<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-ONCE-2024-915

This serves as a summary of the commercial lease executed on 2024-05-06 between the Lessor, Hanson PLC, and Lessee, Turner-Welch. The subject of this agreement is the Medical Office property at 85184 Jeffrey Junction Suite 787, Suite 1603, Morrisonstad, Alaska 70196, comprising approximately 10,563 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 2024-10-11. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $21,277.65, payable on a annually basis. A security deposit of $21,277.65 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.4% taking effect on 2025-10-11. Additional rents include Real Estate Taxes (Pro-rata share (9%)), Operating Expenses (CAM) (Pass-through), Insurance (Pro-rata share (8%)), Common Area Utilities (Pro-rata share (13%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal; Parking lot maintenance. The Lessee's duties include: Pest control within the unit; Janitorial services within leased premises; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Port Michaelberg. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ONCE-2024-915",
  "document_date": "2024-05-06",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hanson PLC",
      "entity_address": "1911 Blackwell Islands\nWest Peterfurt, MT 22536",
      "contact_person": "Nicole Juarez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Turner-Welch"
    }
  ],
  "property_details": {
    "property_address": "85184 Jeffrey Junction Suite 787, Suite 1603, Morrisonstad, Alaska 70196",
    "square_footage": 10563,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2024-10-11",
    "term_duration_months": 120,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 21277.65,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-10-11",
        "increase_value": 0.4,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-10-11",
        "increase_value": 8.15,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 4097.37
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (8%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (13%)"
      }
    ],
    "security_deposit_amount": 21277.65
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in Port Michaelberg"
  }
}