in Sunnyvale, California in exchange for property interests that meet the readiness requirements of the Department of the Navy, as determined by the Secretary. (b) Land exchange agreement Exchange of the real property identified in subsection (a) shall be governed by a land exchange agreement that identifies the property interests to be exchanged pursuant to this section, the time period in which the exchange will occur, and the roles and responsibilities of the Secretary and the Exchange Entity in effecting the land exchange. (c) Covenants and restrictions The conveyance under subsection (a) shall be subject to the condition that the Exchange Entity accepts the NIROP real property with the covenants, restrictions, and other clauses required by section 120(h) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 ( 42 U.S.C. 9620(h) ). (d) Valuation The value of the property interests to be exchanged by the Secretary and the Exchange Entity pursuant to this section shall be determined— (1) by an independent appraiser selected by the Secretary