<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-ELSE-2022-389

This serves as a summary of the commercial lease executed on 2022-10-15 between the Lessor, Johnston LLC, and Lessee, Flores-Ruiz. The subject of this agreement is the Office property at 52308 Turner Light, Suite 2307, East Jameston, Alabama 32960, comprising approximately 15,725 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 2022-10-20. The tenant holds 2 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 Market Rate.

Financial obligations begin with an initial base rent of $51,548.97, payable on a monthly basis. The lease includes a structured rent escalation schedule, with the first increase of 7.38% taking effect on 2023-10-20. Additional rents include Real Estate Taxes (Pro-rata share (15%)), Insurance (Pro-rata share (2%)), Operating Expenses (CAM) (Pro-rata share (13%)).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; HVAC system maintenance and replacement; Common area maintenance (CAM). The Lessee's duties include: 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: Requires prior written consent from Lessor, not to be unreasonably withheld. A force majeure clause is present in the agreement. Any potential disputes are to be resolved via Binding arbitration in Acostaview. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-ELSE-2022-389",
  "document_date": "2022-10-15",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Johnston LLC",
      "entity_address": "56114 Jason Orchard Apt. 457\nOlsenburgh, IL 07354",
      "contact_person": "Dennis Richardson"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Flores-Ruiz",
      "entity_address": "6452 Debra Plaza\nLake Jennifer, NE 85697"
    }
  ],
  "property_details": {
    "property_address": "52308 Turner Light, Suite 2307, East Jameston, Alabama 32960",
    "square_footage": 15725,
    "property_type": "Office",
    "unit_identifier": "Suite 2307"
  },
  "lease_term": {
    "start_date": "2022-10-20",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 36,
        "notice_period_days": 270,
        "rent_escalation_method": "Market Rate"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 51548.97,
    "rent_frequency": "monthly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2023-10-20",
        "increase_value": 7.38,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-10-19",
        "increase_value": 6.15,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2025-10-19",
        "increase_value": 7.96,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 3646.94
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Pro-rata share (2%)",
        "estimated_annual_cost": 8040.68
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (13%)",
        "estimated_annual_cost": 1300.26
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "HVAC system maintenance and replacement",
      "Common area maintenance (CAM)"
    ],
    "lessee_responsibilities": [
      "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": true,
    "sublease_assignment_terms": "Requires prior written consent from Lessor, not to be unreasonably withheld.",
    "dispute_resolution_method": "Binding arbitration in Acostaview"
  }
}