<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-ECONOMIC-2024-529

This serves as a summary of the commercial lease executed on 2024-05-09 between the Lessor, Coleman, Davis and Hatfield, and Lessee, Torres, Glenn and Jackson. The subject of this agreement is the Warehouse property at 203 Brown Viaduct Suite 570, Suite 740, West Melissaton, Rhode Island 93826, comprising approximately 12,583 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 2024-06-14 and concluding on 2030-06-14. The tenant holds 2 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $8,646.30, payable on a annually basis. A security deposit of $8,646.30 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.97 $/sf taking effect on 2025-06-14. Additional rents include Insurance (Fixed annual contribution), Real Estate Taxes (Pro-rata share (10%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: 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. 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: 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-ECONOMIC-2024-529",
  "document_date": "2024-05-09",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Coleman, Davis and Hatfield",
      "entity_address": "794 Barber Circles\nSouth Maurice, SC 25721",
      "contact_person": "Tamara Cortez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Torres, Glenn and Jackson",
      "entity_address": "USNV Smith\nFPO AE 76394"
    }
  ],
  "property_details": {
    "property_address": "203 Brown Viaduct Suite 570, Suite 740, West Melissaton, Rhode Island 93826",
    "square_footage": 12583,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 740"
  },
  "lease_term": {
    "start_date": "2024-06-14",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-06-14"
  },
  "financial_terms": {
    "base_rent_initial": 8646.3,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-06-14",
        "increase_value": 3.97,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-06-14",
        "increase_value": 5.41,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1274.26
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (10%)"
      }
    ],
    "security_deposit_amount": 8646.3
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Premises to be used solely for general office purposes.",
    "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."
  }
}