<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-EACH-2023-635

This serves as a summary of the commercial lease executed on 2023-12-09 between the Lessor, Nolan-Hurst, and Lessee, Lewis-Rose. The subject of this agreement is the Warehouse property at 19723 Nicholson Heights Suite 038, Suite 2329, West Laurie, South Dakota 21301, comprising approximately 11,780 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 2024-04-25 and concluding on 2027-04-25. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $83,815.53, payable on a quarterly basis. A security deposit of $83,815.53 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.05 $/sf taking effect on 2025-04-25. Additional rents include Real Estate Taxes (Pro-rata share (8%)), Common Area Utilities (Pro-rata share (3%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. 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: 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 Binding arbitration in East Normanville. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-EACH-2023-635",
  "document_date": "2023-12-09",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Nolan-Hurst",
      "entity_address": "USNS Smith\nFPO AP 23762"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Lewis-Rose"
    }
  ],
  "property_details": {
    "property_address": "19723 Nicholson Heights Suite 038, Suite 2329, West Laurie, South Dakota 21301",
    "square_footage": 11780,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 2329"
  },
  "lease_term": {
    "start_date": "2024-04-25",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2027-04-25"
  },
  "financial_terms": {
    "base_rent_initial": 83815.53,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-04-25",
        "increase_value": 7.05,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-04-25",
        "increase_value": 8.25,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-04-25",
        "increase_value": 9.59,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-04-24",
        "increase_value": 5.89,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 9058.51
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 3900.21
      }
    ],
    "security_deposit_amount": 83815.53
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "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": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in East Normanville"
  }
}