<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-BELIEVE-2024-580

This serves as a summary of the commercial lease executed on 2024-04-23 between the Lessor, Long-Walsh, and Lessee, Rivera Inc. The subject of this agreement is the Industrial property at 359 Anna Extension Apt. 769, Suite 2489, East Carlos, Hawaii 69498, comprising approximately 16,308 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 2024-06-20 and concluding on 2029-06-20. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $6,621.43, payable on a monthly basis. A security deposit of $13,242.86 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.23 $/sf taking effect on 2025-06-20. Additional rents include Common Area Utilities (Fixed annual contribution), Common Area Utilities (Fixed annual contribution), Operating Expenses (CAM) (Pro-rata share (15%)), Management Fee (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: All utility payments for the premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. 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: 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 Lake Lesliestad. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-BELIEVE-2024-580",
  "document_date": "2024-04-23",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Long-Walsh",
      "entity_address": "445 Derrick Meadow Apt. 350\nHeathermouth, VA 31578"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Rivera Inc"
    }
  ],
  "property_details": {
    "property_address": "359 Anna Extension Apt. 769, Suite 2489, East Carlos, Hawaii 69498",
    "square_footage": 16308,
    "property_type": "Industrial",
    "unit_identifier": "Suite 2489"
  },
  "lease_term": {
    "start_date": "2024-06-20",
    "term_duration_months": 60,
    "renewal_options": [],
    "end_date": "2029-06-20"
  },
  "financial_terms": {
    "base_rent_initial": 6621.43,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-06-20",
        "increase_value": 2.23,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-06-20",
        "increase_value": 6.52,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-06-20",
        "increase_value": 2.22,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-06-19",
        "increase_value": 8.22,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3026.82
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (15%)"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2499.24
      }
    ],
    "security_deposit_amount": 13242.86
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "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 Lake Lesliestad"
  }
}