<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-BOTH-2023-682

This serves as a summary of the commercial lease executed on 2023-06-13 between the Lessor, Wheeler-Franklin, and Lessee, Williams, Estrada and Anderson. The subject of this agreement is the Medical Office property at 79855 Melissa Gardens Suite 748, Suite 383, New William, Mississippi 40702, comprising approximately 14,845 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 84 months, commencing on 2023-08-02. The tenant holds 2 option(s) to renew, with the first being for a 36-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 $69,864.21, payable on a annually basis. A security deposit of $69,864.21 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.77% taking effect on 2024-08-01. Additional rents include Common Area Utilities (Pass-through), Operating Expenses (CAM) (Pass-through), Management Fee (Pro-rata share (10%)), Operating Expenses (CAM) (Pro-rata share (6%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance. The Lessee's duties include: Interior non-structural maintenance; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. 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: 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 Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BOTH-2023-682",
  "document_date": "2023-06-13",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Wheeler-Franklin",
      "contact_person": "Lori Chambers"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Williams, Estrada and Anderson",
      "entity_address": "3164 Brian Curve Suite 917\nLittlefurt, MO 95622"
    }
  ],
  "property_details": {
    "property_address": "79855 Melissa Gardens Suite 748, Suite 383, New William, Mississippi 40702",
    "square_footage": 14845,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 383"
  },
  "lease_term": {
    "start_date": "2023-08-02",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 69864.21,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-08-01",
        "increase_value": 8.77,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-08-01",
        "increase_value": 8.64,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-08-01",
        "increase_value": 7.65,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-08-01",
        "increase_value": 6.75,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5579.64
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3057.39
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (10%)",
        "estimated_annual_cost": 8491.87
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 4376.62
      }
    ],
    "security_deposit_amount": 69864.21
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "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": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}