<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-NATION-2023-534

This serves as a summary of the commercial lease executed on 2023-05-02 between the Lessor, Snow-Holden, and Lessee, Jones-Stewart. The subject of this agreement is the Office property at 0037 Kristin Fort, Suite 1092, West Jadeland, Alaska 24641, comprising approximately 18,281 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 120 months, commencing on 2023-05-20 and concluding on 2033-05-19. The tenant holds 2 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $93,486.25, payable on a quarterly basis. A security deposit of $186,972.50 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.61% taking effect on 2024-05-19. Additional rents include Real Estate Taxes (Pass-through), Common Area Utilities (Pass-through), Common Area Utilities (Pro-rata share (5%)), Insurance (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal. 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. Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-NATION-2023-534",
  "document_date": "2023-05-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Snow-Holden",
      "entity_address": "1527 Brianna Neck\nPamelaport, VT 66846",
      "contact_person": "Cheryl Wang"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Jones-Stewart",
      "entity_address": "4750 Lynch Vista Suite 516\nCarolynside, NY 64774"
    }
  ],
  "property_details": {
    "property_address": "0037 Kristin Fort, Suite 1092, West Jadeland, Alaska 24641",
    "square_footage": 18281,
    "property_type": "Office",
    "unit_identifier": "Suite 1092"
  },
  "lease_term": {
    "start_date": "2023-05-20",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2033-05-19"
  },
  "financial_terms": {
    "base_rent_initial": 93486.25,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-05-19",
        "increase_value": 6.61,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-05-19",
        "increase_value": 4.58,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-05-19",
        "increase_value": 5.97,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7885.59
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4438.18
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 6519.22
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2747.69
      }
    ],
    "security_deposit_amount": 186972.5
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "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.",
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}