<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-ELSE-2022-197

This serves as a summary of the commercial lease executed on 2022-10-04 between the Lessor, Hernandez PLC, and Lessee, Johnston-Walker. The subject of this agreement is the Office property at 8704 Bobby Ferry Apt. 237, Suite 331, Leestad, Indiana 57674, comprising approximately 22,343 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 2023-03-26. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $3,485.66, payable on a annually basis. A security deposit of $6,971.32 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 5.65% taking effect on 2024-03-25. Additional rents include Common Area Utilities (Pass-through), Operating Expenses (CAM) (Pass-through), Real Estate Taxes (Pro-rata share (10%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises. 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: Permitted only to an affiliate entity with 30 days prior notice. 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-ELSE-2022-197",
  "document_date": "2022-10-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hernandez PLC",
      "entity_address": "00766 Cynthia Ranch Suite 218\nLake Bettyville, AZ 32477",
      "contact_person": "Katherine Knight"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Johnston-Walker",
      "entity_address": "5263 Rogers Neck\nSweeneyburgh, VA 64156"
    }
  ],
  "property_details": {
    "property_address": "8704 Bobby Ferry Apt. 237, Suite 331, Leestad, Indiana 57674",
    "square_footage": 22343,
    "property_type": "Office",
    "unit_identifier": "Suite 331"
  },
  "lease_term": {
    "start_date": "2023-03-26",
    "term_duration_months": 60,
    "renewal_options": []
  },
  "financial_terms": {
    "base_rent_initial": 3485.66,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-03-25",
        "increase_value": 5.65,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-03-25",
        "increase_value": 2.2,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-03-25",
        "increase_value": 8.95,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-03-25",
        "increase_value": 8.63,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4294.45
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (10%)",
        "estimated_annual_cost": 7353.05
      }
    ],
    "security_deposit_amount": 6971.32
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises"
    ]
  },
  "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": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}