<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-HIT-2022-682

This serves as a summary of the commercial lease executed on 2022-12-02 between the Lessor, Wilcox, Baker and Holland, and Lessee, Young and Sons. The subject of this agreement is the Retail property at 01997 Steven Walks, Suite 2002, Lake Laurenburgh, Wisconsin 24393, comprising approximately 4,496 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 120 months, commencing on 2023-01-04 and concluding on 2033-01-03. The tenant holds 1 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 $7,433.58, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 1.07 $/sf taking effect on 2024-01-04. Additional rents include Common Area Utilities (Pass-through), Insurance (Pro-rata share (12%)), Insurance (Pro-rata share (13%)), Real Estate Taxes (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Parking lot maintenance; Landscaping and snow removal. The Lessee's duties include: Janitorial services within leased premises; All utility payments for the premises; Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent.

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 present in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of New Hampshire. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-HIT-2022-682",
  "document_date": "2022-12-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Wilcox, Baker and Holland"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Young and Sons",
      "entity_address": "9772 Raymond Village Apt. 306\nWest Natalie, DC 77522"
    }
  ],
  "property_details": {
    "property_address": "01997 Steven Walks, Suite 2002, Lake Laurenburgh, Wisconsin 24393",
    "square_footage": 4496,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2023-01-04",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2033-01-03"
  },
  "financial_terms": {
    "base_rent_initial": 7433.58,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-01-04",
        "increase_value": 1.07,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-01-03",
        "increase_value": 3.25,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9452.13
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 4297.46
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (13%)"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5760.2
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "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 New Hampshire"
  }
}