<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-2023-278

This serves as a summary of the commercial lease executed on 2023-04-20 between the Lessor, Henderson, Erickson and Morales, and Lessee, Bryant, Allen and Stuart. The subject of this agreement is the Retail property at 469 Janice River, Suite 104, Jessicatown, South Carolina 37345, comprising approximately 17,778 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 2023-04-23 and concluding on 2028-04-22. The tenant holds 1 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $89,465.64, payable on a quarterly basis. A security deposit of $89,465.64 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.35 $/sf taking effect on 2024-04-22. Additional rents include Common Area Utilities (Pass-through), Operating Expenses (CAM) (Fixed annual contribution), Insurance (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance; 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, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Stewartshire. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BIT-2023-278",
  "document_date": "2023-04-20",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Henderson, Erickson and Morales",
      "entity_address": "373 Kevin Port\nSouth Crystal, IL 50631",
      "contact_person": "Kathy Gaines"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Bryant, Allen and Stuart",
      "entity_address": "22150 Jason Parks Suite 846\nPooleberg, MP 98419"
    }
  ],
  "property_details": {
    "property_address": "469 Janice River, Suite 104, Jessicatown, South Carolina 37345",
    "square_footage": 17778,
    "property_type": "Retail",
    "unit_identifier": "Suite 104"
  },
  "lease_term": {
    "start_date": "2023-04-23",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2028-04-22"
  },
  "financial_terms": {
    "base_rent_initial": 89465.64,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-04-22",
        "increase_value": 6.35,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-04-22",
        "increase_value": 4.95,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-04-22",
        "increase_value": 7.8,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-04-22",
        "increase_value": 3.45,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution"
      }
    ],
    "security_deposit_amount": 89465.64
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "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, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in Stewartshire"
  }
}