<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-2024-5149
Status: Under Review
Governing Jurisdiction: Tennessee

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Rogers, Simon and Weaver Properties, and the Tenant, Hernandez LLC. 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 27 in Building 5 at the property located at 90256 Derrick Tunnel Suite 838
Mooremouth, MO 79372. This Office facility consists of approximately 16941 rentable square feet and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2024-08-21, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $51,684.17. This figure is scheduled for an annual increase based on a 1.64% escalation rate. A security deposit of $103,368.34 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 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 6.8% per annum. Note the existence of a Co-tenancy Failure clause, which can be triggered with 90 days' notice and involves a penalty structured as 5 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-2024-5149",
  "parties": {
    "lessor_details": {
      "name": "Rogers, Simon and Weaver Properties",
      "entity_type": "Corporation",
      "address": "Unit 6926 Box 5966\nDPO AE 55170"
    },
    "lessee_details": {
      "name": "Hernandez LLC",
      "entity_type": "S-Corp",
      "address": "461 Daniel Drive\nMichaelstad, ME 47854"
    }
  },
  "property_details": {
    "address": "90256 Derrick Tunnel Suite 838\nMooremouth, MO 79372",
    "property_type": "Office",
    "lease_area_description": "Entire suite 27 in Building 5",
    "square_footage_sqft": 16941
  },
  "lease_terms": {
    "effective_date": "2024-06-28",
    "commencement_date": "2024-08-21",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%"
      }
    ],
    "requires_landlord_consent_for_sublease": false,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 90,
        "penalty_details": "5 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 51684.17,
      "annual_escalation_rate_percent": 1.64,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (18.78%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (20.95%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 103368.34,
    "late_payment_interest_rate_percent": 6.8
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Tennessee",
  "document_status": "Under Review"
}