<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-KEY-2023-418

This serves as a summary of the commercial lease executed on 2023-11-15 between the Lessor, Ramirez, Williams and Harvey, and Lessee, Knight-Garcia. The subject of this agreement is the Medical Office property at 06744 Sherry Harbors, Suite 1897, Gregoryside, Massachusetts 86096, comprising approximately 6,866 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 60 months, commencing on 2024-02-12 and concluding on 2029-02-11. The tenant holds 1 option(s) to renew, with the first being for a 36-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 $83,444.69, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 8.11 $/sf taking effect on 2025-02-11. Additional rents include Management Fee (Fixed annual contribution), Management Fee (Fixed annual contribution), Management Fee (Pro-rata share (12%)), Common Area Utilities (Pro-rata share (2%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Minor repairs to plumbing and electrical; Janitorial services within leased 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: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Aimeestad. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-KEY-2023-418",
  "document_date": "2023-11-15",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Ramirez, Williams and Harvey",
      "entity_address": "76458 John Drives\nDominguezburgh, IA 58603"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Knight-Garcia",
      "entity_address": "1754 Johnson Way Suite 311\nNew Marcus, CA 27249"
    }
  ],
  "property_details": {
    "property_address": "06744 Sherry Harbors, Suite 1897, Gregoryside, Massachusetts 86096",
    "square_footage": 6866,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1897"
  },
  "lease_term": {
    "start_date": "2024-02-12",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2029-02-11"
  },
  "financial_terms": {
    "base_rent_initial": 83444.69,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-02-11",
        "increase_value": 8.11,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-02-11",
        "increase_value": 9.5,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-02-11",
        "increase_value": 5.82,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-02-11",
        "increase_value": 1.33,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4576.81
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3110.43
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 5968.43
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 1138.29
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased 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": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in Aimeestad"
  }
}