<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-2024-4924
Status: Draft
Governing Jurisdiction: Florida

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Brown, Rose and Burns LLC, and the Tenant, Ayala PLC. 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 2024-06-16.

The subject of this lease concerns the Entire floor 23B in Building 5 at the property located at 347 Jones Court Apt. 593
Vanessaborough, DC 53913. This Mixed-Use facility consists of approximately 43753 rentable square feet and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2024-07-04, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $103,767.53. This figure is scheduled for an annual increase based on a 2.59% escalation rate. A security deposit of $207,535.06 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months with 270 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.

Per section 10.1, Ayala PLC 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 Brown, Rose and Burns LLC. Note the existence of a Co-tenancy Failure clause, which can be triggered with 90 days' notice and involves a penalty structured as 4 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-2024-4924",
  "parties": {
    "lessor_details": {
      "name": "Brown, Rose and Burns LLC",
      "entity_type": "Limited Partnership",
      "address": "2041 Hector Manor Suite 261\nLake Shaunshire, WY 61743"
    },
    "lessee_details": {
      "name": "Ayala PLC",
      "entity_type": "LLC",
      "address": "30123 Jennifer Lakes Apt. 106\nEast Dustin, OR 97338"
    }
  },
  "property_details": {
    "address": "347 Jones Court Apt. 593\nVanessaborough, DC 53913",
    "property_type": "Mixed-Use",
    "lease_area_description": "Entire floor 23B in Building 5",
    "square_footage_sqft": 43753
  },
  "lease_terms": {
    "effective_date": "2024-06-16",
    "commencement_date": "2024-07-04",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 270
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 90,
        "penalty_details": "4 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 103767.53,
      "annual_escalation_rate_percent": 2.59,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (21.11%)",
        "estimated_monthly_amount_usd": 15565.13
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (14.35%)",
        "estimated_monthly_amount_usd": 10376.75
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 207535.06
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Florida",
  "document_status": "Draft",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 2000000,
      "named_insureds_required": [
        "Brown, Rose and Burns LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Brown, Rose and Burns LLC",
        "Rogers-Grimes Mortgage Corp."
      ]
    }
  ]
}