<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-HUNDRED-2023-416

This serves as a summary of the commercial lease executed on 2023-06-05 between the Lessor, Sanchez Ltd, and Lessee, Guerra-Johnson. The subject of this agreement is the Office property at 49838 Smith Walks, Suite 194, Lake Gregmouth, Maryland 15803, comprising approximately 5,038 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 84 months, commencing on 2023-12-01. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $9,870.88, payable on a quarterly basis. A security deposit of $19,741.76 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.31 $/sf taking effect on 2024-11-30. Additional rents include Insurance (Pass-through), Insurance (Pass-through), Insurance (Pro-rata share (14%)), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal; Common area maintenance (CAM). The Lessee's duties include: All utility payments for the premises; Pest control within the unit; Interior non-structural maintenance; Janitorial services within leased premises. 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.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is present 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-HUNDRED-2023-416",
  "document_date": "2023-06-05",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Sanchez Ltd",
      "contact_person": "Erica Lynn"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Guerra-Johnson"
    }
  ],
  "property_details": {
    "property_address": "49838 Smith Walks, Suite 194, Lake Gregmouth, Maryland 15803",
    "square_footage": 5038,
    "property_type": "Office"
  },
  "lease_term": {
    "start_date": "2023-12-01",
    "term_duration_months": 84,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 9870.88,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-11-30",
        "increase_value": 2.31,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-11-30",
        "increase_value": 9.78,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-11-30",
        "increase_value": 2.26,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-11-30",
        "increase_value": 1.44,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6796.49
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (14%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6793.69
      }
    ],
    "security_deposit_amount": 19741.76
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}