<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-EXAMPLE-2023-728

This serves as a summary of the commercial lease executed on 2023-01-27 between the Lessor, Carrillo, Bryant and Camacho, and Lessee, Macdonald PLC. The subject of this agreement is the Retail property at 21224 Wright Island, Suite 1872, Hendricksmouth, New Jersey 78924, comprising approximately 24,274 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 2023-03-19. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $8,307.36, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 2.71% taking effect on 2024-03-18. Additional rents include Real Estate Taxes (Pro-rata share (7%)), Management Fee (Pro-rata share (9%)), Operating Expenses (CAM) (Pass-through), Insurance (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical. 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: Permitted only to an affiliate entity with 30 days prior notice. A force majeure clause is present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-EXAMPLE-2023-728",
  "document_date": "2023-01-27",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Carrillo, Bryant and Camacho",
      "entity_address": "97329 Alvarado Tunnel Apt. 651\nPort Marisa, AL 61178"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Macdonald PLC",
      "entity_address": "56444 Carolyn Turnpike Suite 056\nYoungbury, GA 55928"
    }
  ],
  "property_details": {
    "property_address": "21224 Wright Island, Suite 1872, Hendricksmouth, New Jersey 78924",
    "square_footage": 24274,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2023-03-19",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 8307.36,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-03-18",
        "increase_value": 2.71,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-03-18",
        "increase_value": 9.2,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 2519.98
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 7426.75
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4190.88
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4039.85
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "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": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}