<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-TAX-2024-985

This serves as a summary of the commercial lease executed on 2024-06-22 between the Lessor, Bell, Diaz and Knight, and Lessee, Kennedy, Rhodes and Taylor. The subject of this agreement is the Office property at 79457 Marcus Run, Suite 2164, Lake Kellyton, Mississippi 04087, comprising approximately 6,845 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 2024-11-19. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $17,694.75, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 3.91% taking effect on 2025-11-19. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Management Fee (Fixed annual contribution), Common Area Utilities (Fixed annual contribution), Real Estate Taxes (Pro-rata share (4%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof. The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical; 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: 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 New Tammyland. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-TAX-2024-985",
  "document_date": "2024-06-22",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Bell, Diaz and Knight",
      "contact_person": "David Reyes"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Kennedy, Rhodes and Taylor",
      "entity_address": "910 Edward Glens Apt. 542\nAngelaton, MN 71553"
    }
  ],
  "property_details": {
    "property_address": "79457 Marcus Run, Suite 2164, Lake Kellyton, Mississippi 04087",
    "square_footage": 6845,
    "property_type": "Office",
    "unit_identifier": "Suite 2164"
  },
  "lease_term": {
    "start_date": "2024-11-19",
    "term_duration_months": 36,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 17694.75,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-11-19",
        "increase_value": 3.91,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-11-19",
        "increase_value": 2.54,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-11-19",
        "increase_value": 9.55,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1839.26
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8895.93
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4942.76
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (4%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "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": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in New Tammyland"
  }
}