<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-REPORT-2023-987

This serves as a summary of the commercial lease executed on 2023-07-19 between the Lessor, Williams, Boyd and Thompson, and Lessee, Vargas Inc. The subject of this agreement is the Office property at 52200 Raymond Flat Apt. 144, Suite 299, Gomezfort, New York 24909, comprising approximately 13,079 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 2023-09-06 and concluding on 2029-09-05. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $83,479.91, payable on a monthly basis. A security deposit of $83,479.91 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.84% taking effect on 2024-09-05. Additional rents include Common Area Utilities (Fixed annual contribution), Real Estate Taxes (Pro-rata share (15%)), Operating Expenses (CAM) (Pass-through), Real Estate Taxes (Pro-rata share (8%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal; Parking lot maintenance. The Lessee's duties include: All utility payments for the premises; Interior non-structural maintenance; Janitorial services within leased 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. 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. Any potential disputes are to be resolved via Mediation followed by litigation in the State of South Dakota. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-REPORT-2023-987",
  "document_date": "2023-07-19",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Williams, Boyd and Thompson",
      "entity_address": "6703 Judith Underpass Suite 894\nBryantville, MP 78089",
      "contact_person": "Shawn Morris"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Vargas Inc",
      "entity_address": "37278 Michael Inlet\nRamirezland, VA 55830"
    }
  ],
  "property_details": {
    "property_address": "52200 Raymond Flat Apt. 144, Suite 299, Gomezfort, New York 24909",
    "square_footage": 13079,
    "property_type": "Office",
    "unit_identifier": "Suite 299"
  },
  "lease_term": {
    "start_date": "2023-09-06",
    "term_duration_months": 72,
    "renewal_options": [],
    "end_date": "2029-09-05"
  },
  "financial_terms": {
    "base_rent_initial": 83479.91,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-09-05",
        "increase_value": 1.84,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-09-05",
        "increase_value": 9.59,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-09-05",
        "increase_value": 6.81,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 4741.74
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8834.78
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 5622.04
      }
    ],
    "security_deposit_amount": 83479.91
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "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.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of South Dakota"
  }
}