<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-2023-8703
Status: Under Review
Governing Jurisdiction: Maine

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Gomez, Kirk and Marsh LLC, and the Tenant, Oconnor, Walker and Gomez. 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 2023-09-11.

The subject of this lease concerns the Entire unit 26 in Building 1 at the property located at 633 Gary Camp
Mercadoborough, MA 15058. This Mixed-Use facility consists of approximately 37429 rentable square feet and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2023-10-14, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $48,844.85. This figure is scheduled for an annual increase based on a 2.76% escalation rate. A security deposit of $97,689.70 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 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, Oconnor, Walker and Gomez 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 Gomez, Kirk and Marsh LLC. 

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-2023-8703",
  "parties": {
    "lessor_details": {
      "name": "Gomez, Kirk and Marsh LLC",
      "entity_type": "LLC"
    },
    "lessee_details": {
      "name": "Oconnor, Walker and Gomez",
      "entity_type": "LLC",
      "address": "0195 Karen Manors Apt. 079\nWest Brendahaven, TN 25919"
    }
  },
  "property_details": {
    "address": "633 Gary Camp\nMercadoborough, MA 15058",
    "property_type": "Mixed-Use",
    "lease_area_description": "Entire unit 26 in Building 1",
    "square_footage_sqft": 37429
  },
  "lease_terms": {
    "effective_date": "2023-09-11",
    "commencement_date": "2023-10-14",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 90
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 48844.85,
      "annual_escalation_rate_percent": 2.76,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (13.13%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (23.90%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 97689.7
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Maine",
  "document_status": "Under Review",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 1000000,
      "named_insureds_required": [
        "Gomez, Kirk and Marsh LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Gomez, Kirk and Marsh LLC",
        "Moore-Williams Mortgage Corp."
      ]
    }
  ]
}