<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-2024-5216
Status: Under Review
Governing Jurisdiction: Nebraska

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Brown, Cisneros and Peterson LLC, and the Tenant, Green-Jones. 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 2024-06-21.

The subject of this lease concerns the Entire floor 4A in Building 8 at the property located at 15016 Aaron Valleys
Lindsaytown, GA 52146. This Warehouse facility consists of approximately 16961 rentable square feet and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2024-09-07, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $77,568.31. This figure is scheduled for an annual increase based on a 2.45% escalation rate. A security deposit of $155,136.62 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 CPI-U Adjustment, not to exceed 4%. Any potential sublease of the premises requires Landlord's explicit consent.

Per section 10.1, Green-Jones 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 Brown, Cisneros and Peterson LLC. Late payments of rent will accrue interest at a rate of 13.1% per annum. Note the existence of a Tenant Early Termination Option clause, which can be triggered with 90 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-2024-5216",
  "parties": {
    "lessor_details": {
      "name": "Brown, Cisneros and Peterson LLC",
      "entity_type": "LLC",
      "address": "20655 Michael Oval\nTeresatown, ME 97707"
    },
    "lessee_details": {
      "name": "Green-Jones",
      "entity_type": "S-Corp",
      "address": "9278 Johnny Mount Suite 250\nSouth Lucas, UT 22358"
    }
  },
  "property_details": {
    "address": "15016 Aaron Valleys\nLindsaytown, GA 52146",
    "property_type": "Warehouse",
    "lease_area_description": "Entire floor 4A in Building 8",
    "square_footage_sqft": 16961
  },
  "lease_terms": {
    "effective_date": "2024-06-21",
    "commencement_date": "2024-09-07",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%"
      },
      {
        "option_number": 2,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fair Market Value"
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 90,
        "penalty_details": "4 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 77568.31,
      "annual_escalation_rate_percent": 2.45,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (16.85%)",
        "estimated_monthly_amount_usd": 11635.25
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (25.0%)",
        "estimated_monthly_amount_usd": 7756.83
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 155136.62,
    "late_payment_interest_rate_percent": 13.1
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Nebraska",
  "document_status": "Under Review",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 1000000,
      "named_insureds_required": [
        "Brown, Cisneros and Peterson LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Brown, Cisneros and Peterson LLC",
        "Strong, Davis and Lang Mortgage Corp."
      ]
    }
  ]
}