<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-2023-3307
Status: Executed
Governing Jurisdiction: Nebraska

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Lewis-Yu LLC, and the Tenant, Johnson, Bolton and Perry. 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 2023-11-24.

The subject of this lease concerns the Entire suite 36A in Building 7 at the property located at USCGC Miranda
FPO AP 35943. This Warehouse facility consists of approximately 29321 rentable square feet and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2023-12-08, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $42,808.66. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $42,808.66 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months with 90 days' prior notice. During any such renewal, the rent will be adjusted according to Fixed 3% annual increase. Any potential sublease of the premises requires Landlord's explicit consent.

Per section 10.1, Johnson, Bolton and Perry is required to maintain, at minimum, a Commercial General Liability policy of $1,000,000. The certificate of insurance must name all parties as stipulated, including Lewis-Yu LLC. 

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-2023-3307",
  "parties": {
    "lessor_details": {
      "name": "Lewis-Yu LLC",
      "entity_type": "LLC",
      "address": "308 Lee Ranch\nBarnesfort, PW 38705"
    },
    "lessee_details": {
      "name": "Johnson, Bolton and Perry",
      "entity_type": "S-Corp"
    }
  },
  "property_details": {
    "address": "USCGC Miranda\nFPO AP 35943",
    "property_type": "Warehouse",
    "lease_area_description": "Entire suite 36A in Building 7",
    "square_footage_sqft": 29321
  },
  "lease_terms": {
    "effective_date": "2023-11-24",
    "commencement_date": "2023-12-08",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 90
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 42808.66,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (10.35%)",
        "estimated_monthly_amount_usd": 6421.3
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (13.36%)",
        "estimated_monthly_amount_usd": 4280.87
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 42808.66
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Nebraska",
  "document_status": "Executed",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 1000000,
      "named_insureds_required": [
        "Lewis-Yu LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Lewis-Yu LLC",
        "Curtis, Hill and Jackson Mortgage Corp."
      ]
    }
  ]
}