CO-LENDER AGREEMENT Dated as of October 17, 2025 by and between CITI REAL ESTATE FUNDING INC. (Initial Note A-1 Holder) and MORGAN STANLEY BANK, N.A. (Initial Note A-2 Holder)Co-Lender Agreement • October 30th, 2025 • Benchmark 2025-V18 Mortgage Trust • Asset-backed securities • New York
Contract Type FiledOctober 30th, 2025 Company Industry JurisdictionTHIS CO-LENDER AGREEMENT (this “Agreement”), dated as of October 17, 2025 is by and between CITI REAL ESTATE FUNDING INC. (“CREFI” and together with its successors and assigns in interest, in its capacity as initial owner of the Note A-1, the “Initial Note A-1 Holder”, and in its capacity as the initial agent, the “Initial Agent”) and MORGAN STANLEY BANK, N.A. (“MSBNA” and, together with its successors and assigns in interest, in its capacity as initial owner of the Note A-2, the “Initial Note A-2 Holder” and, together with the Initial Note A-1 Holder, the “Initial Note Holders”).
CO-LENDER AGREEMENT Dated as of September 11, 2025 by and between RREF V – D DLI WF, LLC (Initial Note A-1 Holder) and MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC (Initial Note A-2 Holder) 125TH & LENOXCo-Lender Agreement • October 30th, 2025 • Morgan Stanley Bank of America Merrill Lynch Trust 2025-5c2 • Asset-backed securities • New York
Contract Type FiledOctober 30th, 2025 Company Industry JurisdictionTHIS CO-LENDER AGREEMENT (this “Agreement”), dated as of September 11, 2025, by and between RREF V – D DLI WF, LLC, a Delaware limited liability company (“Rialto” and together with its successors and assigns in interest, in its capacity as initial owner of the Note A-1, the “Initial Note A-1 Holder”, and in its capacity as the initial agent, the “Initial Agent”), and Morgan Stanley Mortgage Capital Holdings LLC, a New York limited liability company (“Morgan Stanley” and together with its successors and assigns in interest, in its capacity as initial owner of the Note A-2, the “Initial Note A-2 Holder” and, together with the Initial Note A-1 Holder, the “Initial Note Holders”).