<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-DEVELOP-2024-929

This serves as a summary of the commercial lease executed on 2024-06-26 between the Lessor, Sharp, Morgan and Strickland, and Lessee, Torres-Lee. The subject of this agreement is the Medical Office property at 78308 Jessica Inlet Apt. 495, Suite 554, Tylerberg, Ohio 70531, comprising approximately 2,682 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 2024-07-08 and concluding on 2029-07-08. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $4,165.24, payable on a monthly basis. A security deposit of $4,165.24 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.84% taking effect on 2025-07-08. Additional rents include Common Area Utilities (Pro-rata share (8%)), Management Fee (Pro-rata share (10%)), Management Fee (Pass-through), Real Estate Taxes (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent. Business operations restricted to 8:00 AM to 10:00 PM.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-DEVELOP-2024-929",
  "document_date": "2024-06-26",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Sharp, Morgan and Strickland",
      "entity_address": "6673 Sandra Wells Apt. 533\nAlbertville, VT 79913",
      "contact_person": "Bianca Butler"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Torres-Lee"
    }
  ],
  "property_details": {
    "property_address": "78308 Jessica Inlet Apt. 495, Suite 554, Tylerberg, Ohio 70531",
    "square_footage": 2682,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2024-07-08",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2029-07-08"
  },
  "financial_terms": {
    "base_rent_initial": 4165.24,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-08",
        "increase_value": 6.84,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-07-08",
        "increase_value": 2.91,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-07-08",
        "increase_value": 4.08,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-07-07",
        "increase_value": 3.78,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 9604.49
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (10%)"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9611.7
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6849.9
      }
    ],
    "security_deposit_amount": 4165.24
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}