<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-2024-2496
Status: Draft
Governing Jurisdiction: Oklahoma

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Ayala-Gonzalez LLC, and the Tenant, Miller, Hall and Harris. 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 2024-03-29.

The subject of this lease concerns the Entire suite 43 in Building 10 at the property located at 568 Cooper Village Suite 357
Johnmouth, AS 49401. This Mixed-Use facility consists of approximately 33537 rentable square feet and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2024-05-25, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $84,010.18. This figure is scheduled for an annual increase based on a 3.75% escalation rate. A security deposit of $84,010.18 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 24 months with 90 days' prior notice. During any such renewal, the rent will be adjusted according to Fixed 3% annual increase. Any potential sublease of the premises is permitted subject to standard conditions.

Late payments of rent will accrue interest at a rate of 12.4% 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-2024-2496",
  "parties": {
    "lessor_details": {
      "name": "Ayala-Gonzalez LLC",
      "entity_type": "Corporation",
      "address": "918 Bryan Extensions Suite 295\nPort Christopher, KS 95157"
    },
    "lessee_details": {
      "name": "Miller, Hall and Harris",
      "entity_type": "Corporation",
      "address": "68278 Bishop Prairie Apt. 649\nNorth Grantland, NY 95027"
    }
  },
  "property_details": {
    "address": "568 Cooper Village Suite 357\nJohnmouth, AS 49401",
    "property_type": "Mixed-Use",
    "lease_area_description": "Entire suite 43 in Building 10",
    "square_footage_sqft": 33537
  },
  "lease_terms": {
    "effective_date": "2024-03-29",
    "commencement_date": "2024-05-25",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 24,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 90
      },
      {
        "option_number": 2,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fixed 3% annual increase",
        "notice_period_days": 180
      }
    ],
    "requires_landlord_consent_for_sublease": false
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 84010.18,
      "annual_escalation_rate_percent": 3.75,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (14.37%)",
        "estimated_monthly_amount_usd": 12601.53
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (19.44%)",
        "estimated_monthly_amount_usd": 8401.02
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 84010.18,
    "late_payment_interest_rate_percent": 12.4
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Oklahoma",
  "document_status": "Draft"
}