<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-2024-9713
Status: Executed
Governing Jurisdiction: Hawaii

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, York Ltd Holdings, and the Tenant, Freeman, Fisher and Hanson. 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 2024-08-11.

The subject of this lease concerns the Partial suite 42A in Building 4 at the property located at USNV Robbins
FPO AP 78937. This Industrial 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 2024-10-02, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $72,598.60. This figure is scheduled for an annual increase based on a 2.16% escalation rate. A security deposit of $72,598.60 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months. 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.

Per section 10.1, Freeman, Fisher and Hanson is required to maintain, at minimum, a Commercial General Liability policy of $1,000,000. The certificate of insurance must name all parties as stipulated, including York Ltd Holdings. Late payments of rent will accrue interest at a rate of 9.5% per annum. Note the existence of a Co-tenancy Failure clause, which can be triggered with 90 days' notice and involves a penalty structured as 9 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-2024-9713",
  "parties": {
    "lessor_details": {
      "name": "York Ltd Holdings",
      "entity_type": "Corporation"
    },
    "lessee_details": {
      "name": "Freeman, Fisher and Hanson",
      "entity_type": "S-Corp",
      "address": "683 Todd Village Apt. 488\nPorterfurt, FL 60319"
    }
  },
  "property_details": {
    "address": "USNV Robbins\nFPO AP 78937",
    "property_type": "Industrial",
    "lease_area_description": "Partial suite 42A in Building 4"
  },
  "lease_terms": {
    "effective_date": "2024-08-11",
    "commencement_date": "2024-10-02",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fixed 3% annual increase"
      },
      {
        "option_number": 2,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%"
      }
    ],
    "requires_landlord_consent_for_sublease": false,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 90,
        "penalty_details": "9 months' rent plus unamortized transaction costs."
      },
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 60,
        "penalty_details": "5 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 72598.6,
      "annual_escalation_rate_percent": 2.16,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (13.24%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (8.61%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 72598.6,
    "late_payment_interest_rate_percent": 9.5
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Hawaii",
  "document_status": "Executed",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 1000000,
      "named_insureds_required": [
        "York Ltd Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "York Ltd Holdings",
        "Jackson and Sons Mortgage Corp."
      ]
    }
  ]
}