<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-RISE-2023-351

This serves as a summary of the commercial lease executed on 2023-04-09 between the Lessor, Gilbert and Sons, and Lessee, Brown Group. The subject of this agreement is the Industrial property at 52214 Cook Manor Apt. 005, Suite 1040, East Lisa, Virginia 06994, comprising approximately 2,172 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 2023-05-15 and concluding on 2029-05-14. 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $8,330.95, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 7.52% taking effect on 2024-05-14. Additional rents include Common Area Utilities (Fixed annual contribution), Real Estate Taxes (Pro-rata share (11%)), Real Estate Taxes (Pass-through), Real Estate Taxes (Pro-rata share (5%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal; HVAC system maintenance and replacement. 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 structural alterations without Lessor approval. Signage must be approved by Lessor.

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 notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in New Michaelshire. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-RISE-2023-351",
  "document_date": "2023-04-09",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Gilbert and Sons",
      "entity_address": "8435 Tammy Locks Suite 628\nEast Gregory, DC 09491",
      "contact_person": "Christopher Contreras"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Brown Group",
      "entity_address": "04015 Thompson Key Suite 244\nWest Territown, VA 26871"
    }
  ],
  "property_details": {
    "property_address": "52214 Cook Manor Apt. 005, Suite 1040, East Lisa, Virginia 06994",
    "square_footage": 2172,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1040"
  },
  "lease_term": {
    "start_date": "2023-05-15",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2029-05-14"
  },
  "financial_terms": {
    "base_rent_initial": 8330.95,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-05-14",
        "increase_value": 7.52,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-05-14",
        "increase_value": 4.39,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-05-14",
        "increase_value": 4.61,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-05-14",
        "increase_value": 8.8,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8851.46
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 9775.04
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9496.6
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (5%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in New Michaelshire"
  }
}