<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-COST-2024-266

This serves as a summary of the commercial lease executed on 2024-06-17 between the Lessor, Patterson, Carroll and Santiago, and Lessee, Jones, Robinson and Garcia. The subject of this agreement is the Retail property at 62467 Taylor Brooks Suite 034, Suite 304, South Jamesport, New Mexico 35978, comprising approximately 24,345 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 2024-08-31 and concluding on 2029-08-31. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $6,607.35, payable on a annually basis. A security deposit of $6,607.35 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.84 $/sf taking effect on 2025-08-31. Additional rents include Real Estate Taxes (Pass-through), Common Area Utilities (Pass-through), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical. 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.

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 present in the agreement. Any potential disputes are to be resolved via Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-COST-2024-266",
  "document_date": "2024-06-17",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Patterson, Carroll and Santiago",
      "contact_person": "Larry Carpenter"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Jones, Robinson and Garcia",
      "entity_address": "24171 Scott Springs\nDawnstad, NH 41770"
    }
  ],
  "property_details": {
    "property_address": "62467 Taylor Brooks Suite 034, Suite 304, South Jamesport, New Mexico 35978",
    "square_footage": 24345,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2024-08-31",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2029-08-31"
  },
  "financial_terms": {
    "base_rent_initial": 6607.35,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-31",
        "increase_value": 1.84,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-08-31",
        "increase_value": 8.61,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-08-31",
        "increase_value": 0.53,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2028-08-30",
        "increase_value": 5.21,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8622.74
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2534.54
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1053.08
      }
    ],
    "security_deposit_amount": 6607.35
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}