(ii) Where a lease was executed before the
local effective date for a term of one, two or three years commencing before
the local effective date but providing for one or more rent increases to
commence on or after the local effective date, no such increases shall be
effective to increase the initial legal regulated rent, except that effective
on or after the first day of the month next succeeding the date of filing of
the guidelines with the division by the Rent Guidelines Board for the county
wherein the property is located, which guidelines are applicable to the class
of housing accommodations within the building, the initial legal regulated rent
may then be increased commencing on the date or dates provided for in the lease
or on the first of the month next succeeding the date of filing of the
guidelines, whichever is the later date, to the lower of the following rents:
(a) the rent in the increased amount provided
for in the lease; or
(b) the
initial legal regulated rent increased by the applicable rate of rent
adjustment for the lease term pursuant to the guidelines;
provided the landlord first serves on the tenant a
written notice setting forth the new legal regulated rent and the method of
computation thereof pursuant to this
section.
(6) Same terms and conditions.