<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-HAIR-2023-443

This serves as a summary of the commercial lease executed on 2023-11-07 between the Lessor, King-Nelson, and Lessee, Stein-Giles. The subject of this agreement is the Office property at 422 Lewis Mills, Suite 1480, West Barbara, Kentucky 98707, comprising approximately 17,138 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 2023-11-25 and concluding on 2033-11-24. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $5,102.87, payable on a monthly basis. A security deposit of $5,102.87 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.28 $/sf taking effect on 2024-11-24. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Operating Expenses (CAM) (Fixed annual contribution), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Pest control within the unit; Janitorial services within leased premises. 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. 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 Binding arbitration in Brownport. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-HAIR-2023-443",
  "document_date": "2023-11-07",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "King-Nelson"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Stein-Giles",
      "entity_address": "40799 White Underpass Suite 492\nEast Angelaport, VT 54801"
    }
  ],
  "property_details": {
    "property_address": "422 Lewis Mills, Suite 1480, West Barbara, Kentucky 98707",
    "square_footage": 17138,
    "property_type": "Office"
  },
  "lease_term": {
    "start_date": "2023-11-25",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2033-11-24"
  },
  "financial_terms": {
    "base_rent_initial": 5102.87,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-11-24",
        "increase_value": 8.28,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-11-24",
        "increase_value": 4.18,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-11-24",
        "increase_value": 8.41,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2449.99
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4830.4
      }
    ],
    "security_deposit_amount": 5102.87
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "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": "Binding arbitration in Brownport"
  }
}