<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-2023-5228
Status: Amended
Governing Jurisdiction: Montana

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Ramos-Russell Properties, and the Tenant, Harvey-Warren. 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 2023-10-12.

The subject of this lease concerns the Partial suite 20A in Building 10 at the property located at Unit 4382 Box 4590
DPO AA 32513. This Retail facility consists of approximately 44428 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-01-06, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $197,075.20. This figure is scheduled for an annual increase based on a 2.72% escalation rate. A security deposit of $197,075.20 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 365 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.

Late payments of rent will accrue interest at a rate of 17.1% per annum. 

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-2023-5228",
  "parties": {
    "lessor_details": {
      "name": "Ramos-Russell Properties",
      "entity_type": "Limited Partnership"
    },
    "lessee_details": {
      "name": "Harvey-Warren",
      "entity_type": "S-Corp"
    }
  },
  "property_details": {
    "address": "Unit 4382 Box 4590\nDPO AA 32513",
    "property_type": "Retail",
    "lease_area_description": "Partial suite 20A in Building 10",
    "square_footage_sqft": 44428
  },
  "lease_terms": {
    "effective_date": "2023-10-12",
    "commencement_date": "2024-01-06",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 365
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 197075.2,
      "annual_escalation_rate_percent": 2.72,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (12.95%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (14.74%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 197075.2,
    "late_payment_interest_rate_percent": 17.1
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Montana",
  "document_status": "Amended"
}