<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-MANAGEMENT-2024-601

This serves as a summary of the commercial lease executed on 2024-02-28 between the Lessor, Carroll, Stewart and Walsh, and Lessee, Williams LLC. The subject of this agreement is the Medical Office property at 82183 Shari Valley Suite 670, Suite 1360, Port Rachel, Minnesota 02335, comprising approximately 17,131 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 36 months, commencing on 2024-06-16 and concluding on 2027-06-16. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $7,475.52, payable on a annually basis. A security deposit of $7,475.52 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.69 $/sf taking effect on 2025-06-16. Additional rents include Insurance (Pass-through), Management Fee (Pass-through), Real Estate Taxes (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: Minor repairs to plumbing and electrical; All utility payments for the premises; Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. No hazardous materials permitted on the premises without prior written consent. 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 present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-MANAGEMENT-2024-601",
  "document_date": "2024-02-28",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Carroll, Stewart and Walsh",
      "entity_address": "241 Michael Views\nNew Manuel, MT 99110"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Williams LLC",
      "entity_address": "0998 Potter Junction\nStewartbury, AS 04172"
    }
  ],
  "property_details": {
    "property_address": "82183 Shari Valley Suite 670, Suite 1360, Port Rachel, Minnesota 02335",
    "square_footage": 17131,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1360"
  },
  "lease_term": {
    "start_date": "2024-06-16",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2027-06-16"
  },
  "financial_terms": {
    "base_rent_initial": 7475.52,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-06-16",
        "increase_value": 1.69,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-06-16",
        "increase_value": 5.15,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3885.78
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2171.61
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 7475.52
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}