<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-SITE-2022-575

This serves as a summary of the commercial lease executed on 2022-10-16 between the Lessor, Ramirez-Case, and Lessee, Cuevas, Taylor and Garrett. The subject of this agreement is the Warehouse property at 02830 David Underpass, Suite 1501, Lake Bradleyville, California 60012, comprising approximately 13,460 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 2023-01-07 and concluding on 2030-01-06. 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 $34,001.58, payable on a annually basis. A security deposit of $34,001.58 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.42% taking effect on 2024-01-07. Additional rents include Management Fee (Fixed annual contribution), Real Estate Taxes (Pro-rata share (11%)), Common Area Utilities (Pro-rata share (7%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Parking lot maintenance; Structural repairs to building exterior and roof. The Lessee's duties include: Minor repairs to plumbing and electrical; All utility payments for the premises; Janitorial services within leased premises; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: 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: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. 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-SITE-2022-575",
  "document_date": "2022-10-16",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Ramirez-Case",
      "contact_person": "Sarah Sandoval"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Cuevas, Taylor and Garrett",
      "entity_address": "67232 Elizabeth Springs Apt. 884\nLake Brenda, MI 03897"
    }
  ],
  "property_details": {
    "property_address": "02830 David Underpass, Suite 1501, Lake Bradleyville, California 60012",
    "square_footage": 13460,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1501"
  },
  "lease_term": {
    "start_date": "2023-01-07",
    "term_duration_months": 84,
    "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": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-01-06"
  },
  "financial_terms": {
    "base_rent_initial": 34001.58,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-01-07",
        "increase_value": 0.42,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-01-06",
        "increase_value": 2.2,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-01-06",
        "increase_value": 4.59,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (11%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 7799.15
      }
    ],
    "security_deposit_amount": 34001.58
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises",
      "Janitorial services within leased premises",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "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": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}