<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-STAR-2024-889

This serves as a summary of the commercial lease executed on 2024-07-22 between the Lessor, Williams, Sanders and Martin, and Lessee, Brown, Francis and Brooks. The subject of this agreement is the Industrial property at 405 Gonzales Estates Suite 244, Suite 824, Johnsbury, Tennessee 91681, comprising approximately 20,853 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 2025-01-09. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $36,792.46, payable on a monthly basis. A security deposit of $73,584.92 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.98% taking effect on 2026-01-09. Additional rents include Operating Expenses (CAM) (Pro-rata share (5%)), Real Estate Taxes (Fixed annual contribution), Insurance (Pass-through), Operating Expenses (CAM) (Pro-rata share (4%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance. The Lessee's duties include: All utility payments for the premises; Interior non-structural maintenance; Minor repairs to plumbing and electrical; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. Premises to be used solely for general office purposes. Signage must be approved by Lessor.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-STAR-2024-889",
  "document_date": "2024-07-22",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Williams, Sanders and Martin",
      "entity_address": "9745 Vickie Squares\nLamberthaven, NY 61420"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Brown, Francis and Brooks",
      "entity_address": "56492 Gonzalez Underpass\nSouth Robert, IA 66725"
    }
  ],
  "property_details": {
    "property_address": "405 Gonzales Estates Suite 244, Suite 824, Johnsbury, Tennessee 91681",
    "square_footage": 20853,
    "property_type": "Industrial",
    "unit_identifier": "Suite 824"
  },
  "lease_term": {
    "start_date": "2025-01-09",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 36792.46,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-01-09",
        "increase_value": 0.98,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-01-09",
        "increase_value": 6.37,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2028-01-09",
        "increase_value": 5.72,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 6531.64
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6626.97
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (4%)",
        "estimated_annual_cost": 8873.54
      }
    ],
    "security_deposit_amount": 73584.92
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Premises to be used solely for general office purposes.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}