<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-ITSELF-2022-296

This serves as a summary of the commercial lease executed on 2022-09-23 between the Lessor, Alvarado-Murray, and Lessee, Jones-Wheeler. The subject of this agreement is the Warehouse property at 3535 Nichols Ridges, Suite 2300, Elizabethmouth, Kentucky 19090, comprising approximately 20,888 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 2022-11-30 and concluding on 2029-11-29. The tenant holds 2 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $5,755.09, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 6.14 $/sf taking effect on 2023-11-30. Additional rents include Common Area Utilities (Fixed annual contribution), Common Area Utilities (Pro-rata share (8%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; HVAC system maintenance and replacement; Parking lot maintenance. The Lessee's duties include: Pest control within the unit; Minor repairs to plumbing and electrical; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent. No structural alterations without Lessor approval.

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 notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ITSELF-2022-296",
  "document_date": "2022-09-23",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Alvarado-Murray",
      "contact_person": "Amy Miles"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Jones-Wheeler",
      "entity_address": "4003 Hudson Neck\nCarlymouth, DE 76501"
    }
  ],
  "property_details": {
    "property_address": "3535 Nichols Ridges, Suite 2300, Elizabethmouth, Kentucky 19090",
    "square_footage": 20888,
    "property_type": "Warehouse"
  },
  "lease_term": {
    "start_date": "2022-11-30",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2029-11-29"
  },
  "financial_terms": {
    "base_rent_initial": 5755.09,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2023-11-30",
        "increase_value": 6.14,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-11-29",
        "increase_value": 6.52,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-11-29",
        "increase_value": 4.45,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-11-29",
        "increase_value": 6.68,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (8%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}