<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-2023-9498
Status: Amended
Governing Jurisdiction: Wyoming

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Huff-Alexander Properties, and the Tenant, Hale-Hines. 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 2023-12-21.

The subject of this lease concerns the Entire floor 50B in Building 1 at the property located at 1438 Roberto Station
North Blake, GU 03722. This Office 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 2024-03-16, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $3,015.62. This figure is scheduled for an annual increase based on a 1.86% escalation rate. A security deposit of $3,015.62 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months. During any such renewal, the rent will be adjusted according to Greater of Fair Market Value or previous rent + 3%. Any potential sublease of the premises is permitted subject to standard conditions.

Per section 10.1, Hale-Hines 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 Huff-Alexander Properties. Late payments of rent will accrue interest at a rate of 8.8% 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-2023-9498",
  "parties": {
    "lessor_details": {
      "name": "Huff-Alexander Properties",
      "entity_type": "Corporation",
      "address": "4960 Nancy Knolls Apt. 387\nEast Gregoryburgh, NY 31797"
    },
    "lessee_details": {
      "name": "Hale-Hines",
      "entity_type": "S-Corp",
      "address": "42688 Kennedy Place Suite 288\nMeaganville, SD 65165"
    }
  },
  "property_details": {
    "address": "1438 Roberto Station\nNorth Blake, GU 03722",
    "property_type": "Office",
    "lease_area_description": "Entire floor 50B in Building 1"
  },
  "lease_terms": {
    "effective_date": "2023-12-21",
    "commencement_date": "2024-03-16",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%"
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 3015.62,
      "annual_escalation_rate_percent": 1.86,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (19.27%)",
        "estimated_monthly_amount_usd": 452.34
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (12.41%)",
        "estimated_monthly_amount_usd": 301.56
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 3015.62,
    "late_payment_interest_rate_percent": 8.8
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Wyoming",
  "document_status": "Amended",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Huff-Alexander Properties"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Huff-Alexander Properties",
        "Romero-Jones Mortgage Corp."
      ]
    }
  ]
}