<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-2023-3900
Status: Executed
Governing Jurisdiction: Delaware

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Johnson, Durham and Mendoza Holdings, and the Tenant, Anderson, Diaz and Watson. 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 2023-09-03.

The subject of this lease concerns the Partial suite 36B in Building 10 at the property located at 374 Lisa Terrace Suite 730
Willisport, FL 69998. This Mixed-Use facility consists of approximately 20238 rentable square feet and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2023-10-25, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $39,194.26. This figure is scheduled for an annual increase based on a 2.35% escalation rate. A security deposit of $78,388.52 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 Greater of Fair Market Value or previous rent + 3%. Any potential sublease of the premises requires Landlord's explicit consent.

Late payments of rent will accrue interest at a rate of 17.1% per annum. Note the existence of a Landlord Recapture Right clause, which can be triggered with 180 days' notice and involves a penalty structured as 10 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-2023-3900",
  "parties": {
    "lessor_details": {
      "name": "Johnson, Durham and Mendoza Holdings",
      "entity_type": "Limited Partnership",
      "address": "18200 Brenda Alley Apt. 353\nPaulview, AZ 01791"
    },
    "lessee_details": {
      "name": "Anderson, Diaz and Watson",
      "entity_type": "LLC",
      "address": "224 Kline Parkways\nLake Tommyport, MA 71291"
    }
  },
  "property_details": {
    "address": "374 Lisa Terrace Suite 730\nWillisport, FL 69998",
    "property_type": "Mixed-Use",
    "lease_area_description": "Partial suite 36B in Building 10",
    "square_footage_sqft": 20238
  },
  "lease_terms": {
    "effective_date": "2023-09-03",
    "commencement_date": "2023-10-25",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%"
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 180,
        "penalty_details": "10 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 39194.26,
      "annual_escalation_rate_percent": 2.35,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (12.17%)",
        "estimated_monthly_amount_usd": 5879.14
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (25.0%)",
        "estimated_monthly_amount_usd": 3919.43
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 78388.52,
    "late_payment_interest_rate_percent": 17.1
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Delaware",
  "document_status": "Executed"
}