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The owners of multiple-family dwelling or dwelling group developments shall provide their tenants 120 daysnotice of their intent to terminate tenancies for the purpose of converting their developments to condominium ownership, and shall grant the tenants a 60-day right of first refusal to purchase their dwelling units as condominium estates. Neither the 120 daysnotice nor the 60-day right of first refusal shall commence to run prior to the owner’s establishment of a firm price for the involved condominium units. (Ord. 1841 § 1, 1978).