<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-BAG-2022-887

This serves as a summary of the commercial lease executed on 2022-08-18 between the Lessor, Nelson PLC, and Lessee, Melton PLC. The subject of this agreement is the Industrial property at 1866 Donald Track Suite 000, Suite 462, Alexisfurt, California 43390, comprising approximately 10,268 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 2022-11-05 and concluding on 2027-11-05. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $2,457.03, payable on a quarterly basis. A security deposit of $4,914.06 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.21 $/sf taking effect on 2023-11-05. Additional rents include Operating Expenses (CAM) (Pass-through), Real Estate Taxes (Pro-rata share (2%)), Real Estate Taxes (Pass-through), Real Estate Taxes (Pro-rata share (6%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: Pest control within the unit; All utility payments for the premises; Interior non-structural maintenance; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Business operations restricted to 8:00 AM to 10:00 PM.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted only to an affiliate entity with 30 days prior notice. A force majeure clause is present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BAG-2022-887",
  "document_date": "2022-08-18",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Nelson PLC",
      "entity_address": "2831 Taylor Bridge Suite 398\nNorth Lindaview, AK 64994",
      "contact_person": "Todd Thomas"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Melton PLC",
      "entity_address": "71086 Dylan Light Apt. 405\nTarabury, NJ 22701"
    }
  ],
  "property_details": {
    "property_address": "1866 Donald Track Suite 000, Suite 462, Alexisfurt, California 43390",
    "square_footage": 10268,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2022-11-05",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2027-11-05"
  },
  "financial_terms": {
    "base_rent_initial": 2457.03,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2023-11-05",
        "increase_value": 1.21,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-11-04",
        "increase_value": 6.91,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-11-04",
        "increase_value": 1.96,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 1067.34
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8721.43
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 6732.8
      }
    ],
    "security_deposit_amount": 4914.06
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}