<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-NEXT-2022-856

This serves as a summary of the commercial lease executed on 2022-12-20 between the Lessor, Neal, Thomas and Wallace, and Lessee, Tran, Nelson and Garcia. The subject of this agreement is the Medical Office property at 833 Laura Streets, Suite 2019, South Tiffany, Utah 06345, comprising approximately 17,605 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 2023-02-06 and concluding on 2026-02-05. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $1,688.73, payable on a annually basis. A security deposit of $3,377.46 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.41 $/sf taking effect on 2024-02-06. Additional rents include Common Area Utilities (Fixed annual contribution), Management Fee (Pro-rata share (4%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. 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-NEXT-2022-856",
  "document_date": "2022-12-20",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Neal, Thomas and Wallace",
      "entity_address": "334 Morrison Island\nHarrisonborough, GA 21492"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Tran, Nelson and Garcia",
      "entity_address": "2054 Suzanne Dam\nNew Cassandraton, OR 22632"
    }
  ],
  "property_details": {
    "property_address": "833 Laura Streets, Suite 2019, South Tiffany, Utah 06345",
    "square_footage": 17605,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 2019"
  },
  "lease_term": {
    "start_date": "2023-02-06",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2026-02-05"
  },
  "financial_terms": {
    "base_rent_initial": 1688.73,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-02-06",
        "increase_value": 8.41,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-02-05",
        "increase_value": 5.88,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-02-05",
        "increase_value": 9.26,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-02-05",
        "increase_value": 6.03,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3984.13
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (4%)"
      }
    ],
    "security_deposit_amount": 3377.46
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}