<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-FIRST-2024-637

This serves as a summary of the commercial lease executed on 2024-05-12 between the Lessor, Chandler Inc, and Lessee, Rogers Inc. The subject of this agreement is the Retail property at 23140 Melvin Views, Suite 1258, Katherinestad, Utah 53872, comprising approximately 15,418 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 2024-09-07 and concluding on 2030-09-07. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $1,148.42, payable on a quarterly basis. A security deposit of $1,148.42 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.76 $/sf taking effect on 2025-09-07. Additional rents include Real Estate Taxes (Pass-through), Management Fee (Pro-rata share (13%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Minor repairs to plumbing and electrical; Janitorial services within leased premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor.

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 Mediation followed by litigation in the State of New Mexico. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-FIRST-2024-637",
  "document_date": "2024-05-12",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Chandler Inc",
      "entity_address": "1247 Tina Corner Suite 323\nEast Andreaberg, NJ 71103"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Rogers Inc",
      "entity_address": "675 Jones Oval\nWest Mark, KS 86312"
    }
  ],
  "property_details": {
    "property_address": "23140 Melvin Views, Suite 1258, Katherinestad, Utah 53872",
    "square_footage": 15418,
    "property_type": "Retail",
    "unit_identifier": "Suite 1258"
  },
  "lease_term": {
    "start_date": "2024-09-07",
    "term_duration_months": 72,
    "renewal_options": [],
    "end_date": "2030-09-07"
  },
  "financial_terms": {
    "base_rent_initial": 1148.42,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-09-07",
        "increase_value": 9.76,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-09-07",
        "increase_value": 2.33,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-09-07",
        "increase_value": 6.32,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-09-06",
        "increase_value": 2.19,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7511.2
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (13%)"
      }
    ],
    "security_deposit_amount": 1148.42
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of New Mexico"
  }
}