City Bank Farmers Trust Co. v. Seconset Corp.

We think Special Term correctly held that the lease was a graduated lease and was intended by the Legislature to be excluded from the “ rent freeze ” provisions of the emergency rent laws. The statutes creating the exemption do not distinguish between graduated leases which provide for a graduation in rent between the rent freeze date and the expiration of the lease, and those which do not so provide. The fact that the lease here involved does not provide for a graduation in rent between the rent freeze date and the expiration of the lease, although it does graduate the rent for other…