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Attoruey-Client Privileged <br />retain tit}e afkeX coatpensatiiag thc frderal gavernment with a pcrcentage of cwrrent fair <br />market valne PmPortivnatc ta the £ederal aontrxbutiaA; (2) it may scll thn pmperty a3od <br />compensats the fedr.zal gavernment with a sLarc of the fair market procoeds <br />proportianste to tha fedexal coatribatim afttx tessonablc selling expe,nses: (3) it nsay <br />transfr-r titie ta the fedard.l goR?emmeut in excLangt #ox compensation proportionate to <br />itr cantribution to tha fair mmket valuc af tho prapesty. Natc that the redpieat maY <br />consbino a fedcYal awatd with athcr saurccs of funding ta acquire real propGrty, hut it <br />must still be ablc to emsure tbat the praporiy is managed in accordancc with tbc nse <br />roqwire-raeuts oE the fcderal uward, must accaunt frsr the peroentaga of fuxxds from eaeh <br />snuroe used in the acqu,isitaoa, aad mnst rac,ompexLSe t}ie awardin8 aSencY for the faderal <br />altare of tLe value of the acqtxirad ProPerh'• <br />Uader 43 C.F.R. § 12.937, resl pxaperty, equipment, intaagible propcrty Rud de6t <br />instruments "uirad or impraved with ficdersl fuads aro hold in trust by the grant <br />racipient fior the bcncficiaries of the pmject Qr program under which tha PropertY was <br />acquired. Agencics may require recipicnts to record liens ar other aPPmPdate notioos of <br />resord tv iudicate that fr_daraI ivnds were usad in its aoquisihon or itnpravcmcnt and <br />that use and dispvsition coudiHosts apply to rhc propGrty. Complianca with the <br />pepartmeatal rcgvIaticma regarding disposal of la:fd intcrests doas nat neoessadly relieve <br />the grant recipitnt ar othex iAterasted parties of the tteed to compIy with the <br />requirraacnu of tbe Endangtrad Spccics Act. <br />Interrsts In Land <br />Interests in rea] praperty snay range fram fuU See titie M tlae properiy to Iessor interests <br />such as oasements ax coveaants wbich grzuot cyr relinquish rights ta a pazticutax use iof the <br />propariy, Tbe Qptions Paper identific.s multiple possibilitiGS for arquiring intemsts in <br />land, each of wbic,h ofbcxs certain bonefiu under partioular circumstances. Thc primarY <br />oonsideration far tht? Ikpartment is whothor acquiting a particutar typv of interest will <br />furtber tha fedeTal purposes of thc grant or a,Wsta.nce program funding the iateresk As <br />noted, the regula6aas at 43 C.F.R_ Iltle 12 require that intcrests in land helcl by other <br />parLies be subject to usc auad diapositioa rcquirtments est4blashed by the awarding <br />agcncy. Therefore, any of the options dcscribcd in tha Optiaw Paper waruld be subject <br />to rr.quf3rements ressoasbly presc,ribcd by the Departtnent foc oacL type of interest. <br />AcoordiogIy, we recommend that a Yist of acceptabla options far tbe recipient to usc in <br />acquirixsg interests in land, and the oonditioas governing ca.ch sucb xAterest, be <br />incarporated into any grant or coopsrative agreGment entered inta by the Servicx or the <br />8ureau. The follawiqg subscdirnas address oonveatianal interests in 1and. <br />a Land Furchases <br />4