<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-THREE-2023-399

This serves as a summary of the commercial lease executed on 2023-12-05 between the Lessor, Cook, Perkins and Cole, and Lessee, Thompson-Smith. The subject of this agreement is the Medical Office property at 78806 Baldwin Canyon, Suite 182, West Joshua, South Dakota 67378, comprising approximately 9,026 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 2024-05-17 and concluding on 2031-05-17. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $6,996.58, payable on a monthly basis. A security deposit of $6,996.58 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.06 $/sf taking effect on 2025-05-17. Additional rents include Common Area Utilities (Fixed annual contribution), Management Fee (Pro-rata share (15%)), Management Fee (Fixed annual contribution), Common Area Utilities (Pro-rata share (5%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: All utility payments for the premises; Janitorial services within leased premises; Minor repairs to plumbing and electrical; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is notably absent 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-THREE-2023-399",
  "document_date": "2023-12-05",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Cook, Perkins and Cole",
      "contact_person": "Justin Williams"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Thompson-Smith"
    }
  ],
  "property_details": {
    "property_address": "78806 Baldwin Canyon, Suite 182, West Joshua, South Dakota 67378",
    "square_footage": 9026,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 182"
  },
  "lease_term": {
    "start_date": "2024-05-17",
    "term_duration_months": 84,
    "renewal_options": [],
    "end_date": "2031-05-17"
  },
  "financial_terms": {
    "base_rent_initial": 6996.58,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-05-17",
        "increase_value": 8.06,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-05-17",
        "increase_value": 0.4,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8103.91
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 9460.99
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9734.56
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 4418.44
      }
    ],
    "security_deposit_amount": 6996.58
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}