<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-TAX-2023-384

This serves as a summary of the commercial lease executed on 2023-11-07 between the Lessor, Tyler, Watkins and Webster, and Lessee, Mccormick, James and Miller. The subject of this agreement is the Retail property at 2530 Devin Loaf, Suite 1346, Benjaminport, Colorado 39549, comprising approximately 3,671 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 72 months, commencing on 2024-03-16 and concluding on 2030-03-16. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $7,489.21, payable on a quarterly basis. A security deposit of $14,978.42 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.8% taking effect on 2025-03-16. Additional rents include Real Estate Taxes (Pass-through), Operating Expenses (CAM) (Pass-through), Insurance (Pass-through), Real Estate Taxes (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Common area maintenance (CAM); Parking lot maintenance. The Lessee's duties include: Minor repairs to plumbing and electrical; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-TAX-2023-384",
  "document_date": "2023-11-07",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Tyler, Watkins and Webster",
      "entity_address": "437 Jill Ferry\nWest Haleyborough, NJ 84450",
      "contact_person": "Harry Valencia"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Mccormick, James and Miller",
      "entity_address": "3644 Walters Pines Suite 866\nAustinfort, AS 79838"
    }
  ],
  "property_details": {
    "property_address": "2530 Devin Loaf, Suite 1346, Benjaminport, Colorado 39549",
    "square_footage": 3671,
    "property_type": "Retail",
    "unit_identifier": "Suite 1346"
  },
  "lease_term": {
    "start_date": "2024-03-16",
    "term_duration_months": 72,
    "renewal_options": [],
    "end_date": "2030-03-16"
  },
  "financial_terms": {
    "base_rent_initial": 7489.21,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-16",
        "increase_value": 6.8,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-03-16",
        "increase_value": 9.28,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-03-16",
        "increase_value": 7.2,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2028-03-15",
        "increase_value": 4.69,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2458.85
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3984.42
      }
    ],
    "security_deposit_amount": 14978.42
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Common area maintenance (CAM)",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}