<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-MANAGE-2024-891

This serves as a summary of the commercial lease executed on 2024-06-17 between the Lessor, Taylor, Gibson and Cook, and Lessee, Nichols and Sons. The subject of this agreement is the Industrial property at 11046 Joseph Gateway Apt. 805, Suite 726, North Juliafort, Hawaii 39288, comprising approximately 9,301 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 84 months, commencing on 2024-11-08 and concluding on 2031-11-08. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $14,141.11, payable on a quarterly basis. A security deposit of $28,282.22 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.78 $/sf taking effect on 2025-11-08. Additional rents include Real Estate Taxes (Pro-rata share (10%)), Insurance (Pass-through), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

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-MANAGE-2024-891",
  "document_date": "2024-06-17",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Taylor, Gibson and Cook",
      "entity_address": "67909 Hinton Road Suite 471\nEast Justin, MN 67773",
      "contact_person": "Debra Williams"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Nichols and Sons",
      "entity_address": "629 Ryan Ways\nFergusonshire, SC 96028"
    }
  ],
  "property_details": {
    "property_address": "11046 Joseph Gateway Apt. 805, Suite 726, North Juliafort, Hawaii 39288",
    "square_footage": 9301,
    "property_type": "Industrial",
    "unit_identifier": "Suite 726"
  },
  "lease_term": {
    "start_date": "2024-11-08",
    "term_duration_months": 84,
    "renewal_options": [],
    "end_date": "2031-11-08"
  },
  "financial_terms": {
    "base_rent_initial": 14141.11,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-11-08",
        "increase_value": 7.78,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-11-08",
        "increase_value": 6.31,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (10%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4501.36
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2870.9
      }
    ],
    "security_deposit_amount": 28282.22
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}