<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-SISTER-2023-709

This serves as a summary of the commercial lease executed on 2023-09-16 between the Lessor, Lopez-Love, and Lessee, Harper, Ellis and Tran. The subject of this agreement is the Office property at 740 Heather Well, Suite 2207, Johnmouth, Iowa 09312, comprising approximately 23,025 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 2024-02-22. 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 Market Rate.

Financial obligations begin with an initial base rent of $28,579.75, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 4.9 $/sf taking effect on 2025-02-21. Additional rents include Management Fee (Fixed annual contribution), Management Fee (Fixed annual contribution), Common Area Utilities (Pro-rata share (4%)), Management Fee (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement; Common area maintenance (CAM). The Lessee's duties include: Interior non-structural maintenance; Pest control within the unit; Janitorial services within leased premises; All utility payments for the 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. 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 notably absent in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of Michigan. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SISTER-2023-709",
  "document_date": "2023-09-16",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Lopez-Love",
      "entity_address": "154 Emily Springs\nDouglasmouth, NC 16788",
      "contact_person": "James Gordon"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Harper, Ellis and Tran"
    }
  ],
  "property_details": {
    "property_address": "740 Heather Well, Suite 2207, Johnmouth, Iowa 09312",
    "square_footage": 23025,
    "property_type": "Office",
    "unit_identifier": "Suite 2207"
  },
  "lease_term": {
    "start_date": "2024-02-22",
    "term_duration_months": 36,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 365,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 28579.75,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-02-21",
        "increase_value": 4.9,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-02-21",
        "increase_value": 7.55,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-02-21",
        "increase_value": 2.49,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-02-21",
        "increase_value": 0.77,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 4588.48
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (4%)"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7331.42
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Pest control within the unit",
      "Janitorial services within leased premises",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "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": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Michigan"
  }
}