<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-UNDERSTAND-2023-113

This serves as a summary of the commercial lease executed on 2023-12-06 between the Lessor, Schaefer, Dean and Hudson, and Lessee, Perez-Johnson. The subject of this agreement is the Medical Office property at 38570 Carpenter Groves Apt. 883, Suite 2260, Krausebury, Illinois 37931, comprising approximately 14,034 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 2024-04-15 and concluding on 2030-04-15. 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 $7,052.46, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 6.47% taking effect on 2025-04-15. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Common Area Utilities (Pass-through), Real Estate Taxes (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical; Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-UNDERSTAND-2023-113",
  "document_date": "2023-12-06",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Schaefer, Dean and Hudson",
      "entity_address": "546 Martin Road Apt. 011\nMartintown, WA 76641",
      "contact_person": "Joshua Warner"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Perez-Johnson",
      "entity_address": "654 Tammy Parkways Suite 342\nWest Anthony, DC 64874"
    }
  ],
  "property_details": {
    "property_address": "38570 Carpenter Groves Apt. 883, Suite 2260, Krausebury, Illinois 37931",
    "square_footage": 14034,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 2260"
  },
  "lease_term": {
    "start_date": "2024-04-15",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-04-15"
  },
  "financial_terms": {
    "base_rent_initial": 7052.46,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-04-15",
        "increase_value": 6.47,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-04-15",
        "increase_value": 8.12,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6756.1
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6919.88
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}