<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-GAS-2023-404

This serves as a summary of the commercial lease executed on 2023-10-30 between the Lessor, Gardner Inc, and Lessee, Frederick, Saunders and Villa. The subject of this agreement is the Warehouse property at 68561 Derek Green, Suite 532, South Timothymouth, Arizona 67354, comprising approximately 15,308 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 72 months, commencing on 2024-02-19 and concluding on 2030-02-18. 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 $13,472.22, payable on a annually basis. A security deposit of $13,472.22 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.5 $/sf taking effect on 2025-02-18. Additional rents include Insurance (Pass-through), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Business operations restricted to 8:00 AM to 10:00 PM.

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. 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-GAS-2023-404",
  "document_date": "2023-10-30",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Gardner Inc",
      "entity_address": "823 Christopher Expressway Suite 910\nEast Erik, PR 61118",
      "contact_person": "Brooke Kelly"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Frederick, Saunders and Villa"
    }
  ],
  "property_details": {
    "property_address": "68561 Derek Green, Suite 532, South Timothymouth, Arizona 67354",
    "square_footage": 15308,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 532"
  },
  "lease_term": {
    "start_date": "2024-02-19",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-02-18"
  },
  "financial_terms": {
    "base_rent_initial": 13472.22,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-02-18",
        "increase_value": 1.5,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-02-18",
        "increase_value": 7.4,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-02-18",
        "increase_value": 3.31,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6385.62
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4276.02
      }
    ],
    "security_deposit_amount": 13472.22
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}