<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-2023-8334
Status: Amended
Governing Jurisdiction: Colorado

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Alvarez-Mccarthy Ventures, and the Tenant, James PLC. 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 2023-10-22.

The subject of this lease concerns the Entire unit 7A in Building 1 at the property located at 419 Kim Divide Apt. 080
Timothychester, VT 15986. This Warehouse facility consists of approximately 5089 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2023-12-05, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $19,876.79. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $19,876.79 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months with 365 days' prior notice. During any such renewal, the rent will be adjusted according to Fixed 3% annual increase. Any potential sublease of the premises is permitted subject to standard conditions.

Late payments of rent will accrue interest at a rate of 12.8% per annum. Note the existence of a Tenant Early Termination Option clause, which can be triggered with 90 days' notice and involves a penalty structured as 7 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-2023-8334",
  "parties": {
    "lessor_details": {
      "name": "Alvarez-Mccarthy Ventures",
      "entity_type": "LLC",
      "address": "1027 Rachel Highway Suite 357\nNew Michael, WA 42577"
    },
    "lessee_details": {
      "name": "James PLC",
      "entity_type": "LLC"
    }
  },
  "property_details": {
    "address": "419 Kim Divide Apt. 080\nTimothychester, VT 15986",
    "property_type": "Warehouse",
    "lease_area_description": "Entire unit 7A in Building 1",
    "square_footage_sqft": 5089
  },
  "lease_terms": {
    "effective_date": "2023-10-22",
    "commencement_date": "2023-12-05",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 365
      }
    ],
    "requires_landlord_consent_for_sublease": false,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 90,
        "penalty_details": "7 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 19876.79,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (25.0%)",
        "estimated_monthly_amount_usd": 2981.52
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (5.78%)",
        "estimated_monthly_amount_usd": 1987.68
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 19876.79,
    "late_payment_interest_rate_percent": 12.8
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Colorado",
  "document_status": "Amended"
}