; (III) access to, and use of, all boathouses, ramps, retaining walls, and other improvements for which access is provided in the permit for use of the property as of the date of enactment of this Act; and (IV) access to water for irrigation with a water service contract. (B) Period for conveyance The Secretary shall convey to a permittee a property pursuant to subparagraph (A) during the period— (i) beginning on the date of enactment of this Act; and (ii) ending on the date that is 5 years after that date of enactment. (4) Transfers to Board and State (A) Failure to purchase (i) In general If a permittee fails to exercise the option to purchase a property under paragraph (3) by the date that is 5 years after the date of enactment of this Act, the Secretary shall transfer the property to the Board, subject to clause (ii), without cost. (ii) Sale by Board of transferred property If the Board sells or enters into one or more agreements to sell a property transferred under clause (i) during the 3-year period beginning on the date of the transfer, the Board shall pay to the Secretary all proceeds of the sale that are in excess of the costs of the Board. (B) Certain other land Effective beginning on the date that is 5 years after the date of enactment of this Act, the Secretary shall transfer— (i) to the Board, without cost, Federal land managed by the Board as of that date of enactment, on which no cabin is located; and (ii) to the State, without cost, land leased by the State as of that date of enactment. (c) Oil, gas, mineral, and other outstanding rights Each conveyance to a permittee, and each transfer to the Board or State, pursuant to subsection (b) shall be made subject to— (1) oil, gas, and other mineral rights reserved of record, as of the date of enactment of this Act, by, or in favor of, the United States or a third party