<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-MEMBER-2022-774

This serves as a summary of the commercial lease executed on 2022-11-18 between the Lessor, Gibson-Barker, and Lessee, Ferrell-Gonzalez. The subject of this agreement is the Office property at 703 Joel Shoal Apt. 639, Suite 1860, Lake Angelamouth, Hawaii 91835, comprising approximately 24,817 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 2023-04-19. 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 CPI Adjustment.

Financial obligations begin with an initial base rent of $2,092.85, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 7.72% taking effect on 2024-04-18. Additional rents include Real Estate Taxes (Fixed annual contribution), Common Area Utilities (Pass-through), Management Fee (Pass-through), Management Fee (Pro-rata share (10%)).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; 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: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-MEMBER-2022-774",
  "document_date": "2022-11-18",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Gibson-Barker",
      "entity_address": "034 Ashley Stravenue Apt. 027\nPort Mirandaside, MT 30274",
      "contact_person": "Jennifer Martin"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Ferrell-Gonzalez",
      "entity_address": "754 Smith Cliff\nWest Carly, NC 09567"
    }
  ],
  "property_details": {
    "property_address": "703 Joel Shoal Apt. 639, Suite 1860, Lake Angelamouth, Hawaii 91835",
    "square_footage": 24817,
    "property_type": "Office",
    "unit_identifier": "Suite 1860"
  },
  "lease_term": {
    "start_date": "2023-04-19",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 2092.85,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-04-18",
        "increase_value": 7.72,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-04-18",
        "increase_value": 9.79,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-04-18",
        "increase_value": 1.05,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-04-18",
        "increase_value": 4.93,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3090.82
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 1185.37
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 4551.06
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (10%)",
        "estimated_annual_cost": 9671.7
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "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": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}