<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-PLAY-2024-754

This serves as a summary of the commercial lease executed on 2024-06-16 between the Lessor, Woods Ltd, and Lessee, Flores, James and Cherry. The subject of this agreement is the Medical Office property at 3779 Mcclain Views Apt. 616, Suite 1208, South Carl, Alaska 53334, comprising approximately 13,459 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 2024-11-20 and concluding on 2034-11-20. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $5,774.71, payable on a annually basis. A security deposit of $11,549.42 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 5.06 $/sf taking effect on 2025-11-20. Additional rents include Real Estate Taxes (Pro-rata share (14%)), Real Estate Taxes (Pro-rata share (6%)), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement. The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises. 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.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. 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-PLAY-2024-754",
  "document_date": "2024-06-16",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Woods Ltd",
      "entity_address": "9792 Harvey Ports\nWest Nathan, MS 68893",
      "contact_person": "Joseph Phillips"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Flores, James and Cherry",
      "entity_address": "85691 John Stravenue\nWest Jillberg, NE 16875"
    }
  ],
  "property_details": {
    "property_address": "3779 Mcclain Views Apt. 616, Suite 1208, South Carl, Alaska 53334",
    "square_footage": 13459,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1208"
  },
  "lease_term": {
    "start_date": "2024-11-20",
    "term_duration_months": 120,
    "renewal_options": [],
    "end_date": "2034-11-20"
  },
  "financial_terms": {
    "base_rent_initial": 5774.71,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-11-20",
        "increase_value": 5.06,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-11-20",
        "increase_value": 9.9,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-11-20",
        "increase_value": 6.3,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-11-19",
        "increase_value": 2.58,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 3584.11
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 5466.91
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4195.09
      }
    ],
    "security_deposit_amount": 11549.42
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}