<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-SAVE-2023-539

This serves as a summary of the commercial lease executed on 2023-03-01 between the Lessor, Oliver-Vasquez, and Lessee, Smith and Sons. The subject of this agreement is the Retail property at 488 Jennings Prairie Suite 698, Suite 885, Davisville, Indiana 51327, comprising approximately 7,666 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 72 months, commencing on 2023-05-11 and concluding on 2029-05-10. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $96,826.27, payable on a quarterly basis. A security deposit of $96,826.27 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 7.28 $/sf taking effect on 2024-05-10. Additional rents include Real Estate Taxes (Pro-rata share (5%)), Common Area Utilities (Pro-rata share (13%)), Operating Expenses (CAM) (Pro-rata share (14%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement. The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. 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: 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-SAVE-2023-539",
  "document_date": "2023-03-01",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Oliver-Vasquez",
      "entity_address": "75467 Carlson Harbors\nPort Brucechester, WY 32537",
      "contact_person": "Wayne Hall"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Smith and Sons"
    }
  ],
  "property_details": {
    "property_address": "488 Jennings Prairie Suite 698, Suite 885, Davisville, Indiana 51327",
    "square_footage": 7666,
    "property_type": "Retail",
    "unit_identifier": "Suite 885"
  },
  "lease_term": {
    "start_date": "2023-05-11",
    "term_duration_months": 72,
    "renewal_options": [],
    "end_date": "2029-05-10"
  },
  "financial_terms": {
    "base_rent_initial": 96826.27,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-05-10",
        "increase_value": 7.28,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-05-10",
        "increase_value": 4.0,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-05-10",
        "increase_value": 5.21,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 1622.45
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 1348.9
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (14%)"
      }
    ],
    "security_deposit_amount": 96826.27
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor.",
    "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."
  }
}