<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-2024-5208
Status: Draft
Governing Jurisdiction: Nevada

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Murray-George Inc., and the Tenant, Robbins, Stanton and Mendoza. 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 2024-07-02.

The subject of this lease concerns the Entire unit 18B in Building 6 at the property located at PSC 7664, Box 7746
APO AA 13388. This Warehouse facility consists of the specified area and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-07-27, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $47,402.31. This figure is scheduled for an annual increase based on a 2.28% escalation rate. A security deposit of $47,402.31 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 180 days' prior notice. During any such renewal, the rent will be adjusted according to Greater of Fair Market Value or previous rent + 3%. Any potential sublease of the premises requires Landlord's explicit consent.



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-2024-5208",
  "parties": {
    "lessor_details": {
      "name": "Murray-George Inc.",
      "entity_type": "Corporation",
      "address": "0446 Kenneth Manor\nNew William, VA 30203"
    },
    "lessee_details": {
      "name": "Robbins, Stanton and Mendoza",
      "entity_type": "S-Corp"
    }
  },
  "property_details": {
    "address": "PSC 7664, Box 7746\nAPO AA 13388",
    "property_type": "Warehouse",
    "lease_area_description": "Entire unit 18B in Building 6"
  },
  "lease_terms": {
    "effective_date": "2024-07-02",
    "commencement_date": "2024-07-27",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 180
      },
      {
        "option_number": 2,
        "duration_months": 36,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 180
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 47402.31,
      "annual_escalation_rate_percent": 2.28,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (16.34%)",
        "estimated_monthly_amount_usd": 7110.35
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (13.61%)",
        "estimated_monthly_amount_usd": 4740.23
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 47402.31
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Nevada",
  "document_status": "Draft"
}