<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-TAKE-2023-115

This serves as a summary of the commercial lease executed on 2023-01-21 between the Lessor, Cordova-Dudley, and Lessee, Powell, Knight and Acosta. The subject of this agreement is the Warehouse property at 065 Stacey Station, Suite 1653, Michaelmouth, Mississippi 30955, comprising approximately 23,628 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 2023-03-27 and concluding on 2028-03-26. The tenant holds 2 option(s) to renew, with the first being for a 60-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 $3,244.80, payable on a annually basis. A security deposit of $6,489.60 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.89% taking effect on 2024-03-26. Additional rents include Operating Expenses (CAM) (Pro-rata share (13%)), Insurance (Pass-through), Real Estate Taxes (Pro-rata share (11%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Minor repairs to plumbing and electrical; Interior non-structural maintenance; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes. Signage must be approved by Lessor.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. 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-TAKE-2023-115",
  "document_date": "2023-01-21",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Cordova-Dudley",
      "entity_address": "943 John Mills Suite 850\nPort Joshuaport, CO 28722",
      "contact_person": "Christine Harrington"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Powell, Knight and Acosta",
      "entity_address": "3666 Huang Ville Suite 851\nSamanthaton, NH 58641"
    }
  ],
  "property_details": {
    "property_address": "065 Stacey Station, Suite 1653, Michaelmouth, Mississippi 30955",
    "square_footage": 23628,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1653"
  },
  "lease_term": {
    "start_date": "2023-03-27",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2028-03-26"
  },
  "financial_terms": {
    "base_rent_initial": 3244.8,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-03-26",
        "increase_value": 6.89,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-03-26",
        "increase_value": 3.92,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-03-26",
        "increase_value": 4.93,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 9492.93
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1204.56
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 1791.43
      }
    ],
    "security_deposit_amount": 6489.6
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}