; and (B) make adjustments to the relative values involved in the conveyance of land under this section to compensate the Secretary or the State, as applicable, for assuming the costs or other responsibilities or requirements under subparagraph (A). (5) Adjustment If value is attributed to any parcel of unappropriated public land that has been selected by the State because of the presence of minerals under a lease under the Mineral Leasing Act ( 30 U.S.C. 181 et seq.) that is in a producing or producible status, the value of the parcel shall be reduced by the percentage that represents the likely Federal-revenue sharing obligation under that Act, but the adjustment shall not be considered to reflect a property right of the State. (g) Miscellaneous provisions (1) Hazardous materials The Secretary and the State shall make available for review and inspection any record relating to hazardous materials on land to be conveyed under this section. (2) Appurtenant water rights Any conveyance of a State land grant parcel or parcel of unappropriated public land under this section may include the conveyance of water rights appurtenant to the land conveyed. (3) Grazing permits (A) In general If land conveyed under this section is subject to a lease, permit, or contract for the grazing of domestic livestock in effect on the date of conveyance, the Secretary or the State, as applicable, shall allow the grazing to continue for the remainder of the term of the lease, permit, or contract, subject to the related terms and conditions of user agreements, including permitted stocking rates, grazing fee levels, access rights, and ownership and use of range improvements. (B) Renewal On expiration of any grazing lease, permit, or contract described in subparagraph (A), the party that has jurisdiction over the land on the date of expiration, may elect to renew the lease, permit, or contract if permitted under applicable law. (C) Cancellation (i) In general Nothing in this section prevents the Secretary or the State from canceling or