<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-GREAT-2023-531

This serves as a summary of the commercial lease executed on 2023-11-04 between the Lessor, Davenport LLC, and Lessee, Allen Inc. The subject of this agreement is the Medical Office property at 8711 Davis Ramp Apt. 546, Suite 2142, Martinstad, Oklahoma 74759, comprising approximately 11,207 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 2024-01-21 and concluding on 2031-01-20. 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $2,598.46, payable on a annually basis. A security deposit of $5,196.92 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.8 $/sf taking effect on 2025-01-20. Additional rents include Management Fee (Fixed annual contribution), Management Fee (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM.

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. Any potential disputes are to be resolved via Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-GREAT-2023-531",
  "document_date": "2023-11-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Davenport LLC",
      "entity_address": "03965 Steven Isle Suite 722\nJimmyfort, IL 55170",
      "contact_person": "Bobby Palmer"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Allen Inc",
      "entity_address": "USNS Smith\nFPO AE 25335"
    }
  ],
  "property_details": {
    "property_address": "8711 Davis Ramp Apt. 546, Suite 2142, Martinstad, Oklahoma 74759",
    "square_footage": 11207,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 2142"
  },
  "lease_term": {
    "start_date": "2024-01-21",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2031-01-20"
  },
  "financial_terms": {
    "base_rent_initial": 2598.46,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-01-20",
        "increase_value": 6.8,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-01-20",
        "increase_value": 7.61,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-01-20",
        "increase_value": 6.16,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 8960.03
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 5196.92
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}