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conditions, and restrictions of this Agreement. No provision of this <br />Agreement is intended to or shall be merged by reason of any deed (s) <br />conveying title to any (or all) Low- income House(s) from the <br />Corporation or any others) to the Town or any other(s), or from the <br />Town or any other(s) to the Corporation or any other(s), and each such <br />deed shall not be deemed to affect or impair the provisions of this <br />Agreement. <br />The Town and the Corporation acknowledge that the effect of this <br />Agreement is that the Town, in exchange for a share of the equity and <br />appreciation of each Low- income House and the opportunity to reinvest <br />its investment in said Low- income Houses to help insure their <br />continued affordability to Low- income Persons, will preserve and <br />increase the availability of the Low- income Houses for the purchase by <br />t <br />and residential use of Low- and Very Low- income Persons through said <br />reinvestment in the Low- income Houses of the Town's Equity and <br />Appreciation Share and, in herein - defined instances, original mortgage <br />balance until termination wof this Agreement. Thus the Town and the <br />Corporation agree that the Town's failure to make any Low - income House <br />so available is a breach of this Agreement as to said Low - income House <br />such that the Town will be in Default as to said Low- income House. <br />The Corporation agrees and covenants with the Town that it will enter <br />into contracts requiring that the Town receive a share of the equity <br />and appreciation of and a right of first refusal to purchase each <br />Low - income House (i.e., pursuant to the terms of a Shared Equity <br />Agreement) only if, when the Town is in Default as to any Low- income <br />House, the Town, at the Corporation's request, shall assign and /or <br />convey, as the case may be, to the Corporation its interest in the <br />- 34 - <br />