<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-PRESIDENT-2024-783

This serves as a summary of the commercial lease executed on 2024-03-12 between the Lessor, Brock-Howard, and Lessee, Torres-Ibarra. The subject of this agreement is the Office property at 849 Mathews Greens Apt. 537, Suite 706, Port Williamstad, New Jersey 30755, comprising approximately 15,546 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 2024-06-14 and concluding on 2027-06-14. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $65,979.85, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 9.43 $/sf taking effect on 2025-06-14. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Common Area Utilities (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement. The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. No hazardous materials permitted on the premises without prior written consent.

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 present 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-PRESIDENT-2024-783",
  "document_date": "2024-03-12",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Brock-Howard"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Torres-Ibarra",
      "entity_address": "609 Cunningham Camp\nSouth Barbara, VI 77634"
    }
  ],
  "property_details": {
    "property_address": "849 Mathews Greens Apt. 537, Suite 706, Port Williamstad, New Jersey 30755",
    "square_footage": 15546,
    "property_type": "Office",
    "unit_identifier": "Suite 706"
  },
  "lease_term": {
    "start_date": "2024-06-14",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2027-06-14"
  },
  "financial_terms": {
    "base_rent_initial": 65979.85,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-06-14",
        "increase_value": 9.43,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-06-14",
        "increase_value": 5.78,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5183.57
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "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."
  }
}