<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-FAMILY-2023-371

This serves as a summary of the commercial lease executed on 2023-11-04 between the Lessor, Chung, Reed and Bernard, and Lessee, Dixon, Gaines and Hamilton. The subject of this agreement is the Warehouse property at 18160 Torres Fork, Suite 1295, South Robert, Indiana 35415, comprising approximately 2,759 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 60 months, commencing on 2023-11-04 and concluding on 2028-11-03. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $7,145.26, payable on a monthly basis. A security deposit of $14,290.52 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.05 $/sf taking effect on 2024-11-03. Additional rents include Insurance (Pro-rata share (10%)), Insurance (Fixed annual contribution), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement; Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted only to an affiliate entity with 30 days prior notice. 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-FAMILY-2023-371",
  "document_date": "2023-11-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Chung, Reed and Bernard",
      "contact_person": "Yolanda Alexander"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Dixon, Gaines and Hamilton",
      "entity_address": "0311 Hill Shore Apt. 729\nDeanhaven, NM 70226"
    }
  ],
  "property_details": {
    "property_address": "18160 Torres Fork, Suite 1295, South Robert, Indiana 35415",
    "square_footage": 2759,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1295"
  },
  "lease_term": {
    "start_date": "2023-11-04",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2028-11-03"
  },
  "financial_terms": {
    "base_rent_initial": 7145.26,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-11-03",
        "increase_value": 4.05,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-11-03",
        "increase_value": 1.26,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-11-03",
        "increase_value": 9.32,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (10%)",
        "estimated_annual_cost": 2839.7
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8322.01
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 14290.52
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}