<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-PUT-2023-448

This serves as a summary of the commercial lease executed on 2023-12-15 between the Lessor, Garza and Sons, and Lessee, Rhodes-Morrow. The subject of this agreement is the Warehouse property at 885 Suzanne Path, Suite 1723, North Roberto, Mississippi 69785, comprising approximately 3,630 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. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $46,221.20, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 2.96 $/sf taking effect on 2025-02-18. Additional rents include Operating Expenses (CAM) (Pro-rata share (12%)), Management Fee (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Landscaping and snow removal; HVAC system maintenance and replacement. The Lessee's duties include: Minor repairs to plumbing and electrical; Janitorial services within leased premises. 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: Permitted only to an affiliate entity with 30 days prior notice. A force majeure clause is notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-PUT-2023-448",
  "document_date": "2023-12-15",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Garza and Sons",
      "contact_person": "Michael Matthews"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Rhodes-Morrow",
      "entity_address": "02507 Andrea Field\nNew Jasmine, MO 18045"
    }
  ],
  "property_details": {
    "property_address": "885 Suzanne Path, Suite 1723, North Roberto, Mississippi 69785",
    "square_footage": 3630,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1723"
  },
  "lease_term": {
    "start_date": "2024-02-19",
    "term_duration_months": 72,
    "renewal_options": [],
    "end_date": "2030-02-18"
  },
  "financial_terms": {
    "base_rent_initial": 46221.2,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-02-18",
        "increase_value": 2.96,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-02-18",
        "increase_value": 1.18,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-02-18",
        "increase_value": 8.17,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2028-02-18",
        "increase_value": 6.01,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (12%)"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9378.48
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises"
    ]
  },
  "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": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}