<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-2023-1520
Status: Executed
Governing Jurisdiction: Montana

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Howe-Castaneda Properties, and the Tenant, Rodriguez-Garcia. 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 2023-10-14.

The subject of this lease concerns the Entire floor 24 in Building 2 at the property located at 6758 Vicki Dale
Hallfort, FL 05447. This Office facility consists of approximately 16992 rentable square feet and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2023-11-23, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $60,803.04. This figure is scheduled for an annual increase based on a 3.33% escalation rate. A security deposit of $60,803.04 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months with 90 days' prior notice. During any such renewal, the rent will be adjusted according to Fixed 3% annual increase. Any potential sublease of the premises requires Landlord's explicit consent.



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-2023-1520",
  "parties": {
    "lessor_details": {
      "name": "Howe-Castaneda Properties",
      "entity_type": "Limited Partnership",
      "address": "45389 Scott Corner\nWest Christopherport, HI 25757"
    },
    "lessee_details": {
      "name": "Rodriguez-Garcia",
      "entity_type": "Corporation",
      "address": "459 Angela Springs Suite 322\nWest Jamesville, SC 39730"
    }
  },
  "property_details": {
    "address": "6758 Vicki Dale\nHallfort, FL 05447",
    "property_type": "Office",
    "lease_area_description": "Entire floor 24 in Building 2",
    "square_footage_sqft": 16992
  },
  "lease_terms": {
    "effective_date": "2023-10-14",
    "commencement_date": "2023-11-23",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 90
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 60803.04,
      "annual_escalation_rate_percent": 3.33,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (25.0%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (23.51%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 60803.04
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Montana",
  "document_status": "Executed"
}