<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-2024-4349
Status: Draft
Governing Jurisdiction: Washington

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Ramos, Floyd and Jackson Holdings, and the Tenant, Warren-Christensen. 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 2024-06-13.

The subject of this lease concerns the Partial unit 11A in Building 7 at the property located at 372 Stephenson Park Apt. 184
New Christopherhaven, TX 86548. This Retail facility consists of approximately 26440 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-09-03, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $119,376.60. This figure is scheduled for an annual increase based on a 3.28% escalation rate. A security deposit of $119,376.60 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months with 270 days' prior notice. During any such renewal, the rent will be adjusted according to CPI-U Adjustment, not to exceed 4%. Any potential sublease of the premises requires Landlord's explicit consent.

Late payments of rent will accrue interest at a rate of 8.7% 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 11 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-2024-4349",
  "parties": {
    "lessor_details": {
      "name": "Ramos, Floyd and Jackson Holdings",
      "entity_type": "LLC",
      "address": "9639 Timothy Lake Suite 025\nWest Christopherbury, FM 58607"
    },
    "lessee_details": {
      "name": "Warren-Christensen",
      "entity_type": "LLC",
      "address": "Unit 3900 Box 6193\nDPO AP 67615"
    }
  },
  "property_details": {
    "address": "372 Stephenson Park Apt. 184\nNew Christopherhaven, TX 86548",
    "property_type": "Retail",
    "lease_area_description": "Partial unit 11A in Building 7",
    "square_footage_sqft": 26440
  },
  "lease_terms": {
    "effective_date": "2024-06-13",
    "commencement_date": "2024-09-03",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 270
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "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": 119376.6,
      "annual_escalation_rate_percent": 3.28,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (23.86%)",
        "estimated_monthly_amount_usd": 17906.49
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (23.27%)",
        "estimated_monthly_amount_usd": 11937.66
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 119376.6,
    "late_payment_interest_rate_percent": 8.7
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Washington",
  "document_status": "Draft"
}