<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-NEVER-2024-860

This serves as a summary of the commercial lease executed on 2024-01-04 between the Lessor, Lee-Fisher, and Lessee, Travis Group. The subject of this agreement is the Warehouse property at 659 Graham Extension, Suite 1274, New Stevenburgh, South Carolina 25846, comprising approximately 13,798 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 2024-03-25 and concluding on 2029-03-25. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $7,249.94, payable on a monthly basis. A security deposit of $14,499.88 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.37% taking effect on 2025-03-25. Additional rents include Real Estate Taxes (Pass-through), Real Estate Taxes (Pass-through), Common Area Utilities (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof. The Lessee's duties include: Interior non-structural maintenance; All utility payments for the premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

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 present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-NEVER-2024-860",
  "document_date": "2024-01-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Lee-Fisher",
      "contact_person": "Emily Galloway"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Travis Group",
      "entity_address": "2057 Janet Stravenue\nRobertsonborough, IN 57165"
    }
  ],
  "property_details": {
    "property_address": "659 Graham Extension, Suite 1274, New Stevenburgh, South Carolina 25846",
    "square_footage": 13798,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1274"
  },
  "lease_term": {
    "start_date": "2024-03-25",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2029-03-25"
  },
  "financial_terms": {
    "base_rent_initial": 7249.94,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-03-25",
        "increase_value": 4.37,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-03-25",
        "increase_value": 6.85,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-03-25",
        "increase_value": 3.34,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8211.44
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2132.85
      }
    ],
    "security_deposit_amount": 14499.88
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}