<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-ONTO-2024-490

This serves as a summary of the commercial lease executed on 2024-06-10 between the Lessor, King, Cortez and Martinez, and Lessee, Mosley, Smith and Anderson. The subject of this agreement is the Medical Office property at 267 Richard Wall Suite 764, Suite 1715, Davidburgh, North Dakota 81507, comprising approximately 11,847 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 2024-11-27. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $49,068.87, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 6.75% taking effect on 2025-11-27. Additional rents include Common Area Utilities (Fixed annual contribution), Operating Expenses (CAM) (Pro-rata share (12%)), Common Area Utilities (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: All utility payments for the premises; Pest control within the unit; Interior non-structural maintenance; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Signage must be approved by Lessor. Premises to be used solely for general office purposes.

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 present in the agreement. Any potential disputes are to be resolved via Binding arbitration in South Joshuaville. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ONTO-2024-490",
  "document_date": "2024-06-10",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "King, Cortez and Martinez",
      "entity_address": "010 Sierra Fort\nMatthewville, AL 86227",
      "contact_person": "Lorraine Valencia"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Mosley, Smith and Anderson",
      "entity_address": "15818 Paul Burg Apt. 079\nWest Anthony, UT 82831"
    }
  ],
  "property_details": {
    "property_address": "267 Richard Wall Suite 764, Suite 1715, Davidburgh, North Dakota 81507",
    "square_footage": 11847,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1715"
  },
  "lease_term": {
    "start_date": "2024-11-27",
    "term_duration_months": 84,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 49068.87,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-11-27",
        "increase_value": 6.75,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-11-27",
        "increase_value": 6.87,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 8476.78
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in South Joshuaville"
  }
}