<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-SET-2024-504

This serves as a summary of the commercial lease executed on 2024-07-14 between the Lessor, Wilson-Woods, and Lessee, Daniels-Bowman. The subject of this agreement is the Office property at 6642 Thomas Pass, Suite 886, New Debbie, Utah 30527, comprising approximately 15,573 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 2024-12-13 and concluding on 2029-12-13. The tenant holds 1 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $1,818.43, payable on a annually basis. A security deposit of $1,818.43 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.84% taking effect on 2025-12-13. Additional rents include Insurance (Fixed annual contribution), Real Estate Taxes (Pro-rata share (7%)), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; HVAC system maintenance and replacement; Parking lot maintenance. The Lessee's duties include: Pest control within the unit; Minor repairs to plumbing and electrical; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM.

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 present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SET-2024-504",
  "document_date": "2024-07-14",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Wilson-Woods",
      "entity_address": "0409 Montoya Via Suite 578\nTaylorchester, MA 62151",
      "contact_person": "Abigail Silva"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Daniels-Bowman"
    }
  ],
  "property_details": {
    "property_address": "6642 Thomas Pass, Suite 886, New Debbie, Utah 30527",
    "square_footage": 15573,
    "property_type": "Office",
    "unit_identifier": "Suite 886"
  },
  "lease_term": {
    "start_date": "2024-12-13",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2029-12-13"
  },
  "financial_terms": {
    "base_rent_initial": 1818.43,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-12-13",
        "increase_value": 4.84,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-12-13",
        "increase_value": 5.46,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-12-13",
        "increase_value": 7.09,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-12-12",
        "increase_value": 4.15,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1354.29
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 3625.3
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6833.53
      }
    ],
    "security_deposit_amount": 1818.43
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}