<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-SURE-2023-621

This serves as a summary of the commercial lease executed on 2023-11-25 between the Lessor, Johnson, Burton and Anderson, and Lessee, Booker, Matthews and Chapman. The subject of this agreement is the Retail property at 088 Paul Route Apt. 600, Suite 422, Port Andrew, New York 34303, comprising approximately 3,087 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 36 months, commencing on 2024-05-09 and concluding on 2027-05-09. The tenant holds 2 option(s) to renew, with the first being for a 60-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 $9,911.80, payable on a quarterly basis. A security deposit of $19,823.60 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.83 $/sf taking effect on 2025-05-09. Additional rents include Operating Expenses (CAM) (Pro-rata share (12%)), Management Fee (Pro-rata share (5%)), Operating Expenses (CAM) (Fixed annual contribution), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical; Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent.

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 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-SURE-2023-621",
  "document_date": "2023-11-25",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Johnson, Burton and Anderson",
      "entity_address": "662 Stanton Locks\nHigginsview, AS 34647",
      "contact_person": "Jeffrey Wilson"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Booker, Matthews and Chapman",
      "entity_address": "657 Gregory Crescent\nSimmonsbury, MN 57839"
    }
  ],
  "property_details": {
    "property_address": "088 Paul Route Apt. 600, Suite 422, Port Andrew, New York 34303",
    "square_footage": 3087,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2024-05-09",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2027-05-09"
  },
  "financial_terms": {
    "base_rent_initial": 9911.8,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-05-09",
        "increase_value": 1.83,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-05-09",
        "increase_value": 4.95,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-05-09",
        "increase_value": 8.7,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-05-08",
        "increase_value": 3.35,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 3589.55
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 9338.2
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8373.98
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 19823.6
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}