<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-SISTER-2023-287

This serves as a summary of the commercial lease executed on 2023-08-08 between the Lessor, Wang, Dennis and Vazquez, and Lessee, Patterson-Davis. The subject of this agreement is the Warehouse property at 80064 Sarah Viaduct, Suite 1051, Jenniferview, New York 59017, comprising approximately 9,372 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 2023-08-30. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $5,842.92, payable on a annually basis. A security deposit of $11,685.84 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.24 $/sf taking effect on 2024-08-29. Additional rents include Common Area Utilities (Fixed annual contribution), Insurance (Pro-rata share (9%)), Real Estate Taxes (Fixed annual contribution), Management Fee (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof. The Lessee's duties include: All utility payments for the premises; Minor repairs to plumbing and electrical; Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent. 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 West Virginia. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SISTER-2023-287",
  "document_date": "2023-08-08",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Wang, Dennis and Vazquez",
      "contact_person": "Donald Vasquez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Patterson-Davis",
      "entity_address": "422 Joseph Harbors Apt. 721\nWest Pamela, OK 26638"
    }
  ],
  "property_details": {
    "property_address": "80064 Sarah Viaduct, Suite 1051, Jenniferview, New York 59017",
    "square_footage": 9372,
    "property_type": "Warehouse"
  },
  "lease_term": {
    "start_date": "2023-08-30",
    "term_duration_months": 60,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 5842.92,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-08-29",
        "increase_value": 6.24,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-08-29",
        "increase_value": 9.84,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-08-29",
        "increase_value": 8.67,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 8525.51
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6938.5
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1210.65
      }
    ],
    "security_deposit_amount": 11685.84
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "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 West Virginia"
  }
}