<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-DEMOCRATIC-2024-197

This serves as a summary of the commercial lease executed on 2024-07-28 between the Lessor, Chan-Miles, and Lessee, Smith-Green. The subject of this agreement is the Retail property at 801 Ramirez Green, Suite 2200, North Catherineland, Kentucky 99824, comprising approximately 7,197 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 2024-11-04. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $66,474.33, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 1.54 $/sf taking effect on 2025-11-04. Additional rents include Common Area Utilities (Pro-rata share (15%)), Common Area Utilities (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance; Pest control within the unit; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Business operations restricted to 8:00 AM to 10:00 PM.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. 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 Kentucky. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-DEMOCRATIC-2024-197",
  "document_date": "2024-07-28",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Chan-Miles",
      "entity_address": "65967 Sarah Ports\nJasonhaven, TN 15791",
      "contact_person": "Amy Moore"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Smith-Green",
      "entity_address": "7575 Ian Light\nSamanthatown, ND 41137"
    }
  ],
  "property_details": {
    "property_address": "801 Ramirez Green, Suite 2200, North Catherineland, Kentucky 99824",
    "square_footage": 7197,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2024-11-04",
    "term_duration_months": 84,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 66474.33,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-11-04",
        "increase_value": 1.54,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-11-04",
        "increase_value": 2.2,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-11-04",
        "increase_value": 5.25,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-11-03",
        "increase_value": 3.45,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 9780.05
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5671.75
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Kentucky"
  }
}