<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-POLITICS-2024-981

This serves as a summary of the commercial lease executed on 2024-02-29 between the Lessor, Larson, Morales and Ayala, and Lessee, Johnston Ltd. The subject of this agreement is the Office property at 93769 Lydia Trail Suite 814, Suite 986, Lake Brittany, Kansas 49160, comprising approximately 9,566 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 2024-06-26. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $52,595.15, payable on a monthly basis. A security deposit of $105,190.30 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.49% taking effect on 2025-06-26. Additional rents include Management Fee (Fixed annual contribution), Common Area Utilities (Pass-through), Management Fee (Fixed annual contribution).

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: Pest control within the unit; Interior non-structural maintenance; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: 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: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in West Kristen. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-POLITICS-2024-981",
  "document_date": "2024-02-29",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Larson, Morales and Ayala",
      "entity_address": "9324 Martinez Villages Suite 113\nConniemouth, MS 20824"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Johnston Ltd",
      "entity_address": "818 Williams Summit Suite 497\nAshleybury, TX 20268"
    }
  ],
  "property_details": {
    "property_address": "93769 Lydia Trail Suite 814, Suite 986, Lake Brittany, Kansas 49160",
    "square_footage": 9566,
    "property_type": "Office",
    "unit_identifier": "Suite 986"
  },
  "lease_term": {
    "start_date": "2024-06-26",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 52595.15,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-06-26",
        "increase_value": 9.49,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-06-26",
        "increase_value": 9.17,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-06-26",
        "increase_value": 6.5,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2028-06-25",
        "increase_value": 9.97,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4489.33
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9321.0
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2489.92
      }
    ],
    "security_deposit_amount": 105190.3
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "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": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in West Kristen"
  }
}