<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-NONE-2024-156

This serves as a summary of the commercial lease executed on 2024-05-02 between the Lessor, Porter-Barnes, and Lessee, Reynolds-Foster. The subject of this agreement is the Warehouse property at 007 Matthew Dale, Suite 1115, Lake Donna, Delaware 33856, comprising approximately 11,794 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 120 months, commencing on 2024-07-20 and concluding on 2034-07-20. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $9,102.99, payable on a monthly basis. A security deposit of $18,205.98 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.58% taking effect on 2025-07-20. Additional rents include Common Area Utilities (Pass-through), Insurance (Fixed annual contribution), Operating Expenses (CAM) (Fixed annual contribution), Management Fee (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal; HVAC system maintenance and replacement. The Lessee's duties include: Minor repairs to plumbing and electrical; All utility payments for the premises; Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: 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 notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Kansas. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-NONE-2024-156",
  "document_date": "2024-05-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Porter-Barnes",
      "entity_address": "525 Cruz Rapids Apt. 953\nPort Donald, AK 81471",
      "contact_person": "Michael Henry"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Reynolds-Foster",
      "entity_address": "42156 Chase Row\nLake Dawn, MA 95542"
    }
  ],
  "property_details": {
    "property_address": "007 Matthew Dale, Suite 1115, Lake Donna, Delaware 33856",
    "square_footage": 11794,
    "property_type": "Warehouse"
  },
  "lease_term": {
    "start_date": "2024-07-20",
    "term_duration_months": 120,
    "renewal_options": [],
    "end_date": "2034-07-20"
  },
  "financial_terms": {
    "base_rent_initial": 9102.99,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-07-20",
        "increase_value": 3.58,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-07-20",
        "increase_value": 1.43,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-07-20",
        "increase_value": 5.48,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4445.53
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9994.54
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5992.05
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8612.4
      }
    ],
    "security_deposit_amount": 18205.98
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Kansas"
  }
}