<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-THINK-2023-192

This serves as a summary of the commercial lease executed on 2023-10-19 between the Lessor, Ashley, White and Blanchard, and Lessee, King-Fisher. The subject of this agreement is the Industrial property at 658 Lauren Station, Suite 974, South Marystad, Tennessee 80780, comprising approximately 17,035 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 2023-10-20. The tenant holds 2 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 $69,158.10, payable on a monthly basis. A security deposit of $69,158.10 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.3% taking effect on 2024-10-19. Additional rents include Insurance (Pro-rata share (9%)), Operating Expenses (CAM) (Pro-rata share (9%)), Management Fee (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Pest control within the unit; All utility payments for the 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. 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 notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of West Virginia. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-THINK-2023-192",
  "document_date": "2023-10-19",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Ashley, White and Blanchard",
      "entity_address": "5688 Jensen Plaza Suite 863\nOsborneport, HI 94366",
      "contact_person": "Jason Matthews"
    },
    {
      "party_type": "Lessee",
      "entity_name": "King-Fisher",
      "entity_address": "2835 Pineda Parks\nWest Christina, SD 40081"
    }
  ],
  "property_details": {
    "property_address": "658 Lauren Station, Suite 974, South Marystad, Tennessee 80780",
    "square_footage": 17035,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2023-10-20",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 69158.1,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-10-19",
        "increase_value": 4.3,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-10-19",
        "increase_value": 4.67,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-10-19",
        "increase_value": 7.3,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 2046.88
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 1835.88
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6544.9
      }
    ],
    "security_deposit_amount": 69158.1
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "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": 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 West Virginia"
  }
}