Common use of UNCONDITIONAL GUARANTY OF PAYMENT AND PERFORMANCE Clause in Contracts

UNCONDITIONAL GUARANTY OF PAYMENT AND PERFORMANCE. FOR AND IN CONSIDERATION OF the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration paid or delivered to the undersigned Guarantors which are now or hereafter a party hereto (hereinafter referred to individually as a “Guarantor” and collectively, as “Guarantors”), the receipt and sufficiency whereof are hereby acknowledged by Guarantors, and for the purpose of seeking to induce KEYBANK NATIONAL ASSOCIATION, a national banking association (hereinafter referred to as “Lender”, which term shall also include each other Lender which may now be or hereafter become a party to the “Credit Agreement” (as hereinafter defined), any Lender acting as the Issuing Lender under the Credit Agreement and shall also include any such individual Lender acting as agent for all of the Lenders), to extend credit or otherwise provide financial accommodations to MID-AMERICA APARTMENTS, L.P., a Tennessee limited partnership (“Borrower”), under the Credit Agreement, which extension of credit and provision of financial accommodations will be to the direct interest, advantage and benefit of Guarantors, Guarantors do hereby, jointly and severally, absolutely, unconditionally and irrevocably guarantee to Lender the complete payment and performance of the following liabilities, obligations and indebtedness of Borrower to Lender (hereinafter referred to collectively as the “Obligations”) (capitalized terms that are used herein that are not otherwise defined herein shall have the meanings set forth in the Credit Agreement):

UNCONDITIONAL GUARANTY OF PAYMENT AND PERFORMANCE. FOR AND IN CONSIDERATION OF the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration paid or delivered to the undersigned Guarantors which entities executing this Unconditional Guaranty of Payment and Performance (such entities are now or hereafter a party hereto (sometimes hereinafter referred to individually as a “Guarantor” and collectively, collectively as “Guarantors”), ) the receipt and sufficiency whereof are is hereby acknowledged by Guarantors, and for the purpose of seeking to induce KEYBANK NATIONAL ASSOCIATION, a national banking association (hereinafter referred to as “Lender”, ,” which term shall also include each other Lender which may now be or hereafter become a party to the “Credit Loan Agreement” (as hereinafter defined), any Lender acting as the Issuing Lender under the Credit Agreement ) and shall also include any such individual Lender acting as administrative agent for all of the Lenders), to extend credit or otherwise provide financial accommodations to MID-AMERICA APARTMENTSDEVELOPERS DIVERSIFIED REALTY CORPORATION, L.P., an Ohio corporation (“DDR”) and each Subsidiary which is a Tennessee limited partnership Qualified Borrower under the Loan Agreement (such Subsidiaries together with DDR being hereinafter referred to collectively as “Borrower”), under the Credit Agreement, which extension of credit and provision of financial accommodations will be to the direct interest, advantage and benefit of Guarantors, Guarantors do hereby, hereby jointly and severally, absolutely, unconditionally and irrevocably guarantee to Lender the complete payment and performance of the following liabilities, obligations and indebtedness of Borrower to Lender (hereinafter referred to collectively as the “Obligations”) (capitalized terms that are used herein that are not otherwise defined herein shall have the meanings set forth in the Credit Agreement):Lender: