<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-SCENE-2022-432

This serves as a summary of the commercial lease executed on 2022-09-30 between the Lessor, Rhodes, Willis and Costa, and Lessee, Burton, Martin and Harris. The subject of this agreement is the Retail property at 1350 Ray Via, Suite 2235, East Carlosburgh, Tennessee 69439, comprising approximately 4,698 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 2022-12-19 and concluding on 2027-12-19. The tenant holds 1 option(s) to renew, with the first being for a 36-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 $10,349.34, payable on a annually basis. A security deposit of $10,349.34 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.32 $/sf taking effect on 2023-12-19. Additional rents include Common Area Utilities (Fixed annual contribution), Real Estate Taxes (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Interior non-structural maintenance; Pest control within the unit; Minor repairs to plumbing and electrical. 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: Permitted only to an affiliate entity with 30 days prior notice. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of South Carolina. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SCENE-2022-432",
  "document_date": "2022-09-30",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Rhodes, Willis and Costa",
      "entity_address": "7663 Catherine Key Apt. 240\nNorth Kevinstad, AR 97393",
      "contact_person": "Holly Proctor"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Burton, Martin and Harris",
      "entity_address": "7436 Susan Turnpike Apt. 592\nMatthewberg, CT 21565"
    }
  ],
  "property_details": {
    "property_address": "1350 Ray Via, Suite 2235, East Carlosburgh, Tennessee 69439",
    "square_footage": 4698,
    "property_type": "Retail",
    "unit_identifier": "Suite 2235"
  },
  "lease_term": {
    "start_date": "2022-12-19",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2027-12-19"
  },
  "financial_terms": {
    "base_rent_initial": 10349.34,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2023-12-19",
        "increase_value": 8.32,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-12-18",
        "increase_value": 6.97,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-12-18",
        "increase_value": 7.25,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-12-18",
        "increase_value": 3.46,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3833.94
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9684.66
      }
    ],
    "security_deposit_amount": 10349.34
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of South Carolina"
  }
}