<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-SHOULDER-2023-581

This serves as a summary of the commercial lease executed on 2023-01-06 between the Lessor, Noble, Cummings and Moore, and Lessee, Vargas and Sons. The subject of this agreement is the Warehouse property at 105 Hill Grove Apt. 620, Suite 653, Brittanybury, Alaska 74214, comprising approximately 24,390 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 2023-06-29 and concluding on 2028-06-28. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $3,778.43, payable on a quarterly basis. A security deposit of $3,778.43 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.57 $/sf taking effect on 2024-06-28. Additional rents include Management Fee (Pass-through), Insurance (Pro-rata share (13%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. Premises to be used solely for general office purposes. No structural alterations without Lessor approval.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. 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 Montana. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SHOULDER-2023-581",
  "document_date": "2023-01-06",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Noble, Cummings and Moore",
      "entity_address": "01168 White Station Suite 764\nRobertschester, ME 05501",
      "contact_person": "Tony Anderson"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Vargas and Sons",
      "entity_address": "Unit 0242 Box 2233\nDPO AP 41479"
    }
  ],
  "property_details": {
    "property_address": "105 Hill Grove Apt. 620, Suite 653, Brittanybury, Alaska 74214",
    "square_footage": 24390,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 653"
  },
  "lease_term": {
    "start_date": "2023-06-29",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2028-06-28"
  },
  "financial_terms": {
    "base_rent_initial": 3778.43,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-06-28",
        "increase_value": 1.57,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-06-28",
        "increase_value": 8.81,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-06-28",
        "increase_value": 4.84,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-06-28",
        "increase_value": 5.92,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6547.35
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 9951.15
      }
    ],
    "security_deposit_amount": 3778.43
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Montana"
  }
}