<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-THOSE-2023-429

This serves as a summary of the commercial lease executed on 2023-04-10 between the Lessor, Johnson-Erickson, and Lessee, Ward and Sons. The subject of this agreement is the Medical Office property at 64170 Brown Roads, Suite 2029, Huangport, Vermont 84026, comprising approximately 13,863 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 2023-07-07 and concluding on 2026-07-06. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $9,133.28, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 4.54 $/sf taking effect on 2024-07-06. Additional rents include Real Estate Taxes (Pass-through), Insurance (Pass-through), Common Area Utilities (Fixed annual contribution), Insurance (Pro-rata share (10%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal; HVAC system maintenance and replacement. The Lessee's duties include: Pest control within the unit; All utility payments for the premises; Interior non-structural maintenance; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No hazardous materials permitted on the premises without prior written consent.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-THOSE-2023-429",
  "document_date": "2023-04-10",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Johnson-Erickson",
      "entity_address": "6035 Madden Skyway\nEast Daniel, VA 67018",
      "contact_person": "Amber Coleman"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ward and Sons",
      "entity_address": "10802 Davis Burgs\nMurrayburgh, OR 04372"
    }
  ],
  "property_details": {
    "property_address": "64170 Brown Roads, Suite 2029, Huangport, Vermont 84026",
    "square_footage": 13863,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 2029"
  },
  "lease_term": {
    "start_date": "2023-07-07",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2026-07-06"
  },
  "financial_terms": {
    "base_rent_initial": 9133.28,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-07-06",
        "increase_value": 4.54,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-06",
        "increase_value": 7.89,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6878.97
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7303.35
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (10%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}