<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-MR-2023-235

This serves as a summary of the commercial lease executed on 2023-11-20 between the Lessor, West-Ortega, and Lessee, Hernandez PLC. The subject of this agreement is the Medical Office property at 793 Sharon Forge Suite 040, Suite 1507, Clarkemouth, Oklahoma 08933, comprising approximately 22,800 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 2024-01-08 and concluding on 2027-01-07. No renewal options were specified in the agreement.

Financial obligations begin with an initial base rent of $5,187.81, payable on a annually basis. A security deposit of $5,187.81 has been secured. The lease includes a structured rent escalation schedule, with the first increase of 4.35 $/sf taking effect on 2025-01-07. Additional rents include Operating Expenses (CAM) (Pro-rata share (5%)), Operating Expenses (CAM) (Pro-rata share (15%)), Insurance (Fixed annual contribution), Real Estate Taxes (Pass-through).

Regarding property maintenance, the Lessor is responsible for: Landscaping and snow removal; Common area maintenance (CAM); Structural repairs to building exterior and roof. The Lessee's duties include: Pest control within the unit; 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: Premises to be used solely for general office purposes. No hazardous materials permitted on the premises without prior written consent. Signage must be approved by Lessor.

From a legal perspective, the terms regarding subleasing or assignment are as follows: Permitted only to an affiliate entity with 30 days prior notice. A force majeure clause is notably absent in the agreement.  Please review this abstract against your portfolio records and advise of any discrepancies.</data>
{
  "agreement_id": "LEASE-MR-2023-235",
  "document_date": "2023-11-20",
  "lease_parties": [
    {
      "party_type": "Lessor",
      "entity_name": "West-Ortega",
      "entity_address": "538 Weeks Road\nWilliamschester, WI 97508"
    },
    {
      "party_type": "Lessee",
      "entity_name": "Hernandez PLC",
      "entity_address": "49413 Carolyn Villages\nOwensport, GU 56783"
    }
  ],
  "property_details": {
    "property_address": "793 Sharon Forge Suite 040, Suite 1507, Clarkemouth, Oklahoma 08933",
    "square_footage": 22800,
    "property_type": "Medical Office",
    "unit_identifier": "Suite 1507"
  },
  "lease_term": {
    "start_date": "2024-01-08",
    "term_duration_months": 36,
    "renewal_options": [],
    "end_date": "2027-01-07"
  },
  "financial_terms": {
    "base_rent_initial": 5187.81,
    "rent_frequency": "annually",
    "escalation_schedule": [
      {
        "escalation_type": "CPI-U Adjustment",
        "effective_date": "2025-01-07",
        "increase_value": 4.35,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2026-01-07",
        "increase_value": 3.41,
        "increase_unit": "dollar_per_sqft"
      },
      {
        "escalation_type": "Annual Fixed",
        "effective_date": "2027-01-07",
        "increase_value": 1.84,
        "increase_unit": "percentage"
      }
    ],
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (5%)",
        "estimated_annual_cost": 8343.38
      },
      {
        "component_name": "Operating Expenses (CAM)",
        "payment_structure": "Pro-rata share (15%)",
        "estimated_annual_cost": 8603.98
      },
      {
        "component_name": "Insurance",
        "payment_structure": "Fixed annual contribution",
        "estimated_annual_cost": 7172.8
      },
      {
        "component_name": "Real Estate Taxes",
        "payment_structure": "Pass-through",
        "estimated_annual_cost": 8293.71
      }
    ],
    "security_deposit_amount": 5187.81
  },
  "maintenance_obligations": {
    "lessor_responsibilities": [
      "Landscaping and snow removal",
      "Common area maintenance (CAM)",
      "Structural repairs to building exterior and roof"
    ],
    "lessee_responsibilities": [
      "Pest control within the unit",
      "All utility payments for the premises",
      "Minor repairs to plumbing and electrical",
      "Interior non-structural maintenance"
    ]
  },
  "use_restrictions": [
    "Premises to be used solely for general office purposes.",
    "No hazardous materials permitted on the premises without prior written consent.",
    "Signage must be approved by Lessor."
  ],
  "legal_provisions": {
    "force_majeure_clause_present": false,
    "sublease_assignment_terms": "Permitted only to an affiliate entity with 30 days prior notice."
  }
}