<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-NEED-2024-171

This serves as a summary of the commercial lease executed on 2024-03-17 between the Lessor, Blackwell, Anderson and Stanton, and Lessee, Brown, Gallagher and Thomas. The subject of this agreement is the Retail property at 173 Michael Point, Suite 2018, Mariaside, Wisconsin 43597, comprising approximately 8,929 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 120 months, commencing on 2024-05-28 and concluding on 2034-05-28. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $2,407.04, payable on a quarterly basis. A security deposit of $2,407.04 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.41 $/sf taking effect on 2025-05-28. Additional rents include Operating Expenses (CAM) (Pro-rata share (14%)), Real Estate Taxes (Fixed annual contribution), Management Fee (Fixed annual contribution), Operating Expenses (CAM) (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof. The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical. 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. No hazardous materials permitted on the premises without prior written consent.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-NEED-2024-171",
  "document_date": "2024-03-17",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Blackwell, Anderson and Stanton",
      "entity_address": "70593 Knight Ridge Apt. 072\nSheltonshire, VA 36603"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Brown, Gallagher and Thomas"
    }
  ],
  "property_details": {
    "property_address": "173 Michael Point, Suite 2018, Mariaside, Wisconsin 43597",
    "square_footage": 8929,
    "property_type": "Retail",
    "unit_identifier": "Suite 2018"
  },
  "lease_term": {
    "start_date": "2024-05-28",
    "term_duration_months": 120,
    "renewal_options": [],
    "end_date": "2034-05-28"
  },
  "financial_terms": {
    "base_rent_initial": 2407.04,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-05-28",
        "increase_value": 1.41,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-05-28",
        "increase_value": 7.99,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-05-28",
        "increase_value": 5.83,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-05-27",
        "increase_value": 6.67,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 4804.45
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6587.14
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4271.07
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1072.87
      }
    ],
    "security_deposit_amount": 2407.04
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}