<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-COURSE-2023-481

This serves as a summary of the commercial lease executed on 2023-02-23 between the Lessor, Brock, Williams and Todd, and Lessee, Cole and Sons. The subject of this agreement is the Office property at 1214 Taylor Oval, Suite 1082, Martinport, Wyoming 18883, comprising approximately 23,764 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 72 months, commencing on 2023-08-20 and concluding on 2029-08-19. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $1,574.78, payable on a quarterly basis. A security deposit of $3,149.56 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.4% taking effect on 2024-08-19. Additional rents include Operating Expenses (CAM) (Pro-rata share (13%)), Management Fee (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Interior non-structural maintenance; Pest control within the unit; Minor repairs to plumbing and electrical. 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.

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. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Montana. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-COURSE-2023-481",
  "document_date": "2023-02-23",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Brock, Williams and Todd",
      "entity_address": "6443 Kane Mountain\nPort Kristin, ND 30927"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Cole and Sons",
      "entity_address": "2196 Moore Rue\nPattonshire, FL 93445"
    }
  ],
  "property_details": {
    "property_address": "1214 Taylor Oval, Suite 1082, Martinport, Wyoming 18883",
    "square_footage": 23764,
    "property_type": "Office",
    "unit_identifier": "Suite 1082"
  },
  "lease_term": {
    "start_date": "2023-08-20",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2029-08-19"
  },
  "financial_terms": {
    "base_rent_initial": 1574.78,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-08-19",
        "increase_value": 3.4,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-19",
        "increase_value": 6.65,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-08-19",
        "increase_value": 4.61,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-08-19",
        "increase_value": 8.18,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (13%)"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6878.48
      }
    ],
    "security_deposit_amount": 3149.56
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Montana"
  }
}