<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-THESE-2023-212

This serves as a summary of the commercial lease executed on 2023-02-16 between the Lessor, Jimenez Ltd, and Lessee, Pierce-Robinson. The subject of this agreement is the Industrial property at 902 Horton Keys Apt. 692, Suite 206, Nelsonfort, Iowa 39600, comprising approximately 8,634 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 2023-02-26 and concluding on 2030-02-25. The tenant holds 2 option(s) to renew, with the first being for a 36-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 $2,415.68, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 5.85% taking effect on 2024-02-26. Additional rents include Insurance (Pro-rata share (12%)), Common Area Utilities (Pro-rata share (9%)), Operating Expenses (CAM) (Pass-through), Management Fee (Pass-through).

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: Interior non-structural maintenance; All utility payments for the premises; Minor repairs to plumbing and electrical. 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.

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 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-THESE-2023-212",
  "document_date": "2023-02-16",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Jimenez Ltd",
      "entity_address": "PSC 9927, Box 6941\nAPO AP 16199"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Pierce-Robinson",
      "entity_address": "18332 Wilson Village\nRomeroport, MT 36092"
    }
  ],
  "property_details": {
    "property_address": "902 Horton Keys Apt. 692, Suite 206, Nelsonfort, Iowa 39600",
    "square_footage": 8634,
    "property_type": "Industrial",
    "unit_identifier": "Suite 206"
  },
  "lease_term": {
    "start_date": "2023-02-26",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-02-25"
  },
  "financial_terms": {
    "base_rent_initial": 2415.68,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-02-26",
        "increase_value": 5.85,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-02-25",
        "increase_value": 4.74,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-02-25",
        "increase_value": 8.76,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 6563.87
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 9406.6
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1374.64
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9647.54
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}