<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-2023-6390
Status: Under Review
Governing Jurisdiction: South Dakota

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Moore Ltd Holdings, and the Tenant, Anderson LLC. 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 2023-09-02.

The subject of this lease concerns the Partial floor 1A in Building 4 at the property located at 4676 Cisneros Causeway
New Crystal, AS 62163. This Office facility consists of approximately 23236 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2023-09-29, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $109,112.38. This figure is scheduled for an annual increase based on a 3.35% escalation rate. A security deposit of $218,224.76 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months with 270 days' prior notice. During any such renewal, the rent will be adjusted according to Fair Market Value. Any potential sublease of the premises is permitted subject to standard conditions.

Per section 10.1, Anderson LLC 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 Moore Ltd Holdings. Late payments of rent will accrue interest at a rate of 11.1% per annum. Note the existence of a Co-tenancy Failure clause, which can be triggered with 90 days' notice and involves a penalty structured as 11 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-2023-6390",
  "parties": {
    "lessor_details": {
      "name": "Moore Ltd Holdings",
      "entity_type": "LLC",
      "address": "16005 Gibbs Roads Suite 217\nPort Raymondshire, WY 48152"
    },
    "lessee_details": {
      "name": "Anderson LLC",
      "entity_type": "Corporation",
      "address": "87244 Brittany Trail Apt. 520\nMeghanview, AZ 82325"
    }
  },
  "property_details": {
    "address": "4676 Cisneros Causeway\nNew Crystal, AS 62163",
    "property_type": "Office",
    "lease_area_description": "Partial floor 1A in Building 4",
    "square_footage_sqft": 23236
  },
  "lease_terms": {
    "effective_date": "2023-09-02",
    "commencement_date": "2023-09-29",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 270
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 90
      }
    ],
    "requires_landlord_consent_for_sublease": false,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 90,
        "penalty_details": "11 months' rent plus unamortized transaction costs."
      },
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 60,
        "penalty_details": "11 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 109112.38,
      "annual_escalation_rate_percent": 3.35,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (21.93%)",
        "estimated_monthly_amount_usd": 16366.86
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (13.49%)",
        "estimated_monthly_amount_usd": 10911.24
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 218224.76,
    "late_payment_interest_rate_percent": 11.1
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "South Dakota",
  "document_status": "Under Review",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Moore Ltd Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Moore Ltd Holdings",
        "Williams, Brown and Flores Mortgage Corp."
      ]
    }
  ]
}