<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-2024-6470
Status: Draft
Governing Jurisdiction: Maine

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Sawyer-Gonzalez LLC, and the Tenant, Clark, Wilson and Brown. 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 2024-04-22.

The subject of this lease concerns the Entire floor 48B in Building 2 at the property located at 920 Hamilton Loop
Michaelberg, WI 55655. This Mixed-Use facility consists of the specified area and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-05-04, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $30,675.03. This figure is scheduled for an annual increase based on a 2.69% escalation rate. A security deposit of $30,675.03 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months. During any such renewal, the rent will be adjusted according to Fixed 3% annual increase. Any potential sublease of the premises requires Landlord's explicit consent.

Per section 10.1, Clark, Wilson and Brown 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 Sawyer-Gonzalez LLC. 

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-2024-6470",
  "parties": {
    "lessor_details": {
      "name": "Sawyer-Gonzalez LLC",
      "entity_type": "Corporation",
      "address": "1194 Chelsea Ferry\nLaurenstad, RI 58133"
    },
    "lessee_details": {
      "name": "Clark, Wilson and Brown",
      "entity_type": "Corporation",
      "address": "074 Higgins Forest Apt. 269\nJoneschester, SC 45747"
    }
  },
  "property_details": {
    "address": "920 Hamilton Loop\nMichaelberg, WI 55655",
    "property_type": "Mixed-Use",
    "lease_area_description": "Entire floor 48B in Building 2"
  },
  "lease_terms": {
    "effective_date": "2024-04-22",
    "commencement_date": "2024-05-04",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fixed 3% annual increase"
      },
      {
        "option_number": 2,
        "duration_months": 36,
        "renewal_rate_adjustment": "Fair Market Value"
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 30675.03,
      "annual_escalation_rate_percent": 2.69,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (11.72%)",
        "estimated_monthly_amount_usd": 4601.25
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (17.97%)",
        "estimated_monthly_amount_usd": 3067.5
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 30675.03
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Maine",
  "document_status": "Draft",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Sawyer-Gonzalez LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Sawyer-Gonzalez LLC",
        "Holland, Brady and Miller Mortgage Corp."
      ]
    }
  ]
}