<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-MIDDLE-2024-305

This serves as a summary of the commercial lease executed on 2024-05-29 between the Lessor, Clark-Clark, and Lessee, Morris Inc. The subject of this agreement is the Industrial property at 8487 Bean Meadow, Suite 194, Jasonhaven, Indiana 71950, comprising approximately 4,939 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 2024-06-01. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $14,629.69, payable on a quarterly basis. A security deposit of $29,259.38 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.92 $/sf taking effect on 2025-06-01. Additional rents include Real Estate Taxes (Fixed annual contribution), Insurance (Pass-through), Real Estate Taxes (Pro-rata share (13%)), Insurance (Pro-rata share (6%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: All utility payments for the premises; Pest control within the unit; Minor repairs to plumbing and electrical. 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: Strictly prohibited under all circumstances. 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 Kentucky. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-MIDDLE-2024-305",
  "document_date": "2024-05-29",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Clark-Clark",
      "contact_person": "Barry Mcdonald"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Morris Inc",
      "entity_address": "011 Rogers Turnpike Suite 429\nWest John, MP 89566"
    }
  ],
  "property_details": {
    "property_address": "8487 Bean Meadow, Suite 194, Jasonhaven, Indiana 71950",
    "square_footage": 4939,
    "property_type": "Industrial",
    "unit_identifier": "Suite 194"
  },
  "lease_term": {
    "start_date": "2024-06-01",
    "term_duration_months": 36,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 14629.69,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-06-01",
        "increase_value": 8.92,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-06-01",
        "increase_value": 5.02,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1433.19
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7978.66
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 3356.95
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 4395.87
      }
    ],
    "security_deposit_amount": 29259.38
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "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": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Kentucky"
  }
}