2005 Uses in Taxes and Assessments Clause

Taxes and Assessments from Lease

THIS LEASE (Lease) is made as of this 29th day of June, 2005, and is effective as of May 1, 2005, between AMSDELL AND AMSDELL, an Ohio general partnership (Landlord) and U-Store-lt, L.P., a Delaware Limited Partnership (Tenant).

Taxes and Assessments. The Fixed Minimum Rent payable hereunder includes Tenants Proportionate Share of all real estate taxes or assessments, both general and special (collectively, Taxes), levied upon the Property during the calendar year 2005 (Base Year). In the event that the amount of Taxes payable during the term of this Lease exceed the amount of Taxes payable during the Base Year, then in such event Tenant shall pay to Landlord in equal monthly installments, in advance with payments of fixed minimum rent, an amount equal to one-twelfth (1/12) of the estimated amount of Tenants Proportionate Share of Taxes. Within thirty (30) days after the actual amount of Tenants Proportionate Share of Taxes has been determined by Landlord, based on the actual Taxes, Landlord shall notify Tenant and Tenant shall pay to Landlord or Landlord shall credit to Tenants account for future payments of Taxes, as the case may be, the difference between the estimated amount of Tenants Proportionate Share of Taxes theretofore paid to Landlord for such year and the actual amount of Tenants Proportionate Share of Taxes for such year. In addition to Tenants Proportionate Share of Taxes, Tenant shall also reimburse Landlord, immediately upon demand, for the full amount of any increases in Taxes resulting from alterations or improvements to the Premises made by or for the benefit of Tenant. If any governmental taxing authority acting under any present or future law, ordinance or regulation shall levy, assess or impose a tax, excise and/or assessment (other than an income or franchise tax) upon Tenant for the rental payable by Tenant to Landlord pursuant to this Lease, either by way of substitution for or in addition to any existing tax on land, buildings or otherwise, then Tenant shall be responsible for and shall pay such tax, excise and/or assessment, or shall reimburse Landlord for the cost thereof, as the case may be, immediately upon demand. The amount payable by Tenant pursuant to this Section 2.4 for the year in which this Lease commences or terminates shall be prorated based on the ratio of that portion of the term of this Lease to the applicable tax year. If the amount of Taxes payable by Landlord with respect to Landlords Property for the Base Year includes any special assessments (in any case, Assessment) that expire at any time during the term of this Lease, then, at such time as the applicable portion of the Assessment is paid in full, the amount of Taxes for the Base Year shall be recalculated to exclude the amount of the applicable portion of the Assessment that was paid in full. Commencing as of the year of such recalculation of Taxes for the Base Year and continuing for each and every year or fraction thereof during the term of this Lease following the new calculation, or until such time as Taxes for the Base Year are again recalculated, Tenant shall pay to Landlord Tenants Proportionate Share of any increase in Taxes based upon the adjusted Base Year amount. For purposes of this Section 2.4 and Sections 2.2 and 2.5 of this Lease, Tenants Proportionate Share means the percentage determined by dividing the number of square feet of floor area in the Premises by the total square feet of net leasable floor area from time to time contained in the buildings on Landlords Property. As of the date hereof, Tenants Proportionate Share 12.5%. Tenant shall also pay to the applicable taxing authority when due any taxes or assessments levied against the personal property or trade fixtures brought to or installed at the Premises by or on behalf of Tenant.

Taxes and Assessments from Lease

THIS LEASE (Lease) is made as of this 29th day of March, 2005 and is effective as of January 1, 2005, between AMSDELL AND AMSDELL, an Ohio general partnership (Landlord) and U-STORE-IT, L.P., a Delaware limited partnership (Tenant).

Taxes and Assessments. The Fixed Minimum Rent payable hereunder includes Tenants Proportionate Share of all real estate taxes or assessments, both general and special (collectively, Taxes), levied upon the Property during the calendar year 2005 (Base Year) based upon an amount of One and 50/100ths Dollars ($1.50) per square foot per annum. Subject to the limitation hereinafter provided, in the event that the amount of Taxes payable during the term of this Lease exceed the amount of Taxes payable during the Base Year, then in such event Tenant shall pay to Landlord in equal monthly installments, in advance with payments of fixed minimum rent, an amount equal to one-twelfth (1/12) of the estimated amount of Tenants Proportionate Share of Taxes. Within thirty (30) days after the actual amount of Tenants Proportionate Share of Taxes has been determined by Landlord, based on the actual Taxes, Landlord shall notify Tenant and Tenant shall pay to Landlord or Landlord shall credit to Tenants account for future payments of Taxes, as the case may be, the difference between the estimated amount of Tenants Proportionate Share of Taxes theretofore paid to Landlord for such year and the actual amount of Tenants Proportionate Share of Taxes for such year. Notwithstanding the foregoing, if Landlords costs and expenses associated with Taxes exceed the amount payable during the Base Year, in no event shall Tenants Proportionate Share of Taxes be increased during any Lease Year more than one percent (1%) per annum. The amount payable by Tenant pursuant to this Section 2.4 for the year in which this Lease commences or terminates shall be prorated based on the ratio of that portion of the term of this Lease to the applicable tax year. For purposes of this Section 2.4 and Sections 2.2 and 2.5 of this Lease, Tenants Proportionate Share means the percentage determined by dividing the number of square feet of floor area in the Premises by the total square feet of net leasable floor area from time to time contained in the buildings on Landlords Property. As of the date hereof, Tenants Proportionate Share of (i) the Parkview Building is 46.62% and (ii) Building IV is 14.29%. Tenant shall also pay to the applicable taxing authority when due any taxes or assessments levied against the personal property or trade fixtures brought to or installed at the Premises by or on behalf of Tenant.

Taxes and Assessments from Master Lease

THIS SUBLEASE (hereinafter referred to as the Sublease) is made and entered into between Sublandlord and Subtenant as of the Lease Reference Date. Pursuant to this Sublease, Sublandlord leases to Subtenant and Subtenant leases from Sublandlord the Premises in the Building as set forth and described on the Key Provisions Summary. The Key Provisions Summary, including all terms defined thereon, is incorporated as part of this Sublease.

Taxes and Assessments. All items defined as Taxes and Assessments as described in Lease Addendum No. 1 to the Master Lease.