2. The tenant or respondent shall not be entitled to the stay unless
he shall deposit with the clerk of the court the rent then due, which
shall, for the purposes of this section, be deemed the same as the
tenant was liable for during the preceding month or such as is reserved
as the monthly rent in the agreement under which he obtained possession
of the premises. The stay may be vacated upon three days' notice upon
failure to deposit with the clerk the rent within five days after it is
due, during the pendency of the proceeding or action.