<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-BLACK-2023-395

This serves as a summary of the commercial lease executed on 2023-02-14 between the Lessor, Ramsey-Rogers, and Lessee, Sullivan Inc. The subject of this agreement is the Office property at 930 Lisa Gateway, Suite 2304, Dixonborough, Georgia 74486, comprising approximately 4,487 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 2023-07-02. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $5,030.08, payable on a annually basis. A security deposit of $5,030.08 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.17 $/sf taking effect on 2024-07-01. Additional rents include Insurance (Pro-rata share (9%)), Operating Expenses (CAM) (Fixed annual contribution), Management Fee (Pass-through), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. 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: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Markhaven. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BLACK-2023-395",
  "document_date": "2023-02-14",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Ramsey-Rogers",
      "entity_address": "800 Jacob Estate\nJessicaside, GA 80143",
      "contact_person": "Pamela Wright"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Sullivan Inc",
      "entity_address": "PSC 5352, Box 5752\nAPO AP 99298"
    }
  ],
  "property_details": {
    "property_address": "930 Lisa Gateway, Suite 2304, Dixonborough, Georgia 74486",
    "square_footage": 4487,
    "property_type": "Office",
    "unit_identifier": "Suite 2304"
  },
  "lease_term": {
    "start_date": "2023-07-02",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 5030.08,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-07-01",
        "increase_value": 8.17,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-01",
        "increase_value": 1.92,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-07-01",
        "increase_value": 1.15,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (9%)"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6798.13
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5333.34
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8578.34
      }
    ],
    "security_deposit_amount": 5030.08
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in Markhaven"
  }
}