<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-FORWARD-2024-245

This serves as a summary of the commercial lease executed on 2024-01-05 between the Lessor, Perkins Inc, and Lessee, Reilly-King. The subject of this agreement is the Office property at 479 Ray Gardens, Suite 1526, Scottmouth, Hawaii 32497, comprising approximately 14,938 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 2024-03-13. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $43,553.56, payable on a monthly basis. A security deposit of $43,553.56 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.02 $/sf taking effect on 2025-03-13. Additional rents include Operating Expenses (CAM) (Pass-through), Management Fee (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal; Parking lot maintenance. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance; 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 hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor.

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 notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Florida. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-FORWARD-2024-245",
  "document_date": "2024-01-05",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Perkins Inc"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Reilly-King",
      "entity_address": "1575 Johnson Plaza Suite 866\nSouth Heidi, VI 50803"
    }
  ],
  "property_details": {
    "property_address": "479 Ray Gardens, Suite 1526, Scottmouth, Hawaii 32497",
    "square_footage": 14938,
    "property_type": "Office",
    "unit_identifier": "Suite 1526"
  },
  "lease_term": {
    "start_date": "2024-03-13",
    "term_duration_months": 60,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 43553.56,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-03-13",
        "increase_value": 1.02,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-03-13",
        "increase_value": 7.27,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-03-13",
        "increase_value": 6.49,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6530.35
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 4076.97
      }
    ],
    "security_deposit_amount": 43553.56
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "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 Florida"
  }
}