<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-2024-8738
Status: Draft
Governing Jurisdiction: Wisconsin

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Young, Jackson and Hansen Properties, and the Tenant, Henry, Mueller and Navarro. 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 2024-04-03.

The subject of this lease concerns the Entire unit 23B in Building 3 at the property located at 11527 Cheryl Plaza Suite 974
Bryceport, NH 82267. This Retail facility consists of approximately 6491 rentable square feet and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2024-04-25, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $13,268.69. This figure is scheduled for an annual increase based on a 3.18% escalation rate. A security deposit of $13,268.69 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 is permitted subject to standard conditions.

Late payments of rent will accrue interest at a rate of 11.2% 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 12 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-2024-8738",
  "parties": {
    "lessor_details": {
      "name": "Young, Jackson and Hansen Properties",
      "entity_type": "Corporation",
      "address": "4864 Jimenez Inlet Apt. 063\nDavidfort, NE 45272"
    },
    "lessee_details": {
      "name": "Henry, Mueller and Navarro",
      "entity_type": "LLC",
      "address": "17482 Jacob Tunnel Apt. 178\nMillershire, CA 27015"
    }
  },
  "property_details": {
    "address": "11527 Cheryl Plaza Suite 974\nBryceport, NH 82267",
    "property_type": "Retail",
    "lease_area_description": "Entire unit 23B in Building 3",
    "square_footage_sqft": 6491
  },
  "lease_terms": {
    "effective_date": "2024-04-03",
    "commencement_date": "2024-04-25",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fixed 3% annual increase"
      }
    ],
    "requires_landlord_consent_for_sublease": false,
    "termination_clauses": [
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 90,
        "penalty_details": "12 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 13268.69,
      "annual_escalation_rate_percent": 3.18,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (13.21%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (21.98%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 13268.69,
    "late_payment_interest_rate_percent": 11.2
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Wisconsin",
  "document_status": "Draft"
}