<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-DETAIL-2023-464

This serves as a summary of the commercial lease executed on 2023-03-16 between the Lessor, Todd, Walker and Rivera, and Lessee, Owen-Moore. The subject of this agreement is the Medical Office property at 1439 Roy Rapid, Suite 2042, Robertstad, Oklahoma 38119, comprising approximately 5,745 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 2023-07-03 and concluding on 2026-07-02. The tenant holds 2 option(s) to renew, with the first being for a 36-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 $1,096.68, payable on a annually basis. The lease includes a structured rent escalation schedule, with the first increase of 1.7% taking effect on 2024-07-02. Additional rents include Management Fee (Pass-through), Operating Expenses (CAM) (Pass-through), Insurance (Fixed annual contribution).

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; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. No structural alterations without Lessor approval. Business operations restricted to 8:00 AM to 10:00 PM.

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 South Kelly. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-DETAIL-2023-464",
  "document_date": "2023-03-16",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Todd, Walker and Rivera",
      "entity_address": "662 Thompson Overpass Apt. 283\nBradshawmouth, OH 89686",
      "contact_person": "Angela Patton"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Owen-Moore",
      "entity_address": "24194 Matthew Rue Apt. 896\nLake Erika, MH 75131"
    }
  ],
  "property_details": {
    "property_address": "1439 Roy Rapid, Suite 2042, Robertstad, Oklahoma 38119",
    "square_footage": 5745,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 2042"
  },
  "lease_term": {
    "start_date": "2023-07-03",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2026-07-02"
  },
  "financial_terms": {
    "base_rent_initial": 1096.68,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-07-02",
        "increase_value": 1.7,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-07-02",
        "increase_value": 1.59,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-07-02",
        "increase_value": 0.48,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4776.29
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7784.88
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "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 South Kelly"
  }
}