<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-MILLION-2023-476

This serves as a summary of the commercial lease executed on 2023-08-08 between the Lessor, Stanton, Cobb and Knight, and Lessee, White-Powell. The subject of this agreement is the Office property at 43252 Ward Village, Suite 885, East Sarahport, New Hampshire 84478, comprising approximately 18,674 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 2023-11-11 and concluding on 2026-11-10. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $50,921.45, payable on a monthly basis. A security deposit of $101,842.90 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.18% taking effect on 2024-11-10. Additional rents include Common Area Utilities (Pass-through), Common Area Utilities (Pro-rata share (15%)), Real Estate Taxes (Pro-rata share (6%)), Common Area Utilities (Pro-rata share (6%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: Pest control within the unit; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No hazardous materials permitted on the premises without prior written consent.

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 Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-MILLION-2023-476",
  "document_date": "2023-08-08",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Stanton, Cobb and Knight",
      "entity_address": "746 Kenneth Village\nEast Jeffreyland, TX 91717",
      "contact_person": "Kristin Clark"
    },
    {
      "party_type": "Lessee",
      "entity_name": "White-Powell"
    }
  ],
  "property_details": {
    "property_address": "43252 Ward Village, Suite 885, East Sarahport, New Hampshire 84478",
    "square_footage": 18674,
    "property_type": "Office",
    "unit_identifier": "Suite 885"
  },
  "lease_term": {
    "start_date": "2023-11-11",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2026-11-10"
  },
  "financial_terms": {
    "base_rent_initial": 50921.45,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-11-10",
        "increase_value": 7.18,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-11-10",
        "increase_value": 6.01,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-11-10",
        "increase_value": 4.99,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-11-10",
        "increase_value": 1.75,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1895.19
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (15%)"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 6713.79
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 8675.88
      }
    ],
    "security_deposit_amount": 101842.9
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}