<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-HERE-2022-135

This serves as a summary of the commercial lease executed on 2022-11-13 between the Lessor, Santos-Hammond, and Lessee, Reed Group. The subject of this agreement is the Retail property at 20431 Todd Plains Apt. 160, Suite 773, Madisonport, West Virginia 41753, comprising approximately 12,971 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 2023-03-16 and concluding on 2029-03-15. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $8,074.81, payable on a monthly basis. A security deposit of $8,074.81 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.55 $/sf taking effect on 2024-03-15. Additional rents include Real Estate Taxes (Pass-through), Management Fee (Pro-rata share (14%)).

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

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 notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Washington. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-HERE-2022-135",
  "document_date": "2022-11-13",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Santos-Hammond",
      "contact_person": "Holly Thornton"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Reed Group",
      "entity_address": "234 Joseph Harbor Apt. 044\nLake Michelle, VT 90806"
    }
  ],
  "property_details": {
    "property_address": "20431 Todd Plains Apt. 160, Suite 773, Madisonport, West Virginia 41753",
    "square_footage": 12971,
    "property_type": "Retail",
    "unit_identifier": "Suite 773"
  },
  "lease_term": {
    "start_date": "2023-03-16",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2029-03-15"
  },
  "financial_terms": {
    "base_rent_initial": 8074.81,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-03-15",
        "increase_value": 3.55,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-15",
        "increase_value": 4.06,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-03-15",
        "increase_value": 8.69,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-03-15",
        "increase_value": 7.37,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2354.55
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (14%)"
      }
    ],
    "security_deposit_amount": 8074.81
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Washington"
  }
}