<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-2024-3269
Status: Amended
Governing Jurisdiction: Arizona

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Gomez, Rivera and Williams Holdings, and the Tenant, Roberts LLC. 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 2024-05-02.

The subject of this lease concerns the Entire unit 9A in Building 9 at the property located at 56943 Munoz Garden
Amandafort, TN 20976. This Warehouse facility consists of approximately 34461 rentable square feet and is designated for the purpose of Retail sales of goods and ancillary administrative functions..

The lease commencement is scheduled for 2024-07-28, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $124,088.32. This figure is scheduled for an annual increase based on a 4.0% escalation rate. A security deposit of $124,088.32 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 Greater of Fair Market Value or previous rent + 3%. Any potential sublease of the premises is permitted subject to standard conditions.

Per section 10.1, Roberts LLC is required to maintain, at minimum, a Commercial General Liability policy of $2,000,000. The certificate of insurance must name all parties as stipulated, including Gomez, Rivera and Williams Holdings. Late payments of rent will accrue interest at a rate of 16.2% 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-2024-3269",
  "parties": {
    "lessor_details": {
      "name": "Gomez, Rivera and Williams Holdings",
      "entity_type": "Corporation"
    },
    "lessee_details": {
      "name": "Roberts LLC",
      "entity_type": "S-Corp",
      "address": "93145 Torres Hills Apt. 308\nDixonberg, SD 50461"
    }
  },
  "property_details": {
    "address": "56943 Munoz Garden\nAmandafort, TN 20976",
    "property_type": "Warehouse",
    "lease_area_description": "Entire unit 9A in Building 9",
    "square_footage_sqft": 34461
  },
  "lease_terms": {
    "effective_date": "2024-05-02",
    "commencement_date": "2024-07-28",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 270
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 124088.32,
      "annual_escalation_rate_percent": 4.0,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (23.36%)",
        "estimated_monthly_amount_usd": 18613.25
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (22.69%)",
        "estimated_monthly_amount_usd": 12408.83
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 124088.32,
    "late_payment_interest_rate_percent": 16.2
  },
  "permitted_use": "Retail sales of goods and ancillary administrative functions.",
  "governing_law_state": "Arizona",
  "document_status": "Amended",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 2000000,
      "named_insureds_required": [
        "Gomez, Rivera and Williams Holdings"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Gomez, Rivera and Williams Holdings",
        "Young Inc Mortgage Corp."
      ]
    }
  ]
}