That any tenant residing on the date the notice of intent was given in the building
or buildings to be converted shall have a period of time, which shall be stated in
the notice, from the date of receipt of such notice, as authorized by this section,
to purchase the unit occupied by the tenant on the date the notice is received on
terms and conditions which are substantially the same as or more favorable than those
which the owner extends to the public generally for the ninety (90) days following
the expiration of said tenants right to purchase as may be required by paragraph (2).
All notices required under this section shall be deemed to have been given when a
written notice is delivered in person or mailed by certified or registered mail, return
receipt requested, to the party to whom the notice is being given.
Whenever an owner is required to give notice of intent provided for in this section
the period of notice shall not be less than the expiration of any written agreement
between the owner and the tenant of the housing accommodation which governs the use
and occupancy of said housing accommodation or one year from the date the tenant of
such housing accommodation is given said notice of intent, whichever is greater; provided,
however, that in the case of a housing accommodation occupied in whole or in part
by a handicapped tenant or occupied by an elderly or low or moderate income tenant
the period of notice shall not be less than two (2) years from the date the tenant
of such housing accommodation received said notice of intent.
No person shall bring any action seeking a condominium or cooperative eviction until
the expiration of the periods of time for notice to tenants specified in this section.