<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-MACHINE-2022-748

This serves as a summary of the commercial lease executed on 2022-11-29 between the Lessor, Simpson-Armstrong, and Lessee, Lynn-Hobbs. The subject of this agreement is the Office property at 682 Dawn Trafficway Suite 325, Suite 951, West Katie, Texas 43372, comprising approximately 21,382 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 2022-12-26 and concluding on 2025-12-25. The tenant holds 1 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $8,097.84, payable on a quarterly basis. A security deposit of $8,097.84 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 2.11 $/sf taking effect on 2023-12-26. Additional rents include Common Area Utilities (Pass-through), Real Estate Taxes (Pro-rata share (3%)), Common Area Utilities (Pro-rata share (12%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Structural repairs to building exterior and roof; HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; Minor repairs to plumbing and electrical; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. Premises to be used solely for general office purposes.

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 present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-MACHINE-2022-748",
  "document_date": "2022-11-29",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Simpson-Armstrong",
      "entity_address": "92466 Brian Hill\nHillmouth, MO 34670",
      "contact_person": "Chelsea White"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Lynn-Hobbs",
      "entity_address": "07224 Tracy Inlet\nNorth Markmouth, GA 96112"
    }
  ],
  "property_details": {
    "property_address": "682 Dawn Trafficway Suite 325, Suite 951, West Katie, Texas 43372",
    "square_footage": 21382,
    "property_type": "Office",
    "unit_identifier": "Suite 951"
  },
  "lease_term": {
    "start_date": "2022-12-26",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2025-12-25"
  },
  "financial_terms": {
    "base_rent_initial": 8097.84,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2023-12-26",
        "increase_value": 2.11,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-12-25",
        "increase_value": 6.46,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-12-25",
        "increase_value": 4.0,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-12-25",
        "increase_value": 7.42,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 3517.5
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (3%)",
        "estimated_annual_cost": 9541.21
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (12%)",
        "estimated_annual_cost": 4710.37
      }
    ],
    "security_deposit_amount": 8097.84
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}