<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-ACCOUNT-2023-767

This serves as a summary of the commercial lease executed on 2023-02-02 between the Lessor, Adkins, Burns and Johnson, and Lessee, Hernandez LLC. The subject of this agreement is the Retail property at 2240 Dorothy Station, Suite 1705, Douglasland, Arizona 61830, comprising approximately 5,975 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 2023-04-04 and concluding on 2030-04-03. 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 Market Rate.

Financial obligations begin with an initial base rent of $8,989.70, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 3.22% taking effect on 2024-04-03. Additional rents include Management Fee (Fixed annual contribution), Insurance (Pro-rata share (8%)), Management Fee (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); HVAC system maintenance and replacement; Structural repairs to building exterior and roof. The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: Premises to be used solely for general office purposes. No structural alterations without Lessor approval.

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.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ACCOUNT-2023-767",
  "document_date": "2023-02-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Adkins, Burns and Johnson",
      "contact_person": "Tracy Casey"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hernandez LLC",
      "entity_address": "8459 Potter Lane Suite 905\nEast Renee, OH 16725"
    }
  ],
  "property_details": {
    "property_address": "2240 Dorothy Station, Suite 1705, Douglasland, Arizona 61830",
    "square_footage": 5975,
    "property_type": "Retail",
    "unit_identifier": "Suite 1705"
  },
  "lease_term": {
    "start_date": "2023-04-04",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2030-04-03"
  },
  "financial_terms": {
    "base_rent_initial": 8989.7,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-04-03",
        "increase_value": 3.22,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-04-03",
        "increase_value": 8.89,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-04-03",
        "increase_value": 5.7,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1716.24
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 7827.33
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}