<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-TYPE-2023-171

This serves as a summary of the commercial lease executed on 2023-02-28 between the Lessor, Ross, Bray and Jones, and Lessee, Ramirez LLC. The subject of this agreement is the Retail property at 449 Lucero Route Suite 693, Suite 152, North Davidburgh, Oklahoma 74906, comprising approximately 3,098 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 2023-07-04 and concluding on 2029-07-03. The tenant holds 2 option(s) to renew, with the first being for a 60-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 $24,353.86, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 8.91 $/sf taking effect on 2024-07-03. Additional rents include Real Estate Taxes (Pass-through), Management Fee (Fixed annual contribution), Management Fee (Pass-through), Common Area Utilities (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement; Common area maintenance (CAM). 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. No hazardous materials permitted on the premises without prior written consent.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is notably absent 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-TYPE-2023-171",
  "document_date": "2023-02-28",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Ross, Bray and Jones",
      "entity_address": "0651 Hart Garden Apt. 106\nCherylmouth, WI 90172",
      "contact_person": "Emily Nguyen"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ramirez LLC",
      "entity_address": "Unit 1587 Box 6511\nDPO AE 74886"
    }
  ],
  "property_details": {
    "property_address": "449 Lucero Route Suite 693, Suite 152, North Davidburgh, Oklahoma 74906",
    "square_footage": 3098,
    "property_type": "Retail",
    "unit_identifier": "Suite 152"
  },
  "lease_term": {
    "start_date": "2023-07-04",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2029-07-03"
  },
  "financial_terms": {
    "base_rent_initial": 24353.86,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-07-03",
        "increase_value": 8.91,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-07-03",
        "increase_value": 6.87,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-07-03",
        "increase_value": 4.31,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6351.94
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5892.45
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4385.48
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 6894.46
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}