<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-2023-3748
Status: Draft
Governing Jurisdiction: North Carolina

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Hatfield, Bailey and Rivers Properties, and the Tenant, Jordan-Rogers. 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 2023-10-11.

The subject of this lease concerns the Partial floor 6 in Building 6 at the property located at 25752 Martin Manor Suite 111
Hillside, TX 86592. This Industrial facility consists of the specified area and is designated for the purpose of General office and ancillary administrative functions..

The lease commencement is scheduled for 2023-11-16, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $139,681.04. This figure is scheduled for an annual increase based on a 3.79% escalation rate. A security deposit of $139,681.04 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months with 270 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 is permitted subject to standard conditions.

Late payments of rent will accrue interest at a rate of 9.7% 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-2023-3748",
  "parties": {
    "lessor_details": {
      "name": "Hatfield, Bailey and Rivers Properties",
      "entity_type": "LLC",
      "address": "895 Brian Hills Suite 972\nFrederickchester, PA 12091"
    },
    "lessee_details": {
      "name": "Jordan-Rogers",
      "entity_type": "LLC",
      "address": "13413 Jillian Creek Suite 366\nRosalesburgh, ND 62171"
    }
  },
  "property_details": {
    "address": "25752 Martin Manor Suite 111\nHillside, TX 86592",
    "property_type": "Industrial",
    "lease_area_description": "Partial floor 6 in Building 6"
  },
  "lease_terms": {
    "effective_date": "2023-10-11",
    "commencement_date": "2023-11-16",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 270
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 139681.04,
      "annual_escalation_rate_percent": 3.79,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (11.29%)",
        "estimated_monthly_amount_usd": 20952.16
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (8.52%)",
        "estimated_monthly_amount_usd": 13968.1
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 139681.04,
    "late_payment_interest_rate_percent": 9.7
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "North Carolina",
  "document_status": "Draft"
}