<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-ARTICLE-2023-316

This serves as a summary of the commercial lease executed on 2023-12-21 between the Lessor, Nichols, Cole and Green, and Lessee, Ramirez, Powell and Nelson. The subject of this agreement is the Industrial property at 25766 Butler Forges, Suite 1010, Jonathanmouth, Iowa 94730, comprising approximately 24,001 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 120 months, commencing on 2024-02-20 and concluding on 2034-02-19. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $69,661.50, payable on a monthly basis. A security deposit of $139,323.00 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 5.91 $/sf taking effect on 2025-02-19. Additional rents include Common Area Utilities (Pass-through), Insurance (Fixed annual contribution), Insurance (Pro-rata share (14%)), Real Estate Taxes (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Premises to be used solely for general office purposes. No structural alterations without Lessor approval.

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 notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ARTICLE-2023-316",
  "document_date": "2023-12-21",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Nichols, Cole and Green",
      "entity_address": "5844 Palmer Island Apt. 003\nNew Dana, WV 59833",
      "contact_person": "Todd Gallagher"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ramirez, Powell and Nelson",
      "entity_address": "4449 Reid Street\nRachaelfort, IA 87677"
    }
  ],
  "property_details": {
    "property_address": "25766 Butler Forges, Suite 1010, Jonathanmouth, Iowa 94730",
    "square_footage": 24001,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2024-02-20",
    "term_duration_months": 120,
    "renewal_options": [],
    "end_date": "2034-02-19"
  },
  "financial_terms": {
    "base_rent_initial": 69661.5,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-02-19",
        "increase_value": 5.91,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-02-19",
        "increase_value": 6.52,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-02-19",
        "increase_value": 9.35,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2028-02-19",
        "increase_value": 2.49,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1132.82
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1586.25
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 6175.1
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4680.63
      }
    ],
    "security_deposit_amount": 139323.0
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}