<format type="json">{agreement_id: string, document_date: date, lease_parties: list[{party_type: string, entity_name: string, entity_address: string optional, contact_person: string optional}], property_details: {property_address: string, unit_identifier: string optional, square_footage: number, property_type: string}, lease_term: {start_date: date, end_date: date optional, term_duration_months: number, renewal_options: list[{option_number: number, renewal_period_months: number, notice_period_days: number, rent_escalation_method: string}]}, financial_terms: {base_rent_initial: number, rent_frequency: string, security_deposit_amount: number optional, escalation_schedule: list[{escalation_type: string, effective_date: date, increase_value: number, increase_unit: string}], additional_rent_components: list[{component_name: string, payment_structure: string, estimated_annual_cost: number optional}]}, maintenance_obligations: {lessor_responsibilities: list[string], lessee_responsibilities: list[string]}, use_restrictions: list[string], legal_provisions: {force_majeure_clause_present: boolean, sublease_assignment_terms: string, dispute_resolution_method: string optional}}</format> <data>**INTERNAL MEMORANDUM - LEASE ABSTRACT**

**TO:** Portfolio Management Team
**FROM:** Legal & Compliance Dept.
**DATE:** 2025-08-13
**RE: Summary of Executed Lease Agreement: LEASE-ANSWER-2023-665

This serves as a summary of the commercial lease executed on 2023-12-22 between the Lessor, Burke-Hernandez, and Lessee, Estes-Sullivan. The subject of this agreement is the Medical Office property at 481 Thomas Turnpike Apt. 440, Suite 1210, Joelberg, Georgia 81069, comprising approximately 6,245 square feet. All relevant documentation has been filed under our standard procedures, and the original document is stored in the main vault.

The lease term is set for 72 months, commencing on 2024-03-28 and concluding on 2030-03-28. The tenant holds 1 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $17,469.26, payable on a monthly basis. A security deposit of $17,469.26 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.19% taking effect on 2025-03-28. Additional rents include Management Fee (Pro-rata share (13%)), Common Area Utilities (Pro-rata share (2%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal; Structural repairs to building exterior and roof. The Lessee's duties include: Janitorial services within leased premises; All utility payments for the premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted only to an affiliate entity with 30 days prior notice. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Ohio. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ANSWER-2023-665",
  "document_date": "2023-12-22",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Burke-Hernandez",
      "entity_address": "7728 Heather Camp Suite 612\nRussellburgh, AR 67465",
      "contact_person": "Todd Harmon"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Estes-Sullivan",
      "entity_address": "9066 Hensley Club\nWest Colton, NE 89841"
    }
  ],
  "property_details": {
    "property_address": "481 Thomas Turnpike Apt. 440, Suite 1210, Joelberg, Georgia 81069",
    "square_footage": 6245,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1210"
  },
  "lease_term": {
    "start_date": "2024-03-28",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-03-28"
  },
  "financial_terms": {
    "base_rent_initial": 17469.26,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-03-28",
        "increase_value": 8.19,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-28",
        "increase_value": 0.14,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-03-28",
        "increase_value": 6.38,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-03-27",
        "increase_value": 9.31,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 4488.27
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 8513.01
      }
    ],
    "security_deposit_amount": 17469.26
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "All utility payments for the premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Ohio"
  }
}