<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-2023-3746
Status: Executed
Governing Jurisdiction: New Hampshire

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Tanner LLC Holdings, and the Tenant, Bell, Boyd and Hodges. 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 2023-11-21.

The subject of this lease concerns the Partial suite 46A in Building 4 at the property located at 286 Terry Neck Suite 169
North Christopher, AK 04256. This Office facility consists of the specified area and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2023-12-16, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $56,169.85. This figure is scheduled for an annual increase based on a 2.46% escalation rate. A security deposit of $112,339.70 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 Fixed 3% annual increase. Any potential sublease of the premises requires Landlord's explicit consent.

Per section 10.1, Bell, Boyd and Hodges is required to maintain, at minimum, a Commercial General Liability policy of $1,000,000. The certificate of insurance must name all parties as stipulated, including Tanner LLC 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-2023-3746",
  "parties": {
    "lessor_details": {
      "name": "Tanner LLC Holdings",
      "entity_type": "LLC",
      "address": "8559 Smith Streets Suite 621\nHollowayland, OK 48966"
    },
    "lessee_details": {
      "name": "Bell, Boyd and Hodges",
      "entity_type": "Corporation"
    }
  },
  "property_details": {
    "address": "286 Terry Neck Suite 169\nNorth Christopher, AK 04256",
    "property_type": "Office",
    "lease_area_description": "Partial suite 46A in Building 4"
  },
  "lease_terms": {
    "effective_date": "2023-11-21",
    "commencement_date": "2023-12-16",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 180
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 90
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 56169.85,
      "annual_escalation_rate_percent": 2.46,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (25.0%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (6.78%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 112339.7
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "New Hampshire",
  "document_status": "Executed",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 1000000,
      "named_insureds_required": [
        "Tanner LLC Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Tanner LLC Holdings",
        "Lee PLC Mortgage Corp."
      ]
    }
  ]
}