<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-2023-8120
Status: Under Review
Governing Jurisdiction: New Hampshire

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Coleman, Mendez and Mueller Inc., and the Tenant, Ross, Mathis and Schmidt. 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 2023-11-20.

The subject of this lease concerns the Partial suite 34 in Building 9 at the property located at 14532 Cindy Mountains Suite 630
Wilsonfort, ID 75727. This Warehouse facility consists of approximately 5131 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-01-19, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $23,358.88. This figure is scheduled for an annual increase based on a 3.88% escalation rate. A security deposit of $23,358.88 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 180 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 is permitted subject to standard conditions.

Per section 10.1, Ross, Mathis and Schmidt is required to maintain, at minimum, a Commercial General Liability policy of $1,000,000. The certificate of insurance must name all parties as stipulated, including Coleman, Mendez and Mueller Inc.. Late payments of rent will accrue interest at a rate of 15.0% 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-2023-8120",
  "parties": {
    "lessor_details": {
      "name": "Coleman, Mendez and Mueller Inc.",
      "entity_type": "LLC",
      "address": "63236 Patrick Divide Apt. 158\nEast Mackenzieburgh, MP 54249"
    },
    "lessee_details": {
      "name": "Ross, Mathis and Schmidt",
      "entity_type": "S-Corp",
      "address": "830 Kyle Rapids Suite 964\nJeannefurt, IL 49453"
    }
  },
  "property_details": {
    "address": "14532 Cindy Mountains Suite 630\nWilsonfort, ID 75727",
    "property_type": "Warehouse",
    "lease_area_description": "Partial suite 34 in Building 9",
    "square_footage_sqft": 5131
  },
  "lease_terms": {
    "effective_date": "2023-11-20",
    "commencement_date": "2024-01-19",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 180
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 23358.88,
      "annual_escalation_rate_percent": 3.88,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (24.93%)",
        "estimated_monthly_amount_usd": 3503.83
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (13.66%)",
        "estimated_monthly_amount_usd": 2335.89
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 23358.88,
    "late_payment_interest_rate_percent": 15.0
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "New Hampshire",
  "document_status": "Under Review",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 1000000,
      "named_insureds_required": [
        "Coleman, Mendez and Mueller Inc."
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Coleman, Mendez and Mueller Inc.",
        "Thomas, Lopez and Merritt Mortgage Corp."
      ]
    }
  ]
}