<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-NOR-2023-226

This serves as a summary of the commercial lease executed on 2023-01-03 between the Lessor, Salas Group, and Lessee, Fitzpatrick Inc. The subject of this agreement is the Office property at 73506 Sara Corner, Suite 1665, Juliatown, Minnesota 53165, comprising approximately 5,911 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 2023-05-13 and concluding on 2030-05-12. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $35,982.33, payable on a quarterly basis. A security deposit of $35,982.33 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.11 $/sf taking effect on 2024-05-12. Additional rents include Operating Expenses (CAM) (Pro-rata share (11%)), Real Estate Taxes (Pro-rata share (15%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Minor repairs to plumbing and electrical; 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: Premises to be used solely for general office purposes. No hazardous materials permitted on the premises without prior written consent. No structural alterations without Lessor approval.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-NOR-2023-226",
  "document_date": "2023-01-03",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Salas Group",
      "entity_address": "768 Johnson Dam Suite 869\nLeslieview, IL 18211",
      "contact_person": "Rachel Wood"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Fitzpatrick Inc"
    }
  ],
  "property_details": {
    "property_address": "73506 Sara Corner, Suite 1665, Juliatown, Minnesota 53165",
    "square_footage": 5911,
    "property_type": "Office",
    "unit_identifier": "Suite 1665"
  },
  "lease_term": {
    "start_date": "2023-05-13",
    "term_duration_months": 84,
    "renewal_options": [],
    "end_date": "2030-05-12"
  },
  "financial_terms": {
    "base_rent_initial": 35982.33,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-05-12",
        "increase_value": 4.11,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-05-12",
        "increase_value": 4.13,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-05-12",
        "increase_value": 9.75,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 6670.48
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 6433.62
      }
    ],
    "security_deposit_amount": 35982.33
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises",
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}