<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-POLITICAL-2024-203

This serves as a summary of the commercial lease executed on 2024-02-29 between the Lessor, Wallace-Brennan, and Lessee, Smith, Duncan and Mason. The subject of this agreement is the Office property at 06323 Dustin Crest, Suite 2313, North Darius, Missouri 99879, comprising approximately 17,731 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 2024-08-24 and concluding on 2031-08-24. 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $4,725.94, payable on a quarterly basis. A security deposit of $4,725.94 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.93% taking effect on 2025-08-24. Additional rents include Insurance (Pro-rata share (5%)), Common Area Utilities (Pro-rata share (12%)), Insurance (Pro-rata share (3%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; 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. No structural alterations without Lessor approval. 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 present in the agreement. Any potential disputes are to be resolved via Binding arbitration in Destinyberg. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-POLITICAL-2024-203",
  "document_date": "2024-02-29",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Wallace-Brennan",
      "entity_address": "444 Miller Square Apt. 897\nJeffreymouth, DE 83207"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Smith, Duncan and Mason",
      "entity_address": "960 Diana Walks\nPort Courtneyview, AK 24404"
    }
  ],
  "property_details": {
    "property_address": "06323 Dustin Crest, Suite 2313, North Darius, Missouri 99879",
    "square_footage": 17731,
    "property_type": "Office",
    "unit_identifier": "Suite 2313"
  },
  "lease_term": {
    "start_date": "2024-08-24",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2031-08-24"
  },
  "financial_terms": {
    "base_rent_initial": 4725.94,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-08-24",
        "increase_value": 0.93,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-08-24",
        "increase_value": 4.48,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-08-24",
        "increase_value": 4.89,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (5%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (12%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 7493.03
      }
    ],
    "security_deposit_amount": 4725.94
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in Destinyberg"
  }
}