<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-THE-2023-566

This serves as a summary of the commercial lease executed on 2023-10-12 between the Lessor, Davis, Riggs and Hanna, and Lessee, Smith-Diaz. The subject of this agreement is the Warehouse property at 9959 Garcia Garden, Suite 1746, Port Brian, Virginia 74486, comprising approximately 12,403 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 2024-03-16 and concluding on 2027-03-16. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $7,392.24, payable on a quarterly basis. A security deposit of $14,784.48 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.49 $/sf taking effect on 2025-03-16. Additional rents include Insurance (Fixed annual contribution), Common Area Utilities (Pro-rata share (4%)).

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

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-THE-2023-566",
  "document_date": "2023-10-12",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Davis, Riggs and Hanna",
      "entity_address": "484 Newton Oval Apt. 787\nWayneview, NM 76676",
      "contact_person": "Jesus Sims"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Smith-Diaz",
      "entity_address": "68606 Cassandra Forges\nRodriguezshire, NJ 15160"
    }
  ],
  "property_details": {
    "property_address": "9959 Garcia Garden, Suite 1746, Port Brian, Virginia 74486",
    "square_footage": 12403,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1746"
  },
  "lease_term": {
    "start_date": "2024-03-16",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2027-03-16"
  },
  "financial_terms": {
    "base_rent_initial": 7392.24,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-03-16",
        "increase_value": 1.49,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-16",
        "increase_value": 5.0,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1771.83
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (4%)",
        "estimated_annual_cost": 5111.06
      }
    ],
    "security_deposit_amount": 14784.48
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}