Form: S-3ASR

Automatic shelf registration statement of securities of well-known seasoned issuers

March 14, 2018

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)
_______________________________________________________

U.S. BANK NATIONAL ASSOCIATION
(Exact name of Trustee as specified in its charter)

31-0841368
I.R.S. Employer Identification No.

800 Nicollet Mall
Minneapolis, Minnesota

55402
(Address of principal executive offices)
(Zip Code)
                        
Richard Prokosch
U.S. Bank National Association
60 Livingston Avenue
St. Paul, MN 55107
(651) 466-6619
(Name, address and telephone number of agent for service)

National Storage Affiliates Trust
(Issuer with respect to the Securities)
Maryland
46-5053858
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
 
 

5200 DTC Parkway
Suite 200
Greenwood Village, Colorado


80111
(Address of Principal Executive Offices)
(Zip Code)
    
Debt Securities
(Title of the Indenture Securities)





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FORM T-1

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
400 7th Street, SW
Washington, D.C. 20219

b)    Whether it is authorized to exercise corporate trust powers.
Yes

Item 2. AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the Trustee, describe each such affiliation.
None

Items 3-15
Items 3-15 are not applicable because to the best of the Trustee's knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee.
    
Item 16. LIST OF EXHIBITS: List below all exhibits filed as a part of this statement of eligibility and qualification.

1. A copy of the Articles of Association of the Trustee.*

2. A copy of the certificate of authority of the Trustee to commence business, attached as Exhibit 2.

3.    A copy of the certificate of authority of the Trustee to exercise corporate trust powers, attached as Exhibit 3.

4.    A copy of the existing bylaws of the Trustee.**
 
5.    A copy of each Indenture referred to in Item 4. Not applicable.

6.    The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6.

7.    Report of Condition of the Trustee as of March 31, 2017 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7.
        
* Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005.
** Incorporated by reference to Exhibit 25.1 to registration statement on S-4, Registration Number 333-166527 filed on May 5, 2010.



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SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. 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 and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of St. Paul, State of Minnesota on the 8th of March, 2018.

By:
/s/ Richard Prokosch
 
Richard Prokosch
 
Vice President

                    

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Exhibit 2
exhibit2.jpg






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Exhibit 3
exhibit3.jpg





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Exhibit 6

CONSENT

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


Dated: March 8, 2018

By:
/s/ Richard Prokosch
 
Richard Prokosch
 
Vice President

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Exhibit 7
U.S. Bank National Association
Statement of Financial Condition
As of 12/31/2017

($000’s)

 
 
12/31/2017

Assets
 
 
Cash and Balances Due From
 
$
19,469,911

Depository Institutions
 
 
Securities
 
111,520,538

Federal Funds
 
69,009

Loans & Lease Financing Receivables
 
279,502,730

Fixed Assets
 
4,583,971

Intangible Assets
 
12,895,144

Other Assets
 
27,984,526

Total Assets
 
$
456,025,829

 
 
 
Liabilities
 
 
Deposits
 
$
357,200,076

Fed Funds
 
926,018

Treasury Demand Notes
 

Trading Liabilities
 
1,102,222

Other Borrowed Money
 
31,004,180

Acceptances
 

Subordinated Notes and Debentures
 
3,300,000

Other Liabilities
 
14,979,001

Total Liabilities
 
$
408,511,497

 
 
 
Equity
 
 
Common and Preferred Stock
 
18,200

Surplus
 
14,266,915

Undivided Profits
 
32,432,873

Minority Interest in Subsidiaries
 
796,344

Total Equity Capital
 
$
47,514,332

 
 
 
Total Liabilities and Equity Capital
 
$
456,025,829

 





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