<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-MIGHT-2024-547

This serves as a summary of the commercial lease executed on 2024-05-02 between the Lessor, Hurley-Wheeler, and Lessee, Ponce, Steele and Davidson. The subject of this agreement is the Warehouse property at 21994 Jerry Mission, Suite 2375, Melissaland, Delaware 22648, comprising approximately 4,745 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 2024-09-25 and concluding on 2027-09-25. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $7,100.74, payable on a annually basis. A security deposit of $7,100.74 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.48% taking effect on 2025-09-25. Additional rents include Real Estate Taxes (Fixed annual contribution), Operating Expenses (CAM) (Pro-rata share (3%)), Common Area Utilities (Pass-through), Real Estate Taxes (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Premises to be used solely for general office purposes.

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. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Oregon. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-MIGHT-2024-547",
  "document_date": "2024-05-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hurley-Wheeler",
      "entity_address": "9476 Horn Bypass\nPaulbury, NY 09715",
      "contact_person": "John Kennedy"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ponce, Steele and Davidson",
      "entity_address": "581 Paige Walk\nEast Cheryltown, CA 21510"
    }
  ],
  "property_details": {
    "property_address": "21994 Jerry Mission, Suite 2375, Melissaland, Delaware 22648",
    "square_footage": 4745,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 2375"
  },
  "lease_term": {
    "start_date": "2024-09-25",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2027-09-25"
  },
  "financial_terms": {
    "base_rent_initial": 7100.74,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-09-25",
        "increase_value": 9.48,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-09-25",
        "increase_value": 1.5,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-09-25",
        "increase_value": 2.73,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2028-09-24",
        "increase_value": 4.52,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2489.53
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (3%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9064.75
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3151.49
      }
    ],
    "security_deposit_amount": 7100.74
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Oregon"
  }
}