<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-ENTIRE-2023-472

This serves as a summary of the commercial lease executed on 2023-11-16 between the Lessor, Martin, Hammond and Edwards, and Lessee, Nelson, Whitaker and Lucero. The subject of this agreement is the Medical Office property at 199 Steve Ranch, Suite 1842, Lake Robin, Mississippi 24532, comprising approximately 13,051 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 60 months, commencing on 2024-01-03 and concluding on 2029-01-02. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $39,508.09, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 9.61% taking effect on 2025-01-02. Additional rents include Operating Expenses (CAM) (Pass-through), Operating Expenses (CAM) (Fixed annual contribution), Real Estate Taxes (Fixed annual contribution), Insurance (Pro-rata share (13%)).

Regarding property maintenance, the Lessor is responsible for: 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; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. 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. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Oregon. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ENTIRE-2023-472",
  "document_date": "2023-11-16",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Martin, Hammond and Edwards",
      "entity_address": "94689 Snyder River\nNew David, MS 56086",
      "contact_person": "Victor Smith"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Nelson, Whitaker and Lucero"
    }
  ],
  "property_details": {
    "property_address": "199 Steve Ranch, Suite 1842, Lake Robin, Mississippi 24532",
    "square_footage": 13051,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1842"
  },
  "lease_term": {
    "start_date": "2024-01-03",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2029-01-02"
  },
  "financial_terms": {
    "base_rent_initial": 39508.09,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-01-02",
        "increase_value": 9.61,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-01-02",
        "increase_value": 1.44,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8897.96
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 2522.55
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "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.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Oregon"
  }
}