<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-NEWSPAPER-2022-393

This serves as a summary of the commercial lease executed on 2022-09-14 between the Lessor, Lee and Sons, and Lessee, Collins-Morgan. The subject of this agreement is the Industrial property at 7308 Sanchez Via Apt. 611, Suite 1495, Harringtonburgh, South Dakota 37952, comprising approximately 11,656 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 2022-10-12 and concluding on 2027-10-12. The tenant holds 1 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $3,431.71, payable on a quarterly basis. A security deposit of $6,863.42 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 5.93 $/sf taking effect on 2023-10-12. Additional rents include Insurance (Pro-rata share (14%)), Management Fee (Fixed annual contribution), Common Area Utilities (Fixed annual contribution), Real Estate Taxes (Pro-rata share (8%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; HVAC system maintenance and replacement; Landscaping and snow removal. The Lessee's duties include: Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: 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: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Kentucky. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-NEWSPAPER-2022-393",
  "document_date": "2022-09-14",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Lee and Sons",
      "entity_address": "960 Gonzalez Avenue\nLawrenceview, AS 38391",
      "contact_person": "Brian Avery"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Collins-Morgan",
      "entity_address": "1185 Raymond Stream Suite 538\nNew Danielview, MH 19213"
    }
  ],
  "property_details": {
    "property_address": "7308 Sanchez Via Apt. 611, Suite 1495, Harringtonburgh, South Dakota 37952",
    "square_footage": 11656,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2022-10-12",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2027-10-12"
  },
  "financial_terms": {
    "base_rent_initial": 3431.71,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2023-10-12",
        "increase_value": 5.93,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-10-11",
        "increase_value": 4.85,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-10-11",
        "increase_value": 5.06,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 5645.0
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2453.03
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5369.72
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (8%)"
      }
    ],
    "security_deposit_amount": 6863.42
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Kentucky"
  }
}