<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-TOP-2023-224

This serves as a summary of the commercial lease executed on 2023-12-17 between the Lessor, Miller-Davis, and Lessee, Brooks-Nelson. The subject of this agreement is the Office property at 70554 Jon Square Apt. 497, Suite 1971, New Bryanfurt, Kentucky 37086, comprising approximately 12,007 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 2024-02-19. 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 Fixed Percentage.

Financial obligations begin with an initial base rent of $9,684.55, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 9.61% taking effect on 2025-02-18. Additional rents include Real Estate Taxes (Pass-through), Common Area Utilities (Pro-rata share (13%)), Insurance (Fixed annual contribution), Common Area Utilities (Pro-rata share (8%)).

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: Minor repairs to plumbing and electrical; All utility payments for the 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 notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-TOP-2023-224",
  "document_date": "2023-12-17",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Miller-Davis",
      "entity_address": "459 Eric Extensions Apt. 739\nNorth Jenniferhaven, NM 60592",
      "contact_person": "Linda Bell"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Brooks-Nelson",
      "entity_address": "PSC 2735, Box 1888\nAPO AP 76661"
    }
  ],
  "property_details": {
    "property_address": "70554 Jon Square Apt. 497, Suite 1971, New Bryanfurt, Kentucky 37086",
    "square_footage": 12007,
    "property_type": "Office",
    "unit_identifier": "Suite 1971"
  },
  "lease_term": {
    "start_date": "2024-02-19",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 9684.55,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-02-18",
        "increase_value": 9.61,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-02-18",
        "increase_value": 9.96,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-02-18",
        "increase_value": 8.13,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-02-18",
        "increase_value": 7.27,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2090.97
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 8558.36
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8768.29
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 2392.22
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "All utility payments for the 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": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}