<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-APPEAR-2024-569

This serves as a summary of the commercial lease executed on 2024-02-15 between the Lessor, Wheeler and Sons, and Lessee, Stephens-Brooks. The subject of this agreement is the Medical Office property at 6693 Wu Vista, Suite 1460, South Heather, Rhode Island 69729, comprising approximately 18,609 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 84 months, commencing on 2024-04-12 and concluding on 2031-04-12. The tenant holds 1 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $4,003.62, payable on a annually basis. A security deposit of $8,007.24 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.39 $/sf taking effect on 2025-04-12. Additional rents include Management Fee (Fixed annual contribution), Insurance (Fixed annual contribution), Management Fee (Pro-rata share (8%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal; Parking lot maintenance. The Lessee's duties include: All utility payments for the premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in New Amandahaven. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-APPEAR-2024-569",
  "document_date": "2024-02-15",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Wheeler and Sons",
      "entity_address": "609 Kimberly Brooks\nPort Jasminefort, DC 69883",
      "contact_person": "Stephanie Moreno"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Stephens-Brooks"
    }
  ],
  "property_details": {
    "property_address": "6693 Wu Vista, Suite 1460, South Heather, Rhode Island 69729",
    "square_footage": 18609,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1460"
  },
  "lease_term": {
    "start_date": "2024-04-12",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2031-04-12"
  },
  "financial_terms": {
    "base_rent_initial": 4003.62,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-04-12",
        "increase_value": 1.39,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-04-12",
        "increase_value": 1.67,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-04-12",
        "increase_value": 7.16,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (8%)"
      }
    ],
    "security_deposit_amount": 8007.24
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in New Amandahaven"
  }
}