<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-2024-9300
Status: Amended
Governing Jurisdiction: South Dakota

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Pena, Medina and Stevens Inc., and the Tenant, Wall-Graham. 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 2024-02-26.

The subject of this lease concerns the Partial suite 22B in Building 1 at the property located at 1476 Brooks Springs
Lake Alex, KS 11941. This Industrial facility consists of approximately 39402 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-05-21, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $182,989.45. This figure is scheduled for an annual increase based on a 2.0% escalation rate. A security deposit of $182,989.45 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months. During any such renewal, the rent will be adjusted according to Greater of Fair Market Value or previous rent + 3%. Any potential sublease of the premises requires Landlord's explicit consent.

Late payments of rent will accrue interest at a rate of 17.7% per annum. Note the existence of a Tenant Early Termination Option clause, which can be triggered with 60 days' notice and involves a penalty structured as 5 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-2024-9300",
  "parties": {
    "lessor_details": {
      "name": "Pena, Medina and Stevens Inc.",
      "entity_type": "Corporation",
      "address": "629 Mccarthy Path\nMalonetown, WA 95435"
    },
    "lessee_details": {
      "name": "Wall-Graham",
      "entity_type": "LLC"
    }
  },
  "property_details": {
    "address": "1476 Brooks Springs\nLake Alex, KS 11941",
    "property_type": "Industrial",
    "lease_area_description": "Partial suite 22B in Building 1",
    "square_footage_sqft": 39402
  },
  "lease_terms": {
    "effective_date": "2024-02-26",
    "commencement_date": "2024-05-21",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%"
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 60,
        "penalty_details": "5 months' rent plus unamortized transaction costs."
      },
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 180,
        "penalty_details": "4 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 182989.45,
      "annual_escalation_rate_percent": 2.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (16.11%)",
        "estimated_monthly_amount_usd": 27448.42
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (15.75%)",
        "estimated_monthly_amount_usd": 18298.94
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 182989.45,
    "late_payment_interest_rate_percent": 17.7
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "South Dakota",
  "document_status": "Amended"
}