<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-THIS-2024-641

This serves as a summary of the commercial lease executed on 2024-06-22 between the Lessor, Key LLC, and Lessee, Bradley-Johnson. The subject of this agreement is the Industrial property at 659 Megan Cove, Suite 487, Lake Jennifer, Indiana 20438, comprising approximately 15,845 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 2024-06-27. The tenant holds 2 option(s) to renew, with the first being for a 36-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 $1,169.99, payable on a annually basis. A security deposit of $2,339.98 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.48 $/sf taking effect on 2025-06-27. Additional rents include Insurance (Pro-rata share (6%)), Insurance (Fixed annual contribution), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. 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: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-THIS-2024-641",
  "document_date": "2024-06-22",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Key LLC",
      "entity_address": "606 Webb Underpass Suite 538\nEast Huntermouth, AR 38974",
      "contact_person": "Sharon Clark"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Bradley-Johnson",
      "entity_address": "2094 Melissa Ports\nAmberberg, HI 74883"
    }
  ],
  "property_details": {
    "property_address": "659 Megan Cove, Suite 487, Lake Jennifer, Indiana 20438",
    "square_footage": 15845,
    "property_type": "Industrial",
    "unit_identifier": "Suite 487"
  },
  "lease_term": {
    "start_date": "2024-06-27",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 1169.99,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-06-27",
        "increase_value": 3.48,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-06-27",
        "increase_value": 0.78,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-06-27",
        "increase_value": 6.22,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 3772.44
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4640.38
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6993.65
      }
    ],
    "security_deposit_amount": 2339.98
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}