<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-FINALLY-2022-900

This serves as a summary of the commercial lease executed on 2022-12-03 between the Lessor, Garcia PLC, and Lessee, White, Hines and Bailey. The subject of this agreement is the Warehouse property at 1834 Mann Drives, Suite 1201, New Elizabeth, South Carolina 67234, comprising approximately 19,573 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 2022-12-15. 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 Fixed Percentage.

Financial obligations begin with an initial base rent of $32,820.50, payable on a annually basis. A security deposit of $32,820.50 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.55% taking effect on 2023-12-15. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. 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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-FINALLY-2022-900",
  "document_date": "2022-12-03",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Garcia PLC",
      "entity_address": "208 Garcia View Suite 878\nToddland, FM 57013",
      "contact_person": "Vanessa Morris"
    },
    {
      "party_type": "Lessee",
      "entity_name": "White, Hines and Bailey",
      "entity_address": "3556 Keith Glens Apt. 009\nNew Stephaniefort, MO 46459"
    }
  ],
  "property_details": {
    "property_address": "1834 Mann Drives, Suite 1201, New Elizabeth, South Carolina 67234",
    "square_footage": 19573,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1201"
  },
  "lease_term": {
    "start_date": "2022-12-15",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 32820.5,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2023-12-15",
        "increase_value": 3.55,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-12-14",
        "increase_value": 7.94,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-12-14",
        "increase_value": 5.27,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-12-14",
        "increase_value": 2.24,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1234.24
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7892.51
      }
    ],
    "security_deposit_amount": 32820.5
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "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."
  }
}