<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-COST-2023-649

This serves as a summary of the commercial lease executed on 2023-02-04 between the Lessor, Johnson, Johnson and Joyce, and Lessee, Morgan PLC. The subject of this agreement is the Retail property at 56584 Anne Track Apt. 996, Suite 601, South Renee, Pennsylvania 06338, comprising approximately 1,735 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 60 months, commencing on 2023-06-03 and concluding on 2028-06-02. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $4,131.32, payable on a annually basis. A security deposit of $8,262.64 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.2% taking effect on 2024-06-02. Additional rents include Real Estate Taxes (Pass-through), Insurance (Pass-through), Common Area Utilities (Pro-rata share (13%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: All utility payments for the premises; Janitorial services within leased premises; 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: 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-COST-2023-649",
  "document_date": "2023-02-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Johnson, Johnson and Joyce",
      "entity_address": "27891 Byrd Mall Suite 522\nHowardshire, HI 27804",
      "contact_person": "John Brown"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Morgan PLC"
    }
  ],
  "property_details": {
    "property_address": "56584 Anne Track Apt. 996, Suite 601, South Renee, Pennsylvania 06338",
    "square_footage": 1735,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2023-06-03",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2028-06-02"
  },
  "financial_terms": {
    "base_rent_initial": 4131.32,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-06-02",
        "increase_value": 7.2,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-06-02",
        "increase_value": 3.01,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5833.86
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 3519.3
      }
    ],
    "security_deposit_amount": 8262.64
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Janitorial services within leased premises",
      "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": 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."
  }
}