<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-IMPACT-2023-111

This serves as a summary of the commercial lease executed on 2023-03-19 between the Lessor, Brown PLC, and Lessee, Morton-Ritter. The subject of this agreement is the Medical Office property at 3177 Kevin Brook, Suite 1191, Joshuachester, Mississippi 33373, comprising approximately 2,321 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 120 months, commencing on 2023-08-22. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $16,494.29, payable on a annually basis. A security deposit of $16,494.29 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.7% taking effect on 2024-08-21. Additional rents include Real Estate Taxes (Pro-rata share (7%)), Operating Expenses (CAM) (Pass-through), Common Area Utilities (Fixed annual contribution), Real Estate Taxes (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent. No structural alterations without Lessor approval.

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 Mediation followed by litigation in the State of Tennessee. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-IMPACT-2023-111",
  "document_date": "2023-03-19",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Brown PLC",
      "entity_address": "552 Davis Brooks Suite 690\nEast Jessicafurt, TX 26785",
      "contact_person": "Stephen Dean"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Morton-Ritter"
    }
  ],
  "property_details": {
    "property_address": "3177 Kevin Brook, Suite 1191, Joshuachester, Mississippi 33373",
    "square_footage": 2321,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1191"
  },
  "lease_term": {
    "start_date": "2023-08-22",
    "term_duration_months": 120,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 16494.29,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-08-21",
        "increase_value": 8.7,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-08-21",
        "increase_value": 4.1,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 8773.52
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4541.21
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2046.72
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7007.77
      }
    ],
    "security_deposit_amount": 16494.29
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval."
  ],
  "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": "Mediation followed by litigation in the State of Tennessee"
  }
}