<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-2024-9209
Status: Executed
Governing Jurisdiction: Nebraska

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, White, Johnson and Harris LLC, and the Tenant, Fisher, Moss and Shaw. 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 2024-04-13.

The subject of this lease concerns the Partial unit 45 in Building 7 at the property located at 5642 Lynch Forks Apt. 596
Raymondstad, RI 00773. This Office facility consists of approximately 18428 rentable square feet and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2024-06-05, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $72,790.60. This figure is scheduled for an annual increase based on a 3.67% escalation rate. A security deposit of $145,581.20 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 Fixed 3% annual increase. Any potential sublease of the premises is permitted subject to standard conditions.

Per section 10.1, Fisher, Moss and Shaw 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 White, Johnson and Harris LLC. Late payments of rent will accrue interest at a rate of 8.2% 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-2024-9209",
  "parties": {
    "lessor_details": {
      "name": "White, Johnson and Harris LLC",
      "entity_type": "Corporation",
      "address": "96959 Wilson Highway Suite 426\nLopezton, AZ 34297"
    },
    "lessee_details": {
      "name": "Fisher, Moss and Shaw",
      "entity_type": "Corporation",
      "address": "85307 Harris Forks Apt. 943\nBrookeport, FL 67689"
    }
  },
  "property_details": {
    "address": "5642 Lynch Forks Apt. 596\nRaymondstad, RI 00773",
    "property_type": "Office",
    "lease_area_description": "Partial unit 45 in Building 7",
    "square_footage_sqft": 18428
  },
  "lease_terms": {
    "effective_date": "2024-04-13",
    "commencement_date": "2024-06-05",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 365
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 72790.6,
      "annual_escalation_rate_percent": 3.67,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (5.68%)",
        "estimated_monthly_amount_usd": 10918.59
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (11.81%)",
        "estimated_monthly_amount_usd": 7279.06
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 145581.2,
    "late_payment_interest_rate_percent": 8.2
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Nebraska",
  "document_status": "Executed",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "White, Johnson and Harris LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "White, Johnson and Harris LLC",
        "Perry and Sons Mortgage Corp."
      ]
    }
  ]
}