<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-2024-2895
Status: Amended
Governing Jurisdiction: Ohio

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Barton, Adkins and Stokes Holdings, and the Tenant, Yoder 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 2024-03-08.

The subject of this lease concerns the Partial unit 46 in Building 7 at the property located at 33164 Hoffman Drive
Colemanton, CT 56385. This Office facility consists of approximately 32507 rentable square feet and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2024-03-20, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $104,049.49. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $104,049.49 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 Fair Market Value. Any potential sublease of the premises is permitted subject to standard conditions.

Per section 10.1, Yoder Ltd 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 Barton, Adkins and Stokes 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-2024-2895",
  "parties": {
    "lessor_details": {
      "name": "Barton, Adkins and Stokes Holdings",
      "entity_type": "Corporation",
      "address": "3505 Castaneda Corners\nPort Joseph, WY 86484"
    },
    "lessee_details": {
      "name": "Yoder Ltd",
      "entity_type": "S-Corp",
      "address": "6721 Angel River Suite 172\nGomezmouth, MS 17526"
    }
  },
  "property_details": {
    "address": "33164 Hoffman Drive\nColemanton, CT 56385",
    "property_type": "Office",
    "lease_area_description": "Partial unit 46 in Building 7",
    "square_footage_sqft": 32507
  },
  "lease_terms": {
    "effective_date": "2024-03-08",
    "commencement_date": "2024-03-20",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fair Market Value"
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 104049.49,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (8.48%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (10.27%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 104049.49
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Ohio",
  "document_status": "Amended",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Barton, Adkins and Stokes Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Barton, Adkins and Stokes Holdings",
        "Moore, Rosario and Garcia Mortgage Corp."
      ]
    }
  ]
}