Page:United States Statutes at Large Volume 120.djvu/2692

 PUBLIC LAW 109–377—DEC. 1, 2006

120 STAT. 2661

(A) the approximately 35 acres of non-Federal land in the County, as generally depicted on the map entitled ‘‘Ryan Land Exchange-Ryan Property Conveyance to Forest Service’’ and dated August 2004; and (B) the approximately 18.2 acres of non-Federal land located on Smuggler Mountain in the County, as generally depicted on the map entitled ‘‘Ryan Land Exchange-Smuggler Mountain-Grand Turk & Pontiac Claims Conveyance to Forest Service’’ and dated August 2004. (5) SECRETARY.—The term ‘‘Secretary’’ means the Secretary of Agriculture. SEC. 4. LAND EXCHANGE.

(a) IN GENERAL.—If the County offers to convey to the United States title to the non-Federal land that is acceptable to the Secretary, the Secretary and the Secretary of the Interior shall— (1) accept the offer; and (2) on receipt of acceptable title to the non-Federal land, simultaneously convey to the County, or at the request of the County, to the Aspen Valley Land Trust, all right, title, and interest of the United States in and to the Federal land, except as provided in section 5(d), subject to all valid existing rights and encumbrances. (b) TIMING.—It is the intent of Congress that the land exchange directed by this Act shall be completed not later than 1 year after the date of enactment of this Act.

Deadline.

SEC. 5. EXCHANGE TERMS AND CONDITIONS.

(a) EQUAL VALUE EXCHANGE.—The value of the Federal land and non-Federal land— (1) shall be equal; or (2) shall be made equal in accordance with subsection (c). (b) APPRAISALS.—The value of the Federal land and non-Federal land shall be determined by the Secretary through appraisals conducted in accordance with— (1) the Uniform Appraisal Standards for Federal Land Acquisitions; (2) the Uniform Standards of Professional Appraisal Practice; and (3) Forest Service appraisal instructions. (c) EQUALIZATION OF VALUES.— (1) SURPLUS OF NON-FEDERAL LAND.—If the final appraised value of the non-Federal land exceeds the final appraised value of the Federal land, the County shall donate to the United States the excess value of the non-Federal land, which shall be considered to be a donation for all purposes of law. (2) SURPLUS OF FEDERAL LAND.— (A) IN GENERAL.—If the final appraised value of the Federal land exceeds the final appraised value of the nonFederal land, the value of the Federal land and non-Federal land may, as the Secretary and the County determine to be appropriate, be equalized by the County— (i) making a cash equalization payment to the Secretary; (ii) conveying to the Secretary certain land located in the County, comprising approximately 160 acres,

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