<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-SPEAK-2024-865

This serves as a summary of the commercial lease executed on 2024-01-25 between the Lessor, Silva-Davis, and Lessee, Hartman, Garcia and Johnson. The subject of this agreement is the Office property at 022 Justin Knolls, Suite 2058, Katherinebury, Rhode Island 97639, comprising approximately 17,507 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 2024-03-03 and concluding on 2034-03-03. The tenant holds 1 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $3,561.70, payable on a monthly basis. A security deposit of $7,123.40 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.38 $/sf taking effect on 2025-03-03. Additional rents include Common Area Utilities (Fixed annual contribution), Insurance (Fixed annual contribution), Common Area Utilities (Fixed annual contribution), Real Estate Taxes (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal. The Lessee's duties include: All utility payments for the premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent.

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 notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Port Larryside. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SPEAK-2024-865",
  "document_date": "2024-01-25",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Silva-Davis",
      "entity_address": "083 Berger Ways Apt. 082\nRandybury, MA 54502",
      "contact_person": "Michelle Rodriguez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hartman, Garcia and Johnson",
      "entity_address": "12709 Collins Parkways\nNew Johnbury, RI 25376"
    }
  ],
  "property_details": {
    "property_address": "022 Justin Knolls, Suite 2058, Katherinebury, Rhode Island 97639",
    "square_footage": 17507,
    "property_type": "Office",
    "unit_identifier": "Suite 2058"
  },
  "lease_term": {
    "start_date": "2024-03-03",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2034-03-03"
  },
  "financial_terms": {
    "base_rent_initial": 3561.7,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-03",
        "increase_value": 8.38,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-03-03",
        "increase_value": 5.77,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1581.44
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7339.38
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4767.74
      }
    ],
    "security_deposit_amount": 7123.4
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in Port Larryside"
  }
}