<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-ITS-2022-372

This serves as a summary of the commercial lease executed on 2022-11-20 between the Lessor, Johnson Group, and Lessee, Hughes and Sons. The subject of this agreement is the Retail property at 606 Tracey Branch Suite 452, Suite 1622, South Alexanderton, Kentucky 08626, comprising approximately 4,873 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 2023-01-15 and concluding on 2029-01-14. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $8,870.89, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 1.71% taking effect on 2024-01-15. Additional rents include Common Area Utilities (Pro-rata share (14%)), Insurance (Pass-through), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises; Pest control within the unit; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Signage must be approved by Lessor.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ITS-2022-372",
  "document_date": "2022-11-20",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Johnson Group",
      "entity_address": "487 Dylan Street\nAlyssabury, IA 87696",
      "contact_person": "Connie Conley"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hughes and Sons",
      "entity_address": "3612 Rachel Way Suite 703\nNew Nicole, PW 97223"
    }
  ],
  "property_details": {
    "property_address": "606 Tracey Branch Suite 452, Suite 1622, South Alexanderton, Kentucky 08626",
    "square_footage": 4873,
    "property_type": "Retail",
    "unit_identifier": "Suite 1622"
  },
  "lease_term": {
    "start_date": "2023-01-15",
    "term_duration_months": 72,
    "renewal_options": [],
    "end_date": "2029-01-14"
  },
  "financial_terms": {
    "base_rent_initial": 8870.89,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-01-15",
        "increase_value": 1.71,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-01-14",
        "increase_value": 8.0,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (14%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5236.18
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9726.86
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}