<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-FISH-2022-971

This serves as a summary of the commercial lease executed on 2022-09-12 between the Lessor, Medina-Smith, and Lessee, Hernandez-Andrews. The subject of this agreement is the Retail property at 19145 Brenda Center, Suite 1267, Vaughnfurt, Mississippi 95874, comprising approximately 3,308 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 2022-11-10. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $4,835.28, payable on a monthly basis. A security deposit of $4,835.28 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.43% taking effect on 2023-11-10. Additional rents include Insurance (Pro-rata share (15%)), Common Area Utilities (Pro-rata share (12%)), Common Area Utilities (Pro-rata share (7%)), Insurance (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises; Minor repairs to plumbing and electrical; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Premises to be used solely for general office purposes. No hazardous materials permitted on the premises without prior written consent.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Binding arbitration in Jocelynview. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-FISH-2022-971",
  "document_date": "2022-09-12",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Medina-Smith",
      "contact_person": "Danielle Chan"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hernandez-Andrews",
      "entity_address": "034 Rachel Heights Apt. 937\nSmithside, WY 88479"
    }
  ],
  "property_details": {
    "property_address": "19145 Brenda Center, Suite 1267, Vaughnfurt, Mississippi 95874",
    "square_footage": 3308,
    "property_type": "Retail"
  },
  "lease_term": {
    "start_date": "2022-11-10",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 4835.28,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2023-11-10",
        "increase_value": 4.43,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-11-09",
        "increase_value": 2.33,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (15%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (12%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 2609.4
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 5697.0
      }
    ],
    "security_deposit_amount": 4835.28
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in Jocelynview"
  }
}