<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-AUTHOR-2023-646

This serves as a summary of the commercial lease executed on 2023-02-22 between the Lessor, Rogers, Rodriguez and Bryant, and Lessee, Ward-Olsen. The subject of this agreement is the Warehouse property at 8499 Charles Harbor Suite 995, Suite 1908, New Jill, Oklahoma 59643, comprising approximately 9,800 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 60 months, commencing on 2023-07-21 and concluding on 2028-07-20. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $76,137.74, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 2.59 $/sf taking effect on 2024-07-20. Additional rents include Management Fee (Pass-through), Insurance (Pass-through), Operating Expenses (CAM) (Pro-rata share (2%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Common area maintenance (CAM); Structural repairs to building exterior and roof. The Lessee's duties include: All utility payments for the premises; Janitorial services within leased premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. No hazardous materials permitted on the premises without prior written consent.

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 Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-AUTHOR-2023-646",
  "document_date": "2023-02-22",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Rogers, Rodriguez and Bryant"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ward-Olsen",
      "entity_address": "26203 Bryan Loop Suite 081\nAndrewview, IA 16171"
    }
  ],
  "property_details": {
    "property_address": "8499 Charles Harbor Suite 995, Suite 1908, New Jill, Oklahoma 59643",
    "square_footage": 9800,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1908"
  },
  "lease_term": {
    "start_date": "2023-07-21",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2028-07-20"
  },
  "financial_terms": {
    "base_rent_initial": 76137.74,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-07-20",
        "increase_value": 2.59,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-20",
        "increase_value": 6.36,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8451.87
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2265.71
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (2%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Janitorial services within leased premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}