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Corporation that the Town, as a housing authority, will obligate <br />itself, among other ways, all of which being described in this <br />Agreement: to finance partially the initial purchases of the <br />Low - income Houses as described in this Agreement, to exercise its <br />rights of first refusal to insure compliance with the terms of this <br />Agreement, to re -sell the Low- income Houses to Low- and Very <br />Low- income Persons as is necessary to insure compliance with the terms <br />of this Agreement, to finance partially the Low- and Very Low - income <br />Persons' future purchases'of the Low- income Houses in amounts and on <br />terms described in this Agreement (which amounts may include part of <br />the Town's original mortgage balance for each Low - income House plus <br />the Town's Equity and Appreciation Share of each Low - income House), to <br />require that the Low - income Houses be used as owner - occupancy <br />residences rather than for rental purposes, and generally to <br />administer the Low - income House sales transactions as described in <br />this Agreement so as to effect the goals stated in this Agreement, <br />namely, that the Low - income Houses shall be available to Low- income <br />Persons, and shall become increasingly more available to Very <br />Low- income Persons, throughout the term of this Agreement. The Town <br />and the Corporation agree that the Town's agreement to facilitate this <br />availability is one of the considerations for the Corporation's <br />agreement to arrange for the Town's Equity and Appreciation Share in <br />and rights to purchase.the Low- income Houses (as described in Exhibit <br />H); thus conveyance of the Low - income Houses or any portion thereof <br />shall be for the purposes stated or referred to in this Agreement, and <br />none of the Low - income Houses shall be resold or conveyed or <br />encumbered in any manner in violation of the terms, covenants, <br />- 33 - <br />