<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-FORM-2023-796

This serves as a summary of the commercial lease executed on 2023-06-18 between the Lessor, Schroeder-Campos, and Lessee, Randall, Ray and Schroeder. The subject of this agreement is the Retail property at 60612 Lester Wells, Suite 205, Jonesport, New Jersey 22980, comprising approximately 2,555 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 2023-08-02 and concluding on 2026-08-01. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $6,609.70, payable on a annually basis. A security deposit of $13,219.40 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 5.94% taking effect on 2024-08-01. Additional rents include Common Area Utilities (Pro-rata share (14%)), Management Fee (Pro-rata share (3%)), Real Estate Taxes (Pass-through), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. 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: Permitted only to an affiliate entity with 30 days prior notice. A force majeure clause is notably absent 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-FORM-2023-796",
  "document_date": "2023-06-18",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Schroeder-Campos",
      "entity_address": "864 Williams Pine Apt. 980\nLake Cindystad, PW 01955",
      "contact_person": "Marcia Chandler"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Randall, Ray and Schroeder",
      "entity_address": "77547 Peters Keys\nEast Meghanberg, ID 79046"
    }
  ],
  "property_details": {
    "property_address": "60612 Lester Wells, Suite 205, Jonesport, New Jersey 22980",
    "square_footage": 2555,
    "property_type": "Retail",
    "unit_identifier": "Suite 205"
  },
  "lease_term": {
    "start_date": "2023-08-02",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2026-08-01"
  },
  "financial_terms": {
    "base_rent_initial": 6609.7,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-08-01",
        "increase_value": 5.94,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-08-01",
        "increase_value": 2.42,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-08-01",
        "increase_value": 0.37,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-08-01",
        "increase_value": 2.67,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 3425.51
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 8856.51
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3706.73
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2412.61
      }
    ],
    "security_deposit_amount": 13219.4
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "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."
  }
}