The following table summarizes the accounts payable, accrued expenses and other liabilities as of September 30, 2021 and December 31, 2020:

	September 30, 2021		December 31, 2020
Accounts payable	$	214,525	$	94,674
Accrued expenses		4,121,562		2,755,010
Accrued interest expense		3,961,834		3,433,247
Operating lease liabilities		2,151,595		2,149,001
Other liabilities		1,737,030		1,517,633
Total accounts payable, accrued expenses and other liabilities	$	12,186,546	$	9,949,565

The 50/50 MF Property has a ground lease with the University of Nebraska-Lincoln with an initial lease term expiring in March 2048. The Partnership has an option to extend the lease for an additional five-year period, which has not been factored into the calculation of the ROU asset and lease liability. Annual lease payments are $100 per year. The Partnership is also required to make monthly payments, when cash is available at The 50/50 MF Property, to the University of Nebraska-Lincoln. Payment amounts are based on The 50/50 MF Property’s revenues, subject to an annual guaranteed minimum amount. As of September 30, 2021, the minimum aggregate annual payment due under the agreement is approximately $138,000. The minimum aggregate annual payment increases 2% annually until July 31, 2034 and increases 3% annually thereafter. The 50/50 MF Property will be required to make additional payments under the agreement if its gross revenues exceed certain thresholds. The Partnership recognized expenses related to the ground lease of approximately $42,000 and $126,000 for the three and nine months ended September 30, 2021 and 2020, respectively, and are reported within “Real estate operating expenses” in the condensed consolidated statements of operations.

The following table summarizes future contractual payments for the Partnership’s operating leases and a reconciliation to the carrying value of operating lease liabilities as of September 30, 2021:

Remainder of 2021	$	34,968
2022		141,119
2023		143,561
2024		144,706
2025		147,598
Thereafter		4,369,676
Total		4,981,628
Less: Amount representing interest		(2,830,033	)
Total operating lease liabilities	$	2,151,595