(a) All tenants in a conversion condominium development shall be offered an option in writing, exercisable within not less than 120 days after notice, to purchase a condominium ownership interest in the development, and after the expiration of the 120 day period, tenants choosing not to purchase a condominium ownership interest shall be given written notice of not less than 120 days, and if the tenant is an elderly or handicapped tenant, written notice of not less than 180 days, prior to being require to vacate the premises to facilitate the conversion. At the time a tenant is offered an option to purchase as provided herein, the developer shall also provide such tenant with a copy of this chapter, or a summary thereof, which the developer may obtain from the Building Commissioner.
(b) A tenant choosing not to purchase a condominium unit may waive his option and notice as provided in subsection (a) hereof, providing the tenant acknowledges in writing that he understands that the developer shall in reliance upon the tenant's waiver and agreement to vacate by a certain date, be entering into a contract to sell to parties other than the tenant and deliver possession of the condominium unit prior to the expirtion of the 120 days or, if the tenant is elderly or handicapped, 180 days, notice periods. A waiver in a lease shall not be considered a waiver of a tenant's rights to be given an option and notice as provided in subsection (a) hereof.
(c) A tenant whose written lease remains in effect beyond the option and notice periods provided in subsection (b) hereof, shall be entitled to remain in the apartment throughout the term set forth in such lease.
(d) This section shall not apply to evictions for purposes other than for the purpose of converting an apartment into a condominium.
(Ord. 6-1983. Passed 2-14-83.)