<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-ARTICLE-2023-868

This serves as a summary of the commercial lease executed on 2023-09-18 between the Lessor, Hodge-Gomez, and Lessee, Galloway, Huerta and Baker. The subject of this agreement is the Office property at 987 Jeff Loaf Apt. 109, Suite 1617, New Ronaldtown, Minnesota 09637, comprising approximately 7,735 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 2024-02-23 and concluding on 2034-02-22. The tenant holds 2 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 Market Rate.

Financial obligations begin with an initial base rent of $9,412.61, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 6.4 $/sf taking effect on 2025-02-22. Additional rents include Operating Expenses (CAM) (Pro-rata share (5%)), Operating Expenses (CAM) (Pro-rata share (6%)), Insurance (Fixed annual contribution), Operating Expenses (CAM) (Pro-rata share (14%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Parking lot maintenance; Landscaping and snow removal. The Lessee's duties include: Pest control within the unit; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. 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: 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-ARTICLE-2023-868",
  "document_date": "2023-09-18",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hodge-Gomez",
      "entity_address": "7555 Klein Squares\nSalasburgh, NH 46378",
      "contact_person": "Alan Chang"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Galloway, Huerta and Baker",
      "entity_address": "7333 Levy Brook Apt. 708\nSouth Josephland, PA 26934"
    }
  ],
  "property_details": {
    "property_address": "987 Jeff Loaf Apt. 109, Suite 1617, New Ronaldtown, Minnesota 09637",
    "square_footage": 7735,
    "property_type": "Office",
    "unit_identifier": "Suite 1617"
  },
  "lease_term": {
    "start_date": "2024-02-23",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2034-02-22"
  },
  "financial_terms": {
    "base_rent_initial": 9412.61,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-02-22",
        "increase_value": 6.4,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-02-22",
        "increase_value": 6.12,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-02-22",
        "increase_value": 4.97,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 6516.23
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 8398.25
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3390.84
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (14%)",
        "estimated_annual_cost": 6179.84
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}