<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-RUN-2022-993

This serves as a summary of the commercial lease executed on 2022-11-09 between the Lessor, Jones Inc, and Lessee, Ballard, Bowers and Rosales. The subject of this agreement is the Warehouse property at 572 Michael Rapid Suite 602, Suite 1249, Batesbury, New Hampshire 37449, comprising approximately 3,521 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 2023-02-01. 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 Fixed Percentage.

Financial obligations begin with an initial base rent of $54,411.18, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 1.75 $/sf taking effect on 2024-02-01. Additional rents include Insurance (Pro-rata share (4%)), Operating Expenses (CAM) (Pass-through), Real Estate Taxes (Pass-through), Insurance (Pro-rata share (8%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; All utility payments for the premises; Janitorial services within leased premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Premises to be used solely for general office purposes. Business operations restricted to 8:00 AM to 10:00 PM.

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. Any potential disputes are to be resolved via Binding arbitration in Michaelshire. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-RUN-2022-993",
  "document_date": "2022-11-09",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Jones Inc",
      "entity_address": "2449 Christopher Spur\nPort Kayla, DE 21127",
      "contact_person": "Lauren Jones"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ballard, Bowers and Rosales"
    }
  ],
  "property_details": {
    "property_address": "572 Michael Rapid Suite 602, Suite 1249, Batesbury, New Hampshire 37449",
    "square_footage": 3521,
    "property_type": "Warehouse"
  },
  "lease_term": {
    "start_date": "2023-02-01",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 54411.18,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-02-01",
        "increase_value": 1.75,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-01-31",
        "increase_value": 8.37,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-01-31",
        "increase_value": 8.83,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-01-31",
        "increase_value": 2.82,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (4%)"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8547.16
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 9253.07
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Janitorial services within leased premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in Michaelshire"
  }
}