<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-2024-9691
Status: Under Review
Governing Jurisdiction: Colorado

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Evans-Taylor LLC, and the Tenant, Adams, Nunez and Lee. 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 2024-07-24.

The subject of this lease concerns the Entire suite 6B in Building 8 at the property located at PSC 7795, Box 3267
APO AA 95661. This Retail facility consists of approximately 22415 rentable square feet and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2024-10-12, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $80,731.36. This figure is scheduled for an annual increase based on a 3.82% escalation rate. A security deposit of $80,731.36 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 CPI-U Adjustment, not to exceed 4%. Any potential sublease of the premises requires Landlord's explicit consent.

Per section 10.1, Adams, Nunez and Lee 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 Evans-Taylor LLC. Late payments of rent will accrue interest at a rate of 7.9% per annum. Note the existence of a Tenant Early Termination Option clause, which can be triggered with 90 days' notice and involves a penalty structured as 8 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-2024-9691",
  "parties": {
    "lessor_details": {
      "name": "Evans-Taylor LLC",
      "entity_type": "LLC"
    },
    "lessee_details": {
      "name": "Adams, Nunez and Lee",
      "entity_type": "Corporation",
      "address": "932 Omar Port\nEast Veronicachester, CO 32530"
    }
  },
  "property_details": {
    "address": "PSC 7795, Box 3267\nAPO AA 95661",
    "property_type": "Retail",
    "lease_area_description": "Entire suite 6B in Building 8",
    "square_footage_sqft": 22415
  },
  "lease_terms": {
    "effective_date": "2024-07-24",
    "commencement_date": "2024-10-12",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%"
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fixed 3% annual increase"
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Tenant Early Termination Option",
        "notice_period_days": 90,
        "penalty_details": "8 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 80731.36,
      "annual_escalation_rate_percent": 3.82,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (6.22%)",
        "estimated_monthly_amount_usd": 12109.7
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (13.56%)",
        "estimated_monthly_amount_usd": 8073.14
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 80731.36,
    "late_payment_interest_rate_percent": 7.9
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Colorado",
  "document_status": "Under Review",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Evans-Taylor LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Evans-Taylor LLC",
        "Anderson-Garcia Mortgage Corp."
      ]
    }
  ]
}