<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-COUNTRY-2023-450

This serves as a summary of the commercial lease executed on 2023-11-30 between the Lessor, Hutchinson-Sims, and Lessee, Turner Inc. The subject of this agreement is the Industrial property at 42530 Justin Wells, Suite 1912, New Robertside, New Hampshire 97327, comprising approximately 12,462 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 2024-02-13 and concluding on 2029-02-12. 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $8,555.80, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 2.22 $/sf taking effect on 2025-02-12. Additional rents include Common Area Utilities (Pass-through), Common Area Utilities (Fixed annual contribution), Common Area Utilities (Pro-rata share (6%)), Common Area Utilities (Pro-rata share (5%)).

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

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 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-COUNTRY-2023-450",
  "document_date": "2023-11-30",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hutchinson-Sims",
      "entity_address": "6409 Williams Oval Suite 291\nNorth Anita, AR 54958",
      "contact_person": "Leslie Ward"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Turner Inc",
      "entity_address": "81499 Ashley Manors\nGraytown, OR 28635"
    }
  ],
  "property_details": {
    "property_address": "42530 Justin Wells, Suite 1912, New Robertside, New Hampshire 97327",
    "square_footage": 12462,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2024-02-13",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2029-02-12"
  },
  "financial_terms": {
    "base_rent_initial": 8555.8,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-02-12",
        "increase_value": 2.22,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-02-12",
        "increase_value": 2.22,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-02-12",
        "increase_value": 9.7,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7619.04
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (6%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (5%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}