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Cross Collateralization Agreement

This is an actual contract by Strategic Storage Trust,.

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Sectors: Real Estate
Effective Date: February 12, 2009
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CROSS COLLATERALIZATION
AND
CROSS DEFAULT AGREEMENT


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, Boone County, Kentucky 41094, to lend the sum of Eight Hundred Thousand Dollars ($800,000.00) (" Crescent Note" ) to Borrower; Lender and Borrower now hereby agree as follows: 1. A default under (i) the Garrard Note, (ii) that certain Mortgage, Security Agreement and Financing Statement (the " Walton Mortgage" ) executed
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