<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-YEAR-2023-266

This serves as a summary of the commercial lease executed on 2023-07-22 between the Lessor, Curry-Williams, and Lessee, Spencer, Jones and Jenkins. The subject of this agreement is the Medical Office property at 25024 Mayo Fords Suite 435, Suite 248, Dwayneton, Iowa 30865, comprising approximately 8,371 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 120 months, commencing on 2023-08-29 and concluding on 2033-08-28. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $44,107.43, payable on a quarterly basis. A security deposit of $88,214.86 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.51 $/sf taking effect on 2024-08-28. Additional rents include Operating Expenses (CAM) (Pro-rata share (15%)), Management Fee (Fixed annual contribution), Operating Expenses (CAM) (Pass-through), Common Area Utilities (Pro-rata share (8%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof. The Lessee's duties include: Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: 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: Requires prior written consent from Lessor, not to be unreasonably withheld. 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-YEAR-2023-266",
  "document_date": "2023-07-22",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Curry-Williams"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Spencer, Jones and Jenkins"
    }
  ],
  "property_details": {
    "property_address": "25024 Mayo Fords Suite 435, Suite 248, Dwayneton, Iowa 30865",
    "square_footage": 8371,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2023-08-29",
    "term_duration_months": 120,
    "renewal_options": [],
    "end_date": "2033-08-28"
  },
  "financial_terms": {
    "base_rent_initial": 44107.43,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-08-28",
        "increase_value": 2.51,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-08-28",
        "increase_value": 8.67,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 7215.21
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3443.37
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2002.88
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 7228.16
      }
    ],
    "security_deposit_amount": 88214.86
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "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": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}