Document:

Exhibit 4.12 

 

EXECUTION COPY

 

AGREEMENT BETWEEN NOTE HOLDERS

 

Dated as
of August 28, 2018

 

by and among

 

Société
Générale

(Initial Note A-1 Holder)

 

and

 

Société
Générale

(Initial Note A-2 Holder)

 

ASPECT RHG HOTEL PORTFOLIO

 

     

    

    

 

TABLE OF CONTENTS

 

 

	 	 	Page
	 	 	 
	Section 1	Definitions	2
	Section 2	Servicing of the Mortgage Loan	16
	Section 3	Priority of Payments	22
	Section 4	Workout	23
	Section 5	Administration of the Mortgage Loan	23
	Section 6	Rights of the Controlling Note Holder	28
	Section 7	Appointment of Special Servicer	31
	Section 8	Payment Procedure	31
	Section 9	Limitation on Liability of the Note Holders	32
	Section 10	Bankruptcy	33
	Section 11	Representations of the Note Holders	33
	Section 12	No Creation of a Partnership or Exclusive Purchase Right	34
	Section 13	Other Business Activities of the Note Holders	34
	Section 14	Sale of the Notes	34
	Section 15	Registration of the Notes and Each Note Holder	37
	Section 16	Governing Law; Waiver of Jury Trial	38
	Section 17	Submission To Jurisdiction; Waivers	38
	Section 18	Modifications	39
	Section 19	Successors and Assigns; Third Party Beneficiaries	39
	Section 20	Counterparts	39
	Section 21	Captions	40
	Section 22	Severability	40
	Section 23	Entire Agreement	40
	Section 24	Withholding Taxes	40
	Section 25	Custody of Mortgage Loan Documents	41
	Section 26	Cooperation in Securitization	41
	Section 27	Notices	42
	Section 28	Broker	43
	Section 29	Certain Matters Affecting the Agent	43
	Section 30	Agency	43
	Section 31	Resignation of Agent	43
	Section 32	Resizing	44

 

    -i- 

    

    

 

THIS AGREEMENT BETWEEN
NOTE HOLDERS (“Agreement”), dated as of August 28, 2018 by and among Société Générale
(“SG” and together with its successors and assigns in interest, in its capacity as initial owner of the Note A-1,
the “Initial Note A-1 Holder”, and in its capacity as the initial agent, the “Initial Agent”),
and SG (together with its successors and assigns in interest, in its capacity as initial owner of the Note A-2, the “Initial
Note A-2 Holder” and, together with the Initial Note A-1 Holder, the “Initial Note Holders”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
the Mortgage Loan Agreement (as defined herein), SG originated a certain loan (the “Mortgage Loan”) described
on the schedule attached hereto as Exhibit A (the “Mortgage Loan Schedule”) to the mortgage loan borrowers described
on the Mortgage Loan Schedule (collectively, the “Mortgage Loan Borrower”), which was evidenced, inter alia,
by a promissory note, dated as of July 19, 2018, in the original principal amount of $46,200,000 (the “Original Note”)
made by the Mortgage Loan Borrower in favor of SG and secured by a first mortgage (as amended, modified or supplemented, the “Mortgage”)
on certain real property located as described on the Mortgage Loan Schedule and commonly known as Aspect RHG Hotel Portfolio”
(the “Mortgaged Property”); WHEREAS, SG and the Mortgage Loan Borrower have agreed, pursuant to the Note Splitter
Agreement, dated as of July 23, 2018, between such parties, between such parties, to split the Original Note into two promissory
notes and the Mortgage Loan Borrower has executed and delivered to SG (i) one promissory note in the original principal amount
of $33,500,000 (as amended, modified or supplemented, “Note A-1”) made by the Mortgage Loan Borrower in
favor of the Initial Note A-1 Holder and (ii) one promissory note in the original principal amount of $12,700,000 (as amended,
modified or supplemented, “Note A-2” and together with Note A-1, the “Notes”) made
by the Mortgage Loan Borrower in favor of the Initial Note A-2 Holder.

 

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

 

WHEREAS, the Initial
Note A-2 Holder intends, but is not bound, to sell, transfer and assign all or a portion of its right, title and interest in and
to Note A-2 to a depositor who will in turn transfer the same to a trust as part of the securitization of one or more mortgage
loans; and

 

     

    

    

 

WHEREAS, the Initial
Note Holders desire to enter into this Agreement to memorialize the terms under which they, and their successors and assigns, shall
hold their respective Notes;

 

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

 

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

 

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

 

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

 

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

 

“Agent Office”
shall mean the designated office of the Agent, which office at the date of this Agreement is located at Société Générale,
245 Park Avenue, New York, New York 10167, Attention: Jim Barnard, Facsimile number: (212) 278-2074, Email address: Jim.Barnard@sgcib.com,
and which is the address to which notices to and correspondence with the Agent should be directed. The Agent may change the address
of its designated office by notice to the Note Holders.

 

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

 

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

 

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

 

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

 

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

 

     -2-

    

    

 

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

 

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

 

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

 

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

 

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

 

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

 

“Controlling
Note Holder” shall mean the Note A-1 Holder; provided that at any time Note A-1 is included in a Securitization,
references to the “Controlling Note Holder” herein shall mean the holders of the majority of the class of securities
issued in such Securitization designated as the “controlling class” or such other class(es) otherwise assigned the
rights to exercise the rights of the “Controlling Note Holder” hereunder, as and to the extent provided in the related
Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

     -3-

    

    

 

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

 

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

 

“Interest Rate”
shall mean the Interest Rate (as defined in the Mortgage Loan Documents).

 

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

 

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

 

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

 

“Lead Asset
Representations Reviewer” shall mean the “Asset Representations Reviewer” as defined in the Lead Securitization
Servicing Agreement.

 

“Lead Securitization”
shall mean during the period from and after the Note A-1 Securitization Date, the Note A-1 Securitization.

 

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

 

     -4-

    

    

 

“Lead Securitization
Note” shall mean during the period from and after the Note A-1 Securitization Date, Note A-1.

 

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

 

“Lead Securitization
Servicing Agreement” shall mean (a) during the period from and after the Note A-1 Securitization Date, the Note A-1
PSA, and (b) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization
Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second
paragraph of Section 2(a).

 

“Lead Securitization
Trust” shall mean during the period from and after the Note A-1 Securitization Date, the trust established under
the Note A-1 PSA in connection with the Note A-1 Securitization.

 

“Loan Combination
Custodial Account” shall mean the “Companion Distribution Account” or similar term for such account as defined
in the Lead Securitization Servicing Agreement.

 

“Major Decisions”
shall have the meaning given to such term or one or more analogous terms in the Lead Securitization Servicing Agreement; provided
that at any time none of the Notes are included in a Securitization, “Major Decision” shall mean:

 

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

 

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

 

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

 

(iv)        any sale of the Mortgage Loan (when it is a Defaulted Mortgage Loan) or REO Property for less than the applicable Purchase
Price (as defined in the Lead Securitization Servicing Agreement);

 

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

 

     -5-

    

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(xiii)       any determination of an Acceptable Insurance Default;

 

(xiv)       any determination by the Master Servicer to transfer the Mortgage Loan to the Special Servicer due to a default under the
Mortgage Loan Documents that (a) is reasonably foreseeable, (b) will materially impair the value of the corresponding
Mortgaged Property as security for the Mortgage Loan or Serviced Pari Passu Companion Loan(s) or otherwise materially or adversely
affect the interest of certificateholders (or the related holder(s) Serviced Pari Passu Companion Loan), and (iii) is likely
to continue unremedied for the applicable cure period under the terms of the Mortgage Loan Documents, or if no cure period is specified
and the default is capable of being cured, for the time period specified in the Lead Securitization Servicing Agreement applicable
to such circumstances; or

 

     -6-

    

    

 

(xv)        any modification, waiver or amendment of any lease, the execution of any new lease or the granting of a subordination and
nondisturbance or attornment agreement in connection with any lease, at the Mortgaged Property if (a) the lease involves a ground
lease or lease of an outparcel or affects an area greater than or equal to the lesser of (1) 30% of the net rentable area of the
improvements at the Mortgaged Property and (2) 30,000 square feet of the improvements at the Mortgaged Property and (b) either
approval of such transaction by the Master Servicer is not expressly permitted under the Lead Securitization Servicing Agreement
or the Mortgage Loan is a Specially Serviced Mortgage Loan.

 

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

 

“Monthly Payment
Date” shall mean the Payment Date (as defined in the Mortgage Loan Documents).

 

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

 

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

 

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

 

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

 

“Mortgage Loan
Agreement” shall mean the Loan Agreement, dated as of July 19, 2018, between AHP Real 3 Denver SPV LLC, AHP Real 3 Nashville
2573 SPV LLC, AHP Real 3 Nashville 2631 SPV LLC and AHP Real 3 Phoenix HP SPV LLC, collectively as Borrower, and SG, as Lender,
as may be amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof).

 

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

 

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

 

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

 

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

 

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

 

     -7-

    

    

 

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

 

“New Notes”
shall have the meaning assigned to such term in Section 32.

 

“Non-Controlling
Note Holder” shall mean the Note A-2 Holder; provided that at any time Note A-2 is included in a Securitization,
references to the “Non-Controlling Note Holder” herein shall mean the Directing Certificateholder or any other party
assigned the rights to exercise the rights of the “Non-Controlling Note Holder” hereunder, as and to the extent provided
in the related Securitization Servicing Agreement and as to the identity of which the Lead Securitization Note Holder (and the
Master Servicer and the Special Servicer) has been given written notice. The Lead Securitization Note Holder (or the Master Servicer
or the Special Servicer acting on its behalf) shall not be required at any time to deal with more than one party exercising the
rights of each “Non-Controlling Note Holder” herein or under the Lead Securitization Servicing Agreement and, (x) to
the extent that the related Securitization Servicing Agreement assigns such rights to more than one party or (y) to the extent
any Note is split into two or more New Notes pursuant to Section 32, for purposes of this Agreement, the applicable Securitization
Servicing Agreement or the holders of such New Notes shall designate one party to deal with the Lead Securitization Note Holder
(or the Master Servicer or the Special Servicer acting on its behalf) and provide written notice of such designation to the Lead
Securitization Note Holder (and the Master Servicer and the Special Servicer acting on its behalf); provided that, in the
absence of such designation and notice, the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting
on its behalf) shall be entitled to treat the last party as to which it has received written notice as having been designated as
the Non-Controlling Note Holder, as the Non-Controlling Note Holder for all purposes of this Agreement. As of the date hereof and
until further notice from the Non-Lead Securitization Note Holder (or the Non-Lead Master Servicer or another party acting on its
behalf), the Initial Note A-2 Holder and the Initial Note A-3 are the Non-Controlling Note Holders.

 

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

 

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

 

“Non-Lead Asset
Representations Reviewer” shall mean the “Asset Representations Reviewer” under the Non-Lead Securitization
Servicing Agreement.

 

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

 

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

 

     -8-

    

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

     -9-

    

    

  

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

“Note Holder
Representative” shall mean a Controlling Note Holder Representative or a Non-Controlling Note Holder Representative.

 

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

 

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

 

“Note Principal
Balance” shall mean each of the Note A-1 Principal Balance and the Note A-2 Principal Balance.

 

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

 

“Notes”
shall mean, collectively, Note A-1 and Note A-2.

 

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

 

     -10-

    

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

(a)         
an entity Controlled (as defined above) by any of the Initial Note Holders, or

 

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

 

(c)         
one or more of the following:

 

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

 

     -11-

    

    

 

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

 

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

 

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

 

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

 

     -12-

    

    

 

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

 

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

 

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

 

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

 

“Rating Agency
Confirmation” shall mean prior to a Securitization 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 the Rating Agency indicating
its decision not to review the matter for which the Rating Agency Confirmation is sought shall be deemed to satisfy the requirement
for the Rating Agency Confirmation from each Rating Agency with respect to such matter and after a Securitization, the meaning
given thereto or any analogous term in the Lead Securitization Servicing Agreement or Non-Lead Securitization Servicing Agreement,
as applicable, including any deemed Rating Agency Confirmation.

 

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

 

     -13-

    

    

 

“Regulation
AB” shall mean 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.

 

“REMIC”
shall have the meaning assigned to such term in Section 5(d).

 

“Required Special
Servicer Rating” shall mean with respect to a special servicer (i) in the case of Fitch, a rating of “CSS3”,
(ii) in the case of S&P, such special servicer is on S&P’s Select Servicer List as a U.S. Commercial Mortgage Special
Servicer, (iii)  in the case of Moody’s, such special servicer is acting as special servicer for one or more loans
included in a commercial mortgage loan securitization that was rated by Moody’s within the twelve (12) month period prior
to the date of determination, and Moody’s has not downgraded or withdrawn the then-current rating on any class of commercial
mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation of such special servicer
as special servicer of such commercial mortgage loans, (iv) in the case of Morningstar, either (a) the applicable replacement has
a special servicer ranking of at least “MOR CS3” by Morningstar (if ranked by Morningstar) or (b) if not ranked by
Morningstar, is currently acting as a special servicer on a deal or transaction-level basis for all or a significant portion of
the related mortgage loans in other CMBS transactions rated by any of S&P, Moody’s, Morningstar, Fitch, DBRS or KBRA
and the trustee does not have actual knowledge that Morningstar has, and the replacement special servicer certifies that Morningstar
has not, with respect to any such other CMBS transaction, qualified, downgraded or withdrawn its rating or ratings on one or more
classes of such CMBS transaction citing servicing concerns of the applicable replacement as the sole or material factor in such
rating action, (v) in the case of KBRA, KBRA has not cited servicing concerns of such special servicer as the sole or material
factor in any qualification, downgrade or withdrawal of the ratings (or placement on “watch status” in contemplation
of a ratings downgrade or withdrawal) of securities in a transaction serviced by such special servicer prior to the time of determination,
and (vi) in the case of DBRS, such special servicer is currently acting as special servicer for one or more loans included in a
commercial mortgage loan securitization that is rated by DBRS, and DBRS has not downgraded or withdrawn the then-current rating
on any class of commercial mortgage securities or placed any class of commercial mortgage securities on watch citing the continuation
of such special servicer as the sole or material factor in any qualification, downgrade or withdrawal of the ratings (or placement
on “watch status” in contemplation of a ratings downgrade or withdrawal) of securities in a transaction serviced by
such special servicer prior to the time of determination.

 

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

 

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

 

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

 

     -14-

    

    

 

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

 

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

 

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

 

“Securitization
Servicing Agreement” shall mean the Lead Securitization Servicing Agreement or the Non-Lead Securitization Servicing
Agreement.

 

“Securitization
Trust” shall mean a trust formed pursuant to a Securitization pursuant to which Note A-1 or Note A-2 is held.

 

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

 

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

 

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

 

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

 

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

 

“Special Servicer”
shall mean the special servicer or its successor in interest, or any successor appointed as provided in the Lead Securitization
Servicing Agreement.

 

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

 

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

 

“Trustee”
shall mean the trustee or its successor in interest, or any successor Trustee appointed as provided in the Lead Securitization
Servicing Agreement.

 

     -15-

    

    

 

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

 

Section 2.           
Servicing of the Mortgage Loan.

 

(a)          
Each Note Holder acknowledges and agrees that, subject in each case to this Agreement, the Mortgage Loan shall be serviced
from and after the Note A-1 Securitization Date by the Note A-1 Master Servicer and the Note A-1 Special Servicer
pursuant to the terms of this Agreement and the terms of the Note A-1 PSA, provided that the Master Servicer shall
not be obligated to advance monthly payments of principal or interest in respect of any Note other than the Lead Securitization
Note if such principal or interest is not paid by the Mortgage Loan Borrower but shall be obligated to advance delinquent real
estate taxes, insurance premiums and other expenses related to the maintenance of the Mortgaged Property and maintenance and enforcement
of the lien of the Mortgage thereon, subject to the terms of the Lead Securitization Servicing Agreement. Each Note Holder acknowledges
that any other Note Holder may elect, in its sole discretion, to include its Note in a Securitization and agrees that it will,
subject to Section 26, reasonably cooperate with such other Note Holder, at such other Note Holder’s expense, to effect
such Securitization. Subject to the terms and conditions of this Agreement, each Note Holder hereby irrevocably and unconditionally
consents to the appointment of the Master Servicer and the Trustee under the Lead Securitization Servicing Agreement by the Depositor
and the appointment of the Special Servicer by the Controlling Note Holder and agrees to reasonably cooperate with the Master Servicer
and the Special Servicer with respect to the servicing of the Mortgage Loan in accordance with the Lead Securitization Servicing
Agreement. Each Note Holder hereby appoints the Master Servicer, the Special Servicer and the Trustee in the Lead Securitization
as such Note Holder’s attorney-in-fact to sign any documents reasonably required with respect to the administration and servicing
of the Mortgage Loan on its behalf under the Lead Securitization Servicing Agreement (subject at all times to the rights of the
Note Holder set forth herein and in the Lead Securitization Servicing Agreement). In no event shall the Lead Securitization Servicing
Agreement require the Servicer to enforce the rights of any Note Holder or limit the Servicer in enforcing the rights of one Note
Holder against any other Note Holder; however, this statement shall not be construed to otherwise limit the rights of one Note
Holder with respect to any other Note Holder. Each Servicer shall be required pursuant to the Lead Securitization Servicing Agreement
to service the Mortgage Loan in accordance with the Servicing Standard, the terms of the Mortgage Loan Documents, the Lead Securitization
Servicing Agreement and applicable law, and shall not take any action or refrain from taking any action or follow any direction
inconsistent with the foregoing.

 

If, at any time that
the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the Note Holders agree
to cause the Mortgage Loan to

 

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be
serviced by one or more servicers, each of which has been agreed upon by the Note Holders, pursuant to a servicing agreement that
has servicing terms substantially similar to the Lead Securitization Servicing Agreement and all references herein to the “Lead
Securitization Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that
if the Non-Lead Securitization Note is in a Securitization, then a written confirmation shall have been obtained from each Rating
Agency that the appointment of the servicer(s) pursuant to such servicing agreement would not, in and of itself, cause a downgrade,
qualification or withdrawal of the then-current ratings assigned to the securities issued in connection with such Securitization;
provided, further, however, that until a replacement servicing agreement has been entered into, the Lead
Securitization Note Holder shall cause the Mortgage Loan to be serviced pursuant to the provisions of the Lead Securitization
Servicing Agreement as if such agreement were still in full force and effect with respect to the Mortgage Loan, by the Servicer
in the Lead Securitization or by any Person appointed by the Lead Securitization Note Holder that is a qualified servicer meeting
the requirements of the Lead Securitization Servicing Agreement.

 

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

 

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

 

     -17-

    

    

 

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

 

The Non-Lead
Master Servicer may be required to make P&I Advances on the respective Non-Lead Securitization Note, from time to time, subject
to the terms of the Non-Lead Securitization Servicing Agreement, the Lead Securitization Servicing Agreement and this Agreement.
The Master Servicer, the Special Servicer and the Trustee, as applicable, shall be entitled to make their own recoverability determinations
with respect to a P&I Advance to be made on the Lead Securitization Note based on the information that they have on hand and
in accordance with the Lead Securitization Servicing Agreement. The Non-Lead Master Servicer, Non-Lead Special Servicer or
Non-Lead Trustee under the Non-Lead Securitization Servicing Agreement, as applicable, shall be entitled to make its own recoverability
determination with respect to a P&I Advance to be made on the Non-Lead Securitization Note based on the information that they
have on hand and in accordance with the Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable,
and the Non-Lead Master Servicer or the Non-Lead Trustee, as applicable, shall be required to notify the other of the amount of
its P&I Advance within two Business Days of making such advance. If the Master Servicer, the Special Servicer or the Trustee,
as applicable (with respect to the Lead Securitization Note) or the Non-Lead Master Servicer, Non-Lead Special Servicer or the
Non-Lead Trustee, as applicable (with respect to the Non-Lead Securitization Note), determines that

 

     -18-

    

    

 

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

 

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

 

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

 

     -19-

    

    

 

collection
account (or equivalent account) established under the Non-Lead Securitization Servicing Agreement for the Non-Lead Securitization
Note Holder’s pro rata share of any such Nonrecoverable Servicing Advances (together with advance interest thereon)
and/or additional trust fund expenses (including compensation due to the Master Servicer and the Special Servicer to the extent
related to the servicing and administration of the Mortgage Loan and the Mortgaged Property);

 

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

 

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

 

(iv)         
Any matter affecting the servicing and administration of the Mortgage Loan that requires delivery of a Rating Agency Confirmation
pursuant to the Lead Securitization Servicing Agreement shall also require delivery of a Rating Agency Confirmation under the Non-Lead
Securitization and Servicing Agreement; and

 

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

 

(d)          
Following the Securitization of one Note but prior to the Securitization of any other particular Note (including any New
Note), all notices, reports, information or other deliverables required to be delivered to a Note Holder pursuant to this Agreement
by the

 

     -20-

    

    

 

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

 

(e)          
The Note A-1 PSA shall contain terms and conditions that are customary for securitization transactions involving
assets similar to the Mortgage Loan and that are otherwise (i) required by the Code relating to the tax elections of the Note A-1
Trust Fund, (ii) required by law or changes in any law, rule or regulation or (iii) requested by the Rating Agencies rating the
Note A-1 Securitization.

 

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

 

(g)           The Non-Lead Securitization Note Holder shall give each of the parties to the Note A-1 PSA, (that will not also be
a party to the Non-Lead Securitization Servicing Agreement), as applicable, notice of the related Securitization in writing (which
may be by e-mail) not less than five (5) Business Days subsequent to the related Securitization Date. Such notice shall contain
contact information for each of the parties to the Non-Lead Securitization Servicing Agreement.

 

(h)           The Lead Securitization Servicing Agreement shall provide that compensating interest payments as defined therein with respect
to the Notes will be allocated by the Master Servicer among each Note, pro rata, in accordance with their respective principal
amounts. The Master Servicer shall remit any compensating interest payment in respect of the Non-Lead Securitization Note to the
Non-Lead Securitization Note Holder.

 

(i)           
The Lead Securitization Servicing Agreement shall provide that (i) customary CREFC® reports related
to the Mortgage Loan and Mortgaged Property are required to be made available to the Non-Lead Securitization Note Holder in
order to permit the Non-Lead Master Servicer, Non-Lead Special Servicer or Non-Lead Trustee to comply in a

 

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timely
manner with their respective reporting obligations under the Lead Securitization Servicing Agreement, (ii) in connection
with (x) any amendment of the Lead Securitization Servicing Agreement, a party to the Lead Securitization Servicing Agreement
is required to provide a copy of the executed amendment to the Non-Lead Depositor and one or more parties to the Non-Lead
Securitization Servicing Agreement (which may be by email), together with a copy of such amendment in EDGAR compatible format,
no later than the effective date of such amendment, and (y) the termination, resignation and/or replacement of the Master
Servicer or Special Servicer, such replacement Master Servicer or Special Servicer, as applicable, is required to provide all
disclosure about itself that is required to be included in Form 8-K no later than the date of effectiveness thereof,
(iii) the Non-Lead Securitization Note Holder is an intended third-party beneficiary of the rights under the Lead
Securitization Servicing Agreement to the extent such rights affect the related Non-Lead Securitization Note or the Non-Lead
Securitization Note Holder, (iv) it shall not be amended in any manner that materially and adversely (or words of similar
import) affects the Non-Lead Securitization Note Holder without the consent of such party, (v) if the Non-Lead Securitization
Note becomes the subject of an “Asset Review” (or such similar term, as defined in the Non-Lead Securitization
Servicing Agreement), the applicable parties to the Lead Securitization Servicing Agreement are required to reasonably cooperate
with the Non-Lead Asset Representations Reviewer or other applicable party to the Non-Lead Securitization Servicing Agreement
in connection with such Asset Review (or a substantially similar provision), including with respect to providing access to related
underlying documents.

 

Section 3.           
Priority of Payments. Each Note shall be of equal priority, and no portion of any Note shall have priority or preference
over any portion of any other Note or security therefor. All amounts tendered by the Mortgage Loan Borrower or otherwise available
for payment on or with respect to or in connection with the Mortgage Loan or the Mortgaged Property or amounts realized as proceeds
thereof, whether received in the form of Monthly Payments, the Balloon Payment, Liquidation Proceeds, proceeds under any guaranty,
letter of credit or other collateral or instrument securing the Mortgage Loan, Condemnation Proceeds, or Insurance Proceeds (other
than proceeds, awards or settlements to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgage
Loan Borrower in accordance with the terms of the Mortgage Loan Documents), but excluding (x) all amounts for required reserves
or escrows required by the Mortgage Loan Documents (to the extent, in accordance with the terms of the Mortgage Loan Documents)
to be held as reserves or escrows or received as reimbursements on account of recoveries in respect of property protection expenses
or Servicing Advances then due and payable or reimbursable to the Trustee or any Servicer under the Lead Securitization Servicing
Agreement and (y) all amounts that are then due, payable or reimbursable (except for (i) any P&I Advances (and interest
thereon) made with respect to each Note which may only be reimbursed out of payments and collections allocable to each Note, as
applicable and (ii) any Servicing Fees due to the Master Servicer in excess of the Non-Lead Securitization Note’s pro
rata share of that portion of such Servicing Fees calculated at the “primary servicing fee rate” applicable to
the Mortgage Loan as set forth in the Lead Securitization Servicing Agreement) to any Servicer, with respect to the Mortgage Loan
pursuant to the Lead Securitization Servicing Agreement (including without limitation, any additional trust fund expenses under
the Lead Securitization Servicing Agreement relating to the Mortgage Loan (but subject to second paragraph of Section 5(d)
hereof) reimbursable to, or payable by, such parties and any Special Servicing Fees, Liquidation Fees, Workout Fees, Default Charges

 

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(to
the extent provided in the immediately following paragraph) and any other additional compensation payable pursuant to the Lead
Securitization Servicing Agreement), shall be applied by the Lead Securitization Note Holder (or its designee) to the Notes on
a Pro Rata and Pari Passu Basis.

 

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

 

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

 

Section 5.           
Administration of the Mortgage Loan.

 

(a)           
Subject to this Agreement (including but not limited to Section 5(c)) and the Lead Securitization Servicing Agreement
and subject to the rights and consents, where required, of the Controlling Note Holder Representative, the Lead Securitization
Note Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the Lead Securitization Note Holder)
shall have the sole and exclusive authority with respect to the administration of, and exercise of rights and remedies with respect
to, the Mortgage Loan, including, without limitation, the sole authority to modify or waive any of the terms of the Mortgage Loan
Documents or consent to any action or failure to act by the Mortgage Loan

 

     -23-

    

    

 

Borrower
or any other party to the Mortgage Loan Documents, call or waive any Event of Default, accelerate the Mortgage Loan or institute
any foreclosure action or other remedy, and no Non-Lead Securitization Note Holder shall have voting, consent or other rights
whatsoever except as explicitly set forth herein with respect to the Lead Securitization Note Holder’s administration of,
or exercise of its rights and remedies with respect to, the Mortgage Loan. Subject to this Agreement and the Lead Securitization
Servicing Agreement, the Non-Lead Securitization Note Holder agrees that it shall have no right to, and hereby presently and irrevocably
assigns and conveys to the Note A-1 Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf
of the Lead Securitization Note Holder from and after the Note A-1 Securitization Date) the rights, if any, that such Note Holder
has prior to the Note A-1 Securitization Date to, and the Non-Lead Securitization Note Holder hereby presently and irrevocably
assigns and conveys to the Note A-1 Holder (or the Master Servicer, the Special Servicer or the Trustee acting on behalf of the
Lead Securitization Note Holder from and after the Note A-1 Securitization Date) the rights, if any, that such Note Holder has
from and after the Note A-1 Securitization Date, to, (i) call or cause the Lead Securitization Note Holder to call an Event
of Default under the Mortgage Loan, or (ii) exercise any remedies with respect to the Mortgage Loan or the Mortgage Loan
Borrower, including, without limitation, filing or causing the Lead Securitization Note Holder to file any bankruptcy petition
against the Mortgage Loan Borrower. The Lead Securitization Note Holder (or the Master Servicer, the Special Servicer or the Trustee
acting on behalf of the Lead Securitization Note Holder) shall not have any fiduciary duty to the Non-Lead Securitization Note
Holder in connection with the administration of the Mortgage Loan (but the foregoing shall not relieve the Lead Securitization
Note Holder from the obligation to make any disbursement of funds as set forth herein or its obligation to follow the Servicing
Standard (in the case of the Master Servicer or the Special Servicer) or any liability for failure to do so).

 

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

 

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delinquency
on the affected Mortgage Loan, the occupancy level and physical condition of the related Mortgaged Property and the state of the
local economy. The Trustee may conclusively rely on the opinion of an Independent appraiser or other Independent expert in real
estate matters retained by the Trustee at the expense of the Holders in connection with making such determination. Notwithstanding
the foregoing, the Lead Securitization Note Holder (or the Special Servicer acting on behalf of the Lead Securitization Note Holder)
shall not be permitted to sell the Mortgage Loan without the written consent of the Non-Lead Securitization Note Holder (unless
50% or more of Note A-1 or Note A-2, as applicable (or the class of securities issued in the related Non-Lead Securitization
designated as the “controlling class” or such other class(es) otherwise assigned the rights to exercise the rights
of the “Controlling Note Holder”) is held by the Mortgage Loan Borrower or an Affiliate of the Mortgage Loan
Borrower) unless the Special Servicer has delivered to the Non- Lead Securitization Note Holder: (a) at least fifteen (15) Business
Days prior written notice of any decision to attempt to sell the Mortgage Loan; (b) at least ten (10) days prior to the proposed
sale date, a copy of each bid package (together with any amendments to such bid packages) received by the Special Servicer in
connection with any such proposed sale, (c) at least ten (10) days prior to the proposed sale date, a copy of the most recent
Appraisal for the Mortgage Loan, and any documents in the Servicing File requested by the Non-Lead Securitization Note Holder
and (d) until the sale is completed, and a reasonable period of time (but no less time than is afforded to other offerors and
the related Directing Certificateholder (or other similar term)) prior to the proposed sale date, all information and other documents
being provided to other offerors and all leases or other documents that are approved by the Master Servicer or the Special Servicer
in connection with the proposed sale; provided that any majority holder of the Non-Lead Securitization Note or the related Directing
Certificateholder may waive any of the delivery or timing requirements set forth in this sentence. Subject to the foregoing, each
of the Controlling Note Holder, the Controlling Note Holder Representative, the Non-Controlling Note Holders and any Non-Controlling
Note Holder Representative shall be permitted to bid at any sale of the Mortgage Loan.

 

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

 

The authority
of the Lead Securitization Note Holder to sell the Non-Lead Securitization Note, and the obligations of any other Note Holder to
execute and deliver instruments or deliver the related Note upon request of the Lead Securitization Note Holder, shall terminate
and cease to be of any further force or effect upon the date, if any, upon which the Lead Securitization Note is repurchased by
the holder of such Lead Securitization Note that

 

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

 

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

 

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

 

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Representative)
requests consultation with respect to any such Major Decisions or the implementation of any recommended actions outlined in an
Asset Status Report relating to the Mortgage Loan, and consider alternative actions recommended by the Non-Controlling Note Holder
(or its Non-Controlling Note Holder Representative); provided that after the expiration of a period of ten (10) Business
Days from the delivery to the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) by the Lead Securitization
Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) of written notice of a proposed action, together
with copies of the notice, information and report required to be provided to the Lead Securitization Directing Certificateholder,
the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) shall no longer be obligated
to consult with the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative), whether or not the Non-Controlling
Note Holder (or its Non-Controlling Note Holder Representative) has responded within such ten (10) Business Day period (unless,
the Lead Securitization Note Holder (or the Master Servicer or the Special Servicer acting on its behalf) proposes a new course
of action that is materially different from the action previously proposed, in which case such ten (10) Business Day period shall
be deemed to begin anew from the date of such proposal and delivery of all information relating thereto). Notwithstanding the
consultation rights of the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative) set forth in the immediately
preceding sentence, the Lead Securitization Note Holder (or Master Servicer or Special Servicer, acting on its behalf) may take
any Major Decision or any action set forth in the Asset Status Report before the expiration of the aforementioned ten (10) Business
Day period if the Lead Securitization Note Holder (or Master Servicer or Special Servicer, as applicable) determines that immediate
action with respect thereto is necessary to protect the interests of the Note Holders. In no event shall the Lead Securitization
Note Holder (or Master Servicer or Special Servicer, acting on its behalf) be obligated at any time to follow or take any alternative
actions recommended by the Non-Controlling Note Holder (or its Non-Controlling Note Holder Representative).

 

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

 

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

 

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refrain
from exercising any powers or rights which the Note Holders may have under the Mortgage Loan Documents, if any such action would
constitute a “significant modification” of the Mortgage Loan, within the meaning of Section 1.860G-2(b) of the
regulations of the United States Department of the Treasury, more than three (3) months after the startup day of the REMIC which
includes the Notes (or any portion thereof). Each Note Holder agrees that the provisions of this paragraph shall be effected by
compliance with any REMIC provisions in the Lead Securitization Servicing Agreement relating to the administration of the Mortgage
Loan.

 

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

 

Section 6.           
Rights of the Controlling Note Holder.

 

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

 

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Representative
until they receive such information from the Controlling Note Holder. The Controlling Note Holder agrees to inform each such Servicer,
Operating Advisor or Trustee of the then-current Controlling Note Holder Representative. Neither the Controlling Note Holder Representative
nor the Controlling Note Holder will have any liability to any other Note Holder or any other Person for any action taken, or
for refraining from the taking of any action or the giving of any consent or the failure to give any consent pursuant to this
Agreement or the Lead Securitization Servicing Agreement, or errors in judgment, absent any loss, liability or expense incurred
by reason of its willful misfeasance, bad faith or gross negligence. The Note Holders agree that the Controlling Note Holder Representative
and the Controlling Note Holder (whether acting in place of the Controlling Note Holder Representative when no Controlling Note
Holder Representative shall have been appointed hereunder or otherwise exercising any right, power or privilege granted to the
Controlling Note Holder hereunder) may take or refrain from taking actions, or give or refrain from giving consents, that favor
the interests of one Note Holder over any other Note Holder, and that the Controlling Note Holder Representative may have special
relationships and interests that conflict with the interests of the Non-Controlling Note Holder and, absent willful misfeasance,
bad faith or gross negligence on the part of the Controlling Note Holder Representative or the Controlling Note Holder, as the
case may be, agree to take no action against the Controlling Note Holder Representative, the Controlling Note Holder or any of
their respective officers, directors, employees, principals or agents as a result of such special relationships or interests,
and that neither the Controlling Note Holder Representative nor the Controlling Note Holder will be deemed to have been grossly
negligent or reckless, or to have acted in bad faith or engaged in willful misfeasance or to have recklessly disregarded any exercise
of its rights by reason of its having acted or refrained from acting, or having given any consent or having failed to give any
consent, solely in the interests of any Note Holder.

 

(b)           The Non-Controlling Note Holder shall have the right at any time to appoint a representative in connection with the exercise
of the Non-Controlling Note Holder’s rights and obligations with respect to the Mortgage Loan (with respect to such Note
Holder, the “Non-Controlling Note Holder Representative”). All of the provisions relating to Controlling Note
Holder and the Controlling Note Holder Representative set forth in the first paragraph of this Section 6(a) (except those
contained in the last sentence thereof) and the second paragraph of this Section 6(a) shall apply to the Non-Controlling Note
Holder and its Non-Controlling Note Holder Representative mutatis mutandis.

 

The Controlling Note
Holder shall be entitled to exercise the rights and powers granted to the Controlling Note hereunder and the rights and powers
granted to the Directing Certificateholder or similar party under, and as defined in, the Lead Securitization Servicing Agreement
with respect to the Mortgage Loan. In addition, the Controlling Note Holder shall be entitled to advise (1) the Special Servicer
with respect to all matters related to a “Specially Serviced Mortgage Loan” (as defined in the Lead Securitization
Servicing Agreement) and (2) the Special Servicer with respect to all matters for which the Master Servicer must obtain the consent
or deemed consent of the Special Servicer, and, except as set forth below (i) the Master Servicer shall not be permitted to implement
any Major Decision unless it has obtained the prior written consent of the Special Servicer and (ii) the Special Servicer shall
not be permitted to consent to the Master Servicer’s implementing any Major Decision nor will the Special Servicer itself
be permitted to implement any Major Decision as to which the Controlling Note Holder has

 

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objected
in writing within ten (10) Business Days (or thirty (30) days with respect to an Acceptable Insurance Default) after receipt of
the written recommendation and analysis and such additional information requested by the Controlling Note Holder as may be necessary
in the reasonable judgment of the Controlling Note Holder in order to make a judgment with respect to such Major Decision. The
Controlling Note Holder may also direct the Special Servicer to take, or to refrain from taking, such other actions with respect
to the Mortgage Loan as the Controlling Note Holder may deem advisable.

 

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

 

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

 

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

 

The Controlling Note
Holder shall have no liability to the other Note Holders or any other party for any action taken, or for refraining from the taking
of any action or the giving of any consent or the failure to give any consent pursuant to this Agreement or the Lead Securitization
Servicing Agreement, or errors in judgment, absent any loss, liability or expense incurred by reason of its willful misfeasance,
bad faith or gross negligence. The Note Holders agree that the Controlling Note Holder may take or refrain from taking actions,
or give or refrain from giving consents, that favor the interests of one Note Holder over the other Note Holder, and that the Controlling
Note Holder may have special relationships and interests that conflict with the interests of another Note Holder and, absent willful
misfeasance, bad faith or gross negligence on the part of the Controlling Note Holder agree to take no action against the

 

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Controlling
Note Holder or any of its officers, directors, employees, principals or agents as a result of such special relationships or interests,
and that the Controlling Note Holder shall not be deemed to have been grossly negligent or reckless, or to have acted in bad faith
or engaged in willful misfeasance or to have recklessly disregarded any exercise of its rights by reason of its having acted or
refrained from acting, or having given any consent or having failed to give any consent, solely in the interests of any Note Holder.

 

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

 

Section 8.           
Payment Procedure.

 

(a)          
The Lead Securitization Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms
of the Lead Securitization Servicing Agreement, will deposit or cause to be deposited all payments allocable to the Notes to the
Collection

 

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Account
and/or Loan Combination Custodial Account (each as defined in the Lead Securitization Servicing Agreement) pursuant to and in
accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Note Holder (or the Master Servicer acting
on its behalf) shall deposit such amounts to the applicable account within one Business Day after receipt of properly identified
funds by the Lead Securitization Note Holder (or the Master Servicer acting on its behalf) from or on behalf of the Mortgage Loan
Borrower (provided, however, that, to the extent any such amounts are received after 2:00 p.m. Eastern time
on any given Business Day, the Lead Securitization Note Holder (or Master Servicer acting on its behalf) shall use commercially
reasonable efforts to deposit such amounts into the applicable account within one (1) Business Day of receipt thereof but,
in any event, the Lead Securitization Note Holder (or Master Servicer acting on its behalf) shall deposit such amounts into the
applicable account within two (2) Business Days of receipt thereof) and shall remit payments due on the Non-Lead Securitization
Note to the Non-Lead Securitization Note Holder (or the Non-Lead Master Servicer on its behalf) no later than one Business
Day following the “Determination Date” under the Non-Lead Securitization Servicing Agreement.

 

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

 

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

 

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

 

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

 

Section 9.           
Limitation on Liability of the Note Holders. Each Note Holder shall have no liability to any other Note Holder with
respect to its Note except with respect to losses actually suffered due to the gross negligence, willful misconduct or breach of
this Agreement on the part of such Note Holder.

 

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

 

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

 

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

 

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

 

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

 

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Section 14.           
Sale of the Notes.

 

Each Note Holder
agrees that it will not sell, assign, transfer, pledge, syndicate, hypothecate, contribute, encumber or otherwise dispose of all
or any portion of its respective Note (a “Transfer”) except to a Qualified Institutional Lender. Promptly after
the Transfer, the non-transferring Note Holders shall be provided with (x) a representation from a transferee or the applicable
Note Holder certifying that such transferee is a Qualified Institutional Lender (except in the case of a Transfer (and the related
pooling and servicing or similar agreement requires the parties thereto to comply with this Agreement) in accordance with the immediately
following sentence) and (y) a copy of the assignment and assumption agreement referred to in Section 15. If a Note Holder
intends to Transfer its respective Note, or any portion thereof, to an entity that is not a Qualified Institutional Lender, it
must first obtain (1) prior to a Securitization, the consent of the non-transferring Note Holders or, (2) after a Securitization
of the non-transferring Note Holders’ Note, Rating Agency Confirmation. Notwithstanding the foregoing, without the non-transferring
Note Holder’s prior consent (which will not be unreasonably withheld), and, if the non-transferring Note Holder’s Note
is held in a Securitization Trust, without a confirmation in writing from each Rating Agency that such Transfer will not result
in a qualification, downgrade or withdrawal of its then current rating of the securities issued pursuant to the related Securitization,
no Note Holder shall Transfer all or any portion of its Note (or a participation interest in such Note) to the Mortgage Loan Borrower
or a Mortgage Loan Borrower Related Party and any such Transfer shall be absolutely null and void and shall vest no rights in the
purported transferee. The transferring Note Holder agrees that it will pay the expenses of the non-transferring Note Holder (including
all expenses of the Master Servicer, the Special Servicer and the Trustee) and all expenses relating to the confirmation from the
Rating Agencies in connection with any such Transfer. Notwithstanding the foregoing, each Note Holder shall have the right, without
the need to obtain the consent of any other Note Holder, the Rating Agencies or any other Person, to Transfer 49% or less (in the
aggregate) of its Note or any beneficial interest in a Note. None of the provisions of this Section 14(a) shall apply in the
case of (1) a sale of Note A-1 together with the Non-Lead Securitization Note, in accordance with the terms and conditions
of the Lead Securitization Servicing Agreement or (2) a transfer by the Special Servicer, in accordance with the terms and conditions
of the Lead Securitization Servicing Agreement, of the Mortgage Loan or the Mortgaged Property, upon the Mortgage Loan becoming
a Defaulted Loan, to a single member limited liability or limited partnership, 100% of the equity interest in which is owned directly
or indirectly, through one or more single member limited liability companies or limited partnerships, by the Lead Securitization
Trust.

 

For the purposes
of this Agreement, if any Rating Agency shall, in writing, waive, decline or refuse to review or otherwise engage any request for
a confirmation hereunder from such Rating Agency that a proposed action will not result in a qualification, downgrade or withdrawal
of its then current rating of the securities issued pursuant to the related Securitization, such waiver, declination, or refusal
shall be deemed to eliminate, for such request only, the condition that such confirmation by such Rating Agency (only) be obtained
for purposes of this Agreement. For purposes of clarity, any such waiver, declination or refusal to review or otherwise engage
in any request for such confirmation hereunder shall not be deemed a waiver, declination or refusal to review or otherwise engage
in any subsequent request for such Rating Agency confirmation hereunder and the condition for such Rating

 

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Agency
confirmation pursuant to this Agreement for any subsequent request shall apply regardless of any previous waiver, declination
or refusal to review or otherwise engage in such prior request.

 

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

 

(b)            Notwithstanding any other provision hereof, any Note Holder may pledge (a “Pledge”) its Note to any entity
(other than the Mortgage Loan Borrower or any Affiliate thereof) which has extended a credit facility to such Note Holder and that
is either a Qualified Institutional Lender or a financial institution whose long-term unsecured debt is rated at least “A”
(or the equivalent) or better by each Rating Agency (a “Note Pledgee”), on terms and conditions set forth in
this Section 14(c), it being further agreed that a financing provided by a Note Pledgee to a Note Holder or any person which
Controls such Note that is secured by its Note and is structured as a repurchase arrangement, shall qualify as a “Pledge”
hereunder, provided that a Note Pledgee which is not a Qualified Institutional Lender may not take title to the pledged
Note without a Rating Agency Confirmation. Upon written notice by the applicable Note Holder to the other Note Holder and any Servicer
that a Pledge has been effected (including the name and address of the applicable Note Pledgee), the other Note Holder agrees to
acknowledge receipt of such notice and thereafter agrees: (i) to give the Note Pledgee written notice of any default by the
pledging Note Holder in respect of its obligations under this Agreement of which default such Note Holder has actual knowledge;
(ii) to allow such Note Pledgee a period of ten (10) days to cure a default by the pledging Note Holder in respect of
its obligations to the other Note Holder hereunder, but such Note Pledgee shall not be obligated to cure any such default; (iii) that
no amendment, modification, waiver or termination of this Agreement shall be effective against such Note Pledgee without the written
consent of such Note Pledgee, which consent shall not be unreasonably withheld, conditioned or delayed; (iv) that such other
Note Holder shall give to such Note Pledgee copies of any notice of default under this Agreement simultaneously with the giving
of same to the pledging Note Holder; (v) that such other Note Holder shall deliver to Note Pledgee such estoppel certificate(s)
as Note Pledgee shall reasonably request, provided that any such certificate(s) shall be in a form reasonably satisfactory
to such other Note Holder; and (vi) that, upon written notice (a “Redirection Notice”) to the other Note
Holder and any Servicer by such Note Pledgee that the pledging Note Holder is in default, beyond any applicable cure periods, under
the pledging Note Holder’s obligations to such Note Pledgee pursuant to the applicable credit agreement between the pledging
Note Holder and such Note Pledgee (which notice need not be joined in or confirmed by the pledging Note Holder), and until such
Redirection Notice is withdrawn or rescinded by such Note Pledgee, Note Pledgee shall be entitled to receive any payments that
any Note Holder or Servicer would otherwise be obligated to pay to the pledging Note Holder from time to time pursuant to this
Agreement or the Lead Securitization Servicing Agreement. Any pledging Note Holder hereby unconditionally and absolutely releases
the

 

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other
Note Holder and any Servicer from any liability to the pledging Note Holder on account of such other Note Holder’s or Servicer’s
compliance with any Redirection Notice believed by any Servicer or such other Note Holder to have been delivered by a Note Pledgee.
Note Pledgee shall be permitted to exercise fully its rights and remedies against the pledging Note Holder to such Note Pledgee
(and accept an assignment in lieu of foreclosure as to such collateral), in accordance with applicable law and this Agreement.
In such event, the Note Holders and any Servicer shall recognize such Note Pledgee (and any transferee other than the Mortgage
Loan Borrower or any Affiliate thereof which is also a Qualified Institutional Lender at any foreclosure or similar sale held
by such Note Pledgee or any transfer in lieu of foreclosure), and its successor and assigns, as the successor to the pledging
Note Holder’s rights, remedies and obligations under this Agreement, and any such Note Pledgee or Qualified Institutional
Lender shall assume in writing the obligations of the pledging Note Holder hereunder accruing from and after such Transfer (i.e.,
realization upon the collateral by such Note Pledgee) and agrees that the servicing of the Mortgage Loan shall be subject to the
terms and provisions of this Agreement. The rights of a Note Pledgee under this Section 14(c) shall remain effective as to
any Note Holder (and any Servicer) unless and until such Note Pledgee shall have notified any such Note Holder (and any Servicer,
as applicable) in writing that its interest in the pledged Note has terminated.

 

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

 

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

 

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

 

(iii)         
Such Note Holder pledges its interest in its Note to the Conduit as collateral for the Conduit Inventory Loan;

 

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

 

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

 

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

 

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

 

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

 

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

 

(a)           
SUBMITS FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT, OR FOR RECOGNITION AND
ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF, TO THE NON-EXCLUSIVE GENERAL JURISDICTION OF THE COURTS OF THE

 

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STATE
OF NEW YORK, THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND APPELLATE COURTS FROM
ANY THEREOF;

 

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

 

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

 

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

 

Section 18.         
Modifications. This Agreement shall not be modified, cancelled or terminated except by an instrument in writing signed
by each Note Holder. Additionally, for as long as any Note is contained in a Securitization Trust, the Note Holders shall not amend
or modify this Agreement without first receiving a written confirmation from each Rating Agency that such amendment or modification
will not result in a qualification, withdrawal or downgrade of its then current ratings of the securities issued in connection
with a Securitization; provided that no such confirmation from the Rating Agencies shall be required in connection with
a modification (i) to cure any ambiguity, to correct or supplement any provisions herein that may be defective or inconsistent
with any other provisions herein or with the Lead Securitization Servicing Agreement, (ii) to make other provisions with respect
to matters or questions arising under this Agreement, which shall not be inconsistent with the provisions of this Agreement, and
(iii) if and to the extent that it would be deemed given or not required pursuant to the definition of Rating Agency Confirmation
in the Lead Securitization Servicing Agreement and/or Non-Lead Securitization Servicing Agreement, as applicable.

 

Section 19.        
Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon
the parties hereto and their respective successors and assigns. Except as provided herein, including without limitation, with respect
to the Trustee, Certificate Administrator, Operating Advisor, Master Servicer and Special Servicer, and the Non-Lead Master Servicer,
Non-Lead Special Servicer or Non-Lead Trustee, none of the provisions of this Agreement shall be for the benefit of or enforceable
by any Person not a party hereto. Subject to Section 14 and Section 15, each Note Holder may assign or delegate its rights
or obligations under this Agreement. Upon any such assignment, the assignee shall be entitled to all rights and benefits of the
applicable Note Holder hereunder.

 

     -39-

    

    

 

Section 20.         Counterparts. This Agreement may be executed in any number of counterparts and all of such counterparts shall together
constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement in Portable Document
Format (PDF) or by facsimile transmission shall be effective as delivery of a manually executed original counterpart of this Agreement.

 

Section 21.         Captions. The titles and headings of the paragraphs of this Agreement have been inserted for convenience of reference
only and are not intended to summarize or otherwise describe the subject matter of the paragraphs and shall not be given any consideration
in the construction of this Agreement.

 

Section 22.          Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective
and valid under applicable law, but if any provision of this Agreement shall be prohibited by or invalid under applicable laws,
such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Agreement.

 

Section 23.          Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the
subject matter contained in this Agreement and supersedes all prior agreements, understandings and negotiations between the parties.

 

Section 24.          Withholding Taxes. (a)  If the Lead Securitization Note Holder or the Mortgage Loan Borrower shall be required
by law to deduct and withhold Taxes from interest, fees or other amounts payable to the Non-Lead Securitization Note Holder with
respect to the Mortgage Loan as a result of the Non-Lead Securitization Note Holder constituting a Non-Exempt Person, the Lead
Securitization Note Holder, in its capacity as servicer, shall be entitled to do so with respect to the Non-Lead Securitization
Note Holder’s interest in such payment (all withheld amounts being deemed paid to such Note Holder), provided that
the Lead Securitization Note Holder shall furnish the Non-Lead Securitization Note Holder with a statement setting forth the amount
of Taxes withheld, the applicable rate and other information which may reasonably be requested for purposes of assisting such Note
Holder to seek any allowable credits or deductions for the Taxes so withheld in each jurisdiction in which such Note Holder is
subject to tax.

 

(b)           Each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) shall and hereby agrees
to indemnify the Lead Securitization Note Holder against and hold the Lead Securitization Note Holder harmless from and against
any Taxes, interest, penalties and attorneys’ fees and disbursements arising or resulting from any failure of the Lead Securitization
Note Holder to withhold Taxes from payment made to such Note Holder in reliance upon any representation, certificate, statement,
document or instrument made or provided by such Note Holder to the Lead Securitization Note Holder in connection with the obligation
of the Lead Securitization Note Holder to withhold Taxes from payments made to such Note Holder, it being expressly understood
and agreed that (i) the Lead Securitization Note Holder shall be absolutely and unconditionally entitled to accept any such
representation, certificate, statement, document or instrument as being true and correct in all respects and to fully rely thereon
without any obligation or responsibility to investigate or to

 

     -40-

    

    

 

make
any inquiries with respect to the accuracy, veracity, correctness or validity of the same and (ii) such Note Holder, upon
request of the Lead Securitization Note Holder and at its sole cost and expense, shall defend any claim or action relating to
the foregoing indemnification using counsel selected by the Lead Securitization Note Holder.

 

(c)           
Each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder) represents (for the benefit
of the Mortgage Loan Borrower) that it is not a Non-Exempt Person and that neither the Lead Securitization Note Holder nor the
Mortgage Loan Borrower is obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan
or otherwise pursuant to this Agreement. Contemporaneously with the execution of this Agreement and from time to time as necessary
during the term of this Agreement, each Note Holder (to the extent it is not the same entity as the Lead Securitization Note Holder)
shall deliver to the Lead Securitization Note Holder or Servicer, as applicable, evidence satisfactory to the Lead Securitization
Note Holder substantiating that such Note Holder is not a Non-Exempt Person and that the Lead Securitization Note Holder is not
obligated under applicable law to withhold Taxes on sums paid to it with respect to the Mortgage Loan or otherwise under this Agreement.
Without limiting the effect of the foregoing, (i) if a Note Holder is created or organized under the laws of the United States,
any state thereof or the District of Columbia, it shall satisfy the requirements of the preceding sentence by furnishing to the
Lead Securitization Note Holder an Internal Revenue Service Form W-9 and (ii) if a Note Holder is not created or organized
under the laws of the United States, any state thereof or the District of Columbia, and if the payment of interest or other amounts
by the Mortgage Loan Borrower is treated for United States income tax purposes as derived in whole or part from sources within
the United States, such Note Holder shall satisfy the requirements of the preceding sentence by furnishing to the Lead Securitization
Note Holder Internal Revenue Service Form W-8ECI, Form W-8IMY (with appropriate attachments) or Form W-8BEN, or successor forms,
as may be required from time to time, duly executed by such Note Holder, as evidence of such Note Holder’s exemption from
the withholding of United States tax with respect thereto. The Lead Securitization Note Holder shall not be obligated to make any
payment hereunder with respect to the Non-Lead Securitization Note or otherwise until the holder of such Note shall have furnished
to the Lead Securitization Note Holder requested forms, certificates, statements or documents.

 

Section 25.        
Custody of Mortgage Loan Documents. Prior to the Note A-1 Securitization Date, the originals of all of the Mortgage
Loan Documents will be held by the Initial Agent on behalf of the registered holders of the Notes. On and after the Note A-1
Securitization Date, the originals of all of the Mortgage Loan Documents (other than the Non-Lead Note) will be transferred to
and held in the name of the trustee (and held by a duly appointed custodian therefor) under the Note A-1 PSA, on behalf of
the registered holders of the Notes.

 

Section 26.         
Cooperation in Securitization.

 

(a)           
Each Note Holder acknowledges that any Note Holder may elect, in its sole discretion, to include its Note in a Securitization.
In connection with a Securitization and subject to the terms of the preceding sentence, at the request of the Lead Securitization
Note Holder, the Non-Lead Securitization Note Holder shall use reasonable efforts, at the Lead

 

     -41-

    

    

 

Securitization
Note Holder’s expense, to satisfy, and to cooperate with the Lead Securitization Note Holder in attempting to cause the
Mortgage Loan Borrower to satisfy, the market standards to which the Lead Securitization Note Holder customarily adheres or that
may be reasonably required in the marketplace or by the Rating Agencies in connection with the Securitization, including, entering
into (or consenting to, as applicable) any modifications to this Agreement or the Mortgage Loan Documents and to cooperate with
the Lead Securitization Note Holder in attempting to cause the Mortgage Loan Borrower to execute such modifications to the Mortgage
Loan Documents, in any such case, as may be reasonably requested by the Rating Agencies to effect the Securitization; provided,
however, that either in connection with the Lead Securitization or otherwise at any time prior to the Lead Securitization,
the Non-Lead Securitization Note Holder shall not be required to modify or amend this Agreement or any Mortgage Loan Documents
(or consent to such modification, as applicable) in connection therewith, if such modification or amendment would (i) change
the interest allocable to, or the amount of any payments due to or priority of such payments to, the Non-Lead Securitization Note
Holder or (ii) materially increase the Non-Lead Securitization Note Holder’s obligations or materially decrease the
Non-Lead Securitization Note Holder’s rights, remedies or protections. In connection with the Lead Securitization, the Non-Lead
Securitization Note Holder shall provide for inclusion in any disclosure document relating to the Lead Securitization such information
concerning the Non-Lead Securitization Note Holder and its Non-Lead Securitization Note as the Lead Securitization Note Holder
reasonably determines to be necessary or appropriate, and the Non-Lead Securitization Note Holder shall, at the Lead Securitization
Note Holder’s expense, cooperate with the reasonable requests of each Rating Agency and the Lead Securitization Note Holder
in connection with the Lead Securitization (including, without limitation, reasonably cooperating with the Lead Securitization
Note Holder (without any obligation to make additional representations and warranties) to enable the Lead Securitization Note
Holder to make all necessary certifications and deliver all necessary opinions (including customary securities law opinions) in
connection with the Mortgage Loan and the Lead Securitization), as well as in connection with all other matters and the preparation
of any offering documents thereof and to review and respond reasonably promptly with respect to any information relating to the
Non-Lead Securitization Note Holder and its Non-Lead Securitization Note in any Securitization document. The Non-Lead Securitization
Note Holder acknowledges that the information provided by it to the Lead Securitization Note Holder may be incorporated into the
offering documents for the Lead Securitization. The Lead Securitization Note Holder and each Rating Agency shall be entitled to
rely on the information supplied by, or on behalf of, the Non-Lead Securitization Note Holder. The Lead Securitization Note Holder
will reasonably cooperate with the Non-Lead Securitization Note Holder by providing all information reasonably requested that
is in the Lead Securitization Note Holder’s possession in connection with the Non-Lead Securitization Note Holder’s
preparation of disclosure materials in connection with a Securitization.

 

Upon request, the Lead
Securitization Note Holder shall deliver to the Non-Lead Securitization Note Holder drafts of the preliminary and final Lead Securitization
offering memoranda, prospectus supplement, free writing prospectus and any other disclosure documents and the Lead Securitization
Servicing Agreement and provide reasonable opportunity to review and comment on such documents.

 

     -42-

    

    

 

Section 27.         Notices. All notices required hereunder shall be given by (i)  facsimile transmission (during business hours)
if the sender on the same day sends a confirming copy of such notice by reputable overnight delivery service (charges prepaid),
(ii) reputable overnight delivery service (charges prepaid) or (iii) certified United States mail, postage prepaid return
receipt requested, and addressed to the respective parties at their addresses set forth on Exhibit B hereto, or at such
other address as any party shall hereafter inform the other party by written notice given as aforesaid. All written notices so
given shall be deemed effective upon receipt.

 

Section 28.         
Broker. Each Note Holder represents to each other that no broker was responsible for bringing about this transaction.

 

Section 29.         
Certain Matters Affecting the Agent.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 30.         
Agency. RESERVED.

 

Section 31.        
Resignation of Agent. The Agent may resign at any time on ten (10) days’ prior notice, so long as a successor
Agent, reasonably satisfactory to the Note Holders (it being agreed that a Servicer, the Certificate Administrator or the Trustee
in a Securitization is

 

     -43-

    

    

 

satisfactory
to the Note Holders), has agreed to be bound by this Agreement and perform the duties of the Agent hereunder. SG, as Initial Agent,
may transfer its rights and obligations to a Servicer, the Certificate Administrator or the Trustee, as successor Agent, at any
time without the consent of any Note Holder. Notwithstanding the foregoing, Note Holders hereby agree that, simultaneously with
the closing of the Lead Securitization, the Master Servicer shall be deemed to have been automatically appointed as the successor
Agent under this Agreement in place of SG without any further notice or other action. The termination or resignation of such Master
Servicer, as Master Servicer under the Lead Securitization Servicing Agreement, shall be deemed a termination or resignation of
such Master Servicer as Agent under this Agreement and any successor Master Servicer shall be deemed to have been automatically
appointed as the successor Agent under this Agreement in place thereof without any further notice or other action.

 

Section 32.          Resizing. Notwithstanding any other provision of this Agreement, for so long as SG or an affiliate thereof (a “SG Entity”)
is the owner of the Non-Lead Securitization Note (the “Owned Note”), such SG Entity shall have the right,
subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated notes
or additional notes (in either case “New Notes”) reallocating the principal of the Owned Note to such New Notes;
or severing the Owned Note into one or more further “component” notes in the aggregate principal amount equal to the
then outstanding principal balance of the Owned Note provided that (i) the aggregate principal balance of all outstanding New Notes
following such amendments is no greater than the aggregate principal of the Owned Note prior to such amendments, (ii) all Notes
continue to have the same weighted average interest rate as the Notes prior to such amendments, (iii) all Notes pay pro rata and
on a pari passu basis and such reallocated or component notes shall be automatically subject to the terms of this Agreement,
(iv) the SG Entity holding the New Notes shall notify the Lead Securitization Note Holder, the Master Servicer, the Special
Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations and principal amounts, and (v)
the execution of such amendments and New Notes does not violate the Servicing Standard. To the extent that the Owned Note is Note
A-1, the SG Entity shall be entitled to designate one of the New Notes to be treated as Note A-1 for purposes of the
determining the Controlling Note Holder, Lead Securitization, Lead Securitization Note, Note A-1 PSA, Note A-1 Securitization
and Note A-1 Securitization Date hereunder. If the Lead Securitization Note Holder so requests, the SG Entity holding
the New Notes (and any subsequent holder of such Notes) shall execute a confirmation of the continuing applicability of this Agreement
to the New Notes, as so modified. Except for the foregoing reallocation and for modifications pursuant to the Lead Securitization
Servicing Agreement (as discussed in Section 5), no Note may be modified or amended without the consent of its holder and
the consent of the holder of the other Note. In connection with the foregoing (provided the conditions set forth in (i) through
(v) above are satisfied, with respect to (i) through (iv), as certified by the SG Entity, on which certification the Master
Servicer can rely), the Master Servicer is hereby authorized and directed to execute amendments to the Mortgage Loan Documents
and this Agreement on behalf of any or all of the Note Holders, as applicable, solely for the purpose of reflecting such reallocation
of principal. If more than one New Note is created hereunder, for purposes of exercising the rights of the Non-Controlling Note
Holder hereunder, the Non-Controlling Note Holder of such New Notes shall be as provided in the definition of such term in this
Agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

     -44-

    

    

 

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

 

	 	SOCIÉTÉ GÉNÉRALE, as Initial Note A-1 Holder
	 	 	 
	 	By:	/s/ Kevin Kelley
	 	 	Name: Kevin Kelley
	 	 	Title: Director

 

	 	SOCIÉTÉ GÉNÉRALE, as Initial Note A-2 Holder
	 	 	 
	 	By:	/s/ Kevin Kelley
	 	 	Name: Kevin Kelley
	 	 	Title: Director

 

(Agreement
Between Note Holders – Aspect RHG Hotel Portfolio)

 

     

    

    

 

EXHIBIT A

MORTGAGE LOAN SCHEDULE

 

Description of Mortgage Loan

 

	Mortgage Loan Borrowers:	AHP Real 3 Denver SPV LLC; AHP Real 3 Nashville 2573 SPV LLC; AHP Real 3 Nashville 2631 SPV LLC; AHP Real 3 Phoenix HP SPV LLC
	Date of Mortgage Loan: 	July 19, 2018
	Date of Notes: 	July 19, 2018
	Original Principal Amount of Mortgage Loan:	$46,200,000
	Principal Amount of Mortgage Loan as of the date hereof:	$46,200,000
	Initial Note A-1 Principal Balance:	$33,500,000
	Initial Note A-2 Principal Balance:	$12,700,000
	Location of Mortgaged Property:	Various
	Initial Maturity Date:	August 1, 2028

 

    A-1

    

    

 

EXHIBIT B

 

		1.	Initial Note A-1 Holder:

 

(Prior to Securitization of Note A-1):

 

Société Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

 

with a copy to:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: General Counsel

 

(Following Securitization of Note A-1):

 

		(i)	Depositor:

 

UBS Commercial Mortgage Securitization Corp.

1285 Avenue of the Americas

New York, New York 10019

Attention: Nicholas Galeone

Email: nicholas.galeone@ubs.com

 

with a copy to:

UBS AG

153 West 51st Street

New York, New York 10019

Attention: Chad Eisenberger, Executive Director & Counsel

 

and a copy to:

Cadwalader, Wickersham & Taft LLP

One World Financial Center

New York, New York

Attention: Frank Polverino, Esq.

Facsimile: (212) 504-6820

 

    B-1

    

    

 

		(ii)	Master Servicer:

 

Midland Loan Services, a Division of PNC Bank, National
Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head,

Fax number: 1-888-706-3565

 

with a copy to:

Stinson Leonard Street LLP

1201 Walnut Street

Suite 2900

Kansas City, Missouri 64106-2150

Fax Number: (816) 412-9338

Attention: Kenda K. Tomes

Email: kenda.tomes@stinson.com

 

		(iii)	Special Servicer:

 

Midland Loan Services, a Division of PNC Bank, National
Association

10851 Mastin Street, Suite 700

Overland Park, Kansas 66210

Attention: Executive Vice President – Division Head

Fax number: 1-888-706-3565

 

with a copy to:

Stinson Leonard Street LLP

1201 Walnut Street

Suite 2900

Kansas City, Missouri 64106-2150

Fax Number: (816) 412-9338

Attention: Kenda K. Tomes

Email: kenda.tomes@stinson.com

 

		(vi)	Certificate Administrator

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services: UBS 2018-C12

 

with a copy to:

cts.cmbs.bond.admin@wellsfargo.com

trustadministrationgroup@wellsfargo.com

 

    B-2

    

    

 

		(v)	Trustee:

 

Wells Fargo Bank, National Association

9062 Old Annapolis Road

Columbia, Maryland 21045

Attention: Corporate Trust Services: UBS 2018-C12

 

with a copy to:

cts.cmbs.bond.admin@wellsfargo.com

trustadministrationgroup@wellsfargo.com

 

		(vi)	Operating Advisor:

 

Park Bridge Lender Services LLC

600 Third Avenue, 40th Floor

New York, New York 10016

Attention: UBS 2018-C12 – Surveillance Manager

(with a copy sent contemporaneously via email to:

cmbs.notices@parkbridgefinancial.com)

 

		(vii)	Asset Representations Reviewer:

 

Park Bridge Lender Services LLC

600 Third Avenue, 40th Floor

New York, New York 10016

Attention: UBS 2018-C12 – Surveillance Manager

(with a copy sent contemporaneously via email to:

cmbs.notices@parkbridgefinancial.com)

 

		2.	Initial Note A-2 Holder:

 

(Prior to Securitization of Note A-2):

 

Société Générale

245 Park Avenue

New York, New York 10167

Attention: Jim Barnard

  

with a copy to:

Société Générale

245 Park Avenue

New York, New York 10167

Attention: General Counsel

 

    B-3

    

    

 

(Following Securitization of Note A-2):

 

		(i)	Depositor:

 

To be provided following the securitization of Note
A-2.

 

		(ii)	Master Servicer:

 

To be provided following the securitization of Note
A-2.

 

		(iii)	Special Servicer:

 

To be provided following the securitization of Note
A-2.

 

		(iv)	Trustee:

 

To be provided following the securitization of Note
A-2.

 

		(v)	Certificate Administrator:

 

To be provided following the securitization of Note
A-2.

 

		(vi)	Operating Advisor:

 

To be provided following the securitization of Note
A-2.

 

		(vii)	Asset Representations Reviewer:

 

To be provided following the securitization of Note
A-2.

 

    B-4

    

    

 

EXHIBIT C

PERMITTED FUND MANAGERS

 

		1.	Westbrook Partners

		2.	DLJ Real Estate Capital Partners

		3.	iStar Financial Inc.

		4.	Capital Trust, Inc.

		5.	Lend-Lease Real Estate Investments

		6.	Archon Capital, L.P.

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

		8.	The Blackstone Group International Ltd.

		9.	Apollo Real Estate Advisors

		10.	Colony Capital, Inc.

		11.	Praedium Group

		12.	J.E. Roberts Companies

		13.	Fortress Investment Group, LLC

		14.	Lonestar Opportunity Fund

		15.	Clarion Partners

		16.	Walton Street Capital, LLC

		17.	Starwood Financial Trust

		18.	BlackRock, Inc.

		19.	Raith Capital Partners, LLC

		20.	Rialto Capital Management LLC

		21.	Rialto Capital Partners LLC

 

    C-1Exhibit 4.13

 

EXECUTION VERSION

 

PRIMARY SERVICING AGREEMENT

 

UBS Commercial Mortgage Trust 2018-C12,

 

Commercial Mortgage Pass-Through Certificates

 

Series 2018-C12

 

Dated as of August 1, 2018

  

By and Between

 

MIDLAND LOAN SERVICES, A DIVISION OF PNC
BANK, NATIONAL ASSOCIATION,

 

Master Servicer

 

and

 

BERKELEY POINT CAPITAL LLC

 

Primary Servicer

 

     

     

    

 

	TABLE OF CONTENTS
	 	 	 
	ARTICLE I.
	 	 	 
	DEFINITIONS	 	1
	 	 	 
	Section 1.01.	Defined Terms	1
	 	 	 
	ARTICLE II.
	 	 	 
	RETENTION AND AUTHORITY OF PRIMARY SERVICER	3
	 	 	 
	Section 2.01.	Servicing Standard; Commencement of Servicing Responsibilities	3
	 	 	 
	Section 2.02.	Sub-Subservicing	3
	 	 	 
	Section 2.03.	Authority of Primary Servicer	4
	 	 	 
	ARTICLE III.
	 	 	 
	SERVICES TO BE PERFORMED	5
	 	 	 
	Section 3.01.	Services as Primary Servicer	5
	 	 	 
	Section 3.02.	Portfolio Manager	9
	 	 	 
	Section 3.03.	Maintenance of Errors and Omissions and Fidelity Coverage	9
	 	 	 
	Section 3.04.	Delivery and Possession of Servicing Files	10
	 	 	 
	Section 3.05.	Annual Compliance Statements	10
	 	 	 
	Section 3.06.	Annual Reports on Assessment of Compliance with the Servicing Criteria	11
	 	 	 
	Section 3.07.	Annual Independent Public Accountants’ Attestation Report	11
	 	 	 
	Section 3.08.	Sarbanes-Oxley Certification	12
	 	 	 
	Section 3.09.	Delivery of Mortgage Loan Purchase Agreement	13
	 	 	 
	ARTICLE IV.
	 	 	 
	PRESERVATION OF THE REMICS	13
	 	 	 
	ARTICLE V.
	 	 	 
	PRIMARY SERVICER’S COMPENSATION AND EXPENSES	13
	 	 	 
	Section 5.01.	Primary Servicing Compensation	13
	 	 	 
	ARTICLE VI.
	 	 	 
	THE MASTER SERVICER AND THE PRIMARY SERVICER	14
	 	 	 
	Section 6.01.	Primary Servicer Not to Assign; Merger or Consolidation of the Primary Servicer	14

 

    i 

     

    

 

	Section 6.02.	Liability and Indemnification of the Primary Servicer and the Master Servicer	15
	 	 	 
	Section 6.03.	Representations and Warranties	18
	 	 	 
	ARTICLE VII.
	 	 	 
	PRIMARY SERVICER TERMINATION EVENTS; TERMINATION	19
	 	 	 
	Section 7.01.	Primary Servicer Termination Events; Primary Servicer Third Party Purchaser Non-Affiliate Covenant	 
	 	 	19
	Section 7.02.	Termination of Agreement	23
	 	 	 
	ARTICLE VIII.
	 	 	 
	MISCELLANEOUS PROVISIONS	24
	 	 	 
	Section 8.01.	Rating Agency Communications	24
	 	 	 
	Section 8.02.	Amendment	25
	 	 	 
	Section 8.03.	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial	25
	 	 	 
	Section 8.04.	Notices	26
	 	 	 
	Section 8.05.	Consistency with PSA; Severability of Provisions	27
	 	 	 
	Section 8.06.	Inspection and Audit Rights	27
	 	 	 
	Section 8.07.	Protection of Confidential Information	27
	 	 	 
	Section 8.08.	Binding Effect; No Partnership; Counterparts	27
	 	 	 
	Section 8.09.	Third Party Beneficiaries	28
	 	 	 
	Section 8.10.	Article and Section Headings	28

 

    ii 

     

    

 

	LIST OF EXHIBITS
	 	 
	Schedule I	Mortgage Loan Schedule
	 	 
	Exhibit “A”	Day One Report
	 	 
	Exhibit “B”	Inspection Reports
	 	 
	Exhibit “C”	Quarterly Reports
	 	 
	Exhibit “D”	Remittance Reports
	 	 
	Exhibit “E”	Form of Mortgagee Clause for Insurance Policies

 

    iii 

     

    

 

THIS PRIMARY SERVICING
AGREEMENT dated as of August 1, 2018 is between Midland Loan Services, a Division of PNC Bank, National Association (together
with its successors and assigns permitted under the PSA, the “Master Servicer” or “Midland”), and Berkeley
Point Capital LLC (together with its successors and permitted assigns hereunder, the “Primary Servicer”).

 

PRELIMINARY STATEMENT

 

Pursuant to the
Pooling and Servicing Agreement (the “PSA”) dated as of August 1, 2018, among UBS Commercial Mortgage Securitization
Corp., as Depositor, Midland, as Master Servicer and as Special Servicer, Wells Fargo Bank, National Association, as Certificate
Administrator and as Trustee, and Park Bridge Lender Services LLC, as Operating Advisor and as Asset Representations Reviewer,
with respect to the UBS Commercial Mortgage Trust 2018-C12, Commercial Mortgage Pass-Through Certificates, Series 2018-C12 (a copy
of which has been delivered to the Primary Servicer), the Master Servicer shall be servicing any Mortgage Loan on behalf of the
Trust.

 

The Master Servicer
and the Primary Servicer desire to enter into an agreement whereby the Primary Servicer assumes and agrees to perform certain of
the Master Servicer’s servicing responsibilities with respect to any Mortgage Loan as more specifically set forth herein.

 

AGREEMENTS

 

NOW, THEREFORE,
in consideration of the recitals in the above Preliminary Statement which are made a contractual part hereof, and of the mutual
promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:

 

ARTICLE I.

 

DEFINITIONS

 

Section 1.01. Defined
Terms.

 

For purposes of
this Agreement, all capitalized terms not otherwise defined herein shall have the meanings set forth in the PSA, and the following
capitalized terms shall have the respective meanings set forth below.

 

“Accepted
Primary Servicing Practices”: As defined in Section 2.01 hereof.

 

“Additional
Primary Servicing Compensation”: As defined in Section 5.01 hereof.

 

“Agreement”:
This Primary Servicing Agreement, as the same may be amended or modified by the parties from time to time.

 

“CREFC®
Reporting Format”: The CREFC® Investor Reporting Package reporting and data format; provided, however, that if such
format is no longer applicable or in existence,

 

     1

     

    

 

then
such other commercial mortgage servicing industry standard reporting and data format reasonably approved by the Master Servicer.

 

“Day One
Report”: With respect to each of any Mortgage Loan, the report setting forth the Periodic Payment for the current month
and the amount of any unscheduled payments, Balloon Payments, Principal Prepayments, and Prepayment Premiums for which the Primary
Servicer has received notice, substantially in the form attached hereto as Exhibit “A”.

 

“Inspection
Reports”: The inspection reports substantially in the form attached hereto as Exhibit “B”.

 

“Losses”:
As defined in Section 6.02(b) hereof.

 

“Master
Servicer”: As defined in the first paragraph of this Agreement.

 

“Mortgage
Loan”: any mortgage loan identified on the Mortgage Loan Schedule.

 

“Mortgage
Loan Schedule”: The schedule of certain mortgage loans that is annexed to the Primary Servicer’s signature page
included herewith, which schedule sets forth certain information with respect to such mortgage loans, including, without limitation,
the related Primary Servicing Fee Rate.

 

“Primary
Servicer”: As defined in the first paragraph of this Agreement.

 

“Primary
Servicer Accounts”: The segregated Collection Accounts and the segregated Servicing Accounts maintained by the Primary
Servicer hereunder in the name of the Primary Servicer in trust for the Master Servicer on behalf of the Trustee in trust for the
benefit of the Holders.

 

“Primary
Servicer Parties”: As defined in Section 6.02(a) hereof.

 

“Primary
Servicer Remittance Date”: With respect to any Determination Date, the Business Day immediately following such Determination
Date.

 

“Primary
Servicer Termination Event”: Any primary servicer termination event as set forth in Section 7.01 hereof.

 

“Primary
Servicing Fee”: With respect to each Mortgage Loan and for any Distribution Date, that portion of the Servicing Fee payable
by the Master Servicer to the Primary Servicer, which shall be an amount per calendar month equal to the product of the Primary
Servicing Fee Rate and the Stated Principal Balance of such Mortgage Loan, as determined on the same basis as for the calculation
of the Servicing Fee under the PSA.

 

“Primary
Servicing Fee Rate”: The per annum rate for each Mortgage Loan as set forth in the related Mortgage Loan Schedule.

 

“Primary
Servicing File”: With respect to each Mortgage Loan, all documents, information and records relating to such Mortgage
Loan that are necessary or appropriate to

 

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enable
the Primary Servicer to perform its obligations hereunder and any additional documents or information related thereto maintained
or created in any form by the Primary Servicer, including, without limitation, all analysis, working papers, inspections reports,
written communications with any Mortgagor, and all other information collected from or concerning any Mortgagor or the related
Mortgaged Property in the Primary Servicer’s possession.

 

“PSA”:
As defined in the above Preliminary Statement to this Agreement.

 

“Quarterly
Reports”: The quarterly reports and certifications substantially in the form attached hereto as Exhibit “C”.

 

“Remittance
Reports”: The remittance reports substantially in the form attached hereto as Exhibit “D”.

 

“Responsible
Officer”: Any officer or employee of the Primary Servicer or the Master Servicer, as the case may be, involved in or
responsible for the administration, supervision or management of this Agreement and whose name and specimen signature appear on
a list prepared by each party and delivered to the other party, as such list may be amended from time to time by either party.

 

“Special
Servicer Non-Major Decision”: As defined in the PSA.

 

ARTICLE II.

 

RETENTION AND AUTHORITY OF PRIMARY SERVICER

 

Section 2.01. Servicing
Standard; Commencement of Servicing Responsibilities.

 

The Master Servicer
hereby engages the Primary Servicer to perform, and the Primary Servicer hereby agrees to perform, servicing with respect to all
of any Mortgage Loan throughout the term of this Agreement, upon and subject to the terms, covenants and provisions hereof. The
Primary Servicer shall perform its services hereunder in accordance with (a) applicable laws, (b) the terms and provisions of any
Mortgage Loan, (c) the express terms hereof, the PSA, and with respect to any Companion Loan, the related Intercreditor Agreement
(if applicable), (d) subject to Section 2.03(b) hereof, the reasonable directions and instructions of the Master Servicer (including,
without limitation, the forms and report formats reasonably requested by the Master Servicer) and (e) all requirements pertaining
to the performance of such services under the PSA, including, without limitation, the Servicing Standard. The above-described servicing
standards are herein referred to as “Accepted Primary Servicing Practices.”

 

Section 2.02. Sub-Subservicing.

 

To the extent necessary
for the Primary Servicer to comply with applicable laws, or if otherwise consented to by the Master Servicer, the Primary Servicer
may enter into any sub-subservicing agreement with a sub-subservicer that would permit such sub-subservicer to perform any or all
of the Primary Servicer’s servicing responsibilities under this Agreement; provided, however, if such sub-subservicer would
be a servicer as contemplated by Item 1108(a)(2) of Regulation AB, no such sub-subservicer may be Risk Retention Affiliated with
or

 

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a
Risk Retention Affiliate of any Third Party Purchaser. Notwithstanding any sub-subservicing agreement, the Primary Servicer shall
remain obligated and primarily liable to the Master Servicer for the servicing and administering of any Mortgage Loan in accordance
with the provisions of this Agreement without diminution of such obligation or liability by virtue of such sub-subservicing agreement
to the same extent and under the same terms and conditions as if the Primary Servicer were servicing any Mortgage Loan alone.
Any such sub-subservicing agreement must be consistent with the provisions of Section 3.20 of the PSA.

 

Section 2.03. Authority
of Primary Servicer.

 

(a)           Except
as otherwise provided herein and subject to the terms of this Agreement and the Master Servicer’s limitations of authority
as Master Servicer under the PSA, in performing its obligations hereunder, the Primary Servicer shall have full power and authority
to take any and all actions in connection with such obligations that it deems necessary or appropriate; provided, however, that
the Primary Servicer shall not take any of the following actions with respect to any Mortgage Loan without obtaining the prior
written consent of the Master Servicer (which consent may be in the form of an asset business plan approved in writing by the Master
Servicer and shall be subject to the prior approval of the Special Servicer, any mezzanine loan lender, any AB Whole Loan Controlling
Holder, any Rating Agency or the Directing Certificateholder, if so required under the PSA, which approvals shall be requested
by the Master Servicer and upon receipt of all approvals by Master Servicer, Primary Servicer shall proceed to close such transactions):

 

(i)            the
modification, waiver or amendment, whether or not material, of or with respect to any Mortgage Loan, including, without limitation,
any forgiveness of principal, any change in the amount or timing of any payment of principal or interest, maturity, extension rights
or prepayment provisions or the substitution, release or addition of any collateral for any Mortgage Loan or relate to any waiver
of or granting of consent under a “due-on-sale” or “due-on-encumbrance” clause;

 

(ii)           the
granting or withholding of consent to any transfer of ownership of a Mortgaged Property or any transfer of any interest of an owner
of a Mortgaged Property and entering into any assumption agreement in connection therewith;

 

(iii)          the
granting or withholding of consent to any request for approval to place subordinate financing on a Mortgaged Property;

 

(iv)          the
determination of whether or not to release proceeds of condemnation or casualty insurance to the Mortgagor under any Mortgage Loan;

 

(v)           the
waiver of any Penalty Charge or Prepayment Premium under any Mortgage Loan;

 

(vi)          the
waiver of any late Penalty Charges in connection with any delinquent scheduled payment or Balloon Payment with respect to any Mortgage
Loan;

 

(vii)         any
action to initiate, prosecute and manage foreclosure proceedings and other legal proceedings related thereto in connection with
any Mortgage Loan;

 

     4

     

    

 

(viii)        the
permitting of or modification of a Mortgage Loan to permit a Principal Prepayment of a Mortgage Loan on a date other than its Due
Date;

 

(ix)          any
action requiring the consent of, or consultation with, the Master Servicer, the Directing Certificateholder, any AB Whole Loan
Controlling Holder, any Companion Holder, the 17g-5 Information Provider, the Trustee, the Certificate Administrator, the Asset
Representations Reviewer, the Operating Advisor, any party under an Other Pooling and Servicing Agreement or the Special Servicer
under the PSA;

 

(x)            the
granting or withholding consent to any request for defeasance of any Mortgage Loan;

 

(xi)           the
granting of any consent, approval or direction regarding the termination of (a) the related property manager or the designation
of any replacement property manager or (b) with respect to a hospitality property, the franchise or the designation of a new franchise;

 

(xii)          the
authorizing of any Servicing Transfer Event under PSA Section 3.19 and as defined in the definition of Servicing Transfer Event;
provided, however, that if the Primary Servicer determines that a Servicing Transfer Event should occur, the Primary Servicer shall
immediately provide to the Master Servicer notice of such event along with the Primary Servicer’s recommendation and supporting
documentation and further provide to the Master Servicer additional information as the Master Servicer reasonably requests; or

 

(xiii)         any
Major Decision or Special Servicer Non-Major Decision.

 

(b)           Regardless
of whether the consent or approval of the Master Servicer is required pursuant to this Agreement, the Primary Servicer shall take
any action that is directed by the Master Servicer which relates to the Primary Servicer’s obligations under this Agreement;
provided, however, that the Primary Servicer shall not be obligated to take any such action to the extent that the Primary Servicer
determines in its reasonable discretion that such action may cause (i) a violation of applicable laws, court orders or restrictive
covenants with respect to any Mortgage Loan or Mortgaged Property or (ii) a violation of any term or provision of a Mortgage Loan.

 

ARTICLE III.

 

SERVICES TO BE PERFORMED

 

Section 3.01. Services
as Primary Servicer.

 

With respect to
each Mortgage Loan subject to this Agreement, the Primary Servicer shall, in accordance with Accepted Primary Servicing Practices
and subject to the supervision of the Primary Servicer by the Master Servicer, perform the following servicing activities on behalf
of the Master Servicer:

 

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(a)           the
Primary Servicer shall perform the duties and obligations of the Master Servicer as the Master Servicer under PSA Sections 2.01(d),
(g) and (i) (conveyance of mortgage loans); 2.02(d), (g) and (h) (15Ga-1 notices); 2.03(b), (d), (f), (g), and (j)–(o) (repurchase
and substitution of loans); 3.01 (general servicing), 3.02 (collections); 3.03 (taxes and insurance; escrows; servicing accounts);
3.04 (collection account); 3.06 (investment of funds); 3.07 (insurance); 3.08 (due-on sale/encumbrance enforcement; assumptions);
3.10 (release of files); 3.12 (inspections and reports); 3.13 (access); 3.17 (additional obligations); 3.18 (defeasances and modifications);
3.19 (servicing transfers); 3.22 (Directing Certificateholder contact); 3.24 (intercreditor agreements); 3.29 (non-serviced loans
and serviced companion loans); 10.01 (REMIC administration); 10.03(b) (REMIC cooperation); Article XI (Exchange Act reporting and
Regulation AB compliance) and Article XII (asset representations reviewer file review compliance); provided, however, that:

 

(i)            no
Primary Servicer shall have any obligation to make Advances, provided that the Primary Servicer shall promptly notify the Master
Servicer in the event any Advance is required to be made or an expense of the Trust Fund is required to be incurred;

 

(ii)           Section
5.01 hereof shall control with respect to which fees or charges the Primary Servicer may retain under PSA Sections 3.05 and 3.11;

 

(iii)          PSA
Section 3.06 shall only be applicable with respect to the Primary Servicer Accounts;

 

(iv)         any
reports, certifications and other documentation which are required to be provided by the Master Servicer to the Trustee, the Certificate
Administrator, the Depositor, the Directing Certificateholder, any AB Whole Loan Controlling Holder, any Rating Agency, the 17g-5
Information Provider, any Mortgage Loan Seller, the Operating Advisor, the Asset Representations Reviewer, the Special Servicer
or any party to an Other Pooling and Servicing Agreement shall be provided by the Primary Servicer to the Master Servicer or as
otherwise directed by the Master Servicer;

 

(v)           the
Primary Servicer shall not be responsible for any mortgage loan pool-wide reporting, including, without limitation, preparing,
signing and filing with the appropriate Person any reports, statements and information under PSA Section 4.02;

 

(vi)          except
as otherwise provided for in this Agreement and for so long as the Primary Servicer is an affiliate of the applicable Mortgage
Loan Seller, the Primary Servicer shall not be responsible for enforcing the obligations of such Mortgage Loan Seller under Section
5 of the applicable Mortgage Loan Purchase Agreement as provided for in the first paragraph of Section 2.03(f) of the PSA, but
if Primary Servicer is not an affiliate of the applicable Mortgage Loan Seller, then the Primary Servicer shall perform all duties
and obligations required under Section 2.03(f) of the PSA; and

 

     6

     

    

 

(vii)         subject
to Section 2.03(a)(xiii), the Primary Servicer shall not take any actions under and shall immediately forward to the Master Servicer
any request which would qualify as a Major Decision or Special Servicer Non-Major Decision and provide written notice to the Master
Servicer of issues arising with respect to Major Decisions and Special Servicer Non-Major Decisions;

 

(b)           the
Primary Servicer shall promptly notify the Master Servicer in writing upon discovery or receipt of notice by the Primary Servicer
of the occurrence of any event that causes, or with notice or the passage of time or both, would cause any Mortgage Loan to become
a Specially Serviced Loan in accordance with the definition of “Specially Serviced Loan” set forth in the PSA;

 

(c)           the
Primary Servicer shall promptly advise the Master Servicer of all material collection and customer service issues and furnish the
Master Servicer with copies of all written communications regarding such issues between the Primary Servicer and any Mortgagor
or any third party in connection with the Primary Servicer’s obligations hereunder;

 

(d)           on
or before 12:00 noon Central Time on each Primary Servicer Remittance Date, the Primary Servicer shall deliver to the Master Servicer
the Remittance Reports which reflect activity with respect to any Mortgage Loan through and including the close of business on
the date which is the Determination Date; and the Primary Servicer shall, to the extent necessary, deliver to the Master Servicer
a follow-up report in similar format which reflects additional activity with respect to any Mortgage Loan through and including
the date of any follow-up remittance;

 

(e)           on
or before 12:00 noon Central Time on each Primary Servicer Remittance Date, the Primary Servicer shall remit to the Master Servicer,
pursuant to wiring instructions from the Master Servicer, all amounts on deposit in the Collection Account maintained by the Primary
Servicer as of the close of business on the date which is one (1) Business Day prior to such Primary Servicer Remittance Date;
and the Primary Servicer shall remit to the Master Servicer within one (1) Business Day after receipt, any payments received by
the Primary Servicer after such initial remittance; and each of the foregoing remittances of funds may be net of any Primary Servicing
Fees due and payable to the Primary Servicer as payments in the nature of Additional Primary Servicing Compensation;

 

(f)            the
Primary Servicer shall remit to the Master Servicer, pursuant to wiring instructions from the Master Servicer, any whole or partial
Balloon Payments, unscheduled payments, Principal Prepayments or any Prepayment Premium and any interest thereon within one (1)
Business Day after receipt; and on the date of such remittance, the Primary Servicer shall deliver to the Master Servicer the Remittance
Reports relating to such remittance;

 

(g)           on
a quarterly and annual basis each year, the Primary Servicer shall prepare and deliver to the Master Servicer on or before the
date that is fifteen (15) days after the end of the respective quarter, the Quarterly Reports;

 

(h)           on
a quarterly and annual basis each year, the Primary Servicer shall determine and analyze financial ratios and perform other financial
analysis required under the CREFC®

 

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Reporting
Format and on or before the date that is thirty (30) days after receipt of the related financial statements, prepare and deliver
to the Master Servicer a report summarizing such analysis based upon the property operating statements with respect to the related
Mortgaged Property and the financial statements of the related Mortgagor and each related guarantor collected by the Primary Servicer
pursuant to PSA Section 3.12, which report shall be provided in electronic format and shall be substantially in the form of the
CREFC® Financial File included in the CREFC® Reporting Format (or in such other reporting format as reasonably requested
by the Master Servicer);

 

(i)            the
Primary Servicer shall prepare and deliver to the Master Servicer within thirty (30) days of any property inspection, the Inspection
Reports summarizing the results of any property inspections performed by the Primary Servicer pursuant to PSA Section 3.12;

 

(j)            the
Primary Servicer shall prepare and deliver to the Master Servicer the Day One Report on the first Business Day of each calendar
month;

 

(k)           the
Primary Servicer shall provide the Master Servicer with such reports and other information (in the Primary Servicer’s possession
or to the extent readily obtainable and as reasonably requested by the Master Servicer) with respect to the servicing of any Mortgage
Loan by the Primary Servicer hereunder in order for the Master Servicer to perform its duties under the PSA;

 

(l)            the
Primary Servicer shall (i) notify the Master Servicer in writing within five (5) Business Days after the Primary Servicer discovers
or receives notice alleging a Defect or a Breach or receives a 15Ga-1 Repurchase Request, a withdrawal of a 15Ga-1 Repurchase Request
or a rejection of a 15Ga-1 Repurchase Request, (ii) promptly provide to the Master Servicer a copy of any 15Ga-1 Repurchase Request,
a withdrawal of a 15Ga-1 Repurchase Request or a rejection of a 15Ga-1 Repurchase Request received by the Primary Servicer;

 

(m)          the
Primary Servicer shall not prepare and/or provide any CREFC® Schedule AL File or any Schedule AL Additional File; provided,
however, the Primary Servicer shall (i) promptly provide to the Master Servicer any documentation in the Primary Servicer’s
possession reasonably requested by the Master Servicer in connection with the Master Servicer’s preparation and compilation
of any CREFC® Schedule AL File or any Schedule AL Additional File and (ii) cooperate with the Master Servicer in connection
with the Master Servicer’s preparation and compilation of any CREFC® Schedule AL File or any Schedule AL Additional File;

 

(n)           with
respect to letters of credit, if any, as the Master Servicer is required to hold original letters of credit under the PSA, the
Primary Servicer shall hold such original letters of credit if the Primary Servicer has (i) a vault or other adequate safety procedures
in place satisfactory to the Master Servicer, in its sole discretion, or (ii) outsourced such responsibility to a third party vendor,
which vendor shall be satisfactory to the Master Servicer, who has a vault or other adequate safety procedures in place satisfactory
to the Master Servicer, in its sole discretion;

 

(o)           if
the Master Servicer notifies the Primary Servicer or the Primary Servicer otherwise obtains knowledge that a Mortgage Loan has
become an Excluded Controlling Class

 

     8

     

    

 

Loan
under the PSA, then the Primary Servicer (prior to delivering any Excluded Information to the Master Servicer) shall mark or label
such information as “Excluded Information” and comply with all the requirements set forth in the PSA with respect
to such Excluded Controlling Class Loan;

 

(p)           with
respect to any request for materials by the Asset Representations Reviewer or a related Other Asset Representations Reviewer pursuant
to PSA Article XII regarding any Mortgage Loan, the Primary Servicer shall (i) promptly provide to the Master Servicer any documentation
in the Primary Servicer’s possession reasonably requested by the Master Servicer and (ii) cooperate with the Master Servicer
in order for the Master Servicer to comply with its related obligations under the PSA;

 

(q)           with
respect to all servicing responsibilities of the Master Servicer under the PSA which are not being performed by the Primary Servicer
hereunder, the Primary Servicer shall (i) reasonably cooperate with the Master Servicer to facilitate the timely performance of
such servicing responsibilities, (ii) promptly provide to the Master Servicer any documentation in the Primary Servicer’s
possession reasonably requested by the Master Servicer and (iii) cooperate with the Master Servicer in order for the Master Servicer
to comply with its related obligations under the PSA.

 

Section 3.02. Portfolio
Manager.

 

(a)           The
Primary Servicer shall designate a portfolio manager and other appropriate personnel to receive documents and communications from
the Master Servicer and to provide assistance to the Master Servicer consistent with the Master Servicer’s supervisory authority
over the Primary Servicer hereunder.

 

(b)           The
Master Servicer shall designate a portfolio manager and other appropriate personnel to receive documents and communications from
the Primary Servicer and to provide to the Primary Servicer information, materials and correspondence relating to any Mortgage
Loan and the related Mortgagors which may be necessary or appropriate to enable the Primary Servicer to perform its obligations
hereunder.

 

Section 3.03. Maintenance
of Errors and Omissions and Fidelity Coverage.

 

(a)           The
mortgagee clause to be used in maintaining any property-level insurance required under Section 3.07 of the PSA shall be as set
forth in Exhibit E hereto, which may be amended from time-to-time by the Master Servicer.

 

(b)           The
Primary Servicer shall obtain and maintain at its own expense, and keep in full force and effect throughout the term of this Agreement,
a fidelity bond and an errors and omissions insurance policy covering the Primary Servicer’s officers and employees acting
on behalf of the Primary Servicer in connection with its activities under this Agreement in form and amount which satisfies the
fidelity bond and errors and omissions insurance policy requirements under PSA Section 3.07(c). The Primary Servicer shall cause
to be delivered to the Master Servicer from time to time upon the Master Servicer’s request a certificate of insurance or
other evidence of such bond and insurance. The Primary Servicer shall promptly notify or cause its

 

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insurer
to notify the Master Servicer of any material change to such fidelity bond or errors and omissions insurance.

 

Section 3.04. Delivery
and Possession of Servicing Files.

 

The Primary Servicer
hereby acknowledges receipt of the Primary Servicing Files. The contents of each Primary Servicing File delivered to the Primary
Servicer are and shall be held in trust by the Primary Servicer for the benefit of the Trust Fund as the owner thereof; the Primary
Servicer’s possession of the contents of the Primary Servicing File so delivered is for the sole purpose of servicing the
related Mortgage Loan; and such possession by the Primary Servicer shall be in a custodial capacity only. The Primary Servicer
shall release its custody of the contents of the Primary Servicing File only in accordance with written instructions from the Master
Servicer, and upon request of the Master Servicer, the Primary Servicer shall deliver to the Master Servicer the Primary Servicing
File or a copy of any document contained therein.

 

Section 3.05. Annual
Compliance Statements.

 

(a)           The
Primary Servicer shall, on or before the fifth (5th) Business Day preceding March 1st of each year, commencing
February 22, 2019, deliver to the Master Servicer an Officer’s Certificate in a form that satisfies the requirements of Section
11.09 of the PSA (or such other form, similar in substance, as may be acceptable to the Depositor and the Master Servicer) stating,
as to the signer thereof, that (i) a review of such Primary Servicer’s activities during the preceding calendar year or portion
thereof and of such Primary Servicer’s performance under this Agreement has been made under such officer’s supervision
and (ii) to the best of such officer’s knowledge, based on such review, such Primary Servicer has fulfilled all its obligations
under this Agreement 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.
Such Officer’s Certificate shall be provided in EDGAR-Compatible Format, or in such other format agreed upon by the Master
Servicer and Primary Servicer. Primary Servicer shall cooperate with the Master Servicer and/or the Depositor if either party consults
with the Primary Servicer as to the nature of any failures by the Primary Servicer with respect to any Mortgage Loan in the fulfillment
of any of the Primary Servicer’s obligations hereunder. In any year that the Primary Servicer has received written confirmation
from the Depositor (or, in the case of an Other Securitization, the related Other Depositor) or the Master Servicer that a report
on Form 10-K is not required to be filed in respect of the Trust (or, if applicable, the trust for any Other Securitization) for
the preceding calendar year, the Primary Servicer shall not be required to deliver such statement until April 1 of such year.

 

(b)           In
the event the Primary Servicer is terminated or resigns pursuant to the terms of this Agreement, Primary Servicer shall provide
an annual statement of compliance pursuant to this Section 3.05 with respect to the period of time that Primary Servicer was subject
to this Agreement.

 

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Section 3.06. Annual
Reports on Assessment of Compliance with the Servicing Criteria.

 

(a)           On
or before the fifth (5th) Business Day preceding March 1st of each year, commencing February 22, 2019, the
Primary Servicer, at its own expense, shall furnish to the Master Servicer a report substantially in a form that satisfies the
requirements of Section 11.10 of the PSA on an assessment of compliance with the Servicing Criteria applicable to it that complies
in all material respects with the requirements of Item 1122 of Regulation AB and contains (i) a statement by Primary Servicer of
its responsibility for assessing compliance with the Relevant Servicing Criteria, (ii) a statement that Primary Servicer used the
Relevant Servicing Criteria to assess compliance with the Relevant Servicing Criteria, (iii) such Primary 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 Form 10-K,
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 (iv) a statement that a registered public accounting firm has issued an attestation
report on Primary Servicer’s assessment of compliance with the Relevant Servicing Criteria as of and for such period. Such
report shall be provided in EDGAR-Compatible Format, or in such other format agreed upon by the Master Servicer and Primary Servicer.

 

(b)           Each
such report shall be addressed to the Master Servicer and signed by an authorized officer of Primary Servicer, and shall address
the Relevant Servicing Criteria set forth in Section 11.10 of and Exhibit Z to the PSA. Primary Servicer shall cooperate with the
Master Servicer and/or the Depositor if either party consults with the Primary Servicer as to the nature of any material instance
of noncompliance with the Relevant Servicing Criteria.

 

(c)           In
any year that the Primary Servicer has received written confirmation from the Depositor (or, in the case of an Other Securitization,
the related Other Depositor) or the Master Servicer that a report on Form 10-K is not required to be filed in respect of the Trust
(or, if applicable, the trust for any Other Securitization) for the preceding calendar year, the Primary Servicer shall not be
required to deliver such assessments until April 1 of such year.

 

(d)           Primary
Servicer hereby acknowledges and agrees that the Relevant Servicing Criteria set forth in Section 11.10 of and Exhibit Z to the
PSA is appropriately set forth with respect to Primary Servicer.

 

(e)           In
the event the Primary Servicer is terminated or resigns pursuant to the terms of this Agreement, Primary Servicer shall provide
an annual assessment of compliance pursuant to this Section 3.06, coupled with an attestation as required in Section
3.07 with respect to the period of time that Primary Servicer was subject to this Agreement.

 

Section 3.07. Annual
Independent Public Accountants’ Attestation Report.

 

(a)           On
or before the fifth (5th) Business Day preceding March 1st of each year, commencing February 22, 2019, the
Primary Servicer shall, at its own expense, cause a registered public accounting firm and that is a member of the American Institute
of Certified Public Accountants to furnish a report to the Master Servicer to the effect that (i) it has obtained a representation
regarding certain matters from the management of Primary Servicer, which

 

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includes
an assertion that Primary Servicer has complied with the Relevant Servicing Criteria applicable to it 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 issuing an opinion as to whether Primary Servicer’s assessment of compliance with the Relevant Servicing Criteria
applicable to it was fairly stated in all material respects. 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 such related accountant’s
attestation report shall be made in accordance with Rules 1-02(a)(3) and 2-02(g) of Regulation S-X under the Securities Act and
the Exchange Act. Such report must be available for general use and not contain restricted use language. Such report shall be
provided in EDGAR-Compatible Format, or in such other format agreed upon by the Master Servicer and Primary Servicer.

 

(b)           Primary
Servicer shall cooperate with the Master Servicer and/or the Depositor (or, in the case of an Other Securitization, the related
Other Depositor) if either party consults with the Primary Servicer as to the nature of any defaults by Primary Servicer in the
fulfillment of Primary Servicer’s obligations hereunder.

 

(c)           In
any year that the Primary Servicer has received written confirmation from the Depositor or the Master Servicer that a report on
Form 10-K is not required to be filed in respect of the Trust (or, if applicable, the trust for any Other Securitization) for the
preceding calendar year, the Primary Servicer shall not be required to deliver such report until April 1 of such year.

 

Section 3.08. Sarbanes-Oxley
Certification.

 

(a)           On
or before the fifth (5th) Business Day preceding March 1st of each year commencing February 22, 2019, the
Primary Servicer shall provide to the Master Servicer (for delivery to the Certifying Person), a Performance Certification in the
form attached as Exhibit Y-2 to the PSA, on which the Master Servicer, the Certifying Person, the entity for which the Certifying
Person acts as an officer (if the Certifying Person is an individual), and each entity’s officers, directors and Affiliates
(collectively the Certification Parties) can reasonably rely. In addition, Primary Servicer shall execute a reasonable reliance
certificate to enable the Certification Parties to rely upon each (i) annual compliance statement provided pursuant to Section
3.05 hereof, (ii) annual report on assessment of compliance with servicing criteria provided pursuant to Section 3.06 hereof and
(iii) accountant’s report provided pursuant to Section 3.07 hereof, and shall include a certification in the Performance
Certification that each such annual compliance statement or report discloses any deficiencies or defaults described to the registered
public accountants of the Primary Servicer to enable such accountants to render the certificates provided for in Section 3.07 hereof.
In the event the Primary Servicer is terminated or resigns pursuant to the terms of this Agreement, the Primary Servicer shall
provide a certification to the Master Servicer for delivery to the Certifying Person pursuant to this Section 3.08 with respect
to the period of time it was subject to this Agreement. Each such Performance Certification shall be provided in EDGAR-Compatible
Format, or in such other format agreed upon by the Master Servicer and the Primary Servicer.

 

(b)           Notwithstanding
anything to the contrary contained in this Section 3.08, with respect to each year in which the Trust is not subject to the reporting
requirements of the

 

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Exchange
Act, Primary Servicer shall not be required to deliver any certification under this Section 3.08.

 

Section 3.09. Delivery
of Mortgage Loan Purchase Agreement.

 

Following the Master
Servicer’s receipt of the Mortgage Loan Purchase Agreement from the Depositor, the Master Servicer shall provide a copy of
such Mortgage Loan Purchase Agreement to the Primary Servicer.

 

ARTICLE IV.

 

PRESERVATION OF THE
REMICS.

 

The Primary Servicer
shall not take any action (whether or not authorized hereunder) that would result in an Adverse REMIC Event. Primary Servicer shall
fully cooperate with the Master Servicer in connection with avoiding (i) the imposition of a tax on any portion of the Trust Fund,
(ii) the failure of any Trust REMIC to qualify as a REMIC, or (iii) the failure of the Grantor Trust to qualify as a grantor trust.

 

ARTICLE V.

 

PRIMARY SERVICER’S COMPENSATION AND EXPENSES

 

Section 5.01. Primary
Servicing Compensation.

 

(a)           As
compensation for its activities hereunder, the Primary Servicer shall be entitled to receive the Primary Servicing Fee. Anything
herein to the contrary notwithstanding, the Primary Servicer shall be paid such Primary Servicing Fee at such times as, and only
to the extent that, the Master Servicer receives its Servicing Fee with respect to each Mortgage Loan under the PSA. Except as
provided below, any reductions in the Servicing Fee that may be required under the PSA with respect to Prepayment Interest Shortfalls
shall not affect the amount of the Primary Servicing Fee payable to the Primary Servicer and, consequently, the Primary Servicer
shall not be entitled to any Prepayment Interest Excess; provided, however, that in the event of a breach of Section 2.03(a)(viii)
of this Agreement by the Primary Servicer, on or before 1:00 p.m. New York City time on the Primary Servicer Remittance Date following
such breach, the Primary Servicer shall remit to the Master Servicer, pursuant to wiring instructions from the Master Servicer,
the amount as of any Distribution Date equal to the aggregate amount of any Prepayment Interest Shortfall incurred in connection
with Principal Prepayments received in respect of any Mortgage Loan. If such Prepayment Interest Shortfall is not remitted to the
Master Servicer by 1:00 p.m. New York City time on the Primary Servicer Remittance Date, then the Primary Servicer shall also remit
to the Master Servicer the Prepayment Interest Shortfall and full interest on such Prepayment Interest Shortfall at the Reimbursement
Rate from and including such Primary Servicer Remittance Date but excluding the date that such Prepayment Interest Shortfall is
received by the Master Servicer.

 

(b)           The
Primary Servicer shall also be entitled to retain, with respect to each related Mortgage Loan, as additional Primary Servicing
compensation (the “Additional Primary Servicing Compensation”), the following: (i) to the extent the Master
Servicer is entitled to retain

 

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such
amounts under the PSA and actually received such amounts, all Penalty Charges (to the extent the Primary Servicer is performing
the related collection work and to the extent not required to be offset against with respect to the related Mortgage Loan under
PSA Section 3.11(d) (1) interest on Advances or (2) certain additional Trust expenses), all amounts collected for checks returned
for insufficient funds relating to the Primary Servicer Accounts, all charges for beneficiary statements to the extent such beneficiary
statements were prepared by the Primary Servicer, 50% of the Master Servicer’s share of any assumption fees and assumption
application fees and 50% of the Master Servicer’s share of any and all Excess Modification Fees, waiver, consent and earnout
fees, review fees and similar fees; and (ii) subject to PSA Section 3.06, any interest or other income earned on deposits in the
related Primary Servicer Accounts; provided, however, that the Primary Servicer shall be required to promptly remit to the Master
Servicer any amounts received from or on behalf of any Mortgagor which the Primary Servicer is not entitled to retain under this
paragraph.

 

Notwithstanding the
foregoing, the Primary Servicer shall not be entitled to any Additional Primary Servicing Compensation in the form of fees earned
with respect to the processing of any Special Servicer Non-Major Decision or Major Decision performed by the Special Servicer;
provided, however, if the Master Servicer and the Primary Servicer mutually agree that the Primary Servicer shall process any Special
Servicer Non-Major Decision or Major Decision following approval of such decision by the Special Servicer and the Primary Servicer
processes such Special Servicer Non-Major Decision or Major Decision, the Primary Servicer shall be entitled to the applicable
fee as described above.

 

(c)           Except
as otherwise provided herein or in the PSA, the Primary Servicer shall pay all its overhead and similar expenses incurred by it
in connection with its servicing activities hereunder.

 

ARTICLE VI.

 

THE MASTER SERVICER AND THE PRIMARY SERVICER

 

Section 6.01. Primary
Servicer Not to Assign; Merger or Consolidation of the Primary Servicer.

 

(a)           Except
as otherwise provided in Section 6.01(b) hereof, or in Sections 2.02 or 3.02 hereof, the Primary Servicer shall not assign this
Agreement for any reason or the servicing hereunder or delegate its rights or duties hereunder or any portion thereof without the
prior written consent of the Master Servicer.

 

(b)           The
Primary Servicer shall not resign from its obligations and duties hereunder without giving the Master Servicer sixty (60) days
prior written notice thereof or such lesser notice as may be acceptable to the Master Servicer to enable the Master Servicer to
assume all of the Primary Servicer’s rights, powers, duties and obligations under this Agreement; provided, however, that
only fifteen (15) days prior written notice shall be required in connection with a resignation of the Primary Servicer as a result
of the Master Servicer’s failure to consent to any matters set forth in this Section 6.01.

 

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(c)           The
Primary Servicer 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 resulting from any merger or consolidation to which the Primary Servicer shall be a party, or
any Person succeeding to the business of the Primary Servicer, shall be the successor of the Primary Servicer hereunder and shall
be deemed to have assumed all of the liabilities of the Primary Servicer hereunder, provided that, in any such case, the Primary
Servicer meets the requirements of the PSA and has obtained the prior written consent of the Master Servicer. Notwithstanding the
foregoing, the Primary Servicer may not remain the Primary Servicer under this Agreement after (x) being merged or consolidated
with or into any Person that is a Prohibited Party, or (y) transferring all or substantially all of its assets to any Person if
such Person is a Prohibited Party, except to the extent (i) the Primary Servicer is the surviving entity of such merger, consolidation
or transfer and has been and continues to be in compliance with its Regulation AB reporting obligations hereunder or (ii) the Master
Servicer consents to such merger, consolidation or transfer. Upon written demand by the Master Servicer, such successor shall be
required to promptly execute and deliver to the Master Servicer an agreement which contains an assumption by such Person of the
due and punctual performance and observance of each covenant and condition to be performed and observed by the Primary Servicer
under this Agreement from and after the date of such agreement. Notwithstanding anything to the contrary, the Primary Servicer
shall promptly notify the Master Servicer, the Certificate Administrator and the Trustee in the event the Primary Servicer becomes
an Affiliate of the Trustee.

 

Section 6.02. Liability
and Indemnification of the Primary Servicer and the Master Servicer.

 

(a)           Neither
the Primary Servicer nor any of the partners, directors, officers, shareholders, members, managers, employees or agents of the
Primary Servicer (the “Primary Servicer Parties”) shall be under any liability to the Master Servicer 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 Primary Servicer Parties against any liability which would be imposed
by reason of any breach of its warranties or representations made herein, or against any liability that would otherwise be imposed
on the Primary Servicer by reason of the Primary Servicer’s willful misconduct, bad faith or negligence (or by reason of
any specific liability imposed on the Primary Servicer pursuant to Section 2.01 hereof, for a breach of the Accepted Primary Servicing
Practices) in the performance of its obligations and duties hereunder or by reason of its negligent disregard of its obligations
and duties hereunder. Each indemnified party hereunder shall give prompt written notice to the indemnitor of matters which may
give rise to liability of such indemnitor hereunder; provided, however, that failure to give such notice shall not relieve the
indemnitor of any liability except to the extent of actual prejudice. The Primary Servicer Parties 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.

 

(b)           The
Primary Servicer Parties shall be indemnified and held harmless by the Master Servicer against any and all claims, losses, penalties,
fines, forfeitures, reasonable legal fees and related costs, judgments, and any other costs, liabilities, fees and expenses incurred
in connection with any actual or threatened legal or administrative action (whether in equity or at law) or claim relating to this
Agreement (collectively, the “Losses”) incurred by the Primary Servicer (i) by reason of the Master Servicer’s
willful misconduct, bad faith, negligence in the

 

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performance
of its obligations and duties hereunder or negligent disregard of its obligations and duties hereunder or (ii) in connection with,
or relating to, this Agreement, any Mortgage Loan or the Certificates, other than any Losses (x) that are specifically required
to be borne by Primary Servicer without right of reimbursement pursuant to the terms hereof or (y) incurred by reason of (1) a
breach of any representation or warranty by Primary Servicer, or (2) willful misconduct, bad faith or negligence of Primary Servicer
in the performance of its respective obligations and duties hereunder or negligent disregard of its respective obligations and
duties under this Agreement; provided, however, that the indemnification under clause (ii) above shall be strictly
limited to any actual amount of indemnification received by the Master Servicer under the PSA as a result of pursuing the Trust
Fund on behalf of the Primary Servicer for such indemnification.

 

(c)           The
Master Servicer and any partners, directors, officers, shareholders, members, managers, employees or agents of the Master Servicer
shall be indemnified and held harmless by the Primary Servicer against any Losses incurred by the Master Servicer by reason of
(i) any breach by the Primary Servicer of a representation or warranty made by it herein or in the PSA or (ii) any willful misconduct,
bad faith or negligence by the Primary Servicer in the performance of its obligations and duties hereunder or under the PSA or
by reason of negligent disregard of such obligations and duties. The Master Servicer and any partner, director, officer, shareholder,
member, manager, employee or agent of the Master 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.

 

(d)           The
Primary Servicer shall indemnify and hold harmless the Master Servicer, each Certification Party, the Depositor, each Other Depositor
and any employee, director, officer and Affiliate of the Master Servicer, each Certification Party, the Depositor and any Other
Depositor from and against any and all claims, losses, damages, penalties, fines, forfeitures, legal fees and expenses and related
costs, judgments and any other costs, fees and expenses incurred by such indemnified party arising out of (i) a breach of the Primary
Servicer’s obligation to provide any of the annual compliance statements or annual servicing criteria compliance reports
or attestation reports pursuant to this Agreement and the PSA, (ii) the negligence, bad faith or willful misconduct on the Primary
Servicer’s part in the performance of such obligations, (iii) any failure by Primary Servicer to identify itself (or any
sub-subservicer the Primary Servicer enters into a sub-subservicing agreement with pursuant to Section 2.02 hereof) as a Servicing
Function Participant pursuant to the PSA, (iv) any failure by Primary Servicer to comply with the obligations of a Servicing Function
Participant under the PSA or (v) any Deficient Exchange Act Deliverable.

 

In addition, the
Primary Servicer shall cooperate (and require each Servicing Function Participant and Additional Servicer retained by it to cooperate
under any applicable sub-subservicing agreement) with the Depositor or Other Depositor, as applicable, and the Master Servicer
as necessary for the Depositor or Other Depositor, as applicable, and the Master Servicer 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.

 

In connection with
comments provided to the Depositor or any Other Depositor from the Commission or its staff regarding information (x) delivered
by the Primary Servicer, (y)

 

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regarding
the Primary Servicer, and (z) prepared by the Primary Servicer or any registered public accounting firm, attorney or other agent
retained by the Primary Servicer 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, upon receipt of such comments from the Depositor or Other Depositor, the Master Servicer
shall promptly provide to the Primary Servicer any such comments which relate to the Primary Servicer. Primary Servicer shall
be responsible for timely preparing a written response to the Commission or its staff for inclusion in the Depositor’s,
Other Depositor’s or the Master Servicer’s, as applicable, response to the Commission or its staff, unless Primary
Servicer elects, with the consent of the Master Servicer (which consent shall not be unreasonably denied, withheld or delayed),
to directly communicate with the Commission or its staff and negotiate a response and/or resolution with the Commission or its
staff; provided that if the Primary Servicer (or a sub-servicer retained by the Primary Servicer) is a Servicing Function Participant
or an Additional Servicer, the Primary Servicer shall provide copies to the Master Servicer of all material communications pursuant
to this paragraph. If such election is made, the Primary Servicer shall be responsible for directly negotiating such response
and/or resolution with the Commission or its staff in a timely manner; provided, that (i) Primary Servicer shall use reasonable
efforts to keep the Depositor or Other Depositor, as applicable, and the Master Servicer informed of its progress with the Commission
or its staff and copy the Depositor or Other Depositor, as applicable, and the Master Servicer on all correspondence with the
Commission or its staff and provide the Depositor or Other Depositor, as applicable, and the Master Servicer with the opportunity
to participate (at the Depositor’s, Other Depositor’s or Master Servicer’s, as applicable, expense) in any telephone
conferences and meetings with the Commission or its staff and (ii) the Master Servicer shall cooperate with the Primary Servicer
in order to authorize the Primary Servicer and its representatives to respond to and negotiate directly with the Commission or
its staff with respect to any comments received from the Commission or its staff relating to Primary Servicer and to notify the
Commission or its staff of such authorization. The Master Servicer and the Primary Servicer shall cooperate and coordinate with
each other with respect to any requests made to the Commission or its staff for any extension of time for submitting a response
or compliance. All reasonable out-of-pocket costs and expenses incurred by the Depositor or Other Depositor, as applicable, and
the Master Servicer (including reasonable legal fees and expenses of outside counsel to the Depositor or Other Depositor, as applicable,
and the Master Servicer) in connection with the foregoing (other than those costs and expenses required to be at the Depositor’s
or Other Depositor’s, as applicable, expense as set forth above) and any amendments to any reports filed with the Commission
or its staff therewith shall be promptly paid by the Primary Servicer upon receipt of an itemized invoice from the Depositor or
Other Depositor, as applicable, and/or the Master Servicer, as applicable. The Primary Servicer 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-subservicing or similar agreement.

 

If the indemnification
provided for in, or contemplated by, this Section 6.02(d) is unavailable or insufficient to hold harmless the Master Servicer,
any Certification Party, the Depositor, any Other Depositor or any employee, director, officer or Affiliate of the Master Servicer,
the Depositor or any Other Depositor, then the Primary Servicer shall contribute to the amount paid or payable to the indemnified
party as a result of the losses, claims, damages or

 

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liabilities
of the indemnified party in such proportion as is appropriate to reflect the relative fault of the indemnified party on the one
hand and the Primary Servicer on the other in connection with a breach of the Primary Servicer’s obligations pursuant to
Article XI of the PSA, this Agreement or the Primary Servicer’s negligence, bad faith or willful misconduct in connection
therewith. The Primary Servicer shall cause any sub-subservicer with which it enters into a servicing relationship with respect
to any Mortgage Loan to agree to the foregoing indemnification and contribution obligations.

 

(e)           The
indemnification, exculpation, and other protections and provisions in this Section 6.02 shall survive the termination of this Agreement
or the resignation of the Master Servicer or the Primary Servicer.

 

Section 6.03. Representations
and Warranties.

 

The Primary Servicer
hereby represents, warrants and covenants to the Master Servicer that as of the date hereof:

 

(a)           The
Primary Servicer is duly organized, validly existing and in good standing under the laws of the state of its organization and is
in compliance with the laws of each jurisdiction in which any Mortgaged Property is located to the extent necessary to perform
its obligations under this Agreement;

 

(b)           The
execution and delivery of this Agreement by the Primary Servicer and its performance and compliance with the terms of this Agreement
do not (i) violate the Primary Servicer’s organizational documents, (ii) constitute a default (or an event that, with notice
or lapse of time, or both, would constitute a default) under, or result in the breach of, any material contract, or other material
instrument to which the Primary Servicer is a party or which is applicable to it or any of the assets or (iii) violate any law,
rule, regulation, order, judgment or decree to which the Primary Servicer or its property is subject, which, in the case of either
of clause (ii) or (iii), does or is likely to materially and adversely affect the Primary Servicer’s ability to perform hereunder
or its financial condition;

 

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

 

(d)           This
Agreement, assuming due authorization, execution and delivery by the Master Servicer, constitutes a valid, legal and binding obligation
of the Primary Servicer, enforceable against it in accordance with the terms of this Agreement, subject to (i) applicable bankruptcy,
insolvency, reorganization, receivership, moratorium and other laws affecting the enforcement of creditors’ rights generally,
and, to the extent applicable, the rights of creditors of national banks or of “financial companies” (as defined in
Section 201 of the Dodd-Frank Act) or their Affiliates, and (ii) general principles of equity, regardless of whether such enforcement
is considered in a proceeding in equity or at law;

 

(e)           The
Primary Servicer is not in violation of, and the execution and delivery of this Agreement by the Primary Servicer and its performance
and compliance with the terms of this

 

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Agreement
will not constitute a violation of, any law, any order or decree of any court or arbiter, or any order, regulation or demand of
any federal, state or local governmental or regulatory authority, which violation, in the Primary Servicer’s good faith
and reasonable judgment, is likely to affect materially and adversely the ability of the Primary Servicer to perform its obligations
hereunder or the financial condition of the Primary Servicer;

 

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

 

(g)           Each
officer and employee of the Primary Servicer that has responsibilities concerning the servicing and administration of Mortgage
Loans is covered by errors and omissions insurance and the fidelity bond maintained by the Primary Servicer in the amounts and
with the coverage required by PSA Section 3.07;

 

(h)           No
consent, approval, authorization or order of, registration or filing with, or notice to, any governmental authority or court is
required under federal or state law for the execution, delivery and performance by the Primary Servicer of, or compliance by the
Primary Servicer with, this Agreement or the Primary Servicer’s consummation of any transactions contemplated hereby, other
than (i) such consents, approvals, authorizations, orders, qualifications, registrations, filings or notices as have been obtained,
made or given prior to the actual performance by the Primary Servicer of its obligations under this Agreement or (ii) where the
lack of such consent, approval, authorization, order, qualification, registration, filing or notice would not have a material adverse
effect on the performance by the Primary Servicer under this Agreement;

 

(i)            The
Primary Servicer is not an Affiliate of the Trustee and is not a Prohibited Party; and

 

(j)            The
Primary Servicer is not Risk Retention Affiliated with any Third Party Purchaser.

 

The foregoing representations
and warranties shall survive the execution and delivery of this Agreement. Upon discovery by either the Master Servicer or the
Primary Servicer of a breach of any of the foregoing representations and warranties, the party discovering such breach shall give
prompt written notice thereof to the other party.

 

ARTICLE VII.

 

PRIMARY SERVICER TERMINATION EVENTS; TERMINATION

 

Section 7.01. Primary
Servicer Termination Events; Primary Servicer Third Party Purchaser Non-Affiliate Covenant.

 

(a)           “Primary
Servicer Termination Event”, wherever used herein with respect to any Primary Servicer, means any one of the following events:

 

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(i)            any
failure by the Primary Servicer to remit to the Primary Servicer Accounts, or to remit to the Master Servicer, any amount required
to be so remitted by the Primary Servicer pursuant to and in accordance with this Agreement; or

 

(ii)           any
failure on the part of the Primary Servicer duly to observe or perform in any material respect any of the other covenants or obligations
which continues unremedied for a period of twenty (20) days (or (A) with respect to any year that a report on Form 10-K is required
to be filed, three (3) Business Days in the case of the Primary Servicer’s obligations under this Agreement in respect of
Exchange Act reporting items (after any applicable grace periods) or (B) ten (10) days in the case of a failure to pay the premium
for any insurance policy required to be maintained hereunder or such shorter period (not less than one (1) Business Day) as may
be required to avoid the lapse of insurance) after the date on which written notice of such failure, requiring the same to be remedied,
shall have been given to the Primary Servicer by the Master Servicer, provided, however, if such failure with a twenty (20) day
cure period is capable of being cured and the Primary Servicer is diligently pursuing such cure, such twenty (20) day period shall
be extended for an additional twenty (20) days; provided that the Primary Servicer has commenced to cure such failure within the
initial twenty (20) day period and has certified that it has diligently pursued, and is continuing to pursue, a full cure; provided,
further, however, that such extended period shall not apply to the obligations regarding Exchange Act reporting; or

 

(iii)          any
breach on the part of the Primary Servicer of any representation or warranty contained in Section 6.03 hereof, which materially
and adversely affects the interests of any Class of Certificateholders or Companion Holders and which continues unremedied for
a period of twenty (20) days after the date on which notice of such breach, requiring the same to be remedied, shall have been
given to the Primary Servicer by the Master Servicer, provided, however, if such breach is capable of being cured and the Primary
Servicer is diligently pursuing such cure, such twenty (20) day period shall be extended for an additional twenty (20) days; provided
that the Primary Servicer has commenced to cure such failure within the initial twenty (20) day period and has certified that it
has diligently pursued, and is continuing to pursue, a full cure; or

 

(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,
liquidator, trustee or similar official in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities
or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against the Primary Servicer
and such decree or order shall have remained in force undischarged, undismissed or unstayed for a period of forty-five (45) days;
or

 

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

 

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

 

(vii)         any
Rating Agency (or, in the case of Serviced Pari Passu Companion Loan Securities, any Companion Loan Rating Agency) has (A) qualified,
downgraded or withdrawn its rating or ratings of one or more Classes of Certificates or one or more classes of Serviced Pari Passu
Companion Loan Securities or (B) placed one or more Classes of Certificates or one or more classes of Serviced Pari Passu Companion
Loan Securities on “watch status” in contemplation of rating downgrade or withdrawal (and in the case of clause (A)
or (B), such action has not been withdrawn by such Rating Agency within 60 days of such rating action) and, in the case of either
of clauses (A) or (B), such Rating Agency publicly cited servicing concerns with the Master Servicer (because of actions of the
Primary Servicer) or the Primary Servicer as the sole or a material factor in such rating action; or

 

(viii)        a
Servicer Termination Event (as defined in the PSA) by the Master Servicer under PSA Section 7.01 which Servicer Termination Event
occurred as a result of the failure of the Primary Servicer to perform any obligation required hereunder; or

 

(ix)           the
failure of the Primary Servicer to comply with any of the requirements under Sections 3.05, 3.06, 3.07 and 3.08 of this Agreement
applicable to such Primary Servicer, including the failure to deliver any reports or certificates at the time such report or certification
is required under Sections 3.05, 3.06, 3.07 and 3.08 of this Agreement which continues unremedied for five (5) days after the date
on which written notice of such failure, requiring the same to be remedied, shall have been given to the Primary Servicer by the
Master Servicer; or

 

(x)            the
Primary Servicer or any primary servicer or sub-subservicer appointed by the Primary Servicer after the Closing Date, fails to
deliver by the due date any Exchange Act reporting items required to be delivered to the Master Servicer, the Certificate Administrator
or the Depositor under Article XI of the PSA or under this Agreement or to the applicable master servicer under any other pooling
and servicing agreement that the Depositor is a party to; or

 

(xi)           the
Primary Servicer or any primary servicer or sub-subservicer appointed by the Primary Servicer after the Closing Date, fails to
perform in any material

 

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respect any of its covenants or obligations contained in this Agreement regarding creating, obtaining or
delivering any Exchange Act reporting items or similar items required for any party to the PSA to perform its obligations under
Article XI of the PSA or under the Exchange Act reporting items or similar items required under any other pooling and servicing
agreement that the Depositor is a party to;

 

then, and in each and every case, so
long as an Primary Servicer Termination Event shall not have been remedied, the Master Servicer may, by notice in writing to the
Primary Servicer, in addition to whatever rights the Master Servicer may have at law or in equity, including injunctive relief
and specific performance, immediately terminate all of the rights and obligations of the Primary Servicer under this Agreement
and in and to any Mortgage Loan and the proceeds thereof, subject to Section 7.02 hereof, without the Master Servicer incurring
any penalty or fee of any kind whatsoever in connection therewith. Except as otherwise expressly provided in this Agreement, no
remedy provided for by this Agreement shall be exclusive of any other remedy, and each and every remedy shall be cumulative and
in addition to any other remedy and no delay or omission to exercise any right or remedy shall impair any such right or remedy
or shall be deemed to be a waiver of any Primary Servicer Termination Event. On or after the receipt by the Primary Servicer of
such written notice of termination from the Master Servicer, all authority and power of the Primary Servicer in this Agreement,
whether with respect to any Mortgage Loan or otherwise, shall pass to and be vested in the Master Servicer, and the Primary Servicer
agrees to cooperate with the Master Servicer in effecting the termination of the Primary Servicer’s responsibilities and
rights hereunder, including, without limitation, the remittance of funds and the transfers of the Primary Servicing Files as set
forth in Section 7.02. Notwithstanding the foregoing, upon any termination of the Primary Servicer, the Primary Servicer will be
entitled to receive all accrued and unpaid Primary Servicing Fees and Additional Primary Servicing Compensation through the date
of termination.

 

(b)           Upon
discovery by the Primary Servicer of any Primary Servicer Termination Event (but regardless of whether any notice has been given
as provided in this Agreement or any cure period provided herein has expired), the Primary Servicer shall give prompt written notice
thereof to the Master Servicer.

 

(c)           The
Master Servicer may waive in writing any default by the Primary Servicer in the performance of its obligations hereunder and its
consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary 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 default or impair any right consequent thereon except to the extent expressly so waived.

 

(d)           The
Primary Servicer shall not be or become Risk Retention Affiliated with or a Risk Retention Affiliate of any Third Party Purchaser.
If the Primary Servicer is or becomes Risk Retention Affiliated with or a Risk Retention Affiliate of any Third Party Purchaser,
the Primary Servicer shall promptly notify the Master Servicer and the Primary Servicer shall be terminated as Primary Servicer
under this Agreement pursuant to Section 7.02(a)(ii) below.

 

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Section 7.02. Termination
of Agreement.

 

(a)           This
Agreement shall be terminated with respect to any Primary Servicer:

 

(i)            pursuant
to Section 3.20 of the PSA and Section 7.01 hereof, if the Master Servicer elects to terminate the Primary Servicer following a
Primary Servicer Termination Event;

 

(ii)           promptly
following the Primary Servicer being or becoming Risk Retention Affiliated with or a Risk Retention Affiliate of any Third Party
Purchaser;

 

(iii)          at
the Depositor’s request (to the extent the Depositor has a right to request termination under the PSA) pursuant to Section
7.01(a)(x) or (xi) hereof or PSA Section 3.20(a)(ix);

 

(iv)          upon
resignation by the Primary Servicer as provided in Section 6.01 hereof; or

 

(v)           with
respect to any Mortgage Loan, in the event such Mortgage Loan (A) becomes a Specially Serviced Loan or (B) is substituted, defeased,
purchased or repurchased pursuant to PSA Sections 2.03, 3.16, 3.18 or 9.01.

 

(b)           If
the Master Servicer’s responsibilities and duties as Master Servicer under the PSA have been assumed by the Trustee, the
Trustee shall, without act or deed on the part of the Trustee, succeed to all of the rights and obligations of the Master Servicer
under this Agreement as provided in PSA Section 3.20, and the Primary Servicer shall be bound to the Trustee under all of the terms,
covenants and conditions of this Agreement with the same force and effect as if the Trustee was originally the Master Servicer
under this Agreement; and the Primary Servicer does hereby attorn to the Trustee, as the Master Servicer hereunder, said attornment
to be effective and self-operative without the execution of any further instruments on the part of any of the parties hereto immediately
upon the Trustee succeeding to the interest of the Master Servicer hereunder. The Primary Servicer agrees, however, upon written
demand by the Trustee to promptly execute and deliver to the Trustee an instrument in confirmation of the foregoing provisions,
satisfactory to the Trustee, in which the Primary Servicer shall acknowledge such attornment and shall confirm to the Trustee its
agreement to the terms and conditions of this Agreement. References to the Trustee under this Section 7.02, shall include any successor
Master Servicer under the PSA.

 

(c)           Termination
pursuant to this Section or as otherwise provided herein shall be without prejudice to any rights of the Master Servicer or the
Primary Servicer which may have accrued through the date of termination hereunder. In connection with any such termination, the
terminated Primary Servicer shall (i) remit all funds in the related Primary Servicer Accounts to the Master Servicer or such other
Person designated by the Master Servicer, net of accrued Primary Servicing Fees and Additional Primary Servicing Compensation through
the termination date which are due and payable to the Primary Servicer, (ii) deliver all related Primary Servicing Files to the
Master Servicer or to Persons designated by the Master Servicer, and (iii) fully cooperate with the Master Servicer to effectuate
an orderly transition of the servicing of the

 

     23

     

    

 

related
Mortgage Loans. All rights of the terminated Primary Servicer relating to the following after such termination shall continue
in full force and effect until payment or other satisfaction in accordance with this Agreement or termination of the Trust: (y)
indemnification pursuant to Section 6.02; and (z) the payment of its Primary Servicing Fees and Additional Primary Servicing Compensation
which in any such case accrued under the terms of this Agreement on or before the date of such termination shall continue in full
force and effect until payment or other satisfaction in accordance with this Agreement.

 

ARTICLE VIII.

 

MISCELLANEOUS PROVISIONS

 

Section 8.01. Rating
Agency Communications.

 

(a)           Except
as required by the PSA or by law, the Primary Servicer shall not provide any information directly to, or communicate with, either
orally or in writing, any Rating Agency or any NRSRO regarding the Certificates or any Mortgage Loan relevant to such Rating Agency’s
or NRSRO’s surveillance of the Certificates or Mortgage Loans, including, but not limited to, providing responses to inquiries
from a Rating Agency or NRSRO regarding the Certificates or any Mortgage Loan relevant to such Rating Agency’s or NRSRO’s
surveillance of the Certificates and requests for Rating Agency Confirmation. All such information will be provided by, and all
such communications, responses and requests will be made by, the Master Servicer in accordance with the procedures required by
the PSA. To the extent that the Master Servicer is required to provide any information to, or communicate with, any Rating Agency
or NRSRO in accordance with its obligations under the PSA and such information or communication is regarding any Mortgage Loan
or the primary servicing by the Primary Servicer under this Agreement, the Primary Servicer shall provide the information to the
Master Servicer necessary for the Master Servicer to fulfill such obligations. None of the foregoing restrictions in this Agreement
shall prohibit or restrict oral or written communications, or providing information, between the Primary 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 Primary Servicer, (ii) such Rating Agency’s or NRSRO’s approval of the Primary Servicer as
a commercial mortgage master, special or primary servicer or (iii) such Rating Agency’s or NRSRO’s evaluation of the
Primary Servicer’s servicing operations in general; provided, that the Primary Servicer shall not provide any information
relating to the Certificates or any Mortgage Loan to any Rating Agency or NRSRO in connection with such review and evaluation by
such Rating Agency or NRSRO unless (x) Mortgagor, property and other deal specific identifiers are redacted; or (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.

 

(b)           The
Primary Servicer hereby expressly agrees to indemnify and hold harmless the Master Servicer and its respective officers, directors,
shareholders, members, managers, employees, agents, Affiliates and controlling persons, and the Trust Fund (each, an “Indemnified
Party”), from and against any and all losses, liabilities, damages, claims, judgments, costs, fees, penalties, fines, forfeitures
or other expenses (including reasonable legal fees and expenses), joint or several, to which any such Indemnified Party may become
subject, under the Securities

 

     24

     

    

 

Act,
the Exchange Act or otherwise, pursuant to a third-party claim, insofar as such losses, liabilities, damages, claims, judgments,
costs, fees, penalties, fines, forfeitures or other expenses (including reasonable legal fees and expenses) arise out of or are
based upon the Primary Servicer’s breach of this Section 8.01 (including, without limitation, a determination by a 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), but solely to the extent such determination is caused by a breach of this Section 8.01 by the Primary Servicer),
and will reimburse such Indemnified Party for any legal or other expenses reasonably incurred by such Indemnified Party in connection
with investigating or defending any such action or claim, as such expenses are incurred.

 

Section 8.02. Amendment.

 

This Agreement
contains the entire agreement between the parties relating to the subject matter hereof, and may be amended from time to time by
the Master Servicer and the Primary Servicer only by written agreement executed by the party or parties against whom the enforcement
of such amendment is sought. Master Servicer shall not consent to any modification to the PSA in any manner which would increase
the obligations or limit the rights of the Primary Servicer under the PSA or under this Agreement without the prior consent of
the Primary Servicer (which consent shall not be unreasonably withheld).

 

Section 8.03. Governing
Law; Submission to Jurisdiction; Waiver of Jury Trial

 

(a)           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.

 

(b)           EACH
OF THE PARTIES HERETO IRREVOCABLY (I) SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE FEDERAL
COURTS OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY ACTION OR PROCEEDING RELATING
TO THIS AGREEMENT; (II) WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM IN ANY ACTION OR PROCEEDING
IN ANY SUCH COURT; (III) AGREES THAT A FINAL JUDGMENT IN ANY ACTION OR PROCEEDING IN ANY SUCH COURT SHALL BE CONCLUSIVE AND MAY
BE ENFORCED IN ANY OTHER JURISDICTION BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW; AND (IV) CONSENTS TO SERVICE
OF PROCESS UPON IT BY MAILING A COPY THEREOF BY CERTIFIED MAIL ADDRESSED TO IT AS PROVIDED FOR NOTICES HEREUNDER.

 

     25

     

    

 

(c)           THE
PARTIES HERETO HEREBY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM,
WHETHER IN CONTRACT, TORT OR OTHERWISE, RELATING DIRECTLY OR INDIRECTLY TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section 8.04. Notices.

 

All demands, notices
and communications hereunder shall be in writing and addressed in each case as follows:

 

(a)           if
to the Primary Servicer, as set forth on each signature page included herewith; and

 

(b)           if
to the Master Servicer:

 

by U.S. Mail at:

 

Midland Loan Services,
a Division of PNC Bank, National Association 

P.O. Box 25965 

Shawnee Mission, KS 66225-5965 

Attention: Executive Vice
President - Division Head 

Facsimile No.: (888) 706-3565 

Email: NoticeAdmin@midlandls.com and MLSSubservicergroup@midlandls.com

 

or
by delivery to:

 

Midland Loan Services,
a Division of PNC Bank, National Association 

10851 Mastin, Suite 300 

Overland Park, KS 66210 

Attention: Executive Vice
President - Division Head

 

Any of the above-referenced Persons may
change its address for notices hereunder by giving notice of such change to the other Persons. All notices and demands shall be
deemed to have been given at the time of the delivery at the address of such Person for notices hereunder if personally delivered,
mailed by certified or registered U.S. mail, postage prepaid, return receipt requested, or sent by overnight courier or telecopy.
Notwithstanding the foregoing, Primary Servicer may deliver any of the items required to be delivered to the Master Servicer under
Sections 3.05-3.08 of this Agreement through electronic mail at NoticeAdmin@midlandls.com or such other email address provided
to Primary Servicer from the Master Servicer from time to time.

 

(c)           To
the extent that any demand, notice or communication hereunder is given to any Primary Servicer by a Responsible Officer of the
Master Servicer, such Responsible Officer shall be deemed to have the requisite power and authority to bind the Master Servicer
with respect to such communication, and any Primary Servicer may conclusively rely upon and shall be protected in acting or refraining
from acting upon any such communication. To the extent that

 

     26

     

    

 

any
demand, notice or communication hereunder is given to the Master Servicer by a Responsible Officer of any Primary Servicer, such
Responsible Officer shall be deemed to have the requisite power and authority to bind the Primary Servicer with respect to such
communication, and the Master Servicer may conclusively rely upon and shall be protected in acting or refraining from acting upon
any such communication. Any notice required to be delivered under this Agreement may be provided electronically (including by
electronic mail).

 

Section 8.05. Consistency
with PSA; Severability of Provisions.

 

This Agreement
shall be subject to the provisions of the PSA, which provisions shall be paramount and controlling and shall supersede the provisions
of this Agreement to the extent of any conflicts or inconsistencies. If one or more of the provisions of this Agreement shall be
for any reason whatever held invalid or unenforceable or shall be determined to be inconsistent with the PSA, such provisions shall
be deemed severable from the remaining covenants, agreements and provisions of this Agreement and such invalidity or unenforceability
shall in no way affect the validity or enforceability of such remaining provisions or the rights of any parties hereto. To the
extent permitted by law, the parties hereto hereby waive any provision of law that renders any provision of this Agreement invalid
or unenforceable in any respect.

 

Section 8.06. Inspection
and Audit Rights.

 

The Primary Servicer
agrees that, on reasonable prior notice, it will permit any representative of the Master Servicer, during the Primary Servicer’s
normal business hours, reasonable access at its principal servicing offices to examine all books of account, records, reports and
other documents of the Primary Servicer relating to any Mortgage Loan, to make copies and extracts therefrom, to cause such books
to be audited by accountants selected by the Master Servicer, and to discuss matters relating to any Mortgage Loan with the Primary
Servicer’s officers and employees.

 

Section 8.07. Protection
of Confidential Information.

 

The Primary Servicer
shall keep confidential and shall not divulge to any party, without the Master Servicer’s prior written consent, any information
pertaining to any Mortgage Loan, the Mortgaged Properties or the Mortgagors except to the extent that the Primary Servicer provides
prior written notice to the Master Servicer and (a) it is appropriate for the Primary Servicer to do so (i) in working with legal
counsel, auditors, other advisors, taxing authorities or other governmental agencies, (ii) in accordance with Accepted Primary
Servicing Practices or (iii) when required by any law, regulation, ordinance, court order or subpoena or (b) the Primary Servicer
is disseminating general statistical information relating to any mortgage loan being serviced by the Primary Servicer (including
any Mortgage Loan) so long as the Primary Servicer does not identify the owner of any Mortgage Loan or any Mortgagor.

 

Section 8.08. Binding
Effect; No Partnership; Counterparts.

 

Subject to Section
6.01 hereof, with respect to the Primary Servicer, the provisions of this Agreement shall be binding upon and inure to the benefit
of the respective successors and assigns of the parties hereto. Nothing herein contained shall be deemed or construed to create
a partnership or joint venture between the parties hereto, and the services of the Primary Servicer

 

     27

     

    

 

shall
be rendered as an independent contractor for the Master Servicer. For the purpose of facilitating the execution of this Agreement
as herein provided and for other purposes, 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.

 

Section 8.09. Third
Party Beneficiaries.

 

The Trustee (for
the benefit of the Certificateholders and the related Companion Holder (if applicable)) and the Trustee (as holder of the Lower-Tier
Regular Interests) shall be a third party beneficiary under this Agreement. Except to the extent the Trustee or its designee assumes
the obligations of the Master Servicer contemplated in this Agreement and the PSA, none of the Trust, the Trustee, the Operating
Advisor, the Asset Representations Reviewer, the Certificate Administrator, the Special Servicer, any successor special servicer,
any successor master servicer or any Certificateholder (or the related Companion Holder, if applicable) shall have any duties under
this Agreement or any liabilities arising from this Agreement.

 

Section 8.10. Article
and Section Headings.

 

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

 

[SIGNATURE PAGES TO FOLLOW]

 

     28

     

    

 

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

 

	 	MIDLAND LOAN SERVICES, A DIVISION OF PNC
BANK, NATIONAL ASSOCIATION
	 	 
	 	By:	/s/ David A. Eckels
	 	 	 
	 	Name:	David A. Eckels
	 	 	 
	 	Title:	Senior Vice President
	 	 	 
	 	 	(“Master
Servicer”)

 

[SIGNATURE AND NOTICE ADDRESS PAGES
AND MORTGAGE LOAN 

SCHEDULES FOR THE PRIMARY SERVICER TO
FOLLOW]

 

Berkeley-Midland
Primary Servicing Agreement – UBS 2018-C12 – Midland Signature Page 

 

     

     

    

 

	 	BERKELEY
POINT CAPITAL LLC
	 	 
	 	By:	/s/ Dave Maisel
	 	 	 
	 	Name:	Dave Maisel
	 	 	 
	 	Title: 	Managing Director
	 	 	 
	 	 	(“Primary
Servicer”)

 

	 	Notices:
	 	 
	 	Berkeley Point Capital LLC

One Beacon Street 14th
Floor

Boston, MA 02108

Attention: Director and
Head of Servicing

Fax Number: 617-722-5050

Email: Servicing.Requests@berkpoint.com 

	 	 
	 	With a copy to:
	 	 
	 	Berkeley Point Capital LLC

7700 Wisconsin Avenue, Suite 1100

Bethesda, MD 20814

Attention: Raqual Crea – Legal Department

Fax Number: 240-752-8121

 

Berkeley-Midland
Primary Servicing Agreement – UBS 2018-C12 – Berkeley Signature Page 

  

     

     

    

 

SCHEDULE I

 

Mortgage Loan Schedule

 

	Property Name	Principal Balance	Primary Servicing Fee Rate

(basis points)
	Riverwalk Mortgage Loan (Notes A-1 and A-2)	$45,000,000.00	0.125 
	Riverwalk Companion Loans (Notes A-3, A-4, A-5 and A-6)	$35,700,000.00	0.125

 

Berkeley-Midland
Primary Servicing Agreement – UBS 2018-C12 – Schedule 

 

     

     

    

 

EXHIBIT “A”

 

(Day One Report)

 

(see attached)

 

    A-1

     

    

 

	Subservicer Name: _________________________________	 	 	 	 	 	 	 	 	 
	Deal Name: ______________________________________	 	 	 	 	 	 	 	 	 
	Reporting Period: _________________________________	 	DAY ONE REPORT	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Midland
    Loan #	Sub
    Loan #	Beg.
    Scheduled Prin Bal	Actual
    Paid To Date	Schdeuled
    Principal Balance	Prepayment
    Penalty	Prepayment
    Date	Scheduled
    Interest Payment	Scheduled
    Principal Payment	Scheduled
    P&I	Servicing
    Fee Rate	Servicing
    Fee	Net
    Remittance
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTALS:	 	 	 	 	 	 	 	 	 	 	 	 

 

    A-2

     

    

 

EXHIBIT “B”

 

(Inspection Reports)

 

(see attached)

 

    B-1

     

    

 

	 	 	 	 	 
	  	Mortgage
                                         Bankers Association
	Version:
        1.22
	  	Property
                                         Inspection Workbook Tools
	  	  
	  	  	  	  
	 
    	 General
    Purpose Tools 	 
    	 
    	 
    
	 
    	  	  	 
    
	 	 	 	 
	 
    	Select
                                         Check Spelling to run Excel’s spell checker 

                                         on all property inspection worksheets.
		 
    
	 
    	  	  	 
    
	 
    	  	  	 
    
	 	Select
                                         Print to display the MBA Property Inspection

                                         worksheet selection form where you can select the

        worksheet(s)
        to print.
		 
	 
    	 	 
    	 
    

  

	 
    	 Company
    Logo 	 
    	 
    	 
    
	 
    	  	  	 
    

	 
    	  	  	 
    
	  	  	  	  
	  	  	  	  
	  	  	  	  
	 See
                                         MBA Reference Guide for Property Inspection Report for instructions to insert logo

 

    B-2

     

    

 

MBA
INSPECTION FORM KEY

	 	 
	Mortgage
    Bankers Association
	Standard
    Property Inspection Form Definitions
	For
    additional information, please refer to the MBA Inspections White Paper
	Ratings
    Definitions
	1	New
    or like new condition
All major building components are new or like new
All vacant units/space are rent ready &
    reflect the highest current market standards
No deferred maintenance items (only routine maintenance)
No life safety
    or code violations exist
Positive impact to marketability
Deferred Maintenance and Life Safety – No actions
    are required
	2	Above
    average condition for the property’s age and market, minimal wear and tear
All major building components in functional
    condition
All vacant units/space are rent ready or in the process of being made rent ready
No deferred maintenance items
    (only routine maintenance)
No life safety or code violations exist
No impact to marketability
Deferred Maintenance
    and Life Safety – No actions are required
	3	Normal
                                         condition for the property’s age and market, general wear and tear.

                                         All major building components in functional condition

                                         Most vacant units or space are rent ready or in the process of being made rent ready

                                         Minimal deferred maintenance and routine maintenance items with costs that can be funded
                                         by normal operations

                                         No/minor life safety or code violations exist

                                         No impact to marketability

                                         Deferred Maintenance and Life Safety - Appropriate actions are planned or in progress

	4	Deteriorating
                                         condition for the property’s age and market

                                         A building component is not in fully functional condition

                                         Few rent-ready units or space

                                         Limited major deferred maintenance &/or numerous minor deferred maintenance items

                                         Some life safety or code violations exist

                                         Negative impact to marketability

                                         Deferred Maintenance and Life Safety - Actions are not addressed as quickly
                                         as required and/or further action is necessary, additional monitoring may be appropriate
                                         

	5	Inferior
    conditions
Multiple building components non-functional
Vacant units or space are in poor to down condition
Severe
    deferred maintenance items
Multiple life safety or code violations exist
Negative impact to marketability
Deferred
    Maintenance and Life Safety – No Action taken and/or further action is necessary – additional monitoring is appropriate
	 Not
 Applicable	No
    components exist (therefore, no rating is possible)
	 Not
    
 Accessible	No
    component was visible due to inability to view the condition based on access, life safety, weather conditions or other blockages.
Deferred
    maintenance items can not be determined based on lack of access
Further action or review may be required

  

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	

 

    B-3

     

    

 

General
Info     

	  	  	  	  	  	  	  	  	  
	Company
    Name/Logo	  	Standard
    Inspection Form
	  	  	  	  	  	  	  	  	  
	 Inspection Date	 
    	 
    	Time   	 
    	  	Property City	 
    	 
    
	 Loan Number	 
    	  	  	  	  	Property State/Country	 
    	/               
	 Property Name	 
    	  	  	  	  	Overall Property Rating	 
    	 
    
	  	  	  	  	  	  	  	  	  
	 Servicer,
    Loan and Contact Information
	 Servicer Name	 
    	  	  	  	  	Contact Company	 
    	 
    
	 Owner of Loan	 
    	  	  	  	  	Contact Name	 
    	           /
	 Investor Number	 
    	     	  	  	  	Contact Phone	 
    	 
    
	 Investor Loan #	 
    	  	  	  	  	Contact
    Email	 
    	 
    
	 Property ID	 
    	  	  	  	  	Addt’l
    ID #1 (editable)	 
    	 
    
	 Original Loan Amount	  	 
    	  	  	  	Addt’l
    ID #2 (editable)	 
    	 
    
	 Loan Balance (UPB)	  	 
    	  	  	  	O&M Plan(1)	  	 
    
	 Loan Balance as
    of Date	  	 
    	  	  	  	Report Reviewed By	  	               /
	 (1)
    Includes ALL Plans (such as, but not limited to, Operations &
    Maintenance, Moisture Management and Environmental Remediation)
	 Property
    and Inspector Information
	 Property Name	 
    	  	  	  	  	Primary Property Type	  	 
    
	 Property Address	 
    	  	  	  	  	Secondary Property Type	  	 
    
	 Property City	 
    	  	  	  	  	Inspection Company	  	 
    
	 Property State	 
    	  	  	  	  	Inspection Co. Phone	  	 
    
	 Property Zip	 
    	  	  	  	  	Inspector’s Name	  	               /
	  	  	  	  	  	  	Inspector’s ID	  	 
    

 

	 Lender’s
    or Servicer’s General Comments or Instructions to Inspector for Subject Property:
	 
    
	 
    
	 
    
	 
    
	 
	 
    

 

	 Property
    Inspector’s General Comments or Suggestions to Lender or Servicer on the Subject Property:
	 
    
	 
    
	 
    
	 
	 
    
	 
    

	  	  	  	  	  	  	  
	 Overview
    of Property Information
	 Number of Buildings	 
    	  	Year Built	 
    
	 Number of Floors	 
    	  	  	  	Total Square Feet (Gross)	 
    
	 Number of Elevators	 
    	  	  	  	Total Sq. Feet (Net /
    Rentable)	 
    
	 Number of Parking
    Spaces	 
    	  	  	  	Occupied Space	 
    
	 Number of Units
    / Rooms / Beds	 
    	  	  	  	Vacant Space	 
    
	 Rent Roll obtained
    at Inspection	 
    	  	  	  	Total Percent Occupied	 
    
	 Total
    Number of Down Units / Rooms / Beds	  	 
    	  	Annual Occupancy	 
    
	 Unit of Measurement
    Used	  	  	 
    	  	Annual Turn Over	 
    
	  	  	  	  	  	  
	 Property
    Offers Rental Concessions	 
    	 
    	 
    	If
    yes, please describe concessions:
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	 
    	  	  	  	  	  	 
    
	

    Copywrite 2008 Mortgage Bankers Association, Washington, DC	  	  	    

  

    B-4

     

    

 

General
Info     

	  	  	  	  	  	  	  	  	  	  	  	  
	 Inspection Date	 
    	 
    	        Time   	 
    	  	Property City	 
    	  	 
    
	 Loan Number	 
    	  	  	  	  	  	  	Property State/Country	 
    	  	/
	 Property Name	 
    	  	  	  	  	  	  	Overall Property Rating	 
    	  	 
    
	  	  	  	  	  	  	  	  	  	  	  	  
	 Franchise Name	 
    	  	Franchise
    change since last inspection	 
    
	  	  	  	  	  	  	  	  	  
	 Number
    of Occupied Units Inspected	  	 
    	  	  	Number of
    Vacant Units Inspected	  	 
    
	  	  	  	  	  	  	  	  	  
	 Is there
    any dark space?	 
    	  	  Describe:	 	 
	 Is there
    any down space?	 
    	  	  Describe:	 	 

	  	  	  	  
	 Capital
    Expenditures	  	  	  
	 Describe
    in detail Repairs, Replacements or Capital Improvements	Identified
    Cost	Status
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    
	 
    	 
    	 
    

	  	  	  	  	  	  	  	  
	 Neighborhood
    and Site Comparison Data
	 Is the
    area declining or distressed	  	 
    	  	Percent
    Use - %
	 Is there
    any new construction in the area	  	  	Single Family	 
    
	 Top 2 Major	1. 	Name or Type	 
    	 
    	  	Multifamily	 
    
	 Competitors:	  	  Distance	 
    	  	  	Commercial	 
    
	  	2.  	Name or Type	 
    	  	  	Industrial	 
    
	  	  	  Distance	 
    	  	  	Undeveloped	100%

 

	 Describe
    area, surrounding land use & overall trends (include location in relation to subject property - N, S, E, W):
	 
    
	 
    
	 
    
	 
    
	 
    
	 
    
	 
    
	 
    
	 
    
	 
    

	  	  	  	  	  	  	  	  
	 Management
    Company Information	  	  	  
	 Management Company
    Name	 
    	  	Phone Number	 
    
	 On Site Contact	                    /	  	Mgmt Interview	 
    
	 Role or Title of
    Contact	 
    	  	Length of
    time at property	 
    
	 Management Affiliation	 
    	  	Change since
    last inspection	  	 
    
	  	  	  	  	  	  	  
	 Other
    Information
	 Additional
    Collateral Description Information	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	  	  	  	  	  	  	  
	 
    	  	  	  	  	  	 
    
	
Copywrite
    2008 Mortgage Bankers Association, Washington, DC	  	  	    

 

    B-5

     

    

 

	  	 	 	  	  	  	  	  	  	  	  
	  	  	  	Physical
    Condition & DM     
	 	 	 	 
	Standard
                                         Inspection Form

         
	  	  
	Inspection Date	 
    	Time    	 
    	  	Property City	 
    
	Loan Number	 
    	  	Property State/Country	 
    	/	 
    
	Property Name	 
    	  	Overall Property
    Rating	 
    

 

	Physical
    Condition Assessment and Deferred Maintenance
	 

 

	Property
    Assessment

 

	Physical

        Condition
	Overall

        Rating
	Trend	Representative
                                         Components

        (Not all-inclusive)
	Inspector
    Comments
	 
    	 
    	  	  	  
	Curb
    Appeal	 
    	  	Comparison
    to Neighborhood; First Impression / Appearance	 
    
	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	  	  	  
	Site	 
    	  	Subject
    Property Appearance; Signage; Ingress/Egress; Landscaping; Site Lighting; Parking Lot; Striping; Garage/Carports; Irrigation
    System; Drainage; Retaining Walls; Walkways; Fencing; Refuse Containment & Cleanliness, Hazardous Material Storage	 
    
	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	  	  	  
	Building
                                         /

        Mechanical

        systems
	 
    	  	HVAC;
    Electrical; Boilers; Water Heaters; Fire Protection; Sprinklers; Plumbing; Sewer; Solar Systems; Elevators/ Escalators; Chiller
    Plant; Cooling Towers; Building Oxygen Systems; Intercom System; PA System; Security Systems	 
    
	 
    	 
    	 
    	 
    	 
    
	Building

        Exteriors
	 
    	 
    	Siding;
    Trim; Paint; Windows; Exterior Entry Ways; Stairs; Railings; Balconies; Patios; Gutters; Downspouts; Foundations; Doors; Façade;
    Structure (Beam/Joist)	 
    
	 
    	 
    	  	  	  
	Building

        Roofs
	 
    	  	Roof
    Condition; Roof Access; Top Floor Ceilings; Shingles/ Membrane; Skylights; Flashing; Parapet walls; Mansard roofs	 
    
	 
    	 
    	 
    	 
    	 
    
	Occupied

        Units
        / Space
	 
    	 
    	HVAC;
    Ceiling; Floors; Walls; Painting; Wall Cover; Floor Cover; Tiles; Windows; Countertop; Cabinets; Appliances; Lighting; Electrical;
    Bathroom Accessories; Plumbing Fixtures; Storage; Basements/Attics	 
    
	 

        Vacant
        Units /

        Space
        /

        Hotel
        Rooms

         
	 
    	 
    	HVAC;
    Ceiling; Floors; Walls; Painting; Wall Cover; Floor Cover; Tiles; Windows; Countertop; Cabinets; Appliances; Lighting; Electrical;
    Bathroom Accessories; Plumbing Fixtures; Storage; Basements/Attics	 
    
	 

        Down
        Units /

        Space
        /

        Hotel
        Rooms

         
	 
    	 
    	HVAC;
    Ceiling; Floors; Walls; Painting; Wall Cover; Floor Cover; Tiles; Windows; Countertop; Cabinets; Appliances; Lighting; Electrical;
    Bathroom Accessories; Plumbing Fixtures; Storage; Basements/Attics	 
    
	 
    	 
    	  	  	  
	Interior

        Common

        Areas
	 
    	  	Mailboxes;
    Reception Area; Lobby; Food Courts; Dining Areas; Kitchen; Halls; Stairways; Meeting Rooms; Public Restrooms; Storage; Basement;
    Healthcare Assistance Rooms; Pharmacy / Medication Storage; Nurses Station	 
    
	 
    	 
    	 
    	 
    	 
    

 

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	     

 

    B-6

     

    

 

	 	 	 	 	 	 	 	 	 	 	 
	  	 	 	  	  	 	 	 	Physical
    Condition & DM     
	 	 	 	 
	Inspection Date	 
    	Time    	 
    	  	Property City	 
    
	Loan Number	 
    	  	Property State/Country	 
    	/	 
    
	Property Name	 
    	  	Overall Property
    Rating	 
    

 

	Amenities
	 
    	 
    	Pool; Clubhouse;
        Gym; Laundry Area / Rooms; Playground; Wireless Access; Restaurant/Bar; Business Center; Sport Courts; Spa; Store; Media
        Center
	 
    
	Management

        Competence
	 
    	 
    	Professionalism;
    Ability to respond to questions; Knowledge of property; Knowledge of neighborhood/ market; Preparedness for inspection; Had
    all requested paperwork; Tenants notified	 
    

 

	Exterior
    - Additional description of the property conditions:
	 

         

         

	  
	Interior
    - Additional description of the property conditions:
	 

         

         

 

	Deferred
    Maintenance Items

 

	Identify
    Item and Describe Condition (including location)	Rating	Photo

        #
	Life

        Safety
	Est.
    Cost
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    
	 

         
	 
    	 
    	 
    	 
    

 

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	     

 

    B-7

     

    

 

	  	  	  	  	  	  	  	  	 	 	  
	Standard Inspection Form	  	  
	  	  	  	  	  	  	  	  	  	  
	Inspection Date	 
    	Time   	 
    	  	Property City	 
    	 
    	 
    
	Loan Number	 
    	 
    	 
    	  	Property State/Country	 
    	 
    	  /	 
    
	Property Name	 
    	 
    	 
    	  	Overall Property
    Rating	  	 
    
	  	  	  	  	  	  	  	  	  
	Photos

  

	 	 

    B-8

     

    

  

Mgmt Interview      

	  	  	  	  	  	  	  	  	 	 	  
	Company
    Name/Logo	  	  	Standard
    Inspection Form
	  	  	  	  	  	  	  	  	  	  
	Inspection Date	 
    	Time   	 
    	  	Property City	 
    	 
    	 
    
	Loan Number	 
    	 
    	 
    	  	Property State/Country	 
    	 
    	  /	 
    
	Property Name	 
    	 
    	 
    	  	Overall Property
    Rating	  	 
    
	  	  	  	  	  	  	  	  	  
	Management
    Information & Interview

 

	  	 
    	  	  	 
    	 
    	 
    
	Management Company Name	 
    	  	Phone Number	 
    	 
    
	Name of Information Source	                  /	  	Email Address	 
    	 
    
	Role or Title of Information
    Source	 
    	  	Length of
    time at property	 
    
	Management Affiliation	 
    	  	Mgmt change
    from last inspection	 
    

	  	  	  
	In your opinion, how does
    the property perform compared to similar properties in the area?	 
    	 
    
	In your opinion, what
    is the average percentage of vacancy in similar properties in the area?	  	 
    
	Based on market survey,
    what is the current average rents paid in the area ($ per square foot/units/beds)?	  	 
    
	In
    your opinion, explain the reason for any variance on vacancy & rents between the market and the subject property:	  	  
	 
    	  	 
    
	  	  	  
	In the past 12 months,
    have there been any fires, significant water intrusion or other property damage?	  	 
    
	If
    yes, explain the location on the property, costs associated, any insurance claims submitted, resolution & leaseability:	  	  
	 
    	  	 
    
	  	  	  
	In the past 12 months,
    to the best of your knowledge, have any code violations been received?	  	 
    
	If
    yes, please describe the violation, the costs associated and any resolution or outstanding issues:	  	  
	 
    	  	 
    
	  	  	  
	Is the property undergoing
    any significant rehab/construction?	  	 
    
	If
    yes, explain the location, size and estimated costs:	  	  
	 
    	  	 
    
	  	  	  
	Is the property in compliance
    with ALL O&M Plan(s)?	 
    	 
    
	(Plans
    such as, but not limited to, Operations and Maintenance, Moisture Management and Environmental Remediation.)	  	  
	If
    no, please explain which plan(s), the requirements, noncompliance items and estimated costs:	  	  
	 
    	  	 
    
	  	  	  
	Any change or violations
    of a Franchise Agreement or License(s) at the property?	 
    	 
    
	If
    yes, please explain any change or violation, costs & any resolution or outstanding issues:	  	  
	 
    	  	 
    
	  	  	  
	To the best of your knowledge,
    are there any lawsuits pending that may negatively impact the property?	  	 
    
	If
    yes, please explain:	  	  
	 
    	  	 
    
	  	  	  
	Other
    Information or Comments:	  	  
	 
    	  	  
	 
    	  	 
    
	  	  	  
	Copyright
    2008 Mortgage Bankers Association, Washington, DC	  	   

 

    B-9

     

    

 

Multifamily 

 

Standard
Inspection Form 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property
    State/Country	 
    	 /	 
    
	Property
    Name	 
    	 
    	 
    	Overall
    Property Rating	 
    

 

	Multifamily,
    Mobile Homes, Cooperative Housing, Student Housing

	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	Property
    Information
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	Heat at the
    Property	 
    	  	  	Gas at the
    Property	 
    
	Water at the
    Property	 
    	  	  	Trash at the
    Property	 
    
	Electric at
    the Property	 
    	  	  	Cable at the
    Property	 
    
	Change to
    Major Employer	 
    	  	  	If yes, describe:	 
    
	Change to
    Commercial/Retail	 
    	  	  	If yes, describe:	 
    
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  Unit Breakdown	 	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  

	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	#
    of Bedrms	#
    of Bath	#
    of Units	Avg
    Ft2
    / Unit	Monthly
    Rent	#
    Occupied	#
    Vacant	#
    Down	#
    Inspected
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	Totals	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	Tenant Profile	 	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	 
    	 
    
	   Corporate	 
    	  	Military	 
    	  	Seasonal	 
    	  	Seniors	 
    	  	Students	 
    	Other	100%
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	Property
    Condition
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	Detailed
    Report of Units Inspected	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  	  
	Unit
    #	#
    of Bedrms	#
    of Bath	Square
    Feet	Asking
    Rent	Current
    Use	 Overall
    Condition	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    

 

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	    

  

    B-10

     

    

 

Healthcare     

 

Standard
Inspection Form

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property State/Country
	 
    	   /	 
    
	Property
    Name	 
    	 
    	 
    	Overall Property
        Rating
	 
    

 

	Healthcare,
    Nursing Home, Hospitals

	 
	   Property Information
	 

	 	 	 	 	 	 	 	 	 	 
	 	General Information	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	Total Number of Beds	 	 	 	Number of Beds Occupied	 
	 	 	 	 	 	% Occupied	 
	 	 	 	 	 	 	 
	 	New Patients Currently being Accepted  	 	 	 	Admission Waiting Period	 
	 	 	 	 	 	Proximity to a Hospital	 

	 	 	 	 	 	 	 	 	 	 
	 	Level of Care Breakdown	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	Unit Type	Total #

Beds	Total # Beds Occupied	
        Total # 

        Units
	Total # Units

Occupied	Avg. S.F. / 

Unit	 Monthly 

Rent	# Beds

Vacant
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	  Totals	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Administrator’s Name	 	/	 	 	Length of Time at Property	 	 
	 	Director of Nursing’s Name	 	/	 	 	Length of Time at Property	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Direct Care Staff Numbers	 	Day	Evening	Night	Comments
	 	 	Nurses -	RNs	 	 	 	 	 
	 	 	Nurses -	LPNs	 	 	 	 	 
	 	 	Other Direct Care	 	 	 	 
	 	Non Direct Care Personnel	 	 	 	 
	 	Total Staff	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Regulatory / Licensing Agency Information	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Name of the Agency	 	 	 	Contact Person	                    /	 	 
	 	Expiration Date of Operating License	 	 	All Licenses Current	 	 	 
	 	Date of last Medicare inspection	 	 	Property Medicare Certified	 
	 	Date of last Medicaid inspection	 	 	Property Medicaid Certified	 
	 	Please describe any violations, costs associated, resolution or outstanding issues: 
	 	 

 

	      Copyright
    2008 Mortgage Bankers Association, Washington, DC	

 

    B-11

     

    

 

Healthcare     

 

Standard
Inspection Form

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property State/Country
	 
    	   /	 
    
	Property
    Name	 
    	 
    	 
    	Overall Property
        Rating
	 
    

	 	 	 	 	 	 	 	 	 
	Property Condition	 	 	 	 
	Handrails in the halls	 	 	Exits clearly marked	 
	Grab bars present in rest rooms	 	 	Intercom System	 
	Staff interacts well with residents	 	 	Generator Function	 
	Facility looks and smells clean	 	 	 	 
	Additional description of any safety or deficiency issues observed: 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	Units or Beds Inspected	 	 	 	 	 
	 	 	 	 	 	 	 
	Down Units (List the unit #)	 	 	 	 
	 	 	 	 	 	 	 
	Detailed Report of Units Inspected	 	 	 	 

 

	Unit #	# of Bedrms	# of Bath	Square Feet	Asking Rent	Current Use	Overall Condition
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

  

	      Copyright
    2008 Mortgage Bankers Association, Washington, DC	

 

    B-12

     

    

  

Standard
Inspection Form

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property State/Country
	 
    	   /	 
    
	Property
    Name	 
    	 
    	 
    	Overall Property
        Rating
	 
    

	  	 	 	 	 	 	 	 	 	  	 	 	  	 	  
	Rent
    Roll
	  	  	  	  	  	  	  	  	  	  	  
	 	 	 	 	 	 	 	 	 	 	 
	Rent Roll Attached	 
    	  	  	(Select
    One)	  	  
	Rent Roll Summary Attached	 
    	  	  	  	  	  	  
	Single Tenant Property	 
    	  	  	Lease expires:	  	  
	Hospitality Property	 
    	  	  	YTD ADR:	  	  	RevPAR: 	 	  	ADO: 	  
	  	  	  	  	  	  	  	  	  	  	  
	Insert
    Rent Rolls in the space below using Excel commands or via Copy and Paste

  

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	     

 

    B-13

     

    

  

Standard
Inspection Form

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date   	 
    	Time	 
    	 
    	 
Property
    City    		 
    
	Loan
    Number   	 
    	 
    	Property State/Country	  	 
	 
    	   	 
    
	Property
    Name   	 
    	 
    	Overall Property
        Rating	
	 
    

 

	Maps
	  

 

	  	Regional
    Map
	  	  
	  	 

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

	  	  
	  	Neighborhood
    Map
	  	  
	  	 

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

         

  

	Copyright
    2008 Mortgage Bankers Association, Washington, DC	    

 

    B-14

     

    
 

Comprehensive
Assessment Addendum     

	  	 	  
	Company
    Name/Logo	 	Standard
    Inspection Form

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property State/Country
	 
    	   /	 
    
	Property
    Name	 
    	 
    	 
    	Overall Property
        Rating
	 
    

 

	 
    	 
    	 
    	 
    	 
    
	Limitations
    of Field Assessment
	  
	Did
    you experience any of the following limitations to performing this field assessment:  (Choose Yes/No)	  
	  	Management
    unavailable for interview or management experience on the property is less than six months	 
    
	  	Occupied units
    were unavailable for assessment, or the total number of units available (occupied or unoccupied) was insufficient	 
    
	  	Significant
    portions of the common areas, amenities or basements, etc. were unavailable for assessment	 
    
	  	Snow was covering
    most exterior areas (parking lots, roofs, landscape areas)	 
    
	  	Other	  	  	  
	  	None	 
    	  	  
	  	Comment:	 
    	  	 
    

	  	  	  
	Comprehensive
    Property Assessment Ratings
	  	  	  
	1.  	Life
    Safety (Choose the one that applies from the drop down menu):
	  	 
    
	  	Comment:	 
    
	  	  	  
	2.	Deferred
    Maintenance (Choose the one that applies from the drop down menu):
	  	 
    
	  	Comment:	 
    
	  	  	  
	3.	Routine
    Maintenance (Choose the one that applies from the drop down menu):
	  	 
    
	  	Comment:	 
    
	  	  	  
	4.	Capital
    Needs (Choose the one that applies from the drop down menu):
	  	 
    
	  	Comment:	 
    
	  	  	  
	5.	Level/Volume
    of issues noted and appropriate follow-up recommendations (Choose the one that applies from the drop down menu):
	  	 
    
	  	Comment:	 
    

	  	  	  	  	  	  
	Overall
    Rating and Additional Comments
	  
	Overall
    Rating Scale:	 

         
	  
	  	  	1
    = No substantial concerns observed. No further action required.
	 	 	 
	  	  	2 = Some
    minor issues noted. Limited follow-up required.
	 	 	 
	  	  	3 = Substantial
    and/or critical issues noted. Documented follow-up required.
	 	 	 
	  	  	4 = Overall
    condition showing signs of deterioration. Documented follow-up with possible action plan required.
	 	 	 
	  	  	5 = Severe
    deferred maintenance observed. Follow-up and substantial action plan required.
	  	  	  	  	  
	  	Comment: 	 

         

	  	  	  	  	  
	Inspector
    Information
	  	  	  	  	  
	Seller/Servicer
    Certification	Date:	 
    	 
    
	  	  	  	  	  
	First
    Name:	 
    	 
    	 
    	 
    
	Last
    name:	 
    	 
    	 
    	 
    
	Title:	 
    	 
    	 
    	 
    
	Phone
    Number:	 
    	 
    	 
    	 

  

	Copywrite
    2008 Mortgage Bankers Association, Washington, DC	    

 

    B-15

     

    

 

Comprehensive
Assessment Addendum     

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Inspection
    Date	 
    	 
    	Time	 
    	 
    	 
    	Property
    City	 
    
	Loan
    Number	 
    	 
    	 
    	Property State/Country
	 
    	   /	 
    
	Property
    Name	 
    	 
    	 
    	Overall Property
        Rating
	 
    

 

	Email
    Address:	 
    	 
    	 
    	  

  

	Copywrite
    2008 Mortgage Bankers Association, Washington, DC	

 

    B-16

     

    

 

EXHIBIT
“C”

 

(Quarterly
Reports)

 

(see
attached)

 

    C-1

     

    

 

	 	 	 	 	 	 	 	 	 
	Transaction/Securitization
    Name  	 	 	 	 	 	 	 
	Subservicer:	  	 
    	 
    	 
    	  	  	  	  
	Quarter
    Ending:	  	 
    	 
    	 
    	  	INSURANCE
    MONITORING REPORT

  

	 Servicer 
Loan
    #	MLS
 Loan
    # 	 Borrower 
Name	 Property 
Name	 Property 
Address	 Effective 
Date	 Expiration 
Date	 Insurance 
Co.	Type
    of
 Coverage 	Policy
 Number 	 Coverage 
Amount	 Deductible 	 Escrowed 
(Y/N)	 Loss Payee Endorsement 

        Reflects Trust
        (Y/N)
	Meets
Qualified
    Ins
 Ratings (Y/N) 	Frequency
    of
 Disbursement 
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    

 

Note:  Please
include one line per Insurance coverage.

  

The
undersigned hereby certifies that it holds in its custody a certificate or other appropriate proof of valid insurance on the individual
properties which are securing mortgage loans held by the above referenced “transaction/securitization” which
are subserviced by the undersigned on behalf of Midland Loan Services, Inc. The hazard coverage provided by such policies
complies with the requirements of the individual loan documents. The properties are correctly identified in the policies,
and all improvements thereon to be insured are included and properly described; that the name or names of the insured exactly
conform to the names or names in which title is held; that a standard, non contributory clause in favor of _______________________ is
or endorsed on the policies. The amount of coverage is not less than the amount required under the individual loan documents.

 

	Certified
    By:	 	 
	Date
    Printed:	 	 
	Title:	 	 

 

    C-2

     

    

 

	 	 	 	 	 	 	 	 	 
	Transaction/Securitization
    Name  	 	 	 	 	 	 	 
	Subservicer:	  	 
    	 
    	 
    	  	  	  	  
	Quarter
    Ending:	  	 
    	 
    	 
    	  	TAX
    MONITORING REPORT

  

	
 Servicer Loan

 #	MLS
 Loan # 	 Borrower 
Name	 Property
    Name 	 Property 
Address	 Property
    City 	 Property 
State	 Property
    Zip 
Code	 Parcel
    No. 	 Tax Authority 
Name	 Tax
    Type 	Next
    Tax
 Due Date 	 Escrowed 
(Y/N)
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    

 

Note:  Please
include one line per tax parcel.

  

The
undersigned hereby certifies that it has inspected actual tax receipts or has otherwise verified full payment of all real estate
taxes for the year __________________________ and prior years on properties covered by all mortgage loans subserviced by
it on behalf of Midland Loan Services, Inc., and held by __________________________ excepting only the loans hereinafter
listed; the undersigned further certifies that no unredeemed sales certificates or other tax liens are outstanding against any
of the aforesaid properties other than as stated below.

  

	Loan
    Number	Mortgagor	Explanation

  

	Certified
    By:	 	 
	Date
    Printed:	 	 
	Title:	 	 

 

    C-3

     

    

 

	 	 	 	 	 	 	 	 	 
	Transaction/Securitization
    Name  	 	 	 	 	 	 	 
	Subservicer:	  	 
    	 
    	 
    	  	  	  	  
	Quarter
    Ending:	  	 
    	 
    	 
    	  	UCC
    MONITORING REPORT

 

	Servicer
    Loan 

#	MLS
Loan #	Borrower
Name	State
    of Incorporation 

or State of Residence	Property
Name	Filing
    Type	Filing
Location	Original Filing 
Number	Original
Filing
    Date	Expiration
Date	
Trust
    is Named
Beneficiary (Y/N)
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    
	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    

 

	Note:  Please
    include one line per UCC filing.

 

The
undersigned hereby certifies that it has inspected actual UCC-1 filings or has otherwise verified filing of all UCC-1 documents
and further certifies that there has been no lapse in lien position on the collateral secured by said UCC-1 filings for all loans
subserviced on behalf of Midland Loan Services, Inc., and held by ______________________________ .

  

	Certified
    By:	 	 
	Date
    Printed:	 	 
	Title:	 	 

  

	Please
    forward to Midland Loan Services copies of all filings and attachments.	  

	If
    copies cannot be supplied, Midland will need the following information:

 

	  	  	Exact
    Name and Address of current beneficiary (if not assigned to the Trust)
	  	  	Complete
    Address of the Borrower
	  	  	Copies
    of collateral description and legal description

 

    C-4

     

    

 

EXHIBIT
“D”

 

(Remittance
Reports)

 

(see
attached)

 

    D-1

     

    

  

	TRANSACTION
    NAME:	 
    	 
    	  	  	  	  	  
	SUBSERVICER:	 
    	 
    	  	  	  	  	  
	FOR
    DISTRIBUTION DATE:	  	  	  	  	  	  	  

 

	MASTER

        SERVICER #
	 SUBSERVICER 

        LOAN #
	BORROWER
NAME	BEGINNING

        BALANCE
	PAYMENT
AMOUNT	PRINCIPAL
    AMOUNT	INTEREST
AMOUNT	SERVICE

        FEE
	NET
INTEREST	NET

        REMITTANCE
	ENDING

        BALANCE
	PAYMENT
DATE
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	 
    	 
    	  	 
    	  	 
    	  	 
    	  	 
    	  	 
    
	TOTALS	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    	 
    

 

    D-2

     

    

 

EXHIBIT “E”

 

(Form of Mortgagee Clause for Insurance Policies)

 

The mortgagee clause for insurance policies should
be as follows:

 

Midland Loan Services, a Division of PNC Bank, National
Association, as Master Servicer, on behalf of Wells Fargo Bank, National Association, as Trustee, for the benefit of the Holders
of UBS Commercial Mortgage Trust 2018-C12, Commercial
Mortgage Pass-Through Certificates, Series 2018-C12

 

    E-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00288-of-00352.parquet"}]]