<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-FLY-2023-479

This serves as a summary of the commercial lease executed on 2023-05-13 between the Lessor, Castillo-Lawson, and Lessee, Orr PLC. The subject of this agreement is the Medical Office property at 0542 Zavala Centers, Suite 1225, Youngview, Colorado 49017, comprising approximately 2,737 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 2023-10-29 and concluding on 2029-10-28. The tenant holds 2 option(s) to renew, with the first being for a 24-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 $3,081.50, payable on a annually basis. A security deposit of $3,081.50 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.67% taking effect on 2024-10-28. Additional rents include Management Fee (Pass-through), Management Fee (Fixed annual contribution), Insurance (Fixed annual contribution), Insurance (Pro-rata share (3%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal. The Lessee's duties include: Interior non-structural maintenance; All utility payments for the premises; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor.

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 Binding arbitration in Clarkmouth. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-FLY-2023-479",
  "document_date": "2023-05-13",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Castillo-Lawson",
      "entity_address": "244 Smith Drives\nLake Pamela, WV 79247",
      "contact_person": "Elizabeth Burton"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Orr PLC",
      "entity_address": "27516 Theresa Street\nMurphymouth, MS 51549"
    }
  ],
  "property_details": {
    "property_address": "0542 Zavala Centers, Suite 1225, Youngview, Colorado 49017",
    "square_footage": 2737,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1225"
  },
  "lease_term": {
    "start_date": "2023-10-29",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2029-10-28"
  },
  "financial_terms": {
    "base_rent_initial": 3081.5,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-10-28",
        "increase_value": 8.67,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-10-28",
        "increase_value": 7.32,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-10-28",
        "increase_value": 0.32,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-10-28",
        "increase_value": 5.51,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2096.45
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3892.03
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (3%)"
      }
    ],
    "security_deposit_amount": 3081.5
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in Clarkmouth"
  }
}