<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-DIFFERENCE-2023-562

This serves as a summary of the commercial lease executed on 2023-06-28 between the Lessor, King Inc, and Lessee, Terrell-Coleman. The subject of this agreement is the Warehouse property at 0180 Conway Falls Suite 526, Suite 1023, Fergusonmouth, Indiana 62105, comprising approximately 17,245 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 2023-12-18 and concluding on 2030-12-17. 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 Market Rate.

Financial obligations begin with an initial base rent of $6,774.34, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 9.36% taking effect on 2024-12-17. Additional rents include Operating Expenses (CAM) (Pro-rata share (5%)), Management Fee (Pro-rata share (3%)), Real Estate Taxes (Pass-through), Real Estate Taxes (Pro-rata share (9%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Common area maintenance (CAM); Structural repairs to building exterior and roof. The Lessee's duties include: Janitorial services within leased premises; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. 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. Any potential disputes are to be resolved via Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-DIFFERENCE-2023-562",
  "document_date": "2023-06-28",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "King Inc",
      "contact_person": "Andrew Harper"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Terrell-Coleman",
      "entity_address": "904 Julie Tunnel Apt. 413\nNathanchester, VT 37299"
    }
  ],
  "property_details": {
    "property_address": "0180 Conway Falls Suite 526, Suite 1023, Fergusonmouth, Indiana 62105",
    "square_footage": 17245,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1023"
  },
  "lease_term": {
    "start_date": "2023-12-18",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-12-17"
  },
  "financial_terms": {
    "base_rent_initial": 6774.34,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-12-17",
        "increase_value": 9.36,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-12-17",
        "increase_value": 6.07,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-12-17",
        "increase_value": 6.85,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-12-17",
        "increase_value": 4.34,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 4078.06
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 3345.25
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9264.23
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 7019.17
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "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.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}