<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-SCENE-2024-753

This serves as a summary of the commercial lease executed on 2024-03-27 between the Lessor, Vega, Castro and Montoya, and Lessee, Williams Inc. The subject of this agreement is the Retail property at 1188 Simpson Loop, Suite 2176, New Denisebury, Minnesota 99866, comprising approximately 18,517 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 2024-06-04 and concluding on 2031-06-04. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $30,517.50, payable on a annually basis. A security deposit of $30,517.50 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.15 $/sf taking effect on 2025-06-04. Additional rents include Operating Expenses (CAM) (Pass-through), Operating Expenses (CAM) (Pass-through), Management Fee (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

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 Mediation followed by litigation in the State of Arizona. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SCENE-2024-753",
  "document_date": "2024-03-27",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Vega, Castro and Montoya",
      "entity_address": "0134 Brian Mount\nDanielleton, ID 73656",
      "contact_person": "Gregory Butler"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Williams Inc"
    }
  ],
  "property_details": {
    "property_address": "1188 Simpson Loop, Suite 2176, New Denisebury, Minnesota 99866",
    "square_footage": 18517,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2024-06-04",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2031-06-04"
  },
  "financial_terms": {
    "base_rent_initial": 30517.5,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-06-04",
        "increase_value": 2.15,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-06-04",
        "increase_value": 6.44,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-06-04",
        "increase_value": 8.22,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2028-06-03",
        "increase_value": 1.76,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1204.81
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9880.58
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 4812.11
      }
    ],
    "security_deposit_amount": 30517.5
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "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": "Mediation followed by litigation in the State of Arizona"
  }
}