<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-SONG-2023-446

This serves as a summary of the commercial lease executed on 2023-10-20 between the Lessor, Huff, Anderson and Johnson, and Lessee, Pennington and Sons. The subject of this agreement is the Retail property at 94203 Brandon Manor Suite 576, Suite 1455, West Pamela, Missouri 36459, comprising approximately 16,743 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 2023-12-08. The tenant holds 1 option(s) to renew, with the first being for a 36-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 $62,281.39, payable on a annually basis. A security deposit of $124,562.78 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.8% taking effect on 2024-12-07. Additional rents include Insurance (Fixed annual contribution), Management Fee (Pro-rata share (15%)), Operating Expenses (CAM) (Pro-rata share (8%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal. The Lessee's duties include: Pest control within the unit; Interior non-structural maintenance; All utility payments for the premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM.

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 Melodystad. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SONG-2023-446",
  "document_date": "2023-10-20",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Huff, Anderson and Johnson",
      "entity_address": "583 Jones Extensions Suite 907\nErinfurt, NY 49877"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Pennington and Sons",
      "entity_address": "521 Montgomery Mission\nDaniellehaven, WY 89294"
    }
  ],
  "property_details": {
    "property_address": "94203 Brandon Manor Suite 576, Suite 1455, West Pamela, Missouri 36459",
    "square_footage": 16743,
    "property_type": "Retail",
    "unit_identifier": "Suite 1455"
  },
  "lease_term": {
    "start_date": "2023-12-08",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 62281.39,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-12-07",
        "increase_value": 6.8,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-12-07",
        "increase_value": 5.52,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4615.67
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (15%)"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (8%)"
      }
    ],
    "security_deposit_amount": 124562.78
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in Melodystad"
  }
}