<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-2023-6464
Status: Executed
Governing Jurisdiction: Wyoming

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Hinton, Wheeler and Romero Holdings, and the Tenant, Howard, Adkins and Washington. 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 2023-09-05.

The subject of this lease concerns the Entire floor 49A in Building 7 at the property located at 11168 Ronald Forest
Changfurt, NM 42596. This Mixed-Use facility consists of the specified area and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2023-10-09, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $107,590.63. This figure is scheduled for an annual increase based on a 3.46% escalation rate. A security deposit of $215,181.26 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months. 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.

Per section 10.1, Howard, Adkins and Washington is required to maintain, at minimum, a Commercial General Liability policy of $5,000,000. The certificate of insurance must name all parties as stipulated, including Hinton, Wheeler and Romero Holdings. 

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-2023-6464",
  "parties": {
    "lessor_details": {
      "name": "Hinton, Wheeler and Romero Holdings",
      "entity_type": "Corporation",
      "address": "9682 Hurley Cliff Suite 290\nTaylorstad, NE 73175"
    },
    "lessee_details": {
      "name": "Howard, Adkins and Washington",
      "entity_type": "LLC"
    }
  },
  "property_details": {
    "address": "11168 Ronald Forest\nChangfurt, NM 42596",
    "property_type": "Mixed-Use",
    "lease_area_description": "Entire floor 49A in Building 7"
  },
  "lease_terms": {
    "effective_date": "2023-09-05",
    "commencement_date": "2023-10-09",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fair Market Value"
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fair Market Value"
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 107590.63,
      "annual_escalation_rate_percent": 3.46,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (16.90%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (17.58%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 215181.26
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Wyoming",
  "document_status": "Executed",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Hinton, Wheeler and Romero Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Hinton, Wheeler and Romero Holdings",
        "Larson, Ball and Griffin Mortgage Corp."
      ]
    }
  ]
}