<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-INTERNATIONAL-2023-751

This serves as a summary of the commercial lease executed on 2023-10-10 between the Lessor, Rose, Williams and Woods, and Lessee, Stevens, Hill and Miller. The subject of this agreement is the Warehouse property at 699 Nathaniel Lodge Apt. 428, Suite 1070, Port Heatherborough, Nevada 03913, comprising approximately 1,677 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 2024-02-21 and concluding on 2029-02-20. 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 Market Rate.

Financial obligations begin with an initial base rent of $1,013.40, payable on a quarterly basis. A security deposit of $2,026.80 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.5% taking effect on 2025-02-20. Additional rents include Management Fee (Pass-through), Insurance (Pro-rata share (4%)), Operating Expenses (CAM) (Pass-through), Insurance (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit; All utility payments for the premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Signage must be approved by Lessor.

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 Binding arbitration in West Jonathan. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-INTERNATIONAL-2023-751",
  "document_date": "2023-10-10",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Rose, Williams and Woods",
      "entity_address": "90416 Jennifer Ford\nMossshire, RI 22719",
      "contact_person": "Linda Scott"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Stevens, Hill and Miller",
      "entity_address": "245 Huff Walk\nPort Sharonshire, WA 89234"
    }
  ],
  "property_details": {
    "property_address": "699 Nathaniel Lodge Apt. 428, Suite 1070, Port Heatherborough, Nevada 03913",
    "square_footage": 1677,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1070"
  },
  "lease_term": {
    "start_date": "2024-02-21",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2029-02-20"
  },
  "financial_terms": {
    "base_rent_initial": 1013.4,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-02-20",
        "increase_value": 6.5,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-02-20",
        "increase_value": 4.36,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7864.58
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (4%)",
        "estimated_annual_cost": 2130.71
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7841.19
      }
    ],
    "security_deposit_amount": 2026.8
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "All utility payments for the premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Binding arbitration in West Jonathan"
  }
}