<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-TRADE-2022-618

This serves as a summary of the commercial lease executed on 2022-11-05 between the Lessor, Bailey Inc, and Lessee, Morris Ltd. The subject of this agreement is the Retail property at 17613 Richmond Cape Suite 546, Suite 161, Sheltonside, Georgia 48934, comprising approximately 3,965 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 60 months, commencing on 2022-11-23. The tenant holds 2 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $2,729.09, payable on a monthly basis. A security deposit of $2,729.09 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.1% taking effect on 2023-11-23. Additional rents include Insurance (Pass-through), Operating Expenses (CAM) (Pass-through), Management Fee (Fixed annual contribution), Operating Expenses (CAM) (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; HVAC system maintenance and replacement; Landscaping and snow removal. The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical; Interior non-structural maintenance; Pest control within the unit. 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. Signage must be approved by Lessor.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-TRADE-2022-618",
  "document_date": "2022-11-05",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Bailey Inc",
      "entity_address": "309 Petersen Village Apt. 146\nPaynebury, WA 06192",
      "contact_person": "Justin Barrett"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Morris Ltd",
      "entity_address": "41873 Martin Shoals Suite 243\nSouth Jasonbury, MO 10872"
    }
  ],
  "property_details": {
    "property_address": "17613 Richmond Cape Suite 546, Suite 161, Sheltonside, Georgia 48934",
    "square_footage": 3965,
    "property_type": "Retail",
    "unit_identifier": "Suite 161"
  },
  "lease_term": {
    "start_date": "2022-11-23",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 2729.09,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2023-11-23",
        "increase_value": 3.1,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-11-22",
        "increase_value": 2.97,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8858.52
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9016.57
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7095.35
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (11%)"
      }
    ],
    "security_deposit_amount": 2729.09
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}