<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-ANOTHER-2023-573

This serves as a summary of the commercial lease executed on 2023-05-06 between the Lessor, Duffy Group, and Lessee, Vang PLC. The subject of this agreement is the Medical Office property at 952 Davis Common Suite 737, Suite 949, South Kennethchester, Vermont 79743, comprising approximately 15,684 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 2023-08-19 and concluding on 2028-08-18. The tenant holds 2 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $7,779.23, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 6.45 $/sf taking effect on 2024-08-18. Additional rents include Management Fee (Pro-rata share (2%)), Common Area Utilities (Pro-rata share (6%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Interior non-structural maintenance; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent. Business operations restricted to 8:00 AM to 10:00 PM.

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-ANOTHER-2023-573",
  "document_date": "2023-05-06",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Duffy Group",
      "entity_address": "94265 Barrera Streets\nFoxberg, NC 16061"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Vang PLC",
      "entity_address": "208 Matthew Neck Apt. 212\nAlexville, NM 83935"
    }
  ],
  "property_details": {
    "property_address": "952 Davis Common Suite 737, Suite 949, South Kennethchester, Vermont 79743",
    "square_footage": 15684,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 949"
  },
  "lease_term": {
    "start_date": "2023-08-19",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2028-08-18"
  },
  "financial_terms": {
    "base_rent_initial": 7779.23,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-08-18",
        "increase_value": 6.45,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-08-18",
        "increase_value": 4.99,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-08-18",
        "increase_value": 3.9,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 7039.62
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (6%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}