<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-ALONG-2024-331

This serves as a summary of the commercial lease executed on 2024-01-15 between the Lessor, Mccann-Aguilar, and Lessee, Black and Sons. The subject of this agreement is the Retail property at 2212 Karen Motorway, Suite 1859, Tammyshire, Pennsylvania 51653, comprising approximately 23,092 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 2024-03-07. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $7,987.22, payable on a annually basis. A security deposit of $7,987.22 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.79% taking effect on 2025-03-07. Additional rents include Operating Expenses (CAM) (Pass-through), Common Area Utilities (Fixed annual contribution), Operating Expenses (CAM) (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: All utility payments for the premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Business operations restricted to 8:00 AM to 10:00 PM. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. 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 Tennessee. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ALONG-2024-331",
  "document_date": "2024-01-15",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Mccann-Aguilar",
      "entity_address": "839 Richard Rapids\nPort Nicole, CT 05901",
      "contact_person": "Marc Howard"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Black and Sons",
      "entity_address": "66385 Rhonda Oval\nLindaton, MO 78255"
    }
  ],
  "property_details": {
    "property_address": "2212 Karen Motorway, Suite 1859, Tammyshire, Pennsylvania 51653",
    "square_footage": 23092,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2024-03-07",
    "term_duration_months": 60,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 7987.22,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-03-07",
        "increase_value": 9.79,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-03-07",
        "increase_value": 2.5,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-03-07",
        "increase_value": 2.74,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2028-03-06",
        "increase_value": 4.2,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 8666.52
      }
    ],
    "security_deposit_amount": 7987.22
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Tennessee"
  }
}