<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-BLACK-2024-962

This serves as a summary of the commercial lease executed on 2024-02-12 between the Lessor, White-Simmons, and Lessee, Cook-Warner. The subject of this agreement is the Warehouse property at 007 Austin Path Suite 080, Suite 1246, Michaelberg, New Mexico 23516, comprising approximately 20,009 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 2024-07-11 and concluding on 2029-07-11. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $7,587.07, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 9.91% taking effect on 2025-07-11. Additional rents include Operating Expenses (CAM) (Pass-through), Operating Expenses (CAM) (Pro-rata share (10%)), Management Fee (Pro-rata share (9%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Landscaping and snow removal; Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. Premises to be used solely for general office purposes.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BLACK-2024-962",
  "document_date": "2024-02-12",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "White-Simmons",
      "entity_address": "366 Hendrix Turnpike\nNorth Edward, MH 25410",
      "contact_person": "Erica Reynolds"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Cook-Warner",
      "entity_address": "PSC 1351, Box 6784\nAPO AP 79669"
    }
  ],
  "property_details": {
    "property_address": "007 Austin Path Suite 080, Suite 1246, Michaelberg, New Mexico 23516",
    "square_footage": 20009,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1246"
  },
  "lease_term": {
    "start_date": "2024-07-11",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2029-07-11"
  },
  "financial_terms": {
    "base_rent_initial": 7587.07,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-11",
        "increase_value": 9.91,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-07-11",
        "increase_value": 0.73,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-07-11",
        "increase_value": 2.78,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9707.84
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (10%)",
        "estimated_annual_cost": 6903.19
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (9%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}