<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-YEAR-2024-420

This serves as a summary of the commercial lease executed on 2024-06-23 between the Lessor, Mckenzie, Leonard and Hill, and Lessee, Evans, King and Martin. The subject of this agreement is the Retail property at 805 Brittany Points, Suite 2418, Alyssaborough, Connecticut 69639, comprising approximately 20,408 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 72 months, commencing on 2024-09-28 and concluding on 2030-09-28. The tenant holds 1 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 Fixed Percentage.

Financial obligations begin with an initial base rent of $3,489.49, payable on a monthly basis. A security deposit of $6,978.98 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.07 $/sf taking effect on 2025-09-28. Additional rents include Common Area Utilities (Fixed annual contribution), Common Area Utilities (Fixed annual contribution), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance; Structural repairs to building exterior and roof. The Lessee's duties include: Interior non-structural maintenance; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent. No structural alterations without Lessor approval.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Nebraska. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-YEAR-2024-420",
  "document_date": "2024-06-23",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Mckenzie, Leonard and Hill",
      "entity_address": "USNV Andrews\nFPO AA 24492",
      "contact_person": "Sarah Harris"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Evans, King and Martin",
      "entity_address": "USS Smith\nFPO AP 99318"
    }
  ],
  "property_details": {
    "property_address": "805 Brittany Points, Suite 2418, Alyssaborough, Connecticut 69639",
    "square_footage": 20408,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2024-09-28",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-09-28"
  },
  "financial_terms": {
    "base_rent_initial": 3489.49,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-09-28",
        "increase_value": 7.07,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-09-28",
        "increase_value": 6.87,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 6978.98
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Nebraska"
  }
}