<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-BOX-2024-720

This serves as a summary of the commercial lease executed on 2024-04-16 between the Lessor, Brown Inc, and Lessee, Lee-Torres. The subject of this agreement is the Retail property at 33333 Kyle Row, Suite 1329, West Brenda, Alaska 11336, comprising approximately 2,613 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 2024-06-24 and concluding on 2027-06-24. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $2,448.92, payable on a quarterly basis. A security deposit of $2,448.92 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 5.84 $/sf taking effect on 2025-06-24. Additional rents include Management Fee (Fixed annual contribution), Real Estate Taxes (Pro-rata share (15%)), Management Fee (Fixed annual contribution), Management Fee (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Pest control within the unit; All utility payments for the premises; Janitorial services within leased premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No structural alterations without Lessor approval. Premises to be used solely for general office purposes.

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 present in the agreement. Any potential disputes are to be resolved via Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BOX-2024-720",
  "document_date": "2024-04-16",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Brown Inc",
      "contact_person": "Jennifer Ramirez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Lee-Torres",
      "entity_address": "80019 Martin Mall Apt. 024\nRandallport, MN 55810"
    }
  ],
  "property_details": {
    "property_address": "33333 Kyle Row, Suite 1329, West Brenda, Alaska 11336",
    "square_footage": 2613,
    "property_type": "Retail",
    "unit_identifier": "Suite 1329"
  },
  "lease_term": {
    "start_date": "2024-06-24",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2027-06-24"
  },
  "financial_terms": {
    "base_rent_initial": 2448.92,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-06-24",
        "increase_value": 5.84,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-06-24",
        "increase_value": 6.37,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-06-24",
        "increase_value": 6.66,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2889.56
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (15%)"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 3639.83
      }
    ],
    "security_deposit_amount": 2448.92
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "All utility payments for the premises",
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}