<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-2024-5533
Status: Amended
Governing Jurisdiction: West Virginia

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Fleming, Black and Harris Inc., and the Tenant, Becker, Hamilton and Jarvis. 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 2024-06-28.

The subject of this lease concerns the Entire suite 4 in Building 8 at the property located at 5381 Walters Canyon
West Brianview, CO 76717. 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 2024-09-10, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $171,014.38. This figure is scheduled for an annual increase based on a 1.5% escalation rate. A security deposit of $342,028.76 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 270 days' prior notice. During any such renewal, the rent will be adjusted according to CPI-U Adjustment, not to exceed 4%. Any potential sublease of the premises is permitted subject to standard conditions.

Late payments of rent will accrue interest at a rate of 14.5% per annum. 

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-2024-5533",
  "parties": {
    "lessor_details": {
      "name": "Fleming, Black and Harris Inc.",
      "entity_type": "LLC",
      "address": "144 Dylan Plaza Suite 807\nBennettland, OR 32909"
    },
    "lessee_details": {
      "name": "Becker, Hamilton and Jarvis",
      "entity_type": "LLC",
      "address": "25257 Allen Mill\nAndrebury, NJ 04082"
    }
  },
  "property_details": {
    "address": "5381 Walters Canyon\nWest Brianview, CO 76717",
    "property_type": "Office",
    "lease_area_description": "Entire suite 4 in Building 8"
  },
  "lease_terms": {
    "effective_date": "2024-06-28",
    "commencement_date": "2024-09-10",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 270
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 171014.38,
      "annual_escalation_rate_percent": 1.5,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (6.67%)",
        "estimated_monthly_amount_usd": 25652.16
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (11.31%)",
        "estimated_monthly_amount_usd": 17101.44
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 342028.76,
    "late_payment_interest_rate_percent": 14.5
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "West Virginia",
  "document_status": "Amended"
}