<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-STUDENT-2022-898

This serves as a summary of the commercial lease executed on 2022-12-23 between the Lessor, Sandoval and Sons, and Lessee, Garcia, Dickerson and Fisher. The subject of this agreement is the Office property at 3721 Hogan Ports Apt. 200, Suite 1823, North Patricia, Connecticut 53633, comprising approximately 5,108 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 2023-03-18 and concluding on 2030-03-17. The tenant holds 2 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $71,011.10, payable on a monthly basis. A security deposit of $142,022.20 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.29 $/sf taking effect on 2024-03-17. Additional rents include Insurance (Pro-rata share (3%)), Insurance (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Structural repairs to building exterior and roof. The Lessee's duties include: Minor repairs to plumbing and electrical; Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM. No structural alterations without Lessor approval.

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 notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-STUDENT-2022-898",
  "document_date": "2022-12-23",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Sandoval and Sons",
      "contact_person": "Frances Taylor"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Garcia, Dickerson and Fisher",
      "entity_address": "8742 Lyons Ridge Suite 195\nDavidchester, GU 04028"
    }
  ],
  "property_details": {
    "property_address": "3721 Hogan Ports Apt. 200, Suite 1823, North Patricia, Connecticut 53633",
    "square_footage": 5108,
    "property_type": "Office"
  },
  "lease_term": {
    "start_date": "2023-03-18",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2030-03-17"
  },
  "financial_terms": {
    "base_rent_initial": 71011.1,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-03-17",
        "increase_value": 1.29,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-17",
        "increase_value": 2.7,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-17",
        "increase_value": 4.63,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 5383.21
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7902.74
      }
    ],
    "security_deposit_amount": 142022.2
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}