<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-OK-2024-553

This serves as a summary of the commercial lease executed on 2024-06-04 between the Lessor, Anderson-Jones, and Lessee, Compton-Stewart. The subject of this agreement is the Retail property at 368 Underwood Mission, Suite 2406, Martinezbury, Texas 85081, comprising approximately 2,846 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 60 months, commencing on 2024-07-25 and concluding on 2029-07-25. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $8,763.47, payable on a quarterly basis. A security deposit of $17,526.94 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.97% taking effect on 2025-07-25. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Insurance (Pro-rata share (5%)), Real Estate Taxes (Fixed annual contribution), Real Estate Taxes (Pro-rata share (4%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent.

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. Any potential disputes are to be resolved via Mediation followed by litigation in the State of North Carolina. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-OK-2024-553",
  "document_date": "2024-06-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Anderson-Jones",
      "entity_address": "729 Julie Landing Suite 692\nWest Claudia, GA 89619",
      "contact_person": "Michael Steele"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Compton-Stewart",
      "entity_address": "063 Lori Drive\nPhillipsstad, IL 33685"
    }
  ],
  "property_details": {
    "property_address": "368 Underwood Mission, Suite 2406, Martinezbury, Texas 85081",
    "square_footage": 2846,
    "property_type": "Retail",
    "unit_identifier": "Suite 2406"
  },
  "lease_term": {
    "start_date": "2024-07-25",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2029-07-25"
  },
  "financial_terms": {
    "base_rent_initial": 8763.47,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-07-25",
        "increase_value": 6.97,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-07-25",
        "increase_value": 6.45,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4852.77
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 3729.84
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (4%)",
        "estimated_annual_cost": 9690.52
      }
    ],
    "security_deposit_amount": 17526.94
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of North Carolina"
  }
}