<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-2024-5369
Status: Amended
Governing Jurisdiction: Idaho

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Hanson and Sons Inc., and the Tenant, Raymond LLC. 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 2024-01-10.

The subject of this lease concerns the Entire floor 4 in Building 1 at the property located at Unit 1281 Box 9705
DPO AP 14165. This Office facility consists of approximately 12276 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-01-26, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $16,859.04. This figure is scheduled for an annual increase based on a 2.18% escalation rate. A security deposit of $16,859.04 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months. During any such renewal, the rent will be adjusted according to Fixed 3% annual increase. Any potential sublease of the premises is permitted subject to standard conditions.

Late payments of rent will accrue interest at a rate of 17.7% per annum. Note the existence of a Tenant Early Termination Option clause, which can be triggered with 60 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-2024-5369",
  "parties": {
    "lessor_details": {
      "name": "Hanson and Sons Inc.",
      "entity_type": "Limited Partnership",
      "address": "04585 Ashley Stravenue Apt. 547\nMooreborough, TN 11860"
    },
    "lessee_details": {
      "name": "Raymond LLC",
      "entity_type": "S-Corp",
      "address": "9936 Amanda Ridges Suite 974\nNew Alison, NY 60308"
    }
  },
  "property_details": {
    "address": "Unit 1281 Box 9705\nDPO AP 14165",
    "property_type": "Office",
    "lease_area_description": "Entire floor 4 in Building 1",
    "square_footage_sqft": 12276
  },
  "lease_terms": {
    "effective_date": "2024-01-10",
    "commencement_date": "2024-01-26",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fixed 3% annual increase"
      }
    ],
    "requires_landlord_consent_for_sublease": false,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 60,
        "penalty_details": "9 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 16859.04,
      "annual_escalation_rate_percent": 2.18,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (23.58%)",
        "estimated_monthly_amount_usd": 2528.86
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (12.39%)",
        "estimated_monthly_amount_usd": 1685.9
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 16859.04,
    "late_payment_interest_rate_percent": 17.7
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Idaho",
  "document_status": "Amended"
}