<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-ESPECIALLY-2023-153

This serves as a summary of the commercial lease executed on 2023-01-02 between the Lessor, Miller-Jones, and Lessee, Velazquez Inc. The subject of this agreement is the Industrial property at 86369 Barnes Garden, Suite 537, New Michelleland, South Carolina 49206, comprising approximately 20,936 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 2023-03-25 and concluding on 2033-03-24. 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 Market Rate.

Financial obligations begin with an initial base rent of $33,027.83, payable on a annually basis. A security deposit of $33,027.83 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 5.5% taking effect on 2024-03-24. Additional rents include Operating Expenses (CAM) (Pro-rata share (2%)), Operating Expenses (CAM) (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Common area maintenance (CAM); Structural repairs to building exterior and roof. The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased 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. Business operations restricted to 8:00 AM to 10:00 PM. No hazardous materials permitted on the premises without prior written consent.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. 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 New Jersey. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ESPECIALLY-2023-153",
  "document_date": "2023-01-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Miller-Jones",
      "contact_person": "Dawn Sanchez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Velazquez Inc",
      "entity_address": "286 Jessica River\nSuttonfort, RI 76719"
    }
  ],
  "property_details": {
    "property_address": "86369 Barnes Garden, Suite 537, New Michelleland, South Carolina 49206",
    "square_footage": 20936,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2023-03-25",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2033-03-24"
  },
  "financial_terms": {
    "base_rent_initial": 33027.83,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-03-24",
        "increase_value": 5.5,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-03-24",
        "increase_value": 3.01,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 2985.48
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution"
      }
    ],
    "security_deposit_amount": 33027.83
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of New Jersey"
  }
}