<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-AMOUNT-2022-605

This serves as a summary of the commercial lease executed on 2022-08-23 between the Lessor, Gilbert Group, and Lessee, Saunders-Jones. The subject of this agreement is the Retail property at 961 Wilson Place Suite 914, Suite 2076, Port Christopherhaven, Delaware 10778, comprising approximately 6,315 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 2022-12-29. The tenant holds 2 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $87,968.24, payable on a monthly basis. A security deposit of $87,968.24 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.55% taking effect on 2023-12-29. Additional rents include Management Fee (Pass-through), Real Estate Taxes (Pro-rata share (10%)), Insurance (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: All utility payments for the premises; Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. Business operations restricted to 8:00 AM to 10:00 PM.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Lake Kellyborough. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-AMOUNT-2022-605",
  "document_date": "2022-08-23",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Gilbert Group",
      "entity_address": "85793 Melissa Summit\nSouth Michaelton, UT 16359",
      "contact_person": "Janet Joseph"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Saunders-Jones",
      "entity_address": "6137 Russell Mill\nNorth Joseph, LA 44827"
    }
  ],
  "property_details": {
    "property_address": "961 Wilson Place Suite 914, Suite 2076, Port Christopherhaven, Delaware 10778",
    "square_footage": 6315,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2022-12-29",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 87968.24,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2023-12-29",
        "increase_value": 3.55,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-12-28",
        "increase_value": 8.8,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3804.0
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (10%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4422.77
      }
    ],
    "security_deposit_amount": 87968.24
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in Lake Kellyborough"
  }
}