<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-2023-2430
Status: Under Review
Governing Jurisdiction: South Dakota

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Mata-Davis Holdings, and the Tenant, Rowe, Peters and Hunter. 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 2023-08-15.

The subject of this lease concerns the Entire suite 49 in Building 4 at the property located at 62862 David Row Apt. 246
Wrightside, TN 27642. This Retail facility consists of the specified area and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2023-11-08, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $61,888.88. This figure is scheduled for an annual increase based on a 3.47% escalation rate. A security deposit of $61,888.88 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 Fair Market Value. Any potential sublease of the premises is permitted subject to standard conditions.



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-2023-2430",
  "parties": {
    "lessor_details": {
      "name": "Mata-Davis Holdings",
      "entity_type": "LLC",
      "address": "87736 Maria Track Suite 438\nEast Dennis, TX 38884"
    },
    "lessee_details": {
      "name": "Rowe, Peters and Hunter",
      "entity_type": "LLC"
    }
  },
  "property_details": {
    "address": "62862 David Row Apt. 246\nWrightside, TN 27642",
    "property_type": "Retail",
    "lease_area_description": "Entire suite 49 in Building 4"
  },
  "lease_terms": {
    "effective_date": "2023-08-15",
    "commencement_date": "2023-11-08",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 365
      },
      {
        "option_number": 2,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 365
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 61888.88,
      "annual_escalation_rate_percent": 3.47,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (6.51%)",
        "estimated_monthly_amount_usd": 9283.33
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (5.40%)",
        "estimated_monthly_amount_usd": 6188.89
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 61888.88
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "South Dakota",
  "document_status": "Under Review"
}