<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-STATE-2023-249

This serves as a summary of the commercial lease executed on 2023-09-29 between the Lessor, Allen and Sons, and Lessee, Cardenas Group. The subject of this agreement is the Warehouse property at 68874 Veronica Station Apt. 426, Suite 1848, Devonview, Hawaii 81251, comprising approximately 9,429 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 2024-01-19 and concluding on 2031-01-18. The tenant holds 2 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $54,423.77, payable on a quarterly basis. A security deposit of $54,423.77 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.04 $/sf taking effect on 2025-01-18. Additional rents include Operating Expenses (CAM) (Pro-rata share (6%)), Management Fee (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Parking lot maintenance. The Lessee's duties include: Pest control within the unit; 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: No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of New York. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-STATE-2023-249",
  "document_date": "2023-09-29",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Allen and Sons",
      "contact_person": "Matthew Anderson"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Cardenas Group",
      "entity_address": "85193 James Estates Suite 572\nLarsonville, CO 54837"
    }
  ],
  "property_details": {
    "property_address": "68874 Veronica Station Apt. 426, Suite 1848, Devonview, Hawaii 81251",
    "square_footage": 9429,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1848"
  },
  "lease_term": {
    "start_date": "2024-01-19",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2031-01-18"
  },
  "financial_terms": {
    "base_rent_initial": 54423.77,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-01-18",
        "increase_value": 8.04,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-01-18",
        "increase_value": 2.99,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 2208.05
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6491.01
      }
    ],
    "security_deposit_amount": 54423.77
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of New York"
  }
}