1247. The obligation to grant an extended lease; in general.

Where a tenant1 of a house2 has a right3 to an extended lease and gives to the landlord4 written notice of his desire to have it, the landlord is bound5 to grant to the tenant, and the tenant to accept, in substitution for the existing tenancy6, a new tenancy of the house and premises7 for a term expiring 50 years after the term date