<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-SING-2023-961

This serves as a summary of the commercial lease executed on 2023-11-08 between the Lessor, Stephens Ltd, and Lessee, Hunt-Bennett. The subject of this agreement is the Warehouse property at 64618 Kim Walk Suite 447, Suite 330, Carolinestad, Wyoming 44547, comprising approximately 11,261 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 2024-03-10 and concluding on 2030-03-10. The tenant holds 2 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $69,466.58, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 8.18 $/sf taking effect on 2025-03-10. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Management Fee (Pass-through), Management Fee (Pro-rata share (10%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal; Structural repairs to building exterior and roof. The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SING-2023-961",
  "document_date": "2023-11-08",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Stephens Ltd",
      "contact_person": "Kayla Trevino"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hunt-Bennett",
      "entity_address": "01961 Michael Orchard\nBensonview, AL 97761"
    }
  ],
  "property_details": {
    "property_address": "64618 Kim Walk Suite 447, Suite 330, Carolinestad, Wyoming 44547",
    "square_footage": 11261,
    "property_type": "Warehouse"
  },
  "lease_term": {
    "start_date": "2024-03-10",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-03-10"
  },
  "financial_terms": {
    "base_rent_initial": 69466.58,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-03-10",
        "increase_value": 8.18,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-03-10",
        "increase_value": 9.48,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5643.7
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7584.42
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (10%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}