<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-SENIOR-2023-677

This serves as a summary of the commercial lease executed on 2023-12-30 between the Lessor, Harrison-Farrell, and Lessee, Olsen-Dixon. The subject of this agreement is the Warehouse property at 8445 Davis Villages, Suite 1085, Chavezstad, Kentucky 44849, comprising approximately 4,833 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 2024-05-13 and concluding on 2034-05-13. 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 $98,028.79, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 6.42 $/sf taking effect on 2025-05-13. Additional rents include Management Fee (Pro-rata share (8%)), Common Area Utilities (Pro-rata share (7%)), Insurance (Pro-rata share (9%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Pest control within the unit; Interior non-structural maintenance; Minor repairs to plumbing and electrical; 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. Premises to be used solely for general office purposes.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted only to an affiliate entity with 30 days prior notice. 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 Oregon. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-SENIOR-2023-677",
  "document_date": "2023-12-30",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Harrison-Farrell",
      "entity_address": "0836 Perkins Burgs\nWest John, CA 65190"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Olsen-Dixon",
      "entity_address": "05904 Cochran Knoll\nGeraldbury, DE 82240"
    }
  ],
  "property_details": {
    "property_address": "8445 Davis Villages, Suite 1085, Chavezstad, Kentucky 44849",
    "square_footage": 4833,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 1085"
  },
  "lease_term": {
    "start_date": "2024-05-13",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 365,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2034-05-13"
  },
  "financial_terms": {
    "base_rent_initial": 98028.79,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-05-13",
        "increase_value": 6.42,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-05-13",
        "increase_value": 2.39,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (8%)"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (7%)"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (9%)"
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "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.",
    "Premises to be used solely for general office purposes."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of Oregon"
  }
}