<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-DURING-2023-350

This serves as a summary of the commercial lease executed on 2023-03-05 between the Lessor, Dalton, Warren and Harrison, and Lessee, Brown PLC. The subject of this agreement is the Medical Office property at 62398 Terri Courts, Suite 355, Michaelburgh, Alabama 05085, comprising approximately 15,640 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 2023-04-24 and concluding on 2033-04-23. The tenant holds 1 option(s) to renew, with the first being for a 24-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 $93,799.47, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 6.31 $/sf taking effect on 2024-04-23. Additional rents include Management Fee (Pass-through), Management Fee (Pro-rata share (13%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal. The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit; 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. No structural alterations without Lessor approval.

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 Mediation followed by litigation in the State of New Mexico. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-DURING-2023-350",
  "document_date": "2023-03-05",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Dalton, Warren and Harrison",
      "contact_person": "Christian Perez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Brown PLC",
      "entity_address": "507 Robert Roads Suite 203\nEast Timothy, AL 72781"
    }
  ],
  "property_details": {
    "property_address": "62398 Terri Courts, Suite 355, Michaelburgh, Alabama 05085",
    "square_footage": 15640,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 355"
  },
  "lease_term": {
    "start_date": "2023-04-24",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2033-04-23"
  },
  "financial_terms": {
    "base_rent_initial": 93799.47,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-04-23",
        "increase_value": 6.31,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-04-23",
        "increase_value": 3.69,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-04-23",
        "increase_value": 8.57,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-04-23",
        "increase_value": 4.3,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6242.15
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 1092.52
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "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 New Mexico"
  }
}