<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-ALREADY-2024-584

This serves as a summary of the commercial lease executed on 2024-07-14 between the Lessor, Wyatt-Lopez, and Lessee, Ferguson PLC. The subject of this agreement is the Industrial property at 9524 Graham Squares Apt. 097, Suite 2383, Lake Davidmouth, New Jersey 27086, comprising approximately 7,072 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 84 months, commencing on 2024-12-26. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $64,386.18, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 7.45% taking effect on 2025-12-26. Additional rents include Insurance (Pro-rata share (14%)), Real Estate Taxes (Pro-rata share (9%)), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof. The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes. No structural alterations without Lessor approval.

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 Mediation followed by litigation in the State of New Hampshire. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ALREADY-2024-584",
  "document_date": "2024-07-14",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Wyatt-Lopez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ferguson PLC",
      "entity_address": "593 Chad Neck\nNorth Gary, WV 09562"
    }
  ],
  "property_details": {
    "property_address": "9524 Graham Squares Apt. 097, Suite 2383, Lake Davidmouth, New Jersey 27086",
    "square_footage": 7072,
    "property_type": "Industrial",
    "unit_identifier": "Suite 2383"
  },
  "lease_term": {
    "start_date": "2024-12-26",
    "term_duration_months": 84,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 64386.18,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-12-26",
        "increase_value": 7.45,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-12-26",
        "increase_value": 8.97,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-12-26",
        "increase_value": 2.24,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 4372.23
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 5564.93
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1855.93
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval."
  ],
  "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": "Mediation followed by litigation in the State of New Hampshire"
  }
}