<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-ECONOMY-2023-158

This serves as a summary of the commercial lease executed on 2023-09-08 between the Lessor, Kaufman Ltd, and Lessee, Thompson, Hansen and Baird. The subject of this agreement is the Industrial property at 6355 Jenkins Gardens Suite 600, Suite 1232, West Michaelborough, Massachusetts 58779, comprising approximately 17,961 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 2023-12-01 and concluding on 2029-11-30. 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 Fixed Percentage.

Financial obligations begin with an initial base rent of $2,302.93, payable on a quarterly basis. A security deposit of $2,302.93 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.38% taking effect on 2024-11-30. Additional rents include Insurance (Pro-rata share (12%)), Real Estate Taxes (Pass-through), Operating Expenses (CAM) (Pro-rata share (2%)), Common Area Utilities (Pro-rata share (15%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: Pest control within the unit; Interior non-structural maintenance; Janitorial services within leased premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ECONOMY-2023-158",
  "document_date": "2023-09-08",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Kaufman Ltd",
      "entity_address": "7697 Simon Terrace\nVillafort, NV 28276"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Thompson, Hansen and Baird",
      "entity_address": "42819 Monica Port\nMartinmouth, WI 50044"
    }
  ],
  "property_details": {
    "property_address": "6355 Jenkins Gardens Suite 600, Suite 1232, West Michaelborough, Massachusetts 58779",
    "square_footage": 17961,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1232"
  },
  "lease_term": {
    "start_date": "2023-12-01",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2029-11-30"
  },
  "financial_terms": {
    "base_rent_initial": 2302.93,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-11-30",
        "increase_value": 0.38,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-11-30",
        "increase_value": 4.41,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-11-30",
        "increase_value": 1.05,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 6503.94
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5680.16
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 4911.41
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (15%)"
      }
    ],
    "security_deposit_amount": 2302.93
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}