<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-RELATE-2023-417

This serves as a summary of the commercial lease executed on 2023-06-25 between the Lessor, Stark-Ramos, and Lessee, Clark, Martin and Clark. The subject of this agreement is the Medical Office property at 140 Alexandra Expressway, Suite 1587, Ronaldburgh, Mississippi 27351, comprising approximately 16,592 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 2023-10-06 and concluding on 2030-10-05. The tenant holds 2 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $50,201.27, payable on a quarterly basis. A security deposit of $50,201.27 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.8% taking effect on 2024-10-05. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Common Area Utilities (Pro-rata share (9%)), Insurance (Pass-through), Real Estate Taxes (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Structural repairs to building exterior and roof. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance; All utility payments for the premises; Janitorial services within leased premises. 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. 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 notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-RELATE-2023-417",
  "document_date": "2023-06-25",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Stark-Ramos",
      "entity_address": "Unit 9596 Box 5450\nDPO AP 01631",
      "contact_person": "Jose Lopez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Clark, Martin and Clark",
      "entity_address": "1566 Knight Summit Apt. 217\nBrandonfort, SC 20772"
    }
  ],
  "property_details": {
    "property_address": "140 Alexandra Expressway, Suite 1587, Ronaldburgh, Mississippi 27351",
    "square_footage": 16592,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1587"
  },
  "lease_term": {
    "start_date": "2023-10-06",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2030-10-05"
  },
  "financial_terms": {
    "base_rent_initial": 50201.27,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-10-05",
        "increase_value": 4.8,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-10-05",
        "increase_value": 1.46,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-10-05",
        "increase_value": 2.71,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-10-05",
        "increase_value": 4.97,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6762.36
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 8696.01
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9655.33
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (11%)"
      }
    ],
    "security_deposit_amount": 50201.27
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}