<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-ADD-2023-498

This serves as a summary of the commercial lease executed on 2023-12-11 between the Lessor, Thompson-Crawford, and Lessee, Hawkins-Taylor. The subject of this agreement is the Warehouse property at 365 Debra View, Suite 1513, Michaelton, California 33878, comprising approximately 20,425 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 2024-03-09 and concluding on 2034-03-09. The tenant holds 1 option(s) to renew, with the first being for a 36-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 $9,898.49, payable on a monthly basis. A security deposit of $19,796.98 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.91 $/sf taking effect on 2025-03-09. Additional rents include Real Estate Taxes (Pro-rata share (4%)), Management Fee (Pro-rata share (13%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; All utility payments for the premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. 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: Requires prior written consent from Lessor, not to be unreasonably withheld. 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-ADD-2023-498",
  "document_date": "2023-12-11",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Thompson-Crawford",
      "entity_address": "410 Hodges Ferry Suite 235\nNew Joseph, NH 18544",
      "contact_person": "Keith Brown"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hawkins-Taylor",
      "entity_address": "6007 Barnes Viaduct\nGregoryburgh, TN 87585"
    }
  ],
  "property_details": {
    "property_address": "365 Debra View, Suite 1513, Michaelton, California 33878",
    "square_footage": 20425,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1513"
  },
  "lease_term": {
    "start_date": "2024-03-09",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2034-03-09"
  },
  "financial_terms": {
    "base_rent_initial": 9898.49,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-09",
        "increase_value": 8.91,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-09",
        "increase_value": 8.13,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (4%)",
        "estimated_annual_cost": 3819.86
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 2952.15
      }
    ],
    "security_deposit_amount": 19796.98
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "All utility payments for the premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "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": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}