<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-HOUR-2023-208

This serves as a summary of the commercial lease executed on 2023-03-23 between the Lessor, Mann Group, and Lessee, Daniels-Avery. The subject of this agreement is the Office property at 6117 Myers Union, Suite 604, Port David, South Dakota 76908, comprising approximately 17,073 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 36 months, commencing on 2023-07-24 and concluding on 2026-07-23. The tenant holds 2 option(s) to renew, with the first being for a 60-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 $8,630.53, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 9.5 $/sf taking effect on 2024-07-23. Additional rents include Management Fee (Fixed annual contribution), Operating Expenses (CAM) (Pro-rata share (9%)), Management Fee (Pass-through), Real Estate Taxes (Fixed annual contribution).

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

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. 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 Indiana. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-HOUR-2023-208",
  "document_date": "2023-03-23",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Mann Group",
      "entity_address": "544 Vincent Crest\nNorth Shirleytown, AS 66579",
      "contact_person": "Shane Willis"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Daniels-Avery",
      "entity_address": "2310 Miller Cliffs\nPort Williamfurt, MS 09737"
    }
  ],
  "property_details": {
    "property_address": "6117 Myers Union, Suite 604, Port David, South Dakota 76908",
    "square_footage": 17073,
    "property_type": "Office",
    "unit_identifier": "Suite 604"
  },
  "lease_term": {
    "start_date": "2023-07-24",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2026-07-23"
  },
  "financial_terms": {
    "base_rent_initial": 8630.53,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-07-23",
        "increase_value": 9.5,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-07-23",
        "increase_value": 7.29,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-07-23",
        "increase_value": 7.28,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-07-23",
        "increase_value": 2.55,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 1111.29
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6221.86
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Indiana"
  }
}