<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-COMMERCIAL-2024-533

This serves as a summary of the commercial lease executed on 2024-03-18 between the Lessor, Clayton Group, and Lessee, Pacheco-Byrd. The subject of this agreement is the Office property at 908 Ashley Station, Suite 1966, North Leslieborough, Arizona 73265, comprising approximately 22,656 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 2024-07-04 and concluding on 2030-07-04. The tenant holds 2 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 $6,938.76, payable on a quarterly basis. A security deposit of $13,877.52 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.46 $/sf taking effect on 2025-07-04. Additional rents include Management Fee (Fixed annual contribution), Management Fee (Pro-rata share (9%)), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement; Common area maintenance (CAM). The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Premises to be used solely for general office purposes.

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 notably absent in the agreement. Any potential disputes are to be resolved via Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-COMMERCIAL-2024-533",
  "document_date": "2024-03-18",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Clayton Group",
      "entity_address": "60002 Woods Track Apt. 370\nChristinehaven, MN 26627"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Pacheco-Byrd",
      "entity_address": "26863 Jonathan Locks Suite 001\nWest Melindabury, TX 31437"
    }
  ],
  "property_details": {
    "property_address": "908 Ashley Station, Suite 1966, North Leslieborough, Arizona 73265",
    "square_footage": 22656,
    "property_type": "Office"
  },
  "lease_term": {
    "start_date": "2024-07-04",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2030-07-04"
  },
  "financial_terms": {
    "base_rent_initial": 6938.76,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-04",
        "increase_value": 7.46,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-07-04",
        "increase_value": 3.41,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-07-04",
        "increase_value": 7.14,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5916.03
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 5436.51
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7776.01
      }
    ],
    "security_deposit_amount": 13877.52
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}