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(a) sell the Low - income Houses for $92,000.00 so <br />as to enable Buyers to qualify for NCHFA financing; <br />(b) purchase from the first Buyer of each <br />Low- income House for the Town's use described below a share of the <br />equity and appreciation of the Low-- income House (hereinafter "Equity <br />and Appreciation Share" as defined in Exhibit H) then being purchased <br />and a right of first refusal to buy said Low - income House, said <br />agreement being in material accordance with the terms of a Shared <br />Equity Agreement; <br />(c) arrange for a low- interest loan (i.e., <br />approximately .25% below the interest rate being offered by the <br />Veterans Administration or' the Farmers Home Administration) or some <br />other financing arrangement from Permanent Lender(s) in the <br />t <br />approximate minimum amount of $77,500.00 for 15 of the first Buyers of <br />Low - income Houses, each said loan to be secured by a Permanent <br />Lender's Lien and to be on terms permitting Low- income Persons to <br />qualify therefor; .. <br />(d) arrange for a low- interest loan (i.e., <br />approximately 8.25 %) from Permanent Lender(s) in the approximate <br />minimum amount of $70,000.00 for 15 of the first Buyers of Low - income <br />Houses, each said loan to be secured by a Permanent Lender's Lien; <br />(e) arrange for $112,500.00 in loan funds from <br />NCHFA, said funds being contemplated, but not required, to be <br />allocated as $7,500.00 loans for each of the 15 first Buyers who <br />obtain their First Mortgage Loan using NCHFA first mortgage funds, <br />with each said loan to be secured by a NCHFA Deed of Trust; and <br />- 13 - <br />