(5) With respect to Buyout Agreements entered into on or after the effective date of the ordinance in Board File No. 250926, include the following statement in a size equal to at least 14-point type: “Under Section 317.2 of the Planning Code, a tenant who is displaced by a project to demolish their building may be entitled to relocation assistance or other benefits. By entering into this agreement you may be giving up relocation assistance and other benefits that you are or may become entitled to under the law.” Immediately after this statement, there shall be a line for each tenant to affix their initials.
(6) Include the address of the rental unit in question, as well as the Assessor’s Parcel Number (lot and block) of the building where the unit is located.
A Buyout Agreement that does not satisfy all the requirements of subsections (f)(1)-(5) shall not be effective and may be rescinded by the tenant at any time. A Buyout Agreement that does not include the initials of each tenant next to each of the statements described in subsections (f)(2)-(5), as well as the initials of each tenant next to his or answer to the question listed in subsection (f)(4), shall not be effective and may be rescinded by the tenant at any time.
(g) Rescission of Buyout Agreements. A tenant shall have the right to rescind a Buyout Agreement for up to and including 45 days after its execution by all parties. In order to rescind a Buyout Agreement under this subsection (g), the tenant must, on or before the 45th day following the execution of the Buyout Agreement by all parties, hand deliver, email, or place in the mail a statement to the landlord indicating that the tenant has rescinded the Buyout Agreement.