Section 761. Redemption by lessee

Where the special proceeding is founded
  upon an allegation that a lessee holds  over  after  a  default  in  the
  payment  of  rent,  and  the unexpired term of the lease under which the
  premises are held exceeds five years at the time  when  the  warrant  is
  issued  the lessee, his executor, administrator or assignee, at any time
  within one year after the execution of the warrant, unless by the  terms
  of  the lease such lessee shall have waived his right to redeem, or such
  lessee, executor, administrator  or  assignee  shall  have  subsequently
  waived the right to redeem by a written instrument filed and recorded in
  the office in which the lease is recorded, or if not so recorded, in the
  office in which deeds are required to be recorded of the county in which
  the  leased  premises  are located, may pay or tender to the petitioner,
  his heir, executor, administrator or assignee, or if, within  five  days
  before  the  expiration  of  the year he cannot be found with reasonable
  diligence within the city or town wherein  the  property  or  a  portion
  thereof  is  situated,  then  to the court which issued the warrant, all
  rent in arrears at the time of  the  payment  or  tender  with  interest
  thereupon  and  the  costs  and  charges  incurred  by  the  petitioner.
  Thereupon the person making the payment or tender shall be  entitled  to
  the  possession of the demised premises under the lease and may hold and
  enjoy the same according to the terms of the original demise, except  as
  otherwise prescribed in section 765.