<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-FOCUS-2024-742

This serves as a summary of the commercial lease executed on 2024-01-28 between the Lessor, Chang Inc, and Lessee, Reynolds, Finley and Brooks. The subject of this agreement is the Industrial property at 38262 Geoffrey Village Apt. 877, Suite 1285, Port Carlosburgh, Alaska 03106, comprising approximately 8,234 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 36 months, commencing on 2024-04-05 and concluding on 2027-04-05. The tenant holds 2 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 $42,583.52, payable on a quarterly basis. A security deposit of $42,583.52 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.49 $/sf taking effect on 2025-04-05. Additional rents include Common Area Utilities (Pass-through), Insurance (Fixed annual contribution), Management Fee (Pro-rata share (5%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof. The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises; Pest control within the unit; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in New Paula. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-FOCUS-2024-742",
  "document_date": "2024-01-28",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Chang Inc",
      "entity_address": "PSC 3342, Box 5135\nAPO AA 83538",
      "contact_person": "Lisa Massey"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Reynolds, Finley and Brooks",
      "entity_address": "239 Kaitlin Lakes\nRobertshire, MT 14431"
    }
  ],
  "property_details": {
    "property_address": "38262 Geoffrey Village Apt. 877, Suite 1285, Port Carlosburgh, Alaska 03106",
    "square_footage": 8234,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1285"
  },
  "lease_term": {
    "start_date": "2024-04-05",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2027-04-05"
  },
  "financial_terms": {
    "base_rent_initial": 42583.52,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-04-05",
        "increase_value": 8.49,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-04-05",
        "increase_value": 4.53,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1340.1
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 6781.78
      }
    ],
    "security_deposit_amount": 42583.52
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in New Paula"
  }
}