<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-SERVICE-2023-116

This serves as a summary of the commercial lease executed on 2023-12-04 between the Lessor, George-Nunez, and Lessee, Garcia, Clark and Myers. The subject of this agreement is the Industrial property at 8328 April Underpass, Suite 745, Lake Dominic, Vermont 37633, comprising approximately 3,254 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 84 months, commencing on 2024-04-14 and concluding on 2031-04-14. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $35,432.95, payable on a annually basis. A security deposit of $70,865.90 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.86 $/sf taking effect on 2025-04-14. Additional rents include Insurance (Fixed annual contribution), Common Area Utilities (Pro-rata share (12%)), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical; Janitorial services within leased premises; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

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-SERVICE-2023-116",
  "document_date": "2023-12-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "George-Nunez",
      "entity_address": "5771 Megan Ferry\nYoungside, UT 14228"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Garcia, Clark and Myers"
    }
  ],
  "property_details": {
    "property_address": "8328 April Underpass, Suite 745, Lake Dominic, Vermont 37633",
    "square_footage": 3254,
    "property_type": "Industrial",
    "unit_identifier": "Suite 745"
  },
  "lease_term": {
    "start_date": "2024-04-14",
    "term_duration_months": 84,
    "renewal_options": [],
    "end_date": "2031-04-14"
  },
  "financial_terms": {
    "base_rent_initial": 35432.95,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-04-14",
        "increase_value": 8.86,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-04-14",
        "increase_value": 5.94,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-04-14",
        "increase_value": 9.05,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4056.91
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 2982.67
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 70865.9
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "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."
  }
}