<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-CLEARLY-2023-245

This serves as a summary of the commercial lease executed on 2023-11-04 between the Lessor, Welch, Hamilton and Robertson, and Lessee, Stokes LLC. The subject of this agreement is the Retail property at 58988 Jackson Stream Suite 598, Suite 1195, Stephaniechester, Kansas 92550, comprising approximately 8,045 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 2023-12-14 and concluding on 2029-12-13. 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 $98,217.98, payable on a quarterly basis. A security deposit of $98,217.98 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.05 $/sf taking effect on 2024-12-13. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Management Fee (Pro-rata share (7%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. 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: 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-CLEARLY-2023-245",
  "document_date": "2023-11-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Welch, Hamilton and Robertson",
      "entity_address": "663 Brandy Green\nNorth Scottside, NY 17988",
      "contact_person": "Curtis Gray"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Stokes LLC",
      "entity_address": "645 Jodi Square\nLake Kathy, WA 72745"
    }
  ],
  "property_details": {
    "property_address": "58988 Jackson Stream Suite 598, Suite 1195, Stephaniechester, Kansas 92550",
    "square_footage": 8045,
    "property_type": "Retail",
    "unit_identifier": "Suite 1195"
  },
  "lease_term": {
    "start_date": "2023-12-14",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2029-12-13"
  },
  "financial_terms": {
    "base_rent_initial": 98217.98,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-12-13",
        "increase_value": 8.05,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-12-13",
        "increase_value": 8.37,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9776.24
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 6152.7
      }
    ],
    "security_deposit_amount": 98217.98
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "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": "Strictly prohibited under all circumstances."
  }
}