In the event that any “dangerous building” is found within this city, the Council or such officer as may be designated by the Council, must notify in writing by mail, the owner, occupant, lessee, mortgagee, agent and all other persons having an interest in the building as shown by the records of the County Auditor of the County of Hennepin, of any building so found. The notice must state the requirement that the owner must vacate or demolish the building in accordance with the terms of the notice and this subchapter; the occupant or lessee must vacate said building, or may have it repaired in accordance with the notice and remain in possession, or the mortgagees, agents or other persons having an interest in said building may at their own risk, repair, vacate or demolish the building or have the work or act done, and the notice must state that such persons must be given such reasonable time as may be necessary to do or have done the work or act required by the notice provided for herein.
('72 Code, § 1005:15)