<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-PLAY-2022-355

This serves as a summary of the commercial lease executed on 2022-11-16 between the Lessor, Meyer-Delacruz, and Lessee, Booth, Marshall and Howard. The subject of this agreement is the Office property at 2374 Courtney Burgs Suite 178, Suite 2085, North Angelastad, Connecticut 14026, comprising approximately 8,682 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 2023-04-19 and concluding on 2029-04-18. The tenant holds 1 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $3,235.29, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 2.36 $/sf taking effect on 2024-04-18. Additional rents include Operating Expenses (CAM) (Pass-through), Real Estate Taxes (Pass-through), Common Area Utilities (Pro-rata share (11%)), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement. The Lessee's duties include: All utility payments for the premises; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No structural alterations without Lessor approval. 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 only to an affiliate entity with 30 days prior notice. A force majeure clause is notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-PLAY-2022-355",
  "document_date": "2022-11-16",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Meyer-Delacruz",
      "entity_address": "525 Bradley Wells\nSharonhaven, IL 81320",
      "contact_person": "Sabrina Boyd"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Booth, Marshall and Howard"
    }
  ],
  "property_details": {
    "property_address": "2374 Courtney Burgs Suite 178, Suite 2085, North Angelastad, Connecticut 14026",
    "square_footage": 8682,
    "property_type": "Office"
  },
  "lease_term": {
    "start_date": "2023-04-19",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2029-04-18"
  },
  "financial_terms": {
    "base_rent_initial": 3235.29,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-04-18",
        "increase_value": 2.36,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-04-18",
        "increase_value": 1.63,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-04-18",
        "increase_value": 8.52,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4631.34
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 8124.62
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9939.64
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}