<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-GENERAL-2023-677

This serves as a summary of the commercial lease executed on 2023-12-19 between the Lessor, Ho, Elliott and Finley, and Lessee, Lozano, Miller and Martinez. The subject of this agreement is the Medical Office property at 648 Kathryn Forge, Suite 338, West Marieborough, Washington 82517, comprising approximately 12,112 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 2024-05-03 and concluding on 2031-05-03. The tenant holds 2 option(s) to renew, with the first being for a 36-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 $1,440.68, payable on a quarterly basis. A security deposit of $1,440.68 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 0.36% taking effect on 2025-05-03. Additional rents include Real Estate Taxes (Pro-rata share (8%)), Operating Expenses (CAM) (Pass-through), Common Area Utilities (Pass-through), Operating Expenses (CAM) (Pass-through).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Landscaping and snow removal; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; All utility payments for the premises; Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: 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: Strictly prohibited under all circumstances. 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-GENERAL-2023-677",
  "document_date": "2023-12-19",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Ho, Elliott and Finley",
      "entity_address": "USCGC Davidson\nFPO AP 18184"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Lozano, Miller and Martinez",
      "entity_address": "93930 William Lodge Suite 782\nKennedyfurt, MI 98779"
    }
  ],
  "property_details": {
    "property_address": "648 Kathryn Forge, Suite 338, West Marieborough, Washington 82517",
    "square_footage": 12112,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 338"
  },
  "lease_term": {
    "start_date": "2024-05-03",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      }
    ],
    "end_date": "2031-05-03"
  },
  "financial_terms": {
    "base_rent_initial": 1440.68,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-05-03",
        "increase_value": 0.36,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-05-03",
        "increase_value": 4.6,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (8%)",
        "estimated_annual_cost": 4305.31
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through"
      }
    ],
    "security_deposit_amount": 1440.68
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "All utility payments for the premises",
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances."
  }
}