<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-2024-6626
Status: Amended
Governing Jurisdiction: Idaho

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Stanley Ltd Inc., and the Tenant, Marsh-Randolph. 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 2024-02-02.

The subject of this lease concerns the Entire unit 22 in Building 6 at the property located at 050 Alexander Greens Suite 232
Patricktown, NH 53401. This Office facility consists of approximately 38953 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-04-22, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $133,024.49. This figure is scheduled for an annual increase based on a 2.78% escalation rate. A security deposit of $266,048.98 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months with 180 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.

Per section 10.1, Marsh-Randolph 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 Stanley Ltd Inc.. Note the existence of a Co-tenancy Failure clause, which can be triggered with 180 days' notice and involves a penalty structured as 3 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-2024-6626",
  "parties": {
    "lessor_details": {
      "name": "Stanley Ltd Inc.",
      "entity_type": "Limited Partnership",
      "address": "766 Lane Union Apt. 224\nWest Aliciashire, IN 52625"
    },
    "lessee_details": {
      "name": "Marsh-Randolph",
      "entity_type": "LLC",
      "address": "1053 Estrada Station\nPort Cesarport, IA 35351"
    }
  },
  "property_details": {
    "address": "050 Alexander Greens Suite 232\nPatricktown, NH 53401",
    "property_type": "Office",
    "lease_area_description": "Entire unit 22 in Building 6",
    "square_footage_sqft": 38953
  },
  "lease_terms": {
    "effective_date": "2024-02-02",
    "commencement_date": "2024-04-22",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 180
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 180,
        "penalty_details": "3 months' rent plus unamortized transaction costs."
      },
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 60,
        "penalty_details": "3 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 133024.49,
      "annual_escalation_rate_percent": 2.78,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (21.31%)",
        "estimated_monthly_amount_usd": 19953.67
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (14.08%)",
        "estimated_monthly_amount_usd": 13302.45
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 266048.98
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Idaho",
  "document_status": "Amended",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 1000000,
      "named_insureds_required": [
        "Stanley Ltd Inc."
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Stanley Ltd Inc.",
        "Martin, Freeman and Jacobs Mortgage Corp."
      ]
    }
  ]
}