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44 <br /> START END ANNUAL MONTHLY <br /> 4/1/2025 3/31/2026 $36,657.63 $3,054.80 <br /> 4/1/2026 3/31/2027 $37,574.07 $3,131.17 <br /> 4/1/2027 3/31/2028 $38,513.42 $3,209.45 <br /> 4/1/2028 3/31/2029 $39,476.26 $3,289.69 <br /> 4/1/2029 3/31/2030 $40,463.16 $3,371.93 <br /> 3. OPERATING EXPENSE PASS-THROUGH. The last sentence of exhibit D to <br /> Lease places an annual cap of$5,000 on operating expenses payable by Tenant annually <br /> during the initial term of the Lease. During the initial term operating expenses did not <br /> exceed the cap. During the extended term, the cap on operating expenses will escalate <br /> annually by 2.5%. The expense cap for each year during the extended term is shown on <br /> the schedule below: <br /> START END EXPENSE CAP <br /> 4/1/2025 3/31/2026 $5,125.00 <br /> 4/1/2026 3/31/2027 $5,253.13 <br /> 4/1/2027 3/31/2028 $5,384.45 <br /> 4/1/2028 3/31/2029 $5,519.06 <br /> 4/1/2029 3/31/2030 $5,657.04 <br /> 4. EXTENSION OPTIONS. Tenant may, by written notice delivered to <br /> Landlord on or before the 365th day prior to the expiration of the Term, extend the Term <br /> of this Lease for two additional period(s)of five years (each, if more than one option exists, <br /> provided that such periods are consecutive) upon the same terms and conditions as are <br /> set forth in this Lease for the initial Term, except that Minimum Rent for each such <br /> extended term shall increase by two and one-half percent (2.5%) over the base rent <br /> during the preceding year and will thereafter escalate annually by two and one-half <br /> ERM and OCAC Amendment Three to Lease 2 <br />