<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-SIGN-2023-277

This serves as a summary of the commercial lease executed on 2023-11-02 between the Lessor, Fletcher PLC, and Lessee, Dunlap-Wilson. The subject of this agreement is the Retail property at 506 Perry Place Apt. 423, Suite 2253, South Melissaton, North Carolina 67956, comprising approximately 11,725 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 2023-11-21 and concluding on 2030-11-20. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $1,775.10, payable on a quarterly basis. A security deposit of $3,550.20 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.78 $/sf taking effect on 2024-11-20. Additional rents include Insurance (Pro-rata share (6%)), Insurance (Pro-rata share (15%)), Common Area Utilities (Pass-through), Common Area Utilities (Pro-rata share (5%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; HVAC system maintenance and replacement; Landscaping and snow removal. The Lessee's duties include: Pest control within the unit; All utility payments for the premises; Interior non-structural maintenance; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. 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 present 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-SIGN-2023-277",
  "document_date": "2023-11-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Fletcher PLC",
      "entity_address": "06767 Gordon Loaf Suite 855\nChristinaberg, UT 19117"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Dunlap-Wilson",
      "entity_address": "57458 Matthew Roads\nNorth Kevinchester, ND 23650"
    }
  ],
  "property_details": {
    "property_address": "506 Perry Place Apt. 423, Suite 2253, South Melissaton, North Carolina 67956",
    "square_footage": 11725,
    "property_type": "Retail",
    "unit_identifier": "Suite 2253"
  },
  "lease_term": {
    "start_date": "2023-11-21",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-11-20"
  },
  "financial_terms": {
    "base_rent_initial": 1775.1,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-11-20",
        "increase_value": 6.78,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-11-20",
        "increase_value": 7.56,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (6%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 8474.21
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8954.39
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 3733.7
      }
    ],
    "security_deposit_amount": 3550.2
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "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."
  }
}