8. MORTGAGE LOANS AND NOTES PAYABLE

The Company’s mortgage loans and notes payable are summarized as follows:

	Carrying Value as of:
	December 31,		December 31,		Effective		Maturity
Mortgage Loan	2012		2011		Interest Rate		Date
	(in thousands)
YSI 53	$	—	$	9,100	5.93	%	Jul-12
YSI 6	—		74,834		5.13	%	Aug-12
YASKY	—		80,000		4.96	%	Sep-12
YSI 14	—		1,703		5.97	%	Jan-13
YSI 7	2,962		3,032		6.50	%	Jun-13
YSI 8	1,692		1,733		6.50	%	Jun-13
YSI 9	1,862		1,906		6.50	%	Jun-13
YSI 17	3,846		3,987		6.32	%	Jul-13
YSI 27	461		481		5.59	%	Nov-13
YSI 30	6,765		7,049		5.59	%	Nov-13
USIFB	7,221		7,125		3.49	%	Dec-13
YSI 11	2,276		2,350		5.87	%	Jan-14
YSI 5	3,001		3,100		5.25	%	Jan-14
YSI 28	1,460		1,509		5.59	%	Mar-14
YSI 37	—		2,174		7.25	%	Aug-14
YSI 44	—		1,070		7.00	%	Sep-14
YSI 41	—		3,775		6.60	%	Sep-14
YSI 45	—		5,353		6.75	%	Oct-14
YSI 48	—		24,870		7.25	%	Nov-14
YSI 50	—		2,260		6.75	%	Dec-14
YSI 10	3,928		4,011		5.87	%	Jan-15
YSI 15	1,784		1,832		6.41	%	Jan-15
YSI 52	4,721		4,884		5.44	%	Jan-15
YSI 58	8,974		—		2.97	%	Jan-15
YSI 29	13,060		—		3.69	%	Aug-15
YSI 20	58,524		60,551		5.97	%	Nov-15
YSI 59	9,603		—		4.82	%	Mar-16
YSI 60	3,725		—		5.04	%	Aug-16
YSI 51	7,325		7,423		6.36	%	Oct-16
YSI 31	—		13,414		6.75	%	Jun-19	(a)
YSI 35	4,373		4,464		6.90	%	Jul-19	(a)
YSI 32	—		5,950		6.75	%	Jul-19	(a)
YSI 33	10,930		11,157		6.42	%	Jul-19
YSI 39	—		3,867		6.50	%	Sep-19	(a)
YSI 47	—		3,091		6.63	%	Jan-20	(a)
YSI 26	9,102		—		4.56	%	Nov-20
YSI 57	3,195		—		4.61	%	Nov-20
YSI 55	24,502		—		4.85	%	Jun-21
YSI 24	29,141		—		4.64	%	Jun-21
Unamortized fair value adjustment	4,326		386

Total mortgage loans and notes payable	$	228,759	$	358,441

(a) These borrowings have a fixed interest rate for the first five years of their term, which then resets and remains constant over the final five years of the loan term.

As of December 31, 2012 and 2011, the Company’s mortgage loans payable were secured by certain of its self-storage facilities with net book values of approximately $440 million and $514 million, respectively. The following table represents the future principal payment requirements on the outstanding mortgage loans and notes payable at December 31, 2012 (in thousands):

2013	$	30,136
2014	12,149
2015	86,689
2016	21,261
2017	1,863
2018 and thereafter	72,335
Total mortgage payments	224,433
Plus: Unamortized fair value adjustment	4,326
Total mortgage indebtedness	$	228,759

The Company currently intends to fund its 2013 principal payment requirements from cash provided by operating activities, new debt originations, and/or additional borrowings under our unsecured 2011 Credit Facility ($254.8 million available as of December 31, 2012).