<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-2024-6691
Status: Amended
Governing Jurisdiction: Colorado

This abstract summarizes the key terms of the fully executed lease agreement between the Landlord, Davenport-Rice LLC, and the Tenant, Sawyer, Walker and Odonnell. 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 2024-05-25.

The subject of this lease concerns the Partial suite 27B in Building 4 at the property located at 73308 Shaw Street Suite 990
West Corey, KY 13764. This Mixed-Use facility consists of approximately 44079 rentable square feet and is designated for the purpose of Professional services and ancillary administrative functions..

The lease commencement is scheduled for 2024-06-14, establishing an initial term of 7 years. The Tenant's monthly obligation for base rent begins at $170,108.21. This figure is scheduled for an annual increase based on a 2.11% escalation rate. A security deposit of $170,108.21 has been furnished by the Tenant.

The Tenant holds an option to extend the lease for an additional 36 months. 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, Sawyer, Walker and Odonnell is required to maintain, at minimum, a Commercial General Liability policy of $5,000,000. The certificate of insurance must name all parties as stipulated, including Davenport-Rice LLC. Late payments of rent will accrue interest at a rate of 6.5% 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-2024-6691",
  "parties": {
    "lessor_details": {
      "name": "Davenport-Rice LLC",
      "entity_type": "Corporation"
    },
    "lessee_details": {
      "name": "Sawyer, Walker and Odonnell",
      "entity_type": "LLC",
      "address": "54793 Yolanda Mission Suite 282\nMillsshire, NC 32452"
    }
  },
  "property_details": {
    "address": "73308 Shaw Street Suite 990\nWest Corey, KY 13764",
    "property_type": "Mixed-Use",
    "lease_area_description": "Partial suite 27B in Building 4",
    "square_footage_sqft": 44079
  },
  "lease_terms": {
    "effective_date": "2024-05-25",
    "commencement_date": "2024-06-14",
    "initial_term_months": 84,
    "option_to_renew": [
      {
        "option_number": 1,
        "duration_months": 36,
        "renewal_rate_adjustment": "CPI-U Adjustment, not to exceed 4%"
      }
    ],
    "requires_landlord_consent_for_sublease": true
  },
  "financial_terms": {
    "base_rent_details": {
      "initial_monthly_rent_usd": 170108.21,
      "annual_escalation_rate_percent": 2.11,
      "escalation_frequency": "Annually"
    },
    "additional_rent_components": [
      {
        "component_name": "Operating Expenses (CAM)",
        "basis": "Pro Rata Share (9.02%)",
        "estimated_monthly_amount_usd": 25516.23
      },
      {
        "component_name": "Property Taxes",
        "basis": "Pro Rata Share (17.58%)",
        "estimated_monthly_amount_usd": 17010.82
      },
      {
        "component_name": "HVAC Maintenance Contract",
        "basis": "Fixed Annual Fee"
      }
    ],
    "security_deposit_usd": 170108.21,
    "late_payment_interest_rate_percent": 6.5
  },
  "permitted_use": "Professional services and ancillary administrative functions.",
  "governing_law_state": "Colorado",
  "document_status": "Amended",
  "insurance_requirements": [
    {
      "coverage_type": "Commercial General Liability",
      "minimum_coverage_amount_usd": 5000000,
      "named_insureds_required": [
        "Davenport-Rice LLC"
      ]
    },
    {
      "coverage_type": "Property (All Risk/Special Form)",
      "minimum_coverage_amount_usd": 25000000,
      "named_insureds_required": [
        "Davenport-Rice LLC",
        "Garcia and Sons Mortgage Corp."
      ]
    }
  ]
}