<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-BECOME-2024-529

This serves as a summary of the commercial lease executed on 2024-08-09 between the Lessor, Taylor LLC, and Lessee, Tyler Ltd. The subject of this agreement is the Industrial property at 353 Henderson Spring, Suite 209, Hernandezside, Minnesota 29658, comprising approximately 11,781 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 2024-10-22. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $71,323.99, payable on a quarterly basis. A security deposit of $142,647.98 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.9% taking effect on 2025-10-22. Additional rents include Insurance (Pro-rata share (5%)), Real Estate Taxes (Pro-rata share (15%)), Operating Expenses (CAM) (Pass-through), Management Fee (Pass-through).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: Minor repairs to plumbing and electrical; All utility payments for the premises; Interior non-structural maintenance. 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.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Binding arbitration in South Curtis. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BECOME-2024-529",
  "document_date": "2024-08-09",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Taylor LLC",
      "entity_address": "3465 Brian Path Apt. 416\nChristinafort, AR 92851"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Tyler Ltd",
      "entity_address": "00315 Frederick Fort Suite 391\nSouth Jamesport, NE 25110"
    }
  ],
  "property_details": {
    "property_address": "353 Henderson Spring, Suite 209, Hernandezside, Minnesota 29658",
    "square_footage": 11781,
    "property_type": "Industrial",
    "unit_identifier": "Suite 209"
  },
  "lease_term": {
    "start_date": "2024-10-22",
    "term_duration_months": 36,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 71323.99,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-10-22",
        "increase_value": 2.9,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-10-22",
        "increase_value": 1.68,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-10-22",
        "increase_value": 7.29,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-10-21",
        "increase_value": 1.32,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 5204.6
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 7058.83
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 142647.98
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in South Curtis"
  }
}