<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-EDGE-2023-478

This serves as a summary of the commercial lease executed on 2023-06-14 between the Lessor, Hunter-Ray, and Lessee, Hall, Wong and Reid. The subject of this agreement is the Medical Office property at 699 Donna Plain Suite 342, Suite 643, Wayneport, North Carolina 68792, comprising approximately 19,304 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 2023-09-05 and concluding on 2033-09-04. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $51,442.66, payable on a annually basis. A security deposit of $51,442.66 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.43% taking effect on 2024-09-04. Additional rents include Management Fee (Fixed annual contribution), Operating Expenses (CAM) (Pass-through), Operating Expenses (CAM) (Pro-rata share (9%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Parking lot maintenance; Landscaping and snow removal. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. Signage must be approved by Lessor.

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-EDGE-2023-478",
  "document_date": "2023-06-14",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hunter-Ray",
      "entity_address": "63342 Virginia Village\nJonathanmouth, MP 93313"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hall, Wong and Reid",
      "entity_address": "987 Carolyn Union\nNew Davidside, AS 73519"
    }
  ],
  "property_details": {
    "property_address": "699 Donna Plain Suite 342, Suite 643, Wayneport, North Carolina 68792",
    "square_footage": 19304,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2023-09-05",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2033-09-04"
  },
  "financial_terms": {
    "base_rent_initial": 51442.66,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-09-04",
        "increase_value": 0.43,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-09-04",
        "increase_value": 1.36,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-09-04",
        "increase_value": 9.23,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (9%)"
      }
    ],
    "security_deposit_amount": 51442.66
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}