<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-VERY-2024-648

This serves as a summary of the commercial lease executed on 2024-03-13 between the Lessor, Hess-Woods, and Lessee, Morris PLC. The subject of this agreement is the Retail property at 93991 Jimenez Crossroad, Suite 2253, Davidfurt, North Dakota 82734, comprising approximately 5,087 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 2024-03-19 and concluding on 2029-03-19. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $7,130.11, payable on a annually basis. A security deposit of $7,130.11 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.66 $/sf taking effect on 2025-03-19. Additional rents include Operating Expenses (CAM) (Pass-through), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent.

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-VERY-2024-648",
  "document_date": "2024-03-13",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hess-Woods",
      "entity_address": "3515 Jason Views\nWest Amanda, FM 81931",
      "contact_person": "Amanda Rodriguez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Morris PLC",
      "entity_address": "94066 Amy Squares\nTiffanyville, CT 92097"
    }
  ],
  "property_details": {
    "property_address": "93991 Jimenez Crossroad, Suite 2253, Davidfurt, North Dakota 82734",
    "square_footage": 5087,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2024-03-19",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2029-03-19"
  },
  "financial_terms": {
    "base_rent_initial": 7130.11,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-19",
        "increase_value": 9.66,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-19",
        "increase_value": 6.88,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-03-19",
        "increase_value": 1.7,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5845.9
      }
    ],
    "security_deposit_amount": 7130.11
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "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."
  }
}