<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-LONG-2023-580

This serves as a summary of the commercial lease executed on 2023-08-07 between the Lessor, Williams, Coleman and Adams, and Lessee, Martinez Ltd. The subject of this agreement is the Office property at 742 Bailey Mountains Apt. 738, Suite 1490, Lukeberg, Maryland 34781, comprising approximately 18,173 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 2023-08-14 and concluding on 2030-08-13. The tenant holds 2 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $57,265.07, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 2.2% taking effect on 2024-08-13. Additional rents include Common Area Utilities (Fixed annual contribution), Common Area Utilities (Pro-rata share (2%)), Operating Expenses (CAM) (Fixed annual contribution), Real Estate Taxes (Pro-rata share (7%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM); Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; Interior non-structural maintenance; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No hazardous materials permitted on the premises without prior written consent. No structural alterations without Lessor approval.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of New Mexico. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-LONG-2023-580",
  "document_date": "2023-08-07",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Williams, Coleman and Adams",
      "entity_address": "87744 Charles Union Suite 624\nMullinsborough, CT 43550"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Martinez Ltd",
      "entity_address": "144 Lynch Mountain\nNew Sherry, UT 96393"
    }
  ],
  "property_details": {
    "property_address": "742 Bailey Mountains Apt. 738, Suite 1490, Lukeberg, Maryland 34781",
    "square_footage": 18173,
    "property_type": "Office",
    "unit_identifier": "Suite 1490"
  },
  "lease_term": {
    "start_date": "2023-08-14",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-08-13"
  },
  "financial_terms": {
    "base_rent_initial": 57265.07,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-08-13",
        "increase_value": 2.2,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-13",
        "increase_value": 6.86,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-08-13",
        "increase_value": 6.75,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-08-13",
        "increase_value": 0.25,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3023.84
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (2%)"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2058.71
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 9823.68
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of New Mexico"
  }
}