Third Amendment to Purchase and Sale Agreement, dated July 20, 2005



 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 Earnest 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/ Steven G. Osgood

	 	 	 	 	Steven G. Osgood, 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/ Dennis L. Winans
	 	 	 	 By:
	 	 /s/ Dennis L. Winans

	 	 	 Dennis L. Winans, Vice President
	 	 	 	 	 	 Dennis L. Winans, 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/ Dennis L. Winans
	 	 	 	 	 	 /s/Dennis L. Winans

	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 By:
	 	 Dennis L. Winans, Vice President

			
	Fort Lowell – 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/ Dennis L. Winans
	 	 	 	 	 	 /s/ Dennis L. Winans

	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 By:
	 	 Dennis L. Winans, Vice President

			
	Grant Pacific Corporation	 	 	 	NSS – Pima County, a Delaware Limited Partnership
	 	 	 	 	 	 	 By:
	 	 Self Storage GP Corp., General Partner

					
	 	 	 /s/ Dennis L. Winans
	 	 	 	 	 	 /s/ Dennis L. Winans

	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 By:
	 	 Dennis L. Winans, 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/ Dennis L. Winans
	 	 	 	 	 	 /s/ Dennis L. Winans

	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 By:
	 	 Dennis L. Winans, Vice President

			
	Oracle Business Plaza Associates, a Delaware Limited Partnership	 	 	 	SGMP TV/Kolb Investors, L.P.
	 By:
	 	 Self Storage GP Corp., General Partner
	 	 	 	 By:
	 	 Self Storage GP Corp., General Partner

					
	 	 	 /s/ Dennis L. Winans
	 	 	 	 	 	 /s/ Dennis L. Winans

	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 By:
	 	 Dennis L. Winans, 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/ Dennis L. Winans
	 	 	 	 	 	 /s/ Dennis L. Winans

	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 By:
	 	 Dennis L. Winans, 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/ Dennis L. Winans
	 	 	 	 	 	 /s/ Dennis L. Winans

	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 By:
	 	 Dennis L. Winans, 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/ Dennis L. Winans
	 	 	 	 	 	 /s/ Dennis L. Winans

	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 By:
	 	 Dennis L. Winans, Vice President

			
	SGMP Synott Limited Partnership	 	 	 	SSMC Mortgage Securities Trust 96-1
	 By:
	 	 Self Storage GP Corp., General Partner
	 	 	 	 By:
	 	 SSMC Funding Corp.

					
	 	 	 /s/ Dennis L. Winans
	 	 	 	 	 	 /s/ Dennis L. Winans

	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 By:
	 	 Dennis L. Winans, Vice President

			
	NSS Palo Verde, LP	 	 	 	 
	 By:
	 	 Self Storage GP Corp., General Partner
	 	 	 	 	 	 
					
	 	 	 /s/ Dennis L. Winans
	 	 	 	 	 	 
	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 	 	 
			
	NSS New Mexico, Limited Partnership	 	 	 	 
	 By:
	 	 MR Partner Corp., General Partner
	 	 	 	 	 	 
					
	 	 	 /s/ Dennis L. Winans
	 	 	 	 	 	 
	 By:
	 	 Dennis L. Winans, Vice President
	 	 	 	 	 	 

  

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	DESIGNATED PRINCIPALS.
	
	 /s/ W. Michael Schoff

	 W. Michael Schoff

	
	 /s/ Robert H. Schoff

	 Robert H. Schoff



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

	
	 /s/ W. Michael Schoff

	W. Michael Schoff


	
	
	THE SCHOMAC GROUP, INC., an Arizona Corporation


	
	
	 /s/ Dennis L. Winans

	 Dennis L. Winans, President



	
	
	TEDCO, INC., an Arizona Corporation


	
	
	 /s/ Dennis L. Winans

	 Dennis L. Winans, Vice President



	
	
	Robert H. Schoff Revocable Trust Dated August 6, 2002


	
	
	 /s/ Robert H. Schoff

	 Robert H. Schoff, Trustee



	
	
	Susan A. Harris Revocable Trust Dated November 9, 1999


	
	
	 /s/ Susan A. Harris

	 Susan A. Harris, Trustee



	
	
	San Simeon Investments IV L.P.
	By:    RMS GP Corp., an Arizona Corporation, General Partner


	
	
	  
	 Ryan M. Schoff, President



	
	
	Trust B of the Charles E. Schoff Family Revocable 1975 Trust


	
	
	  
	 Charles E. Schoff, Trustee


  

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 SCHEDULE 1 
  
 Sellers 
  

	
	 Denver Investors L.P.
  
 El Paso Investors L.P.
  
 Ft. Lowell-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/Kolb Investors L.P.
  
 SGMP Houston Investors L.P.
  
 SGMP Equity Fund I L.P.
  
 SGMP Equity Fund II L.P.
  
 SGMP Synott L.P.
  
 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	  	304 S. Sixth Street	  	Carlsbad, NM 8822D	  	1,986,500
	 Entity Type: LP, State of
Formation: Arizona
	  	CEN 1	  	6000 Welch	  	El Paso, Tx 79905	  	1,023,100
	 	  	DEM 1	  	1010 S. Diamond Avenue	  	Deming, NM 88030	  	1,371,300
	 	  	ELP 5	  	301 N. Clark	  	El Paso, Tx 79905	  	3,193,100
	 	  	ELP 6	  	11565 James Watt	  	El Paso, TX 79936	  	1,198,900
	 	  	GRN 1	  	630 W. Camino Casa Verde	  	Green Valley, AZ 85614	  	1,370,200
	 	  	LOV 1	  	1100 N. Love Street	  	Lovinglon, NM 88260	  	450,600
	 	  	LUC 1	  	1100 E. Madrid Street	  	Las Cruces, NM 88001	  	2,476,600
	 	  	MOB 1	  	1200 N. Love Street	  	Lovinglon, NM 88260	  	232,600
	 	  	SIL1	  	11172 Hwy 180	  	Silver City, NM 88061	  	620,700
	 	  	TOC 1	  	801 N. Hwy #51	  	 Truth or Consequences
 NM 87901
	  	42,100
	 SGMP Equity Fund I Limited Partnership
	  	LOS 2	  	6491 Maple Ave.	  	Westminster, CA 92683	  	6,656,900
	 Entity Type: LP, State of
Formation: Arizona
	  	MEM 1	  	7777 Moriarty Road	  	Cordova, TN 38018	  	2,684,400
	 	  	MEM 2	  	5141 American Way	  	Memphis, TN 38115	  	1,924,300
	 	  	MEM 3	  	6390 Winchester Rd.	  	Memphis, TN 38115	  	1,451,800
	 	  	MEM 4	  	4705 Winchester Rd.	  	Memphis, TN 38118	  	1,896,500
	 	  	SAN 2	  	946 E. Rancheros Drive	  	San Marcos, CA 92683	  	2,952,800
	 SGMP Equity Fund II Limited Partnership
	  	HOU 6	  	9900 Rowlett	  	Houston, TX 77075	  	1,066,800
	 Entity Type: LP, State of
Formation: Arizona
	  	KNX 1	  	4811 Central Avenue Pike	  	Knoxville,TN 37912	  	3,994,200
	 	  	KNX 2	  	4709 Chapman Highway	  	Knoxville, TN 37920	  	2,835,900
	 	  	KNX 3	  	8713 Unicorn Drive	  	Knoxville, TN 37923	  	5,323,100
	 	  	KNX 4	  	142 Airport Plaza Drive	  	Alcoa, TN 37701	  	2,310,300
	 SGMP Synott Limited Partnership
	  	HOU 12	  	7001 Synott	  	Houston, TX 77083	  	1,791,300
	 Entity Type: LP, State of
Formation: Arizona
	  	HOU 14	  	104 Holleman Dr.	  	College Station, TX 77840	  	1,515,000

  

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