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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 $ 31131 . 17 <br /> 4/ 1/2027 3/31/ 2028 $ 381513 . 42 $ 3 , 209 . 45 <br /> 4/ 1/2028 3/31/2029 $ 39, 476 . 26 $ 3 , 289 . 69 <br /> 4/ 1/2029 3/31/2030 $ 401463 . 16 $ 31371 . 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 $ 51253 . 13 <br /> 4/ 1/2027 3/31/2028 $ 5 , 384 . 45 <br /> 4/ 1/2028 3/31/2029 $ 51519 . 06 <br /> 4/ 1/2029 3/31/ 2030 $ 51657 . 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 />