The September 1995 agreement that plaintiff landlord seeks to rescind in this action commenced in May 2006 provides that "in the event that [the] Rent Stabilization law ... becomes inapplicable to the apartment or the [defendants] Tenants, [plaintiff] ... will nevertheless, at the expiration of each lease, offer [defendants] a two-year renewal lease at the rent increase permitted for a two-year renewal under the Rent Stabilization law," but in no event shall such increase...
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