<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-GIVE-2023-569

This serves as a summary of the commercial lease executed on 2023-04-16 between the Lessor, Jones, Spears and Burns, and Lessee, Hughes-Cortez. The subject of this agreement is the Retail property at 33283 Patricia Locks, Suite 1963, North Justin, Delaware 82000, comprising approximately 5,265 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 2023-08-06. The tenant holds 1 option(s) to renew, with the first being for a 24-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 $1,546.03, payable on a quarterly basis. A security deposit of $1,546.03 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.77% taking effect on 2024-08-05. Additional rents include Common Area Utilities (Fixed annual contribution), Management Fee (Fixed annual contribution), Insurance (Pro-rata share (5%)), Insurance (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; 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. No hazardous materials permitted on the premises without prior written consent. No structural alterations without Lessor approval.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. 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-GIVE-2023-569",
  "document_date": "2023-04-16",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Jones, Spears and Burns",
      "entity_address": "4293 Long Lakes\nSouth Nicole, AR 88460",
      "contact_person": "Rebecca Johnson"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hughes-Cortez",
      "entity_address": "699 Charles Roads\nAlyssashire, NJ 87102"
    }
  ],
  "property_details": {
    "property_address": "33283 Patricia Locks, Suite 1963, North Justin, Delaware 82000",
    "square_footage": 5265,
    "property_type": "Retail",
    "unit_identifier": "Suite 1963"
  },
  "lease_term": {
    "start_date": "2023-08-06",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 1546.03,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-08-05",
        "increase_value": 3.77,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-05",
        "increase_value": 7.63,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-08-05",
        "increase_value": 5.64,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-08-05",
        "increase_value": 6.75,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9815.82
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 4930.21
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3211.28
      }
    ],
    "security_deposit_amount": 1546.03
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}