<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-SEE-2023-288

This serves as a summary of the commercial lease executed on 2023-10-02 between the Lessor, Spears, Medina and Lewis, and Lessee, Buchanan PLC. The subject of this agreement is the Office property at 7177 Gregory Rapid, Suite 2461, Kimberlyhaven, Delaware 09942, comprising approximately 24,245 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 2024-02-22 and concluding on 2029-02-21. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $4,447.26, payable on a annually basis. A security deposit of $8,894.52 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.2% taking effect on 2025-02-21. Additional rents include Management Fee (Pro-rata share (11%)), Common Area Utilities (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal. The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical; Pest control within the unit; 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 structural alterations without Lessor approval. Signage must be approved by Lessor.

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 notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Connecticut. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SEE-2023-288",
  "document_date": "2023-10-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Spears, Medina and Lewis",
      "contact_person": "Amy Sanders"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Buchanan PLC",
      "entity_address": "18825 Wilson Passage\nPattonchester, MT 76847"
    }
  ],
  "property_details": {
    "property_address": "7177 Gregory Rapid, Suite 2461, Kimberlyhaven, Delaware 09942",
    "square_footage": 24245,
    "property_type": "Office"
  },
  "lease_term": {
    "start_date": "2024-02-22",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2029-02-21"
  },
  "financial_terms": {
    "base_rent_initial": 4447.26,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-02-21",
        "increase_value": 7.2,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-02-21",
        "increase_value": 9.68,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-02-21",
        "increase_value": 4.43,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-02-21",
        "increase_value": 3.49,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (11%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6953.77
      }
    ],
    "security_deposit_amount": 8894.52
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Connecticut"
  }
}