<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-BOOK-2023-160

This serves as a summary of the commercial lease executed on 2023-04-09 between the Lessor, Parker, Miller and Lambert, and Lessee, Pruitt LLC. The subject of this agreement is the Retail property at 44682 Renee Meadows Suite 377, Suite 1854, New Coryview, Massachusetts 63725, comprising approximately 6,540 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 60 months, commencing on 2023-07-27 and concluding on 2028-07-26. The tenant holds 1 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $1,630.08, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 5.18 $/sf taking effect on 2024-07-26. Additional rents include Management Fee (Pro-rata share (13%)), Management Fee (Pass-through), Real Estate Taxes (Pass-through), 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: All utility payments for the premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor.

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. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Utah. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BOOK-2023-160",
  "document_date": "2023-04-09",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Parker, Miller and Lambert",
      "entity_address": "00944 Collier Villages Suite 046\nWest Alex, TN 55977",
      "contact_person": "Isaiah Buckley"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Pruitt LLC",
      "entity_address": "236 Kevin Ports Apt. 858\nPort Jamesberg, NM 87868"
    }
  ],
  "property_details": {
    "property_address": "44682 Renee Meadows Suite 377, Suite 1854, New Coryview, Massachusetts 63725",
    "square_footage": 6540,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2023-07-27",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2028-07-26"
  },
  "financial_terms": {
    "base_rent_initial": 1630.08,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-07-26",
        "increase_value": 5.18,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-26",
        "increase_value": 5.67,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 7078.01
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4239.82
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Utah"
  }
}