<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-DEAL-2023-285

This serves as a summary of the commercial lease executed on 2023-06-12 between the Lessor, Smith, Guerra and Huynh, and Lessee, Lopez Group. The subject of this agreement is the Industrial property at 39778 Micheal Summit Apt. 005, Suite 208, Davidview, Indiana 44410, comprising approximately 14,564 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 120 months, commencing on 2023-08-20 and concluding on 2033-08-19. The tenant holds 1 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 Fixed Percentage.

Financial obligations begin with an initial base rent of $58,887.83, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 2.49% taking effect on 2024-08-19. Additional rents include Management Fee (Pass-through), Common Area Utilities (Pass-through), Real Estate Taxes (Pro-rata share (3%)), Real Estate Taxes (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: 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: 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: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Jonestown. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-DEAL-2023-285",
  "document_date": "2023-06-12",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Smith, Guerra and Huynh"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Lopez Group"
    }
  ],
  "property_details": {
    "property_address": "39778 Micheal Summit Apt. 005, Suite 208, Davidview, Indiana 44410",
    "square_footage": 14564,
    "property_type": "Industrial",
    "unit_identifier": "Suite 208"
  },
  "lease_term": {
    "start_date": "2023-08-20",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2033-08-19"
  },
  "financial_terms": {
    "base_rent_initial": 58887.83,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-08-19",
        "increase_value": 2.49,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-08-19",
        "increase_value": 0.98,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-08-19",
        "increase_value": 4.57,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-08-19",
        "increase_value": 0.25,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2508.83
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2455.75
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 4915.48
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (11%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Interior non-structural maintenance",
      "All utility payments for the 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": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in Jonestown"
  }
}