<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-2023-8660
Status: Amended
Governing Jurisdiction: New Hampshire

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Cooper, Rivers and Yates Properties, and the Tenant, Green 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 2023-11-09.

The subject of this lease concerns the Entire unit 14A in Building 6 at the property located at 36739 Stokes Spurs Suite 658
Jamesland, AZ 10805. This Industrial facility consists of approximately 18303 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-02-05, establishing an initial term of 10 years. The Tenant's monthly obligation for base rent begins at $50,516.28. This figure is scheduled for an annual increase based on a 2.49% escalation rate. A security deposit of $101,032.56 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 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 requires Landlord's explicit consent.

Per section 10.1, Green LLC is required to maintain, at minimum, a Commercial General Liability policy of $1,000,000. The certificate of insurance must name all parties as stipulated, including Cooper, Rivers and Yates Properties. Late payments of rent will accrue interest at a rate of 15.2% per annum. Note the existence of a Landlord Recapture Right clause, which can be triggered with 180 days' notice and involves a penalty structured as 3 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-2023-8660",
  "parties": {
    "lessor_details": {
      "name": "Cooper, Rivers and Yates Properties",
      "entity_type": "LLC",
      "address": "1390 Perez Station Apt. 378\nNew Kristi, KS 06236"
    },
    "lessee_details": {
      "name": "Green LLC",
      "entity_type": "S-Corp",
      "address": "3108 Hernandez Ridges\nWesleyburgh, FL 65120"
    }
  },
  "property_details": {
    "address": "36739 Stokes Spurs Suite 658\nJamesland, AZ 10805",
    "property_type": "Industrial",
    "lease_area_description": "Entire unit 14A in Building 6",
    "square_footage_sqft": 18303
  },
  "lease_terms": {
    "effective_date": "2023-11-09",
    "commencement_date": "2024-02-05",
    "initial_term_months": 120,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%",
        "notice_period_days": 270
      }
    ],
    "requires_landlord_consent_for_sublease": true,
    "termination_clauses": [
      {
        "clause_type": "Landlord Recapture Right",
        "notice_period_days": 180,
        "penalty_details": "3 months' rent plus unamortized transaction costs."
      }
    ]
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 50516.28,
      "annual_escalation_rate_percent": 2.49,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (5.32%)",
        "estimated_monthly_amount_usd": 7577.44
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (18.98%)",
        "estimated_monthly_amount_usd": 5051.63
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 101032.56,
    "late_payment_interest_rate_percent": 15.2
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "New Hampshire",
  "document_status": "Amended",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 1000000,
      "named_insureds_required": [
        "Cooper, Rivers and Yates Properties"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 10000000,
      "named_insureds_required": [
        "Cooper, Rivers and Yates Properties",
        "Hunter, Guerrero and Wu Mortgage Corp."
      ]
    }
  ]
}