<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-2023-7849
Status: Under Review
Governing Jurisdiction: Kansas

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Ramos, Moore and Carter LLC, and the Tenant, Brown Group. 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 2023-09-17.

The subject of this lease concerns the Entire unit 45A in Building 3 at the property located at 8216 Taylor Grove Apt. 080
Hollandmouth, FM 69102. This Warehouse facility consists of approximately 3455 rentable square feet and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2023-10-21, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $6,236.27. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $12,472.54 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 90 days' prior notice. During any such renewal, the rent will be adjusted according to CPI-U Adjustment, not to exceed 4%. Any potential sublease of the premises requires Landlord's explicit consent.

Per section 10.1, Brown Group 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 Ramos, Moore and Carter LLC. Late payments of rent will accrue interest at a rate of 6.4% per annum. Note the existence of a Landlord Recapture Right 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-2023-7849",
  "parties": {
    "lessor_details": {
      "name": "Ramos, Moore and Carter LLC",
      "entity_type": "Limited Partnership",
      "address": "986 Amy Dam\nChristinashire, GU 91397"
    },
    "lessee_details": {
      "name": "Brown Group",
      "entity_type": "Corporation",
      "address": "Unit 9872 Box 4326\nDPO AA 79739"
    }
  },
  "property_details": {
    "address": "8216 Taylor Grove Apt. 080\nHollandmouth, FM 69102",
    "property_type": "Warehouse",
    "lease_area_description": "Entire unit 45A in Building 3",
    "square_footage_sqft": 3455
  },
  "lease_terms": {
    "effective_date": "2023-09-17",
    "commencement_date": "2023-10-21",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 90
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 180,
        "penalty_details": "3 months' rent plus unamortized transaction costs."
      },
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 90,
        "penalty_details": "11 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 6236.27,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (15.82%)",
        "estimated_monthly_amount_usd": 935.44
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (20.78%)",
        "estimated_monthly_amount_usd": 623.63
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 12472.54,
    "late_payment_interest_rate_percent": 6.4
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Kansas",
  "document_status": "Under Review",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 2000000,
      "named_insureds_required": [
        "Ramos, Moore and Carter LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Ramos, Moore and Carter LLC",
        "Todd LLC Mortgage Corp."
      ]
    }
  ]
}