<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-CHILD-2023-619

This serves as a summary of the commercial lease executed on 2023-12-14 between the Lessor, Stewart, Castillo and Bradley, and Lessee, Alvarez, Pennington and Robinson. The subject of this agreement is the Retail property at 9771 Davenport Way Apt. 740, Suite 168, North Heather, Connecticut 66161, comprising approximately 5,512 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 2024-05-11 and concluding on 2031-05-11. 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 $55,219.83, payable on a quarterly basis. A security deposit of $55,219.83 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.55 $/sf taking effect on 2025-05-11. Additional rents include Management Fee (Fixed annual contribution), Real Estate Taxes (Pro-rata share (6%)), Real Estate Taxes (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: Minor repairs to plumbing and electrical; All utility payments for the premises; Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. No structural alterations without Lessor approval.

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 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-CHILD-2023-619",
  "document_date": "2023-12-14",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Stewart, Castillo and Bradley",
      "entity_address": "12509 Deanna Flat\nTeresachester, HI 54310",
      "contact_person": "Richard Pearson"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Alvarez, Pennington and Robinson",
      "entity_address": "6674 Cantu Drives\nNorth Valerie, WI 83670"
    }
  ],
  "property_details": {
    "property_address": "9771 Davenport Way Apt. 740, Suite 168, North Heather, Connecticut 66161",
    "square_footage": 5512,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2024-05-11",
    "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": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2031-05-11"
  },
  "financial_terms": {
    "base_rent_initial": 55219.83,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-05-11",
        "increase_value": 7.55,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-05-11",
        "increase_value": 0.2,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-05-11",
        "increase_value": 5.55,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6827.88
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 1694.36
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 3129.54
      }
    ],
    "security_deposit_amount": 55219.83
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval."
  ],
  "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": "Litigation in the jurisdiction of the property location."
  }
}