<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-GROW-2023-708

This serves as a summary of the commercial lease executed on 2023-04-21 between the Lessor, Padilla Group, and Lessee, Benson-Miranda. The subject of this agreement is the Retail property at 460 Hughes Corners Apt. 839, Suite 2127, South Christian, California 00843, comprising approximately 12,573 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 2023-08-08 and concluding on 2033-08-07. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $1,153.24, payable on a annually basis. A security deposit of $2,306.48 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.17% taking effect on 2024-08-07. Additional rents include Management Fee (Fixed annual contribution), Common Area Utilities (Pass-through), Management Fee (Pro-rata share (12%)), Real Estate Taxes (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Common area maintenance (CAM); Structural repairs to building exterior and roof. The Lessee's duties include: Pest control within the unit; Interior non-structural maintenance; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Kansas. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-GROW-2023-708",
  "document_date": "2023-04-21",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Padilla Group",
      "entity_address": "4101 Christine Prairie\nNew James, FM 45290",
      "contact_person": "Karen Floyd"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Benson-Miranda",
      "entity_address": "2876 Rich Light Apt. 981\nWest William, VI 99475"
    }
  ],
  "property_details": {
    "property_address": "460 Hughes Corners Apt. 839, Suite 2127, South Christian, California 00843",
    "square_footage": 12573,
    "property_type": "Retail",
    "unit_identifier": "Suite 2127"
  },
  "lease_term": {
    "start_date": "2023-08-08",
    "term_duration_months": 120,
    "renewal_options": [],
    "end_date": "2033-08-07"
  },
  "financial_terms": {
    "base_rent_initial": 1153.24,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-08-07",
        "increase_value": 8.17,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-07",
        "increase_value": 6.37,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-08-07",
        "increase_value": 4.42,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-08-07",
        "increase_value": 1.44,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7828.29
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7417.34
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 9908.06
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1990.26
      }
    ],
    "security_deposit_amount": 2306.48
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Kansas"
  }
}