<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-SUCCESS-2023-160

This serves as a summary of the commercial lease executed on 2023-06-30 between the Lessor, Lindsey and Sons, and Lessee, Miller, Gonzales and Key. The subject of this agreement is the Retail property at 386 Douglas Fields Apt. 002, Suite 1955, South Beth, Michigan 38395, comprising approximately 22,514 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 2023-07-10 and concluding on 2026-07-09. 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $7,827.90, payable on a monthly basis. A security deposit of $15,655.80 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.66% taking effect on 2024-07-09. Additional rents include Operating Expenses (CAM) (Pro-rata share (7%)), Real Estate Taxes (Pro-rata share (2%)), Real Estate Taxes (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Structural repairs to building exterior and roof; Common area maintenance (CAM). The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit; Interior non-structural maintenance; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor.

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 Binding arbitration in Whitemouth. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SUCCESS-2023-160",
  "document_date": "2023-06-30",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Lindsey and Sons",
      "contact_person": "Kenneth Jackson"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Miller, Gonzales and Key"
    }
  ],
  "property_details": {
    "property_address": "386 Douglas Fields Apt. 002, Suite 1955, South Beth, Michigan 38395",
    "square_footage": 22514,
    "property_type": "Retail",
    "unit_identifier": "Suite 1955"
  },
  "lease_term": {
    "start_date": "2023-07-10",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2026-07-09"
  },
  "financial_terms": {
    "base_rent_initial": 7827.9,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-07-09",
        "increase_value": 2.66,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-07-09",
        "increase_value": 6.92,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-07-09",
        "increase_value": 2.98,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 7807.68
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 4307.04
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6372.21
      }
    ],
    "security_deposit_amount": 15655.8
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in Whitemouth"
  }
}