<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-2023-2349
Status: Under Review
Governing Jurisdiction: Vermont

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Marshall Ltd LLC, and the Tenant, Stanley PLC. 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 2023-10-09.

The subject of this lease concerns the Entire suite 43A in Building 4 at the property located at 82185 Anthony Freeway
Shannontown, AS 02081. This Retail 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 2023-10-23, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $78,009.99. This figure is scheduled for an annual increase based on a 1.84% escalation rate. A security deposit of $78,009.99 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 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.

Per section 10.1, Stanley PLC 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 Marshall Ltd LLC. Late payments of rent will accrue interest at a rate of 10.4% 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-2023-2349",
  "parties": {
    "lessor_details": {
      "name": "Marshall Ltd LLC",
      "entity_type": "LLC",
      "address": "66303 Adams Expressway\nSalazarland, MA 22742"
    },
    "lessee_details": {
      "name": "Stanley PLC",
      "entity_type": "LLC",
      "address": "937 Denise Center Apt. 445\nSouth Jason, IL 93079"
    }
  },
  "property_details": {
    "address": "82185 Anthony Freeway\nShannontown, AS 02081",
    "property_type": "Retail",
    "lease_area_description": "Entire suite 43A in Building 4"
  },
  "lease_terms": {
    "effective_date": "2023-10-09",
    "commencement_date": "2023-10-23",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 270
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 365
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 78009.99,
      "annual_escalation_rate_percent": 1.84,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (12.01%)",
        "estimated_monthly_amount_usd": 11701.5
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (17.08%)",
        "estimated_monthly_amount_usd": 7801.0
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 78009.99,
    "late_payment_interest_rate_percent": 10.4
  },
  "permitted_use": "General office and ancillary administrative functions.",
  "governing_law_state": "Vermont",
  "document_status": "Under Review",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Marshall Ltd LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Marshall Ltd LLC",
        "Miller, Calderon and Tran Mortgage Corp."
      ]
    }
  ]
}