<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-2024-8202
Status: Executed
Governing Jurisdiction: Oregon

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Tucker LLC LLC, and the Tenant, Black-Harris. 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 2024-06-20.

The subject of this lease concerns the Partial unit 43 in Building 6 at the property located at 933 Green Harbors
East Ivan, NV 35737. This Mixed-Use facility consists of approximately 5473 rentable square feet and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2024-06-23, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $13,632.33. This figure is scheduled for an annual increase based on a 3.87% escalation rate. A security deposit of $13,632.33 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 Fair Market Value. Any potential sublease of the premises requires Landlord's explicit consent.

Note the existence of a Co-tenancy Failure clause, which can be triggered with 60 days' notice and involves a penalty structured as 8 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-2024-8202",
  "parties": {
    "lessor_details": {
      "name": "Tucker LLC LLC",
      "entity_type": "Limited Partnership"
    },
    "lessee_details": {
      "name": "Black-Harris",
      "entity_type": "S-Corp",
      "address": "969 Johnson Club Apt. 861\nNew James, ME 90163"
    }
  },
  "property_details": {
    "address": "933 Green Harbors\nEast Ivan, NV 35737",
    "property_type": "Mixed-Use",
    "lease_area_description": "Partial unit 43 in Building 6",
    "square_footage_sqft": 5473
  },
  "lease_terms": {
    "effective_date": "2024-06-20",
    "commencement_date": "2024-06-23",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fair Market Value"
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%"
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 60,
        "penalty_details": "8 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 13632.33,
      "annual_escalation_rate_percent": 3.87,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (19.74%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (7.10%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 13632.33
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Oregon",
  "document_status": "Executed"
}