<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-THOUGH-2023-972

This serves as a summary of the commercial lease executed on 2023-07-06 between the Lessor, Moreno, Tran and Foley, and Lessee, Johnston-Davis. The subject of this agreement is the Retail property at 10620 Johnson Common Apt. 025, Suite 1086, North Brandon, Georgia 25752, comprising approximately 3,045 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 2023-07-07 and concluding on 2033-07-06. 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $4,610.02, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 9.4 $/sf taking effect on 2024-07-06. Additional rents include Real Estate Taxes (Fixed annual contribution), Real Estate Taxes (Pass-through), Operating Expenses (CAM) (Pass-through), Management Fee (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: All utility payments for the premises; 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. 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 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-THOUGH-2023-972",
  "document_date": "2023-07-06",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Moreno, Tran and Foley",
      "contact_person": "Catherine Hernandez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Johnston-Davis"
    }
  ],
  "property_details": {
    "property_address": "10620 Johnson Common Apt. 025, Suite 1086, North Brandon, Georgia 25752",
    "square_footage": 3045,
    "property_type": "Retail",
    "unit_identifier": "Suite 1086"
  },
  "lease_term": {
    "start_date": "2023-07-07",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2033-07-06"
  },
  "financial_terms": {
    "base_rent_initial": 4610.02,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-07-06",
        "increase_value": 9.4,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-07-06",
        "increase_value": 5.05,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2172.54
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (11%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "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": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}