<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-2024-4939
Status: Draft
Governing Jurisdiction: Alaska

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Lopez, Bryant and Roberts Holdings, and the Tenant, Espinoza, Hawkins and Snyder. 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 2024-05-18.

The subject of this lease concerns the Partial unit 28A in Building 2 at the property located at 1602 Robertson Parkways
Port Denise, GU 57505. This Office facility consists of the specified area and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2024-05-20, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $118,363.70. This figure is scheduled for an annual increase based on a 2.87% escalation rate. A security deposit of $118,363.70 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months with 270 days' prior notice. 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 Tenant Early Termination Option clause, which can be triggered with 90 days' notice and involves a penalty structured as 3 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-2024-4939",
  "parties": {
    "lessor_details": {
      "name": "Lopez, Bryant and Roberts Holdings",
      "entity_type": "Limited Partnership",
      "address": "8717 Luis Lane\nWest Harold, OH 34069"
    },
    "lessee_details": {
      "name": "Espinoza, Hawkins and Snyder",
      "entity_type": "LLC"
    }
  },
  "property_details": {
    "address": "1602 Robertson Parkways\nPort Denise, GU 57505",
    "property_type": "Office",
    "lease_area_description": "Partial unit 28A in Building 2"
  },
  "lease_terms": {
    "effective_date": "2024-05-18",
    "commencement_date": "2024-05-20",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 270
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 365
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 90,
        "penalty_details": "3 months' rent plus unamortized transaction costs."
      },
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 60,
        "penalty_details": "11 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 118363.7,
      "annual_escalation_rate_percent": 2.87,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (24.34%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (23.19%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 118363.7
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Alaska",
  "document_status": "Draft"
}