<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-BEAUTIFUL-2023-346

This serves as a summary of the commercial lease executed on 2023-10-19 between the Lessor, York Ltd, and Lessee, Walls, Wilkerson and Rivera. The subject of this agreement is the Warehouse property at 031 Jessica Cove, Suite 2154, Annchester, Kentucky 75737, comprising approximately 23,713 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 2023-10-23 and concluding on 2026-10-22. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $88,099.56, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 8.7% taking effect on 2024-10-22. Additional rents include Insurance (Pass-through), Common Area Utilities (Fixed annual contribution), Insurance (Pass-through), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: All utility payments for the premises; Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted only to an affiliate entity with 30 days prior notice. 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-BEAUTIFUL-2023-346",
  "document_date": "2023-10-19",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "York Ltd",
      "entity_address": "226 Johnson Gardens\nLake Rebeccatown, AR 06185",
      "contact_person": "Lawrence Merritt"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Walls, Wilkerson and Rivera"
    }
  ],
  "property_details": {
    "property_address": "031 Jessica Cove, Suite 2154, Annchester, Kentucky 75737",
    "square_footage": 23713,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 2154"
  },
  "lease_term": {
    "start_date": "2023-10-23",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2026-10-22"
  },
  "financial_terms": {
    "base_rent_initial": 88099.56,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-10-22",
        "increase_value": 8.7,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-10-22",
        "increase_value": 8.67,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2125.54
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6741.92
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6588.6
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}