Page:United States Statutes at Large Volume 114 Part 2.djvu/419

 PUBLIC LAW 106-330 —OCT. 19, 2000 114 STAT. 1301 Standards for Federal Land Acquisition published by the Department of Justice. (2) APPRAISAL COST.— The Center shall pay the cost of the appraisal of the property. (3) TIME FOR PAYMENT.— The consideration determined under paragraph (1) shall be paid, at the option of the Center— (A) in full not later than 180 days after the date Deadline, of conveyance of the property; or (B) in 7 equal annual installments commencing on January 1 of the first year beginning after the conveyance and annually thereafter until the total amount has been paid. (4) INTEREST. —Any payment due for the conveyance of property under this section shall accrue interest, beginning on the date of the conveyance, at an annual rate of 3 percent on the unpaid balance. (c) RELEASE, —Subject to compliance with all Federal environmental laws prior to conveyance, the Center, upon acquisition of the property under this section, shall agree in writing to hold the United States harmless from any and all claims to the property, including all claims resulting from hazardous materials conveyed on the lands. (d) RIGHT OF REENTRY.—At any time before full payment is made for the conveyance of the property under this section, the conveyance shall be subject to a right of reentry in the United States if the Secretary determines that— (1) the Center has not complied with the requirements of this section or the conditions prescribed by the Secretary in the deed of conveyance; or (2) the conveyed land is converted to a noneducational or for profit use. (e) ALTERNATIVE PROPERTY DISPOSAL AUTHORITY. — In the event that the Center does not contract with the Secretary to acquire the property described in this section within 18 months of the date of the enactment of this Act, the Secretary may dispose of the property in the manner provided in section 2. SEC. 4. DISPOSITION OF FUNDS. (a) DEPOSIT IN SISK ACT FUND. —The Secretary shall deposit the proceeds of a sale or exchange under this Act in the fund established under Public Law 90-171 (16 U.S.C. 484a; commonly known as the Sisk Act). (b) USE OF PROCEEDS.— Funds deposited under subsection (a) shall be available to the Secretary, without further appropriation, for— (1) the acquisition, construction, or improvement of administrative facilities for units of the National Forest System in the State of Texas; or

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