<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-CHANCE-2024-225

This serves as a summary of the commercial lease executed on 2024-08-01 between the Lessor, Lewis-Coleman, and Lessee, Lopez and Sons. The subject of this agreement is the Office property at 7147 Susan Hollow Suite 247, Suite 2200, West Devinland, Massachusetts 98553, comprising approximately 8,888 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 2024-12-24. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $64,465.02, payable on a monthly basis. A security deposit of $128,930.04 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.29 $/sf taking effect on 2025-12-24. Additional rents include Common Area Utilities (Pass-through), Operating Expenses (CAM) (Pro-rata share (10%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. No structural alterations without Lessor approval. Signage must be approved by Lessor.

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 present in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Texas. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-CHANCE-2024-225",
  "document_date": "2024-08-01",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Lewis-Coleman",
      "entity_address": "326 Jacobs Vista\nEast Jeannemouth, MT 90795",
      "contact_person": "Elizabeth Meza"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Lopez and Sons"
    }
  ],
  "property_details": {
    "property_address": "7147 Susan Hollow Suite 247, Suite 2200, West Devinland, Massachusetts 98553",
    "square_footage": 8888,
    "property_type": "Office"
  },
  "lease_term": {
    "start_date": "2024-12-24",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 64465.02,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-12-24",
        "increase_value": 8.29,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-12-24",
        "increase_value": 1.8,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-12-24",
        "increase_value": 5.66,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3855.52
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (10%)",
        "estimated_annual_cost": 1439.43
      }
    ],
    "security_deposit_amount": 128930.04
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Texas"
  }
}