<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-STILL-2023-917

This serves as a summary of the commercial lease executed on 2023-06-30 between the Lessor, Salinas-Parker, and Lessee, Beasley and Sons. The subject of this agreement is the Industrial property at 77973 Lori Forest Suite 456, Suite 1565, Lake Duaneport, Arkansas 61381, comprising approximately 1,641 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 84 months, commencing on 2023-11-10 and concluding on 2030-11-09. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $6,733.83, payable on a monthly basis. A security deposit of $6,733.83 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.5% taking effect on 2024-11-09. Additional rents include Real Estate Taxes (Fixed annual contribution), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical; Janitorial services within leased premises. 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: 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-STILL-2023-917",
  "document_date": "2023-06-30",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Salinas-Parker",
      "entity_address": "635 Todd Plaza\nLake Alison, MN 36116",
      "contact_person": "Kelly Johnson"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Beasley and Sons"
    }
  ],
  "property_details": {
    "property_address": "77973 Lori Forest Suite 456, Suite 1565, Lake Duaneport, Arkansas 61381",
    "square_footage": 1641,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1565"
  },
  "lease_term": {
    "start_date": "2023-11-10",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-11-09"
  },
  "financial_terms": {
    "base_rent_initial": 6733.83,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-11-09",
        "increase_value": 8.5,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-11-09",
        "increase_value": 2.4,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-11-09",
        "increase_value": 1.32,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-11-09",
        "increase_value": 1.1,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9620.06
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7283.17
      }
    ],
    "security_deposit_amount": 6733.83
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises"
    ]
  },
  "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": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}