<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-LITTLE-2024-459

This serves as a summary of the commercial lease executed on 2024-02-13 between the Lessor, Hernandez, Eaton and Clark, and Lessee, Sandoval-Henry. The subject of this agreement is the Industrial property at 9396 Kelly Mountain, Suite 737, Lake Jamieshire, West Virginia 53783, comprising approximately 2,955 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 2024-08-09. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $19,454.79, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 8.22 $/sf taking effect on 2025-08-09. Additional rents include Operating Expenses (CAM) (Pass-through), Operating Expenses (CAM) (Pro-rata share (3%)), Real Estate Taxes (Pass-through), Real Estate Taxes (Pro-rata share (5%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance; Pest control within the unit; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. Business operations restricted to 8:00 AM to 10:00 PM. Signage must be approved by Lessor.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Port Elizabethchester. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-LITTLE-2024-459",
  "document_date": "2024-02-13",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hernandez, Eaton and Clark",
      "contact_person": "Mary Buck"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Sandoval-Henry",
      "entity_address": "88442 Hart Land Apt. 842\nSouth Richardside, CO 14058"
    }
  ],
  "property_details": {
    "property_address": "9396 Kelly Mountain, Suite 737, Lake Jamieshire, West Virginia 53783",
    "square_footage": 2955,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2024-08-09",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 19454.79,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-08-09",
        "increase_value": 8.22,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-08-09",
        "increase_value": 1.17,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-08-09",
        "increase_value": 6.56,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1971.21
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 5978.99
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9309.11
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 2539.92
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in Port Elizabethchester"
  }
}