<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-REALITY-2023-812

This serves as a summary of the commercial lease executed on 2023-12-12 between the Lessor, Delgado-Ramos, and Lessee, Bennett-Kemp. The subject of this agreement is the Medical Office property at 422 Allison Fall Suite 884, Suite 1336, Christopherbury, South Carolina 28524, comprising approximately 7,508 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 2024-04-19 and concluding on 2027-04-19. The tenant holds 1 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $57,807.81, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 5.96 $/sf taking effect on 2025-04-19. Additional rents include Operating Expenses (CAM) (Pass-through), Operating Expenses (CAM) (Fixed annual contribution), Management Fee (Pro-rata share (3%)), Management Fee (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: All utility payments for the premises; Janitorial services within leased premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. 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 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-REALITY-2023-812",
  "document_date": "2023-12-12",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Delgado-Ramos",
      "entity_address": "8619 Rebecca Spur\nSouth Tinaborough, MP 69423",
      "contact_person": "Amber Fields"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Bennett-Kemp",
      "entity_address": "PSC 3139, Box 4756\nAPO AA 50815"
    }
  ],
  "property_details": {
    "property_address": "422 Allison Fall Suite 884, Suite 1336, Christopherbury, South Carolina 28524",
    "square_footage": 7508,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1336"
  },
  "lease_term": {
    "start_date": "2024-04-19",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2027-04-19"
  },
  "financial_terms": {
    "base_rent_initial": 57807.81,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-04-19",
        "increase_value": 5.96,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-04-19",
        "increase_value": 4.91,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-04-19",
        "increase_value": 6.81,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1854.69
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9793.81
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (3%)"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3304.46
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor."
  ],
  "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."
  }
}