<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-SENSE-2022-453

This serves as a summary of the commercial lease executed on 2022-12-19 between the Lessor, Williams, Johnson and Black, and Lessee, Heath, Simpson and Case. The subject of this agreement is the Office property at 959 Susan Pines Suite 752, Suite 1158, Danielleview, Louisiana 34790, comprising approximately 9,731 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 2023-01-05 and concluding on 2030-01-04. The tenant holds 1 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 $70,608.39, payable on a annually basis. A security deposit of $70,608.39 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.95 $/sf taking effect on 2024-01-05. Additional rents include Common Area Utilities (Pro-rata share (4%)), Insurance (Pro-rata share (11%)), Common Area Utilities (Pro-rata share (13%)), Common Area Utilities (Pro-rata share (8%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: 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 notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Colorado. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SENSE-2022-453",
  "document_date": "2022-12-19",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Williams, Johnson and Black",
      "entity_address": "907 Wells Roads\nLake Brian, SC 27659",
      "contact_person": "Leslie Wells"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Heath, Simpson and Case",
      "entity_address": "161 Chandler Street Apt. 044\nLongton, MI 12651"
    }
  ],
  "property_details": {
    "property_address": "959 Susan Pines Suite 752, Suite 1158, Danielleview, Louisiana 34790",
    "square_footage": 9731,
    "property_type": "Office",
    "unit_identifier": "Suite 1158"
  },
  "lease_term": {
    "start_date": "2023-01-05",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-01-04"
  },
  "financial_terms": {
    "base_rent_initial": 70608.39,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-01-05",
        "increase_value": 6.95,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-01-04",
        "increase_value": 1.57,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-01-04",
        "increase_value": 0.77,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (4%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 3643.25
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 3540.83
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 3202.52
      }
    ],
    "security_deposit_amount": 70608.39
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "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": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Colorado"
  }
}