<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-MIND-2024-200

This serves as a summary of the commercial lease executed on 2024-07-18 between the Lessor, Bates, Saunders and Randall, and Lessee, Skinner and Sons. The subject of this agreement is the Medical Office property at 298 Jacobs Circles Suite 822, Suite 1189, West Chad, Massachusetts 15358, comprising approximately 13,286 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 2024-12-24 and concluding on 2027-12-24. The tenant holds 1 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $7,138.02, payable on a annually basis. A security deposit of $7,138.02 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.75% taking effect on 2025-12-24. Additional rents include Management Fee (Pro-rata share (3%)), Common Area Utilities (Pro-rata share (11%)), Operating Expenses (CAM) (Pro-rata share (9%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Signage must be approved by Lessor. 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-MIND-2024-200",
  "document_date": "2024-07-18",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Bates, Saunders and Randall",
      "entity_address": "4798 Ryan Points\nNew Bethfurt, PR 84474"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Skinner and Sons"
    }
  ],
  "property_details": {
    "property_address": "298 Jacobs Circles Suite 822, Suite 1189, West Chad, Massachusetts 15358",
    "square_footage": 13286,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1189"
  },
  "lease_term": {
    "start_date": "2024-12-24",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2027-12-24"
  },
  "financial_terms": {
    "base_rent_initial": 7138.02,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-12-24",
        "increase_value": 4.75,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-12-24",
        "increase_value": 8.1,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-12-24",
        "increase_value": 8.61,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-12-23",
        "increase_value": 3.51,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (3%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (11%)"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (9%)"
      }
    ],
    "security_deposit_amount": 7138.02
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor.",
    "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."
  }
}