<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-GENERATION-2024-907

This serves as a summary of the commercial lease executed on 2024-03-19 between the Lessor, Hawkins PLC, and Lessee, Garrett, Hale and Smith. The subject of this agreement is the Industrial property at 281 Veronica Port Suite 598, Suite 1073, South Ashleyview, Rhode Island 72452, comprising approximately 23,393 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 2024-09-05 and concluding on 2027-09-05. 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 Fixed Percentage.

Financial obligations begin with an initial base rent of $74,289.21, payable on a monthly basis. A security deposit of $148,578.42 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.61 $/sf taking effect on 2025-09-05. Additional rents include Real Estate Taxes (Pro-rata share (13%)), Operating Expenses (CAM) (Pro-rata share (10%)), Real Estate Taxes (Fixed annual contribution), Real Estate Taxes (Pro-rata share (9%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance; Janitorial services within leased premises; 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. Business operations restricted to 8:00 AM to 10:00 PM.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Rhode Island. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-GENERATION-2024-907",
  "document_date": "2024-03-19",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hawkins PLC",
      "entity_address": "77708 Matthew Land Apt. 916\nMichaelview, LA 25133",
      "contact_person": "Anthony Sims"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Garrett, Hale and Smith",
      "entity_address": "5232 Tyler Summit Apt. 131\nPort Cynthia, FL 66927"
    }
  ],
  "property_details": {
    "property_address": "281 Veronica Port Suite 598, Suite 1073, South Ashleyview, Rhode Island 72452",
    "square_footage": 23393,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1073"
  },
  "lease_term": {
    "start_date": "2024-09-05",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2027-09-05"
  },
  "financial_terms": {
    "base_rent_initial": 74289.21,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-09-05",
        "increase_value": 9.61,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-09-05",
        "increase_value": 6.71,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 5296.42
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (10%)",
        "estimated_annual_cost": 7066.79
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (9%)"
      }
    ],
    "security_deposit_amount": 148578.42
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Rhode Island"
  }
}