Because rental agreement straddles one year to two years time frame, hence if you chose not to exercise and specifically sign a document to extend the tenancy for a year, yes you are locked down. The water price is subject to 25 yearly review, it does not lapse if a new price is not concluded within the next couple of years. Mind you, Mudland DID raise the request, Singapore disagree. Just because one party disagree and the new price is not concluded in 1987, it cannot make the right to review lapse. Does not make sense. Otherwise Singapore just have to keep disagreeing till the year passes.