<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-ARTICLE-2023-680

This serves as a summary of the commercial lease executed on 2023-06-09 between the Lessor, Harrison, Anderson and Thomas, and Lessee, Brown Inc. The subject of this agreement is the Medical Office property at 0187 Vaughn Bypass Suite 107, Suite 1942, Lake Joshuashire, North Carolina 77821, comprising approximately 6,238 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 2023-10-21 and concluding on 2030-10-20. The tenant holds 2 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $55,071.66, payable on a quarterly basis. A security deposit of $110,143.32 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.42 $/sf taking effect on 2024-10-20. Additional rents include Operating Expenses (CAM) (Pass-through), Insurance (Pro-rata share (7%)), Common Area Utilities (Pro-rata share (4%)), Operating Expenses (CAM) (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance. The Lessee's duties include: All utility payments for the premises; Pest control within the unit; Janitorial services within leased premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is notably absent 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-ARTICLE-2023-680",
  "document_date": "2023-06-09",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Harrison, Anderson and Thomas",
      "entity_address": "74261 Carolyn Vista\nLake Noah, IA 12909",
      "contact_person": "Jackson Chase"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Brown Inc"
    }
  ],
  "property_details": {
    "property_address": "0187 Vaughn Bypass Suite 107, Suite 1942, Lake Joshuashire, North Carolina 77821",
    "square_footage": 6238,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1942"
  },
  "lease_term": {
    "start_date": "2023-10-21",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2030-10-20"
  },
  "financial_terms": {
    "base_rent_initial": 55071.66,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-10-20",
        "increase_value": 6.42,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-10-20",
        "increase_value": 4.55,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-10-20",
        "increase_value": 8.74,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-10-20",
        "increase_value": 4.65,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1343.89
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 1417.51
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (4%)",
        "estimated_annual_cost": 5792.97
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution"
      }
    ],
    "security_deposit_amount": 110143.32
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit",
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}