<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-TOGETHER-2023-973

This serves as a summary of the commercial lease executed on 2023-07-18 between the Lessor, May-Butler, and Lessee, Chang and Sons. The subject of this agreement is the Warehouse property at 578 Michael Valley Apt. 653, Suite 713, South Mary, Arkansas 55040, comprising approximately 3,312 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 84 months, commencing on 2023-11-29 and concluding on 2030-11-28. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $3,310.95, payable on a annually basis. A security deposit of $3,310.95 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.74 $/sf taking effect on 2024-11-28. Additional rents include Management Fee (Pass-through), Management Fee (Pro-rata share (9%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. 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 notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-TOGETHER-2023-973",
  "document_date": "2023-07-18",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "May-Butler",
      "contact_person": "Mark Ramsey"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Chang and Sons",
      "entity_address": "6286 Wilkinson Rapid Suite 225\nMartinezland, NJ 73658"
    }
  ],
  "property_details": {
    "property_address": "578 Michael Valley Apt. 653, Suite 713, South Mary, Arkansas 55040",
    "square_footage": 3312,
    "property_type": "Warehouse"
  },
  "lease_term": {
    "start_date": "2023-11-29",
    "term_duration_months": 84,
    "renewal_options": [],
    "end_date": "2030-11-28"
  },
  "financial_terms": {
    "base_rent_initial": 3310.95,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-11-28",
        "increase_value": 9.74,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-11-28",
        "increase_value": 5.44,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-11-28",
        "increase_value": 8.89,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-11-28",
        "increase_value": 9.77,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3936.88
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 8813.09
      }
    ],
    "security_deposit_amount": 3310.95
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}