<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-CIVIL-2024-337

This serves as a summary of the commercial lease executed on 2024-06-26 between the Lessor, Jennings-Taylor, and Lessee, Shaffer, Crawford and Williams. The subject of this agreement is the Retail property at 8533 Shannon Mountains Apt. 747, Suite 2318, Gallegosview, Connecticut 33187, comprising approximately 11,407 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 36 months, commencing on 2024-10-10 and concluding on 2027-10-10. The tenant holds 1 option(s) to renew, with the first being for a 24-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 $50,796.13, payable on a annually basis. A security deposit of $50,796.13 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.32% taking effect on 2025-10-10. Additional rents include Common Area Utilities (Pro-rata share (3%)), Management Fee (Fixed annual contribution), Real Estate Taxes (Pass-through), Real Estate Taxes (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance; All utility payments for the premises; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. 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-CIVIL-2024-337",
  "document_date": "2024-06-26",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Jennings-Taylor",
      "contact_person": "Carlos Allen"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Shaffer, Crawford and Williams"
    }
  ],
  "property_details": {
    "property_address": "8533 Shannon Mountains Apt. 747, Suite 2318, Gallegosview, Connecticut 33187",
    "square_footage": 11407,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2024-10-10",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2027-10-10"
  },
  "financial_terms": {
    "base_rent_initial": 50796.13,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-10-10",
        "increase_value": 6.32,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-10-10",
        "increase_value": 3.22,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-10-10",
        "increase_value": 7.33,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 6949.62
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4841.39
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5089.3
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 50796.13
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "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."
  }
}