<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-IMPROVE-2023-687

This serves as a summary of the commercial lease executed on 2023-10-24 between the Lessor, Lowery Ltd, and Lessee, Bowman-Williams. The subject of this agreement is the Industrial property at 663 Barker Vista, Suite 2143, East Madisonborough, Oregon 17420, comprising approximately 18,040 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 2024-02-29 and concluding on 2034-02-28. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $81,131.21, payable on a monthly basis. A security deposit of $162,262.42 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.12% taking effect on 2025-02-28. Additional rents include Real Estate Taxes (Fixed annual contribution), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor. 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. Any potential disputes are to be resolved via Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-IMPROVE-2023-687",
  "document_date": "2023-10-24",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Lowery Ltd",
      "entity_address": "893 Natalie Ports\nPort Brenda, GA 00926",
      "contact_person": "Victoria Evans"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Bowman-Williams",
      "entity_address": "921 Rachel Plaza\nNew Duaneburgh, VI 36654"
    }
  ],
  "property_details": {
    "property_address": "663 Barker Vista, Suite 2143, East Madisonborough, Oregon 17420",
    "square_footage": 18040,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2024-02-29",
    "term_duration_months": 120,
    "renewal_options": [],
    "end_date": "2034-02-28"
  },
  "financial_terms": {
    "base_rent_initial": 81131.21,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-02-28",
        "increase_value": 4.12,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-02-28",
        "increase_value": 2.12,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-02-28",
        "increase_value": 3.85,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6745.09
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8019.86
      }
    ],
    "security_deposit_amount": 162262.42
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor.",
    "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.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}