; (C) if the title to or interest in the working waterfront is sold or otherwise exchanged— (i) all working waterfront owners and qualified holders involved in such sale or exchange shall accede to such agreement; and (ii) funds equal to the fair market value of the working waterfront or interest in working waterfront shall be paid to the Secretary by parties to the sale or exchange, and such funds shall, at the discretion of the Secretary, be paid to the coastal state in which the working waterfront is located for use in the implementation of the working waterfront plan of the State approved by the Secretary under this section; and (D) such covenant is subject to enforcement and oversight by the coastal state or by another person as determined appropriate by the Secretary. .