<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-2024-1505
Status: Amended
Governing Jurisdiction: Colorado

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Williams, Woods and Terry Ventures, and the Tenant, Brewer-Jenkins. 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 2024-07-23.

The subject of this lease concerns the Entire floor 20 in Building 10 at the property located at 434 Woods Corner Suite 109
South Henrymouth, NH 96966. This Industrial facility consists of approximately 32399 rentable square feet and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2024-08-06, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $43,360.66. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $86,721.32 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 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 17.1% 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-2024-1505",
  "parties": {
    "lessor_details": {
      "name": "Williams, Woods and Terry Ventures",
      "entity_type": "Corporation",
      "address": "PSC 0107, Box 8594\nAPO AA 62162"
    },
    "lessee_details": {
      "name": "Brewer-Jenkins",
      "entity_type": "S-Corp"
    }
  },
  "property_details": {
    "address": "434 Woods Corner Suite 109\nSouth Henrymouth, NH 96966",
    "property_type": "Industrial",
    "lease_area_description": "Entire floor 20 in Building 10",
    "square_footage_sqft": 32399
  },
  "lease_terms": {
    "effective_date": "2024-07-23",
    "commencement_date": "2024-08-06",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%"
      },
      {
        "option_number": 2,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fair Market Value"
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 43360.66,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (24.50%)",
        "estimated_monthly_amount_usd": 6504.1
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (17.21%)",
        "estimated_monthly_amount_usd": 4336.07
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 86721.32,
    "late_payment_interest_rate_percent": 17.1
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Colorado",
  "document_status": "Amended"
}