<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-BIT-2022-750

This serves as a summary of the commercial lease executed on 2022-11-28 between the Lessor, Roberts and Sons, and Lessee, Buchanan-Jones. The subject of this agreement is the Warehouse property at 997 Rodney Way, Suite 751, Piercetown, Wisconsin 66824, comprising approximately 19,110 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 2023-03-20 and concluding on 2028-03-19. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $6,931.39, payable on a quarterly basis. A security deposit of $6,931.39 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.54% taking effect on 2024-03-19. Additional rents include Real Estate Taxes (Fixed annual contribution), Real Estate Taxes (Pass-through), Management Fee (Pro-rata share (2%)), Insurance (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance. The Lessee's duties include: Interior non-structural maintenance; All utility payments for the premises; Minor repairs to plumbing and electrical; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No structural alterations without Lessor approval. Signage must be approved by Lessor.

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 Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BIT-2022-750",
  "document_date": "2022-11-28",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Roberts and Sons"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Buchanan-Jones",
      "entity_address": "5681 Julie Park Apt. 067\nWest Matthew, OH 01611"
    }
  ],
  "property_details": {
    "property_address": "997 Rodney Way, Suite 751, Piercetown, Wisconsin 66824",
    "square_footage": 19110,
    "property_type": "Warehouse"
  },
  "lease_term": {
    "start_date": "2023-03-20",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2028-03-19"
  },
  "financial_terms": {
    "base_rent_initial": 6931.39,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-03-19",
        "increase_value": 2.54,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-03-19",
        "increase_value": 1.62,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-19",
        "increase_value": 4.48,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8783.03
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 2633.14
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5492.76
      }
    ],
    "security_deposit_amount": 6931.39
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}