<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-FORMER-2023-266

This serves as a summary of the commercial lease executed on 2023-11-30 between the Lessor, Salas and Sons, and Lessee, Scott Group. The subject of this agreement is the Industrial property at 5943 Seth Fork Apt. 198, Suite 1452, Kevinfort, Nebraska 08860, comprising approximately 10,673 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 2024-05-13. The tenant holds 2 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $22,770.30, payable on a quarterly basis. A security deposit of $22,770.30 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.01 $/sf taking effect on 2025-05-13. Additional rents include Insurance (Fixed annual contribution), Management Fee (Pro-rata share (10%)), Insurance (Fixed annual contribution), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance; All utility payments for the premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent.

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 Mediation followed by litigation in the State of North Carolina. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-FORMER-2023-266",
  "document_date": "2023-11-30",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Salas and Sons",
      "entity_address": "PSC 3579, Box 2735\nAPO AE 45550",
      "contact_person": "Nicholas Jacobs"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Scott Group"
    }
  ],
  "property_details": {
    "property_address": "5943 Seth Fork Apt. 198, Suite 1452, Kevinfort, Nebraska 08860",
    "square_footage": 10673,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2024-05-13",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 22770.3,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-05-13",
        "increase_value": 8.01,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-05-13",
        "increase_value": 0.62,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7542.28
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (10%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5552.27
      }
    ],
    "security_deposit_amount": 22770.3
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of North Carolina"
  }
}