This diagram shows the time period from 01/01/06 to 12/31/10. Lease 1 is valid from 01/01/06 through 12/31/07, with an additional extension of 3 months until 03/30/08. The AREF assumption is valid from 04/01/08 through 05/31/08. Lease 2 is valid from 06/01/08 through 12/31/09, with an additional extension of 6 months until 06/30/10. The AREF assumption is valid from 06/30/10 through 12/31/10.