<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-2024-6743
Status: Amended
Governing Jurisdiction: Kentucky

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Gonzales-Medina LLC, and the Tenant, Trevino-Jenkins. 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 2024-06-11.

The subject of this lease concerns the Entire floor 32 in Building 3 at the property located at 062 Erica Creek Apt. 744
Robertside, TX 33429. This Retail facility consists of approximately 36699 rentable square feet and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2024-08-26, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $140,220.76. This figure is scheduled for an annual increase based on a 1.85% escalation rate. A security deposit of $280,441.52 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 90 days' prior notice. During any such renewal, the rent will be adjusted according to Fair Market Value. Any potential sublease of the premises is permitted subject to standard conditions.

Late payments of rent will accrue interest at a rate of 5.6% 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-2024-6743",
  "parties": {
    "lessor_details": {
      "name": "Gonzales-Medina LLC",
      "entity_type": "Limited Partnership",
      "address": "467 Deborah Knoll\nAndrewfort, HI 32190"
    },
    "lessee_details": {
      "name": "Trevino-Jenkins",
      "entity_type": "Corporation",
      "address": "3686 Tina Squares\nPort Codyborough, VT 59359"
    }
  },
  "property_details": {
    "address": "062 Erica Creek Apt. 744\nRobertside, TX 33429",
    "property_type": "Retail",
    "lease_area_description": "Entire floor 32 in Building 3",
    "square_footage_sqft": 36699
  },
  "lease_terms": {
    "effective_date": "2024-06-11",
    "commencement_date": "2024-08-26",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 90
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 270
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 140220.76,
      "annual_escalation_rate_percent": 1.85,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (9.13%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (5.53%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 280441.52,
    "late_payment_interest_rate_percent": 5.6
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Kentucky",
  "document_status": "Amended"
}