<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-2024-9378
Status: Amended
Governing Jurisdiction: Oregon

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Henry, Robertson and Walker Inc., and the Tenant, Mack-Bond. 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 2024-02-14.

The subject of this lease concerns the Entire suite 50B in Building 8 at the property located at 41357 Walker Crescent Apt. 170
Salazarmouth, GU 87143. This Office facility consists of approximately 41489 rentable square feet and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2024-03-18, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $149,118.38. This figure is scheduled for an annual increase based on a 1.71% escalation rate. A security deposit of $149,118.38 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, Mack-Bond 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 Henry, Robertson and Walker Inc.. Late payments of rent will accrue interest at a rate of 13.5% per annum. Note the existence of a Co-tenancy Failure clause, which can be triggered with 90 days' notice and involves a penalty structured as 9 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-2024-9378",
  "parties": {
    "lessor_details": {
      "name": "Henry, Robertson and Walker Inc.",
      "entity_type": "Limited Partnership",
      "address": "14665 Berg Cliff Apt. 330\nNorth Jennifer, HI 50077"
    },
    "lessee_details": {
      "name": "Mack-Bond",
      "entity_type": "S-Corp"
    }
  },
  "property_details": {
    "address": "41357 Walker Crescent Apt. 170\nSalazarmouth, GU 87143",
    "property_type": "Office",
    "lease_area_description": "Entire suite 50B in Building 8",
    "square_footage_sqft": 41489
  },
  "lease_terms": {
    "effective_date": "2024-02-14",
    "commencement_date": "2024-03-18",
    "initial_term_months": 120,
    "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": "CPI-U Adjustment, not to exceed 4%"
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 90,
        "penalty_details": "9 months' rent plus unamortized transaction costs."
      },
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 60,
        "penalty_details": "11 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 149118.38,
      "annual_escalation_rate_percent": 1.71,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (6.47%)",
        "estimated_monthly_amount_usd": 22367.76
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (5.26%)",
        "estimated_monthly_amount_usd": 14911.84
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 149118.38,
    "late_payment_interest_rate_percent": 13.5
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Oregon",
  "document_status": "Amended",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 2000000,
      "named_insureds_required": [
        "Henry, Robertson and Walker Inc."
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Henry, Robertson and Walker Inc.",
        "Malone Group Mortgage Corp."
      ]
    }
  ]
}