<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-REASON-2023-312

This serves as a summary of the commercial lease executed on 2023-02-20 between the Lessor, Jensen LLC, and Lessee, Smith-Yates. The subject of this agreement is the Medical Office property at 7979 Bryan Square, Suite 2202, Jenniferside, Indiana 82641, comprising approximately 13,665 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 2023-07-12 and concluding on 2028-07-11. 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 $9,448.37, payable on a annually basis. A security deposit of $9,448.37 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.52% taking effect on 2024-07-11. Additional rents include Common Area Utilities (Pass-through), Operating Expenses (CAM) (Pass-through), Management Fee (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: 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 only to an affiliate entity with 30 days prior notice. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Binding arbitration in North Christopher. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-REASON-2023-312",
  "document_date": "2023-02-20",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Jensen LLC",
      "entity_address": "750 Stephen Meadow\nNew Tylerhaven, AR 90061",
      "contact_person": "Carla Harris"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Smith-Yates",
      "entity_address": "5819 Carpenter Turnpike Apt. 348\nWest Christopher, VT 24039"
    }
  ],
  "property_details": {
    "property_address": "7979 Bryan Square, Suite 2202, Jenniferside, Indiana 82641",
    "square_footage": 13665,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2023-07-12",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2028-07-11"
  },
  "financial_terms": {
    "base_rent_initial": 9448.37,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-07-11",
        "increase_value": 6.52,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-07-11",
        "increase_value": 6.49,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5904.73
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5755.66
      }
    ],
    "security_deposit_amount": 9448.37
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Binding arbitration in North Christopher"
  }
}