<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-2023-9474
Status: Executed
Governing Jurisdiction: Mississippi

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Boyd-Robinson Holdings, and the Tenant, Becker, Hood and Mueller. 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 2023-10-27.

The subject of this lease concerns the Partial unit 3A in Building 2 at the property located at 2331 Christopher Extensions
North Douglasland, VT 30640. This Office facility consists of the specified area and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2024-01-07, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $51,883.23. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $51,883.23 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 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 6.8% 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-2023-9474",
  "parties": {
    "lessor_details": {
      "name": "Boyd-Robinson Holdings",
      "entity_type": "LLC",
      "address": "89175 David Gateway\nPort Thomasland, ME 63202"
    },
    "lessee_details": {
      "name": "Becker, Hood and Mueller",
      "entity_type": "LLC",
      "address": "5989 Smith Garden\nAshleyside, MO 39513"
    }
  },
  "property_details": {
    "address": "2331 Christopher Extensions\nNorth Douglasland, VT 30640",
    "property_type": "Office",
    "lease_area_description": "Partial unit 3A in Building 2"
  },
  "lease_terms": {
    "effective_date": "2023-10-27",
    "commencement_date": "2024-01-07",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fair Market Value"
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 51883.23,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (21.88%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (12.53%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 51883.23,
    "late_payment_interest_rate_percent": 6.8
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Mississippi",
  "document_status": "Executed"
}