<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-HIS-2023-445

This serves as a summary of the commercial lease executed on 2023-03-11 between the Lessor, Heath Inc, and Lessee, Hall, Norton and Moore. The subject of this agreement is the Warehouse property at 72524 Logan Plaza, Suite 1318, Tuckerhaven, North Dakota 89433, comprising approximately 20,587 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 2023-08-14 and concluding on 2026-08-13. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $68,766.91, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 4.35% taking effect on 2024-08-13. Additional rents include Insurance (Fixed annual contribution), Management Fee (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Minor repairs to plumbing and electrical; Janitorial services within leased premises; Interior non-structural maintenance; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent.

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 present 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-HIS-2023-445",
  "document_date": "2023-03-11",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Heath Inc",
      "contact_person": "Justin Lee"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hall, Norton and Moore",
      "entity_address": "52854 Kenneth Flats Suite 725\nSaundersborough, IN 52766"
    }
  ],
  "property_details": {
    "property_address": "72524 Logan Plaza, Suite 1318, Tuckerhaven, North Dakota 89433",
    "square_footage": 20587,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1318"
  },
  "lease_term": {
    "start_date": "2023-08-14",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2026-08-13"
  },
  "financial_terms": {
    "base_rent_initial": 68766.91,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-08-13",
        "increase_value": 4.35,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-13",
        "increase_value": 0.6,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-08-13",
        "increase_value": 1.52,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4354.18
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises",
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}