NOTEStrategic Storage Trust, Inc. • February 13th, 2009 • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned, SSTI 2526 Ritchie ST, LLC, a Delaware limited liability company (herein, “Crescent Maker”), SSTI 5970 Centennial CIR, LLC, a Delaware limited liability company (herein, “Florence Maker”), and SSTI 281 Richwood RD, LLC, a Delaware limited liability company (herein, “Walton Maker”, and together with Crescent Maker and Florence Maker, hereafter collectively referred to as “Maker”), whose address is 111 Corporate Drive, Suite 210, Ladera Ranch, California 92694, Attention: H. Michael Schwartz, hereby promises and agrees to pay to the order of Crescent Springs Storage, L.L.C., a Kentucky limited liability corporation, having its principal office at 281 Richwood Road, Walton, Kentucky 41094, Attention: Greg Schrand (“Lender”), the aggregate principal sum of Eight Hundred Thousand Dollars ($800,000.00), together with interest thereon as hereinafter provided, in lawful money of the United States of America, on or before February 12, 2014.
CROSS COLLATERALIZATION AND CROSS DEFAULT AGREEMENTAnd Cross Default Agreement • February 13th, 2009 • Strategic Storage Trust, Inc. • Real estate investment trusts
In order to induce Garrard Street Enterprises, LLC, a Kentucky limited liability company (“Garrard”), whose address is 281 Richwood Road, Walton, Boone County, Kentucky 41094, to lend the sum of Three Million Seven Hundred Thousand Dollars ($3,700,000.00) (“Garrard Note”) to SSTI 2526 Ritchie ST, LLC, a Delaware limited liability company (herein, “Crescent Borrower”), SSTI 5970 Centennial CIR, LLC, a Delaware limited liability company (herein, “Florence Borrower”), and SSTI 281 Richwood RD, LLC, a Delaware limited liability company (herein, “Walton Borrower”, and together with Crescent Borrower and Florence Borrower, hereafter collectively referred to as “Borrower”), whose mailing address is 111 Corporate Drive, Suite 120, Ladera Ranch, California 92694; and in order to induce Crescent Springs Storage, L.L.C., a Kentucky limited liability company (“Crescent”; both Garrard and Crescent are hereinafter referred to collectively as “Lender”), whose address is 281 Richwood Road, Walton, Boo
