<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-PAST-2023-325

This serves as a summary of the commercial lease executed on 2023-06-25 between the Lessor, Miller and Sons, and Lessee, Ellis PLC. The subject of this agreement is the Warehouse property at 770 Sanders Mountains Apt. 459, Suite 2462, Websterton, North Carolina 52933, comprising approximately 19,677 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 2023-11-12 and concluding on 2029-11-11. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $90,042.51, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 1.77 $/sf taking effect on 2024-11-11. Additional rents include Real Estate Taxes (Pro-rata share (14%)), Real Estate Taxes (Fixed annual contribution), Real Estate Taxes (Pass-through), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. Signage must be approved by Lessor.

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 Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-PAST-2023-325",
  "document_date": "2023-06-25",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Miller and Sons",
      "contact_person": "Robert Davis"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ellis PLC",
      "entity_address": "745 Victor Well Apt. 654\nEast Veronicamouth, NC 73982"
    }
  ],
  "property_details": {
    "property_address": "770 Sanders Mountains Apt. 459, Suite 2462, Websterton, North Carolina 52933",
    "square_footage": 19677,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 2462"
  },
  "lease_term": {
    "start_date": "2023-11-12",
    "term_duration_months": 72,
    "renewal_options": [],
    "end_date": "2029-11-11"
  },
  "financial_terms": {
    "base_rent_initial": 90042.51,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-11-11",
        "increase_value": 1.77,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-11-11",
        "increase_value": 4.94,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-11-11",
        "increase_value": 2.28,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 6205.95
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6727.66
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6029.37
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1573.24
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}