<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-LATER-2022-389

This serves as a summary of the commercial lease executed on 2022-12-30 between the Lessor, Young-Morales, and Lessee, Knox, Jones and Sullivan. The subject of this agreement is the Industrial property at 3620 Madison Burgs Suite 809, Suite 1955, South Adrienne, Montana 46213, comprising approximately 9,307 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 2023-04-23 and concluding on 2030-04-22. The tenant holds 2 option(s) to renew, with the first being for a 36-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 $6,446.87, payable on a monthly basis. A security deposit of $6,446.87 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.43 $/sf taking effect on 2024-04-22. Additional rents include Insurance (Pass-through), Operating Expenses (CAM) (Pro-rata share (14%)), Insurance (Fixed annual contribution), Real Estate Taxes (Pro-rata share (12%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); HVAC system maintenance and replacement; Landscaping and snow removal. The Lessee's duties include: All utility payments for the premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. 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 notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Idaho. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-LATER-2022-389",
  "document_date": "2022-12-30",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Young-Morales",
      "entity_address": "7087 Alison Drive Apt. 272\nNorth Jeremy, MO 64915",
      "contact_person": "Darryl Horton"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Knox, Jones and Sullivan",
      "entity_address": "7143 Cooper Fields Apt. 881\nSouth Margaretmouth, OR 25268"
    }
  ],
  "property_details": {
    "property_address": "3620 Madison Burgs Suite 809, Suite 1955, South Adrienne, Montana 46213",
    "square_footage": 9307,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2023-04-23",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-04-22"
  },
  "financial_terms": {
    "base_rent_initial": 6446.87,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-04-22",
        "increase_value": 7.43,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-04-22",
        "increase_value": 5.63,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-04-22",
        "increase_value": 9.56,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-04-22",
        "increase_value": 5.77,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2423.93
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 3396.45
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7195.49
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (12%)"
      }
    ],
    "security_deposit_amount": 6446.87
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Idaho"
  }
}