<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-NEWS-2024-986

This serves as a summary of the commercial lease executed on 2024-04-16 between the Lessor, Alvarado-Haas, and Lessee, Lamb-Johnson. The subject of this agreement is the Warehouse property at 829 Joseph Squares Suite 466, Suite 556, North Beverlyview, Wyoming 72550, comprising approximately 11,935 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 2024-09-05 and concluding on 2030-09-05. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $5,015.88, payable on a annually basis. A security deposit of $10,031.76 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.1 $/sf taking effect on 2025-09-05. Additional rents include Operating Expenses (CAM) (Pro-rata share (11%)), Common Area Utilities (Pass-through), Real Estate Taxes (Pro-rata share (7%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Structural repairs to building exterior and roof. The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. Business operations restricted to 8:00 AM to 10:00 PM. No hazardous materials permitted on the premises without prior written consent.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. 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 Maine. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-NEWS-2024-986",
  "document_date": "2024-04-16",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Alvarado-Haas",
      "entity_address": "13647 Kelsey Rue Apt. 921\nWest Darlene, IN 89722",
      "contact_person": "Martin Parsons"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Lamb-Johnson",
      "entity_address": "591 Taylor Corner\nSouth Zachary, MP 14361"
    }
  ],
  "property_details": {
    "property_address": "829 Joseph Squares Suite 466, Suite 556, North Beverlyview, Wyoming 72550",
    "square_footage": 11935,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 556"
  },
  "lease_term": {
    "start_date": "2024-09-05",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2030-09-05"
  },
  "financial_terms": {
    "base_rent_initial": 5015.88,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-09-05",
        "increase_value": 9.1,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-09-05",
        "increase_value": 9.01,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 7000.63
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4051.45
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 9730.41
      }
    ],
    "security_deposit_amount": 10031.76
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Maine"
  }
}