<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-MR-2023-411

This serves as a summary of the commercial lease executed on 2023-07-13 between the Lessor, Yates-Edwards, and Lessee, Jackson-Ross. The subject of this agreement is the Warehouse property at 768 Avila Ville Suite 390, Suite 1759, Roseland, Michigan 84899, comprising approximately 10,655 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 2023-09-02. The tenant holds 1 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 $8,331.89, payable on a quarterly basis. A security deposit of $16,663.78 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.57 $/sf taking effect on 2024-09-01. Additional rents include Management Fee (Pro-rata share (5%)), Real Estate Taxes (Pro-rata share (14%)), Insurance (Pro-rata share (4%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance; 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: 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: 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 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-MR-2023-411",
  "document_date": "2023-07-13",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Yates-Edwards",
      "entity_address": "623 Jasmine Highway Apt. 909\nToddburgh, DE 34562",
      "contact_person": "Amanda Solomon"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Jackson-Ross"
    }
  ],
  "property_details": {
    "property_address": "768 Avila Ville Suite 390, Suite 1759, Roseland, Michigan 84899",
    "square_footage": 10655,
    "property_type": "Warehouse"
  },
  "lease_term": {
    "start_date": "2023-09-02",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 8331.89,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-09-01",
        "increase_value": 9.57,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-09-01",
        "increase_value": 9.43,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 1283.52
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 5255.22
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (4%)"
      }
    ],
    "security_deposit_amount": 16663.78
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "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": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}