<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-2023-9623
Status: Executed
Governing Jurisdiction: Pennsylvania

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Sutton Ltd Holdings, and the Tenant, Moore Ltd. 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 2023-09-11.

The subject of this lease concerns the Partial unit 34A in Building 9 at the property located at 7221 Houston Gardens Suite 874
Chapmanhaven, NH 74766. This Warehouse facility consists of approximately 27613 rentable square feet and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2023-10-16, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $48,621.89. This figure is scheduled for an annual increase based on a 1.5% escalation rate. A security deposit of $48,621.89 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 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, Moore Ltd is required to maintain, at minimum, a Commercial General Liability policy of $5,000,000. The certificate of insurance must name all parties as stipulated, including Sutton Ltd Holdings. Late payments of rent will accrue interest at a rate of 11.1% per annum. 

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-2023-9623",
  "parties": {
    "lessor_details": {
      "name": "Sutton Ltd Holdings",
      "entity_type": "LLC"
    },
    "lessee_details": {
      "name": "Moore Ltd",
      "entity_type": "S-Corp",
      "address": "289 Frederick Underpass Suite 849\nGabrielachester, WY 36942"
    }
  },
  "property_details": {
    "address": "7221 Houston Gardens Suite 874\nChapmanhaven, NH 74766",
    "property_type": "Warehouse",
    "lease_area_description": "Partial unit 34A in Building 9",
    "square_footage_sqft": 27613
  },
  "lease_terms": {
    "effective_date": "2023-09-11",
    "commencement_date": "2023-10-16",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 365
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 48621.89,
      "annual_escalation_rate_percent": 1.5,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (25.0%)",
        "estimated_monthly_amount_usd": 7293.28
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (23.02%)",
        "estimated_monthly_amount_usd": 4862.19
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 48621.89,
    "late_payment_interest_rate_percent": 11.1
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Pennsylvania",
  "document_status": "Executed",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Sutton Ltd Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Sutton Ltd Holdings",
        "Edwards, Sanchez and Greene Mortgage Corp."
      ]
    }
  ]
}