LAND CONVEYANCE, FORT CHAFFEE, ARKANSAS.

SEC. 2847. LAND CONVEYANCE, FORT CHAFFEE, ARKANSAS. (a) Conveyance.— The Secretary of the Army shall convey to the City of Fort Smith, Arkansas (in this section referred to as the “City”), all right, title, and interest (other than any oil, gas, or mineral interest) of the United States in and to a parcel of real property consisting of approximately 400 acres, together with improvements thereon, located at Fort Chaffee, Arkansas. (b) Consideration.— As consideration for the conveyance under subsection (a), the City— (1) shall provide the Army with such services at Fort Chaffee as the Secretary and the City shall jointly determine, the fair market value of which services shall be equal to the fair market value of the property conveyed pursuant to subsection (a): or (2) shall— (A) provide the Army with such services at Fort Chaffee as the Secretary and the City shall jointly determine; and (B) in the event that the fair market value of the property conveyed pursuant to subsection (a) exceeds the Fair market value of the services provided under subparagraph (A), pay to the Secretary the amount equal to such excess. (c) Determinations of Fair Market Value.— The Secretary shall determine the fair market value of the parcel of real property to be conveyed under subsection (a) and the value of the services, if any, to be provided under paragraph (1) or (2) of subsection (b). Such determinations shall be final. (d) Use of Proceeds.— The Secretary shall deposit the amount of the consideration, if any, paid under subsection (bK2)(B) in the account established under section 204(h) of the Federal Property and Administrative Services Act (40 U.S.C. 485(h)). (e) Description of Property.— The exact acreage and legal description of the parcel of land conveyed pursuant to this section 106 STAT. 2625shall be determined by a survey satisfactory to the Secretary. The cost of such survey shall be borne by the City. (f) Additional Terms and Conditions.— The Secretary may require any additional terms and renditions in connection with the conveyance under subsection (a) that the Secretary considers appropriate to protect the interests of the United States.