<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-BEFORE-2022-229

This serves as a summary of the commercial lease executed on 2022-12-15 between the Lessor, Walsh, Hernandez and Moody, and Lessee, Ellis, Nelson and Padilla. The subject of this agreement is the Medical Office property at 071 Richard Stream Suite 763, Suite 2242, Delacruzville, Tennessee 64164, comprising approximately 3,960 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 2022-12-20 and concluding on 2025-12-19. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $4,888.70, payable on a annually basis. A security deposit of $9,777.40 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.22 $/sf taking effect on 2023-12-20. Additional rents include Real Estate Taxes (Fixed annual contribution), Insurance (Fixed annual contribution), Management Fee (Pro-rata share (15%)), Insurance (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Landscaping and snow removal; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit; Minor repairs to plumbing and electrical; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. 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: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BEFORE-2022-229",
  "document_date": "2022-12-15",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Walsh, Hernandez and Moody",
      "entity_address": "69139 Webb Oval\nEdwardsfurt, WA 56275",
      "contact_person": "Matthew Green"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ellis, Nelson and Padilla",
      "entity_address": "152 Oconnell Crossing\nLambport, UT 91746"
    }
  ],
  "property_details": {
    "property_address": "071 Richard Stream Suite 763, Suite 2242, Delacruzville, Tennessee 64164",
    "square_footage": 3960,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 2242"
  },
  "lease_term": {
    "start_date": "2022-12-20",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2025-12-19"
  },
  "financial_terms": {
    "base_rent_initial": 4888.7,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2023-12-20",
        "increase_value": 9.22,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-12-19",
        "increase_value": 7.55,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-12-19",
        "increase_value": 0.81,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-12-19",
        "increase_value": 4.26,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6989.33
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2106.67
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 1139.32
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2966.87
      }
    ],
    "security_deposit_amount": 9777.4
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "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": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}