<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-APPLY-2024-948

This serves as a summary of the commercial lease executed on 2024-01-09 between the Lessor, Steele, Fernandez and Jones, and Lessee, Johnson-Ross. The subject of this agreement is the Industrial property at 781 Martinez Gardens Suite 772, Suite 1104, Wallsborough, Alabama 73883, comprising approximately 5,668 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 2024-04-18 and concluding on 2027-04-18. The tenant holds 1 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 Fixed Percentage.

Financial obligations begin with an initial base rent of $88,106.14, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 2.96 $/sf taking effect on 2025-04-18. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Common Area Utilities (Fixed annual contribution), Common Area Utilities (Pro-rata share (9%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit; Interior non-structural maintenance. 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. Signage must be approved by Lessor.

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-APPLY-2024-948",
  "document_date": "2024-01-09",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Steele, Fernandez and Jones",
      "entity_address": "33830 Carla Estate\nWest William, MA 51345",
      "contact_person": "Robin Fischer"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Johnson-Ross"
    }
  ],
  "property_details": {
    "property_address": "781 Martinez Gardens Suite 772, Suite 1104, Wallsborough, Alabama 73883",
    "square_footage": 5668,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1104"
  },
  "lease_term": {
    "start_date": "2024-04-18",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2027-04-18"
  },
  "financial_terms": {
    "base_rent_initial": 88106.14,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-04-18",
        "increase_value": 2.96,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-04-18",
        "increase_value": 5.71,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3824.54
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 4153.93
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}