8-2-8: EXISTING TENANTS IN CONDOMINIUM CONVERSIONS:
   A.   For tenant families containing at least one member of the household who is sixty five (65) years of age or older, or who is physically or mentally disabled, or for tenant families containing two (2) or more children as part of the household, eviction (other than for cause) shall be delayed beyond the term of their existing lease for a period of not less than six (6) months from the date of the filing of the declaration.
   B.   Each tenant in a conversion project shall receive a copy of the property report. For a period of thirty (30) days following the date the tenant receives a copy of the property report, the tenant shall have the right of first refusal on the unit he/she occupies. This provision shall not reduce the rights provided under the act.
   C.   The developer in a condominium conversion shall include in the contract of sale for each condominium unit clauses which shall read as follows:
Seller hereby grants to any purchaser who is an existing tenant at the time of notice of conversion, a period of fifteen (15) days following the date this contract is signed within which to review the Condominium documents made available to the purchaser pursuant to the provisions of the village code.
and,
Notwithstanding any other provision of this contract to the contrary, if the tenant-purchaser is not satisfied with the said Condominium documents, the tenant-purchaser may, at his election, by written notice to the seller at any time prior to the fifteenth day following the date this contract is signed by the tenant-purchaser, terminate his contract, and the tenant-purchaser's deposit shall be refunded and the parties hereto shall have no further rights or liabilities under this contract.
The clause in the sales contract which provides for the fifteen (15) day cooling off period shall be located:
      1.   Either immediately above the purchaser's signature, or
      2.   Under a conspicuous caption entitled "TENANT-PURCHASER'S RIGHT TO CANCEL".
The rights of tenant-purchasers under this section shall not be waived in the contract of sale and any attempted waiver thereof shall be void and of no force and effect. (Ord. 2013-29, 6-13-2013)