<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-2024-4792
Status: Executed
Governing Jurisdiction: Washington

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Roberts-Fischer Holdings, and the Tenant, Fernandez and Sons. 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 2024-08-09.

The subject of this lease concerns the Partial floor 39B in Building 3 at the property located at PSC 7914, Box 8255
APO AE 55465. This Mixed-Use facility consists of approximately 39059 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-08-12, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $180,257.29. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $360,514.58 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 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 is permitted subject to standard conditions.

Per section 10.1, Fernandez and Sons 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 Roberts-Fischer Holdings. 

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-2024-4792",
  "parties": {
    "lessor_details": {
      "name": "Roberts-Fischer Holdings",
      "entity_type": "Corporation",
      "address": "8362 Carly Cliff Suite 546\nPort Steven, ME 10715"
    },
    "lessee_details": {
      "name": "Fernandez and Sons",
      "entity_type": "LLC",
      "address": "11355 Heather Garden\nNorth Bryan, RI 16273"
    }
  },
  "property_details": {
    "address": "PSC 7914, Box 8255\nAPO AE 55465",
    "property_type": "Mixed-Use",
    "lease_area_description": "Partial floor 39B in Building 3",
    "square_footage_sqft": 39059
  },
  "lease_terms": {
    "effective_date": "2024-08-09",
    "commencement_date": "2024-08-12",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%"
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 180257.29,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (9.02%)",
        "estimated_monthly_amount_usd": 27038.59
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (24.53%)",
        "estimated_monthly_amount_usd": 18025.73
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 360514.58
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Washington",
  "document_status": "Executed",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 2000000,
      "named_insureds_required": [
        "Roberts-Fischer Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Roberts-Fischer Holdings",
        "Woods-Anderson Mortgage Corp."
      ]
    }
  ]
}