<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-PERSONAL-2023-660

This serves as a summary of the commercial lease executed on 2023-02-27 between the Lessor, Harrell Ltd, and Lessee, Ward-Hooper. The subject of this agreement is the Warehouse property at 811 Miller Circles Suite 731, Suite 404, Lake Danielle, Kansas 47781, comprising approximately 5,141 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 2023-05-28 and concluding on 2033-05-27. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $4,077.23, payable on a quarterly basis. A security deposit of $4,077.23 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.44 $/sf taking effect on 2024-05-27. Additional rents include Management Fee (Pro-rata share (2%)), Operating Expenses (CAM) (Pro-rata share (11%)), Insurance (Pro-rata share (7%)), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement; Structural repairs to building exterior and roof. The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises; Minor repairs to plumbing and electrical; All utility payments for the premises. 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: 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 Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-PERSONAL-2023-660",
  "document_date": "2023-02-27",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Harrell Ltd",
      "entity_address": "2399 Jane Rapid\nEast Stephanie, WV 98660",
      "contact_person": "Michelle Fisher"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ward-Hooper"
    }
  ],
  "property_details": {
    "property_address": "811 Miller Circles Suite 731, Suite 404, Lake Danielle, Kansas 47781",
    "square_footage": 5141,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 404"
  },
  "lease_term": {
    "start_date": "2023-05-28",
    "term_duration_months": 120,
    "renewal_options": [],
    "end_date": "2033-05-27"
  },
  "financial_terms": {
    "base_rent_initial": 4077.23,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-05-27",
        "increase_value": 9.44,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-05-27",
        "increase_value": 2.82,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-05-27",
        "increase_value": 3.79,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 3262.54
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 3267.09
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (7%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2350.78
      }
    ],
    "security_deposit_amount": 4077.23
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises"
    ]
  },
  "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": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}