<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-IMPORTANT-2024-821

This serves as a summary of the commercial lease executed on 2024-05-25 between the Lessor, Floyd and Sons, and Lessee, Anderson-Mills. The subject of this agreement is the Warehouse property at 375 Justin Ford Suite 702, Suite 294, Willieshire, New Jersey 96711, comprising approximately 16,077 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 2024-09-08 and concluding on 2029-09-08. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $6,781.54, payable on a annually basis. A security deposit of $13,563.08 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.9% taking effect on 2025-09-08. Additional rents include Management Fee (Pass-through), Real Estate Taxes (Fixed annual contribution), Operating Expenses (CAM) (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Parking lot maintenance. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM. No structural alterations without Lessor approval.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Binding arbitration in Norristown. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-IMPORTANT-2024-821",
  "document_date": "2024-05-25",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Floyd and Sons",
      "entity_address": "23201 Rose Parks Apt. 699\nJohnsonfurt, CO 20315",
      "contact_person": "Christina Chavez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Anderson-Mills"
    }
  ],
  "property_details": {
    "property_address": "375 Justin Ford Suite 702, Suite 294, Willieshire, New Jersey 96711",
    "square_footage": 16077,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 294"
  },
  "lease_term": {
    "start_date": "2024-09-08",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2029-09-08"
  },
  "financial_terms": {
    "base_rent_initial": 6781.54,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-09-08",
        "increase_value": 4.9,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-09-08",
        "increase_value": 0.48,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-09-08",
        "increase_value": 2.3,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4598.05
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9583.6
      }
    ],
    "security_deposit_amount": 13563.08
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in Norristown"
  }
}