<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-EVENT-2024-425

This serves as a summary of the commercial lease executed on 2024-04-03 between the Lessor, Lee-Hernandez, and Lessee, Holloway PLC. The subject of this agreement is the Medical Office property at 3074 Anthony Expressway, Suite 1869, East Michealport, South Dakota 38112, comprising approximately 5,426 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 2024-08-24 and concluding on 2029-08-24. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $53,747.12, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 7.08 $/sf taking effect on 2025-08-24. Additional rents include Real Estate Taxes (Fixed annual contribution), Management Fee (Pass-through), Management Fee (Pro-rata share (10%)), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; Pest control within the unit; Minor repairs to plumbing and electrical; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. 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 Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-EVENT-2024-425",
  "document_date": "2024-04-03",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Lee-Hernandez",
      "contact_person": "Danny Griffith"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Holloway PLC",
      "entity_address": "1600 Todd Flat Suite 120\nTravisland, IA 16970"
    }
  ],
  "property_details": {
    "property_address": "3074 Anthony Expressway, Suite 1869, East Michealport, South Dakota 38112",
    "square_footage": 5426,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2024-08-24",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2029-08-24"
  },
  "financial_terms": {
    "base_rent_initial": 53747.12,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-24",
        "increase_value": 7.08,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-08-24",
        "increase_value": 5.86,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6814.44
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (10%)",
        "estimated_annual_cost": 9431.81
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3031.56
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "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": "Litigation in the jurisdiction of the property location."
  }
}