<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-LEVEL-2022-609

This serves as a summary of the commercial lease executed on 2022-11-23 between the Lessor, Horton PLC, and Lessee, May, Smith and Brown. The subject of this agreement is the Medical Office property at 2917 Kristie Viaduct, Suite 1803, Port Emmabury, Florida 29248, comprising approximately 6,433 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 72 months, commencing on 2023-04-28. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $78,152.48, payable on a quarterly basis. A security deposit of $78,152.48 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.03 $/sf taking effect on 2024-04-27. Additional rents include Operating Expenses (CAM) (Pass-through), Real Estate Taxes (Pro-rata share (4%)), Real Estate Taxes (Pro-rata share (2%)), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical; Interior non-structural maintenance; 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. No structural alterations without Lessor approval.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Binding arbitration in East Jeffreyshire. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-LEVEL-2022-609",
  "document_date": "2022-11-23",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Horton PLC",
      "entity_address": "9056 Wright Road Apt. 158\nMaymouth, KS 47018",
      "contact_person": "Gwendolyn Hale"
    },
    {
      "party_type": "Lessee",
      "entity_name": "May, Smith and Brown",
      "entity_address": "2560 James Forest Suite 011\nMartinland, GU 67349"
    }
  ],
  "property_details": {
    "property_address": "2917 Kristie Viaduct, Suite 1803, Port Emmabury, Florida 29248",
    "square_footage": 6433,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1803"
  },
  "lease_term": {
    "start_date": "2023-04-28",
    "term_duration_months": 72,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 78152.48,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-04-27",
        "increase_value": 4.03,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-04-27",
        "increase_value": 4.11,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-04-27",
        "increase_value": 6.19,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1425.87
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (4%)",
        "estimated_annual_cost": 5201.05
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 3340.26
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4636.81
      }
    ],
    "security_deposit_amount": 78152.48
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in East Jeffreyshire"
  }
}