<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-GAME-2024-491

This serves as a summary of the commercial lease executed on 2024-05-04 between the Lessor, Stephens-Stevens, and Lessee, Gibson, Jones and Patel. The subject of this agreement is the Office property at 34175 Griffin Village, Suite 828, Masseyfort, Oregon 77422, comprising approximately 14,824 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 84 months, commencing on 2024-06-29 and concluding on 2031-06-29. 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 Market Rate.

Financial obligations begin with an initial base rent of $8,112.93, payable on a monthly basis. A security deposit of $8,112.93 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 8.78 $/sf taking effect on 2025-06-29. Additional rents include Common Area Utilities (Pro-rata share (4%)), Management Fee (Pro-rata share (8%)), Operating Expenses (CAM) (Pass-through), Common Area Utilities (Pro-rata share (15%)).

Regarding property maintenance, the Lessor is responsible for: Parking lot maintenance; Landscaping and snow removal; Structural repairs to building exterior and roof. The Lessee's duties include: Interior non-structural maintenance; Minor repairs to plumbing and electrical; Pest control within the unit; Janitorial services within leased premises. Use of the premises is specifically limited. Key restrictions include: Business operations restricted to 8:00 AM to 10:00 PM. No structural alterations without Lessor approval.

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 present in the agreement. Any potential disputes are to be resolved via Binding arbitration in West Cynthiaberg. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-GAME-2024-491",
  "document_date": "2024-05-04",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Stephens-Stevens"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Gibson, Jones and Patel"
    }
  ],
  "property_details": {
    "property_address": "34175 Griffin Village, Suite 828, Masseyfort, Oregon 77422",
    "square_footage": 14824,
    "property_type": "Office",
    "unit_identifier": "Suite 828"
  },
  "lease_term": {
    "start_date": "2024-06-29",
    "term_duration_months": 84,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      }
    ],
    "end_date": "2031-06-29"
  },
  "financial_terms": {
    "base_rent_initial": 8112.93,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-06-29",
        "increase_value": 8.78,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-06-29",
        "increase_value": 5.06,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2027-06-29",
        "increase_value": 9.38,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2028-06-28",
        "increase_value": 3.02,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (4%)"
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (8%)"
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9398.13
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 2537.09
      }
    ],
    "security_deposit_amount": 8112.93
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Parking lot maintenance",
      "Landscaping and snow removal",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "Pest control within the unit",
      "Janitorial services within leased premises"
    ]
  },
  "use_restrictions": [
    "Business operations restricted to 8:00 AM to 10:00 PM.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice.",
    "dispute_resolution_method": "Binding arbitration in West Cynthiaberg"
  }
}