<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-2024-5575
Status: Under Review
Governing Jurisdiction: Alabama

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Brown, Foley and Shelton Ventures, and the Tenant, Cabrera 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 2024-04-02.

The subject of this lease concerns the Partial unit 15A in Building 8 at the property located at 7026 Phillip Forks Apt. 019
Port Lorettabury, MT 44647. This Warehouse 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 2024-04-30, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $176,768.21. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $353,536.42 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months with 365 days' prior notice. During any such renewal, the rent will be adjusted according to Fair Market Value. Any potential sublease of the premises requires Landlord's explicit consent.

Per section 10.1, Cabrera Ltd 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, Foley and Shelton Ventures. Late payments of rent will accrue interest at a rate of 18.0% per annum. Note the existence of a Tenant Early Termination Option clause, which can be triggered with 90 days' notice and involves a penalty structured as 3 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-2024-5575",
  "parties": {
    "lessor_details": {
      "name": "Brown, Foley and Shelton Ventures",
      "entity_type": "LLC",
      "address": "6290 Kimberly Burgs Apt. 233\nLake Jeremy, TX 04345"
    },
    "lessee_details": {
      "name": "Cabrera Ltd",
      "entity_type": "S-Corp",
      "address": "0222 Joseph Track Apt. 161\nNew Debra, NV 96108"
    }
  },
  "property_details": {
    "address": "7026 Phillip Forks Apt. 019\nPort Lorettabury, MT 44647",
    "property_type": "Warehouse",
    "lease_area_description": "Partial unit 15A in Building 8"
  },
  "lease_terms": {
    "effective_date": "2024-04-02",
    "commencement_date": "2024-04-30",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 365
      },
      {
        "option_number": 2,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 90
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 90,
        "penalty_details": "3 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 176768.21,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (6.11%)",
        "estimated_monthly_amount_usd": 26515.23
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (13.93%)",
        "estimated_monthly_amount_usd": 17676.82
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 353536.42,
    "late_payment_interest_rate_percent": 18.0
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Alabama",
  "document_status": "Under Review",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 2000000,
      "named_insureds_required": [
        "Brown, Foley and Shelton Ventures"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Brown, Foley and Shelton Ventures",
        "Oneal, Gonzalez and Blevins Mortgage Corp."
      ]
    }
  ]
}