<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-2023-6190
Status: Draft
Governing Jurisdiction: New York

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Lee-Scott Holdings, and the Tenant, Robinson Ltd. 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 2023-09-27.

The subject of this lease concerns the Partial floor 14 in Building 2 at the property located at 05387 Barnes Village
Jasonhaven, DE 33822. 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 2023-10-11, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $89,992.67. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $179,985.34 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 requires Landlord's explicit consent.

Per section 10.1, Robinson Ltd is required to maintain, at minimum, a Commercial General Liability policy of $2,000,000. The certificate of insurance must name all parties as stipulated, including Lee-Scott Holdings. Note the existence of a Tenant Early Termination Option clause, which can be triggered with 180 days' notice and involves a penalty structured as 5 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-2023-6190",
  "parties": {
    "lessor_details": {
      "name": "Lee-Scott Holdings",
      "entity_type": "LLC"
    },
    "lessee_details": {
      "name": "Robinson Ltd",
      "entity_type": "Corporation",
      "address": "65975 Joseph Spur Apt. 500\nFlowersmouth, NV 97585"
    }
  },
  "property_details": {
    "address": "05387 Barnes Village\nJasonhaven, DE 33822",
    "property_type": "Warehouse",
    "lease_area_description": "Partial floor 14 in Building 2"
  },
  "lease_terms": {
    "effective_date": "2023-09-27",
    "commencement_date": "2023-10-11",
    "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": "Fixed 3% annual increase"
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 180,
        "penalty_details": "5 months' rent plus unamortized transaction costs."
      },
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 180,
        "penalty_details": "4 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 89992.67,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (22.55%)",
        "estimated_monthly_amount_usd": 13498.9
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (5.53%)",
        "estimated_monthly_amount_usd": 8999.27
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 179985.34
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "New York",
  "document_status": "Draft",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 2000000,
      "named_insureds_required": [
        "Lee-Scott Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Lee-Scott Holdings",
        "Horn Ltd Mortgage Corp."
      ]
    }
  ]
}