<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-FLOOR-2023-199

This serves as a summary of the commercial lease executed on 2023-07-27 between the Lessor, Long and Sons, and Lessee, Dunn-Brown. The subject of this agreement is the Retail property at 2853 Delacruz Points Apt. 468, Suite 1870, Lisaville, Alaska 46048, comprising approximately 7,829 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 2024-01-06 and concluding on 2031-01-05. The tenant holds 2 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 $7,626.40, payable on a quarterly basis. A security deposit of $7,626.40 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.33 $/sf taking effect on 2025-01-05. Additional rents include Insurance (Pro-rata share (6%)), Operating Expenses (CAM) (Pass-through), Common Area Utilities (Pro-rata share (14%)), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM); Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM.

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 present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-FLOOR-2023-199",
  "document_date": "2023-07-27",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Long and Sons",
      "entity_address": "4964 Michael Cove Suite 206\nHoland, MP 04630"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Dunn-Brown",
      "entity_address": "0376 Pacheco Manors\nSouth Christineview, OH 23582"
    }
  ],
  "property_details": {
    "property_address": "2853 Delacruz Points Apt. 468, Suite 1870, Lisaville, Alaska 46048",
    "square_footage": 7829,
    "property_type": "Retail",
    "unit_identifier": "Suite 1870"
  },
  "lease_term": {
    "start_date": "2024-01-06",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2031-01-05"
  },
  "financial_terms": {
    "base_rent_initial": 7626.4,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-01-05",
        "increase_value": 1.33,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-01-05",
        "increase_value": 1.35,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-01-05",
        "increase_value": 9.03,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2028-01-05",
        "increase_value": 9.69,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 9931.04
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6869.99
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (14%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 7626.4
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}