<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-2023-2478
Status: Executed
Governing Jurisdiction: Kansas

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Edwards Inc Inc., and the Tenant, Dunn, Roberts and Thompson. 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 2023-11-16.

The subject of this lease concerns the Partial suite 3A in Building 9 at the property located at 55339 Rebecca Grove Suite 332
Katietown, MO 01042. This Office facility consists of the specified area and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2023-12-09, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $3,015.49. This figure is scheduled for an annual increase based on a 1.69% escalation rate. A security deposit of $3,015.49 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, Dunn, Roberts and Thompson 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 Edwards Inc Inc.. Late payments of rent will accrue interest at a rate of 9.2% 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-2023-2478",
  "parties": {
    "lessor_details": {
      "name": "Edwards Inc Inc.",
      "entity_type": "Limited Partnership",
      "address": "5127 Walter Mission\nTroyfurt, MP 70786"
    },
    "lessee_details": {
      "name": "Dunn, Roberts and Thompson",
      "entity_type": "LLC",
      "address": "64707 Taylor Branch\nPatriciamouth, MD 22850"
    }
  },
  "property_details": {
    "address": "55339 Rebecca Grove Suite 332\nKatietown, MO 01042",
    "property_type": "Office",
    "lease_area_description": "Partial suite 3A in Building 9"
  },
  "lease_terms": {
    "effective_date": "2023-11-16",
    "commencement_date": "2023-12-09",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 365
      },
      {
        "option_number": 2,
        "duration_months": 60,
        "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": 3015.49,
      "annual_escalation_rate_percent": 1.69,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (7.36%)",
        "estimated_monthly_amount_usd": 452.32
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (8.78%)",
        "estimated_monthly_amount_usd": 301.55
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 3015.49,
    "late_payment_interest_rate_percent": 9.2
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Kansas",
  "document_status": "Executed",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Edwards Inc Inc."
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Edwards Inc Inc.",
        "Summers, Hayes and Price Mortgage Corp."
      ]
    }
  ]
}