EXHIBIT
10.3


GUARANTOR ACKNOWLEDGEMENT


THIS GUARANTOR ACKNOWLEDGEMENT dated as of
June 12, 2007 (this “Acknowledgement”) executed by each of the undersigned
(the “Guarantors”) in favor of Wachovia Bank, National Association, as Agent
(the “Agent”) and each “Lender” a party to the Credit Agreement referred to
below (the “Lenders”).


WHEREAS, U-Store-It, L.P.
(the “Borrower”), U-Store-It Trust (the “Parent”), the Lenders, the Agent and
certain other parties have entered into that certain Credit Agreement dated as
of November 21, 2006 (as amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”);


WHEREAS, each of the
Guarantors is a party to that certain Guaranty dated as of November 21, 2006
(as amended, restated, supplemented or otherwise modified from time to time,
the “Guaranty”) pursuant to which they guarantied, among other things, the
Borrower’s obligations under the Credit Agreement on the terms and conditions
contained in the Guaranty;


WHEREAS, the Borrower,
the Parent, the Agent and the Lenders are to enter into a First Amendment to
Credit Agreement dated as of the date hereof (the “Amendment”), to amend the
terms of the Credit Agreement on the terms and conditions contained therein;
and


WHEREAS, it is a
condition precedent to the effectiveness of the Amendment that the Guarantors
execute and deliver this Acknowledgement.


NOW, THEREFORE, for good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by the parties hereto, the parties hereto agree as follows:


Section 1.  Reaffirmation.  Each Guarantor hereby reaffirms its
continuing obligations to the Agent and the Lenders under the Guaranty and
agrees that the transactions contemplated by the Amendment shall not in any way
affect the validity and enforceability of the Guaranty, or reduce, impair or
discharge the obligations of such Guarantor thereunder.


Section 2.  Governing Law.  THIS GUARANTOR
ACKNOWLEDGEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NORTH CAROLINA APPLICABLE TO CONTRACTS EXECUTED, AND
TO BE FULLY PERFORMED, IN SUCH STATE.


Section 3.  Counterparts.  This Acknowledgement may be executed in any
number of counterparts, each of which shall be deemed to be an original and
shall be binding upon all parties, their successors and assigns.


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IN WITNESS WHEREOF, each
Guarantor has duly executed and delivered this Guarantor Acknowledgement as of
the date and year first written above.


	
  

  	
   

  	
  THE GUARANTORS:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  U-STORE-IT TRUST

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    Christopher
  P. Marr

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
    Christopher
  P. Marr

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
    CFO

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  U-STORE-IT MINI
  WAREHOUSE CO.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    Christopher
  P. Marr

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
    Christopher
  P. Marr

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
    CFO

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  YSI MANAGEMENT
  LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    Christopher
  P. Marr

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
    Christopher
  P. Marr

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
    CFO