a P&I Advance is made in
respect thereof.

“Workout
Fee”: An amount equal to 0.50% of each collection of interest and principal (including scheduled payments, prepayments
(provided that a repurchase by the Trust Loan Sellers of their respective Trust Loan Seller Transferred Interest in the
Trust Loan due to a Material Document Defect or a Material Breach shall not be considered a prepayment for purposes of this definition
if the related Trust Loan Seller repurchases the Trust Loan within the resolution time period set forth in Section 2.03(e)
of this Agreement (and giving effect to any applicable extension period beyond the end of the Initial Resolution Period set forth
in Section 2.03(e) of this Agreement)), Balloon Payments and payments at maturity, but excluding late payment charges and
Default Interest) received if the Whole Loan is a Specially Serviced Loan that becomes a Corrected Mortgage Loan for so long as
it remains a Corrected Mortgage Loan, pursuant to Section 3.12(c) of this Agreement; provided, further, that
no Workout Fee shall be payable by the Trust with respect to any Corrected Mortgage Loan if and to the extent that the Corrected
Mortgage Loan became a Specially Serviced Loan under clause (c) of the definition of “Specially Serviced Loan”
and no event of default actually occurs, unless the Whole Loan is modified by the Special Servicer in accordance with the terms
of this Agreement or the Whole Loan subsequently qualifies as a Specially Serviced Loan for a reason other than under clause
(c) of the definition thereof; provided, further that if the Whole Loan becomes a Specially Serviced

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Loan only
because of an event described in clause (a) of the definition of “Specially Serviced Loan” and the related collection
of principal and interest is received within three months following the related maturity date as a result of the Whole Loan
being refinanced or otherwise repaid in full, the Special Servicer shall not be entitled to collect a Workout Fee out of the proceeds
received in connection with such workout if such fee would reduce the amount available for distributions to Certificateholders,
but the Special Servicer may collect from the Borrower and retain (x) a workout fee, (y) such other fees as are provided for in
the Loan Documents and (z) other appropriate fees in connection with such workout. The total amount of Workout Fees payable by
the Trust with respect to the Corrected Mortgage Loan and with respect to any particular workout (assuming, for the purposes of
this calculation, that the Corrected Mortgage Loan continues to perform throughout its term in accordance with the terms of the
related workout) shall be reduced by the amount of any and all Offsetting Modification Fees received by the Special Servicer as
additional servicing compensation relating to the Corrected Mortgage Loan; provided that the Special Servicer shall be entitled
to collect such Workout Fees from the Trust until such time it has been fully paid such reduced amount. For the avoidance of doubt,
the Trust Loan Sellers shall pay a Workout Fee in connection with a repurchase to the extent the Special Servicer was entitled
to such a fee and such fee was unpaid immediately prior to such repurchase or was previously paid by the Trust and was not reimbursed
by the Borrower immediately prior to such repurchase. In furtherance of the foregoing, upon the Specially Serviced Loan becoming
a Corrected Mortgage Loan, the Special Servicer shall provide the Master Servicer with a calculation of the total amount of Workout
Fees expected to be payable by the Trust with respect to the Corrected Mortgage Loan throughout its term (which calculation shall
be reasonably acceptable to the Master Servicer) and the total amount of Offsetting Modification Fees received by the Special Servicer.

     Section 1.02Certain
Calculations. Unless otherwise specified herein, the following provisions shall apply:

     (a)          All
calculations of interest with respect to the Whole Loan (and of Advances in respect thereof) provided for herein shall be made
on Actual/360 Basis. The Servicing Fee, the Trustee/Certificate Administrator Fees and the CREFC® License Fee for
the Trust Loan shall accrue on the same basis as interest accrues on the Whole Loan. The Certificates will accrue interest on a
30/360 basis.

     (b)          Any
Whole Loan payment is deemed to be received on the date such payment is actually received by the Master Servicer or the Certificate
Administrator; provided, however, that for purposes of calculating distributions on the Certificates and Prepayment
Interest Excess, Principal Prepayments with respect to the Whole Loan are deemed to be received on the date they are applied in
accordance with Section 3.01(b) of this Agreement to reduce the Stated Principal Balance of the Whole Loan on which interest
accrues.

     (c)          Except
as otherwise provided in the Loan Documents or the Co-Lender Agreement, any amounts received in respect of the Whole Loan as to
which a default has occurred and is continuing in excess of Monthly Payments shall be applied to Default Interest and other amounts
due on the Whole Loan prior to the application to late fees.

     (d)          Allocations
of payments between the Trust Loan and the related Companion Loans shall be made in accordance with the Co-Lender Agreement.

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     (e)          All
amounts collected by or on behalf of the Trust in respect of the Whole Loan in the form of payments from the Borrower, Liquidation
Proceeds, Condemnation Proceeds or Insurance Proceeds (exclusive of any amounts payable to the Companion Loan Holders pursuant
to the Co-Lender Agreement) shall be allocated to amounts due and owing under the Loan Documents (including for principal and accrued
and unpaid interest) in accordance with the express provisions of the Loan Documents and the Co-Lender Agreement; provided,
however, that absent such express provisions, all such amounts collected (exclusive of any amounts payable to the Companion
Loan Holders pursuant to the Co-Lender Agreement) shall be deemed to be allocated for purposes of collecting amounts due under
the Whole Loan in the following order of priority:

(i)         as
a recovery of any unreimbursed Advances with respect to the Trust Loan or Whole Loan with respect to Property Advances or Nonrecoverable
Advances and unpaid interest at the Advance Rate on such Advances and, if applicable, unreimbursed and unpaid Additional Trust
Fund Expenses with respect to the Whole Loan;

(ii)        as
a recovery of Nonrecoverable Advances and any interest at the Advance Rate thereon to the extent previously allocated to principal
collections with respect to the Trust Loan or Whole Loan, as applicable;

(iii)       to
the extent not previously allocated pursuant to clause (i) above, as a recovery of accrued and unpaid interest on the Trust
Loan (exclusive of Default Interest) to the extent of the excess of (A) accrued and unpaid interest on the Trust Loan at the Trust
Loan Rate to, but not including, the date of receipt by or on behalf of the Trust (or, in the case of a full Monthly Payment from
the Borrower, through the related Due Date), over (B) the sum of (1) the cumulative amount of the reductions (if any) in the amount
of related P&I Advances for the Trust Loan that have theretofore occurred under Section 4.07(e) of this Agreement in
connection with Appraisal Reduction Amounts (to the extent that collections have not been allocated as a recovery of accrued and
unpaid interest pursuant to clause (v) below on earlier dates) and (2) Accrued AB Loan Interest allocable to the Trust Loan;

(iv)       to
the extent not previously allocated pursuant to clause (i) above, as a recovery of principal of the Trust Loan then due
and owing, including by reason of acceleration of the Trust Loan following a default thereunder (or, if the Trust Loan has been
liquidated, as a recovery of principal to the extent of its entire remaining unpaid principal balance);

(v)        as
a recovery of (A) accrued and unpaid interest on the Trust Loan to the extent of the cumulative amount of the reductions (if any)
in the amount of P&I Advances for the Trust Loan that have theretofore occurred under Section 4.07(e) of this Agreement
in connection with related Appraisal Reduction Amounts and (B) Accrued AB Loan Interest (in each of clause (A) and (B),
to the extent that collections have not been allocated as recovery of accrued and unpaid interest pursuant to this clause (v)
on earlier dates);

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(vi)        as
a recovery of amounts to be currently allocated to the payment of, or escrowed for the future payment of, real estate taxes, assessments
and insurance premiums and similar items relating to the Whole Loan (and allocable to the Trust Loan);

(vii)       as
a recovery of any other reserves to the extent then required to be held in escrow with respect to the Whole Loan (and allocable
to the Trust Loan);

(viii)      as
a recovery of any Prepayment Charge then due and owing under the Trust Loan;

(ix)        as
a recovery of any late payment charges and Default Interest then due and owing under the Whole Loan (and allocable to the Trust
Loan);

(x)         as
a recovery of any Assumption Fees, assumption application fees and Modification Fees then due and owing under the Whole Loan (and
allocable to the Trust Loan);

(xi)        as
a recovery of any other amounts then due and owing under the Trust Loan other than remaining unpaid principal; and

(xii)       as
a recovery of any remaining principal of the Trust Loan to the extent of its entire remaining unpaid principal balance;

provided that,
to the extent required under the REMIC Provisions, payments or proceeds received with respect to any partial release of the Mortgaged
Property (including following a condemnation) at a time when the loan-to-value ratio of the Whole Loan exceeds 125% (based solely
on the value of real property and excluding personal property and going concern value) must be allocated to reduce the principal
balance of the Whole Loan in the manner permitted by such REMIC Provisions.

      (f)          Collections
by or on behalf of the Trust in respect of the REO Property (exclusive of amounts to be allocated to the payment of the costs of
operating, managing, leasing, maintaining and disposing of the REO Property and exclusive of any amounts payable to the Companion
Loan Holders pursuant to the Co-Lender Agreement) shall be deemed to be allocated for purposes of collecting amounts due under
the Whole Loan in the following order of priority:

(i)          as
a recovery of any unreimbursed Advances with respect to the Trust Loan or Whole Loan with respect to Property Advances or Nonrecoverable
Advances and unpaid interest at the Advance Rate on such Advances and, if applicable, unreimbursed and unpaid Additional Trust
Fund Expenses with respect to the Whole Loan;

(ii)  
      as a recovery of Nonrecoverable Advances and any interest at the Advance Rate thereon to
the extent previously allocated to principal collections with respect to the Trust Loan or Whole Loan, as applicable;

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(iii)       to
the extent not previously allocated pursuant to clause (i) above, as a recovery of accrued and unpaid interest on the Trust
Loan (exclusive of Default Interest) to the extent of the excess of (A) accrued and unpaid interest on the Trust Loan at the Trust
Loan Rate to, but not including, the Due Date in the Collection Period in which such collections were received, over (B) the sum
of (1) the cumulative amount of the reductions (if any) in the amount of related P&I Advances for the Trust Loan that have
theretofore occurred under Section 4.07(e) of this Agreement in connection with Appraisal Reduction Amounts (to the extent
that collections have not been allocated as a recovery of accrued and unpaid interest pursuant to clause (v) below or Section
1.02(e)(v) on earlier dates) and (2) Accrued AB Loan Interest allocable to the Trust Loan;

(iv)        to
the extent not previously allocated pursuant to clause (i) above, as a recovery of principal of the Trust Loan to the extent
of its entire unpaid principal balance;

(v)          as
a recovery of (A) accrued and unpaid interest on the Trust Loan to the extent of the cumulative amount of the reductions (if any)
in the amount of related P&I Advances for the Trust Loan that have theretofore occurred under Section 4.07(e) of this
Agreement in connection with related Appraisal Reduction Amounts and (B) Accrued AB Loan Interest (in each of clause (A)
and (B), to the extent that collections have not theretofore been allocated as a recovery of accrued and unpaid interest
pursuant to this clause (v) or Section 1.02(e)(v) on earlier dates);

(vi)        as
a recovery of any Prepayment Charge then due and owing under the Trust Loan;

(vii)       as
a recovery of any late payment charges and Default Interest then due and owing under the Whole Loan (and allocable to the Trust
Loan);

(viii)      as
a recovery of any Assumption Fees, assumption application fees and Modification Fees then due and owing under the Whole Loan; and

(ix)        as
a recovery of any other amounts then due and owing under the Trust Loan other than remaining unpaid principal.

     (g)         The
applications of amounts received in respect of the Trust Loan pursuant to paragraph (e) of this Section 1.02 shall be determined
by the Master Servicer in accordance with the Servicing Standard. The applications of amounts received in respect of the Trust
Loan or any REO Property pursuant to paragraph (f) of this Section 1.02 shall be determined by the Special Servicer in accordance
with the Servicing Standard.

     (h)         All
net present value calculations and determinations made hereunder with respect to the Trust Loan or the Mortgaged Property or REO
Property (including for purposes of the definition of “Servicing Standard”) shall be made in accordance with the Loan
Documents or, in the event the related Loan Documents are silent, using the Calculation Rate.

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     Section 1.03Certain
Constructions. For purposes of this Agreement, references to the most or next most subordinate Class of Certificates outstanding
at any time shall mean the most or next most subordinate Class of Certificates then outstanding as among the Class A, Class X-A,
Class B, Class C and Class D Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class LR
and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional
Balance, as applicable, has not been reduced to zero. For purposes of this Agreement, the Class R and Class LR Certificates shall
be outstanding so long as the Trust Fund has not been terminated pursuant to Section 9.01 of this Agreement or any other
Class of Certificates remains outstanding.

ARTICLE
II

CONVEYANCE OF the MORTGAGE LOAN;

ORIGINAL ISSUANCE OF CERTIFICATES

     Section 2.01Conveyance
of the Trust Loan; Assignment of Trust Loan Purchase Agreements. (a) The Depositor, concurrently with the execution and delivery
hereof on the Closing Date, does hereby establish a trust designated as “DBJPM 2016-SFC Mortgage Trust”, appoint the
Trustee as trustee of the Trust Fund and sell, transfer, assign, set over and otherwise convey to the Trustee without recourse
(except to the extent herein provided) all the right, title and interest of the Depositor in and to the Trust Loan, including
all rights to payment in respect thereof, except as set forth below, and any security interest thereunder (whether in real or
personal property and whether tangible or intangible) in favor of the Depositor, and a security interest in all Reserve Accounts,
Lock-Box Accounts, Cash Collateral Accounts and all other assets to the extent included or to be included in the Trust Fund for
the benefit of the Certificateholders. Such transfer and assignment includes all interest and principal due on or with respect
to the Trust Loan after the Cut-off Date. The Depositor, concurrently with the execution and delivery hereof, does also hereby
transfer, assign, set over and otherwise convey to the Trustee without recourse (except to the extent provided herein), for the
benefit of the Certificateholders and the Companion Loan Holders, all the right, title and interest of the Depositor in, to and
under the Trust Loan Purchase Agreements as provided therein (excluding Sections 6(f)-(h) and 9 of the Trust Loan Purchase Agreements,
and excluding the Depositor’s rights and remedies under the GACC Indemnification Agreement and the JPMCB Indemnification
Agreement) to the extent related to the Trust Loan. The Depositor shall cause the Reserve Accounts, Cash Collateral Accounts and
Lock-Box Accounts relating to the Whole Loan to be transferred to and held in the name of the Master Servicer on behalf of the
Trustee as successor to the Trust Loan Sellers.

     In connection with
such transfer and assignment, the Depositor does hereby deliver to, and deposit with, the Custodian, with copies to the Master
Servicer and the Special Servicer, the following documents or instruments with respect to the Whole Loan so assigned (provided,
however, that the original of documents specified in items (xix) and (xx) shall be delivered to the Master Servicer):

(i)          each
original Trust Note, evidencing each Trust Loan Seller’s Trust Loan Seller Transferred Interest in the Trust Loan, bearing,
or accompanied by, all prior or intervening endorsements, endorsed by the most recent endorsee prior to the Trustee or, if

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none,
by the applicable Originator, without recourse, either in blank or to the order of the Trustee in the following form: “Pay
to the order of Wilmington Trust, National Association, not in its individual capacity but solely as Trustee, in trust for the
benefit of the Holders of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates, without recourse”;

(ii)        the
original (or a copy thereof certified from the applicable recording office) of the Mortgage and, if applicable, the originals (or
copies thereof certified from the applicable recording office) of any intervening assignments thereof showing a complete chain
of assignment from the Originators of the Whole Loan to the most recent assignee of record thereof prior to the Trustee, if any,
in each case with evidence of recording indicated thereon;

(iii)       an
original Assignment of Mortgage, in recordable form, executed by the most recent assignee of record thereof prior to the Trustee
or, if none, by the Originators, either in blank or in favor of the Trustee (in such capacity, for the benefit of the Certificateholders
and the Companion Loan Holders);

(iv)        (A)
an original or copy of any related security agreement (if such item is a document separate from the Mortgage) and, if applicable,
the originals or copies of any intervening assignments thereof showing a complete chain of assignment from the Originators of the
Whole Loan to the most recent assignee thereof prior to the Trustee, if any; and (B) an original assignment of any related security
agreement (if such item is a document separate from the Mortgage) executed by the most recent assignee thereof prior to the Trustee
or, if none, by the Originators, either in blank or in favor of the Trustee (in such capacity, for the benefit of the Certificateholders
and the Companion Loan Holders), which assignment may be included as part of the corresponding Assignment of Mortgage referred
to in clause (iii) above;

(v)          (A)
stamped or certified copies of any UCC financing statements and continuation statements which were filed in order to perfect (and
maintain the perfection of) any security interest held by the Originators of the Whole Loan (and each assignee of record prior
to the Trustee) in and to the personalty of the Borrower at the Mortgaged Property (in each case with evidence of filing or recording
thereon) and which were in the possession of the Trust Loan Sellers (or their agents) at the time the Mortgage Files were delivered
to the Custodian, together with original UCC-2 or UCC-3 assignment of financing statements showing a complete chain of assignment
from the secured party named in such UCC-1 financing statement to the most recent assignee of record thereof prior to the Trustee,
if any, and (B) if any such security interest is perfected and the earlier UCC financing statements and continuation statements
were in the possession of the Trust Loan Sellers, an assignment of UCC financing statement by the most recent assignee of record
prior to the Trustee or, if none, by the Originators, evidencing the transfer of such security interest, either in blank or in
favor of the Trustee (in such capacity, for the benefit of the Certificateholders and the Companion Loan Holders); provided
that other evidence of filing or recording reasonably acceptable to the Trustee may be delivered in lieu of delivering such UCC
financing statements including, without limitation, evidence of such filed or recorded UCC financing statement as shown on a written
UCC search report from a reputable search firm, such as CSC/LexisNexis

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Document Solutions, Corporation Service Company, CT Corporation
System and the like or printouts of on-line confirmations from such UCC filing or recording offices or authorized agents thereof;

(vi)        the
original or a copy of the Loan Agreement relating to the Whole Loan;

(vii)       the
original or a copy of the lender’s title insurance policy issued in connection with the origination of the Whole Loan, together
with all endorsements or riders (or copies thereof) that were issued with or subsequent to the issuance of such policy, insuring
the priority of the Whole Loan as a first lien on the Mortgaged Property, or, subject to Section 2(d) of the Trust Loan Purchase
Agreements, a “marked up” commitment to insure marked as binding and countersigned by the related insurer or its authorized
agent (which may be a pro forma or specimen title insurance policy which has been accepted or approved as binding in writing
by the related title insurance company), or, subject to Section 2(d) of the Trust Loan Purchase Agreements, an agreement to provide
the same pursuant to binding escrow instructions executed by an authorized representative of the title company;

(viii)      (A)
the original or a copy of the related Assignment of Leases and Rents (if such item is a document separate from the Mortgage) and,
if applicable, the originals or copies of any intervening assignments thereof showing a complete chain of assignment from the Originators
of the Whole Loan to the most recent assignee of record thereof prior to the Trustee, if any, in each case with evidence of recording
thereon; and (B) an original or copy of an assignment of any related Assignment of Leases and Rents (a “Reassignment of
Assignment of Leases and Rents”) (if such item is a document separate from the Mortgage), in recordable form (except
for missing recording information and, if delivered in blank, except for the name of the assignee), executed by the most recent
assignee of record thereof prior to the Trustee or, if none, by the Originator, either in blank or in favor of the Trustee in the
following form: “Wilmington Trust, National Association, not in its individual capacity but solely as Trustee, for the benefit
of the Holders of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates” (in such capacity and on behalf
of the Companion Loan Holders), which assignment may be included as part of the corresponding Assignment of Mortgage referred to
in clause (iii) above;

(ix)        the
original or a copy of any environmental indemnity agreements and copies of any environmental insurance policies pertaining to the
Mortgaged Property required in connection with origination of the Whole Loan, if any, and copies of Environmental Reports;

(x)         an
original or a copy of the Assignment of Management Agreement and originals or copies of the currently effective Management Agreement,
if any, for the Mortgaged Property;

(xi)        the
original or copy of the ground lease, if applicable, and any related lessor estoppel or similar agreement or a copy thereof, if
any;

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(xii)   
    an original Assignment of Agreements, Licenses, Permits and Contracts, executed by the most recent
assignee of record thereof prior to the Trustee or, if none, by the Originators, either in blank or in favor of the Trustee
(in such capacity, for the benefit of the Certificateholders and the Companion Loan Holders);

(xiii)  
    if the related assignment of contracts is separate from the Mortgage, the original executed version
of such assignment of contracts or a copy thereof and the assignment thereof to the Trustee (in such capacity, for the
benefit of the Certificateholders and the Companion Loan Holders);

(xiv)       if
any related Lock-Box Agreement or Cash Collateral Account Agreement is separate from the Mortgage or Loan Agreement, a copy thereof;
with respect to the Reserve Accounts, Cash Collateral Accounts and Lock-Box Accounts, if any, a copy of the UCC-1 financing statements,
if any, submitted for filing with respect to the related mortgagee’s security interest in the Reserve Accounts, Cash Collateral
Accounts and Lock-Box Accounts and all funds contained therein (and UCC-3 assignments of financing statements assigning such UCC-1
financing statements to the Trustee (in such capacity, for the benefit of the Certificateholders and the Companion Loan Holders));

(xv)        originals
or copies of all assumption, modification, written assurance and substitution agreements, with evidence of recording thereon if
appropriate, in those instances where the terms or provisions of the Mortgage, Trust Notes or any related security document have
been modified or the Whole Loan has been assumed;

(xvi)       the
original or a copy of any guaranty of the obligations of the Borrower under the Whole Loan together with, as applicable, (A) the
original or copies of any intervening assignments of such guaranty showing a complete chain of assignment from the Originators
of the Whole Loan to the most recent assignee thereof prior to the Trustee, if any, and (B) an original assignment of such guaranty
executed by the most recent assignee thereof prior to the Trustee or, if none, by the Originators;

(xvii)      [Reserved];

(xviii)     [Reserved];

(xix)       the
original (or copy, if the original is held by the Master Servicer pursuant to Section 2.01(c)) of any letter of credit held
by the lender as beneficiary or assigned as security for the Whole Loan;

(xx)        the
appropriate assignment or amendment documentation related to the assignment to the Trust of any letter of credit securing the Whole
Loan (or copy thereof, if the original is held by the Master Servicer pursuant to Section 2.01(c)) which entitles the Master
Servicer on behalf of the Trust and, with respect to the Whole Loan, the Companion Loan Holders, to draw thereon;

(xxi)       an
original or a copy of the Cash Management Agreement; and

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(xxii)      with
respect to the Whole Loan, a copy of the Co-Lender Agreement and, if applicable, a copy of the related Other Pooling and Servicing
Agreement;

provided that whenever
the term “Mortgage File” is used to refer to documents actually received by the Depositor or the Custodian, such term
shall not be deemed to include such documents and instruments required to be included therein unless they are actually so received.
The original assignments referred to in clauses (iii), (iv)(B) and (xvi)(B) above, may be in the form of one
or more instruments in recordable form in any applicable filing or recording offices.

     On or prior to the
Closing Date, the Trust Loan Sellers shall retain a third party vendor (which may be the Trustee or the Custodian) to complete
the assignment and recordation or filing of the Loan Documents in the name of the Trustee on behalf of the Certificateholders and
the Companion Loan Holders. On or promptly following the Closing Date, the Trust Loan Sellers shall (A) promptly deliver or cause
to be delivered to such third party vendor recorded copies of the Mortgage and the documents described in Section 2.01(a)(iii),
(v) and (xiv) and (B) cause such third party vendor, at the expense of the Trust Loan Sellers (in proportion to its
Trust Loan Seller Percentage Interest in the Trust Loan), (1) to promptly prepare and record (in favor of the Trustee, in trust
for the Holders of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates) in the appropriate public recording
office in no event later than thirty (30) Business Days following the receipt thereof, each Assignment of Mortgage referred to
in Section 2.01(a)(iii) which has not yet been submitted for recording; and (2) to prepare and file in the appropriate public
filing office each UCC assignment of financing statement referred to in Section 2.01(a)(v)(B) and (xiv)(B) which
has not yet been submitted for filing or recording in no event later than 60 days following the receipt thereof. Each such document
shall reflect that the recorded original should be returned by the public recording office to the Custodian or its designee following
recording, and each such document shall reflect that the file copy thereof should be returned to the Custodian or its designee
following filing; provided that in those instances where the public recording office retains the original Assignment of
Mortgage or Assignment of Leases and Rents, if applicable, the Custodian shall use commercially reasonable efforts to obtain therefrom
a certified copy of the recorded original, at the expense of the Depositor. In the event that any such document or instrument in
respect of the Whole Loan is lost or returned unrecorded or unfiled, as the case may be, because of a defect therein, the Trust
Loan Sellers shall promptly prepare or cause the preparation of a substitute thereof or cure or cause the curing of such defect,
as the case may be, and shall thereafter deliver the substitute or corrected document to or at the direction of the Custodian for
recording or filing, as appropriate, at the expense of the Trust Loan Sellers (as set forth in the Trust Loan Purchase Agreements).
The Trust Loan Sellers shall, promptly upon receipt of the original recorded or filed copy (and in no event later than five (5)
Business Days following such receipt) deliver such original to the Custodian, with evidence of filing or recording thereon. Notwithstanding
anything to the contrary contained in this Section 2.01, in those instances where the public recording office retains the
original Mortgage, Assignment of Mortgage or Assignment of Leases and Rents, if applicable, after any has been recorded, the obligations
of the Trust Loan Sellers under the Trust Loan Purchase Agreements shall be deemed to have been satisfied upon delivery to the
Custodian of a certified copy of the recorded original of such Mortgage, Assignment of Mortgage or Assignment of Leases and Rents,
if applicable.

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     If the Trust Loan
Sellers cannot deliver, or cause to be delivered, as to the Whole Loan, the original or a copy of the related lender’s title
insurance policy referred to in Section 2.01(a)(vii) solely because such policy has not yet been issued, the delivery requirements
of this Section 2.01 will be deemed to be satisfied as to such missing item, and such missing item will be deemed to have
been included in the Mortgage File by delivery to the Custodian of a binder marked as binding and countersigned by the title insurer
or its authorized agent (which may be a pro forma or specimen title insurance policy which has been accepted or approved
as binding in writing by the related title insurance company) or an acknowledged closing instruction or escrow letter, and the
Trust Loan Sellers shall be required to deliver to the Custodian, promptly following the receipt thereof, the original related
lender’s title insurance policy (or a copy thereof). Copies of recorded or filed Assignments of Mortgage and UCC assignments
of financing statements shall be held by the Custodian.

     Subject to the third
preceding paragraph, all original documents relating to the Whole Loan which are not delivered to the Custodian are and shall be
held by the Depositor or the Master Servicer (or a Sub-Servicer on its behalf), as the case may be, for the benefit of the Certificateholders
and the Companion Loan Holders. In the event that any such original document is required pursuant to the terms of this Section
to be a part of the Mortgage File in order to effectuate the purposes of this Agreement, such document shall be delivered promptly
to the Custodian.

     (b)          In
connection with the Depositor’s assignment pursuant to subsection (a) above, the Depositor shall direct, and hereby
represents and warrants that it has directed, the Trust Loan Sellers pursuant to the Trust Loan Purchase Agreements to deliver
to and deposit with or cause to be delivered to and deposited with, (i) the Custodian, on or before the Closing Date, for the Trust
Loan so assigned, among other things, the original Trust Notes, the original or a copy of the Mortgage and any intervening assignments
thereof, the original or a copy of the title policy for the Mortgage Loan, a copy of any ground lease, if applicable, for the Mortgage
Loan and an original (or copy, if the original is held by the Master Servicer pursuant to Section 2.01(c)) of any letters of credit
held by the lender as beneficiary or assigned as security for the Mortgage Loan, and, within 30 days following the Closing Date,
the remaining applicable documents referred to in Section 2.01(a) for the Whole Loan, in each case with copies to the Master
Servicer and (ii) the Master Servicer, on or before the Closing Date, all documents and records that are part of each applicable
Servicing File. If the Trust Loan Sellers cannot deliver, or cause to be delivered, as to the Trust Loan, the original Trust Note,
the Trust Loan Sellers shall deliver a copy or duplicate original of the Trust Note, together with an affidavit certifying that
the original thereof has been lost or destroyed and an indemnification in favor of the Certificate Administrator, the Trustee and
the Custodian.

     If the Trust Loan
Sellers or the Depositor cannot deliver, or cause to be delivered, as to the Whole Loan, the original or a copy of any of the documents
and/or instruments referred to in Section 2.01(a)(ii), Section 2.01(a)(v)(A), Section 2.01(a)(viii), Section
2.01(a)(xv) and Section 2.01(a)(xvii) and the UCC financing statements and UCC assignments of financing statements referred
to in Section 2.01(a)(xiv), with evidence of recording or filing thereon, solely because of a delay caused by the public
recording or filing office where such document or instrument has been delivered for recordation or filing, or because such original
recorded or filed document has been lost or returned from the recording or filing office and subsequently lost, as

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the case may
be, the delivery requirements of Section 2.01 shall be deemed to have been satisfied as to such missing item, and such missing
item shall be deemed to have been included in the Mortgage File, provided that a copy of such document or instrument (without
evidence of recording or filing thereon, but certified (which certificate may relate to multiple documents and/or instruments)
by the applicable public recording or filing office, the applicable title insurance company or the Trust Loan Sellers to be a true
and complete copy of the original thereof submitted for recording or filing, as the case may be) has been delivered to the Custodian
within 30 days after the Closing Date, and either the original of such missing document or instrument, or a copy thereof, with
evidence of recording or filing, as the case may be, thereon, is delivered to the Custodian within 180 days after the Closing Date
(or within such longer period after the Closing Date so long as the Trust Loan Sellers have provided the Custodian with evidence
of such recording or filing, as the case may be, or has certified to the Custodian as to the occurrence of such recording or filing,
as the case may be, and is, as certified to the Custodian and the Trustee no less often than quarterly, in good faith attempting
to obtain from the appropriate county recorder’s or filing office such original or copy, provided such extensions
do not exceed 24 months in the aggregate).

     (c)          Notwithstanding
anything herein to the contrary, with respect to the documents referred to in Section 2.01(a)(xix) and Section 2.01(a)(xx)
of this Agreement, the Master Servicer shall hold the original of each such document in trust on behalf of the Trust in order to
draw on such letter of credit on behalf of the Trust and the Trust Loan Sellers shall be deemed to have satisfied the delivery
requirements of their respective Trust Loan Purchase Agreement and this Section 2.01 of this Agreement by delivering the
original of each such document to the Master Servicer, which shall forward a copy of the applicable document to the Custodian.
The Trust Loan Sellers shall pay any costs of assignment or amendment of such letter of credit (which amendment shall change the
beneficiary of the letter of credit to the Trust in care of the Master Servicer) required in order for the Master Servicer to draw
on such letter of credit on behalf of the Trust. In the event that the documents specified in clause (a)(xx) of Section
2.01(a) of this Agreement are missing because the related assignment or amendment documents have not been completed, the Trust
Loan Sellers shall take all necessary steps to enable the Master Servicer to draw on the related letter of credit on behalf of
the Trust including, if necessary, drawing on the letter of credit in its own name pursuant to written instructions from the Master
Servicer and immediately remitting such funds (or causing such funds to be remitted) to the Master Servicer.

     Section 2.02Acceptance
by Custodian and the Trustee. By its execution and delivery of this Agreement, the Trustee acknowledges the assignment to
it of the Trust Loan in good faith without notice of adverse claims and declares that the Custodian holds and will hold such documents
and all others delivered to it constituting the Mortgage File (to the extent the documents constituting the Mortgage File are
actually delivered to the Custodian) for the Trust Loan assigned to the Trustee hereunder in trust, upon the conditions herein
set forth, for the use and benefit of all present and future Certificateholders and Companion Loan Holders.

     The Custodian hereby
certifies to each of the Depositor, the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer and the
Trust Loan Sellers that except as identified in the Custodian’s closing date certification, which shall be delivered no later
than two (2) Business Days after the Closing Date, and which is attached as Exhibit N-1 to

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this Agreement, each Trust Note
is in its possession and has been reviewed by the Custodian and (A) appears regular on its face (handwritten additions, changes
or corrections shall not constitute irregularities if initialed by the Borrower), (B) appears to have been executed (where appropriate)
and (C) purports to relate to the Whole Loan and each of the documents specified in Section 2.01(a)(ii), Section 2.01(a)(vii)
and, to the extent delivered, Section 2.01(a)(xix) of this Agreement have been received, have been executed, appear to be
what they purport to be, purport to be recorded or filed (as applicable) and have not been torn or mutilated or otherwise defaced,
and that such documents relate to the Whole Loan identified in the Mortgage Loan Schedule. If the Custodian does not send a certification
on the Closing Date, it shall send an email confirmation to the Trustee and the Master Servicer on the Closing Date that it has
received the Trust Note (or a copy or a lost note affidavit, as permitted), subject to any exceptions noted therein.

     On or about the 60th
day following the Closing Date (and, if any exceptions are noted, again on or about the 90th day following the Closing
Date and monthly thereafter until the earliest of (i) the second anniversary of the Closing Date, (ii) the day on which all material
exceptions have been removed and (iii) the day on which the Trust Loan Sellers have repurchased for the Trust Loan), the Custodian
shall review each Mortgage File and shall certify to each of the Depositor, the Certificate Administrator, the Trustee, the Master
Servicer, the Special Servicer and the Trust Loan Sellers in the form attached as Exhibit N-2 to this Agreement that all
documents (other than documents referred to in clauses Section 2.01(a)(xix) and Section 2.01(a)(xx) of this Agreement,
which shall be delivered to the Master Servicer and the documents referred to in clauses (iii), (v)(B) and
(viii) of Section 2.01(a) of this Agreement and the assignments of financing statements referred to in clause
(xiv) of Section 2.01(a) of this Agreement, which shall be delivered for filing or recording by the Trust Loan Sellers
as provided herein) referred to in Section 2.01(a) above (in the case of the documents referred to in Section 2.01(a)(iv),
(v), (vi), (vii) (in the case of any endorsement thereto), (viii) and (ix) through (xxi)
of this Agreement, as identified to it in writing as a document required to be delivered by the Trust Loan Sellers) and any original
recorded documents included in the delivery of the Mortgage File has been received, has been executed, appear to be what they purport
to be, purport to be recorded or filed (as applicable) and has not been torn in any materially adverse manner or mutilated or otherwise
defaced, and that such documents relate to the Whole Loan. In so doing, the Custodian may rely on the purported due execution and
genuineness of any such document and on the purported genuineness of any signature thereon.

     If at the conclusion
of such review any document or documents constituting a part of the Mortgage File has not been executed or received, has not been
recorded or filed (if required), is unrelated to the Whole Loan, appear not to be what they purport to be or has been torn in any
materially adverse manner or mutilated or otherwise defaced, the Custodian shall promptly so notify (in the form attached as Exhibit
M to this Agreement) the Trustee, the Depositor, the Certificate Administrator, the Master Servicer, the Special Servicer and
the Trust Loan Sellers by providing a written report, setting forth for the affected Whole Loan, with particularity, the nature
of the defective or missing document. The Depositor shall or shall cause the Trust Loan Sellers to deliver to the Custodian an
executed, recorded or undamaged document, as applicable, or, if the failure to deliver such document in such form constitutes a
Material Document Defect, the Depositor shall cause the Trust Loan Sellers to cure, repurchase or make an indemnification payment
with respect to the Whole Loan in the manner provided in

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Section 2.03(e) of this Agreement. None of the Master Servicer,
the Special Servicer, the Certificate Administrator, the Custodian or the Trustee shall be responsible for any loss, cost, damage
or expense to the Trust Fund resulting from any failure to receive any document constituting a portion of the Mortgage File noted
on such a report or for any failure by the Depositor to use its best efforts to deliver any such document.

     Contemporaneously
with its execution of this Agreement, the Depositor shall cause each Trust Loan Seller to deliver, a power of attorney substantially
in the form of Exhibit C to the Trust Loan Purchase Agreements to the Master Servicer and Special Servicer, to take such
other action as is necessary to effect the delivery, assignment and/or recordation of any documents and/or instruments relating
to the Whole Loan which has not been delivered, assigned or recorded at the time required for enforcement by the Trust Fund. Pursuant
to each Trust Loan Purchase Agreement, the related Trust Loan Seller shall be required to effect (at the expense of the related
Trust Loan Seller) the assignment and recordation of its the Loan Documents until the assignment and recordation of all Loan Documents
has been completed.

     In reviewing any Mortgage
File pursuant to the third preceding paragraph of Section 2.01 of this Agreement, the Master Servicer shall have no responsibility
to cause the Custodian or Trustee to, and the Custodian or Trustee will have no responsibility to, examine any opinions or determine
whether any document is legal, valid, binding, sufficient, duly authorized or enforceable, whether the text of any assignment or
endorsement is in proper or recordable form (except, if applicable, to determine if the Trustee is the assignee or endorsee), whether
any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment
is permitted in any applicable jurisdiction, or whether any Person executing any document or rendering any opinion is authorized
to do so or whether any signature thereon is genuine.

     Section 2.03Representations,
Warranties and Covenants of the Depositor; Repurchase of Trust Loan. (a) The Depositor hereby represents and warrants that:

(i)          The
Depositor is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware;

(ii)        The
Depositor has taken all necessary action to authorize the execution, delivery and performance of this Agreement by it, and has
the power and authority to execute, deliver and perform this Agreement and all the transactions contemplated hereby, including,
but not limited to, the power and authority to sell, assign and transfer the Trust Loan in accordance with this Agreement;

(iii)       This
Agreement has been duly and validly executed and delivered by the Depositor and assuming the due authorization, execution and delivery
of this Agreement by each other party hereto, this Agreement and all of the obligations of the Depositor hereunder are the legal,
valid and binding obligations of the Depositor, enforceable in accordance with the terms of this Agreement, except as such enforcement
may be limited by bankruptcy, insolvency, reorganization, liquidation, receivership, moratorium or other laws relating to or affecting
creditors’ rights generally, or by general principles of equity (regardless of whether such enforceability is considered
in a proceeding in equity or at law);

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(iv)        The
execution and delivery of this Agreement and the performance of its obligations hereunder by the Depositor will not conflict with
any provision of its certificate of incorporation or bylaws, or any law or regulation to which the Depositor is subject, or conflict
with, result in a breach of or constitute a default under (or an event which with notice or lapse of time or both would constitute
a default under) any of the terms, conditions or provisions of any agreement or instrument to which the Depositor is a party or
by which it is bound, or any law, order or decree applicable to the Depositor, or result in the creation or imposition of any lien
on any of the Depositor’s assets or property, which would materially and adversely affect the ability of the Depositor to
carry out the transactions contemplated by this Agreement;

(v)          The
certificate of incorporation of the Depositor provides that the Depositor is permitted to engage in only the following activities:

(A)         to
acquire, own, hold, sell, transfer, assign, pledge and otherwise deal with the following: (I) “fully-modified pass-through”
certificates (“GNMA Certificates”) issued and guaranteed as to timely payment of principal and interest by the
Government National Mortgage Association (“GNMA”), a wholly-owned corporate instrumentality of the United States
within the Department of Housing and Urban Development organized and existing under Title III of the National Housing Act of 1934;
(II) Guaranteed Mortgage Pass-Through Certificates (“FNMA Certificates”) issued and guaranteed as to timely
payment of principal and interest by FNMA; (III) Mortgage Participation Certificates (“FHLMC Certificates”)
issued and guaranteed as to timely payment of interest and ultimate or full payment of principal by FHLMC; (IV) any other participation
certificates, pass-through certificates or other obligations or interests backed directly or indirectly by mortgage loans and issued
or guaranteed by GNMA, FNMA or FHLMC (collectively with the GNMA Certificates, FNMA Certificates and FHLMC Certificates, the “Agency
Securities”); (V) mortgage-backed securities, which securities need not be issued or guaranteed, in whole or in part,
by any governmental entity, issued by one or more private entities (hereinafter referred to as “Private Securities”);
(VI) mortgage loans secured by first, second or more junior liens on one-to-four family residential properties, multifamily properties
that are either rental apartment buildings or projects containing five or more residential units or commercial properties, regardless
of whether insured or guaranteed in whole or in part by any governmental entity, or participation interests or stripped interests
in such mortgage loans (“Mortgage Assets”); (VII) conditional sales contracts and installment sales or loan
agreements or participation interests therein secured by manufactured housing (“Contract”); and (VIII) receivables
of third-parties or other financial assets of third-parties, either fixed or revolving, that by their terms convert into cash within
a finite time period (“Other Assets”);

(B)          to
loan its funds to any person under loan agreements and other arrangements which are secured by Agency Securities, Private Securities,
Mortgage Assets, Contracts and/or Other Assets;

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(C)          to
authorize, issue, sell and deliver bonds or other evidences of indebtedness that are secured by Agency Securities, Private Securities,
Mortgage Assets, Contracts and/or Other Assets;

(D)          to
authorize, issue, sell and deliver certificates evidencing beneficial ownership interests in pools of Agency Securities, Private
Securities, Mortgage Assets, Contracts and/or Other Assets; and

(E)          to
engage in any activity and to exercise any powers permitted to corporations under the laws of the State of Delaware that are incident
to the foregoing and necessary or convenient to accomplish the foregoing.

Capitalized terms defined in this
clause (v) shall apply only to such clause;

(vi)        There
is no action, suit, proceeding or investigation pending or threatened against the Depositor in any court or by or before any other
governmental agency or instrumentality which would materially and adversely affect the ability of the Depositor to carry out its
obligations under this Agreement;

(vii)       No
consent, approval, authorization or order of, or registration or filing with, or notice to any court or governmental agency or
body, is required for the execution, delivery and performance by the Depositor of or compliance by the Depositor with this Agreement,
or if required, such approval has been obtained prior to the Cut-off Date; and

(viii)      The
Trustee, if not the owner of the Trust Loan, will have a valid and perfected security interest of first priority in the Trust Loan
and any proceeds thereof.

      (b)         The
Depositor hereby represents and warrants with respect to the Trust Loan that:

(i)          Immediately
prior to the transfer and assignment to the Trustee, the Trust Note and the Mortgage were not subject to an assignment or pledge,
and the Depositor had good title to, and was the sole owner of, the Trust Loan and had full right to transfer and sell the Trust
Loan to the Trustee free and clear of any encumbrance, equity, lien, pledge, charge, claim or security interest;

(ii)        The
Depositor is transferring the Trust Loan free and clear of any and all liens, pledges, charges or security interests of any nature
encumbering the Trust Loan;

(iii)       The
related Assignment of Mortgage constitutes the legal, valid and binding assignment of the Mortgage from the Depositor to the Trustee;
and

(iv)        No
claims have been made by the Depositor under the lender’s title insurance policy, and the Depositor has not done anything
which would impair the coverage of such lender’s title insurance policy.

      (c)         It
is understood and agreed that the representations and warranties set forth in this Section 2.03 shall survive delivery of
the Mortgage File to the Custodian until the

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termination of this Agreement, and shall inure to the benefit of the Certificateholders,
the Companion Loan Holders, the Certificate Administrator, the Trustee, the Custodian, the Master Servicer and the Special Servicer.

(d)          If
the Master Servicer or the Special Servicer (i) receives a Repurchase Communication of a request or demand for repurchase or replacement
of the Trust Loan because of a Breach or a Defect (each as defined below) (any such request or demand, a “Repurchase Request”,
and the Master Servicer or the Special Servicer, as applicable, to the extent it receives a Repurchase Request, the “Repurchase
Request Recipient” with respect to such Repurchase Request), (ii) receives a Repurchase Communication of a withdrawal
of a Repurchase Request by the Person making such Repurchase Request (a “Repurchase Request Withdrawal”), (iii)
receives a Repurchase Communication that the Trust Loan Seller Transferred Interest of the Trust Loan that was subject to a Repurchase
Request has been repurchased or replaced (a “Repurchase”), or (iv) receives a Repurchase Communication of the
rejection of a Repurchase Request (a “Repurchase Request Rejection”), then such Person shall deliver written
notice of such Repurchase Request, Repurchase Request Withdrawal, Repurchase or Repurchase Request Rejection (each such notice,
a “Rule 15Ga-1 Notice”) to the Depositor and the related Trust Loan Seller, in each case within ten (10) Business
Days from such party’s receipt of a Repurchase Communication of such Repurchase Request, Repurchase Request Withdrawal, Repurchase
or Repurchase Request Rejection, as applicable; provided, however, that if the Master Servicer receives notice of
a Repurchase Request Withdrawal or Repurchase Request Rejection from the Special Servicer, the Master Servicer shall have no obligation
to deliver such notice to any other party.

Each Rule 15Ga-1 Notice
shall include (i) the identity of the Trust Loan, (ii) the date the Repurchase Communication of the Repurchase Request, Repurchase
Request Withdrawal, Repurchase or Repurchase Request Rejection, as applicable, was received and (iii) in the case of a Repurchase
Request, (A) the identity of the Person making such Repurchase Request, (B) if known, the basis for the Repurchase Request (as
asserted in the Repurchase Request) and (C) a statement from the Repurchase Request Recipient as to whether it currently plans
to pursue such Repurchase Request.

No Person that is
required to provide a Rule 15Ga-1 Notice pursuant to this Section 2.03(d) (a “Rule 15Ga-1 Notice Provider”)
shall be required to provide any information in a Rule 15Ga-1 Notice protected by the attorney-client privilege or attorney work
product doctrines. Each Trust Loan Purchase Agreement will provide that (i) any Rule 15Ga-1 Notice provided pursuant to this Section
2.03(d) is so provided only to assist the related Trust Loan Seller, the Depositor and its Affiliates to comply with Rule 15Ga-1
under the Exchange Act, Items 1104 and 1121 of Regulation AB and any other requirement of law or regulation and (ii) (A) no action
taken by, or inaction of, a Rule 15Ga-1 Notice Provider and (B) no information provided pursuant to this Section 2.03(d)
by a Rule 15Ga-1 Notice Provider, shall be deemed to constitute a waiver or defense to the exercise of any legal right the Rule
15Ga-1 Notice Provider may have with respect to the related Trust Loan Purchase Agreement, including with respect to any Repurchase
Request that is the subject of a Rule 15Ga-1 Notice.

In the event that
the Depositor, the Trustee, the Certificate Administrator or the Custodian receives a Repurchase Communication of a Repurchase
Request or a Repurchase Request Withdrawal, then such party shall promptly forward such Repurchase Communication

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of such Repurchase
Request or Repurchase Request Withdrawal to the Master Servicer, if relating to a Performing Loan, or to the Special Servicer,
if relating to a Specially Serviced Loan or REO Property, and include the following statement in the related correspondence: “This
is a “[Repurchase Request][Repurchase Request Withdrawal]” under Section 2.03(d) of the Trust and Servicing Agreement
relating to the DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates requiring action by you as the recipient
of such Repurchase Request or Repurchase Request Withdrawal thereunder”. Upon receipt of such Repurchase Communication of
such Repurchase Request or Repurchase Request Withdrawal by the Master Servicer or the Special Servicer, as applicable, such party
shall be deemed to be the Repurchase Request Recipient of such Repurchase Communication of such Repurchase Request or Repurchase
Request Withdrawal, and such party shall comply with the procedures set forth in this Section 2.03(d) with respect to such
Repurchase Request or Repurchase Request Withdrawal. In no event shall the Custodian, by virtue of this provision, be required
to provide any notice other than as set forth in Section 2.02 of this Agreement in connection with its review of the Mortgage
File.

(e)          A
“Defect” shall exist with respect to the Trust Loan if any document constituting a part of the Mortgage File
has not been delivered within the time periods provided for in each Trust Loan Purchase Agreement, has not been properly executed,
is missing, does not appear to be regular on its face or contains information that does not conform in any material respect with
the corresponding information set forth in the Mortgage Loan Schedule. A “Breach” shall mean a breach of any
representation or warranty of a Trust Loan Seller made pursuant to the related Trust Loan Purchase Agreement with respect to the
Trust Loan. If any party hereto discovers or receives notice of a Defect or a Breach, and if such Defect is a Material Document
Defect or such Breach is a Material Breach, as applicable, then such party, on behalf of the Trust Fund, shall upon its actual
knowledge thereof notify the Trust Loan Sellers, the other parties hereto and the 17g-5 Information Provider (who shall promptly
post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement) and the
Companion Loan Holders. If any such Defect or Breach materially and adversely affects the value of the Trust Loan, the value of
the Mortgaged Property or the interests of the Trust in the Trust Loan hereunder or causes the Trust Loan to be other than a Qualified
Mortgage, then such Defect shall constitute a “Material Document Defect” or such Breach shall constitute a “Material
Breach,” as the case may be; provided, however, that if any of the documents specified in clauses
(i), (ii), (vii) and (xix) of Section 2.01(a) of this Agreement are not delivered as required
in each Trust Loan Purchase Agreement and certified as missing pursuant to Section 2.02 of this Agreement, it shall be deemed
a Material Document Defect; provided, further, that no Defect (except as provided in the immediately preceding proviso
and Defects that cause the Trust Loan to be other than a Qualified Mortgage) shall be considered to be a Material Document Defect
unless the document with respect to which the Defect exists is required in connection with an imminent enforcement of the lender’s
rights or remedies under the Trust Loan, defending any claim asserted by the Borrower or a third party with respect to the Trust
Loan, establishing the validity or priority of any lien on any collateral securing the Trust Loan or for any immediate significant
servicing obligation. The Custodian, the Certificate Administrator and the Trustee shall not be required to make any such determination
absent written notice or direction from Certificateholders in accordance with Section 8.02(a)(iii). Promptly upon receiving
written notice of any such Material Document Defect or Material Breach with respect to the Trust Loan, accompanied by a written
demand to take the actions contemplated by this sentence from the

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Depositor, the Master Servicer, the Special Servicer, the Trustee,
the Certificate Administrator or the Custodian, on behalf of the Trust Fund, each Trust Loan Seller shall, not later than 90 days
from such Trust Loan Seller’s receipt of such notice of, and such written demand to take action with respect to, such Material
Document Defect or Material Breach, as the case may be (or, in the case of a Material Breach or Material Document Defect that would
cause the Trust Loan not to be a Qualified Mortgage, within 90 days of the related Trust Loan Seller or any party to this Agreement
discovering such Material Breach or Material Document Defect) (any such 90-day period, the “Initial Resolution Period”),
(i) cure the same in all material respects, (ii) repurchase its Trust Loan Seller Transferred Interest in the Trust Loan at an
amount equal to its Trust Loan Seller Percentage Interest of the Repurchase Price in conformity with the applicable Trust Loan
Purchase Agreement or (iii) if such Material Document Defect or Material Breach is not related to the Trust Loan not being a Qualified
Mortgage, indemnify the Trust for its Trust Loan Seller Percentage Interest of the losses directly related to such Material Breach
or Material Document Defect, subject to receipt of No Downgrade Confirmation from each Rating Agency with respect to such action
(or if each Rating Agency waives review or fails to respond to a request for a No Downgrade Confirmation, subject to (y) approval
of the Directing Holder so long as a Subordinate Control Period is in effect and (z) consultation with the Directing Holder so
long as a Subordinate Consultation Period is in effect (or if the Directing Holder is an Affiliate of a Trust Loan Seller, subject
to the approval of the Special Servicer)); provided that if (i) such Material Document Defect or Material Breach is capable
of being cured but not within the Initial Resolution Period, (ii) such Material Document Defect or Material Breach is not related
to the Trust Loan not being a Qualified Mortgage and (iii) a Trust Loan Seller has commenced and is diligently proceeding with
the cure of such Material Document Defect or Material Breach within the Initial Resolution Period, then such Trust Loan Seller
shall have an additional period equal to the applicable Resolution Extension Period to complete such cure or, failing such cure,
to repurchase its Trust Loan Seller Transferred Interest or indemnify the Trust in respect of its Trust Loan Seller Percentage
Interest. Notwithstanding the foregoing, the failure to deliver to the Trustee and the Custodian copies of the UCC financing statements
with respect to the Trust Loan shall not be a Material Document Defect.

(f)          In
connection with any repurchase of the Trust Loan contemplated by this Section 2.03, (A) the Custodian (and the Trustee hereby
authorizes the Custodian to tender such documents), the Master Servicer (with respect to a Performing Loan) and the Special Servicer
(with respect to a Specially Serviced Loan) shall each tender to the Trust Loan Sellers or their designees all portions of the
Mortgage File (in the case of the Custodian) and the Servicing File (in the case of the Master Servicer and the Special Servicer,
as applicable) (including the original Trust Notes related to each Trust Loan Seller’s Trust Loan Seller Transferred Interest
in the Trust Loan) and other documents pertaining to the Trust Loan possessed by it, upon delivery (i) to each of the Master Servicer
or the Special Servicer, as applicable, of a trust receipt and (ii) to the Custodian by the Master Servicer or the Special Servicer,
as applicable, of a Request for Release and an acknowledgement by the Master Servicer or Special Servicer, as applicable, of its
receipt of each Trust Loan Seller Percentage Interest the Repurchase Price from the Trust Loan Sellers, (B) each document that
constitutes a part of the Mortgage File that was endorsed or assigned to the Trustee shall be endorsed or assigned without recourse
in the form of endorsement or assignment provided to the Custodian by the Trust Loan Sellers, as the case may be, to the Trust
Loan Sellers as shall be necessary to vest in the Trust Loan Sellers the legal and beneficial ownership of each Trust Loan Seller’s
respective repurchased Trust Loan Seller

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Transferred Interest in the Trust Loan to the extent such ownership was transferred to
the Trustee (provided, however, that the Master Servicer or Special Servicer, as applicable, shall use reasonable
efforts to cooperate in furnishing necessary information to the extent in its possession to the Trust Loan Sellers in connection
with the preparation by the Trust Loan Sellers of such endorsement or assignment) and (C) the Certificate Administrator, the Master
Servicer and the Special Servicer shall release, or cause the release of, any escrow payments and reserve funds held by or on behalf
of the Certificate Administrator, the Master Servicer and the Special Servicer, as applicable, or on the Certificate Administrator’s,
the Master Servicer’s and the Special Servicer’s, as applicable, behalf, in respect of the Trust Loan to the Trust
Loan Sellers in accordance with their respective repurchased Trust Loan Seller Transferred Interest in the Trust Loan.

(g)          The
Master Servicer (with respect to a Performing Loan) and the Special Servicer (with respect to a Specially Serviced Loan) shall,
for the benefit of the Certificateholders and the Trustee, use reasonable efforts to enforce the obligations of the related Trust
Loan Seller under Section 6 of the related Trust Loan Purchase Agreement. Such enforcement, including, without limitation, the
legal prosecution of claims, shall be carried out in accordance with the Servicing Standard. The Trustee, the Certificate Administrator,
the Master Servicer and the Special Servicer, as the case may be, shall be reimbursed for the reasonable costs of such enforcement:
first, pursuant to Section 3.06 of this Agreement (with respect to the Trust Loan), out of the related Repurchase
Price or indemnification amounts to the extent that such expenses are a specific component thereof; and second, if at the
conclusion of such enforcement action it is determined that the amounts described in clause first are insufficient, then
pursuant to Section 3.06 of this Agreement, out of general collections on the Trust Loan on deposit in the Collection Account
in each case with interest thereon at the Advance Rate from the time such expense was incurred to, but excluding, the date such
expense was reimbursed. To the extent the Trust Loan Sellers prevail in such proceeding, the Trust Loan Sellers shall be entitled
to reimbursement from the Trust for all necessary and reasonable costs and expenses incurred in connection with such proceeding.

So long as document
exceptions are outstanding, on each anniversary of the Closing Date, the Custodian shall prepare and forward to the Depositor,
the Trustee, the Certificate Administrator, the Master Servicer, the Special Servicer and the Trust Loan Sellers, a document exception
report setting forth the then current status of any Defects related to the Mortgage Files in a format mutually agreed upon between
the Custodian and the Trustee.

It is understood and
agreed that Section 6 of each Trust Loan Purchase Agreement provides the sole remedy available to the Certificateholders and the
Trustee on behalf of the Certificateholders respecting any Breach (including a Breach with respect to the Trust Loan failing to
constitute a Qualified Mortgage) or any Defect.

(h)          In
the event that any litigation is commenced which alleges facts which, in the judgment of the Depositor, could constitute a breach
of any of the Depositor’s representations and warranties relating to the Trust Loan, the Depositor hereby reserves the right
to conduct the defense of such litigation at its expense and shall not be required to obtain any consent from the Master Servicer
or the Special Servicer, unless such defense results in any liability of the Master Servicer or the Special Servicer, as applicable.

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(i)          If
for any reason any Trust Loan Seller fails to fulfill its obligations under the related Trust Loan Purchase Agreement with respect
to the Trust Loan, the Master Servicer (with respect to a Performing Loan) and the Special Servicer (with respect to a Specially
Serviced Loan) shall use reasonable efforts in enforcing any obligation of the Trust Loan Sellers to cure or repurchase or make
an indemnity payment with respect to the Trust Loan under the terms of the related Trust Loan Purchase Agreement all at the expense
of the related Trust Loan Seller.

(j)          To
the extent that not all of the Trust Loan Sellers repurchase their Trust Loan Seller Transferred Interest pursuant to the terms
of the related Trust Loan Purchase Agreement, (i) the Trust Loan shall continue to be serviced by the Master Servicer and, as applicable,
the Special Servicer, in accordance with the terms of this Agreement on behalf of such repurchasing Trust Loan Seller and the Certificateholders
as a collective whole, and the Master Servicer or the Special Servicer, as applicable, shall be the sole representative of the
lender in connection with any enforcement, bankruptcy or other proceeding, (ii) the Trustee, on behalf of the Trust, shall remain
the mortgagee of record with respect to the Mortgage, (iii) the Trustee/Certificate Administrator Fee, CREFC® License
Fee, Master Servicing Fee and/or Special Servicing Fee with respect to the Trust Loan shall continue to be calculated based on
the entire Stated Principal Balance of the Trust Loan, (iv) the Custodian shall retain all portions of the Mortgage File other
than the related Trust Loan Note corresponding to the repurchased Trust Loan Seller’s Trust Loan Seller Transferred Interest,
(v) the repurchasing Trust Loan Seller shall be entitled to remittances on or prior to the Distribution Date of its pro rata share,
based upon its Trust Loan Seller Percentage Interest, of all amounts that would otherwise be available for distribution on such
Distribution Date pursuant to Article IV hereof to Certificateholders (other than any amounts in respect of any P&I Advance)
with respect to the Trust Loan less (A) fees and expenses with respect to servicing of such Trust Loan Seller’s Trust Loan
Seller Interest and (B) all costs and expenses incurred in connection with the Trust Loan Seller’s repurchase obligations
and such amounts shall be wired in accordance with the directions provided to the Trustee, the Certificate Administrator and the
Master Servicer by the Trust Loan Seller at least ten (10) Business Days prior to the related Distribution Date, (vi) each repurchasing
Trust Loan Seller shall be entitled to receive any and all reports and have access to any and all information that a Certificateholder
would otherwise have under the terms of this Agreement, (vii) no amendment may be made to this Agreement that would materially
and adversely affect the rights of such repurchasing Trust Loan Seller in respect of the repurchasing Trust Loan Seller’s
Trust Loan Seller Transferred Interest without the consent of such repurchasing Trust Loan Seller, (viii) to the extent the Trustee,
on behalf of the Trust, holds record or legal title to any Mortgage File document that relates to any Trust Loan Seller’s
Trust Loan Seller Transferred Interest in the Trust Loan repurchased pursuant to this Section 2.03(j), the Trustee shall
hold such title in trust for the Certificateholders and for the use and benefit of the Certificateholders, the related Trust Loan
Seller and the Companion Loan Holders, collectively, and (ix) to the extent this Agreement refers to the “Mortgage File,”
such “Mortgage File” shall be construed to mean the Mortgage File for the entire Trust Loan (except that references
to any Trust Loan Note in favor of the repurchasing Trust Loan Seller shall be construed to instead refer to a photocopy of such
Trust Loan Note). Neither the Master Servicer nor the Trustee shall make any P&I Advance or Administrative Advance with respect
to any Trust Loan Seller’s Trust Loan Seller Transferred Interest of the Trust Loan which has been repurchased as described
herein.

 

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Section 2.04Representations, Warranties and Covenants of the Master Servicer,
the Special Servicer, the Certificate Administrator and the Trustee. (a) Wells Fargo Bank, National Association, as the
Master Servicer, hereby represents and warrants with respect to itself to the Trustee, for its own benefit and the benefit of
the Certificateholders and the Companion Loan Holders, to the Depositor, to the Certificate Administrator and to the Special
Servicer, as of the Closing Date, that:

 

(i)          It is a
national banking association, duly organized, validly existing, and is in good standing, under the laws of the United States of
America and it is in compliance with the laws of each state (within the United States of America) in which the Mortgaged Property
is located to the extent necessary to perform its obligations under this Agreement;

 

(ii)         Its execution
and delivery of this Agreement, and its performance and compliance with the terms of this Agreement, do not (A) violate its organizational
documents or (B) constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under,
or result in the breach of, any material agreement or other material instrument to which it is a party or which is applicable to
it or any of its assets, or (C) violate any law, rule, regulation, order, judgment or decree to which it or its property is subject,
which, in the case of either (B) or (C), is likely to materially and adversely affect either its ability to perform its obligations
under this Agreement or its financial condition;

 

(iii)        It has
the full corporate power and authority to enter into and consummate all transactions to be performed by it contemplated by this
Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered this
Agreement;

 

(iv)       This Agreement,
assuming due authorization, execution and delivery by the Trustee, the Paying Agent, the Certificate Administrator and the Depositor,
constitutes a valid, legal and binding obligation of it, enforceable against it in accordance with the terms hereof, subject to
applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement of creditors’
rights generally, and general principles of equity, regardless of whether such enforcement is considered in a proceeding in equity
or at law;

 

(v)        It is not
in default with respect to any law, any order or decree of any court, or any order, regulation or demand of any federal, state,
municipal or governmental agency, which default in its reasonable judgment is likely to materially and adversely affect the financial
condition or its operations or its properties taken as a whole or its ability to perform its duties and obligations hereunder;

 

(vi)       No litigation
is pending or, to the best of its knowledge, threatened against it which would prohibit it from entering into this Agreement or,
in its good faith and reasonable judgment is likely to materially and adversely affect either its ability to perform its obligations
under this Agreement or its financial condition;

 

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(vii)      No consent,
approval, authorization or order of any court or governmental agency or body is required for its execution, delivery and performance
of, or compliance by it, with, this Agreement or the consummation of the transactions contemplated by this Agreement, except for
any consent, approval, authorization or order which has been obtained, or which, if not obtained would not have a materially adverse
effect on the ability of it to perform its obligations hereunder; and

 

(viii)     Each
of its officers and employees that has responsibilities concerning the servicing and administration of the Trust Loan is covered
by errors and omissions insurance and the fidelity bond in the amounts and with the coverage required by this Agreement.

 

(b)        It is understood and agreed
that the representations and warranties set forth in this Section shall survive delivery of the Mortgage File to the Trustee or
the Custodian on behalf of the Trustee until the termination of this Agreement, and shall inure to the benefit of the Trustee,
the Certificate Administrator, the Depositor, the Companion Loan Holders and the Master Servicer or Special Servicer, as the case
may be. Upon discovery by the Depositor, the Master Servicer, the Special Servicer or a Responsible Officer of the Trustee or the
Certificate Administrator (or upon written notice thereof from any Certificateholder) of a breach of any of the representations
and warranties set forth in this Section which materially and adversely affects the interests of the Certificateholders, the Certificate
Administrator, the Master Servicer, Special Servicer, the Companion Loans Holders or the Trustee in the Trust Loan, the party discovering
such breach shall give prompt written notice to the other parties hereto and the Trust Loan Sellers.

 

(c)        The Trustee hereby represents
and warrants to the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Certificateholders
and the Companion Loan Holders as of the Closing Date, that:

 

(i)       The Trustee
is a national banking association, duly organized, validly existing and in good standing under the laws of the United States of
America and has full power, authority and legal right to own its properties and conduct its business as presently conducted and
to execute, deliver and perform the terms of this Agreement;

 

(ii)      This Agreement
has been duly authorized, executed and delivered by the Trustee and, assuming due authorization, execution and delivery by the
other parties hereto, constitutes a legal, valid and binding instrument enforceable against the Trustee in accordance with its
terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the
enforcement of creditors’ rights in general and by general equity principles (regardless of whether such enforcement is considered
in a proceeding in equity or at law);

 

(iii)     Neither
the execution and delivery of this Agreement by the Trustee nor the consummation by the Trustee of the transactions herein contemplated
to be performed by the Trustee, nor compliance by the Trustee with the provisions hereof, will conflict with or result in a breach
of, or constitute a default under, any of the provisions of any applicable law (subject to the appointment in accordance with such
applicable law of any co-Trustee or separate Trustee required pursuant to this Agreement), governmental rule,

 

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regulation, judgment,
decree or order binding on the Trustee or its properties or the organizational documents of the Trustee or the terms of any material
agreement, instrument or indenture to which the Trustee is a party or by which it is bound which, in the Trustee’s good faith
and reasonable judgment, is likely to affect materially and adversely the ability of the Trustee to perform its obligations under
this Agreement;

 

(iv)     The Trustee
is not in violation of, and the execution and delivery of this Agreement by the Trustee and its performance and compliance with
the terms of this Agreement will not constitute a violation with respect to, any order or decree of any court binding on the Trustee
or any law, order or regulation of any federal, state, municipal or governmental agency having jurisdiction, or result in the creation
or imposition of any lien, charge or encumbrance which, in any such event, would have consequences that would materially and adversely
affect the condition (financial or otherwise) or operation of the Trustee or its properties or impair the ability of the Trust
Fund to realize on the Trust Loan;

 

(v)       No consent,
approval, authorization or order of, or registration or filing with, or notice to any court or governmental agency or body, is
required for the execution, delivery and performance by the Trustee of or compliance by the Trustee with this Agreement, or if
required, such approval has been obtained prior to the Cut-off Date or which, if not obtained, would have a materially adverse
effect on the Trustee’s ability to perform its obligations hereunder;

 

(vi)     To the best
of the Trustee’s knowledge, no litigation is pending or threatened against the Trustee which would prohibit its entering
into or materially and adversely affect its ability to perform its obligations under this Agreement or the Indemnification Agreement,
dated the Pricing Date, between the Trustee, the Depositor and the Initial Purchasers.

 

(d)      The Certificate Administrator
hereby represents and warrants to the Depositor, the Trustee, the Master Servicer, the Special Servicer, the Certificateholders
and the Companion Loan Holders as of the Closing Date, that:

 

(i)       The Certificate
Administrator is a New York state banking corporation, duly organized, validly existing, and is in good standing, under the laws
governing its creation and existence and has full power, authority and legal right to own its property and conduct its business
as presently conducted and to execute, deliver and perform the terms of this Agreement.

 

(ii)      This Agreement
has been duly authorized, executed and delivered by the Certificate Administrator and, assuming due authorization, execution and
delivery by the other parties hereto, constitutes a legal, valid and binding instrument enforceable against the Certificate Administrator
in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization or other similar
laws affecting the enforcement of creditors’ rights in general and by general equity principles (regardless of whether such
enforcement is considered in a proceeding in equity or at law).

 

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(iii)      Neither
the execution and delivery of this Agreement by the Certificate Administrator nor the consummation by the Certificate Administrator
of the transactions herein contemplated to be performed by the Certificate Administrator, nor compliance by the Certificate Administrator
with the provisions hereof, will conflict with or result in a breach of, or constitute a default under, any of the provisions of
any applicable law, governmental rule, regulation, judgment, decree or order binding on the Certificate Administrator or its properties
or the organizational documents of the Certificate Administrator or the terms of any material agreement, instrument or indenture
to which the Certificate Administrator is a party or by which it is bound which, in the Certificate Administrator’s good
faith and reasonable judgment, is likely to affect materially and adversely the ability of the Certificate Administrator to perform
its obligations under this Agreement.

 

(iv)     The Certificate
Administrator is not in violation of, and the execution and delivery of this Agreement by the Certificate Administrator and its
performance and compliance with the terms of this Agreement will not constitute a violation with respect to, any order or decree
of any court binding on the Certificate Administrator or any law, order or regulation of any federal, state, municipal or governmental
agency having jurisdiction, or result in the creation or imposition of any lien, charge or encumbrance which, in any such event,
would have consequences that would materially and adversely affect the ability of the Certificate Administrator to perform its
obligations under this Agreement;

 

(v)      No consent,
approval, authorization or order of, or registration or filing with, or notice to any court or governmental agency or body, is
required for the execution, delivery and performance by the Certificate Administrator of or compliance by the Certificate Administrator
with this Agreement, or if required, such approval has been obtained prior to the Cut-off Date or which, if not obtained, would
have a materially adverse effect on the Certificate Administrator’s ability to perform its obligations hereunder; and

 

(vi)     To the best
of the Certificate Administrator’s knowledge, no litigation is pending or threatened against the Certificate Administrator
which would prohibit its entering into or materially and adversely affect its ability to perform its obligations under this Agreement
or the Indemnification Agreement, dated the Pricing Date, among the Certificate Administrator, the Depositor and the Initial Purchasers.

 

(e)       Pacific Life Insurance
Company, as the Special Servicer, hereby represents and warrants with respect to itself to the Trustee, for its own benefit and
the benefit of the Certificateholders and the Companion Loan Holders, to the Depositor, to the Certificate Administrator and to
the Master Servicer, as of the Closing Date, that:

 

(i)        It is a
corporation, duly organized, validly existing, and is in good standing, under the laws of the State of Nebraska and it is in compliance
with the laws of each state (within the United States of America) in which the Mortgaged Property is located to the extent necessary
to perform its obligations under this Agreement;

  

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(ii)       Its execution
and delivery of this Agreement, and its performance and compliance with the terms of this Agreement, do not (A) violate its organizational
documents or (B) constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under,
or result in the breach of, any material agreement or other material instrument to which it is a party or which is applicable to
it or any of its assets, or (C) violate any law, rule, regulation, order, judgment or decree to which it or its property is subject,
which, in the case of either (B) or (C), is likely to materially and adversely affect either its ability to perform its obligations
under this Agreement or its financial condition;

 

(iii)      It has
the full corporate power and authority to enter into and consummate all transactions to be performed by it contemplated by this
Agreement, has duly authorized the execution, delivery and performance of this Agreement, and has duly executed and delivered this
Agreement;

 

(iv)     This Agreement,
assuming due authorization, execution and delivery by the Trustee, the Paying Agent, the Certificate Administrator, the Master
Servicer and the Depositor, constitutes a valid, legal and binding obligation of it, enforceable against it in accordance with
the terms hereof, subject to applicable bankruptcy, insolvency, reorganization, receivership, moratorium and other laws affecting
the enforcement of creditors’ rights generally, and general principles of equity, regardless of whether such enforcement
is considered in a proceeding in equity or at law;

 

(v)      It is not
in default with respect to any law, any order or decree of any court, or any order, regulation or demand of any federal, state,
municipal or governmental agency, which default in its reasonable judgment is likely to materially and adversely affect the financial
condition or its operations or its properties taken as a whole or its ability to perform its duties and obligations hereunder;

 

(vi)     No litigation
is pending or, to the best of its knowledge, threatened against it which would prohibit it from entering into this Agreement or,
in its good faith and reasonable judgment is likely to materially and adversely affect either its ability to perform its obligations
under this Agreement or its financial condition;

 

(vii)    No consent,
approval, authorization or order of any court or governmental agency or body is required for its execution, delivery and performance
of, or compliance by it, with, this Agreement or the consummation of the transactions contemplated by this Agreement, except for
any consent, approval, authorization or order which has been obtained, or which, if not obtained would not have a materially adverse
effect on the ability of it to perform its obligations hereunder; and

 

(viii)   Each
of its officers and employees that has responsibilities concerning the servicing and administration of the Trust Loan is covered
by errors and omissions insurance and the fidelity bond in the amounts and with the coverage required by this Agreement.

 

Section 2.05
Execution and Delivery of Certificates; Issuance of Lower-Tier Regular Interests. The Trustee acknowledges the
assignment to it of the Trust Loan and the

 

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delivery of the Mortgage File to the Custodian (to the extent the documents constituting the Mortgage File
is actually delivered to the Custodian), subject to the provisions of Section 2.01 and Section 2.02 of this Agreement and, concurrently
with such delivery, (i) acknowledges and hereby declares that it holds the Trust Loan and the other assets included in the Lower-Tier
REMIC on behalf of the Lower-Tier REMIC and the Holders of the Certificates; (ii) acknowledges the issuance of the Lower-Tier
Regular Interests to the Depositor in exchange for the Trust Loan and other assets included in the Lower-Tier REMIC, (iii) acknowledges
the contribution by the Depositor of the Lower-Tier Regular Interests to the Upper-Tier REMIC and hereby declares that it holds
the Lower-Tier Regular Interests on behalf of the Upper-Tier REMIC and the Holders of the Certificates (other than the Class LR
Certificates); and (iv) acknowledges the issuance of the Class LR Certificates and, in exchange for the Lower-Tier Regular Interests,
acknowledges the issuance of the Regular Certificates and Class R Certificates, in authorized Denominations, in each case registered
in the names set forth in such order or as so directed in this Agreement and duly authenticated by the Authenticating Agent, which
Certificates, evidence ownership of the entire Trust Fund.

 

Section 2.06 Miscellaneous
REMIC Provisions. (a) The Lower-Tier Regular Interests issued hereunder are hereby designated as the “regular interests”
in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and the Class LR Certificates are hereby designated
as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Section 860G(a)(2) of the
Code.

 

The Class A, Class X-A, Class
B, Class C and Class D Certificates are hereby designated as “regular interests” in the Upper-Tier REMIC within the
meaning of Section 860G(a)(1) of the Code, and the Class R Certificates are hereby designated as the sole Class of “residual
interests” in the Upper-Tier REMIC within the meaning of Section 860G(a)(2) of the Code.

 

The Closing Date is hereby designated
as the “Startup Day” of the Lower-Tier REMIC and the Upper-Tier REMIC within the meaning of Section 860G(a)(9) of the
Code. The “latest possible maturity date” for purposes of Section 860G(a)(l) of the Code for the Lower-Tier Regular
Interests and the Regular Certificates is the Rated Final Distribution Date.

 

(b)          None of the Depositor,
the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer shall enter into any arrangement by which
the Trust Fund will receive a fee or other compensation for services other than as specifically contemplated herein.

 

ARTICLE
III

ADMINISTRATION AND SERVICING

OF THE TRUST FUND

 

Section 3.01The
Master Servicer To Act as Master Servicer; Special Servicer To Act as Special Servicer; Administration of the Whole Loan. (a)
The Master Servicer (with respect to the Whole Loan if it is a Performing Loan) and the Special Servicer (with respect to the
Whole Loan if it is a Specially Serviced Loan or an REO Loan), each as an independent

 

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contractor servicer, shall service and
administer the Whole Loan on behalf of the Trust Fund and the Trustee (as Trustee for the Certificateholders) and the
Companion Loan Holders (as a collective whole as if such Certificateholders and Companion Loan Holders constituted a single
lender), in accordance with the Servicing Standard.

 

The Master Servicer’s
or Special Servicer’s liability for actions and omissions in its capacity as Master Servicer or Special Servicer, as the
case may be, hereunder is limited as provided herein (including, without limitation, pursuant to Section 6.03 hereof).
To the extent consistent with the foregoing and subject to any express limitations set forth in this Agreement, the Master Servicer
and Special Servicer shall seek to maximize the timely and complete recovery of principal and interest on the Note; provided,
however, that nothing herein contained shall be construed as an express or implied guarantee by the Master Servicer or
Special Servicer of the collectability of the Whole Loan. Subject only to the Servicing Standard, the Master Servicer and Special
Servicer shall have full power and authority, acting alone or through one or more Sub-Servicers (subject to paragraph (c)
of this Section 3.01, to the related Sub-Servicing Agreement with each Sub-Servicer and to Section 3.02 of this
Agreement), to do or cause to be done any and all things in connection with such servicing and administration that it may deem
consistent with the Servicing Standard and, in its reasonable judgment, in the best interests of the Certificateholders and the
Companion Loan Holders (as a collective whole as if such Certificateholders and Companion Loan Holders constituted a single lender),
including, without limitation, with respect to the Whole Loan to prepare, execute and deliver, on behalf of the Certificateholders
and Companion Loan Holders and the Trustee or any of them: (i) any and all financing statements, continuation statements and other
documents or instruments necessary to maintain the lien on the Mortgaged Property and related collateral; (ii) any modifications,
waivers, consents or amendments to or with respect to any documents contained in the Mortgage File; and (iii) any and all instruments
of satisfaction or cancellation, or of partial or release or discharge, and all other comparable instruments, with respect to
the Whole Loan and the Mortgaged Property. Notwithstanding the foregoing, neither the Master Servicer nor the Special Servicer
shall modify, amend, waive or otherwise consent to any change of the terms of the Whole Loan except under the circumstances described
in Section 3.03, Section 3.09, Section 3.10, Section 3.24, Section 3.25 and Section 3.26
hereof. The Master Servicer (with respect to the Whole Loan if it is a Performing Loan) and the Special Servicer (with respect
to the Whole Loan if it is a Specially Serviced Loan or an REO Loan) shall provide to the Borrower reports required to be provided
to it pursuant to the Loan Documents. Subject to Section 3.11 of this Agreement, the Trustee shall, upon the receipt of
a written request of a Servicing Officer, execute and deliver to the Master Servicer and Special Servicer, as applicable, any
powers of attorney (substantially in the form attached hereto as Exhibit Q or such other form as mutually agreed to by
the Trustee and the Master Servicer or the Special Servicer, as applicable) and other documents (including, but not limited to,
other powers of attorney) prepared by the Master Servicer and Special Servicer, as applicable, and necessary or appropriate (as
certified in such written request) to enable the Master Servicer and Special Servicer, as applicable, to carry out their servicing
and administrative duties hereunder. The Trustee shall not be held liable for any misuse of any such power of attorney by the
Master Servicer and Special Servicer, as applicable. Notwithstanding anything contained herein to the contrary, none of the Master
Servicer or the Special Servicer shall, without the Trustee’s written consent: (i) initiate any action, suit or proceeding
solely under the Trustee’s name without indicating the Master Servicer’s or Special Servicer’s, as applicable,
representative capacity; provided, however, that in those jurisdictions

 

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in which the foregoing requirement would
not be legally or procedurally permissible, the Master Servicer or the Special Servicer, as applicable, shall provide five (5)
Business Days’ prior written notice to the Trustee of the initiation of such action, suit or proceeding (or provide such
prior written notice as the Master Servicer or the Special Servicer, as applicable, shall determine in its reasonable judgment
exercised in accordance with the Servicing Standard, to be reasonably practicable prior to filing such action, suit or proceeding)
(and shall not be required to obtain the Trustee’s written consent or indicate the Master Servicer’s or the Special
Servicer’s, as applicable, representative capacity) or (ii) take any action with the intent to cause, and that actually
causes, the Trustee to be registered to do business in any state.

 

(b)          Unless otherwise provided
in the Note, Loan Agreement or Co-Lender Agreement, the Master Servicer shall apply any partial Principal Prepayment received on
the Whole Loan on a date other than a Due Date to the Stated Principal Balance of the Whole Loan as of the Due Date immediately
following the date of receipt of such partial Principal Prepayment; provided that the Master Servicer shall apply any total
or partial Principal Prepayment received on the Whole Loan on a date following a Due Date but prior to the close of business on
the Business Day prior to the related Servicer Remittance Date to the Stated Principal Balance of the Whole Loan as of the Due
Date immediately preceding the date of receipt of such total or partial Principal Prepayment. Unless otherwise provided in the
Note, if the Whole Loan is defeased, the Master Servicer shall apply any amounts received on U.S. Treasury obligations pursuant
to the terms of the Loan Documents to the Stated Principal Balance of and interest on the Whole Loan as of the Due Date immediately
following the receipt of such amounts.

 

(c)          The Master Servicer and
the Special Servicer, may enter into Sub-Servicing Agreements with third parties with respect to any of its respective obligations
hereunder, provided that (i) any such agreement requires the Sub-Servicer to comply in all material respects with all of
the applicable terms and conditions of this Agreement and shall be consistent with the provisions of this Agreement, the terms
of the Loan Documents and the Co-Lender Agreement, (ii) if such Sub-Servicer is a Servicing Function Participant, any such agreement
provides that (x) the failure of such Sub-Servicer to comply with any of the requirements under Sections 3.27, 3.28
or 3.29 of this Agreement applicable to such Sub-Servicer, including the failure to deliver any reports or certificates
at the time such report or certification is required under Sections 3.27, 3.28 or 3.29 of this Agreement and
(y) the failure of such Sub-Servicer to comply with any requirements to deliver any items required by Items 1122 and 1123 of Regulation
AB under any other trust and servicing agreement relating to any other series of certificates offered by the Depositor shall constitute
a termination event by such Sub-Servicer upon the occurrence of which the Master Servicer shall (and the Depositor may) immediately
terminate the related Sub-Servicer under the related Sub-Servicing Agreement, which termination shall be deemed for cause, (iii)
no Sub-Servicer retained by the Master Servicer or the Special Servicer, as applicable, shall grant any modification, waiver or
amendment to the Whole Loan or foreclose on the Mortgage without the approval of the Master Servicer or the Special Servicer, as
applicable, which approval shall be given or withheld in accordance with the procedures set forth in Section 3.09, Section
3.10, Section 3.24, Section 3.25 and Section 3.26 (as applicable), (iv) such agreement shall be consistent
with the Servicing Standard and (v) with respect to any Sub-Servicing Agreement entered into after the Closing Date, if such Sub-Servicer
is a Servicing Function Participant, such Sub-Servicer, at the time the

 

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related Sub-Servicing Agreement is entered into, is not
a Prohibited Party. Any such Sub-Servicing Agreement may permit the Sub-Servicer to delegate its duties to agents or Subcontractors
so long as the related agreements or arrangements with such agents or Subcontractors are consistent with the provisions of this
Section 3.01(c) (including, for the avoidance of doubt, that no such agent or Subcontractor is a Prohibited Party, if such
agent or Subcontractor would be a Servicing Function Participant, at the time the related Sub-Servicing Agreement is entered into).
Any monies received by a Sub-Servicer pursuant to a Sub-Servicing Agreement (other than sub-servicing fees) shall be deemed to
be received by the Master Servicer on the date received by such Sub-Servicer.

 

Any Sub-Servicing Agreement entered
into by the Master Servicer or the Special Servicer, as applicable, shall provide that it may be assumed by the Trustee (in its
sole discretion) if the Trustee has assumed the duties of the Master Servicer or the Special Servicer, respectively, or any successor
Master Servicer or Special Servicer, as applicable, without cost or obligation to the assuming party or the Trust Fund, upon the
assumption by such party of the obligations, except to the extent they arose prior to the date of assumption, of the Master Servicer
or the Special Servicer, as applicable, pursuant to Section 7.02 (it being understood that any such obligations shall be
the obligations of the terminated Master Servicer or Special Servicer, as applicable, only).

 

Any Sub-Servicing Agreement,
and any other transactions or services relating to the Whole Loan involving a Sub-Servicer, shall be deemed to be between the Master
Servicer or the Special Servicer, as applicable, and such Sub-Servicer alone, and the Trustee, the Certificate Administrator, the
Trust Fund, Certificateholders and the Companion Loan Holders shall not be deemed parties thereto and shall have no claims, rights
(except as specified below), obligations, duties or liabilities with respect to the Sub-Servicer, except as set forth in Section
3.01(c)(ii) and Section 3.01(d).

 

Notwithstanding the provisions
of any Sub-Servicing Agreement and this Section 3.01, in no event shall the Trust Fund, the Trustee, the Certificate Administrator,
the Depositor or the Companion Loan Holders bear any termination fee required to be paid to any Sub-Servicer as a result of the
termination of any Sub-Servicing Agreement.

 

(d)          If the Trustee or any
successor Master Servicer assumes the obligations of the Master Servicer, or if the Trustee or any successor Special Servicer assumes
the obligations of the Special Servicer, in each case in accordance with Section 7.02, the Trustee, the successor Master
Servicer or such successor Special Servicer, as applicable, to the extent necessary to permit the Trustee, the successor Master
Servicer or such successor Special Servicer, as applicable, to carry out the provisions of Section 7.02, shall, without
act or deed on the part of the Trustee, the successor Master Servicer or such successor Special Servicer, as applicable, succeed
to all of the rights and obligations of the Master Servicer or the Special Servicer, as applicable, under any Sub-Servicing Agreement
entered into by the Master Servicer or the Special Servicer, as applicable, pursuant to Section 3.01(c). In such event,
such successor shall be deemed to have assumed all of the Master Servicer’s or the Special Servicer’s interest, as
applicable, therein (but not any liabilities or obligations in respect of acts or omissions of the Master Servicer or the Special
Servicer, as applicable, prior to such deemed assumption) and to have replaced the Master Servicer or the Special Servicer, as
applicable, as a party to such Sub-Servicing Agreement to the same extent as if such Sub-Servicing Agreement had been assigned

 

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to such successor, except that the Master Servicer or the Special Servicer, as applicable, shall not thereby be relieved of any
liability or obligations under such Sub-Servicing Agreement that accrued prior to the succession of such successor.

 

If the Trustee or any successor
Master Servicer or successor Special Servicer, as applicable, assumes the servicing obligations of the Master Servicer or the Special
Servicer, as applicable, then upon request of such successor, the Master Servicer or Special Servicer, as applicable, shall at
its own expense (except in the event that the Special Servicer is terminated pursuant to Section 3.22, at the expense of
the Certificateholders effecting such termination, as applicable) deliver to such successor all documents and records relating
to any Sub-Servicing Agreement and the Trust Loan and/or the Companion Loan then being serviced thereunder and an accounting of
amounts collected and held by it, if any, and shall otherwise use commercially reasonable efforts to effect the orderly and efficient
transfer of any Sub-Servicing Agreement to such successor. The Master Servicer shall not be required to assume the obligations
of the Special Servicer and nothing in this paragraph shall imply otherwise.

 

(e)        
  In order to comply with laws, rules, regulations and executive orders in effect from time to time applicable
to banking institutions, including those relating to the funding of terrorist activities and money laundering (for purposed
of this clause (e), “Applicable Law”), the Master Servicer and the Special Servicer, as the case
may be, are required to obtain, verify and record certain information relating to individuals and entities that maintain a
business relationship with the Master Servicer or the Special Servicer. Accordingly, each of the parties hereto agrees to
provide to the Master Servicer and the Special Servicer, upon its respective request from time to time, such identifying
information and documentation as may be available for such party in order to enable the Master Servicer and the Special
Servicer to comply with Applicable Law.

 

(f)           The parties hereto acknowledge
that the Whole Loan is subject to the terms and conditions of the Co-Lender Agreement. The parties hereto further recognize the
rights and obligations of the Companion Loan Holders under the Co-Lender Agreement, including, without limitation with respect
to (A) the allocation of collections (and all other amounts received in connection with the Whole Loan) on or in respect of the
Whole Loan and (B) the allocation of Default Interest on or in respect of the Whole Loan. In the event of any inconsistency or
discrepancy between the provisions, terms or conditions of the Co-Lender Agreement and the provisions, terms or conditions of this
Agreement, the Co-Lender Agreement shall govern, and as to any matter on which the Co-Lender Agreement is silent or makes reference
to this Agreement, this Agreement shall govern.

 

Section 3.02Liability
of the Master Servicer and the Special Servicer When Sub-Servicing. Notwithstanding any Sub-Servicing Agreement, any of the
provisions of this Agreement relating to agreements or arrangements between the Master Servicer or Special Servicer, as applicable,
and any Person acting as Sub-Servicer (or its agents or Subcontractors) or any reference to actions taken through any Person acting
as Sub-Servicer or otherwise, the Master Servicer or the Special Servicer, as applicable, shall remain obligated and primarily
liable to the Trustee (on behalf of the Certificateholders and the Companion Loan Holders) and the Certificateholders for the
servicing and administering of the Whole Loan in accordance with the provisions of this Agreement without diminution of such obligation
or liability by virtue of such Sub-Servicing Agreements or arrangements or by virtue of indemnification from the Depositor

 

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or
any other Person acting as Sub-Servicer (or its agents or Subcontractors) to the same extent and under the same terms and conditions
as if the Master Servicer or the Special Servicer, as applicable, alone was servicing and administering the Whole Loan. Each of
the Master Servicer and the Special Servicer shall be entitled to enter into an agreement with any Sub-Servicer providing for
indemnification of the Master Servicer or the Special Servicer, as applicable, by such Sub-Servicer, and nothing contained in
this Agreement shall be deemed to limit or modify such indemnification, but no such agreement for indemnification shall be deemed
to limit or modify this Agreement.

 

Section 3.03Collection
of Whole Loan Payments. (a) The Master Servicer (with respect to the Whole Loan if it is a Performing Mortgage Loan) and the
Special Servicer (with respect to the Whole Loan if it is a Specially Serviced Loan) shall use reasonable efforts to collect all
payments called for under the terms and provisions of the Whole Loan, and shall follow the Servicing Standard with respect to
such collection procedures; provided, however, that nothing herein contained shall be construed as an express or
implied guarantee by the Master Servicer or the Special Servicer of the collectibility of the Whole Loan. With respect to the
Performing Loan, the Master Servicer shall use its reasonable efforts, consistent with the Servicing Standard, to collect income
statements and rent rolls from the Borrower as required by the Loan Documents and the terms hereof. The Master Servicer shall
provide at least 90 days’ notice (with a copy to the Special Servicer) to the Borrower of Balloon Payments coming due. Consistent
with the foregoing, the Master Servicer (with respect to the Whole Loan if it is a Performing Loan) or the Special Servicer (with
respect to the Whole Loan if it is a Specially Serviced Loan) may in their discretion waive any late payment charge or Default
Interest in connection with any delinquent Monthly Payment or Balloon Payment with respect to the Whole Loan. In addition, the
Special Servicer shall be entitled to take such actions with respect to the collection of payments on the Whole Loan as is permitted
or required under this Agreement.

 

Section 3.04Collection
of Taxes, Assessments and Similar Items; Escrow Accounts. (a) The Master Servicer shall maintain accurate records with respect
to the Mortgaged Property reflecting the status of taxes, assessments and other similar items that is or may become a lien thereon
and the status of insurance premiums payable with respect thereto. If the Whole Loan is a Specially Serviced Loan, the Special
Servicer shall use its reasonable efforts, consistent with the Servicing Standard, to collect income statements and rent rolls
from Borrower as required by the Loan Documents. The Special Servicer, in the case of an REO Loan, and the Master Servicer, in
the case of the Whole Loan, shall use reasonable efforts consistent with the Servicing Standard to, from time to time, (i) obtain
all bills for the payment of such items (including renewal premiums), and (ii) effect, or, if the Special Servicer, to use reasonable
efforts to cause the Master Servicer to effect, payment of all such bills with respect to the Mortgaged Property prior to the
applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under the terms of
the Loan Documents. If the Borrower fails to make any such payment on a timely basis or collections from the Borrower are insufficient
to pay any such item before the applicable penalty or termination date, the Master Servicer shall advance the amount of any shortfall
as a Property Advance unless the Master Servicer determines in accordance with the Servicing Standard that such Advance would
be a Nonrecoverable Advance (provided that with respect to advancing insurance premiums or delinquent tax assessments the
Master Servicer shall comply with the provisions of Section 3.21(d) of this Agreement). The Master Servicer shall be entitled
to

 

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reimbursement of Property Advances, with interest thereon at the Advance Rate, that it makes pursuant to this Section 3.04
of this Agreement from amounts received on or in respect of the Whole Loan respecting which such Advance was made or if such
Advance has become a Nonrecoverable Advance, to the extent permitted by Section 3.06 of this Agreement. No costs incurred
by the Master Servicer in effecting the payment of taxes and assessments on the Mortgaged Property shall, for the purpose of calculating
distributions to Certificateholders, be added to the amount owing under the Whole Loan, notwithstanding that the terms of the
Whole Loan so permit.

 

(b)          The Master Servicer shall
segregate and hold all funds collected and received constituting Escrow Payments separate and apart from any of its own funds and
general assets and shall establish and maintain one or more segregated custodial accounts (each, an “Escrow Account”)
into which all Escrow Payments shall be deposited within two (2) Business Days after receipt of properly identified funds and maintained
in accordance with the requirements of the Whole Loan and in accordance with the Servicing Standard. The Master Servicer shall
also deposit into each Escrow Account any amounts representing losses on Permitted Investments to the extent required pursuant
to Section 3.07(b) of this Agreement and any Insurance Proceeds or Liquidation Proceeds which are required to be applied
to the restoration or repair of the Mortgaged Property pursuant to the Whole Loan. Escrow Accounts shall be Eligible Accounts (except
to the extent the Loan Documents require it to be held in an account that is not an Eligible Account); provided, however,
that in the event the ratings of the financial institution holding such account are downgraded to a ratings level below that of
an Eligible Account (except to the extent the Loan Documents require it to be held in an account that is not an Eligible Account),
the Master Servicer shall have thirty (30) Business Days (or such longer time as confirmed by a No Downgrade Confirmation, obtained
at the expense of the Master Servicer relating to the Certificates) to transfer such account to an Eligible Account. Escrow Accounts
shall be entitled, “Wells Fargo Bank, National Association, as Master Servicer, on behalf of Wilmington Trust, National Association,
as Trustee, for the benefit of the Holders of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates and the
Borrower and the Companion Loan Holders”. Withdrawals from an Escrow Account may be made by the Master Servicer only:

 

(i)            to effect
timely payments of items constituting Escrow Payments for the Mortgage;

 

(ii)           to transfer
funds to the Collection Account (or any sub-account thereof) to reimburse the Master Servicer or the Trustee for any Property Advance
(with interest thereon at the Advance Rate) relating to Escrow Payments, but only from amounts received with respect to the Whole
Loan which represent late collections of Escrow Payments thereunder;

 

(iii)          for
application to the restoration or repair of the Mortgaged Property in accordance with the Whole Loan and the Servicing Standard;

 

(iv)          to clear
and terminate such Escrow Account upon the termination of this Agreement or pay-off of the Whole Loan;

 

 

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(v)          to pay
from time to time to the Borrower any interest or investment income earned on funds deposited in the Escrow Account if such income
is required to be paid to the Borrower under law or by the terms of the Loan Documents, or otherwise to the Master Servicer; or

 

(vi)         to remove
any funds deposited in an Escrow Account that were not required to be deposited therein or to refund amounts to the Borrower determined
to be overages.

 

(c)           The Master Servicer shall,
as to the Whole Loan (i) maintain accurate records with respect to the Mortgaged Property reflecting the status of real estate
taxes, assessments and other similar items that are or may become a lien thereon and the status of insurance premiums and any ground
rents payable in respect thereof and (ii) use reasonable efforts to obtain, from time to time, all bills for (or otherwise confirm)
the payment of such items (including renewal premiums) and, if the Whole Loan requires the Borrower to escrow for such items, shall
effect payment thereof prior to the applicable penalty or termination date. For purposes of effecting any such payment for which
it is responsible, the Master Servicer shall apply Escrow Payments as allowed under the terms of the Loan Documents (or, if the
Whole Loan does not require the Borrower to escrow for the payment of real estate taxes, assessments, insurance premiums, ground
rents (if applicable) and similar items, the Master Servicer shall use reasonable efforts consistent with the Servicing Standard
to cause the Borrower to comply with the requirement of the Mortgage that the Borrower make payments in respect of such items at
the time they first become due and, in any event, prior to the institution of foreclosure or similar proceedings with respect to
the Mortgaged Property for nonpayment of such items). Subject to Section 3.21 of this Agreement, the Master Servicer shall
timely make a Property Advance to cover any such item which is not so paid, including any penalties or other charges arising from
the Borrower’s failure to timely pay such items.

 

Section 3.05Collection
Account; Distribution Accounts and Interest Reserve Account. (a) The Master Servicer shall establish and maintain a Collection
Account, for the benefit of the Certificateholders, the Companion Loan Holders and the Trustee as the Holder of the Lower-Tier
Regular Interests. The Collection Account shall be established and maintained as an Eligible Account.

 

The Master Servicer shall deposit
or cause to be deposited in the Collection Account within two (2) Business Days following receipt of properly identified funds
of the following payments and collections received or made by or on behalf of it on or with respect to the Whole Loan subsequent
to the Cut-off Date:

 

(i)            all payments
on account of principal on the Whole Loan, including the principal component of all Unscheduled Payments;

 

(ii)           all payments
on account of interest on the Whole Loan (net of the related Servicing Fee Rate), including Default Interest, Prepayment Charges
and the interest component of all Unscheduled Payments;

 

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(iii)          any amounts
required to be deposited pursuant to Section 3.07(b) of this Agreement, in connection with net losses realized on Permitted
Investments with respect to funds held in the Collection Account;

 

(iv)          all Net
REO Proceeds withdrawn from the related REO Account pursuant to Section 3.15(b) of this Agreement;

 

(v)any amounts
received from the Borrower which represent recoveries of Property Protection Expenses or items for which Administrative Advances
were made and are allocable to the Whole Loan, to the extent not permitted to be retained by the Master Servicer as provided herein;

 

(vi)         all Insurance
Proceeds, Condemnation Proceeds and Liquidation Proceeds received in respect of the Whole Loan or REO Property, other than Liquidation
Proceeds that are received in connection with a purchase of the Whole Loan or REO Property that are to be deposited in the Lower
Tier Distribution Account pursuant to Section 9.01 of this Agreement, together with any amounts representing recoveries
of Nonrecoverable Advances in respect of the Whole Loan;

 

(vii)         Penalty
Charges on the Whole Loan to the extent required to offset interest on Advances and Additional Trust Fund Expenses pursuant Section
3.12(d) of this Agreement;

 

(viii)       any amounts
required to be deposited by the Master Servicer or the Special Servicer pursuant to Section 3.08(b) of this Agreement in
connection with losses resulting from a deductible clause in a blanket or master force-placed policy in respect of the Mortgaged
Property;

 

(ix)          any other
amounts required by the provisions of this Agreement (including without limitation, with respect to the Companion Loans or any
mezzanine indebtedness that may exist on a future date, all amounts received pursuant to the cure and purchase rights or reimbursement
obligations set forth in the Co-Lender Agreement, the related mezzanine intercreditor agreement) to be deposited into the Collection
Account by the Master Servicer or Special Servicer;

 

(x)           any Master
Servicer Prepayment Interest Shortfall Amounts in respect of the Trust Loan pursuant to Section 3.17(c) of this Agreement;
and

 

(xi)          any indemnity
payment received from a Trust Loan Seller in connection with its indemnification of the Trust for losses directly related to a
Material Breach or Material Document Defect pursuant to Section 2.03(e) of this Agreement.

 

The foregoing requirements for
deposits in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of
the foregoing, payments in the nature of late payment charges (subject to Section 3.12 and the Co-Lender Agreement), Assumption
Fees, Modification Fees, consent fees, extension fees, demand fees, defeasance fees, beneficiary statement charges and similar
fees need not be deposited in the Collection Account by the Master Servicer or the Special Servicer, as applicable, and, to the

 

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extent permitted by applicable law, the Master Servicer or the Special Servicer, as applicable, in accordance with Section 3.12
hereof, shall be entitled to retain any such charges and fees received with respect to the Trust Loan as additional compensation.

 

In the event that the Master
Servicer deposits in the Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount
from the Collection Account, any provision herein to the contrary notwithstanding.

 

Upon receipt of any of the amounts
described in clauses (i), (ii), (v), (vi), (vii) and (ix) above of this Section 3.05(a)
with respect to the Whole Loan if it is a Specially Serviced Loan but is not an REO Loan, the Special Servicer shall remit such
amounts within one Business Day after receipt thereof (except, if such amounts are not properly identified, the Special Servicer
shall promptly identify such amounts and shall remit such amounts within one Business Day after such identification) to the Master
Servicer for deposit into the Collection Account in accordance with the second paragraph of this Section 3.05 of this Agreement,
unless the Special Servicer determines, consistent with the Servicing Standard, that a particular item should not be deposited
because of a restrictive endorsement or other appropriate reason. Any such amounts received by the Special Servicer with respect
to the REO Property shall be deposited by the Special Servicer into the REO Account and remitted to the Master Servicer for deposit
into the Collection Account pursuant to Section 3.15(b) of this Agreement. With respect to any such amounts paid by check
to the order of the Special Servicer, the Special Servicer shall endorse without recourse or warranty such check to the order of
the Master Servicer and shall promptly deliver any such check to the Master Servicer by overnight courier.

 

(b)           The Certificate Administrator
shall establish and maintain the Lower-Tier Distribution Account in its own name for the benefit of the Trustee, for the benefit
of the Certificateholders, the Companion Loan Holders and the Trustee as the Holder of the Lower-Tier Regular Interests. The Lower-Tier
Distribution Account shall be established and maintained as an Eligible Account or as a sub-account of an Eligible Account.

 

(c)           With respect to each Distribution
Date, the Master Servicer shall deliver to the Certificate Administrator on or before the Servicer Remittance Date Available Funds
then on deposit in the Collection Account after giving effect to withdrawals of funds pursuant to Section 3.06(a) of this
Agreement. Upon receipt from the Master Servicer of such amounts held in the Collection Account, the Certificate Administrator
shall deposit in the Lower-Tier Distribution Account (A) the amount of Available Funds to be distributed pursuant to Section
4.01 of this Agreement hereof, (B) Prepayment Charges to be distributed pursuant to Section 4.01(d) of this Agreement
and (C) in the Interest Reserve Account as part of the Lower-Tier REMIC, the amount of any Withheld Amounts to be deposited pursuant
to Section 3.05(e) of this Agreement.

 

(d)           The Certificate Administrator
shall establish and maintain the Upper-Tier Distribution Account in its own name for the benefit of the Trustee, in trust for the
benefit of the Certificateholders. The Upper-Tier Distribution Account shall be established and maintained as an Eligible Account
or a sub-account of an Eligible Account. Promptly on each Distribution Date, the Certificate Administrator shall withdraw or be
deemed to withdraw from the Lower-Tier Distribution Account and deposit or be deemed to deposit in the Upper-Tier Distribution
Account on or before such date the Lower-Tier Distribution Amount for such Distribution Date

 

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to be distributed in respect of the
Lower-Tier Regular Interests pursuant to Section 4.01(a) of this Agreement on such date.

 

(e)           The Certificate Administrator
shall establish and maintain the Interest Reserve Account in its own name on behalf of the Trustee, in trust for the benefit of
the Certificateholders and the Trustee as the holder of the Lower-Tier Regular Interests. The Interest Reserve Account shall be
established and maintained as an Eligible Account or as a sub-account of an Eligible Account.

 

(f)           On each Servicer Remittance
Date occurring in (i) January of each calendar year that is not a leap year and (ii) February of each calendar year, unless in
either case such Servicer Remittance Date is the final Servicer Remittance Date, the Certificate Administrator shall calculate
the Withheld Amounts. On each such Servicer Remittance Date, the Certificate Administrator shall withdraw or be deemed to withdraw
from the Lower-Tier Distribution Account and deposit or be deemed to deposit in the Interest Reserve Account an amount equal to
the aggregate of the Withheld Amounts calculated in accordance with the previous sentence. If the Certificate Administrator shall
deposit in the Interest Reserve Account any amount not required to be deposited therein, it may at any time withdraw such amount
from the Interest Reserve Account any provision herein to the contrary notwithstanding. On or prior to the Servicer Remittance
Date in March of each calendar year (or in February if the final Distribution Date will occur in such month), the Certificate Administrator
shall transfer to the Lower-Tier Distribution Account the aggregate of all Withheld Amounts on deposit in the Interest Reserve
Account.

 

(g)           Funds in the Collection
Account and the REO Account may be invested in Permitted Investments in accordance with the provisions of Section 3.07 of
this Agreement. Funds in the Distribution Account and the Interest Reserve Account shall remain uninvested.

 

The Master Servicer shall give
written notice to the Depositor, the Trustee, the Certificate Administrator and the Special Servicer of the location and account
number of the Collection Account as of the Closing Date and shall notify the Depositor, the Special Servicer, the Certificate Administrator
and the Trustee, as applicable, in writing prior to any subsequent change thereof. The Certificate Administrator shall give written
notice to the Depositor, the Trustee, the Special Servicer and the Master Servicer of the location and account number of each of
the Distribution Accounts and the Interest Reserve Account as of the Closing Date and shall notify the Depositor, the Trustee,
the Special Servicer and the Master Servicer, as applicable, in writing prior to any subsequent change thereof.

 

(h)           Notwithstanding anything
to the contrary contained herein, with respect to each Due Date prior to contribution of a Companion Loan into a securitization,
on the Master Servicer Remittance Date and following the contribution of a Companion Loan into a securitization, on the earlier
of (a) the Master Servicer Remittance Date or (b) the first Business Day after the “determination date” as such term
or similar term is defined in the Other Pooling and Servicing Agreement (provided, however, that in no event shall
such “determination date” occur prior to (and any such otherwise earlier “determination date” shall be
deemed to occur on) the sixth day of each month or, if such sixth day is not a Business Day, the next succeeding Business Day),
the Master Servicer shall remit, from amounts on deposit in the Collection Account, to each Companion Loan Holder by wire transfer
in immediately available funds to the

 

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account of such Companion Loan Holder or an agent therefor appearing on the Companion Loan
Holder Register on the related date such amounts as are required to be remitted (or, if no such account so appears or information
relating thereto is not provided at least five (5) Business Days prior to the date such amounts are required to be remitted, by
check sent by first class mail to the address of such Companion Loan Holder or its agent appearing on the Companion Loan Holder
Register) the applicable Remittance Amount allocable to such Companion Loan Holder.

 

Section 3.06Permitted
Withdrawals from the Collection Account and the Distribution Accounts; Trust Ledger. (a) The Master Servicer shall maintain
a separate Trust Ledger with respect to the Whole Loan on which it shall make ledger entries as to amounts deposited (or credited)
or withdrawn (or debited) with respect thereto. On each Servicer Remittance Date (or such other date as specified below or on
which funds are available for such purpose as specified below), with respect to the Whole Loan, the Master Servicer shall make
withdrawals from amounts allocated thereto in the Collection Account (and may debit the Trust Ledger and any related sub-ledger))
for the purposes listed below in accordance with the allocation priorities in the Co-Lender Agreement (the order set forth below
not constituting an order of priority for such withdrawals):

 

(i)            on or
before 3:00 p.m. (New York City time) on each Servicer Remittance Date, to remit to the Certificate Administrator the amounts to
be deposited into the Lower-Tier Distribution Account (including without limitation the aggregate of the Available Funds and Prepayment
Charges) which the Certificate Administrator shall then deposit into the Upper-Tier Distribution Account and the Interest Reserve
Account, pursuant to Section 3.05(d) and Section 3.05(c) of this Agreement, respectively;

 

(ii)           to pay
(A) itself, unpaid Servicing Fees (or, with respect to any Excess Servicing Fee Rights, to pay any Excess Servicing Fees to the
holder of such Excess Servicing Fee Rights pursuant to Section 3.12(a) of this Agreement); and the Special Servicer, unpaid
Special Servicing Fees, Liquidation Fees and Workout Fees in respect of the Whole Loan, Specially Serviced Loan or REO Loan, as
applicable, the Master Servicer’s or Special Servicer’s, as applicable, rights to payment of Servicing Fees and Special
Servicing Fees, Liquidation Fees and Workout Fees pursuant to this clause (ii)(A) with respect to the Whole Loan, Specially
Serviced Loan or REO Loan, as applicable, being limited to amounts received on or in respect of the Whole Loan, Specially Serviced
Loan or REO Loan, as applicable (whether in the form of payments, Liquidation Proceeds, Insurance Proceeds or Condemnation Proceeds),
that are allocable as recovery of interest thereon and (B) the Special Servicer, any unpaid Special Servicing Fees, Liquidation
Fees and Workout Fees in respect of a Specially Serviced Loan or an REO Loan, as applicable, remaining unpaid out of general collections
on the Whole Loan, Specially Serviced Loan and REO Property;

 

(iii)          to reimburse
itself or the Trustee, as applicable (in reverse of such order with respect to the Trust Loan), for unreimbursed P&I Advances
with respect to the Trust Loan (other than Nonrecoverable Advances, which are reimbursable pursuant to clause (v) below)
and to reimburse each related Companion Loan Service Provider for unreimbursed Companion Loan Advances with respect to a related
Companion Loan (other than such advance which have been determined to be nonrecoverable, which are reimbursable pursuant to clause
(v) below), the Master Servicer’s, the Trustee’s and the

 

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applicable Serviced Companion Loan Service Provider’s
right to reimbursement pursuant to this clause (iii) being limited to amounts received which represent Late Collections
for the Trust Loan or the related Companion Loan, as applicable (as allocated thereto pursuant to the Co-Lender Agreement), during
the applicable period;

 

(iv)          to reimburse
itself or the Trustee, as applicable (in reverse of such order with respect to the Whole Loan or REO Property), for unreimbursed
Property Advances and Administrative Advances, the Master Servicer’s or the Trustee’s respective rights to receive
payment pursuant to this clause (iv) with respect to the Whole Loan or REO Property being limited to, as applicable, payments
received from the Borrower which represent reimbursements of such Property Advances or Administrative Advances, as applicable,
Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds and REO Proceeds with respect to the Whole Loan or REO Property;

 

(v)          (A) first,
to reimburse itself and the Trustee, as applicable (in reverse of such order with respect to the Whole Loan or REO Property), with
respect to Nonrecoverable Property Advances, second, to reimburse itself and the Trustee, as applicable, and each related
Companion Loan Service Provider (in reverse of such order with respect to the Whole Loan or REO Property) with respect to Nonrecoverable
P&I Advances and nonrecoverable Companion Loan Advances with respect to the Senior Notes, on a pro rata and pari
passu basis (based on the total outstanding principal balance of the Senior Notes), third to reimburse itself and the
Trustee, as applicable (in reverse of such order with respect to the Whole Loan or REO Property) with respect to Nonrecoverable
P&I Advances with respect to the Junior Notes, on a pro rata and pari passu basis (based on the total outstanding
principal balance of the Junior Notes), and fourth, to reimburse itself and the Trustee, as applicable (in reverse of such
order with respect to the Whole Loan or REO Property), with respect to Nonrecoverable Administrative Advances with respect to the
Trust Notes, on a pro rata and pari passu basis (based on the total outstanding principal balance of the Trust Notes),
first, out of Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds and REO Proceeds received on the Whole Loan
and REO Property, second, out of the principal portion of general collections on the Whole Loan and REO Property, and then,
to the extent the principal portion of general collections is insufficient and with respect to such deficiency only, subject to
any election at its sole discretion (or at the Trustee’s sole discretion for the reimbursement of the Trustee) to defer reimbursement
thereof pursuant to this Section 3.06(a) of this Agreement, out of other collections on the Whole Loan and REO Property;
provided that, in the case of Nonrecoverable Property Advances, only to the extent that amounts on deposit in the Collection
Account are insufficient for reimbursement therefor, the Master Servicer shall use commercially reasonable efforts to exercise
on behalf of the Trust the rights of the Trust under the Co-Lender Agreement to obtain reimbursement for a pro rata portion
of such amount allocable to each Companion Loan from the related Companion Loan Holder and (B) to pay itself or the Special Servicer
out of general collections on the Whole Loan and REO Property, with respect to the Whole Loan or REO Property any related earned
Servicing Fee, Special Servicing Fee, Liquidation Fee or Workout Fee, as applicable, that remained unpaid in accordance with clause
(ii) above following a Final Recovery Determination made with respect to the Whole Loan or REO

 

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Property and the deposit into
the Collection Account of all amounts received in connection therewith;

 

(vi)         at such
time as it reimburses itself and the Trustee, as applicable (in reverse of such order with respect to the Whole Loan or REO Property),
for (A) any unreimbursed P&I Advance made with respect to the Trust Loan or any unreimbursed Companion Loan Advances made with
respect to the Companion Loans pursuant to clause (iii) above, to pay itself the Trustee or the applicable Companion Loan
Service Provider, as applicable, any Advance Interest Amounts accrued and payable thereon, (B) any unreimbursed Property Advances
made with respect to the Whole Loan or REO Property or Administrative Advances made with respect to the Trust Loan or REO Property
pursuant to clause (iv) above, to pay itself or the Trustee, as the case may be, any Advance Interest Amounts accrued and
payable thereon or (C) any Nonrecoverable Advances (or nonrecoverable Companion Loan Advances) made with respect to the Trust Loan
or Whole Loan, as applicable, or REO Property pursuant to clause (v) above, to pay itself, the Trustee or the applicable
Companion Loan Service Provider, as the case may be, any Advance Interest Amounts (or interest on Companion Loan Advances) accrued
and payable thereon, in each case first from Penalty Charges as provided in Section 3.12(d) and then from general collections;
provided that, in the case of (A) above, such party’s right to reimbursement pursuant to this clause (vii)
shall be limited to amounts on deposit in the Collection Account allocable to the Trust Loan or the related Companion Loan for
which the advance was made;

 

(vii)         to reimburse
itself, the Special Servicer, the Custodian, the Certificate Administrator or the Trustee, as the case may be, for any unreimbursed
expenses reasonably incurred by such Person in respect of any Breach or Defect giving rise to a repurchase obligation of the Trust
Loan Sellers under Section 6 of each Trust Loan Purchase Agreements, including, without limitation, any expenses arising out of
the enforcement of the repurchase obligation, together with interest thereon at the Advance Rate, each such Person’s right
to reimbursement pursuant to this clause (vii) with respect to the Trust Loan subject to the following: (a) if the Repurchase
Price is paid for the Trust Loan, then such Person’s right to reimbursement shall be limited to that portion of the Repurchase
Price that represents such expense in accordance with clause (e) of the definition of Repurchase Price, or (b) if no Repurchase
Price or an indemnity payment pursuant to Section 2.03(e) is paid and proceedings are instituted to enforce the Trust Loan
Sellers’ payment or performance pursuant to each Trust Loan Purchase Agreement, then such Person shall be entitled to reimbursement
from the Trust following the adjudication of such proceedings in favor of the Trust Loan Sellers or settlement of the Breach or
Defect claim with respect to collections relating to the Trust Loan;

 

(viii)       
to pay itself all Prepayment Interest Excesses on the Whole Loan (if and to the extent any such Prepayment Interest Excess
exceeds the amount of any Master Servicer Prepayment Interest Shortfalls calculated pursuant to Section 3.17(c) of
this Agreement);

 

(ix)          (A) to
pay itself, as additional Servicing Compensation in accordance with Section 3.12(a) of this Agreement, (1) interest and
investment income earned in respect of amounts relating to the Trust Fund held in the Collection Account as provided in

 

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Section
3.12(b) of this Agreement (but only to the extent of the net investment earnings with respect to such Collection Account for
any period from any Distribution Date to the immediately succeeding Servicer Remittance Date) and (2) Penalty Charges on the Whole
Loan so long as it is not a Specially Serviced Loan or REO Loan, but only to the extent collected from the Borrower and only to
the extent that all amounts then due and payable with respect to the Whole Loan have been paid and are not needed to pay interest
on Advances or Companion Loan Advances in accordance with Section 3.12 and/or pay or reimburse the Trust for Additional
Trust Fund Expenses incurred with respect to the Whole Loan during or prior to the related Collection Period (including Special
Servicing Fees, Workout Fees or Liquidation Fees); and (B) to pay the Special Servicer, as additional servicing compensation in
accordance with Section 3.12(c) of this Agreement, Penalty Charges on the Whole Loan so long as it is a Specially Serviced
Loan or REO Loan, but only to the extent collected from the Borrower and only to the extent that all amounts then due and payable
with respect to the Specially Serviced Loan have been paid and are not needed to pay interest on Advances or Additional Trust Fund
Expenses (including Special Servicing Fees, Workout Fees or Liquidation Fees), all in accordance with Section 3.12;

 

(x)           to pay
itself, the Special Servicer, the Depositor or any of their respective directors, officers, members, managers, employees and agents,
as the case may be, any amounts payable to any such Person pursuant to Section 6.03(a) of this Agreement;

 

(xi)          to pay
for the cost of the Opinions of Counsel contemplated by Sections 3.10(d), 3.10(e), 3.15(a), 3.15(b)
and 10.08 of this Agreement;

 

(xii)         to pay
out of general collections on the Whole Loan and REO Property any and all federal, state and local taxes imposed on the Upper-Tier
REMIC, the Lower-Tier REMIC or any of their assets or transactions, together with all incidental costs and expenses, to the extent
that none of the Master Servicer, the Special Servicer or the Trustee is liable therefor pursuant to this Agreement;

 

(xiii)        to
reimburse the Trustee, the Custodian or the Certificate Administrator out of general collections on the Whole Loan and REO Property
for expenses incurred by and reimbursable to it by the Trust Fund;

 

(xiv)        to pay
any Person permitted to purchase the Trust Loan under Section 3.16 of this Agreement with respect to the Trust Loan, if
any, previously purchased by such Person pursuant to this Agreement, all amounts received thereon subsequent to the date of purchase
relating to periods after the date of purchase;

 

(xv)         to pay
to itself, the Special Servicer, the Trustee, the Certificate Administrator, the Custodian or the Depositor, as the case may be,
any amount specifically required to be paid to such Person at the expense of the Trust Fund under any provision of this Agreement
to which reference is not made in any other clause of this Section 3.06(a) of this Agreement, it being acknowledged that
this clause (xv) shall not be construed to modify any limitation or requirement otherwise set forth in this Agreement as
to the time at which any Person is entitled to payment or reimbursement of

 

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any amount or as to the funds from which any such payment
or reimbursement is permitted to be made;

 

(xvi)        to withdraw
from the Collection Account any sums deposited therein in error and pay such sums to the Persons entitled thereto;

 

(xvii)       to
pay from time to time to itself in accordance with Section 3.07(b) of this Agreement any interest or investment income earned
on funds deposited in the Collection Account;

 

(xviii)      [Reserved];

 

(xix)         to pay
itself, the Special Servicer or the Trust Loan Sellers, as the case may be, with respect to the Trust Loan, if any, previously
purchased by such Person pursuant to or as contemplated by this Agreement, all amounts received on the Trust Loan subsequent to
the date of purchase;

 

(xx)          to pay
to the Certificate Administrator, the Trustee, the Custodian or any of their directors, officers, employees, representatives and
agents, as the case may be, any amounts payable or reimbursable to any such Person pursuant to Section 8.05(d) of this Agreement;

 

(xxi)         pursuant
to the CREFC® License Agreement, to pay the CREFC® License Fee to CREFC® on a monthly
basis;

 

(xxii)        to
clear and terminate the Collection Account at the termination of this Agreement pursuant to Section 9.01 of this Agreement
; and

 

(xxiii)       to make
remittances each month in an aggregate amount of immediately available funds equal to the Remittance Amount to the Companion Loan
Holders in accordance with Section 3.05(h) and in accordance with the Co-Lender Agreement, including amounts to be remitted
to the Companion Loan Holders or the Companion Loan Servicer Providers under clauses (iii), (v) and (vi);
provided that Liquidation Proceeds relating to the repurchase of a Companion Loan by the related seller thereof shall be
remitted solely to the holder of such Companion Loan, as the case may be, and Liquidation Proceeds relating to the repurchase of
a Trust Loan related to the Whole Loan by the related Trust Loan Seller shall be remitted solely to the Collection Account.

 

For the avoidance of doubt, and
notwithstanding the foregoing provisions of this Section 3.06(a), any such amounts payable from the Collection Account to
the Special Servicer, the Certificate Administrator, the Trustee or to itself for which the Master Servicer (or the Trustee) is
required to advance as an Administrative Advance shall be paid from Administrative Advances therefor deposited into the Collection
Account (or deemed deposited into the Collection Account if such payment is advanced by the Master Servicer (or the Trustee) directly
to the party entitled to such payment).

 

Upon written request, the Master
Servicer shall provide to the Certificate Administrator such records and any other information in the possession of the Master
Servicer to

 

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enable the Certificate Administrator to determine the amounts attributable to the Lower-Tier REMIC.

 

The Master Servicer shall pay
to the Trustee, the Certificate Administrator or the Special Servicer from the Collection Account amounts permitted to be paid
to the Trustee, the Certificate Administrator or the Special Servicer therefrom, promptly upon receipt of a certificate of a Responsible
Officer of the Trustee, a Responsible Officer of the Certificate Administrator or a Servicing Officer of the Special Servicer,
as applicable, describing the item and amount to which such Person is entitled (unless such payment to the Trustee, the Certificate
Administrator or the Special Servicer, as the case may be, is specifically required pursuant to this Agreement and the timing and
the amount of payment is specified in, or calculable pursuant to, this Agreement, in which case a certificate is not required).
The Master Servicer may rely conclusively on any such certificate and shall have no duty to recalculate the amounts stated therein.

 

The Trustee, the Certificate
Administrator, the Custodian, the Special Servicer, the Master Servicer and CREFC® shall in all cases have a right
prior to the Certificateholders to any funds on deposit in the Collection Account from time to time for the reimbursement or payment
of the Servicing Compensation (including investment income), Trustee/Certificate Administrator Fees, Special Servicing Compensation
(including investment income), the CREFC® License Fee, Advances, Advance Interest Amounts (for the Master Servicer
or the Trustee), their respective indemnification payments (if any) pursuant to Section 6.03, Section 8.05 or Section
10.02 of this Agreement (for each of such Persons other than CREFC®), their respective expenses hereunder to
the extent such fees and expenses are to be reimbursed or paid from amounts on deposit in the Collection Account pursuant to this
Agreement. For the avoidance of doubt, any fees or expenses (including legal fees) for which a party is to be indemnified pursuant
to Section 6.03 herein may be submitted directly to the Trust Fund to be paid from amounts on deposit in the Collection
Account. In addition, the Certificate Administrator, the Trustee, the Special Servicer and the Master Servicer shall in all cases
have a right prior to the Certificateholders to any funds on deposit in the Collection Account from time to time for the reimbursement
or payment of any federal, state or local taxes imposed on either Trust REMIC.

 

Upon the determination that a
previously made Advance is a Nonrecoverable Advance, to the extent that the reimbursement thereof would exceed the full amount
of the principal portion of general collections on the Whole Loan deposited in the Collection Account and available for distribution
on the next Distribution Date, the Master Servicer or the Trustee, each at its own option and in its sole discretion, as applicable,
instead of obtaining reimbursement for the remaining amount of such Nonrecoverable Advance pursuant to Section 3.06(a) or
Section 3.06(b) of this Agreement immediately, may elect to refrain from obtaining such reimbursement for such portion of
the Nonrecoverable Advance during the Collection Period ending on the then-current Determination Date for successive one-month
periods for a total period not to exceed 12 months. If the Master Servicer or the Trustee makes such an election at its sole option
and in its sole discretion to defer reimbursement with respect to all or a portion of a Nonrecoverable Advance (together with interest
thereon), then such Nonrecoverable Advance (together with interest thereon) or portion thereof shall continue to be fully reimbursable
in the subsequent Collection Period (subject, again, to the same sole discretion to

 

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elect to defer; it is acknowledged that, in
such a subsequent period, such Nonrecoverable Advance shall again be payable first from Principal Collections as described
above prior to payment from other collections). In connection with a potential election by the Master Servicer or the Trustee to
refrain from the reimbursement of a particular Nonrecoverable Advance or portion thereof during the one-month Collection Period
ending on the related Determination Date for any Distribution Date, the Master Servicer or the Trustee shall further be authorized
(in its sole discretion) to wait for Principal Collections on the Trust Loan and the Companion Loans to be received before making
its determination of whether to refrain from the reimbursement of a particular Nonrecoverable Advance (or portion thereof) until
the end of such Collection Period; provided, however, the Master Servicer or the Trustee shall give notice of its
election to the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website
pursuant to Section 3.14(d) of this Agreement), at least 15 days prior to any reimbursement to it of Nonrecoverable Advances
from amounts in the Collection Account allocable to interest on the Whole Loan unless (1) the Master Servicer or the Trustee determines
in its sole discretion that waiting 15 days after such a notice could jeopardize its ability to recover Nonrecoverable Advances,
(2) changed circumstances or new or different information becomes known to the Master Servicer or the Trustee that could affect
or cause a determination of whether any Advance is a Nonrecoverable Advance, whether to defer reimbursement of a Nonrecoverable
Advance or the determination in clause (1) above, or (3) the Master Servicer or the Trustee has not timely received from the Certificate
Administrator information requested by the Master Servicer or the Trustee to consider in determining whether to defer reimbursement
of a Nonrecoverable Advance; provided that, if clause (1), (2) or (3) apply, the Master Servicer or the Trustee shall give
notice of an anticipated reimbursement to it of Nonrecoverable Advances from amounts in the Collection Account allocable to interest
on the Whole Loan as soon as reasonably practicable in such circumstances to the 17g-5 Information Provider (who shall promptly
post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement). Neither
the Master Servicer nor the Trustee shall have any liability for any loss, liability or expense resulting from any notice provided
to each Rating Agency contemplated by the immediately preceding sentence.

 

The foregoing shall not, however,
be construed to limit any liability that may otherwise be imposed on such Person for any failure by such Person to comply with
the conditions to making such an election under this Section 3.06(a) or to comply with the terms of this Section 3.06(a)
and the other provisions of this Agreement that apply once such an election, if any, has been made. If the Master Servicer or the
Trustee, as applicable, determines, in its sole discretion, that it should recover the Nonrecoverable Advances without deferral
as described above, then the Master Servicer or the Trustee, as applicable, shall be entitled to immediate reimbursement of Nonrecoverable
Advances with interest thereon at the Advance Rate from all amounts in the Collection Account for such Distribution Date. Any such
election by any such party to refrain from reimbursing itself or obtaining reimbursement for any Nonrecoverable Advance or portion
thereof with respect to any one or more Collection Periods shall not limit the accrual of interest at the Advance Rate on such
Nonrecoverable Advance for the period prior to the actual reimbursement of such Nonrecoverable Advance. The Master Servicer’s
or the Trustee’s, as applicable, election to defer reimbursement of such Nonrecoverable Advances as set forth above is an
accommodation to the Certificateholders and the Companion Loan Holders and shall not be construed as an obligation on the part
of the Master Servicer or the Trustee, as applicable, or a right of the Certificateholders or the Companion Loan Holders. Nothing
herein

 

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shall be deemed to create in the Certificateholders or the Companion Loan Holders a right to prior payment of distributions
over the Master Servicer’s or the Trustee’s, as applicable, right to reimbursement for Advances (deferred or otherwise).
In all events, the decision to defer reimbursement or to seek immediate reimbursement of Nonrecoverable Advances shall be deemed
to be (a) in accordance with the Servicing Standard with respect to the Master Servicer and (b) in accordance with good faith business
judgment, with respect to the Trustee, and in each case, neither the Master Servicer, the Trustee nor the other parties to this
Agreement shall have any liability to one another or to any of the Certificateholders or the Companion Loan Holders for any such
election that such party makes as contemplated by this Section 3.06(a) or for any losses, damages or other adverse economic
or other effects that may arise from such an election.

 

None of the Master Servicer,
the Special Servicer or the Trustee shall be permitted to reverse any other Person’s determination that an Advance is a Nonrecoverable
Advance.

 

If the Master Servicer or the
Trustee, as applicable, is reimbursed out of general collections for any unreimbursed Advances that are determined to be Nonrecoverable
Advances (together with any interest accrued and payable thereon at the Advance Rate), then (for purposes of calculating distributions
on the Certificates) such reimbursement and payment of interest shall be deemed to have been made: first, out of the Principal
Distribution Amount, which, but for its application to reimburse a Nonrecoverable Advance and/or to pay interest thereon at the
Advance Rate, would be included in Available Funds for any subsequent Distribution Date and, second, out of other amounts
which, but for their application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in Available
Funds for any subsequent Distribution Date.

 

(b)          Notwithstanding anything
to the contrary contained herein, with respect to each Companion Loan, the Master Servicer shall withdraw from the related Collection
Account and remit to the related Companion Loan Holders, within one (1) Business Day of receipt of properly identified funds, any
amounts that represent Late Collections or Principal Prepayments on such Companion Loan or any successor REO Loan with respect
thereto (exclusive of any portion of such amount payable or reimbursable to any third party in accordance with the Co-Lender Agreement
or this Agreement), unless such amount would otherwise be included in the monthly remittance to the holder of such Companion Loan
for such month; provided, however, that to the extent any such amounts are received after 3:00 p.m. Eastern time
on any given Business Day, the Master Servicer shall use commercially reasonable efforts to remit such Late Collections or Principal
Prepayments to the applicable Other 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.

 

If the Master Servicer fails,
as of 5:00 p.m. (New York City time) on any Servicer Remittance Date or any other date a remittance is required to be made, to
remit to the Certificate Administrator (in respect of the Trust Loan) or the Companion Loan Holders (in respect of the Companion
Loans) any amounts required to be so remitted hereunder by such date (including any P&I Advance pursuant to Section 4.07
and any Excess Liquidation Proceeds allocable to the Companion Loans pursuant to Section 4.01(e)), the Master Servicer shall
pay to the Certificate Administrator (in respect of the Trust Loan) or the Companion Loan Holders (in respect of the Companion
Loans), for the account of the Certificate Administrator (in respect of the Trust 

 

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Loan) or related Companion Loan Holder (in respect
of each Companion Loan), interest, calculated at the Prime Rate, on such amount(s) not timely remitted, from the time such payment
was required to be made (without regard to any grace period) until (but not including) the date such late payment is received by
the Certificate Administrator or the related Companion Loan Holder, as applicable.

 

(c)         On each Servicer Remittance
Date, all net income and gain realized from investment of funds to which the Master Servicer or the Special Servicer is entitled
pursuant to Section 3.07(b) of this Agreement shall be subject to withdrawal by the Master Servicer or the Special Servicer,
as applicable.

  

(d)         If amounts required to
pay the expenses allocable to the Companion Loans exceed amounts on deposit in the Collection Account and the Master Servicer,
the Special Servicer, the Certificate Administrator or the Trustee, as applicable, shall have sought reimbursement from the Trust
Fund with respect to such expenses allocable to the Companion Loans, the Master Servicer or Special Servicer, as applicable, shall
seek (on behalf of the Trust Fund, subject to the Co-Lender Agreement) payment or reimbursement for the pro rata portion
of such expenses allocable to each Companion Loan from the related Companion Loan Holder or, if such Companion Loan has been deposited
into a securitization, out of general collections in the collection account established pursuant to the related Other Pooling and
Servicing Agreement.

 

(e)          [Reserved].

 

(f)           The Certificate
Administrator, may, from time to time, make withdrawals from the Lower-Tier Distribution Account for any of the following
purposes (the order set forth below shall not indicate any order of priority), in each case to the extent not previously paid
from the Collection Account:

 

(i)           to make
deposits of the Lower-Tier Distribution Amount and the amount of any Prepayment Charges distributable pursuant to Section 4.01(a)
of this Agreement in the Upper-Tier Distribution Account, and to make distributions on the Class LR Certificates pursuant to Section
4.01(a) of this Agreement;

 

(ii)       
  to pay itself, the Trustee and the Custodian respective portions of any accrued but unpaid
Trustee/Certificate Administrator Fees;

 

(iii)     
   to pay itself an amount equal to all net income and gain realized from investment of funds in the Lower-Tier
Distribution Account pursuant to Section 3.07(b) of this Agreement;

 

(iv)       
 to pay to itself, the Trustee, the Custodian or any of their directors, officers, employees, representatives and
agents, as the case may be, any amounts payable or reimbursable to any such Person pursuant to Section 8.05(c) and Section
8.05(d) of this Agreement;

 

(v)      
   to recoup any amounts deposited in the Lower-Tier Distribution Account in error; and

 

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(vi)          to
clear and terminate the Lower-Tier Distribution Account at the termination of this Agreement pursuant to Section 9.01 of
this Agreement.

 

(g)          The Certificate Administrator,
may make withdrawals from the Upper-Tier Distribution Account for any of the following purposes:

 

(i)            to make
distributions to Certificateholders (other than Holders of the Class LR Certificates) on each Distribution Date pursuant to Section
4.01 or 9.01 of this Agreement, as applicable;

 

(ii)           to recoup
any amounts deposited in the Upper-Tier Distribution Account in error; and

 

(iii)          to clear
and terminate the Upper-Tier Distribution Account at the termination of this Agreement pursuant to Section 9.01 of this
Agreement.

 

      Section
3.07  Investment of Funds in the Collection Account, the REO Account, the Lock-Box Accounts, the Cash Collateral Accounts
and the Reserve Accounts. (a) The Master Servicer (with respect to the Collection Account and the Borrower Accounts (as
defined below and subject to the second succeeding sentence)) and the Special Servicer (with respect to any REO Account) may direct
any depository institution maintaining the Collection Account, the Borrower Accounts and the REO Account (each such account, for
purposes of this Section 3.07, an “Investment Account”), to invest the funds in such Investment Account
maintained by it in one or more Permitted Investments that bear interest or are sold at a discount, and that mature, unless payable
on demand, no later than the Business Day preceding the date on which such funds are required to be withdrawn from such Investment
Account pursuant to this Agreement. Any investment of funds on deposit in an Investment Account by the Master Servicer or the
Special Servicer shall be documented in writing and shall provide evidence that such investment is a Permitted Investment which
matures at or prior to the time required hereby or is payable on demand. In the case of any Escrow Account, Lock-Box Account,
Cash Collateral Account or Reserve Account (the “Borrower Accounts”), the Master Servicer shall act upon the
written request of the Borrower or Manager to the extent that the Master Servicer is required to do so under the terms of the
Loan Documents, provided that in the absence of appropriate written instructions from the Borrower or Manager meeting the
requirements of this Section 3.07, the Master Servicer shall have no obligation to, but will be entitled to, direct the
investment of funds in such accounts in Permitted Investments. All such Permitted Investments shall be held to maturity, unless
payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee (in its capacity
as such) or in the name of a nominee of the Trustee. Neither the Certificate Administrator nor the Trustee shall have any responsibility
or liability with respect to the investment directions of the Master Servicer, the Special Servicer, the Borrower or Manager or
any losses resulting therefrom, whether from Permitted Investments or otherwise. The Master Servicer shall have no responsibility or liability with respect to the investment directions of the Special
Servicer, the Certificate Administrator, the Trustee, the Borrower or Manager or any losses resulting therefrom, whether from Permitted
Investments or otherwise. The Special Servicer shall have no responsibility or liability with respect to the investment directions
of the Master Servicer, the Certificate Administrator, the Trustee, the Borrower or Manager or any losses resulting therefrom,
whether from Permitted Investments or 

 

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otherwise. In the event amounts on deposit in an Investment Account are at any time invested
in a Permitted Investment payable on demand, the Master Servicer (or the Special Servicer) shall:

 

      (x)           consistent
with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment
may otherwise mature hereunder in an amount equal to the lesser of (1) all amounts then payable thereunder and (2) the amount required
to be withdrawn on such date; and

 

      (y)          demand payment
of all amounts due thereunder promptly upon determination by the Master Servicer (or the Special Servicer) that such Permitted
Investment would not constitute a Permitted Investment in respect of funds thereafter on deposit in the related Investment Account.

 

      (b)          All income and gain realized
from investment of funds deposited in any Investment Account shall be for the benefit of the Master Servicer (except with respect
to the investment of funds deposited in (i) the Borrower Accounts, which shall be for the benefit of the Borrower to the extent
required under the Loan Documents or applicable law or (ii) the REO Account, which shall be for the benefit of the Special Servicer)
and, if held in the Collection Account or REO Account shall be subject to withdrawal by the Master Servicer or the Special Servicer,
as applicable, in accordance with Section 3.06 or Section 3.15(b) of this Agreement, as applicable. The Master Servicer,
or with respect to the REO Account, the Special Servicer, shall deposit from its own funds into the Collection Account or any REO
Account, as applicable, the amount of any loss incurred in respect of any such Permitted Investment immediately upon realization
of such loss; provided, however, that the Master Servicer or the Special Servicer, as applicable, may reduce the
amount of such payment to the extent it forgoes any investment income in such Investment Account otherwise payable to it. The Master
Servicer shall also deposit from its own funds in the Borrower Account immediately upon realization of such loss the amount of
any loss incurred in respect of Permitted Investments, except to the extent that amounts are invested at the direction of or for
the benefit of the Borrower under the terms of the Loan Documents or applicable law; provided that neither the Master Servicer
nor the Special Servicer shall be required to deposit any loss on an investment of funds in an Investment Account if such loss
is incurred solely as a result of the insolvency of the federal or state chartered depository institution or trust company that
holds such Investment Account, so long as such depository institution or trust company has satisfied the qualifications set forth
in the definition of Eligible Account both (x) at the time the investment was made and (y) 30 days prior to such insolvency.

 

      (c)          Except as otherwise expressly
provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment, or if a default
occurs in any other performance required under any Permitted Investment, in either case as a result of an action or inaction of
the Master Servicer or the Special Servicer, as applicable, the Trustee may, and upon the request of Holders of Certificates entitled
to a majority of the Voting Rights allocated to any Class shall, take such action as may be appropriate to enforce such payment
or performance, including the institution and prosecution of appropriate proceedings. In the event the Trustee takes any such action,
(i) the Master Servicer, if such Permitted Investment was for the benefit of the Master Servicer or (ii) the Special Servicer,
if such Permitted Investment was for the benefit of the Special Servicer, shall pay or reimburse the Trustee for all reasonable
out-

 

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of-pocket expenses, disbursements and advances incurred or made by the Trustee in connection therewith.

 

      For the avoidance of doubt, the
Collection Account, each REO Account, the Interest Reserve Account and the Lower-Tier Distribution Account (including interest,
if any, earned on the investment of funds in such accounts) will be owned by the Lower-Tier REMIC, and the Upper-Tier Distribution
Account shall be owned by the Upper-Tier REMIC, each for federal income tax purposes.

 

      Section
3.08  Maintenance of Insurance Policies and Errors and Omissions and Fidelity Coverage. (a) Unless the Whole Loan is an REO
Loan, the Master Servicer shall use efforts consistent with the Servicing Standard to cause the Borrower to maintain the following
insurance coverage (including identifying the extent to which Borrower is maintaining insurance coverage and, if the Borrower
does not so maintain such coverage, the Master Servicer will itself cause to be maintained with Qualified Insurers) for the Mortgaged
Property: (x) except where the Loan Documents permit the Borrower to rely on self-insurance provided by a tenant, a fire and casualty
extended coverage insurance policy, which does not provide for reduction due to depreciation, in an amount that is at least equal
to the lesser of (i) the full replacement cost of improvements securing the Whole Loan or (ii) the Stated Principal Balance of
the Whole Loan, but, in any event, in an amount sufficient to avoid the application of any co-insurance clause and (y) all other
insurance coverage (including, but not limited to, coverage for acts of terrorism) that is required, subject to applicable law,
under the Loan Documents; provided that:

 

(i)           the Master
Servicer shall not be required to maintain any earthquake or environmental insurance policy on the Mortgaged Property unless the
Trustee has an insurable interest and such insurance policy (x) was in effect at the time of the origination of the Whole Loan
or (y) was required by the Loan Documents and is available at commercially reasonable rates, provided that the Master Servicer
shall require the Borrower to maintain such insurance in the amount, in the case of clause (x), maintained at origination,
and in the case of clause (y), required by the Whole Loan to the extent such amounts are available at commercially reasonable
rates and to the extent the Trustee has an insurable interest;

 

(ii)          if and
to the extent that the Loan Document grants the lender thereunder any discretion (by way of consent, approval or otherwise) as
to the insurance provider from whom the Borrower is to obtain the requisite insurance coverage, the Master Servicer shall (to the
extent consistent with the Servicing Standard) require the Borrower to obtain the requisite insurance coverage from Qualified Insurers;

 

(iii)         the
Master Servicer shall have no obligation beyond using its efforts consistent with the Servicing Standard to cause the Borrower
to maintain the insurance required to be maintained under the Loan Documents; provided, however, that this clause
shall not limit the Master Servicer’s obligation to obtain and maintain a force-placed insurance policy, as provided herein;

 

(iv)         except
as provided below (including under clause (vi) below), in no event shall the Master Servicer be required to cause the Borrower
to maintain, or itself obtain,

 

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insurance coverage to the extent that the failure of the Borrower to maintain insurance coverage
is an Acceptable Insurance Default (as determined by the Special Servicer);

 

(v)          to the
extent that the Master Servicer itself is required to maintain insurance that the Borrower does not maintain, the Master Servicer
will not be required to maintain insurance other than what is available to the Master Servicer on a force-placed basis at commercially
reasonable rates, and only to the extent the Trustee as lender has an insurable interest thereon; and

 

(vi)         any explicit
terrorism insurance requirements contained in the Loan Documents shall be enforced by the Master Servicer in accordance with the
Servicing Standard, unless the Special Servicer has consented to a waiver (including a waiver to permit the Master Servicer to
accept insurance that does not comply with specific requirements contained in the Loan Documents) in writing of that provision
in accordance with the Servicing Standard; provided that the Special Servicer shall promptly notify the Master Servicer
in writing of such waiver.

 

      The Master Servicer shall notify
the Special Servicer, the Certificate Administrator and the Trustee if the Master Servicer determines in accordance with the Servicing
Standard that the Borrower has failed to maintain insurance required under the Loan Documents and such failure materially and adversely
affects the interests of the Certificateholders or if the Borrower has notified the Master Servicer in writing that the Borrower
does not intend to maintain such insurance and that the Master Servicer has determined in accordance with the Servicing Standard
that such failure materially and adversely affects the interests of the Certificateholders.

 

      Subject to Section 3.15(b)
of this Agreement, if the Mortgaged Property is an REO Property, and only if and to the extent the Trustee has an insurable interest,
the Special Servicer shall use efforts, consistent with the Servicing Standard, to maintain (subject to the right of the Special
Servicer to direct the Master Servicer to make a Property Advance for the costs associated with coverage that the Special Servicer
determines to maintain, in which case the Master Servicer shall make such Property Advance) with Qualified Insurers to the extent
reasonably available at commercially reasonable rates and to the extent the Trustee has an insurable interest, (a) a fire and casualty
extended coverage insurance policy, which does not provide for reduction due to depreciation, in an amount that is at least equal
to the lesser of the full replacement value of the Mortgaged Property or the Stated Principal Balance of the Whole Loan or the
REO Loan, as applicable (or such greater amount of coverage required by the Loan Documents (unless such amount is not available)),
but, in any event, in an amount sufficient to avoid the application of any co-insurance clause, (b) a comprehensive general liability
insurance policy with coverage comparable to that which would be required under prudent lending requirements and in an amount not
less than $1.0 million per occurrence, and (c) to the extent consistent with the Servicing Standard, a business interruption or
rental loss insurance covering revenues or rents for a period of at least 18 months; provided, however, that the
Special Servicer shall not be required in any event to maintain or obtain insurance coverage described in this paragraph beyond
what is reasonably available at a commercially reasonable rate and consistent with the Servicing Standard.

 

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   All such insurance policies maintained
as described above shall contain (if they insure against loss to property) a “standard” mortgagee clause, with loss
payable to the Master Servicer (on behalf of the Trustee on behalf of Certificateholders and the Companion Loan Holders), or shall
name the Trustee as the insured, with loss payable to the Special Servicer on behalf of the Trustee (on behalf of Certificateholders
and the Companion Loan Holders) (in the case of insurance maintained if the Mortgaged Property is an REO Property). Any amounts
collected by the Master Servicer or Special Servicer, as applicable, under any such policies (other than amounts to be applied
to the restoration or repair of the Mortgaged Property or REO Property or amounts to be released to the Borrower, in each case
in accordance with the Servicing Standard) shall be deposited in the Collection Account, subject to withdrawal pursuant to Section
3.06 of this Agreement, in the case of amounts received in respect of the Whole Loan, or in the REO Account of the Special
Servicer, subject to withdrawal pursuant to Section 3.15 of this Agreement, in the case of amounts received in respect of
the REO Property. Any cost incurred by the Master Servicer or the Special Servicer in maintaining any such insurance shall not,
for purposes hereof, including calculating monthly distributions to Certificateholders or Companion Loan Holders, be added to the
Stated Principal Balance of the Whole Loan, notwithstanding that the terms of the Loan Agreement may so permit; provided,
however, that this sentence shall not limit the rights of the Master Servicer or Special Servicer on behalf of the Trust
Fund to enforce any obligations of the Borrower under the Whole Loan. Any costs incurred by the Master Servicer in maintaining
insurance policies in respect of the Whole Loan or a Specially Serviced Loan (other than the REO Property) (i) if the Borrower
defaults on its obligation to do so, shall be advanced by the Master Servicer as a Property Advance and will be charged to the
Borrower and (ii) shall not, for purposes of calculating monthly distributions to Certificateholders, be added to the Stated Principal
Balance of the Whole Loan, notwithstanding that the terms of the Whole Loan may so permit. Any cost incurred by the Special Servicer
in maintaining any such insurance policies with respect to the REO Property shall be an expense of the Trust Fund (allocated in
accordance with the allocation provisions of the Co-Lender Agreement) payable out of the REO Account or, if the amount on deposit
therein is insufficient therefor, advanced by the Master Servicer as a Property Advance (or paid from the Collection Account if
the Master Servicer determines such Advance would be a Nonrecoverable Advance, subject to Section 3.21(d) of this Agreement).

 

    (b)          If either:

 

    (x) the Master Servicer
or Special Servicer obtains and maintains, or causes to be obtained and maintained, a blanket policy or master force-placed policy
insuring against hazard losses on all of the Mortgaged Property or REO Property, as applicable, then, to the extent such policy

 

        (i) is obtained from
a Qualified Insurer, and

 

        (ii) provides protection
equivalent to the individual policies otherwise required, or

 

      (y)  the Master Servicer
or Special Servicer has long-term unsecured debt obligations or deposit accounts that are rated not lower than “A-”
by S&P, and the Master Servicer or Special Servicer self-insures for its obligation to maintain the individual policies otherwise
required,

 

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then the Master Servicer or the Special Servicer,
as the case may be, shall conclusively be deemed to have satisfied its obligation to cause hazard insurance to be maintained on
the Mortgaged Property or REO Property, as applicable.

 

Such a blanket or master force-placed
policy may contain a deductible clause (not in excess of a customary amount), in which case the Master Servicer or Special Servicer,
as the case may be, that maintains such policy shall, if there shall not have been maintained on the Mortgaged Property or REO
Property thereunder a hazard insurance policy complying with the requirements of Section 3.08(a) of this Agreement, and
there shall have been one or more losses that would have been covered by such an individual policy, promptly deposit into the Collection
Account, from its own funds, the amount not otherwise payable under the blanket or master force-placed policy in connection with
such loss or losses because of such deductible clause to the extent that any such deductible exceeds the deductible limitation
that pertained to the Whole Loan (or, in the absence of any such deductible limitation, the deductible limitation for an individual
policy which is consistent with the Servicing Standard). The Master Servicer and Special Servicer, as the case may be, shall prepare
and present, on behalf of itself, the Trustee and Certificateholders and the Companion Loan Holders claims under any such blanket
or master force-placed policy maintained by it in a timely fashion in accordance with the terms of such policy. If the Master Servicer
or Special Servicer, as applicable, causes the Mortgaged Property or REO Property to be covered by such “force-placed”
insurance policy, the incremental costs of such insurance applicable to the Mortgaged Property or REO Property (i.e., other
than any minimum or standby premium payable for such policy whether or not the Mortgaged Property or REO Property is covered thereby)
shall be paid as a Property Advance.

 

      (c)          If the Whole Loan is subject
to an Environmental Insurance Policy, and the Master Servicer has actual knowledge of any event giving rise to a claim under an
Environmental Insurance Policy, the Master Servicer shall notify the Special Servicer to such effect and the Master Servicer shall
take reasonable actions as are in accordance with the Servicing Standard and the terms and conditions of such Environmental Insurance
Policy to make a claim thereunder and achieve the payment of all amounts to which the Trust is entitled thereunder. If the Whole
Loan becomes a Specially Serviced Loan or an REO Loan and is subject to an Environmental Insurance Policy, if the Special Servicer
has actual knowledge of any event giving rise to a claim under an Environmental Insurance Policy, such Special Servicer shall take
reasonable actions as are in accordance with the Servicing Standard and the terms and conditions of such Environmental Insurance
Policy to make a claim thereunder and achieve the payment of all amounts to which the Trust, on behalf of the Certificateholders
and the Companion Loan Holders, is entitled thereunder. Any legal fees or other out-of-pocket costs incurred in accordance with
the Servicing Standard in connection with any claim under an Environmental Insurance Policy described above (whether by the Master
Servicer or Special Servicer) shall be paid by, and reimbursable to, the Master Servicer as a Property Advance.

 

      (d)          The Master Servicer and
Special Servicer shall at all times during the term of this Agreement (or, in the case of the Special Servicer, at all times during
the term of this Agreement during which the Whole Loan is a Specially Serviced Loan or an REO Loan) keep in force with a Qualified
Insurer, a fidelity bond in such form and amount as are consistent with the Servicing Standard. The Master Servicer or Special
Servicer, as applicable, shall be deemed to have complied with the foregoing provision if an Affiliate thereof has such fidelity
bond

 

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coverage and, by the terms of such fidelity bond, the coverage afforded thereunder extends to the Master Servicer or Special
Servicer, as the case may be. Such fidelity bond shall provide that it may not be canceled without ten days’ prior written
notice to the Trustee. So long as the long-term unsecured debt obligations or deposit accounts of the Master Servicer (or its corporate
parent if such insurance is guaranteed by its parent) or the Special Servicer (or its corporate parent if such insurance is guaranteed
by its parent), as applicable, are rated not lower than “A-” by S&P, the Master Servicer or the Special Servicer,
as applicable, may self-insure with respect to the fidelity bond coverage required as described above, in which case it shall not
be required to maintain an insurance policy with respect to such coverage.

 

      The Master Servicer and Special
Servicer, as applicable, shall at all times during the term of this Agreement (or, in the case of the Special Servicer, at all
times during the term of this Agreement during which the Whole Loan is a Specially Serviced Loan or an REO Loan) also keep in force
with a Qualified Insurer a policy or policies of insurance covering loss occasioned by the errors and omissions of its officers
and employees in connection with their servicing obligations hereunder, which policy or policies shall be in such form and amount
as are consistent with the Servicing Standard. The Master Servicer or the Special Servicer, as applicable, shall be deemed to have
complied with the foregoing provisions if an Affiliate thereof has such insurance and, by the terms of such policy or policies,
the coverage afforded thereunder extends to the Master Servicer or Special Servicer, as the case may be. Any such errors and omissions
policy shall provide that it may not be canceled without ten days’ prior written notice to the Trustee. So long as the long-term
unsecured debt obligations or deposit accounts of the Master Servicer (or its corporate parent if such insurance is guaranteed
by its parent) or the Special Servicer (or its corporate parent), as applicable, are rated not lower than “A-” by S&P,
the Master Servicer or the Special Servicer, as applicable, may self-insure with respect to the errors and omissions coverage required
as described above, in which case it shall not be required to maintain an insurance policy with respect to such coverage.

 

      Section
3.09  Enforcement of Due-on-Sale Clauses; Assumption Agreements; Defeasance Provisions. (a) If the Whole Loan
contains a provision in the nature of a “due-on-sale” clause (including, without limitation, sales or transfers
of the Mortgaged Property (in full or part) or the sale, transfer, pledge or hypothecation of direct or indirect interests in
the Borrower or its owners), which by its terms:

 

(i)          provides
that the Whole Loan will (or may at the mortgagee’s option) become due and payable upon the sale or other transfer of an
interest in the Mortgaged Property (including, without limitation, the sale, transfer, pledge or hypothecation of direct or indirect
interests in the Borrower or its owners),

 

(ii)          provides
that the Whole Loan may not be assumed without the consent of the related mortgagee in connection with any such sale or other transfer,
or

 

(iii)        provides
that the Whole Loan may be assumed or transferred without the consent of the mortgagee, provided certain conditions set
forth in the Loan Documents are satisfied,

 

then, for so long as the Trust Loan is included
in the Trust Fund, neither the Master Servicer (with respect to the Whole Loan if it is a Performing Loan) (with the consent of
the Special

 

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Servicer) nor the Special Servicer (with respect to the Whole Loan if it is a Specially Serviced Loan), as applicable,
on behalf of the Trust Fund, shall be required to enforce any such due-on-sale clauses and in connection therewith neither shall
be required to (x) accelerate payments thereon or (y) withhold its consent to such an assumption if (1) such provision is not enforceable
under applicable law or if the Master Servicer (with respect to the Whole Loan if it is a Performing Loan, and with the consent
of the Special Servicer) or the Special Servicer (with respect to the Whole Loan if it is a Specially Serviced Loan or an REO Loan),
as applicable, determines, that the enforcement of such provision is reasonably likely to result in meritorious legal action by
the Borrower or (2) the Master Servicer (with the consent of the Special Servicer) or the Special Servicer, as applicable, determines,
in accordance with the Servicing Standard, that granting such consent would be likely to result in a greater recovery, on a present
value basis (discounting at the related Calculation Rate), than would enforcement of such clause. If the Master Servicer (with
respect to the Whole Loan if it is a Performing Loan and with the consent of the Special Servicer) or the Special Servicer (with
respect to the Whole Loan if it is a Specially Serviced Loan or an REO Loan), as applicable, determines that (A) granting such
consent would be likely to result in a greater recovery, (B) such provision is not legally enforceable, or (C) that the conditions
described in clause (a)(iii) above relating to the assumption or transfer of the Whole Loan have been satisfied, the Master
Servicer (with respect to the Whole Loan if it is a Performing Loan) (with the consent of the Special Servicer) or the Special
Servicer (with respect to the Whole Loan if it is a Specially Serviced Loan or REO Loan) is authorized to take or enter into an
assumption agreement from or with the Person to whom the Mortgaged Property has been or is about to be conveyed, and to release
the original Borrower from liability upon the Whole Loan and substitute the new borrower as obligor thereon, provided that
(a) the credit status of the prospective new borrower is in compliance with the Master Servicer’s or the Special Servicer’s
servicing standards and criteria and the terms of the Mortgage and (b) the Master Servicer (with respect to the Whole Loan if it
is a Performing Loan) or the Special Servicer (with respect to the Whole Loan if it is a Specially Serviced Loan or REO Loan),
as applicable, has received a No Downgrade Confirmation from each the Rating Agencies (or has been deemed to satisfy such requirement).
In addition, with respect to each Companion Loan, neither the Master Servicer nor the Special Servicer shall waive any rights under
a due on sale clause unless it first obtains a No Downgrade Confirmation with respect to the Companion Loan Securities to the extent
required under the related Other Securitization Trust. The Master Servicer and the Special Servicer shall be entitled to rely on
the master servicer and/or the special servicer of the related Other Securitization Trust to determine whether a No Downgrade Confirmation
is required with respect to any related Companion Loan under such Other Securitization Trust. In connection with each such assumption
or substitution entered into by the Special Servicer, the Special Servicer shall give prior notice thereof to the Master Servicer.
The Master Servicer (with respect to the Whole Loan if it is a Performing Loan) or the Special Servicer (with respect to the Whole
Loan if it is a Specially Serviced Loan or an REO Loan) shall notify the Trustee and the Certificate Administrator that any such
assumption or substitution agreement has been completed by forwarding to the Custodian (with a copy to the Master Servicer, the
Certificate Administrator and the Trustee, as applicable) the original copy of such agreement, which copies shall be added to the
Mortgage File and shall, for all purposes, be considered a part of the Mortgage File to the same extent as all other documents
and instruments constituting a part thereof. To the extent not otherwise precluded by the Loan Documents, neither the Master Servicer
(with respect to the Whole Loan if it is a Performing Loan) (with the consent of the Special Servicer) nor the Special Servicer
(with respect to a Specially Serviced

 

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Loan or an REO Loan) shall approve an assumption or substitution without requiring the Borrower
to pay any fees owed to the Rating Agencies associated with the approval of such assumption or substitution. However, in the event
that the Borrower is required but fails to pay such fees, such fees shall be an expense of the Trust Fund; provided that
the Master Servicer (if the Whole Loan is a Performing Loan) or the Special Servicer (if the Whole Loan is a Specially Serviced
Mortgage Loan), shall be required, after receiving payment from amounts on deposit in the Collection Account, if any, to (i) promptly
notify the Companion Loan Holders and (ii) use efforts consistent with the Servicing Standard to exercise on behalf of the Trust
Fund the rights of the Trust Fund under the Co-Lender Agreement to obtain reimbursement for a pro rata portion of such amount
allocable to each Companion Loan from the related Companion Loan Holder.

 

      (b)          If the Whole Loan contains
a provision in the nature of a “due-on-encumbrance” clause, which by its terms:

 

(i)           provides
that the Whole Loan shall (or may at the mortgagee’s option) become due and payable upon the creation of any lien or other
encumbrance on the Mortgaged Property or any direct or indirect ownership interest in the Borrower (including, unless specifically
permitted, any mezzanine financing of the Borrower or the Mortgaged Property or any sale or transfer of preferred equity in the
Borrower or its owners),

 

(ii)          requires
the consent of the mortgagee to the creation of any such lien or other encumbrance on the Mortgaged Property (including, without
limitation, any mezzanine financing of the Borrower or the Mortgaged Property or any sale or transfer of preferred equity in the
Borrower or its owners), or

 

(iii)         provides
that the Mortgaged Property may be further encumbered without the consent of the mortgagee (including, without limitation, any
mezzanine financing of the Borrower or the Mortgaged Property or any sale or transfer of preferred equity in the Borrower or its
owners), provided that certain conditions set forth in the Loan Documents are satisfied,

 

then, neither the Master Servicer (with
respect to the Whole Loan if it is a Performing Loan) (with the consent of the Special Servicer) nor the Special Servicer (with
respect to the Whole Loan if it is a Specially Serviced Loan or an REO Loan), on behalf of the Trust Fund, shall be required to
enforce such due-on-encumbrance clauses and in connection therewith, will not be required to (i) accelerate the payments on the
Whole Loan or (ii) withhold its consent to such lien or encumbrance, if the Master Servicer (with the consent of the Special Servicer)
or the Special Servicer, as applicable, (x) determines, in accordance with the Servicing Standard that such enforcement would not
be in the best interests of the Trust Fund or Companion Loan Holders, or that in the case of the circumstances described in clause
(b)(iii) above, that the conditions to further encumbrance have been satisfied and (y) receives prior No Downgrade Confirmation
from the Rating Agencies (or has been deemed to satisfy such requirement). In addition, with respect to the Companion Loans, neither
the Master Servicer nor the Special Servicer shall waive any rights under a due on encumbrance clause unless it first obtains a
No Downgrade Confirmation with respect to the related Companion Loan Securities to the extent required under each related Other
Securitization Trust. The Master Servicer and the Special

 

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Servicer shall be entitled to rely on the master servicer and/or the
special servicer of the Other Securitization Trusts to determine whether a No Downgrade Confirmation is required with respect to
the Companion Loan under the related Other Securitization Trust. To the extent not otherwise precluded by the Loan Documents, neither
the Master Servicer (with respect to the Whole Loan if it is a Performing Loan and with the consent of the Special Servicer) nor
the Special Servicer (with respect to the Whole Loan if it is a Specially Serviced Loan or REO Loan) shall approve such lien or
encumbrance without requiring the Borrower to pay any fees owed to the Rating Agencies associated with the approval of such lien
or encumbrance. However, in the event that the Borrower is required but fails to pay such fees, such fees shall be an expense of
the Trust Fund; provided that the Master Servicer (if the Whole Loan is a Performing Loan) or the Special Servicer (if the
Whole Loan is a Specially Serviced Mortgage Loan), shall be required, after receiving payment from amounts on deposit in the Collection
Account, if any, to (i) promptly notify the Companion Loan Holders and (ii) use efforts consistent with the Servicing Standard
to exercise on behalf of the Trust Fund the rights of the Trust Fund under the Co-Lender Agreement to obtain reimbursement for
a pro rata portion of such amount allocable to each Companion Loan from the related Companion Loan Holder.

 

      (c)          [Reserved].

 

      (d)          The Master Servicer and
the Special Servicer, as applicable, shall each provide copies of any waivers it effects pursuant to Section 3.09(a) or
(b) of this Agreement to the other party and the 17g-5 Information Provider (which shall promptly post such waivers to the
17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement) with respect to the Trust Loan.

 

      (e)          Nothing in this Section
3.09 shall constitute a waiver of the Trustee’s right, as the mortgagee of record, to receive notice of any assumption
of the Trust Loan, any sale or other transfer of the Mortgaged Property or the creation of any lien or other encumbrance with respect
to the Mortgaged Property.

 

      (f)           In connection with the
taking of, or the failure to take, any action pursuant to this Section 3.09, the Special Servicer shall not agree to modify,
waive or amend, and no assumption or substitution agreement entered into pursuant to Section 3.09(a) of this Agreement shall
contain any terms that are different from, any term of the Whole Loan or the Note, other than pursuant to Section 3.26 hereof,
as applicable.

 

      (g)          When the Special Servicer’s
consent is requested under this Section 3.09, such consent shall be deemed given fifteen (15) Business Days after receipt
(unless earlier objected to) by the Special Servicer from the Master Servicer of the Master Servicer’s written analysis and
recommendation with respect to such proposed action together with such other information reasonably required by the Special Servicer.

 

      (h)          If the Whole Loan permits
release of the Mortgaged Property through defeasance:

 

 (i)          subject
to the consent rights and process set forth in Section 6.09 with respect to Major Decisions, the Master Servicer shall process
all defeasances of the

 

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Whole Loan in accordance with the terms of the related Loan Documents, and shall be entitled to any defeasance
fees paid relating thereto;

 

(ii)          if the
Whole Loan requires that the lender purchase the required government securities, then the Master Servicer shall purchase, or shall
cause the purchase of, such obligations on behalf of the Trust, at the Borrower’s expense, in accordance with the terms of
the Whole Loan; provided that the Master Servicer shall not accept the amounts paid by the Borrower to effect defeasance
until acceptable government securities have been identified;

 

(iii)          to the
extent not inconsistent with the Whole Loan, the Master Servicer shall require the Borrower to provide an Opinion of Counsel (which
shall be an expense of the Borrower) to the effect that the Trustee has a first priority perfected security interest in the defeasance
collateral (including the government securities) and the assignment of the defeasance collateral is valid and enforceable;

 

(iv)         to the
extent not inconsistent with the Whole Loan, the Master Servicer shall require a certificate at the Borrower’s expense from
an Independent certified public accountant certifying to the effect that the government securities will provide cash flows sufficient
to meet all payments of interest and principal (including payments at maturity) on the Whole Loan in compliance with the requirements
of the terms of the related Loan Documents;

 

(v)          
prior to permitting release of the Mortgaged Property through defeasance, the Master Servicer shall require an
Opinion of Counsel to the effect that such release will not cause either Trust REMIC to fail to qualify as a REMIC at any
time that any Certificates are outstanding or cause a tax to be imposed on the Trust Fund under the REMIC Provisions; provided
that to the extent not inconsistent with the Whole Loan, the Borrower shall pay the cost related to the Opinion of Counsel
(and shall otherwise be a Property Advance);

 

(vi)        
no defeasance shall occur on or prior to the second anniversary of the Startup Day of the Trust REMICs or if a Companion
Loan is held by a REMIC, on or prior to the second anniversary of the startup day of such REMIC;

 

(vii)        the Master Servicer shall, at the expense of the Borrower (to the extent not inconsistent with the related Loan
Documents), cause the U.S. government securities to be held for the benefit of the Certificateholders and the Companion Loan
Holders, and apply payments of principal and interest received on the government obligations in respect of the defeased Whole
Loan in accordance with the terms of the Loan Documents;

 

(viii)       the Master
Servicer shall, in accordance with the Servicing Standard, enforce provisions in the Whole Loan requiring the Borrower to pay all
reasonable expenses associated with a defeasance;

 

(ix)         to the
extent not inconsistent with the Whole Loan, or to the extent the Loan Documents provide the lender with discretion, the Master
Servicer shall require a

 

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single purpose entity, formed solely for the purpose of owning and pledging the government securities
related to the Whole Loan, to act as a successor borrower;

 

(x)           to the extent
not inconsistent with the Whole Loan, each Rating Agency and, to the extent required by the Other Securitization Trust, each rating
agency relating to any Companion Loan Securities must provide a No Downgrade Confirmation; and

 

(xi)          to the
extent not required or permitted to be placed in a separate account, the Master Servicer shall deposit all payments received by
it from defeasance collateral substituted for the Mortgaged Property into the Collection Account and treat any such payments as
payments made on the Whole Loan in advance of its Due Date in accordance with clause (a) of the definition of Principal Distribution
Amount, and not as a prepayment of the Whole Loan. Notwithstanding anything herein to the contrary, in no event shall the Master
Servicer permit such amounts to be maintained in the Collection Account for a period in excess of 365 days.

 

      Section
3.10  Appraisals; Realization upon Defaulted Whole Loan. (a) Contemporaneously with the earliest of (i) the
effective date of any (A) modification of the Maturity Date or extended Maturity Date, the Whole Loan Rate, principal balance
or amortization terms of the Whole Loan, (B) extension of the Maturity Date or extended Maturity Date of the Whole Loan as
described below in Section 3.26 of this Agreement, or (C) consent to the release of the Mortgaged Property from the
lien of the Mortgage other than pursuant to the terms of the Whole Loan, (ii) the occurrence of an Appraisal Reduction Event
and (iii) a default in the payment of a Balloon Payment for which an extension is not granted, the Special Servicer shall use
commercially reasonable efforts to obtain an Updated Appraisal (or a letter update for an existing appraisal which is less
than two years old) within 60 days of such event, the cost of which shall constitute a Property Advance; provided, however,
that the Special Servicer shall not be required to obtain an Updated Appraisal pursuant to clauses (i) through (iii)
above with respect to the Mortgaged Property for which there exists an Appraisal or Updated Appraisal which is less than nine
months old unless the Special Servicer has actual knowledge of a material adverse change in circumstances that, consistent
with the Servicing Standard, would call into question the validity of such Appraisal or Updated Appraisal. For so long as the
Whole Loan is a Specially Serviced Loan, the Special Servicer shall obtain letter updates to an Updated Appraisal every nine
months. The Special Servicer shall use all Updated Appraisals it obtains to calculate any Appraisal Reduction Amount. Prior
to the Special Servicer granting extensions beyond one year or any subsequent extension after granting a one year extension
with respect to the Whole Loan, the Special Servicer shall recalculate any Appraisal Reduction Amount based on an Updated
Appraisal. The Special Servicer shall obtain letter updates, every nine months, to an Updated Appraisal for so long as an
Appraisal Reduction Event exists with respect to the Whole Loan and recalculate the Appraisal Reduction Amount based on such
Updated Appraisal. In addition, upon receipt of each Updated Appraisal, the Special Servicer shall re-compute the Appraisal
Reduction Amount, which shall be adjusted accordingly, and if required in accordance with any such adjustment, each Class of
Certificates that has been notionally reduced as a result of Appraisal Reduction Amounts shall have its related Certificate
Balance notionally restored to the extent required by such adjustment of the Appraisal Reduction Amount, and the Special
Servicer shall redetermine whether a Subordinate Control Period or a Subordinate Consultation Period is then in effect and,
for the avoidance of doubt, which Class of Certificates is the then-

 

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Controlling Class.
The Special Servicer shall send all such letter updates and Updated Appraisals to the Master Servicer, the Trustee, the Certificate
Administrator and the Directing Holder (during any Subordinate Control Period and any Subordinate Consultation Period) and the
17g-5 Information Provider (which shall promptly post such materials to the 17g-5 Information Provider’s Website pursuant
to Section 3.14(d) of this Agreement). During any Subordinate Control Period and any Subordinate Consultation Period, within
15 days after the occurrence of an Appraisal Reduction Event, the Special Servicer will be required to notify the Directing Holder
of the occurrence of such Appraisal Reduction Event. The Special Servicer shall also notify the Other Servicer and Other Trustee
of the existence of an Appraisal Reduction Event and any related Appraisal Reduction Amount. The Special Servicer shall be deemed
to have delivered notice of any such Appraisal Reduction Event and any related Appraisal Reduction Amount if the Master Servicer
includes such event and/or amount in its monthly servicer statements provided to the Other Servicer.

 

      The Special Servicer shall monitor
the Whole Loan so long as it is a Specially Serviced Loan, evaluate whether the causes of the default can be corrected over a reasonable
period without significant impairment of the value of the Mortgaged Property, initiate corrective action (with notification to
and the consent of the Directing Holder during any Subordinate Control Period and upon consultation with the Directing Holder during
any Subordinate Consultation Period) in cooperation with the Borrower if, in the Special Servicer’s judgment a cure is likely,
and take such other actions (including without limitation, negotiating and accepting a discounted payoff of the Whole Loan) as
are consistent with the Servicing Standard. If, in the Special Servicer’s judgment, such corrective action has been unsuccessful,
no satisfactory arrangement can be made for collection of delinquent payments, and the Specially Serviced Loan has not been released
from the Trust Fund pursuant to any provision hereof, and except as otherwise specifically provided in Section 3.09(a) and
3.09(b) of this Agreement, the Special Servicer may, to the extent consistent with the Asset Status Report and with the
Servicing Standard, accelerate the Specially Serviced Loan and commence a foreclosure or other acquisition with respect to the
Mortgaged Property; provided that the Special Servicer determines that such acceleration and foreclosure are more likely
to produce a greater recovery to Certificateholders and the Companion Loan Holders (as a collective whole as if such Certificateholders
and Companion Loan Holders constituted a single lender) on a present value basis (discounting at the related Calculation Rate)
than would a waiver of such default or an extension or modification in accordance with the provisions of Section 3.26 hereof.
The Master Servicer shall pay the costs and expenses in any such proceedings as a Property Advance unless the Master Servicer or
the Special Servicer, as applicable, determines, in its good faith judgment, that such Property Advance would constitute a Nonrecoverable
Advance; provided, however, that if such Property Advance would constitute a Nonrecoverable Advance but the Special
Servicer determines (with the Master Servicer permitted to conclusively rely upon any such determination) that such payment would
be in the best interests of the Certificateholders and the Companion Loan Holders (as a collective whole as if such Certificateholders
and Companion Loan Holders constituted a single lender) the Special Servicer shall direct the Master Servicer to make such payment
from the Collection Account, which payment shall be an Additional Trust Fund Expense. The Trustee shall be entitled to conclusively
rely upon any determination of the Master Servicer or Special Servicer that a Property Advance, if made, would constitute a Nonrecoverable
Advance. If the Master Servicer does not make such Property Advance in violation of the second preceding sentence, the Trustee
shall make such Property Advance,

 

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unless the Trustee determines that such Property Advance would be a Nonrecoverable Advance. The
Master Servicer and the Trustee, as applicable, shall be entitled to reimbursement of Property Advances (with interest at the Advance
Rate) made pursuant to this paragraph to the extent permitted by Section 3.06 of this Agreement.

 

      The Special Servicer shall deliver
by electronic mail (or via other means of electronic delivery reasonably acceptable to the Master Servicer and the Special Servicer)
to the Master Servicer any information in the Special Servicer’s possession that is reasonably required to determine, calculate,
redetermine or recalculate any Appraisal Reduction Amount or updated Appraisal Reduction Amount pursuant to the definition thereof,
using reasonable best efforts to deliver such information, within four (4) Business Days following the Master Servicer’s
written request therefor (which request shall be made promptly, but in no event later than ten (10) Business Days after the Master
Servicer’s receipt of the applicable Appraisal or preparation of the applicable internal valuation); provided, however,
that the Master Servicer’s failure to timely make such request shall not relieve the Special Servicer of its obligation to
provide such information to the Master Servicer in the manner and timing set forth in this sentence; provided, further,
that it shall not be a Master Servicer Termination Event if the Master Servicer fails to satisfy its obligation to determine, calculate,
redetermine or recalculate an Appraisal Reduction Amount within the time periods set forth in this Agreement to the extent such
failure is due to or caused by the Special Servicer’s failure to deliver the information reasonably required to make such
determination, calculation, redetermination or recalculation within the time periods set forth in this Agreement. The Special Servicer
shall not calculate Appraisal Reduction Amounts.

 

      (b)          If the Special Servicer
elects to proceed with a non-judicial foreclosure in accordance with the laws of the state where the Mortgaged Property is located,
the Special Servicer shall not be required to pursue a deficiency judgment against the Borrower or any other liable party if (i)
the laws of the state do not permit such a deficiency judgment after a non-judicial foreclosure or (ii) if the Special Servicer
determines, in its best judgment, that the likely recovery if a deficiency judgment is obtained will not be sufficient to warrant
the cost, time, expense and/or exposure of pursuing the deficiency judgment and such determination is evidenced by an Officer’s
Certificate delivered to the Trustee and the Certificate Administrator.

 

      (c)          In the event that title
to the Mortgaged Property is acquired in foreclosure or by deed-in-lieu of foreclosure, the deed or certificate of sale shall be
issued to the Trustee, or to its nominee (which shall not include the Special Servicer) or a separate Trustee or co-Trustee on
behalf of the Trustee as Holder of the Lower-Tier Regular Interests and the Certificateholders and the Companion Loan Holders.
Notwithstanding any such acquisition of title and cancellation or partial cancellation of the Whole Loan, the Whole Loan shall
(except for purposes of Section 9.01 of this Agreement) be considered to be an REO Loan until such time as the REO Property
shall be sold by the Trust Fund and shall be reduced only by collections net of expenses. Consistent with the foregoing, for purposes
of all calculations hereunder, so long as the Whole Loan shall be considered to be an outstanding Whole Loan, as applicable:

 

(i)           it shall
be assumed that, notwithstanding that the indebtedness evidenced by the Note shall have been discharged or partially discharged,
the Note and, for purposes of determining the Stated Principal Balance thereof, the related amortization schedule, if any, in effect
at the time of any such acquisition of title shall remain in effect; and

 

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(ii)          subject
to Section 1.02(f) of this Agreement, Net REO Proceeds received in any month shall be applied to amounts that would have
been payable under the Note in accordance with the terms of the Note and the Co-Lender Agreement. In the absence of such terms,
Net REO Proceeds shall, subject to Section 1.02(f) of this Agreement, be deemed to have been received first, in payment
of the accrued interest that remained unpaid on the date that the REO Property was acquired by the Trust Fund; second, in
respect of the delinquent principal installments that remained unpaid on such date; and thereafter, Net REO Proceeds received
in any month shall be applied to the payment of installments of principal, if any, and accrued interest on the Whole Loan deemed
to be due and payable in accordance with the terms of the Note and such amortization schedule, if any, until such principal has
been paid in full and then to other amounts due under the Whole Loan. If such Net REO Proceeds exceed the Monthly Payment then
payable, the excess shall be treated as a Principal Prepayment received in respect of the Whole Loan.

 

      (d)          Notwithstanding any provision
herein to the contrary, the Special Servicer shall not acquire for the benefit of the Trust Fund and the Companion Loan Holders
any personal property pursuant to this Section 3.10 unless either:

 

(i)           such personal
property is incident to real property (within the meaning of Section 856(e)(l) of the Code) so acquired by the Special Servicer
for the benefit of the Trust Fund and the Companion Loan Holders; or

 

(ii)         the Special
Servicer shall have requested and received an Opinion of Counsel (which opinion shall be an expense of the Lower-Tier REMIC) to
the effect that the holding of such personal property by the Lower-Tier REMIC will not cause an Adverse REMIC Event at any time
that any Certificate is outstanding.

 

      (e)          Notwithstanding any provision
to the contrary in this Agreement, the Special Servicer shall not, on behalf of the Trust Fund, obtain title to any direct or indirect
partnership interest or other equity interest in the Borrower pledged pursuant to any pledge agreement unless the Special Servicer
shall have requested and received an Opinion of Counsel (which opinion shall be an expense of the Trust Fund and in accordance
with the allocation provisions of the Co-Lender Agreement) to the effect that the holding of such partnership interest or other
equity interest by the Trust Fund will not cause an Adverse REMIC Event at any time that any Certificate is outstanding.

 

      (f)           Notwithstanding any provision
to the contrary contained in this Agreement, the Special Servicer shall not cause the Trustee, on behalf of the Trust Fund, to
obtain title to the Mortgaged Property as a result of or in lieu of foreclosure or otherwise, to obtain title to any direct or
indirect partnership interest in the Borrower pledged pursuant to a pledge agreement and thereby be the beneficial owner of the
Mortgaged Property, to have a receiver of rents appointed with respect to, and shall not otherwise cause the Trustee to acquire
possession of, or take any other action with respect to, the Mortgaged Property if, as a result of any such action, the Trustee,
for the Trust Fund or the Certificateholders or Companion Loan Holders would be considered to hold title to, to be a “mortgagee-in-possession”
of, or to be an “owner” or “operator” of the Mortgaged Property within the meaning of the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended from time to

 

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time, or any comparable law, unless the
Special Servicer has previously determined in accordance with the Servicing Standard, based on an updated environmental assessment
prepared by an Independent Person who regularly conducts environmental audits, that:

 

(i)           the Mortgaged
Property is in compliance with applicable environmental laws or, if not, after consultation with an environmental consultant, that
it would be in the best economic interest of the Certificateholders and the Companion Loan Holders, as a collective whole as if
such Certificateholders and Companion Loan Holders constituted a single lender, to take such actions as are necessary to bring
the Mortgaged Property in compliance therewith, and

 

(ii)          there
are no circumstances present at the Mortgaged Property relating to the use, management or disposal of any Hazardous Materials for
which investigation, testing, monitoring, containment, clean-up or remediation could be required under any currently effective
federal, state or local law or regulation, or that, if any such Hazardous Materials are present for which such action could be
required, after consultation with an environmental consultant, it would be in the best economic interest of the Certificateholders
and the Companion Loan Holders, as a collective whole as if such Certificateholder and Companion Loan Holders constituted a single
lender, to take such actions with respect to the Mortgaged Property.

 

      In the event that the environmental
assessment first obtained by the Special Servicer with respect to the Mortgaged Property indicates that the Mortgaged Property
may not be in compliance with applicable environmental laws or that Hazardous Materials may be present but does not definitively
establish such fact, the Special Servicer shall cause such further environmental tests to be conducted by an Independent Person
who regularly conducts such tests as the Special Servicer shall deem prudent to protect the interests of Certificateholders and
the Companion Loan Holders. Any such tests shall be deemed part of the environmental assessment obtained by the Special Servicer
for purposes of this Section 3.10.

 

      (g)          The environmental assessment
contemplated by Section 3.10(f) of this Agreement shall be prepared within three months (or as soon thereafter as practicable)
of the determination that such assessment is required by any Independent Person who regularly conducts environmental audits for
purchasers of commercial property where the Mortgaged Property is located, as determined by the Special Servicer in a manner consistent
with the Servicing Standard. Upon the written direction of the Special Servicer and delivery by the Special Servicer to the Master
Servicer of pertinent back-up information the Master Servicer shall advance the cost of preparation of such environmental assessments
as a Property Advance unless the Master Servicer determines, in its good faith judgment, that such Property Advance would be a
Nonrecoverable Advance. The Master Servicer shall be entitled to reimbursement of Property Advances (with interest at the Advance
Rate) made pursuant to the preceding sentence to the extent permitted by Section 3.06. The Special Servicer shall provide
written reports and a copy of any environmental assessments in electronic format to the Master Servicer, the Companion Loan Holders
and the 17g-5 Information Provider (which shall promptly post such materials to the 17g-5 Information Provider’s Website
pursuant to Section 3.14(d) of this Agreement), monthly regarding any actions taken by the Special Servicer with respect
to the Mortgaged Property securing a Defaulted Mortgage Loan as to which the environmental testing contemplated by Section 3.10(f)
of this Agreement has revealed that either of the conditions set

 

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forth in clause (i) and (ii) of the first sentence
thereof has not been satisfied, in each case until the earlier to occur of (i) satisfaction of both such conditions, (ii) repurchase
of the Trust Loan by the Trust Loan Sellers or (iii) release of the lien of the Mortgage on the Mortgaged Property.

 

      (h)          If the Special Servicer
determines pursuant to Section 3.10(f)(i) of this Agreement that the Mortgaged Property is not in compliance with applicable
environmental laws but that it is in the best economic interest of the Trust Fund and the Companion Loan Holders, as a collective
whole as if the Certificateholders and the Companion Loan Holders constituted a single lender, to take such actions as are necessary
to bring the Mortgaged Property in compliance therewith, or if the Special Servicer determines pursuant to Section 3.10(f)(ii)
of this Agreement that the circumstances referred to therein relating to Hazardous Materials are present but that it is in the
best economic interest of the Trust Fund and the Companion Loan Holders, as a collective whole as if the Certificateholders and
Companion Loan Holders constituted a single lender, to take such action with respect to the containment, clean-up or remediation
of Hazardous Materials affecting the Mortgaged Property as is required by law or regulation, the Special Servicer shall take such
action (subject to the rights of the Directing Holder to consent to/or consult in respect of such action) as it deems to be in
the best economic interest of the Trust Fund and Companion Loan Holders, as a collective whole as if such Certificateholders and
Companion Loan Holders constituted a single lender, but only if the Certificate Administrator has mailed notice to the Holders
of the Regular Certificates and Companion Loan Holders of such proposed action, which notice shall be prepared by the Special Servicer,
and only if the Certificate Administrator does not receive, within 30 days of such notification, instructions from the Holders
of Regular Certificates entitled to a majority of the Voting Rights and the Companion Loan Holders directing the Special Servicer
not to take such action. Notwithstanding the foregoing, if the Special Servicer reasonably determines that it is likely that within
such 30-day period irreparable environmental harm to the Mortgaged Property would result from the presence of such Hazardous Materials
and provides a prior written statement to the Trustee and the Certificate Administrator setting forth the basis for such determination,
then the Special Servicer may take or cause to be taken such action to remedy such condition as may be consistent with the Servicing
Standard. None of the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer shall be obligated to
take any action or not take any action pursuant to this Section 3.10(h) at the direction of the Certificateholders and the
Companion Loan Holders unless the Certificateholders and the Companion Loan Holders agree to indemnify the Trustee, the Certificate
Administrator, the Master Servicer and the Special Servicer with respect to such action or inaction. The Master Servicer shall
advance the cost of any such compliance, containment, clean-up or remediation as a Property Advance unless the Master Servicer
determines, in its good faith judgment, that such Advance would constitute a Nonrecoverable Advance.

 

      (i)           The Special Servicer shall
notify the Master Servicer if the Mortgaged Property is abandoned or foreclosed and requires reporting to the IRS and shall provide
the Master Servicer with all information regarding forgiveness of indebtedness and required to be reported with respect to the
Whole Loan if it is abandoned or foreclosed and the Master Servicer shall report to the IRS and the Borrower, in the manner required
by applicable law, such information and the Master Servicer shall report, via Form 1099C, all forgiveness of indebtedness to the
extent such information has been provided to the Master Servicer by the

 

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Special Servicer. The Master Servicer shall deliver a copy
of any such report to the Trustee and the Certificate Administrator.

 

      (j)           The costs of any Updated
Appraisal obtained pursuant to this Section 3.10 shall be paid by the Master Servicer as a Property Advance and shall be
reimbursable from the Collection Account.

 

      Section
3.11  Custodian to Cooperate; Release of Mortgage File. Upon the payment in full of the Whole Loan, or the receipt by
the Master Servicer of a notification that payment in full has been escrowed in a manner customary for such purposes, the Master
Servicer shall immediately notify the Custodian by a certification (which certification shall include a statement to the effect
that all amounts received or to be received in connection with such payment which are required to be deposited in the Collection
Account pursuant to Section 3.05 of this Agreement have been or will be so deposited) of a Servicing Officer and shall
request delivery to it of the Mortgage File. Any expense incurred in connection with any instrument of satisfaction or deed of
reconveyance that is not paid by the Borrower shall be chargeable to the Trust Fund. The Master Servicer agrees to use reasonable
efforts in accordance with the Servicing Standard to enforce any provisions in the Loan Documents that require the Borrower to
pay such amounts. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be an expense
of the Trustee or the Custodian or chargeable to the Collection Account.

 

      From time to time upon request
of the Master Servicer or the Special Servicer and delivery to the Custodian of a Request for Release, the Custodian shall promptly
release the Mortgage File (or any portion thereof) designated in such Request for Release to the Master Servicer or the Special
Servicer, as applicable. Upon return of the foregoing to the Custodian, or in the event of a liquidation or conversion of the Whole
Loan into an REO Loan, or receipt by the Custodian of a certificate of a Servicing Officer stating that the Mortgaged Property
was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited
into the Collection Account have been so deposited, or that the Whole Loan has become an REO Loan, the Custodian shall deliver
a copy of the Request for Release to the Master Servicer or the Special Servicer, as applicable.

 

      Upon written certification of
a Servicing Officer, the Trustee shall execute and deliver to the Master Servicer (with respect to the Whole Loan if it is a Performing
Loan) and the Special Servicer (with respect to the Whole Loan if it is a Specially Serviced Loan or an REO Loan) any court pleadings,
requests for a trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys, necessary to
the foreclosure or trustee’s sale in respect of the Mortgaged Property or to any legal action brought to obtain judgment
against the Borrower on the Notes or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided
by the Note or Mortgage or otherwise available at law or in equity. Each such certification shall include a request that such pleadings
or documents be executed by the Trustee and a statement as to the reason such documents or pleadings are required, that the proposed
action is consistent with the Servicing Standard and that the execution and delivery thereof by the Trustee will not invalidate
or otherwise affect the lien of the related Mortgage, except for the termination of such a lien upon completion of the foreclosure
or trustee’s sale.

 

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      Section
3.12  Servicing Fees, Trustee/Certificate Administrator Fees and Special Servicing Compensation (a) As compensation
for its activities hereunder, the Master Servicer shall be entitled to the Servicing Fee. The Master Servicer’s rights
to the Servicing Fee may not be transferred in whole or in part except in connection with the transfer of all of the Master
Servicer’s responsibilities and obligations under this Agreement or as provided in the following paragraph with respect
to the Excess Servicing Fee. In addition, the Master Servicer shall be entitled to receive, as additional Servicing
Compensation, to the extent permitted by applicable law and the Loan Documents and the Co-Lender Agreement, (i) all
investment income earned on amounts on deposit in the Collection Account and certain Reserve Accounts (to the extent
consistent with the Loan Documents), (ii) any Net Default Interest and any other Penalty Charges collected by the Master
Servicer or the Special Servicer during a Collection Period accrued on the Whole Loan if it is a Performing Loan, in each
case, remaining after application thereof during such Collection Period to pay the Advance Interest Amount relating to such
Performing Loan and to pay or reimburse the Trust for any unreimbursed Additional Trust Fund Expenses (including Special
Servicing Fees, Workout Fees and Liquidation Fees) relating to such Performing Loan incurred during or prior to such
Collection Period, and as further described in (d), (iii) any amounts collected for checks returned for insufficient funds
(with respect to the Whole Loan if it is Performing Loan or a Specially Serviced Loan), demand fees (with respect to the
Whole Loan if it is a Performing Loan) or similar items (with respect to the Whole Loan if it is a Performing Loan) (but not
including Prepayment Charges) and (iv) to the extent permitted by applicable law and the Loan Documents, 100% of any
Modification Fees and consent fees with respect to (and other similar fees relating to) the Whole Loan if it is a Performing
Loan where the consent of the Special Servicer is not required (50% of such fees where the consent of the Special Servicer is
required), 100% of any defeasance fees, 100% of Assumption Fees and consent fees (or similar fees) relating to the
transactions referred to in Section 3.09(b) of this Agreement with respect to the Whole Loan if it is a Performing
Loan where the consent of the Special Servicer is not required (50% of such fees where the consent of the Special Servicer is
required), 100% of beneficiary statement charges, demand fees or similar items (but not including Prepayment Charges) with
respect to the Whole Loan if it is a Performing Loan and 100% of assumption application fees with respect to the Whole Loan
if it is a Performing Loan, in each case to the extent received and not required to be deposited or retained in the
Collection Account pursuant to Section 3.05 of this Agreement. The Master Servicer shall also be entitled pursuant to,
and to the extent provided in, Section 3.06(a)(viii) or 3.07(b) of this Agreement, as applicable, to withdraw from the
Collection Account and to receive from any Borrower Accounts (to the extent not payable to the Borrower under the Whole Loan
or applicable law), Prepayment Interest Excess (if any and to the extent any such Prepayment Interest Excess exceeds the
amount of any Prepayment Interest Shortfalls) and any interest or other income earned on deposits therein.

 

      Wells Fargo Bank, National Association
and any successor holder of the Excess Servicing Fee Rights that relate to the Whole Loan (and a successor REO Loan) shall be entitled,
at any time, at its own expense, to transfer, sell, pledge or otherwise assign such Excess Servicing Fee Rights in whole (but not
in part), in either case, to any Qualified Institutional Buyer or Institutional Accredited Investor (other than a Plan); provided
that no such transfer, sale, pledge or other assignment shall be made unless (i) that transfer, sale, pledge or other assignment
is exempt from the registration and/or qualification requirements of the Act and any applicable state securities laws and is otherwise
made in accordance with the Act and such state

 

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securities laws, (ii) the prospective transferor shall have delivered to the Depositor
a certificate substantially in the form attached as Exhibit P-1 hereto, and (iii) the prospective transferee shall have
delivered to the Master Servicer and the Depositor a certificate substantially in the form attached as Exhibit P-2 hereto.
None of the Depositor, the Trustee, the Certificate Administrator or the Certificate Registrar is obligated to register or qualify
an Excess Servicing Fee Right under the Act or any other securities law or to take any action not otherwise required under this
Agreement to permit the transfer, sale, pledge or assignment of an Excess Servicing Fee Right without registration or qualification.
Wells Fargo Bank, National Association and each holder of an Excess Servicing Fee Right desiring to effect a transfer, sale, pledge
or other assignment of such Excess Servicing Fee Right shall, and the Master Servicer hereby agrees, and each such holder of an
Excess Servicing Fee Right by its acceptance of such Excess Servicing Fee Right shall be deemed to have agreed, in connection with
any transfer of such Excess Servicing Fee Right effected by such Person, to indemnify the Certificateholders, the Trust, the Depositor,
the Initial Purchasers, the Certificate Administrator, the Trustee, the Master Servicer, the Certificate Registrar and the Special
Servicer against any liability that may result if such transfer is not exempt from registration and/or qualification under the
Act or other applicable federal and state securities laws or is not made in accordance with such federal and state laws or in accordance
with the foregoing provisions of this paragraph. By its acceptance of an Excess Servicing Fee Right, the holder thereof shall be
deemed to have agreed not to use or disclose such information in any manner that could result in a violation of any provision of
the Act or other applicable securities laws or that would require registration of such Excess Servicing Fee Right or any Certificate
pursuant to the Act. From time to time following any transfer, sale, pledge or assignment of an Excess Servicing Fee Right, the
Master Servicer with respect to the Whole Loan or successor REO Loan with respect thereto to which the Excess Servicing Fee Right
relates, shall pay, out of each amount paid to the Master Servicer as Servicing Fee with respect to the Whole Loan or REO Loan,
as the case may be, the related Excess Servicing Fees to the holder of such Excess Servicing Fee Right within one Business Day
following the payment of such Servicing Fee to the Master Servicer, in each case in accordance with payment instructions provided
by such holder in writing to the Master Servicer. The holder of an Excess Servicing Fee Right shall not have any rights under this
Agreement except as set forth in the preceding sentences of this paragraph. None of the Certificate Administrator, the Certificate
Registrar, the Depositor, the Special Servicer or the Trustee shall have any obligation whatsoever regarding payment of the Excess
Servicing Fee or the assignment or transfer of the Excess Servicing Fee Right.

 

      As compensation for its activities
hereunder on each Distribution Date, the Certificate Administrator shall be entitled with respect to the Trust Loan to its portion
of the Trustee/Certificate Administrator Fees, which shall be payable from amounts on deposit in the Lower-Tier Distribution Account.
The Certificate Administrator shall pay the Trustee the Trustee’s portion of the Trustee/Certificate Administrator Fee and
the routine fees of the Certificate Registrar, the Paying Agent and the Authenticating Agent. The Certificate Administrator’s
and the Trustee’s rights to the Trustee/Certificate Administrator Fee may not be transferred in whole or in part except in
connection with the transfer of all of its respective responsibilities and obligations under this Agreement.

 

      Except as otherwise provided
herein, the Master Servicer shall pay all of its overhead expenses incurred by it in connection with its servicing activities hereunder,
including

 

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all fees of any Sub-Servicers retained by it. Except as otherwise provided herein, the Trustee and the Certificate Administrator
shall each pay all expenses incurred by it in connection with its activities hereunder.

 

      (b)          As compensation for its
activities hereunder, the Special Servicer shall be entitled with respect to a Specially Serviced Loan or an REO Loan to the Special
Servicing Compensation, which shall be payable from amounts on deposit in the Collection Account as set forth in Section 3.06
of this Agreement. The Special Servicer’s rights to the Special Servicing Fee may not be transferred in whole or in part
except in connection with the transfer of all of the Special Servicer’s responsibilities and obligations under this Agreement.
In addition, the Special Servicer shall be entitled to receive, as Special Servicing Compensation, to the extent permitted by applicable
law and the Loan Documents, (i) any late payment charges and any Net Default Interest and any other default charges and Penalty
Charges collected by the Master Servicer or the Special Servicer during a Collection Period accrued on a Specially Serviced Loan
remaining after application thereof during such Collection Period (subject to the terms of the Co-Lender Agreement) to pay the
Advance Interest Amount relating to such Specially Serviced Loan and any unreimbursed Additional Trust Fund Expenses (including
Special Servicing Fees, Workout Fees and Liquidation Fees) incurred during or prior to such Collection Period on a Specially Serviced
Loan (but not NSF check fees and the like, which shall be paid to the Master Servicer) as further described below in subsection
(c), (ii) 50% of any Assumption Fees, consent fees (or similar fees) relating to the transactions referred to in Section
3.09(b) of this Agreement, Modification Fees (and other similar fees) with respect to the Whole Loan if it is a Performing
Loan, when the approval from the Special Servicer is required (and excluding any Prepayment Charges), (iii) any interest or other
income earned on deposits in the REO Accounts and (iv) 100% of any Assumption Fees, assumption application fees, consent fees (or
similar fees) relating to the transactions referred to in Section 3.09(b) of this Agreement, Modification Fees (and other
similar fees), beneficiary statement charges, demand fees or similar items relating to a Specially Serviced Loan or REO Loan.

 

      Except as otherwise provided
herein, the Special Servicer shall pay all expenses incurred by it in connection with its servicing activities hereunder, including
all fees of any Sub-Servicers retained by it.

 

      (c)          In addition, a Workout
Fee will be payable to the Special Servicer with respect to the Whole Loan if it ceases to be a Specially Serviced Loan pursuant
to the definition thereof. The Workout Fee will be payable out of each collection of interest and principal (including scheduled
payments, prepayments, Balloon Payments and payments at maturity) received on the Whole Loan for so long as it remains a Corrected
Mortgage Loan. The Workout Fee will cease to be payable if the Whole Loan again becomes a Specially Serviced Loan or if the Mortgaged
Property becomes an REO Property; provided that a new Workout Fee will become payable if and when the Whole Loan again ceases
to be a Specially Serviced Loan. If the Special Servicer is terminated (other than for cause) or resigns with respect to any or
all of its servicing duties, it shall retain the right to receive any and all Workout Fees payable with respect to the Whole Loan
if the Whole Loan ceases to be a Specially Serviced Loan during the period that it had responsibility for servicing the Specially
Serviced Loan or had ceased being a Specially Serviced Loan (or the Specially Serviced Loan had not yet become a Corrected Mortgage
Loan because as of the time that the Special Servicer is terminated, the Borrower has

 

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not made three consecutive monthly debt service
payments and subsequently, the Specially Serviced Loan becomes a Corrected Mortgage Loan) at the time of such termination or resignation
(and the successor Special Servicer shall not be entitled to any portion of such Workout Fees), in each case until the Workout
Fee for any such loan ceases to be payable in accordance with the preceding sentence.

 

      A Liquidation Fee will be payable
to the Special Servicer with respect to (i) the Trust Loan if repurchased by the Trust Loan Sellers after the applicable time period
(including any applicable extension thereof) in Section 2.03(e) of this Agreement, (ii) a Specially Serviced Loan as to
which the Special Servicer obtains a full, partial or discounted payoff from the Borrower and (iii) except as otherwise described
below, with respect to a Specially Serviced Loan or REO Property as to which the Special Servicer recovered any Liquidation Proceeds.
As to the Trust Loan repurchased by the Trust Loan Sellers after the applicable time period (including any applicable extension
thereof) in Section 2.03(e) of this Agreement or a Specially Serviced Loan or an REO Property, the Liquidation Fee will
be payable from the related payment or proceeds. Notwithstanding anything to the contrary described above, no Liquidation Fee will
be payable based on, or out of, Liquidation Proceeds to the extent set forth in the definition of “Liquidation Fee”
herein. With respect to any future mezzanine debt, to the extent not prohibited by the Loan Documents, the Master Servicer or Special
Servicer, as applicable, shall require that the related mezzanine intercreditor agreement provide that in the event of a purchase
of the Mortgage Loan by the related mezzanine lender after 90 days following the first time that such holder’s option to
purchase the Whole Loan becomes exercisable (provided, however, that even if the purchase occurs before such expiration
the Liquidation Fee will be payable to the extent paid by, and collected from, the related borrower or the mezzanine lender), such
mezzanine lender shall be required to pay a Liquidation Fee equal to the amount that the Special Servicer would otherwise be entitled
to under this Agreement with respect to a liquidation of the Mortgage Loan (provided, however, that such Liquidation
Fee shall in all circumstances be payable by the related mezzanine lender and shall not, under any circumstances, be payable out
of the Trust unless the Master Servicer fails to require the related mezzanine intercreditor agreement to require the mezzanine
lender to pay such amounts in breach of its obligation to do so under this paragraph). If, however, Liquidation Proceeds are received
with respect to a Specially Serviced Loan as to which the Special Servicer is properly entitled to a Workout Fee, such Workout
Fee will be payable based on and out of the portion of such Liquidation Proceeds that constitute principal and/or interest. Notwithstanding
anything herein to the contrary, the Special Servicer shall only be entitled to receive a Liquidation Fee or a Workout Fee, but
not both, with respect to Liquidation Proceeds received on the Whole Loan or a Specially Serviced Loan. In the event that (i) the
Special Servicer resigns or has been terminated, and (ii) prior or subsequent to such resignation or termination, either (A) a
Specially Serviced Loan was liquidated or modified pursuant to an action plan submitted by the initial Special Servicer or the
Special Servicer has determined to grant a forbearance, or (B) a Specially Serviced Loan being monitored by the Special Servicer
subsequently became a Corrected Mortgage Loan, then in either such event the Special Servicer (and not the successor special servicer)
shall be paid the related Workout Fee or Liquidation Fee, as applicable.

 

      The Special Servicer shall be
required to pay out of its own funds all expenses incurred by it in connection with its servicing activities hereunder (including,
without limitation, payment of any amounts, other than management fees in respect of the REO Property, due and

 

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owing to any of
its sub servicers, any amounts due and owing to any of its Affiliates, and the premiums for any blanket insurance policy obtained
by it insuring against hazard losses pursuant to Section 3.08 of this Agreement, except to the extent such premiums are
reimbursable pursuant to Section 3.08 of this Agreement), if and to the extent such expenses are not expressly payable directly
out of the Collection Account or the REO Account or as a Property Advance, and the Special Servicer shall not be entitled to reimbursement
therefor except as expressly provided in this Agreement.

 

      The Special Servicer and its
Affiliates shall be prohibited from receiving or retaining any compensation or any other remuneration (including, without limitation,
in the form of commissions, brokerage fees, rebates, or as a result of any other fee-sharing arrangement) from any Person (including,
without limitation, the Trust, the Borrower, any Manager, guarantor or indemnitor in respect of the Whole Loan and any purchaser
of the Whole Loan or REO Property) in connection with the disposition, workout or foreclosure of the Whole Loan, the management
or disposition of the REO Property, or the performance of any other special servicing duties under this Agreement, other than as
expressly provided in this Section 3.12; provided that such prohibition shall not apply to Permitted Special Servicer/Affiliate
Fees; and provided, further, that any compensation or other remuneration that the Master Servicer is permitted to
receive or retain pursuant to this Agreement in connection with its duties in such capacity as the Master Servicer under this Agreement
will not be Disclosable Special Servicer Fees.

 

      (d)          In determining the compensation
of the Master Servicer or Special Servicer, as applicable, with respect to Penalty Charges, on any Distribution Date, the aggregate
Penalty Charges collected on the Whole Loan during the related Collection Period shall be applied (as between Default Interest
and late payment charges, in the priority set forth in the definition of “Advance Interest Amount”) to reimburse (i)
the Master Servicer or the Trustee for interest on Advances at the Advance Rate with respect to the Trust Loan or Whole Loan that
accrued in the period that such Penalty Charges were collected and advance interest to any each Companion Loan Service Provider
for any debt service advance made by such party with respect to the related Companion Loan that accrued in the period that such
Penalty Charges were collected, (ii) the Trust Fund for all interest on Advances with respect to the Trust Loan or Whole Loan previously
paid to the Master Servicer, the Trustee or to any Companion Loan Service Provider pursuant to Section 3.06(a)(vi) of this
Agreement and (iii) the Trust Fund for any Additional Trust Fund Expenses (including Special Servicing Fees, Workout Fees and Liquidation
Fees) with respect to the Trust Loan or the Whole Loan paid during or prior to the Collection Period that such Penalty Charges
were collected and not previously paid out of Penalty Charges, and any Penalty Charges remaining thereafter shall be distributed
pro rata to the Master Servicer and the Special Servicer based upon the amount of Penalty Charges the Master Servicer or
the Special Servicer would otherwise have been entitled to receive during such period with respect to the Whole Loan without any
such application.

 

      (e)          The Master Servicer, the
Special Servicer, the Certificate Administrator and the Trustee shall be entitled to reimbursement from the Collection Account
in accordance with Section 3.06 for the costs and expenses incurred by them in the performance of their respective duties
under this Agreement which are “unanticipated expenses incurred by the REMIC” within the meaning of Treasury Regulations
Section 1.860G-1(b)(3)(iii). Such

 

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expenses shall include, by way of example and not by way of limitation, environmental assessments,
Updated Appraisals and appraisals in connection with foreclosure, the fees and expenses of any administrative or judicial proceeding
and expenses expressly identified as reimbursable in Section 3.06(a)(xv) of this Agreement. All such costs and expenses
shall be treated as costs and expenses of the Lower-Tier REMIC and the Companion Loans, if applicable.

 

      (f)           No provision of this Agreement
or of the Certificates shall require the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee to
expend or risk their own funds or otherwise incur any financial liability in the performance of any of their duties hereunder or
thereunder, or in the exercise of any of their rights or powers, if, in the good faith business judgment of the Master Servicer,
the Special Servicer, the Certificate Administrator or the Trustee, as the case may be, repayment of such funds would not be ultimately
recoverable from late payments, Net Insurance Proceeds, Net Liquidation Proceeds, Net Condemnation Proceeds and other collections
on or in respect of the Trust Loan, or from adequate indemnity from other assets comprising the Trust Fund against such risk or
liability.

 

      If the Master Servicer, the Special
Servicer, the Certificate Administrator or the Trustee receives a request or inquiry from the Borrower, any Certificateholder or
any other Person the response to which would, in the Master Servicer’s, the Special Servicer’s, the Certificate Administrator’s
or the Trustee’s good faith business judgment require the assistance of Independent legal counsel or other consultant to
the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, the cost of which would not be an expense
of the Trust Fund or the Companion Loan Holders hereunder, then the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee, as the case may be, shall not be required to take any action in response to such request or inquiry unless the
Borrower, such Certificateholder, or such other Person, as applicable, makes arrangements for the payment of the Master Servicer’s,
the Special Servicer’s, the Certificate Administrator’s or the Trustee’s expenses associated with such counsel
(including, without limitation, posting an advance payment for such expenses) satisfactory to the Master Servicer, the Special
Servicer, the Certificate Administrator or the Trustee, as the case may be, in its sole discretion. Unless such arrangements have
been made, the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as the case may be, shall have
no liability to any Person for the failure to respond to such request or inquiry.

 

      Section
3.13  Reports to the Certificate Administrator; Collection Account Statements. (a) The Master Servicer
shall deliver to the Certificate Administrator no later than 3:00 p.m. (New York City time) one Business Day prior to the Servicer
Remittance Date prior to each Distribution Date, the CREFC® Loan Periodic Update File with respect to the Trust
Loan for the related Distribution Date (which shall include, without limitation, the amount of Available Funds allocable to all
of the Trust Loan) including information therein that states the anticipated P&I Advances for the related Distribution Date
and any CREFC® License Fee Rate. The Master Servicer’s responsibilities under this Section 3.13(a)
with respect to REO Loan shall be subject to the satisfaction of the Special Servicer’s obligations under Section 3.23
of this Agreement. In the event of the receipt by the Master Servicer of a Principal Prepayment or other Unscheduled Payment
after a Determination Date but prior to the related Servicer Remittance Date, the Master Servicer shall be permitted to deliver
to the Certificate Administrator a revised CREFC® Loan Periodic Update File by no later than 10:00 a.m. (New York
time) on the Servicer Remittance Date. In connection with the delivery of any revised report, the Master Servicer shall

 

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not be required to pay the Certificate Administrator
or any other party any “re-state fee” or any other fee for delivery of such revised report and shall not be required
to bear any expenses or penalty charges in connection with the processing of such Principal Prepayment or Unscheduled Payment.
With respect to the Companion Loans, the Master Servicer shall make available to each Companion Loan Holder on each Distribution
Date or, if such Companion Loan is securitized, the applicable related Other Servicer no later than the time(s) that it or any
portion thereof is available to the Certificate Administrator, the CREFC® Investor Reporting Package (excluding
any templates) pursuant to the terms of this Agreement on a monthly basis. The Special Servicer shall provide any templates relating
to the Companion Loans included in the CREFC® Investor Reporting Package and prepared by the Special Servicer pursuant
to the terms hereof to the Master Servicer promptly upon reasonable request. The Master Servicer shall provide any templates relating
to the Companion Loans included in the CREFC® Investor Reporting Package (with respect to templates required to
be prepared by the Special Servicer pursuant to the terms hereof, to the extent received) to a related Other Servicer upon reasonable
request.

 

      (b)          For so long as the Master
Servicer makes deposits into or credits to and withdrawals or debits from the Collection Account, not later than 15 days after
each Distribution Date, the Master Servicer shall forward to the Certificate Administrator a statement prepared by the Master Servicer
setting forth the status of the Collection Account as of the close of business on the last Business Day of the Collection Period
related to such Distribution Date and showing the aggregate amount of deposits into and withdrawals from the Collection Account
of each category of deposit (or credit) specified in Section 3.05 of this Agreement and each category of withdrawal (or
debit) specified in Section 3.06 of this Agreement for the related Collection Period, in each case for the Trust Loan. The
Trustee and the Certificate Administrator and its agents and attorneys may at any time during normal business hours, upon reasonable
notice, inspect and copy the books, records and accounts of the Master Servicer solely relating to the Trust Loan and the performance
of its duties hereunder.

 

      (c)          Beginning in September
2016, no later than 4:00 p.m. (New York City time) on each Servicer Remittance Date, the Master Servicer shall deliver or cause
to be delivered to the Certificate Administrator (which shall promptly post such report to the Certificate Administrator’s
Website pursuant to Section 4.02(b) of this Agreement), the Companion Loan Holders and the 17g-5 Information Provider (which
shall post such reports to the 17g-5 Information Provider’s website) the following reports (in electronic form) with respect
to the Trust Loan (and, if applicable, the REO Property), providing the required information as of the immediately preceding Determination
Date: (i) to the extent the Master Servicer has received the most recent CREFC® Special Servicer Loan File from
the Special Servicer at the time required, the most recent CREFC® Delinquent Loan Status Report, CREFC®
Historical Loan Modification and Corrected Mortgage Loan Report, the CREFC® Loan Setup File (with respect to the
first Distribution Date) and CREFC® REO Status Report received from such Special Servicer, (ii) the most recent
CREFC® Property File, CREFC® Financial File, CREFC® Comparative Financial Status Report
and the CREFC® Loan Level Reserve/LOC Report (in each case incorporating the data required to be included in the
CREFC® Special Servicer Loan File), (iii) the CREFC® Servicer Watch List with information that is
current as of such Determination Date and (iv) the CREFC® Advance Recovery Report.

 

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        The information that pertains
to a Specially Serviced Loan or REO Property reflected in such reports shall be based solely upon the reports delivered by the
Special Servicer to the Master Servicer (other than information as to which the Master Servicer has the primary responsibility
to generate) no later than the related Determination Date in the form required by Section 3.13(f) of this Agreement or shall
be provided by means of such reports so delivered by the Special Servicer to the Master Servicer in the form so required. In the
absence of manifest error, the Master Servicer shall be entitled to conclusively rely upon, without investigation or inquiry, the
information and reports delivered to it by the Special Servicer, and the Certificate Administrator shall be entitled to conclusively
rely upon the Master Servicer’s reports and the Special Servicer’s reports and any information provided by the Certificate
Administrator or the Trustee without any duty or obligation to recompute, verify or recalculate any of the amounts and other information
stated therein.

 

(d)          The Master Servicer shall
deliver or cause to be delivered to the Trustee, the Certificate Administrator, the Companion Loan Holders the Initial Purchaser
and the 17g-5 Information Provider (which shall promptly post such materials to the 17g-5 Information Provider’s Website),
the following materials, in each case to the extent that such materials or the information on which they are based have been received
by the Master Servicer with respect to the Trust Loan, which shall be made available by the Certificate Administrator on the Certificate
Administrator’s Website:

 

(i)          Within 45
days of receipt by the Master Servicer (or within 60 days of receipt by the Special Servicer with respect to a Specially Serviced
Mortgage Loan or REO Property pursuant to Section 3.13(g)(i)) of any annual year-end operating statements beginning in 2017,
with respect to the Mortgaged Property or REO Property (to the extent prepared by and received from the Special Servicer in the
case of a Specially Serviced Loan or REO Property), a CREFC® Operating Statement Analysis Report, together with
copies of the related operating statements and rent rolls (but only to the extent the Borrower is required by the Mortgage to deliver,
or otherwise agrees to provide such information and, with respect to operating statements and rent rolls for such Specially Serviced
Loan or REO Property, only to the extent received by the Special Servicer) for the current trailing 12 months, if available, or
year-to-date. The Master Servicer (or the Special Servicer in the case of a Specially Serviced Loan or REO Property) shall use
efforts consistent with the Servicing Standard to obtain said annual and other periodic operating statements and related rent rolls,
which efforts shall include a letter sent to the Borrower (followed up with telephone calls), requesting such annual and other
periodic operating statements and related rent rolls until they are received to the extent such action is consistent with applicable
law and the terms of the Whole Loan. Upon receipt of such annual and other periodic operating statements (including year-to-date
statements) and related rent rolls the Master Servicer shall promptly update the Operating Statement Analysis Report, provided,
however, that any analysis or update with respect to year end or the first calendar quarter of each year will not be required to
the extent such analysis or update is not required under the then current CREFC® guidelines.

 

(ii)          Within 45
days after receipt by the Master Servicer (or within 60 days of receipt by the Special Servicer in the case of a Specially Serviced
Loan or REO Property

 

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pursuant to Section 3.13(g)(ii)) of any annual year-end operating statements beginning in 2017, with
respect to the Mortgaged Property or REO Property (to the extent prepared by and received from the Special Servicer in the case
of a Specially Serviced Loan or REO Property), a CREFC® NOI Adjustment Worksheet for the Mortgaged Property (with
the annual year-end operating statements attached thereto as an exhibit). The Master Servicer will use the “Normalized”
column from the CREFC® NOI Adjustment Worksheet to update the full year-end data on any CREFC® Operating
Statement Analysis Report and will use any operating statements received with respect to the Mortgaged Property (other than an
REO Property or the Mortgaged Property for so long as the Whole Loan is a Specially Serviced Loan) to update the CREFC®
Operating Statement Analysis Report for the Mortgaged Property, provided, however, that any analysis or update with respect to
year end or the first calendar quarter of each year will not be required to the extent such analysis or update is not required
under the then current CREFC® guidelines.

 

Upon request for receipt of any
such items from any Rating Agency, the Master Servicer shall forward such items to the 17g-5 Information Provider (who shall promptly
post such items to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement).

 

The Master Servicer shall maintain
one CREFC® Operating Statement Analysis Report for the Mortgaged Property or REO Property (to the extent prepared
by and received from the Special Servicer in the case of an REO Property or the Mortgaged Property for so long as the Whole Loan
is a Specially Serviced Loan) relating to the Whole Loan. The CREFC® Operating Statement Analysis Report for the
Mortgaged Property (other than an REO Property or the Mortgaged Property while the Whole Loan is a Specially Serviced Loan) is
to be updated with trailing 12-month information, as available (commencing with the quarter ending in March 2017), or year-to-date
information until 12-month trailing information is available by the Master Servicer and such updated report shall be delivered
to the Trustee, the Certificate Administrator and the Companion Loan Holders in the calendar month following receipt by the Master
Servicer of such updated trailing or year-to-date operating statements and related rent rolls for the Mortgaged Property.

 

The Special Servicer shall pursuant
to Section 3.13(d) of this Agreement deliver to the Master Servicer the information required of it pursuant to this Section
3.13(d) with respect to a Specially Serviced Loan or REO Loan.

 

(e)          In connection with their
servicing of the Whole Loan, the Master Servicer and the Special Servicer, as applicable, shall provide to each other and to the
Trustee and the Certificate Administrator, written notice of any event that comes to their knowledge with respect to the Whole
Loan or REO Property that the Master Servicer or the Special Servicer, respectively, determines, in accordance with the Servicing
Standard, would have a material adverse effect on the Whole Loan or REO Property, which notice shall include an explanation as
to the reason for such material adverse effect.

 

(f)          On each Determination
Date, the Special Servicer shall deliver, or cause to be delivered, to the Master Servicer, and upon the request of any of the
Trustee, the Certificate Administrator and, the Depositor, to such requesting party, the CREFC® Specially Serviced
Loan

 

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File with respect to a Specially Serviced Loan (and, if applicable, the REO Property), providing the required information
as of the Business Day prior to such Determination Date (or, upon the reasonable request of any Master Servicer, data files in
a form acceptable to the Master Servicer), which CREFC® Specially Serviced Loan File shall include data, to enable
the Master Servicer to produce the CREFC® Supplemental Servicer Reports. In addition, at least two (2) Business
Days prior to each Servicer Remittance Date, the Special Servicer shall deliver the CREFC® Specially Serviced Loan
File to the 17g-5 Information Provider (which shall promptly post such item to the 17g-5 Information Provider’s Website).
Such reports or data shall be presented in writing and in an electronic format acceptable to the Master Servicer.

 

(g)         The Special Servicer shall
deliver or cause to be delivered to the Master Servicer and, upon the request of any of the Trustee, the Certificate Administrator,
the Depositor or any Rating Agency, to such requesting party, without charge, the following materials for a Specially Serviced
Loan, in each case to the extent that such materials or the information on which they are based have been received by the Special
Servicer:

 

(i)          Beginning
in 2017, within 60 days of receipt by the Special Servicer of any annual operating statements with respect to a Specially Serviced
Loan, a CREFC® Operating Statement Analysis Report for the Mortgaged Property or REO Property as of the end of
the preceding calendar year, together with copies of the operating statements and rent rolls for the Mortgaged Property or REO
Property as of the end of the preceding calendar year (but only to the extent the Borrower is required by the Mortgage to deliver,
or otherwise agrees to provide, such information) and for the current trailing 12 months, if available, or year-to-date. The Special
Servicer shall use commercially reasonable efforts to obtain said annual and other periodic operating statements and related rent
rolls with respect to the Mortgaged Property for so long as the Whole Loan is a Specially Serviced Loan or REO Property, which
efforts shall include a letter sent to the Borrower or other appropriate party each quarter (followed up with telephone calls)
requesting such annual and other periodic operating statements until they are received, provided, however, that any analysis or
update with respect to year end or the first calendar quarter of each year will not be required to the extent such analysis or
update is not required under the then current CREFC® guidelines.

 

(ii)         Beginning
in 2017, within 60 days of receipt by the Special Servicer of any annual operating statements with respect to the Mortgaged Property
for so long as the Whole Loan is a Specially Serviced Loan, a CREFC® NOI Adjustment Worksheet for the Mortgaged
Property or REO Property (with the annual operating statements attached thereto as an exhibit); provided, however,
that, with the consent of the Master Servicer, the Special Servicer may instead provide data files in a form acceptable to the
Master Servicer. The Special Servicer will use the “Normalized” column from the CREFC® NOI Adjustment
Worksheet to update the full year-end data on any CREFC® Operating Statement Analysis Report and will use any operating
statements received with respect to the Mortgaged Property for so long as the Whole Loan is a Specially Serviced Loan or an REO
Property to update the CREFC® Operating Statement Analysis Report for the Mortgaged Property, provided, however,
that any analysis or update with respect to year end or the first calendar quarter of each year will not be required to the extent
such analysis or update is not required under the then current CREFC® guidelines.

 

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Upon request for receipt of any
such items from any Rating Agency, the Special Servicer shall forward such items to the 17g-5 Information Provider (who shall promptly
post such items to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement).

 

The Special Servicer shall maintain
one CREFC® Operating Statement Analysis Report for the Mortgaged Property for so long as the Whole Loan is a Specially
Serviced Loan or the Mortgaged Property is an REO Property. The CREFC® Operating Statement Analysis Report for the
Mortgaged Property or REO Property is to be updated by the Special Servicer and such updated report delivered to the Master Servicer
within 45 days after receipt by the Special Servicer of updated operating statements and related rent rolls for the Mortgaged Property
when the Whole Loan is a Specially Serviced Loan or the Mortgaged Property is an REO Property; provided, that the Special
Servicer may instead provide data files in an electronic form acceptable to the Special Servicer. The Special Servicer shall provide
each such report to the Master Servicer in the then applicable CREFC® format.

 

(h)          If the Master Servicer
or the Special Servicer, as applicable, is required to deliver any statement, report or information under any provision of this
Agreement (including Section 3.14), the Master Servicer or the Special Servicer, as the case may be, may satisfy such obligation
by (x) delivering such statement, report or information in a commonly used electronic format or (y) making such statement, report
or information available on the Master Servicer’s Website, unless this Agreement expressly specifies a particular method
of delivery; provided that all reports required to be delivered to the Certificate Administrator shall be delivered in accordance
with clause (x) or (y).

 

(i)          The Master Servicer may,
but is not required to, make any of the reports or files it delivers pursuant to this Section 3.13 available each month
on the Master Servicer’s Website only with the use of a password, in which case the Master Servicer shall provide such password
to (i) the other parties to this Agreement, who by their acceptance of such password shall be deemed to have agreed not to disclose
such password to any other Person and (ii) each Certificateholder and prospective Certificateholder who requests such password,
provided that any such Certificateholder or prospective Certificateholder, as the case may be, and has delivered an Investor
Certification to the Trustee, the Certificate Administrator and the Master Servicer. In connection with providing access to the
Master Servicer’s Website, the Master Servicer may require registration and the acceptance of a disclaimer and otherwise
(subject to the preceding sentence) adopt reasonable rules and procedures, which may include, to the extent the Master Servicer
deems necessary or appropriate, conditioning access on execution of an agreement governing the availability, use and disclosure
of such information, and which may provide indemnification to the Master Servicer for any liability or damage that may arise therefrom.

 

(j)          With respect to each Collection
Period, the Special Servicer shall deliver or cause to be delivered to the Master Servicer, without charge and on the related Determination
Date, an electronic report which may include html, word or excel compatible format, clean and searchable pdf format or such other
format as mutually agreeable between the Certificate Administrator and the Special Servicer that discloses and contains an itemized
listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its Affiliates during the related Collection
Period (and the Master Servicer, if it has received such information, shall forward such information to the Certificate Administrator
no later than the Servicer Remittance

 

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Date). Such report to the Certificate Administrator may omit any information that has previously
been delivered to the Certificate Administrator by the Master Servicer or the Special Servicer; provided that the Certificate Administrator
shall include all such related information in the Distribution Date Statement regardless of how such information was conveyed to
it.

 

Section 3.14  Access
to Certain Documentation. (a) The Master Servicer and Special Servicer, as applicable, shall provide to any Certificateholders
and the Companion Loan Holders that are federally insured financial institutions, the Federal Reserve Board, the FDIC and the
OTS and the supervisory agents and examiners of such boards and such corporations, and any other federal or state banking or insurance
regulatory authority that may exercise authority over any Certificateholder or Companion Loan Holders is subject, access to the
documentation regarding the Trust Loan required by applicable regulations of the Federal Reserve Board, FDIC, OTS or any such
federal or state banking or regulatory authority, such access being afforded without charge but only upon reasonable written request
and during normal business hours at the offices of the Master Servicer or Special Servicer, as applicable. In addition, upon reasonable
prior written notice to the Master Servicer or the Special Servicer, as the case may be, the Trustee, the Certificate Administrator,
the Depositor or their accountants or other representatives shall have reasonable access to review the documents, correspondence
and records in the possession of the Master Servicer or the Special Servicer, as the case may be, as they relate to the Mortgaged
Property and any REO Property during normal business hours at the offices of the Master Servicer or the Special Servicer, as the
case may be. Nothing in this Section 3.14 shall detract from the obligation of the Master Servicer and Special Servicer
to observe any applicable law prohibiting disclosure of information with respect to the Borrower, and the failure of the Master
Servicer and Special Servicer to provide access as provided in this Section 3.14 as a result of such obligation shall not
constitute a breach of this Section 3.14.

 

(b)          In connection with providing
or granting any information or access pursuant to the prior paragraph to a Certificateholder, Companion Loan Holder or any regulatory
authority that may exercise authority over a Certificateholder or Companion Loan Holder, the Master Servicer and the Special Servicer
may each require payment from such Certificateholder or Companion Loan Holder of a sum sufficient to cover the reasonable costs
and expenses of providing such information or access, including copy charges and reasonable fees for employee time and for space;
provided that no charge may be made if such information or access was required to be given or made available under applicable
law. In connection with providing Certificateholders or Companion Loan Holders access to the information described in the preceding
paragraph the Master Servicer and the Special Servicer, as applicable, may require (prior to affording such access) a written confirmation
executed by the requesting Person substantially in such form as may be reasonably acceptable to the Master Servicer or the Special
Servicer, as the case may be, generally to the effect that such Person is a Holder of Certificates or a beneficial holder of Book-Entry
Certificates or Companion Loan Holder or a regulator or governmental body and will keep such information confidential.

 

(c)          Upon the reasonable request
of any Certificateholder or Companion Loan Holder identified to the Master Servicer to the Master Servicer’s reasonable satisfaction,
the Master Servicer may provide (or forward electronically) (at the expense of such Certificateholder or Companion Loan Holder)
copies of any appraisals, operating statements, rent rolls and financial statements obtained by the Master Servicer or the Special
Servicer; provided that, in

 

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connection therewith, the Master Servicer may require a written confirmation executed by the
requesting Person substantially in such form as may be reasonably acceptable to the Master Servicer or Special Servicer, generally
to the effect that such Person is a Holder of Certificates or Companion Loan Securities or a beneficial holder of Book-Entry Certificates
or a regulator or a governmental body and will keep such information confidential.

 

  (d)          The 17g-5 Information
Provider shall make available solely to the Depositor and to any NRSRO that delivers an NRSRO Certification to the 17g-5 Information
Provider the following items to the extent such items are delivered to it via electronic mail at 17g5information.provider@db.com
(or such other address as the 17g-5 Information Provider shall specify by written notice to the other parties hereto) in an electronic
format readable and uploadable (that is not locked or corrupted) on the 17g-5 Information Provider’s system, specifically
with a subject reference of “DBJPM 2016-SFC” and an identification of the type of information being provided in the
body of such electronic mail; or via any alternative electronic mail address following notice to the parties hereto or any other
delivery method established or approved by the 17g-5 Information Provider if or as may be necessary or beneficial (provided,
however, if such information is not in electronic format readable and uploadable (that is not locked or corrupted), then
the 17g-5 Information Provider shall immediately notify the applicable delivering party thereof, whereupon such party shall promptly
deliver the subject information in such format):

 

(i)             any waivers
delivered to the 17g-5 Information Provider pursuant to Section 3.09 of this Agreement;

 

(ii)            any Officer’s
Certificate supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance delivered to the
17g-5 Information Provider pursuant to Section 3.21(d) or Section 4.07(d) of this Agreement and notice of determination
not to refrain from reimbursement of all Nonrecoverable Advances;

 

(iii)           any
Asset Status Report delivered by the Special Servicer pursuant to Section 3.23(e) of this Agreement;

 

(iv)           any environmental
assessments delivered by the Special Servicer pursuant to Section 3.10(g) of this Agreement;

 

(v)            any annual
statements as to compliance and related Officer’s Certificates delivered pursuant to Section 11.07 and Section
11.08 of this Agreement;

 

(vi)           any annual
independent public accountants’ attestation reports delivered pursuant to Section 11.09 of this Agreement;

 

(vii)          any
Appraisals delivered to the 17g-5 Information Provider pursuant to Section 3.10 of this Agreement;

 

(viii)         any
notice to the Rating Agencies relating to the Special Servicer’s determination to take action without receiving a No Downgrade
Confirmation from any

 

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Rating Agency as set forth in the definition of “No Downgrade Confirmation” pursuant to Section
3.30 of this Agreement;

 

(ix)           copies
of any questions or requests submitted by the Rating Agencies directed toward the Master Servicer, Special Servicer, Certificate
Administrator or Trustee;

 

(x)            any requests
for a No Downgrade Confirmation that are delivered to the 17g-5 Information Provider pursuant to Section 3.30 of this Agreement;

 

(xi)           any notice
of resignation of the Trustee or Certificate Administrator and any notice of the acceptance of appointment by the successor Trustee
or successor Certificate Administrator pursuant to Section 8.07 or Section 8.08, as applicable, of this Agreement;

 

(xii)          any
notice of resignation or assignment of the rights of the Master Servicer or the Special Servicer pursuant to Section 6.04
of this Agreement;

 

(xiii)         any
notice of Servicer Termination Event or termination of the Master Servicer or the Special Servicer delivered pursuant to Section
7.03 of this Agreement;

 

(xiv)         any
notice of the merger or consolidation of the Certificate Administrator or the Trustee pursuant to Section 8.09 of this Agreement;

 

(xv)          any notice
of the merger or consolidation of the Master Servicer or the Special Servicer pursuant to Section 6.02 of this Agreement;

 

(xvi)         any
notice of any amendment that modifies the procedures herein relating to Exchange Act Rule 17g-5 pursuant to Section 10.08
of this Agreement;

 

(xvii)        any
notice or other information provided by the Master Servicer pursuant to Section 10.07 of this Agreement;

 

(xviii)       any
summary of oral communication with the Rating Agencies delivered to the 17g-5 Information Provider pursuant to Section 3.14(f)
of this Agreement; provided that the summary of such oral communication shall not attribute which Rating Agency the communication
was with;

 

(xix)         the
Rating Agency Q&A Forum and Document Request Tool; and

 

(xx)          such
information as is delivered to the 17g-5 Information Provider by the Depositor in mutually agreeable electronic format within fifteen
(15) days of the Closing Date.

 

      The foregoing information shall
be made available by the 17g-5 Information Provider on the 17g-5 Information Provider’s Website (a link to which shall be
provided on the Depositor’s website at www.intralinks.com or such other website as the Depositor may notify the parties hereto
in writing). Information will be posted on the same Business Day of receipt provided that such information is received by 2:00
p.m. (eastern time) or, if received after

 

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2:00 p.m., on the next Business Day by 12:00 p.m. (eastern time). The 17g-5 Information
Provider shall have no obligation or duty to verify, confirm or otherwise determine whether the information being delivered is
accurate, complete, conforms to the transaction, or otherwise is or is not anything other than what it purports to be or whether
such information (other than (solely with respect to the 17g-5 Information Provider’s obligation to post such information)
the information set forth in clauses (i) through (xix) above) is required to be posted on the 17g-5 Information
Provider’s Website pursuant to this Agreement or Rule 17g-5. In the event that any information is delivered or posted in
error, the 17g-5 Information Provider may remove it from the 17g-5 Information Provider’s Website. The Certificate Administrator
and the 17g-5 Information Provider have not obtained and shall not be deemed to have obtained actual knowledge of any information
only by receipt and posting to the 17g-5 Information Provider’s Website. Access will be provided by the 17g-5 Information
Provider to the Rating Agencies, and to the NRSROs upon receipt of an NRSRO Certification in the form of Exhibit O hereto
(which certification may be submitted electronically via the 17g-5 Information Provider’s Website) on the same Business Day
as the request if such certification is submitted by 2:00 p.m., and if such certification is submitted after 2:00 p.m., on the
following Business Day. Questions regarding delivery of information to the 17g-5 Information Provider may be directed to 17g5information.provider@db.com
(or such other address as the 17g-5 Information Provider shall specify by written notice to the other parties hereto).

 

Upon request of the Depositor
or the Rating Agencies or if otherwise required under this Agreement, the 17g-5 Information Provider shall post on the 17g-5 Information
Provider’s Website any additional information requested by the Depositor (including any pre-closing material from the Depositor’s
Rule 17g-5 website) or the Rating Agencies or otherwise required under this Agreement to the extent such information is delivered
to the 17g-5 Information Provider electronically in accordance with this Section 3.14 of this Agreement. In no event shall
any party to this Agreement disclose on the 17g-5 Information Provider’s Website which Rating Agency requested such additional
information. The Master Servicer or the Special Servicer, as applicable, may, but shall not be obligated to, provide information
to the 17g-5 Information Provider that is neither specifically required hereunder, nor required by any Rating Agency, and the 17g-5
Information Provider shall post such information pursuant to the terms hereof.

 

The 17g-5 Information Provider
shall notify (i) any party that delivers information to the 17g-5 Information Provider under this Agreement that such information
was received and (ii) any party that delivers information to the 17g-5 Information Provider under this Agreement and each Person
that has signed up for access to the 17g-5 Information Provider’s Website in respect of the transaction governed by this
Agreement each time an additional document is posted to the 17g-5 Information Provider’s Website and such notice shall specifically
identify such document. The 17g-5 Information Provider shall permit each Rating Agency to submit multiple email addresses for receipt
of notices, including a general email address. In addition to notifying each Person that has been signed up for access to the 17g-5
Information Provider’s Website when an additional document has been posted, the 17g-5 Information Provider shall automatically
provide such notifications to the following email addresses: E-mail: cmbssurveillance@krollbondratings.com and cmbs_info_17g5@standardandpoors.com.

 

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The 17g-5 Information Provider
shall make available, only to the Rating Agencies and NRSROs, the Rating Agency Q&A Forum and Document Request Tool. The “Rating
Agency Q&A Forum and Document Request Tool” shall be a service available on the 17g-5 Information Provider’s
Website, where Rating Agencies and NRSROs may (i) submit Inquiries to the Certificate Administrator relating to the Distribution
Date Statement, or submit Inquiries to the Master Servicer or the Special Servicer, as applicable, relating to the reports being
made available pursuant to this Section 3.14(d), the Whole Loan or the Mortgaged Property, (ii) view Inquiries that have
been previously submitted and answered, together with the answers thereto and (iii) submit requests for loan-level reports and
information. Upon receipt of an Inquiry for the Certificate Administrator, the Master Servicer or the Special Servicer, the 17g-5
Information Provider shall forward the Inquiry to the Certificate Administrator, the Master Servicer or the Special Servicer, as
applicable, in each case within a commercially reasonable period following receipt thereof. Following receipt of an Inquiry or
request relating to the subject matters described in clauses (i) or (iii) above, the Certificate Administrator, the
Master Servicer or the Special Servicer, as applicable, unless it determines not to answer such Inquiry as provided below, shall
reply to the Inquiry, which reply of the Certificate Administrator, Master Servicer or Special Servicer shall be by email to the
17g-5 Information Provider. The 17g-5 Information Provider shall post (within a commercially reasonable period following preparation
or receipt of such answer, as the case may be) such Inquiry and the related answer (or reports, as applicable) to the 17g-5 Information
Provider’s Website. Any report posted by the 17g-5 Information Provider in response to a request may be posted on a page
accessible by a link on the 17g-5 Information Provider’s Website. If the Certificate Administrator, the Master Servicer or
the Special Servicer determines, in its respective sole discretion, that (i) the Inquiry is beyond the scope outlined above, (ii)
answering any Inquiry would be in violation of applicable law, the Servicing Standard, this Agreement or the applicable Loan Documents,
(iii) answering any Inquiry would or is reasonably expected to result in a waiver of an attorney-client privilege or the disclosure
of attorney work product or is not otherwise advisable to answer or (iv)(A) answering any Inquiry would materially increase the
duties of, or result in significant additional cost or expense to, the Certificate Administrator, the Master Servicer or the Special
Servicer, as applicable, and (B) the Certificate Administrator, the Master Servicer or the Special Servicer, as applicable, determines
in accordance with the Servicing Standard (or in good faith, in the case of the Certificate Administrator) that the performance
of such duties or the payment of such costs and expenses is beyond the scope of its duties in its capacity as Certificate Administrator,
Master Servicer or Special Servicer, as applicable, under this Agreement, it shall not be required to answer such Inquiry and,
in the case of the Certificate Administrator, Master Servicer or the Special Servicer, shall promptly notify the 17g-5 Information
Provider, and the 17g-5 Information Provider shall post such Inquiry on the Rating Agency Q&A Forum and Document Request Tool
together with a statement that such Inquiry was not answered. Answers posted on the Rating Agency Q&A Forum and Document Request
Tool will be attributable only to the respondent, and shall not be deemed to be answers from any of the Depositor, the Initial
Purchasers, the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee or any of their respective
Affiliates and no such party shall have any responsibility or liability for the content of any such information. The 17g-5 Information
Provider shall not be required to post to the 17g-5 Information Provider’s Website any Inquiry or answer thereto that the
17g-5 Information Provider determines, in its sole discretion, is administrative or ministerial in nature. The Rating Agency Q&A
Forum and Document Request Tool will not reflect

 

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questions, answers and other communications between the 17g-5 Information Provider
and any Person which are not submitted via the 17g-5 Information Provider’s Website.

 

In connection with providing
access to the Certificate Administrator’s Website and the 17g-5 Information Provider’s Website, the Certificate Administrator
and/or the 17g-5 Information Provider may require registration and the acceptance of a disclaimer. The Certificate Administrator
and the 17g-5 Information Provider, as the case may be, shall not be liable for the dissemination of information in accordance
with the terms of this Agreement, make no representations or warranties as to the accuracy or completeness of such information
being made available, and assume no responsibility for such information; provided that it is acknowledged and agreed that
the 17g-5 Information Provider shall not be charged with knowledge of any of the contents of such information solely by virtue
of its compliance with its obligations to post such information to the 17g-5 Information Provider’s Website. The 17g-5 Information
Provider shall not be liable for its failure to make any information available to the NRSROs unless such information was delivered
to the 17g-5 Information Provider at the email address set forth herein (or other form of electronic delivery reasonably acceptable
to the 17g-5 Information Provider and Master Servicer or Special Servicer, as applicable) in an electronic format readable and
uploadable (that is not locked or corrupted) on the 17g-5 Information Provider’s system, with a subject heading of “DBJPM
2016-SFC” and sufficient detail to indicate that such information is required to be posted on the 17g-5 Information Provider’s
Website; provided, however, that if such information is not in electronic format readable and uploadable (that is
not locked or corrupted), then the 17g-5 Information Provider shall immediately notify the applicable delivering party thereof,
whereupon such party shall promptly deliver the subject information in such format.

 

The 17g-5 Information Provider
shall not be responsible or have any liability for any act, omission or delay attributable to the failure of any other party to
this Agreement to timely deliver information to be posted on the 17g-5 Information Provider’s Website or for any errors or
defects in the information supplied by any such party. Neither the Certificate Administrator nor the 17g-5 Information Provider
has obtained and neither shall be deemed to have obtained actual knowledge of any information solely by receipt or posting to the
Certificate Administrator’s Website or the 17g-5 Information Provider’s Website, as applicable.

 

The 17g-5 Information Provider’s
obligations in respect of Rule 17g-5 or any other law or regulation related thereto shall be limited to the specific obligations
contained in this Agreement and the 17g-5 Information Provider makes no representations or warranties as to the compliance of the
Depositor with Rule 17g-5 or any other law or regulation related thereto.

 

(e)          Each of the Master Servicer
and the Special Servicer may, in accordance with such reasonable rules and procedures as it may adopt, also deliver, produce or
otherwise make available through its website or otherwise, any additional information identified in Section 3.14(d) of this
Agreement relating to the Whole Loan, the Mortgaged Property or the Borrower, for review by the Depositor, the Initial Purchasers
and any other Persons who deliver an Investor Certification in accordance with this Section 3.14, the Companion Loan Holders
and the Rating Agencies (collectively, the “Disclosure Parties”) (only to the extent such additional information
is simultaneously or previously delivered to the 17g-5 Information Provider in accordance with the provisions of Section 3.14(d)
of this Agreement, which shall post such additional information on the 17g-5 Information Provider’s Website in accordance
with the provisions of Section

 

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 3.14(d) of this Agreement), in each case, except to the extent doing so is prohibited by
this Agreement, applicable law or by the Loan Documents. Each of the Master Servicer and the Special Servicer shall be entitled
to (i) indicate the source of such information and affix thereto any disclaimer it deems appropriate in its discretion and/or (ii)
require that the recipient of such information (A) except for the Depositor, enter into an Investor Certification or other confidentiality
agreement acceptable to the Master Servicer or the Special Servicer, as the case may be, and (B) acknowledge that the Master Servicer
or the Special Servicer may contemporaneously provide such information to any other Disclosure Party. In addition, to the extent
access to such information is provided via the Master Servicer’s or the Special Servicer’s website, the Master Servicer
and the Special Servicer may require registration and the acceptance of a reasonable and customary disclaimer and/or an additional
or alternative agreement as to the confidential nature of such information. In connection with providing access to or copies of
the information described in this Section 3.14(e) to current or prospective Certificateholders the form of confidentiality
agreement used by the Master Servicer or the Special Servicer, as applicable, shall be: (i) in the case of a Certificateholder
(or a licensed or registered investment advisor acting on behalf of such Certificateholder), an Investor Certification executed
by the requesting Person indicating that such Person is a Holder of Certificates and will keep such information confidential (except
that such Certificateholder may provide such information (x) to its auditors, legal counsel and regulators and (y) to any other
Person that holds or is contemplating the purchase of any Certificate or interest therein (provided that such other Person
confirms in writing such ownership interest or prospective ownership interest and agrees to keep such information confidential));
and (ii) in the case of a prospective purchaser of Certificates or interests therein (or a licensed or registered investment advisor
acting on behalf of such prospective purchaser), an Investor Certification indicating that such Person is a prospective purchaser
of a Certificate or an interest therein and is requesting the information for use in evaluating a possible investment in Certificates
and will otherwise keep such information confidential with no further dissemination (except that such Certificateholder may provide
such information to its auditors, legal counsel and regulators). In the case of a licensed or registered investment advisor acting
on behalf of a current or prospective Certificateholder, the Investor Certification shall be executed and delivered by both the
investment advisor and such current or prospective Certificateholder.

 

Neither the Master Servicer nor
the Special Servicer shall be liable for its dissemination of information in accordance with this Agreement or by others in violation
of the terms of this Agreement. Neither the Master Servicer nor the Special Servicer shall be responsible or have any liability
for the completeness or accuracy of the information delivered, produced or otherwise made available pursuant to this Section
3.14 unless (i) the Master Servicer or Special Servicer, as applicable, is the original source for such information and (ii)
such failure to deliver complete and accurate information is by reason of such party’s willful misconduct, bad faith, fraud
and/or negligence.

 

(f)          The Master Servicer, the
Special Servicer, the Certificate Administrator and the Trustee shall be permitted (but shall not be required) to orally communicate
with the Rating Agencies regarding the Trust Loan, the Whole Loan, any Class of Certificates, the Companion Loan Holders, the Mortgaged
Property or any REO Property; provided that such party summarizes the information provided to the Rating Agencies in such
communication and provides the 17g-5 Information Provider with such summary in accordance with the procedures

 

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set forth in Section
3.14(d) of this Agreement the same day such communication takes place; provided that the summary of such oral communications
shall not attribute which Rating Agency the communication was with. The 17g-5 Information Provider shall post such summary on the
17g-5 Information Provider’s Website in accordance with the procedures set forth in Section 3.14(d) of this Agreement.

 

(g)          None of the foregoing
restrictions in this Section 3.14 or otherwise in this Agreement shall prohibit or restrict oral or written communications,
or providing information, between the Master Servicer, or the Special Servicer, on the one hand, and any Rating Agency or NRSRO,
on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s review of the ratings it assigns to the Master
Servicer, or the Special Servicer, as applicable, (ii) such Rating Agency’s or NRSRO’s approval of the Master Servicer,
or the Special Servicer, as applicable, as a commercial mortgage master, special or primary servicer or (iii) such Rating Agency’s
or NRSRO’s evaluation of the Master Servicer’s, or the Special Servicer’s, as applicable, servicing operations
in general; provided that the Master Servicer, or the Special Servicer, as applicable, shall not provide any information
relating to the Certificates or the Trust Loan to any Rating Agency or NRSRO in connection with such review and evaluation by such
Rating Agency or NRSRO unless (x) Borrower, property and other deal specific identifiers are redacted; (y) such information has
already been provided to the 17g-5 Information Provider pursuant to the terms hereof; or (z) the Rating Agency confirms in writing
that it does not intend to use such information in undertaking credit rating surveillance with respect to the Certificates; provided,
however, that the Rating Agencies may use information delivered in reliance on the certification provided in this clause
(z) for any purpose to the extent it is publicly available (unless the availability results from a breach of this Agreement
or any other confidentiality agreement to which such Rating Agency is subject) or comprises information collected by the applicable
Rating Agency from the 17g-5 Information Provider’s Website (or another 17g-5 information provider’s website that such
Rating Agency has access to) (in each case, subject to any agreement governing the use of such information, including any engagement
letter with the Depositor or any other applicable depositor).

 

(h)          The costs and expenses
of compliance with this Section 3.14 by the Depositor, the Master Servicer, the Special Servicer, the Trustee and any other
party hereto shall not be Additional Trust Fund Expenses.

 

(i)          If any of the parties
to this Agreement receives a Form ABS Due Diligence-15E from any party in connection with any third-party due diligence services
such party may have provided with respect to the Trust Loan (“Due Diligence Service Provider”), such receiving
party shall promptly forward such Form ABS Due Diligence-15E to the 17g-5 Information Provider for posting on the 17g-5 Information
Provider’s Website. The 17g-5 Information Provider shall post on the 17g-5 Information Provider’s Website any Form
ABS Due Diligence-15E it receives directly from a Due Diligence Service Provider or from another party to this Agreement, promptly
upon receipt thereof.

 

Section 3.15          Title
and Management of REO Property and REO Accounts. (a) In the event that title to the Mortgaged Property is acquired for the benefit
of Certificateholders and the Companion Loan Holders in foreclosure, by deed-in-lieu of foreclosure or upon abandonment or reclamation
from bankruptcy, the deed or certificate of sale shall be taken in the name of the Trustee, or its nominee (which shall not include
the Master Servicer), or a separate

 

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Trustee or co-Trustee, in each case on
behalf of the Trust Fund and the Companion Loan Holders. The Special Servicer, on behalf of the Trust Fund and the Companion Loan
Holders, shall dispose of any REO Property prior to the close of the third calendar year following the year in which the Trust
Fund acquires ownership of the REO Property for purposes of Section 860G(a)(8) of the Code, unless (i) the Special Servicer on
behalf of the Lower-Tier REMIC has applied for an extension of such period pursuant to Sections 856(e)(3) and 860G(a)(8)(A) of
the Code, in which case the Special Servicer shall sell the REO Property within the applicable extension period or if the Special
Servicer has applied for extension as provided in this clause (i) but such request has not yet been granted or denied,
the additional time specified in such request, or (ii) the Special Servicer seeks and subsequently receives an Opinion of Counsel
(which opinion shall be an expense of the Trust Fund and allocated in accordance with the allocation provisions set forth in the
Co-Lender Agreement), addressed to the Special Servicer, the Certificate Administrator and the Trustee, to the effect that the
holding by the Trust Fund of the REO Property for an additional specified period will not cause the REO Property to fail to qualify
as “foreclosure property” within the meaning of Section 860G(a)(8) of the Code (determined without regard to the exception
applicable for purposes of Section 860D(a) of the Code) at any time that any Certificate is outstanding, in which event such period
shall be extended by such additional specified period subject to any conditions set forth in such Opinion of Counsel. The Special
Servicer, on behalf of the Trust Fund and the Companion Loan Holders, shall dispose of any REO Property held by the Trust Fund
prior to the last day of such period (taking into account extensions) by which the REO Property is required to be disposed of pursuant
to the provisions of the immediately preceding sentence in a manner provided under Section 3.16 hereof. The Special Servicer
shall manage, conserve, protect and operate the REO Property for the Certificateholders and the Companion Loan Holders solely for
the purpose of its prompt disposition and sale in a manner which does not cause the REO Property to fail to qualify as “foreclosure
property” within the meaning of Section 860G(a)(8) of the Code (determined without regard to the exception applicable for
purposes of Section 860D(a) of the Code) and such that income from the operation or sale of such property does not result in receipt
by the Trust Fund of any income from non-permitted assets as described in Section 860F(a)(2)(B) of the Code with respect to such
property.

 

(b)          The Special Servicer shall
have full power and authority, subject only to the Servicing Standard and the specific requirements and prohibitions of this Agreement,
to do any and all things in connection with any REO Property as are consistent with the manner in which the Special Servicer manages
and operates similar property owned or managed by the Special Servicer or any of its Affiliates, all on such terms and for such
period as the Special Servicer deems to be in the best interests of Certificateholders and the Companion Loan Holders, in connection
therewith, the Special Servicer shall agree to the payment of management fees that are consistent with general market standards.
Consistent with the foregoing, the Special Servicer shall cause or permit to be earned with respect to the REO Property any “net
income from foreclosure property”, within the meaning of Section 860G(c) of the Code, which is subject to tax under the REMIC
Provisions, only if it has determined, and has so advised the Trustee and the Certificate Administrator in writing, that the earning
of such income on a net after-tax basis could reasonably be expected to result in a greater recovery on behalf of Certificateholders
and the Companion Loan Holders than an alternative method of operation or rental of the REO Property that would not be subject
to such a tax.

 

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      The Special Servicer shall segregate
and hold all revenues received by it with respect to any REO Property separate and apart from its own funds and general assets
and shall establish and maintain with respect to any REO Property a segregated custodial account (each, an “REO Account”),
each of which shall be an Eligible Account and shall be entitled “Pacific Life Insurance Company, on behalf of Wilmington
Trust, National Association, as Trustee, for the benefit of the Holders of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through
Certificates, REO Account” and the Companion Loan Holders. The Special Servicer shall be entitled to withdraw for its account
any interest or investment income earned on funds deposited in the REO Account to the extent provided in Section 3.07(b)
of this Agreement. The Special Servicer shall deposit or cause to be deposited REO Proceeds in the REO Account within two (2) Business
Days after receipt of the REO Proceeds, and shall withdraw therefrom funds necessary for the proper operation, management and maintenance
of the REO Property and for other Property Protection Expenses with respect to the REO Property, including:

 

(i)           all insurance
premiums due and payable in respect of any REO Property;

 

(ii)          all real
estate taxes and assessments in respect of any REO Property that may result in the imposition of a lien thereon;

 

(iii)         all
costs and expenses reasonable and necessary to protect, maintain, manage, operate, repair and restore any REO Property; and

 

(iv)        any taxes
imposed on the Lower-Tier REMIC in respect of net income from foreclosure property in accordance with Section 4.05.

 

      To the extent that such REO Proceeds
are insufficient for the purposes set forth in clauses (i) through (iii) above, the Master Servicer shall make such
Advance unless the Master Servicer determines, in accordance with the Servicing Standard, that such Property Advance would constitute
a Nonrecoverable Advance (provided that with respect to advancing insurance premiums or delinquent tax assessments the Master
Servicer shall comply with the provisions of the second to last paragraph in Section 3.21(d) of this Agreement) and if the
Master Servicer does not make any such Advance, the Trustee, to the extent the Trustee has actual knowledge of the Master Servicer’s
failure to make such Advance, shall make such Advance, unless in each case, the Master Servicer or the Trustee, as applicable,
determines that such Advance would be a Nonrecoverable Advance. The Trustee shall be entitled to rely, conclusively, on any determination
by the Special Servicer or the Master Servicer, as applicable, that an Advance, if made, would be a Nonrecoverable Advance. The
Trustee, when making an independent determination whether or not a proposed Advance would be a Nonrecoverable Advance, shall make
such determination in accordance with Section 3.21(d) based on its reasonable judgment. The Master Servicer or the Trustee,
as applicable, shall be entitled to reimbursement of such Advances (with interest at the Advance Rate) made pursuant to the preceding
sentence, to the extent permitted by Section 3.06 of this Agreement. The Special Servicer shall withdraw from the REO Account
and remit to the Master Servicer for deposit into the Collection Account on a monthly basis prior to or on the related Due Date
the Net REO Proceeds received or collected from each REO Property, except that in determining the amount of such Net REO Proceeds,
the Special Servicer may retain in each REO Account reasonable reserves for repairs, replacements and necessary capital improvements
and other related expenses.

 

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      Notwithstanding the foregoing,
the Special Servicer shall not:

 

(i)           permit any
New Lease to be entered into, renewed or extended, if the New Lease by its terms will give rise to any income that does not constitute
Rents from Real Property;

 

(ii)          permit
any amount to be received or accrued under any New Lease, other than amounts that will constitute Rents from Real Property;

 

(iii)         authorize
or permit any construction on any REO Property, other than the repair or maintenance thereof or the completion of a building or
other improvement thereon, and then only if more than ten percent of the construction of such building or other improvement was
completed before default on the Trust Loan became imminent, all within the meaning of Section 856(e)(4)(B) of the Code; or

 

(iv)        Directly
Operate or allow any Person to Directly Operate any REO Property on any date more than 90 days after its date of acquisition by
the Trust Fund, unless such Person is an Independent Contractor;

 

unless, in any such case, the Special Servicer
has requested and received an Opinion of Counsel addressed to the Special Servicer, the Certificate Administrator and the Trustee
(which opinion shall be an expense of the Trust Fund and allocated in accordance with the allocation provisions of the Co-Lender
Agreement) to the effect that such action will not cause the REO Property to fail to qualify as “foreclosure property”
within the meaning of Section 860G(a)(8) of the Code (determined without regard to the exception applicable for purposes of Section
860D(a) of the Code) at any time that it is held by the Trust Fund, in which case the Special Servicer may take such actions as
are specified in such Opinion of Counsel.

 

     The Special Servicer shall be
required to contract with an Independent Contractor, the fees and expenses of which shall be an expense of the Trust Fund and allocated
in accordance with the allocation provisions of the Co-Lender Agreement and payable out of REO Proceeds, for the operation and
management of any REO Property, within 90 days of the Trust Fund’s acquisition thereof (unless the Special Servicer shall
have provided the Trustee and the Certificate Administrator with an Opinion of Counsel that the operation and management of any
REO Property other than through an Independent Contractor shall not cause the REO Property to fail to qualify as “foreclosure
property” within the meaning of Section 860G(a)(8) of the Code) (which opinion shall be an expense of the Trust Fund and
allocated in accordance with the allocation provisions of the Co-Lender Agreement; provided that:

 

(i)           the terms
and conditions of any such contract shall be reasonable and customary for the area and type of property and shall not be inconsistent
herewith;

 

(ii)          any such
contract shall require, or shall be administered to require, that the Independent Contractor pay all costs and expenses incurred
in connection with the operation and management of the REO Property, including those listed above, and remit all related revenues
(net of such costs and expenses) to the Special Servicer as soon as practicable, but in no event later than 30 days following the
receipt thereof by such Independent Contractor;

 

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(iii)          none of
the provisions of this Section 3.15(b) relating to any such contract or to actions taken through any such Independent Contractor
shall be deemed to relieve the Special Servicer of any of its duties and obligations to the Trust Fund, the Trustee on behalf of
the Certificateholders and the Companion Loan Holders, with respect to the operation and management of any the REO Property; and

 

(iv)          the Special
Servicer shall be obligated with respect thereto to the same extent as if it alone were performing all duties and obligations in
connection with the operation and management of the REO Property.

 

The Special Servicer shall be
entitled to enter into any agreement with any Independent Contractor performing services for it related to its duties and obligations
hereunder for indemnification of the Special Servicer by such Independent Contractor, and nothing in this Agreement shall be deemed
to limit or modify such indemnification.

 

(c)           Promptly following any
acquisition by the Special Servicer of an REO Property on behalf of the Trust Fund, the Special Servicer shall notify the Master
Servicer thereof, and, the Special Servicer shall obtain an Updated Appraisal thereof, but only in the event that any Updated Appraisal
with respect thereto is more than 9 months old and the Special Servicer has no actual knowledge of any material adverse change
in circumstances that, consistent with the Servicing Standard, would call into question the validity of such Updated Appraisal,
in order to determine the fair market value of the REO Property and shall notify the Depositor and the Master Servicer and the
Companion Loan Holders of the results of such Appraisal. Any such Appraisal shall be conducted in accordance with Appraisal Institute
standards and the cost thereof shall be advanced as a Property Advance. The Special Servicer shall obtain a new Updated Appraisal
or a letter update every 9 months thereafter until the REO Property is sold.

 

(d)           When and as necessary,
the Special Servicer shall send to the Certificate Administrator a statement prepared by the Special Servicer setting forth the
amount of net income or net loss, as determined for federal income tax purposes, resulting from the operation and management of
a trade or business on, the furnishing or rendering of a non-customary service to the tenants of, or the receipt of any other amount
not constituting Rents from Real Property in respect of, any REO Property in accordance with Sections 3.15(a) and 3.15(b)
of this Agreement.

 

Section
3.16          Sale of a Specially Serviced Loan or the REO
Property.  (a) The parties hereto may sell or purchase, or permit the sale or purchase of, the Whole Loan only on
the terms and subject to the conditions set forth in this Section 3.16 or as otherwise expressly provided in or
contemplated by Section 2.03(e) and Section 9.01 of this Agreement or in the Co-Lender Agreement.

 

(b)           If the Special Servicer
determines in accordance with the Servicing Standard that it would be in the best interests of the Certificateholders and the Companion
Loan Holders (as a collective whole as if such Certificateholders and Companion Loan Holders constituted a single lender) to attempt
to sell the Trust Loan if it is a Defaulted Mortgage Loan, the Special Servicer shall use efforts consistent with the Servicing
Standard to solicit offers for such Defaulted Mortgage Loan on behalf of the Certificateholders and the Companion Loan

 

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Holders
in such manner as will be reasonably likely to realize a fair price; provided, that the Special Servicer shall be required
to sell (with the consent of the Directing Holder during a Subordinate Control Period) the Trust Loan together with the Companion
Loans as one Whole Loan (subject to the terms of the Co-Lender Agreement). The Special Servicer shall accept the first (and, if
multiple offers are received, the highest cash offer received in the solicitation process within the time frame set for such process
by the Special Servicer) cash offer received from any Person that constitutes a fair price for such Defaulted Mortgage Loan, subject
to any consent or consultation rights of the Directing Holder during any Subordinate Control Period and any Subordinate Consultation
Period.

 

The Special Servicer shall give
the Trustee, the Certificate Administrator, the Master Servicer, the Directing Holder (during any Subordinate Control Period and
any Subordinate Consultation Period) and the Companion Loan Holders, not less than ten (10) Business Days’ prior written
notice of its intention to sell a Defaulted Mortgage Loan (and the Certificate Administrator shall promptly forward such notice
to the Certificateholders), and notwithstanding anything to the contrary herein, neither the Trustee, in its individual capacity,
nor any of its Affiliates may make an offer for or purchase any Defaulted Mortgage Loan pursuant to this Agreement. The notice
provided to each Companion Loan Holder pursuant to the previous sentence shall include notice of the Companion Loan Holder’s
opportunity to bid on the Defaulted Mortgage Loan.

 

(c)          Whether any cash offer
constitutes a fair price for such Defaulted Mortgage Loan, as the case may be, shall be determined by the Special Servicer, if
the highest offeror is a Person other than an Interested Person, and by the Trustee, if the highest offeror is an Interested Person.
In determining whether any offer received from an Interested Person represents a fair price for a Defaulted Mortgage Loan, the
Trustee shall be supplied with and shall rely on the most recent Appraisal or Updated Appraisal conducted in accordance with this
Agreement within the preceding 9-month period or in the absence of any such Appraisal, on a narrative appraisal prepared by an
Independent MAI appraiser selected by (i) the Special Servicer if the Special Servicer or an Affiliate of the Special Servicer
is not making an offer with respect to a Defaulted Mortgage Loan, (ii) by the Master Servicer if the Special Servicer is making
such an offer unless the Master Servicer and Special Servicer are Affiliates or (iii) the Trustee if the Master Servicer and Special
Servicer are Affiliates and the Special Servicer is making an offer. The cost of any such Updated Appraisal or narrative appraisal
shall be covered by, and shall be reimbursable as, a Property Advance. No offer from an Interested Person shall constitute a fair
price unless (i) if the offer is equal to or greater than the applicable Repurchase Price, the offer is the highest offer received,
or (ii) if the offer is less than the applicable Repurchase Price, (a) the offer is the highest offer received and (b) at least
two other offers are received from independent third parties. In addition, the Trustee shall be permitted to retain, at the expense
of the related Interested Person, an independent third party expert in real estate or commercial mortgage loan matters with at
least five years’ experience in valuing or investing in loans similar to the Trust Loan that has been selected with reasonable
care by the Trustee to determine such fair price and will be permitted to conclusively rely on the opinion of such third party’s
determination. Any costs and fees of the Trustee in connection with an offer by an Interested Person and the Trustee’s duties
therewith shall be paid by such Interested Person.

 

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In determining whether any offer
from a Person other than an Interested Person constitutes a fair price for a Defaulted Mortgage Loan, the Special Servicer shall
take into account (in addition to the results of any Appraisal, Updated Appraisal or narrative appraisal that it may have obtained
pursuant to this Agreement within the prior 9 months), and in determining whether any offer from an Interested Person constitutes
a fair price for such Defaulted Mortgage Loan, any appraiser shall be instructed to take into account, as applicable, among other
factors, the period and amount of the Delinquency on such Defaulted Mortgage Loan, the period and amount of the occupancy level
and physical condition of the Mortgaged Property, the state of the local economy in the area where the Mortgaged Property is located,
the expected recovery from such Defaulted Mortgage Loan if the Special Servicer were to pursue a workout strategy, and the time
and expense associated with a purchaser’s foreclosing on the Mortgaged Property. The Repurchase Price for a Defaulted Mortgage
Loan shall in all cases be deemed a fair price.

 

In addition, the Special Servicer
shall refer to all other relevant information obtained by it or otherwise contained in the Mortgage File; provided that
the Special Servicer shall take account of any change in circumstances regarding the Mortgaged Property known to the Special Servicer
that has occurred subsequent to, and that would, in the Special Servicer’s reasonable judgment, materially affect the value
of the Mortgaged Property reflected in the most recent related Appraisal. Furthermore, the Special Servicer may consider available
objective third party information obtained from generally available sources, as well as information obtained from vendors providing
real estate services to the Special Servicer, concerning the market for distressed real estate loans and the real estate market
for the subject property type in the area where the Mortgaged Property is located. The Special Servicer may, to the extent it is
reasonable to do so in accordance with the Servicing Standard, conclusively rely on any opinions or reports of qualified Independent
experts in real estate or commercial mortgage loan matters with at least five years’ experience in valuing or investing in
loans similar to the subject Specially Serviced Loan, selected with reasonable care by the Special Servicer, in making such determination.
All reasonable costs and expenses incurred by the Special Servicer pursuant to this Section 3.16(c) shall constitute, and
be reimbursable as, Property Advances. The other parties to this Agreement shall cooperate with all reasonable requests for information
made by the Special Servicer in order to allow the Special Servicer to perform its duties pursuant to this Section 3.16(c).

 

(d)          Subject to subsection
(c) above, the Special Servicer shall act on behalf of the Trustee (for the benefit of the Certificateholders and the Companion
Loan Holders) in negotiating and taking any other action necessary or appropriate in connection with the sale of a Defaulted Mortgage
Loan, and the applicable collection of all amounts payable in connection therewith. In connection therewith, the Special Servicer
may charge for its own account prospective offerors, and may retain, fees that approximate the Special Servicer’s actual
costs in the preparation and delivery of information pertaining to such sales or exchanging offers without obligation to deposit
such amounts into the REO Account or the Collection Account. Any sale of a Defaulted Mortgage Loan shall be final and without recourse
to the Trustee or the Trust Fund (except such recourse to the Trust Fund imposed by those representations and warranties typically
given in such transactions, any prorations applied thereto and any customary closing matters), and if such sale is consummated
in accordance with the terms of this Agreement, none of the Special Servicer, the Master Servicer, the Depositor, the Certificate
Administrator or the

 

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Trustee shall have any liability to any Certificateholder or Companion Loan Holder with respect to the purchase
price therefor accepted by the Special Servicer or the Trustee.

 

(e)         Any sale of a Defaulted
Mortgage Loan shall be for cash only.

 

(f)          [Reserved].

 

(g)         The parties hereto may
sell or purchase, or permit the sale or purchase of, an REO Property only on the terms and subject to the conditions set forth
in this Section 3.16.

 

(h)         The Special Servicer shall
use efforts consistent with the Servicing Standard to solicit offers for an REO Property on behalf of the Certificateholders and
the Companion Loan Holders and to sell such REO Property in the same manner as with respect to a Defaulted Mortgage Loan. The Special
Servicer shall accept the first (and, if multiple offers are contemporaneously received, the highest) cash offer received from
any Person that constitutes a fair price for the REO Property. If the Special Servicer determines, in its good faith and reasonable
judgment, that it will be unable to realize a fair price for any REO Property within the time constraints imposed by Section
3.15(a) of this Agreement, then the Special Servicer shall dispose of the REO Property upon such terms and conditions as the
Special Servicer shall deem necessary and desirable to maximize the recovery thereon under the circumstances and, in connection
therewith, shall accept the highest outstanding cash offer, regardless of from whom received.

 

The Special Servicer shall give
the Trustee, the Certificate Administrator and the Master Servicer, not less than ten (10) Business Days’ prior written notice
of its intention to sell an REO Property, and notwithstanding anything to the contrary herein, neither the Trustee, in its individual
capacity, nor any of its Affiliates may make an offer for or purchase any REO Property pursuant to this Agreement.

 

(i)          Whether any cash offer
constitutes a fair price for an REO Property, as the case may be, shall be determined by the Special Servicer, if the highest offeror
is a Person other than an Interested Person, and by the Trustee, if the highest offeror is an Interested Person; provided,
however, that no offer from an Interested Person shall constitute a fair price unless it is the highest offer received.
In determining whether any offer received from an Interested Person represents a fair price for an REO Property, the Trustee shall
be supplied with and shall rely on the most recent appraisal or Updated Appraisal conducted in accordance with this Agreement within
the preceding 9-month period or in the absence of any such appraisal, on a narrative appraisal prepared by an Independent MAI Appraiser
selected by the Special Servicer if the Special Servicer or an Affiliate of the Special Servicer is not making an offer with respect
to the REO Property (or by the Trustee if the Special Servicer is making such an offer). The cost of any such Updated Appraisal
or narrative appraisal and any related costs and fees of the Trustee shall be covered by, and shall be reimbursable as, a Property
Advance. The Trustee shall be permitted to retain, at the expense of the related Interested Person, an independent third party
to determine such fair price and shall be permitted to conclusively rely on the opinion of such third party’s determination.
In determining whether any offer from a Person other than an Interested Person constitutes a fair price for an REO Property, the
Special Servicer shall take into account (in addition to the results of any appraisal, updated appraisal or narrative appraisal
that it may have obtained pursuant to this Agreement within the prior 9 months), and in determining whether

 

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any offer from an Interested
Person constitutes a fair price for the REO Property, any appraiser shall be instructed to take into account, as applicable, among
other factors, the period and amount of the occupancy level and physical condition of the Mortgaged Property or REO Property, the
state of the local economy and the obligation to dispose of the REO Property within the time period specified in Section 3.15(a)
of this Agreement. The Repurchase Price for an REO Property shall in all cases be deemed a fair price.

 

(j)          Subject to subsections
(h) and (i) above, the Special Servicer shall act on behalf of the Trustee (for the benefit of the Certificateholders
and the Companion Loan Holders) in negotiating and taking any other action necessary or appropriate in connection with the sale
of an REO Property, and the applicable collection of all amounts payable in connection therewith. In connection therewith, the
Special Servicer may charge for its own account prospective offerors, and may retain, fees that approximate the Special Servicer’s
actual costs in the preparation and delivery of information pertaining to such sales or exchanging offers without obligation to
deposit such amounts into the Collection Account. Any sale of an REO Property shall be final and without recourse to the Trustee
or the Trust Fund (except such recourse to the Trust Fund imposed by those representations and warranties typically given in such
transactions, any prorations applied thereto and any customary closing matters), and if such sale is consummated in accordance
with the terms of this Agreement, none of the Special Servicer, the Master Servicer, the Depositor or the Trustee shall have any
liability to any Certificateholder or Companion Loan Holder with respect to the purchase price therefor accepted by the Special
Servicer or the Trustee.

 

(k)          Any sale of an REO Property
shall be for cash only.

 

(l)          Notwithstanding any of
the foregoing paragraphs of this Section 3.16, the Special Servicer shall not be required to accept the highest cash offer
if the Special Servicer determines, in its reasonable and good faith judgment, that rejection of such offer would be in the best
interests of the Certificateholders and the Companion Loan Holders, as a collective whole as if such Certificateholders and Companion
Loan Holders constituted a single lender, and the Special Servicer may accept a lower cash offer (from any Person other than itself
or an Affiliate) if it determines, in its reasonable and good faith judgment, that acceptance of such offer would be in the best
interests of the Certificateholders and the Companion Loan Holders (for example, if the prospective buyer making the lower offer
is more likely to perform its obligations or the terms offered by the prospective buyer making the lower offer are more favorable),
as a collective whole as if such Certificateholders and Companion Loan Holders constituted a single lender.

 

(m)         The Special Servicer shall
have the obligation to sell the Defaulted Mortgage Loan (including the Companion Loans) pursuant to the terms of the Co-Lender
Agreement as if the Trust Loan and the Companion Loans were one whole loan on behalf of the Certificateholders and the Companion
Loan Holders. The Special Servicer shall provide notice to the applicable Other Special Servicer (if any) and, to the extent it
has received prior written notice, the controlling class representative of the related Other Securitization Trust as soon as practicable
following its decision to attempt to sell, and prior to the commencement of marketing of, the Companion Loans.

 

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Section 3.17          Additional
Obligations of the Master Servicer and the Special Servicer; Inspections. (a) The Master Servicer (at its own expense)
(or, with respect to a Specially Serviced Loan or REO Property, the Special Servicer) shall inspect or cause to be inspected the
Mortgaged Property securing the Whole Loan at such times and in such manner as is consistent with the Servicing Standard, but
in any event shall inspect the Mortgaged Property at least once every 12 months commencing in 2017 (or at such decreased frequency
as each Rating Agency shall have provided a No Downgrade Confirmation relating to the Certificates and Companion Loan Securities);
provided, however, that if the Whole Loan becomes a Specially Serviced Loan, the Special Servicer is required to
inspect or cause to be inspected the Mortgaged Property as soon as practicable after the Whole Loan becomes a Specially Serviced
Loan and annually thereafter for so long as the Whole Loan remains a Specially Serviced Loan; provided, further,
that the Master Servicer will not be required to inspect the Mortgaged Property that has been inspected in the previous 12 months.
The cost of each such inspection performed in accordance with the Servicing Standard by the Special Servicer shall be paid by
the Master Servicer as a Property Advance; provided, however, that if such Advance would be a Nonrecoverable Advance,
then the cost of such inspections shall be an expense of the Trust payable from the Collection Account, which expense shall first
be reimbursed to the Trust as an Additional Trust Fund Expense; provided that in the case of any deficiency of amounts
on deposit in the Collection Account, the Master Servicer shall, after receiving payment or making payments from amounts on deposit
in the Collection Account, if any (i) promptly notify the Companion Loan Holders and (ii) use efforts consistent with the Servicing
Standard to exercise on behalf of the Trust the rights of the Trust under the Co-Lender Agreement to obtain reimbursement for
a pro rata portion of such amount allocable to each Companion Loan from the related Companion Loan Holder. The Master Servicer
or the Special Servicer, as applicable, shall prepare a written report of the inspection describing, among other things, the condition
of and any damage to the Mortgaged Property securing the Whole Loan and specifying the existence of any material vacancies in
the Mortgaged Property, any sale, transfer or abandonment of the Mortgaged Property of which it has actual knowledge, any material
adverse change in the condition of the Mortgaged Property, or any visible material waste committed on the Mortgaged Property.
The Master Servicer or Special Servicer, as applicable, shall send such reports to the 17g-5 Information Provider (which shall
promptly post such reports to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement)
and, upon request, to the Initial Purchasers within 20 days of completion, each inspection report, unless the Rating Agencies
notify the Master Servicer or Special Servicer, as applicable, that they do not want such reports.

 

(b)          The Master Servicer (with
respect to the Whole Loan if it is a Performing Loan) or the Special Servicer (with respect to the Whole Loan if it is a Specially
Serviced Loan), as applicable, shall exercise the Trustee’s rights, in accordance with the Servicing Standard, with respect
to any Manager under the related Loan Documents and Management Agreement, if any.

 

(c)          If the Master Servicer
has accepted a voluntary Principal Prepayment with respect to the Whole Loan (other than a Specially Serviced Loan or a previously
Specially Serviced Loan with respect to which the Special Servicer has waived or amended the prepayment restrictions) (except (A)
in accordance with the terms of the Loan Documents, (B) in connection with the payment of insurance proceeds or condemnation proceeds,
(C) subsequent to a default under the Loan Documents (provided that the Master Servicer reasonably believes that

 

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acceptance
of such prepayment is consistent with the Servicing Standard), (D) pursuant to applicable law or a court order, or (E) at the request
of or with the consent of the Special Servicer) resulting in a Prepayment Interest Shortfall the Master Servicer shall deliver
to the Certificate Administrator on each Servicer Remittance Date for deposit in the Lower-Tier Distribution Account (or with respect
to each Companion Loan, remit to the holder of the related Companion Loan a pro rata portion of the following amount), without
any right of reimbursement therefor, a cash payment (a “Master Servicer Prepayment Interest Shortfall Amount”),
in an amount equal to the lesser of (x) the aggregate amount of Prepayment Interest Shortfalls incurred in connection with such
voluntary Principal Prepayments received in respect of the Whole Loan (if it is a Performing Loan) during the related Collection
Period, and (y) the sum of (A) the aggregate of that portion of its Servicing Fees that is being paid in such Collection Period
(calculated for this purpose at 0.125 basis points (0.00125%) per annum) that is being paid in such Collection Period with
respect to the Whole Loan if it is a Performing Loan and (B) any Prepayment Interest Excess with respect to the related Collection
Period. The Master Servicer’s obligations to pay any Master Servicer Prepayment Interest Shortfall Amount, and the rights
of the Certificateholders to offset of the aggregate Prepayment Interest Shortfalls against those amounts, shall not be cumulative.

 

(d)          The Master Servicer shall,
if the Whole Loan is secured by the interest of the Borrower under a ground lease, promptly (and in any event within 60 days) after
the Closing Date deliver notice to the related ground lessor of the transfer of the Whole Loan to the Trust pursuant to this Agreement
and inform such ground lessor that any notices of default under the related ground lease should thereafter be forwarded to the
Master Servicer; provided that the Trust Loan Sellers shall cooperate with the Master Servicer with respect to such notices,
including, without limitation, providing the form of notice to be delivered to such ground lessors.

 

(e)          The Master Servicer shall,
to the extent consistent with the Servicing Standard and permitted by the Loan Documents, not apply any funds with respect to the
Whole Loan (whether arising in the form of a holdback, earnout reserve, cash trap or other similar feature) to the prepayment of
the Whole Loan prior to an event of default or reasonably foreseeable event of default with respect to the Whole Loan. Prior to
an event of default or reasonably foreseeable event of default any such amounts described in the immediately preceding sentence
shall be held by the Master Servicer as additional collateral for the Whole Loan.

 

Section 3.18          Authenticating
Agent.  The Certificate Administrator may appoint an Authenticating Agent to execute and to authenticate Certificates.
The Authenticating Agent must be acceptable to the Depositor and must be a corporation organized and doing business under the
laws of the United States of America or any state, having a principal office and place of business in a state and city acceptable
to the Depositor, having a combined capital and surplus of at least $15,000,000, authorized under such laws to do a trust business
and subject to supervision or examination by federal or state authorities. The Certificate Administrator shall serve as the initial
Authenticating Agent.

 

Any corporation into which the
Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Authenticating Agent shall be party, or any corporation succeeding to the corporate agency
business of the Authenticating Agent, shall be the

 

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Authenticating Agent without the execution or filing of any paper or any further
act on the part of the Certificate Administrator or the Authenticating Agent.

 

The Authenticating Agent may
at any time resign by giving at least 30 days’ advance written notice of resignation to the Certificate Administrator, the
Trustee, the Depositor and the Master Servicer. The Certificate Administrator may at any time terminate the agency of the Authenticating
Agent by giving written notice of termination to the Authenticating Agent, the Depositor and the Master Servicer. Upon receiving
a notice of resignation or upon such a termination, or in case at any time the Authenticating Agent shall cease to be eligible
in accordance with the provisions of this Section 3.18, the Certificate Administrator may appoint a successor Authenticating
Agent, which shall be acceptable to the Depositor, and shall mail notice of such appointment to all Certificateholders. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities
of its predecessor hereunder, with like effect as if originally named as Authenticating Agent herein. No successor Authenticating
Agent shall be appointed unless eligible under the provisions of this Section 3.18.

 

The Authenticating Agent shall
have no responsibility or liability for any action taken by it as such at the direction of the Certificate Administrator. Any compensation
paid to the Authenticating Agent shall be an unreimbursable expense of the Certificate Administrator, as applicable.

 

Section 3.19          Appointment
of Custodians.  Deutsche Bank Trust Company Americas is hereby appointed as the initial Custodian. The Certificate
Administrator may, at its own expense and with the consent of the Master Servicer, appoint one or more additional Custodians to
hold all or a portion of the Mortgage Files on behalf of the Trustee and otherwise perform the duties set forth in Article II,
by entering into a Custodial Agreement with any Custodian who is not the Depositor; provided that if the additional Custodian
is an Affiliate of the Certificate Administrator such consent of the Master Servicer need not be obtained and the Certificate
Administrator shall instead notify the Master Servicer of such appointment. The Certificate Administrator agrees to comply with
the terms of each Custodial Agreement and to enforce the terms and provisions thereof against the Custodian for the benefit of
the Certificateholders and the Companion Loan Holders. The Certificate Administrator shall not be liable for any act or omission
of the Custodian under the Custodial Agreement, nor will the Certificate Administrator have any obligation to oversee the activities
of a non-Affiliate Custodian. Each Custodian shall be a depository institution subject to supervision by federal or state authority,
shall have a combined capital and surplus (or shall have its performance guaranteed by an Affiliate with a combined capital and
surplus) of at least $10,000,000, shall have a long-term debt rating of at least “BBB” from S&P. Each Custodian
shall be subject to the same obligations and standard of care as would be imposed on the Certificate Administrator hereunder in
connection with the retention of the Mortgage File directly by the Certificate Administrator. The appointment of one or more Custodians
shall not relieve the Certificate Administrator from any of its duties, liabilities or obligations hereunder. If the Custodian
is an entity other than the Certificate Administrator, the Custodian shall maintain a fidelity bond in the form and amount that
are customary for securitizations similar to the securitization evidenced by this Agreement. The Custodian shall be deemed to
have complied with this provision if one of its Affiliates has such fidelity bond coverage and, by the terms of such fidelity
bond, the

 

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coverage afforded thereunder extends to the Custodian. In addition, the Custodian shall keep in force during the term
of this Agreement a policy or policies of insurance covering loss occasioned by the errors and omissions of its officers and employees
in connection with its obligations hereunder in the form and amount that are customary for securitizations similar to the securitization
evidenced by this Agreement. All fidelity bonds and policies of errors and omissions insurance obtained under this Section
3.19 shall be issued by a Qualified Insurer. For the avoidance of doubt, the Certificate Administrator shall bear no responsibility
for any acts or omissions on the part of the Custodian.

 

Section 3.20          Lock-Box
Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts. The Master Servicer shall administer each Lock-Box
Account, Cash Collateral Account, Escrow Account and Reserve Account in accordance with the Mortgage or Loan Agreement, Cash Collateral
Account Agreement or Lock-Box Agreement, if any relating to the Whole Loan it is servicing.

 

Section 3.21          Property
Advances. (a) The Master Servicer (or, to the extent provided in Section 3.21(c) of this Agreement, the Trustee)
to the extent specifically provided for in this Agreement, shall make any Property Advances as and to the extent otherwise required
pursuant to the terms hereof with respect to the Whole Loan. For purposes of distributions to Certificateholders and compensation
to the Master Servicer, the Special Servicer or the Trustee, Property Advances shall not be considered to increase the Stated
Principal Balance of the Whole Loan, notwithstanding that the terms of the Whole Loan so provide.

 

(b)          Notwithstanding anything
in this Agreement to the contrary, the Special Servicer shall give the Master Servicer not less than five (5) Business Days’
written notice with respect to any Property Advance to be made on a Specially Serviced Loan, before the date on which the Master
Servicer is required to make such Property Advance with respect to a Specially Serviced Loan or an REO Loan; provided, however,
that the Special Servicer shall be required to provide the Master Servicer with only two (2) Business Days’ written notice
in respect of Property Advances required to be made on an urgent or emergency basis (which may include, without limitation, Property
Advances required to make tax or insurance payments). If the Master Servicer, the Special Servicer or the Trustee makes a Property
Advance with respect to the Whole Loan, then it shall provide written notice to the related Other Servicer, Other Special Servicer
and Other Trustee of the amount of such Property Advance with respect to the Whole Loan within two (2) Business Days of making
such Property Advance.

 

(c)          The Master Servicer shall
notify the Trustee and the Certificate Administrator in writing promptly upon, and in any event within one Business Day after,
becoming aware that it will be unable to make any Property Advance required to be made pursuant to the terms hereof, and in connection
therewith, shall set forth in such notice the amount of such Property Advance, the Person to whom it is to be paid, and the circumstances
and purpose of such Property Advance, and shall set forth therein information and instructions for the payment of such Property
Advance, and, on the date specified in such notice for the payment of such Property Advance, or, if the date for payment has passed
or if no such date is specified, then within five (5) Business Days following such notice, the Trustee, subject to the provisions
of Section 3.21(d) of this Agreement, shall pay the amount of such Property Advance in accordance with such information
and instructions.

 

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(d)          The Special Servicer shall
promptly furnish any party required to make Property Advances hereunder with any information in its possession regarding a Specially
Serviced Loan or an REO Property as such party required to make Property Advances may reasonably request for purposes of making
nonrecoverability determinations. Notwithstanding anything to the contrary in this Agreement, the Special Servicer shall have no
obligation to make an affirmative determination that any Advance is, or would be, a Nonrecoverable Advance, and in the absence
of a determination by the Special Servicer that such an Advance is a Nonrecoverable Advance, then all such decisions shall remain
with the Master Servicer or the Trustee, as applicable.

 

Notwithstanding anything herein
to the contrary, no Property Advance shall be required hereunder if the Person otherwise required to make such Property Advance
determines that such Property Advance would, if made, constitute a Nonrecoverable Property Advance. In addition, the Master Servicer
shall not make any Property Advance to the extent that it determines or has received written notice that the Special Servicer has
determined that such Property Advance would, if made, constitute a Nonrecoverable Property Advance. In making such recoverability
determination, such Person will be entitled to (i) give due regard to the existence of any Nonrecoverable Advance with respect
to the Whole Loan, the recovery of which, at the time of such consideration, is being deferred or delayed by the Master Servicer
or the Trustee, as applicable, in light of the fact that proceeds on the Whole Loan are a source of recovery not only for the Property
Advance, Administrative Advance or P&I Advance under consideration, but also as a potential source of recovery of such Nonrecoverable
Advance which is being or may be deferred or delayed and (ii) consider (among other things) the obligations of the Borrower under
the terms of the Whole Loan as it may have been modified, (iii) consider (among other things) the Mortgaged Property in its “as-is”
or then-current condition and occupancy, as modified by such party’s assumptions (consistent with the Servicing Standard
in the case of the Master Servicer or the Special Servicer) regarding the possibility and effects of future adverse changes with
respect to the Mortgaged Property, (iv) estimate and consider (consistent with the Servicing Standard in the case of the Master
Servicer or the Special Servicer) (among other things) future expenses and (v) estimate and consider (among other things) the timing
of recoveries.

 

If an Appraisal of the Mortgaged
Property shall not have been obtained within the prior 9 month period (and the Master Servicer and the Trustee shall each request
any such appraisal from the Special Servicer prior to ordering an Appraisal pursuant to this sentence) or if such an Appraisal
shall have been obtained but as a result of unforeseen occurrences, such Appraisal does not, in the good faith determination of
the Master Servicer, the Special Servicer or the Trustee, reflect current market conditions, and the Master Servicer or the Trustee,
as applicable, and the Special Servicer cannot agree on the appropriate downward adjustment to such Appraisal, the Master Servicer,
the Special Servicer or the Trustee, as the case may be, may, subject to its reasonable and good faith determination that such
Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of
the Trust Fund (and such expense shall be allocated in accordance with the allocation provisions of the Co-Lender Agreement).

 

Any determination by the Master
Servicer, Special Servicer or the Trustee that the Master Servicer or Trustee, as the case may be, has made a Property Advance
that is a

 

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Nonrecoverable Property Advance or any determination by the Master Servicer, the Special Servicer or the Trustee that
any proposed Property Advance, if made, would constitute a Nonrecoverable Property Advance shall be evidenced, in the case of the
Master Servicer or the Special Servicer, by a certificate of a Servicing Officer delivered to the other, to the Trustee, the Certificate
Administrator, the Depositor, the Companion Loan Holders and the Directing Holder (during any Subordinate Control Period and any
Subordinate Consultation Period), and, in the case of the Trustee, by a certificate of a Responsible Officer of the Trustee, delivered
to the Depositor, the Certificate Administrator, the Master Servicer, the Special Servicer, the Companion Loan Holders and the
Directing Holder (during any Subordinate Control Period and any Subordinate Consultation Period), which in each case sets forth
such recoverability determination and the considerations of the Master Servicer, the Special Servicer or the Trustee, as applicable,
forming the basis of such determination (such certificate to be accompanied by, to the extent available, income and expense statements,
rent rolls, occupancy status, property inspections and other information used by the Master Servicer, the Special Servicer or the
Trustee, as applicable, to make such determination, together with any existing Appraisal or any Updated Appraisal); provided,
however, that the Special Servicer may, at its option, make a determination in accordance with the Servicing Standard, that
any Property Advance previously made or proposed to be made is nonrecoverable and shall deliver to the Master Servicer, the Certificate
Administrator, the Trustee, the Directing Holder (during any Subordinate Control Period and any Subordinate Consultation Period),
the Companion Loan Holders and the 17g-5 Information Provider (which shall promptly post such notice to the 17g-5 Information Provider’s
Website pursuant to Section 3.14(d) of this Agreement), notice of such determination together with a certificate of a Servicing
Officer and supporting information described above, if applicable. Any such determination shall be conclusive and binding on the
Master Servicer, the Special Servicer and the Trustee. Notwithstanding the foregoing, the Special Servicer shall have no obligation
to make an affirmative determination that any Advance is, or would be, a Nonrecoverable Advance, and in the absence of a determination
by the Special Servicer that such an Advance is a Nonrecoverable Advance, then all such decisions shall remain with the Master
Servicer.

 

Any such Person may update or
change its recoverability determinations at any time (but not reverse any other Person’s determination that a Property Advance
is a Nonrecoverable Advance) and (consistent with the Servicing Standard in the case of the Master Servicer or the Special Servicer)
may obtain, at the expense of the Trust (and such expense shall be allocated in accordance with the allocation provisions of the
Co-Lender Agreement), any analysis, Appraisals or market value estimates or other information for such purposes. Absent bad faith,
any such determination as to the recoverability of any Property Advance shall be conclusive and binding on the Certificateholders
and the Companion Loan Holders.

 

Notwithstanding the above, the
Trustee shall be entitled to rely conclusively on any determination by the Master Servicer and the Master Servicer and the Trustee
shall be bound by any determination of the Special Servicer that a Property Advance, if made, would be a Nonrecoverable Property
Advance. The Trustee, in determining whether or not a Property Advance previously made is, or a proposed Property Advance, if made,
would be, a Nonrecoverable Property Advance shall be subject to the standards applicable to the Master Servicer hereunder.

 

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With respect to the payment of
insurance premiums and delinquent tax assessments, in the event that the Master Servicer determines that a Property Advance of
such amounts would constitute a Nonrecoverable Advance, the Master Servicer shall deliver notice of such determination to the Trustee,
the Certificate Administrator and the Special Servicer. Upon receipt of such notice, the Master Servicer (with respect to the Whole
Loan if it is a Performing Loan) and the Special Servicer (with respect to the Whole Loan if it is a Specially Serviced Loan or
an REO Property) shall determine (with the reasonable assistance of the Master Servicer) whether the payment of such amount (i)
is necessary to preserve the Mortgaged Property and (ii) would be in the best interests of the Certificateholders and the Companion
Loan Holders, as a collective whole as if such Certificateholders and Companion Loan Holders constituted a single lender. If the
Master Servicer or the Special Servicer determines that the payment of such amount (i) is necessary to preserve the Mortgaged Property
and (ii) would be in the best interests of the Certificateholders and Companion Loan Holders, as a collective whole as if such
Certificateholders and Companion Loan Holders constituted a single lender, the Special Servicer (in the case of a determination
by the Special Servicer) shall direct the Master Servicer in writing to make such payment and, in either case, the Master Servicer
shall make such payment, to the extent of available funds, from amounts in the Collection Account.

 

Notwithstanding anything to the
contrary contained in this Section 3.21, the Master Servicer may elect (but shall not be required) to make a payment out
of the Collection Account to pay for certain expenses specified in this sentence notwithstanding that the Master Servicer has determined
that a Property Advance with respect to such expenditure would be a Nonrecoverable Property Advance (unless, with respect to the
Whole Loan if it is a Specially Serviced Loan or an REO Loan, the Special Servicer has notified the Master Servicer to not make
such expenditure), where making such expenditure would prevent (i) the Mortgaged Property from being uninsured or being sold at
a tax sale or (ii) any event that would cause a loss of the priority of the lien of the related Mortgage, or the loss of any security
for the Whole Loan; provided that in each instance, the Master Servicer determines in accordance with the Servicing Standard
(as evidenced by a certificate of a Servicing Officer delivered to the Trustee and the Certificate Administrator) that making such
expenditure is in the best interests of the Certificateholders and the Companion Loan Holders, all as a collective whole as if
such Certificateholders and Companion Loan Holders constituted a single lender. The Master Servicer may elect to obtain reimbursement
of Nonrecoverable Property Advances from the Trust Fund in accordance with Section 3.06 of this Agreement.

 

(e)          The Master Servicer and/or
the Trustee, as applicable, shall be entitled to the reimbursement of Property Advances made by it to the extent permitted pursuant
to Section 3.06 of this Agreement, if applicable, of this Agreement, together with any related Advance Interest Amount in
respect of such Property Advances, and the Master Servicer, the Special Servicer and the Trustee each hereby covenants and agrees
to promptly seek and effect the reimbursement of such Property Advances from the Borrower to the extent permitted by applicable
law and the related Loan Documents.

 

(f)          If the Master Servicer,
the Special Servicer or the Trustee, as applicable, determines that a proposed Property Advance, if made, or any outstanding Property
Advance with respect to any such Whole Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance or if the
Master Servicer, Special Servicer or Trustee, as applicable,

 

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subsequently determines that a proposed Property Advance would be
a Nonrecoverable Advance or an outstanding Property Advance is or would be a Nonrecoverable Advance, the Master Servicer or Trustee,
as applicable, shall provide the Other Servicer, Other Special Servicer and the Other Trustee under each related Other Pooling
and Servicing Agreement with written notice of such determination, together with supporting evidence for such determination, promptly
and in any event within two (2) Business Days after such determination or such longer time period permitted by the Co-Lender Agreement.

 

Section 3.22          Appointment
of Special Servicer. (a) Pacific Life Insurance Company, is hereby appointed as the initial Special Servicer to service
a Specially Serviced Loan. During any Subordinate Control Period, the Directing Holder shall have the right to direct the Trustee
to terminate the Special Servicer as provided in Section 7.01(c) hereof.

 

(b)          After the termination
of a Subordinate Control Period, upon (a) the written direction of holders of Principal Balance Certificates evidencing not less
than 25% of the Voting Rights (taking into account the application of any Appraisal Reduction Amounts to notionally reduce the
Certificate Balances of the Certificates pursuant to Section 4.08 of this Agreement) allocable to the Principal Balance
Certificates requesting a vote to replace the Special Servicer with a new special servicer designated in such written direction,
(b) payment by such holders to the Certificate Administrator of the reasonable fees and expenses (including any legal fees and
any Rating Agency fees and expenses) to be incurred by the Certificate Administrator in connection with administering such vote
and (c) delivery by such holders to the Certificate Administrator of a No Downgrade Confirmation and each rating agency relating
to the Companion Loan Securities, the Certificate Administrator shall promptly provide written notice to all Certificateholders
of such request by posting such notice on its internet website, and by mail, and conduct the solicitation of votes of all Certificates
in such regard. Upon the written direction of (i) Holders of Principal Balance Certificates evidencing at least 75% of a Certificateholder
Quorum or (ii) Holders of Non-Reduced Certificates evidencing more than 50% of the Voting Rights allocable to each Class of Non-Reduced
Certificates, to remove the Special Servicer, the Trustee shall (x) terminate all of the rights and obligations of the Special
Servicer under this Agreement and appoint the successor Special Servicer designated by such Certificateholders, provided
such termination is subject to the terminated Special Servicer’s rights to indemnification, payment of outstanding fees and
other compensation, reimbursement of advances and other rights set forth in this Agreement which survive termination and (y) promptly
notify such outgoing Special Servicer of the effective date of such termination; provided that if such written direction
is not provided within 180 days of the notice from the Certificate Administrator of the request for a vote to terminate and replace
the Special Servicer, then such written direction shall have no force and effect. The provisions set forth in the foregoing sentences
of this paragraph shall be binding upon and inure to the benefit of solely the Certificateholders and the Trustee as between each
other. The Special Servicer shall not have any cause of action based upon or arising from any breach or alleged breach of such
provisions other than as may arise as a result of the failure to comply with the above described voting procedures. As between
the Special Servicer, on the one hand, and the Certificateholders, on the other, the Certificateholders shall be entitled in their
sole discretion to vote for the termination or not vote for the termination of the Special Servicer. The Holders of the Certificates
that initiated the vote to replace the Special Servicer shall pay the costs and expenses incurred in connection with the removal
and replacement of the Special Servicer pursuant to this paragraph (including

 

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the costs associated with administering such vote).
The Certificate Administrator shall include on each Distribution Date Statement a statement that each Certificateholder and Beneficial
Owner may access notices on the Certificate Administrator’s Website and each Certificateholder and Beneficial Owner may register
to receive email notifications when such notices are posted on the Certificate Administrator’s Website; provided that
the Certificate Administrator shall be entitled to reimbursement from the requesting Certificateholders for the reasonable expenses
of posting such notices.

 

(c)          The Trustee shall, promptly
after receiving any removal notice pursuant to Section 3.22(b) or Section 7.01(c) of this Agreement or direction
to terminate pursuant to Section 3.22(a) of this Agreement, so notify the Certificate Administrator, the Companion Loan
Holders and the 17g-5 Information Provider (which shall promptly post such notice to the 17g-5 Information Provider’s Website
pursuant to Section 3.14(d) of this Agreement). The termination of the Special Servicer and appointment of a successor Special
Servicer pursuant to this Section 3.22 or Section 7.01(c) shall not be effective until (i) the delivery of a No Downgrade
Confirmation from each Rating Agency to the Trustee and a No Downgrade Confirmation with respect to the applicable Companion Loans,
(ii) the successor special servicer has assumed all of its responsibilities, duties and liabilities of the Special Servicer hereunder
pursuant to a writing reasonably satisfactory to the Trustee, (iii) receipt by the Trustee of an Opinion of Counsel to the effect
that (x) the designation of such replacement to serve as Special Servicer is in compliance with this Agreement, (y) such replacement
will be bound by the terms of this Agreement and (z) this Agreement will be enforceable against such replacement in accordance
with its terms and (iv) the replacement Special Servicer certifies that such replacement special servicer satisfies all related
qualifications set forth in the Co-Lender Agreement. Any successor Special Servicer shall make the representations and warranties
provided for in Section 2.04(e) of this Agreement applicable to the Special Servicer mutatis mutandis. Further,
such successor shall be a Person that satisfies all of the eligibility requirements applicable to special servicers contained in
this Agreement; provided that the licensing requirements set forth in Section 2.04(e) may, with respect to any successor
Special Servicer, be satisfied by a sub-servicer appointed by such successor Special Servicer in accordance with the terms of this
Agreement.

 

The existing Special Servicer
shall be deemed to have been removed simultaneously with such designated Person’s becoming the Special Servicer hereunder;
provided, however, that the Special Servicer removed pursuant to this Section shall be entitled to receive, and shall
have received, all amounts accrued or owing to it under this Agreement on or prior to the effective date of such resignation and
it shall continue to be entitled to any rights that accrued prior to the date of such resignation (including the right to receive
all fees, expenses and other amounts accrued or owing to it under this Agreement, plus the right to receive any Workout Fee and/or
Liquidation Fee specified in Section 3.12(c) of this Agreement in the event that the Special Servicer is terminated and
any indemnification rights that the Special Servicer is entitled to pursuant to Section 6.03(a) of this Agreement) notwithstanding
any such removal. Such removed Special Servicer shall cooperate with the Trustee and the replacement Special Servicer in effecting
the termination of the resigning Special Servicer’s responsibilities and rights hereunder, including without limitation the
transfer within two (2) Business Days to the successor Special Servicer for administration by it of all cash amounts that are thereafter
received with respect to the Whole Loan.

 

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(d)          The appointment of any
such successor Special Servicer shall not relieve the Master Servicer or the Trustee of their respective obligations to make Advances
as set forth herein; provided, however, that neither the Trustee nor the Master Servicer shall be liable for any
actions or any inaction of such successor Special Servicer.

 

(e)          No penalty or fee shall
be payable to the terminated Special Servicer with respect to any termination pursuant to this Section 3.22 or Section
7.01(c). All costs and expenses of any such termination made without cause shall be paid by the Trust as an Additional Trust
Fund Expense.

 

(f)          Notwithstanding anything
to the contrary contained in this Section 3.22, if the Special Servicer is a Borrower Related Party, the Special Servicer
shall resign as Special Servicer. In the event that the Special Servicer is required to resign as Special Servicer because it is
a Borrower Related Party, during any Subordinate Control Period or Subordinate Consultation Period, (i) if the Directing Holder
is not a Borrower Related Party, the Directing Holder shall appoint a successor special servicer that is not a Borrower Related
Party in accordance with this Agreement and (ii) if the Directing Holder is a Borrower Related Party, the largest Controlling Class
Certificateholder (by Certificate Balance) that is not an Excluded Controlling Class Holder shall appoint the successor special
servicer in accordance with this Agreement. None of the Depositor, Master Servicer, Trustee or Certificate Administrator shall
have any obligation to determine if the Special Servicer is or becomes a Borrower Related Party.

 

In the event that the Special
Servicer is required to resign as Special Servicer because it is a Borrower Related Party and either (i) a Subordinate Control
Period or a Subordinate Consultation Period is in effect, the Directing Holder is a Borrower Related Party and there is no Controlling
Class Certificateholder that is not a Borrower Related Party or (ii) neither a Subordinate Control Period nor a Subordinate Consultation
Period is in effect, then upon resignation of the Special Servicer, at the expense of the Issuing Entity, the Certificate Administrator
shall promptly provide written notice of such resignation to all Certificateholders by posting such notice on the Certificate Administrator’s
Website and the successor special servicer shall be appointed upon the written direction of more than 50% of the Voting Rights
of the Certificates that exercise their right to vote (provided that holders of at least 20% of the Voting Rights of the Certificates
exercise their right to vote). If such successor special servicer has not been appointed pursuant to the immediately preceding
sentence within 30 days after the Special Servicer has provided its written notice of resignation, the Certificate Administrator
shall provide written notice to the resigning Special Servicer that such successor special servicer has not been appointed and
such resigning Special Servicer shall use reasonable efforts to appoint such successor special servicer that is a Qualified Servicer
and the agreement of a proposed successor to accept the same or lower compensation, and at the expense of the Trust, if such successor
special servicer has not been appointed within 30 days after such notice by the Certificate Administrator to the resigning Special
Servicer, the resigning Special Servicer shall petition any court of competent jurisdiction for the appointment of a successor
special servicer.

 

The successor special servicer
shall perform all of the obligations of the Special Servicer and will be entitled to all special servicing compensation earned
during such time as the successor special servicer is acting as special servicer.

 

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Section 3.23          Transfer
of Servicing Between the Master Servicer and the Special Servicer; Record Keeping; Asset Status Report.  (a) Upon
the occurrence of any event specified in the definition of Specially Serviced Loan with respect to the Whole Loan of which the
Master Servicer has notice, the Master Servicer shall promptly give notice thereof to the Special Servicer, the Certificate Administrator,
the Trustee, the Companion Loan Holders and the Trust Loan Sellers, and shall use efforts in accordance with the Servicing Standard
to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage
File) and records (including records stored electronically) relating to the Whole Loan and reasonably requested by the Special
Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer
shall use efforts in accordance with the Servicing Standard to comply with the preceding sentence within five (5) Business Days
of the date it has notice of the occurrence of any event specified in the definition of Specially Serviced Loan and in any event
shall continue to act as Master Servicer and administrator of the Whole Loan until the Special Servicer has commenced the servicing
of the Whole Loan, which shall occur upon the receipt by the Special Servicer of the information, documents and records referred
to in the preceding sentence. With respect to the Whole Loan that becomes a Specially Serviced Loan, the Master Servicer shall
instruct the Borrower to continue to remit all payments in respect of the Whole Loan to the Master Servicer. The Master Servicer
shall forward any notices it would otherwise send to the Borrower of a Specially Serviced Loan to the Special Servicer, which
shall send such notice to the Borrower.

 

Upon determining that a Specially
Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall immediately give notice thereof to the Master Servicer,
and upon giving such notice, the Whole Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of
the definition of Specially Serviced Loan, the Special Servicer’s obligation to service the Whole Loan shall terminate and
the obligations of the Master Servicer to service and administer the Whole Loan as a Whole Loan that is not a Specially Serviced
Loan shall resume.

 

(b)          In servicing a Specially
Serviced Loan, the Special Servicer shall provide to the Custodian originals of documents included within the definition of “Mortgage
File” for inclusion in the Mortgage File (to the extent such documents are in the possession of the Special Servicer) and
copies of any additional Whole Loan information, including correspondence with the Borrower, and the Special Servicer shall promptly
provide copies of all of the foregoing to the Master Servicer as well as copies of any analysis or internal review prepared by
or for the benefit of the Special Servicer.

 

(c)          Not later than two (2)
Business Days preceding each date on which the Master Servicer is required to furnish a report under Section 3.13(a) of
this Agreement to the Certificate Administrator, the Special Servicer shall deliver to the Certificate Administrator, with a copy
to the Trustee and the Master Servicer, a written statement describing (i) the amount of all payments on account of interest received
on a Specially Serviced Loan, the amount of all payments on account of principal, including Principal Prepayments, on a Specially
Serviced Loan, the amount of Net Insurance Proceeds, Net Liquidation Proceeds and Net Condemnation Proceeds received with respect
to a Specially Serviced Loan, and the amount of net income or net loss, as determined from management of a trade or business on,
the furnishing or rendering of

 

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a non-customary service to the tenants of, or the receipt of any rental income that does not constitute
Rents from Real Property with respect to the REO Property relating to a Specially Serviced Loan, in each case in accordance with
Section 3.15 of this Agreement (it being understood and agreed that to the extent this information is provided in accordance
with Section 3.13(f) of this Agreement, this Section 3.23(c) shall be deemed to be satisfied) and (ii) such additional
information relating to a Specially Serviced Loan as the Master Servicer, the Certificate Administrator or the Trustee reasonably
request, to enable it to perform its duties under this Agreement. Such statement and information shall be furnished to the Master
Servicer in writing and/or in such electronic media as is acceptable to the Master Servicer.

 

(d)          Notwithstanding the provisions
of the preceding Section 3.23(c), the Master Servicer shall maintain ongoing payment records with respect to a Specially
Serviced Loan relating to the Trust Loan and shall provide the Special Servicer with any information reasonably required by the
Special Servicer to perform its duties under this Agreement. The Special Servicer shall provide the Master Servicer with any information
reasonably required by the Master Servicer to perform its duties under this Agreement.

 

(e)          No later than 60 days
after the Whole Loan becomes a Specially Serviced Loan, the Special Servicer shall deliver to the Master Servicer, the Directing
Holder (during any Subordinate Control Period and any Subordinate Consultation Period), the Companion Loan Holders and the 17g-5
Information Provider (which shall promptly post such report to the 17g-5 Information Provider’s Website pursuant to Section
3.14(d) of this Agreement), a report (the “Asset Status Report”) with respect to the Whole Loan and the
Mortgaged Property. Such Asset Status Report shall set forth the following information to the extent reasonably determinable:

 

(i)           the date
of transfer of servicing of the Whole Loan to the Special Servicer;

 

(ii)          a summary
of the status of the Specially Serviced Loan and any negotiations with the Borrower;

 

(iii)         a discussion
of the legal and environmental considerations reasonably known to the Special Servicer, consistent with the Servicing Standard,
that are applicable to the exercise of remedies as aforesaid and to the enforcement of any related guaranties or other collateral
for the Whole Loan and whether outside legal counsel has been retained;

 

(iv)         the most
current rent roll and income or operating statement available for the Mortgaged Property;

 

(v)          (A) the
Special Servicer’s recommendations on how the Specially Serviced Loan might be returned to performing status (including the
modification of a monetary term, and any workout, restructure or debt forgiveness) and returned to the Master Servicer for regular
servicing or foreclosed or otherwise realized upon (including any proposed sale of a Defaulted Mortgage Loan or REO Property),
(B) a description of any such proposed or taken actions, and (C) the alternative courses of action that were or are being considered
by the Special Servicer in connection with the proposed or taken actions;

 

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(vi)         the status
of any foreclosure actions or other proceedings undertaken with respect thereto, any proposed workouts with respect thereto and
the status of any negotiations with respect to such workouts, and an assessment of the likelihood of additional defaults under
the Whole Loan;

 

(vii)        a description
of any amendment, modification or waiver of a material term of any ground lease;

 

(viii)       the
decision that the Special Servicer made, or intends or proposes to make, including a narrative analysis setting forth the Special
Servicer’s rationale for its proposed decision, including its rejection of the alternatives;

 

(ix)         an analysis
of whether or not taking such proposed action is reasonably likely to produce a greater recovery on a present value basis than
not taking such action, setting forth (x) the basis on which the Special Servicer made such determination and (y) the net present
value calculation (including the applicable Calculation Rate used) and all related assumptions;

 

(x)          the appraised
value of the Mortgaged Property together with the assumptions used in the calculation thereof, and a copy of the last obtained
Appraisal of the Mortgaged Property; and

 

(xi)         such
other information as the Special Servicer deems relevant in light of the Servicing Standard.

 

The Special Servicer shall, subject
to the rights of the Directing Holder (during any Subordinate Control Period and any Subordinate Consultation Period), take such
actions consistent with the Servicing Standard and the Asset Status Report. The Special Servicer shall not take any action inconsistent
with the Asset Status Report, unless such action would be required in order to act in accordance with the Servicing Standard, this
Agreement, applicable law or the Loan Documents.

 

If, during any Subordinate Control
Period, (i) the Directing Holder affirmatively approves in writing an Asset Status Report, (ii) after ten (10) Business Days from
receipt of an Asset Status Report, together with all information in the possession of the Special Servicer that is reasonably necessary
for the Directing Holder to make a decision regarding the Asset Status Report, the Directing Holder does not object to such Asset
Status Report or (iii) within ten (10) Business Days after receipt of an Asset Status Report, together with all information in
the possession of the Special Servicer that is reasonably necessary for the Directing Holder to make a decision regarding the Asset
Status Report, the Directing Holder objects to such Asset Status Report and the Special Servicer makes a determination in accordance
with the Servicing Standard that such objection is not in the best interest of all the Certificateholders, then the Special Servicer
shall take the recommended actions described in the Asset Status Report. Within ten (10) Business Days after receipt of an Asset
Status Report, together with all information reasonably requested by the Directing Holder in the possession of the Special Servicer
that is reasonably necessary to make a decision regarding the Asset Status Report, the Directing Holder may object to such Asset
Status Report; provided that following the occurrence of an extraordinary event with respect to the Mortgaged Property,
or if a failure to take any such

 

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action at such time would be inconsistent with the Servicing Standard, the Special Servicer may
take actions with respect to the Mortgaged Property before the expiration of such ten (10) Business Day period if the Special Servicer
reasonably determines in accordance with the Servicing Standard that failure to take such action before the expiration of such
ten (10) Business Day period would materially and adversely affect the interest of the Certificateholders, and, during any Subordinate
Control Period, the Special Servicer has made a reasonable effort to contact the Directing Holder.

 

During any Subordinate Control
Period, if the Directing Holder objects to an Asset Status Report within the above-referenced ten (10) Business Day period, then
the Special Servicer (absent a determination set forth in clause (iii) of the first sentence of the immediately preceding
paragraph) shall revise such Asset Status Report as soon as practicable thereafter, but in no event later than thirty (30) days
after the objection to the Asset Status Report by the Directing Holder. During any Subordinate Control Period, the Special Servicer
shall revise such Asset Status Report as provided in the prior paragraph until the earlier of (a) the delivery by the Directing
Holder of an affirmative approval in writing of such revised Asset Status Report, (b) the failure of the Directing Holder to disapprove
such revised Asset Status Report in writing within ten (10) Business Days of its receipt thereof and (c) the determination of the
Special Servicer, consistent with the Servicing Standard, that the objection of the Directing Holder is not in the best interests
of all the Certificateholders and the Companion Loan Holders. In any event, during any Subordinate Control Period, if the Directing
Holder does not approve an Asset Status Report within ninety (90) days from the first submission of such Asset Status Report or
the Special Servicer’s determination to take the recommended action as provided in the immediately preceding paragraph, the
Special Servicer shall take such action as set forth in the most recent Asset Status Report; provided that such action does
not violate the Servicing Standard. The Special Servicer may, from time to time, modify any Asset Status Report it has previously
delivered and implement the new action in such revised report so long as such revised report has been prepared, reviewed and either
approved or not rejected as provided above.

 

During any Subordinate Consultation
Period, the Directing Holder shall be entitled to consult with the Special Servicer and propose alternative courses of action in
respect of any Asset Status Report. During any Subordinate Consultation Period, the Special Servicer shall consider such alternative
courses of action and any other feedback provided by the Directing Holder, as applicable. The Special Servicer may revise the Asset
Status Reports as it deems reasonably necessary in accordance with the Servicing Standard to take into account any input and/or
recommendations of the Directing Holder during any Subordinate Consultation Period.

 

The Asset Status Report is not
intended to replace or satisfy any other specific consent or approval right which the Directing Holder may have.

 

The Special Servicer may not
take any action inconsistent with an Asset Status Report that has been adopted as provided above, unless such action would be required
in order to act in accordance with the Servicing Standard. During any Subordinate Control Period or any Subordinate Consultation
Period, if the Special Servicer takes any action inconsistent with an Asset Status Report that has been adopted as provided above,
the Special Servicer shall promptly notify the Directing Holder of such inconsistent action and provide a reasonably detailed explanation
of the reasons therefor.

 

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The Special Servicer shall deliver
to the Master Servicer, the Directing Holder (during any Subordinate Control Period and any Subordinate Consultation Period), the
17g-5 Information Provider (which shall promptly post the same to the 17g-5 Information Provider’s Website), the Companion
Loan Holders and, subject to Section 4.02(c), each Rating Agency a copy of each Final Asset Status Report, in each case
with reasonable promptness following the adoption thereof.

 

Notwithstanding anything herein
to the contrary: (i) the Special Servicer shall have no right or obligation to consult with or to seek and/or obtain consent or
approval from the Directing Holder prior to acting (and provisions of this Agreement requiring such consultation, consent or approval
shall be of no effect) during the period following any resignation or removal of the Directing Holder and before a replacement
is selected and/or identified; and (ii) no advice, direction or objection from or by the Directing Holder, as contemplated by Section
6.09 or pursuant to any other provision of this Agreement, as contemplated by this Agreement or any intercreditor agreement,
may (and the applicable Special Servicer shall ignore and act without regard to any such advice, direction or objection that such
Special Servicer has determined, in its reasonable, good faith judgment, would): (A) require or cause such Special Servicer to
violate applicable law, the terms of the Loan Documents, any intercreditor agreement or any Section of this Agreement, including
the Special Servicer’s obligation to act in accordance with the Servicing Standard, (B) expose the Trust, any Certificateholder,
the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or any of their respective
Affiliates, members, managers, officers, directors, employees or agents, to any material claim, suit or liability or (C) materially
expand the scope of the Master Servicer’s, Special Servicer’s, Certificate Administrator’s or Trustee’s
responsibilities under this Agreement.

 

(f)          While the Whole Loan is
a Specially Serviced Loan, the Special Servicer shall have the authority to meet with the Borrower.

 

(g)         The Special Servicer shall
(x) deliver to the Certificate Administrator a proposed notice to Certificateholders that will include a summary of any Final Asset
Status Report in an electronic format (which shall be a brief summary of the current status of the Mortgaged Property and strategy
with respect to the resolution and workout of the Trust Loan), and the Certificate Administrator shall post such summary on the
Certificate Administrator’s Website pursuant to Section 4.02(b) and shall deliver such summary of any Asset Status
Reports to the 17g-5 Information Provider (which shall post such summary to the website pursuant to Section 4.02(b)) and
(y) implement the applicable Final Asset Status Report in the form delivered to the 17g-5 Information Provider pursuant
to Section 3.23(e). The Special Servicer may, from time to time, modify any Asset Status Report it has previously delivered
and, following the prompt delivery of such modified Asset Status Report to the 17g-5 Information Provider, which the 17g-5 Information
Provider shall post on the 17g-5 Information Provider’s Website pursuant to Section 4.02(b), implement such report.

 

(h)         If
a Responsible Officer or Servicing Officer, as applicable, of any of the Master Servicer, Special Servicer, Depositor, Trustee
or Certificate Administrator shall receive written notice pursuant to the mezzanine intercreditor agreement that the mezzanine
lender has either accelerated the Mezzanine Loan or commenced foreclosure proceedings against the

 

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Mezzanine Collateral or collateral
related to a future mezzanine loan, as applicable, it shall provide such notice in the form of Exhibit R to the other parties
hereto.

 

Section 3.24          Special
Instructions for the Master Servicer and/or Special Servicer. (a) Prior to taking any action with respect to the Whole
Loan secured by the Mortgaged Property located in a “one-action” state, the Master Servicer or Special Servicer, as
applicable, shall consult with legal counsel, the fees and expenses of which shall be an expense of the Trust Fund and shall be
allocated in accordance with the allocation provisions of the Co-Lender Agreement.

 

(b)          The Master Servicer shall
send written notice to the Borrower and the Manager and clearing bank relating to the Whole Loan that, if applicable, it and/or
the Trustee has been appointed as the “Designee” of the “Lender” under any related Lock-Box Agreement.

 

(c)          Without limiting the obligations
of the Master Servicer hereunder with respect to the enforcement of the Borrower’s obligations under the Loan Documents,
the Master Servicer agrees that it shall, in accordance with the Servicing Standard, enforce the provisions of the Loan Documents
relating to the Whole Loan with respect to the collection of Prepayment Charges.

 

(d)          In the event that a Rating
Agency shall charge a fee in connection with providing a No Downgrade Confirmation, the Master Servicer shall require the Borrower
to pay such fee to the extent not inconsistent with the applicable Loan Documents. In the event that such fee remains unpaid, such
fee shall be an expense of the Trust Fund (allocated as an Additional Trust Fund Expense in the same manner as Realized Losses
as set forth in Section 4.01(e) of this Agreement).

 

(e)          With respect to the Whole
Loan, to the extent not inconsistent with the Whole Loan, the Master Servicer shall not consent to a change of franchise affiliation
with respect to the Mortgaged Property, if applicable, or the property manager with respect to the Mortgaged Property unless the
Master Servicer obtains a No Downgrade Confirmation relating to the Certificates and Serviced Companion Loan Securities, if any.

 

Section
3.25         Certain Rights and Obligations of the Master Servicer
and/or the Special Servicer. In addition to its rights and obligations with respect to a Specially Serviced Loan, the
Special Servicer has the right, whether or not the Whole Loan is a Specially Serviced Loan, to approve (i) Major Decisions to
the extent described under Section 3.26 of this Agreement and (ii) certain waivers of due-on-sale or
due-on-encumbrance clauses as described above under Section 3.09 of this Agreement. With respect to a Performing Loan,
the Master Servicer shall promptly notify the Special Servicer of any request for approval (a “Request for
Approval”) received relating to the Special Servicer’s above-referenced approval rights and forward to the
Special Servicer written notice of any Request for Approval accompanied by its written recommendation and analysis and any
other information or documents reasonably requested by the Special Servicer (to the extent such information or documents are
in the Master Servicer’s possession). The Special Servicer shall have fifteen (15) Business Days (from the date that
the Special Servicer receives the information it requested from the Master Servicer) to analyze and make a recommendation
with respect to a Request for Approval with respect to a Performing Loan. If the Special Servicer does not respond within
such fifteen (15) Business-

 

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Day period (or in connection with an Acceptable Insurance Default, 90 days) (unless earlier
objected to), the Special Servicer’s consent shall be deemed given.

 

Section
3.26          Modification, Waiver, Amendment and Consents. (a)
Subject to Sections 3.25 and 3.26(f), and subject to the rights of the Directing Holder during any Subordinate
Control Period or Subordinate Consultation Period, (i) the Master Servicer (subject to the Special Servicer’s consent
if required pursuant to Sections 3.25 and 6.09(a)) or (ii) with respect to the Whole Loan if it is a Specially
Serviced Loan, the Special Servicer may modify, waive or amend any term of the Whole Loan if such modification, waiver or
amendment (A) is consistent with the Servicing Standard and (B) would not constitute a “significant
modification” of the Whole Loan pursuant to Treasury Regulations Section 1.860G-2(b) and would not otherwise (1) cause
either Trust REMIC to fail to qualify as a REMIC or (2) result in the imposition of a tax upon either Trust REMIC or the
Trust Fund (including but not limited to the tax on “prohibited transactions” as defined in Section 860F(a)(2) of
the Code and the tax on contributions to a REMIC set forth in Section 860G(d) of the Code, but not including the tax on
“net income from foreclosure property” under Section 860G(c) of the Code). In order to meet the foregoing
requirements in the case of a release of real property collateral securing the Whole Loan, the Master Servicer or Special
Servicer, as applicable, shall observe the REMIC requirements of the Code with respect to a required payment of principal if
the related loan-to-value ratio immediately after the release exceeds 125% with respect to the related real property.

 

(b)          Neither the Master Servicer
nor the Special Servicer may extend the Maturity Date of the Whole Loan beyond the date that is the date occurring later than seven
years prior to the Rated Final Distribution Date.

 

(c)          Neither the Master Servicer
nor the Special Servicer shall permit the Borrower to add or substitute collateral for an outstanding Whole Loan, which collateral
constitutes real property, unless the Master Servicer or the Special Servicer, as applicable, shall have obtained a No Downgrade
Confirmation relating to the Certificates and the Companion Loan Securities, if any.

 

(d)          Any payment of interest
that is deferred pursuant to any modification, waiver or amendment permitted hereunder, shall not, for purposes hereof, including,
without limitation, calculating monthly distributions to Certificateholders or Companion Loan Holders, be added to the unpaid principal
balance of the Whole Loan, notwithstanding that the terms of the Whole Loan or such modification, waiver or amendment so permit.

 

(e)          Except for waivers of
Penalty Charges and waivers of notice periods, all material modifications, waivers and amendments of the Whole Loan in accordance
with this Section 3.26 of this Agreement shall be in writing.

 

(f)          The Master Servicer or
the Special Servicer, as applicable, shall notify the Trustee, the Certificate Administrator, the Depositor, the Directing Holder
(during any Subordinate Control Period or any Subordinate Consultation Period), the Companion Loan Holders and the 17g-5 Information
Provider (which shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d)
of this Agreement), in writing, of any modification, waiver, material consent or amendment of any term of the Whole Loan and the
date thereof, and shall deliver to the Custodian for deposit in the Mortgage File, an original

 

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counterpart of the agreement relating
to such modification, waiver, material consent or amendment, promptly (and in any event within ten (10) Business Days) following
the execution thereof.

 

(g)          The Master Servicer or
the Special Servicer may (subject to the Servicing Standard), as a condition to granting any request by the Borrower for consent,
modification, waiver or indulgence or any other matter or thing, the granting of which is within its discretion pursuant to the
terms of the instruments evidencing or securing the Whole Loan and is permitted by the terms of this Agreement and applicable law,
require that the Borrower pay to it (i) as additional servicing compensation, a reasonable and customary fee for the additional
services performed in connection with such request (provided that the charging of such fee would not constitute a “significant
modification” of the Whole Loan within the meaning of Treasury Regulations Section 1.860G-2(b)), and (ii) any related costs
and expenses incurred by it. In no event shall the Master Servicer or the Special Servicer be entitled to payment for such fees
or expenses unless such payment is collected from the Borrower.

 

(h)          Notwithstanding the foregoing,
the Master Servicer shall not permit the substitution of any Mortgaged Property pursuant to the defeasance provisions of the Whole
Loan (or any portion thereof), if any, unless such defeasance complies with Treasury Regulations Section 1.860G-2(a)(8)(ii) and
satisfies the conditions set forth in Section 3.09(h) of this Agreement.

 

(i) 
         Notwithstanding anything herein or in the Loan Documents to the
contrary, the Master Servicer may permit the substitution of direct, non-callable “government securities” within
the meaning of Section 2(a)(16) of the Investment Company Act of 1940, or any other securities that comply with Treasury
Regulations Section 1.860G-2(a)(8)(ii) (including U.S. government agency securities if such securities are
eligible defeasance collateral under then current guidelines of the Rating Agencies) for the Mortgaged Property pursuant to
the defeasance provisions of the Whole Loan (or any portion thereof) in lieu of the defeasance collateral specified in the
Loan Documents; provided that, the Master Servicer receives an Opinion of Counsel (at the expense of the Borrower to
the extent permitted under the Loan Documents) to the effect that such use would not be and would not constitute a
“significant modification” of the Whole Loan pursuant to Treasury Regulations Section 1.860G-2(b) and would not
otherwise endanger the status of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or result in the imposition of a tax
upon the Lower-Tier REMIC, the Upper-Tier REMIC or the Trust Fund (including but not limited to the tax on “prohibited
transactions” as defined in Section 860F(a)(2) of the Code and the tax on contributions to a REMIC set forth in Section
860G(d) of the Code, but not including the tax on “net income from foreclosure property”).

 

(j) 
         Any modification, waiver or amendment of or consents or approvals
relating to the Whole Loan that is a Specially Serviced Loan or an REO Loan shall be performed by the Special Servicer and
not the Master Servicer.

 

(k)          Any modification, waiver
or amendment of or consents or approvals relating to the Whole Loan if it is a Performing Loan shall, unless otherwise set forth
in this Section 3.26, be subject to the consent of the Special Servicer pursuant to the requirements set forth in Section
3.25.

 

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Section 3.27          [Reserved].

 

Section 3.28          [Reserved].

 

Section 3.29          [Reserved].

 

Section 3.30          No
Downgrade Confirmation. (a) Notwithstanding the terms of any Loan Documents or other provisions of this Agreement, if any
action under the Loan Documents or this Agreement requires No Downgrade Confirmation as a condition precedent to such action,
if the party (the “Requesting Party”) attempting to obtain such No Downgrade Confirmation from each Rating
Agency has made a request to any Rating Agency for such No Downgrade Confirmation and, within ten (10) Business Days of the No
Downgrade Confirmation request being posted to the 17g-5 Information Provider’s Website, such Rating Agency has not replied
to such request or has responded in a manner that indicates that such Rating Agency is neither reviewing such request nor waiving
the requirement for No Downgrade Confirmation, then (i) such Requesting Party shall (without providing notice to the 17g-5 Information
Provider) confirm that the applicable Rating Agency has received the No Downgrade Confirmation request, and, if it has not, promptly
request the related No Downgrade Confirmation again, and (ii) if there is no response to either such No Downgrade Confirmation
request within five (5) Business Days of such second request, or such Rating Agency has responded in a manner that indicates it
is neither reviewing such request nor waiving the requirement for No Downgrade Confirmation, (x) with respect to any such condition
in any Loan Document requiring such No Downgrade Confirmation or any other matter under this Agreement relating to the servicing
of the Whole Loan (other than as set forth in clause (y) below), the Requesting Party (or, if the Requesting Party is the Borrower,
then the Master Servicer (with respect to the Whole Loan if it is a Performing Loan) or the Special Servicer (with respect to
the Whole Loan if it is Specially Serviced Loan or an REO Loan), as applicable) shall determine, in accordance with its duties
under this Agreement and in accordance with the Servicing Standard, except as provided in Section 3.30(b), whether or not
such action would be in the best interests of the Certificateholders and the Companion Loan Holders (as a collective whole as
if such Certificateholders and Companion Loan Holders constituted a single lender), and if the Requesting Party (or, if the Requesting
Party is the Borrower, then the Master Servicer or the Special Servicer, as applicable) determines that such action would be in
the best interest of the Certificateholders and the Companion Loan Holders, then the requirement for a No Downgrade Confirmation
will be deemed not to apply as to the non-responding Rating Agency, and (y) with respect to a replacement of the Master Servicer
or Special Servicer, such condition shall be deemed to be satisfied with respect to (i) KBRA, if KBRA has not cited servicing
concerns of the applicable replacement master servicer or 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 any other CMBS transaction serviced by the applicable servicer prior to the time of determination,
if KBRA is the non-responding Rating Agency; (ii) S&P, if the replacement servicer is listed on S&P’s Select Servicer
List as a U.S. Commercial Mortgage Master Servicer or a U.S. Commercial Mortgage Special Servicer, as applicable, if S&P is
the non-responding Rating Agency; and (iii) Moody’s, if it has been appointed and currently serves as a servicer or special
servicer, as applicable, on a transaction-level basis on a transaction currently rated by Moody’s that currently has securities
outstanding and for which Moody’s has not publicly cited servicing concerns of the applicable

 

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replacement servicer or special
servicer, as applicable, as the sole or a material factor in such rating action or any qualification, downgrade or withdrawal
of the ratings (or placement on “watch status” in contemplation of a rating downgrade or withdrawal) of securities
in a commercial mortgage-backed securitization transaction serviced by the applicable replacement servicer or special servicer
prior to the time of determination, if Moody’s is the non-responding Rating Agency (clauses (i), (ii) and
(iii), “Qualified Servicer”).

 

Any No Downgrade Confirmation
request made by the Master Servicer, Special Servicer, Certificate Administrator or Trustee, as applicable, pursuant to this Agreement,
shall be made in writing, which writing shall contain a cover page indicating the nature of the No Downgrade Confirmation request,
and shall contain all back-up material necessary for the Rating Agency to process such request. Such written No Downgrade Confirmation
request shall be provided in electronic format to the 17g-5 Information Provider, and the 17g-5 Information Provider shall post
such request on the 17g-5 Information Provider’s Website in accordance with Section 3.14(d) of this Agreement.

 

Promptly following the Master
Servicer’s or Special Servicer’s determination to take any action discussed in this Section 3.30(a) following
any requirement to obtain a No Downgrade Confirmation being considered satisfied, the Master Servicer or Special Servicer, as the
case may be, shall provide electronic written notice to the 17g-5 Information Provider of the action taken for the particular item
at such time, and the 17g-5 Information Provider shall post such notice on the 17g-5 Information Provider’s Website in accordance
with Section 3.14(d) of this Agreement.

 

(b)          Notwithstanding anything
to the contrary in this Section 3.29, for purposes of the provisions of any Loan Document relating to defeasance (including
without limitation the type of collateral acceptable for use as defeasance collateral), release or substitution of any collateral,
any No Downgrade Confirmation requirement in the Loan Documents with respect to which the Master Servicer or Special Servicer would
have been required to make the determination described in Section 3.30(a) shall be deemed not to apply regardless of any
such determination by the Requesting Party (or, if the Requesting Party is the Borrower, the Master Servicer (with respect to the
Whole Loan if it is a Performing Loan) or the Special Servicer (with respect to the Whole Loan if it is a Specially Serviced Loan
or an REO Loan), as applicable); provided that the Requesting Party (or the Master Servicer or the Special Servicer, as
applicable) shall in any event review the conditions required under the Loan Documents with respect to such defeasance or release
and confirm to its satisfaction in accordance with the Servicing Standard that such conditions (other than the requirement for
a No Downgrade Confirmation) have been satisfied).

 

(c)          For all other matters
or actions not specifically discussed in Section 3.30(a) above, the applicable Requesting Party shall deliver No Downgrade
Confirmation from each Rating Agency.

 

Section
3.31          Certain Co-Lender Matters Relating to the Whole Loan.
(a) Except for those duties to be performed by, and notices to be furnished by, the Trustee under this Agreement, the Master
Servicer or the Special Servicer, as applicable, shall perform such duties and furnish such notices, reports and information
on behalf of the Trust Fund as may be the

 

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obligation of the Trust, or the obligation of the master servicer or the special
servicer, as applicable, following securitization, under the Co-Lender Agreement.

 

(b)          The Master Servicer shall
maintain a register (the “Companion Loan Noteholder Register”) on which the Master Servicer shall record the
names and addresses of the Companion Loan Holders and wire transfer instructions for the Companion Loan Holders from time to time,
to the extent such information is provided in writing to the Master Servicer by the related Companion Loan Holder. Each Companion
Loan Holder has agreed to inform the Master Servicer of its name, address, taxpayer identification number and wiring instructions
(to the extent the foregoing information is not already contained in the Co-Lender Agreement) and of any transfer thereof (together
with any instruments of transfer). The name and address of the initial Companion Loan Holders as of the Closing Date is set forth
on Schedule III hereto. The Master Servicer shall be entitled to conclusively rely upon the information delivered by the
Companion Loan Holders including the identity of the controlling class representative in any related Other Securitization Trust
until it receives notice of transfer or of any change in information.

 

In no event shall the Master
Servicer be obligated to pay any party the amounts payable to a Companion Loan Holder hereunder other than the Person listed as
the applicable Companion Loan Holder on the Companion Loan Holder Register. In the event that a Companion Loan Holder transfers
a Companion Loan without notice to the Master Servicer, the Master Servicer shall have no liability whatsoever for any misdirected
payment on such Companion Loan and shall have no obligation to recover and redirect such payment.

 

The Master Servicer shall promptly
provide the names and addresses of the Companion Loan Holders, including the identity of the controlling class representative in
any related Other Securitization Trust, to any party hereto, the Companion Holder or any successor thereto upon written request,
and any such party or successor may, without further investigation, conclusively rely upon such information. The Master Servicer
shall have no liability to any Person for the provision of any such names and addresses.

 

(c)          The Directing Holder shall
not owe any fiduciary duty to the Trustee, any Master Servicer, any Special Servicer, any Certificateholder (including the Directing
Holder, if applicable) or the Companion Loan Holders, as applicable. The Directing Holder will not have any liability to the Certificateholders
(including the Directing Holder, if applicable) or the Companion Loan Holders, as applicable, for any action taken, or for refraining
from the taking of any action or the giving of any consent, pursuant to this Agreement, or for errors in judgment.

 

(d)          The Directing Holder shall
be entitled to exercise the consent rights, cure rights and purchase rights, as applicable, allocated to the Directing Holder to
the extent set forth in the Co-Lender Agreement, in accordance with the terms of the Co-Lender Agreement and this Agreement.

 

(e)          The Special Servicer (with
respect to a Companion Loan if such Companion Loan is a Specially Serviced Loan or has become a Serviced REO Loan) or the Master
Servicer (otherwise), as applicable, shall take all actions relating to the servicing and/or administration of, and (subject to
Section 3.13 and Section 3.17 of this Agreement and the following paragraph) the preparation and delivery of reports
and other information with respect

 

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to, the Whole Loan or any related REO Property required to be performed by the holder of the
Trust Loan or contemplated to be performed by a servicer, in any case pursuant to and as required by the Co-Lender Agreement and
any Co-Lender Agreement not existing on the Closing Date that is provided to the Master Servicer or Special Servicer, as applicable.
In addition notwithstanding anything herein to the contrary, the following considerations shall apply with respect to the servicing
of the Companion Loans:

 

 (i)         none of
the Master Servicer, the Special Servicer or the Trustee shall make any P&I Advance with respect to the Companion Loans; and

 

(ii)         the Master
Servicer and the Special Servicer shall each consult with and obtain the consent of the Companion Loan Holders to the extent required
by the Co-Lender Agreement.

 

The Master Servicer or Special
Servicer, as applicable, shall timely provide to the Companion Loan Holders any reports or notices required to be delivered to
the Companion Loan Holders pursuant to the Co-Lender Agreement (provided, that to the extent that a Companion Loan has been included
in an Other Securitization Trust, such reports or notices required to be delivered by the Special Servicer to the Companion Loan
Holders shall be delivered to the controlling class representative for such Other Securitization Trust to the extent that the Special
Servicer receives written notice of the identity of the controlling class representative for such Other Securitization Trust),
and the Special Servicer shall reasonably cooperate with the Master Servicer and the Master Servicer shall reasonably cooperate
with the Special Servicer in preparing/delivering any such report or notice with respect to special servicing matters.

 

If a Companion Loan or any portion
thereof or any particular payments thereon are included in a REMIC or a “grantor trust”, then neither the Master Servicer
nor the Special Servicer shall knowingly take any action that would result in the equivalent of an Adverse REMIC Event with respect
to such REMIC or adversely affect the tax status of such grantor trust as a grantor trust.

 

The parties hereto acknowledge
that the Companion Loan Holders shall not (1) owe any fiduciary duty to the Trustee, the Certificate Administrator, the Master
Servicer, the Special Servicer or any Certificateholder or (2) have any liability to the Trustee or the Certificateholders for
any action taken, or for refraining from the taking of any action pursuant to the Co-Lender Agreement or the giving of any consent
or for errors in judgment. Each Certificateholder, by its acceptance of a Certificate, shall be deemed to have confirmed its understanding
that the Companion Loan Holders (i) may take or refrain from taking actions that favor its interests or the interests of its Affiliates
over the Certificateholders, (ii) may have special relationships and interests that conflict with the interests of the Certificateholders
and shall be deemed to have agreed to take no action against the Companion Loan Holders or any of their respective officers, directors,
employees, principals or agents as a result of such special relationships or conflicts, and (iii) shall not be liable by reason
of its having acted or refrained from acting solely in its interest or in the interest of its Affiliates.

 

The parties hereto recognize
and acknowledge the respective rights of the Companion Loan Holders under the Co-Lender Agreement. Each of the rights of the Companion
Loan Holders under or contemplated by this Section 3.31(e) may be exercisable by a designee

 

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thereof on its behalf; provided
that the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee are provided with written notice
by the Companion Loan Holders of such designation (upon which such party may conclusively rely) and the contact details of the
designee.

 

Notwithstanding anything herein
or in the Co-Lender Agreement to the contrary, no direction or objection by the Companion Loan Holders may require or cause the
Master Servicer or the Special Servicer, as applicable, to violate any provision of any Loan Agreement, applicable law, this Agreement,
the Co-Lender Agreement or the REMIC Provisions, including without limitation the Master Servicer’s or Special Servicer’s
obligation to act in accordance with the Servicing Standard, or expose the Master Servicer, the Special Servicer, the Depositor,
the Trust Loan Sellers, the Paying Agent, the Trust Fund, the Certificate Administrator or the Trustee to liability, or materially
expand the scope of the Master Servicer’s or Special Servicer’s responsibilities hereunder.

 

Any reference to servicing of
the Trust Loan or the Whole Loan in accordance with any of the related Loan Documents (including the related Note and Mortgage)
shall also mean, in the case of the Companion Loans, in accordance with the Co-Lender Agreement.

 

To the extent not otherwise expressly
included herein, any provisions required to be included herein pursuant to the Co-Lender Agreement are deemed incorporated herein
by reference, and the parties hereto shall comply with those provisions as if set forth herein in full.

 

For purposes of exercising any
rights that the directing holder of the Trust Loan Note for any Trust Loan may have under the Co-Lender Agreement, the Directing
Holder shall be the designee of the Trust, as such noteholder, and the Trustee shall, upon request, take such actions as may be
necessary under the Co-Lender Agreement to effect such designation. The Certificate Administrator shall provide notice of the identity
of the Directing Holder (to the extent the Certificate Administrator has received notice of a change in the identity of the Directing
Holder), to the other parties to the Co-Lender Agreement, to the extent the identity and contact information of such parties to
such Co-Lender Agreement are actually known to the Certificate Administrator.

 

(f)          With respect to the Trust
Loan, the Master Servicer or the Special Servicer, as applicable, shall provide each Companion Loan Holder within the same time
frame and to the same extent it is required to provide such information and materials to the Certificateholders or the Directing
Holder, as applicable, hereunder with (1) copies of each financial statement received by the Master Servicer pursuant to the terms
of the related Loan Documents, (2) copies of any notice of default sent to the Borrower and (3) subject to the terms of the Loan
Documents, copies of any other documents or information relating to the Trust Loan (including, without limitation, property inspection
reports, loan servicing statements, Borrower requests and asset status reports) that the Master Servicer delivers to the related
Directing Holder and copies of any other notice, information or report that it is required to provide to the Directing Holder pursuant
to this Agreement with respect to any Major Decision or with respect to any “major decisions” or “major actions”
as set forth in the related Co-Lender Agreement or the implementation of any recommended actions outlined in an Asset Status Report
relating to the Trust Loan. Any copies to be furnished by the Master Servicer or the Special Servicer may be furnished by hard
copy or electronic means.

 

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(g)          With respect to the Whole
Loan, if any Companion Loan becomes the subject of an “asset review” (or such analogous term defined in the related
Other Pooling and Servicing Agreement) pursuant to the related Other Pooling and Servicing Agreement, the Master Servicer, the
Special Servicer, the Trustee, the Certificate Administrator and the Custodian shall reasonably cooperate with the Other Asset
Representations Reviewer or any other party to the Other Pooling and Servicing Agreement in connection with such asset review by
providing the Other Asset Representations Reviewer or such other requesting party with copies of any documents reasonably requested
by the Other Asset Representations Reviewer or such other requesting party, but only to the extent that (i) such asset representations
reviewer or such other requesting party has not been able to obtain such documents from the related mortgage loan seller or any
party to the related Other Pooling and Servicing Agreement, and (ii) such documents are in the possession of the Master Servicer,
the Special Servicer, the Trustee, the Certificate Administrator or the Custodian, as the case may be. For the avoidance of doubt,
none of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator or the Custodian (i) shall have any
further obligations with respect to any asset review nor shall any such party be bound by the results of any asset review, or (ii)
shall be obligated to provide such documents if providing such documents, in its reasonable determination, would be a violation
of this Agreement or any related Intercreditor Agreement.

 

Section
3.32          Delivery of Excluded Information to the Certificate
Administrator. Any Excluded Information that the Master Servicer or the Special Servicer identifies and delivers to the
Certificate Administrator for posting to the Certificate Administrator’s Website shall be delivered to the Certificate
Administrator via e-mail (or such other electronic means as is mutually acceptable to the parties) in one or more separate
files labeled “Excluded Information” to uscmbs.info@db.com. For the avoidance of doubt, any information that is
not appropriately labeled and delivered in accordance with this Section 3.32 shall not be separately posted as
Excluded Information on the Certificate Administrator’s Website, and any information appropriately labeled and
delivered to the Certificate Administrator pursuant to this Section shall be posted on the Certificate
Administrator’s Website under the “Excluded Information” section, as provided under Section 4.02(b).
When so posted, Excluded Controlling Class Holders shall be prohibited from the access of Excluded Information on the
Certificate Administrator’s Website. Neither of the Master Servicer or the Special Servicer shall have any obligations
to separately label and deliver any Excluded Information in accordance with this Section 3.32 until such party has
received notice in the form of Exhibit L-1E to this Agreement.

 

ARTICLE
IV

DISTRIBUTIONS TO CERTIFICATEHOLDERS

 

Section
4.01          Distributions. (a) On each Distribution Date, amounts
held in the Lower-Tier Distribution Account shall be withdrawn (to the extent of the Available Funds, including or reduced
by, to the extent required by Section 3.05(e) of this Agreement, the Withheld Amounts and Prepayment Charges) in the case of
all Classes of Lower-Tier Regular Interests (such amount, the “Lower-Tier Distribution Amount”). Each
Class of Lower-Tier Regular Interests shall be deemed to have received interest at its related Pass-Through Rate on its
Lower-Tier Principal Balance outstanding immediately prior to the related Distribution Date in accordance with the next
sentence and distributions in respect of principal in an amount equal to

 

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the amount of principal actually distributable to
its respective Corresponding Certificates as provided in Section 4.01(b) of this Agreement. On each Distribution Date,
distributions of interest made in respect of any Class of Regular Certificates on each Distribution Date pursuant to Section
4.01(b) or Section 9.01 of this Agreement shall be deemed to have first been distributed from the Lower-Tier REMIC
to the Upper-Tier REMIC in respect of its Corresponding Lower-Tier Regular Interest set forth in the Preliminary Statement to
this Agreement; provided that the Class LA Interest shall be deemed to have received distributions of interest in an
amount equal to the Interest Distribution Amount and Class Interest Shortfalls in respect of the Class X-A Certificates to
the extent actually distributable thereon as provided in Section 4.01(b) of this Agreement.

 

All distributions of reimbursements
of Realized Losses made in respect of any Class of Principal Balance Certificates on each Distribution Date pursuant to Section
4.01(b) of this Agreement shall be deemed to have first been distributed from the Lower-Tier REMIC to the Upper-Tier REMIC
in a manner such that the Lower-Tier Principal Balance of each of the Class LA, Class LB, Class LC and Class LD Interests equals
the Certificate Balance of the Corresponding Certificates.

 

The Certificate Administrator
shall be deemed to deposit the Lower-Tier Distribution Amount and Prepayment Charges distributable to the Lower-Tier Regular Interests
pursuant to Section 4.01(b) into the Upper-Tier Distribution Account. Any amount in respect of the Trust Loan that remains
in the Lower-Tier Distribution Account on each Distribution Date after the deemed distribution described in the preceding sentence
shall be distributed to the Holders of the Class LR Certificates (but only to the extent of such amount for such Distribution Date
remaining in the Lower-Tier Distribution Account, if any).

 

(b)          On each Distribution Date,
the Certificate Administrator shall withdraw from the Upper-Tier Distribution Account the amounts deposited in the Upper-Tier Distribution
Account in respect of such Distribution Date pursuant Section 4.01(a) of this Agreement, and distribute such amount to the
Holders of the Regular Certificates in the amounts and in the order of priority set forth below:

 

(i)          First,
to the Class A and Class X-A Certificates, in respect of interest, up to an amount equal to, and pro rata in accordance
with, the respective Interest Distribution Amounts for such Classes;

 

(ii)         Second,
to the Class A and Class X-A Certificates, in respect of interest, up to an amount equal to, and pro rata in accordance
with, the respective Class Interest Shortfalls for such Classes;

 

(iii)        Third,
to the Class A Certificates, in reduction of the Certificate Balance thereof, an amount up to the Principal Distribution Amount
for such Distribution Date, until the Certificate Balance of such Class is reduced to zero;

 

(iv)        Fourth,
to the Class A Certificates, for the unreimbursed amounts of Realized Losses, if any, up to an amount equal to the aggregate of
such unreimbursed Realized Losses previously allocated to such Class;

 

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(v)        Fifth,
to the Class B Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount of such Class;

 

(vi)        Sixth,
to the Class B Certificates, in respect of interest, up to an amount equal to the Class Interest Shortfall for such Class;

 

(vii)       Seventh,
to the Class B Certificates, in reduction of the Certificate Balance thereof, an amount up to the Principal Distribution Amount
less the portion of the Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance
of such Class is reduced to zero;

 

(viii)      Eighth,
to the Class B Certificates, for the unreimbursed amounts of Realized Losses, if any, up to an amount equal to the aggregate of
such unreimbursed Realized Losses previously allocated to such Class;

 

(ix)        Ninth,
to the Class C Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount of such Class;

 

(x)         Tenth,
to the Class C Certificates, in respect of interest, up to an amount equal to the Class Interest Shortfall for such Class;

 

(xi)        Eleventh,
to the Class C Certificates, in reduction of the Certificate Balance thereof, an amount up to the Principal Distribution Amount
less the portion of the Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance
of such Class is reduced to zero;

 

(xii)       Twelfth,
to the Class C Certificates, for the unreimbursed amounts of Realized Losses, if any, up to an amount equal to the aggregate of
such unreimbursed Realized Losses previously allocated to such Class;

 

(xiii)      Thirteenth,
to the Class D Certificates, in respect of interest, up to an amount equal to the Interest Distribution Amount of such Class;

 

(xiv)      Fourteenth,
to the Class D Certificates, in respect of interest, up to an amount equal to the Class Interest Shortfall for such Class;

 

(xv)       Fifteenth,
to the Class D Certificates, in reduction of the Certificate Balance thereof, an amount up to the Principal Distribution Amount
less the portion of the Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance
of such Class is reduced to zero;

 

(xvi)      Sixteenth,
to the Class D Certificates, for the unreimbursed amounts of Realized Losses, if any, up to an amount equal to the aggregate of
such unreimbursed Realized Losses previously allocated to such Class; and

 

(xvii)     Seventeenth,
when the Certificate Balances of all Classes of Principal Balance Certificates have been reduced to zero and after payment in full
of all unpaid expenses of the Trust, to the Class R and Class LR Certificates.

 

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All references to “pro
rata” in the preceding clauses with respect to interest and Class Interest Shortfalls shall mean pro rata based
on the amount distributable pursuant to such clauses, with respect to distribution of principal other than for unreimbursed Realized
Losses shall mean pro rata based on Certificate Balance and with respect to distributions with respect to unreimbursed Realized
Losses shall mean pro rata based on the amount of unreimbursed Realized Losses previously allocated to the applicable Classes.

 

(c)          [Reserved].

 

(d)          On each Distribution Date,
following the distribution from the Lower-Tier Distribution Account in respect of the Lower-Tier Regular Interests pursuant to
Section 4.01(a) of this Agreement, the Certificate Administrator shall make distributions of any Prepayment Charges received
in the related Collection Period from amounts deposited in the Upper-Tier Distribution Account pursuant to Section 3.05(c)
of this Agreement, as follows:

 

Prepayment Charges received with
respect to the Trust Loan shall be distributed to the Class A, Class B, Class C and Class D Certificates, in an amount equal to
the product of (a) a fraction, not greater than one, the numerator of which is the amount distributed as principal to such Class
on such Distribution Date, and the denominator of which is the total amount distributed as principal to the Class A, Class B, Class
C and Class D Certificates on such Distribution Date, (b) the Base Interest Fraction for the related Principal Prepayment and such
Class of Certificates and (c) the aggregate amount of the Prepayment Charges collected on such Principal Prepayment during the
related Collection Period.

 

Any Prepayment Charges collected
during the related Collection Period remaining after such distributions described in the preceding paragraph will be allocated
to the Class X-A Certificates.

 

(e)          On each Distribution Date,
immediately following the distributions to be made on such date pursuant to Section 4.01(b), the Certificate Administrator
shall calculate the amount, if any, of Realized Losses. Any allocation of Realized Losses to a Class of Principal Balance Certificates
shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Realized Losses allocated to a Class
of Principal Balance Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage
Interests evidenced thereby. The allocation of Realized Losses shall constitute an allocation of losses and other shortfalls experienced
by the Trust Fund. Reimbursement of previously allocated Realized Losses will not constitute distributions of principal for any
purpose and will not result in an additional reduction in the Certificate Balance of the Class in respect of which any such reimbursement
is made.

 

The Certificate Balances of each
Class of Principal Balance Certificates will be reduced without distribution on any Distribution Date as a write-off to the extent
of any Realized Losses allocated to such Class with respect to such date. Any such write-offs shall be applied to the Classes of
Principal Balance Certificates in the following order, in each case until the Certificate Balance of such Class is reduced to zero:
first, to the Class D Certificates; second, to the Class C Certificates; third, to the Class B Certificates;
and finally, to the Class A Certificates based upon their respective Certificate Balances. Any amounts recovered in respect
of amounts previously written off as Realized Losses shall be distributed to the Classes of Principal Balance

 

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Certificates described
above in reverse order of allocation of Realized Losses thereto in accordance with Section 4.01(b) of this Agreement. Additional
Trust Fund Expenses and shortfalls in Available Funds due to extraordinary expenses of the Trust Fund (including indemnification
expenses), a reduction in the Trust Loan Rate on the Trust Loan by a bankruptcy court pursuant to a plan of reorganization or pursuant
to any of its equitable powers, or otherwise, shall be treated as and allocated in the same manner as Realized Losses.

 

With respect to any Distribution
Date, any Realized Losses allocated pursuant to Section 3.06 of this Agreement with respect to such Distribution Date shall
reduce the Lower-Tier Principal Balances of the Lower-Tier Regular Interests as a write-off and shall be allocated among the Lower-Tier
Regular Interests in the same priority as the Class of Corresponding Certificates.

 

(f)          All amounts distributable
to a Class of Certificates pursuant to this Section 4.01 on each Distribution Date shall be allocated pro rata among
the outstanding Certificates in each such Class based on their respective Percentage Interests. Such distributions shall be made
on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire
transfer of immediately available funds to the account of such Holder at a bank or other entity located in the United States and
having appropriate facilities therefor provided that such Holder shall have provided the Paying Agent with wire instructions
in writing at least five (5) Business Days prior to the related Record Date, or, otherwise, by check mailed by first-class mail
to the address set forth therefor in the Certificate Register. The final distribution on each Certificate shall be made in like
manner, but only upon presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent
(which may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of
such final distribution.

 

(g)          Except as otherwise provided
in Section 9.01 with respect to an Anticipated Final Termination Date, the Certificate Administrator shall, as soon as reasonably
practicable within the month preceding the month in which the final distribution with respect to any Class of Certificates is expected
to be made, mail to each Holder of such Class of Certificates on such date a notice to the effect that:

 

(A)          the Certificate
Administrator reasonably expects based upon information previously provided to it that the final distribution with respect to such
Class of Certificates will be made on such Distribution Date, but only upon presentation and surrender of such Certificates at
the office of the Certificate Administrator therein specified, and

 

(B)          if such final
distribution is made on such Distribution Date, no interest shall accrue on such Certificates from and after such Distribution
Date;

 

provided, however, that the Class
R and Class LR Certificates shall remain outstanding until there is no other Class of Certificates or Lower-Tier Regular Interests
outstanding.

 

Any funds not distributed to
any Holder or Holders of such Classes of Certificates on such Distribution Date because of the failure of such Holder or Holders
to tender their Certificates shall, on such date, be set aside and held in trust for the benefit of the appropriate

 

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non-tendering
Holder or Holders. If any Certificates as to which notice has been given pursuant to this Section 4.01(g) shall not have
been surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator shall
mail a second notice to the remaining non-tendering Holders to surrender their Certificates for cancellation to receive the final
distribution with respect thereto. If within one year after the second notice not all of such Certificates shall have been surrendered
for cancellation, the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining
non-tendering Holders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of
contacting such Holders shall be paid out of such funds. If within two years after the second notice any such Certificates shall
not have been surrendered for cancellation, the Paying Agent shall distribute to the Certificate Administrator all amounts distributable
to the Holders thereof, and the Certificate Administrator shall thereafter hold such amounts for the benefit of such Holders until
the earlier of (i) its termination as Certificate Administrator hereunder and the transfer of such amounts to a successor Certificate
Administrator and (ii) the termination of the Trust Fund and distribution of such amounts to the Class R Certificateholders. No
interest shall accrue or be payable to any Holder on any amount held in trust hereunder or by the Certificate Administrator as
a result of such Holder’s failure to surrender its Certificate(s) for final payment thereof in accordance with this Section
4.01(g). Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments and all income
and gain realized from investment of such funds shall accrue for its benefit.

 

(h)          Shortfalls in Available
Funds resulting from Excess Prepayment Interest Shortfalls shall be allocated to, and Master Servicer Prepayment Interest Shortfall
Amounts shall be deemed distributed to, each Class of Regular Certificates and correspondingly to the respective Class of Corresponding
Lower-Tier Regular Interests, pro rata, based upon the Interest Distribution Amount distributable to each such Class of
Certificates prior to reduction by such Excess Prepayment Interest Shortfalls. Master Servicer Prepayment Interest Shortfall Amounts
shall be deposited by the Master Servicer into the Collection Account on or prior to the Servicer Remittance Date.

 

Section 4.02
 Statements to Certificateholders; Reports by Certificate Administrator; Other Information Available to the Holders
and Others. (a) On each Distribution Date, the Certificate Administrator shall make available on the Certificate
Administrator’s Website to any Privileged Person a statement (substantially in the form set forth as Exhibit K
to this Agreement and based in part on the information set forth in (i) the CREFC® Investor Reporting Package
(CREFC® IRP) prepared by the Master Servicer (other than the CREFC® Special Servicer Loan File)
and the other reports prepared by the Master Servicer and Special Servicer relating to such Distribution Date, including the
CREFC® Special Servicer Loan File, upon which information the Certificate Administrator may conclusively rely,
in accordance with CREFC® guidelines and (ii) the CREFC® Reconciliation of Funds Template
prepared by the Certificate Administrator) as to distributions made on such Distribution Date (each, a “Distribution
Date Statement”) setting forth (with respect to each Class of Certificates) the following information:

 

(i)          the Record
Date, Interest Accrual Period, and Determination Date for such Distribution Date;

 

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(ii)         the aggregate
amount of the distribution to be made on such Distribution Date to the Holders of each Class of Regular Certificates;

 

(iii)    
   the aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class
of Regular Certificates allocable to (A) the Interest Distribution Amount and/or (B) Class Interest Shortfalls;

 

(iv)        the aggregate
amount of Advances made in respect of the Distribution Date and the amount of interest paid on Advances since the prior Distribution
Date (including, to the extent material, the general use of funds advanced and general source of funds for reimbursements);

 

(v)         the aggregate
amount of compensation paid to the Trustee and the Certificate Administrator and servicing compensation paid to the Master Servicer
and the Special Servicer for the related Determination Date, CREFC® and any other fees or expenses accrued and paid
from the Trust Fund;

 

(vi)        the Stated
Principal Balance of the Trust Loan or REO Loan outstanding immediately before and immediately after the Distribution Date;

 

(vii)       the
remaining term to maturity and the mortgage rate of the Trust Loan as of the related Determination Date;

 

(viii)      whether
the Trust Loan is (A) delinquent 30-59 days, (B) delinquent 60-89 days, (C) delinquent 90 days or more or (D) current but is a
Specially Serviced Loan or in foreclosure (but not REO Loan);

 

(ix)        the Available
Funds for such Distribution Date, and any other cash flows received on the Trust Loan and applied to pay fees and expenses (including
the components of the Available Funds, or such other cash flows);

 

(x)         the amount
of the distribution on the Distribution Date to any Class of Certificates allocable to Prepayment Charges;

 

(xi)        the accrued
Interest Distribution Amount in respect of each Class of Regular Certificates for such Distribution Date;

 

(xii)       the
Pass-Through Rate for each Class of Regular Certificates for the Distribution Date and the next succeeding Distribution Date;

 

(xiii)      (A)
the Principal Distribution Amount for the Distribution Date and (B) the portion of the Principal Distribution Amount distributed
to each Class of Principal Balance Certificates;

 

(xiv)      the
aggregate Certificate Balance or aggregate Notional Balance, as the case may be, of each Class of Certificates (other than the
Residual Certificates), before and after giving effect to the distributions made on such Distribution Date, separately identifying
any reduction in the aggregate Certificate Balance (or, if applicable, the

 

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aggregate Notional Balance) of each such Class due to
Realized Losses and/or Additional Trust Fund Expenses;

 

(xv)       the fraction,
expressed as a decimal carried to at least eight places, the numerator of which is the then related Certificate Balance, and the
denominator of which is the related initial aggregate Certificate Balance, for each class of Regular Certificates immediately following
the Distribution Date;

 

(xvi)      the amount
of any Appraisal Reduction Amount and Collateral Deficiency Amount allocated during the related Collection Period and the total
Appraisal Reduction Amount and Collateral Deficiency Amount as of the Distribution Date;

 

(xvii)     a statement
as to whether the Trust Loan was modified, extended or waived during the related Collection Period (including a description of
any material modifications, extensions or waivers to Trust Loan terms, fees, penalties or payments during the Collection Period
or that have cumulatively become material over time);

 

(xviii)    the
amount of any remaining unpaid Class Interest Shortfalls for each Class of Regular Certificates as of the Distribution Date;

 

(xix)      a statement
as to whether the Trust Loan was the subject of a Principal Prepayment (other than Liquidation Proceeds and Insurance Proceeds)
during the related Collection Period and the amount of Principal Prepayment occurring, together with the aggregate amount of Principal
Prepayments made during the related Collection Period;

 

(xx)       a statement
as to whether the Trust Loan was defeased during the related Collection Period;

 

(xxi)      the
amount of the distribution to the holders of each Class of Certificates on the Distribution Date attributable to reimbursement
of Realized Losses;

 

(xxii)     if
a repurchase of any portion of the Trust Loan was made by the Trust Loan Sellers or the Trust Loan was otherwise liquidated or
disposed of during the related Collection Period, the amount of proceeds of any repurchase of the Trust Loan, Liquidation Proceeds
and/or other amounts, if any, received thereon during the related Collection Period and the portion thereof included in the Available
Funds for such Distribution Date;

 

(xxiii)     the
amount on deposit in the Interest Reserve Account before and after giving effect to the distribution made on such Distribution
Date;

 

(xxiv)     the
then-current credit support levels for each Class of Principal Balance Certificates;

 

(xxv)      the
original and then-current ratings of each Class of Certificates;

 

(xxvi)  
  if the Mortgaged Property becomes an REO Property during the preceding calendar month, the latest Debt Service
Coverage Ratio and the current Stated Principal Balance;

 

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(xxvii)   if
the Mortgaged Property became REO Property during the preceding calendar month, the value of any REO Property included in the Trust
Fund at the close of business on the Determination Date based on the most recent appraisal or valuation;

 

(xxviii)  with
respect to an REO Property sold or otherwise disposed of during the related Collection Period and for which a Final Recovery Determination
has been made, (A) the Realized Loss attributable to the Trust Loan, (B) the amount of sale proceeds and other amounts, if any,
received in respect of the REO Property during the related Collection Period and the portion thereof included in the Available
Funds for such Distribution Date and (C) the date of the Final Recovery Determination;

 

(xxix)     the
amount of the distribution on the Distribution Date to the holders of the Residual Certificates;

 

(xxx)      material
breaches of Trust Loan representations and warranties or any covenants of which the Trustee, the Certificate Administrator, the
Master Servicer or the Special Servicer has received written notice;

 

(xxxi)     the
amount of Realized Losses, Additional Trust Fund Expenses and Class Interest Shortfalls, if any, incurred with respect to the Trust
Loan during the related Collection Period and in the aggregate for all prior Collection Periods (except to the extent reimbursed
or paid);

 

(xxxii) 
  an itemized listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its
Affiliates during the related Collection Period;

 

(xxxiii)   identity
of the Controlling Class; and

 

(xxxiv)   the
amount of any CREFC® License Fee payable on such Distribution Date.

 

In the case of information furnished
pursuant to sub-clauses (ii), (iii), (iv), (vi), (xi), (xiii), (xix) and (xxi) above, the amounts
shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per $1,000 of original
Certificate Balance or Notional Balance, as the case may be.

 

On each Distribution Date, the
Certificate Administrator shall make available to each Holder of a Class R or Class LR Certificate a copy of the reports made available
to the other Certificateholders on such Distribution Date and a statement setting forth the amounts, if any, actually distributed
with respect to the Class R or Class LR Certificates on such Distribution Date. Such obligation of the Certificate Administrator
shall be deemed to have been satisfied to the extent that it provided substantially comparable information pursuant to any requirements
of the Code as from time to time in force.

 

Within a reasonable period of
time after the end of each calendar year, the Certificate Administrator shall furnish, upon request, to each Person who at any
time during the calendar year was a Certificateholder of record, a report summarizing on an annual basis (if appropriate) the items
provided to Certificateholders pursuant to clauses (i) and (ii) above as to

 

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the applicable Class, aggregated for
such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information
as may be required to enable such Certificateholders to prepare their federal income tax returns. Such information shall include
the amount of original issue discount accrued on each Class of Certificates held by Persons other than Holders exempted from the
reporting requirements and information regarding the expenses of the Trust Fund. Such requirement shall be deemed to be satisfied
to the extent such information is provided pursuant to applicable requirements of the Code from time to time in force.

 

On each Distribution Date, the
Certificate Administrator shall deliver the related Distribution Date Statement to the Depositor in electronic format at dbinvestor@list.db.com
(or to such other address as the Depositor shall specify by written notice to the Certificate Administrator).

 

(b)          The Certificate Administrator
shall make available via the Certificate Administrator’s Website, to any Privileged Person, the following items, in each
case to the extent received by the Certificate Administrator:

 

(i)       the following
“deal documents”:

 

(A)          the Offering
Circular;

 

(B)  
        this Agreement, each Sub-Servicing Agreement delivered to the Certificate
Administrator from and after the Closing Date (if any), the Trust Loan Purchase Agreements and any amendments and exhibits
hereto or thereto; and

 

(C)     
     the CREFC® Loan Setup File prepared by the Master Servicer and delivered to the
Certificate Administrator;

 

(ii)  
   the following “periodic reports”:

 

(A)          the Distribution
Date Statements; and

 

(B)        
  the supplemental reports and the CREFC® data files (other than the CREFC® Loan
Setup File) identified as such in the definition of “CREFC® Investor Reporting Package
(CREFC® IRP)”, to the extent it has received or prepared such report or file;

 

(iii)     the
following “additional documents”:

 

(A)          the summary
of any Asset Status Report delivered to the Certificate Administrator in electronic format; and

 

(B)         
 any other Third Party Reports (or updates thereto) delivered to the Certificate Administrator in electronic format;

 

(iv)    the following
“special notices”:

 

(A)          all Special
Notices;

 

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(B)        
  notice of any waiver, modification or amendment of any term of the Trust Loan;

 

(C)        
  notice of final payment on the Certificates;

 

(D)          all notices
of the occurrence of any Servicer Termination Events received by the Certificate Administrator;

 

(E)         
 notice of termination or resignation of the Master Servicer, the Special Servicer or the Trustee (and appointments of
successors to the Master Servicer, the Special Servicer or the Trustee);

 

(F)        
  any and all Officer’s Certificates and other evidence delivered to the Certificate Administrator supporting
the Master Servicer’s, the Trustee’s or the Special Servicer’s, as the case may be, determination that any
Advance was (or, if made, would be) a Nonrecoverable Advance;

 

(G)        
  any notice of the termination of the Trust;

 

(H)          any notice of
the termination of a Subordinate Control Period;

 

(I)        
   any notice of the termination of a Subordinate Consultation Period;

 

(J)            the annual assessments
as to compliance (in the case of the Master Servicer and the Special Servicer) and the Officer’s Certificates delivered by
the Master Servicer and the Special Servicer to the Certificate Administrator since the Closing Date pursuant to Section 11.08
of this Agreement; and

 

(K)           the annual independent
public accountants’ servicing report caused to be delivered by the Master Servicer and the Special Servicer to the Certificate
Administrator since the Closing Date pursuant to Section 3.27 of this Agreement;

 

(v)     the Investor
Q&A Forum; and

 

(vi)    solely
to Certificateholders and Beneficial Owners, the Investor Registry.

 

The Certificate Administrator
may require a receipt of any of the information set forth above to execute a confidentiality agreement (which may be in the form
of a web page “click through”.)

 

Notwithstanding the foregoing,
all Excluded Information shall be made available under a separate tab or heading designated “Excluded Information”
(and not under any of the tabs or headings described in items (i) through (vi) above) and made available to Privileged Persons
other than Excluded Controlling Class Holders.

 

Any Person that is a Borrower
Related Party shall only be entitled to access (a) the Distribution Date Statements, and the following items to the extent that
they are made available to the general public: this Agreement, the Trust Loan Purchase Agreements and any SEC filings on the Certificate
Administrator’s Website, and (b) in the case of the Directing

 

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Holder or a Controlling Class Certificateholder, if any such
Person becomes an Excluded Controlling Class Holder, upon delivery to the Master Servicer, the Special Servicer, the Certificate
Administrator and the Trustee in physical form of an investor certification substantially in the forms of Exhibit L-1D and
Exhibit L-1E and upon delivery to the Certificate Administrator in physical form of an investor certification substantially
in the form of Exhibit L-1F, which shall include each of the User ID’s for the Certificate Administrator’s Website
associated with such Excluded Controlling Class Holder, all information (other than Excluded Information) available on the Certificate
Administrator’s Website.

 

In the case of the Directing
Holder or a Controlling Class Certificateholder that is not an Excluded Controlling Class Holder, upon delivery of an investor
certification substantially in the form of Exhibit L-1B hereto, such Directing Holder or Controlling Class Certificateholder
shall be entitled to access all information on the Certificate Administrator’s Website. The Master Servicer, the Special
Servicer, the Certificate Administrator and the Trustee may each rely on (i) an investor certification in the form of Exhibit
L-1B hereto from the Directing Holder or a Controlling Class Certificateholder to the effect that such Person is not an Excluded
Controlling Class Holder and (ii) an investor certification in the form of Exhibit L-1D hereto from the Directing Holder
or a Controlling Class Certificateholder to the effect that such Person is an Excluded Controlling Class Holder. In the event the
Directing Holder or a Controlling Class Certificateholder becomes an Excluded Controlling Class Holder, such party shall promptly
notify each of the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in writing substantially
in the form of Exhibit L-1E that such party is an Excluded Controlling Class Holder and thereafter shall not be entitled
to any Excluded Information made available on the Certificate Administrator’s Website. With respect to any Excluded Information,
each of the Master Servicer and the Special Servicer shall mark or label such information as “Excluded Information”
prior to delivery to the Certificate Administrator, and the Certificate Administrator shall segregate on the Certificate Administrator’s
Website such Excluded Information. Notwithstanding anything herein to the contrary, each of the Master Servicer, the Special Servicer
and the Certificate Administrator shall be entitled to conclusively assume that the Directing Holder and all beneficial owners
of the Certificates of the Controlling Class are not Excluded Controlling Class Holders except to the extent that the Master Servicer,
the Special Servicer or the Certificate Administrator, as applicable, has received such notice from the Directing Holder or a Controlling
Class Certificateholder that it has become an Excluded Controlling Class Holder. None of the Master Servicer, the Special Servicer
or the Certificate Administrator shall be liable for any communication to the Directing Holder or Controlling Class Certificateholder
or disclosure of Excluded Information if the Master Servicer, the Special Servicer or the Certificate Administrator, as applicable,
did not receive prior written notice that the Directing Holder or a Controlling Class Certificateholder is an Excluded Controlling
Class Holder.

 

Each of the Master Servicer,
the Special Servicer and the Certificate Administrator shall be entitled to conclusively rely on (i) any written notice from the
Directing Holder or a Controlling Class Certificateholder that it is not or is no longer an Excluded Controlling Class Holder and
(ii) any certification delivered by the Directing Holder or a Controlling Class Certificateholder, as applicable, substantially
in the form of Exhibit L-1B that such Person is not or is no longer an Excluded Controlling Class Holder. To the extent
the Directing Holder or a Controlling Class Certificateholder receives access pursuant to this

 

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Agreement to any Excluded Information
on the Certificate Administrator’s Website or otherwise receives access to such Excluded Information, such Directing Holder
or Controlling Class Certificateholder shall be deemed to have agreed that it (i) will not directly or indirectly provide any information
to the Borrower or to any Excluded Controlling Class Holder or (A) any employees or personnel of such Directing Holder or Controlling
Class Certificateholder or any Affiliate involved in the management of any investment in the Borrower or the Mortgaged Property
or (B) to its actual knowledge, any non-Affiliate that holds a direct or indirect ownership interest in the Borrower, and (ii)
will maintain sufficient internal controls and appropriate policies and procedures in place in order to comply with the obligations
described in clause (i) above.

 

The Certificate Administrator
makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor.
In addition, the Certificate Administrator may disclaim responsibility for any information distributed by the Certificate Administrator
for which it is not the original source. The Certificate Administrator shall not be responsible for the accuracy or completeness
of any information supplied to it by the Master Servicer or Special Servicer that is included in any reports, statements, materials
or information prepared or provided by the Master Servicer or Special Servicer, as applicable, and the Certificate Administrator
shall be entitled to conclusively rely upon the Master Servicer’s reports and the Special Servicer’s reports without
any duty or obligation to recompute, verify or re-evaluate any of the amounts or other information stated therein. In connection
with providing access to the Certificate Administrator’s Website, the Certificate Administrator may require registration
and the acceptance of a disclaimer. The Certificate Administrator shall not be liable for the dissemination of information in accordance
herewith. Notwithstanding anything herein to the contrary, the Certificate Administrator shall not be liable for any Excluded Information
to the extent such information was included in the Asset Status Report or the Final Asset Status Report delivered to the Certificate
Administrator for posting to the Certificate Administrator’s Website and not properly identified as Excluded Information.

 

The Certificate Administrator
shall have no any liability for access by an Excluded Controlling Class Holder to the Certificate Administrator’s Website
of any information with respect to which such Excluded Controlling Class Holder is prohibited from accessing pursuant to this Agreement
if such Excluded Controlling Class Holder provided an Investor Certification but did not indicate it was a Borrower Related Party.

 

The provisions in this Section
shall not limit the Master Servicer’s ability to make accessible certain information regarding the Trust Loan at a website
maintained by the Master Servicer. In providing access to any information, the Master Servicer shall be entitled to rely on the
certifications delivered to it pursuant to and in accordance with the terms of this Agreement. The Master Servicer shall not be
liable for the dissemination of information in accordance with this Agreement.

 

(c)          The Certificate Administrator
shall make available, only to Privileged Persons, the Investor Q&A Forum. The “Investor Q&A Forum” shall
be a service available on the Certificate Administrator’s Website, where (i) Certificateholders and Beneficial Owners may
(a) submit questions to the Certificate Administrator relating to the Distribution Date Statement and (b) submit questions to the
Master Servicer or the Special Servicer, as applicable, relating to

 

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the reports being made available pursuant to this Section
4.02(c), the Trust Loan or the Mortgaged Property (collectively, “Inquiries”), and (ii) Privileged Persons
may view Inquiries that have been previously submitted and answered, together with the answers thereto. Upon receipt of an Inquiry
for the Master Servicer or the Special Servicer, the Certificate Administrator shall forward the Inquiry to the Master Servicer
or the Special Servicer, as applicable, in each case within a commercially reasonable period following receipt thereof. Following
receipt of an Inquiry, the Certificate Administrator, the Master Servicer or the Special Servicer, as applicable, unless it determines
not to answer such Inquiry as provided below, shall reply to the Inquiry, which reply of the Master Servicer or Special Servicer
shall be sent by email to the Certificate Administrator. The Certificate Administrator shall post (within a commercially reasonable
period following preparation or receipt of such answer, as the case may be) such Inquiry and the related answer to the Investor
Q&A Forum. If the Certificate Administrator, the Master Servicer or the Special Servicer determines, in its respective sole
discretion, that (i) any Inquiry is beyond the scope outlined above, (ii) answering any Inquiry would not be in the best interests
of the Trust and/or the Certificateholders (as a collective whole as if such Certificateholders constituted a single lender), (iii)
answering any Inquiry would be in violation of applicable law, this Agreement or the Loan Documents, (iv) answering any Inquiry
would or is reasonably expected to result in a waiver of an attorney-client privilege or the disclosure of attorney work product,
(v) answering any Inquiry would materially increase the duties of, or result in significant additional cost or expense to, the
Certificate Administrator, the Master Servicer or the Special Servicer, as applicable, or (vi) answering any Inquiry is otherwise
for any reason not advisable to answer, it shall not be required to answer such Inquiry, in which case the Certificate Administrator
shall not post the related inquiry. In addition, no party shall post or otherwise disclose information known to such party to be
Privileged Information as part of its response to any Inquiry without the prior written consent of the Depositor. The Certificate
Administrator shall notify the Person who submitted such Inquiry in the event that the Inquiry will not be answered. The Certificate
Administrator shall not be required to post to the Investor Q&A Forum any Inquiry or answer thereto that the Certificate Administrator
determines, in its sole discretion, is administrative or ministerial in nature. The Special Servicer shall not post or otherwise
disclose direct communications with the Directing Holder as part of its response to any Inquiries; provided that the Certificate
Administrator shall have no obligation to review any inquiry or answer received by it for posting to the Investor Q&A Forum
to determine if such inquiry or answer contains any such direct communication with the Directing Holder, or otherwise to consult
with the party from whom such Inquiry or answer is received to confirm the same, and the Certificate Administrator shall have no
liability in connection with its posting to the Investor Q&A Forum of any Inquiry or answer containing such direct communication.
The Investor Q&A Forum will not reflect questions, answers and other communications between the Certificate Administrator or
any other Person which are not submitted via the Investor Q&A Forum.

 

(d)          The Certificate Administrator
shall make available to any Certificateholder and Beneficial Owner, the Investor Registry. The “Investor Registry”
shall be a voluntary service available on the Certificate Administrator’s Website, where Certificateholders and Beneficial
Owners can register and thereafter obtain contact information with respect to any other Certificateholder or Beneficial Owner that
has so registered. Any person registering to use the Investor Registry will be required to certify that (a) it is a Certificateholder
or a Beneficial Owner and (b) it grants authorization to the Certificate

 

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Administrator to make its name and contact information
available on the Investor Registry for at least 45 days from the date of such certification to other registered Certificateholders
and registered Beneficial Owners. Such Person shall then be asked to enter certain mandatory fields such as the individual’s
name, the company name and email address, as well as certain optional fields such as address, phone, and Class(es) of Certificates
owned. If any Certificateholder or Beneficial Owner notifies the Certificate Administrator that it wishes to be removed from the
Investor Registry (which notice may not be within 45 days of its registration), the Certificate Administrator shall promptly remove
it from the Investor Registry. The Certificate Administrator will not be responsible for verifying or validating any information
submitted on the Investor Registry, or for monitoring or otherwise maintaining the accuracy of any information thereon. The Certificate
Administrator may require acceptance of a waiver and disclaimer for access to the Investor Registry.

 

(e)          The Master Servicer may,
but is not required to, at its sole cost and expense, make any of the reports or files it delivers pursuant to this Agreement available
on the Master Servicer’s Website only with the use of a password, in which case the Master Servicer shall provide such password
to (i) the other parties to this Agreement, who by their acceptance of such password shall be deemed to have agreed not to disclose
such password to any other Person and (ii) each Certificateholder and prospective Certificateholder who requests such password,
provided that any such Certificateholder or prospective Certificateholder, as the case may be, has delivered an Investor
Certification to the Trustee, the Certificate Administrator and the Master Servicer. In connection with providing access to the
Master Servicer’s Website, the Master Servicer may require registration and the acceptance of a disclaimer and otherwise
(subject to the preceding sentence) adopt reasonable rules and procedures, which may include, to the extent the Master Servicer
deems necessary or appropriate, conditioning access on execution of an agreement governing the availability, use and disclosure
of such information, and which may provide indemnification to the Master Servicer for any liability or damage that may arise therefrom.
The Master Servicer shall not be liable for dissemination of this information in accordance with this Agreement; provided
that such information otherwise meets the requirements set forth herein with respect to the form and substance of such information
or reports. The Master Servicer shall be entitled to attach to any report provided pursuant to this subsection, any reasonable
disclaimer with respect to information provided, or any assumptions required to be made by such report. Notwithstanding anything
herein to the contrary, the Master Servicer may, at its sole cost and expense, make available by electronic media, bulletin board
service or Internet website any reports or other information the Master Servicer is required or permitted to provide to the Borrower
with respect to the Borrower’s Whole Loan to the extent such action does not conflict with the terms of this Agreement, the
terms of the Loan Documents or applicable law. If the Master Servicer is required to deliver any statement, report or other information
under any provision of this Agreement, then, the Master Servicer may satisfy such obligation by (x) physically delivering a paper
copy of such statement, report or information, (y) delivering such statement, report or information in a commonly used electronic
format, or (z) making such statement, report or information available on the Master Servicer’s Website, unless this Agreement
expressly specifies a particular method of delivery; provided that all reports required to be delivered to the Certificate
Administrator shall be delivered in accordance with clause (x) or (y) or, upon request, clause (z).

 

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(f)          The Special Servicer shall
from time to time (and, in any event, as may be reasonably required by the Master Servicer) provide the Master Servicer with such
information in its possession regarding a Specially Serviced Loan or an REO Property as may be reasonably necessary for the Master
Servicer to prepare each report and any supplemental information to be provided by the Master Servicer to the Certificate Administrator.
Neither the Certificate Administrator nor the Depositor shall have any obligation to recompute, verify or recalculate the information
provided thereto by the Master Servicer. Unless the Certificate Administrator has actual knowledge that any report or file received
from the Master Servicer contains erroneous information, the Certificate Administrator is authorized to rely thereon in calculating
and making distributions to Certificateholders and allocating Realized Losses to the Certificates in accordance with Section
4.01 of this Agreement and preparing the statements to Certificateholders required by Section 4.02(a) of this Agreement.

 

(g)          As soon as reasonably
practicable, upon the written request of and at the expense of any Certificateholder, the Certificate Administrator shall provide
the requesting Certificateholder with such information that is in the Certificate Administrator’s possession or can reasonably
be obtained by the Certificate Administrator as is requested by such Certificateholder, for purposes of satisfying applicable reporting
requirements under Rule 144A under the Securities Act. Neither the Certificate Registrar nor the Certificate Administrator shall
have any responsibility for the sufficiency under Rule 144A or any other securities laws of any available information so furnished
to any person including any prospective purchaser of a Certificate or any interest therein, nor for the content or accuracy of
any information so furnished which was prepared or delivered to them by another.

 

(h)          The Certificate Administrator
shall make available at its offices, during normal business hours, upon not less than two (2) Business Days prior notice, for review
by any Privileged Person upon resubmission of an Investor Certification, originals or copies of documents relating to the Trust
Loan and any REO Property to the extent in its possession, including, without limitation, the following items (except to the extent
prohibited by applicable law or under any of the Loan Documents):

 

(i)          any and
all notices and reports delivered to the Certificate Administrator with respect to the Mortgaged Property as to which the environmental
testing contemplated by Section 3.10(f) of this Agreement revealed that neither of the conditions set forth in clauses
(i) and (ii) thereof was satisfied;

 

(ii)         the most
recent annual (or more frequent, if available) operating statements, rent rolls (to the extent such rent rolls have been made available
by the Borrower) and/or lease summaries and retail “sales information”, if any, collected by or on behalf of the Master
Servicer or the Special Servicer in respect to the Mortgaged Property;

 

(iii)        the
Mortgage File, including any and all modifications, waivers and amendments of the terms of the Whole Loan entered into by the Master
Servicer and/or the Special Servicer and delivered to the Certificate Administrator; and

 

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(iv)        any other
information that may be necessary, as determined by the Depositor, to satisfy the requirements of subsection (d)(4)(i) of Rule
144A under the Securities Act to the extent in the Certificate Administrator’s possession.

 

Copies of any and all of the
foregoing items will be available from the Certificate Administrator upon request. The Certificate Administrator will be permitted
to require payment by the requesting party (other than a Rating Agency) of a sum sufficient to cover the reasonable costs and expenses
of making such information available and providing any copies thereof. The Certificate Administrator’s obligation under this
Section 4.02(h) to make available any document is subject to the Certificate Administrator’s receipt of such document.

 

The Certificate Administrator
shall not be liable for providing or disseminating information in accordance with the terms of this Agreement.

 

(i)          The Depositor hereby authorizes
the Certificate Administrator to make available to any Financial Market Publisher or such other vendor chosen by the Depositor
that submits to the Certificate Administrator a certification substantially in the form of Exhibit L-3 to this Agreement
or in the form of an electronic certification contained on the Certificate Administrator’s Website, all the Distribution
Date Statements, CREFC® reports and supplemental notices delivered or made available pursuant to this Section
4.02 to Privileged Persons.

 

(j)          Upon request and delivery
by CREFC® of a certification substantially in the form of Exhibit L-4 hereto (which may be a “click-through”
confirmation), the Certificate Administrator shall make available to CREFC®, with respect to any Distribution Date,
the related Distribution Date Statement and CREFC® IRP.

 

Section
4.03          Compliance with Withholding Requirements.
Notwithstanding any other provision of this Agreement, the Paying Agent shall comply with all federal withholding
requirements with respect to payments to Certificateholders and payees of interest or original issue discount that the Paying
Agent reasonably believes are applicable under the Code. The consent of Certificateholders or payees shall not be required
for any such withholding. If the Paying Agent or its agent withholds any amount from interest or original issue
discount payments or advances thereof to any Certificateholder or payee pursuant to federal withholding requirements, the
Paying Agent shall indicate the amount withheld to such Certificateholder. Any amount so withheld shall be treated as having
been distributed to such Certificateholder for all purposes of this Agreement.

 

Section
4.04          REMIC Compliance. (a) The parties intend that the
Lower-Tier REMIC and the Upper-Tier REMIC shall constitute, and that the affairs of each of the Lower-Tier REMIC and the
Upper-Tier REMIC shall be conducted so as to qualify as a “real estate mortgage investment conduit” as defined
in, and in accordance with, the REMIC Provisions at all times any Certificates are outstanding, and the provisions hereof
shall be interpreted consistently with this intention. In furtherance of such intention, the Certificate Administrator shall,
to the extent permitted by applicable law, act as agent, and is hereby appointed to act as agent, of each Trust REMIC and
shall on behalf of each Trust REMIC:

 

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(i)  
        make or cause to be made an election, on behalf of each of the Lower-Tier
REMIC and the Upper-Tier REMIC, to be treated as a REMIC on Form 1066 for its first taxable year, in accordance with the
REMIC Provisions;

 

(ii)          prepare
and timely file, or cause to be prepared and timely filed, and cause the Trustee to sign (and the Trustee shall sign), all required
Tax Returns for the Lower-Tier REMIC and the Upper-Tier REMIC, using a calendar year as the taxable year for each of such REMIC
as required by the REMIC Provisions and other applicable federal, state or local income tax laws;

 

(iii)         prepare
and forward, or cause to be prepared and forwarded, to the Certificateholders and the IRS and applicable state and local tax authorities
all information reports as and when required to be provided to them in accordance with the REMIC Provisions;

 

(iv)         if the
filing or distribution of any documents of an administrative nature not addressed in clauses (i) through (iii) of
this Section 4.04(a) is then required by the REMIC Provisions in order to maintain the status of the Lower-Tier REMIC and
the Upper-Tier REMIC as a REMIC or is otherwise required by the Code, prepare and file or distribute, or cause to be prepared and
signed and filed or distributed, such documents with or to such Persons when and as required by the REMIC Provisions or the Code
or comparable provisions of state and local law;

 

(v)          within
30 days of the Closing Date, obtain a taxpayer identification number for each of the Lower-Tier REMIC and the Upper-Tier REMIC
on IRS Form SS-4 and (in the case of the Upper-Tier REMIC only), furnish or cause to be furnished to the IRS, on Form 8811 or as
otherwise may be required by the Code, the name, title and address of the person that the Certificateholders may contact for tax
information relating thereto (and the Certificate Administrator shall act as the representative of the Upper-Tier REMIC for this
purpose), together with such additional information as may be required by such Form, and shall update such information at the time
or times and in the manner required by the Code (and the Depositor agrees within ten (10) Business Days of the Closing Date to
provide any information reasonably requested by the Master Servicer, the Special Servicer or the Certificate Administrator and
necessary to make such filing); and

 

(vi)        maintain
such records relating to the Lower-Tier REMIC and the Upper-Tier REMIC as may be necessary to prepare the foregoing returns, schedules,
statements or information, such records, for federal income tax purposes, to be maintained on a calendar year and on an accrual
basis.

 

The Holder of the largest Percentage
Interest in the Class R Certificates shall be the tax matters person and “partnership representative” within the meaning
of Section 6223 of the Code, to the extent such provision is applicable to the Trust REMICs, of the Upper-Tier REMIC, and the Holder
of the largest Percentage Interest in the Class LR Certificates shall be the tax matters person and “partnership representative”
of the Lower-Tier REMIC pursuant to Treasury Regulations Section 1.860F-4(d). If more than one Holder shall hold an equal Percentage
Interest in the Class R or Class LR Certificates larger than that held by any other

 

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Holder, the first such Holder to have acquired
such Class R or Class LR Certificates shall be such tax matters person and “partnership representative”. The Certificate
Administrator shall act as attorney-in-fact and agent for the tax matters person and “partnership representative” of
the Lower-Tier REMIC and the Upper-Tier REMIC, and each Holder of a Percentage Interest in the Class R or Class LR Certificates,
by acceptance hereof, is deemed to have consented to the Certificate Administrator’s appointment in such capacities and agrees
to execute any documents required to give effect thereto, and any fees and expenses incurred by the Certificate Administrator in
connection with any audit or administrative or judicial proceeding shall be paid by the Trust Fund.

 

The Certificate Administrator’s
authority under this Agreement includes the authority to make, and the Certificate Administrator is hereby directed to make, any
elections allowed under the Code (i) to avoid the application of Section 6221 of the Code (or successor provisions) to either Trust
REMIC and (ii) to avoid payment by either Trust REMIC under Section 6225 of the Code (or successor provisions) of any tax, penalty,
interest or other amount imposed under the Code that would otherwise be imposed on any Holder of a Class R Certificate, past or
present. Each Holder of Class R Certificate agrees, by acquiring such Certificate, to any such elections.

 

The Certificate Administrator
shall not intentionally take any action or intentionally omit to take any action if, in taking or omitting to take such action,
the Certificate Administrator has actual knowledge that such action or omission (as the case may be) would cause the termination
of the REMIC status of the Lower-Tier REMIC or the Upper-Tier REMIC or the imposition of tax on the Lower-Tier REMIC or the Upper-Tier
REMIC (other than a tax on income expressly permitted to be received by the terms of this Agreement). Notwithstanding any provision
of this paragraph to the contrary, the Certificate Administrator shall not be required to take any action that the Certificate
Administrator in good faith believes to be inconsistent with any other provision of this Agreement, nor shall the Certificate Administrator
be deemed in violation of this paragraph if it takes any action expressly required or authorized by any other provision of this
Agreement, and the Certificate Administrator shall have no responsibility or liability with respect to any act or omission of the
Depositor, the Trustee, the Master Servicer or the Special Servicer which does not enable the Certificate Administrator to comply
with any of clauses (i) through (vi) of the first paragraph of this Section 4.04(a) or which results in any
action contemplated by clauses (i) or (ii) of the next succeeding sentence. In this regard the Certificate Administrator
shall (i) exercise reasonable care not to allow the occurrence of any “prohibited transactions” within the meaning
of Section 860F(a) of the Code, unless the party seeking such action shall have delivered to the Certificate Administrator an Opinion
of Counsel (at such party’s expense) that such occurrence would not (A) result in a taxable gain, (B) otherwise subject the
Lower-Tier REMIC or the Upper-Tier REMIC to tax (other than a tax at the highest marginal corporate tax rate on net income from
foreclosure property), or (c) cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC; and (ii) exercise
reasonable care not to allow the Trust Fund to receive any contributions, or any income from the performance of services or from
assets not permitted under the REMIC Provisions to be held by a REMIC (provided, however, that the receipt of any
income expressly permitted or contemplated by the terms of this Agreement shall not be deemed to violate this clause). None of
the Master Servicer, the Special Servicer, the Trustee or the Depositor shall be (i) permitted to take any action that the Certificate
Administrator would not be permitted to take

 

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pursuant to the preceding two sentences or (ii) responsible or liable (except in connection
with taking any act or omission referred to in the two preceding sentences or the following sentence) for any failure by the Certificate
Administrator to comply with the provisions of this Section 4.04. The Depositor, the Trustee, the Master Servicer and the
Special Servicer shall cooperate in a timely manner with the Certificate Administrator in supplying any information within the
Depositor’s, the Trustee’s, the Master Servicer’s or the Special Servicer’s control (other than any confidential
information) that is reasonably necessary to enable the Certificate Administrator to perform its duties under this Section 4.04.

 

(b)          The following assumptions
are to be used for purposes of determining the anticipated payments of principal and interest for calculating the original yield
to maturity and original issue discount with respect to the Regular Certificates: (i) the Trust Loan will pay principal and interest
in accordance with its terms and scheduled payments will be timely received on their Due Dates, provided that the Trust
Loan will prepay in accordance with the Prepayment Assumption; (ii) none of the Sole Certificateholder, the Master Servicer, the
Special Servicer or the Certificateholder owning a majority of the Percentage Interest in the Class R and Class LR Certificates
will exercise the right described in Section 9.01 of this Agreement to cause early termination of the Trust Fund; and (iii)
no Trust Loan is repurchased by the Trust Loan Sellers pursuant to Article II hereof.

 

Section
4.05          Imposition of Tax on the Trust Fund. In the event that
any tax, including interest, penalties or assessments, additional amounts or additions to tax, is imposed on the Lower-Tier
REMIC or the Upper-Tier REMIC, such tax shall be charged against amounts otherwise distributable to the Holders of the
Certificates; provided that any taxes imposed on any net income from foreclosure property pursuant to Section 860G(d)
of the Code or any similar tax imposed by a state or local jurisdiction shall instead be treated as an expense of the related
REO Property in determining Net REO Proceeds with respect to the REO Property (and until such taxes are paid, the Special
Servicer from time to time shall withdraw from amounts in the REO Account allocable to the Trust Loan and transfer to the
Certificate Administrator amounts reasonably determined by the Certificate Administrator to be necessary to pay such
taxes, which the Certificate Administrator shall maintain in a separate, non-interest-bearing account, and the Certificate
Administrator shall send to the Special Servicer for deposit in the REO Account the excess determined by the Certificate
Administrator from time to time of the amount in such account over the amount necessary to pay such taxes) and shall be paid
therefrom; provided that any such tax imposed on net income from foreclosure property that exceeds the amount in any
such reserve shall be retained from Available Funds as provided in Section 3.06(a)(xii) of this Agreement, and the
next sentence. Except as provided in the preceding sentence, the Certificate Administrator is hereby authorized to and shall
retain or cause to be retained from Available Funds sufficient funds to pay or provide for the payment of, and to actually
pay, such tax as is legally owed by the applicable Trust REMIC (but such authorization shall not prevent the Trustee from
contesting, at the expense of the Trust Fund, on a pro rata basis between the Trust Loan and each Companion Loan) any
such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such
proceedings). The Certificate Administrator is hereby authorized to and shall segregate or cause to be segregated, into a
separate non-interest bearing account, (i) the net income allocable to the Trust Loan from any “prohibited
transaction” under Section 860F(a) of the Code or (ii) the amount of any contribution to the Lower-Tier REMIC or the
Upper-Tier REMIC after the Startup Day that is

 

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subject to tax under Section 860G(d) of the Code and use such income or
amount, to the extent necessary, to pay such tax (and return the balance thereof, if any, to the Collection Account, the
Lower-Tier Distribution Account or the Upper-Tier Distribution Account, as the case may be). To the extent that any such tax
is paid to the IRS, the Certificate Administrator shall retain an equal amount from future amounts otherwise distributable to
the Holders of the Class R or the Class LR Certificates, as the case may be, and shall distribute such retained amounts
to the Holders of Regular Certificates, or the Trustee as Holder of the Lower-Tier Regular Interests, until they are fully
reimbursed and then to the Holders of the Class R Certificates or the Class LR Certificates, as applicable. Neither the
Master Servicer, the Special Servicer, the Certificate Administrator, nor the Trustee shall be responsible for any taxes
imposed on the Lower-Tier REMIC or the Upper-Tier REMIC except to the extent such tax is attributable to a breach of a
representation or warranty or the negligence or willful misconduct of the Master Servicer, the Special Servicer, the
Certificate Administrator or the Trustee or an act or omission of the Master Servicer, the Special Servicer, the Certificate
Administrator or the Trustee in contravention of this Agreement, provided, further, that such breach, act or
omission could result in liability under Section 6.03 of this Agreement, in the case of the Master Servicer, Section
4.04 of this Agreement, in the case of the Trustee or Section 4.04 of this Agreement, in the case of the
Certificate Administrator in accordance with the standard of liability set forth in those sections. Notwithstanding anything
in this Agreement to the contrary, in each such case, the Master Servicer or the Special Servicer shall not be responsible
for the Trustee’s or the Certificate Administrator’s breaches, acts or omissions, the Trustee shall not be
responsible for the breaches, acts or omissions of the Certificate Administrator, the Master Servicer or the Special Servicer
and the Certificate Administrator shall not be responsible for the breaches, acts or omissions of the Trustee, the Master
Servicer or the Special Servicers.

 

The Certificate Administrator
shall be responsible for obtaining a tax identification number for any REMIC specified herein, and shall be responsible for the
preparation of the related IRS Form W-9, if such form is requested. The Trustee shall be entitled to rely on the information contained
therein, and is hereby directed to execute such IRS Form W-9; provided, however, the Certificate Administrator shall also be directed
to execute such IRS Form W-9 (in lieu of the Trustee) if permitted by IRS regulations.

 

Section
4.06          Remittances. On the Servicer Remittance Date
immediately preceding each Distribution Date, the Master Servicer shall remit to (a) the Certificate Administrator for
deposit in the Lower-Tier Distribution Account, an amount equal to the Available Funds for such Distribution Date and (b)
remit to CREFC® the CREFC® License Fee.

 

Section 4.07          P&I
Advances and Administrative Advances. (a) On or before 3:00 p.m. (New York City time) on each Servicer Remittance Date, the
Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier Distribution Account from
its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution
Date, (ii) apply amounts held in the Collection Account for future distribution to Certificateholders in subsequent months in
discharge of any such obligation to make P&I Advances; provided, that such amounts in the Collection Account shall
only be applied up to the Trust Loan’s pro rata share of the amounts held therein on such date (unless such P&I
Advance has been determined to be nonrecoverable, in which case such amounts shall be applied pursuant to the Co-Lender Agreement)
or (iii) make P&I Advances in

 

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the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances
to be made by the Master Servicer, except that the portion of such P&I Advance equal to the CREFC® License
Fee shall not be remitted to the Certificate Administrator but shall instead be remitted to CREFC®. Any amounts
held in the Collection Account for future distribution and so used to make P&I Advances shall be appropriately reflected in
the Master Servicer’s records and replaced by the Master Servicer by deposit in the Collection Account on or before the
next succeeding P&I Advance Determination Date (to the extent not previously replaced through either (x) the deposit of Late
Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made or (y) the deposit
of Monthly Payments collected prior to the expiration of any applicable grace period that ends after the P&I Advance Determination
Date in respect of which such P&I Advances were made). The Master Servicer shall notify the Trustee and the Certificate Administrator
of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances
for such Distribution Date, on or before the P&I Advance Determination Date. If the Master Servicer fails to make a required
P&I Advance by 3:00 p.m. (New York City time) on any Servicer Remittance Date, then the Trustee shall make such P&I Advance
pursuant to Section 7.06 of this Agreement by 12:00 noon (New York City time) on the related Distribution Date, in each
case unless the Master Servicer shall have cured such failure (and provided written notice of such cure to the Trustee)
by 11:00 a.m. (New York City time) on such Distribution Date or the Trustee determines that such P&I Advance, if made, would
be a Nonrecoverable Advance. If the Master Servicer or the Trustee makes a P&I Advance with respect to the Trust Loan, then
it shall provide written notice to the related Other Servicer, Other Special Servicer and Other Trustee of the amount of such
P&I Advance within two (2) Business Days of making such P&I Advance.

 

(b)          Subject to Section
4.07(d) and 4.07(e) below, the aggregate amount of P&I Advances to be made by the Master Servicer with respect to
any Distribution Date shall equal the aggregate of: (i) the Monthly Payment (net of related Servicing Fees) other than the Balloon
Payment that was due during the related Collection Period and delinquent (or unpaid, pending the expiration of any applicable grace
period with respect to the Trust Loan having a grace period extending past the P&I Advance Determination Date) as of the close
of business on the P&I Advance Determination Date (or not advanced by the Master Servicer or any Sub-Servicer on behalf of
the Master Servicer) with respect to the Trust Loan and (ii) with respect to the Balloon Payment that was due during or prior to
the related Collection Period and was delinquent (including any applicable grace period) as of the end of the related Collection
Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled
Payment therefor. Subject to subsection (c) below, the obligation of the Master Servicer or the Trustee, as applicable,
to make such P&I Advances with respect to the Trust Loan (or REO Loan) is mandatory, and with respect to the Trust Loan or
REO Loan, shall continue until the Distribution Date on which Liquidation Proceeds or REO Proceeds, if any, are to be distributed.
The Monthly Payment or Assumed Scheduled Payment shall be reduced, for purposes of P&I Advances, by any modifications pursuant
to Section 3.26 of this Agreement or otherwise and by any reductions by a bankruptcy court pursuant to a plan of reorganization
or pursuant to any of its equitable powers.

 

(c)          Subject to Section
4.07(d) and 4.07(e) below, the Master Servicer shall also make advances (“Administrative Advances”)
with respect to the Trust Loan to pay Special Servicing Fees, Workout Fees, Liquidation Fees, Advance Interest Amounts and other
out-of-

 

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pocket costs and expenses incurred by the Trust or by the Master Servicer, the Special Servicer, the Certificate Administrator,
the Custodian or the Trustee in connection with the servicing and administration of the Whole Loan allocable to the Trust Loan
not otherwise covered by a Property Advance, including in connection with any workout of the Whole Loan or enforcement of the terms
of the Loan Documents, in each case, to the extent the Borrower (1) is obligated to reimburse the Trust for such amounts pursuant
to the Loan Documents and (2) does not pay such amounts on or prior to the time when the party is entitled to payment or reimbursement
of such amounts from the Collection Account or the Distribution Account in accordance with terms of this Agreement. The Master
Servicer shall deposit Administrative Advances into the Collection Account within the same time frame required for P&I Advances
as provided in Section 4.07(a). The Master Servicer shall notify the Trustee and the Certificate Administrator of (i) the
aggregate amount of Administrative Advances for a Distribution Date and (ii) the amount of any Nonrecoverable Administrative Advances
for such Distribution Date, on or before the P&I Advance Determination Date. If the Master Servicer fails to make a required
Administrative Advance by 3:00 p.m. (New York City time) on any Servicer Remittance Date, then the Trustee shall make such Administrative
Advance pursuant to Section 7.06 of this Agreement by 12:00 noon (New York City time) on the related Distribution Date,
in each case unless the Master Servicer shall have cured such failure (and provided written notice of such cure to the Trustee)
by 11:00 a.m. (New York City time) on such Distribution Date or the Trustee determines that such Administrative Advance, if made,
would be a Nonrecoverable Advance.

 

(d)          Notwithstanding anything
herein to the contrary, no P&I Advance or Administrative Advance shall be required hereunder if the Master Servicer, the Special
Servicer or the Trustee, as applicable, determines that such P&I Advance or Administrative Advance (together with interest
on such P&I Advance or Administrative Advance, as applicable at the Advance Rate) would, if made, constitute a Nonrecoverable
Advance. In addition, the Master Servicer shall not make any P&I Advance or Administrative Advance to the extent that it has
received written notice that the Special Servicer has determined that such P&I Advance or Administrative Advance would, if
made, constitute a Nonrecoverable P&I Advance or Nonrecoverable Administrative Advance. In making such nonrecoverability determination,
the Master Servicer, the Special Servicer and Trustee shall be entitled (i) to give due regard to the existence of any Nonrecoverable
Advance with respect to the Trust Loan, the recovery of which, at the time of such consideration, is being deferred or delayed
by the Master Servicer or the Trustee, as applicable, in light of the fact that proceeds on the Trust Loan are a source of recovery
not only for the Advance under consideration, but also as a potential source of recovery of such Nonrecoverable Advance which is
being or may be deferred or delayed, (ii) to consider (among other things) the obligations of the Borrower under the terms of the
Whole Loan as it may have been modified, (iii) to consider (among other things) the Mortgaged Property in its “as-is”
or then-current conditions and occupancy, as modified by such party’s assumptions (consistent with the Servicing Standard
in the case of the Master Servicer or the Special Servicer) regarding the possibility and effects of future adverse changes with
respect to the Mortgaged Property, (iv) to estimate and consider (consistent with the Servicing Standard in the case of the Master
Servicer or the Special Servicer) (among other things) future expenses and (v) to estimate and consider (among other things) the
timing of recoveries.

 

If an Appraisal of the Mortgaged
Property shall not have been obtained within the prior 9-month period (and the Master Servicer and the Trustee shall each request
any such

 

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appraisal from the Special Servicer prior to ordering an Appraisal pursuant to this sentence) or if such an Appraisal
shall have been obtained but as a result of unforeseen occurrences, such Appraisal does not, in the good faith determination of
the Master Servicer, the Special Servicer or the Trustee, reflect current market conditions, and the Master Servicer or the Trustee,
as applicable, and the Special Servicer cannot agree on the appropriate downward adjustment to such Appraisal, the Master Servicer,
the Special Servicer or the Trustee, as the case may be, may, subject to its reasonable and good faith determination that such
Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of
the Trust Fund.

 

Any such determination by the
Master Servicer, Special Servicer or the Trustee that the Master Servicer or Trustee, as applicable, has made a Nonrecoverable
Advance or that any proposed P&I Advance or Administrative Advance, if made, would constitute a Nonrecoverable Advance shall
be evidenced, in the case of the Master Servicer or the Special Servicer, by a certificate of a Servicing Officer delivered to
the other and to the Trustee, the Certificate Administrator, the Depositor and the Directing Holder (if such determination was
made during a Subordinate Control Period or a Subordinate Consultation Period) and, in the case of the Trustee, by a certificate
of a Responsible Officer of the Trustee, delivered to the Depositor, the Certificate Administrator, the Master Servicer and the
Special Servicer, which in each case sets forth such nonrecoverability determination and the considerations of the Master Servicer,
Special Servicer or the Trustee, as applicable, forming the basis of such determination (such certificate to be accompanied by,
to the extent available, income and expense statements, rent rolls, occupancy status, property inspections and other information
used by the Master Servicer, Special Servicer or the Trustee, as applicable, to make such determination, together with any existing
Appraisal or any Updated Appraisal); provided, however, that the Special Servicer may, at its option, make a determination
in accordance with the Servicing Standard, that any P&I Advance or Administrative Advance previously made or proposed to be
made is nonrecoverable and shall deliver to the Master Servicer, Special Servicer, the Certificate Administrator, the Trustee,
the 17g-5 Information Provider (which shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant
to Section 3.14(d) of this Agreement) notice of such determination, together with a certificate of a Servicing Officer and
the supporting information described above. Any such determination shall be conclusive and binding on the Master Servicer, the
Special Servicer and the Trustee.

 

Any such Person may update or
change its recoverability determinations at any time (but not reverse any other Person’s determination that a P&I Advance
or Administrative Advance is a Nonrecoverable Advance) and (consistent with the Servicing Standard in the case of the Master Servicer
or the Special Servicer) may obtain, at the expense of the Trust Fund, any analysis, Appraisals or market value estimates or other
information for such purposes. Absent bad faith, any such determination as to the recoverability of any P&I Advance or Administrative
Advance shall be conclusive and binding on the Certificateholders.

 

Notwithstanding the above, (i)
the Trustee shall be entitled to rely conclusively on, and shall be bound by, any determination by the Master Servicer or the Special
Servicer, as applicable, that a P&I Advance or Administrative Advance, if made, would be a Nonrecoverable Advance, if such
determination is received prior to the applicable Advance, and (ii) the Master Servicer will be entitled to rely conclusively on,
and shall be bound by, any determination of the

 

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Special Servicer that a P&I Advance or Administrative Advance, if made, would
be a Nonrecoverable Advance, if such determination is received prior to the applicable Advance. The Trustee, in determining whether
or not a P&I Advance or Administrative Advance previously made is, or a proposed P&I Advance or Administrative Advance,
if made, would be, a Nonrecoverable Advance shall be subject to the standards applicable to the Master Servicer hereunder. The
Special Servicer shall promptly furnish the Master Servicer and the Trustee with any information in its possession regarding a
Specially Serviced Loan or an REO Property as each such party may reasonably request for purposes of making recoverability determinations.

 

(e)          In connection with the
recovery of any P&I Advance or Administrative Advance out of the Collection Account pursuant to Section 3.06(a) of this
Agreement, the Master Servicer shall be entitled to pay itself or the Trustee, as the case may be (in reverse of such order with
respect to the Trust Loan or REO Property) out of any amounts then on deposit in the Collection Account interest at the Advance
Rate in effect from time to time, accrued on the amount of such P&I Advance or Administrative Advance from the date made with
respect to the Trust Loan. The Master Servicer shall reimburse itself or the Trustee, as the case may be, for any outstanding P&I
Advance or Administrative Advance as soon as practicably possible after funds available for such purpose are deposited in the Collection
Account with respect to the Trust Loan.

 

Notwithstanding anything to the
contrary contained in Section 4.06 of this Agreement, (i) neither the Master Servicer nor the Trustee shall make an advance
for Prepayment Charges, Penalty Charges or any cure payments and (ii) the interest portion of any P&I Advance with respect
to the Trust Loan as to which there has been an Appraisal Reduction Amount will be an amount equal to the product of (x) the amount
required to be advanced without giving effect to the Appraisal Reduction Amount and (y) a fraction, the numerator of which is the
Stated Principal Balance of the Trust Loan as of the immediately preceding Determination Date less any Appraisal Reduction Amount
applicable to the Trust Loan and the denominator of which is the Stated Principal Balance of the Trust Loan as of such Determination
Date. All P&I Advances for the Trust Loan that has been modified shall be calculated on the basis of their terms as modified.
For the avoidance of doubt, the Master Servicer shall have no obligation to make a principal and interest advance or an administrative
advance with respect to the Companion Loans.

 

The portion of any Insurance
Proceeds, Net Liquidation Proceeds and Net Condemnation Proceeds in respect of the Trust Loan or any REO Loan allocable to principal
shall equal the total amount of such proceeds minus (i) any portion thereof payable to the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee pursuant to this Agreement and (ii) a portion thereof equal to the interest component
of the Monthly Payment(s), as accrued at the related Net Mortgage Rate from the date as to which interest was last paid by the
Borrower up to but not including the Due Date in the Collection Period in which such proceeds are received; provided, however,
that in the event that the interest portion(s) of one or more P&I Advances with respect of the Trust Loan or REO Loan, as applicable,
were reduced as a result of an Appraisal Reduction Event, the amount of the Net Liquidation Proceeds and Net Condemnation Proceeds
to be applied to interest shall be reduced by the aggregate amount of such reductions and the portion of such Net Liquidation Proceeds
and Net Condemnation Proceeds to be applied to principal shall be increased by such amount, and if the amount of the

 

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Net Liquidation
Proceeds and Net Condemnation Proceeds to be applied to principal has been applied to pay the principal of the Trust Loan or REO
Loan in full, any remaining Net Liquidation Proceeds and Net Condemnation Proceeds shall then be applied to pay any remaining accrued
and unpaid interest of the Trust Loan or REO Loan.

 

(f)          The Master Servicer or
the Trustee, as applicable, shall be entitled to the reimbursement of P&I Advances or Administrative Advances it makes to the
extent permitted pursuant to Section 3.06 of this Agreement together with any related Advance Interest Amount in respect
of such P&I Advances or Administrative Advances to the extent permitted pursuant to Section 3.06 of this Agreement and
the Master Servicer and the Special Servicer each hereby covenants and agrees to promptly seek and effect the reimbursement of
such Advances from the Borrower to the extent permitted by applicable law and the Trust Loan and this Agreement.

 

(g)          The Master Servicer will
be permitted to make its determination that it has made a P&I Advance on the Trust Loan that is a Nonrecoverable P&I Advance
or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance with respect to such Trust Loan
in accordance with Section 4.07(a) independently of any determination made in respect of the Companion Loans, by the master
servicer under the related Other Pooling and Servicing Agreement. If the Master Servicer or Trustee, as applicable, determines
that a proposed P&I Advance with respect to the Whole Loan, if made, or any outstanding P&I Advance with respect to any
such Trust Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance or if the Master Servicer or Trustee,
as applicable, subsequently determines that a proposed Property Advance would be a Nonrecoverable Advance or an outstanding Property
Advance is or would be a Nonrecoverable Advance, the Master Servicer or Trustee, as applicable, shall provide the Other Servicer,
Other Special Servicer and the Other Trustee under each related Other Pooling and Servicing Agreement with written notice of such
determination, promptly and in any event within two (2) Business Days after such determination or such longer time period permitted
by the applicable Co-Lender Agreement. If the Master Servicer receives written notice from any master servicer under any such Other
Pooling and Servicing Agreement that such master servicer has determined, with respect to the related Companion Loan, that any
proposed advance of principal and/or interest with respect to such Companion Loan would be, or any outstanding advance of principal
and interest is, a nonrecoverable advance of principal and/or interest, such determination shall not be binding on the Certificateholders,
the Master Servicer or the Trustee.

 

If the Master Servicer or Special
Servicer receives notice from a Rating Agency that it is no longer approved as a master servicer or a special servicer, as applicable,
for commercial mortgage securitizations, it shall promptly notify the Trustee, any Other Trustee, any Other Servicer and any other
trustee or master servicer with respect to each commercial mortgage securitization that holds a Companion Loan, if any.

 

Section
4.08          Appraisal Reductions; Collateral Deficiency Amounts.
(a) For purposes of determining (x) the Non-Reduced Certificates and the Controlling Class and (y) the Voting Rights of the
related Classes for purposes of removal of the Master Servicer or Special Servicer or determining whether a Subordinate
Control Period or Subordinate Consultation Period is then in effect, Appraisal Reductions allocated to the Trust Loan will be
allocated to each Class of Principal Balance Certificates in reverse sequential order to notionally reduce the related
Certificate Balances until the Certificate Balance of each such Class is reduced to zero

 

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(i.e., first, to the
Class D Certificates, second, to the Class C Certificates, third, to the Class B Certificates, and fourth,
to the Class A Certificates. The Master Servicer shall notify the Paying Agent of the amount of any Appraisal Reduction with
respect to the Trust Loan.

 

As of the first Determination
Date following the Whole Loan becoming an AB Modified Loan, the Master Servicer shall calculate whether a Collateral Deficiency
Amount exists with respect to such AB Modified Loan, taking into account the most recent Appraisal obtained by the Special Servicer
with respect to the Trust Loan, and all other information relevant to a Collateral Deficiency Amount determination. The Special
Servicer, upon reasonable prior written request, shall provide the Master Servicer with information in its possession that is reasonably
required to calculate or recalculate any Collateral Deficiency Amount. None of the Special Servicer, the Trustee or the Certificate
Administrator shall calculate or verify any Collateral Deficiency Amount.

 

For purposes of determining the
Controlling Class and whether a Subordinate Control Period or Subordinate Consultation Period is then in effect, Appraisal Reduction
Amounts allocated to an AB Modified Loan will be allocated to the Class D Certificates to notionally reduce the related Certificate
Balance until the Certificate Balance of such Class of Certificates is reduced to zero.

 

With respect to (i) any Appraisal
Reduction Amount calculated for the purposes of determining the Non-Reduced Certificates or determining the Voting Rights of the
related Classes for purposes of removal of the Special Servicer and (ii) any Appraisal Reduction Amount or Collateral Deficiency
Amount calculated for purposes of determining the Controlling Class or the occurrence of a Subordinate Control Period or Subordinate
Consultation Period is then in effect, the appraised value of the related Mortgaged Property shall be determined on an “as
is” basis.

 

The Master Servicer shall promptly
notify the Certificate Administrator of the amount of any Appraisal Reduction Amount and any Collateral Deficiency Amount allocated
to the Whole Loan or AB Modified Loan.

 

Based on information in its possession,
the Certificate Administrator shall determine from time to time if the Class D Certificates are the Controlling Class. Promptly
upon its determination that the Class D Certificates are no longer the Controlling Class and that there is therefore no Controlling
Class, the Certificate Administrator shall notify the Master Servicer and the Special Servicer of such event (the cost of obtaining
such information from the Depository being an expense of the Trust).

 

ARTICLE
V

THE CERTIFICATES

 

Section
5.01          The Certificates. (a) The Certificates consist of the
Class A Certificates, the Class X-A Certificates, the Class B Certificates, the Class C Certificates, the Class D
Certificates, the Class R Certificates and the Class LR Certificates.

 

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The Class A, Class X-A, Class
B, Class C, Class D, Class R and Class LR Certificates will be substantially in the forms of Exhibits A-1 through A-7
to this Agreement, as set forth in the Table of Exhibits to this Agreement. The Certificates of each Class will be issuable in
registered form only, in minimum denominations of authorized Certificate Balance or Notional Balance, as applicable, as described
in the succeeding table, and multiples of $l in excess thereof (or such lesser amount if the Certificate Balance or Notional Balance,
as applicable, is not a multiple of $1). With respect to any Certificate or any beneficial interest in a Certificate, the “Denomination”
thereof shall be (i) the amount (A) set forth on the face thereof or (B) in the case of any Global Certificate, set forth on a
schedule attached thereto or, in the case of any beneficial interest in a Global Certificate, the amount set forth on the books
and records of the related Depository Participant or indirect participating brokerage firm, as applicable, (ii) expressed in terms
of Certificate Balance or Notional Balance, as applicable, and (iii) be in an authorized denomination, as set forth below.

 

	Class
	Minimum

        Denomination
	Aggregate
        Denomination of

        all Certificates of Class

	A          	          $100,000	$150,000,000
	X-A          	          $1,000,000	$185,000,00
	B          	          $100,000	$35,000,000
	C          	          $100,000	$59,629,000
	D          	          $100,000	$62,313,000

 

Each Certificate will share ratably
in all rights of the related Class. The Class R and Class LR Certificates will each be issuable in one or more registered, definitive
physical certificates in minimum denominations of 5% Percentage Interests and integral multiples of a 1% Percentage Interest in
excess thereof and together aggregating the entire 100% Percentage Interest in each such Class.

 

The Global Certificates shall
be issued as one or more certificates registered in the name of a nominee designated by the Depository, and Beneficial Owners shall
hold interests in the Global Certificates through the book-entry facilities of the Depository in the minimum Denominations and
aggregate Denominations and Classes as set forth above.

 

The Global Certificates shall
in all respects be entitled to the same benefits under this Agreement as Individual Certificates authenticated and delivered hereunder.

 

(b)          Except insofar as pertains
to any Individual Certificate, the Trust Fund, the Certificate Administrator, the Paying Agent and the Trustee may for all purposes
(including the making of payments due on the Global Certificates and the giving of notice to Holders thereof) deal with the Depository
as the authorized representative of the Beneficial Owners with respect to the Global Certificates for the purposes of exercising
the rights of Certificateholders hereunder; provided, however, that, for purposes of transmitting communications
pursuant to Section 5.05(a) of this Agreement, to the extent that the Depository has provided the Certificate Administrator
with the names of Beneficial Owners (even if such Certificateholders hold their Certificates through the Depository) the Certificate
Administrator shall provide such information to such Beneficial Owners directly. The rights of Beneficial Owners with respect to
Global Certificates shall be limited to those established by law and agreements between such Certificateholders and the Depository
and Depository Participants. Except as set forth in Section

 

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5.01(e) below, Beneficial Owners of Global Certificates shall
not be entitled to physical certificates for the Global Certificates as to which they are the Beneficial Owners. Requests and directions
from, and votes of, the Depository as Holder of the Global Certificates shall not be deemed inconsistent if they are made with
respect to different Beneficial Owners. Subject to the restrictions on transfer set forth in this Section 5.01 of this Agreement
and Applicable Procedures, the holder of a beneficial interest in a Global Certificate may request that the Certificate Administrator
cause the Depository (or any Agent Member) to notify the Certificate Registrar and the Certificate Custodian in writing of a request
for transfer or exchange of such beneficial interest for an Individual Certificate or Certificates. Upon receipt of such a request
and payment by the related Beneficial Owner of any attendant expenses, the Certificate Administrator shall cause the issuance and
delivery of such Individual Certificates. The Depositor may establish a reasonable record date in connection with solicitations
of consents from or voting by Certificateholders and give notice to the Depository of such record date. Without the written consent
of the Certificate Registrar, no Global Certificate may be transferred by the Depository except to a successor Depository that
agrees to hold the Global Certificates for the account of the Beneficial Owners.

 

(c)          Any of the Certificates
may be issued with appropriate insertions, omissions, substitutions and variations, and may have imprinted or otherwise reproduced
thereon such legend or legends, not inconsistent with the provisions of this Agreement, as may be required to comply with any law
or with rules or regulations pursuant thereto, or with the rules of any securities market in which the Certificates are admitted
to trading, or to conform to general usage.

 

(d)          The Global Certificates
(i) shall be delivered by the Certificate Registrar to the Depository or, pursuant to the Depository’s instructions on behalf
of the Depository to, and deposited with, the Certificate Custodian, and in either case shall be registered in the name of Cede
& Co. and (ii) shall bear a legend substantially to the following effect:

 

“Unless this certificate is presented by
an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Certificate
Registrar for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede &
Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or
to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein”.

 

The Global Certificates may be
deposited with such other Depository as the Certificate Registrar may from time to time designate, and shall bear such legend as
may be appropriate.

 

(e)          If (i) the Depository
advises the Certificate Administrator in writing that the Depository is no longer willing, qualified or able properly to discharge
its responsibilities as Depository, and the Depositor is unable to locate a qualified successor or (ii) the Depositor, at its

 

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sole
option, elects in writing to the Certificate Administrator and to the Depository to terminate the book-entry system through the
Depository with respect to all or any portion of any Class of Certificates, the Certificate Administrator shall notify the affected
Beneficial Owner or Owners through the Depository of the occurrence of such event and the availability of Individual Certificates
to such Beneficial Owners requesting them. Upon surrender to the Certificate Administrator of Global Certificates by the Depository,
accompanied by registration instructions from the Depository for registration of transfer, the Certificate Administrator shall
issue the Individual Certificates. Neither the Trustee, the Certificate Administrator, the Certificate Registrar, the Master Servicer,
the Special Servicer nor the Depositor shall be liable for any actions taken by the Depository or its nominee, including, without
limitation, any delay in delivery of such instructions. Upon the issuance of Individual Certificates, the Trustee, the Certificate
Administrator, the Certificate Registrar, the Master Servicer and the Special Servicer shall recognize the Holders of Individual
Certificates as Certificateholders hereunder.

 

(f)          If the Trustee, its agents,
the Certificate Administrator, its agents or the Master Servicer or Special Servicer have instituted or have been directed to institute
any judicial proceeding in a court to enforce the rights of the Certificateholders under the Certificates, and the Trustee, the
Certificate Administrator, the Master Servicer or the Special Servicer have been advised by counsel that in connection with such
proceeding it is necessary or appropriate for the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer
to obtain possession of the Certificates, the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer
may in their sole discretion determine that the Certificates represented by the Global Certificates shall no longer be represented
by such Global Certificates. In such event, the Certificate Administrator or the Authenticating Agent will execute and authenticate
and the Certificate Registrar will deliver, in exchange for such Global Certificates, Individual Certificates (and if the Certificate
Administrator or the Certificate Custodian has in its possession Individual Certificates previously executed, the Authenticating
Agent will authenticate and the Certificate Registrar will deliver such Certificates) in a Denomination equal to the aggregate
Denomination of such Global Certificates.

 

(g)          Each Certificate may be
printed or in typewritten or similar form, and each Certificate shall, upon original issue, be executed and authenticated by the
Certificate Administrator or the Authenticating Agent and delivered to, or at the order of, the Depositor. All Certificates shall
be executed by manual or facsimile signature on behalf of the Certificate Administrator or Authenticating Agent by an authorized
officer or signatory. Certificates bearing the signature of an individual who was at any time the proper officer or signatory of
the Certificate Administrator or Authenticating Agent shall bind the Certificate Administrator or Authenticating Agent, notwithstanding
that such individual has ceased to hold such office or position prior to the delivery of such Certificates or did not hold such
office or position at the date of such Certificates. No Certificate shall be entitled to any benefit under this Agreement, or be
valid for any purpose, unless there appears on such Certificate a certificate of authentication in the form set forth in Exhibits
A-1 through A-7 executed by the Authenticating Agent by manual signature, and such certificate of authentication upon
any Certificate shall be conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered
hereunder. All Certificates shall be dated the date of their authentication.

 

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(h)           If,
in connection with any Distribution Date, the Certificate Administrator shall have reported the amount of an anticipated distribution
to the Depository based on the expected receipt of any monthly payment based on information set forth in any report of the Master
Servicer or the Special Servicer, or any other monthly payment, Balloon Payment or prepayment expected to be paid on the last two
(2) Business Days preceding such Distribution Date, and the Borrower fails to make such payments at such time, the Certificate
Administrator shall use commercially reasonable efforts to cause the Depository to make the revised distribution on a timely basis
on such Distribution Date. Any out-of-pocket costs incurred by the Certificate Administrator as a consequence of the Borrower failing
to make such payments shall be reimbursable to the Certificate Administrator as an expense of the Trust Fund.

 

Section 5.02 Registration,
Transfer and Exchange of Certificates. (a)  The Certificate Administrator shall keep or cause to be kept at its
offices books (the “Certificate Register”) for the registration, transfer and exchange of Certificates (the
Certificate Administrator, in such capacity, being the “Certificate Registrar”). The Depositor, the Trustee,
the Master Servicer and the Special Servicer shall have the right to inspect the Certificate Register or to obtain a copy thereof
at all reasonable times, and to rely conclusively upon a certificate of the Certificate Registrar as to the information set forth
in the Certificate Register. The names and addresses of all Certificateholders and the names and addresses of the transferees
of any Certificates shall be registered in the Certificate Register; provided, however, that in no event shall the
Certificate Registrar be required to maintain in the Certificate Register the names of the individual Participants holding beneficial
interests in the Trust Fund through the Depository. The Person in whose name any Certificate is so registered shall be deemed
and treated as the sole owner and Holder thereof for all purposes of this Agreement and the Depositor, Certificate Registrar,
the Master Servicer, Special Servicer, the Trustee, the Certificate Administrator, any Paying Agent and any agent of any of them
shall not be affected by any notice or knowledge to the contrary. An Individual Certificate is transferable or exchangeable only
upon the surrender of such Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements of Section 5.01(g) and Sections 5.02(c),
(d), (e), (f), (g), (h) and (i) of this Agreement. Upon request of the Certificate Administrator,
the Certificate Registrar shall provide the Certificate Administrator with the names, addresses and Percentage Interests of the
Holders.

 

(b)           Upon
surrender for registration of transfer of any Individual Certificate, subject to the requirements of Sections 5.02(c),
(d), (e), (f), (g), (h) and (i) of this Agreement, the Certificate Administrator shall
execute and the Authenticating Agent shall duly authenticate in the name of the designated transferee or transferees, one or more
new Certificates in Denominations of a like aggregate Denomination as the Individual Certificate being surrendered. Such Certificates
shall be delivered by the Certificate Registrar in accordance with Section 5.02(e) of this Agreement. Each Certificate surrendered
for registration of transfer shall be canceled and subsequently destroyed by the Certificate Registrar. Each new Certificate issued
pursuant to this Section 5.02 shall be registered in the name of any Person as the transferring Holder may request, subject
to the provisions of Sections 5.01(g) and 5.02(c), (d), (e), (f), (g), (h)
and (i) of this Agreement.

 

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(c)           In
addition to the provisions of Sections 5.01(g) and 5.02(d), (e), (f), (g), (h) and
(i) of this Agreement and the rules of the Depository, the exchange, transfer and registration of transfer of Individual
Certificates or beneficial interests in the Global Certificates shall be subject to the following restrictions:

 

(i)            Transfers
between Holders of Individual Certificates. With respect to the transfer and registration of transfer of an Individual Certificate
to a transferee that takes delivery in the form of an Individual Certificate:

 

(A)         The
Certificate Registrar shall register the transfer of an Individual Certificate if (1) the requested transfer is being made (x)
in connection with the initial transfer from an Initial Purchaser to an initial investor or (y) by a transferee who has provided
the Certificate Registrar with an Investment Representation Letter substantially in the form of Exhibit D-1 to this
Agreement (an “Investment Representation Letter”), to the effect that the transfer is being made to a Qualified
Institutional Buyer in accordance with Rule 144A or (2) prior to the transfer the related transferee furnishes to the Certificate
Registrar (x) an Investment Representation Letter to the effect that the transfer is being made to an Institutional Accredited
Investor (other than a Qualified Institutional Buyer) or to an Affiliated Person in accordance with an applicable exemption under
the Act, and (y) in the case of a transfer to an Affiliated Person, an opinion of counsel acceptable to the Certificate Registrar
that such transfer is in compliance with the Act; or

 

(B)         The
Certificate Registrar shall register the transfer of an Individual Certificate pursuant to Regulation S after the expiration of
the Restricted Period if (1) the transferor has provided the Certificate Registrar with a Regulation S Transfer Certificate
substantially in the form of Exhibit G to this Agreement (a “Regulation S Transfer Certificate”),
and (2) the transferee furnishes to the Certificate Registrar an Investment Representation Letter;

 

and, in each case, the Certificate
Registrar shall register the transfer of an Individual Certificate only if prior to the transfer the transferee furnishes to the
Certificate Registrar a written undertaking by the transferor to reimburse the Trust Fund for any costs incurred by it in connection
with the proposed transfer. In addition, the Certificate Registrar may, as a condition of the registration of any such transfer,
require the transferor to furnish such other certificates, legal opinions or other information (at the transferor’s expense)
as the Certificate Registrar may reasonably require to confirm that the proposed transfer is being made pursuant to an exemption
from, or in a transaction not subject to, the registration requirements of the Act and other applicable laws.

 

(ii)           Transfers
within the Global Certificates. Notwithstanding any provision to the contrary herein, so long as a Global Certificate remains
outstanding and is held by or on behalf of the Depository, transfers within the Global Certificates shall only be made in accordance
with this Section 5.02(c)(ii).

 

(A)         Rule 144A
Global Certificate to Regulation S Global Certificate During the Restricted Period. If, during the Restricted Period, a Beneficial
Owner

 

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of an interest in a Rule 144A Global Certificate wishes at any time to transfer its beneficial interest in such Rule 144A
Global Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related Regulation
S Global Certificate, such Beneficial Owner may, in addition to complying with all applicable rules and procedures of the Depository
and Clearstream or Euroclear applicable to transfers by their respective participants (the “Applicable Procedures”),
transfer or cause the transfer of such beneficial interest for an equivalent beneficial interest in such Regulation S Global Certificate
only upon compliance with the provisions of this Section 5.02(c)(ii)(A). Upon receipt by the Certificate Registrar at the
Corporate Trust Office of (1) written instructions given in accordance with the Applicable Procedures from an Agent Member
directing the Certificate Registrar to credit or cause to be credited to another specified Agent Member’s account a beneficial
interest in the Regulation S Global Certificate in an amount equal to the Denomination of the beneficial interest in the Rule 144A
Global Certificate to be transferred, (2) a written order given in accordance with the Applicable Procedures containing information
regarding the account of the Agent Member and the Euroclear or Clearstream account, as the case may be, to be credited with, and
the account of the Agent Member to be debited for, such beneficial interest, and (3) a certificate in the form of Exhibit H
to this Agreement given by the Beneficial Owner of such interest, the Certificate Registrar shall instruct the Depository or the
Certificate Custodian, as applicable, to reduce the Denomination of the Rule 144A Global Certificate by the Denomination of
the beneficial interest in the Rule 144A Global Certificate to be so transferred and, concurrently with such reduction, to
increase the Denomination of the Regulation S Global Certificate by the Denomination of the beneficial interest in the Rule 144A
Global Certificate to be so transferred, and to credit or cause to be credited to the account of the Person specified in such instructions
(who shall be an Agent Member acting for or on behalf of Euroclear or Clearstream, or both, as the ease may be) a beneficial interest
in the Regulation S Global Certificate having a Denomination equal to the amount by which the Denomination of the Rule 144A
Global Certificate was reduced upon such transfer.

 

(B)         Rule 144A
Global Certificate to Regulation S Global Certificate After the Restricted Period. If, after the Restricted Period, a Beneficial
Owner of an interest in a Rule 144A Global Certificate wishes at any time to transfer its beneficial interest in such Rule 144A
Global Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related Regulation
S Global Certificate, such holder may, in addition to complying with all Applicable Procedures, transfer or cause the transfer
of such beneficial interest for an equivalent beneficial interest in such Regulation S Global Certificate only upon compliance
with the provisions of this Section 5.02(c)(ii)(B). Upon receipt by the Certificate Registrar at the Corporate Trust Office
of (1) written instructions given in accordance with the Applicable Procedures from an Agent Member directing the Certificate
Registrar to credit or cause to be credited to another specified Agent Member’s account a beneficial interest in the Regulation
S Global Certificate in an amount equal to the Denomination of the beneficial

 

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interest in the Rule 144A Global Certificate
to be transferred, (2) a written order given in accordance with the Applicable Procedures containing information regarding
the account of the Agent Member and, in the case of a transfer pursuant to and in accordance with Regulation S, the Euroclear or
Clearstream account, as the case may be, to be credited with, and the account of the Agent Member to be debited for, such beneficial
interest, and (3) a certificate in the form of Exhibit I to this Agreement given by the Beneficial Owner of such
interest, the Certificate Registrar shall instruct the Depository or the Certificate Custodian, as applicable, to reduce the Denomination
of the Rule 144A Global Certificate by the aggregate Denomination of the beneficial interest in the Rule 144A Global
Certificate to be so transferred and, concurrently with such reduction, to increase the Denomination of the Regulation S Global
Certificate by the aggregate Denomination of the beneficial interest in the Rule 144A Global Certificate to be so transferred,
and to credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the
Regulation S Global Certificate having a Denomination equal to the amount by which the Denomination of the Rule 144A Global
Certificate was reduced upon such transfer.

 

(C)         Regulation
S Global Certificate to Rule 144A Global Certificate. If the Beneficial Owner of an interest in a Regulation S Global
Certificate wishes at any time to transfer its beneficial interest in such Regulation S Global Certificate to a Person who wishes
to take delivery thereof in the form of a beneficial interest in the related Rule 144A Global Certificate, such Beneficial
Owner may, in addition to complying with all Applicable Procedures, transfer or cause the transfer of such beneficial interest
for an equivalent beneficial interest in such Rule 144A Global Certificate only upon compliance with the provisions of this
Section 5.02(c)(ii)(C). Upon receipt by the Certificate Registrar at the Corporate Trust Office of (1) written instructions
given in accordance with the Applicable Procedures from an Agent Member directing the Certificate Registrar to credit or cause
to be credited to another specified Agent Member’s account a beneficial interest in the Rule 144A Global Certificate
in an amount equal to the Denomination of the beneficial interest in the Regulation S Global Certificate to be transferred, (2) a
written order given in accordance with the Applicable Procedures containing information regarding the account of the Agent Member
to be credited with, and the account of the Agent Member or, if such account is held for Euroclear or Clearstream, the Euroclear
or Clearstream account, as the case may be, to be debited for, such beneficial interest, and (3) with respect to a transfer of
a beneficial interest in a Regulation S Global Certificate for a beneficial interest in the related Rule 144A Global Certificate
(i) during the Restricted Period, a certificate in the form of Exhibit J to this Agreement given by the holder
of such beneficial interest or (ii) after the Restricted Period, an Investment Representation Letter from the transferee to
the effect that such transferee is a Qualified Institutional Buyer, the Certificate Registrar shall instruct the Depository or
the Certificate Custodian, as applicable, to reduce the Denomination of the Regulation S Global Certificate by the aggregate Denomination
of the beneficial interest in the Regulation S Global Certificate to

 

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be transferred, and, concurrently with such reduction, to
increase the Denomination of the Rule 144A Global Certificate by the aggregate Denomination of the beneficial interest in
the Regulation S Global Certificate to be so transferred, and to credit or cause to be credited to the account of the Person specified
in such instructions a beneficial interest in such Rule 144A Global Certificate having a Denomination equal to the amount
by which the Denomination of the Regulation S Global Certificate was reduced upon such transfer.

 

(iii)          Transfers
from the Global Certificates to Individual Certificates. Any and all transfers from a Global Certificate to a transferee wishing
to take delivery in the form of an Individual Certificate will require the transferee to take delivery subject to the restrictions
on the transfer of such Individual Certificate described in a legend set forth on the face of such Certificate substantially in
the form of Exhibit F to this Agreement (the “Securities Legend”), and such transferee agrees that
it will transfer such Individual Certificate only as provided therein and herein. No such transfer shall be made and the Certificate
Registrar shall not register any such transfer unless such transfer is made in accordance with this Section 5.02(c)(iii).

 

(A)         Transfers
of a beneficial interest in a Global Certificate to an Institutional Accredited Investor (other than a Qualified Institutional
Buyer) will require delivery in the form of an Individual Certificate and the Certificate Registrar shall register such transfer
only upon compliance with the provisions of Section 5.02(c)(i)(A) of this Agreement.

 

(B)         Transfers
of a beneficial interest in a Global Certificate to a Qualified Institutional Buyer or a Regulation S Investor wishing to take
delivery in the form of an Individual Certificate will be registered by the Certificate Registrar only upon compliance with the
provisions of Section 5.02(c)(i)(A) and (B) of this Agreement, respectively.

 

(C)         Notwithstanding
the foregoing, no transfer of a beneficial interest in a Regulation S Global Certificate to an Individual Certificate pursuant
to subparagraph (B) above shall be made prior to the expiration of the Restricted Period.

 

Upon acceptance for exchange or transfer
of a beneficial interest in a Global Certificate for an Individual Certificate, as provided herein, the Certificate Registrar shall
endorse on the schedule affixed to the related Global Certificate (or on a continuation of such schedule affixed to such Global
Certificate and made a part thereof) an appropriate notation evidencing the date of such exchange or transfer and a decrease in
the Denomination of such Global Certificate equal to the Denomination of such Individual Certificate issued in exchange therefor
or upon transfer thereof. Unless determined otherwise by the Certificate Registrar and the Depositor in accordance with applicable
law, an Individual Certificate issued upon transfer of or exchange for a beneficial interest in the Global Certificate shall bear
the Securities Legend.

 

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(iv)          Transfers
of Individual Certificates to the Global Certificates. If a Holder of an Individual Certificate wishes at any time to transfer
such Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related Regulation
S Global Certificate or the related Rule 144A Global Certificate, such transfer may be effected only in accordance with the
Applicable Procedures and this Section 5.02(c)(iv). Upon receipt by the Certificate Registrar at the Corporate Trust Office
of (l) the Individual Certificate to be transferred with an assignment and transfer pursuant to Section 5.05(a) of this
Agreement, (2) written instructions given in accordance with the Applicable Procedures from an Agent Member directing the
Certificate Registrar to credit or cause to be credited to a specified Agent Member’s account a beneficial interest in such
Regulation S Global Certificate or such Rule 144A Global Certificate, as the case may be, in an amount equal to the Denomination
of the Individual Certificate to be so transferred, (3) a written order given in accordance with the Applicable Procedures
containing information regarding the account of the Agent Member and, in the case of any transfer pursuant to Regulation S, the
Euroclear or Clearstream account, as the case may be, to be credited with such beneficial interest, and (4) (x) an Investment
Representation Letter from the transferee and, if delivery is to be taken in the form of a beneficial interest in the Regulation
S Global Certificate, a Regulation S Transfer Certificate from the transferor or (y) an Investment Representation Letter from
the transferee to the effect that such transferee is a Qualified Institutional Buyer if delivery is to be taken in the form of
a beneficial interest in the Rule 144A Global Certificate, the Certificate Registrar shall cancel such Individual Certificate,
execute and deliver a new Individual Certificate for the Denomination of the Individual Certificate not so transferred, registered
in the name of the Holder or the Holder’s transferee (as instructed by the Holder), and the Certificate Registrar shall instruct
the Depository or the Certificate Custodian, as applicable, to increase the Denomination of the Regulation S Global Certificate
or the Rule 144A Global Certificate, as the case may be, by the Denomination of the Individual Certificate to be so transferred,
and to credit or cause to be credited to the account of the Person specified in such instructions who, in the case of any increase
in the Regulation S Global Certificate during the Restricted Period, shall be an Agent Member acting for or on behalf of Euroclear
or Clearstream, or both, as the case may be, a corresponding Denomination of the Rule 144A Global Certificate or the Regulation
S Global Certificate, as the case may be.

 

It is the intent of the foregoing
that under no circumstances may an Institutional Accredited Investor that is not a Qualified Institutional Buyer take delivery
in the form of a beneficial interest in a Rule 144A Global Certificate.

 

(v)          All
Transfers. An exchange of a beneficial interest in a Global Certificate for an Individual Certificate or Certificates, an exchange
of an Individual Certificate or Certificates for a beneficial interest in a Global Certificate and an exchange of an Individual
Certificate or Certificates for another Individual Certificate or Certificates (in each case, whether or not such exchange is made
in anticipation of subsequent transfer, and, in the case of the Global Certificates, so long as the Global Certificates remain
outstanding and are held by or on behalf of the Depository), may be made only in accordance with this Section 5.02 and in
accordance with the rules of the Depository and Applicable Procedures.

 

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(d)          If
Certificates are issued upon the transfer, exchange or replacement of Certificates not bearing the Securities Legend, the Certificates
so issued shall not bear the Securities Legend. If Certificates are issued upon the transfer, exchange or replacement of Certificates
bearing the Securities Legend, or if a request is made to remove the Securities Legend on a Certificate, the Certificates so issued
shall bear the Securities Legend, or the Securities Legend shall not be removed, as the case may be, unless there is delivered
to the Certificate Registrar such satisfactory evidence, which may include an opinion of counsel (at the expense of the party requesting
the removal of such legend) familiar with United States securities laws, as may be reasonably required by the Certificate
Registrar, that neither the Securities Legend nor the restrictions on transfers set forth therein are required to ensure that transfers
of any Certificate comply with the provisions of Rule 144A or Rule 144 under the Act or that such Certificate is not a “restricted
security” within the meaning of Rule 144 under the Act. Upon provision of such satisfactory evidence, the Certificate Registrar
shall execute and deliver a Certificate that does not bear the Securities Legend.

 

(e)           Subject
to the restrictions on transfer and exchange set forth in Section 5.01(i) and in this Section 5.02, the Holder of
any Individual Certificate may transfer or exchange the same in whole or in part (with a denomination equal to any authorized denomination)
by surrendering such Certificate at the office of the Certificate Administrator or at the office of any transfer agent appointed
as provided under this Agreement, together with an instrument of assignment or transfer (executed by the Holder or its duly authorized
attorney), in the case of transfer, and a written request for exchange, in the case of exchange. Following a proper request for
transfer or exchange, the Certificate Registrar shall, within five (5) Business Days of such request if made at such office of
the Certificate Registrar or within ten (10) Business Days if made at the office of a transfer agent (other than the Certificate
Registrar), execute and deliver at the office of the Certificate Registrar or at the office of such transfer agent, as the case
may be, to the transferee (in the case of transfer) or Holder (in the case of exchange) or send by first-class mail (at the risk
of the transferee in the case of transfer or Holder in the case of exchange) to such address as the transferee or Holder, as applicable,
may request, an Individual Certificate or Certificates, as the case may require, for a like aggregate Denomination and in such
Denomination or Denominations as may be requested. The presentation for transfer or exchange of any Individual Certificate shall
not be valid unless made at the office of the Certificate Registrar or at the office of a transfer agent by the registered Holder
in person, or by a duly authorized attorney-in-fact. The Certificate Registrar may decline to accept any request for an exchange
or registration of transfer of any Certificate during the period of 15 days preceding any Distribution Date.

 

(f)           An
Individual Certificate (other than an Individual Certificate issued in exchange for a beneficial interest in a Global Certificate
pursuant to Section 5.01 of this Agreement) or a beneficial interest in a Global Certificate may only be transferred to
Eligible Investors or Regulation S Investors, as described herein. In the event that a Responsible Officer of the Certificate Registrar
has actual knowledge that such an Individual Certificate or beneficial interest in a Global Certificate is being held by or for
the benefit of a Person who is not an Eligible Investor, or that such holding is unlawful under the laws of a relevant jurisdiction,
then the Certificate Registrar shall have the right to void such transfer, if permitted under applicable law, or to require the
investor to sell such Individual Certificate or beneficial interest in a Global Certificate to an Eligible Investor within fourteen
days after notice of such determination and

 

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each Certificateholder by its acceptance of a Certificate authorizes the Certificate
Registrar to take such action.

 

(g)           Subject
to the provisions of this Section 5.02 regarding transfer and exchange, transfers of the Global Certificates shall be limited
to transfers of such Global Certificates in whole, but not in part, to nominees of the Depository or to a successor of the Depository
or such successor’s nominee.

 

(h)           No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in this Section 5.02 other than for transfers to Institutional Accredited Investors that are not
Qualified Institutional Buyers, as provided herein. In connection with any transfer to an Institutional Accredited Investor, the
transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
herein) incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar may require payment by
each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such
transfer.

 

(i)            Subject
to Section 5.02(e) of this Agreement, transfers of the Class R and Class LR Certificates may be made only in accordance
with this Section 5.02(i). The Certificate Registrar shall register the transfer of a Class R or Class LR Certificate
only if (x) the transferor has advised the Certificate Registrar in writing that such Certificate is being transferred to
a Qualified Institutional Buyer or an Affiliated Person and (y) prior to such transfer the transferee furnishes to the Certificate
Registrar an Investment Representation Letter. In addition, the Certificate Registrar may as a condition of the registration of
any such transfer require the transferor to furnish such other certifications, legal opinions or other information (at the transferor’s
expense) as it may reasonably require to confirm that the proposed transfer is being made pursuant to an exemption from, or in
a transaction not subject to, the registration requirements of the Act and other applicable laws.

 

(j)            No
transfer, sale, pledge or other disposition of any Certificate or interest therein shall be made unless that transfer, sale, pledge
or other disposition is exempt from the registration and/or qualification requirements of the Act and any applicable state securities
laws, or is otherwise made in accordance with the Act and such state securities laws. Neither the Depositor, the Master Servicer,
the Special Servicer, the Certificate Administrator, the Trustee nor the Certificate Registrar are obligated to register or qualify
the Certificates under the Act or any other securities law or to take any action not otherwise required under this Agreement to
permit the transfer of such Certificates without registration or qualification. Any Certificateholder desiring to affect such a
transfer shall, and does hereby agree to, indemnify the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee, the Initial Purchasers and the Certificate Registrar, against any loss, liability or expense that may result if the
transfer is not so exempt or is not made in accordance with such federal and state laws.

 

(k)           No
transfer of any Class R or Class LR Certificate (each, a “Restricted Certificate”) shall be made to
(i) an employee benefit plan subject to the fiduciary responsibility provisions of ERISA, or Section 4975 of the Code,
or a governmental plan, as defined in

 

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Section 3(32) of ERISA, or other plan subject to any federal, state or local law (“Similar
Law”) which is to a material extent similar to the foregoing provisions of ERISA or the Code (each, a “Plan”)
or (ii) a collective investment fund in which a Plan is invested, an insurance company that is using the assets of any insurance
company separate account or general account in which the assets of any such Plan are invested (or which are deemed pursuant to
ERISA or any Similar Law to include assets of Plans) to acquire any such Restricted Certificate or any other Person acting on behalf
of any Plan or using the assets of any Plan to acquire any such Restricted Certificate. Each prospective transferee of a Restricted
Certificate (other than in the case of the initial transfer from the Initial Purchasers to an initial investor) shall deliver to
the Depositor, the Certificate Registrar and the Certificate Administrator, a transfer or representation letter, substantially
in the form of Exhibit D-2 to this Agreement, stating that the prospective transferee is not and will not become a
Person referred to in (i) or (ii) above. None of the Certificate Administrator or the Certificate Registrar shall register a Class R
or Class LR Certificate in any Person’s name unless such Person has provided the letter referred to in clause (A) of
the preceding sentence. Each beneficial owner of a Certificate (other than a Class R or Class LR Certificate) or any interest therein
will be deemed to have represented, by virtue of its acquisition or holding of such Certificate or interest therein, that (i) it
is not a Plan and is not acting on behalf of or using the assets of a Plan to purchase the Certificates, (ii) in the case of a
Certificate that meets the rating requirements of the Underwriter Exemption at the time of purchase, that (w) it has acquired and
is holding such Certificate or an interest therein in reliance on the Underwriter Exemption, (or, in the case of a Plan subject
to Similar Law, its acquisition, holding and disposition of the Certificate will not result in a non-exempt violation of Similar
Law), (x) its acquisition, holding and disposition of the ERISA Eligible Certificate or interest therein will not constitute or
result in a non-exempt violation of Section 406 of ERISA or Section 4975 of the Code (or, in the case of a Plan subject to Similar
Law, will not result in a non-exempt violation of Similar Law) and (y) it is an “accredited investor” as defined in
Rule 501(a)(1) of Regulation D, or (iii) it is an insurance company general account and all requirements of Sections I and III
of PTCE 95-60 will be met with respect to its acquisition, holding and disposition of the Certificates (or, in the case of a Plan
subject to Similar Law, that its acquisition, holding and disposition of the Certificates will not result in a non-exempt violation
of Similar Law). Any transfer of a Certificate that would violate these restrictions or result in a non-exempt prohibited transaction
under ERISA or Section 4975 of the Code or Similar Law shall be deemed absolutely null and void ab initio.

 

(l)            Each
Person who has or acquires any Ownership Interest shall be deemed by the acceptance or acquisition of such Ownership Interest to
have agreed to be bound by the following provisions and the rights of each Person acquiring any Ownership Interest are expressly
subject to the following provisions:

 

(i)            Each
Person acquiring or holding any Ownership Interest shall be a Permitted Transferee and shall not acquire or hold such Ownership
Interest as agent (including a broker, nominee or other middleman) on behalf of any Person that is not a Permitted Transferee.
Any such Person shall promptly notify the Certificate Registrar of any change or impending change in its status (or the status
of the beneficial owner of such Ownership Interest) as a Permitted Transferee. Any acquisition described in the first sentence
of this Section 5.02(l) by a Person who is not a Permitted Transferee or by a Person who is acting as an agent of a Person
who is not a Permitted Transferee shall be

 

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void and of no effect, and the immediately preceding owner who was a Permitted Transferee
shall be restored to registered and beneficial ownership of the Ownership Interest as fully as possible.

 

(ii)           No
Ownership Interest may be Transferred, and no such Transfer shall be registered in the Certificate Register, without the express
written consent of the Certificate Registrar (such consent not to be unreasonably withheld), and the Certificate Registrar shall
not recognize the Transfer, and such proposed Transfer shall not be effective, without such consent with respect thereto. In connection
with any proposed Transfer of any Ownership Interest, the Certificate Registrar shall, as a condition to such consent, (x) require
delivery to it in form and substance satisfactory to it, and the proposed transferee shall deliver to the Certificate Registrar
and to the proposed transferor an affidavit in substantially the form attached as Exhibit C-1 (a “Transferee
Affidavit”) of the proposed transferee (A) that such proposed transferee is a Permitted Transferee and (B) stating
that (i) the proposed transferee historically has paid its debts as they have come due and intends to do so in the future,
(ii) the proposed transferee understands that, as the holder of an Ownership Interest, it may incur liabilities in excess
of cash flows generated by the residual interest, (iii) the proposed transferee intends to pay taxes associated with holding
the Ownership Interest as they become due, (iv) the proposed transferee will not transfer the Ownership Interest to any Person
that does not provide a Transferee Affidavit or as to which the proposed transferee has actual knowledge that such Person is not
a Permitted Transferee or is acting as an agent (including a broker, nominee or other middleman) for a Person that is not a Permitted
Transferee, (v) the proposed transferee will not cause income from the Class R or Class LR Certificate to be attributable
to a foreign permanent establishment or fixed base, within the meaning of an applicable income tax treaty, of the proposed transferee
or any other U.S. Person and (vi) the proposed transferee expressly agrees to be bound by and to abide by the provisions of
this Section 5.02(l) and (y) other than in connection with the initial issuance of the Class R and Class LR
Certificates, require a statement from the proposed transferor substantially in the form attached as Exhibit C-2 (the
“Transferor Certificate”), that the proposed transferor has no actual knowledge that the proposed transferee
is not a Permitted Transferee and has no actual knowledge or reason to know that the proposed transferee’s statements in
the Transferee Affidavit are false.

 

(iii)          Notwithstanding
the delivery of a Transferee Affidavit by a proposed transferee under clause (ii) above, if a Responsible Officer of
the Certificate Registrar has actual knowledge that the proposed transferee is not a Permitted Transferee, no Transfer to such
proposed transferee shall be effected and such proposed Transfer shall not be registered on the Certificate Register; provided,
however, that the Certificate Registrar shall not be required to conduct any independent investigation to determine whether
a proposed transferee is a Permitted Transferee.

 

Neither the Certificate Administrator
nor the Certificate Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance with any restriction
or transfer imposed under Article V of this Agreement or under applicable law with respect to any transfer of any Certificate
(including, without limitation, the Securities Legend), or any interest therein, other than to require delivery of the certification(s)
and/or opinions of counsel described

 

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in Article V applicable with respect to changes in registration of record ownership of
Certificates in the Certificate Register. The Certificate Administrator and the Certificate Registrar shall have no liability for
transfers, including transfers made through the book-entry facilities of the Depository or between or among Depository Participants
or Beneficial Owners made in violation of applicable restrictions.

 

Upon written notice to the
Certificate Registrar, or upon the Certificate Registrar having actual knowledge, that there has occurred a Transfer of an Ownership
Interest to any Person that is a Disqualified Organization or an agent thereof (including a broker, nominee, or middleman) in contravention
of the foregoing restrictions, and in any event not later than 60 days after a request for information from the transferor of such
Ownership Interest, or such agent, the Certificate Registrar and the Certificate Administrator agree to furnish to the IRS and
the transferor of such Ownership Interest or such agent such information necessary to the application of Section 860E(e) of
the Code as may be required by the Code, including, but not limited to, the present value of the total anticipated excess inclusions
with respect to such Class R or Class LR Certificate (or portion thereof) for periods after such Transfer. At the election
of the Certificate Registrar and the Certificate Administrator, the Certificate Registrar and the Certificate Administrator may
charge a reasonable fee for computing and furnishing such information to the transferor or to such agent referred to above; provided,
however, that such Persons shall in no event be excused from furnishing such information.

 

Section
5.03 Mutilated, Destroyed, Lost or Stolen Certificates. If
(i) any mutilated Certificate is surrendered to the Certificate Registrar, or the Certificate Registrar receives
evidence to its satisfaction of the destruction, loss or theft of any Certificate, and (ii) there is delivered to the
Certificate Registrar such security or indemnity as may be required by it to save it and the Certificate
Administrator harmless, then, in the absence of actual knowledge by a Responsible Officer of the Certificate Registrar that
such Certificate has been acquired by a bona fide purchaser, the Certificate Administrator or the Authenticating Agent shall
execute and authenticate and the Certificate Registrar shall deliver, in exchange for or in lieu of any such mutilated,
destroyed, lost or stolen Certificate, a new Certificate of the same Class and of like tenor and Percentage Interest. Upon
the issuance of any new Certificate under this Section 5.03, the Certificate Registrar may require the payment of a
sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses
(including the fees and expenses of the Certificate Registrar) connected therewith. Any replacement Certificate issued
pursuant to this Section 5.03 shall constitute complete and indefeasible evidence of ownership of the corresponding
interest in the Trust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found
at any time.

 

Section 5.04 Appointment
of Paying Agent. The Certificate Administrator may appoint a paying agent for the purpose of making distributions to
Certificateholders pursuant to Section 4.01 of this Agreement. The Certificate Administrator shall cause such Paying Agent,
if other than the Certificate Administrator, the Trustee or the Master Servicer, to execute and deliver to the Master Servicer
and the Trustee an instrument in which such Paying Agent shall agree with the Master Servicer and the Trustee that such Paying
Agent will hold all sums held by it for the payment to Certificateholders in trust for the benefit of the Certificateholders entitled
thereto until such sums have been paid to the Certificateholders or disposed of as otherwise

 

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provided herein. The initial Paying Agent shall be the Certificate Administrator. Except for the Certificate
Administrator, as the initial Paying Agent, the Paying Agent shall at all times be an entity having a long-term unsecured debt
rating of at least “A” by S&P or shall be the subject of a No Downgrade Confirmation from each Rating Agency.

 

Section 5.05 Access
to Certificateholders’ Names and Addresses; Special Notices. (a)  If any Certifying Certificateholder
(for purposes of this Section 5.05, an “Applicant”) applies in writing to the Certificate Registrar,
and such application states that the Applicant desires to communicate with other Certificateholders, the Certificate Registrar
shall furnish or cause to be furnished to such Applicant a list of the names and addresses of the Certificateholders as of the
most recent Record Date, at the expense of the Applicant.

 

(b)         Every
Certificateholder, by receiving and holding its Certificate, agrees with the Certificate Administrator and the Certificate Registrar
that the Certificate Administrator and the Certificate Registrar shall not be held accountable in any way by reason of the disclosure
of any information as to the names and addresses of the Certificateholders hereunder, regardless of the source from which such
information was derived.

 

(c)         Upon
the written request of any Certifying Certificateholder that (a) states that such Certificateholder desires the Certificate
Administrator to transmit a notice to all Certificateholders stating that such Certificateholder wishes to be contacted by other
Certificateholders, setting forth the relevant contact information and briefly stating the reason for the requested contact and
(b) provides a copy of the Special Notice which such Certificateholder proposes to transmit, the Certificate Administrator
shall deliver such Special Notice to all Certificateholders at their respective addresses appearing on the Certificate Register.
The costs and expenses of the Certificate Administrator associated with delivering with any such Special Notice shall be borne
by the party requesting such Special Notice. Every Certificateholder, by receiving and holding a Certificate, agrees that neither
the Certificate Administrator nor the Certificate Registrar shall be held accountable by reason of the disclosure of any such Special
Notice to Certificateholders, regardless of the information set forth in such Special Notice.

 

Section
5.06 Actions of Certificateholders. (a)  Any request,
demand, authorization, direction, notice, consent, waiver or other action provided by this Agreement to be given or taken by
Certificateholders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such
Certificateholders in person or by agent duly appointed in writing; and except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments are delivered to the Certificate Administrator and the
Trustee and, when required, to the Master Servicer. Proof of execution of any such instrument or of a writing appointing any
such agent shall be sufficient for any purpose of this Agreement and conclusive in favor of the Certificate Administrator,
the Trustee and the Master Servicer, if made in the manner provided in this Section.

 

(b)         The
fact and date of the execution by any Certificateholder of any such instrument or writing may be proved in any reasonable manner
which the Certificate Administrator or the Trustee deems sufficient.

 

(c)         Any
request, demand, authorization, direction, notice, consent, waiver or other act by a Certificateholder shall bind every Holder
of every Certificate issued upon the

 

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registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of
anything done, or omitted to be done, by the Certificate Administrator or the Trustee or the Master Servicer in reliance thereon,
whether or not notation of such action is made upon such Certificate.

 

(d)         The
Certificate Administrator, the Trustee or Certificate Registrar may require such additional proof of any matter referred to in
this Section 5.06 as it shall deem necessary.

 

Section
5.07         Rule 144A Information. (a) The Certificate Administrator
shall, upon request of any Certifying Certificateholder that is a Holder of a Certificate or any beneficial owner of a
Certificate, furnish to such Holder or beneficial owner, or to a prospective purchaser that is designated by such Holder or
beneficial owner and that is a Qualified Institutional Buyer, the information required to be delivered under Rule 144A(d)(4)
under the Act, to the extent such information has been provided to the Certificate Administrator and has been identified as
Rule 144A information by the Depositor (which shall include all information on the Certificate Administrator’s Website
and all information currently required to be made available to Certificateholders, as well as any other specifically
identified information herein).

 

ARTICLE
VI

THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICER AND THE DIRECTING HOLDER

 

Section 6.01 Liability
of the Depositor, the Master Servicer and the Special Servicer.

 

The Depositor, the Master
Servicer and the Special Servicer each shall be liable in accordance herewith only to the extent of the obligations specifically
imposed by this Agreement.

 

Section 6.02 Merger
or Consolidation of either the Master Servicer, the Special Servicer or the Depositor. Subject to the following paragraph,
each of the Master Servicer and the Special Servicer will keep in full effect its existence, rights and good standing as a national
banking association under the laws of the United States of America or corporation organized under the laws of the State of Nebraska,
as applicable, and will not jeopardize its ability to do business in the jurisdiction in which the Mortgaged Property securing
the Trust Loan is located or to protect the validity and enforceability of this Agreement, the Certificates or the Trust Loan
and to perform its respective duties under this Agreement.

 

Each of the Master Servicer,
the Special Servicer or the Depositor may be merged or consolidated with or into any Person, or transfer all or substantially all
of its assets to any Person, in which case any Person into which the Master Servicer, the Special Servicer or the Depositor may
be merged or consolidated, or any Person resulting from any merger or consolidation to which the Master Servicer, the Special Servicer
or the Depositor is a party, or any Person succeeding to the business of the Master Servicer, the Special Servicer or the Depositor,
shall be the successor of the Master Servicer, the Special Servicer or the Depositor, as

 

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applicable, hereunder, and shall be deemed
to have assumed all of the liabilities of the Master Servicer, the Special Servicer or the Depositor, as applicable, hereunder,
without the consent of any other party to this Agreement if each of the Rating Agencies has provided a No Downgrade Confirmation
relating to the Certificates and Companion Loan Securities; provided, however, that no Rating Agency shall be required
to provide a No Downgrade Confirmation if the Master Servicer, the Special Servicer or the Depositor is merged into or consolidated
with a Qualified Affiliate or transfers all or substantially all of its assets to a Qualified Affiliate; provided, further,
that if Master Servicer or the Special Servicer enters into a merger and the Master Servicer or the Special Servicer, as applicable,
is the surviving entity under the applicable law, the Master Servicer or the Special Servicer, as applicable, shall not, as a result
of the merger, be required to provide a No Downgrade Confirmation or obtain the consent of the Depositor. Notwithstanding the foregoing,
no Master Servicer or Special Servicer may remain the Master Servicer or Special Servicer under this Agreement after (x) being
merged or consolidated with or into any Person that is a Prohibited Party, or (y) transferring all or substantially all of
its assets to any Person if such Person is a Prohibited Party, except to the extent (i) the Master Servicer or the Special
Servicer is the surviving entity of such merger, consolidation or transfer and has been and continues to be in compliance with
its Regulation AB reporting obligations hereunder or (ii) the Depositor consents to such merger, consolidation or transfer,
which consent shall not be unreasonably withheld.

 

Section
6.03 Limitation on Liability of the Depositor, the Master Servicer
and Others. (a)  None of the Depositor, the Master Servicer, the Special Servicer or any Affiliates, directors,
officers, employees, shareholders, members, managers or agents (including sub-servicers) of the Depositor, the Master
Servicer or the Special Servicer shall be under any liability to the Trust Fund, the Certificateholders, the Companion Loan
Holders or any third party beneficiary for any action taken, or for refraining from the taking of any action, in good faith
pursuant to this Agreement, or for errors in judgment; provided, however, that this provision shall not protect
the Depositor, the Master Servicer or the Special Servicer, or any member, manager, director, officer, employee,
shareholder or agent (including sub-servicers) of the Depositor, the Master Servicer or the Special Servicer, against any
breach of warranties or representations made herein, or against any liability which would otherwise be imposed by reason of
willful misconduct, bad faith, fraud or negligence (or in the case of the Master Servicer or Special Servicer, by reason of
any specific liability imposed hereunder for a breach of the Servicing Standard) in the performance of duties or by reason of
negligent disregard of obligations or duties hereunder. The Depositor, the Master Servicer, the Special Servicer and any
Affiliate, member, manager, shareholder, director, officer, employee or agent of the Depositor, the Master Servicer or the
Special Servicer may rely in good faith on any document of any kind which, prima facie, is properly executed and
submitted by any appropriate Person respecting any matters arising hereunder. In addition, in no event shall the Depositor be
obligated to cause any party to perform or comply with the obligations to remit the CREFC® License Fee to
CREFC®, to report any such CREFC® License Fee so paid or to make available any Distribution
Date Statement to any party (or in particular, CREFC®).

 

The Trust Fund and each Companion
Loan Holder shall be indemnified and held harmless by each of the Master Servicer and the Special Servicer (severally and not jointly)
for any loss, liability or expense (including legal fees and expenses) incurred in connection with any claim, loss, penalty, fine,
foreclosure, judgment or liability relating to this Agreement or the

 

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Certificates, incurred by the Trust Fund or any Companion
Loan Holder, as applicable, by reason of willful misconduct, bad faith, fraud or negligence in the performance of duties hereunder,
or by reason of negligent disregard of obligations and duties thereunder, on the part of such indemnifying party.

 

The Depositor, the Master
Servicer, the Special Servicer and any Affiliate, director, officer, employee, shareholder, member, manager or agent of the Depositor,
the Master Servicer and the Special Servicer shall be indemnified and held harmless by the Trust Fund for any loss, liability or
expense (including legal fees and expenses) incurred in connection with any claim, loss, penalty, fine, foreclosure, judgment,
liability or legal action relating to this Agreement or the Certificates, other than any loss, liability or expense (including
legal fees and expenses) (i) incurred by reason of such party’s willful misconduct, bad faith, fraud or negligence in
the performance of duties hereunder or by reason of its negligent disregard of obligations and duties thereunder or (ii) in
the case of the Depositor and any of its directors, officers, members, managers, employees, shareholders and agents, incurred in
connection with any violation by any of them of any state or federal securities law; provided that such indemnified parties
shall be paid out of the Collection Account (in accordance with Section 3.06(a) of this Agreement), provided that
the Master Servicer shall, after receiving payment from amounts on deposit in the Collection Account, promptly notify the Companion
Loan Holders and use efforts consistent with the Servicing Standard to exercise on behalf of the Trust any rights under the Co-Lender
Agreement to obtain reimbursement for a pro rata portion of such amount allocable to each Companion Loan from the related
Companion Loan Holder.

 

(b)         None
of the Depositor, the Master Servicer or the Special Servicer shall be under any obligation to appear in, prosecute or defend any
legal action, unless such action relates to its respective duties under this Agreement and which in its opinion does not expose
it to any expense or liability not recoverable from the Trust Fund; provided, however, that each of the Depositor,
the Master Servicer or the Special Servicer may in its discretion undertake any such action that it may deem necessary or desirable
in respect to this Agreement and the rights and duties of the parties hereto and the interests of the Certificateholders and Companion
Loan Securities hereunder. In such event, the legal expenses and costs of such action and any liability resulting therefrom shall
be expenses, costs and liabilities of the Trust Fund, and the Depositor, the Master Servicer and the Special Servicer shall be
entitled to be reimbursed therefor from the Collection Account (in accordance with Section 3.06(a) of this Agreement) no
later than 60 days after submitting such expenses or costs for reimbursement, provided that a failure to reimburse such
parties within such 60 days will not affect or limit such parties’ rights to receive reimbursement hereunder; provided
that such amounts shall be allocated in accordance with the expense allocation provision of the Co-Lender Agreement.

 

(c)         The
terms of this Section 6.03 shall survive the termination of any party hereto or of this Agreement.

 

Section
6.04 Limitation on Resignation of the Master Servicer and the Special
Servicer; Termination of the Master Servicer and the Special Servicer. (a)  Each of the Master Servicer and the
Special Servicer may assign their respective rights and delegate their respective duties and obligations under this
Agreement, provided that: (i) the party accepting such assignment and delegation (A) shall be an
established mortgage finance institution, bank or mortgage servicing institution, organized and doing business under the laws
of the United States

 

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of America, any state of the United States of America or the District of Columbia, authorized under such
laws to perform the duties of the Master Servicer or Special Servicer or a Person resulting from a merger, consolidation or
succession that is permitted under Section 6.02 of this Agreement, (B) shall be acceptable to each Rating Agency
as confirmed in a No Downgrade Confirmation delivered to the Trustee and the Certificate Administrator relating to the
Certificates and Companion Loan Securities, if any, (C) shall execute and deliver to the Trustee and the Certificate
Administrator an agreement that contains an assumption by such Person of the due and punctual performance and observance of
each covenant and condition to be performed or observed by the Master Servicer or Special Servicer, as applicable under this
Agreement from and after the date of such agreement, (D) shall not be a Prohibited Party and (E) with respect to the
Special Servicer (x) during any Subordinate Control Period, has been appointed by the Directing Holder or (y) during any
Subordinate Consultation Period, is reasonably acceptable to the Directing Holder and the Depositor; (ii) the Master
Servicer or the Special Servicer shall not be released from its obligations under this Agreement that arose prior to the
effective date of such assignment and delegation under this Section 6.04; (iii) the rate at which the Servicing
Compensation or Special Servicing Compensation, as applicable (or any component thereof) is calculated shall not exceed the
rate then in effect; and (iv) the resigning Master Servicer or Special Servicer shall be responsible for the reasonable costs
and expenses of each other party hereto and the Rating Agencies in connection with such transfer. Upon acceptance of such
assignment and delegation, the purchaser or transferee shall be the successor Master Servicer or Special Servicer, as
applicable, hereunder.

 

(b)         Except
as provided in Section 6.02 of this Agreement and this Section 6.04, the Master Servicer and the Special Servicer
shall not resign from its respective obligations and duties hereby imposed on it except upon either (i) the determination that
such duties hereunder are no longer permissible under applicable law or (ii) in connection with the assignment of rights and delegation
of duties as set forth in Section 6.04(a). Any such determination described in clause (i) above permitting the resignation
of the Master Servicer or the Special Servicer, as applicable, shall be evidenced by an Opinion of Counsel (obtained at the resigning
Master Servicer’s or Special Servicer’s expense) to such effect delivered to the Trustee, the Certificate Administrator
and during any Subordinate Control Period and any Subordinate Consultation Period, the Directing Holder. In connection with any
such resignation, the successor special servicer shall either: (i) during any Subordinate Control Period, be appointed by the Directing
Holder in accordance with the first paragraph of Section 7.01(c); or (ii) after termination of any Subordinate Control Period,
be appointed by the Trustee and, during any Subordinate Consultation Period, be reasonably acceptable to the Directing Holder,
and otherwise satisfy the requirements for a successor special servicer set forth in Section 6.04; provided that in either
case the Trustee shall have obtained a No Downgrade Confirmation from each Rating Agency.

 

(c)         The
Trustee shall be permitted to remove the Master Servicer or the Special Servicer upon a Master Servicer Termination Event or Special
Servicer Termination Event, as applicable. Without limiting the generality of the succeeding paragraph, no such removal shall be
effective unless and until (i) the Master Servicer or the Special Servicer has been paid any unpaid Servicing Compensation
or Special Servicing Compensation, as applicable, unreimbursed Advances (including Advance Interest Amounts thereon to which it
is entitled) and all other amounts to which the Master Servicer or the Special Servicer is entitled hereunder to the

 

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extent such
amounts accrue prior to such effective date and (ii) with respect to a resignation by the Master Servicer, the successor Master
Servicer has deposited into the Investment Accounts from which amounts were withdrawn to reimburse the terminated Master Servicer,
an amount equal to the amounts so withdrawn, to the extent such amounts would not have been permitted to be withdrawn except pursuant
to this paragraph, in which case the successor Master Servicer shall, immediately upon deposit, have the same right of reimbursement
or payment as the terminated Master Servicer had immediately prior to its termination without regard to the operation of this paragraph.

 

No resignation or removal
of the Master Servicer or the Special Servicer as contemplated by the preceding paragraphs shall become effective until the Trustee
or a successor Master Servicer or Special Servicer shall have assumed the resigning or terminated Master Servicer’s or the
Special Servicer’s responsibilities, duties, liabilities and obligations hereunder. If no successor Master Servicer or Special
Servicer can be obtained to perform such obligations for the same compensation to which the terminated Master Servicer or Special
Servicer would have been entitled, additional amounts payable to such successor Master Servicer or Special Servicer shall be treated
as Realized Losses.

 

Section
6.05 Rights of the Depositor and the Trustee in Respect of the Master
Servicer and the Special Servicer. Solely with respect to their performance of their respective duties under this
Agreement, the Master Servicer and the Special Servicer shall afford the Depositor, the Initial Purchasers, the Certificate
Administrator, the Trustee and the Rating Agencies, upon reasonable notice, during normal business hours access to all
records maintained by it in respect of its rights and obligations hereunder and access to its officers responsible for such
obligations. Upon written request, the Master Servicer and/or the Special Servicer, as applicable, shall furnish to the
Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee its most recent publicly
available financial statements (or, with respect to the Master Servicer, those of its ultimate parent) and such
other non-proprietary information as the Master Servicer or the Special Servicer, as the case may be, shall determine in its
sole and absolute discretion as it possesses, which is relevant to the performance of its duties hereunder and which it is
not prohibited by applicable law or contract from disclosing. The Depositor may, but is not obligated to, enforce the
obligations of the Master Servicer or the Special Servicer hereunder which are in default and may, but is not obligated to,
perform, or cause a designee to perform, any defaulted obligation of such Person hereunder or exercise any rights of such
Person hereunder, provided that the Master Servicer and the Special Servicer shall not be relieved of any of its
obligations hereunder by virtue of such performance by the Depositor or its designee. In the event the Depositor or its
designee undertakes any such action, it will be reimbursed by the Trust Fund from the Collection Account, as provided in Section
3.06 and Section 6.03(a) hereof to the extent not recoverable from the Master Servicer or Special Servicer, as
applicable. None of the Depositor, the Certificate Administrator, the Trustee, the Master Servicer (solely with respect to
any action or failure to act by the Special Servicer) or the Special Servicer (solely with respect to any action or failure
to act by the Master Servicer), shall have any responsibility or liability for any action or failure to act by the Master
Servicer or the Special Servicer and no such party is obligated to monitor or supervise the performance of the Master
Servicer or the Special Servicer under this Agreement or otherwise. Neither the Master Servicer nor the Special Servicer
shall be under any obligation to disclose confidential or proprietary information pursuant to this Section.

 

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Section
6.06 The Master Servicer or Special Servicer as Owners of a
Certificate. The Master Servicer or an Affiliate of the Master Servicer, or the Special Servicer or an Affiliate of the
Special Servicer, may become the Holder (or with respect to a Global Certificate, Beneficial Owner) of any Certificate with
the same rights it would have if it were not the Master Servicer or the Special Servicer or an Affiliate thereof. If, at any
time during which the Master Servicer or the Special Servicer or an Affiliate of the Master Servicer or the Special Servicer
is the Holder or Beneficial Owner of any Certificate, the Master Servicer or the Special Servicer proposes to take action
(including for this purpose, omitting to take action) that (i) is not expressly prohibited by the terms hereof and would
not, in the Master Servicer’s or the Special Servicer’s good faith judgment, violate the Servicing Standard, and
(ii) if taken, might nonetheless, in the Master Servicer’s or the Special Servicer’s good faith judgment, be
considered by other Persons to violate the Servicing Standard, the Master Servicer or the Special Servicer may, but will not
be required to, seek the approval of the Certificateholders to such action (or inaction) by delivering to the
Certificate Administrator a written notice that (i) states that it is delivered pursuant to this Section 6.06,
(ii) identifies the Percentage Interest in each Class of Certificates beneficially owned by the Master Servicer or the
Special Servicer or an Affiliate of the Master Servicer or the Special Servicer, and (iii) describes in reasonable
detail the action (or inaction) that the Master Servicer or the Special Servicer proposes to take (or refrain from taking).
The Certificate Administrator, upon receipt of such notice, shall forward it to the Certificateholders (other than the Master
Servicer and its Affiliates or the Special Servicer and its Affiliates, as appropriate) together with such instructions for
response as the Certificate Administrator shall reasonably determine. If at any time Certificateholders holding a majority of
the Voting Rights of all Certificateholders shall have consented in writing to the proposal described in the written notice,
and if the Master Servicer or the Special Servicer shall act as proposed in the written notice, such action shall be deemed
to comply with the Servicing Standard. The Certificate Administrator shall be entitled to reimbursement from the Master
Servicer or the Special Servicer, as applicable, of the reasonable expenses of the Certificate Administrator incurred
pursuant to this paragraph. It is not the intent of the foregoing provision that the Master Servicer or the Special Servicer
be permitted to invoke the procedure set forth herein with respect to routine servicing matters arising hereunder, except in
the case of unusual circumstances.

 

Section
6.07 Selection and Removal of the Directing Holder. (a) The
Majority Controlling Class Certificateholder, as determined by the Certificate Registrar from time to time, may serve as, or
may appoint as representative to serve as, the Directing Holder; provided that (i) if no Directing Holder has been
selected, (ii) upon receipt by the Master Servicer, the Special Servicer and the Certificate Administrator of notice from the
Majority Controlling Class Certificateholder that a Directing Holder is no longer so designated, or (iii) the Directing
Holder is deemed to have resigned pursuant to Section 6.07(d)(ii), the Controlling Class Certificateholder that owns,
and is identified (with contact information) to the Master Servicer, the Special Servicer and the Certificate
Administrator as owning, the largest aggregate Certificate Balance of Certificates of the Controlling Class (or the designee
of such Controlling Class Certificateholder) shall be the Directing Holder; provided, further that,
notwithstanding the foregoing, so long as Prima Parties are, collectively, the holder of at least 49.5% of the Controlling
Class (by Certificate Balance) and none of the Prima Parties is a Borrower Related Party, such Holder, or the representative
appointed by such Holder, will be the initial Directing Holder. Each Holder of the Certificates of the Controlling Class
shall be entitled to vote in each

 

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election of the Directing Holder; provided that, for the avoidance of doubt, the
Directing Holder cannot be a Manager, the Borrower or an Affiliate of a Manager or Borrower, or a Restricted Holder.

 

(b)           The
initial Directing Holder shall provide a written certification to the Certificate Administrator on the Closing Date certifying
that (i) it is not a Borrower Related Party, (ii) it is the Holder of at least 49.5% of the Controlling Class (by Certificate Balance),
(iii) the Master Servicer, Special Servicer, Certificate Administrator and Trustee may conclusively rely on such certification
and the Master Servicer, Special Servicer, Certificate Administrator and Trustee shall have no liability for such reliance and
(iv) in the event the initial Directing Holder and its Affiliates, collectively, is no longer the Holder of at least 49.5% of the
Controlling Class (by Certificate Balance), the initial Directing Holder shall promptly notify Pacific Life Insurance Company and
each party to this Agreement in writing that it is no longer the Holder of at least 49.5% of the Controlling Class (by Certificate
Balance).

 

(c)           The
initial Directing Holder is Prima, as agent for its managed account. The Majority Controlling Class Certificateholder shall give
written notice to the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer of the appointment of
any subsequent Directing Holder (in order to receive notices hereunder).

 

(d)           (i)
The Directing Holder may be removed at any time by the written vote of the Majority Controlling Class Certificateholder, and a
copy of the results of such vote must be delivered to each party to this Agreement; and (ii) without limiting the right of any
subsequent Majority Controlling Class Certificateholder to serve as, or appoint as representative to serve as, the Directing Holder,
if at any time the Majority Controlling Class Certificateholder is no longer the Holder of Certificates representing more than
50% of the aggregate Certificate Balance of the Controlling Class, then such Holder or its appointed representative shall be deemed
to have resigned as Directing Holder hereunder unless such Holder remains the largest Controlling Class Certificateholder (by aggregate
Certificate Balance) and such resignation shall be deemed to have been effective as of the date that such Holder failed to satisfy
the definition of “Majority Controlling Class Certificateholder”; provided, however, that so long as the Prima
Parties, collectively, hold at least 49.5% of the aggregate Certificate Balance of the Controlling Class and no Prima Party or
Affiliate of Prima is a Borrower Related Party, the Majority Controlling Class Certificateholder may not remove Prima as the initial
Directing Holder.

 

(e)           The
Controlling Class Certificateholder is hereby deemed to have agreed by virtue of its purchase of a Certificate to provide its name
and address to the Certificate Administrator and to notify the Certificate Administrator of the transfer of any Certificate of
the Controlling Class, the selection of a Directing Holder or the resignation or removal thereof. Any Certificateholder or its
designee at any time appointed Directing Holder is hereby deemed to have agreed by virtue of its purchase of a Certificate to notify
the Certificate Administrator of its identity and contact information when such Certificateholder or its designee is appointed
Directing Holder and when it is removed or resigns. Upon receipt of such notice, the Certificate Administrator shall notify the
Trustee, the Special Servicer and the Master Servicer of the identity and contact information of the Directing Holder and any resignation
or removal thereof.

 

On the Closing Date, the
initial Directing Holder shall deliver a certification substantially in the form of Exhibit L-1G to this Agreement. Upon
the resignation or removal of

 

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the existing Directing Holder, any successor Directing Holder shall also deliver a certification
substantially in the form of Exhibit L-1G to this Agreement prior to being recognized as the new Directing Holder.

 

(f)           Once
a Directing Holder has been selected, each of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator,
the Trustee and each other Certificateholder (or Beneficial Owner, if applicable) shall be entitled to rely on such selection unless
the Majority Controlling Class Certificateholder shall have notified each other party to this Agreement and each other Certificateholder
of the Controlling Class, in writing, of the resignation of such Directing Holder or the selection of a new Directing Holder (with
contact information).

 

(g)          Until
it receives notice to the contrary, each party to this Agreement shall be entitled to rely on the most recent notification with
respect to the identity of the Certificateholders of the Controlling Class and the identity and contact information of the Directing
Holder.

 

(h)           The
Directing Holder shall be responsible for its own expenses.

 

(i)            The
Master Servicer, the Special Servicer or the Trustee may from time to time request that the Certificate Administrator provide the
name of the then-current Directing Holder. Upon such request, the Certificate Administrator shall promptly (but in no event more
than five (5) Business Days following such request) provide the name of the then-current Directing Holder to the Master Servicer,
the Special Servicer or the Trustee, as applicable, but only to the extent the Certificate Administrator has actual knowledge of
the identity of the then-current Directing Holder; provided that if the Certificate Administrator does not have actual knowledge
of the identity of the then-current Directing Holder, then (i) the Certificate Administrator shall determine which Class is
the Controlling Class and (ii) the Certificate Administrator shall promptly (but in no event more than five (5) Business
Days following such request) request from the Depository, with the assistance of the Trustee, the list of DTC participants for
the Controlling Class and make reasonable efforts to obtain a list of Beneficial Owners from such DTC participants, and the Certificate
Administrator shall provide such list of DTC participants and such list of Beneficial Owners (to the extent the Certificate Administrator
obtains such list of Beneficial Owners), to the Master Servicer, the Special Servicer or the Trustee. The Certificate Administrator
shall be entitled to conclusively rely on the list of DTC participants for the Controlling Class provided by the Depository and
the list of Beneficial Owners provided by any DTC participant and shall not have any liability for such reliance. Any expenses
incurred in connection with obtaining such information shall be at the expense of the requesting party; provided that if
(i) such expenses arise in connection with an event as to which the Directing Holder has review, consent or consultation rights
with respect to an action taken by, or report prepared by, the requesting party pursuant to this Agreement and (ii) the requesting
party has not been notified of the identity of the Directing Holder or reasonably believes that the identity of the Directing Holder
has changed, then such expenses shall be at the expense of the Trust. The Master Servicer, the Special Servicer and the Trustee
shall be entitled to conclusively rely on any such information so provided. In the event and for so long as the identity of the
Directing Holder is not provided by the Certificate Administrator, the Master Servicer and the Special Servicer shall have no obligation
to consult with, provide notice to or seek the approval of any Directing Holder. To the extent the Master Servicer or the Special
Servicer has written

 

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notice of any change in the identity of a Directing Holder or the list of Holders (or Beneficial Owners, if
applicable) of the Controlling Class, then the Master Servicer or the Special Servicer, as applicable, shall promptly notify the
Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer thereof, who may rely conclusively on such
notice from the Master Servicer or the Special Servicer, as applicable.

 

Section 6.08 Limitation
on Liability of Directing Holder; Acknowledgements of the Certificateholders. The Directing Holder will have no liability
to the Trust or Certificateholders for any action taken, or refraining from the taking of any action, in accordance with or as
permitted by this Agreement. Each Certificateholder acknowledges and agrees, by its acceptance of its Certificates, that: (i)
the Directing Holder and/or any Controlling Class Certificateholder may each have relationships and interests that conflict with
those of Holders of one or more other Classes of Certificates; (ii) the Directing Holder and/or any Controlling Class Certificateholder
may act solely in the interests of the Holders of the Controlling Class; (iii) the Directing Holder and the Holders of the Controlling
Class do not have any duties to the Trust or to the Holders of any Class of Certificates; (iv) the Directing Holder and/or any
Controlling Class Certificateholder may take actions that favor interests of the Controlling Class over the interests of the Holders
of one or more other Classes of Certificates; (v) neither the Directing Holder nor the Holders of the Controlling Class shall
have any liability whatsoever to the Trust, the parties to this Agreement, the Certificateholders or any other Person for having
acted in accordance with or as permitted under the terms of this Agreement; and (vi) the Holders of the Certificates may not take
any action whatsoever against the Directing Holder or any Holder the Controlling Class or any of the respective affiliates, directors,
officers, shareholders, members, partners, agents or principals thereof as a result of the Directing Holder or the Holders the
Controlling Class having acted in accordance with the terms of and as permitted under this Agreement.

 

Section 6.09 Rights
and Powers of the Directing Holder. (a) Notwithstanding anything herein to the contrary, except as set forth in this
Section 6.09, (i) the Master Servicer shall not be permitted to take any of the actions constituting a Major Decision unless
it has obtained the consent of the Special Servicer (which approval shall be deemed given if the Special Servicer does not object
within fifteen (15) Business Days (or, in the case of a determination of an Acceptable Insurance Default, ninety (90) days) of
receipt of the Master Servicer’s written analysis and recommendation together with any information in the possession of
the Master Servicer that is reasonably required to make a decision regarding the subject action), and (ii) during any Subordinate
Control Period, the Special Servicer shall not be permitted to consent to the Master Servicer’s taking any of the actions
constituting a Major Decision, nor will the Special Servicer itself be permitted to take any of the actions constituting a Major
Decision, as to which the Directing Holder has objected in writing within seven (7) Business Days (or, in the case of a determination
of an Acceptable Insurance Default, thirty (30) days) after receipt of the written recommendation and analysis from the Special
Servicer, together with any information in the possession of the Special Servicer that is reasonably necessary to make a decision
regarding the subject action (provided that if such written objection has not been received by the Special Servicer within
such seven (7) Business Days (or, in the case of a determination of an Acceptable Insurance Default, thirty (30) day period),
then the Directing Holder shall be deemed to have approved such action); provided that if the Special Servicer or Master
Servicer (if the Master Servicer is otherwise authorized by this Agreement to

 

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take such action), as applicable, determines that
immediate action, with respect to a Major Decision, or any other matter requiring consent of the Directing Holder during any Subordinate
Control Period, is necessary to protect the interests of the Certificateholders, the Special Servicer or Master Servicer, as applicable,
may take any such action without waiting for the Directing Holder’s (or, if applicable, the Special Servicer’s) response;
provided, further, that the Special Servicer is not required to obtain the consent of the Directing Holder for any
of the foregoing actions during any Subordinate Consultation Period; provided, further, that the Special Servicer
will be required to consult, solely on a non-binding basis (and to consider alternative actions recommended by each such party)
during any Subordinate Consultation Period, with the Directing Holder with respect to any of the Major Decisions and any other
matter as to which consent of the Directing Holder would have been required during any Subordinate Control Period.

 

In addition, during any Subordinate
Control Period, the Directing Holder may direct the Special Servicer to take, or to refrain from taking, such other actions with
respect to the Loan as the Directing Holder may deem advisable or as to which provision is otherwise made herein. Notwithstanding
anything herein to the contrary, no such direction, and no direction or objection contemplated by the preceding paragraph or any
other provision of this Agreement, may require or cause the Master Servicer or the Special Servicer to violate any provision of
the Loan Documents, any intercreditor agreement, applicable law or this Agreement, including without limitation the Master Servicer’s
or the Special Servicer’s obligation to act in accordance with the Servicing Standard, or expose any Certificateholder, the
Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Trust or their affiliates, officers, directors
or agent to any claim, suit or liability, result in the imposition of a tax upon the Trust or materially expand the scope of the
Master Servicer’s or the Special Servicer’s responsibilities hereunder. Furthermore, in addition to the Directing Holder’s
rights of consent and consultation (as applicable) as set forth in Section 6.09(a) above, it is understood and agreed that
to the extent any other provision of this Agreement requires the provision of notice to, the obtaining of consent of, and/or consultation
with, the Directing Holder, or otherwise provides for any right of the Directing Holder thereunder, then none of the Trustee, the
Certificate Administrator, the Master Servicer or the Special Servicer shall be entitled to take any action (or omit to take any
action) in contravention of the applicable rights of the Directing Holder contained in such provision; provided, however,
if the Directing Holder has not objected to any request for consent within ten (10) business days (or a thirty (30) day period
with regard to an Acceptable Insurance Default), such consent shall be deemed given; provided further that this sentence
is not intended to in any way (i) expand the rights of the Directing Holder, (ii) limit the application of the immediately preceding
sentence, (iii) remove any limitations on the exercise of such rights set forth in such other provisions, or (iv) require the Trustee,
the Certificate Administrator, the Master Servicer and/or the Special Servicer to send a notice to, obtain the consent of, or consult
with a new Directing Holder whose name and contact information have not yet been provided to the Trustee, the Certificate Administrator,
the Master Servicer and/or the Special Servicer; and provided, further, that if such other provisions are in any
way subject to this Section 6.09, then the exercise of such rights shall be subject to the immediately following paragraph
and Section 6.09(b).

 

If the Special Servicer or
Master Servicer, as applicable, determines that a refusal to consent by the Directing Holder or any direction or advice from the
Directing Holder would

 

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otherwise cause the Special Servicer or Master Servicer, as applicable, to violate the terms of the Loan
Documents, any intercreditor agreement, applicable law, provisions of the Code or this Agreement, including without limitation,
the Servicing Standard, the Special Servicer or Master Servicer, as applicable, shall disregard such refusal to consent, direction
or advice and notify the Directing Holder, the Trustee, the Certificate Administrator and the 17g-5 Information Provider of its
determination, including a reasonably detailed explanation of the basis therefor. The taking of, or refraining from taking, any
action by the Master Servicer or Special Servicer in accordance with the direction of or approval of the Directing Holder that
does not violate the Loan Documents, any intercreditor agreement, any applicable law, provisions of the Code or the Servicing Standard
or any other provisions of this Agreement, shall not result in any liability on the part of the Master Servicer or the Special
Servicer.

 

(b)         At
any time other than during a Subordinate Control Period or a Subordinate Consultation Period, the Directing Holder shall have no
consultation rights under this Agreement and shall have no right to receive any notices, reports or information (other than notices,
reports or information required to be delivered to all Certificateholders) or any other rights as Directing Holder; provided
that the Directing Holder (if and to the extent that it is a Certificateholder) will maintain the right to exercise its Voting
Rights for the same purposes as any other Certificateholder under this Agreement.

 

Section 6.10 Directing
Holder Contact with Master Servicer and Special Servicer. Upon reasonable request, each of the Master Servicer and the
Special Servicer shall, without charge, make a Servicing Officer available to answer questions from the Directing Holder (during
any Subordinate Control Period and any Subordinate Consultation Period) regarding the performance and servicing of the Trust Loan
(or, in the case of the Special Servicer, the Special Servicer’s operational activities on a platform level basis related
to the servicing of the Specially Serviced Loan and the servicing of any REO Property) for which the Master Servicer or the Special
Servicer, as the case may be, is responsible.

 

Notwithstanding any provision
of this Agreement to the contrary, the failure of the Master Servicer or the Special Servicer to disclose any information otherwise
required to be disclosed by it pursuant to this Agreement shall not constitute a breach of this Agreement if the Master Servicer
or the Special Servicer, as applicable, determines, in its reasonable and good faith judgment and consistent with the Servicing
Standard, that such disclosure would constitute a waiver of the attorney-client privilege on behalf of the Trust or the Trust Fund
or otherwise materially harm the Trust or the Trust Fund.

 

ARTICLE
VII

TERMINATION EVENTS

 

Section 7.01 Servicer
Termination Events. (a)  With respect to the Master Servicer, “Master Servicer Termination Event”,
wherever used herein, means any one of the following events:

 

(i)           (A) any
failure by the Master Servicer to make any deposit required to the Collection Account on the day and by the time such deposit was
first required to be made

 

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under the terms of this Agreement, which failure is not remedied within two (2) Business Days, (B) any
failure by the Master Servicer to deposit into, or remit to the Certificate Administrator for deposit into, any Distribution Account
any amount required to be so deposited or remitted (including, without limitation, any required P&I Advance or Administrative
Advance, unless the Master Servicer determines such P&I Advance or Administrative Advance is a Nonrecoverable Advance), which
failure is not remedied by 11:00 a.m. (New York City time) on the relevant Distribution Date (provided, however,
that to the extent the Master Servicer does not timely make such remittance to the Certificate Administrator, the Master Servicer
shall pay the Certificate Administrator for the account of the Certificate Administrator interest on any amount not timely remitted
at the Prime Rate from and including the applicable required remittance date to, but not including, the date such remittance is
actually made) or (C) to remit to any holder of a Companion Loan, as and when required by this Agreement or the Co-Lender Agreement,
any amount required to be so remitted (which failure continues for two (2) Business Days);

 

(ii)         any
failure on the part of the Master Servicer duly to observe or perform in any material respect any of its other covenants or obligations
contained in this Agreement, which failure continues unremedied for a period of 30 days (15 days in the case of the Master Servicer’s
failure to make a Property Advance or 45 days in the case of failure to pay the premium for any insurance policy required to be
force placed by the Master Servicer pursuant to this Agreement or in any event such reasonable shorter period of time as is necessary
to avoid the commencement of foreclosure proceedings for any lien relating to unpaid real estate taxes or assessments or a lapse
in any required insurance coverage) after the date on which written notice of such failure, requiring the same to be remedied,
shall have been given to the Master Servicer by any other party hereto, or to the Master Servicer, with a copy to each other party
to this Agreement, by (A) the Holders of Certificates of any Class evidencing, as to such Class, Percentage Interests aggregating
not less than 25% of such Class or (B) an affected Companion Loan Holder; provided, however, that if such failure
is capable of being cured and the Master Servicer is diligently pursuing such cure, such 15-, 30- or 45-day period, as applicable,
will be extended an additional 30 days;

 

(iii)         any
breach on the part of the Master Servicer of any representation or warranty contained in Section 2.04(a) of this Agreement,
which materially and adversely affects the interests of any Class of Certificateholders or any Companion Loan Holder and which
continues unremedied for a period of 30 days after the date on which notice of such breach, requiring the same to be remedied,
shall have been given to the Master Servicer by any party hereto, or to the Master Servicer, the Special Servicer, the Depositor
and the Trustee by the Holders of Certificates of any Class evidencing, as to such Class, Percentage Interests aggregating not
less than 25% of such Class or by an affected Companion Loan Holder; provided, however, that if such breach is capable
of being cured and the Master Servicer is diligently pursuing such cure, such 30-day period will be extended an additional 30 days;

 

(iv)         a
decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or

 

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

 

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

 

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

 

(vii)         a
servicing officer of the Master Servicer obtains actual knowledge that the Master Servicer is no longer listed on S&P’s
Select Servicer List as a U.S. Commercial Mortgage Master Servicer, and the Master Servicer is not reinstated to such status on
such list within 60 days of such event;

 

(viii)        KBRA
has (A) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates, or (B) placed one or more
Classes of Certificates on “watch status” in contemplation of a possible ratings downgrade or withdrawal and, in the
case of either of clauses (A) or (B), cited servicing concerns with the Master Servicer as the sole or material factor in such
rating action (and such qualification, downgrade, withdrawal or “watch status” placement has not been withdrawn by
KBRA within 60 days of such event);

 

(ix)          a
Companion Loan Rating Agency has (A) qualified, downgraded or withdrawn its rating or ratings of one or more classes of Companion
Loan Securities, or (B) placed one or more classes of Companion Loan Securities on “watch status” in contemplation
of rating downgrade or withdrawal and, in the case of either of clauses (A) or (B), publicly citing servicing concerns with the
Master Servicer as the sole or material factor in such rating action (and such qualification, downgrade, withdrawal or “watch
status” placement has not been withdrawn by such Companion Loan Rating Agency within 60 days of such event); or

 

(x)           so
long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Master Servicer or any
primary servicer, Sub-Servicer or Servicing Function Participant (such entity, the “Sub-Servicing Entity”) retained
by the Master Servicer shall fail to deliver the items required to be delivered by this Agreement to enable such Other Securitization
Trust to comply with its reporting obligations under the Exchange Act within the time set forth for such delivery in Article
XI, including any applicable grace periods (any Sub-Servicing Entity that defaults in

 

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accordance with this Section 7.01(a)(xi)
shall be terminated at the direction of the Depositor).

 

Then, and in each and every such case, so long
as a Master Servicer Termination Event shall not have been remedied, the Trustee may, and at the written direction of the Holders
of at least 25% of the aggregate Voting Rights of all Certificates (allocated based on Certificate Balances as notionally reduced
by any Appraisal Reduction Amounts and Notional Balances), the Trustee shall, terminate all of the rights and obligations of the
Master Servicer (other than the rights to indemnification provided in Section 6.03 of this Agreement and compensation provided
in Section 3.12 of this Agreement).

 

In the event that the Master
Servicer is also the Special Servicer and the Master Servicer is terminated as provided in this Section 7.01, then the Master
Servicer shall also be terminated as Special Servicer.

 

If the Master Servicer receives
notice of termination under this Section 7.01(a) solely due to a Master Servicer Termination Event under Section 7.01(a)(vii),
(viii) or (ix) of this Agreement and if the Master Servicer provides the Trustee with the appropriate “request
for proposal” materials within five (5) Business Days following such termination notice, then the Master Servicer shall continue
to serve as Master Servicer hereunder until a successor Master Servicer is selected in accordance with this Section 7.01(a).
Upon receipt of the “request for proposal” materials, the Trustee shall promptly thereafter (using such “request
for proposal” materials provided by the Master Servicer) solicit good faith bids for the rights to service the Whole Loan
under this Agreement from at least three (3) Persons qualified to act as Master Servicer hereunder in accordance with Section
6.02 and 7.02 of this Agreement (any such Person so qualified, a “Qualified Bidder”) or, if three
(3) Qualified Bidders cannot be located, then from as many persons as the Trustee can determine are Qualified Bidders; provided
that, at the Trustee’s request, the Master Servicer shall supply the Trustee with the names of Persons from whom to solicit
such bids; and provided, further, that the Trustee shall not be responsible if less than three (3) or no Qualified
Bidders submit bids for the right to service the Whole Loan under this Agreement. The bid proposal shall require any Successful
Bidder (as defined below), as a condition of such bid, to enter into this Agreement as successor Master Servicer, and to agree
to be bound by the terms hereof, within 45 days after the notice of termination of the Master Servicer. The materials provided
to the Trustee shall provide for soliciting bids: (i) on the basis of such successor Master Servicer retaining all Sub-Servicers
to continue the primary servicing of the Whole Loan pursuant to the terms of the respective Sub-Servicing Agreements and entering
into a Sub-Servicing Agreement with the terminated Master Servicer to service the Whole Loan at a sub-servicing fee rate per
annum equal to the excess of the Servicing Fee Rate minus (a) 0.00125% (0.125 basis points) with regard to the Trust Loan and
(b) 0% (0 basis points) with regard to the Companion Loan (each, a “Servicing Retained Bid”); and (ii) on
the basis of the terminated Master Servicer not being retained as a Sub-Servicer (each, a “Servicing Released Bid”).
The Trustee shall select the Qualified Bidder with the highest cash Servicing Retained Bid (or, if none, the highest cash Servicing
Released Bid) (the “Successful Bidder”) to act as successor Master Servicer hereunder; provided, however,
that if the Trustee does not receive a No Downgrade Confirmation within 10 days after the selection of such Successful Bidder,
then the Trustee shall repeat the bid process described above (but subject to the above described 45 day time period) until such
No Downgrade Confirmation is obtained. The Trustee

 

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shall direct the Successful Bidder to enter into this Agreement as successor
Master Servicer pursuant to the terms hereof no later than 45 days after notice of the termination of the Master Servicer; provided,
however, that the initial Master Servicer may request and obtain an additional 20 days for such sale and assumption to be
completed so long as the initial Master Servicer delivers to the Trustee an Officer’s Certificate stating that the sale and assumption
of the right to service the Whole Loan cannot be completed in the initial 45-day period and specifying the reasons therefor.

 

Upon the assignment and acceptance
of master servicing rights hereunder (subject to the terms of Section 3.12 of this Agreement) to and by the Successful Bidder,
the Trustee shall remit or cause to be remitted (i) if the successful bid was a Servicing Retained Bid, to the Master Servicer
to be terminated pursuant to this Section 7.01(a), the amount of such cash bid received from the Successful Bidder (net
of “out of pocket” expenses incurred in connection with obtaining such bid and transferring servicing) and (ii) if
the successful bid was a Servicing Released Bid, to the Master Servicer and each terminated Sub-Servicer its respective Bid Allocation.

 

The Master Servicer to be
terminated pursuant to this Section 7.01(a) shall be responsible for all out of pocket expenses incurred in connection with
the attempt to sell its rights to service the Whole Loan, which expenses are not reimbursed to the party that incurred such expenses
pursuant to the preceding paragraph.

 

If the Successful Bidder
has not entered into this Agreement as successor Master Servicer within the above described time period or no Successful Bidder
was identified within the above described time period, the Master Servicer to be terminated pursuant to Section 7.01(a)
of this Agreement shall reimburse the Trustee for all reasonable “out of pocket” expenses incurred by the Trustee in
connection with such bid process and the Trustee shall have no further obligations under this Section 7.01(a). The Trustee
thereafter may act or may select a successor to act as Master Servicer hereunder in accordance with Section 7.02 of this
Agreement.

 

Notwithstanding anything
to the contrary in this Article VII, if the Master Servicer shall timely deliver the notice and request for proposal materials
referred to in the fourth preceding paragraph, no resignation or termination of the Master Servicer shall be effective in connection
with a Master Servicer Termination Event under Section 7.01(a)(vii) of this Agreement, and the Master Servicer shall continue
to perform as such and to collect the Servicing Fee until the conclusion of the process described in this Section 7.01(a).

 

In no event shall the Trustee
or the Certificate Administrator be deemed to have knowledge of or be aware of any Master Servicer Termination Event until a Responsible
Officer of the Trustee or the Certificate Administrator, as applicable, has received written notice thereof or has actual knowledge
thereof.

 

(b)           “Special
Servicer Termination Event”, wherever used herein, means any one of the following events:

 

(i)           any
failure by the Special Servicer to deposit into the REO Account at or within the time specified by this Agreement and such failure
continues unremediated for two (2) Business Days, or any failure by the Special Servicer to remit to Master Servicer

 

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for deposit
into, the Collection Account any amount required to be so remitted by the Special Servicer pursuant to, and at the time specified
by, the terms of this Agreement; provided, however, that the failure of the Special Servicer to remit such amount
to the Master Servicer shall not be a Special Servicer Termination Event if such failure is remedied within two (2) Business Days
and if the Special Servicer has compensated the Master Servicer for any loss of income on such amount suffered by the Master Servicer
due to and caused by the late remittance of the Special Servicer and reimburse the Trust for any resulting Advance Interest Amount
due to the Master Servicer;

 

(ii)          any
failure on the part of the Special Servicer duly to observe or perform in any material respect any of its other covenants or obligations
contained in this Agreement, which failure continues unremedied for a period of 30 days (45 days in the case of failure to pay
the premium for any insurance policy required to be force placed by the Special Servicer pursuant to this Agreement or in any event
such reasonable shorter period of time as is necessary to avoid the commencement of foreclosure proceedings for any lien relating
to unpaid real estate taxes or assessments or a lapse in any required insurance coverage) after the date on which written notice
of such failure, requiring the same to be remedied, shall have been given to the Special Servicer by any other party hereto, or
to the Special Servicer, with a copy to each other party to this Agreement, by the (A) Holders of Certificates of any Class evidencing,
as to such Class, Percentage Interests aggregating not less than 25% of such Class or (B) an affected Companion Loan Holder; provided,
however, that if such failure is capable of being cured and the Special Servicer is diligently pursuing such cure, such
30- or 45-day period, as applicable, will be extended an additional 30 days;

 

(iii)         any
breach on the part of the Special Servicer of any representation or warranty contained in Section 2.04(a) of this Agreement,
which materially and adversely affects the interests of any Class of Certificateholders or any Companion Loan Holder and which
continues unremedied for a period of 30 days after the date on which notice of such breach, requiring the same to be remedied,
shall have been given to the Special Servicer by any party hereto, or to the Master Servicer, the Special Servicer, the Depositor
and the Trustee by the Holders of Certificates of any Class evidencing, as to such Class, Percentage Interests aggregating not
less than 25% of such Class or by an affected Companion Loan Holder; provided, however, that if such breach is capable
of being cured and the Special Servicer is diligently pursuing such cure, such 30-day period will be extended an additional 30
days;

 

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

 

(v)          the
Special Servicer shall consent to the appointment of a conservator, receiver, liquidator, trustee or similar official in any bankruptcy,
insolvency,

 

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readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to the Special Servicer
or of or relating to all or substantially all of its property;

 

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

 

(vii)        a
servicing officer of the Special Servicer obtains actual knowledge that the Special Servicer is no longer listed on S&P’s
Select Servicer List as a U.S. Commercial Mortgage Special Servicer, and the Special Servicer is not reinstated to such status
on such list within 60 days of such event;

 

(viii)       KBRA
has (A) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates, or (B) placed one or more
Classes of Certificates on “watch status” in contemplation of a possible ratings downgrade or withdrawal and, in the
case of either of clauses (A) or (B), cited servicing concerns with the Special Servicer as the sole or material factor in such
rating action (and such qualification, downgrade, withdrawal or “watch status” placement has not been withdrawn by
KBRA within 60 days of such event);

 

(ix)         a
Companion Loan Rating Agency has (A) qualified, downgraded or withdrawn its rating or ratings of one or more classes of Companion
Loan Securities, or (B) placed one or more classes of Companion Loan Securities on “watch status” in contemplation
of rating downgrade or withdrawal and, in the case of either of clauses (A) or (B), publicly citing servicing concerns with the
Special Servicer, as the sole or material factor in such rating action (and such qualification, downgrade, withdrawal or “watch
status” placement has not been withdrawn by such Companion Loan Rating Agency within 60 days of such event); or

 

(x)         so
long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Special Servicer or any
Sub-Servicing Entity retained by the Special Servicer shall fail to deliver the items required to be delivered by this Agreement
to enable such Other Securitization Trust to comply with its reporting obligations under the Exchange Act within the time set forth
for such delivery in Article XI, including any applicable grace periods (any Sub-Servicing Entity that defaults in accordance
with this Section 7.01(b)(xi) shall be terminated at the direction of the Depositor).

 

Then, and in each and every such case, so long
as a Special Servicer Termination Event shall not have been remedied, the Trustee may, and at the written direction of the Holders
of at least 25% of the aggregate Voting Rights of all Certificates (allocated based on Certificate Balances as notionally reduced
by any Appraisal Reduction Amounts and Notional Balances), the Trustee shall, terminate all of the rights and obligations of the
Special Servicer (other than the rights to indemnification provided in Section 6.03(a) of this Agreement and compensation
provided in Section 3.12(c) of this Agreement). During any Subordinate Control Period, the Directing

 

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Holder shall have the
right to select the successor special servicer following any Special Servicer Termination Event.

 

In no event shall the Trustee
or the Certificate Administrator be deemed to have knowledge of or be aware of any Special Servicer Termination Event until a Responsible
Officer of the Trustee or the Certificate Administrator, as applicable, has received written notice thereof or has actual knowledge
thereof.

 

Notwithstanding Section
7.01(a) or Section 7.01(b), (i) if any Master Servicer Termination Event occurs that affects only a Companion Loan or
if an NRSRO engaged to rate a Companion Loan Security qualifies, downgrades or withdraws its rating of such Companion Loan Security,
publicly citing servicing concerns with the Master Servicer as the sole or a material factor in such rating action, then the Trustee,
only at the direction of a related Companion Loan Holder and not at the direction of the Certificateholders, shall direct the Master
Servicer to appoint a sub-servicer (or if the Whole Loan is currently being sub-serviced, then the Trustee shall direct the Master
Servicer to replace such sub-servicer with a new sub-servicer but only if such original sub-servicer is in default (beyond any
applicable cure periods) under the related sub-servicing agreement, and the Master Servicer shall be permitted to terminate the
sub-servicing agreement due to such default) that shall be responsible for servicing the Whole Loan; provided that the Master Servicer
shall be required to obtain a No Downgrade Confirmation from each Rating Agency (including a No Downgrade Confirmation with respect
to any Companion Loan Securities) (at the expense of the requesting party) with respect to the appointment of such sub-servicer
and (ii) if any Special Servicer Termination Event occurs that affects only one or more Companion Loans and the Special Servicer
is not otherwise terminated or if an NRSRO engaged to rate a Companion Loan Security qualifies, downgrades or withdraws its rating
of such Companion Loan Security, publicly citing servicing concerns with the Special Servicer as the sole or a material factor
in such rating action, then the Trustee, at the direction of an affected Companion Loan Holder, shall terminate the Special Servicer.

 

(c)          During
any Subordinate Control Period, the Directing Holder shall have the right to direct the Trustee to terminate the Special Servicer
(subject to such terminated Special Servicer’s rights to indemnification, payment of outstanding fees, and other rights set
forth in this Agreement which survive termination) at any time, with or without cause, and the Directing Holder shall have the
right to, and shall, appoint a successor Special Servicer, which shall execute and deliver to the other parties hereto an agreement
whereby the successor Special Servicer agrees to assume and perform punctually the duties of the Special Servicer specified in
this Agreement; provided that the Trustee shall have been provided a No Downgrade Confirmation from each Rating Agency prior
to the termination of the Special Servicer. The Special Servicer shall not be terminated pursuant to this paragraph until a successor
special servicer shall have been appointed. The Directing Holder shall pay any costs and expenses incurred in connection with the
removal and appointment of a Special Servicer pursuant to this paragraph (unless such removal is based on any of the events or
circumstances set forth in Section 7.01(b)). Notwithstanding anything to the contrary in this Agreement, no successor special
servicer appointed by the Directing Holder pursuant to Section 6.04, Section 7.01(b) or this Section 7.01(c)
or otherwise pursuant to this Agreement will be required to meet any net worth requirements.

 

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After the termination of
a Subordinate Control Period, the Special Servicer may be terminated in accordance with the provisions of Section 3.22(b)
hereof.

 

(d)           If
the Master Servicer or the Special Servicer is terminated pursuant to this Section 7.01, the Trustee (the “Terminating
Party”) shall, by notice in writing to the Master Servicer or the Special Servicer, as the case may be (the “Terminated
Party”), terminate all of its rights and obligations under this Agreement and in and to the Whole Loan and the proceeds
thereof, other than any rights the Terminated Party may have hereunder as a Certificateholder and any rights or obligations that
accrued prior to the date of such termination (including the right to receive all amounts accrued or owing to it under this Agreement,
plus interest at the Advance Rate on such amounts until received to the extent such amounts bear interest as provided in this Agreement,
with respect to periods prior to the date of such termination and the right to the benefits of Section 6.03 of this Agreement
notwithstanding any such termination), and with respect to the Special Servicer, the right to receive any Workout Fee and/or Liquidation
Fee subsequent to its termination as Special Servicer, pursuant to Section 3.12(c) of this Agreement. No successor Special
Servicer shall be entitled to such Workout Fee and/or Liquidation Fee received by the terminated Special Servicer. On or after
the receipt by the Terminated Party of such written notice, all of its authority and power under this Agreement, whether with respect
to the Certificates (except that the Terminated Party shall retain its rights as a Certificateholder in the event and to the extent
that it is a Certificateholder), the Whole Loan or otherwise, shall pass to and be vested in the Terminating Party pursuant to
and under this Section (absent the appointment of a successor, and such successor’s assumption of obligations hereunder,
including, without limitation, by the Directing Holder during any Subordinate Control Period) and, without limitation, the Terminating
Party is hereby authorized and empowered to execute and deliver, on behalf of and at the expense of the Terminated Party, as attorney-in-fact
or otherwise, any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate
to effect the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Whole
Loan and related documents, or otherwise. The Master Servicer and the Special Servicer each agree in the event it is terminated
pursuant to this Section 7.01 to promptly (and in any event no later than ten (10) Business Days subsequent to such notice)
provide, at its own expense, the Terminating Party with all documents and records requested by the Terminating Party to enable
the Terminating Party to assume its functions hereunder, and to cooperate with the Terminating Party and the successor to its responsibilities
hereunder in effecting the termination of its responsibilities and rights hereunder, including, without limitation, the transfer
to the successor Master Servicer or Special Servicer or the Terminating Party, as applicable, for administration by it of all cash
amounts which shall at the time be or should have been credited by the Master Servicer or the Special Servicer to the Collection
Account, any REO Account, Lock-Box Account or Cash Collateral Account or which shall thereafter be received with respect to the
Whole Loan, and shall promptly provide the Terminating Party or such successor Master Servicer or successor Special Servicer (which
may include the Trustee) all documents and records reasonably requested by it, such documents and records to be provided in such
form as the Terminating Party or such successor Master Servicer or Special Servicer shall reasonably request (including electronic
form), to enable it to assume the Master Servicer’s or Special Servicer’s function hereunder. All reasonable costs
and expenses of the Terminating Party (including the cost of obtaining a No Downgrade Confirmation and any applicable indemnification
that the Master Servicer or the Special Servicer would be required to provide under this Agreement) or the

 

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successor Master Servicer
or successor Special Servicer incurred in connection with transferring the Whole Files to the successor Master Servicer or Special
Servicer and amending this Agreement to reflect such succession as successor Master Servicer or successor Special Servicer pursuant
to Section 7.01(a) or (b), as applicable, shall be paid by the predecessor Master Servicer or the Special Servicer,
as applicable, upon presentation of reasonable documentation of such costs and expenses. If the predecessor Master Servicer or
Special Servicer (as the case may be) has not reimbursed the Terminating Party or the successor Master Servicer or Special Servicer
for such expenses within 90 days after the presentation of reasonable documentation, such expense shall be reimbursed by the Trust
Fund; provided that the Terminated Party shall not thereby be relieved of its liability for such expenses. If and to the
extent that the Terminated Party has not reimbursed such costs and expenses, the Terminating Party shall have an affirmative obligation
to take all reasonable actions to collect such expenses on behalf of the Trust Fund.

 

Section 7.02 Trustee
to Act; Appointment of Successor. On and after the time the Master Servicer or the Special Servicer receives a notice of termination
pursuant to Section 7.01 of this Agreement, the Terminating Party (subject to Section 7.01(a) and Section 7.01(c))
shall be its successor, until such successor is appointed in accordance with this Section, in all respects in its capacity as
the Master Servicer or the Special Servicer under this Agreement and the transactions set forth or provided for herein and, except
as provided herein, shall be subject to all the responsibilities, duties, limitations on liability and liabilities relating thereto
and arising thereafter placed on the Master Servicer or Special Servicer by the terms and provisions hereof, provided,
however, that (i) the Terminating Party shall have no responsibilities, duties, liabilities or obligations with respect
to any act or omission of the Master Servicer or Special Servicer and (ii) any failure to perform, or delay in performing,
such duties or responsibilities caused by the Terminated Party’s failure to provide, or delay in providing, records, tapes,
disks, information or monies shall not be considered a termination event for such successor hereunder. The Trustee, as successor
Master Servicer or successor Special Servicer, shall be indemnified to the full extent provided to the Master Servicer or Special
Servicer, as applicable, under this Agreement prior to the Master Servicer’s or the Special Servicer’s termination.
The appointment of a successor Master Servicer or successor Special Servicer shall not affect any liability of the predecessor
Master Servicer or Special Servicer which may have arisen prior to its termination as the Master Servicer or the Special Servicer.
The Terminating Party shall not be liable for any of the representations and warranties of the Master Servicer or Special Servicer
herein or in any related document or agreement, for any acts or omissions of the predecessor Master Servicer or predecessor Special
Servicer or for any losses incurred in respect of any Permitted Investment by the Master Servicer pursuant to Section 3.07
hereunder nor shall the Trustee be required to purchase the Trust Loan or any Companion Loan hereunder. As compensation therefor,
the Terminating Party as successor Master Servicer or successor Special Servicer shall be entitled to the Servicing Compensation
or Special Servicing Compensation, as applicable, and all funds relating to the Trust Loan or Companion Loans that accrue after
the date of the Terminating Party’s succession to which such predecessor Master Servicer or Special Servicer would have
been entitled if such predecessor Master Servicer or Special Servicer, as applicable, had continued to act hereunder. In the event
any Advances made by the Master Servicer or the Trustee shall at any time be outstanding, or any amounts of interest thereon shall
be accrued and unpaid, all amounts available to repay Advances and interest hereunder shall be applied entirely to the Advances
made by the Trustee (and the accrued and unpaid interest thereon), until such

 

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Advances
and interest shall have been repaid in full. Notwithstanding the above, the Trustee may, if it shall be unwilling to so act, or
shall (i) if it is unable to so act, (ii) if the Holders of Certificates entitled to at least 25% of the aggregate Voting
Rights or an affected Companion Loan Holder so requests in writing to the Trustee or (iii) if the Trustee is not an “approved”
servicer by any of the Rating Agencies for mortgage loans similar to the one held in the Trust, promptly appoint, or petition a
court of competent jurisdiction to appoint, any established mortgage loan servicing institution that to act as the successor to
the Master Servicer or Special Servicer, as applicable, hereunder in the assumption of all or any part of the responsibilities,
duties or liabilities of the Master Servicer or Special Servicer hereunder; provided that the Trustee shall obtain a No
Downgrade Confirmation with respect to the Certificates and any Companion Loan Securities. No appointment of a successor to a Terminated
Party hereunder shall be effective until the assumption by such successor of all the Terminated Party’s responsibilities,
duties and liabilities hereunder. Pending appointment of a successor to the Master Servicer (or the Special Servicer if the Special
Servicer is also the Master Servicer) hereunder, unless the Trustee shall be prohibited by law from so acting, the Trustee shall
act in such capacity as hereinabove provided. Pending the appointment of a successor to the Special Servicer, the Trustee shall
act in such capacity. Any appointment or succession by the Trustee to the rights and obligations of the Special Servicer hereunder
shall be subject to the Directing Holder’s right to replace the Special Servicer during any Subordinate Control Period. In
connection with such appointment and assumption described herein, the Trustee may make such arrangements for the compensation of
such successor out of payments on Whole Loan or otherwise as it and such successor shall agree; provided, however,
that no such compensation shall be in excess of that permitted to the Terminated Party hereunder, provided, further,
that if no successor to the Terminated Party can be obtained to perform the obligations of such Terminated Party hereunder, additional
amounts shall be paid to such successor and such amounts in excess of that permitted the Terminated Party shall be treated as Realized
Losses. The Depositor, the Trustee, the Master Servicer or Special Servicer and such successor shall take such action, consistent
with this Agreement, as shall be necessary to effectuate any such succession.

 

If the Trustee or an Affiliate
acts pursuant to this Section 7.02 as successor to the resigning or terminated Master Servicer, it may reduce the Master
Servicer’s Excess Servicing Fee Rate to the extent that its or such Affiliate’s compensation as successor Master Servicer
would otherwise be below the market rate servicing compensation. If the Trustee elects to appoint a successor to the resigning
or terminated Master Servicer other than itself or an Affiliate pursuant to this Section 7.02, it may reduce the Master
Servicer’s Excess Servicing Fee Rate to the extent reasonably necessary (in the sole discretion of the Trustee) for the Trustee
to appoint a qualified successor Master Servicer that meets the requirements of this Section 7.02.

 

Section 7.03 Notification
to Certificateholders and Other Persons. (a)  Upon its receipt of written notice of any termination pursuant
to Section 7.01 above or appointment of a successor to the Master Servicer or the Special Servicer, the Certificate Administrator
shall give prompt written notice thereof to Certificateholders at their respective addresses appearing in the Certificate Register,
the 17g-5 Information Provider (which shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant
to Section 3.14(d) of this Agreement), the Other Master Servicer and the Other Trustee.

 

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(b)         Within
30 days after the occurrence of any Servicer Termination Event of which a Responsible Officer of the Trustee has actual knowledge,
the Trustee shall transmit by mail to the Depositor, the Certificate Administrator (which shall then notify all Holders of Certificates),
the 17g-5 Information Provider (which shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant
to Section 3.14(d) of this Agreement) and the Companion Loan Holders notice of such Servicer Termination Event unless such
Servicer Termination Event shall have been cured or waived.

 

Section 7.04 Other
Remedies of Trustee. During the continuance of any Servicer Termination Event, so long as the Servicer Termination Event,
shall not have been remedied, the Trustee, in addition to the rights specified in Section 7.01 of this Agreement, shall
have the right, in its own name as Trustee of an express trust, to take all actions now or hereafter existing at law, in equity
or by statute to enforce its rights and remedies and to protect the interests, and enforce the rights and remedies, of the Certificateholders
and the Companion Loan Holders (including the institution and prosecution of all judicial, administrative and other proceedings
and the filing of proofs of claim and debt in connection therewith). In such event, the legal fees, expenses and costs of such
action and any liability resulting therefrom shall be expenses, costs and liabilities of the Trust Fund as provided in Section
3.06 of this Agreement (and such amounts shall be allocated in accordance with the expense allocation provisions of the Co-Lender
Agreement). Except as otherwise expressly provided in this Agreement, no remedy provided for by this Agreement shall be exclusive
of any other remedy, and each and every remedy shall be cumulative and in addition to any other remedy, and no delay or omission
to exercise any right or remedy shall impair any such right or remedy or shall be deemed to be a waiver of any Master Servicer
Termination Event or Special Servicer Termination Event, if applicable.

 

Section 7.05 Waiver
of Past Servicer Termination Events; Termination. The Holders of Certificates evidencing not less than 66-2⁄3% of
the aggregate Voting Rights of the Certificates may, together with each affected Companion Loan Holder, on behalf of all Holders
of Certificates waive any Servicer Termination Event by the Master Servicer or the Special Servicer in the performance of its
obligations hereunder and its consequences, except a termination event with respect to making any required deposits (including,
with respect to the Master Servicer, P&I Advances) to or payments from the Collection Account or the Lower-Tier Distribution
Account, or in remitting payments as received, in each case in accordance with this Agreement. Upon any such waiver of a past
termination event, such termination event shall cease to exist, and any Servicer Termination Event arising therefrom shall be
deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other termination
event or impair any right consequent thereon. Notwithstanding the foregoing, a Master Servicer Termination Event under Section
7.01(a)(x) or a Special Servicer Termination Event under Section 7.01(b)(x) of this Agreement may be waived only with
the consent of the Depositor.

 

Section 7.06 Trustee
as Maker of Advances. In the event that the Master Servicer fails to fulfill its obligations hereunder to make any Advances
and such failure remains uncured, the Trustee shall perform such obligations (x) within five (5) Business Days of the Master
Servicer Termination Event resulting from such failure by the Master Servicer with respect to Property Advances to the extent
a Responsible Officer of the Trustee has actual knowledge of such failure with respect to such Property Advances and (y) by
12:00 noon (New

 

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York City time) on the related Distribution Date with respect to P&I Advances and Administrative Advances
pursuant to the Trustee’s receipt of notice of failure pursuant to Section 4.07(a) or Section 4.07(c) of this
Agreement unless the Trustee has received notice that such failure has been cured by 11:00 a.m. on such Distribution Date.
With respect to any such Advance made by the Trustee, the Trustee shall succeed to all of the Master Servicer’s rights with
respect to Advances hereunder, including, without limitation, the Master Servicer’s rights of reimbursement and interest
on each Advance at the Advance Rate, and rights to determine that a proposed Advance is a Nonrecoverable Advance (without regard
to any impairment of any such rights of reimbursement caused by the Master Servicer’s failure to perform its obligations
hereunder); provided, however, that if Advances made by the Trustee and the Master Servicer shall at any time be
outstanding, or any interest on any Advance shall be accrued and unpaid, all amounts available to repay such Advances and the
interest thereon hereunder shall be applied entirely to the Advances outstanding to the Trustee, until such Advances shall have
been repaid in full, together with all interest accrued thereon, prior to reimbursement of the Master Servicer for such Advances.
The Trustee shall be entitled to conclusively rely on any notice given with respect to a Nonrecoverable Advance or any determination
of recoverability in connection therewith by the Master Servicer hereunder.

 

ARTICLE
VIII

CONCERNING THE TRUSTEE AND CERTIFICATE ADMINISTRATOR

 

Section 8.01 Duties
of Trustee and Certificate Administrator. (a)  Each of the Trustee and the Certificate Administrator undertakes
to perform such duties and only such duties as are specifically set forth in this Agreement and no permissive right of the Trustee
shall be construed as a duty. During the continuance of a Servicer Termination Event of which a Responsible Officer of the Trustee
has actual knowledge, the Trustee, subject to the provisions of Section 7.02 and 7.05 of this Agreement, shall exercise
such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise, as
a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.

 

(b)         The
Trustee and the Certificate Administrator, upon receipt of any resolutions, certificates, statements, opinions, reports, documents,
orders or other instruments furnished to the Trustee or the Certificate Administrator, as the case may be, which are specifically
required to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they conform on their
face to the requirements of this Agreement; provided, however, that, the Trustee or the Certificate Administrator,
as applicable, shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report,
document, order or other instrument provided to it hereunder. If any such instrument is found not to conform on its face to the
requirements of this Agreement in a material manner, the Trustee or the Certificate Administrator, as applicable, shall request
the provider of such instrument to have the instrument corrected, and if the instrument is not corrected to such Trustee’s
or such Certificate Administrator’s reasonable satisfaction, such Trustee or such Certificate Administrator will provide
notice thereof to the Certificateholders.

 

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(c)           None
of the Trustee, the Certificate Administrator or any of their officers, directors, employees, agents or “control” persons
within the meaning of the Act shall have any liability arising out of or in connection with this Agreement, provided that,
subject to Section 8.02 of this Agreement, no provision of this Agreement shall be construed to relieve the Trustee, the
Certificate Administrator or any such person, from liability for its own negligent action, its own negligent failure to act or
its own willful misconduct or its own bad faith; and provided, further, that:

 

(i)            The
Trustee’s and the Certificate Administrator’s duties and obligations shall be determined solely by the express provisions
of this Agreement, neither the Trustee nor the Certificate Administrator shall be liable except for the performance of such duties
and obligations as are specifically set forth in regard to such party in this Agreement, no implied covenants or obligations shall
be read into this Agreement against the Trustee or the Certificate Administrator and, in the absence of bad faith on the part of
the Trustee or the Certificate Administrator, as the case may be, the Trustee and the Certificate Administrator may conclusively
rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any resolutions, certificates,
statements, reports, opinions, documents, orders or other instruments furnished to the Trustee or the Certificate Administrator,
as the case may be, that conform on their face to the requirements of this Agreement to the extent set forth herein without responsibility
for investigating the contents thereof;

 

(ii)           Neither
the Trustee nor the Certificate Administrator shall be personally liable for an error of judgment made in good faith by a Responsible
Officer of the Trustee or the Certificate Administrator, as the case may be, unless it shall be proved that the Trustee or the
Certificate Administrator, as the case may be, was negligent in ascertaining the pertinent facts;

 

(iii)          Neither
the Trustee nor the Certificate Administrator shall be personally liable with respect to any action taken, suffered or omitted
to be taken by it in good faith in accordance with the direction of Holders of Certificates entitled to greater than 50% of the
Percentage Interests (or such other percentage as is specified herein) of each affected Class, or of the aggregate Voting Rights
of the Certificates, relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee
or the Certificate Administrator, as the case may be, or exercising any trust or power conferred upon the Trustee or the Certificate
Administrator, as the case may be, under this Agreement (unless a higher percentage of Voting Rights is required for such action);

 

(iv)          Neither
the Trustee nor the Certificate Administrator nor any of their directors, officers, employees, agents or control persons shall
be responsible for any act or omission of any Custodian, Paying Agent or Certificate Registrar that is not an Affiliate of the
Trustee or Certificate Administrator, respectively, and that is selected other than by the Trustee or Certificate Administrator,
respectively, performed or omitted in compliance with any custodial or other agreement, or any act or omission of the Master Servicer,
the Special Servicer, the Depositor or any other Person, including, without limitation, in connection with actions taken pursuant
to this Agreement;

 

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(v)           Neither
the Trustee nor the Certificate Administrator shall be under any obligation to appear in, prosecute or defend any legal action
which is not incidental to its respective duties as Trustee or Certificate Administrator in accordance with this Agreement (and,
if it does, all legal expenses and costs of such action shall be expenses and costs of the Trust Fund (and such costs and expenses
shall be allocated in accordance with the allocation provision of the Co-Lender Agreement), and the Trustee or the Certificate
Administrator, as applicable, shall be entitled, as provided in Section 3.06 hereof, to be reimbursed therefor from amounts
on deposit in the Collection Account or the Distribution Account and identified on the Trust Ledger, unless such legal action arises
out of the negligence or bad faith of the Trustee or Certificate Administrator, as applicable, or any breach of a representation
or warranty of the Trustee or Certificate Administrator, as applicable, contained herein);

 

(vi)          Neither
the Trustee nor the Certificate Administrator shall be charged with knowledge of any act, failure to act or breach of any Person
upon the occurrence of which the Trustee or Certificate Administrator, as applicable, may be required to act, unless a Responsible
Officer of the Trustee or Certificate Administrator, as applicable, obtains actual knowledge of such failure. Neither the Trustee
nor the Certificate Administrator shall be deemed to have actual knowledge of the Master Servicer’s or the Special Servicer’s
failure to provide scheduled reports, certificates and statements when and as required to be delivered to the Trustee or Certificate
Administrator, as applicable, pursuant to this Agreement; and

 

(vii)         Except
in the event of actual fraud (as determined by a non-appealable final court order), in no event shall the Trustee or the Certificate
Administrator, as applicable, be liable for special, punitive, indirect or consequential loss or damage of any kind whatsoever
(including but not limited to lost profits), even if the Trustee or the Certificate Administrator, as applicable, has been advised
of the likelihood of such loss or damage and regardless of the form of action.

 

None of the provisions contained
in this Agreement shall require either the Trustee, in its capacity as Trustee or the Certificate Administrator, in its capacity
as Certificate Administrator, to expend or risk its own funds, or otherwise incur financial liability in the performance of any
of its duties hereunder, or in the exercise of any of its rights or powers, if in the opinion of the Trustee or the Certificate
Administrator, as the case may be, the repayment of such funds or adequate indemnity against such risk or liability is not reasonably
assured to it, and none of the provisions contained in this Agreement shall in any event require the Trustee or the Certificate
Administrator, as the case may be, to perform, or be responsible for the manner of performance of, any of the obligations of the
Master Servicer or the Special Servicer under this Agreement, except, in the case of the Trustee, during such time, if any, as
the Trustee shall be the successor to, and be vested with the rights, duties, powers and privileges of, the Master Servicer or
the Special Servicer in accordance with the terms of this Agreement. Neither the Trustee nor the Certificate Administrator shall
be required to post any surety or bond of any kind in connection with its performance of its obligations under this Agreement and
neither the Trustee nor the Certificate Administrator shall be liable for any loss on any investment of funds pursuant to this
Agreement. Notwithstanding any other provision hereof, when acting as the Master

 

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Servicer or Special Servicer hereunder, the Trustee
and the Certificate Administrator shall comply with the Servicing Standard.

 

Section 8.02 Certain
Matters Affecting the Trustee and the Certificate Administrator. (a)  Except as otherwise provided in Section
8.01 of this Agreement:

 

(i)            The
Trustee and the Certificate Administrator may request and/or conclusively rely upon and shall be protected in acting or refraining
from acting upon any resolution, Officer’s Certificate, certificate of auditors or any other certificate, statement, instrument,
opinion, report, notice, request, consent, order, appraisal, bond or other paper or document reasonably believed by it to be genuine
and to have been signed or presented by the proper party or parties and neither the Trustee nor the Certificate Administrator shall
have any responsibility to ascertain or confirm the genuineness of any such party or parties;

 

(ii)           Each
of the Trustee and the Certificate Administrator may consult with counsel and the written advice of such counsel or 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 the written advice of such counsel or such Opinion of Counsel;

 

(iii)         (A) Neither
the Trustee nor the Certificate Administrator shall be under any obligation to exercise any of the trusts or powers vested in it
by this Agreement or to make any investigation of matters arising hereunder or institute, conduct or defend any litigation hereunder
or in relation hereto at the request, order or direction of any of the Certificateholders, pursuant to the provisions of this Agreement,
unless such Certificateholders shall have offered to the Trustee or the Certificate Administrator, as the case may be, reasonable
security or indemnity reasonably satisfactory to the Trustee or the Certificate Administrator, as the case may be, against the
costs, expenses and liabilities which may be incurred therein or thereby, provided that nothing contained herein shall relieve
the Trustee of the obligations, upon the occurrence of a Servicer Termination Event (which has not been cured or waived) of which
a Responsible Officer of the Trustee has actual knowledge, to exercise such of the rights and powers vested in it by this Agreement,
and to use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances
in the conduct of such person’s own affairs; and (B) the right of the Trustee and the Certificate Administrator to perform
any discretionary act enumerated in this Agreement shall not be construed as a duty, and the Trustee or the Certificate Administrator,
as the case may be, shall not be answerable for other than its negligence or willful misconduct in the performance of any such
act;

 

(iv)         None
of the Trustee, the Certificate Administrator or any of their directors, officers, employees, Affiliates, agents or “control”
persons within the meaning of the Act shall be personally liable for any action taken, suffered or omitted by it in good faith
and reasonably believed by the Trustee or the Certificate Administrator, as the case may be, to be authorized or within the discretion
or rights or powers conferred upon it by this Agreement;

 

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(v)          The
Trustee (if no Servicer Termination Event has occurred and is continuing) and the Certificate Administrator shall not be bound
to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, consent, order, appraisal, bond or other paper or document, unless requested in writing to do so by Holders of
Certificates entitled to greater than 25% (or such other percentage as is specified herein) of the Percentage Interests of each
affected Class; provided, however, that if the payment within a reasonable time to the Trustee or the Certificate
Administrator, as the case may be, of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation
is, in the opinion of the Trustee or the Certificate Administrator, as the case may be, not reasonably assured to the Trustee or
the Certificate Administrator, as the case may be, by the security afforded to it by the terms of this Agreement, the Trustee or
the Certificate Administrator, as the case may be, may require indemnity reasonably satisfactory to it from such requesting Holders
against such cost, expense or liability as a condition to taking any such action. The reasonable expense of every such investigation
shall be paid by the Master Servicer or the Special Servicer, as applicable, if a Servicer Termination Event shall have occurred
and be continuing relating to the Master Servicer or the Special Servicer, respectively, and otherwise by the Certificateholders
requesting the investigation; and

 

(vi)         The
Trustee and the Certificate Administrator may execute any of the trusts or powers hereunder and the Trustee and the Certificate
Administrator may perform any duties hereunder either directly or by or through agents, nominees, custodians or attorneys but shall
not be relieved of the obligations hereunder by virtue of the appointment of such agents, nominees, custodians or attorneys, provided,
however, that the Trustee or the Certificate Administrator, as the case may be, may not perform any duties hereunder through
any Person that is a Prohibited Party.

 

(b)           Following
the Startup Day, the Trustee and the Certificate Administrator shall not, except as expressly required by any provision of this
Agreement, accept any contribution of assets to the Trust Fund unless the Trustee or the Certificate Administrator shall have received
an Opinion of Counsel (the costs of obtaining such opinion to be borne by the Person requesting such contribution) to the effect
that the inclusion of such assets in the Trust Fund will not cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC at any time that any Certificates are outstanding, or subject the Lower-Tier REMIC or the Upper-Tier REMIC to any tax
under the REMIC Provisions or other applicable provisions of federal, state and local law or ordinances.

 

(c)           All
rights of action under this Agreement or under any of the Certificates, enforceable by the Trustee and the Certificate Administrator,
may be enforced by it without the possession of any of the Certificates, or the production thereof at the trial or other proceeding
relating thereto, and any such suit, action or proceeding instituted by the Trustee and the Certificate Administrator shall be
brought in its name for the benefit of all the Holders of such Certificates, subject to the provisions of this Agreement.

 

(d)           The
Trustee shall not have a duty to conduct any affirmative investigation as to the occurrence of any condition requiring the repurchase
of the Trust Loan by the Trust

 

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Loan
Sellers pursuant to this Agreement or the eligibility of the Trust Loan for purposes of this Agreement.

 

(e)           Each
of the Trustee and the Certificate Administrator shall be entitled to all of the same rights, protections, immunities and indemnities
afforded to it as Trustee and Certificate Administrator, as the case may be, in each capacity for which it serves hereunder (including,
without limitation, as Custodian, Certificate Registrar, 17g-5 Information Provider, Paying Agent and Authenticating Agent). For
the avoidance of doubt, the Certificate Administrator and the Trustee shall be entitled to all of the rights, protections, immunities
and indemnities afforded to it hereunder under.

 

(f)            In
order to comply with laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions,
including, without limitation, those relating to the funding of terrorist activities and money laundering, including Section 326
of the USA PATRIOT Act of the United States (“Applicable Law”), the Certificate Administrator (in each of its
capacities) and the Trustee, as the case may be, are required to obtain, verify and record certain information relating to individuals
and entities that maintain a business relationship with the Certificate Administrator (in each of its capacities) or the Trustee.
Accordingly, each of the parties hereto agrees to provide to the Certificate Administrator (in each of its capacities) and the
Trustee, upon its respective request from time to time, such identifying information and documentation as may be available for
such party in order to enable the Certificate Administrator (in each of its capacities) and the Trustee to comply with Applicable
Law.

 

Section 8.03 Trustee
and Certificate Administrator Not Liable for Certificates or the Trust Loan. The recitals contained herein and in the
Certificates shall not be taken as the statements of the Trustee, the Certificate Administrator, the Master Servicer, or the Special
Servicer and the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer assume no responsibility
for their correctness. The Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer make no representations
or warranties as to the validity or sufficiency of this Agreement, of the Certificates or any offering document used to offer
the Certificates for sale or the validity, enforceability or sufficiency of the Trust Loan, or related document. Neither the Trustee
nor the Certificate Administrator shall at any time have any responsibility or liability for or with respect to the legality,
validity and enforceability of the related Mortgage, the Trust Loan, or the perfection and priority of any Mortgage or the maintenance
of any such perfection and priority, or for or with respect to the sufficiency of the Trust Fund or its ability to generate the
payments to be distributed to Certificateholders under this Agreement. Without limiting the foregoing, neither the Trustee nor
the Certificate Administrator shall be liable or responsible for: (i) the existence, condition and ownership of the Mortgaged
Property; (ii) the existence of any hazard or other insurance thereon (other than if the Trustee shall assume the duties
of the Master Servicer or the Special Servicer pursuant to Section 7.02 of this Agreement) or the enforceability thereof;
(iii) the existence of the Trust Loan or the contents of the Mortgage File on any computer or other record thereof (other
than if the Trustee shall assume the duties of the Master Servicer or the Special Servicer pursuant Section 7.02 of this
Agreement); (iv) the validity of the assignment of the Trust Loan to the Trust Fund or of any intervening assignment; (v) the
completeness of the Mortgage File; the performance or enforcement of the Trust Loan (other than if the Trustee shall assume the
duties

 

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of the Master Servicer or the Special Servicer pursuant to Section 7.02 of this Agreement); (vi) the compliance
by the Depositor, the Master Servicer or the Special Servicer with any warranty or representation made under this Agreement or
in any related document or the accuracy of any such warranty or representation prior to the Trustee’s receipt of written
notice or other discovery of any non-compliance therewith or any breach thereof; (vii) any investment of monies by or at
the direction of the Master Servicer or any loss resulting therefrom, the acts or omissions of any of the Depositor, the Certificate
Administrator, the Master Servicer or the Special Servicer (other than if the Trustee shall assume the duties of the Certificate
Administrator, the Master Servicer or Special Servicer pursuant to Section 7.02 of this Agreement) or any Sub-Servicer
or the Borrower; any action of the Master Servicer or Special Servicer (other than if the Trustee shall assume the duties of the
Master Servicer or Special Servicer pursuant to Section 7.02 of this Agreement) or any Sub-Servicer taken in the name of
the Trustee, except to the extent such action is taken at the express written direction of the Trustee; (viii) the failure
of the Master Servicer or the Special Servicer or any Sub-Servicer to act or perform any duties required of them on behalf of
the Trust Fund or the Trustee hereunder; or (ix) any action by or omission of the Trustee or the Certificate Administrator
taken at the instruction of the Master Servicer or the Special Servicer (other than if the Trustee shall assume the duties of
the Master Servicer or the Special Servicer pursuant to Section 7.02 of this Agreement) unless the taking of such action
is not permitted by the express terms of this Agreement; provided, however, that the foregoing shall not relieve
the Trustee or the Certificate Administrator of their respective obligations to perform their duties as specifically set forth
in this Agreement. The Trustee or the Certificate Administrator shall not be accountable for the use or application by the Depositor,
the Certificate Administrator (in the case of the Trustee only), the Trustee (in the case of the Certificate Administrator only),
the Master Servicer or the Special Servicer of any of the Certificates or of the proceeds of such Certificates, or for the use
or application of any funds paid to the Depositor, the Certificate Administrator (in the case of the Trustee only), the Trustee
(in the case of the Certificate Administrator only), the Master Servicer or the Special Servicer in respect of the assignment
of the Trust Loan or deposited in or withdrawn from the Collection Account, the Lower-Tier Distribution Account, the Upper-Tier
Distribution Account, the Lock-Box Account, the Cash Collateral Account, the Reserve Accounts, any REO Account or any other account
maintained by or on behalf of the Certificate Administrator, the Master Servicer or the Special Servicer, other than any funds
held by the Trustee or the Certificate Administrator, as applicable. Neither the Trustee nor the Certificate Administrator shall
have any responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect
or maintain the perfection of any security interest or lien granted to it hereunder (unless the Trustee shall have become the
successor Master Servicer) or to record this Agreement. In making any calculation hereunder which includes as a component thereof
the payment or distribution of interest for a stated period at a stated rate “to the extent permitted by applicable law”,
the Trustee or the Certificate Administrator, as the case may be, shall assume that such payment is so permitted unless a Responsible
Officer of the Trustee or the Certificate Administrator, as the case may be, has actual knowledge, or receives an Opinion of Counsel
(at the expense of the Person asserting the impermissibility) to the effect, that such payment is not permitted by applicable
law. The Depositor is not obligated to monitor or supervise the performance of the Trustee or the Certificate Administrator under
this Agreement or otherwise.

 

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Section 8.04 Trustee
and Certificate Administrator May Own Certificates. The Trustee, the Certificate Administrator and any agent of the Trustee
or the Certificate Administrator in its individual capacity or any other capacity may become the owner or pledgee of Certificates,
and may deal with the Depositor, the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer and the
Initial Purchasers in banking transactions, with the same rights it would have if it were not Trustee, Certificate Administrator
or such agent, as the case may be.

 

Section 8.05 Payment
of Trustee’s and Certificate Administrator’s Fees and Expenses; Indemnification. (a)  On each Distribution
Date, prior to the distribution of amounts to the Certificateholders, the Certificate Administrator shall be entitled to withdraw
and pay the Trustee and itself its respective portion of the Trustee/Certificate Administrator Fee, as applicable, as reasonable
compensation from amounts remitted to the Lower-Tier Distribution Account (which shall not be limited by any provision of law
in regard to the compensation of a trustee of an express trust) for all services rendered in the execution of the trusts hereby
created and in the exercise and performance of any of the powers and duties of the Trustee and the Certificate Administrator at
the Trustee/Certificate Administrator Fee Rate.

 

(b)         In
the event that the Trustee assumes the servicing responsibilities of the Master Servicer or the Special Servicer hereunder pursuant
to or otherwise arising from the resignation or removal of the Master Servicer or the Special Servicer, the Trustee shall be entitled
to the compensation to which the Master Servicer or the Special Servicer, as the case may be, would have been entitled (other than
the rights of the Special Servicer to receive any Workout Fee specified in Section 3.12(c) of this Agreement in the event
that the Special Servicer is terminated).

 

(c)         The
Trustee, the Custodian and the Certificate Administrator shall be paid or reimbursed by the Trust Fund upon its request for all
reasonable expenses, disbursements and advances incurred or made by the Trustee, the Custodian or the Certificate Administrator
pursuant to and in accordance with any of the provisions of this Agreement (including the reasonable compensation and the expenses
and disbursements of its counsel and of all persons not regularly in its employ), which the Certificate Administrator will be entitled
to withdraw from the Distribution Accounts prior to the distribution to Certificateholders to the extent set forth herein and to
the extent such payments are “unanticipated expenses incurred by the REMIC” within the meaning of Treasury Regulations
Section 1.860G-1(b)(iii), except any such expense, disbursement or advance as may arise from its negligence, willful misconduct
or bad faith; provided, however, that, subject to the last paragraph of Section 8.01 and Section 8.02(a)(iii)
of this Agreement, the Trustee, the Custodian or the Certificate Administrator shall not refuse to perform any of their respective
duties hereunder solely as a result of the failure to be paid their respective portions of the Trustee/Certificate Administrator
Fee, or the Trustee’s previously-incurred expenses or, the Custodian’s or Certificate Administrator’s previously-incurred
expenses, as applicable. The term “unanticipated expenses incurred by the REMIC” shall include any fees, expenses and
disbursement of any separate Trustee or co-Trustee appointed hereunder, only to the extent such fees, expenses and disbursements
were not reasonably anticipated as of the Closing Date and are attributable to the Lower-Tier REMIC or the Upper-Tier REMIC and
the losses, liabilities, damages, claims or expenses (including reasonable attorneys’ fees) incurred or advanced by an Indemnified
Party in connection with any

 

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litigation arising out of this Agreement attributable to the Lower-Tier REMIC or the Upper-Tier REMIC,
including, without limitation, under Section 2.03, Section 3.10, the third paragraph of Section 3.11, Section
4.05 and Section 7.01 of this Agreement.

 

The Master Servicer and the
Special Servicer covenant and agree to pay or reimburse the Trustee for the reasonable expenses, disbursements and advances incurred
or made by the Trustee in connection with any transfer of the servicing responsibilities of the Master Servicer or the Special
Servicer, respectively, hereunder, pursuant to or otherwise arising from the resignation or removal of the Master Servicer or Special
Servicer (except in the case of removal of the Special Servicer without cause), as applicable, in accordance with any of the provisions
of this Agreement (and including the reasonable fees and expenses and disbursements of its counsel and all other persons not regularly
in its employ), except any such expense, disbursement or advance as may arise from the negligence, willful misconduct or bad faith
of the Trustee.

 

(d)         Each
of the Certificate Administrator, the Custodian, the Paying Agent, the Trustee, the Depositor, the Master Servicer and the Special
Servicer (each, for purposes of this Section 8.05(d), an “Indemnifying Party”) shall (severally and not
jointly) indemnify the Trustee (both in its capacity as Trustee and individually) and the Certificate Administrator (in its capacity
as Certificate Administrator, the Custodian, Paying Agent and individually) and each of their Affiliates and each of the directors,
officers, employees, representatives and agents of the Trustee and the Certificate Administrator and each of their Affiliates (each,
for purposes of this Section 8.05(d), an “Indemnified Party”), and hold each of them harmless against
any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any
other costs, fees and expenses that the Indemnified Party may sustain in connection with this Agreement (including, without limitation,
reasonable fees and disbursements of counsel incurred by the Indemnified Party in any action or proceeding between the Indemnifying
Party and the Indemnified Party or between the Indemnified Party and any third party or otherwise) resulting from each such Indemnifying
Party’s respective willful misconduct, bad faith, fraud or negligence in the performance of each of its respective duties
hereunder or by reason of negligent disregard of its respective obligations and duties hereunder (including in the case of the
Master Servicer, any agent of the Master Servicer or Sub-Servicer).

 

The Trust Fund shall indemnify
each Indemnified Party from, and hold it harmless against, any and all losses, liabilities, damages, penalties, fines, forfeitures,
judgments, claims or unanticipated expenses (including, without limitation, reasonable fees and disbursements of counsel incurred
by the Indemnified Party in any action or proceeding between the Indemnifying Party and the Indemnified Party or between the Indemnified
Party and any third party or otherwise) arising in respect of this Agreement, the Trust Loan or the Certificates other than those
(i) resulting from the willful misconduct, bad faith, fraud or negligence of the Indemnified Party, as applicable, in the
performance of its obligations and duties under this Agreement, (ii) by reason of its negligent disregard of those obligations
or duties, or as may arise from a breach of any representation or warranty of the Indemnified Party made in Section 2.04(c)
or Section 2.04(d), as applicable, of this Agreement, (iii) as to which such Indemnified Party is entitled to indemnification
pursuant to this Section 8.05(d) or (iv) constituting a specific liability imposed on the Indemnified Party by this
Agreement. The right of reimbursement of the

 

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Indemnified Parties under this Section 8.05(d) shall be senior to the rights
of all Certificateholders.

 

(e)         Notwithstanding
anything herein to the contrary, this Section 8.05 shall survive the termination or maturity of this Agreement or the resignation,
removal or termination of the Trustee or the Certificate Administrator, as the case may be, regarding rights accrued prior to such
resignation, removal or termination and (with respect to any acts or omissions during its respective tenures) the resignation,
removal or termination of the Master Servicer, the Special Servicer, the Paying Agent, the Certificate Administrator, the Certificate
Registrar or the Custodian.

 

(f)         This
Section 8.05 shall be expressly construed to include, but not be limited to, such indemnities, compensation, expenses, disbursements,
advances, losses, liabilities, damages and the like, as may pertain or relate to any environmental law or environmental matter.

 

(g)         Each
of the Certificate Administrator, Custodian, Paying Agent and the Trustee (in each case with respect to itself only, for purposes
of this Section 8.05(g), an “Indemnifying Party”) shall (severally and not jointly) indemnify the
Trust Fund, the Depositor, the Master Servicer and the Special Servicer and their respective Affiliates and each of the directors,
officers, employees and agents of the Master Servicer and the Special Servicer and their respective Affiliates (each, for purposes
of this Section 8.05(g), an “Indemnified Party”), and hold each of them harmless against any and all
claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs,
fees and expenses that the Indemnified Party may sustain in connection with this Agreement (including, without limitation reasonable
fees and disbursements of counsel incurred by the Indemnified Party in any action or proceeding between the Indemnifying Party
and the Indemnified Party or between the Indemnified Party and any third party or otherwise) resulting from the applicable Indemnifying
Party’s willful misconduct, bad faith, fraud or negligence in the performance of its duties hereunder or by reason of negligent
disregard of its obligations and duties hereunder.

 

(h)         The
Certificate Administrator (for purposes of this Section 8.05(h), the “Indemnifying Party”) shall, solely
in its capacity as the 17g-5 Information Provider, indemnify each of the Trust Loan Sellers and the Initial Purchasers (each, for
purposes of this Section 8.05(h), an “Indemnified Party”), and hold each of them harmless against any
and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other
costs, fees and expenses that the Indemnified Party may sustain in connection with this Agreement (including, without limitation
reasonable fees and disbursements of counsel incurred by the Indemnified Party in any action or proceeding between the Indemnifying
Party and the Indemnified Party or between the Indemnified Party and any third party or otherwise) related to (i) the applicable
Indemnifying Party’s willful misconduct, bad faith, fraud or negligence in the performance of its duties hereunder or by
reason of negligent disregard of its obligations and duties hereunder or (ii) a determination by any Rating Agency that it
cannot reasonably rely on representations made by the Depositor or any Affiliate thereof pursuant to Exchange Act Rule 17g-5(a)(3),
to the extent caused by any such willful misconduct, bad faith, fraud or negligence in the performance of its duties hereunder
or by reason of negligent disregard referred to in clause (i) above by the Indemnifying Party.

 

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Section 8.06 Eligibility
Requirements for Trustee and Certificate Administrator. The Trustee and Certificate Administrator hereunder shall at
all times:

 

(i) be a
corporation, national bank, national banking association or trust company organized and doing business under the laws of any state
or the United States of America,

 

(ii) (a)
with respect to the Trustee, be authorized under such laws to exercise corporate trust powers and to accept the trust conferred
under this Agreement and (b) with respect to the Certificate Administrator, be authorized to exercise corporate trust powers,

 

(iii) have
a combined capital and surplus of at least $50,000,000,

 

(iv) (A)
have a rating on its long-term senior unsecured debt of at least (1) “A” by S&P, provided that the Certificate
Administrator and the Trustee shall not become ineligible to serve based on a failure to satisfy such rating requirement as long
as the Certificate Administrator and the Trustee, as applicable, have a long-term senior unsecured debt rating of at least “BBB”
by S&P and if, in the case of the Trustee, the Master Servicer maintains a long-term senior unsecured debt rating of at least
“A” by S&P (provided that this proviso shall not impose on the Master Servicer any obligation to maintain such
rating), (2) “A2” by Moody’s, provided that the Certificate Administrator and the Trustee shall not become
ineligible to serve based on a failure to satisfy such rating requirement as long as the Certificate Administrator and the Trustee,
as applicable, have a long-term unsecured debt rating of “Baa3” by Moody’s or a short-term unsecured debt rating
of “P-2” by Moody’s and if, in the case of the Trustee, the Master Servicer maintains a long-term unsecured debt
rating of at least “A2” by Moody’s (provided that this proviso shall not impose on the Master Servicer any obligation
to maintain such rating) and (3) at least an equivalent rating by KBRA, if then rated by KBRA, and (with respect to Moody’s,
or) (B) whose short-term unsecured debt is rated at least (1) “A-1” by S&P, provided, in each case, that
the Certificate Administrator and the Trustee shall not become ineligible to serve based on a failure to satisfy such rating requirement
as long as the Certificate Administrator and the Trustee, as applicable, have a short-term unsecured debt rating of at least “A-2”
by S&P and if, in the case of the Trustee, the Master Servicer maintains a long-term unsecured debt rating of at least “A”
by S&P (provided that this proviso shall not impose on the Master Servicer any obligation to maintain such rating), (2) “P-1”
by Moody’s, provided that the Certificate Administrator and the Trustee shall not become ineligible to serve based
on a failure to satisfy such rating requirement as long as the Certificate Administrator and the Trustee, as applicable, have a
long-term unsecured debt rating of “Baa3” by Moody’s or a short-term unsecured debt rating of “P-2”
by Moody’s and if, in the case of the Trustee, the Master Servicer maintains a long-term unsecured debt rating of at least
“A2” by Moody’s (provided that this proviso shall not impose on the Master Servicer any obligation to maintain
such rating) and (3) at least an equivalent rating by KBRA, if then rated by KBRA, or (C) such other rating with respect to which
the applicable Rating Agency (and Moody’s if it is rating any security backed by a Companion Loan) has provided a No Downgrade
Confirmation,

 

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(v) be subject
to supervision or examination by federal or state authority and, in the case of the Trustee, shall not be an Affiliate of the Master
Servicer or the Special Servicer (except, in the case of the Trustee, during any period when the Trustee has assumed the duties
of the Master Servicer or Special Servicer, as the case may be, pursuant to Section 7.02 of this Agreement), and

 

(vi) not
be a person that would be a Prohibited Party if it was a proposed Servicing Function Participant.

 

Notwithstanding the foregoing,
if the Trustee or the Certificate Administrator meets the provisions of clauses (i) through (iii), (v)
and (vi) above, but does not meet the provisions of clause (iv) above, the Trustee or the Certificate Administrator,
as the case may be, shall be deemed to meet the provisions of such clause (iv) (A) if it appoints a fiscal agent as
a back-up liquidity provider, provided that such fiscal agent meets the provisions of clauses (i) through (vi)
above and shall have assumed in writing all obligations of the Trustee or the Certificate Administrator, as the case may be, to
make Advances under this Agreement as and when required of the Trustee or the Certificate Administrator, as the case may be, or
(B) in the case of Wilmington Trust, National Association solely with respect to Moody’s, a long-term senior unsecured debt
rating of at least “Baa3” by Moody’s if the Master Servicer has a long-term senior unsecured debt rating of at
least “A2” by Moody’s and a short-term debt rating of at least “P-1” by Moody’s. If a corporation
or association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising
or examining authority, then for purposes of this Section the combined capital and surplus of such corporation shall be deemed
to be its combined capital and surplus as set forth in its most recent report of condition so published. If the place of business
from which the Trustee administers the Trust Fund is a state or local jurisdiction that imposes a tax on the Trust Fund or the
net income of either Trust REMIC (other than a tax corresponding to a tax imposed under the REMIC Provisions) the Trustee shall
elect either to (i) resign immediately in the manner and with the effect specified in Section 8.07 of this Agreement,
(ii) pay such tax and continue as Trustee or (iii) administer the Trust Fund from a state and local jurisdiction that
does not impose such a tax. If at any time the Trustee or the Certificate Administrator shall cease to be eligible in accordance
with the provisions of this Section, the Trustee or the Certificate Administrator, as the case may be, shall resign immediately
in the manner and with the effect specified in Section 8.07 of this Agreement.

 

Section 8.07 Resignation
and Removal of Trustee and Certificate Administrator. The Trustee and the Certificate Administrator may at any time resign
and be discharged from the trusts hereby created by giving written notice thereof to the Trustee, the Depositor, the Certificate
Administrator, the Master Servicer, the Special Servicer, the 17g-5 Information Provider (which shall promptly post such notice
to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement); provided that
such resignation shall not be effective until its successor shall have accepted the appointment. Upon notice of resignation from
the Trustee, the Depositor shall promptly appoint a successor trustee acceptable to the Master Servicer, the appointment of which
successor is subject to the requirements contained in Section 8.06 of this Agreement. Upon notice of resignation from the
Certificate Administrator, the Trustee shall promptly appoint a successor certificate administrator, the appointment of which
is subject to the requirements contained in Section 8.06 of this Agreement. If no

 

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successor
trustee or certificate administrator shall have been so appointed and have accepted appointment within 30 days after the giving
of such notice of resignation, the resigning Trustee or Certificate Administrator, as the case may be, may petition any court
of competent jurisdiction for the appointment of a successor. The Trustee or the Certificate Administrator, as applicable, shall
bear all reasonable out of pocket costs and expenses of each other party hereto and each Rating Agency in connection with its
resignation.

 

If at any time the Trustee
or the Certificate Administrator shall cease to be eligible in accordance with the provisions of Section 8.06 of this Agreement
and shall fail to resign after written request therefor by the Depositor or the Master Servicer, or if at any time the Trustee
or the Certificate Administrator shall become incapable of acting, or shall be adjudged bankrupt or insolvent, or a receiver of
the Trustee or the Certificate Administrator, as the case may be (or of its property), shall be appointed, or any public officer
shall take charge or control of the Trustee or the Certificate Administrator, as the case may be (or of its property or affairs),
for the purpose of rehabilitation, conservation or liquidation, then the Depositor or the Master Servicer may remove the Trustee
or the Certificate Administrator, as the case may be, and the Depositor or the Master Servicer shall promptly appoint a successor
by written instrument, which shall be delivered to the Trustee or the Certificate Administrator, as the case may be, so removed
and to the successor.

 

The Holders of Certificates
entitled to at least 50% of the Voting Rights may at any time remove the Trustee or the Certificate Administrator and appoint a
successor by written instrument or instruments, in seven originals, signed by such Holders or their attorneys-in-fact duly authorized,
one complete set of which instruments shall be delivered to the Depositor, one complete set to the Master Servicer and Special
Servicer, one complete set to the Trustee, one complete set to the Certificate Administrator, and one complete set to the successor
trustee or certificate administrator, as applicable.

 

In addition, if the Trustee
or the Certificate Administrator is terminated without cause, the terminating party shall pay all of the expenses of the Trustee
or the Certificate Administrator, as the case may be, necessary to affect the transfer of its responsibilities to the successor.

 

In the event that the Trustee
is terminated or removed pursuant to this Section 8.07, all of its rights and obligations under this Agreement and in and
to the Trust Loan shall be terminated, other than any rights or obligations that accrued prior to the date of such termination
or removal (including the right to receive all fees, expenses, indemnities, and other amounts accrued or owing to it under this
Agreement, plus interest at the Advance Rate on all such amounts until received to the extent such amounts bear interest as provided
in this Agreement, with respect to periods prior to the date of such termination or removal) and such resignation, termination,
or removal shall be effective with respect to each of its other capacities hereunder.

 

In the event that the Certificate
Administrator is terminated or removed pursuant to this Section 8.07, (i) all of its rights and obligations under this Agreement
and in and to the Trust Loan shall be terminated, other than any rights or obligations that accrued prior to the date of such termination
or removal (including the right to receive all fees, indemnities, expenses and other amounts accrued or owing to it under this
Agreement with respect to periods prior to the date of such termination or removal) and (ii) such resignation, termination, or
removal shall be

 

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effective
with respect to each of its other capacities hereunder except its capacity as Custodian (but including, without limitation, its
capacities as Certificate Registrar, 17g-5 Information Provider, Paying Agent and Authentication Agent).

 

Upon the resignation, assignment,
or transfer of the Trustee or its business to a successor, or upon the termination of the Trustee, (a) the outgoing Trustee, at
its own expense without right to reimbursement therefor, shall (A) endorse the original executed Trust Note for the Trust Loan
(to the extent that the original executed note for the Trust Loan was endorsed to the outgoing Trustee), without recourse, representation
or warranty, express or implied, to the order of the successor, as trustee for the registered holders of DBJPM 2016-SFC Mortgage
Trust Commercial Mortgage Pass-Through Certificates or in blank, and (B) in the case of the other assignable Loan Documents (to
the extent other Loan Documents were assigned to the outgoing Trustee), assign and record Loan Documents to such successor, and
such successor shall review the documents delivered to it or to the Custodian with respect to the Trust Loan, and certify in writing
that, as to the Trust Loan then subject to this Agreement, such endorsement and assignment has been made; (b) if any original executed
Trust Note for the Trust Loan was not endorsed to the outgoing Trustee, the Custodian shall deliver the Trust Note to the successor
trustee and the Custodian shall cooperate with any successor trustee to ensure that the Trust Note is endorsed (without recourse,
representation and warranty, express or implied) to the order of the successor trustee, as trustee for the registered holders of
DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates, or in blank. If any assignable Loan Document (other
than the Trust Note) was not assigned to the outgoing Trustee or if the Trustee is removed pursuant to Section 8.07 without
cause, with respect to the Loan Documents identified in clause (B) of the preceding sentence, the Custodian shall deliver
the Loan Document to the successor trustee and, if appropriate the Loan Documents shall be recorded at the expense of the Trust
and the reasonable cooperation (as determined by the Depositor) of the Depositor.

 

Section 8.08 Successor
Trustee and Certificate Administrator. (a)  Any successor trustee or certificate administrator shall execute,
acknowledge and deliver to the Depositor, the Master Servicer, the Certificate Administrator (or in the case of a successor certificate
administrator, to the predecessor Certificate Administrator) and the Trustee, as the case may be, instruments accepting their
appointment hereunder, and thereupon the resignation or removal of the predecessor Trustee or Certificate Administrator, as applicable,
shall become effective and such successor, without any further act, deed or conveyance, shall become fully vested with all the
rights, powers, duties and obligations of its predecessor hereunder, with the like effect as if originally named as Trustee or
Certificate Administrator, as applicable, herein, provided that such successor shall satisfy the requirements contained
in Section 8.06 of this Agreement. The predecessor Trustee or Certificate Administrator, as applicable, shall deliver to
its successor all Mortgage Files and related documents and statements held by it hereunder, and the Depositor and the predecessor
Trustee or Certificate Administrator, as applicable, shall execute and deliver such instruments and do such other things as may
reasonably be required for more fully and certainly vesting and confirming in the successor all such rights, powers, duties and
obligations. No successor trustee or certificate administrator, as the case may be, shall accept appointment as provided in this
Section 8.08 unless at the time of such acceptance such successor shall be eligible under the provisions of Section
8.06 of this Agreement.

 

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Upon acceptance of appointment
by a successor trustee as provided in this Section 8.08, the Depositor shall mail notice of the succession of such Trustee
hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If the Depositor fails to mail
such notice within 10 days after acceptance of appointment by the successor trustee, the successor trustee shall cause such notice
to be mailed at the expense of the Depositor.

 

(b)         Any
successor trustee appointed pursuant to this Agreement shall satisfy the eligibility requirements set forth in Section 8.06
hereof.

 

Section 8.09 Merger
or Consolidation of Trustee or Certificate Administrator. Any corporation into which the Trustee or the Certificate Administrator
may be merged or converted or with which it may be consolidated or any corporation resulting from any merger, conversion or consolidation
to which the Trustee or the Certificate Administrator shall be a party, or any corporation succeeding to all or substantially
all of the corporate trust business of the Trustee or the Certificate Administrator, shall be the successor of the Trustee or
the Certificate Administrator, as the case may be, hereunder, provided that such corporation shall be eligible under the
provisions of Section 8.06 of this Agreement without the execution or filing of any paper or any further act on the part
of any of the parties hereto, anything herein to the contrary notwithstanding. The Trustee or the Certificate Administrator, as
applicable, will notify the other parties hereto, and the Certificate Administrator shall post notice of such merger or consolidation
to the Certificate Administrator’s Website in accordance with Section 3.14(d) of this Agreement and provide notice
of such event to the Master Servicer, the Special Servicer, the Depositor, the 17g-5 Information Provider (which shall promptly
post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement).

 

Section
8.10 Appointment of Co-Trustee or Separate Trustee. Notwithstanding any other provisions hereof, at any time, for
the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Fund or property securing
the same may at the time be located, the Depositor and the Trustee acting jointly shall have the power and shall execute and
deliver all instruments to appoint one or more Persons approved by the Trustee to act (at the expense of the Trust) as
co-Trustee or co-Trustees, jointly with the Trustee, or separate Trustee or separate Trustees, of all or any part of the
Trust Fund, and to vest in such Person or Persons, in such capacity, such title to the Trust Fund, or any part thereof, and,
subject to the other provisions of this Section 8.10, such powers, duties, obligations, rights and trusts as the
Depositor and the Trustee may consider necessary or desirable. If the Depositor shall not have joined in such appointment
within 15 days after the receipt by it of a request so to do, or in case a Servicer Termination Event shall have occurred and
be continuing, the Trustee alone shall have the power to make such appointment. No co-Trustee or separate Trustee hereunder
shall be required to meet the terms of eligibility as a successor Trustee under Section 8.06 hereunder and no notice
to Holders of Certificates of the appointment of co-Trustee(s) or separate Trustee(s) shall be required under Section
8.08 hereof.

 

In the case of any appointment
of a co-Trustee or separate Trustee pursuant to this Section 8.10, all rights, powers, duties and obligations conferred
or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee and such separate Trustee
or co-Trustee jointly (it being understood that such separate Trustee or co-Trustee is not authorized to act separately without
the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts
are to be performed (whether

 

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as Trustee hereunder or as successor to the Master Servicer hereunder), the Trustee shall be incompetent
or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of
title to the Trust Fund or any portion thereof in any such jurisdiction) shall be exercised and performed by such separate Trustee
or co-Trustee solely at the direction of the Trustee.

 

No Trustee under this Agreement
shall be personally liable by reason of any act or omission of any other trustee under this Agreement; provided that except
as required by applicable law, the appointment of a co-Trustee or separate Trustee shall not relieve the Trustee of its responsibilities,
obligations and liabilities hereunder. The Depositor and the Trustee acting jointly may at any time accept the resignation of or
remove any separate Trustee or co-Trustee, or if the separate Trustee or co-Trustee is an employee of the Trustee, the Trustee
acting alone may accept the resignation of or remove any separate Trustee or co-Trustee.

 

Any notice, request or other
writing given to the Trustee shall be deemed to have been given to each of the then separate Trustees and co-Trustees, as effectively
as if given to each of them. Every instrument appointing any separate Trustee or co-Trustee shall refer to this Agreement and the
conditions of this Article VIII. Every such instrument shall be filed with the Trustee. Each separate Trustee and co-Trustee,
upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment,
either jointly with the Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically
including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to,
the Trustee. In no event shall any such separate Trustee or co-Trustee be entitled to any provision relating to the conduct of,
affecting the liability of or affording protection to such separate Trustee or co-Trustee that imposes a standard of conduct less
stringent than that imposed by the Trustee hereunder, affording greater protection than that afforded to the Trustee hereunder
or providing a greater limit on liability than that provided to the Trustee hereunder.

 

Any separate Trustee or co-Trustee
may, at any time, constitute the Trustee its agent or attorney-in-fact, with full power and authority, to the extent not prohibited
by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate Trustee or co-Trustee
shall die, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall
vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor Trustee.

 

ARTICLE
IX

TERMINATION

 

Section 9.01  Termination. (a)  The
respective obligations and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator
and the Trustee created hereby with respect to the Certificates (other than the obligations of the Certificate Administrator to
make certain payments and to send certain notices to Certificateholders as hereinafter set forth) shall terminate upon payment
(or provision for payment) to the Certificateholders and Companion Loan Holders of all amounts held by or on behalf of the Trustee,
the Certificate Administrator and the Master Servicer, as the case may be,

 

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required
hereunder to be so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Trust Loan and
all other property held by the Trust Fund in accordance with Section 9.01(c) of this Agreement; (ii) the exchange
by the Sole Certificateholder of its Certificates for the Trust Loan in accordance with Section 9.01(g) of this Agreement;
and (iii) the later of (a) the receipt or collection of the last payment due on the Trust Loan included in the Trust
Fund, or (b) the liquidation and disposition pursuant to this Agreement of the last asset held by the Trust Fund; provided,
however, that in no event shall the trust created hereby continue beyond the expiration of twenty-one years from the death
of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom,
living on the date hereof.

 

For purposes of this Section
9.01, the Sole Certificateholder shall have the first option to terminate the Trust Fund, pursuant to subsection (g),
and then the Directing Holder and then the Special Servicer and then the Master Servicer and then the Holder of a majority Percentage
Interest in the Class R and Class LR Certificates, in that order, pursuant to subsection (c).

 

(b)         The
Trust Fund, the Lower-Tier REMIC and the Upper-Tier REMIC shall be terminated and the assets of the Trust Fund shall be sold or
otherwise disposed of in connection therewith, only pursuant to a “plan of complete liquidation” within the meaning
of Section 860F(a)(4)(A) of the Code providing for the actions contemplated by the provisions hereof and pursuant to
which the applicable Notice of Termination is given, and requiring that the Trust Fund, the Lower-Tier REMIC and the Upper-Tier
REMIC shall terminate on a Distribution Date occurring not more than 90 days following the date of adoption of the plan of complete
liquidation. For purposes of this Section 9.01(b), the Notice of Termination given pursuant to Section 9.01(c) of
this Agreement shall constitute the adoption of the plan of complete liquidation as of the date such notice is given, which date
shall be specified by the Certificate Administrator (based on information provided by the Master Servicer) in the final federal
income tax returns of the Upper-Tier REMIC and the Lower-Tier REMIC. Notwithstanding the termination of the Lower-Tier REMIC or
the Upper-Tier REMIC or the Trust Fund, the Certificate Administrator shall be responsible for filing the final Tax Returns for
each Trust REMIC for the period ending with such termination, and shall retain books and records with respect to each Trust REMIC
for the same period of retention for which it maintains its own tax returns or such other reasonable period. The Trustee shall
sign all Tax Returns and other reports required by this Section.

 

(c)         The
Directing Holder and if the Directing Holder does not exercise such option, then the Special Servicer and if the Special
Servicer does not exercise such option, then the Master Servicer, and if the Master Servicer does not exercise such option,
then the Holder of a majority Percentage Interest in the Class R and Class LR Certificates, may effect an early termination
of the Trust Fund (provided that such party has provided fifteen (15) Business Days’ prior notice to each of the parties
with such option and none of the parties with a higher priority has elected to exercise such option within such 15 Business Day
period), upon not less than 30 days’ prior Notice of Termination (which Notice of Termination shall satisfy the notice requirement
of the proviso) given to the Trustee, the Certificate Administrator, the Special Servicer and the Master Servicer any time on or
after the Early Termination Notice Date specifying the Anticipated Final Termination Date, by purchasing on such date all, but
not less

 

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than
all, of the Trust Loan then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of
the Trust Loan, at a purchase price, payable in cash, equal to the greater of,

 

(i)           the
sum of, without duplication

 

(A)         the
outstanding principal balance of the Trust Loan as of the last day of the month preceding such Anticipated Final Termination Date
(less any P&I Advances previously made on account of principal);

 

(B)         the
fair market value of all other property included in the Trust Fund as of the last day of the month preceding such Anticipated Final
Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer as of a date not more than 30 days
prior to the last day of the month preceding such Distribution Date;

 

(C)         all
unpaid interest accrued on the outstanding principal balance of the Trust Loan (including circumstances where title to the Mortgaged
Property has been acquired) at the Trust Loan Rate to the last day of the Interest Accrual Period preceding such Anticipated
Final Termination Date (less any P&I Advances previously made on account of interest);

 

(D)         the
aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid Servicing Compensation, Special
Servicing Compensation, Trustee/Certificate Administrator Fees, the CREFC® License Fee and Trust Fund expenses and
indemnity amounts owed by the Trust; and

 

(ii)           the
aggregate fair market value of the Trust Loan, and all other property acquired in respect of the Trust Loan in the Trust Fund,
on the last day of the month preceding such Distribution Date, as determined by an Independent appraiser acceptable to the Master
Servicer as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date, together with
one month’s interest thereon at the Trust Loan Rate.

 

In the event that the Directing
Holder, the Special Servicer, the Master Servicer or the Holder of a majority Percentage Interest in the Class R or Class LR Certificates
purchases the Trust Loan and all property acquired in respect of the Trust Loan remaining in the Trust Fund in accordance with
this Section 9.01(c), the Directing Holder, the Special Servicer, the Master Servicer or the Holder of a majority Percentage
Interest in the Class R and Class LR Certificates, as applicable, shall deposit in the Lower-Tier Distribution Account not later
than the Servicer Remittance Date relating to the Anticipated Final Termination Date on which the final distribution on the Certificates
is to occur, an amount in immediately available funds equal to the above-described purchase price (exclusive of any portion thereof
payable to any Person other than the Certificateholders pursuant to Section 3.05(a) of this Agreement, which portion shall
be deposited in the Collection Account). In addition, the Master Servicer shall transfer to the Certificate Administrator for deposit
in the Lower-Tier Distribution Account all amounts required to be transferred thereto on the Servicer Remittance Date from the
Collection Account, together with any other amounts on deposit in the Collection Account that would otherwise be

 

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held
for future distribution. The Certificate Administrator shall deposit all amounts deposited into the Lower-Tier Distribution Account
into the Upper-Tier Distribution Account for distribution in accordance with Section 4.01(a) and (b) of this Agreement.
Upon confirmation that such final deposits have been made and upon direction from the Master Servicer, the Custodian shall, release
or cause to be released to the Directing Holder, the Special Servicer, the Master Servicer or the Holder of a majority Percentage
Interest in the Class R or Class LR Certificates, as applicable, the Mortgage File for the Trust Loan and shall execute all assignments,
endorsements and other instruments furnished to it by such purchasing party as shall be necessary to effectuate transfer of the
Trust Loan and all property acquired in respect of the Trust Loan remaining in the Trust Fund, and the Trust Fund shall be liquidated
in accordance with this Article IX.

 

As a condition to the purchase
of the assets of the Trust Fund pursuant to this Section 9.01(c), the purchaser shall deliver to the Trustee and the Certificate
Administrator an Opinion of Counsel, which shall be at the expense of such purchaser, stating that such termination will be a “qualified
liquidation” under Section 860F(a)(4)(A) of the Code. All costs and expenses incurred by any and all parties to this
Agreement or by the Trust Fund in connection with the purchase of the Trust Loan and other assets of the Trust Fund pursuant to
this Section 9.01(c) shall be borne by the party exercising its purchase rights hereunder. The Trustee and the Certificate
Administrator shall be entitled to rely conclusively on any determination made by an Independent appraiser pursuant to this subsection
(c).

 

(d)         If
the Trust Fund has not been previously terminated pursuant to subsection (c) of this Section 9.01, the Certificate
Administrator shall determine as soon as practicable the Distribution Date on which the Certificate Administrator reasonably anticipates,
based on information with respect to the Trust Loan previously provided to it, that the final distribution will be made (i) to
the Holders of outstanding Regular Certificates, notwithstanding that such distribution may be insufficient to distribute in full
the Certificate Balance of each Class of Certificates, together with amounts required to be distributed on such Distribution Date
pursuant to Section 4.01(b) of this Agreement and (ii) if no such Classes of Certificates are then outstanding, the
final distribution shall be made (i) to the Holders of the Class LR Certificates of any amount remaining in the Collection
Account or the Lower-Tier Distribution Account, and (ii) to the Holders of the Class R Certificates of any amount remaining
in the Upper-Tier Distribution Account.

 

(e)         Notice
of any termination of the Trust Fund pursuant to this Section 9.01 shall be mailed by the Certificate Administrator to affected
Certificateholders with a copy to the Trustee, the Master Servicer, the Companion Loan Holders and the 17g-5 Information Provider
(which shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of
this Agreement) at their addresses shown in the Certificate Registrar not more than 30 days, and not less than ten days, prior
to the Anticipated Final Termination Date. The notice mailed by the Certificate Administrator to affected Certificateholders shall:

 

(i)           specify
the Anticipated Final Termination Date on which the final distribution is anticipated to be made to Holders of Certificates of
the Classes specified therein;

 

(ii)           specify
the amount of any such final distribution, if known; and

 

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(iii)          state
that the final distribution to Certificateholders will be made only upon presentation and surrender of Certificates at the office
of the Paying Agent therein specified.

 

If the Trust Fund is not terminated on any Anticipated
Final Termination Date for any reason, the Certificate Administrator shall promptly mail notice thereof to each affected Certificateholder.

 

(f)           Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall be set aside and held
in trust for the account of the appropriate non-tendering Certificateholders, whereupon the Trust Fund shall terminate. If any
Certificates as to which notice of the Termination Date has been given pursuant to this Section 9.01 shall not have been
surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail
a second notice to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to surrender their
Certificates for cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within
one year after the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator
may, directly or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of their
Certificates. The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid out of the assets
which remain held. If within two years after the second notice any Certificates shall not have been surrendered for cancellation,
the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator hereunder and the transfer of such amounts to a successor certificate administrator and (ii) the termination of the
Trust Fund and distribution of such amounts, subject to applicable law, to the Residual Certificateholders. No interest shall accrue
or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender its
Certificate(s) for final payment thereof in accordance with this Section 9.01.

 

(g)          The Sole Certificateholder
shall have the right to exchange all of its Certificates (other than the Class R and Class LR Certificates), including the Class
X Certificates, for the Trust Loan or REO Property, as applicable, as contemplated by clause (ii) of Section 9.01(a)
by giving written notice to all the parties hereto no later than 60 days prior to the anticipated date of exchange; provided
that such Sole Certificateholder compensates the Certificate Administrator for the amount of investment income the Certificate
Administrator would have earned if the outstanding Certificate Balance of the then outstanding Principal Balance Certificates were
on deposit with the Certificate Administrator as of the first day of the current calendar month and such Sole Certificateholder
pays to the Master Servicer as additional compensation an amount equal to (i) the product of (A) the Prime Rate, (B) the aggregate
Certificate Balance of the then-outstanding Principal Balance Certificates as of the day of the exchange and (C) three, divided
by (ii) 360. In the event that the Sole Certificateholder elects to exchange all of its Certificates (other than the Class R and
Class LR Certificates), including the Class X Certificates, for the Trust Loan and or REO Property, as applicable, remaining in
the Trust Fund in accordance with the preceding sentence, such Sole Certificateholder, not later than the Business Day prior to
the Distribution Date on which the final distribution on the Certificates is to occur, shall deposit in the Collection Account
an amount in immediately available funds

 

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equal to all amounts due and owing to the Depositor, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Trustee hereunder through the date of the liquidation of the Trust Fund that may
be withdrawn from the Collection Account, or an escrow account acceptable to the respective parties hereto, pursuant to Section
3.06(a) of this Agreement or that may be withdrawn from the Distribution Accounts pursuant to Section 3.06(f) and Section
3.06(g) of this Agreement, but only to the extent that such amounts are not already on deposit in the Collection Account. In
addition, the Master Servicer shall transfer all amounts required to be transferred to the Certificate Administrator for deposit
in the Lower-Tier Distribution Account on or Servicer Remittance Date from the Collection Account pursuant to Section 3.05
of this Agreement. Upon confirmation from the Certificate Administrator that such final deposits have been made and following the
surrender of all its Certificates (other than the Class R and Class LR Certificates) on the final Distribution Date to the Certificate
Administrator, the Custodian shall, upon receipt of a Request for Release from the Master Servicer, release or cause to be released
to the Sole Certificateholder or any designee thereof, the Mortgage File for the Trust Loan or shall execute all assignments, endorsements
and other instruments furnished to it by the Sole Certificateholder as shall be necessary to effectuate transfer of the Trust Loan
and REO Property, as applicable remaining in the Trust Fund, and the Trust Fund shall be liquidated in accordance with this Article
IX. The Trust Loan or REO Property, as applicable, is deemed distributed to the Sole Certificateholder in liquidation of the Trust
Fund pursuant to this Article IX. Solely for federal income tax purposes, the Sole Certificateholder shall be deemed to have purchased
the assets of the Lower-Tier REMIC for an amount equal to (a) if the Trust Loan is a Performing Loan, the remaining Certificate
Balance of its Certificates (other than the Class R and Class LR Certificates), plus accrued, unpaid interest with respect thereto,
or (b) if the Trust Loan is a Specially Serviced Loan or has been converted to REO Property, the fair market value thereof, and
the Certificate Administrator shall credit such amounts against amounts distributable in respect of the Lower-Tier Regular Interests
and such Certificates.

 

ARTICLE
X

MISCELLANEOUS PROVISIONS

 

Section 10.01 Counterparts. This
Agreement may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be an
original, and such counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a
signature page of this Agreement in Portable Document Format (PDF) or by facsimile transmission shall be as effective as
delivery of a manually executed original counterpart of this Agreement.

 

Section
10.02 Limitation on Rights of Certificateholders. The death
or incapacity of any Certificateholder shall not operate to terminate this Agreement or the Trust Fund, or entitle such
Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any
court for a partition or winding up of the Trust Fund, or otherwise affect the rights, obligations and liabilities of the
parties hereto or any of them.

 

No Certificateholder shall have
any right to vote (except as expressly provided for herein) or in any manner otherwise control the operation and management of
the Trust Fund, or the obligations of the parties hereto, and nothing herein set forth, or contained in the terms of the

 

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Certificates,
shall be construed so as to constitute the Certificateholders from time to time as partners or members of an association; and no
Certificateholder shall be under any liability to any third person by reason of any action taken by the parties to this Agreement
pursuant to any provision hereof.

 

No Certificateholder shall have
any right to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement, the
Trust Loan or the Certificates, unless such Certificateholder previously shall have given to the Trustee a written notice of default
and of the continuance thereof, as hereinbefore provided, and unless also the Certificateholders representing Percentage Interests
of at least 25% of each affected Class of Certificates, as applicable, has or have made written request upon the Trustee to institute
such action, suit or proceeding in its own name as Trustee hereunder and has or have offered to the Trustee such security or indemnity
reasonably satisfactory to it as it may require against the costs, expenses and liabilities to be incurred therein or thereby,
and the Trustee, for 60 days after its receipt of such notice, request and offer of security or indemnity, shall have failed or
refused to institute any such action, suit or proceeding. It is understood and intended, and expressly covenanted by each Certificateholder
with every other Certificateholder and the Trustee, that no Certificateholder of any Class shall have any right in any manner whatever
by virtue of any provision of this Agreement to affect, disturb or prejudice the rights of the Holders of any other of such Certificates,
or to obtain or seek to obtain priority over or preference to any other such Certificateholder, or to enforce any right under this
Agreement or the Certificates, except in the manner herein or therein provided and for the equal, ratable and common benefit of
all Holders of Certificates of such Class, as applicable. For the protection and enforcement of the provisions of this Section,
each and every Certificateholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.

 

Section
10.03 Governing Law. 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. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL
APPLY TO THIS AGREEMENT.

 

Section
10.04 Waiver of Jury Trial; Consent to Jurisdiction. TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE LAW,
EACH PARTY HERETO WAIVES ITS RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT
OF OR RELATED TO THIS AGREEMENT, ANY ASSIGNMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, IN ANY ACTION, PROCEEDING OR OTHER
LITIGATION OF ANY TYPE BROUGHT BY ANY PARTY AGAINST THE OTHER PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS,
OR OTHERWISE. EACH PARTY HERETO AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY.
WITHOUT LIMITING

 

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THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS
SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY
OF THIS AGREEMENT, ANY ASSIGNMENT OR ANY PROVISION HEREOF OR THEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS,
SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR ANY ASSIGNMENT.

 

TO THE FULLEST EXTENT PERMITTED
UNDER APPLICABLE LAW, EACH PARTY HERETO HEREBY IRREVOCABLY (I) SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE AND FEDERAL COURTS
SITTING IN NEW YORK CITY WITH RESPECT TO MATTERS ARISING OUT OF OR RELATING TO THIS AGREEMENT; (II) AGREES THAT ALL CLAIMS WITH
RESPECT TO SUCH MATTERS MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR FEDERAL COURTS; (III) WAIVES THE DEFENSE OF AN INCONVENIENT
FORUM IN ANY ACTION OR PROCEEDING INVOLVING SUCH CLAIMS IN ANY SUCH COURT; AND (IV) AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION
OR PROCEEDING IN ANY SUCH COURT SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY
OTHER MANNER PROVIDED BY LAW.

 

Section
10.05 Notices. Unless otherwise specified in this
Agreement, all demands, notices and communications hereunder shall be in writing, shall be deemed to have been given upon
receipt (except that notices to Holders of Class R and Class LR Certificates or Holders of any Class of Certificates no
longer held through a Depository and instead held in registered, definitive form shall be deemed to have been given upon
being sent by first-class mail, postage prepaid or by overnight courier) as follows:

 

If to the Certificate Administrator
and the Custodian, to:

 

Deutsche Bank Trust Company Americas

1761 East St. Andrew Place

Santa Ana, CA 92705

Attention: Trust Administration –
DB16SF

Facsimile number: (714) 247-6009

 

If to the Depositor, to:

Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

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With a copy to:

Cadwalader, Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Anna H. Glick

 

If to the Trustee, to:

 

Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee

Fax Number: (302) 630-4140

Email: CMBSTrustee@wilmingtontrust.com

 

If to the Master Servicer, to:

Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: DBJPM 2016-SFC Asset Manager

Fax Number: (704) 715-0036

 

with a copy to:

 

Wells Fargo Bank, National Association

Legal Department

301 South College Street

D1053 300

Charlotte, North Carolina 28202

Attention: Commercial Mortgage Servicing Legal Support

Fax Number: (704) 383-0353

With a copy to:

K&L Gates LLP

Hearst Tower

214 North Tryon Street

Charlotte, North Carolina 28202

Attention: Stacy G. Ackermann

Fax Number: (704) 353-3190

 

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With respect to any notice relating to the
Rating Agency Q&A Forum and Document Request Tool:

RAInvRequests@wellsfargo.com

With respect to any notice relating to the Investor Q&A Forum:

REAM_InvestorRelations@wellsfargo.com

 

If to the Special Servicer, to:

 

Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, California 92660-6397

Attention: Chris Dallas, Vice President – Investment Counsel

Email: chris.dallas@pacificlife.com

 

with a copy by email to:

 

REDocumentmanagement@pacificlife.com

 

With a copy to:

Kelley Drye & Warren LLP

One Jefferson Road

Parsippany, New Jersey 07054-2173

Attention: Deron L. Green

Fax Number: (973) 503-5950

 

If to German American Capital Corporation,
as a Trust Loan Seller, to:

German American Capital Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

If to JPMorgan Chase Bank, National Association,
as a Trust Loan Seller, to:

JPMorgan Chase Bank, National Association

383 Madison Avenue

New York, New York 10179

Attention: Kunal K. Singh

E-mail: kunal.k.singh@jpmorgan.com

 

If to Deutsche Bank
Securities Inc., as an Initial Purchaser, to:

Deutsche Bank Securities Inc.

Commercial Mortgage-Backed Securities

60 Wall Street

 

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New York, New York 10005

Attention: Lainie Kaye

 

If to J.P. Morgan Securities LLC, as
an Initial Purchaser, to:

J.P. Morgan Securities LLC

383 Madison Avenue, 8th Floor

New York, New York 10179

Attention: SPG Syndicate

Facsimile: 212-834-6754

Email: kunal.k.singh@jpmorgan.com

 

If to any Certificateholder, to:

the address set forth in the Certificate Register

 

If to the initial Directing Holder,
to:

Prima Capital Advisors LLC

 

2 Overhill Road, Suite 215

Scarsdale, New York 10583

Attention: Nilesh Patel

Facsimile: (914) 725-9385

Email: npatel@primaadvisors.com

 

If to the 17g-5 Information Provider,
electronically to:

17g5information.provider@db.com

(in an electronic format readable and uploadable (that is not locked or corrupted) on the 17g-5 Information Provider’s system,
specifically with a subject reference of “DBJPM 2016-SFC” and an identification of the type of information being provided
in the body of such electronic mail)

 

or, in the case of the parties to this Agreement,
to such other address as such party shall specify by written notice to the other parties hereto.

 

Section
10.06 Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of this
Agreement shall be for any reason whatsoever held invalid, then, to the extent permitted by applicable law, such covenants,
agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of
this Agreement and shall in no way affect the validity or enforceability of the other provisions of this Agreement or of the
Certificates or the rights of the Holders thereof.

 

Section
10.07 Notice to the Depositor and Each Rating Agency. (a) The Certificate Administrator shall use its best
efforts to promptly provide notice, promptly furnish or make available) to the Depositor, the Initial Purchasers, the
Trustee, and the 17g-5 Information Provider (which shall promptly post such notice to the 17g-5 Information Provider’s
Website) with respect to each of the following of which a Responsible Officer of the Certificate

 

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Administrator has actual
knowledge and to the extent the below information has not already been provided to the Depositor, the Initial Purchasers, the
Trustee, and the 17g-5 Information provider pursuant to the terms of this Agreement:

 

(i)            any material
change or amendment to this Agreement;

 

(ii)           the occurrence
of any Servicer Termination Event that has not been cured;

 

(iii)          the
merger, consolidation, resignation or termination of the Certificate Administrator, the Master Servicer, the Special Servicer or
the Trustee; and

 

(iv)          the repurchase
of Trust Loan pursuant to Section 2.03(e) of this Agreement.

 

(b)          The Certificate Administrator
shall promptly furnish to the Depositor, the Initial Purchasers, and the 17g-5 Information Provider (which shall promptly post
such materials to the 17g-5 Information Provider’s Website):

 

(i)            notice
of the final payment to any Class of Certificateholders;

 

(ii)           notice
of any change in the location of the Distribution Accounts; and

 

(iii)          each
report to Certificateholders described in Section 4.02 and Section 3.13 of this Agreement.

 

(c)          The Master Servicer shall
promptly furnish to the 17g-5 Information Provider (which shall promptly post such materials to the 17g-5 Information Provider’s
Website):

 

(i)            a copy
of each rent roll and each operating and other financial statement and occupancy reports, to the extent such information is required
to be delivered under the Trust Loan, in each case to the extent collected pursuant to Section 3.03 of this Agreement;

 

(ii)           notice
of any change in the location of the Collection Account,

 

(iii)          a copy
of any notice with respect to a breach of a representation or warranty with respect to the Trust Loan;

 

(iv)          any event
that would result in the voluntary or involuntary termination of any insurance of the accounts of the Master Servicer;

 

(v)          any change
in the lien priority of the Trust Loan;

 

(vi)          any material
damage to the Mortgaged Property; and

 

(vii)         any
amendment, modification, consent or waiver to or of any provision of the Trust Loan (including any modification to the related
Loan Documents that remove a requirement for a No Downgrade Confirmation).

 

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(d)          Any party required to
deliver any notice or information pursuant to the terms of this Agreement to the Rating Agencies shall deliver such written notice
of the events or information specified in Section 3.14(d) to the Rating Agencies at the address listed below, promptly following
the occurrence thereof. The Master Servicer or Special Servicer, as applicable, and the Certificate Administrator and Trustee also
shall furnish such other information regarding the Trust Fund as may be reasonably requested by the Rating Agencies to the extent
such party has or can obtain such information without unreasonable effort or expense; provided, however, that such
other information is first provided to the 17g-5 Information Provider in accordance with the procedures set forth in Section
3.14(d). Notwithstanding the foregoing, the failure to deliver such notices or copies shall not constitute a Servicer Termination
Event, as the case may be, under this Agreement. Any confirmation of the rating by the Rating Agencies required hereunder shall
be in writing.

 

Notices to each Rating Agency shall be
addressed as follows:

 

Kroll Bond Rating Agency, Inc.

845 Third Avenue, 4th Floor

New York, New York 10022

Attention: CMBS Surveillance

Facsimile number: (646) 731-2395

 

S&P Global Ratings

55 Water Street, 41st Floor

New York, New York 10041

Attention: Commercial Mortgage Surveillance Manager

Email: cmbs_info_17g5@standardandpoors.com

 

or in each case to such other address as
a Rating Agency shall specify by written notice to the parties hereto.

 

(e)          In connection with the
delivery by the Master Servicer or the Special Servicer to the Rule 17g-5 Information Provider of any information, report, notice
or document for posting to the Rule 17g-5 Information Provider’s Website, the 17g-5 Information Provider shall notify the
Master Servicer or Special Servicer, as applicable, of when such information, report, notice or document has been posted to the
17g-5 Information Provider’s Website. The Master Servicer or Special Servicer, as applicable, may, but is not obligated to,
send such information, report, notice or other document to the applicable Rating Agency so long as such information, report, notice
or document was (i) previously provided to the 17g-5 Information Provider or (ii) is simultaneously provided to the 17g-5 Information
Provider.

 

Section
10.08 Amendment. This Agreement or any Custodial Agreement
may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator and the
Trustee without the consent of any of the Certificateholders or the Companion Loan Holders, (i) to cure any ambiguity or to
correct any error; (ii) to cause the provisions herein to conform or be consistent with or in furtherance of the statements
made in the Offering Circular with respect to the Certificates, the Trust or this Agreement or to correct or supplement any
provisions herein or therein which may be defective or inconsistent with any

 

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other provisions herein or therein; (iii) to
amend any provision hereof to the extent necessary or desirable to maintain the rating or ratings assigned to each of the
Classes of Certificates or Companion Loan Securities by each Rating Agency (provided that such amendment does not
adversely affect in any material respect (x) the rights or interests of any Certificateholder or Companion Loan Holder not
consenting thereto or (y) the rights or interests of the Directing Holder without the consent of the Holders of
Certificates representing all of the Percentage Interests of the Controlling Class); (iv) to amend or supplement a provision,
or to supplement any other provisions to the extent not inconsistent with the provisions of this Agreement, or any other
change that will not adversely affect in any material respect the interests of any Certificateholder or Companion Loan Holder
not consenting thereto (as evidenced in writing by an Opinion of Counsel or, if solely affecting any Certificateholder of a
rated Class or a Companion Loan Holder, in respect of which a No Downgrade Confirmation has been obtained relating to the
Certificates or the Companion Loan Securities, if applicable); and (v) to modify the procedures herein relating to compliance
with Rule 17g-5 of the Exchange Act; provided that such modification would not materially increase the obligations of
the Depositor, the Trustee, the Paying Agent, the Certificate Administrator, the 17g-5 Information Provider, the Master
Servicer or the Special Servicer without such parties’ consent; and provided, further, that such
amendment shall not adversely affect in any material respects the interests of any Certificateholders or Companion Loan
Holders not consenting thereto, as evidenced by in the case of clauses (iii) through (v) above by (x) an
Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation
from each Rating Agency and a No Downgrade Confirmation with respect to any Companion Loan Securities; and provided, further,
that the Certificate Administrator shall give notice of any such amendment to the 17g-5 Information Provider (which shall
promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(c) of this
Agreement). In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a
REMIC or subject either REMIC to tax.

 

This Agreement or any Custodial
Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator
and the Trustee with the prior written consent of the Holders of Certificates representing not less than 66-2⁄3% of the Percentage
Interests of each Class of Certificates affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s
Affiliates and/or agents or the Trust Loan Sellers) and the Companion Loan Holders affected thereby for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Agreement or modifying in any manner the rights
of the Certificateholders; provided, however, that no such amendment may:

 

(i)            reduce
in any manner the amount of, or delay the timing of, payments received on the Whole Loan which is required to be distributed on
any Certificate, without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or
Classes affected thereby or which are required to be distributed to any Companion Loan Holders without the consent of such Companion
Loan Holder;

 

(ii)           change
the percentages of Voting Rights or Percentage Interests of Holders of Certificates which are required to consent to any action
or inaction under this Agreement without the consent of the Holders of Certificates representing all of the

 

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Percentage Interests
of the Class or Classes affected thereby and the consent of any affected Companion Loan Holder;

 

(iii)          alter
the Servicing Standard or obligations of the Master Servicer or the Trustee to make a P&I Advance, Administrative Advance or
a Property Advance, without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class
or Classes affected thereby and the consent of any affected Companion Loan Holder; or

 

(iv)          amend
any section hereof which relates to the amendment of this Agreement without the consent of the Holders of all Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Companion Loan Holder.

 

Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator and the Trustee, at any time and from time to time, without the consent
of the Certificateholders or the Companion Loan Holders, may amend this Agreement to modify, eliminate or add to any of its provisions
to such extent as shall be necessary: (i) to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary
or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any
material respect the interest of any Certificateholder or Companion Loan Holders or (ii) to comply with the Investment Company
Act of 1940, as amended, and/or any related regulatory actions and/or interpretations.

 

In the event that neither the
Depositor nor any successor thereto, if any, is in existence, any amendment under this Section 10.08 shall be effective
with the consent of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer, in writing, and to
the extent required by this Section 10.08, the Certificateholders and the Companion Loan Holders. Promptly after the execution
of any amendment, the requesting party shall forward to the Trustee, the Certificate Administrator, the Master Servicer and the
Special Servicer, and the Certificate Administrator shall furnish a copy of such amendment to each Certificateholder, the 17g-5
Information Provider (which shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section
3.14(d) of this Agreement).

 

It shall not be necessary for
the consent of Certificateholders under this Section 10.08 to approve the particular form of any proposed amendment, but
it shall be sufficient if such consent shall approve the substance thereof. The method of obtaining such consents and of evidencing
the authorization of the execution thereof by Certificateholders and Companion Loan Holders shall be subject to such reasonable
regulations as the Trustee may prescribe; provided, however, that such method shall always be by affirmation and
in writing.

 

Notwithstanding any contrary
provision of this Agreement, no amendment shall be made to this Agreement or any Custodial Agreement unless the Trustee and the
Certificate Administrator have received an Opinion of Counsel, at the expense of the party requesting such amendment (or, if such
amendment is required by any Rating Agency to maintain the rating

 

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issued by it or requested by the Trustee for any purpose described
in clause (i), (ii) or (iii) of first sentence of this Section, then at the expense of the Trust Fund) confirming
that such amendment is authorized or permitted by this Agreement and that all conditions precedent with respect thereto have been
satisfied, respectively, hereunder and such amendment will not cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC at any time that any Certificates are outstanding, or cause a tax to be imposed on the Trust Fund or either Trust REMIC.

 

Prior to the execution of any
amendment to this Agreement or any Custodial Agreement, the Trustee, the Certificate Administrator, the Special Servicer and the
Master Servicer may request and shall be entitled to rely conclusively upon an Opinion of Counsel and an Officer’s Certificate,
at the expense of the party requesting such amendment (or, if such amendment is required by any Rating Agency to maintain the rating
issued by it or requested by the Trustee for any purpose described in clause (i), (ii) or (iii) of the first
sentence of this Section 10.08 (which do not modify or otherwise relate solely to the obligations, duties or rights of the
Trustee or the Certificate Administrator), then at the expense of the Trust Fund) stating that the execution of such amendment
is authorized or permitted by this Agreement and that all conditions precedent with respect thereto have been satisfied. The Trustee
or the Certificate Administrator may, but shall not be obligated to, enter into any such amendment which affects the Trustee’s
or the Certificate Administrator’s own rights, duties or immunities under this Agreement.

 

Notwithstanding any contrary
provision contained in this Agreement, no amendment shall be made to this Agreement which adversely affects the rights, including
(without limitation) as a third-party beneficiary hereunder, and/or obligations of the Trust Loan Sellers or the Initial Purchasers
without the consent of the Trust Loan Sellers or the Initial Purchasers, as applicable, or which adversely affects the rights,
including (without limitation) as a third-party beneficiary hereunder, and/or obligations of any Companion Loan Holder without
the consent of such Companion Loan Holder.

 

Promptly after the execution
of any amendment to this Agreement, the Certificate Administrator shall post a copy of the same to the Certificate Administrator’s
Website, deliver a copy of the same to the 17g-5 Information Provider which shall post a copy of the same on the 17g-5 Information
Provider’s Website pursuant to Section 3.14(d) of this Agreement, and thereafter, the Certificate Administrator shall
furnish a copy of such amendment to each Certificateholder, each Companion Loan Holder, the Depositor, the Master Servicer, the
Special Servicer, and the Initial Purchasers.

 

Section 10.09 Confirmation
of Intent. It is the express intent of the parties hereto that the conveyance of the Trust Fund (including the Trust Loan)
by the Depositor to the Trustee on behalf of Certificateholders as contemplated by this Agreement and the sale by the Depositor
of the Certificates be, and be treated for all purposes as, a sale by the Depositor of the undivided portion of the beneficial
interest in the Trust Fund represented by the Certificates. It is, further, not the intention of the parties that such conveyance
be deemed a pledge of the Trust Fund by the Depositor to the Trustee to secure a debt or other obligation of the Depositor. However,
in the event that, notwithstanding the intent of the parties, the Trust Fund is held to continue to be property of the Depositor
then (a) this Agreement shall also be deemed to be a security agreement under applicable law; (b) the transfer of the Trust Fund
provided for herein shall be

 

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deemed to be a grant by the Depositor to
the Trustee on behalf of Certificateholders of a first priority security interest in all of the Depositor’s right, title
and interest in and to the Trust Fund and all amounts payable to the holders of the Trust Loan in accordance with the terms thereof
and all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, instruments, securities or other property,
including, without limitation, all amounts from time to time held or invested in the Collection Account, the Distribution Accounts,
the Interest Reserve Account and any REO Account whether in the form of cash, instruments, securities or other property; (c) the
possession by the Trustee (or the Custodian on its behalf) of Note and such other items of property as constitute instruments,
money, negotiable documents or chattel paper shall be deemed to be “possession by the secured party” for purposes of
perfecting the security interest pursuant to Section 9-313 of the New York Uniform Commercial Code; and (d) notifications to Persons
holding such property, and acknowledgments, receipts or confirmations from Persons holding such property, shall be deemed notifications
to, or acknowledgments, receipts or confirmations from, financial intermediaries, bailees or agents (as applicable) of the Trustee
for the purpose of perfecting such security interest under applicable law. Any assignment of the interest of the Trustee pursuant
to any provision hereof shall also be deemed to be an assignment of any security interest created hereby. The Depositor shall,
and upon the request and direction of the Master Servicer, the Trustee shall, to the extent consistent with this Agreement (and
at the expense of the Trust Fund), take such actions as may be necessary to ensure that, if this Agreement were deemed to create
a security interest in the Trust Loan, such security interest would be deemed to be a perfected security interest of first priority
under applicable law and will be maintained as such throughout the term of this Agreement. It is the intent of the parties that
such a security interest would be effective whether any of the Certificates are sold, pledged or assigned.

 

Section
10.10 No Intended Third-Party Beneficiaries. Except as
specified in Section 10.12 of this Agreement, no Person other than a party to this Agreement, the Trust Loan Sellers,
the Initial Purchasers or any Certificateholder shall have any rights with respect to the enforcement of any of the rights or
obligations hereunder. Without limiting the foregoing, the parties to this Agreement specifically state that no Borrower,
Manager or other party to the Trust Loan is an intended third-party beneficiary of this Agreement.

 

Section
10.11 Entire Agreement. This Agreement, together with the
Co-Lender Agreement, contains the entire agreement and understanding between the parties hereto with respect to the subject
matter hereof, and supersedes all prior and contemporaneous agreements, understanding, inducements and conditions, express or
implied, oral or written, of any nature whatsoever with respect to the subject matter hereof. The express terms hereof
control and supersedes any course of performance or usage of the trade inconsistent with any of the terms hereof.

 

Section
10.12 Third Party Beneficiaries. Each of the Trustee, the Certificate Administrator, the Master Servicer and the
Special Servicer acknowledge that (i) each Trust Loan Seller and each Initial Purchaser is a third party beneficiary with
respect to Section 8.05(h) of this Agreement, the obligations of any such party to deliver information to the 17g-5
Information Provider hereunder and the obligations of the 17g-5 Information Provider to post information to the 17g-5
Information Provider’s Website and the express obligations of any party hereto to deliver documents, notices,
information or funds to the Trust Loan Sellers, (ii) each

 

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Trust Loan Seller is a third party beneficiary with respect to Section
2.03(d), Section 2.03(e), Section 2.03(g) and Section 10.08 of this Agreement, (iii) each Initial
Purchaser is a third party beneficiary with respect to its rights to receive any notices, documents, certifications and/or
information hereunder and its rights under Section 10.08 of this Agreement, (iv) each holder of a Companion Loan and
any related Other Depositor is an intended third party beneficiary in respect of the rights afforded it under this Agreement
and may directly (or, in the case of the holder of a Companion Loan, the related Other Servicer may) enforce such rights, and
(v) each of the Companion Loan Service Providers under an applicable Other Pooling and Servicing Agreement is an intended
third party beneficiary under this Agreement with respect to any provision herein expressly relating to compensation,
reimbursement or indemnification of such Companion Loan Service Provider and the provisions regarding the coordination of
Advances.

 

ARTICLE
XI

EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE

 

Section
11.01 Intent of the Parties; Reasonableness. The parties
hereto acknowledge and agree that the purpose of Article XI of this Agreement is, among other things, to facilitate
compliance by any Other Depositor with the provisions of Regulation AB and the related rules and regulations of the
Commission. Except as expressly required by Sections 11.07, 11.08 and 11.09, the Depositor shall not,
and no Other Depositor may, exercise its rights to request delivery of information or other performance under
these provisions other than in good faith, or for purposes other than compliance with the Act, the Exchange Act and the
Sarbanes-Oxley Act. The parties hereto acknowledge that interpretations of the requirements of Regulation AB may change over
time due to interpretive guidance provided by the Commission or its staff, and agree to comply with reasonable requests made
by the Depositor, or any Other Depositor, in good faith for delivery of information under these provisions on the basis of
such evolving interpretations of Regulation AB. In connection with the DBJPM 2016-SFC Mortgage Trust Commercial Mortgage
Pass-Through Certificates, and any Companion Loan Securities, each of the parties to this Agreement shall cooperate fully
with the Depositor, the Certificate Administrator, any Other Depositor and any Other Exchange Act Reporting Party, as
applicable, to deliver to the Depositor or Other Depositor, as applicable (including any of its assignees or designees), any
and all statements, reports, certifications, records and any other information in its possession or reasonably available to
it and necessary in the reasonable good faith determination of the Depositor, the Certificate Administrator, any Other
Depositor or any Other Exchange Act Reporting Party, as applicable, to permit any Other Depositor to comply with the
provisions of Regulation AB, together with such disclosures relating to the Master Servicer, the Special Servicer, the
Certificate Administrator, the Trustee and the Custodian, as applicable, and any Sub-Servicer, or the servicing of the Whole
Loan, reasonably believed by the Depositor or any Other Depositor, as applicable, in good faith to be necessary in order to
effect such compliance. Each party to this Agreement shall have a reasonable period of time to comply with any
written request made under this Section 11.01, but in any event shall, upon reasonable advance written request, provide
information in sufficient time to allow the Depositor or any Other Depositor, as applicable, to satisfy any related filing
requirements. For purposes of this Article XI, to the extent any party has an obligation to exercise commercially reasonable
efforts to cause a third party to perform, such party hereunder shall not be required to bring any legal action against such
third party in connection with such obligation.

 

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Section
11.02 Succession; Sub-Servicers; Subcontractors. (a) For so
long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act (in addition to any
requirements contained in Section 11.07 of this Agreement), in connection with the succession to the Master Servicer
and Special Servicer or any Sub-Servicer as servicer or sub-servicer (to the extent such Sub-Servicer is a
“servicer” meeting the criteria contemplated by Item 1108(a)(2) of Regulation AB) under this Agreement by
any Person (i) into which the Master Servicer and Special Servicer or such Sub-Servicer may be merged or consolidated, or
(ii) which may be appointed as a successor to the Master Servicer and Special Servicer or any such Sub-Servicer, the Master
Servicer or Special Servicer, as applicable (depending on whether such succession involves it or one of its Sub-Servicers),
shall provide to any Other Depositor as to which the applicable Companion Loan is affected, at least five (5) Business Days
prior to the effective date of such succession or appointment as long as such disclosure prior to such effective date would
not be violative of any applicable law or confidentiality agreement, and otherwise no later than one (1) Business Day after
such effective date of succession, (x) written notice to the Depositor and each such Other Depositor of such succession or
appointment and (y) in writing and in form and substance reasonably satisfactory to each such Other Depositor, all
information relating to such successor servicer reasonably requested by any such Other Depositor in order to comply with its
reporting obligation under Item 6.02 of Form 8-K pursuant to the Exchange Act (if such reports under the Exchange Act are
required to be filed under the Exchange Act).

 

(b)          For so long as any Other
Securitization Trust is subject to the reporting requirements of the Exchange Act, each of the Master Servicer, the Special Servicer,
any Sub-Servicer, the Certificate Administrator, the Trustee and the Custodian (each of the Master Servicer, the Special Servicer,
the Certificate Administrator, the Trustee and the Custodian and each Sub-Servicer, for purposes of this Section 11.02(b)
and Section 11.02(c), a “Servicing Party”) is permitted to utilize one or more Subcontractors to perform
certain of its obligations hereunder. Such Servicing Party shall promptly upon request provide to any Other Depositor as to which
the applicable Companion Loan is affected, a written description (in form and substance satisfactory to each such Other Depositor)
of the role and function of each Subcontractor that is a Servicing Function Participant utilized by such Servicing Party during
the preceding calendar year, specifying (i) the identity of such Subcontractor, and (ii) which elements of the Servicing Criteria
will be addressed in assessments of compliance provided by each such Subcontractor. Each Servicing Party shall cause any Subcontractor
utilized by such Servicing Party that is determined to be a Servicing Function Participant to comply with the provisions of Section
11.08 and Section 11.09 of this Agreement to the same extent as if such Subcontractor were such Servicing Party. Such
Servicing Party shall obtain from each such Subcontractor (or, in the case of each Sub-Servicer set forth on Exhibit W,
shall use commercially reasonable efforts to obtain from such Sub-Servicer) and deliver to the applicable Persons any assessment
of compliance report and related accountant’s attestation required to be delivered by such Subcontractor under Section
11.08 and Section 11.09 of this Agreement, in each case, as and when required to be delivered.

 

(c)          For so long as any Other
Securitization Trust is subject to the reporting requirements of the Exchange Act, notwithstanding the foregoing, if a Servicing
Party engages a Subcontractor in connection with the performance of any of its duties under this Agreement, such Servicing Party
shall be responsible for determining whether such Subcontractor is a

 

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“servicer” within the meaning of Item 1101 of
Regulation AB and whether such Subcontractor meets the criteria in Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB. If a Servicing
Party determines, pursuant to the preceding sentence, that such Subcontractor is a “servicer” within the meaning of
Item 1101 of Regulation AB and meets the criteria in Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB, then such Subcontractor
shall be deemed to be a Sub-Servicer for purposes of this Agreement, and the engagement of such Sub-Servicer shall not be effective
unless and until notice is given to the Depositor and the Certificate Administrator, as well as any Other Depositor as to which
the applicable Companion Loan is affected, of any such Sub-Servicer and Subservicing Agreement. No Subservicing Agreement (other
than such agreements relating to a Sub-Servicer set forth in Exhibit W) shall be effective until five (5) Business Days
after such written notice is received by the Depositor, the Certificate Administrator and each such Other Depositor. Such notice
shall contain all information reasonably necessary, and in such form as may be necessary, to enable each Other Exchange Act Reporting
Party as to which the applicable Companion Loan is affected, to accurately and timely report the event under Item 6.02 of Form
8-K pursuant to the related Other Pooling and Servicing Agreement or otherwise (if such reports under the Exchange Act are required
to be filed under the Exchange Act).

 

(d)          For so long as any Other
Securitization Trust is subject to the reporting requirements of the Exchange Act, in connection with the succession to the Trustee
or Certificate Administrator under this Agreement by any Person (i) into which the Trustee or Certificate Administrator may be
merged or consolidated, or (ii) which may be appointed as a successor to the Trustee or Certificate Administrator, the Trustee
or Certificate Administrator, as applicable, shall notify the Depositor and each Other Depositor, at least ten (10) Business Days
prior to the effective date of such succession or appointment (or if such prior notice would be violative of applicable law or
any applicable confidentiality agreement, no later than the time required under Section 11.06 of this Agreement) and shall
furnish pursuant to Section 11.06 of this Agreement to each Other Depositor in writing and in form and substance reasonably
satisfactory to the Depositor and each Other Depositor, all information reasonably necessary for each Other Exchange Act Reporting
Party to accurately and timely report the event under Item 6.02 of Form 8-K pursuant to the related Other Pooling and Servicing
Agreement or otherwise (if such reports under the Exchange Act are required to be filed under the Exchange Act).

 

Section
11.03 Other Securitization Trust’s Filing
Obligations. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee and the Custodian shall (and shall
cause (or, in the case of each Sub-Servicer set forth on Exhibit W, shall use commercially reasonable efforts to
cause) each Additional Servicer and Servicing Function Participant utilized thereby to) reasonably cooperate with each Other
Depositor in connection with the satisfaction of each Other Securitization Trust’s reporting requirements under
the Exchange Act.

 

Section
11.04 Form 10-D Disclosure. For so long as any Other
Securitization Trust is subject to the reporting requirements of the Exchange Act, within five (5) calendar days after the
related Distribution Date (using commercially reasonable efforts), (i) the parties as set forth on Exhibit S to this
Agreement, shall be required to provide to each Other Exchange Act Reporting Party and each Other Depositor to which the
particular Additional Form 10-D Disclosure is relevant for Exchange Act reporting purposes, to the extent a Servicing Officer
or

 

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Responsible Officer thereof has knowledge thereof (other than information required by Item 1117 of Regulation AB as to
such party which shall be reported if actually known by any Servicing Officer or Responsible Officer, as the case may be, or
any lawyer in the in-house legal department of such party), in EDGAR-compatible format (to the extent available to such party
in such format), or in such other format as otherwise agreed upon by each such Other Exchange Act Reporting Party, each such
Other Depositor and such parties, the form and substance of the Additional Form 10-D Disclosure, if applicable, and (ii) the
parties listed on Exhibit S to this Agreement shall include with such Additional Form 10-D Disclosure application to
such party and shall cause each Sub-Servicer (or, in the case of each Sub-Servicer set forth on Exhibit W, shall
use commercially reasonable efforts to cause such Sub-Servicer) and Subcontractor of such party to the extent required under
Regulation AB to provide, and if received, include, an Additional Disclosure Notification in the form attached as Exhibit
V to this Agreement. The Certificate Administrator has no duty under this Agreement to monitor or enforce the performance
by the parties listed on Exhibit S to this Agreement of their duties under this paragraph or proactively solicit or
procure from such parties any Additional Form 10-D Disclosure information.

 

Section
11.05 Form 10-K Disclosure. For so long as any Other Securitization Trust is subject to the reporting
requirements of the Exchange Act, by March 1st, commencing in March 2017, (i) the parties listed on Exhibit T to this
Agreement shall be required to provide (and with respect to any Servicing Function Participant of such party (other than any
party to this Agreement), shall cause such Servicing Function Participant to provide) to each Other Exchange Act Reporting
Party and each Other Depositor to which the particular Additional Form 10-K Disclosure is relevant for Exchange Act Reporting
purposes, to the extent a Servicing Officer or a Responsible Officer, as the case may be, thereof has actual knowledge (other
than information required by Item 1117 of Regulation AB as to such party which shall be reported if actually known by any
Servicing Officer or Responsible Officer, as the case may be, or any lawyer in the in house legal department of such party),
in EDGAR compatible format (to the extent available to such party in such format) or in such other format as otherwise agreed
upon by each such Other Exchange Act Reporting Party, each such Other Depositor and such providing parties, the form and
substance of any Additional Form 10-K Disclosure described on Exhibit T to this Agreement applicable to such party,
and (ii) the parties listed on Exhibit T to this Agreement shall include with such Additional Form 10-K Disclosure
applicable to such party and shall cause each Sub-Servicer (or, in the case of each Sub-Servicer set forth on Exhibit
W, shall use commercially reasonable efforts to cause such Sub-Servicer) and Subcontractor of such party to the extent
required under Regulation AB to provide, and if received, include, an Additional Disclosure Notification in the form attached
as Exhibit V to this Agreement. The Certificate Administrator has no duty under this Agreement to monitor or enforce
the performance by the parties listed on Exhibit T to this Agreement of their duties under this paragraph
or proactively solicit or procure from such parties any Additional Form 10-K Disclosure information.

 

Section
11.06 Form 8-K Disclosure. For so long as any Other Securitization Trust is subject to the reporting requirements
of the Exchange Act, to the extent a Servicing Officer or Responsible Officer thereof has actual knowledge of such event
(other than Item 1117 of Regulation AB as to such party which shall be reported if actually known by any Servicing Officer or
Responsible Officer, as the case may be, or any lawyer in the in-house legal department of such party), within one Business
Day after the occurrence of an event requiring

 

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disclosure on Form 8-K (each such event, a “Reportable
Event”) (using commercially reasonable efforts), but in no event later than the end of business (New York City
time) on the second Business Day after the occurrence of a Reportable Event, (i) the parties set forth on Exhibit U to
this Agreement shall be required to provide (and (i) with respect to any Servicing Function Participant of such party that is
a Sub-Servicer set forth on Exhibit W, shall use commercially reasonable efforts to cause such Servicing Function
Participant to provide, and (ii) with respect to any other Servicing Function Participant of such party (other than any party
to this Agreement), shall cause such Servicing Function Participant to provide) to each Other Depositor and each Other
Exchange Act Reporting Party to which the particular Form 8-K Disclosure Information is relevant for Exchange Act reporting
purposes, in EDGAR-compatible format (to the extent available to such party in such format) or in such other format as
otherwise agreed upon by each such Other Depositor, each such Other Exchange Act Reporting Party and such providing parties,
any Form 8-K Disclosure Information described on Exhibit U to this Agreement as applicable to such party, if
applicable, and (ii) the parties listed on Exhibit U to this Agreement shall include with such Form 8-K Disclosure
Information applicable to such party and shall cause each Sub-Servicer (or, in the case of each Sub-Servicer set forth on Exhibit
W, shall use commercially reasonable efforts to cause such Sub-Servicer) and Subcontractor of such party to the extent
required under Regulation AB to provide, and if received, include, an Additional Disclosure Notification in the form attached
hereto as Exhibit V. The Certificate Administrator has no duty under this Agreement to monitor or enforce the
performance by the parties listed on Exhibit U of their duties under this paragraph or proactively solicit or procure
from such parties any Form 8-K Disclosure Information.

 

Section
11.07 Annual Compliance Statements. On or before March 1 of
each year, commencing in 2017, each of the Master Servicer, the Special Servicer (regardless of whether the Special Servicer
has commenced special servicing of the Whole Loan) and, for so long as any Other Securitization Trust is subject to the
reporting requirements of the Exchange Act, the Certificate Administrator, the Custodian, any Additional Servicer and each
Servicing Function Participant, each at its own expense, shall furnish (and each such party, (i) with respect to each
Servicing Function Participant that is a Sub-Servicer set forth on Exhibit W with which it has entered into a
servicing relationship with respect to the Whole Loan, shall use commercially reasonable efforts to cause such Servicing
Function Participant to furnish, and (ii) with respect to any other Servicing Function Participant of such party (other than
any party to this Agreement), shall cause such Servicing Function Participant to furnish) (each such Servicing Function
Participant and each of the Master Servicer, Special Servicer, the Certificate Administrator, the Trustee and the Custodian,
a “Certifying Servicer”) to the Certificate Administrator and the 17g-5 Information Provider (who shall
post it to the Certificate Administrator’s Website and the 17g-5 Information Provider’s Website, as applicable)),
the Trustee, the Depositor and the Companion Loan Holders (or, in the case of a Companion Loan that is part of an Other
Securitization Trust, the applicable Other Depositor and Other Exchange Act Reporting Party), an Officer’s Certificate
stating, as to the signer thereof, that (A) a review of such Person’s activities during the preceding calendar year or
portion thereof and of such Person’s performance under this Agreement or the applicable sub-servicing agreement, as
applicable, has been made under such officer’s supervision and (B) to the best of such officer’s knowledge, based
on such review, such Person has fulfilled all its obligations under this Agreement or the applicable sub-servicing agreement,
as applicable, in all material respects throughout such year or portion thereof, or, if there has been a failure to fulfill
any such obligation in any material respect, specifying each

 

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such failure known to such officer and the nature and status
thereof. For so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, promptly
after receipt of each such Officer’s Certificate, the Depositor (and, in the case of a Companion Loan that is part of
an Other Securitization Trust, the applicable Other Depositor and Other Exchange Act Reporting Party) may review each such
Officer’s Certificate and, if applicable, consult with the Certifying Servicer, as applicable, as to the nature of any
failures by such Certifying Servicer, respectively, or any related Servicing Function Participant with which the Master
Servicer or the Special Servicer, as applicable, has entered into a servicing relationship with respect to the Trust Loan or
the Companion Loans in the fulfillment of any Certifying Servicer’s obligations hereunder or under the applicable
sub-servicing or primary servicing agreement. The obligations of each Certifying Servicer under this Section apply to each
such Certifying Servicer that serviced the Trust Loan or a Companion Loan during the applicable period, whether or not the
Certifying Servicer is acting in such capacity at the time such Officer’s Certificate is required to be delivered.
Copies of all Officer’s Certificates delivered pursuant to this Section 11.07 shall be made available to any
Privileged Person by the Certificate Administrator by posting such Compliance Report to the Certificate Administrator’s
Website. Notwithstanding the foregoing, the Trustee shall not be required to deliver an annual compliance statement with
respect to any period during which there was no Relevant Servicing Criteria applicable to it.

 

Section
11.08 Annual Reports on Assessment of Compliance with Servicing
Criteria. (a) On or before March 1 of each year, commencing in 2017, the Master Servicer, the Special Servicer
(regardless of whether the Special Servicer has commenced special servicing of the Whole Loan) and, for so long as any Other
Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator, the Trustee
and the Custodian, each at its own expense, shall furnish (and each such party, (i) with respect to each Servicing Function
Participant that is a Sub-Servicer set forth on Exhibit W with which it has entered into a servicing relationship with
respect to the Whole Loan, shall use commercially reasonable efforts to cause such Servicing Function Participant to furnish,
and (ii) with respect to any other Servicing Function Participant of such party (other than any party to this
Agreement), shall cause such Servicing Function Participant to furnish) (each Servicer, the Special Servicer, the Certificate
Administrator, the Trustee, the Custodian and any Servicing Function Participant, as the case may be, a “Reporting
Servicer”) to the Certificate Administrator and the 17g-5 Information Provider (who shall promptly post it to the
Certificate Administrator’s Website and the 17g-5 Information Provider’s Website, as applicable), the Trustee,
the Depositor and the Companion Loan Holders (or, in the case of a Companion Loan that is part of an Other Securitization
Trust, the applicable Other Depositor and Other Exchange Act Reporting Party), a report on an assessment of compliance with
the Applicable Servicing Criteria that contains (A) a statement by such Reporting Servicer of its responsibility for
assessing compliance with the Applicable Servicing Criteria, (B) a statement that, to the best of such Reporting
Servicer’s knowledge, such Reporting Servicer used the Servicing Criteria to assess compliance with the Applicable
Servicing Criteria, (C) such Reporting Servicer’s assessment of compliance with the Applicable Servicing Criteria as of
the end of and for the preceding calendar year, including, if there has been any material instance of noncompliance with the
Applicable Servicing Criteria, a discussion of each such failure and the nature and status thereof and (D) a statement that a
registered public accounting firm that is a member of the American Institute of Certified Public Accountants has issued an
attestation report on such Reporting Servicer’s assessment of compliance with the Applicable Servicing Criteria as of
and for such period. Copies of all

 

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compliance reports delivered pursuant to this Section 11.08 shall be provided to
any Certificateholder, upon the written request therefor, by the Certificate Administrator. Notwithstanding the
foregoing, the Trustee shall not be required to deliver an assessment of compliance with respect to any period during which
there was no Relevant Servicing Criteria applicable to it.

 

Each such report shall be addressed
to the Depositor and each Other Depositor (if addressed) and signed by an authorized officer of the applicable company, and shall
address each of the Applicable Servicing Criteria. For so long as any Other Securitization Trust is subject to the reporting requirements
of the Exchange Act, promptly after receipt of each such report, the Depositor and each Other Depositor may review each such report
and, if applicable, consult with the each Reporting Servicer as to the nature of any material instance of noncompliance with the
Relevant Servicing Criteria.

 

(b)          On the Closing Date, the
Master Servicer, the Special Servicer, the Certificate Administrator, the Custodian and the Trustee each acknowledge and agree
that Schedule I to this Agreement sets forth the Relevant Servicing Criteria for such party.

 

(c)          No later than 30 days
after the end of each fiscal year for the Trust, the Master Servicer, the Special Servicer and, for so long as any Other Securitization
Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator, the Trustee and the Custodian
shall notify the Certificate Administrator, the Depositor, each Other Exchange Act Reporting Party and each Other Depositor as
to the name of each Servicing Function Participant utilized by it, in each case, and each such notice will specify what specific
Servicing Criteria will be addressed in the report on assessment of compliance prepared by such Servicing Function Participant.
When the Master Servicer, the Special Servicer and, for so long as any Other Securitization Trust is subject to the reporting requirements
of the Exchange Act, the Certificate Administrator, the Trustee and the Custodian submit their assessments pursuant to Section
11.08(a) of this Agreement, such parties, as applicable, will also at such time include the assessment (and related attestation
pursuant to Section 11.09) of each Servicing Function Participant engaged by it. The fiscal year for the Trust shall be
January 1 through and including December 31 of each calendar year.

 

(d)          In the event the Master
Servicer, the Special Servicer or, for so long as any Other Securitization Trust is subject to the reporting requirements of the
Exchange Act, the Certificate Administrator, the Trustee or the Custodian is terminated or resigns pursuant to the terms of this
Agreement, such party shall provide, and each such party shall cause (or, if the Servicing Function Participant is a Sub-Servicer
set forth on Exhibit W, shall use commercially reasonable efforts to cause) any Servicing Function Participant engaged by
it to provide (and the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee and the Custodian shall,
with respect to any Servicing Function Participant that resigns or is terminated under any applicable servicing agreement, cause
such Servicing Function Participant to provide) an annual assessment of compliance pursuant to this Section 11.08, coupled
with an attestation as required in Section 11.09 in respect of the period of time that the Master Servicer, the Special
Servicer or, for so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate
Administrator, the Trustee or the Custodian was subject to this Agreement or the period of time that the Servicing Function Participant
was subject to such other servicing agreement.

 

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Section
11.09 Annual Independent Public Accountants’ Servicing
Report. On or before March 1 of each year, commencing in 2017, the Master Servicer, the Special Servicer and, for so long
as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate
Administrator, the Trustee and the Custodian, each at its own expense, shall cause (and each such party, (i) with respect to
each Servicing Function Participant that is a Sub-Servicer set forth on Exhibit W with which it has entered into a
servicing relationship with respect to the Whole Loan, shall use commercially reasonable efforts to cause such Servicing
Function Participant to cause, and (ii) with respect to any other Servicing Function Participant of such party (other than
any party to this Agreement), shall cause such Servicing Function Participant to cause) a registered public accounting
firm (which may also render other services to the Master Servicer, the Special Servicer, the Certificate Administrator, the
Trustee, the Custodian or the applicable Servicing Function Participant, as the case may be) and that is a member of the
American Institute of Certified Public Accountants to furnish a report to the Certificate Administrator (who shall post it to
the Certificate Administrator’s Website), the Depositor, the Companion Loan Holders (or, in the case of a Companion
Loan that is part of an Other Securitization Trust, the applicable Other Depositor and Other Exchange Act Reporting Party)
and the 17g-5 Information Provider (who shall post it to the 17g-5 Information Provider’s Website), to the effect that
(i) it has obtained a representation regarding certain matters from the management of such Reporting Servicer, which includes
an assessment from such Reporting Servicer of its compliance with the Applicable Servicing Criteria and (ii) on the basis of
an examination conducted by such firm in accordance with standards for attestation engagements issued or adopted by the
Public Company Accounting Oversight Board, it is expressing an opinion as to whether such Reporting Servicer’s
assessment of compliance with the Servicing Criteria was fairly stated in all material respects, or it cannot express an
overall opinion regarding such party’s assessment of compliance with the Applicable Servicing Criteria. In the event
that an overall opinion cannot be expressed, such registered public accounting firm shall state in such report why it was
unable to express such an opinion. Each accountant’s attestation report required hereunder shall be made in accordance
with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Act and the Exchange Act. Such report must be available for
general use and not contain restricted use language. Copies of all statements delivered pursuant to this Section
11.09 shall be made available to any Privileged Person by the Certificate Administrator posting such statement on the
Certificate Administrator’s Website pursuant to Section 8.14(b). Notwithstanding the foregoing, the Trustee
shall not be required to deliver an annual independent public accountants’ servicing report with respect to any period
during which there was no Relevant Servicing Criteria applicable to it.

 

For so long as any Other Securitization
Trust is subject to the reporting requirements of the Exchange Act, promptly after receipt of such report from the Master Servicer,
the Special Servicer, the Certificate Administrator, the Trustee, the Custodian or any Servicing Function Participant, the Depositor
and each Other Depositor may review the report and, if applicable, consult with the Master Servicer, the Special Servicer or, for
so long as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator
as to the nature of any defaults by the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the
Custodian or any Servicing Function Participant with which it has entered into a servicing relationship with respect to the Trust
Loan or any Companion Loan, as the case may be, in the fulfillment of any of the Master Servicer’s, the Special Servicer’s,
the Certificate Administrator’s, the Trustee’s, the Custodian’s or the

 

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applicable Servicing Function Participants’
obligations hereunder or under the applicable sub-servicing agreement.

 

Section 11.10 Significant
Obligor. With respect to a Companion Loan that an applicable Other Depositor has notified the Master Servicer in writing that
the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) with respect to an Other
Securitization Trust that includes such Companion Loan and of the distribution date in such Other Pooling and Servicing Agreement,
the Master Servicer shall, solely to the extent the Master Servicer is in receipt of the updated financial statements of such
“significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year) (beginning
with the first calendar quarter following receipt of such notice from the Other Depositor) or the updated financial statements
of such “significant obligor” for any calendar year (beginning with the first calendar year following receipt of such
notice from the Other Depositor), as applicable, from the Borrower or the Special Servicer, as applicable, deliver to the Other
Certificate Administrator on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI
Quarterly Filing Deadline or seven (7) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable,
(A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI
Quarterly Filing Deadline or seventeen (17) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline,
as applicable, such financial statements of such “significant obligor”, together with the net operating income of
such significant obligor for the applicable period as calculated by the Master Servicer in accordance with the CREFC®
guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant
Obligor NOI Quarterly Filing Deadline or less than seventeen (17) Business Days prior to the related Significant Obligor NOI Yearly
Filing Deadline, as applicable, such financial statements of such “significant obligor”, together with the net operating
income for the applicable period as reported by the Borrower in such financial statements.

 

If the Master Servicer does not
receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may
be, of such “significant obligor” within ten (10) Business Days after the date such financial information is required
to be delivered under the Loan Documents, the Master Servicer shall notify the Other Depositor with respect to such Other Securitization
Trust that includes such related Companion Loan (and shall cause each applicable sub-servicing agreement to require any related
Sub-Servicer to notify such Other Depositor) that it has not received them. The Master Servicer shall use efforts consistent with
the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of such Other Depositor under the Exchange
Act) to obtain the periodic financial statements of the Borrower under the Loan Documents.

 

The Master Servicer shall (and
shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to) retain written evidence of each instance
in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information and is unsuccessful
and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed
with respect to the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain
this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust. This
Officer’s Certificate should be addressed to the certificate

 

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administrator at its corporate trust office, as specified in
the related Other Pooling and Servicing Agreement.

 

Section
11.11 Sarbanes-Oxley Backup Certification. For so long as
any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, the Certificate Administrator,
the Trustee, the Custodian, the Master Servicer and the Special Servicer shall provide (and with respect to any other
Servicing Function Participant of such party, shall cause such Servicing Function Participant to provide) to the Person who
signs the Sarbanes-Oxley Certification with respect to such Other Securitization Trust (the
“Certifying Person”) no later than March 15 of the year following the year to which the Form 10-K of such
Other Securitization Trust relates or, if March 15 is not a Business Day, on the immediately following Business Day, a
certification in the form attached to this Agreement as Exhibit X, on which the Certifying Person, the entity for
which the Certifying Person acts as an officer, and such entity’s officers, directors and Affiliates (collectively with
the Certifying Person, “Certification Parties”) can reasonably rely. In the event any Reporting Servicer
is terminated or resigns pursuant to the terms of this Agreement, or any applicable sub-servicing agreement or primary
servicing agreement, as the case may be, such Reporting Servicer shall provide a certification to the Certifying Person
pursuant to this Section 11.11 with respect to the period of time it was subject to this Agreement or the applicable
sub-servicing or primary servicing agreement, as the case may be. Notwithstanding the foregoing, the Trustee shall not be
required to deliver such certification with respect to any period during which there was no Relevant Servicing Criteria
applicable to it.

 

Notwithstanding the foregoing,
nothing in this Section 10.08 shall require any Reporting Servicer (i) to certify or verify the accurateness or completeness of
any information provided to such Reporting Servicer by third parties (other than a Sub-Servicer, Additional Servicer or any other
third party retained by it that is not a Sub-Servicer listed on Exhibit W or a Sub-Servicer appointed pursuant to Section
3.01(c)), (ii) to certify information other than to such Reporting Servicer’s knowledge and in accordance with such Reporting
Servicer’s responsibilities hereunder or (iii) with respect to completeness of information and reports, to certify anything
other than that all fields of information called for in written reports prepared by such Reporting Servicer have been completed
except as they have been left blank on their face.

 

Section
11.12 Indemnification. For so long as any Other
Securitization Trust is subject to the reporting requirements of the Exchange Act, each of the Master Servicer, the Special
Servicer, the Custodian (if the Custodian is a separate entity from the Certificate Administrator), the
Certificate Administrator and the Trustee shall indemnify and hold harmless each Certification Party, the Depositor (and any
Other Depositor related to an Other Securitization Trust that includes such Companion Loan), their respective directors and
officers, and each other person who controls any such entity within the meaning of either Section 15 of the Securities Act or
Section 20 of the Exchange Act, against any and all expenses, losses, claims, damages and other liabilities, including
without limitation the costs of investigation, legal defense and any amounts paid in settlement of any claim or litigation
arising out of (i) the failure to perform its obligations to the Depositor (or any Other Depositor related to an Other
Securitization Trust that includes such Companion Loan) or Certificate Administrator (or any Other Trustee related to an
Other Securitization Trust that includes such Companion Loan) under this Article XI by the time required after giving
effect to any applicable grace period or cure

 

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period, (ii) any untrue statement or alleged untrue statement of a material
fact contained in any information (x) regarding such party or any Servicing Function Participant, Additional Servicer or
subcontractor engaged by it (other than any Trust Loan Seller Sub-Servicer), (y) prepared by any such party described in
clause (x) or any registered public accounting firm, attorney or other agent retained by such party to prepare
such information and (z) delivered by or on behalf of such party in connection with the performance of such party’s
obligations described in this Article XI, or the omission or alleged omission to state in any such information a
material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not
misleading; provided, that the applicable party shall be entitled to participate in any action arising out of the foregoing
and the Depositor shall consult with such party with respect to any litigation or audit strategy, as applicable, in
connection with the foregoing and any potential settlement terms related thereto, (iii) the failure of any Servicing Function
Participant or Additional Servicer retained by it (other than a Trust Loan Seller Sub-Servicer) to perform its obligations to
the Depositor (or any Other Depositor related to an Other Securitization Trust that includes such Companion Loan) or
Certificate Administrator (or any Other Trustee related to an Other Securitization Trust that includes such Companion Loan)
under this Article XI by the time required after giving effect to any applicable grace period and cure period or (iv)
any Deficient Exchange Act Deliverable.

 

In addition, each of the Master
Servicer, the Special Servicer, the Custodian, the Certificate Administrator and the Trustee shall cooperate (and require each
Servicing Function Participant and Additional Servicer retained by it to cooperate under the applicable Sub-Servicing Agreement)
with the Depositor or the Other Depositor as necessary for the Depositor or the Other Depositor to conduct any reasonable due diligence
necessary to evaluate and assess any material instances of non-compliance disclosed in any of the deliverables required by the
applicable reporting requirements under the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and the rules and regulations
promulgated thereunder (“Reporting Requirements”).

 

In connection with comments provided
to the Depositor or any Other Depositor from the Commission regarding information (x) delivered by the Master Servicer, the Special
Servicer, the Custodian, the Certificate Administrator, the Trustee, a Servicing Function Participant or an Additional Servicer,
as applicable (“Affected Reporting Party”), (y) regarding such Affected Reporting Party, and (z) prepared by
such Affected Reporting Party or any registered public accounting firm, attorney or other agent retained by such party to prepare
such information, which information is contained in a report filed by the Depositor or Other Depositor under the Reporting Requirements
and which comments are received subsequent to the Depositor’s or Other Depositor’s filing of such report, the Depositor
or Other Depositor shall promptly provide to such Affected Reporting Party any such comments which relate to such Affected Reporting
Party. Such Affected Reporting Party shall be responsible for timely preparing a written response to the Commission for inclusion
in the Depositor’s or Other Depositor’s response to the Commission, unless such Affected Reporting Party elects, with
the consent of the Depositor or Other Depositor, as applicable (which consent shall not be unreasonably denied, withheld or delayed),
to directly communicate with the Commission and negotiate a response and/or resolution with the Commission; provided, if an Affected
Reporting Party is a Servicing Function Participant or Additional Servicer retained by the Master Servicer, the Master Servicer
shall receive copies of all material communications pursuant to this paragraph. If such election is made, the applicable Affected
Reporting Party shall be responsible

 

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for directly negotiating such response and/or resolution with the Commission in a timely manner;
provided, that (i) such Affected Reporting Party shall use reasonable efforts to keep the Depositor or Other Depositor informed
of its progress with the Commission and copy the Depositor or Other Depositor on all correspondence with the Commission and provide
the Depositor or Other Depositor with the opportunity to participate (at the Depositor’s or Other Depositor’s expense)
in any telephone conferences and meetings with the Commission and (ii) the Depositor or Other Depositor shall cooperate with any
Affected Reporting Party in order to authorize such Affected Reporting Party and its representatives to respond to and negotiate
directly with the Commission with respect to any comments from the Commission relating to such Affected Reporting Party and to
notify the Commission of such authorization. The Depositor (or Other Depositor) and the Affected Reporting Party shall cooperate
and coordinate with one another with respect to any requests made to the Commission for extension of time for submitting a response
or compliance. All respective reasonable out-of-pocket costs and expenses incurred by the Depositor or Other Depositor (including
reasonable legal fees and expenses of outside counsel to the Depositor or Other Depositor, as the case may be) in connection with
the foregoing (other than those costs and expenses required to be at the Depositor’s or Other Depositor’s expense as
set forth above) 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 the Depositor or Other Depositor, as the case may be. Each of
the Master Servicer, the Special Servicer, the Custodian, the Certificate Administrator and the Trustee shall use commercially
reasonable efforts to cause any Servicing Function Participant or Additional Servicer retained by it to comply with the foregoing
by inclusion of similar provisions in the related sub-servicing or similar agreement.

 

The Master Servicer, the Special
Servicer, the Certificate Administrator, the Trustee and the Custodian shall use commercially reasonable efforts to cause each
Servicing Function Participant (other than (x) any party to this Agreement or (y) a Trust Loan Seller Sub-Servicer) with which
it has entered into a servicing relationship with respect to the Trust Loan to indemnify and hold harmless each Certification Party
from and against any losses, damages, penalties, fines, forfeitures, legal fees and expenses and related costs, judgments and other
costs and expenses incurred by such Certification Party arising out of (i) a breach of its obligations to provide any of the annual
compliance statements or annual assessment of servicing criteria or attestation reports pursuant to this Agreement, or the applicable
Sub-Servicing Agreement, as applicable or (ii) any Deficient Exchange Act Deliverable.

 

If the indemnification provided
for herein is unavailable or insufficient to hold harmless any Certification Party, then the Master Servicer, the Special Servicer,
the Certificate Administrator, the Trustee, the Custodian, each Additional Servicer or other Servicing Function Participant (the
“Performing Party”) shall, and the Master Servicer, the Special Servicer, the Certificate Administrator and
the Trustee shall use commercially reasonable efforts to cause each Servicing Function Participant with which it has entered into
a servicing relationship (other than (x) a party to this Agreement or (y) any Trust Loan Seller Sub-Servicer) with respect to the
Trust Loan to contribute to the amount paid or payable to the Certification Party as a result of the losses, claims, damages or
liabilities of the Certification Party in such proportion as is appropriate to reflect the relative fault of the Certification
Party on the one hand and the Performing Party on the other in connection with a breach of the Performing Party’s obligations
pursuant to this Article XI. The Master Servicer, the Special Servicer, the Certificate

 

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Administrator, the Custodian and
the Trustee shall use commercially reasonable efforts to cause each Servicing Function Participant (other than (x) any party to
this Agreement or (y) Trust Loan Seller Sub-Servicers) with which it has entered into a servicing relationship with respect to
the Trust Loan to agree to the foregoing indemnification and contribution obligations.

 

Promptly after receipt by an
indemnified party of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to
be made against the indemnifying party hereunder, notify in writing the indemnifying party of the commencement thereof; but the
omission to so notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party
under this Agreement except to the extent that such omission to notify materially prejudices the indemnifying party. In case any
such action is brought against any indemnified party, after the indemnifying party has been notified of the commencement of such
action, such indemnifying party shall be entitled to participate therein (at its own expense) and, to the extent that it may wish,
shall be entitled to assume the defense thereof (jointly with any other indemnifying party similarly notified) with counsel reasonably
satisfactory to such indemnified party (which approval shall not be unreasonably withheld or delayed), and after notice from the
indemnifying party to such indemnified party of its election to so assume the defense thereof, the indemnifying party shall not
be liable to such indemnified party for any expenses subsequently incurred in connection with the defense thereof other than reasonable
costs of investigation. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees
and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified
party shall have agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded
parties and, in the case of an investigation by the Commission, any parties that are, or whose reporting materials are, the subject
of such investigation) include both the indemnifying party and the indemnified party and representation of both parties by the
same counsel would be inappropriate due to actual or potential differing interests between them or (iii) the indemnifying party
fails within a reasonable period of time to designate counsel that is reasonably satisfactory to the indemnified party (which approval
shall not be unreasonably withheld or delayed). In no event shall the indemnifying parties be liable for fees and expenses of more
than one counsel (in addition to any local counsel) in any one jurisdiction separate from their own counsel for all indemnified
parties in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the
same general allegations or circumstances. An indemnifying party shall not be liable for any settlement of any proceeding effected
without its written consent. However, if settled with such consent, the indemnifying party shall indemnify the indemnified party
from and against any loss or liability by reason of such settlement to the extent that the indemnifying party is otherwise required
to do so under this Agreement. If an indemnifying party assumes the defense of any proceeding, it shall be entitled to settle such
proceeding with the consent of the indemnified party (which consent shall not be unreasonably withheld or delayed) or, if such
settlement (i) provides for an unconditional release of the indemnified party in connection with all matters relating to the proceeding
that have been asserted against the indemnified party in such proceeding by the other parties to such settlement and (ii) does
not require an admission of fault by the indemnified party, without the consent of the indemnified party.

 

Section
11.13 Amendments. This Article XI may be amended by
the parties hereto pursuant to Section 11.08 of this Agreement for purposes of complying with Regulation

 

    -292-

     

    

 

AB, the Act
or the Exchange Act and/or to conform to standards developed within the commercial mortgage-backed securities market and the
Sarbanes-Oxley Act without any Opinions of Counsel, Officer’s Certificates, Rating Agency Confirmations or the consent
of any Certificateholder, notwithstanding anything to the contrary contained in this Agreement.

 

Section
11.14 Termination of the Certificate Administrator. Notwithstanding anything to the contrary contained in this
Agreement, the Depositor or any Other Depositor may terminate the Certificate Administrator upon five (5) Business
Days’ notice if the Certificate Administrator fails to comply with any of its obligations under this Article XI;
provided that such termination shall not be effective until a successor Certificate Administrator shall have accepted the
appointment.

 

Section
11.15 Termination of Sub-Servicing Agreements. For so long
as any Other Securitization Trust is subject to the reporting requirements of the Exchange Act, each of the Master Servicer,
the Certificate Administrator, the Trustee and the Custodian, as applicable, shall (i) cause each Sub-Servicing Agreement to
which it is a party to entitle the Depositor or any Other Depositor to terminate such agreement (without compensation,
termination fee or the consent of any other Person) at any time following any failure of the applicable Sub-Servicer to any
deliver any Exchange Act reporting items that such Sub-Servicer is required to deliver under Regulation AB or as otherwise
contemplated by this Article XI and (ii) promptly notify the Depositor and any Other Depositor following any failure
of the applicable Sub-Servicer to deliver any Exchange Act reporting items that such Sub-Servicer is required to
deliver under Regulation AB or as otherwise contemplated by this Article XI. The Depositor and any Other Depositor is
hereby authorized to exercise the rights described in clause (i) of the preceding sentence in its sole discretion. The rights
of the Depositor and any Other Depositor to terminate a Sub-Servicing Agreement as aforesaid shall not limit any right the
Master Servicer, the Certificate Administrator, the Trustee or the Custodian, as applicable, may have to terminate such
Sub-Servicing Agreement.

 

Section
11.16 Notification Requirements and Deliveries in Connection with Securitization of a Companion Loan. (a) Any
other provision of this Article XI to the contrary notwithstanding, including, without limitation, any deadlines for
delivery set forth in this Article XI, in connection with the requirements contained in this Article XI that
provide for the delivery of information and other items to, and the cooperation with, the Other Depositor and Other Exchange
Act Reporting Party of any Other Securitization Trust that includes a Companion Loan, no party hereunder shall be obligated
to provide any such items to or cooperate with such Other Depositor or Other Exchange Act Reporting Party (i) until the Other
Depositor or Other Exchange Act Reporting Party of such Other Securitization Trust has provided each party hereto with not
less than 30 days written notice (which shall only be required to be delivered once and each party shall be entitled to
conclusively rely on such notice until a Responsible Officer thereof has received a subsequent notice), setting forth the
contact information for such Person(s) and, except as regards the deliveries and cooperation contemplated by Section
11.07, Section 11.08 and Section 11.09 of this Agreement, stating that such Other Securitization Trust is
subject to the reporting requirements of the Exchange Act, and (ii) specifying in reasonable detail the information and other
items not otherwise specified in this Agreement that are requested to be delivered; provided that if Exchange Act
reporting is being requested, such Other Depositor or Other Exchange Act Reporting Party is only required to provide a single
written notice to such

 

    -293-

     

    

 

effect. Any reasonable cost and expense of the Master Servicer, Special Servicer, Trustee, Certificate
Administrator and Custodian in cooperating with such Other Depositor or Other Exchange Act Reporting Party of such Other
Securitization Trust (above and beyond their expressed duties hereunder) shall be the responsibility of such Other
Depositor or Other Securitization Trust. The parties hereto shall have the right to confirm in good faith with the Other
Depositor of such Other Securitization Trust as to whether applicable law requires the delivery of the items identified in
this Article XI to such Other Depositor and Other Exchange Act Reporting Party of such Other Securitization Trust
prior to providing any of the reports or other information required to be delivered under this Article XI in
connection therewith and (i) upon such confirmation, the parties shall comply with the deadlines for delivery set forth in
this Article XI with respect to such Other Securitization Trust or (ii) in the absence of such confirmation, the
parties shall not be required to deliver such items; provided that no such confirmation will be required in connection
with any delivery of the items contemplated by Section 11.07, Section 11.08 and Section 11.09 of this
Agreement. Such confirmation shall be deemed given if the Other Depositor or Other Exchange Act Reporting Party for the Other
Securitization Trust provides a written statement to the effect that the Other Securitization Trust is subject to the
reporting requirements of the Exchange Act and the appropriate party hereto receives such written statement. The parties
hereunder shall also have the right to require that such Other Depositor provide them with the contact details of such Other
Depositor, Other Exchange Act Reporting Party and any other parties to the Other Pooling and Servicing Agreement relating to
such Other Securitization Trust.

 

(b)          Each of the Master Servicer,
the Special Servicer, the Certificate Administrator, the Trustee and the Custodian shall, upon reasonable prior written request
given in accordance with the terms of Section 11.16(a) above, and subject to a right of the Master Servicer, Special Servicer,
Certificate Administrator, Trustee or Custodian, as the case may be, to review and approve such disclosure materials, permit each
Companion Loan Holder to use such party’s description contained in the Offering Circular (updated as appropriate by the Master
Servicer, the Special Servicer, Certificate Administrator, Trustee or Custodian, as applicable, at the reasonable cost of the Other
Depositor) for inclusion in the disclosure materials relating to any securitization of a Companion Loan.

 

(c)           The Master Servicer, the
Special Servicer, the Certificate Administrator , the Trustee and the Custodian, upon reasonable prior written request given in
accordance with the terms of Section 11.16(a) above, shall each timely provide (to the extent the reasonable cost thereof
is paid or caused to be paid by the requesting party) to the Other Depositor and any underwriters with respect to any securitization
transaction that includes a Companion Loan such opinion(s) of counsel, certifications and/or indemnification agreement(s) with
respect to the updated description referred in Section 11.16(b) with respect to such party, substantially identical to those,
if any, delivered by the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator or the Custodian, as
the case may be, or their respective counsel, in connection with the information concerning such party in the Offering Circular
and/or any other disclosure materials relating to this Trust (updated as deemed appropriate by the Master Servicer, the Special
Servicer, the Trustee, the Certificate Administrator or the Custodian, or their respective legal counsel, as the case may be, and
sufficient to comply with Regulation AB). None of the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator
or

 

    -294-

     

    

 

the Custodian shall be obligated to deliver any such item with respect to the securitization of a Companion Loan if it did not
deliver a corresponding item with respect to this Trust.

 

[NO FURTHER TEXT ON THIS PAGE]

 

    -295-

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused their names to be signed hereto by their respective officers thereunto duly authorized all as of the day and
year first above written.

 

	 	DEUTSCHE
    MORTGAGE & ASSET RECEIVING CORPORATION, 

    as Depositor	 
	 	 	 	 
	 	By:	/s/
    Natalie Grainger	 
	 	 	Name: Natalie Grainger	 
	 	 	Title: Director	 
	 	 	 	 
	 	By:	/s/ Matt Smith	 
	 	 	Name: Matt Smith	 
	 	 	Title: Director	 
	 	 	 	 

	 	Wells Fargo Bank, National Association,

as
    Master Servicer
 	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Nachette Hadden	 
	 	 	Name: Nachette Hadden	 
	 	 	Title: Director	 
	 	 	 	 

	 	Pacific Life Insurance Company,
 	 
	 	as Special Servicer	 
	 	 	 	 
	 	By:	/s/ M. A. Stickles	 
	 	 	Name: M. A. Stickles	 
	 	 	Title:   Vice President	 
	 	 	 	 
	 	By:	/s/ DeAnne
    A. Reed	 
	 	 	Name: DeAnne A. Reed	 
	 	 	Title:   Assistant Secretary	 

 

DBJPM
2016-SFC: Trust and Servicing Agreement

 

     

     

    

 

	 	WILMINGTON TRUST, NATIONAL ASSOCIATION,
 	 
	 	as Trustee	 
	 	 	 	 
	 	By:	/s/ Adam B. Scozzafava	 
	 	 	Name: Adam B. Scozzafava	 
	 	 	Title: Vice President	 
	 	 	 	 
	 	DEUTSCHE
    BANK TRUST COMPANY AMERICAS, as Certificate Administrator, Custodian and Paying Agent	 
	 	 	 	 
	 	By:	/s/
    James Noriega	 
	 	 	Name:
    James Noriega	 
	 	 	Title:
    Associate	 
	 	 	 	 
	 	By:	/s/
    Tuan Quach	 
	 	 	Name:
    Tuan Quach	 
	 	 	Title:
    Associate	 

 

DBJPM 2016-SFC: Trust
and Servicing Agreement

 

     

     

    

 

	STATE OF New York	)	 
	 	)   ss:  	 
	COUNTY OF New York	)	 

 

On this 3rd day
of August 2016, before me, the undersigned, a Notary Public in and for the State of New York, duly commissioned and sworn,
personally appeared Natalie Grainger & Matt Smith, to me known who, by me duly sworn, did depose and acknowledge before me
and say that s/he has offices at  60 wall street and that s/he is the
Director & Director of Deutsche Mortgage & Asset Receiving Corporation, the entity described in and that executed the
foregoing instrument; and that s/he signed her/his name thereto under authority of the board of directors of said entity and on
behalf of such entity.

 

WITNESS my hand and seal hereto affixed the day and year first above written.

 

	 	/s/ Christine L. Last
	 	NOTARY PUBLIC in and for the
	Christine L. Last

    Notary Public - State of New York

    No. 01LA6274862

    Qualified in New York County

    My Commission Expires January 14, 2017	State of New York
	[SEAL]	 
	 	 
	My Commission expires:	 
	 	 
	1/14/17	 

 

     

     

    

 

	STATE OF NORTH CAROLINA	)	 
	 	): ss.  	 
	COUNTY OF MECKLENBURG	)	 

 

On this
28 day of July, 2016, personally appeared before me Nachette Hadden, to me known (or proved to me on the basis of satisfactory
evidence) to be a Director of Wells Fargo Bank, National Association, a national banking association, that executed the within
and foregoing instrument, and acknowledged that said instrument to be the free and voluntary act and deed of said entity, for
the uses and purposes therein mentioned, and on oath stated that she was authorized to execute said instrument, and that by her
signature on the instrument the entity upon behalf of which she acted, executed the instrument.

 

	 	/s/ Erica L. Smith	 
	 	Notary	 
	 	Name:	 

 

	My
Commission expires:	ERICA
L. SMITH

NOTARY PUBLIC 

Gaston County 

North Carolina 

My Commission Expires 7/15/2017	 

  

     

     

    

 

 

ACKNOWLEDGMENT

 

	 	 
	A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.	 

 

State of California

County of         Orange                                 ) 

	 	 
	On      July 28, 2016                             
    before me,	Anita Munoz, as Notary Public,
	 	(insert name and title of the officer)

 

personally appeared      M.A. Stickles
                  and                        DeAnne A. Reed                               , who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are
subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies),
and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted,
executed the instrument.

 

I certify under PENALTY OF PERJURY under the laws of the State of California that the
foregoing paragraph is true and correct.

 

	 	 	 	 
	WITNESS my hand and official seal.	 	ANITA MUNOZ

Commission # 2078883

Notary Public - California

Orange County

My Comm. Expires Aug 21, 2018
	 	 
	Signature	/s/ ANITA MUNOZ	(Seal)

 

 

    

     

    

 

	 	 
	STATE OF Delaware	)
	 	)     ss:
	COUNTY OF New Castle	)

 

On
this 28th day of August 2016, before me, the undersigned, a Notary Public
in and for the State of Delaware, duly commissioned and sworn, personally appeared
Adam B. Scozzafava, to me known who,
by me duly sworn, did depose and acknowledge before me and say that s/he has offices at 1100
North Market Street, Wilmington, DE 19890 and that s/he is the Vice President of
Wilmington Trust, National Association, the entity described in and that executed the foregoing instrument; and that s/he signed
her/his name thereto under authority of the board of directors of said entity and on behalf of such entity.

 

WITNESS my hand and seal hereto affixed the day and year
first above written. 

	 	 
	 	/s/ Christina Bader
	 	NOTARY PUBLIC in and for the
	 	State of Delaware
	 	 
	[SEAL]	CHRISTINA BADER

MY COMMISSION 

EXPIRES

MARCH 22, 2020

NOTARY PUBLIC

STATE OF DELAWARE
	 
	My Commission expires:

 

    

     

    

 

	A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

 

STATE OF CALIFORNIA

COUNTY OF ORANGE

 

On August 1, 2016 before me, Luz A. Meda, a Notary Public, personally
appeared James Noriega & Tuan Quach, who proved to me on the basis of satisfactory evidence to be the persons whose
names are subscribed to the within instrument and acknowledged to me that they executed that same in their authorized capacities,
and that by their signatures on the instrument the persons, or the entity upon behalf of which the persons acted, executed the
instrument.

 

I certify under PENALTY OF PERJURY under the laws of the State of California
that the foregoing paragraph is true and correct. 

	 	 
	WITNESS my hand and official seal.

(SEAL)	 
	 	 
	 	/s/ Luz A. Meda
	 	Signature of Notary Public
	 	 
	LUZ A. MEDA

Commission # 2139393

Notary Public - California

Orange County

My Comm. Expires Jan 7, 2020	 

 

    

     

    

 

EXHIBIT A-1

FORM OF CLASS A [RULE 144A]1
[REG S]2
CERTIFICATE

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO., OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO.,
OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3

 

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR
FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR THAT
THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”) PURCHASING FOR ITS OWN ACCOUNT, OR A PERSON PURCHASING FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL
BUYER, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE
ON RULE 144A, (3) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTIONAL INVESTOR THAT IS AN “ACCREDITED INVESTOR,”
AS SUCH TERM IS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL
OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS” AS SUCH TERM IS DEFINED IN RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTION THAT
IS A NOT A “U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE

 

 

1
                                         For Rule 144A Global Certificates only.

2
For Reg S Global Certificates only.

3
Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

    	A-1-1 

     

    

 

DEFINED IN, AND IN ACCORDANCE
WITH, RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO DELIVER
AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE TRUST AND SERVICING AGREEMENT IF SUCH TRANSFEREE
IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED INVESTOR,
AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A.

 

THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION
3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS TO A MATERIAL EXTENT
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE INVESTMENT FUND IN WHICH
SUCH PLANS ARE INVESTED, AN INSURANCE COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS
(OR WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH
PLAN OR USING THE ASSETS OF ANY SUCH PLAN, UNLESS (A) THE TRANSFEREE HAS ACQUIRED AND IS HOLDING THIS CERTIFICATE IN RELIANCE ON
THE EXEMPTIONS GRANTED TO DEUTSCHE BANK SECURITIES INC. AS DEPARTMENT OF LABOR FINAL AUTHORIZATION NUMBER 97-03E AND TO J.P. MORGAN
SECURITIES LLC, AS PROHIBITED TRANSACTION EXEMPTION 2002-19, EACH AS AMENDED BY PROHIBITED TRANSACTION EXEMPTION 2013-08 AND IT
UNDERSTANDS THAT THERE ARE CERTAIN CONDITIONS TO THE AVAILABILITY OF THE EXEMPTIONS, INCLUDING THAT THIS CERTIFICATE MUST BE RATED,
AT THE TIME OF PURCHASE, NOT LOWER THAN “BBB-” (OR ITS EQUIVALENT) BY A RATING AGENCY SET FORTH THEREIN AND THAT THIS
CERTIFICATE IS SO RATED AND IT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES
AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, OR (B) (1) IT IS AN INSURANCE COMPANY, (2) THE SOURCE OF

 

    	A-1-2 

     

    

 

FUNDS USED TO
ACQUIRE OR HOLD THIS CERTIFICATE OR INTEREST THEREIN IS AN “INSURANCE COMPANY GENERAL ACCOUNT,” AS SUCH TERM IS DEFINED
IN PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND (3) THE CONDITIONS IN SECTIONS I AND III OF PTCE 95-60
HAVE BEEN SATISFIED OR (C) IN THE CASE OF A TRANSFEREE WHICH IS SUBJECT TO SIMILAR LAW, ITS ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE WILL NOT RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER, THE SPECIAL SERVICER AND THE DEPOSITOR AGAINST ANY LIABILITY THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT
FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING TRUST LOAN ARE INSURED OR GUARANTEED
BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED

 

    	A-1-3 

     

    

 

STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]1

 

 

1
For Reg S Global Certificates only.

 

    	A-1-4 

     

    

 

DBJPM 2016-SFC MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A

 

	Class A Pass-Through Rate:  2.8330%	 	
        CUSIP:  23312R AA31

 U2402A AA22

         

        ISIN:     US23312RAA32 3

 USU2402AAA264

	 	 	 
	Original Aggregate Certificate Balance of the Class A Certificates: $150,000,000	 	Initial Certificate Balance of this Certificate: $[_____] (SUBJECT TO SCHEDULES OF EXCHANGES ATTACHED)
	 	 	 
	First Distribution Date:  September 12, 2016	 	Cut-off Date: August 1, 2016
	 	 	 
	Assumed Final Distribution Date: August 2026	 	No.: A- [__]

 

This certifies that [              ]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class A Certificates. The Trust Fund, described more fully below, consists primarily of a Trust Loan secured by a partial
interest in a first lien mortgage on the fee simple interest in a super regional mall and office property and held in trust by
the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Trust Loan is to be serviced, pursuant to
the Trust and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.

 

The Trust and Servicing Agreement,
dated as of August 1, 2016 (the “Trust and Servicing Agreement”), between Deutsche Mortgage & Asset Receiving
Corporation, as depositor (the “Depositor”), Wells Fargo Bank, National Association, as master servicer (the
“Master Servicer”), Pacific Life Insurance Company, as special servicer (the “Special Servicer”),
Wilmington Trust, National Association, as trustee (the “Trustee”), and Deutsche Bank Trust Company Americas,
as certificate administrator (in such capacity, the “Certificate Administrator”), custodian and paying agent,
evidences the issuance of the Class A, Class X-A. Class B, Class C, Class D, Class R and Class LR Certificates (the “Certificates”;
the Holders of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Trust and Servicing Agreement. To the extent not
defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Trust and Servicing Agreement.

 

 

1
For Rule 144A Certificates.

 

2
For Regulation S Certificates.

 

3 For Rule 144A Certificates.

 

4 For Regulation S Certificates.

 

    	A-1-5 

     

    

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of the Trust and
Servicing Agreement, such provision of this Certificate shall be superseded by the Trust and Servicing Agreement to the extent
of such inconsistency.

 

Pursuant to the terms of
the Trust and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A Certificates for such Distribution Date, all as more fully described in the Trust and Servicing
Agreement. “Determination Date” is defined in the Trust and Servicing Agreement as the 6th day of each calendar month,
or if such 6th day is not a Business Day, then the immediately succeeding Business Day, commencing in September 2016. Holders of
this Certificate may be entitled to Prepayment Charges as provided in the Trust and Servicing Agreement.

 

During each Certificate Interest
Accrual Period (as defined below), interest on the Class A Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months, on the outstanding Certificate Balance hereof.

 

Interest accrued on this
Certificate during a Certificate Interest Accrual Period, plus the aggregate unpaid Class Interest Shortfall with respect to this
Certificate, if any, will be payable on the related Distribution Date to the extent provided in the Trust and Servicing Agreement.
The “Certificate Interest Accrual Period” means, with respect to any Distribution Date, the calendar month immediately
preceding the month in which such Distribution Date occurs. The Certificate Interest Accrual Period is assumed to consist of 30
days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month immediately preceding the month in which such Distribution Date occurs. Such distributions shall be made on each
Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer
of immediately available funds to the account of such Holder at a bank or other entity located in the United States and having
appropriate facilities therefor, provided that such Holder shall have provided the Paying Agent with wire instructions in
writing at least five Business Days prior to the related

 

    	A-1-6 

     

    

 

Record Date, or, otherwise, by check mailed by first-class mail to the
address set forth therefor in the Certificate Register. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent (which
may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such final
distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Trust and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Trust and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest
shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with the Trust and Servicing Agreement. Such funds held by
the Certificate Administrator may be invested under certain circumstances, and all income and gain realized from investment of
such funds shall accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Trust Loan, as more specifically
set forth herein and in the Trust and Servicing Agreement.

 

As provided in the Trust
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein) (i) the
Trust Loan, together with the Mortgage File relating thereto; (ii) all scheduled or unscheduled payments on or collections
in respect of the Trust Loan due after the Cut-off Date; (iii) the REO Property; (iv) all revenues received in respect
of the REO Property; (v) any indemnities or guaranties given as additional security for the Trust Loan; (vi) a security
interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve Accounts; (vii) amounts
on deposit in the Collection Account attributable to the Trust Loan as identified on the Trust Ledger, the Distribution Accounts,
the Interest Reserve Account or any REO Account, including any reinvestment income, as applicable; (viii) a security interest
in any environmental indemnity agreements relating to the Mortgaged Property; (ix) a security interest in all insurance policies
with respect to the Trust Loan and the Mortgaged Property; (x) the rights and remedies under the

 

    	A-1-7 

     

    

 

Trust Loan Purchase Agreements
relating to document delivery requirements with respect to the Trust Loan and the representations and warranties of the Trust Loan
Sellers regarding the Trust Loan; (xi)  the Lower-Tier Regular Interests; and (xii) the proceeds of the foregoing (other
than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts,
to the extent such interest belongs to the Borrower). As provided in the Trust and Servicing Agreement, withdrawals may be made
from certain of the above-accounts for purposes other than distributions to Certificateholders.

 

This Certificate does not
purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Trust and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Trust and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Trust and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate
is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice
or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Trust and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Trust and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Trust and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar
may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection
with any such transfer.

 

The Trust and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate

 

    	A-1-8 

     

    

 

Administrator and the Trustee without the consent of any of the Certificateholders, (i) to cure any ambiguity or to correct
any error; (ii) to cause the provisions of the Trust and Servicing Agreement to conform or be consistent with or in furtherance
of the statements made in the Offering Circular with respect to the Certificates, the Trust or the Trust and Servicing Agreement
or to correct or supplement any provisions of the Trust and Servicing Agreement or herein which may be defective or inconsistent
with any other provisions of the Trust and Servicing Agreement or herein; (iii) to amend any provision of the Trust and Servicing
Agreement to the extent necessary or desirable to maintain the rating or ratings assigned to each of the Classes of Certificates
or Companion Loan Securities by each Rating Agency (provided that such amendment does not adversely affect in any material
respect (x) the interests of any Certificateholder or Companion Loan Holder not consenting thereto or (y) the rights or interests
of the Directing Holder without the consent of the Holders of Certificates representing all of the Percentage Interests of the
Controlling Class); (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Trust and Servicing Agreement, or any other change that will not adversely affect in any material
respect the interests of any Certificateholder or Companion Loan Holder not consenting thereto (as evidenced in writing by an Opinion
of Counsel or, if solely affecting any Certificateholder of a rated Class or Companion Loan Holder, in respect of which a
No Downgrade Confirmation has been obtained relating to the Certificates or the Companion Loan Securities, if applicable); and
(v) to modify the procedures in the Trust and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such modification does not materially increase the obligations of the Depositor, the Trustee, the Paying Agent,
the Certificate Administrator, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such parties’
consent; and provided, further, that such amendment shall not adversely affect in any material respects the interests
of any Certificateholders or Companion Loan Holders not consenting thereto, as evidenced by in the case of clauses (iii) through
(v) above by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No
Downgrade Confirmation from each Rating Agency and a No Downgrade Confirmation with respect to any Companion Loan Securities. In
no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or subject either
REMIC to tax.

 

The Trust and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator and the Trustee with the prior written consent of the Holders of Certificates representing not less than
66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to Certificates held by the
Depositor, any of the Depositor’s Affiliates and/or agents or the Trust Loan Sellers) and the Companion Loan Holders affected
thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust
and Servicing Agreement or modifying in any manner the rights of the Certificateholders; provided, however, that
no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Whole Loan
which are required to be distributed on any Certificate, without the consent of the Holders of Certificates representing all of
the Percentage Interests of the Class or Classes affected thereby or 

 

    	A-1-9 

     

    

 

which are required to be distributed to any Companion Loan
Holder without the consent of such Companion Loan Holder;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Trust and Servicing Agreement without the consent of the Holders of
Certificates representing all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected
Companion Loan Holder;

 

		(iii)	alter the Servicing Standard or obligations of the Master Servicer or the Trustee to make a P&I
Advance, Administrative Advance or a Property Advance, without the consent of the Holders of Certificates representing all of the
Percentage Interests of the Class or Classes affected thereby and the consent of any affected Companion Loan Holder; or

 

		(iv)	amend any section of the Trust and Servicing Agreement which relates to the amendment of the Trust
and Servicing Agreement without the consent of the Holders of all Certificates representing all of the Percentage Interests of
the Class or Classes affected thereby and the consent of any affected Companion Loan Holder.

 

Further, the Depositor, the
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee, at any time and from time to time, without
the consent of the Certificateholders, may amend the Trust and Servicing Agreement to modify, eliminate or add to any of its provisions
to such extent as shall be necessary: (i) to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or the Companion Loan Holders or (ii) to comply with the Investment
Company Act of 1940, as amended, and/or any related regulatory actions and/or interpretations.

 

The Directing Holder and
if the Directing Holder does not exercise such option, then the Special Servicer and if the Special Servicer does not exercise
such option, then the Master Servicer, and if the Master Servicer does not exercise its option, a Holder of a majority of the Percentage
Interest in the Class R and Class LR Certificates, may effect an early termination of the Trust Fund (provided that such
party has provided 15 Business Days’ prior notice to each of the parties with such option and none of the parties with a
higher priority has elected to exercise such option within such 15 Business Day period), upon not less than 30 days’ prior
Notice of Termination (which Notice of Termination shall satisfy the notice requirement of the proviso) given to the Trustee, the
Certificate Administrator, the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date
specifying the Anticipated Final Termination Date, by purchasing on such date all, but not less than all, of the Trust Loan then
included in the Trust Fund, and all, but not less than all, of the Trust’s interest in all property acquired in respect of
the Trust Loan, at a purchase price, payable in cash, equal to the greater of,

 

    	A-1-10 

     

    

 

		(i)	the sum of, without duplication:

 

		(A)	the outstanding principal balance of the Trust Loan as of the last day of the month preceding such
Anticipated Final Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Final Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of the Trust Loan (including if title to the
Mortgaged Property has been acquired) at the Trust Loan Rate to the last day of the Certificate Interest Accrual Period preceding
such Anticipated Final Termination Date (less any P&I Advances previously made on account of interest);

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Trustee/Certificate Administrator Fees, the CREFC® License
Fee and Trust Fund expenses and indemnity amounts owed by the Trust: and

 

(ii)          the aggregate
fair market value of the Trust Loan, and all other property acquired in respect of the Trust Loan in the Trust Fund, on the last
day of the month preceding such Distribution Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date, together with one month’s
interest thereon at the Trust Loan Rate.

 

In addition, the Trust and
Servicing Agreement provides that the Sole Certificateholder shall have the right to exchange all of its Certificates (other than
the Class R and Class LR Certificates) for the Trust Loan and the REO Property, as applicable, as contemplated by clause (ii)
of Section 9.01(a) of the Trust and Servicing Agreement by giving written notice to all the parties to the Trust and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.

 

All costs and expenses incurred
by any and all parties to the Trust and Servicing Agreement or by the Trust Fund in connection with the purchase of the Trust Loan
and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Trust and Servicing Agreement shall be borne by
the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely conclusively
on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Trust and Servicing Agreement.

 

    	A-1-11 

     

    

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee
created by the Trust and Servicing Agreement with respect to the Certificates (other than the obligations of the Certificate Administrator
to make certain payments and to send certain notices to Certificateholders as set forth in the Trust and Servicing Agreement) shall
terminate upon payment (or provision for payment) to the Certificateholders of all amounts held by or on behalf of the Trustee,
the Certificate Administrator and the Master Servicer, as the case may be, required under the Trust and Servicing Agreement to
be so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Trust Loan and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Trust and Servicing Agreement; (ii) the exchange by the Sole Certificateholder
of its Certificates for the Trust Loan in accordance with Section 9.01(g) of the Trust and Servicing Agreement; and (iii) the
later of (a) the receipt or collection of the last payment due on the Trust Loan included in the Trust Fund, or (b) the
liquidation and disposition pursuant to the Trust and Servicing Agreement of the last asset held by the Trust Fund; provided,
however, that in no event shall the trust created by the Trust and Servicing Agreement continue beyond the expiration of
21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.

 

Unless the Certificate of
Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating Agent,
by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be valid
for any purpose.

 

This Certificate does not purport to summarize
the Trust and Servicing Agreement and reference is made to that agreement for information with respect to the interests, rights,
benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the parties thereto. 
This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust and Servicing Agreement, to
which Trust and Servicing Agreement, as amended from time to time, the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.  In the case of any conflict between terms specified in this Certificate and terms
specified in the Trust and Servicing Agreement, the terms of the Trust and Servicing Agreement shall govern.

 

    	A-1-12 

     

    

 

IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class A Certificate to be duly executed.

	 	 	 	 	 
	Dated:	 	 	 	 
	 	 	 	 	 
	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Certificate Administrator
	 	 	 	 	 
	 	 	 	By:	 
	 	 	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
A Certificates referred to in the Trust and Servicing Agreement.

	 	 	 	 	 
	Dated:	 	 	 	 
	 	 	 	 	 
	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Authenticating Agent
	 	 	 	 	 
	 	 	 	By:	 
	 	 	 	 	Authorized Signatory

 

    	A-1-13 

     

    

 

SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

 

The following exchanges of a part of this Global
Certificate have been made:

 

    	A-1-14 

     

    

 

EXHIBIT A-2

 

FORM OF CLASS X-A [RULE 144A]1
[REG S]2
CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3

  

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR
FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR THAT
THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”) PURCHASING FOR ITS OWN ACCOUNT, OR A PERSON PURCHASING FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL
BUYER, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE
ON RULE 144A, (3) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTIONAL INVESTOR THAT IS AN “ACCREDITED INVESTOR,”
AS SUCH TERM IS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL
OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS” AS SUCH TERM IS DEFINED IN RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTION THAT
IS A NOT A “U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE

 

 

1
For Rule 144A Global Certificates only.

 

2
For Reg S Global Certificates only.

 

3
Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

    	A-2-1 

     

    

 

DEFINED IN, AND IN ACCORDANCE
WITH, RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

  

THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION
3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS TO A MATERIAL EXTENT
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE INVESTMENT FUND IN WHICH
SUCH PLANS ARE INVESTED, AN INSURANCE COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS
(OR WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH
PLAN OR USING THE ASSETS OF ANY SUCH PLAN, UNLESS (A) THE TRANSFEREE HAS ACQUIRED AND IS HOLDING THIS CERTIFICATE IN RELIANCE ON
THE EXEMPTIONS GRANTED TO DEUTSCHE BANK SECURITIES INC. AS DEPARTMENT OF LABOR FINAL AUTHORIZATION NUMBER 97-03E AND TO
J.P. MORGAN SECURITIES LLC, AS PROHIBITED TRANSACTION EXEMPTION 2002-19, EACH AS AMENDED BY PROHIBITED TRANSACTION EXEMPTION 2013-08
AND IT UNDERSTANDS THAT THERE ARE CERTAIN CONDITIONS TO THE AVAILABILITY OF THE EXEMPTIONS, INCLUDING THAT THIS CERTIFICATE MUST
BE RATED, AT THE TIME OF PURCHASE, NOT LOWER THAN “BBB-” (OR ITS EQUIVALENT) BY A RATING AGENCY SET FORTH THEREIN AND
THAT THIS CERTIFICATE IS SO RATED AND IT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF
THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, OR (B) (1) IT IS AN INSURANCE COMPANY, (2) THE SOURCE
OF FUNDS USED TO ACQUIRE OR HOLD THIS CERTIFICATE OR INTEREST THEREIN IS AN “INSURANCE COMPANY GENERAL ACCOUNT,” AS
SUCH TERM IS DEFINED IN PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND (3) THE CONDITIONS IN SECTIONS I
AND III OF PTCE 95-60 HAVE BEEN SATISFIED OR (C) IN THE CASE OF A TRANSFEREE WHICH IS SUBJECT TO SIMILAR LAW, ITS ACQUISITION,
HOLDING AND DISPOSITION OF THIS CERTIFICATE WILL NOT RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER, THE SPECIAL SERVICER AND THE DEPOSITOR AGAINST

 

    	A-2-2 

     

    

 

ANY LIABILITY THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT
FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING TRUST LOAN ARE INSURED OR GUARANTEED
BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THE HOLDERS OF THIS CLASS X-A CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-A CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY OF THE DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-A CERTIFICATES IS EQUAL TO AN AMOUNT
AS SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW AND WILL BE REDUCED IN CONNECTION WITH THE REDUCTION OF THE
PRINCIPAL BALANCE OF THE CLASS A AND CLASS B CERTIFICATES. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE AT
ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.

 

TRANSFERS AND EXCHANGES OF PORTIONS OF THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]1

 

 

1
For Reg S Global Certificates only.

 

    	A-2-3 

     

    

 

DBJPM 2016-SFC MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS X-A

 

	Class X-A Pass-Through Rate: Variable	 	
        CUSIP:  23312R AC91

        U2402A AB02

         

        ISIN:      US23312RAC973

         USU2402AAB094

	 	 	 
	Original Aggregate Notional Balance of the
    Class X-A Certificates: $185,000,000	 	Initial Notional Balance of this Certificate: $[_____] (SUBJECT TO SCHEDULES OF EXCHANGES ATTACHED)
	 	 	 
	First Distribution Date: September 12, 2016	 	Cut-off Date: August 1, 2016
	 	 	 
	Assumed Final Distribution Date: August 2026	 	No.: X-A-[__]

 

This certifies that [              ]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-A Certificates. The Trust Fund, described more fully below, consists primarily of a Trust Loan secured by a
partial interest in a first lien mortgage on the fee simple interest in a super regional mall and office property and held in trust
by the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Trust Loan is to be serviced, pursuant
to the Trust and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.

 

The Trust and Servicing Agreement,
dated as of August 1, 2016 (the “Trust and Servicing Agreement”), between Deutsche Mortgage & Asset Receiving
Corporation, as depositor (the “Depositor”), Wells Fargo Bank, National Association, as master servicer (the
“Master Servicer”), Pacific Life Insurance Company, as special servicer (the “Special Servicer”),
Wilmington Trust, National Association, as trustee (the “Trustee”), and Deutsche Bank Trust Company Americas,
as certificate administrator (in such capacity, the “Certificate Administrator”), custodian and paying agent,
evidences the issuance of the Class A, Class X-A, Class B, Class C, Class D, Class R and Class LR Certificates (the “Certificates”;
the Holders of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Trust and Servicing Agreement. To the extent not
defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Trust and Servicing Agreement.

 

 

1
For Rule 144A Certificates.

 

2
For Regulation S Certificates.

 

3
For Rule 144A Certificates.

 

4
For Regulation S Certificates.

 

    	A-2-4 

     

    

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of the Trust and
Servicing Agreement, such provision of this Certificate shall be superseded by the Trust and Servicing Agreement to the extent
of such inconsistency.

 

Pursuant to the terms of
the Trust and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-A Certificates for such Distribution Date, all as more fully described in the Trust and Servicing
Agreement. “Determination Date” is defined in the Trust and Servicing Agreement as the 6th day of each calendar month,
or if such 6th day is not a Business Day, then the immediately succeeding Business Day, commencing in September 2016. Holders of
this Certificate may be entitled to Prepayment Charges as provided in the Trust and Servicing Agreement.

 

During each Certificate Interest
Accrual Period (as defined below), interest on the Class X-A Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months, on the outstanding Certificate Balance hereof.

 

Interest accrued on this
Certificate during a Certificate Interest Accrual Period, plus the aggregate unpaid Class Interest Shortfall with respect to this
Certificate, if any, will be payable on the related Distribution Date to the extent provided in the Trust and Servicing Agreement.
The “Certificate Interest Accrual Period” means, with respect to any Distribution Date, the calendar month immediately
preceding the month in which such Distribution Date occurs. The Certificate Interest Accrual Period is assumed to consist of 30
days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month immediately preceding the month in which such Distribution Date occurs. Such distributions shall be made on each
Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer
of immediately available funds to the account of such Holder at a bank or other entity located in the United States and having
appropriate facilities therefor, provided that such Holder shall have provided the Paying Agent with wire instructions in
writing at least five Business Days prior to the related

 

    	A-2-5 

     

    

 

Record Date, or, otherwise, by check mailed by first-class mail to the
address set forth therefor in the Certificate Register. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent (which
may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such final
distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Trust and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Trust and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest
shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with the Trust and Servicing Agreement. Such funds held by
the Certificate Administrator may be invested under certain circumstances, and all income and gain realized from investment of
such funds shall accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Trust Loan, as more specifically
set forth herein and in the Trust and Servicing Agreement.

 

As provided in the Trust
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein) (i) the
Trust Loan, together with the Mortgage File relating thereto; (ii) all scheduled or unscheduled payments on or collections
in respect of the Trust Loan due after the Cut-off Date; (iii) the REO Property; (iv) all revenues received in respect
of the REO Property; (v) any indemnities or guaranties given as additional security for the Trust Loan; (vi) a security
interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve Accounts; (vii) amounts
on deposit in the Collection Account attributable to the Trust Loan as identified on the Trust Ledger, the Distribution Accounts,
the Interest Reserve Account or any REO Account, including any reinvestment income, as applicable; (viii) a security interest
in any environmental indemnity agreements relating to the Mortgaged Property; (ix) a security interest in all insurance policies
with respect to the Trust Loan and the Mortgaged Property; (x) the rights and remedies under the

 

    	A-2-6 

     

    

 

Trust Loan Purchase Agreements
relating to document delivery requirements with respect to the Trust Loan and the representations and warranties of the Trust Loan
Sellers regarding the Trust Loan; (xi)  the Lower-Tier Regular Interests; and (xii) the proceeds of the foregoing (other
than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts,
to the extent such interest belongs to the Borrower). As provided in the Trust and Servicing Agreement, withdrawals may be made
from certain of the above-accounts for purposes other than distributions to Certificateholders.

 

This Certificate does not
purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Trust and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Trust and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Trust and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate
is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice
or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Trust and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Trust and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Trust and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar
may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection
with any such transfer.

 

The Trust and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate

 

    	A-2-7 

     

    

 

Administrator and the Trustee without the consent of any of the Certificateholders, (i) to cure any ambiguity or to correct
any error; (ii) to cause the provisions of the Trust and Servicing Agreement to conform or be consistent with or in furtherance
of the statements made in the Offering Circular with respect to the Certificates, the Trust or the Trust and Servicing Agreement
or to correct or supplement any provisions of the Trust and Servicing Agreement or herein which may be defective or inconsistent
with any other provisions of the Trust and Servicing Agreement or herein; (iii) to amend any provision of the Trust and Servicing
Agreement to the extent necessary or desirable to maintain the rating or ratings assigned to each of the Classes of Certificates
or Companion Loan Securities by each Rating Agency (provided that such amendment does not adversely affect in any material
respect (x) the interests of any Certificateholder or Companion Loan Holder not consenting thereto or (y) the rights or interests
of the Directing Holder without the consent of the Holders of Certificates representing all of the Percentage Interests of the
Controlling Class); (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Trust and Servicing Agreement, or any other change that will not adversely affect in any material
respect the interests of any Certificateholder or Companion Loan Holder not consenting thereto (as evidenced in writing by an Opinion
of Counsel or, if solely affecting any Certificateholder of a rated Class or a Companion Loan Holder, in respect of which
a No Downgrade Confirmation has been obtained relating to the Certificates or the Companion Loan Securities, if applicable); and
(v) to modify the procedures in the Trust and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act;
provided that such modification does not materially increase the obligations of the Depositor, the Trustee, the Paying Agent,
the Certificate Administrator, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such parties’
consent; and provided, further, that such amendment shall not adversely affect in any material respects the interests
of any Certificateholders or Companion Loan Holders not consenting thereto, as evidenced by in the case of clauses (iii) through
(v) above by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No
Downgrade Confirmation from each Rating Agency and a No Downgrade Confirmation with respect to any Companion Loan Securities. In
no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or subject either
REMIC to tax.

 

The Trust and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator and the Trustee with the prior written consent of the Holders of Certificates representing not less than
66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to Certificates held by the
Depositor, any of the Depositor’s Affiliates and/or agents or the Trust Loan Sellers) and the Companion Loan Holders affected
thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust
and Servicing Agreement or modifying in any manner the rights of the Certificateholders; provided, however, that
no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Whole Loan
which are required to be distributed on any Certificate, without the consent of the Holders of Certificates representing all of
the Percentage Interests of the Class or Classes affected thereby or 

 

    	A-2-8 

     

    

 

which are required to be distributed to any Companion Loan
Holder without the consent of such Companion Loan Holder;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Trust and Servicing Agreement without the consent of the Holders of
Certificates representing all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected
Companion Loan Holder;

 

		(iii)	alter the Servicing Standard or obligations of the Master Servicer or the Trustee to make a P&I
Advance, Administrative Advance or a Property Advance, without the consent of the Holders of Certificates representing all of the
Percentage Interests of the Class or Classes affected thereby and the consent of any affected Companion Loan Holder; or

 

		(iv)	amend any section of the Trust and Servicing Agreement which relates to the amendment of the Trust
and Servicing Agreement without the consent of the Holders of all Certificates representing all of the Percentage Interests of
the Class or Classes affected thereby and the consent of any affected Companion Loan Holder.

 

Further, the Depositor, the
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee, at any time and from time to time, without
the consent of the Certificateholders, may amend the Trust and Servicing Agreement to modify, eliminate or add to any of its provisions
to such extent as shall be necessary: (i) to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or the Companion Loan Holders or (ii) to comply with the Investment
Company Act of 1940, as amended, and/or any related regulatory actions and/or interpretations.

 

The Directing Holder and
if the Directing Holder does not exercise such option, then the Special Servicer and if the Special Servicer does not exercise
such option, then the Master Servicer, and if the Master Servicer does not exercise its option, a Holder of a majority of the Percentage
Interest in the Class R and Class LR Certificates, may effect an early termination of the Trust Fund (provided that such
party has provided 15 Business Days’ prior notice to each of the parties with such option and none of the parties with a
higher priority has elected to exercise such option within such 15 Business Day period), upon not less than 30 days’ prior
Notice of Termination (which Notice of Termination shall satisfy the notice requirement of the proviso) given to the Trustee, the
Certificate Administrator, the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date
specifying the Anticipated Final Termination Date, by purchasing on such date all, but not less than all, of the Trust Loan then
included in the Trust Fund, and all, but not less than all, of the Trust’s interest in all property acquired in respect of
the Trust Loan, at a purchase price, payable in cash, equal to the greater of,

 

    	A-2-9 

     

    

 

		(i)	the sum of, without duplication:

 

		(A)	the outstanding principal balance of the Trust Loan as of the last day of the month preceding such
Anticipated Final Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Final Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of the Trust Loan (including if title to the
Mortgaged Property has been acquired) at the Trust Loan Rate to the last day of the Certificate Interest Accrual Period preceding
such Anticipated Final Termination Date (less any P&I Advances previously made on account of interest);

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Trustee/Certificate Administrator Fees, the CREFC® License
Fee and Trust Fund expenses and indemnity amounts owed by the Trust: and

 

(ii)          the aggregate
fair market value of the Trust Loan, and all other property acquired in respect of the Trust Loan in the Trust Fund, on the last
day of the month preceding such Distribution Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date, together with one month’s
interest thereon at the Trust Loan Rate.

 

In addition, the Trust and
Servicing Agreement provides that the Sole Certificateholder shall have the right to exchange all of its Certificates (other than
the Class R and Class LR Certificates) for the Trust Loan and the REO Property, as applicable, as contemplated by clause (ii)
of Section 9.01(a) of the Trust and Servicing Agreement by giving written notice to all the parties to the Trust and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.

 

All costs and expenses incurred
by any and all parties to the Trust and Servicing Agreement or by the Trust Fund in connection with the purchase of the Trust Loan
and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Trust and Servicing Agreement shall be borne by
the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely conclusively
on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Trust and Servicing Agreement.

 

    	A-2-10 

     

    

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee
created by the Trust and Servicing Agreement with respect to the Certificates (other than the obligations of the Certificate Administrator
to make certain payments and to send certain notices to Certificateholders as set forth in the Trust and Servicing Agreement) shall
terminate upon payment (or provision for payment) to the Certificateholders of all amounts held by or on behalf of the Trustee,
the Certificate Administrator and the Master Servicer, as the case may be, required under the Trust and Servicing Agreement to
be so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Trust Loan and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Trust and Servicing Agreement; (ii) the exchange by the Sole Certificateholder
of its Certificates for the Trust Loan in accordance with Section 9.01(g) of the Trust and Servicing Agreement; and (iii) the
later of (a) the receipt or collection of the last payment due on the Trust Loan included in the Trust Fund, or (b) the
liquidation and disposition pursuant to the Trust and Servicing Agreement of the last asset held by the Trust Fund; provided,
however, that in no event shall the trust created by the Trust and Servicing Agreement continue beyond the expiration of
21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.

 

Unless the Certificate of
Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating Agent,
by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be valid
for any purpose.

 

This Certificate does not purport to summarize
the Trust and Servicing Agreement and reference is made to that agreement for information with respect to the interests, rights,
benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the parties thereto. 
This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust and Servicing Agreement, to
which Trust and Servicing Agreement, as amended from time to time, the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.  In the case of any conflict between terms specified in this Certificate and terms
specified in the Trust and Servicing Agreement, the terms of the Trust and Servicing Agreement shall govern.

 

    	A-2-11 

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class X-A Certificate to be duly executed.

	 	 	 	 	 
	Dated:	 	 	 	 
	 	 	 	 	 
	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Certificate Administrator
	 	 	 	 	 
	 	 	 	By:	 
	 	 	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class X-A
Certificates referred to in the Trust and Servicing Agreement.

	 	 	 	 	 
	Dated:	 	 	 	 
	 	 	 	 	 
	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Authenticating Agent
	 	 	 	 	 
	 	 	 	By:	 
	 	 	 	 	Authorized Signatory

 

    	A-2-12 

     

    

 

SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

 

The following exchanges of a part of this Global
Certificate have been made:

 

    	A-2-13 

     

    

 

EXHIBIT
A-3

 

FORM OF CLASS B [RULE 144A]1
[REG S]2
CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3 

 

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE
REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN
SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT TO A REGISTRATION
STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR THAT THE HOLDER REASONABLY
BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED INSTITUTIONAL BUYER”)
PURCHASING FOR ITS OWN ACCOUNT, OR A PERSON PURCHASING FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM THE HOLDER
HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (3) IN THE
CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTIONAL INVESTOR THAT IS AN “ACCREDITED INVESTOR,” AS SUCH TERM IS DEFINED
IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS” AS SUCH TERM IS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, OR (4) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTION THAT IS A NOT A

 

 

 

1
For Rule 144A Global Certificates only.

 

2
For Reg S Global Certificates only.

 

3
Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

    A-3-1

     

    

 

“U.S.
PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH, RULE 903 OR RULE
904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF
THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE, AND
EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO
COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO DELIVER
AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE TRUST AND SERVICING AGREEMENT IF SUCH TRANSFEREE
IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED INVESTOR,
AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A.

 

THIS CERTIFICATE SHOULD NOT BE PURCHASED BY
A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT OR
A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32)
OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS TO A MATERIAL EXTENT SIMILAR
TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE INVESTMENT FUND IN WHICH SUCH
PLANS ARE INVESTED, AN INSURANCE COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR
WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH
PLAN OR USING THE ASSETS OF ANY SUCH PLAN, UNLESS (A) THE TRANSFEREE HAS ACQUIRED AND IS HOLDING THIS CERTIFICATE IN RELIANCE ON
THE EXEMPTIONS GRANTED TO DEUTSCHE BANK SECURITIES INC. AS DEPARTMENT OF LABOR FINAL AUTHORIZATION NUMBER 97-03E AND TO J.P. MORGAN
SECURITIES LLC, AS PROHIBITED TRANSACTION EXEMPTION 2002-19, EACH AS AMENDED BY PROHIBITED TRANSACTION EXEMPTION 2013-08 AND IT
UNDERSTANDS THAT THERE ARE CERTAIN CONDITIONS TO THE AVAILABILITY OF THE EXEMPTIONS, INCLUDING THAT THIS CERTIFICATE MUST BE RATED,
AT THE TIME OF PURCHASE, NOT LOWER THAN “BBB-” (OR ITS EQUIVALENT) BY A RATING AGENCY SET FORTH THEREIN AND THAT THIS
CERTIFICATE IS SO RATED AND IT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES
AND EXCHANGE COMMISSION UNDER THE SECURITIES

 

    A-3-2

     

    

 

ACT OF 1933, OR (B) (1) IT IS AN INSURANCE COMPANY, (2) THE SOURCE OF FUNDS USED TO
ACQUIRE OR HOLD THIS CERTIFICATE OR INTEREST THEREIN IS AN “INSURANCE COMPANY GENERAL ACCOUNT,” AS SUCH TERM IS DEFINED
IN PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND (3) THE CONDITIONS IN SECTIONS I AND III OF PTCE 95-60
HAVE BEEN SATISFIED OR (C) IN THE CASE OF A TRANSFEREE WHICH IS SUBJECT TO SIMILAR LAW, ITS ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE WILL NOT RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER OF
THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER, THE SPECIAL SERVICER AND THE DEPOSITOR AGAINST ANY LIABILITY THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT
FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING TRUST LOAN ARE INSURED OR GUARANTEED
BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE PAYABLE
IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS
THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

TRANSFERS AND EXCHANGES OF PORTIONS OF THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE
OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO HEREIN. 

 

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS
CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS
ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. 

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT
BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE

 

    A-3-3

     

    

 

OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]1

 

 

 

1
For Reg S Global Certificates only.

 

    A-3-4

     

    

 

DBJPM 2016-SFC MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS B

 

	Class B Pass-Through Rate:  3.2370%	 	
        CUSIP:  23312R AE51

                        U2402A AC82

         

        ISIN:      US23312RAE533

                        USU2402AAC814

         

	Original Aggregate Certificate Balance of the

Class B Certificates: $35,000,000	 	Initial Certificate Balance of this Certificate: $[_____] (SUBJECT TO SCHEDULES OF EXCHANGES ATTACHED)
	First Distribution Date: September 12, 2016	 	Cut-off Date: August 1, 2016
	Assumed Final Distribution Date:  August 2026	 	No.: B-[__]

 

This certifies that [              ]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class B Certificates. The Trust Fund, described more fully below, consists primarily of a Trust Loan secured by a partial
interest in a first lien mortgage on the fee simple interest in a super regional mall and office property and held in trust by
the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Trust Loan is to be serviced, pursuant to
the Trust and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.

 

The Trust and Servicing Agreement,
dated as of August 1, 2016 (the “Trust and Servicing Agreement”), between Deutsche Mortgage & Asset Receiving
Corporation, as depositor (the “Depositor”), Wells Fargo Bank, National Association, as master servicer (the
“Master Servicer”), Pacific Life Insurance Company, as special servicer (the “Special Servicer”),
Wilmington Trust, National Association, as trustee (the “Trustee”), and Deutsche Bank Trust Company Americas,
as certificate administrator (in such capacity, the “Certificate Administrator”), custodian and paying agent,
evidences the issuance of the Class A, Class X-A, Class B, Class C, Class D, Class R and Class LR Certificates (the “Certificates”;
the Holders of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Trust and Servicing Agreement. To the extent not
defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Trust and Servicing Agreement.

 

 

 

1
For Rule 144A Certificates.

 

2
For Regulation S Certificates.

 

3
For Rule 144A Certificates.

 

4
For Regulation S Certificates.

 

    A-3-5

     

    

 

This Certificate represents a
“regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of the Trust and
Servicing Agreement, such provision of this Certificate shall be superseded by the Trust and Servicing Agreement to the extent
of such inconsistency.

 

Pursuant to the terms of the
Trust and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator, will
distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date (each
such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the Percentage
Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class B Certificates for such Distribution Date, all as more fully described in the Trust and Servicing
Agreement. “Determination Date” is defined in the Trust and Servicing Agreement as the 6th day of each calendar month,
or if such 6th day is not a Business Day, then the immediately succeeding Business Day, commencing in September 2016. Holders of
this Certificate may be entitled to Prepayment Charges as provided in the Trust and Servicing Agreement.

 

During each Certificate Interest
Accrual Period (as defined below), interest on the Class B Certificates will be calculated based on a 360-day year consisting of
twelve 30-day months, on the outstanding Certificate Balance hereof.

 

Interest accrued on this Certificate
during a Certificate Interest Accrual Period, plus the aggregate unpaid Class Interest Shortfall with respect to this Certificate,
if any, will be payable on the related Distribution Date to the extent provided in the Trust and Servicing Agreement. The “Certificate
Interest Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month
in which such Distribution Date occurs. The Certificate Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month immediately preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor, provided that such Holder shall have provided the Paying Agent with wire instructions in writing at least five
Business Days prior to the related

 

    A-3-6

     

    

 

Record
Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final
distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at
the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as
such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed on
the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Trust and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Trust and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest
shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with the Trust and Servicing Agreement. Such funds held by
the Certificate Administrator may be invested under certain circumstances, and all income and gain realized from investment of
such funds shall accrue for its benefit.

 

This Certificate is limited in
right of payment to, among other things, certain collections and recoveries in respect of the Trust Loan, as more specifically
set forth herein and in the Trust and Servicing Agreement.

 

As provided in the Trust and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein) (i) the
Trust Loan, together with the Mortgage File relating thereto; (ii) all scheduled or unscheduled payments on or collections
in respect of the Trust Loan due after the Cut-off Date; (iii) the REO Property; (iv) all revenues received in respect
of the REO Property; (v) any indemnities or guaranties given as additional security for the Trust Loan; (vi) a security
interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve Accounts; (vii) amounts
on deposit in the Collection Account attributable to the Trust Loan as identified on the Trust Ledger, the Distribution Accounts,
the Interest Reserve Account or any REO Account, including any reinvestment income, as applicable; (viii) a security interest
in any environmental indemnity agreements relating to the Mortgaged Property; (ix) a security interest in all insurance policies
with respect to the Trust Loan and the Mortgaged Property; (x) the rights and remedies under the

 

    A-3-7

     

    

 

Trust
Loan Purchase Agreements relating to document delivery requirements with respect to the Trust Loan and the representations and
warranties of the Trust Loan Sellers regarding the Trust Loan; (xi)  the Lower-Tier Regular Interests; and (xii) the
proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the Borrower). As provided in the Trust and Servicing
Agreement, withdrawals may be made from certain of the above-accounts for purposes other than distributions to Certificateholders.

 

This Certificate does not purport
to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the interests, rights,
benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of the Certificate
Administrator.

 

As provided in the Trust and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Trust and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Trust and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Trust and Servicing Agreement.

 

Prior to due presentation of
this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate
is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice
or knowledge to the contrary.

 

No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Trust and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided in
Section 5.02(h) of the Trust and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Trust and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar
may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection
with any such transfer.

 

The Trust and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate

 

    A-3-8

     

    

 

Administrator
and the Trustee without the consent of any of the Certificateholders, (i) to cure any ambiguity or to correct any error;
(ii) to cause the provisions of the Trust and Servicing Agreement to conform or be consistent with or in furtherance of the
statements made in the Offering Circular with respect to the Certificates, the Trust or the Trust and Servicing Agreement or to
correct or supplement any provisions of the Trust and Servicing Agreement or herein which may be defective or inconsistent with
any other provisions of the Trust and Servicing Agreement or herein; (iii) to amend any provision of the Trust and Servicing
Agreement to the extent necessary or desirable to maintain the rating or ratings assigned to each of the Classes of Certificates
or Companion Loan Securities by each Rating Agency (provided that such amendment does not adversely affect in any material
respect (x) the interests of any Certificateholder or Companion Loan Holder not consenting thereto or (y) the rights or interests
of the Directing Holder without the consent of the Holders of Certificates representing all of the Percentage Interests of the
Controlling Class); (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Trust and Servicing Agreement, or any other change that will not adversely affect in any material
respect the interests of any Certificateholder or Companion Loan Holder not consenting thereto (as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or a Companion Loan Holder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates or the Companion Loan Securities, if applicable);
and (v) to modify the procedures in the Trust and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange
Act; provided that such modification does not materially increase the obligations of the Depositor, the Trustee, the Paying
Agent, the Certificate Administrator, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
parties’ consent; and provided, further, that such amendment shall not adversely affect in any material respects
the interests of any Certificateholders or Companion Loan Holders not consenting thereto, as evidenced by in the case of clauses
(iii) through (v) above by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt
of a No Downgrade Confirmation from each Rating Agency and a No Downgrade Confirmation with respect to any Companion Loan Securities.
In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or subject
either REMIC to tax.

 

The Trust and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator and the Trustee with the prior written consent of the Holders of Certificates representing not less than
66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to Certificates held by the
Depositor, any of the Depositor’s Affiliates and/or agents or the Trust Loan Sellers) and the Companion Loan Holders affected
thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust
and Servicing Agreement or modifying in any manner the rights of the Certificateholders; provided, however, that
no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Whole Loan
which are required to be distributed on any Certificate, without the consent of the Holders of Certificates representing all of
the Percentage Interests of the Class or Classes affected thereby or 

 

    A-3-9

     

    

 

	 	 	which are required to be distributed to any Companion Loan
Holder without the consent of such Companion Loan Holder;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Trust and Servicing Agreement without the consent of the Holders of
Certificates representing all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected
Companion Loan Holder;

 

		(iii)	alter the Servicing Standard or obligations of the Master Servicer or the Trustee to make a P&I
Advance, Administrative Advance or a Property Advance, without the consent of the Holders of Certificates representing all of the
Percentage Interests of the Class or Classes affected thereby and the consent of any affected Companion Loan Holder; or

 

		(iv)	amend any section of the Trust and Servicing Agreement which relates to the amendment of the Trust
and Servicing Agreement without the consent of the Holders of all Certificates representing all of the Percentage Interests of
the Class or Classes affected thereby and the consent of any affected Companion Loan Holder.

 

Further, the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator and the Trustee, at any time and from time to time, without the consent
of the Certificateholders, may amend the Trust and Servicing Agreement to modify, eliminate or add to any of its provisions to
such extent as shall be necessary: (i) to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or the Companion Loan Holders or (ii) to comply with the Investment
Company Act of 1940, as amended, and/or any related regulatory actions and/or interpretations.

 

The Directing Holder and if the
Directing Holder does not exercise such option, then the Special Servicer and if the Special Servicer does not exercise such option,
then the Master Servicer, and if the Master Servicer does not exercise its option, a Holder of a majority of the Percentage Interest
in the Class R and Class LR Certificates, may effect an early termination of the Trust Fund (provided that such party
has provided 15 Business Days’ prior notice to each of the parties with such option and none of the parties with a higher
priority has elected to exercise such option within such 15 Business Day period), upon not less than 30 days’ prior Notice
of Termination (which Notice of Termination shall satisfy the notice requirement of the proviso) given to the Trustee, the Certificate
Administrator, the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date specifying the
Anticipated Final Termination Date, by purchasing on such date all, but not less than all, of the Trust Loan then included in the
Trust Fund, and all, but not less than all, of the Trust’s interest in all property acquired in respect of the Trust Loan,
at a purchase price, payable in cash, equal to the greater of,

 

    A-3-10

     

    

 

(i)            the sum of, without duplication:

 

		(A)	the outstanding principal balance of the Trust Loan as of the last day of the month preceding such
Anticipated Final Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Final Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of the Trust Loan (including if title to the
Mortgaged Property has been acquired) at the Trust Loan Rate to the last day of the Certificate Interest Accrual Period preceding
such Anticipated Final Termination Date (less any P&I Advances previously made on account of interest);

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Trustee/Certificate Administrator Fees, the CREFC® License
Fee and Trust Fund expenses and indemnity amounts owed by the Trust: and

 

(ii)            the aggregate
fair market value of the Trust Loan, and all other property acquired in respect of the Trust Loan in the Trust Fund, on the last
day of the month preceding such Distribution Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date, together with one month’s
interest thereon at the Trust Loan Rate.

 

In addition, the Trust and Servicing
Agreement provides that the Sole Certificateholder shall have the right to exchange all of its Certificates (other than the Class
R and Class LR Certificates) for the Trust Loan and the REO Property, as applicable, as contemplated by clause (ii) of Section
9.01(a) of the Trust and Servicing Agreement by giving written notice to all the parties to the Trust and Servicing Agreement no
later than 60 days prior to the anticipated date of exchange.

 

All costs and expenses incurred
by any and all parties to the Trust and Servicing Agreement or by the Trust Fund in connection with the purchase of the Trust Loan
and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Trust and Servicing Agreement shall be borne by
the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely conclusively
on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Trust and Servicing Agreement.

 

    A-3-11

     

    

 

The respective obligations and
responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee created
by the Trust and Servicing Agreement with respect to the Certificates (other than the obligations of the Certificate Administrator
to make certain payments and to send certain notices to Certificateholders as set forth in the Trust and Servicing Agreement) shall
terminate upon payment (or provision for payment) to the Certificateholders of all amounts held by or on behalf of the Trustee,
the Certificate Administrator and the Master Servicer, as the case may be, required under the Trust and Servicing Agreement to
be so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Trust Loan and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Trust and Servicing Agreement; (ii) the exchange by the Sole Certificateholder
of its Certificates for the Trust Loan in accordance with Section 9.01(g) of the Trust and Servicing Agreement; and (iii) the
later of (a) the receipt or collection of the last payment due on the Trust Loan included in the Trust Fund, or (b) the
liquidation and disposition pursuant to the Trust and Servicing Agreement of the last asset held by the Trust Fund; provided,
however, that in no event shall the trust created by the Trust and Servicing Agreement continue beyond the expiration of
21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States
to the United Kingdom, living on the date hereof.

 

Unless the Certificate of Authentication
on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating Agent, by manual
signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be valid for any purpose.

 

This Certificate does not purport to summarize the
Trust and Servicing Agreement and reference is made to that agreement for information with respect to the interests, rights, benefits,
obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the parties thereto.  This Certificate
is issued under and is subject to the terms, provisions and conditions of the Trust and Servicing Agreement, to which Trust and
Servicing Agreement, as amended from time to time, the Holder of this Certificate by virtue of the acceptance hereof assents and
by which such Holder is bound.  In the case of any conflict between terms specified in this Certificate and terms specified
in the Trust and Servicing Agreement, the terms of the Trust and Servicing Agreement shall govern.

 

    A-3-12

     

    

 

IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class B Certificate to be duly executed.

 

Dated: ____________

	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Certificate Administrator
	 	 
	 	By:	
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class B
Certificates referred to in the Trust and Servicing Agreement.

 

Dated: ____________ 

	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Authenticating Agent

                     

	 	By:	
	 	 	Authorized Signatory

 

    A-3-13

     

    

 

SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES 

 

The following exchanges of a part of this Global
Certificate have been made:

 

    A-3-14

     

    

 

EXHIBIT A-4

 

FORM OF CLASS C [RULE 144A]1
[REG S]2
CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR THAT
THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”) PURCHASING FOR ITS OWN ACCOUNT, OR A PERSON PURCHASING FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL
BUYER, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE
ON RULE 144A, (3) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTIONAL INVESTOR THAT IS AN “ACCREDITED INVESTOR,”
AS SUCH TERM IS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL
OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS” AS SUCH TERM IS DEFINED IN RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTION THAT
IS A NOT A “U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE

 

 

 

1  For Rule 144A Global Certificates only.

 

2  For Reg S Global Certificates only.

 

3  Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

     A-4-1

     

    

 

DEFINED IN, AND IN ACCORDANCE
WITH, RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO DELIVER
AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE TRUST AND SERVICING AGREEMENT IF SUCH TRANSFEREE
IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED INVESTOR,
AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A.

 

THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION
3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS TO A MATERIAL EXTENT
SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE INVESTMENT FUND IN WHICH
SUCH PLANS ARE INVESTED, AN INSURANCE COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS
(OR WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH
PLAN OR USING THE ASSETS OF ANY SUCH PLAN, UNLESS (A) THE TRANSFEREE HAS ACQUIRED AND IS HOLDING THIS CERTIFICATE IN RELIANCE ON
THE EXEMPTIONS GRANTED TO DEUTSCHE BANK SECURITIES INC. AS DEPARTMENT OF LABOR FINAL AUTHORIZATION NUMBER 97-03E AND TO J.P. MORGAN
SECURITIES LLC, AS PROHIBITED TRANSACTION EXEMPTION 2002-19, EACH AS AMENDED BY PROHIBITED TRANSACTION EXEMPTION 2013-08 AND IT
UNDERSTANDS THAT THERE ARE CERTAIN CONDITIONS TO THE AVAILABILITY OF THE EXEMPTIONS, INCLUDING THAT THIS CERTIFICATE MUST BE RATED,
AT THE TIME OF PURCHASE, NOT LOWER THAN “BBB-” (OR ITS EQUIVALENT) BY A RATING AGENCY SET FORTH THEREIN AND THAT THIS
CERTIFICATE IS SO RATED AND IT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES
AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, OR (B) (1) IT IS AN INSURANCE COMPANY, (2) THE SOURCE OF

 

     A-4-2

     

    

 

FUNDS USED TO
ACQUIRE OR HOLD THIS CERTIFICATE OR INTEREST THEREIN IS AN “INSURANCE COMPANY GENERAL ACCOUNT,” AS SUCH TERM IS DEFINED
IN PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND (3) THE CONDITIONS IN SECTIONS I AND III OF PTCE 95-60
HAVE BEEN SATISFIED OR (C) IN THE CASE OF A TRANSFEREE WHICH IS SUBJECT TO SIMILAR LAW, ITS ACQUISITION, HOLDING AND DISPOSITION
OF THIS CERTIFICATE WILL NOT RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER, THE SPECIAL SERVICER AND THE DEPOSITOR AGAINST ANY LIABILITY THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT
FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING TRUST LOAN ARE INSURED OR GUARANTEED
BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

THIS CERTIFICATE IS SUBORDINATE TO ONE
OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED

 

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STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]1

 

 

 

1
For Reg S Global Certificates only.

 

     A-4-4

     

    

 

DBJPM 2016-SFC MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS C

 

	Class C Pass-Through Rate: The Net Mortgage Rate	 	
        CUSIP: 23312R AG01

                      U2402A AD62

         

        ISIN:     US23312RAG023

                      USU2402AAD644

         

	Original Aggregate Certificate Balance of the Class
    C Certificates: $59,629,000	 	Initial Certificate Balance of this Certificate: $[_____] (SUBJECT TO SCHEDULES OF EXCHANGES ATTACHED)
	First Distribution Date: September 12, 2016	 	Cut-off Date: August 1, 2016
	Assumed Final Distribution Date: August 2026	 	No.: C-[__]

 

This certifies that [
               ] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class C Certificates. The Trust Fund, described more fully below, consists primarily of a Trust Loan secured by a partial
interest in a first lien mortgage on the fee simple interest in a super regional mall and office property and held in trust by
the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Trust Loan is to be serviced, pursuant to
the Trust and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.

 

The Trust and Servicing
Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”), between Deutsche Mortgage &
Asset Receiving Corporation, as depositor (the “Depositor”), Wells Fargo Bank, National Association, as master
servicer (the “Master Servicer”), Pacific Life Insurance Company, as special servicer (the “Special
Servicer”), Wilmington Trust, National Association, as trustee (the “Trustee”), and Deutsche Bank
Trust Company Americas, as certificate administrator (in such capacity, the “Certificate Administrator”), custodian
and paying agent, evidences the issuance of the Class A, Class X-A, Class B, Class C, Class D, Class R and Class LR Certificates
(the “Certificates”; the Holders of Certificates issued under the Trust and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Trust and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Trust and Servicing Agreement.

 

 

 

1  For Rule 144A Certificates.

 

2  For Regulation S Certificates.

 

3  For Rule 144A Certificates.

 

4  For Regulation S Certificates.

 

     A-4-5

     

    

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of the Trust and
Servicing Agreement, such provision of this Certificate shall be superseded by the Trust and Servicing Agreement to the extent
of such inconsistency.

 

Pursuant to the terms
of the Trust and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class C Certificates for such Distribution Date, all as more fully described in the Trust and Servicing
Agreement. “Determination Date” is defined in the Trust and Servicing Agreement as the 6th day of each calendar month,
or if such 6th day is not a Business Day, then the immediately succeeding Business Day, commencing in September 2016. Holders of
this Certificate may be entitled to Prepayment Charges as provided in the Trust and Servicing Agreement.

 

During each Certificate
Interest Accrual Period (as defined below), interest on the Class C Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months, on the outstanding Certificate Balance hereof.

 

Interest accrued on this
Certificate during a Certificate Interest Accrual Period, plus the aggregate unpaid Class Interest Shortfall with respect to this
Certificate, if any, will be payable on the related Distribution Date to the extent provided in the Trust and Servicing Agreement.
The “Certificate Interest Accrual Period” means, with respect to any Distribution Date, the calendar month immediately
preceding the month in which such Distribution Date occurs. The Certificate Interest Accrual Period is assumed to consist of 30
days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month immediately preceding the month in which such Distribution Date occurs. Such distributions shall be made on each
Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer
of immediately available funds to the account of such Holder at a bank or other entity located in the United States and having
appropriate facilities therefor, provided that such Holder shall have provided the Paying Agent with wire instructions in
writing at least five Business Days prior to the related

 

     A-4-6

     

    

 

Record Date, or, otherwise, by check mailed by first-class mail to the
address set forth therefor in the Certificate Register. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent (which
may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such final
distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Trust and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Trust and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Trust and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Trust Loan, as more specifically
set forth herein and in the Trust and Servicing Agreement.

 

As provided in the Trust
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein) (i) the
Trust Loan, together with the Mortgage File relating thereto; (ii) all scheduled or unscheduled payments on or collections in respect
of the Trust Loan due after the Cut-off Date; (iii) the REO Property; (iv) all revenues received in respect of the REO Property;
(v) any indemnities or guaranties given as additional security for the Trust Loan; (vi) a security interest in all assets deposited
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve Accounts; (vii) amounts on deposit in the Collection
Account attributable to the Trust Loan as identified on the Trust Ledger, the Distribution Accounts, the Interest Reserve Account
or any REO Account, including any reinvestment income, as applicable; (viii) a security interest in any environmental indemnity
agreements relating to the Mortgaged Property; (ix) a security interest in all insurance policies with respect to the Trust Loan
and the Mortgaged Property; (x) the rights and remedies under the

 

     A-4-7

     

    

 

Trust Loan Purchase Agreements relating to document delivery
requirements with respect to the Trust Loan and the representations and warranties of the Trust Loan Sellers regarding the Trust
Loan; (xi) the Lower-Tier Regular Interests; and (xii) the proceeds of the foregoing (other than any interest earned on deposits
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest belongs
to the Borrower). As provided in the Trust and Servicing Agreement, withdrawals may be made from certain of the above-accounts
for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Trust and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Trust and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Trust and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate
is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice
or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Trust and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Trust and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Trust and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar
may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection
with any such transfer.

 

The Trust and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate

 

     A-4-8

     

    

 

Administrator and the Trustee without the consent of any of the Certificateholders, (i) to cure any ambiguity or to
correct any error; (ii) to cause the provisions of the Trust and Servicing Agreement to conform or be consistent with or in furtherance
of the statements made in the Offering Circular with respect to the Certificates, the Trust or the Trust and Servicing Agreement
or to correct or supplement any provisions of the Trust and Servicing Agreement or herein which may be defective or inconsistent
with any other provisions of the Trust and Servicing Agreement or herein; (iii) to amend any provision of the Trust and Servicing
Agreement to the extent necessary or desirable to maintain the rating or ratings assigned to each of the Classes of Certificates
or Companion Loan Securities by each Rating Agency (provided that such amendment does not adversely affect in any material
respect (x) the interests of any Certificateholder or Companion Loan Holder not consenting thereto or (y) the rights or interests
of the Directing Holder without the consent of the Holders of Certificates representing all of the Percentage Interests of the
Controlling Class); (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Trust and Servicing Agreement, or any other change that will not adversely affect in any material respect
the interests of any Certificateholder or Companion Loan Holder not consenting thereto (as evidenced in writing by an Opinion of
Counsel or, if solely affecting any Certificateholder of a rated Class or a Companion Loan Holder, in respect of which a No Downgrade
Confirmation has been obtained relating to the Certificates or the Companion Loan Securities, if applicable); and (v) to modify
the procedures in the Trust and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such modification does not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such parties’ consent;
and provided, further, that such amendment shall not adversely affect in any material respects the interests of any
Certificateholders or Companion Loan Holders not consenting thereto, as evidenced by in the case of clauses (iii) through (v) above
by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation
from each Rating Agency and a No Downgrade Confirmation with respect to any Companion Loan Securities. In no event shall any such
amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or subject either REMIC to tax.

 

The Trust and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator and the Trustee with the prior written consent of the Holders of Certificates representing not less
than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to Certificates held by
the Depositor, any of the Depositor’s Affiliates and/or agents or the Trust Loan Sellers) and the Companion Loan Holders
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Trust and Servicing Agreement or modifying in any manner the rights of the Certificateholders; provided, however,
that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Whole Loan
which are required to be distributed on any Certificate, without the consent of the Holders of Certificates representing all of
the Percentage Interests of the Class or Classes affected thereby or 

 

     A-4-9

     

    

 

	 	 	which are required to be distributed to any Companion Loan
Holder without the consent of such Companion Loan Holder;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Trust and Servicing Agreement without the consent of the Holders of
Certificates representing all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected
Companion Loan Holder;

 

		(iii)	alter the Servicing Standard or obligations of the Master Servicer or the Trustee to make a P&I
Advance, Administrative Advance or a Property Advance, without the consent of the Holders of Certificates representing all of the
Percentage Interests of the Class or Classes affected thereby and the consent of any affected Companion Loan Holder; or

 

		(iv)	amend any section of the Trust and Servicing Agreement which relates to the amendment of the Trust
and Servicing Agreement without the consent of the Holders of all Certificates representing all of the Percentage Interests of
the Class or Classes affected thereby and the consent of any affected Companion Loan Holder.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee, at any time and from time to time, without
the consent of the Certificateholders, may amend the Trust and Servicing Agreement to modify, eliminate or add to any of its provisions
to such extent as shall be necessary: (i) to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or the Companion Loan Holders or (ii) to comply with the Investment
Company Act of 1940, as amended, and/or any related regulatory actions and/or interpretations.

 

The Directing Holder
and if the Directing Holder does not exercise such option, then the Special Servicer and if the Special Servicer does not exercise
such option, then the Master Servicer, and if the Master Servicer does not exercise its option, a Holder of a majority of the Percentage
Interest in the Class R and Class LR Certificates, may effect an early termination of the Trust Fund (provided that such party
has provided 15 Business Days’ prior notice to each of the parties with such option and none of the parties with a higher
priority has elected to exercise such option within such 15 Business Day period), upon not less than 30 days’ prior Notice
of Termination (which Notice of Termination shall satisfy the notice requirement of the proviso) given to the Trustee, the Certificate
Administrator, the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date specifying the
Anticipated Final Termination Date, by purchasing on such date all, but not less than all, of the Trust Loan then included in the
Trust Fund, and all, but not less than all, of the Trust’s interest in all property acquired in respect of the Trust Loan,
at a purchase price, payable in cash, equal to the greater of,

 

     A-4-10

     

    

 

(i)           the sum of, without
duplication:

 

		(A)	the outstanding principal balance of the Trust Loan as of the last day of the month preceding such
Anticipated Final Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Final Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of the Trust Loan (including if title to the
Mortgaged Property has been acquired) at the Trust Loan Rate to the last day of the Certificate Interest Accrual Period preceding
such Anticipated Final Termination Date (less any P&I Advances previously made on account of interest);

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Trustee/Certificate Administrator Fees, the CREFC® License
Fee and Trust Fund expenses and indemnity amounts owed by the Trust: and

 

(ii)          the
aggregate fair market value of the Trust Loan, and all other property acquired in respect of the Trust Loan in the Trust Fund,
on the last day of the month preceding such Distribution Date, as determined by an Independent appraiser acceptable to the Master
Servicer as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date, together with
one month’s interest thereon at the Trust Loan Rate.

 

In addition, the Trust
and Servicing Agreement provides that the Sole Certificateholder shall have the right to exchange all of its Certificates (other
than the Class R and Class LR Certificates) for the Trust Loan and the REO Property, as applicable, as contemplated by clause (ii)
of Section 9.01(a) of the Trust and Servicing Agreement by giving written notice to all the parties to the Trust and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Trust and Servicing Agreement or by the Trust Fund in connection with the purchase of the
Trust Loan and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Trust and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Trust and Servicing Agreement.

 

     A-4-11

     

    

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee
created by the Trust and Servicing Agreement with respect to the Certificates (other than the obligations of the Certificate Administrator
to make certain payments and to send certain notices to Certificateholders as set forth in the Trust and Servicing Agreement) shall
terminate upon payment (or provision for payment) to the Certificateholders of all amounts held by or on behalf of the Trustee,
the Certificate Administrator and the Master Servicer, as the case may be, required under the Trust and Servicing Agreement to
be so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Trust Loan and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Trust and Servicing Agreement; (ii) the exchange by the Sole Certificateholder
of its Certificates for the Trust Loan in accordance with Section 9.01(g) of the Trust and Servicing Agreement; and (iii) the later
of (a) the receipt or collection of the last payment due on the Trust Loan included in the Trust Fund, or (b) the liquidation and
disposition pursuant to the Trust and Servicing Agreement of the last asset held by the Trust Fund; provided, however,
that in no event shall the trust created by the Trust and Servicing Agreement continue beyond the expiration of 21 years from the
death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom,
living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

This Certificate does not purport to summarize
the Trust and Servicing Agreement and reference is made to that agreement for information with respect to the interests, rights,
benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the parties thereto. This
Certificate is issued under and is subject to the terms, provisions and conditions of the Trust and Servicing Agreement, to which
Trust and Servicing Agreement, as amended from time to time, the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound. In the case of any conflict between terms specified in this Certificate and terms specified
in the Trust and Servicing Agreement, the terms of the Trust and Servicing Agreement shall govern.

 

     A-4-12

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class C Certificate to be duly executed.

 

	Dated:	 	 	 	 
	 	 	 	 	 
	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Certificate Administrator
	 	 	 	 	 
	 	 	 	By:	
	 	 	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
C Certificates referred to in the Trust and Servicing Agreement.

 

	Dated:	 	 	 	 
	 	 	 	 	 
	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Authenticating Agent
	 	 	 	 	 
	 	 	 	By:	
	 	 	 	 	Authorized Signatory

 

     A-4-13

     

    

 

SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

 

The following exchanges of a part of this
Global Certificate have been made:

 

     A-4-14

     

    

 

EXHIBIT A-5

FORM OF CLASS D [RULE 144A]1
[REG S]2
CERTIFICATE

[UNLESS THIS CERTIFICATE IS PRESENTED BY
AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE REGISTRAR
FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3

 

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT
TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR THAT THE HOLDER REASONABLY BELIEVES
IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED INSTITUTIONAL BUYER”)
PURCHASING FOR ITS OWN ACCOUNT, OR A PERSON PURCHASING FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM THE HOLDER
HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (3) IN THE
CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTIONAL INVESTOR THAT IS AN “ACCREDITED INVESTOR,” AS SUCH TERM IS DEFINED
IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS” AS SUCH TERM IS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, OR (4) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTION THAT IS A NOT A “U.S.
PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE

 

 

1
For Rule 144A Global Certificates only.

2
For Reg S Global Certificates only.

3
Legend required as long as DTC is the Depository under the Trust and Servicing Agreement.

 

    	 	 A-5-1	 

     

    

 

DEFINED IN, AND IN ACCORDANCE WITH, RULE 903 OR RULE
904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF
THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE, AND EACH
SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO COMPLY
WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO DELIVER AN
INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE TRUST AND SERVICING AGREEMENT IF SUCH TRANSFEREE
IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED INVESTOR,
AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A.

 

THIS CERTIFICATE SHOULD NOT BE PURCHASED BY A TRANSFEREE
THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT OR A KEOGH PLAN,
WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION 4975 OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA,
OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS TO A MATERIAL EXTENT SIMILAR TO THE
FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE INVESTMENT FUND IN WHICH SUCH PLANS
ARE INVESTED, AN INSURANCE COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR WHICH
ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR
USING THE ASSETS OF ANY SUCH PLAN, UNLESS (A) THE TRANSFEREE HAS ACQUIRED AND IS HOLDING THIS CERTIFICATE IN RELIANCE ON THE EXEMPTIONS
GRANTED TO DEUTSCHE BANK SECURITIES INC. AS DEPARTMENT OF LABOR FINAL AUTHORIZATION NUMBER 97-03E AND TO J.P. MORGAN SECURITIES
LLC, AS PROHIBITED TRANSACTION EXEMPTION 2002-19, EACH AS AMENDED BY PROHIBITED TRANSACTION EXEMPTION 2013-08 AND IT UNDERSTANDS
THAT THERE ARE CERTAIN CONDITIONS TO THE AVAILABILITY OF THE EXEMPTIONS, INCLUDING THAT THIS CERTIFICATE MUST BE RATED, AT THE
TIME OF PURCHASE, NOT LOWER THAN “BBB-” (OR ITS EQUIVALENT) BY A RATING AGENCY SET FORTH THEREIN AND THAT THIS CERTIFICATE
IS SO RATED AND IT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a)(1) OF REGULATION D OF THE SECURITIES AND EXCHANGE
COMMISSION UNDER THE SECURITIES ACT OF 1933, OR (B) (1) IT IS AN INSURANCE COMPANY, (2) THE SOURCE OF

 

    	 	 A-5-2	 

     

    

 

FUNDS USED TO ACQUIRE OR
HOLD THIS CERTIFICATE OR INTEREST THEREIN IS AN “INSURANCE COMPANY GENERAL ACCOUNT,” AS SUCH TERM IS DEFINED IN PROHIBITED
TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND (3) THE CONDITIONS IN SECTIONS I AND III OF PTCE 95-60 HAVE BEEN SATISFIED
OR (C) IN THE CASE OF A TRANSFEREE WHICH IS SUBJECT TO SIMILAR LAW, ITS ACQUISITION, HOLDING AND DISPOSITION OF THIS CERTIFICATE
WILL NOT RESULT IN A NON-EXEMPT VIOLATION OF SIMILAR LAW.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER OF THIS
CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE, THE
MASTER SERVICER, THE SPECIAL SERVICER AND THE DEPOSITOR AGAINST ANY LIABILITY THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING TRUST LOAN ARE INSURED OR GUARANTEED
BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

PRINCIPAL PAYMENTS ON THIS CERTIFICATE ARE
PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

TRANSFERS AND EXCHANGES OF PORTIONS OF THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

THIS CERTIFICATE IS SUBORDINATE TO ONE OR MORE OTHER
CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE TRUST AND SERVICING AGREEMENT REFERRED TO HEREIN.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE
OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED

 

    	 	 A-5-3	 

     

    

 

STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]1

  

 

1
For Reg S Global Certificates only.

 

    	 	 A-5-4	 

     

    

 

DBJPM 2016-SFC MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS D

	Class D Pass-Through Rate: The Net Mortgage Rate	 	
        CUSIP:23312R AJ41

                     U2402A AE42

        ISIN:    US23312RAJ413

                     USU2402AAE484

	 

                                                                                Original Aggregate Certificate Balance of the
 Class D Certificates: $62,313,000
	 	Initial Certificate Balance of this Certificate: $[_____] (SUBJECT TO SCHEDULES OF EXCHANGES ATTACHED)
	First Distribution Date: September 12, 2016	 	Cut-off Date: August 1, 2016
	Assumed Final Distribution Date: August 2026	 	No.: D-[__]

 

This certifies that [ ___________
] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class D Certificates. The Trust Fund, described more fully below, consists primarily of a Trust Loan secured by a partial
interest in a first lien mortgage on the fee simple interest in a super regional mall and office property and held in trust by
the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Trust Loan is to be serviced, pursuant to
the Trust and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.

 

The Trust and Servicing Agreement,
dated as of August 1, 2016 (the “Trust and Servicing Agreement”), between Deutsche Mortgage & Asset Receiving
Corporation, as depositor (the “Depositor”), Wells Fargo Bank, National Association, as master servicer (the
“Master Servicer”), Pacific Life Insurance Company, as special servicer (the “Special Servicer”),
Wilmington Trust, National Association, as trustee (the “Trustee”), and Deutsche Bank Trust Company Americas,
as certificate administrator (in such capacity, the “Certificate Administrator”), custodian and paying agent,
evidences the issuance of the Class A, Class X-A, Class B, Class C, Class D, Class R and Class LR Certificates (the “Certificates”;
the Holders of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Trust and Servicing Agreement. To the extent not
defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Trust and Servicing Agreement.

 

 

1
For Rule 144A Certificates.

2
For Regulation S Certificates.

3
For Rule 144A Certificates.

4
For Regulation S Certificates.

 

    	 	 A-5-5	 

     

    

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of the Trust and
Servicing Agreement, such provision of this Certificate shall be superseded by the Trust and Servicing Agreement to the extent
of such inconsistency.

 

Pursuant to the terms of the
Trust and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class D Certificates for such Distribution Date, all as more fully described in the Trust and Servicing
Agreement. “Determination Date” is defined in the Trust and Servicing Agreement as the 6th day of each calendar month,
or if such 6th day is not a Business Day, then the immediately succeeding Business Day, commencing in September 2016.
Holders of this Certificate may be entitled to Prepayment Charges as provided in the Trust and Servicing Agreement.

 

During each Certificate Interest
Accrual Period (as defined below), interest on the Class D Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months, on the outstanding Certificate Balance hereof.

 

Interest accrued on this Certificate
during a Certificate Interest Accrual Period, plus the aggregate unpaid Class Interest Shortfall with respect to this Certificate,
if any, will be payable on the related Distribution Date to the extent provided in the Trust and Servicing Agreement. The “Certificate
Interest Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month
in which such Distribution Date occurs. The Certificate Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month immediately preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor, provided that such Holder shall have provided the Paying Agent with wire instructions in writing at least five
Business Days prior to the related

 

    	 	 A-5-6	 

     

    

 

Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor
in the Certificate Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment
and surrender of such Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or
the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be
set aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which
notice of the Termination Date has been given pursuant to the Trust and Servicing Agreement shall not have been surrendered for
cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice
to the remaining non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their
Certificates for cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within
one year after the second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator
may, directly or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning
surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders
shall be paid out of such funds. If within two years after the second notice any such Certificates shall not have been surrendered
for cancellation, the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof,
and the Certificate Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i)
its termination as Certificate Administrator under the Trust and Servicing Agreement and the transfer of such amounts to a successor
certificate administrator and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders.
No interest shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s
failure to surrender its Certificate(s) for final payment thereof in accordance with the Trust and Servicing Agreement. Such funds
held by the Certificate Administrator may be invested under certain circumstances, and all income and gain realized from investment
of such funds shall accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Trust Loan, as more specifically
set forth herein and in the Trust and Servicing Agreement.

 

As provided in the Trust and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein) (i) the
Trust Loan, together with the Mortgage File relating thereto; (ii) all scheduled or unscheduled payments on or collections in
respect of the Trust Loan due after the Cut-off Date; (iii) the REO Property; (iv) all revenues received in respect of the REO
Property; (v) any indemnities or guaranties given as additional security for the Trust Loan; (vi) a security interest in all assets
deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve Accounts; (vii) amounts on deposit
in the Collection Account attributable to the Trust Loan as identified on the Trust Ledger, the Distribution Accounts, the Interest
Reserve Account or any REO Account, including any reinvestment income, as applicable; (viii) a security interest in any environmental
indemnity agreements relating to the Mortgaged Property; (ix) a security interest in all insurance policies with respect to the
Trust Loan and the Mortgaged Property; (x) the rights and remedies under the

 

    	 	 A-5-7	 

     

    

 

Trust Loan Purchase Agreements relating to document
delivery requirements with respect to the Trust Loan and the representations and warranties of the Trust Loan Sellers regarding
the Trust Loan; (xi) the Lower-Tier Regular Interests; and (xii) the proceeds of the foregoing (other than any interest earned
on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest
belongs to the Borrower). As provided in the Trust and Servicing Agreement, withdrawals may be made from certain of the above-accounts
for purposes other than distributions to Certificateholders.

 

This Certificate does not
purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Trust and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Trust and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Trust and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this
Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected
by notice or knowledge to the contrary.

 

No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Trust and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided in
Section 5.02(h) of the Trust and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Trust and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Trust and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate

 

    	 	 A-5-8	 

     

    

 

Administrator and the Trustee without the consent of any of the Certificateholders, (i) to cure any ambiguity or to correct any
error; (ii) to cause the provisions of the Trust and Servicing Agreement to conform or be consistent with or in furtherance of
the statements made in the Offering Circular with respect to the Certificates, the Trust or the Trust and Servicing Agreement
or to correct or supplement any provisions of the Trust and Servicing Agreement or herein which may be defective or inconsistent
with any other provisions of the Trust and Servicing Agreement or herein; (iii) to amend any provision of the Trust and Servicing
Agreement to the extent necessary or desirable to maintain the rating or ratings assigned to each of the Classes of Certificates
or Companion Loan Securities by each Rating Agency (provided that such amendment does not adversely affect in any material
respect (x) the interests of any Certificateholder or Companion Loan Holder not consenting thereto or (y) the rights or interests
of the Directing Holder without the consent of the Holders of Certificates representing all of the Percentage Interests of the
Controlling Class); (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Trust and Servicing Agreement, or any other change that will not adversely affect in any material respect
the interests of any Certificateholder or Companion Loan Holder not consenting thereto (as evidenced in writing by an Opinion
of Counsel or, if solely affecting any Certificateholder of a rated Class or a Companion Loan Holder, in respect of which a No
Downgrade Confirmation has been obtained relating to the Certificates or the Companion Loan Securities, if applicable); and (v)
to modify the procedures in the Trust and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such modification does not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such parties’ consent;
and provided, further, that such amendment shall not adversely affect in any material respects the interests of
any Certificateholders or Companion Loan Holders not consenting thereto, as evidenced by in the case of clauses (iii) through
(v) above by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade
Confirmation from each Rating Agency and a No Downgrade Confirmation with respect to any Companion Loan Securities. In no event
shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or subject either REMIC
to tax.

 

The Trust and Servicing Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee with the prior written consent of the Holders
of Certificates representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby
(without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents or the Trust Loan
Sellers) and the Companion Loan Holders affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Trust and Servicing Agreement or modifying in any manner the rights of the Certificateholders;
provided, however, that no such amendment may:

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Whole Loan
which are required to be distributed on any Certificate, without the consent of the Holders of Certificates representing all of
the Percentage Interests of the Class or Classes affected thereby or 

 

    	 	 A-5-9	 

     

    

 

	 	 	which are required to be distributed to any Companion Loan
Holder without the consent of such Companion Loan Holder;

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Trust and Servicing Agreement without the consent of the Holders of
Certificates representing all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected
Companion Loan Holder;

		(iii)	alter the Servicing Standard or obligations of the Master Servicer or the Trustee to make a P&I
Advance, Administrative Advance or a Property Advance, without the consent of the Holders of Certificates representing all of the
Percentage Interests of the Class or Classes affected thereby and the consent of any affected Companion Loan Holder; or

		(iv)	amend any section of the Trust and Servicing Agreement which relates to the amendment of the Trust
and Servicing Agreement without the consent of the Holders of all Certificates representing all of the Percentage Interests of
the Class or Classes affected thereby and the consent of any affected Companion Loan Holder.

Further, the Depositor, the
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee, at any time and from time to time, without
the consent of the Certificateholders, may amend the Trust and Servicing Agreement to modify, eliminate or add to any of its provisions
to such extent as shall be necessary: (i) to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or the Companion Loan Holders or (ii) to comply with the Investment
Company Act of 1940, as amended, and/or any related regulatory actions and/or interpretations.

The Directing Holder and if
the Directing Holder does not exercise such option, then the Special Servicer and if the Special Servicer does not exercise such
option, then the Master Servicer, and if the Master Servicer does not exercise its option, a Holder of a majority of the Percentage
Interest in the Class R and Class LR Certificates, may effect an early termination of the Trust Fund (provided that such party
has provided 15 Business Days’ prior notice to each of the parties with such option and none of the parties with a higher
priority has elected to exercise such option within such 15 Business Day period), upon not less than 30 days’ prior Notice
of Termination (which Notice of Termination shall satisfy the notice requirement of the proviso) given to the Trustee, the Certificate
Administrator, the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date specifying the
Anticipated Final Termination Date, by purchasing on such date all, but not less than all, of the Trust Loan then included in the
Trust Fund, and all, but not less than all, of the Trust’s interest in all property acquired in respect of the Trust Loan,
at a purchase price, payable in cash, equal to the greater of,

 

    	 	 A-5-10	 

     

    

 

(i)           the sum of, without
duplication:

		(A)	the outstanding principal balance of the Trust Loan as of the last day of the month preceding such
Anticipated Final Termination Date (less any P&I Advances previously made on account of principal);

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Final Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

		(C)	all unpaid interest accrued on the unpaid balance of the Trust Loan (including if title to the
Mortgaged Property has been acquired) at the Trust Loan Rate to the last day of the Certificate Interest Accrual Period preceding
such Anticipated Final Termination Date (less any P&I Advances previously made on account of interest);

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Trustee/Certificate Administrator Fees, the CREFC® License
Fee and Trust Fund expenses and indemnity amounts owed by the Trust: and

(ii)          the aggregate
fair market value of the Trust Loan, and all other property acquired in respect of the Trust Loan in the Trust Fund, on the last
day of the month preceding such Distribution Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date, together with one month’s
interest thereon at the Trust Loan Rate.

In addition, the Trust and
Servicing Agreement provides that the Sole Certificateholder shall have the right to exchange all of its Certificates (other than
the Class R and Class LR Certificates) for the Trust Loan and the REO Property, as applicable, as contemplated by clause (ii) of
Section 9.01(a) of the Trust and Servicing Agreement by giving written notice to all the parties to the Trust and Servicing Agreement
no later than 60 days prior to the anticipated date of exchange.

All costs and expenses incurred
by any and all parties to the Trust and Servicing Agreement or by the Trust Fund in connection with the purchase of the Trust Loan
and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Trust and Servicing Agreement shall be borne by the party
exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely conclusively
on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Trust and Servicing Agreement.

 

    	 	 A-5-11	 

     

    

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee
created by the Trust and Servicing Agreement with respect to the Certificates (other than the obligations of the Certificate Administrator
to make certain payments and to send certain notices to Certificateholders as set forth in the Trust and Servicing Agreement) shall
terminate upon payment (or provision for payment) to the Certificateholders of all amounts held by or on behalf of the Trustee,
the Certificate Administrator and the Master Servicer, as the case may be, required under the Trust and Servicing Agreement to
be so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Trust Loan and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Trust and Servicing Agreement; (ii) the exchange by the Sole Certificateholder
of its Certificates for the Trust Loan in accordance with Section 9.01(g) of the Trust and Servicing Agreement; and (iii) the later
of (a) the receipt or collection of the last payment due on the Trust Loan included in the Trust Fund, or (b) the liquidation and
disposition pursuant to the Trust and Servicing Agreement of the last asset held by the Trust Fund; provided, however,
that in no event shall the trust created by the Trust and Servicing Agreement continue beyond the expiration of 21 years from the
death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom,
living on the date hereof.

Unless the Certificate of
Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating Agent,
by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be valid
for any purpose.

 

This Certificate does not purport to summarize
the Trust and Servicing Agreement and reference is made to that agreement for information with respect to the interests, rights,
benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the parties thereto. This
Certificate is issued under and is subject to the terms, provisions and conditions of the Trust and Servicing Agreement, to which
Trust and Servicing Agreement, as amended from time to time, the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound. In the case of any conflict between terms specified in this Certificate and terms specified
in the Trust and Servicing Agreement, the terms of the Trust and Servicing Agreement shall govern.

    	 	 A-5-12	 

     

    

 

IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class D Certificate to be duly executed.

 

	Dated: 	 	 

 

	 	DEUTSCHE BANK TRUST
COMPANY AMERICAS, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

Certificate of Authentication

This is one of the Class D
Certificates referred to in the Trust and Servicing Agreement.

 

	Dated: 	 	 

 

	 	DEUTSCHE BANK TRUST
COMPANY AMERICAS, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By: 	 
	 	 	Authorized Signatory

 

    	 	 A-5-13	 

     

    

 

SCHEDULE OF EXCHANGES OF GLOBAL CERTIFICATES

 

The following exchanges of a part of this Global Certificate
have been made:

 

    	 	 A-5-14	 

     

    

 

EXHIBIT A-6

FORM OF CLASS R CERTIFICATE

THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION
OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR, THE
TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING TRUST LOAN ARE INSURED OR GUARANTEED
BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE
REPRESENTS A “RESIDUAL INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” AS THOSE TERMS ARE DEFINED,
RESPECTIVELY, IN SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”). A TRANSFEREE
OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY,
AS SET FORTH IN SECTION 5.02 OF THE TRUST AND SERVICING AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT TO THE TRANSFEROR
AND THE CERTIFICATE ADMINISTRATOR TO THE EFFECT THAT IT IS A PERMITTED TRANSFEREE AND, AMONG OTHER THINGS, (A) IT IS NOT A DISQUALIFIED
ORGANIZATION, AS SUCH TERM IS DEFINED IN SECTION 860E(e)(5) OF THE CODE, OR AN AGENT (INCLUDING A BROKER, NOMINEE OR OTHER MIDDLEMAN)
FOR SUCH DISQUALIFIED ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE, (B) IT WILL NOT CAUSE INCOME WITH RESPECT TO THIS CERTIFICATE
TO BE ATTRIBUTABLE TO A FOREIGN PERMANENT ESTABLISHMENT OR FIXED BASE, WITHIN THE MEANING OF AN APPLICABLE INCOME TAX TREATY, OF
SUCH PERSON OR ANY OTHER U.S. PERSON, (C) IT HAS HISTORICALLY PAID ITS DEBTS AS THEY HAVE COME DUE AND INTENDS TO CONTINUE TO PAY
ITS DEBTS AS THEY COME DUE IN THE FUTURE, AND (D) IT INTENDS TO PAY ANY TAXES ASSOCIATED WITH HOLDING THIS CERTIFICATE AS THEY
BECOME DUE. ANY PURPORTED TRANSFER TO A DISQUALIFIED ORGANIZATION OR OTHER PERSON THAT IS NOT A PERMITTED TRANSFEREE OR OTHERWISE
IN VIOLATION OF THESE RESTRICTIONS SHALL BE ABSOLUTELY NULL AND VOID AND SHALL VEST NO RIGHTS IN ANY PURPORTED TRANSFEREE. BECAUSE
THIS CERTIFICATE REPRESENTS A “NONECONOMIC RESIDUAL INTEREST,” AS DEFINED IN TREASURY REGULATIONS SECTION 1.860E-1(c),
CERTAIN TRANSFERS OF THIS CERTIFICATE WILL BE DISREGARDED FOR FEDERAL INCOME TAX PURPOSES. IN ORDER TO SATISFY A REGULATORY SAFE
HARBOR UNDER WHICH SUCH TRANSFERS WILL NOT BE DISREGARDED, THE TRANSFEROR MAY BE REQUIRED, AMONG OTHER THINGS, TO SATISFY ITSELF
AS TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND EITHER TO PAY A SPECIFIED AMOUNT TO THE PROPOSED TRANSFEREE OR TRANSFER
TO AN ELIGIBLE TRANSFEREE AS PROVIDED IN REGULATIONS.

 

     A-6-1

     

    

 

THE HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF,
IS DEEMED TO HAVE AGREED TO CONSENT TO ACT AS “TAX MATTERS PERSON” AND “PARTNERSHIP REPRESENTATIVE” WITHIN
THE MEANING OF SECTION 6223 OF THE CODE, TO THE EXTENT SUCH PROVISION IS APPLICABLE TO THE TRUST REMICS, OF THE UPPER-TIER REMIC
AND TO THE APPOINTMENT OF THE CERTIFICATE ADMINISTRATOR AS ATTORNEY IN FACT AND AGENT FOR THE TAX MATTERS PERSON OR AS OTHERWISE
PROVIDED IN THE TRUST AND SERVICING AGREEMENT TO PERFORM THE FUNCTIONS OF A “TAX MATTERS PARTNER” AND “PARTNERSHIP
REPRESENTATIVE” FOR PURPOSES OF SUBCHAPTER C OF CHAPTER 63 OF SUBTITLE F OF THE CODE.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED
OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE OR FOREIGN SECURITIES
LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT TO A REGISTRATION STATEMENT
WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT
TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR THAT THE HOLDER REASONABLY BELIEVES
IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED INSTITUTIONAL BUYER”)
PURCHASING FOR ITS OWN ACCOUNT, OR A PERSON PURCHASING FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM THE HOLDER
HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (3) IN THE
CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTIONAL INVESTOR THAT IS AN “ACCREDITED INVESTOR,” AS SUCH TERM IS DEFINED
IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE
INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS” AS SUCH TERM IS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, OR (4) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTION THAT IS A NOT A “U.S.
PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH, RULE 903 OR RULE
904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF
THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

THIS CERTIFICATE SHOULD NOT BE PURCHASED BY
A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT OR
A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR A GOVERNMENTAL PLAN, AS 

     A-6-2

     

    

DEFINED IN SECTION 3(32)
OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS TO A MATERIAL EXTENT SIMILAR
TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE INVESTMENT FUND IN WHICH SUCH
PLANS ARE INVESTED, AN INSURANCE COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR
WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH
PLAN OR USING THE ASSETS OF ANY SUCH PLAN. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED
TO DELIVER A LETTER IN THE FORM ATTACHED TO THE TRUST AND SERVICING AGREEMENT TO SUCH EFFECT.

TRANSFERS AND EXCHANGES OF THIS CERTIFICATE
ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

ANY HOLDER DESIRING TO EFFECT A TRANSFER OF THIS
CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE, THE
MASTER SERVICER, THE SPECIAL SERVICER AND THE DEPOSITOR AGAINST ANY LIABILITY THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

     A-6-3

     

    

 

DBJPM 2016-SFC MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS R

	No.: R-[__]	Percentage Interest: ___%
	 	
        CUSIP:  23312R AL91

                      U2402A AF12

        ISIN:     US23312RAL963

                      USU2402AAF134

This
certifies that [          ] is the registered owner of the Percentage Interest evidenced by this Certificate in the Trust Fund. The Class
R Certificateholder is not entitled to interest or principal distributions. The Class R Certificateholder will be entitled to
receive the proceeds of the remaining assets of the Upper-Tier REMIC, if any, on the Final Scheduled Distribution Date for the
Certificates, after distributions in respect of any accrued but unpaid interest on the Certificates and after distributions in
reduction of principal balance have reduced the principal balances of the Certificates to zero. It is not anticipated that there
will be any assets remaining in the Upper-Tier REMIC or Trust Fund on the Final Scheduled Distribution Date following the distributions
on the Regular Certificates. The Trust Fund, described more fully below, consists primarily of a Trust Loan secured by a partial
interest in a first lien mortgage on the fee simple interest in a super regional mall and office property and held in trust by
the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Trust Loan is to be serviced, pursuant to
the Trust and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.

The Trust and Servicing Agreement,
dated as of August 1, 2016 (the “Trust and Servicing Agreement”), between Deutsche Mortgage & Asset Receiving
Corporation, as depositor (the “Depositor”), Wells Fargo Bank, National Association, as master servicer (the
“Master Servicer”), Pacific Life Insurance Company, as special servicer (the “Special Servicer”),
Wilmington Trust, National Association, as trustee (the “Trustee”), and Deutsche Bank Trust Company Americas,
as certificate administrator (in such capacity, the “Certificate Administrator”), custodian and paying agent,
evidences the issuance of the Class A, Class X-A, Class B, Class C, Class D, Class R and Class LR Certificates (the “Certificates”;
the Holders of Certificates issued under the Trust and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Trust and Servicing Agreement. To the extent not
defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Trust and Servicing Agreement.

 

1
For Rule 144A Certificates.

2
For Regulation S Certificates.

3
For Rule 144A Certificates.

4
For Regulation S Certificates.

     A-6-4

     

    

This Class R Certificate represents
the sole “residual interest” in a “real estate mortgage investment conduit”, as those terms are defined,
respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate,
by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with
the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed
on or measured by income. The Holder of the largest Percentage Interest in the Class R Certificates shall be the “tax matters
person” for the Upper-Tier REMIC pursuant to Treasury Regulations Section 1.860F-4(d) and “partnership representative”
within the meaning of Section 6223 of the Code, to the extent such provision is applicable to the Trust REMICs, and the Certificate
Administrator is hereby irrevocably designated and shall serve as attorney-in-fact and agent for any such Person that is the “tax
matters person” and “partnership representative”.

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of the Trust and
Servicing Agreement, such provision of this Certificate shall be superseded by the Trust and Servicing Agreement to the extent
of such inconsistency.

All distributions (other than
the final distribution on any Certificate) will be made by the Paying Agent to the persons in whose names the Certificates are
registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the calendar
month immediately preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor, provided that such Holder shall have provided the Paying Agent with wire instructions in writing at least five
Business Days prior to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor
in the Certificate Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment
and surrender of such Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or
the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such final distribution.

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Trust and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders

     A-6-5

     

    

concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Trust and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Trust and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Trust Loan, as more specifically
set forth herein and in the Trust and Servicing Agreement.

As provided in the Trust and
Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein) (i) the Trust
Loan, together with the Mortgage File relating thereto; (ii) all scheduled or unscheduled payments on or collections in respect
of the Trust Loan due after the Cut-off Date; (iii) the REO Property; (iv) all revenues received in respect of the REO Property;
(v) any indemnities or guaranties given as additional security for the Trust Loan; (vi) a security interest in all assets deposited
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve Accounts; (vii) amounts on deposit in the Collection
Account attributable to the Trust Loan as identified on the Trust Ledger, the Distribution Accounts, the Interest Reserve Account
or any REO Account, including any reinvestment income, as applicable; (viii) a security interest in any environmental indemnity
agreements relating to the Mortgaged Property; (ix) a security interest in all insurance policies with respect to the Trust Loan
and the Mortgaged Property; (x) the rights and remedies under the Trust Loan Purchase Agreements relating to document delivery
requirements with respect to the Trust Loan and the representations and warranties of the Trust Loan Sellers regarding the Trust
Loan; (xi) the Lower-Tier Regular Interests; and (xii) the proceeds of the foregoing (other than any interest earned on deposits
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest belongs
to the Borrower). As provided in the Trust and Servicing Agreement, withdrawals may be made from certain of the above-accounts
for purposes other than distributions to Certificateholders.

This Certificate does not
purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the interests,
rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities of
the Certificate Administrator.

As provided in the Trust and
Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable only
upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in

     A-6-6

     

    

Article V of the Trust and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Trust and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Trust and Servicing Agreement.

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate
is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice
or knowledge to the contrary.

No fee or service charge shall
be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred to in
Section 5.02 of the Trust and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided in
Section 5.02(h) of the Trust and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Trust and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar
may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection
with any such transfer.

The Trust and Servicing Agreement
or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator and the Trustee without the consent of any of the Certificateholders, (i) to cure any ambiguity or to correct any
error; (ii) to cause the provisions of the Trust and Servicing Agreement to conform or be consistent with or in furtherance of
the statements made in the Offering Circular with respect to the Certificates, the Trust or the Trust and Servicing Agreement or
to correct or supplement any provisions of the Trust and Servicing Agreement or herein which may be defective or inconsistent with
any other provisions of the Trust and Servicing Agreement or herein; (iii) to amend any provision of the Trust and Servicing Agreement
to the extent necessary or desirable to maintain the rating or ratings assigned to each of the Classes of Certificates or Companion
Loan Securities by each Rating Agency (provided that such amendment does not adversely affect in any material respect (x)
the interests of any Certificateholder or Companion Loan Holder not consenting thereto or (y) the rights or interests of the Directing
Holder without the consent of the Holders of Certificates representing all of the Percentage Interests of the Controlling Class);
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Trust and Servicing Agreement, or any other change that will not adversely affect in any material respect the interests
of any Certificateholder or Companion Loan Holder not consenting thereto (as evidenced in writing by an Opinion of Counsel or,
if solely affecting any Certificateholder of

     A-6-7

     

    

a rated Class or a Companion Loan Holder, in respect of which a No Downgrade Confirmation
has been obtained relating to the Certificates or the Companion Loan Securities, if applicable); and (v) to modify the procedures
in the Trust and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided that such modification
does not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate Administrator, the
17g-5 Information Provider, the Master Servicer or the Special Servicer without such parties’ consent; and provided,
further, that such amendment shall not adversely affect in any material respects the interests of any Certificateholders
or Companion Loan Holders not consenting thereto, as evidenced by in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
Rating Agency and a No Downgrade Confirmation with respect to any Companion Loan Securities. In no event shall any such amendment
cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or subject either REMIC to tax.

The Trust and Servicing Agreement
or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator and the Trustee with the prior written consent of the Holders of Certificates representing not less than
66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to Certificates held by the
Depositor, any of the Depositor’s Affiliates and/or agents or the Trust Loan Sellers) and the Companion Loan Holders affected
thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Trust
and Servicing Agreement or modifying in any manner the rights of the Certificateholders; provided, however, that
no such amendment may:

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Whole Loan
which are required to be distributed on any Certificate, without the consent of the Holders of Certificates representing all of
the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to any Companion Loan
Holder without the consent of such Companion Loan Holder;

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Trust and Servicing Agreement without the consent of the Holders of
Certificates representing all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected
Companion Loan Holder;

		(iii)	alter the Servicing Standard or obligations of the Master Servicer or the Trustee to make a P&I
Advance, Administrative Advance or a Property Advance, without the consent of the Holders of Certificates representing all of the
Percentage Interests of the Class or Classes affected thereby and the consent of any affected Companion Loan Holder; or

		(iv)	amend any section of the Trust and Servicing Agreement which relates to the amendment of the Trust
and Servicing Agreement without the consent 

 

     A-6-8

     

    

	 	 	of the Holders of all Certificates representing all of the Percentage Interests of
the Class or Classes affected thereby and the consent of any affected Companion Loan Holder.

Further, the Depositor, the
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee, at any time and from time to time, without
the consent of the Certificateholders, may amend the Trust and Servicing Agreement to modify, eliminate or add to any of its provisions
to such extent as shall be necessary: (i) to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or the Companion Loan Holders or (ii) to comply with the Investment
Company Act of 1940, as amended, and/or any related regulatory actions and/or interpretations.

The Directing Holder and if
the Directing Holder does not exercise such option, then the Special Servicer and if the Special Servicer does not exercise such
option, then the Master Servicer, and if the Master Servicer does not exercise its option, a Holder of a majority of the Percentage
Interest in the Class R and Class LR Certificates, may effect an early termination of the Trust Fund (provided that such party
has provided 15 Business Days’ prior notice to each of the parties with such option and none of the parties with a higher
priority has elected to exercise such option within such 15 Business Day period), upon not less than 30 days’ prior Notice
of Termination (which Notice of Termination shall satisfy the notice requirement of the proviso) given to the Trustee, the Certificate
Administrator, the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date specifying the
Anticipated Final Termination Date, by purchasing on such date all, but not less than all, of the Trust Loan then included in the
Trust Fund, and all, but not less than all, of the Trust’s interest in all property acquired in respect of the Trust Loan,
at a purchase price, payable in cash, equal to the greater of,

(i)            the sum of, without
duplication:

		(A)	the outstanding principal balance of the Trust Loan as of the last day of the month preceding such
Anticipated Final Termination Date (less any P&I Advances previously made on account of principal);

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Final Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

		(C)	all unpaid interest accrued on the unpaid balance of the Trust Loan (including if title to the
Mortgaged Property has been acquired) at the Trust Loan Rate to the last day of the Certificate Interest 

 

     A-6-9

     

    

	 	 	Accrual Period preceding
such Anticipated Final Termination Date (less any P&I Advances previously made on account of interest);

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Trustee/Certificate Administrator Fees, the CREFC® License
Fee and Trust Fund expenses and indemnity amounts owed by the Trust: and

(ii)          the aggregate
fair market value of the Trust Loan, and all other property acquired in respect of the Trust Loan in the Trust Fund, on the last
day of the month preceding such Distribution Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date, together with one month’s
interest thereon at the Trust Loan Rate.

In addition, the Trust and
Servicing Agreement provides that the Sole Certificateholder shall have the right to exchange all of its Certificates (other than
the Class R and Class LR Certificates) for the Trust Loan and the REO Property, as applicable, as contemplated by clause (ii) of
Section 9.01(a) of the Trust and Servicing Agreement by giving written notice to all the parties to the Trust and Servicing Agreement
no later than 60 days prior to the anticipated date of exchange.

All costs and expenses incurred
by any and all parties to the Trust and Servicing Agreement or by the Trust Fund in connection with the purchase of the Trust Loan
and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Trust and Servicing Agreement shall be borne by the party
exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely conclusively
on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Trust and Servicing Agreement.

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee
created by the Trust and Servicing Agreement with respect to the Certificates (other than the obligations of the Certificate Administrator
to make certain payments and to send certain notices to Certificateholders as set forth in the Trust and Servicing Agreement) shall
terminate upon payment (or provision for payment) to the Certificateholders of all amounts held by or on behalf of the Trustee,
the Certificate Administrator and the Master Servicer, as the case may be, required under the Trust and Servicing Agreement to
be so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Trust Loan and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Trust and Servicing Agreement; (ii) the exchange by the Sole Certificateholder
of its Certificates for the Trust Loan in accordance with Section 9.01(g) of the Trust and Servicing Agreement; and (iii) the later
of (a) the receipt or collection of the last payment due on the Trust Loan included in the Trust Fund, or (b) the liquidation and
disposition pursuant to the Trust and Servicing Agreement of the last asset held by the Trust Fund; provided, however,
that in no event shall the trust created by the Trust and Servicing Agreement continue beyond the expiration of 21 years from the
death of the last survivor of the descendants of Joseph

     A-6-10

     

    

P. Kennedy, the late Ambassador of the United States to the United Kingdom,
living on the date hereof.

Unless the Certificate of
Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating Agent,
by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be valid
for any purpose.

 

This Certificate does not purport to summarize
the Trust and Servicing Agreement and reference is made to that agreement for information with respect to the interests, rights,
benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the parties thereto. This
Certificate is issued under and is subject to the terms, provisions and conditions of the Trust and Servicing Agreement, to which
Trust and Servicing Agreement, as amended from time to time, the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound. In the case of any conflict between terms specified in this Certificate and terms specified
in the Trust and Servicing Agreement, the terms of the Trust and Servicing Agreement shall govern.

     A-6-11

     

    

 

IN WITNESS WHEREOF, the Certificate
Administrator has caused this Class R Certificate to be duly executed.

Dated: ___________

 

	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

 Certificate of Authentication

This is one of the Class R
Certificates referred to in the Trust and Servicing Agreement.

Dated: ___________

	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

     A-6-12

     

    

 

EXHIBIT A-7

 

FORM OF CLASS LR CERTIFICATE

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING TRUST LOAN ARE INSURED OR GUARANTEED
BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “RESIDUAL INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).
A TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS
ON TRANSFERABILITY, AS SET FORTH IN SECTION 5.02 OF THE TRUST AND SERVICING AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT
TO THE TRANSFEROR AND THE CERTIFICATE ADMINISTRATOR TO THE EFFECT THAT IT IS A PERMITTED TRANSFEREE AND, AMONG OTHER THINGS, (A)
IT IS NOT A DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN SECTION 860E(e)(5) OF THE CODE, OR AN AGENT (INCLUDING A BROKER,
NOMINEE OR OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE, (B) IT WILL NOT CAUSE INCOME
WITH RESPECT TO THIS CERTIFICATE TO BE ATTRIBUTABLE TO A FOREIGN PERMANENT ESTABLISHMENT OR FIXED BASE, WITHIN THE MEANING OF AN
APPLICABLE INCOME TAX TREATY, OF SUCH PERSON OR ANY OTHER U.S. PERSON, (C) IT HAS HISTORICALLY PAID ITS DEBTS AS THEY HAVE COME
DUE AND INTENDS TO CONTINUE TO PAY ITS DEBTS AS THEY COME DUE IN THE FUTURE, AND (D) IT INTENDS TO PAY ANY TAXES ASSOCIATED WITH
HOLDING THIS CERTIFICATE AS THEY BECOME DUE. ANY PURPORTED TRANSFER TO A DISQUALIFIED ORGANIZATION OR OTHER PERSON THAT IS NOT
A PERMITTED TRANSFEREE OR OTHERWISE IN VIOLATION OF THESE RESTRICTIONS SHALL BE ABSOLUTELY NULL AND VOID AND SHALL VEST NO RIGHTS
IN ANY PURPORTED TRANSFEREE. BECAUSE THIS CERTIFICATE REPRESENTS A “NONECONOMIC RESIDUAL INTEREST,” AS DEFINED IN TREASURY
REGULATIONS SECTION 1.860E-1(c), CERTAIN TRANSFERS OF THIS CERTIFICATE WILL BE DISREGARDED FOR FEDERAL INCOME TAX PURPOSES. IN
ORDER TO SATISFY A REGULATORY SAFE HARBOR UNDER WHICH SUCH TRANSFERS WILL NOT BE DISREGARDED, THE TRANSFEROR MAY BE REQUIRED, AMONG
OTHER THINGS, TO SATISFY ITSELF AS TO THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND EITHER TO PAY A SPECIFIED AMOUNT TO
THE PROPOSED TRANSFEREE OR TRANSFER TO AN ELIGIBLE TRANSFEREE AS PROVIDED IN REGULATIONS.

 

     A-7-1

     

    

 

THE HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE
HEREOF, IS DEEMED TO HAVE AGREED TO CONSENT TO ACT AS “TAX MATTERS PERSON” AND “PARTNERSHIP REPRESENTATIVE”
WITHIN THE MEANING OF SECTION 6223 OF THE CODE, TO THE EXTENT SUCH PROVISION IS APPLICABLE TO THE TRUST REMICS, OF THE LOWER-TIER
REMIC AND TO THE APPOINTMENT OF THE CERTIFICATE ADMINISTRATOR AS ATTORNEY IN FACT AND AGENT FOR THE TAX MATTERS PERSON OR AS OTHERWISE
PROVIDED IN THE TRUST AND SERVICING AGREEMENT TO PERFORM THE FUNCTIONS OF A “TAX MATTERS PARTNER” AND “PARTNERSHIP
REPRESENTATIVE” FOR PURPOSES OF SUBCHAPTER C OF CHAPTER 63 OF SUBTITLE F OF THE CODE.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR THAT
THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”) PURCHASING FOR ITS OWN ACCOUNT, OR A PERSON PURCHASING FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL
BUYER, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE
ON RULE 144A, (3) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTIONAL INVESTOR THAT IS AN “ACCREDITED INVESTOR,”
AS SUCH TERM IS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL
OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS” AS SUCH TERM IS DEFINED IN RULE 501(a)(1),
(2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTION THAT
IS A NOT A “U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE
WITH, RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR A GOVERNMENTAL PLAN, AS

 

     A-7-2

     

    

 

DEFINED IN SECTION 3(32)
OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS TO A MATERIAL EXTENT SIMILAR
TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE INVESTMENT FUND IN WHICH SUCH
PLANS ARE INVESTED, AN INSURANCE COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR
WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH
PLAN OR USING THE ASSETS OF ANY SUCH PLAN. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED
TO DELIVER A LETTER IN THE FORM ATTACHED TO THE TRUST AND SERVICING AGREEMENT TO SUCH EFFECT.

 

TRANSFERS AND EXCHANGES OF THIS CERTIFICATE
ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE TRUST AND SERVICING AGREEMENT REFERRED TO BELOW.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER, THE SPECIAL SERVICER AND THE DEPOSITOR AGAINST ANY LIABILITY THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT
FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

     A-7-3

     

    

 

DBJPM 2016-SFC MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS LR

 

	No.: LR-[__]	 	Percentage Interest: ___%
	 	 	
        CUSIP:23312R AN51

                      U2402A AG92

         

        ISIN:     US23312RAN523

                      USU2402AAG954

         

 

This certifies that
[                 ] is the registered owner
of the Percentage Interest evidenced by this Certificate in the Trust Fund. The Class LR Certificateholder is not entitled to
interest or principal distributions. The Class LR Certificateholder will be entitled to receive the proceeds of the remaining
assets of the Upper-Tier REMIC, if any, on the Final Scheduled Distribution Date for the Certificates, after distributions in
respect of any accrued but unpaid interest on the Certificates and after distributions in reduction of principal balance
have reduced the principal balances of the Certificates to zero. It is not anticipated that there will be any assets
remaining in the Upper-Tier REMIC or Trust Fund on the Final Scheduled Distribution Date following the distributions on the
Regular Certificates. The Trust Fund, described more fully below, consists primarily of a Trust Loan secured by a partial
interest in a first lien mortgage on the fee simple interest in a super regional mall and office property and held in trust
by the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Trust Loan is to be serviced,
pursuant to the Trust and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance
hereof, assents to the terms, provisions and conditions of the Trust and Servicing Agreement and is bound thereby.

 

The Trust and Servicing
Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”), between Deutsche Mortgage &
Asset Receiving Corporation, as depositor (the “Depositor”), Wells Fargo Bank, National Association, as master
servicer (the “Master Servicer”), Pacific Life Insurance Company, as special servicer (the “Special
Servicer”), Wilmington Trust, National Association, as trustee (the “Trustee”), and Deutsche Bank
Trust Company Americas, as certificate administrator (in such capacity, the “Certificate Administrator”), custodian
and paying agent, evidences the issuance of the Class A, Class X-A, Class B, Class C, Class D, Class R and Class LR Certificates
(the “Certificates”; the Holders of Certificates issued under the Trust and Servicing Agreement are collectively
referred to herein as “Certificateholders”). This Certificate is issued pursuant to, and in accordance with,
the terms of the Trust and Servicing Agreement. To the extent not defined herein, capitalized terms used herein shall have the
meanings assigned thereto in the Trust and Servicing Agreement.

 

 

 

1
For Rule 144A Certificates.

 

2
For Regulation S Certificates.

 

3
For Rule 144A Certificates.

 

4
For Regulation S Certificates.

 

     A-7-4

     

    

 

This Class LR Certificate
represents the sole “residual interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income. The Holder of the largest Percentage Interest in the Class LR Certificates shall be the
“tax matters person” for the Lower-Tier REMIC pursuant to Treasury Regulations Section 1.860F-4(d) and “partnership
representative” within the meaning of Section 6223 of the Code, to the extent such provision is applicable to the Trust REMICs,
and the Certificate Administrator is hereby irrevocably designated and shall serve as attorney-in-fact and agent for any such Person
that is the “tax matters person” and “partnership representative”.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Trust Loan and has executed this Certificate in its limited capacity as Certificate Administrator under the Trust and Servicing
Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of the Trust and
Servicing Agreement, such provision of this Certificate shall be superseded by the Trust and Servicing Agreement to the extent
of such inconsistency.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month immediately preceding the month in which such Distribution Date occurs. Such distributions shall be made on each
Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer
of immediately available funds to the account of such Holder at a bank or other entity located in the United States and having
appropriate facilities therefor, provided that such Holder shall have provided the Paying Agent with wire instructions in
writing at least five Business Days prior to the related Record Date, or, otherwise, by check mailed by first-class mail to the
address set forth therefor in the Certificate Register. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent (which
may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such final
distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Trust and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders

 

     A-7-5

     

    

 

concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Trust and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Trust and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Trust Loan, as more specifically
set forth herein and in the Trust and Servicing Agreement.

 

As provided in the Trust
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein) (i) the
Trust Loan, together with the Mortgage File relating thereto; (ii) all scheduled or unscheduled payments on or collections in respect
of the Trust Loan due after the Cut-off Date; (iii) the REO Property; (iv) all revenues received in respect of the REO Property;
(v) any indemnities or guaranties given as additional security for the Trust Loan; (vi) a security interest in all assets deposited
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve Accounts; (vii) amounts on deposit in the Collection
Account attributable to the Trust Loan as identified on the Trust Ledger, the Distribution Accounts, the Interest Reserve Account
or any REO Account, including any reinvestment income, as applicable; (viii) a security interest in any environmental indemnity
agreements relating to the Mortgaged Property; (ix) a security interest in all insurance policies with respect to the Trust Loan
and the Mortgaged Property; (x) the rights and remedies under the Trust Loan Purchase Agreements relating to document delivery
requirements with respect to the Trust Loan and the representations and warranties of the Trust Loan Sellers regarding the Trust
Loan; (xi) the Lower-Tier Regular Interests; and (xii) the proceeds of the foregoing (other than any interest earned on deposits
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest belongs
to the Borrower). As provided in the Trust and Servicing Agreement, withdrawals may be made from certain of the above-accounts
for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Trust and Servicing Agreement, and reference is made to the Trust and Servicing Agreement for the
interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and immunities
of the Certificate Administrator.

 

As provided in the Trust
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in

 

     A-7-6

     

    

 

Article V of the Trust and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Trust and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Trust and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat the Person in whose name this Certificate
is registered as the owner hereof for all purposes, and none of the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice
or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Trust and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Trust and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Trust and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate Registrar
may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable in connection
with any such transfer.

 

The Trust and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator and the Trustee without the consent of any of the Certificateholders, (i) to cure any ambiguity or to
correct any error; (ii) to cause the provisions of the Trust and Servicing Agreement to conform or be consistent with or in furtherance
of the statements made in the Offering Circular with respect to the Certificates, the Trust or the Trust and Servicing Agreement
or to correct or supplement any provisions of the Trust and Servicing Agreement or herein which may be defective or inconsistent
with any other provisions of the Trust and Servicing Agreement or herein; (iii) to amend any provision of the Trust and Servicing
Agreement to the extent necessary or desirable to maintain the rating or ratings assigned to each of the Classes of Certificates
or Companion Loan Securities by each Rating Agency (provided that such amendment does not adversely affect in any material
respect (x) the interests of any Certificateholder or Companion Loan Holder not consenting thereto or (y) the rights or interests
of the Directing Holder without the consent of the Holders of Certificates representing all of the Percentage Interests of the
Controlling Class); (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Trust and Servicing Agreement, or any other change that will not adversely affect in any material respect
the interests of any Certificateholder or Companion Loan Holder not consenting thereto (as evidenced in writing by an Opinion of
Counsel or, if solely affecting any Certificateholder of

 

     A-7-7

     

    

 

a rated Class or a Companion Loan Holder, in respect of which a No Downgrade
Confirmation has been obtained relating to the Certificates or the Companion Loan Securities, if applicable); and (v) to modify
the procedures in the Trust and Servicing Agreement relating to compliance with Rule 17g-5 of the Exchange Act; provided
that such modification does not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such parties’ consent;
and provided, further, that such amendment shall not adversely affect in any material respects the interests of any
Certificateholders or Companion Loan Holders not consenting thereto, as evidenced by in the case of clauses (iii) through (v) above
by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation
from each Rating Agency and a No Downgrade Confirmation with respect to any Companion Loan Securities. In no event shall any such
amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or subject either REMIC to tax.

 

The Trust and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator and the Trustee with the prior written consent of the Holders of Certificates representing not less
than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to Certificates held by
the Depositor, any of the Depositor’s Affiliates and/or agents or the Trust Loan Sellers) and the Companion Loan Holders
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Trust and Servicing Agreement or modifying in any manner the rights of the Certificateholders; provided, however,
that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Whole Loan
which are required to be distributed on any Certificate, without the consent of the Holders of Certificates representing all of
the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to any Companion Loan
Holder without the consent of such Companion Loan Holder;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Trust and Servicing Agreement without the consent of the Holders of
Certificates representing all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected
Companion Loan Holder;

 

		(iii)	alter the Servicing Standard or obligations of the Master Servicer or the Trustee to make a P&I
Advance, Administrative Advance or a Property Advance, without the consent of the Holders of Certificates representing all of the
Percentage Interests of the Class or Classes affected thereby and the consent of any affected Companion Loan Holder; or

 

		(iv)	amend any section of the Trust and Servicing Agreement which relates to the amendment of the Trust
and Servicing Agreement without the consent 

 

     A-7-8

     

    

 

	 	 	of the Holders of all Certificates representing all of the Percentage Interests of
the Class or Classes affected thereby and the consent of any affected Companion Loan Holder.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee, at any time and from time to time, without
the consent of the Certificateholders, may amend the Trust and Servicing Agreement to modify, eliminate or add to any of its provisions
to such extent as shall be necessary: (i) to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC,
or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is
necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect
in any material respect the interest of any Certificateholder or the Companion Loan Holders or (ii) to comply with the Investment
Company Act of 1940, as amended, and/or any related regulatory actions and/or interpretations.

 

The Directing Holder
and if the Directing Holder does not exercise such option, then the Special Servicer and if the Special Servicer does not exercise
such option, then the Master Servicer, and if the Master Servicer does not exercise its option, a Holder of a majority of the Percentage
Interest in the Class R and Class LR Certificates, may effect an early termination of the Trust Fund (provided that such party
has provided 15 Business Days’ prior notice to each of the parties with such option and none of the parties with a higher
priority has elected to exercise such option within such 15 Business Day period), upon not less than 30 days’ prior Notice
of Termination (which Notice of Termination shall satisfy the notice requirement of the proviso) given to the Trustee, the Certificate
Administrator, the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date specifying the
Anticipated Final Termination Date, by purchasing on such date all, but not less than all, of the Trust Loan then included in the
Trust Fund, and all, but not less than all, of the Trust’s interest in all property acquired in respect of the Trust Loan,
at a purchase price, payable in cash, equal to the greater of,

 

		(i)	the sum of, without duplication:

 

		(A)	the outstanding principal balance of the Trust Loan as of the last day of the month preceding such
Anticipated Final Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Final Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of the Trust Loan (including if title to the
Mortgaged Property has been acquired) at the Trust Loan Rate to the last day of the Certificate Interest 

 

     A-7-9

     

    

 

	 	 	Accrual Period preceding
such Anticipated Final Termination Date (less any P&I Advances previously made on account of interest);

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Trustee/Certificate Administrator Fees, the CREFC® License
Fee and Trust Fund expenses and indemnity amounts owed by the Trust: and

 

(ii)           the
aggregate fair market value of the Trust Loan, and all other property acquired in respect of the Trust Loan in the Trust Fund,
on the last day of the month preceding such Distribution Date, as determined by an Independent appraiser acceptable to the Master
Servicer as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date, together with
one month’s interest thereon at the Trust Loan Rate.

 

In addition, the Trust
and Servicing Agreement provides that the Sole Certificateholder shall have the right to exchange all of its Certificates (other
than the Class R and Class LR Certificates) for the Trust Loan and the REO Property, as applicable, as contemplated by clause (ii)
of Section 9.01(a) of the Trust and Servicing Agreement by giving written notice to all the parties to the Trust and Servicing
Agreement no later than 60 days prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Trust and Servicing Agreement or by the Trust Fund in connection with the purchase of the
Trust Loan and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Trust and Servicing Agreement shall be borne
by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled to rely
conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Trust and Servicing Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator and the Trustee
created by the Trust and Servicing Agreement with respect to the Certificates (other than the obligations of the Certificate Administrator
to make certain payments and to send certain notices to Certificateholders as set forth in the Trust and Servicing Agreement) shall
terminate upon payment (or provision for payment) to the Certificateholders of all amounts held by or on behalf of the Trustee,
the Certificate Administrator and the Master Servicer, as the case may be, required under the Trust and Servicing Agreement to
be so paid on the Distribution Date following the earlier to occur of (i) the purchase of the Trust Loan and all other property
held by the Trust Fund in accordance with Section 9.01(c) of the Trust and Servicing Agreement; (ii) the exchange by the Sole Certificateholder
of its Certificates for the Trust Loan in accordance with Section 9.01(g) of the Trust and Servicing Agreement; and (iii) the later
of (a) the receipt or collection of the last payment due on the Trust Loan included in the Trust Fund, or (b) the liquidation and
disposition pursuant to the Trust and Servicing Agreement of the last asset held by the Trust Fund; provided, however,
that in no event shall the trust created by the Trust and Servicing Agreement continue beyond the expiration of 21 years from the
death of the last survivor of the descendants of Joseph

 

     A-7-10

     

    

 

P. Kennedy, the late Ambassador of the United States to the United Kingdom,
living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Certificate Administrator or on its behalf by the Authenticating
Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Trust and Servicing Agreement or be
valid for any purpose.

 

This Certificate does not purport to summarize
the Trust and Servicing Agreement and reference is made to that agreement for information with respect to the interests, rights,
benefits, obligations, proceeds, and duties evidenced hereby and the rights, duties and obligations of the parties thereto. This
Certificate is issued under and is subject to the terms, provisions and conditions of the Trust and Servicing Agreement, to which
Trust and Servicing Agreement, as amended from time to time, the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound. In the case of any conflict between terms specified in this Certificate and terms specified
in the Trust and Servicing Agreement, the terms of the Trust and Servicing Agreement shall govern.

 

     A-7-11

     

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class LR Certificate to be duly executed.

 

	Dated: ___________	 	 
	 	 	 	 	 
	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Certificate Administrator
	 	 	 	 	 
	 	 	 	By:	
	 	 	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
LR Certificates referred to in the Trust and Servicing Agreement.

 

	Dated: ___________	 	 
	 	 	 	 	 
	 	 	 	DEUTSCHE BANK TRUST COMPANY AMERICAS, not in its individual capacity but solely as Authenticating Agent
	 	 	 	 	 
	 	 	 	By:	
	 	 	 	 	Authorized Signatory

 

     A-7-12

     

    

 

EXHIBIT B

 

MORTGAGE LOAN SCHEDULE

 

    	 	 	 

     

    

 

	DBJPM
    2016-SFC Mortgage Loan Schedule	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	Trust
    Loan Name	Address	City	County	State	Zip
    Code	Whole
    Loan Rate	Trust
    Loan Rate	Original
    Whole Loan Balance	Cut-off
    Whole Loan Balance	Original
    Trust Loan Balance
	Westfield
    San Francisco Centre	865 Market Street	San Francisco	San Francisco	CA	94103	3.39400%	3.39400%	$558,000,000	$558,000,000	$306,942,000

 

     

     

    

 

	DBJPM
    2016-SFC Mortgage Loan Schedule	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Trust
    Loan Name	Address	Cut-off
    Trust Loan Balance	Whole
    Loan Maturity Date	Payment
    Due Date	First
    Mortgage Loan Monthly Debt Service Payment	Master
    Servicing Fee Rate	Primary
    Servicing Fee Rate	Trustee/Administrator
    Fee	CREFC
    Fee	Total
    Admin Fee Rate	Letter
    of Credit
	Westfield
    San Francisco Centre	865 Market Street	$306,942,000	8/1/2026	1	$1,630,817.00	0.00125%	0.00125%	0.0061%	0.0005%	0.0091%	4,300,000.00

 

     

     

    

 

EXHIBIT C-1

 

FORM OF TRANSFEREE AFFIDAVIT

 

AFFIDAVIT PURSUANT TO

SECTION 860E(e)(4) OF THE

INTERNAL REVENUE CODE OF

1986, AS AMENDED

 

	STATE OF NEW YORK	)	 
	 	)	ss.:
	COUNTY OF NEW YORK	)	 

  

_____________, being first duly
sworn, deposes and says:

 

1.     That he/she is a _____________
of _____________ (the “Purchaser”), a _____________ duly organized and existing under the laws of the State
of_____________ on behalf of which he/she makes this affidavit.

 

2.     That the Purchaser’s
Taxpayer Identification Number is _____________.

 

3.     That the Purchaser of the
DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class [R][LR] (the “Class [R][LR] Certificate”)
is a Permitted Transferee (as defined in Article I of the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust
and Servicing Agreement”), entered into in connection with the DBJPM 2016-SFC securitization transaction) or is acquiring
the Class [R][LR] Certificate for the account of, or as agent (including as a broker, nominee, or other middleman) for, a Permitted
Transferee and has received from such person or entity an affidavit substantially in the form of this affidavit.

 

4.     That the Purchaser historically
has paid its debts as they have come due and intends to pay its debts as they come due in the future and the Purchaser intends
to pay taxes associated with holding the Class [R][LR] Certificate as they become due.

 

5.     That the Purchaser understands
that it may incur tax liabilities with respect to the Class [R][LR] Certificate in excess of any cash flow generated by the Class
[R][LR] Certificate.

 

6.     That the Purchaser will
not transfer the Class [R][LR] Certificate to any person or entity from which the Purchaser has not received an affidavit substantially
in the form of this affidavit or as to which the Purchaser has actual knowledge that the requirements set forth in paragraph 3,
paragraph 4 or paragraph 7 hereof are not satisfied or that the Purchaser has reason to know does not satisfy the requirements
set forth in paragraph 4 hereof.

 

7.     That the Purchaser is not
a Disqualified Non-U.S. Person and is not purchasing the Class [R][LR] Certificate for the account of, or as an agent (including
as a broker, nominee or other middleman) for, a Disqualified Non-U.S. Person and is otherwise a Permitted Transferee.

 

    	 	 C-1-1	 

     

    

 

8.     That the Purchaser agrees
to such amendments of the Trust and Servicing Agreement as may be required to further effectuate the restrictions on transfer of
the Class [R][LR] Certificate to a “disqualified organization,” an agent thereof, or a person that does not satisfy
the requirements of paragraph 4, paragraph 7 and paragraph 11 hereof.

 

9.     That, if a “tax matters
person” or “partnership representative” is required to be designated with respect to the [Upper-Tier REMIC] [Lower-Tier
REMIC], the Purchaser agrees to act as “tax matters person” and “partnership representative” and to perform
the functions of “tax matters partner” and “partnership representative” of the [Upper-Tier REMIC][Lower-Tier
REMIC] pursuant to Section 4.04 of the Trust and Servicing Agreement, and agrees to the irrevocable designation of the Certificate
Administrator as the Purchaser’s agent in performing the function of “tax matters person”, “tax matters
partner” and “partnership representative”.

 

10.   The Purchaser agrees to
be bound by and to abide by the provisions of Section 5.02 of the Trust and Servicing Agreement concerning registration of the
transfer and exchange of the Class [R][LR] Certificate.

 

11.   The Purchaser will not
cause income from the Class [R][LR] Certificate to be attributable to a foreign permanent establishment or fixed base, within the
meaning of an applicable income tax treaty, of the Purchaser or any other U.S. Person.

 

12.   Check the applicable paragraph:

 

☐     The
present value of the anticipated tax liabilities associated with holding the Class [R][LR] Certificate, as applicable, does not
exceed the sum of:

 

		(i)	the present value of any consideration given to the Purchaser to acquire such Class [R][LR] Certificate;

 

		(ii)	the present value of the expected future distributions on such Certificate; and

 

		(iii)	the present value of the anticipated tax savings associated with holding such Class [R][LR] Certificate
as the related REMIC generates losses.

 

For purposes of this calculation,
(i) the Purchaser is assumed to pay tax at the highest rate currently specified in Code Section 11(b) (but the tax rate in Code
Section 55(b)(1)(B) may be used in lieu of the highest rate specified in Code Section 11(b) if the Purchaser has been subject to
the alternative minimum tax under Code Section 55 in the preceding two years and will compute its taxable income in the current
taxable year using the alternative minimum tax rate) and (ii) present values are computed using a discount rate equal to the short-term
Federal rate prescribed by Code Section 1274(d) for the month of the transfer and the compounding period used by the Purchaser.

 

☐
     The transfer of the Class [R][LR] Certificate complies with U.S. Treasury Regulations Section 1.860E-1(c)(5) and (6) and,
accordingly,

 

		(i)	the Purchaser is an “eligible corporation,” as defined in U.S. Treasury Regulations Section
1.860E-1(c)(6)(i), as to which income from the Class [R][LR] Certificate will only be taxed in the United States;

 

    	 	 C-1-2	 

     

    

 

		(ii)	at the time of the transfer, and at the close of the Purchaser’s two fiscal years preceding
the year of the transfer, the Purchaser had gross assets for financial reporting purposes (excluding any obligation of a person
related to the Purchaser within the meaning of U.S. Treasury Regulations Section 1.860E-1(c)(6)(ii)) in excess of $100 million
and net assets in excess of $10 million;

 

		(iii)	the Purchaser will transfer the Class [R][LR] Certificate only to another “eligible corporation,”
as defined in U.S. Treasury Regulations Section 1.860E-1(c)(6)(i), in a transaction that satisfies the requirements of Section
1.860E-1(c)(4)(i), (ii) and (iii) and Section 1.860E-1(c)(5) of the U.S. Treasury Regulations; and

 

		(iv)	the Purchaser determined the consideration paid to it to acquire the Class [R][LR] Certificate based
on reasonable market assumptions (including, but not limited to, borrowing and investment rates, prepayment and loss assumptions,
expense and reinvestment assumptions, tax rates and other factors specific to the Purchaser) that it has determined in good faith.

 

☐
     None of the above.

 

Capitalized terms used but not
defined herein have the respective meanings ascribed to such terms in the Trust and Servicing Agreement.

 

IN WITNESS WHEREOF, the Purchaser
has caused this instrument to be executed on its behalf by its __________ this day of __________, __________.

 

	 	[The Purchaser]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    	 	 C-1-3	 

     

    

 

Personally appeared before me
the above named [_____], known or proved to me to be the same person who executed the foregoing instrument and to be the of the
Purchaser, and acknowledged to me that he/she executed the same as his/her free act and deed and the free act and deed of the Purchaser.

 

Subscribed and sworn before me
this ___ day of ___________, 20 ___.

 

	 	 	 
	NOTARY PUBLIC	 	 

 

	COUNTY OF	 	 

 

	STATE OF	 	 

  

My commission expires the ____ day of ________,
20 ____.

 

    	 	 C-1-4	 

     

    

 

EXHIBIT C-2

 

FORM OF TRANSFEROR CERTIFICATE

 

[Date]

 

Deutsche Bank Trust Company Americas 

c/o DB Services Americas, Inc. 

5022 Gate Parkway, Suite 200 

Jacksonville, Florida 32256 

Attention: Transfer Group

 

		Re:	DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class [R][LR]

 

Ladies and Gentlemen:

 

[Transferor] has reviewed
the attached affidavit of [Transferee], and has no actual knowledge that such affidavit is not true or that [Transferee] is not
a Permitted Transferee (as defined in the Trust and Servicing Agreement defined in the attached affidavit) and has no actual knowledge
or reason to know that the information contained in the attached affidavit is not true. No purpose of [Transferor]’s transfer
of the Class [R][LR] Certificate[s] to [Transferee] is or will be to impede the assessment of any tax.

 

	 	Very truly yours,
	 	 
	 	[Transferor]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    	 	 C-2-1	 

     

    

 

EXHIBIT D-1

 

FORM OF INVESTMENT REPRESENTATION LETTER

  

Deutsche Bank Trust Company Americas 

c/o DB Services Americas, Inc. 

5022 Gate Parkway, Suite 200 

Jacksonville, Florida 32256 

Attention: Transfer Group

 

Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan

 

		Re:	Transfer of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates: Class
[__]

 

Ladies and Gentlemen:

 

This letter is delivered pursuant
to Section 5.02 of the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”),
entered into in connection with the DBJPM 2016-SFC securitization transaction and the issuance of DBJPM 2016-SFC Mortgage Trust
Commercial Mortgage Pass-Through Certificates (the “Certificates”) in connection with the transfer by [_______]
(the “Seller”) to the undersigned (the “Purchaser”) of [$_____ aggregate [Certificate Balance][_____%
Percentage Interest]] of Class [__] Certificates, in certificated fully registered form (such registered interest, the “Certificate”).
Capitalized terms used but not defined herein have the respective meanings set forth in the Trust and Servicing Agreement.

 

In connection with such transfer,
the undersigned hereby represents and warrants to you as follows:

 

[For Institutional Accredited
Investors only]

 

		(i)	The Purchaser is an “institutional accredited investor” (i.e., an entity meeting
the requirements of Rule 501(a)(1), (2), (3) or (7) of Regulation D promulgated under the Securities Act of 1933, as amended (the
“Securities Act”), or an entity in which all of the equity owners are institutional investors that are an “accredited
investor” meeting the requirements of Rule 501(a)(1), (2), (3) or (7) of Regulation D promulgated under the Securities Act)
and has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of
the investment in the Certificate, and the Purchaser and any accounts for which the Purchaser is acting are each able to bear the
economic risk of our or its investment. The Purchaser is acquiring the Certificate for its own account or for one or more accounts
(each of which is an “institutional accredited investor”) as to each of which the Purchaser exercises sole investment
discretion. The Purchaser hereby undertakes to reimburse the Trust for any costs incurred by it in connection with this transfer.

 

    D-1-1

     

    

 

[For Qualified Institutional
Buyers only]

 

		(i)	The Purchaser is a “qualified institutional buyer” within the meaning of Rule 144A (“Rule
144A”) promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The Purchaser
is aware that the transfer is being made in reliance on Rule 144A, and the Purchaser has had the opportunity to obtain the information
required to be provided pursuant to paragraph (d)(4)(i) of Rule 144A.

 

		(ii)	The Purchaser’s intention is to acquire the certificate (A) for investment for the Purchaser’s
own account or (B) for resale to (1) “qualified institutional buyers” in transactions under Rule 144A, (2) “institutional
accredited investors” meeting the requirements of Rule 501(a)(1), (2), (3) or (7) of Regulation D promulgated under the Securities
Act of 1933, as amended (the “Securities Act”), or an entity in which all of the equity owners are institutional
investors that are an “accredited investor” meeting the requirements of Rule 501(a)(1), (2), (3) or (7) of Regulation
D promulgated under the Securities Act, or (3) pursuant to any other exemption from the registration requirements of the Securities
Act, subject in the case of this clause (ii) to (a) the receipt by the Certificate Registrar of a letter substantially in the form
hereof, (b) in the case of a transfer to an Affiliated Person, the receipt by the Certificate Registrar of an opinion of counsel
acceptable to the Certificate Registrar that such reoffer, resale, pledge or other transfer is in compliance with the Securities
Act, (c) the receipt by the Certificate Registrar of such other evidence acceptable to the Certificate Registrar that such reoffer,
resale, pledge or other transfer is in compliance with the Securities Act and other applicable laws (including applicable state
and foreign securities laws), and (d) a written undertaking to reimburse the Trust for any costs incurred by it in connection with
the proposed transfer. It understands that the Certificate (and any subsequent Individual Certificate) has not been registered
under the Securities Act, by reason of a specified exemption from the registration provisions of the Securities Act which depends
upon, among other things, the bona fide nature of the Purchaser’s investment intent (or intent to resell to only certain
investors in certain exempted transactions) as expressed herein.

 

		(iii)	The Purchaser acknowledges that the Certificate (and any Certificate issued on transfer or exchange
thereof) has not been registered or qualified under the Securities Act or the securities laws of any State or any other jurisdiction,
and that the Certificate cannot be reoffered, resold, pledged or otherwise transferred unless it is registered or qualified thereunder
or unless an exemption from such registration or qualification is available.

 

		(iv)	The Purchaser has reviewed the applicable Offering Circular dated July 20, 2016, relating to the Certificates
(the “Offering Circular”) and the agreements and other materials referred to therein and has had the opportunity
to ask questions and receive answers concerning the terms and conditions of the transactions contemplated by the Offering Circular.

 

		(v)	The Purchaser hereby undertakes to be bound by the terms and conditions of the Trust and Servicing
Agreement in its capacity as an owner of an Individual Certificate or Certificates, as the case may be (each, a “Certificateholder”),
in all respects as if it 

 

    D-1-2

     

    

 

	 	 	were a signatory thereto. This undertaking is made for the benefit of the Trust, the Trustee, the Certificate
Administrator, the Certificate Registrar and all Certificateholders present and future.

 

		(vi)	The Purchaser will not sell or otherwise transfer any portion of the Certificate, except in compliance
with Section 5.02 of the Trust and Servicing Agreement.

 

		(vii)	Check one of the following:

 

☐     The Purchaser is a “U.S.
Person” and it has attached hereto an Internal Revenue Service (“IRS”) Form W-9 (or successor form).

 

☐     The Purchaser is not a
“U.S. Person” and under applicable law in effect on the date hereof, no taxes will be required to be withheld by the
Certificate Registrar (or its agent) with respect to Distributions to be made on the Certificate(s). The Purchaser has attached
hereto [(i) in the case of an individual, a duly executed IRS Form W-8BEN (or successor form), which identifies such Purchaser
as the beneficial owner of the Certificate(s) and states that such Purchaser is not a U.S. Person, (ii) in the case of an entity,
a duly executed IRS Form W-8BEN-E (or successor form), which identifies such Purchaser as the beneficial owner of the certificate(s)
and states that such Purchaser is not a U.S. Person, (iii) two duly executed copies of IRS Form W-8IMY (and all appropriate attachment
or (iv)]* two duly executed copies of IRS Form W-8ECI (or successor form), which identify such Purchaser as the beneficial owner
of the Certificate(s) and state that interest and original issue discount on the U.S. Securities is, or is expected to be, effectively
connected with a U.S. trade or business. The Purchaser agrees to provide to the Certificate Registrar updated [IRS Forms W-8BEN,
IRS Forms, W-8BEN-E, IRS Forms W-8IMY or]* IRS Forms W-8ECI[, as the case may be]*, any applicable successor IRS forms, or such
other certifications as the Certificate Registrar may reasonably request, on or before the date that any such IRS form or certification
expires or becomes obsolete, or promptly after the occurrence of any event requiring a change in the most recent IRS form of certification
furnished by it to the Certificate Registrar.

 

For purposes of this paragraph
(vii), “U.S. Person” means a citizen or resident of the United States, a corporation, partnership (except to the extent
provided in applicable Treasury Regulations), or other entity 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, 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, certain trusts in existence on August 20, 1996 that have elected to be treated as U.S. Persons).

 

Please make all payments due
on the Certificates:**

 

(a) by wire transfer
to the following account at a bank or entity in New York, New York, having appropriate facilities therefor:

 

    D-1-3

     

    

 

	 	 	 	 	 	 
	 	Account number:	 	 	 
	 	 	 	 	 
	 	Institution:	 	 	 	 
	 	 	 	 	 	 
	 	(b) by mailing a check or draft to the following address:	 

 

	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

  

	 	 	 
	 	Very truly yours,
	 	 
	 	[The Purchaser]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: ________________, 20___

 

 

		*	Delete
                                         for Class R and Class LR.

 

		**	Only
                                         to be filled out by Purchasers of Individual Certificates. Please select (a) or (b).

 

    D-1-4

     

    

 

EXHIBIT D-2

 

FORM OF ERISA REPRESENTATION LETTER

 

[Date]

 

Deutsche Bank Trust Company Americas

c/o DB Services Americas, Inc.

5022 Gate Parkway, Suite 200

Jacksonville, Florida 32256

Attention: Transfer Group

 

Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan

 

		Re:	DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through
Certificates, Class [ ]

 

Ladies and Gentlemen:

 

[_____] (the “Purchaser”)
intends to purchase from [______] (the “Seller”) [ ]% Percentage Interest of DBJPM 2016-SFC Mortgage Trust Commercial
Mortgage Pass-Through Certificates, Class [R][LR], CUSIP No. [_____] (the “Certificates”), issued pursuant to
the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”), entered
into in connection with the DBJPM 2016-SFC securitization transaction. Capitalized terms used but not defined herein have the respective
meanings set forth in the Trust and Servicing Agreement. The Purchaser hereby certifies, represents and warrants to, and covenants
with, the Depositor, the Certificate Administrator, the Certificate Registrar and the Trustee that:

 

The Purchaser is not and will
not become (a) an employee benefit plan or other retirement arrangement, including an individual retirement account or a Keogh
plan, which is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), Code Section
4975, a governmental plan, as defined in Section 3(32) of ERISA, or other plan subject to any federal, state or local law (“Similar
Law”) which is to a material extent similar to the foregoing provisions of ERISA or the Code (each, a “Plan”),
or (b) a collective investment fund in which such Plans are invested, an insurance company using assets of separate accounts or
general accounts which include assets of Plans (or which are deemed pursuant to ERISA or any Similar Law to include assets of Plans)
or other person acting on behalf of any such Plan or using the assets of any such Plan.

 

    D-2-1

     

    

 

IN WITNESS WHEREOF, the Purchaser
hereby executes this ERISA Representation Letter on this ___ day of __________, 20__.

	 	 	 
	 	Very truly yours,
	 	 
	 	[Purchaser]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    D-2-2

     

    

 

EXHIBIT E

 

FORM OF REQUEST FOR RELEASE

	Loan Information	 	 
	Name of Borrower:	 	
        S.F. Centre Limited Partnership
and Emporium Mall LLC

	[Master
Servicer] [Special	 	

	 Servicer] Loan No.:	 	 
	Custodian	 	 
	Name: 	 	Deutsche Bank Trust Company Americas
	 	 	 
	Address: 	 	
        Deutsche Bank Trust Company
Americas 

        1761 East St. Andrew Place 

        Santa Ana, California 92705 

        Attention: Trust Administration
– DB16SF 

	Custodian Mortgage File No.:	 	

	Depositor	 	 
	Name: 	 	Deutsche Mortgage & Asset Receiving Corporation
	Address: 	 	Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005
	Certificates:	 	DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

The undersigned [Master
Servicer][Special Servicer] hereby requests delivery from Deutsche Bank Trust Company Americas, as Custodian for the Holders of
DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates, the documents (the “Documents”) specified
below. All capitalized terms not otherwise defined in this Request for Release shall have the meanings given them in the Trust
and Servicing Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”) and executed in connection
with the DBJPM 2016-SFC securitization transaction.

 

		(  )	  

 

		(  )	  

  

		(  )	  

  

		(  )	  

 

    E-1

     

    

  

The undersigned [Master
Servicer][Special Servicer] hereby acknowledges and agrees as follows:

 

(i)          The [Master
Servicer][Special Servicer] shall hold and retain possession of the Documents in trust for the benefit of the Trustee, solely for
the purposes provided in the Trust and Servicing Agreement.

 

(ii)         The [Master
Servicer][Special Servicer] shall not cause or permit the Documents to become subject to, or encumbered by, any claim, liens, security
interest, charges, writs of attachment or other impositions nor shall the [Master Servicer][Special Servicer] assert or seek to
assert any claims or rights of set-off to or against the Documents or any proceeds thereof except as otherwise provided in the
Trust and Servicing Agreement.

 

(iii)        The [Master
Servicer][Special Servicer] shall return the Documents to the Custodian when the need therefor no longer exists, unless the Whole
Loan has been liquidated or the Whole Loan has been paid in full and the proceeds thereof have been remitted to the Collection
Account, except as expressly provided in the Trust and Servicing Agreement.

 

(iv)         The Documents
coming into the possession or control of the [Master Servicer][Special Servicer] shall at all times be held for the account of
the Trustee, and the [Master Servicer][Special Servicer] shall keep the Documents and any proceeds separate and distinct from all
other property in the [Master Servicer][Special Servicer]’s possession, custody or control.

	 	 	 
	 	[MASTER SERVICER/SPECIAL SERVICER]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

  

		Dated:	______________

 

    E-2

     

    

 

EXHIBIT F

 

SECURITIES LEGEND

 

THIS CERTIFICATE HAS NOT BEEN
AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “Securities
Act”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS
CERTIFICATE MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE Securities
Act AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER
THE Securities Act, (2) FOR SO LONG AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT
TO RULE 144A UNDER THE Securities Act (“RULE 144A”), TO AN INSTITUTIONAL
INVESTOR THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”) PURCHASING FOR ITS OWN ACCOUNT, OR A PERSON PURCHASING FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL
BUYER, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE
ON RULE 144A, (3) IN THE CASE OF THE REGULAR CERTIFICATES, TO AN INSTITUTIONAL INVESTOR THAT IS AN “ACCREDITED INVESTOR,”
AS SUCH TERM IS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE Securities
Act OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS” AS
SUCH TERM IS DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) IN THE CASE OF
THE REGULAR CERTIFICATES, TO AN INSTITUTION THAT IS A NON-“U.S. PERSON” IN AN “OFFSHORE TRANSACTION,” AS
SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH, RULE 903 OR RULE 904 OF, REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE
WITH ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS
CERTIFICATE, AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED
TO HAVE AGREED TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE TRUST AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO
REQUIRED TO DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE TRUST AND SERVICING AGREEMENT
IF SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.

 

    F-1

     

    

 

EXHIBIT G

 

FORM OF REGULATION S TRANSFER CERTIFICATE

Deutsche Bank Trust Company Americas 

c/o DB Services Americas, Inc. 

5022 Gate Parkway, Suite 200 

Jacksonville, Florida 32256 

Attention: Transfer Group

 

		Re:	Transfer of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage
Pass-Through Certificates, Class [ ]

 

Ladies and Gentlemen:

 

This certificate is delivered
pursuant to Section 5.02 of the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”)
and executed in connection with the DBJPM 2016-SFC securitization transaction, on behalf of the holders of the DBJPM 2016-SFC Mortgage
Trust Commercial Mortgage Pass-Through Certificates, Class [ ] (the “Certificates”) in connection with
the transfer by the undersigned (the “Transferor”) to [_____] (the “Transferee”) of $[_____]
Certificate Balance of Certificates, in fully registered form (each, an “Individual Certificate”), or a beneficial
interest of such aggregate Certificate Balance in the Regulation S Global Certificate (the “Global Certificate”)
maintained by The Depository Trust Company or its successor as Depositary under the Trust and Servicing Agreement (such transferred
interest, in either form, being the “Transferred Interest”).

 

In connection with such transfer,
the Transferor does hereby certify that such transfer has been effected in accordance with the transfer restrictions set forth
in the Trust and Servicing Agreement and the Certificates and (i) with respect to transfers made in accordance with Regulation
S (“Regulation S”) promulgated under the Securities Act of 1933, as amended (the “Securities Act”),
the Transferor does hereby certify that:

 

(1)          the offer of the Transferred
Interest was not made to a person in the United States;

 

[(2)         at the time the buy order
was originated, the Transferee was outside the United States or the Transferor and any person acting on its behalf reasonably believed
that the Transferee was outside the United States;]*

 

[(2)         the transaction was executed
in, on or through the facilities of a designated offshore securities market and neither there undersigned nor any person acting
on its behalf knows that the transaction was pre-arranged with a buyer in the United States;]*

 

(3)          no directed selling efforts
have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and

 

 

*Insert
one of these two provisions, which come from the definition of “offshore transaction” in Regulation S.  

 

    G-1

     

    

 

(4)          the transaction is not
part of a plan or scheme to evade the registration requirements of the Securities Act.

 

or (ii) with respect to transfers made in reliance
on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates that are being transferred are not
“restricted securities” as defined in Rule 144 under the Securities Act.

 

This certificate and the statements
contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the Trustee, the Master
Servicer and the Special Servicer.

	 	 	 
	 	[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: ________________, 20__

 

    G-2

     

    

 

EXHIBIT H

 

FORM OF TRANSFER CERTIFICATE

FOR EXCHANGE OR TRANSFER FROM RULE 144A

GLOBAL CERTIFICATE TO REGULATION S GLOBAL

CERTIFICATE DURING THE RESTRICTED PERIOD

 

(Exchanges or transfers pursuant to Section 5.02(c)(ii)(A)
of 

the Trust and Servicing Agreement)

 

Deutsche Bank Trust Company Americas 

c/o DB Services Americas, Inc. 

5022 Gate Parkway, Suite 200 

Jacksonville, Florida 32256 

Attention: Transfer Group

 

		Re:	Transfer of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage
Pass-Through Certificates, Class [ ]

 

Reference is hereby made to the
Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”) and executed
in connection with the DBJPM 2016-SFC securitization transaction. Capitalized terms used but not defined herein shall have the
meanings given to them in the Trust and Servicing Agreement.

 

This letter relates to US $[_____]
aggregate Certificate Balance of Certificates (the “Certificates”) which are held in the form of a Rule 144A
Global Certificate (CUSIP No. [_____]) with the Depository in the name of [insert name of transferor] (the “Transferor”).
The Transferor has requested a transfer of such beneficial interest for an interest in the Regulation S Global Certificate (CUSIP
No. [_____]) to be held with [Euroclear] [Clearstream]* (Common Code) through the Depositary.

 

In connection with such request
and in respect of such Certificates, the Transferor does hereby certify that such transfer has been effected in accordance with
the Transfer restrictions set forth in the Trust and Servicing Agreement and pursuant to and in accordance with Regulation S under
the Securities Act of 1933, as amended (the “Securities Act”), and accordingly the Transferor does hereby certify
that:

 

(1)          the offer of the Certificates
was not made to a person in the United States,

 

[(2)        at the time the buy order
was originated, the transferee was outside the United States or the Transferor and any persons acting on its behalf reasonably
believed that the Transferee was outside the United States,]**

 

 

 

		*	Select
                                         appropriate depository.

 

		**	Insert
                                         one of these two provisions, which come from the definition of “offshore transaction”
                                         in Regulation S.

 

    H-1

     

    

 

[(2)         the transaction was executed
in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person acting on
its behalf knows that the transaction was pre-arranged with a buyer in the United States,]*

 

(3)          no directed selling efforts
have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

 

(4)          the transaction is not
part of a plan or scheme to evade the registration requirements of the Securities Act.

 

This certificate and the statements
contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the Trustee, the Master
Servicer and the Special Servicer. 

	 	 	 
	 	[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: ________________, 20__

 

    H-2

     

    

 

EXHIBIT I

 

FORM OF TRANSFER CERTIFICATE

FOR EXCHANGE OR TRANSFER FROM RULE 144A

GLOBAL CERTIFICATE TO REGULATION S GLOBAL

CERTIFICATE AFTER THE RESTRICTED PERIOD

 

(Exchange or transfers pursuant to

Section 5.02(c)(ii)(B) of the Trust and Servicing Agreement)

 

Deutsche Bank Trust Company Americas 

c/o DB Services Americas, Inc. 

5022 Gate Parkway, Suite 200 

Jacksonville, Florida 32256 

Attention: Transfer Group

 

		Re:	Transfer of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage
Pass-Through Certificates Class [ ]

 

Reference is hereby made to the
Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”) and executed
in connection with the DBJPM 2016-SFC securitization transaction. Capitalized terms used but not defined herein shall have the
meanings given to them in the Trust and Servicing Agreement.

 

The letter relates to U.S. $[_____]
aggregate Certificate Balance of Certificates (the “Certificates”) which are held in the form of the Rule 144A
Global Certificate (CUSIP No. [_____]) with the Depository in the name of [insert name of transferor] (the “Transferor”).
The Transferor has requested a transfer of such beneficial interest in the Certificates for an interest in the Regulation S Global
Certificate (Common Code No. [_____]).

 

In connection with such request,
and in respect of such Certificates, the Transferor does hereby certify that such transfer has been effected in accordance with
the transfer restrictions set forth in the Trust and Servicing Agreement and, (i) with respect to transfers made in reliance on
Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), the Transferor does hereby
certify that:

 

(1)          the offer of the Certificates
was not made to a person in the United States,

 

[(2)         at the time the buy order
was originated, the transferee was outside the United States or the Transferor and any person acting on its behalf reasonably believed
that the transferee was outside the United States,]*

 

[(2)         the transaction was executed
in, on or through the facilities of a designated offshore securities market and neither the Transferor nor any person acting on
its behalf knows that the transaction was pre-arranged with a buyer in the United States,]*

 

 

*Insert
one of these two provisions, which come from the definition of “offshore transaction” in Regulation S.
 

 

    I-1

     

    

 

(3)          no directed selling efforts
have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable, and

 

(4)          the transaction is not
part of a plan or scheme to evade the registration requirements of the Securities Act;

 

or (ii) with respect to transfers made in reliance
on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates that are being transferred are not
“restricted securities” as defined in Rule 144 under the Securities Act.

 

This certificate and the statements
contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the Trustee, the Master
Servicer and the Special Servicer.

	 	 	 
	 	[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: _______________, 20___

 

    I-2

     

    

 

EXHIBIT J

 

FORM OF TRANSFER CERTIFICATE

FOR EXCHANGE OR TRANSFER FROM REGULATION S GLOBAL

CERTIFICATE TO RULE 144A GLOBAL CERTIFICATE

 

(Exchange or transfers pursuant to Section 5.02(c)(ii)(C)

of the Trust and Servicing Agreement)

 

Deutsche Bank Trust Company Americas 

c/o DB Services Americas, Inc. 

5022 Gate Parkway, Suite 200 

Jacksonville, Florida 32256 

Attention: Transfer Group

 

		Re:	Transfer of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage
Pass-Through Certificates, Class [ ]

 

Reference is hereby made to the
Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”) and executed
in connection with the DBJPM 2016-SFC securitization transaction. Capitalized terms used but not defined herein shall have the
meanings given to them in the Trust and Servicing Agreement.

 

This letter relates to U.S. $[_____]
aggregate Certificate Balance of Certificates (the “Certificates”) which are held in the form of the Regulation
S Global Certificate (CUSIP No. [_____]) with [Euroclear] [Clearstream]* (Common Code [_____]) through the Depository
in the name of [insert name of transferor] (the “Transferor”). The Transferor has requested a transfer of such
beneficial interest in the Certificates for an interest in the Regulation 144A Global Certificate (CUSIP No. [_____]).

 

In connection with such request,
and in respect of such Certificates, the Transferor does hereby certify that such Certificates are being transferred in accordance
with (i) the transfer restrictions set forth in the Trust and Servicing Agreement and (ii) Rule 144A under the Securities Act to
a transferee that the Transferor reasonably believes is purchasing the Certificates for its own account with respect to which the
transferee exercises sole investment discretion and the transferee and any such account is “qualified institutional buyer”
within the meaning of Rule 144A, in each case in a transaction meeting the requirements of Rule 144A and in accordance with any
applicable securities laws of any state of the United States or an jurisdiction.

 

 

 

		*	Select
                                         appropriate depositary.

 

    J-1

     

    

 

This certificate and the statements
contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the Trustee, the Master
Servicer and the Special Servicer.

	 	 	 
	 	[Insert Name of Transferor]
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: ______________, 20__

 

    J-2

     

    

 

EXHIBIT K

 

FORM OF DISTRIBUTION DATE STATEMENT

 

    K-1

     

    

 

	 	 	 	 
		 	 	COMM 2016-SFC Mortgage Trust
	 	 	 

        COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

	 	 	

    September 12, 2016

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	  1761 E. St. Andrew
    Place	 	 	Table
    of Contents
	  Santa Ana, CA 92705	 	 	 	 	 	 	 	 	 	 
	 	 	 	Certificate Payment Report	2	 	 	Loan Level Detail	17
	  Website:	 	 	Certificate Factor Report	3	 	 	Specially Serviced Loan Detail	18
	  https://tss.sfs.db.com/investpublic	 	 	Cash Reconciliation	4	 	 	Specially Serviced Loan Comments	19
	 	 	 	Other Related Information	5	 	 	Appraisal Reduction Detail	20
	  Associated Files	 	 	Pool and Performance Detail	6	 	 	Appraisal Reduction Comments	21
	Supplements	 	 	Bond Interest Reconciliation	7	 	 	Modifications/Extensions Detail/Description	22
	Pool
    Periodic	 	 	Bond Reconciliation Detail	8	 	 	Material Breaches and Document Defects	23
	Bond
    Periodic	 	 	Current Ratings	9	 	 	Property Detail (Default/Transfer)	24
	Loan
    Periodic	 	 	Performance History	10	 	 	Extraordinary Event	25
	Loan
    Setup	 	 	Delinquency Detail	11	 	 		
	Governing
    Documents	 	 	Payoff
History	12	 	 		
	Annex
    A	 	 	Defeased Loan Level
    Detail	13	 	 		
	 	 	 	REO Historical
    Detail	14	 	 	 	 
	 	 	 	Historical Bond/Collateral Loss Reconciliation	15	 	 	 	 
	  Factor Information:	 	 	Historical Loss Liquidation	16	 	 	 	 
	(800)
    735-7777	 	 	 	 	 	 	 	 
	 	 	 	Contacts	 	 	Dates
	  Main
    Phone Number:	 	 	 	 	 	 	 	 
	714-247-6000	 	 	Depositor	Deutsche Mortgage & Asset Receiving
    Corporation	 	 	Current Distribution Date	09/12/2016     
	 	 	 	Master Servicer	Wells Fargo Bank, National Association	 	 	Distribution Count	1     
	 	 	 	Special Servicer	Pacific Life Insurance Company	 	 	 	 
	 	 	 	Underwriters	Deutsche Bank Securities Inc.	 	 	Prior Distribution Date	N/A     
	Administrator	 	 	 	J.P. Morgan Securities LLC	 	 	Next Distribution Date	10/12/2016     
	 	 	 	Rating Agencies	Standard & Poor’s Ratings Services	 	 	Trust Collection Period	08/02/2016     to     09/06/2016     
	 	 	 	 	Kroll Bond Rating Agency, Inc.	 	 	 	 
	 	 	 	Trustee	Wilmington Trust, National Association	 	 	Record Date	08/31/2016     
	 	 	 	Certificate Administrator	Deutsche Bank Trust Company Americas	 	 	Determination Date	09/06/2016     
	 	 	 	Controlling Class	Prima Capital Advisors LLC/Class D	 	 	 	 
	 	 	 	 		 	 	Cutoff Date	08/01/2016     
	 	 	 			 	 	Closing Date	08/04/2016     
	 	 	 			 	 	Initial Distribution Date	09/12/2016     
	 	 	 			 	 	Rated Final Payment Date	08/12/2036     
	 	 	 			 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	In
    connection with the Certificate Administrator’s preparation of this Statement to Certificateholders, the Certificate
    Administrator is conclusively relying upon, and has not independently verified, information provided to it by various third
    parties, including the Master Servicer, Special Servicer and other parties to the transaction. The Certificate Administrator
    makes no representations as to the completeness, reliability, accuracy or suitability for any purpose of the information provided
    to it by such third parties.
	 	 	 	 	 	 	 	 	 	 
	Page 1 of 25	 	 	

 

     

     

    

 

	 	 	 	 
	COMM 2016-SFC Mortgage Trust	 	
	 

                    COMM 2016-SFC Mortgage Trust Commercial
    Mortgage Pass-Through Certificates

	 

                                               September 12, 2016
	 	 	 
	 	 	 
	Certificate Payment
    Report	 	 
	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Balance
    and Principal Components	 	Interest	 	Pass-Through
    Rate	 	Credit
    Support	 
	 	 	 	 	 	 	 	 	Original	 	Beginning	 	Principal	 	Non-Prin
    Adj/	 	Ending	 	Interest	 	Excess/	 	Current	 	Next	 	Original	 	Current	 
	 	Class	 	Class
    Type	 	CUSIP	 	 	Balance	 	Balance	 	 	 	Loss/Accretion	 	Balance	 	Distributed	 	Shortfall	 	 	 	 	 	%	 	%	 
	 	A	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	X-A	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	B	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	C	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	D	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	R	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	LR	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	SubTotal	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 		 	 
	 	Total	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 
	Page 2 of 25	

 

     

     

    

 

	 	 	 	 
	COMM 2016-SFC Mortgage Trust	 	
	 

                    COMM 2016-SFC Mortgage Trust Commercial
    Mortgage Pass-Through Certificates

	 

                                               September 12, 2016
	 	 	 
	 	 	 
	Certificate Factor
    Report	 	 
	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Accrual	 	Balance
    Factors	 	Payment
    Factors	 
	 	Class	 	Cusip	 	Start

        Date
	 	End

        Date
	 	Methodology	 	 	Original

        Balance
	 	Beginning

        Balance
	 	Ending

        Balance
	 	 	Interest

        Distributed
	 	Principal

        Distributed
	 	Total

        Distributed
	 
	 	A	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	X-A	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	B	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	C	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	D	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	R	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	LR	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 
	Page 3 of 25	

 

     

     

    
 

	 	 	 	 
	COMM 2016-SFC Mortgage Trust	 	
	 

                    COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

	 

                                               September 12, 2016
	 	 	 
	 	 	 
	Cash Reconciliation	 	 
	 	 	 

	 	 	 	 	 	 
	Servicer
    Remittance Non-Adjusted	 	Adjustments	 	Trust	 
	Principal	 	Principal	 	Trust
    Related Fees & Expenses	 
	A. Scheduled Principal	 	A. Excess Amounts	 	Trustee
    Fee	 
	Current
    Principal	 	Subsequent
    Recovery	 	Certificate
    Administrator Fee	 
	Advanced
    Principal	 	Gain-on-Sale	 	Trustee
    Fee Strips	 
	Scheduled
    Maturity Payoff	 	 	 	CREFC®
    License Fee	 
	 	 	B. Shortfalls Amounts.	 	Collateral Administrator Fee	 
	B Unscheduled Principal	 	Realized
    Loss	 	Trust
    Expense(s)	 
	Voluntary	 	Additional
    Loss Claim	 	Guarantee
    Fee	 
	Post-Maturity	 	 	 	Unreimbursed
    Indemnification Expense	 
	Liquidation	 	Net Excess/Shortfall	 	Trust Related Fees & Expenses	 
	Curtailment	 	 	 	 	 
	Defeasance	 	Interest	 	 	 
	Neg
    Am/Deferred	 	A. Excesses	 	Sister Agreements	 
	 	 	Penalties/Yield
    Maintain/Exit	 	 	 
	Principal Non-Adjusted	 	Extension
    Interest (ARD)	 	 	 
	 	 	Default
    Interest	 	 	 
	 	 	Prepay
    Interest Excess (PPIE)	 	 	 
	Interest	 	Interest
    Recovery	 	 	 
	A. Scheduled Interest	 	ASER
    Recovered	 	 	 
	Current
    Interest	 	Other
    Interest Proceeds	 	Interest Reserve Account	 
	Delinquent
    Interest	 	 	 	Deposit	 
	 	 	B. Shortfalls	 	Cumulative Deposit	 
	B Servicing Fees & Expenses	 	Gross
    PPIS (Prepay Interest Shortfall)	 	Withdrawal	 
	Current
    Servicer Fees	 	Servicer
    PPIS Cap	 	 	 
	Delinquent
    Servicer Fees	 	Net
    PPIS	 	Summary	 
	Sub-Servicer	 	Deferred
    Interest	 	Principal
    Adjusted	 
	Servicer
    Fee Strips	 	Modification
    Shortfall	 	Scheduled
    Interest	 
	Other
    Fee Strips (incl. Insurer)	 	ASER
    Applied	 	Servicer
    Fee & Expense	 
	Miscellaneous
    Fees	 	Special
    Servicer Fees	 	Interest
    Shortfall Expense	 
	Servicer Fees/Expenses	 	Workout
    Fees	 	Servicer
    Wire	 
	Interest Non-Adjusted	 	Liquidation
    Fees	 	Trustee
    Fee & Expense	 
	Principal & Interest Non-Adjusted	 	Non-Recoverable
    Advances	 	Sister
    Agreements	 
	 	 	Interest
    on Prior Advances	 	Interest
    Reserve Account	 
	 	 	Various
    Expenses	 	Due
    to Certificates	 
	 	 	Other
    Interest Loss	 	 	 
	 	 	Net
    Excess/Shortfall	 	 	 
	 	 	Workout
    - Delayed Reimbursement Amount	 	 	 

	 	 
	Page 4 of 25	

 

     

     

    

 

	 	 	 	 
	COMM 2016-SFC Mortgage Trust	 	
	 

                    COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

	 

                                               September 12, 2016
	 	 	 
	 	 	 	 
	Other
    Related Information	 	 	 

	 	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	Disclosable Special Servicer
    Fees*	 	 
	 	 	 	 	 
	 	 	Commissions	 	 
	 	 	Brokerage fees	 	 
	 	 	Commissions	 	 
	 	 	Other	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	*Fee-sharing arrangement	 	 
	 	 	 	 	 

	 	 
	Page 5 of 25	

 

     

     

    

 

	 	 	 	 
	COMM 2016-SFC Mortgage Trust	 	
	 

                    COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

	 

                                               September 12, 2016
	 	 	 
	 	 	 	 
	Pool
    and Performance Detail	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 
	Pool
    Detail	 	WA
    Rates/Terms
	 	 	 	 	 	 	 	 	 	 	 	 
	Current	 	Amt	%	Cnt	%	 	 	Cutoff	Prior	Current	Next
	 	 	 	 	 	 	 	 	 	 	 	 
	Amortizing/Balloon	 	 	 	 	 	 	WAC	 	 	 	 
	IO/Amortizing/Balloon	 	 	 	 	 	 	WAMM	 	 	 	 
	IO/Balloon	 	 	 	 	 	 	AWAM	 	 	 	 
	 	 	 	 	 	 	 		 	 	 	 
	Smallest Balance	 	 	 	 	 	 	 	 	 	 	 
	Average Balance	 	 	 	 	 	 	 	 	 	 	 
	Largest Balance	 	 	 	 	 	 	Performance
    Snapshot

	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	3
    Mo Avg	 	6
    Mo Avg	 	12
    Mo Avg
	Current	 	 	Current	%
    Bal	%
    Cnt	 	%
    Bal	%
    Cnt	 	%
    Bal	%
    Cnt
	Beginning Balance	 	 	Current	 	 	 	 	 	 	 	 
	Scheduled
    Principal	 	 	30 Day	 	 	 	 	 	 	 	 
	Voluntary
    Payoff	 	 	60 Day	 	 	 	 	 	 	 	 
	Scheduled
    Maturity Payoff	 	90 Day Plus	 	 	 	 	 	 	 	 
	Post-Maturity
    Payoff	 	 	Foreclosures	 	 	 	 	 	 	 	 
	Net
    Liquidation	 	 	REOs	 	 	 	 	 	 	 	 
	Realized
    Loss	 	 	Bankruptcies	 	 	 	 	 	 	 	 
	Curtailment	 	 	Liquidations	 	 	 	 	 	 	 	 
	Negative
    Amortization/Deferred	 	Modifications	 	 	 	 	 	 	 	 
	Ending Balance	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Advance
    Summary

	 	 	 	 	 	 	 	 	 	 	 
	Cumulative	 	 	Cumulative	Principal	 	Interest	 	Cnt	% Amt	% Cnt
	 	 	 	Prior Outstanding	 	 	 	 	 	 	 
	Scheduled
    Principal	 	 	Current
    Amount	 	 	 	 	 	 	 
	Voluntary
    Payoff	 	 	Recovery
    (-)	 	 	 	 	 	 	 
	Scheduled
    Maturity Payoff	 	Current
    Outstanding	 	 	 	 	 	 	 
	Post-Maturity
    Payoff	 	 	Non-Recoverable	 	 	 	 	 	 	 
	Net
    Liquidation	 	 	 	 	 	 	 	 	 	 
	Realized
    Loss	 	 	Appraisal
    Reduction Summary
	Curtailment	 	 	Prior Cumulative ASER	 	 	 	 	 	 	 
	Negative Amortization/Deferred	 	 	Current ASER	 	 	 	 	 	 	 
	 	 	Recovery (-)	 	 	 	 	 	 	 
	 	 	 	Cumulative ASER	 	 	 	 	 	 	 
	 	 	 	(*) ARA   Appraisal Reduction Amount	 	(*) ASER   Appraisal Subordination Entitlement

	 	 
	Page 6 of 25	

 

     

     

    

 

	 	 	 	 
	COMM 2016-SFC Mortgage Trust	 	
	 

                    COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

	 

                                               September 12, 2016
	 	 	 

	 	 
	Bond
    Interest Reconciliation	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Accrual	 	 	 	 	 	 	 	 	 	 
	Class	Prior
    Due	Curr
    Due	Method
    Days	 	Beginning

    Balance	Pass-Through

    Rate	Prior

    Shortfall	Current

    Accrued	Current

    Additions	Current

    Deductions	Distributable

    Interest	Distributed

    Interest	Outstanding

    Shortfall
	A
 

                                                                                X-A

                                                                                B
 C
 D
 R
 LR  
  

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                 

                                                                                
  
  
  
  
  
  
  
  
  
  
  
  
  
  
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	SubTotal	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 
	Page 7 of 25	

 

     

     

    

 

	 	 	 	 
	COMM 2016-SFC Mortgage Trust	 	
	 

                    COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

	 

                                               September 12, 2016
	 	 	 

	 	 
	Bond
    Reconciliation Detail	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Principal
    Components	 	Interest
    Additions	 	Interest
    Deductions
	Class	Scheduled	Unscheduled	Current

    Loss	Cumulative

    Loss	 	PPY, PPYYM,

    Exit Fees	Interest

    Adjustment	Interest
    on Prior

    Shortfall	Interest
    on Prior

    Loss 	 	Net

    PPIS	Deferred

    Accretion	Interest
    Loss

    Expense
	A
 X-A
 B
 C
 D
 R
 LR

                                                                               

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                              

                                                                             
  
  
  
  
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	SubTotal 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 		 	 	 	 	 	 	 	 	 	 	 	 
	  Total	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 
	Page 8 of 25	

 

     

     

    

 

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage
    Trust Commercial Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 
	 	 
	 	 

	 	 
	Current Ratings	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Closing
    Ratings	 	Updated
    Ratings (1)
	 	Class	 	 	 	 	 	 	 	 	 	Fitch	 	Moody’s	 	S
    & P	 	Morningstar	 	DBRS	 	Kroll
	Class	Type	CUSIP	 	Fitch	  Moody’s  	S
    & P  	Morningstar  	DBRS  	Kroll	 	Rating 	Eff
    Date	 	Rating	  Eff
    Date  	 	Rating	  Eff
    Date  	 	Rating	  Eff
    Date  	 	Rating	  Eff
    Date  	 	Rating	  Eff
    Date  
	  A	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  X-A	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  B	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  C	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  D	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  R	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  LR	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 
	Contact
    Information	 	Fitch
    Ratings, Inc.	Moody’s
    Investors Service, Inc.  	Standard
    & Poor’s Rating Service  	Morningstar
    Credit Ratings, LLC  	DBRS,
    Inc.	Kroll
    Bond Rating Agency, Inc.
	 	 	33 Whitehall Street	7 World Trade Center	55 Water Street	410 Horsham Road Suite A	333 West Wacker Drive,  	845 Third Avenue, 4th Floor
	 	 	New York, New York, 10004  	New York, NY 10007	New York, New York 10041	Horsham, PA 19044	Suite 1800	New York, NY 10022
	 	 	(212) 908-0500	(212) 553-0300	(212) 438-2430	(267) 960-6014	Chicago, Illinois 60606	(212) 702-0707
	 	 	 	 	 	 	(312) 332-3429	 

	 	 	 
	Legend	 	 
	NR     Class not rated at issuance	 	(1) These ratings are not a recommendation to buy, sell or hold these
    notes. Ratings may be changed or withdrawn at any time by each assigning rating agency.
	NA     Data not available	 	These ratings do not address the possibility that, as a result of
    principal prepayments or losses, the yield on your notes may be lower than anticipated.
	 	 	 
	 	 	Changed ratings provided on this report are based on information
    provided by the applicable rating agency via electronic transmission and captured during the processing window.
	 	 	Deutsche Bank does not hold itself responsible for any update that
    may have occurred outside the window during which the data was captured.

 

	Page 9 of 25	

 

     

     

    

 

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 
	 	 
	 	 

	 	 
	Performance History	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Delinquency
    Categories	 	 	 	Impaired
    Loans	 	Unique
    Events
	Dist Date	 	30
    Day	60
    Day	90
    Day	120+
    Day	 	Foreclosure	REO	Bankruptcy	Curr
    FC not SS/REO	 	Modification	Specially
    Serviced
	Dist Cnt	 	Cnt	Bal	Cnt	Bal	Cnt	Bal	Cnt	Bal	 	Cnt	Bal	Cnt	Bal	Cnt	Bal	Cnt	Bal	 	Cnt	Bal	Cnt	Bal
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

	Page 10 of 25	

 

     

     

    

 

	 	 	 	 
	COMM 2016-SFC Mortgage Trust	 	
	 	 	 
	COMM 2016-SFC Mortgage Trust Commercial
    Mortgage Pass-Through Certificates
	 	 	 	 
	September 12, 2016	 	 	 
	 	 	 
	Delinquency Detail	 	 
	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	P&I
    Advances	 	Non-Advancing	 	Tracking	 	Status/Resolution
    w Relevant Dates	 	Loan
    Description
	 	 	 	 	 	Prior
    Outstanding	 	Current
    Outstanding	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	SS
    Tran

    Date	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Investor

      No.	 	PTD	 	 	Interest	 	Principal	 	 	Interest	 	Principal	 	 	ASER	 	Non-

    Recoverable	 	 	Mo
    (s)
 Delinq	 	Mo
    (s)

    Recov	 	 	Loan

    Status	 	Resoln

    Strategy	 	 	 	ARA

    Date	 	FC/REO

    Date	 	BK

    Date	 	 	Prop

    Type	 	DSCR	 	LTV
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Property Type Code
	 	 	Resolution Strategy Code	 	Loan Status Code	 	 
	 	 	1	Modification	 	6	DPO	 	10	Deed in Lieu Of	 	0	Current	 	3	90 Days Delinquent	 	MF	Multi-Family	 	OF	Office
	 	 	2	Foreclosure	 	7	REO	 	 	Foreclosure	 	A	Grace	 	4	Matured Balloon	 	RT	Retail	 	MU	Mixed Use
	 	 	3	Bankruptcy	 	8	Resolved	 	11	Full Payoff	 	B	0 - 29 Days	 	7	Foreclosure	 	HC	Health Care	 	LO	Lodging
	 	 	4	Extension	 	9	Pending Return	 	12	Reps and Warranties	 	1	30 Days Delinquent	 	9	REO	 	IN	Industrial	 	SS	Self Storage
	 	 	5	Note Sale	 	 	to Master Servicer	 	13	Other or TBD	 	2	60 Days Delinquent	 	 	 	 	WH	Warehouse	 	OT	Other
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	MH	Mobile Home Park	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	Page 11 of 25	

 

     

     

    
 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial
    Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 

	 	 
	 	 
	Payoff History	 
	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Payoff
    Amount	 	Liquidation	 	Interest
    Additions/Deductions	 	Maturity
    (2)	 	Remaining
    Term
	Dist Date	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Dist Count	 	Count	Amount	 	Count	Liquidation	  Realized
    Loss  	Net Liquidation	 	Type	Penalty(1)	PPIS/PPIE	Other	 	Prior	  Schd  	Post	 	Life	Amort
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 
	Total	 	 	 	 	 	 	 
	 	(1) Penalty Type	 	 	(2) Maturity Var: Payoff to Maturity Date
    delta	 	 	 
	 	1     Prepay Penalties	 	 	 	 
	 	2     Yield Maintenance	 	 	 	 
	 	3     Exit Fees	 	 	 	 
	 	4     Yield Maintenance &
    Exit Fees	 	 	 	 

 

	Page 12 of 25	

 

     

     

    

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage
    Pass-Through Certificates
	 	 
	September 12, 2016	 

	 	 	 	 
	 	 	 	 
	Defeased Loan Level
    Detail	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Current
    P&I	 	Status	 	Static	 	Financial
	Investor	 	Principal
    Components	 	Interest	 	 	 	 	Prop	 	Amort	Cutoff	 	Most Recent	 	Cutoff
	No.	 	Beginning
    Bal	Principal	Ending
    Bal	 	Rate	Accrual	Interest	 	PTD	Code	 	Type	State	Type	Maturity	 	DSCR	LTV	OCC	NOI	 	DSCR	LTV	OCC
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

	 	Resolution
    Strategy Code	 	Loan
    Status Code	 	Property
    Type Code
	 	1	Modification	6	DPO	10	Deed in Lieu Of	 	0	Current	3	90 Days Delinquent	 	MF	Multi-Family	OF	Office
	 	2	Foreclosure	7	REO	 	Foreclosure	 	A	Grace	4	Matured Balloon	 	RT	Retail	MU 	Mixed Use
	 	3	Bankruptcy	8	Resolved	11	Full Payoff	 	B	0 - 29 Days	7	Foreclosure	 	HC	Health Care	LO	Lodging
	 	4	Extension	9	Pending Return	12	Reps and Warranties	 	1	30 Days Delinquent	9	REO	 	IN	Industrial	SS	Self Storage
	 	5	Note Sale	 	to Master Servicer	13	Other or TBD	 	2	60 Days Delinquent	 	 	 	WH	Warehouse	OT	Other
	 	 	 	 	 	 	 	 	 	 	 	 	 	MH	Mobile Home Park	 	 

 

	Page 13
    of 25	

     

     

    
 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage
    Pass-Through Certificates
	 	 
	September 12, 2016	 

	 	 	 	 
	 	 	 	 
	REO
    Historical Detail	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	REO	 	Balances	 	Appraisal Information	 	Static	 	Liquidation
    Detail
	 	Investor	 		 		 	Most Recent	 	Appraisal	 	Appraisal	 	 	Prop	 	 	 	Amort	 	Cutoff	 	Liquidation	 	Net Liquidation	 	Realized	 	 
	 	No.	 	Date	 	Type	 	Scheduled	 	Actual	 	Appraisal	 	Date	 	Redn
    Amt	DSCR	 	Type	 	State	 	Type	 	Maturity	 	Date	 	Proceeds	 	Loss	 	Type
	 	 	 	 	 	 	 	 

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	REO Type	 	 	Amortization Type

	 	 	 	 
	 	 	 	1  Paid-in-Full	4  Final Recovery REO	 	 	1  Fully
                    Amortizing

	4  Interest Only/Amortizing

	 	 	 	 
	 	 	 	2  Final Recovery Mode	5  Permitted Purchase of REO	 	 	2  Amortizing Balloon	5  Interest Only/Amortizing/Balloon

	 	 	 	 
	 	 	 	3  Permitted Purchase	 	 	 	 	3  Interest
                    Only/Balloon

	6  Principal Only 	 	 	 	 

 

	Page 14
    of 25	

     

     

    

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 

	 	 	 	 
	 	 	 	 
	Historical
    Bond/Collateral Loss Reconciliation	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Liquidation
    Summary	 	 	Certificate
    Level	 	 	Cash
    Adjustment
	Investor

     No.	Period	 	Beginning

    Balance (1)	Aggregate

    Loss (2)	 	 	Prior
    Certificate

    Writedown (3)	OC,
    Credit

    Support (4)	Shortfalls/

    Excesses (5)	Modification,

    ARA Adjs (6)	Subseq
    Claims

    Recoveries (7)	Curr
    Certificate

    Writedown (8)	 	Cash

    Recovery (9)	Curr
    Certificate

    Writedown Adj.(10)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Loan Status Code	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 
	 	1	Current Scheduled Beginning Balance
    of the Loan at Liquidation	 	6	Modification Adjustments/Appraisal Reduction
    Adjustments
	 	2	Aggregate Realized Loss on Loans	 	7	Additional (Recoveries) Expenses applied to Realized Losses
	 	3	Prior Realized Loss Applied to Certificates	 	8	Realized Loss Applied to Certificates to Date ((3) -(4) - (5) - (6)
    + (7))
	 	4	Amounts covered by Overcollaterization and other Credit Supports  	 	9	Recoveries of Realized Losses Paid as Cash
	 	5	Interest (Shortages)/Excesses applied to Realized Losses	 	10 	Recoveries/Realized Losses applied to Certificate Interest
	 	

    Note: In the initial period, the Realized Loss Applied to certificates
    to Date will equal Aggregate Realized Loss on Loans (- (4) - (5) -(6) +(7)) versus ( (3) - (4) - (5) -(6) +(7))

 

	Page 15
    of 25	

 

     

     

    

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 

	 	 	 	 
	 	 	 	 
	Historical
    Loss Liquidation	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	Liquidation
    Components (time of resolution)	 	 	 	Subsequent
    Adjustments
	Investor

         No.	 	Period	 	Begin
    Bal	Most
    Recent

    Appraisal	Liquidation

    Sales Price	Liquidation

    Proceeds	Liquidation

    Expense	Net
    Liquidation

    Proceeds	Loss
    to Trust	Loss

    Type	 	 	 	Adjustment

    Date	Adjustment

    Amount	Minor
    Adjustment	Adjusted
    Loss

    Cumulative
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

	Page 16
    of 25	

 

     

     

    

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 

	 	 	 	 
	 	 	 	 
	Loan
    Level Detail	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Current
    P&I	 	Current
    Status	 	Additional
    Loan Interest Detail	 	Financial
	 	 	Principal
    Components	 	Interest	 	 	 	 	 	 	 	 	 	Most
    Recent	 	Cutoff
	Investor

     No.	 	Begin
    Bal	Principal	Ending
    Bal	 	Rate	Accrual	Interest	 	PTD	Loan

    Status	Rsln

    Strgy	 	 Int
    on Adv	Default
    Int	Penalty
    Int	 	DSCR	LTV*	Phy

    Occ %	 	DSCR	LTV	Phy

    Occ %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	* The
    information might be from a prior reporting period	 	 	 	 	 	 	 	 	 	 	 	 
	 	Resolution Strategy Code	Loan Status Code	 	Property Type Code	Amortization Type
	 	1   	Modification	6   	DPO	10  	Deed
    in Lieu Of	 	0  	Current	3  	90
    Days Delinquent	 	MF	Multi-Family	OF	Office	 	1
    	Fully
    Amortizing
	 	2	Foreclosure	7	REO	 	Foreclosure	 	A	Grace	4	Matured Balloon	 	RT	Retail	MU	Mixed Use	 	2   	Amortizing Balloon
	 	3	Bankruptcy	8	Resolved	11	Full Payoff	 	B	0 - 29 Days	7	Foreclosure	 	HC	Health Care	LO	Lodging	 	3	Interest Only/Balloon
	 	4	Extension	9	Pending Return	12	Reps and Warranties 	 	1	30 Days Delinquent	9	REO	 	IN	Industrial	SS	Self Storage	 	4	Interest Only/Amortizing
	 	5	Note Sale	 	to Master Servicer	13	Other or TBD	 	2	60 Days Delinquent	 	 	 	WH	Warehouse	OT	Other	 	5	Interest Only/Amortizing/Balloon
	 	 	 	 	 	 	 	 	 	 	 	 	 	MH	Mobile Home Park 	 	 	 	6	Principal Only

 

	Page 17
    of 25	

 

     

     

    

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 

 

	 	 
	Specially Serviced
    Loan Detail	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Status/Resolutions	 	Balance/Rate/Terms	 	Static	 	Financial
	 	 	 	 	 	 	 	 	 	 	Remaining	 	 	 	 	 	 	Most
    Recent	 	Cutoff
	Investor	 	Paid Through	Spec Serv	Loan	Resoln	 	Scheduled	Actual	Note	 	 	 	Prop		Amort	Cutoff	 	 		Phy	 	 		Phy 
	No.	 	Date	Trans
    Date	Status	Strategy	 	Balance	Balance	Rate	Life	Amort	 	Type	State	Type	Maturity	 	DSCR	LTV *	Occ %	 	DSCR	LTV	Occ %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Loan Status (0,A,B)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Total	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	* The information might be from a prior reporting period	 	 	 	 	 	 	 	 	 	 
	 	Resolution Strategy
    Code	 	Loan Status Code	 	Property Type
    Code	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	1  	Modification	6  	DPO	10  	Deed in Lieu Of	 	0	Current	3  	90 Days Delinquent	 	MF      	Multi-Family	OF	Office
	 	2	Foreclosure	7	REO	 	Foreclosure	 	A	Grace	4	Matured Balloon	 	RT	Retail	MU  	Mixed Use
	 	3	Bankruptcy	8	Resolved	11	Full Payoff	 	B	0 - 29 Days	7	Foreclosure	 	HC	Health Care	LO	Lodging
	 	4	Extension	9	Pending Return	12	Reps and Warranties	 	1	30 Days Delinquent 	9	REO	 	IN	Industrial	SS	Self Storage
	 	5	Note Sale	 	to Master Servicer	13	Other or TBD	 	2	60 Days Delinquent	 	 	 	WH	Warehouse	OT	Other
	 	 	 	 	 	 	 	 	 	 	 	 	 	MH	Mobile Home Park	 	 

 

	Page 18
    of 25	

 

     

     

    
 

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage
    Pass-Through Certificates
	 	 
	September 12, 2016	 

 

	 	 
	Specially Serviced
    Loan Comments	 

	 	 	 	 	 	 	 	 
	 	 	Status/Resolutions	 	 
	Investor	 	 	Loan	Spec Serv	Resoln	 	 
	No.	 	PTD	Status	Trans
    Date	Strategy	 	Description
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

	Page 19
    of 25	

 

     

     

    

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage
    Pass-Through Certificates
	 	 
	September 12, 2016	 

 

	 	 
	Appraisal Reduction
    Detail	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Status/Resolutions	 	Appraisal
    Reduction Components	 	Static	 	Most
    Recent	 	Cutoff
	Investor	 	 	Spec Serv	Loan	Resoln	 	Scheduled	Appraisal	 	Actual	 	Prop	 	Amort	Cutoff	 	 	 	Phy	 	 	 	Phy
	No.	 	PTD	Trans
    Date	Status	Strategy	 	Balance	Reduction
    Amt	ASER	Balance	 	Type	State	Type	Maturity	 	DSCR	LTV*	Occ %	 	DSCR	LTV	Occ %
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	* The information might be from a prior reporting period	 	 	 	 	 	 	 	 	 	 
	 	Resolution Strategy
    Code	 	Loan Status Code	 	Property Type
    Code	 	 	 
	 	1    	Modification	6   	DPO	10      	Deed in Lieu Of	 	0  	Current	3      	90 Days Delinquent	 	MF     	Multi-Family	OF     	Office
	 	2	Foreclosure	7	REO	 	Foreclosure	 	A  	Grace	4	Matured Balloon	 	RT	Retail	MU	Mixed Use
	 	3	Bankruptcy	8	Resolved	11	Full Payoff	 	B  	0 - 29 Days	5	Non Performing	 	HC	Health Care	LO	Lodging
	 	4	Extension	9	Pending Return	12	Reps and Warranties	 	1  	30 Days Delinquent 	 	Matured Balloon	 	IN	Industrial	SS	Self Storage
	 	5	Note Sale	 	to Master Servicer    	13	Other or TBD	 	2  	60 Days Delinquent     	7	Foreclosure	 	WH	Warehouse	GC	Golf Course
	 	 	 	 	 	 	 	 	 	 	9	REO	 	MH	Mobile Home Park     	OT	Other

 

	Page 20
    of 25	

 

     

     

    
 

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage
    Pass-Through Certificates
	 	 
	September 12, 2016	 

 

	 	 
	Appraisal Reduction
    Comments	 

	 	 	 	 	 	 	 	 
	 	 	Status/Resolutions	 	 
	Investor	 	 	Loan	Appraisal	Resoln	 	 
	No.	 	PTD	Status	Redn Date	Strategy	 	Description
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

	Page 21
    of 25	

 

     

     

    
 

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 

	 	 	 	 
	 	 	 	 
	Modifications/Extensions
    Detail/Description	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Modification
    Components	 	 
	Investor	 	Modification	 	Modification
    Terms	 	Cutoff/Current	 	 
	No.	 	Date	 	Type	 	Balance	 	Rate	 	Maturity	 	P&I
    Amount	 	Balance	 	Rate	 	Maturity	 	P&I
    Amount	 	Description
	 	 	

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 
	 	Modification Type	 
	 	 	 	 	 	 
	 	1	Maturity Date	6	Capitalization on Taxes
	 	2	Amortization Change	7	Other
	 	3	Principal Write-off	8	Combination
	 	4	Temporary Rate Reduction	 	 
	 	5	Capitalization of Interest	 	 

 

	Page 22
    of 25	

     

     

    

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 

	 	 	 	 
	 	 	 
	Material
    Breaches and Document Defects	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Status/Resolutions	 	 	 
	 	Investor	 	 	 	 	Loan	 	Breach or	 	Resoln	 	 	 
	 	No.	 	 	PTD	 	Status	 	Defect
    Date	 	Strategy	 	 	Description
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

	Page 23
    of 25	

 

     

     

    

 

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 

	 	 	 	 
	 	 	 
	Property
    Detail (Default/Transfer)	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Property
    No.	 	 	Name	 	City	 	State	 	Status	 	Foreclosure
    Date	 	Valuation
    Amount	 	Valuation
    Date	 	Conveyance/

    Transfer (Y/N)	 	 	Description
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

	Page 24
    of 25	

 

     

     

    

 

	COMM 2016-SFC Mortgage Trust	
	 
	COMM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates
	 	 
	September 12, 2016	 

	 	 	 	 
	 	 	 
	Extraordinary
Event	 	 
	 	 	 	 	 	 

 

	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Loan Event of Default	 	No	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Special Servicing Loan Event	 	No	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Servicer Termination Event	 	No	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Special Servicer Termination Event	 	No	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Information with respect to any declared bankruptcy of any Mortgage
    Loan Borrower	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

	Page 25
    of 25	

 

 

     

     

    

 

 

EXHIBIT L-1A

 

Form
of Investor Certification for Non-Borrower RELATED PartY

(for Persons other than the DIRECTING HOLDER and/or a Controlling Class Certificateholder)

 

[Date]

 

Deutsche Bank Trust Company Americas 

1761 East St. Andrew Place 

Santa Ana, California 92705

Attention: Trust Administration – DB16SF

 

		Re:	Trust and Servicing Agreement (“Trust and Servicing Agreement”)
relating to DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with the requirements
for obtaining certain information under the Trust and Servicing Agreement with respect to the above-referenced certificates (the
“Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned is a certificateholder,
beneficial owner or prospective purchaser of the Class ___ Certificates, and is neither the Directing Holder nor a Controlling
Class Certificateholder.

 

2.          The undersigned is not
a Borrower Related Party.

 

3.          The undersigned is requesting
access pursuant to the Trust and Servicing Agreement to certain information (the “Information”) on the Certificate
Administrator’s Website.

 

In consideration of the disclosure
to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential (except from
such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates, from its
accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned is
subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the undersigned
or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.

 

The undersigned shall not use
or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933, as
amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration of
any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

    L-1A-1

     

    

 

5.          The undersigned shall be
fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor, the Certificate
Administrator, the Trustee, the Master Servicer, the Special Servicer, the Initial Purchaser and the Trust Fund for any loss, liability
or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

6.          The undersigned agrees
that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified that the
representations and covenants contained herein remain true and correct.

 

7.          Capitalized terms used
but not defined herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement.

 

[BY ITS CERTIFICATION HEREOF,
the undersigned has made the representations above and shall have caused, or shall be deemed to have caused, its name to be signed
hereto by its duly authorized signatory, as of the date certified.] 

	 	 	 
	 	[Certificateholder][Beneficial Owner][Prospective
Purchaser]
	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    L-1A-2

     

    

 

EXHIBIT L-1B

 

Form
of Investor Certification for Non-Borrower RELATED PartY

(for the DIRECTING HOLDER and/or a Controlling Class Certificateholder)

 

[Date]

	
        Wells Fargo Bank, National
Association 

        Commercial Mortgage
Servicing 

        550 South Tryon Street,
14th Floor 

        MAC D1086 

        Charlotte, North Carolina
28202 

        Attention: DBJPM 2016-SFC - Asset Manager

         
	Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, California 92660-6397

Attention: Chris Dallas, Vice President – Investment Counsel
	
        Deutsche Bank Trust Company Americas 

        1761 East St. Andrew Place 

        Santa Ana, California 92705 

        Attention: Trust Administration – DB16SF 
	Wilmington Trust, National Association

Rodney Square North 

1100 North Market Street

Wilmington, Delaware 19890

 

		Re:	Trust and Servicing Agreement (“Trust and Servicing Agreement”)
relating to DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with the requirements
for obtaining certain information under the Trust and Servicing Agreement with respect to the above-referenced certificates (the
“Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned is [the
Directing Holder][a Controlling Class Certificateholder].

 

2.          The undersigned is not
a Borrower Related Party.

 

3.          The undersigned is requesting
access pursuant to the Trust and Servicing Agreement to certain information (the “Information”) on the Certificate
Administrator’s Website.

 

In consideration of the disclosure
to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential (except from
such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates, from its
accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned is
subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the undersigned
or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part, unless required to do so by law, regulation or legal, judicial or administrative
process; provided,

 

    L-1B-1

     

    

 

however,
that the confidentiality requirement detailed above shall not apply to information which (i) is already in the undersigned’s
possession, (ii) is or becomes publicly available other than as a result of a disclosure by the undersigned in breach of this
agreement or (iii) is or becomes available to the undersigned from a source other than the Certificate Administrator’s Website.

 

The undersigned shall not use
or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933, as
amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

4.          The undersigned shall be
fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor, the Certificate
Administrator, the Trustee, the Master Servicer, the Special Servicer, the Initial Purchaser and the Trust Fund for any loss, liability
or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

5.          At any time the undersigned
becomes a Borrower Related Party, the undersigned shall deliver the certification attached as Exhibit L-1D to the Trust and Servicing
Agreement and shall deliver to the applicable parties the notices attached as Exhibit L-1E and Exhibit L-1F to the Trust and Servicing
Agreement.

 

6.          The undersigned agrees
that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified that the
representations and covenants contained herein remain true and correct.

 

7.          The undersigned hereby
certifies that an executed copy of this certification in paper form has been delivered in accordance with the notice provisions
of the Trust and Servicing Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered
mail, postage prepaid.

 

8.          Capitalized terms used
but not defined herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement.

 

[BY ITS CERTIFICATION HEREOF,
the undersigned has made the representations above and shall have caused, or shall be deemed to have caused, its name to be signed
hereto by its duly authorized signatory, as of the date certified.] 

	 	 	 
	 	[The Directing Holder][a Controlling
Class Certificateholder]
	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    L-1B-2

     

    

 

EXHIBIT L-1C

 

Form
of Investor Certification for Borrower RELATED PartY

(for Persons other than the DIRECTING and/or a Controlling Class Certificateholder)

 

[Date]

 

Deutsche Bank Trust Company Americas

1761 East St. Andrew Place

Santa Ana, California 92705

Attention: Trust Administration – DB16SF 

 

Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: DBJPM 2016-SFC Asset Manager

 

		Re:	Trust and Servicing Agreement (“Trust and Servicing Agreement”)
relating to DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with the requirements
for obtaining certain information under the Trust and Servicing Agreement with respect to the above-referenced certificates (the
“Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned is a certificateholder,
beneficial owner or prospective purchaser of the Class ___ Certificates, and is neither the Directing Holder nor a Controlling
Class Certificateholder.

 

2           The undersigned is a
Borrower Related Party.

 

3.          The undersigned is requesting
access pursuant to the Trust and Servicing Agreement to certain information (the “Information”) on the Certificate
Administrator’s Website.

 

In consideration of the disclosure
to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential (except from
such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates, from its
accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned is
subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the undersigned
or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.

 

    L-1C-1 

     

    

 

The undersigned shall not use
or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933, as
amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

4.          The undersigned hereby
acknowledges and agrees that it is prohibited from accessing, reviewing and using Excluded Information (as defined in the Trust
and Servicing Agreement) to the extent the undersigned receives access to such Excluded Information on the Certificate Administrator’s
website or otherwise receives access to such Excluded Information in connection with its duties, or exercise of its rights pursuant
to the Trust and Servicing Agreement.

 

5.          The undersigned shall be
fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor, the Certificate
Administrator, the Trustee, the Master Servicer, the Special Servicer, the Initial Purchaser and the Trust Fund for any loss, liability
or expense incurred thereby with respect to any such breach by the undersigned or any of its Representatives.

 

6.          To the extent the undersigned
receives access to any Excluded Information on the Certificate Administrator’s Website or otherwise receives access to such
Excluded Information, the undersigned shall be deemed to have agreed that it (i) will not directly or indirectly provide such Excluded
Information to the Borrower or (A) any employees or personnel of the undersigned or any Affiliate involved in the management of
any investment in the Borrower or the Mortgaged Property or (B) to its actual knowledge, any non-Affiliate that holds a direct
or indirect ownership interest in the Borrower, and (ii) will maintain sufficient internal controls and appropriate policies and
procedures in place in order to comply with the obligations described in clause (i) above.

 

7.          The undersigned agrees
that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified that the
representations and covenants contained herein remain true and correct.

 

8.          Capitalized terms used
but not defined herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement.

 

[BY ITS CERTIFICATION HEREOF,
the undersigned shall be deemed to have caused its name to be signed hereto by its duly authorized signatory, as of the date certified.]

 

	 	[Certificateholder][Beneficial
Owner][Prospective Purchaser]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    L-1C-2 

     

    

 

EXHIBIT L-1D

 

Form
of Investor Certification for Borrower RELATED PartY

(for the DIRECTING HOLDER and/or a Controlling Class Certificateholder)

 

[Date]

 

	
        Wells Fargo Bank, National
Association

        Commercial Mortgage
Servicing

        550 South Tryon Street,
14th Floor

        MAC D1086

        Charlotte, North Carolina
28202

        Attention: DBJPM 2016-SFC - Asset Manager

         
	Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, California 92660-6397

Attention: Chris Dallas, Vice President – Investment Counsel
	
        Deutsche Bank Trust Company Americas

        1761 East St. Andrew Place

        Santa Ana, California 92705

        Attention: Trust Administration – DB16SF

         
	Wilmington Trust, National Association

Rodney Square North 

1100 North Market Street

Wilmington, Delaware 19890

		Re:	Trust and Servicing Agreement (“Trust and Servicing Agreement”)
relating to DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with the requirements
for obtaining certain information under the Trust and Servicing Agreement with respect to the above-referenced certificates (the
“Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned is [the
Directing Holder][a Controlling Class Certificateholder].

 

2           The undersigned is a
Borrower Related Party.

 

3.          The undersigned is requesting
access pursuant to the Trust and Servicing Agreement to certain information (the “Information”) on the Certificate
Administrator’s Website.

 

In consideration of the disclosure
to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential (except from
such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates, from its
accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned is
subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the undersigned
or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.

 

    L-1D-1 

     

    

 

The undersigned shall not use
or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933, as
amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

4.          The undersigned hereby
acknowledges and agrees that it is prohibited from accessing, reviewing and using Excluded Information (as defined in the Trust
and Servicing Agreement) to the extent the undersigned receives access to such Excluded Information on the Certificate Administrator’s
website or otherwise receives access to such Excluded Information in connection with its duties, or exercise of its rights pursuant
to the Trust and Servicing Agreement.

 

5.          The undersigned shall be
fully liable for any breach of this agreement by itself or any of its Representative and shall indemnify each party to the Trust
and Servicing Agreement, the Initial Purchaser and the Trust Fund for any loss, liability or expense incurred thereby with respect
to any such breach by the undersigned or any of its Representatives.

 

6.          To the extent the undersigned
receives access to any Excluded Information on the Certificate Administrator’s Website or otherwise receives access to such
Excluded Information, the undersigned shall be deemed to have agreed that it (i) will not directly or indirectly provide such Excluded
Information to the Borrower or (A) any employees or personnel of the undersigned or any Affiliate involved in the management of
any investment in the Borrower or the Mortgaged Property or (B) to its actual knowledge, any non-Affiliate that holds a direct
or indirect ownership interest in the Borrower, and (ii) will maintain sufficient internal controls and appropriate policies and
procedures in place in order to comply with the obligations described in clause (i) above.

 

7.          The undersigned agrees
that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified that the
representations and covenants contained herein remain true and correct.

 

8.          The undersigned hereby
certifies that an executed copy of this certification in paper form has been delivered in accordance with the notice provisions
of the Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered mail, postage prepaid.

 

9.          Capitalized terms used
but not defined herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement.

 

[BY ITS CERTIFICATION HEREOF,
the undersigned shall be deemed to have caused its name to be signed hereto by its duly authorized signatory, as of the date certified.]

 

    L-1D-2 

     

    

 

	 	[The Directing Holder][a Controlling
Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    L-1D-3 

     

    

 

EXHIBIT L-1E

 

FORM OF NOTICE OF EXCLUDED CONTROLLING CLASS
HOLDER

 

[Date]

 

	
        Wells Fargo Bank, National
Association

        Commercial Mortgage
Servicing

        550 South Tryon Street,
14th Floor

        MAC D1086

        Charlotte, North Carolina
28202

        Attention: DBJPM 2016-SFC - Asset Manager

         
	Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, California 92660-6397

Attention: Chris Dallas, Vice President – Investment Counsel
	
        Deutsche Bank Trust Company Americas

        1761 East St. Andrew Place

        Santa Ana, California 92705

        Attention: Trust Administration – DB16SF

         
	Wilmington Trust, National Association

Rodney Square North 

1100 North Market Street

Wilmington, Delaware 19890

		Re:	Trust and Servicing Agreement (“Trust and Servicing Agreement”)
relating to DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with Section 4.02(b) of the Trust and
Servicing Agreement, with respect to the above-referenced certificates (the “Certificates”), the undersigned
(the “Excluded Controlling Class Holder”) hereby certifies and agrees as follows:

 

1.          The undersigned is [the Directing Holder] [a
Controlling Class Certificateholder] as of the date hereof.

 

2.          As of the date above, the undersigned is the
beneficial owner of the following certificates, and is providing the below information to the addressees hereto for purposes of
their compliance with the Trust and Servicing Agreement, including, the Certificate Administrator’s determination as to whether
a Subordinate Control Period or Subordinate Consultation Period has been terminated:

 

	CUSIP	Class	Outstanding Certificate

 Balance	Initial Certificate

 Balance
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    L-1E-1 

     

    

 

3.          The undersigned is simultaneously providing
notice to the Certificate Administrator in the form of Exhibit L-1F to the Trust and Servicing Agreement, requesting termination
of access to any Excluded Information. The undersigned acknowledges that it is not permitted to access and shall not access any
Excluded Information on the Certificate Administrator’s website unless and until it has (i) delivered notice of the termination
of the related Excluded Controlling Class Holder status and (ii) submitted a new investor certification in accordance with Section
4.02(b) of the Trust and Servicing Agreement.

 

4.          The undersigned agrees to indemnify and hold
harmless each party to the Trust and Servicing Agreement, the Initial Purchaser and the Trust Fund from any damage, loss, cost
or liability (including legal fees and expenses and the cost of enforcing this indemnity) arising out of or resulting from any
unauthorized access by the undersigned or any agent, employee, representative or person acting on its behalf of any Excluded Information.

 

Capitalized terms used but not defined herein have
the respective meanings given to them in the Trust and Servicing Agreement.

 

IN WITNESS WHEREOF, the undersigned has made the representations
above and shall be deemed to have caused its name to be signed hereto by its duly authorized officer, as of the day and year written
above.

 

	 	[Directing Holder][a Controlling Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Name:

Title: 

Phone:

Email:

Address:

 

    L-1E-2 

     

    

 

EXHIBIT L-1F

 

FORM OF NOTICE OF EXCLUDED CONTROLLING CLASS
HOLDER TO CERTIFICATE ADMINISTRATOR

 

[Date]

 

	
        Via: Email

Deutsche Bank Trust Company Americas

        1761 East St. Andrew Place

        Santa Ana, California 92705

        Attention: Trust Administration – DB16SF

        uscmbs.info@db.com

         

		Re:	Trust and Servicing Agreement (“Trust and Servicing Agreement”)
relating to DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with Section 4.02(b) of the Trust and
Servicing Agreement, with respect to the above-referenced certificates (the “Certificates”), the undersigned
(the “Excluded Controlling Class Holder”) hereby directs you as follows:

 

1.          The undersigned is the [Directing Holder][a
Controlling Class Certificateholder] as of the date hereof.

 

2.          The
following USER IDs for the Certificate Administrator’s Website are affiliated with the undersigned and access to any information
on the Certificate Administrator’s Website with respect to the DBJPM 2016-SFC Mortgage Trust securitization should be revoked
as to such users: 

	 	 
	 	 
	 	 
	 	 

 

3.          The undersigned acknowledges that it is not
permitted to access and shall not access any Excluded Information on the Certificate Administrator’s website unless and until
it (i) is no longer an Excluded Controlling Class Holder, (ii) has delivered notice of the related Excluded Controlling Class Holder
status and (iii) has submitted an investor certification in the form of Exhibit L-1E to the Trust and Servicing Agreement.

 

Capitalized terms used but not defined herein have
the respective meanings given to them in the Trust and Servicing Agreement.

 

    L-1F-1 

     

    

 

IN WITNESS WHEREOF, the undersigned has made the representations
above and shall be deemed to have caused its name to be signed hereto by its duly authorized officer, as of the day and year written
above.

 

	 	[Directing Holder][a Controlling Class Certificateholder]
	 	 	 
	 		 
	 	Name:
 Title: 
 Phone:
 Email:
 Address:

 

The undersigned hereby acknowledges that

access to the Certificate Administrator’s

Website has been revoked for the users

listed in Paragraph 2.

 

	DEUTSCHE BANK TRUST COMPANY AMERICAS,

Certificate Administrator
	 	 
	Name:

Title:	 
	 	 	 

 

    L-1F-2 

     

    

  

EXHIBIT L-1G

Form
of Certification of the DIRECTING HOLDER

 

[Date]

	
        Wells Fargo Bank, National
Association

        Commercial Mortgage
Servicing

        550 South Tryon Street,
14th Floor

        MAC D1086

        Charlotte, North Carolina
28202

        Attention: DBJPM 2016-SFC - Asset Manager

         
	Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, California 92660-6397

Attention: Chris Dallas, Vice President – Investment Counsel
	
        Deutsche Bank Trust Company Americas

        1761 East St. Andrew Place

        Santa Ana, California 92705

        Attention: Trust Administration – DB16SF

         
	Wilmington Trust, National Association

Rodney Square North 

1100 North Market Street

Wilmington, Delaware 19890

		Re:	Trust and Servicing Agreement (“Trust and Servicing Agreement”)
relating to DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with Section 6.07(b)
and (e) of the Trust and Servicing Agreement, the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned has been
appointed to act as the Directing Holder.

 

2.          The Prima Parties are,
collectively, the holder of at least 49.5% of the Controlling Class (by Certificate Balance).

 

3.          No Prima Party or Affiliate
of the undersigned is a Borrower Related Party.

 

4.           If any Prima Party or
Affiliate of the undersigned becomes a Borrower Related Party, the undersigned agrees to and shall deliver the certification attached
as Exhibit L-1D to the Trust and Servicing Agreement and shall deliver to the applicable parties the notices attached as Exhibit
L-1E and Exhibit L-1F to the Trust and Servicing Agreement.

 

5.           If the Prima Parties collectively
do not hold at least 49.5% of the Controlling Class (by Certificate Balance), the undersigned agrees to and shall promptly notify
Pacific Life Insurance Company and the Certificate Administrator in writing that it is no longer the Holder of at least 49.5% of
the Controlling Class (by Certificate Balance).

 

6.          The undersigned shall be
fully liable for any breach of this agreement by itself or any of its Representative and shall indemnify each party to the Trust
and Servicing

 

    L-1G-1 

     

    

 

Agreement, the Initial Purchaser and the Trust Fund for any loss, liability or expense incurred thereby with respect
to any such breach by the undersigned or any of its Representatives.

 

7.          The undersigned hereby
certifies that an executed copy of this certification in paper form has been delivered in accordance with the notice provisions
of the Trust and Servicing Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered
mail, postage prepaid.

 

8.          Capitalized terms used
but not defined herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement.

 

[BY ITS CERTIFICATION HEREOF,
the undersigned shall be deemed to have caused its name to be signed hereto by its duly authorized signatory, as of the date certified.]

 

	 	[The Directing Holder][a Controlling
Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Title:

Company:

Phone:

 

    L-1G-2 

     

    

  

EXHIBIT L-2

 

FORM OF INVESTOR CERTIFICATION

 

[Date]

 

Wells Fargo Bank, National Association

Commercial Mortgage Servicing

550 South Tryon Street, 14th
Floor

MAC D1086

Charlotte, North Carolina 28202

Attention: DBJPM 2016-SFC - Asset Manager

Deutsche Bank Trust Company Americas

1761 East St. Andrew Place

Santa Ana, California 92705

Attention: Trust Administration – DB16SF

 

Re:          DBJPM
2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with the requirements
for the exercise of Voting Rights pursuant to the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Agreement”)
and executed in connection with the DBJPM 2016-SFC securitization transaction, with respect to the above-referenced certificates
(the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned is a beneficial
certificateholder of the Class [_] Certificates in the original principal amount of $[_____], CUSIP number [_].

 

2.          The undersigned is duly
authorized to deliver this certification to the Certificate Administrator, such power has not been granted or assigned to any other
Person and the Certificate Administrator may conclusively rely on this certification.

 

3.          The undersigned intends
to exercise Voting Rights under the Agreement, and certifies that the undersigned is not the Depositor, the Certificate Administrator,
the Trustee, a Borrower, a Manager, a Restricted Holder, an Affiliate of any of the foregoing or an agent of any of the foregoing.

 

4.          The undersigned shall be
fully liable for any breach of this agreement by itself or any of its officers, directors, partners, employees, agents or representatives,
and shall indemnify the Depositor, the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer and the
Trust Fund for any loss, liability or expense incurred thereby with respect to any such breach by the undersigned or any of its
Representatives.

 

5.          Capitalized terms used
but not defined herein shall have the respective meanings assigned thereto in the Agreement.

 

    L-2-1 

     

    

 

BY ITS CERTIFICATION HEREOF,
the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly
authorized signatory, as of the date certified.

 

	 	[Certificateholder]
	 	 	 
	 	By:	 
	 	 	Name:

Title:

Company:

Phone:
	 	 	 
	 	DTC Participant Name_________________

 

DTC Participant No. __________________

 

    L-2-2 

     

    

  

EXHIBIT L-3

 

FORM OF ONLINE VENDOR CERTIFICATION

 

This Certification has been prepared for provision
of information to the market data providers listed in Paragraph 1 below pursuant to the direction of the Depositor.

 

In connection with the DBJPM
2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates (the “Certificates”) issued pursuant to
the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”) and executed
in connection with the DBJPM 2016-SFC securitization transaction, the undersigned hereby certifies and agrees as follows:

 

		1.	The undersigned is an employee or agent of BlackRock Financial Management, Inc., Bloomberg, L.P.,
Trepp, LLC, Intex Solutions, Inc., Thomson Reuters Corporation, Interactive Data Corporation or Markit LLC, a market data provider
that has been given access to the Distribution Date Statements, CREFC reports and supplemental notices delivered or made available
pursuant to Section 4.02 of the Trust and Servicing Agreement to Privileged Persons on https://tss.sfs.db.com/investpublic (the
“Website”) by request of the Depositor.

 

		2.	The undersigned agrees that each time it accesses the Website, the undersigned is deemed to have
recertified that the representation above remains true and correct.

 

		3.	Capitalized terms used but not defined herein shall have the respective meanings assigned thereto
in the agreement pursuant to which the Certificates were issued.

 

BY ITS CERTIFICATION HEREOF, the
undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly authorized
signatory, as of the date certified.

 

	 	[______________________]
	 	 	 
	 	By:	 
	 	 	Name:

    Title:

    Phone:

    E-mail:

 

Dated:

 

    L-3-1 

     

    

  

EXHIBIT L-4

 

FORM
OF CREFC® Certification 

 

This Certification has been prepared for provision
of information to the CRE Finance Council®. 

 

In connection with the DBJPM
2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates (the “Certificates”), the undersigned
hereby certifies and agrees as follows:

 

		1.	The undersigned is an employee or agent of the CRE Finance Council® that has been
given access to the Distribution Date Statements and CREFC® reports on https://tss.sfs.db.com/investpublic.com.

 

		2.	The undersigned agrees that each time it accesses https://tss.sfs.db.com/investpublic.com,
the undersigned is deemed to have recertified that the representation above remains true and correct.

 

		3.	Capitalized terms used but not defined herein shall have the respective meanings assigned thereto
in the agreement pursuant to which the Certificates were issued.

 

BY ITS CERTIFICATION HEREOF,
the undersigned has made the representations above and has caused, or shall be deemed to have caused, its name to be signed hereto
by its duly authorized signatory, as of the date certified.

 

	 	[______________________]
	 	 	 
	 	By:	 
	 	 	Name:

    Title:

    Phone:

    E-mail:
	 	 	 

Dated:

 

    L-4-1 

     

    

 

EXHIBIT M

 

FORM OF NOTIFICATION FROM CUSTODIAN

 

[DATE]

 

To the Persons Listed on the attached Schedule A

 

Re:          DBJPM 2016-SFC Mortgage Trust
Commercial Mortgage Pass-Through Certificates          

 

Ladies and Gentlemen:

 

In accordance with Section 2.02
of the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”) and executed
in connection with the DBJPM 2016-SFC securitization transaction, the undersigned, as Custodian, hereby notifies you that, based
upon the review required under the Trust and Servicing Agreement, the Mortgage File for the Whole Loan set forth on the attached
defect schedule contains a document or documents which (i) has not been executed or received, (ii) has not been recorded or filed
(if required), (iii) is unrelated to the Whole Loan, (iv) appears not to be what they purport to be or has been torn in any materially
adverse manner or (v) is mutilated or otherwise defaced, in each case as more fully described on the attached defect schedule.

 

The Custodian has no responsibility
to determine, and expresses no opinion with respect thereto, whether any document or opinion is legal, valid, binding or enforceable,
whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine if the Trustee
is the assignee or endorsee), whether any document has been recorded in accordance with the requirements of any applicable jurisdiction,
whether a blanket assignment is permitted in any applicable jurisdiction, or whether any Person executing any document or rendering
any opinion is authorized to do so or whether any signature thereon is genuine.

 

Capitalized words and phrases
used herein shall have the respective meanings assigned to them in the above-captioned Trust and Servicing Agreement.

 

	 	DEUTSCHE
BANK TRUST COMPANY AMERICAS, as Custodian
	 	 	 
	 	By:	 
	 	 	Name:

Title:

 

    M-1 

     

    

 

SCHEDULE A

TO

FORM OF NOTIFICATION FROM CUSTODIAN

 

Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan

Email: lainie.kaye@db.com

 

Deutsche Bank Trust Company Americas

1761 East St. Andrew Place

Santa Ana, California 92705

Attention: Trust Administration – DB16SF 

 

Wilmington Trust, National Association

Rodney Square North

1100 North Market Street

Wilmington, Delaware 19890

Attention: DBJPM 2016-SFC

Fax Number: (302) 630-4140

Email: cmbstrustee@wilmingtontrust.com

 

To the Master Servicer:

 

Wells Fargo Bank, National Association

Commercial Mortgage Servicing

550 South Tryon Street, 14th
Floor

MAC D1086

Charlotte, North Carolina 28202

Attention: DBJPM 2016-SFC - Asset
Manager

 

with a copy to:

Wells Fargo Bank, National Association

Legal Department

301 South College Street

D1053-300

Charlotte, North Carolina 28202

Attention: Commercial Mortgage Servicing Legal Support

 

with a copy to:

 

K&L Gates LLP

Hearst Tower

214 North Tryon Street

Charlotte, North Carolina 28202

 

    M-2 

     

    

 

Attention: Stacy G. Ackermann

 

To the Special Servicer:

 

Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, California 92660-6397

Attention: Chris Dallas, Vice President – Investment Counsel

Email: chris.dallas@pacificlife.com

 

with a copy by email to:

 

REDocumentmanagement@pacificlife.com

 

With a copy to:

Kelley Drye & Warren LLP

One Jefferson Road

Parsippany, New Jersey 07054-2173

Attention: Deron L. Green

Fax Number: (973) 503-5950

 

To the Trust Loan Sellers: 

 

German American Capital Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan

Email: lainie.kaye@db.com

 

JPMorgan Chase Bank, National Association

383 Madison Avenue

New York, New York 10179

Attention: Kunal K. Singh

E-mail: kunal.k.singh@jpmorgan.com

 

    M-3 

     

    

 

DEFECT SCHEDULE

TO FORM OF NOTIFICATION FROM CUSTODIAN

 

    M-4 

     

    

 

EXHIBIT N-1

 

FORM OF CLOSING DATE CUSTODIAN CERTIFICATION

 

	Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan	Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor 

Charlotte, North Carolina 28202

Attention: DBJPM 2016-SFC Asset Manager

Fax Number: (704) 715-0036
	
        Deutsche Bank Trust Company Americas

        1761 East St. Andrew Place

        Santa Ana, California 92705

        Attention: Trust Administration – DB16SF
	German American Capital Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan
	Wilmington
    Trust, National Association

    1100 North Market Street

    Wilmington, Delaware 19890

    Attention: DBJPM 2016-SFC

    Fax Number: (302) 630-4140

    Email: cmbstrustee@wilmingtontrust.com	Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, California 92660-6397

Attention: Chris Dallas, Vice President – Investment Counsel
	JPMorgan Chase Bank, National Association

383 Madison Avenue

New York, New York 10179

Attention: Kunal K. Singh	 

 

[Date]

 

	 	Re:	DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with
Section 2.02 of the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Agreement”) and executed
in connection with the DBJPM 2016-SFC securitization transaction, the Custodian hereby certifies that, with respect to the Trust
Loan listed on the Mortgage Loan Schedule attached hereto as Schedule A, (a) the Custodian has in its possession each Note, and
(b) the foregoing documents delivered or caused to be delivered by the Trust Loan Sellers as described in clause (a) above have
been reviewed by it and appear regular on their face, appear to be executed and purport to relate to the Trust Loan, except as
identified on the schedule attached hereto, and each of the documents specified in Section 2.01(a)(ii), Section 2.01(a)(vii)
and, to the extent delivered, Section 2.01(a)(xix) of the Agreement have been received, have been executed, appear to be what they
purport to be, purport to be recorded or filed (as applicable) and have not been torn or mutilated or otherwise defaced, and that
such documents relate to the Trust Loan identified in the Mortgage Loan Schedule.

 

    N-1-1

    	 

    

 

Capitalized terms
used but not defined herein shall the respective meanings set forth in the Agreement.

 

    N-1-2

    	 

    

 

	 	DEUTSCHE
BANK TRUST COMPANY AMERICAS,
	 	not in its individual capacity
	 	but solely as Custodian
	 	 
	 	     By:	 
	 		Name:
Title:

 

    N-1-3

    	 

    

 

SCHEDULE A 

TO CLOSING DATE CUSTODIAN CERTIFICATION

 

MORTGAGE LOAN SCHEDULE

 

    N-1-4

    	 

    

 

SCHEDULE 

TO CLOSING DATE CUSTODIAN CERTIFICATION

 

Exceptions to the Mortgage File Delivery
and Review

 

    N-1-5

    	 

    

 

EXHIBIT N-2

 

FORM OF POST-CLOSING CUSTODIAN CERTIFICATION

[Date]

 

Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan

 

Deutsche Bank Trust Company Americas

1761 East St. Andrew Place

Santa Ana, California 92705

Attention: Trust Administration – DB16SF

Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, California 92660-6397

Attention: Chris Dallas, Vice President – Investment Counsel

 

JPMorgan Chase Bank, National Association

383 Madison Avenue

New York, New York 10179

Attention: Kunal K. Singh

Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: DBJPM 2016-SFC Asset Manager

Fax Number: (704) 715-0036

 

German American Capital Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan

 

Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: DBJPM 2016-SFC

Fax Number: (302) 630-4140

Email: cmbstrustee@wilmingtontrust.com

	 	Re:	DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with
Section 2.02 of the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Agreement”) and executed
in connection with the DBJPM 2016-SFC securitization transaction, the Custodian hereby certifies, subject to the terms of the Trust
and Servicing Agreement, that, with respect to the Trust Loan listed on the Mortgage Loan Schedule attached hereto as Schedule
A, all documents (other than documents referred to in clauses (xix) and (xx) of Section 2.01(a) of the Agreement
and the documents referred to in clauses (iii), (v)(B) and (viii)(B) of Section 2.01(a) of the Agreement,
which shall be delivered for filing or recording by the Trust Loan Sellers as provided in the Agreement) referred to in Section
2.01(a) of the Agreement (in the case of the documents referred to in Section 2.01(a)(iv), (v), (vi),
(vii) (in the case of any endorsement thereto), (viii) and (ix) through (xxi) of the Agreement, as
identified to it in writing as a document required to be delivered by the Trust Loan Sellers) and any original recorded documents
included in the delivery of the Mortgage File have been received, have been executed, appear to be what they purport to be, purport
to be recorded or filed (as applicable) and have not been torn in any materially adverse manner or mutilated or otherwise defaced,
and that such documents relate to the Trust Loan identified in the Mortgage Loan Schedule, in each case, except as set forth on
the attached schedule hereto.

 

    N-2-1

    	 

    

 

Capitalized terms
used but not defined herein shall the respective meanings set forth in the Agreement.

 

	 	DEUTSCHE
BANK TRUST COMPANY AMERICAS,
	 	not in its individual capacity
	 	but solely as Custodian
	 	 
	 	     By:	 
	 	
	Name:

Title:

 

    N-2-2

    	 

    

 

SCHEDULE A 

TO POST-CLOSING CUSTODIAN CERTIFICATION

 

MORTGAGE LOAN SCHEDULE

 

    N-2-3

    	 

    

 

EXHIBIT O

 

FORM OF NRSRO CERTIFICATION

 

[Date]

 

Deutsche Bank Trust Company Americas

1761 East St. Andrew Place

Santa Ana, California 92705

Attention: Trust Administration – DB16SF

Attention:     Deutsche
Mortgage & Asset Receiving Corporation, DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates

In accordance with
the requirements for obtaining certain information pursuant to the Trust and Servicing Agreement, dated as of August 1, 2016 (the
“Trust and Servicing Agreement”) and executed in connection with the DBJPM 2016-SFC securitization transaction,
with respect to the above-referenced certificates (the “Certificates”), the undersigned hereby certifies and
agrees as follows:

 

		1.	The undersigned is either:

 

		(a)	a Rating Agency under the Trust and Servicing Agreement,
or

 

(b)
         a nationally recognized statistical rating organization and either (x) has provided the Depositor with the appropriate certifications
under Exchange Act Rule 17g-5(e), had access to the Depositor’s 17g-5 website prior to the Closing Date, is requesting access
pursuant to the Trust and Servicing Agreement to certain information (the “Information”) on such 17g-5 website
pursuant to the provisions of the Trust and Servicing Agreement, and agrees that any confidentiality agreement applicable to the
undersigned with respect to the information obtained from the Depositor’s 17g-5 website prior to the Closing Date shall
also be applicable to information obtained from the 17g-5 Information Provider’s Website (including without limitation,
to any information received by the Depositor for posting on the 17g-5 Information Provider’s Website), or (y), if the undersigned
did not have access to the Depositor’s 17g-5 website prior to the Closing Date, it hereby agrees that it shall be bound
by the provisions of the confidentiality agreement attached hereto as Annex A which shall be applicable to it with respect
to any information obtained from the 17g-5 Information Provider’s Website, including any information that is obtained from
the section of the 17g-5 Information Provider’s Website that hosts the Depositor’s 17g-5 website after the Closing
Date.

 

		2.	[The undersigned either (a) has not accessed information
pursuant to Rule 17g–5(a)(3) ten (10) or more times during the most recently ended calendar year, or (b) has determined
and maintained credit ratings for at least 10% of the issued securities and money market instruments for which it accessed information
pursuant to Rule 17g–5(a)(3)(iii) in the calendar year prior to the year covered by the SEC Certification, if it accessed
such information for 10 or more issued securities or money market instruments.]

    O-1

    	 

    

		3.	The undersigned agrees that each time it accesses the 17g-5 Information Provider’s Website,
it shall be deemed to have recertified that the representations above remain true and correct.

 

Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Trust and Servicing Agreement.

 

    O-2

    	 

    

 

BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its
duly authorized signatory, as of the date certified.

 

	 	[Nationally Recognized Statistical Rating Organization]

 

	 	Name:	 

 

	 	Title:	 

 

	 	Company:	 

 

	 	Phone:	 

 

	 	Email:	 

 

    O-3

    	 

    

 

Annex A

CONFIDENTIALITY AGREEMENT

 

This Confidentiality Agreement (the “Confidentiality
Agreement”) is made in connection with the [Depositor] together with its affiliates, the “Furnishing Entities”
and each a “Furnishing Entity”) furnishing certain financial, operational, structural and other information
relating to the issuance of the [________________] (the “Certificates”) pursuant to the Trust and Servicing
Agreement, dated as of [__________] (the “Trust and Servicing Agreement”), by and among [____________________]
and the assets underlying or referenced by the Certificates, including the identity of, and financial information with respect
to borrowers, sponsors, guarantors, managers and lessees with respect to such assets (together, the “Collateral”)
to you (the “NRSRO”) through the website of Deutsche Bank Trust Company Americas, as 17g-5 Information Provider
under the Trust and Servicing Agreement, including the [section of the 17g-5 Information Provider’s website that hosts the
Depositor’s 17g-5 website after the Closing Date (as defined in the Trust and Servicing Agreement)]. Information provided
by each Furnishing Entity is labeled as provided by the specific Furnishing Entity.

 

Definition of Confidential Information.
For purposes of this Confidentiality Agreement, the term “Confidential Information” shall include the following
information (irrespective of its source or form of communication, including information obtained by you through access to this
site) that may be furnished to you by or on behalf of a Furnishing Entity in connection with the issuance or monitoring of a rating
with respect to the Certificates: (x) all data, reports, interpretations, forecasts, records, agreements, legal documents and other
information (such information, the “Evaluation Material”) and (y) any of the terms, conditions or other facts
with respect to the transactions contemplated by the Trust and Servicing Agreement, including the status thereof; provided,
however, that the term Confidential Information shall not include information which:

 

was or becomes generally
available to the public (including through filing with the Securities and Exchange Commission or disclosure in an offering document)
other than as a result of a disclosure by you or a NRSRO Representative (as defined in Section 2(c)(i) below) in violation
of this Confidentiality Agreement;

 

was or is lawfully obtained
by you from a source other than a Furnishing Entity or its representatives that (i) is reasonably believed by you to be under no
obligation to maintain the information as confidential and (ii) provides it to you without any obligation to maintain the information
as confidential; or is independently developed by the NRSRO without reference to any Confidential Information.

 

Information to Be Held in Confidence.

 

You will use the Confidential
Information solely for the purpose of determining or monitoring a credit rating on the Certificates and, to the extent that any
information used is derived from but does not reveal any Confidential Information, for benchmarking, modeling or research purposes
(the “Intended Purpose”).

 

    O-4

    	 

    

 

You acknowledge that you
are aware that the United States and state securities laws impose restrictions on trading in securities when in possession of material,
non-public information and that the NRSRO will advise (through policy manuals or otherwise) each NRSRO Representative who is informed
of the matters that are the subject of this Confidentiality Agreement to that effect.

 

You will treat the Confidential
Information as private and confidential. Subject to Section 4, without the prior written consent of the applicable Furnishing Entity,
you will not disclose to any person any Confidential Information, whether such Confidential Information was furnished to you before,
on or after the date of this Confidentiality Agreement. Notwithstanding the foregoing, you may:

 

disclose the Confidential Information
to any of the NRSRO’s affiliates, directors, officers, employees, legal representatives, agents and advisors (each, a “NRSRO
Representative”) who, in the reasonable judgment of the NRSRO, need to know such Confidential Information in connection
with the Intended Purpose; provided, that, prior to disclosure of the Confidential Information to a NRSRO Representative,
the NRSRO shall have taken reasonable precautions to ensure, and shall be satisfied, that such NRSRO Representative will act in
accordance with this Confidentiality Agreement;

solely to the extent required for
compliance with Rule 17g-5(a)(3) of the Act (17 C.F.R. 240.17g-5),post the Confidential Information to the NRSRO’s password
protected website; and

 

use information derived from the
Confidential Information in connection with an Intended Purpose, if such derived information does not reveal any Confidential Information.

 

Disclosures Required by Law.
If you or any NRSRO Representative is requested or required (orally or in writing, by interrogatory, subpoena, civil investigatory
demand, request for information or documents, deposition or similar process relating to any legal proceeding, investigation, hearing
or otherwise) to disclose any Confidential Information, you agree to provide the relevant Furnishing Entity with notice as soon
as practicable (except in the case of regulatory or other governmental inquiry, examination or investigation, and otherwise to
the extent practical and permitted by law, regulation or regulatory or other governmental authority) that a request to disclose
the Confidential Information has been made so that the relevant Furnishing Entity may seek an appropriate protective order or other
reasonable assurance that confidential treatment will be accorded the Confidential Information if it so chooses. Unless otherwise
required by a court or other governmental or regulatory authority to do so, and provided that you been informed by written notice
that the related Furnishing Entity is seeking a protective order or other reasonable assurance for confidential treatment with
respect to the requested Confidential Information, you agree not to disclose the Confidential Information while the Furnishing
Entity’s effort to obtain such a protective order or other reasonable assurance for confidential treatment is pending. You
agree to reasonably cooperate with each Furnishing Entity in its efforts to obtain a protective order or other reasonable assurance
that confidential treatment will be accorded to the portion of the Confidential Information that is being disclosed, at the sole

 

    O-5

    	 

    

 

expense of such Furnishing Entity; provided, however, that in no event shall the NRSRO be required to take a position
that such information should be entitled to receive such a protective order or reasonable assurance as to confidential treatment.
If a Furnishing Entity succeeds in obtaining a protective order or other remedy, you agree to comply with its terms with respect
to the disclosure of the Confidential Information, at the sole expense of such Furnishing Entity. If a protective order or other
remedy is not obtained or if the relevant Furnishing Entity waives compliance with the provisions of this Confidentiality Agreement
in writing, you agree to furnish only such information as you are legally required to disclose, at the sole expense of the relevant
Furnishing Entity.

 

Obligation to Return Evaluation Material.
Promptly upon written request by or on behalf of the relevant Furnishing Entity, all material or documents, including copies thereof,
that contain Evaluation Material will be destroyed or, in your sole discretion, returned to the relevant Furnishing Entity. Notwithstanding
the foregoing, (a) the NRSRO may retain one or more copies of any document or other material containing Evaluation Material to
the extent necessary for legal or regulatory compliance (or compliance with the NRSRO’s internal policies and procedures
designed to ensure legal or regulatory compliance) and (b) the NRSRO may retain any portion of the Evaluation Material that may
be found in backup tapes or other archive or electronic media or other documents prepared by the NRSRO and any Evaluation Material
obtained in an oral communication; provided, that any Evaluation Material so retained by the NRSRO will remain subject to
this Confidentiality Agreement and the NRSRO will remain bound by the terms of this Confidentiality Agreement.

 

Violations of this Confidentiality Agreement.
The NRSRO will be responsible for any breach of this Confidentiality Agreement by you, the NRSRO or any NRSRO Representative.

You agree promptly to advise each relevant
Furnishing Entity in writing of any misappropriation or unauthorized disclosure or use by any person of the Confidential Information
which may come to your attention and to take all steps reasonably requested by such Furnishing Entity to limit, stop or otherwise
remedy such misappropriation, or unauthorized disclosure or use.

You acknowledge and agree that the Furnishing
Entities would not have an adequate remedy at law and would be irreparably harmed in the event that any of the provisions of this
Confidentiality Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly
agreed that each Furnishing Entity shall be entitled to specific performance and injunctive relief to prevent breaches of this
Confidentiality Agreement and to specifically enforce the terms and provisions hereof, in addition to any other remedy to which
a Furnishing Entity may be entitled at law or in equity. It is further understood and agreed that no failure to or delay in exercising
any right, power or privilege hereunder shall preclude any other or further exercise of any right, power or privilege.

 

Term. Notwithstanding
the termination or cancellation of this Confidentiality Agreement and regardless of whether the NRSRO has provided a credit rating
on a Security, your obligations under this Confidentiality Agreement will survive indefinitely.

 

Governing Law. This Confidentiality
Agreement and any claim, controversy or dispute arising under the Confidentiality Agreement, the relationships of the parties and/or
the interpretation and enforcement of the rights and duties of the parties shall be governed by and construed in

 

    O-6

    	 

    

 

accordance with
the laws of the State of New York applicable to agreements made and to be performed within such State.

 

Amendments. This Confidentiality
Agreement may be modified or waived only by a separate writing by the NRSRO and each Furnishing Entity.

 

Entire Agreement. This
Confidentiality Agreement represents the entire agreement between you and the Furnishing Entities relating to the treatment of
Confidential Information heretofore or hereafter reviewed or inspected by you. This agreement supersedes all other understandings
and agreements between us relating to such matters; provided, however, that, if the terms of this Confidentiality
Agreement conflict with another agreement relating to the Confidential Information that specifically states that the terms of such
agreement shall supersede, modify or amend the terms of this Confidentiality Agreement, then to the extent the terms of this Confidentiality
Agreement conflict with such agreement, the terms of such agreement shall control notwithstanding acceptance by you of the terms
hereof by entry into this website.

 

Contact Information. Notices
for each Furnishing Entity under this Confidentiality Agreement, shall be directed as set forth below:

 

[_____________]

 

    O-7

    	 

    

 

EXHIBIT P-1

 

FORM OF TRANSFEROR CERTIFICATE

FOR TRANSFER OF THE EXCESS SERVICING FEE RIGHTS

 

[Date]

 

Deutsche Mortgage &
Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan

 

	 	Re:	Deutsche Mortgage & Asset Receiving Corporation, DBJPM 2016-SFC Mortgage Trust
    Commercial Mortgage Pass-Through Certificates

 

Ladies and Gentlemen:

 

This letter is delivered
to you in connection with the transfer by [_____] (the “Transferor”) to [_____] (the “Transferee”)
of the Excess Servicing Fee Right established under the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust
and Servicing Agreement”) and executed in connection with the DBJPM 2016-SFC securitization transaction. All capitalized
terms used but not otherwise defined herein shall have the respective meanings set forth in the Trust and Servicing Agreement.
The Transferee hereby certifies, represents and warrants to you, as Depositor, that:

 

1.          The Transferor
is the lawful owner of the right to receive the Excess Servicing Fees with respect to the Whole Loan for which [_____] is the Master
Servicer (the “Excess Servicing Fee Right”), with the full right to transfer the Excess Servicing Fee Right
free from any and all claims and encumbrances whatsoever.

 

2.          Neither the
Transferor nor anyone acting on its behalf has (a) offered, transferred, pledged, sold or otherwise disposed of the Excess Servicing
Fee Right, any interest in the Excess Servicing Fee Right or any other similar security to any person in any manner, (b) solicited
any offer to buy or accept a transfer, pledge or other disposition of the Excess Servicing Fee Right, any interest in the Excess
Servicing Fee Right or any other similar security from any person in any manner, (c) otherwise approached or negotiated with respect
to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security with any person
in any manner, (d) made any general solicitation with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security by means of general advertising or in any other manner, or (e) taken any other action,
which (in the case of any of the acts described in clauses (a) through (e) hereof) would constitute a distribution of the Excess
Servicing Fee Right under the Securities Act of 1933, as amended (the “Securities Act”), or would render the
disposition of the Excess Servicing Fee Right a violation of Section 5 of the Securities Act or any state securities laws, or
would require registration or qualification of the Excess Servicing Fee Right pursuant to the Securities Act or any state securities
laws.

 

    P-1-1

    	 

    

 

	 	Very truly yours,
	 	 
	 	 By:	 
	 	 	Name:
Title:

 

    P-1-2

    	 

    

 

EXHIBIT P-2

 

FORM OF TRANSFEREE CERTIFICATE

FOR TRANSFER OF THE EXCESS SERVICING FEE RIGHTS

 

[Date]

 

Deutsche Mortgage &
Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Helaine M. Kaplan

 

Wells Fargo Bank, National
Association

Commercial Mortgage Servicing

550 South Tryon Street, 14th
Floor

MAC D1086

Charlotte, North Carolina
28202

Attention: DBJPM 2016-SFC - Asset Manager

	 	Re:	Deutsche Mortgage & Asset Receiving Corporation, DBJPM 2016-SFC Mortgage Trust
    Commercial Mortgage Pass-Through Certificates

 

Ladies and Gentlemen:

 

This letter is delivered
to you in connection with the transfer by [_____] (the “Transferor”) to [_____] (the “Transferee”)
of the Excess Servicing Fee Right established under the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust
and Servicing Agreement”) and executed in connection with the DBJPM 2016-SFC securitization transaction. All capitalized
terms used but not otherwise defined herein shall have the respective meanings set forth in the Trust and Servicing Agreement.
The Transferee hereby certifies, represents and warrants to you, as the Depositor and the Master Servicer, that:

 

1.          The Transferee
is acquiring the right to receive Excess Servicing Fees with respect to the Whole Loan as to which [_____] is the applicable Master
Servicer (the “Excess Servicing Fee Right”) for its own account for investment and not with a view to or for
sale or transfer in connection with any distribution thereof, in whole or in part, in any manner which would violate the Securities
Act of 1933, as amended (the “Securities Act”), or any applicable state securities laws.

 

2.          The Transferee
understands that (a) the Excess Servicing Fee Right has not been and will not be registered under the Securities Act or registered
or qualified under any applicable state securities laws, (b) none of the Depositor, the Trustee, Certificate Administrator or the
Certificate Registrar is obligated so to register or qualify the Excess Servicing Fee Right, and (c) the Excess Servicing Fee Right
may not be resold or transferred unless it is (i) registered pursuant to the Securities Act and registered or qualified pursuant
to any applicable state securities laws or (ii) sold or transferred in transactions which are exempt from such registration and
qualification and (A) the Depositor has received a certificate from the prospective transferor

 

    P-2-1

    	 

    

 

substantially in the form attached
as Exhibit P-1 to the Trust and Servicing Agreement, and (B) each of the Master Servicer and the Depositor have received a certificate
from the prospective transferee substantially in the form attached as Exhibit P-2 to the Trust and Servicing Agreement.

 

3.          The Transferee
understands that it may not sell or otherwise transfer the Excess Servicing Fee Right or any interest therein except in compliance
with the provisions of Section 3.12 of the Trust and Servicing Agreement, which provisions it has carefully reviewed.

 

4.          Neither the
Transferee nor anyone acting on its behalf has (a) offered, pledged, sold, disposed of or otherwise transferred the Excess Servicing
Fee Right, any interest in the Excess Servicing Fee Right or any other similar security to any person in any manner, (b) solicited
any offer to buy or accept a pledge, disposition or other transfer of the Excess Servicing Fee Right, any interest in the Excess
Servicing Fee Right or any other similar security from any person in any manner, (c) otherwise approached or negotiated with respect
to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security with any person
in any manner, (d) made any general solicitation with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security by means of general advertising or in any other manner, or (e) taken any other action with
respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security, which
(in the case of any of the acts described in clauses (a) through (e) above) would constitute a distribution of the Excess Servicing
Fee Right under the Securities Act, would render the disposition of the Excess Servicing Fee Right a violation of Section 5 of
the Securities Act or any state securities law or would require registration or qualification of the Excess Servicing Fee Right
pursuant thereto. The Transferee will not act, nor has it authorized or will it authorize any person to act, in any manner set
forth in the foregoing sentence with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right
or any other similar security.

 

5.          The Transferee
has been furnished with all information regarding (a) the Depositor, (b) the Excess Servicing Fee Right and any payments thereon,
(c) the Trust and Servicing Agreement and the Trust Fund created pursuant thereto, (d) the nature, performance and servicing of
the Whole Loan, and (e) all related matters that it has requested.

 

6.          The Transferee
is (a) a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act or (b) an “accredited
investor” as defined in any of paragraphs (1), (2), (3) and (7) of Rule 501(a) under the Securities Act or an entity in which
all of the equity owners are “accredited investors” as defined in any of paragraphs (1), (2), (3) and (7) of Rule 501(a)
under the Securities Act. The Transferee has such knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of an investment in the Excess Servicing Fee Right; the Transferee has sought such accounting,
legal and tax advice as it has considered necessary to make an informed investment decision; and the Transferee is able to bear
the economic risks of such investment and can afford a complete loss of such investment.

 

7.          The Transferee
agrees (i) to keep all information relating to the Trust, the Trust Fund and the parties to the Trust and Servicing Agreement,
and made available to it, confidential, (ii) not to use or disclose such information in any manner which could result in a

 

    P-2-2

    	 

    

 

violation
of any provision of the Securities Act or would require registration of the Excess Servicing Fee Right or any Certificate pursuant
to the Securities Act, and (iii) not to disclose such information, and to cause its officers, directors, partners, employees, agents
or representatives not to disclose such information, in any manner whatsoever, in whole or in part, to any other Person other than
such holder’s auditors, legal counsel and regulators, except to the extent such disclosure is required by law, court order
or other legal requirement or to the extent such information is of public knowledge at the time of disclosure by such holder or
has become generally available to the public other than as a result of disclosure by such holder; provided, however, that such
holder may provide all or any part of such information to any other Person who is contemplating an acquisition of the Excess Servicing
Fee Right if, and only if, such Person (x) confirms in writing such prospective acquisition and (y) agrees in writing to keep such
information confidential, not to use or disclose such information in any manner which could result in a violation of any provision
of the Securities Act or would require registration of the Excess Servicing Fee Right or any Certificates pursuant to the Securities
Act and not to disclose such information, and to cause its officers, directors, partners, employees, agents or representatives
not to disclose such information, in any manner whatsoever, in whole or in part, to any other Person other than such Persons’
auditors, legal counsel and regulators.

 

8.          The
Transferee acknowledges that the holder of the Excess Servicing Fee Right shall not have any rights under the Trust and Servicing
Agreement except as set forth in Section 3.12(a) of the Trust and Servicing Agreement, and that the Excess Servicing Fee Rate
may be reduced to the extent provided in the Trust and Servicing Agreement.

 

	 	Very truly yours,
	 	 
	 	 By:	 
	 	 	Name:
Title:

 

    P-2-3

    	 

    

 

EXHIBIT Q

 

FORM OF POWER OF ATTORNEY BY TRUSTEE

FOR MASTER SERVICER AND SPECIAL SERVICER

RECORDING REQUESTED BY:

{insert address}

 

 

SPACE ABOVE THIS LINE FOR RECORDER’S USE

 

LIMITED POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, that
Wilmington Trust, National Association, a national banking association, incorporated and existing under the laws of the United
States, having its usual place of business at 1100 North Market Street, Wilmington, Delaware 19890 as Trustee (the “Trustee”)
pursuant to that Trust and Servicing Agreement, dated as of August 1, 2016 (the “Agreement”) by and among Deutsche
Mortgage & Asset Receiving Corporation, as Depositor, Wells Fargo Bank, National Association, as the Master Servicer, Pacific
Life Insurance Company, as the Special Servicer, Wilmington Trust, National Association, as Trustee, and Deutsche Bank Trust Company
Americas, as Paying Agent and Custodian, and the Trustee hereby constitutes and appoints the [Master Servicer] [Special Servicer],
by and through the [Master Servicer] [Special Servicer] officers, the Trustee’s true and lawful Attorney-in-Fact, in the
Trustee’s name, place and stead and for the Trustee’s benefit, in connection with the portion of a mortgage loan (the
“Trust Loan”) serviced by the Servicer and the property (“[REO ]Property”) administered by
the [Master Servicer] [Special Servicer] pursuant to the Agreement, to execute and acknowledge in writing or by facsimile stamp
all documents customarily and reasonably necessary and appropriate to effectuate the enumerated transactions described in items
1 through 12 below with respect to the Trust Loan and [REO ]Property; provided however, that
the documents described below may only be executed and delivered by such Attorneys-in-Fact if such documents are required or permitted
under the Agreement. Capitalized terms used herein and not otherwise defined herein have the meanings set forth in the Agreement.

 

		1.	The endorsement on behalf of the Trustee of all checks, drafts and/or other negotiable instruments made payable to the Trustee
and draw upon, replace, substitute, release or amend letters of credit standing as collateral securing the Trust Loan.

		2.	The modification or re-recording of the Mortgage or deed of trust, where said modification or re-recording is solely for the
purpose of correcting the Mortgage or deed of trust to conform same to the original intent of the parties thereto or to correct
title errors discovered after such title insurance was issued; provided that said modification or re-recording, in either instance,
(i) does not adversely affect the lien of the Mortgage or deed of trust as insured and (ii) otherwise conforms to the provisions
of the Agreement.

		3.	The subordination of the lien of the Mortgage or deed of trust to an easement in favor of a public utility company of a government
agency or unit with powers of eminent domain; this section shall include, without limitation, the execution of partial satisfactions/releases,
partial

 

     Q-1

     

    

 

			reconveyances or the execution or requests to trustees to accomplish same.

 

		4.	The conveyance of the property to the mortgage insurer, or the closing of the title to the property to be acquired as real
estate owned, or conveyance of title to real estate owned.

		5.	The completion of loan assumption agreements.

		6.	The full satisfaction/release of the Mortgage or deed of trust or full conveyance upon payment and discharge of all sums secured
thereby, including, without limitation, cancellation of a Note.

 

		7.	The assignment of the Mortgage or deed of trust and a Note, in connection with the repurchase of the mortgage loan secured
and evidenced thereby.

 

		8.	The full assignment of the Mortgage or deed of trust upon payment and discharge of all sums secured thereby in conjunction
with the refinancing thereof, including, without limitation, the assignment of a Note.

 

		9.	The full enforcement of and preservation of the Trustee’s interests in the Notes, the Mortgage or the deed of trust,
and in the proceeds thereof, by way of, including but not limited to, foreclosure, the taking of a deed in lieu of foreclosure,
or the completion of judicial or non-judicial foreclosure or the termination, cancellation or rescission of any such foreclosure,
the initiation, prosecution and completion of eviction actions or proceedings with respect to, or the termination, cancellation
or rescission of any such eviction actions or proceedings, and the pursuit of title insurance, hazard insurance and claims in bankruptcy
proceedings, including, without limitation, any and all of the following acts:

 

		a.	the substitution of trustee(s) serving under a deed of trust, in accordance with state law and the deed of trust;

		b.	the preparation and issuance of statements of breach or non-performance;

		c.	the preparation and filing of notices of default and/or notices of sale;

		d.	the cancellation/rescission of notices of default and/or notices of sale;

		e.	the taking of deed in lieu of foreclosure;

		f.	the filing, prosecution and defense of claims, and to appear on behalf of the Trustee, in bankruptcy cases affecting Notes,
the Mortgage or the deed of trust;

		g.	the preparation and service of notices to quit and all other documents necessary to initiate, prosecute and complete eviction
actions or proceedings;

		h.	the tendering, filing, prosecution and defense, as applicable, of hazard insurance and title insurance claims, including but
not limited to appearing on behalf of the Trustee

 

     Q-2

     

    

 

 

			in quiet title actions; and

 

		i.	the preparation and execution of such other documents and performance of such other actions as may be necessary under the terms
of the Mortgage, deed of trust or state law to expeditiously complete said transactions in paragraphs 9.a. through 9.h. above.

 

		10.	With respect to the sale of property acquired through a foreclosure or deed-in-lieu of foreclosure, including, without limitation,
the execution of the following documentation:

		a.	listing agreements;

		b.	purchase and sale agreements;

		c.	grant/warranty/quit claim deeds or any other deed causing the transfer of title of the property to a party contracted to purchase same;

		d.	escrow instructions; and

		e.	any and all documents necessary to effect the transfer of property.

 

		11.	The modification or amendment of escrow agreements established for repairs to the mortgaged property or reserves for replacement
of personal property.

 

		12.	The execution and delivery of the following:

 

		a.	any and all financing statements, continuation statements and other documents or instruments necessary to maintain the lien
created by the Mortgage, deed of trust or other security document in the Mortgage File or the Mortgaged Property and other related
collateral;

 

		b.	any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, or of partial or full
defeasance, and all other comparable instruments; and

 

		c.	any and all assumptions, modifications, waivers, substitutions, extensions, amendments, consents to transfers of interests
in borrowers, consents to any subordinate financings to be secured by the Mortgaged Property, consents to any mezzanine financing
to be secured by the ownership interests in a borrower, consents to and monitoring of the application of any proceeds of insurance
policies or condemnation awards to the restoration of the Mortgaged Property, [REO] Property or otherwise, documents relating to
the management, operation, maintenance, repair, leasing and marketing of the Mortgaged Property (including agreements and requests
by any borrower with respect to modifications of the standards of operation and management of the Mortgaged Property or the replacement
of asset managers) or the [REO] Property, documents exercising any or all of the rights, powers and privileges granted or provided
to the holder of the Trust Loan under the related loan documents, lease subordination agreements, non-disturbance and attornment
agreements or other 

 

     Q-3

     

    

 

	 	 	leasing or rental arrangements, any easements, covenants, conditions, restrictions, equitable servitudes, or
land use or zoning requirements with respect to the Mortgaged Property or [REO] Property, instruments relating to the custody of
any collateral that now secures or hereafter may secure the Trust Loan and any other consents.

 

The undersigned gives said Attorney-in-Fact full power and authority
to execute such instruments and to do and perform all and every act and thing necessary and proper to carry into effect the power
or powers granted by or under this Limited Power of Attorney as fully as the undersigned might or could do, and hereby does ratify
and confirm to all that said Attorney-in-Fact shall be effective as of the date set forth below.

 

This appointment is to be construed and interpreted as a limited
power of attorney. The enumeration of specific items, rights, acts or powers herein is not intended to, nor does it give rise to,
and it is not to be construed as a general power of attorney.

 

Solely to the extent that the [Master Servicer] [Special Servicer]
has the power to delegate its rights or obligations under the Agreement, the [Master Servicer] [Special Servicer]also has the power
to delegate the authority given to it by Wilmington Trust, National Association, as Trustee, under this Limited Power of Attorney,
for purposes of performing its obligations and duties by executing such additional powers of attorney in favor of its attorneys-in-fact
as are necessary for such purpose. The [Master Servicer] [Special Servicer]’s attorneys-in-fact shall have no greater authority
than that held by the [Master Servicer] [Special Servicer].

 

Nothing contained herein shall: (i) limit in any manner any indemnification
provided to the Trustee under the Agreement, (ii) limit in any manner the rights and protections afforded the Trustee under the
Agreement, or (iii) be construed to grant the [Master Servicer] [Special Servicer]the power to initiate or defend any suit, litigation
or proceeding in the name of Wilmington Trust, National Association except as specifically provided for herein. If the [Master
Servicer] [Special Servicer] receives any notice of suit, litigation or proceeding in the name of Wilmington Trust, National Association,
then the [Master Servicer] [Special Servicer] shall promptly forward a copy of same to the Trustee.

 

This limited power of attorney is not intended to extend the powers
granted to the [Master Servicer] [Special Servicer] under the Agreement or to allow the [Master Servicer] [Special Servicer] to
take any action with respect to Mortgages, deeds of trust or Notes not authorized by the Agreement.

 

The [Master Servicer] [Special Servicer] hereby agrees to indemnify
and hold the Trustee and its directors, officers, employees and agents harmless from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred
by reason or result of the negligent use, or negligent or willful misuse, of this Limited Power of Attorney by the [Master Servicer]
[Special Servicer]. The foregoing indemnity shall survive the termination of this Limited Power of Attorney and the Agreement or
the earlier resignation or removal of the Trustee under the Agreement.

 

     Q-4

     

    

 

This Limited Power of Attorney is entered into and shall be governed
by the laws of the State of New York, without regard to conflicts of law principles of such state.

 

Third parties without actual notice may rely upon the exercise of
the power granted under this Limited Power of Attorney; and may be satisfied that this Limited Power of Attorney shall continue
in full force and effect and has not been revoked unless an instrument of revocation has been made in writing by the undersigned.

 

IN WITNESS WHEREOF, Wilmington Trust, National Association, as Trustee
for the registered holders of DBJPM 2016-SFC Mortgage Trust Commercial Mortgage Pass-Through Certificates has caused its corporate
seal to be hereto affixed and these presents to be signed and acknowledged in its name and behalf by a duly elected and authorized
signatory this ___________ day of ____________.

  

	 	Wilmington Trust, National Association,

as Trustee for the registered holders of DBJPM 2016-SFC
Mortgage Trust Commercial Mortgage Pass-Through Certificates

	 	 
	 	By: 	 	 	 
	 	 	Name:
	 	 	Title:

  

	 	 
	Witness:

                                                
	 
	 	 
	Witness:	 
	 	 

 

     Q-5

     

    

State of Delaware}

County of ____}

On ________________________, before
me, ______________________________ Notary Public, personally appeared ___________________________, who proved to me on the
basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that
he/she executed the same in his/her authorized capacity and that by his/her signature on the instrument the person, or the
entity upon behalf of which the person acted, executed the instrument.

I certify under PENALTY OF PERJURY under
the laws of the State of Delaware that the foregoing paragraph is true and correct.

Witness my hand and official seal. 

		 
	Notary signature	 

     Q-6

     

    

 

EXHIBIT R

 

FORM OF NOTICE OF MEZZANINE COLLATERAL FORECLOSURE

 

Deutsche Bank Trust Company Americas

1761 East St. Andrew Place

Santa Ana, California 92705

Attention: Trust Administration – DB16SF

 

Wilmington Trust, National Association

Rodney Square North

1100 North Market Street

Wilmington, Delaware 19890

 

Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: DBJPM 2016-SFC Asset Manager

 

Pacific Life Insurance Company

700 Newport Center Drive

Newport Beach, California 92660-6397

Attention: Chris Dallas, Vice President – Investment Counsel

 

In accordance with
Section 3.23(h) of the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Agreement”), by
and among Deutsche Mortgage & Asset Receiving Corporation, as Depositor, Wells Fargo Bank, National Association, as the Master
Servicer, Pacific Life Insurance Company, as the Special Servicer, Wilmington Trust, National Association, as Trustee, and Deutsche
Bank Trust Company Americas, as the Certificate Administrator, Paying Agent and Custodian, with respect to the above-referenced
certificates, the undersigned hereby notifies you that the following Mezzanine Lenders have accelerated the Mezzanine Loan and/or
have commenced foreclosure proceedings against the related mezzanine collateral:

[INSERT NAME]

As set forth in
the Agreement, you are required to cause such Mezzanine Lender to re-submit any Investor Certification previously delivered by
such Mezzanine Lender, prior to allowing it access to the information on the Certificate Administrator’s website, to the
extent such information is accessible only to Privileged Persons.

 

     R-1

     

    

Capitalized terms
used but not defined herein shall have the meanings ascribed thereto in the Agreement. 

	 	 
	 		[Master
    Servicer] [Special Servicer] 

    [Certificate Administrator] [Trustee]
	 	 	 	 
	 	 	Name:

	 	 	Title:

 

     R-2

     

    

 

EXHIBIT
S

ADDITIONAL FORM 10-D DISCLOSURE

For so long as any Other Securitization
Trust is subject to the reporting requirements of the Exchange Act, the parties identified in the “Party Responsible”
column (with each Servicing Function Participant deemed to be responsible for the following items for which the party that retained
such Servicing Function Participant is responsible) are obligated pursuant to Section 11.04 of the Trust and Servicing Agreement
to disclose to each Other Exchange Act Reporting Party and the Other Depositor any information described in the corresponding Form
10-D Item described in the “Item on Form 10-D” column to the extent such party has actual knowledge (and in the case
of financial statements required to be provided in connection with Item 6 below, possession) of such information (other than information
as to itself). Each of the Certificate Administrator, the Paying Agent, the Trustee, the Master Servicer, the Special Servicer
(in its capacity as such), each Other Exchange Act Reporting Party and the Other Depositor shall be entitled to rely on the accuracy
of the Offering Circular and the offering materials with respect to any related Other Securitization Trust (other than information
with respect to itself that is set forth in or omitted from such offering materials or the Offering Circular), in the absence of
specific written notice to the contrary from the Depositor, Other Depositor or Trust Loan Sellers. Each of the Certificate Administrator,
the Paying Agent, the Trustee, the Master Servicer, the Special Servicer (in its capacity as such), each Other Exchange Act Reporting
Party and the Other Depositor shall be entitled to conclusively assume that there is no “significant obligor” other
than a party identified as such in the prospectus supplement relating to the Other Securitization. For this DBJPM 2016-SFC Trust
and Servicing Agreement and any Other Securitization Trust, each of the Certificate Administrator, the Paying Agent, the Trustee,
the Master Servicer, the Special Servicer (in its capacity as such), each Other Exchange Act Reporting Party and the Other Depositor
shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative instruments within the meaning
of Items 1114 or 1115 of Regulation AB other than a party identified as such in the Offering Circular and the offering materials
with respect to any related Other Securitization Trust.

 

	Item
    on Form 10-D	Party
    Responsible
	Item
    1: Distribution and Pool Performance Information: Only with respect to any information required by 1121 which is NOT included
    on the Distribution Date Statement	·     Each
                                         Master Servicer (only with respect to 1121(a)(12) as to non Specially Serviced Loans)

        ·     Special
        Servicer (only with respect to 1121(a)(12) as to Specially Serviced Loans)

        ·     Depositor

        ·     Certificate
        Administrator

        ·     Each
        Trust Loan Seller (only with respect to 1121(c)(2))

	Item
    2: Legal Proceedings:

    Item 1117 of Regulation AB (to the extent material to Certificateholders)	·     Master
                                         Servicer (as to itself)

        ·     Special
        Servicer (as to itself)

        ·     Trustee
        (as to itself)

        ·     Certificate
        Administrator (as to itself)

        ·     Depositor (as to itself)

 

     S-1

     

    

 

 

		·     Any
                                         other Reporting Servicer (as to itself)

        ·    Trustee/Certificate
        Administrator/Master Servicer/ Depositor/Special        Servicer as to the Trust

        ·     Each
        Trust Loan Seller

        ·     Originators
        under Item 1110 of Regulation AB (to be provided by the Depositor)

        ·     Party
        under Item 1100(d)(1) of Regulation AB (to be provided by the Depositor)

	Item
    3: Sale of Securities and Use of Proceeds	·     Depositor
	Item
    4: Defaults Upon Senior Securities	·     Certificate
                                         Administrator

        ·     Trustee

	Item
    5: Submission of Matters to a Vote of Security Holders	·     Certificate
    Administrator
	Item
    6: Significant Obligors of Pool Assets	·     Master
    Servicer
	Item
    7: Significant Enhancement Provider Information	·     N/A
	Item
    8: Other Information (information required to be disclosed on Form 8-K that was not properly disclosed)	·     Any
    party responsible for disclosure items on Form 8-K to the extent of such items
	Item
    9: Exhibits	·     Depositor
                                         (exhibits required by Item 601 of Regulation S-K, such as material agreements)

        ·     Certificate
        Administrator (Monthly Statement to Certificateholders)

 

     S-2

     

    

 

EXHIBIT T

 

ADDITIONAL FORM 10-K DISCLOSURE

 

For so long as any Other Securitization Trust is
subject to the reporting requirements of the Exchange Act, the parties identified in the “Party Responsible” column
(with each Servicing Function Participant deemed to be responsible for the following items for which the party that retained such
Servicing Function Participant is responsible) are obligated pursuant to Section 11.05 of the Trust and Servicing Agreement
to disclose to each Other Exchange Act Reporting Party and the Other Depositor any information described in the corresponding Form
10-K Item described in the “Item on Form 10-K” column to the extent such party has actual knowledge (and in the case
of financial statements required to be provided in connection with 1112(b) below, possession) of such information (other than information
as to itself). Each of the Certificate Administrator, the Paying Agent, the Trustee, the Master Servicer, the Special Servicer
(in its capacity as such), each Other Exchange Act Reporting Party and the Other Depositor shall be entitled to rely on the accuracy
of the Offering Circular and the offering materials with respect to any related Other Securitization Trust (other than information
with respect to itself that is set forth in or omitted from such offering materials or the Offering Circular), in the absence of
specific written notice to the contrary from the Depositor, the Other Depositor or Trust Loan Sellers. Each of the Certificate
Administrator, the Paying Agent, the Trustee, the Master Servicer, the Special Servicer (in its capacity as such), each Other Exchange
Act Reporting Party and the Other Depositor shall be entitled to conclusively assume that there is no “significant obligor”
other than a party identified as such in the prospectus supplement relating to the Other Securitization. For this DBJPM 2016-SFC
Trust and Servicing Agreement and any Other Securitization, each of the Certificate Administrator, the Paying Agent, the Trustee,
the Master Servicer, the Special Servicer (in its capacity as such), each Other Exchange Act Reporting Party and the Other Depositor
shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative instruments within the meaning
of Items 1114 or 1115 of Regulation AB other than a party identified as such in the Offering Circular and the offering materials
with respect to any related Other Securitization Trust.

 

	Item
    on Form 10-K	Party
    Responsible
	Item
    1B: Unresolved Staff Comments	·    Depositor
	Item
    9B: Other Information (information required to be disclosed on Form 8-K that was not properly disclosed)	·    Any
    party responsible for disclosure items on Form 8-K to the extent of such items
	Item
    15: Exhibits, Financial Statement Schedules	·    Certificate
                                         Administrator

        ·    Depositor

	Additional
    Item:

    Disclosure per Item 1112(b)(1) of Regulation AB	·    Master
    Servicer
	Additional
    Item:

    Disclosure per Items 1114(b)(2) and 1115(b) of Regulation AB	·    N/A

 

    	 	T-1 	 

     

    

 

	Additional
    Item:

    Disclosure per Item 1117 of Regulation AB (to the extent material to Certificateholders)	·    Master
Servicer (as to itself) 

        

        ·    Special
Servicer (as to itself)  

        ·    Certificate
Administrator (as to itself) 

        ·    Trustee
(as to itself) 

        ·    Depositor
(as to itself) 

        ·    Any
other Reporting Servicer (as to itself)  

        ·    Trustee/Certificate
          Administrator/Master Servicer/Depositor/Special Servicer as to the
Trust 

        ·    Each
Trust Loan Seller 

        ·    Originators
under Item 1110 of Regulation AB (to be provided by the Depositor) 

        ·    Party
        under Item 1100(d)(1) of Regulation AB (to be provided by the Depositor)

	Additional
    Item:

    Disclosure per Item 1119 of Regulation AB	·    Master
Servicer (as to itself) (to the extent material to Certificateholders and only as to affiliations under 1119(a) with the Trustee,
Certificate Administrator, Special Servicer or a sub-servicer meeting any of the descriptions in Item 1108(a)(3)) 

        ·    Special
Servicer (as to itself) (to the extent material to Certificateholders and only as to affiliations under 1119(a) with the Trustee,
Certificate Administrator, Master Servicer or a sub-servicer meeting any of the descriptions in Item 1108(a)(3)) 

        ·    Certificate
Administrator (as to itself) (to the extent material to Certificateholders) 

        ·    Trustee
(as to itself) (to the extent material to Certificateholders) 

        ·    Depositor
(as to itself) 

        ·    Depositor
(as to the Trust) 

        ·    Each
Trust Loan Seller 

        ·    Originators
under Item 1110 of Regulation AB (to be provided by the Depositor) 

        ·    Party
        under Item 1100(d)(1) of Regulation AB (to be provided by the Depositor)

 

    	 	T-2 	 

     

    

 

EXHIBIT U

 

FORM 8-K DISCLOSURE INFORMATION

 

For so long as any Other Securitization Trust is
subject to the reporting requirements of the Exchange Act, the parties identified in the “Party Responsible” column
(with each Servicing Function Participant deemed to be responsible for the following items for which the party that retained such
Servicing Function Participant is responsible) are obligated pursuant to Section 11.06 of the Trust and Servicing Agreement to
disclose to each Other Exchange Act Reporting Party and the Other Depositor the occurrence of any event described in the corresponding
Form 8-K Item described in the “Item on Form 8-K” column to the extent such party has actual knowledge of such information
(other than information as to itself). Each of the Certificate Administrator, the Paying Agent, the Trustee, the Master Servicer,
the Special Servicer (in its capacity as such), each Other Exchange Act Reporting Party and the Other Depositor shall be entitled
to rely on the accuracy of the Offering Circular and the offering materials with respect to any related Other Securitization Trust
(other than information with respect to itself that is set forth in or omitted from such offering materials or the Offering Circular),
in the absence of specific written notice to the contrary from the Depositor, the Other Depositor or Trust Loan Sellers. Each of
the Certificate Administrator, the Paying Agent, the Trustee, the Master Servicer, the Special Servicer (in its capacity as such),
each Other Exchange Act Reporting Party and the Other Depositor shall be entitled to conclusively assume that there is no “significant
obligor” other than a party identified as such in the prospectus supplement relating to the Other Securitization. For this
DBJPM 2016-SFC Trust and Servicing Agreement and any Other Securitization, each of the Certificate Administrator, the Paying Agent,
the Trustee, the Master Servicer, the Special Servicer (in its capacity as such), each Other Exchange Act Reporting Party and the
Other Depositor shall be entitled to assume that there is no provider of credit enhancement, liquidity or derivative instruments
within the meaning of Items 1114 or 1115 of Regulation AB other than a party identified as such in the Offering Circular and the
offering materials with respect to any related Other Securitization Trust.

  

	Item
    on Form 8-K	Party
    Responsible 
	Item
    1.01- Entry into a Material Definitive Agreement

    

    Disclosure is required regarding entry into or amendment of any definitive agreement that is material to the securitization,
    even if depositor is not a party. 

    

    Examples: servicing agreement, custodial agreement.	·    Trustee/Certificate
    Administrator/Master Servicer/Depositor/Special Servicer as to the Trust (only as to the agreements such entity is a party
    to or entered into on behalf of the Trust)
	Item
    1.02- Termination of a Material Definitive Agreement

    

    Disclosure is required regarding termination of any definitive agreement that is material to the securitization (other than
    expiration in accordance with its terms), even if depositor is not a party. 

    

    Examples: servicing agreement, custodial agreement.	·    Trustee/Certificate
    Administrator/Master Servicer/Depositor/Special Servicer as to the Trust (only as to the agreements such entity is a party
    to or entered into on behalf of the Trust)
	Item
    1.03- Bankruptcy or Receivership	·  
                                          Depositor

        · 
          Each Trust Loan Seller

 

    	 	U-1 	 

     

    

 

	Item
    on Form 8-K	Party
    Responsible 
	Item
    2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
    Arrangement

    

    Includes an early amortization, performance trigger or other event, including event of default, that would materially alter
    the payment priority/distribution of cash flows/amortization schedule.

    

    Disclosure will be made of events other than waterfall triggers which are disclosed in the monthly statements to the certificateholders.	·    Depositor

        · 
          Certificate Administrator

         

	Item
    3.03- Material Modification to Rights of Security Holders

    

    Disclosure is required of any material modification to documents defining the rights of Certificateholders, including the
    Trust and Servicing Agreement.	·    Certificate
    Administrator
	Item
    5.03- Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year

    

    Disclosure is required of any amendment “to the governing documents of the issuing entity”.	·    Depositor
	Item
    5.06 – Change in Shell Company Status	·    Depositor
	Item
    5.07 – Submission of Matters to a Vote of Security Holders	·    Depositor
	Item
    5.08 – Shareholder Director Nomination	·    Depositor
	Item
    6.01- ABS Informational and Computational Material	·  
                                          Depositor

	Item
    6.02- Change of Servicer or Trustee 

    

    Requires disclosure of any removal, replacement, substitution or addition of any master servicer, affiliated servicer, other
    servicer servicing 10% or more of pool assets at time of report, other material servicers or trustee.	·  
                                          Master Servicer (as to itself or a servicer retained by it)

        ·    Special
        Servicer (as to itself or a servicer retained by it)

        ·    Certificate
        Administrator (as to itself or an entity retained by it)

        ·    Trustee

        ·    Depositor

	Reg
    AB disclosure about any new servicer or master servicer is also required.	·  
      Master Servicer or Special Servicer, as applicable
	Reg
    AB disclosure about any new Trustee is also required.	·     Trustee
	Reg
    AB disclosure about any new Certificate Administrator is also required.	·    Certificate
    Administrator
	Item
    6.03- Change in Credit Enhancement or Other External Support	N/A
	Item
    6.04- Failure to Make a Required Distribution	· 
      Certificate Administrator
	Item
    6.05- Securities Act Updating Disclosure	·    Depositor
	Item
    7.01- Regulation FD Disclosure	·    Depositor
	Item
    8.01 – Other Events

    

    Any event, with respect to which information is not otherwise called for in Form 8-K, that the registrant deems of importance
    to certificateholders.	·    Depositor
	Item
    9.01 – Financial Statements and Exhibits	·    Responsible
    party for reporting/disclosing the financial statement or exhibit

 

    	 	U-2 	 

     

    

 

EXHIBIT V

 

ADDITIONAL DISCLOSURE NOTIFICATION

 

**SEND VIA FAX TO (410)715-2380 AND VIA EMAIL TO

cts.sec.notifications@wellsfargo.com AND VIA OVERNIGHT MAIL TO THE ADDRESSES 

IMMEDIATELY BELOW**

 

[Other Depositor Address]

 

[Each Other Exchange Act Reporting Party Address]

 

		Re:	**Additional Form [10-D][10-K][8-K] Disclosure Required **

 

Ladies and Gentlemen:

 

In accordance with Section [11.04][11.05][11.06]
of the Trust and Servicing Agreement, dated as of August 1, 2016 (the “Trust and Servicing Agreement”), entered
into between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master
servicer (the “Master Servicer”), Pacific Life Insurance Company, as special servicer (the “Special
Servicer”), Wilmington Trust, National Association, as trustee and Deutsche Bank Trust Company Americas, as certificate
administrator (in such capacity, the “Certificate Administrator”), paying agent and custodian, the undersigned,
as _______________, hereby notifies you that certain events have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K].

 

Description of Additional Form [10-D][10-K][8-K]
Disclosure:

 

    	 	V-1 	 

     

    

 

List of any Attachments hereto to be included in
the Additional Form [10-D][10-K][8-K] Disclosure:

 

Any inquiries related to this notification should
be directed to ____________, phone number: ____________; email address: ____________.

 

	 	[NAME OF PARTY], as [role]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    	 	V-2 	 

     

    

 

EXHIBIT W

 

INITIAL SUB-SERVICERS

  

NONE

 

    	 	W-1 	 

     

    

 

EXHIBIT X

 

FORM OF BACKUP CERTIFICATION

 

DBJPM 2016-SFC Mortgage Trust (the “Trust”)

 

I, [identify the certifying individual],
a [identify position] of [identify party], as [identify role] under that certain
Trust and Servicing Agreement dated as of August 1, 2016 (the “Trust and Servicing Agreement”), entered into
between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master servicer
(the “Master Servicer”), Pacific Life Insurance Company, as special servicer (the “Special Servicer”),
Wilmington Trust, National Association, as trustee (the “Trustee”), and Deutsche Bank Trust Company Americas,
as certificate administrator (the “Certificate Administrator”), paying agent and custodian, on behalf of the
[identify role], certify to [Name of Certifying Person(s) for Sarbanes-Oxley Certification], the Depositor, and its officers, directors
and affiliates, and with the knowledge and intent that they will rely upon this certification, that:

 

		1.	Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant
Period”), all servicing information and all required reports required to be submitted by the [identify role] to the applicable
Other Exchange Act Reporting Party pursuant to the Trust and Servicing Agreement for inclusion in the annual report on Form 10-K
for the Relevant Period and inclusion in all reports on Form 10-D or Form 8-K (the “Reports”) have been submitted
by the [identify role] to the Master Servicer, the Depositor, the Trustee or the Certificate Administrator, as applicable, for
inclusion in these reports;

 

		2.	Based on my knowledge, the [identify role] information contained in the Reports, taken as a whole,
does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made
therein, in light of the circumstances under which such statements were made, not misleading with respect to the period covered
by these reports;

 

		3.	I am, or an officer under my supervision is, responsible for reviewing the activities performed
by the [identify role] under the Trust and Servicing Agreement and based upon my knowledge and the annual compliance reviews conducted
in preparing the servicer compliance statements required in this report under Item 1123 of Regulation AB with respect to the [identify
role], and except as disclosed in the compliance certificate delivered by the [identify role] under Section 11.07 of the Trust
and Servicing Agreement, the [identify role] has fulfilled its obligations under the Trust and Servicing Agreement in all material
respects in the year to which such report applies;

 

		4.	The accountants that are to deliver the annual attestation report on assessment of compliance with
the Relevant Servicing Criteria in respect of the [identify role] with respect to the Trust’s fiscal year _____ have been
provided all information relating to the [identify role] assessment of compliance with the Relevant Servicing Criteria, in order
to enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB;
and

 

    	 	X-1 	 

     

    

 

		5.	The report on assessment of compliance with servicing criteria applicable to the [identify role]
for asset-backed securities with respect to the [identify role] or any Servicing Function Participant retained by the [identify
role] and related attestation report on assessment of compliance with servicing criteria applicable to it required to be included
in the annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules
13a-18 and 15d-18 has been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form
10-K. Any material instances of noncompliance described in such reports have been provided to the Certificate Administrator and
the Depositor for disclosure in such annual report on Form 10-K.

 

Capitalized terms used but not
defined herein have the meanings set forth in the Trust and Servicing Agreement.

 

	Date:	 	 

 

	 	[IDENTIFY
PARTY]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    	 	X-2 	 

     

    

 

SCHEDULE I

 

SERVICING CRITERIA TO BE ADDRESSED IN
ASSESSMENT OF COMPLIANCE

 

The assessment of compliance
to be delivered shall address, at a minimum, the criteria identified below as “Relevant Servicing Criteria” (with each
Servicing Function Participant deemed to be responsible for the items applicable to the functions it is performing and for which
the party that retained such Servicing Function Participant is responsible):

 

	Relevant Servicing Criteria	Applicable Party(ies)
	Reference	Criteria	 
	 	General Servicing Considerations	 
	1122(d)(1)(i)	Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.	Master Servicer

Special Servicer

Cert. Admin.
	1122(d)(1)(ii)	If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.	Master Servicer

Special Servicer

Cert. Admin.
	1122(d)(1)(iii)	Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained.	N/A
	1122(d)(1)(iv)	A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.	Master Servicer

Special Servicer
	1122(d)(1)(v)	Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information.	
        Cert. Admin.

        Master Servicer

        Special Servicer

	 	Cash Collection and Administration	 
	1122(d)(2)(i)	Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.	Master Servicer

Special Servicer
	1122(d)(2)(ii)	Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	Cert. Admin.

 

    Sch. I

    	 

    

 

	Relevant Servicing Criteria	Applicable Party(ies)
	Reference	Criteria	 
	1122(d)(2)(iii)	Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.	Trustee

Master Servicer 

Special Servicer
	1122(d)(2)(iv)	The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.	Master Servicer

Special Servicer

Cert. Admin.
	1122(d)(2)(v)	Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.	Master Servicer

Special Servicer

Cert. Admin.
	1122(d)(2)(vi)	Unissued checks are safeguarded so as to prevent unauthorized access.	Master Servicer

Special Servicer

Cert. Admin.
	1122(d)(2)(vii)	Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.	Master Servicer

Special Servicer

Cert. Admin.
	 	Investor Remittances and Reporting	 

 

    Sch. I

    	 

    

 

	Relevant Servicing Criteria	Applicable Party(ies)
	Reference	Criteria	 
	1122(d)(3)(i)	Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Master Servicer.	Cert. Admin.
	1122(d)(3)(ii)	Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.	Cert. Admin.
	1122(d)(3)(iii)	Disbursements made to an investor are posted within two business days to the Master Servicer’s investor records or Certificate Administrator’s investor records, or such other number of days specified in the transaction agreements.	Cert. Admin.
	1122(d)(3)(iv)	Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	Cert. Admin.
	 	Pool Asset Administration	 
	1122(d)(4)(i)	Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents.	Master Servicer

Special Servicer

Custodian
	1122(d)(4)(ii)	Mortgage loan and related documents are safeguarded as required by the transaction agreements.	Custodian
	1122(d)(4)(iii)	Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.	Master Servicer

Special Servicer
	1122(d)(4)(iv)	Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents.	Master Servicer

 

    Sch. I

    	 

    

 

	Relevant Servicing Criteria	Applicable Party(ies)
	Reference	Criteria	 
	1122(d)(4)(v)	The Master Servicer’s records regarding the mortgage loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance.	Master Servicer
	1122(d)(4)(vi)	Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.	Master Servicer

Special Servicer
	1122(d)(4)(vii)	Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.	Special Servicer
	1122(d)(4)(viii)	Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).	Master Servicer

Special Servicer
	1122(d)(4)(ix)	Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents.	Master Servicer
	1122(d)(4)(x)	Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements.	Master Servicer

 

    Sch. I

    	 

    

 

	Relevant Servicing Criteria	Applicable Party(ies)
	Reference	Criteria	 
	1122(d)(4)(xi)	Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	Master Servicer
	1122(d)(4)(xii)	Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.	Master Servicer
	1122(d)(4)(xiii)	Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.	Master Servicer
	1122(d)(4)(xiv)	Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	Master Servicer
	1122(d)(4)(xv)	Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements.	N/A

 

    Sch. IExhibit 4.4

 

 

EXECUTION VERSION

  

	
         

        DEUTSCHE MORTGAGE & ASSET RECEIVING
        CORPORATION,

        Depositor,

          

        WELLS FARGO BANK, NATIONAL ASSOCIATION,

        Master Servicer,

          

        CWCapital
        Asset Management LLC,

        Special Servicer,

          

        WILMINGTON
        TRUST, NATIONAL ASSOCIATION,

        Trustee,

          

        WELLS
        FARGO BANK, NATIONAL ASSOCIATION,

        Certificate Administrator, Paying Agent and Custodian,

          

        and

          

        PARK BRIDGE LENDER SERVICES LLC,

        Operating Advisor

         

	POOLING AND SERVICING AGREEMENT

Dated as of October 1, 2015
	 
	COMM 2015-CCRE26 Mortgage Trust

Commercial Mortgage Pass-Through Certificates
	 

 

    	 

    	 

    

 

TABLE
OF CONTENTS

  

	 	 	 	Page
	 	 	 
	 	ARTICLE
    I	 
	 	 	 
	 	DEFINITIONS	 
	 	 	 
	Section 1.01	Defined Terms	4
	Section 1.02	Certain Calculations	101
	Section 1.03	Certain Constructions	105
	Section 1.04	Certain Matters
    Relating to the Non-Serviced Mortgage Loan	105
	 	 	 
	 	ARTICLE
    II	 
	 	 	 
	 	CONVEYANCE
    OF MORTGAGE LOANS;

    ORIGINAL ISSUANCE OF CERTIFICATES	 
	 	 	 
	Section 2.01	Conveyance of
    Mortgage Loans; Assignment of Mortgage Loan Purchase Agreements	106
	Section 2.02	Acceptance by
    Custodian and the Trustee	116
	Section 2.03	Representations,
    Warranties and Covenants of the Depositor; Repurchase and Substitution of Mortgage Loans	118
	Section 2.04	Representations,
    Warranties and Covenants of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee and the
    Operating Advisor	127
	Section 2.05	Execution and
    Delivery of Certificates; Issuance of Lower-Tier Regular Interests	134
	Section 2.06	Miscellaneous
    REMIC and Grantor Trust Provisions	135
	 	 	 
	 	ARTICLE
    III	 
	 	 	 
	 	ADMINISTRATION
    AND SERVICING

    OF THE TRUST FUND	 
	 	 	 
	Section 3.01	The Master Servicer
To Act as Master Servicer; Special Servicer To Act as Special Servicer; Administration of the Mortgage Loans and the Serviced
Companion Loans	135
	Section 3.02	Liability of
    the Master Servicer and the Special Servicer When Sub-Servicing	141
	Section 3.03	Collection of
Mortgage Loan and Serviced Companion Loan Payments	141
	Section 3.04	Collection of
    Taxes, Assessments and Similar Items; Escrow Accounts	142
	Section 3.05	Collection Accounts;
    Excess Liquidation Proceeds Account; Distribution Accounts; Interest Reserve Account and Serviced Loan Combination Collection
    Accounts	145

 

    	-i-

    	 

    

 

	Section 3.06	Permitted
Withdrawals from the Collection Accounts, the Serviced Loan Combination Collection Accounts and the Distribution Accounts; Trust
Ledger	153
	Section 3.07	Investment of
    Funds in the Collection Accounts, the Serviced Loan Combination Collection Accounts, the Distribution Accounts, the Interest
    Reserve Account, the Excess Liquidation Proceeds Account, the REO Account, the Lock-Box Accounts, the Cash Collateral Accounts
    and the Reserve Accounts	173
	Section 3.08	Maintenance
    of Insurance Policies and Errors and Omissions and Fidelity Coverage	175
	Section 3.09	Enforcement
    of Due-on-Sale Clauses; Assumption Agreements; Defeasance Provisions	180
	Section 3.10	Appraisals;
Realization upon Defaulted Mortgage Loans	187
	Section 3.11	Custodian to
Cooperate; Release of Mortgage Files	193
	Section 3.12	Servicing Fees,
Trustee/Certificate Administrator Fees and Special Servicing Compensation	194
	Section 3.13	Reports to the
Certificate Administrator; Collection Account Statements	202
	Section 3.14	Access to Certain
Documentation	208
	Section 3.15	Title and Management
of REO Properties and REO Accounts	217
	Section 3.16	Sale of Specially
Serviced Loans and REO Properties	222
	Section 3.17	Additional Obligations
of the Master Servicer and the Special Servicer; Inspections	227
	Section 3.18	Authenticating
Agent	229
	Section 3.19	Appointment
    of Custodians	230
	Section 3.20	Lock-Box Accounts,
Cash Collateral Accounts, Escrow Accounts and Reserve Accounts	231
	Section 3.21	Property Advances	231
	Section 3.22	Appointment
    and Replacement of Special Servicer	235
	Section 3.23	Transfer of
Servicing Between the Master Servicer and the Special Servicer; Record Keeping; Asset Status Report	241
	Section 3.24	Special Instructions
for the Master Servicer and/or Special Servicer	246
	Section 3.25	Certain Rights
and Obligations of the Master Servicer and/or the Special Servicer	247
	Section 3.26	Modification,
Waiver, Amendment and Consents	249
	Section 3.27	Certain Intercreditor
Matters Relating to the Serviced Loan Combinations	255
	Section 3.28	Directing Holder
Contact with the Master Servicer and the Special Servicer	259
	Section 3.29	Controlling
Class Certificateholders and the Controlling Class Representative; Certain Rights and Powers of the Directing Holder	259
	Section 3.30	No Downgrade
Confirmation	262
	Section 3.31	Appointment
and Duties of the Operating Advisor	265
	Section 3.32	Delivery of
Excluded Information to the Certificate Administrator	269
	Section 3.33	Certain Matters
with Respect to Joint Mortgage Loans	270
	Section 3.34	Loan Registry	274

 

    	-ii-

    	 

    

 

	 	ARTICLE
    IV	 
	 	 	 
	 	DISTRIBUTIONS
    TO CERTIFICATEHOLDERS	 
	 	 	 
	Section 4.01	Distributions	274
	Section 4.02	Statements to
Certificateholders; Reports by Certificate Administrator; Other Information Available to the Holders and Others	285
	Section 4.03	Compliance with
Withholding Requirements	297
	Section 4.04	REMIC Compliance	297
	Section 4.05	Imposition of
    Tax on the Trust Fund	299
	Section 4.06	Remittances	301
	Section 4.07	P&I Advances	301
	Section 4.08	Appraisal Reductions	307
	Section 4.09	Grantor Trust
Reporting	309
	 	 	 
	 	ARTICLE
    V	 
	 	 	 
	 	THE
    CERTIFICATES	 
	 	 	 
	Section 5.01	The Certificates	311
	Section 5.02	Registration,
Transfer and Exchange of Certificates	315
	Section 5.03	Mutilated, Destroyed,
Lost or Stolen Certificates	325
	Section 5.04	Appointment
of Paying Agent	326
	Section 5.05	Access to Certificateholders’
Names and Addresses; Special Notices	326
	Section 5.06	Actions of Certificateholders	326
	Section 5.07	Rule 144A Information	327
	 	 	 
	 	ARTICLE
    VI	 
	 	THE
    DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE DIRECTING HOLDER AND THE OPERATING ADVISOR	 
	 	 	 
	Section 6.01	Liability of
    the Depositor, the Master Servicer, the Special Servicer and the Operating Advisor	327
	Section 6.02	Merger or Consolidation
of the Master Servicer, the Special Servicer, the Depositor or the Operating Advisor	327
	Section 6.03	Limitation on
Liability of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor and Others	328
	Section 6.04	Limitation on
Resignation of the Master Servicer, the Special Servicer and the Operating Advisor; Termination of the Master Servicer, the Special
Servicer and the Operating Advisor	331
	Section 6.05	Rights of the
Depositor and the Trustee in Respect of the Master Servicer and the Special Servicer	332
	Section 6.06	The Master Servicer
    or Special Servicer as Owners of a Certificate	333
	Section 6.07	The Directing
Holder	334
	Section 6.08	Rights of Non-Directing
    Holders	337

 

    	-iii-

    	 

    

	 	 	 
	 	ARTICLE
    VII	 
	 	 	 
	 	SERVICER
    AND OPERATING ADVISOR TERMINATION	 
	 	 	 
	Section 7.01	Servicer Termination
Events	338
	Section 7.02	Trustee to Act;
    Appointment of Successor	346
	Section 7.03	Notification
to Certificateholders and Other Persons	347
	Section 7.04	Other Remedies
of Trustee	348
	Section 7.05	Waiver of Past
Servicer Termination Events and Operating Advisor Termination Events; Termination	348
	Section 7.06	Trustee as Maker
of Advances	349
	Section 7.07	Termination
    of the Operating Advisor	349
	 	 	 
	 	ARTICLE
    VIII	 
	 	 	 
	 	CONCERNING
    THE TRUSTEE AND CERTIFICATE ADMINISTRATOR	 
	 	 	 
	Section 8.01	Duties of Trustee
    and Certificate Administrator	352
	Section 8.02	Certain Matters
Affecting the Trustee and the Certificate Administrator	355
	Section 8.03	Trustee and
    Certificate Administrator Not Liable for Certificates or Mortgage Loans	357
	Section 8.04	Trustee and
Certificate Administrator May Own Certificates	359
	Section 8.05	Payment of Trustee’s
    and Certificate Administrator’s Fees and Expenses; Indemnification	359
	Section 8.06	Eligibility
Requirements for Trustee and Certificate Administrator	361
	Section 8.07	Resignation
    and Removal of Trustee and Certificate Administrator	363
	Section 8.08	Successor Trustee
and Certificate Administrator	365
	Section 8.09	Merger or Consolidation
of Trustee or Certificate Administrator	365
	Section 8.10	Appointment
of Co-Trustee or Separate Trustee	366
	 	 	 
	 	ARTICLE
    IX	 
	 	 	 
	 	TERMINATION	 
	 	 	 
	Section 9.01	Termination	367
	 	 	 
	 	ARTICLE
    X	 
	 	 	 
	 	EXCHANGE
    ACT REPORTING AND REGULATION AB COMPLIANCE	 
	 	 	 
	Section 10.01	Intent of the
    Parties; Reasonableness	372
	Section 10.02	Notification
Requirements and Deliveries in Connection with securitization of a Serviced Companion Loan	373

 

    	-iv-

    	 

    

 

	Section 10.03	Information
to be Provided by the Master Servicer and the Special Servicer	375
	Section 10.04	Information
to be Provided by the Trustee	376
	Section 10.05	Filing Obligations	377
	Section 10.06	Form 10-D Filings	379
	Section 10.07	Form 10-K Filings	381
	Section 10.08	Sarbanes-Oxley
Certification	385
	Section 10.09	Form 8-K Filings	386
	Section 10.10	Suspension of
Exchange Act Filings; Incomplete Exchange Act Filings; Amendments to Exchange Act Reports	387
	Section 10.11	Annual Compliance
Statements	388
	Section 10.12	Annual Reports
on Assessment of Compliance with Servicing Criteria	389
	Section 10.13	Annual Independent
Public Accountants’ Servicing Report	392
	Section 10.14	Exchange Act
Reporting Indemnification	393
	Section 10.15	Amendments	396
	Section 10.16	Exchange Act
Report Signatures; Delivery of Notices; Interpretation of Grace Periods	396
	Section 10.17	Termination
of the Certificate Administrator	397
	 	 	 
	 	ARTICLE
    XI	 
	 	 	 
	 	MISCELLANEOUS
    PROVISIONS	 
	Section 11.01	Counterparts	398
	Section 11.02	Limitation on
Rights of Certificateholders	398
	Section 11.03	Governing Law	399
	Section 11.04	Waiver of Jury
Trial; Consent to Jurisdiction	399
	Section 11.05	Notices	400
	Section 11.06	Severability
of Provisions	406
	Section 11.07	Notice to the
Depositor and Each Rating Agency	406
	Section 11.08	Amendment	408
	Section 11.09	Confirmation
    of Intent	412
	Section 11.10	No Intended
    Third-Party Beneficiaries	412
	Section 11.11	Entire Agreement	412
	Section 11.12	Third Party
    Beneficiaries	413
	Section 11.13	Precautionary
    Trust Indenture Act Provisions	413

 

    	-v-

    	 

    

 

TABLE
OF EXHIBITS

 

	Exhibit A-1	Form of Class A-1 Certificate
	Exhibit A-2	Form of Class A-2 Certificate
	Exhibit A-3	Form of Class A-SB Certificate
	Exhibit A-4	Form of Class A-3 Certificate
	Exhibit A-5	Form of Class A-4 Certificate
	Exhibit A-6	Form of Class A-M Certificate
	Exhibit A-7	Form of Class B Certificate
	Exhibit A-8	Form of Class C Certificate
	Exhibit A-9	Form of Class D Certificate
	Exhibit A-10	Form of Class E Certificate
	Exhibit A-11	Form of Class F Certificate
	Exhibit A-12	Form of Class G Certificate
	Exhibit A-13	Form of Class H Certificate
	Exhibit A-14	Form of Class X-A Certificate
	Exhibit A-15	Form of Class X-B Certificate
	Exhibit A-16	Form of Class X-C Certificate
	Exhibit A-17	Form of Class X-D Certificate
	Exhibit A-18	Form of Class X-E Certificate
	Exhibit A-19	Form of Class X-F Certificate
	Exhibit A-20	Form of Class V Certificate
	Exhibit A-21	Form of Class R Certificate
	Exhibit A-22	Form of Class LR Certificate
	Exhibit B	Mortgage Loan Schedule
	Exhibit C-1	Form of Transferee Affidavit
	Exhibit C-2	Form of Transferor Letter
	Exhibit D-1	Form of Investment Representation Letter
	Exhibit D-2	Form of ERISA Representation Letter
	Exhibit E	Form of Request for Release
	Exhibit F	Securities Legend
	Exhibit G	Form of Regulation S Transfer Certificate
	Exhibit H	Form of Transfer Certificate for Exchange or Transfer from Rule 144A
    Global Certificate to Regulation S Global Certificate during the Restricted Period
	Exhibit I	Form of Transfer Certificate for Exchange or Transfer from Rule 144A
    Global Certificate to Regulation S Global Certificate after the Restricted Period
	Exhibit J	Form of Transfer Certificate for Exchange or Transfer from Regulation
    S Global Certificate to Rule 144A Global Certificate during the Restricted Period
	Exhibit K	Form of Distribution Date Statement
	Exhibit L-1A	Form of Investor Certification for Non-Borrower Party (for Persons
    other than the Controlling Class Representative and/or a Controlling Class Certificateholder) 
	Exhibit L-1B	Form of Investor Certification for Non-Borrower Party (for the
    Controlling Class Representative and/or a Controlling Class Certificateholder)

 

    	-vi-

    	 

    

 

	Exhibit L-1C	Form of Investor Certification for Borrower Party (for Persons
    other than the Controlling Class Representative and/or a Controlling Class Certificateholder)
	Exhibit L-1D	Form of Investor Certification for Borrower Party (for the Controlling
    Class Representative and/or a Controlling Class Certificateholder)
	Exhibit L-1E	Form of Notice of Excluded Controlling Class Holder
	Exhibit L-1F	Form of Notice of Excluded Controlling Class Holder to Certificate
    Administrator
	Exhibit L-1G	Form of Certification of the Controlling Class Representative
	Exhibit L-2	Form of Financial Market Publisher Certification
	Exhibit M	Form of Notification from Custodian
	Exhibit N-1	Form of Closing Date Custodian Certification
	Exhibit N-2	Form of Post-Closing Custodian Certification
	Exhibit O	Form of Trustee Backup Certification
	Exhibit P	Form of Custodian Backup Certification
	Exhibit Q	Form of Certificate Administrator Backup Certification
	Exhibit R	Form of Master Servicer Backup Certification
	Exhibit S	Form of Special Servicer Backup Certification
	Exhibit T	Mortgage Loan Seller Sub-Servicers
	Exhibit U	Mortgage Loans with Earnout/Holdback Provisions
	Exhibit V	Form of NRSRO Certification
	Exhibit W-1	Form of Transferor Certificate for Transfer of the Excess Servicing
    Fee Rights
	Exhibit W-2	Form of Transferee Certificate for Transfer of the Excess Servicing
    Fee Rights
	Exhibit X	Form of Operating Advisor Annual Report
	Exhibit Y	Form of Sarbanes-Oxley Certification
	Exhibit Z	Additional Disclosure Notification
	Exhibit AA	Form of Sub-Servicer Backup Certification
	Exhibit BB	Form of Operating Advisor Backup Certification
	Exhibit CC-1	Form of Power of Attorney to the Master Servicer 
	Exhibit CC-2	Form of Power of Attorney to the Special Servicer
	Exhibit DD	Form of Non-Serviced Mortgage Loan Notification
	Exhibit EE	Form of Companion Loan Noteholder Certification

 

TABLE
OF SCHEDULES

 

	Schedule I	Directing Holders
	Schedule II	Servicing Criteria to be Addressed in Assessment of Compliance
	Schedule III	Class A-SB Planned Principal Balance Schedule
	Schedule IV	Additional Form 10-D Disclosure
	Schedule V	Additional Form 10-K Disclosure
	Schedule VI	Form 8-K Disclosure Information
	Schedule VII	Initial Serviced Companion Loan Noteholders
	Schedule VIII	Contact Information for the Other 17g-5 Information Provider

 

    	-vii-

    	 

    

 

Pooling and Servicing
Agreement, dated as of October 1, 2015, between Deutsche Mortgage & Asset Receiving Corporation, as Depositor, Wells Fargo
Bank, National Association, as Master Servicer, CWCapital Asset Management LLC, as Special Servicer, Wilmington Trust, National
Association, as Trustee, Wells Fargo Bank, National Association, as Certificate Administrator, Paying Agent and Custodian, and
Park Bridge Lender Services LLC, as Operating Advisor.

 

PRELIMINARY STATEMENT:

 

(Terms used but not defined in this Preliminary
Statement shall have

the meanings specified in Article I hereof)

 

The Depositor intends
to sell pass-through certificates to be issued hereunder in multiple Classes which in the aggregate will evidence the entire beneficial
ownership interest in the Trust Fund consisting primarily of the Mortgage Loans.

 

The Lower-Tier REMIC
will hold the Mortgage Loans (exclusive of Excess Interest and the Class V Distribution Account) and certain other related assets
subject to this Agreement, and will issue (i) the Lower-Tier Regular Interests set forth in the table below (the “Lower-Tier
Regular Interests”), as classes of regular interests in the Lower-Tier REMIC, and (ii) the Class LTR Interest as
the sole class of residual interests in the Lower-Tier REMIC, which will be represented by the Class LR Certificates.

 

The Upper-Tier REMIC
will hold the Lower-Tier Regular Interests and certain other related assets subject to this Agreement and will issue (i) the Class A-1,
Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class A-M, Class B, Class C, Class D, Class X-B,
Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G and Class H Certificates, which
are designated as classes of regular interests in the Upper-Tier REMIC and (ii) the Class R Certificates as the sole
class of residual interests in the Upper-Tier REMIC.

 

The portion of the Trust
Fund consisting of the Excess Interest and proceeds thereof in the Class V Distribution Account shall be treated as a grantor trust
under subpart E, part I of subchapter J of the Code (the “Grantor Trust”) for federal income
tax purposes. The Class V Certificates shall represent undivided beneficial interests in the Grantor Trust. As provided herein,
the Certificate Administrator shall not take any actions that would cause the Grantor Trust to either (i) lose its status
as a “grantor trust” or (ii) be treated as part of either Trust REMIC.

 

The Mortgaged Property
that secures the Mortgage Loan identified as Loan No. 1 on the Mortgage Loan Schedule (the “Prudential Plaza Mortgage
Loan”) also secures three companion loans to the same Borrower, each of which is pari passu in right of payment
with each other and to the Prudential Plaza Mortgage Loan (the “Prudential Plaza Companion Loans” and, together
with the Prudential Plaza Mortgage Loan, the “Prudential Plaza Loan Combination”). The Prudential Plaza Combination
is serviced pursuant to (i) this Agreement and (ii) the related Intercreditor Agreement. The Prudential Plaza Companion
Loans and all amounts attributable thereto will not be assets of the Trust Fund or the Trust REMICs and will

 

    	1

    	 

    

 

be beneficially owned
by the related Companion Loan Noteholders.

 

The Mortgaged Property
that secures the Mortgage Loan identified as Loan No. 2 on the Mortgage Loan Schedule secures the following nineteen notes
(which are collectively referred to as the “11 Madison Avenue Loan Combination”):

 

(i) a promissory note
designated as Note A-1-C1 with an outstanding principal balance of $70,000,000 (referred to herein as “11 Madison Avenue
Note A-1-C1” or the “11 Madison Avenue Mortgage Loan”);

 

(ii) nine promissory
notes designated as Note A-1-S1, Note A-1-S2, Note A-1-S3, Note A-2-S1, Note A-2-S2, Note A-2-S3, Note A-3-S1, Note A-3-S2 and
Note A-3-S3, respectively, with an aggregate outstanding principal balance of $397,530,000 (collectively referred to herein as
the “11 Madison Avenue Standalone Pari Passu Companion Loans”);

 

(iii) six promissory
notes designated as Note A-1-C2, Note A-1-C3, Note A-2-C1, Note A-2-C2, Note A-3-C1 and Note A-3-C2, respectively, with an aggregate
outstanding principal balance of $296,800,000 (collectively referred to herein as the “11 Madison Avenue Non-Standalone
Pari Passu Companion Loans” and, together with the 11 Madison Avenue Standalone Pari Passu Companion Loans, the “11
Madison Avenue Pari Passu Companion Loans”); and

 

(iv) three promissory
notes designated as Note B-1-S, Note B-2-S and Note B-3-S, respectively, with an aggregate outstanding principal balance of $310,670,000
(collectively referred to herein as the “11 Madison Avenue Subordinate Companion Loans” or “Non-Serviced
Subordinate Companion Loans”).

 

Each of the 11 Madison
Avenue Mortgage Loan and the 11 Madison Avenue Pari Passu Companion Loans is generally pari passu in right of payment with
each other. Each of the 11 Madison Avenue Subordinate Companion Loans is generally pari passu in right of payment with each
other but are subordinate in right of payment in respect of each of the 11 Madison Avenue Mortgage Loan and the 11 Madison Avenue
Pari Passu Companion Loans.

 

The 11 Madison Avenue
Loan Combination is serviced pursuant to (i) the Other Pooling and Servicing Agreement related to the Other Securitization
designated as the MAD 2015-11MD Mortgage Trust and (ii) the related Intercreditor Agreement. The 11 Madison Avenue Pari Passu
Companion Loans and the 11 Madison Avenue Subordinate Companion Loans and all amounts attributable thereto will not be assets of
the Trust Fund or the Trust REMICs and will be beneficially owned by the related Companion Loan Noteholders.

 

The portfolio of Mortgaged
Properties that secure the Mortgage Loan identified as Loan No. 10 on the Mortgage Loan Schedule (the “Heartland
Industrial Portfolio Mortgage Loan”) also secures two companion loans to the same Borrower, which are each pari passu
in right of payment to the Heartland Industrial Portfolio Mortgage Loan (collectively, the “Heartland Industrial Portfolio
Companion Loans” and, together with the Heartland Industrial Portfolio Mortgage Loan, the “Heartland Industrial
Portfolio Loan Combination”). The Heartland Industrial Portfolio Loan Combination is currently serviced pursuant to (i)
the Other

 

    	-2-

    	 

    

 

Pooling and Servicing Agreement related to the Other Securitization designated as the COMM 2015-CCRE25 Mortgage Trust,
and (ii) the related Intercreditor Agreement. The Heartland Industrial Portfolio Companion Loans and all amounts attributable thereto
will not be assets of the Trust Fund or the Trust REMICs and will be beneficially owned by the related Companion Loan Noteholders.

 

The following table
sets forth the Class designation and initial Certificate Balance or initial Notional Amount of each Class of Certificates (collectively,
the “Corresponding Certificates”), and the corresponding Lower-Tier Regular Interest (the “Corresponding
Lower-Tier Regular Interest”) and the Corresponding Components of the Class X Certificates (the “Corresponding
Components”) for each Class of Corresponding Certificates. 

	 	 	 	 	 	 	 	 	 	 	 	 
	Corresponding
Certificates	 	Initial Certificate

Balance or Notional

Amount	 	Corresponding

Lower-Tier Regular

Interests(1) 
	 	Initial Lower-Tier
 Principal Balance	 	Corresponding

Class X

Components(1) 

	Class A-1	 	$	36,162,000	 	 	LA-1	 	$	36,162,000	 	 	XA-1
	Class A-2	 	$	44,578,000	 	 	LA-2	 	$	44,578,000	 	 	XA-2
	Class A-SB	 	$	76,831,000	 	 	LA-SB	 	$	76,831,000	 	 	XA-SB
	Class A-3	 	$	225,000,000	 	 	LA-3	 	$	225,000,000	 	 	XA-3
	Class A-4	 	$	381,056,000	 	 	LA-4	 	$	381,056,000	 	 	XA-4
	Class X-A	 	$	811,353,000(2)	 	 	N/A	 	N/A	 	 	N/A
	Class X-B	 	$	126,817,000(2)	 	 	N/A	 	N/A	 	 	N/A
	Class X-C	 	$	61,363,000(2)	 	 	N/A	 	N/A	 	 	N/A
	Class X-D	 	$	28,636,000(2)	 	 	N/A	 	N/A	 	 	N/A
	Class X-E	 	$	28,636,000(2)	 	 	N/A	 	N/A	 	 	N/A
	Class X-F	 	$	34,090,914(2)	 	 	N/A	 	N/A	 	 	N/A
	Class A-M	 	$	47,726,000	 	 	LA-M	 	$	47,726,000	 	 	XA-M
	Class B	 	$	72,272,000	 	 	LB	 	$	72,272,000	 	 	XB
	Class C	 	$	54,545,000	 	 	LC	 	$	54,545,000	 	 	XC
	Class D	 	$	61,363,000	 	 	LD	 	$	61,363,000	 	 	XD
	Class E	 	$	15,000,000	 	 	LE	 	$	15,000,000	 	 	XE
	Class F	 	$	13,636,000	 	 	LF	 	$	13,636,000	 	 	XF
	Class G	 	$	28,636,000	 	 	LG	 	$	28,636,000	 	 	XG
	Class H	 	$	34,090,914	 	 	LH	 	$	34,090,914	 	 	XH

 

 

		(1)	The Lower-Tier Regular Interest and the Component of the Class X-A, Class X-B, Class
X-C, Class X-D, Class X-E or Class X-F Certificates that correspond to any particular Class of Regular Certificates also correspond
to each other and, accordingly, constitute the (i) Corresponding Lower-Tier Regular Interests and (ii) Corresponding
Components, respectively, with respect to each other. The Class X Component Notional Amount for such Corresponding Component of
the Class X-A, Class X-B, Class X-C, Class X-D, Class X-E or Class X-F Certificates shall at all times equal the then
Lower-Tier Principal Balance of the Corresponding Lower-Tier Regular Interest.

 

		(2)	Notional Amount.

 

The Class X-A, Class X-B,
Class X-C, Class X-D, Class X-E, Class X-F, Class V, Class R and Class LR Certificates do not have Certificate Balances (other
than the payment of $100 on the first Distribution Date in respect of the Class X-B Certificates, which will be deemed a payment
of principal on the principal balance of such Class for federal income tax purposes). Additionally, the Class V, Class R
and Class LR Certificates do not have Notional Balances. The Certificate Balance of any Class of Sequential Pay Certificates

 

    	-3-

    	 

    

 

outstanding at any time represents the maximum amount which holders thereof are entitled to receive as distributions allocable
to principal from the cash flow on the Mortgage Loans and the other assets in the Trust Fund; provided that if amounts previously
allocated as Realized Losses to a Class of Certificates in reduction of the Certificate Balance thereof are subsequently recovered
(including without limitation after the reduction of the Certificate Balance of such Class to zero), such Class may receive distributions
in respect of such recoveries in accordance with the priorities set forth in Section 4.01 of this Agreement.

 

As of the Cut-off Date,
the Mortgage Loans have an aggregate Stated Principal Balance equal to approximately $1,090,895,914.

 

In consideration of the
mutual agreements herein contained, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the
Trustee, the Operating Advisor and the other parties hereto hereby agree as follows:

 

Article I

DEFINITIONS

 

Section
1.01          Defined Terms. Whenever used in this Agreement, the
following words and phrases, unless the context otherwise requires, shall have the meanings specified in this Article.

 

“8-K Filing
Deadline”: As defined in Section 10.09 of this Agreement.

 

“10-K Filing
Deadline”: As defined in Section 10.07 of this Agreement.

 

“11 Madison
Avenue Companion Loans”: The 11 Madison Avenue Pari Passu Companion Loans and the 11 Madison Avenue Subordinate Companion
Loans.

 

“11 Madison
Avenue Loan Combination”: As defined in the Preliminary Statement.

 

“11 Madison
Avenue Mortgage Loan”: As defined in the Preliminary Statement.

 

“11 Madison
Avenue Non-Standalone Pari Passu Companion Loans”: As defined in the Preliminary Statement.

 

“11 Madison
Avenue Pari Passu Companion Loans”: As defined in the Preliminary Statement.

 

“11 Madison
Avenue Standalone Pari Passu Companion Loans”: As defined in the Preliminary Statement.

 

“11 Madison
Avenue Service Providers”: With respect the 11 Madison Avenue Loan Combination, the related Other Trustee, Other Servicer,
Other Special Servicer and any related sub-servicer, as applicable, and any other Person that makes principal and/or interest advances
in respect of the 11 Madison Avenue Companion Loans or property advances in

 

    	-4-

    	 

    

 

respect of the 11 Madison Avenue Loan Combination pursuant
to the related Other Pooling and Servicing Agreement.

 

“11 Madison
Avenue Subordinate Companion Loans”: As defined in the Preliminary Statement.

 

“17g-5 Information
Provider”: The Certificate Administrator.

 

“17g-5 Information
Provider’s Website”: The internet website of the 17g-5 Information Provider, initially located at www.ctslink.com,
under the “NRSRO” tab or other applicable tab of the respective transaction, access to which is limited to the Depositor,
the Rating Agencies and to NRSROs who have provided an NRSRO Certification to the 17g-5 Information Provider.

 

“Acceptable
Insurance Default”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination,
any Default arising when the related Loan Documents require that the related Borrower must maintain standard extended coverage
casualty insurance or other insurance that covers acts of terrorism and the Special Servicer has determined, in accordance with
the Servicing Standard and, unless a Control Termination Event has occurred and is continuing, with the consent of the Directing
Holder, that either (i) such insurance is not available at commercially reasonable rates and the subject hazards are not at
the time commonly insured against for properties similar to the Mortgaged Property and located in or around the geographic region
in which such Mortgaged Property is located (but only by reference to such insurance that has been obtained by such owners at current
market rates), or (ii) such insurance is not available at any rate; provided that the Directing Holder will not have
more than 30 days to respond to the Special Servicer’s request for such consent; provided, further, that
upon the Special Servicer’s determination, consistent with the Servicing Standard, that exigent circumstances do not allow
the Special Servicer to consult with the Directing Holder, the Special Servicer will not be required to do so. In making this determination,
the Special Servicer, to the extent consistent with the Servicing Standard, may rely on the opinion of an insurance consultant.

 

“Act”:
The Securities Act of 1933, as it may be amended from time to time.

 

“Actual/360
Basis”: The accrual of interest calculated on the basis of the actual number of days elapsed during any calendar month
(or other applicable accrual period) in a year assumed to consist of 360 days.

 

“Actual/360
Mortgage Loans”: The Mortgage Loans indicated as such in the Mortgage Loan Schedule and any related Serviced Companion
Loan.

 

“Additional
Form 10-D Disclosure”: As defined in Section 10.06 of this Agreement.

 

“Additional
Form 10-K Disclosure”: As defined in Section 10.07 of this Agreement.

 

    	-5-

    	 

    

 

“Additional
Servicer”: Each Affiliate of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the
Mortgage Loan Sellers or the Underwriters (other than an Affiliate of any such party acting in the capacity of a Mortgage Loan
Seller Sub-Servicer), that Services any of the Mortgage Loans, and each Person, other than the Special Servicer, who is not an
Affiliate of any of the Master Servicer, the Certificate Administrator, the Trustee, the Mortgage Loan Sellers or the Underwriters,
who Services 10% or more of the Mortgage Loans (based on their Stated Principal Balance).

 

“Additional
Trust Fund Expense”: Any expense incurred with respect to the Trust Fund and not otherwise included in the calculation
of a Realized Loss that would result in the Holders of Regular Certificates receiving less than the full amount of principal and/or
the Interest Accrual Amount to which they are entitled on any Distribution Date.

 

“Advance”:
Any P&I Advance or Property Advance.

 

“Advance Interest
Amount”: Interest at the Advance Rate on the aggregate amount of P&I Advances and Property Advances for which the
Master Servicer or the Trustee, as applicable, has not been reimbursed for the number of days from the date on which such Advance
was made to the date of payment or reimbursement of the related Advance or other such amount, less any amount of interest previously
paid on such Advance; provided that if, during any Collection Period in which an Advance was made, the related Borrower
makes payment of an amount in respect of which such Advance was made with interest at the Default Rate, the Advance Interest Amount
payable to the Master Servicer or the Trustee shall be paid first, from the amount of Default Interest on the related Mortgage
Loan actually paid by such Borrower, second, from late payment fees on the related Mortgage Loan actually paid by the related
Borrower, and third, upon determining in accordance with the Servicing Standard that such Advance Interest Amount is not
recoverable from the amounts described in first or second, from other amounts on deposit in the Collection Account.

 

“Advance Rate”:
A per annum rate equal to the Prime Rate. Interest at the Advance Rate will accrue from (and including) the date on which
the related Advance is made or the related expense incurred to (but excluding) the date on which such amounts are recovered out
of amounts received on the Mortgage Loan as to which such Advances were made or servicing expenses incurred or the first Servicer
Remittance Date after a determination of non-recoverability, as the case may be, is made, provided that such interest at
the Advance Rate will continue to accrue to the extent funds are not available in the Collection Accounts for such reimbursement
of such Advance.

 

“Adverse REMIC
Event”: Any action, that, under the REMIC Provisions, if taken or not taken, as the case may be, could (i) endanger
the status of either Trust REMIC as a REMIC or (ii) result in the imposition of a tax upon either Trust REMIC or the Trust
Fund (including but not limited to the tax on “prohibited transactions” as defined in Section 860F(a)(2) of the
Code and the tax on contributions to a REMIC set forth in Section 860G(d) of the Code, but not including the tax on “net
income from foreclosure property”).

 

“Affected Reporting
Party”: As defined in Section 10.14 of this Agreement.

 

    	-6-

    	 

    

 

“Affiliate”:
With respect to any specified Person, any other Person controlling or controlled by or under common control with such specified
Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power
to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
by contract or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the
foregoing. The Trustee and the Certificate Administrator may obtain and rely on an Officer’s Certificate of the Master Servicer,
the Special Servicer, the Operating Advisor or the Depositor to determine whether any Person is an Affiliate of such party.

 

“Affiliated
Person”: Any Person (other than a Rating Agency) involved in the organization or operation of the Depositor or an
affiliate, as defined in Rule 405 of the Act, of such Person.

 

“Agent Member”:
Members of, or Depository Participants in, the Depository.

 

“Agreement”:
This Pooling and Servicing Agreement and all amendments hereof and supplements hereto.

 

“Allocated Loan
Amount”: With respect to each Mortgaged Property, the portion of the principal amount of the related Mortgage Loan allocated
to such Mortgaged Property in the applicable Mortgage, Loan Agreement or the Mortgage Loan Schedule.

 

“A.M. Best”:
A.M. Best Company, or its successor in interest.

 

“Anticipated
Repayment Date”: With respect to any Mortgage Loan that is indicated on the Mortgage Loan Schedule as having a Revised
Rate, the date upon which such Mortgage Loan commences accruing interest at such Revised Rate.

 

“Anticipated
Termination Date”: Any Distribution Date on which it is anticipated that the Trust Fund will be terminated pursuant to
Section 9.01(c) of this Agreement.

 

“Applicable
Law”: As defined in Section 8.02(f) of this Agreement.

 

“Applicable
Procedures”: As defined in Section 5.02(c)(ii)(A) of this Agreement.

 

“Applicable
State and Local Tax Law”: For purposes hereof, the Applicable State and Local Tax Law shall be (a) the tax laws
of the State of New York and Illinois and (b) such state or local tax laws whose applicability shall have been brought to
the attention of the Certificate Administrator by either (i) an opinion of counsel delivered to it or (ii) written notice
from the appropriate taxing authority as to the applicability of such state or local tax laws.

 

“Appraised-Out
Class”: As defined in Section 4.08(b) of this Agreement.

 

    	-7-

    	 

    

 

“Appraisal”:
An appraisal prepared by an Independent MAI appraiser with at least five years’ experience in properties of like kind and
in the same area.

 

“Appraisal Reduction
Amount”: For any Distribution Date and for any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or a Serviced
Loan Combination as to which an Appraisal Reduction Event has occurred, an amount calculated by the Master Servicer (and, if no
Consultation Termination Event has occurred and is continuing, in consultation with the Directing Holder, and, if a Control Termination
Event has occurred and is continuing, in consultation with the Operating Advisor to the extent set forth in Section 3.31(f)
of this Agreement) by the first Determination Date following the date the Master Servicer receives from the Special Servicer the
required Appraisal or the Special Servicer’s Small Loan Appraisal Estimate (and thereafter by the first Determination Date
following any material change in the amounts set forth in the following equation) equal to the excess, if any, of (a) the
Stated Principal Balance of such Mortgage Loan or Serviced Loan Combination over (b) the excess of (i) the sum of (A) 90%
of the sum of the appraised values (net of any prior mortgage liens) of the related Mortgaged Properties securing such Mortgage
Loan or Serviced Loan Combination as determined by Updated Appraisals obtained by the Special Servicer (the costs of which shall
be paid by the Master Servicer as a Property Advance) minus any downward adjustments the Special Servicer deems appropriate in
accordance with the Servicing Standard (without implying any duty to do so) based upon its review of the Appraisal and any other
information it may deem appropriate (or, in the case of such Mortgage Loans or Serviced Loan Combinations having a Stated Principal
Balance under $2,000,000, 90% of the sum of the Small Loan Appraisal Estimates of the related Mortgaged Properties (as described
in Section 4.08)), plus (B) all escrows and reserves (other than escrows and reserves for taxes and insurance), plus
(C) all insurance and casualty proceeds and condemnation awards that constitute collateral for the related Mortgage Loan or
Serviced Loan Combination (whether paid or then payable by any insurance company or government authority), over (ii) the sum
of (without duplication) (A) to the extent not previously advanced by the Master Servicer or the Trustee, all unpaid interest
on such Mortgage Loan or Serviced Loan Combination at a per annum rate equal to the Mortgage Rate (or with respect to the
applicable Serviced Loan Combination, the weighted average of the Mortgage Rates for the related Mortgage Loan and related Serviced
Companion Loans), (B) all unreimbursed Property Advances and the principal portion of all unreimbursed P&I Advances, and
all unpaid interest on Advances at the Advance Rate, in respect of such Mortgage Loan or Serviced Loan Combination, (C) any
other unpaid Additional Trust Fund Expenses in respect of such Mortgage Loan or Serviced Loan Combination (but subject to the provisions
of Section 1.02(e)), (D) all currently due and unpaid real estate taxes, ground rents and assessments and insurance premiums
(net of any escrows or reserves therefor) that have not been the subject of an Advance by the Master Servicer or the Trustee, as
applicable, and (E) all other amounts due and unpaid with respect to such Mortgage Loan or Serviced Loan Combination that,
if not paid by the related Borrower, would result in a shortfall in distributions to the Certificateholders, except for Prepayment
Premiums and Yield Maintenance Charges payable due to an acceleration of such Mortgage Loan or Serviced Loan Combination following
a default thereunder; provided, without limiting the Special Servicer’s obligation to order and obtain such Appraisal,
if the Special Servicer has not obtained an Appraisal, Updated Appraisal or Small Loan Appraisal Estimate, as applicable, referred
to above within 60 days of

 

    	-8-

    	 

    

 

the Appraisal Reduction Event (or in the case of an Appraisal Reduction Event occurring by reason
of clause (ii) of the definition thereof, within 30 days of such Appraisal Reduction Event), the Appraisal Reduction
Amount shall be deemed to be an amount equal to 25% of the current Stated Principal Balance of the related Mortgage Loan or the
applicable Serviced Loan Combination until such time as such Updated Appraisal or Small Loan Appraisal Estimate referred to above
is received and the Appraisal Reduction Amount is recalculated.

 

Notwithstanding anything
herein to the contrary, the aggregate Appraisal Reduction Amount related to a Mortgage Loan (other than a Non-Serviced Mortgage
Loan) or a Serviced Loan Combination or the related REO Property will be reduced to zero as of the date the related Mortgage Loan
or Serviced Loan Combination is paid in full, liquidated, repurchased or otherwise removed from the Trust Fund. In addition, with
respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination as to which an Appraisal Reduction
Event has occurred, such Mortgage Loan or Serviced Loan Combination shall no longer be subject to the Appraisal Reduction Amount
if (a) such Mortgage Loan or Serviced Loan Combination has become a Corrected Mortgage Loan (if a Servicing Transfer Event
had occurred with respect to the related Mortgage Loan) and (b) no other Appraisal Reduction Event has occurred and is continuing.

 

Each Serviced Loan Combination
shall be treated as a single mortgage loan for purposes of calculating an Appraisal Reduction Amount with respect to the mortgage
loans that comprise such Serviced Loan Combination. Any Appraisal Reduction Amount in respect of a Serviced Loan Combination shall
be allocated first, to the related Serviced Subordinate Companion Loan, if any, in accordance with the terms of the related
Intercreditor Agreement, to notionally reduce the related outstanding principal balance to zero, and then, pro rata,
to the related Mortgage Loan and the related Serviced Pari Passu Companion Loan that is pari passu in right of payment with
such Mortgage Loan, if any.

 

For any Distribution
Date and for any Non-Serviced Mortgage Loan as to which an Appraisal Reduction Event has occurred, the Appraisal Reduction Amount
shall be an amount calculated by the applicable servicer in accordance with and pursuant to the terms of the related Other Pooling
and Servicing Agreement.

 

“Appraisal Reduction
Event”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination, the
earliest of (i) the date on which such Mortgage Loan or Serviced Loan Combination becomes a Modified Mortgage Loan, (ii) the
90th day following the occurrence of any uncured Delinquency in Monthly Payments with respect to such Mortgage Loan or Serviced
Loan Combination, (iii) receipt of notice that the related Borrower has filed a bankruptcy petition or the date on which a
receiver is appointed and continues in such capacity in respect of a Mortgaged Property securing such Mortgage Loan or Serviced
Loan Combination or the 60th day after the related Borrower becomes the subject of involuntary bankruptcy proceedings and such
proceedings are not dismissed in respect of a Mortgaged Property securing such Mortgage Loan or Serviced Loan Combination, (iv) the
date on which the Mortgaged Property securing such Mortgage Loan or Serviced Loan Combination becomes a Serviced REO Property and
(v) with respect to a Balloon Loan, a payment default shall have occurred with respect to the related Balloon Payment; provided,
if (a) the related Borrower is diligently seeking a refinancing commitment

 

    	-9-

    	 

    

 

(and delivers a statement to that effect to the
Master Servicer within 30 days after the default, who shall promptly deliver a copy to the Special Servicer, the Operating
Advisor and the Directing Holder (but only if no Consultation Termination Event has occurred and is continuing)), (b) the
related Borrower continues to make its Assumed Scheduled Payment, (c) no other Appraisal Reduction Event has occurred with
respect to such Mortgage Loan or Serviced Loan Combination and (d) for so long as no Control Termination Event has occurred and
is continuing, the Directing Holder consents, an Appraisal Reduction Event will not occur until 60 days beyond the related
Maturity Date, unless extended by the Special Servicer in accordance with the Loan Documents or this Agreement; and provided,
further, if the related Borrower has delivered to the Master Servicer, who shall promptly deliver a copy to the Special
Servicer, the Operating Advisor and the Directing Holder (but only for so long as no Consultation Termination Event has occurred
and is continuing), on or before the 60th day after the related Maturity Date, a refinancing commitment reasonably acceptable to
the Special Servicer, and the Borrower continues to make its Assumed Scheduled Payments (and no other Appraisal Reduction Event
has occurred with respect to such Mortgage Loan or Serviced Loan Combination), an Appraisal Reduction Event will not occur until
the earlier of (1) 120 days beyond the related Maturity Date (or extended maturity date) and (2) the termination
of the refinancing commitment. The Special Servicer shall notify the Master Servicer promptly upon the occurrence of any of the
foregoing events with respect to any Specially Serviced Loan.

 

“ARD Loan”:
Any Mortgage Loan the terms of which provide that if, after an Anticipated Repayment Date, the related Borrower has not prepaid
such Mortgage Loan in full, any principal outstanding on that date will accrue interest at the Revised Rate rather than the Initial
Rate. There are no ARD Loans related to the Trust.

 

“Asset Status
Report”: As defined in Section 3.23(d) of this Agreement.

 

“Assignment
of Leases, Rents and Profits”: With respect to any Mortgaged Property, any assignment of leases, rents and profits or
similar agreement executed by the Borrower, assigning to the mortgagee all of the income, rents and profits derived from the ownership,
operation, leasing or disposition of all or a portion of such Mortgaged Property, in the form which was duly executed, acknowledged
and delivered, as amended, modified, renewed or extended through the date hereof and from time to time hereafter.

 

“Assignment
of Mortgage”: An assignment of Mortgage without recourse, notice of transfer or equivalent instrument, in recordable
form, which is sufficient under the laws of the jurisdiction in which the related Mortgaged Property is located to reflect of record
the sale of the Mortgage, which assignment, notice of transfer or equivalent instrument may be in the form of one or more blanket
assignments covering Mortgages encumbering Mortgaged Properties located in the same jurisdiction, if permitted by law and acceptable
for recording.

 

“Assumed Scheduled
Payment”: With respect to any Mortgage Loan that is delinquent in respect of its Balloon Payment (including any REO Loan
as to which the Balloon Payment would have been past due), an amount equal to the sum of (a) the principal portion of the
Monthly Payment that would have been due on such Mortgage Loan on the related Due Date (or portion thereof not received), based
on the constant Monthly Payment that would have been due on such Mortgage Loan on the related Due Date based on the constant payment

 

    	-10-

    	 

    

 

required by the related Note or the amortization or payment schedule thereof (as calculated with interest at the related Mortgage
Rate) (if any), assuming such Balloon Payment had not become due, after giving effect to any prior modification, and (b) interest
at the Mortgage Rate for such Mortgage Loan minus the applicable Servicing Fee Rate.

 

“Assumption
Fees”: Any fees (other than assumption application fees) collected by the Master Servicer or the Special Servicer in
connection with an assumption of a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination or related
substitution of a Borrower (or an interest therein) thereunder (in each case, as permitted or set forth in the related Loan Documents
or under the provisions of this Agreement).

 

“Authenticating
Agent”: Any authenticating agent appointed by the Certificate Administrator pursuant to Section 3.18 of this Agreement.

 

“Available Funds”:
For a Distribution Date, the sum of (i) all previously undistributed Monthly Payments or other receipts on account of principal
and interest on or in respect of the Mortgage Loans (including Unscheduled Payments and Net REO Proceeds, if any, transferred from
an REO Account pursuant to Section 3.15(b) of this Agreement, but excluding any Excess Liquidation Proceeds) received by or
on behalf of the Master Servicer in the Collection Period relating to such Distribution Date, (ii) all P&I Advances made
by the Master Servicer or the Trustee, as applicable, in respect of the Mortgage Loans as of such Distribution Date, (iii) all
other amounts received by the Master Servicer in such Collection Period (including the portion of Loss of Value Payments deposited
into the Collection Account pursuant to Section 3.06(e) of this Agreement) and required to be placed in the Collection Account
by the Master Servicer pursuant to Section 3.05 of this Agreement, (iv) without duplication, any late Monthly Payments
on or in respect of the Mortgage Loans received after the end of the prior Collection Period relating to such Distribution Date
but prior to the close of business on the Business Day prior to the related Servicer Remittance Date, (v) any Master Servicer
Prepayment Interest Shortfall Amounts remitted by the Master Servicer to the Collection Account, and (vi) with respect to the Distribution
Date in March of each calendar year (or February if the final Distribution Date occurs in such month), the Withheld Amounts
deposited in the Interest Reserve Account by the Certificate Administrator in accordance with Section 3.05(e) of this Agreement;
but excluding the following (in no order of priority):

 

(a)          all
amounts permitted to be used to reimburse the Master Servicer, the Special Servicer or the Trustee, as applicable, for previously
unreimbursed Advances and Workout-Delayed Reimbursement Amounts and interest thereon as described in Section 3.06 of this
Agreement;

 

(b)          the
aggregate amount of the Master Servicing Fee, the Trustee/Certificate Administrator Fee, the Operating Advisor Fee, the Special
Servicing Fee, any Operating Advisor Consulting Fees (to the extent that such fee is actually received from the related Borrower),
the CREFC® License Fee, fees for primary servicing functions, Net Prepayment Interest Excess, Net Default Interest,
late payment fees (to the extent not applied to the reimbursement of Advance Interest Amounts and/or Additional Trust Fund Expenses
as provided in Section 3.06 of this Agreement), Workout Fees, Liquidation Fees, Assumption Fees, Modification Fees, loan service

 

    	-11-

    	 

    

 

transaction fees, Permitted Special Servicer/Affiliate Fees, demand fees, beneficiary statement charges and similar fees on the
Mortgage Loans (which the Master Servicer or the Special Servicer is entitled to retain as Servicing Compensation or Special Servicing
Compensation, respectively), together with interest on Advances to the extent provided herein, and reinvestment earnings on payments
received with respect to the Mortgage Loans (that the Master Servicer or the Special Servicer are entitled to receive as additional
servicing compensation), in each case in respect of such Distribution Date;

 

(c)          all
amounts representing scheduled Monthly Payments on Mortgage Loans due after the related Due Date;

 

(d)          that
portion of Net Liquidation Proceeds, Net Insurance Proceeds and Net Condemnation Proceeds with respect to a Mortgage Loan which
represents any unpaid Servicing Fee, Servicing Compensation, Special Servicing Compensation, Trustee/Certificate Administrator
Fee, CREFC® License Fee and the Operating Advisor Fee, to which the Master Servicer, the Special Servicer, any sub-servicer,
the Certificate Administrator, the Trustee, CREFC® and/or the Operating Advisor are entitled;

 

(e)          all
amounts representing certain fees and expenses, including indemnity amounts, reimbursable or payable to the Master Servicer, the
Special Servicer, the Certificate Administrator (in all of its capacities under this Agreement), the Operating Advisor or the Trustee
(in all of its capacities under this Agreement) and other amounts permitted to be retained by the Master Servicer or withdrawn
by the Master Servicer from the Collection Account to the extent expressly set forth in this Agreement (including, without limitation,
as provided in Section 3.06 of this Agreement and including any indemnities provided for herein), including interest thereon
as expressly provided in this Agreement;

 

(f)          any
interest or investment income on funds on deposit in the Collection Account or any interest on Permitted Investments in which such
funds may be invested;

 

(g)         all
amounts received with respect to each Mortgage Loan previously purchased, repurchased or replaced from the Trust Fund pursuant
to Section 2.03(e), Section 3.16 or Section 9.01 of this Agreement or a Mortgage Loan Purchase Agreement during
the related Collection Period and subsequent to the date as of which such Mortgage Loan was purchased, repurchased or replaced;

 

(h)         the
amount reasonably determined by the Certificate Administrator to be necessary to pay any applicable federal, state or local taxes
imposed on the Upper-Tier REMIC or the Lower-Tier REMIC under the circumstances and to the extent described in Section 4.05
of this Agreement;

 

(i)          Prepayment
Premiums and Yield Maintenance Charges with respect to the Mortgage Loans;

 

(j)          with
respect to the Distribution Date occurring in (A) January of each calendar year that is not a leap year and (B) February of
each calendar year, in each case, unless such Distribution Date is the final Distribution Date, the Withheld Amounts

 

    	-12-

    	 

    

 

deposited
in the Interest Reserve Account by the Certificate Administrator in accordance with Section 3.05(e) of this Agreement; and

 

(k)         Excess
Interest.

 

“Balloon Loan”:
Any Mortgage Loan or Serviced Loan Combination that requires a payment of principal on the maturity date in excess of its constant
Monthly Payment.

 

“Balloon Payment”:
With respect to each Balloon Loan, the scheduled payment of principal due on the Maturity Date (less principal included in the
applicable amortization schedule or scheduled Monthly Payment).

 

“Base Interest
Fraction”: With respect to any Principal Prepayment on any Mortgage Loan and any of the Class A-1, Class A-2,
Class A-SB, Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates, a fraction
(not greater than one) (a) whose numerator is the greater of zero and the amount, if any, by which (i) the Pass-Through
Rate on such Class of Certificates, exceeds (ii) the yield rate (as provided by the Master Servicer) used in calculating the
Prepayment Premium or Yield Maintenance Charge, as applicable, with respect to such Principal Prepayment and (b) whose denominator
is the amount, if any, by which (i) the Mortgage Rate on such Mortgage Loan exceeds (ii) the yield rate (as provided
by the Master Servicer) used in calculating the Prepayment Premium or Yield Maintenance Charge, as applicable, with respect to
such Principal Prepayment; provided that if such yield rate is greater than or equal to the Mortgage Rate on such Mortgage
Loan, then the Base Interest Fraction shall be zero; provided, further, that if such yield rate is greater than or
equal to the Mortgage Rate on such Mortgage Loan, but less than the Pass-Through Rate described in clause (a)(i) above, then
the Base Interest Fraction shall be one.

 

To the extent that the
“yield rate” referred to in the immediately preceding paragraph to be provided by the Master Servicer is not provided
in the related Loan Documents, such “yield rate” shall be, when compounded monthly, equivalent to the yield, on the
U.S. Treasury primary issue with a maturity date closest to the Maturity Date or Anticipated Repayment Date, as applicable, for
the prepaid Mortgage Loan. In the event that there are: (a) two or more U.S. Treasury issues with the same coupon the issue
with the lower yield shall be selected and (b) two or more U.S. Treasury issues with maturity dates equally close to the Maturity
Date or Anticipated Repayment Date, as applicable, for such prepaid Mortgage Loan, the issue with the earlier maturity date shall
be selected.

 

“Beneficial
Owner”: With respect to a Global Certificate, the Person who is the beneficial owner of such Certificate as reflected
on the books of the Depository or on the books of a Person maintaining an account with such Depository (directly as a Depository
Participant or indirectly through a Depository Participant, in accordance with the rules of such Depository) with respect to such
Classes. Each of the Trustee, the Certificate Administrator and the Master Servicer shall have the right to require, as a condition
to acknowledging the status of any Person as a Beneficial Owner under this Agreement, that such Person executes an Investor Certification.

 

“Bid Allocation”:
With respect to the Master Servicer and each Sub-Servicer therefor and the proceeds of any bid pursuant to Section 7.01(a)
of this Agreement, the

 

    	-13-

    	 

    

 

amount of such proceeds (net of any expenses incurred in connection with such bid and the transfer of servicing),
multiplied by a fraction equal to (a) the Servicing Fee Amount for the Master Servicer or such Sub-Servicer therefor, as the
case may be, as of such date of determination, over (b) the aggregate of the Servicing Fee Amounts for the Master Servicer
and all Sub-Servicers therefor as of such date of determination.

 

“Book-Entry
Certificate”: Any Certificate registered in the name of the Depository or its nominee.

 

“Borrower”:
With respect to any Mortgage Loan, Companion Loan or Serviced Loan Combination, any obligor or obligors on any related Note or
Notes, including in connection with a Mortgage Loan, Companion Loan or Serviced Loan Combination that utilizes an indemnity deed
of trust (“IDOT”) structure, the Borrower and the Mortgaged Property owner / payment guarantor / mortgagor,
individually and collectively, as the context may require.

 

“Borrower Accounts”:
As defined in Section 3.07(a) of this Agreement.

 

“Borrower Party”:
(i) A Borrower, a mortgagor, a manager of a Mortgaged Property or any Affiliate thereof, or any principal, partner, member, joint
venturer, limited partner, employee, director, advisor or direct investor in any of the foregoing, (ii) solely with respect to
the 10 largest Mortgage Loans based on Stated Principal Balance, any person that owns, directly or indirectly, 25% or more of a
Borrower, a mortgagor or a manager of a Mortgaged Property or (iii) any owner (and (A) any Affiliate and agent thereof or (B) any
person that owns, directly or indirectly, 25% or more of any such owner) of any interest (whether legally, beneficially or otherwise)
in any mezzanine loan related to a Mortgage Loan that has accelerated such mezzanine loan (unless (a) acceleration was automatic
under such mezzanine loan, (b) the event directly giving rise to the automatic acceleration under such mezzanine loan was not initiated
by such owner or an Affiliate of such owner and (c) such owner is stayed from exercising and has not commenced the exercise of
remedies associated with foreclosure of the equity collateral under such mezzanine loan) or commenced foreclosure proceedings against
the equity interests in the Borrower(s) of such Mortgage Loan.

 

“Breach”:
As defined in Section 2.03(e) of this Agreement.

 

“Business Day”:
Any day other than (i) a Saturday or a Sunday, (ii) a legal holiday in New York, New York or the principal cities in
which the Master Servicer, the Special Servicer, the Operating Advisor, the Trustee or the Certificate Administrator conduct servicing,
trust administration or surveillance operations or (iii) a day on which the Federal Reserve Bank of New York or banking institutions
or savings associations in New York, New York, Charlotte, North Carolina, Oakland, California, Columbia, Maryland, Bethesda, Maryland,
Wilmington, Delaware, Minneapolis, Minnesota, Columbia, Maryland or the principal cities in which the Master Servicer, the Special
Servicer, the Operating Advisor, the Trustee or the Certificate Administrator conduct servicing, trust administration or surveillance
operations are authorized or obligated by law or executive order to be closed.

 

“Calculation
Rate”: A discount rate appropriate for the type of cash flows being discounted, namely (i) for principal and interest
payment on the Mortgage Loan or Serviced

 

    	-14-

    	 

    

 

Companion Loan or sale of a Defaulted Mortgage Loan, the highest of (1) the rate determined
by the Master Servicer or Special Servicer, as applicable, that approximates the market rate that would be obtainable by the Borrowers
on similar non-defaulted debt of the Borrowers as of such date of determination, (2) the applicable Mortgage Rate and (3) the
yield on 10-year U.S. treasuries as of such date of determination and (ii) for all other cash flows, including property cash
flow, the “discount rate” set forth in the most recent related Appraisal (or Updated Appraisal).

 

“Cash Collateral
Account”: With respect to any Mortgage Loan or Serviced Loan Combination that has a Lock-Box Account, any account or
accounts created pursuant to the related Mortgage, Loan Agreement, Cash Collateral Account Agreement or other Loan Document into
which the Lock-Box Account monies are swept on a regular basis for the benefit of the Trustee, on behalf of the Certificateholders,
as successor to the related Mortgage Loan Seller. Any Cash Collateral Account shall be beneficially owned for federal income tax
purposes by the Person who is entitled to receive all reinvestment income or gain thereon in accordance with the terms and provisions
of the related Loan Documents and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or
gain thereon in accordance with the terms of the related Mortgage Loan or Serviced Loan Combination. The Master Servicer shall
be permitted to make withdrawals therefrom for deposit into the Collection Account or the applicable Serviced Loan Combination
Collection Account, as applicable. To the extent not inconsistent with the terms of the related Loan Documents, each such Cash
Collateral Account shall be an Eligible Account.

 

“Cash Collateral
Account Agreement”: With respect to any Mortgage Loan or Serviced Loan Combination, the cash collateral account agreement,
if any, between the related Originator and the related Borrower, pursuant to which the related Cash Collateral Account, if any,
may have been established.

 

“CCRE”:
Cantor Commercial Real Estate Lending, L.P., in its capacity as a Mortgage Loan Seller, and its successors in interest.

 

“CCRE Indemnification
Agreement”: The Indemnification Agreement, dated the Pricing Date, between CCRE, the Depositor, the Underwriters and
the Initial Purchasers.

 

“CCRE Mortgage
Loans”: Each Mortgage Loan transferred and assigned to the Depositor pursuant to the CCRE Purchase Agreement.

 

“CCRE Purchase
Agreement”: The Mortgage Loan Purchase Agreement, dated the Pricing Date, between CCRE and the Depositor.

 

“Certificate”:
Any Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class X-B, Class X-C,
Class X-D, Class X-E, Class X-F, Class A-M, Class B, Class C, Class D, Class E, Class F, Class G,
Class H, Class V, Class R or Class LR Certificate issued, authenticated and delivered hereunder.

 

“Certificate
Administrator”: Wells Fargo Bank, National Association, a national banking association, in its capacity as Certificate
Administrator, or its successor in interest, or any successor Certificate Administrator appointed as herein provided.

 

    	-15-

    	 

    

 

“Certificate
Administrator’s Website”: The internet website of the Certificate Administrator, initially located at www.ctslink.com.

 

“Certificate
Balance”: With respect to any Class of Sequential Pay Certificates (a) on or prior to the first Distribution Date,
an amount equal to the aggregate initial Certificate Balance of such Class, as specified in the Preliminary Statement to this Agreement,
(b) as of any date of determination after the first Distribution Date, the Certificate Balance of such Class of Certificates
on the Distribution Date immediately prior to such date of determination less any distributions allocable to principal and any
allocations of Realized Losses made thereon on such prior Distribution Date.

 

“Certificate
Custodian”: Initially, the Certificate Administrator; thereafter, any other Certificate Custodian acceptable to the Depository
and selected by the Certificate Administrator.

 

“Certificate
Register” and “Certificate Registrar”: The register maintained and the registrar appointed pursuant
to Section 5.02 of this Agreement.

 

“Certificateholder”:
The Person whose name is registered in the Certificate Register, subject to the following:

 

(a)          except
as provided in clauses (b) and (d), solely for the purpose of giving any consent or taking any action pursuant to this Agreement,
any Certificate registered in the name of the Depositor, the Master Servicer, the Special Servicer, any Excluded Special Servicer,
the Certificate Administrator, the Trustee (in its individual capacity) or any Borrower Party (which determination shall be based
upon such party’s representations in an Investor Certification submitted by such party, upon which the Certificate Registrar
shall be entitled to conclusively rely) shall be deemed not to be outstanding and the Voting Rights to which it is entitled shall
not be taken into account in determining whether the requisite percentage of Voting Rights necessary to effect any such consent
or take any such action has been obtained;

 

(b)          for
purposes of obtaining the consent of Certificateholders to an amendment of this Agreement, any Certificates beneficially owned
by the Master Servicer, the Special Servicer or the Operating Advisor or an Affiliate thereof shall be deemed to be outstanding,
provided such amendment does not relate to the increase in compensation or material reduction in obligations of the Master Servicer,
the Special Servicer, the Excluded Special Servicer or the Operating Advisor or any Affiliate thereof (other than solely in its
capacity as Certificateholder), in which case such Certificates shall be deemed not to be outstanding;

 

(c)          except
as provided in clause (d) below, for purposes of obtaining the consent of Certificateholders to any action proposed to be
taken by the Special Servicer with respect to a Specially Serviced Loan or the Excluded Special Servicer with respect to the related
Excluded Special Servicer Mortgage Loan, any Certificates beneficially owned by the Special Servicer or the Excluded Special Servicer,
as applicable, or an Affiliate thereof shall be deemed not to be outstanding (provided, that any Controlling

 

    	-16-

    	 

    

 

Class Certificate
owned by an Excluded Controlling Class Holder will not be deemed to be outstanding solely with respect to any related Excluded
Controlling Class Mortgage Loan; and provided, further, that any Controlling Class Certificate owned by the Special
Servicer or an affiliate thereof will not be deemed to be outstanding solely with respect to any related Excluded Special Servicer
Mortgage Loan);

 

(d)          for
the purpose of exercising its rights as a member of the Controlling Class or as the Directing Holder, if applicable, any Certificate
beneficially owned by the Master Servicer, the Special Servicer or an Affiliate thereof will be deemed outstanding; and

 

(e)          for
purposes of providing or distributing any reports, statements or other information required or permitted to be provided to a Certificateholder
hereunder, a Certificateholder shall include any Beneficial Owner, or (subject to the execution of an Investor Certification) any
Person identified by a Beneficial Owner as a prospective transferee of a Certificate beneficially owned by such Beneficial Owner,
but only if the Certificate Administrator or another party hereto furnishing such report, statement or information has been provided
with the name of the Beneficial Owner of the related Certificate or the Person identified as a prospective transferee thereof.
For purposes of the foregoing, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee,
the Paying Agent, the Operating Advisor or other such Person may rely, without limitation, on a Depository Participant listing
from the Depository or statements furnished by a Person that on their face appear to be statements from a Depository Participant
to such Person indicating that such Person beneficially owns Certificates.

 

“Certificateholder
Quorum”: In connection with any solicitation of votes in connection with the replacement of the Special Servicer pursuant
to Section 3.22(d), hereof, the holders of Sequential Pay Certificates evidencing at least 75% of the aggregate Voting Rights
(taking into account Realized Losses and the application of any Appraisal Reduction Amounts to notionally reduce the Certificate
Balances of the Certificates pursuant to Section 4.08 of this Agreement) of all Sequential Pay Certificates on an aggregate basis.

 

“Certification
Parties”: As defined in Section 10.08 of this Agreement.

 

“Certifying
Certificateholder”: A Certificateholder or Beneficial Owner of a Certificate that has provided the Certificate Administrator
with an executed Investor Certification.

 

“Certifying
Person”: As defined in Section 10.08 of this Agreement.

 

“Certifying
Servicer”: As defined in Section 10.11 of this Agreement.

 

“Class”:
All of the Certificates that collectively bear the same alphabetical or alphanumeric Class designation, and each separately designated
Lower-Tier Regular Interest.

 

“Class A-1
Certificate”: Any one of the Certificates with a “Class A-1” designation on the face thereof, executed
and authenticated by the Certificate Administrator or

 

    	-17-

    	 

    

 

the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class A-1
Pass-Through Rate”: A per annum rate equal to 1.604%.

 

“Class A-2
Certificate”: Any one of the Certificates with a “Class A-2” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class A-2
Pass-Through Rate”: A per annum rate equal to 2.881%.

 

“Class A-3
Certificate”: Any one of the Certificates with a “Class A-3” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class A-3
Pass-Through Rate”: A per annum rate equal to 3.359%.

 

“Class A-4
Certificate”: Any one of the Certificates with a “Class A-4” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class A-4
Pass-Through Rate”: A per annum rate equal to 3.630%.

 

“Class A-M
Certificate”: Any one of the Certificates with a “Class A-M” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class A-M
Pass-Through Rate”: A per annum rate equal to the lesser of (i) the Weighted Average Net Mortgage Pass-Through
Rate, and (ii) 4.085%.

 

“Class A-SB
Certificate”: Any one of the Certificates with a “Class A-SB” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class A-SB
Pass-Through Rate”: A per annum rate equal to 3.373%.

 

“Class A-SB
Planned Principal Balance”: With respect to any Distribution Date, the planned principal amount for such Distribution
Date specified in Schedule III hereto relating to the Class A-SB Certificates.

 

“Class B
Certificate”: Any one of the Certificates with a “Class B” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the

 

    	-18-

    	 

    

 

Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class B
Pass-Through Rate”: A per annum rate equal to the Weighted Average Net Mortgage Pass-Through Rate.

 

“Class C
Certificate”: Any one of the Certificates with a “Class C” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class C
Pass-Through Rate”: A per annum rate equal to the Weighted Average Net Mortgage Pass-Through Rate.

 

“Class D
Certificate”: Any one of the Certificates with a “Class D” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class D
Pass-Through Rate”: A per annum rate equal to (i) the Weighted Average Net Mortgage Pass-Through Rate, minus (ii)
1.000%, but no less than 0.000%.

 

“Class E
Certificate”: Any one of the Certificates with a “Class E” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class E
Pass-Through Rate”: A per annum rate equal to 3.250%.

 

“Class F
Certificate”: Any one of the Certificates with a “Class F” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class F
Pass-Through Rate”: A per annum rate equal to 3.250%.

 

“Class G
Certificate”: Any one of the Certificates with a “Class G” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

“Class G
Pass-Through Rate”: A per annum rate equal to 3.250%.

 

“Class H
Certificate”: Any one of the Certificates with a “Class H” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement.

 

    	-19-

    	 

    

 

“Class H
Pass-Through Rate”: A per annum rate equal to 3.250%.

 

“Class Interest
Shortfall”: On any Distribution Date for any Class of Regular Certificates, the amount of interest required to be distributed
to the Holders of such Class pursuant to Section 4.01(b) of this Agreement on such Distribution Date minus the amount of interest
actually distributed to such Holders pursuant to such Section, if any.

 

“Class LA-1
Interest,” “Class LA-2 Interest,” “Class LA-3 Interest,” “Class LA-SB
Interest,” “Class LA-4 Interest,” “Class LA-M Interest,” “Class LB
Interest,” “Class LC Interest,” “Class LD Interest,” “Class LE Interest,”
“Class LF Interest”, “Class LG Interest” and “Class LH Interest”: Each,
a regular interest in the Lower-Tier REMIC entitled to monthly distributions payable thereto pursuant to Section 4.01 of this
Agreement.

 

“Class LR
Certificate”: Any one of the Certificates with a “Class LR” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement. The Class LR Certificates
have no Pass-Through Rate, Certificate Balance or Notional Balance.

 

“Class LTR Interest”:
The sole class of “residual interest” in the Lower-Tier REMIC, which will be represented by the Class LR Certificates.

 

“Class R
Certificate”: Any one of the Certificates with a “Class R” designation on the face thereof, executed and
authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the form
of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement. The Class R Certificates
have no Pass-Through Rate, Certificate Balance or Notional Balance.

 

“Class V
Certificate”: Any one of the Certificates with a “Class V” designation on the face thereof, executed
and authenticated by the Certificate Administrator or the Authenticating Agent on behalf of the Depositor in substantially the
form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement. The Class V Certificates
represent undivided beneficial interests in the Class V Specific Grantor Trust Assets.

 

“Class V
Distribution Account”: The segregated non-interest bearing trust account or sub-account created and maintained by the
Certificate Administrator pursuant to Section 3.05(k), which shall be entitled “Wells Fargo Bank, National Association,
as Certificate Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, for the benefit of the Holders
of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class V Distribution Account,” and
which must be an Eligible Account or a sub-account of an Eligible Account. The Class V Distribution Account shall not be an
asset of any Trust REMIC, but rather shall be an asset of the Grantor Trust.

 

“Class V Specific
Grantor Trust Assets”: The portion of the Trust Fund consisting of (i) the Excess Interest and (ii) the Class V Distribution
Account.

 

    	-20-

    	 

    

 

“Class X
Certificates”: The Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class X-F Certificates, collectively.

 

“Class X Component”:
Each of the Class X-A Components, Class X-B Components, Class X-C Components, Class X-D Components, Class X-E
Components and Class X-F Components.

 

“Class X Component
Notional Amount”: With respect to each Class X Component and any date of determination, an amount equal to the then Lower-Tier
Principal Balance of its Corresponding Lower-Tier Regular Interest.

 

“Class X
Notional Amount”: The Class X-A Notional Amount, the Class X-B Notional Amount, the Class X-C Notional Amount,
the Class X-D Notional Amount, the Class X-E Notional Amount or the Class X-F Notional Amount, as applicable and as the context
may require.

 

“Class X-A
Certificate”: Any one of the Certificates with a “Class X-A” designation on the face thereof, substantially
in the form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement, and evidencing
a “regular interest” in Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class X-A
Components”: Each of Component XA-1, Component XA-2, Component XA-SB, Component XA-3, Component XA-4 and Component
XA-M.

 

“Class X-A
Notional Amount”: As of any date of determination, the sum of the then Class X Component Notional Amounts of all of the
Class X-A Components.

 

“Class X-A
Pass-Through Rate”: With respect to any Distribution Date, the weighted average of the Class X-A Strip Rates for
the respective Class X-A Components for such Distribution Date, weighted on the basis of the respective Class X Component
Notional Amounts of such Components outstanding immediately prior to such Distribution Date. The Class X-A Pass-Through Rate
for the initial Distribution Date is approximately 1.219% per annum.

 

“Class X-A
Strip Rate”: With respect to any Class of Class X-A Components for any Distribution Date, (i) the Weighted Average
Net Mortgage Pass-Through Rate for such Distribution Date over (ii) the Pass-Through Rate for the Corresponding Certificates.

 

“Class X-B
Certificate”: Any one of the Certificates with a “Class X-B” designation on the face thereof, substantially
in the form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement, and evidencing
a “regular interest” in Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class X-B
Components”: Each of the Component XB and Component XC.

 

“Class X-B
Notional Amount”: As of any date of determination, the sum of the then Class X Component Notional Amounts of all of the
Class X-B Components.

 

    	-21-

    	 

    

 

“Class X-B
Pass-Through Rate”: With respect to any Distribution Date, the weighted average of the Class X-B Strip Rates for
the respective Class X-B Components for such Distribution Date, weighted on the basis of the respective Class X Component
Notional Amounts of such Components outstanding immediately prior to such Distribution Date. The Class X-B Pass-Through Rate
for the initial Distribution Date is 0.000% per annum.

 

“Class X-B
Strip Rate”: With respect to any Class of Class X-B Components for any Distribution Date, (i) the Weighted
Average Net Mortgage Pass-Through Rate for such Distribution Date over (ii) the Pass-Through Rate for the Corresponding Certificates.

 

“Class X-C
Certificate”: Any one of the Certificates with a “Class X-C” designation on the face thereof, substantially
in the form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement, and evidencing
a “regular interest” in Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class X-C
Component”: The Component XD.

 

“Class X-C
Notional Amount”: As of any date of determination, the then Class X Component Notional Amount of the Class X-C Component.

 

“Class X-C
Pass-Through Rate”: With respect to any Distribution Date, the Class X-C Strip Rate for the Class X-C Component
for such Distribution Date. The Class X-C Pass-Through Rate for the initial Distribution Date is 1.000% per annum.

 

“Class X-C
Strip Rate”: With respect to any Class of Class X-C Component for any Distribution Date, (i) the Weighted
Average Net Mortgage Pass-Through Rate for such Distribution Date over (ii) the Pass-Through Rate for the Corresponding Certificates.

 

“Class X-D
Certificate”: Any one of the Certificates with a “Class X-D” designation on the face thereof, substantially
in the form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement, and evidencing
a “regular interest” in Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class X-D
Component”: Each of the Component XE and Component XF.

 

“Class X-D
Notional Amount”: As of any date of determination, the sum of the then Class X Component Notional Amounts of all of the
Class X-D Components.

 

“Class X-D
Pass-Through Rate”: With respect to any Distribution Date, the weighted average of the Class X-D Strip Rates for
the respective Class X-D Components for such Distribution Date, weighted on the basis of the respective Class X Component
Notional Amounts of such Components outstanding immediately prior to such Distribution Date. The Class X-D Pass-Through Rate
for the initial Distribution Date is approximately 1.395% per annum.

 

    	-22-

    	 

    

 

“Class X-D
Strip Rate”: With respect to any Class of Class X-D Component for any Distribution Date, (i) the Weighted
Average Net Mortgage Pass-Through Rate for such Distribution Date over (ii) the Pass-Through Rate for the Corresponding Certificates.

 

“Class X-E
Certificate”: Any one of the Certificates with a “Class X-E” designation on the face thereof, substantially
in the form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement, and evidencing
a “regular interest” in Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class X-E
Component”: The Component XG.

 

“Class X-E
Notional Amount”: As of any date of determination, the then Class X Component Notional Amount of the Class X-E Component.

 

“Class X-E
Pass-Through Rate”: With respect to any Distribution Date, the Class X-E Strip Rate for the Class X-E Component
for such Distribution Date. The Class X-E Pass-Through Rate for the initial Distribution Date is approximately 1.395% per
annum.

 

“Class X-E
Strip Rate”: With respect to any Class of Class X-E Component for any Distribution Date, (i) the Weighted
Average Net Mortgage Pass-Through Rate for such Distribution Date over (ii) the Pass-Through Rate for the Corresponding Certificates.

 

“Class X-F
Certificate”: Any one of the Certificates with a “Class X-F” designation on the face thereof, substantially
in the form of the Exhibit set forth next to such Class in the Table of Exhibits of this Agreement, and evidencing
a “regular interest” in Upper-Tier REMIC for purposes of the REMIC Provisions.

 

“Class X-F
Component”: The Component XH.

 

“Class X-F
Notional Amount”: As of any date of determination, the then Class X Component Notional Amount of the Class X-F Component.

 

“Class X-F
Pass-Through Rate”: With respect to any Distribution Date, the Class X-F Strip Rate for the Class X-F Component
for such Distribution Date. The Class X-F Pass-Through Rate for the initial Distribution Date is approximately 1.395% per
annum.

 

“Class X-F
Strip Rate”: With respect to any Class of Class X-F Component for any Distribution Date, (i) the Weighted
Average Net Mortgage Pass-Through Rate for such Distribution Date over (ii) the Pass-Through Rate for the Corresponding Certificates.

 

“Clearstream”:
Clearstream Banking Luxembourg, a division of Clearstream International, société anonyme.

 

“Closing Date”:
October 8, 2015.

 

“Code”:
The Internal Revenue Code of 1986, as amended from time to time, any successor statute thereto, and any temporary or final regulations
of the United States Department of the Treasury promulgated pursuant thereto.

 

    	-23-

    	 

    

 

“Collection
Account”: The trust account or accounts created and maintained by the Master Servicer pursuant to Section 3.05(a)
of this Agreement, which shall be entitled “Wells Fargo Bank, National Association, as Master Servicer, on behalf of Wilmington
Trust, National Association, as Trustee, for the benefit of the Holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage
Pass-Through Certificates, Collection Account” and which must be an Eligible Account.

 

“Collection
Period”: With respect to any Distribution Date and each Mortgage Loan, the period that begins immediately following the
Determination Date in the calendar month preceding the month in which such Distribution Date occurs (or, in the case of the Distribution
Date occurring in September 2015, on the day after the Cut-off Date) and ending at the close of business on the Determination Date
in the calendar month in which such Distribution Date occurs.

 

“COMM 2015-CCRE24
Pooling and Servicing Agreement”: The pooling and servicing agreement, dated as of August 1, 2015, between Deutsche Mortgage
& Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master servicer, LNR Partners, LLC,
as special servicer, Wilmington Trust, National Association, as trustee, Wells Fargo Bank, National Association, as certificate
administrator, paying agent and custodian, and Park Bridge Lender Services LLC, as operating advisor, entered into in connection
with the issuance of COMM 2015-CCRE24 Mortgage Trust Commercial Mortgage Pass-Through Certificates.

 

“COMM 2015-CCRE25
Pooling and Servicing Agreement”: The pooling and servicing agreement, dated as of August 1, 2015, between Deutsche Mortgage
& Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master servicer, LNR Partners, LLC,
as a special servicer, CWCapital Asset Management LLC, as a special servicer, Wilmington Trust, National Association, as trustee,
Deutsche Bank Trust Company Americas, as certificate administrator, paying agent and custodian, and Pentalpha Surveillance LLC,
as operating advisor, entered into in connection with the issuance of COMM 2015-CCRE25 Mortgage Trust Commercial Mortgage Pass-Through
Certificates.

 

“Commission”:
The Securities and Exchange Commission.

 

“Companion Loan”:
A Serviced Companion Loan or Non-Serviced Companion Loan, as applicable and as the context may require.

 

“Companion Loan
Noteholder”: A holder of a Companion Loan.

 

“Component XA-1”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-1 Interest as of any date of determination.

 

“Component XA-2”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-2 Interest as of any date of determination.

 

    	-24-

    	 

    

 

“Component XA-3”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-3 Interest as of any date of determination.

 

“Component XA-4”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-4 Interest as of any date of determination.

 

“Component XA-SB”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-SB Interest as of any date of determination.

 

“Component XA-M”:
One of the components of the Class X-A Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LA-M Interest as of any date of determination.

 

“Component XB”:
One of the components of the Class X-B Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LB Interest as of any date of determination.

 

“Component XC”:
One of the components of the Class X-B Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LC Interest as of any date of determination.

 

“Component XD”:
The component of the Class X-C Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LD Interest as of any date of determination.

 

“Component XE”:
One of the components of the Class X-D Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LE Interest as of any date of determination.

 

“Component XF”:
One of the components of the Class X-D Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LF Interest as of any date of determination.

 

“Component XG”:
The component of the Class X-E Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LG Interest as of any date of determination.

 

“Component XH”:
The component of the Class X-F Certificates having a Class X Component Notional Amount equal to the then current Lower-Tier
Principal Balance of the Class LH Interest as of any date of determination.

 

“Condemnation
Proceeds”: Any awards resulting from the full or partial condemnation or any eminent domain proceeding or any conveyance
in lieu or in anticipation thereof with respect to a Mortgaged Property by or to any governmental, quasi-governmental

 

    	-25-

    	 

    

 

authority
or private entity with condemnation powers (other than amounts to be applied to the restoration, preservation or repair of such
Mortgaged Property or released to the related Borrower in accordance with the terms of the REMIC Provisions and the applicable
Loan Documents for the related Mortgage Loan or Serviced Loan Combination) or, if applicable, with respect to the Mortgaged Property
securing a Serviced Loan Combination, any portion of such amounts payable to the holders of the applicable Mortgage Loan. With
respect to the Mortgaged Property securing any Non-Serviced Mortgage Loan or Non-Serviced Companion Loan, only the portion of such
amounts payable to the holder of the related Non-Serviced Mortgage Loan shall be included in Condemnation Proceeds.

 

“Consultation
Termination Event”: Shall occur under the following circumstances, with respect to each Mortgage Loan (other than Non-Serviced
Mortgage Loans, Servicing Shift Mortgage Loans and Excluded Mortgage Loans) and Serviced Loan Combination (other than Servicing
Shift Loan Combinations) at any date on which (i) no Class of Control Eligible Certificates exists that has a Certificate Balance
that is at least equal to 25% of the initial Certificate Balance of that Class or (ii) such Consultation Termination Event is deemed
to occur as described in Section 4.08(a). With respect to Excluded Mortgage Loans, a Consultation Termination Event will be deemed
to exist.

 

“Control Eligible
Certificates”: Any of the Class E, Class F, Class G and Class H Certificates.

 

“Control Termination
Event”: Shall occur under the following circumstances, with respect to each Mortgage Loan (other than Non-Serviced Mortgage
Loans, Servicing Shift Mortgage Loans and Excluded Mortgage Loans) and Serviced Loan Combination (other than Servicing Shift Loan
Combinations), at any date on which (i) no Class of Control Eligible Certificates exists that has a Certificate Balance (as notionally
reduced by any Appraisal Reduction Amounts allocable to such Class) that is at least equal to 25% of the initial Certificate Balance
of that Class or (ii) such Control Termination Event is deemed to occur as described in Section 4.08(a). With respect to Excluded
Mortgage Loans, a Control Termination Event will be deemed to exist.

 

“Controlling
Class”: As of any date of determination, the most subordinate Class of Control Eligible Certificates then outstanding
that has a then aggregate Certificate Balance (as notionally reduced by any Appraisal Reduction Amounts allocable to such Class
in accordance with Section 4.08(a) of this Agreement) at least equal to 25% of the initial Certificate Balance of that Class
or if no Class of Control Eligible Certificates meets the preceding requirement, the most senior Class of Control Eligible Certificates.
The Controlling Class as of the Closing Date will be the Class H Certificates.

 

“Controlling
Class Certificateholder”: Each Holder (or Beneficial Owner, if applicable) of a Certificate of the Controlling Class
as determined by the Certificate Registrar to the Certificate Administrator from time to time.

 

“Controlling
Class Representative”: The Controlling Class Certificateholder (or a representative thereof) selected by the Majority
Controlling Class Certificateholders; provided, that (i) absent such selection, or (ii) until a Controlling
Class Representative is so

 

    	-26-

    	 

    

 

selected or (iii) upon receipt of a written notice from the Majority Controlling Class Certificateholders
that a Controlling Class Representative is no longer designated, then the Controlling Class Certificateholder that owns the
largest aggregate Certificate Balance of the Controlling Class shall be the Controlling Class Representative upon notification
to the Certificate Registrar (and the Certificate Registrar’s notice to the other parties to this Agreement) of such Controlling
Class Certificateholder’s identity and contact information.

 

The initial Controlling
Class Representative on the Closing Date shall be Seer Capital Partners Master Fund L.P. (or its affiliate), and the Certificate
Registrar and the other parties to this Agreement shall be entitled to assume Seer Capital Partners Master Fund L.P. (or its affiliate),
or any successor Controlling Class Representative selected thereby and notified to the Certificate Registrar and the other parties
to this Agreement thereof in writing, is the Controlling Class Representative as Holder (or Beneficial Owner) of at least a majority
of the applicable Class of Control Eligible Certificates, until the Certificate Registrar and the other parties to this Agreement
receive (a) written notice of a replacement Controlling Class Representative from the Majority Controlling Class Certificateholders
or (b) written notice from a majority of the Controlling Class Certificateholders or the Special Servicer that Seer Capital Partners
Master Fund L.P. (or its affiliate) is no longer the Holder (or Beneficial Owner) of at least a majority of the applicable Class
of Control Eligible Certificates due to a transfer of those Certificates (or a beneficial ownership interest in those Certificates).
In the event of clause (b) above, if no successor Controlling Class Representative is then identified to the Certificate Registrar
and the other parties this Agreement or until such time as the Certificate Registrar provides notice of the identity and contact
information of the largest aggregate Controlling Class Certificateholder to the parties to this Agreement, then there will be deemed
to be no Controlling Class Representative until such time as the Certificate Registrar and the other parties to this Agreement
receive notice of a successor Controlling Class Representative.

 

“Controlling
Companion Loan”: As of the Closing Date, there will be no Controlling Companion Loan related to the Trust.

 

“Corporate Trust
Office”: The offices of: (a) the Trustee, located at 1100 North Market Street, Wilmington, Delaware 19890, Attention:
CMBS Trustee – COMM 2015-CCRE26, or the principal trust office of any successor trustee qualified and appointed pursuant
to this Agreement; and (b) the Certificate Administrator, located at 9062 Old Annapolis Road, Columbia, Maryland 21045, Attention:
Corporate Trust Services – COMM 2015-CCRE26, or, in the case of any surrender, transfer or exchange at Wells Fargo Center,
Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479-0113, Attention: COMM 2015-CCRE26, or the principal trust office
of any successor certificate administrator qualified and appointed pursuant to this Agreement.

 

“Corrected Mortgage
Loan”: As defined under the definition of Specially Serviced Loan.

 

“Corresponding
Certificates”: As defined in the Preliminary Statement with respect to any Corresponding Lower-Tier Regular Interest
or Corresponding Class X Component.

 

    	-27-

    	 

    

 

“Corresponding
Class X Components”: As defined in the Preliminary Statement with respect to any Corresponding Certificates or any Corresponding
Lower-Tier Regular Interest or Class X Component.

 

“Corresponding
Lower-Tier Regular Interests”: As defined in the Preliminary Statement with respect to any Corresponding Certificates
or Corresponding Class X Component.

 

“CREFC®”:
Commercial Real Estate Finance Council®, formerly known as Commercial Mortgage Securities Association, or any association
or organization that is a successor thereto. If neither such association nor any successor remains in existence, “CREFC®”
shall be deemed to refer to such other association or organization as may exist whose principal membership consists of servicers,
trustees, certificateholders, issuers, placement agents and underwriters generally involved in the commercial mortgage loan securitization
industry, which is the principal such association or organization in the commercial mortgage loan securitization industry and whose
principal purpose is the establishment of industry standards for reporting transaction-specific information relating to commercial
mortgage pass-through certificates and commercial mortgage-backed bonds and the commercial mortgage loans and foreclosed properties
underlying or backing them to investors holding or owning such certificates or bonds, and any successor to such other association
or organization. If an organization or association described in one of the preceding sentences of this definition does not exist,
“CREFC®” shall be deemed to refer to such other association or organization as shall be selected by
the Master Servicer and reasonably acceptable to the Certificate Administrator, the Trustee, the Special Servicer and, if no Control
Termination Event has occurred and is continuing, the Directing Holder.

 

“CREFC®
Appraisal Reduction Template”: A report substantially in the form of, and containing the information called for in, the
downloadable form of the “Appraisal Reduction Template” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Advance Recovery Report”: A monthly report substantially in the form of, and containing the information called for in,
the downloadable form of the “Advance Recovery Report” available as of the Closing Date on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from time
to time be approved by the CREFC® for commercial mortgage-backed securities transactions generally.

 

“CREFC®
Bond Level File”: The data file in the “CREFC® Bond Level File” format substantially in the
form of and containing the information called for therein, or such other form for the presentation of such information as may be
approved from time to time by the CREFC® for commercial mortgage-backed securities transactions generally.

 

“CREFC®
Collateral Summary File”: The data file in the “CREFC® Collateral Summary File” format substantially
in the form of and containing the information called for therein, or such other form for the presentation of such information as
may be approved from time to time by the CREFC® for commercial mortgage-backed securities transactions generally.

 

    	-28-

    	 

    

 

“CREFC®
Comparative Financial Status Report”: The monthly report in “Comparative Financial Status Report” format
substantially in the form of and containing the information called for therein for the Mortgage Loans or Serviced Loan Combinations,
or such other form for the presentation of such information as may be approved from time to time by the CREFC® for
commercial mortgage-backed securities transactions generally. In connection with preparing the CREFC® Comparative
Financial Status Report, the Master Servicer shall process (a) interim financial statements beginning with interim financial
statements for the fiscal quarter ending March 31, 2016, and (b) annual financial statements beginning with annual financial
statements for the 2015 fiscal year.

 

“CREFC®
Delinquent Loan Status Report”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Delinquent Loan Status Report” available as of the Closing Date on the CREFC®
Website, or no later than 90 days after its adoption, such other form for the presentation of such information and containing
such additional information as may from time to time be approved by the CREFC® for commercial mortgage-backed securities
transactions generally.

 

“CREFC®
Financial File”: The data file in the “CREFC® Financial File” format substantially in the
form of and containing the information called for therein for the Mortgage Loans or Serviced Loan Combinations, or such other form
for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage-backed
securities transactions generally. The initial data for this report shall be provided by each Mortgage Loan Seller.

 

“CREFC®
Historical Bond/Collateral Realized Loss Reconciliation Template”: A report substantially in the form of, and containing
the information called for in, the downloadable form of the “Historical Bond/Collateral Realized Loss Reconciliation Template”
available and effective from time to time on the CREFC® Website.

 

“CREFC®
Historical Liquidation Loss Template”: A report substantially in the form of, and containing the information called for
in, the downloadable form of the “Historical Liquidation Loss Template” available and effective from time to time on
the CREFC® Website.

 

“CREFC®
Historical Loan Modification and Corrected Mortgage Loan Report”: The monthly report in the “Historical Loan Modification
and Corrected Mortgage Loan Report” format substantially in the form of and containing the information called for therein
for the Mortgage Loans or Serviced Loan Combinations, or such other form for the presentation of such information as may be approved
from time to time by the CREFC® for commercial mortgage-backed securities transactions generally.

 

“CREFC®
Interest Shortfall Reconciliation Template”: A report substantially in the form of, and containing the information called
for in, the downloadable form of the “Interest Shortfall Reconciliation Template” available and effective from time
to time on the CREFC® Website.

 

    	-29-

    	 

    

 

“CREFC®
Investor Reporting Package (CREFC® IRP)”:

 

(a)          The
following seven electronic files: (i) CREFC® Loan Setup File, (ii) CREFC® Loan Periodic
Update File, (iii) CREFC® Property File, (iv) CREFC® Bond Level File, (v) CREFC®
Financial File, (vi) CREFC® Collateral Summary File and (vii) CREFC® Special Servicer Loan
File;

 

(b)          The
following eleven supplemental reports: (i) CREFC® Delinquent Loan Status Report, (ii) CREFC®
Historical Loan Modification and Corrected Mortgage Loan Report, (iii) CREFC® REO Status Report, (iv) CREFC®
Operating Statement Analysis Report, (v) CREFC® Comparative Financial Status Report, (vi) CREFC®
Servicer Watch List, (vii) CREFC® Loan Level Reserve/LOC Report, (viii) CREFC® NOI Adjustment
Worksheet, (ix) CREFC® Advance Recovery Report, (x) CREFC® Total Loan Report and (xi) CREFC®
Reconciliation of Funds Report;

 

(c)          the
following eight templates: (i) CREFC® Appraisal Reduction Template, (ii) CREFC® Servicer
Realized Loss Template, (iii) CREFC® Reconciliation of Funds Template, (iv) CREFC® Historical
Bond/Collateral Realized Loss Reconciliation Template, (v) CREFC® Historical Liquidation Loss Template, (vi) CREFC®
Interest Shortfall Reconciliation Template, (vii) CREFC® Servicer Remittance to Trustee Template and (viii) CREFC®
Significant Insurance Event Template; and

 

(d)         such
other reports and data files as CREFC® may designate as part of the “CREFC® Investor Reporting
Package (CREFC® IRP)” from time to time generally.

 

“CREFC®
License Agreement”: The License Agreement, in the form set forth on the website of CREFC® on the Closing
Date, relating to the use of the CREFC® trademarks and trade names.

 

“CREFC®
License Fee”: With respect to each Mortgage Loan and for any Distribution Date, an amount per Interest Accrual Period
equal to the product of (i) the CREFC® License Fee Rate (adjusted to a monthly rate) multiplied by (ii) the
Stated Principal Balance of such Mortgage Loan as of the Due Date in the immediately preceding Collection Period (without giving
effect to payments of principal on such Mortgage Loan on such Due Date). Any payments of the CREFC® License Fee
shall be made to “CRE Finance Council” and delivered by wire transfer pursuant to the following instructions (or such
other instructions as may hereafter be furnished by CREFC® to the Master Servicer in writing at least two Business
Days prior to the Servicer Remittance Date):

 

Account Name: Commercial
Real Estate Finance Council (CREFC®) 

Bank Name: JPM Morgan
Chase Bank, National Association 

Bank Address: 80 Broadway,
New York, NY 10005 

Routing Number: 021000021 

Account Number: 213597397

 

“CREFC®
License Fee Rate”: A rate equal to 0.0005% per annum.

 

    	-30-

    	 

    

 

“CREFC®
Loan Level Reserve/LOC Report”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Loan Level Reserve/LOC Report” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Loan Periodic Update File”: The monthly data file substantially in the form of, and containing the information called
for in, the downloadable form of the “CREFC® Loan Periodic Update File” available and effective from
time to time on the CREFC® Website and, provided that each CREFC® Loan Periodic Update File
shall be accompanied by a CREFC® Advance Recovery Report, if such report is required for a particular month, and
all references herein to “CREFC® Loan Periodic Update File” shall be construed accordingly.

 

“CREFC®
Loan Setup File”: The data file substantially in the form of, and containing the information called for in, the downloadable
form of the “CREFC® Loan Setup File” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
NOI Adjustment Worksheet”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “NOI Adjustment Worksheet” available and effective from time to time on the CREFC® Website.

 

“CREFC®
Operating Statement Analysis Report”: A report substantially in the form of, and containing the information called for
in, the downloadable form of the “Operating Statement Analysis Report” available and effective from time to time on
the CREFC® Website.

 

“CREFC®
Property File”: The monthly data file substantially in the form of, and containing the information called for, in the
downloadable form of the “CREFC® Property File” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Reconciliation of Funds Template”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Reconciliation of Funds Template” available and effective from time to time on the CREFC®
Website, or such other form for the presentation of such information and containing such additional information as may from time
to time be recommended by the CREFC® for commercial mortgage-backed securities transactions generally.

 

“CREFC®
REO Status Report”: A monthly report substantially in the form of, and containing the information called for in, the
downloadable form of the “REO Status Report” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Servicer Realized Loss Template”: A report substantially in the form of, and containing the information called for in,
the downloadable form of the “Servicer Realized Loss Template” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Servicer Watch List”: A report substantially in the form of, and containing the information called for in, the downloadable
form of the “Servicer Watch List” available and effective from time to time on the CREFC® Website.

 

    	-31-

    	 

    

 

“CREFC®
Special Servicer Loan File”: The monthly data file substantially in the form of, and containing the information called
for in, the downloadable form of the “Special Servicer Loan File” available and effective from time to time on the
CREFC® Website.

 

“CREFC®
Supplemental Servicer Reports”: The CREFC® Delinquent Loan Status Report, the CREFC® Historical
Loan Modification and Corrected Mortgage Loan Report, the CREFC® REO Status Report, the CREFC® Servicer
Watch List, the CREFC® NOI Adjustment Worksheet, the CREFC® Comparative Financial Status Report,
the CREFC® Operating Statement Analysis Report, the CREFC® Loan Level Reserve/LOC Report, the CREFC®
Advance Recovery Report and the CREFC® Total Loan Report.

 

“CREFC®
Total Loan Report”: The monthly report substantially in the form of, and containing the information called for in, the
downloadable form of the “Total Loan Report” available and effective from time to time on the CREFC®
Website.

 

“CREFC®
Website”: The CREFC®’s Website located at www.crefc.org or such other primary website as
the CREFC® may establish for dissemination of its report forms.

 

“Crossover Date”:
The Distribution Date, if any, on which the Certificate Balance of each Class of Sequential Pay Certificates (other than the Class A-1,
Class A-2, Class A-SB, Class A-3 and Class A-4 Certificates) is (or will be) reduced to zero.

 

“Custodial Agreement”:
The Custodial Agreement, if any, from time to time in effect between the Custodian named therein and the Certificate Administrator,
in the form agreed to by the Certificate Administrator and the Custodian, as the same may be amended or modified from time to time
in accordance with the terms thereof. No Custodial Agreement will be required if the Custodian is the same party as the Certificate
Administrator.

 

“Custodian”:
Any Custodian appointed pursuant to Section 3.19 of this Agreement. If a Custodian is not so appointed, then the Custodian
shall be the Certificate Administrator. The Custodian may (but need not) be the Certificate Administrator, the Trustee or the Master
Servicer or any Affiliate of the Certificate Administrator, the Trustee or the Master Servicer.

 

“Cut-off Date”:
With respect to each Mortgage Loan, the later of the related Due Date of such Mortgage Loan in October 2015 and the date of origination
of such Mortgage Loan.

 

“DBRS”:
DBRS, Inc., or its successor in interest. If neither such rating agency nor any successor remains in existence, “DBRS”
shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated
by the Depositor, notice of which designation shall be given to the other parties hereto, and specific ratings of DBRS herein referenced
shall be deemed to refer to the equivalent ratings of the party so designated.

 

“Debt Service
Coverage Ratio”: With respect to any Mortgage Loan or Serviced Loan Combination as of any date of determination and for
any period, the ratio

 

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calculated by dividing the net operating income or net cash flow, as applicable, of the related Mortgaged
Property or Mortgaged Properties, as the case may be, for the most recently ended 12-month trailing or one-year period for which
data is available from the related Borrower (or year-to-date until such time that data for the trailing 12-month period is available),
before payment of any scheduled payments of principal and interest on such Mortgage Loan or Serviced Loan Combination but after
funding of required reserves and “normalized” information from the CREFC® NOI Adjustment Worksheet for
such Mortgaged Property by the Master Servicer or Special Servicer, if applicable, pursuant to Section 3.13 of this Agreement,
by the annual debt service required by such Mortgage Loan or Serviced Loan Combination. Annual debt service shall be calculated
by multiplying the Monthly Payment in effect on such date of determination for such Mortgage Loan or Serviced Loan Combination
by 12 (or such fewer number of months for which related information is available).

 

“Default”:
An event of default under the Loan Documents for any Mortgage Loan or Loan Combination, or an event which, with the passage of
time or the giving of notice, or both, would constitute an event of default under the Loan Documents for such Mortgage Loan or
Loan Combination.

 

“Default Interest”:
With respect to any Mortgage Loan or Serviced Companion Loan, interest accrued on such Mortgage Loan or Serviced Companion Loan
(other than Excess Interest) at the excess of (i) the related Default Rate over (ii) the related Mortgage Rate.

 

“Default Rate”:
With respect to each Mortgage Loan or Serviced Companion Loan, the per annum rate at which interest accrues on such Mortgage
Loan or Serviced Companion Loan following any event of default on such Mortgage Loan or Serviced Companion Loan, including a default
in the payment of a Monthly Payment or a Balloon Payment.

 

“Defaulted Mortgage
Loan”: A Mortgage Loan or Serviced Loan Combination that is delinquent at least 60 days in respect of its Monthly
Payments or more than 60 days delinquent in respect of its Balloon Payment, if any, in either case such Delinquency to be
determined without giving effect to any grace period permitted by the related Loan Documents and without regard to any acceleration
of payments under the related Mortgage Loan or Serviced Loan Combination.

 

“Defeasance
Account”: As defined in Section 3.26(j) of this Agreement.

 

“Defect”:
As defined in Section 2.03(e) of this Agreement.

 

“Deficient Exchange
Act Deliverable”: With respect to the Master Servicer, the Special Servicer, the Operating Advisor, the Custodian, the
Certificate Administrator, the Trustee and each Servicing Function Participant and Additional Servicer retained by it (other than
a Mortgage Loan Seller Sub-Servicer), any item (x) regarding such party, (y) prepared by such party or any registered public accounting
firm, attorney or other agent retained by such party to prepare such information and (z) delivered by or on behalf of such party
pursuant to the delivery requirements under Article X of this Agreement that does not conform to the

 

    	-33-

    	 

    

 

applicable reporting
requirements under the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and the rules and regulations promulgated thereunder.

 

“Delinquency”:
Any failure of a Borrower to make a scheduled Monthly Payment or Balloon Payment on a Due Date.

 

“Denomination”:
As defined in Section 5.01(a) of this Agreement.

 

“Depositor”:
Deutsche Mortgage & Asset Receiving Corporation, a Delaware corporation, and its successors and assigns.

 

“Depository”:
The Depository Trust Company or a successor appointed by the Certificate Registrar (which appointment shall be at the direction
of the Depositor if the Depositor is legally able to do so).

 

“Depository
Participant”: A Person for whom, from time to time, the Depository effects book-entry transfers and pledges of securities
deposited with the Depository.

 

“Determination
Date”: With respect to any Distribution Date, the sixth day of the calendar month of the related Distribution Date or,
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015.

 

“Directing Holder”:
With respect to (i) each Mortgage Loan (other than Non-Serviced Mortgage Loans, Servicing Shift Mortgage Loans and Excluded Mortgage
Loans) and Serviced Loan Combination (other than Servicing Shift Loan Combinations), the Controlling Class Representative, (ii)
each Servicing Shift Loan Combination, the related Loan-Specific Directing Holder, and (iii) each Excluded Mortgage Loan, there
will be no Directing Holder.

 

At such time as there
is no Controlling Class in accordance with the definition thereof, the Directing Holder (described in clause (i) of the prior sentence
of this definition) shall have no rights as the Directing Holder under this Agreement.

 

The identification and
contact information of each initial Directing Holder as of the Closing Date is set forth on Schedule I to this Agreement.
The parties to this Agreement may rely on such Schedule in accordance with Section 3.29.

 

“Directly Operate”:
With respect to any Serviced REO Property, the furnishing or rendering of services to the tenants thereof that are not customarily
provided to tenants in connection with the rental of space for occupancy only within the meaning of Treasury Regulations Section 1.512(b)-1(c)(5),
the management or operation of such Serviced REO Property, the holding of such Serviced REO Property primarily for sale to customers
in the ordinary course of a trade or business, or any use of such Serviced REO Property in a trade or business conducted by the
Trust Fund, or the performance of any construction work on the Serviced REO Property other than through an Independent Contractor;
provided that the Special Servicer, on behalf of the Trust Fund, shall not be considered to Directly Operate a Serviced
REO Property solely because the Special Servicer, on behalf of the Trust Fund, establishes rental terms, chooses tenants, enters
into or renews leases, deals with taxes and

 

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insurance, or makes decisions as to repairs or capital expenditures with respect to
such Serviced REO Property or takes other actions consistent with Treasury Regulations Section l.856-4(b)(5)(ii).

 

“Disclosable
Special Servicer Fees”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan), Serviced Loan Combination
or Serviced REO Property, any compensation and other remuneration (including, without limitation, in the form of commissions, brokerage
fees, rebates and as a result of any other fee-sharing arrangement) received or retained by the Special Servicer or any of its
Affiliates that is paid by any Person (including, without limitation, the Trust, any Borrower, any Manager, any guarantor or indemnitor
in respect of a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination and any purchaser of any Mortgage
Loan (other than a Non-Serviced Mortgage Loan), Serviced Loan Combination or Serviced REO Property) in connection with the disposition,
workout or foreclosure of any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination, if applicable,
the management or disposition of any Serviced REO Property, and the performance by the Special Servicer or any such Affiliate of
any other special servicing duties under this Agreement unless otherwise included in the Distribution Date Statement for the applicable
period; provided that any compensation and other remuneration that the Master Servicer or Certificate Administrator is permitted
to receive or retain pursuant to the terms of this Agreement in connection with its respective duties in such capacity as Master
Servicer or Certificate Administrator under this Agreement shall not be Disclosable Special Servicer Fees.

 

“Disclosure
Parties”: As defined in Section 3.14(e) of this Agreement.

 

“Disqualified
Non-U.S. Person”: With respect to a Class R or Class LR Certificate, (A) any Non-U.S. Person or agent
thereof other than (i) a Non-U.S. Person that holds the Class R or Class LR Certificate in connection with the conduct
of a trade or business within the United States and has furnished the transferor and the Certificate Registrar with an effective
IRS Form W-8ECI (or applicable successor Form promulgated by the IRS for the purpose of providing and certifying the information
provided on Form W-8ECI as of the Closing Date) or (ii) a Non-U.S. Person that has delivered to both the transferor and the
Certificate Registrar an opinion of a nationally recognized tax counsel to the effect that the transfer of the Class R or
Class LR Certificate to it is in accordance with the requirements of the Code and the regulations promulgated thereunder and
that such transfer of the Class R or Class LR Certificate will not be disregarded for federal income tax purposes, (B) an
entity treated as a domestic partnership for U.S. federal income tax purposes, one or more of the direct or indirect beneficial
owners (other than through a U.S. corporation) of which is (or is permitted under the applicable partnership agreement to be) a
Non-U.S. Person who is not described in clause (A)(i) or (ii) or (C) a U.S. Person with respect to whom income
on the Class R or Class LR Certificate is attributable to a fixed base or foreign permanent establishment, within the
meaning of an applicable income tax treaty, of such transferee or any other U.S. Person.

 

“Disqualified
Organization”: Any of (a) the United States, a State or any political subdivision thereof or any agency or instrumentality
of any of the foregoing (other than an instrumentality that is a corporation if all of its activities are subject to tax and, except

 

    	-35-

    	 

    

 

for the Federal Home Mortgage Corporation, a majority of its board of directors is not selected by any such governmental unit),
(b) a foreign government, International Organization (as defined below) or agency or instrumentality of either of the foregoing,
(c) an organization that is exempt from tax imposed by Code Chapter 1 (including the tax imposed by Section 511 of the
Code on unrelated business taxable income) on any excess inclusions (as defined in Section 860E(c)(1) of the Code) with respect
to the Class R or Class LR Certificates (except certain farmers’ cooperatives described in Section 521 of
the Code), (d) rural electric and telephone cooperatives described in Section 1381(a)(2)(C) of the Code, or (e) any
other Person so designated by the Certificate Registrar based upon an Opinion of Counsel provided to the Certificate Registrar
(which shall be an expense of the Trust) to the effect that any Transfer to such Person may cause either Trust REMIC to be subject
to tax or to fail to qualify as a REMIC at any time that the Certificates are outstanding. For the purposes of this definition,
the terms “United States,” “State” and “International Organization” shall have the meanings
set forth in Section 7701 of the Code or successor provisions.

 

“Distribution
Accounts”: Collectively, the Upper-Tier Distribution Account, the Lower-Tier Distribution Account and the Class V
Distribution Account, each of which may be sub-accounts of a single Eligible Account.

 

“Distribution
Date”: For each Determination Date, the fourth Business Day following such Determination Date in each calendar month,
commencing in November 2015. The first Distribution Date shall be November 13, 2015.

 

“Distribution
Date Statement”: As defined in Section 4.02(a) of this Agreement.

 

“Do Not Hire
List”: The list, as may be updated at any time, provided by the Depositor to the Master Servicer, Special Servicer, the
Certificate Administrator, Trustee or Operating Advisor, which lists certain parties identified by the Depositor as having failed
to comply (after any applicable cure period) with their respective obligations under Article X of this Agreement or as having
failed to comply (after any applicable cure period) with any similar Regulation AB reporting requirements under any other securitization
transaction.

 

“Due Date”:
With respect to (i) any Mortgage Loan or Serviced Loan Combination on or prior to its Maturity Date, the day of the month
set forth in the related Note on which each Monthly Payment thereon is scheduled to be first due and (ii) any Mortgage Loan
or Serviced Loan Combination after the Maturity Date therefor or any REO Loan, the day of the month set forth in the related Note
on which each Monthly Payment on such Mortgage Loan or Serviced Loan Combination had been scheduled to be first due.

 

“Early Termination
Notice Date”: Any date as of which the aggregate Stated Principal Balance of the Mortgage Loans remaining in the Trust
is less than 1.0% of the aggregate Stated Principal Balance of all of the Mortgage Loans as of the Cut-off Date.

 

“EDGAR Compatible
Format”: Any format compatible with EDGAR, including, without limitation, HTML, word, excel or clean and searchable PDF.

 

    	-36-

    	 

    

 

“Eligible Account”:
Any of:

 

(i)         an
account or accounts maintained with a depository institution or trust company (A) the short-term unsecured debt obligations or
commercial paper of which are rated at least “F1” by Fitch, “P-1” by Moody’s and at least the equivalent
by KBRA (if then rated by KBRA), in the case of accounts in which deposits are held for 30 days or less or (B) in the case of accounts
in which deposits are held for more than 30 days, the long-term unsecured debt obligations of which are rated at least “A”
by Fitch, “A2” by Moody’s and at least the equivalent by KBRA (if then rated by KBRA),

 

(ii)        an
account or accounts maintained with Wells Fargo Bank, National Association, so long as such depository’s long-term unsecured
debt or deposit accounts are rated at least “BBB+” by Fitch, “A2” by Moody’s and at least the equivalent
by KBRA (if then rated by KBRA) (if the deposits are to be held in the account for more than 30 days) or its short term deposit
accounts or short term unsecured debt is rated at least “F2” by Fitch, “P-1” by Moody’s and at least
the equivalent by KBRA (if then rated by KBRA) (if the deposits are to be held in the account for 30 days or less),

 

(iii)       an
account or accounts maintained with Wells Fargo Bank, National Association, so long as it meets the eligibility standards of the
Certificate Administrator set forth in this Agreement,

 

(iv)       a
segregated trust account or accounts maintained with the trust department of a federal or state chartered depository institution
or trust company acting in its fiduciary capacity which institution or trust company (which, subject to the remainder of this clause
(iv), may include the Certificate Administrator or the Trustee) has a combined capital and surplus of at least $50,000,000 and
is subject to supervision or examination by federal or state authority and to regulations regarding fiduciary funds on deposit
similar to Title 12 of the Code of Federal Regulations, Section 9.10(b) and the long term unsecured debt obligations of which are
rated at least “A2” by Moody’s,

 

(v)        such
other account or accounts that, but for the failure to satisfy one or more of the minimum rating(s) set forth in the applicable
clause, would be listed in clauses (i)-(iv) above, with respect to which a No Downgrade Confirmation has been obtained from each
Rating Agency for which the minimum ratings set forth in the applicable clause is not satisfied with respect to such account,
or

 

(vi)       any
other account as to which the Certificate Administrator, the Trustee, the Master Servicer or the Special Servicer, as applicable,
receives a No Downgrade Confirmation from each Rating Agency, which may be an account maintained by or with the Certificate Administrator,
the Trustee, the Master Servicer or the Special Servicer.

 

    	-37-

    	 

    

 

Eligible
Accounts may bear interest.

 

“Eligible Investor”:
Any of (i) a Qualified Institutional Buyer that is purchasing for its own account or for the account of a Qualified Institutional
Buyer to whom notice is given that the offer, sale or transfer is being made in reliance on Rule 144A or (ii) (except
with respect to the Class R and Class LR Certificates) an Institutional Accredited Investor.

 

“Eligible Operating
Advisor”: An institution (i) that is the special servicer or operating advisor on a commercial mortgage-backed securities
transaction rated by DBRS, Fitch, KBRA, Moody’s, Morningstar or S&P (including, in the case of Park Bridge Lender Services
LLC, this transaction) but has not been special servicer on a transaction for which DBRS, KBRA, Fitch, Moody’s, Morningstar
or S&P has qualified, downgraded or withdrawn its rating or ratings of, one or more classes of certificates for such transaction
citing servicing concerns with the special servicer as the sole or material factor in such rating action, (ii) that can and
will make the representations and warranties set forth in Section 2.04(f) of this Agreement, (iii) that is not the Depositor,
the Master Servicer, the Special Servicer, a Sponsor, a Mortgage Loan Seller, the Controlling Class Representative, the Directing
Holder, an Other Depositor, Other Servicer or Other Special Servicer, or an Affiliate of the Depositor, the Master Servicer, the
Special Servicer, a Sponsor, a Mortgage Loan Seller, the Controlling Class Representative, the Directing Holder or an Other Depositor,
Other Servicer or Other Special Servicer, and (iv) that has not been paid by any Special Servicer or successor Special Servicer
any fees, compensation or other remuneration (x) in respect of its obligations under this Agreement or (y) for the appointment
or recommendation for replacement of a successor Special Servicer to become the Special Servicer.

 

“Environmental
Insurance Policy”: With respect to any Mortgaged Property or Serviced REO Property, any insurance policy covering pollution
conditions and/or other environmental conditions that is maintained from time to time in respect of such Mortgaged Property or
Serviced REO Property, as the case may be, for the benefit of, among others, the Trustee on behalf of the Certificateholders.

 

“Environmental
Report”: The environmental audit report or reports with respect to each Mortgaged Property delivered to the Mortgage
Loan Sellers in connection with the related Mortgage Loan.

 

“ERISA”:
The Employee Retirement Income Security Act of 1974, as it may be amended from time to time.

 

“Escrow Account”:
As defined in Section 3.04(b) of this Agreement. Any Escrow Account may be a sub-account of the related Cash Collateral Account.

 

“Escrow Payment”:
Any payment made by any Borrower to the Master Servicer pursuant to the related Mortgage, Cash Collateral Account Agreement, Lock-Box
Agreement, Loan Agreement or other Loan Document for the account of such Borrower for application toward the payment of taxes,
insurance premiums, assessments, environmental remediation and similar items in respect of the related Mortgaged Property or related
to the satisfaction of closing conditions for the related Mortgage Loan or Serviced Loan Combination.

 

    	-38-

    	 

    

 

“Euroclear”:
Euroclear Bank, as operator of the Euroclear System and its successors in interest.

 

“Excess Interest”:
With respect to each of the Mortgage Loans indicated on the Mortgage Loan Schedule as having a Revised Rate, interest accrued on
and allocable to such Mortgage Loan after the Anticipated Repayment Date allocable to the Excess Rate, including all interest accrued
thereon. The Excess Interest, if any, shall not be an asset of either Trust REMIC formed hereunder, but rather shall be an asset
of the Grantor Trust. Because there are no ARD Loans related to the Trust, there will be no Excess Interest distributable to the
Class V Certificates.

 

“Excess Liquidation
Proceeds”: With respect to any Mortgage Loan (and with respect to any Non-Serviced Mortgage Loan only the pro rata share
of such proceeds allocated to the Trust pursuant to the terms of the related Intercreditor Agreement) or Serviced Companion Loan,
the excess of (i) Net Liquidation Proceeds of such Mortgage Loan, Serviced Companion Loan or related Serviced REO Property,
over (ii) the amount that would have been received if a principal payment and all other amounts due in full had been made
with respect to such Mortgage Loan or Serviced Companion Loan on the Due Date immediately following the date on which such proceeds
were received.

 

“Excess Liquidation
Proceeds Account”: The segregated non-interest bearing trust account or sub-account created and maintained by the Certificate
Administrator pursuant to Section 3.05(i) of this Agreement in trust for the Certificateholders and, in the case of a Serviced
Companion Loan, the Serviced Companion Loan Noteholders, which shall be entitled “Wells Fargo Bank, National Association,
as Certificate Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, for the benefit of the Holders
of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates and, if applicable, Serviced Companion Loan Noteholders,
Excess Liquidation Proceeds Account.” The Excess Liquidation Proceeds Account must be an Eligible Account or a sub-account
of an Eligible Account and will be an asset of the Lower-Tier REMIC.

 

“Excess Prepayment
Interest Shortfall”: With respect to the Mortgage Loans in the Mortgage Pool, the aggregate Prepayment Interest Shortfalls
with respect to the Mortgage Pool in excess of the sum of (A) the Master Servicer Prepayment Interest Shortfall Amount with respect
to the Mortgage Loans serviced hereunder and (B) with respect to any Non-Serviced Mortgage Loan, any analogous amount remitted
to the Trust by the related Other Servicer pursuant to the Other Pooling and Servicing Agreement.

 

“Excess Rate”:
With respect to each of the Mortgage Loans indicated on the Mortgage Loan Schedule as having a Revised Rate, the excess of (i) the
applicable Revised Rate over (ii) the applicable Mortgage Rate, each as set forth in the Mortgage Loan Schedule.

 

“Excess Servicing
Fees”: With respect to each Mortgage Loan and any Serviced Companion Loan (and any successor REO Loan with respect thereto),
that portion of the Servicing Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.

 

“Excess Servicing
Fee Rate”: With respect to each Mortgage Loan and any Serviced Pari Passu Companion Loan (and any successor REO
Loan with respect thereto), a

 

    	-39-

    	 

    

 

rate per annum equal to the Servicing Fee Rate (subject to the rights of the Mortgage Loan Seller
Sub-Servicers identified on Exhibit T to this Agreement) minus 0.0025%; provided that such rate shall be subject to reduction
pursuant to Section 7.02 of this Agreement.

 

“Excess Servicing
Fee Right”: With respect to each Mortgage Loan and any Serviced Pari Passu Companion Loan (and any successor REO Loan
with respect thereto), the right to receive Excess Servicing Fees. In the absence of any transfer of the Excess Servicing Fee Right,
the Master Servicer shall be the owner of such Excess Servicing Fee Right.

 

“Exchange Act”:
The Securities Exchange Act of 1934, as amended and the rules and regulations thereunder.

 

“Excluded Controlling
Class Holder”: With respect to any Excluded Controlling Class Mortgage Loan, the Controlling Class Representative or
any Controlling Class Certificateholder, as applicable, that is a Borrower Party with respect to such Excluded Controlling Class
Mortgage Loan. Immediately upon obtaining actual knowledge of any such party becoming an “Excluded Controlling Class Holder”,
such Person shall provide notice in the form of Exhibit L-1E hereto to the Master Servicer, the Special Servicer, the Operating
Advisor, the Trustee and the Certificate Administrator, which such notice shall be physically delivered in accordance with Section
11.05 of this Agreement and shall specifically identify the Excluded Controlling Class Holder and the subject Excluded Controlling
Class Mortgage Loan. Additionally, any Excluded Controlling Class Holder shall also send to the Certificate Administrator a notice
substantially in the form of Exhibit L-1F hereto, which such notice shall provide each of the CTSLink User ID’s associated
with such Excluded Controlling Class Holder, and which such notice shall direct the Certificate Administrator to restrict such
Excluded Controlling Class Holder’s access to the Certificate Administrator’s Website as provided in this Agreement.

 

“Excluded Controlling
Class Mortgage Loan”: Any Mortgage Loan or Loan Combination with respect to which, as of any date of determination, the
Controlling Class Representative or any Controlling Class Certificateholder is a Borrower Party. As of the Closing Date, there
are no Excluded Controlling Class Mortgage Loans related to the Trust.

 

“Excluded Information”:
With respect to any Excluded Controlling Class Mortgage Loan, any information and reports solely relating to such Excluded Controlling
Class Mortgage Loan(s) and/or the related Mortgaged Properties, including, without limitation, any Asset Status Reports, Final
Asset Status Reports or summaries thereof, or any appraisals, inspection reports (related to Specially Serviced Loans conducted
by the Special Servicer or the Excluded Special Servicer), recoverability officer’s certificates, the Operating Advisor Annual
Reports, any determination of the Special Servicer’s net present value calculation, any appraisal reduction amount calculations,
environmental assessments, seismic reports and property condition reports and such other information and reports designated as
Excluded Information (other than such information with respect to such Excluded Controlling Class Mortgage Loan(s) that is aggregated
with information of other Mortgage Loans at a pool level) by the Master Servicer, the Special Servicer and the Operating Advisor,
as the case may be. For the avoidance of doubt, any file or report contained in the CREFC® Investor Reporting Package
(CREFC® IRP) (other than the CREFC® Special Servicer Loan File relating

 

    	-40-

    	 

    

 

to any Excluded Controlling
Class Mortgage Loan) shall not be considered “Excluded Information”. Each of the Master Servicer, the Special Servicer
and the Operating Advisor shall deliver any Excluded Information to the Certificate Administrator in accordance with Section
3.32 hereof. For the avoidance of doubt, the Certificate Administrator’s obligation to segregate any information delivered
to it under the “Excluded Information” tab on the Certificate Administrator’s Website shall be triggered solely
by such information being delivered in the manner provided in Section 3.32 hereof.

 

“Excluded Mortgage
Loan”: Any Mortgage Loan or Loan Combination with respect to which, as of any date of determination, the Controlling
Class Representative or any Majority Controlling Class Certificateholder is a Borrower Party. As of the Closing Date, there are
no Excluded Mortgage Loans related to the Trust.

 

“Excluded Special
Servicer”: With respect any Excluded Special Servicer Mortgage Loan, a special servicer that obtains knowledge that it
is not a Borrower Party and satisfies all of the eligibility requirements applicable to the special servicer set forth in this
Agreement.

 

“Excluded Special
Servicer Mortgage Loan”: Any Mortgage Loan or Loan Combination with respect to which, as of any date of determination,
the Special Servicer has knowledge that it is a Borrower Party.

 

“FATCA”:
Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any agreement entered
into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any
intergovernmental agreement entered into in connection with the implementation of such Sections of the Code.

 

“FDIC”:
The Federal Deposit Insurance Corporation or any successor thereto.

 

“FHLMC”:
The Federal Home Loan Mortgage Corporation, or any successor thereto.

 

“Final Asset
Status Report”: With respect to any Specially Serviced Loan, each related Asset Status Report, together with such other
data or supporting information provided by the Special Servicer to the Directing Holder, which shall not include any communication
(other than the related Asset Status Report) between the Special Servicer and the Directing Holder with respect to such Specially
Serviced Loan; provided that no Asset Status Report shall be considered to be a Final Asset Status Report unless, if no
Control Termination Event has occurred and is continuing, the Directing Holder has either finally approved of and consented to
the actions proposed to be taken in connection therewith, or has exhausted all of its rights of approval and consent pursuant to
this Agreement in respect of such action, or has been deemed to have approved or consented to such action or the Asset Status Report
is otherwise implemented by the Special Servicer in accordance with this Agreement.

 

“Final Recovery
Determination”: With respect to any Specially Serviced Loan, Serviced REO Loan or any Mortgage Loan subject to repurchase
by the related Mortgage Loan Seller pursuant to Section 2.03(e) of this Agreement, or in the case of a Loan

 

    	-41-

    	 

    

 

Combination, subject
to a purchase pursuant to the applicable Intercreditor Agreement, or any Mortgage Loan or Loan Combination subject to purchase
pursuant to any related mezzanine intercreditor agreement, the recovery of all Insurance Proceeds, Liquidation Proceeds, the related
Repurchase Price and other payments or recoveries (including proceeds of the final sale of any Serviced REO Property) which the
Master Servicer (or in the case of a Specially Serviced Loan or Serviced REO Loan, the Special Servicer), in its reasonable judgment,
and, if no Consultation Termination Event has occurred and is continuing, in consultation with the Directing Holder, as evidenced
by a certificate of a Servicing Officer delivered to the Trustee, the Certificate Administrator, the Operating Advisor and the
Custodian (and the Master Servicer, if the certificate is from the Special Servicer), expects to be finally recoverable. If no
Control Termination Event has occurred and is continuing, the Directing Holder shall have ten (10) Business Days to review and
approve each such recovery determination; provided that if the Directing Holder fails to approve or disapprove any recovery
determination within ten (10) Business Days of receipt of the initial recovery determination, such consent shall be deemed given.
The Master Servicer shall maintain records, prepared by a Servicing Officer, of each Final Recovery Determination until the earlier
of (i) its termination as the Master Servicer hereunder and the transfer of such records to a successor servicer and (ii) five
years following the termination of the Trust Fund.

 

“Financial Market
Publisher”: Blackrock Financial Management, Inc., Bloomberg Financial Markets, L.P., Interactive Data Corporation, Intex
Solutions, Inc., Markit LLC, Thomson Reuters Corporation and Trepp, LLC, or any successor entities thereof.

 

“Fitch”:
Fitch Ratings, Inc. or its successor in interest. If neither such rating agency nor any successor remains in existence, “Fitch”
shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person reasonably designated
by the Depositor, notice of which designation shall be given to the other parties hereto, and specific ratings of Fitch herein
referenced shall be deemed to refer to the equivalent ratings of the party so designated.

 

“FNMA”:
The Federal National Mortgage Association or any successor thereto.

 

“Form 8-K”:
A current report on Form 8-K under the Exchange Act or such successor form as the Commission may specify from time to time.

 

“Form 8-K Disclosure
Information”: As defined in Section 10.09 of this Agreement.

 

“Franchise Mortgage
Loans”: Each Mortgage Loan (other than Non-Serviced Mortgage Loans) secured by the Mortgaged Properties identified as
Loan Nos. 13 (JDSK Portfolio – AHIP), 15 (Hampton Inn & Suites Alexandria), 20 (Hilton Garden Inn El Paso) and 31 (Homewood
Suites by Hilton Scottsdale), which are each subject to a franchise agreement.

 

“GACC”:
German American Capital Corporation, in its capacity as a Mortgage Loan Seller, and its successors in interest.

 

    	-42-

    	 

    

“GACC Indemnification Agreement”: The Indemnification Agreement, dated the Pricing Date,
between GACC, the Depositor, the Underwriters and the Initial Purchasers.

“GACC Mortgage
Loans”: Each Mortgage Loan transferred and assigned to the Depositor pursuant to the GACC Purchase Agreement.

“GACC Purchase
Agreement”: The Mortgage Loan Purchase Agreement, dated the Pricing Date, between GACC and the Depositor.

“General
Special Servicer”: As defined in Section 3.22(h) of this Agreement.

“Global Certificates”:
Each of the Publicly Offered Global Certificates, Regulation S Global Certificates or Rule 144A Global Certificates if
and so long as such class of Certificates is registered in the name of a nominee of the Depository.

“Grantor
Trust”: A segregated asset pool within the Trust Fund, which at all times shall be treated as a “grantor trust”
under the Grantor Trust Provisions, consisting of the Excess Interest and the Class V Distribution Account, beneficial ownership
of which is represented by the Class V Certificates, as further described in this Agreement.

“Grantor
Trust Provisions”: Subpart E of part I of subchapter J of the Code and Treasury Regulations Section 301.7701-4(c).

“Hazardous
Materials”: Any dangerous, toxic or hazardous pollutants, chemicals, wastes, or substances, including, without limitation,
those so identified pursuant to the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. Section 9601
et seq., or any other environmental laws now existing, and specifically including, without limitation, asbestos and
asbestos-containing materials, polychlorinated biphenyls (“PCBs”), radon gas, petroleum and petroleum products,
urea formaldehyde and any substances classified as being “in inventory,” “usable work in process” or similar
classification which would, if classified as unusable, be included in the foregoing definition.

“Heartland
Industrial Portfolio Companion Loans”: As defined in the Preliminary Statement.

“Heartland
Industrial Portfolio Loan Combination”: The Heartland Industrial Portfolio Companion Loans, together with the Heartland
Industrial Portfolio Mortgage Loan. References herein to the Heartland Industrial Portfolio Loan Combination shall be construed
to refer to the aggregate indebtedness under the Heartland Industrial Portfolio Pari Passu Note A-1, the Heartland Industrial Portfolio
Pari Passu Note A-2 and the Heartland Industrial Portfolio Pari Passu Note A-3.

“Heartland
Industrial Portfolio Mortgage Loan”: As defined in the Preliminary Statement.

“Heartland
Industrial Portfolio Pari Passu Note A-1”: The promissory note designated as Note A-1, which evidences a portion
of the Heartland Industrial Portfolio Loan

    	-43-

    	 

    

Combination. The Heartland Industrial Portfolio Pari Passu Note A-1 is not included
in the Trust Fund and is pari passu in right of payment to the Heartland Industrial Portfolio Pari Passu Note A-2 and
the Heartland Industrial Portfolio Pari Passu Note A-3, as set forth in the related Intercreditor Agreement. The Heartland Industrial
Portfolio Pari Passu Note A-1 is included in the COMM 2015-CCRE25 Mortgage Trust.

“Heartland
Industrial Portfolio Pari Passu Note A-2”: The promissory note designated as Note A-2, which evidences a portion
of the Heartland Industrial Portfolio Loan Combination. The Heartland Industrial Portfolio Pari Passu Note A-2 is not included
in the Trust Fund and is pari passu in right of payment to the Heartland Industrial Portfolio Pari Passu Note A-1 and the
Heartland Industrial Portfolio Pari Passu Note A-3, as set forth in the related Intercreditor Agreement. The Heartland Industrial
Portfolio Pari Passu Note A-2 is included in the COMM 2015-CCRE24 Mortgage Trust.

“Heartland
Industrial Portfolio Pari Passu Note A-3”: The promissory note designated as Note A-3, which evidences a portion
of the Heartland Industrial Portfolio Loan Combination. The Heartland Industrial Portfolio Pari Passu Note A-3 is included in the
Trust Fund and is pari passu in right of payment to the Heartland Industrial Portfolio Pari Passu Note A-1 and the Heartland
Industrial Portfolio Pari Passu Note A-2, as set forth in the related Intercreditor Agreement. The Heartland Industrial Portfolio
Pari Passu Note A-3 is also the Heartland Industrial Portfolio Mortgage Loan.

“Heartland
Industrial Portfolio Service Providers”: With respect to the Heartland Industrial Portfolio Loan Combination, the related
Other Trustee, Other Servicer, Other Special Servicer and any related sub-servicer, as applicable, and any other Person that makes
principal and/or interest advances in respect of the Heartland Industrial Portfolio Companion Loans or property advances in respect
of the Heartland Industrial Portfolio Loan Combination pursuant to the related Other Pooling and Servicing Agreement.

“Holder”:
With respect to any Certificate, a Certificateholder; with respect to any Lower-Tier Regular Interest, the Trustee.

“Indemnification
Agreements”: Each of the GACC Indemnification Agreement, the CCRE Indemnification Agreement and the Jefferies Indemnification
Agreement.

“Indemnified
Party”: As defined in Section 8.05(d), Section 8.05(g) or Section 8.05(h), as applicable, of this Agreement,
as the context requires.

“Indemnifying
Party”: As defined in Section 8.05(d), Section 8.05(g) or Section 8.05(h), as applicable, of this Agreement,
as the context requires.

“Independent”:
When used with respect to any specified Person, any such Person who (i) does not have any direct financial interest, or any
material indirect financial interest, in any of the Depositor, the Trustee, the Certificate Administrator, the Master Servicer,
the Special Servicer, any Directing Holder, the Controlling Class Representative, the Operating Advisor, any Borrower or Manager
or any Affiliate thereof, and (ii) is not connected with any such Person thereof as an officer, employee, promoter, underwriter,
trustee, partner, director or Person performing similar functions.

    	-44-

    	 

    

“Independent
Contractor”: Either (i) any Person that would be an “independent contractor” with respect to the applicable
Trust REMIC within the meaning of Section 856(d)(3) of the Code if such Trust REMIC were a real estate investment trust (except
that the ownership tests set forth in that section shall be considered to be met by any Person that owns, directly or indirectly,
35% or more of any Class or 35% or more of the aggregate value of all Classes of Certificates), provided that such Trust
REMIC does not receive or derive any income from such Person and the relationship between such Person and such Trust REMIC is at
arm’s length, all within the meaning of Treasury Regulations Section 1.856-4(b)(5) (except neither the Master Servicer
nor the Special Servicer shall be considered to be an Independent Contractor under the definition in this clause (i) unless
an Opinion of Counsel (at the expense of the party seeking to be deemed an Independent Contractor) addressed to the Master Servicer
or the Special Servicer, as applicable, the Certificate Administrator and the Trustee has been delivered to the Certificate Administrator
to that effect) or (ii) any other Person (including the Master Servicer and the Special Servicer) if the Master Servicer or
the Special Servicer, as applicable, on behalf of itself, the Certificate Administrator and the Trustee has received an Opinion
of Counsel (at the expense of the party seeking to be deemed an Independent Contractor) to the effect that the taking of any action
in respect of any Serviced REO Property by such Person, subject to any conditions therein specified, that is otherwise herein contemplated
to be taken by an Independent Contractor will not cause such Serviced REO Property to cease to qualify as “foreclosure property”
within the meaning of Section 860G(a)(8) of the Code (determined without regard to the exception applicable for purposes of
Section 860D(a) of the Code) or cause any income realized in respect of such Serviced REO Property to fail to qualify
as Rents from Real Property (provided that such income would otherwise so qualify).

“Individual
Certificate”: Any Certificate in definitive, fully registered physical form without interest coupons.

“Initial
Purchasers”: Deutsche Bank Securities Inc., Cantor Fitzgerald & Co. and Wells Fargo Securities, LLC and their respective
successors in interest.

“Initial
Rate”: The stated Mortgage Rate with respect to an ARD Loan as of the Cut-off Date.

“Initial
Resolution Period”: As defined in Section 2.03(e) of this Agreement.

“Inquiries”:
As defined in Section 4.02(c) of this Agreement.

“Institutional
Accredited Investor”: An institution that is an “accredited investor” within the meaning of Rule 501(a)(l),
(2), (3) or (7) under the Act or any entity in which all of the equity owners come within such paragraphs.

“Insurance
Proceeds”: Proceeds of any fire and hazard insurance policy, title policy or other insurance policy relating to a Mortgage
Loan or Serviced Loan Combination (including any amounts paid by the Master Servicer pursuant to Section 3.08 of this Agreement).

    	-45-

    	 

    

“Intercreditor
Agreement”: With respect to any Loan Combination, the related intercreditor, co-lender or similar agreement in effect
from time to time by and between (a) the holder of the related Mortgage Loan(s) and the holder of the related Subordinate Companion
Loan(s) relating to the relative rights of such holders or (b) the holders of the related Mortgage Loan and the related Serviced
Pari Passu Companion Loan or Non-Serviced Pari Passu Companion Loan(s) relating to the relative rights of such holders. The intercreditor
or co-lender agreement related to each of the Prudential Plaza Loan Combination, the 11 Madison Avenue Loan Combination and the
Heartland Industrial Portfolio Loan Combination shall each be an Intercreditor Agreement.

“Interest
Accrual Amount”: With respect to any Distribution Date and any Class of Regular Certificates, an amount equal to interest
for the related Interest Accrual Period accrued at the Pass-Through Rate for such Class on the related Certificate Balance or Notional
Balance, as applicable, outstanding immediately prior to such Distribution Date minus the amount of any Excess Prepayment Interest
Shortfall allocated to such Class of Certificates with respect to such Distribution Date. Calculations of interest due in respect
of such Classes of Regular Certificates shall be made on the basis of a 360-day year consisting of twelve 30-day months.

“Interest
Accrual Period”: With respect to each Class of Regular Certificates and any Distribution Date, the calendar month immediately
preceding the month in which such Distribution Date occurs.

“Interest
Reserve Account”: The segregated non-interest bearing trust account or sub-account created and maintained by the Certificate
Administrator pursuant to Section 3.05(e) of this Agreement, which shall be entitled “Wells Fargo Bank, National Association,
as Certificate Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, for the benefit of the Holders
of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Interest Reserve Account” and which must
be an Eligible Account or a sub-account of an Eligible Account. The Interest Reserve Account shall be an asset of the Lower-Tier
REMIC.

“Interested
Person”: As of any date of determination, the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Operating Advisor, any Directing Holder, any Certificateholder, any holder of a Companion Loan (solely in connection with the
related Serviced Loan Combination), any Borrower Affiliate, any Independent Contractor engaged by the Special Servicer pursuant
to Section 3.15 of this Agreement, or any Person known to a Servicing Officer of the Special Servicer to be an Affiliate of
any of them.

“Inquiries”:
As defined in Section 4.02(c) of this Agreement.

“Investment
Account”: As defined in Section 3.07(a) of this Agreement.

“Investment
Representation Letter”: As defined in Section 5.02(c)(i)(A) of this Agreement.

    	-46-

    	 

    

“Investor-Based
Exemption”: Any of PTCE 84-14 (for transactions by independent “qualified professional asset managers”),
PTCE 91-38 (for transactions by bank collective investment funds), PTCE 90-1 (for transactions by insurance company pooled separate
accounts), PTCE 95-60 (for transactions by insurance company general accounts) or PTCE 96-23 (for transactions effected by “in-house
asset managers”) or a similar exemption under Similar Law.

“Investor
Certification”: A certificate (which may be in electronic form) substantially in the form of Exhibit L-1A,
Exhibit L-1B, Exhibit L-1C and Exhibit L-1D to this Agreement or in the form of an electronic certification
contained on the Certificate Administrator’s Website (which may be a click-through confirmation). The Certificate Administrator
may require that Investor Certifications are resubmitted from time to time in accordance with its policies and procedures.

“Investor
Q&A Forum”: As defined in Section 4.02(c) of this Agreement.

“Investor
Registry”: As defined in Section 4.02(d) of this Agreement.

“IO Group
YM Distribution Amount”: As defined in Section 4.01(c) of this Agreement.

“IRS”:
The Internal Revenue Service.

“Jefferies”:
Jefferies LoanCore LLC, in its capacity as a Mortgage Loan Seller, and its successors in interest.

“Jefferies
Indemnification Agreement”: The agreement dated the Pricing Date, between the Depositor, Jefferies, the Underwriters
and the Initial Purchasers.

“Jefferies
Mortgage Loans”: Each Mortgage Loan transferred and assigned to the Depositor pursuant to the Jefferies Purchase Agreement.

“Jefferies
Purchase Agreement”: The Mortgage Loan Purchase Agreement dated and effective the Pricing Date, between Jefferies and
the Depositor.

“Joint Mortgage
Loan”: A Mortgage Loan originated by more than one Mortgage Loan Seller. There are no Joint Mortgage Loans related to
the Trust.

“KBRA”:
Kroll Bond Rating Agency, Inc., or its successor in interest. If neither such rating agency nor any successor remains in existence,
“KBRA” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable Person
reasonably designated by the Depositor, notice of which designation shall be given to the other parties hereto, and specific ratings
of KBRA herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.

“Late Collections”:
With respect to any Mortgage Loan or Serviced Loan Combination, all amounts received thereon during any Collection Period (or the
related grace

    	-47-

    	 

    

period), whether as payments, Insurance Proceeds, Condemnation Proceeds, Liquidation Proceeds or otherwise, which
represent late payments or collections of principal or interest due in respect of such Mortgage Loan or Serviced Loan Combination
(without regard to any acceleration of amounts due thereunder by reason of default) on a Due Date in a previous Collection Period
and not previously recovered. With respect to any REO Loan, all amounts received in connection with the related REO Property during
any Collection Period (including any grace period applicable under the original Mortgage Loan or Serviced Loan Combination), whether
as Insurance Proceeds, Condemnation Proceeds, Liquidation Proceeds, REO Proceeds or otherwise, which represent late collections
of principal or interest due or deemed due in respect of such REO Loan or the predecessor Mortgage Loan or Serviced Loan Combination
(without regard to any acceleration of amounts due under the predecessor Mortgage Loan or Serviced Loan Combination by reason of
default) on a Due Date in a previous Collection Period and not previously recovered. The term “Late Collections” shall
specifically exclude Penalty Charges.

“Lender Register”:
As defined in Section 3.34 of this Agreement.

“Liquidation
Expenses”: All customary, reasonable and necessary “out of pocket” costs and expenses incurred by the Master
Servicer, the Special Servicer, the Certificate Administrator and the Trustee in connection with the liquidation of any Mortgage
Loan or Serviced Loan Combination or the liquidation of a Serviced REO Property or the sale of any Mortgage Loan or Serviced Loan
Combination pursuant to Section 3.16 or Section 9.01 of this Agreement (including, without limitation, legal fees and
expenses, committee or referee fees, and, if applicable, brokerage commissions, and conveyance taxes).

“Liquidation
Fee”: A fee payable to the Special Servicer (i) with respect to each Specially Serviced Loan or Serviced REO Loan, (ii)
with respect to each Mortgage Loan repurchased by a Mortgage Loan Seller (except as specified in the following paragraph) or (iii)
with respect to each Defaulted Mortgage Loan that is a Non-Serviced Mortgage Loan sold by the Special Servicer in accordance with
the second proviso in Section 3.16(b) of this Agreement; provided, however, for clarification, should such Non-Serviced
Mortgage Loan be sold by the Other Special Servicer, then the Liquidation Fee shall be paid to such Other Special Servicer, in
each case as to which the Special Servicer obtains a full, partial or discounted payoff from the related Borrower, a loan purchaser
or Mortgage Loan Seller, as applicable, or any Liquidation Proceeds with respect thereto (in any case, other than amounts for which
a Workout Fee has been paid, or will be payable), equal to:

(a)          the
lesser of:

(i)          the
product of 1.0% and the proceeds of such full, partial or discounted payoff or the Net Liquidation Proceeds related to such liquidated
or repurchased Mortgage Loan or Specially Serviced Loan, as the case may be, in each case exclusive of any portion of such payoff
or Net Liquidation Proceeds that represents Penalty Charges;

(ii)         $1,000,000;
and

(iii)        any
applicable cap pursuant to Section 3.12(c) of this Agreement;

 

    	-48-

    	 

    

(b)          with
respect to any particular liquidation (or partial liquidation), as reduced by the amount of any and all related Offsetting Modification
Fees received by the Special Servicer as additional servicing compensation relating to such Specially Serviced Loan, Serviced REO
Loan, Mortgage Loan or Serviced Loan Combination;

provided that
if a Mortgage Loan or Serviced Loan Combination becomes a Specially Serviced Loan only because of an event described in clause (a) of
the definition of “Specially Serviced Loan” and the related Liquidation Proceeds are received within 3 months following
the related maturity date as a result of the related Mortgage Loan being refinanced or otherwise repaid in full, the Special Servicer
shall not be entitled to collect a Liquidation Fee out of the proceeds received in connection with such liquidation if such fee
would reduce the amount available for distributions to Certificateholders, but the Special Servicer may collect from the related
Borrower and retain (x) a liquidation fee, (y) such other fees as are provided for in the related Loan Documents and
(z) other appropriate fees in connection with such liquidation.

No Liquidation Fee
shall be payable:

(a)          with
respect to clause (v) of the definition of Liquidation Proceeds;

(b)          with
respect to any existing mezzanine indebtedness or any mezzanine indebtedness that may exist on a future date, in connection with
the purchase of the related Mortgage Loan by a mezzanine lender if the purchase of the Mortgage Loan occurred within 90 days after
the first time that such holder’s option to purchase such Mortgage Loan becomes exercisable; provided that even if
the purchase occurs before such expiration the Liquidation Fee shall be payable to the extent paid by, and collected from, the
related Borrower or the related mezzanine lender;

(c)          in
the case of a repurchase or replacement of a Mortgage Loan (other than an REO Loan) by the applicable Mortgage Loan Seller pursuant
to the related Mortgage Loan Purchase Agreement, if the applicable Mortgage Loan Seller repurchases or replaces such Mortgage Loan
within the Initial Resolution Period (and giving effect to any applicable Resolution Extension Period);

(d)          with
respect to any Serviced Companion Loan that is the subject of an Other Securitization, to the Special Servicer under this Agreement
in connection with (A) a repurchase or replacement of such Serviced Companion Loan by the applicable Mortgage Loan Seller due to
a breach of a representation or warranty or a document defect under the Other Pooling and Servicing Agreement prior to the expiration
of the cure period (including any applicable extension thereof) set forth therein, (B) a purchase of the Serviced Companion Loan
pursuant to a clean-up call or similar liquidation under the related Other Pooling and Servicing Agreement, or (C) the purchase
of the related Mortgage Loan by a related Serviced Companion Loan noteholder, or the applicable designee, as applicable, pursuant
to the related intercreditor or co-lending agreement prior to the expiration of the first purchase option to occur as set forth
in the related agreement (up to 90 days), or if such Intercreditor Agreement does not specify a time period, within 90 days after
the date the purchase option first becomes exercisable, provided, however, that even if the purchase occurs before such expiration
the

    	-49-

    	 

    

Liquidation Fee will be payable to the extent paid by, and collected from, the related Borrower ;

(e)          in
connection with the purchase of any Defaulted Mortgage Loan by the Special Servicer or any Affiliate thereof or the Directing Holder
or any Companion Loan holder if such purchase occurred within 90 days after the transfer of the Defaulted Mortgage Loan to
special servicing;

(f)          in
connection with a Loss of Value Payment by a Mortgage Loan Seller, if the applicable Mortgage Loan Seller makes such Loss of Value
Payment within the Initial Resolution Period (and giving effect to any applicable extension period beyond the end of the Initial
Resolution Period set forth in Section 2.03(e) of this Agreement); and

(g)          if
a Mortgage Loan or Serviced Loan Combination becomes a Specially Serviced Loan only because of an event described in clause (a)
of the definition of “Specially Serviced Loan” and the related Liquidation Proceeds are received within three (3) months
following the related maturity date as a result of the related Mortgage Loan or Serviced Loan Combination being refinanced or otherwise
repaid in full (provided that the Special Servicer may collect from the related borrower and retain (x) a liquidation fee, (y)
such other fees as are provided for in the related Loan Documents and (z) other appropriate fees in connection with such liquidation).

“Liquidation
Proceeds”: Cash amounts (other than Insurance Proceeds and Condemnation Proceeds and REO Proceeds) received by or paid
to the Master Servicer or the Special Servicer in connection with: (i) the liquidation of a Mortgaged Property or other collateral
constituting security for a Defaulted Mortgage Loan, through trustee’s sale, foreclosure sale, disposition of REO Property
or otherwise, exclusive of any portion thereof required to be released to the related Borrower in accordance with applicable law
and the terms and conditions of the related Note and Mortgage; (ii) the realization upon any deficiency judgment obtained
against a Borrower; (iii) the sale of a Defaulted Mortgage Loan; (iv) the repurchase of a Mortgage Loan (or related REO
Loan) by the applicable Mortgage Loan Seller pursuant to the related Mortgage Loan Purchase Agreement; (v) the purchase of
all the Mortgage Loans and all property acquired in respect of any Mortgage Loan by the Sole Certificateholder, the Certificateholder
owning a majority of the Percentage Interests in the Controlling Class, the Special Servicer or the Master Servicer pursuant to
Section 9.01 of this Agreement; (vi) with respect to any existing mezzanine indebtedness or any mezzanine indebtedness
that may exist on a future date, the purchase of the related Mortgage Loan by a mezzanine lender; (vii) in the case of a Mortgage
Loan that is part of a Loan Combination, the purchase of such Mortgage Loan by a related Companion Loan Noteholder, or the applicable
designee, as applicable, pursuant to the related Intercreditor Agreement; or (viii) the transfer of any Loss of Value Payments
from the Loss of Value Reserve Fund to the Collection Account in accordance with Section 3.06(e) of this Agreement (provided
that, for the purpose of determining the amount of the Liquidation Fee (if any) payable to the Special Servicer in connection with
such Loss of Value Payment, the full amount of such Loss of Value Payment shall be deemed to constitute “Liquidation Proceeds”
from which the Liquidation Fee (if any) is payable as of such time such Loss of Value Payment is made by the applicable Mortgage
Loan

    	-50-

    	 

    

Seller). With respect to the Mortgaged Property or Mortgaged Properties securing any Non-Serviced Mortgage Loan or Non-Serviced
Companion Loan, only the portion of such amounts payable to the holder of the related Non-Serviced Mortgage Loan will be included
in Liquidation Proceeds.

“Loan Agreement”:
With respect to any Mortgage Loan or Serviced Loan Combination, the loan agreement, if any, between the related Originator and
the Borrower, pursuant to which such Mortgage Loan was made.

“Loan Combination”:
Each of the Prudential Plaza Loan Combination, the 11 Madison Avenue Loan Combination and the Heartland Industrial Portfolio Loan
Combination.

“Loan Documents”:
With respect to any Mortgage Loan or Serviced Loan Combination, the documents executed or delivered in connection with the origination
or any subsequent modification of such Mortgage Loan or Serviced Loan Combination or subsequently added to the related Mortgage
File.

“Loan Number”:
With respect to any Mortgage Loan, the loan number by which such Mortgage Loan was identified on the books and records of the Depositor
or any sub-servicer for the Depositor, as set forth in the Mortgage Loan Schedule.

“Loan-Specific
Directing Holder”: With respect to a Serviced Loan Combination, the “Controlling Holder”, the “Directing
Holder”, “Directing Lender” or any analogous concept set forth under the related Intercreditor Agreement.

“Lock-Box
Account”: With respect to any Mortgaged Property, if applicable, any account created pursuant to the related Loan Documents
to receive revenues therefrom. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who
is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage
Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income
or gain thereon. The Master Servicer shall be permitted to make withdrawals therefrom for deposit into the related Cash Collateral
Accounts in accordance with the terms of the related Mortgage Loan or Serviced Loan Combination.

“Lock-Box
Agreement”: With respect to any Mortgage Loan or Serviced Loan Combination, the lock-box agreement, if any, between the
related Originator and the Borrower, pursuant to which the related Lock-Box Account, if any, may have been established.

“Loss of
Value Payment”: As defined in Section 2.03(e) of this Agreement.

“Loss of
Value Reserve Fund”: The “outside reserve fund” (within the meaning of Treasury Regulations Section 1.860G-2(h))
designated as such pursuant to Section 3.05(d) of this Agreement. The Loss of Value Reserve Fund will be part of the Trust
Fund but not part of the Grantor Trust or either Trust REMIC.

“Lower-Tier
Distribution Account”: The segregated non-interest bearing trust account or sub-account created and maintained by the
Certificate Administrator pursuant to

    	-51-

    	 

    

Section 3.05(b) of this Agreement, which shall be entitled “Wells Fargo Bank,
National Association, as Certificate Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, for
the benefit of the Holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Lower-Tier Distribution
Account” and which must be an Eligible Account or a sub-account of an Eligible Account. The Lower-Tier Distribution Account
shall be an asset of the Lower-Tier REMIC.

“Lower-Tier
Distribution Amount”: As defined in Section 4.01(a).

“Lower-Tier
Principal Balance”: With respect to any Class of Lower-Tier Regular Interest, initially will equal the original principal
balance set forth in the Preliminary Statement herein, and from time to time will equal such amount reduced by the amount of distributions
of the Lower-Tier Distribution Amount allocable to principal and Realized Losses allocable thereto in all prior periods as described
in Section 4.01(e) of this Agreement, such that at all times the Lower-Tier Principal Balance of a Lower-Tier Regular Interest
shall equal the Certificate Balance of the Corresponding Certificates.

“Lower-Tier
Regular Interests”: The Class LA-1 Interest, the Class LA-2 Interest, the Class LA-3 Interest, the Class LA-SB Interest,
the Class LA-4 Interest, the Class LA-M Interest, the Class LB Interest, the Class LC Interest, the Class LD Interest, the
Class LE Interest, the Class LF Interest, the Class LG Interest and the Class LH Interest issued by the Lower-Tier REMIC and held
by the Trustee as assets of the Upper-Tier REMIC. Each Lower-Tier Regular Interest (i) is designated as a “regular interest”
in the Lower-Tier REMIC, (ii) relates to its Corresponding Certificates and Corresponding Class X Component, (iii) is
uncertificated, (iv) has an initial Lower-Tier Principal Balance as set forth in the Preliminary Statement herein, (v) has
a Pass-Through Rate equal to the Weighted Average Net Mortgage Pass-Through Rate, (vi) has a “latest possible maturity
date,” within the meaning of Treasury Regulations Section 1.860G-1(a), that is the Rated Final Distribution Date and
(vii) is entitled to the distributions in the amounts and at the times specified in Section 4.01(c) of this Agreement.

“Lower-Tier
REMIC”: A segregated asset pool within the Trust Fund consisting of the Mortgage Loans (exclusive of Excess Interest),
collections thereon, the Trust’s interest in any REO Property acquired in respect thereof, amounts related thereto held from
time to time in the Collection Account and the Lower-Tier Distribution Account, the REO Account (to the extent of the Trust Fund’s
interest therein), related amounts in the Interest Reserve Account, amounts held from time to time and the Excess Liquidation Proceeds
Account (to the extent of the Trust Fund’s interest therein) in respect thereof and all other property included in the Trust
Fund (other than the Loss-of-Value Reserve Fund) that is not in the Upper-Tier REMIC or the Grantor Trust.

“MAD 2015-11MD
Trust and Servicing Agreement”: The trust and servicing agreement, dated as of September 6, 2015, between Deutsche Mortgage
& Asset Receiving Corporation, as depositor, KeyBank, National Association, as master servicer and special servicer, Wilmington
Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate administrator, entered into
in connection with the issuance of MAD 2015-11MD Mortgage Trust Commercial Mortgage Pass-Through Certificates.

    	-52-

    	 

    

“MAI”:
Member of the Appraisal Institute.

“Major Decision”:
Any of the following:

(a)          any
proposed or actual foreclosure upon or comparable conversion (which may include acquisitions of an REO Property) of the ownership
of properties securing such of the Mortgage Loans (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combinations as come
into and continue in default;

(b)          any
modification, consent to a modification or waiver of a monetary term (other than late payment charges or Default Interest) or material
non-monetary term (including, without limitation, the timing of payments and acceptance of discounted payoffs but excluding the
timing or acceptance related to late payment charges or Default Interest) of a Mortgage Loan (other than a Non-Serviced Mortgage
Loan) or Serviced Loan Combination or any extension of the Maturity Date of any Mortgage Loan (other than a Non-Serviced Mortgage
Loan) or Serviced Loan Combination;

(c)          any
sale of a Defaulted Mortgage Loan (that is not a Non-Serviced Mortgage Loan), an REO Property (in each case, other than in connection
with the termination of the Trust Fund) or a Defaulted Mortgage Loan that is a Non-Serviced Mortgage Loan that the Special Servicer
is permitted to sell in accordance with the proviso in Section 3.16(b) of this Agreement, in each case for less than the applicable
Repurchase Price;

(d)          any
determination to bring an REO Property into compliance with applicable environmental laws or to otherwise address Hazardous Materials
located at an REO Property;

(e)          any
release of collateral or any acceptance of substitute or additional collateral for a Mortgage Loan (other than a Non-Serviced Mortgage
Loan) or Serviced Loan Combination, or any consent to either of the foregoing, other than as required pursuant to the specific
terms of the related Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination and for which there is
no material lender discretion;

(f)          any
waiver of a “due-on-sale” or “due-on-encumbrance” clause with respect to a Mortgage Loan (other than
a Non-Serviced Mortgage Loan) or Serviced Loan Combination or any consent to such waiver or consent to a transfer of the Mortgaged
Property or direct or indirect interests in the Borrower (including any interests in any applicable mezzanine borrower) or consent
to the incurrence of additional debt, other than any such transfer or incurrence of debt as may be effected without the consent
of the lender under the related loan agreement;

(g)          any
property management company changes for which the lender is required to consent or approve under the Loan Documents (with respect
to a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination (i) with a Stated Principal Balance greater
than $2,500,000) or (ii) where the successor

    	-53-

    	 

    

property manager is affiliated with the borrower) or franchise changes for which the
lender is required to consent or approve under the Loan Documents;

(h)         releases
of any escrows, reserve accounts or letters of credit held as performance escrows or reserves, other than those required pursuant
to the specific terms of the related Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination and for
which there is no material lender discretion;

(i)          any
acceptance of an assumption agreement releasing a transfer of interests in the Borrower from liability under a Mortgage Loan (other
than a Non-Serviced Mortgage Loan) or Serviced Loan Combination other than pursuant to the specific terms of such Mortgage Loan
(other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination and for which there is no lender discretion;

(j)          any
determination of an Acceptable Insurance Default;

(k)         the
determination of the Special Servicer pursuant to clause (c) or clause (g) of the definition of “Specially
Serviced Loan”;

(l)          any
acceleration of a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination following a default or an
event of default or any initiation of judicial, bankruptcy or similar proceedings under the related Loan Documents or with respect
to the related mortgagor or Mortgaged Property; and

(m)        any
modification, waiver or amendment of an intercreditor agreement, co-lender agreement, participation agreement or similar agreement
with any mezzanine lender, holder of a Companion Loan or other subordinate debt holder related to a Mortgage Loan (other than a
Non-Serviced Mortgage Loan) or Serviced Loan Combination, or an action to enforce rights with respect thereto, in each case, in
a manner that materially and adversely affects the holders of the Control Eligible Certificates.

 

For the avoidance
of doubt, the Master Servicer and the Special Servicer (each in such capacity) shall not make or be obligated to make any Major
Decisions with respect to any Non-Serviced Mortgage Loans and the Controlling Class Representative shall have no consent rights
regarding Major Decisions with respect to any Non-Serviced Mortgage Loans, Servicing Shift Mortgage Loan and Excluded Mortgage
Loans under this Agreement other than effectuating and consenting to the sale of a Defaulted Mortgage Loan that is a Non-Serviced
Mortgage Loan as set forth in clause (c) of the definition of “Major Decision” above.

With respect to
any Serviced Loan Combination, for so long as the holder of the related Serviced Companion Loan is the “Controlling Holder”,
the “Directing Holder”, “Directing Lender” or any analogous concept under the related Intercreditor Agreement,
then with respect to such Serviced Loan Combination, the term “Major Decision” shall mean “Major Decision”,
“Major Action” or any analogous concept under the related Intercreditor Agreement.

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“Majority
Controlling Class Certificateholders”: More than 50% of the Controlling Class Certificateholder(s), by Certificate Balance,
as determined by the Certificate Registrar from time to time.

“Management
Agreement”: With respect to any Mortgage Loan or Serviced Loan Combination, the Management Agreement, if any, by and
between the Manager and the related Borrower, or any successor Management Agreement between such parties.

“Manager”:
With respect to any Mortgage Loan or Serviced Loan Combination, any property manager for the related Mortgaged Properties.

“Master Servicer”:
Wells Fargo Bank, National Association, a national banking association, or its successor in interest, or any successor master servicer
appointed as provided herein.

“Master Servicer
Prepayment Interest Shortfall Amount”: As defined in Section 3.17(c) of this Agreement.

“Master Servicer
Termination Event”: As defined in Section 7.01(a) of this Agreement.

“Master Servicer’s
Website”: The internet website maintained by the Master Servicer; initially located at “www.wellsfargo.com/com/comintro”.

“Master Servicing
Fee”: With respect to each Mortgage Loan and for any Distribution Date, an amount per Interest Accrual Period equal to
the product of (i) the respective Master Servicing Fee Rate (adjusted to a monthly rate) and (ii) the Stated Principal
Balance of such Mortgage Loan as of the Due Date in the immediately preceding Collection Period (without giving effect to payments
of principal on such Mortgage Loan on such Due Date). For the avoidance of doubt, with respect to any Subordinate Companion Loan,
no Master Servicing Fee shall accrue or be payable on the principal balance thereof.

“Master Servicing
Fee Rate”: With respect to each Mortgage Loan, the rate per annum set forth on Exhibit B to this Agreement.

“Material
Breach”: As defined in Section 2.03(e) of this Agreement.

“Material
Defect”: As defined in Section 2.03(e) of this Agreement.

“Maturity
Date”: With respect to any Mortgage Loan or Serviced Companion Loan as of any date of determination, the date on which
the last payment of principal is due and payable under the related Note, after taking into account all Principal Prepayments received
prior to such date of determination, but without giving effect to (i) any acceleration of the principal of such Mortgage Loan
or Serviced Companion Loan by reason of default thereunder or (ii) any grace period permitted by the related Note.

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“Modification
Fees”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Companion Loan, any and
all fees with respect to a modification, restructure, extension, waiver or amendment that modifies, restructures, extends, amends
or waives any term of the related Loan Documents (as evidenced by a signed writing) agreed to by the Master Servicer or the Special
Servicer (other than all Assumption Fees, consent fees, assumption application fees, defeasance fees and fees similar to the foregoing).
For the avoidance of doubt, Special Servicing Fees, Workout Fees and Liquidation Fees due to the Special Servicer in connection
with a modification, restructure, extension, waiver or amendment shall not be considered Modification Fees. For each modification,
restructure, extension, waiver or amendment in connection with working out of a Specially Serviced Loan, the Modification Fees
collected from the related Borrower shall be subject to a cap of 1.0% of the outstanding principal balance of such Mortgage Loan
or Serviced Companion Loan on the closing date of the related modification, restructure, extension, waiver or amendment (prior
to giving effect to such modification, restructure, extension, waiver or amendment); provided that no aggregate cap shall
exist in connection with the amount of Modification Fees which may be collected from the related Borrower with respect to any Specially
Serviced Loan or REO Loan.

“Modified
Mortgage Loan”: Any Specially Serviced Loan which has been modified by the Special Servicer pursuant to Section 3.26
of this Agreement in a manner that:

(a)          reduces
or delays the amount or timing of any payment of principal or interest due thereon (other than, or in addition to, bringing current
Monthly Payments with respect to such Mortgage Loan or Serviced Companion Loan), including any reduction in the Monthly Payment;

(b)          except
as expressly contemplated by the related Mortgage, results in a release of the lien of the Mortgage on any material portion of
the related Mortgaged Property without a corresponding Principal Prepayment in an amount not less than the fair market value (as
is), as determined by an Appraisal delivered to the Special Servicer (at the expense of the related Borrower and upon which the
Special Servicer may conclusively rely), of the property to be released; or

(c)          in
the reasonable good faith judgment of the Special Servicer, otherwise materially impairs the value of the security for such Mortgage
Loan or the Serviced Companion Loan or reduces the likelihood of timely payment of amounts due thereon.

“Monthly
Payment”: With respect to any Mortgage Loan or Serviced Companion Loan (other than any REO Loan) and any Due Date, the
scheduled monthly payment of principal, if any, and interest at the Mortgage Rate, excluding any Balloon Payment (but not excluding
any constant Monthly Payment due on a Balloon Loan), which is payable by the related Borrower on such Due Date under the related
Note. The Monthly Payment with respect to an REO Loan is the monthly payment that would otherwise have been payable on the related
Due Date had the related Note not been discharged, determined as set forth in the preceding sentence and on the assumption that
all other amounts, if any, due thereunder are paid when due.

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“Moody’s”:
Moody’s Investors Service, Inc., or its successor in interest. If neither such rating agency nor any successor remains in
existence, “Moody’s” shall be deemed to refer to such other nationally recognized statistical rating agency or
other comparable Person reasonably designated by the Depositor, notice of which designation shall be given to the other parties
hereto, and specific ratings of Moody’s herein referenced shall be deemed to refer to the equivalent ratings of the party
so designated.

“Morningstar”:
Morningstar Credit Ratings, LLC, or any successor in interest. If neither such rating agency nor any successor remains in existence,
“Morningstar” shall be deemed to refer to such other nationally recognized statistical rating agency or other comparable
Person reasonably designated by the Depositor, notice of which designation shall be given to the other parties hereto, and specific
ratings of Morningstar herein referenced shall be deemed to refer to the equivalent ratings of the party so designated.

“Mortgage”:
The mortgage, deed of trust or other instrument creating a first lien on or first priority ownership interest in a Mortgaged Property
securing a Note.

“Mortgage
File”: With respect to any Mortgage Loan or Serviced Companion Loan, collectively, the mortgage documents listed in Section 2.01(a)(i)
through Section 2.01(a)(xx) of this Agreement pertaining to such particular Mortgage Loan or Serviced Companion Loan and any
additional documents required to be added to such Mortgage File pursuant to the express provisions of this Agreement; provided
that whenever the term “Mortgage File” is used to refer to documents actually received by the Depositor, the Trustee
or the Custodian, such term shall not be deemed to include such documents and instruments required to be included therein unless
they are actually so received.

“Mortgage
Loan”: Each of the mortgage loans transferred and assigned to the Trustee pursuant to Section 2.01 of this Agreement
and from time to time held in the Trust Fund. The Mortgage Loans originally so transferred, assigned and held are identified on
the Mortgage Loan Schedule as of the Closing Date. Such term shall include any REO Loan, Specially Serviced Loan or any Mortgage
Loan that has been defeased in whole or in part. Such term shall not include the Serviced Companion Loans or Non-Serviced Companion
Loans but shall include Non-Serviced Mortgage Loans. In addition, a Mortgage Loan that is part of a Serviced Loan Combination is
also referred to as a “Serviced Mortgage Loan”.

“Mortgage
Loan Purchase Agreements”: Each of the GACC Purchase Agreement, the CCRE Purchase Agreement and the Jefferies Purchase
Agreement.

“Mortgage
Loan Schedule”: The list of Mortgage Loans included in the Trust Fund as of the Closing Date being attached as Exhibit B
to this Agreement, which list shall set forth the following information with respect to each Mortgage Loan:

(a)          the
Loan Number;

(b)          the
Mortgage Loan name;

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(c)          the
street address (including city, state and zip code) of the related Mortgaged Property;

(d)          the
Mortgage Rate in effect as of the Cut-off Date;

(e)          the
original principal balance;

(f)          the
Stated Principal Balance as of the Cut-off Date;

(g)          the
Maturity Date or Anticipated Repayment Date for each Mortgage Loan;

(h)          the
Due Date;

(i)          the
amount of the Monthly Payment due on the first Due Date following the Cut-off Date;

(j)          the
Servicing Fee Rate;

(k)          whether
the Mortgage Loan is an Actual/360 Mortgage Loan;

(l)          whether
any letter of credit is held by the lender as a beneficiary or is assigned as security for such Mortgage Loan;

(m)          the
Revised Rate of such Mortgage Loan, if any;

(n)          whether
the Mortgage Loan is part of a Loan Combination;

(o)          whether
the Mortgage Loan is secured in any part by a leasehold interest; and

(p)          whether
the Mortgage Loan has any related mezzanine debt or other subordinate debt.

Such list may be in the form of more
than one list, collectively setting forth all of the information required. A comparable list shall be prepared with respect to
each Serviced Companion Loan.

“Mortgage
Loan Seller Sub-Servicer”: A Servicing Function Participant or Sub-Servicer required to be retained by the Master Servicer
by a Mortgage Loan Seller, as listed on Exhibit T to this Agreement, or any successor thereto.

“Mortgage
Loan Sellers”: Each of GACC, CCRE and Jefferies.

“Mortgage
Pool”: All of the Mortgage Loans and any successor REO Loans, collectively. The Mortgage Pool does not include the Companion
Loans or any related REO Loans.

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“Mortgaged
Property”: The underlying property securing a Mortgage Loan including any REO Property, consisting of a fee simple estate,
and, with respect to certain Mortgage Loans, a leasehold estate or both a leasehold estate and a fee simple estate, or a leasehold
estate in a portion of the property and a fee simple estate in the remainder, in a parcel of land improved by a commercial or multifamily
property, together with any personal property, fixtures, leases and other property or rights pertaining thereto.

“Mortgage
Rate”: With respect to each Mortgage Loan or the Serviced Companion Loan, as applicable, and any Interest Accrual Period,
the annual rate at which interest accrues on such Mortgage Loan or Serviced Companion Loan, as applicable, during such period (in
the absence of a default), as set forth in the related Note from time to time, without giving effect to any Default Rate or any
Excess Interest.

“Net Condemnation
Proceeds”: Condemnation Proceeds, to the extent such proceeds are not to be applied to the restoration, preservation
or repair of the related Mortgaged Property or released to the Borrower in accordance with the express requirements of the Loan
Documents or other documents included in the Mortgage File or in accordance with the Servicing Standard.

“Net Default
Interest”: With respect to any Distribution Date, an amount equal to the sum of (i) the amount of the aggregate
collected Default Interest allocable to the Mortgage Loans received during the preceding Collection Period, minus (ii) any
portions thereof withdrawn from (A) the Collection Account pursuant to Section 3.06(a)(ix) of this Agreement for Advance
Interest Amounts and unreimbursed Additional Trust Fund Expenses (including Special Servicing Fees, Liquidation Fees and Workout
Fees) incurred on the related Mortgage Loan during or prior to such Collection Period and (B) each Serviced Loan Combination
Collection Account pursuant to Section 3.06(b)(ix) for Advance Interest Amounts and unreimbursed Additional Trust Fund Expenses
incurred on the related Serviced Loan Combination during or prior to such Collection Period.

“Net Insurance
Proceeds”: Insurance Proceeds, to the extent such proceeds are not to be applied to the restoration of the related Mortgaged
Property or released to the Borrower in accordance with the express requirements of the Loan Documents or other documents included
in the Mortgage File or in accordance with prudent and customary servicing practices.

“Net Liquidation
Proceeds”: The Liquidation Proceeds received with respect to any Mortgage Loan or Serviced Loan Combination net of the
amount of (i) Liquidation Expenses incurred with respect thereto and (ii) with respect to proceeds received in connection
with the taking of a Mortgaged Property (or portion thereof) by the power of eminent domain in condemnation, amounts required to
be applied to the restoration or repair of the related Mortgaged Property.

“Net Mortgage
Pass-Through Rate”: With respect to any Mortgage Loan or Serviced Companion Loan and any Distribution Date, the per
annum rate equal to the Mortgage Rate for such Mortgage Loan or Serviced Companion Loan for the related Interest Accrual Period,
minus, for any such Mortgage Loan or Serviced Companion Loan, the

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aggregate of the applicable Servicing Fee Rate, Trustee/Certificate
Administrator Fee Rate, Operating Advisor Fee Rate, CREFC® License Fee Rate, the fee rate paid to the Sub-Servicer,
if any, with respect to any Non-Serviced Mortgage Loan, and the related Pari Passu Loan Primary Servicing Fee Rate. The “Net
Mortgage Pass-Through Rate” for purposes of calculating the Weighted Average Net Mortgage Pass-Through Rate shall be the
Net Mortgage Pass-Through Rate of such Mortgage Loan without taking into account any modification, waiver or amendment of the terms
of the related Mortgage Loan, whether agreed to by the Master Servicer or the Special Servicer or resulting from a bankruptcy,
insolvency or similar proceeding involving the related Borrower or otherwise. The Net Mortgage Pass-Through Rate shall not be reduced
by any Operating Advisor Fee Rate following the Operating Advisor’s resignation pursuant to Section 6.04(e) or the termination
of the Operating Advisor pursuant to Section 7.07(e).

Notwithstanding the
foregoing, if any such Mortgage Loan or Serviced Companion Loan does not accrue interest on the basis of a 360-day year consisting
of twelve 30-day months, then the Net Mortgage Pass-Through Rate of such Mortgage Loan or Serviced Companion Loan for any Interest
Accrual Period will be the annualized rate at which interest would have to accrue in respect of such Mortgage Loan or Serviced
Companion Loan on the basis of a 360-day year consisting of twelve 30-day months in order to produce the aggregate amount of interest
actually accrued in respect of such Mortgage Loan or Serviced Companion Loan at the related Net Mortgage Pass-Through Rate during
such Interest Accrual Period; provided, that with respect to each such Mortgage Loan, the Net Mortgage Pass-Through Rate
for the one-month period (i) preceding the Distribution Dates in (a) January and February in each year that is not
a leap year or (b) February only in each year that is a leap year (in either case, unless the related Distribution Date
is the final Distribution Date), shall be determined net of any Withheld Amounts from that month and (ii) preceding the Due
Date in March (or February if the related Distribution Date is the final Distribution Date) (commencing in 2016), shall
be determined inclusive of the Withheld Amounts, if applicable, from the immediately preceding February, and, if applicable, January.

“Net Prepayment
Interest Excess”: The excess amount, if any, that the aggregate of all Prepayment Interest Excess for all Mortgage Loans
(other than the Non-Serviced Mortgage Loans) or Serviced Companion Loans that the Master Servicer is servicing exceeds the aggregate
of all Master Servicer Prepayment Interest Shortfall Amounts for such Mortgage Loans (other than the Non-Serviced Mortgage Loans)
or Serviced Companion Loans as of any related Distribution Date.

“Net REO
Proceeds”: With respect to each Serviced REO Property, REO Proceeds with respect to such REO Property net of any insurance
premiums, taxes, assessments and other costs and expenses permitted to be paid therefrom pursuant to Section 3.15(b) of this
Agreement.

“New Lease”:
Any lease of a Serviced REO Property entered into on behalf of the Lower-Tier REMIC if such Trust REMIC has the right to
renegotiate the terms of such lease, including any lease renewed or extended on behalf of such Trust REMIC.

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“No Downgrade
Confirmation”: With respect to any matter, confirmation in writing (which may be in electronic form) by each applicable
Rating Agency that a proposed action, failure to act or other event so specified will not, in and of itself, result in the downgrade,
withdrawal or qualification of the then-current rating assigned to any Class of Certificates if then rated by the Rating Agency;
provided that a written waiver or other acknowledgment from any Rating Agency indicating its decision not to review the
matter for which the No Downgrade Confirmation is sought shall be deemed to satisfy the requirement for the No Downgrade Confirmation
from such Rating Agency with respect to such matter. At any time during which no Certificates are rated by a Rating Agency, no
No Downgrade Confirmation shall be required from that Rating Agency. With respect to any matter affecting any Serviced Pari Passu
Companion Loan (or successor REO Loan) as to which any Companion Loan Securities exist, any reference herein to “No Downgrade
Confirmation” shall also refer to a confirmation from the nationally recognized statistical rating organizations then rating
the securities representing an interest in such loan regarding such rating organizations’ respective ratings of such securities.

“Non-Directing
Holder”: With respect to any Companion Loan, the “Non-Directing Holder”, “Non-Controlling Note Holder”
or any analogous concept under the related Intercreditor Agreement. The Controlling Class Representative shall be a Non-Directing
Holder with respect to the 11 Madison Avenue Loan Combination and the Heartland Industrial Portfolio Loan Combination.

“Non-Reduced
Certificates”: As of any date of determination, any Class of Sequential Pay Certificates then outstanding for which (a)(1)
the initial Certificate Balance of such Class of Certificates minus (2) the sum (without duplication) of (x) the aggregate
payments of principal (whether as principal prepayments or otherwise) distributed to the Holders of such Class of Certificates
as of such date of determination, (y) any Appraisal Reduction Amounts allocated to such Class of Certificates as of such date
of determination and (z) any Realized Losses previously allocated to such Class of Certificates as of such date of determination,
is equal to or greater than (b) 25% of the remainder of (i) the initial Certificate Balance of such Class of Certificates
less (ii) any payments of principal (whether as principal prepayments or otherwise) previously distributed to the Holders
of that Class of Certificates as of such date of determination.

“Non-Serviced
Companion Loan”: With respect to any Non-Serviced Loan Combination, any related mortgage loan not included in the Trust
Fund that is serviced under another agreement and that is generally (a) payable on a pari passu basis with the related Mortgage
Loan included in the Trust to the extent set forth in the related Intercreditor Agreement or (b) subordinated in right of payment
to the related Mortgage Loan included in the Trust to the extent set forth in the related Intercreditor Agreement. The 11 Madison
Avenue Companion Loans and the Heartland Industrial Portfolio Companion Loans, are the Non-Serviced Companion Loans related to
the Trust.

“Non-Serviced
Loan Combinations”: Any mortgage loan that is not serviced under this Agreement that is divided into one or more notes,
which includes a Mortgage Loan included in the Trust but serviced under another agreement and one or more mortgage notes

    	-61-

    	 

    

not included
in the Trust and serviced under another agreement. References herein to a Non-Serviced Loan Combination shall be construed to refer
to the aggregate indebtedness under the related notes. The 11 Madison Avenue Loan Combination and the Heartland Industrial Portfolio
Loan Combination, are the Non-Serviced Loan Combinations related to the Trust.

“Non-Serviced
Mortgage Loans”: With respect to any Non-Serviced Loan Combination, a Mortgage Loan included in the Trust but serviced
under another agreement. The 11 Madison Avenue Mortgage Loan and the Heartland Industrial Portfolio Mortgage Loan, are the Non-Serviced
Mortgage Loans included in the Trust.

“Non-Serviced
Mortgage Loan Service Providers”: (a) With respect to the 11 Madison Avenue Loan Combination, the 11 Madison Avenue Service
Providers and (b) with respect to the Heartland Industrial Portfolio Loan Combination, the Heartland Industrial Portfolio Service
Providers.

“Non-Serviced
Pari Passu Companion Loans”: With respect to any Non-Serviced Loan Combination, any related mortgage note not included
in the Trust that is not serviced under this Agreement and that is generally payable on a pari passu basis with a Non-Serviced
Mortgage Loan included in the Trust to the extent set forth in the related Intercreditor Agreement. The 11 Madison Avenue Pari
Passu Companion Loans and the Heartland Industrial Portfolio Companion Loans are the Non-Serviced Pari Passu Companion Loans related
to the Trust.

“Non-Serviced
Subordinate Companion Loan”: With respect to any Non-Serviced Loan Combination, any related subordinated mortgage note
not included in the Trust that is not serviced under this Agreement and that is generally subordinated in right of payment to the
related Mortgage Loan included in the Trust to the extent set forth in the related Intercreditor Agreement. As of the Closing Date,
the 11 Madison Avenue Subordinate Companion Loans are the only Non-Serviced Subordinate Companion Loans related to the Trust.

“Non-U.S.
Person”: A person that is not a U.S. Person.

“Nonrecoverable
Advance”: Any Nonrecoverable P&I Advance, Nonrecoverable Property Advance or Nonrecoverable Workout-Delayed Reimbursement
Amounts.

“Nonrecoverable
P&I Advance”: Any P&I Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Loan
which, in the reasonable judgment of the Master Servicer, the Special Servicer, in each case in accordance with the Servicing Standard
and Sections 4.07(c) and 4.07(e), or the Trustee, as applicable, would not be ultimately recoverable, together with any accrued
and unpaid interest thereon, from late payments, Condemnation Proceeds, Insurance Proceeds, Liquidation Proceeds and other collections
on or in respect of the related Mortgage Loan or REO Loan, which shall be evidenced by an Officer’s Certificate as provided
by Section 4.07(c) of this Agreement.

“Nonrecoverable
Property Advance”: Any Property Advance previously made or proposed to be made in respect of a Mortgage Loan (other than
a Non-Serviced Mortgage

    	-62-

    	 

    

Loan) or a Serviced Loan Combination or any Serviced REO Property that, in the reasonable judgment of the
Master Servicer, the Special Servicer, in each case in accordance with the Servicing Standard and Section 3.21(d) of this
Agreement, or the Trustee, as applicable, would not be ultimately recoverable, together with any accrued and unpaid interest thereon,
from late payments, Condemnation Proceeds, Insurance Proceeds, Liquidation Proceeds and other collections on or in respect of the
related Mortgage Loan, Serviced Loan Combination or Serviced REO Loan, which shall be evidenced by an officer certificate as provided
by Section 3.21(d) of this Agreement. The determination as to the recoverability of any property advance previously made or
proposed to be made in respect of any Non-Serviced Loan Combination (or related REO Property) shall be made by the applicable servicer
under, and in accordance with the terms of, the related Other Pooling and Servicing Agreement. Any such determination made by any
such party shall be conclusive and binding on the Certificateholders and may, in all cases, be conclusively relied upon by the
Master Servicer, the Special Servicer and the Trustee, as applicable.

“Nonrecoverable
Workout-Delayed Reimbursement Amounts”: Any Workout-Delayed Reimbursement Amounts when the Person making such determination
in accordance with the procedures specified for Nonrecoverable Property Advances or Nonrecoverable P&I Advances, as applicable,
and taking into account factors such as all other outstanding Advances, either (a) has determined that such Workout-Delayed
Reimbursement Amounts, would not ultimately be recoverable from late payments or any other recovery on or in respect of the related
Mortgage Loan, Serviced Loan Combination or REO Loans or (b) has determined that such Workout-Delayed Reimbursement Amounts
would not ultimately be recoverable, along with any other Workout-Delayed Reimbursement Amounts and Nonrecoverable Advances, out
of the principal portion of future collections on all of the Mortgage Loans and REO Properties and from general principal collections
in the Collection Account.

“Note”:
With respect to any Mortgage Loan or Serviced Companion Loan as of any date of determination, the note or other evidence of indebtedness
and/or agreements evidencing the indebtedness of a Borrower under such Mortgage Loan or Serviced Companion Loan including any amendments
or modifications, or any renewal or substitution notes, as of such date.

“Notice of
Termination”: Any of the notices given to the Trustee, the Certificate Administrator and the Master Servicer by the Certificateholder
owning a majority of the Percentage Interests in the Controlling Class, the Special Servicer or the Master Servicer pursuant to
Section 9.01(c) of this Agreement.

“Notional
Amount” or “Notional Balance”: As of any date of determination: (i) with respect to each of the
Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class X-F Certificates as a Class, the related Class X
Notional Amount as of such date of determination and (ii) with respect to any Class X Certificate, the product of the
Percentage Interest evidenced by such Certificate and the related Class X Notional Amount as of such date of determination.

“NRSRO”:
Any nationally recognized statistical ratings organization.

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“NRSRO Certification”:
A certification (a) executed by a NRSRO in favor of the 17g-5 Information Provider substantially in the form attached hereto as
Exhibit V or (b) provided electronically and executed by an NRSRO by means of a “click-through” confirmation
on the 17g-5 Information Provider’s Website.

“Officer’s
Certificate”: A certificate signed by the Chairman of the Board, the Vice Chairman of the Board, the President or a Vice
President (however denominated) and by the Treasurer, the Secretary, one of the Assistant Treasurers or Assistant Secretaries,
any Trust Officer or other officer of the Master Servicer, Special Servicer, Additional Servicer or Operating Advisor customarily
performing functions similar to those performed by any of the above designated officers, any Servicing Officer and also with respect
to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity
with the particular subject, or an authorized officer of the Depositor, and delivered to the Depositor, the Trustee, the Certificate
Administrator, the Special Servicer or the Master Servicer, as the case may be.

“Offsetting
Modification Fees”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination
or Serviced REO Loan and with respect to any Workout Fee or Liquidation Fee payable by the Trust, any and all Modification Fees
collected by the Special Servicer as additional servicing compensation, but only to the extent that (1) such Modification Fees
were earned and collected by the Special Servicer (A) in connection with the workout or liquidation (including partial liquidation)
of a Specially Serviced Loan or Serviced REO Loan as to which the subject Workout Fee or Liquidation Fee became payable or (B) in
connection with any workout of a Specially Serviced Loan that closed within the prior 18 months (determined as of the closing day
of the workout or liquidation as to which the subject Workout Fee or Liquidation Fee became payable) and (2) such Modification
Fees were earned in connection with a modification, restructure, extension, waiver or amendment of such Mortgage Loan, Serviced
Loan Combination or Serviced REO Loan at a time when such Mortgage Loan, Serviced Loan Combination or Serviced REO Loan was a Specially
Serviced Loan.

“Operating
Advisor”: Park Bridge Lender Services LLC, a New York limited liability company, or its successor in interest, or any
successor Operating Advisor appointed as herein provided.

“Operating
Advisor Annual Report”: As defined in Section 3.31(d)(iv) of this Agreement.

“Operating
Advisor Consulting Fee”: A fee for each Major Decision as to which the Operating Advisor has consulting rights equal
to $10,000 with respect to any Mortgage Loan or such lesser amount as the related Borrower agrees to pay, payable pursuant to Section 3.06
of this Agreement; provided, no such fee shall be payable unless paid by the related Borrower. The Operating Advisor may
in its sole discretion reduce the Operating Advisor Consulting Fee with respect to any Major Decision. The Master Servicer or Special
Servicer, as applicable, may waive or reduce the amount of any Operating Advisor Consulting Fee payable by the related Borrower
if it determines that such full or partial waiver is in

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accordance with the Servicing Standard; provided, that the Master
Servicer or the Special Servicer, as applicable, shall consult with the Operating Advisor prior to any such waiver or reduction.
No Operating Advisor Consulting Fee shall be payable with respect to any Subordinate Companion Loan, any Non-Serviced Loan Combination,
or any Servicing Shift Loan Combination.

“Operating
Advisor Fee”: With respect to each Mortgage Loan (other than Non-Serviced Mortgage Loans and Servicing Shift Mortgage
Loans) and Serviced Loan Combination (other than Servicing Shift Loan Combinations) and any Distribution Date, an amount per Interest
Accrual Period equal to the product of (i) the applicable Operating Advisor Fee Rate and (ii) the Stated Principal Balance
of such Mortgage Loan as of the Due Date in the immediately preceding Collection Period (without giving effect to payments of principal
on such Mortgage Loan on such Due Date). Such fee shall be in addition to, and not in lieu of, any other fee or other sum
payable to the Operating Advisor under this Agreement. The Operating Advisor Fee shall be calculated in accordance with the provisions
of Section 1.02(a) of this Agreement. For the avoidance of doubt, the Operating Advisor Fee shall be payable from the Lower-Tier
REMIC. For the avoidance of doubt, no Operating Advisor Fee shall accrue on the principal balance of, or be payable with respect
to, any Subordinate Companion Loan, any Non-Serviced Loan Combination or any Servicing Shift Mortgage Loan. No Operating Advisor
Fee shall accrue following the Operating Advisor’s resignation pursuant to Section 6.04(e) or the termination of the
Operating Advisor pursuant to Section 7.07(e).

“Operating
Advisor Fee Rate”: For each Interest Accrual Period, a per annum rate equal to, with respect to (i) each Mortgage
Loan (other than the Prudential Plaza Mortgage Loan), 0.0020% per annum, and (ii) with respect to the Prudential Plaza Mortgage
Loan, 0.0037% per annum.

“Operating
Advisor Standard”: As defined in Section 3.31(b) of this Agreement.

“Operating
Advisor Termination Event”: As defined in Section 7.07(a) of this Agreement.

“Opinion
of Counsel”: A written opinion of counsel, who may, without limitation, be counsel for the Depositor, the Special Servicer
or the Master Servicer, as the case may be, acceptable to the Certificate Administrator and the Trustee, except that any opinion
of counsel relating to (a) qualification of either Trust REMIC as a REMIC or the imposition of tax under the REMIC Provisions
on any income or property of either Trust REMIC, (b) compliance with the REMIC Provisions (including application of the definition
of “Independent Contractor”), (c) qualification of the Grantor Trust as a grantor trust or (d) a resignation
of the Master Servicer or the Special Servicer pursuant to Section 6.04(b) of this Agreement, must be an opinion of counsel
who is Independent of the Depositor, the Master Servicer and the Special Servicer.

“Originator”:
Any of (i) the Mortgage Loan Sellers and (ii) with respect to any Mortgage Loan acquired by a Mortgage Loan Seller, the
originator of such Mortgage Loan.

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“Other 17g-5
Information Provider”: The applicable other “17g-5 information provider” under an Other Pooling and Servicing
Agreement relating to a Serviced Companion Loan. The Depositor shall inform the other parties hereto of the name and contact information
for any Other 17g-5 Information Provider existing as of the Closing Date. The name and contact information of any such Other 17g-5
Information Provider as of the Closing Date is set forth on Schedule VIII hereto. Each party hereto shall be entitled to conclusively
rely upon the information set forth on Schedule VIII until such party receives notice of any change thereto.

“Other Depositor”:
The applicable other “depositor” under an Other Pooling and Servicing Agreement relating to a Serviced Companion Loan
or a Non-Serviced Companion Loan, as applicable.

“Other Indemnified
Parties”: As defined in Section 1.04 of this Agreement.

“Other Operating
Advisor”: The applicable other “operating advisor” or “trust advisor” under an Other Pooling
and Servicing Agreement relating to a Serviced Companion Loan or a Non-Serviced Companion Loan, as applicable.

“Other Pooling
and Servicing Agreement”: A pooling and servicing agreement or other applicable servicing agreement relating to a Serviced
Companion Loan or a Non-Serviced Loan Combination, as applicable. As of the Closing Date, the Other Pooling and Servicing Agreements
related to the Trust are the MAD 2015-11MD Trust and Servicing Agreement (with respect to the 11 Madison Avenue Companion Loans),
the COMM 2015-CCRE24 Pooling and Servicing Agreement (with respect to the Heartland Industrial Portfolio Pari Passu Note A-2) and
the COMM 2015-CCRE25 Pooling and Servicing Agreement (with respect to the Heartland Industrial Portfolio Pari Passu Note A-1).

“Other Securitization”:
Any commercial mortgage securitization trust that holds a Serviced Companion Loan or Non-Serviced Companion Loan or any successor
REO Loan with respect thereto. As of the Closing Date, the Other Securitizations related to the Trust include the MAD 2015-11MD
Mortgage Trust (with respect to the 11 Madison Avenue Companion Loans), the COMM 2015-CCRE24 Mortgage Trust (with respect to the
Heartland Industrial Portfolio Pari Passu Note A-2) and the COMM 2015-CCRE25 Mortgage Trust (with respect to the Heartland Industrial
Portfolio Pari Passu Note A-1).

“Other Servicer”:
The applicable other “master servicer” under an Other Pooling and Servicing Agreement relating to a Serviced Companion
Loan or a Non-Serviced Companion Loan, as applicable.

“Other Special
Servicer”: The applicable other “special servicer” under an Other Pooling and Servicing Agreement relating
to a Serviced Companion Loan or a Non-Serviced Companion Loan, as applicable.

“Other Trustee”:
The applicable other “trustee” or, if applicable, the other “certificate administrator” or, if applicable,
the other “custodian” under an Other Pooling and Servicing Agreement relating to a Serviced Companion Loan or a Non-Serviced
Companion Loan, as applicable.

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“Ownership
Interest”: Any record or beneficial interest in a Class R or Class LR Certificate.

“P&I
Advance”: As to any Mortgage Loan, any advance made by the Master Servicer or the Trustee pursuant to Section 4.07
of this Agreement. Each reference to the payment or reimbursement of a P&I Advance shall be deemed to include, whether or not
specifically referred to and without duplication, payment or reimbursement of interest thereon at the Advance Rate. Neither the
Master Servicer nor the Trustee will be required to make P&I Advances with respect to any delinquent payment amounts due on
any Companion Loan.

“P&I
Advance Determination Date”: With respect to any Distribution Date, the second Business Day prior to such Distribution
Date.

“Pari Passu
Loan Primary Servicing Fee Rate”: With respect to any Non-Serviced Mortgage Loan, the “primary servicing fee rate”
(as defined or set forth in the applicable Other Pooling and Servicing Agreement) and any other applicable servicing fee rate (other
than those payable to the applicable Other Special Servicer) applicable to such Non-Serviced Mortgage Loan that constitutes a portion
of the “servicing fee rate” applicable to the Other Servicer under the applicable Other Pooling and Servicing Agreement.
The Pari Passu Loan Primary Servicing Fee Rate for (A) the 11 Madison Avenue Mortgage Loan will be 0.00125% and (B) the Heartland
Industrial Portfolio Mortgage Loan will be 0.0025%.

“Pass-Through
Rate”: With respect to each Class of Certificates set forth below, the following rates:

	
        Class
	 	
        Pass-Through Rate

	 	 	 
	Class A-1	 	Class A-1 Pass-Through Rate
	Class A-2	 	Class A-2 Pass-Through Rate
	Class A-SB	 	Class A-SB Pass-Through Rate
	Class A-3	 	Class A-3 Pass-Through Rate
	Class A-4	 	Class A-4 Pass-Through Rate
	Class A-M	 	Class A-M Pass-Through Rate
	Class X-A	 	Class X-A Pass-Through Rate
	Class X-B	 	Class X-B Pass-Through Rate
	Class X-C	 	Class X-C Pass-Through Rate
	Class X-D	 	Class X-D Pass-Through Rate
	Class X-E	 	Class X-E Pass-Through Rate
	Class X-F	 	Class X-F Pass-Through Rate
	Class B	 	Class B Pass-Through Rate
	Class C	 	Class C Pass-Through Rate
	Class D	 	Class D Pass-Through Rate
	Class E	 	Class E Pass-Through Rate
	Class F	 	Class F Pass-Through Rate
	Class G	 	Class G Pass-Through Rate
	Class H	 	Class H Pass-Through Rate

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“Paying Agent”:
The paying agent appointed pursuant to Section 5.04 of this Agreement.

“PCAOB”:
The Public Company Accounting Oversight Board.

“Penalty
Charges”: With respect to any Mortgage Loan or Serviced Companion Loan (or successor REO Loan), any amounts collected
thereon from the Borrower that represent default charges, penalty charges, late fees and/or Default Interest, and excluding any
Yield Maintenance Charge and any Excess Interest.

“Percentage
Interest”: As to any Certificate, the percentage interest evidenced thereby in distributions required to be made with
respect to the related Class. With respect to any Certificate (except the Class V, Class R and Class LR Certificates),
the percentage interest is equal to the initial denomination of such Certificate divided by the initial Certificate Balance or
Notional Balance, as applicable, of such Class of Certificates. With respect to any Class V, Class R or Class LR
Certificate, the percentage interest is set forth on the face thereof.

“Performance
Assessment Information”: As defined in Section 3.31 of this Agreement.

“Performance
Certification”: As defined in Section 10.08 of this Agreement.

“Performing
Loan”: A Mortgage Loan or Serviced Loan Combination that is not a Specially Serviced Loan or REO Loan.

“Performing
Party”: As defined in Section 10.14 of this Agreement.

“Permitted
Investments”: Any one or more of the following obligations or securities payable on demand or having a scheduled maturity
on or before the Business Day preceding the date upon which such funds are required to be drawn, regardless of whether issued by
the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee or any of their respective
Affiliates and having at all times the required ratings, if any, provided for in this definition, unless each Rating Agency shall
have provided a No Downgrade Confirmation relating to the Certificates and Serviced Companion Loan Securities:

(A)  direct
obligations of, or obligations fully guaranteed as to timely payment of principal and interest by, the United States or any agency
or instrumentality thereof, provided that each such obligation is backed by the full faith and credit of the United States and
such obligations have a remaining term to maturity of one year or less;

(B)  repurchase
agreements on obligations specified in clause (A) of this definition, with a party agreeing to repurchase such obligations (1)
in the case of such investments with maturities of 30 days or less, the short term obligations of which are rated at least in the
highest short term rating category by Moody’s and “F1” by Fitch, and the long term obligations of which are rated
at least “A2” by Moody’s and “A” by Fitch (or such lower rating as is the

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subject of a No Downgrade
Confirmation by the applicable Rating Agencies relating to the Certificates and any Serviced Companion Loan Securities), (2) in
the case of such investments with maturities of three months or less, but more than 30 days, the short term obligations of which
are rated at least in the highest short term rating category by Moody’s and “F1+” by Fitch, or the long term
obligations of which are rated at least “A2” by Moody’s and “AA-” by Fitch (or such lower rating
as is the subject of a No Downgrade Confirmation by the applicable Rating Agencies relating to the Certificates and any Serviced
Companion Loan Securities), (3) in the case of such investments with maturities of six months or less, but more than three months,
the short term obligations of which are rated at least in the highest short term rating category by Moody’s and “F1+”
by Fitch, and the long term obligations of which are rated at least “Aa3” by Moody’s and “AA-” by
Fitch (or such lower rating as is the subject of a No Downgrade Confirmation by the applicable Rating Agencies relating to the
Certificates and any Serviced Companion Loan Securities), and (4) in the case of such investments with maturities of more than
six months, the short term obligations of which are rated at least in the highest short term rating category by Moody’s and
“F1+” by Fitch, and the long term obligations of which are rated at least “Aaa” by Moody’s and “AA-”
by Fitch (or such lower rating as is the subject of a No Downgrade Confirmation by the applicable Rating Agencies relating to the
Certificates and any Serviced Companion Loan Securities);

(C)  federal
funds, unsecured uncertificated certificates of deposit, time deposits, demand deposits and bankers’ acceptances of any
bank or trust company organized under the laws of the United States or any state thereof, (1) in the case of such investments
with maturities of 30 days or less, the short term obligations of which are rated at least in the highest short-term debt
rating category of Moody’s and “F1” by Fitch, or the long term obligations of which are rated at least
“A2” by Moody’s and “A” by Fitch (or such lower rating as is the subject of a No Downgrade
Confirmation by the applicable Rating Agencies relating to the Certificates and any Serviced Companion Loan Securities), (2)
in the case of such investments with maturities of three months or less, but more than 30 days, the short term obligations of
which are rated at least in the highest short-term debt rating category of Moody’s and “F1+” by Fitch, or
the long term obligations of which are rated at “A2” by Moody’s and “AA-” by Fitch (or such
lower rating as is the subject of a No Downgrade Confirmation by the applicable Rating Agencies relating to the Certificates
and any Serviced Companion Loan Securities), (3) in the case of such investments with maturities of six months or less, but
more than three months, the short term obligations of which are rated at least in the highest short term rating category by
Moody’s and “F1+” by Fitch, and the long term obligations of which are rated at least “Aa3” by
Moody’s and “AA-” by Fitch (or such lower rating as is the subject of a No Downgrade Confirmation by each
of the Rating Agencies relating to the Certificates and any Serviced Companion Loan Securities), and (4) in the case of such
investments with maturities of more than six months, the short term obligations of which are rated at least in the
highest short-term debt rating category of Moody’s and “F1+” by Fitch, and the long term obligations of 

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which are rated
at least “Aaa” by Moody’s and “AA-” by Fitch (or such lower rating as is the subject of a No Downgrade
Confirmation by each of the Rating Agencies relating to the Certificates and any Serviced Companion Loan Securities);

(D)  commercial
paper of any corporation incorporated under the laws of the United States or any state thereof (or of any corporation not so incorporated,
provided that the commercial paper is United States Dollar denominated and amounts payable thereunder are not subject to
any withholding imposed by any non-United States jurisdiction) (1) in the case of such investments with maturities of 30 days or
less, the short term obligations of which are rated at least in the highest short-term debt rating category of KBRA (if then rated
by KBRA) and Moody’s and “F1” by Fitch, and the long term obligations of which are rated at least “A2”
by Moody’s and “A” by Fitch (or such lower rating as is the subject of a No Downgrade Confirmation by each of
the Rating Agencies relating to the Certificates and any Serviced Companion Loan Securities), (2) in the case of such investments
with maturities of three months or less, but more than 30 days, the short term obligations of which are rated at least in the highest
short-term debt rating category of Moody’s and “F1+” by Fitch, or the long term obligations of which are rated
at “A2” by Moody’s and “AA-” by Fitch (or such lower rating as is the subject of a No Downgrade Confirmation
by each of the Rating Agencies relating to the Certificates and any Serviced Companion Loan Securities), (3) in the case of such
investments with maturities of six months or less, but more than three months, the short term obligations of which are rated at
least in the highest short-term debt rating category of Moody’s and “F1+” by Fitch, or the long term obligations
of which are rated at “Aa3” by Moody’s and “AA-” by Fitch (or such lower rating as is the subject
of a No Downgrade Confirmation by each of the Rating Agencies relating to the Certificates and any Serviced Companion Loan Securities),
(4) in the case of such investments with maturities of more than six months, the short term obligations of which are rated at least
in the highest short-term debt rating category of Moody’s and “F1+” by Fitch, or the long term obligations of
which are rated at “Aaa” by Moody’s and “AA-” by Fitch (provided, in the case of clauses (1), (2),
(3) and (4), investments of Escrow Payments in any Escrow Account must only be rated “P-1” by Moody’s) (or such
lower rating as is the subject of a No Downgrade Confirmation by each of the Rating Agencies relating to the Certificates and any
Serviced Companion Loan Securities);

(E)  units
of taxable money market mutual funds, issued by regulated investment companies, which seek to maintain a constant net asset value
per share (including the Federated Prime Obligation Money Market Fund, US Bank Long Term Eurodollar Sweep or the Wells Fargo Advantage
Heritage Money Market Fund) so long as any such fund is rated in the highest short term unsecured debt ratings category by each
of KBRA, Moody’s and Fitch (or, if not rated by any such Rating Agency, an equivalent rating (or higher) by at least two
(2) NRSROs (which may include any of the Rating Agencies) or otherwise

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acceptable to such Rating Agency, in any such case, as confirmed
in a No Downgrade Confirmation relating to the Certificates and any Serviced Companion Loan Securities), and (2) units of money
market funds that (a) have substantially all of its assets invested continuously in the types of investments referred to in clause
(A) above, (b) has net assets of not less than $5,000,000,000, and (c) has the highest rating obtainable for money market funds
from Moody’s and Fitch;

(F)  an
obligation or security that, but for the failure to satisfy one or more of the minimum rating(s) set forth in the applicable clause,
would be listed in clauses (B) – (E) above, and is the subject of a No Downgrade Confirmation relating to the Certificates
and any Serviced Companion Loan Securities from each Rating Agency for which the minimum rating(s) set forth in the applicable
clause is not satisfied with respect to such obligation or security; and

(G)  any
other obligation or security other than one listed in clauses (A) – (E) above, that is the subject of a No Downgrade
Confirmation relating to the Certificates and any Serviced Companion Loan Securities from each and every Rating Agency;

provided that
each investment described hereunder shall not (A) evidence either the right to receive (1) only interest with respect
to such investment or (2) a yield to maturity greater than 120% of the yield to maturity at par of the underlying obligations,
(B) be purchased at a price greater than par if such investment may be prepaid or called at a price less than its purchase
price prior to stated maturity, (C) be sold prior to stated maturity if such sale would result in a loss of principal on the
instrument or a tax on “prohibited transactions” under Section 860F of the Code or (D) have an “r”
highlighter or other comparable qualifier attached to its rating; and provided, further, that each investment described
hereunder must have (X) a predetermined fixed amount of principal due at maturity (that cannot vary or change), (Y) an original
maturity of not more than 365 days and a remaining maturity of not more than thirty (30) days and (Z) except in the case of
a Permitted Investment described in clause (E) of this definition, a fixed interest rate or an interest rate that is
tied to a single interest rate index plus a single fixed spread and moves proportionately with that index; and provided,
further, that each investment described hereunder must be a “cash flow investment” (within the meaning of the
REMIC Provisions).

“Permitted
Special Servicer/Affiliate Fees”: Any commercially reasonable treasury management fees, banking fees, customary title
agent fees and insurance commissions or fees received or retained by the Special Servicer or any of its Affiliates in connection
with any services performed by such party with respect to any Mortgage Loan, Serviced Loan Combination or REO Property, in each
case, in accordance with Article III of this Agreement.

“Permitted
Transferee”: With respect to a Class R or Class LR Certificate, any Person or agent thereof that is a Qualified
Institutional Buyer, other than (a) a Disqualified Organization, (b) any other Person so designated by the Certificate
Registrar who is unable to provide an Opinion of Counsel (provided at the expense of such Person or the Person requesting
the Transfer) to the effect that the Transfer of an Ownership Interest in any Class R

    	-71-

    	 

    

or Class LR Certificate to such
Person will not cause either Trust REMIC to fail to qualify as a REMIC at any time that the Certificates are outstanding, (c) a
Person that is a Disqualified Non-U.S. Person and (d) a Plan or any Person investing the assets of a Plan.

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

“Plan”:
As defined in Section 5.02(k) of this Agreement.

“Platform-Level
Basis”: Only as used in connection with the Operating Advisor Annual Report, refers to the Special Servicer’s performance
of its duties as they relate to the resolution or liquidation of Specially Serviced Loans, taking into account the Special Servicer’s
specific duties under this Agreement as well as the extent to which those duties were performed in accordance with the Servicing
Standard, with reasonable consideration by the Operating Advisor of the Performance Assessment Information.

“Prepayment
Assumption”: The assumption that (i) each Mortgage Loan (other than an ARD Loan) does not prepay prior to its respective
Maturity Date and (ii) each ARD Loan prepays on its Anticipated Repayment Date.

“Prepayment
Interest Excess”: With respect to any Distribution Date, the aggregate amount, with respect to all Mortgage Loans or
Serviced Companion Loans serviced by the Master Servicer that were subject to Principal Prepayment in full or in part, or as to
which Insurance Proceeds, Liquidation Proceeds or Condemnation Proceeds, as applicable, were received by the Master Servicer or
Special Servicer for application to such Mortgage Loans or Serviced Companion Loans, in each case after the Due Date in the month
of such Distribution Date and on or prior to the related Determination Date, the amount of interest accrued at the Mortgage Rate
for such Mortgage Loans or Serviced Companion Loans on the amount of such Principal Prepayments, Insurance Proceeds, Liquidation
Proceeds and Condemnation Proceeds after the Due Date relating to such Collection Period and accruing in the manner set forth in
the related Loan Documents, to the extent such interest is collected by the Master Servicer or the Special Servicer (without regard
to any Prepayment Premium, Yield Maintenance Charge or Excess Interest actually collected).

“Prepayment
Interest Shortfall”: With respect to any Distribution Date, for each Mortgage Loan or Serviced Companion Loan serviced
by the Master Servicer that was subject to a Principal Prepayment in full or in part and which did not include a full month’s
interest, or as to which Insurance Proceeds, Liquidation Proceeds or Condemnation Proceeds, as applicable, were received by the
Master Servicer or Special Servicer for application to such Mortgage Loan or Serviced Companion Loan, in each case after the Due
Date in the calendar month preceding such Distribution Date but prior to the Due Date in the related Collection Period, the amount
of interest that would have accrued at the Net Mortgage Pass-Through Rate for such Mortgage Loan or Serviced Companion Loan on
the amount of such Principal Prepayment, Insurance Proceeds, Liquidation Proceeds or Condemnation Proceeds during the period commencing
on the date as of which such Principal Prepayment, Insurance Proceeds, Liquidation Proceeds or Condemnation Proceeds, as applicable,
were applied to the unpaid

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principal balance of the Mortgage Loan or Serviced Companion Loan and ending on (and including) the
day immediately preceding such Due Date (without regard to any Prepayment Premium, Yield Maintenance Charge or Excess Interest
actually collected).

“Prepayment
Premium”: Any premium, fee or other additional amount (other than a Yield Maintenance Charge) paid or payable on a Mortgage
Loan or Serviced Companion Loan by a Borrower as the result of a Principal Prepayment thereon, not otherwise due thereon, in respect
of principal or interest, which is intended to compensate the holder of the related Note for prepayment.

“Pricing
Date”: September 28, 2015.

“Primary
Servicing Fee Rate”: With respect to each Mortgage Loan (other than Non-Serviced Mortgage Loans and Servicing Shift Mortgage
Loans), the rate per annum set forth on Exhibit B to this Agreement. With respect to Non-Serviced Mortgage Loans,
except as provided for on Exhibit B to this Agreement, no Primary Servicing Fee Rate will be charged by the Master
Servicer, but the Pari Passu Loan Primary Servicing Fee Rate is charged by the applicable Other Servicer pursuant to the related
Other Pooling and Servicing Agreement.

“Prime Rate”:
The “Prime Rate” as published in the “Money Rates” section of The Wall Street Journal, Eastern
edition (or, if such section or publication is no longer available, such other comparable publication as determined by the Certificate
Administrator in its reasonable discretion) as may be in effect from time to time, or, if the “Prime Rate” no longer
exists, such other comparable rate (as determined by the Certificate Administrator in its reasonable discretion) as may be in effect
from time to time. The Certificate Administrator shall notify in writing the Master Servicer and the Special Servicer with regard
to any determination of the Prime Rate in accordance with the parenthetical in the preceding sentence.

“Principal
Distribution Amount”: For any Distribution Date, an amount equal to (i) the sum of (without duplication):

(a)          the
principal component of all scheduled Monthly Payments (other than Balloon Payments) due on the Mortgage Loans on the related Due
Date (if received during the related Collection Period or advanced);

(b)          the
principal component of all Assumed Scheduled Payments due on the related Due Date (if received during the related Collection Period
or advanced) with respect to any Mortgage Loan that is delinquent in respect of its Balloon Payment;

(c)          the
Stated Principal Balance of each Mortgage Loan that was, during the related Collection Period, repurchased from the Trust Fund
in connection with a Breach or Defect pursuant to Section 2.03 of this Agreement, purchased pursuant to Section 3.16
of this Agreement, or purchased from the Trust Fund pursuant to Section 9.01 of this Agreement;

(d)          the
portion of Unscheduled Payments allocable to principal of any Mortgage Loan that was liquidated during the related Collection Period;

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(e)          the
principal component of all Balloon Payments and any other principal payment on any Mortgage Loan received on or after the Maturity
Date thereof, to the extent received during the related Collection Period;

(f)          all
other Principal Prepayments on Mortgage Loans received in the related Collection Period; and

(g)          any
other full or partial recoveries in respect of principal of Mortgage Loans, including Net Insurance Proceeds, Net Liquidation Proceeds
and Net REO Proceeds received in the related Collection Period (net of any related outstanding P&I Advances allocable to principal,
but including any amount related to the Loss of Value Payments to the extent that such amount was transferred into the Collection
Account pursuant to Section 3.06(e) of this Agreement during the related Collection Period);

as reduced by (ii) any (1) Nonrecoverable
Advances plus interest on such Nonrecoverable Advances that are paid or reimbursed from principal collections on the Mortgage Loans
or, with respect to Property Advances, the Serviced Loan Combinations, in a period during which such principal collections would
have otherwise been included in the Principal Distribution Amount for such Distribution Date and (2) Workout-Delayed Reimbursement
Amounts that were paid or reimbursed from principal collections on the Mortgage Loans or, with respect to Property Advances, the
Serviced Loan Combinations, in a period during which such principal collections would have otherwise been included in the Principal
Distribution Amount for such Distribution Date (provided that, in the case of clauses (1) and (2) above, if any of
the amounts that were reimbursed from principal collections on the Mortgage Loans or, with respect to Property Advances, the Serviced
Loan Combinations, are subsequently recovered on the related Mortgage Loan or Serviced Loan Combination, such recovery will increase
the Principal Distribution Amount for the Distribution Date related to the period in which such recovery occurs).

The principal component of the
amounts set forth above shall be determined in accordance with Section 1.02 of this Agreement.

“Principal
Prepayment”: Any payment of principal made by a Borrower on a Mortgage Loan or Serviced Companion Loan which is received
in advance of its scheduled due date and which is not accompanied by an amount of interest representing the full amount of scheduled
interest due on any date or dates in any month or months subsequent to the month of prepayment.

“Private
Certificate”: Each of the Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F,
Class G, Class H, Class V, Class R and Class LR Certificates.

“Private
Global Certificate”: Each of the Regulation S Global Certificates or Rule 144A Global Certificates with respect
to the Private Certificates if and so long as such class of Certificates is registered in the name of a nominee of the Depository.

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“Private
Non-Regular Certificate”: Each of the Class V, Class R and Class LR Certificates.

“Private
Placement Memorandum”: Means the Private Placement Memorandum, dated the Pricing Date, pursuant to which the Private
Certificates will be offered for sale.

“Privileged
Information”: Any (i) correspondence or other communications between a Directing Holder and the Special Servicer
related to any Specially Serviced Loan or the exercise of the consent or consultation rights of a Directing Holder under this Agreement
or any related Intercreditor Agreement, (ii) strategically sensitive information that the Special Servicer has reasonably
determined could compromise the Trust Fund’s position in any ongoing or future negotiations with the related Borrower or
other interested party, and (iii) information subject to attorney-client privilege.

“Privileged
Information Exception”: With respect to any Privileged Information, at any time (a) such Privileged Information
becomes generally available and known to the public other than as a result of a disclosure directly or indirectly by the party
restricted from disclosing such Privileged Information (the “Restricted Party”), (b) it is reasonable and
necessary for the Restricted Party to disclose such Privileged Information in working with legal counsel, auditors, taxing authorities
or other governmental agencies, (c) such Privileged Information was already known to such Restricted Party and not otherwise
subject to a confidentiality obligation and/or (d) the Restricted Party is (in the case of the Operating Advisor, by evidence
reasonably satisfactory to the Special Servicer) required by law to disclose such information.

“Privileged
Person”: A party to this Agreement, the Excluded Special Servicer, if any, a designee of the Depositor, each Serviced
Companion Loan Noteholder that delivers a certification substantially in the form of Exhibit EE hereto (which certification
may be submitted electronically, including by means of a “click through” confirmation on the Certificate Administrator’s
Website), the Controlling Class Representative (but only if no Consultation Termination Event has occurred and is continuing),
each Loan-Specific Directing Holder, each Mortgage Loan Seller, each Underwriter, each Initial Purchaser and any other person who
delivers to the Certificate Administrator an Investor Certification and any NRSRO that delivers an NRSRO Certification to the 17g-5
Information Provider, which Investor Certification and NRSRO Certification may be submitted electronically via the Certificate
Administrator’s Website or the 17g-5 Information Provider’s Website, as applicable; provided, that in no event
shall a Borrower, a Mortgagor, a Manager of a Mortgaged Property, an Affiliate, principal, partner, member, joint venturer, limited
partner, employee, representative, director, advisor or investor in any of the foregoing or an agent of any of the foregoing be
considered a Privileged Person, subject to the following proviso; provided, further, that any Excluded Controlling
Class Holder solely with respect to the related Excluded Controlling Class Mortgage Loan shall not be considered a Privileged Person.

The Controlling Class
Representative and each Controlling Class Certificateholder shall be considered a Privileged Person with respect to any Mortgage
Loan or Serviced Loan Combination (other than any related Excluded Controlling Class Mortgage

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Loan), and the limitations on access
to information set forth in this Agreement shall apply only with respect such related Excluded Controlling Class Mortgage Loan
and only with respect to the related Excluded Information. The Special Servicer shall be considered a Privileged Person with respect
to any Mortgage Loan or Serviced Companion Loans (other than any Excluded Special Servicer Mortgage Loan), and the limitations
on access to information set forth in this Agreement shall apply only with respect to such Excluded Special Servicer Mortgage Loan
and only with respect to the related Excluded Information.

“Prohibited
Party”: Any proposed Servicing Function Participant that is listed on the Depositor’s Do Not Hire List.

“Property
Advance”: As to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination, any advance
made by the Master Servicer or the Trustee, as applicable, in respect of Property Protection Expenses or any expenses incurred
to protect, preserve and enforce the security for a Mortgage Loan or a Serviced Loan Combination or to pay taxes and assessments
or insurance premiums with respect to the related Mortgaged Property, to the extent the making of any such advance is specifically
provided for in this Agreement, including, but not limited to, as provided in Section 3.01(e) and Section 3.21 of this
Agreement, as applicable. Each reference to the payment or reimbursement of a Property Advance shall be deemed to include, whether
or not specifically referred to, payment or reimbursement of interest thereon at the Advance Rate. Notwithstanding anything to
the contrary, “Property Advance” shall not include allocable overhead of the Master Servicer or the Special Servicer,
as applicable, such as costs for office space, office equipment, supplies and related expenses, employee salaries and related expenses
and similar internal costs and expenses or costs and expenses incurred by any such party in connection with its purchase of a Mortgage
Loan or REO Property.

“Property
Protection Expenses”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination,
any costs and expenses incurred by the Master Servicer or the Special Servicer pursuant to Section 3.04, Section 3.08(a),
Section 3.10, Section 3.11, Section 3.15(a), Section 3.15(b), Section 3.15(c), Section 3.16(c) or
Section 3.24(a) of this Agreement or indicated herein as being payable as a Property Advance or as a cost or expense of the
Trust Fund (and, in the case of the Serviced Loan Combinations, the Serviced Companion Loan Noteholders but subject to the provisions
of Section 1.02(e)) or the Lower-Tier REMIC or Upper-Tier REMIC to be paid out of the Collection Account.

“Prospectus”:
The Depositor’s Prospectus dated September 3, 2014, as supplemented by the Prospectus Supplement dated the Pricing Date,
relating to the offering of the Publicly Offered Certificates.

“Prudential
Plaza Companion Loans”: As defined in the Preliminary Statement.

“Prudential
Plaza Loan Combination”: The Prudential Plaza Companion Loans, together with the Prudential Plaza Mortgage Loan. References
herein to the Prudential Plaza Loan Combination shall be construed to refer to the aggregate indebtedness under the

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Prudential
Plaza Pari Passu Note A-1, the Prudential Plaza Pari Passu Note A-2, the Prudential Plaza Pari Passu Note A-3 and the Prudential
Plaza Pari Passu Note A-4.

“Prudential
Plaza Mortgage Loan”: As defined in the Preliminary Statement.

“Prudential
Plaza Pari Passu Note A-1”: The promissory note designated as Note A-1, which evidences a portion of the Prudential
Plaza Loan Combination. The Prudential Plaza Pari Passu Note A-1 is included in the Trust Fund and is pari passu in right
of payment to the Prudential Plaza Pari Passu Note A-2, the Prudential Plaza Pari Passu Note A-3 and the Prudential Plaza
Pari Passu Note A-4, as set forth in the related Intercreditor Agreement. The Prudential Plaza Pari Passu Note A-1 is also the
Prudential Plaza Mortgage Loan.

“Prudential
Plaza Pari Passu Note A-2”: The promissory note designated as Note A-2, which evidences a portion of the Prudential
Plaza Loan Combination. The Prudential Plaza Pari Passu Note A-2 is not included in the Trust Fund and is pari passu in
right of payment to the Prudential Plaza Pari Passu Note A-1, the Prudential Plaza Pari Passu Note A-3 and the Prudential Plaza
Pari Passu Note A-4, as set forth in the related Intercreditor Agreement.

“Prudential
Plaza Pari Passu Note A-3”: The promissory note designated as Note A-3, which evidences a portion of the Prudential
Plaza Loan Combination. The Prudential Plaza Pari Passu Note A-3 is not included in the Trust Fund and is pari passu in
right of payment to the Prudential Plaza Pari Passu Note A-1, the Prudential Plaza Pari Passu Note A-2 and the Prudential Plaza
Pari Passu Note A-4, as set forth in the related Intercreditor Agreement.

“Prudential
Plaza Pari Passu Note A-4”: The promissory note designated as Note A-4, which evidences a portion of the Prudential
Plaza Loan Combination. The Prudential Plaza Pari Passu Note A-4 is not included in the Trust Fund and is pari passu in
right of payment to the Prudential Plaza Pari Passu Note A-1, the Prudential Plaza Pari Passu Note A-2 and the Prudential Plaza
Pari Passu Note A-3, as set forth in the related Intercreditor Agreement.

“PTCE”:
Prohibited Transaction Class Exemption.

“Publicly
Offered Certificates”: Each of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A,
Class A-M, Class B, Class C and Class D Certificates.

“Publicly
Offered Global Certificates”: Each of the Publicly Offered Certificates, if and so long as the applicable Class of Publicly
Offered Certificates is registered in the name of the Depository.

“Qualified
Affiliate”: Any Person (a) that is organized and doing business under the laws of any state of the United States
or the District of Columbia, (b) that is in the business of performing the duties of a servicer of mortgage loans (or, in
the case of the Operating Advisor, that is in the business of performing the duties of an operating advisor), and (c) as to
which 50% or greater of its outstanding voting stock or equity ownership interest

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are directly or indirectly
owned by the Master Servicer, the Special Servicer or the Operating Advisor, as applicable, or by any Person or Persons who directly
or indirectly own equity ownership interests in the Master Servicer, the Special Servicer or the Operating Advisor, as applicable.

“Qualified
Institutional Buyer”: A “qualified institutional buyer” within the meaning of Rule 144A.

“Qualified
Insurer”: As used in Section 3.08 of this Agreement,

(i) in
the case of each Mortgage Loan or Serviced Loan Combination, an insurance company or security or bonding company qualified to write
the related insurance policy in the relevant jurisdiction and whose claims paying ability is rated (a) at least “A-“
by Fitch (or, if not rated by Fitch, an equivalent rating by (x) at least two NRSROs (which may include S&P, Moody’s
and/or Morningstar) or (y) one NRSRO (which may include S&P, Moody’s and/or Morningstar) and A.M. Best), and (b)
at least “A3” by Moody’s (or, if not rated by Moody’s, an equivalent rating by (x) at least two NRSROs
(which may include S&P, Fitch and/or Morningstar) or (y) one NRSRO (which may include S&P, Fitch and/or Morningstar)
and A.M. Best), and

(ii) in
the case of the fidelity bond and the errors and omissions insurance required to be maintained pursuant to Section 3.08(d)
of this Agreement, a company that shall have a claim paying ability rated at least equal to any one of the following: (1) “A-”
or better by S&P, (2) “A3” or better by Moody’s, (3) “A-“ or better by Fitch, (4) “A (low)”
or better by DBRS or (5) “A-:X” or better by A.M. Best,

or, in the
case of clauses (i) and (ii), such other rating as to which the related Rating Agency (and, if applicable, the related Serviced
Companion Rating Agency) has provided a No Downgrade Confirmation relating to the Certificates and any Serviced Companion Loan
Securities (subject to the foregoing exceptions).

“Qualified
Mortgage”: A Mortgage Loan that is a “qualified mortgage” within the meaning of Section 860G(a)(3) of
the Code (but without regard to the rule in Treasury Regulations Section 1.860G-2(f)(2) that treats a defective obligation
as a qualified mortgage), or any substantially similar successor provision.

“Qualifying
Substitute Mortgage Loan”: A mortgage loan which must, on the date of substitution: (i) have an outstanding Stated
Principal Balance, after application of all scheduled payments of principal and/or interest due during or prior to the month of
substitution, whether or not received, not in excess of the Stated Principal Balance of the Removed Mortgage Loan as of the Due
Date in the calendar month during which the substitution occurs; (ii) have a Mortgage Rate not less than the Mortgage Rate
of the Removed Mortgage Loan; (iii) have the same Due Date as the Removed Mortgage Loan; (iv) accrue interest on the
same basis as the Removed Mortgage Loan (for example, on the basis of a 360-day year and the actual number of days elapsed); (v) have
a remaining term to stated maturity not greater than, and not more than two years less than, the remaining term to stated maturity
of the Removed Mortgage Loan; (vi) have an original loan to value ratio not higher than that of the Removed Mortgage Loan
and a current loan to value ratio not higher

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than the then current loan-to-value ratio of the Removed Mortgage Loan; (vii) materially
comply as of the date of substitution with all of the representations and warranties set forth in the applicable Mortgage Loan
Purchase Agreement; (viii) have an Environmental Report that indicates no material adverse environmental conditions with respect
to the related Mortgaged Property and that will be delivered as a part of the related Servicing File; (ix) have an original
Debt Service Coverage Ratio of not less than the original Debt Service Coverage Ratio of the Removed Mortgage Loan and a current
Debt Service Coverage Ratio of not less than the current Debt Service Coverage Ratio of the Removed Mortgage Loan; (x) be
determined by an Opinion of Counsel (at the applicable Mortgage Loan Seller’s expense) to be a “qualified replacement
mortgage” within the meaning of Section 860G(a)(4) of the Code; (xi) not have a maturity date after the date that
is three years prior to the Rated Final Distribution Date; (xii) not be substituted for a Removed Mortgage Loan unless the
Certificate Administrator and the Trustee have received prior No Downgrade Confirmation (the cost, if any, of obtaining such No
Downgrade Confirmation to be paid by the applicable Mortgage Loan Seller (provided that no such confirmation from any Rating Agency
shall be required with respect to any Serviced Companion Loan Securities); (xiii) have been approved, so long as no Control
Termination Event has occurred and is continuing, by the Directing Holder; (xiv) prohibit defeasance within two years after
the Closing Date; (xv) not be substituted for a Removed Mortgage Loan if it would result in the termination of the REMIC status
of either Trust REMIC or the imposition of tax on either Trust REMIC other than a tax on income expressly permitted or contemplated
to be received by the terms of this Agreement, as determined by an Opinion of Counsel; and (xvi) have an engineering report with
respect to the related Mortgaged Property that details that the related Mortgaged Property does not have any material adverse conditions
or deferred maintenance with respect to the related Mortgaged Property and that will be delivered as part of the related Servicing
File. In the event that one or more mortgage loans are substituted for one or more Removed Mortgage Loans, then the amounts described
in clause (i) shall be determined on the basis of aggregate Stated Principal Balances and the rates described in clause (ii)
above and the remaining term to stated maturity referred to in clause (v) above shall be determined on a weighted average
basis; provided that no individual Mortgage Rate shall be lower than the highest Pass-Through Rate (that is a fixed rate
not subject to a cap equal to the Weighted Average Net Mortgage Pass-Through Rate) of any Class of Sequential Pay Certificates
having an outstanding Certificate Balance. When a Qualifying Substitute Mortgage Loan is substituted for a Removed Mortgage Loan,
the applicable Mortgage Loan Seller shall certify that the Mortgage Loan meets all of the requirements of the above definition
and shall send such certification to the Certificate Administrator, the Operating Advisor, the Trustee and, for so long as no Consultation
Termination Event has occurred and is continuing, the Directing Holder.

“Rated Final
Distribution Date”: The Distribution Date in October 2048. The Class V, Class R and Class LR Certificates will
not have a Rated Final Distribution Date.

“Rating Agency”:
Any of Moody’s, Fitch, KBRA or Morningstar; provided, that with respect to any matter affecting a Non-Serviced Mortgage
Loan or any Serviced Loan Combination, “Rating Agency” shall also refer to any rating agency engaged to rate the Serviced
Companion Loan Securities related to such Serviced Loan Combination or securities related to such Non-Serviced Mortgage Loan, as
applicable.

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“Rating Agency
Q&A Forum and Document Request Tool”: As defined in Section 3.14(d) of this Agreement.

“Real Property”:
Land or improvements thereon such as buildings or other inherently permanent structures thereon (including items that are structural
components of the buildings or structures), in each such case as such terms are used in the REMIC Provisions.

“Realized
Loss”: With respect to any Distribution Date, the amount, if any, by which (i) the aggregate Certificate Balance
of the Sequential Pay Certificates, after giving effect to distributions of principal on such Distribution Date, exceeds (ii) the
aggregate Stated Principal Balance of the Mortgage Loans in the Mortgage Pool (for purposes of this calculation only, not giving
effect to any reductions of the Stated Principal Balance for principal payments received on the Mortgage Loans in the Mortgage
Pool that were used to reimburse the Master Servicer or the Trustee from general collections of principal on the Mortgage Loans
for Workout-Delayed Reimbursement Amounts, to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined
to be Nonrecoverable Advances), immediately following the Determination Date preceding such Distribution Date.

“Reassignment
of Assignment of Leases, Rents and Profits”: As defined in Section 2.01(a)(viii) of this Agreement.

“Record Date”:
With respect to each Distribution Date, the close of business on the last Business Day of the calendar month preceding the month
in which such Distribution Date occurs.

“Regular
Certificates”: The Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class X-B,
Class X-C, Class X-D, Class X-E, Class X-F, Class A-M, Class B, Class C, Class D, Class E, Class F,
Class G and Class H Certificates.

“Regulation
AB”: 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 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.

“Regulation D”:
Regulation D under the Act.

“Regulation S”:
Regulation S under the Act.

“Regulation
S Global Certificate”: Each of the Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F,
Class G and Class H Certificates issued as such on the Closing Date.

“Regulation
S Investor”: With respect to a transferee of an interest in a Regulation S Global Certificate, a transferee that acquires
such interest pursuant to Regulation S.

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“Regulation
S Transfer Certificate”: As defined in Section 5.02(c)(i)(B) of this Agreement.

“Relevant
Action”: As defined in Section 3.30(d) of this Agreement.

“Relevant
Servicing Criteria”: The Servicing Criteria applicable to each Reporting Servicer (as set forth, with respect to the
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee on Schedule II to this Agreement).
For clarification purposes, multiple Reporting Servicers can have responsibility for the same Relevant Servicing Criteria and some
of the Servicing Criteria will not be applicable to certain Reporting Servicers. With respect to a Servicing Function Participant
engaged by the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, the term “Relevant Servicing
Criteria” refers to the items of the Relevant Servicing Criteria applicable to the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee that engaged such Servicing Function Participant that are applicable to such Servicing
Function Participant based on the functions it has been engaged to perform.

“REMIC”:
A “real estate mortgage investment conduit” within the meaning of Section 860D of the Code and the REMIC Provisions.

“REMIC Provisions”:
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 other IRS-published administrative guidance promulgated thereunder, as the foregoing may be in effect
from time to time.

“Removed
Mortgage Loan”: A Mortgage Loan which is repurchased from the Trust Fund pursuant to the terms hereof or as to which
one or more Qualifying Substitute Mortgage Loans are substituted.

“Rents from
Real Property”: With respect to any Serviced REO Property, gross income of the character described in Section 856(d) of
the Code, which income, subject to the terms and conditions of that Section of the Code in its present form, does not include:

(a)          except
as provided in Section 856(d)(4) of the Code or (6), any amount received or accrued, directly or indirectly, with respect
to such Serviced REO Property, if the determination of such amount depends in whole or in part on the income or profits derived
by any Person from such property (unless such amount is a fixed percentage or percentages of receipts or sales and otherwise constitutes
Rents from Real Property);

(b)          any
amount received or accrued, directly or indirectly, from any Person if the Trust Fund owns directly or indirectly (including by
attribution) a ten percent or greater interest in such Person determined in accordance with Sections 856(d)(2)(B) and (d)(5)
of the Code;

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(c)          any
amount received or accrued, directly or indirectly, with respect to such Serviced REO Property if any Person Directly Operates
such Serviced REO Property;

(d)          any
amount charged for services that are not customarily furnished in connection with the rental of property to tenants in buildings
of a similar class in the same geographic market as such Serviced REO Property within the meaning of Treasury Regulations Section 1.856-4(b)(1) (whether
or not such charges are separately stated); and

(e)          rent
attributable to personal property unless such personal property is leased under, or in connection with, the lease of such Serviced
REO Property and, for any taxable year of the Trust Fund, such rent is no greater than 15 percent of the total rent received or
accrued under, or in connection with, the lease.

“REO Account”:
As defined in Section 3.15(b) of this Agreement.

“REO Loan”:
Any Mortgage Loan (excluding any Non-Serviced Mortgage Loan) or Serviced Loan Combination as to which the related Mortgaged Property
has become an REO Property.

“REO Proceeds”:
With respect to any Serviced REO Property and the related Serviced REO Loan, all revenues received by the Special Servicer with
respect to such Serviced REO Property or Serviced REO Loan which do not constitute Liquidation Proceeds.

“REO Property”:
A Mortgaged Property title to which has been acquired by the Special Servicer on behalf of the Trust Fund through foreclosure,
deed in lieu of foreclosure or otherwise, or in the case of a Non-Serviced Mortgage Loan, the Trust Fund’s beneficial interest
in the Mortgaged Property acquired by the Other Trustee pursuant to the Other Pooling and Servicing Agreement.

“Replacement
Mortgage Loan”: Any Qualifying Substitute Mortgage Loan that is substituted for one or more Removed Mortgage Loans.

“Reporting
Servicer”: As defined in Section 10.12 of this Agreement.

“Repurchase
Communication”: For purposes of Section 2.03(d) of this Agreement only, any communication, whether oral or written,
which need not be in any specific form.

“Repurchase”:
As defined in Section 2.03(d) of this Agreement.

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“Repurchase
Price”: With respect to (i) any Mortgage Loan to be repurchased or purchased pursuant to Section 2.03(e) or Section 9.01
of this Agreement, (ii) any Specially Serviced Loan or any Serviced REO Loan to be sold pursuant to Section 3.16 of this Agreement
or (iii) any Defaulted Mortgage Loan that is a Non-Serviced Mortgage Loan to be sold by the Special Servicer in accordance with
the second proviso in Section 3.16(b) of this Agreement, an amount, calculated by the Master Servicer or the Special Servicer,
as applicable, equal to:

(a)          the
outstanding principal balance of such Mortgage Loan as of the date of purchase; plus

(b)          all
accrued and unpaid interest on such Mortgage Loan at the related Mortgage Rate in effect from time to time to but not including
the Due Date in the month of purchase, but excluding any yield maintenance or other prepayment penalty; plus

(c)          all
related unreimbursed Property Advances plus accrued and unpaid interest on related Advances at the Advance Rate, and all Special
Servicing Fees and Workout Fees allocable to such Mortgage Loan (and, in the case of a Non-Serviced Mortgage Loan, unpaid fees
payable to the applicable servicer, Other Servicer, the Other Special Servicer or the Other Trustee allocable to such Mortgage
Loan); plus

(d)          any
Liquidation Fee due pursuant to Section 3.12 of this Agreement allocable to such Mortgage Loan or Specially Serviced Loan;
plus

(e)          all
Additional Trust Fund Expenses allocable to such Mortgage Loan; plus

(f)          if
such Mortgage Loan (or related REO Loan) is being purchased by a Mortgage Loan Seller pursuant to the related Mortgage Loan Purchase
Agreement, to the extent not otherwise included in the amount described in clause (c) of this definition, all reasonable
out-of-pocket expenses reasonably incurred or to be incurred by the Master Servicer, the Special Servicer, the Depositor, the Certificate
Administrator and the Trustee in respect of the Breach or Defect giving rise to the repurchase obligation, including any such expenses
arising out of the enforcement of the repurchase obligation, including, without duplication, any such expenses previously reimbursed
from the Collection Account or the applicable Serviced Loan Combination Collection Account, as applicable, plus accrued and unpaid
interest thereon at the Advance Rate, to the extent payable to the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee.

For purposes
of this Agreement, (i) the “Repurchase Price” in respect of a Serviced Companion Loan that is purchased by the
related Mortgage Loan Seller shall be the repurchase price paid by the related Mortgage Loan Seller as calculated under the related
Other Pooling and Servicing Agreement or the applicable servicing agreement, (ii) with respect to a sale of an REO Property
securing a Serviced Loan Combination, the term Mortgage Loan or REO Loan shall be construed to include any related

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Companion Loans,
and (iii) with respect to a Joint Mortgage Loan, the “Repurchase Price” for each of the applicable Mortgage Loan Sellers
shall be its respective percentage interest as of the Closing Date of the total Repurchase Price for such Joint Mortgage Loan.

“Repurchase
Request”: As defined in Section 2.03(d) of this Agreement.

“Repurchase
Request Recipient”: As defined in Section 2.03(d) of this Agreement.

“Repurchase
Request Rejection”: As defined in Section 2.03(d) of this Agreement.

“Repurchase
Request Withdrawal”: As defined in Section 2.03(d) of this Agreement.

“Repurchased
Note”: As defined in Section 2.03(d) of this Agreement.

“Repurchased
Percentage Interest”: As defined in Section 2.03(d) of this Agreement.

“Repurchasing
Seller”: As defined in Section 2.03(d) of this Agreement.

“Request
for Release”: A request for a release signed by a Servicing Officer, substantially in the form of Exhibit E
to this Agreement.

“Requesting
Holders”: As defined in Section 4.08(b) of this Agreement.

“Requesting
Party”: As defined in Section 3.30(a) of this Agreement.

“Reserve
Accounts”: With respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination,
reserve accounts, if any, established pursuant to the Mortgage or the Loan Agreement and any Escrow Account. Any Reserve Account
may be a sub-account of a related Cash Collateral Account. Any Reserve Account shall be beneficially owned for federal income tax
purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions
of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed
on all reinvestment income or gain thereon. The Master Servicer shall be permitted to make withdrawals therefrom for deposit into
the related Cash Collateral Account, if applicable, or the Collection Account or for the purposes set forth under the related Loan
Documents for the related Mortgage Loan or Serviced Loan Combination.

“Residual
Certificates”: The Class R and Class LR Certificates, collectively.

“Resolution
Extension Period”: Any of the following:

(a)          for
purposes of remediating a Material Breach with respect to any Mortgage Loan, the 90-day period following the end of the applicable
Initial Resolution Period;

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(b)          for
purposes of remediating a Material Defect with respect to any Mortgage Loan that is not a Specially Serviced Loan at the commencement
of, and does not become a Specially Serviced Loan during, the applicable Initial Resolution Period, the period commencing at the
end of the applicable Initial Resolution Period and ending on, and including, the earlier of (i) the 90th day following the
end of such Initial Resolution Period and (ii) the 45th day following the applicable Mortgage Loan Seller’s receipt
of written notice from the Master Servicer or the Special Servicer of the occurrence of any Servicing Transfer Event with respect
to such Mortgage Loan subsequent to the end of such Initial Resolution Period;

(c)          for
purposes of remediating a Material Defect with respect to any Mortgage Loan that is a not a Specially Serviced Loan as of the commencement
of the applicable Initial Resolution Period, but as to which a Servicing Transfer Event occurs during such Initial Resolution Period,
the period commencing at the end of the applicable Initial Resolution Period and ending on, and including, the 90th day following
the earlier of the end of such Initial Resolution Period and the applicable Mortgage Loan Seller’s receipt of written notice
from the Master Servicer or the Special Servicer of the occurrence of such Servicing Transfer Event; and

(d)          for
purposes of remediating a Material Defect with respect to any Mortgage Loan that is a Specially Serviced Loan as of the commencement
of the applicable Initial Resolution Period, zero (-0-) days; provided that, if the applicable Mortgage Loan Seller did
not receive written notice from the Master Servicer or the Special Servicer of the relevant Servicing Transfer Event as of the
commencement of the applicable Initial Resolution Period, then such Servicing Transfer Event shall be deemed to have occurred during
such Initial Resolution Period and clause (c) of this definition will be deemed to apply.

“Responsible
Officer”: When used with respect to the Trustee or the Certificate Administrator, any officer of the Trustee or
the Certificate Administrator, as the case may be, assigned to the Corporate Trust Office of such party; in each case, with direct
responsibility for the administration of this Agreement and also, with respect to a particular matter, any other officer to whom
such matter is referred because of such officer’s knowledge of and familiarity with the particular subject, and, in the case
of any certification required to be signed by a Responsible Officer, such an officer whose name and specimen signature appears
on a list of corporate trust officers furnished to the Master Servicer by the Trustee and the Certificate Administrator, as such
list may from time to time be amended.

“Restricted
Certificate”: As defined in Section 5.02(k) of this Agreement.

“Restricted
Period”: The 40-day period prescribed by Regulation S commencing on the later of (a) the date upon which the Certificates
are first offered to persons other than the Initial Purchasers and any other distributor (as defined in Regulation S) of the
Certificates and (b) the Closing Date.

“Revised
Rate”: With respect to those Mortgage Loans on the Mortgage Loan Schedule indicated as having a revised rate, the increased
interest rate after the Anticipated

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Repayment Date (in the absence of a default) for each applicable Mortgage Loan, as calculated
and as set forth in the related Mortgage Loan.

“Rule 144A”:
Rule 144A under the Act.

“Rule 144A
Global Certificate”: Each of the Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F,
Class G and Class H Certificates issued as such on the Closing Date.

“Rule 15Ga-1
Notice”: As defined in Section 2.03(d) of this Agreement.

“Rule 15Ga-1
Notice Provider”: As defined in Section 2.03(d) of this Agreement.

“S&P”:
Standard and Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business, or its successor
in interest. If neither such rating agency nor any successor remains in existence, “S&P” shall be deemed to refer
to such other nationally recognized statistical rating agency or other comparable Person reasonably designated by the Depositor,
notice of which designation shall be given to the other parties hereto, and specific ratings of S&P herein referenced shall
be deemed to refer to the equivalent ratings of the party so designated.

“Sarbanes-Oxley
Act”: The Sarbanes-Oxley Act of 2002 and the rules and regulations of the Commission promulgated thereunder (including
any interpretations thereof by the Commission’s staff).

“Sarbanes-Oxley
Certification”: As defined in Section 10.08 of this Agreement.

“Securities
Legend”: As defined in Section 5.02(c)(iii) of this Agreement.

“Sequential
Pay Certificate”: The Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class A-M, Class B,
Class C, Class D, Class E, Class F, Class G and Class H Certificates.

“Serviced
Companion Loan”: With respect to any Serviced Loan Combination, any related mortgage loan not included in the Trust that
is serviced under this Agreement and that is generally (a) payable on a pari passu basis with the related Mortgage
Loan included in the Trust to the extent set forth in the related Intercreditor Agreement or (b) subordinated in right of
payment to the related Mortgage Loan included in the Trust to the extent set forth in the related Intercreditor Agreement. The
Prudential Plaza Companion Loans are Serviced Companion Loans related to the Trust.

“Serviced
Companion Loan No Downgrade Confirmation”: With respect to any matter involving the servicing and administration of a
Serviced Companion Loan or Serviced REO Loan as to which any Serviced Companion Loan Securities exist, confirmation in writing
(which may be in electronic form) by each applicable Serviced Companion Loan Rating Agency that a proposed action, failure to act
or other event so specified will not, in and of itself, result in the downgrade, withdrawal or qualification of the then current
rating assigned to any class

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of such Serviced Companion Loan Securities (if then rated by such Serviced Companion Loan Rating Agency);
provided that upon receipt of a written waiver or other acknowledgment from a Serviced Companion Loan Rating Agency indicating
its decision not to review or declining to review the matter for which the Serviced Companion Loan Rating Agency Confirmation is
sought (such written notice, a “Serviced Companion Loan Rating Agency Declination”), or as otherwise provided
in Section 3.30 of this Agreement, the requirement for the Serviced Companion Loan Rating Agency Confirmation from the applicable
Serviced Companion Loan Rating Agency with respect to such matter shall not apply.

“Serviced
Companion Loan Noteholder”: Any holder of a Serviced Companion Loan; provided that for so long as a Serviced Companion
Loan is included in an Other Securitization, for purposes of providing or distributing any reports, statements, notices or other
information required or permitted to be provided to a Serviced Companion Loan Noteholder hereunder, “Serviced Companion Loan
Noteholder” shall also include the related Other Servicer.

“Serviced
Companion Loan Noteholder Register”: As defined in Section 3.27(b) of this Agreement.

“Serviced
Companion Loan Rating Agency”: With respect to any Serviced Companion Loan, any rating agency that was engaged by a participant
in the securitization of such Serviced Companion Loan to assign a rating to the related Serviced Companion Loan Securities.

“Serviced
Companion Loan Securities”: With respect to any Serviced Companion Loan, for so long as the related Mortgage Loan or
any successor Serviced REO Loan is part of the Mortgage Pool, any class of securities backed by such Serviced Companion Loan. Any
reference herein to a “series” of Serviced Companion Loan Securities shall refer to separate securitizations of one
or more of the Serviced Companion Loans.

“Serviced
Companion Loan Service Provider”: With respect to any Serviced Companion Loan that has been deposited into a securitization
trust, the related Other Trustee, Other Servicer, Other Special Servicer, any sub-servicer and any other Person that makes principal
and/or interest advances in respect of such mortgage loan pursuant to the related Other Pooling and Servicing Agreement.

“Serviced
Loan Combination”: Any Loan Combination serviced under this Agreement that is divided into one or more notes, which includes
a mortgage note that is included in the Trust and (a) one or more Subordinate Companion Loans not included in the Trust and/or
(b) one or more Pari Passu Companion Loans not included in the Trust. References herein to a Serviced Loan Combination shall
be construed to refer to the aggregate indebtedness under the related notes. The Prudential Plaza Loan Combination is a Serviced
Loan Combination related to the Trust.

“Serviced
Loan Combination Collection Account”: With respect to each Serviced Loan Combination, the separate account or sub-account
created and maintained by the Master Servicer pursuant to Section 3.05(g) on behalf of the Certificateholders and the
related Serviced Companion Loan Noteholders, which shall be entitled “Wells Fargo Bank, National

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Association, as Master Servicer,
on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of COMM 2015-CCRE26 Mortgage Trust
Commercial Mortgage Pass-Through Certificates, Serviced Loan Combination Collection Account.” Amounts in any Serviced Loan
Combination Collection Account applicable to the related Serviced Companion Loans shall not be assets of the Trust Fund, but instead
shall be held by the Master Servicer on behalf of the Trust Fund (in respect of amounts reimbursable therefrom) and, the related
Serviced Companion Loan Noteholders. Any such account or sub-account shall be an Eligible Account or a sub-account of an Eligible
Account (including a sub-account of the Collection Account).

“Serviced
Loan Combination Remittance Amount”: For each distribution date that a Master Servicer is required to make a distribution
to a Serviced Companion Loan Noteholder pursuant to Section 3.05(h) and with respect to each Serviced Loan Combination and
related Mortgaged Property (if it becomes a Serviced REO Property), any amount received by the Master Servicer (or, with respect
to a Serviced REO Property, the Special Servicer) during the related Collection Period that is payable to the Serviced Companion
Loan Noteholder(s) pursuant to the related Intercreditor Agreement or to be remitted to the Collection Account.

“Serviced
Loan Combination REO Account”: As defined in Section 3.15(b) of this Agreement.

“Serviced
Loan Combination Special Servicer”: Any Person responsible for performing the duties of Special Servicer hereunder with
respect to a Serviced Loan Combination or any related Serviced REO Property.

“Serviced
Pari Passu Companion Loan”: With respect to any Serviced Loan Combination, any related mortgage note not included in
the Trust that is serviced under this Agreement and that is generally payable on a pari passu basis with the related Mortgage
Loan included in the Trust to the extent set forth in the related Intercreditor Agreement. The Prudential Plaza Companion Loans
are Serviced Pari Passu Companion Loans related to the Trust.

“Serviced
Pari Passu Companion Loan Noteholder”: Any holder of a Serviced Pari Passu Companion Loan.

“Serviced
REO Loan”: Any REO Loan that is serviced by the Special Servicer pursuant to this Agreement.

“Serviced
REO Property”: Any REO Property that is serviced by the Special Servicer pursuant to this Agreement.

“Serviced
Subordinate Companion Loan”: With respect to any Serviced Loan Combination, any related subordinated mortgage note not
included in the Trust that is serviced under this Agreement and that is generally subordinated in right of payment to the related
Mortgage Loan included in the Trust to the extent set forth in the related Intercreditor Agreement. There are no Serviced Subordinate
Companion Loans related to the Trust.

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“Service(s)(ing)”:
In accordance with Regulation AB, the act of servicing and administering the Mortgage Loans or any other assets of the Trust by
an entity that meets the definition of “servicer” set forth in Item 1101 of Regulation AB and is referenced in the
disclosure requirements set forth in Item 1108 of Regulation AB. For clarification purposes, any uncapitalized occurrence of this
term shall have the meaning commonly understood by participants in the commercial mortgage-backed securities market.

“Servicer
Remittance Date”: With respect to any Distribution Date, the Business Day preceding such Distribution Date.

“Servicer
Termination Event”: A Master Servicer Termination Event or Special Servicer Termination Event, as applicable.

“Servicing
Compensation”: With respect to any Collection Period, the related Servicing Fee, Net Prepayment Interest Excess, if any,
and any other fees, charges or other amounts payable to the Master Servicer under this Agreement for such period.

“Servicing
Criteria”: The criteria set forth in paragraph (d) of Item 1122 of Regulation AB as such may be amended from time
to time.

“Servicing
Fee”: With respect to each Mortgage Loan or Serviced Pari Passu Companion Loan and for any Distribution Date, an amount
per Interest Accrual Period equal to the product of (i) the respective Servicing Fee Rate (adjusted to a monthly rate) and
(ii) the Stated Principal Balance of such Mortgage Loan or Serviced Pari Passu Companion Loan as of the Due Date in the immediately
preceding Collection Period (without giving effect to payments of principal on such Mortgage Loan or Serviced Pari Passu Companion
Loan on such Due Date). The Servicing Fee shall be calculated in accordance with the provisions of Section 1.02(a) of this
Agreement. For the avoidance of doubt, with respect to any Subordinate Companion Loan, unless otherwise agreed upon with the holder
of the related Subordinate Companion Loan, no Servicing Fee shall accrue or be payable on the principal balance thereof, and with
respect to each Mortgage Loan, the Servicing Fee shall be deemed payable from the Lower-Tier REMIC.

“Servicing
Fee Amount”: With respect to the Master Servicer and any date of determination, the aggregate of the products obtained
by multiplying, for each Mortgage Loan or Serviced Pari Passu Companion Loan, (a) the Stated Principal Balance of such Mortgage
Loan or Serviced Pari Passu Companion Loan as of the end of the immediately preceding Collection Period and (b) the difference
between the Servicing Fee Rate for such Mortgage Loan or Serviced Pari Passu Companion Loan over the servicing fee rate (if any)
applicable to such Mortgage Loan or Serviced Pari Passu Companion Loan as specified in any Sub-Servicing Agreement related to such
Mortgage Loan or Serviced Pari Passu Companion Loan. With respect to each Sub-Servicer and any date of determination, the aggregate
of the products obtained by multiplying, for each Mortgage Loan or Serviced Pari Passu Companion Loan serviced by such Sub-Servicer,
(a) the Stated Principal Balance of such Mortgage Loan or Serviced Pari Passu Companion Loan as of the end of the immediately
preceding Collection Period and (b) the servicing fee rate specified in the related Sub-Servicing Agreement for such Mortgage
Loan.

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“Servicing
Fee Rate”: (A) With respect to each Mortgage Loan, the sum of the Master Servicing Fee Rate and the related Primary Servicing
Fee Rate, if any, which rates per annum are set forth on Exhibit B to this Agreement and (B) with respect to
the Serviced Pari Passu Companion Loan, the related Primary Servicing Fee Rate.

“Servicing
File”: As defined in the related Mortgage Loan Purchase Agreement and including any original or copy of any replacement
comfort letter related to any hospitality property following receipt thereof by the Master Servicer.

“Servicing
Function Participant”: Any Person, other than the Master Servicer, the Special Servicer, the Certificate Administrator,
the Trustee or the Operating Advisor, that, within the meaning of Item 1122 of Regulation AB, is performing activities that
address the Servicing Criteria, unless such Person’s activities relate only to 5% or less of the Mortgage Loans (based on
their Stated Principal Balance) or the Master Servicer has assumed responsibility for the servicing activity, as provided for under
Regulation AB. No Non-Serviced Mortgage Loan Service Provider shall be a Servicing Function Participant retained by any Servicing
Function Participant that is a party to this Agreement, unless such party is a Servicing Function Participant in connection with
its servicing obligations under this Agreement.

“Servicing
Officer”: Any officer or employee of the Master Servicer or the Special Servicer, as applicable, involved in, or responsible
for, the administration and servicing of the Mortgage Loans and/or Serviced Companion Loans, or this Agreement and also, with respect
to a particular matter, any other officer to whom such matter is referred because of such officer’s or employee’s knowledge
of and familiarity with the particular subject, and, in the case of any certification required to be signed by a Servicing Officer,
such an officer or employee whose name and specimen signature appears on a list of servicing officers furnished to the Certificate
Administrator, the Operating Advisor and the Trustee by the Master Servicer or the Special Servicer, as applicable, as such list
may from time to time be amended.

“Servicing
Shift Lead Note”: With respect to any Servicing Shift Loan Combination, as of any date of determination, the note or
other evidence of indebtedness and/or agreements evidencing the indebtedness of a Borrower under such Servicing Shift Loan Combination
including any amendments or modifications, or any renewal or substitution notes, as of such date, the sale of which to the related
Other Securitization will cause servicing to shift from this Pooling and Servicing Agreement to the related Other Pooling and Servicing
Agreement pursuant to the terms of the related Intercreditor Agreement for such Servicing Shift Loan Combination. As of the Closing
Date, there will be no Servicing Shift Lead Note related to the Trust.

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“Servicing
Shift Lead Note Securitization Date”: With respect to any Servicing Shift Loan Combination, the date on which the related
Servicing Shift Lead Note is included in a related Other Securitization, provided that such holder of a Servicing Shift Lead Note
provides each of the parties to this Agreement (in each case only to the extent such party will not also be a party to the related
Other Securitization) with notice in accordance with the terms of the related Intercreditor Agreement that such Servicing Shift
Lead Note is to be included in such Other Securitization, which notice shall include contact information for the related Other
Servicer, the Other Special Servicer and the Other Trustee. As of the Closing Date, there will be no Servicing Shift Lead Note
Securitization Date related to the Trust.

“Servicing
Shift Loan Combination”: Any Loan Combination serviced under the Pooling and Servicing Agreement as of the Closing Date,
which includes the related Servicing Shift Mortgage Loan included in the Issuing Entity and one or more Pari Passu Companion Loans
not included in the Issuing Entity, but the servicing of which is expected to shift to the pooling and servicing agreement entered
into in connection with the securitization of the related Controlling Companion Loan on and after the date of such securitization.
As of the Closing Date, there will be no Servicing Shift Loan Combination related to the Trust.

“Servicing
Shift Mortgage Loan” With respect to any Servicing Shift Loan Combination, a Mortgage Loan included in the Issuing Entity
that will be serviced under this Agreement as of the Closing Date, but the servicing of which is expected to shift to the pooling
and servicing agreement entered into in connection with the securitization of the related Controlling Companion Loan on and after
the date of such securitization. As of the Closing Date, there will be no Servicing Shift Mortgage Loan related to the Trust.

“Servicing
Standard”: With respect to the Master Servicer (with respect to the Mortgage Loans (other than any Non-Serviced Mortgage
Loans) and Serviced Loan Combinations that are not Specially Serviced Loans) and the Special Servicer (with respect to the Specially
Serviced Loans (other than any Non-Serviced Mortgage Loans) and Serviced REO Loans), to diligently service and administer the applicable
Mortgage Loans (other than any Non-Serviced Mortgage Loans) or Serviced Loan Combinations, Specially Serviced Loans (other than
any Non-Serviced Mortgage Loans) and Serviced REO Loans for which each is responsible in the best interests of and for the benefit
of all of the Certificateholders and, in the case of any Serviced Loan Combination, the related Serviced Companion Loan Noteholders
(as a collective whole as if such Certificateholders and Serviced Companion Loan Noteholders constituted a single lender (and with
respect to any Serviced Loan Combination with a related Subordinate Companion Loan, in all cases and at all times taking into account
the subordinate nature of such Subordinate Companion Loan), as determined by the Master Servicer or the Special Servicer, as the
case may be, in the exercise of its reasonable judgment) in accordance with applicable law, the terms of this Agreement, the applicable
Loan Documents and any related Intercreditor Agreement, and to the extent not inconsistent with the foregoing, in accordance with
the higher of the following standards of care:

(a)          the
same manner in which, and with the same care, skill, prudence and diligence with which the Master Servicer or the Special Servicer,
as the case may be, services and administers similar mortgage loans for other third-party portfolios, giving

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due consideration
to the customary and usual standards of practice of prudent institutional commercial, multifamily and manufactured housing community
mortgage loan servicers servicing their own mortgage loans with a view to the timely recovery of all payments of principal and
interest under the applicable Mortgage Loans or Serviced Loan Combinations or, in the case of Defaulted Mortgage Loans, the maximization
of timely recovery of principal and interest on a net present value basis (determined in accordance with the Loan Documents or,
if the Loan Documents are silent, at the Calculation Rate) on the applicable Mortgage Loans or Serviced Loan Combinations, in all
cases and at all times taking into account the costs to Certificateholders or Serviced Companion Loan Noteholders of any Master
Servicer or Special Servicer compensation, and the best interests of the Trust and the Certificateholders and, in the case of any
Serviced Loan Combination, the related Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders
and Serviced Companion Loan Noteholders, as applicable, constituted a single lender (and with respect to any Serviced Loan Combination
with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan), as determined
by the Master Servicer or the Special Servicer, as the case may be, in its reasonable judgment); and

(b)          the
same care, skill, prudence and diligence with which the Master Servicer or the Special Servicer, as the case may be, services and
administers commercial, multifamily and manufactured housing community mortgage loans owned, if any, by the Master Servicer or
the Special Servicer, as the case may be, with a view to the timely recovery of all payments of principal and interest under the
applicable Mortgage Loans or Serviced Loan Combinations or, in the case of Defaulted Mortgage Loans, the maximization of timely
recovery of principal and interest on a net present value basis (determined in accordance with the Loan Documents or, if the Loan
Documents are silent, at the Calculation Rate) on the applicable Mortgage Loans or Serviced Loan Combinations, in all cases and
at all times taking into account the costs to Certificateholders or Serviced Companion Loan Noteholders of any Master Servicer
or Special Servicer compensation, and the best interests of the Trust and the Certificateholders and, in the case of any Serviced
Loan Combination, the related Serviced Companion Loan Noteholders, (as a collective whole as if such Certificateholders and Serviced
Companion Loan Noteholders, as applicable, constituted a single lender (and with respect to any Serviced Loan Combination with
a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan), as determined
by the Master Servicer or the Special Servicer, as the case may be, in its reasonable judgment);

but without
regard to any potential conflict of interest arising from (a) any relationship that the Master Servicer or the Special Servicer,
as the case may be, or any Affiliate of the Master Servicer or the Special Servicer, may have with the related Borrower, any Mortgage
Loan Seller, any other party to this Agreement or any Affiliate of the foregoing; (b) the ownership of any Certificate or
any interest in any Non-Serviced Companion Loan, Serviced Companion Loan or any mezzanine loan related to a Mortgage Loan by the
Master Servicer or the Special Servicer, as the case may be, or any Affiliate thereof; (c) the Master Servicer’s obligation
to make Advances; (d) the Master Servicer’s or the Special Servicer’s, as the case may be, right to receive

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compensation
for its services hereunder or with respect to any particular transaction; (e) the ownership, servicing or management for others
of any other mortgage loans or mortgaged properties by the Master Servicer or the Special Servicer or any Affiliate of the Master
Servicer or the Special Servicer, as applicable; (f) any debt that the Master Servicer or the Special Servicer or any Affiliate
of the Master Servicer or the Special Servicer, as applicable, has extended to any Borrower or an Affiliate of any Borrower (including,
without limitation, any mezzanine financing); and (g) any obligation of the Master Servicer or any Affiliate thereof, to repurchase
or substitute for a Mortgage Loan as Mortgage Loan Seller (if the Master Servicer or any Affiliate thereof is a Mortgage Loan Seller).

“Servicing
Transfer Event”: An event specified in the definition of Specially Serviced Loan.

“Significant
Obligor”: (a) Any obligor (as defined in Item 1101(i) of Regulation AB) or group of affiliated obligors on any Mortgage
Loan or group of Mortgage Loans that represent, as of the Closing Date, 10% or more of the Mortgage Pool (by principal balance
as of the Cut-off Date); or (b) any single Mortgaged Property or group of Mortgaged Properties securing any Mortgage Loan or group
of cross collateralized and/or cross defaulted Mortgage Loans that represent, as of the Closing Date, 10% or more of the Mortgage
Pool (by principal balance as of the Cut-off Date). The Mortgaged Property securing the Prudential Plaza Mortgage Loan constitutes
the only Significant Obligor related to the Trust.

“Significant
Obligor NOI Quarterly Filing Deadline”: With respect to each calendar quarter (other than the fourth calendar quarter
of any calendar year), the date that is fifteen (15) days after the Distribution Date occurring on or immediately following the
30th day after the end of such calendar quarter.

“Significant
Obligor NOI Yearly Filing Deadline”: With respect to each calendar year, the date that is the 90th day after the end
of such calendar year.

“Similar
Law”: As defined in Section 5.02(k) of this Agreement.

“Small Loan
Appraisal Estimate”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Loan Combination
having a Stated Principal Balance of less than $2,000,000, the Special Servicer’s good faith estimate of the value of the
Mortgaged Property securing such Mortgage Loan or Serviced Loan Combination, as certified to the Master Servicer by the Special
Servicer.

“Sole Certificateholder”:
Any Holder (or Holders, provided they act in unanimity) holding 100% of the then outstanding Certificates (including Certificates
with Certificate Balances that have been actually or notionally reduced by any Realized Losses or Appraisal Reduction Amounts,
but excluding the Class V, Class R and Class LR Certificates) or an assignment of the Voting Rights thereof; provided,
that the Class X-A, Class X-B and Class X-C Notional Amounts and Certificate Balances of the Class A-1, Class A-2, Class A-SB,
Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates have been reduced to zero;
provided, further, that if the Holders of the Class X-D, Class X-E and Class X-F Certificates have assigned all of
the Voting Rights of the Class X-D, Class X-E and

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Class X-F Certificates to the Holder of 100% of the then outstanding Class E,
Class F, Class G and Class H Certificates, then “Sole Certificateholder” shall mean the Holder of 100% of the
Class E, Class F, Class G and Class H Certificates.

“Special
Notice”: Any (a) notice transmitted to Certificateholders pursuant to Section 5.05(c) of this Agreement, (b) notice
of any request by at least 25% of the Voting Rights of the Certificates to terminate and replace the Special Servicer pursuant
to Section 3.22(d) of this Agreement, (c) notice of any request by at least 15% of the Voting Rights of the Certificates
to terminate and replace the Operating Advisor pursuant to Section 7.07(b) of this Agreement and (d) notice transmitted
to Certificateholders pursuant to Section 3.22(c) of this Agreement.

“Special
Servicer”: CWCapital Asset Management LLC, or its successor in interest, or any successor special servicer appointed
as provided herein (including with respect to any Excluded Special Servicer Mortgage Loan, if any, the related Excluded Special
Servicer appointed pursuant to Section 3.22(j) of this Agreement, as applicable and as the context may require).

“Special
Servicer Termination Event”: As defined in Section 7.01(b) of this Agreement.

“Special
Servicing Compensation”: With respect to any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Loan
Combination, any of the Special Servicing Fee, Workout Fee, Liquidation Fee and any other fees, charges or other amounts which
shall be due to the Special Servicer that are expressly provided for in Section 3.12 of this Agreement.

“Special
Servicing Fee”: With respect to each Specially Serviced Loan (or Serviced REO Loan) for each calendar month (or portion
thereof), the fraction of the Special Servicing Fee Rate applicable to such month, or portion thereof (determined using the same
interest accrual methodology that is applied with respect to the Mortgage Rate for such Mortgage Loan for such month) multiplied
by the Stated Principal Balance of such Specially Serviced Loan as of the Due Date (without giving effect to all payments of principal
on such Specially Serviced Loan or Serviced REO Loan on such Due Date) in the Collection Period prior to such Distribution Date
(or, in the event that a Principal Prepayment in full or an event described in clauses (i)-(vii) under the definition
of Liquidation Proceeds has occurred with respect to any such Specially Serviced Loan or Serviced REO Loan on a date that is not
a Due Date, on the basis of the actual number of days to elapse from and including the most recently preceding related Due Date
to but excluding the date of such Principal Prepayment or Liquidation Proceeds event in a month consisting of 30 days). For
the avoidance of doubt, the Special Servicing Fee shall be deemed to be paid from the Lower-Tier REMIC with respect to the Mortgage
Loans.

“Special
Servicing Fee Rate”: A rate equal to 0.25% per annum.

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“Specially Serviced
Loan”: Subject to Section 3.23 of this Agreement, any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Companion Loan with respect to which:

 

(a)        either
(i) with respect to such Mortgage Loan or Serviced Companion Loan, other than a Balloon Loan, a payment default shall have occurred
on such Mortgage Loan or Serviced Companion Loan at its Maturity Date or, if the Maturity Date of such Mortgage Loan or Serviced
Companion Loan has been extended in accordance herewith, a payment default occurs on such Mortgage Loan or Serviced Companion Loan
at its extended Maturity Date or (ii) with respect to a Balloon Loan, a payment default shall have occurred with respect to the
related Balloon Payment; provided, that if (A) the related Borrower is diligently seeking a refinancing commitment (and
delivers a statement to that effect to the Master Servicer, who shall promptly deliver a copy to the Special Servicer, the Operating
Advisor and the Directing Holder (but only if no Consultation Termination Event has occurred and is continuing) within 30 days
after such default), (B) the related Borrower continues to make its Assumed Scheduled Payment, (C) no other Servicing Transfer
Event shall have occurred with respect to such Mortgage Loan or Serviced Companion Loan and (D) for so long as no Control Termination
Event has occurred and is continuing, the Directing Holder consents, a Servicing Transfer Event will not occur until 60 days beyond
the related Maturity Date, unless extended by the Special Servicer in accordance with the Loan Documents, this Agreement and any
related Intercreditor Agreement; and provided, further, if the related Borrower delivers to the Master Servicer,
who shall have promptly delivered a copy to the Special Servicer, the Operating Advisor and the Directing Holder (but only if no
Consultation Termination Event has occurred and is continuing), on or before the 60th day after the related Maturity Date, a refinancing
commitment reasonably acceptable to the Special Servicer, and such Borrower continues to make its Assumed Scheduled Payments (and
no other Servicing Transfer Event shall have occurred with respect to that Mortgage Loan or Serviced Companion Loan), a Servicing
Transfer Event will not occur until the earlier of (1) 120 days beyond the related Maturity Date or extended Maturity Date and
(2) the termination of the refinancing commitment;

 

(b)        any
Monthly Payment (other than a Balloon Payment), or any amount due on a monthly basis as an Escrow Payment or reserve funds, is
60 days or more delinquent;

 

(c)        the
Master Servicer or Special Servicer (and, in the case of a determination by the Special Servicer, for so long as no Control Termination
Event has occurred and is continuing, with the consent of the Directing Holder and, with respect to any Serviced Loan Combination,
in consultation with the related Serviced Companion Loan Noteholders to the extent provided for in the related Intercreditor Agreement)
determines in its reasonable business judgment, exercised in accordance with the Servicing Standard, that (x) 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 (y) any other default that is likely to impair the use or marketability of the

 

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related Mortgaged Property or the value of the
Mortgaged Property as security for the Mortgage Loan or Serviced Companion Loan is reasonably foreseeable or there is a significant
risk of such default, which monetary or other default, in either case, would likely continue unremedied beyond the applicable grace
period (or, if no grace period is specified, for a period of 60 days) and is not likely to be cured by the related Borrower within
60 days or, except as provided in clause (a)(ii) above, in the case of a Balloon Payment, for at least 30 days;

 

(d)        the
related Borrower has become a subject of a decree or order of a court or agency or supervisory authority having jurisdiction in
the premises in an involuntary case under any present or future federal or state bankruptcy, insolvency or similar law, or the
appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities
or similar proceedings, or for the winding-up or liquidation of its affairs;

 

(e)        the
related Borrower consents to the appointment of a conservator or receiver or liquidator in any insolvency, readjustment of debt,
marshaling of assets and liabilities or similar proceedings of or relating to such Borrower of or relating to all or substantially
all of its property;

 

(f)         the
related Borrower admits in writing its inability to pay its debts generally as they become due, files a petition to take advantage
of any applicable insolvency or reorganization statute, makes an assignment for the benefit of its creditors, or voluntarily suspends
payment of its obligations;

 

(g)        a
default, of which the Master Servicer or Special Servicer has notice (other than a failure by such related Borrower to pay principal
or interest) and which in the opinion of the Master Servicer or Special Servicer (in the case of the Special Servicer, for so long
as no Control Termination Event has occurred and is continuing, with the consent of the Directing Holder and, with respect to any
Serviced Loan Combination, in consultation with the related Serviced Companion Loan Noteholders to the extent provided for in the
related Intercreditor Agreement) materially and adversely affects the interests of the Certificateholders or any holder of a Serviced
Companion Loan, if applicable, occurs and remains unremedied for the applicable grace period specified in the Loan Documents for
such Mortgage Loan or Serviced Companion Loan (or if no grace period is specified for those defaults which are capable of cure,
60 days); or

 

(h)        the
Master Servicer or Special Servicer receives notice of the foreclosure or proposed foreclosure of any lien on the related Mortgaged
Property;

 

provided, that such Mortgage
Loan or Serviced Companion Loan will cease to be a Specially Serviced Loan (each, a “Corrected Mortgage Loan”)
(i) with respect to the circumstances described in clauses (a) and (b) above, when the related Borrower thereunder has brought
such Mortgage Loan or Serviced Companion Loan current and thereafter made three consecutive full and timely Monthly Payments, including
pursuant to any workout of such Mortgage Loan or Serviced Companion Loan, (ii) with respect

 

    	-96-

    	 

    

 

to the circumstances described in clauses
(c), (d), (e), (f) and (h) above, when such circumstances cease to exist in the good faith judgment of the Special Servicer, or
(iii) with respect to the circumstances described in clause (g) above, when such default is cured (as determined by the Special
Servicer in accordance with the Servicing Standard) or waived by the Special Servicer; provided, in each case, that at that
time no circumstance exists (as described above) that would cause such Mortgage Loan or Serviced Companion Loan to continue to
be characterized as a Specially Serviced Loan.

 

If a Servicing
Transfer Event exists with respect to any Mortgage Loan included in a Serviced Loan Combination, then it will also be deemed to
exist with respect to the related Serviced Companion Loans, and vice versa.

 

The right
of the holder of any related Subordinate Companion Loan to cure an event of default under the related Intercreditor Agreement is
subject to the limitations set forth in such Intercreditor Agreement. Any such cure deposit by the holder of a Subordinate Companion
Loan shall be treated as an “outside reserve fund” for purposes of the REMIC Provisions, and the holder of such Subordinate
Companion Loan shall be treated as the beneficial owner thereof or of any reimbursement from the Trust Fund, and shall be taxable
on any reinvestment income thereon.

 

“Startup Day”:
In the case of the Upper-Tier REMIC and Lower-Tier REMIC, the day designated as such pursuant to Section 2.06(a) of this Agreement.

 

“Stated Principal
Balance”: With respect to any Mortgage Loan, Serviced Companion Loan or Serviced Loan Combination, as applicable, on
any date of determination, the principal balance as of the Cut-off Date of such Mortgage Loan, Serviced Companion Loan or Serviced
Loan Combination (or in the case of a Replacement Mortgage Loan, the outstanding principal balance as of the related date of substitution
and after application of all scheduled payments of principal and interest due on or before the related Due Date in the month of
substitution, whether or not received), as reduced (to not less than zero) on each Distribution Date by (i) all payments (or P&I
Advances in lieu thereof) of, and all other collections allocated as provided in Section 1.02 of this Agreement to, principal of
or with respect to such Mortgage Loan, Serviced Companion Loan or Serviced Loan Combination, as applicable, that are distributed
to Certificateholders on such Distribution Date or Serviced Companion Loan Noteholders on the related remittance date in the same
calendar month as such Distribution Date or applied to any other payments required under this Agreement or related Intercreditor
Agreement on or prior to such Distribution Date, and (ii) any principal forgiven by the Special Servicer (or with respect to a
Non-Serviced Mortgage Loan, by the related Other Special Servicer or other applicable servicer) and other principal losses realized
in respect of such Mortgage Loan, Serviced Companion Loan or Serviced Loan Combination during the related Collection Period (or
with respect to a Non-Serviced Mortgage Loan, other principal losses realized in respect of such Non-Serviced Mortgage Loan during
the related Collection Period as determined in accordance with the terms of the Other Pooling and Servicing Agreement).

 

A Mortgage Loan or any
related REO Loan shall be deemed to be part of the Trust Fund and to have an outstanding Stated Principal Balance until the Distribution
Date on

 

    	-97-

    	 

    

 

which
Liquidation Proceeds, if any, are to be (or, if no such Liquidation Proceeds are received, would have been) distributed to Certificateholders.
The Stated Principal Balance of any Mortgage Loan or Serviced Loan Combination with respect to which the Master Servicer or Special
Servicer has made a Final Recovery Determination is zero.

 

“Sub-Servicer”:
Any Person engaged by the Master Servicer or the Special Servicer (including, for the avoidance of doubt, each Mortgage Loan Seller
Sub-Servicer and any primary servicer) to perform servicing activities with respect to one or more Mortgage Loans or REO Loans.

 

“Sub-Servicing
Agreement”: The written contract between the Master Servicer or the Special Servicer, on the one hand, and any Sub-Servicer,
on the other hand, relating to servicing and administration of the Mortgage Loans as provided in Section 3.01(c) of this Agreement.

 

“Subcontractor”:
Any vendor, subcontractor or other Person that is not responsible for the overall servicing (as “servicing”
is commonly understood by participants in the mortgage-backed securities market) of Mortgage Loans but performs one or more discrete
functions identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans under the direction or authority of the Master
Servicer or a Servicing Function Participant.

 

“Subordinate
Companion Loan”: With respect to any Loan Combination, any related Serviced Subordinate Companion Loan or Non-Serviced
Subordinate Companion Loan, as applicable and as the context may require.

 

“Substitution
Shortfall Amount”: In connection with the substitution of one or more Replacement Mortgage Loans for one or more Removed
Mortgage Loans, the amount, if any, by which the Repurchase Price or aggregate Repurchase Price, as the case may be, for such Removed
Mortgage Loan(s) exceeds the initial Stated Principal Balance or aggregate initial Stated Principal Balance, as the case may be,
of such Replacement Mortgage Loan(s).

 

“Tax Returns”:
The federal income tax returns on IRS Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return, including
Schedule Q thereto, Quarterly Notice to Residual Interest Holders of REMIC Taxable Income or Net Loss Allocation, or any successor
forms, to be filed by the Certificate Administrator on behalf of each of the Upper-Tier REMIC and the Lower-Tier REMIC due to its
classification as a REMIC under the REMIC Provisions and the federal income tax return to be filed by the Certificate Administrator
on behalf of the Grantor Trust due to its classification as a grantor trust under subpart E, part I of subchapter J of the Code,
together with any and all other information, reports or returns that may be required to be furnished to the Certificateholders
or filed with the IRS or any other governmental taxing authority under any applicable provisions of federal law or Applicable State
and Local Tax Law.

 

“Terminated
Party”: As defined in Section 7.01(c) of this Agreement.

 

“Terminating
Party”: As defined in Section 7.01(c) of this Agreement.

 

    	-98-

    	 

    

 

“Termination
Date”: The Distribution Date on which the Trust Fund is terminated pursuant to Section 9.01 of this Agreement.

 

“Third Party
Appraiser”: A Person performing an Appraisal.

 

“Third Party
Reports”: With respect to any Mortgaged Property, the related Appraisal, Phase I environmental report, Phase II environmental
report, seismic report, engineering report, structural report, property condition report or similar report, if any.

 

“TIA”:
The Trust Indenture Act of 1939, as amended.

 

“TIA Applicability
Determination”: As defined in Section 11.13 of this Agreement.

 

“Transfer”:
Any direct or indirect transfer or other form of assignment of any Ownership Interest in a Class R or Class LR Certificate.

 

“Transferee
Affidavit”: As defined in Section 5.02(l)(ii) of this Agreement.

 

“Transferor
Letter”: As defined in Section 5.02(l)(ii) of this Agreement.

 

“Trust”
or “Trust Fund”: The corpus of the trust created hereby and to be administered hereunder, consisting of (in
each case, to the extent of the Trust Fund’s interest therein and specifically excluding any interest of any Serviced Companion
Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject to this Agreement, together with the Mortgage
Files relating thereto; (ii) all scheduled or unscheduled payments on or collections in respect of the Mortgage Loans due after
the Cut-off Date; (iii) the Trust Fund’s interest in any REO Property; (iv) all revenues received in respect of any REO Property;
(v) any Assignments of Leases, Rents and Profits and any security agreements related to the Mortgage Loans; (vi) any indemnities
or guaranties given as additional security for any Mortgage Loans; (vii) a security interest in all assets deposited in the Lock-Box
Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection
Account, the Serviced Loan Combination Collection Accounts, the Distribution Accounts, any Excess Liquidation Proceeds Account,
the Interest Reserve Account and the Trust’s interest in any REO Account, including any amounts on deposit therein, assets
credited thereto and any reinvestment income, as applicable; (x) a security interest in any environmental indemnity agreements
relating to the Mortgaged Properties; (xi) a security interest in all insurance policies with respect to the Mortgage Loans and
the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan Purchase Agreements relating to document delivery
requirements with respect to the Mortgage Loans and the representations and warranties of the related Mortgage Loan Seller regarding
its Mortgage Loans; (xiii) the Lower-Tier Regular Interests, and (xiv) the proceeds of the foregoing (other than any interest earned
on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest
belongs to the related Borrower).

 

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“Trust Ledger”:
Amounts deposited in the Collection Account or a Serviced Loan Combination Collection Account and attributable to the Mortgage
Loans or related Serviced Loan Combination, respectively, which are maintained pursuant to Section 3.06(a) and Section 3.06(b)
of this Agreement, as applicable, and held on behalf of the Trustee on behalf of the Certificateholders or held on behalf of the
Trustee on behalf of the Certificateholders and related Companion Loan Noteholders, as applicable.

 

“Trust REMICs”:
The Lower-Tier REMIC and the Upper-Tier REMIC.

 

“Trustee”:
Wilmington Trust, National Association, a national banking association, in its capacity as Trustee, or its successor in interest,
or any successor Trustee appointed as herein provided.

 

“Trustee/Certificate
Administrator Fee”: With respect to each Mortgage Loan and for any Distribution Date, an amount per Interest Accrual
Period equal to the product of (i) the Trustee/Certificate Administrator Fee Rate (adjusted to a monthly rate) multiplied by (ii)
the Stated Principal Balance of such Mortgage Loan as of the Due Date in the immediately preceding Collection Period (without giving
effect to payments of principal on such Mortgage Loan on such Due Date). The Trustee/Certificate Administrator Fee shall be calculated
in accordance with the provisions of Section 1.02(a) of this Agreement. For the avoidance of doubt, the Trustee/Certificate Administrator
Fee with respect to each Mortgage Loan shall be payable from the Lower-Tier REMIC.

 

“Trustee/Certificate
Administrator Fee Rate”: A rate equal to 0.0042% per annum.

 

“Underwriters”:
Deutsche Bank Securities Inc., Cantor Fitzgerald & Co., Jefferies LLC and CastleOak Securities, L.P. and their respective successors
in interest.

 

“Unliquidated
Advance”: Any Advance previously made by a party hereto that has been previously reimbursed, as between the Person that
made the Advance hereunder, on the one hand, and the Trust Fund, on the other, as part of a Workout-Delayed Reimbursement Amount
pursuant to Section 3.06(a) of this Agreement, as applicable, but that has not been recovered from the related Borrower or otherwise
from collections on or the proceeds of the Mortgage Loan or the applicable Serviced Loan Combination or Serviced REO Property in
respect of which the Advance was made.

 

“Unscheduled
Payments”: With respect to a Mortgage Loan and a Collection Period, all Net Liquidation Proceeds, Net Condemnation Proceeds
and Net Insurance Proceeds payable under such Mortgage Loan, the Repurchase Price of any Mortgage Loan that is repurchased or purchased
pursuant to Section 2.03(e), Section 3.16 or Section 9.01 of this Agreement, the Substitution Shortfall Amount with respect to
any substitution pursuant to Section 2.03(g) of this Agreement and any other payments under or with respect to such Mortgage Loan
not scheduled to be made, including Principal Prepayments received by the Master Servicer (but excluding Prepayment Premiums or
Yield Maintenance Charges, if any) during such Collection Period.

 

    	-100-

    	 

    

 

“Updated Appraisal”:
An Appraisal of a Mortgaged Property or Serviced REO Property, as the case may be, conducted subsequent to any appraisal performed
on or prior to the Cut-off Date and in accordance with Appraisal Institute standards, the costs of which shall be paid as a Property
Advance by the Master Servicer. Updated Appraisals shall be conducted by an Independent MAI appraiser selected by the Special Servicer.

 

“Updated Valuation”:
With respect to a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination having a Stated Principal
Balance of $2,000,000 or higher, an Updated Appraisal. With respect to a Mortgage Loan having a Stated Principal Balance of less
than $2,000,000, an updated Small Loan Appraisal Estimate or an Updated Appraisal.

 

“Upper-Tier
Distribution Account”: The segregated non-interest bearing trust account or sub-account created and maintained by the
Certificate Administrator pursuant to Section 3.05(f) of this Agreement, which shall be entitled “Wells Fargo Bank, National
Association, as Certificate Administrator, for the benefit of Wilmington Trust, National Association, as Trustee, for the benefit
of the Holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Upper-Tier Distribution Account”
and which must be an Eligible Account or a sub-account of an Eligible Account. The Upper-Tier Distribution Account shall be an
asset of the Upper-Tier REMIC.

 

“Upper-Tier
REMIC”: A segregated asset pool within the Trust Fund consisting of the Lower-Tier Regular Interests, the Upper-Tier
Distribution Account and amounts held therein from time to time.

 

“U.S. Person”:
A citizen or resident of the United States, a corporation, partnership (except to the extent provided in applicable Treasury Regulations),
or other entity 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, 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, certain trusts in existence
on August 20, 1996 that have elected to be treated as U.S. Persons).

 

“Voting Rights”:
The portion of the voting rights of all of the Certificates that is allocated to any Certificateholder or Class of Certificateholders.
At all times during the term of this Agreement, the percentage of Voting Rights assigned to each Class shall be: (a) 98% to be
allocated among the Certificateholders of the respective Classes of Sequential Pay Certificates in proportion to the Certificate
Balances of their Certificates, (b) 2% to be allocated among the Certificateholders of the Class X-A, Class X-B, Class X-C, Class
X-D, Class X-E and Class X-F Certificates (allocated to the Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class X-F
Certificates on a pro rata basis based on their respective outstanding Notional Amounts at the time of determination) and
(c) 0%, in the case of the Class V, Class R and Class LR Certificates. Voting Rights allocated to a Class of

 

    	-101-

    	 

    

 

Certificateholders
shall be allocated among such Certificateholders in proportion to the Percentage Interests in such Class evidenced by their respective
Certificates. Voting Rights allocated to a Class of Certificateholders shall be allocated among such Certificateholders in proportion
to the Percentage Interests in such Class evidenced by their respective Certificates.

 

“Weighted Average
Net Mortgage Pass-Through Rate”: With respect to any Distribution Date, a per annum rate equal to the fraction
(expressed as a percentage) the numerator of which is the sum for all Mortgage Loans of the product of (i) the Net Mortgage Pass-Through
Rate for each such Mortgage Loan as of its respective Due Date in the month preceding the month in which such Distribution Date
occurs and (ii) the Stated Principal Balance of each such Mortgage Loan as of the immediately preceding Distribution Date, and
the denominator of which is the sum of the Stated Principal Balances of all Mortgage Loans as of the immediately preceding Distribution
Date.

 

“WHFIT”:
A “Widely Held Fixed Investment Trust” as that term is defined in Treasury Regulations section 1.671-5(b)(22)
or successor provisions.

 

“WHFIT Regulations”:
Treasury Regulations section 1.671-5, as amended.

 

“WHMT”:
A “Widely Held Mortgage Trust” as that term is defined in Treasury Regulations Section 1.671-5(b)(23) or successor
provisions.

 

“Withheld Amount”:
With respect to each Mortgage Loan that accrues interest on an Actual/360 Basis, and with respect to each Distribution Date occurring
in January of each calendar year that is not a leap year and February of each calendar year, unless in either case such Distribution
Date is the final Distribution Date, an amount equal to one day’s interest at the Net Mortgage Pass-Through Rate on the respective
Stated Principal Balance as of the Due Date in the month preceding the month in which such Distribution Date occurs, to the extent
that a Monthly Payment or a P&I Advance is made in respect thereof.

 

The Withheld Amount for
each applicable Distribution Date for each Mortgage Loan that does not accrue interest on a 30/360 basis will be equal to 1/31
of the interest accrued in respect of the immediately preceding Due Date, to the extent a Monthly Payment or P&I Advance is
made in respect thereof.

 

“Workout-Delayed
Reimbursement Amounts”: With respect to any Mortgage Loan or, with respect to Property Advances, any Serviced Loan Combination
that includes a Serviced Pari Passu Companion Loan, the amount of any Advance made with respect to such Mortgage Loan or Serviced
Loan Combination on or before the date such Mortgage Loan or Serviced Loan Combination becomes (or, but for the making of three
monthly payments under its modified terms, would then constitute) a Corrected Mortgage Loan, together with (to the extent accrued
and unpaid) interest on such Advances, to the extent that (i) such Advance is not reimbursed to the Person who made such Advance
on or before the date, if any, on which such Mortgage Loan or Serviced Loan Combination becomes a Corrected Mortgage Loan and (ii)
the amount of such Advance becomes an obligation of the related Borrower to pay such amount under the terms of the modified Loan
Documents.

 

    	-102-

    	 

    

 

“Workout Fee”:
An amount equal to the lesser of (1) 1.0% of each collection of interest and principal (including scheduled payments, prepayments
(provided that a repurchase or substitution by a Mortgage Loan Seller of a Mortgage Loan due to a Material Defect or a Material
Breach shall not be considered a prepayment for purposes of this definition), Balloon Payments and payments at maturity, but excluding
late payment charges, Default Interest and Excess Interest) received on a Specially Serviced Loan that becomes a Corrected Mortgage
Loan for so long as it remains a Corrected Mortgage Loan, pursuant to Section 3.12(c) of this Agreement and (2) $1,000,000, in
the aggregate with respect to any particular workout of a Specially Serviced Loan; provided that the Workout Fee with respect
to any Corrected Mortgage Loan shall be capped in accordance with Section 3.12(c) of this Agreement; provided, further
that no Workout Fee shall be payable by the Trust with respect to any Corrected Mortgage Loan if and to the extent that the Corrected
Mortgage Loan became a Specially Serviced Loan under clause (c) of the definition of “Specially Serviced Loan” (and
no other clause of such definition) and no event of default actually occurs, unless the Mortgage Loan or Serviced Companion Loan
is modified by the Special Servicer in accordance with the terms of this Agreement; provided, further that if a Mortgage
Loan or Serviced Companion Loan becomes a Specially Serviced Loan only because of an event described in clause (a) of the definition
of “Specially Serviced Loan” and the related collection of principal and interest is received within 3 months
following the related maturity date as a result of the related Mortgage Loan or Serviced Companion Loan being refinanced or otherwise
repaid in full, the Special Servicer shall not be entitled to collect a Workout Fee out of the proceeds received in connection
with such workout if such fee would reduce the amount available for distributions to Certificateholders, but the Special Servicer
may collect from the related Borrower and retain (x) a workout fee, (y) such other fees as are provided for in the related Loan
Documents and (z) other appropriate fees in connection with such workout. The total amount of Workout Fees payable by the Trust
with respect to any Corrected Mortgage Loan and with respect to any particular workout (assuming, for the purposes of this calculation,
that such Corrected Mortgage Loan continues to perform throughout its term in accordance with the terms of the related workout)
shall be reduced by the amount of any and all related Offsetting Modification Fees received by the Special Servicer as additional
servicing compensation relating to such Corrected Mortgage Loan; provided that the Special Servicer shall be entitled to
collect such Workout Fees from the Trust until such time it has been fully paid such reduced amount. For the avoidance of doubt,
the Mortgage Loan Seller will be required to pay a Workout Fee in connection with a repurchase or substitution to the extent the
Special Servicer was entitled to such a fee and such fee was unpaid immediately prior to such repurchase or substitution or was
previously paid by the Trust and was not reimbursed by the related Borrower immediately prior to such repurchase or substitution.
In furtherance of the foregoing, upon a Specially Serviced Loan becoming a Corrected Mortgage Loan, the Special Servicer shall
provide the Master Servicer with a calculation of the total amount of Workout Fees expected to be payable by the Trust with respect
to such Corrected Mortgage Loan throughout its term (which calculation shall be reasonably acceptable to the Master Servicer) and
the total amount of related Offsetting Modification Fees received by the Special Servicer.

 

“Yield Maintenance
Charge”: With respect to any Mortgage Loan or Serviced Loan Combination, the yield maintenance charge set forth in the
related Loan Documents;

 

    	-103-

    	 

    

 

provided
that, amounts shall be considered Yield Maintenance Charges pursuant to the allocation set forth under Section 1.02(f)
or Section 1.02(g), as applicable.

 

Section 1.02          Certain
Calculations. Unless otherwise specified herein, the following provisions shall apply:

 

(a)        All
calculations of interest with respect to the Mortgage Loans and Serviced Companion Loans (other than the Actual/360 Mortgage Loans)
and of Advances in respect thereof provided for herein shall be made on the basis of a 360-day year consisting of twelve 30-day
months. All calculations of interest with respect to the Actual/360 Mortgage Loans and of Advances provided in respect thereof
provided for herein shall be made as set forth in the Loan Documents for such Mortgage Loans and, if applicable, Serviced Companion
Loans, with respect to the calculation of the related Mortgage Rate. The Servicing Fee, the Trustee/Certificate Administrator Fee,
the CREFC® License Fee and the Operating Advisor Fee for each Mortgage Loan or Serviced Loan Combination, as applicable,
shall accrue on the same basis as interest accrues on such Mortgage Loan or Serviced Loan Combination, as applicable.

 

(b)        Any
Mortgage Loan or Serviced Loan Combination payment is deemed to be received on the date such payment is actually received by the
Master Servicer or the Certificate Administrator; provided, that for purposes of calculating distributions on the Certificates,
Principal Prepayments with respect to any Mortgage Loan or Serviced Loan Combination are deemed to be received on the date they
are applied in accordance with Section 3.01(b) of this Agreement to reduce the Stated Principal Balance of such Mortgage Loan or
Serviced Loan Combination on which interest accrues.

 

(c)        Except
as otherwise provided in the related Loan Documents or Intercreditor Agreement, any amounts received in respect of a Mortgage Loan
or Serviced Loan Combination as to which a default has occurred and is continuing in excess of Monthly Payments shall be applied
to Default Interest and other amounts due on such Mortgage Loan or Serviced Loan Combination prior to the application to late fees.

 

(d)        Allocations
of payments between a Mortgage Loan and the related Serviced Companion Loan in a Loan Combination shall be made in accordance with
the related Intercreditor Agreement.

 

(e)        If
an expense under this Agreement relates in the reasonable judgment of the Master Servicer, the Special Servicer, the Certificate
Administrator, the Trustee or the Paying Agent, as applicable, primarily to the administration of the Trust Fund, either Trust
REMIC or the Grantor Trust 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, or Grantor Trust tax or expense or this Agreement states that any expense is
solely “an expense of the Trust Fund” or words of similar import, then such expense shall not be allocated to, deducted
or reimbursed from, or otherwise charged against any Serviced Companion Loan Noteholder and such Serviced Companion Loan Noteholder
shall not suffer any adverse consequences as a result of the payment of such expense.

 

    	-104-

    	 

    

 

(f)         All
amounts collected by or on behalf of the Trust in respect of any Mortgage Loan (other than an REO Loan) in the form of payments
from the related Borrower, Liquidation Proceeds, Condemnation Proceeds or Insurance Proceeds (exclusive, if applicable, in the
case of a Mortgage Loan that is part of a Serviced Loan Combination, of any amounts payable to the holder of the related Serviced
Companion Loan, pursuant to the related Intercreditor Agreement) shall be allocated to amounts due and owing under the related
Loan Documents (including for principal and accrued and unpaid interest) in accordance with the express provisions of the related
Loan Documents and, with respect to any Mortgage Loan that is part of a Serviced Loan Combination, the related Intercreditor Agreement;
provided, absent such express provisions, all such amounts collected (exclusive, if applicable, in the case of a Mortgage
Loan that is part of a Serviced Loan Combination, of any amounts payable to the holder of the related Serviced Companion Loan pursuant
to the related Intercreditor Agreement) shall be deemed to be allocated for purposes of collecting amounts due under the Mortgage
Loan in the following order of priority:

 

(i)         as
a recovery of any unreimbursed Advances with respect to such Mortgage Loan and unpaid interest at the Advance Rate on such Advances
and, if applicable, unreimbursed and unpaid Additional Trust Fund Expenses with respect to such Mortgage Loan;

 

(ii)        as
a recovery of Nonrecoverable Advances and any interest at the Advance Rate thereon to the extent previously reimbursed from and
allocated to principal collections with respect to such Mortgage Loan;

 

(iii)        to
the extent not previously allocated pursuant to clause (i) above, as a recovery of accrued and unpaid interest on such Mortgage
Loan (exclusive of Default Interest and Excess Interest) to the extent of the excess of (A) accrued and unpaid interest on such
Mortgage Loan at the related Mortgage Rate to, but not including, the Due Date in the Collection Period in which such collections
were received, over (B) the cumulative amount of the reductions (if any) in the amount of related P&I Advances for such Mortgage
Loan that have theretofore occurred under Section 4.07(d) of this Agreement in connection with Appraisal Reduction Amounts (to
the extent that collections have not been allocated as a recovery of accrued and unpaid interest pursuant to clause (v) below on
earlier dates);

 

(iv)       to
the extent not previously allocated pursuant to clause (i) above, as a recovery of principal of such Mortgage Loan then due and
owing, including by reason of acceleration of such Mortgage Loan following a default thereunder (or, if such Mortgage Loan has
been liquidated, as a recovery of principal to the extent of its entire remaining unpaid principal balance);

 

(v)        as
a recovery of accrued and unpaid interest on such Mortgage Loan to the extent of the cumulative amount of the reductions (if any)
in the amount of related P&I Advances for such Mortgage Loan that have theretofore occurred under Section 4.07(d) of this Agreement
in connection with related Appraisal Reduction

 

    	-105-

    	 

    

 

Amounts (to the extent that collections have not been allocated as recovery of accrued
and unpaid interest pursuant to this clause (v) on earlier dates);

 

(vi)       as
a recovery of amounts to be currently allocated to the payment of, or escrowed for the future payment of, real estate taxes, assessments
and insurance premiums and similar items relating to such Mortgage Loan;

 

(vii)      as
a recovery of any other reserves to the extent then required to be held in escrow with respect to such Mortgage Loan;

 

(viii)     as
a recovery of any Yield Maintenance Charge or Prepayment Premium then due and owing under such Mortgage Loan;

 

(ix)        as
a recovery of any late payment charges, Default Interest and Excess Interest then due and owing under such Mortgage Loan;

 

(x)         as
a recovery of any Assumption Fees and Modification Fees then due and owing under such Mortgage Loan;

 

(xi)        as
a recovery of any other amounts then due and owing under such Mortgage Loan other than remaining unpaid principal (if both consent
fees and Operating Advisor Consulting Fees are due and owing, first, allocated to consent fees and then, allocated
to Operating Advisor Consulting Fees); and

 

(xii)       as
a recovery of any remaining principal of such Mortgage Loan to the extent of its entire remaining unpaid principal balance.

 

provided that,
to the extent required under the REMIC Provisions, payments or proceeds received (or receivable by exercise of the Lender’s
rights under the related Loan Documents) with respect to any partial release of a Mortgaged Property (including in connection with
a condemnation and Mortgaged Property not assigned any significant value when the Mortgage Loan was originated) at a time when
the loan-to-value ratio of the related Mortgage Loan (or Serviced Loan Combination) exceeds 125% or would exceed 125% following
any partial release (based solely on the value of real property and excluding personal property and going concern value, if any)
must be collected and allocated to reduce the Stated Principal Balance of the Mortgage Loan (or Serviced Loan Combination) in the
manner permitted by such REMIC Provisions.

 

(g)        Collections
by or on behalf of the Trust in respect of any REO Property (exclusive of amounts to be allocated to the payment of the costs of
operating, managing, leasing, maintaining and disposing of such REO Property and, if applicable, in the case of an REO Property
related to a Serviced Loan Combination, exclusive of any amounts payable to the holder of the related Serviced Companion Loan pursuant
to the related Intercreditor Agreement) shall be deemed to be allocated for purposes of collecting amounts due under the Mortgage
Loan in the following order of priority:

 

(i)         as
a recovery of any unreimbursed Advances with respect to the related Mortgage Loan and interest at the Advance Rate on all Advances
and, if applicable,

 

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unreimbursed and unpaid Additional Trust Fund Expenses with respect to such Mortgage Loan;

 

(ii)        as
a recovery of Nonrecoverable Advances and any interest at the Advance Rate thereon to the extent previously reimbursed from and
allocated to principal collections with respect to the related Mortgage Loan;

 

(iii)        to
the extent not previously allocated pursuant to clause (i) above, as a recovery of accrued and unpaid interest on the related Mortgage
Loan (exclusive of Default Interest and Excess Interest) to the extent of the excess of (A) accrued and unpaid interest on such
Mortgage Loan at the related Mortgage Rate to, but not including, the Due Date in the Collection Period in which such collections
were received, over (B) the cumulative amount of the reductions (if any) in the amount of related P&I Advances for such Mortgage
Loan that have theretofore occurred under Section 4.07(d) of this Agreement in connection with Appraisal Reduction Amounts (to
the extent that collections have not been allocated as a recovery of accrued and unpaid interest pursuant to clause (v) below on
earlier dates);

 

(iv)       to
the extent not previously allocated pursuant to clause (i) above, as a recovery of principal of the related Mortgage Loan to the
extent of its entire unpaid principal balance;

 

(v)        as
a recovery of accrued and unpaid interest on the related Mortgage Loan to the extent of the cumulative amount of the reductions
(if any) in the amount of related P&I Advances for such Mortgage Loan that have theretofore occurred under Section 4.07(d)
of this Agreement in connection with related Appraisal Reduction Amounts (to the extent that collections have not theretofore been
allocated as a recovery of accrued and unpaid interest pursuant to this clause (v) on earlier dates);

 

(vi)       as
a recovery of any Yield Maintenance Charge or Prepayment Premium then due and owing under the related Mortgage Loan;

 

(vii)      as
a recovery of any late payment charges, Default Interest and Excess Interest then due and owing under the related Mortgage Loan;

 

(viii)     as
a recovery of any Assumption Fees and Modification Fees then due and owing under the related Mortgage Loan; and

 

(ix)        as
a recovery of any other amounts then due and owing under the related Mortgage Loan other than remaining unpaid principal (if both
consent fees and Operating Advisor Consulting Fees are due and owing, first, allocated to consent fees and then,
allocated to Operating Advisor Consulting Fees).

 

(h)        The
applications of amounts received in respect of any Mortgage Loan pursuant to paragraph (f) of this Section 1.02 shall be determined
by the Master Servicer in accordance with the Servicing Standard. The applications of amounts received in respect of any Mortgage
Loan, or any REO Property pursuant to paragraph (g) of this Section 1.02 shall be determined by the Special Servicer in accordance
with the Servicing Standard.

 

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(i)         All
net present value calculations and determinations made hereunder with respect to the Mortgage Loans or a Mortgaged Property or
REO Property (including for purposes of the definition of “Servicing Standard”) shall be made in accordance
with the Loan Documents or, if the Loan Documents are silent, using the Calculation Rate.

 

(j)         For
purposes of calculations required herein, Excess Interest shall not be added to the outstanding principal balance of the Mortgage
Loans notwithstanding that the related loan documents may provide otherwise.

 

Section 1.03          Certain
Constructions. For purposes of this Agreement, references to the most or next most subordinate Class of Certificates outstanding
at any time shall mean the most or next most subordinate Class of Certificates then outstanding as among the Class A-1, Class
A-2, Class A-SB, Class A-3, Class A-4, Class A-M, Class B, Class C, Class D, Class E, Class F, Class G and Class H Certificates.
For such purposes, the Class A-1, Class A-2, Class A-SB, Class A-3 and Class A-4 Certificates, collectively, shall be considered
to be one Class. For purposes of this Agreement, each Class of Certificates (other than any Class of Class X Certificates, the
Class V Certificates, the Class R Certificates and the Class LR Certificates) shall be deemed to be outstanding only to the extent
its respective Certificate Balance has not been reduced to zero. For purposes of this Agreement, the Class V Certificates shall
be outstanding so long as any of the ARD Loans are outstanding. For purposes of this Agreement, the Class R and Class LR Certificates
shall be outstanding so long as the Trust Fund has not been terminated pursuant to Section 9.01 of this Agreement or any other
Class of Certificates remains outstanding. For purposes of this Agreement, each of Class of Class X Certificates shall be deemed
to be outstanding until its applicable Notional Balance has been reduced to zero.

 

Notwithstanding anything
to the contrary contained herein, for purposes of this Agreement, each reference to any action by the Master Servicer or Special
Servicer that is subject to the consent or approval of the Directing Holder shall in each case be further subject to the determination
by the Master Servicer or Special Servicer that taking or refraining from taking the action as proposed by the Directing Holder,
or not taking such action as proposed by the Master Servicer or Special Servicer if the Directing Holder fails to grant its consent
or approval to any action proposed to be taken by the Master Servicer or Special Servicer, in each case, is consistent with the
Servicing Standard. In each case, (a) if the response by the Directing Holder hereunder is inconsistent with the Servicing Standard,
the Master Servicer or the Special Servicer shall take such action as is consistent with the Servicing Standard, and (b) if the
Master Servicer or Special Servicer determines that immediate action is necessary to protect the interests of the Certificateholder
and, in the case of any Serviced Loan Combination, the related Serviced Companion Loan Noteholders, (as a collective whole as if
such Certificateholders and Serviced Companion Loan Noteholders, as applicable, constituted a single lender (and with respect to
any Serviced Loan Combination with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate
Companion Loan)) and has made a reasonable effort to contact the Directing Holder, it may take such action without waiting for
a response from the Directing Holder.

 

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Section 1.04          Certain
Matters Relating to the Non-Serviced Mortgage Loan. Each Other Servicer, Other Special Servicer, Other Depositor, Other Operating
Advisor and Other Trustee, and any of their respective directors, officers, employees or agents (collectively, the “Other
Indemnified Parties”), shall be indemnified by the Trust and held harmless against the Trust’s pro rata
share (subject to the related Intercreditor Agreement) of any and all claims, losses, damages, penalties, fines, forfeitures,
reasonable legal fees and related costs, judgments and any other costs, liabilities, fees and expenses incurred in connection
with servicing and administration of or any actual or threatened legal action or claim relating to the related Non-Serviced Mortgage
Loan under the related Other Pooling and Servicing Agreement, this Agreement or the related Intercreditor Agreement (but excluding
any such losses allocable to the related Companion Loans); provided that such indemnification will not extend to any losses,
liabilities, costs or expenses: (i) specifically required to be borne by such party, without right of reimbursement, pursuant
to the terms of the related Other Pooling and Servicing Agreement; (ii) incurred in connection with any legal action or claim
against such party resulting from any breach of a representation or warranty made by such person under the related Other Pooling
and Servicing Agreement or (iii) incurred in connection with any legal action or claim against such party resulting from any willful
misfeasance, bad faith or negligence in the performance of such person’s obligations and duties under the related Other
Pooling and Servicing Agreement or the related Intercreditor Agreement or resulting from negligent disregard of such obligations
and duties.

 

In connection with the
securitization of any Serviced Companion Loan while it is a Serviced Companion Loan, upon the request of (and at the expense of)
the related Companion Loan Noteholders, each of the Master Servicer, the Special Servicer, the Certificate Administrator and the
Trustee, as applicable, shall use reasonable efforts to cooperate with such Companion Loan Noteholders in attempting to cause the
related Borrower to provide information relating to the related Serviced Loan Combination and the related notes, and that such
holders reasonably determine to be necessary or appropriate, for inclusion in any disclosure document(s) relating to such Other
Securitization.

 

Upon receipt of notice
from the applicable Mortgage Loan Seller that the applicable Servicing Shift Lead Note has been or is being securitized on the
related Servicing Shift Lead Note Securitization Date, the Master Servicer shall provide the Custodian with a Request for Release
of the Mortgage File on the related Servicing Shift Lead Note Securitization Date and transfer (and cooperate with reasonable requests
in connection with such transfer of) the Servicing File to the related Other Servicer identified to it pursuant to the related
notice from the related Mortgage Loan Seller on the related Servicing Shift Lead Note Securitization Date.

 

Article
II

CONVEYANCE OF MORTGAGE LOANS;

ORIGINAL ISSUANCE OF CERTIFICATES

 

Section 2.01          Conveyance
of Mortgage Loans; Assignment of Mortgage Loan Purchase Agreements. (a) The Depositor, concurrently with the execution and delivery
hereof

 

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on
the Closing Date, does hereby establish a trust designated as “COMM 2015-CCRE26 Mortgage Trust,” appoint the Trustee
as trustee of the Trust Fund and sell, transfer, assign, set over and otherwise convey to the Trustee without recourse (except
to the extent herein provided) all the right, title and interest of the Depositor in and to the Mortgage Loans, including all
rights to payment in respect thereof, except as set forth below, and any security interest thereunder (whether in real or personal
property and whether tangible or intangible) in favor of the Depositor, and a security interest in all Reserve Accounts, Lock-Box
Accounts, Cash Collateral Accounts, $100 to be deposited in the Upper-Tier Distribution Account in respect of the Class X-B Certificates
and all other assets to the extent included or to be included in the Trust Fund for the benefit of the Certificateholders. Such
transfer and assignment includes all interest and principal due on or with respect to the Mortgage Loans after the Cut-off Date
and, in the case of a Mortgage Loan included in a Loan Combination, is subject to the related Intercreditor Agreement. Transfer
and assignment of a Non-Serviced Mortgage Loan and the right to service a Non-Serviced Mortgage Loan is further subject to the
terms and conditions of the Other Pooling and Servicing Agreement and the related Intercreditor Agreement. The Depositor, concurrently
with the execution and delivery hereof, does also hereby transfer, assign, set over and otherwise convey to the Trustee without
recourse (except to the extent provided herein), for the benefit of the Certificateholders and the Serviced Companion Loan Noteholders,
all the right, title and interest of the Depositor in, to and under the Mortgage Loan Purchase Agreements as provided therein
(excluding Sections 6(e)-(g) of each Mortgage Loan Purchase Agreement, the representations, warranties and covenants in favor
of the Depositor set forth in clause (viii) of Section 4(b) of each Mortgage Loan Purchase Agreement and the Depositor’s
rights and remedies with respect to a breach thereof, and excluding the Depositor’s rights and remedies under the Indemnification
Agreements) to the extent related to any Mortgage Loan. The Depositor shall cause the Reserve Accounts, Cash Collateral Accounts
and Lock-Box Accounts relating to the Mortgage Loans to be transferred to and held in the name of the Master Servicer on behalf
of the Trustee as successor to the Mortgage Loan Sellers.

 

With respect to any Mortgage
Loan that is subject to an Intercreditor Agreement, the parties hereto intend that the provisions of this Section 2.01(a) serve
as an assignment and assumption agreement between the Depositor, as the assignor, and the Trustee on behalf of the Trust, as the
assignee. Accordingly, the Depositor hereby (and in accordance with and subject to all other applicable provisions of this Agreement)
assigns, grants, sells, transfers, delivers, sets over, and conveys to the Trustee all right, title and interest of the Depositor
in, to and arising out of the related Intercreditor Agreement and the Trustee on behalf of the Trust hereby accepts (subject to
applicable provisions of this Agreement) the foregoing assignment and assumes all of the rights and obligations of the Depositor
with respect to related Intercreditor Agreement from and after the Closing Date. In addition, the Trustee acknowledges that any
such Mortgage Loan that is a Serviced Mortgage Loan shall be serviced pursuant to the terms of this Agreement.

 

    	-110-

    	 

    

 

In connection with such
transfer and assignment, the Depositor does hereby deliver to, and deposit with, the Custodian, with copies to the Master Servicer
and the Special Servicer, the following documents or instruments with respect to each Mortgage Loan and each Serviced Companion
Loan (which, except for the Note referred to in clause (i) below, relate to the Serviced Loan Combination) so assigned (provided,
the original of documents specified in items (xix) and (xx) shall be delivered to the Master Servicer):

 

(i)          (A)
the original Note, bearing, or accompanied by, all prior or intervening endorsements, endorsed by the most recent endorsee prior
to the Trustee or, if none, by the Originator, without recourse, either in blank or to the order of the Trustee in the following
form: “Pay to the order of Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of COMM 2015-CCRE26
Mortgage Trust Commercial Mortgage Pass-Through Certificates, without recourse”; and (B) in the case of each related Serviced
Companion Loan, a copy of the executed Note for such Serviced Companion Loan;

 

(ii)         the
original (or a copy thereof certified from the applicable recording office) of the Mortgage and, if applicable, the originals (or
copies thereof certified from the applicable recording office) of any intervening assignments thereof showing a complete chain
of assignment from the Originator of the Mortgage Loan or Serviced Loan Combination to the most recent assignee of record thereof
prior to the Trustee, if any, in each case with evidence of recording indicated thereon;

 

(iii)       an
original or copy (if the related Mortgage Loan Seller or its designee, rather than the Custodian and its designee, is responsible
for the recording thereof) of an Assignment of the Mortgage, in recordable form (except for missing recording information and,
if delivered in blank, except for the name of the assignee), executed by the most recent assignee of record thereof prior to the
Trustee or, if none, by the Originator, either in blank or in favor of the Trustee in the following form: “Wilmington Trust,
National Association, as Trustee, for the benefit of the Holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through
Certificates” (and, with respect to any Serviced Loan Combination, on behalf of any related Serviced Companion Loan Noteholders);

 

(iv)       (A)
an original or copy of any related security agreement (if such item is a document separate from the Mortgage) and, if applicable,
the originals or copies of any intervening assignments thereof showing a complete chain of assignment from the Originator of the
related Mortgage Loan or Serviced Loan Combination to the most recent assignee thereof prior to the Trustee, if any; and (B) an
original assignment of any related security agreement (if such item is a document separate from the related Mortgage) executed
by the most recent assignee thereof prior to the Trustee or, if none, by the Originator, either in blank or in favor of the Trustee
in the following form: “Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of COMM 2015-CCRE26
Mortgage Trust Commercial Mortgage Pass-Through Certificates” (in such capacity and, with respect to any Serviced Loan Combination,
on behalf of any related Serviced Companion Loan Noteholders), which assignment may be

 

    	-111-

    	 

    

 

included as part of the corresponding Assignment
of Mortgage referred to in clause (iii) above;

 

(v)        (A)
stamped or certified copies of any UCC financing statements and continuation statements which were filed in order to perfect (and
maintain the perfection of) any security interest held by the Originator of the Mortgage Loan or Serviced Loan Combination (and
each assignee of record prior to the Trustee) in and to the personalty of the Borrower at the Mortgaged Property (in each case
with evidence of filing or recording thereon) and which were in the possession of the related Mortgage Loan Seller (or its agent)
at the time the Mortgage Files were delivered to the Custodian, together with original UCC-3 assignments of financing statements
showing a complete chain of assignment from the secured party named in such UCC-1 financing statement to the most recent assignee
of record thereof prior to the Trustee, if any, and (B) if any such security interest is perfected and the earlier UCC financing
statements and continuation statements were in the possession of the related Mortgage Loan Seller, an assignment of UCC financing
statement by the most recent assignee of record prior to the Trustee or, if none, by the Originator, evidencing the transfer of
such security interest, either in blank or in favor of the Trustee in the following form: “Wilmington Trust, National Association,
as Trustee, for the benefit of the Holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates”
(in such capacity and, with respect to any Serviced Loan Combination, on behalf of any related Serviced Companion Loan Noteholders);
provided that other evidence of filing or recording reasonably acceptable to the Trustee may be delivered in lieu of delivering
such UCC financing statements including, without limitation, evidence of such filed or recorded UCC Financing Statement as shown
on a written UCC search report from a reputable search firm, such as CSC/LexisNexis Document Solutions, Corporation Service Company,
CT Corporation System and the like or printouts of on-line confirmations from such UCC filing or recording offices or authorized
agents thereof;

 

(vi)       the
original or a copy of the Loan Agreement relating to such Mortgage Loan or Serviced Loan Combination, if any;

 

(vii)      the
original or a copy of the lender’s title insurance policy issued in connection with the origination of the Mortgage Loan
or Serviced Loan Combination, together with all endorsements or riders (or copies thereof) that were issued with or subsequent
to the issuance of such policy, insuring the priority of the Mortgage as a first lien on the Mortgaged Property, or, subject to
Section 2(d) of the applicable Mortgage Loan Purchase Agreement, a “marked up” commitment to insure marked as binding
and countersigned by the related insurer or its authorized agent (which may be a pro forma or specimen title insurance policy
which has been accepted or approved as binding in writing by the related title insurance company), or, subject to Section 2(d)
of the applicable Mortgage Loan Purchase Agreement, an agreement to provide the same pursuant to binding escrow instructions executed
by an authorized representative of the title company;

 

    	-112-

    	 

    

 

(viii)     (A)
the original or a copy of the related Assignment of Leases, Rents and Profits (if such item is a document separate from the Mortgage)
and, if applicable, the originals or copies of any intervening assignments thereof showing a complete chain of assignment from
the Originator of the Mortgage Loan or Serviced Loan Combination to the most recent assignee of record thereof prior to the Trustee,
if any, in each case with evidence of recording thereon; and (B) an original or copy (if the related Mortgage Loan Seller or its
designee, rather than the Custodian and its designee, is responsible for the recording thereof) of an assignment of any related
Assignment of Leases, Rents and Profits (a “Reassignment of Assignment of Leases, Rents and Profits”) (if such
item is a document separate from the Mortgage), in recordable form (except for missing recording information and, if delivered
in blank, except for the name of the assignee), executed by the most recent assignee of record thereof prior to the Trustee or,
if none, by the Originator, either in blank or in favor of the Trustee in the following form: “Wilmington Trust, National
Association, as Trustee, for the benefit of the Holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates”
(in such capacity and, with respect to any Serviced Loan Combination, on behalf of any related Serviced Companion Loan Noteholders),
which assignment may be included as part of the corresponding Assignment of Mortgage referred to in clause (iii) above;

 

(ix)        the
original or a copy of any environmental indemnity agreements and copies of any environmental insurance policies pertaining to the
related Mortgaged Property required in connection with origination of the related Mortgage Loan or Serviced Loan Combination and
copies of Environmental Reports;

 

(x)         copies
of the currently effective Management Agreements, if any, for the Mortgaged Properties;

 

(xi)        if
the Borrower has a leasehold interest in the related Mortgaged Property, the original or copy of the ground lease (or, with respect
to a leasehold interest where the Borrower is the lessee or the sublessee and that is a space lease or an air rights lease, the
original of such space lease or air rights lease), and any related lessor estoppel or similar agreement or a copy thereof; if any;

 

(xii)       if
the related assignment of contracts is separate from the Mortgage, the original executed version of such assignment of contracts
and the assignment thereof, if any, to the Trustee;

 

(xiii)      if
any related Lock-Box Agreement or Cash Collateral Account Agreement is separate from the Mortgage or Loan Agreement, a copy thereof;
with respect to the Reserve Accounts, Cash Collateral Accounts and Lock-Box Accounts, if any, a stamped or certified copy of the
UCC-1 financing statements, if any, submitted for filing with respect to the related mortgagee’s security interest in the
Reserve Accounts, Cash Collateral Accounts and Lock-Box Accounts and all funds contained therein (and UCC-3 assignments of financing
statements assigning such UCC-1 financing statements to the Trustee in the following form: “Wilmington Trust, National

 

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Association,
as Trustee, for the benefit of the Holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates”
(in such capacity and, with respect to any Serviced Loan Combination, on behalf of any related Serviced Companion Loan Noteholders));

 

(xiv)     originals
or copies of all assumption, modification, written assurance and substitution agreements, if any, with evidence of recording thereon
if appropriate, in those instances where the terms or provisions of the Mortgage, the Note or any related security document have
been modified or the Mortgage Loan or Serviced Loan Combination has been assumed;

 

(xv)       the
original or a copy of any guaranty of the obligations of the Borrower under the Mortgage Loan or Serviced Loan Combination together
with, as applicable, (A) the original or copies of any intervening assignments of such guaranty showing a complete chain of assignment
from the Originator of the Mortgage Loan or Serviced Loan Combination to the most recent assignee thereof prior to the Trustee,
if any, and (B) an original assignment of such guaranty executed by the most recent assignee thereof prior to the Trustee or, if
none, by the Originator;

 

(xvi)      the
original or a copy of the power of attorney (with evidence of recording thereon, if appropriate) granted by the related Borrower
if the Mortgage, Note or other document or instrument referred to above was signed on behalf of the Borrower pursuant to such power
of attorney;

 

(xvii)     with
respect to each Loan Combination, a copy of the related Intercreditor Agreement and, if applicable, a copy of the related Other
Pooling and Servicing Agreement;

 

(xviii)    with
respect to hospitality properties, a copy of the franchise agreement, if any, an original or copy of the comfort letter, if any,
and if, pursuant to the terms of such comfort letter, the general assignment of the Mortgage Loan is not sufficient to transfer
or assign the benefits of such comfort letter to the Trust, a copy of the notice to the franchisor of the transfer of such Mortgage
Loan or Serviced Loan Combination and/or a copy of the request for the issuance of a new comfort letter in favor of the Trust (in
each case, as and to the extent required pursuant to the terms of such comfort letter);

 

(xix)      the
original (or copy, if the original is held by the Master Servicer or applicable Other Servicer pursuant to Section 2.01(c))
of any letter of credit held by the lender as beneficiary or assigned as security for such Mortgage Loan;

 

(xx)       the
appropriate assignment or amendment documentation related to the assignment to the Trust of any letter of credit securing such
Mortgage Loan (or copy thereof, if the original is held by the Master Servicer or applicable Other Servicer pursuant to Section
2.01(c)) which entitles the Master Servicer on behalf of the Trust to draw thereon; and

 

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(xxi)      with
respect to any Mortgage Loan with related mezzanine debt or other subordinate debt (other than a Companion Loan), a co-lender agreement,
a subordination agreement or other intercreditor agreement,

 

provided that the original
assignments referred to in clauses (iii), (iv)(B), (viii)(B) and (xv)(B), may be in the form of one or more instruments in recordable
form in any applicable filing or recording offices.

 

Notwithstanding anything
to the contrary contained in this Section 2.01(a), (b) or (c) or in Section 2.02, in connection with a Servicing Shift Loan Combination
(1) instruments of assignment to the Trustee may be in blank and need not be recorded pursuant to this Agreement (other than the
endorsements to the Note(s) evidencing the related Servicing Shift Mortgage Loan) until the earlier of (i) the related Servicing
Shift Lead Note Securitization Date, in which case such instruments shall be assigned and recorded in accordance with the related
Other Pooling and Servicing Agreement, and (ii) such Servicing Shift Loan Combination becoming a Specially Serviced Loan prior
to such Servicing Shift Lead Note Securitization Date, in which case assignments and recordations shall be effected in accordance
with this Section 2.01(a) until the occurrence, if any, of such Servicing Shift Lead Note Securitization Date, (2) no letter of
credit need be amended (including, without limitation, to change the beneficiary thereon) until the earlier of (i) the related
Servicing Shift Lead Note Securitization Date, in which case such amendment shall be in accordance with the related Other Pooling
and Servicing Agreement and (ii) such Servicing Shift Loan Combination becoming a Specially Serviced Loan prior to such Servicing
Shift Lead Note Securitization Date in which case such amendment shall be effected in accordance with the terms of this Section
2.01, and (3) on and following such Servicing Shift Lead Note Securitization Date, the Person selling the related Servicing Shift
Lead Note to the related Other Depositor, at its own expense, shall be (a) entitled to direct in writing, which may be conclusively
relied upon by the Custodian, the Custodian to deliver the originals of all the Loan Documents relating to such Servicing Shift
Loan Combination in its possession (other than the original Note(s) evidencing such Servicing Shift Mortgage Loan) to the related
Other Trustee or the related Other Custodian, (b) if the right under clause (a) is exercised, required to cause the retention by
or delivery to the Custodian of photocopies of Loan Documents related to such Servicing Shift Loan Combination so delivered to
such Other Trustee or such Other Custodian, (c) entitled to cause the completion (or, in the event of a recordation as contemplated
by clause (1)(ii) of this paragraph, the preparation, execution and delivery) and recordation of instruments of assignment in the
name of the related Other Trustee or related Other Custodian, (d) if the right under clause (c) is exercised, required to deliver
to the Trustee or Custodian photocopies of any instruments of assignment so completed and recorded, and (e) entitled to require
the Master Servicer to transfer, and to cooperate with all reasonable requests in connection with the transfer of, the Servicing
File, and any Escrow Payments, reserve funds and items specified in clauses (xix) and (xx) of Section 2.01(a) for such Servicing
Shift Loan Combination to the related Other Servicer.

 

With respect to Serviced
Loan Combinations, except for the Note referred to in clause (i)(B) of the preceding paragraph, only a single original set of the
Loan Documents specified above is required to be delivered. With respect to a Non-Serviced Mortgage Loan,

 

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the
preceding document delivery requirements will be met by the delivery by the applicable Mortgage Loan Seller to the Custodian of
copies of the documents specified above (other than the Note and intervening endorsements evidencing a Non-Serviced Mortgage Loan,
with respect to which the originals shall be required), including a copy of the Mortgage securing the applicable Non-Serviced
Mortgage Loan and copies of the companion notes and any assignments or other transfer documents referred to in clause (i)(B) of
the preceding paragraph as being in favor of the Trustee shall instead be in favor of the applicable Other Trustee.

 

With respect to the Mortgage
Loans, within 45 days after the Closing Date or, without limiting the requirements of the second paragraph of Section 2.01(b),
after such later date on which the Mortgage Loan Seller has received all the missing recording/filing information, each Mortgage
Loan Seller will, or will at the expense of such Mortgage Loan Seller retain a third party vendor to, except in the case of any
Mortgage Loan that is a Non-Serviced Mortgage Loan, (1) complete (to the extent necessary) and submit for recording in favor of
the Trustee in the following form: “Wilmington Trust, National Association, as Trustee, for the benefit of the Holders of
COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates” (and with respect to a Serviced Loan Combination,
the related Serviced Companion Loan Noteholders) in the appropriate public recording office (a) each Assignment of Mortgage referred
to in Section 2.01(a)(iii) which has not yet been submitted for recording and (b) each Reassignment of Assignment of Leases, Rents
and Profits referred to in Section 2.01(a)(viii)(B) (if not otherwise included in the related Assignment of Mortgage) which has
not yet been submitted for recordation; and (2) complete (to the extent necessary) and file in the appropriate public filing office
each UCC assignment of financing statement referred to in Section 2.01(a)(v)(B) and (xiii) which has not yet been submitted for
filing or recording. Each such document shall reflect that the recorded original should be returned by the public recording office
to the Custodian or its designee (or to the Mortgage Loan Seller or its designee as an alternative) following recording, and each
such document shall reflect that the file copy thereof should be returned to the Custodian or its designee (or to the Mortgage
Loan Seller or its designee as an alternative) following filing; provided that in those instances where the public recording
office retains the original Assignment of Mortgage or Reassignment of Assignment of Leases, Rents and Profits, the Custodian shall
use commercially reasonable efforts to obtain therefrom a certified copy of the recorded original, at the expense of the Depositor.
In the event that any such document or instrument in respect of any Mortgage Loan is lost or returned unrecorded or unfiled, as
the case may be, because of a defect therein, the related Mortgage Loan Seller shall promptly prepare or cause the preparation
of a substitute thereof or cure or cause the curing of such defect, as the case may be, and shall thereafter deliver the substitute
or corrected document to or at the direction of the Custodian or such other third party vendor as retained by the Mortgage Loan
Seller for recording or filing, as appropriate, at such Mortgage Loan Seller’s expense (as set forth in the related Mortgage
Loan Purchase Agreement). In the event that any Mortgage Loan Seller receives the original recorded or filed copy, each Mortgage
Loan Seller will, promptly upon receipt of the original recorded or filed copy (and in no event later than five Business Days following
such receipt) deliver such original to the Custodian, with evidence of filing or recording thereon. Notwithstanding anything to
the contrary contained in this Section 2.01, in those instances where the public recording office retains the original Mortgage,
Assignment of Mortgage, Assignment of Leases, Rents and Profits or Reassignment of Assignment of Leases, Rents and Profits, if
applicable, after any has been recorded, the obligations of the related

 

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Mortgage
Loan Seller under the applicable Mortgage Loan Purchase Agreement shall be deemed to have been satisfied upon delivery to the
Custodian of a copy of the recorded original of such Mortgage, Assignment of Mortgage, Assignment of Leases, Rents and Profits
or Reassignment of Assignment of Leases, Rents and Profits, if applicable.

 

If a Mortgage Loan Seller
cannot deliver, or cause to be delivered, as to any Mortgage Loan, the original or a copy of the related lender’s title insurance
policy referred to in Section 2.01(a)(vii) solely because such policy has not yet been issued, the delivery requirements of this
Section 2.01 will be deemed to be satisfied as to such missing item, and such missing item will be deemed to have been included
in the related Mortgage File by delivery to the Custodian of a binder marked as binding and countersigned by the title insurer
or its authorized agent (which may be a pro forma or specimen title insurance policy which has been accepted or approved
as binding in writing by the related title insurance company) or an acknowledged closing instruction or escrow letter, and the
Mortgage Loan Seller will be required to deliver to the Custodian, promptly following the receipt thereof, the original related
lender’s title insurance policy (or a copy thereof). Copies of recorded or filed Assignments of Mortgage, Reassignments of
Assignment of Leases, Rents and Profits and UCC assignments of financing statements shall be held by the Custodian.

 

Subject to the third
preceding paragraph, all original documents relating to the Mortgage Loans which are not delivered to the Custodian are and shall
be held by the Depositor or the Master Servicer (or a sub-servicer on its behalf), as the case may be, in trust for the benefit
of the Certificateholders and, insofar as they also relate to the Serviced Companion Loans, on behalf of and for the benefit of
the related Serviced Companion Loan Noteholders. In the event that any such original document, or in the case of a Serviced Companion
Loan, the original Note, is required pursuant to the terms of this Section to be a part of a Mortgage File in order to effectuate
the purposes of this Agreement, such document shall be delivered promptly to the Custodian.

 

(b)        In
connection with the Depositor’s assignment pursuant to subsection (a) above, the Depositor shall direct, and hereby represents
and warrants that it has directed, each of the Mortgage Loan Sellers pursuant to the applicable Mortgage Loan Purchase Agreement
to deliver to and deposit with or cause to be delivered to and deposited with, (i) the Custodian, on or before the Closing Date,
for each Mortgage Loan so assigned the Note (or a copy of the Note evidencing each related Serviced Companion Loan), the original
or a copy of the related Mortgage, the original or a copy of the title policy for each Mortgage Loan (subject to the second-to-last
paragraph under Section 2.01(a)), a copy of the related ground lease (or, with respect to a leasehold interest where the Borrower
is a lessee with respect to a space lease or air rights, a copy of the related space lease or air rights lease), if applicable,
for each Mortgage Loan and an original (or copy, if the original is held by the Master Servicer pursuant to Section 2.01(c)) of
any letters of credit held by the lender as beneficiary or assigned as security for the Mortgage Loan, and, except as otherwise
provided in the following paragraph, within 30 days following the Closing Date, the remaining applicable documents referred to
in Section 2.01(a) for each such Mortgage Loan or Serviced Companion Loan, in each case with copies to the Master Servicer and
(ii) the Master Servicer, on or before the Closing Date, all documents and records that are part of each applicable Servicing File.
If the applicable Mortgage Loan Seller cannot deliver, or cause to be delivered, as to any Mortgage Loan, the

 

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original
Note, such Mortgage Loan Seller shall deliver a copy or duplicate original of such Note, together with an affidavit certifying
that the original thereof has been lost or destroyed and an indemnification in favor of the Certificate Administrator, the Trustee
and the Custodian.

 

If the applicable Mortgage
Loan Seller or the Depositor cannot deliver, or cause to be delivered, as to any Mortgage Loan (subject to any qualifications provided
for herein or in the related Mortgage Loan Purchase Agreement with respect to a Non-Serviced Mortgage Loan), the original or a
copy of any of the documents and/or instruments referred to in Section 2.01(a)(ii), Section 2.01(a)(iii), Section 2.01(a)(v), Section
2.01(a)(viii), Section 2.01(a)(xiv) and Section 2.01(a)(xvi) and the UCC financing statements and UCC assignments of financing
statements referred to in Section 2.01(a)(xiii), with evidence of recording or filing thereon, solely because of a delay caused
by the public recording or filing office where such document or instrument has been delivered for recordation or filing, or because
such original recorded or filed document has been lost or returned from the recording or filing office and subsequently lost, as
the case may be, the delivery requirements of Section 2.01 shall be deemed to have been satisfied as to such missing item, and
such missing item shall be deemed to have been included in the related Mortgage File, provided that a copy of such document
or instrument (without evidence of recording or filing thereon, but certified (which certificate may relate to multiple documents
and/or instruments) by the applicable public recording or filing office, the applicable title insurance company or the related
Mortgage Loan Seller to be a true and complete copy of the original thereof submitted for recording or filing, as the case may
be) has been delivered to the Custodian within 45 days after the Closing Date, and either the original of such missing document
or instrument, or a copy thereof, with evidence of recording or filing, as the case may be, thereon, is delivered to the Custodian
within 180 days after the Closing Date (or within such longer period after the Closing Date so long as the related Mortgage Loan
Seller has provided the Custodian with evidence of such recording or filing, as the case may be, or has certified to the Custodian
as to the occurrence of such recording or filing, as the case may be, and is, as certified to the Custodian no less often than
quarterly, in good faith attempting to obtain from the appropriate county recorder’s or filing office such original or copy,
provided such extensions do not exceed 24 months in the aggregate).

 

(c)        Notwithstanding
anything herein to the contrary, with respect to the documents referred to in Section 2.01(a)(xix) and Section 2.01(a)(xx) of this
Agreement, the Master Servicer shall hold (or the applicable Other Servicer with respect to any Non-Serviced Mortgage Loan will
hold) the original of each such document in trust on behalf of the Trust (or the applicable Other Trust with respect to any Non-Serviced
Mortgage Loan) in order to draw on such letter of credit on behalf of the Trust (or the applicable Other Trust with respect to
any Non-Serviced Mortgage Loan) and the applicable Mortgage Loan Seller shall be deemed to have satisfied the delivery requirements
of the related Mortgage Loan Purchase Agreement and this Section 2.01 of this Agreement by delivering the original of each such
document to the Master Servicer (or the applicable Other Servicer with respect to any Non-Serviced Mortgage Loan) who shall forward
a copy of the applicable document to the Custodian (or the custodian in the applicable Other Securitization with respect to any
Non-Serviced Mortgage Loan). The applicable Mortgage Loan Seller shall pay any costs of assignment or amendment of such letter
of credit (which amendment shall change the beneficiary of the letter of credit to the Trust (or the applicable Other Trust with
respect to any Non-Serviced Mortgage Loan) in

 

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care
of the Master Servicer (or the applicable Other Servicer with respect to any Non-Serviced Mortgage Loan)) required in order for
the Master Servicer (or the applicable Other Servicer with respect to any Non-Serviced Mortgage Loan) to draw on such letter of
credit on behalf of the Trust (or the applicable Other Trust with respect to any Non-Serviced Mortgage Loan). In the event that
the documents specified in Section 2.01(a)(xx) of this Agreement are missing with respect to any Mortgage Loan (other than a Non-Serviced
Mortgage Loans) because the related assignment or amendment documents have not been completed, the applicable Mortgage Loan Seller
shall take all necessary steps to enable the Master Servicer to draw on the related letter of credit on behalf of the Trust including,
if necessary, drawing on the letter of credit in its own name pursuant to written instructions from the Master Servicer and immediately
remitting such funds (or causing such funds to be remitted) to the Master Servicer.

 

(d)        With
respect to each Franchise Mortgage Loan, which are each subject to a franchise agreement with a related comfort letter in favor
of the respective Mortgage Loan Seller that requires notice to or request of the related franchisor to transfer or assign any related
comfort letter to the Trust or otherwise have a new comfort letter issued in the name of the Trust, the related Mortgage Loan Seller
or its designee will be required to provide any such required notice or make any such required request to the related franchisor,
with a copy of such notice or request to the Master Servicer, within 45 days of the Closing Date (or any shorter period if required
by the applicable comfort letter), notify the related franchisor that such Mortgage Loan has been transferred to the Trust and
request a replacement comfort letter (or any such new document or acknowledgement as may be contemplated under the existing comfort
letter), and the Master Servicer shall use reasonable efforts in accordance with the Servicing Standard to acquire such replacement
comfort letter, if necessary (or to acquire any such new document or acknowledgement as may be contemplated under the existing
comfort letter).

 

(e)        Notwithstanding
anything to the contrary contained herein, with respect to any Joint Mortgage Loan, the obligations of the related Mortgage Loan
Seller to deliver a Note to the Trustee, or a Custodian on its behalf, shall be limited to delivery of only the Note held by such
party to the Trustee, or Custodian on its behalf. With respect to any Joint Mortgage Loan, the obligations of each Mortgage Loan
Seller to deliver the remaining portion of the related Mortgage File or any document required to be delivered with respect thereto
shall be joint and several, provided that either of the related Mortgage Loan Sellers may deliver one Mortgage File or one of any
other document required to be delivered with respect to the Joint Mortgage Loan hereunder and such delivery shall satisfy such
delivery requirements for each of the related Mortgage Loan Sellers.

 

Section 2.02          Acceptance
by Custodian and the Trustee. By its execution and delivery of this Agreement, the Trustee acknowledges the assignment to it of
the Mortgage Loans in good faith without notice of adverse claims and declares that the Custodian holds and will hold such documents
and all others delivered to it constituting the Mortgage File (to the extent the documents constituting the Mortgage File are
actually delivered to the Custodian) for any Mortgage Loan assigned to the Trustee hereunder in trust, upon the conditions herein
set forth, for the use and benefit of all present and future Certificateholders and Serviced Companion Loan Noteholders.

 

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The Custodian hereby
certifies to each of the Directing Holder, the Depositor, the Certificate Administrator, the Trustee, the Master Servicer, the
Special Servicer, the Operating Advisor and each Mortgage Loan Seller that except as identified in the Custodian’s closing
date certification, which shall be delivered no later than two Business Days after the Closing Date substantially in the form attached
as Exhibit N-1 to this Agreement, (i) each Note (or copy thereof, with respect to any Serviced Companion Loan) is in its
possession and has been reviewed by the Custodian and (A) appears regular on its face (handwritten additions, changes or corrections
shall not constitute irregularities if initialed by the Borrower), (B) appears to have been executed (where appropriate) and (C)
purports to relate to such Mortgage Loan and (ii) each of the documents specified in Section 2.01(a)(ii), Section 2.01(a)(vii),
Section 2.01(a)(xi) and Section 2.01(a)(xix) of this Agreement have been received, have been executed, appear to be what they purport
to be, purport to be recorded or filed (as applicable) and have not been torn in any materially adverse manner or mutilated or
otherwise defaced, and that such documents relate to the Mortgage Loans identified in the Mortgage Loan Schedule. If the Custodian
does not send a closing date certification on the Closing Date, it shall send an email confirmation to the Trustee and the Depositor
that it has received all of the Notes (or copies or lost note affidavits as permitted), subject to any exceptions noted therein,
on the Closing Date.

 

On or about the 60th
day following the Closing Date (and, if any exceptions are noted (which exceptions and any updates thereto shall also be delivered
electronically in Excel-compatible format), again on or about the 90th day following the Closing Date and monthly thereafter until
the earliest of (i) the second anniversary of the Closing Date, (ii) the day on which all material exceptions have been removed
and (iii) the day on which the applicable Mortgage Loan Seller (or, if applicable, its affiliate) has repurchased or substituted
for the last affected Mortgage Loan), the Custodian shall review each Mortgage File and shall certify to each of the Controlling
Class Representative, the Depositor, the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the
Operating Advisor and each Mortgage Loan Seller in the form attached as Exhibit N-2 to this Agreement that all documents
(other than documents referred to in clauses (xix) and (xx) of Section 2.01(a) of this Agreement, which shall be delivered to the
Master Servicer and the documents referred to in clauses (iii), (v)(B) and (viii)(B) of Section 2.01(a) of this Agreement and the
assignments of financing statements referred to in clause (xiii) of Section 2.01(a) of this Agreement, which shall be delivered
for filing or recording by the related Mortgage Loan Seller as provided herein) referred to in Section 2.01(a) above (in the case
of the documents referred to in Section 2.01(a)(iv), (vi), (viii), (ix), (x), (xii) through (xvi) and (xviii) through (xx) of this
Agreement, as identified to it in writing as a document required to be delivered by the related Mortgage Loan Seller) and any original
recorded documents included in the delivery of a Mortgage File have been received, have been executed, appear to be what they purport
to be, purport to be recorded or filed (as applicable) and have not been torn in any materially adverse manner or mutilated or
otherwise defaced, and that such documents relate to the Mortgage Loans identified in the Mortgage Loan Schedule. In so doing,
the Custodian may rely on the purported due execution and genuineness of any such document and on the purported genuineness of
any signature thereon. Notwithstanding the foregoing, with respect to any Non-Serviced Mortgage Loan, the Custodian shall only
be required to certify to each of the Controlling Class Representative, the Depositor, the Certificate Administrator, the Trustee,
the

 

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Master
Servicer, the Special Servicer, the Operating Advisor and each Mortgage Loan Seller that the document set forth in Section 2.01(a)(i)(A)
has been received.

 

If at the conclusion
of such review any document or documents constituting a part of a Mortgage File have not been executed or received, have not been
recorded or filed (if required), are unrelated to the Mortgage Loans identified in the Mortgage Loan Schedule, appear not to be
what they purport to be or have been torn in any materially adverse manner or mutilated or otherwise defaced, the Custodian shall
promptly so notify (in the form attached as Exhibit M to this Agreement) the Trustee, the Directing Holder (but only if
no Consultation Termination Event has occurred and is continuing), the Depositor, the Certificate Administrator, the Master Servicer,
the Special Servicer, the Operating Advisor and the related Mortgage Loan Seller by providing a written report, setting forth for
each affected Mortgage Loan, with particularity, the nature of the defective or missing document. The Depositor shall or shall
cause the related Mortgage Loan Seller to deliver to the Custodian an executed, recorded or undamaged document, as applicable,
or, if the failure to deliver such document in such form constitutes a Material Defect, the Depositor shall cause the related Mortgage
Loan Seller to cure, repurchase or substitute for the related Mortgage Loan in the manner provided in Section 2.03(e) of this Agreement.
None of the Master Servicer, the Special Servicer, the Certificate Administrator, the Custodian or the Trustee shall be responsible
for any loss, cost, damage or expense to the Trust Fund resulting from any failure to receive any document constituting a portion
of a Mortgage File noted on such a report or for any failure by the Depositor to use its best efforts to deliver any such document.

 

Contemporaneously with
its execution of this Agreement, the Depositor shall cause each Mortgage Loan Seller to deliver a power of attorney substantially
in the form of Exhibit C to the applicable Mortgage Loan Purchase Agreement to the Master Servicer and Special Servicer, that permits
such parties to take such other action as is necessary to effect the delivery, assignment and/or recordation of any documents and/or
instruments relating to any Mortgage Loan which have not been delivered, assigned or recorded at the time required for enforcement
by the Trust Fund. Pursuant to the related Mortgage Loan Purchase Agreement, each of the Mortgage Loan Sellers will be required
to effect (at the expense of the applicable Mortgage Loan Seller) the assignment and recordation of its respective Loan Documents
until the assignment and recordation of all such Loan Documents has been completed.

 

In reviewing any Mortgage
File pursuant to the third preceding paragraph or Section 2.01 of this Agreement, the Master Servicer shall have no responsibility
to cause the Custodian or Trustee to, and the Custodian or Trustee will have no responsibility to, examine any opinions or determine
whether any document is legal, valid, binding, sufficient, duly authorized or enforceable, whether the text of any assignment or
endorsement is in proper or recordable form (except, if applicable, to determine if the Trustee is the assignee or endorsee), whether
any document has been recorded in accordance with the requirements of any applicable jurisdiction, whether a blanket assignment
is permitted in any applicable jurisdiction, or whether any Person executing any document or rendering any opinion is authorized
to do so or whether any signature thereon is genuine.

 

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The Custodian shall hold
that portion of the Trust Fund delivered to the Custodian consisting of “instruments” (as such term is defined in Section
9-102 of the Uniform Commercial Code as in effect in Minnesota on the date hereof) in Minnesota and, except as otherwise specifically
provided in this Agreement, shall not remove such instruments from Minnesota, as applicable, unless it receives an Opinion of Counsel
(obtained and delivered at the expense of the Person requesting the removal of such instruments from Minnesota) that if the transfer
of the Mortgage Loans to the Trustee is deemed not to be a sale, after such removal, the Trustee will possess a first priority
perfected security interest in such instruments.

 

Section 2.03          Representations,
Warranties and Covenants of the Depositor; Repurchase and Substitution of Mortgage Loans. (a) The Depositor hereby represents
and warrants that:

 

(i)          The
Depositor is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware;

 

(ii)         The
Depositor has taken all necessary action to authorize the execution, delivery and performance of this Agreement by it, and has
the power and authority to execute, deliver and perform this Agreement and all the transactions contemplated hereby, including,
but not limited to, the power and authority to sell, assign and transfer the Mortgage Loans in accordance with this Agreement;

 

(iii)        This
Agreement has been duly and validly executed and delivered by the Depositor and assuming the due authorization, execution and delivery
of this Agreement by each other party hereto, this Agreement and all of the obligations of the Depositor hereunder are the legal,
valid and binding obligations of the Depositor, enforceable in accordance with the terms of this Agreement, except as such enforcement
may be limited by bankruptcy, insolvency, reorganization, liquidation, receivership, moratorium or other laws relating to or affecting
creditors’ rights generally, or by general principles of equity (regardless of whether such enforceability is considered
in a proceeding in equity or at law);

 

(iv)        The
execution and delivery of this Agreement and the performance of its obligations hereunder by the Depositor will not conflict with
any provision of its certificate of incorporation or bylaws, or any law or regulation to which the Depositor is subject, or conflict
with, result in a breach of or constitute a default under (or an event which with notice or lapse of time or both would constitute
a default under) any of the terms, conditions or provisions of any agreement or instrument to which the Depositor is a party or
by which it is bound, or any law, order or decree applicable to the Depositor, or result in the creation or imposition of any lien
on any of the Depositor’s assets or property, which would materially and adversely affect the ability of the Depositor to
carry out the transactions contemplated by this Agreement;

 

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(v)        The
certificate of incorporation of the Depositor provides that the Depositor is permitted to engage in only the following activities:

 

(A)        to
acquire, own, hold, sell, transfer, assign, pledge and otherwise deal with the following: (I) “fully-modified pass-through”
certificates (“GNMA Certificates”) issued and guaranteed as to timely payment of principal and interest by the
Government National Mortgage Association (“GNMA”), a wholly-owned corporate instrumentality of the United States
within the Department of Housing and Urban Development organized and existing under Title III of the National Housing Act of 1934;
(II) Guaranteed Mortgage Pass-Through Certificates (“FNMA Certificates”) issued and guaranteed as to timely
payment of principal and interest by FNMA; (III) Mortgage Participation Certificates (“FHLMC Certificates”)
issued and guaranteed as to timely payment of interest and ultimate or full payment of principal by FHLMC; (IV) any other participation
certificates, pass-through certificates or other obligations or interests backed directly or indirectly by mortgage loans and issued
or guaranteed by GNMA, FNMA or FHLMC (collectively with the GNMA Certificates, FNMA Certificates and FHLMC Certificates, the “Agency
Securities”); (V) mortgage-backed securities, which securities need not be issued or guaranteed, in whole or in part,
by any governmental entity, issued by one or more private entities (hereinafter referred to as “Private Securities”);
(VI) mortgage loans secured by first, second or more junior liens on one-to-four family residential properties, multifamily properties
that are either rental apartment buildings or projects containing five or more residential units or commercial properties, regardless
of whether insured or guaranteed in whole or in part by any governmental entity, or participation interests or stripped interests
in such mortgage loans (“Mortgage Loans”); (VII) conditional sales contracts and installment sales or loan agreements
or participation interests therein secured by manufactured housing (“Contract”); and (VIII) receivables of third-parties
or other financial assets of third-parties, either fixed or revolving, that by their terms convert into cash within a finite time
period (“Other Assets”);

 

(B)        to
loan its funds to any person under loan agreements and other arrangements which are secured by Agency Securities, Private Securities,
Mortgage Loans, Contracts and/or Other Assets;

 

(C)        to
authorize, issue, sell and deliver bonds or other evidences of indebtedness that are secured by Agency Securities, Private Securities,
Mortgage Loans, Contracts and/or Other Assets;

 

(D)        to
authorize, issue, sell and deliver certificates evidencing beneficial ownership interests in pools of Agency Securities, Private
Securities, Mortgage Loans, Contracts and/or Other Assets; and

 

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(E)        to
engage in any activity and to exercise any powers permitted to corporations under the laws of the State of Delaware that are incident
to the foregoing and necessary or convenient to accomplish the foregoing.

 

Capitalized terms defined in
this clause (v) shall apply only to such clause;

 

(vi)        There
is no action, suit, proceeding or investigation pending or threatened against the Depositor in any court or by or before any other
governmental agency or instrumentality which would materially and adversely affect the ability of the Depositor to carry out its
obligations under this Agreement;

 

(vii)       No
consent, approval, authorization or order of, or registration or filing with, or notice to any court or governmental agency or
body, is required for the execution, delivery and performance by the Depositor of or compliance by the Depositor with this Agreement,
or if required, such approval has been obtained prior to the Cut-off Date; and

 

(viii)      The
Trustee, if not the owner of the related Mortgage Loan, will have a valid and perfected security interest of first priority in
each of the Mortgage Loans and any proceeds thereof.

 

(b)        The
Depositor hereby represents and warrants with respect to each Mortgage Loan that:

 

(i)          Immediately
prior to the transfer and assignment to the Trustee by the Depositor, the Note and the Mortgage were not subject to an assignment
or pledge, and the Depositor had good title to, and was the sole owner of, the Mortgage Loan and had full right to transfer and
sell the Mortgage Loan to the Trustee free and clear of any encumbrance, equity, lien, pledge, charge, claim or security interest;
provided, that, in the case of a Non-Serviced Mortgage Loan, the related Mortgage has been (or will be) assigned to the
Other Trustee under the Other Pooling and Servicing Agreement for the benefit of the holders of securities issued in connection
with the related Other Securitization, as applicable;

 

(ii)         The
Depositor is transferring such Mortgage Loan free and clear of any and all liens, pledges, charges or security interests of any
nature encumbering such Mortgage Loan;

 

(iii)        The
related Assignment of Mortgage constitutes the legal, valid and binding assignment of such Mortgage from the Depositor to the Trustee,
and any related Reassignment of Assignment of Leases, Rents and Profits constitutes the legal, valid and binding assignment from
the Depositor to the Trustee; and

 

(iv)       No
claims have been made by the Depositor under the lender’s title insurance policy, and the Depositor has not done anything
which would impair the coverage of such lender’s title insurance policy.

 

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(c)        It
is understood and agreed that the representations and warranties set forth in this Section 2.03 shall survive delivery of the respective
Mortgage Files to the Custodian until the termination of this Agreement, and shall inure to the benefit of the Certificateholders,
any Serviced Companion Loan Noteholders, Certificate Administrator, the Trustee, the Custodian, the Master Servicer and the Special
Servicer.

 

(d)        If
the Master Servicer or the Special Servicer (i) receives a Repurchase Communication of a request or demand for repurchase or replacement
of a Mortgage Loan because of a Breach or a Defect (each as defined below) (any such request or demand, a “Repurchase
Request”, and the Master Servicer or the Special Servicer, as applicable, to the extent it receives a Repurchase Request,
the “Repurchase Request Recipient” with respect to such Repurchase Request); (ii) receives a Repurchase Communication
of a withdrawal of a Repurchase Request by the Person making such Repurchase Request (a “Repurchase Request Withdrawal”),
(iii) receives a Repurchase Communication that any Mortgage Loan that was subject to a Repurchase Request has been repurchased
or replaced (a “Repurchase”), or (iv) receives a Repurchase Communication of the rejection of a Repurchase Request
(a “Repurchase Request Rejection”), then such Person shall deliver written notice of such Repurchase Request,
Repurchase Request Withdrawal, Repurchase or Repurchase Request Rejection (each such notice, a “Rule 15Ga-1 Notice”)
to the Depositor, Master Servicer, Special Servicer and the related Mortgage Loan Seller, in each case within ten Business Days
from such party’s receipt of a Repurchase Communication of such Repurchase Request, Repurchase Request Withdrawal, Repurchase
or Repurchase Request Rejection, as applicable; provided however, if the Master Servicer receives notice of a Repurchase Request
Withdrawal or Repurchase Request Rejection from the Special Servicer (which notice copies the Depositor and the related Mortgage
Loan Seller), the Master Servicer shall have no obligation to deliver such notice to any other party; provided, further, if the
Special Servicer receives notice of a Repurchase Request Withdrawal or Repurchase Request Rejection from the Master Servicer (which
notice copies the Depositor and the related Mortgage Loan Seller), the Special Servicer shall have no obligation to deliver such
notice to any other party.

 

Each Rule 15Ga-1 Notice
shall include (i) the identity of the related Mortgage Loan, (ii) the date the Repurchase Communication of the Repurchase Request,
Repurchase Request Withdrawal, Repurchase or Repurchase Request Rejection, as applicable, was received and (iii) in the case of
a Repurchase Request, (A) the identity of the Person making such Repurchase Request, (B) if known, the basis for the Repurchase
Request (as asserted in the Repurchase Request) and (C) a statement from the Repurchase Request Recipient as to whether it currently
plans to pursue such Repurchase Request.

 

No Person that is required
to provide a Rule 15Ga-1 Notice pursuant to this Section 2.03(d) (a “Rule 15Ga-1 Notice Provider”) shall be
required to provide any information in a Rule 15Ga-1 Notice protected by the attorney-client privilege or attorney work product
doctrines. Each Mortgage Loan Purchase Agreement will provide that (i) any Rule 15Ga-1 Notice provided pursuant to this Section
2.03(d) is so provided only to assist the related Mortgage Loan Seller, the Depositor and its Affiliates to comply with Rule 15Ga-1
under the Exchange Act, Items 1104 and 1121 of Regulation AB and any other requirement of law or regulation and (ii) (A) no action
taken by, or inaction of, a Rule 15Ga-1 Notice

 

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Provider
and (B) no information provided pursuant to this Section 2.03(d) by a Rule 15Ga-1 Notice Provider, shall be deemed to constitute
a waiver or defense to the exercise of any legal right the Rule 15Ga-1 Notice Provider may have with respect to the related Mortgage
Loan Purchase Agreement, including with respect to any Repurchase Request that is the subject of a Rule 15Ga-1 Notice.

 

In the event that the
Depositor, the Trustee, the Certificate Administrator, the Operating Advisor or the Custodian receives a Repurchase Communication
of a Repurchase Request or a Repurchase Request Withdrawal, then such party shall promptly forward such Repurchase Communication
of such Repurchase Request or Repurchase Request Withdrawal to the Master Servicer, if relating to a Performing Loan, or to the
Special Servicer, if relating to a Specially Serviced Loan or REO Property, and include the following statement in the related
correspondence: “This is a “Repurchase Request [Withdrawal]” under Section 2.03(d) of the Pooling and Servicing
Agreement relating to the COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates requiring action by you
as the recipient of such Repurchase Request or Repurchase Request Withdrawal thereunder”. Upon receipt of such Repurchase
Communication of such Repurchase Request or Repurchase Request Withdrawal by the Master Servicer or the Special Servicer, as applicable,
such party shall be deemed to be the Repurchase Request Recipient of such Repurchase Communication of such Repurchase Request or
Repurchase Request Withdrawal, and such party shall comply with the procedures set forth in this Section 2.03(d) with respect to
such Repurchase Request or Repurchase Request Withdrawal. In no event shall the Custodian, by virtue of this provision, be required
to provide any notice other than as set forth in Section 2.02 of this Agreement in connection with its review of the Mortgage File.

 

(e)        A
“Defect” shall exist with respect to a Mortgage Loan if any document constituting a part of the related Mortgage File
has not been delivered within the time periods provided for in the related Mortgage Loan Purchase Agreement, has not been properly
executed, is missing, does not appear to be regular on its face or contains information that does not conform in any material respect
with the corresponding information set forth in the Mortgage Loan Schedule. A “Breach” shall mean a breach of any representation
or warranty of any Mortgage Loan Seller made pursuant to the related Mortgage Loan Purchase Agreement with respect to any Mortgage
Loan. If any party hereto discovers or receives notice of a Defect or a Breach, and if such Defect is a Material Defect or such
Breach is a Material Breach, as applicable, then such party, on behalf of the Trust Fund, shall give prompt written notice thereof
to the related Mortgage Loan Seller, the other parties hereto, the 17g-5 Information Provider (who shall promptly post such notice
to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement), the related Serviced Companion
Loan Noteholder (if any) and, for so long as no Consultation Termination Event has occurred and is continuing, the Directing Holder.
If any such Defect or Breach materially and adversely affects the value of any Mortgage Loan, the value of the related Mortgaged
Property or the interests of the Trustee in any Mortgage Loan or Mortgaged Property, or causes the related Mortgage Loan to be
other than a “qualified mortgage” (within the meaning of Section 860G(a)(3) of the Code, without regard to the rule
of Treasury Regulation Section 1.860G-2(f)(2) which causes a defective mortgage loan to be treated as a “qualified mortgage”),
then such Defect shall constitute a “Material Defect” or such Breach shall constitute a “Material Breach,”
as the case may be; provided, that if any of the documents specified in Section 2.01(a)(i),

 

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Section
2.01(a)(ii), Section 2.01(a)(vii), Section 2.01(a)(xi) and Section 2.01(a)(xix) of this Agreement are not delivered as required
in the related Mortgage Loan Purchase Agreement, it shall be deemed a Material Defect. The Custodian, the Certificate Administrator
and the Trustee shall not be required to make any such determination. Promptly upon receiving written notice of any such Material
Defect or Material Breach with respect to a Mortgage Loan, accompanied by a written demand to take the actions contemplated by
this sentence from any party hereto, on behalf of the Trust Fund, the applicable Mortgage Loan Seller (or, if applicable, its
affiliate) shall, not later than 90 days from the applicable Mortgage Loan Seller’s receipt of such notice of such Material
Defect or Material Breach, as the case may be (or, in the case of a Material Defect or Material Breach relating to a Mortgage
Loan not being a “qualified mortgage” as described in the second preceding sentence, not later than 90 days after
the Mortgage Loan Seller or any party hereto discovering such Material Defect or Material Breach, provided that the related Mortgage
Loan Seller has received notice in accordance with the terms of the related Mortgage Loan Purchase Agreement) (any such 90-day
period, the “Initial Resolution Period”), (i) cure the same in all material respects, (ii) repurchase the affected
Mortgage Loan at the applicable Repurchase Price in conformity with the applicable Mortgage Loan Purchase Agreement or (iii) substitute
a Qualifying Substitute Mortgage Loan for such affected Mortgage Loan (provided that, in no event shall such substitution
occur later than the second anniversary of the Closing Date) and pay to the Master Servicer for deposit into the Collection Account
(or, with respect to any Serviced Loan Combination, the applicable Serviced Loan Combination Collection Account) any Substitution
Shortfall Amount in connection therewith; provided that if (i) such Material Defect or Material Breach is capable of being
cured but not within the Initial Resolution Period or, with respect to the immediately preceding proviso, the time period set
forth therein, (ii) such Material Defect or Material Breach is not related to any Mortgage Loan’s not being a “qualified
mortgage” within the meaning of the REMIC Provisions and (iii) the Mortgage Loan Seller has commenced and is diligently
proceeding with the cure of such Material Defect or Material Breach within the Initial Resolution Period, then the Mortgage Loan
Seller shall have an additional period equal to the applicable Resolution Extension Period to complete such cure or, failing such
cure, to repurchase the Mortgage Loan or substitute a Qualifying Substitute Mortgage Loan. Notwithstanding the foregoing, if a
Mortgage Loan is not secured by a Mortgaged Property that is, in whole or in part, a hotel, restaurant (operated by a Borrower),
healthcare facility, nursing home, assisted living facility, self-storage facility, theatre or fitness center (operated by a Borrower),
then the failure to deliver to the Custodian copies of the UCC financing statements with respect to such Mortgage Loan shall not
be a Material Defect. With respect to the Joint Mortgage Loan, each Mortgage Loan Seller’s obligation shall be such Mortgage
Loan Seller’s pro rata share based on such Mortgage Loan Seller’s percentage interest as of the date of the applicable
Mortgage Loan Purchase Agreement in the Joint Mortgage Loan. With respect to a Non-Serviced Mortgage Loan, notwithstanding anything
to the contrary above, any Defect as such term is defined in the related Other Pooling and Servicing Agreement (other than a Defect
related to the promissory note for the related Companion Loan or any assignment(s) in favor of the applicable Other Trustee or
any power of attorney related thereto) will constitute a Defect under this Agreement, and there shall not be any other Defects
with respect to such Non-Serviced Mortgage Loans other than the failure to deliver the items in Section 2.01(a)(i)(A).

 

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Notwithstanding the foregoing,
if there is a Material Breach or Material Defect with respect to one or more Mortgaged Properties with respect to a Mortgage Loan,
the applicable Mortgage Loan Seller (or, if applicable, its affiliate) will not be obligated to repurchase the Mortgage Loan if
(i) the affected Mortgaged Property may be released pursuant to the terms of any partial release provisions in the related Loan
Documents (and such Mortgaged Property is, in fact, released), (ii) the remaining Mortgaged Property(ies) satisfy the requirements,
if any, set forth in the Loan Documents and the Mortgage Loan Seller provides an Opinion of Counsel to the effect that such release
would not cause an Adverse REMIC Event to occur and (iii) each applicable Rating Agency has provided a No Downgrade Confirmation.

 

If a Mortgage Loan Seller,
in connection with a Material Defect or a Material Breach (or an allegation of a Material Defect or a Material Breach) pertaining
to a Mortgage Loan, makes a cash payment pursuant to an agreement or a settlement between the applicable Mortgage Loan Seller and
the Special Servicer on behalf of the Trust (and with the consent of the Directing Holder if no Control Termination Event has occurred
and is continuing) (each such payment, a “Loss of Value Payment”) with respect to such Mortgage Loan, the amount
of such Loss of Value Payment shall be deposited into the Loss of Value Reserve Fund to be applied in accordance with Section 3.06(e)
of this Agreement. If such Loss of Value Payment is made, the Loss of Value Payment shall serve as the sole remedy available to
the Certificateholders and the Trustee on their behalf regarding any such Material Breach or Material Defect in lieu of any obligation
of the Mortgage Loan Seller to otherwise cure such Material Breach or Material Defect or repurchase or substitute for the affected
Mortgage Loan based on such Material Breach or Material Defect under any circumstances. This paragraph is intended to apply only
to a mutual agreement or settlement between the applicable Mortgage Loan Seller and the Trust, provided, that (i) prior
to any such agreement or settlement nothing in this paragraph shall preclude the Mortgage Loan Seller or the Trustee from exercising
any of its rights related to a Material Defect or a Material Breach in the manner and timing set forth in the related Mortgage
Loan Purchase Agreement or this Section 2.03 (excluding this paragraph) (including any right to cure, repurchase or substitute
for such Mortgage Loan), (ii) such Loss of Value Payment shall not be greater than the Repurchase Price of the affected Mortgage
Loan; and (iii) a Material Defect or a Material Breach as a result of a Mortgage Loan not constituting a “qualified mortgage”
within the meaning of Section 860G(a)(3) of the Code may not be cured by a Loss of Value Payment. With respect to any Joint Mortgage
Loan, the applicable Mortgage Loan Seller’s obligation shall be such Mortgage Loan Seller’s pro rata share based
on such Mortgage Loan Seller’s percentage interest as of the date of the applicable Mortgage Loan Purchase Agreement in such
Joint Mortgage Loan.

 

If (x) there exists a
breach of any representation or warranty on the part of a Mortgage Loan Seller as set forth in, or made pursuant to, certain representations
set forth in the related Mortgage Loan Purchase Agreement relating to fees and expenses payable by the Borrower associated with
the exercise of a defeasance option, a waiver of a “due-on-sale” provision or a “due-on-encumbrance” provision
or the release of any Mortgaged Property, and (y) the related Loan Documents specifically prohibit the Master Servicer or Special
Servicer from requiring the related Borrower to pay such fees and expenses, then, upon notice by the Master Servicer or Special
Servicer, such Mortgage Loan Seller may cure such breach by

 

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transferring
to the Collection Account, within 90 days of the such Mortgage Loan Seller’s receipt of such notice, the amount of any such
fees and expenses borne by the Trust Fund that are the basis of such breach. Upon its making such deposit, such Mortgage Loan
Seller shall be deemed to have cured such breach in all respects. With respect to any Joint Mortgage Loan, the applicable Mortgage
Loan Seller’s obligation shall be such Mortgage Loan Seller’s pro rata share based on such Mortgage Loan Seller’s
percentage interest as of the date of the applicable Mortgage Loan Purchase Agreement in such Joint Mortgage Loan. Provided such
payment is made, this paragraph describes the sole remedy available to the Trust regarding any such breach, regardless of whether
it constitutes a Material Breach, and the related Mortgage Loan Seller (or, if applicable, its affiliate) will not be obligated
to repurchase or otherwise cure such breach.

 

(f)          In
connection with any repurchase of or substitution for a Mortgage Loan contemplated by this Section 2.03, (A) the Custodian, the
Master Servicer (with respect to any Performing Loan) and the Special Servicer (with respect to any Specially Serviced Loan) shall
each tender to the applicable Mortgage Loan Seller all portions of the Mortgage File (in the case of the Custodian) and the Servicing
File (in the case of the Master Servicer and the Special Servicer, as applicable) and any and all other documents pertaining to
such Mortgage Loan possessed by it, upon delivery (i) to each of the Master Servicer or the Special Servicer, as applicable, of
a trust receipt and (ii) to the Custodian by the Master Servicer or the Special Servicer, as applicable, of a Request for Release
and an acknowledgement by the Master Servicer or Special Servicer, as applicable, of its receipt of the Repurchase Price or the
Substitution Shortfall Amount from the applicable Mortgage Loan Seller, (B) each document that constitutes a part of the Mortgage
File that was endorsed or assigned to the Trustee shall be endorsed or assigned without recourse in the form of endorsement or
assignment provided to the Custodian by the applicable Mortgage Loan Seller, as the case may be, to the applicable Mortgage Loan
Seller as shall be necessary to vest in the applicable Mortgage Loan Seller the legal and beneficial ownership of such Mortgage
Loan to the extent such ownership was transferred to the Trustee (provided, that the Master Servicer or Special Servicer,
as applicable, shall use reasonable efforts to cooperate in furnishing necessary information to the extent in its possession to
the Mortgage Loan Seller in connection with such Mortgage Loan Seller’s preparation of such endorsement or assignment) and
(C) the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer shall release, or cause a release
of, any escrow payments and reserve funds held by the Trustee, the Certificate Administrator, the Master Servicer and the Special
Servicer, as applicable, or on the Trustee’s, the Certificate Administrator’s, the Master Servicer’s and the
Special Servicer’s, as applicable, behalf, in respect of such Mortgage Loan to the applicable Mortgage Loan Seller.

 

(g)        The
Master Servicer (with respect to Performing Loans) and the Special Servicer (with respect to Specially Serviced Loans) shall, for
the benefit of the Certificateholders and the Trustee, use reasonable efforts to enforce the obligations of the applicable Mortgage
Loan Seller under Section 6 of the applicable Mortgage Loan Purchase Agreement. Such enforcement, including, without limitation,
the legal prosecution of claims, shall be carried out in accordance with the Servicing Standard. The Trustee, the Certificate Administrator,
the Master Servicer and the Special Servicer, as the case may be, shall be reimbursed for the reasonable costs of such enforcement:
first, pursuant to Section 3.06 of this Agreement (with respect to the related Mortgage Loan), out of the related Repurchase
Price or

 

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Substitution
Shortfall Amount, as applicable, to the extent that such expenses are a specific component thereof; and second, if at the
conclusion of such enforcement action it is determined that the amounts described in clause first are insufficient, then
pursuant to Section 3.06 of this Agreement, out of general collections on the Mortgage Loans on deposit in the Collection Account
in each case with interest thereon at the Advance Rate from the time such expense was incurred to, but excluding, the date such
expense was reimbursed. To the extent the applicable Mortgage Loan Seller prevails in such proceeding, such Mortgage Loan Seller
shall be entitled to reimbursement from the Trust for all necessary and reasonable costs and expenses incurred in connection with
such proceeding, including reasonable attorneys’ fees.

 

So long as document exceptions
are outstanding, on each anniversary of the Closing Date, the Custodian shall prepare and forward to the Depositor, the Trustee,
the Certificate Administrator, the Master Servicer, the Special Servicer, the Operating Advisor, the Controlling Class Representative
(as identified to the Custodian by the Certificate Administrator) and the applicable Mortgage Loan Seller, a document exception
report (which report and any updates thereto shall also be delivered electronically in Excel-compatible format) setting forth the
then current status of any Defects related to the Mortgage Files pertaining to the Mortgage Loans sold by such Mortgage Loan Seller.

 

As to any Qualifying
Substitute Mortgage Loan, the Master Servicer (with respect to Performing Loans) or the Special Servicer (with respect to Specially
Serviced Loans and REO Properties) shall direct the related Mortgage Loan Seller to deliver to the Custodian for such Qualifying
Substitute Mortgage Loan (with a copy to the Master Servicer and Special Servicer), the related Mortgage File with the related
Note endorsed as required by Section 2.01(a)(i) hereof. Monthly Payments due with respect to Qualifying Substitute Mortgage Loans
in or prior to the month of substitution shall not be part of the Trust Fund and, if received by the Master Servicer, shall be
remitted by the Master Servicer to the related Mortgage Loan Seller on the next succeeding Distribution Date. For the month of
repurchase or substitution, distributions to Certificateholders will include the Monthly Payment(s) due on the related Removed
Mortgage Loan, if and to the extent received by the Master Servicer or the Special Servicer on behalf of the Trust on or prior
to the related date of repurchase or substitution, as applicable, and such Mortgage Loan Seller shall be entitled to retain all
amounts received thereafter in respect of such Removed Mortgage Loan.

 

In any month in which
a Mortgage Loan Seller substitutes one or more Qualifying Substitute Mortgage Loans for one or more Removed Mortgage Loans, the
Master Servicer will determine the applicable Substitution Shortfall Amount and promptly notify the Certificate Administrator thereof.
Promptly upon receipt of such notice, the Certificate Administrator shall direct such Mortgage Loan Seller to deposit into the
Collection Account and/or the applicable Serviced Loan Combination Collection Account, as applicable, cash equal to such amount
concurrently with the delivery of the Mortgage Files for such Qualifying Substitute Mortgage Loans, without any reimbursement thereof.
The Certificate Administrator shall also direct such Mortgage Loan Seller to give written notice to the Depositor, the Trustee,
the Master Servicer and the Special Servicer of such deposit. The Master Servicer shall amend the Mortgage Loan Schedule to reflect
the removal of each Removed Mortgage Loan and, if applicable, the substitution of the Qualifying Substitute Mortgage Loan, and,
upon such amendment, the Master Servicer shall deliver or cause the delivery of such amended

 

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Mortgage
Loan Schedule to the other parties hereto. Upon any such substitution, the Qualifying Substitute Mortgage Loans shall be subject
to the terms of this Agreement in all respects.

 

It is understood and
agreed that Section 6 of the Mortgage Loan Purchase Agreements provides the sole remedy available to the Certificateholders and
the Trustee on behalf of the Certificateholders respecting any Breach (including a Breach with respect to a Mortgage Loan failing
to constitute a Qualified Mortgage) or any Defect.

 

(h)        In
the event that any litigation is commenced which alleges facts which, in the judgment of the Depositor, could constitute a breach
of any of the Depositor’s representations and warranties relating to the Mortgage Loans, the Depositor hereby reserves the
right to conduct the defense of such litigation at its expense and shall not be required to obtain any consent from the Master
Servicer, the Special Servicer or the Directing Holder, unless such defense results in any liability of the Master Servicer, the
Special Servicer or the Directing Holder, as applicable.

 

(i)         If
for any reason a Mortgage Loan Seller fails to fulfill its obligations under the related Mortgage Loan Purchase Agreement with
respect to any Mortgage Loan, the Master Servicer (with respect to Performing Loans) and the Special Servicer (with respect to
Specially Serviced Loans) shall use reasonable efforts in enforcing any obligation of such Mortgage Loan Seller to cure, repurchase
or substitute for such Mortgage Loan under the terms of the related Mortgage Loan Purchase Agreement all at the expense of such
Mortgage Loan Seller.

 

(j)         Notwithstanding
anything to the contrary contained in this Agreement, for the purposes of Section 2.03 of this Agreement and any provision
relating to repurchase and substitution obligations for a Material Breach or Material Defect, with respect to any Joint Mortgage
Loan, the obligations of each of the applicable Mortgage Loan Sellers to repurchase or substitute such Joint Mortgage Loan shall
be limited to a repurchase, substitution or Loss of Value Payment with respect to the Note it sold to the Depositor in accordance
with the related Mortgage Loan Purchase Agreement. With respect to any Joint Mortgage Loan, any cure by either of the applicable
Mortgage Loan Sellers with respect to the Note sold by it to the Depositor in accordance with the related Mortgage Loan Purchase
Agreement that also cures the Material Defect or Material Breach with respect to the entire related Joint Mortgage Loan shall satisfy
the cure obligations of both Mortgage Loan Sellers with respect to such Joint Mortgage Loan.

 

Section 2.04          Representations,
Warranties and Covenants of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee and the Operating
Advisor. (a) The Master Servicer, as Master Servicer, hereby represents and warrants with respect to itself to the Trustee, for
its own benefit and the benefit of the Certificateholders, and to the Depositor, the Certificate Administrator, the Special Servicer,
the Operating Advisor and the Serviced Companion Loan Noteholders, as of the Closing Date, that:

 

(i)          The
Master Servicer is a national banking association, duly organized, validly existing and in good standing under the laws of the
United States of America,

 

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and the Master Servicer is in compliance with the laws of each state (within the United States of America)
in which any related Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement;

 

(ii)         The
execution and delivery of this Agreement by the Master Servicer, and the performance and compliance with the terms of this Agreement
by the Master Servicer, do not (A) violate the Master Servicer’s organizational documents or (B) constitute a default (or
an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material
agreement or other material instrument to which it is a party or which is applicable to it or any of its assets, or (C) violate
any law, rule, regulation, order, judgment or decree to which the Master Servicer or its property is subject, which, in the case
of either (B) or (C), is likely to materially and adversely affect either the ability of the Master Servicer to perform its obligations
under this Agreement or its financial condition;

 

(iii)        The
Master Servicer has the full corporate power and authority to enter into and consummate all transactions to be performed by it
contemplated by this Agreement, has duly authorized the execution, delivery and performance by it of this Agreement, and has duly
executed and delivered this Agreement;

 

(iv)       This
Agreement, assuming due authorization, execution and delivery by the Trustee, the Paying Agent, the Certificate Administrator,
the Operating Advisor, the Special Servicer and the Depositor, constitutes a valid, legal and binding obligation of the Master
Servicer, enforceable against the Master Servicer in accordance with the terms hereof, subject to applicable bankruptcy, insolvency,
reorganization, receivership, moratorium and other laws affecting the enforcement of creditors’ rights generally, and general
principles of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;

 

(v)        The
Master Servicer is not in default with respect to any law, any order or decree of any court, or any order, regulation or demand
of any federal, state, municipal or governmental agency, which default, in the Master Servicer’s reasonable judgment is likely
to materially and adversely affect the financial condition or operations of the Master Servicer or its properties taken as a whole
or its ability to perform its duties and obligations hereunder;

 

(vi)       No
litigation is pending or, to the best of the Master Servicer’s knowledge, threatened against the Master Servicer which would
prohibit the Master Servicer from entering into this Agreement or, in the Master Servicer’s good faith and reasonable judgment
is likely to materially and adversely affect either the ability of the Master Servicer to perform its obligations under this Agreement
or the financial condition of the Master Servicer;

 

(vii)      No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery and
performance by the Master Servicer of, or compliance by the Master Servicer with, this Agreement or the consummation of the transactions
of the Master Servicer contemplated by this

 

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Agreement, except for any consent, approval, authorization or order which has been
obtained, or which, if not obtained would not have a materially adverse effect on the ability of the Master Servicer to perform
its obligations hereunder; and

 

(viii)     Each
officer and employee of the Master Servicer that has responsibilities concerning the servicing and administration of Mortgage Loans
or Serviced Loan Combinations is covered by errors and omissions insurance and the fidelity bond in the amounts and with the coverage
required by this Agreement.

 

(b)        The
Special Servicer, as Special Servicer, hereby represents and warrants to and covenants with the Trustee, for its own benefit and
the benefit of the Certificateholders, and to the Depositor, the Certificate Administrator, the Master Servicer, the Operating
Advisor and the Serviced Companion Loan Noteholders, as of the Closing Date, that:

 

(i)          The
Special Servicer is a limited liability company, duly organized, validly existing and in good standing under the laws of the State
of Delaware, and the Special Servicer is in compliance with the laws of each state (within the United States of America) in which
any related Mortgaged Property is located to the extent necessary to perform its obligations under this Agreement;

 

(ii)         The
execution and delivery of this Agreement by the Special Servicer, and the performance and compliance with the terms of this Agreement
by the Special Servicer, do not (A) violate the Special Servicer’s organizational documents or (B) constitute a default (or
an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material
agreement or other material instrument to which it is a party or which is applicable to it or any of its assets, or (C) violate
any law, rule, regulation, order, judgment or decree to which the Special Servicer or its property is subject, which, in the case
of either (B) or (C), is likely to materially and adversely affect either the ability of the Special Servicer to perform its obligations
under this Agreement or its financial condition;

 

(iii)        The
Special Servicer has the full limited liability company power and authority to enter into and consummate all transactions to be
performed by it contemplated by this Agreement, has duly authorized the execution, delivery and performance by it of this Agreement,
and has duly executed and delivered this Agreement;

 

(iv)       This
Agreement, assuming due authorization, execution and delivery by the Trustee, the Operating Advisor, the Certificate Administrator,
the Master Servicer and the Depositor, constitutes a valid, legal and binding obligation of the Special Servicer, enforceable against
the Special Servicer in accordance with the terms hereof, subject to applicable bankruptcy, insolvency, reorganization, receivership,
moratorium and other laws affecting the enforcement of creditors’ rights generally, and general principles of equity, regardless
of whether such enforcement is considered in a proceeding in equity or at law;

 

(v)        The
Special Servicer is not in default with respect to any law, any order or decree of any court, or any order, regulation or demand
of any federal, state,

 

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municipal or governmental agency, which default, in the Special Servicer’s reasonable judgment is
likely to materially and adversely affect the financial condition or operations of the Special Servicer or its properties taken
as a whole or its ability to perform its duties and obligations hereunder;

 

(vi)       No
litigation is pending or, to the best of the Special Servicer’s knowledge, threatened against the Special Servicer which
would prohibit the Special Servicer from entering into this Agreement or, in the Special Servicer’s good faith and reasonable
judgment is likely to materially and adversely affect either the ability of the Special Servicer to perform its obligations under
this Agreement or the financial condition of the Special Servicer;

 

(vii)      No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery and
performance by the Special Servicer of, or compliance by the Special Servicer with, this Agreement or the consummation of the transactions
of the Special Servicer contemplated by this Agreement, except for any consent, approval, authorization or order which has been
obtained, or which, if not obtained would not have a materially adverse effect on the ability of the Special Servicer to perform
its obligations hereunder; and

 

(viii)     Each
officer and employee of the Special Servicer that has responsibilities concerning the servicing and administration of Mortgage
Loans or Serviced Loan Combinations is covered by errors and omissions insurance and the fidelity bond in the amounts and with
the coverage required by this Agreement.

 

(c)        It
is understood and agreed that the representations and warranties set forth in this Section shall survive delivery of the respective
Mortgage Files to the Custodian on behalf of the Trustee until the termination of this Agreement, and shall inure to the benefit
of the Trustee, the Depositor, the Certificate Administrator, the Operating Advisor, the Serviced Companion Loan Noteholders and
the Master Servicer or Special Servicer, as the case may be. Upon discovery by the Depositor, a Responsible Officer of the Certificate
Administrator, the Master Servicer, the Special Servicer, the Operating Advisor or a Responsible Officer of the Trustee (or upon
written notice thereof from any Certificateholder) of a breach of any of the representations and warranties set forth in this Section
which materially and adversely affects the interests of the Certificateholders, the Certificate Administrator, the Master Servicer,
Special Servicer, the Operating Advisor, the Serviced Companion Loan Noteholders or the Trustee in any Mortgage Loan, the party
discovering such breach shall give prompt written notice to the other parties hereto, the Serviced Companion Loan Noteholders and
the Mortgage Loan Sellers.

 

(d)        The
Trustee hereby represents and warrants to the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the
Certificate Administrator and the Serviced Companion Loan Noteholders as of the Closing Date, that:

 

(i)          The
Trustee is a national banking association, duly organized, validly existing and in good standing under the laws of the United States
of America and has

 

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full power, authority and legal right to own its properties and conduct its business as presently conducted
and to execute, deliver and perform the terms of this Agreement.

 

(ii)         This
Agreement has been duly authorized, executed and delivered by the Trustee and, assuming due authorization, execution and delivery
by the other parties hereto, constitutes a legal, valid and binding instrument enforceable against the Trustee in accordance with
its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting
the enforcement of creditors’ rights in general and by general equity principles (regardless of whether such enforcement
is considered in a proceeding in equity or at law).

 

(iii)        Neither
the execution and delivery of this Agreement by the Trustee nor the consummation by the Trustee of the transactions herein contemplated
to be performed by the Trustee, nor compliance by the Trustee with the provisions hereof, will conflict with or result in a breach
of, or constitute a default under, any of the provisions of any applicable law (subject to the appointment in accordance with such
applicable law of any co-Trustee or separate Trustee required pursuant to this Agreement), governmental rule, regulation, judgment,
decree or order binding on the Trustee or its properties or the organizational documents of the Trustee or the terms of any material
agreement, instrument or indenture to which the Trustee is a party or by which it is bound which, in the Trustee’s good faith
and reasonable judgment, is likely to affect materially and adversely the ability of the Trustee to perform its obligations under
this Agreement.

 

(iv)       The
Trustee is not in violation of, and the execution and delivery of this Agreement by the Trustee and its performance and compliance
with the terms of this Agreement will not constitute a violation with respect to, any order or decree of any court binding on the
Trustee or any law, order or regulation of any federal, state, municipal or governmental agency having jurisdiction, or result
in the creation or imposition of any lien, charge or encumbrance which, in any such event, would have consequences that would materially
and adversely affect the ability of the Trustee to perform its obligations under this Agreement.

 

(v)        No
consent, approval, authorization or order of, or registration or filing with, or notice to any court or governmental agency or
body, is required for the execution, delivery and performance by the Trustee of or compliance by the Trustee with this Agreement,
or if required, such approval has been obtained prior to the Cut-off Date or which, if not obtained, would have a materially adverse
effect on the Trustee’s ability to perform its obligations hereunder.

 

(vi)       To
the best of the Trustee’s knowledge, no litigation is pending or threatened against the Trustee which would prohibit its
entering into or materially and adversely affect its ability to perform its obligations under this Agreement or the Indemnification
Agreement, dated the Pricing Date, between the Trustee, the Depositor and the Underwriters.

 

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(e)        The
Certificate Administrator hereby represents and warrants to the Depositor, the Trustee, the Master Servicer, the Special Servicer,
the Operating Advisor and the Serviced Companion Loan Noteholders as of the Closing Date, that:

 

(i)          The
Certificate Administrator is a national banking association, duly organized, validly existing and in good standing under the laws
of the United States of America and has full power, authority and legal right to own its properties and conduct its business as
presently conducted and to execute, deliver and perform the terms of this Agreement.

 

(ii)         This
Agreement has been duly authorized, executed and delivered by the Certificate Administrator and, assuming due authorization, execution
and delivery by the other parties hereto, constitutes a legal, valid and binding instrument enforceable against the Certificate
Administrator in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, reorganization
or other similar laws affecting the enforcement of creditors’ rights in general and by general equity principles (regardless
of whether such enforcement is considered in a proceeding in equity or at law).

 

(iii)        Neither
the execution and delivery of this Agreement by the Certificate Administrator nor the consummation by the Certificate Administrator
of the transactions herein contemplated to be performed by the Certificate Administrator, nor compliance by the Certificate Administrator
with the provisions hereof, will conflict with or result in a breach of, or constitute a default under, any of the provisions of
any applicable law, governmental rule, regulation, judgment, decree or order binding on the Certificate Administrator or its properties
or the organizational documents of the Certificate Administrator or the terms of any material agreement, instrument or indenture
to which the Certificate Administrator is a party or by which it is bound which, in the Certificate Administrator’s good
faith and reasonable judgment, is likely to affect materially and adversely the ability of the Certificate Administrator to perform
its obligations under this Agreement.

 

(iv)       The
Certificate Administrator is not in violation of, and the execution and delivery of this Agreement by the Certificate Administrator
and its performance and compliance with the terms of this Agreement will not constitute a violation with respect to, any order
or decree of any court binding on the Certificate Administrator or any law, order or regulation of any federal, state, municipal
or governmental agency having jurisdiction, or result in the creation or imposition of any lien, charge or encumbrance which, in
any such event, would have consequences that are likely to affect materially and adversely the ability of the Certificate Administrator
to perform its obligations under this Agreement.

 

(v)        No
consent, approval, authorization or order of, or registration or filing with, or notice to any court or governmental agency or
body, is required for the execution, delivery and performance by the Certificate Administrator of or compliance by the Certificate
Administrator with this Agreement, or if required, such approval has

 

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been obtained prior to the Cut-off Date or which, if not obtained,
would have a materially adverse effect on the Certificate Administrator’s ability to perform its obligations hereunder.

 

(vi)       To
the best of the Certificate Administrator’s knowledge, no litigation is pending or threatened against the Certificate Administrator
which would prohibit its entering into or materially and adversely affect its ability to perform its obligations under this Agreement
or the Indemnification Agreement, dated the Pricing Date, between the Certificate Administrator, the Depositor and the Underwriters.

 

(f)         The
Operating Advisor hereby represents and warrants to the Trustee, the Depositor, the Certificate Administrator, the Master Servicer,
the Special Servicer and the Serviced Companion Loan Noteholders, as of the Closing Date, that:

 

(i)          The
Operating Advisor is a limited liability company, duly organized, validly existing and in good standing under the laws of the State
of New York and has full power, authority and legal right to own its properties and conduct its business as presently conducted
and to execute, deliver and perform the terms of this Agreement.

 

(ii)         The
execution and delivery of this Agreement by the Operating Advisor, and the performance and compliance with the terms of this Agreement
by the Operating Advisor, do not (A) violate the Operating Advisor’s organizational documents or (B) constitute a default
(or an event which, with notice or lapse of time, or both, would constitute a default) under, or result in the breach of, any material
agreement or other material instrument to which it is a party or which is applicable to it or any of its assets, or (C) violate
any law, rule, regulation, order, judgment or decree to which the Operating Advisor or its property is subject, which, in the case
of either (B) or (C), is likely to materially and adversely affect either the ability of the Operating Advisor to perform its obligations
under this Agreement or its financial condition;

 

(iii)        The
Operating Advisor has the full limited liability company power and authority to enter into and consummate all transactions to be
performed by it contemplated by this Agreement, has duly authorized the execution, delivery and performance by it of this Agreement,
and has duly executed and delivered this Agreement;

 

(iv)       This
Agreement, assuming due authorization, execution and delivery by the Trustee, the Certificate Administrator, the Master Servicer,
the Special Servicer, and the Depositor, constitutes a valid, legal and binding obligation of the Operating Advisor, enforceable
against the Operating Advisor in accordance with the terms hereof, subject to applicable bankruptcy, insolvency, reorganization,
receivership, moratorium and other laws affecting the enforcement of creditors’ rights generally, and general principles
of equity, regardless of whether such enforcement is considered in a proceeding in equity or at law;

 

(v)        The
Operating Advisor is not in default with respect to any law, any order or decree of any court, or any order, regulation or demand
of any federal, state, municipal or governmental agency, which default, in the Operating Advisor’s reasonable

 

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judgment, is
likely to materially and adversely affect the financial condition or operations of the Operating Advisor or its properties taken
as a whole or its ability to perform its duties and obligations hereunder;

 

(vi)       No
litigation is pending or, to the best of the Operating Advisor’s knowledge, threatened against the Operating Advisor which
would prohibit the Operating Advisor from entering into this Agreement or, in the Operating Advisor’s good faith and reasonable
judgment, is likely to materially and adversely affect either the ability of the Operating Advisor to perform its obligations under
this Agreement or the financial condition of the Operating Advisor; and

 

(vii)      No
consent, approval, authorization or order of any court or governmental agency or body is required for the execution, delivery and
performance by the Operating Advisor, or compliance by the Operating Advisor with, this Agreement or the consummation of the transactions
of the Operating Advisor contemplated by this Agreement, except for any consent, approval, authorization or order which has been
obtained, or which, if not obtained would not have a materially adverse effect on the ability of the Operating Advisor to perform
its obligations hereunder.

 

Section 2.05          Execution
and Delivery of Certificates; Issuance of Lower-Tier Regular Interests. The Trustee acknowledges
the assignment to it of the Mortgage Loans and the delivery of the Mortgage Files to the Custodian (to the extent the documents
constituting the Mortgage Files are actually delivered to the Custodian), subject to the provisions of Section 2.01 and Section
2.02 of this Agreement and, concurrently with such delivery, (i) acknowledges and hereby declares that it holds the Mortgage Loans
(excluding the Excess Interest) for the benefit of (y) the Holders of the Class LR Certificates and (z) the Lower-Tier REMIC as
holder of such portions of the Mortgage Loans; (ii) acknowledges and hereby declares that it holds Excess Interest for the benefit
of the Holders of the Class V Certificates; (iii) acknowledges the issuance of the Lower-Tier Regular Interests and the Class LTR
Interest represented thereby and has caused to be executed and caused to be authenticated and delivered to or upon the order of
the Depositor, or as directed by the terms of this Agreement, the Class LR Certificates in authorized denominations, in each case
registered in the names set forth in such order or as so directed in this Agreement and duly authenticated by the Authenticating
Agent; (iv) acknowledges the contribution by the Depositor of the Lower-Tier Regular Interests to the Upper-Tier REMIC and hereby
declares that it holds the Lower-Tier Regular Interests on behalf of the Upper-Tier REMIC and the Holders of the Certificates (other
than the Class V and Class LR Certificates); (v) in exchange for the Lower-Tier Regular Interests, has caused to be executed and
caused to be authenticated and delivered to or upon the order of the Depositor, or as directed by the terms of this Agreement,
the Regular Certificates and Class R Certificates in authorized denominations; and (vi) has caused to be executed and authenticated
and delivered to, or on the order of the Depositor, or as directed by the terms of this Agreement, the Class V Certificates in
authorized denominations, in each case registered in the name set forth in such order or as so directed in this Agreement and duly
authenticated by the Authenticating Agent, the Depositor hereby acknowledges the receipt by it or its designees of the Regular
Certificates and the Residual Certificates, which Certificates evidence ownership of the entire Trust Fund.

 

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The Depositor, as of
the Closing Date, and concurrently with the execution and delivery of this Agreement, does hereby assign without recourse all the
right, title and interest of the Depositor in and to the Excess Interest to the Trustee for the benefit of the holders of the Class
V Certificates. The Trustee (i) acknowledges the assignment to it of the Excess Interest, (ii) declares that it holds and will
hold the Excess Interest in trust for the exclusive use and benefit of all present and future Holders of the Class V Certificates
and (iii) has caused the Certificate Administrator to execute, and has caused the Authenticating Agent to authenticate and to deliver
to or upon the order of the Depositor, in exchange for the Excess Interest, and the Depositor hereby acknowledges the receipt by
it or its designees of the Class V Certificates in authorized Denominations.

 

Section 2.06          Miscellaneous
REMIC and Grantor Trust Provisions. (a) The Lower-Tier
Regular Interests issued hereunder are hereby designated as the “regular interests” in the Lower-Tier REMIC within
the meaning of Section 860G(a)(1) of the Code, and the Class LR Certificates, are hereby designated as the sole class of “residual
interests” in the Lower-Tier REMIC within the meaning of Section 860G(a)(2) of the Code. The Regular Certificates are hereby
designated as “regular interests” in the Upper-Tier REMIC within the meaning of Section 860G(a)(1) of the Code, and
the Class R Certificates are hereby designated as the sole Class of “residual interests” in the Upper-Tier REMIC within
the meaning of Section 860G(a)(2) of the Code. The Closing Date is hereby designated as the “Startup Day” of each Trust
REMIC within the meaning of Section 860G(a)(9) of the Code. The “latest possible maturity date” of the Lower-Tier Regular
Interests and the Regular Certificates for purposes of Section 860G(a)(l) of the Code is the Rated Final Distribution Date.

 

(b)        None
of the Depositor, the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer shall enter into any
arrangement by which the Trust Fund will receive a fee or other compensation for services other than as specifically contemplated
herein.

 

(c)        The
Class V Certificates shall represent undivided beneficial interests in the portion of the Trust Fund consisting of the Class V
Specific Grantor Trust Assets. The Grantor Trust shall be treated as a “grantor trust” within the meaning of subpart
E, part I of subchapter J of the Code.

 

Article
III

ADMINISTRATION AND SERVICING

OF THE TRUST FUND

 

Section 3.01          The Master
Servicer To Act as Master Servicer; Special Servicer To Act as Special Servicer; Administration of the Mortgage Loans and the Serviced
Companion Loans. (a) The Master Servicer
(generally with respect to Mortgage Loans (other than a Non-Serviced Mortgage Loan) and Serviced Companion Loans that are not Specially
Serviced Loans) and the Special Servicer (generally with respect to Specially Serviced Loans and Serviced REO Loans), each as an
independent contractor servicer, shall service and administer the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and
Serviced

 

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Companion
Loans on behalf of the Trust Fund and the Trustee (as Trustee for the Certificateholders) and, in the case of any Serviced Loan
Combination, the related Serviced Companion Loan Noteholders, (as a collective whole as if such Certificateholders and Serviced
Companion Loan Noteholders, as applicable, constituted a single lender (and with respect to any Serviced Loan Combination with
a related Serviced Subordinate Companion Loan, taking into account the subordinate nature of such Serviced Subordinate Companion
Loan)), in each case, in accordance with the Servicing Standard.

 

The Master Servicer’s
or Special Servicer’s liability for actions and omissions in its capacity as Master Servicer or Special Servicer, as the
case may be, hereunder is limited as provided herein (including, without limitation, pursuant to Section 6.03 hereof). To the extent
consistent with the foregoing and subject to any express limitations set forth in this Agreement, the Master Servicer and Special
Servicer shall seek to maximize the timely and complete recovery of principal and interest on the Notes; provided that nothing
herein contained shall be construed as an express or implied guarantee by the Master Servicer or Special Servicer of the collectability
of the Mortgage Loans or the Serviced Companion Loans. Subject only to the Servicing Standard, the Master Servicer and Special
Servicer shall have full power and authority, acting alone or through sub-servicers (subject to paragraph (c) of this Section 3.01,
to the related sub-servicing agreement with each sub-servicer and to Section 3.01(e) of this Agreement), to do or cause to be done
any and all things in connection with such servicing and administration that it may deem consistent with the Servicing Standard
and, in its reasonable judgment, in the best interests of the Certificateholders, including, without limitation, with respect to
each Mortgage Loan (other than any Non-Serviced Mortgage Loan, and in the case of the Serviced Loan Combinations, in the best interests
of the Certificateholders and the Serviced Companion Loan Noteholders, as a collective whole as if such Certificateholders and
(with respect to a Serviced Loan Combination) Serviced Companion Loan Noteholders constituted a single lender (and with respect
to any Serviced Loan Combination with a related Serviced Subordinate Companion Loan, taking into account the subordinate nature
of such Serviced Subordinate Companion Loan)) to prepare, execute and deliver, on behalf of the Certificateholders and Serviced
Companion Loan Noteholders and the Trustee or any of them: (i) any and all financing statements, continuation statements and other
documents or instruments necessary to maintain the lien on each Mortgaged Property and related collateral; (ii) any modifications,
waivers, consents or amendments to or with respect to any documents contained in the related Mortgage File; and (iii) any and all
instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments,
with respect to such Mortgage Loans and the Mortgaged Properties. Notwithstanding the foregoing, neither the Master Servicer nor
the Special Servicer shall modify, amend, waive or otherwise consent to any change of the terms of any Mortgage Loan except under
the circumstances described in Section 3.03, Section 3.09, Section 3.10, Section 3.24, Section 3.25, Section 3.26 and Section 3.27
hereof. The Master Servicer (with respect to Mortgage Loans (other than a Non-Serviced Mortgage Loan) and Serviced Companion Loans
that are not Specially Serviced Loans) and the Special Servicer (with respect to Specially Serviced Loans and Serviced REO Loans)
shall provide to the Borrowers related to such Mortgage Loans that it is servicing any reports required to be provided to them
pursuant to the related Loan Documents. Subject to Section 3.11 of this Agreement, the Trustee shall, upon the receipt of a written
request of a Servicing Officer, execute and deliver to the Master Servicer and Special Servicer, as applicable, any powers of attorney
(in the form attached hereto as

 

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Exhibit
CC-1 and Exhibit CC-2, as applicable, or such other form as mutually agreed to by the Trustee and the Master Servicer
or the Special Servicer, as applicable) and other documents (including but not limited to other powers of attorney) prepared by
the Master Servicer and Special Servicer, as applicable, and necessary or appropriate (as certified in such written request) to
enable the Master Servicer and Special Servicer, as applicable, to carry out their servicing and administrative duties hereunder.
The Trustee shall not be held liable for any misuse of any such power of attorney or such other documents by the Master Servicer
and Special Servicer, as applicable. Notwithstanding anything contained herein to the contrary, none of the Master Servicer or
the Special Servicer shall, without the Trustee’s written consent: (i) initiate any action, suit or proceeding solely under
the Trustee’s name without indicating the Master Servicer’s or the Special Servicer’s, as the case may be, representative
capacity (unless prohibited by any requirement of the applicable jurisdiction in which any such action, suit or proceeding is
brought and if so prohibited, in the manner required by such jurisdiction (provided that the Master Servicer or the Special Servicer,
as applicable, shall then provide five (5) Business Days’ written notice to the Trustee of the initiation of such action,
suit or proceeding (or such shorter time period as is reasonably required in the judgment of the Master Servicer or the Special
Servicer, as applicable, made in accordance with the Servicing Standard) prior to filing such action, suit or proceeding), and
shall not be required to obtain the Trustee’s consent or indicate the Master Servicer’s or the Special Servicer’s,
as applicable, representative capacity); or (ii) take any action with the intent to cause, and that actually causes, the Trustee
to be registered to do business in any state.

 

(b)        Unless
otherwise provided in the related Note or related Intercreditor Agreement, the Master Servicer shall apply any partial Principal
Prepayment received on a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Companion Loan, as applicable, on
a date other than a Due Date to the Stated Principal Balance of such Mortgage Loan (other than a Non-Serviced Mortgage Loan) or
Serviced Companion Loan, as applicable, as of the Due Date immediately following the date of receipt of such partial Principal
Prepayment. Unless otherwise provided in the related Note or related Intercreditor Agreement, the Master Servicer shall apply any
amounts received on U.S. Treasury obligations in respect of a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Companion Loan, as applicable, being defeased pursuant to its terms to the Stated Principal Balance of and interest on such Mortgage
Loan or Serviced Companion Loan, as applicable, as of the Due Date immediately following the receipt of such amounts.

 

(c)        The
Master Servicer and the Special Servicer, may enter into Sub-Servicing Agreements with third parties with respect to any of its
respective obligations hereunder, provided that (i) any such agreement requires the Sub-Servicer to comply in all material
respects with all of the applicable terms and conditions of this Agreement and shall be consistent with the provisions of this
Agreement, the terms of the respective Loan Documents and, in the case of a Serviced Companion Loan, the related Intercreditor
Agreement, (ii) if such Sub-Servicer is a Servicing Function Participant or an Additional Servicer, any such agreement provides
that (x) the failure of such Sub-Servicer to comply with any of the requirements under Article X of this Agreement applicable to
such Sub-Servicer, including the failure to deliver any reports or certificates at the time such report or certification is required
under Article X and (y) the failure of such Sub-Servicer to comply with any requirements to deliver any items required by Items
1122 and 1123 of Regulation AB under any other pooling

 

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and
servicing agreement relating to any other series of certificates offered by the Depositor shall constitute an event of default
by such Sub-Servicer upon the occurrence of which the Master Servicer shall (and the Depositor may) immediately terminate the
related Sub-Servicer under the related Sub-Servicing Agreement, which termination shall be deemed for cause, (iii) no Sub-Servicer
retained by the Master Servicer or the Special Servicer, as applicable, shall grant any modification, waiver or amendment to any
Mortgage Loan or Serviced Companion Loan, as applicable, or foreclose any Mortgage without the approval of the Master Servicer
or the Special Servicer, as applicable, which approval shall be given or withheld in accordance with the procedures set forth
in Section 3.09, Section 3.10, Section 3.24, Section 3.24, Section 3.26, Section 3.27, (as applicable), (iv) such agreement shall
be consistent with the Servicing Standard and (v) with respect to any Sub-Servicing Agreement entered into after the Closing Date,
if such Sub-Servicer is a Servicing Function Participant or an Additional Servicer, such Sub-Servicer, at the time the related
Sub-Servicing Agreement is entered into, is not a Prohibited Party. Any such Sub-Servicing Agreement may permit the Sub-Servicer
to delegate its duties to agents or Subcontractors so long as the related agreements or arrangements with such agents or Subcontractors
are consistent with the provisions of this Section 3.01(c) (including, for the avoidance of doubt, that no such agent or Subcontractor
is a Prohibited Party, if such agent or Subcontractor would be a Servicing Function Participant, at the time the related sub-servicing
agreement is entered into). Any monies received by a Sub-Servicer pursuant to a Sub-Servicing agreement (other than sub-servicing
fees) shall be deemed to be received by the Master Servicer on the date received by such Sub-Servicer.

 

Any Sub-Servicing Agreement
entered into by the Master Servicer or the Special Servicer, as applicable, shall provide that it may be assumed by the Trustee
(in its sole discretion, but must be assumed with respect to any Mortgage Loan Seller Sub-Servicer so long as such Mortgage Loan
Seller Sub-Servicer is not in default under the applicable Sub-Servicing Agreement) if the Trustee has assumed the duties of the
Master Servicer or the Special Servicer, respectively, or any successor Master Servicer or Special Servicer, as applicable, without
cost or obligation to the assuming party or the Trust Fund, upon the assumption by such party of the obligations, except to the
extent they arose prior to the date of assumption, of the Master Servicer or the Special Servicer, as applicable, pursuant to Section
7.02 (it being understood that any such obligations shall be the obligations of the terminated Master Servicer or Special Servicer,
as applicable, only).

 

Any Sub-Servicing Agreement,
and any other transactions or services relating to the Mortgage Loans or the Serviced Companion Loans involving a Sub-Servicer,
shall be deemed to be between the Master Servicer or the Special Servicer, as applicable, and such Sub-Servicer alone, and the
Trustee, the Certificate Administrator, the Trust Fund, the Operating Advisor, the Certificateholders and, if applicable, Serviced
Companion Loan Noteholders shall not be deemed parties thereto and shall have no claims, rights (except as specified below), obligations,
duties or liabilities with respect to the Sub-Servicer, except as set forth in Section 3.01(c)(ii) and Section 3.01(d).

 

Any Sub-Servicing Agreement
as to which a Mortgage Loan Seller required the Master Servicer to enter into shall provide that the Master Servicer (and any successor
Master Servicer) or Trustee may only terminate the related Mortgage Loan Seller Sub-Servicer for

 

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cause
pursuant to such Sub-Servicing Agreement and as otherwise specified in such Sub-Servicing Agreement.

 

In the case of the Limited
Sub-Servicing Agreement, dated as of October 1, 2015, between the Master Servicer and Berkeley Point Capital LLC (“Berkeley
Point”), in the event such agreement is terminated, the Master Servicer shall continue to pay to Berkeley Point the servicing
fees that would have been due to Berkeley Point under such agreement as though such agreement remained in full force and effect;
provided that such servicing fees shall be paid solely out of the Servicing Fee and only for so long as the Master Servicer receives
a Servicing Fee pursuant to this Agreement.

 

Notwithstanding the provisions
of any Sub-Servicing Agreement and this Section 3.01, in no event shall the Trust Fund, the Trustee, the Certificate Administrator,
the Depositor or any Serviced Companion Loan Noteholder bear any termination fee required to be paid to any Sub-Servicer as a result
of the termination of any Sub-Servicing Agreement.

 

Notwithstanding any other
provision of this Agreement, the Special Servicer shall not enter into any Sub-Servicing Agreement which provides for the performance
by third parties of any or all of its obligations herein, without the consent of the Directing Holder for so long as no Control
Termination Event has occurred and is continuing, except to the extent necessary for the Special Servicer to comply with applicable
regulatory requirements.

 

(d)        If
the Trustee or any successor Master Servicer assumes the obligations of the Master Servicer, or if the Trustee or any successor
Special Servicer assumes the obligations of the Special Servicer, in each case in accordance with Section 7.02, the Trustee, the
successor Master Servicer or such successor Special Servicer, as applicable, to the extent necessary to permit the Trustee, the
successor Master Servicer or such successor Special Servicer, as applicable, to carry out the provisions of Section 7.02, shall,
without act or deed on the part of the Trustee, the successor Master Servicer or such successor Special Servicer, as applicable,
succeed to all of the rights and obligations of the Master Servicer or the Special Servicer, as applicable, under any Sub-Servicing
Agreement entered into by the Master Servicer or the Special Servicer, as applicable, pursuant to Section 3.01(c). In such event,
such successor shall be deemed to have assumed all of the Master Servicer’s or the Special Servicer’s interest, as
applicable, therein (but not any liabilities or obligations in respect of acts or omissions of the Master Servicer or the Special
Servicer, as applicable, prior to such deemed assumption) and to have replaced the Master Servicer or the Special Servicer, as
applicable, as a party to such Sub-Servicing Agreement to the same extent as if such Sub-Servicing Agreement had been assigned
to such successor, except that the Master Servicer or the Special Servicer, as applicable, shall not thereby be relieved of any
liability or obligations under such Sub-Servicing Agreement that accrued prior to the succession of such successor.

 

If the Trustee or any
successor Master Servicer or Special Servicer, as applicable, assumes the servicing obligations of the Master Servicer or the Special
Servicer, as applicable, then upon request of such successor, the Master Servicer or Special Servicer, as applicable, shall at
its own expense (except (i) in the event that the Special Servicer is terminated pursuant to Section 3.22(b), at the expense of
the Certificateholders effecting such termination, as applicable; or (ii) in the event that the Master Servicer or the Special
Servicer is

 

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terminated
pursuant to Section 6.04(c), at the expense of the Trust) deliver to such successor all documents and records relating to any
Sub-Servicing Agreement and the Mortgage Loans and/or the Serviced Companion Loans, as applicable, then being serviced hereunder
or thereunder and an accounting of amounts collected and held by it, if any, and shall otherwise use commercially reasonable efforts
to effect the orderly and efficient transfer of any Sub-Servicing Agreement to such successor. Neither the Master Servicer nor
the Special Servicer shall be required to assume the obligations of the other and nothing in this paragraph shall imply otherwise.

 

(e)        The
parties hereto acknowledge that each Loan Combination is subject to the terms and conditions of the related Intercreditor Agreement
and, with respect to a Non-Serviced Mortgage Loan, further subject to the servicing under and all other terms and conditions of
the Other Pooling and Servicing Agreement. The parties hereto further recognize the respective rights and obligations of each Companion
Loan Noteholder under the related Intercreditor Agreement, including, without limitation with respect to (A) the allocation of
collections (and all other amounts received in connection with the related Loan Combination) on or in respect of the related Mortgage
Loan and (B) the allocation of Default Interest on or in respect of the related Mortgage Loan.

 

Notwithstanding anything
herein to the contrary, the parties hereto acknowledge and agree that the Master Servicer’s and the Special Servicer’s
obligations and responsibilities hereunder and the Master Servicer’s and the Special Servicer’s authority with respect
to the Serviced Loan Combinations are limited by and subject to the terms of the related Intercreditor Agreement and, with respect
to any Non-Serviced Mortgage Loan, the rights of the Other Servicer and the Other Special Servicer under the Other Pooling and
Servicing Agreement. The Master Servicer shall, consistent with the applicable Servicing Standard, enforce the rights of the Trustee
(as holder of a Non-Serviced Mortgage Loan) under the related Intercreditor Agreement and the Other Pooling and Servicing Agreement.
The parties hereto acknowledge that each Non-Serviced Loan Combination and any related REO Property are being serviced and administered
under the related Other Pooling and Servicing Agreement and the Other Servicer will make any property advances required thereunder
in respect of such Non-Serviced Loan Combination and remit collections on the Non-Serviced Mortgage Loan to or on behalf of the
Trust. None of the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee shall have any obligation
or authority to supervise the related Other Servicer, the related Other Special Servicer or the related Other Trustee or to make
Property Advances with respect to any such Non-Serviced Loan Combination. Although each Non-Serviced Loan Combination is being
serviced under the related Other Pooling and Servicing Agreement, the Controlling Class Representative may have certain information
and consultation rights relating to the servicing of the Non-Serviced Loan Combination pursuant to the terms of the related Intercreditor
Agreement and the related Other Pooling and Servicing Agreement. Any obligation of the Master Servicer or Special Servicer, as
applicable, to provide information and collections to the Trustee, the Certificate Administrator and the Certificateholders with
respect to any Non-Serviced Loan Combination shall be dependent on its receipt of the corresponding information and collections
from the related Other Servicer or the related Other Special Servicer. Nothing herein shall be deemed to override the provisions
of an Intercreditor Agreement with respect to the rights of the related noteholders thereunder and with respect to the servicing
and administrative duties and obligations with respect to such Non-Serviced Loan

 

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Combinations.
In the event of any inconsistency or discrepancy between the provisions, terms or conditions of an Intercreditor Agreement related
to a Non-Serviced Loan Combination and the provisions, terms or conditions of this Agreement, the related Intercreditor Agreement
shall govern.

 

If any Mortgage Loan
included in any Serviced Loan Combination is no longer part of the Trust Fund and the servicing and administration of such Serviced
Loan Combination is to be governed by a separate servicing agreement and not by this Agreement, the Master Servicer and, if such
Serviced Loan Combination is then being specially serviced hereunder, the Special Servicer, shall continue to act in such capacities
under such separate servicing agreement, which agreement shall be reasonably acceptable to the Master Servicer and/or the Special
Servicer, as the case may be, and shall contain servicing and administration, limitation of liability, indemnification and servicing
compensation provisions substantially similar to the corresponding provisions of this Agreement, except that such Serviced Loan
Combination and the related Mortgaged Property shall be serviced as if they were the sole assets serviced and administered thereunder
and the sole source of funds thereunder and except that there shall be no further obligation of any Person to make P&I Advances.
All amounts due the Master Servicer and the Special Servicer (including Advances and interest thereon) pursuant to this Agreement
and the applicable Intercreditor Agreement shall be paid to the Master Servicer and the Special Servicer by the successor Master
Servicer or Special Servicer, as applicable, or as an Additional Trust Fund Expense on the first Servicer Remittance Date following
termination. In addition, until such time as a separate servicing agreement with respect to such Serviced Loan Combination and
any related Serviced REO Property has been entered into and, notwithstanding that neither such Mortgage Loan nor any related Serviced
REO Property is part of the Trust Fund, the Custodian shall continue to hold the Mortgage File and the Master Servicer and, if
applicable, the Special Servicer shall (subject to the preceding sentence) continue to service such Serviced Loan Combination or
any related Serviced REO Property, as the case may be, under this Agreement as if it were a separate servicing agreement. Nothing
herein shall be deemed to override the provisions of an Intercreditor Agreement with respect to the rights of the related noteholders
thereunder and with respect to the servicing and administrative duties and obligations with respect to such Serviced Loan Combinations.
In the event of any inconsistency or discrepancy between the provisions, terms or conditions of an Intercreditor Agreement related
to a Serviced Loan Combination and the provisions, terms or conditions of this Agreement, the related Intercreditor Agreement shall
govern, and as to any matter relating to the servicing of a Serviced Loan Combination as a whole on which such Intercreditor Agreement
is silent or makes reference to this Agreement, this Agreement shall govern.

 

Section 3.02          Liability
of the Master Servicer and the Special Servicer When Sub-Servicing. Notwithstanding any
Sub-Servicing Agreement, any of the provisions of this Agreement relating to agreements or arrangements between the Master Servicer
or Special Servicer, as applicable, and any Person acting as sub-servicer (or its agents or Subcontractors) or any reference to
actions taken through any Person acting as sub-servicer or otherwise, the Master Servicer or the Special Servicer, as applicable,
shall remain obligated and primarily liable to the Trustee (on behalf of the Certificateholders), the Certificateholders and, with
respect to the Serviced Loan Combinations, the Serviced Companion Loan Noteholders, for the servicing and administering of the
Mortgage Loans and Serviced Companion Loans in

 

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accordance
with the provisions of this Agreement without diminution of such obligation or liability by virtue of such sub-servicing agreements
or arrangements or by virtue of indemnification from the Depositor or any other Person acting as sub-servicer (or its agents or
Subcontractors) to the same extent and under the same terms and conditions as if the Master Servicer or the Special Servicer,
as applicable, alone were servicing and administering the Mortgage Loans and Serviced Companion Loans. Each of the Master Servicer
and the Special Servicer shall be entitled to enter into an agreement with any sub-servicer providing for indemnification of the
Master Servicer or the Special Servicer, as applicable, by such sub-servicer, and nothing contained in this Agreement shall be
deemed to limit or modify such indemnification, but no such agreement for indemnification shall be deemed to limit or modify this
Agreement.

 

Section 3.03          Collection
of Mortgage Loan and Serviced Companion Loan Payments. The Master Servicer (with
respect to all the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and the Serviced Companion Loans (other than Specially
Serviced Loans) that the Master Servicer is Servicing) and the Special Servicer (with respect to Specially Serviced Loans) shall
use reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans (other than the
Non-Serviced Mortgage Loans) and the Serviced Companion Loans each is obligated to service hereunder, and shall follow the Servicing
Standard with respect to such collection procedures; provided, that nothing herein contained shall be construed as an express
or implied guarantee by the Master Servicer or the Special Servicer of the collectability of the Mortgage Loans or the Serviced
Companion Loans; provided, further, that with respect to such Mortgage Loans (other than a Non-Serviced Mortgage Loan) or Serviced
Loan Combinations, as applicable, that have Anticipated Repayment Dates, so long as the related Borrower is in compliance with
each provision of the related Loan Documents, the Master Servicer and Special Servicer (including the Special Servicer in its capacity
as a Certificateholder, if applicable) shall not take any enforcement action with respect to the failure of the related Borrower
to make any payment of Excess Interest, other than requests for collection, until the final maturity date of such Mortgage Loan
or Serviced Loan Combination, as applicable, or the outstanding principal balance of such Mortgage Loan or Serviced Loan Combination,
as applicable, has been paid in full, however, consistent with the applicable Servicing Standard, the Master Servicer, or the Special
Servicer each may in its discretion waive the Excess Interest (even at the final maturity date) in connection with any Mortgage
Loan it is obligated to service hereunder if taking such action is in the best interest of the Certificateholders as a collective
whole. With respect to each Performing Loan (other than a Non-Serviced Mortgage Loan), the Master Servicer shall use its reasonable
efforts, consistent with the Servicing Standard, to collect income statements and rent rolls from Borrowers as required by the
Loan Documents and the terms hereof. The Master Servicer shall provide at least 90 days’ notice (with a copy to the Special
Servicer) to the Borrowers of Balloon Payments coming due on Performing Loans (other than a Non-Serviced Mortgage Loan). Consistent
with the foregoing, the Master Servicer (with respect to each Performing Loan) or the Special Servicer (with respect to Specially
Serviced Loans) may in their discretion waive any late payment charge or Default Interest in connection with any delinquent Monthly
Payment or Balloon Payment with respect to any Mortgage Loan or Serviced Companion Loan that it is servicing. In addition, the
Special Servicer shall be entitled to take such actions with respect to the collection of payments on the Mortgage Loans and the
Serviced Companion Loans as are permitted or required under this Agreement.

 

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Section 3.04          Collection
of Taxes, Assessments and Similar Items; Escrow Accounts. (a) The Master Servicer,
in the case of all Mortgage Loans (other than a Non-Serviced Mortgage Loan) and Serviced Loan Combinations that it is servicing,
shall maintain accurate records with respect to each related Mortgaged Property reflecting the status of taxes, assessments and
other similar items that are or may become a lien thereon and the status of insurance premiums payable with respect thereto. With
respect to each Specially Serviced Loan, the Special Servicer shall use its reasonable efforts, consistent with the Servicing Standard,
to collect income statements and rent rolls from Borrowers as required by the Loan Documents. The Special Servicer, in the case
of Serviced REO Loans, and the Master Servicer, in the case of all Mortgage Loans (other than a Non-Serviced Mortgage Loan) and
Serviced Loan Combinations that it is servicing, shall use reasonable efforts consistent with the Servicing Standard to, from time
to time, (i) obtain all bills for the payment of such items (including renewal premiums), and (ii) effect, or, if the Special Servicer,
to use reasonable efforts to cause the Master Servicer to effect, payment of all such bills with respect to such Mortgaged Properties
prior to the applicable penalty or termination date, in each case employing for such purpose Escrow Payments as allowed under the
terms of the related Loan Documents for the related Mortgage Loan or Serviced Companion Loan. If a Borrower under a Mortgage Loan
(other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination fails to make any such payment on a timely basis or collections
from the Borrower are insufficient to pay any such item before the applicable penalty or termination date, the Master Servicer
shall advance the amount of any shortfall as a Property Advance unless the Master Servicer determines in accordance with the Servicing
Standard that such Advance would be a Nonrecoverable Advance (provided that with respect to advancing insurance premiums
or delinquent tax assessments the Master Servicer shall comply with the provisions of the second to last paragraph in Section 3.21(d)
of this Agreement). The Master Servicer shall be entitled to reimbursement of Property Advances, with interest thereon at the Advance
Rate, that it makes pursuant to this Section 3.04 of this Agreement from amounts received on or in respect of the related Mortgage
Loan or Serviced Loan Combination respecting which such Advance was made or if such Advance has become a Nonrecoverable Advance,
to the extent permitted by Section 3.06 of this Agreement. No costs incurred by the Master Servicer in effecting the payment of
taxes and assessments on the Mortgaged Properties shall, for the purpose of calculating distributions to Certificateholders or
Serviced Companion Loan Noteholders, be added to the amount owing under the related Mortgage Loans or Serviced Companion Loans,
notwithstanding that the terms of such Mortgage Loans or Serviced Companion Loans so permit.

 

The parties acknowledge
that with respect to Non-Serviced Mortgage Loans, the Other Servicer is obligated to make (or any other service provider provided
for in the related Other Pooling and Servicing Agreement may make) property advances with respect to such Non-Serviced Mortgage
Loans pursuant to the related Other Pooling and Servicing Agreement. The Other Servicer (or other service provider) shall be entitled
to reimbursement for nonrecoverable property advances (as such term or similar term may be defined in the related Other Pooling
and Servicing Agreement) with, in each case, any accrued and unpaid interest thereon provided for under the related Other Pooling
and Servicing Agreement in the manner set forth in such Other Pooling and Servicing Agreement, the related Intercreditor Agreement
and Section 3.06(a)(v) of this Agreement.

 

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(b)        The
Master Servicer shall segregate and hold all funds collected and received pursuant to any Mortgage Loan (other than any Non-Serviced
Mortgage Loans) or any Serviced Companion Loan that it is servicing constituting Escrow Payments separate and apart from any of
its own funds and general assets and shall establish and maintain one or more segregated custodial accounts (each, an “Escrow
Account”) into which all Escrow Payments shall be deposited within two (2) Business Days after receipt of properly identified
funds and maintained in accordance with the requirements of the related Mortgage Loan or Serviced Loan Combination, as applicable,
and in accordance with the Servicing Standard. The Master Servicer shall also deposit into each Escrow Account any amounts representing
losses on Permitted Investments to the extent required pursuant to Section 3.07(b) of this Agreement and any Insurance Proceeds
or Liquidation Proceeds which are required to be applied to the restoration or repair of any Mortgaged Property pursuant to the
related Mortgage Loan or Serviced Loan Combination. Escrow Accounts shall be Eligible Accounts (except to the extent the related
Loan Documents require it to be held in an account that is not an Eligible Account); provided, if the ratings of the financial
institution holding such account are downgraded to a ratings level below that of an Eligible Account (except to the extent the
related Loan Documents require it to be held in an account that is not an Eligible Account), the Master Servicer shall have 30
days (or such longer time as confirmed by a No Downgrade Confirmation, obtained at the expense of the Master Servicer relating
to the Certificates and any related Serviced Companion Loan Securities) to transfer such account to an Eligible Account. Escrow
Accounts shall be entitled, “Wells Fargo Bank, National Association, as Master Servicer, on behalf of Wilmington Trust, National
Association, as Trustee, for the benefit of the Holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates
and Various Borrowers and, if applicable, Serviced Companion Loan Noteholders”. Withdrawals from an Escrow Account may be
made by the Master Servicer only:

 

(i)          to
effect timely payments of items constituting Escrow Payments for the related Mortgage;

 

(ii)         to
transfer funds to the Collection Account and/or the applicable Serviced Loan Combination Collection Account (or any sub-account
thereof) to reimburse the Master Servicer or the Trustee for any Property Advance (with interest thereon at the Advance Rate) relating
to Escrow Payments, but only from amounts received with respect to the related Mortgage Loan and/or Serviced Loan Combination,
as applicable, which represent late collections of Escrow Payments thereunder;

 

(iii)        for
application to the restoration or repair of the related Mortgaged Property in accordance with the related Mortgage Loan and/or
Serviced Loan Combination, as applicable, and the Servicing Standard;

 

(iv)       to
clear and terminate such Escrow Account upon the termination of this Agreement or pay-off of the related Mortgage Loan and/or Serviced
Loan Combination, as applicable;

 

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(v)        to
pay from time to time to the related Borrower any interest or investment income earned on funds deposited in the Escrow Account
if such income is required to be paid to the related Borrower under law or by the terms of the Loan Documents for such Mortgage
Loan or Serviced Loan Combination, or otherwise to the Master Servicer; or

 

(vi)       to
remove any funds deposited in an Escrow Account that were not required to be deposited therein or to refund amounts to Borrowers
determined to be overages.

 

(c)        The
Master Servicer shall, as to each Mortgage Loan (other than any Non-Serviced Mortgage Loan) and each Serviced Companion Loan that
it is servicing, (i) maintain accurate records with respect to the related Mortgaged Property reflecting the status of real estate
taxes, assessments and other similar items that are or may become a lien thereon and the status of insurance premiums and any ground
rents payable in respect thereof and (ii) use reasonable efforts to obtain, from time to time, all bills for (or otherwise confirm)
the payment of such items (including renewal premiums) and, for such Mortgage Loans and Serviced Companion Loans that require the
related Borrower to escrow for such items, shall effect payment thereof prior to the applicable penalty or termination date. For
purposes of effecting any such payment for which it is responsible, the Master Servicer shall apply Escrow Payments as allowed
under the terms of the related Loan Documents for such Mortgage Loan and Serviced Companion Loan (or, if such Mortgage Loan or
Serviced Companion Loan does not require the related Borrower to escrow for the payment of real estate taxes, assessments, insurance
premiums, ground rents (if applicable) and similar items, the Master Servicer shall use reasonable efforts consistent with the
Servicing Standard to cause the related Borrower to comply with the requirement of the related Loan Documents that the Borrower
make payments in respect of such items at the time they first become due and, in any event, prior to the institution of foreclosure
or similar proceedings with respect to the related Mortgaged Property for nonpayment of such items). Subject to Section 3.21 of
this Agreement, the Master Servicer shall timely make a Property Advance with respect to the Mortgage Loans (other than Non-Serviced
Mortgage Loans) and Serviced Loan Combinations that it is servicing, if any, to cover any such item which is not so paid, including
any penalties or other charges arising from the Borrower’s failure to timely pay such items.

 

Section 3.05          Collection
Accounts; Excess Liquidation Proceeds Account; Distribution Accounts; Interest Reserve Account and Serviced Loan Combination Collection
Accounts. (a) The Master Servicer
shall establish and maintain a Collection Account, for the benefit of the Certificateholders and the Trustee as the Holder of the
Lower-Tier Regular Interests with respect to the Mortgage Loans that it is servicing. The Collection Account shall be established
and maintained as an Eligible Account. Amounts in the Collection Account attributable to the Mortgage Loans (other than Excess
Interest) will be assets of the Lower-Tier REMIC and amounts attributable to Excess Interest will be assets of the Grantor Trust.
Amounts attributable to the Companion Loans will not be assets of the Trust Fund.

 

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The Master Servicer shall
deposit or cause to be deposited in the Collection Account within two Business Days following receipt of properly identified funds
of the following payments and collections received or made by or on behalf of it on or with respect to the Mortgage Loans subsequent
to the Cut-off Date:

 

(i)         all
payments on account of principal on the Mortgage Loans (other than any Mortgage Loan related to a Serviced Loan Combination), including
the principal component of all Unscheduled Payments;

 

(ii)        all
payments on account of interest on the Mortgage Loans (other than any Mortgage Loan related to a Serviced Loan Combination) (net
of the related Servicing Fees), including Prepayment Premiums, Default Interest, Yield Maintenance Charges, Excess Interest and
the interest component of all Unscheduled Payments;

 

(iii)       any
amounts required to be deposited pursuant to Section 3.07(b) of this Agreement, in connection with net losses realized on Permitted
Investments with respect to funds held in the Collection Account;

 

(iv)       all
Net REO Proceeds withdrawn from the related REO Account (other than the Serviced Loan Combination REO Account) pursuant to Section
3.15(b) of this Agreement;

 

(v)        any
amounts received from Borrowers which represent recoveries of Property Protection Expenses and are allocable to the Mortgage Loans
(other than any Mortgage Loan related to a Serviced Loan Combination), to the extent not permitted to be retained by the Master
Servicer as provided herein;

 

(vi)       all
Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds received in respect of any Mortgage Loan (other than any Mortgage
Loan related to a Serviced Loan Combination) or any REO Property (other than a Serviced REO Property related to a Serviced Loan
Combination), other than Excess Liquidation Proceeds and Liquidation Proceeds that are received in connection with a purchase of
all the Mortgage Loans and any REO Properties in the Trust Fund and that are to be deposited in the Lower-Tier Distribution Account
pursuant to Section 9.01 of this Agreement, together with any amounts representing recoveries of Nonrecoverable Advances, including
any recovery of Unliquidated Advances, in respect of the related Mortgage Loans (other than any Mortgage Loan related to a Serviced
Loan Combination); provided, that any Liquidation Proceeds related to a sale, pursuant to Section 3.16 hereof or pursuant
to the related Intercreditor Agreement, of a Mortgage Loan included in a Serviced Loan Combination shall be deposited directly
into the Collection Account and applied solely to pay expenses relating to that Mortgage Loan and to Available Funds;

 

(vii)      Penalty
Charges on the Mortgage Loans (other than any Mortgage Loan related to a Serviced Loan Combination) to the extent required to offset
interest on Advances and Additional Trust Fund Expenses pursuant to Section 3.12(d) of this Agreement;

 

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(viii)     any
amounts required to be deposited by the Master Servicer or the Special Servicer pursuant to Section 3.08(b) of this Agreement in
connection with losses resulting from a deductible clause in a blanket or master force-placed policy in respect of the Mortgage
Loans (other than any Mortgage Loan related to a Serviced Loan Combination);

 

(ix)        any
other amounts required by the provisions of this Agreement (including without limitation any amounts to be transferred from the
Serviced Loan Combination Collection Account pursuant to Section 3.06(b)(i)(B) and, with respect to the Companion Loans or any
mezzanine indebtedness that may exist on a future date, all amounts received pursuant to the cure and purchase rights or reimbursement
obligations set forth in the related Intercreditor Agreement or mezzanine intercreditor agreement, as applicable, other than in
respect of a Serviced Loan Combination) to be deposited into the Collection Account by the Master Servicer or Special Servicer;

 

(x)         any
Master Servicer Prepayment Interest Shortfall Amounts in respect of the Mortgage Loans that the Master Servicer is servicing (other
than any Non-Serviced Mortgage Loan or any Mortgage Loan related to a Serviced Loan Combination) pursuant to Section 3.17(c) of
this Agreement;

 

(xi)        any
Loss of Value Payments, as set forth in Section 3.06(e) of this Agreement; and

 

(xii)       in
the case of any Mortgage Loan that is part of a Serviced Loan Combination, the amounts to be withdrawn from the related Serviced
Loan Combination Collection Account and deposited into the Collection Account pursuant to Section 3.06(b)(i).

 

In the case of Excess
Liquidation Proceeds, the Master Servicer shall make appropriate ledger entries received with respect thereto, which the Master
Servicer shall hold for (i) the Trustee for the benefit of the Certificateholders (other than the Class V Certificates) and the
Trustee as the Holder of the Lower-Tier Regular Interests and (ii) for the benefit of any Serviced Companion Loan Noteholder entitled
thereto. Any Excess Liquidation Proceeds shall be identified separately from any other amounts held in the Collection Account (with
amounts attributable to each Class or Classes and any Serviced Companion Loan also identified separately).

 

The foregoing requirements
for deposits in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality
of the foregoing, payments in the nature of late payment charges (subject to Section 3.12 and the related Intercreditor Agreement),
Assumption Fees, Modification Fees and consent fees, loan service transaction fees, extension fees, demand fees, beneficiary statement
charges and similar fees need not be deposited in the Collection Account by the Master Servicer or the Special Servicer, as applicable,
and, to the extent permitted by applicable law, the Master Servicer or the Special Servicer, as applicable in accordance with Section
3.12 hereof, shall be entitled to retain any such charges and fees received with respect to the Mortgage Loans that it is servicing
as additional compensation.

 

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If the Master Servicer
deposits in the Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from
the Collection Account, any provision herein to the contrary notwithstanding.

 

Upon receipt of any of
the amounts described in clauses (i), (ii), (v) and (vi) of this Agreement above with respect to any Specially Serviced Loan which
is not a Serviced REO Loan, the Special Servicer shall remit such amounts within one Business Day after receipt thereof (except,
if such amounts are not properly identified, the Special Servicer shall promptly identify such amounts and shall remit such amounts
within one Business Day after such identification) to the Master Servicer for deposit into the Collection Account in accordance
with the second paragraph of this Section 3.05 of this Agreement, unless the Special Servicer determines, consistent with the Servicing
Standard, that a particular item should not be deposited because of a restrictive endorsement or other appropriate reason. Any
such amounts received by the Special Servicer with respect to a Serviced REO Property (other than any Serviced REO Property related
to the Serviced Loan Combinations) shall be deposited by the Special Servicer into the REO Account and remitted to the Master Servicer
for deposit into the Collection Account pursuant to Section 3.15(b) of this Agreement. With respect to any related Serviced Loan
Combination, the Special Servicer shall comply with Section 3.05(g) of this Agreement. With respect to any such amounts paid by
check to the order of the Special Servicer, the applicable Special Servicer shall endorse without recourse or warranty such check
to the order of the Master Servicer and shall promptly deliver any such check to the Master Servicer by overnight courier.

 

(b)        The
Certificate Administrator shall establish and maintain the Lower-Tier Distribution Account in its own name on behalf of the Trustee,
for the benefit of the Certificateholders and the Trustee as the Holder of the Lower-Tier Regular Interests. The Lower-Tier Distribution
Account shall be established and maintained as an Eligible Account or as a sub-account of an Eligible Account.

 

(c)        With
respect to each Distribution Date, the Master Servicer shall deliver to the Certificate Administrator on or before the Servicer
Remittance Date the funds then on deposit in the Collection Account after giving effect to withdrawals of funds pursuant to Section
3.06(a) of this Agreement and deposits from the Serviced Loan Combination Collection Account pursuant to Section 3.06 of this Agreement.
Upon receipt from the Master Servicer of such amounts held in the Collection Account, the Certificate Administrator shall deposit
in (A) the Lower-Tier Distribution Account (i) the amount of Available Funds to be distributed pursuant to Section 4.01 of this
Agreement on such Distribution Date and (ii) the amount of Excess Liquidation Proceeds allocable to any Mortgage Loan to be deposited
into the Lower-Tier Distribution Account (which the Certificate Administrator shall then deposit in the Excess Liquidation Proceeds
Account) pursuant to Section 3.06 of this Agreement, (B) the Interest Reserve Account as part of the Lower-Tier REMIC, the amount
of any Withheld Amounts to be deposited pursuant to Section 3.05(e) of this Agreement and (C) in the Class V Distribution Account,
the Excess Interest to be distributed to the Class V Certificates.

 

(d)        If
any Loss of Value Payments are received in connection with a Material Defect or Material Breach, as the case may be, pursuant to
or as contemplated by

 

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Section
2.03(e) of this Agreement, the Special Servicer shall establish and maintain one or more non-interest bearing accounts (collectively,
the “Loss of Value Reserve Fund”) to be held for the benefit of the Certificateholders, for purposes of holding
such Loss of Value Payments. Each account that constitutes the Loss of Value Reserve Fund shall be an Eligible Account or a sub-account
of an Eligible Account. The Special Servicer shall, upon receipt, deposit in the Loss of Value Reserve Fund all Loss of Value
Payments received by it. The Special Servicer shall account for the Loss of Value Reserve Fund as an outside reserve fund within
the meaning of Treasury Regulations Section 1.860G-2(h) and not an asset of either Trust REMIC or the Grantor Trust. Furthermore,
for all federal tax purposes, the Certificate Administrator and the Special Servicer shall (i) treat amounts paid out of the Loss
of Value Reserve Fund through the Collection Account to the Certificateholders as contributed to and distributed by the Trust
REMICs and (ii) treat any amounts paid out of the Loss of Value Reserve Fund through the Collection Account to a Mortgage Loan
Seller as distributions by the Trust Fund to such Mortgage Loan Seller as beneficial owner of the Loss of Value Reserve Fund.
The applicable Mortgage Loan Seller will be the beneficial owner of the Loss of Value Reserve Fund for all federal income tax
purposes, and shall be taxable on all income earned thereon.

 

(e)        The
Certificate Administrator shall establish and maintain the Interest Reserve Account in its own name on behalf of the Trustee, for
the benefit of the Certificateholders (other than the Class V Certificateholders) and the Trustee as the Holder of the Lower-Tier
Regular Interests. The Interest Reserve Account shall be established and maintained as an Eligible Account or as a sub-account
of an Eligible Account.

 

On each Servicer Remittance
Date occurring in (i) January of each calendar year that is not a leap year and (ii) February of each calendar year, unless in
either case such Servicer Remittance Date is the final Servicer Remittance Date, the Certificate Administrator shall calculate
the Withheld Amounts. On each such Servicer Remittance Date, the Certificate Administrator shall, with respect to each Mortgage
Loan that does not accrue interest on the basis of a 360-day year of twelve 30-day months, withdraw or be deemed to withdraw from
the Lower-Tier Distribution Account and deposit or be deemed to deposit in the Interest Reserve Account an amount equal to the
aggregate of the Withheld Amounts calculated in accordance with the previous sentence. If the Certificate Administrator shall deposit
in the Interest Reserve Account any amount not required to be deposited therein, it may at any time withdraw such amount from the
Interest Reserve Account any provision herein to the contrary notwithstanding. On or prior to the Servicer Remittance Date in March
of each calendar year (or in February if the final Distribution Date will occur in such month), the Certificate Administrator shall
transfer to the Lower-Tier Distribution Account the aggregate of all Withheld Amounts on deposit in the Interest Reserve Account.

 

(f)         The
Certificate Administrator shall establish and maintain the Upper-Tier Distribution Account in its own name on behalf of the Trustee,
for the benefit of the Certificateholders. The Upper-Tier Distribution Account shall be established and maintained as an Eligible
Account or a sub-account of an Eligible Account. Promptly on each Distribution Date, the Certificate Administrator shall withdraw
or be deemed to withdraw from the Lower-Tier Distribution Account and deposit or be deemed to deposit in the Upper-Tier Distribution
Account on or before such date the Lower-Tier Distribution Amount and the amount of any Prepayment Premiums and Yield Maintenance
Charges for such Distribution Date to be

 

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distributed
in respect of the Lower-Tier Regular Interests pursuant to Section 4.01(a) and Section 4.01(c) of this Agreement on such date.

 

(g)        With
respect to each Serviced Loan Combination or any related Serviced REO Property, the Master Servicer shall maintain, or cause to
be maintained, a Serviced Loan Combination Collection Account in which the Master Servicer shall deposit or cause to be deposited
within two Business Days following receipt of properly identified funds the following payments and collections received or made
by or on behalf of it on such Serviced Loan Combination or Serviced REO Property subsequent to the Cut-off Date:

 

(i)         all
payments on account of principal on such Serviced Loan Combination, including the principal component of Unscheduled Payments;

 

(ii)        all
payments on account of interest on such Serviced Loan Combination (net of the related Servicing Fees), including Prepayment Premiums,
Default Interest, Yield Maintenance Charges and the interest component of all Unscheduled Payments;

 

(iii)       any
amounts required to be deposited pursuant to Section 3.07(b), in connection with net losses realized on Permitted Investments with
respect to funds held in such Serviced Loan Combination Collection Account;

 

(iv)       all
Net REO Proceeds withdrawn from the related REO Account in respect of such Serviced Loan Combination pursuant to Section 3.15(b);

 

(v)        any
amounts received from Borrowers which represent recoveries of Property Protection Expenses and are allocable to such Serviced Loan
Combination, to the extent not permitted to be retained by the Master Servicer as provided herein;

 

(vi)       all
Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds received in respect of such Serviced Loan Combination or any
related Serviced REO Property (other than Excess Liquidation Proceeds and Liquidation Proceeds that are received in connection
with a purchase of all the Mortgage Loans and any REO Properties in the Trust Fund and that are to be deposited in the Lower-Tier
Distribution Account pursuant to Section 9.01), together with any amounts representing recoveries of Nonrecoverable Advances, including
any recovery of Unliquidated Advances, in respect of such Serviced Loan Combination; provided, that any Liquidation Proceeds
related to a sale pursuant to Section 3.16 hereof or pursuant to the related Intercreditor Agreement of a Mortgage Loan
included in a Serviced Loan Combination shall be deposited directly into the Collection Account and applied solely to pay expenses
relating to that Mortgage Loan and to Available Funds and any Liquidation Proceeds related to a sale of a related Serviced Companion
Loan included in a Serviced Loan Combination shall be deposited into the Serviced Loan Combination Collection Account and applied
solely to pay expenses relating to that Serviced Companion Loan and to pay amounts due to the related Serviced Companion Loan Noteholder;

 

(vii)      Penalty
Charges on such Serviced Loan Combination to the extent required to offset interest on Advances and debt service advances made
by a Serviced

 

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Companion Loan Service Provider and Additional Trust Fund Expenses pursuant to Section 3.12(d);

 

(viii)     any
amounts required to be deposited by the Master Servicer or the Special Servicer pursuant to Section 3.08(b) in connection with
losses resulting from a deductible clause in a blanket or master force placed policy in respect of such Serviced Loan Combination;

 

(ix)        any
other amounts required by the provisions of this Agreement (including with respect to the Companion Loans or any mezzanine indebtedness
that may exist on a future date, all amounts received pursuant to the cure and purchase rights or reimbursement obligations set
forth in the related Intercreditor Agreement or mezzanine intercreditor agreement, as applicable) to be deposited into the applicable
Serviced Loan Combination Collection Account by the Master Servicer or the Special Servicer;

 

(x)         any
cure payments remitted by any Serviced Companion Loan Noteholder pursuant to the related Intercreditor Agreement; and

 

(xi)        any
Master Servicer Prepayment Interest Shortfall Amounts in respect of such Serviced Loan Combination pursuant to Section 3.17(c).

 

The foregoing
requirements for deposits into the applicable Serviced Loan Combination Collection Account shall be exclusive, it being understood
and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges (subject to Section
3.12 and the related Intercreditor Agreement), Assumption Fees, Modification Fees, consent fees, loan service transaction fees,
extension fees, demand fees, beneficiary statement charges and similar fees need not be deposited into the applicable Serviced
Loan Combination Collection Account by the Master Servicer or the Special Servicer, as applicable, and, to the extent permitted
by applicable law, the Master Servicer or the Special Servicer, as applicable in accordance with Section 3.12 hereof, shall be
entitled to retain any such charges and fees received with respect to the Serviced Loan Combinations as additional compensation.
If the Master Servicer deposits in the applicable Serviced Loan Combination Collection Account any amount not required to be deposited
therein, it may at any time withdraw such amount from such Serviced Loan Combination Collection Account, any provision herein to
the contrary notwithstanding.

 

Each Serviced
Loan Combination Collection Account shall be maintained as a segregated account, separate and apart from any trust fund created
for mortgage backed securities of other series and the other accounts of the Master Servicer; provided, that such Serviced
Loan Combination Collection Account may be a sub-account or ledger account of the Master Servicer’s Collection Account but
shall, for purposes of this Agreement, be treated as a separate account. Each Serviced Loan Combination Collection Account shall
be established and maintained as an Eligible Account or as a sub-account of an Eligible Account.

 

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Upon receipt
of any of the foregoing amounts described in clauses (i), (ii), (v) and (vi) above with respect to each Serviced Loan Combination
for so long as it is a Specially Serviced Loan but is not a Serviced REO Loan, the Special Servicer shall remit within one Business
Day such amounts to the Master Servicer for deposit into the applicable Serviced Loan Combination Collection Account in accordance
with the first paragraph of this Section 3.05(g), unless the Special Servicer determines, consistent with the applicable Servicing
Standard, that a particular item should not be deposited because of a restrictive endorsement or other appropriate reason. Any
such amounts received by the Special Servicer with respect to a Serviced REO Property related to any Serviced Loan Combination
shall initially be deposited by the Special Servicer into the related Serviced Loan Combination REO Account and remitted to the
Master Servicer for deposit into the applicable Serviced Loan Combination Collection Account pursuant to Section 3.15(b). With
respect to any such amounts paid by check to the order of the Special Servicer, the Special Servicer (A) with respect to any Specially
Serviced Loan shall endorse without recourse or warranty such check to the order of the Master Servicer and shall promptly deliver
any such check to the Master Servicer by overnight courier and (B) with respect to any REO Loan shall deposit such check into the
applicable Loan Combination REO Account.

 

(h)        Notwithstanding
anything to the contrary contained herein, with respect to each Due Date and (1) any related Serviced Subordinate Companion Loan,
within such time period as is set forth in the applicable Intercreditor Agreement (or, if no such time period is set forth in an
Intercreditor Agreement, then within two (2) Business Days of receipt from the Borrower) and (2) any Serviced Pari Passu Companion
Loan, within one (1) Business Day after each Determination Date (or such later time period as provided in the related Intercreditor
Agreement), or, from and after a Serviced Companion Loan is deposited into a securitization, unless provided otherwise in the related
Intercreditor Agreement, on the second Business Day before the “servicer remittance date,” as such term or a similar
term is defined in the related Other Pooling and Servicing Agreement (as long as such date is at least 1 Business Day after receipt
of properly identified funds or 2 Business Days after receipt of properly identified funds if such funds are received by the Master
Servicer after 2:00 p.m. on any Business Day), the Master Servicer shall remit, from amounts on deposit in the applicable Serviced
Loan Combination Collection Account in accordance with Section 3.06(b)(i)(A), to each applicable Serviced Companion Loan
Noteholder by wire transfer in immediately available funds to the account of such Serviced Companion Loan Noteholder or an agent
therefor appearing on the Serviced Companion Loan Noteholder Register on the related date such amounts as are required to be remitted
(or, if no such account so appears or information relating thereto is not provided at least five (5) Business Days prior to the
date such amounts are required to be remitted, by check sent by first class mail to the address of such Serviced Companion Loan
Noteholder or its agent appearing on the Serviced Companion Loan Noteholder Register) the portion of the applicable Serviced Loan
Combination Remittance Amount allocable to such Serviced Companion Loan Noteholder.

 

(i)         Prior
to the Servicer Remittance Date relating to any Collection Period in which Excess Liquidation Proceeds are received, the Certificate
Administrator shall establish and maintain the Excess Liquidation Proceeds Account, which may have one or more sub-

 

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accounts,
to be held in its own name on behalf of the Trustee, for the benefit of the Certificateholders, and with respect to each Serviced
Loan Combination, the related Serviced Companion Loan Noteholders. Each account that constitutes an Excess Liquidation Proceeds
Account shall be an Eligible Account or a sub-account of an Eligible Account. On each Servicer Remittance Date, the Master Servicer
shall withdraw from the Collection Account or, if allocable to any Serviced Loan Combination, the Master Servicer shall withdraw
from the applicable Serviced Loan Combination Collection Account, and remit to the Certificate Administrator (i) in the case of
the Mortgage Loans (other than the Serviced Loan Combinations), for deposit in the Lower-Tier Distribution Account, as applicable
(which the Certificate Administrator shall then deposit in the Excess Liquidation Proceeds Account), and (ii) in the case of the
Serviced Loan Combinations, for deposit in the Excess Liquidation Proceeds Account, all Excess Liquidation Proceeds received during
the Collection Period ending on the Determination Date immediately prior to such Servicer Remittance Date which are allocable
to a Mortgage Loan or Serviced Loan Combination; provided that on the Business Day prior to the final Distribution Date,
the Certificate Administrator shall withdraw from the Excess Liquidation Proceeds Account and deposit in the Lower-Tier Distribution
Account (after allocation to any related Serviced Companion Loan as provided in Section 4.01(d)), for distribution on such Distribution
Date, any and all amounts then on deposit in the Excess Liquidation Proceeds Account attributable to the Mortgage Loans.

 

(j)         Funds
in the Collection Account, the Serviced Loan Combination Collection Account, the Distribution Accounts, the Interest Reserve Account,
the Excess Liquidation Proceeds Account and the REO Account may be invested in Permitted Investments in accordance with the provisions
of Section 3.07 of this Agreement.

 

The Master Servicer shall
give written notice to the Depositor, the Trustee, the Certificate Administrator and the Special Servicer of the location and account
number of the Collection Account and, if applicable, the Serviced Loan Combination Collection Accounts as of the Closing Date and
shall notify the Depositor, the Special Servicer, the Certificate Administrator and the Trustee, as applicable, in writing on or
prior to the Closing Date and prior to any subsequent change thereof. In addition, the Master Servicer shall provide notice to
each affected holder of a Serviced Companion Loan of the location and account number of the relevant Serviced Loan Combination
Collection Account as well as notice in writing on or prior to the Closing Date and prior to any subsequent change thereof. The
Certificate Administrator shall give written notice to the Depositor, the Trustee, the Special Servicer and the Master Servicer
of the location and account number of the Interest Reserve Account and the Distribution Accounts as of the Closing Date and shall
notify the Depositor, the Trustee, the Special Servicer and the Master Servicer, as applicable, in writing prior to any subsequent
change thereof.

 

(k)        The
Certificate Administrator shall establish and maintain the Class V Distribution Account, in its own name for the benefit of the
Trustee for the benefit of the Class V Certificateholders, with respect to the Excess Interest, which shall be an asset of the
Grantor Trust and beneficially owned by the Holders of the Class V Certificates and shall not be an asset of either Trust REMIC.
The Class V Distribution Account shall be established and maintained as an Eligible Account or as a subaccount of an Eligible Account.
Following the distribution of Excess Interest to the Class V Certificateholders on the first Distribution Date

 

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after
which there are no longer any Mortgage Loans outstanding which pursuant to their terms could pay Excess Interest, the Certificate
Administrator shall terminate the Class V Distribution Account.

 

Section 3.06          Permitted
Withdrawals from the Collection Accounts, the Serviced Loan Combination Collection Accounts and the Distribution Accounts; Trust
Ledger. (a) The Master Servicer
shall maintain a separate Trust Ledger with respect to the Mortgage Loans that it is servicing on which it shall make ledger entries
as to amounts deposited (or credited) or withdrawn (or debited) with respect thereto. On each Servicer Remittance Date (or such
other date as may be specified below or on which funds are available for such purpose as specified below), with respect to each
Mortgage Loan (other than any Mortgage Loan related to a Serviced Loan Combination unless otherwise specified in clauses (i), (ii),
(v), (vi), (x), (xi), (xii), (xiii), (xv), (xvi) and (xvii) of this Section 3.06(a)), the Master Servicer shall make withdrawals
from amounts allocated thereto in the Collection Account (and may debit the Trust Ledger) for the purposes listed below (the order
set forth below not constituting an order of priority for such withdrawals):

 

(i)         on
or before 3:00 p.m. (New York City time) on each Servicer Remittance Date, to remit to the Certificate Administrator the amounts
to be deposited into the Lower-Tier Distribution Account (including any amount transferred from the Serviced Loan Combination
Collection Account in respect of each Mortgage Loan that is part of a Serviced Loan Combination) (including without limitation
the aggregate of the Available Funds, Prepayment Premiums, Yield Maintenance Charges and Excess Liquidation Proceeds) which the
Certificate Administrator shall then deposit into the Upper-Tier Distribution Account, the Interest Reserve Account and the Excess
Liquidation Proceeds Account, pursuant to Section 3.05(f), Section 3.05(e) and Section 3.05(i) of this Agreement, respectively;

 

(ii)         to
pay (A) itself unpaid Servicing Fees (or, with respect to any Excess Servicing Fee Rights, to pay any Excess Servicing Fees to
the holder of such Excess Servicing Fee Rights pursuant to Section 3.12(a) of this Agreement); the Operating Advisor, unpaid Operating
Advisor Fees; and the Special Servicer, unpaid Special Servicing Fees, Liquidation Fees and Workout Fees in respect of each Mortgage
Loan, Specially Serviced Loan and Serviced REO Loan (exclusive of each Mortgage Loan or Serviced REO Loan included in a Serviced
Loan Combination), as applicable, the Master Servicer’s, the Operating Advisor’s or Special Servicer’s, as applicable,
rights to payment of Servicing Fees, Operating Advisor Fees and Special Servicing Fees, Liquidation Fees and Workout Fees pursuant
to this clause (ii)(A) with respect to any Mortgage Loan, Specially Serviced Loan or Serviced REO Loan (exclusive of each Mortgage
Loan or Serviced REO Loan included in a Serviced Loan Combination), as applicable, being limited to amounts received on or in respect
of such Mortgage Loan, Specially Serviced Loan or REO Loan, as applicable (whether in the form of payments, Liquidation Proceeds,
Insurance Proceeds or Condemnation Proceeds), that are allocable as recovery of interest thereon, (B) the Special Servicer, any
unpaid Special Servicing Fees, Liquidation Fees and Workout Fees in respect of each Specially Serviced Loan or Serviced REO Loan,
as applicable, remaining unpaid out of general collections on the Mortgage Loans, Specially Serviced Loans and REO Properties,
but

 

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in the case of each Serviced Loan Combination, only to the extent that amounts on deposit in the applicable Serviced Loan Combination
Collection Account are insufficient therefor (provided that the Master Servicer shall, after receiving payment from amounts
on deposit in the Collection Account, if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially
reasonable efforts to exercise on behalf of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement
for a pro rata portion of such amount allocable to the related Serviced Companion Loans from the related Companion Loan
Noteholders), (C) each month to the Other Servicer or Other Special Servicer, as applicable, the Trust’s pro rata portion
(based on the related Mortgage Loan’s Stated Principal Balance) of any unpaid special servicing fees, liquidation fees, workout
fees and additional trust expenses in respect of a Non-Serviced Mortgage Loan remaining unpaid (including amounts payable to such
parties under Section 1.04 of this Agreement), out of general collections on the Mortgage Loans, Specially Serviced Loans and REO
Properties and (D) the Operating Advisor, any unpaid Operating Advisor Consulting Fees (but only to the extent such Operating Advisor
Consulting Fees were received from the related Borrower);

 

(iii)        to
reimburse the Trustee or itself, in that order, for unreimbursed P&I Advances (other than Nonrecoverable Advances, which are
reimbursable pursuant to clause (v) below, and exclusive of the Mortgage Loans or Serviced REO Loans included in the Serviced Loan
Combinations) the Master Servicer’s or the Trustee’s right to reimbursement pursuant to this clause (iii) being limited
to amounts received which represent Late Collections for the applicable Mortgage Loan (exclusive of the Mortgage Loan or Serviced
REO Loan included in the Serviced Loan Combination) during the applicable period; provided, that to the extent such amounts
are insufficient to repay such P&I Advances on any Mortgage Loan as to which there is a related Serviced Subordinate Companion
Loan, such P&I Advances may be reimbursed from collections on the related Serviced Loan Combination allocable to such Serviced
Subordinate Companion Loan; provided, further, that if such P&I Advance becomes a Workout-Delayed Reimbursement
Amount, then such P&I Advance shall thereafter be reimbursed from amounts recovered on the related Mortgage Loan intended by
the modified loan documents to be applied to reimburse such Workout-Delayed Reimbursement Amount and then from the portion of general
collections and recoveries on or in respect of all of the Mortgage Loans and REO Properties on deposit in the Collection Account
from time to time that represent collections or recoveries of principal to the extent provided in clause (v) below;

 

(iv)       to
reimburse the Trustee or itself, in that order, (with respect to any Mortgage Loan or Serviced REO Property) (exclusive of the
Mortgage Loans or Serviced REO Loans included in the Serviced Loan Combinations or any Serviced REO Property securing any Serviced
Loan Combination), for unreimbursed Property Advances, the Master Servicer’s or the Trustee’s respective rights to
receive payment pursuant to this clause (iv) with respect to any Mortgage Loan or Serviced REO Property being limited to, as applicable,
payments received from the related Borrower which represent reimbursements of such Property Advances, Liquidation Proceeds, Insurance
Proceeds, Condemnation Proceeds and REO Proceeds with respect to the applicable Mortgage Loan or Serviced REO Property; provided,
that if such Property

 

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Advance becomes a Workout-Delayed Reimbursement Amount, then such Property Advance shall thereafter be reimbursed
from amounts recovered on the related Mortgage Loan intended by the modified loan documents to be applied to reimburse such Workout-Delayed
Reimbursement Amount and then from the portion of general collections and recoveries on or in respect of the Mortgage Loans and
REO Properties on deposit in the Collection Account from time to time that represent collections or recoveries of principal to
the extent provided in clause (v) below;

 

(v)        (A)
to reimburse the Trustee or itself, in that order (with respect to any Mortgage Loan or Serviced REO Property), (1) with respect
to Nonrecoverable Advances, first, out of Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds and REO Proceeds,
if any, received on the related Mortgage Loan and related REO Properties, second, out of the principal portion of general
collections on the Mortgage Loans and REO Properties, and then, to the extent the principal portion of general collections
is insufficient and with respect to such deficiency only, subject to any election at its sole discretion (or at the Trustee’s
sole discretion for the reimbursement of the Trustee) to defer reimbursement thereof pursuant to this Section 3.06(a) of this Agreement,
out of other collections on the Mortgage Loans and REO Properties and (2) with respect to the Workout-Delayed Reimbursement Amounts,
out of the principal portion of the general collections on the Mortgage Loans and REO Properties, net of such amounts being reimbursed
pursuant to the preceding clause (1) above, but in the case of either clause (1) or (2) above with respect to each Serviced Loan
Combination, only to the extent that amounts on deposit in the applicable Serviced Loan Combination Collection Account are insufficient
therefor after taking into account any allocation set forth in the related Intercreditor Agreement (provided that the Master
Servicer shall, after receiving payment from amounts on deposit in the Collection Account, if any, (i) promptly notify the related
Companion Loan Noteholder and (ii) use commercially reasonable efforts to exercise on behalf of the Trust any rights under the
related Intercreditor Agreement to obtain reimbursement for a pro rata portion (or such other amount as may be set forth
in the related Intercreditor Agreement) of such amount representing Property Advances allocable to the related Serviced Companion
Loans from the related Companion Loan Noteholders), (B) to pay itself or the Special Servicer out of general collections on the
Mortgage Loans and REO Properties, with respect to any Mortgage Loan or Serviced REO Property any related earned Servicing Fee,
Special Servicing Fee, Liquidation Fee or Workout Fee, as applicable, that remained unpaid in accordance with clause (ii) above
following a Final Recovery Determination made with respect to such Mortgage Loan or Serviced REO Property and the deposit into
the Collection Account of all amounts received in connection therewith, but in the case of each Serviced Loan Combination, only
to the extent that amounts on deposit in the applicable Serviced Loan Combination Collection Account are insufficient therefor
(provided that the Master Servicer shall, after receiving payment from amounts on deposit in the Collection Account, if
any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially reasonable efforts to exercise on behalf
of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement for a pro rata portion of such
amount allocable to the related Serviced Companion Loan from the related Companion Loan Noteholder) and (C) to reimburse the related
Other Servicer, the related Other Special Servicer and the related

 

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Other Trustee, as applicable, out of general collections on
the Mortgage Loans and REO Properties for the Trust’s pro rata portion (based on the related Non-Serviced Mortgage Loan’s
Stated Principal Balance) of nonrecoverable servicing advances previously made with respect to the related Non-Serviced Mortgage
Loans;

 

(vi)       (A)
at such time as it reimburses the Trustee or itself, in that order (with respect to any Mortgage Loan or Serviced REO Property),
for (1) any unreimbursed P&I Advance (including any such P&I Advance that constitutes a Workout-Delayed Reimbursement Amount)
made with respect to a Mortgage Loan pursuant to clause (iii) above, to pay itself or the Trustee, as applicable, any Advance Interest
Amounts accrued and payable thereon, (2) any unreimbursed Property Advances (including any such Advance that constitutes a Workout-Delayed
Reimbursement Amount) made with respect to a Mortgage Loan or Serviced REO Property pursuant to clause (iv) above, to pay itself
or the Trustee, as the case may be, any Advance Interest Amounts accrued and payable thereon or (3) any Nonrecoverable P&I
Advances made with respect to a Mortgage Loan or Serviced REO Property and any Nonrecoverable Property Advances made with respect
to a Mortgage Loan or REO Property or any Workout-Delayed Reimbursement Amounts pursuant to clause (v) above, to pay itself or
the Trustee, as the case may be, any Advance Interest Amounts accrued and payable thereon, in each case, first, from Penalty Charges
as provided in Section 3.12(d); and then, from general collections, but in the case of a Serviced Loan Combination only to the
extent that such Nonrecoverable Advance has been reimbursed and only to the extent that amounts on deposit in the applicable Serviced
Loan Combination Collection Account are insufficient therefor after taking into account any allocation set forth in the related
Intercreditor Agreement (provided that the Master Servicer shall, after receiving payment from amounts on deposit in the
Collection Account, if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially reasonable efforts
to exercise on behalf of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement for a pro rata
portion of such amount representing Advance Interest Amounts on Property Advances allocable to the related Serviced Companion
Loans from the related Companion Loan Noteholders) and (B) at such time as it reimburses the related Other Servicer, the related
Other Special Servicer and the related Other Trustee, as applicable, for any nonrecoverable servicing advances made with respect
to any related Non-Serviced Mortgage Loan or the related REO Property pursuant to clause (v) above, to pay the related Other Servicer,
the related Other Special Servicer and the related Other Trustee, as applicable, any interest accrued and payable thereon;

 

(vii)      to
reimburse itself, the Special Servicer, the Custodian, the Certificate Administrator or the Trustee, as the case may be, for any
unreimbursed expenses reasonably incurred by such Person in respect of any Breach or Defect giving rise to a repurchase obligation
of the applicable Mortgage Loan Seller under Section 6 of the applicable Mortgage Loan Purchase Agreement, including, without limitation,
any expenses arising out of the enforcement of the repurchase obligation, together with interest thereon at the Advance Rate, each
such Person’s right to reimbursement pursuant to this clause (vii) with respect to any Mortgage Loan (exclusive of any Mortgage
Loan included in the Serviced Loan Combination) subject to the following: (a) if the Repurchase Price is paid for such Mortgage
Loan, then such Person’s right to

 

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reimbursement shall be limited to that portion of the Repurchase Price that represents
such expense in accordance with clause (f) of the definition of Repurchase Price, or (b) if no Repurchase Price is paid or if an
amount less than the Repurchase Price is paid and proceedings are instituted to enforce the related Mortgage Loan Seller’s
payment or performance pursuant to the applicable Mortgage Loan Purchase Agreement or if a Loss of Value Payment is made, then
such Person shall be entitled to reimbursement from the Trust following the adjudication of such proceedings in favor of such Mortgage
Loan Seller, settlement of the Breach or Defect claim, or payment of such Loss of Value Payment, as the case may be;

 

(viii)     to
pay itself all Prepayment Interest Excesses on the Mortgage Pool (exclusive of any Mortgage Loan or Serviced REO Loan included
in the Serviced Loan Combination) not required to be used pursuant to Section 3.17(c) of this Agreement;

 

(ix)        (A)
to pay itself, as additional servicing compensation in accordance with Section 3.12(a) of this Agreement, (1) interest and investment
income earned in respect of amounts relating to the Trust Fund held in the Collection Account as provided in Section 3.12(b) of
this Agreement (but only to the extent of the net investment earnings with respect to such Collection Account for any period from
any Distribution Date to the immediately succeeding Servicer Remittance Date) and (2) Penalty Charges on the Mortgage Loans that
are not Specially Serviced Loans (exclusive of any Mortgage Loan or Serviced REO Loan included in a Serviced Loan Combination),
but only to the extent collected from the related Borrower and only to the extent that all amounts then due and payable with respect
to the related Mortgage Loan have been paid and are not needed to pay interest on Advances in accordance with Section 3.12 and/or
pay or reimburse the Trust for Additional Trust Fund Expenses incurred with respect to such Mortgage Loan during or prior to the
related Collection Period (including Special Servicing Fees, Workout Fees or Liquidation Fees); and (B) to pay the Special Servicer,
as additional servicing compensation in accordance with Section 3.12(b), Net Default Interest and any other Penalty Charges on
Specially Serviced Loans (exclusive of any Mortgage Loan or Serviced REO Loan included in the Serviced Loan Combination), but only
to the extent collected from the related Borrower and only to the extent that all amounts then due and payable with respect to
the related Specially Serviced Loan have been paid and are not needed to pay interest on Advances or Additional Trust Fund Expenses
(including Special Servicing Fees, Workout Fees or Liquidation Fees), all in accordance with Section 3.12;

 

(x)         to
pay itself, the Special Servicer, the Depositor, the Operating Advisor or any of their respective directors, officers, members,
managers, employees and agents, as the case may be, any amounts payable to any such Person pursuant to Section 6.03(a) of this
Agreement (and in the case of a Serviced Loan Combination only to the extent that such amounts on deposit in the applicable Serviced
Loan Combination Collection Account are insufficient therefor after taking into account any allocation set forth in the related
Intercreditor Agreement (provided that the Master Servicer shall, after receiving payment from amounts on deposit in the
Collection Account, if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially reasonable efforts
to exercise on behalf of the Trust any rights under the

 

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related Intercreditor Agreement to obtain reimbursement for a pro rata
portion of such amount allocable to the related Serviced Companion Loans from the related Companion Loan Noteholders));
provided, that for the purposes of allocating Additional Trust Fund Expenses, (i) any amounts so paid shall be deemed
allocated, (a) if relating to a particular Mortgage Loan, to such Mortgage Loan and (b) if not related to any particular Mortgage
Loan, pro rata, among all Mortgage Loans based on the respective Stated Principal Balances of the Mortgage Loans;

 

(xi)        to
pay for the cost of the Opinions of Counsel contemplated by Sections 3.10(d), 3.10(e), 3.15(a), 3.15(b) and 11.08 of this Agreement
(and in the case of a Serviced Loan Combination only to the extent that such amounts on deposit in the applicable Serviced Loan
Combination Collection Account are insufficient therefor after taking into account any allocation set forth in the related Intercreditor
Agreement (provided that the Master Servicer shall, after receiving payment from amounts on deposit in the Collection Account,
if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially reasonable efforts to exercise on behalf
of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement for a pro rata portion of such
amount allocable to the related Serviced Companion Loans from the related Companion Loan Noteholders)); provided, that for
the purposes of allocating Additional Trust Fund Expenses, (i) any amounts so paid shall be deemed allocated, (a) if relating to
a particular Mortgage Loan, to such Mortgage Loan and (b) if not related to any particular Mortgage Loan, pro rata, among
all Mortgage Loans based on the respective Stated Principal Balances of the Mortgage Loans;

 

(xii)       to
pay out of general collections on the Mortgage Loans and REO Properties any and all federal, state and local taxes imposed on the
Lower-Tier REMIC, the Upper-Tier REMIC or any of their assets or transactions, together with all incidental costs and expenses,
to the extent that none of the Master Servicer, the Special Servicer or the Trustee is liable therefor pursuant to this Agreement,
except to the extent such amounts relate solely to the Serviced Loan Combinations, in which case, such amounts will be reimbursed,
first, out of the related Serviced Loan Combination Collection Account from collections on the related Serviced Companion
Loan and the related Mortgage Loan (a) with respect to a Mortgage Loan and related Serviced Pari Passu Companion Loan on a pro
rata basis by principal balance and (b) with respect to a Mortgage Loan and related Subordinate Companion Loan initially, from
amounts allocated to such Subordinate Companion Loan and then from the related Mortgage Loan, and second, to the extent
any such costs and expenses remain unreimbursed, out of the Collection Account; provided, that for the purposes of allocating
Additional Trust Fund Expenses, (i) any amounts so paid shall be deemed allocated, (a) if relating to a particular Mortgage Loan,
to such Mortgage Loan and (b) if not related to any particular Mortgage Loan, pro rata, among all Mortgage Loans based on
the respective Stated Principal Balances of the Mortgage Loans;

 

(xiii)      to
reimburse the Trustee, the Custodian or the Certificate Administrator out of general collections on the Mortgage Loans and REO
Properties for expenses incurred by and reimbursable to it by the Trust Fund, except to the extent such amounts relate solely to
a Serviced Loan Combination, in which case, such amounts will be

 

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reimbursed first, from the applicable Serviced Loan Combination
Collection Account(s) in accordance with Section 3.06(b) and then, out of general collections on the Mortgage Loans; provided,
that for the purposes of allocating Additional Trust Fund Expenses, (i) any amounts so paid shall be deemed allocated, (a) if relating
to a particular Mortgage Loan, to such Mortgage Loan and (b) if not related to any particular Mortgage Loan, pro rata, among
all Mortgage Loans based on the respective Stated Principal Balances of the Mortgage Loans;

 

(xiv)      to
pay any Person permitted to purchase a Mortgage Loan under Section 3.16 of this Agreement with respect to each Mortgage Loan (exclusive
of any Mortgage Loan included in the Serviced Loan Combination), if any, previously purchased by such Person pursuant to this Agreement,
all amounts received thereon subsequent to the date of purchase relating to periods after the date of purchase;

 

(xv)       to
pay to itself, the Special Servicer, the Trustee, the Certificate Administrator, the Custodian, the Operating Advisor or the Depositor,
as the case may be, any amount specifically required to be paid to such Person at the expense of the Trust Fund under any provision
of this Agreement to which reference is not made in any other clause of this Section 3.06(a) of this Agreement (and, in the case
of an amount specifically related to a Serviced Loan Combination, only to the extent that such amounts on deposit in the applicable
Serviced Loan Combination Collection Account are insufficient therefor after taking into account any allocation set forth in the
related Intercreditor Agreement (provided that the Master Servicer shall, after receiving payment from amounts on deposit
in the Collection Account, if any, (i) promptly notify the related Companion Loan Noteholder and (ii) use commercially reasonable
efforts to exercise on behalf of the Trust any rights under the related Intercreditor Agreement to obtain reimbursement for a pro
rata portion of such amount allocable to the related Serviced Companion Loans from the related Companion Loan Noteholders)),
it being acknowledged that this clause (xv) shall not be construed to modify any limitation or requirement otherwise set forth
in this Agreement as to the time at which any Person is entitled to payment or reimbursement of any amount or as to the funds from
which any such payment or reimbursement is permitted to be made; provided, that (i) any amounts so paid shall be deemed
allocated, (a) if relating to a particular Mortgage Loan, to such Mortgage Loan and (b) if not related to any particular Mortgage
Loan, pro rata, among all Mortgage Loans based on the respective Stated Principal Balances of the Mortgage Loans;

 

(xvi)      to
withdraw from the Collection Account any sums deposited therein in error and pay such sums to the Persons entitled thereto (including
any amounts relating to a Mortgage Loan that is part of a Serviced Loan Combination);

 

(xvii)     to
pay from time to time to itself in accordance with Section 3.07(b) of this Agreement any interest or investment income earned on
funds deposited in the Collection Account;

 

(xviii)    to
transfer Excess Liquidation Proceeds allocable to Mortgage Loans to the Lower-Tier Distribution Account for deposit by the Certificate
Administrator into

 

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the Excess Liquidation Proceeds Account in accordance with Section 3.05(i) of this Agreement;

 

(xix)      to
pay itself, the Special Servicer or the related Mortgage Loan Seller, as the case may be, with respect to each Mortgage Loan, if
any, previously purchased or substituted (i.e., replaced) by such Person pursuant to or as contemplated by this Agreement,
all amounts received on such Mortgage Loan subsequent to the date of purchase or substitution, and, in the case of a substitution,
with respect to the related Qualifying Substitute Mortgage Loan(s), all Monthly Payments due thereon during or prior to the month
of substitution, in accordance with the third paragraph of Section 2.03(g) of this Agreement;

 

(xx)       to
pay to the Certificate Administrator, the Trustee, the Custodian or any of their directors, officers, employees, representatives
and agents, as the case may be, any amounts payable or reimbursable to any such Person pursuant to Section 8.05(d) of this Agreement;
provided, that any amounts so paid shall be deemed allocated, (a) if relating to a particular Mortgage Loan, to such Mortgage
Loan and (b) if not related to any particular Mortgage Loan, pro rata, among all Mortgage Loans based on the respective
Stated Principal Balances of the Mortgage Loans;

 

(xxi)      pursuant
to the CREFC® License Agreement, to pay the CREFC® License Fee to CREFC®
on a monthly basis; and

 

(xxii)     to
clear and terminate the Collection Account at the termination of this Agreement pursuant to Section 9.01 of this Agreement.

 

The Master Servicer shall
pay to the Special Servicer from the Collection Account amounts permitted to be paid to it therefrom promptly upon receipt of a
certificate of a Servicing Officer of the Special Servicer describing the item and amount to which the Special Servicer is entitled.
The Master Servicer may rely conclusively on any such certificate and shall have no duty to re-calculate the amounts stated therein.
The Special Servicer shall keep and maintain separate accounting for each Specially Serviced Loan and Serviced REO Loan and any
related Serviced Companion Loan, on a loan-by-loan and property-by-property basis when appropriate, for the purpose of justifying
any request for withdrawal from the Collection Account.

 

The Master Servicer shall
keep and maintain separate accounting records, on a Mortgage Loan by Mortgage Loan basis, reflecting amounts allocable to each
Mortgage Loan, and on a property-by-property basis when appropriate, for the purpose of justifying any withdrawal, debit or credit
from the Collection Account or the Trust Ledger. Upon written request, the Master Servicer shall provide to the Certificate Administrator
such records and any other information in the possession of the Master Servicer to enable the Certificate Administrator to determine
the amounts attributable to (i) the Lower-Tier REMIC with respect to such Mortgage Loans (other than the Excess Interest), (ii)
the Excess Interest and (iii) the Companion Loans.

 

The Master
Servicer shall pay to the Trustee, the Certificate Administrator, the Operating Advisor, the Special Servicer, the Other
Trustee, the Other Servicer or the Other

 

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Special Servicer from the Collection Account amounts permitted to be paid to such person therefrom, promptly upon
receipt of a certificate of a Responsible Officer of the Trustee, a responsible officer of the Other Trustee, a Responsible Officer
of the Certificate Administrator, a certificate of an officer of the Operating Advisor, a certificate of a Servicing Officer or
a certificate of the Other Servicer or Other Special Servicer, as applicable, describing the item and amount to which such Person
is entitled (unless such payment to the Trustee, the Certificate Administrator, the Operating Advisor, the Special Servicer, the
Other Trustee, the Other Servicer or Other Special Servicer, as the case may be, is specifically required pursuant to this Agreement
and the timing and the amount of payment is specified in, or calculable pursuant to, this Agreement, in which case a certificate
is not required). The Master Servicer may rely conclusively on any such certificate and shall have no duty to recalculate the
amounts stated therein.

 

The Trustee, the Certificate
Administrator, the Custodian, the Special Servicer, the Master Servicer, CREFC®, the Operating Advisor and, with
respect to each Non-Serviced Pari Passu Companion Loan, the Non-Serviced Mortgage Loan Service Providers (to the extent specified
in Section 11.12) shall in all cases have a right prior to the Certificateholders to any funds on deposit in the Collection Account
from time to time for the reimbursement or payment of the Servicing Compensation (including investment income), Trustee/Certificate
Administrator Fees, Special Servicing Compensation (including investment income), the CREFC® License Fee, Operating
Advisor Fees, Operating Advisor Consulting Fees (but only to the extent such Operating Advisor Consulting Fees are actually received
from the Borrowers), Advances, Advance Interest Amounts (for each of such Persons other than CREFC®), their respective
indemnification payments (if any) pursuant to Section 6.03, Section 8.05 or Section 11.02 of this Agreement (for each of such Persons
other than CREFC®), their respective expenses hereunder to the extent such fees and expenses are to be reimbursed
or paid from amounts on deposit in the Collection Account pursuant to this Agreement. For the avoidance of doubt, any fees or expenses
(including legal fees) for which a party is to be indemnified pursuant to Section 6.03 herein may be submitted directly to the
Trust Fund and paid from amounts on deposit in the Collection Account on behalf of such party pursuant to this Agreement. In addition,
the Certificate Administrator, the Trustee, the Special Servicer, the Master Servicer and the Operating Advisor shall in all cases
have a right prior to the Certificateholders to any funds on deposit in the Collection Account from time to time for the reimbursement
and payment of any federal, state or local taxes imposed on either Trust REMIC.

 

Upon the determination
that a previously made Advance is a Nonrecoverable Advance, to the extent that the reimbursement thereof would exceed the full
amount of the principal portion of general collections on the Mortgage Loans (or with respect to Property Advances, the Serviced
Loan Combinations) deposited in the Collection Account and available for distribution on the next Distribution Date, the Master
Servicer or the Trustee, each at its own option and in its sole discretion, as applicable, instead of obtaining reimbursement for
the remaining amount of such Nonrecoverable Advance pursuant to Section 3.06(a) or Section 3.06(b) of this Agreement immediately,
may elect to refrain from obtaining such reimbursement for such portion of the Nonrecoverable Advance during the Collection Period
ending on the then-current Determination Date for successive one-month periods for a total period not to exceed 12 months (with
the consent of the Directing Holder, for so long as no

 

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Control
Termination Event has occurred and is continuing, for any deferral in excess of 6 months). If the Master Servicer or the Trustee
makes such an election at its sole option and in its sole discretion to defer reimbursement with respect to all or a portion of
a Nonrecoverable Advance (together with interest thereon), then such Nonrecoverable Advance (together with interest thereon) or
portion thereof shall continue to be fully reimbursable in the subsequent Collection Period (subject, again, to the same sole
discretion to elect to defer; it is acknowledged that, in such a subsequent period, such Nonrecoverable Advance shall again be
payable first from principal collections as described above prior to payment from other collections). In connection with
a potential election by the Master Servicer or the Trustee to refrain from the reimbursement of a particular Nonrecoverable Advance
or portion thereof during the one-month Collection Period ending on the related Determination Date for any Distribution Date,
the Master Servicer or the Trustee shall further be authorized (in its sole discretion) to wait for principal collections on the
Mortgage Loans and Serviced Companion Loans to be received before making its determination of whether to refrain from the reimbursement
of a particular Nonrecoverable Advance (or portion thereof) until the end of such Collection Period; provided, the Master
Servicer or the Trustee shall give notice of its election to the 17g-5 Information Provider (who shall promptly post such notice
to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement), at least 15 days prior to any
reimbursement to it of Nonrecoverable Advances from amounts in the Collection Account allocable to interest on the Mortgage Loans
unless (1) the Master Servicer or the Trustee determines in its sole discretion that waiting 15 days after such a notice could
jeopardize its ability to recover Nonrecoverable Advances, (2) changed circumstances or new or different information becomes known
to the Master Servicer or the Trustee that could affect or cause a determination of whether any Advance is a Nonrecoverable Advance,
whether to defer reimbursement of a Nonrecoverable Advance or the determination in clause (1) above, or (3) the Master Servicer
or the Trustee has not timely received from the Certificate Administrator information requested by the Master Servicer or the
Trustee to consider in determining whether to defer reimbursement of a Nonrecoverable Advance; provided that, if clause
(1), (2) or (3) apply, the Master Servicer or the Trustee shall give notice of an anticipated reimbursement to it of Nonrecoverable
Advances from amounts in the Collection Account allocable to interest on the Mortgage Loans as soon as reasonably practicable
in such circumstances to the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s
Website pursuant to Section 3.14(d) of this Agreement). Neither the Master Servicer nor the Trustee shall have any liability for
any loss, liability or expense resulting from any notice provided to each Rating Agency contemplated by the immediately preceding
sentence.

 

The foregoing shall not,
however, be construed to limit any liability that may otherwise be imposed on such Person for any failure by such Person to comply
with the conditions to making such an election under this Section 3.06(a) or to comply with the terms of this Section 3.06(a) and
the other provisions of this Agreement that apply once such an election, if any, has been made. If the Master Servicer or the Trustee,
as applicable, determines, in its sole discretion, that it should recover the Nonrecoverable Advances without deferral as described
above, then the Master Servicer or the Trustee, as applicable, shall be entitled to immediate reimbursement of Nonrecoverable Advances
with interest thereon at the Advance Rate from all amounts in the Collection Accounts for such Distribution Date. Any such election
by any such party to refrain from reimbursing itself or obtaining reimbursement

 

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for
any Nonrecoverable Advance or portion thereof with respect to any one or more Collection Periods shall not limit the accrual of
interest at the Advance Rate on such Nonrecoverable Advance for the period prior to the actual reimbursement of such Nonrecoverable
Advance. The Master Servicer’s or the Trustee’s, as applicable, election to defer reimbursement of such Nonrecoverable
Advances as set forth above is an accommodation to the Certificateholders and, as applicable, the Serviced Companion Loan Noteholders
and shall not be construed as an obligation on the part of the Master Servicer or the Trustee, as applicable, or a right of the
Certificateholders or the Serviced Companion Loan Noteholders. Nothing herein shall be deemed to create in the Certificateholders
or the Serviced Companion Loan Noteholders a right to prior payment of distributions over the Master Servicer’s or the Trustee’s,
as applicable, right to reimbursement for Advances (deferred or otherwise). In all events, the decision to defer reimbursement
or to seek immediate reimbursement of Nonrecoverable Advances shall be deemed to be in accordance with the Servicing Standard
and neither the Master Servicer nor the other parties to this Agreement shall have any liability to one another or to any of the
Certificateholders or any of the Serviced Companion Loan Noteholders for any such election that such party makes as contemplated
by this Section 3.06(a) or for any losses, damages or other adverse economic or other effects that may arise from such an election.

 

None of the Master Servicer,
the Special Servicer or the Trustee shall be permitted to reverse any other Person’s determination, or to prohibit any such
other authorized Person from making a determination, that an Advance constitutes, or would constitute, a Nonrecoverable Advance.

 

If the Master Servicer,
the Trustee or any Non-Serviced Mortgage Loan Service Provider, as applicable, is reimbursed out of general collections for any
unreimbursed Advances that are determined to be Nonrecoverable Advances (together with any Advance Interest Amount), then (for
purposes of calculating distributions on the Certificates) such reimbursement and payment of interest shall be deemed to have been
made: first, out of the Principal Distribution Amount, which, but for its application to reimburse a Nonrecoverable Advance
and/or to pay the Advance Interest Amount, would be included in Available Funds for any subsequent Distribution Date and, second,
out of other amounts which, but for their application to reimburse a Nonrecoverable Advance and/or to pay the Advance Interest
Amount, would be included in Available Funds for any subsequent Distribution Date.

 

If and to the extent
that any payment is deemed to be applied as contemplated in the paragraph above to reimburse a Nonrecoverable Advance or to pay
the Advance Interest Amount, then the Principal Distribution Amount for such Distribution Date shall be reduced, to not less than
zero, by the amount of such reimbursement. If and to the extent (i) any Advance is determined to be a Nonrecoverable Advance, (ii)
such Advance and/or the Advance Interest Amount is reimbursed out of the Principal Distribution Amount as contemplated above and
(iii) the particular item for which such Advance was originally made is subsequently collected out of payments or other collections
in respect of the related Mortgage Loan, then the Principal Distribution Amount for the Distribution Date that corresponds to the
Collection Period in which such item was recovered shall be increased by an amount equal to the lesser of (A) the amount of such
item and (B) any previous reduction in the Principal Distribution Amount for a prior Distribution Date as contemplated in the paragraph
above resulting from the reimbursement of the subject Advance and/or the payment of the Advance Interest Amount.

 

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(b)        The
Master Servicer shall maintain a separate Trust Ledger with respect to the Serviced Loan Combinations that it is servicing on which
it shall make ledger entries as to amounts deposited (or credited) or withdrawn (or debited) with respect thereto. On each Servicer
Remittance Date (or such other date as may be specified below or on which funds are available for such purpose as specified below),
with respect to each Serviced Loan Combination, subject to any limitations in the related Intercreditor Agreement, the Master Servicer
shall make withdrawals from amounts allocated thereto in the related Serviced Loan Combination Collection Account (and may debit
the Trust Ledger) for any of the following purposes (the order set forth below not constituting an order of priority for such withdrawals):

 

(i)          to
make remittances each month within two (2) Business Days of receipt from the Borrower (or such later time as set forth in the applicable
Intercreditor Agreement) in an aggregate amount of immediately available funds equal to the allocable portion of the applicable
Serviced Loan Combination Remittance Amount to (A) the related Serviced Companion Loan Noteholders in accordance with Section 3.05(h)
of this Agreement in respect of amounts allocable to the related Serviced Companion Loans, and (B) the Collection Account for the
benefit of the Trust in respect of amounts allocable to the related Mortgage Loan, in each case (x) based on the amount allocable
to the related Mortgage Loan and the related Companion Loan pursuant to the terms of the related Intercreditor Agreement and (y)
after taking into account the amounts permitted to be withdrawn from the Serviced Loan Combination Account pursuant to this Section
3.06(b) and the allocation of such amount as between the Mortgage Loan and related Companion Loans as provided in the related Intercreditor
Agreement; provided that (1) Liquidation Proceeds relating to the repurchase of any Serviced Companion Loan by the related seller
thereof shall be remitted solely to the holder of such Serviced Companion Loan, as the case may be and (2) Liquidation Proceeds
relating to the repurchase of a Mortgage Loan related to a Serviced Loan Combination by the related Mortgage Loan Seller shall
be remitted solely to the Collection Account;

 

(ii)         to
pay (A) to itself unpaid Servicing Fees and to the Special Servicer unpaid Special Servicing Fees, Liquidation Fees and Workout
Fees in respect of such Serviced Loan Combination or related Serviced REO Loan, as applicable, the Master Servicer’s or the
Special Servicer’s, as applicable, rights to payment of Servicing Fees, Special Servicing Fees, Liquidation Fees and Workout
Fees, as applicable, pursuant to this clause (ii)(A) with respect to such Serviced Loan Combination or related Serviced REO Loan,
as applicable, being limited to amounts received on or in respect of such Serviced Loan Combination (whether in the form of payments,
Liquidation Proceeds, Insurance Proceeds or Condemnation Proceeds), or such Serviced REO Loan (whether in the form of REO Proceeds,
Liquidation Proceeds, Insurance Proceeds or Condemnation Proceeds), that are allocable as recovery of interest thereon and (B)
to the Special Servicer, each month to the extent not covered by clause (ii)(A) above, any unpaid Special Servicing Fees, Liquidation
Fees and Workout Fees in respect of such Serviced Loan Combination or related Serviced REO Loan, as applicable, remaining unpaid
out of general collections in the Collection Account as provided in Section 3.06(a)(ii) of this Agreement;

 

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(iii)        to
reimburse the Trustee or itself, in that order, for unreimbursed P&I Advances with respect to the applicable Mortgage Loan
and to reimburse the related Serviced Companion Loan Service Provider for unreimbursed principal and/or interest advances with
respect to the applicable Serviced Companion Loan, the Master Servicer’s, the Trustee’s and the applicable Serviced
Companion Loan Service Provider’s right to reimbursement pursuant to this clause (iii) being limited to amounts received
in the applicable Serviced Loan Combination Collection Account which represent Late Collections received in respect of such Mortgage
Loan or Serviced Companion Loan, as applicable (as allocable thereto pursuant to the related Loan Documents and the related Intercreditor
Agreement), during the applicable period; provided, that to the extent such amounts are insufficient to repay such P&I
Advances on any Mortgage Loan as to which there is a related Subordinate Companion Loan, such P&I Advances may be reimbursed,
on a pro rata basis with any reimbursement to the related Serviced Companion Loan Service Provider for unreimbursed principal
and/or interest advances with respect to the applicable Serviced Companion Loan, from collections on the related Serviced Loan
Combination allocable to such Subordinate Companion Loan; provided, further, that if such P&I Advance on the
applicable Mortgage Loan becomes a Nonrecoverable Advance or a Workout Delayed Reimbursement Amount, then such P&I Advance
shall thereafter be reimbursed in accordance with clause (v) below;

 

(iv)       to
reimburse the Trustee or itself, in that order, as applicable (with respect to such Serviced Loan Combination or Serviced REO Property),
for unreimbursed Property Advances with respect to such Serviced Loan Combination or related Serviced REO Property, the Master
Servicer’s or the Trustee’s respective rights to receive payment pursuant to this clause (iv) being limited to, as
applicable, related payments by the applicable Borrower with respect to such Property Advance, Liquidation Proceeds, Insurance
Proceeds and Condemnation Proceeds and REO Proceeds with respect to such Serviced Loan Combination; provided, that if such
Property Advance becomes a Nonrecoverable Advance or a Workout Delayed Reimbursement Amount, then such Property Advance shall thereafter
be reimbursed in accordance with clause (v) below;

 

(v)        (A)
to reimburse the Trustee or itself, in that order, (with respect to such Serviced Loan Combination or related REO Property), as
applicable (x) with respect to Nonrecoverable Advances, first, out of Liquidation Proceeds, Insurance Proceeds, Condemnation
Proceeds and REO Proceeds received on the related Serviced Loan Combination and related REO Properties, and second, out
of general collections in the Collection Account as provided in Section 3.06(a) and (y) with respect to the Workout Delayed Reimbursement
Amounts, first, out of the principal portion of the general collections on the Serviced Loan Combination and related REO
Properties, net of such amounts being reimbursed pursuant to the subclause first in the preceding clause (x) above and second
out of general collections in the Collection Account as provided in Section 3.06(a); provided that in the case of both clause (x)
and clause (y) of this clause (v), prior to making any reimbursement from general collections, such reimbursements shall be made
first, from collections on, and proceeds of the applicable

 

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Serviced Subordinate Companion Loan, if any, and then from collections
on, and proceeds of the related Mortgage Loan, or in the case of a Serviced Loan Combination with a Serviced Pari Passu Companion
Loan, on a pro rata basis as between the Mortgage Loan and any related Serviced Pari Passu Companion Loans (based on the
Mortgage Loan’s Stated Principal Balance or related Serviced Companion Loan’s principal balance) and then from general
collections of the Trust (provided that, in the case of a Property Advance that is a Nonrecoverable Advance, the Master
Servicer shall, after receiving payment from amounts on deposit in the Collection Account, if any, (i) promptly notify the related
Companion Loan Noteholder and (ii) use commercially reasonable efforts to exercise on behalf of the Trust any rights under the
related Intercreditor Agreement to obtain reimbursement for a pro rata portion of such amount allocable to the related Serviced
Companion Loans from the related Companion Loan Noteholders) or (B) to pay itself or the Special Servicer out of general collections
on such Serviced Loan Combination and related REO Properties, any related earned Servicing Fee, Special Servicing Fee, Liquidation
Fee or Workout Fee, as applicable, that remained unpaid in accordance with clause (ii) above following a Final Recovery Determination
made with respect to such Serviced Loan Combination or related REO Property and the deposit into the applicable Serviced Loan Combination
Collection Account of all amounts received in connection therewith; provided that, notwithstanding the foregoing, such party’s
rights to reimbursement pursuant to this clause (v) with respect to any such Nonrecoverable Advance or Workout-Delayed Reimbursement
Amount that is a P&I Advance, being limited (except to the extent set forth in Section 3.06(a)) to amounts on deposit in the
applicable Serviced Loan Combination Collection Account that were received in respect of the particular Mortgage Loan (as allocable
thereto pursuant to the related Loan Documents and the related Intercreditor Agreement) in the related Serviced Loan Combination
as to which such Nonrecoverable Advance or such Workout-Delayed Reimbursement Amount were incurred (provided, that to the
extent such amounts are insufficient to repay such Advances on any Mortgage Loan as to which there is a related Serviced Subordinate
Companion Loan, such P&I Advances may be reimbursed from collections on the related Serviced Loan Combination allocable to
such Serviced Subordinate Companion Loan);

 

(vi)       at
such time as it reimburses the Trustee or itself, in that order, as applicable, for (A) any unreimbursed P&I Advance with respect
to the applicable Mortgage Loan (including any such Advance that constitutes a Workout Delayed Reimbursement Amount) or any unreimbursed
principal and/or interest advance with respect to the related Serviced Companion Loan pursuant to clause (iii) above, to pay itself,
the Trustee or such Serviced Companion Loan Service Provider, as applicable, any Advance Interest Amounts accrued and payable thereon,
(B) any unreimbursed Property Advances (including any such Advance that constitutes a Workout Delayed Reimbursement Amount) pursuant
to clause (iv) above, to pay itself, the Special Servicer or the Trustee, as the case may be, any Advance Interest Amounts accrued
and payable thereon or (C) any Nonrecoverable Advances pursuant to clause (v) above, to pay itself, the Special Servicer, the Trustee
or any Serviced Companion Loan Service Provider, as the case may be, any Advance Interest Amounts accrued and payable thereon,
with such amounts payable in the case of clauses (A), (B) and (C) above, first, from Penalty Charges pursuant to Section
3.12(d), then, from collections on, and

 

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proceeds of the applicable Serviced Subordinate Companion Loan, if any, and then, from
collections on, and proceeds of, on a pro rata basis as between the Mortgage Loan and any related other Serviced Pari Passu
Companion Loans (based on the Mortgage Loan’s Stated Principal Balance or related Serviced Pari Passu Companion Loan’s
principal balance), provided that, notwithstanding the foregoing, such party’s rights to reimbursement pursuant to
this clause (vi) with respect to any such interest on P&I Advances (including any such P&I Advance that is a Nonrecoverable
Advance or a Workout-Delayed Reimbursement Amount) being limited to amounts on deposit in the applicable Serviced Loan Combination
Collection Account that were received in respect of the particular Mortgage Loan (as allocable thereto pursuant to the related
Loan Documents and the related Intercreditor Agreement) in the related Serviced Loan Combination as to which such advance relates
(provided, that any Mortgage Loan as to which there is a related Serviced Subordinate Companion Loan, such interest on P&I
Advances may be reimbursed from collections on the related Serviced Loan Combination allocable to such Serviced Subordinate Companion
Loan);

 

(vii)      to
reimburse itself, the Special Servicer, the Custodian, the Certificate Administrator or the Trustee, as the case may be, as applicable,
for any unreimbursed expenses reasonably incurred by such Person in respect of any Breach or Defect with respect to the Mortgage
Loan giving rise to a repurchase obligation of the applicable Mortgage Loan Seller under Section 6 of the applicable Mortgage Loan
Purchase Agreement or, with respect to a Serviced Companion Loan, under the related mortgage loan purchase agreement, including,
without limitation, any expenses arising out of the enforcement of the repurchase obligation, each such Person’s right to
reimbursement pursuant to this clause (vii) with respect to such Serviced Loan Combination being limited to that portion of the
Repurchase Price paid for the related Mortgage Loan that represents such expense in accordance with clause (e) of the definition
of Repurchase Price (or, with respect to a Serviced Companion Loan, a comparable expense);

 

(viii)    
to pay itself all Prepayment Interest Excesses on any related Mortgage Loan or Serviced Companion Loan included in the Serviced
Loan Combinations not required to be used pursuant to Section 3.17(c) of this Agreement;

 

(ix)        (A)
to pay itself, as additional servicing compensation in accordance with Section 3.12(a), (1) interest and investment income earned
in respect of amounts relating to such Serviced Loan Combination held in the applicable Serviced Loan Combination Collection Account
as provided in Section 3.07(b) (but only to the extent of the net investment earnings with respect to such Serviced Loan Combination
Collection Account for any period from any Distribution Date to the immediately succeeding Servicer Remittance Date) and (2) any
Penalty Charges on the related Mortgage Loan and Serviced Companion Loan (except to the extent prohibited by the related Intercreditor
Agreement and other than Specially Serviced Loans) but only to the extent collected from the related Borrower and to the extent
that all amounts then due and payable with respect to the Serviced Loan Combinations have been paid and are not needed to pay Advance
Interest Amounts, interest on debt service advances made by the related Serviced Companion Loan Service Provider and/or Additional
Trust Fund Expenses in accordance with Section 3.12 and the related Intercreditor

 

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Agreement; and (B) to pay the Special Servicer,
as additional servicing compensation in accordance with the second paragraph of Section 3.12, the portion of any Penalty Charges
on the related Mortgage Loan and Serviced Companion Loan (except to the extent prohibited by the related Intercreditor Agreement),
during the period it is a Specially Serviced Loan (but only to the extent collected from the related Borrower and to the extent
that all amounts then due and payable with respect to the related Specially Serviced Loan have been paid and are not needed to
pay interest on Advances, interest on debt service advances made by the related Serviced Companion Loan Service Provider and/or
Additional Trust Fund Expenses in accordance with Section 3.12 and the related Intercreditor Agreement);

 

(x)         to
recoup any amounts deposited in such Serviced Loan Combination Collection Account in error;

 

(xi)        to
pay itself, the Special Servicer, the Depositor or any of their respective directors, officers, members, managers, employees and
agents, as the case may be, any amounts payable to any such Person pursuant to Sections 6.03(a) or 6.03(b), to the extent that
such amounts relate to such Serviced Loan Combinations;

 

(xii)       to
pay for the cost of the Opinions of Counsel contemplated by Sections 3.10(d), 3.10(e), 3.15(a), 3.15(b) and 11.08 to the extent
that such opinions specifically relate to such Serviced Loan Combinations;

 

(xiii)      to
pay out of general collections on such Serviced Loan Combination and related Serviced REO Property any and all federal, state and
local taxes imposed on the Upper-Tier REMIC, the Lower-Tier REMIC or any of their assets or transactions, together with all incidental
costs and expenses, in each case to the extent that neither the Master Servicer, the Special Servicer, the Certificate Administrator
nor the Trustee is liable therefor pursuant to this Agreement and only to the extent that such amounts relate to the related Mortgage
Loan or to the Serviced Companion Loans (but only to the extent that any Serviced Companion Loan is included in a REMIC);

 

(xiv)      to
reimburse the Trustee and the Certificate Administrator out of general collections on such Serviced Loan Combination and related
REO Properties for expenses incurred by and reimbursable to it by the Trust Fund specifically related to such Serviced Loan Combination;

 

(xv)       to
pay any Person permitted to purchase a Mortgage Loan under Section 3.16 with respect to the Mortgage Loan included in such Serviced
Loan Combination, if any, previously purchased by such Person pursuant to this Agreement, all amounts received thereon subsequent
to the date of purchase relating to periods after the date of purchase;

 

(xvi)      to
deposit in the Interest Reserve Account the amounts with respect to the Mortgage Loan included in such Serviced Loan Combination
required to be deposited in the Interest Reserve Account pursuant to Section 3.05(e);

 

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(xvii)     to
pay to the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Depositor, as the case may
be, to the extent that such amounts relate to the Mortgage Loan included in such Serviced Loan Combination, any amount specifically
required to be paid to such Person at the expense of the Trust Fund under any provision of this Agreement to which reference is
not made in any other clause of this Section 3.06(b), it being acknowledged that this clause (xvii) shall not be construed to modify
any limitation or requirement otherwise set forth in this Agreement or in the related Intercreditor Agreement as to the time at
which any Person is entitled to payment or reimbursement of any amount or as to the funds from which any such payment or reimbursement
is permitted to be made;

 

(xviii)    to
pay the related Mortgage Loan Seller with respect to the Mortgage Loan included in such Serviced Loan Combination, if any, previously
purchased or substituted (i.e., replaced) by such Person pursuant to or as contemplated by this Agreement, all amounts received
on such Mortgage Loan subsequent to the date of purchase or substitution, and, in the case of a substitution, with respect to the
related Qualifying Substitute Mortgage Loan(s), all Monthly Payments due thereon during or prior to the month of substitution,
in accordance with the third paragraph of Section 2.03(g); and

 

(xix)      to
clear and terminate such Serviced Loan Combination Collection Account at the termination of this Agreement pursuant to Section
9.01.

 

In the case of the amounts
payable as set forth above in this Section 3.06(b) with respect to any Serviced Loan Combination, if such amount is not specifically
payable, pursuant to the terms of this Agreement or the related Intercreditor Agreement, out of collections or proceeds allocable
to any particular note that is a part of such Serviced Loan Combination, such amount shall be paid from collections on, and proceeds
of the related Serviced Subordinate Companion Loan, if any, and then, from collections on, and proceeds of, on a pro rata
basis as between, the related Mortgage Loan and any related Serviced Pari Passu Companion Loans (based on the related Mortgage
Loan’s principal balance or the related Serviced Pari Passu Companion Loan’s principal balance) and then, to the extent
provided for in this Agreement, from general collections.

 

The Master Servicer shall
keep and maintain separate accounting records, on a loan-by-loan and property-by-property basis when appropriate, for the purpose
of justifying any withdrawal from any Serviced Loan Combination Collection Account. All withdrawals with respect to any Serviced
Loan Combination shall be made first, from the applicable Serviced Loan Combination Collection Account and then,
from the Master Servicer’s Collection Account to the extent permitted by Section 3.06(a). Upon request, the Master Servicer
shall provide to the Certificate Administrator such records and any other information in the possession of the Master Servicer
to enable the Certificate Administrator to determine the amounts attributable to the Lower-Tier REMIC and the Companion Loans.

 

The Master Servicer shall
pay to the Special Servicer from the Serviced Loan Combination Collection Accounts amounts permitted to be paid to it therefrom
promptly upon

 

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receipt
of a certificate of a Servicing Officer of such Special Servicer describing the item and amount to which the Special Servicer
is entitled (unless such payment to the Special Servicer is specifically required pursuant to this Agreement and the timing and
the amount of payment is specified in, or calculable pursuant to, this Agreement, in which case a certificate is not required).
The Master Servicer may rely conclusively on any such certificate and shall have no duty to recalculate the amounts stated therein.
The Special Servicer shall keep and maintain separate accounting for each Specially Serviced Loan included in the Serviced Loan
Combination and related REO Loan, on a loan-by-loan and property-by-property basis when appropriate, for the purpose of justifying
any request for withdrawal from any Serviced Loan Combination Collection Account.

 

Any permitted withdrawals
under this Section 3.06(b) with respect to reimbursement for advances or other amounts payable to an Other Trustee shall, if applicable,
also be deemed to be a permitted withdrawal for similar amounts owed to the fiscal agent of the Other Trustee, if any.

 

Notwithstanding anything
to the contrary contained herein, with respect to each Serviced Companion Loan, the Master Servicer shall withdraw from the related
Serviced Loan Combination Collection Account and remit to the related Serviced Companion Loan Noteholders, within (x) with respect
to any Serviced Subordinate Companion Loan, if required pursuant to the terms of the related Intercreditor Agreement, within two
(2) Business Days of receipt thereof and (y) with respect to any Serviced Pari Passu Companion Loan, one (1) Business Day after
the Determination Date, any amounts that represent Late Collections or Principal Prepayments on such Serviced Companion Loan or
any successor REO Loan with respect thereto, that are received by the Master Servicer subsequent to 3:00 p.m. (New York City time)
on the related Due Date therefor in any calendar month (exclusive of any portion of such amount payable or reimbursable to any
third party in accordance with the related Intercreditor Agreement or this Agreement), unless such amount would otherwise be included
in the scheduled monthly remittance to the holder of such Serviced Companion Loan for such month.

 

If the Master Servicer
fails, as of 5:00 p.m. (New York City time) on any Servicer Remittance Date or any other date a remittance is required to be made,
to remit to the Certificate Administrator (in respect of the related Mortgage Loan) or the Serviced Companion Loan Noteholders
(in respect of any related Serviced Companion Loan) any amounts required to be so remitted hereunder by such date (including any
P&I Advance pursuant to Section 4.07 and any Excess Liquidation Proceeds allocable to the Serviced Companion Loans pursuant
to Section 4.01(d)), the Master Servicer shall pay to the Certificate Administrator (in respect of the Mortgage Loan) or the Serviced
Companion Loan Noteholders (in respect of the Serviced Companion Loan), for the account of the Certificate Administrator (in respect
of the Mortgage Loan) or the Serviced Companion Loan Noteholders (in respect of the Serviced Companion Loans), interest, calculated
at the Prime Rate, on such amount(s) not timely remitted, from the time such payment was required to be made (without regard to
any grace period) until (but not including) the date such late payment is received by the Certificate Administrator or the Serviced
Companion Loan Noteholders, as applicable.

 

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(c)           On
each Servicer Remittance Date, all net income and gain realized from investment of funds to which the Master Servicer or the Special
Servicer is entitled pursuant to Section 3.07(b) of this Agreement shall be subject to withdrawal by the Master Servicer or the
Special Servicer, as applicable.

 

(d)           With
respect to the Serviced Loan Combinations, if amounts required to pay the expenses allocable to any related Serviced Companion
Loan exceed amounts on deposit in the Serviced Loan Combination Collection Account, the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee, as applicable, may seek reimbursement from the Trust Fund with respect to such expenses
allocable to such Serviced Companion Loan. The Master Servicer or Special Servicer, as applicable, shall use commercially reasonable
efforts (on behalf of the Trust Fund, subject to the related Intercreditor Agreement) to exercise the rights of the Trust under
the related Intercreditor Agreement to obtain payment or reimbursement from the holder of the related Serviced Subordinate Companion
Loan, if any, and then for the pro rata portion of such expenses allocable to the Serviced Pari Passu Companion Loan from
the related Serviced Companion Loan Noteholder or, if such Serviced Companion Loan has been deposited into a securitization, out
of general collections in the collection account established pursuant to the related Other Pooling and Servicing Agreement.

 

(e)           If
any Loss of Value Payments are deposited into the Loss of Value Reserve Fund with respect to any Mortgage Loan or any related Serviced
REO Property, then the Special Servicer shall, promptly upon written direction from the Master Servicer (provided that, (1) with
respect to clause (iv) below, the Special Servicer shall have provided notice to the Master Servicer of the occurrence of such
liquidation event and (2) with respect to clause (v) below, the Certificate Administrator shall have provided the Master Servicer
and the Special Servicer with five Business Days’ prior notice of such final Distribution Date), transfer such Loss of Value
Payments (up to the remaining portion thereof) from the Loss of Value Reserve Fund to the Master Servicer for deposit into the
Collection Account for the following purposes:

 

(i)            to
reimburse the Master Servicer or the Trustee, in accordance with Section 3.06(a) of this Agreement, for any Nonrecoverable Advance
made by such party with respect to such Mortgage Loan or any related Serviced REO Property (together with the Advance Interest
Amount);

 

(ii)           to
pay, in accordance with Section 3.06(a) of this Agreement, or to reimburse the Trust for the prior payment of, any compensation
or expense relating to such Mortgage Loan or any related Serviced REO Property that constitutes or, if not paid out of such Loss
of Value Payments, would constitute an Additional Trust Fund Expense including any Liquidation Fee and any other amount due, payable
or reimbursable to the parties to this Agreement;

 

(iii)          to
offset any portion of Realized Losses that are attributable to such Mortgage Loan or related REO Property, as the case may be (as
calculated without regard to the application of such Loss of Value Payments), incurred with respect to such Mortgage Loan or any
related successor REO Loan;

 

    	-176-

    	 

    

 

(iv)          following
the occurrence of a liquidation event with respect to such Mortgage Loan or any related Serviced REO Property and any related transfers
from the Loss of Value Reserve Fund with respect to the items contemplated by the immediately preceding clauses (i)-(iii) as to
such Mortgage Loan, to cover the items contemplated by the immediately preceding clauses (i)-(iii) in respect of any other Mortgage
Loan or Serviced REO Loan; and

 

(v)           On
the final Distribution Date after all distributions have been made as set forth in clause (i) through (iv) above, to each Mortgage
Loan Seller, its pro rata share, based on the amount that it contributed, net of any amount contributed by such Mortgage
Loan Seller that was used pursuant to clauses (i)-(iii) to offset any portion of Realized Losses that are attributable to such
Mortgage Loan or related REO Property, as the case may be, Additional Trust Fund Expenses or any Nonrecoverable Advances incurred
with respect to the Mortgage Loan related to such contribution.

 

Any Loss of Value Payments
transferred to the Collection Account pursuant to clauses (i)-(iii) of the prior paragraph shall be treated as Liquidation Proceeds
received by the Trust in respect of the related Mortgage Loan or any successor REO Loan with respect thereto for which such Loss
of Value Payments were received; and any Loss of Value Payments transferred to the Collection Account pursuant to clause (iv) of
the prior paragraph shall be treated as Liquidation Proceeds received by the Trust in respect of the Mortgage Loan or REO Loan
for which such Loss of Value Payments are being transferred to the Collection Account to cover an item contemplated by clauses
(i)-(iv) of the prior paragraph.

 

(f)            Reserved.

 

(g)           The
Certificate Administrator may, from time to time, make withdrawals from the Lower-Tier Distribution Account for any of the following
purposes (the order set forth below shall not indicate any order of priority), in each case to the extent not previously paid from
the Collection Account:

 

(i)            to
make deposits of the Lower-Tier Distribution Amount and the amount of any Prepayment Premium and Yield Maintenance Charges distributable
pursuant to Section 4.01(a) of this Agreement in the Upper-Tier Distribution Account, and to make distributions on the Class LR
Certificates in respect of the Class LTR Interest pursuant to Section 4.01(a) of this Agreement;

 

(ii)           to
pay itself, the Trustee and the Custodian respective portions of any accrued but unpaid Trustee/Certificate Administrator Fees;

 

(iii)          to
pay itself an amount equal to all net income and gain realized from investment of funds in the Lower-Tier Distribution Account
pursuant to Section 3.07(b) of this Agreement;

 

(iv)          to
pay to itself, the Trustee, the Custodian or any of their directors, officers, employees, representatives and agents, as the case
may be, any amounts

 

    	-177-

    	 

    

 

payable or reimbursable to any such Person pursuant to Section 8.05(b), Section 8.05(c) and Section 8.05(d)
of this Agreement;

 

(v)           to
recoup any amounts deposited in the Lower-Tier Distribution Account in error; and

 

(vi)          to
clear and terminate the Lower-Tier Distribution Account at the termination of this Agreement pursuant to Section 9.01 of this Agreement.

 

(h)           The
Certificate Administrator may make withdrawals from the Upper-Tier Distribution Account for any of the following purposes:

 

(i)          
 to make distributions to Certificateholders (other than Holders of the Class V and Class LR Certificates) on each
Distribution Date pursuant to Section 4.01 or Section 9.01 of this Agreement, as applicable;

 

(ii)           to
recoup any amounts deposited in the Upper-Tier Distribution Account in error; and

 

(iii)          to
clear and terminate the Upper-Tier Distribution Account at the termination of this Agreement pursuant to Section 9.01 of this Agreement.

 

Section 3.07          Investment
of Funds in the Collection Accounts, the Serviced Loan Combination Collection Accounts, the Distribution Accounts, the Interest
Reserve Account, the Excess Liquidation Proceeds Account, the REO Account, the Lock-Box Accounts, the Cash Collateral Accounts
and the Reserve Accounts . (a)        The Master Servicer (with respect to the Collection
Account, any Serviced Loan Combination Collection Account and any Borrower Accounts (as defined below and subject to the second
succeeding sentence)), the Special Servicer (with respect to any REO Account and any Loss of Value Reserve Fund) and the Certificate
Administrator (with respect to the Distribution Accounts, the Interest Reserve Account and the Excess Liquidation Proceeds Account)
may direct any depository institution maintaining the Collection Account, any Serviced Loan Combination Collection Account, the
Excess Liquidation Proceeds Account, any Borrower Accounts, any REO Account, any Loss of Value Reserve Fund, the Interest Reserve
Account and the Distribution Accounts (each such account, for purposes of this Section 3.07, an “Investment Account”),
to invest the funds in such Investment Account in one or more Permitted Investments that bear interest or are sold at a discount,
and that mature, unless payable on demand, no later than the Business Day preceding the date on which such funds are required
to be withdrawn from such Investment Account pursuant to this Agreement. Any investment of funds on deposit in an Investment Account
by the Master Servicer, the Special Servicer or the Certificate Administrator shall be documented in writing and shall provide
evidence that such investment is a Permitted Investment which matures at or prior to the time required hereby or is payable on
demand. In the case of any Escrow Account, Lock-Box Account, Cash Collateral Account or Reserve Account (the “Borrower
Accounts”), the Master Servicer shall act upon the written request of the related Borrower or Manager to the extent
that the Master Servicer is required to do so under the terms of the respective Loan Documents, provided that in the absence
of appropriate written instructions from the related Borrower or Manager meeting the requirements of this Section 3.07, the Master
Servicer shall have no obligation to,

 

    	-178-

    	 

    

 

but will be entitled to, direct the investment of funds in such accounts in Permitted Investments. All such Permitted Investments
shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name
of the Trustee (in its capacity as such) or in the name of a nominee of the Trustee. The Certificate Administrator shall have
sole control (except with respect to investment direction which shall be in the control of the Master Servicer or the Special
Servicer, with respect to any REO Accounts, as an independent contractor to the Trust Fund) over each such investment and any
certificate or other instrument evidencing any such investment shall be delivered directly to the Certificate Administrator or
its agent (which shall initially be the Master Servicer), together with any document of transfer, if any, necessary to transfer
title to such investment to the Trustee or its nominee. Neither the Certificate Administrator nor the Trustee shall have any responsibility
or liability with respect to the investment directions of the Master Servicer, the Special Servicer, any Borrower or Manager or
any losses resulting therefrom, whether from Permitted Investments or otherwise. The Master Servicer shall have no responsibility
or liability with respect to the investment directions of the Special Servicer, the Certificate Administrator, the Trustee, any
Borrower or Manager or any losses resulting therefrom, whether from Permitted Investments or otherwise. The Special Servicer shall
have no responsibility or liability with respect to the investment directions of the Master Servicer, the Certificate Administrator,
the Trustee, any Borrower or Manager or any losses resulting therefrom, whether from Permitted Investments or otherwise. In the
event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Master
Servicer (or the Special Servicer or the Certificate Administrator, as applicable) shall:

 

(x)           consistent
with any notice required to be given thereunder, demand that payment thereon be made on the last day such Permitted Investment
may otherwise mature hereunder in an amount equal to the lesser of (1) all amounts then payable thereunder and (2) the amount required
to be withdrawn on such date; and

 

(y)           demand
payment of all amounts due thereunder promptly upon determination by the Master Servicer (or the Special Servicer or the Certificate
Administrator, as applicable) that such Permitted Investment would not constitute a Permitted Investment in respect of funds thereafter
on deposit in the related Investment Account.

 

(b)           All
income and gain realized from investment of funds deposited in any Investment Account shall be for the benefit of the Master Servicer
(except with respect to the investment of funds deposited in (i) any Borrower Account, which shall be for the benefit of the related
Borrower to the extent required under the related Loan Documents for the Mortgage Loan or applicable law, (ii) any REO Account
and the Loss of Value Reserve Fund, which shall be for the benefit of the Special Servicer or (iii) the Excess Liquidation Proceeds
Account, the Interest Reserve Account and the Distribution Accounts, which shall be for the benefit of the Certificate Administrator)
and, if held in the Collection Account, any Serviced Loan Combination Collection Account, REO Account or Distribution Account shall
be subject to withdrawal by the Master Servicer, the Special Servicer or the Certificate Administrator, as applicable, in accordance
with Section 3.06 or Section 3.15(b) of this Agreement, as applicable. The Master Servicer, or with respect to any REO Account
or Loss of Value Reserve Fund, the

 

    	-179-

    	 

    

 

Special Servicer, or with respect to the Excess Liquidation Proceeds Account, the Distribution
Accounts, the Certificate Administrator, shall deposit from its own funds into the Collection Account, the applicable Serviced
Loan Combination Collection Account, any REO Account or Loss of Value Reserve Fund, the Excess Liquidation Proceeds Account, the
Interest Reserve Account or the Distribution Accounts, as applicable, the amount of any loss incurred in respect of any such Permitted
Investment immediately upon realization of such loss; provided, that the Master Servicer, the Special Servicer or the Certificate
Administrator, as applicable, may reduce the amount of such payment to the extent it forgoes any investment income in such Investment
Account otherwise payable to it. The Master Servicer shall also deposit from its own funds in any Borrower Account immediately
upon realization of such loss the amount of any loss incurred in respect of Permitted Investments, except to the extent that amounts
are invested at the direction of or for the benefit of the Borrower under the terms of the related Loan Documents for the Mortgage
Loan, Serviced Loan Combination or applicable law; provided that neither the Master Servicer nor the Special Servicer shall
be required to deposit any loss on an investment of funds in an Investment Account if such loss is incurred solely as a result
of the insolvency of the federal or state chartered depository institution or trust company that holds such Investment Account,
so long as such depository institution or trust company has satisfied the qualifications set forth in the definition of Eligible
Account both (x) at the time the investment was made and (y) 30 days prior to such insolvency.

 

(c)           Except
as otherwise expressly provided in this Agreement, if any default occurs in the making of a payment due under any Permitted Investment,
or if a default occurs in any other performance required under any Permitted Investment, in either case as a result of an action
or inaction of the Master Servicer, the Special Servicer or the Certificate Administrator, as applicable, the Trustee may, and
upon the request of Holders of Certificates entitled to a majority of the Voting Rights allocated to any Class shall, take such
action as may be appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings.
If the Trustee takes any such action, (i) the Master Servicer, if such Permitted Investment was for the benefit of the Master Servicer,
(ii) the Special Servicer, if such Permitted Investment was for the benefit of the Special Servicer or (iii) the Certificate Administrator,
if such Permitted Investment was for the benefit of the Certificate Administrator, shall pay or reimburse the Trustee for all reasonable
out-of-pocket expenses, disbursements and advances incurred or made by the Trustee in connection therewith.

 

Notwithstanding the foregoing,
for so long as Wells Fargo Bank, National Association is Certificate Administrator, funds held in the Distribution Account, Interest
Reserve Account and Excess Liquidation Proceeds Account shall not be invested.

 

Section 3.08          Maintenance
of Insurance Policies and Errors and Omissions and Fidelity Coverage.   (a)  In the case of each
Mortgage Loan or Serviced Loan Combination, as applicable (but excluding any REO Loan and any Non-Serviced Mortgage Loan), the
Master Servicer shall use commercially reasonable efforts consistent with the Servicing Standard to cause the related Borrower,
with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) and Serviced Loan Combinations that it is servicing,
to maintain the following insurance coverage (including identifying the extent to which such Borrower is maintaining insurance
coverage and, if such Borrower does not so maintain, the Master Servicer will itself cause to be maintained with Qualified Insurers)
for the related Mortgaged Property: (x) except

 

    	-180-

    	 

    

 

where the Loan Documents
permit a Borrower to rely on self-insurance provided by a tenant, a fire and casualty extended coverage insurance policy, which
does not provide for reduction due to depreciation, in an amount that is at least equal to the lesser of (i) the full replacement
cost of improvements securing such Mortgage Loan or Serviced Loan Combination, as applicable, and (ii) the Stated Principal Balance
of such Mortgage Loan or Serviced Loan Combination, as applicable, but, in any event, in an amount sufficient to avoid the application
of any co-insurance clause and (y) all other insurance coverage (including, but not limited to, coverage for acts of terrorism)
that is required, subject to applicable law, under the related Loan Documents; provided, that:

 

(i)            the
Master Servicer shall not be required to maintain any earthquake or environmental insurance policy on any Mortgaged Property unless
the Trustee has an insurable interest and (x) such insurance policy was in effect at the time of the origination of the related
Mortgage Loan or Serviced Loan Combination, as applicable, or (y) such insurance policy was required by the related Loan Documents
and is available at commercially reasonable rates, provided that the Master Servicer shall require the related Borrower
to maintain such insurance in the amount, in the case of clause (x), maintained at origination, and in the case of clause (y),
required by such Mortgage Loan or Serviced Loan Combination, in each case, to the extent such amounts are available at commercially
reasonable rates and to the extent the Trustee has an insurable interest;

 

(ii)           if
and to the extent that any Loan Document grants the lender thereunder any discretion (by way of consent, approval or otherwise)
as to the insurance provider from whom the related Borrower is to obtain the requisite insurance coverage, the Master Servicer
shall (to the extent consistent with the Servicing Standard) require the related Borrower to obtain the requisite insurance coverage
from Qualified Insurers;

 

(iii)          the
Master Servicer shall have no obligation beyond using its reasonable efforts consistent with the Servicing Standard to cause any
Borrower to maintain the insurance required to be maintained under the Loan Documents; provided, that this clause shall
not limit the Master Servicer’s obligation to obtain and maintain a force-placed insurance policy, as provided herein;

 

(iv)          except
as provided below (including under clause (vi) below), in no event shall the Master Servicer be required to cause the Borrower
to maintain, or itself obtain, insurance coverage to the extent that the failure of such Borrower to maintain insurance coverage
is an Acceptable Insurance Default (as determined by the Special Servicer);

 

(v)           to
the extent that the Master Servicer itself is required to maintain insurance that the Borrower does not maintain, the Master Servicer
will not be required to maintain insurance other than what is available to the Master Servicer on a force-placed basis at commercially
reasonable rates, and only to the extent the Trust as lender has an insurable interest thereon; and

 

    	-181-

    	 

    

 

(vi)       
 any explicit terrorism insurance requirements contained in the related Loan Documents shall be enforced by the Master
Servicer in accordance with the Servicing Standard, unless the Special Servicer (and, if no Control Termination Event has
occurred and is continuing, the Directing Holder) have consented to a waiver (including a waiver to permit the
Master Servicer to accept insurance that does not comply with specific requirements contained in the Loan Documents) in
writing of that provision in accordance with the Servicing Standard; provided that the Special Servicer shall promptly
notify the Master Servicer in writing of such waiver.

 

The Master Servicer shall
notify the Special Servicer, the Certificate Administrator, the Trustee and the Directing Holder if the Master Servicer determines
in accordance with the Servicing Standard that a Borrower under a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Loan Combination has failed to maintain insurance required under the Loan Documents and such failure materially and adversely affects
the interests of the Certificateholders or if a Borrower under a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Loan Combination has notified the Master Servicer in writing that the Borrower does not intend to maintain such insurance and that
the Master Servicer has determined in accordance with the Servicing Standard that such failure materially and adversely affects
the interests of the Certificateholders.

 

Subject to Section 3.15(b)
of this Agreement, with respect to each Serviced REO Property, the Special Servicer shall use reasonable efforts and only if the
Trustee has an insurable interest, consistent with the Servicing Standard, to maintain (subject to the right of the Special Servicer
to direct the Master Servicer to make a Property Advance for the costs associated with coverage that the Special Servicer determines
to maintain, in which case the Master Servicer shall make such Property Advance) with Qualified Insurers to the extent reasonably
available at commercially reasonable rates and to the extent the Trustee has an insurable interest, (a) a fire and casualty extended
coverage insurance policy, which does not provide for reduction due to depreciation, in an amount that is at least equal to the
lesser of the full replacement value of the Mortgaged Property or the Stated Principal Balance of the Mortgage Loan, Serviced REO
Loan or the Serviced Loan Combination, as applicable (or such greater amount of coverage required by the related Loan Documents
(unless such amount is not available or, if no Control Termination Event has occurred and is continuing, the Directing Holder has
consented to a lower amount)), but, in any event, in an amount sufficient to avoid the application of any co-insurance clause,
(b) a comprehensive general liability insurance policy with coverage comparable to that which would be required under prudent lending
requirements and in an amount not less than $1.0 million per occurrence, and (c) to the extent consistent with the Servicing Standard,
a business interruption or rental loss insurance covering revenues or rents for a period of at least 12 months; provided, that
the Special Servicer shall not be required in any event to maintain or obtain insurance coverage described in this paragraph beyond
what is reasonably available at a commercially reasonable rate and consistent with the Servicing Standard.

 

All such insurance policies
maintained as described above shall contain (if they insure against loss to property) a “standard” mortgagee clause,
with loss payable to the Master Servicer (on behalf of the Trustee on behalf of Certificateholders and, with respect to a

 

    	-182-

    	 

    

 

Serviced
Loan Combination, the related Serviced Companion Loan Noteholders), or shall name the Trustee as the insured, with loss payable
to the Special Servicer on behalf of the Trustee (on behalf of Certificateholders and, with respect to a Serviced Loan Combination,
the related Serviced Companion Loan Noteholders) (in the case of insurance maintained in respect of an REO Property). Any amounts
collected by the Master Servicer or Special Servicer, as applicable, under any such policies (other than amounts to be applied
to the restoration or repair of the related Mortgaged Property or Serviced REO Property or amounts to be released to the related
Borrower, in each case in accordance with the Servicing Standard) shall be deposited in the Collection Account (or, in the case
of the Serviced Loan Combinations, in the applicable Serviced Loan Combination Collection Account), subject to withdrawal pursuant
to Section 3.06 of this Agreement, in the case of amounts received in respect of a Mortgage Loan (other than a Non-Serviced Mortgage
Loan) or Serviced Loan Combination, or in the applicable REO Account of the Special Servicer, subject to withdrawal pursuant to
Section 3.15 of this Agreement, in the case of amounts received in respect of a Serviced REO Property. Any cost incurred by the
Master Servicer or the Special Servicer in maintaining any such insurance shall not, for purposes hereof, including calculating
monthly distributions to Certificateholders or Serviced Companion Loan Noteholders, be added to the Stated Principal Balance of
the related Mortgage Loan or the Serviced Loan Combination, notwithstanding that the terms of such Mortgage Loan or Serviced Loan
Combination so permit; provided, that this sentence shall not limit the rights of the Master Servicer or Special Servicer
on behalf of the Trust Fund to enforce any obligations of the related Borrower under such Mortgage Loan (other than a Non-Serviced
Mortgage Loan) or Serviced Loan Combination. Any costs incurred by the Master Servicer in maintaining any such insurance policies
in respect of the Mortgage Loans or Serviced Loan Combination or Specially Serviced Loans (other than REO Properties) (i) if the
Borrower defaults on its obligation to do so, shall be advanced by the Master Servicer as a Property Advance and will be charged
to the related Borrower and (ii) shall not, for purposes of calculating monthly distributions to Certificateholders, be added to
the Stated Principal Balance of the related Mortgage Loan, notwithstanding that the terms of such Mortgage Loan so permit. Any
cost incurred by the Special Servicer in maintaining any such Insurance Policies with respect to Serviced REO Properties shall
be an expense of the Trust Fund (and in the case of any Serviced Loan Combination, such expense shall be allocated in accordance
with the allocation provisions of the related Intercreditor Agreement) payable out of the related REO Account (or Serviced Loan
Combination REO Account, as applicable) or, if the amount on deposit therein is insufficient therefor, advanced by the Master Servicer
as a Property Advance (or paid from the Collection Account or Serviced Loan Combination Collection Account, as applicable, if the
Master Servicer determines such Advance would be a Nonrecoverable Advance, subject to Section 3.21(d) of this Agreement).

 

(b)           If
either:

 

(x) the Master
Servicer or Special Servicer obtains and maintains, or causes to be obtained and maintained, a blanket policy or master force-placed
policy insuring against hazard losses on all of the Mortgage Loans (other than Non-Serviced Mortgage Loans), Serviced Loan Combinations
or Serviced REO Properties, as applicable, then, to the extent such policy

 

(i)        is
obtained from a Qualified Insurer, and

 

    	-183-

    	 

    

 

(ii)       provides
protection equivalent to the individual policies otherwise required, or

 

(y) the Master
Servicer or the Special Servicer (or, in each case, its corporate parent), as applicable, has long-term unsecured debt obligations
that are rated at least “A2” by Moody’s and “A-” by Fitch, and the Master Servicer or Special Servicer
self-insures for its obligation to maintain the individual policies otherwise required,

 

then the Master Servicer
or the Special Servicer shall conclusively be deemed to have satisfied its obligation to cause hazard insurance to be maintained
on the related Mortgaged Properties or Serviced REO Properties, as applicable.

 

Such a blanket or master
force-placed policy may contain a deductible clause (not in excess of a customary amount), in which case the Master Servicer or
Special Servicer, as the case may be, that maintains such policy shall, if there shall not have been maintained on any Mortgaged
Property securing a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced REO Property thereunder a hazard insurance
policy complying with the requirements of Section 3.08(a) of this Agreement, and there shall have been one or more losses that
would have been covered by such an individual policy, promptly deposit into the Collection Account (or, in the case of a Serviced
Loan Combination, in the related Serviced Loan Combination Collection Account), from its own funds, the amount not otherwise payable
under the blanket or master force-placed policy in connection with such loss or losses because of such deductible clause to the
extent that any such deductible exceeds the deductible limitation that pertained to the related Mortgage Loan or the related Serviced
Loan Combination, as applicable (or, in the absence of any such deductible limitation, the deductible limitation for an individual
policy which is consistent with the Servicing Standard). The Master Servicer and Special Servicer shall prepare and present, on
behalf of itself, the Trustee, Certificateholders and, if applicable the Serviced Companion Loan Noteholders, claims under any
such blanket or master force-placed policy maintained by it in a timely fashion in accordance with the terms of such policy. If
the Master Servicer or Special Servicer, as applicable, causes any Mortgaged Property securing a Mortgage Loan (other than a Non-Serviced
Mortgage Loan) or Serviced REO Property to be covered by such “force-placed” insurance policy, the incremental costs
of such insurance applicable to such Mortgaged Property or Serviced REO Property (i.e., other than any minimum or standby
premium payable for such policy whether or not any Mortgaged Property or Serviced REO Property is covered thereby) shall be paid
as a Property Advance.

 

(c)           With
respect to each Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Loan Combination, as applicable, that is
subject to an Environmental Insurance Policy, if the Master Servicer has actual knowledge of any event giving rise to a claim under
an Environmental Insurance Policy, the Master Servicer shall notify the Special Servicer to such effect and the Master Servicer
shall take reasonable actions as are in accordance with the Servicing Standard and the terms and conditions of such Environmental
Insurance Policy to make a claim thereunder and achieve the payment of all amounts to which the Trust is entitled thereunder. With
respect to each Specially Serviced Loan and Serviced REO Property that is subject to an Environmental Insurance Policy, if the
Special Servicer has actual knowledge of any event giving rise to a claim under an Environmental Insurance Policy,

 

    	-184-

    	 

    

 

such Special
Servicer shall take reasonable actions as are in accordance with the Servicing Standard and the terms and conditions of such Environmental
Insurance Policy to make a claim thereunder and achieve the payment of all amounts to which the Trust, on behalf of the Certificateholders
and, if applicable, the Serviced Companion Loan Noteholders (giving due regard to the junior nature of the related Subordinate
Companion Loan, if any), is entitled thereunder. Any legal fees or other out-of-pocket costs incurred in accordance with the Servicing
Standard in connection with any claim under an Environmental Insurance Policy described above (whether by the Master Servicer or
Special Servicer) shall be paid by, and reimbursable to, the Master Servicer, as a Property Advance.

 

(d)           The
Master Servicer and Special Servicer shall at all times during the term of this Agreement (or, in the case of the Special Servicer,
at all times during the term of this Agreement during which Specially Serviced Loans and/or Serviced REO Properties as to which
it is the Special Servicer are included in the Trust Fund) keep in force with a Qualified Insurer, a fidelity bond in such form
and amount as are consistent with the Servicing Standard. The Master Servicer or Special Servicer, as applicable, shall be deemed
to have complied with the foregoing provision if an Affiliate thereof has such fidelity bond coverage and, by the terms of such
fidelity bond, the coverage afforded thereunder extends to the Master Servicer or Special Servicer, as the case may be. Such fidelity
bond shall provide that it may not be canceled without ten days’ prior written notice to the Trustee. So long as the long-term
unsecured debt obligations or deposit accounts of the Master Servicer (or its corporate parent if such insurance is guaranteed
by its parent) or the Special Servicer (or its corporate parent), as applicable, are rated at least “A2” by Moody’s,
“A-” by Fitch and no lower than its equivalent by KBRA (if then rated by KBRA), the Master Servicer or the Special
Servicer, as applicable, may self-insure with respect to the fidelity bond coverage required as described above, in which case
it shall not be required to maintain an insurance policy with respect to such coverage.

 

The Master Servicer and
Special Servicer, as applicable, shall at all times during the term of this Agreement (or, in the case of the Special Servicer,
at all times during the term of this Agreement during which Specially Serviced Loans and/or Serviced REO Properties exist as part
of the Trust Fund) also keep in force with a Qualified Insurer a policy or policies of insurance covering loss occasioned by the
errors and omissions of its officers and employees in connection with their servicing obligations hereunder, which policy or policies
shall be in such form and amount as are consistent with the Servicing Standard. The Master Servicer or the Special Servicer, as
applicable, shall be deemed to have complied with the foregoing provisions if an Affiliate thereof has such insurance and, by the
terms of such policy or policies, the coverage afforded thereunder extends to the Master Servicer or Special Servicer, as the case
may be. Any such errors and omissions policy shall provide that it may not be canceled without ten days’ prior written notice
to the Trustee. So long as the long-term unsecured debt obligations of the Master Servicer or deposit accounts (or its corporate
parent if such insurance is guaranteed by its parent) or the Special Servicer (or its corporate parent), as applicable, are rated
not lower than “A2” by Moody’s, “A-“ by Fitch and no lower than its equivalent by KBRA (if then rated
by KBRA), the Master Servicer or the Special Servicer, as applicable, may self-insure with respect to the errors and omissions
coverage required as described above, in which case it shall not be required to maintain an insurance policy with respect to such
coverage.

 

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Section
3.09          Enforcement of Due-on-Sale Clauses; Assumption Agreements;
Defeasance Provisions.    (a)         If any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or
Serviced Loan Combination contains a provision in the nature of a “due-on-sale” clause (including, without
limitation, sales or transfers of Mortgaged Properties (in full or part) or the sale, transfer, pledge or hypothecation of
direct or indirect interests in the Borrower or its owners), which by its terms:

 

(i)            provides
that such Mortgage Loan or Serviced Loan Combination will (or may at the mortgagee’s option) become due and payable upon
the sale or other transfer of an interest in the related Mortgaged Property (including, without limitation, the sale, transfer,
pledge or hypothecation of direct or indirect interests in the Borrower or its owners),

 

(ii)           provides
that such Mortgage Loan or Serviced Loan Combination may not be assumed without the consent of the related mortgagee in connection
with any such sale or other transfer, or

 

(iii)          provides
that such Mortgage Loan or Serviced Loan Combination may be assumed or transferred without the consent of the mortgagee, provided
certain conditions set forth in the Loan Documents are satisfied,

 

then, for so long as such Mortgage
Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination (or related Mortgage Loan) is included in the Trust
Fund, subject to the rights of the Directing Holder, neither the Master Servicer (with respect to Performing Loans) nor the Special
Servicer (with respect to Specially Serviced Loans), as applicable, on behalf of the Trust Fund, shall be required to enforce any
such due-on-sale clauses and in connection therewith neither shall be required to (x) accelerate payments thereon or (y) withhold
its consent to such an assumption if (1) such provision is not exercisable under applicable law or if the Master Servicer (with
respect to Performing Loans and with the consent of the Special Servicer) or the Special Servicer (with respect to Specially Serviced
Loans), as applicable, determines, subject to the rights of the Directing Holder, that the enforcement of such provision is reasonably
likely to result in meritorious legal action by the related Borrower or (2) the Master Servicer (with the consent of the Special
Servicer) or the Special Servicer, as applicable, determines, in accordance with the Servicing Standard and subject to the rights
of the Directing Holder, that granting such consent would be likely to result in a greater recovery, on a present value basis (discounting
at the related Calculation Rate), than would enforcement of such clause. If the Master Servicer (with respect to Performing Loans
(other than a Non-Serviced Mortgage Loan) and with the consent of the Special Servicer) or the Special Servicer (with respect to
Specially Serviced Loans), as applicable, determines that (A) granting such consent would be likely to result in a greater recovery,
(B) such provision is not legally enforceable, or (C) that the conditions described in clause (a)(iii) above relating to the assumption
or transfer of a related Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination have been satisfied,
the Master Servicer (with respect to Performing Loans) or the Special Servicer (with respect to Specially Serviced Loans) is authorized
to take or enter into an assumption agreement from or with the Person to whom the related Mortgaged Property has been or is about
to be conveyed,

 

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and to release the original Borrower from liability upon such Mortgage Loan and substitute the new Borrower as
obligor thereon, provided that (a) the credit status of the prospective new Borrower is in compliance with the Servicing
Standard and the terms of the related Mortgage and (b) the Master Servicer (with respect to Performing Loans (other than a Non-Serviced
Mortgage Loan)) or the Special Servicer (with respect to Specially Serviced Loans), as applicable, has followed the No Downgrade
Confirmation process pursuant to Section 3.30 relating to the Certificates and Serviced Companion Loan Securities, if any, with
respect to Moody’s, Fitch, KBRA or Morningstar in the case of any such Mortgage Loan that (1) represents more than 5% of
the aggregate Stated Principal Balance of the Mortgage Loans then outstanding and has a Stated Principal Balance of at least $10,000,000,
(2) has a Stated Principal Balance that is more than $35,000,000, (3) represents one of the ten largest Mortgage Loans based on
Stated Principal Balance and has a Stated Principal Balance of at least $10,000,000 or (4) is a Mortgage Loan as to which the related
Serviced Companion Loan represents one of the ten largest mortgage loans in the related Other Securitization based on outstanding
principal balance (provided, that the Master Servicer or Special Servicer, as applicable, shall be entitled to reasonably rely
upon the written notification provided by the master servicer, special servicer, trustee or certificate administrator of the applicable
Other Securitization as to whether such Serviced Companion Loan is one of the 10 largest mortgage loans in such Other Securitization).
In addition, with respect to each Serviced Companion Loan, neither the Master Servicer nor the Special Servicer, as applicable,
shall waive any rights under a due on sale clause unless it first obtains a No Downgrade Confirmation with respect to the related
Serviced Companion Loan Securities to the extent required. The Master Servicer and the Special Servicer shall be entitled to rely
on the master servicer and/or the special servicer of the Other Securitization to determine whether a No Downgrade Confirmation
is required with respect to the Serviced Companion Loans under the Other Securitization. In connection with each such assumption
or substitution entered into by the Special Servicer, the Special Servicer shall give prior notice thereof to the Master Servicer.
The Master Servicer (with respect to Performing Loans) or the Special Servicer (with respect to Specially Serviced Loans) shall
notify the Trustee, the Certificate Administrator, the Directing Holder and the Master Servicer or the Special Servicer, as applicable,
that any such assumption or substitution agreement has been completed by forwarding to the Custodian (with a copy to the Master
Servicer, the Certificate Administrator, the Trustee and the Directing Holder, as applicable) the original copy of such agreement,
which copies shall be added to the related Mortgage File and shall, for all purposes, be considered a part of such Mortgage File
to the same extent as all other documents and instruments constituting a part thereof. To the extent not precluded by the Loan
Documents, neither the Master Servicer (with respect to Performing Loans) nor the Special Servicer (with respect to Specially Serviced
Loans) shall approve an assumption or substitution without requiring the related Borrower to pay any fees owed to the Rating Agencies
associated with the approval of such assumption or substitution. However, if the related Borrower is required but fails to pay
such fees, such fees shall be an expense of the Trust Fund provided that in the case of a Serviced Loan Combination the Master
Servicer (if such Serviced Loan Combination is a Performing Loan) or the Special Servicer (if such Serviced Loan Combination is
a Specially Serviced Mortgage Loan) shall be required, after receiving payment from amounts on deposit in the Collection Account,
if any, to (i) promptly notify the holder of the related Companion Loan and (ii) use commercially reasonable efforts to exercise
on behalf of the Trust Fund the rights of the Trust Fund under the related Intercreditor Agreement to obtain reimbursement for
a pro rata portion of such amount

 

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allocable to the related Serviced Companion Loan from the holders of such Serviced Companion
Loan.

 

(b)           If
any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination contains a provision in the nature of
a “due-on-encumbrance” clause, which by its terms:

 

(i)            provides
that such Mortgage Loan or Serviced Loan Combination shall (or may at the mortgagee’s option) become due and payable upon
the creation of any lien or other encumbrance on the related Mortgaged Property or any direct or indirect ownership interest in
the related Borrower (including, unless specifically permitted, any mezzanine financing of the Borrower or the Mortgaged Property
or any sale or transfer of preferred equity in the related Borrower or its owners),

 

(ii)           requires
the consent of the related mortgagee to the creation of any such lien or other encumbrance on the related Mortgaged Property (including,
without limitation, any mezzanine financing of the related Borrower or the Mortgaged Property or any sale or transfer of preferred
equity in the related Borrower or its owners), or

 

(iii)          provides
that such Mortgaged Property may be further encumbered without the consent of the mortgagee (including, without limitation, any
mezzanine financing of the related Borrower or the Mortgaged Property or any sale or transfer of preferred equity in the related
Borrower or its owners), provided certain conditions set forth in the Loan Documents are satisfied,

 

then, neither the Master Servicer
(with respect to Performing Loans other than a Non-Serviced Mortgage Loan) nor the Special Servicer (with respect to Specially
Serviced Loans), on behalf of the Trust Fund, shall be required to enforce such due-on-encumbrance clauses and in connection therewith,
will not be required to (i) accelerate the payments on the related Mortgage Loan or Serviced Loan Combination or (ii) withhold
its consent to such lien or encumbrance, if the Master Servicer (with the consent of the Special Servicer) or the Special Servicer,
as applicable, subject to the rights of the Directing Holder, (x) determines, in accordance with the Servicing Standard that such
enforcement would not be in the best interests of the Trust Fund or the holder of the related Serviced Companion Loan, if applicable
(giving due regard to the junior nature of the related Subordinate Companion Loan, if any), or that in the case of a Mortgage Loan
(other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination described in clause (b)(iii) above that the conditions to
further encumbrance have been satisfied and (y) as to any Mortgage Loan or Serviced Loan Combination, follows the No Downgrade
Confirmation procedure pursuant to Section 3.30 with respect to Moody’s, Fitch, KBRA or Morningstar in the case of any such
Mortgage Loan that (1) represents more than 2% of the aggregate Stated Principal Balance of the Mortgage Loans then outstanding,
(2) has a Stated Principal Balance that is more than $20,000,000, (3) represents one of the ten largest Mortgage Loans based on
Stated Principal Balance, (4) has an aggregate loan-to-value ratio (including any existing and proposed additional debt) that is
equal to or greater than 85%, (5) has an aggregate Debt Service Coverage Ratio (in each case, determined based upon the aggregate
of the Stated Principal Balance of the related Mortgage Loan, any existing additional debt and the principal amount of the proposed
additional lien) that is less than 1.20x or (6) is a

 

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Mortgage Loan as to which the related Serviced Companion Loan represents one
of the ten largest mortgage loans in the related Other Securitization based on outstanding principal balance (provided, that the
Master Servicer or Special Servicer, as applicable, shall be entitled to reasonably rely upon the written notification provided
by the master servicer, special servicer, trustee or certificate administrator, as applicable, of the applicable Other Securitization
regarding whether the Serviced Companion Loan is one of the 10 largest mortgage loans in such Other Securitization) provided, that
with respect to clauses (1), (3), (4), (5) and (6), such Mortgage Loan shall have a Stated Principal Balance of at least $10,000,000
for the requirement of a No Downgrade Confirmation to apply. In addition, with respect to each Serviced Companion Loan, neither
the Master Servicer nor the Special Servicer, as applicable, shall waive any rights under a due-on-encumbrance clause unless it
first obtains a No Downgrade Confirmation with respect to the related Serviced Companion Loan Securities. To the extent not precluded
by the Loan Documents, neither the Master Servicer (with respect to Performing Loans) nor the Special Servicer (with respect to
Specially Serviced Loans) shall approve an assumption or substitution without requiring the related Borrower to pay any fees owed
to the Rating Agencies associated with the approval of such lien or encumbrance. However, if the related Borrower is required but
fails to pay such fees, such fees shall be an expense of the Trust Fund; provided that in the case of a Serviced Loan Combination
the Master Servicer (if such Serviced Loan Combination is a Performing Loan) or the Special Servicer (if such Serviced Loan Combination
is a Specially Serviced Mortgage Loan) shall be required, after receiving payment from amounts on deposit in the Collection Account,
if any, to (i) promptly notify the holder of the related Companion Loan and (ii) use commercially reasonable efforts to exercise
on behalf of the Trust Fund the rights of the Trust Fund under the related Intercreditor Agreement to obtain reimbursement for
a pro rata portion of such amount allocable to the related Serviced Companion Loans from the holders of such Serviced Companion
Loans.

 

(c)           The
Special Servicer may not waive its rights or grant its consent under any “due-on-sale” or “due-on-encumbrance”
clause relating to any Specially Serviced Loan without, if no Control Termination Event has occurred and is continuing, the consent
of the Directing Holder. The Directing Holder shall have 10 Business Days (or longer period provided by the related Intercreditor
Agreement) after receipt of notice along with the Special Servicer’s recommendation and analysis with respect to such waiver
and any additional information the Directing Holder may reasonably request from the Special Servicer of a proposed waiver or consent
under any “due-on-sale” or “due-on-encumbrance” clause in which to grant or withhold its consent (provided
that if the Special Servicer fails to receive a response to such notice from the Directing Holder in writing within such period,
then the Directing Holder shall be deemed to have consented to such proposed waiver or consent).

 

(d)           The
Master Servicer and the Special Servicer, as applicable, shall provide copies of any waivers it effects pursuant to Section 3.09(a)
or (b) of this Agreement to the other party, the 17g-5 Information Provider (who shall promptly post such waivers to the 17g-5
Information Provider’s Website pursuant to Section 3.14(d) of this Agreement) and the related Other 17g-5 Information Provider
(if any) with respect to each Mortgage Loan or Serviced Loan Combination.

 

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(e)           Nothing
in this Section 3.09 shall constitute a waiver of the Trustee’s right, as the mortgagee of record, to receive notice of any
assumption of a Mortgage Loan, any sale or other transfer of the related Mortgaged Property or the creation of any lien or other
encumbrance with respect to such Mortgaged Property.

 

(f)            In
connection with the taking of, or the failure to take, any action pursuant to this Section 3.09, the Special Servicer shall not
agree to modify, waive or amend, and no assumption or substitution agreement entered into pursuant to Section 3.09(a) of this Agreement
shall contain any terms that are different from, any term of any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Loan Combination or the related Note, other than pursuant to Section 3.26 hereof, as applicable.

 

(g)           With
respect to any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination which permits release of Mortgaged
Properties through defeasance:

 

(i)            Subject
to the consent rights and process set forth in Section 6.07(a) with respect to Major Decisions, the Master Servicer shall process
all defeasances of Mortgage Loans (other than any Non-Serviced Mortgage Loan) and Serviced Companion Loans in accordance with the
terms of the related Loan Documents, and shall be entitled to any defeasance fees paid relating thereto (provided that for
the avoidance of doubt, any such defeasance fee shall not include any Modification Fees in connection with a defeasance that the
Special Servicer is entitled to under this Agreement).

 

(ii)           If
such Mortgage Loan or Serviced Loan Combination requires that the lender purchase the required government securities, then the
Master Servicer shall purchase, or shall cause the purchase of, such obligations on behalf of the Trust, at the related Borrower’s
expense, in accordance with the terms of such Mortgage Loan; provided that the Master Servicer shall not accept the amounts
paid by the related Borrower to effect defeasance until acceptable government securities have been identified.

 

(iii)          To
the extent not inconsistent with such Mortgage Loan or Serviced Loan Combination, the Master Servicer shall require the related
Borrower to provide an Opinion of Counsel (which shall be an expense of the related Borrower) to the effect that the Trustee has
a first priority perfected security interest in the defeasance collateral (including the government securities) and the assignment
of the defeasance collateral is valid and enforceable; such opinion, together with any other certificates or documents to be required
in connection with such defeasance shall be in form and substance acceptable to each Rating Agency.

 

(iv)          To
the extent not inconsistent with such Mortgage Loan or Serviced Loan Combination, the Master Servicer shall require a certificate
at the related Borrower’s expense from an Independent certified public accountant certifying to the effect that the government
securities will provide cash flows sufficient to meet all payments of interest and principal (including payments at maturity) on
such Mortgage

 

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Loan or Serviced Loan Combination in compliance with the requirements of the terms of the related Loan Documents.

 

(v)           Prior
to permitting the release of any Mortgaged Property through defeasance, the Master Servicer shall obtain, at the related Borrower’s
expense, a No Downgrade Confirmation; provided, the Master Servicer shall not be required to obtain such No Downgrade Confirmation
from any Rating Agency if such Mortgage Loan or Serviced Loan Combination at the time of such defeasance is not (x) a Mortgage
Loan that is one of the ten largest Mortgage Loans by Stated Principal Balance, (y) a Mortgage Loan with a Stated Principal Balance
equal to or greater than $20,000,000 or (z) a Mortgage Loan that represents 5% or more of the Stated Principal Balance of all Mortgage
Loans.

 

(vi)          Prior
to permitting release of any Mortgaged Property through defeasance, the Master Servicer shall require an Opinion of Counsel to
the effect that such release will not cause either Trust REMIC to fail to qualify as a REMIC at any time that any Certificates
are outstanding or cause a tax to be imposed on the Trust Fund under the REMIC Provisions; provided that to the extent not
inconsistent with the Mortgage Loan or Serviced Loan Combination, the related Borrower shall pay the cost related to the Opinion
of Counsel (and shall otherwise be a Servicing Advance).

 

(vii)         No
defeasance shall occur on or prior to the second anniversary of the Startup Day of the Trust REMICs, or in the case of any Companion
Loan, the second anniversary of the startup day of any REMIC holding such Companion Loan.

 

(viii)        The
Trustee shall at the expense of the related Borrower (to the extent not inconsistent with the related Loan Documents) hold the
U.S. government securities as pledgee for the benefit of the Certificateholders and, if applicable, the Serviced Companion Loan
Noteholders, and the Certificate Administrator shall apply payments of principal and interest received on the government obligations
to the Collection Account (or Serviced Loan Combination Collection Account) in respect of the defeased Mortgage Loan or Serviced
Companion Loan according to the payment schedule existing immediately prior to the defeasance.

 

(ix)          The
Master Servicer shall, in accordance with the Servicing Standard, enforce provisions in the Mortgage Loans that it is servicing
requiring Borrowers to pay all reasonable expenses associated with a defeasance.

 

(x)            To
the extent not inconsistent with such Mortgage Loan or Serviced Loan Combination, or to the extent the related Loan Documents provide
the lender with discretion, the Master Servicer shall require a single purpose entity, formed solely for the purpose of owning
and pledging the government securities related to one or more of the Mortgage Loans or Serviced Loan Combinations, to act as a
successor Borrower.

 

(xi)           The
Master Servicer may accept as defeasance collateral of any “government security,” within the meaning of Treasury Regulation’s
Section 1.860G-(2)(a)(8)(ii), notwithstanding any more restrictive requirements in the Loan Documents;

 

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provided, that the
Master Servicer has received an Opinion of Counsel that acceptance of such defeasance collateral will not cause an Adverse REMIC
Event.

 

(xii)         Neither
the Master Servicer nor the Special Servicer shall charge a fee for defeasance in excess of that permitted under the Loan Documents
in the event that the Loan Documents provide for such a fee limitation.

 

(h)           Subject
to Sections 3.23(e) and 6.07 of this Agreement, with respect to all Specially Serviced Loans and Performing Loans, the Special
Servicer shall, prior to waiving its rights or granting its consent to any proposed action of the Master Servicer under this Section
3.09, and prior to itself taking such an action, obtain the written consent of the Directing Holder, which consent shall be deemed
given 10 Business Days (or such longer period if necessary for a Serviced Loan Combination pursuant to the terms of the related
Intercreditor Agreement) after receipt (unless earlier objected to) by the Directing Holder of the Master Servicer’s and/or
Special Servicer’s, as applicable, written analysis and recommendation with respect to such action together with such other
information reasonably required by the Directing Holder. When the Special Servicer’s consent is requested under this Section
3.09, such consent shall be deemed given 15 Business Days (or such longer time period pursuant to the terms of the related Intercreditor
Agreement but not less than five (5) Business Days after the time period set forth therein for Directing Holder approval) after
receipt (unless earlier objected to) by the Special Servicer from the Master Servicer of the Master Servicer’s written analysis
and recommendation with respect to such proposed action together with such other information reasonably required by the Special
Servicer.

 

Section 3.10           Appraisals;
Realization upon Defaulted Mortgage Loans.   (a)       Other than with respect
to a Non-Serviced Mortgage Loan, contemporaneously with the earliest of (i) the effective date of any (A) modification of the
Maturity Date or extended Maturity Date, a Mortgage Rate, principal balance or amortization terms of any Mortgage Loan or Serviced
Loan Combination or any other term of a Mortgage Loan or Serviced Loan Combination, (B) extension of the Maturity Date or extended
Maturity Date of a Mortgage Loan or Serviced Loan Combination as described below in Section 3.26 of this Agreement, or (C) consent
to the release of any Mortgaged Property from the lien of the related Mortgage other than pursuant to the terms of the related
Mortgage Loan or Serviced Loan Combination, (ii) the occurrence of an Appraisal Reduction Event, (iii) a default in the payment
of a Balloon Payment for which an extension is not granted, or (iv) the date on which the Special Servicer, consistent with the
Servicing Standard, requests an Updated Valuation, the Special Servicer shall use commercially reasonable efforts to obtain an
Updated Valuation (or a letter update for an existing appraisal which is less than two years old) within 60 days of such request,
the cost of which shall constitute a Property Advance; provided, that the Special Servicer shall not be required to obtain an
Updated Valuation pursuant to clauses (i) through (iv) above with respect to any Mortgaged Property for which there exists an
Appraisal, Updated Appraisal or Small Loan Appraisal Estimate which is less than nine months old unless the Special Servicer has
actual knowledge of a material adverse change in circumstances that, consistent with the Servicing Standard, would call into question
the validity of such Appraisal, Updated Appraisal or Small Loan Appraisal Estimate. For so long as such Mortgage Loan or Serviced
Loan Combination is a Specially Serviced Loan, the Special Servicer shall obtain letter updates to each Updated Valuation every
nine months, and the Master Servicer shall recalculate the

 

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Appraisal Reduction Amount prior to the Special Servicer granting extensions beyond one year or any subsequent extension after
granting a one year extension with respect to the same Mortgage Loan or Serviced Loan Combination. Subject to any required consent
from the Directing Holder, nothing herein is intended to limit the Special Servicer’s ability to pursue multiple strategies
contemporaneously if the Special Servicer deems such actions appropriate under the Servicing Standard. The Special Servicer shall
update, every nine months, each Small Loan Appraisal Estimate or Updated Appraisal for so long as an Appraisal Reduction
Event exists with respect to the related Mortgage Loan or Serviced Loan Combination and the Master Servicer shall recalculate
the Appraisal Reduction Amount based on such updated Small Loan Appraisal Estimate or Updated Appraisal. The Special Servicer
shall send all such letter updates and Updated Valuations to the Master Servicer, the 17g-5 Information Provider (who shall promptly
post such materials to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement), the related
Serviced Companion Loan Noteholder (if any) and, for so long as no Consultation Termination Event has occurred and is continuing,
the Directing Holder.

 

The Special Servicer
shall monitor each Specially Serviced Loan, evaluate whether the causes of the default can be corrected over a reasonable period
without significant impairment of the value of the related Mortgaged Property, initiate corrective action in cooperation with the
Borrower if, in the Special Servicer’s judgment, cure is likely, and take such other actions (including without limitation,
negotiating and accepting a discounted payoff of a Mortgage Loan or Serviced Loan Combination) as are consistent with the Servicing
Standard. If, in the Special Servicer’s judgment, such corrective action has been unsuccessful, no satisfactory arrangement
can be made for collection of delinquent payments, and the Specially Serviced Loan has not been released from the Trust Fund pursuant
to any provision hereof, and except as otherwise specifically provided in Section 3.09(a) and 3.09(b) of this Agreement, the Special
Servicer may, to the extent consistent with the Asset Status Report (and with the consent of the Directing Holder if no Control
Termination Event has occurred and is continuing) and with the Servicing Standard, accelerate such Specially Serviced Loan and
commence a foreclosure or other acquisition with respect to the related Mortgaged Property or Properties, provided that
the Special Servicer determines that such acceleration and foreclosure are more likely to produce a greater recovery to Certificateholders
and, if applicable, Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders and, if applicable,
Serviced Companion Loan Noteholders constituted a single lender) (and with respect to any Serviced Loan Combination with a related
Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan) on a present value basis
(discounting at the related Calculation Rate) than would a waiver of such default or an extension or modification in accordance
with the provisions of Section 3.26 hereof. In connection with causing the Trust to foreclose on collateral that consists of multiple
properties held for sale to customers by the related Borrower (such as unsold condominium units in a single project), the Special
Servicer directing such foreclosure shall consider the effect of the bidding price for the properties on the tax basis of such
properties if such properties are likely to be treated in the hands of the Trust as properties held for sale to customers. The
Master Servicer shall pay the costs and expenses in any such proceedings as a Property Advance unless the Master Servicer or the
Special Servicer, as applicable, determines, in its good faith judgment, that such Property Advance would constitute a Nonrecoverable
Advance; provided, if such Property Advance would constitute a

 

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Nonrecoverable Advance but the Special Servicer determines
that such payment would be in best interests of the Certificateholders and, if applicable, Serviced Companion Loan Noteholders
as a collective whole (as if such Certificateholders and (with respect to a Serviced Loan Combination) Serviced Companion Loan
Noteholders constituted a single lender (and with respect to any Serviced Loan Combination with a related Subordinate Companion
Loan, taking into account the subordinate nature of such Subordinate Companion Loan) (with the Master Servicer permitted to conclusively
rely upon any such determination by the Special Servicer), the Special Servicer shall direct the Master Servicer to make such payment
from the Collection Account (or, if applicable, the applicable Serviced Loan Combination Collection Account), which payment shall
be an Additional Trust Fund Expense. The Trustee shall be entitled to conclusively rely upon any determination of the Master Servicer
or Special Servicer that a Property Advance, if made, would constitute a Nonrecoverable Advance. If the Master Servicer does not
make such Property Advance in violation of the second preceding sentence, the Trustee shall make such Property Advance, unless
the Trustee determines that such Property Advance would be a Nonrecoverable Advance. The Master Servicer and the Trustee, as applicable,
shall be entitled to reimbursement of Property Advances (with interest at the Advance Rate) made pursuant to this paragraph to
the extent permitted by Section 3.06 of this Agreement.

 

(b)           If
the Special Servicer elects to proceed with a non-judicial foreclosure in accordance with the laws of the state where the Mortgaged
Property is located, the Special Servicer shall not be required to pursue a deficiency judgment against the related Borrower or
any other liable party if (i) the laws of the state do not permit such a deficiency judgment after a non-judicial foreclosure or
(ii) if the Special Servicer determines, in its best judgment, that the likely recovery if a deficiency judgment is obtained will
not be sufficient to warrant the cost, time, expense and/or exposure of pursuing the deficiency judgment and such determination
is evidenced by an Officer’s Certificate delivered to the Trustee and the Certificate Administrator.

 

(c)           In
the event that title to any Mortgaged Property is acquired in foreclosure or by deed in lieu of foreclosure, the deed or certificate
of sale shall be issued to the Trustee (on behalf of the Trust Fund), or to its nominee (which shall not include the Special Servicer)
or a separate Trustee or co-Trustee on behalf of the Trustee as Holder of the Lower-Tier Regular Interests and the Certificateholders
and, if applicable, the Serviced Companion Loan Noteholders. Notwithstanding any such acquisition of title and cancellation of
the related Mortgage Loan or Serviced Loan Combination, as applicable, such Mortgage Loan or Serviced Loan Combination, as applicable,
shall (except for purposes of Section 9.01 of this Agreement) be considered to be a Serviced REO Loan until such time as the related
Serviced REO Property shall be sold by the Trust Fund and shall be reduced only by collections net of expenses. Consistent with
the foregoing, for purposes of all calculations hereunder, so long as such Mortgage Loan or Serviced Loan Combination, as applicable,
shall be considered to be an outstanding Mortgage Loan or Serviced Loan Combination, as applicable:

 

(i)            it
shall be assumed that, notwithstanding that the indebtedness evidenced by the related Note shall have been discharged, such Note
and, for purposes of 

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determining the Stated Principal Balance thereof, the related amortization schedule in effect at the time
of any such acquisition of title shall remain in effect; and

 

(ii)         
 subject to Section 1.02(g) of this Agreement, Net REO Proceeds received in any month shall be applied to amounts that would
have been payable under the related Note(s) in accordance with the terms of such Note(s) and any applicable Intercreditor
Agreement. In the absence of such terms, Net REO Proceeds shall, subject to Section 1.02(g) of this Agreement, be deemed to
have been received first, in payment of the accrued interest that remained unpaid on the date that the related
Serviced REO Property was acquired by the Trust Fund; second, in respect of the delinquent principal installments that
remained unpaid on such date; and thereafter, Net REO Proceeds received in any month shall be applied to the payment
of installments of principal and accrued interest on such Mortgage Loan or Serviced Companion Loan, as applicable, deemed to
be due and payable in accordance with the terms of such Note(s) and such amortization schedule until such principal has been
paid in full and then to other amounts due under such Mortgage Loan or Serviced Companion Loan, as applicable. If such Net
REO Proceeds exceed the Monthly Payment then payable, the excess shall be treated as a Principal Prepayment received in
respect of such Mortgage Loan or Serviced Companion Loan, as applicable.

 

(d)           Notwithstanding
any provision herein to the contrary, the Special Servicer shall not acquire for the benefit of the Trust Fund any personal property
pursuant to this Section 3.10 unless either:

 

(i)            such
personal property is incident to real property (within the meaning of Section 856(e)(l) of the Code) so acquired by the Special
Servicer for the benefit of the Trust Fund; or

 

(ii)           the
Special Servicer shall have requested and received an Opinion of Counsel (which opinion shall be an expense of the Lower-Tier REMIC)
to the effect that the holding of such personal property by the Lower-Tier REMIC will not cause the imposition of a tax on either
Trust REMIC under the REMIC Provisions or cause either Trust REMIC to fail to qualify as a REMIC at any time that any Certificate
is outstanding (and such Opinion of Counsel may be premised on the designation hereby of any such personal property as being deemed
part of an “outside reserve fund” (within the meaning of Treasury Regulations Section 1.860G-2(h)) with the owner of
such personal property for federal income tax purposes to be designated at such time).

 

(e)           Notwithstanding
any provision to the contrary in this Agreement, the Special Servicer shall not, on behalf of the Trust Fund, obtain title to any
direct or indirect partnership interest or other equity interest in any Borrower pledged pursuant to any pledge agreement unless
the Special Servicer shall have requested and received an Opinion of Counsel (which opinion shall be an expense of the Trust Fund
(and in the case of any Serviced Loan Combination, such expense shall be allocated in accordance with the allocation provisions
of the related Intercreditor Agreement)) to the effect that the holding of such partnership interest or other equity interest by
the Trust Fund will not cause the imposition of a tax on either Trust

 

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REMIC under the REMIC Provisions or cause either Trust REMIC
to fail to qualify as a REMIC at any time that any Certificate is outstanding.

 

(f)            Notwithstanding
any provision to the contrary contained in this Agreement, the Special Servicer shall not cause the Trustee, on behalf of the Trust
Fund, to obtain title to a Mortgaged Property as a result of or in lieu of foreclosure or otherwise, to obtain title to any direct
or indirect partnership interest in any Borrower pledged pursuant to a pledge agreement and thereby be the beneficial owner of
a Mortgaged Property, have a receiver of rents appointed with respect to, and shall not otherwise cause the Trustee to acquire
possession of, or take any other action with respect to, any Mortgaged Property if, as a result of any such action, the Trustee,
for the Trust Fund, the Certificateholders or Serviced Companion Loan Noteholders, if applicable, would be considered to hold title
to, to be a “mortgagee-in-possession” of, or to be an “owner” or “operator” of such Mortgaged
Property within the meaning of the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended from
time to time, or any comparable law, unless the Special Servicer has previously determined in accordance with the Servicing Standard,
based on an updated environmental assessment report prepared by an Independent Person who regularly conducts environmental audits,
that:

 

(i)            such
Mortgaged Property is in compliance with applicable environmental laws or, if not, after consultation with an environmental consultant,
that it would be in the best economic interest of the Certificateholders (and with respect to the Serviced Loan Combinations, the
Serviced Companion Loan Noteholders), as a collective whole as if such Certificateholders and, if applicable, Serviced Companion
Loan Noteholders constituted a single lender (and with respect to any Serviced Loan Combination with a related Serviced Subordinate
Companion Loan, taking into account the subordinate nature of such Serviced Subordinate Companion Loan), to take such actions as
are necessary to bring such Mortgaged Property in compliance therewith, and

 

(ii)           there
are no circumstances present at such Mortgaged Property relating to the use, management or disposal of any Hazardous Materials
for which investigation, testing, monitoring, containment, clean-up or remediation could be required under any currently effective
federal, state or local law or regulation, or that, if any such Hazardous Materials are present for which such action could be
required, after consultation with an environmental consultant, it would be in the best economic interest of the Certificateholders
to take such actions with respect to the affected Mortgaged Property.

 

In the event that the
environmental assessment first obtained by the Special Servicer with respect to a Mortgaged Property indicates that such Mortgaged
Property may not be in compliance with applicable environmental laws or that Hazardous Materials may be present but does not definitively
establish such fact, the Special Servicer shall cause such further environmental tests to be conducted by an Independent Person
who regularly conducts such tests as the Special Servicer shall deem prudent to protect the interests of Certificateholders and,
if applicable, the Serviced Companion Loan Noteholders. Any such tests shall be deemed part of the environmental assessment obtained
by the Special Servicer for purposes of this Section 3.10.

 

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(g)           The
environmental assessment contemplated by Section 3.10(e) of this Agreement shall be prepared within three months (or as soon thereafter
as practicable) of the determination that such assessment is required by any Independent Person who regularly conducts environmental
audits for purchasers of commercial property where the Mortgaged Property is located, as determined by the Special Servicer in
a manner consistent with the Servicing Standard. Upon the written direction of the Special Servicer and delivery by the Special
Servicer to the Master Servicer of pertinent back-up information the Master Servicer shall advance the cost of preparation of such
environmental assessments as a Property Advance unless the Master Servicer determines, in its good faith judgment, that such Property
Advance would be a Nonrecoverable Advance. The Master Servicer shall be entitled to reimbursement of Property Advances (with interest
at the Advance Rate) made pursuant to the preceding sentence to the extent permitted by Section 3.06. The Special Servicer shall
provide written reports and a copy of any environmental assessments in electronic format to the Directing Holder (if no Consultation
Termination Event has occurred and is continuing), the Master Servicer, the related Serviced Companion Loan Noteholder (if any)
and the 17g-5 Information Provider (who shall promptly post such materials to the 17g-5 Information Provider’s Website pursuant
to Section 3.14(d) of this Agreement), monthly regarding any actions taken by the Special Servicer with respect to any Mortgaged
Property securing a Defaulted Mortgage Loan or defaulted Serviced Companion Loan as to which the environmental testing contemplated
by Section 3.10(e) of this Agreement has revealed that either of the conditions set forth in clauses (i) and (ii) of the first
sentence thereof has not been satisfied, in each case until the earlier to occur of (i) satisfaction of both such conditions, (ii)
repurchase of the related Mortgage Loan by the Mortgage Loan Seller or (iii) release of the lien of the related Mortgage on such
Mortgaged Property.

 

(h)           If
the Special Servicer determines pursuant to Section 3.10(f)(i) of this Agreement that a Mortgaged Property is not in compliance
with applicable environmental laws but that it is in the best economic interest of the Trust Fund (and with respect to the Serviced
Loan Combinations, the Serviced Companion Loan Noteholders), as a collective whole as if such Certificateholders and, if applicable,
Serviced Companion Loan Noteholders constituted a single lender, to take such actions as are necessary to bring such Mortgaged
Property in compliance therewith, or if the Special Servicer determines pursuant to Section 3.10(f)(ii) of this Agreement that
the circumstances referred to therein relating to Hazardous Materials are present but that it is in the best economic interest
of the Trust Fund (and with respect to the Serviced Loan Combinations, the Serviced Companion Loan Noteholders), as a collective
whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted a single lender, to take
such action with respect to the containment, clean-up or remediation of Hazardous Materials affecting such Mortgaged Property as
is required by law or regulation, the Special Servicer shall (with the consent of the Directing Holder, if no Control Termination
Event has occurred and is continuing) take such action as it deems to be in the best economic interest of the Trust Fund (and with
respect to the Serviced Loan Combinations, the Serviced Companion Loan Noteholders), as a collective whole as if such Certificateholders
and, if applicable, Serviced Companion Loan Noteholders constituted a single lender, but only if the Certificate Administrator
has mailed notice to the Holders of the Regular Certificates and the related Serviced Companion Loan Noteholders of such proposed
action, which notice shall be prepared by the Special Servicer, and only if the Certificate Administrator does not receive,

 

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within
30 days of such notification, instructions from the Holders of Regular Certificates entitled to a majority of the Voting Rights
and, with respect to Serviced Loan Combinations, the applicable Serviced Companion Loan Noteholders directing the Special Servicer
not to take such action. Notwithstanding the foregoing, if the Special Servicer reasonably determines that it is likely that within
such 30-day period irreparable environmental harm to such Mortgaged Property would result from the presence of such Hazardous Materials
and provides a prior written statement to the Trustee and the Certificate Administrator setting forth the basis for such determination,
then the Special Servicer may take or cause to be taken such action to remedy such condition as may be consistent with the Servicing
Standard. None of the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer shall be obligated to
take any action or not take any action pursuant to this Section 3.10(h) at the direction of the Certificateholders or with respect
to any Serviced Loan Combination, at the direction of the Certificateholders and the related Serviced Companion Loan Noteholders
unless the Certificateholders and, with respect to any Serviced Companion Loan, the Serviced Companion Loan Noteholders agree to
indemnify the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer with respect to such action
or inaction. The Master Servicer shall advance the cost of any such compliance, containment, clean-up or remediation as a Property
Advance unless the Master Servicer determines, in its good faith judgment, that such Advance would constitute a Nonrecoverable
Advance.

 

(i)            The
Special Servicer shall notify the Master Servicer of any Mortgaged Property (other than a Mortgaged Property securing a Non-Serviced
Mortgage Loan) which is abandoned or foreclosed that requires reporting to the IRS and shall provide the Master Servicer with all
information regarding forgiveness of indebtedness and required to be reported with respect to any Mortgage Loan (other than a Non-Serviced
Mortgage Loan) or Serviced Loan Combination which is abandoned or foreclosed and the Master Servicer shall report to the IRS and
the related Borrower, in the manner required by applicable law, such information and the Master Servicer shall report, via Form
1099C or Form 1099A, all forgiveness of indebtedness to the extent such information has been provided to the Master Servicer by
the Special Servicer. The Master Servicer shall deliver a copy of any such report to the Trustee and the Certificate Administrator.

 

(j)            The
costs of any Updated Valuation obtained pursuant to this Section 3.10 shall be paid by the Master Servicer as a Property
Advance and shall be reimbursable from the Collection Account or, with respect to the Serviced Loan Combinations, first,
from the applicable Serviced Loan Combination Collection Account and second, to the extent amounts in the Serviced Loan
Combination Collection Accounts are insufficient therefor, from the Collection Account in accordance with Section 3.06(a); provided
that the Master Servicer shall, after receiving payment from amounts on deposit in the Collection Account, if any, (i) promptly
notify the related Companion Loan Noteholder and (ii) use commercially reasonable efforts to exercise on behalf of the Trust any
rights under the related Intercreditor Agreement to obtain reimbursement for a pro rata portion of such amount allocable
to the related Serviced Companion Loans from the related Companion Loan Noteholders.

 

Section 3.11           Custodian
to Cooperate; Release of Mortgage Files.     Upon the payment in full of any Mortgage Loan or Serviced Loan Combination, or the
receipt by the Master Servicer of a notification that payment in full has been escrowed in a manner customary

 

    	-198-

    	 

    

 

for such purposes,
the Master Servicer shall immediately notify the Custodian by a certification (which certification shall include a statement to
the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the
Collection Account or the applicable Serviced Loan Combination Collection Account, as applicable, pursuant to Section 3.05 of
this Agreement have been or will be so deposited) of a Servicing Officer and shall request delivery to it of the related Mortgage
File. Any expense incurred in connection with any instrument of satisfaction or deed of reconveyance that is not paid by the related
Borrower shall be chargeable to the Trust Fund. The Master Servicer agrees to use reasonable efforts in accordance with the Servicing
Standard to enforce any provision in the relevant Loan Documents that require the Borrower to pay such amounts. No expenses incurred
in connection with any instrument of satisfaction or deed of reconveyance shall be an expense of the Custodian.

 

From time to time upon
request of the Master Servicer or the Special Servicer and delivery to the Custodian of a Request for Release, the Custodian shall
promptly release the Mortgage File (or any portion thereof) designated in such Request for Release to the Master Servicer or the
Special Servicer, as applicable. Upon return of the foregoing to the Custodian, or in the event of a liquidation or conversion
of the Mortgage Loan or the Serviced Loan Combination into a Serviced REO Property, or in the event of a substitution of a Mortgage
Loan pursuant to Section 2.03 of this Agreement, or receipt by the Custodian of a certificate of a Servicing Officer stating that
such Mortgaged Property was liquidated and that all amounts received or to be received in connection with such liquidation which
are required to be deposited into the Collection Account or the applicable Serviced Loan Combination Collection Account, as applicable,
have been so deposited, or that such Mortgage Loan or Serviced Loan Combination has become a Serviced REO Property, or that the
Master Servicer has received a Qualifying Substitute Mortgage Loan and the applicable Substitution Shortfall Amount, the Custodian
shall deliver a copy of the Request for Release to the Master Servicer or the Special Servicer, as applicable. If from time to
time, pursuant to the terms of the applicable Intercreditor Agreement or Other Pooling and Servicing Agreement, and as appropriate
for enforcing the terms of the related Non-Serviced Mortgage Loan, the Other Servicer or the Other Special Servicer requests delivery
to it of the original Note by providing the Trustee and the Custodian a Request for Release, then the Custodian shall release or
cause the release of such original Note to the Other Servicer or the Other Special Servicer or its designee.

 

Within five (5) Business
Days (or, in case of an emergency, within such shorter period as is reasonable under the circumstances) after receipt of a written
certification of a Servicing Officer, the Trustee shall execute and deliver to the Master Servicer (with respect to Performing
Loans) and the Special Servicer (with respect to Specially Serviced Loans and REO Loans) any court pleadings, requests for a trustee’s
sale or other documents prepared by the Special Servicer, its agents or attorneys, necessary to the foreclosure or trustee’s
sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Borrower on the Note or
Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Note or Mortgage or otherwise
available at law or in equity. Each such certification shall include a request that such pleadings or documents be executed by
the Trustee and a statement as to the reason such documents or pleadings are required, that the proposed action is consistent
with the Servicing Standard and that the

 

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execution and delivery thereof by the Trustee will not invalidate or otherwise affect
the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale.

 

Section
3.12          Servicing Fees, Trustee/Certificate Administrator
Fees and Special Servicing Compensation.   (a)        As compensation for
its activities hereunder, the Master Servicer shall be entitled to the Servicing Fee with respect to each Mortgage Loan and
Serviced Companion Loan that it is servicing. The Master Servicer’s rights to the Servicing Fee may not be transferred
in whole or in part except in connection with the transfer of all of the Master Servicer’s responsibilities and
obligations under this Agreement or as provided in the second succeeding paragraph with respect to the Excess Servicing
Fee.

 

In addition, the Master
Servicer shall be entitled to receive, as additional Servicing Compensation, to the extent permitted by applicable law and the
related Loan Documents and any related Intercreditor Agreement, (i) all investment income earned on amounts on deposit in the Collection
Account (and with respect to each Serviced Loan Combination, the related Serviced Loan Combination Collection Account) and certain
Reserve Accounts (to the extent consistent with the related Loan Documents), (ii) any Net Default Interest and any other Penalty
Charges collected by the Master Servicer or the Special Servicer during a Collection Period accrued on any Performing Loan (and
the related Serviced Companion Loan, if applicable), in each case, remaining after application thereof during such Collection Period
to pay the Advance Interest Amount relating to such Performing Loan and to pay or reimburse the Trust for any unreimbursed Additional
Trust Fund Expenses (including Special Servicing Fees, Workout Fees and Liquidation Fees) relating to such Performing Loan incurred
during or prior to such Collection Period and, in the case of the Serviced Loan Combinations, to the extent allocated to the related
Mortgage Loan in the related Intercreditor Agreement, and as further described in Section 3.12(d), (iii) any amounts collected
for checks returned for insufficient funds (with respect to any Performing Loan or Specially Serviced Loan) and (iv) to the extent
permitted by applicable law and the related Loan Documents, 100% of any Modification Fees with respect to (and other similar fees
relating to) any Performing Loan or Serviced Companion Loan where the consent of the Special Servicer is not required (50% where
the consent of the Special Servicer is required hereunder), 100% of any defeasance fees (provided, that for the avoidance
of doubt, any such defeasance fee will not include any modification fees or waiver fees in connection with a defeasance that the
Special Servicer is entitled to under this Agreement), 100% of Assumption Fees and consent fees (or similar fees) relating to the
transactions referred to in Section 3.09 of this Agreement with respect to Performing Loans or the Serviced Companion Loans where
the consent of the Special Servicer is not required (50% where the consent of the Special Servicer is required), 100% of beneficiary
statement charges, demand fees or similar items (but not including Prepayment Premiums or Yield Maintenance Charges) with respect
to Performing Loans or the Serviced Companion Loans, 100% of assumption application fees with respect to Performing Loans or the
Serviced Companion Loan, in each case to the extent received and not required to be deposited or retained in the Collection Account
(or Serviced Loan Combination Collection Account), in each case pursuant to Section 3.05 of this Agreement, 50% of all fees paid
in connection with any Major Decision for a Performing Loan and 0% of any fee paid in connection with any Major Decision for a
Specially Serviced Loan. The Master Servicer shall also be entitled pursuant to, and to the extent provided in, Section 3.06(a)(viii)
or 3.07(b) of

 

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this Agreement, as applicable, to withdraw from the Collection Account and to receive from any Borrower Accounts
(to the extent not payable to the related Borrower under the Mortgage Loan or applicable law), Net Prepayment Interest Excess,
if any, that accrue on the Mortgage Loans that it is servicing and any interest or other income earned on deposits therein. Subject
to the provisions of the related Intercreditor Agreement, the Master Servicer shall be entitled to the portion of Net Default Interest
and any late payment fees or penalty charges collected by the Other Servicer servicing a Non-Serviced Mortgage Loan that are allocated
to such Non-Serviced Mortgage Loan remaining after application thereof to reimburse interest on related P&I Advances and to
reimburse the Trust for certain expenses of the Trust, if applicable, as provided in this Agreement. Except as specified in the
preceding sentence and except with respect to clause (i) in this paragraph, the Master Servicer will not be entitled to the compensation
set forth in clauses (iii) and (iv) in this paragraph with respect to a Non-Serviced Mortgage Loan. The Master Servicer shall not
be entitled to any portion of Excess Interest paid on any ARD Loan.

 

For the avoidance of
doubt, with respect to any fee split between the Master Servicer and the Special Servicer pursuant to the terms of this Agreement,
the Master Servicer and the Special Servicer shall each have the right, but not any obligation, to reduce or elect not to charge
its respective percentage interest in any such fee; provided, however (x) neither the Master Servicer nor the Special Servicer
shall have the right to reduce or elect not to charge the percentage interest of any fee due to the other and (y) to the extent
either of the Master Servicer or the Special Servicer exercises its right to reduce or elect not to charge its respective percentage
interest in any fee, the party that reduced or elected not to charge such fee shall not have any right to share in any portion
of the other party’s fee. For the avoidance of doubt, if the Master Servicer decides not to charge any fee, the Special Servicer
shall still be entitled to charge the portion of the related fee the Special Servicer would have been entitled to if the Master
Servicer had charged a fee and the Master Servicer shall not be entitled to any of such fee charged by the Special Servicer.

 

Wells Fargo Bank, National
Association and any successor holder of the Excess Servicing Fee Rights that relate to the Mortgage Loans (and any successor REO
Loans with respect to such Mortgage Loans) shall be entitled, at any time, at its own expense, to transfer, sell, pledge or otherwise
assign such Excess Servicing Fee Rights in whole (but not in part), in either case, to any Qualified Institutional Buyer or Institutional
Accredited Investor (other than a Plan); provided that no such transfer, sale, pledge or other assignment shall be made
unless (i) that transfer, sale, pledge or other assignment is exempt from the registration and/or qualification requirements of
the Act and any applicable state securities laws and is otherwise made in accordance with the Act and such state securities laws,
(ii) the prospective transferor shall have delivered to the Depositor a certificate substantially in the form attached as Exhibit
W-1 hereto, and (iii) the prospective transferee shall have delivered to the Master Servicer and the Depositor a certificate
substantially in the form attached as Exhibit W-2 hereto. None of the Depositor, the Trustee, the Certificate Administrator,
the Operating Advisor or the Certificate Registrar is obligated to register or qualify an Excess Servicing Fee Right under the
Act or any other securities law or to take any action not otherwise required under this Agreement to permit the transfer, sale,
pledge or assignment of an Excess Servicing Fee Right without registration or qualification. Wells Fargo Bank, National Association
and each holder of an Excess Servicing Fee Right desiring to effect a transfer, sale, pledge or other

 

    	-201-

    	 

    

 

assignment of such Excess
Servicing Fee Right shall, and Wells Fargo Bank, National Association hereby agrees, and each such holder of an Excess Servicing
Fee Right by its acceptance of such Excess Servicing Fee Right shall be deemed to have agreed, in connection with any transfer
of such Excess Servicing Fee Right effected by such Person, to indemnify the Certificateholders, the Trust, the Depositor, the
Underwriters, the Certificate Administrator, the Trustee, the Master Servicer, the Certificate Registrar, the Operating Advisor
and the Special Servicer against any liability that may result if such transfer is not exempt from registration and/or qualification
under the Act or other applicable federal and state securities laws or is not made in accordance with such federal and state laws
or in accordance with the foregoing provisions of this paragraph. By its acceptance of an Excess Servicing Fee Right, the holder
thereof shall be deemed to have agreed not to use or disclose such information in any manner that could result in a violation of
any provision of the Act or other applicable securities laws or that would require registration of such Excess Servicing Fee Right
or any Certificate pursuant to the Act. From time to time following any transfer, sale, pledge or assignment of an Excess Servicing
Fee Right, the Master Servicer with respect to the related Mortgage Loan or successor REO Loan with respect thereto to which the
Excess Servicing Fee Right relates, shall pay, out of each amount paid to the Master Servicer as Servicing Fee with respect to
such Mortgage Loan or REO Loan, as the case may be, the related Excess Servicing Fees to the holder of such Excess Servicing Fee
Right within one Business Day following the payment of such Servicing Fee to the Master Servicer, in each case in accordance with
payment instructions provided by such holder in writing to the Master Servicer. The holder of an Excess Servicing Fee Right shall
not have any rights under this Agreement except as set forth in the preceding sentences of this paragraph. None of the Certificate
Administrator, the Certificate Registrar, the Operating Advisor, the Depositor, the Special Servicer or the Trustee shall have
any obligation whatsoever regarding payment of the Excess Servicing Fee or the assignment or transfer of the Excess Servicing Fee
Right.

 

As compensation for its
activities hereunder on each Distribution Date, the Certificate Administrator shall be entitled with respect to each Mortgage Loan
to its portion of the Trustee/Certificate Administrator Fee, which shall be payable from amounts on deposit in the Lower Tier Distribution
Account. The Certificate Administrator shall pay the Trustee the Trustee’s portion of the Trustee/Certificate Administrator
Fee. The Certificate Administrator’s rights to the Trustee/Certificate Administrator Fee may not be transferred in whole
or in part except in connection with the transfer of all of its responsibilities and obligations under this Agreement.

 

Except as otherwise provided
herein, the Master Servicer shall pay all of its overhead expenses incurred by it in connection with its servicing activities hereunder,
including all fees of any sub-servicers retained by it (but excluding Mortgage Loan Seller Sub-Servicers). Except as otherwise
provided herein, the Trustee and the Certificate Administrator shall each pay all expenses incurred by it in connection with its
activities hereunder.

 

(b)           As
compensation for its activities hereunder, the Special Servicer shall be entitled with respect to each Specially Serviced Loan
and Serviced REO Loan to the Special Servicing Compensation, which shall be payable from amounts on deposit in the Collection Account
or the Serviced Loan Combination Collection Account, as applicable, as set forth in Section 3.06 of this Agreement. The Special
Servicer’s rights to the Special Servicing Fee may

 

    	-202-

    	 

    

 

not be transferred in whole or in part except in connection with the transfer
of all of the Special Servicer’s responsibilities and obligations under this Agreement. In addition, the Special Servicer
shall be entitled to receive, as Special Servicing Compensation, to the extent permitted by applicable law and the related Loan
Documents, (i) any Net Default Interest and any other Penalty Charges collected by the Master Servicer or the Special Servicer
during a Collection Period accrued on any Specially Serviced Loan remaining after application thereof during such Collection Period
(and in the case of the Serviced Loan Combinations, as set forth in and subject to the terms of the related Intercreditor Agreement
and Section 3.12(d) herein) to pay the Advance Interest Amount relating to such Specially Serviced Loan and any unreimbursed Additional
Trust Fund Expenses (including Special Servicing Fees, Workout Fees and Liquidation Fees) incurred during or prior to such Collection
Period on such related Specially Serviced Loan (but not NSF check fees and the like, which shall be paid to the Master Servicer)
as further described below in this subsection (b), (ii) 50% of any Assumption Fees, consent fees (or similar fees) relating to
the transactions referred to in Section 3.09 of this Agreement and Modification Fees (and other similar fees) with respect to the
Performing Loans and the related Companion Loans relating to any Performing Loan, when the approval of the Special Servicer is
required and excluding any Prepayment Premiums or Yield Maintenance Charges, (iii) any interest or other income earned on deposits
in the REO Accounts, (iv) 100% of any Assumption Fees, assumption application fees, consent fees (or similar fees) relating to
the transactions referred to in Section 3.09 of this Agreement, Modification Fees (and other similar fees), beneficiary statement
charges, demand fees or similar items relating solely to any Specially Serviced Loan or Serviced REO Loan, and (v) 50% of all fees
paid in connection with any Major Decision on a Performing Loan and 100% of any fee paid in connection with any Major Decision
for a Specially Serviced Loan.

 

For the avoidance of
doubt, with respect to any fee split between the Master Servicer and the Special Servicer pursuant to the terms of this Agreement,
the Master Servicer and the Special Servicer shall each have the right, but not any obligation, to reduce or elect not to charge
its respective percentage interest in any such fee; provided, however (x) neither the Master Servicer nor the Special Servicer
shall have the right to reduce or elect not to charge the percentage interest of any fee due to the other and (y) to the extent
either of the Master Servicer or the Special Servicer exercises its right to reduce or elect not to charge its respective percentage
interest in any fee, the party that reduced or elected not to charge such fee shall not have any right to share in any portion
of the other party’s fee. For the avoidance of doubt, if the Master Servicer decides not to charge any fee, the Special Servicer
shall still be entitled to charge the portion of the related fee the Special Servicer would have been entitled to if the Master
Servicer had charged a fee and the Master Servicer shall not be entitled to any of such fee charged by the Special Servicer.

 

Except as otherwise provided
herein, the Special Servicer shall pay all expenses incurred by it in connection with its servicing activities hereunder, including
all fees of any sub-servicers retained by it.

 

Subject to the provisions
of the related Intercreditor Agreement, the Special Servicer shall be entitled to the portion of Net Default Interest and any other
Penalty Charges collected by the Other Special Servicer servicing the related Non-Serviced Mortgage Loan and that are allocated
to such Non-Serviced Mortgage Loan remaining after application thereof

 

    	-203-

    	 

    

 

during such Collection Period to pay the Advance Interest
Amount relating to such Non-Serviced Mortgage Loan and any unreimbursed Additional Trust Fund Expenses (including Special Servicing
Fees, Workout Fees and Liquidation Fees) incurred during or prior to such Collection Period on such related Non-Serviced Mortgage
Loan (but not NSF check fees and similar fees, which shall be paid to the Master Servicer) as provided in this Agreement. Except
as specified in the preceding sentence, the Special Servicer will not be entitled to (i) the compensation set forth in this Section
3.12(b) with respect to a Non-Serviced Mortgage Loan or (ii) retain any portion of the Excess Interest paid on any ARD Loan.

 

(c)           In
addition, a Workout Fee will be payable to the Special Servicer with respect to each Mortgage Loan (other than any Non-Serviced
Mortgage Loan) or Serviced Loan Combination that ceases to be a Specially Serviced Loan pursuant to the definition thereof. As
to each such Mortgage Loan or Serviced Loan Combination, the Workout Fee will be payable out of each collection of interest and
principal (including scheduled payments, prepayments, Balloon Payments and payments at maturity, but excluding late payment charges,
Default Interest and Excess Interest) received on such Mortgage Loan or Serviced Loan Combination for so long as it remains a Corrected
Mortgage Loan. The Workout Fee with respect to any such Mortgage Loan or Serviced Loan Combination will cease to be payable if
such loan again becomes a Specially Serviced Loan or if the related Mortgaged Property becomes a Serviced REO Property; provided
that a new Workout Fee will become payable if and when such Mortgage Loan or Serviced Loan Combination again ceases to be a Specially
Serviced Loan. If the Special Servicer is terminated (other than for cause) or resigns with respect to any or all of its servicing
duties, it shall retain the right to receive any and all Workout Fees payable with respect to the Mortgage Loans or Serviced Loan
Combinations that cease to be a Specially Serviced Loan during the period that it had responsibility for servicing such Specially
Serviced Loan (or for any Specially Serviced Loan that had not yet become a Corrected Mortgage Loan because as of the time that
the Special Servicer is terminated the Borrower has not made three consecutive monthly debt service payments and subsequently the
Specially Serviced Loan becomes a Corrected Mortgage Loan) at the time of such termination or resignation (and the successor Special
Servicer shall not be entitled to any portion of such Workout Fees), in each case until the Workout Fee for any such loan ceases
to be payable in accordance with the preceding sentence.

 

A Liquidation Fee will
be payable to the Special Servicer, except as described below, with respect to (i) each Mortgage Loan repurchased by a Mortgage
Loan Seller after the Initial Resolution Period (and giving effect to any Resolution Extension Period) in accordance with Section
2.03(e) of this Agreement, (ii) each Specially Serviced Loan as to which the Special Servicer obtains a full, partial or discounted
payoff from the related Borrower, (iii) any Specially Serviced Loan or Serviced REO Property as to which the Special Servicer recovered
any Liquidation Proceeds and (iv) each Defaulted Mortgage Loan that is a Non-Serviced Mortgage Loan sold by the Special Servicer
in accordance with the second proviso in Section 3.16(b) of this Agreement as to which the Special Servicer recovered any Liquidation
Proceeds; provided, however, for clarification, in the case of clause (iv), should the Non-Serviced Mortgage Loan be sold by the
Other Special Servicer, then the Liquidation Fee shall be paid to such Other Special Servicer. As to each such Mortgage Loan repurchased
by a Mortgage Loan Seller after the Initial Resolution Period (and giving effect to any Resolution Extension Period) in accordance
with Section 2.03(e) of this Agreement or Specially Serviced

 

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Loan and Serviced REO Property, the Liquidation Fee will be payable
from the related payment or proceeds. Notwithstanding anything to the contrary described above, no Liquidation Fee will be payable
based on, or out of, Liquidation Proceeds to the extent set forth in the definition of “Liquidation Fee” herein. With
respect to any future mezzanine debt, to the extent not prohibited by the Loan Documents, the Master Servicer or Special Servicer,
as applicable, shall require that the related mezzanine intercreditor agreement provide that if a Mortgage Loan is purchased by
the related mezzanine lender on a date that is more than 90 days following the date that the related option first becomes exercisable,
such mezzanine lender shall be required to pay a Liquidation Fee equal to the amount that the Special Servicer would otherwise
be entitled to under this Agreement with respect to a liquidation of such Mortgage Loan (provided, that such Liquidation
Fee shall in all circumstances be payable by the related mezzanine lender and shall not, under any circumstances, be payable out
of the Trust unless the Master Servicer fails to require the related mezzanine intercreditor agreement to require the mezzanine
lender to pay such amounts in breach of its obligation to do so under this paragraph). If Liquidation Proceeds are received with
respect to any Specially Serviced Loan as to which the Special Servicer is properly entitled to a Workout Fee, such Workout Fee
will be payable based on and out of the portion of such Liquidation Proceeds that constitute principal and/or interest. Notwithstanding
anything herein to the contrary, the Special Servicer shall only be entitled to receive a Liquidation Fee or a Workout Fee, but
not both, with respect to Liquidation Proceeds received on any Mortgage Loan or any Specially Serviced Loan. If (i) the Special
Servicer resigns or has been terminated, and (ii) either prior or subsequent to such resignation or termination, either (A) a Specially
Serviced Loan was liquidated or modified pursuant to an action plan submitted by the initial Special Servicer and approved (or
deemed approved) by the Directing Holder or the Special Servicer has determined to grant a forbearance, or (B) a Specially Serviced
Loan being monitored by the Special Servicer subsequently became a Corrected Mortgage Loan, then in either such event the Special
Servicer shall be paid the related Workout Fee or Liquidation Fee, as applicable.

 

The total amount of Workout
Fees and Liquidation Fees that are payable by the Trust with respect to each Mortgage Loan, Serviced Loan Combination or Serviced
REO Loan through the period such Mortgage Loan is an asset of the Trust shall be subject to an aggregate cap of $1,000,000. For
the purposes of determining whether any such cap has been reached with respect to a Special Servicer and a Mortgage Loan, Serviced
Loan Combination or Serviced REO Loan, only the Workout Fees and Liquidation Fees paid to such Special Servicer with respect to
such Mortgage Loan, Serviced Loan Combination or Serviced REO Loan shall be taken into account, and any Workout Fees or Liquidation
Fees for any other Mortgage Loans, Serviced Loan Combinations or Serviced REO Loans shall not be taken into account (and any Workout
Fees or Liquidation Fees paid to a predecessor or successor special servicer or Other Special Servicer shall also not be taken
into account).

 

The Special Servicer
shall be required to pay out of its own funds all expenses incurred by it in connection with its servicing activities hereunder
(including, without limitation, any amounts, other than management fees in respect of REO Properties, due and owing to any of its
sub-servicers, any amounts due and owing to any of its Affiliates, and the premiums for any blanket Insurance Policy obtained by
it insuring against hazard losses pursuant to Section 3.08 of this Agreement, except to the extent such premiums are reimbursable
pursuant to Section 3.08 of this Agreement), if and to the extent such expenses are not expressly

 

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payable directly out of the Collection
Account or if a Serviced Loan Combination is involved, the applicable Serviced Loan Combination Collection Account or the applicable
REO Account or as a Property Advance, and the Special Servicer shall not be entitled to reimbursement therefor except as expressly
provided in this Agreement.

 

The Special Servicer
and its Affiliates shall be prohibited from receiving or retaining any compensation or any other remuneration (including, without
limitation, in the form of commissions, brokerage fees, rebates, or as a result of any other fee-sharing arrangement) from any
Person (including, without limitation, the Trust, any Borrower, any Manager, any guarantor or indemnitor in respect of a Mortgage
Loan or Serviced Loan Combination and any purchaser of any Mortgage Loan, Serviced Companion Loan or REO Property) in connection
with the disposition, workout or foreclosure of any Mortgage Loan or Serviced Loan Combination, the management or disposition of
any REO Property, or the performance of any other special servicing duties under this Agreement, other than as expressly provided
in this Agreement; provided that such prohibition shall not apply to Permitted Special Servicer/Affiliate Fees.

 

(d)           In
determining the compensation of the Master Servicer or Special Servicer, as applicable, with respect to Penalty Charges, on any
Distribution Date, the aggregate Penalty Charges collected on any Mortgage Loan or, unless prohibited by the related Intercreditor
Agreement to be so applied, any Serviced Companion Loan, during the related Collection Period shall be applied (as between Default
Interest and late payment charges, in the priority set forth in the definition of “Advance Interest Amount”)
to reimburse (i) the Master Servicer or the Trustee for interest on Advances at the Advance Rate with respect to such Mortgage
Loan or Serviced Loan Combination that accrued in the period that such Penalty Charges were collected and advance interest to any
related Serviced Companion Loan Service Provider for any debt service advance made by such party with respect to any related Serviced
Companion Loan that accrued in the period that such Penalty Charges were collected, (ii) the Trust Fund for all interest on Advances
with respect to such Mortgage Loan or Serviced Loan Combination previously paid to the Master Servicer, the Trustee or to any Serviced
Companion Loan Service Provider pursuant to Section 3.06(a)(vi) or Section 3.06(b)(vi) of this Agreement, and (iii) the Trust Fund
for any Additional Trust Fund Expenses (including Special Servicing Fees, Workout Fees and Liquidation Fees) with respect to such
Mortgage Loan or Serviced Loan Combination paid in the Collection Period that such Penalty Charges were collected and not previously
paid out of Penalty Charges, and any Penalty Charges remaining thereafter shall be distributed pro rata to the Master Servicer
and the Special Servicer based upon the amount of Penalty Charges the Master Servicer or the Special Servicer would otherwise have
been entitled to receive during such period with respect to such Mortgage Loan without any such application. Except as set forth
in this Agreement, the Special Servicer shall not be entitled to any Special Servicing Fees, Workout Fees or Liquidation Fees with
respect to any Non-Serviced Mortgage Loan or any related REO Property. For the avoidance of doubt, the portion of Penalty Charges
allocated to a Mortgage Loan that is part of a Non-Serviced Loan Combination (in accordance with the applicable Intercreditor Agreement
and, if applicable, the Other Pooling and Servicing Agreement) shall be allocated in accordance with clauses (i), (ii) and (iii)
above (except that, Advances in clauses (i) and (ii) shall mean P&I Advances).

 

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(e)           The
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall be entitled to reimbursement from the
Trust Fund (and, prior to recovery from the Trust Fund, in the case of any Serviced Loan Combinations, subject to the related Intercreditor
Agreement, first, from the related Subordinate Companion Loan up to the full principal balance thereof, if any, and second,
to the extent any such costs and expenses remain unreimbursed, from the related Mortgage Loan and the Collection Account, or in
the case of a Serviced Loan Combination with a Serviced Pari Passu Companion Loan, first, out of the related Serviced Loan
Combination Collection Account from collections on the related Serviced Pari Passu Companion Loan and the related Mortgage Loan
on a pro rata basis by principal balance, and second, to the extent any such costs and expenses remain unreimbursed,
out of the Collection Account) for the costs and expenses incurred by them in the performance of their duties under this Agreement
which are “unanticipated expenses incurred by the REMIC” within the meaning of Treasury Regulations Section 1.860G-1(b)(3)(iii).
Such expenses shall include, by way of example and not by way of limitation, environmental assessments, Updated Appraisals and
appraisals in connection with foreclosure, the fees and expenses of any administrative or judicial proceeding and expenses expressly
identified as reimbursable in Section 3.06(a)(xv) of this Agreement. All such costs and expenses shall be treated as costs and
expenses of the Lower-Tier REMIC and the related Serviced Loan Combination, if applicable.

 

(f)            No
provision of this Agreement or of the Certificates shall require the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator or the Trustee to expend or risk their own funds or otherwise incur any financial liability in the
performance of any of their duties hereunder or thereunder, or in the exercise of any of their rights or powers, if, in the good
faith business judgment of the Master Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator or the
Trustee, as the case may be, repayment of such funds would not be ultimately recoverable from late payments, Net Insurance Proceeds,
Net Liquidation Proceeds and other collections on or in respect of the Mortgage Loans, or from adequate indemnity from other assets
comprising the Trust Fund against such risk or liability.

 

If the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor or the Trustee receives a request or
inquiry from a Borrower, any Certificateholder or any other Person the response to which would, in the Master
Servicer’s, the Special Servicer’s, the Certificate Administrator’s, the Operating Advisor’s or the
Trustee’s good faith business judgment require the assistance of Independent legal counsel or other consultant to the
Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor or the Trustee, the cost of which
would not be an expense of the Trust Fund or any Serviced Companion Loan Noteholder hereunder, then the Master Servicer, the
Special Servicer, the Certificate Administrator, the Operating Advisor or the Trustee, as the case may be, shall not be
required to take any action in response to such request or inquiry unless such Borrower, such Certificateholder, or such
other Person, as applicable, makes arrangements for the payment of the Master Servicer’s, the Special Servicer’s,
the Certificate Administrator’s, the Operating Advisor’s or the Trustee’s expenses associated with such
counsel (including, without limitation, posting an advance payment for such expenses) satisfactory to the Master Servicer,
the Special Servicer, the Certificate Administrator, the

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Operating Advisor or the Trustee, as the case may be,
in its sole discretion. Unless such arrangements have been made, the Master Servicer, the Special Servicer, the Certificate Administrator,
the Operating Advisor or the Trustee, as the case may be, shall have no liability to any Person for the failure to respond to such
request or inquiry.

 

Section 3.13          Reports
to the Certificate Administrator; Collection Account Statements.   (a)       The Master Servicer shall deliver to the Certificate Administrator
no later than 3:00 p.m. (New York City time) one Business Day prior to the Servicer Remittance Date prior to each Distribution
Date (beginning December 2015), the CREFC® Loan Periodic Update File with respect to all of the Mortgage Loans
that it is servicing for the related Distribution Date (which shall include, without limitation, the amount of Available Funds
allocable to all of the Mortgage Loans including information therein that states the anticipated P&I Advances for the related
Distribution Date). The Master Servicer’s responsibilities under this Section 3.13(a) with respect to Serviced REO Loans
shall be subject to the satisfaction of the Special Servicer’s obligations under Section 3.23 of this Agreement. The Master
Servicer shall (no later than the time(s) that it or any portion thereof is made available to the Certificate Administrator) make
available to each Serviced Companion Loan Noteholder with respect to the related Loan Combination or, if such Serviced Companion
Loan is securitized, the respective Other Servicer or its designee, the CREFC® Investor Reporting Package®
(excluding any templates) pursuant to the terms of this Agreement on a monthly basis. The Special Servicer shall provide
any templates relating to the Serviced Companion Loan included in the CREFC® Investor Reporting Package®
and prepared by the Special Servicer pursuant to the terms hereof to the Master Servicer promptly upon reasonable request.
The Master Servicer shall provide any templates relating to the Serviced Companion Loan included in the CREFC®
Investor Reporting Package® (with respect to templates required to be prepared by the Special Servicer pursuant
to the terms hereof, to the extent received) to the Other Servicer upon reasonable request.

 

(b)           For
so long as the Master Servicer makes deposits into or credits to and withdrawals or debits from the Collection Account or any Serviced
Loan Combination Collection Account, not later than 15 days after each Distribution Date, the Master Servicer shall forward to
the Certificate Administrator a statement prepared by the Master Servicer setting forth the status of each of the Collection Account
and each Serviced Loan Combination Collection Account as of the close of business on the last Business Day of the prior Collection
Period and showing the aggregate amount of deposits into and withdrawals from the Collection Account and each Serviced Loan Combination
Collection Account of each category of deposit (or credit) specified in Section 3.05 of this Agreement and each category of withdrawal
(or debit) specified in Section 3.06 of this Agreement for the related Collection Period, in each case for the Mortgage Loans (including
the Non-Serviced Mortgage Loans). The Trustee and the Certificate Administrator and its agents and attorneys may at any time during
normal business hours, upon reasonable notice, inspect and copy the books, records and accounts of the Master Servicer solely relating
to the Mortgage Loans and the performance of its duties hereunder.

 

(c)           Beginning
in December 2015, no later than 4:00 p.m. (New York City time) on each Servicer Remittance Date, the Master Servicer shall deliver
or cause to be delivered to the Certificate Administrator (who shall promptly post such reports to the

 

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Certificate Administrator’s
Website pursuant to Section 4.02(b)(iii)(B) of this Agreement), the Serviced Companion Loan Noteholders and the Operating Advisor
the following reports (in electronic form) with respect to the Mortgage Loans that it is servicing (and, if applicable, the related
REO Properties), providing the required information as of the immediately preceding Determination Date: (i) to the extent the Master
Servicer has received the most recent CREFC® Special Servicer Loan File from the Special Servicer at the time required,
the most recent CREFC® Delinquent Loan Status Report, CREFC® Historical Loan Modification and Corrected
Mortgage Loan Report, the CREFC® Loan Setup File (with respect to the first Distribution Date) and CREFC®
REO Status Report received from such Special Servicer, (ii) the most recent CREFC® Property File, CREFC®
Financial File, CREFC® Comparative Financial Status Report and the CREFC® Loan Level Reserve/LOC
Report (in each case incorporating the data required to be included in the CREFC® Special Servicer Loan File), (iii)
the CREFC® Servicer Watch List with information that is current as of such Determination Date and (iv) the CREFC®
Advance Recovery Report.

 

The information that
pertains to Specially Serviced Loans and REO Properties reflected in such reports shall be based solely upon the reports delivered
by the Special Servicer to the Master Servicer (other than information as to which the Master Servicer has the primary responsibility
to generate) no later than the Determination Date in the form required by Section 3.13(g) of this Agreement or shall be provided
by means of such reports so delivered by the Special Servicer to the Master Servicer in the form so required. In the absence of
manifest error, the Master Servicer shall be entitled to conclusively rely upon, without investigation or inquiry, the information
and reports delivered to it by the Special Servicer, and the Certificate Administrator shall be entitled to conclusively rely upon
the Master Servicer’s reports and the Special Servicer’s reports and any information provided by the Certificate Administrator
or the Trustee without any duty or obligation to recompute, verify or recalculate any of the amounts and other information stated
therein.

 

(d)           The
Master Servicer shall deliver or cause to be delivered to the Trustee, the Certificate Administrator, the Serviced Companion Loan
Noteholders, the Underwriters, the Initial Purchasers and the Operating Advisor the following materials, in each case to the extent
that such materials or the information on which they are based have been received by the Master Servicer with respect to each Mortgage
Loan (other than any Non-Serviced Mortgage Loan), Specially Serviced Loan and Serviced REO Loan:

 

(i)            Within
30 days after receipt of any quarterly operating statement, if any, commencing within 30 days of receipt of such quarterly operating
statement for the quarter ending March 31, 2016, with respect to each Mortgage Loan (other than any Non-Serviced Mortgage Loan),
Specially Serviced Loan and Serviced REO Loan (to the extent prepared by and received from the Special Servicer (in written format
or in electronic media) in the case of any Serviced REO Loan), a CREFC® Operating Statement Analysis Report for
the related Mortgaged Property or Serviced REO Property as of the end of the preceding calendar quarter, together with copies of
the related operating statements and rent rolls (but only to the extent the related Borrower is required by the Mortgage to deliver,
or otherwise agrees to provide such information and, with respect to operating statements and rent rolls for REO Properties, only
to the extent received by the Special Servicer); provided that, to the extent the annual

 

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CREFC® Operating Statement
Analysis Report is delivered as described under clause (b) below, then such delivery shall satisfy the requirement under this clause
(a) to deliver a quarterly CREFC® Operating Statement Analysis Report for the quarter ending June 30 of each year, commencing
in 2016. The Master Servicer (or the Special Servicer in the case of Specially Serviced Loans and Serviced REO Properties) shall
use commercially reasonable efforts to obtain said quarterly and other periodic operating statements and related rent rolls, which
efforts shall include a letter sent to the related Borrower (except with respect to any Non-Serviced Mortgage Loan) (followed up
with telephone calls), requesting such quarterly and other periodic operating statements and related rent rolls until they are
received to the extent such action is consistent with applicable law and the terms of the related Loan Documents; provided,
however, that any analysis or update shall not be required to the extent such analysis or update is not required to be provided
under the then current applicable CREFC® guidelines. With regard to Specially Serviced Loans, such CREFC® Operating Statement
Analysis Report will include the following statement: “This Mortgage Loan was transferred to the Special Servicer on [DATE].
Any questions relating to the operating results reporting on this statement should be directed to the Special Servicer while the
loan is a Specially Serviced Loan.”

 

(ii)           At
least annually, on or before June 30 of each year, beginning with June 30, 2016, with respect to each Mortgage Loan (other than
a Non-Serviced Mortgage Loan), Specially Serviced Loan and Serviced REO Loan (to the extent prepared by and received from the Special
Servicer (in written format or in electronic media) in the case of any Serviced REO Loan), a CREFC® Operating Statement
Analysis Report for the related Mortgaged Property or Serviced REO Property as of the end of the preceding calendar year (initially,
year-end 2015), together with copies of the related operating statements and related rent rolls (but only to the extent the related
Borrower is required by the Mortgage to deliver, or otherwise agrees to provide such information and, with respect to operating
statements and related rent rolls for REO Properties, only to the extent received by the Special Servicer) for the current trailing
12 months, if available, or year-to-date. The Master Servicer (or the Special Servicer in the case of Specially Serviced Loans
and Serviced REO Properties) shall use commercially reasonable efforts to obtain said annual and other periodic operating statements
and related rent rolls, which efforts shall include a letter sent to the related Borrower (except with respect to any Non-Serviced
Mortgage Loan) (followed up with telephone calls), requesting such annual and other periodic operating statements and related rent
rolls until they are received to the extent such action is consistent with applicable law and the terms of the related Loan Documents.
Upon receipt of such annual and other periodic operating statements (including year-to-date statements) and related rent rolls,
the Master Servicer shall promptly update the CREFC® Operating Statement Analysis Report (commencing with the quarter
ending March 31, 2016); provided, however, that any analysis or update with respect to the year-end of each year
or quarter shall not be required to the extent such analysis or update is not required to be provided under the then current applicable
CREFC® guidelines.

 

(iii)          Within
45 days after receipt by the Master Servicer (or within 60 days of receipt by the Special Servicer in the case of a Serviced REO
Property) of any annual

 

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year-end operating statements and related rent rolls with respect to any Mortgaged Property (except with
respect to any Non-Serviced Mortgage Loan) or Serviced REO Property (to the extent prepared by and received from the Special Servicer
in the case of any Serviced REO Property), commencing within 45 or 60 days, as applicable, of receipt of such statements for year-end
2015, a CREFC® NOI Adjustment Worksheet for such Mortgaged Property (with the annual year-end operating statements
attached thereto as an exhibit). The Master Servicer will use the “Normalized” column from the CREFC®
NOI Adjustment Worksheet to update the full year-end data on any CREFC® Operating Statement Analysis Report and
will use any operating statements received with respect to any Mortgaged Property (other than any Mortgaged Property which is a
Serviced REO Property or constitutes security for a Specially Serviced Loan or a Non-Serviced Mortgage Loan) to update the CREFC®
Operating Statement Analysis Report for such Mortgaged Property; provided, however, that any analysis or update with
respect to the year-end of each year or quarter shall not be required to the extent such analysis or update is not required to
be provided under the then current applicable CREFC® guidelines.

 

Except with respect to
a request received through the Rating Agency Q&A Forum and Document Request Tool, upon request for receipt of any such items
from any Rating Agency, the Master Servicer shall forward such items to the 17g-5 Information Provider (who shall promptly post
such items to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement).

 

The Master Servicer shall
maintain one CREFC® Operating Statement Analysis Report for each Mortgaged Property (and shall not be required to
maintain any such report for a Mortgaged Property securing a Non-Serviced Mortgage Loan) and Serviced REO Property (to the extent
prepared by and received from the Special Servicer in the case of any Serviced REO Property or any Mortgaged Property constituting
security for a Specially Serviced Loan) relating to a Mortgage Loan that it is servicing. The CREFC® Operating Statement
Analysis Report for each Mortgaged Property (other than any such Mortgaged Property that secures a Non-Serviced Mortgage Loan or
which is a Serviced REO Property or constitutes security for a Specially Serviced Loan) is to be updated with trailing 12-month
information, as available, or year-to-date information until 12-month trailing information (commencing with the quarter ending
March 31, 2016) is available by the Master Servicer and such updated report shall be delivered to the Trustee, the Certificate
Administrator, the Operating Advisor, the Directing Holder and any related Serviced Companion Loan Noteholder in the calendar month
following receipt by the Master Servicer of such updated trailing or year-to-date operating statements and related rent rolls for
such Mortgaged Property.

 

The Special Servicer
shall pursuant to Section 3.13(h) of this Agreement, deliver to the Master Servicer the information required of it pursuant to
this Section 3.13(d) with respect to Specially Serviced Loans and Serviced REO Loans.

 

(e)           In
connection with their servicing of the Mortgage Loans (other than any Non-Serviced Mortgage Loan) and Serviced REO Properties,
the Master Servicer and the Special Servicer, as applicable, shall provide to each other and to the Trustee and the Certificate
Administrator, written notice of any event that comes to their knowledge with

 

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respect to a Mortgage Loan or Serviced REO Property
that the Master Servicer or the Special Servicer, respectively, determines, in accordance with the Servicing Standard, would have
a material adverse effect on such Mortgage Loan or Serviced REO Property, which notice shall include an explanation as to the reason
for such material adverse effect.

 

(f)            The
Master Servicer or the Special Servicer, as applicable, shall make available to the Controlling Class Representative copies of
all rent rolls, operating statements and financial statements actually provided by each Borrower, including any monthly or quarterly
statements or rent rolls, within 15 Business Days of receipt.

 

(g)           No
later than 1:00 p.m. New York City time on the date that is at least two Business Days prior to each Servicer Remittance Date,
the Special Servicer shall deliver, or cause to be delivered, to the Master Servicer and, upon the request of any of the Trustee,
the Certificate Administrator, the Operating Advisor, the Depositor, the Controlling Class Representative or any Rating Agency,
to such requesting party, the CREFC® Special Servicer Loan File with respect to the Specially Serviced Loans (and,
if applicable, the related Serviced REO Properties), providing the required information as of the Determination Date (or, upon
the reasonable request of any Master Servicer, data files in a form acceptable to the Master Servicer), which CREFC®
Special Servicer Loan File shall include data, to enable the Master Servicer to produce the CREFC® Supplemental
Servicer Reports. Such reports or data shall be presented in writing and in an electronic format reasonably acceptable to the Master
Servicer.

 

(h)           The
Special Servicer shall deliver or cause to be delivered to the Master Servicer and, upon the request of any of the Trustee, the
Certificate Administrator, the Operating Advisor, the Depositor, the Controlling Class or any Rating Agency, to such requesting
party, without charge, the following materials for Specially Serviced Loans or Serviced REO Properties, as applicable, in each
case to the extent that such materials or the information on which they are based have been received by the Special Servicer:

 

(i)            At
least annually, on or before June 1 of each year, commencing with 2016, with respect to each Serviced REO Loan, a CREFC®
Operating Statement Analysis Report for the related Serviced REO Property as of the end of the preceding calendar year (initially
year-end December 31, 2015) together with copies of the operating statements and related rent rolls for the related Serviced REO
Property as of the end of the preceding calendar year (but only to the extent the related Borrower is required by the Mortgage
to deliver, or otherwise agrees to provide, such information and, with respect to operating statements and related rent rolls for
Serviced REO Properties, only to the extent requested by the Special Servicer) and for the current trailing 12 months, if available,
or year-to-date. The Special Servicer shall use its reasonable efforts to obtain said annual and other periodic operating statements
and related rent rolls with respect to each Mortgaged Property constituting security for a Specially Serviced Loan and each Serviced
REO Property.

 

(ii)           Within
45 days of receipt by the Special Servicer of any annual operating statements with respect to any Mortgaged Property relating to
a Serviced REO Property, a CREFC® NOI Adjustment Worksheet for such Serviced REO Property

 

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(with the annual operating
statements attached thereto as an exhibit); provided, that, with the consent of the Master Servicer, the Special Servicer
may instead provide data files in a form reasonably acceptable to the Master Servicer. The Special Servicer will use the “Normalized”
column from the CREFC® NOI Adjustment Worksheet to update the full year-end data on any CREFC® Operating
Statement Analysis Report and will use any operating statements received with respect to any Serviced REO Property to update the
CREFC® Operating Statement Analysis Report for such Serviced REO Property.

 

Except with respect to
a request received through the Rating Agency Q&A Forum and Document Request Tool, upon request for receipt of any such items
from any Rating Agency, the Special Servicer shall forward such items to the 17g-5 Information Provider (who shall promptly post
such items to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement).

 

The Special Servicer
shall maintain one CREFC® Operating Statement Analysis Report for each Serviced REO Property. The CREFC®
Operating Statement Analysis Report for each Serviced REO Property is to be updated by the Special Servicer and such updated report
delivered to the Master Servicer within 45 days after receipt by the Special Servicer of updated operating statements for each
such REO Property; provided, that, the Special Servicer may instead provide data files in an electronic form acceptable
to the Special Servicer. The Special Servicer shall provide each such report to the Master Servicer in the then applicable CREFC®
format.

 

(i)            If
the Master Servicer or the Special Servicer, as applicable, is required to deliver any statement, report or information under any
provision of this Agreement (including Section 3.14), the Master Servicer or the Special Servicer, as the case may be, may satisfy
such obligation by (x) delivering such statement, report or information in a commonly used electronic format or (y) making such
statement, report or information available on the Master Servicer’s Website, unless this Agreement expressly specifies a
particular method of delivery or such statement, report or information must be filed with the Commission as contemplated in Article
X; provided that all reports required to be delivered to the Certificate Administrator shall be delivered in accordance
with clause (x).

 

(j)            The
Master Servicer may, but is not required to, make any of the reports or files it delivers pursuant to this Section 3.13 available
each month on the Master Servicer’s Website only with the use of a password, in which case the Master Servicer shall provide
such password to (i) the other parties to this Agreement, who by their acceptance of such password shall be deemed to have agreed
not to disclose such password to any other Person and (ii) each Certificateholder and prospective Certificateholder who requests
such password, and has delivered an Investor Certification to the Trustee, the Certificate Administrator and the Master Servicer.
In connection with providing access to the Master Servicer’s Website, the Master Servicer may require registration and the
acceptance of a disclaimer and otherwise (subject to the preceding sentence) adopt reasonable rules and procedures, which may include,
to the extent the Master Servicer deems necessary or appropriate, conditioning access on execution of an agreement governing the
availability, use and disclosure of such information,

 

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and which may provide indemnification to the Master Servicer for any liability
or damage that may arise therefrom.

 

(k)           With
respect to each Collection Period, the Special Servicer shall deliver or cause to be delivered to the Master Servicer within two
Business Days following the Determination Date and the Master Servicer shall, to the extent it has received, deliver to the Certificate
Administrator, without charge and on the same day as the Master Servicer is required to deliver the CREFC® Investor
Reporting Package, an electronic report which may include html, word or excel compatible format, clean and searchable pdf format
or such other format as mutually agreeable between the Certificate Administrator and the Special Servicer (or Master Servicer on
its behalf) that discloses and contains an itemized listing of any Disclosable Special Servicer Fees received by the Special Servicer
or any of its Affiliates during the related Collection Period; provided that no report regarding Disclosable Special Servicer Fees
shall be required to be delivered if there are no Disclosable Special Servicer Fees for the related Collection Period.

 

Section 3.14          Access
to Certain Documentation.   (a)        The Master Servicer and Special Servicer, as applicable, shall provide to any Certificateholders
and any Serviced Companion Loan Noteholders that are federally insured financial institutions, the Operating Advisor (but only
if a Control Termination Event has occurred and is continuing), the Directing Holder (but only if no Consultation Termination
Event has occurred and is continuing), the Federal Reserve Board, the FDIC and the Office of the Comptroller of Currency and the
supervisory agents and examiners of such boards and such corporations, and any other federal or state banking or insurance regulatory
authority that may exercise authority over any Certificateholder or Serviced Companion Loan Noteholder is subject, access to the
documentation regarding the Mortgage Loans or the Loan Combinations, as applicable, that it is servicing required by applicable
regulations of the Federal Reserve Board, FDIC, the Office of the Comptroller of Currency or any such federal or state banking
or regulatory authority, such access being afforded without charge but only upon reasonable written request and during normal
business hours at the offices of the Master Servicer or Special Servicer, as applicable. In addition, upon reasonable prior written
notice to the Master Servicer or the Special Servicer, as the case may be, the Trustee, the Certificate Administrator, the Operating
Advisor (but only if a Control Termination Event has occurred and is continuing), the Depositor or their accountants or other
representatives shall have reasonable access to review the documents, correspondence and records in the possession of the Master
Servicer or the Special Servicer, as the case may be, as they relate to a Mortgaged Property and any Serviced REO Property during
normal business hours at the offices of the Master Servicer or the Special Servicer, as the case may be. Nothing in this Section
3.14 shall detract from the obligation of the Master Servicer and Special Servicer to observe any applicable law prohibiting disclosure
of information with respect to the Borrowers, and the failure of the Master Servicer and Special Servicer to provide access as
provided in this Section 3.14 as a result of such obligation shall not constitute a breach of this Section 3.14.

 

(b)           In
connection with providing or granting any information or access pursuant to the prior paragraph to a Certificateholder, Serviced
Companion Loan Noteholder or any regulatory authority that may exercise authority over a Certificateholder or Serviced Companion
Loan Noteholder, the Master Servicer and the Special Servicer may each require

 

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payment from such Certificateholder or Serviced
Companion Loan Noteholder (to the extent permitted in the related Intercreditor Agreement) of a sum sufficient to cover the reasonable
costs and expenses of providing such information or access, including copy charges and reasonable fees for employee time and for
space; provided that no charge may be made if such information or access was required to be given or made available under
applicable law. In connection with providing Certificateholders or Serviced Companion Loan Noteholders access to the information
described in the preceding paragraph the Master Servicer and the Special Servicer, as applicable, may require (prior to affording
such access) a written confirmation executed by the requesting Person substantially in such form as may be reasonably acceptable
to the Master Servicer or the Special Servicer, as the case may be, generally to the effect that such Person is a Holder of Certificates
or a beneficial holder of Book-Entry Certificates or Serviced Companion Loan Noteholder or a regulator or governmental body and
will keep such information confidential.

 

(c)           Upon
the reasonable request of (1) any Certificateholder identified to the Master Servicer to the Master Servicer’s reasonable
satisfaction (or, with respect to any Serviced Companion Loan, the request of any Serviced Companion Loan Noteholder), the Master
Servicer may provide (or forward electronically) (at the expense of such Certificateholder or Serviced Companion Loan Noteholder)
copies of any appraisals, operating statements, rent rolls and financial statements obtained by the Master Servicer or (2) any
Controlling Class Certificateholder identified to the Master Servicer to the Master Servicer’s reasonable satisfaction, the
Master Servicer shall provide (or forward electronically) (at the expense of such Controlling Class Certificateholder) any Excluded
Information in the Master Servicer’s possession (available on the Certificate Administrator’s Website but not accessible
to such Controlling Class Certificateholder through the Certificate Administrator’s Website on account of it constituting
Excluded Information) relating to any Excluded Controlling Class Mortgage Loan in which such Controlling Class Certificateholder
is not an Excluded Controlling Class Holder; provided that, in connection therewith, the Master Servicer may require a written
confirmation executed by the requesting Person substantially in such form as may be reasonably acceptable to the Master Servicer,
generally to the effect that such Person is a Certificateholder or Serviced Companion Loan Noteholder or a beneficial holder of
Book-Entry Certificates or a regulator or a governmental body and will keep such information confidential.

 

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(d)          The 17g-5 Information
Provider shall make available solely to the Depositor and to any NRSRO that delivers an NRSRO Certification to the 17g-5 Information
Provider the following items to the extent such items are delivered to it via electronic mail at 17g5informationprovider@wellsfargo.com
(or such other address as the 17g-5 Information Provider shall specify by written notice to the other parties hereto) in an
electronic format readable and uploadable (that is not locked or corrupted) on the 17g-5 Information Provider’s system, specifically
with a subject reference of “COMM 2015-CCRE26” and an identification of the type of information being provided in the
body of such electronic mail; or via any alternative electronic mail address following notice to the parties hereto or any other
delivery method established or approved by the 17g-5 Information Provider if or as may be necessary or beneficial (provided,
if such information is not in electronic format readable and uploadable (that is not locked or corrupted), then the 17g-5 Information
Provider shall immediately notify the applicable delivering party thereof, whereupon such party shall promptly deliver the subject
information in such format):

(i)           any
waivers delivered to the 17g-5 Information Provider pursuant to Section 3.09 of this Agreement;

(ii)          any
Officer’s Certificate supporting any determination that any Advance was (or, if made, would be) a Nonrecoverable Advance
delivered to the 17g-5 Information Provider pursuant to Section 3.21(d) or Section 4.07(c) of this Agreement and notice of determination
not to refrain from reimbursement of all Nonrecoverable Advances;

(iii)         any
Asset Status Report delivered by the Special Servicer pursuant to Section 3.23(d) of this Agreement;

(iv)         any
environmental reports delivered by the Special Servicer pursuant to Section 3.10(g) of this Agreement;

(v)          any
annual statements as to compliance and related Officer’s Certificates delivered pursuant to Section 10.11 and Section 10.12
of this Agreement;

(vi)         any
annual independent public accountants’ attestation reports delivered pursuant to Section 10.13 of this Agreement;

(vii)        any
Appraisals delivered to the 17g-5 Information Provider pursuant to Section 3.10 of this Agreement;

(viii)       any
notice to the Rating Agencies relating to the Special Servicer’s determination to take action without receiving a No Downgrade
Confirmation from any Rating Agency as set forth in the definition of “No Downgrade Confirmation” pursuant to Section
3.30 of this Agreement;

(ix)          copies
of any questions or requests submitted by the Rating Agencies directed toward the Master Servicer, Special Servicer, Certificate
Administrator or Trustee;

 

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(x)          any
requests for a No Downgrade Confirmation that are delivered to the 17g-5 Information Provider pursuant to Section 3.30 of this
Agreement;

(xi)         any
notice of resignation of the Trustee or Certificate Administrator and any notice of the acceptance of appointment by the successor
Trustee or successor Certificate Administrator pursuant to Section 8.07 or Section 8.08 of this Agreement;

(xii)        any
notice of resignation or assignment of the rights of the Master Servicer or the Special Servicer pursuant to Section 6.04 of this
Agreement;

(xiii)       any
notice of Servicer Termination Event or termination of the Master Servicer or the Special Servicer delivered pursuant to Section
7.03 of this Agreement;

(xiv)       any
notice of the merger or consolidation of the Certificate Administrator or the Trustee pursuant to Section 8.09 of this Agreement;

(xv)        any
notice of the merger or consolidation of the Master Servicer, the Special Servicer or the Operating Advisor pursuant to Section
6.02 of this Agreement;

(xvi)       any
notice of any amendment that modifies the procedures herein relating to Exchange Act Rule 17g-5 pursuant to Section 11.08 of this
Agreement;

(xvii)      any
notice or other information provided by the Master Servicer pursuant to Section 11.07 of this Agreement;

(xviii)     any
summary of oral communication with the Rating Agencies delivered to the 17g-5 Information Provider pursuant to Section 3.14(g)
of this Agreement; provided that the summary of such oral communication shall not attribute which Rating Agency the communication
was with;

(xix)        the
Rating Agency Q&A Forum and Document Request Tool; and

(xx)         such
information as is delivered to the 17g-5 Information Provider by the Depositor in mutually agreeable electronic format within fifteen
(15) days of the Closing Date.

The foregoing information
shall be made available by the 17g-5 Information Provider on the 17g-5 Information Provider’s Website (a link to which shall
be provided on the Depositor’s website at www.intralinks.com or such other website as the Depositor may notify the
parties hereto in writing). Information will be posted on the same Business Day of receipt provided that such information is received
by 2:00 p.m. (eastern time) or, if received after 2:00 p.m., on the next Business Day by 12:00 p.m. New York City time. The 17g-5
Information Provider shall have no obligation or duty to verify, confirm or otherwise determine whether the information being delivered
is accurate, complete, conforms to the transaction, or otherwise is or is not anything other than what it purports to be or whether
such information (other than (solely with respect to the 17g-5 Information Provider’s obligation to post such information)
the information set forth in clauses (i) through (xix) above) is required to be

 

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posted on the 17g-5 Information Provider’s
Website pursuant to this Agreement or Rule 17g-5. If any information is delivered or posted in error, the 17g-5 Information Provider
may remove it from the 17g-5 Information Provider’s Website. The Certificate Administrator and the 17g-5 Information Provider
have not obtained and shall not be deemed to have obtained actual knowledge of any information only by receipt and posting to the
17g-5 Information Provider’s Website. Access will be provided by the 17g-5 Information Provider to the Rating Agencies, and
to the NRSROs upon receipt of an NRSRO Certification in the form of Exhibit V hereto (which certification may be submitted
electronically via the 17g-5 Information Provider’s Website). If a Rating Agency requests access to the 17g-5 Information
Provider’s Website, access will be provided by the 17g-5 Information Provider on the same Business Day provided such request
is made prior to 2:00 p.m., on such Business Day, or, if received after 2:00 p.m., on the following Business Day. Questions regarding
delivery of information to the 17g-5 Information Provider may be directed to 17g5informationprovider@wellsfargo.com (or
such other address as the 17g-5 Information Provider shall specify by written notice to the other parties hereto).

Upon request of the
Depositor or the Rating Agencies (through the Rating Agency Q&A Forum and Document Request Tool) or if otherwise required under
this Agreement, the 17g-5 Information Provider shall post on the 17g-5 Information Provider’s Website any additional information
requested by the Depositor (including any pre-closing material from the Depositor’s Rule 17g-5 website) or the Rating Agencies
or if otherwise required under this Agreement to the extent such information is delivered to the 17g-5 Information Provider electronically
in accordance with this Section 3.14 of this Agreement. In no event shall any party to this Agreement disclose on the 17g-5 Information
Provider’s Website which Rating Agency requested such additional information.

The 17g-5 Information
Provider shall notify any party that delivers information to the 17g-5 Information Provider under this Agreement that such information
was received and that it has been posted. The 17g-5 Information Provider shall notify each NRSRO that has provided a NRSRO Certification
each time a document is posted to the 17g-5 Information Provider’s Website and such notice shall specifically identify such
document. The 17g-5 Information Provider shall send such notice to such Persons to the email address that has been provided by
and is used by such Person for the purpose of accessing the 17g-5 Information Provider’s Website, including a general email
address if such general email address has been provided to the 17g-5 Information Provider in connection with a completed NRSRO
Certification in the form of Exhibit P-2 hereto.

Any information required
to be delivered to the 17g-5 Information Provider by any party under this Agreement shall be delivered to it via electronic mail
at 17g5informationprovider@wellsfargo.com, specifically with a subject reference of “COMM 2015-CCRE26” and an identification
of the type of information being provided in the body of such electronic mail, or via any alternative electronic mail address following
notice to the parties hereto or any other delivery method established or approved by the 17g-5 Information Provider.

The 17g-5 Information
Provider shall make available, only to NRSROs, the Rating Agency Q&A Forum and Document Request Tool. The “Rating Agency
Q&A Forum

 

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and Document Request Tool” shall be a service available on the 17g-5 Information Provider’s Website,
where Rating Agencies and NRSROs may (i) submit Inquiries to the Certificate Administrator relating to the Distribution Date Statement,
submit Inquiries to the Master Servicer or the Special Servicer, as applicable, relating to the reports being made available pursuant
to this Section 4.02(d), the Mortgage Loans (other than, in the case of the Special Servicer, a Non-Serviced Mortgage Loan) or
the Mortgaged Properties or submit inquiries to the Operating Advisor relating to the Operating Advisor Annual Reports or actions
by the Master Servicer or the Special Servicer as to which the Operating Advisor has consultation rights pursuant to Section 3.31,
whether or not referenced in such Operating Advisor Annual Report, (ii) view Inquiries that have been previously submitted and
answered, together with the answers thereto and (iii) submit requests for loan-level reports and information. Upon receipt of an
Inquiry for the Certificate Administrator, the Operating Advisor, the Master Servicer or the Special Servicer, the 17g-5 Information
Provider shall forward the Inquiry to the Certificate Administrator, Operating Advisor, the Master Servicer or the Special Servicer,
as applicable, and in the case of an inquiry relating to any Non-Serviced Mortgage Loan, to the applicable party under the related
Other Pooling and Servicing Agreement, in each case within a commercially reasonable period following receipt thereof. Following
receipt of an Inquiry or request relating to the subject matters described in clauses (i) or (iii) above, the Certificate Administrator,
the Operating Advisor, the Master Servicer or the Special Servicer, as applicable, unless it determines not to answer such Inquiry
as provided below, shall reply to the Inquiry, which reply of the Certificate Administrator, the Operating Advisor, Master Servicer
or Special Servicer shall be by email to the 17g-5 Information Provider. The 17g-5 Information Provider shall post (within a commercially
reasonable period following preparation or receipt of such answer, as the case may be) such Inquiry and the related answer (or
reports, as applicable) to the 17g-5 Information Provider’s Website. Any report posted by the 17g-5 Information Provider
in response to a request may be posted on a page accessible by a link on the 17g-5 Information Provider’s Website. If the
Certificate Administrator, the Operating Advisor, the Master Servicer or the Special Servicer determines, in its respective sole
discretion, that (i) the question is beyond the scope outlined above, (ii) answering any Inquiry would not be in the best interests
of the Trust and/or the Certificateholders or would be in violation of applicable law, the Servicing Standard, this Agreement or
the applicable Loan Documents, (iii) answering any Inquiry would or is reasonably expected to result in a waiver of an attorney-client
privilege or the disclosure of attorney work product or answering such inquiry is otherwise not advisable or (iv) (A) answering
any Inquiry would materially increase the duties of, or result in significant additional cost or expense to, the Certificate Administrator,
the Operating Advisor, the Master Servicer or the Special Servicer, as applicable, and (B) the Certificate Administrator, the Operating
Advisor, the Master Servicer or the Special Servicer, as applicable, determines in accordance with the Servicing Standard (or in
good faith, in the case of the Certificate Administrator or the Operating Advisor) that the performance of such duties or the payment
of such costs and expenses is beyond the scope of its duties in its capacity as Certificate Administrator, Operating Advisor, Master
Servicer or Special Servicer, as applicable, under this Agreement, it shall not be required to answer such Inquiry and, in the
case of the Certificate Administrator, the Operating Advisor, the Master Servicer or the Special Servicer, shall promptly notify
the 17g-5 Information Provider, and the 17g-5 Information Provider shall post such Inquiry on the Rating Agency Q&A Forum and
Document Request Tool together with a statement that such Inquiry was not answered. Answers posted on the Rating Agency Q&A
Forum and Document Request Tool will be

 

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attributable only to the respondent, and shall not be deemed to be answers from any of
the Depositor, the Underwriters, the Initial Purchasers, the Master Servicer, the Special Servicer, the Operating Advisor, the
Certificate Administrator or the Trustee or any of their respective Affiliates and no such party shall have any responsibility
or liability for the content of any such information. The 17g-5 Information Provider shall not be required to post to the 17g-5
Information Provider’s Website any Inquiry or answer thereto that the 17g-5 Information Provider determines, in its sole
discretion, is administrative or ministerial in nature. The Rating Agency Q&A Forum and Document Request Tool will not reflect
questions, answers and other communications between the 17g-5 Information Provider and any Person which are not submitted via the
17g-5 Information Provider’s Website.

In connection with
providing access to the Certificate Administrator’s Website and the 17g-5 Information Provider’s Website, the Certificate
Administrator and/or the 17g-5 Information Provider may require registration and the acceptance of a disclaimer. The Certificate
Administrator and the 17g-5 Information Provider, as the case may be, shall not be liable for the dissemination of information
in accordance with the terms of this Agreement, make no representations or warranties as to the accuracy or completeness of such
information being made available, and assume no responsibility for such information; provided that it is acknowledged and
agreed that the 17g-5 Information Provider shall not be charged with knowledge of any of the contents of such information solely
by virtue of its compliance with its obligations to post such information to the 17g-5 Information Provider’s Website. The
17g-5 Information Provider shall not be liable for its failure to make any information available to the NRSROs unless such information
was delivered to the 17g-5 Information Provider at the email address set forth herein in an electronic format readable and uploadable
(that is not locked or corrupted) on the 17g-5 Information Provider’s system, with a subject heading of “COMM 2015-CCRE26”
and sufficient detail to indicate that such information is required to be posted on the 17g-5 Information Provider’s Website;
provided, if such information is not in electronic format readable and uploadable (that is not locked or corrupted), then
the 17g-5 Information Provider shall immediately notify the applicable delivering party thereof, whereupon such party shall promptly
deliver the subject information in such format.

The 17g-5 Information
Provider shall not be responsible or have any liability for any act, omission or delay attributable to the failure of any other
party to this Agreement to timely deliver information to be posted on the 17g-5 Information Provider’s Website or for any
errors or defects in the information supplied by any such party.

The 17g-5 Information
Provider’s obligations in respect of Rule 17g-5 or any other law or regulation related thereto shall be limited to the specific
obligations contained in this Agreement and the 17g-5 Information Provider makes no representations or warranties as to the compliance
of the Depositor with Rule 17g-5 or any other law or regulation related thereto.

With respect to each
Non-Serviced Mortgage Loan, each of the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall
provide to the 17g-5 Information Provider for posting on the 17g-5 Information Provider’s Website, promptly upon receipt
from a Non-Serviced Mortgage Loan Service Provider, all reports, statements, documents, notices and other information it receives
in respect of such Non-Serviced Mortgage

 

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Loan that such party would otherwise have been required to be submitted to the 17g-5 Information
Provider under this Agreement for posting had such Non-Serviced Mortgage Loan been a Serviced Mortgage Loan. The 17g-5 Information
Provider shall post on the 17g-5 Information Provider’s Website all such information it receives in accordance with this
Agreement.

(e)          [Reserved].

(f)           Each of the
Master Servicer and the Special Servicer may, in accordance with such reasonable rules and procedures as it may adopt, also deliver,
produce or otherwise make available through its website or otherwise, any additional information identified in Section 3.14(d)
of this Agreement relating to the Mortgage Loans or Loan Combinations, the Mortgaged Properties or the related Borrowers, for review
by the Depositor, the Underwriters, the Initial Purchasers and any other Persons who deliver an Investor Certification in accordance
with this Section 3.14, the related Serviced Companion Loan Noteholder (if any) and the Rating Agencies (collectively, the “Disclosure
Parties”) (only to the extent such additional information is simultaneously or previously delivered to the 17g-5 Information
Provider in accordance with the provisions of Section 3.14(d) of this Agreement, who shall post such additional information on
the 17g-5 Information Provider’s Website in accordance with the provisions of Section 3.14(d) of this Agreement), in each
case, except to the extent doing so is prohibited by this Agreement, applicable law or by the related Loan Documents. Each of the
Master Servicer and the Special Servicer shall be entitled to (i) indicate the source of such information and affix thereto any
disclaimer it deems appropriate in its discretion and/or (ii) require that the recipient of such information (A) except for the
Depositor, enter into an Investor Certification or other confidentiality agreement acceptable to the Master Servicer or the Special
Servicer, as the case may be, and (B) acknowledge that the Master Servicer or the Special Servicer may contemporaneously provide
such information to any other Disclosure Party. In addition, to the extent access to such information is provided via the Master
Servicer’s or the Special Servicer’s website, the Master Servicer and the Special Servicer may require registration
and the acceptance of a reasonable and customary disclaimer and/or an additional or alternative agreement as to the confidential
nature of such information. In connection with providing access to or copies of the information described in this Section 3.14(e)
to current or prospective Certificateholders the form of confidentiality agreement used by the Master Servicer or the Special Servicer,
as applicable, shall be: (i) in the case of a Certificateholder (or a licensed or registered investment advisor acting on behalf
of such Certificateholder), an Investor Certification executed by the requesting Person indicating that such Person is a Holder
of Certificates and will keep such information confidential (except that such Certificateholder may provide such information (x)
to its auditors, legal counsel and regulators and (y) to any other Person that holds or is contemplating the purchase of any Certificate
or interest therein (provided that such other Person confirms in writing such ownership interest or prospective ownership
interest and agrees to keep such information confidential)); and (ii) in the case of a prospective purchaser of Certificates or
interests therein (or a licensed or registered investment advisor acting on behalf of such prospective purchaser), an Investor
Certification indicating that such Person is a prospective purchaser of a Certificate or an interest therein and is requesting
the information for use in evaluating a possible investment in Certificates and will otherwise keep such information confidential
with no further dissemination (except that such Certificateholder may 

 

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 provide such information to its auditors, legal counsel and
regulators), without the prior consent of the Depositor. In the case of a licensed or registered investment advisor acting on behalf
of a current or prospective Certificateholder, the Investor Certification shall be executed and delivered by both the investment
advisor and such current or prospective Certificateholder.

Neither the Master
Servicer nor the Special Servicer shall be liable for its dissemination of information in accordance with this Agreement or by
others in violation of the terms of this Agreement. Neither the Master Servicer nor the Special Servicer shall be responsible or
have any liability for the completeness or accuracy of the information delivered, produced or otherwise made available pursuant
to this Section 3.14 unless (i) the Master Servicer or Special Servicer, as applicable, is the original source for such information
and (ii) such failure to deliver complete and accurate information is by reason of such party’s willful misconduct, bad faith,
fraud and/or negligence.

In connection with
the delivery by the Master Servicer or the Special Servicer, as applicable, to the 17g-5 Information Provider of any information,
report, notice or document for posting to the 17g-5 Information Provider’s Website, the 17g-5 Information Provider shall
provide electronic confirmation to the Master Servicer or the Special Servicer, as applicable, of when such information, report,
notice or document has been posted to the 17g-5 Information Provider’s Website. The Master Servicer or the Special Servicer,
as applicable, may, but is not obligated to, send such information report, notice or other document directly to the applicable
Rating Agency or Rating Agencies following the earlier of (a) receipt of notification from the 17g-5 Information Provider that
such information, report, notice or other document has been posted to the Rule 17g-5 Information Provider’s Website and (b)
12:00 p.m. on the first Business Day following the date the Master Servicer or the Special Servicer, as applicable, has provided
such information, report, notice or other document to the 17g-5 Information Provider.

(g)          The Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee shall be permitted (but shall
not be required) to orally communicate with the Rating Agencies regarding any Mortgage Loan, Serviced Loan Combination, any Certificateholder,
any Serviced Companion Loan Noteholder, any Mortgaged Property or any REO Property; provided that such party summarizes
the information provided to the Rating Agencies in such communication and provides the 17g-5 Information Provider and the related
Other 17g-5 Information Provider (if any) with such summary in accordance with the procedures set forth in Section 3.14(d) of this
Agreement the same day such communication takes place; provided that the summary of such oral communications shall not attribute
which Rating Agency the communication was with. The 17g-5 Information Provider shall post such summary on the 17g-5 Information
Provider’s Website in accordance with the procedures set forth in Section 3.14(d) of this Agreement.

(h)          None of the
foregoing restrictions in this Section 3.14 or otherwise in this Agreement shall prohibit or restrict oral or written communications,
or providing information, between the Master Servicer, the Operating Advisor or the Special Servicer, on the one hand, and any
Rating Agency or NRSRO, on the other hand, with regard to (i) such Rating Agency’s or NRSRO’s review of the ratings
it assigns to the Master Servicer, the Operating Advisor or the Special Servicer, as applicable, (ii) such Rating Agency’s
or NRSRO’s approval of the Master Servicer, the Operating Advisor or the Special Servicer, as

 

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applicable, as a commercial
mortgage master, special or primary servicer or (iii) such Rating Agency’s or NRSRO’s evaluation of the Master Servicer’s,
the Operating Advisor or the Special Servicer’s, as applicable, servicing operations in general; provided, that the
Master Servicer, the Operating Advisor or the Special Servicer, as applicable, shall not provide any information relating to the
Certificates or the Mortgage Loans to any Rating Agency or NRSRO in connection with such review and evaluation by such Rating Agency
or NRSRO unless (x) Borrower, property and other deal specific identifiers are redacted; (y) such information has already been
provided to the 17g-5 Information Provider and has been uploaded on to the 17g-5 Information Provider’s Website or the Master
Servicer or Special Servicer, as applicable, has in fact provided such information to such Rating Agency in accordance with Section
3.14(f); or (z) the Rating Agency confirms in writing that it does not intend to use such information in undertaking credit rating
surveillance with respect to the Certificates; provided, however, that the Rating Agencies may use information delivered
in reliance on the certification provided in this clause (z) for any purpose to the extent it is publicly available (unless the
availability results from a breach of this Agreement or any other confidentiality agreement to which such Rating Agency is subject)
or comprises information collected by the applicable Rating Agency from the 17g-5 Information Provider’s Website (or another
17g-5 information provider’s website that such Rating Agency has access to) (in each case, subject to any agreement governing
the use of such information, including any engagement letter with the Depositor or any other applicable depositor).

(i)           If any of the
parties to this Agreement receives a Form ABS Due Diligence-15E from any party in connection with any third-party due diligence
services such party may have provided with respect to the Mortgage Loans (“Due Diligence Service Provider”),
such receiving party shall promptly forward such Form ABS Due Diligence-15E to the 17g-5 Information Provider for posting on the
17g-5 Information Provider’s Website. The 17g-5 Information Provider shall post on the 17g-5 Information Provider’s
Website any Form ABS Due Diligence-15E it receives directly from a Due Diligence Service Provider or from another party to this
Agreement, promptly upon receipt thereof.

(j)          The costs and
expenses of compliance with this Section 3.14 by the Depositor, the Master Servicer, the Special Servicer, the Trustee and any
other party hereto shall not be Additional Trust Fund Expenses.

Section 3.15          Title
and Management of REO Properties and REO Accounts.   
(a) If title to any Mortgaged Property (other than with respect to a Non-Serviced Mortgage Loan) is acquired for the benefit of
Certificateholders (and, in the case of the Serviced Loan Combinations, the related Serviced Companion Loan Noteholders) in foreclosure,
by deed in lieu of foreclosure or upon abandonment or reclamation from bankruptcy, the deed or certificate of sale shall be taken
in the name of the Trust where permitted by applicable law or regulation and consistent with customary servicing procedures, and
otherwise in the name of the Trustee, or its nominee (which shall not include the Master Servicer), or a separate Trustee or co-Trustee,
on behalf of the Trust Fund (and, in the case of the Serviced Loan Combinations, the related Serviced Companion Loan Noteholders).
The Special Servicer, on behalf of the Trust Fund (and, in the case of the Serviced Loan Combinations, the related Serviced Companion
Loan Noteholders), shall dispose of any Serviced REO Property prior to the close of the third calendar year following the year
in which the Trust Fund acquires

 

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ownership of such Serviced REO Property for purposes of Section 860G(a)(8) of the Code, unless
(i) the Special Servicer on behalf of the Lower-Tier REMIC has applied for an extension of such period pursuant to Sections 856(e)(3)
and 860G(a)(8)(A) of the Code, in which case the Special Servicer shall sell such Serviced REO Property within the applicable extension
period or if the Special Servicer has applied for extension as provided in this clause (i) but such request has not yet been granted
or denied, the additional time specified in such request, or (ii) the Special Servicer seeks and subsequently receives an Opinion
of Counsel (which opinion shall be an expense of the Trust Fund and, in the case of a Serviced Loan Combination, such expenses
shall be allocated in accordance with the allocation provisions set forth in the related Intercreditor Agreement), addressed to
the Special Servicer, the Certificate Administrator and the Trustee, to the effect that the holding by the Trust Fund of such Serviced
REO Property for an additional specified period will not cause such Serviced REO Property to fail to qualify as “foreclosure
property” within the meaning of Section 860G(a)(8) of the Code (determined without regard to the exception applicable for
purposes of Section 860D(a) of the Code) at any time that any Certificate is outstanding, in which event such period shall be extended
by such additional specified period subject to any conditions set forth in such Opinion of Counsel. The Special Servicer, on behalf
of the Trust Fund (and, in the case of the Serviced Loan Combinations, the related Serviced Companion Loan Noteholders), shall
dispose of any Serviced REO Property held by the Trust Fund prior to the last day of such period (taking into account extensions)
by which such Serviced REO Property is required to be disposed of pursuant to the provisions of the immediately preceding sentence
in a manner provided under Section 3.16 hereof. In the case of the Trust Fund’s beneficial interest in any REO Property acquired
by the Other Trustee pursuant to an Other Pooling and Servicing Agreement, the Special Servicer shall coordinate with the Other
Special Servicer with respect to any REO extension on behalf of the Trust Fund. The Special Servicer shall manage, conserve, protect
and operate each Serviced REO Property for the Certificateholders (and, in the case of the Serviced Loan Combinations, the related
Serviced Companion Loan Noteholders) solely for the purpose of its prompt disposition and sale in a manner which does not cause
such Serviced REO Property to fail to qualify as “foreclosure property” within the meaning of Section 860G(a)(8) of
the Code (determined without regard to the exception applicable for purposes of Section 860D(a) of the Code) and such that income
from the operation or sale of such property does not result in receipt by the Trust Fund of any income from non-permitted assets
as described in Section 860F(a)(2)(B) of the Code with respect to such property.

(b)          The Special
Servicer shall have full power and authority, subject only to the Servicing Standard and the specific requirements and prohibitions
of this Agreement, to do any and all things in connection with any Serviced REO Property as are consistent with the manner in which
the Special Servicer manages and operates similar property owned or managed by the Special Servicer or any of its Affiliates, all
on such terms and for such period as the Special Servicer deems to be in the best interests of Certificateholders and, in the case
of the Serviced Loan Combinations, the related Serviced Companion Loan Noteholders and, in connection therewith, the Special Servicer
shall agree to the payment of management fees that are consistent with general market standards. Consistent with the foregoing,
the Special Servicer shall cause or permit to be earned with respect to such Serviced REO Property any “net income from foreclosure
property,” within the meaning of Section 860G(c) of the Code, which is subject to tax under the REMIC Provisions, only if
it has determined, and has so

 

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advised the Trustee and the Certificate Administrator in writing, that the earning of such income
on a net after-tax basis could reasonably be expected to result in a greater recovery on behalf of Certificateholders (and, in
the case of the Serviced Loan Combinations, the related Serviced Companion Loan Noteholders) than an alternative method of operation
or rental of such Serviced REO Property that would not be subject to such a tax.

The Special Servicer
shall segregate and hold all revenues received by it with respect to any Serviced REO Property separate and apart from its own
funds and general assets and shall establish and maintain with respect to any Serviced REO Property a segregated custodial account
(each, an “REO Account”), each of which shall be an Eligible Account and shall be entitled “CWCapital
Asset Management LLC, as Special Servicer, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of
the Holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates REO Account.” With respect to
a Serviced REO Property securing a Serviced Loan Combination, the Special Servicer shall establish an REO Account solely with respect
to such property (each such account, a “Serviced Loan Combination REO Account”), each of which shall be an Eligible
Account and shall be entitled “CWCapital Asset Management LLC, as Special Servicer, on behalf of Wilmington Trust, National
Association, as Trustee, for the benefit of the Holders of COMM 2015 CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates
and the related Serviced Companion Loan Noteholders REO Account,” to be held for the benefit of the Certificateholders and
the related Serviced Companion Loan Noteholders. The Special Servicer shall be entitled to withdraw for its account any interest
or investment income earned on funds deposited in an REO Account or a Serviced Loan Combination REO Account to the extent provided
in Section 3.07(b) of this Agreement. The Special Servicer shall deposit or cause to be deposited REO Proceeds in the REO Account
or the applicable Serviced Loan Combination REO Account within one Business Day after receipt of such REO Proceeds, and shall withdraw
therefrom funds necessary for the proper operation, management and maintenance of such Serviced REO Property and for other Property
Protection Expenses with respect to such Serviced REO Property, including:

(i)           all
insurance premiums due and payable in respect of any Serviced REO Property;

(ii)          all
real estate taxes and assessments in respect of any Serviced REO Property that may result in the imposition of a lien thereon;

(iii)         all
costs and expenses reasonable and necessary to protect, maintain, manage, operate, repair and restore any Serviced REO Property
including, if applicable, the payments of any ground rents in respect of such Serviced REO Property; and

(iv)         any
taxes imposed on the Lower-Tier REMIC in respect of net income from foreclosure property in accordance with Section 4.05, and with
respect to a Serviced Loan Combination, such expenses shall be allocated pro rata to the Mortgage Loan and any related Serviced
Companion Loan based on each loan’s Stated Principal Balance and only to the extent any such Serviced Companion Loan is included
in a REMIC.

 

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To the extent that
such REO Proceeds are insufficient for the purposes set forth in clauses (i) through (iii) above, the Master Servicer shall make
such Advance unless the Master Servicer or the Special Servicer determines, in accordance with the Servicing Standard, that such
Property Advance would constitute a Nonrecoverable Advance (provided that with respect to advancing insurance premiums or
delinquent tax assessments the Master Servicer shall comply with the provisions of the second to last paragraph in Section 3.21(d)
of this Agreement) and if the Master Servicer does not make any such Advance, the Trustee, to the extent a Responsible Officer
of the Trustee has actual knowledge of the Master Servicer’s failure to make such Advance, shall make such Advance, unless
in each case, the Master Servicer, the Special Servicer or the Trustee, as applicable, determines that such Advance would be a
Nonrecoverable Advance. The Trustee shall be entitled to rely, conclusively, on any determination by the Special Servicer or the
Master Servicer, as applicable, that an Advance, if made, would be a Nonrecoverable Advance. The Trustee, when making an independent
determination whether or not a proposed Advance would be a Nonrecoverable Advance, shall use its reasonable business judgment.
The Master Servicer or the Trustee, as applicable, shall be entitled to reimbursement of such Advances (with interest at the Advance
Rate) made pursuant to the preceding sentence, to the extent permitted by Section 3.06 of this Agreement. The Special Servicer
shall withdraw from each REO Account or Serviced Loan Combination REO Account, as applicable, and remit to the Master Servicer
for deposit into the Collection Account or the applicable Serviced Loan Combination Collection Account, as applicable, on a monthly
basis prior to or on the related Due Date the Net REO Proceeds received or collected from each Serviced REO Property, except that
in determining the amount of such Net REO Proceeds, the Special Servicer may retain in each REO Account or Serviced Loan Combination
REO Account, as applicable, reasonable reserves for repairs, replacements and necessary capital improvements and other related
expenses.

Notwithstanding the
foregoing, the Special Servicer shall not:

(i)           permit
any New Lease to be entered into, renewed or extended, if the New Lease by its terms will give rise to any income that does not
constitute Rents from Real Property;

(ii)          permit
any amount to be received or accrued under any New Lease, other than amounts that will constitute Rents from Real Property;

(iii)         authorize
or permit any construction on any Serviced REO Property, other than the repair or maintenance thereof or the completion of a building
or other improvement thereon, and then only if more than ten percent of the construction of such building or other improvement
was completed before default on the related Mortgage Loan became imminent, all within the meaning of Section 856(e)(4)(B) of the
Code; or

(iv)          Directly
Operate or allow any Person to Directly Operate any Serviced REO Property on any date more than 90 days after its date of acquisition
by the Trust Fund, unless such Person is an Independent Contractor;

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unless, in any such case, the Special
Servicer has requested and received an Opinion of Counsel addressed to the Special Servicer, the Certificate Administrator and
the Trustee (which opinion shall be an expense of the Trust Fund and, in the case of a Serviced Loan Combination with a Serviced
Companion Loan, such expense shall be allocated in accordance with the allocation provisions of the related Intercreditor Agreement)
to the effect that such action will not cause such Serviced REO Property to fail to qualify as “foreclosure property”
within the meaning of Section 860G(a)(8) of the Code (determined without regard to the exception applicable for purposes of Section
860D(a) of the Code) at any time that it is held by the Trust Fund, in which case the Special Servicer may take such actions as
are specified in such Opinion of Counsel.

The Special Servicer
shall be required to contract with an Independent Contractor, the fees and expenses of which shall be an expense of the Trust Fund
(and, in the case of the Serviced Loan Combinations, such expense shall be allocated in accordance with the allocation provisions
of the related Intercreditor Agreement) and payable out of REO Proceeds, for the operation and management of any Serviced REO Property,
within 90 days of the Trust Fund’s acquisition thereof (unless the Special Servicer shall have provided the Trustee and the
Certificate Administrator with an Opinion of Counsel that the operation and management of any Serviced REO Property other than
through an Independent Contractor shall not cause such Serviced REO Property to fail to qualify as “foreclosure property”
within the meaning of Section 860G(a)(8) of the Code) (which opinion shall be an expense of the Trust Fund, and in the case of
a Serviced Loan Combination, such expense shall be allocated in accordance with the allocation provisions of the related Intercreditor
Agreement), provided that:

(i)           the
terms and conditions of any such contract shall be reasonable and customary for the area and type of property and shall not be
inconsistent herewith;

(ii)          any
such contract shall require, or shall be administered to require, that the Independent Contractor pay all costs and expenses incurred
in connection with the operation and management of such Serviced REO Property, including those listed above, and remit all related
revenues (net of such costs and expenses) to the Special Servicer as soon as practicable, but in no event later than 30 days following
the receipt thereof by such Independent Contractor;

(iii)          none
of the provisions of this Section 3.15(b) relating to any such contract or to actions taken through any such Independent Contractor
shall be deemed to relieve the Special Servicer of any of its duties and obligations to the Trust Fund, the Trustee on behalf of
the Certificateholders and, in the case of a Serviced Loan Combination, the related Companion Loan Noteholders, with respect to
the operation and management of any such Serviced REO Property; and

(iv)         the
Special Servicer shall be obligated with respect thereto to the same extent as if it alone were performing all duties and obligations
in connection with the operation and management of such Serviced REO Property.

 

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The Special Servicer
shall be entitled to enter into any agreement with any Independent Contractor performing services for it related to its duties
and obligations hereunder for indemnification of the Special Servicer by such Independent Contractor, and nothing in this Agreement
shall be deemed to limit or modify such indemnification.

(c)          Promptly following
any acquisition by the Special Servicer of a Serviced REO Property on behalf of the Trust Fund, the Special Servicer shall notify
the Master Servicer thereof, and, upon delivery of such notice, the Special Servicer shall obtain an Updated Valuation thereof,
but only if any Updated Valuation with respect thereto is more than 9 months old and the Special Servicer has no actual knowledge
of any material adverse change in circumstances that, consistent with the Servicing Standard, would call into question the validity
of such Updated Valuation, in order to determine the fair market value of such Serviced REO Property and shall notify the Depositor
and the Master Servicer and with respect to a Serviced Loan Combination, the holder of the related Companion Loan, if any, and
of the results of such Updated Valuation. Any such Updated Appraisal shall be conducted in accordance with Appraisal Institute
standards and the cost thereof shall be an expense of the Trust Fund and allocated to the Classes of Sequential Pay Certificates
in the following order, in each case until the Certificate Balance of such Class of Certificates is reduced to zero: first,
to the Class H Certificates; second, to the Class G Certificates; third, to the Class F Certificates; fourth,
to the Class E Certificates; fifth, to the Class D Certificates; sixth, to the Class C Certificates; seventh,
to the Class B Certificates; eighth, to the Class A-M Certificates; and then to the Class A-1, Class A-2, Class A-SB,
Class A-3 and Class A-4 Certificates, pro rata, based on their respective Certificate Balances. In the case of any Serviced
Loan Combination such expenses shall be allocated in accordance with the allocation provisions set forth in the related Intercreditor
Agreement. The Special Servicer shall obtain a new Updated Valuation or a letter update every 9 months thereafter until the Serviced
REO Property is sold.

(d)          When and as
necessary, the Special Servicer shall send to the Certificate Administrator a statement prepared by the Special Servicer setting
forth the amount of net income or net loss, as determined for federal income tax purposes, resulting from the operation and management
of a trade or business on, the furnishing or rendering of a non-customary service to the tenants of, or the receipt of any other
amount not constituting Rents from Real Property in respect of, any Serviced REO Property in accordance with Sections 3.15(a) and
3.15(b) of this Agreement.

(e)          Upon the disposition
of any Serviced REO Property in accordance with this Section 3.15, the Special Servicer shall calculate the Excess Liquidation
Proceeds allocable to a Mortgage Loan or the applicable Serviced Loan Combination, if any, realized in connection with such sale.

Section 3.16          Sale
of Specially Serviced Loans and REO Properties.  (a)  The parties hereto
may sell or purchase, or permit the sale or purchase of, a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced
Loan Combination only on the terms and subject to the conditions set forth in this Section 3.16 or as otherwise expressly provided
in or contemplated by Section 2.03(e) and Section 9.01 of this Agreement or in an applicable Intercreditor Agreement.

 

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(b)          If the Special
Servicer determines in accordance with the Servicing Standard that it would be in the best interests of the Certificateholders
and, in the case of a Serviced Loan Combination, the Certificateholders and the related Serviced Companion Loan Noteholders (as
a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted a single lender
(and with respect to any Serviced Loan Combination with a related Subordinate Companion Loan, taking into account the subordinate
nature of such Subordinate Companion Loan)) to attempt to sell a Defaulted Mortgage Loan (other than a Non-Serviced Mortgage Loan)
and any related Serviced Companion Loan (subject to the terms of any related Intercreditor Agreement), the Special Servicer shall
use reasonable efforts to solicit offers for each such Defaulted Mortgage Loan on behalf of the Certificateholders and, if applicable,
the related Serviced Companion Loan Noteholders in such manner as will be reasonably likely to realize a fair price; provided,
that with respect to any Serviced Loan Combination, the Special Servicer shall be required to sell (with the consent of the Directing
Holder prior to a Control Termination Event) such related Mortgage Loan and the related Serviced Pari Passu Companion Loan if it
determines in accordance with the Servicing Standard that such action would be in the best interests of the Certificateholders
and the holder(s) of the related Serviced Pari Passu Companion Loan(s); provided, further that with respect to any
Non-Serviced Mortgage Loan, the Special Servicer (solely to the extent that the special servicer of the related Other Securitization
holding the related Non-Serviced Companion Loan fails to sell such Non-Serviced Companion Loan together with such Non-Serviced
Mortgage Loan as required pursuant to the terms of the related Other Pooling and Servicing Agreement and Intercreditor Agreement)
shall be entitled in its sole discretion (but not required), subject to the transfer restrictions in the related Intercreditor
Agreement, to sell (with the consent of the Directing Holder prior to a Control Termination Event) such Non-Serviced Mortgage Loan
if it determines in accordance with the Servicing Standard that such action would be in the best interests of the Certificateholders.
The Special Servicer shall accept the first (and, if multiple offers are received, the highest cash offer received in the solicitation
process within the time frame set for such process by the Special Servicer) cash offer received from any Person that constitutes
a fair price for such Defaulted Mortgage Loan.

The Special Servicer
shall give the Trustee, the Certificate Administrator, the Master Servicer, the Operating Advisor, the Directing Holder and any
related Serviced Companion Noteholder, not less than ten Business Days’ prior written notice of its intention to sell any
such Defaulted Mortgage Loan, and notwithstanding anything to the contrary herein, neither the Trustee, in its individual capacity,
nor any of its Affiliates may make an offer for or purchase any such Defaulted Mortgage Loan pursuant to this Agreement.

(c)          Whether any
cash offer constitutes a fair price for such Defaulted Mortgage Loan, as the case may be, shall be determined by the Special Servicer,
if the highest offeror is a Person other than an Interested Person, and by the Trustee, if the highest offeror is an Interested
Person; provided, that no offer from an Interested Person shall constitute a fair price unless it is the highest offer received.
In determining whether any offer received from an Interested Person represents a fair price for any such Defaulted Mortgage Loan,
the Trustee shall be supplied with and shall rely on the most recent Appraisal or Updated Appraisal conducted in accordance with
this Agreement within the preceding 9-month period or in the

 

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absence of any such Appraisal, on a narrative appraisal prepared by
an Independent MAI Appraiser selected by (i) the Special Servicer if the Special Servicer or an Affiliate of the Special Servicer
is not making an offer with respect to such Defaulted Mortgage Loan, (ii) by the Master Servicer if the Special Servicer is making
such an offer unless the Master Servicer and Special Servicer are Affiliates or (iii) the Operating Advisor if the Master Servicer
and Special Servicer are Affiliates and the Special Servicer is making an offer. The cost of any such Updated Appraisal or narrative
appraisal shall be covered by, and shall be reimbursable as, a Property Advance. The Trustee may retain and conclusively rely on
any opinions or reports of qualified Independent experts in real estate or commercial mortgage loan matters with at least five
years’ experience in valuing or investing in loans similar to the subject Defaulted Mortgage Loan, selected with reasonable
care by the Trustee, in connection with making such determination. Any related costs and fees of the Trustee shall be reimbursable
by the related Interested Person in advance.

In determining whether
any offer from a Person other than an Interested Person constitutes a fair price for any such Defaulted Mortgage Loan, the Special
Servicer shall take into account (in addition to the results of any Appraisal, Updated Appraisal or narrative appraisal that it
may have obtained pursuant to this Agreement within the prior 9 months), and in determining whether any offer from an Interested
Person constitutes a fair price for any such Defaulted Mortgage Loan, any appraiser shall be instructed to take into account, as
applicable, among other factors, the period and amount of the Delinquency on such Defaulted Mortgage Loan, the period and amount
of the occupancy level and physical condition of the related Mortgaged Property, the state of the local economy in the area where
the Mortgaged Property is located, the expected recovery from such Defaulted Mortgage Loan if the Special Servicer were to pursue
a workout strategy, and the time and expense associated with a purchaser’s foreclosing on the related Mortgaged Property.

In addition, the Special
Servicer shall refer to all other relevant information obtained by it or otherwise contained in the Mortgage File; provided
that the Special Servicer shall take account of any change in circumstances regarding the related Mortgaged Property known to the
Special Servicer that has occurred subsequent to, and that would, in the Special Servicer’s reasonable judgment, materially
affect the value of the related Mortgaged Property reflected in the most recent related Appraisal. Furthermore, the Special Servicer
may consider available objective third party information obtained from generally available sources, as well as information obtained
from vendors providing real estate services to the Special Servicer, concerning the market for distressed real estate loans and
the real estate market for the subject property type in the area where the related Mortgaged Property is located. The Special Servicer
may, to the extent it is reasonable to do so in accordance with the Servicing Standard, conclusively rely on any opinions or reports
of qualified Independent experts in real estate or commercial mortgage loan matters with at least five years’ experience
in valuing or investing in loans similar to the subject Specially Serviced Loan, selected with reasonable care by the Special Servicer,
in making such determination. All reasonable costs and expenses incurred by the Special Servicer pursuant to this Section 3.16(c)
shall constitute, and be reimbursable as, Property Advances. The other parties to this Agreement shall cooperate with all reasonable
requests for information made by the Special Servicer in order to allow the Special Servicer to perform its duties pursuant to
this Section 3.16(c).

 

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The Repurchase Price
(which, in connection with the administration of a Defaulted Mortgage Loan related to a Serviced Loan Combination, shall be construed
and calculated as if the loans in such Serviced Loan Combination together constitute a single Mortgage Loan thereunder) for any
such Defaulted Mortgage Loan shall in all cases be deemed a fair price.

(d)          Subject to
subsection (c) above, the Special Servicer shall act on behalf of the Trustee (for the benefit of the Certificateholders and, in
the case of a Serviced Loan Combination, the related Serviced Companion Loan Noteholders) in negotiating and taking any other action
necessary or appropriate in connection with the sale of any such Defaulted Mortgage Loan, and the applicable collection of all
amounts payable in connection therewith. In connection therewith, the Special Servicer may charge for its own account prospective
offerors, and may retain, fees that approximate the Special Servicer’s actual costs in the preparation and delivery of information
pertaining to such sales or exchanging offers without obligation to deposit such amounts into the REO Account, the Collection Account
or, in the case of any Serviced Loan Combination, the applicable Serviced Loan Combination Collection Account. Any sale of such
Defaulted Mortgage Loan shall be final and without recourse to the Trustee or the Trust Fund (except such recourse to the Trust
Fund imposed by those representations and warranties typically given in such transactions, any prorations applied thereto and any
customary closing matters), and if such sale is consummated in accordance with the terms of this Agreement, none of the Special
Servicer, the Master Servicer, the Depositor, the Certificate Administrator, the Operating Advisor or the Trustee shall have any
liability to any Certificateholder or Companion Loan Noteholder with respect to the purchase price therefor accepted by the Special
Servicer or the Trustee.

(e)          Any sale of
such Defaulted Mortgage Loan shall be for cash only.

(f)           The parties
hereto may sell or purchase, or permit the sale or purchase of, a Serviced REO Property only on the terms and subject to the conditions
set forth in this Section 3.16 or as otherwise expressly provided in an applicable Intercreditor Agreement.

(g)          The Special
Servicer shall use reasonable efforts to solicit offers for each Serviced REO Property on behalf of the Certificateholders and,
in the case of a Serviced Loan Combination, the related Serviced Companion Loan Noteholders in such manner as will be reasonably
likely to realize a fair price within the time period provided for by Section 3.15(a) of this Agreement. The Special Servicer (with
the consent of the Directing Holder) shall accept the first (and, if multiple offers are contemporaneously received, subject to
Section 3.16(k), the highest) cash offer received from any Person that constitutes a fair price for such Serviced REO Property.
If the Special Servicer determines, in its good faith and reasonable judgment, that it will be unable to realize a fair price for
any Serviced REO Property within the time constraints imposed by Section 3.15(a) of this Agreement, then the Special Servicer (with
the consent of the Directing Holder) shall dispose of such Serviced REO Property upon such terms and conditions as the Special
Servicer shall deem necessary and desirable to maximize the recovery thereon under the circumstances and, in connection therewith,
shall accept the highest outstanding cash offer, regardless of from whom received.

 

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The Special Servicer
shall give the Trustee, the Certificate Administrator, the Master Servicer, the Operating Advisor and the Directing Holder, not
less than ten Business Days’ prior written notice of its intention to sell any Serviced REO Property, and notwithstanding
anything to the contrary herein, neither the Trustee, in its individual capacity, nor any of its Affiliates may make an offer for
or purchase any Serviced REO Property pursuant to this Agreement.

(h)          Whether any
cash offer constitutes a fair price for any Serviced REO Property, as the case may be, shall be determined by the Special Servicer,
if the highest offeror is a Person other than an Interested Person, and by the Trustee, if the highest offeror is an Interested
Person; provided, that no offer from an Interested Person shall constitute a fair price unless it is the highest offer received.
In determining whether any offer received from an Interested Person represents a fair price for any such Serviced REO Property,
the Trustee shall be supplied with and shall rely on the most recent appraisal or Updated Appraisal conducted in accordance with
this Agreement within the preceding 9-month period or in the absence of any such appraisal, on a narrative appraisal prepared by
an Independent MAI Appraiser selected by the Special Servicer if the Special Servicer or an Affiliate of the Special Servicer is
not making an offer with respect to a Serviced REO Property (or by the Master Servicer if the Special Servicer is making such an
offer). The cost of any such Updated Appraisal or narrative appraisal and any related costs and fees of the Trustee shall be covered
by, and shall be reimbursable as, a Property Advance. In determining whether any offer from a Person other than an Interested Person
constitutes a fair price for any such Serviced REO Property, the Special Servicer shall take into account (in addition to the results
of any appraisal, updated appraisal or narrative appraisal that it may have obtained pursuant to this Agreement within the prior
9 months), and in determining whether any offer from an Interested Person constitutes a fair price for any such Serviced REO Property,
any appraiser shall be instructed to take into account, as applicable, among other factors, the period and amount of the occupancy
level and physical condition of the Mortgaged Property or Serviced REO Property, the state of the local economy and the obligation
to dispose of any Serviced REO Property within the time period specified in Section 3.15(a) of this Agreement. The Repurchase Price
(which, in connection with the administration of a Serviced REO Property related to a Serviced Loan Combination, shall be construed
and calculated as if the loans in such Serviced Loan Combination together constitute a single Mortgage Loan thereunder) for any
Serviced REO Property shall in all cases be deemed a fair price.

(i)           Subject to
subsections (g) and (h) above, the Special Servicer shall act on behalf of the Trustee (for the benefit of the Certificateholders
and, in the case of a Serviced Loan Combination, the related Serviced Companion Loan Noteholders) in negotiating and taking any
other action necessary or appropriate in connection with the sale of any Serviced REO Property, and the applicable collection of
all amounts payable in connection therewith. In connection therewith, the Special Servicer may charge for its own account prospective
offerors, and may retain, fees that approximate the Special Servicer’s actual costs in the preparation and delivery of information
pertaining to such sales or exchanging offers without obligation to deposit such amounts into the Collection Account or, in the
case of any Serviced Loan Combination, the applicable Serviced Loan Combination Collection Account. Any sale of a Serviced REO
Property shall be final and without recourse to the Trustee or the Trust Fund

 

    	-232-

    	 

    

 

(except such recourse to the Trust Fund imposed by
those representations and warranties typically given in such transactions, any prorations applied thereto and any customary closing
matters), and if such sale is consummated in accordance with the terms of this Agreement, none of the Special Servicer, the Master
Servicer, the Depositor or the Trustee shall have any liability to any Certificateholder or Serviced Companion Loan Noteholder
with respect to the purchase price therefor accepted by the Special Servicer or the Trustee.

(j)           Any sale of
a Serviced REO Property shall be for cash only.

(k)          Notwithstanding
any of the foregoing paragraphs of this Section 3.16, the Special Servicer shall not be obligated to accept the highest cash offer
if the Special Servicer determines, in its reasonable and good faith judgment, that rejection of such offer would be in the best
interests of the Certificateholders and, in the case of a Serviced Loan Combination, the related Serviced Companion Loan Noteholders
(as a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted a single
lender (and with respect to any Serviced Loan Combination with a related Subordinate Companion Loan, taking into account the subordinate
nature of such Subordinate Companion Loan), and the Special Servicer may accept a lower cash offer (from any Person other than
itself or an Affiliate) if it determines, in its reasonable and good faith judgment, that acceptance of such offer would be in
the best interests of the Certificateholders (for example, if the prospective buyer making the lower offer is more likely to perform
its obligations or the terms offered by the prospective buyer making the lower offer are more favorable) and, in the case of a
Serviced Loan Combination, the related Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders
and, if applicable, Serviced Companion Loan Noteholders) constituted a single lender (and with respect to any Serviced Loan Combination
with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan).

(l)            With respect
to each defaulted Serviced Pari Passu Companion Loan, the Special Servicer shall have the obligation to sell such defaulted Serviced
Pari Passu Companion Loan together with the related Mortgage Loan pursuant to the terms of the related Intercreditor Agreement
as if such Mortgage Loan and Serviced Pari Passu Companion Loan were one whole loan on behalf of the Certificateholders and the
related Serviced Companion Loan Noteholders. The Special Servicer shall provide notice to the applicable Other Special Servicer
(if any) and, to the extent actually known to the Special Servicer, the controlling class representative of the related Other Securitization
as soon as practicable following its decision to attempt to sell, and prior to the commencement of marketing of, any Serviced Pari
Passu Companion Loan. The Special Servicer shall deliver to the holders of the related Serviced Companion Loans: (i) at least fifteen
(15) Business Days’ prior written notice of any decision to attempt to sell the related Serviced Loan Combination; (ii) at
least ten (10) days prior to the permitted 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; (iii) at least ten (10) days prior to
the proposed sale date, a copy of the most recent appraisal for such Serviced Loan Combination, and any documents in the servicing
file reasonably requested by the holders of the applicable Serviced Companion Loans that are material to the sale price of such
Serviced Loan Combination; and (iv) until the sale is completed, and a reasonable period of time (but not less time than is afforded
to other offerors and the Directing

 

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Holder) prior to the proposed sale date, all information and other documents being provided
to other offerors and all leases or other documents that are approved by the Special Servicer in connection with the proposed sale.
The holders of the Serviced Pari Passu Companion Loans (or, in any case, their respective representatives) shall be permitted to
submit an offer at any sale of such related Serviced Loan Combination; however, the related Borrower and its agents and Affiliates
shall not be permitted to submit an offer at such sale. Notwithstanding the foregoing, with respect to a Serviced Loan Combination,
a holder of a related Serviced Pari Passu Companion Loan may waive any of the delivery or timing requirements set forth in this
paragraph.

Section 3.17          Additional
Obligations of the Master Servicer and the Special Servicer; Inspections.   (a)   The Master Servicer
(at its own expense) (or, with respect to Specially Serviced Loans and Serviced REO Properties, the Special Servicer) shall inspect
or cause to be inspected each Mortgaged Property securing a Mortgage Loan (other than a Non-Serviced Mortgage Loan) that it is
servicing at such times and in such manner as is consistent with the Servicing Standard, but in any event shall inspect each Mortgaged
Property with a Stated Principal Balance (or in the case of a Mortgage Loan secured by more than one Mortgaged Property, having
an Allocated Loan Amount) of (A) $2,000,000 or more at least once every 12 months (commencing in 2016) and (B) less than $2,000,000
at least once every 24 months (commencing in 2017), (or, in each case, at such decreased frequency as each Rating Agency shall
have provided a No Downgrade Confirmation relating to the Certificates and Serviced Companion Loan Securities, if any); provided,
that if any Mortgage Loan or Serviced Loan Combination becomes a Specially Serviced Loan, the Special Servicer is required to inspect
or cause to be inspected the related Mortgaged Property as soon as practicable after the Mortgage Loan or Serviced Loan Combination
becomes a Specially Serviced Loan; provided, further, that the Master Servicer will not be required to inspect a
Mortgaged Property that has been inspected in the previous six months. The reasonable cost of each such inspection performed in
accordance with the Servicing Standard by the Special Servicer shall be paid by the Master Servicer as a Property Advance; provided,
that if such Advance would be a Nonrecoverable Advance, then the cost of such inspections shall be an expense of the Trust payable
out of general collections. With respect to a Serviced Loan Combination, the costs described in the preceding sentence above that
relate to the applicable Serviced Loan Combination shall be paid out of amounts on deposit in the Serviced Loan Combination Collection
Account related to such Serviced Loan Combination (allocated in accordance with the expense allocation provision of the related
Intercreditor Agreement). If funds in the applicable Serviced Loan Combination Collection Account relating to a Serviced Loan Combination
are insufficient, then any deficiency shall be paid from amounts on deposit in the Collection Account; provided that the
Master Servicer shall, after receiving payment from amounts on deposit in the Collection Account, if any, (i) promptly notify the
related Companion Loan Noteholder and (ii) use commercially reasonable efforts to exercise on behalf of the Trust any rights under
the related Intercreditor Agreement to obtain reimbursement for a pro rata portion of such amount allocable to the related
Serviced Companion Loan from the related Companion Loan Noteholder. The Master Servicer or the Special Servicer, as applicable,
shall prepare a written report of the inspection describing, among other things, the condition of and any damage to the Mortgaged
Property securing a Mortgage Loan that it is servicing and specifying the existence of any material vacancies in such Mortgaged
Property, any sale, transfer or abandonment of such Mortgaged Property of which it has actual

 

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knowledge, any material adverse change
in the condition of the Mortgaged Property, or any visible material waste committed on applicable Mortgaged Property. The Master
Servicer or Special Servicer, as applicable, shall send such reports to the 17g-5 Information Provider (who shall promptly post
such reports to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement), the related Other
17g-5 Information Provider (if any), and, upon request, to the Underwriters and the Initial Purchasers within 35 days of completion
of the inspection report, each inspection report.

(b)          With respect
to each Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination, as applicable, the Master Servicer
(or the Special Servicer, in the case of a Specially Serviced Loan) shall exercise the Trustee’s rights, in accordance with
the Servicing Standard, with respect to the Manager under the related Loan Documents and Management Agreement, if any.

(c)          If, with respect
to any Mortgage Loan (other than a Non-Serviced Mortgage Loan, a Specially Serviced Loan or a previously Specially Serviced Loan
with respect to which the Special Servicer has waived or amended the prepayment restrictions such that the related Borrower is
not required to prepay on a Due Date or pay interest that would have accrued on the amount prepaid through and including the last
day of the interest accrual period occurring following the date of such prepayment) or Serviced Companion Loan, the Master Servicer
accepts a voluntary Principal Prepayment (other than (i) in accordance with the terms of the related Loan Documents, (ii) in connection
with the payment of insurance proceeds or condemnation proceeds unless the Master Servicer did not apply the proceeds thereof in
accordance with the terms of the related Loan Documents, (iii) subsequent to a default under the related Loan Documents if the
Master Servicer reasonably believes that acceptance of such prepayment is consistent with the Servicing Standard, (iv) at the request
of or with the consent of the Special Servicer or, for so long as no Control Termination Event has occurred and is continuing,
the Directing Holder, or (v) pursuant to applicable law or a court order resulting in a Prepayment Interest Shortfall, then the
Master Servicer shall deliver to the Certificate Administrator on each Servicer Remittance Date for deposit in the Lower-Tier Distribution
Account (or, in the case of a Prepayment Interest Shortfall with respect to a Serviced Companion Loan, remit to the holder of the
Serviced Companion Loan a pro rata portion of the following amount), without any right of reimbursement therefor, a cash
payment (the “Master Servicer Prepayment Interest Shortfall Amount”), in an amount equal to the lesser of (x)
the aggregate amount of those Prepayment Interest Shortfalls incurred in connection with such voluntary Principal Prepayments received
in respect of the Mortgage Loans (other than a Non-Serviced Mortgage Loan or a Specially Serviced Loan) or Serviced Companion Loan
(other than a Non-Serviced Mortgage Loan or a Specially Serviced Loan) during the related Collection Period, and (y) the aggregate
of (A) the portion of its Master Servicing Fee (calculated for this purpose at 0.0025% per annum) that is being paid in such Collection
Period with respect to the Mortgage Loans or Serviced Companion Loans serviced by it (other than a Non-Serviced Mortgage Loan or
a Specially Serviced Loan) and (B) all Prepayment Interest Excess received during the related Collection Period on the Mortgage
Loans or Serviced Companion Loans (other than a Non-Serviced Mortgage Loan or a Specially Serviced Loan); provided that if any
Prepayment Interest Shortfall occurs with respect to any Mortgage Loan as a result of the Master Servicer’s failure to enforce
the related Loan Documents (other than in connection with (a) a Non-Serviced Mortgage Loan, (b) a Specially Serviced Loan, (c)
a

 

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previously Specially Serviced Loan with respect to which the Special Servicer has waived or amended the prepayment restriction
such that the related Borrower is not required to prepay on a Due Date or pay interest that would have accrued on the amount prepaid
through and including the last day of the interest accrual period occurring following the date of such prepayment or (d) the circumstances
covered in clauses (i), (ii), (iii) or (iv) above), the Master Servicer shall be required to pay an amount equal to the entire
Prepayment Interest Shortfall with respect to that Mortgage Loan. The Master Servicer’s obligation to pay the Master Servicer
Prepayment Interest Shortfall Amount, and the rights of the Certificateholders to offset of the aggregate Prepayment Interest Shortfalls
against those amounts, shall not be cumulative.

(d)          The Master
Servicer shall, as to each Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination that is secured
by the interest of the related Borrower under a ground lease (or, with respect to a leasehold interest where the Borrower is the
lessee and that is a space lease or an air rights lease, such space lease or air rights lease), promptly (and in any event within
60 days) after the Closing Date notify the related ground lessor of the transfer of such Mortgage Loan or Serviced Loan Combination
to the Trust pursuant to this Agreement and inform such ground lessor that any notices of default under the related ground lease
(or, with respect to a leasehold interest where the Borrower is the lessee and that is a space lease or an air rights lease, the
related space lease or air rights lease) should thereafter be forwarded to the Master Servicer.

(e)          The Master
Servicer shall, to the extent consistent with the Servicing Standard and permitted by the related Loan Documents, not apply any
funds with respect to a Mortgage Loan or Serviced Loan Combination (whether arising in the form of a holdback, earnout reserve,
cash trap or other similar feature) to the prepayment of the related Mortgage Loan or Serviced Loan Combination prior to an event
of default or reasonably foreseeable event of default with respect to such Mortgage Loan or Serviced Loan Combination. Prior to
an event of default or reasonably foreseeable event of default any such amounts described in the immediately preceding sentence
shall be held by the Master Servicer as additional collateral for the related Mortgage Loan or Serviced Loan Combination.

Section 3.18           Authenticating Agent.   The Certificate Administrator
may appoint an Authenticating Agent to execute and to authenticate Certificates. The Authenticating Agent must be acceptable to
the Depositor and must be a corporation organized and doing business under the laws of the United States of America or any state,
having a principal office and place of business in a state and city acceptable to the Depositor, having a combined capital and
surplus of at least $15,000,000, authorized under such laws to do a trust business and subject to supervision or examination by
federal or state authorities. The Certificate Administrator shall serve as the initial Authenticating Agent.

Any corporation into
which the Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation resulting from
any merger, conversion or consolidation to which the Authenticating Agent shall be party, or any corporation succeeding to the
corporate agency business of the Authenticating Agent, shall be the Authenticating Agent without the execution or filing of any
paper or any further act on the part of the Certificate Administrator or the Authenticating Agent.

 

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The Authenticating
Agent may at any time resign by giving at least 30 days’ advance written notice of resignation to the Certificate Administrator,
the Trustee, the Depositor and the Master Servicer. The Certificate Administrator may at any time terminate the agency of the Authenticating
Agent by giving written notice of termination to the Authenticating Agent, the Depositor and the Master Servicer. Upon receiving
a notice of resignation or upon such a termination, or in case at any time the Authenticating Agent shall cease to be eligible
in accordance with the provisions of this Section 3.18, the Certificate Administrator may appoint a successor Authenticating Agent,
which shall be acceptable to the Depositor, and shall mail notice of such appointment to all Certificateholders. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers, duties and responsibilities
of its predecessor hereunder, with like effect as if originally named as Authenticating Agent herein. No successor Authenticating
Agent shall be appointed unless eligible under the provisions of this Section 3.18.

The Authenticating
Agent shall have no responsibility or liability for any action taken by it as such at the direction of the Certificate Administrator.
Any compensation paid to the Authenticating Agent shall be an unreimbursable expense of the Certificate Administrator, as applicable.

Section 3.19          Appointment
of Custodians.   The Certificate Administrator
shall be the initial Custodian hereunder. The Certificate Administrator may appoint one or more additional Custodians to hold all
or a portion of the Mortgage Files on behalf of the Trustee and otherwise perform the duties set forth in Article II, by entering
into a Custodial Agreement with any Custodian who is not the Depositor. The Certificate Administrator agrees to comply with the
terms of each Custodial Agreement and to enforce the terms and provisions thereof against the Custodian for the benefit of the
Certificateholders. The Certificate Administrator shall not be liable for any act or omission of the Custodian under the Custodial
Agreement. Each Custodian shall be a depository institution subject to supervision by federal or state authority, shall have a
combined capital and surplus of at least $10,000,000, shall have a long-term debt rating of at least “Baa2” from Moody’s,
“BBB” from Fitch and an equivalent rating from KBRA if rated by KBRA. Each Custodial Agreement may be amended only
as provided in Section 11.08 of this Agreement. Any compensation paid to the Custodian shall be an unreimbursable expense of the
Certificate Administrator. If the Custodian is an entity other than the Certificate Administrator, the Custodian shall maintain
a fidelity bond in the form and amount that are customary for securitizations similar to the securitization evidenced by this Agreement.
The Custodian shall be deemed to have complied with this provision if one of its Affiliates has such fidelity bond coverage and,
by the terms of such fidelity bond, the coverage afforded thereunder extends to the Custodian. In addition, the Custodian shall
keep in force during the term of this Agreement a policy or policies of insurance covering loss occasioned by the errors and omissions
of its officers and employees in connection with its obligations hereunder in the form and amount that are customary for securitizations
similar to the securitization evidenced by this Agreement. All fidelity bonds and policies of errors and omissions insurance obtained
under this Section 3.19 shall be issued by a Qualified Insurer.

Section 3.20          
Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts.   The Master Servicer
shall administer each Lock-Box

 

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Account, Cash Collateral Account, Escrow Account and Reserve Account in accordance with the related
Mortgage or Loan Agreement, Cash Collateral Account Agreement or Lock-Box Agreement, if any relating to the Mortgage Loans (other
than a Non-Serviced Mortgage Loan) or Serviced Loan Combinations it is servicing.

Section  3.21          Property
Advances.

(a)          The Master
Servicer (or, to the extent provided in Section 3.21(b) of this Agreement, the Trustee) to the extent specifically provided
for in this Agreement, shall make any Property Advances as and to the extent otherwise required pursuant to the terms hereof with
respect to the Mortgage Loans (other than Non-Serviced Mortgage Loans) or Serviced Loan Combinations that it is servicing. For
purposes of distributions to Certificateholders and compensation to the Master Servicer, the Special Servicer or the Trustee, Property
Advances shall not be considered to increase the Stated Principal Balance of any such Mortgage Loan or Serviced Loan Combination,
notwithstanding that the terms of such Mortgage Loan or Serviced Loan Combination so provide.

(b)          Notwithstanding
anything in this Agreement to the contrary, the Special Servicer shall give the Master Servicer not less than five Business Days’
written notice with respect to any Property Advance to be made on any Specially Serviced Loan, before the date on which the Master
Servicer is required to make such Property Advance with respect to such Specially Serviced Loan or Serviced REO Loan; provided,
that the Special Servicer shall be required to provide the Master Servicer with only two Business Days’ written notice in
respect of Property Advances required to be made on an urgent or emergency basis (which may include, without limitation, Property
Advances required to make tax or insurance payments). If the Master Servicer or the Trustee makes a Property Advance with respect
to any Serviced Loan Combination then it shall provide written notice to the related Other Servicer, Other Special Servicer and
Other Trustee of the amount of such Property Advance with respect to such Serviced Loan Combination as part of its monthly report
following the making of such Property Advance. The Special Servicer shall have no obligation to make any Advances.

(c)          The Master
Servicer shall notify the Trustee and the Certificate Administrator in writing promptly upon, and in any event within one Business
Day after, becoming aware that it will be unable to make any Property Advance required to be made pursuant to the terms hereof,
and in connection therewith, shall set forth in such notice the amount of such Property Advance, the Person to whom it is to be
paid, and the circumstances and purpose of such Property Advance, and shall set forth therein information and instructions for
the payment of such Property Advance, and, on the date specified in such notice for the payment of such Property Advance, or, if
the date for payment has passed or if no such date is specified, then within five Business Days following such notice, the Trustee,
subject to the provisions of Section 3.21(d) of this Agreement, shall pay the amount of such Property Advance in accordance with
such information and instructions.

(d)          The Special
Servicer shall promptly furnish any party required to make Property Advances hereunder with any information in its possession regarding
the Specially Serviced Loans and REO Properties as such party required to make Property Advances may reasonably request for purposes
of making recoverability determinations. Notwithstanding

 

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anything to the contrary in this Agreement, the Special Servicer shall
have no obligation to make an affirmative determination that any Advance is, or would be, a Nonrecoverable Advance, and in the
absence of a determination by the Special Servicer that such an Advance is a Nonrecoverable Advance, then all such decisions shall
remain with the Master Servicer or Trustee, as applicable.

Notwithstanding anything
herein to the contrary, no Property Advance shall be required hereunder if the Person otherwise required to make such Property
Advance determines that such Property Advance would, if made, constitute a Nonrecoverable Property Advance. In addition, the Master
Servicer shall not make any Property Advance to the extent that it has received written notice that the Special Servicer has determined
(if no Consultation Termination Event has occurred and is continuing, in consultation with the Directing Holder) that such Property
Advance would, if made, constitute a Nonrecoverable Property Advance. In making such recoverability determination, such Person
will be entitled to (i) give due regard to the existence of any Nonrecoverable Advance or Workout-Delayed Reimbursement Amount
with respect to other Mortgage Loans, the recovery of which, at the time of such consideration, is being deferred or delayed by
the Master Servicer or the Trustee, as applicable, in light of the fact that proceeds on the related Mortgage Loan (or the related
Serviced Loan Combination, as applicable) are a source of recovery not only for the Property Advance under consideration, but also
as a potential source of recovery of such Nonrecoverable Advance or Workout-Delayed Reimbursement Amount which is being or may
be deferred or delayed and (ii) consider (among other things) the obligations of the Borrower under the terms of the related Mortgage
Loan (or the related Serviced Loan Combination, as applicable) as it may have been modified, (iii) consider (among other things)
the related Mortgaged Properties in their “as is” or then current conditions and occupancies, as modified by such party’s
assumptions (consistent with the Servicing Standard in the case of the Master Servicer or the Special Servicer) regarding the possibility
and effects of future adverse changes with respect to such Mortgaged Properties, (iv) estimate and consider (consistent with the
Servicing Standard in the case of the Master Servicer or the Special Servicer) (among other things) future expenses and (v) estimate
and consider (among other things) the timing of recoveries.

The Master Servicer,
the Special Servicer and the Trustee, as applicable, shall consider Unliquidated Advances in respect of prior Property Advances
for purposes of nonrecoverability determinations as if such Unliquidated Advances were unreimbursed Property Advances. If an Appraisal
of the related Mortgaged Property shall not have been obtained within the prior 9 month period (and the Master Servicer and the
Trustee shall each request any such appraisal from the Special Servicer prior to ordering an Appraisal pursuant to this sentence)
or if such an Appraisal shall have been obtained but as a result of unforeseen occurrences, such Appraisal does not, in the good
faith determination of the Master Servicer, the Special Servicer or the Trustee, reflect current market conditions, and the Master
Servicer or the Trustee, as applicable, and the Special Servicer cannot agree on the appropriate downward adjustment to such Appraisal,
the Master Servicer, the Special Servicer or the Trustee, as the case may be, may, subject to its reasonable and good faith determination
that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the
expense of the Trust Fund (and, in the case of any Serviced Loan Combination, such expense shall be allocated in accordance with
the allocation provisions of the related Intercreditor Agreement).

 

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Any determination
by the Master Servicer, Special Servicer or the Trustee that the Master Servicer or Trustee, as the case may be, has made a Property
Advance that is a Nonrecoverable Property Advance or any determination by the Master Servicer, the Special Servicer or the Trustee
that any proposed Property Advance, if made, would constitute a Nonrecoverable Property Advance shall be evidenced in the case
of the Master Servicer or the Special Servicer by a certificate of a Servicing Officer delivered to the other, to the Trustee,
the Controlling Class Representative (but only if no Consultation Termination Event has occurred and is continuing), the Operating
Advisor, the Certificate Administrator, any related Companion Loan holder(s) and the Depositor and, in the case of the Trustee,
by a certificate of a Responsible Officer of the Trustee, delivered to the Depositor, the Controlling Class Representative (but
only if no Consultation Termination Event has occurred and is continuing), the Operating Advisor, the Certificate Administrator,
any related Companion Loan holder(s), the Master Servicer and the Special Servicer, which in each case sets forth such nonrecoverability
determination and the considerations of the Master Servicer, the Special Servicer or the Trustee, as applicable, forming the basis
of such determination (such certificate accompanied by, to the extent available, income and expense statements, rent rolls, occupancy
status, property inspections and other information used by the Master Servicer, the Special Servicer or the Trustee, as applicable,
to make such determination, together with any existing Appraisal or any Updated Appraisal); provided that the Special Servicer
may, at its option, make a determination in accordance with the Servicing Standard, that any Property Advance previously made or
proposed to be made is nonrecoverable and shall deliver to the Master Servicer, the Certificate Administrator, the Controlling
Class Representative (but only if no Consultation Termination Event has occurred and is continuing), the Operating Advisor, the
Trustee, the related Serviced Pari Passu Companion Loan Noteholder (if any) and the 17g-5 Information Provider (who shall promptly
post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement) notice of such
determination. Any such determination shall be conclusive and binding on the Master Servicer, the Special Servicer and the Trustee.
Notwithstanding the foregoing, the Special Servicer shall have no obligation to make an affirmative determination that any Advance
is, or would be, a Nonrecoverable Advance, and in the absence of a determination by the Special Servicer that such an Advance is
a Nonrecoverable Advance, then all such decisions shall remain with the Master Servicer.

Any such Person may
update or change its recoverability determinations at any time (but not reverse any other Person’s determination that a Property
Advance is a Nonrecoverable Advance) and (consistent with the Servicing Standard in the case of the Master Servicer or the Special
Servicer) may obtain, at the expense of the Trust (and, in the case of a Serviced Loan Combination, such expense shall be allocated
in accordance with the allocation provisions of the related Intercreditor Agreement), any analysis, Appraisals or market value
estimates or other information for such purposes. Absent bad faith, any such determination as to the recoverability of any Property
Advance shall be conclusive and binding on the Certificateholders and the Serviced Companion Loan Noteholders.

Notwithstanding the
above, the Trustee and the Certificate Administrator shall be entitled to rely conclusively on any determination by the Master
Servicer and the Master Servicer, the Trustee and the Certificate Administrator shall be bound by any determination of the Special
Servicer that a Property Advance, if made, would be a Nonrecoverable Property

 

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Advance. The Trustee, in determining whether or not
a Property Advance previously made is, or a proposed Property Advance, if made, would be, a Nonrecoverable Property Advance shall
use its reasonable judgment.

With respect to the
payment of insurance premiums and delinquent tax assessments, if the Master Servicer determines that a Property Advance of such
amounts would constitute a Nonrecoverable Advance, the Master Servicer shall deliver notice of such determination to the Trustee,
the Certificate Administrator and the Special Servicer. Upon receipt of such notice, the Master Servicer (with respect to any Mortgage
Loan or Serviced Loan Combination that is not a Specially Serviced Loan) and the Special Servicer (with respect to any Specially
Serviced Loan or REO Property) shall determine (with the reasonable assistance of the Master Servicer) whether the payment of such
amount (i) is necessary to preserve the related Mortgaged Property and (ii) would be in the best interests of the Certificateholders
and, in the case of any Serviced Companion Loans, the related Serviced Companion Loan Noteholders (as a collective whole as if
such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted a single lender (and with respect to
any Serviced Loan Combination with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate
Companion Loan)). If the Master Servicer or the Special Servicer determines that the payment of such amount (i) is necessary to
preserve the related Mortgaged Property and (ii) would be in the best interests of the Certificateholders and, in the case of any
Serviced Companion Loan, the related Serviced Companion Loan Noteholder, the Special Servicer (in the case of a determination by
the Special Servicer) shall direct the Master Servicer in writing to make such payment and the Master Servicer shall make such
payment, to the extent of available funds, from amounts in the Collection Account or, if a Serviced Loan Combination is involved,
from amounts in the applicable Serviced Loan Combination Collection Account.

Notwithstanding anything
to the contrary contained in this Section 3.21, the Master Servicer may elect (but shall not be required) to make a payment out
of the Collection Account to pay for certain expenses specified in this sentence notwithstanding that the Master Servicer has determined
that a Property Advance with respect to such expenditure would be a Nonrecoverable Property Advance (unless, with respect to Specially
Serviced Loans or Serviced REO Loans, the Special Servicer has notified the Master Servicer to not make such expenditure), where
making such expenditure would prevent (i) the related Mortgaged Property from being uninsured or being sold at a tax sale or (ii)
any event that would cause a loss of the priority of the lien of the related Mortgage, or the loss of any security for the related
Mortgage Loan; provided that in each instance, the Master Servicer determines in accordance with the Servicing Standard
(as evidenced by a certificate of a Servicing Officer delivered to the Trustee and the Certificate Administrator) that making such
expenditure is in the best interests of the Certificateholders and, in the case of a Serviced Loan Combination, the related Serviced
Companion Loan Noteholders (as a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders
constituted a single lender (and with respect to any Serviced Loan Combination with a related Subordinate Companion Loan, taking
into account the subordinate nature of such Subordinate Companion Loan)). The Master Servicer may elect to obtain reimbursement
of Nonrecoverable Property Advances from the Trust Fund in accordance with Section 3.06 of this Agreement.

 

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(e)          The Master
Servicer and/or the Trustee, as applicable, shall be entitled to the reimbursement of Property Advances made by any of them to
the extent permitted pursuant to Section 3.06 of this Agreement, if applicable, of this Agreement, together with any related Advance
Interest Amount in respect of such Property Advances, and the Master Servicer, the Special Servicer and the Trustee each hereby
covenants and agrees to promptly seek and effect the reimbursement of such Property Advances from the related Borrowers to the
extent permitted by applicable law and the related Loan Documents.

The parties acknowledge
that, pursuant to the applicable Other Pooling and Servicing Agreement, the applicable Other Servicer is obligated to make property
advances with respect to the related Non-Serviced Mortgage Loan. The Other Servicer, the Other Special Servicer (to the extent
it has made an advance), the Other Trustee or fiscal agent or other Persons making advances under the applicable Other Pooling
and Servicing Agreement shall be entitled to reimbursement in accordance with Section 3.06(b) of this Agreement for the pro
rata portion (based on Stated Principal Balance) of the related Mortgage Loan (after amounts allocated to the related Subordinate
Companion Loan, if any) with respect to any property advance that is nonrecoverable (with, in each case, any pro rata portion
of accrued and unpaid interest thereon provided for under the Other Pooling and Servicing Agreement) in the manner set forth in
the Other Pooling and Servicing Agreement and the related Intercreditor Agreement, as applicable.

(f)          With respect
to any Serviced Loan Combination, if the Master Servicer, the Special Servicer or the Trustee, as applicable, determines that a
proposed Property Advance with respect to such Serviced Loan Combination, if made, or any outstanding Property Advance with respect
to any such Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer or Trustee,
as applicable, shall provide the Other Servicer, Other Special Servicer and the Other Trustee under each related Other Pooling
and Servicing Agreement with written notice of such determination, together with supporting evidence for such determination within
two (2) Business Days after such determination or such longer time period permitted by the applicable Intercreditor Agreement.

Section 3.22          Appointment
and Replacement of Special Servicer.   (a)  CWCapital Asset
Management LLC is hereby appointed as the initial Special Servicer to service each Specially Serviced Loan.

(b)          For so long
as no Control Termination Event has occurred and is continuing, the Directing Holder shall be entitled to terminate the rights
(subject to Section 3.05, Section 3.12 and Section 6.03(a) of this Agreement) and obligations of the Special Servicer under this
Agreement, with or without cause, and appoint a successor Special Servicer pursuant to Section 7.02 of this Agreement, upon ten
(10) Business Days’ notice to the Special Servicer, the Master Servicer, the Paying Agent, the Certificate Administrator,
the Operating Advisor and the Trustee; provided that with respect to any Serviced Loan Combination, the related Directing
Holder’s right to terminate the rights and obligations of the Special Servicer under this Agreement with respect to such
Serviced Loan Combination shall be subject to the limitations set forth in the related Intercreditor Agreement.

 

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(c)          Following the
occurrence and during the continuation of a Consultation Termination Event, subject to the immediately succeeding paragraph, if
the Operating Advisor determines that the Special Servicer is not performing its duties as required hereunder or is otherwise not
acting in accordance with the Servicing Standard, the Operating Advisor shall deliver to the Trustee and to the Certificate Administrator,
with a copy to the Special Servicer, a written recommendation (provided that the Operating Advisor shall not be permitted
to recommend the replacement of the Special Servicer with respect to any Loan Combination so long as the holder of the related
Companion Loan is the Loan-Specific Directing Holder under the related Intercreditor Agreement) setting forth the reasons supporting
its position (along with any information the Operating Advisor considered relevant to its recommendation) and recommending a replacement
special servicer; provided, that in no event shall the information or any other content included in such written recommendation
contravene any provision of this Agreement. The Certificate Administrator shall have no obligation to determine if the Operating
Advisor is or is not permitted to make such a recommendation with respect to a Loan Combination. In such event, the Certificate
Administrator shall promptly post notice to all Certificateholders of such recommendation on the Certificate Administrator’s
Website, and by mail (or through the DTC system, as applicable), and shall conduct the solicitation of votes of all Certificates
in such regard. Subsequently, upon (i) the written direction of Holders of Sequential Pay Certificates evidencing at least a majority
of the aggregate Voting Rights (taking into account the application of any Realized Losses and Appraisal Reduction Amounts to notionally
reduce the respective Certificate Balances pursuant to Section 4.08 of this Agreement) (which vote shall occur not more
than 180 days from the date the Certificate Administrator posts such recommendation on the Certificate Administrator’s Website;
provided that if such written direction is not provided within 180 days of the posting of the initial request for a vote to terminate
and replace the Special Servicer, then such written direction shall have no force and effect) and (ii) receipt of a No Downgrade
Confirmation from each Rating Agency with respect to the Certificates and, if such successor Special Servicer shall also specially
service a Serviced Loan Combination, any class of related Serviced Companion Loan Securities, by the Trustee following satisfaction
of the foregoing clause (i), the Trustee shall (x) terminate all of the rights and obligations of the Special Servicer under this
Agreement and appoint a successor Special Servicer approved by the Certificateholders; provided such termination is subject
to the terminated Special Servicer’s rights to indemnification, payment of outstanding fees and other compensation, reimbursement
of advances and other rights set forth in this Agreement which survive termination and (y) promptly notify such outgoing Special
Servicer of the effective date of such termination. The reasonable fees and out-of-pocket costs associated with administering such
vote shall be an Additional Trust Fund Expense. If the Trustee does not receive at least a majority of the requested votes, then
the Trustee shall not remove the Special Servicer. Prior to the appointment of any replacement special servicer, such replacement
special servicer shall have agreed to succeed to the obligations of the Special Servicer under this Agreement and to act as the
Special Servicer’s successor hereunder. No penalty or fee shall be payable to the terminated Special Servicer with respect
to any termination pursuant to this Section 3.22(c).

(d)          If a Control
Termination Event has occurred and is continuing and upon (a) the written direction of holders of Sequential Pay Certificates evidencing
not less than 25% of the Voting Rights (taking into account the application of any Appraisal Reduction Amounts

 

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to notionally reduce
the Certificate Balances of the Certificates pursuant to Section 4.08 of this Agreement) of the Sequential Pay Certificates requesting
a vote to replace the Special Servicer with a new special servicer designated in such written direction, (b) payment by such holders
to the Certificate Administrator of the reasonable fees and expenses (including any legal fees and any Rating Agency fees and expenses)
to be incurred by the Certificate Administrator in connection with administering such vote and (c) delivery by such holders to
the Certificate Administrator and the Trustee of a No Downgrade Confirmation from each Rating Agency with respect to the Certificates
(which No Downgrade Confirmation shall be obtained at the expense of those Certificateholders requesting such vote) and, if such
successor Special Servicer shall also specially service a Serviced Loan Combination, any class of related Serviced Companion Loan
Securities, the Certificate Administrator shall promptly provide written notice to all Certificateholders of such request by posting
such notice on the Certificate Administrator’s Website, and by mail (or through the DTC system, as applicable), and conduct
the solicitation of votes of all Certificates in such regard. Subsequently, if a Control Termination Event has occurred and is
continuing, upon the written direction of (i) holders of Sequential Pay Certificates evidencing at least 75% of a Certificateholder
Quorum or (ii) holders of Non-Reduced Certificates evidencing more than 50% of the Voting Rights of each Class of Non-Reduced Certificates,
the Trustee shall (x) terminate all of the rights and obligations of the Special Servicer under this Agreement and appoint the
successor Special Servicer designated by such Certificateholders, provided such termination is subject to the terminated Special
Servicer’s rights to indemnification, payment of outstanding fees and other compensation, reimbursement of advances and other
rights set forth in this Agreement which survive termination and (y) promptly notify such outgoing Special Servicer of the effective
date of such termination; provided that if such written direction is not provided within 180 days of the notice from the
Certificate Administrator of the request for a vote to terminate and replace the Special Servicer, then such written direction
shall have no force and effect. The reasonable fees and out-of-pocket costs associated with administering such vote shall be an
Additional Trust Fund Expense. The Certificate Administrator shall include on each Distribution Date Statement a statement that
each Certificateholder and Beneficial Owner may access notices on the Certificate Administrator’s Website and each Certificateholder
and Beneficial Owner may register to receive email notifications when such notices are posted on the Certificate Administrator’s
Website; provided that the Certificate Administrator shall be entitled to reimbursement from the requesting Certificateholders
for the reasonable expenses of posting such notices.

(e)          The Trustee
shall, promptly after receiving any removal notice pursuant to Section 3.22(b) of this Agreement or direction to terminate pursuant
to Section 3.22(c) or Section 3.22(d) of this Agreement, so notify the Certificate Administrator, the related Serviced Companion
Loan Noteholder (if any) and the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s
Website pursuant to Section 3.14(d) of this Agreement). The termination of the Special Servicer and appointment of a successor
Special Servicer pursuant to this Section 3.22 shall not be effective until (i) the Trustee receives from each Rating Agency a
No Downgrade Confirmation or, if such successor Special Servicer shall also specially service a Serviced Loan Combination, a Serviced
Companion Loan No Downgrade Confirmation, (ii) the successor special servicer has assumed all of its responsibilities, duties and
liabilities hereunder pursuant to a writing reasonably satisfactory to the Trustee, (iii) receipt by the Trustee of an Opinion
of Counsel to the effect that (x) the

 

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designation of such replacement to serve as Special Servicer is in compliance with this Agreement,
(y) such replacement will be bound by the terms of this Agreement and (z) this Agreement will be enforceable against such replacement
in accordance with its terms, (iv) the replacement Special Servicer certifies that such replacement special servicer satisfies
all related qualifications set forth in the Intercreditor Agreement relating to such Serviced Companion Loan and (v) receipt by
the Certificate Administrator (with a confirmation of such receipt delivered to the Trustee) of notice and information required
to be delivered by the successor Special Servicer under Section 10.03 of this Agreement. Any successor Special Servicer shall make
the representations and warranties provided for in Section 2.04(b) of this Agreement mutatis mutandis. In no event
may a successor Special Servicer be a current or former Operating Advisor or any Affiliate of such current or former Operating
Advisor. Further, such successor shall be a Person that (i) satisfies all of the eligibility requirements applicable to the special
servicer contained in this Agreement, (ii) is not obligated or allowed to pay the Operating Advisor any fees or otherwise compensate
the Operating Advisor (x) in respect of its obligations under this Agreement or (y) for the appointment of the successor Special
Servicer or the recommendation by the Operating Advisor for the replacement Special Servicer to become the Special Servicer, (iii)
is not entitled to waive any compensation from the Operating Advisor and (iv) is not entitled to receive any fee from the Operating
Advisor for its appointment as successor Special Servicer, in each case, unless expressly approved by 100% of the Certificateholders.
In addition, any replacement Special Servicer that will service any Serviced Loan Combination shall meet any requirements specified
in the related Intercreditor Agreement or, if applicable, the related Other Pooling and Servicing Agreement.

The existing Special
Servicer shall be deemed to have been removed simultaneously with such designated Person’s becoming the Special Servicer
hereunder; provided, that the Special Servicer removed pursuant to this Section shall be entitled to receive, and shall
have received, all amounts accrued or owing to it under this Agreement on or prior to the effective date of such resignation and
it shall continue to be entitled to any rights that accrued prior to the date of such resignation (including the right to receive
all fees, expenses and other amounts accrued or owing to it under this Agreement, plus the right to receive any Workout Fee or
Liquidation Fee specified in Section 3.12 of this Agreement if the Special Servicer is terminated and any indemnification
rights that the Special Servicer is entitled to pursuant to Section 6.03(a) of this Agreement) notwithstanding any such
removal. Such removed Special Servicer shall cooperate with the Trustee and the replacement Special Servicer in effecting the termination
of the resigning Special Servicer’s responsibilities and rights hereunder, including without limitation the transfer within
two Business Days to the successor Special Servicer for administration by it of all cash amounts that are thereafter received with
respect to the Mortgage Loans and, if applicable, Loan Combinations.

(f)          The appointment
of any such successor Special Servicer shall not relieve the Master Servicer or the Trustee of their respective obligations to
make Advances as set forth herein; provided, that neither the Trustee nor the Master Servicer shall be liable for any actions
or any inaction of such successor Special Servicer. Any termination fee payable to the terminated Special Servicer (and it is acknowledged
that there is no such fee payable in the event of a termination for breach of this Agreement) shall be paid by the Certificateholders
or the Directing Holder, as applicable, so terminating the Special Servicer and shall not in any

 

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event be an expense of the Trust
Fund or any Serviced Companion Loan Noteholder (unless such Serviced Companion Loan Noteholder is the Directing Holder).

(g)          If a replacement
special servicer is appointed with respect to a Serviced Loan Combination or any related Serviced REO Property in accordance with
this Section 3.22 such that there are multiple parties acting as Special Servicer hereunder, then, unless the context clearly
requires otherwise: (i) when used in the context of imposing duties and obligations on the Special Servicer hereunder or the performance
of such duties and obligations, the term “Special Servicer” shall mean the applicable Serviced Loan Combination Special
Servicer, insofar as such duties and obligations relate to the subject Serviced Loan Combination or any related Serviced REO Property,
and shall mean the General Special Servicer (as defined below in clause (h)), in all other cases (provided, that in Section
3.14 and Article VII of this Agreement, the term “Special Servicer” shall mean each of the Serviced Loan
Combination Special Servicers and the General Special Servicer); (ii) when used in the context of identifying the recipient of
any information, funds, documents, instruments and/or other items, the term “Special Servicer” shall mean the applicable
Serviced Loan Combination Special Servicer, insofar as such information, funds, documents, instruments and/or other items relate
to the subject Serviced Loan Combination or any related Serviced REO Property, and shall mean the General Special Servicer, in
all other cases; (iii) when used in the context of granting the Special Servicer the right to purchase Defaulted Mortgage Loans
pursuant to Section 3.16 of this Agreement, the term “Special Servicer” shall mean the General Special Servicer
only; (iv) when used in the context of granting the Special Servicer the right to purchase all of the Mortgage Loans and all other
property held by the Trust Fund pursuant to Section 9.01 of this Agreement, the term “Special Servicer” shall mean
the General Special Servicer only; (v) when used in the context of the Special Servicer being replaced pursuant to this Section
3.22 by the applicable Directing Holder, the term “Special Servicer” shall mean the General Special Servicer or the
Serviced Loan Combination Special Servicer, if applicable; (vi) when used in the context of granting the Special Servicer any protections,
limitations on liability, immunities and/or indemnities hereunder, the term “Special Servicer” shall mean each of the
Serviced Loan Combination Special Servicers and the General Special Servicer; and (vii) when used in the context of requiring indemnification
from, imposing liability on, or exercising any remedies against, the Special Servicer for any breach of a representation, warranty
or covenant hereunder or for any negligence, bad faith or willful misconduct in the performance of duties and obligations hereunder
or any negligent disregard of such duties and obligations or otherwise holding the Special Servicer responsible for any of the
foregoing, the term “Special Servicer” shall mean the applicable Serviced Loan Combination Special Servicer or the
General Special Servicer, as applicable.

(h)          References
in this Section 3.22 to “General Special Servicer” mean the Person performing the duties and obligations of special
servicer with respect to the Mortgage Pool (exclusive of any Loan Combination or related REO Property as to which a different Serviced
Loan Combination Special Servicer has been appointed with respect thereto).

(i)          No penalty
or fee shall be payable to the terminated Special Servicer with respect to any termination pursuant to this Section 3.22.
All costs and expenses of any such termination made without cause shall be paid by the Controlling Class Certificateholders.

 

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(j)          Notwithstanding
anything to the contrary contained in this Section 3.22, with respect to any Excluded Special Servicer Mortgage Loan, if
any, the Special Servicer shall resign with respect to such Excluded Special Servicer Mortgage Loan. Prior to the occurrence and
continuance of a Control Termination Event, if the Excluded Special Servicer Mortgage Loan is not also an Excluded Mortgage Loan,
the Controlling Class Representative shall appoint (and replace with or without cause) the Excluded Special Servicer, as successor
to the resigning Special Servicer, for the related Excluded Special Servicer Mortgage Loan in accordance with this Agreement. If
such Excluded Special Servicer Mortgage Loan is also an Excluded Mortgage Loan, (1) the largest Controlling Class Certificateholder
(by Certificate Balance) that is not an Excluded Controlling Class Holder shall appoint (and replace with or without cause) the
Excluded Special Servicer for the related Excluded Special Servicer Mortgage in accordance with this Agreement or (2) if no Controlling
Class Certificateholder is not an Excluded Controlling Class Holder, then the Excluded Special Servicer will be appointed pursuant
to the following paragraph below. If a Control Termination Event has occurred and is continuing and prior to a Consultation Termination
Event, the largest Controlling Class Certificateholder that is not an Excluded Controlling Class Certificateholder shall have the
right to appoint the Excluded Special Servicer. If a Control Termination Event has occurred and is continuing, neither the Controlling
Class Representative nor any other Controlling Class Certificateholder shall be entitled to remove or replace the Excluded Special
Servicer with respect to any Excluded Special Servicer Mortgage Loan.

If a Consultation
Termination Event has occurred and is continuing, upon resignation of the Special Servicer with respect to an Excluded Special
Servicer Mortgage Loan, at the expense of the Issuing Entity, the Certificate Administrator shall promptly provide written notice
of such resignation to all Certificateholders by posting such notice on the Certificate Administrator’s Website and the Excluded
Special Servicer shall be appointed upon the written direction of more than 50% of the Voting Rights of the Certificates that exercise
their right to vote (provided that holders of at least 20% of the Voting Rights of the Certificates exercise their right to vote).
If such Excluded Special Servicer has not been appointed pursuant to the preceding sentence within 30 days after the Special Servicer
has provided its written notice of resignation, the Certificate Administrator shall provide written notice to the resigning Special
Servicer that such Excluded Special Servicer has not been appointed and such resigning Special Servicer shall appoint such Excluded
Special Servicer.

If at any time the
Special Servicer that had acted as the Special Servicer for a Excluded Special Servicer Mortgage Loan prior to it becoming a Excluded
Special Servicer Mortgage Loan has knowledge that it is no longer a Borrower Party (including, without limitation, as a result
of the related Mortgaged Property becoming REO Property) with respect to an Excluded Special Servicer Mortgage Loan, (1) the related
Excluded Special Servicer shall resign, (2) the related Mortgage Loan shall no longer be an Excluded Special Servicer Mortgage
Loan, (3) such Special Servicer shall become the Special Servicer again for such related Mortgage Loan and (4) such original Special
Servicer shall be entitled to all special servicing compensation with respect to such Mortgage Loan earned during such time on
and after such Mortgage Loan is no longer an Excluded Special Servicer Mortgage Loan.

 

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The Excluded Special
Servicer shall perform all of the obligations of the Special Servicer for the related Excluded Special Servicer Mortgage Loan and
will be entitled to all special servicing compensation with respect to such Excluded Special Servicer Mortgage Loan earned during
such time as the related Mortgage Loan is an Excluded Special Servicer Mortgage Loan, and CWCapital Asset Management LLC shall
be entitled to all other special servicer compensation.

If a Servicing Officer
or Special Servicing Officer, as applicable, of the Master Servicer, a related Excluded Special Servicer, or the Special Servicer,
as applicable, has actual knowledge that a Mortgage Loan is no longer an Excluded Mortgage Loan, an Excluded Controlling Class
Mortgage Loan or an Excluded Special Servicer Mortgage Loan, as applicable, the Master Servicer, the related Excluded Special Servicer
or Special Servicer, as applicable, shall provide prompt written notice thereof to each of the other parties to this Agreement.

Section 3.23          Transfer
of Servicing Between the Master Servicer and the Special Servicer; Record Keeping; Asset Status Report.   (a)   Upon the occurrence
of any event specified in the definition of Specially Serviced Loan with respect to any Mortgage Loan (other than any Non-Serviced
Mortgage Loan) or Serviced Loan Combination of which the Master Servicer may have notice, the Master Servicer shall promptly give
notice thereof to the Special Servicer, the Certificate Administrator, the Trustee, the Operating Advisor, the related Mortgage
Loan Seller, if no Consultation Termination Event has occurred and is continuing, the Directing Holder and, if applicable, the
related Serviced Companion Loan Noteholders and shall use efforts in accordance with the Servicing Standard to provide the Special
Servicer with all information, documents (but excluding the original documents constituting the Mortgage File) and records (including
records stored electronically) relating to such Mortgage Loan or Serviced Loan Combination, as applicable, and reasonably requested
by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a sub-servicer.
The Master Servicer shall use efforts in accordance with the Servicing Standard to comply with the preceding sentence within five
Business Days of the date it has notice of the occurrence of any event specified in the definition of Specially Serviced Loan and
in any event shall continue to act as Master Servicer and administrator of such Mortgage Loan or Serviced Loan Combination until
the Special Servicer has commenced the servicing of such Mortgage Loan or Serviced Loan Combination, which shall occur upon the
receipt by the Special Servicer of the information, documents and records referred to in the preceding sentence. With respect to
each Mortgage Loan or Serviced Loan Combination that becomes a Specially Serviced Loan, the Master Servicer shall instruct the
related Borrower to continue to remit all payments in respect of such Mortgage Loan or Serviced Loan Combination to the Master
Servicer. The Master Servicer shall forward any notices it would otherwise send to the Borrower of a Specially Serviced Loan to
the Special Servicer, who shall send such notice to the related Borrower.

Upon determining that
a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall immediately give notice thereof to the
Master Servicer, and upon giving such notice, such Mortgage Loan or Serviced Loan Combination shall cease to be a Specially Serviced
Loan in accordance with the first proviso of the

 

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definition of Specially Serviced Loan, the Special Servicer’s obligation
to service such Mortgage Loan or Serviced Loan Combination shall terminate and the obligations of the Master Servicer to service
and administer such Mortgage Loan or Serviced Loan Combination as a Mortgage Loan or Serviced Loan Combination that is not a Specially
Serviced Loan shall resume.

(b)          In servicing
any Specially Serviced Loan, the Special Servicer shall provide to the Custodian originals of documents included within the definition
of “Mortgage File” for inclusion in the related Mortgage File (to the extent such documents are in the possession of
the Special Servicer) and copies of any additional related Mortgage Loan information, including correspondence with the related
Borrower, and the Special Servicer shall promptly provide copies of all of the foregoing to the Master Servicer as well as copies
of any analysis or internal review prepared by or for the benefit of the Special Servicer.

(c)          Not later than
two Business Days preceding each date on which the Master Servicer is required to furnish a report under Section 3.13(a) of this
Agreement to the Certificate Administrator, the Special Servicer shall deliver to the Certificate Administrator, with a copy to
the Trustee, the Operating Advisor and the Master Servicer, a written statement describing, on a loan-by-loan basis, (i) the amount
of all payments on account of interest received on each Specially Serviced Loan, the amount of all payments on account of principal,
including Principal Prepayments, on each Specially Serviced Loan, the amount of Net Insurance Proceeds and Net Liquidation Proceeds
received with respect to each Specially Serviced Loan, and with respect to REO Properties, the amount of net income or net loss,
as determined from management of a trade or business on, the furnishing or rendering of a non-customary service to the tenants
of, or the receipt of any rental income that does not constitute Rents from Real Property with respect to the Serviced REO Property
relating to each applicable Specially Serviced Loan, in each case in accordance with Section 3.15 of this Agreement (it being understood
and agreed that to the extent this information is provided in accordance with Section 3.13(g) of this Agreement, this Section 3.23(c)
shall be deemed to be satisfied) and (ii) such additional information relating to the Specially Serviced Loans as the Master Servicer,
the Certificate Administrator or the Trustee reasonably request, to enable it to perform its duties under this Agreement. Such
statement and information shall be furnished to the Master Servicer in writing and/or in such electronic media as is acceptable
to the Master Servicer.

(d)          Notwithstanding
the provisions of the preceding Section 3.23(c), the Master Servicer shall maintain ongoing payment records with respect to each
of the Specially Serviced Loans relating to a Mortgage Loan that it is servicing and shall provide the Special Servicer and the
Operating Advisor with any information reasonably required by the Special Servicer or the Operating Advisor to perform its duties
under this Agreement. The Special Servicer shall provide the Master Servicer with any information reasonably required by the Master
Servicer to perform its duties under this Agreement.

(e)          No later than
30 days after servicing of a Mortgage Loan or Serviced Loan Combination that becomes a Specially Serviced Loan is transferred to
the Special Servicer, the Special Servicer shall deliver to the Master Servicer, the Directing Holder (only if no Consultation
Termination Event has occurred and is continuing), the Operating Advisor (but only if a Control Termination Event has occurred
and is continuing), the Controlling Class

 

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Representative (so long as such Mortgage Loan is not an Excluded Mortgage Loan), the
17g-5 Information Provider (who shall promptly post such report to the 17g-5 Information Provider’s Website pursuant to Section
3.14(d) of this Agreement), each related Serviced Companion Loan Noteholder pursuant to the related Intercreditor Agreement, and
upon request, the Underwriters and the Initial Purchasers, a report (the “Asset Status Report”) with respect
to such Mortgage Loan or Serviced Loan Combination and the related Mortgaged Property; provided, the Special Servicer shall
not be required to deliver an Asset Status Report to the Directing Holder if the Special Servicer and the Directing Holder are
the same entity or Affiliates of each other. Such Asset Status Report shall set forth the following information to the extent reasonably
determinable:

(i)           date
of transfer of servicing of such Mortgage Loan or Serviced Loan Combination to the Special Servicer;

(ii)          summary
of the status of such Specially Serviced Loan and any negotiations with the related Borrower;

(iii)         a
discussion of the legal and environmental considerations reasonably known to the Special Servicer, consistent with the Servicing
Standard, that are applicable to the exercise of remedies as aforesaid and to the enforcement of any related guaranties or other
collateral for the related Mortgage Loan or Serviced Loan Combination and whether outside legal counsel has been retained;

(iv)         the
most current rent roll and income or operating statement available for the related Mortgaged Property;

(v)          (A)
the Special Servicer’s recommendations on how such Specially Serviced Loan might be returned to performing status (including
the modification of a monetary term, and any workout, restructure or debt forgiveness) and returned to the Master Servicer for
regular servicing or foreclosed or otherwise realized upon (including any proposed sale of a Defaulted Mortgage Loan or Serviced
REO Property), (B) a description of any such proposed or taken actions, and (C) the alternative courses of action that were or
are being considered by the Special Servicer in connection with the proposed or taken actions;

(vi)         the
status of any foreclosure actions or other proceedings undertaken with respect thereto, any proposed workouts with respect thereto
and the status of any negotiations with respect to such workouts, and an assessment of the likelihood of additional defaults under
the related Mortgage Loan or Serviced Loan Combination;

(vii)        a
description of any amendment, modification or waiver of a material term of any ground lease (or, with respect to a leasehold interest
where the Borrower is the lessee and that is a space lease or an air rights lease, any such space lease or air rights lease) or
franchise agreement;

(viii)       the
decision that the Special Servicer made, or intends or proposes to make, including a narrative analysis setting forth the Special
Servicer’s rationale for its proposed decision, including its rejection of the alternatives;

 

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(ix)          an
analysis of whether or not taking such proposed action is reasonably likely to produce a greater recovery on a present value basis
than not taking such action, setting forth (x) the basis on which the Special Servicer made such determination and (y) the net
present value calculation (including the applicable Calculation Rate used) and all related assumptions;

(x)           the
appraised value of the related Mortgaged Properties together with the assumptions used in the calculation thereof, and a copy of
the last obtained Appraisal of the Mortgaged Property; and

(xi)         such
other information as the Special Servicer deems relevant in light of the Servicing Standard.

For so long as no
Control Termination Event has occurred and is continuing, if within 10 Business Days of receiving an Asset Status Report, the Directing
Holder does not disapprove such Asset Status Report in writing, the Directing Holder will be deemed to have approved such Asset
Status Report and the Special Servicer shall implement the recommended action as outlined in such Asset Status Report; provided,
that such Special Servicer may not take any action that is contrary to applicable law, this Agreement, the Servicing Standard (taking
into consideration the best interests of all the Certificateholders and, with respect to any Serviced Loan Combination, the related
Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders and, if applicable, Serviced Companion
Loan Noteholders constituted a single lender (and with respect to any Serviced Loan Combination with a related Subordinate Companion
Loan, taking into account the subordinate nature of such Subordinate Companion Loan))), the terms of the applicable Loan Documents
or any related Intercreditor Agreement. For so long as no Control Termination Event has occurred and is continuing, if the Directing
Holder disapproves such Asset Status Report within such 10 Business Day period, the Special Servicer will revise such Asset Status
Report and deliver to the Directing Holder, the Master Servicer, the 17g-5 Information Provider (who shall promptly post such report
to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement) and each related Serviced Companion
Loan Noteholder, a new Asset Status Report as soon as practicable, but in no event later than 30 Business Days after such disapproval.
For so long as a Control Termination Event has not occurred and is not continuing, the Special Servicer shall revise such Asset
Status Report as described above in this Section 3.23(d) until the Directing Holder fails to disapprove such revised Asset Status
Report in writing within 10 Business Days of receiving such revised Asset Status Report or until the Special Servicer makes a determination
consistent with the Servicing Standard, that such objection is not in the best interests of all the Certificateholders and, with
respect to any Serviced Loan Combination, the related Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders
and, if applicable, Serviced Companion Loan Noteholders constituted a single lender (and with respect to any Serviced Loan Combination
with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan)). In
any event, for so long as no Control Termination Event has occurred and is continuing, if the Directing Holder does not approve
an Asset Status Report within 60 Business Days from the first submission of an Asset Status Report, the Special Servicer may act
upon the most recently submitted form of Asset Status Report if consistent with the

 

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Servicing Standard. The Special Servicer may,
from time to time, modify any Asset Status Report it has previously delivered and implement such report, provided such report
shall have been prepared, reviewed and not rejected pursuant to the terms of this Section, and in particular, shall modify and
resubmit such Asset Status Report to the Directing Holder (with a copy to the Trustee and the Certificate Administrator) if (i)
the estimated sales proceeds, foreclosure proceeds, workout or restructure terms or anticipated debt forgiveness varies materially
from the amount on which the original report was based or (ii) the related Borrower becomes the subject of bankruptcy proceedings.
Notwithstanding the foregoing, the Special Servicer (i) may, following the occurrence of an extraordinary event with respect to
the related Mortgaged Property, take any action set forth in such Asset Status Report before the expiration of a 10 Business Day
period if the Special Servicer has reasonably determined that failure to take such action would materially and adversely affect
the interests of the Certificateholders and, with respect to any Serviced Loan Combination, the related Serviced Companion Loan
Noteholders (as a collective whole as if such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted
a single lender (and with respect to any Serviced Loan Combination with a related Subordinate Companion Loan, taking into account
the subordinate nature of such Subordinate Companion Loan)), and it has made a reasonable effort to contact the Directing Holder
and, if any Serviced Loan Combination is involved, the related Serviced Companion Loan Noteholders and (ii) in any case, shall
determine whether such affirmative disapproval is not in the best interests of all the Certificateholders and, with respect to
any Serviced Loan Combination, the related Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders
and, if applicable, Serviced Companion Loan Noteholders constituted a single lender (and with respect to any Serviced Loan Combination
with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan)) pursuant
to the Servicing Standard, and, upon making such determination, shall implement the recommended action outlined in the Asset Status
Report. The Asset Status Report is not intended to replace or satisfy any specific consent or approval right which the Directing
Holder may have. Any Asset Status Report delivered with respect to an Excluded Controlling Class Mortgage Loan shall be sent via
email (or such other electronic means mutually acceptable to the parties) in one or more separate files labeled by the Special
Servicer “Excluded Information” followed by the applicable loan number and loan name to cmbsexcludedinformation@wellsfargo.com.

The Special Servicer
shall have the authority to meet with the Borrower for any Specially Serviced Loan and take such actions consistent with the Servicing
Standard and the related Asset Status Report. The Special Servicer shall not take any action inconsistent with the related Asset
Status Report, unless such action would be required in order to act in accordance with the Servicing Standard, this Agreement,
applicable law or the related Loan Documents.

During the period
when a Control Termination Event has occurred and is continuing, the Special Servicer shall consult on a non-binding basis with
the Operating Advisor in connection with each Asset Status Report prior to finalizing and executing such Asset Status Report and
the Operating Advisor shall propose, by written notice, alternative courses of action within 10 days of receipt of each Asset Status
Report to the extent the Operating Advisor determines such alternatives to be in the best interest of the Certificateholders (including
any Certificateholders that were previously included in the Control

 

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Eligible Classes), as a collective whole as if such Certificateholders
constituted a single lender. This determination shall be made pursuant to the Operating Advisor Standard. The Special Servicer
shall consider any such proposals from the Operating Advisor and determine whether any changes to its proposed Asset Status Report
should be made, such determination being made in accordance with the Servicing Standard and the other terms of this Agreement.
In addition, with respect to a Serviced Loan Combination, such Asset Status Reports are subject to any consultation rights that
the holders of the related Pari Passu Companion Loans have pursuant to the related Intercreditor Agreement.

During the period
when a Control Termination Event has occurred and is continuing and for so long as no Consultation Termination Event has occurred
and is continuing, the Special Servicer shall consult on a non-binding basis with the Directing Holder in connection with each
Asset Status Report prior to finalizing and executing such Asset Status Report and the Directing Holder shall have the right to
propose, by written notice, alternative courses of action within 10 days of receipt of each Asset Status Report. The Special Servicer
shall consider any such proposals from the Directing Holder and determine whether any changes to its proposed Asset Status Report
should be made, such determination being made in accordance with the Servicing Standard and the other terms of this Agreement.

If neither the Operating
Advisor nor the Directing Holder proposes alternative courses of action within 10 days after receipt of such Asset Status Report,
the Special Servicer shall implement the Asset Status Report as proposed by the Special Servicer.

Notwithstanding anything
to the contrary herein, if a Consultation Termination Event has occurred and is continuing, the Directing Holder shall have no
right to receive any Asset Status Report or otherwise consult with the Special Servicer with respect to any matter set forth therein.
If a Control Termination Event has occurred and is continuing, the Directing Holder shall have no right to consent to any Asset
Status Report under this Section 3.23.

No direction, advice,
consent, approval or disapproval of the Directing Holder or Operating Advisor shall (a) require, permit or cause the Special Servicer
to violate the terms of a Specially Serviced Loan, any related Intercreditor Agreement, applicable law or any provision of this
Agreement, including, but not limited to, Section 3.09, Section 3.16, Section 3.18 and Section 3.25 and the Special Servicer’s
obligation to act in accordance with the Servicing Standard and to maintain the REMIC status of the Lower-Tier REMIC and the Upper-Tier
REMIC and the grantor trust status of the Grantor Trust, or (b) result in the imposition of a “prohibited transaction”
or “contribution” tax under the REMIC Provisions, or (c) expose the Master Servicer, the Special Servicer, the Depositor,
the Mortgage Loan Sellers, the Trust Fund, the Certificate Administrator, the Paying Agent, the Operating Advisor, the Trustee
or their respective officers, directors, employees or agents to any claim, suit or liability or (d) materially expand the scope
of the Special Servicer’s, Certificate Administrator’s, Trustee’s or the Master Servicer’s responsibilities
under this Agreement. The Special Servicer shall not be required to follow any direction of the Directing Holder described in this
paragraph.

(f)          Unless a Control
Termination Event has occurred and is continuing, the Special Servicer shall deliver to the Operating Advisor only each Final Asset
Status Report.

 

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Section 3.24     Special
Instructions for the Master Servicer and/or Special Servicer.   (a)   Prior to taking any action with respect to a Mortgage
Loan or a Serviced Loan Combination secured by Mortgaged Properties located in a “one-action” state, the Master
Servicer or Special Servicer, as applicable, shall consult with legal counsel, the fees and expenses of which shall be an
expense of the Trust Fund (and, in the case of any Serviced Loan Combination, such expense shall be allocated in accordance
with the allocation provisions of the related Intercreditor Agreement).

 

(b)        The
Master Servicer shall send written notice to each Borrower (other than with respect to a Non-Serviced Mortgage Loan) and the related
Manager and clearing bank relating to a Mortgage Loan (other than any Non-Serviced Mortgage Loan) that it is servicing that, if
applicable, it and/or the Trustee has been appointed as the “Designee” of the “Lender” under any related
Lock-Box Agreement.

 

(c)        Without
limiting the obligations of the Master Servicer hereunder with respect to the enforcement of a Borrower’s obligations under
the related Loan Documents, the Master Servicer agrees that it shall, in accordance with the Servicing Standard, enforce the provisions
of the Loan Documents relating to the Mortgage Loans (other than Non-Serviced Mortgage Loans) that it is servicing with respect
to the collection of Prepayment Premiums and Yield Maintenance Charges.

 

(d)        If
a Rating Agency shall charge a fee in connection with providing a No Downgrade Confirmation, the Master Servicer shall require
the related Borrower (other than with respect to a Non-Serviced Mortgage Loan) to pay such fee to the extent not inconsistent with
the applicable Loan Documents. If such fee remains unpaid, such fee shall be an expense of the Trust Fund (allocated as an Additional
Trust Fund Expense in the same manner as Realized Losses as set forth in Section 4.01(e) of this Agreement) and, in the
case of a Serviced Loan Combination with a Serviced Pari Passu Companion Loan (but not a Subordinate Companion Loan), allocated
in accordance with the allocation provisions of the related Intercreditor Agreement, the costs of which may be advanced as a Property
Advance.

 

(e)        The
Master Servicer shall, in accordance with the Servicing Standard, enforce the right of the Trust to recover any amounts owed by
the Serviced Companion Loan Noteholders to the Trust Fund pursuant to the related Intercreditor Agreement (but in the case of any
Serviced Subordinate Companion Loan, subject to Section 1.02). The cost of such enforcement on behalf of the Trust shall be paid
and reimbursable as a Property Advance.

 

(f)        With
respect to a Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination with a Stated Principal
Balance equal to or greater than the lesser of 5% of the Stated Principal Balance of all Mortgage Loans held by the Trust
Fund and $35,000,000, or with respect to any Mortgage Loan that is one of the ten largest Mortgage Loans based on Stated
Principal Balance, to the extent not inconsistent with the related Mortgage Loan or Serviced Loan Combination, the Master
Servicer shall not consent to a change of franchise affiliation with respect to a Mortgaged Property (other than a Mortgaged
Property securing a Non-Serviced Mortgage Loan) serviced hereunder or the property manager with respect to a Mortgaged
Property (other than a Mortgaged Property securing a Non-

 

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Serviced Mortgage Loan) serviced hereunder unless the Master Servicer obtains a No Downgrade Confirmation relating to the
Certificates and Serviced Companion Loan Securities, if any.

 

Section 3.25     Certain
Rights and Obligations of the Master Servicer and/or the Special Servicer.   (a)   In addition to its rights and obligations
with respect to Specially Serviced Loans, the Special Servicer has the right, whether or not the applicable Mortgage Loan
(other than a Non-Serviced Mortgage Loan) is a Specially Serviced Loan, to approve (i) certain modifications to the extent
described under Section 3.26 of this Agreement and (ii) certain waivers of due-on-sale or due-on-encumbrance clauses as
described under Section 3.09 of this Agreement. With respect to Performing Loans (other than Non-Serviced Mortgage Loans),
the Master Servicer shall notify the Special Servicer of any request for approval (a “Request for
Approval”) received relating to the Special Servicer’s above-referenced approval rights and forward to the
Special Servicer its written recommendation and analysis and any other information or documents reasonably requested by the
Special Servicer (to the extent such information or documents are in the Master Servicer’s possession). Subject to
Section 3.09(h) of this Agreement, the Special Servicer shall have 15 Business Days (from the date that the Special Servicer
receives the information it requested from the Master Servicer) to analyze and make a recommendation with respect to a
Request for Approval with respect to a Performing Loan and, prior to the end of such 15 Business Day period, for so long as
no Control Termination Event has occurred and is continuing, is required to notify the Directing Holder and each Serviced
Companion Loan Noteholder of such Request for Approval and its recommendation with respect thereto. Following such notice,
the Directing Holder shall have 10 Business Days from the date it receives the Special Servicer recommendation and any other
information it may reasonably request (or, with respect to any Serviced Loan Combination, such longer time period as may be
provided in the related Intercreditor Agreement) to approve any recommendation of the Special Servicer relating to any
Request for Approval. In any event, if the Directing Holder does not respond to a Request for Approval by 5 p.m. on the 10th
Business Day after such request, the Special Servicer or the Master Servicer, as applicable, may deem its
recommendation approved by the Directing Holder and if the Special Servicer does not respond to a Request for Approval within
the required 15 Business Days (or such longer time period pursuant to the terms of the related Intercreditor Agreement but
not less than five (5) Business Days after the time period set forth therein for Directing Holder approval), the Master
Servicer may deem its recommendation approved by the Special Servicer. With respect to a Specially Serviced Loan, the Special
Servicer must notify the Directing Holder of any Request for Approval received relating to the Directing Holder’s
above-referenced approval rights and its recommendation with respect thereto. The Directing Holder shall have 10 Business
Days (after receipt of all information reasonably requested) to approve any recommendation of the Special Servicer relating
to any such Request for Approval. In any event, if the Directing Holder does not respond to any such Request for Approval by
5 p.m. on the 10th Business Day after such request, the Special Servicer may deem its recommendation approved by the
Directing Holder. Notwithstanding the foregoing, (i) with respect to any Loan Combination, the procedure and timing for
approval by the Directing Holder (to the extent it is the related Companion Loan Noteholder) of the related Request for
Approval shall be governed by the terms of the related Intercreditor Agreement and (ii) if the Special Servicer determines
that immediate action is necessary to protect the interests of the Certificateholders and, with respect to any Serviced Loan

 

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Combination, the Certificateholders and the related Serviced Companion Loan Noteholders (as a collective whole as if
such Certificateholders and, if applicable, Serviced Companion Loan Noteholders constituted a single lender (and with respect
to any Serviced Loan Combination with a related Subordinate Companion Loan, taking into account the subordinate nature of
such Subordinate Companion Loan)) and the Special Servicer has made a reasonable effort to contact the Directing Holder, it
need not wait for a response from the Directing Holder.

 

(b)        Notwithstanding
any other provision of this Agreement, neither the Master Servicer nor the Special Servicer shall be required to take or refrain
from taking any action pursuant to instructions from the Directing Holder or any holder of a Companion Loan, or due to any failure
to approve an action by the Directing Holder, or due to any objection by the Directing Holder or any holder of a Companion Loan
that would (i) cause any one of them to violate applicable law, the terms of any Loan Documents, any Intercreditor Agreement, this
Agreement, including the Servicing Standard, or the REMIC Provisions, (ii) expose the Master Servicer, the Special Servicer, the
Depositor, the Paying Agent, a Mortgage Loan Seller, the Trust Fund, the Operating Advisor, the Trustee, the Certificate Administrator
(in any of its capacities), or the Custodian or their respective Affiliates, officers, directors, employees or agents to any claim,
suit or liability, (iii) materially expand the scope of the Master Servicer’s or the Special Servicer’s responsibilities,
or (iv) cause the Master Servicer or the Special Servicer to act, or fail to act, in a manner that is not in the best interests
of the Certificateholders.

 

(c)        The
Master Servicer and the Special Servicer, as applicable, shall discuss with the Directing Holder, on a monthly basis, the performance
of any Mortgage Loan or Serviced Loan Combination that is a Specially Serviced Loan, which is delinquent, has been placed on a
“Watch List” or has been identified by the Master Servicer or the Special Servicer as exhibiting deteriorating performance.

 

Section 3.26     Modification,
Waiver, Amendment and Consents.  (a)   Subject to Sections 3.25, 3.26(f) and 3.27, and, if applicable, each Intercreditor Agreement,
(i) with respect to any Mortgage Loan or Serviced Loan Combination that is not a Specially Serviced Loan, the Master Servicer
(subject to the Special Servicer’s consent, as provided in Section 3.09 and Section 3.26(m)) or (ii) with respect to any
Specially Serviced Loan, the Special Servicer, in each case subject to the rights of the Directing Holder and consultation with
the Operating Advisor (if no Control Termination Event has occurred and is continuing and to the extent the Operating Advisor
has consultation rights pursuant to Section 3.23(e), Section 3.31 and Section 6.07 of this Agreement), may modify, waive or amend
any term of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) or Serviced Loan Combination if such modification, waiver
or amendment (A) is consistent with the Servicing Standard and (B) would not constitute a “significant modification”
of such Mortgage Loan or Serviced Loan Combination pursuant to Treasury Regulations Section 1.860G-2(b) and would not otherwise
(1) cause either Trust REMIC to fail to qualify as a REMIC or (2) result in the imposition of a tax upon either Trust REMIC or
the Trust Fund (including but not limited to the tax on “prohibited transactions” as defined in Section 860F(a)(2)
of the Code and the tax on contributions to a REMIC set forth in Section 860G(d) of the Code, but not including the tax on “net
income from foreclosure property” under Section 860G(c) of the Code). Each of the Master Servicer and the Special Servicer
may conclusively rely on an Opinion of Counsel in

 

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meeting this requirement. In connection with (i) the release of a Mortgaged
Property or any portion of a Mortgaged Property from the lien of the related Mortgage or (ii) the taking of a Mortgaged Property
or any portion of a Mortgaged Property by exercise of the power of eminent domain or condemnation, if the Loan Documents require
the lender (or the Master Servicer or the Special Servicer, as applicable) to calculate (or to approve the calculation of the
related Borrower of) the loan-to-value ratio of the remaining Mortgaged Property or Mortgaged Properties or the fair market value
of the real property constituting the remaining Mortgaged Property or Mortgaged Properties, for purposes of REMIC qualification
of the related Mortgage Loan or Serviced Loan Combination, then such calculation shall exclude the value of any personal property
and going concern value, if any. If, following any such release or taking, the loan-to-value ratio as so calculated is greater
than 125%, the Master Servicer or Special Servicer, as applicable, shall require payment of principal by a “qualified amount”
as determined under Revenue Procedure 2010-30 or successor provisions, unless the related Borrower provides an Opinion of Counsel
that if such amount is not paid the related Mortgage Loan will not fail to be a Qualified Mortgage.

 

(b)        Neither
the Master Servicer nor the Special Servicer may extend the Maturity Date of any Mortgage Loan, Serviced Loan Combination or Specially
Serviced Loan beyond the date that is the date occurring later than the earlier of (1) five years prior to the Rated Final Distribution
Date and (2) in the case of a Mortgage Loan, Serviced Loan Combination or Specially Serviced Loan secured solely or primarily by
the related Borrower’s interest in a ground lease (or, with respect to a leasehold interest where the Borrower is the lessee
and that is a space lease or an air rights lease, such space lease or air rights lease), the date that is 20 years prior to the
expiration date of such ground lease (or, with respect to a leasehold interest where the Borrower is the lessee and that is a space
lease or an air rights lease, such space lease or air rights lease) (or 10 years prior to the expiration date of such lease if
the Master Servicer or the Special Servicer, as applicable gives due consideration to the remaining term of such ground lease (or,
with respect to a leasehold interest where the Borrower is the lessee and that is a space lease or an air rights lease, such space
lease or air rights lease) and such extension is in the best interest of the Certificateholders and, with respect to a Serviced
Loan Combination, the related Serviced Companion Loan Noteholder (as a collective whole as if such Certificateholders and (with
respect to a Serviced Loan Combination) Serviced Companion Loan Noteholder constituted a single lender (and with respect to any
Serviced Loan Combination with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate
Companion Loan)) and, if no Control Termination Event has occurred and is continuing, with the consent of the Directing Holder.

 

(c)        Neither
the Master Servicer nor the Special Servicer shall permit any Borrower to add or substitute any collateral for an outstanding Mortgage
Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination, which collateral constitutes real property, unless
the Master Servicer or the Special Servicer, as applicable, shall have obtained a No Downgrade Confirmation relating to the Certificates
and Serviced Companion Loan Securities, if any.

 

(d)        Any
payment of interest, which is deferred pursuant to any modification, waiver or amendment permitted hereunder, shall not, for purposes
hereof, including, without limitation, calculating monthly distributions to Certificateholders or, if applicable, Serviced

 

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Companion
Loan Noteholders, be added to the unpaid principal balance of the related Mortgage Loan or Serviced Loan Combination, notwithstanding
that the terms of such Mortgage Loan or Serviced Loan Combination or such modification, waiver or amendment so permit.

 

(e)        Except
for waivers of Penalty Charges and waivers of notice periods, all material modifications, waivers and amendments of the Mortgage
Loans (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combinations in accordance with this Section 3.26 or in Section
3.27 of this Agreement (with respect to Serviced Loan Combinations) shall be in writing.

 

(f)        The
Master Servicer or the Special Servicer, as applicable, shall notify the Trustee, the Certificate Administrator, the Directing
Holder (other than if a Consultation Termination Event has occurred and is continuing), the Operating Advisor (only if a Control
Termination Event has occurred and is continuing), the Depositor, the related Serviced Companion Loan Noteholder (if any) and the
17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section
3.14(d) of this Agreement), in writing, of any modification, waiver, material consent or amendment of any term of any Mortgage
Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination and the date thereof, and shall deliver to the Custodian
for deposit in the related Mortgage File, an original counterpart of the agreement relating to such modification, waiver, material
consent or amendment, promptly (and in any event within 10 Business Days) following the execution thereof.

 

(g)        The
Master Servicer or the Special Servicer may (subject to the Servicing Standard), as a condition to granting any request by a Borrower
for consent, modification, waiver or indulgence or any other matter or thing, the granting of which is within its discretion pursuant
to the terms of the instruments evidencing or securing the related Mortgage Loan or Serviced Loan Combination and is permitted
by the terms of this Agreement and applicable law, require that such Borrower pay to it (i) as additional servicing compensation,
a reasonable and customary fee for the additional services performed in connection with such request (provided that the
charging of such fee would not constitute a “significant modification” of the related Mortgage Loan or Serviced Loan
Combination within the meaning of Treasury Regulations Section 1.860G-2(b)), and (ii) any related costs and expenses incurred by
it. In no event shall the Master Servicer or the Special Servicer be entitled to payment for such fees or expenses unless such
payment is collected from the related Borrower.

 

(h)        Notwithstanding
the foregoing, the Master Servicer shall not permit the substitution of any Mortgaged Property pursuant to the defeasance provisions
of any Mortgage Loan or Serviced Loan Combination (or any portion thereof), if any, unless such defeasance complies with Treasury
Regulations Section 1.860G-2(a)(8) and satisfies the conditions set forth in Section 3.09(g) of this Agreement.

 

(i)        Notwithstanding
anything herein or in the related Loan Documents to the contrary, the Master Servicer may permit the substitution of direct, non-callable
“government securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, or

 

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any other
securities that comply with Treasury Regulations Section 1.860G-2(a)(8)(ii) (including U.S. government agency securities if such
securities are eligible defeasance collateral under then current guidelines of the Rating Agencies) for any Mortgaged Property
pursuant to the defeasance provisions of any Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced Loan Combination
(or any portion thereof) in lieu of the defeasance collateral specified in the related Loan Documents; provided that, the
Master Servicer reasonably determines that allowing their use would not cause a default or event of default under the related Loan
Documents to become reasonably foreseeable and the Master Servicer receives an Opinion of Counsel (at the expense of the Borrower
to the extent permitted under the Loan Documents) to the effect that such use would not be and would not constitute a “significant
modification” of such Mortgage Loan or Serviced Loan Combination pursuant to Treasury Regulations Section 1.860G-2(b) and
would not otherwise endanger the status of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or result in the imposition
of a tax upon the Lower-Tier REMIC, the Upper-Tier REMIC or the Trust Fund (including but not limited to the tax on “prohibited
transactions” as defined in Section 860F(a)(2) of the Code and the tax on contributions to a REMIC set forth in Section 860G(d)
of the Code, but not including the tax on “net income from foreclosure property”) and provided, that the requirements
set forth in Section 3.09(g) of this Agreement are satisfied.

 

(j)        If
required under the related Loan Documents or if otherwise consistent with the Servicing Standard, the Master Servicer shall establish
and maintain one or more accounts, which may be sub-accounts of the Collection Account (the “Defeasance Accounts”),
into which all payments received by the Master Servicer from any defeasance collateral substituted for any Mortgaged Property shall
be deposited and retained, and shall administer such Defeasance Accounts in accordance with the Loan Documents. Each Defeasance
Account shall at all times be an Eligible Account. Notwithstanding the foregoing, in no event shall the Master Servicer permit
such amounts to be maintained in the Defeasance Account for a period in excess of 12 months, unless such amounts are reinvested
by the Master Servicer in “government securities” within the meaning of Section 2(a)(16) of the Investment Company
Act of 1940, or any other securities that comply with Treasury Regulations Section 1.860G-2(a)(8)(ii). To the extent not required
or permitted to be placed in a separate account, the Master Servicer shall deposit all payments received by it from defeasance
collateral substituted for any Mortgaged Property into the Collection Account or, if a Serviced Loan Combination is involved, the
Serviced Loan Combination Collection Account and treat any such payments as payments made on the Mortgage Loan or Serviced Loan
Combination, as applicable, in advance of its Due Date in accordance with clause (a) of the definition of Principal Distribution
Amount, and not as a prepayment of the related Mortgage Loan or Serviced Loan Combination. Notwithstanding anything herein to the
contrary, in no event shall the Master Servicer permit such amounts to be maintained in the Collection Account or, if a Serviced
Loan Combination is involved, the Serviced Loan Combination Collection Account for a period in excess of 365 days.

 

(k)        Any
right to take any action, grant or withhold any consent or otherwise exercise any right, election or remedy afforded the Directing
Holder under this Agreement may, unless otherwise expressly provided herein to the contrary, be affirmatively waived by the Directing
Holder by written notice given to the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer, as applicable.
Upon delivery of any such notice of

 

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waiver given by the Directing Holder, any time period (exclusive or otherwise) afforded the
Directing Holder to exercise any such right, make any such election or grant or withhold any such consent shall thereupon be deemed
to have expired with the same force and effect as if the specific time period set forth in this Agreement applicable thereto had
itself expired. If the Master Servicer or Special Servicer determines that a refusal to consent by the Directing Holder or any
advice from the Directing Holder would cause the Master Servicer or Special Servicer, as applicable, to violate applicable law,
the terms of the applicable Loan Documents, any related Intercreditor Agreements, the REMIC Provisions or the terms of this Agreement,
including without limitation, the Servicing Standard, the Master Servicer or Special Servicer shall disregard such refusal to consent
or advice and notify the Directing Holder, the Trustee, the Certificate Administrator, the related Serviced Companion Loan Noteholder
(if any) and the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website
pursuant to Section 3.14(d) of this Agreement) of its determination, including a reasonably detailed explanation of the basis therefor.

 

(l)        Any
modification, waiver or amendment of or consents or approvals relating to a Mortgage Loan or Serviced Loan Combination that is
a Specially Serviced Loan or Serviced REO Loan (i) shall be performed by the Special Servicer and not the Master Servicer, (ii)
to the extent provided in this Agreement and/or the applicable Intercreditor Agreement, shall be subject to the consent (or consultation,
as applicable) of the related Directing Holder, and (iii) shall be structured so as to be consistent with the allocation and payment
priorities in the related Loan Documents and Intercreditor Agreement, if any, such that neither the Trust as holder of the Mortgage
Loan nor a holder of any related Serviced Companion Loan gains a priority over the other such holder that is not reflected in the
related Loan Documents and Intercreditor Agreement.

 

(m)        In
addition, with respect to a Performing Loan (other than a Non-Serviced Mortgage Loan), the Master Servicer, with respect to any
Major Decision (or making a determination not to take action with respect to a Major Decision), shall (subject to the Special Servicer’s
consent) process the request directly. The Master Servicer shall prepare and submit its written recommendation and analysis to
the Special Servicer with all information reasonably available to the Master Servicer that the Special Servicer may reasonably
request in order to withhold or grant its consent, and in all cases the Special Servicer shall be entitled (subject to the consultation
rights of the Operating Advisor or the consent or consultation rights of the Directing Holder) to approve or disapprove any modification,
waiver or amendment that constitutes a Major Decision. When the Special Servicer’s consent is required hereunder, such consent
shall be deemed given 15 Business Days, or such longer time period pursuant to the terms of the related Intercreditor Agreement
but not less than five (5) Business Days after the time period set forth therein for Directing Holder approval, (or in connection
with an Acceptable Insurance Default, 90 days) after receipt (unless earlier objected to) by the Special Servicer from the Master
Servicer of the Master Servicer’s written analysis and recommendation with respect to such proposed action together with
such other information reasonably required by the Special Servicer. With respect to all Specially Serviced Loans and Performing
Loans (other than Non-Serviced Mortgage Loans), the Special Servicer shall, prior to consenting to such a proposed action of the
Master Servicer, and prior to itself taking such an action, obtain the written consent of the related Directing Holder, which consent
shall be deemed given 10 Business Days after receipt (or in connection with an Acceptable Insurance

 

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Default, 30 days) (unless earlier
objected to) by such Directing Holder of the Master Servicer’s and/or Special Servicer’s, as applicable, written analysis
and recommendation with respect to such action together with such other information reasonably required by such Directing Holder.

 

(n)        For
any Mortgage Loan or Serviced Loan Combination (other than a Specially Serviced Loan or a Non-Serviced Mortgage Loan), subject
to the rights of the Special Servicer set forth in this Section 3.26, and further subject to the rights of the Directing Holder
and the Operating Advisor set forth herein, and, with respect to any Serviced Loan Combination, further subject to the rights of
the related Companion Loan Noteholders under the related Intercreditor Agreement, the Master Servicer, without the consent of the
Special Servicer, the Directing Holder or the Operating Advisor, as applicable, shall be responsible to determine whether to consent
to or approve any request by a Borrower with respect to:

 

(i)        approving
routine leasing activity with respect to any lease for less than the lesser of (A) 30,000 square feet and (B) 30% of the net rentable
area of the related Mortgaged Property;

 

(ii)       approving
any waiver affecting the timing of receipt of financial statements from any Borrower; provided that such financial statements
are delivered no less than quarterly and within 60 days after the end of the calendar quarter;

 

(iii)      approving
annual budgets for the related Mortgaged Property; provided that no such budget (A) provides for the payment of operating
expenses in an amount equal to more than 110% of the amounts budgeted therefor for the prior year or (B) provides for the payment
of any material expenses to any affiliate of the Borrower (other than the payment of a management fee to any property manager if
such management fee is no more than the management fee in effect on the Cut-off Date);

 

(iv)      subject
to other restrictions herein regarding Principal Prepayments, waiving any provision of a Mortgage Loan or Serviced Loan Combination
requiring a specified number of days’ notice prior to a Principal Prepayment;

 

(v)       approving
non-material modifications, consents or waivers (other than modifications, consents or waivers specifically prohibited under this
Section 3.26) in connection with a defeasance permitted by the terms of this Agreement, and subject to certain conditions, including
in certain cases, delivery of an opinion of counsel (which opinion of counsel will be an expense of the borrower) to the effect
that such modification, waiver or consent would not cause any Trust REMIC to fail to qualify as a REMIC under the Code or result
in a “prohibited transaction” under the REMIC provisions of the Code or cause the Grantor Trust to fail to qualify
as a grantor trust for federal income tax purposes;

 

(vi)      approving
consents with respect to non-material rights-of-way and non-material easements and consent to subordination of the related Mortgage
Loan or Serviced Loan Combination to such non-material rights-of-way or easements; provided, that the Master Servicer shall
have determined in accordance with the Servicing Standard that such right-of-way or easement shall not materially interfere with
the then-current use of the related Mortgaged Property or the security intended to be provided

 

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by the related Mortgage and will
not have a material adverse effect on the value of such Mortgaged Property;

 

(vii)     granting
waivers of minor covenant defaults (other than financial covenants);

 

(viii)    as
permitted under the Loan Documents, payment from any escrow or reserve or approving disbursements of any earnout or holdback amounts
in accordance with the related Loan Documents, except (1) releases of any escrows, reserve accounts or letters of credit held as
performance escrows or reserves (unless required pursuant to the specific terms of the related Mortgage Loan and for which there
is no material lender discretion) or (2) releases of earnout or holdback amounts applicable to certain Mortgage Loans identified
on Exhibit U hereto;

 

(ix)      approving
a change of the property manager at the request of the related Borrower so long as (i) the successor property manager is not affiliated
with the borrower and is a nationally or regionally recognized manager of similar properties and (ii) the subject Mortgage Loan
does not have an outstanding principal balance in excess of $2,500,000; and

 

(x)       any
non-material modifications, waivers or amendments not provided for in clauses (i) through (ix) above, which are necessary to cure
any ambiguities or to correct scrivener’s errors in the terms of the related Mortgage Loan or Serviced Loan Combination;

 

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provided, in the
case of any Serviced Loan Combination, the Master Servicer shall provide written notice of such action to the related Companion
Loan Noteholders. For the avoidance of doubt, and without limiting the generality of the foregoing, any request for the disbursement
of earnouts or holdback amounts with respect to (i) any Specially Serviced Loan shall be processed by the Special Servicer and
(ii) any Mortgage Loan listed on Exhibit U received by the Master Servicer shall be processed by the Master Servicer and
submitted to the Special Servicer for approval. For purposes of this Agreement, “disbursement of earnouts or holdback amounts”
shall mean the disbursement or funding to a Borrower of previously unfunded, escrowed or otherwise reserved portions of the loan
proceeds of the applicable Mortgage Loan until certain conditions precedent thereto relating to the satisfaction of performance-related
criteria (i.e., project reserve thresholds, lease-up requirements, sales requirements, etc.), as set forth in the applicable
loan documents, have been satisfied.

 

Notwithstanding the
foregoing, without any other approval or consent, the Master Servicer (for non-Specially Serviced Loans) or the Special Servicer
(for Specially Serviced Loans) may grant and process a Borrower’s request for (i) consent to subject the related Mortgaged
Property to an immaterial easement, right of way or similar agreement for utilities, access, parking, public improvements or another
purpose, (ii) consent to subordination of the related Mortgage Loan to such easement, right of way or similar agreement, and (iii)
consent to any other matter that is not a Major Decision. In any such case, the Master Servicer or the Special Servicer, as applicable,
will be entitled to 100% of the related fees.

 

Section 3.27
     Certain Intercreditor Matters Relating to the Serviced Loan Combinations.   (a)   With respect to Serviced
Loan Combinations, except for those duties to be performed by, and notices to be furnished by, the Trustee under this
Agreement, the Master Servicer or the Special Servicer, as applicable, shall perform such duties and furnish such notices,
reports and information on behalf of the Trust Fund as may be the obligation of the Trust, or the obligation of the master
servicer or the special servicer, as applicable, following securitization, under the related Intercreditor Agreement.

 

(b)        The
Master Servicer shall maintain a register (the “Serviced Companion Loan Noteholder Register”) on which the Master
Servicer shall record the names and addresses of the Serviced Companion Loan Noteholders and wire transfer instructions for such
Serviced Companion Loan Noteholders from time to time, to the extent such information is provided in writing to the Master Servicer
by a Serviced Companion Loan Noteholder. Each Serviced Companion Loan Noteholder has agreed to inform the Master Servicer of its
name, address, taxpayer identification number and wiring instructions (to the extent the foregoing information is not already contained
in the related Intercreditor Agreement) and of any transfer thereof (together with any instruments of transfer). The name and address
of each initial Serviced Companion Loan Noteholder as of the Closing Date is set forth on Schedule VII hereto. The Master
Servicer shall be entitled to conclusively rely upon the information delivered by any Serviced Companion Loan Noteholder including
the identity of the controlling class representative in any related Other Securitization until it receives notice of transfer or
of any change in information.

 

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In no event shall the
Master Servicer be obligated to pay any party the amounts payable to a Serviced Companion Loan Noteholder hereunder other than
the Person listed as the applicable Serviced Companion Loan Noteholder on the Serviced Companion Loan Noteholder Register. In the
event that a Serviced Companion Loan Noteholder transfers the related Serviced Companion Loan without notice to the Master Servicer,
the Master Servicer shall have no liability whatsoever for any misdirected payment on such Serviced Companion Loan and shall have
no obligation to recover and redirect such payment.

 

The Master Servicer shall
promptly provide the names and addresses of any Serviced Companion Loan Noteholder, including the identity of the controlling class
representative in any related Other Securitization, to any party hereto, any related Companion Loan Noteholder or any successor
thereto upon written request, and any such party or successor may, without further investigation, conclusively rely upon such information.
The Master Servicer shall have no liability to any Person for the provision of any such names and addresses.

 

(c)        The
Directing Holder shall not owe any fiduciary duty to the Trustee, any Master Servicer, any Special Servicer, any Certificateholder
(including the Controlling Class Representative, if applicable) or any noteholder of a Serviced Loan Combination, as applicable.
The Directing Holder will not have any liability to the Certificateholders (including the Controlling Class Representative, if
applicable) or any other noteholder of a Serviced Loan Combination, as applicable, for any action taken, or for refraining from
the taking of any action or the giving of any consent, pursuant to this Agreement, or for errors in judgment.

 

(d)        With
respect to any Serviced Loan Combination, the Directing Holder shall be entitled to exercise the consent rights, cure rights and
purchase rights, as applicable, to the extent set forth in the applicable Intercreditor Agreement, in accordance with the terms
of the related Intercreditor Agreement and this Agreement.

 

(e)        The
Special Servicer (if any Serviced Companion Loan is a Specially Serviced Loan or has become a Serviced REO Loan) or the Master
Servicer (otherwise), as applicable, shall take all actions relating to the servicing and/or administration of, and (subject to
Section 3.13 and Section 3.17 of this Agreement and the following paragraph) the preparation and delivery of reports
and other information with respect to, the Serviced Loan Combination related to any Serviced Companion Loan or any related Serviced
REO Property required to be performed by the holder of the related Mortgage Loan or contemplated to be performed by a servicer,
in any case pursuant to and as required by each related Intercreditor Agreement and/or any related mezzanine intercreditor agreement
existing on the Closing Date and any related Intercreditor Agreement or mezzanine intercreditor agreement not existing on the Closing
Date that is provided to the Master Servicer or Special Servicer, as applicable. In addition notwithstanding anything herein to
the contrary, the following considerations shall apply with respect to the servicing of a Serviced Companion Loan:

 

(i)        none
of the Master Servicer, the Special Servicer or the Trustee shall make any P&I Advance with respect to the Serviced Companion
Loan; and

 

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(ii)       the
Master Servicer and the Special Servicer shall each consult with and obtain the consent of the related Serviced Companion Loan
Noteholder(s) to the extent required by the related Intercreditor Agreement.

 

The Master Servicer or
Special Servicer, as applicable, shall timely provide to each related Serviced Companion Loan Noteholder any reports or notices
required to be delivered to such Serviced Companion Loan Noteholder pursuant to the related Intercreditor Agreement, and the Special
Servicer shall reasonably cooperate with the Master Servicer and the Master Servicer shall reasonably cooperate with the Special
Servicer in preparing/delivering any such report or notice with respect to special servicing matters.

 

If any Serviced Companion
Loan or any portion thereof or any particular payments thereon are included in a REMIC or a “grantor trust” (within
the meaning of the Grantor Trust Provisions), then neither the Master Servicer nor the Special Servicer shall knowingly take any
action that would result in the equivalent of an Adverse REMIC Event with respect to such REMIC or adversely affect the tax status
of such grantor trust as a grantor trust.

 

The parties hereto acknowledge
that a Serviced Companion Loan Noteholder shall not (1) owe any fiduciary duty to the Trustee, the Certificate Administrator, the
Master Servicer, the Special Servicer or any Certificateholder or (2) have any liability to the Trustee or the Certificateholders
for any action taken, or for refraining from the taking of any action pursuant to the related Intercreditor Agreement or the giving
of any consent or for errors in judgment. Each Certificateholder, by its acceptance of a Certificate, shall be deemed to have confirmed
its understanding that a Serviced Companion Loan Noteholder (i) may take or refrain from taking actions that favor its interests
or the interests of its affiliates over the Certificateholders, (ii) may have special relationships and interests that conflict
with the interests of the Certificateholders and shall be deemed to have agreed to take no action against a Serviced Companion
Loan Noteholder or any of its officers, directors, employees, principals or agents as a result of such special relationships or
conflicts, and (iii) shall not be liable by reason of its having acted or refrained from acting solely in its interest or in the
interest of its affiliates.

 

The parties hereto recognize
and acknowledge the respective rights of each Serviced Companion Loan Noteholder under the related Intercreditor Agreement. Each
of the rights of a Serviced Companion Loan Noteholder under or contemplated by this Section 3.27(e) may be exercisable by a designee
thereof on its behalf; provided that the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee
are provided with written notice by the related Serviced Companion Loan Noteholder of such designation (upon which such party may
conclusively rely) and the contact details of the designee.

 

Notwithstanding anything
herein or in the Intercreditor Agreement to the contrary, no direction or objection by the Serviced Companion Loan Noteholder may
require or cause the Master Servicer or the Special Servicer, as applicable, to violate any provision of any Mortgage Loan, applicable
law, this Agreement, any Intercreditor Agreement or the

 

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REMIC Provisions, including without limitation the Master Servicer’s
or Special Servicer’s obligation to act in accordance with the Servicing Standard, or expose the Master Servicer, the Special
Servicer, the Depositor, a Mortgage Loan Seller, the Operating Advisor, the Paying Agent, the Trust Fund, the Certificate Administrator
(in any of its capacities) or the Trustee to liability, or materially expand the scope of the Master Servicer’s or Special
Servicer’s responsibilities hereunder.

 

Any reference to servicing
any of the Mortgage Loans in accordance with any of the related Loan Documents (including the related Note and Mortgage) shall
also mean, in the case of a Serviced Loan Combination, in accordance with the related Intercreditor Agreement.

 

To the extent not otherwise
expressly included herein, any provisions required to be included herein pursuant to any Intercreditor Agreement for a Serviced
Loan Combination or a Non-Serviced Loan Combination are deemed incorporated herein by reference, and the parties hereto shall comply
with those provisions as if set forth herein in full.

 

For purposes of exercising
any rights that the directing holder of the Note for any Mortgage Loan in a Serviced Loan Combination may have under the related
Intercreditor Agreement, the Directing Holder shall be the designee of the Trust, as such noteholder, and the Trustee shall, upon
request, take such actions as may be necessary under the related Intercreditor Agreement to effect such designation. The Certificate
Administrator shall provide notice of the identity of the Controlling Class Representative and/or the Directing Holder (to the
extent the Certificate Administrator has received notice of a change in the identity of the Controlling Class Representative and/or
Directing Holder), to the other parties to the related Intercreditor Agreement, to the extent the identity and contact information
of such parties to such Intercreditor Agreement are actually known to the Certificate Administrator.

 

(f)        With
respect to a Non-Serviced Mortgage Loan, the Master Servicer shall deliver information comparable to the above described information
in Section 3.13(c) and Section 3.13(d) hereof to the same Persons as described above in Section 3.13(c) and Section 3.13(d) and
according to the same time frames as described above in Section 3.13(c) and Section 3.13(d), with reasonable promptness following
such Master Servicer’s receipt of such information from the Other Servicer under the Other Pooling and Servicing Agreement.

 

Promptly following the
Closing Date or, as applicable, upon the receipt of notice by the Certificate Administrator of a Servicing Shift Lead Note Securitization
Date, the Certificate Administrator shall send written notice substantially in the form of Exhibit DD hereto, accompanied
by a copy of an executed version of this Agreement, with respect to each Non-Serviced Mortgage Loan to each applicable Other Servicer,
Other Special Servicer and Other Trustee stating that, as of the Closing Date, the Trustee is the holder of the applicable Non-Serviced
Mortgage Loan and directing each such recipient to remit to the Master Servicer no later than one (1) Business Day after each Determination
Date all amounts payable to, and to forward, deliver or otherwise make available, as the case may be, to the Master Servicer no
later than one (1) Business Day after each Determination Date all reports, statements, documents, communications and other information
that are to be forwarded, delivered or otherwise made available to, the holder of the applicable Non-Serviced Mortgage Loan under
the related Intercreditor Agreement and Other Pooling and Servicing Agreement. Such notice

 

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shall also provide contact information
for the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Directing Holder, the 17g-5 Information
Provider and the Rating Agencies.

 

With respect to a Non-Serviced
Mortgage Loan, if the applicable Other Servicer, Other Special Servicer or Other Trustee shall be replaced in accordance with the
terms of the related Other Pooling and Servicing Agreement, promptly upon notice thereof, the applicable party to this Agreement
that receives such notice shall, upon request, acknowledge such successor as the successor to the Other Servicer, Other Special
Servicer or Other Trustee, as the case may be.

 

With respect to each
Serviced Loan Combination, the Master Servicer or the Special Servicer, as applicable, shall provide each Companion Loan Noteholder
and, if applicable, related Non-Directing Holder (or its designee or representative), within the same time frame and to the same
extent it is required to provide such information and materials to the Certificateholders or the Directing Holder, as applicable,
hereunder with (1) copies of each financial statement received by the Master Servicer pursuant to the terms of the related Loan
Documents, (2) copies of any notice of default sent to the Borrower and (3) subject to the terms of the Loan Documents, copies
of any other documents or information relating to the Serviced Loan Combination (including, without limitation, property inspection
reports, loan servicing statements, Borrower requests and asset status reports) that the Master Servicer delivers to the related
Directing Holder and copies of any other notice, information or report that it is required to provide to the Directing Holder pursuant
to this Agreement with respect to any Major Decision or with respect to any “major decisions” or “major actions”
as set forth in the related Intercreditor Agreement or the implementation of any recommended actions outlined in an Asset Status
Report relating to such Serviced Loan Combination. Any copies to be furnished by the Master Servicer or the Special Servicer may
be furnished by hard copy or electronic means.

 

Section 3.28     Directing
Holder Contact with the Master Servicer and the Special Servicer.      Each of the Master Servicer and the Special Servicer shall,
not more frequently than once per month, without charge, make a knowledgeable Servicing Officer via telephone available during
normal business hours to verbally answer questions from the Directing Holder (for so long as no Consultation Termination Event
has occurred and is continuing) and the Operating Advisor (for so long as a Control Termination Event has occurred and is continuing)
regarding the performance and servicing of the Mortgage Loans and/or REO Properties for which the Master Servicer or the Special
Servicer, as the case may be, is responsible.

 

Section 3.29     Controlling
Class Certificateholders and the Controlling Class Representative; Certain Rights and Powers of the Directing Holder.      (a) Each
Certificateholder and Beneficial Owner of a Control Eligible Certificate is hereby deemed to have agreed by virtue of its purchase
of such Certificate (or beneficial ownership interest in such Certificate) to provide its name and address to the Certificate
Registrar and to notify the Certificate Registrar of the transfer of any Control Eligible Certificate (or the beneficial ownership
of any Control Eligible Certificate), the selection of a Controlling Class Representative or the resignation or removal thereof.
Any such Certificateholder (or Beneficial Owner) or its designee at any time

 

    	-267-

    	 

    

 

appointed Controlling Class Representative is hereby
deemed to have agreed by virtue of its purchase of a Control Eligible Certificate (or the beneficial ownership interest in a Control
Eligible Certificate) to notify the Certificate Registrar and the other parties to this Agreement when such Certificateholder
(or Beneficial Owner) or designee is appointed Controlling Class Representative and when it is removed or resigns. Upon receipt
of such notice, the Certificate Registrar shall notify the Special Servicer, the Master Servicer, the Certificate Administrator,
the Depositor, the Operating Advisor, the Trustee and each Serviced Companion Loan Noteholder of the identity of the Controlling
Class Representative, any resignation or removal thereof and/or any new Holder or Beneficial Owner of a Control Eligible Certificate.

 

On the Closing Date,
the initial Controlling Class Representative shall deliver a certification substantially in the form of Exhibit L-1G to
this Agreement. Upon the resignation or removal of the existing Controlling Class Representative, any successor Controlling Class
Representative shall also deliver a certification substantially in the form of Exhibit L-1G to this Agreement prior to being
recognized as the new Controlling Class Representative.

 

In addition, upon the
request of the Master Servicer, the Special Servicer, the Certificate Administrator, the Trustee or the Operating Advisor, as applicable,
the Certificate Registrar shall promptly (but no later than five (5) Business Days after such request) provide to the requesting
party the identity of the then-current Controlling Class and a list of the Holders of Certificates of the Controlling Class. However,
if any Controlling Class Certificateholder is listed as being the Depository, then the Certificate Administrator shall promptly
(but in no event more than five (5) Business Days following such request) request from the Depository, the list of Beneficial Owners
of the Controlling Class, and the Certificate Administrator shall provide such list to the requesting party promptly upon receipt;
provided, that, if any Controlling Class Certificateholder is listed as the Depository and the Certificate Administrator
has actual knowledge of the identity of the related Beneficial Owner, then the Certificate Administrator shall include such Beneficial
Owner in the list provided to any requesting party pursuant to first sentence of this paragraph. The Master Servicer, the Special
Servicer, the Trustee and the Operating Advisor shall be entitled to conclusively rely on any such information so provided. Any
expenses incurred in connection with obtaining such information shall be at the expense of the requesting party, except that if
(i) such expenses arise in connection with an event as to which the Directing Holder (or Controlling Class Representative) has
review, consent or consultation rights with respect to an action taken by, or report prepared by, the requesting party pursuant
to this Agreement or in connection with a request made by the Operating Advisor in connection with its obligation under this Agreement
to deliver a copy of the Operating Advisor Annual Report to the Controlling Class Representative and (ii) the requesting party
has not been notified of the identity of the Directing Holder (or Controlling Class Representative) or reasonably believes that
the identity of the Directing Holder (or Controlling Class Representative) has changed, then such expenses shall be at the expense
of the Trust.

 

To the extent the Master
Servicer has actual knowledge of any change in the identity of a Holder (or Beneficial Owners) of the Controlling Class, then the
Master Servicer shall promptly notify the Trustee, the Certificate Administrator, the Operating Advisor and the Special Servicer
thereof, who may rely conclusively on such notice from the Master Servicer.

 

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(b)        Once
a Controlling Class Representative has been selected, each of the Master Servicer, the Special Servicer, the Depositor, the Trustee,
the Certificate Administrator, the Certificate Registrar, the Operating Advisor, the Paying Agent and each other Certificateholder
(or Beneficial Owner, if applicable) shall be entitled to rely on such selection unless the Majority Controlling Class Certificateholders
or such Controlling Class Representative shall have notified the Master Servicer, the Special Servicer, the Trustee, the Certificate
Administrator, the Operating Advisor, the Paying Agent and each other Controlling Class Certificateholder, in writing, of the resignation
of such Controlling Class Representative or the selection of a new Controlling Class Representative. Upon the resignation of a
Controlling Class Representative, the Certificate Administrator shall request the Controlling Class Certificateholders to select
a new Controlling Class Representative.

 

(c)        Until
it receives notice to the contrary, each of the Master Servicer, the Special Servicer, the Paying Agent, the Certificate Administrator,
the Operating Advisor and the Trustee shall be entitled to rely on the most recent notification with respect to the identity of
the Controlling Class Certificateholder and the Controlling Class Representative.

 

(d)        The
Master Servicer, Special Servicer, Trustee or Operating Advisor shall be entitled to request that the Certificate Administrator
provide, and the Certificate Administrator shall promptly (but no later than five (5) Business Days after such request) provide
(i) the identity of the Controlling Class Representative and, to the extent reasonably available, a list of Controlling Class Certificateholders,
including names and addresses and (ii) confirmation as to whether a Control Termination Event or Consultation Termination Event
has occurred in the 12 months preceding any such request or any other period specified in such request. In addition to the foregoing,
within five (5) Business Days of receiving notice of the selection of a new Controlling Class Representative or the existence of
a new Controlling Class Certificateholder, the Certificate Administrator shall notify the Trustee, the Operating Advisor, the Master
Servicer and the Special Servicer. Further, the Certificate Administrator shall post a “special notice” on the Certificate
Administrator’s Website within 10 days of its determination of the commencement or cessation of any Consultation Termination
Event or Control Termination Event.

 

At any time the Majority
Controlling Class Certificateholders direct the Certificate Administrator in writing to hold an election for a Controlling Class
Representative, the Certificate Administrator shall hold such election as soon as practicable at the expense of such requesting
Certificateholders.

 

(e)        If
to the extent the Certificate Administrator determines that a Class of Book-Entry Certificates is the Controlling Class, the Certificate
Administrator shall notify the related Certificateholders of such Class (through the Depository) of such event.

 

(f)        Each
Certificateholder acknowledges and agrees, by its acceptance of its Certificates, that: (i) the Directing Holder may have special
relationships and interests that conflict with those of Holders of one or more Classes of Certificates or Companion Loan Noteholders;
(ii) the Directing Holder may act solely in the interests of the Holders of the Controlling Class (or, in the case of a Loan Combination,
in the interests of one or more

 

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Companion Loan Noteholders); (iii) the Directing Holder does not have any liability or duties to
the Holders of any Class of Certificates other than the Controlling Class; (iv) the Directing Holder may take actions that favor
the interests of the Directing Holder or one or more Classes of the Certificates including the Holders of the Controlling Class
(or, in the case of a Loan Combination, one or more Companion Loan Noteholders) over the interests of the Holders of one or more
Classes of Certificates and other Companion Loan Noteholders; and (v) the Directing Holder shall have no liability whatsoever to
any Certificateholder, the Trust, any Companion Loan Noteholder any party hereto or any other Person (including any Borrower under
a Mortgage Loan) for having so acted as set forth in clauses (i) through (iv) of this paragraph, and no Certificateholder or Companion
Loan Noteholder may take any action whatsoever against the Directing Holder or any director, officer, employee, agent or principal
thereof for having so acted.

 

(g)        The
Certificate Registrar shall determine which Class of Certificates is the then-current Controlling Class within two (2) Business
Days of a request from the Master Servicer, Special Servicer, Trustee, the Operating Advisor, the Certificate Administrator or
any Certificateholder and provide such information to the requesting party.

 

(h)        At
any time when the most senior Class of Control Eligible Certificates are the Controlling Class, the Holder of more than 50%
of the Controlling Class (by Certificate Principal Amount) may waive its right to act as, or appoint a representative to act
as, the Controlling Class Representative and to exercise any of the rights of the Controlling Class Representative or cause
the exercise of any of the rights of the Controlling Class Representative by irrevocable written notice delivered to the
Depositor, Certificate Administrator, Certificate Registrar, Trustee, Master Servicer, Special Servicer and Operating
Advisor. Any such waiver shall remain effective with respect to such Holder and the most senior Class of Control Eligible
Certificates until such time as that Certificateholder has (i) sold a majority of the most senior Class of Control Eligible
Certificates (by Certificate Principal Amount) to an unaffiliated third party and (ii) certified to the Depositor,
Certificate Administrator, Certificate Registrar, Trustee, Master Servicer, Special Servicer and Operating Advisor that (a)
the transferor retains no direct or indirect voting rights with respect to the most senior Class of Control Eligible
Certificates that it does not own, (b) there is no voting agreement between the transferee and the transferor and (c) the
transferor retains no direct or indirect controlling interest in the most senior Class of Control Eligible Certificates.
During such waiver period a Control Termination Event and a Consultation Termination Event shall be deemed to exist and the
rights of the Controlling Class to appoint a Controlling Class Representative and the rights of the Controlling Class
Representative shall not be operative (notwithstanding whether a Control Termination Event or a Consultation Termination
Event is or would otherwise then be in effect). Following any transfer of more than 50% of the most senior Class of Control
Eligible Certificates, the successor Holder of more than 50% of the most senior Class of Control Eligible Certificates, if
the most senior Class of Control Eligible Certificates are the Controlling Class (by Certificate Principal Amount) shall
again have the right to act as, or appoint a representative to act as, the Controlling Class Representative without regard to
any prior waiver by the predecessor Certificateholder. The successor Certificateholder shall also have the right to
irrevocably waive its right to act as or appoint a Controlling Class Representative or to exercise any of the rights of the
Controlling Class Representative or cause the exercise of any of the rights of the Controlling Class

 

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Representative. No successor Certificateholder described above shall have any consent rights with respect to any Mortgage
Loan that became a Specially Serviced Loan prior to its acquisition of a majority of the most senior Class of Control Eligible
Certificates that had not also become a corrected loan prior to such acquisition until such Mortgage Loan becomes a Corrected Loan.

 

Section 3.30     No
Downgrade Confirmation.  (a)   Notwithstanding the terms of any related Loan Documents or other provisions of this Agreement,
if any action under any Loan Documents or this Agreement requires a No Downgrade Confirmation as a condition precedent to such
action, if the party (the “Requesting Party”) attempting to obtain such No Downgrade Confirmation from each
Rating Agency has made a request to any Rating Agency for such No Downgrade Confirmation and, within 10 Business Days of the No
Downgrade Confirmation request being posted to the 17g-5 Information Provider’s Website, such Rating Agency has not replied
to such request or has responded in a manner that indicates that such Rating Agency is neither reviewing such request nor waiving
the requirement for No Downgrade Confirmation, then (i) such Requesting Party shall (without providing notice to the 17g-5 Information
Provider) confirm that the applicable Rating Agency has received the No Downgrade Confirmation request, and, if it has not, promptly
request the related No Downgrade Confirmation again and (ii) if there is no response to either such No Downgrade Confirmation
request within 5 Business Days of such second request or such Rating Agency has responded in a manner that indicates it is neither
reviewing such request nor waiving the requirement for No Downgrade Confirmation, (x) with respect to any such condition in any
Loan Document requiring such No Downgrade Confirmation or any other matter under this Agreement relating to the servicing of the
Mortgage Loans (other than as set forth in clause (y) or (z) below), the Requesting Party (or, if the Requesting Party is the
related Borrower, then the Master Servicer (with respect to non-Specially Serviced Loans) or the Special Servicer (with respect
to Specially Serviced Loans and Serviced REO Loans), as applicable) shall determine, in accordance with its duties under this
Agreement and in accordance with the Servicing Standard, whether or not such action would be in the best interests of the Certificateholders
and, in the case of a Serviced Loan Combination, Certificateholders and any holder of the related Serviced Companion Loan (as
a collective whole as if such Certificateholders and Serviced Companion Loan holders constituted a single lender (and with respect
to any Serviced Loan Combination with a related Subordinate Companion Loan, taking into account the subordinate nature of such
Subordinate Companion Loan)), and if the Requesting Party (or, if the Requesting Party is the related Borrower, then the Master
Servicer or the Special Servicer, as applicable) determines that such action would be in the best interest of such parties, then
the requirement for a No Downgrade Confirmation shall be deemed not to apply, (y) with respect to a replacement of the Master
Servicer or Special Servicer, such condition shall be deemed to be satisfied if (i)(a) the applicable replacement master servicer
or special servicer, as applicable, confirms in writing that it was appointed to act as the master servicer or special servicer
on a transaction level basis, as applicable, on the closing date of a commercial mortgage loan securitization that was rated by
Moody’s within the 24-month period prior to the date of determination and (b) Moody’s has not cited servicing concerns
of the applicable replacement as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or
placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities in any other commercial
mortgage-backed securities transaction serviced by the applicable servicer prior to the time of

 

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determination, if Moody’s is the non-responding Rating Agency; (ii) the applicable replacement is rated at least “CMS3”
(in the case of the master servicer) or “CSS3” (in the case of the special servicer), if Fitch is the non-responding
Rating Agency; (iii) the applicable replacement master servicer or special servicer, as applicable, confirms in writing that KBRA
has not cited servicing concerns of the applicable replacement as the sole or material factor in any qualification, downgrade or
withdrawal of the ratings (or placement on “watch status” in contemplation of a ratings downgrade or withdrawal) of
securities in any other commercial mortgage-backed securities transaction serviced by the applicable servicer prior to the time
of determination, if KBRA is the non-responding Rating Agency; or (iv) the applicable replacement master servicer or special servicer,
as applicable, confirms in writing that (a) it is acting as master servicer or special servicer, as applicable, in a commercial
mortgage loan securitization that was rated by an NRSRO within the 12 month period prior to the date of determination, and (b)
Morningstar has not qualified, downgraded or withdrawn the then-current rating or ratings of one or more classes of commercial
mortgage-backed securities, citing servicing concerns with the incoming master servicer or special servicer, as applicable, as
the sole or material factor in such rating action, if Morningstar is the non-responding Rating Agency, and (z) with respect to
a replacement of or successor to the Operating Advisor, in any circumstance where a No Downgrade Confirmation is required with
respect to such successor operating advisor, such condition will be deemed to be waived with respect to any non-responding Rating
Agency so long as such Rating Agency has not cited concerns regarding the replacement operating advisor as the sole or material
factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation
of a ratings downgrade or withdrawal) of securities in any other commercial mortgage-backed securities transaction with respect
to which the replacement operating advisor acts as trust advisor or operating advisor prior to the time of determination.

 

Any No Downgrade Confirmation
request made by the Master Servicer, Special Servicer, Certificate Administrator or Trustee, as applicable, pursuant to this Agreement,
shall be made in writing, which writing shall contain a cover page indicating the nature of the No Downgrade Confirmation request,
and shall contain all back-up material necessary for the Rating Agency to process such request. Such written No Downgrade Confirmation
request shall be provided in electronic format to the 17g-5 Information Provider, and the 17g-5 Information Provider shall post
such request on the 17g-5 Information Provider’s Website in accordance with Section 3.14(d) of this Agreement.

 

Promptly following the
Master Servicer’s or Special Servicer’s determination to take any action discussed in this Section 3.30(a) following
any requirement to obtain a No Downgrade Confirmation being considered satisfied, the Master Servicer or Special Servicer, as the
case may be, shall provide electronic written notice to the 17g-5 Information Provider of the action taken for the particular item
at such time, and the 17g-5 Information Provider shall post such notice on the 17g-5 Information Provider’s Website in accordance
with Section 3.14(d) of this Agreement.

 

(b)        Notwithstanding
anything to the contrary in this Section 3.30, for purposes of the provisions of any Loan Document relating to defeasance (including
without limitation the type of collateral acceptable for use as defeasance collateral), release or substitution of any collateral,
any No Downgrade Confirmation requirement in the Loan

 

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Documents with respect to which the Master Servicer or Special Servicer would
have been required to make the determination described in Section 3.30(a) shall be deemed not to apply regardless of any such determination
by the Requesting Party (or, if the Requesting Party is the related Borrower, the Master Servicer (with respect to non-Specially
Serviced Loans) or the Special Servicer (with respect to Specially Serviced Loans and Serviced REO Loans), as applicable); provided,
that the Requesting Party (or the Master Servicer or the Special Servicer, as applicable) shall in any event review the other conditions
required under the related Loan Documents with respect to such defeasance, release or substitution and confirm to its satisfaction
in accordance with the Servicing Standard that such conditions (other than the requirement for a No Downgrade Confirmation) have
been satisfied.

 

(c)        For
all other matters or actions not specifically discussed in Section 3.30(a) above, the applicable Requesting Party shall deliver
a No Downgrade Confirmation from each Rating Agency.

 

(d)        Notwithstanding
the terms of the related Loan Documents, the other provisions of this Agreement or the applicable Intercreditor Agreement, with
respect to any Serviced Companion Loan as to which there exists Serviced Companion Loan Securities, if any action relating to the
servicing and administration of the related Loan Combination or any related REO Property (the “Relevant Action”)
requires delivery of a No Downgrade Confirmation as a condition precedent to such action pursuant to this Agreement, then, except
as set forth below in this paragraph, such action shall also require delivery of a Serviced Companion Loan No Downgrade Confirmation
as a condition precedent to such action from each related Serviced Companion Loan Rating Agency. Each Serviced Companion Loan No
Downgrade Confirmation shall be sought by the Master Servicer or Special Servicer, as applicable, depending on whichever such party
is seeking the corresponding No Downgrade Confirmation(s) in connection with the Relevant Action. The requirement to obtain a Serviced
Companion Loan No Downgrade Confirmation with respect to any Serviced Companion Loan Securities will be subject to, will be permitted
to be waived by the Master Servicer and the Special Servicer on, and will be deemed not to apply on, the same terms and conditions
applicable to obtaining No Downgrade Confirmations, as set forth in this Agreement; provided that the Master Servicer or
Special Servicer, as applicable, depending on which is seeking the subject Serviced Companion Loan No Downgrade Confirmation, shall
forward to one or more of its counterparts (i.e., the Other Servicer or Other Special Servicer, as applicable), the Other 17g-5
Information Provider, or such other party or parties as are agreed to by the Master Servicer or the Special Servicer, as applicable,
and the applicable parties for the related Other Securitization, at the expense of the Other Securitization to the extent not borne
by the related Borrower, and in such format as the sender and recipient may reasonably agree, (i) the request for such Serviced
Companion Loan No Downgrade Confirmation, (ii) all materials forwarded to the 17g-5 Information Provider under this Agreement in
connection with seeking the No Downgrade Confirmation(s) for the applicable Relevant Action at approximately the same time that
such materials are forwarded to the 17g-5 Information Provider, and (iii) any other materials that the applicable Serviced Companion
Loan Rating Agency may reasonably request in connection with such Serviced Companion Loan No Downgrade Confirmation promptly following
receipt of such request from the Other Certificate Administrator.

 

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The Certificate Administrator
shall, promptly following receipt of written request from the Master Servicer or the Special Servicer, as applicable, provide to
the Master Servicer or the Special Servicer, as applicable, the contact information for the Other Servicer, the Other Special Servicer,
the Other Certificate Administrator, the Other Trustee and the Other 17g-5 Information Provider for the Other Securitization, solely
to the extent known to it.

 

Section 3.31     Appointment
and Duties of the Operating Advisor.

 

(a)        Park
Bridge Lender Services LLC is hereby appointed to serve as the initial Operating Advisor.

 

(b)        The
Operating Advisor, as an independent contractor, shall review the Special Servicer’s operational practices in respect of
Specially Serviced Loans, consult, in certain circumstances with the Special Servicer and perform each other obligation of the
Operating Advisor as set forth in this Agreement solely on behalf of the Trust Fund and in the best interest of, and for the benefit
of, the Certificateholders (as a collective whole as if such Certificateholders and, with respect to any Serviced Loan Combination,
the related Serviced Pari Passu Companion Loan Noteholder(s) constituted a single lender), and not any particular Class
of Certificateholders (as determined by the Operating Advisor in the exercise of its good faith and reasonable judgment) (the “Operating
Advisor Standard”). The Operating Advisor shall not owe any fiduciary duty to the Master Servicer, the Special Servicer
or any other Person in connection with this Agreement. By purchasing a Certificate, Certificateholders are deemed to acknowledge
and agree that there could be multiple strategies to resolve any Specially Serviced Loan and that the goal of the Operating Advisor’s
participation is to provide additional oversight relating to the Special Servicer’s compliance with the Servicing Standard
in making its determinations as to which strategy to execute.

 

(c)        With
respect to each Mortgage Loan (other than Non-Serviced Mortgage Loans and Servicing Shift Mortgage Loans) and Serviced Loan Combination
(other than Servicing Shift Loan Combinations), unless a Control Termination Event has occurred and is continuing, the Operating
Advisor shall:

 

(i)        promptly
review all information available to Privileged Persons on the Certificate Administrator’s Website relevant to the Operating
Advisor’s obligations under this Agreement;

 

(ii)       promptly
review each Final Asset Status Report; and

 

(iii)      review
any Appraisal Reduction Amount and net present value calculations pursuant to Section 3.31(e) of this Agreement.

 

(d)        With
respect to each Mortgage Loan (other than Non-Serviced Mortgage Loans and Servicing Shift Mortgage Loans) and Serviced Loan Combination
(other than Servicing Shift Loan Combinations), while a Control Termination Event has occurred and is continuing, the Operating
Advisor shall:

 

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(i)        consult
(on a non-binding basis) with the Special Servicer in connection with any Major Decision pursuant to Section 6.07 of this Agreement;

 

(ii)       review,
recalculate and verify the accuracy of any Appraisal Reduction Amount and net present value calculations pursuant to Section 3.31(f)
of this Agreement;

 

(iii)      in
connection with the preparation of the Operating Advisor Annual Report (defined below), review, in accordance with the Operating
Advisor Standard, the Special Servicer’s operational practices on a Platform-Level Basis in respect of Specially Serviced
Loans in order to formulate an opinion (in accordance with the Operating Advisor Standard) as to whether or not those operational
practices generally satisfy the Servicing Standard with respect to the resolution and/or liquidation of the Specially Serviced
Loans;

 

(iv)      within
120 days of the end of the prior calendar year (if any such Mortgage Loans (other than Non-Serviced Mortgage Loans and Servicing
Shift Mortgage Loans) or Serviced Loan Combination (other than Servicing Shift Loan Combinations) were Specially Serviced Loans
during the prior calendar year), deliver an annual report setting forth the Operating Advisor’s assessment of the Special
Servicer’s performance of its duties under this Agreement on a Platform-Level Basis with respect to the resolution and liquidation
of Specially Serviced Loans during the prior calendar year (the “Operating Advisor Annual Report”) to the Master
Servicer, the Trustee, the Certificate Administrator (who shall promptly post such Operating Advisor Annual Report on the Certificate
Administrator’s Website), the related Serviced Companion Loan Noteholder (if any) and the 17g-5 Information Provider (who
shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement).
Each Operating Advisor Annual Report shall be substantially in the form of Exhibit X of this Agreement (which form may be
modified or altered as to either its organization or content by the Operating Advisor, subject to compliance of such form with
the terms and provisions of this Agreement) and shall be based on the Operating Advisor’s review of any annual compliance
statement and any assessment of compliance delivered to the Operating Advisor pursuant to Section 10.11 of this Agreement, as applicable,
any attestation report delivered to the Operating Advisor pursuant to Section 10.13 of this Agreement, any Asset Status Report,
other information (other than any communications between the Directing Holder and the Special Servicer that would be Privileged
Information) delivered to the Operating Advisor by the Special Servicer and oral communications with the Special Servicer (the
foregoing, the “Performance Assessment Information”); provided that in no event shall the information
or any other content included in the Operating Advisor Annual Report contravene any provision of this Agreement. Subject to the
restrictions in this Agreement, including, without limitation, Section 3.31(b) of this Agreement, each such Operating Advisor Annual
Report shall (A) identify any material deviations (i) from the Servicing Standard and (ii) from the Special Servicer’s obligations
under this Agreement with respect to the resolution or liquidation of Specially Serviced Loans and (B) comply with all of the confidentiality
requirements applicable to the Operating Advisor

 

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described in this Agreement. Promptly upon receipt of each Operating Advisor Annual
Report, the Certificate Administrator shall post such Operating Advisor Annual Report on the Certificate Administrator’s
Website. Each of the Special Servicer and the Directing Holder (for so long as no Consultation Termination Event has occurred and
is continuing) shall be given an opportunity to review any Operating Advisor Annual Report at least five Business Days prior to
its delivery to the Trustee and the Certificate Administrator; provided, that the Operating Advisor shall have no obligation
to consider any comments to such Operating Advisor Annual Report that are provided by the Special Servicer or Directing Holder.
Notwithstanding the foregoing, no Operating Advisor Annual Report shall be required from the Operating Advisor with respect to
the Special Servicer if during the prior calendar year no Asset Status Report was prepared by the Special Servicer in connection
with a Specially Serviced Loan or Serviced REO Property.

 

(e)        With
respect to each Mortgage Loan (other than Non-Serviced Mortgage Loans and Servicing Shift Mortgage Loans) and Serviced Loan Combination
(other than Servicing Shift Loan Combinations), if no Control Termination Event has occurred and is continuing, the Special Servicer
will forward any Appraisal Reduction Amount and net present value calculations used in the Special Servicer’s determination
of what course of action to take in connection with the workout or liquidation of a Specially Serviced Loan to the Operating Advisor
after such calculations have been finalized. The Operating Advisor shall review such calculations but may not opine on, or otherwise
call into question, such Appraisal Reduction Amount and/or net present value calculations (except that if the Operating Advisor
discovers a mathematical error contained in such calculations, then the Operating Advisor shall notify the Special Servicer and
the Controlling Class Representative (other than with respect to Excluded Mortgage Loans) of such error).

 

(f)        With
respect to each Mortgage Loan (other than Non-Serviced Mortgage Loans and Servicing Shift Mortgage Loans) and Serviced Loan Combination
(other than Servicing Shift Loan Combinations), while a Control Termination Event has occurred and is continuing, after the calculation
but prior to the utilization by the Special Servicer of any of the calculations related to (A) Appraisal Reduction Amounts or (B)
net present value, the Special Servicer shall forward such calculations, together with any supporting material or additional information
necessary in support thereof (including such additional information reasonably requested by the Operating Advisor to confirm the
mathematical accuracy of such calculations, but not including any Privileged Information), to the Operating Advisor promptly, but
in any event no later than 2 Business Days after finalizing the preparation of such calculations, and the Operating Advisor shall
promptly, but no later than 3 Business Days after receipt of such calculations and any supporting or additional materials, recalculate
and verify the accuracy of the mathematical calculations and the corresponding application of the non-discretionary portion of
the applicable formulas required to be utilized in connection with any such calculation.

 

In connection with this
Section 3.31(f), if the Operating Advisor does not agree with the mathematical calculations or the application of the applicable
non-discretionary portions of the formulas required to be utilized for such calculation, the Operating Advisor and Special Servicer
shall consult with each other in order to resolve any inaccuracy in the

 

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mathematical calculations or the application of the non-discretionary
portions of the related formulas in arriving at those mathematical calculations or any disagreement within 5 Business Days of delivery
of such calculations to the Operating Advisor. If the Operating Advisor and Special Servicer are not able to resolve such inaccuracies
or disagreement prior to the end of such 5 Business Day period, the Operating Advisor shall promptly notify the Certificate Administrator
of such disagreement and the Certificate Administrator shall examine the calculations and supporting materials provided by the
Special Servicer and the Operating Advisor and shall determine which calculation is to apply. In making such determination, the
Certificate Administrator may hire an independent third-party to assist with any such calculation at the expense of the Trust and
shall be entitled to conclusively rely on such third party’s determination (provided such third party has been selected with
reasonable care by the Certificate Administrator).

 

(g)        Subject
to the requirements of confidentiality imposed on the Operating Advisor herein (including without limitation in respect of Privileged
Information), the Operating Advisor shall respond to Inquiries proposed by Privileged Persons from time to time in accordance with
the terms of Section 4.02(c) of this Agreement.

 

(h)        The
Operating Advisor shall keep all Privileged Information confidential and shall not disclose such Privileged Information to any
Person (including Certificateholders other than the Controlling Class Representative), other than (1) to the extent expressly required
by this Agreement, to the other parties to this Agreement with a notice indicating that such information is Privileged Information
or (2) pursuant to a Privileged Information Exception. Each party to this Agreement that receives Privileged Information from the
Operating Advisor with a notice stating that such information is Privileged Information shall not disclose such Privileged Information
to any Person without the prior written consent of the Special Servicer, the Controlling Class Representative and the Directing
Holder other than pursuant to a Privileged Information Exception.

 

(i)        On
each Servicer Remittance Date, the Operating Advisor shall be paid the applicable Operating Advisor Fee from amounts on deposit
in the Collection Account pursuant to Section 3.06 of this Agreement, as applicable. In addition, the Operating Advisor Consulting
Fee shall be payable to the Operating Advisor with respect to each Major Decision for which the Operating Advisor has consultation
rights. Each of the Operating Advisor Fee and the Operating Advisor Consulting Fee shall be payable from funds on deposit in the
Collection Account as provided in Section 3.06 of this Agreement, but with respect to the Operating Advisor Consulting Fee only
to the extent such Operating Advisor Consulting Fee is actually received from the related Borrower. When the Operating Advisor
has consultation rights with respect to a Major Decision under this Agreement, the Master Servicer or the Special Servicer, as
applicable, shall use commercially reasonable efforts consistent with the Servicing Standard to collect the applicable Operating
Advisor Consulting Fee from the related Borrower in connection with such Major Decision, but only to the extent not prohibited
by the related Loan Documents. The Master Servicer or Special Servicer, as applicable, may waive or reduce the amount of any Operating
Advisor Consulting Fee payable by the related Borrower if it determines that such full or partial waiver is in accordance with
the Servicing Standard, but in no event shall the Master Servicer or the Special Servicer take any enforcement action with respect
to the collection of such Operating Advisor Consulting Fee other than requests for

 

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collection; provided that the Master
Servicer or the Special Servicer, as applicable, shall consult with the Operating Advisor prior to any such waiver or reduction.

 

(j)        The
Operating Advisor may resign from its obligations and duties under this Agreement, without payment of any penalty, at any time
when the Certificate Balances of the Classes of Certificates senior to the Class E Certificates have been reduced to zero. No successor
operating advisor will be required to be appointed in connection with, or as a condition to, such resignation.

 

Section 3.32     Delivery
of Excluded Information to the Certificate Administrator.

 

(a)        Any
Excluded Information that the Master Servicer, the Special Servicer or the Operating Advisor identifies and delivers to the Certificate
Administrator for posting to the Certificate Administrator’s Website shall be delivered to the Certificate Administrator
via e-mail (or such other electronic means as is mutually acceptable to the parties) in one or more separate files labeled “Excluded
Information” followed by the applicable loan name and loan file to cmbsexcludedinformation@wellsfargo.com. For the avoidance
of doubt, any information that is not appropriately labeled and delivered in accordance with this Section 3.32 shall not be separately
posted as Excluded Information on the Certificate Administrator’s Website, and any information appropriately labeled and
delivered to the Certificate Administrator pursuant to this Section shall be posted on the Certificate Administrator’s Website
under the “Excluded Information” section, as provided under Section 4.02(b). When so posted, Excluded Controlling
Class Holders shall be prohibited from the access of Excluded Information with respect to any Excluded Controlling Class Mortgage
Loans on the Certificate Administrator’s Website (unless loan-by-loan segregation is later performed by the Certificate Administrator
in which case such access shall only be prohibited with respect to the related Excluded Controlling Class Mortgage Loans). None
of the Master Servicer, the Special Servicer or the Operating Advisor shall have any obligations to separately label and deliver
any Excluded Information in accordance with this Section 3.32 until such party has received written notice with respect to the
related Excluded Controlling Class Mortgage Loan in the form of Exhibit L-1E to this Agreement. Nothing set forth in this
Agreement shall prohibit the Controlling Class Representative or any Controlling Class Certificateholder from receiving, requesting
or reviewing any Excluded Information relating to any Excluded Controlling Class Mortgage Loan with respect to which the Controlling
Class Representative or such Controlling Class Certificateholder is not a Borrower Party and, if such Excluded Information is not
available on the Certificate Administrator’s Website, such Controlling Class Representative or Controlling Class Certificateholder
that is not a Borrower Party with respect to the related Excluded Controlling Class Mortgage Loan shall be permitted to obtain
such information in accordance with Section 3.14(c).

 

Section 3.33     Certain
Matters with Respect to Joint Mortgage Loans.

 

(a)        If
a Mortgage Loan Seller of a Joint Mortgage Loan (a “Repurchasing Seller”) repurchases, or substitutes for, the
Note(s) (as such term is defined in this Section 3.33(a)) (a “Repurchased Note”) related to such Joint Mortgage
Loan that it sold to the Depositor, but the other Mortgage Loan Seller of such Joint Mortgage Loan does not repurchase, or substitute
for, the Note(s) related to such Joint Mortgage Loan that it sold to

 

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the Depositor, the provisions of this Section 3.33 shall apply
prior to the adoption, pursuant to Section 11.08, of any amendment to this Agreement that provides otherwise. Each Mortgage Loan
Seller of a Joint Mortgage Loan has agreed pursuant to the terms of the related Mortgage Loan Purchase Agreement that the terms
set forth in this Section 3.33 with respect to the servicing and administration of such Joint Mortgage Loan shall apply if one
or more of the Notes related to such Joint Mortgage Loan has been repurchased or, by way of substitution, otherwise removed from
the Trust and at least one other Note related to such Joint Mortgage Loan is included in the Trust until such time as all of the
Notes related to such Joint Mortgage Loan are no longer included in the Trust. For purposes of this Section 3.33 and Section 11.08
only, “Note” shall mean with respect to any Joint Mortgage Loan, each original promissory note that collectively
represents the Note (as defined in Article I) with respect to such Joint Mortgage Loan and shall not be a collective reference
to such promissory notes.

 

(b)        Custody
of and record title under the Loan Documents with respect to the applicable Joint Mortgage Loan shall be held exclusively by the
Trustee or the Custodian as provided under this Agreement, except that the Repurchasing Seller shall hold and retain title to its
original Repurchased Note and any related endorsements thereof.

 

(i)        All
of the Notes with respect to any Joint Mortgage Loan shall be of equal priority, and no portion of any Note shall have priority
or preference over any other portion of the other Notes or security therefor. Payments from the related Borrower (including, without
limitation, any late fees) or any other amounts received with respect to each Note shall be collected as provided in this Agreement
by the Master Servicer and shall be applied upon receipt by the Master Servicer pro rata to each related Note based on its
respective Repurchased Percentage Interest (as defined in Section 3.33(b)(ii)), subject to Section 3.33(b)(ii). Payments or any
other amounts received with respect to the related Repurchased Note shall be held for the benefit of the applicable Repurchasing
Seller and remitted (net of its pro rata share of any Master Servicing Fees, Special Servicing Fees, Operating Advisor Fees
and any other amounts due to the Master Servicer or the Special Servicer) to the applicable Repurchasing Seller or its designee
by the Master Servicer on each Distribution Date pursuant to instructions provided by the applicable Repurchasing Seller and deposited
and applied in accordance with this Agreement, subject to Section 3.33(b)(ii). If any Joint Mortgage Loan to which this Section
3.33 applies becomes REO Loans, payments or any other amounts received with respect to any such Joint Mortgage Loan shall be collected
and shall be applied upon receipt by the Master Servicer pro rata to each related Note based on its respective Repurchased Percentage
Interest, subject to Section 3.33(b)(ii). Any Appraisal Reduction Amounts calculated with respect to any Joint Mortgage Loan subject
to this Section 3.33 shall be allocated to each related Note pro rata based upon the respective Stated Principal Balances
thereof.

 

(ii)       If
the Master Servicer or the Special Servicer, as applicable, receives an aggregate payment of less than the aggregate amount due
under any such Joint Mortgage Loan at any particular time, the applicable Repurchasing Seller shall receive from the Master Servicer
an amount equal to such Repurchasing Seller’s Repurchased Percentage Interest of such payment. All expenses, losses and shortfalls
relating solely

 

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to such Joint Mortgage Loan including, without limitation, losses of principal or interest, Nonrecoverable Advances,
interest on Advances, Operating Advisor expenses, Special Servicing Fees, Workout Fees and Liquidation Fees (including any such
fees related to the applicable Notes), shall be allocated between the holders of the related Notes pro rata based upon the
respective Stated Principal Balances thereof. In no event shall any costs, expenses, fees or any other amounts related to any Mortgage
Loan or Joint Mortgage Loan other than the applicable Joint Mortgage Loan be deducted from payments or any other amounts received
with respect to such Joint Mortgage Loan and payable to the applicable Repurchasing Seller. For purposes of Section 3.33(b)(i),
this Section 3.33(b)(ii) and Section 3.33(g), “Repurchased Percentage Interest” shall mean the percentage interest
of the applicable Mortgage Loan Seller in the applicable Joint Mortgage Loan.

 

(iii)      A
Joint Mortgage Loan to which this Section 3.33 applies shall be serviced for the benefit of the applicable Repurchasing Seller
and the Certificateholders pursuant to the terms and conditions of this Agreement in accordance with the Servicing Standard and
in accordance with the provisions herein as if (A) such Joint Mortgage Loan were a Serviced Loan Combination, (B) the related Note(s)
not repurchased were (1) a Mortgage Loan serviced pursuant to this Agreement and (2) the only Mortgage Loan that is part of such
Joint Mortgage Loan, and (C) the related Repurchased Note were a Serviced Companion Loan. No Repurchasing Seller shall be permitted
to terminate the Master Servicer, the Special Servicer or the Operating Advisor as servicer, special servicer or operating advisor,
respectively, of the related Repurchased Note. All rights of the mortgagee under each such Joint Mortgage Loan shall be exercised
by the Master Servicer or the Special Servicer, on behalf of the Trust to the extent of its interest therein and the applicable
Repurchasing Seller in accordance with this Agreement.

 

(iv)       The
related Repurchasing Seller shall be treated hereunder as if it were a Serviced Companion Loan Noteholder on a pari passu
basis. Funds collected by the Master Servicer or the Special Servicer, as applicable, and applied to the applicable Notes shall
be deposited and disbursed in accordance with the provisions hereof relating to Serviced Companion Loan Noteholders. Compensation
shall be paid to the Master Servicer, the Special Servicer and the Operating Advisor with respect to each Repurchased Note as provided
in this Agreement as if each such Note were a Serviced Companion Loan. None of the Trustee, the Certificate Administrator, the
Master Servicer, the Special Servicer or the Operating Advisor shall have any obligation to make P&I Advances with respect
to any Repurchased Note or, if no related Note is part of the Trust, an Advance with respect to any Repurchased Note. Except as
otherwise specified herein, the Master Servicer and the Special Servicer shall have no reporting requirement with respect to any
Repurchased Note other than to deliver to the related Repurchasing Seller any document as is required to be delivered to a Serviced
Companion Loan Noteholder hereunder.

 

(c)        If
any non-repurchased Note relating to a Joint Mortgage Loan to which this Section 3.33 applies is considered a Specially Serviced
Loan, then any related Repurchased Note shall also be a Specially Serviced Loan under this Agreement. The Special Servicer shall

 

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cause such related Repurchased Note to be specially serviced for the benefit of the applicable Repurchasing Seller in accordance
with the terms and provisions set forth in this Agreement and shall be entitled to any Special Servicing Fee, Workout Fee or Liquidation
Fee payable to the Special Servicer under this Agreement as with respect to a Serviced Companion Loan.

 

(d)        If
(A) the Master Servicer shall pay any amount to any Repurchasing Seller pursuant to the terms hereof in the belief or expectation
that a related payment has been made or will be received or collected in connection with either or both of the applicable Notes
and (B) such related payment is not received or collected by the Master Servicer, then the applicable Repurchasing Seller shall
promptly on demand by the Master Servicer return such amount to the Master Servicer. If the Master Servicer determines at any time
that any amount received or collected by the Master Servicer in respect of any Joint Mortgage Loans to which this Section 3.33
applies must be returned to the related Borrower or paid to any other person or entity pursuant to any insolvency law or otherwise,
notwithstanding any other provision of this Agreement, the Master Servicer shall not be required to distribute any portion thereof
to the related Repurchasing Seller, and such Repurchasing Seller shall promptly on demand by the Master Servicer repay (which obligation
shall survive the termination of this Agreement) any portion thereof that the Master Servicer shall have distributed to such Repurchasing
Seller, together with interest thereon at such rate, if any, as the Master Servicer may pay to the related Borrower or such other
person or entity with respect thereto.

 

(e)        Subject
to this Agreement (including, without limitation, the consent and consultation rights of the Controlling Class Representative and
any consultation rights of the Operating Advisor), the Master Servicer or the Special Servicer, as applicable, on behalf of the
holders of any of the Repurchased Notes, shall have the exclusive right and obligation to (i) administer, service and make all
decisions and determinations regarding the related Joint Mortgage Loan and (ii) enforce the applicable Loan Documents as provided
hereunder. Without limiting the generality of the preceding sentence, the Master Servicer or the Special Servicer, as applicable,
may agree to any modification, waiver or amendment of any term of, forgive interest on and principal of, capitalize interest on,
permit the release, addition or substitution of collateral securing, and/or permit the release of the related Borrower on or any
guarantor of any Joint Mortgage Loan it is required to service and administer as contemplated by this Section 3.33, without the
consent of the related Repurchasing Seller, subject, however, to the terms of this Agreement as they pertain to a Serviced Companion
Loan.

 

(f)        In
taking or refraining from taking any action permitted hereunder, the Master Servicer and the Special Servicer shall each be subject
to the same degree of care with respect to the administration and servicing of the Joint Mortgage Loans to which this Section 3.33
applies as is consistent with this Agreement; and shall be liable to any Repurchasing Seller only to the same extent as set forth
herein with respect to any holder of a Serviced Companion Loan.

 

(g)        If
the Trustee, the Master Servicer or the Special Servicer has made an Advance with respect to any Repurchased Note which would otherwise
be reimbursable to such advancing party under this Agreement, and such Advance is determined to be a Nonrecoverable Advance, the
applicable Repurchasing Seller shall reimburse the Trust in an amount equal to such Repurchasing Seller’s Repurchased Percentage
Interest of such

 

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Nonrecoverable Advance with interest thereon; provided, if the Repurchasing Seller does not reimburse the
Trustee, the Master Servicer or the Special Servicer, as applicable, the Master Servicer shall reimburse the Trustee, itself and/or
the Special Servicer, as applicable, for such amounts from the Collection Account. Notwithstanding the foregoing, the applicable
Repurchasing Seller shall not be obligated to reimburse the Trustee, the Master Servicer or the Special Servicer (and amounts due
to the applicable Repurchasing Seller shall not be offset) for Advances or interest thereon or any amounts related to any Mortgage
Loans or any other Joint Mortgage Loan other than such amounts relating to the applicable Repurchased Note. To the extent that
the applicable Repurchasing Seller reimburses any such Nonrecoverable Advances and such amounts are subsequently recovered, the
applicable Repurchasing Seller shall receive a reimbursement from such recovery based on its Repurchased Percentage Interest of
such recovery. This reimbursement right shall not limit the Trustee’s, the Master Servicer’s or the Special Servicer’s
rights to reimbursement under this Agreement. Notwithstanding anything to the contrary contained herein, the total liability of
each Repurchasing Seller shall not exceed an amount equal to its Repurchased Percentage Interest of the amount to be reimbursed.

 

(h)        Each
Repurchasing Seller shall have the right to assign the related Repurchased Note; provided that the assignee of the related
Repurchased Note shall agree in writing to be bound by the terms of this Agreement.

 

(i)        The
Master Servicer and the Special Servicer shall, in connection with their servicing and administrative duties under this Agreement,
exercise efforts consistent with the Servicing Standard to execute and deliver, on behalf of each Repurchasing Seller as a holder
of a pari passu interest in the applicable Joint Mortgage Loan, any and all financing statements, continuation statements
and other documents and instruments necessary to maintain the lien created by any Mortgage or other security document related to
the applicable Joint Mortgage Loan on the related Mortgaged Property and related collateral, any and all modifications, waivers,
amendments or consents to or with respect to the related Joint Mortgage Loan documents, and any and all instruments of satisfaction
or cancellation, or of full release or discharge, and all other comparable instruments with respect to the related Repurchased
Note or related Repurchased Notes and the related Mortgaged Property all in accordance with, and subject to, the terms of this
Agreement. Each Repurchasing Seller agrees to furnish, or cause to be furnished, to the Master Servicer and the Special Servicer
any powers of attorney or other documents necessary or appropriate to enable the Master Servicer or the Special Servicer, as the
case may be, to carry out its servicing and administrative duties under this Agreement related to the applicable Joint Mortgage
Loan; provided, however, that such Repurchasing Seller shall not be liable, and shall be indemnified by the Master Servicer or
the Special Servicer, as applicable, for any negligence with respect to, or misuse of, any such power of attorney by the Master
Servicer or the Special Servicer, as the case may be; and further provided that the Master Servicer or the Special Servicer, without
the written consent of the applicable Repurchasing Seller, shall not initiate any action in the name of such Repurchasing Seller
without indicating its representative capacity or take any action with the intent to cause and that actually causes, such Repurchasing
Seller to be registered to do business in any state.

 

(j)        Pursuant
to the related Mortgage Loan Purchase Agreement, the applicable Repurchasing Seller is required to deliver to the Master Servicer
or the Special

 

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Servicer, as applicable, the Loan Documents related to the applicable Repurchased Note, any requests for
release and any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s
sale in respect of the related Mortgaged Property or to any legal action or to enforce any other remedies or rights provided by
the Note(s) or the Mortgage(s) or otherwise available at law or equity with respect to the related Repurchased Note.

 

Section 3.34     Loan Registry

 

It is hereby acknowledged
and agreed that the loan agreement for the Mortgaged Property that secures the Mortgage Loan identified as Loan No. 3 (the “Ashley
Park Mortgage Loan”) provides that the related Mortgagor or an agent of the related Mortgagor shall maintain a register
(the “Lender Register”) on which it will record the Ashley Park Mortgage Loan and each assignment thereof and/or
participation therein. Promptly following the Closing Date, the Master Servicer shall, on behalf of the Trustee (on behalf of the
Certificateholders) as the new lender of the Ashley Park Mortgage Loan, maintain the Lender Register to the extent required under
the applicable loan agreement.

 

Article
IV

DISTRIBUTIONS TO CERTIFICATEHOLDERS

 

Section
4.01     Distributions. (a) On each Distribution Date, amounts held in the Lower-Tier
Distribution Account shall be withdrawn (to the extent of the Available Funds, including or reduced by, to the extent
required by Section 3.05(e) of this Agreement, the Withheld Amounts, plus any amount withdrawn from the Excess Liquidation
Proceeds Account pursuant to Section 3.05(i) of this Agreement) in the case of all Classes of Lower-Tier Regular Interest
(such amount, the “Lower-Tier Distribution Amount”). On each Distribution Date, distributions in respect
of principal shall be deemed to have been made on each Class of Lower-Tier Regular Interests in an amount equal to the amount
of principal actually distributed on its respective Corresponding Certificates as provided in Section 4.01(b) of this
Agreement. As of any date, the principal balance of each Lower-Tier Regular Interest shall equal the Lower-Tier
Principal Balance thereof. On each Distribution Date, distributions of interest made in respect of any Class of Regular
Certificates on each Distribution Date pursuant to Section 4.01(b) or Section 9.01 of this Agreement shall be deemed to have
first been distributed from the Lower-Tier REMIC to the Upper-Tier REMIC in respect of its Corresponding Lower-Tier Regular
Interest set forth in the Preliminary Statement to this Agreement; provided that each Lower-Tier Regular Interest
shall be deemed to have received distributions in respect of interest in an amount equal to the Interest Accrual Amount and
Class Interest Shortfalls in respect of the Class X-A Strip Rate, Class X-B Strip Rate, Class X-C Strip Rate, Class X-D Strip
Rate, Class X-E Strip Rate or Class X-F Strip Rate of its Corresponding Component, in each case to the extent actually
distributed thereon as provided in Section 4.01(b) of this Agreement.

 

All distributions of
reimbursements of Realized Losses and Additional Trust Fund Expenses made in respect of any Class of Sequential Pay Certificates
on each Distribution Date pursuant to Section 4.01(b) of this Agreement shall be deemed to have first been

 

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distributed from the
Lower-Tier REMIC to the Upper-Tier REMIC in respect of its Corresponding Lower-Tier Regular Interest set forth in the Preliminary
Statement to this Agreement; provided, that distributions of reimbursements of Realized Losses and Additional Trust Fund
Expenses shall be made in sequential order of the priority set forth in this Section 4.01(a) for principal distributions, up to
the amount of Realized Losses and Additional Trust Fund Expenses previously allocated to a particular Lower-Tier Regular Interest
corresponding to such Class of Certificates.

 

On each Distribution
Date, the Certificate Administrator shall apply amounts related to each Prepayment Premium and Yield Maintenance Charge then on
deposit in the Lower-Tier Distribution Account and received during or prior to the related Collection Period to the Lower-Tier
Regular Interests in proportion to the amount of principal deemed distributed to each Class of Lower-Tier Regular Interests on
such Distribution Date pursuant to this Section 4.01(a).

 

The Certificate Administrator
shall be deemed to deposit the Lower-Tier Distribution Amount and the amount of any Prepayment Premiums and any Yield Maintenance
Charges distributed to the Upper-Tier REMIC pursuant to this Section 4.01(a) into the Upper-Tier Distribution Account. Any amount
in respect of the Mortgage Pool that remains in the Lower-Tier Distribution Account on each Distribution Date after the deemed
distribution described in the preceding sentence shall be distributed to the Holders of the Class LR Certificates with respect
to the Class LTR Interest (but only to the extent of such amount for such Distribution Date remaining in the Lower-Tier Distribution
Account, if any).

 

(b)         On
each Distribution Date occurring prior to the Crossover Date, the Certificate Administrator shall withdraw from the Upper-Tier
Distribution Account the amounts deposited in the Upper-Tier Distribution Account in respect of such Distribution Date pursuant
Section 4.01(a) of this Agreement, and distribute such amount to the Holders of the Regular Certificates in the amounts and in
the order of priority set forth below:

 

(i)          First,
to the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class
X-F Certificates, in respect of interest, up to an amount equal to, and pro rata in accordance with, the respective aggregate
Interest Accrual Amount for those Classes;

 

(ii)         Second,
to the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class
X-F Certificates, in respect of interest, up to an amount equal to, and pro rata in accordance with, the respective aggregate
unpaid Class Interest Shortfalls previously allocated to such Classes;

 

(iii)        Third,
to the Class A-1, Class A-2, Class A-SB, Class A-3 and Class A-4 Certificates, in reduction of the Certificate Balances thereof,
in the following priority:

 

(A)     first,
to the Class A-SB Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution

 

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Amount for such Distribution Date, until the Certificate Balance of such Class is reduced to the Class A-SB Planned Principal Balance;

 

(B)     second,
to the Class A-1 Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
(or the portion of it remaining after distributions on the Class A-SB Certificates pursuant to (A) above in this clause (b)(iii))
for such Distribution Date, until the Certificate Balance of such Class is reduced to zero;

 

(C)     third,
to the Class A-2 Certificates, in reduction of Certificate Balance thereof, an amount equal to the Principal Distribution Amount
(or the portion of it remaining after distributions on the Class A-1 and Class A-SB Certificates pursuant to (A) and (B) above
in this clause (b)(iii)) for such Distribution Date, until the aggregate Certificate Balance of such Class is reduced to zero;

 

(D)      fourth,
to the Class A-3 Certificates in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
(or the portion of it remaining after distributions on the Class A-1, Class A-2 and Class A-SB Certificates pursuant to (A), (B)
and (C) above in this clause (b)(iii)) for such Distribution Date, until the Certificate Balance of such Class is reduced to zero;

 

(E)      fifth,
to the Class A-4 Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
(or the portion of it remaining after distributions on the Class A-1, Class A-2, Class A-SB and Class A-3 Certificates pursuant
to (A), (B), (C) and (D) above in this clause (b)(iii)) for such Distribution Date, until the Certificate Balance of such Class
is reduced to zero; and

 

(F)      sixth,
to the Class A-SB Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution
Amount (or the portion of it remaining after distributions on the Class A-1, Class A-2, Class A-SB, Class A-3 and Class A-4 Certificates
pursuant to (A), (B), (C), (D) and (E) above in this clause (b)(iii)) for such Distribution Date, until the Certificate Balance
of such Class is reduced to zero;

 

(iv)        Fourth,
to the Class A-1, Class A-2, Class A-SB, Class A-3 and Class A-4 Certificates, to the extent not distributed pursuant to all prior
clauses, for the unreimbursed amounts of Realized Losses, if any, an amount equal to, and pro rata based upon, the aggregate
of such unreimbursed Realized Losses previously allocated to those Classes of Certificates;

 

(v)        Fifth,
to the Class A-M Certificates in respect of interest, up to an amount equal to the aggregate Interest Accrual Amount of such Class;

 

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(vi)        Sixth,
to the Class A-M Certificates in respect of interest, up to an amount equal to the aggregate unpaid Class Interest Shortfalls previously
allocated to such Class;

 

(vii)       Seventh,
to the Class A-M Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
less amounts of Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of such
Class is reduced to zero;

 

(viii)     Eighth,
to the Class A-M Certificates, to the extent not distributed pursuant to all prior clauses, for the unreimbursed amounts of Realized
Losses, if any, up to an amount equal to the aggregate of such unreimbursed Realized Losses previously allocated to such Class;

 

(ix)        Ninth,
to the Class B Certificates in respect of interest, up to an amount equal to the aggregate Interest Accrual Amount of such Class;

 

(x)         Tenth,
to the Class B Certificates in respect of interest, up to an amount equal to the aggregate unpaid Class Interest Shortfalls previously
allocated to such Class;

 

(xi)        Eleventh,
to the Class B Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
less amounts of Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of such
Class is reduced to zero;

 

(xii)       Twelfth,
to the Class B Certificates, to the extent not distributed pursuant to all prior clauses, for the unreimbursed amounts of Realized
Losses, if any, up to an amount equal to the aggregate of such unreimbursed Realized Losses previously allocated to such Class;

 

(xiii)      Thirteenth,
to the Class C Certificates in respect of interest, up to an amount equal to the aggregate Interest Accrual Amount of such Class;

 

(xiv)      Fourteenth,
to the Class C Certificates in respect of interest, up to an amount equal to the aggregate unpaid Class Interest Shortfalls previously
allocated to such Class;

 

(xv)       Fifteenth,
to the Class C Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
less amounts of Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of such
Class is reduced to zero;

 

(xvi)      Sixteenth,
to the Class C Certificates, to the extent not distributed pursuant to all prior clauses, for the unreimbursed amounts of Realized
Losses, if any, up to an amount equal to the aggregate of such unreimbursed Realized Losses previously allocated to the such Class;

 

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(xvii)     Seventeenth,
to the Class D Certificates in respect of interest, up to an amount equal to the aggregate Interest Accrual Amount of such Class;

 

(xviii)    Eighteenth,
to the Class D Certificates in respect of interest, up to an amount equal to the aggregate unpaid Class Interest Shortfalls previously
allocated to such Class;

 

(xix)       Nineteenth,
to the Class D Certificates, in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
less amounts of Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of such
Class is reduced to zero;

 

(xx)          Twentieth,
to the Class D Certificates, to the extent not distributed pursuant to all prior clauses, for the unreimbursed amounts of Realized
Losses, if any, up to an amount equal to the aggregate of such unreimbursed Realized Losses previously allocated to such Class;

 

(xxi)         Twenty-first,
to the Class E Certificates in respect of interest, up to an amount equal to the aggregate Interest Accrual Amount of such Class;

 

(xxii)        Twenty-second,
to the Class E Certificates in respect of interest, up to an amount equal to the aggregate unpaid Class Interest Shortfalls previously
allocated to such Class;

 

(xxiii)    Twenty-third,
to the Class E Certificates in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount,
less amounts of Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of such
Class is reduced to zero;

 

(xxiv)     Twenty-fourth,
to the Class E Certificates, to the extent not distributed pursuant to all prior clauses, for the unreimbursed amounts of Realized
Losses, if any, up to an amount equal to the aggregate of such unreimbursed Realized Losses previously allocated to such Class;

 

(xxv)      Twenty-fifth,
to the Class F Certificates in respect of interest, up to an amount equal to the aggregate Interest Accrual Amount of such Class;

 

(xxvi)     Twenty-sixth,
to the Class F Certificates in respect of interest, up to an amount equal to the aggregate unpaid Class Interest Shortfalls previously
allocated to such Class;

 

(xxvii)    Twenty-seventh,
to the Class F Certificates in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
less the amount of the Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of
such Class is reduced to zero;

 

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(xxviii)   Twenty-eighth,
to the Class F Certificates, to the extent not distributed pursuant to all prior clauses, for the unreimbursed amounts of Realized
Losses, if any, up to an amount equal to the aggregate of such unreimbursed Realized Losses previously allocated to such Class;

 

(xxix)     Twenty-ninth,
to the Class G Certificates in respect of interest, up to an amount equal to the aggregate Interest Accrual Amount of such Class;

 

(xxx)      Thirtieth,
to the Class G Certificates in respect of interest, up to an amount equal to the aggregate unpaid Class Interest Shortfalls previously
allocated to such Class;

 

(xxxi)     Thirty-first,
to the Class G Certificates in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
less the amount of the Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of
such Class is reduced to zero;

 

(xxxii)    Thirty-second,
to the Class G Certificates, to the extent not distributed pursuant to all prior clauses, for the unreimbursed amounts of Realized
Losses, if any, up to an amount equal to the aggregate of such unreimbursed Realized Losses previously allocated to such Class;

 

(xxxiii)   Thirty-third,
to the Class H Certificates in respect of interest, up to an amount equal to the aggregate Interest Accrual Amount of such Class;

 

(xxxiv)    Thirty-fourth,
to the Class H Certificates in respect of interest, up to an amount equal to the aggregate unpaid Class Interest Shortfalls previously
allocated to such Class;

 

(xxxv)     Thirty-fifth,
to the Class H Certificates in reduction of the Certificate Balance thereof, an amount equal to the Principal Distribution Amount
less the amount of the Principal Distribution Amount distributed pursuant to all prior clauses, until the Certificate Balance of
such Class is reduced to zero;

 

(xxxvi)    Thirty-sixth,
to the Class H Certificates, to the extent not distributed pursuant to all prior clauses, for the unreimbursed amounts of Realized
Losses, if any, up to an amount equal to the aggregate of such unreimbursed Realized Losses previously allocated to such Class;
and

 

(xxxvii)   Thirty-seventh,
to the Class R Certificates, any amounts remaining in the Upper-Tier Distribution Account, and to the Class LR Certificates, any
amounts remaining in the Lower-Tier Distribution Account.

 

Notwithstanding the foregoing,
on each Distribution Date occurring on or after the Crossover Date, regardless of the allocation of principal payments described
in priority Third above, the Principal Distribution Amount for such Distribution Date will be distributed to the Class A-1,
Class A-2, Class A-SB, Class A-3 and Class A-4 Certificates, pro rata, based

 

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on their respective Certificate Balances, in
reduction of their respective Certificate Balances, until the Certificate Balance of each such Class of Certificates is reduced
to zero.

 

On the first Distribution
Date only, the Certificate Administrator shall withdraw $100 from the Upper-Tier Distribution Account and distribute $100 to the
Class X-B Certificates. Such distribution will be deemed a payment in reduction of principal on the principal balance of the Class
X-B Certificates for federal income tax purposes.

 

(c)        On
each Distribution Date, following the distribution from the Lower-Tier Distribution Account in respect of the Lower-Tier Regular
Interests pursuant to Section 4.01(a) of this Agreement, the Certificate Administrator shall make distributions of any Prepayment
Premiums and Yield Maintenance Charges received in the related Collection Period from amounts deposited in the Upper-Tier Distribution
Account pursuant to Section 3.05(f) of this Agreement, as follows:

 

Prepayment Premiums and
Yield Maintenance Charges received with respect to the Mortgage Loans shall be distributed to the Class A-1, Class A-2, Class A-SB,
Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates in an amount equal to, in the case of each such Class,
the product of (a) a fraction, not greater than one, the numerator of which is the amount distributed as principal to such Class
on such Distribution Date, and whose denominator is the total amount distributed as principal to the Class A-1, Class A-2, Class
A-SB, Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates on such Distribution Date, (b) the Base Interest
Fraction for the related Principal Prepayment and such Class of Certificates and (c) the aggregate amount of the Prepayment Premiums
or the Yield Maintenance Charges, as applicable, collected on such Principal Prepayment during the related Collection Period.

 

Any Yield Maintenance
Charges or Prepayment Premiums collected during the related Collection Period remaining after such distributions described in the
preceding paragraphs (the “IO Group YM Distribution Amount”) shall be allocated and distributed in the following
manner:

 

(i)        to
the Class X-A Certificates, in an amount equal to the product of (a) a fraction, the numerator of which is the aggregate amount
of principal distributed on the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4 and Class A-M Certificates on such Distribution
Date and the denominator of which is the total Principal Distribution Amount for such Distribution Date, multiplied by (b) the
IO Group YM Distribution Amount; 

 

(ii)       to
the Class X-B Certificates, in an amount equal to the product of (a) a fraction, the numerator of which is the aggregate amount
of principal distributed on the Class B and Class C Certificates on such Distribution Date and the denominator of which is the
total Principal Distribution Amount for such Distribution Date, multiplied by (b) the IO Group YM Distribution Amount;

 

(iii)      to
the Class X-C Certificates, in an amount equal to the product of (a) a fraction, the numerator of which is the amount of principal
distributed on the Class D Certificates on such Distribution Date and the denominator of which is the total

 

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Principal Distribution
Amount for such Distribution Date, multiplied by (b) the IO Group YM Distribution Amount;

 

(iv)       to
the Class X-D Certificates, in an amount equal to the product of (a) a fraction, the numerator of which is the aggregate amount
of principal distributed on the Class E and Class F Certificates on such Distribution Date and the denominator of which is the
total Principal Distribution Amount for such Distribution Date, multiplied by (b) the IO Group YM Distribution Amount;

 

(v)        to
the Class X-E Certificates, in an amount equal to the product of (a) a fraction, the numerator of which is the amount of principal
distributed on the Class G Certificates on such Distribution Date and the denominator of which is the total Principal Distribution
Amount for such Distribution Date, multiplied by (b) the IO Group YM Distribution Amount; and

 

(vi)       to
the Class X-F Certificates, the IO Group YM Distribution Amount remaining after such distribution to the holders of the Class X-A,
Class X-B, Class X-C, Class X-D and Class X-E described in clauses (i), (ii), (iii), (iv) and (v) above.

 

(d)        On
each Distribution Date, the Certificate Administrator shall withdraw amounts from the Excess Liquidation Proceeds Account (or sub-account
thereof) and shall distribute such amounts in the following manner:

 

(i)        (A)
from amounts in the Excess Liquidation Proceeds Account allocable to a Mortgage Loan (other than a Mortgage Loan related to a Serviced
Loan Combination), to reimburse the Holders of the Regular Certificates (other than any Class of Class X Certificates), up to an
amount equal to all Realized Losses and Additional Trust Fund Expenses, if any, previously allocated to them and unreimbursed after
application of Available Funds for such Distribution Date; and (B) from amounts in the Excess Liquidation Proceeds Account allocable
to the Serviced Loan Combinations, first, in accordance with the terms of the related Intercreditor Agreement, and then,
to the extent allocated to the related Mortgage Loan, pursuant to the terms of such Intercreditor Agreement, to reimburse the Holders
of the Regular Certificates (other than any Class of Class X Certificates), up to an amount equal to all Realized Losses and Additional
Trust Fund Expenses, if any, previously allocated to them and unreimbursed after application of Available Funds for such Distribution
Date; and

 

(ii)       any
amounts remaining in the Excess Liquidation Proceeds Account after such distributions on any Distribution Date that (A) are allocable
to the Mortgage Loans, shall be held and maintained in such account and applied to offset future Realized Losses and Additional
Trust Fund Expenses from time to time; and (B) are allocable to the Serviced Companion Loans, shall be remitted within one Business
Day after each such Distribution Date by the Certificate Administrator to the Master Servicer (which shall remit to the Serviced
Companion Loan Noteholders in accordance with Section 3.05(h)). On any Distribution Date, amounts held in the Excess Liquidation
Proceeds Account (other than amounts allocable to any related Serviced

 

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Companion Loan pursuant to the terms of any related Intercreditor
Agreement) that exceed amounts reasonably required, as determined by the Certificate Administrator, to offset future Realized Losses
and Additional Trust Fund Expenses shall be distributed to the Holders of the Class LR Certificates (in respect of the Class LTR
Interest) and upon termination of the Trust Fund, any amounts remaining in the Excess Liquidation Proceeds Account (other than
amounts allocable to any related Serviced Companion Loan pursuant to the terms of any related Intercreditor Agreement) shall be
distributed by the Certificate Administrator to the Class LR Certificates (in respect of the Class LTR Interest). Amounts paid
with respect to the Mortgage Loans from the Excess Liquidation Proceeds Account pursuant to the preceding clauses (i) and (ii)
shall first be deemed to have been distributed to the Lower-Tier Regular Interests in reimbursement of Realized Losses and Additional
Trust Fund Expenses previously allocated thereto in the same manner as provided in Section 4.01(a) of this Agreement. Amounts paid
from the Excess Liquidation Proceeds Account will not reduce the Certificate Balances of any Class of Regular Certificates receiving
such distributions.

 

(e)        On
each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01(b), the Certificate
Administrator shall calculate the amount, if any, of Realized Losses. Any allocation of Realized Losses to any Class of Regular
Certificates (other than any Class of Class X Certificates) shall be made by reducing the Certificate Balance thereof by the amount
so allocated. Any Realized Losses so allocated to any Class of Regular Certificates (other than any Class of Class X Certificates)
shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby.
The allocation of Realized Losses shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund.
Reimbursement of previously allocated Realized Losses will not constitute distributions of principal for any purpose and will not
result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement
is made. To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the
Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related
Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Classes of Regular Certificates (other
than any Class of Class X Certificates) that previously were allocated Realized Losses, first, to the Class A-1, Class A-2,
Class A-SB, Class A-3 and Class A-4 Certificates, pro rata, based on their respective Certificate Balances, and then,
to the remainder of the Regular Certificates (other than any Class of Class X Certificates) in sequential order, in each case up
to the amount of the unreimbursed Realized Losses allocated to such Class of Certificates. If the Certificate Balance of any Class
of Certificates is so increased, the amount of unreimbursed Realized Losses of such Class of Certificates shall be decreased by
such amount.

 

The Certificate Balances
of each Class of Regular Certificates (other than any Class of Class X Certificates) will be reduced without distribution on any
Distribution Date as a write-off to the extent of any Realized Losses allocated to such Class of Certificates with respect to such
date. Any such write-offs will be applied to the Classes of Regular Certificates (other than any Class of Class X Certificates)
in the following order, in each case until the Certificate Balance of such Class is reduced to zero: first, to the Class
H Certificates; second, to the Class G Certificates; third, to the Class F Certificates; fourth, to the Class
E Certificates;

 

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fifth, to the Class D Certificates; sixth, to the Class C Certificates; seventh, to the Class
B Certificates; eighth, to the Class A-M Certificates; and finally, to the Class A-1, Class A-2, Class A-SB, Class
A-3 and Class A-4 Certificates, pro rata, based on their respective Certificate Balances. Any amounts recovered in respect
of amounts previously written off as Realized Losses shall be distributed on the Classes of Regular Certificates (other than any
Class of Class X Certificates) in reverse order of allocation of Realized Losses thereto in accordance with Section 4.01(b) of
this Agreement. Additional Trust Fund Expenses and shortfalls in Available Funds due to extraordinary expenses of the Trust Fund
(including indemnification expenses), a reduction in the Mortgage Rate on a Mortgage Loan by a bankruptcy court pursuant to a plan
of reorganization or pursuant to any of its equitable powers, a reduction in the Mortgage Rate or a forgiveness of principal of
a Mortgage Loan, or otherwise, shall be treated as and allocated in the same manner as Realized Losses.

 

With respect to any Distribution
Date, any Realized Losses allocated pursuant to Section 3.06 of this Agreement with respect to such Distribution Date shall reduce
the Lower-Tier Principal Balances of the Lower-Tier Regular Interests as a write-off and shall be allocated among the Lower-Tier
Regular Interests in the same priority as the Class of Corresponding Certificates.

 

(f)        All
amounts distributable to a Class of Certificates pursuant to this Section 4.01 on each Distribution Date shall be allocated pro
rata among the outstanding Certificates in each such Class based on their respective Percentage Interests. Such distributions
shall be made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record
Date, (i) by wire transfer of immediately available funds to the account of such Holder at a bank or other entity located in the
United States and having appropriate facilities therefor if such Holder shall have provided the Paying Agent with wire instructions
in writing at least five Business Days prior to the related Record Date, or (ii) otherwise, by check mailed by first-class mail
to the address set forth therefor in the Certificate Register. The final distribution on each Certificate shall be made in like
manner, but only upon presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent
(which may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of
such final distribution.

 

(g)        Except
as otherwise provided in Section 9.01 with respect to an Anticipated Termination Date, the Certificate Administrator shall, as
soon as reasonably practicable within the month preceding the month in which the final distribution with respect to any Class of
Certificates is expected to be made, mail to each Holder of such Class of Certificates on such date a notice to the effect that:

 

(A)        the
Certificate Administrator reasonably expects based upon information previously provided to it that the final distribution with
respect to such Class of Certificates will be made on such Distribution Date, but only upon presentation and surrender of such
Certificates at the office of the Certificate Administrator therein specified, and

 

(B)        if
such final distribution is made on such Distribution Date, no interest shall accrue on such Certificates from and after such Distribution
Date;

 

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provided, that the Class R and Class
LR Certificates shall remain outstanding until no other Class of Certificates or Lower-Tier Regular Interests are outstanding.

 

Any funds not distributed
to any Holder or Holders of such Classes of Certificates on such Distribution Date because of the failure of such Holder or Holders
to tender their Certificates shall, on such date, be set aside and held in trust for the benefit of the appropriate non-tendering
Holder or Holders. If any Certificates as to which notice has been given pursuant to this Section 4.01(g) shall not have been surrendered
for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice
to the remaining non-tendering Holders to surrender their Certificates for cancellation to receive the final distribution with
respect thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Holders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting such
Holders shall be paid out of such funds. If within two years after the second notice any such Certificates shall not have been
surrendered for cancellation, the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the
Holders thereof, and the Certificate Administrator shall thereafter hold such amounts for the benefit of such Holders until the
earlier of (i) its termination as Certificate Administrator hereunder and the transfer of such amounts to a successor Certificate
Administrator and (ii) the termination of the Trust Fund and, subject to applicable laws, distribution of such amounts to the Class
R Certificateholders. No interest shall accrue or be payable to any Holder on any amount held in trust hereunder or by the Certificate
Administrator as a result of such Holder’s failure to surrender its Certificate(s) for final payment thereof in accordance
with this Section 4.01(g). Any such amounts transferred to the Certificate Administrator may be invested in Permitted Investments
and all income and gain realized from investment of such funds shall accrue for its benefit.

 

(h)        Shortfalls
in Available Funds resulting from Excess Prepayment Interest Shortfalls shall be allocated to, and Master Servicer Prepayment Interest
Shortfall Amounts (or, with respect to any Non-Serviced Mortgage Loan, any analogous amount remitted to the Trust by the related
Other Servicer pursuant to the related Other Pooling and Servicing Agreement) shall be deemed distributed to, each Class of Regular
Certificates and, in each case, correspondingly to the respective Class of Corresponding Lower-Tier Regular Interests, pro rata,
based upon the Interest Accrual Amount distributable to each such Class of Certificates prior to reduction by such Excess Prepayment
Interest Shortfalls. Master Servicer Prepayment Interest Shortfall Amounts shall be deposited by the Master Servicer into the Collection
Account on or prior to the Servicer Remittance Date.

 

(i)        On
the final Servicer Remittance Date, the Master Servicer shall withdraw from the Collection Account and deliver to the Certificate
Administrator who shall distribute to the Mortgage Loan Sellers, any Loss of Value Payments relating to the Mortgage Loans that
it is servicing and that were transferred from the Loss of Value Reserve Fund to the Collection Account on the immediately preceding
Servicer Remittance Date in accordance with Section 3.06(e)(v) of this Agreement.

 

    	-293-

    	 

    

 

(j)        On
each Distribution Date, any Excess Interest received with respect to the Mortgage Loans during the related Collection Period shall
be distributed to the Holders of the Class V Certificates from the Class V Distribution Account established pursuant to Section
3.05(k). Any Excess Interest remaining in the Class V Distribution Account on the final Distribution Date shall be distributed
to the Holders of the Class V Certificates.

 

Section
4.02          Statements to Certificateholders; Reports by Certificate
Administrator; Other Information Available to the Holders and Others. (a) On each Distribution Date, the Certificate
Administrator shall make available to the general public on the Certificate Administrator’s Website a statement
(substantially in the form set forth as Exhibit K to this Agreement and based on the information set forth in (i) the
CREFC® Investor Reporting Package (CREFC® IRP) prepared by the Master Servicer (other than the
CREFC® Special Servicer Loan File) and the other reports prepared by the Master Servicer and Special Servicer
relating to such Distribution Date, including the CREFC® Special Servicer Loan File, upon which
information the Certificate Administrator may conclusively rely, in accordance with CREFC® guidelines and (ii)
the CREFC® Reconciliation of Funds Template prepared by the Certificate Administrator) as to distributions
made on such Distribution Date (each, a “Distribution Date Statement”) setting forth (with respect to each
Class of Certificates) the following information:

 

(i)        the
Record Date, Interest Accrual Period, and Determination Date for such Distribution Date;

 

(ii)       the
aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Sequential Pay Certificates
in reduction of the Certificate Balance of those Certificates;

 

(iii)      the
aggregate amount of the distribution to be made on such Distribution Date to the Holders of each Class of Certificates (other than
the Class V Certificates and the Residual Certificates) allocable to (A) the Interest Accrual Amount and/or (B) Class Interest
Shortfalls;

 

(iv)       the
aggregate amount of Advances made in respect of the Distribution Date and the amount of interest paid on Advances since the prior
Distribution Date (including, to the extent material, the general use of funds advanced and general source of funds for reimbursements);

 

(v)        the
aggregate amount of compensation paid to the Trustee, the Certificate Administrator, CREFC®, the Operating Advisor
and servicing compensation paid to the Master Servicer and the Special Servicer for the related Determination Date and any other
fees or expenses accrued and paid from the Trust Fund;

 

(vi)       the
aggregate Stated Principal Balance of the Mortgage Loans and any REO Loans outstanding immediately before and immediately after
the Distribution Date;

 

(vii)      the
number (as of the related and the next preceding Determination Date), and the aggregate principal balance, weighted average remaining
term to maturity

 

    	-294-

    	 

    

 

and weighted average mortgage rate (and interest rates by distributional groups or ranges) of the Mortgage Loans
as of the related Determination Date;

 

(viii)     the
number and aggregate Stated Principal Balance of the Mortgage Loans or Serviced Loan Combinations (A) delinquent 30-59 days, (B)
delinquent 60-89 days, (C) delinquent 90 days or more, (D) that are Specially Serviced Loans that are not delinquent, or (E) current,
but not Specially Serviced Loans, as to which foreclosure proceedings have been commenced, but not REO Property (and the information
described in Item 1100(b)(5) of Regulation AB to the extent material);

 

(ix)       (i)
the Available Funds for the Distribution Date, (ii) the total amount of all principal and/or interest distributions, as well as
any other distributions (other than Yield Maintenance Charges), properly made on or in respect of any Class of Regular Certificates
with respect to such Distribution Date, and (iii) any other cash flows received on the Mortgage Loans and applied to pay fees and
expenses (including the components of the Available Funds, or such other cash flows);

 

(x)        the
amount of the distribution on the Distribution Date to the holders of any Class of Regular Certificates allocable to Prepayment
Premiums and Yield Maintenance Charges;

 

(xi)       the
accrued Interest Accrual Amount in respect of each Class of Regular Certificates for such Distribution Date;

 

(xii)      the
Pass-Through Rate for each Class of Regular Certificates for the Distribution Date and the next succeeding Distribution Date;

 

(xiii)     the
Principal Distribution Amount for the Distribution Date;

 

(xiv)      the
aggregate Certificate Balance or aggregate Notional Balance, as the case may be, of each Class of Certificates (other than the
Class V Certificates and the Residual Certificates), immediately before and immediately after such Distribution Date, separately
identifying any reduction in the aggregate Certificate Balance (or, if applicable, the aggregate Notional Balance) of each such
Class as a result of the allocation of any Realized Loss and/or Additional Trust Fund Expenses on such Distribution Date;

 

(xv)       the
fraction, expressed as a decimal carried to at least eight places, the numerator of which is the then related Certificate Balance,
and the denominator of which is the related initial aggregate Certificate Balance, for each Class of Regular Certificates immediately
following the Distribution Date;

 

(xvi)      the
amount of any Appraisal Reduction Amounts allocated during the related Collection Period on a loan-by-loan basis; and the total
Appraisal Reduction Amounts as of such Distribution Date on a loan-by-loan basis;

 

(xvii)     the
number and related Stated Principal Balance of any Mortgage Loans modified, extended or waived on a loan-by-loan basis since the
previous Determination

 

    	-295-

    	 

    

 

Date (including a description of any material modifications, extensions or waivers to Mortgage Loan terms,
fees, penalties or payments during the Collection Period or that have cumulatively become material over time);

 

(xviii)    the
amount of any remaining unpaid Class Interest Shortfalls for each Class of Regular Certificates as of the Distribution Date;

 

(xix)      an
loan-by-loan listing of each Mortgage Loan which was the subject of a Principal Prepayment (other than Liquidation Proceeds and
Insurance Proceeds) during the related Collection Period and the amount of Principal Prepayment occurring, together with the aggregate
amount of Principal Prepayments made during the related Collection Period;

 

(xx)       an
loan-by-loan listing of each Mortgage Loan which was defeased since the previous Determination Date;

 

(xxi)      the
amount of the distribution to the holders of each Class of Certificates on the Distribution Date attributable to reimbursement
of Realized Losses;

 

(xxii)     as
to any Mortgage Loan repurchased by a Mortgage Loan Seller or otherwise liquidated or disposed of during the related Collection
Period, (A) the Loan Number of the related Mortgage Loan and (B) the amount of proceeds of any repurchase of a Mortgage Loan, Liquidation
Proceeds and/or other amounts, if any, received thereon during the related Collection Period and the portion thereof included in
the Available Funds for such Distribution Date;

 

(xxiii)    the
amount on deposit in each of the Interest Reserve Account and the Excess Liquidation Proceeds Account before and after giving effect
to the distribution made on such Distribution Date;

 

(xxiv)     the
then-current credit support levels for each Class of Sequential Pay Certificates;

 

(xxv)      the
original and then-current ratings of each Class of Regular Certificates;

 

(xxvi)     with
respect to any REO Loan as to which the related Mortgaged Property became an REO Property during the preceding calendar month,
the city, state, property type, latest Debt Service Coverage Ratio and the current Stated Principal Balance;

 

(xxvii)    with
respect to any REO Property included in the Trust Fund at the close of business on the related Determination Date (A) the Loan
Number of the related Mortgage Loan, (B) the value of such REO Property based on the most recent Appraisal or valuation;

 

(xxviii)   with
respect to any Serviced REO Property sold or otherwise disposed of during the related Collection Period and for which a Final Recovery
Determination

 

    	-296-

    	 

    

 

has been made, (A) the Loan Number of the related Mortgage Loan, (B) the Realized Loss attributable to the related
Mortgage Loan, (C) the amount of sale proceeds and other amounts, if any, received in respect of such Serviced REO Property during
the related Collection Period and the portion thereof included in the Available Funds for such Distribution Date, (D) the date
of the Final Recovery Determination and (E) the balance of the Excess Liquidations Proceeds Account for such Distribution Date;

 

(xxix)     the
amount of the distribution on the Distribution Date to the holders of the Class V Certificates and the Residual Certificates;

 

(xxx)      material
breaches of Mortgage Loan representations and warranties or any covenants under this Agreement of which the Certificate Administrator,
the Trustee, the Operating Advisor, the Master Servicer or the Special Servicer has received or delivered written notice;

 

(xxxi)     the
identity of the Operating Advisor;

 

(xxxii)    the
amount of Realized Losses, Additional Trust Fund Expenses and Class Interest Shortfalls, if any, incurred with respect to the Mortgage
Loans during the related Collection Period and in the aggregate for all prior Collection Periods (except to the extent reimbursed
or paid);

 

(xxxiii)   an
itemized listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its Affiliates during the
related Collection Period;

 

(xxxiv)    the
identity of the Controlling Class;

 

(xxxv)     the
identity of the Controlling Class Representative; and

 

(xxxvi)    such
other information as contemplated by Exhibit K to this Agreement.

 

In the case of information
furnished pursuant to sub-clauses (ii), (iii), (vi), (vi), (vi), (vi) and (xix) above, the amounts shall be expressed as a dollar
amount in the aggregate for all Certificates of each applicable Class and per $1,000 of original Certificate Balance or Notional
Balance, as the case may be.

 

If and for so long as
the Trust is subject to the reporting requirements of the Exchange Act, no Distribution Date Statement that is part of any SEC
filing shall include references to the Rating Agencies or any ratings ascribed by any Rating Agency to any Class of Certificates.

 

On each Distribution
Date, the Certificate Administrator shall make available to each Holder of a Class R or Class LR Certificate a copy of the reports
made available to the other Certificateholders on such Distribution Date and a statement setting forth the amounts, if any, actually
distributed with respect to the Class R or Class LR Certificates on such Distribution Date. Such obligation of the Certificate
Administrator shall be deemed to have been satisfied to the extent that it provided substantially comparable information pursuant
to any requirements of the Code as from time to time in force.

 

    	-297-

    	 

    

 

Within a reasonable period
of time after the end of each calendar year, the Certificate Administrator shall furnish, upon request, to each Person who at any
time during the calendar year was a Certificateholder of record, a report summarizing on an annual basis (if appropriate) the items
provided to Certificateholders pursuant to clauses (i) and (ii) above as to the applicable Class, aggregated for such calendar
year or applicable portion thereof during which such person was a Certificateholder, together with such other information as may
be required to enable such Certificateholders to prepare their federal income tax returns. Such information shall include the amount
of original issue discount accrued on each Class of Certificates held by Persons other than Holders exempted from the reporting
requirements and information regarding the expenses of the Trust Fund. Such requirement shall be deemed to be satisfied to the
extent such information is provided pursuant to applicable requirements of the Code from time to time in force.

 

On each Distribution
Date, the Certificate Administrator shall deliver the related Distribution Date Statement to the Depositor in electronic format
to dbinvestor@list.db.com (or to such other address as the Depositor shall specify by written notice to the Certificate
Administrator).

 

(b)        The
Certificate Administrator shall make available via the Certificate Administrator’s Website, to any Privileged Person (provided
that the Prospectus, the Distribution Date Statements and the SEC filings will be made available to the general public, and provided
further that any Privileged Person that is a Borrower Party shall only be entitled to access documents made available to the general
public) the following items, in each case to the extent received by the Certificate Administrator:

 

(i)            the
following “deal documents”:

 

(A)        the
Prospectus and the Private Placement Memorandum;

 

(B)        this
Agreement, each sub-servicing agreement delivered to the Certificate Administrator from and after the Closing Date (if any), the
Mortgage Loan Purchase Agreements and any amendments and exhibits hereto or thereto; and

 

(C)        the
CREFC® Loan Setup File delivered to the Certificate Administrator by the Master Servicer;

 

(ii)            the
following “SEC filings”:

 

(A)        any
reports on Forms 10-D, 10-K and 8-K that have been filed by the Certificate Administrator with respect to the Trust through the
EDGAR system (to the extent prepared by the Certificate Administrator and within one Business Day of filing);

 

(iii)           the
following “periodic reports”:

 

(A)        the
Distribution Date Statements;

 

    	-298-

    	 

    

 

(B)        the
supplemental reports and the CREFC® data files identified as such in the definition of “CREFC®
Investor Reporting Package (CREFC® IRP)” (other than the CREFC® Loan Setup File), to the
extent it has received or prepared such report or file; and

 

(C)        all
Operating Advisor Annual Reports.

 

(iv)          the
following “additional documents”:

 

(A)        the
summary of any Final Asset Status Report delivered to the Certificate Administrator in electronic format; and

 

(B)        any
other Third Party Reports (or updates thereto) delivered to the Certificate Administrator in electronic format;

 

(v)           the
following “special notices”:

 

(A)        all
Special Notices;

 

(B)        notice
of any waiver, modification or amendment of any term of any Mortgage Loan;

 

(C)        notice
of final payment on the Certificates;

 

(D)        all
notices of the occurrence of any Servicer Termination Events received by the Certificate Administrator;

 

(E)        notice
of termination or resignation of the Master Servicer, the Special Servicer, the Operating Advisor or the Trustee (and appointments
of successors to the Master Servicer, the Special Servicer, the Operating Advisor or the Trustee);

 

(F)        any
and all Officer’s Certificates and other evidence delivered to or by the Certificate Administrator to support its or the
Master Servicer’s, the Trustee’s or the Special Servicer’s, as the case may be, determination that any Advance
was (or, if made, would be) a Nonrecoverable Advance;

 

(G)        any
notice of the termination of the Trust;

 

(H)        any
notice of the occurrence and continuance of a Control Termination Event;

 

(I)        any
notice of the occurrence and continuance of a Consultation Termination Event;

 

(J)        all
of the annual compliance statements and annual assessments as to compliance delivered to the Certificate Administrator since the
Closing Date pursuant to Section 10.11 and Section 10.12 of this Agreement; and

 

    	-299-

    	 

    

 

(K)        all
of the annual independent public accountants’ servicing reports caused to be delivered to the Certificate Administrator since
the Closing Date pursuant to Section 10.13 of this Agreement;

 

(vi)          the
Investor Q&A Forum; and

 

(vii)         solely
to Certificateholders and Beneficial Owners, the Investor Registry.

 

Notwithstanding the foregoing,
all Excluded Information shall be made available under a separate tab or heading designated “Excluded Information”
(and not under any of the tabs or headings described in items (i) through (vii) above) and made available to Privileged Persons
other than Excluded Controlling Class Holders (unless loan-by-loan segregation is later performed by the Certificate Administrator
in which case such access by an Excluded Controlling Class Holder shall only be prohibited with respect to the related Excluded
Controlling Class Mortgage Loans).

 

Any Privileged Person
that is a Borrower Party shall only be entitled to access (a) the Distribution Date Statements, and the following items made available
to the general public: the Prospectus Supplement, this Agreement, the Mortgage Loan Purchase Agreements and the SEC filings on
the Certificate Administrator’s Website, and (b) in the case of the Controlling Class Representative or a Controlling Class
Certificateholder, if any such Person becomes an Excluded Controlling Class Holder, upon delivery to the Master Servicer, the Special
Servicer, the Operating Advisor, the Certificate Administrator and the Trustee in physical form of an investor certification substantially
in the forms of Exhibit L-1D and Exhibit L-1E and upon delivery to the Certificate Administrator in physical form
of an investor certification substantially in the form of Exhibit L-1F, which shall include each of the CTSLink User ID’s
associated with such Excluded Controlling Class Holder, all information (other than Excluded Information) available on the Certificate
Administrator’s Website (unless loan-by-loan segregation is later performed by the Certificate Administrator in which case
such access by an Excluded Controlling Class Holder shall only be prohibited with respect to the related Excluded Controlling Class
Mortgage Loans).

 

In the case of the Controlling
Class Representative or a Controlling Class Certificateholder that is not an Excluded Controlling Class Holder, upon delivery of
an investor certification substantially in the form of Exhibit L-1B hereto, such Controlling Class Representative or Controlling
Class Certificateholder shall be entitled to access all information on the Certificate Administrator’s Website. The Master
Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator and the Trustee may each rely on (i) an investor
certification in the form of Exhibit L-1B hereto from the Controlling Class Representative or a Controlling Class Certificateholder
to the effect that such Person is not an Excluded Controlling Class Holder and (ii) an investor certification in the form of Exhibit
L-1D hereto from the Controlling Class Representative or a Controlling Class Certificateholder to the effect that such Person
is an Excluded Controlling Class Holder with respect to one or more Excluded Controlling Class Mortgage Loan(s). In the event the
Controlling Class Representative or a Controlling Class Certificateholder becomes an Excluded Controlling Class Holder, such party
shall promptly notify each of the Master Servicer, the Special Servicer, the

 

    	-300-

    	 

    

 

Operating Advisor, the Certificate Administrator and
the Trustee in writing substantially in the form of Exhibit L-1E that such party is an Excluded Controlling Class Holder
and identify the Excluded Controlling Class Mortgage Loan(s) and thereafter shall not be entitled to any Excluded Information related
to such Excluded Controlling Class Mortgage Loan(s) and made available on the Certificate Administrator’s Website. With respect
to any Excluded Information, each of the Master Servicer, the Special Servicer and the Operating Advisor shall mark or label such
information as “Excluded Information” prior to delivery to the Certificate Administrator, and the Certificate Administrator
shall segregate on the Certificate Administrator’s Website such Excluded Information (and may be segregated on loan-by-loan
basis) from information relating to other Mortgage Loans. Notwithstanding anything herein to the contrary, each of the Master Servicer,
the Special Servicer, the Operating Advisor and the Certificate Administrator shall be entitled to conclusively assume that the
Controlling Class Representative and all beneficial owners of the Certificates of the Controlling Class are not Excluded Controlling
Class Holders except to the extent that the Master Servicer, the Special Servicer, the Operating Advisor or the Certificate Administrator,
as applicable, has received such notice from the Controlling Class Representative or a Controlling Class Certificateholder that
it has become an Excluded Controlling Class Holder. None of the Master Servicer, the Special Servicer, the Operating Advisor or
the Certificate Administrator shall be liable for any communication to the Controlling Class Representative or Controlling Class
Certificateholder or disclosure of Excluded Information if the Master Servicer, the Special Servicer, the Operating Advisor or
the Certificate Administrator, as applicable, did not receive prior written notice that the related Mortgage Loan is an Excluded
Controlling Class Mortgage Loan (including, in the case of an Asset Status Report or Final Asset Status Report delivered to the
Certificate Administrator for posting to the Certificate Administrator’s Website and/or any failure to label any such information
provided to the Certificate Administrator).

 

Each of the Master Servicer,
the Special Servicer, the Operating Advisor and the Certificate Administrator shall be entitled to conclusively rely on (i) any
written notice from the Controlling Class Representative or a Controlling Class Certificateholder that it is no longer an Excluded
Controlling Class Holder and (ii) any certification delivered by the Controlling Class Representative or a Controlling Class Certificateholder,
as applicable, substantially in the form of Exhibit L1-B that such Person is no longer an Excluded Controlling Class Holder.
To the extent the Controlling Class Representative or a Controlling Class Certificateholder receives access pursuant to this Agreement
to any Excluded Information on the Certificate Administrator’s Website or otherwise receives access to such Excluded Information,
such Controlling Class Representative or Controlling Class Certificateholder shall be deemed to have agreed that it (i) will not
directly or indirectly provide any information related to the Excluded Controlling Class Mortgage Loan to the related Borrower
or to any Excluded Controlling Class Holder or (A) any employees or personnel of such Controlling Class Representative or Controlling
Class Certificateholder or any Affiliate involved in the management of any investment in the related Borrower or the related Mortgaged
Property or (B) to its actual knowledge, any non-Affiliate that holds a direct or indirect ownership interest in the related Borrower,
and (ii) will maintain sufficient internal controls and appropriate policies and procedures in place in order to comply with the
obligations described in clause (i) above.

 

The Certificate Administrator
makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor.
In

 

    	-301-

    	 

    

 

addition, the Certificate Administrator may disclaim responsibility for any information distributed by the Certificate Administrator
for which it is not the original source. The Certificate Administrator shall not be responsible for the accuracy or completeness
of any information supplied to it by the Master Servicer or Special Servicer that is included in any reports, statements, materials
or information prepared or provided by the Master Servicer or Special Servicer, as applicable, and the Certificate Administrator
shall be entitled to conclusively rely upon the Master Servicer’s reports and the Special Servicer’s reports without
any duty or obligation to recompute, verify or re-evaluate any of the amounts or other information stated therein. In connection
with providing access to the Certificate Administrator’s Website, the Certificate Administrator may require registration
and the acceptance of a disclaimer. The Certificate Administrator shall not be liable for the dissemination of information in accordance
herewith. Notwithstanding anything herein to the contrary, the Certificate Administrator shall not be liable for any Excluded Information
to the extent such information was included in the Asset Status Report or the Final Asset Status Report delivered to the Certificate
Administrator for posting to the Certificate Administrator’s Website and not properly identified as Excluded Information.

 

The Certificate Administrator
shall have no liability for access by an Excluded Controlling Class Holder to the Certificate Administrator’s Website of
any information with respect to which such Excluded Controlling Class Holder is prohibited from accessing pursuant to this Agreement
if such Excluded Controlling Class Holder provided an Investor Certification but did not indicate it was a Borrower Party.

 

The provisions in this
Section shall not limit the Master Servicer’s ability to make accessible certain information regarding the Mortgage Loans
at the Master Servicer’s Website.

 

In providing access to
any information, the Certificate Administrator shall be entitled to rely on the certifications delivered to it pursuant to and
in accordance with the terms of this Agreement.

 

(c)        The
Certificate Administrator shall make available, only to Privileged Persons, the Investor Q&A Forum. The “Investor Q&A
Forum” shall be a service available on the Certificate Administrator’s Website, where (i) Certificateholders and Beneficial
Owners may (A) submit questions to the Certificate Administrator relating to the Distribution Date Statement, (B) submit questions
to the Master Servicer or the Special Servicer, as applicable, relating to the reports being made available pursuant to this Section
4.02(c), the Mortgage Loans or the Mortgaged Properties (other than a Non-Serviced Mortgage Loan or related Mortgaged Properties)
and (C) submit questions to the Operating Advisor relating to the Operating Advisor Annual Reports or actions by the Master Servicer
or the Special Servicer as to which the Operating Advisor has consultation rights, whether or not referenced in any Operating Advisor
Annual Reports (collectively, “Inquiries”), and (ii) Privileged Persons may view Inquiries that have been previously
submitted and answered, together with the answers thereto. Upon receipt of an Inquiry for the Master Servicer, the Special Servicer
or the Operating Advisor, the Certificate Administrator shall forward the Inquiry to the Master Servicer, the Special Servicer
or the Operating Advisor, as applicable, (and in the case of an inquiry relating to a Non-Serviced Mortgage Loan, to the applicable
party under the Other

 

    	-302-

    	 

    

 

Pooling and Servicing Agreement) in each case within a commercially reasonable period following receipt thereof.
Following receipt of an Inquiry, the Certificate Administrator, the Master Servicer, the Special Servicer (other than with respect
to the Non-Serviced Mortgage Loans or related Mortgaged Properties) or the Operating Advisor, as applicable, unless it determines
not to answer such Inquiry as provided below, shall reply to the Inquiry, which reply of the Master Servicer, Special Servicer
or the Operating Advisor shall be sent by email to the Certificate Administrator. The Certificate Administrator shall post (within
a commercially reasonable period following preparation or receipt of such answer, as the case may be) such Inquiry and the related
answer to the Investor Q&A Forum. If the Certificate Administrator, the Master Servicer, the Special Servicer or the Operating
Advisor determines, in its respective sole discretion, that (i) any Inquiry is beyond the scope outlined above, (ii) answering
any Inquiry would not be in the best interests of the Trust and/or the Certificateholders, (iii) answering any Inquiry would be
in violation of applicable law, this Agreement or the applicable Loan Documents, (iv) answering any Inquiry would or is reasonably
expected to result in a waiver of an attorney-client privilege or the disclosure of attorney work product, (v) answering any Inquiry
would materially increase the duties of, or result in significant additional cost or expense to, the Certificate Administrator,
the Master Servicer, the Special Servicer or the Operating Advisor, as applicable, or (vi) answering any Inquiry is otherwise not
advisable for any reason, it shall not be required to answer such Inquiry and, in the case of the Master Servicer, the Special
Servicer or the Operating Advisor, shall promptly notify the Certificate Administrator, and the Certificate Administrator shall
not post such Inquiry on the Investor Q&A Forum. In addition, no party shall post or otherwise disclose information known to
such party to be Privileged Information as part of its response to any Inquiry. The Certificate Administrator shall notify the
Person who submitted such Inquiry if the Inquiry will not be answered. The Certificate Administrator shall not be required to post
to the Investor Q&A Forum any Inquiry or answer thereto that the Certificate Administrator determines, in its sole discretion,
is administrative or ministerial in nature. The Investor Q&A Forum will not reflect questions, answers and other communications
between the Certificate Administrator or other Person which are not submitted via the Investor Q&A Forum. In addition, no party
is permitted to post or otherwise disclose direct communication with the Directing Holder as part of its response to any questions.

 

(d)        The
Certificate Administrator shall make available to any Certificateholder and Beneficial Owner, the Investor Registry. The “Investor
Registry” shall be a voluntary service available on the Certificate Administrator’s Website, where Certificateholders
and Beneficial Owners can register and thereafter obtain contact information with respect to any other Certificateholder or Beneficial
Owner that has so registered. Any person registering to use the Investor Registry will be required to certify that (a) it is a
Certificateholder or a Beneficial Owner and (b) it grants authorization to the Certificate Administrator to make its name and contact
information available on the Investor Registry for at least 45 days from the date of such certification to other registered Certificateholders
and registered Beneficial Owners. Such Person shall then be asked to enter certain mandatory fields such as the individual’s
name, the company name and email address, as well as certain optional fields such as address, phone, and Class(es) of Certificates
owned. If any Certificateholder or Beneficial Owner notifies the Certificate Administrator that it wishes to be removed from the
Investor Registry (which notice may not be within 45 days of its registration), the Certificate Administrator shall promptly remove
it from the Investor Registry.

 

    	-303-

    	 

    

 

The Certificate Administrator will not be responsible for verifying or validating any information
submitted on the Investor Registry, or for monitoring or otherwise maintaining the accuracy of any information thereon. The Certificate
Administrator may require acceptance of a waiver and disclaimer for access to the Investor Registry.

 

(e)        The
Master Servicer may at its sole cost and expense, but is not required to, make any of the reports or files it delivers pursuant
to this Agreement available on the Master Servicer’s Website only with the use of a password, in which case the Master Servicer
shall provide such password to (i) the other parties to this Agreement, who by their acceptance of such password shall be deemed
to have agreed not to disclose such password to any other Person and (ii) each Certificateholder and prospective Certificateholder
who requests such password, provided that any such Certificateholder or prospective Certificateholder, as the case may be,
has delivered an Investor Certification to the Trustee, the Certificate Administrator and the Master Servicer. In connection with
providing access to the Master Servicer’s Website, the Master Servicer may require registration and the acceptance of a disclaimer
and otherwise (subject to the preceding sentence) adopt reasonable rules and procedures, which may include, to the extent the Master
Servicer deems necessary or appropriate, conditioning access on execution of an agreement governing the availability, use and disclosure
of such information, and which may provide indemnification to the Master Servicer for any liability or damage that may arise therefrom.
The Master Servicer shall not be liable for dissemination of this information in accordance with this Agreement, provided
that such information otherwise meets the requirements set forth herein with respect to the form and substance of such information
or reports. The Master Servicer shall be entitled to attach to any report provided pursuant to this subsection, any reasonable
disclaimer with respect to information provided, or any assumptions required to be made by such report. Notwithstanding anything
herein to the contrary, the Master Servicer may, at its sole cost and expense, make available by electronic media, bulletin board
service or Internet website any reports or other information the Master Servicer is required or permitted to provide to any Borrower
with respect to such Borrower’s Mortgage Loan or Serviced Loan Combination to the extent such action does not conflict with
the terms of this Agreement, the terms of the related Loan Documents or applicable law. If the Master Servicer is required to deliver
any statement, report or other information under any provision of this Agreement, then, the Master Servicer may satisfy such obligation
by (x) physically delivering a paper copy of such statement, report or information, (y) delivering such statement, report or information
in a commonly used electronic format, or (z) making such statement, report or information available on its website, unless this
Agreement expressly specifies a particular method of delivery; provided that all reports required to be delivered to the
Certificate Administrator shall be delivered in accordance with clause (x) or (y) or, upon request, clause (z).

 

Subject to Section 3.13,
the Special Servicer shall from time to time (and, in any event, as may be reasonably required by the Master Servicer) provide
the Master Servicer with such information in its possession regarding the Specially Serviced Loans and REO Properties as may be
reasonably necessary for the Master Servicer to prepare each report and any supplemental information to be provided by the Master
Servicer to the Certificate Administrator. Neither the Certificate Administrator nor the Depositor shall have any obligation to
recompute, verify or recalculate the information provided thereto by the Master Servicer. Unless the Certificate Administrator
has actual knowledge that any report or file

 

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received from the Master Servicer contains erroneous information, the Certificate
Administrator is authorized to rely thereon in calculating and making distributions to Certificateholders and allocating Realized
Losses to the Certificates in accordance with Section 4.01 of this Agreement and preparing the statements to Certificateholders
required by Section 4.02(a) of this Agreement.

 

(f)        As
soon as reasonably practicable, upon the written request of and at the expense of any Certificateholder, the Certificate Administrator
shall provide the requesting Certificateholder with such information that is in the Certificate Administrator’s possession
or can reasonably be obtained by the Certificate Administrator as is requested by such Certificateholder, for purposes of satisfying
applicable reporting requirements under Rule 144A under the Securities Act. Neither the Certificate Registrar nor the Certificate
Administrator shall have any responsibility for the sufficiency under Rule 144A or any other securities laws of any available information
so furnished to any person including any prospective purchaser of a Certificate or any interest therein, nor for the content or
accuracy of any information so furnished which was prepared or delivered to them by another.

 

(g)        The
Certificate Administrator shall make available at its offices, during normal business hours, upon not less than two Business Days
prior notice, for review by any Privileged Person and any Serviced Companion Loan Noteholder that is a Privileged Person (solely
with respect to items (ii) and (iii), to the extent such information relates to the related Serviced Companion Loan), originals
or copies of documents relating to the Mortgage Loans and any related REO Properties to the extent in its possession, including,
without limitation, the following items (except to the extent prohibited by applicable law or under any of the related Loan Documents):

 

(i)          any
and all notices and reports delivered to the Certificate Administrator with respect to any Mortgaged Property as to which the environmental
testing contemplated by Section 3.10(e) of this Agreement revealed that neither of the conditions set forth in clauses (i) and
(ii) thereof was satisfied;

 

(ii)         the
most recent annual (or more frequent, if available) operating statements, rent rolls (to the extent such rent rolls have been made
available by the related Borrower) and/or lease summaries and retail sales information, if any, received from the Master Servicer
or the Special Servicer in respect to each Mortgaged Property;

 

(iii)        the
Mortgage File, including any and all modifications, waivers and amendments of the terms of a Mortgage Loan or Serviced Loan Combination
entered into by the Master Servicer and/or the Special Servicer and delivered to the Certificate Administrator; and

 

(iv)        any
other information that may be necessary to satisfy the requirements of subsection (d)(4)(i) of Rule 144A under the Securities Act.

 

The Certificate Administrator
may require a Privileged Person to execute an Investor Certification or a Serviced Companion Loan Noteholder Certification, as
applicable, prior to granting access to such information, which may be in the form of a “click-through”

  

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confirmation.
Copies of any and all of the foregoing items will be available from the Certificate Administrator upon request. The Certificate
Administrator will be permitted to require payment by the requesting party (other than a Rating Agency) of a sum sufficient to
cover the reasonable costs and expenses of making such information available and providing any copies thereof. The Certificate
Administrator’s obligation under this Section 4.02(g) to make available any document is subject to the Certificate Administrator’s
receipt of such document.

 

The Certificate Administrator
shall not be liable for providing or disseminating information in accordance with the terms of this Agreement.

 

(h)        The
Depositor hereby authorizes the Certificate Administrator to make available to any Financial Market Publisher or such other vendor
chosen by the Depositor that submits to the Certificate Administrator a certification substantially in the form of Exhibit L-2
to this Agreement, all the Distribution Date Statements, CREFC® reports and supplemental notices delivered or made
available pursuant to this Section 4.02 to Privileged Persons.

 

Section
4.03          Compliance with Withholding Requirements.
Notwithstanding any other provision of this Agreement, the Paying Agent shall comply with all federal withholding
requirements with respect to payments to Certificateholders and other payees of interest, original issue discount or other
amounts that the Paying Agent reasonably believes are applicable under the Code. The consent of Certificateholders or payees
shall not be required for any such withholding. If the Paying Agent or its agent withholds any amount from interest,
original issue discount payments or other amounts or advances thereof to any Certificateholder or payee pursuant to federal
withholding requirements, the Paying Agent shall indicate the amount withheld to such Person. Any amount so withheld shall be
treated as having been distributed to such Certificateholder for all purposes of this Agreement.

 

For the avoidance of
doubt, the Collection Account, the Interest Reserve Account, the Excess Liquidation Proceeds Account, the REO Account and the Lower-Tier
Distribution Account (including interest, if any, earned on the investment of funds in such account) will be owned by the Lower-Tier
REMIC, and the Upper-Tier Distribution Account will be owned by the Upper-Tier REMIC, each for federal income tax purposes.

 

Section
4.04          REMIC Compliance. (a) The parties intend that the
Lower-Tier REMIC and the Upper-Tier REMIC shall constitute, and that the affairs of the Lower-Tier REMIC and the Upper-Tier
REMIC shall be conducted so as to qualify it as, a “real estate mortgage investment conduit” as defined in, and
in accordance with, the REMIC Provisions at all times any Certificates are outstanding, and the provisions hereof shall be
interpreted consistently with this intention. In furtherance of such intention, the Certificate Administrator shall, to the
extent permitted by applicable law, act as agent, and is hereby appointed to act as agent, of each such REMIC and shall on
behalf of each such REMIC:

 

(i)             make
or cause to be made an election, on behalf of each of the Lower-Tier REMIC and the Upper-Tier REMIC, to be treated as a REMIC on
Form 1066 for its first taxable year, in accordance with the REMIC Provisions;

 

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(ii)            prepare
and timely file, or cause to be prepared and timely filed, and cause the Trustee to sign (and the Trustee shall sign), all required
Tax Returns for the Lower-Tier REMIC and the Upper-Tier REMIC, using a calendar year as the taxable year for each of such REMIC
as required by the REMIC Provisions and other applicable federal, state or local income tax laws;

 

(iii)           prepare
and forward, or cause to be prepared and forwarded, to the Certificateholders and the IRS and applicable state and local tax authorities
all information reports as and when required to be provided to them in accordance with the REMIC Provisions;

 

(iv)          if
the filing or distribution of any documents of an administrative nature not addressed in clauses (i) through (iii) of this Section
4.04(a) is then required by the REMIC Provisions in order to maintain the status of the Lower-Tier REMIC and the Upper-Tier REMIC
as a REMIC or is otherwise required by the Code, prepare and file or distribute, or cause to be prepared and signed and filed or
distributed, such documents with or to such Persons when and as required by the REMIC Provisions or the Code or comparable provisions
of state and local law;

 

(v)           within
30 days of the Closing Date, obtain a taxpayer identification number for each of the Lower-Tier REMIC and the Upper-Tier REMIC
on IRS Form SS-4 and (in the case of the Upper-Tier REMIC only), furnish or cause to be furnished to the IRS, on Form 8811 or as
otherwise may be required by the Code, the name, title and address of the person that the Certificateholders may contact for tax
information relating thereto (and the Certificate Administrator shall act as the representative of the Upper-Tier REMIC for this
purpose), together with such additional information as may be required by such Form, and shall update such information at the time
or times and in the manner required by the Code (and the Depositor agrees within 10 Business Days of the Closing Date to provide
any information reasonably requested by the Master Servicer, the Special Servicer or the Certificate Administrator and necessary
to make such filing); and

 

(vi)          maintain
such records relating to the Lower-Tier REMIC and the Upper-Tier REMIC as may be necessary to prepare the foregoing returns, schedules,
statements or information, such records, for federal income tax purposes, to be maintained on a calendar year and on an accrual
basis.

 

The Holder of the largest
Percentage Interest in the Class R Certificates shall be the tax matters person of the Upper-Tier REMIC, and the Holder of the
largest Percentage Interest in the Class LR Certificates shall be the tax matters person of the Lower-Tier REMIC pursuant to Treasury
Regulations Section 1.860F-4(d). If more than one Holder shall hold an equal Percentage Interest in the Class R or Class LR Certificates
larger than that held by any other Holder, the first such Holder to have acquired such Class R or Class LR Certificates shall be
such tax matters person. The Certificate Administrator shall act as attorney-in-fact and agent for the tax matters person of the
Lower-Tier REMIC and the Upper-Tier REMIC, and each Holder of a Percentage Interest in the Class R or Class LR Certificates, by
acceptance

 

    	-307-

    	 

    

 

hereof, is deemed to have consented to the Certificate Administrator’s appointment in such capacity and agrees
to execute any documents required to give effect thereto, and any fees and expenses incurred by the Certificate Administrator in
connection with any audit or administrative or judicial proceeding shall be paid by the Trust Fund.

 

The Certificate Administrator
shall not intentionally take any action or intentionally omit to take any action if, in taking or omitting to take such action,
the Certificate Administrator has actual knowledge that such action or omission (as the case may be) would cause the termination
of the REMIC status of the Lower-Tier REMIC or the Upper-Tier REMIC or the imposition of tax on the Lower-Tier REMIC or the Upper-Tier
REMIC (other than a tax on income expressly permitted to be received by the terms of this Agreement). Notwithstanding any provision
of this paragraph to the contrary, the Certificate Administrator shall not be required to take any action that the Certificate
Administrator in good faith believes to be inconsistent with any other provision of this Agreement, nor shall the Certificate Administrator
be deemed in violation of this paragraph if it takes any action expressly required or authorized by any other provision of this
Agreement, and the Certificate Administrator shall have no responsibility or liability with respect to any act or omission of the
Depositor, the Trustee, the Master Servicer or the Special Servicer which does not enable the Certificate Administrator to comply
with any of clauses (i) through (vi) of the first paragraph of this Section 4.04(a) or which results in any action contemplated
by clauses (i) or (ii) of the next succeeding sentence. In this regard the Certificate Administrator shall (i) exercise reasonable
care not to allow the occurrence of any “prohibited transactions” within the meaning of Section 860F(a) of the Code,
unless the party seeking such action shall have delivered to the Certificate Administrator an Opinion of Counsel (at such party’s
expense) that such occurrence would not (A) result in a taxable gain, (B) otherwise subject the Lower-Tier REMIC or the Upper-Tier
REMIC to tax (other than a tax at the highest marginal corporate tax rate on net income from foreclosure property), or (c) cause
the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC; and (ii) exercise reasonable care not to allow the
Trust Fund to receive any contributions, or any income from the performance of services or from assets not permitted under the
REMIC Provisions to be held by a REMIC (provided, that the receipt of any income expressly permitted or contemplated by
the terms of this Agreement shall not be deemed to violate this clause). None of the Master Servicer, the Special Servicer, the
Trustee or the Depositor shall be (i) permitted to take any action that the Certificate Administrator would not be permitted to
take pursuant to the preceding two sentences or (ii) responsible or liable (except in connection with taking any act or omission
referred to in the two preceding sentences or the following sentence) for any failure by the Certificate Administrator to comply
with the provisions of this Section 4.04. The Depositor, the Trustee, the Master Servicer and the Special Servicer shall cooperate
in a timely manner with the Certificate Administrator in supplying any information within the Depositor’s, the Trustee’s,
the Master Servicer’s or the Special Servicer’s control (other than any confidential information) that is reasonably
necessary to enable the Certificate Administrator to perform its duties under this Section 4.04.

 

(b)        The
following assumptions are to be used for purposes of determining the anticipated payments of principal and interest for calculating
the original yield to maturity and original issue discount with respect to the Regular Certificates: (i) each Mortgage Loan will
pay principal and interest in accordance with its terms and scheduled payments will be

 

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timely received on their Due Dates, provided
that the Mortgage Loans will prepay in accordance with the Prepayment Assumption; (ii) none of the Sole Certificateholder, the
Master Servicer, the Special Servicer and the Certificateholder owning a majority of the Percentage Interests in the Controlling
Class will exercise the right described in Section 9.01 of this Agreement to cause early termination of the Trust Fund; and (iii)
no Mortgage Loan is repurchased by a Mortgage Loan Seller pursuant to the terms of the related Mortgage Loan Purchase Agreement.

 

Section 4.05          Imposition
of Tax on the Trust Fund. If any tax, including interest, penalties or assessments, additional amounts or additions to tax,
is imposed on the Lower-Tier REMIC or the Upper-Tier REMIC, such tax shall be charged against amounts otherwise distributable
to the Holders of the Certificates; provided that any taxes imposed on any net income from foreclosure property pursuant
to Section 860G(d) of the Code or any similar tax imposed by a state or local jurisdiction shall instead be treated as an expense
of the related Serviced REO Property in determining Net REO Proceeds with respect to the Serviced REO Property (and until such
taxes are paid, the Special Servicer from time to time shall withdraw from amounts in the REO Account (and, in the case of any
Serviced Loan Combination, from amounts in the Serviced Loan Combination REO Account) allocable to the Mortgage Loans and transfer
to the Certificate Administrator amounts reasonably determined by the Certificate Administrator to be necessary to pay such taxes,
which the Certificate Administrator shall maintain in a separate, non-interest-bearing account, and the Certificate Administrator
shall send to the Special Servicer for deposit in the REO Account (or, if applicable, the Serviced Loan Combination REO Account)
the excess determined by the Certificate Administrator from time to time of the amount in such account over the amount necessary
to pay such taxes) and shall be paid therefrom; provided that any such tax imposed on net income from foreclosure property
that exceeds the amount in any such reserve shall be retained from Available Funds as provided in Section 3.06(a)(xii) or, in
the case of any Serviced Loan Combination, in Section 3.06(b)(xiii), and the next sentence. Except as provided in the preceding
sentence, the Certificate Administrator is hereby authorized to and shall retain or cause to be retained from Available Funds
sufficient funds to pay or provide for the payment of, and to actually pay, such tax as is legally owed by the applicable REMIC
(but such authorization shall not prevent the Trustee from contesting, at the expense of the Trust Fund or in the case of a Serviced
Loan Combination with a Serviced Pari Passu Companion Loan, on a pro rata basis as between the related Mortgage Loan and
any related Serviced Pari Passu Companion Loan (based on their respective outstanding principal balances)) any such tax in appropriate
proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The Certificate
Administrator is hereby authorized to and shall segregate or cause to be segregated, into a separate non-interest bearing account,
(i) the net income allocable to the Mortgage Loans from any “prohibited transaction” under Section 860F(a) of the
Code or (ii) the amount of any contribution to the Lower-Tier REMIC or the Upper-Tier REMIC after the Startup Day that is subject
to tax under Section 860G(d) of the Code and use such income or amount, to the extent necessary, to pay such tax (and return the
balance thereof, if any, to the Collection Account, the Lower-Tier Distribution Account or the Upper-Tier Distribution Account,
as the case may be). To the extent that any such tax is paid to the IRS, the Certificate Administrator shall retain an equal amount
from future amounts otherwise distributable to the Holders of the Class R or the Class LR Certificates, as the case may be, and
shall distribute such retained amounts to the

 

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Holders of Regular Certificates, or the
Trustee as Holder of the Lower-Tier Regular Interests, until they are fully reimbursed and then to the Holders of the Class R Certificates
or the Class LR Certificates, as applicable. Neither the Master Servicer, the Special Servicer, the Certificate Administrator,
nor the Trustee shall be responsible for any taxes imposed on the Lower-Tier REMIC or the Upper-Tier REMIC except to the extent
such tax is attributable to a breach of a representation or warranty or the negligence or willful misconduct of the Master Servicer,
the Special Servicer, the Certificate Administrator or the Trustee or an act or omission of the Master Servicer, the Special Servicer,
the Certificate Administrator or the Trustee in contravention of this Agreement, provided, further, that such breach,
act or omission could result in liability under Section 6.03 of this Agreement, in the case of the Master Servicer, Section 4.04
of this Agreement, in the case of the Trustee or Section 4.04 of this Agreement, in the case of the Certificate Administrator in
accordance with the standard of liability set forth in those sections. Notwithstanding anything in this Agreement to the contrary,
in each such case, the Master Servicer or the Special Servicer shall not be responsible for the Trustee’s or the Certificate
Administrator’s breaches, acts or omissions, the Trustee shall not be responsible for the breaches, acts or omissions of
the Certificate Administrator, the Master Servicer or the Special Servicer and the Certificate Administrator shall not be responsible
for the breaches, acts or omissions of the Trustee, the Master Servicer or the Special Servicer.

 

The Certificate Administrator
shall be responsible for the preparation of the related IRS Form W-9, if such form is requested. The Trustee shall be entitled
to rely on the information contained therein, and is hereby directed to execute such IRS Form W-9; provided, however, the Certificate
Administrator shall also be directed to execute such IRS Form W-9 (in lieu of the Trustee) if permitted by IRS regulations.

 

Section
4.06          Remittances. On the Servicer Remittance Date
immediately preceding each Distribution Date, the Master Servicer with respect to the Mortgage Loans that it is servicing
shall:

 

(i)             remit
to the Certificate Administrator for deposit in the Lower-Tier Distribution Account an amount equal to Prepayment Premiums and
Yield Maintenance Charges, and, for deposit in accordance with Section 3.05(i) of this Agreement, Excess Liquidation Proceeds,
in each case received by the Master Servicer in the Collection Period preceding such Distribution Date;

 

(ii)            remit
to the Certificate Administrator for deposit in the Lower-Tier Distribution Account an amount equal to the Available Funds in the
Collection Account for such Distribution Date;

 

(iii)           remit
to the Certificate Administrator for deposit in the Class V Distribution Account an amount equal to the Excess Interest for the
benefit of the Class V Certificateholders received by the Master Servicer in the Collection Period preceding such Distribution
Date; and

 

(iv)           remit
to CREFC® the CREFC® License Fee.

 

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Section 4.07     P&I
Advances. (a)  On or before 3:00 p.m. (New York City time) on each Servicer Remittance Date, the Master Servicer
shall in the case of all Mortgage Loans either (i) remit to the Certificate Administrator for deposit into the Lower-Tier
Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect
of the related Distribution Date, (ii) apply amounts held in the Collection Account or the applicable Serviced Loan Combination
Collection Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make
P&I Advances; provided, that such amounts in the applicable Serviced Loan Combination Collection Account shall only
be applied up to the related Mortgage Loan’s pro rata share of the amounts held therein on such date, or (iii) make
P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made
by the Master Servicer, except that the portion of such P&I Advance equal to the CREFC® License Fee for each
such Mortgage Loan shall not be remitted to the Certificate Administrator but shall instead be remitted to CREFC®.
Any amounts held in the Collection Account or any Serviced Loan Combination Collection Account, as applicable, for future distribution
and so used to make P&I Advances shall be appropriately reflected in the Master Servicer’s records and replaced by the
Master Servicer by deposit in the Collection Account or the applicable Serviced Loan Combination Collection Account, as applicable,
on or before the next succeeding P&I Advance Determination Date (to the extent not previously replaced through either (x) the
deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made or
(y) the deposit of Monthly Payments collected prior to the expiration of any applicable grace period that ends after the
P&I Advance Determination Date in respect of which such P&I Advances were made). The Master Servicer shall notify the
Trustee and the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the
amount of any Nonrecoverable P&I Advances for such Distribution Date, on or before the P&I Advance Determination Date.
If the Master Servicer fails to make a required P&I Advance by 3:00 p.m. (New York City time) on any Servicer Remittance
Date, then the Trustee shall make such P&I Advance pursuant to Section 7.06 of this Agreement by 12:00 noon (New
York City time) on the related Distribution Date, in each case unless the Master Servicer shall have cured such failure (and shall
have provided written notice of such cure to the Trustee) by 11:00 a.m. (New York City time) on such Distribution Date or
the Trustee determines that such P&I Advance, if made, would be a Nonrecoverable Advance. Neither the Master Servicer nor
the Trustee shall be required to make principal or interest advances with respect to any delinquent payment amounts due on any
Companion Loan. If the Master Servicer or the Trustee makes a P&I Advance with respect to any Mortgage Loan that is part of
a Loan Combination with a related Serviced Companion Loan or Non-Serviced Companion Loan, then it shall provide written notice
to the related Other Servicer, Other Special Servicer and Other Trustee of the amount of such P&I Advance with respect to
such Mortgage Loan within two (2) Business Days of making such P&I Advance.

 

(b)          Subject
to Section 4.07(c) and 4.07(d) below, the aggregate amount of P&I Advances to be made by the Master Servicer with respect
to any Distribution Date shall equal the aggregate of: (i) all Monthly Payments with respect to the Mortgage Loans (in each
case, net of related Servicing Fees in the case of any Non-Serviced Mortgage Loan) other than Balloon Payments, that were due during
the related Collection Period and delinquent (or

 

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unpaid, pending the expiration of any applicable grace period with respect to
any Mortgage Loan having a grace period extending past the P&I Advance Determination Date) as of the close of business on the
P&I Advance Determination Date (or not advanced by the Master Servicer or any sub-servicer on behalf of the Master Servicer)
with respect to the Mortgage Loans that it is servicing and (ii) with respect to each Mortgage Loan that the Master Servicer
is servicing and as to which the related Balloon Payment was due during or prior to the related Collection Period and was delinquent
(including any applicable grace period) as of the end of the related Collection Period (including any REO Loan as to which the
Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c)
below, the obligation of the Master Servicer to make such P&I Advances, with respect to the Mortgage Loans that it is servicing,
is mandatory, and with respect to any applicable Mortgage Loan or REO Loan, shall continue until the Distribution Date on which
Liquidation Proceeds or REO Proceeds, if any, are to be distributed. The Monthly Payment or Assumed Scheduled Payment shall be
reduced, for purposes of P&I Advances, by any modifications pursuant to Section 3.26 of this Agreement or otherwise and
by any reductions by a bankruptcy court pursuant to a plan of reorganization or pursuant to any of its equitable powers.

 

(c)          Notwithstanding
anything herein to the contrary, no P&I Advance shall be required hereunder if the Master Servicer, the Special Servicer or
the Trustee, as applicable, determines that such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In
addition, neither the Master Servicer nor the Trustee shall make any P&I Advance to the extent that it has received written
notice that the Special Servicer has determined (if no Consultation Termination Event has occurred and is continuing, in consultation
with the Directing Holder) that such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In making such
recoverability determination, the Master Servicer, the Special Servicer and the Trustee, as applicable, will be entitled to (i) give
due regard to the existence of any Nonrecoverable Advance or Workout-Delayed Reimbursement Amount with respect to other Mortgage
Loans, the recovery of which, at the time of such consideration, is being deferred or delayed by the Master Servicer or the Trustee,
as applicable, in light of the fact that proceeds on the related Mortgage Loan are a source of recovery not only for the P&I
Advance under consideration, but also as a potential source of recovery of such Nonrecoverable Advance or Workout-Delayed Reimbursement
Amount which is being or may be deferred or delayed, (ii) consider (among other things) the obligations of the Borrower under
the terms of the related Mortgage Loan (or the Loan Combination, as applicable) as it may have been modified, (iii) consider
(among other things) the related Mortgaged Properties in their “as is” or then current conditions and occupancies,
as modified by such party’s assumptions (consistent with the Servicing Standard in the case of the Master Servicer and the
Special Servicer) regarding the possibility and effects of future adverse change with respect to such Mortgaged Properties, (iv) estimate
and consider (consistent with the Servicing Standard in the case of the Master Servicer and the Special Servicer) (among other
things) future expenses and (v) estimate and consider (among other things) the timing of recoveries.

 

The Master Servicer,
the Special Servicer and the Trustee, as applicable, shall consider Unliquidated Advances in respect of prior P&I Advances
for purposes of nonrecoverability determinations as if such Unliquidated Advances were unreimbursed P&I Advances. None of the
Master Servicer or Trustee shall make any P&I Advances with respect

 

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to delinquent amounts due on any Companion Loan. If an
Appraisal of the related Mortgaged Property shall not have been obtained within the prior 9-month period (and the Master Servicer
and the Trustee shall each request any such appraisal from the Special Servicer prior to ordering an Appraisal pursuant to this
sentence) or if such an Appraisal shall have been obtained but as a result of unforeseen occurrences, such Appraisal does not,
in the good faith determination of the Master Servicer, the Special Servicer or the Trustee, reflect current market conditions,
and the Master Servicer or the Trustee, as applicable, and the Special Servicer cannot agree on the appropriate downward adjustment
to such Appraisal, the Master Servicer, the Special Servicer or the Trustee, as the case may be, may, subject to its reasonable
and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal
for such purpose at the expense of the Trust Fund (subject, in the case of any Serviced Loan Combination, to the allocation provisions
of the related Intercreditor Agreement).

 

Any such determination
by the Master Servicer, Special Servicer or the Trustee that the Master Servicer or Trustee, as applicable, has made a Nonrecoverable
P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance shall be evidenced
by a certificate of a Servicing Officer delivered to the Trustee, the Certificate Administrator, the Operating Advisor, the Special
Servicer, any related Serviced Pari Passu Companion Loan holder(s), the Directing Holder (but only if no Consultation Termination
Event has occurred and is continuing) and the Depositor and, in the case of the Trustee, by a certificate of a Responsible Officer
of the Trustee, delivered to the Depositor, the Directing Holder (but only if no Consultation Termination Event has occurred and
is continuing), the Operating Advisor, the Certificate Administrator, the Master Servicer and the Special Servicer, which in each
case sets forth such nonrecoverability determination and the considerations of the Master Servicer, Special Servicer or the Trustee,
as applicable, forming the basis of such determination (such certificate accompanied by, to the extent available, income and expense
statements, rent rolls, occupancy status, property inspections and other information used by the Master Servicer, Special Servicer
or the Trustee, as applicable, to make such determination, together with any existing Appraisal or any Updated Appraisal); provided,
that the Special Servicer may, at its option, make a determination in accordance with the Servicing Standard, that any P&I
Advance previously made or proposed to be made is nonrecoverable and shall deliver to the Master Servicer, the Directing Holder
(but only if no Consultation Termination Event has occurred and is continuing), the Operating Advisor, the Certificate Administrator,
the Trustee and the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website
pursuant to Section 3.14(d) of this Agreement), notice of such determination, together with a certificate of a Servicing Officer
and the supporting information described above. Any such determination shall be conclusive and binding on the Master Servicer,
the Special Servicer and the Trustee.

 

Any such Person may update
or change its recoverability determinations at any time (but not reverse any other Person’s determination or prohibit any
such other authorized Person from making a determination, that a P&I Advance constitutes, or would constitute a Nonrecoverable
Advance) and (consistent with the Servicing Standard in the case of the Master Servicer or the Special Servicer) may obtain, at
the expense of the Trust Fund (subject, in the case of any Serviced Loan Combination, to the allocation provisions of the related
Intercreditor Agreement), any analysis, Appraisals or market value estimates or other information for such

 

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purposes. Absent bad
faith, any such determination as to the recoverability of any P&I Advance shall be conclusive and binding on the Certificateholders.

 

Notwithstanding the above,
(i) the Trustee shall be entitled to rely conclusively on and be bound by any determination by the Master Servicer or the Special
Servicer, as applicable, that a P&I Advance, if made, would be a Nonrecoverable P&I Advance and (ii) the Master Servicer
will be entitled to rely conclusively on and be bound by any determination of the Special Servicer that a P&I Advance, if made,
would be a Nonrecoverable P&I Advance (but this statement shall not be construed to entitle the Special Servicer to reverse
any other authorized Person’s determination, or to prohibit any such other authorized Person from making a determination
that an advance constitutes, or would constitute, a Nonrecoverable Advance). The Trustee, in determining whether or not a P&I
Advance previously made is, or a proposed P&I Advance, if made, would be, a Nonrecoverable P&I Advance shall use its good
faith business judgment. The Special Servicer shall promptly furnish the Master Servicer and the Trustee with any information in
its possession regarding the Specially Serviced Loans and REO Properties as each such party may reasonably request for purposes
of making recoverability determinations.

 

(d)          In
connection with the recovery of any P&I Advance out of the Collection Account pursuant to Section 3.06(a) of this Agreement
or any Serviced Loan Combination Collection Account pursuant to Section 3.06(b) of this Agreement, the Master Servicer
shall be entitled to pay itself or the Trustee, as the case may be (in reverse of such order with respect to any Mortgage Loan
or REO Property) out of any amounts then on deposit in the Collection Account or the applicable Serviced Loan Combination Collection
Account (subject to the provisions of Section 3.06) (to the extent amounts therein relate to the Mortgage Loans, taking into
account the related Intercreditor Agreement), interest at the Advance Rate in effect from time to time, accrued on the amount of
such P&I Advance from the date made to but not including the date of reimbursement with respect to the Mortgage Loan that the
Master Servicer is servicing. The Master Servicer shall reimburse itself or the Trustee, as the case may be, for any outstanding
P&I Advance as soon as practicably possible after funds available for such purpose are deposited in the Collection Account
or the applicable Serviced Loan Combination Collection Account with respect to the Mortgage Loan that the Master Servicer is servicing.

 

Notwithstanding anything
to the contrary contained in Section 4.06 of this Agreement, (i) neither the Master Servicer nor the Trustee shall make
an advance for Excess Interest, Yield Maintenance Charges or Penalty Charges and (ii) if the Master Servicer receives notice
of an Appraisal Reduction Event and the related Appraisal Reduction Amount, the interest portion of any P&I Advance with respect
to a Mortgage Loan (other than a Non-Serviced Mortgage Loan) as to which there has been an Appraisal Reduction Amount will be an
amount equal to the product of (x) the amount required to be advanced without giving effect to the Appraisal Reduction Amount
and (y) a fraction, the numerator of which is the Stated Principal Balance of such Mortgage Loan as of the immediately preceding
Determination Date less any Appraisal Reduction Amount applicable to such Mortgage Loan and the denominator of which is the Stated
Principal Balance of such Mortgage Loan as of such Determination Date. All P&I Advances for any Mortgage Loans that have been
modified shall be calculated on the basis of their terms as modified. With respect to any Non-Serviced

 

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Mortgage Loan, if the Master
Servicer or the Trustee, as applicable, does not receive notice of an Appraisal Reduction Event and the related Appraisal Reduction
Amount from the related Other Servicer, then the Master Servicer or the Trustee, as applicable, shall have no obligation to proportionately
reduce the interest portion of any P&I Advance required to be made by the Master Servicer or the Trustee, as applicable. With
respect to any Non-Serviced Companion Loan that has already been securitized prior to the Closing Date, the Master Servicer, on
behalf of the Trust, shall notify each Other Servicer and each Other Trustee of a Non-Serviced Mortgage Loan that (a) such Non-Serviced
Mortgage Loan has been included in this Trust and (b) upon (i) the existence of an Appraisal Reduction Event and/or (ii) the related
calculation of any Appraisal Reduction Amount (or receipt of notice of any such calculation), such Other Servicer shall provide
the Master Servicer (who shall promptly provide to the Special Servicer and, prior to a Consultation Termination Event, to the
Directing Holder) and the Trustee with prompt written notice of the existence of any such Appraisal Reduction Event and/or any
such Appraisal Reduction Amount once calculated. With respect to any Serviced Companion Loan, the Master Servicer and the Trustee
shall notify the related Other Servicer and Other Trustee of the existence of an Appraisal Reduction Event and any related Appraisal
Reduction Amount. The Master Servicer and the Trustee shall be deemed to have delivered notice of any such Appraisal Reduction
Event and any related Appraisal Reduction Amount if the Master Servicer includes such event and/or amount in its monthly servicer
statements provided to the other servicer.

 

The portion of any Insurance
Proceeds and Net Liquidation Proceeds in respect of a Mortgage Loan or any REO Loan allocable to principal shall equal the total
amount of such proceeds minus (i) any portion thereof payable to the Master Servicer, the Special Servicer, the Operating
Advisor, the Certificate Administrator or the Trustee pursuant to this Agreement and (ii) a portion thereof equal to the interest
component of the Monthly Payment(s), as accrued at the related Net Mortgage Pass-Through Rate from the date as to which interest
was last paid by the Borrower up to but not including the Due Date in the Collection Period in which such proceeds are received;
provided, if the interest portion(s) of one or more P&I Advances with respect of such Mortgage Loan or REO Loan, as
applicable, were reduced as a result of an Appraisal Reduction Event, the amount of the Net Liquidation Proceeds to be applied
to interest shall be reduced by the aggregate amount of such reductions and the portion of such Net Liquidation Proceeds to be
applied to principal shall be increased by such amount, and if the amount of the Net Liquidation Proceeds to be applied to principal
has been applied to pay the principal of such Mortgage Loan or REO Loan in full, any remaining Net Liquidation Proceeds shall then
be applied to pay any remaining accrued and unpaid interest of such Mortgage Loan or REO Loan.

 

(e)          With
respect to any Non-Serviced Mortgage Loan, the Master Servicer, the Special Servicer and the Trustee will each be permitted to
make its determination that the Master Servicer or the Trustee has made a P&I Advance on such Mortgage Loan that is a Nonrecoverable
P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance with respect to
such Mortgage Loan in accordance with Section 4.07(a) independently of any determination made by the Other Servicer (or
any master servicer with respect to a commercial mortgage securitization holding another Non-Serviced Companion Loan related to
such Non-Serviced Mortgage Loan, if any) under the Other Pooling and Servicing Agreement (or any pooling and servicing agreement
with respect to a

 

    	-315-

    	 

    

 

commercial mortgage securitization holding another Non-Serviced Companion Loan related to such Non-Serviced Mortgage
Loan, if any). If the Master Servicer or the Trustee, as applicable, determines that a proposed P&I Advance with respect to
any Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to any Non-Serviced Mortgage Loan previously
made, would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer or the Trustee, as applicable, shall provide
the Other Servicer (and any master servicer with respect to a commercial mortgage securitization holding another Non-Serviced Companion
Loan related to such Non-Serviced Mortgage Loan, if any), the Other Special Servicer and Other Trustee with written notice of such
determination, promptly and in any event within two (2) Business Days after such determination or such longer time period permitted
by the applicable Intercreditor Agreement. If the Master Servicer receives written notice from an Other Servicer (or any master
servicer with respect to a commercial mortgage securitization holding another Non-Serviced Companion Loan related to such Non-Serviced
Mortgage Loan, if any) that it has determined, with respect to the related Non-Serviced Companion Loan, that any proposed advance
of principal and/or interest with respect to the related Non-Serviced Companion Loan would be, or any outstanding advance of principal
and interest is, a nonrecoverable advance of principal and/or interest, such determination shall not be binding on the Certificateholders,
the Master Servicer or the Trustee; provided that, with respect to each Non-Serviced Loan Combination, each of the Master
Servicer and the Trustee shall be entitled to conclusively rely on any such nonrecoverability determination.

 

If the Master Servicer
receives notice from a Rating Agency that it is no longer approved as a master servicer for commercial mortgage securitizations,
it shall promptly notify the Trustee, any Other Trustee, any Other Servicer and any other trustee or master servicer with respect
to each commercial mortgage securitization that holds a Non-Serviced Companion Loan related to a Non-Serviced Mortgage Loan, if
any.

 

(f)          With
respect to any Serviced Loan Combination that has a Serviced Companion Loan, the Master Servicer will be permitted to make its
determination that it has made a P&I Advance on the related Mortgage Loan that is a Nonrecoverable P&I Advance or that
any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance with respect to such Mortgage Loan in
accordance with Section 4.07(a) independently of any determination made in respect of the related Serviced Companion
Loan, by the master servicer under the related Other Pooling and Servicing Agreement. If the Master Servicer or Trustee, as applicable,
determines that a proposed P&I Advance with respect to such Serviced Loan Combination, if made, or any outstanding P&I
Advance with respect to any such Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance or if
the Master Servicer or Trustee, as applicable, subsequently determines that a proposed Property Advance would be a Nonrecoverable
Advance or an outstanding Property Advance is or would be a Nonrecoverable Advance, the Master Servicer or Trustee, as applicable,
shall provide the Other Servicer, Other Special Servicer and the Other Trustee under each related Other Pooling and Servicing Agreement
with written notice of such determination, promptly and in any event within two (2) Business Days after such determination or such
longer time period permitted by the applicable Intercreditor Agreement. If the Master Servicer receives written notice from any
master servicer under any such Other Pooling and Servicing Agreement that such master servicer has determined, with respect to
the related Serviced Companion Loan, that any proposed advance of principal and/or interest with respect to such Serviced Companion
Loan

 

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would be, or any outstanding advance of principal and interest is, a nonrecoverable advance of principal and/or interest,
such determination shall not be binding on the Certificateholders, the Master Servicer or the Trustee; provided that, with
respect to each Non-Serviced Loan Combination, each of the Master Servicer and the Trustee shall be entitled to conclusively rely
on any such nonrecoverability determination.

 

If the Master Servicer
receives notice from a Rating Agency that it is no longer approved as a master servicer for commercial mortgage securitizations,
it shall promptly notify the Trustee, any Other Trustee, any Other Servicer and any other trustee or master servicer with respect
to each commercial mortgage securitization that holds a Serviced Pari Passu Companion Loan related to any Serviced Loan Combination,
if any.

 

(g)          The
Master Servicer or the Trustee, as applicable, shall be entitled to the reimbursement of P&I Advances it makes to the extent
permitted pursuant to Section 3.06 of this Agreement together with any related Advance Interest Amount in respect of such
P&I Advances to the extent permitted pursuant to Section 3.06 of this Agreement and the Master Servicer and the Special
Servicer each hereby covenants and agrees to promptly seek and effect the reimbursement of such Advances from the related Borrowers
to the extent permitted by applicable law and the related Mortgage Loan and this Agreement.

 

Section 4.08     Appraisal
Reductions. (a) For purposes of (x) determining the Controlling Class (and whether a Control Termination Event has
occurred and is continuing) and (y) determining the Voting Rights of the related Classes for purposes of removal of the
Special Servicer, Appraisal Reduction Amounts allocated to the Mortgage Loans will be allocated to each Class of Sequential
Pay Certificates in reverse sequential order to notionally reduce the related Certificate Balances until the Certificate
Balance of each such Class of Certificates is reduced to zero (i.e., first, to the Class H Certificates, second,
to the Class G Certificates, third, to the Class F Certificates, fourth, to the Class E
Certificates, fifth, to the Class D Certificates, sixth, to the Class C Certificates, seventh,
to the Class B Certificates, eighth, to the Class A-M Certificates, and finally, to the Class A-1,
Class A-2, Class A-SB, Class A-3 and Class A-4 Certificates, pro rata, based on their Certificate
Balances).

 

The Master Servicer shall
notify the Certificate Administrator of the amount of any Appraisal Reduction Amount allocated to each Mortgage Loan or Serviced
Loan Combination. Based on information in its possession, the Certificate Administrator shall determine from time to time which
Class of Certificates is the Controlling Class. Promptly upon its determination of a change in the Controlling Class, the Certificate
Administrator shall notify the Master Servicer, the Special Servicer and the Operating Advisor of such event, including the identity
and contact information of the new Controlling Class Certificateholder (the cost of obtaining such information from the Depository
being an expense of the Trust).

 

(b)          The
Holders of the majority (by Certificate Balance) of any Class of Control Eligible Certificates whose aggregate Certificate Balance,
as notionally reduced by Appraisal Reduction Amounts allocated thereto, is less than 25% of the initial Certificate Balance of
such Class (such Class, an “Appraised-Out Class”) as a result of an allocation of an Appraisal Reduction Amount
in respect of such Class shall have the right, at their sole expense, to require the Special Servicer to order a second Appraisal
of any Mortgage Loan for which an

 

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Appraisal Reduction Event has occurred (such Holders, the “Requesting Holders”),
and use its commercially reasonable efforts to obtain an Appraisal prepared on an “as-is” basis by an MAI appraiser
reasonably acceptable to the Special Servicer within 60 days from receipt of the Requesting Holders’ written request.
Any Appraised-Out Class for which the Requesting Holders are challenging the Appraisal Reduction Amount determination shall not
exercise any rights of the Controlling Class until such time, if any, as such Class is reinstated as the Controlling Class and
the rights of the Controlling Class will be exercised by the most senior Control Eligible Certificates, if any, during such period.

 

In addition, the Requesting
Holders of any Appraised-Out Class shall have the right, at their sole expense, to require the Special Servicer to order an additional
appraisal of any Mortgage Loan for which an Appraisal Reduction Event has occurred if an event has occurred at or with regard to
the related Mortgaged Property or Mortgaged Properties that would have a material effect on its Appraised Value, and the Special
Servicer shall use reasonable efforts to obtain an Appraisal prepared on an “as-is” basis by an MAI appraiser reasonably
acceptable to the Special Servicer within 60 days from receipt of the Requesting Holders’ written request; provided
that the Special Servicer shall not be required to obtain such appraisal if it determines in accordance with the Servicing Standard
that no events at or with regard to the related Mortgaged Property or Mortgaged Properties have occurred that would have a material
effect on the Appraised Value of the related Mortgaged Property or Mortgaged Properties. The right of the holders of an Appraised-Out
Class to require the Special Servicer to order an additional appraisal as described in this paragraph shall be limited to no more
frequently than once in any 9-month period with respect to any Mortgage Loan.

 

Upon receipt of any such
second Appraisal, the Special Servicer shall determine, in accordance with the Servicing Standard, whether, based on its assessment
of such second Appraisal, any recalculation of the Appraisal Reduction Amount is warranted and, if so warranted shall direct the
Master Servicer to, and the Master Servicer shall, recalculate such Appraisal Reduction Amount based upon such second Appraisal.
If required by any such recalculation, the Appraised-Out Class shall be reinstated as the Controlling Class.

 

Appraisals that are permitted
to be obtained by the Special Servicer at the request of holders of an Appraised-Out Class shall be in addition to any appraisals
that the Special Servicer may otherwise be required to obtain in accordance with the Servicing Standard or this Agreement without
regard to any appraisal requests made by any holder of an Appraised-Out Class.

 

(c)          An
appraisal for any Mortgage Loan that has not been brought current for at least three consecutive months (or paid in full, liquidated,
repurchased or otherwise disposed of) will be updated every 9 months for so long as an Appraisal Reduction Event exists.

 

(d)          Notwithstanding
the foregoing, within 60 days after an Appraisal Reduction Event (or in the case of an Appraisal Reduction Event occurring
by reason of clause (ii) of the definition thereof, within 30 days of such Appraisal Reduction Event) (i) with
respect to Mortgage Loans (other than Non-Serviced Mortgage Loans) or applicable Serviced Loan Combinations having a Stated Principal
Balance of $2,000,000 or higher, the Special

 

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Servicer shall order and use commercially reasonable efforts to obtain an Updated
Appraisal or (ii) with respect to Mortgage Loans (other than Non-Serviced Mortgage Loans) or applicable Serviced Loan Combinations
having a Stated Principal Balance of less than $2,000,000, the Special Servicer, at its option, shall (A) provide a Small
Loan Appraisal Estimate within the same time period as an Appraisal would otherwise be required and such Small Loan Appraisal Estimate
shall be used in lieu of an Updated Appraisal to calculate the Appraisal Reduction Amount for such Mortgage Loans or applicable
Serviced Loan Combinations; or (B) order and use commercially reasonable efforts to obtain an Updated Appraisal.

 

(e)          On
the first Distribution Date occurring at least two (2) Business Days after the delivery of an Updated Appraisal or completion of
a Small Loan Appraisal Estimate, as applicable, the Master Servicer shall adjust the Appraisal Reduction Amount to take into account
such Updated Appraisal or Small Loan Appraisal Estimate, as applicable, obtained from the Special Servicer. Each Appraisal Reduction
Amount shall also be adjusted to take into account any subsequent Small Loan Appraisal Estimate or Updated Appraisal, as applicable,
and any letter updates, as of the date of each such subsequent Small Loan Appraisal Estimate, Updated Appraisal or letter update,
as applicable.

 

Section 4.09     Grantor
Trust Reporting. (a) The Certificate Administrator shall maintain adequate books and records to account for the separate
entitlements of the Grantor Trust.

 

(b)          The
parties intend that the Grantor Trust shall be treated as a “grantor trust” under the Code, and the provisions thereof
shall be interpreted consistently with this intention. In furtherance of such intention, none of the Depositor, the Master Servicer,
the Special Servicer, the Trustee or the Certificate Administrator shall vary the assets of the Grantor Trust so as to take advantage
of market fluctuations or so as to improve the rate of return of the Class V Certificates, and shall otherwise comply with
Treasury Regulations Section 301.7701-4(c). The Certificate Administrator shall file or cause to be filed with the IRS Form
1041 (or, if the Grantor Trust is a WHFIT, information will be provided on Form 1099) or such other form as may be applicable and
shall furnish or cause to be furnished to the Holders of the Class V Certificates their allocable share of income and expense
with respect to the Class V Specific Grantor Trust Assets and proceeds thereof, as such amounts are received or accrue, as applicable.

 

(c)          (i)
The Grantor Trust will be treated as a WHFIT that is a WHMT and, the Certificate Administrator shall report as required under the
WHFIT Regulations to the extent such information as is reasonably necessary to enable the Certificate Administrator to do so is
provided to the Certificate Administrator on a timely basis. The Certificate Administrator shall be entitled to assume that the
Class V Certificates is not held by any “Middleman” until such time as it receives notice that any Class V Certificate
is held through a “Middleman,” and shall not be liable for any tax reporting penalties that may arise under the WHFIT
Regulations, and shall be entitled to indemnification in accordance with the terms of this Agreement in the event that the IRS
makes a determination that such assumption or notice is incorrect.

 

(ii)          The
Certificate Administrator, in its discretion, shall report required WHFIT information using either the cash or accrual method,
except to the extent the

 

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WHFIT Regulations specifically require a different method. The Certificate Administrator shall be under
no obligation to determine whether any Certificateholder uses the cash or accrual method. The Certificate Administrator shall make
available (via the Certificate Administrator’s Website) WHFIT information to Certificateholders annually. In addition, the
Certificate Administrator shall not be responsible or liable for providing subsequently amended, revised or updated information
to any Certificateholder, unless requested by the Certificateholder.

 

(iii)         The
Certificate Administrator shall not be liable for failure to meet the reporting requirements of the WHFIT Regulations nor for any
penalties thereunder if such failure is due to: (i) the lack of reasonably necessary information being provided to the Certificate
Administrator or (ii) incomplete, inaccurate or untimely information being provided to the Certificate Administrator. Each
owner of a class of securities representing, in whole or in part, beneficial ownership of an interest in a WHFIT, by acceptance
of its interest in such class of securities, will be deemed to have agreed to provide the Certificate Administrator with information
regarding any sale of such securities, including the price, amount of proceeds and date of sale. Absent receipt of information
regarding any sale of Certificates, including the price, amount of proceeds and date of sale from the beneficial owner thereof
or the Depositor, the Certificate Administrator shall assume there is no secondary market trading of WHFIT interests.

 

(iv)         To
the extent required by the WHFIT Regulations, the Certificate Administrator shall use reasonable efforts to publish on the Certificate
Administrator’s Website the CUSIPs for the Certificates that represent ownership of a WHFIT. The CUSIPs so published will
represent the Rule 144A CUSIPs. The Certificate Administrator shall make reasonable good faith efforts to keep the website
accurate and updated to the extent CUSIPs have been received. Absent the receipt of a CUSIP, the Certificate Administrator will
use a reasonable identifier number in lieu of a CUSIP. The Certificate Administrator shall not be liable for investor reporting
delays that result from the receipt of inaccurate or untimely CUSIP information.

 

Article V

THE CERTIFICATES

 

Section 5.01     The
Certificates. (a) The Certificates consist of the Class A-1 Certificates, the Class A-2 Certificates, the Class
A-SB Certificates, the Class A-3 Certificates, the Class A-4 Certificates, the Class A-M Certificates, the
Class X-A Certificates, the Class X-B Certificates, the Class X-C Certificates, the Class X-D Certificates, the
Class X-E Certificates, the Class X-F Certificates, the Class B Certificates, the Class C Certificates, the
Class D Certificates, the Class E Certificates, the Class F Certificates, the Class G Certificates, the
Class H Certificates, the Class V Certificates, the Class R Certificates and the Class LR Certificates.

 

The Class A-1, Class A-2,
Class A-SB, Class A-3, Class A-4, Class A-M, Class X-A, Class X-B, Class X-C, Class X-D, Class X-E, Class
X-F, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class V, Class R and
Class LR Certificates will

 

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be substantially in the forms for such Class of Certificates as set forth next to such Classes
in the Table of Exhibits to this Agreement. The Certificates of each Class (other than the Class V, Class R and
Class LR Certificates) will be issuable in registered form only, in minimum denominations of authorized Certificate Balance
or Notional Balance, as applicable, as described in the succeeding table, and multiples of $l in excess thereof (or such lesser
amount if the Certificate Balance or Notional Balance, as applicable, is not a multiple of $1). With respect to any Certificate
or any beneficial interest in a Certificate, the “Denomination” thereof shall be (i) the amount (A) set forth
on the face thereof or (B) in the case of any Global Certificate, set forth on a schedule attached thereto or, in the case
of any beneficial interest in a Global Certificate, the amount set forth on the books and records of the related Depository Participant
or indirect participating brokerage firm, as applicable, (ii) expressed in terms of Certificate Balance or Notional Balance,
as applicable, and (iii) be in an authorized denomination, as set forth below.

 

	Class	 	Minimum
 Denomination	 	Aggregate Denomination of
 all Certificates of Class
	A-1	 	$      10,000	 	$   36,162,000
	A-2	 	$      10,000	 	$   44,578,000
	A-SB	 	$      10,000	 	$   76,831,000
	A-3	 	$      10,000	 	$ 225,000,000
	A-4	 	$      10,000	 	$ 381,056,000
	X-A	 	$    100,000	 	$ 811,353,000
	A-M	 	$      10,000	 	$   47,726,000
	B	 	$      10,000	 	$   72,272,000
	C	 	$      10,000	 	$   54,545,000
	D	 	$      10,000	 	$   61,363,000
	X-B	 	$ 1,000,000	 	$ 126,817,000
	X-C	 	$ 1,000,000	 	$   61,363,000
	X-D	 	$ 1,000,000	 	$   28,636,000
	X-E	 	$ 1,000,000	 	$   28,636,000
	X-F	 	$ 1,000,000	 	$   34,090,914
	E	 	$    100,000	 	$   15,000,000
	F	 	$    100,000	 	$   13,636,000
	G	 	$    100,000	 	$   28,636,000
	H	 	$    100,000	 	$   34,090,914

 

Each Certificate will
share ratably in all rights of the related Class.

 

The Class V, Class R
and Class LR Certificates will each be issuable in one or more Individual Certificates in minimum denominations of 5% Percentage
Interests and integral multiples of a 1% Percentage Interest in excess thereof and together aggregating the entire 100% Percentage
Interest in each such Class.

 

The Global Certificates
shall be issued as one or more certificates registered in the name of a nominee designated by the Depository, and Beneficial Owners
shall hold interests in the Global Certificates through the book-entry facilities of the Depository in the minimum Denominations
and aggregate Denominations and Classes as set forth above.

 

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The Global Certificates
shall in all respects be entitled to the same benefits under this Agreement as Individual Certificates authenticated and delivered
hereunder.

 

(b)          Except
insofar as pertains to any Individual Certificate, the Trust Fund, the Certificate Administrator, the Paying Agent and the Trustee
may for all purposes (including the making of payments due on the Global Certificates and the giving of notice to Holders thereof)
deal with the Depository as the authorized representative of the Beneficial Owners with respect to the Global Certificates for
the purposes of exercising the rights of Certificateholders hereunder; provided, that, for purposes of transmitting communications
pursuant to Section 5.05(a) of this Agreement, to the extent that the Depositor has provided the Certificate Administrator
with the names of Beneficial Owners (even if such Certificateholders hold their Certificates through the Depository) the Certificate
Administrator shall provide such information to such Beneficial Owners directly. The rights of Beneficial Owners with respect to
Global Certificates shall be limited to those established by law and agreements between such Certificateholders and the Depository
and Depository Participants. Except as set forth in Section 5.01(e) below, Beneficial Owners of Global Certificates shall
not be entitled to physical certificates for the Global Certificates as to which they are the Beneficial Owners. Requests and directions
from, and votes of, the Depository as Holder of the Global Certificates shall not be deemed inconsistent if they are made with
respect to different Beneficial Owners. Subject to the restrictions on transfer set forth in this Section 5.01 of this Agreement
and Applicable Procedures, the holder of a beneficial interest in a Private Global Certificate may request that the Certificate
Administrator cause the Depository (or any Agent Member) to notify the Certificate Registrar and the Certificate Custodian in writing
of a request for transfer or exchange of such beneficial interest for an Individual Certificate or Certificates. Upon receipt of
such a request and payment by the related Beneficial Owner of any attendant expenses, the Certificate Administrator shall cause
the issuance and delivery of such Individual Certificates. The Certificate Registrar may establish a reasonable record date in
connection with solicitations of consents from or voting by Certificateholders and give notice to the Depository of such record
date. Without the written consent of the Certificate Registrar, no Global Certificate may be transferred by the Depository except
to a successor Depository that agrees to hold the Global Certificates for the account of the Beneficial Owners.

 

(c)          Any
of the Certificates may be issued with appropriate insertions, omissions, substitutions and variations, and may have imprinted
or otherwise reproduced thereon such legend or legends, not inconsistent with the provisions of this Agreement, as may be required
to comply with any law or with rules or regulations pursuant thereto, or with the rules of any securities market in which the Certificates
are admitted to trading, or to conform to general usage.

 

(d)          The
Global Certificates (i) shall be delivered by the Certificate Registrar to the Depository or, pursuant to the Depository’s
instructions on behalf of the Depository to, and deposited with, the Certificate Custodian, and in either case shall be registered
in the name of Cede & Co. and (ii) shall bear a legend substantially to the following effect:

 

“Unless this certificate is presented
by an authorized representative of The Depository Trust Company, a New York

 

    	-322-

    	 

    

 

corporation (“DTC”), to the
Certificate Registrar for registration of transfer, exchange or payment, and any certificate issued is registered in the name of
Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede &
Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest
herein.”

 

The Global Certificates
may be deposited with such other Depository as the Certificate Registrar may from time to time designate, and shall bear such legend
as may be appropriate.

 

(e)          If
(i) the Depository advises the Certificate Administrator in writing that the Depository is no longer willing or able properly
to discharge its responsibilities as Depository, and the Depositor is unable to locate a qualified successor or (ii) the Depositor,
at its sole option, elects in writing to the Certificate Administrator and to the Depository to terminate the book-entry system
through the Depository with respect to all or any portion of any Class of Certificates, the Certificate Administrator shall notify
the affected Beneficial Owner or Owners through the Depository of the occurrence of such event and the availability of Individual
Certificates to such Beneficial Owners requesting them. Upon surrender to the Certificate Administrator of Global Certificates
by the Depository, accompanied by registration instructions from the Depository for registration of transfer, the Certificate Administrator
shall issue the Individual Certificates. Neither the Trustee, the Certificate Administrator, the Certificate Registrar, the Master
Servicer, the Special Servicer nor the Depositor shall be liable for any actions taken by the Depository or its nominee, including,
without limitation, any delay in delivery of such instructions. Upon the issuance of Individual Certificates, the Trustee, the
Certificate Administrator, the Certificate Registrar and the Master Servicer shall recognize the Holders of Individual Certificates
as Certificateholders hereunder.

 

(f)          If
the Trustee, its agents, the Certificate Administrator, its agents or the Master Servicer or Special Servicer have instituted or
have been directed to institute any judicial proceeding in a court to enforce the rights of the Certificateholders under the Certificates,
and the Trustee, the Certificate Administrator, the Master Servicer or the Special Servicer have been advised by counsel that in
connection with such proceeding it is necessary or appropriate for the Trustee, the Certificate Administrator, the Master Servicer
or the Special Servicer to obtain possession of the Certificates, the Trustee, the Certificate Administrator, the Master Servicer
or the Special Servicer may in their sole discretion determine that the Certificates represented by the Global Certificates shall
no longer be represented by such Global Certificates. In such event, the Certificate Administrator or the Authenticating Agent
will execute and authenticate and the Certificate Registrar will deliver, in exchange for such Global Certificates, Individual
Certificates (and if the Certificate Administrator or the Certificate Custodian has in its possession Individual Certificates previously
executed, the Authenticating Agent will authenticate and the Certificate Registrar will deliver such

 

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Certificates) in a Denomination
equal to the aggregate Denomination of such Global Certificates.

 

(g)          If
the Trust Fund ceases to be subject to Section 13 or 15(d) of the Exchange Act, the Certificate Administrator shall make
available to each Holder and Beneficial Owner of a Class of Certificates, upon request of such a Holder, information, to the extent
such information is in its possession, substantially equivalent in scope to the information currently filed by the Certificate
Administrator with the Commission pursuant to the Exchange Act, plus additional information required to be provided for securities
qualifying for resales under Rule 144A under the Act.

 

For so long as the Class V,
Class R or Class LR Certificates remain outstanding, none of the Depositor, the Trustee or the Certificate Registrar shall take
any action which would cause the Trust Fund to fail to be subject to Section 15(d) of the Exchange Act.

 

(h)          Each
Certificate may be printed or in typewritten or similar form, and each Certificate shall, upon original issue, be executed and
authenticated by the Certificate Administrator or the Authenticating Agent and delivered to, or at the order of, the Depositor.
All Certificates shall be executed by manual or facsimile signature on behalf of the Certificate Administrator or Authenticating
Agent by an authorized officer or signatory. Certificates bearing the signature of an individual who was at any time the proper
officer or signatory of the Certificate Administrator or Authenticating Agent shall bind the Certificate Administrator or Authenticating
Agent, notwithstanding that such individual has ceased to hold such office or position prior to the delivery of such Certificates
or did not hold such office or position at the date of such Certificates. No Certificate shall be entitled to any benefit under
this Agreement, or be valid for any purpose, unless there appears on such Certificate a certificate of authentication in the form
set forth in Exhibit A-1 through Exhibit A-22 executed by the Authenticating Agent by manual signature, and such
certificate of authentication upon any Certificate shall be conclusive evidence, and the only evidence, that such Certificate has
been duly authenticated and delivered hereunder. All Certificates shall be dated the date of their authentication.

 

(i)          If,
in connection with any Distribution Date, the Certificate Administrator shall have reported the amount of an anticipated distribution
to the Depository based on the expected receipt of any monthly payment based on information set forth in any report of the Master
Servicer or the Special Servicer, or any other monthly payment, Balloon Payment or prepayment expected to be or which is paid on
the last two Business Days preceding such Distribution Date, and the related Borrower fails to make such payments at such time,
the Certificate Administrator shall use commercially reasonable efforts to cause the Depository to make the revised distribution
on a timely basis on such Distribution Date. The Trustee, the Certificate Administrator, the Operating Advisor, the Master Servicer
and the Special Servicer shall not be liable or held responsible for any resulting delay (or claims by the Depository resulting
therefrom) in the making of such distribution to Certificateholders. Any out-of-pocket costs incurred by the Certificate Administrator
as a consequence of a Borrower failing to make such payments shall be reimbursable to the Certificate Administrator as an expense
of the Trust Fund.

 

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Section 5.02     Registration,
Transfer and Exchange of Certificates. (a) The Certificate Administrator shall keep or cause to be kept at its offices
books (the “Certificate Register”) for the registration, transfer and exchange of Certificates (the
Certificate Administrator, in such capacity, being the “Certificate Registrar”). The Depositor, the
Trustee, the Master Servicer and the Special Servicer shall have the right to inspect the Certificate Register or to obtain a
copy thereof at all reasonable times, and to rely conclusively upon a certificate of the Certificate Registrar as to the
information set forth in the Certificate Register. The names and addresses of all Certificateholders and the names and
addresses of the transferees of any Certificates shall be registered in the Certificate Register; provided, in no
event shall the Certificate Registrar be required to maintain in the Certificate Register the names of the individual
Participants holding beneficial interests in the Trust Fund through the Depository. The Person in whose name any Certificate
is so registered shall be deemed and treated as the sole owner and Holder thereof for all purposes of this Agreement and the
Depositor, Certificate Registrar, the Master Servicer, Special Servicer, the Trustee, the Certificate Administrator, any
Paying Agent and any agent of any of them shall not be affected by any notice or knowledge to the contrary. An Individual
Certificate is transferable or exchangeable only upon the surrender of such Certificate to the Certificate Registrar at its
offices together with an assignment and transfer (executed by the Holder or his duly authorized attorney), subject to the
requirements of Section 5.01(h) and Sections 5.02(c), (d), (e), (f), (g), (h) and (i) of this Agreement. Upon request of
the Certificate Administrator, the Certificate Registrar shall provide the Certificate Administrator with the names,
addresses and Percentage Interests of the Holders.

 

(b)          Upon
surrender for registration of transfer of any Individual Certificate, subject to the requirements of Sections 5.02(c), (d),
(e), (f), (g), (h) and (i) of this Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly
authenticate in the name of the designated transferee or transferees, one or more new Certificates in Denominations of a like aggregate
Denomination as the Individual Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar
in accordance with Section 5.02(e) of this Agreement. Each Certificate surrendered for registration of transfer shall be canceled
and subsequently destroyed by the Certificate Registrar. Each new Certificate issued pursuant to this Section 5.02 shall be
registered in the name of any Person as the transferring Holder may request, subject to the provisions of Sections 5.01(h)
and 5.02(c), (d), (e), (f), (g), (h) and (i) of this Agreement.

 

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(c)           In
addition to the provisions of Sections 5.01(h) and 5.02(d), (e), (f), (g), (h) and (i) of this Agreement and the rules of
the Depository, the exchange, transfer and registration of transfer of Private Certificates that are Individual Certificates or
beneficial interests in the Private Global Certificates shall be subject to the following restrictions:

 

(i)            Transfers
between Holders of Individual Certificates. With respect to the transfer and registration of transfer of an Individual Certificate
representing an interest in a Class of Private Certificates to a transferee that takes delivery in the form of an Individual Certificate
(other than transfers of the Class V, Class R and Class LR Certificates, which may be made only in accordance with Section 5.02(i)
of this Agreement):

 

(A)          Other
than the initial transfer from the Initial Purchasers to an initial investor, the Certificate Registrar shall register the transfer
of such Individual Certificate if the requested transfer is being made by a transferee who has provided the Certificate Registrar
with an Investment Representation Letter substantially in the form of Exhibit D-1 to this Agreement (an “Investment
Representation Letter”), to the effect that the transfer is being made to a Qualified Institutional Buyer in accordance
with Rule 144A;

 

(B)          The
Certificate Registrar shall register the transfer of such Individual Certificate pursuant to Regulation S after the expiration
of the Restricted Period if (1) the transferor has provided the Certificate Registrar with a Regulation S Transfer Certificate
substantially in the form of Exhibit G to this Agreement (a “Regulation S Transfer Certificate”),
and (2) the transferee furnishes to the Certificate Registrar an Investment Representation Letter; or

 

(C)          The
Certificate Registrar shall register the transfer of such Individual Certificate if prior to the transfer such transferee furnishes
to the Certificate Registrar (1) an Investment Representation Letter to the effect that the transfer is being made to an Institutional
Accredited Investor or to an Affiliated Person in accordance with an applicable exemption under the Act, and (2) in the case
of a transfer to an Affiliated Person, an opinion of counsel acceptable to the Certificate Registrar that such transfer is in compliance
with the Act;

 

and, in each case, the Certificate
Registrar shall register the transfer of such Individual Certificate only if prior to the transfer the transferee furnishes to
the Certificate Registrar a written undertaking by the transferor to reimburse the Trust Fund for any costs incurred by it in connection
with the proposed transfer. In addition, the Certificate Registrar may, as a condition of the registration of any such transfer,
require the transferor to furnish such other certificates, legal opinions or other information (at the transferor’s expense)
as the Certificate Registrar may reasonably require to confirm that the proposed transfer is being made pursuant to an exemption
from, or in a transaction not subject to, the registration requirements of the Act and other applicable laws.

 

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(ii)           Transfers
within the Private Global Certificates. Notwithstanding any provision to the contrary herein, so long as a Private Global Certificate
remains outstanding and is held by or on behalf of the Depository, transfers within such Global Certificate shall only be made
in accordance with this Section 5.02(c)(ii).

 

(A)          Rule 144A
Global Certificate to Regulation S Global Certificate During the Restricted Period. If, during the Restricted Period, a Beneficial
Owner of an interest in a Rule 144A Global Certificate wishes at any time to transfer its beneficial interest in such Rule 144A
Global Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related Regulation
S Global Certificate, such Beneficial Owner may, in addition to complying with all applicable rules and procedures of the Depository
and Clearstream or Euroclear applicable to transfers by their respective participants (the “Applicable Procedures”),
transfer or cause the transfer of such beneficial interest for an equivalent beneficial interest in such Regulation S Global Certificate
only upon compliance with the provisions of this Section 5.02(c)(ii)(A). Upon receipt by the Certificate Registrar at the
Corporate Trust Office of (1) written instructions given in accordance with the Applicable Procedures from an Agent Member
directing the Certificate Registrar to credit or cause to be credited to another specified Agent Member’s account a beneficial
interest in the Regulation S Global Certificate in an amount equal to the Denomination of the beneficial interest in the Rule 144A
Global Certificate to be transferred, (2) a written order given in accordance with the Applicable Procedures containing information
regarding the account of the Agent Member and the Euroclear or Clearstream account, as the case may be, to be credited with, and
the account of the Agent Member to be debited for, such beneficial interest, and (3) a certificate in the form of Exhibit H
to this Agreement given by the Beneficial Owner of such interest, the Certificate Registrar shall instruct the Depository or the
Certificate Custodian, as applicable, to reduce the Denomination of the Rule 144A Global Certificate by the Denomination of
the beneficial interest in the Rule 144A Global Certificate to be so transferred and, concurrently with such reduction, to
increase the Denomination of the Regulation S Global Certificate by the Denomination of the beneficial interest in the Rule 144A
Global Certificate to be so transferred, and to credit or cause to be credited to the account of the Person specified in such instructions
(who shall be an Agent Member acting for or on behalf of Euroclear or Clearstream, or both, as the ease may be) a beneficial interest
in the Regulation S Global Certificate having a Denomination equal to the amount by which the Denomination of the Rule 144A
Global Certificate was reduced upon such transfer.

 

(B)          Rule 144A
Global Certificate to Regulation S Global Certificate After the Restricted Period. If, after the Restricted Period, a Beneficial
Owner of an interest in a Rule 144A Global Certificate wishes at any time to transfer its beneficial interest in such Rule 144A
Global Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related

 

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Regulation
S Global Certificate, such holder may, in addition to complying with all Applicable Procedures, transfer or cause the transfer
of such beneficial interest for an equivalent beneficial interest in such Regulation S Global Certificate only upon compliance
with the provisions of this Section 5.02(c)(ii)(B). Upon receipt by the Certificate Registrar at the Corporate Trust Office
of (1) written instructions given in accordance with the Applicable Procedures from an Agent Member directing the Certificate
Registrar to credit or cause to be credited to another specified Agent Member’s account a beneficial interest in the Regulation
S Global Certificate in an amount equal to the Denomination of the beneficial interest in the Rule 144A Global Certificate
to be transferred, (2) a written order given in accordance with the Applicable Procedures containing information regarding
the account of the Agent Member and, in the case of a transfer pursuant to and in accordance with Regulation S, the Euroclear or
Clearstream account, as the case may be, to be credited with, and the account of the Agent Member to be debited for, such beneficial
interest, and (3) a certificate in the form of Exhibit I to this Agreement given by the Beneficial Owner of such
interest, the Certificate Registrar shall instruct the Depository or the Certificate Custodian, as applicable, to reduce the Denomination
of the Rule 144A Global Certificate by the aggregate Denomination of the beneficial interest in the Rule 144A Global
Certificate to be so transferred and, concurrently with such reduction, to increase the Denomination of the Regulation S Global
Certificate by the aggregate Denomination of the beneficial interest in the Rule 144A Global Certificate to be so transferred,
and to credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the
Regulation S Global Certificate having a Denomination equal to the amount by which the Denomination of the Rule 144A Global
Certificate was reduced upon such transfer.

 

(C)          Regulation
S Global Certificate to Rule 144A Global Certificate. If the Beneficial Owner of an interest in a Regulation S Global
Certificate wishes at any time to transfer its beneficial interest in such Regulation S Global Certificate to a Person who wishes
to take delivery thereof in the form of a beneficial interest in the related Rule 144A Global Certificate, such Beneficial
Owner may, in addition to complying with all Applicable Procedures, transfer or cause the transfer of such beneficial interest
for an equivalent beneficial interest in such Rule 144A Global Certificate only upon compliance with the provisions of this
Section 5.02(c)(ii)(C). Upon receipt by the Certificate Registrar at the Corporate Trust Office of (1) written instructions
given in accordance with the Applicable Procedures from an Agent Member directing the Certificate Registrar to credit or cause
to be credited to another specified Agent Member’s account a beneficial interest in the Rule 144A Global Certificate
in an amount equal to the Denomination of the beneficial interest in the Regulation S Global Certificate to be transferred, (2) a
written order given in accordance with the Applicable Procedures containing information regarding the account of the Agent Member
to be credited with, and the account of the Agent Member or, if such account is held for Euroclear or Clearstream, the Euroclear
or Clearstream account, as the

 

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case may be, to be debited for, such beneficial interest, and (3) with respect to a transfer of
a beneficial interest in a Regulation S Global Certificate for a beneficial interest in the related Rule 144A Global Certificate
(i) during the Restricted Period, a certificate in the form of Exhibit J to this Agreement given by the holder
of such beneficial interest or (ii) after the Restricted Period, an Investment Representation Letter from the transferee to
the effect that such transferee is a Qualified Institutional Buyer, the Certificate Registrar shall instruct the Depository or
the Certificate Custodian, as applicable, to reduce the Denomination of the Regulation S Global Certificate by the aggregate Denomination
of the beneficial interest in the Regulation S Global Certificate to be transferred, and, concurrently with such reduction, to
increase the Denomination of the Rule 144A Global Certificate by the aggregate Denomination of the beneficial interest in
the Regulation S Global Certificate to be so transferred, and to credit or cause to be credited to the account of the Person specified
in such instructions a beneficial interest in such Rule 144A Global Certificate having a Denomination equal to the amount
by which the Denomination of the Regulation S Global Certificate was reduced upon such transfer.

 

(iii)           Transfers
from the Private Global Certificates to Individual Certificates. Any and all transfers from a Private Global Certificate to
a transferee wishing to take delivery in the form of an Individual Certificate will require the transferee to take delivery subject
to the restrictions on the transfer of such Individual Certificate described in a legend set forth on the face of such Certificate
substantially in the form of Exhibit F to this Agreement (the “Securities Legend”), and such transferee
agrees that it will transfer such Individual Certificate only as provided therein and herein. No such transfer shall be made and
the Certificate Registrar shall not register any such transfer unless such transfer is made in accordance with this Section 5.02(c)(iii).

 

(A)          Transfers
of a beneficial interest in a Private Global Certificate to an Institutional Accredited Investor will require delivery in the form
of an Individual Certificate and the Certificate Registrar shall register such transfer only upon compliance with the provisions
of Section 5.02(c)(i)(C) of this Agreement.

 

(B)          Transfers
of a beneficial interest in a Private Global Certificate to a Qualified Institutional Buyer or a Regulation S Investor wishing
to take delivery in the form of an Individual Certificate will be registered by the Certificate Registrar only upon compliance
with the provisions of Section 5.02(c)(i)(A) or (B) of this Agreement, respectively.

 

(C)          Notwithstanding
the foregoing, no transfer of a beneficial interest in a Regulation S Global Certificate to an Individual Certificate pursuant
to Subparagraph (B) above shall be made prior to the expiration of the Restricted Period.

 

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Upon acceptance for exchange
or transfer of a beneficial interest in a Private Global Certificate for an Individual Certificate, as provided herein, the Certificate
Registrar shall endorse on the schedule affixed to the related Private Global Certificate (or on a continuation of such schedule
affixed to such Private Global Certificate and made a part thereof) an appropriate notation evidencing the date of such exchange
or transfer and a decrease in the Denomination of such Private Global Certificate equal to the Denomination of such Individual
Certificate issued in exchange therefor or upon transfer thereof. Unless determined otherwise by the Certificate Registrar and
the Depositor in accordance with applicable law, an Individual Certificate issued upon transfer of or exchange for a beneficial
interest in the Private Global Certificate shall bear the Securities Legend.

 

(iv)          Transfers
of Individual Certificates to the Private Global Certificates. If a Holder of an Individual Certificate wishes at any time
to transfer such Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related
Regulation S Global Certificate or the related Rule 144A Global Certificate, such transfer may be effected only in accordance
with the Applicable Procedures and this Section 5.02(c)(iv). Upon receipt by the Certificate Registrar at the Corporate Trust
Office of (l) the Individual Certificate to be transferred with an assignment and transfer pursuant to Section 5.05(a) of
this Agreement, (2) written instructions given in accordance with the Applicable Procedures from an Agent Member directing
the Certificate Registrar to credit or cause to be credited to a specified Agent Member’s account a beneficial interest in
such Regulation S Global Certificate or such Rule 144A Global Certificate, as the case may be, in an amount equal to the Denomination
of the Individual Certificate to be so transferred, (3) a written order given in accordance with the Applicable Procedures
containing information regarding the account of the Agent Member and, in the case of any transfer pursuant to Regulation S, the
Euroclear or Clearstream account, as the case may be, to be credited with such beneficial interest, and (4) (x) an Investment
Representation Letter from the transferee and, if delivery is to be taken in the form of a beneficial interest in the Regulation
S Global Certificate, a Regulation S Transfer Certificate from the transferor or (y) an Investment Representation Letter from
the transferee to the effect that such transferee is a Qualified Institutional Buyer if delivery is to be taken in the form of
a beneficial interest in the Rule 144A Global Certificate, the Certificate Registrar shall cancel such Individual Certificate,
execute and deliver a new Individual Certificate for the Denomination of the Individual Certificate not so transferred, registered
in the name of the Holder or the Holder’s transferee (as instructed by the Holder), and the Certificate Registrar shall instruct
the Depository or the Certificate Custodian, as applicable, to increase the Denomination of the Regulation S Global Certificate
or the Rule 144A Global Certificate, as the case may be, by the Denomination of the Individual Certificate to be so transferred,
and to credit or cause to be credited to the account of the Person specified in such instructions who, in the case of any increase
in the Regulation S Global Certificate during the Restricted Period, shall be an Agent Member acting for or on behalf of Euroclear
or Clearstream, or both, as the case may be, a corresponding Denomination of the Rule 144A Global Certificate or the Regulation
S Global Certificate, as the case may be.

 

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It is the intent of the foregoing
that under no circumstances may an Institutional Accredited Investor that is not a Qualified Institutional Buyer take delivery
in the form of a beneficial interest in a Private Global Certificate, other than the initial transfer from the Initial Purchasers
to an initial investor.

 

(v)          All
Transfers. An exchange of a beneficial interest in a Global Certificate for an Individual Certificate or Certificates, an exchange
of an Individual Certificate or Certificates for a beneficial interest in a Global Certificate and an exchange of an Individual
Certificate or Certificates for another Individual Certificate or Certificates (in each case, whether or not such exchange is made
in anticipation of subsequent transfer, and, in the case of the Global Certificates, so long as the Global Certificates remain
outstanding and are held by or on behalf of the Depository), may be made only in accordance with this Section 5.02 and in
accordance with the rules of the Depository and Applicable Procedures.

 

(d)          If
Certificates are issued upon the transfer, exchange or replacement of Certificates not bearing the Securities Legend, the Certificates
so issued shall not bear the Securities Legend. If Certificates are issued upon the transfer, exchange or replacement of Certificates
bearing the Securities Legend, or if a request is made to remove the Securities Legend on a Certificate, the Certificates so issued
shall bear the Securities Legend, or the Securities Legend shall not be removed, as the case may be, unless there is delivered
to the Certificate Registrar such satisfactory evidence, which may include an opinion of counsel (at the expense of the party requesting
the removal of such legend) familiar with United States securities laws, as may be reasonably required by the Certificate
Registrar, that neither the Securities Legend nor the restrictions on transfers set forth therein are required to ensure that transfers
of any Certificate comply with the provisions of Rule 144A or Rule 144 under the Act or that such Certificate is not
a “restricted security” within the meaning of Rule 144 under the Act. Upon provision of such satisfactory evidence,
the Certificate Registrar shall execute and deliver a Certificate that does not bear the Securities Legend.

 

(e)          Subject
to the restrictions on transfer and exchange set forth in Section 5.01(i) and in this Section 5.02, the Holder of any
Individual Certificate may transfer or exchange the same in whole or in part (with a denomination equal to any authorized denomination)
by surrendering such Certificate at the office of the Certificate Administrator or at the office of any transfer agent appointed
as provided under this Agreement, together with an instrument of assignment or transfer (executed by the Holder or its duly authorized
attorney), in the case of transfer, and a written request for exchange, in the case of exchange. Following a proper request for
transfer or exchange, the Certificate Registrar shall, within five Business Days of such request if made at such office of the
Certificate Administrator or within ten Business Days if made at the office of a transfer agent (other than the Certificate Registrar),
execute and deliver at the office of the Certificate Administrator or at the office of such transfer agent, as the case may be,
to the transferee (in the case of transfer) or Holder (in the case of exchange) or send by first-class mail (at the risk of the
transferee in the case of transfer or Holder in the case of exchange) to such address as the transferee or Holder, as applicable,
may request, an Individual Certificate or Certificates, as the case may require, for a like aggregate Denomination and in such
Denomination or Denominations as may be requested.

 

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The presentation for transfer or exchange of any Individual Certificate shall
not be valid unless made at the office of the Certificate Administrator or at the office of a transfer agent by the registered
Holder in person, or by a duly authorized attorney-in-fact. The Certificate Registrar may decline to accept any request for an
exchange or registration of transfer of any Certificate during the period of 15 days preceding any Distribution Date.

 

(f)          An
Individual Certificate (other than an Individual Certificate issued in exchange for a beneficial interest in a Global Certificate
pursuant to Section 5.01 of this Agreement) or a beneficial interest in a Private Global Certificate may only be transferred
to Eligible Investors, as described herein. In the event that a Responsible Officer of the Certificate Registrar has actual knowledge
that such an Individual Certificate or beneficial interest in a Private Global Certificate is being held by or for the benefit
of a Person who is not an Eligible Investor, or that such holding is unlawful under the laws of a relevant jurisdiction, then the
Certificate Registrar shall have the right to void such transfer, if permitted under applicable law, or to require the investor
to sell such Individual Certificate or beneficial interest in a Private Global Certificate to an Eligible Investor within fourteen
days after notice of such determination and each Certificateholder by its acceptance of a Certificate authorizes the Certificate
Registrar to take such action.

 

(g)          Subject
to the provisions of this Section 5.02 regarding transfer and exchange, transfers of the Global Certificates shall be limited
to transfers of such Global Certificates in whole, but not in part, to nominees of the Depository or to a successor of the Depository
or such successor’s nominee.

 

(h)          No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in this Section 5.02 other than for transfers to Institutional Accredited Investors, as provided herein.
In connection with any transfer to an Institutional Accredited Investor, the transferor shall reimburse the Trust Fund for any
costs (including the cost of the Certificate Registrar’s counsel’s review of the documents and any legal opinions,
submitted by the transferor or transferee to the Certificate Registrar as provided herein) incurred by the Certificate Registrar
in connection with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover
any tax, expense or other governmental charge payable in connection with any such transfer.

 

(i)          Subject
to Section 5.02(e) of this Agreement, transfers of the Class V, Class R and Class LR Certificates may
be made only in accordance with this Section 5.02(i). The Certificate Registrar shall register the transfer of a Class R
or Class LR Certificate only if (x) the transferor has advised the Certificate Registrar in writing that such Certificate
is being transferred to a Qualified Institutional Buyer and (y) prior to such transfer the transferee furnishes to the Certificate
Registrar an Investment Representation Letter. The Certificate Registrar shall register the transfer of a Class V Certificate only
if (x) the transferor has advised the Certificate Registrar in writing that such Certificate is being transferred to a Qualified
Institutional Buyer or an Affiliated Person or an Institutional Accredited Investor and (y) prior to such transfer the transferee
furnishes to the Certificate Registrar an Investment Representation Letter. In addition, the Certificate Registrar may as a condition
of the registration of any such transfer require the transferor to furnish such other certifications, legal

 

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opinions or other information
(at the transferor’s expense) as it may reasonably require to confirm that the proposed transfer is being made pursuant to
an exemption from, or in a transaction not subject to, the registration requirements of the Act and other applicable laws.

 

(j)           No
transfer, sale, pledge or other disposition of any Class of Private Certificates or interest therein shall be made unless that
transfer, sale, pledge or other disposition is exempt from the registration and/or qualification requirements of the Act and any
applicable state securities laws, or is otherwise made in accordance with the Act and such state securities laws. Neither the Depositor,
the Master Servicer, the Certificate Administrator, the Trustee nor the Certificate Registrar are obligated to register or qualify
the Private Certificates under the Act or any other securities law or to take any action not otherwise required under this Agreement
to permit the transfer of such Private Certificates without registration or qualification. Any Certificateholder desiring to effect
such a transfer shall, and does hereby agree to, indemnify the Depositor, the Master Servicer, the Certificate Administrator, the
Trustee and the Certificate Registrar, against any loss, liability or expense that may result if the transfer is not so exempt
or is not made in accordance with such federal and state laws.

 

(k)          No
transfer of any Class E, Class F, Class G, Class H, Class V, Class R or Class LR Certificate
(each, a “Restricted Certificate”) shall be made to (i) an employee benefit plan subject to the fiduciary
responsibility provisions of ERISA, or Section 4975 of the Code, or a governmental plan, as defined in Section 3(32)
of ERISA, subject to any federal, state or local law (“Similar Law”) which is to a material extent similar to
the foregoing provisions of ERISA or the Code (each, a “Plan”) or (ii) a collective investment fund whose
underlying assets include Plan assets by reason of a Plan’s investment in the collective investment fund (pursuant to U.S.
Department of Labor Regulation Section 2510.3-101, as modified by Section 3(42) of ERISA, an insurance company using the assets
of its general account under circumstances whereby such purchase and the subsequent holding of such Certificate by such insurance
company would be exempt from the “prohibited transaction” provisions of Sections 406 and 407 of ERISA and Code
Section 4975 under Sections I and III of PTCE 95-60, or a substantially similar exemption under Similar Law. Each prospective
transferee of a Restricted Certificate shall either (A) deliver to the Depositor, the Certificate Registrar and the Certificate
Administrator, a transfer or representation letter, substantially in the form of Exhibit D-2 to this Agreement, stating
that the prospective transferee is not a Person referred to in (i) or (ii) above or (B) if the transferee is such an
entity specified in (i) or (ii) above (except in the case of a Class V Certificate or a Residual Certificate, which may not
be transferred unless the transferee represents it is not such an entity), such entity, at its own expense, shall provide any opinion
of counsel, officers’ certificates or agreements as may be required by, and in form and substance satisfactory to, the Depositor,
the Certificate Administrator and the Certificate Registrar, to the effect that the purchase and holding of the Certificates by
or on behalf of a Plan will not constitute or result in a non-exempt prohibited transaction within the meaning of Sections 406
and 407 of ERISA and Section 4975 of the Code, and will not subject the Master Servicer, the Special Servicer, the Operating
Advisor, the Depositor, the Certificate Administrator, the Trustee or the Certificate Registrar to any obligation or liability.
None of the Certificate Administrator or the Certificate Registrar shall register a Class V, Class R or Class LR
Certificate in any Person’s name unless such Person has provided the letter referred to in clause (A) of the preceding
sentence. The transferee of a beneficial interest in a Global Certificate that is a Restricted Certificate shall be deemed to

 

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represent
that it is not a Plan or a Person acting on behalf of any Plan or using the assets of any Plan to acquire such interest other than
(with respect to transfers of beneficial interests in Global Certificates which are Restricted Certificates other than the Class
V Certificates and the Residual Certificates) an insurance company using the assets of its general account under circumstances
whereby such transfer to such insurance company would be exempt from the “prohibited transaction” provisions of Sections 406
and 407 of ERISA and Section 4975 of the Code under Sections I and III of PTCE 95-60, or a substantially similar exemption
under Similar Law. Any transfer of a Restricted Certificate that would violate or result in a non-exempt prohibited transaction
under ERISA or Section 4975 of the Code or Similar Law shall be deemed absolutely null and void ab initio.

 

(l)          Each
Person who has or acquires any Ownership Interest shall be deemed by the acceptance or acquisition of such Ownership Interest to
have agreed to be bound by the following provisions and the rights of each Person acquiring any Ownership Interest are expressly
subject to the following provisions:

 

(i)          Each
Person acquiring or holding any Ownership Interest shall be a Permitted Transferee and shall not acquire or hold such Ownership
Interest as agent (including a broker, nominee or other middleman) on behalf of any Person that is not a Permitted Transferee.
Any such Person shall promptly notify the Certificate Registrar of any change or impending change in its status (or the status
of the beneficial owner of such Ownership Interest) as a Permitted Transferee. Any acquisition described in the first sentence
of this Section 5.02(l) by a Person who is not a Permitted Transferee or by a Person who is acting as an agent of a Person
who is not a Permitted Transferee shall be void and of no effect, and the immediately preceding owner who was a Permitted Transferee
shall be restored to registered and beneficial ownership of the Ownership Interest as fully as possible.

 

(ii)        No
Ownership Interest may be Transferred, and no such Transfer shall be registered in the Certificate Register, without the express
written consent of the Certificate Registrar, and the Certificate Registrar shall not recognize the Transfer, and such proposed
Transfer shall not be effective, without such consent with respect thereto. In connection with any proposed Transfer of any Ownership
Interest, the Certificate Registrar shall, as a condition to such consent, (x) require delivery to it in form and substance
satisfactory to it, and the proposed transferee shall deliver to the Certificate Registrar and to the proposed transferor an affidavit
in substantially the form attached as Exhibit C-1 (a “Transferee Affidavit”) of the proposed transferee
(A) that such proposed transferee is a Permitted Transferee and (B) stating that (i) the proposed transferee historically
has paid its debts as they have come due and intends to do so in the future, (ii) the proposed transferee understands that,
as the holder of an Ownership Interest, it may incur liabilities in excess of cash flows generated by the residual interest, (iii) the
proposed transferee intends to pay taxes associated with holding the Ownership Interest as they become due, (iv) the proposed
transferee will not transfer the Ownership Interest to any Person that does not provide a Transferee Affidavit or as to which the
proposed transferee has actual knowledge that such Person is not a Permitted Transferee or is acting as an agent (including a broker,
nominee or other middleman) for a Person that is not a Permitted Transferee, (v) the proposed transferee will not

 

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cause income
from the Class R or Class LR Certificate to be attributable to a foreign permanent establishment or fixed base, within
the meaning of an applicable income tax treaty, of the proposed transferee or any other U.S. Person and (vi) the proposed
transferee expressly agrees to be bound by and to abide by the provisions of this Section 5.02(l) and (y) other than
in connection with the initial issuance of the Class R and Class LR Certificates, require a statement from the proposed
transferor substantially in the form attached as Exhibit C-2 (the “Transferor Letter”), that the
proposed transferor has no actual knowledge that the proposed transferee is not a Permitted Transferee and has no actual knowledge
or reason to know that the proposed transferee’s statements in the Transferee Affidavit are false.

 

(iii)       Notwithstanding
the delivery of a Transferee Affidavit by a proposed transferee under clause (ii) above, if a Responsible Officer of the Certificate
Registrar has actual knowledge that the proposed transferee is not a Permitted Transferee, no Transfer to such proposed transferee
shall be effected and such proposed Transfer shall not be registered on the Certificate Register; provided, that the Certificate
Registrar shall not be required to conduct any independent investigation to determine whether a proposed transferee is a Permitted
Transferee.

 

Neither the Certificate
Administrator nor the Certificate Registrar shall have any obligation or duty to monitor, determine or inquire as to compliance
with any restriction or transfer imposed under Article V of this Agreement or under applicable law with respect to any transfer
of any Certificate (including, without limitation, the Securities Legend), or any interest therein, other than to require delivery
of the certification(s) and/or opinions of counsel described in Article V applicable with respect to changes in registration
of record ownership of Certificates in the Certificate Register. The Certificate Administrator and the Certificate Registrar shall
have no liability for transfers, including transfers made through the book-entry facilities of the Depository or between or among
Depository Participants or Beneficial Owners made in violation of applicable restrictions.

 

Upon written notice to
the Certificate Registrar, or upon the Certificate Registrar having actual knowledge, that there has occurred a Transfer to any
Person that is a Disqualified Organization or an agent thereof (including a broker, nominee, or middleman) in contravention of
the foregoing restrictions, and in any event not later than 60 days after a request for information from the transferor of
such Ownership Interest, or such agent, the Certificate Registrar and the Certificate Administrator agree to furnish to the IRS
and the transferor of such Ownership Interest or such agent such information necessary to the application of Section 860E(e) of
the Code as may be required by the Code, including, but not limited to, the present value of the total anticipated excess inclusions
with respect to such Class R or Class LR Certificate (or portion thereof) for periods after such Transfer. At the election
of the Certificate Registrar and the Certificate Administrator, the Certificate Registrar and the Certificate Administrator may
charge a reasonable fee for computing and furnishing such information to the transferor or to such agent referred to above; provided
that such Persons shall in no event be excused from furnishing such information.

 

Section 5.03     Mutilated,
Destroyed, Lost or Stolen Certificates. If (i) any mutilated Certificate is surrendered to the Certificate
Registrar, or the Certificate Registrar

 

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receives evidence to its satisfaction of the destruction, loss or theft of any
Certificate, and (ii) there is delivered to the Certificate Registrar such security or indemnity as may be required by
it to save it and the Certificate Administrator harmless, then, in the absence of actual knowledge by a Responsible Officer
of the Certificate Registrar that such Certificate has been acquired by a bona fide purchaser, the Certificate Administrator
or the Authenticating Agent shall execute and authenticate and the Certificate Registrar shall deliver, in exchange for or in
lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of the same Class and of like tenor and
Percentage Interest. Upon the issuance of any new Certificate under this Section 5.03, the Certificate Registrar may
require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto
and any other expenses (including the fees and expenses of the Certificate Registrar) connected therewith. Any replacement
Certificate issued pursuant to this Section 5.03 shall constitute complete and indefeasible evidence of ownership of the
corresponding interest in the Trust Fund, as if originally issued, whether or not the lost, stolen or destroyed Certificate
shall be found at any time.

 

Section 5.04     Appointment
of Paying Agent. The Certificate Administrator may appoint a paying agent (a “Paying Agent”) for the
purpose of making distributions to Certificateholders pursuant to Section 4.01 of this Agreement. The Certificate
Administrator shall cause such Paying Agent, if other than the Certificate Administrator, the Trustee or the Master Servicer,
to execute and deliver to the Master Servicer and the Trustee an instrument in which such Paying Agent shall agree with the
Master Servicer and the Trustee that such Paying Agent will hold all sums held by it for the payment to Certificateholders in
trust for the benefit of the Certificateholders entitled thereto until such sums have been paid to the Certificateholders or
disposed of as otherwise provided herein. The initial Paying Agent shall be the Certificate Administrator. Except for the
Certificate Administrator, as the initial Paying Agent, the Paying Agent shall at all times be an entity having a long-term
unsecured debt rating of at least “A2” from Moody’s, “A” from Fitch and an equivalent rating
from KBRA (if rated by KBRA), or shall be the subject of a No Downgrade Confirmation from each Rating Agency.

 

Section 5.05     Access
to Certificateholders’ Names and Addresses; Special Notices. (a) If any Certifying Certificateholder (for purposes
of this Section 5.05, an “Applicant”) applies in writing to the Certificate Registrar, and such
application states that the Applicant desires to communicate with other Certificateholders, the Certificate Registrar shall
furnish or cause to be furnished to such Applicant a list of the names and addresses of the Certificateholders as of the most
recent Record Date, at the expense of the Applicant.

 

(b)          Every
Certificateholder, by receiving and holding its Certificate, agrees with the Certificate Administrator and the Certificate Registrar
that the Certificate Administrator and the Certificate Registrar shall not be held accountable in any way by reason of the disclosure
of any information as to the names and addresses of the Certificateholders hereunder, regardless of the source from which such
information was derived.

 

(c)          Upon
the written request of any Certifying Certificateholder that (a) states that such Certificateholder desires the Certificate
Administrator to transmit a notice to all Certificateholders stating that such Certificateholder wishes to be contacted by other

 

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Certificateholders, setting forth the relevant contact information and briefly stating the reason for the requested contact and
(b) provides a copy of the Special Notice which such Certificateholder proposes to transmit, the Certificate Administrator
shall deliver such Special Notice to all Certificateholders at their respective addresses appearing on the Certificate Register.
The costs and expenses of the Certificate Administrator associated with delivering with any such Special Notice shall be borne
by the party requesting such Special Notice. Every Certificateholder, by receiving and holding a Certificate, agrees that neither
the Certificate Administrator nor the Certificate Registrar shall be held accountable by reason of the disclosure of any such Special
Notice to Certificateholders, regardless of the information set forth in such Special Notice.

 

Section 5.06     Actions
of Certificateholders. (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Agreement to be given or taken by Certificateholders may be embodied in and evidenced by one or more
instruments of substantially similar tenor signed by such Certificateholders in person or by agent duly appointed in writing;
and except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are
delivered to the Certificate Administrator and the Trustee and, when required, to the Master Servicer. Proof of execution of
any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Agreement and
conclusive in favor of the Certificate Administrator, the Trustee and the Master Servicer, if made in the manner provided in
this Section.

 

(b)          The
fact and date of the execution by any Certificateholder of any such instrument or writing may be proved in any reasonable manner
which the Certificate Administrator or the Trustee deems sufficient.

 

(c)          Any
request, demand, authorization, direction, notice, consent, waiver or other act by a Certificateholder shall bind every Holder
of every Certificate issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of
anything done, or omitted to be done, by the Certificate Administrator or the Trustee or the Master Servicer in reliance thereon,
whether or not notation of such action is made upon such Certificate.

 

(d)          The
Certificate Administrator, the Trustee or Certificate Registrar may require such additional proof of any matter referred to in
this Section 5.06 as it shall deem necessary.

 

Section 5.07     Rule
144A Information. The Certificate Administrator shall, upon request of any Certifying Certificateholder that is a Holder
of a Private Certificate or any beneficial owner of such a Certificate, furnish to such Holder or beneficial owner or a
prospective purchaser designated by such Holder or beneficial owner who is a Qualified Institutional Buyer the information
required to be delivered under Rule 144A(d)(4) under the Act, to the extent such information has been provided to the
Certificate Administrator and has been identified as Rule 144A information (which shall include all information on the
Certificate Administrator’s Website and all information currently required to be made available to Certificateholders,
as well as any other specifically identified information herein), if at the time

 

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of such request periodic reports are not
being filed with respect to the Trust under Section 13 or Section 15(d) of the Exchange Act.

 

Article VI

THE DEPOSITOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE DIRECTING HOLDER AND THE OPERATING ADVISOR

 

Section 6.01     Liability
of the Depositor, the Master Servicer, the Special Servicer and the Operating Advisor. The Depositor, the Master
Servicer, the Special Servicer and the Operating Advisor each shall be liable in accordance herewith only to the extent of
the obligations specifically imposed by this Agreement.

 

Section 6.02     Merger
or Consolidation of the Master Servicer, the Special Servicer, the Depositor or the Operating Advisor. Subject to the
following paragraph, each of the Master Servicer and the Special Servicer shall keep in full effect its existence, rights and
good standing as a national banking association under the laws of the United States of America or a limited liability company
under the laws of the State of Delaware, respectively, and shall not jeopardize its ability to do business in each
jurisdiction in which the Mortgaged Properties securing the Mortgage Loans that it is servicing are located or to protect the
validity and enforceability of this Agreement, the Certificates or any of such Mortgage Loans that it is servicing and to
perform its respective duties under this Agreement. In addition, subject to the following paragraph, the Operating Advisor
shall keep in full effect its existence, rights and good standing as a limited liability company under the laws of the State
of New York and shall not jeopardize its ability to do business in each jurisdiction in which the Mortgaged Properties are
located or to protect the validity and enforceability of this Agreement, the Certificates or any of such Mortgage Loans and
to perform its respective duties under this Agreement.

 

Each of the Master Servicer,
the Special Servicer, the Depositor or the Operating Advisor may be merged or consolidated with or into any Person, or transfer
all or substantially all of its assets to any Person, in which case any Person into which the Master Servicer, the Special Servicer,
the Depositor or the Operating Advisor may be merged or consolidated, or any Person resulting from any merger or consolidation
to which the Master Servicer, the Special Servicer, the Depositor or the Operating Advisor is a party, or any Person succeeding
to the business of the Master Servicer, the Special Servicer, the Depositor or the Operating Advisor, shall be the successor of
the Master Servicer, the Special Servicer, the Depositor or the Operating Advisor, as applicable, hereunder, and shall be deemed
to have assumed all of the liabilities of the Master Servicer, the Special Servicer, the Depositor or the Operating Advisor, as
applicable, hereunder, if each of the Rating Agencies has provided a No Downgrade Confirmation relating to the Certificates and
Serviced Companion Loan Securities, if any; provided that none of the Depositor, Master Servicer, Special Servicer or Operating
Advisor shall be required to obtain a No Downgrade Confirmation from any Rating Agency if the Depositor, Master Servicer, Special
Servicer or Operating Advisor, as applicable, is merged into or consolidated with a Qualified Affiliate or transfers all or substantially
all of its assets to a Qualified Affiliate; provided, further, if the Master Servicer, the Special Servicer or the
Operating Advisor enters into a merger and the Master Servicer, the Special Servicer or the Operating Advisor, as applicable, is
the surviving entity under applicable law, the Master Servicer, the Special Servicer or the Operating Advisor, as applicable, shall
not, as a result of

 

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the merger, be required to provide a No Downgrade Confirmation or obtain the consent of the Depositor. Notwithstanding
the foregoing, no Master Servicer, Special Servicer or Operating Advisor may remain the Master Servicer, Special Servicer or Operating
Advisor, as applicable, under this Agreement after (x) being merged or consolidated with or into any Person that is a Prohibited
Party, or (y) transferring all or substantially all of its assets to any Person if such Person is a Prohibited Party, except
to the extent (i) the Master Servicer, the Special Servicer or Operating Advisor, as applicable, is the surviving entity of
such merger, consolidation or transfer and has been and continues to be in compliance with its Regulation AB reporting obligations
hereunder or (ii) the Depositor consents to such merger, consolidation or transfer, which consent shall not be unreasonably
withheld.

 

Section 6.03     Limitation
on Liability of the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor and Others. (a) None of
the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor nor any Affiliates, directors, officers,
employees, members, managers, representatives or agents (including sub-servicers) of the Depositor, the Master Servicer, the
Special Servicer or the Operating Advisor shall be under any liability to the Trust Fund, the Certificateholders, any
Serviced Companion Loan Noteholders, any party hereto or any third party beneficiary for any action taken, or for refraining
from the taking of any action, in good faith pursuant to this Agreement (including actions taken or not taken at the
direction of any Directing Holder), or for errors in judgment; provided, that this provision shall not protect the
Depositor, the Master Servicer, the Special Servicer or the Operating Advisor, or any Affiliate, representative, member,
manager, director, officer, employee or agent (including sub-servicers) of the Depositor, the Master Servicer, the Special
Servicer or the Operating Advisor, against any breach of warranties or representations made herein, or against any liability
which would otherwise be imposed by reason of willful misconduct, bad faith, fraud or negligence (or in the case of
(x) the Master Servicer or Special Servicer, by reason of any specific liability imposed hereunder for a breach of the
Servicing Standard or (y) the Operating Advisor, by reason of any specific liability imposed hereunder for a breach of
the Operating Advisor Standard) in the performance of duties or by reason of negligent disregard of obligations or duties
hereunder. The Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, and any Affiliate,
representative, member, manager, director, officer, employee or agent (including sub-servicers) of the Depositor, the Master
Servicer, the Special Servicer or the Operating Advisor may rely in good faith on any document of any kind which, prima
facie, is properly executed and submitted by any appropriate Person respecting any matters arising hereunder. In
addition, in no event shall the Depositor be obligated to cause any party to perform or comply with the obligations to remit
the CREFC® License Fee to CREFC®, to report any such CREFC® License Fee so paid
or to make available any Distribution Date Statement to the general public (or in particular, CREFC®).

 

The Trust Fund and each
Serviced Companion Loan Noteholder shall be indemnified and held harmless by each of the Master Servicer, the Special Servicer
and the Operating Advisor (severally and not jointly) for any loss, liability or expense (including legal fees and expenses) incurred
in connection with any claim, loss, penalty, fine, foreclosure, judgment or liability relating to this Agreement or the Certificates,
incurred by the Trust Fund or such Serviced Companion Loan Noteholder, as applicable, by reason of willful misconduct,

 

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bad faith,
fraud or negligence in the performance of duties hereunder, or by reason of negligent disregard of obligations and duties thereunder,
on the part of such indemnifying party.

 

The Depositor, the Master
Servicer, the Special Servicer, the Operating Advisor and any Affiliates, directors, officers, employees, members, managers, representatives
and agents (including sub-servicers) of the Depositor, the Master Servicer, the Special Servicer and the Operating Advisor shall
be indemnified and held harmless by the Trust Fund for any loss, liability or expense (including legal fees and expenses) incurred
in connection with any claim, loss, penalty, fine, foreclosure, judgment, liability or legal action relating to this Agreement
or the Certificates, other than any loss, liability or expense (including legal fees and expenses) (i) incurred by such party
by reason of willful misconduct, bad faith, fraud or negligence in the performance of duties hereunder or by reason of negligent
disregard of obligations and duties thereunder or (ii) in the case of the Depositor and any of its Affiliates, directors,
officers, representatives, members, managers, employees and agents, incurred in connection with any violation by any of them of
any state or federal securities law; provided that such indemnified parties shall be paid out of the Collection Account
in accordance with Section 3.06(a) of this Agreement; provided, further, that if such matter relates directly
to any Serviced Loan Combination, such indemnified parties shall be paid first out of the applicable Serviced Loan Combination
Collection Account (allocated in accordance with the expense allocation provision of the related Intercreditor Agreement), and
then, if funds therein are insufficient, out of the Collection Account; provided that the Master Servicer shall,
after receiving payment from amounts on deposit in the Collection Account, if any, (i) promptly notify the related Companion
Loan Noteholder and (ii) use commercially reasonable efforts to exercise on behalf of the Trust any rights under the related
Intercreditor Agreement to obtain reimbursement for a pro rata portion of such amount allocable to the related Serviced Companion
Loan from the related Companion Loan Noteholder.

 

The Depositor
shall indemnify the Operating Advisor (both in its capacity as Operating Advisor and individually) and each of its Affiliates
and each of its directors, officers, employees, representatives and agents, and hold each of them harmless against any and
all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any other
costs, fees and expenses that such indemnified party may sustain in connection with this Agreement (including, without
limitation, reasonable fees and disbursements of counsel incurred by such indemnified party in any action or proceeding
between the Depositor and such indemnified party or between such indemnified party and any third party or otherwise)
resulting from the Depositor’s willful misconduct, bad faith, fraud or negligence in the performance of each of its
duties hereunder or by reason of negligent disregard of its respective obligations and duties hereunder.

 

The Operating Advisor
shall indemnify the Depositor (both in its capacity as Depositor and individually) and each of its Affiliates and each of its directors,
officers, employees, representatives and agents, and hold each of them harmless against any and all claims, losses, damages, penalties,
fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, fees and expenses that such indemnified
party may sustain in connection with this Agreement (including, without limitation, reasonable fees and disbursements of counsel
incurred by such indemnified party in any action or proceeding between the Operating Advisor and such indemnified party or between
such indemnified party

 

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and any third party or otherwise) resulting from the Operating Advisor’s willful misconduct, bad faith,
fraud or negligence in the performance of each of its duties hereunder or by reason of negligent disregard of its respective obligations
and duties hereunder.

 

(b)          None
of the Depositor, the Master Servicer, the Special Servicer or the Operating Advisor shall be under any obligation to appear in,
prosecute or defend any legal action, unless such action relates to its respective duties under this Agreement and which in its
opinion does not expose it to any expense or liability not recoverable from the Trust Fund; provided, that each of the Depositor,
the Master Servicer, the Special Servicer or the Operating Advisor may in its discretion undertake any such action that it may
deem necessary or desirable in respect to this Agreement and the rights and duties of the parties hereto and the interests of the
Certificateholders and holders of Serviced Companion Loan Securities, if applicable, hereunder. In such event, the legal expenses
and costs of such action and any liability resulting therefrom shall be expenses, costs and liabilities of the Trust Fund and the
Depositor, the Master Servicer, the Special Servicer and the Operating Advisor shall be entitled to be reimbursed therefor from
the Collection Account in accordance with Section 3.06(a) of this Agreement no later than 60 days after submitting such expenses
or costs for reimbursement, provided that a failure to reimburse such parties within such 60 days will not affect or limit such
parties’ rights to receive reimbursement hereunder; provided, further, that in the case of any Serviced Loan Combination,
such amounts shall be allocated in accordance with the expense allocation provision of the related Intercreditor Agreement, and
such parties shall be entitled to be reimbursed first, from the applicable Serviced Loan Combination Collection Account
and then, from the Collection Account, all in accordance with Section 3.06(a) of this Agreement and the related Intercreditor
Agreement.

 

(c)          The
terms of this Section 6.03 shall survive the termination of any party hereto or of this Agreement.

 

Section 6.04     Limitation
on Resignation of the Master Servicer, the Special Servicer and the Operating Advisor; Termination of the Master Servicer,
the Special Servicer and the Operating Advisor. (a) Each of the Master Servicer, the Special Servicer and the Operating
Advisor may assign their respective rights and delegate their respective duties and obligations under this Agreement in
connection with the sale or transfer of a substantial portion of their commercial mortgage servicing, asset management or
(solely with respect to the Operating Advisor) commercial mortgage surveillance, portfolio, provided that:
(i) the purchaser or transferee accepting such assignment and delegation (A) shall be an established mortgage
finance institution, bank or mortgage servicing institution (or, in the case of the Operating Advisor, an Eligible Operating
Advisor), organized and doing business under the laws of the United States of America, any state of the United States of
America or the District of Columbia, authorized under such laws to perform the duties of the Master Servicer, Special
Servicer or Operating Advisor or a Person resulting from a merger, consolidation or succession that is permitted under
Section 6.02 of this Agreement, (B) shall be acceptable to each Rating Agency as confirmed in a No Downgrade
Confirmation delivered to the Trustee and the Certificate Administrator relating to the Certificates and Serviced Companion
Loan Securities, if any, (C) shall execute and deliver to the Trustee and the Certificate Administrator an agreement
that contains an assumption by such Person of the due and punctual performance and observance of each covenant and condition
to be performed or observed by the Master

 

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Servicer, Special Servicer or Operating Advisor, as applicable under this Agreement
from and after the date of such agreement and (D) shall not be a Prohibited Party; (ii) the Master Servicer, the
Special Servicer or the Operating Advisor shall not be released from its obligations under this Agreement that arose prior to
the effective date of such assignment and delegation under this Section 6.04; (iii) the rate at which the
Servicing Compensation, Special Servicing Compensation or Operating Advisor Fee, as applicable (or any component thereof) is
calculated shall not exceed the rate then in effect and (iv) the resigning Master Servicer, Special Servicer or
Operating Advisor, as applicable, shall be responsible for the reasonable costs and expenses of each other party hereto and
the Rating Agencies in connection with such transfer. Upon acceptance of such assignment and delegation, the purchaser or
transferee shall be the successor Master Servicer, Special Servicer or Operating Advisor, as applicable, hereunder.

 

(b)          Except
as provided in Section 6.02 of this Agreement and this Section 6.04, the Master Servicer, the Special Servicer and the
Operating Advisor shall not resign from its respective obligations and duties hereby imposed on it except (i) upon determination
that such duties hereunder are no longer permissible under applicable law, (ii) in connection with the assignment of rights
and delegation of duties as set forth in Section 6.04(a), or (iii) solely with respect to the Operating Advisor, pursuant
to Section 6.04(e). Any such determination described in clause (i) above permitting the resignation of the Master Servicer,
the Special Servicer or the Operating Advisor, as applicable, shall be evidenced by an Opinion of Counsel (obtained at the resigning
Master Servicer’s, Special Servicer’s or Operating Advisor’s expense) to such effect delivered to the Trustee
and the Certificate Administrator.

 

(c)          The
Trustee shall be permitted to remove the Master Servicer or the Special Servicer upon a Master Servicer Termination Event or Special
Servicer Termination Event, as applicable. Without limiting the generality of the succeeding paragraph, no such removal shall be
effective unless and until (i) the Master Servicer or the Special Servicer has been paid any unpaid Servicing Compensation
or Special Servicing Compensation, as applicable, unreimbursed Advances (including Advance Interest Amounts thereon to which it
is entitled) and all other amounts to which the Master Servicer or the Special Servicer is entitled hereunder to the extent such
amounts accrue prior to such effective date and (ii) with respect to a resignation by the Master Servicer, the successor Master
Servicer has deposited into the Investment Accounts from which amounts were withdrawn to reimburse the terminated Master Servicer,
an amount equal to the amounts so withdrawn, to the extent such amounts would not have been permitted to be withdrawn except pursuant
to this paragraph, in which case the successor Master Servicer shall, immediately upon deposit, have the same right of reimbursement
or payment as the terminated Master Servicer had immediately prior to its termination without regard to the operation of this paragraph.

 

(d)          Except
as otherwise provided in Section 6.04(e) of this Agreement, no resignation or removal of the Master Servicer, the Special Servicer
or the Operating Advisor as contemplated by the preceding paragraphs of this Section 6.04 shall become effective until the Trustee
or a successor Master Servicer, Special Servicer or Operating Advisor shall have assumed the resigning or terminated Master Servicer’s,
Special Servicer’s or Operating Advisor’s responsibilities, duties, liabilities and obligations hereunder. If no successor
Master

 

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Servicer, Special Servicer or Operating Advisor can be obtained to perform such obligations for the same compensation to
which the terminated Master Servicer, Special Servicer or Operating Advisor would have been entitled, additional amounts payable
to such successor Master Servicer, Special Servicer or Operating Advisor shall be treated as Realized Losses.

 

(e)          The
Operating Advisor shall have the right to resign without cost or expense upon the occurrence of the Early Termination Notice Date. 
The Operating Advisor shall provide all of the parties to this Agreement and the Controlling Class Representative 30 days prior
written notice of any such resignation pursuant to this Section 6.04(e).  If the Operating Advisor resigns pursuant to this
Section 6.04(e), then no replacement Operating Advisor shall be appointed. The resigning Operating Advisor shall be
entitled, and subject, to any rights and obligations that accrued under this Agreement prior to the date of any such resignation
(including accrued and unpaid compensation) and any indemnifications rights arising out of events occurring prior to such resignation.

 

Section 6.05     Rights
of the Depositor and the Trustee in Respect of the Master Servicer and the Special Servicer. Solely with respect to their
performance of their respective duties under this Agreement, the Master Servicer and the Special Servicer shall afford the
Depositor, the Underwriters, the Initial Purchasers, the Certificate Administrator, the Trustee and the Rating Agencies, upon
reasonable notice, during normal business hours access to all records maintained by it in respect of its rights and
obligations hereunder and access to its officers responsible for such obligations. Upon written request, the Master Servicer
and/or the Special Servicer, as applicable, shall furnish to the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator and the Trustee its most recent publicly available financial statements (or, with respect to the
Master Servicer, those of its ultimate parent) and such other non-proprietary information as the Master Servicer or the
Special Servicer, as the case may be, shall determine in its sole and absolute discretion as it possesses, which is relevant
to the performance of its duties hereunder and which it is not prohibited by applicable law or contract from disclosing. The
Depositor may, but is not obligated to, enforce the obligations of the Master Servicer or the Special Servicer hereunder
which are in default and may, but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of
such Person hereunder or exercise any rights of such Person hereunder, provided that the Master Servicer and the
Special Servicer shall not be relieved of any of its obligations hereunder by virtue of such performance by the Depositor or
its designee. If the Depositor or its designee undertakes any such action, it will be reimbursed by the Trust Fund from the
Collection Accounts (or with respect to a Serviced Loan Combination, to the extent such reimbursement is allocable to such
Serviced Loan Combination Collection Account), as provided in Section 3.06 and Section 6.03(a) hereof to the extent
not recoverable from the Master Servicer or Special Servicer, as applicable. None of the Depositor, the
Certificate Administrator, the Trustee, the Master Servicer (solely with respect to any action or failure to act by the
Special Servicer) or the Special Servicer (solely with respect to any action or failure to act by the Master Servicer) shall
have any responsibility or liability for any action or failure to act by the Master Servicer or the Special Servicer and no
such party is obligated to monitor or supervise the performance of the Master Servicer or the Special Servicer under this
Agreement or otherwise. Neither the Master Servicer nor the Special Servicer shall be under any obligation to disclose
confidential or proprietary information pursuant to this Section.

 

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Section 6.06     The
Master Servicer or Special Servicer as Owners of a Certificate. The Master Servicer or an Affiliate of the Master Servicer,
or the Special Servicer or an Affiliate of the Special Servicer, may become the Holder (or with respect to a Global Certificate,
Beneficial Owner) of any Certificate with the same rights it would have if it were not the Master Servicer or the Special Servicer
or an Affiliate thereof. If, at any time during which the Master Servicer or the Special Servicer or an Affiliate of the Master
Servicer or the Special Servicer is the Holder or Beneficial Owner of any Certificate, the Master Servicer or the Special Servicer
proposes to take action (including for this purpose, omitting to take action) that (i) is not expressly prohibited by the
terms hereof and would not, in the Master Servicer’s or the Special Servicer’s good faith judgment, violate the Servicing
Standard, and (ii) if taken, might nonetheless, in the Master Servicer’s or the Special Servicer’s good faith
judgment, be considered by other Persons to violate the Servicing Standard, the Master Servicer or the Special Servicer may, but
will not be required to, seek the approval of the Certificateholders to such action (or inaction) by delivering to the Certificate
Administrator a written notice that (i) states that it is delivered pursuant to this Section 6.06, (ii) identifies
the Percentage Interest in each Class of Certificates beneficially owned by the Master Servicer or the Special Servicer or an
Affiliate of the Master Servicer or the Special Servicer, and (iii) describes in reasonable detail the action (or inaction)
that the Master Servicer or the Special Servicer proposes to take (or refrain from taking). The Certificate Administrator, upon
receipt of such notice, shall forward it to the Certificateholders (other than the Master Servicer and its Affiliates or the Special
Servicer and its Affiliates, as appropriate) together with such instructions for response as the Certificate Administrator shall
reasonably determine. If at any time Certificateholders holding a majority of the Voting Rights of all Certificateholders and,
if no Control Termination Event has occurred and is continuing, the applicable Directing Holder (calculated without regard to
the Certificates beneficially owned by the Master Servicer or its Affiliates or, subject to clause (d) of the definition of “Certificateholder”,
the Special Servicer or its Affiliates, as applicable) shall have consented in writing to the proposal described in the written
notice, and if the Master Servicer or the Special Servicer shall act as proposed in the written notice, such action shall be deemed
to comply with the Servicing Standard. The Certificate Administrator shall be entitled to reimbursement from the Master Servicer
or the Special Servicer, as applicable, of the reasonable expenses of the Certificate Administrator incurred pursuant to this
paragraph. It is not the intent of the foregoing provision that the Master Servicer or the Special Servicer be permitted to invoke
the procedure set forth herein with respect to routine servicing matters arising hereunder, except in the case of unusual circumstances.

 

Section 6.07     The
Directing Holder. (a) For so long as no Control Termination Event has occurred and is continuing, the Directing Holder
shall be entitled to advise (1) the Special Servicer with respect to all Specially Serviced Loans, (2) the Special
Servicer with respect to Performing Loans as to Major Decisions, and (3) the Special Servicer with respect to all
Mortgage Loans for which an extension of maturity is being considered by the Special Servicer or by the Master Servicer
subject to consent or deemed consent of the Special Servicer, and notwithstanding anything herein to the contrary, except as
set forth in, and in any event subject to the second and third paragraphs of this Section 6.07, both (a) the Master
Servicer shall not be permitted to take any action constituting a Major Decision unless it has obtained the prior written
consent of the Special Servicer and (b) for so long as no

 

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Control Termination Event has occurred and is continuing, the
Special Servicer shall not be permitted to consent to the Master Servicer’s taking any of the following actions nor
will the Special Servicer itself be permitted to take any action constituting a Major Decision as to which the Directing
Holder has objected in writing within ten (10) Business Days (or 30 days with respect to clause (j) of the
definition of “Major Decision”) after receipt of the written recommendation and analysis (provided that if
such written objection has not been received by the Special Servicer within such ten (10) Business Day period (or
30 days with respect to clause (j) of the definition of “Major Decision” or such longer period provided
for in any related Intercreditor Agreement but not less than five (5) Business Days after the time period set forth therein
for Directing Holder approval), then the Directing Holder will be deemed to have approved such action); provided that,
if the Special Servicer or Master Servicer (if the Master Servicer is otherwise authorized by this Agreement to take such
action), as applicable, determines that immediate action, with respect to the foregoing matters, or any other
matter requiring consent of the Directing Holder (if no Control Termination Event has occurred and is continuing) in this
Agreement, is necessary to protect the interests of the Certificateholders and, with respect to any Serviced Loan
Combination, the related Serviced Companion Loan Noteholders (as a collective whole as if such Certificateholders and, if
applicable, Serviced Companion Loan Noteholders constituted a single lender and with respect to any Serviced Loan Combination
with a related Subordinate Companion Loan, taking into account the subordinate nature of such Subordinate Companion Loan) and
the Special Servicer has made a reasonable effort to contact the Directing Holder, the Master Servicer or the Special
Servicer, as the case may be, may take any such action without waiting for the Directing Holder’s response. The Special
Servicer is not required to obtain the consent of the Directing Holder for any Major Decision if a Control Termination Event
has occurred and is continuing; provided that, if a Control Termination Event has occurred and is continuing (and
without regard to the occurrence and continuance of a Consultation Termination Event), the Special Servicer shall consult
with the Operating Advisor in connection with any Major Decision and consider alternative actions recommended by the
Operating Advisor; provided, further, that, if a Control Termination Event has occurred and is continuing but
no Consultation Termination Event has occurred and is continuing, the Special Servicer shall consult with the Directing
Holder in connection with any Major Decision and any other matters set forth in this Agreement as to which the consent or
approval of the Directing Holder would have been required or as to which the Directing Holder would have had the right to
advise or direct the Special Servicer or the Master Servicer if no Control Termination Event had occurred and was continuing
and consider alternative actions recommended by the Directing Holder; provided, further, that such consultation
with the Directing Holder or the Operating Advisor is not binding on the Special Servicer.

 

In addition, for so long
as no Control Termination Event has occurred and is continuing, the Directing Holder may direct the Special Servicer to take, or
to refrain from taking, such other actions with respect to a Mortgage Loan as the Directing Holder may deem advisable or as to
which provision is otherwise made herein; provided that, notwithstanding anything herein to the contrary, no such direction,
and no objection contemplated by the preceding paragraph or this paragraph, may require or cause the Master Servicer or the Special
Servicer, as applicable, to violate any provision of any Mortgage Loan, applicable law, this Agreement, any Intercreditor Agreement
or the REMIC Provisions, including without limitation the Special Servicer’s obligation to act in accordance with the Servicing
Standard, or expose

 

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the Master Servicer, the Special Servicer, the Paying Agent, the Trust Fund, the Certificate Administrator
or the Trustee to liability, or materially expand the scope of the Special Servicer’s responsibilities hereunder.

 

If the Special Servicer
or Master Servicer, as applicable, determines that a refusal to consent by the Directing Holder, or any advice from the Directing
Holder, would otherwise cause the Special Servicer or Master Servicer, as applicable, to violate the terms of any Mortgage Loan,
any Intercreditor Agreement, applicable law, the REMIC Provisions or this Agreement, including without limitation, the Servicing
Standard, the Special Servicer or Master Servicer, as applicable, shall disregard such refusal to consent or advice and notify
the Directing Holder, the Trustee, the related Serviced Companion Loan Noteholder (if any) and the 17g-5 Information Provider (who
shall promptly post such notice to the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement)
of its determination, including a reasonably detailed explanation of the basis therefor. The taking of, or refraining from taking,
any action by the Master Servicer or Special Servicer in accordance with the direction of or approval of the Directing Holder that
does not violate any law or the Servicing Standard or any other provisions of this Agreement or any Intercreditor Agreement, will
not result in any liability on the part of the Master Servicer or the Special Servicer.

 

Notwithstanding anything
to the contrary contained in this Agreement, with respect to the Non-Serviced Mortgage Loans, (i) at all times when no Consultation
Termination Event has occurred and is continuing, the Controlling Class Representative shall be entitled to the rights of the “Non-Directing
Holder” (or similar term) under the related Intercreditor Agreement and (ii) at no time shall the Operating Advisor
be entitled to the rights of the “Non-Directing Holder” (or similar term) under the related Intercreditor Agreement.

 

The Directing Holder
shall have no liability to the Trust Fund, any party to this Agreement, any Certificateholders or any other Person for any action
taken, or for refraining from the taking of any action, or for errors in judgment; provided that the Directing Holder shall not
be protected against any liability to a Controlling Class Certificateholder that would otherwise be imposed by reason of willful
misfeasance or bad faith or negligence in the performance of duties or by reason of reckless disregard of obligations or duties.

 

(b)          Notwithstanding
anything to the contrary contained herein (i) if a Control Termination Event has occurred and is continuing, the Directing
Holder shall have no right to consent to any action taken or not taken by any party to this Agreement; (ii) if a Control Termination
Event has occurred and is continuing but no Consultation Termination Event has occurred and is continuing, the Directing Holder
shall remain entitled to receive any notices, reports or information to which it is entitled pursuant to this Agreement, and the
Master Servicer, Special Servicer and any other applicable party shall consult with the Directing Holder in connection with any
action to be taken or refrained from taking to the extent set forth herein; and (iii) if a Consultation Termination Event
has occurred and is continuing, the Directing Holder shall have no consultation or consent rights hereunder and no right to receive
any notices, reports or information (other than notices, Voting Rights given to all Certificateholders and rights to receive reports
or information required to be delivered to all Certificateholders) or any other rights as Directing Holder.

 

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(c)          The
Master Servicer, the Special Servicer, the Trustee or the Operating Advisor may from time to time request that the Certificate
Administrator provide the name of the then-current Directing Holder for any applicable Mortgage Loan or Serviced Loan Combination.
Upon such request, the Certificate Administrator shall promptly (but in no event more than five (5) Business Days following
such request) provide the name of the then-current Directing Holder to the Master Servicer, the Special Servicer, the Trustee or
the Operating Advisor, as applicable, but only to the extent the Certificate Administrator has actual knowledge of the identity
of the then-current Directing Holder; provided that if the Certificate Administrator does not have actual knowledge of the
identity of the then-current Directing Holder, then (i) the Certificate Administrator shall determine which Class is the Controlling
Class and (ii) the Certificate Administrator shall promptly (but in no event more than five (5) Business Days following
such request) request from the Depository, the list of Beneficial Owners of the Controlling Class, and the Certificate Administrator
shall provide such list to the Master Servicer, the Special Servicer, the Trustee or the Operating Advisor. Any expenses incurred
in connection with obtaining such information shall be at the expense of the requesting party, except that if (i) such expenses
arise in connection with an event as to which the Directing Holder (or Controlling Class Representative) has review, consent or
consultation rights with respect to an action taken by, or report prepared by, the requesting party pursuant to this Agreement
or in connection with a request made by the Operating Advisor in connection with its obligation under this Agreement to deliver
a copy of the Operating Advisor Annual Report to the Controlling Class Representative and (ii) the requesting party has not
been notified of the identity of the Directing Holder (or Controlling Class Representative) or reasonably believes that the identity
of the Directing Holder (or Controlling Class Representative) has changed, then such expenses shall be at the expense of the Trust.
The Master Servicer, the Special Servicer, the Trustee and the Operating Advisor shall be entitled to conclusively rely on any
such information so provided.

 

To the extent the Master
Servicer or the Special Servicer has written notice of any change in the identity of a Directing Holder or the list of Holders
(or Beneficial Owners, if applicable) of the Controlling Class, then the Master Servicer or the Special Servicer, as applicable,
shall promptly notify the Trustee, the Certificate Administrator, the Operating Advisor, the Master Servicer and the Special Servicer
thereof, who may rely conclusively on such notice from the Master Servicer or the Special Servicer, as applicable.

 

Section 6.08     Rights
of Non-Directing Holders. With respect to each Serviced Loan Combination, the Master Servicer or the Special Servicer, as
applicable, shall:

 

(a)          consult
with the related Non-Directing Holder (or its designee or representative) on a strictly non-binding basis, to the extent that such
Non-Directing Holder (or its designee or representative) requests consultation with respect to any “major decision”
or “major action” set forth in the related Intercreditor Agreement or the implementation of any recommended actions
outlined in an Asset Status Report relating to the Serviced Loan Combination, and to consider alternative actions recommended by
such Non-Directing Holder (or its designee or representative); provided, that after the expiration of a period of ten (10)
Business Days from the delivery to the related Non-Directing Holder (or its designee or representative) of written notice of a
proposed action, together with copies of the related

 

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notice, information or report, the Master Servicer or Special Servicer, as
applicable, shall no longer be obligated to consult with the applicable Non-Directing Holder (or its designee or representative)
(unless the Master Servicer or Special Servicer, as applicable, 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 begin anew from the date of such proposal
and delivery of all information relating thereto). Notwithstanding the foregoing non-binding consultation rights of the Non-Directing
Holder, the Master Servicer or the Special Servicer, as applicable, may take any “major decision” or “major action”
set forth in the related Intercreditor Agreement or any action set forth in the Asset Status Report before the expiration of the
aforementioned ten (10) Business Day period if the Master Servicer or the Special Servicer, as applicable, determines that immediate
action with respect thereto is necessary to protect the interests of the Certificateholder and the related Companion Loan Noteholder.
Unless specified otherwise in the related Intercreditor Agreement, neither the Master Servicer or the Special Servicer shall be
obligated at any time to follow or take any alternative actions recommended by the Non-Directing Holder; and

 

(b)          in
addition to the foregoing non-binding consultation rights, if provided for in the related Intercreditor Agreement, the Non-Directing
Holder shall have the right to annual conference calls with the Master Servicer or the Special Servicer at the offices of the Master
Servicer or the Special Servicer, as applicable, 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 related Loan Combination are discussed.

 

Article VII

SERVICER AND OPERATING ADVISOR TERMINATION

 

Section 7.01     Servicer
Termination Events. (a) “Master Servicer Termination Event,” wherever used herein, means any one of the
following events:

 

(i)          any
failure by the Master Servicer (A) to make any deposit required to the Collection Account or the Serviced Loan Combination
Collection Account for any Serviced Loan Combination on the day and by the time such deposit was first required to be made under
the terms of this Agreement, which failure is not remedied within two Business Days, (B) to deposit into, or remit to the
Certificate Administrator for deposit into, any Distribution Account any amount required to be so deposited or remitted (including,
without limitation, any required P&I Advance, unless the Master Servicer determines such P&I Advance is a Nonrecoverable
Advance), which failure is not remedied by 11:00 a.m. (New York City time) on the relevant Distribution Date (provided,
that to the extent the Master Servicer does not timely make such remittance to the Certificate Administrator, the Master Servicer
shall pay the Certificate Administrator for the account of the Certificate Administrator interest on any amount not timely remitted
at the Prime Rate from and including the applicable required remittance date to, but not including, the date such remittance is
actually made), or (C) to remit to any holder of a Serviced Companion Loan, as and when required by this Agreement or any
related Intercreditor Agreement, any amount required to be so remitted (which failure continues for two Business Days);

 

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(ii)        any
failure on the part of the Master Servicer duly to observe or perform in any material respect any of its other covenants or obligations
contained in this Agreement, which failure continues unremedied for a period of 30 days (15 days in the case of the Master
Servicer’s failure to make a Property Advance or 45 days in the case of failure to pay the premium for any insurance policy
required to be force placed by the Master Servicer pursuant to this Agreement or in any event such reasonable shorter period of
time as is necessary to avoid the commencement of foreclosure proceedings for any lien relating to unpaid real estate taxes or
assessments or a lapse in any required insurance coverage) after the date on which written notice of such failure, requiring the
same to be remedied, shall have been given to the Master Servicer, by (a) any other party hereto, with a copy to each other
party to this Agreement, (b) the Holders of Certificates of any Class evidencing Percentage Interests aggregating not less
than 25% of such Class or (c) an affected Serviced Companion Loan Noteholder; provided, if such failure is capable
of being cured and the Master Servicer is diligently pursuing such cure, such 15-, 30- or 45-day period, as applicable, will be
extended an additional 30 days;

 

(iii)       any
breach on the part of the Master Servicer of any representation or warranty contained in Section 2.04(a) of this Agreement,
which materially and adversely affects the interests of any Class of Certificateholders or Serviced Companion Loan Noteholders
and which continues unremedied for a period of 30 days after the date on which notice of such breach, requiring the same to
be remedied, shall have been given (a) to the Master Servicer by any party hereto or (b) to the Master Servicer, the
Special Servicer, the Depositor and the Trustee (x) by the Holders of Certificates of any Class evidencing Percentage Interests
aggregating not less than 25% of such Class or (y) by an affected Serviced Companion Loan Noteholder; provided, if
such breach is capable of being cured and the Master Servicer is diligently pursuing such cure, such 30-day period will be extended
an additional 30 days;

 

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

 

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

 

(vi)        the
Master Servicer shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage
of any applicable bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of

 

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its creditors, voluntarily
suspend payment of its obligations or take any corporate action in furtherance of the foregoing;

 

(vii)       (a) any
of Moody’s or KBRA has (A) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates,
or (B) placed one or more Classes of Certificates on “watch status” in contemplation of possible rating downgrade or
withdrawal (and such qualification, downgrade or withdrawal or “watch status” placement shall not have been withdrawn
by Moody’s or KBRA, as applicable, within sixty (60) days of such event), and, in case of either of clause (A) or (B), publicly
citing servicing concerns with the Master Servicer as the sole or a material factor in such rating action; (b) the Master Servicer
ceases to have a master servicer rating of at least “CMS3” from Fitch and such rating is not reinstated within sixty
(60) days of delisting; or (c) either (A) the Master Servicer has failed to maintain a ranking by Morningstar equal to or higher
than “MOR CS3” as a master servicer and such ranking is not reinstated within 60 days of such event (if the Master
Servicer has or had a Morningstar ranking on or after the Closing Date) or (B) if the Master Servicer has not been ranked by Morningstar
on or after the Closing Date, and Morningstar has (1) qualified, downgraded or withdrawn its rating or ratings of one or more Classes
of Certificates (if Mornigstar has been engaged by the applicable depositor to rate such securities) or (2) within the prior 12
months, placed one or more Classes of Certificates or (if Morningstar has been engaged by the applicable depositor to rate such
securities) on “watch status” in contemplation of rating downgrade or withdrawal and, in the case of either of clauses
(1) or (2), has publicly cited servicing concerns with the Master Servicer as the sole or material factor in such rating action
(and such qualification, downgrade, withdrawal or “watch status” placement has not been withdrawn by Morningstar within
sixty (60) days of such event); or

 

(viii)      subject
to Section 10.16(c), any failure by the Master Servicer to deliver (a) any Exchange Act reporting items required to be
delivered by the Master Servicer to the Trustee or the Certificate Administrator under Article X (other than items to be delivered
by a Mortgage Loan Seller Sub-Servicer) by the time required under Article X after any applicable grace periods or (b) any
Exchange Act reporting items that a primary servicer, sub-servicer or Servicing Function Participant (such entity, the “Sub-Servicing
Entity”) retained by the Master Servicer (but excluding any Mortgage Loan Seller Sub-Servicer) is required to deliver
(any Sub-Servicing Entity shall be terminated if it defaults in accordance with the provision of this clause (viii));

 

then, and in each and every such case,
so long as a Master Servicer Termination Event shall not have been remedied, the Trustee may, and at the written direction of (x) the
Holders of at least 25% of the aggregate Voting Rights of all Certificates or (y) the Depositor with respect to clause (viii)
above upon five (5) Business Days’ notice, shall, terminate all of the rights and obligations of the Master Servicer (other
than as set forth in Section 7.01(d)). In the case of clause (vii), the Certificate Administrator shall be required to
notify Certificateholders and Serviced Companion Loan Noteholders of such Master Servicer Termination Event and request whether
such Certificateholders and, if applicable, Serviced Companion Loan Noteholders favor such termination.

 

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If the Master Servicer
is also the Special Servicer and the Master Servicer is terminated as provided in this Section 7.01, then the Master Servicer
shall also be terminated as Special Servicer.

 

If the Master Servicer
receives notice of termination under this Section 7.01(a) solely due to a Master Servicer Termination Event under Section 7.01(a)(vii)
and if the Master Servicer provides the Trustee with the appropriate “request for proposal” materials within five (5)
Business Days following such termination notice, then the Master Servicer shall continue to serve as Master Servicer hereunder
until a successor Master Servicer is selected in accordance with this Section 7.01(a). Upon receipt of the “request
for proposal” materials, the Trustee shall promptly thereafter (using such “request for proposal” materials provided
by the Master Servicer) solicit good faith bids for the rights to service the Mortgage Loans and Serviced Companion Loans under
this Agreement from at least three (3) Persons qualified to act as Master Servicer hereunder in accordance with Section 6.02
and 7.02 of this Agreement (any such Person so qualified, a “Qualified Bidder”) or, if three (3) Qualified Bidders
cannot be located, then from as many persons as the Trustee can determine are Qualified Bidders; provided that, at the Trustee’s
request, the Master Servicer shall supply the Trustee with the names of Persons from whom to solicit such bids; and provided,
further, that the Trustee shall not be responsible if less than three (3) or no Qualified Bidders submit bids for the right
to service the Mortgage Loans and Serviced Companion Loans under this Agreement. The bid proposal shall require any Successful
Bidder (as defined below), as a condition of such bid, to enter into this Agreement as successor Master Servicer, and to agree
to be bound by the terms hereof, within 45 days after the notice of termination of the Master Servicer. The materials provided
to the Trustee shall provide for soliciting bids: (i) on the basis of such successor Master Servicer retaining all Sub-Servicers
to continue the primary servicing of the Mortgage Loans and Serviced Companion Loans pursuant to the terms of the respective Sub-Servicing
Agreements and entering into a Sub-Servicing Agreement with the terminated Master Servicer to service each of the Mortgage Loans
and Serviced Companion Loans for which it was the Master Servicer and not subject to a Sub-Servicing Agreement at a sub-servicing
fee rate per annum equal to, for each Mortgage Loan and Serviced Companion Loan serviced, the excess of the related Servicing Fee
Rate minus the related Excess Servicing Fee Rate (each, a “Servicing Retained Bid”); and (ii) on the basis
of terminating each Sub-Servicing Agreement and Sub-Servicer that it is permitted to terminate in accordance with Section 3.01(c)
of this Agreement (each, a “Servicing Released Bid”). The Trustee shall select the Qualified Bidder with the
highest cash Servicing Retained Bid (or, if none, the highest cash Servicing Released Bid from any Person qualified to act as a
Master Servicer) (the “Successful Bidder”) to act as successor Master Servicer hereunder; provided, that
if the Trustee does not receive a No Downgrade Confirmation in accordance with the procedures set forth in Section 3.30 of
this Agreement with respect to such Successful Bidder, then the Trustee shall repeat the bid process described above (but subject
to the above described 45 day time period) until such No Downgrade Confirmation is obtained. The Trustee shall direct the Successful
Bidder to enter into this Agreement as successor Master Servicer pursuant to the terms hereof no later than 45 days after notice
of the termination of the Master Servicer; provided, that the initial Master Servicer may request and obtain, with the prior
written consent of the Directing Holder, an additional 20 days for such sale and assumption to be completed so long as the
initial Master Servicer delivers to the Trustee an Officer’s Certificate stating that the sale and assumption of

 

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the right
to service the Mortgage Loans and Serviced Companion Loans cannot be completed in the initial 45-day period and specifying the
reasons therefor.

 

Upon the assignment and
acceptance of master servicing rights hereunder (subject to the terms of Section 3.12 of this Agreement) to and by the Successful
Bidder, the Trustee shall remit or cause to be remitted (i) if the successful bid was a Servicing Retained Bid, to the Master
Servicer to be terminated pursuant to this Section 7.01(a), the amount of such cash bid received from the Successful Bidder
(net of “out of pocket” expenses incurred in connection with obtaining such bid and transferring servicing) and (ii) if
the successful bid was a Servicing Released Bid, to the Master Servicer and each terminated Sub-Servicer its respective Bid Allocation.

 

The Master Servicer to
be terminated pursuant to this Section 7.01(a) shall be responsible for all out of pocket expenses incurred in connection
with the attempt to sell its rights to service the Mortgage Loans and Serviced Companion Loans, which expenses are not reimbursed
to the party that incurred such expenses pursuant to the preceding paragraph.

 

If the Successful Bidder
has not entered into this Agreement as successor Master Servicer within the above described time period or no Successful Bidder
was identified within the above described time period, the Master Servicer to be terminated pursuant to Section 7.01(a) of
this Agreement shall reimburse the Trustee for all reasonable “out of pocket” expenses incurred by the Trustee in connection
with such bid process and the Trustee shall have no further obligations under this Section 7.01(a). The Trustee thereafter
may act or may select a successor to act as Master Servicer hereunder in accordance with Section 7.02 of this Agreement.

 

Notwithstanding anything
to the contrary in this Article VII, if the Master Servicer shall timely deliver the notice and request for proposal materials
referred to in the fourth preceding paragraph, no resignation or termination of the Master Servicer shall be effective in connection
with a Master Servicer Termination Event under Section 7.01(a)(vii) of this Agreement, and the Master Servicer shall
continue to perform as such and to collect the servicing fee until the conclusion of the process described in this Section 7.01(a).

 

(b)          “Special
Servicer Termination Event,” wherever used herein, means any one of the following events:

 

(i)           any
failure by the Special Servicer to deposit into the REO Account at or within the time specified by this Agreement and such failure
continues unremedied for two Business Days, or any failure by the Special Servicer to remit to Master Servicer for deposit into,
the Collection Account (or, in the case of a Serviced Loan Combination, the related Serviced Loan Combination Collection Account)
any amount required to be so remitted by the Special Servicer pursuant to, and at the time specified by, the terms of this Agreement;
provided, that the failure of the Special Servicer to remit such amount to the Master Servicer shall not be a Special Servicer
Termination Event if such failure is remedied within two Business Days and if the Special Servicer has compensated the Master Servicer
for any loss of income on such amount suffered by the Master Servicer due to and caused by the late remittance of the Special Servicer

 

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and reimburse the Trust for any resulting Advance Interest Amount due to the Master Servicer;

 

(ii)          any
failure on the part of the Special Servicer duly to observe or perform in any material respect any of its other covenants or obligations
contained in this Agreement, which failure continues unremedied for a period of 30 days (45 days in the case of failure to
pay the premium for any insurance policy required to be force placed by the Special Servicer pursuant to this Agreement or in any
event such reasonable shorter period of time as is necessary to avoid the commencement of foreclosure proceedings for any lien
relating to unpaid real estate taxes or assessments or a lapse in any required insurance coverage) after the date on which written
notice of such failure, requiring the same to be remedied, shall have been given to the Special Servicer, by (a) any other
party hereto, with a copy to each other party to this Agreement, (b) the Holders of Certificates of any Class evidencing Percentage
Interests aggregating not less than 25% of such Class or (c) an affected Serviced Companion Loan Noteholder; provided,
if such failure is capable of being cured and the Special Servicer is diligently pursuing such cure, such 30- or 45-day period,
as applicable, will be extended an additional 30 days;

 

(iii)         any
breach on the part of the Special Servicer of any representation or warranty contained in Section 2.04(b) of this Agreement,
which materially and adversely affects the interests of any Class of Certificateholders or Serviced Companion Loan Noteholders
and which continues unremedied for a period of 30 days after the date on which notice of such breach, requiring the same to
be remedied, shall have been given (a) to the Special Servicer by any party hereto, or (b) to the Master Servicer, the
Special Servicer, the Depositor and the Trustee (x) by the Holders of Certificates of any Class evidencing Percentage Interests
aggregating not less than 25% of such Class or (y) by an affected Serviced Companion Loan Noteholder; provided, if
such breach is capable of being cured and the Special Servicer is diligently pursuing such cure, such 30-day period will be extended
an additional 30 days;

 

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

 

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

 

(vi)         the
Special Servicer shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage
of any applicable

 

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bankruptcy, insolvency or reorganization statute, make an assignment for the benefit of its creditors, voluntarily
suspend payment of its obligations or take any corporate action in furtherance of the foregoing;

 

(vii)        (a) any
of Moody’s or KBRA has (A) qualified, downgraded or withdrawn its rating or ratings of one or more Classes of Certificates,
or (B) placed one or more Classes of Certificates on “watch status” in contemplation of possible rating downgrade or
withdrawal (and such qualification, downgrade or withdrawal or “watch status” placement shall not have been withdrawn
by Moody’s or KBRA, as applicable, within sixty (60) days of such event), and, in case of either of clause (A) or (B), publicly
citing servicing concerns with the Special Servicer as the sole or a material factor in such rating action; (b) the Special Servicer
ceases to have a special servicer rating of at least “CSS3” from Fitch and such rating is not reinstated within sixty
(60) days; or (c) either (A) the Special Servicer has failed to maintain a ranking by Morningstar equal to or higher than “MOR
CS3” as a special servicer and such ranking is not reinstated within 60 days of such event (if the Special Servicer has or
had a Morningstar ranking on or after the Closing Date) or (B) if the Special Servicer has not been ranked by Morningstar on or
after the Closing Date, and Morningstar has (1) qualified, downgraded or withdrawn its rating or ratings of one or more Classes
of Certificates (if Mornigstar has been engaged by the applicable depositor to rate such securities) or (2) within the prior 12
months, placed one or more Classes of Certificates (if Morningstar has been engaged by the applicable depositor to rate such securities)
on “watch status” in contemplation of rating downgrade or withdrawal and, in the case of either of clauses (1) or (2),
has publicly cited servicing concerns with the Special Servicer as the sole or material factor in such rating action (and such
qualification, downgrade, withdrawal or “watch status” placement has not been withdrawn by Morningstar within sixty
(60) days of such event); or

 

(viii)       subject
to Section 10.16(c), any failure by the Special Servicer to deliver (a) any Exchange Act reporting items required to
be delivered by the Special Servicer to the Trustee or the Certificate Administrator under Article X by the time required
under Article X after any applicable grace periods or (b) any Exchange Act reporting items that a primary servicer, sub-servicer
or Servicing Function Participant (such entity, the “Sub-Servicing Entity”) retained by the Special Servicer
(but excluding any Mortgage Loan Seller Sub-Servicer) is required to deliver (any Sub-Servicing Entity shall be terminated if it
defaults in accordance with the provision of this clause (viii).

 

then, and in each and every such case,
so long as a Special Servicer Termination Event shall not have been remedied, the Trustee may, and at the written direction of
(x) the Holders of at least 25% of the aggregate Voting Rights of all Certificates, (y) for so long as no Control Termination
Event has occurred and is continuing, the Directing Holder or (z) the Depositor with respect to clause (viii) above upon five
(5) Business Days’ notice, shall, terminate all of the rights and obligations of the Special Servicer (other than the rights
to indemnification provided in Section 6.03(a) of this Agreement and compensation provided in Section 3.12(c) of this
Agreement). In the case of clause (vii) above, the Trustee shall, upon actual knowledge by a Responsible Officer of such Special
Servicer Termination Event, be required to notify the Special Servicer and the Certificate Administrator, and the Certificate Administrator,
upon

 

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receipt of such notice or upon actual knowledge by a Responsible Officer of such Special Servicer Termination Event, shall
notify the Certificateholders and Serviced Companion Loan Noteholders of such Special Servicer Termination Event and request whether
such Certificateholders and, if applicable, the Serviced Companion Loan Noteholders favor such termination.

 

(c)          Notwithstanding
Section 7.01(a), (i) if any Master Servicer Termination Event occurs that affects a Serviced Companion Loan or the holder
thereof and the Master Servicer is not otherwise terminated or (ii) if an NRSRO engaged to rate a Companion Loan Security
qualifies, downgrades or withdraws its rating of such Companion Loan Security, citing servicing concerns with the Master Servicer
as the sole or a material factor in such rating action, then the Trustee, at the direction of the related Serviced Companion Loan
Noteholder, shall direct the Master Servicer to appoint a sub-servicer (or if a sub-servicer is then sub-servicing such Serviced
Loan Combination, to appoint a new sub-servicer to service such Serviced Loan Combination, but only if such existing sub-servicer
is in default after any applicable cure periods under the related sub-servicing agreement) with respect all of the rights and obligations
of the Master Servicer under this Agreement related to such Serviced Loan Combination. The Master Servicer shall appoint a replacement
sub-servicer with respect to such Serviced Loan Combination; provided, that such sub-servicer meets the eligibility requirements
of a successor master servicer under Section 7.02 (including receipt of a No Downgrade Confirmation relating to the Certificates
and Serviced Companion Loan Securities, if any) and the eligibility requirements of each Other Pooling and Servicing Agreement.

 

(d)          Notwithstanding
Section 7.01(b), (i) if any Special Servicer Termination Event occurs that affects a Serviced Companion Loan or the holder
thereof and the Special Servicer is not otherwise terminated or (ii) if an NRSRO engaged to rate a Companion Loan Security
qualifies, downgrades or withdraws its rating of such Companion Loan Security, citing servicing concerns with the Special Servicer
as the sole or a material factor in such rating action, then the Trustee, at the direction of the related Serviced Companion Loan
Noteholder, shall terminate the Special Servicer with respect to the related Serviced Loan Combination only, but no other Mortgage
Loan.

 

(e)          If
the Master Servicer or the Special Servicer is terminated pursuant to this Section 7.01, the Trustee (the “Terminating
Party”) shall, by notice in writing to the Master Servicer or the Special Servicer, as the case may be (the “Terminated
Party”), terminate all of its rights and obligations under this Agreement and in and to the Mortgage Loans and the proceeds
thereof, other than any rights the Terminated Party has to Excess Servicing Fees, any rights it has hereunder as a Certificateholder
and any rights or obligations that accrued prior to the date of such termination (including the right to receive all amounts accrued
or owing to it under this Agreement, plus interest at the Advance Rate on such amounts until received to the extent such amounts
bear interest as provided in this Agreement, with respect to periods prior to the date of such termination and the right to the
benefits of Section 6.03 of this Agreement notwithstanding any such termination), and with respect to the Special Servicer,
the right to receive any Workout Fee subsequent to its termination as Special Servicer, pursuant to Section 3.12(c) of this
Agreement. No successor Special Servicer shall be entitled to such Workout Fee received by the terminated Special Servicer. On
or after the receipt by the Terminated Party of such written notice, all of its authority and power under this

 

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Agreement, whether
with respect to the Certificates (except that the Terminated Party shall retain its rights as a Certificateholder if and to the
extent that it is a Certificateholder), the Mortgage Loans, the Serviced Companion Loans or otherwise, shall pass to and be vested
in the Terminating Party pursuant to and under this Section and, without limitation, the Terminating Party is hereby authorized
and empowered to execute and deliver, on behalf of and at the expense of the Terminated Party, as attorney-in-fact or otherwise,
any and all documents and other instruments, and to do or accomplish all other acts or things necessary or appropriate to effect
the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans
and related documents, or otherwise. The Master Servicer and the Special Servicer each agree in the event it is terminated pursuant
to this Section 7.01 to promptly (and in any event no later than ten Business Days subsequent to such notice) provide, at
its own expense, the Terminating Party with all documents and records requested by the Terminating Party to enable the Terminating
Party to assume its functions hereunder, and to cooperate with the Terminating Party and the successor to its responsibilities
hereunder in effecting the termination of its responsibilities and rights hereunder, including, without limitation, the transfer
to the successor Master Servicer or Special Servicer or the Terminating Party, as applicable, for administration by it of all cash
amounts which shall at the time be or should have been credited by the Master Servicer or the Special Servicer to the Collection
Account, the applicable Serviced Loan Combination Collection Account, any REO Account, the Loss of Value Reserve Fund, any Excess
Liquidation Proceeds Account, Lock-Box Account or Cash Collateral Account or which shall thereafter be received with respect to
the Mortgage Loans, and shall promptly provide the Terminating Party or such successor Master Servicer or successor Special Servicer
(which may include the Trustee) all documents and records reasonably requested by it, such documents and records to be provided
in such form as the Terminating Party or such successor Master Servicer or Special Servicer shall reasonably request (including
electronic form), to enable it to assume the Master Servicer’s or Special Servicer’s function hereunder. All reasonable
costs and expenses of the Terminating Party (including the cost of obtaining a No Downgrade Confirmation and any applicable indemnity)
or the successor Master Servicer or successor Special Servicer incurred in connection with transferring the Mortgage Files to the
successor Master Servicer or Special Servicer and amending this Agreement to reflect such succession as successor Master Servicer
or successor Special Servicer pursuant to this Section 7.01 shall be paid by the predecessor Master Servicer or the Special
Servicer, as applicable, upon presentation of reasonable documentation of such costs and expenses. If the predecessor Master Servicer
or Special Servicer (as the case may be) has not reimbursed the Terminating Party or the successor Master Servicer or Special Servicer
for such expenses within 90 days after the presentation of reasonable documentation, such expense shall be reimbursed by the
Trust Fund; provided that the Terminated Party shall not thereby be relieved of its liability for such expenses. If and
to the extent that the Terminated Party has not reimbursed such costs and expenses, the Terminating Party shall have an affirmative
obligation to take all reasonable actions to collect such expenses on behalf of the Trust Fund.

 

In no event shall the
Trustee or the Certificate Administrator be deemed to have knowledge of, or be aware of, any Master Servicer Termination Event
or Special Servicer Termination Event until a Responsible Officer of the Trustee or the Certificate Administrator, as the case
may be, has received written notice thereof or has actual knowledge thereof.

 

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Section 7.02     Trustee
to Act; Appointment of Successor. Upon the receipt of a notice of termination by the Master Servicer or the Special
Servicer pursuant to Section 7.01 of this Agreement, the Terminating Party (subject to Section 7.01(a) and Section 7.01(c))
shall be its successor, until a successor is appointed by the Directing Holder as provided in this Section 7.02 or Section 3.22(b),
as applicable, in all respects in its capacity as the Master Servicer or the Special Servicer under this Agreement and the transactions
set forth or provided for herein and, except as provided herein, shall be subject to all the responsibilities, duties, limitations
on liability and liabilities relating thereto and arising thereafter placed on the Master Servicer or Special Servicer by the
terms and provisions hereof, provided, that (i) the Terminating Party shall have no responsibilities, duties, liabilities
or obligations with respect to any act or omission of the Master Servicer or Special Servicer and (ii) any failure to perform,
or delay in performing, such duties or responsibilities caused by the Terminated Party’s failure to provide, or delay in
providing, records, tapes, disks, information or monies shall not be considered a termination event for such successor hereunder.
The Trustee, as successor Master Servicer or successor Special Servicer, shall be indemnified to the full extent provided to the
Master Servicer or Special Servicer, as applicable, under this Agreement prior to the Master Servicer’s or the Special Servicer’s
termination. The appointment of a successor Master Servicer or successor Special Servicer shall not affect any liability of the
predecessor Master Servicer or Special Servicer which may have arisen prior to its termination as the Master Servicer or the Special
Servicer. The Terminating Party shall not be liable for any of the representations and warranties of the Master Servicer or Special
Servicer herein or in any related document or agreement, for any acts or omissions of the predecessor Master Servicer or predecessor
Special Servicer or for any losses incurred in respect of any Permitted Investment by the Master Servicer pursuant to Section 3.07
hereunder nor shall the Trustee be required to purchase any Mortgage Loan or any Serviced Companion Loan hereunder. As compensation
therefor, the Terminating Party as successor Master Servicer or successor Special Servicer shall be entitled to the Servicing
Compensation or Special Servicing Compensation, as applicable, and all funds relating to the Mortgage Loans or the Serviced Companion
Loans that accrue after the date of the Terminating Party’s succession to which such predecessor Master Servicer or Special
Servicer would have been entitled if such predecessor Master Servicer or Special Servicer, as applicable, had continued to act
hereunder. If any Advances made by the Master Servicer or the Trustee shall at any time be outstanding, or any amounts of interest
thereon shall be accrued and unpaid, all amounts available to repay Advances and interest hereunder shall be applied entirely
to the Advances made by the Trustee (and the accrued and unpaid interest thereon), until such Advances and interest shall have
been repaid in full. Notwithstanding the above, the Trustee may, if it shall be unwilling to so act, or shall if it is unable
to so act or if the Holders of Certificates entitled to (i) in the case of the Master Servicer, at least 25% of the
aggregate Voting Rights (or, for so long as no Control Termination Event has occurred and is continuing, the Controlling Class
Representative), or (ii) in the case of the Special Servicer, at least 25% of the aggregate Voting Rights (or, for so long
as no Control Termination Event has occurred and is continuing, the Directing Holder), so request in writing to the Trustee, or,
with respect to a Serviced Loan Combination, if an affected Serviced Companion Loan Noteholder so requests in writing to the Trustee,
or if the Trustee is not an “approved” servicer by any of the Rating Agencies for mortgage pools similar to the Trust
Fund, promptly appoint, or petition a court of competent jurisdiction to appoint, any established mortgage loan servicing institution
that, for so long as no Control Termination

 

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Event has occurred and is continuing, has been approved by the Directing Holder (which
approval shall not be unreasonably withheld) to act as the successor to the Master Servicer or Special Servicer, as applicable,
hereunder in the assumption of all or any part of the responsibilities, duties or liabilities of the Master Servicer or Special
Servicer hereunder; provided that the Trustee shall obtain a No Downgrade Confirmation with respect to the Certificates
and any Serviced Companion Loan Securities. No appointment of a successor to the Master Servicer or Special Servicer hereunder
shall be effective until the assumption by such successor of all the Master Servicer’s or Special Servicer’s responsibilities,
duties and liabilities hereunder, which appointment has been approved, if no Control Termination Event has occurred and is continuing,
by the Directing Holder, such approval not to be unreasonably withheld. Pending appointment of a successor to the Master Servicer
(or the Special Servicer if the Special Servicer is also the Master Servicer) hereunder, unless the Trustee shall be prohibited
by law from so acting, the Trustee shall act in such capacity as hereinabove provided. Pending the appointment of a successor
to the Special Servicer, the Trustee shall act in such capacity. In connection with such appointment and assumption described
herein, the Trustee may make such arrangements for the compensation of such successor out of payments on Mortgage Loans, Serviced
Companion Loans or otherwise as it and such successor shall agree; provided, that no such compensation shall be in excess
of that permitted to the Terminated Party hereunder, unless no successor to the Terminated Party can be obtained to perform the
obligations of such Terminated Party hereunder, in which case additional amounts shall be paid to such successor and such amounts
in excess of that permitted the Terminated Party shall be treated as Realized Losses. Any successor Special Servicer shall be
subject to the rights of the Directing Holder under Section 3.22(b) of this Agreement. The Depositor, the Trustee, the Master
Servicer or Special Servicer and such successor shall take such action, consistent with this Agreement, as shall be necessary
to effectuate any such succession.

 

If
the Trustee or an Affiliate acts pursuant to this Section 7.02 as successor to the resigning or terminated Master Servicer,
it may reduce the Master Servicer’s Excess Servicing Fee Rate to the extent that its or such Affiliate’s compensation
as successor Master Servicer would otherwise be below the market rate servicing compensation. If the Trustee elects to appoint
a successor to the resigning or terminated Master Servicer other than itself or an Affiliate pursuant to this Section 7.02,
it may reduce the Master Servicer’s Excess Servicing Fee Rate to the extent reasonably necessary (in the sole discretion
of the Trustee) for the Trustee to appoint a qualified successor Master Servicer that meets the requirements of this Section 7.02.

 

Section 7.03     Notification
to Certificateholders and Other Persons. (a) Upon its receipt of written notice of any termination pursuant to
Section 7.01 above or appointment of a successor to the Master Servicer or the Special Servicer, the Certificate
Administrator shall give prompt written notice thereof to Certificateholders at their respective addresses appearing in the
Certificate Register, the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information
Provider’s Website pursuant to Section 3.14(d) of this Agreement), the Operating Advisor, and to each Serviced
Companion Loan Noteholder at its address appearing in the Serviced Companion Loan Noteholder Register.

 

(b)     Within
30 days after the occurrence of any Servicer Termination Event or Operating Advisor Termination Event of which a Responsible
Officer of the Trustee has

 

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actual knowledge, the Trustee shall transmit by mail to the Depositor, the Certificate Administrator
(who shall then notify all Holders of Certificates), the 17g-5 Information Provider (who shall promptly post such notice to the
17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement), and each Serviced Companion Loan
Noteholder, notice of such Servicer Termination Event or Operating Advisor Termination Event, unless such Servicer Termination
Event or Operating Advisor Termination Event shall have been cured or waived.

 

Section 7.04     Other
Remedies of Trustee. During the continuance of any Servicer Termination Event, so long as the Servicer Termination
Event shall not have been remedied, the Trustee, in addition to the rights specified in Section 7.01 of this Agreement,
shall have the right, in its own name as Trustee of an express trust, to take all actions now or hereafter existing at law,
in equity or by statute to enforce its rights and remedies and to protect the interests, and enforce the rights and remedies,
of the Certificateholders and, in the case of any Serviced Companion Loan, of the related Serviced Companion Loan Noteholders
(including the institution and prosecution of all judicial, administrative and other proceedings and the filing of proofs of
claim and debt in connection therewith). In such event, the legal fees, expenses and costs of such action and any liability
resulting therefrom shall be expenses, costs and liabilities of the Trust Fund (and, in the case of any Serviced Loan
Combination, such amounts shall be allocated in accordance with the expense allocation provision of the related Intercreditor
Agreement). Except as otherwise expressly provided in this Agreement, no remedy provided for by this Agreement shall be
exclusive of any other remedy, and each and every remedy shall be cumulative and in addition to any other remedy, and no
delay or omission to exercise any right or remedy shall impair any such right or remedy or shall be deemed to be a waiver of
any Servicer Termination Event.

 

Section 7.05     Waiver
of Past Servicer Termination Events and Operating Advisor Termination Events; Termination. The Holders of
Certificates evidencing not less than 66-2/3% of the aggregate Voting Rights of the Certificates may, together with each
affected Serviced Companion Loan Noteholder (to the extent they are adversely affected by such Servicer Termination Event or
Operating Advisor Termination Event, as applicable), on behalf of all Holders of Certificates waive any termination event
with respect to the Master Servicer, the Special Servicer or the Operating Advisor in the performance of its obligations
hereunder and its consequences, except a termination event with respect to making any required deposits (including, with
respect to the Master Servicer, P&I Advances) to or payments from the Collection Account, any Serviced Loan Combination
Collection Account or the Lower-Tier Distribution Account, or in remitting payments as received, in each case in accordance
with this Agreement. Upon any such waiver of a past termination event, such termination event shall cease to exist, and any
Servicer Termination Event or Operating Advisor Termination Event arising therefrom shall be deemed to have been remedied for
every purpose of this Agreement. No such waiver shall extend to any subsequent or other termination event or impair any right
consequent thereon. Notwithstanding the foregoing, a Master Servicer Termination Event under Section 7.01(a)(vii) or a
Special Servicer Termination Event under Section 7.01(b)(viii) of this Agreement may be waived only with the consent of
the Depositor.

 

Section 7.06     Trustee
as Maker of Advances. If the Master Servicer fails to fulfill its obligations hereunder to make any Advances and
such failure remains uncured, the

 

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Trustee
shall perform such obligations (x) within five Business Days of the Master Servicer Termination Event resulting from such
failure by the Master Servicer with respect to Property Advances to the extent a Responsible Officer of the Trustee has actual
knowledge of such failure with respect to such Property Advances and (y) by 12:00 noon (New York City time) on the related
Distribution Date with respect to P&I Advances pursuant to the Trustee’s receipt of notice of failure pursuant to Section 4.07(a)
of this Agreement unless the Trustee has received notice that such failure has been cured by 11:00 a.m. on such Distribution
Date. With respect to any such Advance made by the Trustee, the Trustee shall succeed to all of the Master Servicer’s rights
with respect to Advances hereunder, including, without limitation, the Master Servicer’s rights of reimbursement and interest
on each Advance at the Advance Rate, and rights to determine that a proposed Advance is a Nonrecoverable Advance (without regard
to any impairment of any such rights of reimbursement caused by the Master Servicer’s failure to perform its obligations
hereunder); provided, that if Advances made by the Trustee and the Master Servicer shall at any time be outstanding, or
any interest on any Advance shall be accrued and unpaid, all amounts available to repay such Advances and the interest thereon
hereunder shall be applied entirely to the Advances outstanding to the Trustee, until such Advances shall have been repaid in
full, together with all interest accrued thereon, prior to reimbursement of the Master Servicer for such Advances. The Trustee
shall be entitled to conclusively rely on any notice given with respect to a Nonrecoverable Advance or any determination of nonrecoverability
in connection therewith by the Master Servicer hereunder.

 

Section 7.07     Termination
of the Operating Advisor. (a)  An “Operating Advisor Termination Event” means any one of the
following events whether any such event shall be voluntary or involuntary or be effected by operation of law or pursuant to
any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body:

 

(i)         any
failure by the Operating Advisor to observe or perform in any material respect any of its covenants or agreements or the material
breach of its representations or warranties under this Agreement, which failure shall continue unremedied for a period of 30 days
after the date on which written notice of such failure shall have been given to the Operating Advisor by any party hereto or to
the Operating Advisor, the Certificate Administrator and the Trustee by the Holders of Certificates having greater than 25% of
the aggregate Voting Rights; provided, that with respect to any such failure which is not curable within such 30-day period,
the Operating Advisor shall have an additional cure period of thirty (30) days to effect such cure so long as it has commenced
to cure such failure within the initial 30-day period and has provided the Trustee and the Certificate Administrator with an Officer’s
Certificate certifying that it has diligently pursued, and is continuing to pursue, such cure;

 

(ii)        any
failure by the Operating Advisor to perform in accordance with the Operating Advisor Standard which failure shall continue unremedied
for a period of 30 days;

 

(iii)       any
failure by the Operating Advisor to be an Eligible Operating Advisor, which failure shall continue unremedied for a period of
30 days;

 

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(iv)       a
decree or order of a court or agency or supervisory authority having jurisdiction in the premises in an involuntary case under
any present or future federal or state bankruptcy, insolvency or similar law for the appointment of a conservator or receiver
or liquidator in any insolvency, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the
winding-up or liquidation of its affairs, shall have been entered against the Operating Advisor, and such decree or order shall
have remained in force undischarged or unstayed for a period of 60 days;

 

(v)     
  the Operating Advisor shall consent to the appointment of a conservator or receiver or liquidator or liquidation committee in
any insolvency, readjustment of debt, marshaling of assets and liabilities, voluntary liquidation, or similar proceedings of
or relating to the Operating Advisor or of or relating to all or substantially all of its property; or

 

(vi)       the
Operating Advisor shall admit in writing its inability to pay its debts generally as they become due, file a petition to take
advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors, or voluntarily
suspend payment of its obligations.

 

Upon
receipt by the Certificate Administrator of notice of the occurrence of any Operating Advisor Termination Event, the Certificate
Administrator shall promptly provide written notice to all Certificateholders by posting such notice on the Certificate Administrator’s
Website and by mail, unless the Certificate Administrator has received notice that it has been remedied. If an Operating Advisor
Termination Event has occurred then, and in each and every such case, so long as such Operating Advisor Termination Event shall
not have been remedied, either (i) the Trustee may or (ii) upon the written direction of holders of Certificates evidencing
not less than 25% of the Voting Rights of each Class of Regular Certificates, the Trustee shall, terminate all of the rights and
obligations of the Operating Advisor under this Agreement, other than rights and obligations accrued prior to such termination,
including the right to receive all amounts accrued and owing to it under this Agreement, and other than indemnification rights
(arising out of events occurring prior to such termination), by notice in writing to the Operating Advisor. Notwithstanding anything
herein to the contrary, the Depositor shall have the right, but not the obligation, to notify the Certificate Administrator and
the Trustee of any Operating Advisor Termination Event of which the Depositor has actual knowledge.

 

(b)        Upon
(i) the written direction of holders of Certificates evidencing not less than 15% of the aggregate Voting Rights requesting
a vote to terminate and replace the Operating Advisor with a proposed successor Operating Advisor that is an Eligible Operating
Advisor and (ii) payment by such Holders to the Certificate Administrator of the reasonable fees and expenses to be incurred
by the Certificate Administrator in connection with administering such vote, the Certificate Administrator shall promptly provide
written notice thereof to the Operating Advisor and to all Certificateholders by (i) posting such notice on the Certificate
Administrator’s Website and (ii) mail at their addresses appearing in the Certificate Register. Upon the written direction
of Holders of Certificates evidencing more than 50% of the Voting Rights that exercise their right to vote (provided that
Holders of at least 50% of the Voting Rights exercise their right to vote), the Trustee shall terminate all of the rights and

 

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obligations of the Operating Advisor with respect to the Mortgage Loans under this Agreement by notice in writing to the Operating
Advisor, other than rights and obligations accrued prior to such termination including the right to receive all amounts accrued
and owing to it under this Agreement and other than indemnification rights arising out of events occurring prior to such termination.
The provisions set forth in the foregoing sentences of this Section 7.07(b) shall be binding upon and inure to the benefit
of solely the Certificateholders and the Trustee as between each other. The Operating Advisor shall not have any cause of action
based upon or arising from any breach or alleged breach of such provisions other than may arise, as a result of the failure to
comply with the above described voting procedures. As between the Operating Advisor, on the one hand, and the Certificateholders,
on the other, the Certificateholders shall be entitled in their sole discretion to vote for the termination or not vote for the
termination of the Operating Advisor. The Certificate Administrator shall include on each Distribution Date Statement a statement
that each Certificateholder and Beneficial Owner may access notices on the Certificate Administrator’s Website and each
Certificateholder and Beneficial Owner may register to receive email notifications when such notices are posted on the Certificate
Administrator’s Website; provided that the Certificate Administrator shall be entitled to reimbursement from the
requesting Certificateholders for the reasonable expenses of posting such notices.

 

(c)        On
or after the receipt by the Operating Advisor of such written notice of termination, subject to the foregoing, all of its authority
and power under this Agreement shall be terminated and, without limitation, the terminated Operating Advisor shall execute any
and all documents and other instruments, and do or accomplish all other acts or things reasonably necessary or appropriate to
effect the purposes of such notice of termination. As soon as practicable, but in no event later than 15 Business Days after (1)
the Operating Advisor resigns pursuant to Section 6.04(a) of this Agreement or (2) the Certificate Administrator delivers
such written notice of termination to the Operating Advisor, the Trustee shall upon the written direction of Holders of Certificates
evidencing not less than 25% of the Voting Rights of each Class of Regular Certificates of each Class of Certificates appoint
a successor Operating Advisor that is an Eligible Operating Advisor, which successor Operating Advisor may be an Affiliate of
the Trustee and shall be the proposed Operating Advisor in the case of a termination pursuant to Section 7.07(b) of this
Agreement; provided, that if the Trustee is acting as the successor Master Servicer or successor Special Servicer, neither the
Trustee nor any of its Affiliates shall be the successor Operating Advisor. The Trustee shall provide written notice of the appointment
of a successor Operating Advisor to the Master Servicer, the Special Servicer and the Certificate Administrator (and the Certificate
Administrator shall promptly provide such notice to the Controlling Class Representative, each Serviced Companion Loan Noteholder
and each Certificateholder) within one Business Day of such appointment. The Operating Advisor shall be an Eligible Operating
Advisor. If any of such entities becomes the Operating Advisor, including by means of an Affiliation arising after the date hereof,
the Operating Advisor shall immediately resign or cause an assignment under Section 6.04 of this Agreement and the Trustee
shall upon the written direction of Holders of Certificates evidencing not less than 25% of the Voting Rights of each Class of
Certificates appoint a successor Operating Advisor subject to and in accordance with this Section 7.07(c), which successor
Operating Advisor may be an Affiliate of the Trustee.

 

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(d)        Upon
any termination of the Operating Advisor and appointment of a successor to the Operating Advisor, the Trustee shall, as soon as
possible, give written notice thereof to the Special Servicer, the Master Servicer, the Certificate Administrator, the Depositor,
the Certificateholders, any Serviced Companion Loan Noteholder and, if no Consultation Termination Event has occurred and is continuing,
the Controlling Class Representative and the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information
Provider’s Website pursuant to Section 3.14(d) of this Agreement). If the Operating Advisor is terminated, all of its
rights and obligations under this Agreement shall terminate, other than any rights or obligations that accrued prior to the date
of such termination (including the right to receive all amounts accrued and owing to it under this Agreement) and other than indemnification
rights (arising out of events occurring prior to such termination).

 

(e)        If
there are no Classes of Certificates outstanding other than the Control Eligible Certificates, the Class X-D Certificates, the
Class X-E Certificates, the Class X-F Certificates, the Class V Certificates, the Class R Certificates and the Class LR Certificates,
then all of the rights and obligations of the Operating Advisor under this Agreement shall terminate without payment of any termination
fee (other than any rights or obligations that accrued prior to the date of such termination (including accrued and unpaid compensation)
and other than indemnification rights arising out of events occurring prior to such termination). If the Operating Advisor is
terminated pursuant to this Section 7.07(e), then no replacement Operating Advisor shall be appointed. The Trustee
shall provide the Operating Advisor with prompt notice upon its termination pursuant to this Section 7.07(e).

 

Article VIII

CONCERNING THE TRUSTEE AND CERTIFICATE ADMINISTRATOR

 

Section 8.01     Duties
of Trustee and Certificate Administrator. (a)  Each of the Trustee and the Certificate Administrator undertakes
to perform such duties and only such duties as are specifically set forth in this Agreement and no permissive right of the Trustee
shall be construed as a duty. During the continuance of a Servicer Termination Event of which a Responsible Officer of the Trustee
has actual knowledge, the Trustee, subject to the provisions of Section 7.02 and 7.05 of this Agreement shall exercise such
of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise, as a prudent
person would exercise or use under the circumstances in the conduct of such person’s own affairs.

 

(b)        The
Trustee and the Certificate Administrator, upon receipt of any resolutions, certificates, statements, opinions, reports, documents,
orders or other instruments furnished to the Trustee or the Certificate Administrator, as the case may be, which are specifically
required to be furnished pursuant to any provision of this Agreement, shall examine them to determine whether they conform on
their face to the requirements of this Agreement; provided, that, the Trustee or the Certificate Administrator, as applicable,
shall not be responsible for the accuracy or content of any such resolution, certificate, statement, opinion, report, document,
order or other instrument provided to it hereunder. If any such instrument is

 

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found not to conform on its face to the requirements
of this Agreement in a material manner, the Trustee or the Certificate Administrator, as applicable, shall request the provider
of such instrument to have the instrument corrected, and if the instrument is not corrected to such Trustee’s or such Certificate
Administrator’s reasonable satisfaction, such Trustee or such Certificate Administrator will provide notice thereof to the
Certificateholders.

 

(c)        None
of the Trustee, the Certificate Administrator or any of their officers, directors, employees, agents or “control”
persons within the meaning of the Act shall have any liability arising out of or in connection with this Agreement, provided
that, subject to Section 8.02 of this Agreement, no provision of this Agreement shall be construed to relieve the Trustee,
the Certificate Administrator or any such person, from liability for its own negligent action, its own negligent failure to act
or its own willful misconduct or its own bad faith; and provided, further, that:

 

(i)         The
Trustee’s and the Certificate Administrator’s duties and obligations shall be determined solely by the express provisions
of this Agreement, neither the Trustee nor the Certificate Administrator shall be liable except for the performance of such duties
and obligations as are specifically set forth in regard to such party in this Agreement, no implied covenants or obligations shall
be read into this Agreement against the Trustee or the Certificate Administrator and, in the absence of bad faith on the part
of the Trustee or the Certificate Administrator, as the case may be, the Trustee and the Certificate Administrator may conclusively
rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any resolutions, certificates,
statements, reports, opinions, documents, orders or other instruments furnished to the Trustee or the Certificate Administrator,
as the case may be, that conform on their face to the requirements of this Agreement to the extent set forth herein without responsibility
for investigating the contents thereof;

 

(ii)        Reserved;

 

(iii)       Neither
the Trustee nor the Certificate Administrator shall be personally liable with respect to any action taken, suffered or omitted
to be taken by it in good faith in accordance with the direction of Holders of Certificates entitled to greater than 50% of the
Percentage Interests (or such other higher or lower percentage as is specified herein) of each affected Class, or of the aggregate
Voting Rights of the Certificates, relating to the time, method and place of conducting any proceeding for any remedy available
to the Trustee or the Certificate Administrator, as the case may be, or exercising any trust or power conferred upon the Trustee
or the Certificate Administrator, as the case may be, under this Agreement;

 

(iv)       Neither
the Trustee nor the Certificate Administrator nor any of their directors, officers, employees, agents or control persons shall
be responsible for any act or omission of any Custodian, Paying Agent or Certificate Registrar that is not an Affiliate of the
Trustee or the Certificate Administrator, respectively, and that is selected other than by the Trustee or the Certificate Administrator,
respectively, performed or omitted in compliance with any custodial or other agreement, or any act or omission of the Master Servicer,
the Special Servicer, the Depositor, the Operating

 

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Advisor or any other Person, including, without limitation, in connection with
actions taken pursuant to this Agreement;

 

(v)        Neither
the Trustee nor the Certificate Administrator shall be under any obligation to appear in, prosecute or defend any legal action
which is not incidental to its respective duties as Trustee or Certificate Administrator in accordance with this Agreement (and,
if it does, all legal expenses and costs of such action shall be expenses and costs of the Trust Fund (and, in the case of any
Loan Combination, any such costs and expenses shall be allocated in accordance with the allocation provisions of the related Intercreditor
Agreement), and the Trustee or the Certificate Administrator, as applicable, shall be entitled, as provided in Section 3.06
hereof, to be reimbursed therefor from amounts on deposit in the Collection Account (and with respect to any Serviced Loan Combination,
the related Serviced Loan Combination Collection Account) or the Distribution Account and identified on the Trust Ledger, unless
such legal action arises out of the negligence or bad faith of the Trustee or the Certificate Administrator, as applicable, or
any breach of a representation or warranty of the Trustee or the Certificate Administrator, as applicable, contained herein; and

 

(vi)       Neither
the Trustee nor the Certificate Administrator shall be charged with knowledge of any act, failure to act or breach of any Person
upon the occurrence of which the Trustee or the Certificate Administrator, as applicable, may be required to act, unless a Responsible
Officer of the Trustee or the Certificate Administrator, as applicable, obtains actual knowledge of such failure. Neither the
Trustee nor the Certificate Administrator shall be deemed to have actual knowledge of the Master Servicer’s or the Special
Servicer’s failure to provide scheduled reports, certificates and statements when and as required to be delivered to the
Trustee or the Certificate Administrator, as applicable, pursuant to this Agreement.

 

None
of the provisions contained in this Agreement shall require either the Trustee, in its capacity as Trustee or the Certificate
Administrator, in its capacity as Certificate Administrator, to expend or risk its own funds, or otherwise incur financial liability
in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if in the opinion of the
Trustee or the Certificate Administrator, as the case may be, the repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured to it, and none of the provisions contained in this Agreement shall in any event require
the Trustee or the Certificate Administrator, as the case may be, to perform, or be responsible for the manner of performance
of, any of the obligations of the Master Servicer, the Special Servicer or the Operating Advisor under this Agreement, except,
in the case of the Trustee, during such time, if any, as the Trustee shall be the successor to, and be vested with the rights,
duties, powers and privileges of, the Master Servicer or the Special Servicer in accordance with the terms of this Agreement.
Neither the Trustee nor the Certificate Administrator shall be required to post any surety or bond of any kind in connection with
its performance of its obligations under this Agreement and neither the Trustee nor the Certificate Administrator shall be liable
for any loss on any investment of funds pursuant to this Agreement. Notwithstanding any other provision hereof, when acting as
the Master Servicer or Special Servicer hereunder, the Trustee and the Certificate Administrator shall comply with the Servicing
Standard.

 

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Section 8.02     Certain
Matters Affecting the Trustee and the Certificate Administrator. (a) Except as otherwise provided in
Section 8.01 of this Agreement:

 

(i)         The
Trustee and the Certificate Administrator may request and/or conclusively rely upon and shall be protected in acting or refraining
from acting upon any resolution, Officer’s Certificate, certificate of auditors or any other certificate, statement, instrument,
opinion, report, notice, request, consent, order, appraisal, bond or other paper or document reasonably believed by it to be genuine
and to have been signed or presented by the proper party or parties and neither the Trustee nor the Certificate Administrator
shall have any responsibility to ascertain or confirm the genuineness of any such party or parties;

 

(ii)        Each
of the Trustee and the Certificate Administrator may consult with counsel and the written advice of such counsel or 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 the written advice of such counsel or such Opinion of Counsel;

 

(iii)       (A) Neither
the Trustee nor the Certificate Administrator shall be under any obligation to exercise any of the trusts or powers vested in
it by this Agreement or to make any investigation of matters arising hereunder or institute, conduct or defend any litigation
hereunder or in relation hereto at the request, order or direction of any of the Certificateholders, pursuant to the provisions
of this Agreement, unless such Certificateholders shall have offered to the Trustee or the Certificate Administrator, as the case
may be, reasonable security or indemnity reasonably satisfactory to the Trustee or the Certificate Administrator, as the case
may be, against the costs, expenses and liabilities which may be incurred therein or thereby, provided that nothing contained
herein shall relieve the Trustee of the obligations, upon the occurrence of a Servicer Termination Event (which has not been cured
or waived) of which a Responsible Officer of the Trustee has actual knowledge, to exercise such of the rights and powers vested
in it by this Agreement, and, with respect to the Trustee, to use the same degree of care and skill in their exercise, as a prudent
person would exercise or use under the circumstances in the conduct of such person’s own affairs; and (B) the right
of the Trustee and the Certificate Administrator to perform any discretionary act enumerated in this Agreement shall not be construed
as a duty, and the Trustee or the Certificate Administrator, as the case may be, shall not be answerable for other than its own
negligence or willful misconduct or bad faith in the performance of any such act;

 

(iv)       None
of the Trustee, the Certificate Administrator or any of their directors, officers, employees, Affiliates, agents or “control”
persons within the meaning of the Act shall be personally liable (A) for an error of judgment made in good faith by a Responsible
Officer of the Trustee or the Certificate Administrator, as the case may be, unless it shall be proved that the Trustee or the
Certificate Administrator, as the case may be, was negligent in ascertaining the pertinent facts or (B) for any action taken,
suffered or omitted by it in good faith and reasonably believed by the Trustee or

 

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the Certificate Administrator, as the case may
be, to be authorized or within the discretion or rights or powers conferred upon it by this Agreement;

 

(v)        Neither
the Trustee nor the Certificate Administrator shall be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, appraisal, bond or other paper
or document, unless requested in writing to do so by Holders of Certificates entitled to greater than 25% (or such other percentage
as is specified herein) of the Percentage Interests of each affected Class; provided, that if the payment within a reasonable
time to the Trustee or the Certificate Administrator, as the case may be, of the costs, expenses or liabilities likely to be incurred
by it in the making of such investigation is, in the opinion of the Trustee or the Certificate Administrator, as the case may
be, not reasonably assured to the Trustee or the Certificate Administrator, as the case may be, by the security afforded to it
by the terms of this Agreement, the Trustee or the Certificate Administrator, as the case may be, may require indemnity reasonably
satisfactory to it from such requesting Holders against such cost, expense or liability as a condition to taking any such action.
The reasonable expense of every such investigation shall be paid by the Master Servicer, the Special Servicer or the Operating
Advisor, as applicable, if a Servicer Termination Event or Operating Advisor Termination Event shall have occurred and be continuing
relating to the Master Servicer, the Special Servicer or the Operating Advisor, respectively, and otherwise by the Certificateholders
requesting the investigation;

 

(vi)       The
Trustee and the Certificate Administrator may execute any of the trusts or powers hereunder and the Trustee and the Certificate
Administrator may perform any duties hereunder either directly or by or through agents, nominees, custodians or attorneys but
shall not be relieved of the obligations hereunder; provided, that the Trustee or the Certificate Administrator, as the
case may be, may not perform any duties hereunder through any Person that is a Prohibited Party; and

 

(vii)      Other
than in the case of fraud (as determined by a non-appealable final court order), in no event shall the Trustee or the Certificate
Administrator, as applicable, be liable for special, punitive, indirect or consequential loss or damage of any kind whatsoever
(including, but not limited to lost profits), even if the Trustee or the Certificate Administrator, as applicable, has been advised
of the likelihood of such loss or damage and regardless of the form of action.

 

(b)        Following
the Startup Day, the Trustee and the Certificate Administrator shall not, except as expressly required by any provision of this
Agreement, accept any contribution of assets to the Trust Fund unless the Trustee or the Certificate Administrator shall have
received an Opinion of Counsel (the costs of obtaining such opinion to be borne by the Person requesting such contribution) to
the effect that the inclusion of such assets in the Trust Fund will not cause the Lower-Tier REMIC or the Upper-Tier REMIC to
fail to qualify as a REMIC or cause the Grantor Trust to fail to qualify as a grantor trust, at any time that any Certificates
are outstanding, or subject the Lower-Tier REMIC or the Upper-Tier REMIC to any tax under the REMIC Provisions or other applicable
provisions of federal, state and local law or ordinances or cause the Grantor Trust not to be treated as a grantor trust.

 

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(c)         All
rights of action under this Agreement or under any of the Certificates, enforceable by the Trustee and the Certificate Administrator,
may be enforced by it without the possession of any of the Certificates, or the production thereof at the trial or other proceeding
relating thereto, and any such suit, action or proceeding instituted by the Trustee and the Certificate Administrator shall be
brought in its name for the benefit of all the Holders of such Certificates, subject to the provisions of this Agreement.

 

(d)         The
Trustee shall not have a duty to conduct any affirmative investigation as to the occurrence of any condition requiring the repurchase
of any Mortgage Loan by any Mortgage Loan Seller pursuant to this Agreement or the eligibility of any Mortgage Loan for purposes
of this Agreement.

 

(e)        Each
of the Trustee and the Certificate Administrator shall be entitled to all of the same rights, protections, immunities and indemnities
afforded to it as Trustee and Certificate Administrator, as the case may be, in each capacity for which it serves hereunder (including,
without limitation, as Custodian, Certificate Registrar, 17g-5 Information Provider, Paying Agent and Authenticating Agent).

 

(f)         In
order to comply with laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions,
including, without limitation, those relating to the funding of terrorist activities and money laundering, including Section 326
of the USA Patriot Act of the United States (“Applicable Law”), the Certificate Administrator and the Trustee,
as the case may be, are required to obtain, verify and record certain information relating to individuals and entities that maintain
a business relationship with the Certificate Administrator or the Trustee. Accordingly, each of the parties hereto agrees to provide
to the Certificate Administrator and the Trustee, upon its respective request from time to time, such identifying information
and documentation as may be available for such party in order to enable the Certificate Administrator and the Trustee to comply
with Applicable Law.

 

Section 8.03     Trustee
and Certificate Administrator Not Liable for Certificates or Mortgage Loans. The recitals contained herein and in
the Certificates shall not be taken as the statements of the Trustee, the Certificate Administrator, the Operating Advisor,
the Master Servicer, or the Special Servicer and the Trustee, the Certificate Administrator, the Operating Advisor, the
Master Servicer and the Special Servicer assume no responsibility for their correctness. The Trustee, the Certificate
Administrator, the Operating Advisor, the Master Servicer and the Special Servicer make no representations or warranties as
to the validity or sufficiency of this Agreement, of the Certificates or any offering document used to offer the Certificates
for sale or the validity, enforceability or sufficiency of any Mortgage Loan, or related document. Neither the Trustee nor
the Certificate Administrator shall at any time have any responsibility or liability for or with respect to the legality,
validity and enforceability of any Mortgage, any Mortgage Loan, or the perfection and priority of any Mortgage or the
maintenance of any such perfection and priority, or for or with respect to the sufficiency of the Trust Fund or its ability
to generate the payments to be distributed to Certificateholders under this Agreement. Without limiting the foregoing,
neither the Trustee nor the Certificate Administrator shall be liable or responsible for: (i) the existence, condition
and ownership of any Mortgaged Property; (ii) the existence of any hazard or other insurance thereon (other than

 

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if the
Trustee shall assume the duties of the Master Servicer or the Special Servicer pursuant to Section 7.02 of this
Agreement) or the enforceability thereof; (iii) the existence of any Mortgage Loan or the contents of the related
Mortgage File on any computer or other record thereof (other than if the Trustee shall assume the duties of the Master
Servicer or the Special Servicer pursuant to Section 7.02 of this Agreement); (iv) the validity of the
assignment of any Mortgage Loan to the Trust Fund or of any intervening assignment; (v) the completeness of any Mortgage
File; the performance or enforcement of any Mortgage Loan (other than if the Trustee shall assume the duties of the Master
Servicer or the Special Servicer pursuant to Section 7.02 of this Agreement); (vi) the compliance by the Depositor,
the Master Servicer, the Special Servicer or the Operating Advisor with any warranty or representation made under this
Agreement or in any related document or the accuracy of any such warranty or representation prior to the Trustee’s
receipt of written notice or other discovery of any non-compliance therewith or any breach thereof; (vii) any investment
of monies by or at the direction of the Master Servicer or any loss resulting therefrom, the acts or omissions of any of the
Depositor, the Certificate Administrator, the Operating Advisor, the Master Servicer or the Special Servicer (other than if
the Trustee shall assume the duties of the Certificate Administrator, the Master Servicer or Special Servicer pursuant to
Section 7.02 of this Agreement) or any sub-servicer or any Borrower; any action of the Master Servicer or Special
Servicer (other than if the Trustee shall assume the duties of the Master Servicer or Special Servicer pursuant to
Section 7.02 of this Agreement) or any sub-servicer taken in the name of the Trustee, except to the extent such action
is taken at the express written direction of the Trustee; (viii) the failure of the Master Servicer or the Special
Servicer or any sub-servicer to act or perform any duties required of them on behalf of the Trust Fund or the
Trustee hereunder; or (ix) any action by or omission of the Trustee or the Certificate Administrator taken at the
instruction of the Master Servicer or the Special Servicer (other than if the Trustee shall assume the duties of the Master
Servicer or the Special Servicer pursuant to Section 7.02 of this Agreement) unless the taking of such action is not
permitted by the express terms of this Agreement; provided, that the foregoing shall not relieve the Trustee or the
Certificate Administrator of their respective obligations to perform their duties as specifically set forth in this
Agreement. The Trustee or the Certificate Administrator shall not be accountable for the use or application by the Depositor,
the Certificate Administrator (in the case of the Trustee only), the Trustee (in the case of the Certificate Administrator
only), the Master Servicer or the Special Servicer of any of the Certificates or of the proceeds of such Certificates, or for
the use or application of any funds paid to the Depositor, the Certificate Administrator (in the case of the Trustee only),
the Trustee (in the case of the Certificate Administrator only), the Master Servicer or the Special Servicer in respect of
the assignment of the Mortgage Loans or deposited in or withdrawn from the Collection Accounts, any Serviced Loan Combination
Collection Account, the Lower-Tier Distribution Account, the Upper-Tier Distribution Account, the Class V Distribution
Account, the Lock-Box Account, the Cash Collateral Account, the Reserve Accounts, the Interest Reserve Account, any REO
Account or any Excess Liquidation Proceeds Account or any other account maintained by or on behalf of the Certificate
Administrator, the Master Servicer or the Special Servicer, other than any funds held by the Trustee or the Certificate
Administrator. Neither the Trustee nor the Certificate Administrator shall have any responsibility for filing any financing
or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection of any security
interest or lien granted to it hereunder (unless the Trustee shall have become the successor Master Servicer) or to record
this Agreement. In making any calculation hereunder which includes as

 

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a component thereof the payment or distribution of
interest for a stated period at a stated rate “to the extent permitted by applicable law,” the Trustee or the
Certificate Administrator, as the case may be, shall assume that such payment is so permitted unless a Responsible Officer of
the Trustee or the Certificate Administrator, as the case may be, has actual knowledge, or receives an Opinion of Counsel (at
the expense of the Person asserting the impermissibility) to the effect, that such payment is not permitted by
applicable law. The Depositor is not obligated to monitor or supervise the performance of the Trustee or the Certificate
Administrator under this Agreement or otherwise.

 

Section 8.04     Trustee
and Certificate Administrator May Own Certificates. The Trustee, the Certificate Administrator and any agent
of the Trustee or the Certificate Administrator in its individual capacity or any other capacity may become the owner or
pledgee of Certificates, and may deal with the Depositor, the Certificate Administrator, the Trustee, the Master Servicer,
the Special Servicer, the Initial Purchasers and the Underwriters in banking transactions, with the same rights it would have
if it were not Trustee, Certificate Administrator or such agent, as the case may be.

 

Section 8.05     Payment
of Trustee’s and Certificate Administrator’s Fees and Expenses; Indemnification. (a) On each
Distribution Date, prior to the distribution of amounts to the Certificateholders, the Certificate Administrator shall be
entitled to withdraw and pay the Trustee and itself its respective portion of the Trustee/Certificate Administrator Fee, as
reasonable compensation from amounts remitted to the Lower-Tier Distribution Account for all services rendered in the
execution of the trusts hereby created and in the exercise and performance of any of the powers and duties of the Trustee and
the Certificate Administrator at the Trustee/Certificate Administrator Fee Rate.

 

(b)        If
the Trustee assumes the servicing responsibilities of the Master Servicer or the Special Servicer hereunder pursuant to or otherwise
arising from the resignation or removal of the Master Servicer or the Special Servicer, the Trustee shall be entitled to the compensation
to which the Master Servicer or the Special Servicer, as the case may be, would have been entitled (other than the rights of the
Special Servicer to receive any Workout Fee specified in Section 3.12(c) of this Agreement if the Special Servicer is terminated).

 

(c)        The
Trustee, the Custodian and the Certificate Administrator shall be paid or reimbursed by the Trust Fund upon its request for all
reasonable expenses, disbursements and advances incurred or made by the Trustee, the Custodian or the Certificate Administrator
pursuant to and in accordance with any of the provisions of this Agreement (including the reasonable compensation and the expenses
and disbursements of its counsel and of all persons not regularly in its employ), which the Certificate Administrator will be
entitled to withdraw from the Distribution Accounts prior to the distribution to Certificateholders to the extent set forth herein
and to the extent such payments are “unanticipated expenses incurred by the REMIC” within the meaning of Treasury
Regulations Section 1.860G-1(b)(iii) except any such expense, disbursement or advance as may arise from its negligence,
willful misconduct or bad faith; provided, that, subject to the last paragraph of Section 8.01 and Section 8.02(a)(iii)
of this Agreement, the Trustee, the Custodian or the Certificate Administrator shall not refuse to perform any of their respective
duties hereunder solely as a result of the failure to be paid their respective portion of the Trustee/Certificate Administrator
Fee, or the Trustee’s,

 

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Custodian’s or Certificate Administrator’s previously-incurred expenses, as applicable.
The term “unanticipated expenses incurred by the REMIC” shall include any fees, expenses and disbursement of any separate
Trustee or co-Trustee appointed hereunder, only to the extent such fees, expenses and disbursements were not reasonably anticipated
as of the Closing Date and are attributable to the Lower-Tier REMIC, the Upper-Tier REMIC and the losses, liabilities, damages,
claims or expenses (including reasonable attorneys’ fees) incurred or advanced by an Indemnified Party in connection with
any litigation arising out of this Agreement attributable to the Lower-Tier REMIC, the Upper-Tier REMIC or the Grantor Trust,
including, without limitation, under Section 2.03, Section 3.10, the third paragraph of Section 3.11, Section 4.05
and Section 7.01 of this Agreement.

 

The
Master Servicer and the Special Servicer covenant and agree to pay or reimburse the Trustee for the reasonable expenses, disbursements
and advances incurred or made by the Trustee in connection with any transfer of the servicing responsibilities of the Master Servicer
or the Special Servicer, respectively, hereunder, pursuant to or otherwise arising from the resignation or removal of the Master
Servicer or Special Servicer (except in the case of removal of the Special Servicer without cause), as applicable, in accordance
with any of the provisions of this Agreement (and including the reasonable fees and expenses and disbursements of its counsel
and all other persons not regularly in its employ), except any such expense, disbursement or advance as may arise from the negligence,
willful misconduct or bad faith of the Trustee.

 

(d)        Each
of the Certificate Administrator, the Custodian, the Paying Agent, the Trustee, the Depositor, the Master Servicer and the Special
Servicer (each, for purposes of this Section 8.05(d), an “Indemnifying Party”) shall (severally and not
jointly) indemnify the Trustee (both in its capacity as Trustee and individually) and the Certificate Administrator (in its capacity
as Certificate Administrator, Custodian, Paying Agent and individually) and each of their Affiliates and each of the directors,
officers, employees, representatives and agents of the Trustee and the Certificate Administrator and each of their Affiliates
(each, for purposes of this Section 8.05(d), an “Indemnified Party”), and hold each of them harmless against
any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any
other costs, fees and expenses that the Indemnified Party may sustain in connection with this Agreement (including, without limitation,
reasonable fees and disbursements of counsel incurred by the Indemnified Party in any action or proceeding between the Indemnifying
Party and the Indemnified Party or between the Indemnified Party and any third party or otherwise) resulting from each such Indemnifying
Party’s respective willful misconduct, bad faith, fraud or negligence in the performance of each of its respective duties
hereunder or by reason of negligent disregard of its respective obligations and duties hereunder (including in the case of the
Master Servicer, any agent of the Master Servicer or sub-servicer).

 

The
Trust Fund shall indemnify each Indemnified Party and the Custodian from, and hold it harmless against, any and all losses, liabilities,
damages, penalties, fines, forfeitures, judgments, claims or unanticipated expenses (including, without limitation, reasonable
fees and disbursements of counsel incurred by the Indemnified Party in any action or proceeding between the Indemnifying Party
and the Indemnified Party or between the Indemnified Party and any third party or otherwise) arising in respect of this Agreement,
the Mortgage Loans or

 

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the Certificates other than (i) resulting from the willful misconduct, bad faith, fraud or negligence of
the Indemnified Party or the Custodian, as applicable, in the performance of its obligations and duties under this Agreement,
(ii) by reason of its negligent disregard of those obligations or duties, or as may arise from a breach of any representation
or warranty of the Indemnified Party or the Custodian, as applicable, made in this Agreement and (iii) as to which such Indemnified
Party or the Custodian, as applicable, is entitled to indemnification pursuant to this Section 8.05(d). The right of reimbursement
of the Indemnified Parties under this Section 8.05(d) shall be senior to the rights of all Certificateholders.

 

(e)        Notwithstanding
anything herein to the contrary, this Section 8.05 shall survive the termination or maturity of this Agreement or the resignation,
removal or termination of the Trustee or the Certificate Administrator, as the case may be, regarding rights accrued prior to
such resignation, removal or termination and (with respect to any acts or omissions during its respective tenures) the resignation,
removal or termination of the Master Servicer, the Special Servicer, the Paying Agent, the Certificate Administrator, the Certificate
Registrar or the Custodian.

 

(f)        This
Section 8.05 shall be expressly construed to include, but not be limited to, such indemnities, compensation, expenses, disbursements,
advances, losses, liabilities, damages and the like, as may pertain or relate to any environmental law or environmental matter.

 

(g)        Each
of the Certificate Administrator, the Custodian, the Paying Agent and the Trustee (in each case with respect to itself only, for
purposes of this Section 8.05(g), an “Indemnifying Party”) shall (severally and not jointly) indemnify
the Trust Fund, the Depositor, the Master Servicer, the Special Servicer and each other, and each of their respective Affiliates
and each of the directors, officers, employees and agents of the Master Servicer and the Special Servicer and their respective
Affiliates (each, for purposes of this Section 8.05(g), an “Indemnified Party”), and hold each of them
harmless against any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs,
judgments, and any other costs, fees and expenses that the Indemnified Party may sustain in connection with this Agreement (including,
without limitation reasonable fees and disbursements of counsel incurred by the Indemnified Party in any action or proceeding
between the Indemnifying Party and the Indemnified Party or between the Indemnified Party and any third party or otherwise) resulting
from the applicable Indemnifying Party’s willful misconduct, bad faith, fraud or negligence in the performance of its duties
hereunder or by reason of negligent disregard of its obligations and duties hereunder.

 

(h)        The
Certificate Administrator (for purposes of this Section 8.05(h), the “Indemnifying Party”) shall, solely
in its capacity as the 17g-5 Information Provider, indemnify each Mortgage Loan Seller and Deutsche Bank Securities Inc. (each,
for purposes of this Section 8.05(h), an “Indemnified Party”), and hold each of them harmless against
any and all claims, losses, damages, penalties, fines, forfeitures, reasonable legal fees and related costs, judgments, and any
other costs, fees and expenses that the Indemnified Party may sustain in connection with this Agreement (including, without limitation
reasonable fees and disbursements of counsel incurred by the Indemnified Party in any action or proceeding between the Indemnifying
Party and the Indemnified Party or between the Indemnified Party

 

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and any third party or otherwise) related to (i) the applicable
Indemnifying Party’s willful misconduct, bad faith, fraud or negligence in the performance of its duties hereunder or by
reason of negligent disregard of its obligations and duties hereunder or (ii) a determination by any Rating Agency that it
cannot reasonably rely on representations made by the Depositor or any Affiliate thereof pursuant to Exchange Act Rule 17g-5(a)(3),
to the extent caused by any such willful misconduct, bad faith, fraud or negligence in the performance of its duties hereunder
or by reason of negligent disregard referred to in clause (i) above by the Indemnifying Party.

 

Section 8.06     Eligibility
Requirements for Trustee and Certificate Administrator. The Trustee and Certificate Administrator hereunder shall at
all times:

 

(i)         be
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,

 

(ii)        be
authorized under such laws to exercise corporate trust powers and to accept the trust conferred under this Agreement,

 

(iii)       have
a combined capital and surplus of at least $50,000,000,

 

(iv)       (a)
have a rating on its unsecured long term debt of at least (1) “A2” by Moody’s (or, in the case of Wilmington
Trust, National Association, in its capacity as trustee, a long-term senior unsecured debt rating of at least “Baa2”
by Moody’s if the Master Servicer has a long-term senior unsecured debt rating of at least “A2” by Moody’s
and a short-term debt rating of at least “P-1” by Moody’s) and, if rated by KBRA, an equivalent rating from
KBRA and (2) “A-” by Fitch, and (b) have a rating on its short-term unsecured debt obligations rated at least (1)
“P-1” by Moody’s (or, in the case of Wilmington Trust, National Association, in its capacity as trustee, a short-term
unsecured debt rating of at least “P-2” by Moody’s if the Master Servicer has a long-term senior unsecured debt
rating of at least “A2” by Moody’s and a short-term debt rating of at least “P-1” by Moody’s)
and, if rated by KBRA, an equivalent rating from KBRA and (2) “F1” by Fitch,

 

(v)       
be subject to supervision or examination by federal or state authority and shall not be an Affiliate of the Master Servicer
or the Special Servicer (except, in the case of the Trustee, during any period when the Trustee has assumed the duties of the
Master Servicer or Special Servicer, as the case may be, pursuant to Section 7.02 of this Agreement), and

 

(vi)       not
be a Prohibited Party.

 

Notwithstanding
the foregoing, if the Trustee or the Certificate Administrator meets the provisions of clauses (i) through (iii), (v) and
(vi) above, but does not meet the provisions of clause (iv) above, the Trustee or the Certificate Administrator, as the case
may be, shall be deemed to meet the provisions of such clause (iv) (A) if it appoints a fiscal agent as a back-up liquidity
provider, provided that such fiscal agent meets the provisions of clauses (i) through (vi) above and shall have assumed
in writing all obligations of the Trustee or the

 

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Certificate Administrator, as the case may be, to make Advances under this Agreement
as and when required of the Trustee or the Certificate Administrator, as the case may be. If a corporation or association publishes
reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority,
then for purposes of this Section the combined capital and surplus of such corporation shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. If the place of business from which the
Trustee administers the Trust Fund is a state or local jurisdiction that imposes a tax on the Trust Fund or the net income of
either Trust REMIC (other than a tax corresponding to a tax imposed under the REMIC Provisions) the Trustee shall elect either
to (i) resign immediately in the manner and with the effect specified in Section 8.07 of this Agreement, (ii) pay
such tax and continue as Trustee or (iii) administer the Trust Fund from a state and local jurisdiction that does not impose
such a tax. If at any time the Trustee or the Certificate Administrator shall cease to be eligible in accordance with the provisions
of this Section, the Trustee or the Certificate Administrator, as the case may be, shall resign immediately in the manner and
with the effect specified in Section 8.07 of this Agreement.

 

Section 8.07     Resignation
and Removal of Trustee and Certificate Administrator. The Trustee and the Certificate Administrator may at any
time resign and be discharged from the trusts hereby created by giving written notice thereof to the Trustee, the Depositor,
the Certificate Administrator, the Operating Advisor, the Mortgage Loan Sellers, the Master Servicer, the Special Servicer,
the Directing Holder and the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information
Provider’s Website pursuant to Section 3.14(d) of this Agreement). Upon notice of resignation from the Trustee,
the Depositor shall promptly appoint a successor trustee, the appointment of which is subject to the requirements contained
in Section 8.06 of this Agreement and shall be, if no Control Termination Event has occurred and is continuing,
reasonably acceptable to the initial Directing Holder (or, in the event that there is a successor Directing Holder that is
not a Controlling Class Certificateholder as of the Closing Date, such successor Directing Holder). Upon notice of
resignation from the Certificate Administrator, the Trustee shall promptly appoint a successor certificate administrator, the
appointment of which is subject to the requirements contained in Section 8.06 of this Agreement. If no successor trustee
or certificate administrator shall have been so appointed and have accepted appointment within 30 days after the giving
of such notice of resignation, the resigning Trustee or Certificate Administrator, as the case may be, may petition any court
of competent jurisdiction for the appointment of a successor. The Trustee or the Certificate Administrator, as applicable,
shall bear all reasonable out of pocket costs and expenses of each other party hereto and each Rating Agency in connection
with its resignation.

 

If
at any time the Trustee or the Certificate Administrator shall cease to be eligible in accordance with the provisions of Section 8.06
of this Agreement and shall fail to resign after written request therefor by the Depositor or the Master Servicer, or if at any
time the Trustee or the Certificate Administrator shall become incapable of acting, or shall be adjudged bankrupt or insolvent,
or a receiver of the Trustee or the Certificate Administrator, as the case may be (or of its property), shall be appointed, or
any public officer shall take charge or control of the Trustee or the Certificate Administrator, as the case may be (or of its
property or affairs), for the purpose of rehabilitation, conservation or liquidation, then the

 

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Depositor or the Master Servicer
may remove the Trustee or the Certificate Administrator, as the case may be, and the Depositor or the Master Servicer shall promptly
appoint a successor by written instrument, which shall be delivered to the Trustee or the Certificate Administrator, as the case
may be, so removed and to the successor.

 

The
Holders of Certificates entitled to at least 51% of the Voting Rights may at any time remove the Trustee or the Certificate Administrator
and appoint a successor by written instrument or instruments, in eight originals, signed by such Holders or their attorneys-in-fact
duly authorized, one complete set of which instruments shall be delivered to each of the Depositor, the Master Servicer, the Special
Servicer, the Operating Advisor, the Trustee, the Certificate Administrator and the successor trustee or certificate administrator,
as applicable.

 

In
addition, if the Trustee or the Certificate Administrator is terminated without cause, the terminating party shall pay all of
the expenses of the Trustee or the Certificate Administrator, as the case may be, necessary to affect the transfer of its responsibilities
to the successor.

 

If
the Trustee is terminated or removed pursuant to this Section 8.07, all of its rights and obligations under this Agreement
and in and to the Mortgage Loans shall be terminated, other than any rights or obligations that accrued prior to the date of such
termination or removal (including the right to receive all fees, expenses, indemnities, and other amounts accrued or owing to
it under this Agreement, plus interest at the Advance Rate on all such amounts until received to the extent such amounts bear
interest as provided in this Agreement, with respect to periods prior to the date of such termination or removal).

 

If
the Certificate Administrator is terminated or removed pursuant to this Section 8.07, (i) all of its rights and obligations
under this Agreement and in and to the Mortgage Loans shall be terminated, other than any rights or obligations that accrued prior
to the date of such termination or removal (including the right to receive all fees, indemnities, expenses and other amounts accrued
or owing to it under this Agreement with respect to periods prior to the date of such termination or removal) and (ii) such
resignation, termination, or removal shall be effective with respect to each of its other capacities hereunder except its capacity
as Custodian (but including, without limitation, its capacities as Certificate Registrar, 17g-5 Information Provider, Paying Agent
and Authenticating Agent).

 

Upon
the resignation, assignment, or transfer of the Trustee or its business to a successor, or upon the termination of the Trustee,
(a) the outgoing Trustee, at its own expense without right to reimbursement therefor, shall (A) endorse the original
executed Note for each Mortgage Loan (to the extent that the original executed Note for each Mortgage Loan was endorsed to the
outgoing Trustee), without recourse, representation or warranty, express or implied, to the order of the successor, as trustee
for the registered holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates or in blank, and (B) in
the case of the other assignable Loan Documents (to the extent such other Loan Documents were assigned to the outgoing Trustee),
assign and record such Loan Documents to such successor, and such successor shall review the documents delivered to it or to the
Custodian with respect to each Mortgage Loan, and certify in writing that, as to each Mortgage Loan then subject to this Agreement,
such endorsement and assignment has been

 

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made; (b) if any original executed Note for a Mortgage Loan was not endorsed to
the outgoing Trustee, the Custodian shall deliver such Note to the successor trustee and the Custodian shall cooperate with any
successor trustee to ensure that such Note is endorsed (without recourse, representation or warranty, express or implied) to the
order of the successor trustee, as trustee for the registered holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through
Certificates or in blank. If any assignable Loan Document (other than the Note) was not assigned to the outgoing Trustee or if
the Trustee is removed pursuant to Section 8.07 without cause, with respect to the Loan Documents identified in clause (B) of
the preceding sentence, the Custodian shall deliver such Loan Document to the successor trustee and, if appropriate, such Loan
Documents shall be recorded at the expense of the Trust (i) prior to the occurrence and continuance of a Control Termination
Event, with the consent of the Controlling Class Representative, (ii) after the occurrence and continuance of a Control Termination
Event but prior to the occurrence and continuance of a Consultation Termination Event, after consultation with the Controlling
Class Representative and the Operating Advisor and (iii) after the occurrence and continuance of a Consultation Termination
Event, after consultation with the Operating Advisor and the reasonable cooperation (as determined by the Depositor) of the Depositor.

 

Section 8.08     Successor
Trustee and Certificate Administrator. (a) Any successor trustee or certificate administrator shall execute,
acknowledge and deliver to the Depositor, the Operating Advisor, the Master Servicer, the Certificate Administrator (or in
the case of a successor certificate administrator, to the predecessor Certificate Administrator) and the Trustee, as the case
may be, instruments accepting their appointment hereunder, and thereupon the resignation or removal of the predecessor
Trustee or Certificate Administrator, as applicable, shall become effective and such successor, without any further act, deed
or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor hereunder,
with the like effect as if originally named as Trustee or Certificate Administrator, as applicable, herein; provided
that such successor shall satisfy the requirements contained in Section 8.06 of this Agreement. The predecessor Trustee
or Certificate Administrator, as applicable, shall deliver to its successor all Mortgage Files and related documents and
statements held by it hereunder, and the Depositor and the predecessor Trustee or Certificate Administrator, as applicable,
shall execute and deliver such instruments and do such other things as may reasonably be required for more fully and
certainly vesting and confirming in the successor all such rights, powers, duties and obligations. No successor trustee or
certificate administrator, as the case may be, shall accept appointment as provided in this Section 8.08 unless at the
time of such acceptance such successor shall be eligible under the provisions of Section 8.06 of this Agreement.

 

Upon
acceptance of appointment by a successor trustee as provided in this Section 8.08, the Depositor shall mail notice of the
succession of such Trustee hereunder to all Holders of Certificates at their addresses as shown in the Certificate Register. If
the Depositor fails to mail such notice within 10 days after acceptance of appointment by the successor trustee, the successor
trustee shall cause such notice to be mailed at the expense of the Depositor.

 

(b)        Any
successor trustee appointed pursuant to this Agreement shall satisfy the eligibility requirements set forth in Section 8.06
hereof.

 

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Section 8.09     Merger
or Consolidation of Trustee or Certificate Administrator. Any corporation into which the Trustee or the
Certificate Administrator may be merged or converted or with which it may be consolidated or any corporation resulting from
any merger, conversion or consolidation to which the Trustee or the Certificate Administrator shall be a party, or any
corporation succeeding to all or substantially all of the corporate trust business of the Trustee or the Certificate
Administrator, shall be the successor of the Trustee or the Certificate Administrator, as the case may be, hereunder; provided
that such corporation shall be eligible under the provisions of Section 8.06 of this Agreement without the execution or
filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary
notwithstanding. The Trustee or the Certificate Administrator, as applicable, shall notify the other parties hereto of any
such event, and the Certificate Administrator shall post notice of such merger or consolidation to the Certificate
Administrator’s Website in accordance with Section 3.14(d) of this Agreement and provide notice of such event to
the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website
pursuant to Section 3.14(d) of this Agreement).

 

Section 8.10     Appointment
of Co-Trustee or Separate Trustee. Notwithstanding any other provisions hereof, at any time, for the purpose of
meeting any legal requirements of any jurisdiction in which any part of the Trust Fund or property securing the same may at
the time be located, the Depositor and the Trustee acting jointly shall have the power and shall execute and deliver all
instruments to appoint one or more Persons approved by the Trustee to act (at the expense of the Trust) as co-Trustee or
co-Trustees, jointly with the Trustee, or separate Trustee or separate Trustees, of all or any part of the Trust Fund, and to
vest in such Person or Persons, in such capacity, such title to the Trust Fund, or any part thereof, and, subject to the
other provisions of this Section 8.10, such powers, duties, obligations, rights and trusts as the Depositor and the
Trustee may consider necessary or desirable. If the Depositor shall not have joined in such appointment within 15 days after
the receipt by it of a request so to do, or in case a Servicer Termination Event shall have occurred and be continuing, the
Trustee alone shall have the power to make such appointment. Except as required by applicable law, the appointment of a
co-Trustee or separate Trustee shall not relieve the Trustee of its responsibilities, obligations and liabilities hereunder.
No co-Trustee or separate Trustee hereunder shall be required to meet the terms of eligibility as a successor Trustee under
Section 8.06 hereunder and no notice to Holders of Certificates of the appointment of co-Trustee(s) or separate
Trustee(s) shall be required under Section 8.08 hereof.

 

In
the case of any appointment of a co-Trustee or separate Trustee pursuant to this Section 8.10, all rights, powers, duties
and obligations conferred or imposed upon the Trustee shall be conferred or imposed upon and exercised or performed by the Trustee
and such separate Trustee or co-Trustee jointly (it being understood that such separate Trustee or co-Trustee is not authorized
to act separately without the Trustee joining in such act), except to the extent that under any law of any jurisdiction in which
any particular act or acts are to be performed (whether as Trustee hereunder or as successor to the Master Servicer hereunder),
the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations
(including the holding of title to the Trust Fund or

 

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any portion thereof in any such jurisdiction) shall be exercised and performed
by such separate Trustee or co-Trustee solely at the direction of the Trustee.

 

No
Trustee under this Agreement shall be personally liable by reason of any act or omission of any other trustee under this Agreement.
The Depositor and the Trustee acting jointly may at any time accept the resignation of or remove any separate Trustee or co-Trustee,
or if the separate Trustee or co-Trustee is an employee of the Trustee, the Trustee acting alone may accept the resignation of
or remove any separate Trustee or co-Trustee.

 

Any
notice, request or other writing given to the Trustee shall be deemed to have been given to each of the then separate Trustees
and co-Trustees, as effectively as if given to each of them. Every instrument appointing any separate Trustee or co-Trustee shall
refer to this Agreement and the conditions of this Article VIII. Every such instrument shall be filed with the Trustee. Each
separate Trustee and co-Trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified
in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject to all the
provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the
liability of, or affording protection to, the Trustee. In no event shall any such separate Trustee or co-Trustee be entitled to
any provision relating to the conduct of, affecting the liability of or affording protection to such separate Trustee or co-Trustee
that imposes a standard of conduct less stringent than that imposed by the Trustee hereunder, affording greater protection than
that afforded to the Trustee hereunder or providing a greater limit on liability than that provided to the Trustee hereunder.

 

Any
separate Trustee or co-Trustee may, at any time, constitute the Trustee its agent or attorney-in-fact, with full power and authority,
to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name.
If any separate Trustee or co-Trustee shall die, become incapable of acting, resign or be removed, all of its estates, properties,
rights, remedies and trusts shall vest in and be exercised by the Trustee, to the extent permitted by law, without the appointment
of a new or successor Trustee.

 

Article IX

TERMINATION

 

Section 9.01     Termination. (a)
The respective obligations and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Operating
Advisor, the Certificate Administrator and the Trustee created hereby with respect to the Certificates (other than the
obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as
hereinafter set forth) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholders of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master
Servicer, as the case may be, required hereunder to be so paid on the Distribution Date following the earlier to occur of
(i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with
Section 9.01(c) of this Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the
Mortgage Loans in accordance with

 

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Section 9.01(g) of this Agreement; and (iii) the later of (a) the receipt or
collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and
disposition pursuant to this Agreement of the last asset held by the Trust Fund; provided, that in no event shall the
trust created hereby continue beyond the expiration of twenty-one years from the death of the last survivor of the
descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date
hereof.

 

For
purposes of this Section 9.01, the Sole Certificateholder shall have the first option to terminate the Trust Fund, pursuant
to Section 9.01(g), and then the Certificateholder owning a majority of the Percentage Interests in the Controlling Class,
the Special Servicer and the Master Servicer, in that order, shall have the option to terminate the Trust Fund pursuant to subsection (c).
For purposes of this Section 9.01, the Directing Holder with the consent of the Holders of the Controlling Class, shall act
on behalf of the Holders of the Controlling Class in purchasing the assets of the Trust Fund and terminating the Trust.

 

(b)        The
Trust Fund, the Lower-Tier REMIC and the Upper-Tier REMIC shall be terminated and the assets of the Trust Fund shall be sold or
otherwise disposed of in connection therewith, only pursuant to a “plan of complete liquidation” within the meaning
of Section 860F(a)(4)(A) of the Code providing for the actions contemplated by the provisions hereof and pursuant to
which the applicable Notice of Termination is given, and requiring that the Trust Fund, the Lower-Tier REMIC and the Upper-Tier
REMIC shall terminate on a Distribution Date occurring not more than 90 days following the date of adoption of the plan of
complete liquidation. For purposes of this Section 9.01(b), the Notice of Termination given pursuant to Section 9.01(c)
of this Agreement shall constitute the adoption of the plan of complete liquidation as of the date such notice is given, which
date shall be specified by the Certificate Administrator in the final federal income tax returns of the Upper-Tier REMIC and the
Lower-Tier REMIC. Notwithstanding the termination of the Lower-Tier REMIC or the Upper-Tier REMIC or the Trust Fund, the Certificate
Administrator shall be responsible for filing the final Tax Returns for each such REMIC and for the Grantor Trust for the period
ending with such termination, and shall retain books and records with respect to such REMICs and the Grantor Trust for the same
period of retention for which it maintains its own tax returns or such other reasonable period. The Trustee shall sign all Tax
Returns and other reports required by this Section.

 

(c)        The
Certificateholder owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises
such option, the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an
early termination of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee,
the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date specifying the Anticipated
Termination Date, by purchasing on such date all, but not less than all, of the Mortgage Loans then included in the Trust Fund,
and the Trust’s interest in all property acquired in respect of any Mortgage Loan, at a purchase price, payable in cash,
equal to the sum of, without duplication:

 

(i)         100%
of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the last day of the month preceding such
Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

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(ii)        the
fair market value of all other property included in the Trust Fund as of the last day of the month preceding such Anticipated
Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer as of a date not more than 30 days
prior to the last day of the month preceding such Distribution Date;

 

(iii)       all
unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage Loan as to which title to the related
Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding such Anticipated Termination
Date (less any P&I Advances previously made on account of interest); and

 

(iv)       the
aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid Servicing Compensation, Special
Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC® License Fees
and Trust Fund expenses.

 

If
the Certificateholder owning a majority of the Percentage Interests in the Controlling Class, the Master Servicer or the Special
Servicer purchases all of the Mortgage Loans and all property acquired in respect of any Mortgage Loan remaining in the Trust
Fund in accordance with this Section 9.01(c), the Certificateholder owning a majority of the Percentage Interests in the
Controlling Class, the Master Servicer or the Special Servicer, as applicable, shall deposit in the Lower-Tier Distribution Account
not later than the Servicer Remittance Date relating to the Anticipated Termination Date on which the final distribution on the
Certificates is to occur, an amount in immediately available funds equal to the above-described purchase price (exclusive of any
portion thereof payable to any Person other than the Certificateholders pursuant to Section 3.05(a) of this Agreement, which
portion shall be deposited in the Collection Account). In addition, the Master Servicer shall transfer to the Certificate Administrator
for deposit in the Lower-Tier Distribution Account all amounts required to be transferred thereto on the Servicer Remittance Date
from the Collection Account, together with any other amounts on deposit in the Collection Account that would otherwise be held
for future distribution. Upon confirmation by the Master Servicer in writing that it has transferred all such amounts to the Certificate
Administrator, the Custodian shall release or cause to be released to the Certificateholder owning a majority of the Percentage
Interests in the Controlling Class, the Master Servicer or the Special Servicer, as applicable, the Mortgage Files for the remaining
Mortgage Loans and shall execute all assignments, endorsements and other instruments furnished to it by such purchasing party
as shall be necessary to effectuate transfer of the Mortgage Loans and all property acquired in respect of any Mortgage Loan remaining
in the Trust Fund, and the Trust Fund shall be liquidated in accordance with this Article IX.

 

For
purposes of this Section 9.01, the Directing Holder with the consent of the Holders of the Controlling Class, shall act on
behalf of the Holders of the Controlling Class in purchasing the assets of the Trust Fund and terminating the Trust.

 

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As
a condition to the purchase of the assets of the Trust Fund pursuant to this Section 9.01(c), the purchaser shall deliver
to the Trustee and the Certificate Administrator an Opinion of Counsel, which shall be at the expense of such purchaser, stating
that such termination will be a “qualified liquidation” under Section 860F(a)(4)(A) of the Code. All costs
and expenses incurred by any and all parties to this Agreement or by the Trust Fund in connection with the purchase of the Mortgage
Loans and other assets of the Trust Fund pursuant to this Section 9.01(c) shall be borne by the party exercising its purchase
rights hereunder. The Trustee and the Certificate Administrator shall be entitled to rely conclusively on any determination made
by an Independent appraiser pursuant to this subsection (c).

 

(d)        If
the Trust Fund has not been previously terminated pursuant to subsection (c) of this Section 9.01, the Certificate
Administrator shall determine as soon as practicable the Distribution Date on which the Certificate Administrator reasonably anticipates,
based on information with respect to the Mortgage Loans previously provided to it, that the final distribution will be made to
the Holders of outstanding Regular Certificates, notwithstanding that such distribution may be insufficient to distribute in full
the Certificate Balance of each Class of Certificates, together with amounts required to be distributed on such Distribution Date
pursuant to Section 4.01(b) of this Agreement; provided, that, if no such Classes of Certificates are then outstanding,
the final distribution shall be made (i) to the Holders of the Class LR Certificates of any amount remaining in the
Collection Accounts or the Lower-Tier Distribution Account, and (ii) to the Holders of the Class R Certificates of any
amount remaining in the Upper-Tier Distribution Account.

 

(e)        Notice
of any termination of the Trust Fund pursuant to this Section 9.01 shall be mailed by the Certificate Administrator to Certificateholders
(with a copy to the Trustee, the Master Servicer, the Special Servicer, the Mortgage Loan Sellers, the Operating Advisor, the
related Serviced Companion Loan Noteholder (if any) and the 17g-5 Information Provider (who shall promptly post such notice to
the 17g-5 Information Provider’s Website pursuant to Section 3.14(d) of this Agreement)), at their addresses shown
in the Certificate Registrar not more than 30 days, and not less than ten days, prior to the Anticipated Termination Date.
The notice mailed by the Certificate Administrator to Certificateholders shall:

 

(i)         specify
the Anticipated Termination Date on which the final distribution is anticipated to be made to Holders of Certificates of the Classes
specified therein;

 

(ii)        specify
the amount of any such final distribution, if known; and

 

(iii)       state
that the final distribution to Certificateholders will be made only upon presentation and surrender of Certificates at the office
of the Paying Agent therein specified.

 

If
the Trust Fund is not terminated on any Anticipated Termination Date for any reason, the Certificate Administrator shall promptly
mail notice thereof to each Certificateholder.

 

(f)         Any
funds not distributed on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall
be set aside and held in trust for the

 

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account of the appropriate non-tendering Certificateholders, whereupon the Trust Fund shall
terminate. If any Certificates as to which notice of the Termination Date has been given pursuant to this Section 9.01 shall
not have been surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator
shall mail a second notice to the remaining Certificateholders, at their last addresses shown in the Certificate Register, to
surrender their Certificates for cancellation in order to receive, from such funds held, the final distribution with respect thereto.
If within one year after the second notice any Certificate shall not have been surrendered for cancellation, the Certificate Administrator
may, directly or through an agent, take appropriate steps to contact the remaining Certificateholders concerning surrender of
their Certificates. The costs and expenses of maintaining such funds and of contacting Certificateholders shall be paid out of
the assets which remain held. If within two years after the second notice any Certificates shall not have been surrendered for
cancellation, the Paying Agent shall pay to the Certificate Administrator all amounts distributable to the Holders thereof, and
the Certificate Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its
termination as Certificate Administrator hereunder and the transfer of such amounts to a successor certificate administrator and
(ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with this Section 9.01. Any amounts remaining in the Class V Distribution
Account representing Excess Interest shall be distributed to the Holders of the Class V Certificates.

 

(g)       Following
the date on which the Class X-A Notional Amount, the Class X-B Notional Amount and the Class X-C Notional
Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3,
Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole
Certificateholder shall have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D,
Class X-E and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the
Class X-D, Class X-E and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii)
other than the Class V, Class R and Class LR Certificates) for all of the Mortgage Loans and each REO
Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) by giving written
notice to all the parties hereto no later than 60 days prior to the anticipated date of exchange; provided that
such Sole Certificateholder pays to the Certificate Administrator as additional compensation an amount equal to one day of
interest calculated at the Prime Rate on the aggregate Certificate Balance of the Sequential Pay Certificates as of the first
day of the current calendar month and such Sole Certificateholder pays to the Master Servicer as additional compensation an
amount equal to (i) the product of (a) the Prime Rate, (b) the aggregate Certificate Balance of the then outstanding
Certificates (other than any Class of Class X Certificates, the Class V Certificates, the Class R Certificates and
the Class LR Certificates) as of the date of the exchange and (c) three, divided by (ii) 360, for the Mortgage Loans and
any REO Properties remaining in the Trust Fund and such payments shall be treated as made by the Sole Certificateholder
directly to the Certificate Administrator and the Master Servicer and not through or by either of the Trust REMICs; provided, further,
that if the Holders of the Class X-D, Class X-E and Class X-F Certificates have assigned their Voting Rights to the
“Sole Certificateholder”, then the Sole Certificateholder may exchange the Class E, Class F, Class G
and Class H Certificates for all

 

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of the Mortgage Loans
and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a), and the Holders
of the Class X-D Certificates shall be entitled to exchange those Certificates for consideration in an amount to be agreed by
the Sole Certificateholder and the Holders of the Class X-D, Class X-E and Class X-F Certificates (the “Class X
Payoff Amount”); provided, that the Class X Payoff Amount shall consist solely of cash or other assets otherwise
payable or deliverable by the Trust to the Sole Certificateholder and to no other Person. If the Sole Certificateholder elects
to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the
Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates
pursuant to the definition of “Sole Certificateholder” and (ii) other than the Class V, Class R and Class LR
Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund in accordance with the preceding
sentence, such Sole Certificateholder, not later than the Distribution Date on which the final distribution on the Certificates
is to occur, shall deposit in the Collection Account an amount in immediately available funds equal to all amounts due and owing
to the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee
hereunder through the date of the liquidation of the Trust Fund that may be withdrawn from the Collection Account, or an escrow
account acceptable to the respective parties hereto, pursuant to Section 3.06(a) of this Agreement or that may be withdrawn
from the Distribution Accounts pursuant to Section 3.06(f) and Section 3.06(h) of this Agreement, but only to the extent
that such amounts are not already on deposit in the Collection Account. In addition, the Master Servicer shall transfer all amounts
required to be transferred to the Certificate Administrator for deposit in the Lower-Tier Distribution Account on such Servicer
Remittance Date from the Collection Account pursuant to Section 3.05 of this Agreement. Upon confirmation from the Certificate
Administrator that such final deposits have been made and following the surrender of all the then-outstanding Certificates (other
than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the
Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant to the definition of “Sole Certificateholder”
and (ii) other than the Class V, Class R and Class LR Certificates) on the final Distribution Date to the Certificate
Administrator, the Custodian shall (i) upon receipt of a Request for Release from the Master Servicer, release to the Sole
Certificateholder or any designee thereof, the Mortgage Files for the remaining Mortgage Loans and shall execute all assignments,
endorsements and other instruments furnished to it by the Sole Certificateholder as shall be necessary to effectuate transfer
of the Mortgage Loans and REO Properties remaining in the Trust Fund and (ii) if the Sole Certificateholder has only taken an
assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant to the definition of “Sole
Certificateholder”, upon receipt of the Class X-D, Class X-E and Class X-F Certificates, release the Class X Payoff
Amount to the Holders of the Class X-D, Class X-E and Class X-F Certificates, and the Trust Fund shall be liquidated in accordance
with this Article IX; provided, that the release of the Class X Payoff Amount to the Holders of the Class X-D,
Class X-E and Class X-F Certificates shall be deemed to be delivery of the Class X Payoff Amount by the Trust to the Sole
Certificateholder and by the Sole Certificateholder to the Holders of the Class X-D, Class X-E and Class X-F Certificates. The
remaining Mortgage Loans and REO Properties are deemed distributed to the Sole Certificateholder in liquidation of the Trust Fund
pursuant to this Article IX. Solely for federal income tax purposes, the Sole Certificateholder shall be deemed to have purchased
the assets of the Lower-Tier REMIC for an amount equal to the remaining Certificate Balance of its

 

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Certificates (other than the
Class V, Class R and Class LR Certificates), plus accrued, unpaid interest with respect thereto, and the Certificate
Administrator shall credit such amounts against amounts distributable in respect of the Lower-Tier Regular Interests and such
Certificates.

 

(h)       The
duties of the Operating Advisor under this Agreement shall terminate, without cost or expense to the Operating Advisor, upon termination
of the Trust Fund.

 

Article X

EXCHANGE ACT REPORTING AND REGULATION AB COMPLIANCE

 

Section 10.01   Intent
of the Parties; Reasonableness. Except with respect to Section 10.08, Section 10.11, Section 10.13,
Section 10.14, Section 10.15, Section 10.16 and Section 10.17, the parties hereto acknowledge and agree that
the purpose of this Article X is to facilitate compliance by the Depositor (and any Other Depositor of any Other Securitization
that includes a Serviced Companion Loan) with the provisions of Regulation AB and related rules and regulations of the Commission.
None of the Depositor, the Certificate Administrator or the Trustee shall exercise its rights to request delivery of information
or other performance under these provisions other than in reasonable good faith, or for purposes other than compliance with the
Securities Act, the Exchange Act, the Sarbanes-Oxley Act and, in each case, the rules and regulations of the Commission thereunder.
The parties to this Agreement acknowledge that interpretations of the requirements of Regulation AB may change over time due to
interpretive guidance provided by the Commission or its staff, and agree to comply, subject to Section 10.02, with reasonable
requests made by the Depositor (or any Other Depositor or Other Trustee of any Other Securitization that includes a Serviced Companion
Loan), the Certificate Administrator or the Trustee in reasonable good faith for delivery of information under these provisions
on the basis of such evolving interpretations of Regulation AB (to the extent such interpretations require compliance and are
not “grandfathered” and do not mandate compliance). In connection with the COMM
2015-CCRE26 Commercial Mortgage Pass-Through Certificates and any Other Securitization subject to Regulation AB that includes
a Serviced Companion Loan, subject to the preceding sentence, each of the parties to this Agreement shall cooperate fully with
the Depositor, the Certificate Administrator, the Trustee and any Other Depositor or Other Trustee of any Other Securitization
that includes a Serviced Companion Loan, as applicable, to deliver or make available to the Depositor, the Certificate Administrator,
the Trustee and any such Other Depositor or Other Trustee, as applicable (including any of their assignees or designees), any
and all information in its possession and necessary in the reasonable good faith determination of the Depositor, the Certificate
Administrator, the Trustee or such Other Depositor or Other Trustee, as applicable, to permit the Depositor or such Other Depositor,
as applicable, to comply with the provisions of Regulation AB, together with such disclosure relating to the Master Servicer,
the Special Servicer, the Operating Advisor, the Certificate Administrator and the Trustee, as applicable, and any Servicing Function
Participant, or the Servicing of the Mortgage Loans (other than a Non-Serviced Mortgage Loan) (or, if applicable, the related
Serviced Companion Loan), reasonably believed by the Depositor, the Certificate Administrator, the Trustee or the related Other
Depositor or the related Other Trustee, as applicable, in good faith to be necessary in order to effect such compliance. Each
party to this

 

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Agreement shall have a reasonable period of
time to comply with any written request made under this Section 10.01, but in any event, shall, upon reasonable advance
written request, provide information in sufficient time to allow the Depositor, the Certificate Administrator or the Trustee,
as applicable, to satisfy any related filing requirements.

 

For
purposes of this Article X, to the extent any party has an obligation to exercise commercially reasonable efforts to cause
a third party to perform, such party hereunder shall not be required to bring any legal action against such third party in connection
with such obligation.

 

Section 10.02   Notification
Requirements and Deliveries in Connection with securitization of a Serviced Companion Loan. (a) Any other
provision of this Article X to the contrary notwithstanding, including, without limitation, any deadlines for delivery
set forth in this Article X, in connection with the requirements contained in this Article X that provide for the
delivery of information and other items to, and the cooperation with, the Other Depositor and Other Trustee of any Other
Securitization that includes a Companion Loan and is subject to Regulation AB, no party hereunder shall be obligated to
provide any such items to or cooperate with such Other Depositor or Other Trustee until the Other Depositor or Other Trustee
of such Other Securitization has provided each party hereto with not less than 10 Business Days’ (or such shorter
period as required for such Other Depositor or Other Trustee to comply with related filing obligations, provided that (i)
such Other Depositor or Other Trustee, as applicable, has provided written notice as soon as reasonably practicable and,
concurrently with such written notice, obtained verbal confirmation of receipt of such written notice, in each case, in
accordance with Section 11.05 of this Agreement and (ii) such period shall not be less than 3 Business Days’) written
notice (which shall only be required to be delivered once) (i) stating that such Other Securitization is subject to
Regulation AB and that the Other Securitization is subject to Exchange Act reporting, and (ii) specifying in reasonable
detail the information and other items requested to be delivered (insofar as such information or other items are not
expressly identified herein); provided, that if Exchange Act reporting is being requested, such Other Depositor
or Other Trustee is only required to provide a single written notice to such effect. Any reasonable cost and expense of the
Master Servicer, Special Servicer, Operating Advisor, Trustee and Certificate Administrator in cooperating with such Other
Depositor or Other Trustee of such Other Securitization (above and beyond their expressed duties hereunder) shall be the
responsibility of such Other Depositor or Other Securitization. The parties hereto shall have the right to request written
confirmation from the Other Depositor or Other Trustee of such Other Securitization as to whether Regulation AB or the
Exchange Act requires the delivery of the items identified in this Article X to such Other Depositor and Other Trustee
of such Other Securitization prior to providing any of the reports or other information required to be delivered under this
Article X in connection therewith and if any such party makes such a request, then (i) upon such requesting
party’s receipt of such written confirmation, such requesting party shall comply with the deadlines for delivery set
forth in this Article X with respect to such Other Securitization and (ii) until such requesting party’s
receipt of such written confirmation, such party shall not be required to deliver such items. The parties hereunder shall
also have the right to require that such Other Depositor provide them with the contact details of such Other Depositor, Other
Trustee and any other parties to the Other Pooling and Servicing Agreement relating to such Other Securitization.

 

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(b)        Each
of the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee shall, upon reasonable prior written
request given in accordance with the terms of Section 10.02(a) above, and subject to a right of the Master Servicer, the
Special Servicer, the Certificate Administrator or the Trustee, as the case may be, to review and approve such disclosure materials,
permit a holder of a related Serviced Companion Loan to use such party’s description contained in the Prospectus (updated
as appropriate by the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as applicable) for
inclusion in the disclosure materials relating to any securitization of a Serviced Companion Loan.

 

(c)        The
Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee, upon reasonable prior written request given
in accordance with the terms of Section 10.02(a) above, shall each timely provide (to the extent the out-of-pocket cost thereof
is paid or caused to be paid by the requesting party) to the Other Depositor and any underwriters with respect to any Other Securitization
that includes a Serviced Companion Loan such opinion(s) of counsel, certifications and/or indemnification agreement(s) with respect
to the updated description referred in Section 10.02(b) with respect to such party, substantially identical to those,
if any, delivered by the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as the case may
be, or their respective counsel, in connection with the information concerning such party in the Prospectus and/or any other disclosure
materials relating to this Trust (updated as deemed appropriate by the Master Servicer, the Special Servicer, the Certificate
Administrator or the Trustee, or their respective legal counsel, as the case may be). Neither the Master Servicer, the Special
Servicer, the Certificate Administrator or the Trustee shall be obligated to deliver any such item with respect to the securitization
of a Serviced Companion Loan if it did not deliver a corresponding item with respect to this Trust.

 

(d)        Each
of the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee, upon reasonable prior written request
given in accordance with the terms of Section 10.02(a) above, shall provide (to the extent the out-of-pocket cost thereof is paid
or caused to be paid by the applicable party set forth below in this Section 10.02(d)) to the Other Depositor and the Other Trustee
under the Other Pooling and Servicing Agreement related to any Other Securitization the following: (i) any information (including,
but not limited to, disclosure information) required for such Other Securitization to comply in a timely manner with applicable
filing requirements under Items 1.01 and 6.02 of Form 8-K and (ii) such opinion(s) of counsel, certifications and/or indemnification
agreement(s) with respect to such information that are substantially similar to those delivered by the Master Servicer, the Special
Servicer, the Certificate Administrator or the Trustee, as the case may be, or their respective counsel, in connection with the
information concerning such party in the Prospectus and/or any other disclosure materials relating to this Trust.

 

In
the case of a Form 8-K that is filed by or on behalf of an Other Securitization in connection with the closing of this COMM 2015-CCRE26
Mortgage Trust securitization transaction, the out-of-pocket cost of the information, opinion(s) of counsel, certifications and
indemnification agreement(s) provided by or on behalf of the Master Servicer, the Special Servicer, the Certificate Administrator
or the Trustee, as the case may be, pursuant to this

 

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Section 10.02(d) shall be paid or caused to be paid (pursuant to a payment
arrangement reasonably acceptable to the delivering party and the receiving party and agreed to as a condition precedent to delivery
of such items) by the applicable mortgage loan seller that transferred the related Serviced Companion Loan to the related Other
Depositor for inclusion in such Other Securitization.

 

In
the case of a Form 8-K that is filed by or on behalf of an Other Securitization as a result of the termination, removal, resignation
or any other replacement of the Master Servicer, the Special Servicer, the Trustee or the Certificate Administrator under this
Agreement, the out-of-pocket cost of the information, opinion(s) of counsel, certifications and indemnification agreement(s) provided
by or on behalf of the Master Servicer, the Special Servicer, the Certificate Administrator or the Trustee, as the case may be,
pursuant to this Section 10.02(d) shall be paid or caused to be paid by the same party or parties required to pay the costs and
expenses relating to such termination, removal, resignation or other replacement pursuant to this Agreement.

 

Section 10.03    Information
to be Provided by the Master Servicer and the Special Servicer. (a) For so long as the Trust is subject to the
reporting requirements of the Exchange Act and for so long as any Other Securitization that includes a Serviced Companion
Loan is subject to the reporting requirements of the Exchange Act (in addition to any requirements contained in
Section 10.09) in connection with the succession to the Master Servicer, Special Servicer or any Servicing Function
Participant (if such Servicing Function Participant is a servicer as contemplated by Item 1108(a)(2) of Regulation AB) as
servicer or Sub-Servicer under or as contemplated by this Agreement or any related Other Pooling and Servicing Agreement by
any Person (i) into which the Master Servicer, Special Servicer or such Servicing Function Participant may be merged or
consolidated, (ii) which may be appointed as a sub-servicer (other than the appointment of a Mortgage Loan Seller
Sub-Servicer) by a Master Servicer or Special Servicer, or (iii) that is appointed as a successor Master Servicer or
successor Special Servicer pursuant to Section 3.22 or Section 7.02, the Master Servicer, the Special Servicer or
any Servicing Function Participant (with respect to the foregoing clauses (i) and (ii)) or the successor Master Servicer or
the successor Special Servicer (with respect to the foregoing clause (iii)) shall, as a condition to such succession and
at the reasonable expense of the same party or parties required to pay the costs and expenses relating to such succession
pursuant to this Agreement, provide to the Depositor and to any Other Depositor related to any Other Securitization that
includes a Serviced Companion Loan, at least 5 Business Days (other than a succession or appointment pursuant to
Section 7.01(b) for which notice shall be delivered as soon as reasonably practicable) prior to the effective date
of such succession or appointment as long as such disclosure prior to such effective date would not be violative of any
applicable law or confidentiality agreement, otherwise no later than the second Business Day after such effective date, but
in no event later than the time required pursuant to Section 10.09, (x) written notice to the Trustee, the
Certificate Administrator and the Depositor (and any Other Trustee and Other Depositor related to any Other Securitization
that includes a Serviced Companion Loan) of such succession or appointment, (y) in writing and in form and substance
reasonably satisfactory to the Trustee, the Certificate Administrator and the Depositor (or any Other Trustee or Other
Depositor of any Other Securitization that includes a Serviced Companion Loan), all information relating to such successor
reasonably requested by the Depositor (or such Other Depositor) so that it may comply with its reporting

 

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obligation under
Items 1.01 and 6.02 of Form 8-K with respect to any Class of Certificates or Serviced Companion Loan Securities and
(z) such opinion(s) of counsel, certifications and/or indemnification agreement(s) with respect to such information that
are substantially similar to those delivered by the Master Servicer or the Special Servicer, as the case may be, or their
respective counsel, in connection with the information concerning such party in the Prospectus and/or any other disclosure
materials relating to this Trust.

 

Section 10.04    Information
to be Provided by the Trustee. (a) For so long as the Trust or Other Securitization is subject to the reporting
requirements of the Exchange Act, (in addition to any requirements contained in Section 10.09) in connection with the
succession to the Trustee as Trustee or appointment of a co-Trustee under this Agreement by any Person (i) into which
the Trustee may be merged or consolidated, (ii) which may be appointed as a co-Trustee or separate Trustee pursuant to
Section 8.10, or (iii) that is appointed as a successor Trustee pursuant Section 8.08, the Trustee (with
respect to the foregoing clauses (i) and (ii)) or the successor Trustee (with respect to the foregoing clause (iii))
shall, as a condition to such succession and at the reasonable expense of the same party or parties required to pay the costs
and expenses relating to such succession pursuant to this Agreement, provide to the Depositor and to the Other Depositor
related to any Other Securitization that includes a Serviced Companion Loan, at least 5 calendar days prior to the effective
date of such succession or appointment as long as such disclosure prior to such effective date would not be violative of any
applicable law or confidentiality agreement, otherwise immediately following such effective date, but in no event later than
the time required pursuant to Section 10.09, (x) written notice to the Depositor, and to the Other Depositor
related to any Other Securitization that includes a Serviced Companion Loan, of such succession or appointment, (y) in
writing and in form and substance reasonably satisfactory to the Depositor, and to the Other Depositor related to any Other
Securitization that includes a Serviced Companion Loan, all information reasonably requested by the Depositor, or such Other
Depositor, so that it may comply with its reporting obligation under Items 1.01 and 6.02 of Form 8-K with respect to any
Class of Certificates or Serviced Companion Loan Securities and (z) such opinion(s) of counsel, certifications and/or
indemnification agreement(s) with respect to such information that are substantially similar to those delivered by
the Trustee or their respective counsel, in connection with the information concerning such party in the Prospectus and/or
any other disclosure materials relating to this Trust.

 

Section 10.05   Filing
Obligations. (a) Each of the Master Servicer, the Special Servicer, the Operating Advisor, the Certificate
Administrator and the Trustee shall, and each of the Master Servicer, the Special Servicer, the Operating Advisor, the
Certificate Administrator and the Trustee, as applicable, shall use commercially reasonable efforts to cause each Servicing
Function Participant (other than (x) any party to this Agreement or (y) a Mortgage Loan Seller Sub-Servicer) with
which it has entered into a servicing relationship with respect to the Mortgage Loans (other than a Non-Serviced Mortgage
Loan) to, reasonably cooperate with the Certificate Administrator and the Depositor (and any Other Trustee or Other Depositor
related to any Other Securitization that includes a Serviced Companion Loan) in connection with the Certificate
Administrator’s and Depositor’s (or such Other Trustee’s or Other Depositor’s) good faith efforts to
satisfy the Trust’s (or such Other Securitization’s) reporting requirements under the Exchange Act.

 

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(b)        It
is hereby acknowledged that the Mortgaged Property related to the Prudential Plaza Mortgage Loan is a Significant Obligor, and,
accordingly, Item 6 of Form 10-D and Item 1112(b)(1) of Form 10-K provide for the inclusion of updated net operating income for
the Mortgaged Property, as required by Item 1112(b)(1) of Regulation AB, (i) on the related Form 10-D to be filed by the Trust
(on a quarterly basis) on or before the related Significant Obligor NOI Quarterly Filing Deadline or (ii) on each Form 10-K filed
by the Trust, as applicable. The parties hereto acknowledge that the date on which financial statements are required to be delivered
to the related lender under the related Loan Documents is 30 days following the end of each fiscal quarter or 75 days following
the end of each fiscal year, as applicable, as set forth in Section 9.1(f)(ii) of the related Loan Agreement. With respect to
the Significant Obligor, to the extent that the Master Servicer is in receipt of the updated financial statements of the Significant
Obligor for any calendar quarter (other than the fourth calendar quarter of any calendar year), beginning for the calendar quarter
ending March 30, 2016, or the updated financial statements of the Significant Obligor for any calendar year, beginning for the
calendar year ending December 31, 2015, as applicable, from the related Borrower or from the Special Servicer, as applicable,
the Master Servicer shall deliver to the Certificate Administrator, on or prior to the day that occurs two (2) Business Days prior
to the related Significant Obligor NOI Quarterly Filing Deadline or seven (7) Business Days prior to the related Significant Obligor
NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior
to the related Significant Obligor NOI Quarterly Filing Deadline or seventeen (17) or more Business Days prior to the related
Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of the Significant Obligor, together
with the net operating income of such Significant Obligor for the applicable period as calculated by the Master Servicer in accordance
with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the
related Significant Obligor NOI Quarterly Filing Deadline or less than seventeen (17) Business Days prior to the related Significant
Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of the Significant Obligor, together with the net
operating income of such Significant Obligor for the applicable period as reported by the related Borrower in such financial statements.

 

In
the event that the Master Servicer does not receive financial information satisfactory for the Depositor to comply with Item 6
of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, regarding the Significant Obligor with respect to the Prudential
Plaza Mortgage Loan within ten (10) Business Days after the date such financial information is required to be delivered under
the related Loan Documents, the Master Servicer shall notify the Depositor that it has not received them. The Master Servicer
shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations
of the Depositor under the Exchange Act) to obtain from the related Borrower the periodic financial statements of such Borrower
under the related Loan Documents.

 

The
Master Servicer shall retain written evidence of each instance in which it attempts to contact the related Borrower of the Prudential
Plaza Mortgage Loan to obtain the required financial information and is unsuccessful and, within five (5) Business Days prior
to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s
Certificate evidencing its attempts to obtain this information to

 

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the Certificate Administrator and the Depositor. This Officer’s
Certificate should be addressed to the Certificate Administrator at its Corporate Trust Office.

 

If
the Certificate Administrator has not received financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1)
of Form 10-K, as the case may be, it shall include the following statement (to the extent such statement is accurate) with respect
to Item 6 on the related Form 10-D or Item 1112(b)(1) on the related Form 10-K: “The information required for this [Item
6] [Item 1112(b)(1)] rests with a person or entity which is not affiliated with the registrant. Oral and written requests have
been made on behalf of the registrant, to the extent required under the related pooling and servicing agreement, to obtain the
information required for this [Item 6] [Item 1112(b)(1)], and the registrant has been unable to obtain such information to include
on this [Form 10-D] [Form 10-K] by the related filing deadline. The information is therefore being omitted herefrom in reliance
on Rule 12b-21 under the Securities Exchange Act of 1934, as amended” or such other statement as directed by the Depositor.

 

(c)        With
respect to any Mortgaged Property that secures a Serviced Companion Loan that the Other Depositor has notified the Master Servicer
in writing is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) with respect to an Other
Securitization that includes such Serviced Companion Loan, solely to the extent that the Master Servicer is in receipt of the
updated financial statements of such “significant obligor” for any calendar quarter (other than the fourth calendar
quarter of any calendar year), beginning with the first calendar quarter following receipt of such notice from the Other Depositor,
or the updated financial statements of such “significant obligor” for any calendar year, beginning for the calendar
year following such notice from the Other Depositor, as applicable, the Master Servicer shall deliver to the Other Depositor and
Other Trustee, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly
Filing Deadline or seven (7) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable,
(A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI
Quarterly Filing Deadline or seventeen (17) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline,
as applicable, such financial statements of such “significant obligor”, together with the net operating income of
such “significant obligor” for the applicable period as calculated by the Master Servicer in accordance with CREFC®
guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant
Obligor NOI Quarterly Filing Deadline or less than seventeen (17) Business Days prior to the related Significant Obligor NOI Yearly
Filing Deadline, as applicable, such financial statements of such “significant obligor”, together with the net operating
income of such “significant obligor” for the applicable period as reported by the related Mortgagor in such financial
statement.

 

If
the Master Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1)
of Form 10-K, as the case may be, of such “significant obligor” within ten Business Days after the date such financial
information is required to be delivered under the related Loan Documents, the Master Servicer shall notify the Other Depositor
with respect to such Other Securitization that includes the related Serviced Companion Loan (or the Master Servicer shall cause
a Sub-Servicer to notify such Other

 

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Depositor) that it has not received them. The Master Servicer shall use efforts consistent
with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of such Other Depositor under
the Exchange Act) to obtain the periodic financial statements of the related Borrower under the related Loan Documents.

 

The
Master Servicer shall (or shall cause a Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer)
attempts to contact the borrower related to such “significant obligor” to obtain the required financial information
and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is
required to be filed by the Other Securitization, shall forward an Officer’s Certificate evidencing its attempts to obtain
this information to the certificate administrator and Other Depositor related to such Other Securitization. This Officer’s
Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other
Pooling and Servicing Agreement.

 

Section 10.06   Form
10-D Filings. Within 15 days after each Distribution Date (subject to permitted extensions under the Exchange
Act), the Certificate Administrator shall prepare and file on behalf of the Trust any Form 10-D required by the Exchange Act
and the rules and regulations of the Commission thereunder, in form and substance as required by the Exchange Act and such
rules and regulations. A duly authorized representative of the Depositor shall sign each Form 10-D filed on behalf of the
Trust. The Certificate Administrator shall file each Form 10-D with a copy of the related Distribution Date Statement
attached thereto; provided that the Certificate Administrator shall redact from such Distribution Date Statement any
information relating to the ratings of the Certificates and the identity of the Rating Agencies. Any disclosure in addition
to the Distribution Date Statement that is required to be included on Form 10-D (“Additional Form 10-D
Disclosure”) shall, pursuant to the paragraph immediately below, be reported by the parties set forth on Schedule
IV and directed to the Certificate Administrator and the Depositor for approval by the Depositor. The Certificate
Administrator will have no duty or liability for any failure hereunder to determine or prepare any Additional Form 10-D
Disclosure (other than such Additional Form 10-D Disclosure which is to be reported by it as set forth on Schedule IV)
absent such reporting, direction and approval after the date hereof. The Certificate Administrator shall include in any Form
10-D filed by it, without limitation, to the extent such information is provided to the Certificate Administrator by the
Depositor for inclusion therein, (i) the information required by Rule 15Ga-1(a) under the Exchange Act
concerning all assets of the Trust that were subject of a demand to repurchase or replace for breach of the representations
and warranties and (ii) a reference to the most recent Form ABS-15G filed by the Depositor and each Seller, if
applicable, and the Commission assigned “Central Index Key” number for each such filer. The Certificate
Administrator and the Depositor shall be entitled together to determine the manner of the presentation of such information
(including the dates as of which such information is presented) in accordance with applicable laws and regulations.

 

For
so long as the Trust is subject to the reporting requirements of the Exchange Act and for so long as any Other Securitization
that includes a Serviced Companion Loan is subject to the reporting requirements of the Exchange Act, within five calendar days
after the related Distribution Date, (i) the parties listed on Schedule IV hereto shall be required to provide to
the Certificate Administrator and the Depositor (and in the case of any Servicing

 

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Function Participant with a copy to the Master
Servicer) (and to any Other Trustee or Other Depositor related to any Other Securitization that includes a Serviced Companion
Loan), to the extent a Servicing Officer or Responsible Officer, as the case may be, thereof has actual knowledge (other than
Item 1117 of Regulation AB as to such party which shall be reported if actually known by any Servicing Officer or Responsible
Officer, as the case may be or any lawyer in the in house legal department of such party), in EDGAR Compatible Format, or in such
other format as otherwise agreed upon by the Certificate Administrator and the Depositor (or such Other Trustee and Other Depositor)
and such party, the form and substance of the Additional Form 10-D Disclosure described on Schedule IV applicable to such
party, (ii) the parties listed on Schedule IV hereto shall include with such Additional Form 10-D Disclosure, an Additional
Disclosure Notification in the form attached hereto as Exhibit Z and (iii) the Certificate Administrator shall,
at any time prior to filing the related Form 10-D, provide prompt notice to the Depositor to the extent that the Certificate Administrator
is notified of an event reportable on Form 10-D for which it has not received the necessary Additional Form 10-D Disclosure from
the applicable party. No later than the 7th calendar day after the Distribution Date, the Depositor will approve, as to form and
substance, or disapprove, as the case may be, the inclusion of the Additional Form 10-D Disclosure on Form 10-D; provided
that if the Certificate Administrator does not receive a response from the Depositor by such time the Depositor will be deemed
to have consented to the inclusion of such Additional Form 10-D Disclosure. Other than to the extent provided for in clause (iii)
above, the Certificate Administrator has no duty under this Agreement to monitor or enforce the performance by the parties listed
on Schedule IV of their duties under this paragraph or proactively solicit or procure from such parties any Additional
Form 10-D Disclosure information. The Depositor will be responsible for any reasonable fees assessed and any expenses incurred
by the Certificate Administrator in connection with including any Additional Form 10-D Disclosure on Form 10-D pursuant to this
paragraph.

 

After
preparing the Form 10-D, the Certificate Administrator shall forward electronically a copy of the Form 10-D to the Depositor for
review and approval; provided that the Certificate Administrator shall use its reasonable best efforts to provide such copy to
the Depositor by the 8th day after the Distribution Date. No later than the end of business on the 4th Business Day prior to the
filing date, the Depositor shall notify the Certificate Administrator in writing (which may be furnished electronically) of any
changes to or approval of such Form 10-D, and no later than the 2nd Business Day prior to the filing, a duly authorized representative
of the Depositor shall sign the Form 10-D and return an electronic or fax copy of such signed Form 10-D (with an original executed
hard copy to follow by overnight mail) to the Certificate Administrator. The Certificate Administrator shall file such Form 10-D,
upon signature thereof as provided in Section 10.16, not later than (i) 5:30 p.m. (New York City time) on the 15th
calendar day after the related Distribution Date or (ii) if agreed to prior to the time set forth in clause (i) above,
such other time as the Depositor and the Certificate Administrator mutually agree is permitted by the Commission for the filing
such Form 10-D. If a Form 10-D cannot be filed on time or if a previously filed Form 10-D needs to be amended, the Certificate
Administrator shall follow the procedures set forth in Section 10.10(b). After filing with the Commission, the Certificate
Administrator shall, pursuant to Section 4.02(b), make available on the Certificate Administrator’s website a final
executed copy of each Form 10-D prepared and filed by the Certificate Administrator. The parties to this Agreement acknowledge
that the performance by the Certificate Administrator of

 

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its duties under this Section 10.06 related to the timely
preparation and filing of Form 10-D is contingent upon such parties (and any Additional Servicer or Servicing Function Participant)
observing all applicable deadlines in the performance of their duties under this Section 10.06. The Certificate Administrator
shall have no liability for any loss, expense, damage, claim arising out of or with respect to any failure to properly prepare
or file such Form 10-D where such failure results from the Certificate Administrator’s inability or failure to receive on
a timely basis any information from any other party hereto needed to prepare, arrange for execution or file such Form 10-D, not
resulting from its own negligence, bad faith or willful misconduct.

 

Form 10-D requires the
registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all reports required to
be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.”
The Depositor hereby represents to the Certificate Administrator that the Depositor has filed all such required reports during
the preceding 12 months and that it has been subject to such filing requirement for the past 90 days. The Depositor shall
notify the Certificate Administrator in writing, no later than the 5th calendar day after the related Distribution Date during
any year in which the Trust is required to file a Form 10-D if the answer to the questions should be “no”; provided
that if the failure of the Depositor to have filed such required reports arises in connection with the securitization contemplated
by this Agreement, the Certificate Administrator shall be deemed to have notice of such failure (only with respect to Exchange
Act reports prepared or required to be prepared and filed by the Certificate Administrator) without being notified by the Depositor;
provided, further, that in connection with the delivery of any notice contemplated by this sentence, the Depositor
may instruct the Certificate Administrator that such notice shall be effective for a period (not to exceed 12 months) from the
date of such notice, in which case no further notice from the Depositor shall be required during such specified period. The Certificate
Administrator shall be entitled to rely on such representations in preparing, executing and/or filing any Form 10-D.

 

Section 10.07     Form
10-K Filings. Within 90 days after the end of each fiscal year of the Trust or such earlier date as may be required
by the Exchange Act (the “10-K Filing Deadline”) (it being understood that the fiscal year for the Trust
ends on December 31st of each year), commencing with fiscal year 2015, the Certificate Administrator shall prepare and
file on behalf of the Trust a Form 10-K, in form and substance as required by the Exchange Act. Each such Form 10-K shall
include the following items, in each case to the extent they have been delivered to the Certificate Administrator within the
applicable time frames set forth in this Agreement:

 

(i)         an
annual compliance statement for each applicable Certifying Servicer, as described under Section 10.11;

 

(ii)        (A) the
annual reports on assessment of compliance with servicing criteria for each applicable Reporting Servicer, as described under Section 10.12,
and (B) if any Reporting Servicer’s report on assessment of compliance with servicing criteria described under Section 10.12
identifies any material instance of noncompliance, disclosure identifying such instance of noncompliance, or if any Reporting Servicer’s
report on assessment of compliance with servicing criteria described under

 

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Section 10.12 is not included as an exhibit to
such Form 10-K, disclosure that such report is not included and an explanation as to why such report is not included;

 

(iii)       (A) the
registered public accounting firm attestation report for each Reporting Servicer, as described under Section 10.13, and (B) if
any registered public accounting firm attestation report described under Section 10.13 identifies any material instance of
noncompliance, disclosure identifying such instance of noncompliance, or if any such registered public accounting firm attestation
report is not included as an exhibit to such Form 10-K, disclosure that such report is not included and an explanation as to why
such report is not included; and

 

(iv)      a
Sarbanes-Oxley Certification as described in Section 10.08.

 

Any disclosure or information
in addition to (i) through (iv) above that is required to be included on Form 10-K (“Additional Form 10-K Disclosure”)
shall, pursuant to the paragraph immediately below, be reported by the parties set forth on Schedule V hereto to the Depositor
and the Certificate Administrator (and to any Other Depositor or Other Trustee related to any Other Securitization that includes
a Serviced Companion Loan) and approved by the Depositor (and such Other Depositor), and the Certificate Administrator (or such
Other Trustee) will have no duty or liability for any failure hereunder to determine or prepare any Additional Form 10-K Disclosure
(other than such Additional Form 10-K Disclosure which is to be reported by it as set forth on Schedule V) absent such reporting
and approval.

 

Not later than 10 Business
Days after the end of each fiscal year for which the Trust (or any Other Securitization that includes a Serviced Companion Loan)
is required to file a Form 10-K, the Master Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator
and the Trustee shall provide the other parties to this Agreement and the Mortgage Loan Sellers (and the parties to any Other Pooling
and Servicing Agreement with respect to any Other Securitization that includes such Serviced Companion Loan) with written notice
of the name and address of each Servicing Function Participant retained by such party. Not later than the end of each year for
which the Trust is required to file a Form 10-K, (i) the Certificate Administrator shall upon request provide to each Mortgage
Loan Seller, Other Depositor and Other Trustee written notice of any change in the identity of any party to this Agreement, including
the name and address of any new party to this Agreement and (ii) the Master Servicer or the Special Servicer, as applicable,
shall provide to each related Mortgage Loan Seller written notice of any change in the identity of any Sub-Servicer that is a Servicing
Function Participant or an Additional Servicer engaged by the Master Servicer or the Special Servicer, as applicable, including
the name and address of any new Sub-Servicer that is a Servicing Function Participant or an Additional Servicer.

 

With respect to any Other
Securitization that includes a Serviced Companion Loan, not later than the end of each year for which the Other Securitization
trust is required to file a Form 10-K, (i) the Certificate Administrator shall upon request provide to each mortgage loan
seller with respect to such Other Securitization written notice of any change in the identity of any party to this Agreement, including
the name and address of any new party to this Agreement and (ii) the Master Servicer or the Special Servicer, as applicable,
shall provide to each such mortgage loan seller written notice of any change in the identity of any Sub-Servicer

 

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that is a Servicing
Function Participant or an Additional Servicer engaged by the Master Servicer or the Special Servicer for the servicing of such
Serviced Loan Combination, as applicable, including the name and address of any new Sub-Servicer that is a Servicing Function Participant
or an Additional Servicer.

 

For so long as the Trust
(or any Other Securitization that includes a Serviced Companion Loan) is subject to the reporting requirements of the Exchange
Act, by March 10th (with a grace period through March 15th), commencing in March 2016 (i) the parties listed
on Schedule V hereto shall be required to provide to the Certificate Administrator and the Depositor (and in the case of
any Servicing Function Participant with a copy to the Master Servicer) (and to any Other Depositor or Other Trustee related to
any Other Securitization that includes a Serviced Companion Loan), to the extent a Servicing Officer or a Responsible Officer,
as the case may be, thereof has actual knowledge (other than with respect to Items 1117 and 1119 of Regulation AB as to such party
which shall be reported if actually known by any Servicing Officer or any lawyer in the in house legal department of such party),
in EDGAR Compatible Format (to the extent available to such party in such format), or in such other form as otherwise agreed upon
by the Certificate Administrator and the Depositor (or such Other Trustee and Other Depositor) and such party, the form and substance
of the Additional Form 10-K Disclosure described on Schedule V applicable to such party, (ii) include with such Additional
Form 10-K Disclosure, an Additional Disclosure Notification in the form attached hereto as Exhibit Z and (iii) the
Certificate Administrator shall, at any time prior to filing the related Form 10-K, provide prompt notice to the Depositor to the
extent that the Certificate Administrator is notified of an event reportable on Form 10-K for which it has not received the necessary
Additional Form 10-K Disclosure from the applicable party. No later than March 15th, the Depositor will approve, as to form
and substance, or disapprove, as the case may be, the inclusion of the Additional Form 10-K Disclosure on Form 10-K; provided
that if the Certificate Administrator does not receive a response from the Depositor by such time the Depositor will be deemed
to have consented to the inclusion of such Additional Form 10-K Disclosure. Other than to the extent provided for in clause (iii)
above, the Certificate Administrator has no duty under this Agreement to monitor or enforce the performance by the parties listed
on Schedule V of their duties under this paragraph or proactively solicit or procure from such parties any Additional Form
10-K Disclosure information. The Depositor will be responsible for any reasonable fees assessed and any expenses incurred by the
Certificate Administrator in connection with including any Additional Form 10-K Disclosure on Form 10-K pursuant to this paragraph.

 

After preparing the Form
10-K, on or prior to the 6th Business Day prior to the 10-K Filing Deadline, the Certificate Administrator shall forward electronically
a copy of the Form 10-K to the Depositor for review and approval. Within three Business Days after receipt of such copy, but no
later than March 24th, the Depositor shall notify the Certificate Administrator in writing (which may be furnished electronically)
of any changes to or approved of such Form 10-K. No later than 5:00 p.m., New York City time, on the 4th Business Day prior
to the 10-K Filing Deadline, a senior officer in charge of securitization of the Depositor shall sign the Form 10-K and return
an electronic or fax copy of such signed Form 10-K (with an original executed hard copy to follow by overnight mail) to the Certificate
Administrator. The Certificate Administrator shall file such Form 10-K, upon signature thereof as provided in Section 10.16,
not later than (i) 5:30 p.m. (New York City time) on the 10-K Filing Deadline

 

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or (ii) such other time as the Depositor
and the Certificate Administrator mutually agree is permitted by the Commission for the filing such Form 10-K, of each year in
which a report on Form 10-K is required to be filed by the Trust. If a Form 10-K cannot be filed on time or if a previously filed
Form 10-K needs to be amended, the Certificate Administrator will follow the procedures set forth in Section 10.10(b). After
filing with the Commission, the Certificate Administrator shall, pursuant to Section 4.02(b), make available on its internet
website a final executed copy of each Form 10-K prepared and filed by the Certificate Administrator. The parties to this Agreement
acknowledge that the performance by the Certificate Administrator of its duties under this Section 10.07 related to the timely
preparation and filing of Form 10-K is contingent upon such parties (and any Additional Servicer or Servicing Function Participant)
observing all applicable deadlines in the performance of their duties under this Article X. The Certificate Administrator
shall have no liability with respect to any failure to properly prepare or file such Form 10-K resulting from the Certificate Administrator’s
inability or failure to receive from any other party any information needed to prepare, arrange for execution or file such Form
10-K on a timely basis, not resulting from its own negligence, bad faith or willful misconduct.

 

Form 10-K requires the
registrant to indicate (by checking “yes” or “no”) that it “(1) has filed all reports required to
be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.”
The Depositor hereby represents to the Certificate Administrator that the Depositor has filed all such required reports during
the preceding 12 months and that it has been subject to such filing requirement for the past 90 days. The Depositor shall
notify the Certificate Administrator in writing, no later than the 15th calendar day of March during any year in which the
Trust is required to file a Form 10-K if the answer to the questions should be “no”; provided that if the failure
of the Depositor to have filed such required reports arises in connection with the securitization contemplated by this Agreement,
the Certificate Administrator shall be deemed to have notice of such failure (only with respect to Exchange Act reports prepared
or required to be prepared and filed by the Certificate Administrator) without being notified by the Depositor; provided,
further, that in connection with the delivery of any notice contemplated by this sentence, the Depositor may instruct the
Certificate Administrator that such notice shall be effective for a period (not to exceed 12 months) from the date of such notice,
in which case no further notice from the Depositor shall be required during such specified period. The Certificate Administrator
shall be entitled to rely on such representations in preparing, executing and/or filing any Form 10-K.

 

Section 10.08     Sarbanes-Oxley
Certification. Each Form 10-K shall include a certification (the “Sarbanes-Oxley Certification”), as
set forth in Exhibit Y attached hereto, required to be included therewith pursuant to the Sarbanes-Oxley Act.
Each Reporting Servicer shall, and each Reporting Servicer shall use commercially reasonable efforts to cause each Servicing
Function Participant (other than (x) any party to this Agreement or (y) a Mortgage Loan Seller Sub-Servicer) with
which it has entered into a servicing relationship with respect to the Mortgage Loans (other than a Non-Serviced Mortgage
Loan), to provide to the Person who signs the Sarbanes-Oxley Certification for the Trust or any Other Securitization that
includes a Serviced Companion Loan (the “Certifying Person”), by March 10th (with a grace period
through March 15th) of each year in which the Trust is subject to the reporting

 

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requirements of the Exchange Act and of
each year in which any Other Securitization that includes a Serviced Companion Loan is subject to the reporting requirements
of the Exchange Act, a certification (each, a “Performance Certification”), in the form attached hereto as Exhibit O, Exhibit P, Exhibit Q, Exhibit R, Exhibit S, Exhibit AA
or Exhibit BB, as applicable, upon which the Certifying Person, the entity for which the Certifying Person acts
as an officer, and such entity’s officers, directors and Affiliates (collectively with the Certifying Person,
“Certification Parties”) can reasonably rely. The senior officer in charge of securitization of the
Depositor shall serve as the Certifying Person on behalf of the Trust. The Certifying Person at the Depositor can be
contacted at Deutsche Mortgage & Asset Receiving Corporation at 60 Wall Street, New York, New York 10005, Attention:
Lainie Kaye, with a copy to Salvatore Palazzolo, Esq. If any Reporting Servicer is terminated or resigns pursuant to the
terms of this Agreement, or any applicable Sub-Servicing Agreement, such Reporting Servicer shall provide a
Performance Certification to the Certifying Person pursuant to this Section 10.08 with respect to the period of time it
was subject to this Agreement or the applicable Sub-Servicing Agreement. Notwithstanding the foregoing, the Trustee shall not
be required to deliver a Performance Certification with respect to any period during which there was no Relevant Servicing
Criteria applicable to it.

 

Notwithstanding the foregoing,
nothing in this Section 10.08 shall require any Reporting Servicer (i) to certify or verify the accurateness or completeness
of any information provided to such Reporting Servicer by third parties (other than a Sub-Servicer, Additional Servicer or any
other third party retained by it that is not a Sub-Servicer listed on Exhibit T or a Sub-Servicer appointed pursuant
to Section 3.01(c)), (ii) to certify information other than to such Reporting Servicer’s knowledge and in accordance
with such Reporting Servicer’s responsibilities hereunder or (iii) with respect to completeness of information and reports,
to certify anything other than that all fields of information called for in written reports prepared by such Reporting Servicer
have been completed except as they have been left blank on their face.

 

Each Performance Certification
shall include a reasonable reliance provision enabling the Certification Parties to rely upon each (i) annual compliance statement
provided pursuant to Section 10.11, (ii) annual report on assessment of compliance with servicing criteria provided pursuant
to Section 10.12 and (iii) registered public accounting firm attestation report provided pursuant to Section 10.13.

 

For so long as the Trust
is subject to the reporting obligations of the Exchange Act, with respect to any Non-Serviced Mortgage Loan serviced under an Other
Pooling and Servicing Agreement, the Certificate Administrator shall use commercially reasonable efforts to procure a Sarbanes-Oxley
back-up certification from the Non-Serviced Mortgage Loan Service Providers, in form and substance similar to a Performance Certification
or to the form, if any, provided in the Other Pooling and Servicing Agreement. The Master Servicer shall promptly forward to the
Certificate Administrator and the Depositor any such Sarbanes-Oxley back-up certification received by the Master Servicer.

 

Section 10.09     Form
8-K Filings. Within four (4) Business Days after the occurrence of an event requiring disclosure (the “8-K
Filing Deadline”) under Form 8-K (each a “Reportable Event”), to the extent it receives the Form
8-K Disclosure Information described below, the Certificate Administrator shall, at the direction of the Depositor, prepare
and file on

 

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behalf of the Trust any Form 8-K, as required by the Exchange Act, provided that the Depositor shall file
the initial Form 8-K in connection with the issuance of the Certificates. Any disclosure or information related to a
Reportable Event or that is otherwise required to be included on Form 8-K (“Form 8-K Disclosure
Information”) shall, pursuant to the paragraph immediately below, be reported by the parties set forth on Schedule
VI to which such Reportable Event relates and such Form 8-K Disclosure Information shall be delivered to the Depositor
and the Certificate Administrator (and to any Other Depositor and Other Trustee related to any Other Securitization that
includes a Serviced Companion Loan) in EDGAR Compatible Format and approved by the Depositor. The Certificate Administrator
will have no duty or liability for any failure hereunder to determine or prepare any Form 8-K Disclosure Information (other
than such Form 8-K Disclosure Information which is to be reported by it as set forth on Schedule VI) absent such
reporting and approval.

 

For so long as the Trust
(or any Other Securitization that includes a Serviced Companion Loan) is subject to the reporting requirements of the Exchange
Act, the parties listed on Schedule VI hereto shall, to the extent a Servicing Officer or a Responsible Officer, as
the case may be, thereof has actual knowledge, use their commercially reasonable efforts to provide to the Depositor and the Certificate
Administrator (and to any Other Depositor and Other Trustee related to any Other Securitization that includes a Serviced Companion
Loan) within 1 Business Day after the occurrence of the Reportable Event, but shall provide in no event later than the end of business
(New York City time) on the 2nd Business Day after the occurrence of the Reportable Event, the form and substance of the Form 8-K
Disclosure Information described on Schedule VI as applicable to such party, in EDGAR Compatible Format, or in such other
format as otherwise agreed to in advance by the Certificate Administrator and the Depositor (and such Other Trustee and Other Depositor)
and such party and accompanied by an Additional Disclosure Notification in the form attached hereto as Exhibit Z. The
Depositor will approve, as to form and substance, or disapprove, as the case may be, the inclusion of the Form 8-K Disclosure Information
on Form 8-K by the end of business on the 2nd Business Day after the Reportable Event; provided that if the Certificate
Administrator does not receive a response from the Depositor by such time as required under this Agreement the Depositor will be
deemed to have consented to such Form 8-K Disclosure Information. The Certificate Administrator has no duty under this Agreement
to monitor or enforce the performance by the parties listed on Schedule VI of their duties under this paragraph or proactively
solicit or procure from such parties any Form 8-K Disclosure Information; provided that to the extent that the Certificate
Administrator is notified of such Reportable Event and it does not receive the necessary Form 8–K Disclosure Information,
it shall notify the Depositor that it has not received such information and, provided, further, that the limitation
on liability provided by this sentence shall not be applicable if the Reportable Event relates to the Certificate Administrator
or any party that the Certificate Administrator has engaged to perform its obligations under this Agreement. The Depositor will
be responsible for any reasonable fees assessed and any expenses incurred by the Certificate Administrator in connection with including
any Form 8-K Disclosure Information on Form 8-K pursuant to this paragraph.

 

After preparing the Form
8-K, the Certificate Administrator shall, no later than the end of the Business Day (New York City time) on the 3rd Business Day
after the Reportable Event, forward electronically a copy of the Form 8-K to the Depositor for review

 

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and approval and the Depositor
shall promptly notify the Certificate Administrator in writing (which may be furnished electronically) of any changes to the Form
8-K. No later than noon on the 4th Business Day (New York City time) after the Reportable Event, a duly authorized representative
of the Depositor shall sign the Form 8-K and return an electronic or fax copy of such signed Form 8-K (with an original executed
hard copy to follow by overnight mail) to the Certificate Administrator. The Certificate Administrator shall file such Form 8-K,
upon signature thereof as provided in Section 10.16, not later than (i) 5:30 p.m. (New York City time) on the 4th
Business Day following the reportable event or (ii) such other time as the Depositor and the Certificate Administrator mutually
agree is permitted by the Commission for the filing such Form 8-K. If a Form 8-K cannot be filed on time or if a previously filed
Form 8-K needs to be amended, the Certificate Administrator will follow the procedures set forth in Section 10.10(b). After
filing with the Commission, the Certificate Administrator will, pursuant to Section 4.02(b), make available on its internet
website a final executed copy of each Form 8-K prepared and filed by the Certificate Administrator. The parties to this Agreement
acknowledge that the performance by the Certificate Administrator of its duties under this Section 10.09 related to the timely
preparation and filing of Form 8-K is contingent upon such parties observing all applicable deadlines in the performance of their
duties under this Section 10.09. The Certificate Administrator shall have no liability for any loss, expense, damage, claim
arising out of or with respect to any failure to properly prepare, arrange for execution and/or timely file such Form 8-K, where
such failure results from the Certificate Administrator’s inability or failure to receive approved Form 8-K Disclosure Information
within the applicable timeframes set forth in this Section 10.09 and not resulting from the Certificate Administrator’s
own negligence, bad faith or willful misconduct (provided that to the extent that the Certificate Administrator is notified of
such Reportable Event and it does not receive the necessary Form 8–K Disclosure Information, it will notify the Depositor
that it has not received such information and further provided that the limitation on liability provided by this sentence
shall not be applicable if the Reportable Event relates to the Certificate Administrator or any party that the Certificate Administrator
has engaged to perform its obligations under this Agreement).

 

Section 10.10     Suspension
of Exchange Act Filings; Incomplete Exchange Act Filings; Amendments to Exchange Act Reports. (a) If at any time the Trust
is permitted to suspend its reporting obligations under the Exchange Act, on or before January 30 of the first year in
which the Certificate Administrator is able to do so under applicable law, the Depositor shall direct the Certificate
Administrator to prepare and file any form necessary to be filed with the Commission to suspend such reporting obligations.
With respect to any reporting period occurring after the filing of such form, except with respect to the Other
Securitization, the obligations of the parties to this Agreement under Section 10.01, Section 10.03,
Section 10.06, Section 10.07, Section 10.08 and Section 10.09 shall be suspended. The Certificate
Administrator shall provide prompt notice to the Depositor, the Master Servicer, the Special Servicer, the Trustee, the
Operating Advisor and the Mortgage Loan Sellers that such form has been filed.

 

(b)          If
the Certificate Administrator is unable to timely file with the Commission all or any required portion of any Form 8-K, Form 10-D
or Form 10-K required to be filed by this Agreement because required disclosure information either was not delivered to it or was
delivered to it after the delivery deadlines set forth in this Agreement or for any

 

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other reason, the Certificate Administrator
shall promptly notify (which notice (which may be sent by fax or by email notwithstanding the provisions of Section 11.04)
shall include the identity of those Reporting Servicers who either did not deliver such information or delivered such information
to it after the delivery deadlines set forth in this Agreement) the Depositor and each Reporting Servicer that failed to make such
delivery. In the case of Form 10-D and Form 10-K, each such Reporting Servicer shall cooperate with the Depositor and the Certificate
Administrator to prepare and file a Form 12b-25 and a Form 10-D/A and Form 10-K/A as applicable, pursuant to Rule 12b-25 of
the Exchange Act. In the case of Form 8-K, the Certificate Administrator shall, upon receipt of all required Form 8-K Disclosure
Information and upon the approval and direction of the Depositor, include such disclosure information on the next Form 10-D that
is required to be filed on behalf of the Trust. In the event that any previously filed Form 8-K, Form 10-D or Form 10-K needs to
be amended, the Certificate Administrator shall notify the Depositor and such other parties as needed and such parties shall cooperate
to prepare any necessary Form 8-K/A, Form 10-D/A or Form 10-K/A. In the event that any Reporting Servicer receives notice from
the applicable parties to the Other Securitization that any previously filed Form 8-K, Form 10-D or Form 10-K needs to be amended,
such party shall cooperate in preparation of any necessary Form 8-K/A, Form 10-D/A or Form 10-K/A. Any Form 12b-25 or any amendment
to Form 8-K, Form 10-D or Form 10-K shall be signed by the Depositor. The parties to this agreement acknowledge that the performance
by the Certificate Administrator of its duties under this Section 10.10 related to the timely preparation and filing of a
Form 12b-25 or any amendment to Form 8-K, 10-D or 10-K is contingent upon the Master Servicer, the Special Servicer and the Depositor
performing their duties under this Section. The Certificate Administrator shall have no liability for any loss, expense, damage,
claim arising out of or with respect to any failure to properly prepare and/or timely file any such Form 12b-25 or any amendments
to Forms 8-K, Form 10-D or Form 10-K, where such failure results from the Certificate Administrator’s inability or failure
to receive, on a timely basis, any information from any other party hereto needed to prepare, arrange for execution or file such
Form 12b-25 or any amendments to Form 8-K, Form 10-D or Form 10-K, not resulting from its own negligence, bad faith or willful
misconduct.

 

Section 10.11     Annual
Compliance Statements. (a) The Master Servicer, the Special Servicer, the Custodian, the Certificate Administrator, any
Additional Servicer and each Servicing Function Participant (if such Servicing Function Participant is a servicer
contemplated by Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB) (each, a “Certifying
Servicer”) shall, and the Master Servicer, the Special Servicer, the Custodian and the Certificate Administrator
shall use commercially reasonable efforts to cause each Additional Servicer and each Servicing Function Participant (if such
Servicing Function Participant is a servicer contemplated by Item 1108(a)(2)(i), (ii) or (iii) of Regulation AB)
(other than (x) any party to this Agreement or (y) a Mortgage Loan Seller Sub-Servicer) with which it has entered
into a servicing relationship with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan), to deliver to the
Trustee, the Depositor, the Certificate Administrator, the Operating Advisor (in the case of the Special Servicer only), the
Other Trustee, the Other Depositor and the 17g-5 Information Provider (who shall promptly post such report to the 17g-5
Information Provider’s Website pursuant to Section 3.14(d) of this Agreement) on or before March 10th
(subject to a grace period through March 15th) of each year, commencing in 2016, an Officer’s Certificate stating,
as to the signer thereof, that (A) a review of such Certifying Servicer’s activities during the preceding calendar
year or portion thereof and of such Certifying

 

    	-400-

    	 

    

 

Servicer’s performance under this Agreement, or the applicable
sub-servicing agreement or primary servicing agreement in the case of an Additional Servicer, has been made under such
officer’s supervision and (B) that, to the best of such officer’s knowledge, based on such review, such
Certifying Servicer has fulfilled all its obligations under this Agreement, or the applicable sub-servicing agreement or
primary servicing agreement in the case of an Additional Servicer, in all material respects throughout such year or portion
thereof, or, if there has been a failure to fulfill any such obligation in any material respect, specifying each such failure
known to such officer and the nature and status thereof.

 

(b)          With
respect to any Non-Serviced Mortgage Loan serviced under an Other Pooling and Servicing Agreement, the Master Servicer shall use
commercially reasonable efforts to procure an Officer’s Certificate as described in this Section from the Non-Serviced
Mortgage Loan Service Providers in form and substance similar to the Officer’s Certificate described in this Section.

 

(c)          Promptly
after receipt of each such Officer’s Certificate, the Depositor (and each Other Depositor for any Other Securitization that
includes a Serviced Companion Loan) shall have the right to review such Officer’s Certificate and, if applicable, consult
with each Certifying Servicer, as applicable, as to the nature of any failures by such Certifying Servicer, in the fulfillment
of any of the Certifying Servicer’s obligations hereunder or under the applicable sub-servicing agreement. None of the Certifying
Servicers or any Additional Servicer or any Servicing Function Participant shall be required to deliver, or to endeavor to cause
the delivery of, any such Officer’s Certificate until April 15, in any given year so long as it has received written confirmation
from the Depositor that a Form 10-K is not required to be filed in respect of the Trust or any Other Securitization that includes
a Serviced Companion Loan for the preceding calendar year. If any Certifying Servicer is terminated or resigns pursuant to the
terms of this Agreement or any applicable Sub-Servicing Agreement, as the case may be, such Certifying Servicer shall provide the
Officer’s Certificate pursuant to this Section 10.11 with respect to the period of time it was subject to this Agreement
or the applicable Sub-Servicing Agreement, as the case may be.

 

Section 10.12     Annual
Reports on Assessment of Compliance with Servicing Criteria. By March 10th (subject to a grace period through March 15th)
of each year, commencing in March 2016, the Master Servicer, the Special Servicer (regardless of whether the Special Servicer
has commenced special servicing of any Mortgage Loan), the Certificate Administrator, the Custodian, the Trustee, the Operating
Advisor and each Servicing Function Participant (each, a “Reporting Servicer”), each at its own expense, shall
furnish (and each Reporting Servicer, as applicable, shall use commercially reasonable efforts to cause, by March 10th (subject
to a grace period through March 15th) each Servicing Function Participant (other than (x) a party to this Agreement
or (y) a Mortgage Loan Seller Sub-Servicer), with which it has entered into a servicing relationship with respect to the
Mortgage Loans (other than a Non-Serviced Mortgage Loan) to furnish, each at its own expense, to the Trustee, the Certificate
Administrator, the Depositor (and to the Other Depositor and Other Trustee for any Other Securitization that includes a Serviced
Companion Loan) and the 17g-5 Information Provider (who shall promptly post such report to the 17g-5 Information Provider’s
Website pursuant to Section 3.16(d) of this Agreement) a report on an assessment of compliance with the Relevant Servicing
Criteria with respect to commercial mortgage backed securities

 

    	-401-

    	 

    

 

transactions taken
as a whole involving such party that contains (A) a statement by such Reporting Servicer of its responsibility for
assessing compliance with the Relevant Servicing Criteria, (B) a statement that such Reporting Servicer used the
Servicing Criteria to assess compliance with the Relevant Servicing Criteria, (C) such Reporting Servicer’s
assessment of compliance with the Relevant Servicing Criteria as of and for the period ending the end of the fiscal year
covered by the Form 10-K required to be filed pursuant to Section 10.07, including, if there has been any material
instance of noncompliance with the Relevant Servicing Criteria, a discussion of each such failure and the nature and status
thereof, and (D) a statement that a registered public accounting firm has issued an attestation report on such Reporting
Servicer’s assessment of compliance with the Relevant Servicing Criteria as of and for such period. Copies of all
compliance reports delivered pursuant to this Section 10.12 shall be made available to any Privileged Person by the
Certificate Administrator pursuant to Section 4.02(c) of this Agreement and to any Rating Agency and NRSRO by the 17g-5 Information Provider
pursuant to Section 3.16(d) of this Agreement. Notwithstanding the foregoing, the Trustee shall not be required to deliver an assessment of
compliance with respect to any period during which there was no Relevant Servicing Criteria applicable to it.

 

No later than 10 Business
Days after the end of each fiscal year for the Trust (and any Other Securitization that includes a Serviced Companion Loan) for
which a Form 10-K is required to be filed, the Master Servicer, the Special Servicer and the Operating Advisor shall each forward
to the Certificate Administrator and the Depositor (and to the Other Depositor and Other Trustee for any Other Securitization that
includes a Serviced Companion Loan) the name and contact information of each Servicing Function Participant engaged by it during
such year or portion thereof (except with respect to any Mortgage Loan Seller Sub-Servicer) and what Relevant Servicing Criteria
will be addressed in the report on assessment of compliance prepared by such Servicing Function Participant. When the Master Servicer,
the Special Servicer, the Certificate Administrator, the Custodian, the Trustee, the Operating Advisor and each Servicing Function
Participant submit their respective assessments by March 10th (subject to a grace period through March 15th), as applicable,
to the Certificate Administrator (and such other trustee), each such party shall also at such time, if it has received the assessment
(and attestation pursuant to Section 10.13) of each Servicing Function Participant engaged by it, include such assessment
(and attestation) in its submission to the Certificate Administrator (and such other trustee).

 

Promptly after receipt
of each such report on assessment of compliance, (i) the Depositor (and any Other Depositor for any Other Securitization that
includes a Serviced Companion Loan) shall have the right to review each such report and, if applicable, consult with the Master
Servicer, the Special Servicer, the Certificate Administrator, the Custodian, the Trustee, the Operating Advisor and any Servicing
Function Participant as to the nature of any material instance of noncompliance with the Relevant Servicing Criteria by the Master
Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator, the Custodian, the Trustee or any Servicing
Function Participant, and (ii) the Certificate Administrator shall confirm that the assessments, taken individually, address
the Relevant Servicing Criteria for each party as set forth on Schedule II and notify the Depositor (and the Other Depositor for
any Other Securitization that includes a Serviced Companion Loan) of any exceptions; provided that the Certificate Administrator
shall not be responsible for confirming whether any such party has certified to all the Relevant Servicing Criteria applicable
to it. None of the Master

 

    	-402-

    	 

    

 

Servicer, the Special Servicer, the Certificate Administrator, the Custodian, the Trustee, the Operating
Advisor or any Servicing Function Participant shall be required to deliver, or to endeavor to cause the delivery of, any such reports
until April 15 in any given year so long as it has received written confirmation from the Depositor (and the Other Depositor
for any Other Securitization that includes a Serviced Companion Loan) that a Form 10-K is not required to be filed in respect of
the Trust (or, in the case of a Serviced Companion Loan, the related Other Securitization that includes such Serviced Companion
Loan) for the preceding calendar year. If any Reporting Servicer is terminated or resigns pursuant to the terms of this Agreement,
or any applicable Sub-Servicing Agreement, as the case may be, such Reporting Servicer shall provide the reports and statements
pursuant to this Section 10.12 with respect to the period of time it was subject to this Agreement or the applicable Sub-Servicing
Agreement, as the case may be.

 

The parties hereto acknowledge
that a material instance of noncompliance with the Relevant Servicing Criteria reported on an assessment of compliance pursuant
to this Section 10.12 by the Master Servicer or the Special Servicer, the Certificate Administrator, the Trustee, the Operating
Advisor or the Custodian shall not, as a result of being so reported, in and of itself, constitute a breach of such parties’
obligations or a Servicer Termination Event or Operating Advisor Termination Event, as applicable, under this Agreement unless
otherwise provided for in this Agreement.

 

For so long as the Trust
is subject to the reporting requirements of the Exchange Act, with respect to any Non-Serviced Mortgage Loan serviced under an
Other Pooling and Servicing Agreement, the Certificate Administrator shall use commercially reasonable efforts to procure an annual
report on assessment of compliance as described in this Section and an attestation as described in Section 10.13 from
the Non-Serviced Mortgage Loan Service Providers in form and substance similar to the annual report on assessment of compliance
described in this Section (or in such Other Pooling and Servicing Agreement, as the case may be) and the attestation described
in Section 10.13. The Master Servicer shall promptly forward to the Certificate Administrator and the Depositor any such assessment
of compliance received by the Master Servicer. Until such time as the Certificate Administrator receives notice that the Non-Serviced
Mortgage Loan Service Providers no longer have a continuing obligation under the Other Pooling and Servicing Agreement related
to an Other Securitization that includes the related Non-Serviced Companion Loan to provide to the Trust an annual report on assessment
of compliance as described in this Section and an attestation as described in Section 10.13 for any year that the Trust
formed under this Agreement is not subject to the reporting requirements of the Exchange Act, the Certificate Administrator shall
notify the Non-Serviced Mortgage Loan Service Providers if such parties fail to deliver to the Certificate Administrator such assessment
of compliance and attestation within the time frame required by such Other Pooling and Servicing Agreement.

 

Section 10.13     Annual
Independent Public Accountants’ Servicing Report. By March 10th (subject to a grace period through
March 15th), of each year, commencing in March 2016, each Reporting Servicer, each at its own expense, shall cause,
and each Reporting Servicer, as applicable, shall use commercially reasonable efforts to cause each Servicing Function
Participant (other than (x) a party to this Agreement or (y) a Mortgage Loan Seller Sub-Servicer) with which it has
entered into a servicing relationship with respect to the

 

    	-403-

    	 

    

 

Mortgage Loans (other than a Non-Serviced Mortgage Loan), each at
such Servicing Function Participant’s own expense, a registered public accounting firm (which may also render other
services to the Master Servicer, the Special Servicer, the Operating Advisor and such Servicing Function Participant, as the
case may be) and that is a member of the American Institute of Certified Public Accountants to furnish a report to the
Trustee, the Certificate Administrator, the Depositor (and to any Other Depositor and Other Trustee for any Other
Securitization that includes a Serviced Companion Loan), the Operating Advisor (in the case of the Special Servicer only) and
the 17g-5 Information Provider (who shall promptly post such report to the 17g-5 Information Provider’s Website
pursuant to Section 3.16(d) of this Agreement) to the effect that (i) it has obtained a representation regarding certain matters from
the management of such Reporting Servicer, which includes an assessment from such Reporting Servicer of its compliance with
the Relevant Servicing Criteria in all material respects, and (ii) on the basis of an examination conducted by such firm
in accordance with standards for attestation engagements issued or adopted by the PCAOB, it is expressing an opinion as to
whether such Reporting Servicer’s compliance with the Relevant Servicing Criteria was fairly stated in all
material respects, or it cannot express an overall opinion regarding such Reporting Servicer’s assessment of compliance
with the Relevant Servicing Criteria. If an overall opinion cannot be expressed, such registered public accounting firm shall
state in such report why it was unable to express such an opinion. Such report must be available for general use and not
contain restricted use language. Notwithstanding the foregoing, the Trustee shall not be required to deliver an annual
independent public accountants’ servicing report with respect to any period during which there was no Relevant
Servicing Criteria applicable to it.

 

Promptly after receipt
of such report from each Reporting Servicer, (i) the Depositor (and any Other Depositor related to an Other Securitization
that includes a Serviced Companion Loan) shall have the right to review the report and, if applicable, consult with the related
Reporting Servicer as to the nature of any material instance of noncompliance by such Reporting Servicer with the Servicing Criteria
applicable to such person, as the case may be, in the fulfillment of any of such Reporting Servicer’s obligations hereunder
or under any applicable sub-servicing agreement or primary servicing agreement, and (ii) the Certificate Administrator shall
confirm that each assessment submitted pursuant to Section 10.12 is coupled with an attestation meeting the requirements
of this Section and notify the Depositor (and any Other Depositor related to an Other Securitization that includes a Serviced
Companion Loan) of any exceptions; provided, that the Certificate Administrator shall not be responsible for confirming whether
any particular Reporting Servicer has certified to all of the Relevant Servicing Criteria applicable to it. No Reporting Servicer
shall be required to deliver, or to endeavor to cause the delivery of, such reports until April 15 in any given year so long as
it has received written confirmation from the Depositor that a Form 10-K is not required to be filed in respect of the Trust (or,
in the case of a Serviced Companion Loan, the related Other Securitization that includes such Serviced Companion Loan) for the
preceding calendar year. If any Reporting Servicer is terminated or resigns pursuant to the terms of this Agreement, or any applicable
Sub-Servicing Agreement or primary servicing agreement, as the case may be, such Reporting Servicer shall provide the report pursuant
to this Section 10.13 with respect to the period of time it was subject to this Agreement or the applicable Sub-Servicing
Agreement or primary servicing agreement, as the case may be.

 

    	-404-

    	 

    

 

Section 10.14     Exchange
Act Reporting Indemnification. Each of the Master Servicer, the Special Servicer, the Operating Advisor, the Custodian
(if not the Certificate Administrator), the Certificate Administrator and the Trustee shall indemnify and hold harmless each
Certification Party, the Depositor (and any Other Depositor related to an Other Securitization that includes a Serviced
Companion Loan), their respective directors and officers, and each other person who controls any such entity within the
meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, against any and all expenses,
losses, claims, damages and other liabilities, including without limitation the costs of investigation, legal defense and any
amounts paid in settlement of any claim or litigation arising out of (i) the failure to perform its obligations to the
Depositor (or any Other Depositor related to an Other Securitization that includes a Serviced Companion Loan) or Certificate
Administrator (or any Other Trustee related to an Other Securitization that includes a Serviced Companion Loan) under this
Article X by the time required after giving effect to any applicable grace period or cure period, (ii) any untrue
statement or alleged untrue statement of a material fact contained in any information (x) regarding such party or any
Servicing Function Participant, Additional Servicer or subcontractor engaged by it (other than any Mortgage Loan Seller
Sub-Servicer), (y) prepared by any such party described in clause (x) or any registered public accounting firm, attorney or
other agent retained by such party to prepare such information and (z) delivered by or on behalf of such party in connection
with the performance of such party’s obligations described in this Article X, or the omission or alleged omission to
state in any such information a material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; provided, that the applicable party shall be entitled to participate in any
action arising out of the foregoing and the Depositor shall consult with such party with respect to any litigation or audit
strategy, as applicable, in connection with the foregoing and any potential settlement terms related thereto, (iii) the
failure of any Servicing Function Participant or Additional Servicer retained by it (other than a Mortgage Loan Seller
Sub-Servicer) to perform its obligations to the Depositor (or any Other Depositor related to an Other Securitization
that includes a Serviced Companion Loan) or Certificate Administrator (or any Other Trustee related to an Other
Securitization that includes a Serviced Companion Loan) under this Article X by the time required after giving effect to
any applicable grace period and cure period or (iv) any Deficient Exchange Act Deliverable.

 

In addition, each of
the Master Servicer, the Special Servicer, the Operating Advisor, the Custodian, the Certificate Administrator and the Trustee
shall cooperate (and require each Servicing Function Participant and Additional Servicer retained by it to cooperate under the
applicable Sub-Servicing Agreement) with the Depositor as necessary for the Depositor to conduct any reasonable due diligence necessary
to evaluate and assess any material instances of non-compliance disclosed in any of the deliverables required by the applicable
reporting requirements under the Securities Act, the Exchange Act, the Sarbanes-Oxley Act and the rules and regulations promulgated
thereunder (“Reporting Requirements”).

 

In connection with comments
provided to the Depositor from the Commission regarding information (x) delivered by the Master Servicer, the Special Servicer,
the Operating Advisor, the Custodian, the Certificate Administrator, the Trustee, a Servicing Function Participant or an Additional
Servicer, as applicable (“Affected Reporting Party”), (y) regarding such Affected Reporting Party, and (z) prepared
by such Affected Reporting Party or any

 

    	-405-

    	 

    

 

registered public accounting firm, attorney or other agent retained by such party to prepare
such information, which information is contained in a report filed by the Depositor under the Reporting Requirements and which
comments are received subsequent to the Depositor’s filing of such report, the Depositor shall promptly provide to such Affected
Reporting Party any such comments which relate to such Affected Reporting Party. Such Affected Reporting Party shall be responsible
for timely preparing a written response to the Commission for inclusion in the Depositor’s response to the Commission, unless
such Affected Reporting Party elects, with the consent of the Depositor (which consent shall not be unreasonably denied, withheld
or delayed), to directly communicate with the Commission and negotiate a response and/or resolution with the Commission; provided,
if an Affected Reporting Party is a Servicing Function Participant or Additional Servicer retained by the Master Servicer, the
Master Servicer shall receive copies of all material communications pursuant to this paragraph. If such election is made, the applicable
Affected Reporting Party shall be responsible for directly negotiating such response and/or resolution with the Commission in a
timely manner; provided, that (i) such Affected Reporting Party shall use reasonable efforts to keep the Depositor informed of
its progress with the Commission and copy the Depositor on all correspondence with the Commission and provide the Depositor with
the opportunity to participate (at the Depositor’s expense) in any telephone conferences and meetings with the Commission
and (ii) the Depositor shall cooperate with any Affected Reporting Party in order to authorize such Affected Reporting Party and
its representatives to respond to and negotiate directly with the Commission with respect to any comments from the Commission relating
to such Affected Reporting Party and to notify the Commission of such authorization. The Depositor and the Affected Reporting Party
shall cooperate and coordinate with one another with respect to any requests made to the Commission for extension of time for submitting
a response or compliance. All respective reasonable out-of-pocket costs and expenses incurred by the Depositor (including reasonable
legal fees and expenses of outside counsel to the Depositor) in connection with the foregoing (other than those costs and expenses
required to be at the Depositor’s expense as set forth above) 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 the Depositor.
Each of the Master Servicer, the Special Servicer, the Operating Advisor, the Custodian, the Certificate Administrator and the
Trustee shall use commercially reasonable efforts to cause any Servicing Function Participant or Additional Servicer retained by
it to comply with the foregoing by inclusion of similar provisions in the related sub-servicing or similar agreement.

 

The Master Servicer,
the Special Servicer, the Operating Advisor, the Certificate Administrator and the Trustee shall use commercially reasonable efforts
to cause each Servicing Function Participant (other than (x) any party to this Agreement or (y) a Mortgage Loan Seller
Sub-Servicer) with which it has entered into a servicing relationship with respect to the Mortgage Loans (other than a Non-Serviced
Mortgage Loan) to indemnify and hold harmless each Certification Party from and against any losses, damages, penalties, fines,
forfeitures, legal fees and expenses and related costs, judgments and other costs and expenses incurred by such Certification Party
arising out of (i) a breach of its obligations to provide any of the annual compliance statements or annual assessment of servicing
criteria or attestation reports pursuant to this Agreement, or the applicable Sub-Servicing Agreement, as applicable or (ii) any
Deficient Exchange Act Deliverable.

 

    	-406-

    	 

    

 

If the indemnification
provided for herein is unavailable or insufficient to hold harmless any Certification Party, then the Master Servicer, the Special
Servicer, the Operating Advisor, the Certificate Administrator, the Trustee, each Additional Servicer or other Servicing Function
Participant (the “Performing Party”) shall, and the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator and the Trustee shall use commercially reasonable efforts to cause each Servicing Function Participant
with which it has entered into a servicing relationship (other than (x) a party to this Agreement or (y) any Mortgage
Loan Seller Sub-Servicer) with respect to the Mortgage Loans (other than a Non-Serviced Mortgage Loan) to contribute to the amount
paid or payable to the Certification Party as a result of the losses, claims, damages or liabilities of the Certification Party
in such proportion as is appropriate to reflect the relative fault of the Certification Party on the one hand and the Performing
Party on the other in connection with a breach of the Performing Party’s obligations pursuant to this Article X. The
Master Servicer, the Special Servicer, the Operating Advisor, the Certificate Administrator and the Trustee shall use commercially
reasonable efforts to cause each Servicing Function Participant (other than (x) any party to this Agreement or (y) Mortgage
Loan Seller Sub-Servicers) with which it has entered into a servicing relationship with respect to the Mortgage Loans (other than
a Non-Serviced Mortgage Loan) to agree to the foregoing indemnification and contribution obligations.

 

Promptly after receipt
by an indemnified party of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof
is to be made against the indemnifying party hereunder, notify in writing the indemnifying party of the commencement thereof; but
the omission to so notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party
under this Agreement except to the extent that such omission to notify materially prejudices the indemnifying party. In case any
such action is brought against any indemnified party, after the indemnifying party has been notified of the commencement of such
action, such indemnifying party shall be entitled to participate therein (at its own expense) and, to the extent that it may wish,
shall be entitled to assume the defense thereof (jointly with any other indemnifying party similarly notified) with counsel reasonably
satisfactory to such indemnified party (which approval shall not be unreasonably withheld or delayed), and after notice from the
indemnifying party to such indemnified party of its election to so assume the defense thereof, the indemnifying party shall not
be liable to such indemnified party for any expenses subsequently incurred in connection with the defense thereof other than reasonable
costs of investigation. In any such proceeding, any indemnified party shall have the right to retain its own counsel, but the fees
and expenses of such counsel shall be at the expense of such indemnified party unless (i) the indemnifying party and the indemnified
party shall have agreed to the retention of such counsel, (ii) the named parties to any such proceeding (including any impleaded
parties and, in the case of an investigation by the Commission, any parties that are, or whose reporting materials are, the subject
of such investigation) include both the indemnifying party and the indemnified party and representation of both parties by the
same counsel would be inappropriate due to actual or potential differing interests between them or (iii) the indemnifying
party fails within a reasonable period of time to designate counsel that is reasonably satisfactory to the indemnified party (which
approval shall not be unreasonably withheld or delayed). In no event shall the indemnifying parties be liable for fees and expenses
of more than one counsel (in addition to any local counsel) in any one jurisdiction separate from their own counsel for all indemnified

 

    	-407-

    	 

    

 

parties in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the
same general allegations or circumstances. An indemnifying party shall not be liable for any settlement of any proceeding effected
without its written consent. However, if settled with such consent, the indemnifying party shall indemnify the indemnified party
from and against any loss or liability by reason of such settlement to the extent that the indemnifying party is otherwise required
to do so under this Agreement. If an indemnifying party assumes the defense of any proceeding, it shall be entitled to settle such
proceeding with the consent of the indemnified party (which consent shall not be unreasonably withheld or delayed) or, if such
settlement (i) provides for an unconditional release of the indemnified party in connection with all matters relating to the
proceeding that have been asserted against the indemnified party in such proceeding by the other parties to such settlement and
(ii) does not require an admission of fault by the indemnified party, without the consent of the indemnified party.

 

Section 10.15     Amendments.
This Article X may be amended by the written consent of all the parties hereto pursuant to Section 11.07 for
purposes of complying with Regulation AB without, in each case, any Opinions of Counsel, Officer’s Certificates, No
Downgrade Confirmations or the consent of any Certificateholder, notwithstanding anything to the contrary contained in this
Agreement.

 

Section 10.16     Exchange
Act Report Signatures; Delivery of Notices; Interpretation of Grace Periods. (a) Each Form 8-K report, Form 10-D report
and Form 10-K report shall be signed by the Depositor in accordance with procedures to be agreed upon by the Depositor and
the Certificate Administrator. The signing party at the Depositor can be contacted at Deutsche Mortgage & Asset
Receiving Corporation at 60 Wall Street, New York, New York 10005, Attention: Lainie Kaye, with a copy to Salvatore
Palazzolo.

 

(b)          Notwithstanding
anything in Section 11.04 to the contrary, any notice required to be delivered to (i) the Depositor under this Article X
shall be properly given if sent by facsimile to (212) 797-4487, Attention: Lainie Kaye (or such other number as the Depositor may
instruct) and/or by email to lainie.kaye@db.com (or such other email address as the Depositor may instruct) and (ii) to the
Certificate Administrator under this Article X shall be properly given if sent by facsimile to (410) 884-2380, Attention:
Core Services, or such other number as the Certificate Administrator may instruct and/or by email to ets.sec.notifications@wellsfargo.com
(or such other email address as the Certificate Administrator may instruct).

 

(c)          For
the avoidance of doubt:

 

(i)           Neither
Master Servicer nor the Special Servicer shall be subject to a Servicer Termination Event, as applicable, pursuant to the last
clause of the definition of “Master Servicer Termination Event” or “Special Servicer Termination Event,”
as applicable, nor shall any such party be deemed to not be in compliance under this Agreement, during any grace period provided
for in this Article X, provided, that if any such party fails to comply with the delivery requirements of this Article X
by the expiration of any applicable grace period such failure shall constitute a Servicer Termination Event with respect to such
party; and

 

    	-408-

    	 

    

 

(ii)          Neither
Master Servicer nor the Special Servicer shall be subject to a Servicer Termination Event, as applicable, pursuant to the last
clause of the definition of “Master Servicer Termination Event” or “Special Servicer Termination Event,”
as applicable, nor shall any such party be deemed to not be in compliance under this Agreement, for failing to deliver any item
required under this Article X by the time required hereunder with respect to any reporting period for which the Trust is not
required to file Exchange Act reports.

 

(d)          If
the Certificate Administrator or the Depositor does not receive the Annual Assessment Report and/or the Annual Attestation Report
with respect to any Servicing Function Participant, or with respect to any Servicing Function Participant retained or engaged by
a party hereto that is actually known by a Responsible Officer of the Certificate Administrator or the Depositor, as the case may
be, by March 15th of any year during which an Annual Report on Form 10-K is required to be filed with the Commission with
respect to the Trust, then the Certificate Administrator shall, and the Depositor may, forward a Servicer Notice to such Servicing
Function Participant or the party hereto that retained or engaged such Sub-Servicing Function Participant, as the case may be,
with a copy of such Servicer Notice to the Depositor (if the Certificate Administrator is sending the Servicer Notice) or the Certificate
Administrator (if the Depositor is sending the Servicer Notice), as applicable, within two (2) Business Days of such failure. For
the purposes of this Article X and Section 7.01 of this Agreement, a “Servicer Notice” shall constitute either
any writing forwarded to such party or, in the case of the Master Servicer and the Special Servicer, notwithstanding the provisions
of Section 11.05, e-mail notice or fax notice which, in the case of an email transmission, shall be forwarded to all of the
following e-mail addresses for the applicable party: in the case of the Master Servicer and the Special Servicer, to the applicable
email address as provided in writing by the Master Servicer or the Special Servicer, as applicable, upon request, or such other
e-mail addresses as are provided in writing by the Master Servicer or the Special Servicer, as applicable, to the Certificate Administrator
and the Depositor (but any party to this Agreement (or someone acting on their behalf) shall only be required to forward any such
notice to be delivered to the Master Servicer to no more than three e-mail addresses in the aggregate in order to fulfill its notification
requirements as set forth in the preceding sentence and/or under the provisions of Section 7.01. Notwithstanding anything
herein to the contrary, the forwarding of a Servicer Notice shall not relieve any Master Servicer or the Special Servicer of any
liability under Section 7.01(a)(viii) or Section 7.01(b)(viii), respectively, for the failure of any Servicing Function
Participant or Sub-Servicing Entity to deliver any Exchange Act reporting items pursuant to this Article X.

 

Section 10.17     Termination
of the Certificate Administrator. Notwithstanding anything to the contrary contained in this Agreement, the Depositor may
direct the Trustee to, and the Trustee shall upon such direction, terminate the Certificate Administrator upon five Business
Days’ notice if the Certificate Administrator fails to comply with any of its obligations under this Article X;
provided that (a) such termination shall not be effective until a successor certificate administrator shall have
accepted the appointment, (b) the Certificate Administrator may not be terminated if it cannot perform its obligations
due to its failure to properly prepare or file on a timely basis any Form 8-K, Form 10-K or Form 10-D or any amendments to
such forms or any Form 12b-25 where such failure results from the Certificate Administrator’s

 

    	-409-

    	 

    

 

inability or failure to
receive, within the exact time frames set forth in this Agreement any information, approval, direction or signature from any
other party hereto needed to prepare, arrange for execution or file any such Form 8-K, Form 10-K or Form 10-D or any
amendments to such forms or any form 12b-25 not resulting from its own negligence, bad faith or willful misconduct,
(c) the Certificate Administrator may not be terminated if, following the Certificate Administrator’s failure to
comply with any of such obligations under Section 10.06, Section 10.07, Section 10.09, Section 10.11,
Section 10.12 or Section 10.13 on or prior to the dates by which such obligations are to be performed pursuant to,
and as set forth in, such Sections the Certificate Administrator subsequently complies with such obligations before the
Depositor gives written notice to it that it is terminated in accordance with this Section 10.17 and (d) the
Certificate Administrator may not be terminated if the Certificate Administrator’s failure to comply does not cause it
to fail in its obligations to timely file the related Form 8-K, Form 10-D or Form 10-K, as the case may be, by the related
deadline for filing such Form 8-K, Form 10-D or Form 10-K, then the Depositor shall cease to have the right to terminate the
Certificate Administrator under this Section 10.17 on the date on which such Form 8-K, Form 10-D or Form 10-K is so
filed.

 

Article XI

MISCELLANEOUS PROVISIONS

 

Section 11.01     Counterparts.
This Agreement may be executed simultaneously in any number of counterparts, each of which counterparts shall be deemed to be
an original, and such counterparts shall constitute but one and the same instrument. Delivery of an executed counterpart of a
signature page of this Agreement in Portable Document Format (PDF), any other electronic format or by facsimile transmission
shall be as effective as delivery of a manually executed original counterpart of this Agreement.

 

Section 11.02     Limitation
on Rights of Certificateholders. The death or incapacity of any Certificateholder shall not operate to terminate this
Agreement or the Trust Fund, or entitle such Certificateholder’s legal representatives or heirs to claim an accounting
or to take any action or proceeding in any court for a partition or winding up of the Trust Fund, or otherwise affect the
rights, obligations and liabilities of the parties hereto or any of them.

 

No Certificateholder
shall have any right to vote (except as expressly provided for herein) or in any manner otherwise control the operation and management
of the Trust Fund, or the obligations of the parties hereto, and nothing herein set forth, or contained in the terms of the Certificates,
shall be construed so as to constitute the Certificateholders from time to time as partners or members of an association; and no
Certificateholder shall be under any liability to any third person by reason of any action taken by the parties to this Agreement
pursuant to any provision hereof.

 

No Certificateholder
shall have any right to institute any suit, action or proceeding in equity or at law upon or under or with respect to this Agreement,
the Certificates or any Mortgage Loan, unless such Certificateholder previously shall have given to the Trustee a written notice
of default and of the continuance thereof, as hereinbefore provided, and unless the Certificateholders representing Percentage
Interests of at least 25% of

 

    	-410-

    	 

    

 

each affected Class of Certificates, as applicable, has or have made written request upon the Trustee
to institute such action, suit or proceeding in its own name as Trustee hereunder and has or have offered to the Trustee such security
or indemnity reasonably satisfactory to it as it may require against the costs, expenses and liabilities to be incurred therein
or thereby, and the Trustee, for 60 days after its receipt of such notice, request and offer of security or indemnity, shall
have failed or refused to institute any such action, suit or proceeding. It is understood and intended, and expressly covenanted
by each Certificateholder with every other Certificateholder and the Trustee, that no Certificateholder of any Class shall have
any right in any manner whatever by virtue of any provision of this Agreement to affect, disturb or prejudice the rights of the
Holders of any other of such Certificates, or to obtain or seek to obtain priority over or preference to any other such Certificateholder,
or to enforce any right under this Agreement, except in the manner herein provided and for the equal, ratable and common benefit
of all Holders of Certificates of such Class, as applicable. For the protection and enforcement of the provisions of this Section,
each and every Certificateholder and the Trustee shall be entitled to such relief as can be given either at law or in equity.

 

No Certificateholder
shall be a “Party in Interest” as described under 11 U.S.C. Section 1109(b) solely by virtue of its ownership
of a Certificate.

 

Section 11.03     Governing
Law. 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. THE PARTIES HERETO INTEND THAT THE PROVISIONS OF SECTION 5-1401 OF THE NEW
YORK GENERAL OBLIGATIONS LAW SHALL APPLY TO THIS AGREEMENT.

 

Section 11.04     Waiver
of Jury Trial; Consent to Jurisdiction. TO THE FULLEST EXTENT PERMITTED UNDER APPLICABLE LAW, EACH PARTY HERETO WAIVES
ITS RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS
AGREEMENT, ANY ASSIGNMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE
BROUGHT BY ANY PARTY AGAINST THE OTHER PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS, OR OTHERWISE. EACH
PARTY HERETO AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING
THE FOREGOING, THE PARTIES FURTHER AGREE THAT THEIR RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS
SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING WHICH SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR
ENFORCEABILITY OF THIS AGREEMENT, ANY ASSIGNMENT OR ANY PROVISION HEREOF OR THEREOF. THIS WAIVER SHALL APPLY TO ANY
SUBSEQUENT AMENDMENTS, RENEWALS,

 

    	-411-

    	 

    

 

SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR ANY ASSIGNMENT.

 

TO THE FULLEST EXTENT
PERMITTED UNDER APPLICABLE LAW, EACH PARTY HERETO HEREBY IRREVOCABLY (I) SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE
AND FEDERAL COURTS SITTING IN NEW YORK CITY WITH RESPECT TO MATTERS ARISING OUT OF OR RELATING TO THIS AGREEMENT; (II) AGREES
THAT ALL CLAIMS WITH RESPECT TO SUCH MATTERS MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR FEDERAL COURTS; (III) WAIVES
THE DEFENSE OF AN INCONVENIENT FORUM IN ANY ACTION OR PROCEEDING INVOLVING SUCH CLAIMS IN ANY SUCH COURT; AND (IV) AGREES
THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS
BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.

 

Section 11.05     Notices.
Unless otherwise specified in this Agreement, all demands, notices and communications hereunder shall be in writing, shall be
deemed to have been given upon receipt (except that notices to Holders of Class R and Class LR Certificates or Holders
of any Class of Certificates no longer held through a Depository and instead held in registered, definitive form shall be deemed
to have been given upon being sent by first-class mail, postage prepaid or by overnight courier) as follows:

 

If to the Certificate Administrator,
to:

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services — COMM 2015-CCRE26

 

If to the Custodian, to:

 

Wells Fargo Bank, N.A.

1055 10th Avenue SE

Minneapolis, Minnesota 55414

Attention: COMM 2015-CCRE26

 

If to the Trustee, to:

 

Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

CMBS Trustee – COMM 2015-CCRE26

Email: cmbstrustee@wilmingtontrust.com

 

If to the Depositor, to:

 

    	-412-

    	 

    

 

Deutsche Mortgage & Asset
Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

If to the Operating Advisor,
to:

 

Park Bridge Lender Services LLC

560 Lexington Avenue, 17th Floor

New York, New York 10022

Attention: COMM 2015-CCRE26 - Surveillance Manager (with a copy sent contemporaneously via email to cmbs.notices@parkbridgefinancial.com)

 

If to the Master Servicer, to:

 

Wells Fargo Bank, National Association

Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager

 

with a copy to:

 

Wells Fargo Bank, National Association

Legal Department

301 South College Street

D1053-300 

Charlotte, North Carolina 28202

Attention: Commercial Mortgage Servicing Legal Support

 

with a copy to:

 

K&L Gates LLP

Hearst Tower

214 North Tryon Street

Charlotte, North Carolina 28202

Attention: Stacy G. Ackermann

For items regarding the Rating Agency Q&A Forum and Document

Request Tool to: RAinvRequests@wellsfargo.com

and

For items regarding the Investor Q&A Forum to:

REAMInvestorRelations@wellsfargo.com

 

    	-413-

    	 

    

 

If to the Special Servicer, to:

 

			CWCapital Asset Management LLC

7501 Wisconsin Avenue, Suite 500 West

Bethesda, Maryland 20814

Attention: Brian Hanson 

Facsimile No.: (202) 715-9699

Email:
cwcamnoticescomm2015-CCRE26@cwcapital.com

 

with a copy to:

 

			Stinson Leonard Street LLP

1201 Walnut Street, Suite 2900

Kansas City, Missouri 64106-2150

Attention: Kenda K. Tomes 

Facsimile No.: (816) 691-3495

Email:
kenda.tomes@stinsonleonard.com

 

If to German American Capital
Corporation as Mortgage Loan Seller, to:

 

German American Capital Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

If to Cantor Commercial Real
Estate Lending L.P., as Mortgage Loan Seller, to:

 

Cantor Commercial Real Estate Lending,
L.P.

110 East 59th Street

New York, New York 10022

Attention: Anthony Orso

 

with an electronic copy to:

Cantor Commercial Real Estate Lending, L.P.

110 East 59th Street

New York, New York 10022

Attention: Legal Department

E-mail: legal@ccre.com

 

with a copy to:

 

Cadwalader, Wickersham & Taft
LLP

200 Liberty Street

New York, New York 10281

Attention: Lisa Pauquette

 

    	-414-

    	 

    

 

If to Jefferies LoanCore LLC, as
Mortgage Loan Seller, to:

Jefferies LoanCore LLC

c/o LoanCore Capital

80 Field Point Road

Greenwich, Connecticut

Attention: Dan Bennett

Fax No.: (203) 861-6006

 

With a copy to:

 

Cadwalader, Wickersham & Taft
LLP

200 Liberty Street

New York, New York 10281

Attention: Anna Glick

 

If to Deutsche Bank Securities
Inc., as Initial Purchaser or Underwriter, to:

 

Deutsche Bank Securities Inc.

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

If to Cantor Fitzgerald &
Co., as Initial Purchaser or Underwriter, to:

 

Cantor Fitzgerald & Co.

499 Park Avenue

New York, New York 10022

Attention: Stephen Merkel and Shawn Matthews

 

with a copy to:

Cadwalader, Wickersham & Taft LLP

200 Liberty Street

New York, New York 10281

Attention: Lisa Pauquette

 

If to CastleOak Securities, L.P.,
as Underwriter, to:

 

CastleOak Securities, L.P.

110 East 59th Street, 2nd Floor

New York, New York 10022

Attention: Philip Ippolito

 

    	-415-

    	 

    

 

If to Jefferies LLC, as Underwriter,
to:

 

Jefferies LLC

520 Madison Avenue

New York, New York 10022

Attention: Lisa Pendergast

Facsimile Number: (203) 724-4971

 

with a copy to:

 

Jefferies LLC

520 Madison Avenue

New York, New York 10022

Attention: Legal Department

Facsimile Number: (646) 786-5691

 

If to Wells Fargo Securities,
LLC, as Initial Purchaser, to:

 

Wells Fargo Securities, LLC

375 Park Avenue, 2nd Floor

New York, NY 10152

Attention: A.J. Sfarra

Facsimile: (212) 214-8970

 

If to any Certificateholder,
to:

 

the address set forth in the Certificate
Register

 

If to the initial Controlling
Class Representative with respect to any Mortgage Loan, to:

 

Seer Capital Management, LP

1177 Avenue of the Americas, 34th Floor

New York, New York 10036

Attention: Richard Parkus

Facsimile number: (212) 850-2011

Email: rparkus@seercap.com

 

with a copy to:

 

Kaye Scholer LLP

70 West Madison Street

Suite 4100

Chicago, Illinois 60602

Attention: Daniel J. Hartnett

Facsimile number: (312) 582-2580

Email: daniel.hartnett@kayescholer.com

 

    	-416-

    	 

    

 

If to the 17g-5 Information Provider,
electronically to:

 

17g5informationprovider@wellsfargo.com

(in an electronic format readable and uploadable (that is not locked or corrupted) on the 17g-5 Information Provider’s system,
specifically with a subject reference of “COMM 2015-CCRE26” and an identification of the type of information being
provided in the body of such electronic mail)

 

or, in the case of the parties to this
Agreement, to such other address as such party shall specify by written notice to the other parties hereto.

 

Solely to the extent
the provisions herein contemplate electronic delivery of information, such information shall be transmitted via electronic mail
with a subject reference to include “COMM 2015-CCRE26” (or substantially similar language) (i) in the case of
the Depositor, to dbsec.notifications@db.com, (ii) in the case of the Certificate Administrator, to the email address specified
on the Certificate Administrator’s Website (and, if no such email address is specified therein, to cts.cmbs.bond.admin@wellsfargo.com),
(iii) in the case of the Trustee, to cmbstrustee@wilmingtontrust.com, (iv) in the case of the Operating Advisor, to cmbs.notices@parkbridgefinancial.com,
(v)  in the case of the Master Servicer to commercial.servicing@wellsfargo.com, (vi) in the case of the Special Servicer,
to cwcamnoticescomm2015-CCRE26@cwcapital.com, (vi) in the case of German American Capital Corporation, to lainie.kaye@db.com,
(vii) in the case of Deutsche Bank Securities Inc., to lainie.kaye@db.com, (viii) in the case of Cantor Commercial Real Estate
Lending, L.P., to legal@ccre.com and awessner@cantor.com, (ix) in the case of Cantor Fitzgerald & Co., to smatthews@cantor.com
and smerkel@cantor.com, (x) in the case of Jefferies LoanCore LLC, to pgershon@loancorecapital.com, (xi) in the case of Jefferies
LLC, to mgreen@jefferies.com, (xii) in the case of CastleOak Securities, L.P., to pji@castleoaklp.com, (xiii) in the case
of the initial Controlling Class Representative, to rparkus@seercap.com, and (xiv)  in the case of the 17g-5 Information Provider,
to 17g5informationprovider@wellsfargo.com; or, in the case of the parties to this Agreement, to such other electronic mail address
as such party shall specify by written notice (which may be electronic) to the other parties hereto.

 

The obligation of any
party to this Agreement to deliver any notices, reports or other information to any Other Depositor, Other Servicer, Other Special
Servicer, Other Trustee or Other 17g-5 Information Provider shall be effective in each case only to the extent such party to this
Agreement has received notice of the identity and contact information of such Other Depositor, Other Servicer, Other Special Servicer,
Other Trustee or Other 17g-5 Information Provider, as applicable. Any such party may conclusively rely on the name and contact
information provided by the related Other Depositor, Other Servicer, Other Special Servicer, Other Trustee or Other 17g-5 Information
Provider, as applicable, and shall be entitled to assume that the identity and contact information for such Other Depositor, Other
Servicer, Other Special Servicer, Other Trustee or Other 17g-5 Information Provider, as applicable has not changed, absent receipt
of written notice from such Other Depositor, Other Servicer, Other Special Servicer, Other Trustee or Other 17g-5 Information Provider,
or a replacement thereof under the applicable Other Pooling and Servicing Agreement, of a change

 

    	-417-

    	 

    

 

with respect to the identity and
contact information for such Other Depositor, Other Servicer, Other Special Servicer, Other Trustee or Other 17g-5 Information
Provider, or a replacement thereof under the applicable Other Pooling and Servicing Agreement, as applicable.

 

Section 11.06     Severability
of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever held invalid, then, to the extent permitted by applicable law, such covenants, agreements, provisions or
terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in
no way affect the validity or enforceability of the other provisions of this Agreement or of the Certificates or the rights
of the Holders thereof.

 

Section 11.07     Notice
to the Depositor and Each Rating Agency. (a) The Certificate Administrator shall use its best efforts to promptly provide
notice, promptly furnish (or make available) to the Depositor, the Underwriters, the Initial Purchasers, the Directing Holder
(if no Consultation Termination Event has occurred and is continuing), the Trustee, the related Serviced Companion Loan Noteholder
(if any) and the 17g-5 Information Provider (who shall promptly post such notice to the 17g-5 Information Provider’s Website)
with respect to each of the following of which a Responsible Officer of the Certificate Administrator has actual knowledge:

 

(i)         any
material change or amendment to this Agreement, any Mortgage Loan Purchase Agreement or any Intercreditor Agreement;

 

(ii)        the
occurrence of any Servicer Termination Event that has not been cured;

 

(iii)       the
merger, consolidation, resignation or termination of the Certificate Administrator, the Master Servicer, the Special Servicer,
the Operating Advisor or the Trustee; and

 

(iv)       the
repurchase of Mortgage Loans pursuant to Section 2.03(e) of this Agreement.

 

(b)        The
Certificate Administrator shall promptly furnish to the Depositor, the Underwriters, the Initial Purchasers, the Directing Holder
and the 17g-5 Information Provider (who shall promptly post such materials to the 17g-5 Information Provider’s Website):

 

(i)         notice
of the final payment to any Class of Certificateholders;

 

(ii)        notice
of any change in the location of the Distribution Accounts, the Interest Reserve Account, or the Excess Liquidation Proceeds Account;
and

 

(iii)       each
report to Certificateholders described in Section 4.02 and Section 3.13 of this Agreement.

 

    	-418-

    	 

    

 

(c)        The
Master Servicer shall promptly furnish to the 17g-5 Information Provider (who shall promptly post such materials to the 17g-5 Information
Provider’s Website) and the related Other 17g-5 Information Provider (if any):

 

(i)         a
copy of each rent roll and each operating and other financial statement and occupancy reports, to the extent such information is
required to be delivered under a Mortgage Loan, in each case to the extent collected pursuant to Section 3.03 of this Agreement;

 

(ii)        notice
of any change in the location of the Collection Account or any Serviced Loan Combination Collection Account,

 

(iii)       a
copy of any notice with respect to a breach of a representation or warranty with respect to any Mortgage Loan;

 

(iv)       any
event that would result in the voluntary or involuntary termination of any insurance of the accounts of the Master Servicer;

 

(v)        any change in the lien priority of a Mortgage Loan;

 

(vi)       any
new lease of an anchor or a termination of an anchor lease at a retail Mortgaged Property;

 

(vii)      any
material damage to a Mortgaged Property; and

 

(viii)     any
amendment, modification, consent or waiver to or of any provision of a Mortgage Loan.

 

(d)        Any
party required to deliver any notice or information pursuant to the terms of this Agreement to the Rating Agencies shall deliver
such written notice of the events or information specified in Section 3.14(d) to the Rating Agencies at the address listed
below, promptly following the occurrence thereof. The Master Servicer or Special Servicer, as applicable, and the Certificate Administrator
and Trustee also shall furnish such other information regarding the Trust Fund as may be reasonably requested by the Rating Agencies
to the extent such party has or can obtain such information without unreasonable effort or expense; provided that such other
information is first provided to the 17g-5 Information Provider in accordance with the procedures set forth in Section 3.14(d).
Notwithstanding the foregoing, the failure to deliver such notices or copies shall not constitute a Servicer Termination Event,
as the case may be, under this Agreement. Any confirmation of the rating by the Rating Agencies required hereunder shall be in
writing.

 

Notices to each Rating Agency
shall be addressed as follows:

 

    	-419-

    	 

    

 

Moody’s Investors Service,
Inc.

7 World Trade Center

New York, New York 10007

Attention: Commercial Mortgage Surveillance Group

Facsimile No.: (212) 553-1350

Email:cmbssurveillance@moodys.com

 

Fitch Ratings, Inc.

33 Whitehall Street

New York, New York 10004

Attention: Michael Giordanella

Facsimile No.: (212) 635-0295

Email: britt.johnson@fitchratings.com

 

Kroll Bond Rating Agency, Inc.

845 Third Avenue, 4th Floor

New York, New York 10022

Attention: CMBS Surveillance

Facsimile No.: (646) 731-2395

 

Morningstar Credit Ratings, LLC

220 Gibraltar Road, Suite 300

Horsham, Pennsylvania 19044

Attention: CMBS Surveillance

E-mail: cmbsratings@morningstar.com

 

or in each case to such other address as
any Rating Agency shall specify by written notice to the parties hereto.

 

Section 11.08     Amendment.
This Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or any
Serviced Companion Loan Noteholders:

 

(i)         to
cure any ambiguity or to correct any error;

 

(ii)        to
cause the provisions herein or therein to conform or be consistent with or in furtherance of the statements made in the Prospectus
or Private Placement Memorandum with respect to the Certificates, the Trust or this Agreement or to correct or supplement any provisions
herein or therein which may be defective or inconsistent with any other provisions herein or therein;

 

(iii)       to
amend any provision hereof or thereof to the extent necessary or desirable to maintain the rating or ratings assigned to each of
the Classes of Certificates or any class of Serviced Companion Loan Securities by each Rating Agency; provided that such
amendment does not reduce the consent or consultation rights of the

 

    	-420-

    	 

    

 

Controlling Class Representative or the right of the Controlling
Class Representative to receive information under this Agreement;

 

(iv)       to
amend or supplement a provision, or to supplement any provisions to the extent not inconsistent with the provisions of this Agreement,
or to effect any other change which will not adversely affect in any material respect the interests of any Certificateholder or
Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an Opinion of Counsel or, if solely affecting
any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect of which a No Downgrade Confirmation has
been obtained relating to the Certificates of a rated Class and Serviced Companion Loan Securities, if any;

 

(v)        to
modify the procedures herein relating to compliance with Rule 17g-5 of the Exchange Act; and

 

(vi)       in
the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions of this Agreement (A) to the
extent necessary to effect the qualification of this Agreement under the TIA or under any similar federal statute hereafter enacted
and to add to this Agreement such other provisions as may be expressly required by the TIA, and (B) to modify such other provisions
of this Agreement to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant
to clause (A); provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor;

 

provided that
any amendment under this Section 11.08 (a) shall not materially increase the obligations of the Depositor, the Trustee,
the Paying Agent, the Certificate Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or
the Special Servicer without such party’s consent; and (b) shall not adversely affect in any material respect the interests
of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii)
through (v) above by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt
of a No Downgrade Confirmation from each applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC
or the Upper-Tier REMIC to fail to qualify as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

This Agreement or any
Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer, the Certificate
Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates representing
not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to Certificates
held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder affected
thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement
or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan Noteholders; provided, that
no such amendment may:

 

    	-421-

    	 

    

 

(i)           reduce
in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans or Serviced Loan Combinations which
are required to be distributed on any Certificate, without the consent of the Holders of Certificates representing all of the Percentage
Interests of the Class or Classes affected thereby or which are required to be distributed to any Serviced Companion Loan Noteholders
without the consent of such Serviced Companion Loan Noteholders;

 

(ii)        change
the percentages of Voting Rights or Percentage Interests of Holders of Certificates which are required to consent to any action
or inaction under this Agreement;

 

(iii)       alter
the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer or the Trustee to make a P&I Advance
or a Property Advance, without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class
or Classes affected thereby and the consent of any affected Serviced Companion Loan Noteholders; or

 

(iv)       amend
any section hereof which relates to the amendment of this Agreement without the consent of the Holders of all Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend this Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary to maintain
the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust as a grantor
trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates are outstanding;
provided that such action, as evidenced by an Opinion of Counsel (obtained at the expense of the Trust Fund), is necessary
or helpful to maintain such qualification or to prevent the imposition of any such taxes, and would not adversely affect in any
material respect the interest of any Certificateholder or if applicable, any Serviced Companion Loan Noteholder or (ii) to
the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act, Regulation AB, and/or any
related regulatory actions and/or interpretations.

 

If neither the Depositor
nor any successor thereto, if any, is in existence, any amendment under this Section 11.08 shall be effective with the consent
of the Trustee, the Certificate Administrator, the Operating Advisor, the Master Servicer and the Special Servicer, in writing,
and to the extent required by this Section 11.08, the Certificateholders and Serviced Companion Loan Noteholders.

 

It shall not be necessary
for the consent of Certificateholders under this Section 11.08 to approve the particular form of any proposed amendment, but
it shall be sufficient if such consent shall approve the substance thereof. The method of obtaining such consents and of evidencing
the authorization of the execution thereof by Certificateholders and,

 

    	-422-

    	 

    

 

if applicable, Serviced Companion Loan Noteholders, shall
be subject to such reasonable regulations as the Trustee may prescribe; provided, that such method shall always be by affirmation
and in writing.

 

Notwithstanding any contrary
provision of this Agreement, no amendment shall be made to this Agreement or any Custodial Agreement unless the Trustee and the
Certificate Administrator have received an Opinion of Counsel, at the expense of the party requesting such amendment (or, if such
amendment is required to maintain the rating issued by any Rating Agency or requested by the Trustee for any purpose described
in clause (i), (ii) or (iii) of the first sentence of this Section, then at the expense of the Trust Fund (and,
in the case of any Loan Combination, any such expense shall be allocated in accordance with the expense allocation provision of
the related Intercreditor Agreement) confirming that such amendment is authorized or permitted by this Agreement and that all conditions
precedent with respect thereto have been satisfied, respectively, hereunder and such amendment will not cause the Lower-Tier REMIC
or the Upper-Tier REMIC to fail to qualify as a REMIC at any time that any Certificates are outstanding, or cause the Grantor Trust
to fail to qualify as a grantor trust, or cause a tax to be imposed on the Trust Fund or any such Trust REMIC or any such Grantor
Trust.

 

Prior to the execution
of any amendment to this Agreement or any Custodial Agreement, the Trustee, the Certificate Administrator, the Operating Advisor,
the Special Servicer and the Master Servicer may request and shall be entitled to rely conclusively upon an Opinion of Counsel
and an Officer’s Certificate, at the expense of the party requesting such amendment (or, if such amendment is required to
maintain the rating issued by any Rating Agency or requested by the Trustee for any purpose described in clauses (i), (ii) or
(iii) of the first sentence of this Section 11.08 (which do not modify or otherwise relate solely to the obligations,
duties or rights of the Trustee), then at the expense of the Trust Fund (and, in the case of any Loan Combination, any such expense
shall be allocated in accordance with the expense allocation provision of the related Intercreditor Agreement)) confirming that
the execution of such amendment is authorized or permitted by this Agreement and that all conditions precedent with respect thereto
have been satisfied. The Trustee, the Certificate Administrator or the Operating Advisor may, but shall not be obligated to, enter
into any such amendment which affects the Trustee’s, the Certificate Administrator’s or the Operating Advisor’s
own rights, duties or immunities under this Agreement.

 

Notwithstanding any contrary
provision contained in this Agreement, no amendment shall be made to this Agreement (i) which adversely affects the rights,
including (without limitation) as a third-party beneficiary hereunder, and/or obligations (including, without limitation, in the
case of a Mortgage Loan Seller, under the related Mortgage Loan Purchase Agreement) of any Mortgage Loan Seller, Initial Purchaser
or Underwriter without the written consent of such Mortgage Loan Seller, Initial Purchaser or Underwriter, as applicable or (ii) which
adversely affects (as determined by the applicable Companion Loan Noteholder in good faith) the rights and/or obligations of any
Companion Loan Noteholder without the written consent of such Companion Loan Noteholder.

 

Promptly after the execution
of any amendment to this Agreement, the Certificate Administrator shall post a copy of the same to the Certificate Administrator’s

 

    	-423-

    	 

    

 

Website, deliver a copy of the same to the 17g-5 Information Provider who shall post a copy of the same on the 17g-5 Information
Provider’s Website pursuant to Section 3.14(d) of this Agreement, and thereafter, the Certificate Administrator shall
furnish written notification of the substance of such amendment to each Certificateholder, each Serviced Companion Loan Noteholder,
the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Trustee, each Mortgage Loan Seller, the Underwriters
and the Initial Purchasers.

 

Notwithstanding any contrary
provision contained in this Agreement, if one but not all of the Notes evidencing a Joint Mortgage Loan is repurchased by the applicable
Mortgage Loan Sellers, this Agreement may be amended by the parties hereto (at the expense of the party requesting such amendment),
without the consent of any Certificateholder, to add or modify provisions relating to the applicable Repurchased Note for purposes
of the servicing and administration of such Repurchased Note, provided that the amendment shall not adversely affect in any material
respect the interests of the Certificateholders, as evidenced by a No Downgrade Confirmation from each Rating Agency (obtained
at the expense of the repurchasing Mortgage Loan Seller) with respect to such amendment (or, if no such No Downgrade Confirmation
is actually received, by an opinion of counsel to such effect). Prior to the effectiveness of such amendment, if one but not all
of the Notes with respect to a Joint Mortgage Loan is repurchased, the terms of Article III shall govern the servicing and
administration of such Joint Mortgage Loan.

 

Section 11.09     Confirmation
of Intent. It is the express intent of the parties hereto that the conveyance of the Trust Fund (including the Mortgage Loans)
by the Depositor to the Trustee on behalf of Certificateholders as contemplated by this Agreement be treated for all purposes
as a sale by the Depositor of the Trust Fund to the Trustee. It is, further, not the intention of the parties that such conveyance
be deemed a pledge of the Trust Fund by the Depositor to the Trustee to secure a debt or other obligation of the Depositor. However,
if, notwithstanding the intent of the parties, the Trust Fund is held to continue to be property of the Depositor then (a) this
Agreement shall also be deemed to be a security agreement under applicable law; (b) the transfer of the Trust Fund provided
for herein shall be deemed to be a grant by the Depositor to the Trustee on behalf of Certificateholders of a first priority security
interest in, and the Depositor hereby grants to the Trustee a security interest in, all of the Depositor’s right, title
and interest in and to, whether now owned or existing or hereafter acquired or arising, the property identified in clauses (i)
through (xiv) of the definition of “Trust Fund” and all proceeds thereof; (c) the possession by the Trustee
(or the Custodian on its behalf) of Notes and such other items of property as constitute instruments, money, negotiable documents
or chattel paper shall be deemed to be “possession by the secured party” for purposes of perfecting the security interest
pursuant to Section 9-313 of the New York Uniform Commercial Code; and (d) notifications to Persons holding such property,
and acknowledgments, receipts or confirmations from Persons holding such property, shall be deemed notifications to, or acknowledgments,
receipts or confirmations from, financial intermediaries, bailees or agents (as applicable) of the Trustee for the purpose of
perfecting such security interest under applicable law. The Depositor shall, and upon the request and direction of the Master
Servicer, the Trustee shall, to the extent consistent with this Agreement (and at the expense of the Trust Fund (and, in the case
of any Loan Combination, such expense shall be allocated in accordance with the expense allocation provision of the related Intercreditor
Agreement)), take such actions as may be necessary to ensure that such security

 

    	-424-

    	 

    

 

interest is a perfected security interest of first
priority under applicable law and will be maintained as such throughout the term of this Agreement. It is the intent of the parties
that such a security interest would be effective whether any of the Certificates are sold, pledged or assigned.

 

Section 11.10     No
Intended Third-Party Beneficiaries. Except as specified in Section 11.12 of this Agreement, no Person other than a party to
this Agreement, any Mortgage Loan Seller, any Initial Purchaser, any Underwriter or any Certificateholder shall have any rights
with respect to the enforcement of any of the rights or obligations hereunder. Without limiting the foregoing, the parties to
this Agreement specifically state that no Borrower Party (other than the Controlling Class Representative (solely in its capacity
as the Controlling Class Representative) or a Controlling Class Certificateholder (solely in its capacity as a Controlling Class
Certificateholder) that is a Borrower Party, subject to the applicable provisions of this Agreement) or any other party to a Mortgage
Loan (other than the holder of a Companion Loan that is not an Affiliate of any related Borrower Party) is an intended third-party
beneficiary of this Agreement.

 

Section 11.11     Entire
Agreement. This Agreement (and, with respect to each Loan Combination, together with the related Intercreditor Agreement)
contains the entire agreement and understanding between the parties hereto with respect to the subject matter hereof, and supersedes
all prior and contemporaneous agreements, understanding, inducements and conditions, express or implied, oral or written, of any
nature whatsoever with respect to the subject matter hereof. The express terms hereof control and supersedes any course of performance
or usage of the trade inconsistent with any of the terms hereof.

 

Section 11.12     Third
Party Beneficiaries. Each of the Trustee, the Certificate Administrator, the Master Servicer and the Special Servicer acknowledge
that (i) each Mortgage Loan Seller and Deutsche Bank Securities Inc. are third party beneficiaries with respect to Section 8.05(h)
of this Agreement, the obligations of any party to this Agreement to deliver information to the 17g-5 Information Provider hereunder
and the obligations of the 17g-5 Information Provider to post information to the 17g-5 Information Provider’s Website (or
make available to the NRSROs the items referenced in Section 3.13(c) and (d)) and the express obligations of any party hereto
to deliver documents, notices, information or funds to a Mortgage Loan Seller, (ii) each Mortgage Loan Seller is a third
party beneficiary with respect to Section 1.04, Section 2.01, Section 2.02, Section 2.03, Section 8.05 and Section 11.08
of this Agreement and its rights as a Privileged Person, (iii) each Initial Purchaser and each Underwriter is a third party
beneficiary with respect to its rights to receive any notices, documents, certifications and/or information hereunder and its
rights under Section 11.08 of this Agreement, (iv) each holder of a Companion Loan and any related Other Depositor is
an intended third party beneficiary in respect of the rights afforded it under this Agreement and may directly (or, in the case
of a holder of a Companion Loan, the related Other Servicer may) enforce such rights, (v) each of the Serviced Companion Loan
Service Providers under the applicable Other Pooling and Servicing Agreement is an intended third party beneficiary under this
Agreement with respect to any provision herein expressly relating to compensation, reimbursement or indemnification of such Serviced
Companion Loan Service Provider and the provisions regarding the coordination of Advances, (vi) with respect to each Non-Serviced
Pari Passu Companion Loan, each of the related Non-Serviced Mortgage Loan Service Providers

 

    	-425-

    	 

    

 

under the related Other Pooling and
Servicing Agreement is an intended third party beneficiary under this Agreement with respect to any provisions herein relating
to (1) the reimbursement of any nonrecoverable advances made with respect to the applicable Non-Serviced Mortgage Loan by such
Persons, (2) the indemnification of each applicable Other Servicer, Other Special Servicer and Other Trustee pursuant to Section 1.04
of this Agreement or pursuant to the related Intercreditor Agreement 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 related
Other Pooling and Servicing Agreement and this Agreement that relate solely to its servicing of the related Loan Combination and
any related reimbursement provisions and (3) the provisions set forth in Section 4.07(e) of this Agreement regarding
advancing coordination, and (vii) if one, but not all, of the Notes with respect to any Joint Mortgage Loan is repurchased,
the applicable Repurchasing Seller shall be a third party beneficiary of this Agreement to the same extent as if it was a Serviced
Companion Loan Noteholder, as contemplated by Section 3.33 hereof.

 

Section 11.13     Precautionary
Trust Indenture Act Provisions. In the event that the Depositor notifies the parties to this Agreement that it has determined,
in consultation with the Trustee, that the TIA applies to this Agreement or that qualification under the TIA or any similar federal
statute hereafter enacted is required (any such determination by the Depositor, a “TIA Applicability Determination”),
then, (i) in the case of the TIA, pursuant to Section 318 of the TIA (assuming such section is then in effect), the
provisions of Sections 310 to and including Section 317 of the TIA that impose duties on any person are part of and govern
this Agreement, whether or not physically contained herein, as and to the extent provided in Section 318 of the TIA; provided that it shall be deemed that the parties to this Agreement have agreed that, to the extent permitted under the TIA, this Agreement
shall expressly exclude any non-mandatory provisions that (x) conflict with the provisions of this Agreement or would otherwise
alter the provisions of this Agreement or (y) increase the obligations, liabilities or scope of responsibility of any party
hereto; (ii) the parties agree to cooperate in good faith with the Depositor to make such amendments to modify, eliminate
or add to the provisions of this Agreement to the extent necessary to effect the qualification of this Agreement under the TIA
or such similar statute and to add to this Agreement such other provisions as may be expressly required by the TIA or as may be
determined by the parties to be beneficial for compliance with the TIA; and (iii) upon the direction of the Depositor, the
Trustee shall file a Form T-1 or such other form as the Depositor informs the Trustee is required, with the Commission or other
appropriate institution.

 

[NO FURTHER TEXT ON THIS
PAGE]

 

    	-426-

    	 

    

 

IN WITNESS WHEREOF,
the Depositor, the Master Servicer, the Special Servicer, the Trustee, the Certificate Administrator and the Operating Advisor
have caused their names to be signed hereto by their respective officers thereunto duly authorized all as of the day and year
first above written. 

	 	 	 
	 	DEUTSCHE MORTGAGE & ASSET RECEIVING CORPORATION, 

as Depositor
	 	 	 
	 	By:	/s/  Matt Smith
			Name: Matt Smith
	 	 	Title:   Director

	 	 	 
	 	By:	/s/ Natalie Grainger
			Name: Natalie Grainger
	 	 	Title:    Director

	 	 	 
	 	WELLS FARGO Bank,
               National Association, as Master Servicer
	 	 	 
	 	By:	/s/ Cynthia L. Schwartz
			Name: Cynthia L. Schwartz

Title:   Director

	 	 	 
	 	CWCapital
               Asset Management LLC, as Special Servicer
	 	 	 
	 	By:	/s/ Brian Hanson
			Name: Brian
                                         Hanson

                                         Title:   Managing Director

 

COMM
2015-CCRE26 Mortgage Trust – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	 	 	 
	 	WILMINGTON TRUST,
               NATIONAL ASSOCIATION, 

as Trustee
	 	 	 
	 	By:	/s/ Adam B. Scozzafava
			Name: Adam B. Scozzafava

Title:   Vice President

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION,

as Certificate Administrator, Paying Agent and Custodian
	 	 	 
	 	By:	/s/ Stacey Gross
			Name: Stacey Gross

Title:   Vice President

	 	 	 
	 	Park
Bridge Lender Services LLC,

as Operating Advisor
	 	 	 
	 	By:	Park Bridge Advisors LLC

Its Sole Member
	 	 	 
	 	 	By: Park Bridge Financial LLC

Its Sole Member
			

	 	 	 
	 	By:	/s/ David M. Rodgers
			Name: David M. Rodgers

Title:   Managing Member

 

COMM
2015-CCRE26 Mortgage Trust – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF   New York                  	)	 
	 	:  ss.:	 
	COUNTY OF   New York              	)	 

  

On the 7th day
of October in the year 2015, before me, the undersigned, personally appeared Natalie Grainger &
Matt Smith, personally known to me or proved to me on the basis of satisfactory evidence to
be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed
the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person
upon behalf of which the individual(s) acted, executed the instrument, and that such individual made such appearance before the
undersigned in the New York  (insert the city or other political subdivision and the state or county or other place the acknowledgment
was taken). 

 

	 	/s/ Christine L. Last 
	 	Signature and Office of individual taking acknowledgment

 

This instrument prepared by: 

	 	 	 
	Name:	Sidley Austin LLP	Christine L. Last
	Address:	787 Seventh Avenue	Notary Public - State
    of New York
		New York, New York	No. 01LA6274862
	 		Qualified in New York County
	 	 	My Commission Expires January 14,
    2017

 

COMM
2015-CCRE26 Mortgage Trust – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF NORTH CAROLINA	)	 
	 	):  ss.	 
	COUNTY OF MECKLENBURG	)	 

 

On this
29 day of September, 2015, personally appeared before me Cynthia L. Schwartz, to me known (or proved to me on the
basis of satisfactory evidence) to be a Director of Wells Forgo Bank, National Association, a national banking association,
that executed the within and foregoing instrument, and acknowledged that said instrument to be the free and voluntary act
and deed of said entity, for the uses and purposes therein mentioned, and on oath stated that she was authorized to execute
said instrument, and that by her signature on the instrument the entity upon behalf of which she acted, executed the
instrument.

	 	 
	 	/s/ ERICA L.
    SMITH
	 	Notary

Name:

 

My Commission expires:  July 15, 2017

	 	 
	ERICA L. SMITH

    NOTARY PUBLIC

    GASTON COUNTY
 North Carolina

    My Commission Expires 7/15/2017	 

 

    	 

    	 

    

 

	STATE OF   Maryland                  	)	 
	 	:  ss.:	 
	COUNTY OF   Montgomery               	)	 

 

On the 29th
day of September in the year 2015, before me, the undersigned, personally appeared Brian Hanson, personally known to me or proved
to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument
and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s)
on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument, and
that such individual made such appearance before the undersigned in the Montgomery, Maryland (insert
the city or other political subdivision and the state or county or other place the acknowledgment was taken).

 

	 	/s/ Sheremee D. Griffin
	 	Signature and Office of individual taking acknowledgment

 

This instrument prepared by: 

	 	 	 
	Name:	Sidley Austin LLP	Sheremee D. Griffin
	Address:	787 Seventh Avenue	Montgomery COUNTY, MD
		New York, New York	NOTARY PUBLIC
	 		MY COMMISSION EXPIRES 
	 	 	11/30/2018

 

COMM
2015-CCRE26 Mortgage Trust – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF Delaware                  	)	 
	 	:  ss.:	 
	COUNTY OF New Castle                  	)	 

 

On the 29th day of
October in the year 2015, before me, the undersigned, personally appeared Adam B. Scozzafava, personally known to me or
proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within
instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by
his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted,
executed the instrument, and that such individual made such appearance before the undersigned in the Wilmington, Delaware
(insert the city or other political subdivision and the state or county or other place the acknowledgment was taken).

 

	 	/s/ Christina M. Bader
	 	Signature and Office of individual taking acknowledgment

 

This instrument prepared by: 

	 	 	 
	Name:	Sidley Austin LLP	Christina
    M Bader
	Address:	787 Seventh Avenue	STATE OF DELAWARE
		New York, New York	NOTARY PUBLIC
	 		My Commission Expires:
	 	 	4-15-2016

 

COMM
2015-CCRE26 Mortgage Trust – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF   Maryland     	)	 
	 	:  ss.:	 
	COUNTY OF   Howard     	)	 

  

On the 29th day of October in the year 2015, before me, the undersigned, personally appeared Stacey Gross, personally known to me or
proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument
and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s)
on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument, and
that such individual made such appearance before the undersigned in the  State of Maryland (insert the
city or other political subdivision and the state or county or other place the acknowledgment was taken). 

 

	 	/s/ Amy Martin
	 	Signature and Office of individual taking acknowledgment

 

This instrument prepared by: 

	 	 	 
	Name:	Sidley Austin LLP	AMY MARTIN
	Address:	787 Seventh Avenue	Notary Public
		New York, New York	ANNE ARUNDEL COUNTY
	 		MARYLAND
	 	 	My Commission Expires 2-22-2017

 

COMM
2015-CCRE26 Mortgage Trust – Pooling and Servicing Agreement

 

    	 

    	 

    

 

	STATE OF NEW JERSEY	)	 
	 	 )       ss:	 
	COUNTY OF ESSEX	)	 

  

I CERTIFY that on  29th,
September, 2015, David M. Rodgers, personally came before me and he acknowledged under oath, to my satisfaction, that he is the
Managing Member of Park Bridge Financial LLC, which is the sole member of Park Bridge Advisors LLC, which in turn is the sole
member of Park Bridge Lender Services LLC, a limited liability company, that he is the person named in and who executed the within
instrument, that he signed and delivered this document as the voluntary act and deed of the said limited liability company

 

WITNESS my hand and seal hereto affixed the day and year first above written.

 

	 	/s/ Dedimuni De Zoysa
	 	Notary Public

  

	(Affix Notary Stamp Above)	 	DEDIMUNI DE ZOYSA
		 	NOTARY PUBLIC
	My Commission expires:	12.07.2016	 	State of New Jersey
	 	(Date)	 	My Commission Expires Dec 7 2016
	 	 	 	I.D.# 2415294

 

 

    	 

    	 

    

EXHIBIT A-1

 

FORM OF CLASS A-1 CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-1-1

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-1

 

	Class A-1 Pass-Through Rate: 1.604%	 	
        CUSIP:    12593QBA7

         

        ISIN:        US12593QBA76

         

	Original Aggregate Certificate Balance of the Class A-1 Certificates: $36,162,000	 	Initial Certificate Balance of this Certificate: $36,162,000
	 	 	 
	First Distribution Date: November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: April 2020	 	No.: A-1-[_]

 

This certifies that
[_______] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class A-1 Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D

 

    	A-1-2

    	 

    

 

of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-1 Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class A-1 Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Certificate Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon

 

    	A-1-3

    	 

    

 

presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts, and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any

 

    	A-1-4

    	 

    

 

Excess Liquidation Proceeds Account, the Interest Reserve Account, and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as

 

    	A-1-5

    	 

    

 

provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause

 

    	A-1-6

    	 

    

 

the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced

 

    	A-1-7

    	 

    

 

by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB,

 

    	A-1-8

    	 

    

 

Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-1-9

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class A-1 Certificate to be duly executed.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
A-1 Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating
    Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-1-10

    	 

    

 

EXHIBIT A-2

 

FORM OF CLASS A-2 CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-2-1

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-2

 

	Class A-2 Pass-Through Rate: 2.881%	 	
        CUSIP:    12593QBB5

         

        ISIN:        US12593QBB59

         

	Original Aggregate Certificate Balance of the Class A-2 Certificates: $44,578,000	 	Initial Certificate Balance of this Certificate: $44,578,000
	 	 	 
	First Distribution Date: November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: August 2020	 	No.: A-2-[_]

 

This certifies that
[_______] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with
respect to the Class A-2 Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans
secured by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by
the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant
to the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof,
assents to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by

 

    	A-2-2

    	 

    

 

acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-2 Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class A-2 Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Certificate Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its

 

    	A-2-3

    	 

    

 

agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case and to the extent of the Trust Fund’s interest therein and
specifically excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to
time are subject to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled
or unscheduled payments on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s
interest in any REO Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and
Profits and any security agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security
for any Mortgage Loans; (vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and Reserve Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination
Collection Accounts, the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account, and the
Trust’s interest in any REO Account, including any amounts on deposit therein, assets credited thereto and any

 

    	A-2-4

    	 

    

 

reinvestment
income, as applicable; (x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties;
(xi) a security interest in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights
and remedies under the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage
Loans and the representations and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier
Regular Interests; and (xiv) the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts,
Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower).
As provided in the Pooling and Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other
than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor

 

    	A-2-5

    	 

    

 

of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

    	A-2-6

    	 

    

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any

 

    	A-2-7

    	 

    

 

Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder

 

    	A-2-8

    	 

    

 

has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-2-9

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class A-2 Certificate to be duly executed.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
A-2 Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

 

	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-2-10

    	 

    

 

EXHIBIT A-3

 

FORM OF CLASS A-SB CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-3-1

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-SB

 

	Class A-SB Pass-Through Rate: 3.373%	 	
        CUSIP:    12593QBC3

         

        ISIN:        US12593QBC33

         

	Original Aggregate Certificate Balance of the Class A-SB Certificates: $76,831,000	 	Initial Certificate Balance of this Certificate: $76,831,000
	 	 	 
	First Distribution Date: November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: April 2025	 	No.: A-SB-[_]

 

This certifies that
[_______] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with
respect to the Class A-SB Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans
secured by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by
the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant
to the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof,
assents to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by

 

    	A-3-2

    	 

    

 

acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-SB Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class A-SB Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Certificate Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its

 

    	A-3-3

    	 

    

 

agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account, and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any

 

    	A-3-4

    	 

    

 

reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor

 

    	A-3-5

    	 

    

 

of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

    	A-3-6

    	 

    

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any

 

    	A-3-7

    	 

    

 

Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder

 

    	A-3-8

    	 

    

 

has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-3-9

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class A-SB Certificate to be duly executed.

 

Dated: October 8, 2015

 

	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
A-SB Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

 

	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-3-10

    	 

    

 

EXHIBIT A-4

 

FORM OF CLASS A-3 CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-4-1

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-3

 

	Class A-3 Pass-Through Rate: 3.359%	 	
        CUSIP:    12593QBD1

         

        ISIN:        US12593QBD16

         

	Original Aggregate Certificate Balance of the Class A-3 Certificates: $225,000,000	 	Initial Certificate Balance of this Certificate: $225,000,000
	 	 	 
	First Distribution Date: November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: July 2025	 	No.: A-3-[_]

 

This certifies that
[_______] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with
respect to the Class A-3 Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans
secured by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by
the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant
to the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof,
assents to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by

 

    	A-4-2

    	 

    

 

acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-3 Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class A-3 Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Certificate Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its

 

    	A-4-3

    	 

    

 

agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account, and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any

 

    	A-4-4

    	 

    

 

reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor

 

    	A-4-5

    	 

    

 

of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

    	A-4-6

    	 

    

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any

 

    	A-4-7

    	 

    

 

Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder

 

    	A-4-8

    	 

    

 

has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-4-9

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class A-3 Certificate to be duly executed.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
A-3 Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating
    Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-4-10

    	 

    

 

EXHIBIT A-5

 

FORM OF CLASS A-4 CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-5-1

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-4

 

	Class A-4 Pass-Through Rate: 3.630%	 	
        CUSIP:    12593QBE9

         

        ISIN:        US12593QBE98

         

	Original Aggregate Certificate Balance of the Class A-4 Certificates: $381,056,000	 	Initial Certificate Balance of this Certificate: $381,056,000
	 	 	 
	First Distribution Date: November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: August 2025	 	No.: A-4-[_]

 

This certifies that
[_______] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with
respect to the Class A-4 Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans
secured by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by
the Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant
to the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof,
assents to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by

 

    	A-5-2

    	 

    

 

acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-4 Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class A-4 Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Certificate Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its

 

    	A-5-3

    	 

    

 

agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any

 

    	A-5-4

    	 

    

 

reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor

 

    	A-5-5

    	 

    

 

of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

    	A-5-6

    	 

    

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any

 

    	A-5-7

    	 

    

 

Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder

 

    	A-5-8

    	 

    

 

has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-5-9

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class A-4 Certificate to be duly executed.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory
	 	 	 

 

Certificate of Authentication

 

This is one of the Class
A-4 Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating
    Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory
	 	 	 

 

    	A-5-10

    	 

    

 

EXHIBIT A-6

FORM OF CLASS A-M CERTIFICATE

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

THIS CERTIFICATE IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED.

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

    	A-6-1

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS A-M

	Class A-M Pass-Through Rate:  4.028% 	 	
CUSIP:12593QBG4

ISIN:     US12593QBG47

	 	 	 
	Original Aggregate Certificate Balance of the

Class A-M Certificates:  $47,726,000	 	Initial Certificate Balance of this Certificate as of the Closing Date:  $47,726,000
	 	 	 
	First Distribution Date:  November 13, 2015	 	Cut-off Date:  The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  September 2025	 	No.:  A-M-[_]

This certifies that
[              ] is the registered owner of a beneficial
ownership interest in a Trust Fund, including the distributions to be made with respect to the Class A-M Certificates. The
Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens on commercial, multifamily
and manufactured housing community (if any) properties and held in trust by the Trustee and serviced by the Master Servicer. The
Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing Agreement (as defined
below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions and conditions of
the Pooling and Servicing Agreement and is bound thereby.

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class
X-A, Class A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E,
Class F, Class G, Class H, Class V, Class R and Class LR Certificates (the “Certificates”; the Holders
of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D

    	A-6-2

    	 

    

 

of
the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance hereof, agrees to treat, and take
no action inconsistent with the treatment of, this Certificate in accordance with the preceding sentence for purposes of federal
income taxes, state and local income and franchise taxes and other taxes imposed on or measured by income.

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class A-M Certificates for such Distribution Date, all as more fully described in the Pooling and
Servicing Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each
month, or if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate
may be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

During each Interest
Accrual Period (as defined below), interest on the Class A-M Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Certificate Balance hereof.

Interest accrued on
this Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate,
if any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

All distributions
(other than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its

    	A-6-3

    	 

    

 

agent
(which may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of
such final distribution.

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest
shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held
by the Certificate Administrator may be invested under certain circumstances, and all income and gain realized from investment
of such funds shall accrue for its benefit.

This Certificate is
limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more
specifically set forth herein and in the Pooling and Servicing Agreement.

As provided in the
Pooling and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein
and specifically excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time
to time are subject to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled
or unscheduled payments on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s
interest in any REO Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and
Profits and any security agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security
for any Mortgage Loans; (vii) a security interest in all assets deposited in the Lock Box Accounts, Cash Collateral Accounts, Escrow
Accounts and Reserve Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination
Collection Accounts, the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account and the Trust’s
interest in any REO Account, including any amounts on deposit therein, assets credited thereto and any

    	A-6-4

    	 

    

 

reinvestment
income, as applicable; (x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties;
(xi) a security interest in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the
rights and remedies under the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the
Mortgage Loans and the representations and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii)
the Lower-Tier Regular Interests; and (xiv) the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box
Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest belongs to the related
Borrower). As provided in the Pooling and Servicing Agreement, withdrawals may be made from certain of the above accounts for
purposes other than distributions to Certificateholders.

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

As provided in the
Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

No fee or service
charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor

    	A-6-5

    	 

    

 

of
a sum sufficient to cover any tax, expense or other governmental charge payable in connection with any such transfer.

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling
and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in
the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement
or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend
any provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain
the rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each
Rating Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling
Class Representative or the right of the Controlling Class Representative to receive information under the Pooling and
Servicing Agreement; (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any
material respect the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced
in writing by an Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder,
in respect of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion
Loan Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor. 
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

    	A-6-6

    	 

    

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the
amount of, or delay the timing of, payments received on the Mortgage Loans or Serviced Loan Combinations which are required to
be distributed on any Certificate, without the consent of the Holders of Certificates representing all of the Percentage Interests
of the Class or Classes affected thereby or which are required to be distributed to any Serviced Companion Loan Noteholders without
the consent of such Serviced Companion Loan Noteholders;
	 	 	 

		(ii)	change the percentages of
Voting Rights or Percentage Interests of Holders of Certificates which are required to consent to any action or inaction under
the Pooling and Servicing Agreement;
	 	 	 

		(iii)	alter the Servicing Standard,
the Operating Advisor Standard or obligations of the Master Servicer or the Trustee to make a P&I Advance or a Property Advance,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders; or
	 	 	 

		(iv)	amend any section hereof
which relates to the amendment of the Pooling and Servicing Agreement without the consent of the Holders of all Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders.

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any

    	A-6-7

    	 

    

 

Serviced
Companion Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange
Act, Regulation AB, and/or any related regulatory actions and/or interpretations.

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional
Amount and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB,
Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder
shall have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F
Certificates if the Sole Certificateholder

    	A-6-8

    	 

    

 

has
only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant to the definition
of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the
Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than
60 days prior to the anticipated date of exchange.

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement
shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and
Servicing Agreement.

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or
collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition
pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event
shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the
last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on
the date hereof.

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

    	A-6-9

    	 

    

IN WITNESS WHEREOF,
the Certificate Administrator has caused this Class A-M Certificate to be duly executed.

	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate
of Authentication

This is one of the
Class A-M Certificates referred to in the Pooling and Servicing Agreement.

	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-6-10

    	 

    
 

EXHIBIT A-7

FORM OF CLASS B CERTIFICATE

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

THIS CERTIFICATE IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED.

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

    	A-7-1

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS B

	Class B Pass-Through Rate:  A per annum rate equal to the Weighted Average Net Mortgage Pass-Through Rate	 	
CUSIP:12593QBH2

ISIN:     US12593QBH20

	 	 	 
	Original Aggregate Certificate Balance of the

Class B Certificates:  $72,272,000	 	Initial Certificate Balance of this Certificate as of the Closing Date:  $72,272,000
	 	 	 
	First Distribution Date:  November 13, 2015	 	Cut-off Date:  The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  September 2025	 	No.:  B-[_]

 

This certifies that
[              ] is the registered owner of a beneficial
ownership interest in a Trust Fund, including the distributions to be made with respect to the Class B Certificates. The Trust
Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens on commercial, multifamily
and manufactured housing community (if any) properties and held in trust by the Trustee and serviced by the Master Servicer. The
Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing Agreement (as defined
below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions and conditions of
the Pooling and Servicing Agreement and is bound thereby.

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class
X-A, Class A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E,
Class F, Class G, Class H, Class V, Class R and Class LR Certificates (the “Certificates”; the Holders
of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

    	A-7-2

    	 

    

This Certificate represents
a beneficial interest in a “regular interest” in a “real estate mortgage investment conduit”, as those
terms are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder
of this Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate
in accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and
other taxes imposed on or measured by income.

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class B Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

During each Interest
Accrual Period (as defined below), interest on the Class B Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Certificate Balance hereof.

Interest accrued on
this Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate,
if any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

All distributions
(other than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or,

    	A-7-3

    	 

    

 

otherwise,
by check mailed by first-class mail to the address set forth therefor in the Certificate Register. The final distribution on each
Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the office of the Certificate
Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified
in the notice to Holders of such final distribution.

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest
shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held
by the Certificate Administrator may be invested under certain circumstances, and all income and gain realized from investment
of such funds shall accrue for its benefit.

This Certificate is
limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more
specifically set forth herein and in the Pooling and Servicing Agreement.

As provided in the
Pooling and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein
and specifically excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time
to time are subject to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled
or unscheduled payments on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s
interest in any REO Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and
Profits and any security agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security
for any Mortgage Loans; (vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and Reserve Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection

    	A-7-4

    	 

    

 

Account,
the Serviced Loan Combination Collection Accounts, the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest
Reserve Account and the Trust’s interest in any REO Account, including any amounts on deposit therein, assets credited thereto
and any reinvestment income, as applicable; (x) a security interest in any environmental indemnity agreements relating to the
Mortgaged Properties; (xi) a security interest in all insurance policies with respect to the Mortgage Loans and the Mortgaged
Properties; (xii) the rights and remedies under the Mortgage Loan Purchase Agreements relating to document delivery requirements
with respect to the Mortgage Loans and the representations and warranties of the related Mortgage Loan Seller regarding its Mortgage
Loans; (xiii) the Lower-Tier Regular Interests; and (xiv) the proceeds of the foregoing (other than any interest earned on deposits
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest belongs
to the related Borrower). As provided in the Pooling and Servicing Agreement, withdrawals may be made from certain of the above
accounts for purposes other than distributions to Certificateholders.

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

As provided in the
Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

No fee or service
charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as

    	A-7-5

    	 

    

 

provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling
and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in
the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement
or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend
any provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain
the rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each
Rating Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling
Class Representative or the right of the Controlling Class Representative to receive information under the Pooling and
Servicing Agreement; (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any
material respect the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced
in writing by an Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder,
in respect of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion
Loan Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor. 
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

    	A-7-6

    	 

    

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard
to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan
Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion
Loan Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the
amount of, or delay the timing of, payments received on the Mortgage Loans or Serviced Loan Combinations which are required to
be distributed on any Certificate, without the consent of the Holders of Certificates representing all of the Percentage Interests
of the Class or Classes affected thereby or which are required to be distributed to any Serviced Companion Loan Noteholders without
the consent of such Serviced Companion Loan Noteholders;
	 	 	 

		(ii)	change the percentages of
Voting Rights or Percentage Interests of Holders of Certificates which are required to consent to any action or inaction under
the Pooling and Servicing Agreement;
	 	 	 

		(iii)	alter the Servicing Standard,
the Operating Advisor Standard or obligations of the Master Servicer or the Trustee to make a P&I Advance or a Property Advance,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders; or
	 	 	 

		(iv)	amend any section hereof
which relates to the amendment of the Pooling and Servicing Agreement without the consent of the Holders of all Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders.

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any

    	A-7-7

    	 

    

 

Serviced
Companion Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange
Act, Regulation AB, and/or any related regulatory actions and/or interpretations.

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional
Amount and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB,
Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder
shall have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F
Certificates if the Sole Certificateholder

    	A-7-8

    	 

    

 

has
only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant to the definition
of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the
Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than
60 days prior to the anticipated date of exchange.

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement
shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and
Servicing Agreement.

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or
collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition
pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event
shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the
last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on
the date hereof.

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

    	A-7-9

    	 

    

IN WITNESS WHEREOF,
the Certificate Administrator has caused this Class B Certificate to be duly executed.

	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate
of Authentication

This is one of the
Class B Certificates referred to in the Pooling and Servicing Agreement.

	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-7-10

    	 

    

 

EXHIBIT A-8

FORM OF CLASS C CERTIFICATE

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

THIS CERTIFICATE IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED.

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

    	A-8-1

    	 

    

  

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS C

	Class C Pass-Through Rate:  A per annum rate equal to the Weighted Average Net Mortgage Pass-Through Rate	 	
CUSIP:12593QBJ8

ISIN:    US12593QBJ85

	 	 	 
	Original Aggregate Certificate Balance of the

Class C Certificates:  $54,545,000	 	Initial Certificate Balance of this Certificate as of the Closing Date:  $54,545,000
	 	 	 
	First Distribution Date:  November 13, 2015	 	Cut-off Date:  The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  September 2025	 	No.:  C-[_]

 

This certifies that
[              ] is the registered owner of a beneficial
ownership interest in a Trust Fund, including the distributions to be made with respect to the Class C Certificates. The Trust
Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens on commercial, multifamily
and manufactured housing community (if any) properties and held in trust by the Trustee and serviced by the Master Servicer. The
Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing Agreement (as defined
below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions and conditions of
the Pooling and Servicing Agreement and is bound thereby.

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class
X-A, Class A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E,
Class F, Class G, Class H, Class V, Class R and Class LR Certificates (the “Certificates”; the Holders
of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

    	A-8-2

    	 

    

This Certificate represents
a beneficial interest in a “regular interest” in a “real estate mortgage investment conduit”, as those
terms are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder
of this Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate
in accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and
other taxes imposed on or measured by income.

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class C Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

During each Interest
Accrual Period (as defined below), interest on the Class C Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Certificate Balance hereof.

Interest accrued on
this Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate,
if any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

All distributions
(other than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or,

    	A-8-3

    	 

    

otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest
shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held
by the Certificate Administrator may be invested under certain circumstances, and all income and gain realized from investment
of such funds shall accrue for its benefit.

This Certificate is
limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more
specifically set forth herein and in the Pooling and Servicing Agreement.

As provided in the
Pooling and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein
and specifically excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time
to time are subject to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled
or unscheduled payments on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s
interest in any REO Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and
Profits and any security agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security
for any Mortgage Loans; (vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and Reserve Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection

    	A-8-4

    	 

    

 

Account,
the Serviced Loan Combination Collection Accounts, the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest
Reserve Account and the Trust’s interest in any REO Account, including any amounts on deposit therein, assets credited thereto
and any reinvestment income, as applicable; (x) a security interest in any environmental indemnity agreements relating to the
Mortgaged Properties; (xi) a security interest in all insurance policies with respect to the Mortgage Loans and the Mortgaged
Properties; (xii) the rights and remedies under the Mortgage Loan Purchase Agreements relating to document delivery requirements
with respect to the Mortgage Loans and the representations and warranties of the related Mortgage Loan Seller regarding its Mortgage
Loans; (xiii) the Lower-Tier Regular Interests; and (xiv) the proceeds of the foregoing (other than any interest earned on deposits
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest belongs
to the related Borrower). As provided in the Pooling and Servicing Agreement, withdrawals may be made from certain of the above
accounts for purposes other than distributions to Certificateholders.

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

As provided in the
Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

No fee or service
charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as

    	A-8-5

    	 

    

 

provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling
and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in
the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement
or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend
any provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain
the rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each
Rating Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling
Class Representative or the right of the Controlling Class Representative to receive information under the Pooling and
Servicing Agreement; (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any
material respect the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced
in writing by an Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder,
in respect of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion
Loan Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor. 
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

    	A-8-6

    	 

    

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard
to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan
Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion
Loan Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the
amount of, or delay the timing of, payments received on the Mortgage Loans or Serviced Loan Combinations which are required to
be distributed on any Certificate, without the consent of the Holders of Certificates representing all of the Percentage Interests
of the Class or Classes affected thereby or which are required to be distributed to any Serviced Companion Loan Noteholders without
the consent of such Serviced Companion Loan Noteholders;
	 	 	 

		(ii)	change the percentages of
Voting Rights or Percentage Interests of Holders of Certificates which are required to consent to any action or inaction under
the Pooling and Servicing Agreement;
	 	 	 

		(iii)	alter the Servicing Standard,
the Operating Advisor Standard or obligations of the Master Servicer or the Trustee to make a P&I Advance or a Property Advance,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders; or
	 	 	 

		(iv)	amend any section hereof
which relates to the amendment of the Pooling and Servicing Agreement without the consent of the Holders of all Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders.

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any

    	A-8-7

    	 

    

 

Serviced
Companion Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange
Act, Regulation AB, and/or any related regulatory actions and/or interpretations.

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional
Amount and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB,
Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder
shall have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F
Certificates if the Sole Certificateholder

    	A-8-8

    	 

    

 

has
only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant to the definition
of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the
Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than
60 days prior to the anticipated date of exchange.

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement
shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and
Servicing Agreement.

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or
collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition
pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event
shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the
last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on
the date hereof.

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

    	A-8-9

    	 

    

IN WITNESS WHEREOF,
the Certificate Administrator has caused this Class C Certificate to be duly executed.

	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate
of Authentication

This is one of the
Class C Certificates referred to in the Pooling and Servicing Agreement.

	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-8-10

    	 

    

 

EXHIBIT A-9

FORM OF CLASS D CERTIFICATE

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

THIS CERTIFICATE IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A BENEFICIAL INTEREST IN A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT
CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED.

 

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

    	A-9-1

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS D

	Class D Pass-Through Rate:  A per annum rate equal to (i) the Weighted Average Net Mortgage Pass-Through Rate, minus (ii) 1.000%, but no less than 0.000%	 	
CUSIP:12593QBK5

ISIN:    US12593QBK58

	 	 	 
	Original Aggregate Certificate Balance of the

Class D Certificates:  $61,363,000	 	Initial Certificate Balance of this Certificate:  $61,363,000
	 	 	 
	First Distribution Date:  November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  September 2025	 	No.:  D-[_]

 

This certifies that
[              ] is the registered owner of a beneficial
ownership interest in a Trust Fund, including the distributions to be made with respect to the Class D Certificates. The Trust
Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens on commercial, multifamily
and manufactured housing community (if any) properties and held in trust by the Trustee and serviced by the Master Servicer. The
Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing Agreement (as defined
below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions and conditions of
the Pooling and Servicing Agreement and is bound thereby.

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class
X-A, Class A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E,
Class F, Class G, Class H, Class V, Class R and Class LR Certificates (the “Certificates”; the Holders
of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

    	A-9-2

    	 

    

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class D Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

During each Interest
Accrual Period (as defined below), interest on the Class D Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Certificate Balance hereof.

Interest accrued on
this Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate,
if any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

All distributions
(other than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate

    	A-9-3

    	 

    

 

Register.
The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate
at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar acting
as such agent) that is specified in the notice to Holders of such final distribution.

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest
shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held
by the Certificate Administrator may be invested under certain circumstances, and all income and gain realized from investment
of such funds shall accrue for its benefit.

This Certificate is
limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more
specifically set forth herein and in the Pooling and Servicing Agreement.

As provided in the
Pooling and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein
and specifically excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time
to time are subject to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled
or unscheduled payments on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s
interest in any REO Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and
Profits and any security agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security
for any Mortgage Loans; (vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and Reserve Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination
Collection Accounts, the Distribution Accounts, any

    	A-9-4

    	 

    

 

Excess
Liquidation Proceeds Account, the Interest Reserve Account and the Trust’s interest in any REO Account, including any amounts
on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security interest in any environmental
indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance policies with respect to
the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan Purchase Agreements relating
to document delivery requirements with respect to the Mortgage Loans and the representations and warranties of the related Mortgage
Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv) the proceeds of the foregoing (other
than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts,
to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing Agreement, withdrawals
may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

As provided in the
Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

No fee or service
charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in

    	A-9-5

    	 

    

 

connection
with such transfer. The Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense
or other governmental charge payable in connection with any such transfer.

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling
and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in
the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement
or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend
any provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain
the rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each
Rating Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling
Class Representative or the right of the Controlling Class Representative to receive information under the Pooling and
Servicing Agreement; (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any
material respect the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced
in writing by an Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder,
in respect of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion
Loan Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor. 
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

    	A-9-6

    	 

    

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard
to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan
Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion
Loan Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the
amount of, or delay the timing of, payments received on the Mortgage Loans or Serviced Loan Combinations which are required to
be distributed on any Certificate, without the consent of the Holders of Certificates representing all of the Percentage Interests
of the Class or Classes affected thereby or which are required to be distributed to any Serviced Companion Loan Noteholders without
the consent of such Serviced Companion Loan Noteholders;
	 	 	 

		(ii)	change the percentages of
Voting Rights or Percentage Interests of Holders of Certificates which are required to consent to any action or inaction under
the Pooling and Servicing Agreement;
	 	 	 

		(iii)	alter the Servicing Standard,
the Operating Advisor Standard or obligations of the Master Servicer or the Trustee to make a P&I Advance or a Property Advance,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders; or
	 	 	 

		(iv)	amend any section hereof
which relates to the amendment of the Pooling and Servicing Agreement without the consent of the Holders of all Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders.

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any

    	A-9-7

    	 

    

 

Serviced
Companion Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange
Act, Regulation AB, and/or any related regulatory actions and/or interpretations.

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional
Amount and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB,
Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder
shall have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F
Certificates if the Sole Certificateholder

    	A-9-8

    	 

    

 

has
only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant to the definition
of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the
Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than
60 days prior to the anticipated date of exchange.

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement
shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and
Servicing Agreement.

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or
collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition
pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event
shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the
last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on
the date hereof.

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-9-9

    	 

    

IN WITNESS WHEREOF,
the Certificate Administrator has caused this Class D Certificate to be duly executed.

	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate
of Authentication

This is one of the
Class D Certificates referred to in the Pooling and Servicing Agreement.

	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-9-10

    	 

    

 

EXHIBIT
A-10

FORM OF CLASS E [RULE 144A] 1
[REG S]2 CERTIFICATE

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3

THIS CERTIFICATE HAS NOT BEEN AND
WILL NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE
REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND
ONLY (A)(1) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN
INSTITUTIONAL INVESTOR THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (“QUALIFIED INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER
QUALIFIED INSTITUTIONAL BUYER, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER
IS BEING MADE IN RELIANCE ON RULE 144A, (3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL
INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER
THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT
TO THE CLASS R AND CLASS LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-“U.S. PERSON” IN AN “OFFSHORE

 

 

1
For Rule 144A Global Certificates only.

2
For Reg S Global Certificates only.

3
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

    	A-10-1

    	 

    

TRANSACTION” AS SUCH TERMS
ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH
ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT.  A TRANSFEREE IS ALSO REQUIRED
TO DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT
IF SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

PRINCIPAL PAYMENTS ON THIS CERTIFICATE
ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE OF THIS CERTIFICATE AT ANY TIME
MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

THIS CERTIFICATE IS SUBORDINATE TO
ONE OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO HEREIN.

    	A-10-2

    	 

    

THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN, AS DEFINED
IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS
TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE
INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE COLLECTIVE INVESTMENT
FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA), AN INSURANCE
COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR LAW TO INCLUDE
ASSETS OF PLANS, OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH PLAN, OTHER THAN AN INSURANCE
COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE SUBSEQUENT HOLDING OF SUCH CERTIFICATE
BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406 AND 407 OF ERISA, AND CODE
SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95 60 OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR LAW. TRANSFEREES OF THIS
CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED EITHER (I) TO DELIVER A LETTER IN THE FORM ATTACHED TO THE POOLING
AND SERVICING AGREEMENT TO SUCH EFFECT, OR (II) IN THE EVENT THE TRANSFEREE IS SUCH AN ENTITY SPECIFIED IN (A) OR (B) ABOVE, SUCH
ENTITY SHALL PROVIDE ANY OPINIONS OF COUNSEL, OFFICERS’ CERTIFICATES OR AGREEMENTS AS MAY BE REQUIRED BY, AND IN FORM AND
SUBSTANCE SATISFACTORY TO, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR AND THE CERTIFICATE REGISTRAR, TO THE EFFECT THAT THE PURCHASE
AND HOLDING OF THE CERTIFICATES BY OR ON BEHALF OF A PLAN WILL NOT CONSTITUTE OR RESULT IN A NON EXEMPT PROHIBITED TRANSACTION
WITHIN THE MEANING OF SECTION 406 OR 407 OF ERISA OR CODE SECTION 4975 (OR SIMILAR VIOLATION OF SIMILAR LAW), AND WILL NOT SUBJECT
THE MASTER SERVICER, THE SPECIAL SERVICER, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE TRUSTEE OR
THE CERTIFICATE REGISTRAR TO ANY OBLIGATION OR LIABILITY. THE TRANSFEREE OF A BENEFICIAL INTEREST IN A “GLOBAL CERTIFICATE”
THAT IS A “RESTRICTED CERTIFICATE” (EACH AS DEFINED IN THE POOLING AND SERVICING AGREEMENT) SHALL BE DEEMED TO REPRESENT
THAT IT IS NOT A PLAN OR A PERSON ACTING ON BEHALF OF ANY PLAN OR USING THE ASSETS OF ANY PLAN TO ACQUIRE SUCH INTEREST, OTHER
THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE

    	A-10-3

    	 

    

SUBSEQUENT
HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406
AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95-60, OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR
LAW.

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

[THIS CERTIFICATE HAS NOT BEEN AND
WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4

 

4
For Reg S Global Certificates only.

 

    	A-10-4

    	 

    

  

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS E

	Class E Pass-Through Rate:  3.250%	 	
CUSIP:
12593QAL45

              U20198AF16

              12593QAM27

 

ISIN:
    US12593QAL418

              USU20198AF149

              US12593QAM2410

	 	 	 
	Original Aggregate Certificate Balance of the

Class E Certificates:  $15,000,000	 	Initial Certificate Balance of this Certificate:  $[_]
	 	 	 
	First Distribution Date:  November 13, 2015	 	Cut-off Date:  The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  September 2025	 	No.:  E-[_]

 

This certifies that
[              ] is the registered owner of a beneficial
ownership interest in a Trust Fund, including the distributions to be made with respect to the Class E Certificates. The Trust
Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens on commercial, multifamily
and manufactured housing community (if any) properties and held in trust by the Trustee and serviced by the Master Servicer. The
Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing Agreement (as defined
below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions and conditions of
the Pooling and Servicing Agreement and is bound thereby.

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the

 

 

5
For Rule 144A Certificates

6
For Regulation S Certificates

7 For IAI Certificates

8
For Rule 144A Certificates

9
For Regulation S Certificates

10 For IAI Certificates

 

    	A-10-5

    	 

    

 

“Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class
X-A, Class A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E,
Class F, Class G, Class H, Class V, Class R and Class LR Certificates (the “Certificates”; the Holders
of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then distributable,
if any, allocable to the Class E Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015.

During each Interest
Accrual Period (as defined below), interest on the Class E Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Certificate Balance hereof.

Interest accrued on
this Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate,
if any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

    	A-10-6

    	 

    

All distributions
(other than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest
shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held
by the Certificate Administrator may be invested under certain circumstances, and all income and gain realized from investment
of such funds shall accrue for its benefit.

This Certificate is
limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more
specifically set forth herein and in the Pooling and Servicing Agreement.

As provided in the
Pooling and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein
and specifically excluding any

    	A-10-7

    	 

    

 

interest
of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject to the Pooling and
Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments on or collections
in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO Property; (iv) all
revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security agreements
related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans; (vii) a
security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts;
(viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts, the Distribution
Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account, and the Trust’s interest in any REO Account,
including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security interest
in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance policies
with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan Purchase
Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

As provided in the
Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate

    	A-10-8

    	 

    

 

Administrator,
the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge
to the contrary.

No fee or service
charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling
and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in
the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement
or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend
any provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain
the rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each
Rating Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling
Class Representative or the right of the Controlling Class Representative to receive information under the Pooling and
Servicing Agreement; (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any
material respect the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced
in writing by an Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder,
in respect of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion
Loan Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at

    	A-10-9

    	 

    

 

the
sole cost and expense of the Depositor.  Such amendment (a) shall not materially increase the obligations of the Depositor,
the Trustee, the Paying Agent, the Certificate Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master
Servicer or the Special Servicer without such party’s consent; and (b) shall not adversely affect in any material respect
the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in the case
of clauses (iii) through (v) above by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class,
receipt of a No Downgrade Confirmation from each applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard
to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan
Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions
of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion
Loan Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the
amount of, or delay the timing of, payments received on the Mortgage Loans or Serviced Loan Combinations which are required to
be distributed on any Certificate, without the consent of the Holders of Certificates representing all of the Percentage Interests
of the Class or Classes affected thereby or which are required to be distributed to any Serviced Companion Loan Noteholders without
the consent of such Serviced Companion Loan Noteholders;
	 	 	 

		(ii)	change the percentages of
Voting Rights or Percentage Interests of Holders of Certificates which are required to consent to any action or inaction under
the Pooling and Servicing Agreement;
	 	 	 

		(iii)	alter the Servicing Standard,
the Operating Advisor Standard or obligations of the Master Servicer or the Trustee to make a P&I Advance or a Property Advance,
without the consent of the Holders of Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders; or
	 	 	 

		(iv)	amend any section hereof
which relates to the amendment of the Pooling and Servicing Agreement without the consent of the Holders of all Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders.

    	A-10-10

    	 

    

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

    	A-10-11

    	 

    
		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional
Amount and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB,
Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder
shall have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F
Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class
X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and
Class LR Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by
clause (ii) of Section 9.01(a) of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling
and Servicing Agreement no later than 60 days prior to the anticipated date of exchange.

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement
shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and
Servicing Agreement.

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or
collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition
pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event
shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the
last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on
the date hereof.

    	A-10-12

    	 

    

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

    	A-10-13

    	 

    

IN WITNESS WHEREOF,
the Certificate Administrator has caused this Class E Certificate to be duly executed.

	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate
of Authentication

This is one of the
Class E Certificates referred to in the Pooling and Servicing Agreement.

	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-10-14

    	 

    

 

EXHIBIT
A-11

 

FORM
OF CLASS F [RULE 144A]1 [REG S]2 CERTIFICATE

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]3

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS,
AND ONLY (A)(1) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG
AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO
AN INSTITUTIONAL INVESTOR THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (“QUALIFIED INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER
QUALIFIED INSTITUTIONAL BUYER, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER
IS BEING MADE IN RELIANCE ON RULE 144A, (3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL
INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER
THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT
TO THE CLASS R AND CLASS LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-“U.S. PERSON” IN AN “OFFSHORE 

 

 

 

1 For
Rule 144A Global Certificates only.

 

2 For
Reg S Global Certificates only.

 

3 Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-11-1

    	 

    

 

TRANSACTION”
AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN
ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE
INITIAL INVESTOR IN THIS CERTIFICATE, AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN
INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT.  A TRANSFEREE IS ALSO REQUIRED TO DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT
D-1 TO THE POOLING AND SERVICING AGREEMENT IF SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO
A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH
TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A.

 

ANY
HOLDER DESIRING TO EFFECT A TRANSFER OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR,
THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE, THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT
MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS
CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE CERTIFICATE ADMINISTRATOR, THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE
AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

PRINCIPAL
PAYMENTS ON THIS CERTIFICATE ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

TRANSFERS
AND EXCHANGES OF PORTIONS OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED
TO BELOW.

 

THIS
CERTIFICATE IS SUBORDINATE TO ONE OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

 

    	A-11-2

    	 

    

 

THIS
CERTIFICATE SHOULD NOT BE PURCHASED BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING
AN INDIVIDUAL RETIREMENT ACCOUNT OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS
AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR
LAW”) WHICH IS TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”),
OR (B) A COLLECTIVE INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE
COLLECTIVE INVESTMENT FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF
ERISA), AN INSURANCE COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR
LAW TO INCLUDE ASSETS OF PLANS, OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH PLAN, OTHER
THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE SUBSEQUENT
HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406
AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95 60 OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR
LAW. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED EITHER (I) TO DELIVER A LETTER IN
THE FORM ATTACHED TO THE POOLING AND SERVICING AGREEMENT TO SUCH EFFECT, OR (II) IN THE EVENT THE TRANSFEREE IS SUCH AN ENTITY
SPECIFIED IN (A) OR (B) ABOVE, SUCH ENTITY SHALL PROVIDE ANY OPINIONS OF COUNSEL, OFFICERS’ CERTIFICATES OR AGREEMENTS AS
MAY BE REQUIRED BY, AND IN FORM AND SUBSTANCE SATISFACTORY TO, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR AND THE CERTIFICATE
REGISTRAR, TO THE EFFECT THAT THE PURCHASE AND HOLDING OF THE CERTIFICATES BY OR ON BEHALF OF A PLAN WILL NOT CONSTITUTE OR RESULT
IN A NON EXEMPT PROHIBITED TRANSACTION WITHIN THE MEANING OF SECTION 406 OR 407 OF ERISA OR CODE SECTION 4975 (OR SIMILAR VIOLATION
OF SIMILAR LAW), AND WILL NOT SUBJECT THE MASTER SERVICER, THE SPECIAL SERVICER, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR,
THE OPERATING ADVISOR, THE TRUSTEE OR THE CERTIFICATE REGISTRAR TO ANY OBLIGATION OR LIABILITY. THE TRANSFEREE OF A BENEFICIAL
INTEREST IN A “GLOBAL CERTIFICATE” THAT IS A “RESTRICTED CERTIFICATE” (EACH AS DEFINED IN THE POOLING
AND SERVICING AGREEMENT) SHALL BE DEEMED TO REPRESENT THAT IT IS NOT A PLAN OR A PERSON ACTING ON BEHALF OF ANY PLAN OR USING
THE ASSETS OF ANY PLAN TO ACQUIRE SUCH INTEREST, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER
CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE

 

    	A-11-3

    	 

    

 

SUBSEQUENT
HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406
AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95-60, OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR
LAW.

 

FOR
U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE
INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS
AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO
A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4

 

 

 

4 For
Reg S Global Certificates only.

  

    	A-11-4

    	 

    

 

COMM
2015-CCRE26 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS F

		 	 	 
	Class F Pass-Through Rate:  3.250%	 	CUSIP:	12593QAN05
		 	 	U20198AG96
	 	 	 	12593QAP57
	 	 	 
	 	 	ISIN:	US12593QAN078
	 	 	 	USU20198AG969
	 	 	 	US12593QAP5410
	 	 	 
	Original Aggregate Certificate Balance of the Class F Certificates:  $13,636,000	 	Initial Certificate Balance of this Certificate:   $[_]
	 	 	 
	First Distribution Date:  November 13, 2015	 	Cut-off Date:  The close of business on the
    later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  September 2025	 	No.:  F-[_]

 

This
certifies that [              ] is the registered
owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the Class F
Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens
on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The
Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between
the Depositor, Wells Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”),
CWCapital Asset Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC,
as operating advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the

 

 

 

5 For
Rule 144A Certificates

 

6 For
Regulation S Certificates

 

7 For
IAI Certificates

 

8 For
Rule 144A Certificates

 

9 For
Regulation S Certificates

 

10 For
IAI Certificates

 

    	A-11-5

    	 

    

 

“Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class
X-A, Class A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E,
Class F, Class G, Class H, Class V, Class R and Class LR Certificates (the “Certificates”; the Holders
of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate
Administrator under the Pooling and Servicing Agreement. In the event that there is any conflict between any provision of this
Certificate and any provision of the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to
the extent of such inconsistency.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate
Administrator, will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination
Date (each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on
the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then
distributable, if any, allocable to the Class F Certificates for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth
day of each month, or if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015.

 

During
each Interest Accrual Period (as defined below), interest on the Class F Certificates will be calculated based on a 360-day
year consisting of twelve 30-day months on the outstanding Certificate Balance hereof.

 

Interest
accrued on this Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this
Certificate, if any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement.
The “Interest Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding
the month in which such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

    	A-11-6

    	 

    

 

All
distributions (other than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose
names the Certificates are registered at the close of business on each Record Date, which will be the close of business on the
last Business Day of the calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be
made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date,
by wire transfer of immediately available funds to the account of such Holder at a bank or other entity located in the United
States and having appropriate facilities therefor if such Holder shall have provided the Paying Agent with wire instructions in
writing at least five Business Days prior to the related Record Date, or, otherwise, by check mailed by first-class mail to the
address set forth therefor in the Certificate Register. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent (which
may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such
final distribution.

 

Any
funds not distributed on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall,
on such date, be set aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates
as to which notice of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been
surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail
a second notice to the remaining non-tendering Certificateholders, at their last addresses shown in the Certificate Register,
to surrender their Certificates for cancellation in order to receive, from such funds held, the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. If within two years after the second notice any such Certificates shall
not have been surrendered for cancellation, the Paying Agent shall distribute to the Certificate Administrator all amounts distributable
to the Holders thereof, and the Certificate Administrator shall thereafter hold such amounts for the benefit of such Holders until
the earlier of (i) its termination as Certificate Administrator under the Pooling and Servicing Agreement and the transfer of
such amounts to a successor certificate administrator and (ii) the termination of the Trust Fund and distribution of such
amounts to the Residual Certificateholders. No interest shall accrue or be payable to any Certificateholder on any amount held
as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance
with the Pooling and Servicing Agreement. Such funds held by the Certificate Administrator may be invested under certain circumstances,
and all income and gain realized from investment of such funds shall accrue for its benefit.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage
Loans, as more specifically set forth herein and in the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s
interest therein and specifically excluding any

 

    	A-11-7

    	 

    

 

interest
of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject to the Pooling and
Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments on or collections
in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO Property; (iv) all
revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security agreements
related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans; (vii) a
security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts;
(viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts, the Distribution
Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account, and the Trust’s interest in any REO Account,
including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security interest
in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance policies
with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan Purchase
Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing
Agreement for the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Certificate Administrator.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable
or exchangeable only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment
and transfer (executed by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling
and Servicing Agreement. Upon surrender for registration of transfer of this Certificate, subject to the requirements Article
V of the Pooling and Servicing Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly
authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized denominations
of a like aggregate denomination as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate
Registrar in accordance with Article V of the Pooling and Servicing Agreement.

 

Prior
to due presentation of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer,
the Operating Advisor, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of
any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of
the Depositor, the Master Servicer, the Special Servicer, the Certificate

 

    	A-11-8

    	 

    

 

Administrator,
the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge
to the contrary.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited
Investors as provided in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The
Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental
charge payable in connection with any such transfer.

 

The
Pooling and Servicing Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the
Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders
or Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of
the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing
Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may
be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to
amend any provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to
maintain the rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities
by each Rating Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling
Class Representative or the right of the Controlling Class Representative to receive information under the Pooling and
Servicing Agreement; (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any
material respect the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced
in writing by an Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan
Noteholder, in respect of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and
Serviced Companion Loan Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance
with Rule 17g-5 of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to
the provisions of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and
Servicing Agreement under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing
Agreement such other provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling
and Servicing Agreement to the extent necessary to make those provisions consistent with, and conform to, the modifications made
pursuant to clause (A); provided that any amendment pursuant to this clause (vi) shall be at

 

    	A-11-9

    	 

    

 

the
sole cost and expense of the Depositor.  Such amendment (a) shall not materially increase the obligations of the Depositor,
the Trustee, the Paying Agent, the Certificate Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master
Servicer or the Special Servicer without such party’s consent; and (b) shall not adversely affect in any material respect
the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in the case
of clauses (iii) through (v) above by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class,
receipt of a No Downgrade Confirmation from each applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The
Pooling and Servicing Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent
of the Holders of Certificates representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:

 

		(i)	reduce
                                         in any manner the amount of, or delay the timing of, payments received on the Mortgage
                                         Loans or Serviced Loan Combinations which are required to be distributed on any Certificate,
                                         without the consent of the Holders of Certificates representing all of the Percentage
                                         Interests of the Class or Classes affected thereby or which are required to be distributed
                                         to any Serviced Companion Loan Noteholders without the consent of such Serviced Companion
                                         Loan Noteholders;

 

		(ii)	change
                                         the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
                                         are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter
                                         the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
                                         or the Trustee to make a P&I Advance or a Property Advance, without the consent of
                                         the Holders of Certificates representing all of the Percentage Interests of the Class
                                         or Classes affected thereby and the consent of any affected Serviced Companion Loan Noteholders;
                                         or

 

		(iv)	amend
                                         any section hereof which relates to the amendment of the Pooling and Servicing Agreement
                                         without the consent of the Holders of all Certificates representing all of the Percentage
                                         Interests of the Class or Classes affected thereby and the consent of any affected Serviced
                                         Companion Loan Noteholders.

 

    	A-11-10

    	 

    

 

Further,
the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee,
at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan
Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent
as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification
of the Grantor Trust as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all
times that any Certificates are outstanding; provided, that such action, as evidenced by an Opinion of Counsel
(obtained at the expense of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition
of any such taxes, and would not adversely affect in any material respect the interest of any Certificateholder or, if applicable,
any Serviced Companion Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended,
the Exchange Act, Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The
Certificateholder owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder
exercises such option, the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may
effect an early termination of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee,
the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of
which the aggregate Stated Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance
of the Mortgage Loans as of the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but
not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100%
                                         of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of
                                         the last day of the month preceding such Anticipated Termination Date (less any P&I
                                         Advances previously made on account of principal);

 

		(B)	the
                                         fair market value of all other property included in the Trust Fund as of the last day
                                         of the month preceding such Anticipated Termination Date, as determined by an Independent
                                         appraiser acceptable to the Master Servicer as of a date not more than 30 days prior
                                         to the last day of the month preceding such Distribution Date;

 

		(C)	all
                                         unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
                                         Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage
                                         Rate to the last day of the month preceding such Anticipated Termination Date (less any
                                         P&I Advances previously made on account of interest); and

 

    	A-11-11

    	 

    

 

		(D)	the
                                         aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate,
                                         and unpaid Servicing Compensation, Special Servicing Compensation, Operating Advisor
                                         Fees, Trustee/Certificate Administrator Fees, the CREFC® License Fees
                                         and Trust Fund expenses.

 

In
addition, the Pooling and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the
Class X-B Notional Amount and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1,
Class A-2, Class A-SB, Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced
to zero, the Sole Certificateholder shall have the right to exchange all of the then-outstanding Certificates (other than (i)
the Class X-D, Class X-E and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights
of the Class X-D, Class X-E and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and
(ii) the Class V, Class R and Class LR Certificates) for all of the Mortgage Loans and each REO Property remaining
in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling and Servicing Agreement by giving written
notice to all the parties to the Pooling and Servicing Agreement no later than 60 days prior to the anticipated date of exchange.

 

All
costs and expenses incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with
the purchase of the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and
Servicing Agreement shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator
shall be entitled to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c)
of the Pooling and Servicing Agreement.

 

The
respective obligations and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator,
the Operating Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than
the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as
set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and
the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in
accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its
Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the
later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the
liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided
that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United
Kingdom, living on the date hereof.

 

    	A-11-12

    	 

    

 

Unless
the Certificate of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this
Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-11-13

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Class F Certificate to be duly executed.

	 	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	 	By:	 
	 	 	Authorized Signatory

 

Certificate
of Authentication

 

This
is one of the Class F Certificates referred to in the Pooling and Servicing Agreement.

	 	 	 
	Dated: October 8, 2015	 	 	 
	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating
    Agent
	 	 	 
	 	 	By:	 
	 	 	Authorized Signatory

 

    	A-11-14

    	 

    

 

EXHIBIT
A-12

 

FORM
OF CLASS G [RULE 144A]1 [REG S]2 CERTIFICATE

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]3

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS,
AND ONLY (A)(1) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG
AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO
AN INSTITUTIONAL INVESTOR THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (“QUALIFIED INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER
QUALIFIED INSTITUTIONAL BUYER, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER
IS BEING MADE IN RELIANCE ON RULE 144A, (3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL
INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER
THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT
TO THE CLASS R AND CLASS LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-“U.S. PERSON” IN AN “OFFSHORE

 

 

 

1 For
Rule 144A Global Certificates only.

 

2 For
Reg S Global Certificates only.

 

3 Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-12-1

    	 

    

 

 

TRANSACTION”
AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN
ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE
INITIAL INVESTOR IN THIS CERTIFICATE, AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN
INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT.  A TRANSFEREE IS ALSO REQUIRED TO DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT
D-1 TO THE POOLING AND SERVICING AGREEMENT IF SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO
A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH
TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A.

 

ANY
HOLDER DESIRING TO EFFECT A TRANSFER OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR,
THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE, THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT
MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS
CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE CERTIFICATE ADMINISTRATOR, THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE
AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

PRINCIPAL
PAYMENTS ON THIS CERTIFICATE ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

TRANSFERS
AND EXCHANGES OF PORTIONS OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED
TO BELOW.

 

THIS
CERTIFICATE IS SUBORDINATE TO ONE OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

 

    	A-12-2

    	 

    

 

THIS
CERTIFICATE SHOULD NOT BE PURCHASED BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING
AN INDIVIDUAL RETIREMENT ACCOUNT OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS
AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR
LAW”) WHICH IS TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”),
OR (B) A COLLECTIVE INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE
COLLECTIVE INVESTMENT FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF
ERISA), AN INSURANCE COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR
LAW TO INCLUDE ASSETS OF PLANS, OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH PLAN, OTHER
THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE SUBSEQUENT
HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406
AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95 60 OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR
LAW. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED EITHER (I) TO DELIVER A LETTER IN
THE FORM ATTACHED TO THE POOLING AND SERVICING AGREEMENT TO SUCH EFFECT, OR (II) IN THE EVENT THE TRANSFEREE IS SUCH AN ENTITY
SPECIFIED IN (A) OR (B) ABOVE, SUCH ENTITY SHALL PROVIDE ANY OPINIONS OF COUNSEL, OFFICERS’ CERTIFICATES OR AGREEMENTS AS
MAY BE REQUIRED BY, AND IN FORM AND SUBSTANCE SATISFACTORY TO, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR AND THE CERTIFICATE
REGISTRAR, TO THE EFFECT THAT THE PURCHASE AND HOLDING OF THE CERTIFICATES BY OR ON BEHALF OF A PLAN WILL NOT CONSTITUTE OR RESULT
IN A NON EXEMPT PROHIBITED TRANSACTION WITHIN THE MEANING OF SECTION 406 OR 407 OF ERISA OR CODE SECTION 4975 (OR SIMILAR VIOLATION
OF SIMILAR LAW), AND WILL NOT SUBJECT THE MASTER SERVICER, THE SPECIAL SERVICER, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR,
THE OPERATING ADVISOR, THE TRUSTEE OR THE CERTIFICATE REGISTRAR TO ANY OBLIGATION OR LIABILITY. THE TRANSFEREE OF A BENEFICIAL
INTEREST IN A “GLOBAL CERTIFICATE” THAT IS A “RESTRICTED CERTIFICATE” (EACH AS DEFINED IN THE POOLING
AND SERVICING AGREEMENT) SHALL BE DEEMED TO REPRESENT THAT IT IS NOT A PLAN OR A PERSON ACTING ON BEHALF OF ANY PLAN OR USING
THE ASSETS OF ANY PLAN TO ACQUIRE SUCH INTEREST, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER
CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE

 

    	A-12-3

    	 

    

 

SUBSEQUENT
HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406
AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95-60, OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR
LAW.

 

FOR
U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE
INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS
AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO
A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4

 

 

 

4
For Reg S Global Certificates only.

 

    	A-12-4

    	 

    

 

COMM
2015-CCRE26 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS G

		 	 	 
	Class G Pass-Through Rate:  3.250%	 	CUSIP:	12593QAQ35
			 	U20198AH76
	 	 	 	12593QAR17
	 	 	 
	 	 	ISIN:	US12593QAQ388
	 	 	 	USU20198AH799
	 	 	 	US12593QAR1110
	 	 	 
	Original Aggregate Certificate Balance of the Class G Certificates:  $28,636,000	 	Initial Certificate Balance of this Certificate:   $[_]
	 	 	 
	First Distribution Date:  November 13, 2015	 	Cut-off Date:  The close of business on the
    later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  September 2025	 	No.:  G -[_]

 

This
certifies that [              ] is the registered
owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the Class G
Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens
on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The
Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between
the Depositor, Wells Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”),
CWCapital Asset Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC,
as operating advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the

 

 

 

5 For
Rule 144A Certificates

 

6 For
Regulation S Certificates

 

7 For
IAI Certificates

 

8 For
Rule 144A Certificates

 

9 For
Regulation S Certificates

 

10 For
IAI Certificates

 

    	A-12-5

    	 

    

 

“Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class
X-A, Class A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E,
Class F, Class G, Class H, Class V, Class R and Class LR Certificates (the “Certificates”; the Holders
of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate
Administrator under the Pooling and Servicing Agreement. In the event that there is any conflict between any provision of this
Certificate and any provision of the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to
the extent of such inconsistency.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate
Administrator, will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination
Date (each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on
the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then
distributable, if any, allocable to the Class G Certificates for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth
day of each month, or if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015.

 

During
each Interest Accrual Period (as defined below), interest on the Class G Certificates will be calculated based on a 360-day
year consisting of twelve 30-day months on the outstanding Certificate Balance hereof.

 

Interest
accrued on this Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this
Certificate, if any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement.
The “Interest Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding
the month in which such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

    	A-12-6

    	 

    

 

All
distributions (other than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose
names the Certificates are registered at the close of business on each Record Date, which will be the close of business on the
last Business Day of the calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be
made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date,
by wire transfer of immediately available funds to the account of such Holder at a bank or other entity located in the United
States and having appropriate facilities therefor if such Holder shall have provided the Paying Agent with wire instructions in
writing at least five Business Days prior to the related Record Date, or, otherwise, by check mailed by first-class mail to the
address set forth therefor in the Certificate Register. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent (which
may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such
final distribution.

 

Any
funds not distributed on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall,
on such date, be set aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates
as to which notice of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been
surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail
a second notice to the remaining non-tendering Certificateholders, at their last addresses shown in the Certificate Register,
to surrender their Certificates for cancellation in order to receive, from such funds held, the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. If within two years after the second notice any such Certificates shall
not have been surrendered for cancellation, the Paying Agent shall distribute to the Certificate Administrator all amounts distributable
to the Holders thereof, and the Certificate Administrator shall thereafter hold such amounts for the benefit of such Holders until
the earlier of (i) its termination as Certificate Administrator under the Pooling and Servicing Agreement and the transfer of
such amounts to a successor certificate administrator and (ii) the termination of the Trust Fund and distribution of such
amounts to the Residual Certificateholders. No interest shall accrue or be payable to any Certificateholder on any amount held
as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance
with the Pooling and Servicing Agreement. Such funds held by the Certificate Administrator may be invested under certain circumstances,
and all income and gain realized from investment of such funds shall accrue for its benefit.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage
Loans, as more specifically set forth herein and in the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s
interest therein and specifically excluding any

 

    	A-12-7

    	 

    

 

interest
of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject to the Pooling and
Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments on or collections
in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO Property; (iv) all
revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security agreements
related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans; (vii) a
security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts;
(viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts, the Distribution
Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account, and the Trust’s interest in any REO Account,
including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security interest
in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance policies
with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan Purchase
Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing
Agreement for the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Certificate Administrator.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable
or exchangeable only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment
and transfer (executed by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling
and Servicing Agreement. Upon surrender for registration of transfer of this Certificate, subject to the requirements Article
V of the Pooling and Servicing Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly
authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized denominations
of a like aggregate denomination as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate
Registrar in accordance with Article V of the Pooling and Servicing Agreement.

 

Prior
to due presentation of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer,
the Operating Advisor, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of
any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of
the Depositor, the Master Servicer, the Special Servicer, the Certificate

 

    	A-12-8

    	 

    

 

Administrator,
the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge
to the contrary.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited
Investors as provided in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The
Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental
charge payable in connection with any such transfer.

 

The
Pooling and Servicing Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the
Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders
or Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of
the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing
Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may
be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to
amend any provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to
maintain the rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities
by each Rating Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling
Class Representative or the right of the Controlling Class Representative to receive information under the Pooling and
Servicing Agreement; (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any
material respect the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced
in writing by an Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan
Noteholder, in respect of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and
Serviced Companion Loan Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance
with Rule 17g-5 of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to
the provisions of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and
Servicing Agreement under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing
Agreement such other provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling
and Servicing Agreement to the extent necessary to make those provisions consistent with, and conform to, the modifications made
pursuant to clause (A); provided that any amendment pursuant to this clause (vi) shall be at

 

    	A-12-9

    	 

    

 

the
sole cost and expense of the Depositor.  Such amendment (a) shall not materially increase the obligations of the Depositor,
the Trustee, the Paying Agent, the Certificate Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master
Servicer or the Special Servicer without such party’s consent; and (b) shall not adversely affect in any material respect
the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in the case
of clauses (iii) through (v) above by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class,
receipt of a No Downgrade Confirmation from each applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The
Pooling and Servicing Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent
of the Holders of Certificates representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:

 

		(i)	reduce
                                         in any manner the amount of, or delay the timing of, payments received on the Mortgage
                                         Loans or Serviced Loan Combinations which are required to be distributed on any Certificate,
                                         without the consent of the Holders of Certificates representing all of the Percentage
                                         Interests of the Class or Classes affected thereby or which are required to be distributed
                                         to any Serviced Companion Loan Noteholders without the consent of such Serviced Companion
                                         Loan Noteholders;

 

		(ii)	change
                                         the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
                                         are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter
                                         the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
                                         or the Trustee to make a P&I Advance or a Property Advance, without the consent of
                                         the Holders of Certificates representing all of the Percentage Interests of the Class
                                         or Classes affected thereby and the consent of any affected Serviced Companion Loan Noteholders;
                                         or

 

		(iv)	amend
                                         any section hereof which relates to the amendment of the Pooling and Servicing Agreement
                                         without the consent of the Holders of all Certificates representing all of the Percentage
                                         Interests of the Class or Classes affected thereby and the consent of any affected Serviced
                                         Companion Loan Noteholders.

 

    	A-12-10

    	 

    

 

Further,
the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee,
at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan
Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent
as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification
of the Grantor Trust as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all
times that any Certificates are outstanding; provided, that such action, as evidenced by an Opinion of Counsel
(obtained at the expense of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition
of any such taxes, and would not adversely affect in any material respect the interest of any Certificateholder or, if applicable,
any Serviced Companion Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended,
the Exchange Act, Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The
Certificateholder owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder
exercises such option, the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may
effect an early termination of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee,
the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of
which the aggregate Stated Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance
of the Mortgage Loans as of the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but
not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100%
                                         of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of
                                         the last day of the month preceding such Anticipated Termination Date (less any P&I
                                         Advances previously made on account of principal);

 

		(B)	the
                                         fair market value of all other property included in the Trust Fund as of the last day
                                         of the month preceding such Anticipated Termination Date, as determined by an Independent
                                         appraiser acceptable to the Master Servicer as of a date not more than 30 days prior
                                         to the last day of the month preceding such Distribution Date;

 

		(C)	all
                                         unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
                                         Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage
                                         Rate to the last day of the month preceding such Anticipated Termination Date (less any
                                         P&I Advances previously made on account of interest); and

 

    	A-12-11

    	 

    

 

		(D)	the
                                         aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate,
                                         and unpaid Servicing Compensation, Special Servicing Compensation, Operating Advisor
                                         Fees, Trustee/Certificate Administrator Fees, the CREFC® License Fees
                                         and Trust Fund expenses.

 

In
addition, the Pooling and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the
Class X-B Notional Amount and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1,
Class A-2, Class A-SB, Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced
to zero, the Sole Certificateholder shall have the right to exchange all of the then-outstanding Certificates (other than (i)
the Class X-D, Class X-E and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights
of the Class X-D, Class X-E and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and
(ii) the Class V, Class R and Class LR Certificates) for all of the Mortgage Loans and each REO Property remaining
in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling and Servicing Agreement by giving written
notice to all the parties to the Pooling and Servicing Agreement no later than 60 days prior to the anticipated date of exchange.

 

All
costs and expenses incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with
the purchase of the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and
Servicing Agreement shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator
shall be entitled to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c)
of the Pooling and Servicing Agreement.

 

The
respective obligations and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator,
the Operating Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than
the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as
set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and
the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in
accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its
Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the
later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the
liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided
that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United
Kingdom, living on the date hereof.

 

    	A-12-12

    	 

    

 

Unless
the Certificate of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this
Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-12-13

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Class G Certificate to be duly executed. 

	 	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	 	By:	 
	 	 	Authorized Signatory

 

Certificate
of Authentication

 

This
is one of the Class G Certificates referred to in the Pooling and Servicing Agreement. 

	 	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating
    Agent
	 	 	 
	 	 	By:	 
	 	 	Authorized Signatory

 

    	A-12-14

    	 

    

 

EXHIBIT
A-13

 

FORM
OF CLASS H [RULE 144A]1 [REG S]2 CERTIFICATE

 

[UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE CERTIFICATE REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.]3

 

THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE
MAY BE REOFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS,
AND ONLY (A)(1) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG
AS THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO
AN INSTITUTIONAL INVESTOR THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING
OF RULE 144A (“QUALIFIED INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER
QUALIFIED INSTITUTIONAL BUYER, WHOM THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER
IS BEING MADE IN RELIANCE ON RULE 144A, (3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL
INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER
THE SECURITIES ACT OR ANY ENTITY IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,”
WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT
TO THE CLASS R AND CLASS LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-“U.S. PERSON” IN AN “OFFSHORE

 

 

 

1 For
Rule 144A Global Certificates only.

 

2 For
Reg S Global Certificates only.

 

3 Legend
required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-13-1

    	 

    

  

TRANSACTION”
AS SUCH TERMS ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN
ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE
INITIAL INVESTOR IN THIS CERTIFICATE, AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN
INTEREST HEREIN, IS DEEMED TO HAVE AGREED TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING
AGREEMENT.  A TRANSFEREE IS ALSO REQUIRED TO DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT
D-1 TO THE POOLING AND SERVICING AGREEMENT IF SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO
A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH
TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A.

 

ANY
HOLDER DESIRING TO EFFECT A TRANSFER OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR,
THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE, THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT
MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS
CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL
SERVICER, THE CERTIFICATE ADMINISTRATOR, THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE
AFFILIATES. NEITHER THE CERTIFICATES NOR THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR
INSTRUMENTALITY.

 

PRINCIPAL
PAYMENTS ON THIS CERTIFICATE ARE PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING CERTIFICATE BALANCE
OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE BALANCE SET FORTH BELOW.

 

TRANSFERS
AND EXCHANGES OF PORTIONS OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED
TO BELOW.

 

THIS
CERTIFICATE IS SUBORDINATE TO ONE OR MORE OTHER CLASSES OF CERTIFICATES AS AND TO THE EXTENT SET FORTH IN THE POOLING AND SERVICING
AGREEMENT REFERRED TO HEREIN.

 

    	A-13-2

    	 

    

 

THIS
CERTIFICATE SHOULD NOT BE PURCHASED BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING
AN INDIVIDUAL RETIREMENT ACCOUNT OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS
AMENDED (“ERISA”), OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”),
OR A GOVERNMENTAL PLAN, AS DEFINED IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR
LAW”) WHICH IS TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”),
OR (B) A COLLECTIVE INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE
COLLECTIVE INVESTMENT FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF
ERISA), AN INSURANCE COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH ARE DEEMED PURSUANT TO ERISA OR ANY SIMILAR
LAW TO INCLUDE ASSETS OF PLANS, OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH PLAN, OTHER
THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE SUBSEQUENT
HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406
AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95 60 OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR
LAW. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED EITHER (I) TO DELIVER A LETTER IN
THE FORM ATTACHED TO THE POOLING AND SERVICING AGREEMENT TO SUCH EFFECT, OR (II) IN THE EVENT THE TRANSFEREE IS SUCH AN ENTITY
SPECIFIED IN (A) OR (B) ABOVE, SUCH ENTITY SHALL PROVIDE ANY OPINIONS OF COUNSEL, OFFICERS’ CERTIFICATES OR AGREEMENTS AS
MAY BE REQUIRED BY, AND IN FORM AND SUBSTANCE SATISFACTORY TO, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR AND THE CERTIFICATE
REGISTRAR, TO THE EFFECT THAT THE PURCHASE AND HOLDING OF THE CERTIFICATES BY OR ON BEHALF OF A PLAN WILL NOT CONSTITUTE OR RESULT
IN A NON EXEMPT PROHIBITED TRANSACTION WITHIN THE MEANING OF SECTION 406 OR 407 OF ERISA OR CODE SECTION 4975 (OR SIMILAR VIOLATION
OF SIMILAR LAW), AND WILL NOT SUBJECT THE MASTER SERVICER, THE SPECIAL SERVICER, THE DEPOSITOR, THE CERTIFICATE ADMINISTRATOR,
THE OPERATING ADVISOR, THE TRUSTEE OR THE CERTIFICATE REGISTRAR TO ANY OBLIGATION OR LIABILITY. THE TRANSFEREE OF A BENEFICIAL
INTEREST IN A “GLOBAL CERTIFICATE” THAT IS A “RESTRICTED CERTIFICATE” (EACH AS DEFINED IN THE POOLING
AND SERVICING AGREEMENT) SHALL BE DEEMED TO REPRESENT THAT IT IS NOT A PLAN OR A PERSON ACTING ON BEHALF OF ANY PLAN OR USING
THE ASSETS OF ANY PLAN TO ACQUIRE SUCH INTEREST, OTHER THAN AN INSURANCE COMPANY USING THE ASSETS OF ITS GENERAL ACCOUNT UNDER
CIRCUMSTANCES WHEREBY SUCH PURCHASE AND THE

 

    	A-13-3

    	 

    

 

SUBSEQUENT
HOLDING OF SUCH CERTIFICATE BY SUCH INSURANCE COMPANY WOULD BE EXEMPT FROM THE PROHIBITED TRANSACTION PROVISIONS OF SECTIONS 406
AND 407 OF ERISA, AND CODE SECTION 4975 UNDER SECTIONS I AND III OF PTCE 95-60, OR A SUBSTANTIALLY SIMILAR EXEMPTION UNDER SIMILAR
LAW.

 

FOR
U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE
INVESTMENT CONDUIT,” AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN CODE SECTIONS 860G(a)(1) AND 860D.

 

[THIS
CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS
AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO
A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4

 

 

 

4 For
Reg S Global Certificates only.

 

    	A-13-4

    	 

    

 

COMM
2015-CCRE26 MORTGAGE TRUST COMMERCIAL MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS H

		 	 	 
	Class H Pass-Through Rate:  3.250%	 	CUSIP:	12593QAS95
		 	 	U20198AJ36
	 	 	 	12593QAT77
	 	 	 
	 	 	ISIN:	US12593QAS938
	 	 	 	USU20198AJ369
	 	 	 	US12593QAT7610
	 	 	 
	Original Aggregate Certificate Balance of the Class H Certificates:  $34,090,914	 	Initial Certificate Balance of this Certificate:  $[_]
	 	 	 
	First Distribution Date:  November 13, 2015	 	Cut-off Date:  The close of business on the
    later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date:  September 2025	 	No.:  H -[_]

 

This
certifies that [              ] is the registered
owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect to the Class H
Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured by first liens
on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee and serviced
by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling and Servicing
Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the terms, provisions
and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The
Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between
the Depositor, Wells Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”),
CWCapital Asset Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC,
as operating advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the 

 

 

 

5 For
Rule 144A Certificates

 

6 For
Regulation S Certificates

 

7 For
IAI Certificates

 

8 For
Rule 144A Certificates

 

9 For
Regulation S Certificates

 

10 For
IAI Certificates

 

    	A-13-5

    	 

    

 

“Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class
X-A, Class A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E,
Class F, Class G, Class H, Class V, Class R and Class LR Certificates (the “Certificates”; the Holders
of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This
Certificate represents a “regular interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income.

 

The
Certificate Administrator makes no representation or warranty as to any of the statements contained herein or the validity or
sufficiency of the Certificates or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate
Administrator under the Pooling and Servicing Agreement. In the event that there is any conflict between any provision of this
Certificate and any provision of the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to
the extent of such inconsistency.

 

Pursuant
to the terms of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate
Administrator, will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination
Date (each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on
the Percentage Interest represented by this Certificate) of that portion of the aggregate amount of principal and interest then
distributable, if any, allocable to the Class H Certificates for such Distribution Date, all as more fully described in the
Pooling and Servicing Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth
day of each month, or if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015.

 

During
each Interest Accrual Period (as defined below), interest on the Class H Certificates will be calculated based on a 360-day
year consisting of twelve 30-day months on the outstanding Certificate Balance hereof.

 

Interest
accrued on this Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this
Certificate, if any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement.
The “Interest Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding
the month in which such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

    	A-13-6

    	 

    

 

All
distributions (other than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose
names the Certificates are registered at the close of business on each Record Date, which will be the close of business on the
last Business Day of the calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be
made on each Distribution Date other than the Termination Date to each Certificateholder of record on the related Record Date,
by wire transfer of immediately available funds to the account of such Holder at a bank or other entity located in the United
States and having appropriate facilities therefor if such Holder shall have provided the Paying Agent with wire instructions in
writing at least five Business Days prior to the related Record Date, or, otherwise, by check mailed by first-class mail to the
address set forth therefor in the Certificate Register. The final distribution on each Certificate shall be made in like manner,
but only upon presentment and surrender of such Certificate at the office of the Certificate Administrator or its agent (which
may be the Paying Agent or the Certificate Registrar acting as such agent) that is specified in the notice to Holders of such
final distribution.

 

Any
funds not distributed on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall,
on such date, be set aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates
as to which notice of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been
surrendered for cancellation within six months after the time specified in such notice, the Certificate Administrator shall mail
a second notice to the remaining non-tendering Certificateholders, at their last addresses shown in the Certificate Register,
to surrender their Certificates for cancellation in order to receive, from such funds held, the final distribution with respect
thereto. If within one year after the second notice not all of such Certificates shall have been surrendered for cancellation,
the Certificate Administrator may, directly or through an agent, take appropriate steps to contact the remaining non-tendering
Certificateholders concerning surrender of their Certificates. The costs and expenses of holding such funds in trust and of contacting
such Certificateholders shall be paid out of such funds. If within two years after the second notice any such Certificates shall
not have been surrendered for cancellation, the Paying Agent shall distribute to the Certificate Administrator all amounts distributable
to the Holders thereof, and the Certificate Administrator shall thereafter hold such amounts for the benefit of such Holders until
the earlier of (i) its termination as Certificate Administrator under the Pooling and Servicing Agreement and the transfer of
such amounts to a successor certificate administrator and (ii) the termination of the Trust Fund and distribution of such
amounts to the Residual Certificateholders. No interest shall accrue or be payable to any Certificateholder on any amount held
as a result of such Certificateholder’s failure to surrender its Certificate(s) for final payment thereof in accordance
with the Pooling and Servicing Agreement. Such funds held by the Certificate Administrator may be invested under certain circumstances,
and all income and gain realized from investment of such funds shall accrue for its benefit.

 

This
Certificate is limited in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage
Loans, as more specifically set forth herein and in the Pooling and Servicing Agreement.

 

As
provided in the Pooling and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s
interest therein and specifically excluding any

 

    	A-13-7

    	 

    

 

interest
of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject to the Pooling and
Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments on or collections
in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO Property; (iv) all
revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security agreements
related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans; (vii) a
security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve Accounts;
(viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts, the Distribution
Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account, and the Trust’s interest in any REO Account,
including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable; (x) a security interest
in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest in all insurance policies
with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under the Mortgage Loan Purchase
Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations and warranties
of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv) the proceeds
of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts
and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and Servicing
Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This
Certificate does not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing
Agreement for the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights,
duties and immunities of the Certificate Administrator.

 

As
provided in the Pooling and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable
or exchangeable only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment
and transfer (executed by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling
and Servicing Agreement. Upon surrender for registration of transfer of this Certificate, subject to the requirements Article
V of the Pooling and Servicing Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly
authenticate in the name of the designated transferee or transferees, one or more new Certificates in authorized denominations
of a like aggregate denomination as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate
Registrar in accordance with Article V of the Pooling and Servicing Agreement.

 

Prior
to due presentation of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer,
the Operating Advisor, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of
any of them may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of
the Depositor, the Master Servicer, the Special Servicer, the Certificate

 

    	A-13-8

    	 

    

 

Administrator,
the Trustee, the Certificate Registrar, any Paying Agent or any agent of any of them shall be affected by notice or knowledge
to the contrary.

 

No
fee or service charge shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer
or exchange referred to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited
Investors as provided in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional
Accredited Investor, the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s
counsel’s review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar
as provided in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The
Certificate Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental
charge payable in connection with any such transfer.

 

The
Pooling and Servicing Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the
Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders
or Serviced Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of
the Pooling and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements
made in the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing
Agreement or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may
be defective or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to
amend any provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to
maintain the rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities
by each Rating Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling
Class Representative or the right of the Controlling Class Representative to receive information under the Pooling and
Servicing Agreement; (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent
with the provisions of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any
material respect the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced
in writing by an Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan
Noteholder, in respect of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and
Serviced Companion Loan Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance
with Rule 17g-5 of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to
the provisions of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and
Servicing Agreement under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing
Agreement such other provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling
and Servicing Agreement to the extent necessary to make those provisions consistent with, and conform to, the modifications made
pursuant to clause (A); provided that any amendment pursuant to this clause (vi) shall be at

 

    	A-13-9

    	 

    

 

the
sole cost and expense of the Depositor.  Such amendment (a) shall not materially increase the obligations of the Depositor,
the Trustee, the Paying Agent, the Certificate Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master
Servicer or the Special Servicer without such party’s consent; and (b) shall not adversely affect in any material respect
the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in the case
of clauses (iii) through (v) above by (x) an Opinion of Counsel or (y) solely in the case of a Certificateholder of a rated Class,
receipt of a No Downgrade Confirmation from each applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier
REMIC or the Upper-Tier REMIC to fail to qualify as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The
Pooling and Servicing Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent
of the Holders of Certificates representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates
affected thereby (without regard to Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents)
and each Serviced Companion Loan Noteholder affected thereby for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders
or the Serviced Companion Loan Noteholders; provided, that no such amendment may:

 

		(i)	reduce
                                         in any manner the amount of, or delay the timing of, payments received on the Mortgage
                                         Loans or Serviced Loan Combinations which are required to be distributed on any Certificate,
                                         without the consent of the Holders of Certificates representing all of the Percentage
                                         Interests of the Class or Classes affected thereby or which are required to be distributed
                                         to any Serviced Companion Loan Noteholders without the consent of such Serviced Companion
                                         Loan Noteholders;

 

		(ii)	change
                                         the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
                                         are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter
                                         the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
                                         or the Trustee to make a P&I Advance or a Property Advance, without the consent of
                                         the Holders of Certificates representing all of the Percentage Interests of the Class
                                         or Classes affected thereby and the consent of any affected Serviced Companion Loan Noteholders;
                                         or

 

		(iv)	amend
                                         any section hereof which relates to the amendment of the Pooling and Servicing Agreement
                                         without the consent of the Holders of all Certificates representing all of the Percentage
                                         Interests of the Class or Classes affected thereby and the consent of any affected Serviced
                                         Companion Loan Noteholders.

 

    	A-13-10

    	 

    

 

Further,
the Depositor, the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee,
at any time and from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan
Noteholders, may amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent
as shall be necessary to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification
of the Grantor Trust as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all
times that any Certificates are outstanding; provided, that such action, as evidenced by an Opinion of Counsel
(obtained at the expense of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition
of any such taxes, and would not adversely affect in any material respect the interest of any Certificateholder or, if applicable,
any Serviced Companion Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended,
the Exchange Act, Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The
Certificateholder owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder
exercises such option, the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may
effect an early termination of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee,
the Special Servicer and the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of
which the aggregate Stated Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance
of the Mortgage Loans as of the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but
not less than all, of the Mortgage Loans then included in the Trust Fund, and the Trust’s interest in all property acquired
in respect of any Mortgage Loan, at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100%
                                         of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of
                                         the last day of the month preceding such Anticipated Termination Date (less any P&I
                                         Advances previously made on account of principal);

 

		(B)	the
                                         fair market value of all other property included in the Trust Fund as of the last day
                                         of the month preceding such Anticipated Termination Date, as determined by an Independent
                                         appraiser acceptable to the Master Servicer as of a date not more than 30 days prior
                                         to the last day of the month preceding such Distribution Date;

 

		(C)	all
                                         unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
                                         Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage
                                         Rate to the last day of the month preceding such Anticipated Termination Date (less any
                                         P&I Advances previously made on account of interest); and

 

    	A-13-11

    	 

    

 

		(D)	the
                                         aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate,
                                         and unpaid Servicing Compensation, Special Servicing Compensation, Operating Advisor
                                         Fees, Trustee/Certificate Administrator Fees, the CREFC® License Fees
                                         and Trust Fund expenses.

 

In
addition, the Pooling and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the
Class X-B Notional Amount and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1,
Class A-2, Class A-SB, Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced
to zero, the Sole Certificateholder shall have the right to exchange all of the then-outstanding Certificates (other than (i)
the Class X-D, Class X-E and Class X-F Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights
of the Class X-D, Class X-E and Class X-F Certificates pursuant to the definition of “Sole Certificateholder” and
(ii) the Class V, Class R and Class LR Certificates) for all of the Mortgage Loans and each REO Property remaining
in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling and Servicing Agreement by giving written
notice to all the parties to the Pooling and Servicing Agreement no later than 60 days prior to the anticipated date of exchange.

 

All
costs and expenses incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with
the purchase of the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and
Servicing Agreement shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator
shall be entitled to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c)
of the Pooling and Servicing Agreement.

 

The
respective obligations and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator,
the Operating Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than
the obligations of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as
set forth in the Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders
and the Serviced Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and
the Master Servicer, as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution
Date following the earlier to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in
accordance with Section 9.01(c) of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its
Certificates for the Mortgage Loans in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the
later of (a) the receipt or collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the
liquidation and disposition pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided
that in no event shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years
from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United
Kingdom, living on the date hereof.

 

    	A-13-12

    	 

    

 

Unless
the Certificate of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this
Certificate shall not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-13-13

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Class H Certificate to be duly executed. 

	 	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	 	By:	 
	 	 	Authorized Signatory

 

Certificate
of Authentication

 

This
is one of the Class H Certificates referred to in the Pooling and Servicing Agreement. 

	 	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating
    Agent
	 	 	 
	 	 	By:	 
	 	 	Authorized Signatory

 

    	A-13-14

    	 

    

 

EXHIBIT A-14

 

FORM OF CLASS X-A CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THE HOLDERS OF THIS CLASS X-A CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-A CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-A CERTIFICATES IS EQUAL TO AN AMOUNT AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

 

 

1
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-14-1

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS X-A

 

	Class X-A Pass-Through Rate: Variable	 	
        CUSIP:    12593QBF6

         

        ISIN:        US12593QBF63

         

	Original Aggregate Notional Balance of the Class X-A Certificates: $811,353,000	 	Initial Notional Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: September 2025	 	No.: X-A-[__]

 

This certifies that
[________] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-A Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D

 

    	A-14-2

    	 

    

 

of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-A Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class X-A Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Notional Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its

 

    	A-14-3

    	 

    

 

agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account, and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any

 

    	A-14-4

    	 

    

 

reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor

 

    	A-14-5

    	 

    

 

of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

    	A-14-6

    	 

    

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any

 

    	A-14-7

    	 

    

 

Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder

 

    	A-14-8

    	 

    

 

has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-14-9

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class X-A Certificate to be duly executed.

 

Dated: October 8, 2015

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
X-A Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015 

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-14-10

    	 

    

 

EXHIBIT A-15

 

FORM OF CLASS X-B [RULE 144A]1
[REG S]2 CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED
INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY
IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF
RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS
LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE

 

 

 

1 For Rule 144A Global
Certificates only.

 

2 For Reg S Global
Certificates only.

 

3 Legend required as
long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-15-1

    	 

    

 

TRANSACTION” AS SUCH TERMS
ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH
ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE CERTIFICATE
REGISTRAR, THE TRUSTEE, THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER
IS NOT EXEMPT FROM THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THE HOLDERS OF THIS CLASS X-B CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-B CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL (OTHER THAN THE PAYMENT OF $100 ON THE FIRST DISTRIBUTION DATE WHICH WILL BE DEEMED
A PAYMENT OF PRINCIPAL ON THE PRINCIPAL BALANCE OF THE CLASS X-B CERTIFICATES FOR U.S. FEDERAL INCOME TAX PURPOSES). THE NOTIONAL
BALANCE OF THE CLASS X-B CERTIFICATES IS EQUAL TO AN AMOUNT AS SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.
ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET
FORTH BELOW.

 

    	A-15-2

    	 

    

 

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

[THIS CERTIFICATE HAS NOT BEEN AND
WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE
CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT
TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4

 

 

 

4
For Reg S Global Certificates only.

 

    	A-15-3

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, CLASS X-B

 

	
        Class X-B Pass-Through Rate: Variable

         

         

         
	 	
        CUSIP:    
        12593QAA85
 U20198AA26
 12593QAB67

         

        ISIN:        
        US12593QAA858
USU20198AA279
 US12593QAB6810

         

	Original Aggregate Notional Balance of the Class X-B Certificates: $126,817,000	 	Initial Notional Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: September 2025	 	No.: X-B-[__]

 

This certifies that [_______] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-B Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC,

 

 

 

5 For Rule 144A Certificates

 

6 For Regulation S
Certificates

 

7 For IAI Certificates

 

8 For Rule 144A Certificates

 

9 For Regulation S Certificates 

 

10 For IAI Certificates

 

    	A-15-4

    	 

    

 

as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-B Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class X-B Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Notional Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month

 

    	A-15-5

    	 

    

 

immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

    	A-15-6

    	 

    

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above-accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all

 

    	A-15-7

    	 

    

 

purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to

 

    	A-15-8

    	 

    

 

clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

    	A-15-9

    	 

    

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

    	A-15-10

    	 

    

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

    	A-15-11

    	 

    

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-15-12

    	 

    

 

IN WITNESS WHEREOF, the Certificate Administrator
has caused this Class X-B Certificate to be duly executed.

 

Dated: October 8, 2015

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
X-B Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-15-13

    	 

    

 

EXHIBIT A-16

 

FORM OF CLASS X-C [RULE 144A]1
[REG S]2 CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED
INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY
IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF
RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS
LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE

 

 

 

1 For Rule 144A Global
Certificates only.

 

2 For Reg S Global
Certificates only.

 

3 Legend required as
long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-16-1

    	 

    

 

TRANSACTION” AS SUCH TERMS
ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH
ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THE HOLDERS OF THIS CLASS X-C CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-C CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-C CERTIFICATES IS EQUAL TO AN AMOUNT AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.

 

    	A-16-2

    	 

    

 

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4

 

 

 

4
For Reg S Global Certificates only.

 

    	A-16-3

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, CLASS X-C

 

	Class X-C Pass-Through Rate: Variable	 	
        CUSIP:   12593QAC45

U20198AB06

12593QAD27

         

        ISIN:       US12593QAC428

USU20198AB009

US12593QAD2510

         

	Original Aggregate Notional Balance of the Class X-C Certificates: $61,363,000	 	Initial Notional Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: September 2025	 	No.: X-C-[__]

 

This certifies that
[_______] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-C Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC,

 

 

 

5 For Rule 144A Certificates

 

6 For Regulation S Certificates

 

7 For IAI Certificates

 

8 For Rule 144A Certificates

 

9 For Regulation S Certificates

 

10 For IAI Certificates

 

    	A-16-4

    	 

    

 

as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-C Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class X-C Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Notional Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month

 

    	A-16-5

    	 

    

 

immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

    	A-16-6

    	 

    

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein) (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all

 

    	A-16-7

    	 

    

 

purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to

 

    	A-16-8

    	 

    

 

clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

    	A-16-9

    	 

    

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

    	A-16-10

    	 

    

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

    	A-16-11

    	 

    

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-16-12

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class X-C Certificate to be duly executed.

 

Dated: October 8, 2015

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

  

Certificate of Authentication

 

This is one of the Class
X-C Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-16-13

    	 

    

 

EXHIBIT A-17

 

FORM OF CLASS X-D [RULE 144A]1
[REG S]2 CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED
INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY
IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF
RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS
LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE

 

 

 

1 For Rule 144A Global
Certificates only.

 

2 For Reg S Global
Certificates only.

 

3 Legend required as
long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-17-1

    	 

    

 

TRANSACTION” AS SUCH TERMS
ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH
ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THE HOLDERS OF THIS CLASS X-D CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-D CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-D CERTIFICATES IS EQUAL TO AN AMOUNT AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.

 

    	A-17-2

    	 

    

 

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR
TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED
IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4

 

 

 

4
For Reg S Global Certificates only.

 

    	A-17-3

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, CLASS X-D

 

	Class X-D Pass-Through Rate: Variable	 	
        CUSIP:    12593QAE05

U20198AC86

12593QAF77

         

        ISIN:        US12593QAE088

USU20198AC829

US12593QAF7210

         

	Original Aggregate Notional Balance of the Class X-D Certificates: $28,636,000	 	Initial Notional Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: September 2025	 	No.: X-D-[__]

 

This certifies that [_______] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-D Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC,

 

 

 

5 For Rule 144A Certificates

 

6 For Regulation S
Certificates

 

7 For IAI Certificates

 

8 For Rule 144A Certificates

 

9 For Regulation S
Certificates

 

10 For IAI Certificates

 

    	A-17-4

    	 

    

 

as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-D Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class X-D Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Notional Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month

 

    	A-17-5

    	 

    

 

immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

    	A-17-6

    	 

    

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein) (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all

 

    	A-17-7

    	 

    

 

purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to

 

    	A-17-8

    	 

    

 

clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

    	A-17-9

    	 

    

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

    	A-17-10

    	 

    

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

    	A-17-11

    	 

    

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-17-12

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class X-D Certificate to be duly executed.

 

Dated: October 8, 2015

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Certificate Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
X-D Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION, not in its individual capacity but solely as Authenticating Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-17-13

    	 

    

 

EXHIBIT A-18

 

FORM OF CLASS X-E [RULE 144A]1
 [REG S]2 CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED
INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY
IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF
RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS
LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-“U.S. PERSON” IN AN “OFFSHORE

 

 

 

1
For Rule 144A Global Certificates only.

 

2
For Reg S Global Certificates only.

 

3
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-18-1

    	 

    

 

TRANSACTION” AS SUCH TERMS
ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH
ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT.  A TRANSFEREE IS ALSO REQUIRED
TO DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT
IF SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THE HOLDERS OF THIS CLASS X-E CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-E CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-E CERTIFICATES IS EQUAL TO AN AMOUNT AS
SET FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.

 

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

    	A-18-2

    	 

    

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4

 

 

 

4 For Reg S Global
Certificates only.

 

    	A-18-3

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, CLASS X-E

 

	Class X-E Pass-Through Rate:  Variable	 	
        CUSIP:    12593QAG55

        U20198AD66

        12593QAH37

         

        ISIN:        US12593QAG558

        USU20198AD659

        US12593QAH3910

         

	Original Aggregate Notional Balance of the Class X-E Certificates:  $28,636,000	 	Initial Notional Balance of this Certificate:  $[_____]
	 	 	 
	First Distribution Date:  November 13, 2015	 	Cut-off Date:  The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan

         

	Assumed Final Distribution Date:  September 2025		No.:  X-E-[__]

 

This certifies that [              ]
is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-E Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans
secured by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the
Trustee and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to
the Pooling and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents
to the terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC,

 

 

 

5
For Rule 144A Certificates

 

6
For Regulation S Certificates

 

7
For IAI Certificates

 

8
For Rule 144A Certificates

 

9
For Regulation S Certificates

 

10 For IAI Certificates

 

    	A-18-4

    	 

    

 

as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class
X-A, Class A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E,
Class F, Class G, Class H, Class V, Class R and Class LR Certificates (the “Certificates”; the Holders
of Certificates issued under the Pooling and Servicing Agreement are collectively referred to herein as “Certificateholders”).
This Certificate is issued pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent
not defined herein, capitalized terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-E Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class X-E Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Notional Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month

 

    	A-18-5

    	 

    

 

immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest
shall accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to
surrender its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held
by the Certificate Administrator may be invested under certain circumstances, and all income and gain realized from investment
of such funds shall accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

    	A-18-6

    	 

    

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein) (i) such Mortgage Loans as from time to time are
subject to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled
payments on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest
in any REO Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents
and Profits and any security agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional
security for any Mortgage Loans; (vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral
Accounts, Escrow Accounts and Reserve Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the
Serviced Loan Combination Collection Accounts, the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest
Reserve Account and the Trust’s interest in any REO Account, including any amounts on deposit therein, assets credited thereto
and any reinvestment income, as applicable; (x) a security interest in any environmental indemnity agreements relating to
the Mortgaged Properties; (xi) a security interest in all insurance policies with respect to the Mortgage Loans and the Mortgaged
Properties; (xii) the rights and remedies under the Mortgage Loan Purchase Agreements relating to document delivery requirements
with respect to the Mortgage Loans and the representations and warranties of the related Mortgage Loan Seller regarding its Mortgage
Loans; (xiii) the Lower-Tier Regular Interests; and (xiv) the proceeds of the foregoing (other than any interest earned on deposits
in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and any Reserve Accounts, to the extent such interest belongs
to the related Borrower). As provided in the Pooling and Servicing Agreement, withdrawals may be made from certain of the above
accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all

 

    	A-18-7

    	 

    

 

purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling
and Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in
the Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement
or to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend
any provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain
the rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each
Rating Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling
Class Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing
Agreement; (iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with
the provisions of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material
respect the interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing
by an Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder,
in respect of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion
Loan Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to

 

    	A-18-8

    	 

    

 

clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor. 
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

    	A-18-9

    	 

    

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

    	A-18-10

    	 

    

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional
Amount and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB,
Class A-3, Class A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder
shall have the right to exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F
Certificates if the Sole Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class
X-F Certificates pursuant to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and
Class LR Certificates) for all of the Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by
clause (ii) of Section 9.01(a) of the Pooling and Servicing Agreement by giving written notice to all the parties to the Pooling
and Servicing Agreement no later than 60 days prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement
shall be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and
Servicing Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or
collection of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition
pursuant to the Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event
shall the trust created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the
last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on
the date hereof.

 

    	A-18-11

    	 

    

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-18-12

    	 

    

 

IN
WITNESS WHEREOF, the Certificate Administrator has caused this Class X-E Certificate to be duly executed. 

	 	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL
    

ASSOCIATION, not in its individual capacity 

but solely as Certificate
    Administrator
	 	 	 
	 	 	By:	 
	 	 	Authorized Signatory

 

Certificate
of Authentication

 

This
is one of the Class X-E Certificates referred to in the Pooling and Servicing Agreement. 

	 	 	 	 
	Dated: October 8, 2015	 	 
	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL
    

ASSOCIATION, not in its individual capacity 

but solely as Authenticating
    Agent
	 	 	 
	 	 	By:	 
	 	 	Authorized Signatory

 

    	A-18-13

    	 

    

 

EXHIBIT A-19

 

FORM OF CLASS X-F [RULE 144A]1
[REG S]2 CERTIFICATE

 

[UNLESS THIS CERTIFICATE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE CERTIFICATE
REGISTRAR FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED
INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY
IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF
RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS
LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE

 

 

 

1
For Rule 144A Global Certificates only.

 

2
For Reg S Global Certificates only.

 

3
Legend required as long as DTC is the Depository under the Pooling and Servicing Agreement.

 

    	A-19-1

    	 

    

 

TRANSACTION” AS SUCH TERMS
ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH
ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THE HOLDERS OF THIS CLASS X-F CERTIFICATE
WILL BE ENTITLED ONLY TO DISTRIBUTIONS OF INTEREST ON THE NOTIONAL BALANCE OF THE CLASS X-F CERTIFICATES AND WILL NOT BE ENTITLED
TO ANY DISTRIBUTIONS WITH RESPECT TO PRINCIPAL. THE NOTIONAL BALANCE OF THE CLASS X-F CERTIFICATES IS EQUAL TO AN AMOUNT AS SET
FORTH IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW. ACCORDINGLY, THE OUTSTANDING NOTIONAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL BALANCE SET FORTH BELOW.

 

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

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FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “REGULAR INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT,” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED.

 

[THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE SECURITIES ACT AND, PRIOR TO THE DATE THAT IS 40 DAYS AFTER THE OFFERING OF THE CERTIFICATES,
MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED IN THE UNITED STATES OR TO A U.S. PERSON EXCEPT PURSUANT TO AN EXEMPTION
FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.]4

 

 

 

4
For Reg S Global Certificates only.

 

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COMM 2015-CCRE26 MORTGAGE TRUST

COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, CLASS X-F

 

	Class X-F Pass-Through Rate: Variable	 	
        CUSIP:    12593QAJ95

        U20198AE46

        12593QAK67

         

        ISIN:        US12593QAJ948

        USU20198AE499

        US12593QAK6710

         

	Original Aggregate Notional Balance of the Class X-F Certificates: $34,090,914	 	Initial Notional Balance of this Certificate: $[_____]
	 	 	 
	First Distribution Date: November 13, 2015	 	Cut-off Date: The close of business on the later of the related due date for each Mortgage Loan in October 2015 and the date of origination of such Mortgage Loan
	 	 	 
	Assumed Final Distribution Date: September 2025	 	No.: X-F-[__]

  

This certifies that
[_______] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class X-F Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC,

 

 

 

5
For Rule 144A Certificates

 

6
For Regulation S Certificates

 

7
For IAI Certificates

 

8
For Rule 144A Certificates

 

9
For Regulation S Certificates

 

10
For IAI Certificates

 

    	A-19-4

    	 

    

 

as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Certificate represents
a “regular interest” in a “real estate mortgage investment conduit”, as those terms are defined, respectively,
in Sections 860G(a)(1) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this Certificate, by acceptance
hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in accordance with the preceding
sentence for purposes of federal income taxes, state and local income and franchise taxes and other taxes imposed on or measured
by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class X-F Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

During each Interest
Accrual Period (as defined below), interest on the Class X-F Certificates will be calculated based on a 360-day year consisting
of twelve 30-day months on the outstanding Notional Balance hereof.

 

Interest accrued on this
Certificate during an Interest Accrual Period, plus the aggregate unpaid Interest Shortfall with respect to this Certificate, if
any, will be payable on the related Distribution Date to the extent provided in the Pooling and Servicing Agreement. The “Interest
Accrual Period” means, with respect to any Distribution Date, the calendar month

 

    	A-19-5

    	 

    

 

immediately preceding the month in which
such Distribution Date occurs. Each Interest Accrual Period is assumed to consist of 30 days.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

    	A-19-6

    	 

    

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein) (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all

 

    	A-19-7

    	 

    

 

purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to

 

    	A-19-8

    	 

    

 

clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

    	A-19-9

    	 

    

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

    	A-19-10

    	 

    

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

    	A-19-11

    	 

    

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-19-12

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class X-F Certificate to be duly executed.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
X-F Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating
    Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory
	 	 	 

 

    	A-19-13

    	 

    

 

EXHIBIT A-20

 

FORM OF CLASS V CERTIFICATE

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED
INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY
IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF
RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS
LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION” AS SUCH TERMS
ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH
ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND

 

    	A-20-1

    	 

    

 

SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.

 

THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN, AS DEFINED
IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS
TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE
INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE COLLECTIVE INVESTMENT
FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA), AN INSURANCE
COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR WHICH ARE DEEMED PURSUANT TO ERISA
OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH
PLAN. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED TO DELIVER A LETTER IN THE FORM ATTACHED
TO THE POOLING AND SERVICING AGREEMENT TO SUCH EFFECT. 

 

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

    	A-20-2

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS V

 

	No.: V-1	 	Percentage Interest: [_]%
	 	 	 
	 	 	
        CUSIP:   12593QAU41

        U20198AK02

        12593QAV23

         

        ISIN:       US12593QAU404

USU20198AK095

US12593QAV236

 

This certifies that [            ] is the registered owner of a beneficial ownership interest in a Trust Fund, including the distributions to be made with respect
to the Class V Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

 

1
For Rule 144A Certificates

2
For Regulation S Certificates

3
For IAI Certificates

4
For Rule 144A Certificates

5
For Regulation S Certificates

6
For IAI Certificates

 

    	A-20-3

    	 

    

 

This Certificate represents
a beneficial interest in a portion of a grantor trust under subpart E, part I of subchapter J of the Internal Revenue Code of 1986,
as amended (the “Code”), which portion includes the Excess Interest and any proceeds thereof in the Class V
Distribution Account. Each Holder of this Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with
the treatment of, this Certificate in accordance with the preceding sentence for purposes of federal income taxes, state and local
income and franchise taxes and other taxes imposed on or measured by income.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

Pursuant to the terms
of the Pooling and Servicing Agreement, the Certificate Administrator, or the Paying Agent on behalf of the Certificate Administrator,
will distribute (other than the final distribution on any Certificate), on the fourth Business Day after each Determination Date
(each such date, a “Distribution Date”) an amount equal to such Person’s pro rata share (based on the
Percentage Interest represented by this Certificate) of that portion of the aggregate amount of interest then distributable, if
any, allocable to the Class V Certificates for such Distribution Date, all as more fully described in the Pooling and Servicing
Agreement. “Determination Date” is defined in the Pooling and Servicing Agreement as the sixth day of each month, or
if such sixth day is not a Business Day, then the next Business Day, commencing in November 2015. Holders of this Certificate may
be entitled to Prepayment Premiums and Yield Maintenance Charges as provided in the Pooling and Servicing Agreement.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in

 

    	A-20-4

    	 

    

 

such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such

 

    	A-20-5

    	 

    

 

interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made

 

    	A-20-6

    	 

    

 

in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

    	A-20-7

    	 

    

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the

 

    	A-20-8

    	 

    

 

Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The

 

    	A-20-9

    	 

    

 

Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust created by
the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants
of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-20-10

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class V Certificate to be duly executed.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
V Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating
    Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-20-11

    	 

    

 

EXHIBIT A-21

 

FORM OF CLASS R CERTIFICATE

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “RESIDUAL INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).
A TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS
ON TRANSFERABILITY, AS SET FORTH IN SECTION 5.02(l) OF THE POOLING AND SERVICING AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN
AFFIDAVIT TO THE TRANSFEROR AND THE CERTIFICATE ADMINISTRATOR TO THE EFFECT THAT, AMONG OTHER THINGS, (A) IT IS NOT A DISQUALIFIED
ORGANIZATION, AS SUCH TERM IS DEFINED IN SECTION 860E(e)(5) OF THE CODE, OR AN AGENT (INCLUDING A BROKER, NOMINEE OR OTHER MIDDLEMAN)
FOR SUCH DISQUALIFIED ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE, (B) IT WILL NOT CAUSE INCOME WITH RESPECT TO THIS CERTIFICATE
TO BE ATTRIBUTABLE TO A FOREIGN PERMANENT ESTABLISHMENT OR FIXED BASE, WITHIN THE MEANING OF AN APPLICABLE INCOME TAX TREATY, OF
SUCH PERSON OR ANY OTHER U.S. PERSON, (C) IT HAS HISTORICALLY PAID ITS DEBTS AS THEY HAVE COME DUE AND INTENDS TO CONTINUE TO PAY
ITS DEBTS AS THEY COME DUE IN THE FUTURE, AND (D) IT INTENDS TO PAY ANY TAXES ASSOCIATED WITH HOLDING THIS CERTIFICATE AS THEY
BECOME DUE. ANY PURPORTED TRANSFER TO A DISQUALIFIED ORGANIZATION OR OTHER PERSON THAT IS NOT A PERMITTED TRANSFEREE OR OTHERWISE
IN VIOLATION OF THESE RESTRICTIONS SHALL BE ABSOLUTELY NULL AND VOID AND SHALL VEST NO RIGHTS IN ANY PURPORTED TRANSFEREE. BECAUSE
THIS CERTIFICATE REPRESENTS A “NON ECONOMIC RESIDUAL INTEREST,” AS DEFINED IN TREASURY REGULATIONS SECTION 1.860E-1(c),
TRANSFERS OF THIS CERTIFICATE MAY BE DISREGARDED FOR FEDERAL INCOME TAX PURPOSES. IN ORDER TO SATISFY A REGULATORY SAFE HARBOR
UNDER WHICH SUCH TRANSFERS WILL NOT BE DISREGARDED, THE TRANSFEROR MAY BE REQUIRED, AMONG OTHER THINGS, TO SATISFY ITSELF AS TO
THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND EITHER TO PAY A SPECIFIED AMOUNT TO THE PROPOSED TRANSFEREE OR TRANSFER
TO AN ELIGIBLE TRANSFEREE AS PROVIDED IN REGULATIONS.

 

    	A-21-1

    	 

    

 

THE HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE
HEREOF, IS DEEMED TO HAVE AGREED TO CONSENT TO ACT AS “TAX MATTERS PERSON” OF THE [UPPER TIER REMIC] [LOWER TIER REMIC]
AND TO THE APPOINTMENT OF THE CERTIFICATE ADMINISTRATOR AS ATTORNEY IN FACT AND AGENT FOR THE TAX MATTERS PERSON OR AS OTHERWISE
PROVIDED IN THE POOLING AND SERVICING AGREEMENT TO PERFORM THE FUNCTIONS OF A “TAX MATTERS PARTNER” FOR PURPOSES OF
SUBCHAPTER C OF CHAPTER 63 OF SUBTITLE F OF THE CODE.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED
INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY
IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF
RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS
LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION” AS SUCH TERMS
ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH
ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH

 

    	A-21-2

    	 

    

 

TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.

 

THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN, AS DEFINED
IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS
TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE
INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE COLLECTIVE INVESTMENT
FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA), AN INSURANCE
COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR WHICH ARE DEEMED PURSUANT TO ERISA
OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH
PLAN. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED FORM SHALL BE REQUIRED TO DELIVER A LETTER IN THE FORM ATTACHED
TO THE POOLING AND SERVICING AGREEMENT TO SUCH EFFECT. 

 

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

    	A-21-3

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS R

	No.: R-1	Percentage Interest: [_]%
	 	 
	 	
        CUSIP:12593QAW01

         

        ISIN:    US12593QAW062

 

This certifies that [                  ] is the registered owner of the Percentage Interest evidenced by this Certificate in the Class R Certificates issued by the Trust
Fund. The Class R Certificateholder is not entitled to interest or principal distributions. The Class R Certificateholder will
be entitled to receive the proceeds of the remaining assets of the Upper Tier REMIC, if any, on the Final Scheduled Distribution
Date for the Certificates, after distributions in respect of any accrued but unpaid interest on the Certificates and after distributions
in reduction of principal balance have reduced the principal balances of the Certificates to zero. It is not anticipated that there
will be any assets remaining in the Upper Tier REMIC or Trust Fund on the Final Scheduled Distribution Date following the distributions
on the Regular Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Class R Certificate
represents the sole “residual interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(2)

 

 

1
For Rule 144A Certificates

2
For Rule 144A Certificates

 

    	A-21-4

    	 

    

 

and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income. The Holder of the largest Percentage Interest in the Class R Certificates shall be the
“tax matters person” for the Upper-Tier REMIC pursuant to Treasury Regulations Section 1.860F-4(d), and the Certificate
Administrator is hereby irrevocably designated and shall serve as attorney-in-fact and agent for any such Person that is the “tax
matters person”.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such

 

    	A-21-5

    	 

    

 

amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate
Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the Lock-Box Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender

 

    	A-21-6

    	 

    

 

of this Certificate to the Certificate Registrar at its offices together with an assignment and transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not

 

    	A-21-7

    	 

    

 

inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

    	A-21-8

    	 

    

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month 

 

    	A-21-9

    	 

    

 

preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the

 

    	A-21-10

    	 

    

 

obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust
created by the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of
the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-21-11

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class R Certificate to be duly executed.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
R Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating
    Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

    	A-21-12

    	 

    

 

EXHIBIT A-22

 

FORM OF CLASS LR CERTIFICATE

 

THIS CERTIFICATE DOES NOT REPRESENT
AN OBLIGATION OF OR INTEREST IN THE DEPOSITOR, THE ORIGINATOR, THE MASTER SERVICER, THE SPECIAL SERVICER, THE CERTIFICATE ADMINISTRATOR,
THE CERTIFICATE REGISTRAR, THE OPERATING ADVISOR, THE TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THE CERTIFICATES NOR
THE UNDERLYING MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY.

 

FOR U.S. FEDERAL INCOME TAX PURPOSES,
THIS CERTIFICATE REPRESENTS A “RESIDUAL INTEREST” IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT” AS THOSE
TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”).
A TRANSFEREE OF THIS CERTIFICATE, BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE SUBJECT TO CERTAIN RESTRICTIONS
ON TRANSFERABILITY, AS SET FORTH IN SECTION 5.02(l) OF THE POOLING AND SERVICING AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN
AFFIDAVIT TO THE TRANSFEROR AND THE CERTIFICATE ADMINISTRATOR TO THE EFFECT THAT, AMONG OTHER THINGS, (A) IT IS NOT A DISQUALIFIED
ORGANIZATION, AS SUCH TERM IS DEFINED IN SECTION 860E(e)(5) OF THE CODE, OR AN AGENT (INCLUDING A BROKER, NOMINEE OR OTHER MIDDLEMAN)
FOR SUCH DISQUALIFIED ORGANIZATION AND IS OTHERWISE A PERMITTED TRANSFEREE, (B) IT WILL NOT CAUSE INCOME WITH RESPECT TO THIS CERTIFICATE
TO BE ATTRIBUTABLE TO A FOREIGN PERMANENT ESTABLISHMENT OR FIXED BASE, WITHIN THE MEANING OF AN APPLICABLE INCOME TAX TREATY, OF
SUCH PERSON OR ANY OTHER U.S. PERSON, (C) IT HAS HISTORICALLY PAID ITS DEBTS AS THEY HAVE COME DUE AND INTENDS TO CONTINUE TO PAY
ITS DEBTS AS THEY COME DUE IN THE FUTURE, AND (D) IT INTENDS TO PAY ANY TAXES ASSOCIATED WITH HOLDING THIS CERTIFICATE AS THEY
BECOME DUE. ANY PURPORTED TRANSFER TO A DISQUALIFIED ORGANIZATION OR OTHER PERSON THAT IS NOT A PERMITTED TRANSFEREE OR OTHERWISE
IN VIOLATION OF THESE RESTRICTIONS SHALL BE ABSOLUTELY NULL AND VOID AND SHALL VEST NO RIGHTS IN ANY PURPORTED TRANSFEREE. BECAUSE
THIS CERTIFICATE REPRESENTS A “NON ECONOMIC RESIDUAL INTEREST,” AS DEFINED IN TREASURY REGULATIONS SECTION 1.860E-1(c),
TRANSFERS OF THIS CERTIFICATE MAY BE DISREGARDED FOR FEDERAL INCOME TAX PURPOSES. IN ORDER TO SATISFY A REGULATORY SAFE HARBOR
UNDER WHICH SUCH TRANSFERS WILL NOT BE DISREGARDED, THE TRANSFEROR MAY BE REQUIRED, AMONG OTHER THINGS, TO SATISFY ITSELF AS TO
THE FINANCIAL CONDITION OF THE PROPOSED TRANSFEREE AND EITHER TO PAY A SPECIFIED AMOUNT TO THE PROPOSED TRANSFEREE OR TRANSFER
TO AN ELIGIBLE TRANSFEREE AS PROVIDED IN REGULATIONS.

 

    	A-22-1

    	 

    

 

THE HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE
HEREOF, IS DEEMED TO HAVE AGREED TO CONSENT TO ACT AS “TAX MATTERS PERSON” OF THE LOWER TIER REMIC AND TO THE APPOINTMENT
OF THE CERTIFICATE ADMINISTRATOR AS ATTORNEY IN FACT AND AGENT FOR THE TAX MATTERS PERSON OR AS OTHERWISE PROVIDED IN THE POOLING
AND SERVICING AGREEMENT TO PERFORM THE FUNCTIONS OF A “TAX MATTERS PARTNER” FOR PURPOSES OF SUBCHAPTER C OF CHAPTER
63 OF SUBTITLE F OF THE CODE.

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED,
RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1)
PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE
IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR
THAT THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”), PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM
THE HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(3) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO OTHER INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED
INVESTORS,” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR ANY ENTITY
IN WHICH ALL OF THE EQUITY OWNERS ARE INSTITUTIONAL INVESTORS THAT ARE “ACCREDITED INVESTORS,” WITHIN THE MEANING OF
RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS
LR CERTIFICATES) TO INSTITUTIONS THAT ARE A NON-”U.S. PERSON” IN AN “OFFSHORE TRANSACTION” AS SUCH TERMS
ARE DEFINED IN, AND IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH
ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH

 

    	A-22-2

    	 

    

 

TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A. 

 

THIS CERTIFICATE SHOULD NOT BE PURCHASED
BY A TRANSFEREE THAT IS (A) AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT, INCLUDING AN INDIVIDUAL RETIREMENT ACCOUNT
OR A KEOGH PLAN, WHICH IS SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”),
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), OR A GOVERNMENTAL PLAN, AS DEFINED
IN SECTION 3(32) OF ERISA, OR OTHER PLAN SUBJECT TO ANY FEDERAL, STATE OR LOCAL LAW (“SIMILAR LAW”) WHICH IS
TO A MATERIAL EXTENT SIMILAR TO THE FOREGOING PROVISIONS OF ERISA OR THE CODE (EACH, A “PLAN”), OR (B) A COLLECTIVE
INVESTMENT FUND WHOSE UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN’S INVESTMENT IN THE COLLECTIVE INVESTMENT
FUND (PURSUANT TO U.S. DEPARTMENT OF LABOR REGULATION SECTION 2510.3-101, AS MODIFIED BY SECTION 3(42) OF ERISA), AN INSURANCE
COMPANY USING ASSETS OF SEPARATE ACCOUNTS OR GENERAL ACCOUNTS WHICH INCLUDE ASSETS OF PLANS (OR WHICH ARE DEEMED PURSUANT TO ERISA
OR ANY SIMILAR LAW TO INCLUDE ASSETS OF PLANS) OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR USING THE ASSETS OF ANY SUCH
PLAN. TRANSFEREES OF THIS CERTIFICATE TAKING DELIVERY IN CERTIFICATED
FORM SHALL BE REQUIRED TO DELIVER A LETTER IN THE FORM ATTACHED TO THE POOLING AND SERVICING AGREEMENT TO SUCH EFFECT.

 

TRANSFERS AND EXCHANGES OF PORTIONS
OF THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS AS PROVIDED IN THE POOLING AND SERVICING AGREEMENT REFERRED TO BELOW.

 

ANY HOLDER DESIRING TO EFFECT A TRANSFER
OF THIS CERTIFICATE SHALL, AND DOES HEREBY AGREE TO, INDEMNIFY THE CERTIFICATE REGISTRAR, THE CERTIFICATE ADMINISTRATOR, THE TRUSTEE,
THE MASTER SERVICER AND THE DEPOSITOR AGAINST ANY LOSS, LIABILITY OR EXPENSE THAT MAY RESULT IF THE TRANSFER IS NOT EXEMPT FROM
THE SECURITIES ACT OR IS NOT MADE IN ACCORDANCE WITH FEDERAL AND STATE LAWS.

 

    	A-22-3

    	 

    

 

COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL
MORTGAGE

PASS-THROUGH CERTIFICATES, CLASS LR

 

	No.: LR-1	 	Percentage Interest: [_]%
	 	 	 
	 	 	
        CUSIP:12593QAY61

         

        ISIN:    US12593QAY612

 

This certifies that [              ] is the registered owner of the Percentage Interest evidenced by this Certificate in the Class LR Certificates issued by the Trust
Fund. The Class LR Certificateholder is not entitled to interest or principal distributions. The Class LR Certificateholder will
be entitled to receive the proceeds of the remaining assets of the Lower Tier REMIC, if any, on the Final Scheduled Distribution
Date for the Certificates, after distributions in respect of any accrued but unpaid interest on the Certificates and after distributions
in reduction of principal balance have reduced the principal balances of the Certificates to zero. It is not anticipated that there
will be any assets remaining in the Lower Tier REMIC or Trust Fund on the Final Scheduled Distribution Date following the distributions
on the Regular Certificates. The Trust Fund, described more fully below, consists primarily of a pool of Mortgage Loans secured
by first liens on commercial, multifamily and manufactured housing community (if any) properties and held in trust by the Trustee
and serviced by the Master Servicer. The Trust Fund was created, and the Mortgage Loans are to be serviced, pursuant to the Pooling
and Servicing Agreement (as defined below). The Holder of this Certificate, by virtue of the acceptance hereof, assents to the
terms, provisions and conditions of the Pooling and Servicing Agreement and is bound thereby.

 

The Pooling and Servicing
Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), between the Depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor (the “Operating Advisor”) Wilmington Trust, National Association, as trustee (the “Trustee”),
and Wells Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, evidences the issuance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class X-A, Class
A-M, Class B, Class C, Class D, Class X-B, Class X-C, Class X-D, Class X-E, Class X-F, Class E, Class F, Class G, Class H, Class
V, Class R and Class LR Certificates (the “Certificates”; the Holders of Certificates issued under the Pooling
and Servicing Agreement are collectively referred to herein as “Certificateholders”). This Certificate is issued
pursuant to, and in accordance with, the terms of the Pooling and Servicing Agreement. To the extent not defined herein, capitalized
terms used herein shall have the meanings assigned thereto in the Pooling and Servicing Agreement.

 

This Class LR Certificate
represents the sole “residual interest” in a “real estate mortgage investment conduit”, as those terms
are defined, respectively, in Sections 860G(a)(2) and 860D of the Internal Revenue Code of 1986, as amended. Each Holder of this
Certificate, by

 

 

1
For Rule 144A Certificates

2
For Rule 144A Certificates

 

    	A-22-4

    	 

    

 

acceptance hereof, agrees to treat, and take no action inconsistent with the treatment of, this Certificate in
accordance with the preceding sentence for purposes of federal income taxes, state and local income and franchise taxes and other
taxes imposed on or measured by income. The Holder of the largest Percentage Interest in the Class LR Certificates shall be the
“tax matters person” for the Lower-Tier REMIC pursuant to Treasury Regulations Section 1.860F-4(d), and the Certificate
Administrator is hereby irrevocably designated and shall serve as attorney-in-fact and agent for any such Person that is the “tax
matters person”.

 

The Certificate Administrator
makes no representation or warranty as to any of the statements contained herein or the validity or sufficiency of the Certificates
or the Mortgage Loans and has executed this Certificate in its limited capacity as Certificate Administrator under the Pooling
and Servicing Agreement. In the event that there is any conflict between any provision of this Certificate and any provision of
the Pooling and Servicing Agreement, such provision of this Certificate shall be superseded to the extent of such inconsistency.

 

All distributions (other
than the final distribution on any Certificate) will be made by the Paying Agent to the Persons in whose names the Certificates
are registered at the close of business on each Record Date, which will be the close of business on the last Business Day of the
calendar month preceding the month in which such Distribution Date occurs. Such distributions shall be made on each Distribution
Date other than the Termination Date to each Certificateholder of record on the related Record Date, by wire transfer of immediately
available funds to the account of such Holder at a bank or other entity located in the United States and having appropriate facilities
therefor if such Holder shall have provided the Paying Agent with wire instructions in writing at least five Business Days prior
to the related Record Date, or, otherwise, by check mailed by first-class mail to the address set forth therefor in the Certificate
Register. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such
Certificate at the office of the Certificate Administrator or its agent (which may be the Paying Agent or the Certificate Registrar
acting as such agent) that is specified in the notice to Holders of such final distribution.

 

Any funds not distributed
on the Termination Date because of the failure of any Certificateholders to tender their Certificates shall, on such date, be set
aside and held in trust for the benefit of the appropriate non-tendering Certificateholders. If any Certificates as to which notice
of the Termination Date has been given pursuant to the Pooling and Servicing Agreement shall not have been surrendered for cancellation
within six months after the time specified in such notice, the Certificate Administrator shall mail a second notice to the remaining
non-tendering Certificateholders, at their last addresses shown in the Certificate Register, to surrender their Certificates for
cancellation in order to receive, from such funds held, the final distribution with respect thereto. If within one year after the
second notice not all of such Certificates shall have been surrendered for cancellation, the Certificate Administrator may, directly
or through an agent, take appropriate steps to contact the remaining non-tendering Certificateholders concerning surrender of their
Certificates. The costs and expenses of holding such funds in trust and of contacting such Certificateholders shall be paid out
of such funds. If within two years after the second notice any such Certificates shall not have been surrendered for cancellation,
the Paying Agent shall distribute to the Certificate Administrator all amounts distributable to the Holders thereof, and the Certificate
Administrator shall thereafter hold such amounts for the benefit of such Holders until the earlier of (i) its termination as Certificate

 

    	A-22-5

    	 

    

 

Administrator under the Pooling and Servicing Agreement and the transfer of such amounts to a successor certificate administrator
and (ii) the termination of the Trust Fund and distribution of such amounts to the Residual Certificateholders. No interest shall
accrue or be payable to any Certificateholder on any amount held as a result of such Certificateholder’s failure to surrender
its Certificate(s) for final payment thereof in accordance with the Pooling and Servicing Agreement. Such funds held by the Certificate
Administrator may be invested under certain circumstances, and all income and gain realized from investment of such funds shall
accrue for its benefit.

 

This Certificate is limited
in right of payment to, among other things, certain collections and recoveries in respect of the Mortgage Loans, as more specifically
set forth herein and in the Pooling and Servicing Agreement.

 

As provided in the Pooling
and Servicing Agreement, the Trust Fund includes (in each case, to the extent of the Trust Fund’s interest therein and specifically
excluding any interest of any Serviced Companion Loan Noteholder therein): (i) such Mortgage Loans as from time to time are subject
to the Pooling and Servicing Agreement, together with the Mortgage Files relating thereto; (ii) all scheduled or unscheduled payments
on or collections in respect of the Mortgage Loans due after the Cut-off Date; (iii) the Trust Fund’s interest in any REO
Property; (iv) all revenues received in respect of any REO Property; (v) any Assignments of Leases, Rents and Profits and any security
agreements related to the Mortgage Loans; (vi) any indemnities or guaranties given as additional security for any Mortgage Loans;
(vii) a security interest in all assets deposited in the LockBox Accounts, Cash Collateral Accounts, Escrow Accounts and Reserve
Accounts; (viii) the Loss of Value Reserve Fund; (ix) the Collection Account, the Serviced Loan Combination Collection Accounts,
the Distribution Accounts, any Excess Liquidation Proceeds Account, the Interest Reserve Account, and the Trust’s interest
in any REO Account, including any amounts on deposit therein, assets credited thereto and any reinvestment income, as applicable;
(x) a security interest in any environmental indemnity agreements relating to the Mortgaged Properties; (xi) a security interest
in all insurance policies with respect to the Mortgage Loans and the Mortgaged Properties; (xii) the rights and remedies under
the Mortgage Loan Purchase Agreements relating to document delivery requirements with respect to the Mortgage Loans and the representations
and warranties of the related Mortgage Loan Seller regarding its Mortgage Loans; (xiii) the Lower-Tier Regular Interests; and (xiv)
the proceeds of the foregoing (other than any interest earned on deposits in the Lock-Box Accounts, Cash Collateral Accounts, Escrow
Accounts and any Reserve Accounts, to the extent such interest belongs to the related Borrower). As provided in the Pooling and
Servicing Agreement, withdrawals may be made from certain of the above accounts for purposes other than distributions to Certificateholders.

 

This Certificate does
not purport to summarize the Pooling and Servicing Agreement, and reference is made to the Pooling and Servicing Agreement for
the interests, rights, benefits, obligations and duties evidenced hereby, and the limitations thereon, and the rights, duties and
immunities of the Certificate Administrator.

 

As provided in the Pooling
and Servicing Agreement and subject to certain limitations set forth therein, this Certificate is transferable or exchangeable
only upon surrender of this Certificate to the Certificate Registrar at its offices together with an assignment and

 

    	A-22-6

    	 

    

 

transfer (executed
by the Holder or his duly authorized attorney), subject to the requirements in Article V of the Pooling and Servicing Agreement.
Upon surrender for registration of transfer of this Certificate, subject to the requirements Article V of the Pooling and Servicing
Agreement, the Certificate Administrator shall execute and the Authenticating Agent shall duly authenticate in the name of the
designated transferee or transferees, one or more new Certificates in authorized denominations of a like aggregate denomination
as the Certificate being surrendered. Such Certificates shall be delivered by the Certificate Registrar in accordance with Article
V of the Pooling and Servicing Agreement.

 

Prior to due presentation
of this Certificate for registration of transfer, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor,
the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent and any agent of any of them may treat
the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Master
Servicer, the Special Servicer, the Certificate Administrator, the Trustee, the Certificate Registrar, any Paying Agent or any
agent of any of them shall be affected by notice or knowledge to the contrary.

 

No fee or service charge
shall be imposed by the Certificate Registrar for its services in respect of any registration of transfer or exchange referred
to in Section 5.02 of the Pooling and Servicing Agreement other than for transfers to Institutional Accredited Investors as provided
in Section 5.02(h) of the Pooling and Servicing Agreement. In connection with any transfer to an Institutional Accredited Investor,
the transferor shall reimburse the Trust Fund for any costs (including the cost of the Certificate Registrar’s counsel’s
review of the documents and any legal opinions, submitted by the transferor or transferee to the Certificate Registrar as provided
in the Pooling and Servicing Agreement) incurred by the Certificate Registrar in connection with such transfer. The Certificate
Registrar may require payment by each transferor of a sum sufficient to cover any tax, expense or other governmental charge payable
in connection with any such transfer.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may be amended at any time by the Depositor, the Master Servicer, the Special Servicer, the
Certificate Administrator, the Operating Advisor and the Trustee without the consent of any of the Certificateholders or Serviced
Companion Loan Noteholders, (i) to cure any ambiguity or to correct any error; (ii) to cause the provisions of the Pooling and
Servicing Agreement or any Custodial Agreement to conform or be consistent with or in furtherance of the statements made in the
Prospectus or Private Placement Memorandum with respect to the Certificates, the Trust or the Pooling and Servicing Agreement or
to correct or supplement any provisions of the Pooling and Servicing Agreement or any Custodial Agreement which may be defective
or inconsistent with any other provisions of the Pooling and Servicing Agreement or any Custodial Agreement; (iii) to amend any
provision of the Pooling and Servicing Agreement or any Custodial Agreement to the extent necessary or desirable to maintain the
rating or ratings assigned to each of the Classes of Certificates or any Class of Serviced Companion Loan Securities by each Rating
Agency; provided, that such amendment does not reduce the consent or consultation rights of the Controlling Class
Representative or the right of the Controlling Class Representative to receive information under the Pooling and Servicing Agreement;
(iv) to amend or supplement a provision, or to supplement any other provisions to the extent not inconsistent with the provisions
of the Pooling and Servicing Agreement, or to effect any other

 

    	A-22-7

    	 

    

 

change which will not adversely affect in any material respect the
interests of any Certificateholder or Serviced Companion Loan Noteholder not consenting thereto, as evidenced in writing by an
Opinion of Counsel or, if solely affecting any Certificateholder of a rated Class or Serviced Companion Loan Noteholder, in respect
of which a No Downgrade Confirmation has been obtained relating to the Certificates of a rated Class and Serviced Companion Loan
Securities, if any; (v) to modify the procedures in the Pooling and Servicing Agreement relating to compliance with Rule 17g-5
of the Exchange Act; and (vi) in the event of a TIA Applicability Determination, to modify, eliminate or add to the provisions
of the Pooling and Servicing Agreement (A) to the extent necessary to effect the qualification of the Pooling and Servicing Agreement
under the TIA or under any similar federal statute hereafter enacted and to add to the Pooling and Servicing Agreement such other
provisions as may be expressly required by the TIA, and (B) to modify such other provisions of the Pooling and Servicing Agreement
to the extent necessary to make those provisions consistent with, and conform to, the modifications made pursuant to clause (A);
provided that any amendment pursuant to this clause (vi) shall be at the sole cost and expense of the Depositor.
Such amendment (a) shall not materially increase the obligations of the Depositor, the Trustee, the Paying Agent, the Certificate
Administrator, the Operating Advisor, the 17g-5 Information Provider, the Master Servicer or the Special Servicer without such
party’s consent; and (b) shall not adversely affect in any material respect the interests of any Certificateholder or Serviced
Companion Loan Noteholder not consenting thereto, as evidenced in the case of clauses (iii) through (v) above by (x) an Opinion
of Counsel or (y) solely in the case of a Certificateholder of a rated Class, receipt of a No Downgrade Confirmation from each
applicable Rating Agency. In no event shall any such amendment cause the Lower-Tier REMIC or the Upper-Tier REMIC to fail to qualify
as a REMIC or the Grantor Trust to fail to qualify as a grantor trust.

 

The Pooling and Servicing
Agreement or any Custodial Agreement may also be amended from time to time by the Depositor, the Master Servicer, the Special Servicer,
the Certificate Administrator, the Operating Advisor and the Trustee with the prior written consent of the Holders of Certificates
representing not less than 66-2/3% of the Percentage Interests of each Class of Certificates affected thereby (without regard to
Certificates held by the Depositor, any of the Depositor’s Affiliates and/or agents) and each Serviced Companion Loan Noteholder
affected thereby for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of
the Pooling and Servicing Agreement or modifying in any manner the rights of the Certificateholders or the Serviced Companion Loan
Noteholders; provided, that no such amendment may:

 

		(i)	reduce in any manner the amount of, or delay the timing of, payments received on the Mortgage Loans
or Serviced Loan Combinations which are required to be distributed on any Certificate, without the consent of the Holders of Certificates
representing all of the Percentage Interests of the Class or Classes affected thereby or which are required to be distributed to
any Serviced Companion Loan Noteholders without the consent of such Serviced Companion Loan Noteholders;

 

		(ii)	change the percentages of Voting Rights or Percentage Interests of Holders of Certificates which
are required to consent to any action or inaction under the Pooling and Servicing Agreement;

 

    	A-22-8

    	 

    

 

		(iii)	alter the Servicing Standard, the Operating Advisor Standard or obligations of the Master Servicer
or the Trustee to make a P&I Advance or a Property Advance, without the consent of the Holders of Certificates representing
all of the Percentage Interests of the Class or Classes affected thereby and the consent of any affected Serviced Companion Loan
Noteholders; or

 

		(iv)	amend any section hereof which relates to the amendment of the Pooling and Servicing Agreement
without the consent of the Holders of all Certificates representing all of the Percentage Interests of the Class or Classes affected
thereby and the consent of any affected Serviced Companion Loan Noteholders.

 

Further, the Depositor,
the Master Servicer, the Special Servicer, the Certificate Administrator, the Operating Advisor and the Trustee, at any time and
from time to time, without the consent of the Certificateholders or, if applicable, the Serviced Companion Loan Noteholders, may
amend the Pooling and Servicing Agreement to modify, eliminate or add to any of its provisions (i) to such extent as shall be necessary
to maintain the qualification of the Lower-Tier REMIC or the Upper-Tier REMIC as a REMIC or the qualification of the Grantor Trust
as a grantor trust, or to prevent the imposition of any additional material state or local taxes, at all times that any Certificates
are outstanding; provided, that such action, as evidenced by an Opinion of Counsel (obtained at the expense
of the Trust Fund), is necessary or helpful to maintain such qualification or to prevent the imposition of any such taxes, and
would not adversely affect in any material respect the interest of any Certificateholder or, if applicable, any Serviced Companion
Loan Noteholder or (ii) to the extent necessary to comply with the Investment Company Act of 1940, as amended, the Exchange Act,
Regulation AB, and/or any related regulatory actions and/or interpretations.

 

The Certificateholder
owning a majority of the Percentage Interests in the Controlling Class and, if no such Certificateholder exercises such option,
the Special Servicer, and if the Special Servicer does not exercise such option, the Master Servicer, may effect an early termination
of the Trust Fund, upon not less than 30 days’ prior Notice of Termination given to the Trustee, the Special Servicer and
the Master Servicer any time on or after the Early Termination Notice Date (defined as any date as of which the aggregate Stated
Principal Balance of the Mortgage Loans is less than 1.0% of the aggregate Stated Principal Balance of the Mortgage Loans as of
the Cut-off Date) specifying the Anticipated Termination Date, by purchasing on such date all, but not less than all, of the Mortgage
Loans then included in the Trust Fund, and the Trust’s interest in all property acquired in respect of any Mortgage Loan,
at a purchase price, payable in cash, equal to the sum of, without duplication:

 

		(A)	100% of the Stated Principal Balance of each Mortgage Loan included in the Trust Fund as of the
last day of the month preceding such Anticipated Termination Date (less any P&I Advances previously made on account of principal);

 

		(B)	the fair market value of all other property included in the Trust Fund as of the last day of the
month preceding such Anticipated 

 

    	A-22-9

    	 

    

 

Termination Date, as determined by an Independent appraiser acceptable to the Master Servicer
as of a date not more than 30 days prior to the last day of the month preceding such Distribution Date;

 

		(C)	all unpaid interest accrued on the unpaid balance of each Mortgage Loan (including any Mortgage
Loan as to which title to the related Mortgaged Property has been acquired) at the Mortgage Rate to the last day of the month preceding
such Anticipated Termination Date (less any P&I Advances previously made on account of interest); and

 

		(D)	the aggregate amount of unreimbursed Advances, with interest thereon at the Advance Rate, and unpaid
Servicing Compensation, Special Servicing Compensation, Operating Advisor Fees, Trustee/Certificate Administrator Fees, the CREFC®
License Fees and Trust Fund expenses.

 

In addition, the Pooling
and Servicing Agreement provides that following the date on which the Class X-A Notional Amount, the Class X-B Notional Amount
and the Class X-C Notional Amount and the aggregate Certificate Balance of the Class A-1, Class A-2, Class A-SB, Class A-3, Class
A-4, Class A-M, Class B, Class C and Class D Certificates is reduced to zero, the Sole Certificateholder shall have the right to
exchange all of the then-outstanding Certificates (other than (i) the Class X-D, Class X-E and Class X-F Certificates if the Sole
Certificateholder has only taken an assignment of the Voting Rights of the Class X-D, Class X-E and Class X-F Certificates pursuant
to the definition of “Sole Certificateholder” and (ii) the Class V, Class R and Class LR Certificates) for all of the
Mortgage Loans and each REO Property remaining in the Trust Fund as contemplated by clause (ii) of Section 9.01(a) of the Pooling
and Servicing Agreement by giving written notice to all the parties to the Pooling and Servicing Agreement no later than 60 days
prior to the anticipated date of exchange.

 

All costs and expenses
incurred by any and all parties to the Pooling and Servicing Agreement or by the Trust Fund in connection with the purchase of
the Mortgage Loans and the other assets of the Trust Fund pursuant to Section 9.01(c) of the Pooling and Servicing Agreement shall
be borne by the party exercising its purchase rights thereunder. The Trustee and the Certificate Administrator shall be entitled
to rely conclusively on any determination made by an Independent appraiser pursuant to Section 9.01(c) of the Pooling and Servicing
Agreement.

 

The respective obligations
and responsibilities of the Master Servicer, the Special Servicer, the Depositor, the Certificate Administrator, the Operating
Advisor and the Trustee created by the Pooling and Servicing Agreement with respect to the Certificates (other than the obligations
of the Certificate Administrator to make certain payments and to send certain notices to Certificateholders as set forth in the
Pooling and Servicing Agreement) shall terminate upon payment (or provision for payment) to the Certificateholders and the Serviced
Companion Loan Noteholder of all amounts held by or on behalf of the Trustee, the Certificate Administrator and the Master Servicer,
as the case may be, required under the Pooling and Servicing Agreement to

 

    	A-22-10

    	 

    

 

be so paid on the Distribution Date following the earlier
to occur of (i) the purchase of the Mortgage Loans and all other property held by the Trust Fund in accordance with Section 9.01(c)
of the Pooling and Servicing Agreement; (ii) the exchange by the Sole Certificateholder of its Certificates for the Mortgage Loans
in accordance with Section 9.01(g) of the Pooling and Servicing Agreement; and (iii) the later of (a) the receipt or collection
of the last payment due on any Mortgage Loan included in the Trust Fund, or (b) the liquidation and disposition pursuant to the
Pooling and Servicing Agreement of the last asset held by the Trust Fund; provided that in no event shall the trust created by
the Pooling and Servicing Agreement continue beyond the expiration of 21 years from the death of the last survivor of the descendants
of Joseph P. Kennedy, the late Ambassador of the United States to the United Kingdom, living on the date hereof.

 

Unless the Certificate
of Authentication on this Certificate has been executed by the Authenticating Agent, by manual signature, this Certificate shall
not be entitled to any benefit under the Pooling and Servicing Agreement or be valid for any purpose.

 

    	A-22-11

    	 

    

 

IN WITNESS WHEREOF, the
Certificate Administrator has caused this Class LR Certificate to be duly executed.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Certificate
    Administrator
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

Certificate of Authentication

 

This is one of the Class
LR Certificates referred to in the Pooling and Servicing Agreement.

 

Dated: October 8, 2015

 

	 	WELLS FARGO BANK, NATIONAL
    ASSOCIATION, not in its individual capacity but solely as Authenticating
    Agent
	 	 	 
	 	By:	 
	 	 	Authorized Signatory

 

 

    	A-22-12

    	 

    

 

 

EXHIBIT B

 

MORTGAGE LOAN SCHEDULE

 

    	 

    	 

    

	COMM 2015 - CCRE26 - Mortgage Loan Schedule	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Mortgage
    Loan	 	 	 	 	 	 	 	 	 	 	 	Mortage	 	Original
    Principal	 	Cut-off
    Date 	 	Maturity
    Date	 	Due
	ID	 	Loan Number	 	 Seller	 	Mortgage Loan Name	 	Street Address	 	City	 	State	 	Zip Code	 	Rate	 	Balance	 	Stated Principal Balance	 	or ARD	 	Date 
	GACC1	 	1	 	GACC	 	Prudential Plaza	 	130 East Randolph Street & 180 North Stetson Avenue	 	Chicago	 	IL	 	60601	 	4.6100%	 	$115,000,000	 	$115,000,000.00 	 	8/6/2025	 	6
	GACC2	 	2	 	GACC	 	11 Madison Avenue	 	11 Madison Avenue	 	New York	 	NY	 	10010	 	3.5602%	 	$70,000,000	 	$70,000,000.00 	 	9/6/2025	 	6
	GACC3	 	3	 	GACC	 	Ashley Park	 	312 Newnan Crossing Bypass	 	Newnan	 	GA	 	30265	 	4.1400%	 	$68,200,000	 	$68,200,000.00 	 	6/6/2025	 	6
	20154363	 	4	 	JLC	 	Surf City Beach Cottages	 	80 Huntington Street	 	Huntington Beach	 	CA	 	92648	 	4.4850%	 	$52,000,000	 	$52,000,000.00	 	8/6/2025	 	6
	CCRE5	 	5	 	CCRE	 	Devon Park Drive Corporate Campus	 	1170, 1180 & 1190 Devon Park Drive	 	Wayne	 	PA	 	19087	 	4.7695%	 	$47,250,000	 	$47,250,000.00	 	8/6/2025	 	6
	CCRE6	 	6	 	CCRE	 	Rosetree Corporate Center	 	1400 North Providence Road	 	Media	 	PA	 	19063	 	5.0145%	 	$45,500,000	 	$45,500,000.00	 	9/6/2025	 	6
	20154258	 	7	 	JLC	 	Portofino Plaza	 	1401 Ocean Avenue	 	Santa Monica	 	CA	 	90401	 	3.9990%	 	$45,000,000	 	$45,000,000.00	 	4/6/2025	 	6
	20154750	 	8	 	JLC	 	Crossroads Office Portfolio	 	Various	 	Various	 	NY	 	11749	 	5.2200%	 	$44,500,000	 	$44,454,004.46 	 	9/6/2025	 	6
	20154750.01	 	8.01	 	JLC	 	Crossroads Corporate Center	 	1363-1393 Veterans Memorial Highway	 	Hauppauge	 	NY	 	11749	 	5.2200%	 	$29,000,000	 	$28,970,025.38 	 	 	 	 
	20154750.02	 	8.02	 	JLC	 	Crossroads Executive Center	 	1707-1797 Veterans Memorial Highway	 	Islandia	 	NY	 	11749	 	5.2200%	 	$15,500,000	 	$15,483,979.08 	 	 	 	 
	GACC9	 	9	 	GACC	 	Chapel Square Retail	 	220 Beaver Creek Place; 82 East Beaver Creek Boulevard	 	Avon	 	CO	 	81620	 	4.6200%	 	$36,000,000	 	$36,000,000.00	 	9/6/2025	 	6
	GACC10	 	10	 	GACC	 	Heartland Industrial Portfolio	 	Various	 	Various	 	Various	 	Various	 	4.3060%	 	$35,000,000	 	$35,000,000.00 	 	7/1/2025	 	1
	GACC10.01	 	10.01	 	GACC	 	1080 Jenkins Brothers Road	 	1080 Jenkins Brothers Road	 	 Blythewood	 	SC	 	29016	 	4.3060%	 	$4,297,355	 	$4,297,354.62 	 	 	 	 
	GACC10.02	 	10.02	 	GACC	 	4080 Perry Boulevard	 	4080 Perry Boulevard	 	Whitestown	 	IN	 	46075	 	4.3060%	 	$2,600,737	 	$2,600,736.69 	 	 	 	 
	GACC10.03	 	10.03	 	GACC	 	5045 West 79th Street	 	5045 West 79th Street	 	 Indianapolis	 	IN	 	46268	 	4.3060%	 	$2,511,441	 	$2,511,441.01 	 	 	 	 
	GACC10.04	 	10.04	 	GACC	 	117-119 Industrial Drive	 	117-119 Industrial Drive	 	 Granite City	 	IL	 	62040	 	4.3060%	 	$2,388,659	 	$2,388,659.45 	 	 	 	 
	GACC10.05	 	10.05	 	GACC	 	150 Omicron Court	 	150 Omicron Court	 	 Shepherdsville	 	KY	 	40165	 	4.3060%	 	$2,143,096	 	$2,143,096.33 	 	 	 	 
	GACC10.06	 	10.06	 	GACC	 	431 Smith Lane	 	431 Smith Lane	 	 Jackson	 	TN	 	38301	 	4.3060%	 	$2,088,961	 	$2,088,960.82 	 	 	 	 
	GACC10.07	 	10.07	 	GACC	 	4800 Corporation Drive	 	4800 Corporation Drive	 	 Fayetteville	 	NC	 	28306	 	4.3060%	 	$2,031,477	 	$2,031,476.73 	 	 	 	 
	GACC10.08	 	10.08	 	GACC	 	6500 Adelaide Court	 	6500 Adelaide Court	 	 Groveport	 	OH	 	43125	 	4.3060%	 	$1,852,885	 	$1,852,885.37 	 	 	 	 
	GACC10.09	 	10.09	 	GACC	 	271 Omega Parkway	 	271 Omega Parkway	 	 Shepherdsville	 	KY	 	40165	 	4.3060%	 	$1,607,322	 	$1,607,322.25 	 	 	 	 
	GACC10.1	 	10.1	 	GACC	 	1380 Perry Road	 	1380 Perry Road	 	 Plainfield	 	IN	 	46231	 	4.3060%	 	$1,484,541	 	$1,484,540.69 	 	 	 	 
	GACC10.11	 	10.11	 	GACC	 	2000 Stanley Gault Parkway	 	2000 Stanley Gault Parkway	 	 Louisville	 	KY	 	40223	 	4.3060%	 	$1,384,083	 	$1,384,083.04 	 	 	 	 
	GACC10.12	 	10.12	 	GACC	 	300 Oak Bluff Lane	 	300 Oak Bluff Lane	 	 Goodlettsville	 	TN	 	37072	 	4.3060%	 	$1,350,597	 	$1,350,597.16 	 	 	 	 
	GACC10.13	 	10.13	 	GACC	 	120 Trans Air Drive	 	120 Trans Air Drive	 	 Morrisville	 	NC	 	27560	 	4.3060%	 	$1,350,597	 	$1,350,597.16 	 	 	 	 
	GACC10.14	 	10.14	 	GACC	 	5201 Interchange Way	 	5201 Interchange Way	 	 Louisville	 	KY	 	40229	 	4.3060%	 	$1,205,492	 	$1,205,491.68 	 	 	 	 
	GACC10.15	 	10.15	 	GACC	 	5250-5350 Lakeview Parkway	 	5250-5350 Lakeview Parkway	 	 Indianapolis	 	IN	 	46268	 	4.3060%	 	$1,205,492	 	$1,205,491.68 	 	 	 	 
	GACC10.16	 	10.16	 	GACC	 	2850 Earhart Court	 	2850 Earhart Court	 	 Hebron	 	KY	 	41048	 	4.3060%	 	$1,172,006	 	$1,172,005.80 	 	 	 	 
	GACC10.17	 	10.17	 	GACC	 	7555 Woodland Drive	 	7555 Woodland Drive	 	 Indianapolis	 	IN	 	46278	 	4.3060%	 	$1,105,034	 	$1,105,034.04 	 	 	 	 
	GACC10.18	 	10.18	 	GACC	 	801 Swan Drive	 	801 Swan Drive	 	 Smyrna	 	TN	 	37167	 	4.3060%	 	$965,510	 	$965,509.54 	 	 	 	 
	GACC10.19	 	10.19	 	GACC	 	7601-7687 Winton Drive	 	7601-7687 Winton Drive	 	 Indianapolis	 	IN	 	46268	 	4.3060%	 	$915,281	 	$915,280.72 	 	 	 	 
	GACC10.2	 	10.2	 	GACC	 	7645 Woodland Drive	 	7645 Woodland Drive	 	 Indianapolis	 	IN	 	46278	 	4.3060%	 	$602,746	 	$602,745.84 	 	 	 	 
	GACC10.21	 	10.21	 	GACC	 	200 Northfork Lane	 	200 Northfork Lane	 	 Goodlettsville	 	TN	 	37072	 	4.3060%	 	$429,735	 	$429,735.46 	 	 	 	 
	GACC10.22	 	10.22	 	GACC	 	100 Northfork Lane	 	100 Northfork Lane	 	 Goodlettsville	 	TN	 	37072	 	4.3060%	 	$306,954	 	$306,953.90 	 	 	 	 
	GACC11	 	11	 	GACC	 	Hotel Lucia	 	400 Southwest Broadway	 	Portland	 	OR	 	97205	 	4.6000%	 	$33,200,000	 	$33,118,231.39 	 	8/6/2025	 	6
	GACC12	 	12	 	GACC	 	Hotel Max	 	620 Stewart Street	 	Seattle	 	WA	 	98101	 	4.5900%	 	$32,300,000	 	$32,220,286.65 	 	8/6/2025	 	6
	GACC13	 	13	 	GACC	 	JDSK Portfolio - AHIP	 	Various	 	Various	 	Various	 	Various	 	4.2400%	 	$32,000,000	 	$32,000,000.00 	 	7/6/2025	 	6
	GACC13.01	 	13.01	 	GACC	 	Holiday Inn Express & Suites Emporia	 	3007 West 18th Avenue	 	Emporia	 	KS	 	66801	 	4.2400%	 	$5,570,600	 	$5,570,600.00 	 	 	 	 
	GACC13.02	 	13.02	 	GACC	 	Hampton Inn Chickasha	 	3004 South 4th Street	 	Chickasha	 	OK	 	73018	 	4.2400%	 	$5,261,122	 	$5,261,122.00 	 	 	 	 
	GACC13.03	 	13.03	 	GACC	 	Holiday Inn Express & Suites Chickasha	 	2610 South 4th Street	 	Chickasha	 	OK	 	73018	 	4.2400%	 	$4,332,689	 	$4,332,689.00 	 	 	 	 
	GACC13.04	 	13.04	 	GACC	 	Holiday Inn Express & Suites Mattoon	 	121 Swords Drive	 	Mattoon	 	IL	 	61938	 	4.2400%	 	$4,023,210	 	$4,023,210.00 	 	 	 	 
	GACC13.05	 	13.05	 	GACC	 	Holiday Inn Express & Suites Nevada	 	311 South Johnson Drive	 	Nevada	 	MO	 	64772	 	4.2400%	 	$4,023,210	 	$4,023,210.00 	 	 	 	 
	GACC13.06	 	13.06	 	GACC	 	Holiday Inn Express & Suites Bethany	 	7840 Northwest 39th Expressway	 	Bethany	 	OK	 	73008	 	4.2400%	 	$3,218,569	 	$3,218,569.00 	 	 	 	 
	GACC13.07	 	13.07	 	GACC	 	Holiday Inn Express & Suites Dubuque	 	2080 Holliday Drive	 	Dubuque	 	IA	 	52002	 	4.2400%	 	$3,094,778	 	$3,094,778.00 	 	 	 	 
	GACC13.08	 	13.08	 	GACC	 	Holiday Inn Express & Suites Jacksonville	 	2501 Holiday Lane	 	Jacksonville	 	IL	 	62650	 	4.2400%	 	$2,475,822	 	$2,475,822.00 	 	 	 	 
	GACC14	 	14	 	GACC	 	Empire Corporate Plaza	 	10740, 10750, & 10760 4th Street	 	Rancho Cucamonga	 	CA	 	91730	 	4.1300%	 	$32,000,000	 	$32,000,000.00 	 	8/6/2025	 	6
	GACC15	 	15	 	GACC	 	Hampton Inn & Suites Alexandria	 	5821 Richmond Highway	 	Alexandria	 	VA	 	22303	 	4.5900%	 	$28,630,000	 	$28,457,141.26 	 	6/1/2025	 	1
	CCRE16	 	16	 	CCRE	 	Park at Perimeter Center East	 	41, 47 and 53 Perimeter Center East	 	Dunwoody	 	GA	 	30346	 	4.8795%	 	$27,200,000	 	$27,136,731.96	 	8/6/2020	 	6
	CCRE17	 	17	 	CCRE	 	Preferred Freezer Perth Amboy	 	536 Fayette Street	 	Perth Amboy	 	NJ	 	08861	 	4.3600%	 	$21,125,000	 	$21,125,000.00	 	8/6/2025	 	6
	CCRE18	 	18	 	CCRE	 	ART Florida & Ohio MF Portfolio III	 	Various	 	Various	 	Various	 	Various	 	4.8675%	 	$20,500,000	 	$20,500,000.00 	 	9/6/2025	 	6
	CCRE18.01	 	18.01	 	CCRE	 	Larkspur	 	5350 Jasmine Lane	 	Hilliard	 	OH	 	43026	 	4.8675%	 	$5,302,368	 	$5,302,367.94 	 	 	 	 
	CCRE18.02	 	18.02	 	CCRE	 	Suffolk Grove	 	2288 Suffolk Lane	 	Grove City	 	OH	 	43123	 	4.8675%	 	$4,854,281	 	$4,854,280.51 	 	 	 	 
	CCRE18.03	 	18.03	 	CCRE	 	Shadow Bay	 	8833 Old Kings Road South	 	Jacksonville	 	FL	 	32257	 	4.8675%	 	$4,480,874	 	$4,480,874.32 	 	 	 	 
	CCRE18.04	 	18.04	 	CCRE	 	Cedarwood	 	1529-C Northeast 39th Avenue	 	Ocala	 	FL	 	34470	 	4.8675%	 	$3,248,634	 	$3,248,633.88 	 	 	 	 
	CCRE18.05	 	18.05	 	CCRE	 	Millburn	 	2655-2661 Millburn Avenue	 	Stow	 	OH	 	44224 	 	4.8675%	 	$2,613,843	 	$2,613,843.35 	 	 	 	 
	GACC19	 	19	 	GACC	 	Clearview Apartments	 	3555 Market Place West	 	University Place	 	WA	 	98466	 	4.4000%	 	$15,300,000	 	$15,300,000.00 	 	9/6/2025	 	6
	CCRE20	 	20	 	CCRE	 	Hilton Garden Inn El Paso	 	111 West University Avenue	 	El Paso	 	TX	 	79902	 	4.9390%	 	$14,400,000	 	$14,366,914.97	 	8/6/2025	 	6
	20154501	 	21	 	JLC	 	15 Valley Drive	 	15 Valley Drive	 	Greenwich	 	CT	 	06830	 	4.6680%	 	$13,500,000	 	$13,467,206.88	 	8/6/2025	 	6
	GACC22	 	22	 	GACC	 	Logistics Pointe	 	605 Selig Drive Southwest	 	Atlanta	 	GA	 	30336	 	4.5500%	 	$13,312,500	 	$13,312,500.00	 	9/6/2025	 	6
	GACC23	 	23	 	GACC	 	Spruce Creek Shops	 	17860 Southeast 109th Avenue	 	Summerfield	 	FL	 	34491	 	4.8000%	 	$11,250,000	 	$11,210,773.27	 	7/6/2025	 	6
	CCRE24	 	24	 	CCRE	 	89 Cross Street	 	89 Cross Street	 	Holliston	 	MA	 	01746	 	4.8690%	 	$10,700,000	 	$10,700,000.00	 	9/6/2025	 	6
	CCRE25	 	25	 	CCRE	 	Founders Marketplace	 	750, 804, 848 North Ridge Road	 	Castle Rock	 	CO	 	80104	 	4.6205%	 	$10,350,000	 	$10,350,000.00	 	8/6/2025	 	6
	GACC26	 	26	 	GACC	 	Halekuai Center	 	563-565 Farrington Highway	 	Kapolei	 	HI	 	77056	 	4.8200%	 	$10,350,000	 	$10,350,000.00	 	8/6/2025	 	6
	CCRE27	 	27	 	CCRE	 	Newport News Industrial Complex	 	5001 Aluminum Avenue & 5201, 5401, 5501 City Line Road
    	 	Newport News	 	VA	 	23607	 	4.7005%	 	$10,000,000	 	$9,987,304.04	 	9/6/2025	 	6
	CCRE28	 	28	 	CCRE	 	Leisure Lake MHP	 	48303 North 20th Street West	 	Lancaster	 	CA	 	93534	 	4.9365%	 	$9,562,000	 	$9,550,375.24	 	9/6/2025	 	6
	GACC29	 	29	 	GACC	 	Columbus Village East	 	4401 & 4421 Virginia Beach Boulevard	 	Virginia Beach	 	VA	 	23462	 	4.2100%	 	$9,450,000	 	$9,424,835.90	 	8/6/2025	 	6
	GACC30	 	30	 	GACC	 	Walker Springs Shopping Center	 	8427 Kingston Pike	 	Knoxville	 	TN	 	37919	 	4.5400%	 	$9,200,000	 	$9,200,000.00	 	7/6/2025	 	6

 

    	 

    	 

    

 

	COMM 2015 - CCRE26 - Mortgage Loan Schedule	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Mortgage
    Loan	 	 	 	 	 	 	 	 	 	 	 	Mortage	 	Original
    Principal	 	Cut-off
    Date 	 	Maturity
    Date	 	Due
	ID	 	Loan Number	 	 Seller	 	Mortgage Loan Name	 	Street Address	 	City	 	State	 	Zip Code	 	Rate	 	Balance	 	Stated Principal Balance	 	or ARD	 	Date 
	20143666	 	31	 	JLC	 	Homewood Suites by Hilton Scottsdale	 	9880 North Scottsdale Road	 	Scottsdale	 	AZ	 	85253	 	4.9050%	 	$9,000,000	 	$8,969,315.31	 	7/6/2025	 	6
	CCRE32	 	32	 	CCRE	 	Wheeler North Carolina Portfolio	 	Various	 	Various	 	NC	 	Various	 	4.3040%	 	$8,770,000	 	$8,770,000.00 	 	9/6/2025	 	6
	CCRE32.01	 	32.01	 	CCRE	 	Nashville Commons	 	1151 Eastern Avenue	 	Nashville	 	NC	 	27856	 	4.3040%	 	$3,365,000	 	$3,365,000.00 	 	 	 	 
	CCRE32.02	 	32.02	 	CCRE	 	Franklinton Square	 	3380 US Highway 1	 	Franklinton	 	NC	 	27525	 	4.3040%	 	$2,895,000	 	$2,895,000.00 	 	 	 	 
	CCRE32.03	 	32.03	 	CCRE	 	Cardinal Plaza	 	1419 East Andrews Avenue	 	Henderson	 	NC	 	27536	 	4.3040%	 	$2,510,000	 	$2,510,000.00 	 	 	 	 
	CCRE33	 	33	 	CCRE	 	Town Center Medical Office	 	130 Town Center Drive	 	Troy	 	MI	 	48084	 	4.8575%	 	$8,500,000	 	$8,489,514.83	 	9/6/2025	 	6
	CCRE34	 	34	 	CCRE	 	2210 Main Street	 	2210 Main Street	 	Santa Monica	 	CA	 	90405	 	4.9490%	 	$5,220,000	 	$5,220,000.00	 	9/6/2025	 	6
	CCRE35	 	35	 	CCRE	 	2010 Westgate Avenue	 	2010 South Westgate Avenue	 	Los Angeles	 	CA	 	90025	 	4.9490%	 	$3,180,000	 	$3,180,000.00	 	9/6/2025	 	6
	20144006	 	36	 	JLC	 	Walmart Lake Geneva	 	201 South Edwards Boulevard	 	Lake Geneva	 	WI	 	53147	 	4.1500%	 	$8,300,000	 	$8,300,000.00	 	4/6/2025	 	6
	20154512	 	37	 	JLC	 	Petaluma Town Center	 	5 and 200 C Street, 25 Petaluma Boulevard South, 100 and
    102 Second Street	 	Petaluma	 	CA	 	94952	 	4.0600%	 	$8,200,000	 	$8,200,000.00	 	6/6/2025	 	6
	20144083	 	38	 	JLC	 	Mingo Marketplace Retail	 	10303 East 71st Street	 	Tulsa	 	OK	 	74133	 	4.8000%	 	$8,000,000	 	$7,942,778.68	 	4/6/2020	 	6
	CCRE39	 	39	 	CCRE	 	USF Holland Distribution Center	 	10151 South Division Avenue	 	Byron Center	 	MI	 	49315	 	4.5000%	 	$7,750,000	 	$7,739,794.39	 	9/6/2025	 	6
	CCRE40	 	40	 	CCRE	 	Wood Tavern Wynwood	 	2507-2531 Northwest 2nd Avenue	 	Miami	 	FL	 	33127	 	4.6905%	 	$7,700,000	 	$7,700,000.00	 	8/6/2020	 	6
	CCRE41	 	41	 	CCRE	 	Great Neck Office Building	 	175 Great Neck Road	 	Great Neck Plaza	 	NY	 	11021	 	4.6720%	 	$7,500,000	 	$7,500,000.00	 	8/6/2025	 	6
	20154439	 	42	 	JLC	 	CVS - Carmel, IN	 	13090 Pettigru Drive	 	Carmel	 	IN	 	46032	 	4.6350%	 	$6,262,500	 	$6,262,500.00	 	6/6/2025	 	6
	CCRE43	 	43	 	CCRE	 	Grand Hilton Office	 	8273 West Grand River	 	Brighton	 	MI	 	48116	 	4.8440%	 	$6,130,000	 	$6,122,419.55	 	9/6/2025	 	6
	CCRE44	 	44	 	CCRE	 	Modesto Portfolio 	 	Various	 	Modesto 	 	CA	 	95356	 	4.9600%	 	$6,100,000	 	$6,082,832.38 	 	8/6/2025	 	6
	CCRE44.01	 	44.01	 	CCRE	 	401 Bangs Avenue	 	401 Bangs Avenue	 	Modesto 	 	CA	 	95356	 	4.9600%	 	$1,740,713	 	$1,735,814.41 	 	 	 	 
	CCRE44.02	 	44.02	 	CCRE	 	501 Bangs Avenue	 	501 Bangs Avenue	 	Modesto	 	CA	 	95356	 	4.9600%	 	$1,590,652	 	$1,586,175.23 	 	 	 	 
	CCRE44.03	 	44.03	 	CCRE	 	450 Glass Lane	 	450 Glass Lane	 	Modesto	 	CA	 	95356	 	4.9600%	 	$1,545,633	 	$1,541,283.48 	 	 	 	 
	CCRE44.04	 	44.04	 	CCRE	 	500 Glass Lane 	 	500 Glass Lane 	 	Modesto	 	CA	 	95356	 	4.9600%	 	$1,223,001	 	$1,219,559.26 	 	 	 	 
	CCRE45	 	45	 	CCRE	 	CAL Ranch Plaza	 	232-276 North Jones Boulevard	 	Las Vegas 	 	NV	 	89107	 	4.5030%	 	$5,400,000	 	$5,392,892.87	 	9/6/2025	 	6
	GACC46	 	46	 	GACC	 	Lynnhaven Square	 	2077 & 2085 Lynnhaven Parkway	 	Virginia Beach	 	VA	 	23456	 	4.3400%	 	$5,000,000	 	$5,000,000.00	 	9/6/2025	 	6
	CCRE47	 	47	 	CCRE	 	La Mirada Crossroads 2 	 	12251 La Mirada Boulevard	 	La Mirada	 	CA	 	90638	 	4.6000%	 	$5,000,000	 	$4,987,685.45	 	8/6/2025	 	6
	20154556	 	48	 	JLC	 	Carillon Court	 	444-464 North Weber Road	 	Romeoville	 	IL	 	60446	 	4.9290%	 	$4,800,000	 	$4,788,948.78	 	8/6/2025	 	6
	GACC49	 	49	 	GACC	 	Adams Court Apartments	 	2700 East Adams Court	 	Cudahy	 	WI	 	53110	 	4.7000%	 	$4,800,000	 	$4,782,904.46	 	7/6/2025	 	6
	CCRE50	 	50	 	CCRE	 	Walgreens Nashville	 	2421 Lebanon Pike	 	Nashville	 	TN	 	37214	 	4.8000%	 	$4,750,000	 	$4,744,078.40	 	9/6/2025	 	6
	CCRE51	 	51	 	CCRE	 	Defuniak Square	 	1030 US Highway 331 South	 	Defuniak Springs	 	FL	 	32435	 	4.7210%	 	$4,700,000	 	$4,694,055.24	 	9/6/2025	 	6
	CCRE52	 	52	 	CCRE	 	Best Buy Menomonee Falls	 	North 95 West 16855 Richfield Way	 	Menomonee Falls	 	WI	 	53051	 	4.8030%	 	$4,700,000	 	$4,693,125.99	 	9/6/2025	 	6
	20154685	 	53	 	JLC	 	1123 Zonolite	 	1123 Zonolite Road	 	Atlanta	 	GA	 	30306	 	4.3440%	 	$4,650,000	 	$4,637,942.69	 	8/6/2025	 	6
	20154459	 	54	 	JLC	 	Reilley’s Plaza 	 	7 Greenwood Drive	 	Hilton Head Island	 	SC	 	29928	 	4.3930%	 	$4,000,000	 	$3,984,810.23	 	7/6/2025	 	6
	GACC55	 	55	 	GACC	 	Cherrywood Mobile Home Park	 	8412 38th Street East	 	Edgewood	 	WA	 	98371	 	5.3900%	 	$3,975,000	 	$3,966,694.54	 	8/6/2025	 	6
	CCRE56	 	56	 	CCRE	 	Riverside Plaza	 	320-420 South Main Street	 	Red Bluff	 	CA	 	96080	 	4.8510%	 	$3,850,000	 	$3,843,389.87	 	9/6/2025	 	6
	CCRE57	 	57	 	CCRE	 	Newberry Estates MHP	 	3050 Old Trail Road	 	Etters	 	PA	 	17319	 	4.7235%	 	$3,740,000	 	$3,735,271.65	 	9/6/2025	 	6
	20154611	 	58	 	JLC	 	Rite Aid Ranson	 	74 Joshua M. Freeman Boulevard	 	Ranson	 	WV	 	25438	 	4.4850%	 	$3,500,000	 	$3,500,000.00	 	8/6/2025	 	6
	GACC59	 	59	 	GACC	 	Charlevoix Estates MHC	 	6685 Michigan 66	 	Charlevoix	 	MI	 	49720	 	4.8100%	 	$2,800,000	 	$2,790,257.67	 	7/6/2025	 	6
	CCRE60	 	60	 	CCRE	 	Las Misiones	 	3805 Plantation Grove Boulevard	 	Mission	 	TX	 	78572	 	4.6335%	 	$2,700,000	 	$2,693,395.19	 	8/6/2025	 	6

 

    	 

    	 

    

 

	COMM 2015 - CCRE26 - Mortgage Loan Schedule	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Servicing
    Fee Rate	 	Interest	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Mortgage Loan	 	 	 	Current Monthly	 	Master Servicing	 	Primary Servicing	 	Accrual 	 	Letter of 	 	 	 	Part of	 	Leasehold	 	Current Mezzanine
	ID	 	Loan Number	 	 Seller	 	Mortgage Loan Name	 	Debt Service	 	Fee Rate	 	Fee Rate	 	Method	 	Credit	 	Post-ARD Revised Rate	 	Loan Combination	 	Interest	 	or Subordinate Debt
	GACC1	 	1	 	GACC	 	Prudential Plaza	 	456,518.06	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	Yes	 	 	 	 
	GACC2	 	2	 	GACC	 	11 Madison Avenue	 	214,600.94	 	0.0025%	 	0.00125%	 	Actual/360	 	None	 	NAP	 	Yes	 	Fee Simple/Leasehold	 	Yes
	GACC3	 	3	 	GACC	 	Ashley Park	 	243,133.00	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	20154363	 	4	 	JLC	 	Surf City Beach Cottages	 	200,828.33	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE5	 	5	 	CCRE	 	Devon Park Drive Corporate Campus	 	194,059.03	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	Fee Simple/Leasehold	 	 
	CCRE6	 	6	 	CCRE	 	Rosetree Corporate Center	 	196,470.90	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	20154258	 	7	 	JLC	 	Portofino Plaza	 	154,961.25	 	0.0025%	 	0.0025%	 	Actual/360	 	Yes; $3,500,000	 	NAP	 	 	 	 	 	 
	20154750	 	8	 	JLC	 	Crossroads Office Portfolio	 	239,350.33	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	Yes
	20154750.01	 	8.01	 	JLC	 	Crossroads Corporate Center	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	20154750.02	 	8.02	 	JLC	 	Crossroads Executive Center	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC9	 	9	 	GACC	 	Chapel Square Retail	 	143,220.00	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC10	 	10	 	GACC	 	Heartland Industrial Portfolio	 	129,778.06	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	Yes	 	 	 	 
	GACC10.01	 	10.01	 	GACC	 	1080 Jenkins Brothers Road	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.02	 	10.02	 	GACC	 	4080 Perry Boulevard	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.03	 	10.03	 	GACC	 	5045 West 79th Street	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.04	 	10.04	 	GACC	 	117-119 Industrial Drive	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.05	 	10.05	 	GACC	 	150 Omicron Court	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.06	 	10.06	 	GACC	 	431 Smith Lane	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.07	 	10.07	 	GACC	 	4800 Corporation Drive	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.08	 	10.08	 	GACC	 	6500 Adelaide Court	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.09	 	10.09	 	GACC	 	271 Omega Parkway	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.1	 	10.1	 	GACC	 	1380 Perry Road	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.11	 	10.11	 	GACC	 	2000 Stanley Gault Parkway	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.12	 	10.12	 	GACC	 	300 Oak Bluff Lane	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.13	 	10.13	 	GACC	 	120 Trans Air Drive	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.14	 	10.14	 	GACC	 	5201 Interchange Way	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.15	 	10.15	 	GACC	 	5250-5350 Lakeview Parkway	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.16	 	10.16	 	GACC	 	2850 Earhart Court	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.17	 	10.17	 	GACC	 	7555 Woodland Drive	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.18	 	10.18	 	GACC	 	801 Swan Drive	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.19	 	10.19	 	GACC	 	7601-7687 Winton Drive	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.2	 	10.2	 	GACC	 	7645 Woodland Drive	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.21	 	10.21	 	GACC	 	200 Northfork Lane	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC10.22	 	10.22	 	GACC	 	100 Northfork Lane	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC11	 	11	 	GACC	 	Hotel Lucia	 	170,197.93	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC12	 	12	 	GACC	 	Hotel Max	 	165,391.15	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC13	 	13	 	GACC	 	JDSK Portfolio - AHIP	 	116,835.56	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC13.01	 	13.01	 	GACC	 	Holiday Inn Express & Suites Emporia	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC13.02	 	13.02	 	GACC	 	Hampton Inn Chickasha	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC13.03	 	13.03	 	GACC	 	Holiday Inn Express & Suites Chickasha	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC13.04	 	13.04	 	GACC	 	Holiday Inn Express & Suites Mattoon	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC13.05	 	13.05	 	GACC	 	Holiday Inn Express & Suites Nevada	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC13.06	 	13.06	 	GACC	 	Holiday Inn Express & Suites Bethany	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC13.07	 	13.07	 	GACC	 	Holiday Inn Express & Suites Dubuque	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC13.08	 	13.08	 	GACC	 	Holiday Inn Express & Suites Jacksonville	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC14	 	14	 	GACC	 	Empire Corporate Plaza	 	113,804.44	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC15	 	15	 	GACC	 	Hampton Inn & Suites Alexandria	 	154,298.26	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE16	 	16	 	CCRE	 	Park at Perimeter Center East	 	144,018.94	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE17	 	17	 	CCRE	 	Preferred Freezer Perth Amboy	 	79,312.64	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE18	 	18	 	CCRE	 	ART Florida & Ohio MF Portfolio III	 	85,924.90	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE18.01	 	18.01	 	CCRE	 	Larkspur	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE18.02	 	18.02	 	CCRE	 	Suffolk Grove	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE18.03	 	18.03	 	CCRE	 	Shadow Bay	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE18.04	 	18.04	 	CCRE	 	Cedarwood	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE18.05	 	18.05	 	CCRE	 	Millburn	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	GACC19	 	19	 	GACC	 	Clearview Apartments	 	57,970.00	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE20	 	20	 	CCRE	 	Hilton Garden Inn El Paso	 	76,766.37	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	Leasehold	 	 
	20154501	 	21	 	JLC	 	15 Valley Drive	 	69,756.68	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC22	 	22	 	GACC	 	Logistics Pointe	 	52,159.11	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC23	 	23	 	GACC	 	Spruce Creek Shops	 	59,024.85	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE24	 	24	 	CCRE	 	89 Cross Street	 	44,862.43	 	0.0025%	 	0.0000%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE25	 	25	 	CCRE	 	Founders Marketplace	 	41,180.21	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC26	 	26	 	GACC	 	Halekuai Center	 	42,958.25	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	Leasehold	 	 
	CCRE27	 	27	 	CCRE	 	Newport News Industrial Complex	 	51,866.79	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE28	 	28	 	CCRE	 	Leisure Lake MHP	 	50,960.44	 	0.0025%	 	0.0000%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC29	 	29	 	GACC	 	Columbus Village East	 	46,267.30	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	Fee Simple/Leasehold	 	 
	GACC30	 	30	 	GACC	 	Walker Springs Shopping Center	 	35,966.89	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 

 

    	 

    	 

    

 

	COMM 2015 - CCRE26 - Mortgage Loan Schedule	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Servicing
    Fee Rate	 	Interest	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Mortgage Loan	 	 	 	Current Monthly	 	Master Servicing	 	Primary Servicing	 	Accrual 	 	Letter of 	 	 	 	Part of	 	Leasehold	 	Current Mezzanine
	ID	 	Loan Number	 	 Seller	 	Mortgage Loan Name	 	Debt Service	 	Fee Rate	 	Fee Rate	 	Method	 	Credit	 	Post-ARD Revised Rate	 	Loan Combination	 	Interest	 	or Subordinate Debt
	20143666	 	31	 	JLC	 	Homewood Suites by Hilton Scottsdale	 	47,792.76	 	0.0025%	 	0.0000%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE32	 	32	 	CCRE	 	Wheeler North Carolina Portfolio	 	32,503.57	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE32.01	 	32.01	 	CCRE	 	Nashville Commons	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE32.02	 	32.02	 	CCRE	 	Franklinton Square	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE32.03	 	32.03	 	CCRE	 	Cardinal Plaza	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE33	 	33	 	CCRE	 	Town Center Medical Office	 	44,892.45	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE34	 	34	 	CCRE	 	2210 Main Street	 	22,245.76	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE35	 	35	 	CCRE	 	2010 Westgate Avenue	 	13,552.01	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	20144006	 	36	 	JLC	 	Walmart Lake Geneva	 	29,660.97	 	0.0025%	 	0.0000%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	20154512	 	37	 	JLC	 	Petaluma Town Center	 	28,668.11	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	20144083	 	38	 	JLC	 	Mingo Marketplace Retail	 	41,973.23	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE39	 	39	 	CCRE	 	USF Holland Distribution Center	 	39,268.11	 	0.0025%	 	0.0025%	 	Actual/360	 	Yes - 1,350,360	 	NAP	 	 	 	 	 	 
	CCRE40	 	40	 	CCRE	 	Wood Tavern Wynwood	 	31,100.62	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE41	 	41	 	CCRE	 	Great Neck Office Building	 	30,173.33	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	20154439	 	42	 	JLC	 	CVS - Carmel, IN	 	24,995.20	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE43	 	43	 	CCRE	 	Grand Hilton Office	 	32,325.22	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE44	 	44	 	CCRE	 	Modesto Portfolio 	 	34,200.53	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE44.01	 	44.01	 	CCRE	 	401 Bangs Avenue	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE44.02	 	44.02	 	CCRE	 	501 Bangs Avenue	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE44.03	 	44.03	 	CCRE	 	450 Glass Lane	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE44.04	 	44.04	 	CCRE	 	500 Glass Lane 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CCRE45	 	45	 	CCRE	 	CAL Ranch Plaza	 	27,370.63	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	Fee Simple/Leasehold	 	 
	GACC46	 	46	 	GACC	 	Lynnhaven Square	 	18,686.11	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE47	 	47	 	CCRE	 	La Mirada Crossroads 2 	 	25,632.22	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	20154556	 	48	 	JLC	 	Carillon Court	 	25,559.56	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC49	 	49	 	GACC	 	Adams Court Apartments	 	24,894.61	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE50	 	50	 	CCRE	 	Walgreens Nashville	 	24,921.60	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE51	 	51	 	CCRE	 	Defuniak Square	 	24,435.34	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE52	 	52	 	CCRE	 	Best Buy Menomonee Falls	 	25,685.76	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	20154685	 	53	 	JLC	 	1123 Zonolite	 	23,131.82	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	20154459	 	54	 	JLC	 	Reilley’s Plaza 	 	20,013.90	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC55	 	55	 	GACC	 	Cherrywood Mobile Home Park	 	22,296.04	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE56	 	56	 	CCRE	 	Riverside Plaza	 	22,173.76	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE57	 	57	 	CCRE	 	Newberry Estates MHP	 	19,449.92	 	0.0025%	 	0.0000%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	20154611	 	58	 	JLC	 	Rite Aid Ranson	 	13,517.29	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	GACC59	 	59	 	GACC	 	Charlevoix Estates MHC	 	14,707.56	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 
	CCRE60	 	60	 	CCRE	 	Las Misiones	 	13,895.51	 	0.0025%	 	0.0025%	 	Actual/360	 	None	 	NAP	 	 	 	 	 	 

 

    	 

    	 

    

 

 

EXHIBIT C-1

 

FORM OF TRANSFEREE AFFIDAVIT

 

AFFIDAVIT PURSUANT TO

SECTION 860E(e)(4) OF THE

INTERNAL REVENUE CODE OF

1986, AS AMENDED

 

STATE OF NEW YORK          )

                                                     )    ss:

COUNTY OF NEW YORK      )

 

                                     ,
being first duly sworn, deposes and says:

 

1.          That
he/she is a                                      
of                                      
(the “Purchaser”), a                                      
duly organized and existing under the laws of the State of                                      
on behalf of which he/she makes this affidavit.

 

2.          That
the Purchaser’s Taxpayer Identification Number is                             .

 

3.          That
the Purchaser of the COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class [R] [LR] (the “Class
[R] [LR] Certificate”) is a Permitted Transferee (as defined in Article I of the Pooling and Servicing Agreement, dated
as of October 1, 2015 (the “Pooling and Servicing Agreement”), entered into between Deutsche Mortgage &
Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association, as master servicer, CWCapital Asset Management
LLC, as special servicer, Park Bridge Lender Services LLC, as operating advisor, Wilmington Trust, National Association, as trustee,
and Wells Fargo Bank, National Association, as certificate administrator, paying agent and custodian, or is acquiring the Class
[R] [LR] Certificate for the account of, or as agent (including as a broker, nominee, or other middleman) for, a Permitted Transferee
and has received from such person or entity an affidavit substantially in the form of this affidavit.

 

4.          That
the Purchaser historically has paid its debts as they have come due and intends to pay its debts as they come due in the future
and the Purchaser intends to pay taxes associated with holding the Class [R] [LR] Certificate as they become due.

 

5.          That
the Purchaser understands that it may incur tax liabilities with respect to the Class [R] [LR] Certificate in excess of any cash
flow generated by the Class [R] [LR] Certificate.

 

6.          That
the Purchaser will not transfer the Class [R] [LR] Certificate to any person or entity from which the Purchaser has not received
an affidavit substantially in the form of this affidavit or as to which the Purchaser has actual knowledge that the requirements
set forth in paragraph 3, paragraph 4 or paragraph 7 hereof are not satisfied or that the Purchaser has reason to know does not
satisfy the requirements set forth in paragraph 4 hereof.

 

    	C-1-1

    	 

    

 

7.          That
the Purchaser is not a Disqualified Non-U.S. Tax Person and is not purchasing the Class [R] [LR] Certificate for the account of,
or as an agent (including as a broker, nominee or other middleman) for, a Disqualified Non-U.S. Tax Person and is otherwise a Permitted
Transferee.

 

8.          That
the Purchaser agrees to such amendments of the Pooling and Servicing Agreement as may be required to further effectuate the restrictions
on transfer of the Class [R] [LR] Certificate to a “disqualified organization,” an agent thereof, or a person that
does not satisfy the requirements of paragraph 4, paragraph 7 and paragraph 11 hereof.

 

9.          That,
if a “tax matters person” is required to be designated with respect to the [Upper-Tier REMIC] [Lower-Tier REMIC], the
Purchaser agrees to act as “tax matters person” and to perform the functions of “tax matters partner” of
the [Upper-Tier REMIC][Lower-Tier REMIC] pursuant to Section 4.04 of the Pooling and Servicing Agreement, and agrees to the irrevocable
designation of the Certificate Administrator as the Purchaser’s agent in performing the function of “tax matters person”
and “tax matters partner.”

 

10.         The
Purchaser agrees to be bound by and to abide by the provisions of Section 5.02 of the Pooling and Servicing Agreement concerning
registration of the transfer and exchange of the Class [R] [LR] Certificate.

 

11.         The
Purchaser will not cause income from the Class [R] [LR] Certificate to be attributable to a foreign permanent establishment or
fixed base, within the meaning of an applicable income tax treaty, of the Purchaser or any other U.S. Tax Person.

 

12.         Check
the applicable paragraph:

 

☐           The present
value of the anticipated tax liabilities associated with holding the Class [R] [LR] Certificate, as applicable, does not exceed
the sum of:

 

  (i)          the
present value of any consideration given to the Purchaser to acquire such Class [R] [LR] Certificate;

 

  (ii)        the
present value of the expected future distributions on such Certificate; and

 

  (iii)       the
present value of the anticipated tax savings associated with holding such Class [R] [LR] Certificate as the related REMIC generates
losses.

 

For purposes of this calculation,
(i) the Purchaser is assumed to pay tax at the highest rate currently specified in Code Section 11(b) (but the tax rate in Code
Section 55(b)(1)(B) may be used in lieu of the highest rate specified in Code Section 11(b) if the Purchaser has been subject to
the alternative minimum tax under Code Section 55 in the preceding two years and will compute its taxable income in the current
taxable year using the alternative minimum tax rate) and (ii) present values are computed using a discount rate equal to the short
term Federal rate prescribed by Code Section 1274(d) for the month of the transfer and the compounding period used by the Purchaser.

 

    	C-1-2

    	 

    

 

☐              The transfer
of the Class [R] [LR] Certificate complies with U.S. Treasury Regulations Section 1.860E 1(c)(5) and (6) and, accordingly,

 

  (i)         the
Purchaser is an “eligible corporation,” as defined in U.S. Treasury Regulations Section 1.860E 1(c)(6)(i), as to which
income from the Class [R] [LR] Certificate will only be taxed in the United States;

 

  (ii)        at
the time of the transfer, and at the close of the Purchaser’s two fiscal years preceding the year of the transfer, the Purchaser
had gross assets for financial reporting purposes (excluding any obligation of a person related to the Purchaser within the meaning
of U.S. Treasury Regulations Section 1.860E 1(c)(6)(ii)) in excess of $100 million and net assets in excess of $10 million;

 

  (iii)       the
Purchaser will transfer the Class [R] [LR] Certificate only to another “eligible corporation,” as defined in U.S. Treasury
Regulations Section 1.860E 1(c)(6)(i), in a transaction that satisfies the requirements of Section 1.860E 1(c)(4)(i), (ii) and
(iii) and Section 1.860E 1(c)(5) of the U.S. Treasury Regulations; and

 

  (iv)       the
Purchaser determined the consideration paid to it to acquire the Class [R] [LR] Certificate based on reasonable market assumptions
(including, but not limited to, borrowing and investment rates, prepayment and loss assumptions, expense and reinvestment assumptions,
tax rates and other factors specific to the Purchaser) that it has determined in good faith.

 

☐           None of the above.

 

Capitalized terms used
but not defined herein have the respective meanings ascribed to such terms in the Pooling and Servicing Agreement.

 

IN WITNESS WHEREOF, the
Purchaser has caused this instrument to be executed on its behalf by its                                            
this          day of                        ,
20     .

	 	 	 
	 	[The Purchaser]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    	C-1-3

    	 

    

 

Personally appeared before
me the above named                                 ,
known or proved to me to be the same person who executed the foregoing instrument and to be the of the Purchaser, and acknowledged
to me that he/she executed the same as his/her free act and deed and the free act and deed of the Purchaser.

 

Subscribed and sworn
before me this          day of                        ,
20     .

 

 

 

NOTARY PUBLIC

 

COUNTY OF ______________

 

STATE OF ________________

 

My commission expires the         
day of                        ,
20     .

 

    	C-1-4

    	 

    

 

EXHIBIT C-2

 

FORM OF TRANSFEROR LETTER

 

[Date]

 

Wells Fargo Bank, National Association

Sixth Street & Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: COMM 2015-CCRE26 Mortgage
Trust

 

		Re:	Pooling and Servicing Agreement (“Pooling and
Servicing Agreement”) relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class
[R] [LR]

 

Ladies and Gentlemen:

 

[Transferor] has reviewed
the attached affidavit of [Transferee], and has no actual knowledge that such affidavit is not true or that [Transferee] is not
a Permitted Transferee (as defined in the Pooling and Servicing Agreement defined in the attached affidavit) and has no actual
knowledge or reason to know that the information contained in paragraphs 4, 7 and 11 thereof is not true. No purpose of [Transferor]
relating to the transfer of the Class [R] [LR] Certificate by [Transferor] to [Transferee] is or will be to impede the assessment
of any tax.

	 	 	 
	 	Very truly yours,
	 	 	 
	 	[Transferor]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    	C-2-1

    	 

    

 

EXHIBIT D-1

 

FORM OF INVESTMENT REPRESENTATION LETTER

 

Wells Fargo Bank, National Association

Sixth Street & Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: COMM 2015-CCRE26 Mortgage
Trust

 

Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

		Re:	COMM 2015-CCRE26 Mortgage Trust 

Commercial Mortgage Pass-Through Certificates, Class [    ]

 

Ladies and Gentlemen:

This letter is delivered
pursuant to Section 5.02 of the Pooling and Servicing Agreement dated as of October 1, 2015 (the “Pooling and Servicing
Agreement”), entered into and executed in connection with the above-referenced transaction, on behalf of the holders
of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates (the “Certificates”) with respect
to the transfer by [__________] (the “Seller”) to the undersigned (the “Purchaser”) of [$_____
aggregate Certificate Balance][_____% Percentage Interest] of Class [_____] Certificates, in certificated fully registered form
(such registered interest, the “Certificate”). Terms used but not defined herein shall have the meanings ascribed
thereto in the Pooling and Servicing Agreement.

 

In connection with
such transfer, the undersigned hereby represents and warrants to you as follows:

 

[For
Institutional Accredited Investors only] 1. The Purchaser is an institutional investor that is an “accredited investor”
within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D promulgated under the Securities Act of 1933, as amended
(the “Securities Act”) or an entity in which all of the equity owners are institutional investors that are “accredited
investors” within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D promulgated under the Securities Act, and
has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the
investment in the Certificate, and the Purchaser and any accounts for which the Purchaser is acting are each able to bear the economic
risk of the investment. The Purchaser is acquiring the Certificate for its own account or for one or more accounts (each of which
is an Institutional Accredited Investor) as to each of which the Purchaser exercises sole investment discretion. The Purchaser
hereby undertakes to reimburse the Trust for any costs incurred by it in connection with this transfer.

 

[For
Qualified Institutional Buyers only] 1. The Purchaser is a “qualified institutional buyer” within the meaning of Rule
144A (“Rule 144A”) promulgated under the Securities Act of

 

    	D-1-1

    	 

    

 

1933, as amended (the “Securities Act”).
The Purchaser is aware that the transfer is being made in reliance on Rule 144A, and the Purchaser has had the opportunity to obtain
the information required to be provided pursuant to paragraph (d)(4)(i) of Rule 144A.

 

		2.	The Purchaser’s intention is to acquire the Certificate
(a) for investment for the Purchaser’s own account or (b) for reoffer, resale, pledge or other transfer to (i) “qualified
institutional buyers” within the meaning of, and in transactions complying with, Rule 144A promulgated under the Securities
Act, or (ii) institutional investors that are “accredited investors” within the meaning of Rule 501(a)(1), (2), (3)
or (7) of Regulation D promulgated under the Securities Act or any entity in which all of the equity owners are institutional
investors that are “accredited investors” within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D promulgated
under the Securities Act, pursuant to any other exemption from the registration requirements of the Securities Act, subject in
the case of this clause (ii) to (a) the receipt by the Certificate Registrar of a letter substantially in the form hereof, (b)
the receipt by the Certificate Registrar of an opinion of counsel acceptable to the Certificate Registrar that such reoffer, resale,
pledge or transfer is in compliance with the Securities Act, (c) the receipt by the Certificate Registrar of such other evidence
acceptable to the Certificate Registrar that such reoffer, resale, pledge or transfer is in compliance with the Securities Act
and other applicable laws (including applicable state and foreign securities laws), and (d) a written undertaking to reimburse
the Trust for any costs incurred by it in connection with the proposed transfer. It understands that the Certificate (and any
subsequent Individual Certificate) has not been registered under the Securities Act, by reason of a specified exemption from the
registration provisions of the Securities Act which depends upon, among other things, the bona fide nature of the Purchaser’s
investment intent (or intent to resell to only certain investors in certain exempted transactions) as expressed herein.

 

		3.	The Purchaser acknowledges that the Certificate (and any
Certificate issued on transfer or exchange thereof) has not been registered or qualified under the Securities Act or the securities
laws of any State or any other jurisdiction, and that the Certificate cannot be reoffered, resold, pledged or otherwise transferred
unless it is registered or qualified thereunder or unless an exemption from such registration or qualification is available.

 

		4.	The Purchaser has reviewed the applicable Private Placement
Memorandum dated September 28, 2015, relating to the Certificates (the “Private Placement Memorandum”) and
the agreements and other materials referred to therein and has had the opportunity to ask questions and receive answers concerning
the terms and conditions of the transactions contemplated by the Private Placement Memorandum.

 

		5.	The Purchaser hereby undertakes to be bound by the terms
and conditions of the Pooling and Servicing Agreement in its capacity as an owner of an Individual Certificate or Certificates,
as the case may be (each, a “Certificateholder”), in all respects as if it were a signatory thereto. This undertaking
is made for the benefit of the Trust, the Trustee, the Certificate Administrator, the Certificate Registrar and all Certificateholders
present and future.

 

		6.	The Purchaser will not sell or otherwise transfer any
portion of the Certificate, except in compliance with Section 5.02 of the Pooling and Servicing Agreement.

 

    	D-1-2

    	 

    

 

		7.	Check one of the following:

 

☐
  The Purchaser is a “U.S. Tax Person” (as defined
below) and it has attached hereto an Internal Revenue Service (“IRS”) Form W-9 (or successor form).

 

☐   The
Purchaser is not a “U.S. Tax Person” (as defined below) and under applicable law in effect on the date hereof, no
taxes will be required to be withheld by the Certificate Registrar (or its agent) with respect to distributions to be made on
the Certificate(s). The Purchaser has attached hereto [(i) a duly executed IRS Form W-8BEN (or successor form) if the Purchaser
is an individual, or IRS Form W-8BEN-E (or successor form) if the Purchaser is an entity, which identifies such Purchaser as the
beneficial owner of the Certificate(s) and states that such Purchaser is not a U.S. Tax Person, (ii) two duly executed copies
of IRS Form W-8IMY (and all appropriate attachment or (iii)]* two duly executed copies of IRS Form W-8ECI (or successor form),
which identify such Purchaser as the beneficial owner of the Certificate(s) and state that interest and original issue discount
on the Certificate(s) is, or is expected to be, effectively connected with a U.S. trade or business. The Purchaser agrees to provide
to the Certificate Registrar updated IRS Forms W-8BEN, IRS Forms W-8BEN-E, IRS Forms W-8IMY or IRS Forms W-8ECI, as the case may
be, any applicable successor IRS forms, or such other certifications as the Certificate Registrar may reasonably request, on or
before the date that any such IRS form or certification expires or becomes obsolete, or promptly after the occurrence of any event
requiring a change in the most recent IRS form of certification furnished by it to the Certificate Registrar.

 

For purposes of this
paragraph 7, “U.S. Tax Person” means a citizen or resident of the United States, a corporation, partnership
(except to the extent provided in applicable Treasury Regulations), or other entity 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, 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. Tax Persons have the authority to control all substantial decisions of such trust (or, to the extent provided
in applicable Treasury Regulations, certain trusts in existence on August 20, 1996 that have elected to be treated as U.S. Tax
Persons).

 

Please make all payments
due on the Certificates:**

 

(a)   by
wire transfer to the following account at a bank or entity in New York, New York, having appropriate facilities therefor:

 

Account number:          ___________________________

 

Institution:                     ___________________________

 

(b)   by
mailing a check or draft to the following address:

 

______________________________________________

 

    	D-1-3

    	 

    

 

______________________________________________

 

______________________________________________ 

	 	 	 
	 	Very truly yours,
	 	 	 
	 	[The Purchaser]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

Dated:      ________________,
20___

 

 

* Delete for
Class R and Class LR.

** Only to be filled out by Purchasers of Individual Certificates. Please select (a) or (b).

 

    	D-1-4

    	 

    

 

EXHIBIT D-2

 

FORM OF ERISA REPRESENTATION LETTER

 

[Date]

 

Wells Fargo Bank, National Association

Sixth Street & Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: COMM 2015-CCRE26 Mortgage Trust

Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

		Re:	COMM 2015-CCRE26 Mortgage Trust

Commercial Mortgage Pass-Through Certificates, Class [   ]

 

Ladies and Gentlemen:

 

_______________ (the
“Purchaser”) intends to purchase from (the “Seller”) [$_____ initial Certificate Balance][$_____
initial Notional Balance][ or _____% Percentage Interest] of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates,
Class [_____], CUSIP No. _____ (the “Certificates”), issued pursuant to the Pooling and Servicing Agreement
dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), entered into and executed in connection
with the above-referenced transaction. All capitalized terms used herein and not otherwise defined shall have the meaning set forth
in the Pooling and Servicing Agreement. The Purchaser hereby certifies, represents and warrants to, and covenants with, the Depositor,
the Certificate Administrator, the Certificate Registrar and the Trustee that:

 

The Purchaser is not
(a) an employee benefit plan or other retirement arrangement, including an individual retirement account or a Keogh plan, which
is subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), Code Section 4975,
a governmental plan, as defined in Section 3(32) of ERISA, or other plan subject to any federal, state or local law (“Similar
Law”) which is to a material extent similar to the foregoing provisions of ERISA or the Code (each, a “Plan”),
or (b) a collective investment fund whose underlying assets include Plan assets by reason of a Plan’s investment in the collective
investment fund (pursuant to U.S. Department of Labor Regulation Section 2510.3-101, as modified by Section 3(42) of ERISA, or
Similar Law), an insurance company using assets of separate accounts or general accounts which are deemed pursuant to ERISA or
any Similar Law to include assets of Plans, or other person acting on behalf of any such Plan or using the assets of any such Plan,
other than (except in the case of the Private Non-Regular Certificates) an insurance company using the assets of its general account
under circumstances whereby such purchase and the subsequent holding of such Certificate by such insurance company would be exempt
from the prohibited transaction provisions of Section 406 and 407 of ERISA and Code Section 4975 under Sections I and III of PTCE
95-60, or a substantially similar exemption under Similar Law; and

 

    	D-2-1

    	 

    

 

The Purchaser understands
that if the Purchaser is a person referred to in clause (a) or (b) above, except in the case of the Private Non-Regular Certificates,
which may not be transferred unless the transferee represents it is not such a person, such Purchaser is required to provide to
the Certificate Registrar any Opinions of Counsel, officers’ certificates or agreements as may be required by such persons,
and which establishes to the satisfaction of the Depositor, the Certificate Administrator and the Certificate Registrar that the
purchase and holding of the Certificates by or on behalf of a Plan will not constitute or result in a non-exempt prohibited transaction
within the meaning of Section 406 and Section 407 of ERISA or Code Section 4975 or any corresponding provision of any Similar Law,
and will not subject the Depositor, the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the
Operating Advisor or the Certificate Registrar to any obligation or liability (including obligations or liabilities under ERISA,
Code Section 4975 or Similar Law), which Opinions of Counsel, officers’ certificates or agreements shall not be at the expense
of the Master Servicer, the Special Servicer, the Operating Advisor, the Depositor, the Certificate Administrator, the Trustee
or the Certificate Registrar.

 

IN WITNESS WHEREOF,
the Purchaser hereby executes this ERISA Representation Letter on this  ___ day of ___ , 20 _.

	 	 	 
	 	Very truly yours,
	 	 	 
	 	[Purchaser]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    	D-2-2

    	 

    

 

EXHIBIT E

 

FORM OF REQUEST FOR RELEASE

 

[Date]

 

Wells Fargo Bank, National Association

1055 10th Avenue SE

Minneapolis, Minnesota
55414

Attention: COMM 2015-CCRE26 Mortgage Trust

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”) relating
                                                                                 to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

Dear __________________:

 

In connection with the
administration of the Mortgage Files held by, or on behalf of, you as Custodian under the Pooling and Servicing Agreement, the
undersigned hereby requests a release of the Mortgage File (or the portion thereof specified below) held by you as Custodian with
respect to the following described Mortgage Loan for the reason indicated below:

 

Mortgagor’s Name:________________________________

 

Address: ________________________________________

 

Asset No.: _______________________________________ 

 

If only particular documents
in the Mortgage File are requested, please specify which:

 

Reason for requesting
file (or portion thereof):

 

 _____     1.          Mortgage
Loan paid in full. Such [Master Servicer] [Special Servicer][Other Servicer][Other Special Servicer] hereby certifies that all
amounts received in connection with the Mortgage Loan have been or will be, following such [Master Servicer’s] [Special Servicer’s]
[Other Servicer’s][Other Special Servicer’s] release of the Mortgage File, credited to the Collection Account
pursuant to the Pooling and Servicing Agreement.

 

 _____     2.          The
Mortgage Loan is being foreclosed.

 

 _____     3.          Other.
(Describe)

 

The undersigned acknowledges
that the above Mortgage File (or requested portion thereof) will be held by the undersigned in accordance with the provisions of
the [Pooling and Servicing Agreement][Other Pooling and Servicing Agreement] and will be

 

    	E-1

    	 

    

 

returned to you or your designee within
ten (10) days of our receipt thereof, unless [the [Other Servicer][Other Special Servicer] requires such Mortgage File pursuant
to the applicable Intercreditor Agreement or Other Pooling and Servicing Agreement.][the Mortgage Loan has been paid in full or
otherwise liquidated, in which case the Mortgage File (or such portion thereof) will be retained by us permanently, or unless the
Mortgage Loan is being foreclosed,] in which case the Mortgage File (or such portion thereof) will be returned when no longer required
by us for such purpose.

 

Capitalized terms used
but not defined herein shall have the meaning ascribed to them in the Pooling and Servicing Agreement.

	 	 	 
	 	 [MASTER SERVICER][SPECIAL
	 	 	SERVICER][OTHER SERVICER][OTHER SPECIAL SERVICER]
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

    	E-2

    	 

    

 

EXHIBIT F

 

SECURITIES LEGEND

 

THIS CERTIFICATE HAS NOT BEEN AND WILL
NOT BE REGISTERED OR QUALIFIED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
OR FOREIGN SECURITIES LAW. THE HOLDER HEREOF, BY PURCHASING THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE REOFFERED, RESOLD,
PLEDGED OR OTHERWISE TRANSFERRED ONLY IN COMPLIANCE WITH THE SECURITIES ACT AND OTHER APPLICABLE LAWS, AND ONLY (A)(1) PURSUANT
TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (2) FOR SO LONG AS THIS CERTIFICATE IS
ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO AN INSTITUTIONAL INVESTOR THAT
THE HOLDER REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A (“QUALIFIED
INSTITUTIONAL BUYER”) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF ANOTHER QUALIFIED INSTITUTIONAL BUYER, WHOM THE
HOLDER HAS INFORMED, IN EACH CASE, THAT THE REOFFER, RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (3)
(EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO AN INSTITUTIONAL “ACCREDITED INVESTOR,” WITHIN THE
MEANING OF RULE 501 (a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT OR AN ENTITY IN WHICH ALL OF THE EQUITY OWNERS
ARE INSTITUTIONAL “ACCREDITED INVESTORS,” WITHIN THE MEANING OF RULE 501 (a)(1), (2), (3) OR (7) OF REGULATION D UNDER
THE SECURITIES ACT, OR (4) (EXCEPT WITH RESPECT TO THE CLASS R AND CLASS LR CERTIFICATES) TO AN INSTITUTION THAT IS A NON-“U.S.
PERSON” IN AN “OFFSHORE TRANSACTION” AS SUCH TERMS ARE DEFINED IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION
S UNDER THE SECURITIES ACT, AND (B) IN ACCORDANCE WITH ANY OTHER APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR
ANY OTHER APPLICABLE JURISDICTION.

 

THE INITIAL INVESTOR IN THIS CERTIFICATE,
AND EACH SUBSEQUENT PURCHASER OF THIS CERTIFICATE, BY PURCHASING THIS CERTIFICATE OR AN INTEREST HEREIN, IS DEEMED TO HAVE AGREED
TO COMPLY WITH CERTAIN TRANSFER REQUIREMENTS SET FORTH IN THE POOLING AND SERVICING AGREEMENT. A TRANSFEREE IS ALSO REQUIRED TO
DELIVER AN INVESTMENT REPRESENTATION LETTER SUBSTANTIALLY IN THE FORM OF EXHIBIT D-1 TO THE POOLING AND SERVICING AGREEMENT IF
SUCH TRANSFEREE IS A QUALIFIED INSTITUTIONAL BUYER OR (OTHER THAN WITH RESPECT TO A RESIDUAL CERTIFICATE) AN INSTITUTIONAL ACCREDITED
INVESTOR, AND MAY ALSO BE REQUIRED TO DELIVER AN OPINION OF COUNSEL IF SUCH TRANSFEREE IS NOT A QUALIFIED INSTITUTIONAL BUYER WITHIN
THE MEANING OF RULE 144A.

 

    	F-1

    	 

    

 

EXHIBIT G

 

FORM OF REGULATION S TRANSFER CERTIFICATE

 

 

 

Wells Fargo Bank, National Association

Sixth Street & Marquette Avenue

Minneapolis, Minnesota
55479-0113

Attention: COMM
2015-CCRE26 Mortgage Trust

 

Re:       Transfer
of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class [    ]

 

Ladies and Gentlemen:

 

This certificate is delivered
pursuant to Section 5.02 of the Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and Servicing
Agreement”), entered into and executed in connection with the above referenced transaction, on behalf of the holders
of the COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass Through Certificates, Class [_] (the “Certificates”)
in connection with the transfer by the undersigned (the “Transferor”) to                                      
(the “Transferee”) of $                    
Certificate Balance of Certificates, in fully registered form (each, an “Individual Certificate”), or a beneficial
interest of such aggregate Certificate Balance in the Regulation S Global Certificate (the “Global Certificate”)
maintained by The Depository Trust Company or its successor as Depositary under the Pooling and Servicing Agreement (such transferred
interest, in either form, being the “Transferred Interest”).

 

In connection with such
transfer, the Transferor does hereby certify that such transfer has been effected in accordance with the transfer restrictions
set forth in the Pooling and Servicing Agreement and the Certificates and (i) with respect to transfers made in accordance with
Regulation S (“Regulation S”) promulgated under the Securities Act of 1933, as amended (the “Securities
Act”), the Transferor does hereby certify that:

 

(1)          the
offer of the Transferred Interest was not made to a person in the United States;

 

[(2)        at
the time the buy order was originated, the Transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed that the Transferee was outside the United States;]*

 

[(2)        the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither there undersigned
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States;]*

 

(3)          no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable;
and

 

 

 

* Insert one of these two provisions,
which come from the definition of “offshore transaction” in Regulation S.

 

    	G-1

    	 

    

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

or (ii) with respect to transfers made
in reliance on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates that are being transferred
are not “restricted securities” as defined in Rule 144 under the Securities Act.

 

This certificate and
the statements contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the
Trustee, the Operating Advisor, the Master Servicer and the Special Servicer.

	 	 	 
	 	[Insert Name of
    Transferor]
	 	 	 
	 	By:`	 
	 	 	Name:
	 	 	Title:

 

Dated: ________________, 20     

 

    	G-2

    	 

    

 

EXHIBIT H

 

FORM OF TRANSFER CERTIFICATE

FOR EXCHANGE OR TRANSFER FROM RULE 144A

GLOBAL CERTIFICATE TO REGULATION S GLOBAL

CERTIFICATE DURING THE RESTRICTED PERIOD

 

(Exchanges or transfers pursuant to Section
5.02(c)(ii)(A) of 

the Pooling and Servicing Agreement)

 

 

 

Wells Fargo Bank, National Association

Sixth Street & Marquette Avenue

Minneapolis, Minnesota 55479-0113

Attention: COMM 2015-CCRE26 Mortgage Trust

 

		Re:	Transfer of
                                         COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class
                                         [    ]

 

Reference is hereby made
to the Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”),
entered into and executed in connection with the above-referenced transaction. Capitalized terms used but not defined herein shall
have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
US $                    
aggregate Certificate Balance of Certificates (the “Certificates”) which are held in the form of Rule 144A Global
Certificate (CUSIP No.                     )
with the Depository in the name of [insert name of transferor] (the “Transferor”). The Transferor has requested
a transfer of such beneficial interest for an interest in the Regulation S Global Certificate (CUSIP No.                     )
to be held with [Euroclear] [Clearstream]* (Common Code) through the Depositary.

 

In connection with such
request and in respect of such Certificates, the Transferor does hereby certify that such transfer has been effected in accordance
with the Transfer restrictions set forth in the Pooling and Servicing Agreement and pursuant to and in accordance with Regulation
S under the Securities Act of 1933, as amended (the “Securities Act”), and accordingly the Transferor does hereby
certify that:

 

(1)         the
offer of the Certificates was not made to a person in the United States,

 

[(2)        at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any persons acting on
its behalf reasonably believed that the Transferee was outside the United States,]**

 

 

 

* Select appropriate depository.

** Insert one of these two provisions,
which come from the definition of “offshore transaction” in Regulation S.

 

    	H-1

    	 

    

 

[(2)        the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,]*

 

(3)          no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable,
and

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

 

This certificate and
the statements contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the
Trustee, the Operating Advisor, the Master Servicer and the Special Servicer.

	 	 	 
	 	[Insert Name of
    Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: ________________, 20__

  

    	H-2

    	 

    

 

EXHIBIT I

 

FORM OF TRANSFER CERTIFICATE

FOR EXCHANGE OR TRANSFER FROM RULE 144A

GLOBAL CERTIFICATE TO REGULATION S GLOBAL

CERTIFICATE AFTER THE RESTRICTED PERIOD

 

(Exchange or transfers pursuant to

Section 5.02(c)(ii)(B) of the Pooling and Servicing Agreement)

 

Wells Fargo Bank, National Association

Sixth Street & Marquette
Avenue

Minneapolis, Minnesota
55479-0113

Attention: COMM 2015-CCRE26
Mortgage Trust

  

		Re:	Transfer of COMM 2015-CCRE26 Mortgage Trust Commercial
Mortgage Pass-Through Certificates, Class [    ]

 

Reference is hereby made
to the Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”),
entered into and executed in connection with the above referenced transaction. Capitalized terms used but not defined herein shall
have the meanings given to them in the Pooling and Servicing Agreement.

 

The letter relates to
U.S. $                    
aggregate Certificate Balance of Certificates (the “Certificates”) which are held in the form of the Rule 144A
Global Certificate (CUSIP No.                     )
with the Depository in the name of [insert name of transferor] (the “Transferor”). The Transferor has requested
a transfer of such beneficial interest in the Certificates for an interest in the Regulation S Global Certificate (Common Code
No.                     ).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such transfer has been effected in accordance
with the transfer restrictions set forth in the Pooling and Servicing Agreement and, (i) with respect to transfers made in reliance
on Regulation S under the Securities Act of 1933, as amended (the “Securities Act”), the Transferor does hereby
certify that:

 

(1)          the
offer of the Certificates was not made to a person in the United States,

 

[(2)        at
the time the buy order was originated, the transferee was outside the United States or the Transferor and any person acting on
its behalf reasonably believed that the transferee was outside the United States,]*

 

 

 

* Insert one of these two provisions,
which come from the definition of “offshore transaction” in Regulation S.

 

    	I-1

    	 

    

 

[(2)        the
transaction was executed in, on or through the facilities of a designated offshore securities market and neither the Transferor
nor any person acting on its behalf knows that the transaction was pre-arranged with a buyer in the United States,]*

 

(3)          no
directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable,
and

 

(4)          the
transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act;

 

or (ii) with respect to transfers made
in reliance on Rule 144 under the Securities Act, the Transferor does hereby certify that the Certificates that are being transferred
are not “restricted securities” as defined in Rule 144 under the Securities Act.

 

This certificate and
the statements contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the
Trustee, the Operating Advisor, the Master Servicer and the Special Servicer.

	 	 	 
	 	[Insert Name of
    Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: _______________, 20___

 

    	I-2

    	 

    

 

EXHIBIT J

 

FORM OF TRANSFER CERTIFICATE

FOR EXCHANGE OR TRANSFER FROM REGULATION S GLOBAL

CERTIFICATE TO RULE 144A GLOBAL CERTIFICATE DURING THE 

RESTRICTED PERIOD

 

(Exchange or transfers pursuant to Section
5.02(c)(ii)(C)

of the Pooling and Servicing Agreement)

 

 

 

Wells Fargo Bank, National Association

Sixth Street & Marquette
Avenue

Minneapolis, Minnesota
55479-0113

Attention: COMM 2015-CCRE26
Mortgage Trust

 

		Re:	Transfer of
                                         COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Class
                                         [    ]

 

Reference is hereby made
to the Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”),
entered into and executed in connection with the above referenced transaction. Capitalized terms used but not defined herein shall
have the meanings given to them in the Pooling and Servicing Agreement.

 

This letter relates to
U.S. $                    
aggregate Certificate Balance of Certificates (the “Certificates”) which are held in the form of the Regulation
S Global Certificate (CUSIP No.                     )
with [Euroclear] [Clearstream]* (Common Code                     )
through the Depository in the name of [insert name of transferor] (the “Transferor”). The Transferor has requested
a transfer of such beneficial interest in the Certificates for an interest in the Regulation 144A Global Certificate (CUSIP No.
                    ).

 

In connection with such
request, and in respect of such Certificates, the Transferor does hereby certify that such Certificates are being transferred in
accordance with (i) the transfer restrictions set forth in the Pooling and Servicing Agreement and (ii) Rule 144A under the Securities
Act to a transferee that the Transferor reasonably believes is purchasing the Certificates for its own account with respect to
which the transferee exercises sole investment discretion and the transferee and any such account is “qualified institutional
buyer” within the meaning of Rule 144A, in each case in a transaction meeting the requirements of Rule 144A and in accordance
with any applicable securities laws of any state of the United States or an jurisdiction.

 

This certificate and
the statements contained herein are made for your benefit and the benefit of the Depositor, the Certificate Administrator, the
Trustee, the Operating Advisor, the Master Servicer and the Special Servicer.

 

 

 

* Select appropriate depositary.

 

    	J-1

    	 

    

	 	 	 
	 	[Insert Name of
    Transferor]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Dated: ______________, 20__

 

    	J-2

    	 

    

 

EXHIBIT K

 

FORM OF DISTRIBUTION DATE STATEMENT

 

    	K-1

    	 

    

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 
	 	 	 	 	DISTRIBUTION DATE STATEMENT	 	 	 
	 	 	 	 	Table of Contents	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	STATEMENT SECTIONS	PAGE(s)	 	 	 
	 	 	 	 	Certificate Distribution Detail	2	 	 	 
	 	 	 	 	Certificate Factor Detail	3	 	 	 
	 	 	 	 	Exchangeable Class Detail	4	 	 	 
	 	 	 	 	Reconciliation Detail	5	 	 	 
	 	 	 	 	Other Required Information	6	 	 	 
	 	 	 	 	Cash Reconciliation Detail	7	 	 	 
	 	 	 	 	Current Mortgage Loan and Property Stratification Tables	8-10	 	 	 
	 	 	 	 	Mortgage Loan Detail	11	 	 	 
	 	 	 	 	NOI Detail	12	 	 	 
	 	 	 	 	Principal Prepayment Detail	13	 	 	 
	 	 	 	 	Historical Detail	14	 	 	 
	 	 	 	 	Delinquency Loan Detail	15	 	 	 
	 	 	 	 	Specially Serviced Loan Detail	16-17	 	 	 
	 	 	 	 	Advance Summary	18	 	 	 
	 	 	 	 	Modified Loan Detail	19	 	 	 
	 	 	 	 	Historical Liquidated Loan Detail	20	 	 	 
	 	 	 	 	Historical Bond / Collateral Loss Reconciliation	21	 	 	 
	 	 	 	 	Interest Shortfall Reconciliation Detail	22-23	 	 	 
	 	 	 	 	Defeased Loan Detail	24	 	 	 
	 	 	 	 	Supplemental Reporting	25	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Depositor	 	 	 	Master
    Servicer	 	 	 	Special
    Servicer	 	 	 	Operating Advisor	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Deutsche Mortgage & Asset Receiving 	 	 	 	Wells Fargo Bank, National Association	 	 	 	CWCapital Asset Management LLC

	 	 	 	Park Bridge Lender Services LLC	 	 	 
	 	 	 	Corporation	 	 	 	550 S. Tryon Street, 14th Floor	 	 	 	7501 Wisconsin Avenue	 	 	 	560 Lexington Avenue, 17th Floor	 	 	 
	 	 	 	 	 	 	 	Charlotte, NC 28202	 	 	 	Suite 500 W	 	 	 	New York, NY 10022	 	 	 
	 	 	 	60 Wall Street	 	 	 	 	 	 	 	Bethesda, MD 20814	 	 	 	 	 	 	 
	 	 	 	New York, NY 10005	 	 	 	 	 	 	 	Contact:    Brian Hanson	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Contact:	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	Contact:            Helaine M. Kaplan	 	 	 	REAM_InvestorRelations@wellsfargo.com	 	 	 	 	 	 	 	Contact:              David Rodgers	 	 	 
	 	 	 	Phone Number: (212) 250-5270	 	 	 	Phone Number: (866) 898-1615	 	 	 	Phone Number: (202) 715-9500	 	 	 	Phone Number:   (212) 310-9821	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	This
                     report is compiled by Wells Fargo Bank, N.A. from information provided by third parties. Wells Fargo Bank,
                     N.A. has not independently confirmed the accuracy of the information.

         

        Please visit www.ctslink.com for additional information and special notices.  In addition, certificateholders may register online for email notification when special notices are posted.  For information or assistance please call 866-846-4526.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

  

    	Page 1 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Certificate Distribution
    Detail	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Class	 	CUSIP	Pass-Through
 Rate	Original
 Balance	Beginning
 Balance	Principal
 Distribution	Interest
 Distribution	Prepayment
 Premium	Realized Loss/
 Additional Trust
 Fund Expenses	Total
 Distribution	Ending
 Balance	Current
 Subordination
 Level (1)	 
	 	 	A-1	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-2	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-SB	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-3	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-4	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	A-M	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	B	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	C	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	D	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	E	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	F	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	G	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	H	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	V	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	LR	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	R	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	Totals	 	 	 	 	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Class	 	CUSIP	Pass-Through
 Rate	Original
 Notional
 Amount	Beginning
 Notional
 Amount	Interest
 Distribution	Prepayment
 Premium	Total
 Distribution	Ending
 Notional
 Amount	 	 	 	 	 	 	 
	 	 	 X-A	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	 X-B	 	 	 	 0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	 X-C	 	 	 	 0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	 X-D	 	 	 	 0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	 X-E	 	 	 	 0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	X-F	 	 	 	0.000000%	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	 	 	 	 	 	 	 
	 	 	(1)
Calculated by taking (A) the sum of the ending certificate balance of all classes less (B) the sum of (i) the ending balance of
the designated class and (ii) the ending certificate balance of all classes which are not subordinate to the designated class
and dividing the result by (A). 

	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 2 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	Certificate Factor Detail
	 	 	 	 	 	 	 	 	 	 
	 	Class	CUSIP	Beginning

Balance
	Principal

Distribution
	Interest

Distribution
	Prepayment

Premium
	Realized
Loss/

Additional Trust

Fund Expenses
	Ending

Balance
	 
	 	 
	 	 
	 	A-1	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-2	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-SB	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-3	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-4	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	A-M	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	B	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	C	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	D	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	E	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	F	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	G	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	H	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	V	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	LR	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	R	 	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	0.00000000	 
	 	 	 	 	 	 	 	 	 	 
	 	Class	CUSIP	Beginning

        Notional

        Amount
	Interest

        Distribution
	Prepayment

        Premium
	Ending

        Notional

        Amount
	 	 	 
	 	 	 	 
	 	 	 	 
	 	 X-A	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	 X-B	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	 X-C	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	 X-D	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	 X-E	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	X-F	 	0.00000000	0.00000000	0.00000000	0.00000000	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    	Page 3 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Reconciliation Detail	 	 
	 	 	Principal Reconciliation	 	 
	 	 	 	 	Stated
    Beginning 

    Principal Balance	 	Unpaid
    Beginning

    Principal Balance	 	Scheduled
    

    Principal	 	Unscheduled

    Principal	 	Principal

    Adjustments	 	Realized
    Loss	 	Stated
    Ending

    Principal Balance	 	Unpaid
    Ending

    Principal Balance	 	Current
    Principal

    Distribution Amount	 	 
	 	 	Total	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
    Certificate Interest Reconciliation
    	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Class	 	Accrual

    Dates	 	Accrual

    Days	 	Accrued

    Certificate

    Interest	 	Net
    Aggregate

    Prepayment

    Interest Shortfall	 	Distributable

    Certificate

    Interest	 	Distributable

    Certificate Interest

    Adjustment	 	WAC
    CAP

    Shortfall	 	Additional

    Trust Fund

    Expenses	 	Interest

    Distribution	 	Remaining
    Unpaid

    Distributable

    Certificate Interest	 	 
	 	 	A-1	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-2	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-SB	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-3	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-4	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-A	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-B	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-C	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-D	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-E	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	X-F	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	A-M	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	B	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	C	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	D	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	E	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	F	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	G	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	H	 	0	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	Totals	 	 	 	0	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00	 	0.00  
    	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 4 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Other Required Information	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Available Distribution Amount (1)	 	  0.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 		 			 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 		 			 	Appraisal Reduction Amount	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Loan

    Number	 	 	Appraisal	 	 	Cumulative	 	 	Most
    Recent	 	 	 
	 	 	 	 	 	 	 	 	 	Reduction	 	 	ASER	 	 	App. Red.	 	 	 
	 	 	 	 	 	 	 	 	 	Effected	 	 	Amount	 	 	Date	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Controlling Class Information	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Controlling
    Class: 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Effective
    as of: mm/dd/yyyy	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Controlling
    Class Representative: 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Effective
    as of: mm/dd/yyyy	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	Total	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	
        (1) The Available Distribution
        Amount includes any Prepayment Premiums.
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 5 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Cash Reconciliation Detail	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Total Funds Collected	 	 	 	Total Funds Distributed	 	 	 
	 	Interest:	 	 	 	Fees:	 	 	 
	 	Interest paid or advanced	0.00	 	 	Master Servicing Fee - Wells Fargo Bank, N.A.	0.00	 	 
	 	Interest reductions due to Non-Recoverability
    Determinations	0.00	 	 	Trustee
Fee -  Wilmington Trust, N.A.	0.00	 	 
	 	Interest Adjustments	0.00	 	 	Certificate
Administration Fee - Wells Fargo Bank, N.A.	0.00	 	 
	 	Deferred Interest	0.00	 	 	CREFC Royalty License Fee	0.00	 	 
	 	Net Prepayment Interest Shortfall	0.00	 	 	Operating Advsior Fee - Park Bridge Lender Services LLC	0.00	 	 
	 	Net Prepayment Interest Excess	0.00	 	 	Total Fees	 	0.00	 
	 	Extension Interest	0.00	 	 	Additional Trust Fund Expenses:	 	 	 
	 	Interest Reserve Withdrawal	0.00	 	 	 	 	 	 
	 	Total Interest Collected	 	0.00	 	Reimbursement for Interest on Advances	0.00	 	 
	 	 	 	 	 	ASER Amount	0.00	 	 
	 	Principal:	 	 	 	Special Servicing Fee	0.00	 	 
	 	Scheduled Principal	0.00	 	 	Rating Agency Expenses	0.00	 	 
	 	Unscheduled Principal	0.00	 	 	Attorney Fees & Expenses	0.00	 	 
	 	Principal Prepayments	0.00	 	 	Bankruptcy Expense	0.00	 	 
	 	Collection of Principal after Maturity
    Date	0.00	 	 	Taxes Imposed on Trust Fund	0.00	 	 
	 	Recoveries from Liquidation and Insurance
    Proceeds	0.00	 	 	Non-Recoverable Advances	0.00	 	 
	 	Excess of Prior Principal Amounts paid	0.00	 	 	Other Expenses	0.00	 	 
	 	Curtailments	0.00	 	 	Total Additional Trust Fund Expenses	 	0.00	 
	 	Negative Amortization	0.00	 	 	 	 	 	 
	 	Principal Adjustments	0.00	 	 	Interest Reserve Deposit	 	0.00	 
	 	Total Principal Collected	 	0.00	 	 	 	 	 
	 	 	 	 	 	Payments to Certificateholders &
    Others:	 	 	 
	 	Other:	 	 	 	Interest Distribution	0.00	 	 
	 	Prepayment Penalties/Yield Maintenance	0.00	 	 	Principal Distribution	0.00	 	 
	 	Repayment Fees	0.00	 	 	Prepayment Penalties/Yield Maintenance	0.00	 	 
	 	Borrower Option Extension Fees	0.00	 	 	Borrower Option Extension Fees	0.00	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Total Other Collected	 	0.00	 	Total Payments to Certificateholders
    & Others	 	0.00	 
	 	Total Funds Collected	 	0.00	 	Total Funds Distributed	 	0.00	 
	 	 	 	 	 	 	 	 	 

 

    	Page 6 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current Mortgage Loan
    and Property Stratification Tables

    Aggregate Pool	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Scheduled Balance	 	State   (3)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Scheduled

    Balance	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 	State	#
    of

    Props.	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 7 of 24

    	 

    
 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current Mortgage Loan
    and Property Stratification Tables

    Aggregate Pool	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Debt Service Coverage Ratio	 	Property Type   (3)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Debt
    Service

    Coverage Ratio	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Property
    Type	#
    of

    Props.	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Note Rate	 	Seasoning	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Note

    Rate	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Seasoning	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	See footnotes on last page
    of this section.	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 8 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current Mortgage Loan
    and Property Stratification Tables

    Aggregate Pool	 
	 	 	 	 	 
	 	Anticipated Remaining Term (ARD and Balloon Loans)	 	Remaining Stated Term (Fully Amortizing Loans)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Anticipated
    Remaining

    Term (2)	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM
    

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Remaining
    Stated

    Term	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Remaining Amortization
    Term (ARD and Balloon Loans)	 	Age of Most Recent NOI	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Remaining
    Amortization

    Term	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM
    

    (2)	WAC	Weighted

    Avg DSCR (1)	 	Age
    of Most

    Recent NOI	#
    of

    loans	Scheduled

    Balance	%
    of

    Agg.

    Bal.	WAM

    (2)	WAC	Weighted

    Avg DSCR (1)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	(1) Debt Service Coverage Ratios are updated periodically as new NOI figures become available from borrowers on an asset level. In all cases, the most recent DSCR provided by the Servicer is used. To the extent that no DSCR is provided by the Servicer, information from the offering document is used. The debt service coverage ratio information was provided to the Certificate Administrator by the Master Servicer and the Certificate Administrator has not independently confirmed the accuracy of such information.	 	 
	 	 	 	 
	 	(2) Anticipated Remaining Term and WAM are each calculated
    based upon the term from the current month to the earlier of the Anticipated Repayment Date, if applicable, and the maturity
    date.	 	 
	 	 	 	 
	 	(3) Data in this table was calculated by allocating
    pro-rata the current loan information to the properties based upon the Cut-off Date balance of each property as disclosed
    in the  offering document.	 	 
	 	 	 	 	 

 

    	Page 9 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Mortgage
    Loan Detail	 
	 	 	 
	 	Loan

    Number	ODCR
    	Property

    Type (1)	City	State	Interest

    Payment	Principal

    Payment	Gross

    Coupon
    	Anticipated
    

    Repayment

    Date	Maturity

    Date	Neg.

    Amort

    (Y/N)	Beginning

    Scheduled

    Balance	Ending

    Scheduled

    Balance	Paid

    Thru

    Date	Appraisal

    Reduction

    Date	Appraisal

    Reduction

    Amount	Res.

    Strat.

    (2)	Mod.

    Code

    (3)	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	(1)
    Property Type Code	(2)
    Resolution Strategy Code	    (3)
    Modification Code
	 	 	 
	 	MF 	-	Multi-Family	OF	-	Office	1	-	Modification	6	-	DPO	10	-	Deed in Lieu Of	1	-	Maturity Date Extension			 	 
	 	RT 	-	Retail	MU	-	Mixed Use	2 	-	Foreclosure	7	-	REO	 	 	     Foreclosure	2	-	Amortization Change				 
	 	HC	-	Health Care	LO	-	Lodging	3	-	Bankruptcy	8	-	Resolved	11	-	Full Payoff	3	-	Principal Write-Off				 
	 	IN  	-	Industrial	SS	-	Self Storage	4	-	Extension	9	-	Pending Return	12	-	Reps and Warranties	4	-	Combination				 
	 	WH	-	Warehouse	OT	-	Other	5	-	Note Sale	 	 	     to Master Servicer	13	-	Other or TBD				 	 	 	 
	 	MH 	-	Mobile Home Park	 	 	 	 	 	 	 	 	 	 	 	 	 	 		 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 10 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 
	 	NOI Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	Loan

    Number	ODCR	Property

    Type	City	State	Ending

    Scheduled

    Balance	Most

    Recent

    Fiscal NOI	Most

    Recent

    NOI	Most
    Recent

    NOI Start

    Date	Most
    Recent

    NOI End

    Date	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	Total	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 11 of 24

    	 

    

 

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 
	 	Principal Prepayment Detail	 
	 	 	 	 	 	 	 	 	 
	 	Loan Number	Loan Group	Offering
    Document	Principal
    Prepayment Amount	Prepayment
    Penalties	 
	 	Cross-Reference	Payoff
    Amount	Curtailment
    Amount	Prepayment
    Premium	Yield
    Maintenance Premium	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    	Page 12 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Historical Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Delinquencies	Prepayments	Rate
    and Maturities	 
	 	Distribution	30-59
    Days	60-89
    Days	90
    Days or More	Foreclosure	REO	Modifications	Curtailments	Payoff	Next
    Weighted Avg.	 	 
	 	Date	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	#	Balance	Coupon	Remit	WAM	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Note: Foreclosure and REO Totals are excluded from the
    delinquencies.	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 13 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Delinquency Loan Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Loan
    Number	Offering

    Document

    Cross-Reference	#
    of

    Months

    Delinq.	Paid
    Through

    Date	Current

    P & I

    Advances	Outstanding

    P & I

    Advances **	Status
    of

    Mortgage

    Loan  (1)	Resolution

    Strategy

    Code  (2)	Servicing
Transfer Date	Foreclosure

    Date	Actual

    Principal

    Balance	Outstanding

    Servicing

    Advances	Bankruptcy

    Date	REO

    Date	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	(1)
    Status of Mortgage Loan	 	 	(2)
    Resolution Strategy Code	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	A	-	Payment Not Received	0	-	Current	4	-	Assumed Scheduled Payment	1	-	Modification	6	-	DPO	10	-	Deed In Lieu Of	 	 
	 	 	 	 	But Still in Grace Period	1	-	One Month Delinquent	 	 	(Performing Matured Balloon)	2 	-	Foreclosure	7	-	REO	 	 	Foreclosure	 	 
	 	 	 	 	Or Not Yet Due	2	-	Two Months Delinquent	5	-	Non Performing Matured Balloon	3 	-	Bankruptcy	8	-	Resolved	11	-	Full Payoff	 	 
	 	 	B	-	Late Payment But Less	3	-	Three or More Months Delinquent	 	 	 	4 	-	Extension	9	-	Pending Return	12	-	Reps and Warranties	 	 
	 	 	 	 	Than 1 Month Delinquent	 	 	 	 	 	 	5 	-	Note Sale	 	 	to Master Servicer	13	-	Other or TBD	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	** Outstanding
    P & I Advances include the current period advance.	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 14 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Specially Serviced Loan
    Detail - Part 1	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Distribution

    Date	Loan

    Number	Offering

    Document

    Cross-Reference	Servicing

    Transfer

    Date	Resolution

    Strategy

    Code (1)	Scheduled

    Balance	Property

    Type (2)	State	Interest

    Rate	Actual

    Balance	Net

    Operating

    Income	NOI

    Date	DSCR	Note

    Date	Maturity

    Date	Remaining

    Amortization

    Term	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	(1) Resolution Strategy Code	(2) Property Type Code	 
	 	 	 	 	 
	 	1	-  Modification	6	-	DPO	10	-	Deed In Lieu Of	MF	-	Multi-Family		OF	-	Office	 
	 	2	-  Foreclosure	7	-	REO	 	 	Foreclosure	RT	-	Retail	 	MU	-	Mixed use	 
	 	3	-  Bankruptcy	8	-	Resolved	11	-	Full Payoff	HC	-	Health Care	 	LO	-	Lodging	 
	 	4	-  Extension	9	-	Pending Return	12	-	Reps and Warranties	IN	-	Industrial	 	SS	-	Self Storage	 
	 	5	-  Note Sale	 	 	to Master Servicer	13	-	Other or TBD	WH	-	Warehouse		OT	-	Other	 
	 	 	 	 	 	 	 	 	 	WH	-	Mobile Home Park	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 15 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 
	 	Specially Serviced Loan
    Detail - Part 2	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	Distribution

    Date	Loan

    Number	Offering

    Document

    Cross-Reference	Resolution

    Strategy

    Code (1)	Site

    Inspection

    Date	

    Phase 1 Date
	Appraisal
Date	Appraisal

    Value	Other
    REO

    Property Revenue	Comment	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 
	(1)
    Resolution Strategy Code
	 	 	 	 	 	 	 	 	 	 	 
	 	1	-	Modification	6	-	DPO	10	-	Deed In Lieu Of	 
	 	2	-	Foreclosure	7	-	REO	 	 	Foreclosure	 
	 	3	-	Bankruptcy	8	-	Resolved	11	-	Full Payoff	 
	 	4	-	Extension	9	-	Pending Return	12	-	Reps and Warranties	 
	 	5	-	Note Sale	 	 	to Master Servicer	13	-	Other or TBD	 
	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 16 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 
	Advance
    Summary
	 	 	 	 	 	 	 
	 	 	Current
    P&I

    Advances	Outstanding
    P&I

    Advances	Outstanding
    Servicing

    Advances	Current
    Period Interest

    on P&I and Servicing

    Advances Paid	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	Totals	0.00	0.00	0.00	0.00	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

    	Page 17 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 
	 	Modified Loan Detail	 
	 	 	 	 	 	 	 	 	 	 
	 	Loan

    Number	Offering

    Document

    Cross-Reference	Pre-Modification

    Balance	Post-Modification

    Balance	Pre-Modification

    Interest Rate	Post-Modification

    Interest Rate	Modification

    Date	Modification
    Description	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 

 

    	Page 18 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Historical Liquidated
    Loan Detail	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Distribution

    Date	ODCR	Beginning

    Scheduled

    Balance	Fees,

    Advances,

    and Expenses *	Most
    Recent

    Appraised

    Value or BPO	Gross
    Sales

    Proceeds or

    Other Proceeds	Net
    Proceeds

    Received on

    Liquidation	Net
    Proceeds

    Available for

    Distribution	Realized
    

    Loss to Trust	Date
    of Current

    Period Adj.

    to Trust	Current
    Period

    Adjustment

    to Trust	Cumulative

    Adjustment

    to Trust	Loss
    to Loan

    with Cum

    Adj. to Trust	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Current
    Total	 	 	 	 	 	 	 	 	 	 	 	 
	 	Cumulative
    Total	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	*
    Fees, Advances and Expenses also include outstanding P & I advances and unpaid fees (servicing, trustee, etc.).	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 19 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Historical Bond/Collateral
    Loss Reconciliation Detail	 
	 	 	 
	 	Distribution

    Date	 	 	Offering

    Document

    Cross-Reference	 	 	Beginning

    Balance

    at Liquidation	 	 	Aggregate

    Realized Loss

    on Loans	 	 	Prior
    Realized

    Loss Applied

    to Certificates	 	 	Amounts

    Covered by

    Credit Support	 	 	Interest

    (Shortages)/

    Excesses	 	 	Modification

    /Appraisal

    Reduction Adj.	 	 	Additional

    (Recoveries)

    /Expenses	 	 	Realized
    Loss

    Applied to

    Certificates to Date	 	 	Recoveries
    of

    Realized Losses

    Paid as Cash	 	 	(Recoveries)/

    Losses Applied to

    Certificate Interest	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	   	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 20 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Interest Shortfall Reconciliation
    Detail - Part 1	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Offering

    Document

    Cross-Reference	 	 	Stated
    Principal

    Balance at

    Contribution	 	 	Current
    Ending

    Scheduled

    Balance	 	 	Special
    Servicing Fees	 	 	ASER	 	 	(PPIS)
    Excess	 	 	Non-Recoverable

    (Scheduled

    Interest)	 	 	Interest
    on

    Advances	 	 	Modified
    Interest

    Rate (Reduction)

    /Excess	 
	Monthly	 	 	Liquidation	 	Work Out
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	Page 21 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 	 
	 	Interest Shortfall Reconciliation
    Detail - Part 2	 
	 	 	 	 	 	 	 	 	 
	 	Offering

    Document

    Cross-Reference	Stated
    Principal

    Balance at

    Contribution	Current
    Ending

    Scheduled

    Balance	Reimb
    of Advances to the Servicer	Other
    (Shortfalls)/

    Refunds	Comments	 
	Current
    Month	Left
    to Reimburse

    Master Servicer
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 	 
	 	Interest Shortfall
    Reconciliation Detail Part 2 Total	0.00	 	 	 
	 	Interest Shortfall
    Reconciliation Detail Part 1 Total	0.00	 	 	 
	 	Total Interest
    Shortfall Allocated to Trust	0.00	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

    	Page 22 of 24

    	 

    

 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	Defeased
    Loan Detail
	 	 	 	 	 	 	 	 
	 	Loan
    Number	Offering
    Document

    Cross-Reference	Ending
    Scheduled

    Balance	Maturity
    Date	Note
    Rate	Defeasance
    Status	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	Totals	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 

 

    	Page 23 of 24

    	 

    
 

	 	 	 	 
		COMM 2015-CCRE26 Mortgage Trust

    Commercial Mortgage Pass-Through Certificates

    Series 2015-CCRE26	For
    Additional Information please contact
	CTSLink
    Customer Service
	1-866-846-4526
	Reports
    Available     www.ctslink.com
	Wells Fargo Bank, N.A.	 	 
	Corporate Trust Services	Payment Date:	11/13/15
	8480 Stagecoach Circle	Record Date:	10/30/15
	Frederick, MD 21701-4747	Determination Date:	11/6/15

	 	 	 
	 	 	 
	 	Supplemental Reporting	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    	Page 24 of 24

    	 

    

 

EXHIBIT L-1A

 

Form
of Investor Certification for Non-Borrower PartY

(for Persons other than the Controlling Class Representative and/or a Controlling Class Certificateholder)

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – COMM 2015-CCRE26

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with the
requirements for obtaining certain information under the Pooling and Servicing Agreement with respect to the above-referenced certificates
(the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned
is a certificateholder, beneficial owner or prospective purchaser of the Class ___ Certificates, and is neither the Controlling
Class Representative nor a Controlling Class Certificateholder.

 

2.          In the case of
a Publicly Offered Certificate, the undersigned has received a copy of the Prospectus.

 

3.          The undersigned
is not a Borrower Party.

 

4.          The undersigned
is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website.

 

In consideration of the
disclosure to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the
undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.

 

The undersigned shall
not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933,
as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

    	L-1A-1

    	 

    

 

5.          The undersigned
shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor,
the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the Underwriters,
the Initial Purchasers and the Trust Fund for any loss, liability or expense incurred thereby with respect to any such breach by
the undersigned or any of its Representatives.

 

6.          The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.

 

7.          Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

[BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have caused, its name
to be signed hereto by its duly authorized signatory, as of the date certified.]

	 	 	 
	 	[Certificateholder][Beneficial Owner][Prospective Purchaser]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    	L-1A-2

    	 

    

 

EXHIBIT L-1B

 

Form
of Investor Certification for Non-Borrower PartY

(for the Controlling Class Representative and/or a Controlling Class Certificateholder)

 

[Date]

 

	Wells Fargo Bank, National Association

 Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager	 	Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – COMM 2015-CCRE26
	
         

        CWCapital Asset Management LLC

7501 Wisconsin Avenue, Suite 500 West

Bethesda, Maryland 20814 

        Attention: Brian Hanson (COMM 2015-CCRE26)

         
	 	 

                                                  Wilmington Trust, National Association
 1100 North Market Street
 Wilmington, Delaware 19890
 Attention: CMBS Trustee – COMM 2015-CCRE26

	Park Bridge Lender Services LLC

c/o Park Bridge Financial LLC

560 Lexington Avenue, 17th Floor

New York, New York 10022

Attention: COMM 2015-CCRE26-Surveillance Manager	 	 

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with the
requirements for obtaining certain information under the Pooling and Servicing Agreement with respect to the above-referenced certificates
(the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned
is [the Controlling Class Representative][a Controlling Class Certificateholder].

 

3.          The undersigned
is not a Borrower Party.

 

4.          The undersigned
is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website.

 

    	L-1B-1

    	 

    

 

In consideration of the
disclosure to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the
undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.

 

The undersigned shall
not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933,
as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

5.          The undersigned
shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor,
the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the Underwriters,
the Initial Purchasers and the Trust Fund for any loss, liability or expense incurred thereby with respect to any such breach by
the undersigned or any of its Representatives.

 

6.          At any time the
undersigned becomes a Borrower Party with respect to any Mortgage Loan, the undersigned shall deliver the certification attached
as Exhibit L-1D to the Pooling and Servicing Agreement and shall deliver to the applicable parties the notices attached as Exhibit
L-1E and Exhibit L-1F to the Pooling and Servicing Agreement.

 

7.          The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.

 

8.          The undersigned
hereby certifies that an executed copy of this certification in paper form has been delivered in accordance with the notice provisions
of the Pooling and Servicing Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered
mail, postage prepaid.

 

9.          Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

[BY ITS CERTIFICATION
HEREOF, the undersigned has made the representations above and shall have caused, or shall be deemed to have caused, its name to
be signed hereto by its duly authorized signatory, as of the date certified.]

 

    	L-1B-2

    	 

    

 

	 	 	 
	 	[The Controlling
Class Representative][a Controlling Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    	L-1B-3

    	 

    

 

EXHIBIT L-1C

 

Form
of Investor Certification for Borrower PartY

(for Persons other than the Controlling Class Representative and/or a Controlling Class Certificateholder)

 

[Date]

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – COMM 2015-CCRE26

 

Wells Fargo Bank, National Association

   Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with the
requirements for obtaining certain information under the Pooling and Servicing Agreement with respect to the above-referenced certificates
(the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned
is a certificateholder, beneficial owner or prospective purchaser of the Class ___ Certificates, and is neither the Controlling
Class Representative nor a Controlling Class Certificatholder.

 

2          The undersigned
is a Borrower Party.

 

3.          The undersigned
is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website.

 

In consideration of the
disclosure to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the
undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.

 

    	L-1C-1

    	 

    

 

The undersigned shall
not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933,
as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

4.          The undersigned
shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor,
the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the Underwriters,
the Initial Purchasers and the Trust Fund for any loss, liability or expense incurred thereby with respect to any such breach by
the undersigned or any of its Representatives.

 

5.          The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.

 

6.          Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

[BY ITS CERTIFICATION
HEREOF, the undersigned shall be deemed to have caused its name to be signed hereto by its duly authorized signatory, as of the
date certified.]

	 	 	 
	 	[Certificateholder][Beneficial
Owner][Prospective Purchaser]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    	L-1C-2

    	 

    

 

EXHIBIT L-1D

 

Form
of Investor Certification for Borrower PartY

(for the Controlling Class Representative and/or a Controlling Class Certificateholder)

 

[Date]

	Wells Fargo Bank, National Association

 Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager	Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – COMM 2015-CCRE26
	
         

        CWCapital Asset Management LLC

7501 Wisconsin Avenue, Suite 500 West

Bethesda, Maryland 20814 

        Attention: Brian Hanson (COMM 2015-CCRE26)

         
	Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee – COMM 2015-CCRE26
	Park Bridge Lender Services LLC

c/o Park Bridge Financial LLC

560 Lexington Avenue, 17th Floor

New York, New York 10022

Attention: COMM 2015-CCRE26-Surveillance Manager	 

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with the
requirements for obtaining certain information under the Pooling and Servicing Agreement with respect to the above-referenced certificates
(the “Certificates”), the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned
is [the Controlling Class Representative][a Controlling Class Certificateholder].

 

2          The undersigned
is a Borrower Party with respect to the following Excluded Controlling Class Mortgage Loans:

 

[IDENTIFY EXCLUDED
CONTROLLING CLASS MORTGAGE LOANS] (the “Excluded Controlling Class Mortgage Loans”)

 

    	L-1D-1

    	 

    

 

3.          Except with respect
to the Excluded Controlling Class Mortgage Loans, the undersigned is requesting access pursuant to the Pooling and Servicing Agreement
to certain information (the “Information”) on the Certificate Administrator’s Website.

 

In consideration of the
disclosure to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the
undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner whatsoever, in whole or in part.

 

The undersigned shall
not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933,
as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

4.          The undersigned
hereby acknowledges and agrees that it is prohibited from accessing, reviewing and using Excluded Information (as defined in the
Pooling and Servicing Agreement) relating to the Excluded Controlling Class Mortgage Loans to the extent the undersigned receives
access to such Excluded Information on the Certificate Administrator’s website or otherwise receives access to such Excluded
Information in connection with its duties, or exercise of its rights pursuant to the Pooling and Servicing Agreement.

 

5.          The undersigned
shall be fully liable for any breach of this agreement by itself or any of its Representative and shall indemnify each party to
the Pooling and Servicing Agreement, the Underwriters, the Initial Purchasers and the Trust Fund for any loss, liability or expense
incurred thereby with respect o any such breach by the undersigned or any of its Representatives.

 

6.          To the extent the
undersigned receives access to any Excluded Information on the Certificate Administrator’s Website or otherwise receives
access to such Excluded Information, the undersigned shall be deemed to have agreed that it (i) will not directly or indirectly
provide such Excluded Information to the related Borrower or (A) any employees or personnel of the undersigned or any Affiliate
involved in the management of any investment in the related Borrower or the related Mortgaged Property or (B) to its actual knowledge,
any non-Affiliate that holds a direct or indirect ownership interest in the related Borrower, and (ii) will maintain sufficient
internal controls and appropriate policies and procedures in place in order to comply with the obligations described in clause
(i) above.

 

7.          The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations and covenants contained herein remain true and correct.

 

    	L-1D-2

    	 

    

 

8.          The undersigned
hereby certifies that an executed copy of this certification in paper form has been delivered in accordance with the notice provisions
of the Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered mail, postage prepaid.

 

9.          Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

[BY ITS CERTIFICATION
HEREOF, the undersigned shall be deemed to have caused its name to be signed hereto by its duly authorized signatory, as of the
date certified.]

	 	 	 
	 	[The Controlling
Class Representative][a Controlling Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    	L-1D-3

    	 

    

 

EXHIBIT L-1E

 

FORM OF NOTICE OF EXCLUDED CONTROLLING
CLASS HOLDER

 

[Date]

 

	Wells Fargo Bank, National Association

 Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager	 	Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – COMM 2015-CCRE26
	
         

        CWCapital Asset Management LLC

7501 Wisconsin Avenue, Suite 500 West

Bethesda, Maryland 20814 

        Attention: Brian Hanson (COMM 2015-CCRE26)

         
	 	Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee – COMM 2015-CCRE26
	Park Bridge Lender Services LLC

c/o Park Bridge Financial LLC

560 Lexington Avenue, 17th Floor

New York, New York 10022

Attention: COMM 2015-CCRE26-Surveillance Manager	 	 

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

THIS NOTICE IDENTIFIES
AN “EXCLUDED CONTROLLING CLASS MORTGAGE LOAN” RELATING TO THE COMM 2015-CCRE26 MORTGAGE TRUST COMMERCIAL MORTGAGE PASS-THROUGH
CERTIFICATES REQUIRING ACTION BY YOU AS THE RECIPIENT PURSUANT TO SECTION 3.32 OF THE POOLING AND SERVICING AGREEMENT.

 

In accordance with Section
4.02(b) of the Pooling and Servicing Agreement, with respect to the above-referenced certificates (the “Certificates”),
the undersigned (the “Excluded Controlling Class Holder”) hereby certifies and agrees as follows:

 

1.          The undersigned is
[the Controlling Class Representative] [a Controlling Class Certificateholder] as of the date hereof.

 

2.          The undersigned has
become an Excluded Controlling Class Holder with respect to the following Mortgage Loan(s) (“Excluded Controlling Class
Mortgage Loans”):

 

    	L-1E-1

    	 

    

 

	Mortgage Loan Number	ODCR	Loan Name	Borrower Name
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

3.          The undersigned is
simultaneously providing notice to the Certificate Administrator in the form of Exhibit L-1F to the Pooling and Servicing Agreement,
requesting termination of access to any Excluded Information. The undersigned acknowledges that it is not permitted to access and
shall not access any Excluded Information relating to the Excluded Controlling Class Mortgage Loans on the Certificate Administrator’s
website unless and until it has (i) delivered notice of the termination of the related Excluded Controlling Class Holder status
and (ii) submitted a new investor certification in accordance with Section 4.02(b) of the Pooling and Servicing Agreement.

 

4.          The undersigned agrees
to indemnify and hold harmless each party to the Pooling and Servicing Agreement, the Underwriters, the Initial Purchasers and
the Trust Fund from any damage, loss, cost or liability (including legal fees and expenses and the cost of enforcing this indemnity)
arising out of or resulting from any unauthorized access by the undersigned or any agent, employee, representative or person acting
on its behalf of any Excluded Information relating to the Excluded Controlling Class Mortgage Loans listed in Paragraph 2 above.

 

Capitalized terms used
but not defined herein have the respective meanings given to them in the Pooling and Servicing Agreement.

 

IN WITNESS WHEREOF,
the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly
authorized officer, as of the day and year written above.

	 	 	 
	 	[Controlling Class Representative]
[a Controlling Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	Phone:
	 	 	Email:
	 	 	Address:

 

    	L-1E-2

    	 

    

 

EXHIBIT L-1F

 

FORM OF NOTICE OF EXCLUDED CONTROLLING
CLASS HOLDER TO CERTIFICATE ADMINISTRATOR

 

[Date]

 

	
        Via: Email

        Wells Fargo Bank, National Association

        9062 Old Annapolis Road

        Columbia, Maryland 21045

        Attention: Corporate Trust Services – COMM 2015-CCRE26

        cts.cmbs.bond.admin@wellsfargo.com

         

        with a copy to:

         

        Wells Fargo Bank, National Association

        8480 Stagecoach Circle

        Frederick, Maryland 21701-4747

        Attention: COMM 2015-CCRE26

         

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with Section
4.02(b) of the Pooling and Servicing Agreement, with respect to the above-referenced certificates (the “Certificates”),
the undersigned (the “Excluded Controlling Class Holder”) hereby directs you as follows:

 

1.          The undersigned is
the [Controlling Class Representative] [a Controlling Class Certificateholder] as of the date hereof.

 

2.          The
undersigned has become an Excluded Controlling Class Holder with respect to the following Mortgage Loan(s) (“Excluded
Controlling Class Mortgage Loans”):

 

	Mortgage Loan Number	ODCR	Loan Name	Borrower Name
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    	L-1F-1

    	 

    

 

3.          The
following USER IDs for CTSLink are affiliated with the undersigned and access to any information on the Certificate Administrator’s
Website with respect to the COMM 2015-CCRE26 Mortgage Trust securitization should be revoked as to such users:

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

4.          The undersigned acknowledges
that it is not permitted to access and shall not access any Excluded Information with respect to such Excluded Controlling Class
Mortgage Loans on the Certificate Administrator’s website unless and until it (i) is no longer an Excluded Controlling Class
Holder with respect to such Excluded Controlling Class Mortgage Loans, (ii) has delivered notice of the related Excluded Controlling
Class Holder status and (iii) has submitted an investor certification in the form of Exhibit L-1E to the Pooling and Servicing
Agreement.

 

Capitalized terms used
but not defined herein have the respective meanings given to them in the Pooling and Servicing Agreement.

 

IN WITNESS WHEREOF, the
undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly authorized
officer, as of the day and year written above.

	 	 	 
	 	 	[Controlling Class Representative] [a Controlling Class Certificateholder]
	 	 	 
	 		 
	 	 	Name:
	 	 	Title:
	 	 	Phone:
	 	 	Email:
	 	 	Address:

 

The undersigned hereby acknowledges that

access to CTSLink has been revoked for

the users listed in Paragraph 3.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

Certificate Administrator

 

    	L-1F-2

    	 

    

 

	 	 
	 	 
	Name:	 
	Title:	 

 

    	L-1F-3

    	 

    

 

EXHIBIT L-1G

 

Form
of Certification of the Controlling Class Representative

 

[Date]

	Wells Fargo Bank, National Association

 Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager	Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – COMM 2015-CCRE26
	
         

        CWCapital Asset Management LLC

7501 Wisconsin Avenue, Suite 500 West

Bethesda, Maryland 20814 

        Attention: Brian Hanson (COMM 2015-CCRE26)

         
	Wilmington Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee – COMM 2015-CCRE26
	Park Bridge Lender Services LLC

c/o Park Bridge Financial LLC

560 Lexington Avenue, 17th Floor

New York, New York 10022

Attention: COMM 2015-CCRE26-Surveillance Manager	 

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with Section
3.29(a) of the Pooling and Servicing Agreement, the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned
has been appointed to act as the Controlling Class Representative.

 

2.          The undersigned
is not a Borrower Party.

 

3.          If the undersigned
becomes a Borrower Party with respect to any Mortgage Loan, the undersigned agrees to and shall deliver the certification attached
as Exhibit L-1D to the Pooling and Servicing Agreement and shall deliver to the applicable parties the notices attached as Exhibit
L-1E and Exhibit L-1F to the Pooling and Servicing Agreement.

 

4.          The undersigned
hereby certifies that an executed copy of this certification in paper form has been delivered in accordance with the notice provisions
of the Pooling and

 

    	L-1G-1

    	 

    

 

Servicing Agreement to each of the addressees listed above (a) by overnight courier or (b) mailed by registered
mail, postage prepaid.

 

5.          Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement.

 

[BY ITS CERTIFICATION
HEREOF, the undersigned shall be deemed to have caused its name to be signed hereto by its duly authorized signatory, as of the
date certified.]

	 	 	 
	 	[The Controlling
Class Representative][a Controlling Class Certificateholder]
	 	 	 
	 	By:	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    	L-1G-2

    	 

    

 

EXHIBIT L-2

 

FORM OF FINANCIAL MARKET PUBLISHER CERTIFICATION

 

This Certification has been prepared
for provision of information to the market data providers listed in Paragraph 1 below pursuant to the direction of the Depositor.

 

In connection with
the COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates (the “Certificates”) issued
pursuant to the Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”),
entered into with respect to the above-referenced Certificates, the undersigned hereby certifies and agrees as follows:

 

		1.	The undersigned is an employee or agent of BlackRock Financial Management, Inc., Bloomberg Financial
Markets, L.P., Thomson Reuters Corporation, Intex Solutions, Inc., Trepp, LLC, Interactive Data Corporation or Markit LLC, a market
data provider that has been given access to the Distribution Date Statements, CREFC reports and supplemental notices delivered
or made available pursuant to Section 4.02 of the Pooling and Servicing Agreement to Privileged Persons on www.ctslink.com (the
“Website”) by request of the Depositor.

 

		2.	The undersigned agrees that each time it accesses the Website, the undersigned is deemed to have
recertified that the representation above remains true and correct.

 

		3.	Capitalized terms used but not defined herein shall have the respective meanings assigned thereto
in the agreement pursuant to which the Certificates were issued.

 

BY ITS CERTIFICATION HEREOF,
the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly
authorized signatory, as of the date certified.

 

    	L-2-1

    	 

    

 

EXHIBIT M

 

FORM OF NOTIFICATION FROM CUSTODIAN

 

[DATE]

 

To the Persons Listed on the attached Schedule
A

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

Ladies and Gentlemen:

 

In accordance with Section
2.02 of the Pooling and Servicing Agreement, the undersigned, as Custodian, hereby notifies you that, based upon the review required
under the Pooling and Servicing Agreement, the Mortgage File for each Mortgage Loan set forth on the attached defect schedule contains
a document or documents which (i) has not been executed or received, (ii) has not been recorded or filed (if required), (iii) is
unrelated to the Mortgage Loans identified in the Mortgage Loan Schedule, (iv) appears not to be what they purport to be or has
been torn in any materially adverse manner or (v) is mutilated or otherwise defaced, in each case as more fully described on the
attached defect schedule.

 

The Custodian has no
responsibility to determine, and expresses no opinion with respect thereto, whether any document or opinion is legal, valid, binding
or enforceable, whether the text of any assignment or endorsement is in proper or recordable form (except, if applicable, to determine
if the Trustee is the assignee or endorsee), whether any document has been recorded in accordance with the requirements of any
applicable jurisdiction, whether a blanket assignment is permitted in any applicable jurisdiction, or whether any Person executing
any document or rendering any opinion is authorized to do so or whether any signature thereon is genuine.

 

Capitalized words and
phrases used herein shall have the respective meanings assigned to them in the above-captioned Pooling and Servicing Agreement.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Custodian
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	M-1

    	 

    

 

SCHEDULE A

TO

FORM OF NOTIFICATION FROM CUSTODIAN

 

Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

Park Bridge Lender Services LLC

Via email to cmbs.notices@parkbridgefinancial.com (Re: COMM 2015-CCRE26)

 

Wells Fargo Bank, National
Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – COMM 2015-CCRE26

 

Wilmington Trust, National
Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee – COMM 2015-CCRE26

Email: cmbstrustee@wilmingtontrust.com

 

Wells Fargo Bank, National
Association

   Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager

 

CWCapital Asset Management
LLC

7501 Wisconsin Avenue, Suite 500 West

Bethesda, Maryland 20814

Attention: Brian Hanson (COMM 2015-CCRE26)

 

with a copy
to:

 

CWCapital Asset Management
LLC

7501 Wisconsin Avenue, Suite 500 West

Bethesda, Maryland 20814

Attention: Legal Department (COMM 2015-CCRE26)

 

To the applicable Mortgage Loan Seller:

 

    	M-2

    	 

    

 

German American Capital Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

Cantor Commercial Real Estate
Lending, L.P.

110 East 59th Street

New York, New York 10022

Attention: Anthony Orso

 

with an electronic copy
to:

 

Cantor Commercial Real Estate
Lending, L.P.

110 East 59th Street

New York, New York 10022

Attention: Legal Department

E-mail: legal@ccre.com

 

Jefferies LoanCore LLC

c/o LoanCore Capital

80 Field Point Road

Greenwich, Connecticut

Attention: Dan Bennett

Fax No.: (203) 861-6006

 

    	M-3

    	 

    

 

DEFECT SCHEDULE

TO FORM OF NOTIFICATION FROM CUSTODIAN

 

    	M-4

    	 

    

 

EXHIBIT N-1

 

FORM OF CLOSING DATE CUSTODIAN CERTIFICATION

[Date]

 

[                     ]

[                     ]

[                     ]

Attention: [                     ]

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with Section
2.02 of the Pooling and Servicing Agreement, the Custodian hereby certifies that, with respect to each Mortgage Loan listed on
the Mortgage Loan Schedule attached hereto as Schedule A, (a) the Custodian has in its possession the documents specified in clause
(i) of the definition of “Mortgage File”, (b) the foregoing documents delivered or caused to be delivered by the Mortgage
Loan Sellers as described in clause (a) above have been reviewed by it or by a Custodian on its behalf and appear regular on their
face, appear to be executed and purports to relate to such Mortgage Loan, except as identified on the schedule attached hereto,
and (c) each of the documents specified in Section 2.01(a)(ii), 2.01(a)(vii), 2.01(a)(xi) and 2.01(a)(xix) of the Pooling and Servicing
Agreement have been received, have been executed, appear to be what they purport to be, purport to be recorded or filed (as applicable)
and have not been torn in any materially adverse manner or mutilated or otherwise defaced, and that such documents relate to the
Mortgage Loans identified in the Mortgage Loan Schedule.

 

Capitalized terms used
but not defined herein shall the respective meanings set forth in the Pooling and Servicing Agreement.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Custodian
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	N-1-1

    	 

    

 

SCHEDULE A 

TO CLOSING DATE CUSTODIAN CERTIFICATION

 

MORTGAGE LOAN SCHEDULE

 

    	N-1-2

    	 

    

 

EXHIBIT N-2

 

FORM OF POST-CLOSING CUSTODIAN CERTIFICATION

 

[Date]

 

[                     ]

[                     ]

[                     ]

Attention: [                     ]

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with Section
2.02 of the Pooling and Servicing Agreement, the Custodian hereby certifies, subject to the terms of the Pooling and Servicing
Agreement, that, with respect to each Mortgage Loan listed on the Mortgage Loan Schedule attached hereto as Schedule A, all documents
(other than documents referred to in clauses (xix) and (xx) of Section 2.01(a) of the Pooling and Servicing Agreement and the documents
referred to in clauses (iii), (v)(B) and (viii)(B) of Section 2.01(a) of the Pooling and Servicing Agreement and the assignments
of financing statements referred to in clause (xiii) of Section 2.01(a) of the Pooling and Servicing Agreement) referred to in
Section 2.01(a) of the Pooling and Servicing Agreement (in the case of the documents referred to in Section 2.01(a)(iv), (vi),
(viii), (ix), (x), (xii) through (xvi) and (xviii) through (xx) of the Pooling and Servicing Agreement, as identified to it in
writing by the related Mortgage Loan Seller) and any original recorded documents included in the delivery of a Mortgage File have
been received, have been executed, appear to be what they purport to be, purport to be recorded or filed (as applicable) and have
not been torn in any materially adverse manner or mutilated or otherwise defaced, and that such documents relate to the Mortgage
Loans identified in the Mortgage Loan Schedule, in each case, except as set forth on the attached schedule hereto.

 

Capitalized terms used
but not defined herein shall the respective meanings set forth in the Pooling and Servicing Agreement.

	 	 	 
	 	WELLS
FARGO BANK, NATIONAL ASSOCIATION, as Custodian
	 	 	 
	 	By:	 
	 	 	Corporate Trust Officer
	 	 	Name:
	 	 	Title:

 

    	N-2-1

    	 

    

 

SCHEDULE A 

TO POST-CLOSING CUSTODIAN CERTIFICATION

 

MORTGAGE LOAN SCHEDULE

 

    	N-2-2

    	 

    

 

EXHIBIT O

 

FORM OF TRUSTEE BACKUP CERTIFICATION

 

COMM 2015-CCRE26 Mortgage Trust (The
“Trust”)

 

The undersigned, __________,
a __________ of WILMINGTON TRUST, NATIONAL ASSOCIATION, on behalf of WILMINGTON TRUST, NATIONAL ASSOCIATION, as trustee (the “Trustee”),
under that certain Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”),
entered into between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association,
as master servicer, CWCapital Asset Management LLC, as special servicer, Park Bridge Lender Services LLC, as operating advisor,
Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate administrator (in
such capacity, the “Certificate Administrator”), paying agent and custodian, certifies to [____], Deutsche Mortgage
& Asset Receiving Corporation and its officers, directors and affiliates, to the extent that the following information is
within the Trustee’s normal area of responsibilities and duties under the Pooling and Servicing Agreement, and with the
knowledge and intent that they will rely upon this certification, that:

 

		1.	I am responsible for reviewing the activities performed by the Trustee and based on my knowledge
and the compliance reviews conducted in preparing the Trustee compliance statements required for inclusion on Form 10-K pursuant
to Item 1123 of Regulation AB, and except as disclosed to the Certificate Administrator and to the Depositor, the Trustee has fulfilled
its obligations in all material respects under the Pooling and Servicing Agreement; and

 

		2.	The report on assessment of compliance with servicing criteria applicable to the Trustee for asset-backed
securities with respect to the Trustee or any Servicing Function Participant retained by the Trustee and related attestation report
on assessment of compliance with servicing criteria applicable to it required to be included in the annual report on Form 10-K
for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 has been provided
to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K. Any material instances of
noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor for disclosure in
such annual report on Form 10-K.

 

    	O-1

    	 

    

 

Capitalized terms used
but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

Date:                                          

	 	 	 
	 	WILMINGTON
TRUST, NATIONAL ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	O-2

    	 

    

 

EXHIBIT P

 

FORM OF CUSTODIAN BACKUP CERTIFICATION

 

COMM 2015-CCRE26 Mortgage Trust (the
“Trust”)

 

The undersigned, __________,
a __________ of WELLS FARGO BANK, NATIONAL ASSOCIATION, on behalf of WELLS FARGO BANK, NATIONAL ASSOCIATION, as custodian (in
such capacity, the “Custodian”), under that certain Pooling and Servicing Agreement, dated as of October 1,
2015 (the “Pooling and Servicing Agreement”), entered into between Deutsche Mortgage & Asset Receiving
Corporation, as depositor, Wells Fargo Bank, National Association, as master servicer, CWCapital Asset Management LLC, as special
servicer, Park Bridge Lender Services LLC, as operating advisor, Wilmington Trust, National Association, as trustee, and Wells
Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, certifies to [____], Deutsche Mortgage & Asset Receiving Corporation and its officers, directors and
affiliates, to the extent that the following information is within the Custodian’s normal area of responsibilities and duties
under the Pooling and Servicing Agreement, and with the knowledge and intent that they will rely upon this certification, that:

 

		1.	I am responsible for reviewing the activities performed by the Custodian and based on my knowledge
and the compliance reviews conducted in preparing the Custodian compliance statements required for inclusion on Form 10-K pursuant
to Item 1123 of Regulation AB, and except as disclosed to the Certificate Administrator and to the Depositor, the Custodian has
fulfilled its obligations in all material respects under the Pooling and Servicing Agreement; and

 

		2.	The report on assessment of compliance with servicing criteria applicable to the Custodian for
asset-backed securities with respect to the Custodian or any Servicing Function Participant retained by the Custodian and related
attestation report on assessment of compliance with servicing criteria applicable to it required to be included in the annual report
on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 has
been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K. Any material
instances of noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor for
disclosure in such annual report on Form 10-K.

 

Capitalized terms used
but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

    	P-1

    	 

    

 

		Date:__________________________

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	P-2

    	 

    

 

EXHIBIT Q

 

FORM OF CERTIFICATE ADMINISTRATOR BACKUP
CERTIFICATION

 

COMM 2015-CCRE26 Mortgage Trust (The
“Trust”)

 

The undersigned, __________,
a __________ of WELLS FARGO BANK, NATIONAL ASSOCIATION, on behalf of WELLS FARGO BANK, NATIONAL ASSOCIATION, as certificate administrator,
(in such capacity, the “Certificate Administrator”), paying agent and custodian, under that certain Pooling
and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), entered into
between Deutsche Mortgage & Asset Receiving Corporation, as depositor (the “Depositor”), Wells Fargo Bank,
National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset Management
LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating advisor, Wilmington
Trust, National Association, as trustee (the “Trustee”), and Wells Fargo Bank, National Association, as certificate
administrator, paying agent and custodian, certifies to [____], Deutsche Mortgage & Asset Receiving Corporation and its officers,
directors and affiliates, to the extent that the following information is within the Certificate Administrator’s normal
area of responsibilities and duties under the Pooling and Servicing Agreement, and with the knowledge and intent that they will
rely upon this certification, that:

 

		1.	I have reviewed the annual report on Form 10-K for the fiscal year [20___] (the “Annual
Report”), and all reports on Form 10-D and Form 8-K to be filed in respect of periods included in the year covered by
the Annual Report (collectively with the Annual Report, the “Reports”), of the Trust;

 

		2.	To my knowledge, the Reports taken as a whole, do not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by the Annual Report;

 

		3.	To my knowledge, the distribution information required to be provided by the Certificate Administrator
under the Pooling and Servicing Agreement for inclusion in the Reports is included in the Reports;

 

		4.	I am responsible for reviewing the activities performed by the Certificate Administrator under
the Pooling and Servicing Agreement and based on my knowledge and the compliance reviews conducted in preparing the Certificate
Administrator compliance statements required for inclusion on Form 10-K pursuant to Item 1123 of Regulation AB, and except as disclosed
on any Reports, the Certificate Administrator has fulfilled its obligations in all material respects under the Pooling and Servicing
Agreement; and

 

		5.	The report on assessment of compliance with servicing criteria applicable to the Certificate Administrator
for asset-backed securities with respect to the Certificate Administrator or any Servicing Function Participant retained by the
Certificate Administrator and related attestation report on assessment of compliance with servicing

 

    	Q-1

    	 

    

 

			criteria applicable to it required
to be included in the annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange
Act Rules 13a-18 and 15d-18 has been provided to the Depositor for inclusion as an exhibit to such Form 10-K. Any material instances
of noncompliance described in such reports have been provided to the Depositor for disclosure in such annual report on Form 10-K.

 

In giving the certifications
above, the Certificate Administrator has reasonably relied on information provided to it by the following unaffiliated persons:
the Master Servicer, the Special Servicer, the Depositor and the Trustee.

 

Capitalized terms used
but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

		Date:_________________________

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Q-2

    	 

    

 

EXHIBIT R

 

FORM OF MASTER SERVICER BACKUP CERTIFICATION

 

COMM 2015-CCRE26 Mortgage
Trust (the “Trust”)

 

I, [identify the certifying
individual], a [_______________] of WELLS FARGO BANK, NATIONAL ASSOCIATION, as master servicer (in such capacity, the “Master
Servicer”) under that certain Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling and
Servicing Agreement”), entered into between Deutsche Mortgage & Asset Receiving Corporation, as depositor, the Master
Servicer, CWCapital Asset Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services
LLC, as operating advisor, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate
administrator (in such capacity, the “Certificate Administrator”), paying agent and custodian, on behalf of
the Master Servicer, certify to [Name of Certifying Person(s) for Sarbanes-Oxley Certification], the Depositor, and its officers,
directors and affiliates, and with the knowledge and intent that they will rely upon this certification, that:

 

		1.	Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant
Period”), and assuming the accuracy of the statements required to be made by the Special Servicer, [each applicable Other
Servicer and each applicable Other Special Servicer] in the backup certificate[s] delivered by the Special Servicer, [each applicable
Other Servicer and each applicable Other Special Servicer] relating to the Relevant Period, all servicing information and all reports
required to be submitted by the Master Servicer to the Certificate Administrator pursuant to Sections 3.13(a) and 3.13(c) of the
Pooling and Servicing Agreement for inclusion in the annual report on Form 10-K for the Relevant Period and inclusion in all reports
on Form 10-D or Form 8-K (the “Servicer Reports”) have been submitted by the Master Servicer to the Certificate
Administrator for inclusion in these reports;

 

		2.	Based on my knowledge, and assuming the accuracy of the statements required to be made by the Special
Servicer, [each applicable Other Servicer and each applicable Other Special Servicer] in the backup certificate[s] delivered by
the Special Servicer, [each applicable Other Servicer and each applicable Other Special Servicer] relating to the Relevant Period,
the master servicing information contained in the Servicer Reports, taken as a whole, does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which
such statements were made, not misleading with respect to the period covered by these reports;

 

		3.	I am, or a servicing officer under my supervision is, responsible for reviewing the activities
performed by the Master Servicer under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance
reviews conducted in preparing the servicer compliance statements required for inclusion on Form 10-K pursuant to Item 1123 of
Regulation AB with respect to the Master Servicer, and except as disclosed in the compliance certificate delivered by the Master
Servicer under Section

 

    	R-1

    	 

    

 

			10.11 of the Pooling and Servicing Agreement, the Master Servicer has fulfilled its obligations under the
Pooling and Servicing Agreement in all material respects in the year to which such report applies;

 

		4.	The accountants that are to deliver the annual attestation report on assessment of compliance with
the Relevant Servicing Criteria in respect of the Master Servicer with respect to the Trust’s fiscal year _____ have been
provided all information relating to the Master Servicer’s assessment of compliance with the Relevant Servicing Criteria
in order to enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the
PCAOB; and

 

		5.	The report on assessment of compliance with servicing criteria applicable to the Master Servicer
for asset-backed securities with respect to the Master Servicer or any Servicing Function Participant retained by the Master Servicer
and related attestation report on assessment of compliance with servicing criteria applicable to it required to be included in
the annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18
and 15d-18 has been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K.
Any material instances of noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor
for disclosure in such annual report on Form 10-K.

 

In giving the certification
above, I have reasonably relied on and make no certification as to information provided to me by the following unaffiliated parties:
[name(s) of servicer, sub-servicer, co-servicer, Other Servicer, Other Special Servicer or Other Trustee not retained by the master
servicer giving certification] and, notwithstanding the foregoing certifications, neither I nor Master Servicer makes any certification
under the foregoing clauses (2) and (3) with respect to the information in the Servicing Reports that is in turn dependent upon
information provided by the Special Servicer under the Pooling and Servicing Agreement or by any Other Servicer, Other Special
Servicer or Other Trustee.

 

Capitalized terms used
but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

    	R-2

    	 

    

 

		Date:_________________________

	 	 	 
	 	WELLS FARGO
BANK, NATIONAL ASSOCIATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	R-3

    	 

    

 

EXHIBIT S

 

FORM OF SPECIAL SERVICER BACKUP CERTIFICATION

 

COMM 2015-CCRE26 Mortgage Trust (the
“Trust”)

 

I, [identify the certifying
individual], a [_______________ ] of CWCapital Asset Management LLC, as special
servicer (the “Special Servicer”) under that certain Pooling and Servicing Agreement dated as of October 1,
2015 (the “Pooling and Servicing Agreement”), entered into between Deutsche Mortgage & Asset Receiving Corporation,
as depositor, Park Bridge Lender Services LLC, as operating advisor, Wilmington Trust, National Association, as trustee, Wells
Fargo Bank, National Association, as certificate administrator (in such capacity, the “Certificate Administrator”),
paying agent and custodian, Wells Fargo Bank, National Association, as master servicer (in such capacity, the “Master
Servicer”) and the Special Servicer, on behalf of the Special Servicer, certify to [Name of Certifying Person(s) for
Sarbanes-Oxley Certification], the Depositor, and its officers, directors and affiliates, and with the knowledge and intent that
they will rely upon this certification, that:

 

		1.	Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant
Period”), all servicing information and all required reports required to be submitted by the Special Servicer to the
Master Servicer, the Depositor, the Trustee or the Certificate Administrator, as applicable, pursuant to the Pooling and Servicing
Agreement for inclusion in the annual report on Form 10-K for the Relevant Period and inclusion in all reports on Form 10-D or
Form 8-K (the “Special Servicer Reports”) have been submitted by the Special Servicer to the Master Servicer,
the Depositor, the Trustee or the Certificate Administrator, as applicable, for inclusion in these reports;

 

		2.	Based on my knowledge, the special servicing information contained in the Special Servicer Reports,
taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made therein, in light of the circumstances under which such statements were made, not misleading with respect to the
period covered by these reports;

 

		3.	I am, or an officer under my supervision is, responsible for reviewing the activities performed
by the Special Servicer under the Pooling and Servicing Agreement and based upon my knowledge and the annual compliance reviews
conducted in preparing the servicer compliance statements required in this report under Item 1123 of Regulation AB with respect
to the Special Servicer, and except as disclosed in the compliance certificate delivered by the Special Servicer under Section
10.11 of the Pooling and Servicing Agreement, the Special Servicer has fulfilled its obligations under the Pooling and Servicing
Agreement in all material respects in the year to which such report applies;

 

		4.	The accountants that are to deliver the annual attestation report on assessment of compliance
                                                          with the Relevant Servicing Criteria in respect of the Special Servicer with respect to the Trust’s fiscal year _____
                                                          have been provided all information relating to the Special Servicer assessment of compliance with the Relevant Servicing
                                                          Criteria, in order

 

    	S-1

    	 

    

 

			 to enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB;
and

 

		5.	The report on assessment of compliance with servicing criteria applicable to the Special Servicer
for asset-backed securities with respect to the Special Servicer or any Servicing Function Participant retained by the Special
Servicer and related attestation report on assessment of compliance with servicing criteria applicable to it required to be included
in the annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules
13a-18 and 15d-18 has been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form
10-K. Any material instances of noncompliance described in such reports have been provided to the Certificate Administrator and
the Depositor for disclosure in such annual report on Form 10-K.

 

Capitalized terms used
but not defined herein have the meanings set forth in the Pooling and Servicing Agreement.

 

		Date:_________________________

	 	 	 
	 	CWCapital
Asset Management LLC
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	S-2

    	 

    

 

EXHIBIT T

 

MORTGAGE LOAN SELLER SUB-SERVICERS

 

	Sub-Servicer Name	Mortgage Loan(s)
	Berkadia Commercial Mortgage LLC	
        Homewood Suites by Hilton Scottsdale 

        Walmart Lake Geneva

	Berkeley Point Capital LLC	Devon Park Drive Corporate Campus

                                                                                                                                                 Rosetree Corporate Center

                                                                                                                                                 Park at Perimeter Center East

                                                                                                                                                 Preferred Freezer Perth Amboy

                                                                                                                                                 ART Florida & Ohio
                                                                                                                                                 MF Portfolio III

                                                                                                                                                 Founders Marketplace

                                                                                                                                                 Newport News Industrial Complex

                                                                                                                                                 Wheeler North Carolina Portfolio

                                                                                                                                                 Town Center Medical
                                                                                                                                                 Office

                                                                                                                                                 2210 Main Street

                                                                                                                                                 2010 Westgate Avenue

                                                                                                                                                 USF Holland Distribution Center

                                                                                                                                                 Wood Tavern Wynwood

                                                                                                                                                 Grand Hilton Office

                                                                                                                                                 Modesto
                                                                                                                                                 Portfolio

                                                                                                                                                 CAL Ranch Plaza

                                                                                                                                                 Walgreens Nashville

                                                                                                                                                 Defuniak Square

                                                                                                                                                 Best Buy Menomonee Falls

                                                                                                                                                 Riverside Plaza

                                                                                                                                                 Las Misiones

                                                                                                                                                 89 Cross
                                                                                                                                                 Street

                                                                                                                                                 Leisure Lake MHP

                                                                                                                                                 Newberry Estates MHP

	TRP, Inc. d/b/a George Elkins Mortgage Banking Company	La Mirada Crossroads 2
	Holliday Fenoglio Fowler, L.P. 	Hilton Garden Inn El Paso 

 

    	T-1

    	 

    

 

	 	Great Neck Office Building
	GEMSA Loan Services, L.P.	Logistics Pointe

 

    	T-2

    	 

    

 

EXHIBIT U

 

MORTGAGE LOANS WITH EARNOUT/HOLDBACK
PROVISIONS

 

		1)	Portofino Plaza

 

		2)	Empire Corporate Plaza

 

		3)	Park at Perimeter Center East

 

		4)	Grand Hilton Office

 

    	U-1

    	 

    

 

EXHIBIT V

 

FORM OF NRSRO CERTIFICATION

 

[Date]

 

Wells Fargo Bank, National
Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – COMM 2015-CCRE26

 

		Re:	COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates

 

In accordance with the
Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Agreement”), entered into and executed in
connection with the above-referenced transaction, with respect to the certificates issued thereunder (the “Certificates”),
the undersigned hereby certifies as follows:

 

1.             (a)          The undersigned
is a Rating Agency; or

 

(b)          The undersigned
is a nationally recognized statistical rating organization and either (x) has provided the Depositor with the appropriate certifications
under Exchange Act Rule 17g-5(e), had access to the Depositor’s 17g-5 website prior to the Closing Date, is requesting access
pursuant to the Agreement to certain information (the “Information”) on such 17g-5 website pursuant to the provisions
of the Agreement, and agrees that any confidentiality agreement applicable to the undersigned with respect to the information obtained
from the Depositor’s 17g-5 website prior to the Closing Date shall also be applicable to information obtained from the 17g-5
Information Provider’s Website (including without limitation, to any information received by the Depositor for posting on
the 17g-5 Information Provider’s Website), or (y), if the undersigned did not have access to the Depositor’s 17g-5
website prior to the Closing Date, it hereby agrees that it shall be bound by the provisions of the confidentiality agreement as
provided by Wells Fargo Bank, National Association, as the 17g-5 Information Provider, which shall be applicable to it with respect
to any information obtained from the 17g-5 Information Provider’s Website, including any information that is obtained from
the section of the 17g-5 Information Provider’s Website that hosts the Depositor’s 17g-5 website after the Closing
Date.

 

2.             The undersigned
either (a) has not accessed information pursuant to Rule 17g–5(a)(3) ten (10) or more times during the most recently ended
calendar year, or (b) has determined and maintained credit ratings for at least 10% of the issued securities and money market instruments
for which it accessed information pursuant to Rule 17g–5(a)(3)(iii) in the calendar year prior to the year covered by the
SEC Certification, if it accessed such information for 10 or more issued securities or money market instruments.

 

    	V-1

    	 

    

 

3.             The
undersigned agrees that each time it accesses the 17g-5 Information Provider’s Website, it is deemed to have recertified
that the representations herein contained remain true and correct.

 

Capitalized terms used
but not defined herein shall have the respective meanings assigned thereto in the Agreement.

 

BY ITS CERTIFICATION HEREOF,
the undersigned has made the representations above and shall be deemed to have caused its name to be signed hereto by its duly
authorized signatory, as of the date certified.

 

    	V-2

    	 

    

 

EXHIBIT W-1

 

FORM OF TRANSFEROR CERTIFICATE

FOR TRANSFER OF THE EXCESS SERVICING FEE RIGHTS

 

[Date]

 

Deutsche Mortgage &
Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

		Re:	Deutsche Mortgage & Asset Receiving Corporation, COMM 2015-CCRE26 Mortgage Trust Commercial
Mortgage Pass-Through Certificates

 

Ladies and Gentlemen:

 

This
letter is delivered to you in connection with the transfer by _________________ (the “Transferor”) to _________________
(the “Transferee”) of the Excess Servicing Fee Right established under the Pooling and Servicing Agreement,
dated as of October 1, 2015 (the “Pooling and Servicing Agreement”), entered into and executed with respect
to the above-referenced transaction. All capitalized terms used but not otherwise defined herein shall have the respective meanings
set forth in the Pooling and Servicing Agreement. The Transferee hereby certifies, represents and warrants to you, as Depositor,
that:

 

1.             The Transferor
is the lawful owner of the right to receive the Excess Servicing Fees with respect to the Mortgage Loans for which _________________
is the Master Servicer (the “Excess Servicing Fee Right”), with the full right to transfer the Excess Servicing
Fee Right free from any and all claims and encumbrances whatsoever.

 

2.             Neither the Transferor
nor anyone acting on its behalf has (a) offered, transferred, pledged, sold or otherwise disposed of the Excess Servicing Fee Right,
any interest in the Excess Servicing Fee Right or any other similar security to any person in any manner, (b) solicited any offer
to buy or accept a transfer, pledge or other disposition of the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security from any person in any manner, (c) otherwise approached or negotiated with respect to the
Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security with any person in any
manner, (d) made any general solicitation with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security by means of general advertising or in any other manner, or (e) taken any other action,
which (in the case of any of the acts described in clauses (a) through (e) hereof) would constitute a distribution of the Excess
Servicing Fee Right under the Securities Act of 1933, as amended (the “Securities Act”), or would render the
disposition of the Excess Servicing Fee Right a violation of Section 5 of the Securities Act or any state securities laws, or would
require registration or qualification of the Excess Servicing Fee Right pursuant to the Securities Act or any state securities
laws.

 

    	W-1-1

    	 

    

 

	 	 	 
	 	Very truly yours,
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	W-1-2

    	 

    

 

EXHIBIT W-2

 

FORM OF TRANSFEREE CERTIFICATE

FOR TRANSFER OF THE EXCESS SERVICING FEE RIGHTS

 

[Date]

 

Deutsche Mortgage &
Asset Receiving Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

Wells Fargo Bank, National Association

   Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager

 

Re:          Deutsche Mortgage & Asset Receiving Corporation, COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through
Certificates

 

Ladies and Gentlemen:

 

This letter is delivered
to you in connection with the transfer by _________________ (the “Transferor”) to _________________ (the “Transferee”)
of the Excess Servicing Fee Right established under the Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling
and Servicing Agreement”), entered into and executed with respect to the above-referenced transaction. All capitalized
terms used but not otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement.
The Transferee hereby certifies, represents and warrants to you, as the Depositor and the Master Servicer, that:

 

1.          The Transferee
is acquiring the right to receive Excess Servicing Fees with respect to the Mortgage Loans as to which __________________ is the
applicable Master Servicer (the “Excess Servicing Fee Right”) for its own account for investment and not with
a view to or for sale or transfer in connection with any distribution thereof, in whole or in part, in any manner which would violate
the Securities Act of 1933, as amended (the “Securities Act”), or any applicable state securities laws.

 

2.          The Transferee
understands that (a) the Excess Servicing Fee Right has not been and will not be registered under the Securities Act or registered
or qualified under any applicable state securities laws, (b) none of the Depositor, the Trustee, Certificate Administrator or the
Certificate Registrar is obligated so to register or qualify the Excess Servicing Fee Right, and (c) the Excess Servicing Fee Right
may not be resold or transferred unless it is (i) registered pursuant to the Securities Act and registered or qualified pursuant
to any applicable state securities laws or (ii) sold or transferred in transactions which are exempt from such registration and
qualification and (A) the Depositor has received a certificate from the prospective transferor substantially in the form attached
as Exhibit W-1 to the Pooling and Servicing Agreement, and

 

    	W-2-1

    	 

    

 

(B)
each of the Master Servicer and the Depositor have received a certificate from the prospective transferee substantially in the
form attached as Exhibit W-2 to the Pooling and Servicing Agreement.

 

3.          The Transferee
understands that it may not sell or otherwise transfer the Excess Servicing Fee Right or any interest therein except in compliance
with the provisions of Section 3.12 of the Pooling and Servicing Agreement, which provisions it has carefully reviewed.

 

4.          Neither the Transferee
nor anyone acting on its behalf has (a) offered, pledged, sold, disposed of or otherwise transferred the Excess Servicing Fee Right,
any interest in the Excess Servicing Fee Right or any other similar security to any person in any manner, (b) solicited any offer
to buy or accept a pledge, disposition or other transfer of the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security from any person in any manner, (c) otherwise approached or negotiated with respect to the
Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security with any person in any
manner, (d) made any general solicitation with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing
Fee Right or any other similar security by means of general advertising or in any other manner, or (e) taken any other action with
respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right or any other similar security, which
(in the case of any of the acts described in clauses (a) through (e) above) would constitute a distribution of the Excess Servicing
Fee Right under the Securities Act, would render the disposition of the Excess Servicing Fee Right a violation of Section 5 of
the Securities Act or any state securities law or would require registration or qualification of the Excess Servicing Fee Right
pursuant thereto. The Transferee will not act, nor has it authorized or will it authorize any person to act, in any manner set
forth in the foregoing sentence with respect to the Excess Servicing Fee Right, any interest in the Excess Servicing Fee Right
or any other similar security.

 

5.          The Transferee
has been furnished with all information regarding (a) the Depositor, (b) the Excess Servicing Fee Right and any payments thereon,
(c) the Pooling and Servicing Agreement and the Trust Fund created pursuant thereto, (d) the nature, performance and servicing
of the Mortgage Loans, and (e) all related matters that it has requested.

 

6.          The Transferee
is (a) a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act or (b) an “accredited
investor” as defined in any of paragraphs (1), (2), (3) and (7) of Rule 501(a) under the Securities Act or an entity in which
all of the equity owners come within such paragraphs. The Transferee has such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of an investment in the Excess Servicing Fee Right; the Transferee
has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision; and the
Transferee is able to bear the economic risks of such investment and can afford a complete loss of such investment.

 

7.          The Transferee
agrees (i) to keep all information relating to the Trust, the Trust Fund and the parties to the Pooling and Servicing Agreement,
and made available to it, confidential, (ii) not to use or disclose such information in any manner which could result in a violation
of any provision of the Securities Act or would require registration of the Excess

 

    	W-2-2

    	 

    

 

Servicing
Fee Right or any Certificate pursuant to the Securities Act, and (iii) not to disclose such information, and to cause its officers,
directors, partners, employees, agents or representatives not to disclose such information, in any manner whatsoever, in whole
or in part, to any other Person other than such holder’s auditors, legal counsel and regulators, except to the extent such
disclosure is required by law, court order or other legal requirement or to the extent such information is of public knowledge
at the time of disclosure by such holder or has become generally available to the public other than as a result of disclosure
by such holder; provided, however, that such holder may provide all or any part of such information to any other Person who is
contemplating an acquisition of the Excess Servicing Fee Right if, and only if, such Person (x) confirms in writing such prospective
acquisition and (y) agrees in writing to keep such information confidential, not to use or disclose such information in any manner
which could result in a violation of any provision of the Securities Act or would require registration of the Excess Servicing
Fee Right or any Certificates pursuant to the Securities Act and not to disclose such information, and to cause its officers,
directors, partners, employees, agents or representatives not to disclose such information, in any manner whatsoever, in whole
or in part, to any other Person other than such Persons’ auditors, legal counsel and regulators.

 

8.          The Transferee
acknowledges that the holder of the Excess Servicing Fee Right shall not have any rights under the Pooling and Servicing Agreement
except as set forth in Section 3.12(a) of the Pooling and Servicing Agreement, and that the Excess Servicing Fee Rate may be reduced
to the extent provided in the Pooling and Servicing Agreement.

	 	 	 
	 	Very truly yours,
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	W-2-3

    	 

    

 

EXHIBIT X

 

FORM OF OPERATING ADVISOR ANNUAL REPORT

 

Report
Date: Report will be delivered annually no later than [INSERT DATE].

Transaction: Deutsche Mortgage & Asset Receiving Corporation, COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through
Certificates

Operating Advisor: Park Bridge Lender Services LLC

Special Servicer: CWCapital Asset Management LLC

Controlling Class Representative: Seer Capital Partners Master Fund L.P.

 

I. Executive Summary

 

Based on the requirements
and qualifications set forth in the Pooling and Servicing Agreement dated as of October 1, 2015 (the “Pooling and Servicing
Agreement”), between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells Fargo Bank, National Association,
as master servicer, CWCapital Asset Management LLC, as special servicer, Wilmington Trust, National Association, as trustee, Wells
Fargo Bank, National Association, as certificate administrator, paying agent and custodian, and Park Bridge Lender Services LLC,
as operating advisor, as well as the items listed below, the Operating Advisor has undertaken a limited review of the Special Servicer’s
operational activities in light of the Servicing Standard and the requirements of the Pooling and Servicing Agreement with respect
to the resolution and/or liquidation of the Specially Serviced Loans and provides this Operating Advisor Annual Report.

 

No information or any
other content included in this Operating Advisor Annual Report contravenes any provision of the Pooling and Servicing Agreement.
This Operating Advisor Annual Report sets forth the Operating Advisor’s assessment of the Special Servicer’s performance
of its duties under the Pooling and Servicing Agreement during the prior calendar year on a platform-level basis with respect to
the resolution and liquidation of Specially Serviced Loans during the prior calendar year.

 

Subject to the restrictions
in the Pooling and Servicing Agreement, this Operating Advisor Annual Report (A) identifies any material deviations, if any (i)
from the Servicing Standard and (ii) from the Special Servicer’s obligations under the Pooling and Servicing Agreement with
respect to the resolution or liquidation of Specially Serviced Loans and (B) complies with all of the confidentiality requirements
described in the Pooling and Servicing Agreement.

 

In connection with
the assessment set forth in this report, the Operating Advisor:

 

		1.	Reviewed any annual compliance statement delivered to the Operating Advisor pursuant to Section
10.11 the Pooling and Servicing Agreement and the following issues were noted therein: [ ]

 

Operating Advisor Actions:

 

    	X-1

    	 

    

 

		2.	Reviewed any annual independent public accountants’ servicing report delivered to the Operating
Advisor pursuant to Section 10.13 of the Pooling and Servicing Agreement and the following issues were noted therein: [ ]

 

Operating Advisor Actions:

 

		3.	Reviewed any [Final] Asset Status Report and other information or communications delivered to the
Operating Advisor and the following issues were noted therein: [ ]

 

Operating Advisor Actions:

 

Based on such review
and/or consultation with the Special Servicer and performance of the other obligations of the Operating Advisor under the Pooling
and Servicing Agreement, the Operating Advisor [does, does not] believe there are material violations of the Special Servicer’s
compliance with its obligations under the Pooling and Servicing Agreement.

 

Terms used but not
defined herein have the meaning set forth in the Pooling and Servicing Agreement as described herein.

	 	 	 
	 	PARK BRIDGE LENDER SERVICES LLC
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	X-2

    	 

    

 

EXHIBIT Y

 

FORM OF SARBANES-OXLEY CERTIFICATION

 

COMM
2015-CCRE26 Mortgage Trust (the “Trust”)

 

I, [identify the certifying
individual], certify that:

 

1.          I have
reviewed this report on Form 10-K and all reports on Form 10-D required to be filed in respect of the period covered by this report
on Form 10-K of the Trust (the ‘Exchange Act periodic reports”);

 

2.          Based
on my knowledge, the Exchange Act periodic reports, taken as a whole, do not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report;

 

3.          Based
on my knowledge, all of the distribution, servicing and other information required to be provided under Form 10-D for the period
covered by this report is included in the Exchange Act periodic reports;

 

4.          Based
on my knowledge and the servicer compliance statements required in this report under Item 1123 of Regulation AB, and except as
disclosed in the Exchange Act periodic reports, the servicers have fulfilled their obligations under the servicing agreements in
all material respects; and

 

5.          All
of the reports on assessment of compliance with servicing criteria for asset-backed securities and their related attestation reports
on assessment of compliance with servicing criteria for asset-backed securities required to be included in this report in accordance
with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an exhibit to this report, except
as otherwise disclosed in this report. Any material instances of noncompliance described in such reports have been disclosed in
this report on Form 10-K.

 

    	Y-1

    	 

    

 

In giving the certifications above, I have
reasonably relied on information provided to me by the following unaffiliated parties: Wells Fargo Bank, National Association,
CWCapital Asset Management LLC, Park Bridge Lender Services LLC, Wilmington Trust, National Association and [list any sub-servicers].

 

Date:________________

	 	 	 
	 	DEUTSCHE MORTGAGE & ASSET RECEIVING CORPORATION
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Y-2

    	 

    

 

EXHIBIT Z

 

ADDITIONAL DISCLOSURE NOTIFICATION

 

**SEND VIA FAX TO (410) 715-2380 AND VIA
EMAIL TO cts.sec.notifications@wellsfargo.com AND [_____] AND VIA OVERNIGHT MAIL TO THE ADDRESSES IMMEDIATELY BELOW**

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services – COMM 2015-CCRE26

 

Deutsche Mortgage & Asset Receiving Corporation,

as Depositor

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

		Re:	**Additional Form [10-D][10-K][8-K] Disclosure Required **

 

Ladies and Gentlemen:

 

In
accordance with Section [10.06][10.07][10.09] of the Pooling and Servicing Agreement, dated as of October 1, 2015 (the “Pooling
and Servicing Agreement”), entered into between Deutsche Mortgage & Asset Receiving Corporation, as depositor, Wells
Fargo Bank, National Association, as master servicer (in such capacity, the “Master Servicer”), CWCapital Asset
Management LLC, as special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating
advisor, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank, National Association, as certificate administrator
(in such capacity, the “Certificate Administrator”), paying agent and custodian, the undersigned, as____________, hereby
notifies you that certain events have come to our attention that [will] [may] need to be disclosed on Form [10-D][10-K][8-K].

 

Description of Additional Form [10-D][10-K][8-K]
Disclosure:

 

    	Z-1

    	 

    

 

List of any Attachments hereto to be included
in the Additional Form [10-D][10-K][8-K] Disclosure:

 

Any inquiries related to this notification
should be directed to _____________, phone number: _____________; email address: _____________.

	 	 	 
	 	[NAME OF PARTY], as [role]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	Z-2

    	 

    

 

EXHIBIT AA

 

FORM OF SUB-SERVICER BACKUP CERTIFICATION

 

COMM
2015-CCRE26 Mortgage Trust (the “Trust”)

 

As
contemplated by Section 10.08 of that certain Pooling and Servicing Agreement dated as of October 1, 2015 (the
“Pooling and Servicing Agreement”), entered into between Deutsche Mortgage & Asset Receiving
Corporation, as depositor, Wells Fargo Bank, National Association, as master servicer (in such capacity, the “Master
Servicer”), CWCapital Asset Management LLC, as special servicer (the “Special Servicer”), Park
Bridge Lender Services LLC, as operating advisor, Wilmington Trust, National Association, as trustee, and Wells Fargo Bank,
National Association, as certificate administrator (in such capacity, the “Certificate
Administrator”), paying agent and custodian, [identify the certifying individual], a _____________ of
_____________, a _____________ [corporation] (the “Sub-Servicer”) as Sub-Servicer in connection with the
sub-servicing of one or more Mortgage Loans and/or Serviced Companion Loan under the Pooling and Servicing Agreement, on
behalf of the Sub-Servicer, certify to [Name of Each Certifying Person for Sarbanes-Oxley Certification], the Depositor, the
Master Servicer and their officers, directors and affiliates, and with the knowledge and intent that they will rely upon this
certification, that:

 

		1.	I have reviewed the Servicer Reports and Sub-Servicer Reports (each as defined below) relating
to the Mortgage Loans and/or Serviced Companion Loan delivered by the Sub-Servicer to the Master Servicer, pursuant to the Sub-Servicing
Agreement dated [___________], 20[__] by and between the Sub-Servicer and the Master Servicer (the “Sub-Servicing Agreement”);

 

		2.	Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant
Period”), all servicing information and all reports required to be submitted by the Sub-Servicer to the Certificate Administrator
pursuant to the Pooling and Servicing Agreement (the “Servicer Reports”) for inclusion in the annual report
on Form 10-K for the Relevant Period and inclusion in all reports on Form 10-D or Form 8-K have been submitted by the Sub-Servicer
to the Certificate Administrator for inclusion in these reports;

 

		3.	Based on my knowledge, with respect to the Relevant Period, all servicing information and all reports
required to be submitted by the Sub-Servicer to the Master Servicer pursuant to the Sub-Servicing Agreement (the “Sub-Servicer
Reports”) have been submitted by the Sub-Servicer to the Master Servicer;

 

		4.	Based on my knowledge, the sub-servicer information contained in the Servicer Reports and Sub-Servicer
Reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to
the period covered by these reports;

 

    	AA-1

    	 

    

 

		5.	Based upon my knowledge and the annual compliance review performed as required under Section [__]
of the Sub-Servicing Agreement, and except as disclosed in the compliance certificate delivered pursuant to Section [__] of the
Sub-Servicing Agreement, the Sub-Servicer has fulfilled its obligations under the Sub-Servicing Agreement in all material respects;

 

		6.	[I am, or a servicing officer under my supervision is, responsible for reviewing the activities
performed by the Sub-Servicer under the Sub-Servicing Servicing Agreement and based upon my knowledge and the annual compliance
reviews conducted in preparing the servicer compliance statements for inclusion on Form 10-K pursuant Item 1123 of Regulation AB
with respect to the Sub-Servicer, and except as disclosed in the compliance certificate delivered by the Sub-Servicer under Section
[__] of the Sub-Servicing Agreement, the Sub-Servicer has fulfilled its obligations under the Sub-Servicing Agreement in all material
respects in the year which such report applies];

 

		7.	The accountants that are to deliver the annual attestation report on assessment of compliance with
the Relevant Servicing Criteria in respect of the Sub-Servicer with respect to the Trust’s fiscal year _____ have been provided
all information relating to the Sub-Servicer’s assessment of compliance with the Relevant Servicing Criteria, in order to
enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the PCAOB; and

 

		8.	The report on assessment of compliance with servicing criteria applicable to the Sub-Servicer for
asset-backed securities with respect to the Sub-Servicer or any Servicing Function Participant retained by the Sub-Servicer and
related attestation report on assessment of compliance with servicing criteria applicable to it required to be included in the
annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18
and 15d-18 has been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form 10-K.
Any material instances of noncompliance described in such reports have been provided to the Certificate Administrator and the Depositor
for disclosure in such annual report on Form 10-K.

 

Capitalized terms used but not defined herein
have the meanings set forth in the Sub-Servicing Agreement, or if not defined in the Sub-Servicing Agreement, then the meanings
set forth in the Pooling and Servicing Agreement.

 

Date:          ________________

	 	 	 
	 	[INSERT NAME OF SUB-SERVICER]
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	AA-2

    	 

    

 

EXHIBIT BB

 

FORM OF OPERATING ADVISOR BACKUP CERTIFICATION

 

COMM 2015-CCRE26 Mortgage Trust (the
“Trust”)

 

		1.	Based on my knowledge, with respect to the period ending [December 31, 20__] (the “Relevant
Period”), all information required to be submitted by the Operating Advisor to the Master Servicer, the Depositor, Trustee
or Certificate Administrator, as applicable, pursuant to the Pooling and Servicing Agreement for inclusion in the annual report
on Form 10-K for the Relevant Period and inclusion in all reports on Form 10-D or Form 8-K (the “Operating Advisor Reports”)
have been submitted by the Operating Advisor to the Master Servicer, the Depositor, the Trustee or the Certificate Administrator,
as applicable, for inclusion in these reports;

 

		2.	Based on my knowledge, the operating advisor information contained in the Operating Advisor Reports,
taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by these reports;

 

		3.	The accountants that are to deliver the annual attestation report on assessment of compliance with
the Relevant Servicing Criteria in respect of the Operating Advisor with respect to the Trust’s fiscal year ________ have
been provided all information relating to the Operating Advisor’s assessment of compliance with the Relevant Servicing Criteria,
in order to enable them to conduct a review in compliance with the standards for attestation engagements issued or adopted by the
PCAOB; and

 

		4.	The report on assessment of compliance with servicing criteria applicable to the Operating Advisor
for asset-backed securities with respect to the Operating Advisor or any Servicing Function Participant retained by the Operating
Advisor and related attestation report on assessment of compliance with servicing criteria applicable to it required to be included
in the annual report on Form 10-K for the Relevant Period in accordance with Item 1122 of Regulation AB and Exchange Act Rules
13a-18 and 15d-18 has been provided to the Depositor and to the Certificate Administrator for inclusion as an exhibit to such Form
10-K. Any material instances of noncompliance described in such reports have been provided to the Certificate Administrator and
the Depositor for disclosure in such annual report on Form 10-K.

 

    	BB-1

    	 

    

 

Capitalized terms used but not defined
herein have the meanings set forth in the Pooling and Servicing Agreement.

 

Date:          ________________

	 	 	 	 	 
	 	PARK BRIDGE LENDER SERVICES LLC
	 	 	 
	 	By:	Park Bridge Advisors LLC
	 	 	Its Sole Member
	 	 	 
	 	 	By:	Park Bridge Financial LLC
	 	 	 	Its Sole Member
	 	 	 
	 	By:	 	 
	 	Name:
	 	Title:

 

    	BB-2

    	 

    

 

EXHIBIT CC-1 

 

FORM OF POWER OF ATTORNEY BY TRUSTEE

FOR MASTER SERVICER 

 

RECORDING REQUESTED BY:

 

Wells Fargo Bank, National Association

Commercial Mortgage
Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager

 

	 

SPACE ABOVE THIS LINE FOR RECORDER’S
USE

 

LIMITED POWER OF ATTORNEY

 

KNOW
ALL MEN BY THESE PRESENTS, that Wilmington Trust, National Association, a national banking association, incorporated and existing
under the laws of the United States, having its usual place of business at 1100 North Market Street, Wilmington, Delaware 19890,
as Trustee (the “Trustee”) pursuant to that Pooling and Servicing Agreement dated as of October 1, 2015 (the
“Agreement”) entered into between Deutsche Mortgage & Asset Receiving Corporation, as depositor (the
“Depositor”), Wells Fargo Bank, National Association, as master servicer (in such capacity, the “Master
Servicer”), CWCapital Asset Management LLC, as special servicer, Park Bridge Lender Services LLC, as operating advisor,
Wells Fargo Bank, National Association, as certificate administrator, paying agent and custodian, and Wilmington Trust, National
Association, as Trustee, relating to the COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass Through Certificates, and the
Trustee hereby constitutes and appoints the Master Servicer, by and through the Master Servicer’s officers, the Trustee’s
true and lawful Attorney-in-Fact, in the Trustee’s name, place and stead and for the Trustee’s benefit, in connection
with all mortgage loans (the “Mortgage Loans”) serviced by the Master Servicer and all properties (“Properties”)
administered by the Master Servicer pursuant to the Agreement, to execute and acknowledge in writing or by facsimile stamp all
documents customarily and reasonably necessary and appropriate to effectuate the enumerated transactions described in items 1 through
12 below with respect to the Mortgage Loans and Properties; provided however, that the documents described below may only be executed
and delivered by such Attorneys-in-Fact if such documents are required or permitted under the Agreement. Capitalized terms used
herein and not otherwise defined herein have the meanings set forth in the Agreement.

 

		1.	The endorsement on behalf of the Trustee of all checks, drafts and/or other negotiable instruments made payable to the Trustee
and draw upon, replace, substitute, release or amend letters of credit standing as collateral securing any Mortgage Loan.

 

    	CC-1-1

    	 

    

 

		2.	The modification or re-recording of a Mortgage or deed of trust, where said modification or re-recording is solely for the
purpose of correcting the Mortgage or deed of trust to conform same to the original intent of the parties thereto or to correct
title errors discovered after such title insurance was issued; provided that (i) said modification or re-recording, in either instance,
does not adversely affect the lien of the Mortgage or deed of trust as insured and (ii) otherwise conforms to the provisions of
the Agreement.

 

		3.	The subordination of the lien of a Mortgage or deed of trust to an easement in favor of a public utility company of a government
agency or unit with powers of eminent domain; this section shall include, without limitation, the execution of partial satisfactions/releases,
partial reconveyances or the execution or requests to trustees to accomplish same.

 

		4.	The conveyance of the properties to the mortgage insurer, or the closing of the title to the property to be acquired as real
estate owned, or conveyance of title to real estate owned.

 

		5.	The completion of loan assumption agreements.

 

		6.	The full satisfaction/release of a Mortgage or deed of trust or full conveyance upon payment and discharge of all sums secured
thereby, including, without limitation, cancellation of the related Mortgage Note.

 

		7.	The assignment of any Mortgage or deed of trust and the related Mortgage Note, in connection with the repurchase of the mortgage
loan secured and evidenced thereby.

 

		8.	The full assignment of a Mortgage or deed of trust upon payment and discharge of all sums secured thereby in conjunction with
the refinancing thereof, including, without limitation, the assignment of the related Mortgage Note.

 

		9.	The full enforcement of and preservation of the Trustee’s interests in the Mortgage Notes, Mortgages or deeds of trust,
and in the proceeds thereof, by way of, including but not limited to, foreclosure, the taking of a deed in lieu of foreclosure,
or the completion of judicial or non-judicial foreclosure or the termination, cancellation or rescission of any such foreclosure,
the initiation, prosecution and completion of eviction actions or proceedings with respect to, or the termination, cancellation
or rescission of any such eviction actions or proceedings, and the pursuit of title insurance, hazard insurance and claims in bankruptcy
proceedings, including, without limitation, any and all of the following acts:

 

		a.	the substitution of trustee(s) serving under a deed of trust, in accordance with state law and the
deed of trust;

 

		b.	the preparation and issuance of statements of breach or non-performance;

 

		c.	the preparation and filing of notices of default and/or notices of sale;

 

		d.	the cancellation/rescission of notices of default and/or notices of sale;

 

    	CC-1-2

    	 

    

 

		e.	the taking of deed in lieu of foreclosure;

 

		f.	the filing, prosecution and defense of claims, and to appear on behalf of the Trustee, in bankruptcy
cases affecting Mortgage Notes, Mortgages or deeds of trust;

 

		g.	the preparation and service of notices to quit and all other documents necessary to initiate, prosecute
and complete eviction actions or proceedings;

 

		h.	the tendering, filing, prosecution and defense, as applicable, of hazard insurance and title insurance
claims, including but not limited to appearing on behalf of the Trustee in quiet title actions; and

 

		i.	the preparation and execution of such other documents and performance of such other actions as may
be necessary under the terms of the Mortgage, deed of trust or state law to expeditiously complete said transactions in paragraphs
9.a. through 9.h. above.

 

		10.	With respect to the sale of property acquired through a foreclosure or deed-in lieu of foreclosure, including, without limitation,
the execution of the following documentation:

 

		a.	listing agreements;

 

		b.	purchase and sale agreements;

 

		c.	grant/warranty/quit claim deeds or any other deed causing the transfer of title of the property to a party contracted
to purchase same;

 

		d.	escrow instructions; and

 

		e.	any and all documents necessary to effect the transfer of property.

  

		11.	The modification or amendment of escrow agreements established for repairs to the mortgaged property or reserves for replacement
of personal property.

 

		12.	The execution and delivery of the following:

 

		a.	any and all financing statements, continuation statements and other documents or instruments necessary
to maintain the lien created by the Mortgage, deed of trust or other security document in the related Mortgage File or the related
Mortgaged Property and other related collateral;

 

		b.	any and all instruments of satisfaction or cancellation, or of partial or full release or discharge,
or of partial or full defeasance, and all other comparable instruments; and

 

		c.	any and all assumptions, modifications, waivers, substitutions, extensions, amendments, consents to
transfers of interests in borrowers, consents to any subordinate financings to be secured by any related Mortgaged Property, consents
to 

 

    	CC-1-3

    	 

    

 

		 	any mezzanine financing to be secured by the ownership interests in a borrower, consents to and monitoring of the application
of any proceeds of insurance policies or condemnation awards to the restoration of the related Mortgaged Property or otherwise,
documents relating to the management, operation, maintenance, repair, leasing and marketing of the related Mortgaged Properties
(including agreements and requests by any borrower with respect to modifications of the standards of operation and management of
such Mortgaged Properties or the replacement of asset managers), documents exercising any or all of the rights, powers and privileges
granted or provided to the holder of any Mortgage Loan under the related loan documents, lease subordination agreements, non-disturbance
and attornment agreements or other leasing or rental arrangements, any easements, covenants, conditions, restrictions, equitable
servitudes, or land use or zoning requirements with respect to the Mortgaged Properties, instruments relating to the custody of
any collateral that now secures or hereafter may secure any Mortgage Loan and any other consents.

 

The undersigned gives said Attorney-in-Fact
full power and authority to execute such instruments and to do and perform all and every act and thing necessary and proper to
carry into effect the power or powers granted by or under this Limited Power of Attorney as fully as the undersigned might or could
do, and hereby does ratify and confirm to all that said Attorney-in-Fact shall be effective as of the date set forth below.

 

This appointment is to be construed and
interpreted as a limited power of attorney. The enumeration of specific items, rights, acts or powers herein is not intended to,
nor does it give rise to, and it is not to be construed as a general power of attorney.

 

Solely to the extent that the Master Servicer
has the power to delegate its rights or obligations under the Agreement, the Master Servicer also has the power to delegate the
authority given to it by Wilmington Trust, National Association, as Trustee, under this Limited Power of Attorney, for purposes
of performing its obligations and duties by executing such additional powers of attorney in favor of its attorneys-in-fact as are
necessary for such purpose. The Master Servicer’s attorneys-in-fact shall have no greater authority than that held by the
Master Servicer.

 

Nothing contained herein shall: (i) limit
in any manner any indemnification provided to the Trustee under the Agreement, (ii) limit in any manner the rights and protections
afforded the Trustee under the Agreement, or (iii) be construed to grant the Master Servicer the power to initiate or defend any
suit, litigation or proceeding in the name of Wilmington Trust, National Association except as specifically provided for herein.
If the Master Servicer receives any notice of suit, litigation or proceeding in the name of Wilmington Trust, National Association,
then the Master Servicer shall promptly forward a copy of same to the Trustee.

 

This limited power of attorney is not intended
to extend the powers granted to the Master Servicer under the Agreement or to allow the Master Servicer to take any action with
respect to Mortgages, deeds of trust or Mortgage Notes not authorized by the Agreement.

 

    	CC-1-4

    	 

    

 

The Master Servicer hereby agrees to indemnify
and hold the Trustee and its directors, officers, employees and agents harmless from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred
by reason or result of the negligent use, or negligent or willful misuse, of this Limited Power of Attorney by the Master Servicer.
The foregoing indemnity shall survive the termination of this Limited Power of Attorney and the Agreement or the earlier resignation
or removal of the Trustee under the Agreement.

 

This Limited Power of Attorney is entered
into and shall be governed by the laws of the State of New York, without regard to conflicts of law principles of such state.

 

Third parties without actual notice may
rely upon the exercise of the power granted under this Limited Power of Attorney; and may be satisfied that this Limited Power
of Attorney shall continue in full force and effect and has not been revoked unless an instrument of revocation has been made in
writing by the undersigned.

 

IN WITNESS WHEREOF, Wilmington Trust, National
Association, as Trustee for COMM 2015-CCRE26 has caused its corporate seal to be hereto affixed and these presents to be signed
and acknowledged in its name and behalf by a duly elected and authorized signatory this ___________ day of ____________.

 

Wilmington Trust, National Association,

as Trustee for COMM 2015-CCRE26

	 	 	 	 	 
	 	 	By:	 	 
	 	 	 	Name:	 
	 	 	 	Title:	 
	 	 	 	 	 
	Prepared by:	 	 	 	 
	 	 	 	 	 
	 	 	 	Name:	 
	 	 	 	 	 
	 	 	 	 	 
	Witness:	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	Witness:	 	 	 	 
	 	 	 	 	 

 

    	CC-1-5

    	 

    

 

State of Delaware}

County of           }

 

On ________________________,
before me,

_________________________________Notary Public, personally appeared 

___________________________, who proved to me on
the basis of

satisfactory evidence to be the person
whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacity
and that by his/her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

 

I certify under PENALTY OF PERJURY under
the laws of the State of Delaware that the foregoing paragraph is true and correct.

Witness my hand and official seal.

 

	Notary signature 	 

 

    	CC-1-6

    	 

    

 

EXHIBIT CC-2

 

FORM OF POWER OF ATTORNEY BY TRUSTEE

FOR SPECIAL SERVICER 

 

RECORDING REQUESTED BY:

 

CWCapital Asset Management LLC

7501 Wisconsin Avenue, Suite 500 West

Bethesda, Maryland 20814

Attention:
Brian Hanson (COMM 2015-CCRE26) 

	 

SPACE ABOVE THIS LINE FOR RECORDER’S
USE

 

LIMITED POWER OF ATTORNEY

 

KNOW
ALL MEN BY THESE PRESENTS, that Wilmington Trust, National Association, a national banking association, incorporated and existing
under the laws of the United States, having its usual place of business at 1100 North Market Street, Wilmington, Delaware 19890,
as Trustee (the “Trustee”) pursuant to that Pooling and Servicing Agreement dated as of October 1, 2015 (the
“Agreement”) entered into between Deutsche Mortgage & Asset Receiving Corporation, as depositor (the
“Depositor”), Wells Fargo Bank, National Association, as master servicer, CWCapital Asset Management LLC, as
special servicer (the “Special Servicer”), Park Bridge Lender Services LLC, as operating advisor, Wells Fargo
Bank, National Association, as certificate administrator, paying agent and custodian, and Wilmington Trust, National Association,
as Trustee, relating to the COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass Through Certificates, and the Trustee hereby
constitutes and appoints the Special Servicer, by and through the Special Servicer’s officers, the Trustee’s true and
lawful Attorney-in-Fact, in the Trustee’s name, place and stead and for the Trustee’s benefit, in connection with all
mortgage loans (the “Mortgage Loans”) serviced by the Special Servicer and all properties (“REO Properties”)
administered by the Special Servicer pursuant to the Agreement, to execute and acknowledge in writing or by facsimile stamp all
documents customarily and reasonably necessary and appropriate to effectuate the enumerated transactions described in items 1 through
12 below with respect to the Mortgage Loans and REO Properties; provided however, that the documents described below may only be
executed and delivered by such Attorneys-in-Fact if such documents are required or permitted under the Agreement. Capitalized terms
used herein and not otherwise defined herein have the meanings set forth in the Agreement.

 

		1.	The endorsement on behalf of the Trustee of all checks, drafts and/or other negotiable instruments made payable to the Trustee
and draw upon, replace, substitute, release or amend letters of credit standing as collateral securing any Mortgage Loan.

 

		2.	The modification or re-recording of a Mortgage or deed of trust, where said modification or re-recording is solely for the
purpose of correcting such Mortgage or deed of trust to conform same to the original intent of the parties thereto or to correct
title errors discovered after such 

 

    	CC-2-1

    	 

    

 

		 	title insurance was issued; provided that (i) said modification or re-recording, in either instance,
does not adversely affect the lien of the Mortgage or deed of trust as insured and (ii) otherwise conforms to the provisions of
the Agreement.

 

		3.	The subordination of the lien of a Mortgage or deed of trust to an easement in favor of a public utility company of a government
agency or unit with powers of eminent domain; this section shall include, without limitation, the execution of partial satisfactions/releases,
partial reconveyances or the execution or requests to trustees to accomplish same.

 

		4.	The conveyance of any property to the mortgage insurer, or the closing of the title to any mortgaged property (a “Mortgaged
Property”) to be acquired as REO Property, or conveyance of title to any REO Property.

 

		5.	The completion of loan assumption agreements.

  

		6.	The full satisfaction/release of a Mortgage or deed of trust or full conveyance upon payment and discharge of all sums secured
thereby, including, without limitation, cancellation of the related promissory note.

  

		7.	The assignment of any Mortgage or deed of trust and the related promissory note, in connection with the repurchase of the Mortgage
Loan secured and evidenced thereby.

 

		8.	The full assignment of a Mortgage or deed of trust upon payment and discharge of all sums secured thereby in conjunction with
the refinancing thereof, including, without limitation, the assignment of the related promissory note.

 

		9.	The full enforcement of and preservation of the Trustee’s interests in any Mortgage or the related promissory note or
deeds of trust, and in the proceeds thereof, by way of, including but not limited to, foreclosure, the taking of a deed-in-lieu
of foreclosure, or the completion of judicial or non-judicial foreclosure or the termination, cancellation or rescission of any
such foreclosure, the initiation, prosecution and completion of eviction actions or proceedings with respect to, or the termination,
cancellation or rescission of any such eviction actions or proceedings, and the pursuit of title insurance, hazard insurance and
claims in bankruptcy proceedings, including, without limitation, any and all of the following acts:

 

		a.	the substitution of trustee(s) serving under a deed of trust, in accordance with state law and the
deed of trust;

 

		b.	the preparation and issuance of statements of breach or non-performance;

 

		c.	the preparation and filing of notices of default and/or notices of sale;

 

		d.	the cancellation/rescission of notices of default and/or notices of sale;

 

		e.	the taking of a deed-in-lieu of foreclosure;

 

    	CC-2-2

    	 

    

 

		f.	the filing, prosecution and defense of claims, and to appear on behalf of the Trustee, in bankruptcy
cases affecting any Mortgage or the related promissory note or deeds of trust;

 

		g.	the preparation and service of notices to quit and all other documents necessary to initiate, prosecute
and complete eviction actions or proceedings;

 

		h.	the tendering, filing, prosecution and defense, as applicable, of hazard insurance and title insurance
claims, including but not limited to appearing on behalf of the Trustee in quiet title actions; and

 

		i.	the preparation and execution of such other documents and performance of such other actions as may
be necessary under the terms of the Mortgage, deed of trust or state law to expeditiously complete said transactions in paragraphs
9.a. through 9.h. above.

 

		10.	With respect to the sale of property acquired through a foreclosure or deed-in lieu of foreclosure, including, without limitation,
the execution of the following documentation:

 

		a.	listing agreements;

 

		b.	purchase and sale agreements;

 

		c.	grant/warranty/quit claim deeds or any other deed causing the transfer of title of the property to a party contracted
to purchase same;

 

		d.	escrow instructions; and

 

		e.	any and all documents necessary to effect the transfer of property.

 

		11.	The modification or amendment of escrow agreements established for repairs to the Mortgaged Property or reserves for replacement
of personal property.

 

		12.	The execution and delivery of the following:

 

		a.	any and all financing statements, continuation statements and other documents or instruments necessary
to maintain the lien created by the Mortgage, deed of trust or other security document in the related Mortgage File or the related
Mortgaged Property and other related collateral;

 

		b.	any and all instruments of satisfaction or cancellation, or of partial or full release or discharge,
or of partial or full defeasance, and all other comparable instruments; and

 

		c.	any and all assumptions, modifications, waivers, substitutions, extensions, amendments, consents to
transfers of interests in borrowers, consents to any subordinate financings to be secured by any related Mortgaged Property, consents
to any mezzanine financing to be secured by the ownership interests in a borrower, 

 

    	CC-2-3

    	 

    

 

		 	consents to and monitoring of the application
of any proceeds of insurance policies or condemnation awards to the restoration of the related Mortgaged Property, REO Property
or otherwise, documents relating to the management, operation, maintenance, repair, leasing and marketing of the related Mortgaged
Properties (including agreements and requests by any borrower with respect to modifications of the standards of operation and management
of such Mortgaged Properties or the replacement of asset managers) or REO Properties, documents exercising any or all of the rights,
powers and privileges granted or provided to the holder of any Mortgage Loan under the related loan documents, lease subordination
agreements, non-disturbance and attornment agreements or other leasing or rental arrangements, any easements, covenants, conditions,
restrictions, equitable servitudes, or land use or zoning requirements with respect to the Mortgaged Properties or REO Properties,
instruments relating to the custody of any collateral that now secures or hereafter may secure any Mortgage Loan and any other
consents.

 

The undersigned gives said Attorney-in-Fact
full power and authority to execute such instruments and to do and perform all and every act and thing necessary and proper to
carry into effect the power or powers granted by or under this Limited Power of Attorney as fully as the undersigned might or could
do, and hereby does ratify and confirm to all that said Attorney-in-Fact shall be effective as of the date set forth below.

  

This appointment is to be construed and
interpreted as a limited power of attorney. The enumeration of specific items, rights, acts or powers herein is not intended to,
nor does it give rise to, and it is not to be construed as a general power of attorney.

  

Solely to the extent that the Special Servicer
has the power to delegate its rights or obligations under the Agreement, the Special Servicer also has the power to delegate the
authority given to it by Wilmington Trust, National Association, as Trustee, under this Limited Power of Attorney, for purposes
of performing its obligations and duties by executing such additional powers of attorney in favor of its attorneys-in-fact as are
necessary for such purpose. The Special Servicer’s attorneys-in-fact shall have no greater authority than that held by the
Special Servicer.

  

Nothing contained herein shall: (i) limit
in any manner any indemnification provided to the Trustee under the Agreement, (ii) limit in any manner the rights and protections
afforded the Trustee under the Agreement, or (iii) be construed to grant the Special Servicer the power to initiate or defend any
suit, litigation or proceeding in the name of Wilmington Trust, National Association except as specifically provided for herein.
If the Special Servicer receives any notice of suit, litigation or proceeding in the name of Wilmington Trust, National Association,
then the Special Servicer shall promptly forward a copy of same to the Trustee.

 

This limited power of attorney is not intended
to extend the powers granted to the Special Servicer under the Agreement or to allow the Special Servicer to take any action with
respect to Mortgages, deeds of trust or the related promissory notes not authorized by the Agreement.

  

The Special Servicer hereby agrees to indemnify
and hold the Trustee and its directors, officers, employees and agents harmless from and against any and all liabilities, obligations,
losses,

 

    	CC-2-4

    	 

    

 

damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever incurred
by reason or result of the negligent use, or negligent or willful misuse, of this Limited Power of Attorney by the Special Servicer.
The foregoing indemnity shall survive the termination of this Limited Power of Attorney and the Agreement or the earlier resignation
or removal of the Trustee under the Agreement.

  

This Limited Power of Attorney is entered
into and shall be governed by the laws of the State of New York, without regard to conflicts of law principles of such state.

 

Third parties without actual notice may
rely upon the exercise of the power granted under this Limited Power of Attorney; and may be satisfied that this Limited Power
of Attorney shall continue in full force and effect and has not been revoked unless an instrument of revocation has been made in
writing by the undersigned.

 

IN WITNESS WHEREOF, Wilmington Trust, National
Association, as Trustee for COMM 2015-CCRE26 has caused its corporate seal to be hereto affixed and these presents to be signed
and acknowledged in its name and behalf by a duly elected and authorized signatory this ___________ day of ____________.

 

Wilmington Trust, National Association,

as Trustee for COMM 2015-CCRE26

	 	 	 	 	 
	 	 	By:	 	 
	 	 	 	Name:	 
	 	 	 	Title:	 
	 	 	 	 	 
	Prepared by:	 	 	 	 
	 	 	 	 	 
	 	 	 	Name:	 
	 	 	 	 	 
	 	 	 	 	 
	Witness:	 	 	 	 
	 	 	 	 	 	 

 

    	CC-2-5

    	 

    

 

	Witness:	 	 	 	 
	 	 	 	 	 	 

 

    	CC-2-6

    	 

    

 

State of Delaware} 

County of } 

On ________________________,
before me,

_________________________________Notary Public, personally appeared 

___________________________, who proved to me on
the basis of

satisfactory evidence to be the person whose
name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her authorized capacity
and that by his/her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument.

 

I certify under PENALTY OF PERJURY under
the laws of the State of Delaware that the foregoing paragraph is true and correct.

Witness my hand and official seal.

 

	Notary signature 	 

 

    	CC-2-7

    	 

    

 

EXHIBIT DD

 

FORM OF NON-SERVICED MORTGAGE LOAN NOTIFICATION

 

[Other Servicer]

[ADDRESS]

 

[Other Special Servicer]

[ADDRESS]

 

[Other Trustee]

[ADDRESS]

 

The trust fund formed in
connection with the issuance of the COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates (the “Trust
Fund”) is the Note [__] Holder, as such term is defined under the Agreement between Noteholders, dated as of [__], between
[__], as each of the [__] Holder and the [__] Holder (the “[__] Intercreditor Agreement”). In connection with
the deposit of the Note [__] of the [__] Loan Combination into the Trust Fund, attached is an executed copy of the related pooling
and servicing agreement (the “Pooling and Servicing Agreement”). This Notice is being delivered to you pursuant
to Section 3.27(f) of the Pooling and Servicing Agreement. Capitalized terms used but not defined herein have the respective meanings
ascribed to such terms in the Pooling and Servicing Agreement or, if not defined therein, in the [__] Intercreditor Agreement.
Contact information for the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Directing Holder
and the Rating Agencies are as set forth on Schedule I attached here.

 

The
[__] Loan Combination is being serviced pursuant to the terms of a pooling and servicing agreement dated [_], between [__], as
depositor, [__], as master servicer, [__], as special servicer, [__], as operating advisor, and [__], as certificate administrator
and trustee (the “Other Pooling and Servicing Agreement”). Wells Fargo Bank, National Association, as
certificate administrator for the registered holders of the Trust Fund, hereby directs the applicable parties to the Other Pooling
and Servicing Agreement as follows:

 

(i)           [__],
as master servicer under the Other Pooling and Servicing Agreement, shall remit no later than one (1) Business Day after the Determination
Date all amounts payable in accordance with the [__] Intercreditor Agreement and the Other Pooling and Servicing Agreement due
to the Note [__] Holder of the [__] Loan Combination on such days as specified in the Other Pooling and Servicing Agreement to
[__], as master servicer of the Trust Fund, to the collection account set forth on Schedule II attached hereto in accordance
with the terms of the Other Pooling and Servicing Agreement; and

 

(ii)          [other
Master Servicer] and [other Certificate Administrator], as applicable, shall forward, deliver or otherwise make available, as the
case may be, all reports, statements, documents, communications and other information that are to be forwarded,

 

    	DD-1

    	 

    

 

delivered
or otherwise made available to the holder of Note [__] of the [__] Loan Combination in accordance with the [__] Intercreditor
Agreement and the Other Pooling and Servicing Agreement to Wells Fargo Bank, National Association, as master servicer of
the Trust Fund, no later than one (1) Business Day after the Determination Date.

 

You are advised that
the Trust is subject to Regulation AB and Exchange Act reporting. This notification serves as notice of request for delivery of
all Exchange Act reporting items deliverable to us pursuant to the terms of the Other Pooling and Servicing Agreement.

 

Thank you for your attention
to this matter.

	 	 	 
	 	Wells
Fargo Bank, National Association, as Certificate Administrator for the Holders of the COMM 2015-CCRE26 Mortgage Trust Commercial
Mortgage Pass-Through Certificates
	 	 	 
	 	By:	 
	 	 	   [Name]
	 	 	   [Title]

 

    	DD-2

    	 

    

 

SCHEDULE I

TO FORM OF NOTICE FROM THE CERTIFICATE
ADMINISTRATOR

REGARDING THE [[_]LOAN COMBINATION],
[[_]LOAN COMBINATION] AND [[_] LOAN COMBINATION]

 

Deutsche Mortgage & Asset Receiving Corporation

60 Wall Street

New York, New York, 10005

Attention: Lainie Kaye

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services — COMM 2015-CCRE26

 

Wilmington
Trust, National Association

1100 North Market Street

Wilmington, Delaware 19890

Attention: CMBS Trustee – COMM 2015-CCRE26

 

Wells Fargo Bank, National Association

   Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager

 

CWCapital Asset Management
LLC

7501 Wisconsin Avenue, Suite 500 West

Bethesda, Maryland 20814

Attention: Brian Hanson (COMM 2015-CCRE26)

 

with a copy
to:

 

CWCapital Asset Management
LLC

7501 Wisconsin Avenue, Suite 500 West

Bethesda, Maryland 20814

Attention: Legal Department (COMM 2015-CCRE26)

 

Park
Bridge Lender Services LLC

c/o Park Bridge Financial LLC

560 Lexington Avenue, 17th Floor

New York, New York 10022

Attention: COMM 2015-CCRE26-Surveillance Manager

 

with a copy via email to:
cmbs.notices@parkbridgefinancial.com

 

    	DD-3

    	 

    

 

Moody’s
Investors Services, Inc.

7 World Trade Center

New York, New York 10007

Attention: Commercial Mortgage Surveillance Group

 

Fitch Ratings, Inc.

33 Whitehall Street

New York, New York 10004

Attention: Michael Giordanella

 

Kroll Bond Rating Agency,
Inc.

845 Third Avenue, 4th Floor

New York, New York 10022

Attention: CMBS Surveillance

 

Morningstar Credit Ratings,
LLC

220 Gibraltar Road, Suite 300

Horsham, Pennsylvania 19044

Attention: CMBS Surveillance

 

    	DD-4

    	 

    

 

SCHEDULE II TO FORM OF NOTICE

 

FROM THE CERTIFICATE ADMINISTRATOR

REGARDING THE [[_]LOAN COMBINATION] AND
[[_] LOAN COMBINATION] 

 

		Account:	Collection Account

 

Account
#:[______]

 

		Title:	Wells Fargo Bank, National Association, as Master Servicer, on behalf of Wilmington Trust, National
Association, as Trustee, for the benefit of the Holders of COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass-Through Certificates,
Collection Account

 

		Location:	[___]

 

    	DD-5

    	 

    

 

EXHIBIT EE

 

FORM OF SERVICED COMPANION LOAN NOTEHOLDER
CERTIFICATION

 

[Date]

 

Wells Fargo Bank, National Association, as Master Servicer

   Commercial Mortgage Servicing

MAC D1086

550 South Tryon Street, 14th Floor

Charlotte, North Carolina 28202

Attention: COMM 2015-CCRE26 Asset Manager

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services — COMM 2015-CCRE26

 

		Re:	Pooling and Servicing Agreement (“Pooling and Servicing Agreement”)
relating to COMM 2015-CCRE26 Mortgage Trust Commercial Mortgage Pass Through Certificates – Companion Loan

 

In accordance with the
requirements for obtaining certain information under the Pooling and Servicing Agreement, with respect to any Companion Loan (as
defined in the Pooling and Servicing Agreement), the undersigned hereby certifies and agrees as follows:

 

1.          The undersigned
is a Companion Loan Noteholder (as defined in the Pooling and Servicing Agreement).

 

2.          The undersigned
is requesting access pursuant to the Pooling and Servicing Agreement to certain information (the “Information”)
on the Certificate Administrator’s Website.

 

In consideration of the
disclosure to the undersigned of the Information, or the access thereto, the undersigned shall keep the Information confidential
(except from such outside persons as are assisting it in making an evaluation in connection with purchasing the related Certificates,
from its accountants and attorneys, and otherwise from such governmental or banking authorities or agencies to which the undersigned
is subject), and such Information shall not, without the prior written consent of the Depositor, be otherwise disclosed by the
undersigned or by its officers, directors, partners, employees, agents or representatives (collectively, the “Representatives”)
in any manner, in whole or in part.

 

The undersigned shall
not use or disclose the Information in any manner which could result in a violation of any provision of the Securities Act of 1933,
as amended (the “Securities Act”), or the Securities Exchange Act of 1934, as amended, or would require

 

    	EE-1

    	 

    

 

registration
of any Certificate not previously registered pursuant to Section 5 of the Securities Act.

 

3.          The undersigned
agrees that each time it accesses the Certificate Administrator’s Website, the undersigned is deemed to have recertified
that the representations contained herein remain true and correct.

 

4.          The undersigned
shall be fully liable for any breach of this agreement by itself or any of its Representatives and shall indemnify the Depositor,
the Certificate Administrator, the Trustee, the Master Servicer, the Special Servicer, the Operating Advisor, the Underwriters,
the Initial Purchasers and the Trust Fund for any loss, liability or expense incurred thereby with respect to any such breach by
the undersigned or any of its Representatives.

 

5.          Capitalized terms
used but not defined herein shall have the respective meanings assigned thereto in the Agreement.

 

IN WITNESS WHEREOF, the
undersigned has caused its name to be signed hereto by its duly authorized officer, as of the day and year written above.

	 	 	 
	 	[Companion Loan Noteholder]
	 	 	 
	 	By:	 	 
	 	 	Title:
	 	 	Company:
	 	 	Phone:

 

    	EE-2

    	 

    

 

SCHEDULE I

 

DIRECTING HOLDERS

 

	Mortgage Loan	Directing Holder	Contact Information
	All Mortgage Loans (other than the Heartland Industrial Portfolio Mortgage Loan)	Seer Capital Partners Master Fund L.P.	Seer Capital Partners Master Fund L.P.

1177 Sixth Avenue

New York, New York 10036
	Heartland Industrial Portfolio Mortgage Loan	Eightfold Real Estate Capital Fund IV, L.P.	Eightfold Real Estate Capital, L.P.

1111 Lincoln Road, Suite 802

Miami Beach, Florida 33139

Attention: Brian Tageson
	 	 	 

 

    	Sch. I-1

    	 

    

 

SCHEDULE II

 

SERVICING CRITERIA TO BE ADDRESSED IN
ASSESSMENT OF COMPLIANCE

 

The assessment of compliance
to be delivered shall address, at a minimum, the criteria identified below as “Relevant Servicing Criteria” (with each
Servicing Function Participant deemed to be responsible for the items applicable to the functions it is performing and for which
the party that retained such Servicing Function Participant is responsible):

 

	Relevant Servicing Criteria	Applicable 

Party(ies)
	Reference	Criteria	 
	 	General Servicing Considerations	 
	1122(d)(1)(i)	Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements.	Cert. Admin.

Master Servicer

Special Servicer
	1122(d)(1)(ii)	If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party’s performance and compliance with such servicing activities.	Cert. Admin.

Master Servicer

Special Servicer
	1122(d)(1)(iii)	Any requirements in the transaction agreements to maintain a back-up servicer for the mortgage loans are maintained.	N/A
	1122(d)(1)(iv)	A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.	Master Servicer

Special Servicer
	1122(d)(1)(v)	Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information.1	Certificate Administrator

Master Servicer

Special Servicer
	 	Cash Collection and Administration	 

 

 

 

1 The Servicing criteria in Item 1122(d)(1)(v) of Regulation AB shall be applicable on
and after November 23, 2015.

 

    	Sch. II-1

    	 

    

 

	Relevant Servicing Criteria	Applicable 

Party(ies)
	Reference	Criteria	 
	1122(d)(2)(i)	Payments on mortgage loans are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.	Master Servicer

Special Servicer
	1122(d)(2)(ii)	Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel.	Cert. Admin.
	1122(d)(2)(iii)	Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.	Trustee

Master Servicer

Special Servicer
	1122(d)(2)(iv)	The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.	Cert. Admin.

Master Servicer

Special Servicer
	1122(d)(2)(v)	Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, “federally insured depository institution” with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act.	Cert. Admin.

Master Servicer

Special Servicer
	1122(d)(2)(vi)	Unissued checks are safeguarded so as to prevent unauthorized access.	Cert. Admin.

Master Servicer

Special Servicer
	1122(d)(2)(vii)	Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements.	Cert. Admin.

Master Servicer

Special Servicer
	 	Investor Remittances and Reporting	 

 

    	Sch. II-2

    	 

    

 

	Relevant Servicing Criteria	Applicable 

Party(ies)
	Reference	Criteria	 
	1122(d)(3)(i)	Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors’ or the trustee’s records as to the total unpaid principal balance and number of mortgage loans serviced by the Master Servicer.	Cert. Admin.

Operating Adv. (excluding clauses (C) and (D) in the case of the Operating Adv.)
	1122(d)(3)(ii)	Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements.	Cert. Admin.
	1122(d)(3)(iii)	Disbursements made to an investor are posted within two business days to the Master Servicer’s investor records or Certificate Administrator’s investor records, or such other number of days specified in the transaction agreements.	Cert. Admin.

 
	1122(d)(3)(iv)	Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements.	Cert. Admin.
	 	Pool Asset Administration	 
	1122(d)(4)(i)	Collateral or security on mortgage loans is maintained as required by the transaction agreements or related mortgage loan documents.	Custodian

Master Servicer

Special Servicer
	1122(d)(4)(ii)	Mortgage loan and related documents are safeguarded as required by the transaction agreements.	Custodian
	1122(d)(4)(iii)	Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements.	Master Servicer

Special Servicer

 

    	Sch. II-3

    	 

    

 

	Relevant Servicing Criteria	Applicable 

Party(ies)
	Reference	Criteria	 
	1122(d)(4)(iv)	Payments on mortgage loans, including any payoffs, made in accordance with the related mortgage loan documents are posted to the Master Servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related mortgage loan documents.	Master Servicer
	1122(d)(4)(v)	The Master Servicer’s records regarding the mortgage loans agree with the Master Servicer’s records with respect to an obligor’s unpaid principal balance.	Master Servicer
	1122(d)(4)(vi)	Changes with respect to the terms or status of an obligor’s mortgage loans (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.	Master Servicer

Special Servicer
	1122(d)(4)(vii)	Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.	Special Servicer

Operating Adv.
	1122(d)(4)(viii)	Records documenting collection efforts are maintained during the period a mortgage loan is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity’s activities in monitoring delinquent mortgage loans including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).	Master Servicer

Special Servicer
	1122(d)(4)(ix)	Adjustments to interest rates or rates of return for mortgage loans with variable rates are computed based on the related mortgage loan documents.	Master Servicer

 

    	Sch. II-4

    	 

    

 

	Relevant Servicing Criteria	Applicable 

Party(ies)
	Reference	Criteria	 
	1122(d)(4)(x)	Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor’s mortgage loan documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable mortgage loan documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related mortgage loans, or such other number of days specified in the transaction agreements.	Master Servicer
	1122(d)(4)(xi)	Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements.	Master Servicer
	1122(d)(4)(xii)	Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer’s funds and not charged to the obligor, unless the late payment was due to the obligor’s error or omission.	Master Servicer
	1122(d)(4)(xiii)	Disbursements made on behalf of an obligor are posted within two business days to the obligor’s records maintained by the servicer, or such other number of days specified in the transaction agreements.	Master Servicer
	1122(d)(4)(xiv)	Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements.	Master Servicer
	1122(d)(4)(xv)	Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements.	N/A

 

If the Master Servicer
and Special Servicer are the same entity, the Master Servicer and the Special Servicer may provide a combined assessment of compliance
in respect of their combined responsibilities under Section 1122 of Regulation AB.

 

    	Sch. II-5

    	 

    

 

SCHEDULE III

 

CLASS A-SB PLANNED PRINCIPAL BALANCE
SCHEDULE

	 	 	 	 	 	 
	Period	Balance
    ($)	Period	Balance
    ($)	Period	Balance
    ($)
	 	 	 	 	 	 
	Initial
    Balance	76,831,000.00	39	76,831,000.00	78	52,092,398.78
	1	76,831,000.00	40	76,831,000.00	79	50,735,602.66
	2	76,831,000.00	41	76,831,000.00	80	49,475,409.93
	3	76,831,000.00	42	76,831,000.00	81	48,108,461.81
	4	76,831,000.00	43	76,831,000.00	82	46,797,339.84
	5	76,831,000.00	44	76,831,000.00	83	45,480,977.46
	6	76,831,000.00	45	76,831,000.00	84	44,054,395.37
	7	76,831,000.00	46	76,831,000.00	85	42,727,067.15
	8	76,831,000.00	47	76,831,000.00	86	41,289,830.29
	9	76,831,000.00	48	76,831,000.00	87	39,951,449.31
	10	76,831,000.00	49	76,831,000.00	88	38,607,718.32
	11	76,831,000.00	50	76,831,000.00	89	36,946,400.32
	12	76,831,000.00	51	76,831,000.00	90	35,590,650.18
	13	76,831,000.00	52	76,831,000.00	91	34,125,797.61
	14	76,831,000.00	53	76,831,000.00	92	32,758,769.34
	15	76,831,000.00	54	76,831,000.00	93	31,282,958.55
	16	76,831,000.00	55	76,831,000.00	94	29,904,562.70
	17	76,831,000.00	56	76,831,000.00	95	28,520,655.91
	18	76,831,000.00	57	76,831,000.00	96	27,028,445.39
	19	76,831,000.00	58	76,830,025.63	97	25,633,037.20
	20	76,831,000.00	59	75,742,942.33	98	24,129,651.54
	21	76,831,000.00	60	74,525,746.05	99	22,722,650.74
	22	76,831,000.00	61	73,404,576.67	100	21,310,023.96
	23	76,831,000.00	62	72,178,287.66	101	19,688,067.67
	24	76,831,000.00	63	71,047,685.71	102	18,263,302.54
	25	76,831,000.00	64	69,912,541.99	103	16,731,392.64
	26	76,831,000.00	65	68,472,348.11	104	15,294,802.06
	27	76,831,000.00	66	67,326,850.12	105	13,751,402.14
	28	76,831,000.00	67	66,076,922.15	106	12,302,892.34
	29	76,831,000.00	68	64,921,797.73	107	10,848,589.56
	30	76,831,000.00	69	63,662,516.22	108	9,287,979.84
	31	76,831,000.00	70	62,454,138.40	109	7,821,617.34
	32	76,831,000.00	71	61,240,918.98	110	6,249,289.98
	33	76,831,000.00	72	59,919,612.16	111	4,770,772.09
	34	76,831,000.00	73	58,696,234.77	112	3,286,340.50
	35	76,831,000.00	74	57,365,058.05	113	1,497,426.87
	36	76,831,000.00	75	56,131,441.98	114
    and thereafter	0.00
	37	76,831,000.00	76	54,892,882.61	 	 
	38	76,831,000.00	77	53,342,143.25	 	 

 

    	Sch. III-1

    	 

    

 

SCHEDULE IV

 

ADDITIONAL FORM 10-D DISCLOSURE

 

The parties identified in the “Party
Responsible” column (with each Servicing Function Participant deemed to be responsible for the following items for which
the party that retained such Servicing Function Participant is responsible) are obligated pursuant to Section 10.06 of the Pooling
and Servicing Agreement to disclose to the Depositor and the Certificate Administrator any information described in the corresponding
Form 10-D Item described in the “Item on Form 10-D” column to the extent such party has actual knowledge (and in the
case of financial statements required to be provided in connection with Item 6 below, possession) of such information (other than
information as to itself). Each of the Certificate Administrator, the Paying Agent, the Trustee, the Master Servicer and the Special
Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the Prospectus Supplement (other than information
with respect to itself that is set forth in or omitted from the Prospectus Supplement), in the absence of specific written notice
to the contrary from the Depositor or Mortgage Loan Sellers. Each of the Certificate Administrator, the Paying Agent, the Trustee,
the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to conclusively assume that there is no
“significant obligor” other than a party identified as such in the Prospectus Supplement. For this COMM 2015-CCRE26
Pooling and Servicing Agreement, each of the Certificate Administrator, the Paying Agent, the Trustee, the Master Servicer and
the Special Servicer (in its capacity as such) shall be entitled to assume that there is no provider of credit enhancement, liquidity
or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB other than a party identified as such in the
Prospectus Supplement.

 

	Item on Form 10-D	Party Responsible
	Distribution and Pool Performance Information: Only with respect to any information required by 1121 which is NOT included on the Distribution Date Statement	
        ·     Each
Master Servicer (only with respect to 1121(a)(12) as to non Specially Serviced Loans)

        ·
            Special Servicer (only with respect to 1121(a)(12) as to Specially Serviced Loans)

        ·     Depositor

        ·     Certificate
Administrator

        ·     Each
Mortgage Loan Seller (only with respect to 1121(c)(2))

	Item 2: Legal Proceedings:

Item 1117 of Regulation AB (to the extent material to Certificateholders)	
        ·     Master Servicer (as to itself)

        ·     Special
Servicer (as to itself)

        ·     Trustee
(as to itself)

        ·     Certificate
Administrator (as to itself)

        ·     Depositor
(as to itself)

        ·     Any
        other Reporting Servicer (as to itself)

        ·     Trustee/Certificate
     Administrator/Master 

 

    	Sch. IV-1

    	 

    

 

	 	
        Servicer/Depositor/Special
Servicer as to the Trust

        ·     Each
Mortgage Loan Seller

        ·     Originators
under Item 1110 of Regulation AB (to be provided by the Depositor)

        ·     Party
under Item 1100(d)(1) of Regulation AB (to be provided by the

 Depositor)

	Item 3: Sale of Securities and Use of Proceeds	·     Depositor
	Item 4: Defaults Upon Senior Securities	
        ·     Certificate
Administrator

        ·     Trustee

	Item 5: Submission of Matters to a Vote of Security Holders	·     Certificate Administrator
	Item 6: Significant Obligors of Pool Assets	·     Master Servicer
	[Item 7:  Change in Sponsor Interest in the Securities]**	·     [Each Mortgage Loan Seller as to itself and its affiliates]**
	[Item 7][Item 8]**:  Significant Enhancement Provider Information	·     N/A
	[Item 8][Item 9]**:  Other Information (information required to be disclosed on Form 8-K that was not properly disclosed)	·     Any party responsible for disclosure items on Form 8-K to the extent of such items
	[Item 9][Item 10]**:  Exhibits 	
        ·     Depositor
(exhibits required by Item 601 of Regulation S-K, such as material agreements) 

        ·     Certificate
Administrator (Monthly Statement to Certificateholders) 

 

* Effective from and after November 23, 2016, unless otherwise indicated by the Commission in a manner satisfactory to the Depositor.

** Effective from and after November 23, 2015.

 

    	Sch. IV-2

    	 

    

 

SCHEDULE V

 

ADDITIONAL FORM 10-K DISCLOSURE

 

The parties identified in the “Party
Responsible” column (with each Servicing Function Participant deemed to be responsible for the following items for which
the party that retained such Servicing Function Participant is responsible) are obligated pursuant to Section 10.07 of the Pooling
and Servicing Agreement to disclose to the Depositor and the Certificate Administrator any information described in the corresponding
Form 10-K Item described in the “Item on Form 10-K” column to the extent such party has actual knowledge (and in the
case of financial statements required to be provided in connection with 1112(b) below, possession) of such information (other than
information as to itself). Each of the Certificate Administrator, the Paying Agent, the Trustee, the Master Servicer and the Special
Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the Prospectus Supplement (other than information
with respect to itself that is set forth in or omitted from the Prospectus Supplement), in the absence of specific written notice
to the contrary from the Depositor or Mortgage Loan Sellers. Each of the Certificate Administrator, the Paying Agent, the Trustee,
the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to conclusively assume that there is no
“significant obligor” other than a party identified as such in the Prospectus Supplement. For this COMM 2015-CCRE26
Pooling and Servicing Agreement, each of the Certificate Administrator, the Paying Agent, the Trustee, the Master Servicer and
the Special Servicer (in its capacity as such) shall be entitled to assume that there is no provider of credit enhancement, liquidity
or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB other than a party identified as such in the
Prospectus Supplement.

 

	Item on Form 10-K	Party Responsible
	Item 1B: Unresolved Staff Comments	·     Depositor
	Item 9B: Other Information (information required to be disclosed on Form 8-K that was not properly disclosed)	·     Any party responsible for disclosure items on Form 8-K to the extent of such items
	Item 15: Exhibits, Financial Statement Schedules	
        ·     Certificate
Administrator

        ·     Depositor 

 

    	Sch. V-1

    	 

    

 

	Additional Item:

Disclosure per Item 1117 of Regulation AB (to the extent material to Certificateholders)	
        ·     Master
        Servicer (as to itself)

        ·     Special
        Servicer (as to itself)

        ·     Certificate
        Administrator (as to itself)

        ·     Trustee
        (as to itself)

        ·     Depositor
        (as to itself)

        ·     Operating
        Advisor (as to itself)

        ·     Any
        other Reporting Servicer (as to itself)

        ·     Trustee/Certificate
        Administrator/Master Servicer/Depositor/Special Servicer as to the Trust

        ·     Each
        Mortgage Loan Seller

        ·     Originators
        under Item 1110 of Regulation AB (to be provided by the Depositor)

        ·     Party
        under Item 1100(d)(1) of Regulation AB (to be provided by the Depositor)

        
	Additional Item:

Disclosure per Item 1119 of Regulation AB	
        ·     Master
        Servicer (as to itself) (to the extent material to Certificateholders and only as to affiliations under 1119(a) with the Trustee,
        Certificate Administrator, Special Servicer or a sub-servicer meeting any of the descriptions in Item 1108(a)(3))

        ·     Special
        Servicer (as to itself) (to the extent material to Certificateholders and only as to affiliations under 1119(a) with the Trustee,
        Certificate Administrator, Master Servicer or a sub-servicer meeting any of the descriptions in Item 1108(a)(3))

        ·     Certificate
        Administrator (as to itself) (to the extent material to Certificateholders)

        ·     Trustee
        (as to itself) (to the extent material to Certificateholders)

        ·     Depositor
        (as to itself)

        ·     Depositor
        (as to the Trust)

        ·     Each
        Mortgage Loan Seller

        ·     Operating
        Advisor (as to itself)

        ·     Originators
        under Item 1110 of Regulation AB (to be provided by the Depositor)

        ·     Party
        under Item 1100(d)(1) of Regulation AB (to be provided by the Depositor)

        

 

    	Sch. V-2

    	 

    

 

	Additional Item:

Disclosure per Item 1112(b) of Regulation AB	Master Servicer
	Additional Item:

Disclosure per Items 1114(b)(2) and 1115(b) of Regulation AB	N/A

 

    	Sch. V-3

    	 

    

 

SCHEDULE VI

 

FORM 8-K DISCLOSURE INFORMATION

 

The parties identified in the “Party
Responsible” column (with each Servicing Function Participant deemed to be responsible for the following items for which
the party that retained such Servicing Function Participant is responsible) are obligated pursuant to Section 10.09 of the Pooling
and Servicing Agreement to report to the Depositor and the Certificate Administrator the occurrence of any event described in the
corresponding Form 8-K Item described in the “Item on Form 8-K” column to the extent such party has actual knowledge
of such information (other than information as to itself). Each of the Certificate Administrator, the Paying Agent, the Trustee,
the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to rely on the accuracy of the Prospectus
Supplement (other than information with respect to itself that is set forth in or omitted from the Prospectus Supplement), in the
absence of specific written notice to the contrary from the Depositor or Mortgage Loan Sellers. Each of the Certificate Administrator,
the Paying Agent, the Trustee, the Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to conclusively
assume that there is no “significant obligor” other than a party identified as such in the Prospectus Supplement. For
this COMM 2015-CCRE26 Pooling and Servicing Agreement, each of the Certificate Administrator, the Paying Agent, the Trustee, the
Master Servicer and the Special Servicer (in its capacity as such) shall be entitled to assume that there is no provider of credit
enhancement, liquidity or derivative instruments within the meaning of Items 1114 or 1115 of Regulation AB other than a party identified
as such in the Prospectus Supplement.

 

	Item on Form 8-K	Party Responsible 
	Item 1.01- Entry into a Material Definitive Agreement

Disclosure is required regarding entry into or amendment of any definitive agreement that is material to the securitization, even if depositor is not a party. 

Examples: servicing agreement, custodial agreement.

Note: disclosure not required as to definitive agreements that are fully disclosed in the prospectus	·     Trustee/Certificate Administrator/Master Servicer/Depositor/Special Servicer as to the Trust (only as to the agreements such entity is a party to or entered into on behalf of the Trust)
	Item 1.02- Termination of a Material Definitive Agreement

Disclosure is required regarding termination of any definitive agreement that is material to the securitization (other than expiration in accordance with its terms), even if depositor is	·     Trustee/Certificate Administrator/Master Servicer/Depositor/Special Servicer as to the Trust (only as to the agreements such entity is a party to or entered into on behalf of the Trust)

 

    	Sch. VI-1

    	 

    

 

	Item on Form 8-K	Party Responsible 
	not a party. 

Examples: servicing agreement, custodial agreement.	 
	Item 1.03- Bankruptcy or Receivership	
        ·     Depositor

        ·     Each
        Mortgage Loan Seller

        
	Item 2.04- Triggering Events that Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement

Includes an early amortization, performance trigger or other event, including event of default, that would materially alter the payment priority/distribution of cash flows/amortization schedule.

Disclosure will be made of events other than waterfall triggers which are disclosed in the monthly statements to the certificateholders.	
        ·     Depositor

        ·     Certificate
        Administrator

        
	Item 3.03- Material Modification to Rights of Security Holders

Disclosure is required of any material modification to documents defining the rights of Certificateholders, including the Pooling and Servicing Agreement.	·     Certificate Administrator
	Item 5.03- Amendments of Articles of Incorporation or Bylaws; Change of Fiscal Year

Disclosure is required of any amendment “to the governing documents of the issuing entity”.	·     Depositor
	Item 6.01- ABS Informational and Computational Material	·     Depositor
	Item 6.02- Change of Servicer or Trustee 

Requires disclosure of any removal, replacement, substitution or addition of any master servicer, affiliated servicer, other servicer servicing 10% or more of pool assets at time of report, other material servicers or trustee.	
        ·     Master
        Servicer (as to itself or a servicer retained by it)

        ·     Special
        Servicer (as to itself or a servicer retained by it)

        ·     Certificate
        Administrator (as to itself or an entity retained by it)

        ·     Trustee

        ·     Depositor

        
	Reg AB disclosure about any new servicer or master servicer is also required.	·  
      Master Servicer or Special Servicer, as applicable
	Reg AB disclosure about any new Trustee is also	·     Trustee

 

    	Sch. VI-2

    	 

    

 

	Item on Form 8-K	Party Responsible 
	 required.	 
	Reg AB disclosure about any new Certificate Administrator is also required.	·     Certificate Administrator
	Item 6.03- Change in Credit Enhancement or External Support	N/A
	Item 6.04- Failure to Make a Required Distribution	·     Certificate Administrator
	Item 6.05- Securities Act Updating Disclosure

If any material pool characteristic differs by 5% or more at the time of issuance of the securities from the description in the final prospectus, provide updated Reg AB disclosure about the actual asset pool.

If there are any new servicers or originators required to be disclosed under Regulation AB as a result of the foregoing, provide the information called for in Items 1108 and 1110 respectively.	·     Depositor
	Item 7.01- Regulation FD Disclosure	·     Depositor
	Item 8.01 – Other Events

Any event, with respect to which information is not otherwise called for in Form 8-K, that the registrant deems of importance to certificateholders.	·     Depositor
	Item 9.01 – Financial Statements and Exhibits	·     Responsible party for reporting/disclosing the financial statement or exhibit

 

    	Sch. VI-3

    	 

    

 

SCHEDULE VII

 

INITIAL SERVICED COMPANION LOAN NOTEHOLDERS

 

	Serviced
    Companion Loan	Initial
    Noteholders	Address
	Prudential Plaza	German American Capital Corporation

(Note A-2, Note A-3 and Note A-4 Holder)	German American Capital Corporation

60 Wall Street

New York, New York 10005

Attention: Lainie Kaye

 

    	Sch. VII-1

    	 

    

 

SCHEDULE VIII

 

CONTACT INFORMATION FOR THE OTHER 17G-5
INFORMATION PROVIDER

 

	Other
    17g-5 Information 

    Provider	Transaction	Contact
    Information
	Wells Fargo Bank, National
    Association	MAD 2015-11MD Mortgage
    Trust Commercial Mortgage Pass-Through Certificates	17g5informationprovider@wellsfargo.com
        (in an electronic format readable and uploadable (that is not locked or corrupted) on the 17g-5 Information Provider’s
        system, specifically with a subject reference of “MAD 2015-11MD” and an identification of the type of information
        being provided in the body of such electronic mail)

         

	Deutsche
    Bank Trust Company Americas	COMM
    2015-CCRE25 Mortgage Trust Commercial Mortgage Pass-Through Certificates	17g5information.provider@db.com
        (in an electronic format readable and uploadable (that is not locked or corrupted) on the 17g-5 Information Provider’s
        system, specifically with a subject reference of “COMM 2015-CCRE25” and an identification of the type of information
        being provided in the body of such electronic mail)

 

    	Sch. VIII-1

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