<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-DIRECTOR-2024-819

This serves as a summary of the commercial lease executed on 2024-05-06 between the Lessor, Gonzalez-Aguirre, and Lessee, Kim-Davis. The subject of this agreement is the Retail property at 57597 Solomon Rapids, Suite 462, Watkinshaven, West Virginia 34656, comprising approximately 23,320 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 2024-08-30 and concluding on 2027-08-30. 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 Market Rate.

Financial obligations begin with an initial base rent of $60,556.83, payable on a annually basis. A security deposit of $121,113.66 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.18% taking effect on 2025-08-30. Additional rents include Insurance (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; Structural repairs to building exterior and roof. The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical; Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Washington. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-DIRECTOR-2024-819",
  "document_date": "2024-05-06",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Gonzalez-Aguirre"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Kim-Davis",
      "entity_address": "65767 Mclaughlin Ports\nEast Daniel, WY 62809"
    }
  ],
  "property_details": {
    "property_address": "57597 Solomon Rapids, Suite 462, Watkinshaven, West Virginia 34656",
    "square_footage": 23320,
    "property_type": "Retail",
    "unit_identifier": "Suite 462"
  },
  "lease_term": {
    "start_date": "2024-08-30",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2027-08-30"
  },
  "financial_terms": {
    "base_rent_initial": 60556.83,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-08-30",
        "increase_value": 8.18,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-08-30",
        "increase_value": 5.98,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-08-30",
        "increase_value": 1.65,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2798.38
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9104.16
      }
    ],
    "security_deposit_amount": 121113.66
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Washington"
  }
}