EX-25.1 6 d53440dex251.htm EX-25.1 EX-25.1

Exhibit 25.1

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

 

 

A National Banking Association   94-1347393
(Jurisdiction of incorporation or organization if not a U.S. national bank)   (I.R.S. Employer Identification No.)

101 North Phillips Avenue

Sioux Falls, South Dakota

  57104
(Address of principal executive offices)   (Zip code)

Wells Fargo & Company

Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17th Floor

Minneapolis, Minnesota 55479

(612) 667-4608

(Name, address and telephone number of agent for service)

 

 

LIFE STORAGE, INC.

LIFE STORAGE LP

(Exact name of obligor as specified in its charter)

 

 

 

Life Storage, Inc. - Maryland
Life Storage LP - Delaware
 

16-1194043

16-1481551

(State or other jurisdiction of
incorporation or organization)
  (I.R.S. Employer
Identification No.)
6467 Main Street
Williamsville, New York
  14221

(Address of principal executive offices)

  (Zip code)

 

 

Debt Securities

(Title of the indenture securities)

 

 

 


Item 1. General Information. Furnish the following information as to the trustee:

 

  (a)

Name and address of each examining or supervising authority to which it is subject.

Comptroller of the Currency

Treasury Department

Washington, D.C.

Federal Deposit Insurance Corporation

Washington, D.C.

Federal Reserve Bank of San Francisco

San Francisco, California 94120

 

  (b)

Whether it is authorized to exercise corporate trust powers.

The trustee is authorized to exercise corporate trust powers.

Item 2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.

None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15. Foreign Trustee. Not applicable.

Item 16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.

 

   Exhibit 1.    A copy of the Articles of Association of the trustee now in effect.*
   Exhibit 2.    A copy of the Comptroller of the Currency Certificate of Corporate Existence for Wells Fargo Bank, National Association, dated November 1, 2019.*
   Exhibit 3.    A copy of the Comptroller of the Currency Certification of Fiduciary Powers for Wells Fargo Bank, National Association, dated November 1, 2019.*
   Exhibit 4.    Copy of By-laws of the trustee as now in effect.*
   Exhibit 5.    Not applicable.
   Exhibit 6.    The consent of the trustee required by Section 321(b) of the Act.
   Exhibit 7.    A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
   Exhibit 8.    Not applicable.
   Exhibit 9.    Not applicable.

* Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25.1 to the Filing S-3ASR dated December 20, 2019 of file number 333-235649.


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Jacksonville and State of Florida on the 11th day of June, 2021.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION
/s/ Tina Gonzalez
Tina Gonzalez

Vice President


EXHIBIT 6

June 11, 2021

Securities and Exchange Commission

Washington, D.C. 20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

 

Very truly yours,

WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Tina Gonzalez

Tina Gonzalez

Vice President


Exhibit 7

Consolidated Report of Condition of

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business March 31, 2021, filed in accordance with 12 U.S.C. §161 for National Banks.

 

                                   Dollar
Amounts
    In Millions    
 

ASSETS

     

Cash and balances due from depository institutions:

     

Noninterest-bearing balances and currency and coin

      $ 27,624  

Interest-bearing balances

        247,100  

Securities:

     

Held-to-maturity securities

        232,139  

Available-for-sale securities

        193,559  

Equity Securities with readily determinable fair value not held for trading

        11  

Federal funds sold and securities purchased under agreements to resell:

     

Federal funds sold in domestic offices

        52  

Securities purchased under agreements to resell

        61,135  

Loans and lease financing receivables:

     

Loans and leases held for sale

        32,787  

Loans and leases, net of unearned income

     825,035     

LESS: Allowance for loan and lease losses

     16,694     

Loans and leases, net of unearned income and allowance

        808,341  

Trading Assets

        64,013  

Premises and fixed assets (including capitalized leases)

        10,992  

Other real estate owned

        158  

Investments in unconsolidated subsidiaries and associated companies

        13,487  

Direct and indirect investments in real estate ventures

        66  

Intangible assets

        31,616  

Other assets

        50,077  
     

 

 

 

Total assets

      $ 1,773,157  

LIABILITIES

     

Deposits:

     

In domestic offices

      $ 1,463,374  

Noninterest-bearing

     551,270     

Interest-bearing

     912,104     

In foreign offices, Edge and Agreement subsidiaries, and IBFs

        28,333  

Noninterest-bearing

     332     

Interest-bearing

     28,001     

Federal funds purchased and securities sold under agreements to repurchase:

     

Federal funds purchased in domestic offices

        876  

Securities sold under agreements to repurchase

        5,980  


     Dollar
Amounts

In Millions
 

Trading liabilities

     15,235  

Other borrowed money

  

(Includes mortgage indebtedness and obligations under capitalized leases)

     44,034  

Subordinated notes and debentures

     11,879  

Other liabilities

     32,321  
  

 

 

 

Total liabilities

   $ 1,602,032  

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

     0  

Common stock

     519  

Surplus (exclude all surplus related to preferred stock)

     114,820  

Retained earnings

     54,661  

Accumulated other comprehensive income

     1,094  

Other equity capital components

     0  
  

 

 

 

Total bank equity capital

     171,094  

Noncontrolling (minority) interests in consolidated subsidiaries

     31  

Total equity capital

     171,125  
  

 

 

 

Total liabilities, and equity capital

   $ 1,773,157  

I, Michael P. Santomassimo, Sr. EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

Michael P. Santomassimo

Sr. EVP & CFO                

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

Directors

Maria R. Morris

Theodore F. Craver, Jr.

Juan A. Pujadas