<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-AVOID-2024-609

This serves as a summary of the commercial lease executed on 2024-05-27 between the Lessor, Parrish Group, and Lessee, Adams-Ford. The subject of this agreement is the Office property at 242 Jimmy Key, Suite 514, Nathanport, Tennessee 17457, comprising approximately 22,491 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 120 months, commencing on 2024-08-31 and concluding on 2034-08-31. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $19,992.62, payable on a annually basis. A security deposit of $19,992.62 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.93% taking effect on 2025-08-31. Additional rents include Management Fee (Pro-rata share (8%)), Management Fee (Pass-through), Common Area Utilities (Pro-rata share (15%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Signage must be approved by Lessor.

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 present in the agreement. Any potential disputes are to be resolved via Binding arbitration in West Brendaberg. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-AVOID-2024-609",
  "document_date": "2024-05-27",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Parrish Group",
      "entity_address": "147 Carr Mount\nEast Frank, NH 41780",
      "contact_person": "Patricia Cohen"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Adams-Ford",
      "entity_address": "293 Cathy Inlet Apt. 189\nJoshuaville, DC 11480"
    }
  ],
  "property_details": {
    "property_address": "242 Jimmy Key, Suite 514, Nathanport, Tennessee 17457",
    "square_footage": 22491,
    "property_type": "Office",
    "unit_identifier": "Suite 514"
  },
  "lease_term": {
    "start_date": "2024-08-31",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2034-08-31"
  },
  "financial_terms": {
    "base_rent_initial": 19992.62,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-08-31",
        "increase_value": 4.93,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-08-31",
        "increase_value": 6.74,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-08-31",
        "increase_value": 4.14,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-08-30",
        "increase_value": 1.23,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (8%)"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8562.04
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 6374.44
      }
    ],
    "security_deposit_amount": 19992.62
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in West Brendaberg"
  }
}