<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-APPROACH-2023-449

This serves as a summary of the commercial lease executed on 2023-10-26 between the Lessor, Clark PLC, and Lessee, Mason-Lawson. The subject of this agreement is the Warehouse property at 531 Hill Hills Suite 207, Suite 2103, Lisabury, Virginia 59448, comprising approximately 16,174 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 2023-12-30 and concluding on 2029-12-29. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $9,269.49, payable on a quarterly basis. A security deposit of $9,269.49 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.51 $/sf taking effect on 2024-12-29. Additional rents include Real Estate Taxes (Fixed annual contribution), Real Estate Taxes (Pro-rata share (15%)), Common Area Utilities (Pro-rata share (4%)).

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; Minor repairs to plumbing and electrical; Janitorial services within leased premises; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Binding arbitration in Port Christopherfort. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-APPROACH-2023-449",
  "document_date": "2023-10-26",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Clark PLC",
      "entity_address": "781 Nathan Summit Suite 109\nZhangmouth, MH 26728",
      "contact_person": "Clinton Salas"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Mason-Lawson",
      "entity_address": "971 Lee Orchard Suite 039\nEast Saraton, DE 35242"
    }
  ],
  "property_details": {
    "property_address": "531 Hill Hills Suite 207, Suite 2103, Lisabury, Virginia 59448",
    "square_footage": 16174,
    "property_type": "Warehouse"
  },
  "lease_term": {
    "start_date": "2023-12-30",
    "term_duration_months": 72,
    "renewal_options": [],
    "end_date": "2029-12-29"
  },
  "financial_terms": {
    "base_rent_initial": 9269.49,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-12-29",
        "increase_value": 2.51,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-12-29",
        "increase_value": 2.09,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-12-29",
        "increase_value": 4.13,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 2530.72
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (4%)"
      }
    ],
    "security_deposit_amount": 9269.49
  },
  "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",
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in Port Christopherfort"
  }
}