<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-2024-5820
Status: Under Review
Governing Jurisdiction: Florida

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Cox-Castillo LLC, and the Tenant, Stone and Sons. 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 2024-02-08.

The subject of this lease concerns the Entire unit 30B in Building 1 at the property located at 9370 Moreno Mills
East Kimberly, WA 02795. This Mixed-Use facility consists of approximately 22944 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-02-27, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $94,414.56. This figure is scheduled for an annual increase based on a 1.84% escalation rate. A security deposit of $188,829.12 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months with 270 days' prior notice. 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.

Per section 10.1, Stone and Sons is required to maintain, at minimum, a Commercial General Liability policy of $2,000,000. The certificate of insurance must name all parties as stipulated, including Cox-Castillo LLC. Late payments of rent will accrue interest at a rate of 10.8% 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-2024-5820",
  "parties": {
    "lessor_details": {
      "name": "Cox-Castillo LLC",
      "entity_type": "Limited Partnership",
      "address": "USNV Freeman\nFPO AA 64745"
    },
    "lessee_details": {
      "name": "Stone and Sons",
      "entity_type": "Corporation",
      "address": "83699 Morales Lake Suite 498\nSalazarmouth, ND 96278"
    }
  },
  "property_details": {
    "address": "9370 Moreno Mills\nEast Kimberly, WA 02795",
    "property_type": "Mixed-Use",
    "lease_area_description": "Entire unit 30B in Building 1",
    "square_footage_sqft": 22944
  },
  "lease_terms": {
    "effective_date": "2024-02-08",
    "commencement_date": "2024-02-27",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 270
      },
      {
        "option_number": 2,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 180
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 94414.56,
      "annual_escalation_rate_percent": 1.84,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (23.93%)",
        "estimated_monthly_amount_usd": 14162.18
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (11.73%)",
        "estimated_monthly_amount_usd": 9441.46
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 188829.12,
    "late_payment_interest_rate_percent": 10.8
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Florida",
  "document_status": "Under Review",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 2000000,
      "named_insureds_required": [
        "Cox-Castillo LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Cox-Castillo LLC",
        "Duke Group Mortgage Corp."
      ]
    }
  ]
}