<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-2024-8487
Status: Amended
Governing Jurisdiction: Indiana

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Jackson LLC Properties, and the Tenant, Dominguez and Sons. 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 2024-03-28.

The subject of this lease concerns the Partial suite 43 in Building 3 at the property located at 748 Tiffany Field Apt. 421
Tabithaport, NH 95200. This Office facility consists of approximately 49089 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-04-15, establishing an initial term of 5 years. The Tenant's monthly obligation for base rent begins at $198,605.91. This figure is scheduled for an annual increase based on a 1.96% escalation rate. A security deposit of $397,211.82 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 180 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 requires Landlord's explicit consent.

Note the existence of a Co-tenancy Failure clause, which can be triggered with 90 days' notice and involves a penalty structured as 10 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-2024-8487",
  "parties": {
    "lessor_details": {
      "name": "Jackson LLC Properties",
      "entity_type": "Limited Partnership",
      "address": "73450 Williams Meadow\nWest Edwardton, GU 46961"
    },
    "lessee_details": {
      "name": "Dominguez and Sons",
      "entity_type": "LLC",
      "address": "9326 Hall Roads Suite 153\nLake Linda, WV 43763"
    }
  },
  "property_details": {
    "address": "748 Tiffany Field Apt. 421\nTabithaport, NH 95200",
    "property_type": "Office",
    "lease_area_description": "Partial suite 43 in Building 3",
    "square_footage_sqft": 49089
  },
  "lease_terms": {
    "effective_date": "2024-03-28",
    "commencement_date": "2024-04-15",
    "initial_term_months": 60,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Greater of Fair Market Value or previous rent + 3%",
        "notice_period_days": 180
      },
      {
        "option_number": 2,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 270
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Co-tenancy Failure",
        "notice_period_days": 90,
        "penalty_details": "10 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 198605.91,
      "annual_escalation_rate_percent": 1.96,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (14.54%)"
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (14.87%)"
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 397211.82
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Indiana",
  "document_status": "Amended"
}