<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-ALTHOUGH-2023-667

This serves as a summary of the commercial lease executed on 2023-05-10 between the Lessor, Clements, Mason and Wilkerson, and Lessee, Padilla, James and Morrow. The subject of this agreement is the Industrial property at 613 Hicks Center, Suite 1761, South Amandachester, Louisiana 66299, comprising approximately 17,384 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 2023-06-02 and concluding on 2030-06-01. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $8,975.06, payable on a annually basis. A security deposit of $8,975.06 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.32 $/sf taking effect on 2024-06-01. Additional rents include Management Fee (Pass-through), Common Area Utilities (Pro-rata share (12%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; HVAC system maintenance and replacement; Structural repairs to building exterior and roof. The Lessee's duties include: Pest control within the unit; Interior non-structural maintenance; Minor repairs to plumbing and electrical. 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.

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 present in the agreement. Any potential disputes are to be resolved via Binding arbitration in Nicoleborough. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ALTHOUGH-2023-667",
  "document_date": "2023-05-10",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Clements, Mason and Wilkerson",
      "entity_address": "8981 Jacob Route Apt. 817\nPerezview, ND 40447"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Padilla, James and Morrow",
      "entity_address": "5718 Mario Mountains\nPhillipsside, NE 98271"
    }
  ],
  "property_details": {
    "property_address": "613 Hicks Center, Suite 1761, South Amandachester, Louisiana 66299",
    "square_footage": 17384,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2023-06-02",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-06-01"
  },
  "financial_terms": {
    "base_rent_initial": 8975.06,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-06-01",
        "increase_value": 7.32,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-06-01",
        "increase_value": 1.62,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3909.84
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 1344.11
      }
    ],
    "security_deposit_amount": 8975.06
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "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, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in Nicoleborough"
  }
}