<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-IT-2023-296

This serves as a summary of the commercial lease executed on 2023-12-02 between the Lessor, Lee PLC, and Lessee, Hodge-Ross. The subject of this agreement is the Warehouse property at 40125 David Wall Suite 335, Suite 185, Maxwellfort, Oklahoma 74665, comprising approximately 12,362 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 36 months, commencing on 2023-12-22 and concluding on 2026-12-21. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $35,673.99, payable on a quarterly basis. The lease includes a structured rent escalation schedule, with the first increase of 7.13 $/sf taking effect on 2024-12-21. Additional rents include Management Fee (Pro-rata share (7%)), Operating Expenses (CAM) (Pro-rata share (10%)), Operating Expenses (CAM) (Fixed annual contribution).

Regarding property maintenance, the Lessor is responsible for: HVAC system maintenance and replacement; Structural repairs to building exterior and roof; Parking lot maintenance. The Lessee's duties include: Janitorial services within leased premises; Pest control within the unit. Use of the premises is specifically limited. Key restrictions include: Signage must be approved by Lessor. Business operations restricted to 8:00 AM to 10:00 PM.

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 present in the agreement. Any potential disputes are to be resolved via Mediation followed by litigation in the State of New Jersey. Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-IT-2023-296",
  "document_date": "2023-12-02",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "Lee PLC",
      "entity_address": "1399 Michelle Mews\nLake Tracyberg, MP 75115",
      "contact_person": "Steven Mejia"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hodge-Ross",
      "entity_address": "0420 Tammie Key\nWest Gary, KS 51155"
    }
  ],
  "property_details": {
    "property_address": "40125 David Wall Suite 335, Suite 185, Maxwellfort, Oklahoma 74665",
    "square_footage": 12362,
    "property_type": "Warehouse",
    "unit_identifier": "Suite 185"
  },
  "lease_term": {
    "start_date": "2023-12-22",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2026-12-21"
  },
  "financial_terms": {
    "base_rent_initial": 35673.99,
    "rent_frequency": "quarterly",
    "escalation_schedule": [
      {
        "escalation_type": "Step-Up",
        "effective_date": "2024-12-21",
        "increase_value": 7.13,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-12-21",
        "increase_value": 1.44,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Management Fee",
        "payment_structure": "Pro-rata share (7%)",
        "estimated_annual_cost": 1042.36
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (10%)",
        "estimated_annual_cost": 2654.61
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7650.99
      }
    ]
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "HVAC system maintenance and replacement",
      "Structural repairs to building exterior and roof",
      "Parking lot maintenance"
    ],
    "lessee_responsibilities": [
      "Janitorial services within leased premises",
      "Pest control within the unit"
    ]
  },
  "use_restrictions": [
    "Signage must be approved by Lessor.",
    "Business operations restricted to 8:00 AM to 10:00 PM."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": true,
    "sublease_assignment_terms": "Permitted, subject to Lessor's right of first refusal and a profit-sharing clause.",
    "dispute_resolution_method": "Mediation followed by litigation in the State of New Jersey"
  }
}