<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-CAMERA-2023-857

This serves as a summary of the commercial lease executed on 2023-08-21 between the Lessor, Collier, Galvan and Gregory, and Lessee, Baker, Barnett and Barton. The subject of this agreement is the Industrial property at 52365 Lisa Meadow Suite 397, Suite 1747, Reynoldshaven, Michigan 07530, comprising approximately 5,194 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 2023-11-10. The tenant holds 2 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 Market Rate.

Financial obligations begin with an initial base rent of $8,456.03, payable on a annually basis. A security deposit of $8,456.03 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.15 $/sf taking effect on 2024-11-09. Additional rents include Insurance (Pro-rata share (13%)), Common Area Utilities (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: All utility payments for the premises; Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. No structural alterations without Lessor approval.

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 Binding arbitration in Fordmouth. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-CAMERA-2023-857",
  "document_date": "2023-08-21",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Collier, Galvan and Gregory",
      "entity_address": "2724 William Hollow Apt. 676\nEast Rebeccamouth, AZ 93781",
      "contact_person": "William Phillips"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Baker, Barnett and Barton"
    }
  ],
  "property_details": {
    "property_address": "52365 Lisa Meadow Suite 397, Suite 1747, Reynoldshaven, Michigan 07530",
    "square_footage": 5194,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1747"
  },
  "lease_term": {
    "start_date": "2023-11-10",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 8456.03,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-11-09",
        "increase_value": 8.15,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-11-09",
        "increase_value": 8.95,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-11-09",
        "increase_value": 3.43,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-11-09",
        "increase_value": 7.27,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 2022.42
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7145.79
      }
    ],
    "security_deposit_amount": 8456.03
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in Fordmouth"
  }
}