<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-MAIN-2023-988

This serves as a summary of the commercial lease executed on 2023-07-15 between the Lessor, Frazier and Sons, and Lessee, Weaver-Chapman. The subject of this agreement is the Office property at 982 John Turnpike Suite 782, Suite 2275, Huntshire, Ohio 19498, comprising approximately 1,664 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 2023-07-15 and concluding on 2033-07-14. The tenant holds 2 option(s) to renew, with the first being for a 36-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 $12,396.74, payable on a monthly basis. A security deposit of $24,793.48 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.51 $/sf taking effect on 2024-07-14. Additional rents include Management Fee (Fixed annual contribution), Real Estate Taxes (Pass-through), Management Fee (Pass-through), Real Estate Taxes (Pro-rata share (9%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance; Landscaping and snow removal. The Lessee's duties include: Pest control within the unit; All utility payments for the premises; Interior non-structural maintenance; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM.

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 Binding arbitration in Zacharyside. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-MAIN-2023-988",
  "document_date": "2023-07-15",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Frazier and Sons",
      "contact_person": "Melissa Rodriguez"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Weaver-Chapman",
      "entity_address": "332 Richardson Ville Apt. 756\nNew Rickeyview, NY 23130"
    }
  ],
  "property_details": {
    "property_address": "982 John Turnpike Suite 782, Suite 2275, Huntshire, Ohio 19498",
    "square_footage": 1664,
    "property_type": "Office",
    "unit_identifier": "Suite 2275"
  },
  "lease_term": {
    "start_date": "2023-07-15",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2033-07-14"
  },
  "financial_terms": {
    "base_rent_initial": 12396.74,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-07-14",
        "increase_value": 7.51,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-07-14",
        "increase_value": 4.79,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-07-14",
        "increase_value": 8.52,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-07-14",
        "increase_value": 3.3,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 6843.51
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5029.84
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8703.96
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (9%)"
      }
    ],
    "security_deposit_amount": 24793.48
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "All utility payments for the premises",
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in Zacharyside"
  }
}