<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-BED-2024-971

This serves as a summary of the commercial lease executed on 2024-04-20 between the Lessor, Wu and Sons, and Lessee, Thornton Group. The subject of this agreement is the Medical Office property at 86187 Benjamin Mission, Suite 2482, North Sarah, Wyoming 65328, comprising approximately 7,880 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 2024-07-21 and concluding on 2029-07-21. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $26,068.29, payable on a monthly basis. A security deposit of $26,068.29 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 5.72% taking effect on 2025-07-21. Additional rents include Operating Expenses (CAM) (Pass-through), Common Area Utilities (Pass-through), Insurance (Pro-rata share (15%)), Operating Expenses (CAM) (Pro-rata share (7%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance; Pest control within the unit; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BED-2024-971",
  "document_date": "2024-04-20",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Wu and Sons",
      "entity_address": "3145 Davidson Orchard Suite 400\nPerryton, AR 04299",
      "contact_person": "Sheila Roberts"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Thornton Group",
      "entity_address": "29295 Christopher Station Apt. 179\nLake Carmen, MN 74034"
    }
  ],
  "property_details": {
    "property_address": "86187 Benjamin Mission, Suite 2482, North Sarah, Wyoming 65328",
    "square_footage": 7880,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 2482"
  },
  "lease_term": {
    "start_date": "2024-07-21",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2029-07-21"
  },
  "financial_terms": {
    "base_rent_initial": 26068.29,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-21",
        "increase_value": 5.72,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-07-21",
        "increase_value": 7.3,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7859.05
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 1129.11
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (7%)"
      }
    ],
    "security_deposit_amount": 26068.29
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}