THIRD AMENDMENT TO PURCHASE AND SALE AGREEMENT

Exhibit 10.7

THIRD AMENDMENT TO PURCHASE AND SALE AGREEMENT

THIS THIRD AMENDMENT TO PURCHASE AND SALE AGREEMENT (“Amendment”) dated as of July 20, 2005 by and among the entities identified on Schedule 1 - Sellers attached hereto (individually, a “Seller”, and collectively, “Sellers”) and U-STORE-IT, L.P., a Delaware limited partnership (“Buyer”), amends the Purchase and Sale Agreement with an effective date of March 1, 2005, between Sellers and Buyer, as amended by an Amendment to Purchase and Sale Agreement dated May 31, 2005 and a Second Amendment to Purchase and Sale Agreement dated July 5, 2005 (collectively, “Agreement”). Capitalized terms not defined herein shall have the meanings ascribed thereto in the Agreement.

WHEREAS, Sellers and Buyer have determined that the Closing Date for the sale and purchase of the Projects identified on Schedule 2 - Projects be extended to not later than July 29, 2005; and

WHEREAS, Sellers and Buyer desire to amend the terms of the Agreement in furtherance of the foregoing.

NOW THEREFORE, in consideration of the mutual terms, provisions, covenants and agreements set forth herein as well as other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Buyer and Sellers agree as follows:

1. The Closing Date for the Projects identified on Schedule 2 hereto is hereby extended to not later than July 29, 2005. The Xxxxxxx Money held by the Escrow Agent shall be applied to the cash portion of the Acquisition Value for the Projects closing on July 20, 2005.

2. This Amendment may be executed in counterparts, each of which shall be deemed to be an original, and all of such counterparts shall constitute one Amendment. To facilitate execution of the Amendment, the parties may execute and exchange by facsimile counterparts of the signature pages.

[SIGNATURES ON THE FOLLOWING PAGES]

BUYER:
U-STORE-IT, L.P., a Delaware limited partnership
By:		U-Store-It Trust, its general partner
		By:		/s/ Xxxxxx X. Xxxxxx
				Xxxxxx X. Xxxxxx, President and Chief Financial Officer

SELLER:
Denver Investors, a Delaware Limited Partnership						Lakewood Business Center, a Delaware Limited Partnership
By:		Self Storage GP Corp., General Partner				By:		Self Storage GP Corp., General Partner
By:		/s/ Xxxxxx X. Xxxxxx				By:		/s/ Xxxxxx X. Xxxxxx
		Xxxxxx X. Xxxxxx, Vice President						Xxxxxx X. Xxxxxx, Vice President
El Paso Investors, a Delaware Limited Partnership						Mesa Self Storage Investors, a Delaware Limited Partnership
By:		Self Storage GP Corp., General Partner				By:		Self Storage GP Corp., General Partner
		/s/ Xxxxxx X. Xxxxxx						/s/Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President				By:		Xxxxxx X. Xxxxxx, Vice President
Fort Xxxxxx – NSS, a Delaware Limited Partnership						National Self Storage Equities, a Delaware Limited Partnership
By:		Self Storage GP Corp., General Partner				By:		MR Partner Corp., General Partner
		/s/ Xxxxxx X. Xxxxxx						/s/ Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President				By:		Xxxxxx X. Xxxxxx, Vice President
Grant Pacific Corporation						NSS – Pima County, a Delaware Limited Partnership
						By:		Self Storage GP Corp., General Partner
		/s/ Xxxxxx X. Xxxxxx						/s/ Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President				By:		Xxxxxx X. Xxxxxx, Vice President
National Self Storage Tucson Nos. 10, 11, 12, a						NSS SW Investors, LP
Delaware Limited Partnership
By:		Islander (Delaware) Inc., General Partner				By:		Self Storage GP Corp., General Partner
		/s/ Xxxxxx X. Xxxxxx						/s/ Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President				By:		Xxxxxx X. Xxxxxx, Vice President
Oracle Business Plaza Associates, a Delaware Limited Partnership						SGMP TV/Xxxx Investors, L.P.
By:		Self Storage GP Corp., General Partner				By:		Self Storage GP Corp., General Partner
		/s/ Xxxxxx X. Xxxxxx						/s/ Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President				By:		Xxxxxx X. Xxxxxx, Vice President

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Sacramento Investors, a Delaware Limited Partnership						SGMP Houston Investors, LP
By:		Self Storage GP Corp., General Partner				By:		Self Storage GP Corp., General Partner
		/s/ Xxxxxx X. Xxxxxx						/s/ Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President				By:		Xxxxxx X. Xxxxxx, Vice President
Utah Business Partners I, a Delaware Limited Partnership						SGMP Equity Fund I Limited Partnership
By:		Self Storage GP Corp., General Partner				By:		Self Storage GP Corp., General Partner
		/s/ Xxxxxx X. Xxxxxx						/s/ Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President				By:		Xxxxxx X. Xxxxxx, Vice President
SGMP Equity Fund II Limited Partnership						NSS Southern California, L.P.
By:		Self Storage GP Corp., General Partner				By:		NSS Southern California, Inc
		/s/ Xxxxxx X. Xxxxxx						/s/ Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President				By:		Xxxxxx X. Xxxxxx, Vice President
SGMP Synott Limited Partnership						SSMC Mortgage Securities Trust 96-1
By:		Self Storage GP Corp., General Partner				By:		SSMC Funding Corp.
		/s/ Xxxxxx X. Xxxxxx						/s/ Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President				By:		Xxxxxx X. Xxxxxx, Vice President
NSS Palo Verde, LP
By:		Self Storage GP Corp., General Partner
		/s/ Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President
NSS New Mexico, Limited Partnership
By:		MR Partner Corp., General Partner
		/s/ Xxxxxx X. Xxxxxx
By:		Xxxxxx X. Xxxxxx, Vice President

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DESIGNATED PRINCIPALS.

/s/ W. Xxxxxxx Xxxxxx

W. Xxxxxxx Xxxxxx

/s/ Xxxxxx X. Xxxxxx

Xxxxxx X. Xxxxxx

The undersigned hereby execute this Amendment for purposes of Section 7.5 and Section 11.3 of the Agreement

/s/ W. Xxxxxxx Xxxxxx

W. Xxxxxxx Xxxxxx

THE SCHOMAC GROUP, INC., an Arizona Corporation

/s/ Xxxxxx X. Xxxxxx

Xxxxxx X. Xxxxxx, President

TEDCO, INC., an Arizona Corporation

/s/ Xxxxxx X. Xxxxxx

Xxxxxx X. Xxxxxx, Vice President

Xxxxxx X. Xxxxxx Revocable Trust Dated August 6, 2002

/s/ Xxxxxx X. Xxxxxx

Xxxxxx X. Xxxxxx, Trustee

Xxxxx X. Xxxxxx Revocable Trust Dated November 9, 1999

/s/ Xxxxx X. Xxxxxx

Xxxxx X. Xxxxxx, Trustee

San Simeon Investments IV L.P.

By:    RMS GP Corp., an Arizona Corporation, General Partner

Xxxx X. Xxxxxx, President

Trust B of the Xxxxxxx X. Xxxxxx Family Revocable 1975 Trust

Xxxxxxx X. Xxxxxx, Trustee

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SCHEDULE 1

Sellers

Denver Investors L.P.

El Paso Investors L.P.

Ft. Xxxxxx-NSS LP.

Grant Pacific Corporation

Lakewood Business Center L.P.

Mesa Self Storage Investors L.P.

NSS Equities L.P.

NSS Pima County L.P.

NSS TUC 10,11, 12 L.P.

Oracle Business Plaza Assoc.

Sacramento Investors L.P.

Utah Business Partners I L.P.

NSS SW Investors L.P.

SGMP TV/Xxxx Investors L.P.

SGMP Houston Investors L.P.

SGMP Equity Fund I L.P.

SGMP Equity Fund II L.P.

SGMP Xxxxxx X.X.

NSS Palo Verde L.P.

SSMC Mortgage Securities

Trust 96-1

NSS New Mexico L.P.

NSS Southern California L.P.

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SCHEDULE 2

PROJECTS

Owner Name & Entity Information		Site		Street Address		City, State, Zip		Acquisition Value
NSS SW Investors, LP		CAR 1		000 X. Xxxxx Xxxxxx		Xxxxxxxx, XX 0000X		1,986,500
Entity Type: LP, State of Formation: Arizona		CEN 1		0000 Xxxxx		Xx Xxxx, Xx 00000		1,023,100
		DEM 1		0000 X. Xxxxxxx Xxxxxx		Xxxxxx, XX 00000		1,371,300
		ELP 5		000 X. Xxxxx		Xx Xxxx, Xx 00000		3,193,100
		ELP 6		00000 Xxxxx Xxxx		Xx Xxxx, XX 00000		1,198,900
		GRN 1		000 X. Xxxxxx Xxxx Xxxxx		Xxxxx Xxxxxx, XX 00000		1,370,200
		LOV 1		0000 X. Xxxx Xxxxxx		Xxxxxxxxx, XX 00000		450,600
		LUC 1		0000 X. Xxxxxx Xxxxxx		Xxx Xxxxxx, XX 00000		2,476,600
		MOB 1		0000 X. Xxxx Xxxxxx		Xxxxxxxxx, XX 00000		232,600
		SIL1		00000 Xxx 000		Xxxxxx Xxxx, XX 00000		620,700
		TOC 1		000 X. Xxx #00		Xxxxx xx Xxxxxxxxxxxx XX 00000		42,100
SGMP Equity Fund I Limited Partnership		LOS 2		0000 Xxxxx Xxx.		Xxxxxxxxxxx, XX 00000		6,656,900
Entity Type: LP, State of Formation: Arizona		MEM 1		0000 Xxxxxxxx Xxxx		Xxxxxxx, XX 00000		2,684,400
		MEM 2		0000 Xxxxxxxx Xxx		Xxxxxxx, XX 00000		1,924,300
		MEM 3		0000 Xxxxxxxxxx Xx.		Xxxxxxx, XX 00000		1,451,800
		MEM 4		0000 Xxxxxxxxxx Xx.		Xxxxxxx, XX 00000		1,896,500
		SAN 2		000 X. Xxxxxxxxx Xxxxx		Xxx Xxxxxx, XX 00000		2,952,800
SGMP Equity Fund II Limited Partnership		HOU 6		0000 Xxxxxxx		Xxxxxxx, XX 00000		1,066,800
Entity Type: LP, State of Formation: Arizona		KNX 1		0000 Xxxxxxx Xxxxxx Xxxx		Xxxxxxxxx,XX 00000		3,994,200
		KNX 2		0000 Xxxxxxx Xxxxxxx		Xxxxxxxxx, XX 00000		2,835,900
		KNX 3		0000 Xxxxxxx Xxxxx		Xxxxxxxxx, XX 00000		5,323,100
		KNX 4		000 Xxxxxxx Xxxxx Xxxxx		Xxxxx, XX 00000		2,310,300
SGMP Synott Limited Partnership		HOU 12		0000 Xxxxxx		Xxxxxxx, XX 00000		1,791,300
Entity Type: LP, State of Formation: Arizona		HOU 14		000 Xxxxxxxx Xx.		Xxxxxxx Xxxxxxx, XX 00000		1,515,000

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