<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-DETERMINE-2023-303

This serves as a summary of the commercial lease executed on 2023-07-06 between the Lessor, Martinez, Cox and Bush, and Lessee, Hughes, Hernandez and Lewis. The subject of this agreement is the Office property at 6344 Eric Dale, Suite 1688, Kennedyborough, Minnesota 28188, comprising approximately 6,233 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 36 months, commencing on 2023-12-20 and concluding on 2026-12-19. 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 $82,545.60, payable on a quarterly basis. A security deposit of $82,545.60 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.87 $/sf taking effect on 2024-12-19. Additional rents include Common Area Utilities (Pro-rata share (3%)), Management Fee (Fixed annual contribution), Insurance (Pro-rata share (5%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance. The Lessee's duties include: All utility payments for the premises; Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. Signage must be approved by Lessor. No hazardous materials permitted on the premises without prior written consent.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-DETERMINE-2023-303",
  "document_date": "2023-07-06",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Martinez, Cox and Bush",
      "entity_address": "41372 Erika Inlet Apt. 827\nLisaport, KY 35026"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hughes, Hernandez and Lewis",
      "entity_address": "96415 Mills Corner Apt. 024\nKellychester, VA 37979"
    }
  ],
  "property_details": {
    "property_address": "6344 Eric Dale, Suite 1688, Kennedyborough, Minnesota 28188",
    "square_footage": 6233,
    "property_type": "Office"
  },
  "lease_term": {
    "start_date": "2023-12-20",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2026-12-19"
  },
  "financial_terms": {
    "base_rent_initial": 82545.6,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-12-19",
        "increase_value": 8.87,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-12-19",
        "increase_value": 5.88,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-12-19",
        "increase_value": 3.73,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-12-19",
        "increase_value": 7.6,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 9307.91
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (5%)"
      }
    ],
    "security_deposit_amount": 82545.6
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Signage must be approved by Lessor.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}