<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-NATIONAL-2023-425

This serves as a summary of the commercial lease executed on 2023-08-29 between the Lessor, Webb-Anderson, and Lessee, Sutton LLC. The subject of this agreement is the Medical Office property at 3454 Garrett Street Suite 128, Suite 2366, Port Alexander, Alaska 58752, comprising approximately 19,904 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 2023-09-13 and concluding on 2028-09-12. 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 Market Rate.

Financial obligations begin with an initial base rent of $91,974.95, payable on a monthly basis. A security deposit of $183,949.90 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.37% taking effect on 2024-09-12. Additional rents include Management Fee (Pro-rata share (8%)), Insurance (Pro-rata share (3%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit; Interior non-structural maintenance; Janitorial services within leased 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.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted only to an affiliate entity with 30 days prior notice. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of New Hampshire. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-NATIONAL-2023-425",
  "document_date": "2023-08-29",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Webb-Anderson",
      "entity_address": "081 Tamara Cliffs\nEast Jessica, WI 40656",
      "contact_person": "Dave Floyd"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Sutton LLC",
      "entity_address": "917 Day Highway Suite 699\nAngelaborough, NC 46844"
    }
  ],
  "property_details": {
    "property_address": "3454 Garrett Street Suite 128, Suite 2366, Port Alexander, Alaska 58752",
    "square_footage": 19904,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 2366"
  },
  "lease_term": {
    "start_date": "2023-09-13",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2028-09-12"
  },
  "financial_terms": {
    "base_rent_initial": 91974.95,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-09-12",
        "increase_value": 2.37,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-09-12",
        "increase_value": 3.55,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-09-12",
        "increase_value": 8.52,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 9544.54
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 8582.87
      }
    ],
    "security_deposit_amount": 183949.9
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of New Hampshire"
  }
}