<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-TOO-2023-519

This serves as a summary of the commercial lease executed on 2023-12-19 between the Lessor, Cross PLC, and Lessee, Walton, Duncan and Pena. The subject of this agreement is the Retail property at 473 Kelly Haven Suite 027, Suite 1347, Benjaminmouth, Maryland 60273, comprising approximately 2,454 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 2024-03-14 and concluding on 2030-03-14. The tenant holds 1 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $7,188.98, payable on a monthly basis. A security deposit of $14,377.96 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.59 $/sf taking effect on 2025-03-14. Additional rents include Management Fee (Fixed annual contribution), Operating Expenses (CAM) (Pro-rata share (13%)), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Landscaping and snow removal; Parking lot maintenance. The Lessee's duties include: Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No structural alterations without Lessor approval.

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 present in the agreement. Any potential disputes are to be resolved via Binding arbitration in West James. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-TOO-2023-519",
  "document_date": "2023-12-19",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Cross PLC",
      "entity_address": "6354 Melissa Ranch\nPort Jenniferport, IA 40223",
      "contact_person": "Joseph Walker"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Walton, Duncan and Pena",
      "entity_address": "45532 Crystal Stravenue Suite 987\nPeterville, IA 99271"
    }
  ],
  "property_details": {
    "property_address": "473 Kelly Haven Suite 027, Suite 1347, Benjaminmouth, Maryland 60273",
    "square_footage": 2454,
    "property_type": "Retail",
    "unit_identifier": "Suite 1347"
  },
  "lease_term": {
    "start_date": "2024-03-14",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-03-14"
  },
  "financial_terms": {
    "base_rent_initial": 7188.98,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-14",
        "increase_value": 9.59,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-14",
        "increase_value": 9.9,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-03-14",
        "increase_value": 6.25,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2028-03-13",
        "increase_value": 4.95,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5267.22
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (13%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1947.02
      }
    ],
    "security_deposit_amount": 14377.96
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in West James"
  }
}