<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-AGREEMENT-2023-948

This serves as a summary of the commercial lease executed on 2023-10-30 between the Lessor, Powers, Middleton and Rodriguez, and Lessee, Peterson-Frank. The subject of this agreement is the Warehouse property at 6302 Karen Stream, Suite 1335, Padillaborough, Iowa 05336, comprising approximately 4,400 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 2024-02-13 and concluding on 2027-02-12. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $5,409.59, payable on a quarterly basis. A security deposit of $10,819.18 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 6.21 $/sf taking effect on 2025-02-12. Additional rents include Management Fee (Pass-through), Insurance (Fixed annual contribution), Common Area Utilities (Pass-through).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Parking lot maintenance. The Lessee's duties include: Interior non-structural maintenance; Janitorial services within leased premises; 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. Signage must be approved by Lessor. 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 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-AGREEMENT-2023-948",
  "document_date": "2023-10-30",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Powers, Middleton and Rodriguez",
      "contact_person": "Kathy Barnes"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Peterson-Frank",
      "entity_address": "8439 Melendez Knoll\nWest Andreaburgh, TN 02719"
    }
  ],
  "property_details": {
    "property_address": "6302 Karen Stream, Suite 1335, Padillaborough, Iowa 05336",
    "square_footage": 4400,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1335"
  },
  "lease_term": {
    "start_date": "2024-02-13",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2027-02-12"
  },
  "financial_terms": {
    "base_rent_initial": 5409.59,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-02-12",
        "increase_value": 6.21,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-02-12",
        "increase_value": 1.86,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-02-12",
        "increase_value": 2.49,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 6121.24
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 1279.96
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9964.47
      }
    ],
    "security_deposit_amount": 10819.18
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}