<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-PHONE-2023-123

This serves as a summary of the commercial lease executed on 2023-02-01 between the Lessor, Evans, Lambert and Delgado, and Lessee, Browning, King and Villegas. The subject of this agreement is the Warehouse property at 9087 Knapp Flats Suite 488, Suite 791, Chrisshire, Pennsylvania 96317, comprising approximately 22,848 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 2023-05-02 and concluding on 2028-05-01. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $90,335.01, payable on a annually basis. A security deposit of $90,335.01 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.32% taking effect on 2024-05-01. Additional rents include Management Fee (Fixed annual contribution), Management Fee (Pro-rata share (12%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit; Janitorial services within leased premises; 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. No hazardous materials permitted on the premises without prior written consent.

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 present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-PHONE-2023-123",
  "document_date": "2023-02-01",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Evans, Lambert and Delgado",
      "entity_address": "576 Deborah Street\nSouth Ericaborough, PA 07106"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Browning, King and Villegas"
    }
  ],
  "property_details": {
    "property_address": "9087 Knapp Flats Suite 488, Suite 791, Chrisshire, Pennsylvania 96317",
    "square_footage": 22848,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 791"
  },
  "lease_term": {
    "start_date": "2023-05-02",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2028-05-01"
  },
  "financial_terms": {
    "base_rent_initial": 90335.01,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-05-01",
        "increase_value": 6.32,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-05-01",
        "increase_value": 5.2,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-05-01",
        "increase_value": 5.58,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-05-01",
        "increase_value": 7.4,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4872.35
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (12%)"
      }
    ],
    "security_deposit_amount": 90335.01
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Janitorial services within leased premises",
      "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.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}