<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-POSITION-2023-892

This serves as a summary of the commercial lease executed on 2023-11-14 between the Lessor, Stokes-Tyler, and Lessee, Davis-Green. The subject of this agreement is the Retail property at 47304 Casey Plain, Suite 607, Manningborough, North Carolina 27115, comprising approximately 15,943 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 2024-03-14. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $8,746.90, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 6.11 $/sf taking effect on 2025-03-14. Additional rents include Insurance (Pro-rata share (13%)), Insurance (Pass-through), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Landscaping and snow removal; Structural repairs to building exterior and roof. The Lessee's duties include: Minor repairs to plumbing and electrical; All utility payments for the premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. 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: 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-POSITION-2023-892",
  "document_date": "2023-11-14",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Stokes-Tyler",
      "entity_address": "548 Reed Gateway Suite 172\nLake Emily, ME 09480",
      "contact_person": "Lance Morse"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Davis-Green",
      "entity_address": "469 Strickland Branch\nGarciaville, NM 20523"
    }
  ],
  "property_details": {
    "property_address": "47304 Casey Plain, Suite 607, Manningborough, North Carolina 27115",
    "square_footage": 15943,
    "property_type": "Retail",
    "unit_identifier": "Suite 607"
  },
  "lease_term": {
    "start_date": "2024-03-14",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 8746.9,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-14",
        "increase_value": 6.11,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-14",
        "increase_value": 3.41,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 1921.03
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7306.72
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2018.21
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}