<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-MENTION-2024-679

This serves as a summary of the commercial lease executed on 2024-07-21 between the Lessor, Johnson-Lopez, and Lessee, Kelly-Forbes. The subject of this agreement is the Industrial property at 8973 Vernon Corners Suite 221, Suite 1735, South Natasha, Georgia 55065, comprising approximately 9,358 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 72 months, commencing on 2024-10-27. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $61,152.07, payable on a monthly basis. A security deposit of $122,304.14 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.1% taking effect on 2025-10-27. Additional rents include Common Area Utilities (Pass-through), Real Estate Taxes (Pass-through), Management Fee (Pro-rata share (9%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement; Structural repairs to building exterior and roof. The Lessee's duties include: Janitorial services within leased premises; All utility payments for the premises; Pest control within the unit; 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.

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. 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-MENTION-2024-679",
  "document_date": "2024-07-21",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Johnson-Lopez",
      "contact_person": "Tami Chen"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Kelly-Forbes",
      "entity_address": "1697 Bass Viaduct\nJasonberg, AK 29379"
    }
  ],
  "property_details": {
    "property_address": "8973 Vernon Corners Suite 221, Suite 1735, South Natasha, Georgia 55065",
    "square_footage": 9358,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1735"
  },
  "lease_term": {
    "start_date": "2024-10-27",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 61152.07,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-10-27",
        "increase_value": 1.1,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-10-27",
        "increase_value": 2.95,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-10-27",
        "increase_value": 0.43,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2363.05
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 1218.86
      }
    ],
    "security_deposit_amount": 122304.14
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "All utility payments for the premises",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}