Common use of Article 8 Opt-In Clause in Contracts

Article 8 Opt-In. The Partnership hereby irrevocably elects that all Series A Preferred Units shall be “securities” governed by Article 8 of the Uniform Commercial Code as in effect in the State of Utah and each other applicable jurisdiction. The ownership of Series A Preferred Units shall be evidenced by certificates. Each certificate evidencing Series A Preferred Units shall bear the following legend: “This certificate evidences an interest in Extra Space Storage LP and shall be a security governed by Article 8 of the Uniform Commercial Code as in effect in the State of Utah and, to the extent permitted by applicable law, each other applicable jurisdiction.” This provision shall not be amended, and any purported amendment to this provision shall not take effect, until all outstanding certificates evidencing Series A Preferred Units have been surrendered for cancellation.

Article 8 Opt-In. The Partnership hereby irrevocably elects that all Series A B Preferred Units shall be “securities” governed by Article 8 of the Uniform Commercial Code as in effect in the State of Utah and each other applicable jurisdiction. The ownership of Series A B Preferred Units shall be evidenced by certificates. Each certificate evidencing Series A B Preferred Units shall bear the following legend: “This certificate evidences an interest in Extra Space Storage LP and shall be a security governed by Article 8 of the Uniform Commercial Code as in effect in the State of Utah and, to the extent permitted by applicable law, each other applicable jurisdiction.” This provision shall not be amended, and any purported amendment to this provision shall not take effect, until all outstanding certificates evidencing Series A B Preferred Units have been surrendered for cancellation.

Article 8 Opt-In. The Partnership hereby irrevocably elects that all Series A C Preferred Units shall be “securities” governed by Article 8 of the Uniform Commercial Code as in effect in the State of Utah and each other applicable jurisdiction. The ownership of Series A C Preferred Units shall be evidenced by certificates. Each certificate evidencing Series A C Preferred Units shall bear the following legend: “This certificate evidences an interest in Extra Space Storage LP and shall be a security governed by Article 8 of the Uniform Commercial Code as in effect in the State of Utah and, to the extent permitted by applicable law, each other applicable jurisdiction.” This provision shall not be amended, and any purported amendment to this provision shall not take effect, until all outstanding certificates evidencing Series A C Preferred Units have been surrendered for cancellation.

Article 8 Opt-In. The Partnership hereby irrevocably elects that all Series A D Preferred Units shall be “securities” governed by Article 8 of the Uniform Commercial Code as in effect in the State of Utah and each other applicable jurisdiction. The ownership of Series A D Preferred Units shall be evidenced by certificates. Each certificate evidencing Series A D Preferred Units shall bear the following legend: “This certificate evidences an interest in Extra Space Storage LP and shall be a security governed by Article 8 of the Uniform Commercial Code as in effect in the State of Utah and, to the extent permitted by applicable law, each other applicable jurisdiction.” This provision shall not be amended, and any purported amendment to this provision shall not take effect, until all outstanding certificates evidencing Series A D Preferred Units have been surrendered for cancellation.. [the next page is the signature page]