<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-SCHOOL-2023-109

This serves as a summary of the commercial lease executed on 2023-01-22 between the Lessor, Dudley, Pratt and Allen, and Lessee, Riley, Jones and Schwartz. The subject of this agreement is the Warehouse property at 12599 Pena Stream Suite 567, Suite 1250, Krystalborough, Minnesota 52871, comprising approximately 18,811 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 2023-05-02 and concluding on 2028-05-01. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $82,863.37, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 8.95 $/sf taking effect on 2024-05-01. Additional rents include Management Fee (Pro-rata share (14%)), Common Area Utilities (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof. The Lessee's duties include: Pest control within the unit; All utility payments for the premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Premises to be used solely for general office purposes.

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 Binding arbitration in West Michealborough. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SCHOOL-2023-109",
  "document_date": "2023-01-22",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Dudley, Pratt and Allen",
      "entity_address": "270 Kimberly Springs Suite 408\nNew Ashlee, SC 78076",
      "contact_person": "Andrea Gonzales"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Riley, Jones and Schwartz",
      "entity_address": "72542 Collins Skyway\nCalderonchester, KS 23692"
    }
  ],
  "property_details": {
    "property_address": "12599 Pena Stream Suite 567, Suite 1250, Krystalborough, Minnesota 52871",
    "square_footage": 18811,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1250"
  },
  "lease_term": {
    "start_date": "2023-05-02",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2028-05-01"
  },
  "financial_terms": {
    "base_rent_initial": 82863.37,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-05-01",
        "increase_value": 8.95,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-05-01",
        "increase_value": 5.58,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-05-01",
        "increase_value": 3.79,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-05-01",
        "increase_value": 9.68,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 8878.6
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7814.8
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in West Michealborough"
  }
}