<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-POPULATION-2024-952

This serves as a summary of the commercial lease executed on 2024-01-13 between the Lessor, Gonzalez, Higgins and Harrison, and Lessee, Miller-Gonzalez. The subject of this agreement is the Industrial property at 12962 Gibbs Mountains Apt. 851, Suite 1214, Lake Luis, Louisiana 24427, comprising approximately 18,619 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 2024-03-24 and concluding on 2031-03-24. The tenant holds 1 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $3,001.93, payable on a quarterly basis. A security deposit of $6,003.86 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.11 $/sf taking effect on 2025-03-24. Additional rents include Real Estate Taxes (Pro-rata share (9%)), Insurance (Pass-through), Real Estate Taxes (Pass-through), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal. The Lessee's duties include: Interior non-structural maintenance; 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. No hazardous materials permitted on the premises without prior written consent.

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 present in the agreement. Any potential disputes are to be resolved via Binding arbitration in East Kylieburgh. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-POPULATION-2024-952",
  "document_date": "2024-01-13",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Gonzalez, Higgins and Harrison",
      "entity_address": "PSC 9388, Box 6347\nAPO AA 88064",
      "contact_person": "Tammy Smith"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Miller-Gonzalez",
      "entity_address": "05967 Ramirez Point\nWilsonfurt, OH 30114"
    }
  ],
  "property_details": {
    "property_address": "12962 Gibbs Mountains Apt. 851, Suite 1214, Lake Luis, Louisiana 24427",
    "square_footage": 18619,
    "property_type": "Industrial"
  },
  "lease_term": {
    "start_date": "2024-03-24",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2031-03-24"
  },
  "financial_terms": {
    "base_rent_initial": 3001.93,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-24",
        "increase_value": 8.11,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-24",
        "increase_value": 0.7,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-03-24",
        "increase_value": 6.26,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-03-23",
        "increase_value": 4.24,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 5247.66
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 5483.11
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1085.15
      }
    ],
    "security_deposit_amount": 6003.86
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in East Kylieburgh"
  }
}