<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-2024-1340
Status: Amended
Governing Jurisdiction: New York

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Fletcher-Whitehead Properties, and the Tenant, Rodriguez LLC. 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 2024-02-06.

The subject of this lease concerns the Entire unit 47B in Building 3 at the property located at 34326 Ramirez Lock Apt. 159
South Joshua, MH 14833. This Retail facility consists of approximately 16182 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-02-27, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $47,629.02. This figure is scheduled for an annual increase based on a 2.9% escalation rate. A security deposit of $95,258.04 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 180 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.

Late payments of rent will accrue interest at a rate of 14.1% per annum. Note the existence of a Landlord Recapture Right clause, which can be triggered with 90 days' notice and involves a penalty structured as 11 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-2024-1340",
  "parties": {
    "lessor_details": {
      "name": "Fletcher-Whitehead Properties",
      "entity_type": "Corporation"
    },
    "lessee_details": {
      "name": "Rodriguez LLC",
      "entity_type": "Corporation",
      "address": "PSC 8120, Box 1716\nAPO AA 60375"
    }
  },
  "property_details": {
    "address": "34326 Ramirez Lock Apt. 159\nSouth Joshua, MH 14833",
    "property_type": "Retail",
    "lease_area_description": "Entire unit 47B in Building 3",
    "square_footage_sqft": 16182
  },
  "lease_terms": {
    "effective_date": "2024-02-06",
    "commencement_date": "2024-02-27",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 180
      },
      {
        "option_number": 2,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 365
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 90,
        "penalty_details": "11 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 47629.02,
      "annual_escalation_rate_percent": 2.9,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (13.40%)",
        "estimated_monthly_amount_usd": 7144.35
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (9.42%)",
        "estimated_monthly_amount_usd": 4762.9
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 95258.04,
    "late_payment_interest_rate_percent": 14.1
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "New York",
  "document_status": "Amended"
}