<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-FACTOR-2024-877

This serves as a summary of the commercial lease executed on 2024-07-04 between the Lessor, Flynn, Rodriguez and Dalton, and Lessee, Rivera, Taylor and Thomas. The subject of this agreement is the Medical Office property at 193 Aaron Burgs Apt. 863, Suite 2336, West Davidfurt, Tennessee 61240, comprising approximately 16,459 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 2024-11-30 and concluding on 2027-11-30. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $91,628.28, payable on a monthly basis. A security deposit of $183,256.56 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.57 $/sf taking effect on 2025-11-30. Additional rents include Operating Expenses (CAM) (Pro-rata share (3%)), Operating Expenses (CAM) (Pass-through), Common Area Utilities (Fixed annual contribution), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: Pest control within the unit; Minor repairs to plumbing and electrical; All utility payments for the premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. Business operations restricted to 8:00 AM to 10:00 PM.

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 Mediation followed by litigation in the State of Massachusetts. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-FACTOR-2024-877",
  "document_date": "2024-07-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Flynn, Rodriguez and Dalton",
      "entity_address": "53944 Beck Road Suite 978\nChristinaton, TN 90463",
      "contact_person": "Robert Griffin"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Rivera, Taylor and Thomas",
      "entity_address": "59926 Todd Isle Apt. 929\nLake Jamesmouth, RI 21749"
    }
  ],
  "property_details": {
    "property_address": "193 Aaron Burgs Apt. 863, Suite 2336, West Davidfurt, Tennessee 61240",
    "square_footage": 16459,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2024-11-30",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2027-11-30"
  },
  "financial_terms": {
    "base_rent_initial": 91628.28,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-11-30",
        "increase_value": 4.57,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-11-30",
        "increase_value": 4.51,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-11-30",
        "increase_value": 7.85,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-11-29",
        "increase_value": 4.3,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 1044.76
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1630.16
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 183256.56
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "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": "Mediation followed by litigation in the State of Massachusetts"
  }
}