<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-SIMPLY-2022-526

This serves as a summary of the commercial lease executed on 2022-12-28 between the Lessor, Gray, Smith and Proctor, and Lessee, Logan-Bennett. The subject of this agreement is the Industrial property at 168 Flores Plains, Suite 913, Lake Kenneth, Kentucky 17293, comprising approximately 8,397 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 2023-02-23 and concluding on 2030-02-22. 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $1,141.56, payable on a quarterly basis. A security deposit of $2,283.12 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.43 $/sf taking effect on 2024-02-23. Additional rents include Real Estate Taxes (Pass-through), Real Estate Taxes (Fixed annual contribution).

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: Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. Business operations restricted to 8:00 AM to 10:00 PM. No structural alterations without Lessor approval.

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-SIMPLY-2022-526",
  "document_date": "2022-12-28",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Gray, Smith and Proctor",
      "entity_address": "4705 Duncan Mountain\nPort Kevinmouth, FL 33313"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Logan-Bennett",
      "entity_address": "19953 Patricia Dale\nWest Sabrina, DC 90122"
    }
  ],
  "property_details": {
    "property_address": "168 Flores Plains, Suite 913, Lake Kenneth, Kentucky 17293",
    "square_footage": 8397,
    "property_type": "Industrial",
    "unit_identifier": "Suite 913"
  },
  "lease_term": {
    "start_date": "2023-02-23",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-02-22"
  },
  "financial_terms": {
    "base_rent_initial": 1141.56,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-02-23",
        "increase_value": 7.43,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-02-22",
        "increase_value": 9.59,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-02-22",
        "increase_value": 7.92,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4856.07
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1100.76
      }
    ],
    "security_deposit_amount": 2283.12
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}