<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-2024-9816
Status: Executed
Governing Jurisdiction: New Mexico

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Taylor, Washington and Morris Holdings, and the Tenant, Brown 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 2024-05-31.

The subject of this lease concerns the Entire suite 49 in Building 9 at the property located at 75446 Calderon Mountain Apt. 240
Lake Taylorchester, UT 26356. This Warehouse facility consists of approximately 16405 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-06-09, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $71,648.84. This figure is scheduled for an annual increase based on a 2.1% escalation rate. A security deposit of $143,297.68 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 90 days' prior notice. 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.



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-2024-9816",
  "parties": {
    "lessor_details": {
      "name": "Taylor, Washington and Morris Holdings",
      "entity_type": "Limited Partnership",
      "address": "214 Benjamin Court Suite 657\nEast Ebony, MN 53633"
    },
    "lessee_details": {
      "name": "Brown PLC",
      "entity_type": "Corporation",
      "address": "733 Michael Vista Suite 495\nPort Josephbury, KY 56247"
    }
  },
  "property_details": {
    "address": "75446 Calderon Mountain Apt. 240\nLake Taylorchester, UT 26356",
    "property_type": "Warehouse",
    "lease_area_description": "Entire suite 49 in Building 9",
    "square_footage_sqft": 16405
  },
  "lease_terms": {
    "effective_date": "2024-05-31",
    "commencement_date": "2024-06-09",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 90
      },
      {
        "option_number": 2,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 90
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 71648.84,
      "annual_escalation_rate_percent": 2.1,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (8.81%)",
        "estimated_monthly_amount_usd": 10747.33
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (17.47%)",
        "estimated_monthly_amount_usd": 7164.88
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 143297.68
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "New Mexico",
  "document_status": "Executed"
}