<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-THERE-2023-385

This serves as a summary of the commercial lease executed on 2023-11-28 between the Lessor, Cruz, Smith and Patterson, and Lessee, Butler, Brooks and Bowers. The subject of this agreement is the Retail property at 580 Palmer Mount, Suite 2152, Darrenberg, New Mexico 54897, comprising approximately 9,900 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 2023-12-27. 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 $2,175.46, payable on a annually basis. A security deposit of $2,175.46 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.8% taking effect on 2024-12-26. Additional rents include Insurance (Fixed annual contribution), Real Estate Taxes (Pro-rata share (10%)).

Regarding property maintenance, the Lessor is responsible for: Common area maintenance (CAM); Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; All utility payments for the premises; Minor repairs to plumbing and electrical; Interior non-structural maintenance. Use of the premises is specifically limited. Key restrictions include: No structural alterations without Lessor approval. Signage must be approved by Lessor.

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 Binding arbitration in Lake Seth. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-THERE-2023-385",
  "document_date": "2023-11-28",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Cruz, Smith and Patterson",
      "entity_address": "1597 Vicki Shores Apt. 792\nNorth Robertfort, ND 75722",
      "contact_person": "Jeffery Gordon"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Butler, Brooks and Bowers",
      "entity_address": "745 Erin Spring Suite 536\nLivingstonport, FM 30956"
    }
  ],
  "property_details": {
    "property_address": "580 Palmer Mount, Suite 2152, Darrenberg, New Mexico 54897",
    "square_footage": 9900,
    "property_type": "Retail",
    "unit_identifier": "Suite 2152"
  },
  "lease_term": {
    "start_date": "2023-12-27",
    "term_duration_months": 120,
    "renewal_options": [
      {
        "option_number": 1,
        "renewal_period_months": 60,
        "notice_period_days": 180,
        "rent_escalation_method": "CPI Adjustment"
      },
      {
        "option_number": 2,
        "renewal_period_months": 24,
        "notice_period_days": 180,
        "rent_escalation_method": "Fixed Percentage"
      }
    ]
  },
  "financial_terms": {
    "base_rent_initial": 2175.46,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-12-26",
        "increase_value": 4.8,
        "increase_unit": "percentage"
      },
      {
        "escalation_type": "Step-Up",
        "effective_date": "2025-12-26",
        "increase_value": 6.29,
        "increase_unit": "dollar_per_sqft"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution"
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pro-rata share (10%)"
      }
    ],
    "security_deposit_amount": 2175.46
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Common area maintenance (CAM)",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "No structural alterations without Lessor approval.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Strictly prohibited under all circumstances.",
    "dispute_resolution_method": "Binding arbitration in Lake Seth"
  }
}