Cost of Improvements. “Cost of Improvement” shall mean, with respect to any item or component for which a cost must be determined in order to allocate such cost, or an increase in such cost, to Tenant pursuant to this Tenant Work Letter, the sum of the following (unless otherwise agreed in writing by Landlord and Tenant with respect to any specific item or component or any category of items or components): # all sums paid to contractors or subcontractors for labor and materials furnished in connection with construction of such item or component; # all costs, expenses, payments, fees and charges (other than penalties) paid to or at the direction of any city, county or other governmental or quasi-governmental authority or agency which are required to be paid in order to obtain all necessary governmental permits, licenses, inspections and approvals relating to construction of such item or component; # engineering and architectural fees for services rendered in connection with the design and construction of such item or component (including, but not limited to, the Architect for such item or component and an electrical engineer, mechanical engineer, structural engineer and civil engineer, if applicable); # sales and use taxes; # testing and inspection costs; # the cost of power, water and other utility facilities and the cost of collection and removal of debris required in

Cost of Expansion Improvements. Lessor shall contribute up to $579,140 ("TI Allowance") toward the cost of the design (including preparation of space plans and Construction Documents), construction and installation of the Expansion Improvements. In addition, if the Tenant Improvements require any tenting of the existing light fixtures in the Expansion Premises, any seismic upgrades to the sprinkler system in the Expansion Premises or any code compliance upgrades to the base building improvements, Lessor shall pay the costs of such tenting, seismic and code compliance upgrades ("Tenting and Upgrade Obligations"). The balance, if any, of the cost of the Expansion Improvements ("Additional Cost") shall be paid by Lessee. Lessee shall pay Lessor 50% of the Additional Cost based upon the Final Cost Estimate prior to the commencement of construction of the Expansion Improvements. The balance of the actual Additional Cost shall be paid to Lessor upon Substantial Completion of the Expansion Improvements, within ten (10) days after receipt of Lessor's invoice therefor. Lessor will use commercially reasonable care in preparing the cost estimates, but they are estimates only and do not limit Lessee's obligation to pay for the actual Additional Cost of the Expansion Improvements, whether or not it exceeds the estimated amounts. Lessor will cause the Contractor to solicit bids for the three major trades (i.e., mechanical, electrical and plumbing) from at least two subcontractors for each trade. If the actual cost of the Expansion Improvements is less than the TI Allowance of

Cost. Notwithstanding the foregoing, the provisions of this [Section 6.12] shall not apply to assets as to which the Administrative Agent and the Domestic Borrower shall reasonably determine that the costs and burdens of obtaining a security interest therein or perfection thereof outweigh the value of the security afforded thereby.

Cost. All Out-of-Pocket Costs incurred in connection with any proceeding under [Section 10.3(a)] shall be borne solely by ​.

Cost. All Alterations shall be designed and performed by Tenant at Tenant’s cost and expense; provided, however, that if any Alterations require work to be performed outside the Premises, Landlord may elect to perform such work at Tenant’s expense. Notwithstanding the foregoing, Landlord shall provide Tenant with a Tenant Improvement Allowance for Alterations performed by Tenant in connection with the initial build out of the Premises for Tenant’s occupancy (the “Initial Alterations”), including, in an amount not to exceed ten percent (10%) of the Tenant Improvement Allowance, for consultant fees incurred by Tenant in connection with the execution of this Lease. Any unused portion of the Tenant Improvement Allowance remaining as of the later of September 1, 2020 and thirteen (13) months after the Rent Commencement Date shall revert to Landlord and shall not be available for use by Tenant for any other purpose. Disbursement of the Tenant Improvement Allowance shall be in accordance with Section 10.2(g) of this Lease. Notwithstanding anything to the contrary herein, # Landlord shall be solely responsible for all costs due to the presence of Hazardous Materials on or about the Project, and # the Rent Commencement Date shall be extended by one (1) day for each day Tenant’s completion of the Initial Alterations is delayed due to Landlord’s delay. Landlord shall endeavor to respond to any consent or approval request by Tenant within five (5) business days.

Improvements. Within 60 days of both parties executing this Option, Buyer will identify to seller, structures, including below ground tanks, that are to remain on the Property; all other structures, and below ground tanks, will be removed by Seller no later than 10 days prior to closing. All structures to remain shall be accepted in AS IS condition.

Improvements. Simultaneously with the Development Progress Report, Licensee shall deliver a detailed description of any Licensed Back Improvements, if not previously provided pursuant to Section 2.5.3.

Improvements. All improvements and related amenities in and on the Land, comprising approximately 101,607 net rentable square feet of storage space and 1,895 rental units, and being commonly known as “Flat Rate Self Storage” (herein, the “Improvements”).

Improvements. Except as specifically set forth herein, Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Premises, and Tenant shall continue to accept the Premises in its presently existing, "as-is" condition. Notwithstanding the foregoing, with respect to the Premises Tenant shall be entitled to a one-time tenant improvement allowance (the "Tenant Improvement Allowance") equal to $200,000.00 for the costs relating to the design and construction of Tenant's improvements which are permanently affixed to the Premises (the “Tenant Improvements”). The Tenant Improvement Allowance will be disbursed in accordance with Landlord's standard disbursement procedures, including, without limitation, following Landlord's receipt of # evidence (i.e., invoices or other documentation reasonably satisfactory to Landlord) of payment for the Tenant Improvements, and # fully executed, unconditional lien releases from all contractors, subcontractors, laborers, materialmen, and suppliers used by Tenant in connection with the Tenant Improvements. The Tenant Improvements shall be constructed in accordance with the terms and conditions of Section 9 of the Original Lease, except that Tenant may use non-union labor in connection with the Tenant Improvements. In no event shall Landlord be obligated to disburse any portion of the Tenant Improvement Allowance subsequent to December 31, 2019, nor shall Landlord be obligated to disburse any amount in excess of the Tenant Improvement Allowance in connection with the construction of the Tenant Improvements. No portion of the Tenant Improvement Allowance, if any, remaining after the construction of the Tenant Improvements shall be available for use by Tenant.

Improvements. All improvements and related amenities to be hereafter constructed on the Land by Seller in accordance with the plans and specifications set forth on Schedule “B” attached hereto and incorporated herein (the “Plans and Specifications”), containing 97,436 net rentable square feet of storage space and 1,162 rental units (herein, the “Improvements”).