<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-PROFESSOR-2023-158

This serves as a summary of the commercial lease executed on 2023-02-24 between the Lessor, Kelly, Bass and Carson, and Lessee, Leach, Peters and Brown. The subject of this agreement is the Retail property at 27103 Mitchell Falls Suite 148, Suite 2429, Lake Sarahshire, Massachusetts 74841, comprising approximately 4,044 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 2023-04-24 and concluding on 2030-04-23. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $9,418.20, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 2.13% taking effect on 2024-04-23. Additional rents include Real Estate Taxes (Pro-rata share (3%)), Real Estate Taxes (Fixed annual contribution), Insurance (Fixed annual contribution), Operating Expenses (CAM) (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Common area maintenance (CAM); Parking lot maintenance. The Lessee's duties include: Minor repairs to plumbing and electrical; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No structural alterations without Lessor approval.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted only to an affiliate entity with 30 days prior notice. A force majeure clause is notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-PROFESSOR-2023-158",
  "document_date": "2023-02-24",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Kelly, Bass and Carson",
      "entity_address": "769 Michelle Throughway\nWest Joseph, WY 55241",
      "contact_person": "Barbara Rodriguez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Leach, Peters and Brown"
    }
  ],
  "property_details": {
    "property_address": "27103 Mitchell Falls Suite 148, Suite 2429, Lake Sarahshire, Massachusetts 74841",
    "square_footage": 4044,
    "property_type": "Retail",
    "unit_identifier": "Suite 2429"
  },
  "lease_term": {
    "start_date": "2023-04-24",
    "term_duration_months": 84,
    "renewal_options": [],
    "end_date": "2030-04-23"
  },
  "financial_terms": {
    "base_rent_initial": 9418.2,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-04-23",
        "increase_value": 2.13,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-04-23",
        "increase_value": 1.01,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-04-23",
        "increase_value": 4.97,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-04-23",
        "increase_value": 6.12,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 7315.65
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4341.86
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9640.38
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6960.12
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Common area maintenance (CAM)",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}