<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-OPPORTUNITY-2024-520

This serves as a summary of the commercial lease executed on 2024-02-15 between the Lessor, Rios, Brown and Jones, and Lessee, Bennett PLC. The subject of this agreement is the Industrial property at 94149 Deleon Tunnel, Suite 488, Lake Matthewland, Pennsylvania 24013, comprising approximately 2,041 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 72 months, commencing on 2024-08-05 and concluding on 2030-08-05. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $4,303.87, payable on a monthly basis. A security deposit of $4,303.87 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.96% taking effect on 2025-08-05. Additional rents include Real Estate Taxes (Pass-through), Insurance (Pro-rata share (7%)), Insurance (Pro-rata share (15%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal; Common area maintenance (CAM). The Lessee's duties include: Minor repairs to plumbing and electrical; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: 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: Permitted only to an affiliate entity with 30 days prior notice. 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-OPPORTUNITY-2024-520",
  "document_date": "2024-02-15",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Rios, Brown and Jones",
      "entity_address": "2873 Holder Inlet Apt. 526\nWest Jerry, FL 54854"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Bennett PLC",
      "entity_address": "USS Morrison\nFPO AE 29779"
    }
  ],
  "property_details": {
    "property_address": "94149 Deleon Tunnel, Suite 488, Lake Matthewland, Pennsylvania 24013",
    "square_footage": 2041,
    "property_type": "Industrial",
    "unit_identifier": "Suite 488"
  },
  "lease_term": {
    "start_date": "2024-08-05",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-08-05"
  },
  "financial_terms": {
    "base_rent_initial": 4303.87,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-05",
        "increase_value": 1.96,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-08-05",
        "increase_value": 3.64,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-08-05",
        "increase_value": 7.44,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8986.13
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 2809.62
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (15%)"
      }
    ],
    "security_deposit_amount": 4303.87
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "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": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}