<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-AWAY-2024-224

This serves as a summary of the commercial lease executed on 2024-04-21 between the Lessor, Hill and Sons, and Lessee, Garcia-Martinez. The subject of this agreement is the Medical Office property at 209 Nielsen Center Suite 238, Suite 1752, West Phillipshire, Texas 65938, comprising approximately 11,151 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 2024-07-19 and concluding on 2030-07-19. The tenant holds 1 option(s) to renew, with the first being for a 36-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on Fixed Percentage.

Financial obligations begin with an initial base rent of $99,810.27, payable on a quarterly basis. A security deposit of $99,810.27 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 1.42% taking effect on 2025-07-19. Additional rents include Common Area Utilities (Pass-through), Common Area Utilities (Pass-through), Insurance (Fixed annual contribution), Insurance (Pro-rata share (2%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Parking lot maintenance; HVAC system maintenance and replacement. The Lessee's duties include: Interior non-structural maintenance; 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: 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 notably absent in the agreement. Any potential disputes are to be resolved via Binding arbitration in Port Jamieview. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-AWAY-2024-224",
  "document_date": "2024-04-21",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Hill and Sons",
      "entity_address": "215 Patricia Harbor Apt. 582\nWest Meagan, CO 04597",
      "contact_person": "Lisa Martin"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Garcia-Martinez",
      "entity_address": "186 Snyder Shoal Suite 271\nMaryfort, ND 06495"
    }
  ],
  "property_details": {
    "property_address": "209 Nielsen Center Suite 238, Suite 1752, West Phillipshire, Texas 65938",
    "square_footage": 11151,
    "property_type": "Medical Office"
  },
  "lease_term": {
    "start_date": "2024-07-19",
    "term_duration_months": 72,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2030-07-19"
  },
  "financial_terms": {
    "base_rent_initial": 99810.27,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-07-19",
        "increase_value": 1.42,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2026-07-19",
        "increase_value": 9.51,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2027-07-19",
        "increase_value": 3.98,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 9560.99
      },
      {
        "component_name": "Common Area Utilities",
        "payment_structure": "Pass-through"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 7469.7
      }
    ],
    "security_deposit_amount": 99810.27
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Parking lot maintenance",
      "HVAC system maintenance and replacement"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Janitorial services within leased premises",
      "Pest control within the unit",
      "All utility payments for the premises"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "No structural alterations without Lessor approval."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Binding arbitration in Port Jamieview"
  }
}