<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-SURE-2023-723

This serves as a summary of the commercial lease executed on 2023-05-15 between the Lessor, Carlson-Hill, and Lessee, Stewart, Brennan and Johnston. The subject of this agreement is the Retail property at 80533 Nichols Streets, Suite 1633, Lake Emilyport, South Carolina 70994, comprising approximately 18,078 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 36 months, commencing on 2023-05-31 and concluding on 2026-05-30. The tenant holds 1 option(s) to renew, with the first being for a 60-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 $7,511.45, payable on a monthly basis. A security deposit of $15,022.90 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.98 $/sf taking effect on 2024-05-30. Additional rents include Management Fee (Pro-rata share (3%)), Insurance (Pro-rata share (5%)), Common Area Utilities (Pro-rata share (10%)), Common Area Utilities (Pro-rata share (13%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: Minor repairs to plumbing and electrical; Janitorial services within leased premises; Pest control within the unit; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. Premises to be used solely for general office purposes.

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 Binding arbitration in East Angel. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SURE-2023-723",
  "document_date": "2023-05-15",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Carlson-Hill",
      "entity_address": "649 Benjamin Trail Apt. 811\nHollandfort, WY 58233",
      "contact_person": "Cindy Williams"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Stewart, Brennan and Johnston",
      "entity_address": "427 Todd Trace\nLake Carrie, WV 93561"
    }
  ],
  "property_details": {
    "property_address": "80533 Nichols Streets, Suite 1633, Lake Emilyport, South Carolina 70994",
    "square_footage": 18078,
    "property_type": "Retail",
    "unit_identifier": "Suite 1633"
  },
  "lease_term": {
    "start_date": "2023-05-31",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2026-05-30"
  },
  "financial_terms": {
    "base_rent_initial": 7511.45,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-05-30",
        "increase_value": 7.98,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-05-30",
        "increase_value": 2.22,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (3%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 2761.85
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (10%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 8517.9
      }
    ],
    "security_deposit_amount": 15022.9
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Binding arbitration in East Angel"
  }
}