<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-2023-9263
Status: Draft
Governing Jurisdiction: Arkansas

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Castillo-Hernandez Inc., and the Tenant, Conway, Moore and Clarke. 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 2023-10-07.

The subject of this lease concerns the Entire floor 26 in Building 6 at the property located at PSC 2845, Box 9972
APO AP 00893. This Industrial facility consists of approximately 8701 rentable square feet and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2023-10-16, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $14,197.13. This figure is scheduled for an annual increase based on a 3.87% escalation rate. A security deposit of $14,197.13 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months. During any such renewal, the rent will be adjusted according to Greater of Fair Market Value or previous rent + 3%. Any potential sublease of the premises requires Landlord's explicit consent.

Note the existence of a Co-tenancy Failure clause, which can be triggered with 90 days' notice and involves a penalty structured as 10 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-2023-9263",
  "parties": {
    "lessor_details": {
      "name": "Castillo-Hernandez Inc.",
      "entity_type": "Limited Partnership"
    },
    "lessee_details": {
      "name": "Conway, Moore and Clarke",
      "entity_type": "S-Corp",
      "address": "PSC 0812, Box 0140\nAPO AP 80592"
    }
  },
  "property_details": {
    "address": "PSC 2845, Box 9972\nAPO AP 00893",
    "property_type": "Industrial",
    "lease_area_description": "Entire floor 26 in Building 6",
    "square_footage_sqft": 8701
  },
  "lease_terms": {
    "effective_date": "2023-10-07",
    "commencement_date": "2023-10-16",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%"
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 90,
        "penalty_details": "10 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 14197.13,
      "annual_escalation_rate_percent": 3.87,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (5.71%)",
        "estimated_monthly_amount_usd": 2129.57
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (9.79%)",
        "estimated_monthly_amount_usd": 1419.71
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 14197.13
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Arkansas",
  "document_status": "Draft"
}