<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-2024-2477
Status: Draft
Governing Jurisdiction: Alaska

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Santana-Hughes LLC, and the Tenant, Murray 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 2024-07-15.

The subject of this lease concerns the Entire floor 32B in Building 3 at the property located at Unit 6252 Box 0116
DPO AP 68834. This Office facility consists of approximately 46929 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-09-24, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $155,374.10. This figure is scheduled for an annual increase based on a 1.63% escalation rate. A security deposit of $155,374.10 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 Fixed 3% annual increase. Any potential sublease of the premises requires Landlord's explicit consent.

Per section 10.1, Murray 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 Santana-Hughes LLC. Note the existence of a Tenant Early Termination Option clause, which can be triggered with 60 days' notice and involves a penalty structured as 4 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-2024-2477",
  "parties": {
    "lessor_details": {
      "name": "Santana-Hughes LLC",
      "entity_type": "LLC",
      "address": "118 Nicole Crest Apt. 443\nGoodstad, TN 39708"
    },
    "lessee_details": {
      "name": "Murray PLC",
      "entity_type": "Corporation",
      "address": "72233 Smith Knoll\nSethberg, DE 88307"
    }
  },
  "property_details": {
    "address": "Unit 6252 Box 0116\nDPO AP 68834",
    "property_type": "Office",
    "lease_area_description": "Entire floor 32B in Building 3",
    "square_footage_sqft": 46929
  },
  "lease_terms": {
    "effective_date": "2024-07-15",
    "commencement_date": "2024-09-24",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 365
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 60,
        "penalty_details": "4 months' rent plus unamortized transaction costs."
      },
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 90,
        "penalty_details": "12 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 155374.1,
      "annual_escalation_rate_percent": 1.63,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (10.12%)",
        "estimated_monthly_amount_usd": 23306.12
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (5.62%)",
        "estimated_monthly_amount_usd": 15537.41
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 155374.1
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Alaska",
  "document_status": "Draft",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Santana-Hughes LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Santana-Hughes LLC",
        "Scott-Garcia Mortgage Corp."
      ]
    }
  ]
}