<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-EVERYONE-2023-403

This serves as a summary of the commercial lease executed on 2023-05-02 between the Lessor, Davis PLC, and Lessee, Reynolds, Smith and Turner. The subject of this agreement is the Office property at 458 Bishop Crest, Suite 1662, North Michael, Maine 42227, comprising approximately 3,318 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 2023-05-14 and concluding on 2026-05-13. 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 $62,235.64, payable on a monthly basis. A security deposit of $124,471.28 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.19% taking effect on 2024-05-13. Additional rents include Real Estate Taxes (Pass-through), Management Fee (Pass-through), Management Fee (Pro-rata share (9%)), Common Area Utilities (Pro-rata share (6%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. 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: 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 Bradfordberg. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-EVERYONE-2023-403",
  "document_date": "2023-05-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Davis PLC",
      "entity_address": "3093 Manning Flat Suite 267\nEast Annette, MA 82520",
      "contact_person": "Carl Jones"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Reynolds, Smith and Turner",
      "entity_address": "7728 Harper Parkway Suite 277\nEast Paulbury, MA 89491"
    }
  ],
  "property_details": {
    "property_address": "458 Bishop Crest, Suite 1662, North Michael, Maine 42227",
    "square_footage": 3318,
    "property_type": "Office",
    "unit_identifier": "Suite 1662"
  },
  "lease_term": {
    "start_date": "2023-05-14",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2026-05-13"
  },
  "financial_terms": {
    "base_rent_initial": 62235.64,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-05-13",
        "increase_value": 2.19,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-05-13",
        "increase_value": 2.72,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3397.98
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 5654.67
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 3541.39
      }
    ],
    "security_deposit_amount": 124471.28
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "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": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in Bradfordberg"
  }
}