<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-EMPLOYEE-2023-944

This serves as a summary of the commercial lease executed on 2023-06-17 between the Lessor, Miller and Sons, and Lessee, White Inc. The subject of this agreement is the Medical Office property at 702 Hutchinson Via Apt. 096, Suite 2116, East William, Colorado 95952, comprising approximately 3,202 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 60 months, commencing on 2023-08-12 and concluding on 2028-08-11. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $2,393.82, payable on a quarterly basis. A security deposit of $2,393.82 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.7% taking effect on 2024-08-11. Additional rents include Management Fee (Pass-through), Operating Expenses (CAM) (Fixed annual contribution), Real Estate Taxes (Pro-rata share (11%)), Real Estate Taxes (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: All utility payments for the premises; Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent. Business operations restricted to 8:00 AM to 10:00 PM.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Davisview. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-EMPLOYEE-2023-944",
  "document_date": "2023-06-17",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Miller and Sons",
      "entity_address": "86736 James Shore Suite 935\nMatthewville, GU 26704",
      "contact_person": "Jacqueline Mendoza"
    },
    {
      "party_type": "Lessee",
      "entity_name": "White Inc"
    }
  ],
  "property_details": {
    "property_address": "702 Hutchinson Via Apt. 096, Suite 2116, East William, Colorado 95952",
    "square_footage": 3202,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 2116"
  },
  "lease_term": {
    "start_date": "2023-08-12",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2028-08-11"
  },
  "financial_terms": {
    "base_rent_initial": 2393.82,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-08-11",
        "increase_value": 4.7,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-08-11",
        "increase_value": 7.4,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-08-11",
        "increase_value": 5.45,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1610.46
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 4388.76
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6188.69
      }
    ],
    "security_deposit_amount": 2393.82
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in Davisview"
  }
}