<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-FLY-2023-622

This serves as a summary of the commercial lease executed on 2023-01-17 between the Lessor, Brown, Freeman and Williams, and Lessee, Alexander-Ortiz. The subject of this agreement is the Office property at 442 Payne Rapids Apt. 106, Suite 585, North Todd, Tennessee 44140, comprising approximately 9,226 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 72 months, commencing on 2023-07-13 and concluding on 2029-07-12. The tenant holds 1 option(s) to renew, with the first being for a 60-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 $39,395.83, payable on a quarterly basis. A security deposit of $39,395.83 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 9.76 $/sf taking effect on 2024-07-12. Additional rents include Common Area Utilities (Fixed annual contribution), Common Area Utilities (Pass-through), Real Estate Taxes (Pro-rata share (9%)), Common Area Utilities (Pro-rata share (15%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Common area maintenance (CAM); HVAC system maintenance and replacement. The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit; All utility payments for the premises. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Premises to be used solely for general office purposes. Business operations restricted to 8:00 AM to 10:00 PM.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted, subject to Lessor's right of first refusal and a profit-sharing clause. A force majeure clause is notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-FLY-2023-622",
  "document_date": "2023-01-17",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Brown, Freeman and Williams",
      "entity_address": "20093 White Corners Apt. 523\nDonaldville, AL 26870"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Alexander-Ortiz",
      "entity_address": "327 Riddle Harbor Apt. 216\nJulieton, VI 68982"
    }
  ],
  "property_details": {
    "property_address": "442 Payne Rapids Apt. 106, Suite 585, North Todd, Tennessee 44140",
    "square_footage": 9226,
    "property_type": "Office",
    "unit_identifier": "Suite 585"
  },
  "lease_term": {
    "start_date": "2023-07-13",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2029-07-12"
  },
  "financial_terms": {
    "base_rent_initial": 39395.83,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-07-12",
        "increase_value": 9.76,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-07-12",
        "increase_value": 2.11,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 9274.82
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 7736.23
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (9%)",
        "estimated_annual_cost": 4208.4
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 8880.33
      }
    ],
    "security_deposit_amount": 39395.83
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Common area maintenance (CAM)",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Premises to be used solely for general office purposes.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}