<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-2023-1650
Status: Amended
Governing Jurisdiction: Georgia

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Riley-Anderson Inc., and the Tenant, Williams-Thomas. 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 2023-08-23.

The subject of this lease concerns the Entire unit 4B in Building 6 at the property located at 97781 Julie Groves
East Aaronberg, RI 71774. This Office facility consists of approximately 29477 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2023-10-06, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $54,630.71. This figure is scheduled for an annual increase based on a 2.22% escalation rate. A security deposit of $109,261.42 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 Fair Market Value. Any potential sublease of the premises is permitted subject to standard conditions.

Late payments of rent will accrue interest at a rate of 14.4% per annum. 

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-2023-1650",
  "parties": {
    "lessor_details": {
      "name": "Riley-Anderson Inc.",
      "entity_type": "Corporation",
      "address": "09489 Munoz Squares Suite 215\nSouth Katherineville, IL 78896"
    },
    "lessee_details": {
      "name": "Williams-Thomas",
      "entity_type": "S-Corp",
      "address": "PSC 0787, Box 5520\nAPO AP 38425"
    }
  },
  "property_details": {
    "address": "97781 Julie Groves\nEast Aaronberg, RI 71774",
    "property_type": "Office",
    "lease_area_description": "Entire unit 4B in Building 6",
    "square_footage_sqft": 29477
  },
  "lease_terms": {
    "effective_date": "2023-08-23",
    "commencement_date": "2023-10-06",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fair Market Value"
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 54630.71,
      "annual_escalation_rate_percent": 2.22,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (17.82%)",
        "estimated_monthly_amount_usd": 8194.61
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (15.21%)",
        "estimated_monthly_amount_usd": 5463.07
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 109261.42,
    "late_payment_interest_rate_percent": 14.4
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Georgia",
  "document_status": "Amended"
}