<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-2024-2746
Status: Under Review
Governing Jurisdiction: South Carolina

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Adams Ltd Holdings, and the Tenant, Bowman PLC. 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 2024-06-25.

The subject of this lease concerns the Entire unit 37B in Building 10 at the property located at 883 Gibson Stream Apt. 510
East Amanda, GA 61486. This Mixed-Use facility consists of the specified area and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2024-08-24, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $50,487.06. This figure is scheduled for an annual increase based on a 2.7% escalation rate. A security deposit of $50,487.06 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months with 365 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 is permitted subject to standard conditions.

Per section 10.1, Bowman PLC is required to maintain, at minimum, a Commercial General Liability policy of $5,000,000. The certificate of insurance must name all parties as stipulated, including Adams Ltd Holdings. Late payments of rent will accrue interest at a rate of 14.9% 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-2024-2746",
  "parties": {
    "lessor_details": {
      "name": "Adams Ltd Holdings",
      "entity_type": "Corporation",
      "address": "1677 Hill Extension\nCobbfort, TX 48262"
    },
    "lessee_details": {
      "name": "Bowman PLC",
      "entity_type": "Corporation",
      "address": "8586 Christine Forges\nOsbornview, KY 85791"
    }
  },
  "property_details": {
    "address": "883 Gibson Stream Apt. 510\nEast Amanda, GA 61486",
    "property_type": "Mixed-Use",
    "lease_area_description": "Entire unit 37B in Building 10"
  },
  "lease_terms": {
    "effective_date": "2024-06-25",
    "commencement_date": "2024-08-24",
    "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": 365
      },
      {
        "option_number": 2,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 180
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 50487.06,
      "annual_escalation_rate_percent": 2.7,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (6.00%)",
        "estimated_monthly_amount_usd": 7573.06
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (14.74%)",
        "estimated_monthly_amount_usd": 5048.71
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 50487.06,
    "late_payment_interest_rate_percent": 14.9
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "South Carolina",
  "document_status": "Under Review",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Adams Ltd Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Adams Ltd Holdings",
        "Diaz, Alexander and Woods Mortgage Corp."
      ]
    }
  ]
}