<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-PROPERTY-2024-764

This serves as a summary of the commercial lease executed on 2024-02-01 between the Lessor, Mckinney PLC, and Lessee, Stark, Marshall and Medina. The subject of this agreement is the Industrial property at 5120 Jackson Ports, Suite 1372, Blackburgh, Illinois 36336, comprising approximately 23,871 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 36 months, commencing on 2024-04-20 and concluding on 2027-04-20. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $42,894.69, payable on a annually basis. A security deposit of $42,894.69 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.39% taking effect on 2025-04-20. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Common Area Utilities (Pro-rata share (10%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; HVAC system maintenance and replacement; Structural repairs to building exterior and roof. The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit; Interior non-structural maintenance; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. 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-PROPERTY-2024-764",
  "document_date": "2024-02-01",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Mckinney PLC",
      "entity_address": "66247 Austin Forge Suite 728\nGarnerton, UT 85417",
      "contact_person": "Bryan Alexander"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Stark, Marshall and Medina",
      "entity_address": "25800 Darrell Street Suite 388\nSouth Kristen, KS 91789"
    }
  ],
  "property_details": {
    "property_address": "5120 Jackson Ports, Suite 1372, Blackburgh, Illinois 36336",
    "square_footage": 23871,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2024-04-20",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2027-04-20"
  },
  "financial_terms": {
    "base_rent_initial": 42894.69,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-04-20",
        "increase_value": 2.39,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-04-20",
        "increase_value": 1.13,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-04-20",
        "increase_value": 8.65,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8905.71
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (10%)",
        "estimated_annual_cost": 8339.22
      }
    ],
    "security_deposit_amount": 42894.69
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}