<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-SEEK-2023-495

This serves as a summary of the commercial lease executed on 2023-12-26 between the Lessor, Gibbs, Clark and Jones, and Lessee, Reyes, Acosta and Green. The subject of this agreement is the Retail property at 01591 Alan Springs Apt. 105, Suite 865, New Travisport, Arkansas 91831, comprising approximately 17,956 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 36 months, commencing on 2024-01-13 and concluding on 2027-01-12. The tenant holds 2 option(s) to renew, with the first being for a 60-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 $7,687.59, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 0.67% taking effect on 2025-01-12. Additional rents include Operating Expenses (CAM) (Pass-through), Management Fee (Pro-rata share (4%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: Pest control within the unit; Minor repairs to plumbing and electrical; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. 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-SEEK-2023-495",
  "document_date": "2023-12-26",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Gibbs, Clark and Jones",
      "entity_address": "37670 Richardson Mills Apt. 735\nPort Jillianchester, WY 80880",
      "contact_person": "Kendra Mcdaniel"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Reyes, Acosta and Green",
      "entity_address": "80815 Sweeney Mission\nNorth Stacey, NJ 87838"
    }
  ],
  "property_details": {
    "property_address": "01591 Alan Springs Apt. 105, Suite 865, New Travisport, Arkansas 91831",
    "square_footage": 17956,
    "property_type": "Retail",
    "unit_identifier": "Suite 865"
  },
  "lease_term": {
    "start_date": "2024-01-13",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2027-01-12"
  },
  "financial_terms": {
    "base_rent_initial": 7687.59,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-01-12",
        "increase_value": 0.67,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-01-12",
        "increase_value": 1.64,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-01-12",
        "increase_value": 4.75,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3898.88
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (4%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}