(a) Any party to whom notice is required to be given may waive their rights at any time pursuant to a written waiver signed by a duly authorized representative, which waiver shall terminate all of their rights under this chapter.
(b) For the purposes of the chapter, termination or expiration of a use restriction or a Section 8 (42 U.S.C. § 1437f) assistance contract does not include a termination or expiration which is immediately succeeded, without lapse, by an agreement or contract which embodies terms no less favorable to the tenants residing in the federally insured or assisted rental units than the prior agreement or contract.