<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-RICH-2023-839

This serves as a summary of the commercial lease executed on 2023-05-04 between the Lessor, Swanson Group, and Lessee, Smith, Smith and Smith. The subject of this agreement is the Industrial property at 7578 Debra Roads, Suite 624, Williamsmouth, Virginia 79643, comprising approximately 17,560 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 60 months, commencing on 2023-10-09 and concluding on 2028-10-08. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $4,834.56, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 5.32 $/sf taking effect on 2024-10-08. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Operating Expenses (CAM) (Fixed annual contribution), Insurance (Fixed annual contribution), Common Area Utilities (Pro-rata share (4%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical; Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. Signage must be approved by Lessor. No structural alterations without Lessor approval.

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 Vermont. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-RICH-2023-839",
  "document_date": "2023-05-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Swanson Group",
      "entity_address": "1863 Bryan Square Apt. 260\nPerezbury, NV 59311"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Smith, Smith and Smith"
    }
  ],
  "property_details": {
    "property_address": "7578 Debra Roads, Suite 624, Williamsmouth, Virginia 79643",
    "square_footage": 17560,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2023-10-09",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2028-10-08"
  },
  "financial_terms": {
    "base_rent_initial": 4834.56,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-10-08",
        "increase_value": 5.32,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-10-08",
        "increase_value": 1.07,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-10-08",
        "increase_value": 7.69,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7461.42
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (4%)",
        "estimated_annual_cost": 8918.81
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval."
  ],
  "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 Vermont"
  }
}