<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-SINGLE-2023-797

This serves as a summary of the commercial lease executed on 2023-10-24 between the Lessor, Johnson, Dunlap and Harper, and Lessee, Boyd-Proctor. The subject of this agreement is the Medical Office property at 6387 Sarah Route Apt. 214, Suite 1740, West Nicholas, Wisconsin 29876, comprising approximately 24,535 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 36 months, commencing on 2024-01-06. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $7,388.00, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 6.11 $/sf taking effect on 2025-01-05. Additional rents include Insurance (Pass-through), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical; All utility payments for the premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No hazardous materials permitted on the premises without prior written consent.

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 Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SINGLE-2023-797",
  "document_date": "2023-10-24",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Johnson, Dunlap and Harper",
      "contact_person": "Harold Shepard"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Boyd-Proctor",
      "entity_address": "02121 Koch Plaza\nDiazview, TN 25630"
    }
  ],
  "property_details": {
    "property_address": "6387 Sarah Route Apt. 214, Suite 1740, West Nicholas, Wisconsin 29876",
    "square_footage": 24535,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1740"
  },
  "lease_term": {
    "start_date": "2024-01-06",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 7388.0,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-01-05",
        "increase_value": 6.11,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-01-05",
        "increase_value": 7.14,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-01-05",
        "increase_value": 8.47,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6815.16
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "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": "Litigation in the jurisdiction of the property location."
  }
}