<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-2023-5781
Status: Draft
Governing Jurisdiction: Vermont

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Simon, Parsons and Parrish Inc., and the Tenant, Campbell, Cole and Cooper. 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 2023-11-30.

The subject of this lease concerns the Entire floor 42 in Building 7 at the property located at 30938 Oconnell Dale Suite 528
West Derekmouth, ME 95861. This Office facility consists of approximately 38917 rentable square feet and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2024-01-26, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $146,133.34. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $146,133.34 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 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 requires Landlord's explicit consent.



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-2023-5781",
  "parties": {
    "lessor_details": {
      "name": "Simon, Parsons and Parrish Inc.",
      "entity_type": "LLC",
      "address": "74011 Rocha Ports Apt. 421\nWhitehaven, GA 56189"
    },
    "lessee_details": {
      "name": "Campbell, Cole and Cooper",
      "entity_type": "Corporation",
      "address": "708 Anthony Isle\nMichaelland, NC 88112"
    }
  },
  "property_details": {
    "address": "30938 Oconnell Dale Suite 528\nWest Derekmouth, ME 95861",
    "property_type": "Office",
    "lease_area_description": "Entire floor 42 in Building 7",
    "square_footage_sqft": 38917
  },
  "lease_terms": {
    "effective_date": "2023-11-30",
    "commencement_date": "2024-01-26",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%"
      },
      {
        "option_number": 2,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fair Market Value"
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 146133.34,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (12.33%)",
        "estimated_monthly_amount_usd": 21920.0
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (24.69%)",
        "estimated_monthly_amount_usd": 14613.33
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 146133.34
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Vermont",
  "document_status": "Draft"
}