<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-EAST-2024-519

This serves as a summary of the commercial lease executed on 2024-02-28 between the Lessor, Owens, Hess and Neal, and Lessee, Lopez-James. The subject of this agreement is the Retail property at 4102 Pamela Brooks Suite 935, Suite 784, Masonshire, Oklahoma 21004, comprising approximately 13,303 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 2024-05-19. The tenant holds 1 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 Fixed Percentage.

Financial obligations begin with an initial base rent of $67,589.63, payable on a monthly basis. A security deposit of $135,179.26 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.3 $/sf taking effect on 2025-05-19. Additional rents include Insurance (Fixed annual contribution), Management Fee (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: Pest control within the unit; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Business operations restricted to 8:00 AM to 10:00 PM. Signage must be approved by Lessor.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Jonathanport. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-EAST-2024-519",
  "document_date": "2024-02-28",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Owens, Hess and Neal",
      "entity_address": "283 Wilson Spurs Suite 892\nPerryton, TN 64200"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Lopez-James",
      "entity_address": "5094 Cynthia Mountain Suite 225\nEast Markmouth, ID 93236"
    }
  ],
  "property_details": {
    "property_address": "4102 Pamela Brooks Suite 935, Suite 784, Masonshire, Oklahoma 21004",
    "square_footage": 13303,
    "property_type": "Retail",
    "unit_identifier": "Suite 784"
  },
  "lease_term": {
    "start_date": "2024-05-19",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 67589.63,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-05-19",
        "increase_value": 3.3,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-05-19",
        "increase_value": 9.28,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-05-19",
        "increase_value": 9.97,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4590.67
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      }
    ],
    "security_deposit_amount": 135179.26
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in Jonathanport"
  }
}