Common use of Physical Delivery of Notes Clause in Contracts

Physical Delivery of Notes. Northern Trust Company Trade Securities Processing, C-1N 80▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Reference: Account: 26-11038/CIC Chicago, IL 60607 (1) All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to: Northern Chgo/Trust ABA#▇▇▇▇▇▇▇▇▇ Credit Wire Account # 5186041000 26-11037/ USAA PPN #045604 A#2 Issuer: Associated Estates Realty Corporation Security Description: 4.29% Senior Notes, Series A, due October 21, 2020 With sufficient information to identify the source and application of such funds, including the issuer name, the PPN of the issue, interest rate, payment due date, maturity date, interest amount, principal and premium amount. Notices (2) Address for notices relating to payments: Ell & Co c/o Northern Trust Company PO Box 92395 Chicago, IL 60675-92395 Attn: Income Collections Please include the cusip and shares/par for the dividend/interest payment (3) Address for all other communications: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ VP Insurance Portfolios 98▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ San Antonio, TX 78288 (▇▇▇) ▇▇▇-▇▇▇▇ (4) Name of Nominee in which Notes are to be issued: ELL & CO. (5) Tax Identification Number: ▇▇-▇▇▇▇▇▇▇

Physical Delivery of Notes. Northern Trust Company Trade Securities Processing, C-1N Account: 26-11037 80▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ Reference: Account: 26-11038/CIC Chicago, IL 60607 (1) All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to: Northern Chgo/Trust ABA#▇▇▇▇▇▇▇▇▇ Credit Wire Account # 5186041000 26-11037/ USAA 11042/ Life Company PPN #045604 A#2 B*5 Issuer: Associated Estates Realty Corporation Security Description: 4.294.94% Senior Notes, Series AB, due October 21January 8, 2020 2024 With sufficient information to identify the source and application of such funds, including the issuer name, the PPN of the issue, interest rate, payment due date, maturity date, interest amount, principal and premium amount. Notices (2) Address for notices relating to payments: Ell & Co c/o Northern Trust Company PO Box 92395 Chicago, IL 60675-92395 Attn: Income Collections Please include the cusip and shares/par for the dividend/interest payment (3) Address for all other communications: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ VP Insurance Portfolios 98▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ San Antonio, TX 78288 (▇▇▇) ▇▇▇-▇▇▇▇ (4) Name of Nominee in which Notes are to be issued: ELL & CO. (5) Tax Identification Number: ▇▇-▇▇▇▇▇▇▇