<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-TOO-2023-965

This serves as a summary of the commercial lease executed on 2023-02-07 between the Lessor, Walton-Humphrey, and Lessee, Torres Ltd. The subject of this agreement is the Retail property at 51324 Wendy Place, Suite 2446, Vegafort, Alabama 40605, comprising approximately 3,658 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 36 months, commencing on 2023-04-06 and concluding on 2026-04-05. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $2,464.00, payable on a monthly basis. A security deposit of $4,928.00 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.31% taking effect on 2024-04-05. Additional rents include Real Estate Taxes (Fixed annual contribution), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance; Landscaping and snow removal. The Lessee's duties include: Interior non-structural maintenance; Pest control within the unit; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Premises to be used solely for general office purposes.

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 notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-TOO-2023-965",
  "document_date": "2023-02-07",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Walton-Humphrey",
      "entity_address": "249 Trevor Land\nTinaside, KS 45289"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Torres Ltd"
    }
  ],
  "property_details": {
    "property_address": "51324 Wendy Place, Suite 2446, Vegafort, Alabama 40605",
    "square_footage": 3658,
    "property_type": "Retail",
    "unit_identifier": "Suite 2446"
  },
  "lease_term": {
    "start_date": "2023-04-06",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2026-04-05"
  },
  "financial_terms": {
    "base_rent_initial": 2464.0,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-04-05",
        "increase_value": 0.31,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-04-05",
        "increase_value": 6.93,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-04-05",
        "increase_value": 2.99,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-04-05",
        "increase_value": 6.21,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9826.2
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3217.13
      }
    ],
    "security_deposit_amount": 4928.0
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld."
  }
}