<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-THINK-2023-485

This serves as a summary of the commercial lease executed on 2023-05-05 between the Lessor, Williams Group, and Lessee, Sharp Inc. The subject of this agreement is the Medical Office property at 8884 James Light Suite 963, Suite 334, South Karen, Delaware 03333, comprising approximately 12,483 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 2023-08-25 and concluding on 2028-08-24. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $3,226.32, payable on a quarterly basis. A security deposit of $3,226.32 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.42 $/sf taking effect on 2024-08-24. Additional rents include Common Area Utilities (Pro-rata share (13%)), Insurance (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Landscaping and snow removal. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Business operations restricted to 8:00 AM to 10:00 PM. Signage must be approved by Lessor.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-THINK-2023-485",
  "document_date": "2023-05-05",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Williams Group",
      "entity_address": "535 Becky Plains\nNew Eugene, DC 79370",
      "contact_person": "Lisa Mitchell"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Sharp Inc",
      "entity_address": "8064 Mata Village\nNorth Michaelmouth, GU 61195"
    }
  ],
  "property_details": {
    "property_address": "8884 James Light Suite 963, Suite 334, South Karen, Delaware 03333",
    "square_footage": 12483,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2023-08-25",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2028-08-24"
  },
  "financial_terms": {
    "base_rent_initial": 3226.32,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-08-24",
        "increase_value": 2.42,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-24",
        "increase_value": 2.13,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-08-24",
        "increase_value": 9.96,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (13%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7732.21
      }
    ],
    "security_deposit_amount": 3226.32
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}