§ 12. Application. 1. Whenever the commission shall find that, in any\nmunicipality specified by the commission, (a) the percentage of\nvacancies in all or any particular class of housing accommodations is\nfive per centum or more, or, (b) the availability of adequate rental\nhousing accommodations and other relevant factors are such as to make\nrent control unnecessary for the purpose of eliminating speculative,\nunwarranted, and abnormal increases in rents and of preventing\nprofiteering and speculative and other disruptive practices resulting\nfrom abnormal market conditions caused by congestion, the controls\nimposed upon rents by authority of this act in such municipality or with\nrespect to any particular class of housing accommodations therein shall\nbe abolished in the manner hereinafter provided; provided however that,\nexcept as otherwise provided in this section, no controls shall be\nabolished by the commission unless the commission shall hold a public\nhearing or hearings on such proposal at which interested persons are\ngiven a reasonable opportunity to be heard. Notice of such hearing shall\nbe provided by publication in a daily newspaper published or having\ngeneral circulation in the municipality affected not less than fifteen\ndays prior to the date of the hearing.\n 2. Notwithstanding the provisions of this section or any other\nprovision of this act, the local governing body of a city, town or\nvillage upon a finding that decontrol in such city, town or village is\nwarranted after a public hearing upon notice by publication in a daily\nor weekly newspaper published or having general circulation in the city\nor town not less than twenty days prior to the date of hearing, and\nafter notice to the commission, may adopt a resolution to decontrol all\nor any specified class of housing accommodation in such city, town or\nvillage. Such resolution shall thereafter be filed with the division.\nUpon receipt of any such resolution the controls imposed by authority of\nthis act shall be abolished in the city, town or village affected with\nrespect to housing accommodations specified in such resolution in the\nmanner hereinafter specified. Notwithstanding the foregoing provisions\nof this paragraph, a city, town or village any portion of which is\nwithin the limits of an area designated as a critical defense housing\narea by the federal government at the time of adoption of the decontrol\nresolution, shall not become decontrolled without the approval of the\ncommission.\n 2-a. Upon the issuance of an order of decontrol or upon the filing of\na resolution resulting in decontrol of a housing accommodation pursuant\nto subdivision two, such decontrol shall take place:\n (a) if the landlord and tenant execute a written lease for a term of\nnot less than two years wherein the landlord agrees to maintain the same\nservices and equipment required by this act and which provides for an\nincrease in the maximum rent not in excess of fifteen percent for the\nfirst year and not more than a second five percent increase for the\nsecond year and otherwise continues the terms and conditions of the\nexisting tenancy; upon the execution of such lease;\n (b) if the landlord offers the tenant a lease in accordance with the\nterms provided in paragraph (a) and the tenant fails to execute such\nlease, six months from the date that the commission issued the order or\nthe date the municipality filed the resolution, provided that the\nlandlord has notified the tenant in writing by certified mail that his\nfailure to execute the lease within thirty days of such notification\nwill result in the decontrol of the housing accommodation on the date\nset forth therein, such date to be the expiration of such thirty days or\nsuch six months, whichever is later; or\n (c) if the landlord does not offer the tenant a lease in accordance\nwith the terms provided in paragraph (a), two years from the date the\ncommission issued the order or the municipa
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