<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-THING-2024-521

This serves as a summary of the commercial lease executed on 2024-02-10 between the Lessor, Thomas Inc, and Lessee, Smith, Salazar and Ross. The subject of this agreement is the Warehouse property at 5031 Veronica Route Apt. 901, Suite 2125, South Christineburgh, New York 03583, comprising approximately 19,663 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 2024-07-12 and concluding on 2030-07-12. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $9,992.51, payable on a monthly basis. A security deposit of $19,985.02 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.38 $/sf taking effect on 2025-07-12. Additional rents include Real Estate Taxes (Pro-rata share (14%)), Operating Expenses (CAM) (Pro-rata share (12%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance. 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.

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. Any potential disputes are to be resolved via Binding arbitration in North Scott. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-THING-2024-521",
  "document_date": "2024-02-10",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Thomas Inc",
      "entity_address": "228 Mary Viaduct\nWallacehaven, AK 28448",
      "contact_person": "Renee Proctor"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Smith, Salazar and Ross",
      "entity_address": "846 Smith Shore Suite 300\nWatsonside, ND 13126"
    }
  ],
  "property_details": {
    "property_address": "5031 Veronica Route Apt. 901, Suite 2125, South Christineburgh, New York 03583",
    "square_footage": 19663,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 2125"
  },
  "lease_term": {
    "start_date": "2024-07-12",
    "term_duration_months": 72,
    "renewal_options": [],
    "end_date": "2030-07-12"
  },
  "financial_terms": {
    "base_rent_initial": 9992.51,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-12",
        "increase_value": 3.38,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-07-12",
        "increase_value": 5.39,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-07-12",
        "increase_value": 7.6,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 9842.88
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (12%)"
      }
    ],
    "security_deposit_amount": 19985.02
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in North Scott"
  }
}