<format type="json">{lease_id: string, parties: {lessor_details: {name: string, entity_type: string, address: string optional}, lessee_details: {name: string, entity_type: string, address: string optional}}, property_details: {address: string, property_type: string, square_footage_sqft: number optional, lease_area_description: string}, lease_terms: {effective_date: date, commencement_date: date, initial_term_months: number, option_to_renew: list[{option_number: number, duration_months: number, notice_period_days: number optional, renewal_rate_adjustment: string}], termination_clauses: list[{clause_type: string, notice_period_days: number, penalty_details: string}] optional, requires_landlord_consent_for_sublease: boolean}, financial_terms: {base_rent_details: {initial_monthly_rent_usd: number, annual_escalation_rate_percent: number, escalation_frequency: string}, additional_rent_components: list[{component_name: string, basis: string, estimated_monthly_amount_usd: number optional}], security_deposit_usd: number, late_payment_interest_rate_percent: number optional}, insurance_requirements: list[{coverage_type: string, minimum_coverage_amount_usd: number, named_insureds_required: list[string]}] optional, permitted_use: string, governing_law_state: string, document_status: string}</format> <data>INTERNAL MEMORANDUM - LEASE ABSTRACT

Reference ID: LSE-COM-2023-6481
Status: Amended
Governing Jurisdiction: Wisconsin

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Gutierrez-Dominguez Holdings, and the Tenant, Palmer, Hall and Case. The team is preparing for the quarterly portfolio review next month, so please ensure all financial models are updated with this data. The lease agreement was made effective as of 2023-09-24.

The subject of this lease concerns the Entire floor 9A in Building 1 at the property located at 8416 Susan View Apt. 919
North Michelle, FL 85756. This Office facility consists of the specified area and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2023-11-15, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $10,936.02. This figure is scheduled for an annual increase based on a 3.82% escalation rate. A security deposit of $10,936.02 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months with 180 days' prior notice. During any such renewal, the rent will be adjusted according to Greater of Fair Market Value or previous rent + 3%. Any potential sublease of the premises requires Landlord's explicit consent.

Per section 10.1, Palmer, Hall and Case is required to maintain, at minimum, a Commercial General Liability policy of $2,000,000. The certificate of insurance must name all parties as stipulated, including Gutierrez-Dominguez Holdings. Note the existence of a Co-tenancy Failure clause, which can be triggered with 60 days' notice and involves a penalty structured as 11 months' rent plus unamortized transaction costs.

Additional rent provisions for pass-throughs like Operating Expenses and Property Taxes are based on the tenant's pro rata share. Further details can be found in the full agreement document stored in the central repository. Please complete your review by end of week.</data>
{
  "lease_id": "LSE-COM-2023-6481",
  "parties": {
    "lessor_details": {
      "name": "Gutierrez-Dominguez Holdings",
      "entity_type": "Corporation",
      "address": "17123 Cox Court Suite 856\nGuzmanberg, NY 28839"
    },
    "lessee_details": {
      "name": "Palmer, Hall and Case",
      "entity_type": "Corporation",
      "address": "44414 Jody Junctions Apt. 252\nSouth Ronald, LA 07788"
    }
  },
  "property_details": {
    "address": "8416 Susan View Apt. 919\nNorth Michelle, FL 85756",
    "property_type": "Office",
    "lease_area_description": "Entire floor 9A in Building 1"
  },
  "lease_terms": {
    "effective_date": "2023-09-24",
    "commencement_date": "2023-11-15",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 180
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 180
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 60,
        "penalty_details": "11 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 10936.02,
      "annual_escalation_rate_percent": 3.82,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (17.59%)",
        "estimated_monthly_amount_usd": 1640.4
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (5.85%)",
        "estimated_monthly_amount_usd": 1093.6
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 10936.02
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Wisconsin",
  "document_status": "Amended",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 2000000,
      "named_insureds_required": [
        "Gutierrez-Dominguez Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Gutierrez-Dominguez Holdings",
        "Richardson, Drake and Pennington Mortgage Corp."
      ]
    }
  ]
}