<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-2024-4447
Status: Amended
Governing Jurisdiction: Missouri

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Adams Inc Properties, and the Tenant, Cantu-Doyle. 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 2024-04-03.

The subject of this lease concerns the Partial floor 25A in Building 3 at the property located at 22460 Elijah Well
Port Gregoryview, NV 17725. This Retail facility consists of the specified area and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2024-05-30, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $123,563.60. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $123,563.60 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 Fair Market Value. Any potential sublease of the premises requires Landlord's explicit consent.

Per section 10.1, Cantu-Doyle 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 Adams Inc Properties. Late payments of rent will accrue interest at a rate of 11.8% per annum. Note the existence of a Landlord Recapture Right clause, which can be triggered with 90 days' notice and involves a penalty structured as 7 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-2024-4447",
  "parties": {
    "lessor_details": {
      "name": "Adams Inc Properties",
      "entity_type": "Limited Partnership",
      "address": "60559 Sharon Greens\nPort Garyburgh, PW 26996"
    },
    "lessee_details": {
      "name": "Cantu-Doyle",
      "entity_type": "LLC",
      "address": "820 Day Unions\nLake Tiffany, IN 85618"
    }
  },
  "property_details": {
    "address": "22460 Elijah Well\nPort Gregoryview, NV 17725",
    "property_type": "Retail",
    "lease_area_description": "Partial floor 25A in Building 3"
  },
  "lease_terms": {
    "effective_date": "2024-04-03",
    "commencement_date": "2024-05-30",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 365
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 90,
        "penalty_details": "7 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 123563.6,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (8.42%)",
        "estimated_monthly_amount_usd": 18534.54
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (16.66%)",
        "estimated_monthly_amount_usd": 12356.36
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 123563.6,
    "late_payment_interest_rate_percent": 11.8
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Missouri",
  "document_status": "Amended",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 1000000,
      "named_insureds_required": [
        "Adams Inc Properties"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Adams Inc Properties",
        "Morse-Washington Mortgage Corp."
      ]
    }
  ]
}