<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-SUCCESS-2024-620

This serves as a summary of the commercial lease executed on 2024-04-18 between the Lessor, Beck PLC, and Lessee, Allen Ltd. The subject of this agreement is the Warehouse property at 024 Arthur Lodge Suite 692, Suite 179, Thomasland, New Mexico 64630, comprising approximately 5,801 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 2024-07-12 and concluding on 2029-07-12. 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $27,419.35, payable on a monthly basis. A security deposit of $27,419.35 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.51 $/sf taking effect on 2025-07-12. Additional rents include Operating Expenses (CAM) (Pro-rata share (11%)), Operating Expenses (CAM) (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Common area maintenance (CAM). The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit; Interior non-structural maintenance; 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. Premises to be used solely for general office purposes.

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. 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-SUCCESS-2024-620",
  "document_date": "2024-04-18",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Beck PLC",
      "entity_address": "52336 Buchanan Prairie\nPort Anthonyfort, ND 97811",
      "contact_person": "Amy Charles"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Allen Ltd",
      "entity_address": "6605 Mark Flats Suite 729\nEdwardville, GA 43542"
    }
  ],
  "property_details": {
    "property_address": "024 Arthur Lodge Suite 692, Suite 179, Thomasland, New Mexico 64630",
    "square_footage": 5801,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 179"
  },
  "lease_term": {
    "start_date": "2024-07-12",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2029-07-12"
  },
  "financial_terms": {
    "base_rent_initial": 27419.35,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-12",
        "increase_value": 3.51,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-07-12",
        "increase_value": 8.8,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-07-12",
        "increase_value": 5.07,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (11%)"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5225.72
      }
    ],
    "security_deposit_amount": 27419.35
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}