<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-EASY-2022-693

This serves as a summary of the commercial lease executed on 2022-10-04 between the Lessor, Fuentes, Jimenez and Chapman, and Lessee, Welch, Hughes and Lam. The subject of this agreement is the Medical Office property at 958 John Freeway, Suite 2021, Cynthiahaven, Iowa 51473, comprising approximately 15,938 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 2023-03-12 and concluding on 2026-03-11. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $2,723.33, payable on a monthly basis. A security deposit of $5,446.66 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.43% taking effect on 2024-03-11. Additional rents include Operating Expenses (CAM) (Pass-through), Common Area Utilities (Pro-rata share (2%)), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit; Janitorial services within leased premises; All utility payments for the premises. 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. No structural alterations without Lessor approval.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-EASY-2022-693",
  "document_date": "2022-10-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Fuentes, Jimenez and Chapman",
      "entity_address": "7639 Reed Flat Suite 642\nSaundersview, DE 41774",
      "contact_person": "John Hahn"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Welch, Hughes and Lam",
      "entity_address": "422 Christina Island Suite 102\nJennifertown, GA 62361"
    }
  ],
  "property_details": {
    "property_address": "958 John Freeway, Suite 2021, Cynthiahaven, Iowa 51473",
    "square_footage": 15938,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2023-03-12",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2026-03-11"
  },
  "financial_terms": {
    "base_rent_initial": 2723.33,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-03-11",
        "increase_value": 3.43,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-11",
        "increase_value": 7.65,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-11",
        "increase_value": 0.88,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9082.17
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 9891.4
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2440.53
      }
    ],
    "security_deposit_amount": 5446.66
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}