<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-ON-2023-144

This serves as a summary of the commercial lease executed on 2023-01-09 between the Lessor, Pierce Ltd, and Lessee, Carpenter, Cox and Bailey. The subject of this agreement is the Warehouse property at 43515 Richard Pass, Suite 2497, Nicholasshire, Vermont 15181, comprising approximately 2,141 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 2023-02-19 and concluding on 2026-02-18. The tenant holds 2 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $64,808.74, payable on a annually basis. A security deposit of $64,808.74 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.73% taking effect on 2024-02-19. Additional rents include Common Area Utilities (Pass-through), Management Fee (Pro-rata share (4%)), Operating Expenses (CAM) (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. 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 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-ON-2023-144",
  "document_date": "2023-01-09",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Pierce Ltd",
      "entity_address": "8422 Newman Fork Suite 833\nGarciaview, HI 14227"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Carpenter, Cox and Bailey",
      "entity_address": "807 Nguyen Plain\nPort Eric, NE 11470"
    }
  ],
  "property_details": {
    "property_address": "43515 Richard Pass, Suite 2497, Nicholasshire, Vermont 15181",
    "square_footage": 2141,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 2497"
  },
  "lease_term": {
    "start_date": "2023-02-19",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2026-02-18"
  },
  "financial_terms": {
    "base_rent_initial": 64808.74,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-02-19",
        "increase_value": 3.73,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-02-18",
        "increase_value": 0.41,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6926.28
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (4%)",
        "estimated_annual_cost": 8792.93
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 7983.89
      }
    ],
    "security_deposit_amount": 64808.74
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval."
  ],
  "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."
  }
}