<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-APPEAR-2024-594

This serves as a summary of the commercial lease executed on 2024-07-14 between the Lessor, Gilbert, Riley and Vargas, and Lessee, Knight-Kane. The subject of this agreement is the Office property at 05759 Michelle Plaza Suite 993, Suite 1231, Brownland, New Hampshire 01997, comprising approximately 16,051 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 2024-09-17 and concluding on 2027-09-17. The tenant holds 1 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 Fixed Percentage.

Financial obligations begin with an initial base rent of $4,632.78, payable on a annually basis. A security deposit of $4,632.78 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.48 $/sf taking effect on 2025-09-17. Additional rents include Common Area Utilities (Pass-through), Real Estate Taxes (Fixed annual contribution), Management Fee (Pro-rata share (3%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof. The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical. 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. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-APPEAR-2024-594",
  "document_date": "2024-07-14",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Gilbert, Riley and Vargas",
      "entity_address": "653 Christopher Station Apt. 301\nWest Donna, DC 85226",
      "contact_person": "Kristen Smith"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Knight-Kane",
      "entity_address": "23742 Brandon Valley\nOlivertown, DE 22727"
    }
  ],
  "property_details": {
    "property_address": "05759 Michelle Plaza Suite 993, Suite 1231, Brownland, New Hampshire 01997",
    "square_footage": 16051,
    "property_type": "Office"
  },
  "lease_term": {
    "start_date": "2024-09-17",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2027-09-17"
  },
  "financial_terms": {
    "base_rent_initial": 4632.78,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-09-17",
        "increase_value": 1.48,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-09-17",
        "increase_value": 8.75,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-09-17",
        "increase_value": 9.69,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-09-16",
        "increase_value": 7.57,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8722.04
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4652.77
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 2768.59
      }
    ],
    "security_deposit_amount": 4632.78
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}