<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-CLEAR-2024-231

This serves as a summary of the commercial lease executed on 2024-01-17 between the Lessor, Rice, Fisher and Rodgers, and Lessee, Clark, Montgomery and Gardner. The subject of this agreement is the Medical Office property at 11417 Murray Port Apt. 274, Suite 1588, Johnsonborough, New Jersey 28586, comprising approximately 21,894 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 2024-05-30 and concluding on 2027-05-30. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $83,627.95, payable on a quarterly basis. A security deposit of $167,255.90 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.21% taking effect on 2025-05-30. Additional rents include Operating Expenses (CAM) (Pro-rata share (5%)), Insurance (Fixed annual contribution), Common Area Utilities (Pro-rata share (10%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Parking lot maintenance. The Lessee's duties include: Interior non-structural maintenance; All utility payments for the premises; Minor repairs to plumbing and electrical; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. 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 present in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Iowa. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-CLEAR-2024-231",
  "document_date": "2024-01-17",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Rice, Fisher and Rodgers",
      "contact_person": "John Evans"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Clark, Montgomery and Gardner",
      "entity_address": "393 Shelby Lodge Apt. 380\nErinville, SC 33659"
    }
  ],
  "property_details": {
    "property_address": "11417 Murray Port Apt. 274, Suite 1588, Johnsonborough, New Jersey 28586",
    "square_footage": 21894,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2024-05-30",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2027-05-30"
  },
  "financial_terms": {
    "base_rent_initial": 83627.95,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-05-30",
        "increase_value": 8.21,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-05-30",
        "increase_value": 3.88,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-05-30",
        "increase_value": 1.66,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-05-29",
        "increase_value": 3.5,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 8063.21
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (10%)"
      }
    ],
    "security_deposit_amount": 167255.9
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Iowa"
  }
}