Common use of P&I Advances Clause in Contracts

P&I Advances. (a) On or before 1:00 p.m., New York City time, on each Master Servicer Remittance Date, the Master Servicer shall either (i) deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). If, as of 1:00 p.m., New York City time, on any Master Servicer Remittance Date, the Master Servicer shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master Servicer. (b) The aggregate amount of P&I Advances to be made in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made.

P&I Advances. (a) On or before 1:00 p.m., p.m. (New York City time, ) on each Master Servicer Remittance P&I Advance Date, the applicable Master Servicer shall shall, subject to Section 4.03(c), either (i) remit from its own funds to the Certificate Administrator for deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I AdvancesAdvances with respect to Mortgage Loans and successor REO Mortgage Loans serviced by such Master Servicer, if any, to be made by the applicable Master Servicer in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Collection Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make such P&I Advances, or (iii) make such P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be mademade by the applicable Master Servicer; provided provided, however, that if Late Collections of any of to the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then extent that amounts on deposit in the Certificate AccountCollection Account were insufficient to pay the CREFC® License Fee on the related Master Servicer Remittance Date, the related Master Servicer shall use such Late Collections (net of apply any Master Servicing Fees and Workout Fees payable therefrom) P&I Advances required to make be made by it on such P&I AdvancesAdvance Date pursuant to this Section 4.03 to pay the balance of such CREFC® License Fee. Any amounts held in the Certificate Collection Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the applicable Master Servicer's ’s records and replaced by the applicable Master Servicer by deposit in the Certificate Collection Account on or before prior to the next succeeding Determination Master Servicer Remittance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or and interest in respect of which such P&I Advances were made). If, as of 1:00 p.m., 3:30 p.m. (New York City time, ) on any Master Servicer Remittance P&I Advance Date, the applicable Master Servicer shall not have made any P&I Advance required to be made by it on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Certificate Administrator and the Trustee the requisite Officer's ’s Certificate and other documentation related to a determination of nonrecoverability of a P&I AdvanceAdvance pursuant to Section 4.03(c)) or shall not have remitted any portion of the Master Servicer Remittance Amount required to be remitted by the Master Servicer on such date, then the Trustee Certificate Administrator shall provide notice of such failure to a Servicing Officer of the applicable Master Servicer by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer with respect to the Trustee in writingGeneral Master Servicer, at facsimile number: (000) 000-0000, and with respect to the NCB Master Servicer, at (000) 000-0000) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer with respect to the Trustee General Master Servicer, at (000) 000-0000, and with respect to the NCB Master Servicer, at (000) 000-0000) and, in writingthe case of the NCB Master Servicer, by email (at XXXXX0000X00@xxx.xxx) as soon as possible, but in any event before 3:00 p.m., 4:30 p.m. (New York City time, ) on such Master Servicer Remittance P&I Advance Date. If, If after such notice, notice the Trustee Certificate Administrator does not receive the full amount of such P&I Advances by the close of business 9:00 a.m. (New York City time) on such Master Servicer Remittance the related Distribution Date, then (i) unless the Certificate Administrator shall promptly notify the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, (but in any event before 10:00 a.m. (New York City time) and the Trustee shall (not later than 12:00 noon, New York City time, on the related Distribution Date) make the portion of such P&I Advances that was required to be, but was not, made or remitted, as the case may be, by the applicable Master Servicer on such with respect to the related Distribution Date. With respect to any Mortgage Loan that is part of a Serviced Loan Combination, the applicable Master Servicer Remittance Date or Trustee, as applicable, shall provide the Other Master Servicer and the Other Trustee under the Other Securitization with written notice of any P&I Advance relating to such Mortgage Loan within two (ii2) Business Days of making such failure shall constitute an Event of Default on the part of the Master ServicerP&I Advance. (b) The aggregate amount of P&I Advances to be made by each Master Servicer (or by the Trustee, if the applicable Master Servicer fails to do so) in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equalDate, subject to subsection (cSection 4.03(c) below, shall equal the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of any related Master Servicing Fees (and, in the case of a Non-Trust-Serviced Pooled Mortgage Loan or REO Mortgage Loan that is a successor thereto, the Non-Trust Primary Servicing Fee and Workout Fees Non-Trust Trust Advisor fee payable hereunderunder the related Non-Trust Pooling and Servicing Agreement), that were due or deemed duedue and net of any Post-ARD Additional Interest, as the case may be, in respect thereof of the Mortgage Loans for which it is acting as Master Servicer and any successor REO Mortgage Loans with respect thereto on their respective Due Dates during occurring in the related Collection Period and that were month in which such Distribution Date occurs, in each case to the extent such amount was not paid Received by or on behalf of the related Mortgagors or otherwise collected Trust as of the close of business on the last day of the related Collection PeriodDetermination Date; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, then the interest portion of the any P&I Advance required to be made in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for that would otherwise be required to be made in respect of such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is shall equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is shall equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the applicable Master Servicer (or, if applicable, the Trustee) that a prior P&I Advance (or Unliquidated Advance in respect thereof) that it has made constitutes a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be made by such Person in its reasonable, good faith judgment. In making such recoverability determination, such Person will be entitled to consider (among other things) the obligations of the Borrower under the terms of the related Mortgage Loan as it may have been modified, to consider (among other things) the related Mortgaged Properties in their “as-is” or then-current conditions and occupancies, as modified by such party’s assumptions regarding the possibility and effects of future adverse change with respect to such Mortgaged Properties, to estimate and consider (among other things) future expenses and to estimate and consider (among other things) the timing of recoveries. In addition, any such Person may update or change its recoverability determinations at any time and may obtain from the applicable Special Servicer any analysis, Appraisals or market value estimates or other information in the possession of the applicable Special Servicer for such purposes. Any determination by the applicable Master Servicer (or, if applicable, the Trustee) that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's ’s Certificate delivered promptly (to the Depositor, the applicable Special Servicer, the Certificate Administrator, the Subordinate Class Representative and, in any eventif made by the applicable Master Servicer, the Trustee (on or before the related P&I Advance Date in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained therebyAdvance), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) accompanied by a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been Property performed within the twelve nine (9) months preceding such determinationdetermination by a Qualified Appraiser, and further accompanied by any other information information, including engineers’ reports, environmental surveys or similar reports, that the Person making such determination may have obtained. A copy of any such Officer’s Certificate (and accompanying information) of the Trustee shall also be promptly delivered to the Certificate Administrator, the Subordinate Class Representative, the Majority Subordinate Certificateholder, the applicable Special Servicer and the applicable Master Servicer or for the Special Servicer may have obtained and that supports such determinationsubject Mortgage Loan. The Trustee shall deliver such Officer's Certificate Absent bad faith, the applicable Master Servicer’s determination as soon as practicable after its determination that such to the recoverability of any P&I Advance would shall be nonrecoverable. If such an Appraisal shall not have been required conclusive and performed pursuant to binding on the terms of this AgreementCertificateholders and, in all cases, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to conclusively rely on any nonrecoverability determination of nonrecoverability that may have been made by the applicable Master Servicer or the Special Servicer with respect to a particular P&I Advance, . The applicable Special Servicer shall promptly furnish any party required to make P&I Advances hereunder with any information in its possession regarding the Specially Serviced Mortgage Loans and the REO Properties as such party required to make P&I Advances may reasonably request. The applicable Master Servicer shall consider Unliquidated Advances in respect of prior P&I Advances as outstanding Advances for purposes of recoverability determinations as if such Unliquidated Advance were a P&I Advance. The applicable Special Servicer for each Mortgage Loan shall also be entitled to make a determination (subject to the same standards and procedures that apply in connection with a determination by the applicable Master Servicer) to the effect that a prior P&I Advance (or Unliquidated Advance in respect thereof) previously made hereunder by the applicable Master Servicer (or, if applicable, the Trustee) constitutes a Nonrecoverable P&I Advance or that any proposed P&I Advance by the applicable Master Servicer (or, if applicable, the Trustee), if made, would constitute a Nonrecoverable P&I Advance, in which case, after written notice of such determination by the applicable Special Servicer to the applicable Master Servicer and the Trustee, such P&I Advance shall constitute a Nonrecoverable P&I Advance for all purposes of this Agreement and the applicable Master Servicer and the Trustee shall conclusively rely on any such determination of nonrecoverability that may have been made by the applicable Special Servicer with respect that a P&I Advance is a Nonrecoverable Advance; provided that in no event shall a determination by a Special Servicer that a previously made or proposed P&I Advance would be recoverable be binding on a Master Servicer or the Trustee. A copy of any Officer’s Certificate (and accompanying information) of the applicable Special Servicer in support of its determination shall be promptly delivered to a particular P&I Advancethe applicable Master Servicer for the subject Mortgage Loan. The applicable Special Servicer may update or change its recoverability determination at any time. (d) As and to In the extent permitted by Section 3.05(a)case of each Mortgage Loan, the applicable Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of with its own funds) for so long as ), to the extent that such P&I Advance is outstanding (or, in the case of Advance Interest payable i) relates to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest a Monthly Payment or Assumed Monthly Payment in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related a Mortgage Loan during, and allocable to, the period, if any, that it was is a Specially Serviced Mortgage Past Grace Period Loan or an REO Loan; and secondMortgage Loan when made, at any time coinciding with or following in which case such interest shall begin to accrue from the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any related P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate AccountDate, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made.or

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance the related P&I Advance Date. IfNotwithstanding the foregoing, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such any P&I Advances that was required Advance equal to bethe CREFC® Intellectual Property Royalty License Fee for the related Mortgage Loans shall not be remitted to the Certificate Administrator for deposit into the Lower Tier REMIC Distribution Account, but was not, made by shall be deposited into the Master Servicer Certificate Account for payment to CREFC® on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDistribution Date. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (other than Balloon Paymentsincluding any Non-Serviced Mortgage Loan) and any Assumed Monthly Paymentsor REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Non-Serviced Master Servicer and Non-Serviced Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within one (1) Business Day of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. (d) As and Serviced Companion Noteholder, except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan (or, in the case of a Non-Serviced Whole Loan, an Appraisal Reduction has been made in accordance with the related Non-Serviced Pooling Agreement and the Master Servicer has notice of such Appraisal Reduction) then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 p.m., p.m. (New York City time, ) on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall shall, subject to Section 4.03(c), either (i) remit from its own funds to the Certificate Administrator for deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made by the Master Servicer in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Collection Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make such P&I Advances, or (iii) make such P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, made by the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I AdvancesServicer. Any amounts held in the Certificate Collection Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Collection Account on or before prior to the next succeeding Determination Master Servicer Remittance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or and interest in respect of which such P&I Advances were made). If, as of 1:00 p.m., 3:30 p.m. (New York City time, ) on any Master Servicer Remittance P&I Advance Date, the Master Servicer shall not have made any P&I Advance required to be made by it on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Certificate Administrator and the Trustee the requisite Officer's ’s Certificate and other documentation related to a determination of nonrecoverability of a P&I AdvanceAdvance pursuant to Section 4.03(c)) or shall not have remitted any portion of the Master Servicer Remittance Amount required to be remitted by the Master Servicer on such date, then the Trustee Certificate Administrator shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____at facsimile number: (000) ____000-______ (or such alternative number provided by the Master Servicer to the Trustee in writing0000) and by telephone (at telephone no. (____000) ___000-____ (or such alternative number provided by the Master Servicer to the Trustee in writing0000) as soon as possible, but in any event before 3:00 p.m., 4:30 p.m. (New York City time, ) on such Master Servicer Remittance P&I Advance Date. If, If after such notice, notice the Trustee Certificate Administrator does not receive the full amount of such P&I Advances by the close of business 9:00 a.m. (New York City time) on such Master Servicer Remittance the related Distribution Date, then (i) unless the Certificate Administrator shall promptly notify the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, (but in any event before 10:00 a.m. (New York City time) and the Trustee shall (not later than 12:00 noon, New York City time, on the related Distribution Date) make the portion of such P&I Advances that was required to be, but was not, made or remitted, as the case may be, by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on with respect to the part of the Master Servicerrelated Distribution Date. (b) The aggregate amount of P&I Advances to be made by the Master Servicer (or by the Trustee, if the Master Servicer fails to do so) in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equalDate, subject to subsection (cSection 4.03(c) below, shall equal the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of any related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof of the Mortgage Loans and any successor REO Mortgage Loans with respect thereto on their respective Due Dates during occurring in the related Collection Period and that were month in which such Distribution Date occurs, in each case to the extent such amount was not paid Received by or on behalf of the related Mortgagors or otherwise collected Trust as of the close of business on the last day of the related Collection PeriodDetermination Date; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, then the interest portion of the any P&I Advance required to be made in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for that would otherwise be required to be made in respect of such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is shall equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is shall equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer (or, if applicable, the Trustee) that a prior P&I Advance (or Unliquidated Advance in respect thereof) that it has made constitutes a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be made by such Person in its reasonable, good faith judgment. In making such recoverability determination, such Person will be entitled to consider (among other things) the obligations of the Borrower under the terms of the related Mortgage Loan as it may have been modified, to consider (among other things) the related Mortgaged Properties in their “as is” or then current conditions and occupancies, as modified by such party’s assumptions regarding the possibility and effects of future adverse change with respect to such Mortgaged Properties, to estimate and consider (among other things) future expenses and to estimate and consider (among other things) the timing of recoveries. In addition, any such Person may update or change its recoverability determinations at any time and may obtain from the Special Servicer any analysis, Appraisals or market value estimates or other information in the possession of the Special Servicer for such purposes. Any determination by the Master Servicer (or, if applicable, the Trustee) that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's ’s Certificate delivered promptly (to the Depositor, the Special Servicer, the Certificate Administrator, the Subordinate Class Representative and, in any eventif made by the Master Servicer, the Trustee (on or before the related P&I Advance Date in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained therebyAdvance), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) accompanied by a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been Property performed within the twelve nine (9) months preceding such determinationdetermination by a Qualified Appraiser, and further accompanied by any other information information, including engineers’ reports, environmental surveys or similar reports, that the Person making such determination may have obtained. A copy of any such Officer’s Certificate (and accompanying information) of the Trustee shall also be promptly delivered to the Certificate Administrator, the Subordinate Class Representative, the Majority Subordinate Certificateholder, the Special Servicer and the Master Servicer or for the Special Servicer may have obtained and that supports such determinationsubject Mortgage Loan. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this AgreementAbsent bad faith, the Master Servicer or Servicer’s determination as to the Special Servicerrecoverability of any P&I Advance shall be conclusive and binding on the Certificateholders and, as in all cases, the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to conclusively rely on any nonrecoverability determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, . The Special Servicer shall promptly furnish any party required to make P&I Advances hereunder with any information in its possession regarding the Specially Serviced Mortgage Loans and REO Properties as such party required to make P&I Advances may reasonably request. The Master Servicer shall consider Unliquidated Advances in respect of prior P&I Advances as outstanding Advances for purposes of recoverability determinations as if such Unliquidated Advance were a P&I Advance. The Special Servicer for each Mortgage Loan shall also be entitled to make a determination (subject to the same standards and procedures that apply in connection with a determination by the Master Servicer) to the effect that a prior P&I Advance (or Unliquidated Advance in respect thereof) previously made hereunder by the Master Servicer (or, if applicable, the Trustee) constitutes a Nonrecoverable P&I Advance or that any proposed P&I Advance by the Master Servicer (or, if applicable, the Trustee), if made, would constitute a Nonrecoverable P&I Advance, in which case such P&I Advance shall be entitled to rely on constitute a Nonrecoverable P&I Advance for all purposes of this Agreement. A copy of any determination Officer’s Certificate (and accompanying information) of nonrecoverability that may have been made by the Special Servicer with respect in support of its determination shall be promptly delivered to a particular P&I Advancethe Master Servicer for the subject Mortgage Loan. The Special Servicer may update or change its recoverability determination at any time. (d) As and to In the extent permitted by Section 3.05(a)case of each Mortgage Loan, the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of with its own funds), to the extent that such P&I Advance (i) relates to a Monthly Payment or Assumed Monthly Payment in respect of a Mortgage Loan that is a Past Grace Period Loan or an REO Mortgage Loan when made, in which case such interest shall begin to accrue from the related P&I Advance Date, or (ii) is made with respect to a Within Grace Period Loan and remains outstanding when the subject Mortgage Loan becomes a Past Grace Period Loan in respect of the subject Monthly Payment or Assumed Monthly Payment, in which case such interest shall begin to accrue when the subject Mortgage Loan becomes a Past Grace Period Loan in respect of the subject Monthly Payment or Assumed Monthly Payment, in either case, for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received Received by the Master Servicer or Trust). Such interest with respect to any of its Sub-Servicers)P&I Advance shall be payable: (i) first, in accordance with Sections 3.05 and such interest will be paid: first3.25, out of any Default Charges subsequently collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced particular Mortgage Loan or an REO LoanMortgage Loan as to which such P&I Advance relates; and second(ii) then, at any time coinciding with or following the reimbursement of after such P&I AdvanceAdvance is reimbursed, but only if and to the extent that such Default Charges are insufficient to cover such Advance Interest, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Collection Account. As and to the extent provided by Section 3.05(a), the The Master Servicer shall (subject to the operation of Section 3.05(a)(II)) reimburse itself or the Trustee, as appropriateapplicable, for any outstanding P&I Advance made thereby with respect to any Mortgage Loan or REO Mortgage Loan as soon as practicable after funds available for such purpose are deposited in the Certificate Collection Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been was received by or on behalf of the Trust as of the related date on which P&I Advance Date. (e) With regard to such P&I Advance was madeAdvances, the Master Servicer or the Trustee shall account for that part of the P&I Advances which is attributable to Past Grace Period Loans, and that part of the P&I Advances which is attributable to Within Grace Period Loans.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made by the Master Servicer with respect to any Distribution Date and each Mortgage Loan (and, with respect to each Componentized Mortgage Loan, only on the related Pooled Component) shall be equal to: (i) the Monthly Payments (net of related Servicing Fees, and in the case of each Non-Serviced Mortgage Loan, the applicable servicing fees payable under this Agreement, and in the case of any Componentized Mortgage Loan, only in respect of the Mortgage Loans (includingrelated Pooled Component) other than Balloon Payments, without limitation, Balloon Mortgage Loans that were due during the related Due Period and delinquent as to their respective Balloon Paymentsof the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loans for Loan (other than any Distribution Date shall equalportion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), subject an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (other than Balloon Payments) and any Assumed Monthly Paymentsincluding the Non-Serviced Mortgage Loan and, in each the case net of any Componentized Mortgage Loan, only in respect of the related Master Servicing Fees and Workout Fees payable hereunderPooled Component) or REO Loan, that were due shall continue until the Distribution Date on which the proceeds, if any, received in connection with a Liquidation Event or deemed duethe disposition of the REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Other Master Servicer and Other Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within one (1) Business Day of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. (d) As and Serviced Companion Noteholder, except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan or Non-Pooled Component and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan (or, in the case of the Non-Serviced Whole Loan, an Appraisal Reduction has been made in accordance with the Non-Serviced Pooling Agreement) or, in the case of any Componentized Mortgage Loan, allocated to the related Pooled Component, then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan (or Pooled Component) for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan (or Pooled Component) for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan (or Pooled Component) immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan, or in the case of any Componentized Mortgage Loan, with respect to the related Pooled Component), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan (or Pooled Component) immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan or Non-Pooled Component.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account (or the Centreville Square REMIC Distribution Account, with respect to any amounts allocable to the Componentized Mortgage Loan) from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance the related P&I Advance Date. IfNotwithstanding the foregoing, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such any P&I Advances that was required Advance equal to bethe CREFC® Intellectual Property Royalty License Fee for the related Mortgage Loans shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account, but was not, made by shall be deposited into the Master Servicer Certificate Account for payment to CREFC® on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDistribution Date. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (other than Balloon Paymentsincluding any Non-Serviced Mortgage Loan) and any Assumed Monthly Paymentsor REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Non-Serviced Master Servicer and Non-Serviced Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within two (2) Business Days of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. (d) As and Serviced Companion Noteholder, except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan (or, in the case of a Non-Serviced Whole Loan, an Appraisal Reduction has been made in accordance with the related Non-Serviced Pooling Agreement and the Master Servicer has notice of such Appraisal Reduction) then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 p.m., p.m. (New York City time, ) on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall shall, subject to Section 4.03(c), either (i) remit from its own funds to the Certificate Administrator for deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made by the Master Servicer in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Collection Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make such P&I Advances, or (iii) make such P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, made by the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I AdvancesServicer. Any amounts held in the Certificate Collection Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Collection Account on or before prior to the next succeeding Determination Master Servicer Remittance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or and interest in respect of which such P&I Advances were made). If, as of 1:00 p.m., 3:30 p.m. (New York City time, ) on any Master Servicer Remittance P&I Advance Date, the Master Servicer shall not have made any P&I Advance required to be made by it on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Certificate Administrator and the Trustee the requisite Officer's ’s Certificate and other documentation related to a determination of nonrecoverability of a P&I AdvanceAdvance pursuant to Section 4.03(c)) or shall not have remitted any portion of the Master Servicer Remittance Amount required to be remitted by the Master Servicer on such date, then the Trustee Certificate Administrator shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____at facsimile number: (000) ____000-______ (or such alternative number provided by the Master Servicer to the Trustee in writing0000) and by telephone (at telephone no. (____000) ___000-____ (or such alternative number provided by the Master Servicer to the Trustee in writing0000) as soon as possible, but in any event before 3:00 p.m., 4:30 p.m. (New York City time, ) on such Master Servicer Remittance P&I Advance Date. If, If after such notice, notice the Trustee Certificate Administrator does not receive the full amount of such P&I Advances by the close of business 9:00 a.m. (New York City time) on such Master Servicer Remittance the related Distribution Date, then (i) unless the Certificate Administrator shall promptly notify the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, (but in any event before 10:00 a.m. (New York City time) and the Trustee shall (not later than 12:00 noon, New York City time, on the related Distribution Date) make the portion of such P&I Advances that was required to be, but was not, made or remitted, as the case may be, by the Master Servicer on such with respect to the related Distribution Date. With respect to any Mortgage Loan that is part of a Loan Combination, the Master Servicer Remittance Date or Trustee, as applicable, shall provide the master servicer and the trustee under the Other Securitization with written notice of any P&I Advance relating to such Mortgage Loan within two (ii2) Business Days of making such failure shall constitute an Event of Default on the part of the Master ServicerP&I Advance. (b) The aggregate amount of P&I Advances to be made by the Master Servicer (or by the Trustee, if the Master Servicer fails to do so) in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equalDate, subject to subsection (cSection 4.03(c) below, shall equal the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of any related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duedue and any Post-ARD Additional Interest, as the case may be, in respect thereof of the Mortgage Loans and any successor REO Mortgage Loans with respect thereto on their respective Due Dates during occurring in the related Collection Period and that were month in which such Distribution Date occurs, in each case to the extent such amount was not paid Received by or on behalf of the related Mortgagors or otherwise collected Trust as of the close of business on the last day of the related Collection PeriodDetermination Date; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, then the interest portion of the any P&I Advance required to be made in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for that would otherwise be required to be made in respect of such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is shall equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is shall equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer (or, if applicable, the Trustee) that a prior P&I Advance (or Unliquidated Advance in respect thereof) that it has made constitutes a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be made by such Person in its reasonable, good faith judgment. In making such recoverability determination, such Person will be entitled to consider (among other things) the obligations of the Borrower under the terms of the related Mortgage Loan as it may have been modified, to consider (among other things) the related Mortgaged Properties in their “as is” or then current conditions and occupancies, as modified by such party’s assumptions regarding the possibility and effects of future adverse change with respect to such Mortgaged Properties, to estimate and consider (among other things) future expenses and to estimate and consider (among other things) the timing of recoveries. In addition, any such Person may update or change its recoverability determinations at any time and may obtain from the Special Servicer any analysis, Appraisals or market value estimates or other information in the possession of the Special Servicer for such purposes. Any determination by the Master Servicer (or, if applicable, the Trustee) that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's ’s Certificate delivered promptly (to the Depositor, the Special Servicer, the Certificate Administrator, the Subordinate Class Representative and, in any eventif made by the Master Servicer, the Trustee (on or before the related P&I Advance Date in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained therebyAdvance), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) accompanied by a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been Property performed within the twelve nine (9) months preceding such determinationdetermination by a Qualified Appraiser, and further accompanied by any other information information, including engineers’ reports, environmental surveys or similar reports, that the Person making such determination may have obtained. A copy of any such Officer’s Certificate (and accompanying information) of the Trustee shall also be promptly delivered to the Certificate Administrator, the Subordinate Class Representative, the Majority Subordinate Certificateholder, the Special Servicer and the Master Servicer or for the Special Servicer may have obtained and that supports such determinationsubject Mortgage Loan. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this AgreementAbsent bad faith, the Master Servicer or Servicer’s determination as to the Special Servicerrecoverability of any P&I Advance shall be conclusive and binding on the Certificateholders and, as in all cases, the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to conclusively rely on any nonrecoverability determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, . The Special Servicer shall promptly furnish any party required to make P&I Advances hereunder with any information in its possession regarding the Specially Serviced Mortgage Loans and REO Properties as such party required to make P&I Advances may reasonably request. The Master Servicer shall consider Unliquidated Advances in respect of prior P&I Advances as outstanding Advances for purposes of recoverability determinations as if such Unliquidated Advance were a P&I Advance. The Special Servicer for each Mortgage Loan shall also be entitled to make a determination (subject to the same standards and procedures that apply in connection with a determination by the Master Servicer) to the effect that a prior P&I Advance (or Unliquidated Advance in respect thereof) previously made hereunder by the Master Servicer (or, if applicable, the Trustee) constitutes a Nonrecoverable P&I Advance or that any proposed P&I Advance by the Master Servicer (or, if applicable, the Trustee), if made, would constitute a Nonrecoverable P&I Advance, in which case such P&I Advance shall be entitled to rely on constitute a Nonrecoverable P&I Advance for all purposes of this Agreement. A copy of any determination Officer’s Certificate (and accompanying information) of nonrecoverability that may have been made by the Special Servicer with respect in support of its determination shall be promptly delivered to a particular P&I Advancethe Master Servicer for the subject Mortgage Loan. The Special Servicer may update or change its recoverability determination at any time. (d) As With respect to any Loan Combination, the Master Servicer will be permitted to make its determination that it has made a P&I Advance on the related Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance with respect to such Mortgage Loan in accordance with Section 4.03(a) independently of any determination made in respect of the related Pari Passu Companion Loan, by the master servicer under the related Other Pooling and Servicing Agreement. If the Master Servicer determines that a proposed P&I Advance with respect to such Loan Combination, if made, or any outstanding P&I Advance with respect to any such Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance or if the Master Servicer subsequently determines that a proposed Servicing Advance would be a Nonrecoverable Advance or an outstanding Servicing Advance is or would be a Nonrecoverable Advance, the Master Servicer shall promptly provide the master servicer under each related Other Pooling and Servicing Agreement written notice of such determination. If the Master Servicer receives written notice from any master servicer under any such Other Pooling and Servicing Agreement that such master servicer has determined, with respect to the extent permitted by Section 3.05(a)related Pari Passu Companion Loan, that any proposed advance of principal and/or interest with respect to such Pari Passu Companion Loan would be, or any outstanding advance of principal and interest is, a nonrecoverable advance of principal and/or interest, such determination shall not be binding on the Certificateholders, the Master Servicer or the Trustee but each of the Master Servicer and the Trustee shall be entitled to conclusively rely on any such nonrecoverability determination. (e) In the case of each Mortgage Loan, the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of with its own funds), to the extent that such P&I Advance (i) relates to a Monthly Payment or Assumed Monthly Payment in respect of a Mortgage Loan that is a Past Grace Period Loan or an REO Mortgage Loan when made, in which case such interest shall begin to accrue from the related P&I Advance Date, or (ii) is made with respect to a Within Grace Period Loan and remains outstanding when the subject Mortgage Loan becomes a Past Grace Period Loan in respect of the subject Monthly Payment or Assumed Monthly Payment, in which case such interest shall begin to accrue when the subject Mortgage Loan becomes a Past Grace Period Loan in respect of the subject Monthly Payment or Assumed Monthly Payment, in either case, for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received Received by the Master Servicer or Trust). Such interest with respect to any of its Sub-Servicers)P&I Advance shall be payable: (i) first, in accordance with Sections 3.05 and such interest will be paid: first3.25, out of any Default Charges subsequently collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced particular Mortgage Loan or an REO LoanMortgage Loan as to which such P&I Advance relates; and second(ii) then, at any time coinciding with or following the reimbursement of after such P&I AdvanceAdvance is reimbursed, but only if and to the extent that such Default Charges are insufficient to cover such Advance Interest, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Collection Account. As and to the extent provided by Section 3.05(a), the The Master Servicer shall (subject to the operation of Section 3.05(a)(II)) reimburse itself or the Trustee, as appropriateapplicable, for any outstanding P&I Advance made thereby with respect to any Mortgage Loan or REO Mortgage Loan as soon as practicable after funds available for such purpose are deposited in the Certificate Collection Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been was received by or on behalf of the Trust as of the related date on which P&I Advance Date. (f) With regard to such P&I Advance was madeAdvances, the Master Servicer or the Trustee shall account for that part of the P&I Advances which is attributable to Past Grace Period Loans, and that part of the P&I Advances which is attributable to Within Grace Period Loans. (g) Notwithstanding anything to the contrary, no P&I Advances shall be made with respect to any Companion Loan (whether or not it constitutes a Companion Loan or otherwise) or any successor REO Mortgage Loan. (h) Neither the Master Servicer nor the Trustee shall advance any amount due to be paid by the Swap Counterparty for distribution to the Class A-FL Certificates.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance the related P&I Advance Date. IfNotwithstanding the foregoing, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such any P&I Advances that was required Advance equal to bethe CREFC® Intellectual Property Royalty License Fee for the related Mortgage Loans shall not be remitted to the Certificate Administrator for deposit into the Lower Tier REMIC Distribution Account, but was not, made by shall be deposited into the Master Servicer Certificate Account for payment to CREFC® on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDistribution Date. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (other than Balloon Paymentsincluding any Non-Serviced Mortgage Loan) and any Assumed Monthly Paymentsor REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Non-Serviced Master Servicer and Non-Serviced Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within two (2) Business Days of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. (d) As and Serviced Companion Noteholder, except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan (or, in the case of a Non-Serviced Whole Loan, an Appraisal Reduction has been made in accordance with the related Non-Serviced Pooling Agreement and the Master Servicer has notice of such Appraisal Reduction) then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance the related P&I Advance Date. IfNotwithstanding the foregoing, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such any P&I Advances that was required Advance equal to bethe CREFC® Intellectual Property Royalty License Fee for the related Mortgage Loans shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account, but was not, made by shall be deposited into the Master Servicer Certificate Account for payment to CREFC® on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDistribution Date. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (other than Balloon Paymentsincluding any Non-Serviced Mortgage Loan) and any Assumed Monthly Paymentsor REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Non-Serviced Master Servicer and Non-Serviced Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within two (2) Business Days of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. (d) As and Serviced Companion Noteholder, except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan (or, in the case of a Non-Serviced Whole Loan, an Appraisal Reduction has been made in accordance with the related Non-Serviced Pooling Agreement and the Master Servicer has notice of such Appraisal Reduction) then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees, subject and in the case of each Non-Serviced Mortgage Loan, the applicable servicing fees payable under this Agreement) other than Balloon Payments, that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) the Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Other Master Servicer and Other Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within one (1) Business Day of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. (d) As and Serviced Companion Noteholder, except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan (or, in the case of the Non-Serviced Whole Loan, an Appraisal Reduction has been made in accordance with the Non-Serviced Pooling Agreement) then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Paying Agent for deposit into the Lower-Tier Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Paying Agent of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before 2 Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer Trustee shall not have made any make such P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer 7.05 by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m.noon, New York City time, on such the related Distribution Date, in each case unless the Master Servicer Remittance shall have cured such failure (and provided written notice of such cure to the Trustee and the Paying Agent) by 11:00 a.m. on such Distribution Date. If, after such noticeIn the event that the Master Servicer fails to make a required P&I Advance hereunder, the Paying Agent shall notify the Trustee does not receive the full amount of such P&I Advances circumstances by the close of business 4:30 p.m. (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Sections 4.03(c) and (e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by the Master Servicer or any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) the Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, with respect thereto are to be distributed. No P&I Advances shall be made with respect to a Companion Loan. (c) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account, interest at the Reimbursement Rate in effect from time to time, accrued on the amount of such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect thereof on their respective Due Dates during to a Mortgage Loan until after the related Collection Period Due Date has passed and that were not paid by any applicable grace period has expired or on behalf of (ii) if the related Mortgagors Monthly Payment is received after the Determination Date but on or otherwise collected as of the close of business on the last day of prior to the related Collection Period; provided thatP&I Advance Date. The Master Servicer shall reimburse itself and/or the Trustee, as the case may be, for any outstanding P&I Advance, subject to Section 3.19 of this Agreement, as soon as practicably possible after funds available for such purpose are deposited in the Certificate Account. (d) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest or Penalty Charges and (ii) if an Appraisal Reduction Amount exists has been made with respect to any Required Appraisal Loan, then, Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (ix) the amount of the interest portion of such P&I Advance for such Required Appraisal Mortgage Loan for such Distribution Date without regard to this proviso, multiplied by subsection (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction AmountReduction, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (ce) Notwithstanding anything herein to the contrary, In no P&I Advance event shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that either the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such be required to make a P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I AdvanceCompanion Loan. (df) As and to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount None of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of Paying Agent or the delinquent principal and/or interest in respect of which such P&I Advance was made has been received Trustee shall advance any amount due to be paid by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and Swap Counterparty for distribution to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeClass A-2FL Certificates.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Distribution Account from its own funds into (x) the Lower Tier REMIC Distribution Account, an amount equal to the aggregate amount of P&I Advances, if any, with respect to the Mortgage Loans to be made in respect of the related Distribution Date, and (y) the U-Haul Self Storage Pool 5 REMIC Distribution Account, an amount equal to the amount of P&I Advances, if any, with respect to the Trust Pari Passu Companion Loan to be made in respect of the related Distribution Date, (iiii)(x) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I AdvancesAdvances with respect to the Mortgage Loans, and (y) apply amounts held in the Certificate Account, for future distribution to the Holders of the Class UH5 Certificates in subsequent months in discharge of any such obligation to make P&I Advances with respect to the Trust Pari Passu Companion Loan, or (iii) make P&I Advances in the form of any combination of clauses (ii)(x) and (iiii)(x) or clauses (i)(y) and (ii)(y), as applicable, aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso with respect to the preceding sentence) Mortgage Loans or the Trust Pari Passu Companion Loan, as applicable, shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances (x) with respect to the Mortgage Loans, and (y) with respect to the Trust Pari Passu Companion Loan, for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances (x) with respect to the Mortgage Loans and (y) with respect to the Trust Pari Passu Companion Loan, for such Distribution Date, on or before two (2) Business Days prior to such Distribution Date. The Master Servicer or Trustee, as applicable, shall notify each of 1:00 the Non-Serviced Master Servicer, the Non-Serviced Special Servicer and the Non-Serviced Trustee related to the Canyon Ranch Portfolio Mortgage Loan within two (2) Business Days of making a P&I Advance with respect to the Canyon Ranch Portfolio Mortgage Loan. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance the related P&I Advance Date. IfNotwithstanding the foregoing, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such any P&I Advances that was required Advance equal to bethe CREFC® Intellectual Property Royalty License Fee for the related Mortgage Loans or the Trust Pari Passu Companion Loan, as applicable, shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account or U-Haul Self Storage Pool 5 REMIC Distribution Account, as applicable, but was not, made by shall be deposited into the Master Servicer Certificate Account for payment to CREFC® on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDistribution Date. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect to any Distribution Date and each Mortgage Loan or the Trust Pari Passu Companion Loan, as applicable, shall be equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, that were due on the Mortgage Loans (includingincluding any Non-Serviced Mortgage Loan), without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) the Trust Pari-Passu Companion Loan and any REO Loans for Loan (other than any Distribution portion of an REO Loan related to a Companion Loan) during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date shall equal(or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan or the Trust Pari Passu Companion Loan, subject as applicable, as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (including any Non-Serviced Mortgage Loan), Trust Pari Passu Companion Loan or REO Loan (other than Balloon Payments) and any Assumed Monthly Paymentsportion of an REO Loan related to a Companion Loan), shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan or Trust Subordinate Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, applicable Non-Serviced Master Servicer and Non-Serviced Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer and Non-Serviced Special Servicer written notice of such purpose at the expense determination within two (2) Business Days of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be, out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. Serviced Companion Noteholder or a Trust Companion Loan (d) As and unless related thereto), except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (orfrom the date made to but not including the date of reimbursement; provided, in the case of Advance Interest payable to the Master Servicerhowever, if earlier, until the Late Collection of the delinquent principal and/or that no interest in respect of which such will accrue on any P&I Advance was (i) made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in with respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was to a Specially Serviced Mortgage Loan or an REO the Trust Pari Passu Companion Loan; and second, at any time coinciding with or following as applicable, until after the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans related Due Date has passed and any REO Properties applicable grace period has expired or (ii) if the related Monthly Payment is received after the Determination Date but on deposit in the Certificate Account. As and or prior to the extent provided by Section 3.05(a), the related P&I Advance Date. The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan or Trust Subordinate Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan or the Trust Pari Passu Companion Loan, as applicable, (or, in the case of a Non-Serviced Whole Loan, an Appraisal Reduction has been made in accordance with the related Non-Serviced Pooling Agreement and the Master Servicer has notice of such Appraisal Reduction) then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan or the Trust Pari Passu Companion Loan, as applicable, for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan or the Trust Pari Passu Companion Loan, as applicable, for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan or the Trust Pari Passu Companion Loan, as applicable, immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan or the U-Haul Self Storage Pool 5 Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan or Trust Pari Passu Companion Loan, as applicable), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan or the Trust Pari Passu Companion Loan, as applicable, immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Paying Agent for deposit into the Lower-Tier Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Paying Agent of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before 2 Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer Trustee shall not have made any make such P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer 7.05 by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m.noon, New York City time, on such Master Servicer Remittance the related Distribution Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master Servicer. (b) The aggregate amount of P&I Advances to be made in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and unless the Master Servicer shall be entitled to rely on any determination have cured such failure (and provided written notice of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and such cure to the extent permitted by Section 3.05(a), the Master Servicer Trustee and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own fundsPaying Agent) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made.11:00 a.m.

P&I Advances. With Respect to the Mortgage Pool. (a) On or before 1:00 2:00 p.m., New York City time, on each Trust Master Servicer Remittance Date, the Master Servicer shall either (ishall, subject to Section 4.03(c) deposit into the Distribution Account from below, satisfy its own funds an amount equal obligations to make any required P&I Advances with respect to the aggregate amount of P&I Advances, if any, to be made related Distribution Date in respect of the related Distribution DateMortgage Pool, (ii) apply first, by transferring to the Trustee for deposit in the Collection Account amounts then held in the Certificate Pool Custodial Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation obligations, and second, by remitting its own funds to make P&I Advances, or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on Trustee for deposit in the Certificate Account, Collection Account in an amount equal to the Master Servicer shall use remaining portion of such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such required P&I Advances. Any amounts held in the Certificate Pool Custodial Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Pool Custodial Account on or before the next succeeding applicable Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or and interest in respect of which such P&I Advances were made). If, as of 1:00 4:00 p.m., New York City time, on any Trust Master Servicer Remittance Date, the Master Servicer shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and any required supporting documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____000) ____000-______ 0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____000) ___000-____ 0000 or (000) 000-0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 5:00 p.m., New York City time, on such Trust Master Servicer Remittance Date. If, If after such noticenotice by facsimile, the Trustee does not receive the full amount of such P&I Advances by the close of business (10:00 a.m., New York City time) , on such Master Servicer Remittance the related Distribution Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee (or any Fiscal Agent on its behalf) shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Trust Master Servicer Remittance Date and (ii) Date. If the Trustee fails to make any such failure shall constitute an Event of Default P&I Advance on the part of related Distribution Date, but a Fiscal Agent makes such P&I Advance on such date, then the Master ServicerTrustee shall be deemed not to be in default hereunder. No party hereto shall be required to make a P&I Advance with respect to any Non-Trust Mortgage Loan or any successor REO Mortgage Loan with respect thereto. (b) The aggregate amount of P&I Advances to be made by the Master Servicer, the Trustee or any Fiscal Agent, as the case may be, pursuant to this Section 4.03 in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equalshall, subject to subsection (cSection 4.03(c) below, equal the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees (and, in the case of each Outside Serviced Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, further net of any related similar fees payable hereunder, that were to third parties with respect to the subject Outside Serviced Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto pursuant to the related Outside Servicing Agreement) due or deemed due, as the case may be, in respect thereof of the Trust Mortgage Loans (including Balloon Trust Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Trust Mortgage Loans in the Mortgage Pool on their respective Due Dates during the calendar month in which the subject Distribution Date occurs, in each case to the extent such amount was not Received by the Trust (including as net income from any related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected REO Property as of the close of business on the last day end of the related Collection Period; provided that, that-- (i) if it is determined by the applicable Outside Servicer and reported to the applicable parties hereunder that an Appraisal Reduction Amount exists with respect to any Required Outside Serviced Loan Combination, and a portion of such Appraisal LoanReduction Amount is allocable to the Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, thenas applicable, in the event that is part of subsequent delinquencies thereonsuch Outside Serviced Loan Combination, then the interest portion of each P&I Advance, if any, required to be made pursuant to this Section 4.03 with respect to such Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the P&I Advance in respect of case may be, during the period that such Required Appraisal Loan for the related Distribution Date Reduction Amount continues to exist, shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (iA) the amount of the interest portion of such the subject P&I Advance for that would otherwise be required to be made under this Section 4.03 with respect to such Required Appraisal Trust Mortgage Loan for such Distribution Date or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, without regard to this proviso, multiplied by (iiB) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, reduced (to not less than zero) by the portion of any Appraisal Reduction Amount in respect of the subject Outside Serviced Loan immediately prior Combination that is allocable to such Distribution DateTrust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, net of as the related Appraisal Reduction Amount, if anycase may be, and the denominator of which is equal to the then Stated Principal Balance of such Required Appraisal Trust Mortgage Loan immediately prior to such Distribution Date.or any successor REO Trust Mortgage Loan with respect thereto, as the case may be; (cii) Notwithstanding anything herein if it is determined that an Appraisal Reduction Amount exists with respect to any Serviced Loan Combination and, further, that a portion of such Appraisal Reduction Amount is allocable to the contraryTrust Mortgage Loan or REO Trust Mortgage Loan, no as applicable, that is part of such Serviced Loan Combination, then the interest portion of each P&I Advance shall be Advance, if any, required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to this Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior 4.03 with respect to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Trust Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO PropertyTrust Mortgage Loan, as the case may be, which shall have been performed within during the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination period that such Appraisal Reduction Amount continues to exist, shall be reduced to equal the product of (A) the amount of the interest portion of the subject P&I Advance that would otherwise be nonrecoverable. If required to be made under this Section 4.03 with respect to such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer Trust Mortgage Loan or the Special ServicerREO Trust Mortgage Loan, as the case may be, maywithout regard to this proviso, multiplied by (B) a fraction, the numerator of which is equal to the then Stated Principal Balance of such Trust Mortgage Loan or REO Trust Mortgage Loan, as the case may be, reduced (to not less than zero) by the portion of such Appraisal Reduction Amount with respect to the subject Serviced Loan Combination that is allocable to its reasonable such Trust Mortgage Loan or REO Trust Mortgage Loan, as the case may be, and good faith determination the denominator of which is equal to the then Stated Principal Balance of such Trust Mortgage Loan or REO Trust Mortgage Loan, as the case may be; and (iii) if it is determined that an Appraisal Reduction Amount exists with respect to any Trust Mortgage Loan or REO Trust Mortgage Loan that is not part of a Loan Combination, then the interest portion of each P&I Advance, if any, required to be made pursuant to this Section 4.03 with respect to such Trust Mortgage Loan or REO Trust Mortgage Loan, as the case may be, during the period that such Appraisal will demonstrate Reduction Amount continues to exist, shall be reduced to equal the nonrecoverability product of (A) the amount of the related Advanceinterest portion of the subject P&I Advance that would otherwise be required to be made under this Section 4.03 in respect of such Trust Mortgage Loan or REO Trust Mortgage Loan, obtain as the case may be, without regard to this proviso, multiplied by (B) a fraction, the numerator of which is equal to the then Stated Principal Balance of such Trust Mortgage Loan or REO Trust Mortgage Loan, as the case may be, reduced (to not less than zero) by such Appraisal Reduction Amount, and the denominator of which is equal to the then Stated Principal Balance of such Trust Mortgage Loan or REO Trust Mortgage Loan, as the case may be; and provided, further, that the existence of an Appraisal for such purpose at Reduction Amount with respect to, or that is allocable to, any Trust Mortgage Loan or REO Trust Mortgage Loan shall not affect the expense principal portion of any required P&I Advance with respect thereto. For purposes of determining the Trust. The Trustee shall amount of P&I Advances to be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advanceany Distribution Date, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer if an Appraisal Reduction Amount exists with respect to a particular P&I Advance.any Serviced Loan Combination, then such Appraisal Reduction Amount shall be allocated between the Mortgage Loans or REO Mortgage Loans, as applicable, in the subject Loan Combination as follows: (di) As and with respect to the extent permitted by Section 3.05(a)000 Xxxxxxx Xxxxxx Loan Combination, any Appraisal Reduction Amount shall be allocated, first, to the Master Servicer and the Trustee shall each be entitled 000 Xxxxxxx Xxxxxx Note B Non-Trust Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) (up to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of the outstanding principal balance of, and all accrued and unpaid interest (other than Default Interest) on, the 000 Xxxxxxx Xxxxxx Note B Non-Trust Mortgage Loan (or any successor REO Mortgage Loan with respect thereto), and then, on a pro rata basis by principal balance, between the 000 Xxxxxxx Xxxxxx Trust Mortgage Loan and the 000 Xxxxxxx Xxxxxx Note A-2 Non-Trust Mortgage Loan (or between any successor REO Mortgage Loans with respect thereto); and (ii) with respect to each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (orServiced A/B Loan Combination, any Appraisal Reduction Amount shall, in each case, be allocated, first, to the case related Serviced Note B Non-Trust Mortgage Loan (or any successor REO Mortgage Loans with respect thereto) (up to the amount of Advance Interest payable the outstanding principal balance of, and all accrued and unpaid interest (other than Default Interest) on, such Serviced Note B Non-Trust Mortgage Loan (or any successor REO Mortgage Loan with respect thereto)), and then, to the related Serviced Note A Trust Mortgage Loan (or any successor REO Mortgage Loan with respect thereto). If the Master Servicer, if earlierthe Trustee or any Fiscal Agent makes a P&I Advance with respect to an Outside Serviced Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, until then it shall promptly so notify the Late Collection related Outside Master Servicer of the delinquent principal and/or interest in respect of which each such P&I Advance was so made has been received by the Master Servicer or any of its Sub-Servicers), thereby and shall seek reimbursement for such P&I Advance (together with interest will be paid: first, thereon) out of any Default Charges collected on or in amounts otherwise payable with respect of to the related Mortgage Outside Serviced Loan during, and allocable to, the period, if any, Combination that it was a Specially includes such Outside Serviced Trust Mortgage Loan or an any successor REO Loan; Trust Mortgage Loan with respect thereto, to the maximum extent permitted by, and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available amounts specified for such purpose are deposited in the Certificate Accountunder, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeCo-Lender Agreement and/or the related Outside Servicing Agreement.

P&I Advances. (a) On or before 1:00 p.m., New York City time, on each Master Servicer Remittance Date, Date the Master Servicer shall shall, subject to Section 3.04(c), either (i) deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Collection Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Collection Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Collection Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Collection Account on or before the next succeeding Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). If, as of 1:00 p.m., New York City time, on any Master Servicer Remittance Date, the Master Servicer shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee (i) the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I AdvanceAdvance or (ii) the requisite notice contemplated by Section 3.04(c)), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____000) ____000-______ 0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____000) ___000-____ 0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business 9:00 a.m. (New York City time) on such Master Servicer Remittance the related Distribution Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master Servicer. (b) The aggregate amount of P&I Advances to be made in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that (i) were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that (ii) were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Collection Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 two Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor Sponsor and the Rating Agencies, setting forth the basis for such determination, together with ( (if such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Collection Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Collection Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made.

P&I Advances. (a) On or before 1:00 p.m., p.m. (New York City time, ) on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall shall, subject to Section 4.03(c), either (i) remit from its own funds to the Certificate Administrator for deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made by the Master Servicer in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Collection Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make such P&I Advances, or (iii) make such P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, made by the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I AdvancesServicer. Any amounts held in the Certificate Collection Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Collection Account on or before prior to the next succeeding Determination Master Servicer Remittance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or and interest in respect of which such P&I Advances were made). If, as of 1:00 p.m., 3:30 p.m. (New York City time, ) on any Master Servicer Remittance P&I Advance Date, the Master Servicer shall not have made any P&I Advance required to be made by it on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Certificate Administrator and the Trustee the requisite Officer's ’s Certificate and other documentation related to a determination of nonrecoverability of a P&I AdvanceAdvance pursuant to Section 4.03(c)) or shall not have remitted any portion of the Master Servicer Remittance Amount required to be remitted by the Master Servicer on such date, then the Trustee Certificate Administrator shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____at facsimile number: (000) ____000-______ (or such alternative number provided by the Master Servicer to the Trustee in writing0000) and by telephone (at telephone no. (____000) ___000-____ (or such alternative number provided by the Master Servicer to the Trustee in writing0000) as soon as possible, but in any event before 3:00 p.m., 4:30 p.m. (New York City time, ) on such Master Servicer Remittance P&I Advance Date. If, If after such notice, notice the Trustee Certificate Administrator does not receive the full amount of such P&I Advances by the close of business 9:00 a.m. (New York City time) on such Master Servicer Remittance the related Distribution Date, then (i) unless the Certificate Administrator shall promptly notify the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, (but in any event before 10:00 a.m. (New York City time) and the Trustee shall (not later than 12:00 noon, New York City time, on the related Distribution Date) make the portion of such P&I Advances that was required to be, but was not, made or remitted, as the case may be, by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on with respect to the part of the Master Servicerrelated Distribution Date. (b) The aggregate amount of P&I Advances to be made by the Master Servicer (or by the Trustee, if the Master Servicer fails to do so) in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equalDate, subject to subsection (cSection 4.03(c) below, shall equal the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of any related Master Servicing Fees and Workout Fees payable hereunderFees, that were due or deemed duedue and net of any Post-ARD Additional Interest, as the case may be, in respect thereof of the Mortgage Loans and any successor REO Mortgage Loans with respect thereto on their respective Due Dates during occurring in the related Collection Period and that were month in which such Distribution Date occurs, in each case to the extent such amount was not paid Received by or on behalf of the related Mortgagors or otherwise collected Trust as of the close of business on the last day of the related Collection PeriodDetermination Date; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, then the interest portion of the any P&I Advance required to be made in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for that would otherwise be required to be made in respect of such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is shall equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is shall equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer (or, if applicable, the Trustee) that a prior P&I Advance (or Unliquidated Advance in respect thereof) that it has made constitutes a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be made by such Person in its reasonable, good faith judgment. In making such recoverability determination, such Person will be entitled to consider (among other things) the obligations of the Borrower under the terms of the related Mortgage Loan as it may have been modified, to consider (among other things) the related Mortgaged Properties in their “as is” or then current conditions and occupancies, as modified by such party’s assumptions regarding the possibility and effects of future adverse change with respect to such Mortgaged Properties, to estimate and consider (among other things) future expenses and to estimate and consider (among other things) the timing of recoveries. In addition, any such Person may update or change its recoverability determinations at any time and may obtain from the Special Servicer any analysis, Appraisals or market value estimates or other information in the possession of the Special Servicer for such purposes. Any determination by the Master Servicer (or, if applicable, the Trustee) that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's ’s Certificate delivered promptly (to the Depositor, the Special Servicer, the Certificate Administrator, the Subordinate Class Representative and, in any eventif made by the Master Servicer, the Trustee (on or before the related P&I Advance Date in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained therebyAdvance), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) accompanied by a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been Property performed within the twelve nine (9) months preceding such determinationdetermination by a Qualified Appraiser, and further accompanied by any other information information, including engineers’ reports, environmental surveys or similar reports, that the Person making such determination may have obtained. A copy of any such Officer’s Certificate (and accompanying information) of the Trustee shall also be promptly delivered to the Certificate Administrator, the Subordinate Class Representative, the Majority Subordinate Certificateholder, the Special Servicer and the Master Servicer or for the Special Servicer may have obtained and that supports such determinationsubject Mortgage Loan. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this AgreementAbsent bad faith, the Master Servicer or Servicer’s determination as to the Special Servicerrecoverability of any P&I Advance shall be conclusive and binding on the Certificateholders and, as in all cases, the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to conclusively rely on any nonrecoverability determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, . The Special Servicer shall promptly furnish any party required to make P&I Advances hereunder with any information in its possession regarding the Specially Serviced Mortgage Loans and REO Properties as such party required to make P&I Advances may reasonably request. The Master Servicer shall consider Unliquidated Advances in respect of prior P&I Advances as outstanding Advances for purposes of recoverability determinations as if such Unliquidated Advance were a P&I Advance. The Special Servicer for each Mortgage Loan shall also be entitled to make a determination (subject to the same standards and procedures that apply in connection with a determination by the Master Servicer) to the effect that a prior P&I Advance (or Unliquidated Advance in respect thereof) previously made hereunder by the Master Servicer (or, if applicable, the Trustee) constitutes a Nonrecoverable P&I Advance or that any proposed P&I Advance by the Master Servicer (or, if applicable, the Trustee), if made, would constitute a Nonrecoverable P&I Advance, in which case such P&I Advance shall be entitled to rely on constitute a Nonrecoverable P&I Advance for all purposes of this Agreement. A copy of any determination Officer’s Certificate (and accompanying information) of nonrecoverability that may have been made by the Special Servicer with respect in support of its determination shall be promptly delivered to a particular P&I Advancethe Master Servicer for the subject Mortgage Loan. The Special Servicer may update or change its recoverability determination at any time. (d) As and to In the extent permitted by Section 3.05(a)case of each Mortgage Loan, the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of with its own funds), to the extent that such P&I Advance (i) relates to a Monthly Payment or Assumed Monthly Payment in respect of a Mortgage Loan that is a Past Grace Period Loan or an REO Mortgage Loan when made, in which case such interest shall begin to accrue from the related P&I Advance Date, or (ii) is made with respect to a Within Grace Period Loan and remains outstanding when the subject Mortgage Loan becomes a Past Grace Period Loan in respect of the subject Monthly Payment or Assumed Monthly Payment, in which case such interest shall begin to accrue when the subject Mortgage Loan becomes a Past Grace Period Loan in respect of the subject Monthly Payment or Assumed Monthly Payment, in either case, for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received Received by the Master Servicer or Trust). Such interest with respect to any of its Sub-Servicers)P&I Advance shall be payable: (i) first, in accordance with Sections 3.05 and such interest will be paid: first3.25, out of any Default Charges subsequently collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced particular Mortgage Loan or an REO LoanMortgage Loan as to which such P&I Advance relates; and second(ii) then, at any time coinciding with or following the reimbursement of after such P&I AdvanceAdvance is reimbursed, but only if and to the extent that such Default Charges are insufficient to cover such Advance Interest, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Collection Account. As and to the extent provided by Section 3.05(a), the The Master Servicer shall (subject to the operation of Section 3.05(a)(II)) reimburse itself or the Trustee, as appropriateapplicable, for any outstanding P&I Advance made thereby with respect to any Mortgage Loan or REO Mortgage Loan as soon as practicable after funds available for such purpose are deposited in the Certificate Collection Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been was received by or on behalf of the Trust as of the related date on which P&I Advance Date. (e) [Reserved] (f) With regard to such P&I Advance was madeAdvances, the Master Servicer or the Trustee shall account for that part of the P&I Advances which is attributable to Past Grace Period Loans, and that part of the P&I Advances which is attributable to Within Grace Period Loans.

P&I Advances. (a) On or before 1:00 2:00 p.m., New York City time, on each Master Servicer Remittance Date, the Master Servicer shall either (ishall, subject to Section 4.03(c) deposit into the Distribution Account from below, satisfy its own funds an amount equal obligations to make any required P&I Advances with respect to the aggregate amount of P&I Advances, if any, to be made related Distribution Date in respect of the related Mortgage Pool (other than the Trust Mortgage Loans or any successor REO Mortgage Loans with respect thereto), first, by transferring to the Trustee for deposit in the Distribution Date, (ii) apply Account amounts then held in the Certificate Pool Custodial Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation obligations, and second, by remitting its own funds to make P&I Advances, or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on Trustee for deposit in a Distribution Account in an amount equal to the Certificate Account, the Master Servicer shall use remaining portion of such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such required P&I Advances. Any amounts held in the Certificate Pool Custodial Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Pool Custodial Account on or before the next succeeding Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or and interest in respect of which such P&I Advances were made). If, as of 1:00 4:00 p.m., New York City time, on any Master Servicer Remittance Date, the Master Servicer shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____704) ____593-______ 7740 (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____704) ___593-____ 7682 or (704) 593-7867 (or such alternative number provided by the Master Servicer bx xxx Xxxxxx Xervicer to the Trustee in writing) as soon as possible, but in any event before 3:00 5:00 p.m., New York City time, on such Master Servicer Remittance Date. If, If after such noticenotice by facsimile, the Trustee does not receive the full amount of such P&I Advances by the close of business (11:00 a.m., New York City time) , on such Master Servicer Remittance the related Distribution Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, (or the Trustee Fiscal Agent on its behalf) shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) Date. If the Trustee fails to make any such failure shall constitute an Event of Default P&I Advance on the part of related Distribution Date, but the Master ServicerFiscal Agent makes such P&I Advance on such date, then the Trustee shall be deemed not to be in default hereunder. (b) The aggregate amount of P&I Advances to be made by the Master Servicer, the Trustee or the Fiscal Agent, as the case may be, pursuant to the first paragraph of Section 4.03(a) in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equalshall, subject to subsection (cSection 4.03(c) below, equal the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and any related Workout Fees payable hereunderFees, that were due or deemed due, as the case may be, in respect thereof of the Mortgage Loans (including Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Mortgage Loans in the Mortgage Pool (exclusive of the Trust Mortgage Loans or any successor REO Mortgage Loans with respect thereto) on their respective Due Dates during the related Collection Period and that were Period, in each case to the extent such amount was not paid by or on behalf of the related Mortgagors Mortgagor or otherwise collected (including as net income from REO Properties) as of the close of business on the last day of the related Collection PeriodDetermination Date; provided that, that if it is determined that an Appraisal Reduction Amount exists with respect to any Required Appraisal such Mortgage Loan or REO Mortgage Loan, then, in the event of subsequent delinquencies thereon, the interest portion amount of the each P&I Advance Advance, if any, required to be made in respect of such Required Mortgage Loan or REO Mortgage Loan, as the case may be, during the period that such Appraisal Loan for the related Distribution Date Reduction Amount continues to exist, shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (ix) the amount of the interest portion of such subject P&I Advance for such Required Appraisal Loan for such Distribution Date that would otherwise be required without regard to this proviso, multiplied by (iiy) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Mortgage Loan immediately prior to such Distribution Dateor REO Mortgage Loan, as the case may be, net of the related such Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Mortgage Loan immediately prior to such Distribution Dateor REO Mortgage Loan, as the case may be. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder under this Section 4.03 if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance pursuant to this Section 4.03 or that any proposed P&I Advance, if mademade pursuant to this Section 4.03, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (andto the Trustee, in any event, in the case of a proposed P&I Advance by Fiscal Agent and the Master Servicer, no less than 5 Business Days prior to Depositor on or before the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( any other information that supports such determination, including an appraisal (which appraisal shall have been conducted by an Independent Appraiser within the 12-month period preceding such determination is prior to in accordance with the liquidation standards of the Appraisal Institute taking into account the factors specified in Section 3.19), related Mortgage Loan or REO Property) a copy of an Appraisal Mortgagor operating statements and financial statements, budgets and rent rolls of the related Mortgaged Property Properties (to the extent available and/or in the Master Servicer's or REO Propertythe Special Servicer's possession), as the case may beengineers' reports, which shall have been performed within the twelve months preceding such determination, environmental surveys and further accompanied by any other information similar reports that the Master Servicer or may have obtained consistent with the Servicing Standard and at the expense of the Trust Fund, that support such determination by the Master Servicer. If, in connection with the foregoing, it is necessary for the Master Servicer to obtain an appraisal, the Master Servicer shall so notify the Special Servicer may have obtained and that supports consult with the Special Servicer regarding such determinationappraisal. The Trustee and the Fiscal Agent shall deliver such Officer's Certificate as soon as practicable after its be entitled to rely, conclusively, on any determination by the Master Servicer that a P&I Advance, if made, would be a Nonrecoverable P&I Advance; provided, however, that if the Master Servicer has failed to make a P&I Advance for reasons other than a determination by the Master Servicer that such P&I Advance would be nonrecoverable. If Nonrecoverable P&I Advance, the Trustee or Fiscal Agent shall make such an Appraisal shall not have been Advance within the time periods required and performed pursuant by Section 4.03(a) unless the Trustee or the Fiscal Agent, in its good faith, reasonable discretion, makes a determination prior to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination times specified in Section 4.03(a) that such Appraisal will demonstrate the nonrecoverability of the related P&I Advance would be a Nonrecoverable P&I Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on Upon determining that any determination of nonrecoverability that may have been P&I Advance previously made by the Master Servicer or the Special Servicer with respect to a particular Specially Serviced Loan or REO Loan is a Nonrecoverable P&I Advance, and the Special Servicer shall report to the Master Servicer the Special Servicer's determination. The Master Servicer shall be entitled to conclusively rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advancesuch determination. (d) As and to the extent permitted by Section 3.05(a)The Master Servicer, the Master Servicer Trustee and the Trustee Fiscal Agent shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, compounded monthly, accrued on the amount of each P&I Advance made thereby under this Section 4.03 (out of with its own funds) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Serviceroutstanding; provided that, if earlier, until the Late Collection grace period for the delinquent Monthly Payment as to which a P&I Advance was made under this Section has not elapsed as of the delinquent principal and/or interest in respect of which time such P&I Advance was made has been made, then the total interest so accrued on such P&I Advance prior to the expiration of such grace period, shall not exceed the amount of Default Charges, if any, collected in connection with the late payment of such delinquent Monthly Payment; and provided, further that, in no event shall interest so accrue on any P&I Advance as to which the corresponding Late Collection was received by the Master Servicer or any of its a Sub-Servicers), and such interest will Servicer on its behalf as of the related Master Servicer Remittance Date. Interest so accrued on any P&I Advance made under this Section shall be paidpayable: first, (i) out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, Pool during the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loansame Collection Period in which such Advance is reimbursed; and second(ii) to the extent that such Default Charges are insufficient, but only if the related Advance is being reimbursed at any the same time coinciding with or following the reimbursement of such P&I Advancehas been previously reimbursed pursuant to this Agreement, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Pool Custodial Account. As and to the extent provided by The Master Servicer shall, in accordance with Section 3.05(a), reimburse itself, the Master Servicer shall reimburse itself Trustee or the TrusteeFiscal Agent, as appropriateapplicable, for any outstanding P&I Advance made thereby under this Section 4.03 as soon as practicable after funds available for such purpose are deposited in the Certificate Pool Custodial Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance the related P&I Advance Date. IfNotwithstanding the foregoing, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such any P&I Advances that was required Advance equal to bethe CREFC® Intellectual Property Royalty License Fee for the related Mortgage Loans shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account, but was not, made by shall be deposited into the Master Servicer Certificate Account for payment to CREFC® on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDistribution Date. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (including any Non-Serviced Mortgage Loan) or REO Loan (other than Balloon Payments) and any Assumed Monthly Paymentsportion of an REO Loan related to a Companion Loan), shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Non-Serviced Master Servicer and Non-Serviced Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within two (2) Business Days of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. (d) As and Serviced Companion Noteholder, except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan (or, in the case of a Non-Serviced Whole Loan, an Appraisal Reduction has been made in accordance with the related Non-Serviced Pooling Agreement and the Master Servicer has notice of such Appraisal Reduction) then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (other than Balloon Paymentsincluding any Non-Serviced Mortgage Loan) and any Assumed Monthly Paymentsor REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Other Master Servicer and Other Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable under the applicable Non-Serviced Pooling and good faith determination that such Appraisal will demonstrate the nonrecoverability Servicing Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within one (1) Business Day of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling and Servicing Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling and Servicing Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling and Servicing Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. (d) As and Serviced Companion Noteholder, except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan (or, in the case of a Non-Serviced Whole Loan, an appraisal reduction has been made in accordance with the related Non-Serviced Pooling and Servicing Agreement and the Master Servicer has notice of such appraisal reduction) then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) the Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Subordinate Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionFor the avoidance of doubt, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, or the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by sole discretion provided in this Agreement to determine that any other information that the Master Servicer future P&I Advance or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such outstanding P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to the terms of this AgreementSection 3.05(a), the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds payable or allocable to a particular P&I Advance. (d) As and Subordinate Companion Loan Holder unless, subject to the extent permitted by Section 3.05(arelated Intercreditor Agreement, such P&I Advance is related to the related AB Mortgage Loan), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, and in no event (i) neither the Master Servicer nor the Trustee shall interest accrue in accordance with this Section 4.03(d) on make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges or prepayment premiums or any P&I Advance with respect to any Subordinate Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to which the corresponding Late Collection had been received as Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related date Appraisal Reduction (or, in the case of an AB Whole Loan, the portion of such Appraisal Reduction allocable to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on which such P&I Advance was madethe Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) Neither the Master Servicer nor the Trustee shall advance any amount due to be paid by the Swap Counterparty for distribution to the Class A-4FL Certificates.

P&I Advances. (a) On or before 1:00 p.m., New York City time, on each Master Servicer Remittance Date, the Master Servicer shall in the case of all Mortgage Loans, either (i) deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees, Liquidation Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). If, as of 1:00 3:00 p.m., New York City time, on any Master Servicer Remittance Date, the Master Servicer shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____) ____-[______ __________] (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. ([____) ___-____ _____] (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:00 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make, by 11:00 a.m. on the Distribution Date or in any event by such time as shall be required to make the required distribution on such Distribution Date, the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master Servicer. (b) The aggregate amount of P&I Advances to be made in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans that are included in the Trust Fund delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of [___] Business Day before the related Collection PeriodMaster Servicer Remittance Date; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date; provided, further, that the Master Servicer shall not advance Excess Interest with respect to ARD Loans or a Prepayment Premium. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, with respect to the Mortgage Loans, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, or the Trustee, Trustee that it has made a Nonrecoverable P&I Advance has been made or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 [___] Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and Depositor, the Rating Agencies, the Directing Certificateholder, setting forth the basis for such determination, together with ( (such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve 12 months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the TrustTrust out of general collections. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, . The Master Servicer and the Master Servicer Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the The Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) ), to the extent that such P&I Advance relates to a Past Grace Period Loan when made, or remains outstanding when such Mortgage Loan becomes a Past Grace Period Loan, in which case such interest shall begin to accrue when such Mortgage Loan becomes a Past Grace Period Loan, for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-ServicersServicer), and such . Such interest will be paid: first, out of any Default Charges collected on or as set forth in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO LoanSection 3.27; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in into the Certificate Account, Account and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made. (e) With regard to such P&I Advances, the Master Servicer, the Special Servicer or the Trustee shall account for that part of the P&I Advances that is attributable to Past Grace Period Loans, and that part of the P&I Advances that is attributable to Within Grace Period Loans.

P&I Advances. (a) On or before 1:00 p.m., New York City time, on each Master Servicer Remittance Date, the Master Servicer shall either (i) deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). If, as of 1:00 p.m., New York City time, on any Master Servicer Remittance Date, the Master Servicer shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____816) ____435-______ 2327 (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____000) ___000-____ 0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make, by 10:00 a.m. on the Distribution Date or in any event by such time as shall be required in order to make the required distribution on such Distribution Date, the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master Servicer. (b) The aggregate amount of P&I Advances to be made in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made.

P&I Advances. (a) On or before 1:00 12:30 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating 105 the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding P&I Advance Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Servicer shall notify the Trustee and the Fiscal Agent by a certificate of the Servicing Officer of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before 3 Business Days prior to such Distribution Date. If the Servicer fails to make a required P&I Advance by 12:30 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer an Event of Default as set forth in clause (a)(i) of Section 7.01 shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (occur and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of make such failure P&I Advance pursuant to a Servicing Officer of Section 7.05, and if the Master Servicer by facsimile transmission sent Trustee fails to telecopy no. (____) ____-______ (or make such alternative number provided P&I Advance by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m.close of business, New York City time, on such Master Servicer Remittance P&I Advance Date. If, after such notice, the Fiscal Agent shall make such P&I Advance pursuant to Section 7.05 by 10:00 a.m., New York City time, on the immediately succeeding Business Day. In the event that the Servicer fails to make a required P&I Advance hereunder, the Paying Agent shall notify the Trustee does not receive and the full amount Fiscal Agent of such P&I Advances circumstances by the close of business 1:00 p.m. (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The Subject to Section 4.03(c) and (e) below, the aggregate amount of P&I Advances to be made in by the Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equalequal the aggregate of: (i) all Monthly Payments (in each case, subject net of related Servicing Fees) other than Balloon Payments, that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf obligation of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided thatServicer to make such P&I Advances is mandatory, if an Appraisal Reduction Amount exists and with respect to any Required Appraisal Mortgage Loan or REO Loan, then, in shall continue until the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in on which the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amountproceeds, if any, and the denominator of which is equal received in connection with a Liquidation Event with respect thereto are to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Datebe distributed. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. . (d) In addition, Nonrecoverable connection with the recovery of any P&I Advances shall be reimbursable Advance out of the Certificate Account pursuant to Section 3.05(a) ), the Servicer shall be entitled to pay itself, the Trustee or the Fiscal Agent, as the case may be (in reverse of such order with respect to any Mortgage Loan), out of general collections on the Mortgage Pool any amounts then on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in from the case date made to but not including the date of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Accountreimbursement. As and to the extent provided by Section 3.05(a), the Master The Servicer shall reimburse itself itself, the Trustee or the TrusteeFiscal Agent, as appropriatethe case may be, for any outstanding P&I Advance made thereby as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. 106 (e) Notwithstanding the foregoing, and in no event shall interest accrue in accordance with this Section 4.03(d(i) on any P&I Advance as to which the corresponding Late Collection had been received as none of the related date Servicer, the Trustee and the Fiscal Agent shall be required to make an advance for Penalty Charges, Prepayment Premiums or Yield Maintenance Charges and (ii) the amount required to be advanced in respect of delinquent Monthly Payments or Assumed Scheduled Payments on which Mortgage Loans that have been subject to an Appraisal Reduction Event will equal, with respect to any Distribution Date and any Mortgage Loan, the amount that would be required to be advanced by the Servicer without giving effect to the Appraisal Reduction less any Appraisal Reduction Amount with respect to such P&I Advance was madeMortgage Loan for such Distribution Date.

P&I Advances. (a) On or before 1:00 p.m.In the event the Servicer fails to make any P&I Advance required to be made by it under the Servicing Agreement, New York City time, on each Master Servicer Remittance Date, then the Master Servicer (in the Master Servicer's capacity as successor Servicer, or in the Master Servicer's capacity as Master Servicer hereunder if such Servicer shall either not have been terminated and succeeded to under such Servicing Agreement) or any other successor Servicer shall be required to make such P&I Advance on the Distribution Date with respect to which the Servicer was required to make such Advance, subject to the Master Servicer's (or such successor Servicer's) determination of recoverability. The Master Servicer (or other successor Servicer) shall not be required to make any P&I Advance to cover any Relief Act Shortfall on any Mortgage Loan. If the Master Servicer (or other successor Servicer) is required to make any P&I Advances, such advances may be made by it (i) deposit into the Distribution Account from its own funds an amount equal or (ii) from the Custodial Account or Master Servicer Collection Account, to the aggregate amount extent of P&I Advancesfunds held therein for future distribution (in which case, if any, it will cause to be made an appropriate entry in respect the records of the related Distribution DateCustodial Account or Master Servicer Collection Account, (ii) apply as applicable, that amounts held in the Certificate Account for future distribution to Certificateholders in subsequent months have been, as permitted by this Section 4.03, used by the Master Servicer (or other successor Servicer) in discharge of any such obligation to make P&I Advances, Advance) or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, made by the Master Servicer shall use such Late Collections (net of any Master Servicing Fees or other successor Servicer) with respect to the Mortgage Loans and Workout Fees payable therefrom) to make such P&I AdvancesREO Properties. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's (or other successor Servicer's) records and replaced by the Master Servicer (or other successor Servicer) by deposit in the Certificate Custodial Account or the Master Servicer Collection Account, as applicable, on or before the next succeeding Determination any future Servicer Remittance Date (to the extent not previously replaced through that the deposit of Late Collections of Available Distribution Amount for the delinquent principal and/or interest in respect of which such related Distribution Date (determined without regard to P&I Advances were made). If, as of 1:00 p.m., New York City time, on any Master Servicer Remittance Date, the Master Servicer shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, ) shall be less than the Trustee does not receive total amount that would be distributed to the full amount Classes of such P&I Advances by the close of business (New York City time) Certificateholders pursuant to Section 4.01 on such Master Servicer Remittance Date, then (i) unless the Trustee determines that Distribution Date if such Advance would be a Nonrecoverable amounts held for future distributions had not been so used to make P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerAdvances. (b) The aggregate amount obligation of the Master Servicer (or other successor Servicer) to make such P&I Advances to be made in respect is mandatory, notwithstanding any other provision of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, this Agreement but subject to subsection (cSection 4.03(c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Paymentsand, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal LoanMortgage Loan or REO Property, thenshall continue until a Final Recovery Determination in connection therewith or the removal thereof from REMIC I pursuant to any applicable provision of this Agreement, except as otherwise provided in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution DateSection. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder by the Master Servicer (or other successor Servicer) if such P&I Advance would, if made, constitute be deemed by the Master Servicer (or other successor Servicer) to be a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, (or other successor Servicer) that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Officers' Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer (or other successor Servicer, no less than 5 Business Days prior ) delivered to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I AdvanceTrustee. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Trustee for deposit into the Lower-Tier Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding P&I Advance Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Servicer shall notify the Trustee of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before 2 Business Days prior to such Distribution Date. If the Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer Trustee shall not have made any make such P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer 7.05 by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m.noon, New York City time, on the related Distribution Date, and if the Trustee fails to make such Master Servicer Remittance Date. If, after such noticeP&I Advance, the Trustee does not receive the full amount of Fiscal Agent shall make such P&I Advances Advance pursuant to Section 7.05 by the close of business (4:00 pm, New York City time, on the related Distribution Date in each case unless the Servicer shall have cured such failure (and provided written notice of such cure to the Trustee and the Fiscal Agent) by 11:00 a.m. on such Master Servicer Remittance Distribution Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master Servicer. (b) The aggregate Subject to Sections 4.03(c) and (e) below, the amount of P&I Advances to be made in by the Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by the Servicer or any Sub-Servicer on behalf of the Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) the Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal a Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant With respect to Section 3.05(a) out of general collections on the Grace Building Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicableLoan, the Trustee, Servicer will be required to make its determination that it has made a Nonrecoverable P&I Advance on such Grace Building Mortgage Loan that is a Nonrecoverable Advance or that any proposed P&I Advance would, if made, constitute a Nonrecoverable Advance with respect to the Grace Building Mortgage Loan independently of any determination made by any Other Servicer under the related Other Pooling and Servicing Agreement in respect of a related Grace Building Companion Note, and the Other Servicer shall make its own determination that it has made a P&I Advance that is a Nonrecoverable Advance (as defined in such Other Pooling and Servicing Agreement) or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly Advance (and, as defined in any event, such Other Pooling and Servicing Agreement) with respect to a Grace Building Companion Note included in the case of Loan Pair in accordance with the Other Pooling and Servicing Agreement. If the Servicer determines that a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular Grace Building Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Grace Building Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, the Servicer shall provide the related Other Servicer written notice of such determination within one Business Day of the date of such determination. If the Servicer receives written notice from an Other Servicer that it has determined, by making a determination of non-recoverability under the Other Pooling and Servicing Agreement, with respect to a related Grace Building Companion Note that any proposed advance under such Other Pooling and Servicing Agreement that is similar to a P&I Advance would be, or any outstanding advance under such Other Pooling and Servicing Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then such determination shall not be binding on the Master Certificateholders. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Servicer shall be entitled to rely pay the Fiscal Agent and/or the Trustee, as applicable, and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds payable or allocable to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(aholder of a Grace Building Senior Companion Note), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the Master The Servicer shall reimburse itself or itself, the Fiscal Agent and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) none of the Servicer, the Trustee or the Fiscal Agent shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest or Penalty Charges and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this subsection (ii), and in (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction, if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any of the Servicer, the Trustee or the Fiscal Agent be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Trustee for deposit into the Lower-Tier Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the its Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the applicable Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Trustee of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer Trustee shall not have made any make such P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer 7.05 by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m.noon, New York City time, on such the related Distribution Date, in each case unless the Master Servicer Remittance Date. If, after shall have cured such notice, the Trustee does not receive the full amount failure (and provided written notice of such P&I Advances cure to the Trustee) by the close of business 11:00 a.m. (New York City timeTime) on such Master Servicer Remittance Distribution Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master Servicer. (b) The aggregate Subject to Sections 4.03(c) and (e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan that it is responsible for servicing hereunder shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees, subject and in the case of the JQH Hotel Portfolio Mortgage Loan after the JQH Hotel Portfolio Servicing Transfer Event, the applicable servicing fees payable under this Agreement) other than Balloon Payments, that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) the Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, with respect thereto are to be distributed. No P&I Advances shall be made with respect to a Companion Loan. (c) Notwithstanding anything herein to the contrary or as set forth in the related Intercreditor Agreement, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. With respect to the Franklin Mills Mortgage Loan, the Master Servicer will be required to mxxx xxx xxxxxxination that it has made a P&I Advance on the Franklin Mills Mortgage Loan that is a Nonrecoverable Advance or that axx xxxxxxxx X&I Advance would, if made, constitute a Nonrecoverable Advance with respect to the Franklin Mills Mortgage Loan independently of any determination made by xxx Xxxxx Xxxvicer, under any Other Pooling and Servicing Agreement in respect thereof of any related Franklin Mills Pari Passu Companion Loan. Upon making such a determinatxxx xx xxxxxxxverability (and upon any reversal of such determination), the Master Servicer shall promptly notify in writing (together with supporting evidence for such determination) the Franklin Mills Pari Passu Companion Loan Holders (and any trustee or Otxxx Xxxxxxxx xnder a related Other Pooling and Servicing Agreement, as applicable). With respect to the ChampionsGate Mortgage Loan, the Master Servicer will be required to make its determination that it has made a P&I Advance on their respective Due Dates during the subject Mortgage Loan that is a Nonrecoverable Advance or that any proposed P&I Advance would, if made, constitute a Nonrecoverable Advance with respect to the subject Mortgage Loan. Upon any such determination, the Master Servicer shall provide written notice of such determination within two Business Days to each Other Servicer with respect to the ChampionsGate Pari Passu Companion Loan. Once such notice has been delivered or the Master Servicer has received notice from any Other Servicer with respect to the ChampionsGate Pari Passu Companion Loan of a nonrecoverability determination made by such Other Servicer, no party to this Agreement shall make any additional P&I Advances with respect to the related Collection Period Mortgage Loan until the Master Servicer has consulted with the Other Servicer under any Other Pooling and Servicing Agreement with respect to such Whole Loan and they agree that were circumstances with respect to the related Whole Loan have changed such that a proposed future P&I Advance would not paid be a Non-Recoverable Advance. Notwithstanding the foregoing, the Master Servicer shall not be required to abide by any determination of non-recoverability by any Other Servicer with respect to the ChampionsGate Whole Loan if, in accordance with the ChampionsGate Intercreditor Agreement, such Other Servicer no longer has the approval of S&P or Moody's (and such Rating Agency has rated the securities issued under txx xxxxted Other Pooling and Servicing Agreement). With respect to the Carespring Portfolio Mortgage Loan, the Master Servicer will be required to make its determination that it has made a P&I Advance on behalf the Carespring Portfolio Mortgage Loan that is a Nonrecoverable Advance or that any proposed P&I Advance would, if made, constitute a Nonrecoverable Advance with respect to the Carespring Portfolio Mortgage Loan independently of any determination made by any Other Servicer, under any Other Pooling and Servicing Agreement in respect of any related Carespring Portfolio Pari Passu Companion Loan. Upon making such a determination of nonrecoverability (and upon any reversal of such determination), the Master Servicer shall promptly notify in writing (together with supporting evidence for such determination) the Carespring Portfolio Pari Passu Companion Loan Holders (and any trustee or Other Servicer under a related Other Pooling and Servicing Agreement, as applicable). With respect to the JQH Hotel Portfolio Mortgage Loan, the Master Servicer will be required to make its determination that it has made a P&I Advance on the subject Mortgage Loan that is a Nonrecoverable Advance or that any proposed P&I Advance would, if made, constitute a Nonrecoverable Advance with respect to the subject Mortgage Loan. Upon any such determination, the Master Servicer shall provide written notice of such determination within two Business Days to each Other Servicer with respect to any JQH Hotel Portfolio Pari Passu Companion Loan. Once such notice has been delivered or the Master Servicer has received notice from any Other Servicer with respect to any JQH Hotel Portfolio Pari Passu Companion Loan of a nonrecoverability determination made by such Other Servicer, no party to this Agreement shall make any additional P&I Advances with respect to the related Mortgage Loan until the Master Servicer has consulted with the Other Servicer under any Other Pooling and Servicing Agreement with respect to such Whole Loan and they agree that circumstances with respect to the related Whole Loan have changed such that a proposed future P&I Advance would not be a Non-Recoverable Advance. Notwithstanding the foregoing, the Master Servicer shall not be required to abide by any determination of non-recoverability by any Other Servicer with respect to the JQH Hotel Portfolio Whole Loan if, in accordance with the JQH Hotel Portfolio Intercreditor Agreement, such Other Servicer no longer has the approval of S&P or Moody's (and such Rating Agency has rated the securities issued under txx xxxxted Other Pooling and Servicing Agreement). With respect to each Logan Portfolio Mortgage Loan, the Master Servicer will be required to xxxx its determination that it has made a P&I Advance on such Logan Portfolio Mortgage Loan that is a Nonrecoverable Advance or that xxx xroposed P&I Advance would, if made, constitute a Nonrecoverable Advance with respect to the applicable Logan Portfolio Mortgage Loan independently of any determination made bx xxx Other Servicer, under any Other Pooling and Servicing Agreement in respect of any related Logan Portfolio Pari Passu Companion Loan. Upon making such a determinaxxxx of nonrecoverability (and upon any reversal of such determination), the Master Servicer shall promptly notify in writing (together with supporting evidence for such determination) the applicable Logan Portfolio Pari Passu Companion Loan Holders (and any trustee or Oxxxx Servicer under a related Other Pooling and Servicing Agreement, as applicable). (d) In connection with the recovery of any P&I Advance out of the related Mortgagors applicable Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in such Certificate Account (but in no event from any funds payable or otherwise collected as allocable to a holder of any Serviced Securitized Companion Loan), interest at the close of business Reimbursement Rate in effect from time to time, accrued on the last day amount of such P&I Advance from the date made to but not including the date of reimbursement; provided, however, no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Collection Period; provided thatDue Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is received after the Determination Date but on or prior to the related P&I Advance Date. The Master Servicer shall reimburse itself and the Trustee, as the case may be, for any outstanding P&I Advance, subject to Section 3.19 of this Agreement, as soon as practicably possible after funds available for such purpose are deposited in its Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest or Penalty Charges and (ii) if an Appraisal Reduction Amount exists has been made with respect to any Required Appraisal Loan, then, Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (ix) the amount of the interest portion of such P&I Advance for such Required Appraisal Mortgage Loan for such Distribution Date without regard to this proviso, multiplied by subsection (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction AmountReduction, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (cf) Notwithstanding anything herein to the contrary, In no P&I Advance event shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that either the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such be required to make a P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant with respect to the terms any Companion Loan. (g) None of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall advance any amount due to be entitled to rely on any determination of nonrecoverability that may have been made paid by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and Swap Counterparty for distribution to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeClass A-2FL Certificates.

P&I Advances. (a) On or before 1:00 12:30 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding P&I Advance Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Servicer shall notify the Trustee and the Fiscal Agent by a certificate of the Servicing Officer of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before 3 Business Days prior to such Distribution Date. If the Servicer fails to make a required P&I Advance by 12:30 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer an Event of Default as set forth in clause (a)(i) of Section 7.01 shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (occur and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of make such failure P&I Advance pursuant to a Servicing Officer of Section 7.05, and if the Master Servicer by facsimile transmission sent Trustee fails to telecopy no. (____) ____-______ (or make such alternative number provided P&I Advance by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m.close of business, New York City time, on such Master Servicer Remittance P&I Advance Date. If, after such notice, the Fiscal Agent shall make such P&I Advance pursuant to Section 7.05 by 10:00 a.m., New York City time, on the immediately succeeding Business Day. In the event that the Servicer fails to make a required P&I Advance hereunder, the Paying Agent shall notify the Trustee does not receive and the full amount Fiscal Agent of such P&I Advances circumstances by the close of business 1:00 p.m. (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The Subject to Section 4.03(c) and (e) below, the aggregate amount of P&I Advances to be made in by the Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equalequal the aggregate of: (i) all Monthly Payments (in each case, subject net of related Servicing Fees) other than Balloon Payments, that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf obligation of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided thatServicer to make such P&I Advances is mandatory, if an Appraisal Reduction Amount exists and with respect to any Required Appraisal Mortgage Loan or REO Loan, then, in shall continue until the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in on which the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amountproceeds, if any, and the denominator of which is equal received in connection with a Liquidation Event with respect thereto are to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Datebe distributed. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. . (d) In addition, Nonrecoverable connection with the recovery of any P&I Advances shall be reimbursable Advance out of the Certificate Account pursuant to Section 3.05(a) ), the Servicer shall be entitled to pay itself, the Trustee or the Fiscal Agent, as the case may be (in reverse of such order with respect to any Mortgage Loan), out of general collections on the Mortgage Pool any amounts then on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in from the case date made to but not including the date of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Accountreimbursement. As and to the extent provided by Section 3.05(a), the Master The Servicer shall reimburse itself itself, the Trustee or the TrusteeFiscal Agent, as appropriatethe case may be, for any outstanding P&I Advance made thereby as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, and in no event shall interest accrue in accordance with this Section 4.03(d(i) on any P&I Advance as to which the corresponding Late Collection had been received as none of the related date Servicer, the Trustee and the Fiscal Agent shall be required to make an advance for Penalty Charges, Prepayment Premiums or Yield Maintenance Charges and (ii) the amount required to be advanced in respect of delinquent Monthly Payments or Assumed Scheduled Payments on which Mortgage Loans that have been subject to an Appraisal Reduction Event will equal, with respect to any Distribution Date and any Mortgage Loan, the amount that would be required to be advanced by the Servicer without giving effect to the Appraisal Reduction less any Appraisal Reduction Amount with respect to such P&I Advance was madeMortgage Loan for such Distribution Date.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) the Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists with respect thereto are to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Datedistributed. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionFor the avoidance of doubt, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, or the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by sole discretion provided in this Agreement to determine that any other information that the Master Servicer future P&I Advance or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such outstanding P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to the terms of this AgreementSection 3.05(a), the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and pay the Trustee shall each and itself (in that order of priority) as the case may be entitled to receive out of any amounts then on deposit in the Certificate Account, interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges or prepayment premiums and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and in no event shall interest accrue in accordance with this Section 4.03(d(y) on any P&I Advance a fraction, expressed as a percentage, the numerator of which is equal to which the corresponding Late Collection had been received as Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related date Appraisal Reduction, if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on which such P&I Advance was madethe Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) the Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists with respect thereto are to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Datedistributed. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionFor the avoidance of doubt, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, or the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by sole discretion provided in this Agreement to determine that any other information that the Master Servicer future P&I Advance or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such outstanding P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to the terms of this AgreementSection 3.05(a), the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and pay the Trustee shall each and itself (in that order of priority) as the case may be entitled to receive out of any amounts then on deposit in the Certificate Account, interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums or Balloon Payment and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and in no event shall interest accrue in accordance with this Section 4.03(d(y) on any P&I Advance a fraction, expressed as a percentage, the numerator of which is equal to which the corresponding Late Collection had been received as Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related date Appraisal Reduction, if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on which such P&I Advance was madethe Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date.

P&I Advances. (a) On or before 1:00 1:30 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) apply amounts in the Certificate Account received after the end of the related Collection Period or otherwise held for future distribution to Certificateholders in subsequent months in discharge of its obligation to make P&I Advances or (ii) subject to Section 4.03(c) below, remit from its own funds to the Paying Agent for deposit into the Distribution Account from its own funds Account, an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, or (iii) . The Master Servicer may also make P&I Advances in the form of any combination of clauses (i) and (ii) above aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or and interest in respect of which such P&I Advances were made). If, as of 1:00 3:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's ’s Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____000) ____000-______ 0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____000) ___000-____ 0000 or (000) 000-0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:00 p.m., New York City time, on such Master Servicer Remittance P&I Advance Date. If, after such notice, If the Trustee does not receive the full amount of such P&I Advances by the close of business (10:00 a.m., New York City time) , on such Master Servicer Remittance the related Distribution Date, then then, subject to Section 4.03(c), (i) unless the Trustee determines that shall, no later than 11:00 a.m., New York City time, on such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall related Distribution Date make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date P&I Advance Date, and (ii) such failure the provisions of Sections 7.01 and 7.02 shall constitute an Event of Default on the part of the Master Servicerapply. (b) The aggregate amount of P&I Advances to be made by the Master Servicer or the Trustee in respect of any Distribution Date shall, subject to Section 4.03(c) and Section 4.03(e) below, equal the aggregate of all Periodic Payments (other than Balloon Payments) and any Assumed Scheduled Payments, net of related Servicing Fees (and, in the case of the 2007-C30 Serviced Mortgage Loans, the Xxxxxx Xxxxxxx 2007-IQ14 Serviced Mortgage Loan and the GECMC 2007-C1 Serviced Mortgage Loan, servicing fees due to the 2007-C30 Master Servicer, the Xxxxxx Xxxxxxx 2007-IQ14 Master Servicer or the GECMC 2007-C1 Master Servicer, as the case may be, to the extent not so otherwise paid pursuant to the related Intercreditor Agreement) due or deemed due, as the case may be, in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during (or deemed to be during) the related Collection Period and that were in each case, to the extent such amount was not paid by or on behalf of the related Mortgagors Mortgagor or otherwise collected (including as net income from REO Properties) as of the close of business on the last day of the related Collection Period; provided thatthat (x) if the Periodic Payment on any Mortgage Loan has been reduced in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment granted or agreed to by the Special Servicer pursuant to Section 3.20, or if the final maturity on any Mortgage Loan shall be extended in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment granted or agreed to by the Special Servicer pursuant to Section 3.20, and the Periodic Payment due and owing during the extension period is less than the related Assumed Scheduled Payment, then the Master Servicer or the Trustee shall, as to such Mortgage Loan only, advance only the amount of the Periodic Payment due and owing after taking into account such reduction (net of related Servicing Fees) in the event of subsequent delinquencies thereon; and (y) if it is determined that an Appraisal Reduction Amount exists with respect to any Required Appraisal Mortgage Loan, then, with respect to the Distribution Date immediately following the date of such determination and with respect to each subsequent Distribution Date for so long as such Appraisal Reduction Amount exists with respect to such Required Appraisal Mortgage Loan, the Master Servicer or the Trustee will be required in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance to advance in respect of such Required Appraisal Mortgage Loan for only an amount equal to the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product sum of (iA) the amount of the interest portion of such the P&I Advance for such Required Appraisal Loan for such Distribution Date that would otherwise be required without regard to this provisoclause (y), multiplied by minus the product of (ii1) a fractionsuch Appraisal Reduction Amount and (2) the per annum Pass-Through Rate (i.e., expressed as a percentagefor any month, one-twelfth of the numerator of which is equal Pass-Through Rate) applicable to the Stated Principal Balance Class of Certificates to which such Required Appraisal Loan immediately prior Reduction Amount is allocated pursuant to such Distribution Date, net Section 4.04(d) and (B) the amount of the related Appraisal Reduction Amount, if any, and principal portion of the denominator of which is equal P&I Advance that would otherwise be required without regard to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Datethis clause (y). (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, or the Trustee, Special Servicer that it the Master Servicer has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's ’s Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), and the Depositor and on or before the Rating Agenciesrelated P&I Advance Date, setting forth the basis for such determination, together with ( such determination is prior to any other information, including Appraisals (the liquidation cost of which may be paid out of the related Mortgage Loan or REO PropertyCertificate Account pursuant to Section 3.05(a)) (or, if no such Appraisal has been performed pursuant to this Section 4.03(c), a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination), related Mortgagor operating statements and further accompanied by financial statements, budgets and rent rolls of the related Mortgaged Properties, engineers’ reports, environmental surveys and any other information similar reports that the Master Servicer or the Special Servicer may have obtained consistent with the Servicing Standard and at the expense of the Trust Fund, that supports support such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, by the Master Servicer or the Special Servicer. As soon as reasonably practical after making such determination, the Special Servicer shall report to the Master Servicer the Special Servicer’s determination as to whether each P&I Advance made with respect to any previous Distribution Date or required to be made with respect to such Distribution Date with respect to any Specially Serviced Mortgage Loan or REO Loan is a Nonrecoverable P&I Advance. The Master Servicer shall conclusively rely on such determination by the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the TrustSpecial Servicer. The Trustee (i) shall be entitled to rely, conclusively, on any determination by the Master Servicer and (ii) shall conclusively rely on any determination of nonrecoverability by the Special Servicer that may a P&I Advance, if made, would be a Nonrecoverable Advance (and with respect to a P&I Advance, the Trustee shall rely on the Master Servicer’s determination that the P&I Advance would be a Nonrecoverable Advance if the Trustee determines that it does not have been made sufficient time to make such determination); provided, however, that, if the Master Servicer has failed to make a P&I Advance for reasons other than a determination by the Master Servicer or the Special Servicer that such P&I Advance would be Nonrecoverable Advance, the Trustee shall make such Advance within the time periods required by Section 4.03(a) unless the Trustee, in accordance with respect the standard of care set forth in Section 8.01(a), makes a determination prior to the times specified in Section 4.03(a) that such P&I Advance would be a particular Nonrecoverable Advance. The Trustee, in determining whether or not a P&I Advance previously made is, or a proposed P&I Advance, and if made, would be, a Nonrecoverable Advance shall be subject to the standards set forth in Section 8.01(a) hereunder, including utilizing its good faith business judgment to make such determination. (d) In connection with the recovery by the Master Servicer or the Trustee of any P&I Advance out of the Certificate Account pursuant to Section 3.05(a), subject to the next sentence, the Master Servicer shall be entitled to rely pay itself or the Trustee, as the case may be, out of any amounts then on any determination of nonrecoverability that may have been made by deposit in the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a)Certificate Account, the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, compounded annually, accrued on the amount of each such P&I Advance (to the extent made thereby (out of with its own funds) for so long as from the date made (provided, however, no such P&I Advance is outstanding (orinterest shall accrue during any grace period under a Mortgage Loan) to but not including the date of reimbursement, in the case of Advance Interest payable such interest to be payable, subject to the Master Servicer, if earlier, until the Late Collection terms of the delinquent principal and/or interest in related Intercreditor Agreement with respect of which such P&I Advance was made has been received by to the Master Servicer or any of its Sub-Servicers)related Loan Pair, and such interest will be paid: first, first out of any Default Charges collected late payment charges and Penalty Interest received on or in respect of the related Mortgage Loan during, or REO Property during the Collection Period in which such reimbursement is made and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of then from general collections on the Mortgage Loans and any REO Properties then on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or the Trustee, as appropriateapplicable, for any outstanding P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in have been received by the Certificate AccountMaster Servicer, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding payment of principal and interest or Late Collection had been was received by the Master Servicer on or prior to the related P&I Advance Date. (e) In no event shall the Master Servicer or the Trustee make a P&I Advance with respect to any Companion Loan. (f) None of the Master Servicer, the Paying Agent or the Trustee shall advance any amount due to be paid by the Swap Counterparty for distribution to the Class A-5FL Certificates. (g) Notwithstanding the foregoing, with respect to the Non-Serviced Mortgage Loans, the Master Servicer shall make its determination that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance with respect to such Non-Serviced Mortgage Loan independently of any determination made by any master servicer with respect to a commercial mortgage securitization holding any Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement in respect of such Non-Serviced Companion Loan. If the Master Servicer determines that a proposed P&I Advance with respect to any such Non-Serviced Mortgage Loan if made, or any outstanding P&I Advance with respect to such Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, the Master Servicer shall provide any master servicer with respect to each securitization that holds a related Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement, written notice of such determination within one Business Day of the date of such determination. If the Master Servicer receives written notice from any master servicer with respect to a securitization that holds a related Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement that it has determined, with respect to the related Non-Serviced Companion Loan, that any proposed advance of principal and/or interest with respect to such Non-Serviced Companion Loan would be, or any outstanding advance of principal and/or interest is, a nonrecoverable advance of principal and/or interest, then such determination shall be binding on the Certificateholders and none of the Master Servicer or the Trustee shall make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless the Master Servicer has consulted with the other related master servicer(s) and they agree that circumstances with respect to the related Whole Loan have changed such that a proposed future P&I Advance in respect of the related date Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance; provided, however, that the determination of any master servicer with respect to a securitization that holds a related Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement shall not be binding on which the Certificateholders, and the Master Servicer or the Trustee, as applicable, shall make its own determination of recoverability, in the event that the master servicer that made such determination is not approved as a master servicer by each of S&P and Xxxxx’x. Notwithstanding the foregoing, the Master Servicer shall continue to have the discretion provided in this Agreement to determine that any future P&I Advance was made.or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable P&I Advance. Once such a determination is made by the Master Servicer or the Master Servicer receives written notice of such determination by any of the other related master servicers, none of the Master Servicer or the Trustee shall make any additional P&I Advances with respect to the applicable Non-Serviced Mortgage Loan until the Master Servicer has followed the process set forth in this paragraph. In the event that the Master Servicer receives notice from any of Xxxxx’x or S&P that it is no longer approved as a master servicer for commercial mortgage securitizations, it shall promptly notify the master servicer with respect to each securitization that holds a related Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement. The Master Servicer shall not be required to abide by any determination of nonrecoverability by the master servicer with respect to each securitization that holds a related Non-Serviced Companion Loan under the related Non-Serviced Mortgage Loan Pooling Agreement if such master servicer is no longer approved as a servicer for commercial securitizations by Xxxxx’x and S&P.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees, subject and in the case of each Non-Serviced Mortgage Loan, the applicable servicing fees payable under this Agreement) other than Balloon Payments, that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) the Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Other Master Servicer and Other Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within one (1) Business Day of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. (d) As and Serviced Companion Noteholder, except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance the related P&I Advance Date. IfNotwithstanding the foregoing, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such any P&I Advances that was required Advance equal to bethe CREFC® Intellectual Property Royalty License Fee for the related Mortgage Loans shall not be remitted to the Certificate Administrator for deposit into the Lower Tier REMIC Distribution Account, but was not, made by shall be deposited into the Master Servicer Certificate Account for payment to CREFC® on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDistribution Date. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (other than Balloon Paymentsincluding any Non-Serviced Mortgage Loan) and any Assumed Monthly Paymentsor REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Non-Serviced Master Servicer and Non-Serviced Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Subapplicable Non-Servicers), and such interest will be paid: first, out of any Default Charges collected on or Serviced Pooling Agreement in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made.related

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the applicable Master Servicer shall either (i) remit to the Trustee for deposit into the Lower-Tier Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the its Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the applicable Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the applicable Master Servicer's records and replaced by the such Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfEach Master Servicer shall notify the Trustee of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before 2 Business Days prior to such Distribution Date. If any Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer Trustee shall not have made any make such P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer 7.05 by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m.noon, New York City time, on the related Distribution Date, in each case unless such Master Servicer Remittance Date. If, after shall have cured such notice, the Trustee does not receive the full amount failure (and provided written notice of such P&I Advances cure to the Trustee) by the close of business (New York City time) 11:00 a.m. on such Master Servicer Remittance Distribution Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master Servicer. (b) The aggregate Subject to Sections 4.03(c) and (e) below, the amount of P&I Advances to be made in by any Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan that it is responsible for servicing hereunder shall equalbe equal to: (i) all Monthly Payments (or in the case of the Houston Galleria Trust Subordinate Companion Loan, subject only the interest portion of the Monthly Payment due on the Houston Galleria Trust Subordinate Companion Loan (net of related Servicing Fees) other than Balloon Payments, that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment (or, with respect to the Houston Galleria Trust Subordinate Companion Loan, only the interest portion of the Assumed Scheduled Payment for the Houston Galleria Trust Subordinate Companion Loan) therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) each Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal a Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Pari Passu Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, No. 1 will be required to make its determination that it has made a Nonrecoverable P&I Advance on such Pari Passu Loan that is a Nonrecoverable Advance or that any proposed P&I Advance would, if made, constitute a Nonrecoverable Advance with respect to such Pari Passu Loan independently of any determination made by any Other Servicer under the related Other Pooling and Servicing Agreement in respect of the related Serviced Pari Passu Companion Loan (following its deposit into a securitization trust created under the related Other Pooling and Servicing Agreement), and the Other Servicer shall make its own determination that it has made a P&I Advance that is a Nonrecoverable Advance (as defined in such Other Pooling and Servicing Agreement) or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly Advance (and, as defined in any event, such Other Pooling and Servicing Agreement) with respect to the Serviced Pari Passu Companion Loan in accordance with the case of Other Pooling and Servicing Agreement. If the Master Servicer No. 1 or Special Servicer determines that a proposed P&I Advance with respect to a Pari Passu Loan, if made, or any outstanding P&I Advance with respect to a Pari Passu Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, Master Servicer No. 1 shall provide the related Other Servicer written notice of such determination within one Business Day of the date of such determination. If Master Servicer No. 1 receives written notice from an Other Servicer that it has determined, by making a determination of non-recoverability under the Master ServicerOther Pooling and Servicing Agreement, no less than 5 Business Days prior with respect to the related Serviced Pari Passu Companion Loan that any proposed advance under such Other Pooling and Servicing Agreement that is similar to a P&I Advance would be, or any outstanding advance under such Other Pooling and Servicing Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then such determination shall be binding on the Certificateholders and none of Master Servicer Remittance Date) No. 1 or the Trustee shall make any additional P&I Advances with respect to the Trustee (or, if applicable, retained thereby), related Pari Passu Loan unless the Depositor applicable Master Servicer has consulted with the Other Servicer and they agree that circumstances with respect to such Loan Pair have changed such that a proposed future P&I Advance or an advance under the Rating Agencies, setting forth the basis for such determination, together with ( such determination Other Pooling and Servicing Agreement that is prior similar to the liquidation of the related Mortgage Loan a P&I Advance would not be a Nonrecoverable Advance or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Propertynonrecoverable advance, as the case may be. Notwithstanding the foregoing, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination continue to have the discretion provided in this Agreement to determine that such any future P&I Advance or outstanding P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the applicable Certificate Account, pursuant to the terms of this AgreementSection 3.05(a), the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the applicable Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by pay the Special Servicer with respect to a particular P&I Advance. (d) As Trustee and to itself or the extent permitted by Section 3.05(a), the other Master Servicer and (if amounts in such other Master Servicer's Certificate Account are not sufficient for such reimbursement) (in that order of priority) as the Trustee shall each case may be entitled to receive out of any amounts then on deposit in such Certificate Account, interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the Each Master Servicer shall reimburse itself itself, the Trustee or the Trusteeother Master Servicer (if amounts in such other Master Servicer's Certificate Account are not sufficient for such reimbursement), as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the its Certificate Account. (e) Notwithstanding the foregoing, (i) none of the Master Servicers or the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest or Penalty Charges and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this subsection (ii), and in (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction, if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicers or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as any Companion Loan. (g) None of the related date on which such P&I Advance was madeMaster Servicers or the Trustee shall advance any amount due to be paid by the Swap Counterparty for distribution to the Class A-2FL Certificates.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance the related P&I Advance Date. IfNotwithstanding the foregoing, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of any P&I Advance equal to the CREFC® Intellectual Property Royalty License Fee for the related Mortgage Loans shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account, but shall be deposited into the Certificate Account for payment to CREFC® on such Distribution Date. The Master Servicer or the Trustee, as applicable, shall provide the applicable Non-Serviced Master Servicer and Non-Serviced Trustee written notice of making a required P&I Advance hereunder within two (2) Business Days of making such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerAdvance. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect to any Distribution Date and each Mortgage Loan shall be equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, that were due on the Mortgage Loans (including, without limitation, Balloon including any Non-Serviced Mortgage Loans delinquent as to their respective Balloon PaymentsLoan) and any REO Loans for Loan (other than any Distribution portion of an REO Loan related to a Companion Loan) during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date shall equal(or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), subject an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (including any Non-Serviced Mortgage Loan) or REO Loan (other than Balloon Payments) and any Assumed Monthly Paymentsportion of an REO Loan related to a Companion Loan), shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, applicable Non-Serviced Master Servicer and Non-Serviced Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within two (2) Business Days of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. (d) As and Serviced Companion Noteholder, except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan (or, in the case of a Non-Serviced Whole Loan, an Appraisal Reduction has been made in accordance with the related Non-Serviced Pooling Agreement and the Master Servicer has notice of such Appraisal Reduction) then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Paying Agent for deposit into the Lower-Tier REMIC Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Paying Agent of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before 2 Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Paying Agent) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Paying Agent shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) the Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists with respect thereto are to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Datedistributed. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionFor the avoidance of doubt, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, or the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by sole discretion provided in this Agreement to determine that any other information that the Master Servicer future P&I Advance or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such outstanding P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to the terms of this AgreementSection 3.05(a), the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and pay the Trustee shall each and itself (in that order of priority) as the case may be entitled to receive out of any amounts then on deposit in the Certificate Account, interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges or prepayment premiums and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this clause (ii), and in no event shall interest accrue in accordance with this Section 4.03(d(y) on any P&I Advance a fraction, expressed as a percentage, the numerator of which is equal to which the corresponding Late Collection had been received as Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related date Appraisal Reduction, if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on which such P&I Advance was madethe Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date.

P&I Advances. (a) On or before 1:00 p.m., p.m. (New York City time, ) on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall shall, subject to Section 4.03(c), either (i) remit from its own funds to the Certificate Administrator for deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made by the Master Servicer in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Collection Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make such P&I Advances, or (iii) make such P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, made by the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I AdvancesServicer. Any amounts held in the Certificate Collection Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Collection Account on or before prior to the next succeeding Determination Master Servicer Remittance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or and interest in respect of which such P&I Advances were made). If, as of 1:00 p.m., 3:30 p.m. (New York City time, ) on any Master Servicer Remittance P&I Advance Date, the Master Servicer shall not have made any P&I Advance required to be made by it on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Certificate Administrator and the Trustee the requisite Officer's ’s Certificate and other documentation related to a determination of nonrecoverability of a P&I AdvanceAdvance pursuant to Section 4.03(c)) or shall not have remitted any portion of the Master Servicer Remittance Amount required to be remitted by the Master Servicer on such date, then the Trustee Certificate Administrator shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____at facsimile number: (000) ____000-______ (or such alternative number provided by the Master Servicer to the Trustee in writing0000) and by telephone (at telephone no. (____000) ___000-____ (or such alternative number provided by the Master Servicer to the Trustee in writing0000) as soon as possible, but in any event before 3:00 p.m., New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business 4:30 p.m. (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master Servicer. (b) The aggregate amount of P&I Advances to be made in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made.P&I

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Certificate Administrator for deposit into the Distribution Account from its own funds into (x) the Lower Tier REMIC Distribution Account, an amount equal to the aggregate amount of P&I Advances, if any, with respect to the Mortgage Loans to be made in respect of the related Distribution Date, and (y) the U-Haul Self Storage REMIC Distribution Account, an amount equal to the amount of P&I Advances, if any, with respect to the Trust Companion Loan to be made in respect of the related Distribution Date, (iiii)(x) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I AdvancesAdvances with respect to the Mortgage Loans, and (y) apply amounts held in the Certificate Account, for future distribution to the Holders of the Class UHP Certificates in subsequent months in discharge of any such obligation to make P&I Advances with respect to the Trust Companion Loan, or (iii) make P&I Advances in the form of any combination of clauses (ii)(x) and (iiii)(x) or clauses (i)(y) and (ii)(y), as applicable, aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso with respect to the preceding sentence) Mortgage Loans or the Trust Companion Loan, as applicable, shall be appropriately reflected in the Master Servicer's ’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Certificate Administrator of (i) the aggregate amount of P&I Advances (x) with respect to the Mortgage Loans, as and (y) with respect to the Trust Companion Loan, for a Distribution Date and (ii) the amount of 1:00 any Nonrecoverable P&I Advances (x) with respect to the Mortgage Loans and (y) with respect to the Trust Companion Loan, for such Distribution Date, on or before two (2) Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall not have made any P&I Advance required to be made on cured such date pursuant to this Section 4.03(a) failure (and shall not have delivered provided written notice of such cure to the Trustee and the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance)Administrator) by 11:00 a.m., then New York City time, on such Distribution Date. In the Trustee shall provide notice of such failure to a Servicing Officer of event that the Master Servicer by facsimile transmission sent fails to telecopy no. (____) ____-______ (or such alternative number provided by make a required P&I Advance hereunder, the Master Servicer to Certificate Administrator shall notify the Trustee in writing) and of such circumstances by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:30 p.m., New York City time, on such Master Servicer Remittance the related P&I Advance Date. IfNotwithstanding the foregoing, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such any P&I Advances that was required Advance equal to bethe CREFC® Intellectual Property Royalty License Fee for the related Mortgage Loans or the Trust Companion Loan, as applicable, shall not be remitted to the Certificate Administrator for deposit into the Lower-Tier REMIC Distribution Account or U-Haul Self Storage REMIC Distribution Account, as applicable, but was not, made by shall be deposited into the Master Servicer Certificate Account for payment to CREFC® on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDistribution Date. (b) The aggregate Subject to Section 4.03(c) and Section 4.03(e) below, the amount of P&I Advances to be made in by the Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan or the Trust Companion Loan, as applicable, shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees) other than Balloon Payments, subject that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the Master Servicer) and (ii) with respect to each Mortgage Loan or the Trust Companion Loan, as applicable, as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan (other than any portion of an REO Loan related to a Companion Loan) as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments the Master Servicer to make such P&I Advances is mandatory, and with respect to any Mortgage Loan (including any Non-Serviced Mortgage Loan), Trust Companion Loan or REO Loan (other than Balloon Payments) and any Assumed Monthly Paymentsportion of an REO Loan related to a Companion Loan), shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to each Non-Serviced Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, will be required to make its determination (based on information provided by the Trustee, Non-Serviced Master Servicer and Non-Serviced Special Servicer) that it has made a P&I Advance on such Non-Serviced Mortgage Loan that is a Nonrecoverable P&I Advance or that any proposed P&I AdvanceAdvance would, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in Advance with respect to such Non-Serviced Mortgage Loan independently of any event, in the case of a proposed P&I Advance determination made by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the applicable Non-Serviced Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the applicable Non-Serviced Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate under the nonrecoverability applicable Non-Serviced Pooling Agreement in respect of the related Non-Serviced Companion Loan. If the Master Servicer or Special Servicer determines that a proposed P&I Advance with respect to a Non-Serviced Mortgage Loan, if made, or any outstanding P&I Advance with respect to a Non-Serviced Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, obtain an Appraisal for the Master Servicer shall provide the applicable Non-Serviced Master Servicer, written notice of such purpose at the expense determination within two (2) Business Days of the Trustdate of such determination. The Trustee shall be entitled If the Master Servicer receives written notice from the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, that either has determined in accordance with the applicable Non-Serviced Pooling Agreement with respect to rely on a Non-Serviced Companion Loan, that any determination of nonrecoverability proposed advance under the applicable Non-Serviced Pooling Agreement that may have been made by is similar to a P&I Advance would be, or any outstanding advance under such Non-Serviced Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the Master Servicer or the Special Servicer Trustee may, based upon such determination, determine that any P&I Advance previously made or proposed to be made with respect to the related Non-Serviced Mortgage Loan, will be a particular Nonrecoverable P&I Advance. Thereafter, in either case, the Master Servicer shall not be required to make any additional P&I Advances with respect to the related Non-Serviced Mortgage Loan unless and until the Master Servicer or the Trustee, as the case may be, determines that any such additional P&I Advances with respect to the related Non-Serviced Mortgage Loan would not be a Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the related Non-Serviced Master Servicer or the related Non-Serviced Special Servicer, as the case may be, or otherwise. For the avoidance of doubt, the Master Servicer or the Trustee, as the case may be, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) In connection with the recovery of any P&I Advance out of the Certificate Account, pursuant to Section 3.05(a), the Master Servicer shall be entitled to rely pay the Trustee and itself (in that order of priority) as the case may be, out of any amounts then on deposit in the Certificate Account (but in no event from any determination of nonrecoverability that may have been made by the Special Servicer with respect funds allocable to a particular P&I Advance. Serviced Companion Noteholder (d) As and or the Trust Companion Loan (unless related thereto), except to the extent permitted by Section 3.05(apursuant to the terms of the related Intercreditor Agreement), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (orfrom the date made to but not including the date of reimbursement; provided, in the case of Advance Interest payable to the Master Servicerhowever, if earlier, until the Late Collection of the delinquent principal and/or that no interest in respect of which such will accrue on any P&I Advance was (i) made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in with respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was to a Specially Serviced Mortgage Loan or an REO the Trust Companion Loan; and second, at any time coinciding with or following as applicable, until after the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans related Due Date has passed and any REO Properties applicable grace period has expired or (ii) if the related Monthly Payment is received after the Determination Date but on deposit in the Certificate Account. As and or prior to the extent provided by Section 3.05(a), the related P&I Advance Date. The Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicer nor the Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest, late payment charges, prepayment premiums, Balloon Payment or any P&I Advance with respect to any Companion Loan and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan or the Trust Companion Loan, as applicable, (or, in the case of a Non-Serviced Whole Loan, an Appraisal Reduction has been made in accordance with the related Non-Serviced Pooling Agreement and the Master Servicer has notice of such Appraisal Reduction) then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan or the Trust Companion Loan, as applicable, for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan or the Trust Companion Loan, as applicable, for such Distribution Date without regard to this clause (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan or the Trust Companion Loan, as applicable, immediately prior to such Distribution Date, net of the related Appraisal Reduction (or, in the case of a Serviced Whole Loan, the portion of such Appraisal Reduction allocated to the related Mortgage Loan, or, in the case of the U-Haul Self Storage Whole Loan, the portion of any Appraisal Reduction allocated to the Trust Companion Loan), if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan or the Trust Companion Loan, as applicable, immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (f) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicer or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) remit to the Paying Agent for deposit into the Lower-Tier Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfThe Master Servicer shall notify the Paying Agent of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before 2 Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer Trustee shall not have made any make such P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer 7.05 by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m.noon, New York City time, on such Master Servicer Remittance Date. If, after such notice, the Trustee does not receive the full amount of such P&I Advances by the close of business (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master Servicer. (b) The aggregate amount of P&I Advances to be made in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and unless the Master Servicer shall be entitled to rely on any determination have cured such failure (and provided written notice of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and such cure to the extent permitted by Section 3.05(a), the Master Servicer Trustee and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own fundsPaying Agent) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was made.11:00 a.m.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the applicable Master Servicer shall either (i) remit to the Paying Agent for deposit into the Lower-Tier Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the its Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the applicable Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the applicable Master Servicer's records and replaced by the such Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfEach Master Servicer shall notify the Paying Agent of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before 2 Business Days prior to such Distribution Date. If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer Trustee shall not have made any make such P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer 7.05 by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m.noon, New York City time, on the related Distribution Date, unless such Master Servicer Remittance shall have cured such failure (and provided written notice of such cure to the Trustee and the Paying Agent) by 11:00 a.m. on such Distribution Date. If, after such noticeIn the event that any Master Servicer fails to make a required P&I Advance hereunder, the Paying Agent shall notify the Trustee does not receive the full amount of such P&I Advances circumstances by the close of business 4:30 p.m. (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Sections 4.03(c) and (e) below, the amount of P&I Advances to be made in by any Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees, subject and in the case of the 599 Lexington Avenue Mortgage Loan and the AmeriCold Portfolio Mortgage Xxxx, xxx xxxxxxxxxe servicing fees payable under this Agreement) other than Balloon Payments, that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (or not advanced by any Sub-Servicer on behalf of the applicable Master Servicer) and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the end of the related Due Period (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) each Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, in with respect thereof on their respective Due Dates during the related Collection Period and that were not paid by or on behalf of the related Mortgagors or otherwise collected as of the close of business on the last day of the related Collection Period; provided that, if an Appraisal Reduction Amount exists thereto are to be distributed. No P&I Advances shall be made with respect to any Required Appraisal a Companion Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Date. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In additionWith respect to the 599 Lexington Avenue Mortgage Loan, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the applicable Master Servicer or, if applicable, the Trustee, will xx xxxxxxxx xx xxxx its determination that it has made a P&I Advance on such 599 Lexington Avenue Mortgage Loan that is a Nonrecoverable Advance or xxxx xxx xxxxxxxx X&I Advance would, if made, constitute a Nonrecoverable Advance with respect to such 599 Lexington Avenue Mortgage Loan independently of any determination mxxx xx xxx 000 Xxxxxgton Avenue Master Servicer or the 599 Lexington Avenue Speciax Xxxxxxxx, xx xxxxxcable, under the 2007-LDX00 Xxxxxxx Xxxxxxxxt in respect of the related 599 Lexington Avxxxx Xxxxxxxxx Xxxns, and the 599 Lexington Avenue Mastxx Xxxxxxxx xx xxx 099 Lexington Avenue Speciax Xxxxxxxx, xx xxxxxcable, shall make its owx xxxxxxxxxxxxx xxxx it has made a P&I Advance that is a Nonrecoverable Advance (as defined in the 2007-LDP10 Pooling Agreement) or that any proposed P&I Advance, if made, xxxxx xxxxxxxxxx a Nonrecoverable Advance (as defined in the 2007-LDP10 Pooling Agreement) with respect to the 599 Lexington Avenue Xxxxxxxxx Xxxxx xx accordance with the 2007-LDP10 Xxxxxxx Xxxxxxxxx. Xf the applicable Master Servicer or Specxxx Xxxxxxxx xxxxxmines that a proposed P&I Advance with respect to a 599 Lexington Avenue Mortgage Loan, if made, or any outstanding P&I Advxxxx xxxx xxxxxxx xx a 599 Lexington Avenue Mortgage Loan previously made, would be, or is, as xxxxxxxxxx, x Xxxxxcoverable Advance, the Master Servicer shall provide the 599 Lexington Avenue Master Servicer, written notice of such determinatxxx xxxxxx xxx Xxxxxess Day of the date of such determination. If the applicable Master Servicer receives written notice from the 599 Lexington Avenue Master Servicer or the 599 Lexington Avenue Speciax Xxxxxxxx, xx xxxxxcable, that it has deterxxxxx, xx xxxxxx x xetermination of non-recoverability under the 2007-LDP10 Pooling Agreement, with respect to the 599 Lexington Avenue Xxxxxxxxx Xxxxx, xhat any proposed advance under txx 0000-XXX00 Xxxxxxg Agreement that is similar to a P&I Advance would be, xx xxx xxxxxxxxxxg advance under such 2007-LDP10 Pooling Agreement that is similar to a P&I Advance is, a nonxxxxxxxxxxx xxxxxxe, then the applicable Master Servicer or the Trustee, may, based upon such determination by the 599 Lexington Avenue Master Servicer or the 599 Lexington Avenue Speciax Xxxxxxxx, xx xxxxxcable, determine that anx X&X Xxxxxxx xxxxxxusly made or proposed to be made with respect to the related 599 Lexington Avenue Mortgage Loan, will be a Nonrecoverable P&I Advancx, xxx xxxxxxxxxx xxall not be required to make any additional P&I Advances with respect to the related 599 Lexington Avenue Mortgage Loan unless and until the applicable Mastxx Xxxxxxxx xx xxx Xrustee, as applicable, determines that any such additional P&I Advances with respect to the related 599 Lexington Avenue Mortgage Loan would not be a Nonrecoverable P&I Adxxxxx, xxxxx xxxxxxxnation may be as a result of consultation with the 599 Lexington Avenue Master Servicer or the 599 Lexington Avenue Speciax Xxxxxxxx, xx xxxxxcable, or otherwise. For xxx xxxxxxxxx xx xxubt, the applicable Master Servicer or the Trustee, as applicable, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (d) With respect to each AmeriCold Portfolio Mortgage Loan, the applicable Master Servicer will be required to make its determination that it has made a P&I Advance on such AmeriCold Portfolio Mortgage Loan that is a Nonrecoverable Advance or that any proposed P&I Advance would, if made, constitute a Nonrecoverable Advance with respect to such AmeriCold Portfolio Mortgage Loan independently of any determination made by the AmeriCold Portfolio Master Servicer or the AmeriCold Portfolio Special Servicer, as applicable, under the 2007-CIBC18 Pooling Agreement in respect of the related AmeriCold Portfolio Companion Loans, and the AmeriCold Portfolio Master Servicer or the AmeriCold Portfolio Special Servicer, as applicable, shall make its own determination that it has made a P&I Advance that is a Nonrecoverable Advance (as defined in the 2007-CIBC18 Pooling Agreement) or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly Advance (and, in any event, as defined in the case of 2007-CIBC18 Pooling Agreement) with respect to the AmeriCold Portfolio Companion Loans in accordance with the 2007-CIBC18 Pooling Agreement. If the applicable Master Servicer or Special Servicer determines that a proposed P&I Advance by with respect to a AmeriCold Portfolio Mortgage Loan, if made, or any outstanding P&I Advance with respect to a AmeriCold Portfolio Mortgage Loan previously made, would be, or is, as applicable, a Nonrecoverable Advance, the applicable Master Servicer shall provide the AmeriCold Portfolio Master Servicer, no less than 5 written notice of such determination within one Business Days prior to Day of the related date of such determination. If the applicable Master Servicer Remittance Date) to receives written notice from the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the AmeriCold Portfolio Master Servicer or the AmeriCold Portfolio Special Servicer may have obtained and Servicer, as applicable, that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its it has determined, by making a determination of non-recoverability under the 2007-CIBC18 Pooling Agreement, with respect to the AmeriCold Portfolio Companion Loans, that such any proposed advance under the 2007-CIBC18 Pooling Agreement that is similar to a P&I Advance would be nonrecoverable. If be, or any outstanding advance under such an Appraisal shall not have been required and performed pursuant 2007-CIBC18 Pooling Agreement that is similar to a P&I Advance is, a nonrecoverable advance, then the terms of this Agreement, the applicable Master Servicer or the Trustee, may, based upon such determination by the AmeriCold Portfolio Master Servicer or the AmeriCold Portfolio Special Servicer, as the case may beapplicable, may, subject determine that any P&I Advance previously made or proposed to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of be made with respect to the related AmeriCold Portfolio Mortgage Loan, will be a Nonrecoverable P&I Advance, obtain an Appraisal for such purpose at and thereafter shall not be required to make any additional P&I Advances with respect to the expense of related AmeriCold Portfolio Mortgage Loan unless and until the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the applicable Master Servicer or the Special Servicer Trustee, as applicable, determines that any such additional P&I Advances with respect to the related AmeriCold Portfolio Mortgage Loan would not be a particular Nonrecoverable P&I Advance, and which determination may be as a result of consultation with the AmeriCold Portfolio Master Servicer or the AmeriCold Portfolio Special Servicer, as applicable, or otherwise. For the avoidance of doubt, the applicable Master Servicer or the Trustee, as applicable, shall have the sole discretion provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable Advance. (e) In connection with the recovery of any P&I Advance out of the applicable Certificate Account, pursuant to Section 3.05(a), the applicable Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and pay the Trustee shall each and itself (in that order of priority) as the case may be entitled to receive out of any amounts then on deposit in such Certificate Account, interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Due Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is outstanding (or, in received after the case of Advance Interest payable Determination Date but on or prior to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such related P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate AccountDate. As and to the extent provided by Section 3.05(a), the Each Master Servicer shall reimburse itself or and/or the Trustee, as appropriatethe case may be, for any outstanding P&I Advance made thereby Advance, subject to Section 3.19 of this Agreement, as soon as practicable practicably possible after funds available for such purpose are deposited in the its Certificate Account. (f) Notwithstanding the foregoing, (i) neither the Master Servicers nor the Trustee shall make an advance for Yield Maintenance Charges, Default Interest or Penalty Charges and (ii) if an Appraisal Reduction has been made with respect to any Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (x) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this subsection (ii), and in (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction, if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (g) In no event shall interest accrue in accordance with this Section 4.03(d) on any either the Master Servicers or the Trustee be required to make a P&I Advance as with respect to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeany Companion Loan.

P&I Advances. (a) On or before 1:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) apply amounts held in the Certificate Account received after the Determination Date with respect to the related Collection Period or for future distribution to Certificateholders in subsequent months in discharge of its obligation to make P&I Advances, or (ii) if such amounts are insufficient to discharge such obligation, subject to Section 4.03(c) below, remit from its own funds to the Paying Agent for deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, or (iii) . The Master Servicer may also make P&I Advances in the form of any combination of clauses (i) and (ii) above aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or and interest in respect of which such P&I Advances were made). If, as of 1:00 3:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer shall not have deposited in the Distribution Account the Available Distributions Amount for the Next Distribution Date or made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____000) ____000-______ 0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____000) ___000-____ 0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m., New York City time, on such Master Servicer Remittance P&I Advance Date. If, after such notice, If the Trustee does not receive the full amount of such P&I Advances by the close of business (10:00 a.m., New York City time) , on such Master Servicer Remittance the related Distribution Date, then then, subject to Section 4.03(c), (i) unless the Trustee determines that shall, no later than 11:00 a.m., New York City time, on such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall related Distribution Date make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date P&I Advance Date, and (ii) such failure the provisions of Sections 7.01 and 7.02 shall constitute an Event apply. To the extent that the Master Servicer fails to remit funds required to be remitted by it to the Trustee by the close of Default business on the part of Business Day immediately preceding the Distribution Date, the Master Servicer shall be required to compensate the Trustee in an amount agreed upon by the Trustee and the Master Servicer. (b) The aggregate amount of P&I Advances to be made by the Master Servicer or the Trustee in respect of any Distribution Date shall, subject to Section 4.03(c) below, equal the sum of (x) the aggregate the Quarterly Pay Interest Deposits in respect of the Quarterly Pay Loans minus the aggregate amount withdrawn from the Quarterly Pay Interest Reserve Account for such Distribution Date and (y) the aggregate of all Scheduled Payments (other than Balloon Payments) and any Assumed Scheduled Payments, net of related Master Servicing Fees and any related Recovery Fees, due or deemed due, as the case may be, in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were Period, in each case to the extent such amount was not paid by or on behalf of the related Mortgagors Mortgagor or otherwise collected (including received as net income from REO Properties) as of the close of business on the last day related Determination Date; provided, that, (i) if the Periodic Payment on any Mortgage Loan has been reduced in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment granted or agreed to by the Special Servicer pursuant to Section 3.20, or if the final maturity on any Mortgage Loan shall be extended in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment granted or agreed to by the Special Servicer pursuant to Section 3.20, and the Periodic Payment due and owing during the extension period is less than the related Assumed Scheduled Payment, then the Master Servicer shall, as to such Mortgage Loan only, advance only the amount of the Periodic Payment due and owing after taking into account such reduction (net of related Collection PeriodMaster Servicing Fees and any related Recovery Fees) in the event of subsequent delinquencies thereon; provided that, and (ii) if it is determined that an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, with respect to the Distribution Date immediately following the date of such determination and with respect to each subsequent Distribution Date for so long as such Appraisal Reduction Amount exists with respect to such Required Appraisal Loan, the Master Servicer or the Trustee will be required in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance to advance in respect of such Required Appraisal Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) only an amount equal to equal the product of (iA) the amount of the interest portion of such P&I Advance for such Required Appraisal Loan for such Distribution Date that would otherwise be required without regard to this provisoclause (ii), multiplied by (iiB) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution DateMortgage Loan, net of the related such Appraisal Reduction Amount, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution DateMortgage Loan. (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Officers' Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), and the Depositor and on or before the Rating Agenciesrelated P&I Advance Date, setting forth the basis for such determination, together with ( any other information, including Appraisals or, if no such determination is prior Appraisal has been performed pursuant to the liquidation of the related Mortgage Loan or REO Property) this Section 4.03(c), a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, if available, engineers' reports, environmental surveys and further accompanied by any other information similar reports that the Master Servicer or the Special Servicer may have obtained consistent with the Servicing Standard and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the TrustTrust Fund, that support such determination by the Master Servicer. The Trustee shall be entitled to rely rely, conclusively, on any determination of nonrecoverability by the Master Servicer that may a P&I Advance, if made, would be a Nonrecoverable Advance (and with respect to a P&I Advance, the Trustee, as applicable, shall rely on the Master Servicer's determination that the P&I Advance would be a Nonrecoverable Advance if the Trustee determines that it does not have been sufficient time to make such determination); provided, however, that if the Master Servicer has failed to make a P&I Advance for reasons other than a determination by the Master Servicer that such P&I Advance would be Nonrecoverable Advance, the Trustee shall make such Advance within the time periods required by Section 4.03(a) unless the Trustee, in good faith, makes a determination prior to the times specified in Section 4.03(a) that such P&I Advance would be a Nonrecoverable Advance. The Trustee in determining whether or not a P&I Advance previously made is, or a proposed P&I Advance, if made, would be, a Nonrecoverable Advance shall be subject to the standards applicable to the Master Servicer hereunder. (d) Except as set forth herein, in connection with the recovery by the Master Servicer or the Special Servicer with respect Trustee of any P&I Advance out of the Certificate Account pursuant to a particular P&I Advance, and Section (a) the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer pay itself and the Trustee shall each be entitled to receive out of any amounts then on deposit in the Certificate Account, interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is from the date made to but not including the date of reimbursement. The Master Servicer shall reimburse itself and the Trustee for any outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding accordance with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the ) as soon as practicable. The Master Servicer shall reimburse itself or the Trustee, as appropriateapplicable, for any outstanding P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had have been received as of by the related date on which such P&I Advance was madeMaster Servicer.

P&I Advances. (a) On or before 1:00 4:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the applicable Master Servicer shall either (i) remit to the Trustee for deposit into the Lower-Tier Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the its Certificate Account Account, for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, Advances or (iii) make P&I Advances in the form of any combination of (i) and (ii) aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the applicable Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the applicable Master Servicer's records and replaced by the such Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made). IfEach Master Servicer shall notify the Trustee and the Co-Trustee of (i) the aggregate amount of P&I Advances for a Distribution Date and (ii) the amount of any Nonrecoverable P&I Advances for such Distribution Date, as of 1:00 on or before 2 Business Days prior to such Distribution Date. If any Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer Co-Trustee shall not have made any make such P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer 7.05 by facsimile transmission sent to telecopy no. (____) ____-______ (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____) ___-____ (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 p.m.noon, New York City time, on the related Distribution Date, in each case unless such Master Servicer Remittance shall have cured such failure (and provided written notice of such cure to the Trustee and the Co-Trustee) by 11:00 a.m. (New York City Time) on such Distribution Date. If, after such noticeIn the event that any Master Servicer fails to make a required P&I Advance hereunder, the Trustee does not receive shall notify the full amount Co-Trustee of such P&I Advances circumstances by the close of business 4:30 p.m (New York City time) on such Master Servicer Remittance Date, then (i) unless the Trustee determines that such Advance would be a Nonrecoverable related P&I Advance if made, the Trustee shall make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date and (ii) such failure shall constitute an Event of Default on the part of the Master ServicerDate. (b) The aggregate Subject to Sections 4.03(c) and (e) below, the amount of P&I Advances to be made in by any Master Servicer with respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date and each Mortgage Loan that it is responsible for servicing hereunder shall equalbe equal to: (i) the Monthly Payments (net of related Servicing Fees, subject and in the case of the Non-Serviced Mortgage Loans, the applicable servicing fees payable under this Agreement) other than Balloon Payments, that were due during the related Due Period and delinquent as of the close of business on the Business Day preceding the related P&I Advance Date and (ii) with respect to each Mortgage Loan as to which the related Balloon Payment was due during or prior to the related Due Period and was delinquent as of the close of business on the Business Day preceding the related P&I Advance Date (including any REO Loan as to which the Balloon Payment would have been past due), an amount equal to the Assumed Scheduled Payment therefor. Subject to subsection (c) below, the aggregate obligation of all Monthly Payments (other than Balloon Payments) each Master Servicer to make such P&I Advances is mandatory, and with respect to any Assumed Monthly PaymentsMortgage Loan or REO Loan, shall continue until the Distribution Date on which the proceeds, if any, received in each case net connection with a Liquidation Event or the disposition of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed duethe REO Property, as the case may be, with respect thereto are to be distributed. No P&I Advances shall be made with respect to a Companion Loan. (c) Notwithstanding anything herein to the contrary or as set forth in the related Intercreditor Agreement, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. With respect to the 599 Lexington Avenue Mortgage Loan, the Master Servicer will be requirex xx xxxx xxx xxxxxxination that it has made a P&I Advance on the 599 Lexington Avenue Mortgage Loan that is a Nonrecoverable Advance or xxxx xxx xxxxxxxx X&I Advance would, if made, constitute a Nonrecoverable Advance with respect to the 599 Lexington Avenue Mortgage Loan independently of any determination mxxx xx xxx Xxxxx Xxxvicer, under any Other Pooling Agreement in respect thereof of any related 599 Lexington Avenue Pari Passu Companion Loan. Upon making such a detexxxxxxxxx xx xxxxxxxverability (and upon any reversal of such determination), the applicable Master Servicer shall promptly notify in writing (together with supporting evidence for such determination) the 599 Lexington Avenue Pari Passu Companion Loan Holders (and any trustee xx Xxxxx Xxxxxxxx xnder a related Other Pooling and Servicing Agreement, as applicable). With respect to the Skyline Portfolio Mortgage Loan and the Solana Mortgage Loan, the Master Servicer will be required to make its determination that it has made a P&I Advance on their respective Due Dates during the subject Mortgage Loan that is a Nonrecoverable Advance or that any proposed P&I Advance would, if made, constitute a Nonrecoverable Advance with respect to the subject Mortgage Loan. Upon any such determination, the Master Servicer shall provide written notice of such determination within 2 Business Days to each Other Servicer with respect to any Skyline Portfolio Pari Passu Companion Loan or Solana Pari Passu Companion Loan, as applicable. Once such notice has been delivered or the Master Servicer has received notice from any Other Servicer with respect to any Skyline Portfolio Pari Passu Companion Loan or Solana Pari Passu Companion Loan, as applicable, of a nonrecoverability determination made by such Other Servicer, no party to this Agreement shall make any additional P&I Advances with respect to the related Collection Period Mortgage Loan until the Master Servicer has consulted with each related master servicer under any Other Pooling and Servicing Agreement with respect to such Whole Loan and they agree that were circumstances with respect to the related Whole Loan have changed such that a proposed future P&I Advance would not paid be a Non-Recoverable Advance. Notwithstanding the foregoing, the Master Servicer shall not be required to abide by any determination of non-recoverability by any Other Servicer with respect to the Skyline Portfolio Whole Loan or on behalf the Solana Whole Loan if the Trustee or the Master Servicer has received notice from S&P, Fitch or Moody's that such Other Servicer no longer has the approval of S&P, Fitxx xx Xoody's (and the notifying rating agency has rated the securities issuex xxxxx the related Other Pooling and Servicing Agreement). (d) In connection with the recovery of any P&I Advance out of the related Mortgagors applicable Certificate Account, pursuant to Section 3.05(a), the applicable Master Servicer shall be entitled to pay the Co-Trustee and itself or otherwise collected the other Master Servicer (if amounts in such other Master Servicer's Certificate Account are not sufficient for such reimbursement) (in that order of priority) as the case may be out of any amounts then on deposit in such Certificate Account (but in no event from any funds payable or allocable to a holder of any Serviced Securitized Companion Loan), interest at the close of business Reimbursement Rate in effect from time to time, accrued on the last day amount of such P&I Advance from the date made to but not including the date of reimbursement; provided, however, that no interest will accrue on any P&I Advance (i) made with respect to a Mortgage Loan until after the related Collection Period; provided thatDue Date has passed and any applicable grace period has expired or (ii) if the related Monthly Payment is received after the Determination Date but on or prior to the related P&I Advance Date. Each Master Servicer shall reimburse itself or the other Master Servicer (if amounts in such other Master Servicer's Certificate Account are not sufficient for such reimbursement) and the Co-Trustee, as the case may be, for any outstanding P&I Advance, subject to Section 3.19 of this Agreement, as soon as practicably possible after funds available for such purpose are deposited in its Certificate Account. (e) Notwithstanding the foregoing, (i) neither the Master Servicers nor the Co-Trustee shall make an advance for Excess Interest, Yield Maintenance Charges, Default Interest or Penalty Charges and (ii) if an Appraisal Reduction Amount exists has been made with respect to any Required Appraisal Loan, then, Mortgage Loan then in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Required Appraisal Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (ix) the amount of the interest portion of such P&I Advance for such Required Appraisal Mortgage Loan for such Distribution Date without regard to this proviso, multiplied by subsection (ii), and (y) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Required Appraisal Mortgage Loan immediately prior to such Distribution Date, net of the related Appraisal Reduction AmountReduction, if any, and the denominator of which is equal to the Stated Principal Balance of such Required Appraisal Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the Assumed Scheduled Payment for the related Distribution Date. (cf) Notwithstanding anything herein to In no event shall either the contrary, no P&I Advance shall Master Servicers or the Co-Trustee be required to be made hereunder if such make a P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), the Depositor and the Rating Agencies, setting forth the basis for such determination, together with ( such determination is prior to the liquidation of the related Mortgage Loan or REO Property) a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination, and further accompanied by any other information that the Master Servicer or the Special Servicer may have obtained and that supports such determination. The Trustee shall deliver such Officer's Certificate as soon as practicable after its determination that such P&I Advance would be nonrecoverable. If such an Appraisal shall not have been required and performed pursuant to the terms of this Agreement, the Master Servicer or the Special Servicer, as the case may be, may, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I AdvanceCompanion Loan. (dg) As and None of the Master Servicers or the Co-Trustee shall advance any amount due to be paid by the Swap Counterparty for distribution to the extent permitted by Section 3.05(a), the Master Servicer Class A-2SFL Certificates and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, accrued on the amount of each P&I Advance made thereby (out of its own funds) for so long as such P&I Advance is outstanding (or, in the case of Advance Interest payable to the Master Servicer, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its SubClass A-Servicers), and such interest will be paid: first, out of any Default Charges collected on or in respect of the related Mortgage Loan during, and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of general collections on the Mortgage Loans and any REO Properties on deposit in the Certificate Account. As and to the extent provided by Section 3.05(a), the Master Servicer shall reimburse itself or the Trustee, as appropriate, for any P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in the Certificate Account, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been received as of the related date on which such P&I Advance was madeJFL Certificates.

P&I Advances. (a) On or before 1:00 2:00 p.m., New York City time, on each Master Servicer Remittance P&I Advance Date, the Master Servicer shall either (i) apply amounts in the Certificate Account received after the end of the related Collection Period or otherwise held for future distribution to Certificateholders in subsequent months in discharge of its obligation to make P&I Advances or (ii) subject to Section 4.03(c) below, remit from its own funds to the Paying Agent for deposit into the Distribution Account from its own funds an amount equal to the aggregate amount of P&I Advances, if any, to be made in respect of the related Distribution Date, (ii) apply amounts held in the Certificate Account for future distribution to Certificateholders in subsequent months in discharge of any such obligation to make P&I Advances, or (iii) . The Master Servicer may also make P&I Advances in the form of any combination of clauses (i) and (ii) above aggregating the total amount of P&I Advances to be made; provided that if Late Collections of any of the delinquent principal and/or interest in respect of which it is to make P&I Advances on any Master Servicer Remittance Date are then on deposit in the Certificate Account, the Master Servicer shall use such Late Collections (net of any Master Servicing Fees and Workout Fees payable therefrom) to make such P&I Advances. Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances (other than the Late Collections of the delinquent principal and/or interest contemplated by the proviso to the preceding sentence) shall be appropriately reflected in the Master Servicer's records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding Determination Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or and interest in respect of which such P&I Advances were made). If, as of 1:00 3:00 p.m., New York City time, on any Master Servicer Remittance P&I Advance Date, the Master Servicer shall not have made any P&I Advance required to be made on such date pursuant to this Section 4.03(a) (and shall not have delivered to the Trustee the requisite Officer's Certificate and documentation related to a determination of nonrecoverability of a P&I Advance), then the Trustee shall provide notice of such failure to a Servicing Officer of the Master Servicer by facsimile transmission sent to telecopy no. (____000) ____000-______ 0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) and by telephone at telephone no. (____000) ___000-____ 0000 (or such alternative number provided by the Master Servicer to the Trustee in writing) as soon as possible, but in any event before 3:00 4:00 p.m., New York City time, on such Master Servicer Remittance P&I Advance Date. If, after such notice, If the Trustee does not receive the full amount of such P&I Advances by the close of business (10:00 a.m., New York City time) , on such Master Servicer Remittance the related Distribution Date, then then, subject to Section 4.03(c), (i) unless the Trustee determines that shall, no later than 11:00 a.m., New York City time, on such Advance would be a Nonrecoverable P&I Advance if made, the Trustee shall related Distribution Date make the portion of such P&I Advances that was required to be, but was not, made by the Master Servicer on such Master Servicer Remittance Date P&I Advance Date, and (ii) such failure the provisions of Sections 7.01 and 7.02 shall constitute an Event of Default on the part of the Master Servicerapply. (b) The aggregate amount of P&I Advances to be made by the Master Servicer or the Trustee in respect of any Distribution Date shall, subject to Section 4.03(c) below, equal the aggregate of all Periodic Payments (other than Balloon Payments) and any Assumed Scheduled Payments, net of related Servicing Fees due or deemed due, as the case may be, in respect of the Mortgage Loans (including, without limitation, Balloon Mortgage Loans delinquent as to their respective Balloon Payments) and any REO Loans for any Distribution Date shall equal, subject to subsection (c) below, the aggregate of all Monthly Payments (other than Balloon Payments) and any Assumed Monthly Payments, in each case net of related Master Servicing Fees and Workout Fees payable hereunder, that were due or deemed due, as the case may be, in respect thereof on their respective Due Dates during the related Collection Period and that were Period, in each case to the extent such amount was not paid by or on behalf of the related Mortgagors Mortgagor or otherwise collected (including as net income from REO Properties) as of the close of business on the last day related Determination Date; provided, that, (x) if the Periodic Payment on any Mortgage Loan has been reduced in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment granted or agreed to by the Special Servicer pursuant to Section 3.20, or if the final maturity on any Mortgage Loan shall be extended in connection with a bankruptcy or similar proceeding involving the related Mortgagor or a modification, waiver or amendment granted or agreed to by the Special Servicer pursuant to Section 3.20, and the Periodic Payment due and owing during the extension period is less than the related Assumed Scheduled Payment, then the Master Servicer or the Trustee shall, as to such Mortgage Loan only, advance only the amount of the Periodic Payment due and owing after taking into account such reduction (net of related Collection PeriodServicing Fees) in the event of subsequent delinquencies thereon; provided that, and (y) if it is determined that an Appraisal Reduction Amount exists with respect to any Required Appraisal Loan, then, with respect to the Distribution Date immediately following the date of such determination and with respect to each subsequent Distribution Date for so long as such Appraisal Reduction Amount exists with respect to such Required Appraisal Loan, the Master Servicer or the Trustee will be required in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance to advance in respect of such Required Appraisal Mortgage Loan for only an amount equal to the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product sum of (iA) the amount of the interest portion of such the P&I Advance for such Required Appraisal Loan for such Distribution Date that would otherwise be required without regard to this provisoclause (y), multiplied by minus the product of (ii1) a fractionsuch Appraisal Reduction Amount and (2) the per annum Pass-Through Rate (i.e., expressed as a percentagefor any month, one-twelfth of the numerator of which is equal Pass-Through Rate) applicable to the Stated Principal Balance Class of Certificates to which such Required Appraisal Loan immediately prior Reduction Amount is allocated pursuant to such Distribution Date, net Section 4.04(d) and (B) the amount of the related Appraisal Reduction Amount, if any, and principal portion of the denominator of which is equal P&I Advance that would otherwise be required without regard to the Stated Principal Balance of such Required Appraisal Loan immediately prior to such Distribution Datethis clause (y). (c) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. In addition, Nonrecoverable P&I Advances shall be reimbursable pursuant to Section 3.05(a) out of general collections on the Mortgage Pool on deposit in the Certificate Account. The determination by the Master Servicer or, if applicable, the Trustee, that it has made a Nonrecoverable P&I Advance or that any proposed P&I Advance, if made, would constitute a Nonrecoverable P&I Advance, shall be evidenced by an Officer's Officers' Certificate delivered promptly (and, in any event, in the case of a proposed P&I Advance by the Master Servicer, no less than 5 Business Days prior to the related Master Servicer Remittance Date) to the Trustee (or, if applicable, retained thereby), and the Depositor and on or before the Rating Agenciesrelated P&I Advance Date, setting forth the basis for such determination, together with ( such determination is prior to any other information, including Appraisals (the liquidation cost of which may be paid out of the related Mortgage Loan or REO PropertyCertificate Account pursuant to Section 3.05(a)) (or, if no such Appraisal has been performed pursuant to this Section 4.03(c), a copy of an Appraisal of the related Mortgaged Property or REO Property, as the case may be, which shall have been performed within the twelve months preceding such determination), related Mortgagor operating statements and further accompanied by financial statements, budgets and rent rolls of the related Mortgaged Properties, engineers' reports, environmental surveys and any other information similar reports that the Master Servicer or may have obtained consistent with the Servicing Standard and at the expense of the Trust Fund, that support such determination by the Master Servicer. On the fourth Business Day before each Distribution Date, the Special Servicer may have obtained and that supports shall report to the Master Servicer the Special Servicer's determination as to whether each P&I Advance made with respect to any previous Distribution Date or required to be made with respect to such Distribution Date with respect to any Specially Serviced Mortgage Loan or REO Loan is a Nonrecoverable P&I Advance. The Master Servicer shall be entitled to conclusively rely on such determination. The Trustee shall deliver be entitled to rely, conclusively, on any determination by the Master Servicer that a P&I Advance, if made, would be a Nonrecoverable Advance (and with respect to a P&I Advance, the Trustee, as applicable, shall rely on the Master Servicer's determination that the P&I Advance would be a Nonrecoverable Advance if the Trustee determines that it does not have sufficient time to make such Officer's Certificate as soon as practicable after its determination); provided, however, that if the Master Servicer has failed to make a P&I Advance for reasons other than a determination by the Master Servicer that such P&I Advance would be nonrecoverable. If Nonrecoverable Advance, the Trustee shall make such an Appraisal shall not have been Advance within the time periods required and performed pursuant by Section 4.03(a) unless the Trustee, in good faith, makes a determination prior to the terms of this Agreementtimes specified in Section 4.03(a) that such P&I Advance would be a Nonrecoverable Advance. The Trustee in determining whether or not a P&I Advance previously made is, or a proposed P&I Advance, if made, would be, a Nonrecoverable Advance shall be subject to the standards applicable to the Master Servicer hereunder. (d) In connection with the recovery by the Master Servicer or the Special ServicerTrustee of any P&I Advance out of the Certificate Account pursuant to Section 3.05(a), subject to the next sentence, the Master Servicer shall be entitled to pay itself or the Trustee, as the case may be, mayout of any amounts then on deposit in the Certificate Account, subject to its reasonable and good faith determination that such Appraisal will demonstrate the nonrecoverability of the related Advance, obtain an Appraisal for such purpose at the expense of the Trust. The Trustee shall be entitled to rely on any determination of nonrecoverability that may have been made by the Master Servicer or the Special Servicer with respect to a particular P&I Advance, and the Master Servicer shall be entitled to rely on any determination of nonrecoverability that may have been made by the Special Servicer with respect to a particular P&I Advance. (d) As and to the extent permitted by Section 3.05(a), the Master Servicer and the Trustee shall each be entitled to receive interest at the Reimbursement Rate in effect from time to time, compounded annually, accrued on the amount of each such P&I Advance (to the extent made thereby (out of with its own funds) for so long as from the date made to but not including the date of reimbursement such P&I Advance is outstanding (orinterest to be payable, in the case of Advance Interest payable subject to the Master Servicerterms of a Co-Lender Agreement with respect to the related Loan Pair, if earlier, until the Late Collection of the delinquent principal and/or interest in respect of which such P&I Advance was made has been received by the Master Servicer or any of its Sub-Servicers), and such interest will be paid: first, first out of any Default Charges collected late payment charges and Penalty Interest received on or in respect of the related Mortgage Loan during, or REO Property during the Collection Period in which such reimbursement is made and allocable to, the period, if any, that it was a Specially Serviced Mortgage Loan or an REO Loan; and second, at any time coinciding with or following the reimbursement of such P&I Advance, out of then from general collections on the Mortgage Loans and any REO Properties then on deposit in the Certificate Account. As and ; provided, however, that no interest shall accrue on any P&I Advance made with respect to a Mortgage Loan if the related Periodic Payment is received prior to the due date of such Mortgage Loan or the expiration of any applicable grace period. To the extent provided by Section 3.05(a)the Master Servicer receives late payment charges or Penalty Interest on a Mortgage Loan for which interest on Advances related to such Mortgage Loan has been paid from general collections on deposit in the Certificate Account during the preceding 12-month period and not previously reimbursed, the Master Servicer shall deposit in the Certificate Account, on or prior to the P&I Advance Date following the collection of such late payment charges or Penalty Interest, an amount equal to the lesser of (i) the amount of late payment charges or Penalty Interest received on such Mortgage Loan or (ii) the amount of interest paid to the Master Servicer on the related P&I Advance for such Mortgage Loan during such 12-month period for which the Trust Fund has not been previously reimbursed. The Master Servicer shall reimburse itself or the Trustee, as appropriateapplicable, for any outstanding P&I Advance made thereby as soon as practicable after funds available for such purpose are deposited in have been received by the Certificate AccountMaster Servicer, and in no event shall interest accrue in accordance with this Section 4.03(d) on any P&I Advance as to which the corresponding Late Collection had been was received as of by the Master Servicer on or prior to the related date on which such P&I Advance was madeDate. (e) In no event shall the Master Servicer or the Trustee make a P&I Advance with respect to any Companion Loan.