<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-WHICH-2023-878

This serves as a summary of the commercial lease executed on 2023-05-06 between the Lessor, Stewart-Mosley, and Lessee, Dunn PLC. The subject of this agreement is the Retail property at 31157 Kathryn Corners, Suite 2492, North Suzannestad, Iowa 86065, comprising approximately 5,113 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 84 months, commencing on 2023-08-31 and concluding on 2030-08-30. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $49,572.75, payable on a annually basis. A security deposit of $49,572.75 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.84 $/sf taking effect on 2024-08-30. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Operating Expenses (CAM) (Pro-rata share (7%)), Real Estate Taxes (Pro-rata share (7%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; HVAC system maintenance and replacement; Landscaping and snow removal. The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit. 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 notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Emilyton. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-WHICH-2023-878",
  "document_date": "2023-05-06",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Stewart-Mosley",
      "contact_person": "Eric Evans"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Dunn PLC"
    }
  ],
  "property_details": {
    "property_address": "31157 Kathryn Corners, Suite 2492, North Suzannestad, Iowa 86065",
    "square_footage": 5113,
    "property_type": "Retail",
    "unit_identifier": "Suite 2492"
  },
  "lease_term": {
    "start_date": "2023-08-31",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-08-30"
  },
  "financial_terms": {
    "base_rent_initial": 49572.75,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-08-30",
        "increase_value": 7.84,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-08-30",
        "increase_value": 3.89,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2823.25
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 9162.62
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (7%)"
      }
    ],
    "security_deposit_amount": 49572.75
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "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": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in Emilyton"
  }
}