The following table summarizes the Partnership’s accounts payable, accrued expenses and other liabilities as of December 31, 2020 and 2019:

	December 31, 2020		December 31, 2019
Accounts payable	$	94,674	$	93,834
Accrued expenses		2,755,010		2,529,982
Accrued interest expense		3,433,247		2,690,076
Operating lease liabilities		2,149,001		2,138,783
Other liabilities		1,517,633		1,583,492
Total accounts payable, accrued expenses and other liabilities	$	9,949,565	$	9,036,167

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 December 31, 2020, the minimum aggregate annual payment due under the agreement is approximately $135,000. 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 $168,000 for the years ended December 31, 2020 and 2019, respectively, and are reported within “Real estate operating expenses” on the Partnership’s consolidated statements of operations.

The following table summarizes the Partnership’s contractual payments related to operating leases and a reconciliation to the carrying value of operating lease liabilities as of December 31, 2020.

2021	$	138,394
2022		141,119
2023		143,561
2024		144,706
2025		147,598
Thereafter		4,369,676
Total		5,085,054
Less: Amount representing interest		(2,936,053	)
Total operating lease liabilities	$	2,149,001