In any case where rights and interests in real property have been reconveyed or leased back to a person by a municipality or a department, the use of land subject thereto shall not be changed, and no residential, industrial or commercial construction except for the use of the owner or his or her family shall be undertaken, except with the consent of the legislative body of the municipality or the department or except as specifically provided in the instrument evidencing the reconveyance or lease. In the event of the termination of any rights or interests of such person, the legislative body of the municipality or the department shall pay to such person an amount equal to the fair market value of that portion of such right which remained unexpired on the date of such termination, unless such termination is caused by the breach by such person of a term of the instrument by which he acquired such right or interest. In any case of acquisition subject to a right of occupancy and use, or acquisition and reconveyance, or acquisition and lease, under subsection 6303(a) of this title, the legislative body or department shall give priority to the grantor thereof in selecting the grantee or lessee, as the case may be. (Added 1969, No. 229 (Adj. Sess.), § 5.)