<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-BROTHER-2022-289

This serves as a summary of the commercial lease executed on 2022-11-04 between the Lessor, Escobar, Lewis and Jordan, and Lessee, Benjamin, Williams and Mullins. The subject of this agreement is the Warehouse property at 52919 Katelyn Brooks, Suite 755, New Kimberly, Massachusetts 96912, comprising approximately 20,911 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 2022-12-27. The tenant holds 2 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $11,604.98, payable on a quarterly basis. A security deposit of $23,209.96 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 5.15% taking effect on 2023-12-27. Additional rents include Insurance (Pro-rata share (5%)), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. 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, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is present 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-BROTHER-2022-289",
  "document_date": "2022-11-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Escobar, Lewis and Jordan",
      "contact_person": "Marissa Rice"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Benjamin, Williams and Mullins"
    }
  ],
  "property_details": {
    "property_address": "52919 Katelyn Brooks, Suite 755, New Kimberly, Massachusetts 96912",
    "square_footage": 20911,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 755"
  },
  "lease_term": {
    "start_date": "2022-12-27",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 11604.98,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2023-12-27",
        "increase_value": 5.15,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-12-26",
        "increase_value": 8.66,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 9545.15
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8710.05
      }
    ],
    "security_deposit_amount": 23209.96
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}