<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-CENTRAL-2023-462

This serves as a summary of the commercial lease executed on 2023-08-06 between the Lessor, Gomez, Tate and Bishop, and Lessee, Owens-Allison. The subject of this agreement is the Retail property at 184 Rebecca Bypass Suite 249, Suite 288, New Todd, South Dakota 37584, comprising approximately 19,380 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 60 months, commencing on 2023-10-06 and concluding on 2028-10-05. The tenant holds 2 option(s) to renew, with the first being for a 24-month extension. To exercise this, a notice period of 270 days is required, with rent adjustment based on CPI Adjustment.

Financial obligations begin with an initial base rent of $62,318.50, payable on a quarterly basis. A security deposit of $62,318.50 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 5.31 $/sf taking effect on 2024-10-05. Additional rents include Management Fee (Pro-rata share (11%)), Management Fee (Fixed annual contribution), Real Estate Taxes (Pass-through), Insurance (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Landscaping and snow removal. The Lessee's duties include: Interior non-structural maintenance; 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 structural alterations without Lessor approval. Business operations restricted to 8:00 AM to 10:00 PM.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Strictly prohibited under all circumstances. A force majeure clause is notably absent in the agreement. Any potential disputes are to be resolved via Litigation in the jurisdiction of the property location.. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-CENTRAL-2023-462",
  "document_date": "2023-08-06",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Gomez, Tate and Bishop",
      "entity_address": "93925 Mackenzie Garden Suite 551\nNewmanburgh, RI 37027",
      "contact_person": "Carolyn Schwartz"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Owens-Allison",
      "entity_address": "53932 Lawson Locks Suite 037\nNorth Laurie, ME 92905"
    }
  ],
  "property_details": {
    "property_address": "184 Rebecca Bypass Suite 249, Suite 288, New Todd, South Dakota 37584",
    "square_footage": 19380,
    "property_type": "Retail",
    "unit_identifier": "Suite 288"
  },
  "lease_term": {
    "start_date": "2023-10-06",
    "term_duration_months": 60,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 270,
        "rent_escalation_method": "Fixed Percentage"
      }
    ],
    "end_date": "2028-10-05"
  },
  "financial_terms": {
    "base_rent_initial": 62318.5,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2024-10-05",
        "increase_value": 5.31,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-10-05",
        "increase_value": 8.97,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2026-10-05",
        "increase_value": 3.1,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (11%)",
        "estimated_annual_cost": 5939.46
      },
      {
        "component_name": "Management Fee",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 5230.49
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 2661.47
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8934.78
      }
    ],
    "security_deposit_amount": 62318.5
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Landscaping and snow removal"
    ],
    "lessee_responsibilities": [
      "Interior non-structural maintenance",
      "Minor repairs to plumbing and electrical",
      "Janitorial services within leased premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Litigation in the jurisdiction of the property location."
  }
}