<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-ITSELF-2024-683

This serves as a summary of the commercial lease executed on 2024-03-17 between the Lessor, Walsh-Anderson, and Lessee, Fox and Sons. The subject of this agreement is the Office property at 23292 Stephanie Creek Apt. 507, Suite 827, Cruzstad, Utah 06421, comprising approximately 10,815 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 36 months, commencing on 2024-07-03. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $2,422.41, payable on a annually basis. A security deposit of $2,422.41 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.36% taking effect on 2025-07-03. Additional rents include Real Estate Taxes (Pass-through), Common Area Utilities (Pro-rata share (7%)), Insurance (Pro-rata share (15%)), Real Estate Taxes (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: Pest control within the unit; Interior non-structural maintenance; Janitorial services within leased premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Business operations restricted to 8:00 AM to 10:00 PM.

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 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-ITSELF-2024-683",
  "document_date": "2024-03-17",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Walsh-Anderson",
      "entity_address": "519 Steven Bypass\nPort Cassie, GU 63442",
      "contact_person": "Donna Larsen"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Fox and Sons",
      "entity_address": "250 Charles Prairie\nNorth Ryanchester, NJ 80233"
    }
  ],
  "property_details": {
    "property_address": "23292 Stephanie Creek Apt. 507, Suite 827, Cruzstad, Utah 06421",
    "square_footage": 10815,
    "property_type": "Office"
  },
  "lease_term": {
    "start_date": "2024-07-03",
    "term_duration_months": 36,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 2422.41,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-03",
        "increase_value": 8.36,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-07-03",
        "increase_value": 9.83,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-07-03",
        "increase_value": 1.95,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-07-02",
        "increase_value": 9.98,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3405.58
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 5352.99
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 8339.52
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7531.51
      }
    ],
    "security_deposit_amount": 2422.41
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}