<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-2024-6815
Status: Under Review
Governing Jurisdiction: Alabama

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Lopez-Ochoa Holdings, and the Tenant, Rivers, Winters and Jackson. 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 2024-01-06.

The subject of this lease concerns the Partial unit 46 in Building 7 at the property located at 5375 Lawson Gateway Suite 783
Mcdanielton, NM 48766. This Industrial facility consists of approximately 23469 rentable square feet and is designated for the purpose of Light manufacturing and assembly and ancillary administrative functions..

The lease commencement is scheduled for 2024-01-28, establishing an initial term of 3 years. The Tenant's monthly obligation for base rent begins at $57,557.72. This figure is scheduled for an annual increase based on a 2.98% escalation rate. A security deposit of $115,115.44 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 60 months with 90 days' prior notice. During any such renewal, the rent will be adjusted according to Fair Market Value. Any potential sublease of the premises requires Landlord's explicit consent.

Late payments of rent will accrue interest at a rate of 10.5% 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-2024-6815",
  "parties": {
    "lessor_details": {
      "name": "Lopez-Ochoa Holdings",
      "entity_type": "Limited Partnership",
      "address": "33463 Timothy Plaza\nJosephland, AZ 16898"
    },
    "lessee_details": {
      "name": "Rivers, Winters and Jackson",
      "entity_type": "LLC",
      "address": "24063 Williams Islands Suite 270\nYoungton, WA 03807"
    }
  },
  "property_details": {
    "address": "5375 Lawson Gateway Suite 783\nMcdanielton, NM 48766",
    "property_type": "Industrial",
    "lease_area_description": "Partial unit 46 in Building 7",
    "square_footage_sqft": 23469
  },
  "lease_terms": {
    "effective_date": "2024-01-06",
    "commencement_date": "2024-01-28",
    "initial_term_months": 36,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 60,
        "renewal_rate_adjustment": "Fair Market Value",
        "notice_period_days": 90
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 57557.72,
      "annual_escalation_rate_percent": 2.98,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (7.15%)",
        "estimated_monthly_amount_usd": 8633.66
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (9.95%)",
        "estimated_monthly_amount_usd": 5755.77
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 115115.44,
    "late_payment_interest_rate_percent": 10.5
  },
  "permitted_use": "Light manufacturing and assembly and ancillary administrative functions.",
  "governing_law_state": "Alabama",
  "document_status": "Under Review"
}