<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-SOCIAL-2023-558

This serves as a summary of the commercial lease executed on 2023-04-02 between the Lessor, Richmond and Sons, and Lessee, Hood and Sons. The subject of this agreement is the Retail property at 659 Carol Landing, Suite 599, Carneyhaven, Arkansas 01726, comprising approximately 17,747 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 72 months, commencing on 2023-05-01 and concluding on 2029-04-30. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $8,617.31, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 6.75% taking effect on 2024-04-30. Additional rents include Real Estate Taxes (Pro-rata share (3%)), Common Area Utilities (Fixed annual contribution), Real Estate Taxes (Fixed annual contribution), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: All utility payments for the premises; Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. Signage must be approved by Lessor.

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 present in the agreement. Any potential disputes are to be resolved via Binding arbitration in East Ross. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SOCIAL-2023-558",
  "document_date": "2023-04-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Richmond and Sons",
      "entity_address": "01700 Jones Turnpike Suite 805\nVaughanmouth, NV 98792"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hood and Sons",
      "entity_address": "432 Tamara Brook Apt. 779\nMunoztown, MT 42927"
    }
  ],
  "property_details": {
    "property_address": "659 Carol Landing, Suite 599, Carneyhaven, Arkansas 01726",
    "square_footage": 17747,
    "property_type": "Retail",
    "unit_identifier": "Suite 599"
  },
  "lease_term": {
    "start_date": "2023-05-01",
    "term_duration_months": 72,
    "renewal_options": [],
    "end_date": "2029-04-30"
  },
  "financial_terms": {
    "base_rent_initial": 8617.31,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-04-30",
        "increase_value": 6.75,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-04-30",
        "increase_value": 1.67,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-04-30",
        "increase_value": 3.34,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 4052.75
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5901.42
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in East Ross"
  }
}