<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-LONG-2024-958

This serves as a summary of the commercial lease executed on 2024-07-21 between the Lessor, Melendez LLC, and Lessee, Sweeney and Sons. The subject of this agreement is the Retail property at 97657 Erickson Ranch Suite 128, Suite 526, Port Jacob, Hawaii 55431, comprising approximately 4,803 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 2024-12-09 and concluding on 2029-12-09. The tenant holds 2 option(s) to renew, with the first being for a 60-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 $28,987.22, payable on a monthly basis. A security deposit of $28,987.22 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.92% taking effect on 2025-12-09. Additional rents include Insurance (Pro-rata share (7%)), Real Estate Taxes (Pro-rata share (13%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal; HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance; 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. 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 present in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Alabama. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-LONG-2024-958",
  "document_date": "2024-07-21",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Melendez LLC",
      "entity_address": "7219 Wanda Meadows\nEast Rebecca, AL 36789",
      "contact_person": "Diane Clark"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Sweeney and Sons",
      "entity_address": "3339 Gabriel Tunnel Suite 745\nDavidfort, SC 98434"
    }
  ],
  "property_details": {
    "property_address": "97657 Erickson Ranch Suite 128, Suite 526, Port Jacob, Hawaii 55431",
    "square_footage": 4803,
    "property_type": "Retail",
    "unit_identifier": "Suite 526"
  },
  "lease_term": {
    "start_date": "2024-12-09",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2029-12-09"
  },
  "financial_terms": {
    "base_rent_initial": 28987.22,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-12-09",
        "increase_value": 8.92,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-12-09",
        "increase_value": 6.39,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (7%)"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 9545.81
      }
    ],
    "security_deposit_amount": 28987.22
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "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 Alabama"
  }
}