<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-PERSONAL-2024-128

This serves as a summary of the commercial lease executed on 2024-04-21 between the Lessor, Prince-Wyatt, and Lessee, Powers-Gonzalez. The subject of this agreement is the Warehouse property at 2225 Murphy Fords Apt. 807, Suite 2217, Kerriland, Connecticut 76057, comprising approximately 22,852 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 84 months, commencing on 2024-09-17 and concluding on 2031-09-17. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $4,276.14, payable on a annually basis. A security deposit of $4,276.14 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.43% taking effect on 2025-09-17. Additional rents include Common Area Utilities (Fixed annual contribution), Insurance (Pro-rata share (5%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; All utility payments for the premises. 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: 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 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-PERSONAL-2024-128",
  "document_date": "2024-04-21",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Prince-Wyatt"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Powers-Gonzalez"
    }
  ],
  "property_details": {
    "property_address": "2225 Murphy Fords Apt. 807, Suite 2217, Kerriland, Connecticut 76057",
    "square_footage": 22852,
    "property_type": "Warehouse"
  },
  "lease_term": {
    "start_date": "2024-09-17",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2031-09-17"
  },
  "financial_terms": {
    "base_rent_initial": 4276.14,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-09-17",
        "increase_value": 2.43,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-09-17",
        "increase_value": 3.5,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1604.87
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 3157.99
      }
    ],
    "security_deposit_amount": 4276.14
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "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": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}