<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-HAIR-2024-686

This serves as a summary of the commercial lease executed on 2024-08-09 between the Lessor, Wright Group, and Lessee, Richardson Ltd. The subject of this agreement is the Medical Office property at 748 Brandy Spring Suite 844, Suite 355, Mitchellhaven, South Carolina 34477, comprising approximately 20,793 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 2024-11-08. The tenant holds 2 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $3,372.65, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 9.1% taking effect on 2025-11-08. Additional rents include Management Fee (Pro-rata share (4%)), Real Estate Taxes (Pass-through).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical; Pest control within the unit. 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. Business operations restricted to 8:00 AM to 10:00 PM.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in North Angelamouth. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-HAIR-2024-686",
  "document_date": "2024-08-09",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Wright Group",
      "entity_address": "155 Wu Squares\nCharlesmouth, NH 67365",
      "contact_person": "Ryan Cook"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Richardson Ltd",
      "entity_address": "56639 Cannon Spring Suite 461\nPort Scottside, DC 73465"
    }
  ],
  "property_details": {
    "property_address": "748 Brandy Spring Suite 844, Suite 355, Mitchellhaven, South Carolina 34477",
    "square_footage": 20793,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 355"
  },
  "lease_term": {
    "start_date": "2024-11-08",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 3372.65,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-11-08",
        "increase_value": 9.1,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-11-08",
        "increase_value": 8.56,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-11-08",
        "increase_value": 2.42,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (4%)"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4601.02
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in North Angelamouth"
  }
}