<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-POLITICS-2024-379

This serves as a summary of the commercial lease executed on 2024-07-18 between the Lessor, Hamilton-Higgins, and Lessee, Dixon, Huber and Hubbard. The subject of this agreement is the Medical Office property at 61729 Morgan Extensions Suite 428, Suite 2360, West Cathyberg, Vermont 75694, comprising approximately 17,164 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 2024-10-14. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $30,889.50, payable on a quarterly basis. A security deposit of $30,889.50 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.6% taking effect on 2025-10-14. Additional rents include Real Estate Taxes (Pro-rata share (6%)), Real Estate Taxes (Fixed annual contribution), Management Fee (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical; Janitorial services within leased premises; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. 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: Permitted only to an affiliate entity with 30 days prior notice. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Erinside. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-POLITICS-2024-379",
  "document_date": "2024-07-18",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hamilton-Higgins"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Dixon, Huber and Hubbard",
      "entity_address": "354 Williams Motorway Apt. 997\nLauraland, MO 03324"
    }
  ],
  "property_details": {
    "property_address": "61729 Morgan Extensions Suite 428, Suite 2360, West Cathyberg, Vermont 75694",
    "square_footage": 17164,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 2360"
  },
  "lease_term": {
    "start_date": "2024-10-14",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 30889.5,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-10-14",
        "increase_value": 0.6,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-10-14",
        "increase_value": 0.23,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 6077.56
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6960.37
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 30889.5
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "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": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Binding arbitration in Erinside"
  }
}