CONVEYANCE OF THE PROJECT.

SEC. 503. CONVEYANCE OF THE PROJECT. (a) In General.— As soon as practicable after date of the enactment of this Act and in accordance with all applicable law, the Secretary shall convey all right, title, and interest in and to the Project to the District. (b) Sale Price.— Except as provided in subsection (c), on payment by the District to the Secretary of $2,772,221— (1) the District shall be relieved of all payment obligations relating to the Project; and (2) all debt under the Water Services Contract shall be extinguished. (c) Mitigation and Restoration Payments.— The District shall continue to be obligated to make payments under section 3407(c) of the Central Valley Project Improvement Act (106 Stat. 4726) through 2029.