<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-HEART-2023-640

This serves as a summary of the commercial lease executed on 2023-05-15 between the Lessor, Orr, Callahan and Taylor, and Lessee, Peterson-Cooper. The subject of this agreement is the Industrial property at 8242 Garrett Ramp Apt. 117, Suite 1780, South Emilyfurt, Hawaii 40827, comprising approximately 24,754 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 120 months, commencing on 2023-08-15 and concluding on 2033-08-14. The tenant holds 1 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 365 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $6,861.01, payable on a quarterly basis. A security deposit of $13,722.02 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.26% taking effect on 2024-08-14. Additional rents include Common Area Utilities (Fixed annual contribution), Insurance (Pro-rata share (9%)), Management Fee (Fixed annual contribution), Common Area Utilities (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Pest control within the unit; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Premises to be used solely for general office purposes. No hazardous materials permitted on the premises without prior written consent.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is present 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-HEART-2023-640",
  "document_date": "2023-05-15",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Orr, Callahan and Taylor",
      "contact_person": "Jason Davis"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Peterson-Cooper",
      "entity_address": "02753 Li Alley\nNorth Kellystad, DE 33676"
    }
  ],
  "property_details": {
    "property_address": "8242 Garrett Ramp Apt. 117, Suite 1780, South Emilyfurt, Hawaii 40827",
    "square_footage": 24754,
    "property_type": "Industrial",
    "unit_identifier": "Suite 1780"
  },
  "lease_term": {
    "start_date": "2023-08-15",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2033-08-14"
  },
  "financial_terms": {
    "base_rent_initial": 6861.01,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-08-14",
        "increase_value": 3.26,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-14",
        "increase_value": 2.93,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9692.35
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 8341.25
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 2410.46
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 3569.49
      }
    ],
    "security_deposit_amount": 13722.02
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}