<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-PICK-2023-170

This serves as a summary of the commercial lease executed on 2023-08-14 between the Lessor, Anderson LLC, and Lessee, Cook Group. The subject of this agreement is the Warehouse property at 050 Espinoza Key, Suite 645, New Connorburgh, Maryland 66127, comprising approximately 22,307 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 2023-08-22 and concluding on 2030-08-21. The tenant holds 2 option(s) to renew, with the first being for a 60-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 $91,142.37, payable on a monthly basis. A security deposit of $91,142.37 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.69 $/sf taking effect on 2024-08-21. Additional rents include Insurance (Fixed annual contribution), Management Fee (Pro-rata share (12%)), Management Fee (Pro-rata share (5%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: All utility payments for the premises; 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. No hazardous materials permitted on the premises without prior written consent. No structural alterations without Lessor approval.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-PICK-2023-170",
  "document_date": "2023-08-14",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Anderson LLC",
      "entity_address": "71942 Justin Freeway Apt. 475\nNew Christinaside, IN 77831"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Cook Group",
      "entity_address": "001 Schmidt Unions\nJillianberg, MS 34677"
    }
  ],
  "property_details": {
    "property_address": "050 Espinoza Key, Suite 645, New Connorburgh, Maryland 66127",
    "square_footage": 22307,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 645"
  },
  "lease_term": {
    "start_date": "2023-08-22",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-08-21"
  },
  "financial_terms": {
    "base_rent_initial": 91142.37,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-08-21",
        "increase_value": 9.69,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-08-21",
        "increase_value": 3.44,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-08-21",
        "increase_value": 2.8,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7855.13
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 6580.03
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 8856.26
      }
    ],
    "security_deposit_amount": 91142.37
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}