<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-RIGHT-2024-625

This serves as a summary of the commercial lease executed on 2024-03-17 between the Lessor, Garcia Group, and Lessee, Martinez, Osborne and Smith. The subject of this agreement is the Industrial property at 438 Solis Creek, Suite 1531, East Natalie, Ohio 57505, comprising approximately 15,458 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 2024-07-04 and concluding on 2029-07-04. The tenant holds 1 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $53,123.64, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 1.78 $/sf taking effect on 2025-07-04. Additional rents include Operating Expenses (CAM) (Pro-rata share (15%)), Operating Expenses (CAM) (Fixed annual contribution), Insurance (Pro-rata share (15%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Structural repairs to building exterior and roof. The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical; All utility payments for the premises. 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. 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 present in the agreement. Any potential disputes are to be resolved via Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-RIGHT-2024-625",
  "document_date": "2024-03-17",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Garcia Group",
      "contact_person": "Eric Sandoval"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Martinez, Osborne and Smith"
    }
  ],
  "property_details": {
    "property_address": "438 Solis Creek, Suite 1531, East Natalie, Ohio 57505",
    "square_footage": 15458,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2024-07-04",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2029-07-04"
  },
  "financial_terms": {
    "base_rent_initial": 53123.64,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-07-04",
        "increase_value": 1.78,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-07-04",
        "increase_value": 4.0,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 3762.05
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4466.18
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (15%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}