<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-USUALLY-2023-127

This serves as a summary of the commercial lease executed on 2023-07-11 between the Lessor, Flynn-Evans, and Lessee, Allison and Sons. The subject of this agreement is the Office property at 576 Boyer Knoll, Suite 1692, Michaelville, Arizona 38454, comprising approximately 13,705 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 2023-08-11. The tenant holds 2 option(s) to renew, with the first being for a 60-month extension. To exercise this, a notice period of 180 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $5,376.61, payable on a monthly basis. A security deposit of $10,753.22 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 3.12% taking effect on 2024-08-10. Additional rents include Management Fee (Fixed annual contribution), Management Fee (Pass-through), Common Area Utilities (Pro-rata share (6%)).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Landscaping and snow removal; Parking lot maintenance. The Lessee's duties include: Minor repairs to plumbing and electrical; Janitorial services within leased premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor. No structural alterations without Lessor approval.

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 present in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-USUALLY-2023-127",
  "document_date": "2023-07-11",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Flynn-Evans",
      "entity_address": "958 Gray Track Apt. 899\nEast Anthony, VT 60842",
      "contact_person": "Lisa Myers"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Allison and Sons",
      "entity_address": "475 Becker Springs\nBrewerville, OH 47539"
    }
  ],
  "property_details": {
    "property_address": "576 Boyer Knoll, Suite 1692, Michaelville, Arizona 38454",
    "square_footage": 13705,
    "property_type": "Office",
    "unit_identifier": "Suite 1692"
  },
  "lease_term": {
    "start_date": "2023-08-11",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 5376.61,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2024-08-10",
        "increase_value": 3.12,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-08-10",
        "increase_value": 5.5,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-08-10",
        "increase_value": 9.9,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (6%)",
        "estimated_annual_cost": 8576.22
      }
    ],
    "security_deposit_amount": 10753.22
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Landscaping and snow removal",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause."
  }
}