<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-WOULD-2023-302

This serves as a summary of the commercial lease executed on 2023-12-18 between the Lessor, Parsons, Matthews and Roberts, and Lessee, Stone-Bradshaw. The subject of this agreement is the Office property at 52557 Simmons Squares, Suite 1863, South Carmen, South Carolina 44293, comprising approximately 9,912 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 120 months, commencing on 2024-01-02. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $35,185.74, payable on a quarterly basis. A security deposit of $70,371.48 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.62% taking effect on 2025-01-01. Additional rents include Management Fee (Pro-rata share (13%)), Operating Expenses (CAM) (Pro-rata share (6%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal; HVAC system maintenance and replacement. The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. No structural alterations without Lessor approval. Business operations restricted to 8:00 AM to 10:00 PM.

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 Mediation followed by litigation in the State of North Carolina. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-WOULD-2023-302",
  "document_date": "2023-12-18",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Parsons, Matthews and Roberts",
      "entity_address": "576 Reed Drive\nJaredbury, IN 54317",
      "contact_person": "Brandy Scott"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Stone-Bradshaw",
      "entity_address": "4428 Jackson Shoal\nTerrychester, FL 14281"
    }
  ],
  "property_details": {
    "property_address": "52557 Simmons Squares, Suite 1863, South Carmen, South Carolina 44293",
    "square_footage": 9912,
    "property_type": "Office",
    "unit_identifier": "Suite 1863"
  },
  "lease_term": {
    "start_date": "2024-01-02",
    "term_duration_months": 120,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 35185.74,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-01-01",
        "increase_value": 3.62,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-01-01",
        "increase_value": 6.79,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-01-01",
        "increase_value": 7.77,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (13%)"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 6209.36
      }
    ],
    "security_deposit_amount": 70371.48
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "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 North Carolina"
  }
}