<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-OUT-2023-764

This serves as a summary of the commercial lease executed on 2023-10-06 between the Lessor, Harper, Smith and Gonzalez, and Lessee, Rollins-Nguyen. The subject of this agreement is the Industrial property at 22238 Matthew Forges Apt. 189, Suite 1047, West Luke, New York 28222, comprising approximately 4,711 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 84 months, commencing on 2023-12-16 and concluding on 2030-12-15. The tenant holds 2 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Market Rate.

Financial obligations begin with an initial base rent of $9,921.49, payable on a quarterly basis. A security deposit of $9,921.49 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.89 $/sf taking effect on 2024-12-15. Additional rents include Operating Expenses (CAM) (Fixed annual contribution), Insurance (Pro-rata share (6%)), Operating Expenses (CAM) (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: All utility payments for the premises; Pest control within the unit. 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.

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. Any potential disputes are to be resolved via Binding arbitration in Lake Ruth. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-OUT-2023-764",
  "document_date": "2023-10-06",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Harper, Smith and Gonzalez",
      "entity_address": "873 Ronald Knoll Suite 644\nEast Jennifer, ID 76593",
      "contact_person": "Jonathon Ramos"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Rollins-Nguyen",
      "entity_address": "7262 Santiago Manors Suite 940\nJillfort, SD 37050"
    }
  ],
  "property_details": {
    "property_address": "22238 Matthew Forges Apt. 189, Suite 1047, West Luke, New York 28222",
    "square_footage": 4711,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1047"
  },
  "lease_term": {
    "start_date": "2023-12-16",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-12-15"
  },
  "financial_terms": {
    "base_rent_initial": 9921.49,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-12-15",
        "increase_value": 1.89,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-12-15",
        "increase_value": 6.17,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-12-15",
        "increase_value": 9.7,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4093.66
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (6%)"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution"
      }
    ],
    "security_deposit_amount": 9921.49
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "All utility payments for the premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Binding arbitration in Lake Ruth"
  }
}