<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-CITIZEN-2024-162

This serves as a summary of the commercial lease executed on 2024-07-13 between the Lessor, Carrillo, Allen and West, and Lessee, Howard, Parker and Stephens. The subject of this agreement is the Office property at 793 Jeffrey Canyon, Suite 1506, Port Stephanie, West Virginia 91074, comprising approximately 8,899 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 2024-09-04 and concluding on 2031-09-04. 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 $24,067.50, payable on a quarterly basis. A security deposit of $48,135.00 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.71 $/sf taking effect on 2025-09-04. Additional rents include Operating Expenses (CAM) (Pass-through), Real Estate Taxes (Pro-rata share (12%)), Operating Expenses (CAM) (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance. The Lessee's duties include: Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. 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 present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-CITIZEN-2024-162",
  "document_date": "2024-07-13",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Carrillo, Allen and West",
      "entity_address": "3055 Cunningham Causeway Suite 739\nCalhounport, GA 44888",
      "contact_person": "Matthew Russell"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Howard, Parker and Stephens",
      "entity_address": "139 Mary Ridges\nBarnesside, CO 68000"
    }
  ],
  "property_details": {
    "property_address": "793 Jeffrey Canyon, Suite 1506, Port Stephanie, West Virginia 91074",
    "square_footage": 8899,
    "property_type": "Office",
    "unit_identifier": "Suite 1506"
  },
  "lease_term": {
    "start_date": "2024-09-04",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2031-09-04"
  },
  "financial_terms": {
    "base_rent_initial": 24067.5,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-09-04",
        "increase_value": 1.71,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-09-04",
        "increase_value": 3.52,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-09-04",
        "increase_value": 5.84,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-09-03",
        "increase_value": 1.69,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 6058.24
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5152.0
      }
    ],
    "security_deposit_amount": 48135.0
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}