<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-LATER-2024-674

This serves as a summary of the commercial lease executed on 2024-04-21 between the Lessor, Johnson, Reed and Estes, and Lessee, Wiley-Smith. The subject of this agreement is the Retail property at 10119 Haley Common Apt. 956, Suite 1547, Lake Phillip, North Dakota 67296, comprising approximately 15,475 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 60 months, commencing on 2024-06-18. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $94,129.59, payable on a annually basis. A security deposit of $188,259.18 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.87% taking effect on 2025-06-18. Additional rents include Insurance (Pro-rata share (9%)), Common Area Utilities (Fixed annual contribution), Real Estate Taxes (Pro-rata share (14%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Pest control within the unit; Janitorial services within leased premises; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Business operations restricted to 8:00 AM to 10:00 PM.

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 Binding arbitration in Wrightfort. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-LATER-2024-674",
  "document_date": "2024-04-21",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Johnson, Reed and Estes",
      "entity_address": "686 Griffin Centers\nPort Tristan, CA 63160"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Wiley-Smith",
      "entity_address": "USNV Thompson\nFPO AP 04249"
    }
  ],
  "property_details": {
    "property_address": "10119 Haley Common Apt. 956, Suite 1547, Lake Phillip, North Dakota 67296",
    "square_footage": 15475,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2024-06-18",
    "term_duration_months": 60,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 94129.59,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-06-18",
        "increase_value": 0.87,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-06-18",
        "increase_value": 9.31,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 6778.28
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8930.89
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 5281.31
      }
    ],
    "security_deposit_amount": 188259.18
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in Wrightfort"
  }
}