<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-HOTEL-2024-580

This serves as a summary of the commercial lease executed on 2024-06-17 between the Lessor, George Inc, and Lessee, Brown-Turner. The subject of this agreement is the Industrial property at 012 Jenkins Islands Apt. 853, Suite 1830, Monicaland, Alaska 90305, comprising approximately 24,533 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 2024-10-06. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $45,312.13, payable on a annually basis. A security deposit of $45,312.13 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.2% taking effect on 2025-10-06. Additional rents include Operating Expenses (CAM) (Pro-rata share (3%)), Insurance (Fixed annual contribution), Common Area Utilities (Pro-rata share (8%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM.

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 notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Pennsylvania. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-HOTEL-2024-580",
  "document_date": "2024-06-17",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "George Inc",
      "entity_address": "38940 Cook Trafficway\nLake Deborahberg, NV 84648",
      "contact_person": "Zachary Stein"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Brown-Turner",
      "entity_address": "665 Amanda Grove Apt. 322\nNew Michael, MI 73129"
    }
  ],
  "property_details": {
    "property_address": "012 Jenkins Islands Apt. 853, Suite 1830, Monicaland, Alaska 90305",
    "square_footage": 24533,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1830"
  },
  "lease_term": {
    "start_date": "2024-10-06",
    "term_duration_months": 72,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 45312.13,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-10-06",
        "increase_value": 0.2,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-10-06",
        "increase_value": 1.28,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-10-06",
        "increase_value": 5.3,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-10-05",
        "increase_value": 2.59,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (3%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6364.67
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 8271.11
      }
    ],
    "security_deposit_amount": 45312.13
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "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 Pennsylvania"
  }
}