<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-SHOW-2023-951

This serves as a summary of the commercial lease executed on 2023-10-20 between the Lessor, Rowe Ltd, and Lessee, King, Williams and Davis. The subject of this agreement is the Industrial property at 2081 Griffin Cliffs Apt. 171, Suite 845, South Jason, South Dakota 79259, comprising approximately 18,753 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 72 months, commencing on 2024-04-09. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $9,198.61, payable on a annually basis. A security deposit of $18,397.22 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.79 $/sf taking effect on 2025-04-09. Additional rents include Real Estate Taxes (Fixed annual contribution), Management Fee (Fixed annual contribution), Management Fee (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical; Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. 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. 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-SHOW-2023-951",
  "document_date": "2023-10-20",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Rowe Ltd",
      "entity_address": "38945 Mcintyre Loop Apt. 864\nLewismouth, MO 35574",
      "contact_person": "Stephen Willis"
    },
    {
      "party_type": "Lessee",
      "entity_name": "King, Williams and Davis",
      "entity_address": "6139 Moyer Port Apt. 769\nJohnsontown, WV 95296"
    }
  ],
  "property_details": {
    "property_address": "2081 Griffin Cliffs Apt. 171, Suite 845, South Jason, South Dakota 79259",
    "square_footage": 18753,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2024-04-09",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 9198.61,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-04-09",
        "increase_value": 4.79,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-04-09",
        "increase_value": 2.95,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-04-09",
        "increase_value": 5.85,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5673.31
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5474.38
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 18397.22
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "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.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}