<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-2024-1757
Status: Under Review
Governing Jurisdiction: Kentucky

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Williams-Riley Holdings, and the Tenant, Mitchell, Price and Sullivan. 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 2024-06-15.

The subject of this lease concerns the Partial unit 14B in Building 5 at the property located at 55943 Harris Unions
New Kristen, NH 91332. This Industrial facility consists of the specified area and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2024-09-11, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $77,371.84. This figure is scheduled for an annual increase based on a 1.57% escalation rate. A security deposit of $154,743.68 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months. 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 5.3% per annum. Note the existence of a Tenant Early Termination Option clause, which can be triggered with 180 days' notice and involves a penalty structured as 4 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-2024-1757",
  "parties": {
    "lessor_details": {
      "name": "Williams-Riley Holdings",
      "entity_type": "LLC",
      "address": "9642 Graham Village\nKimberlyshire, FM 78075"
    },
    "lessee_details": {
      "name": "Mitchell, Price and Sullivan",
      "entity_type": "Corporation",
      "address": "778 Serrano Well Apt. 186\nCarrillofurt, RI 95582"
    }
  },
  "property_details": {
    "address": "55943 Harris Unions\nNew Kristen, NH 91332",
    "property_type": "Industrial",
    "lease_area_description": "Partial unit 14B in Building 5"
  },
  "lease_terms": {
    "effective_date": "2024-06-15",
    "commencement_date": "2024-09-11",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%"
      }
    ],
    "requires_landlord_consent_for_sublease": false,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 180,
        "penalty_details": "4 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 77371.84,
      "annual_escalation_rate_percent": 1.57,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (20.96%)",
        "estimated_monthly_amount_usd": 11605.78
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (18.57%)",
        "estimated_monthly_amount_usd": 7737.18
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 154743.68,
    "late_payment_interest_rate_percent": 5.3
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Kentucky",
  "document_status": "Under Review"
}