; and (3) accept from BWLT all right, title, and interest of BWLT in and to the non-Federal land. (b) Requirements The exchange under subsection (a) shall be— (1) subject to valid existing rights; and (2) conditioned on a cash equalization payment made by BWLT to the United States in accordance with subsection (c) if, under the appraisals conducted in accordance with this Act, it is determined that the value of the Federal land exceeds the value of the non-Federal land. (c) Equal value and cash equalization (1) In general Except as provided in paragraph (2), the exchange under subsection (a) shall be for equal value or the values shall be equalized by a cash payment. (2) Exception If the appraised value of the non-Federal land conveyed to the Secretary exceeds the appraised value of the Federal land, a cash equalization payment by the United States to BWLT is hereby waived and the amount of such waived payment shall be considered a donation by BWLT to the United States for all purposes of law. (d) Appraisals (1) In general The value of the land to be exchanged under this Act shall be determined by appraisals conducted by one or more independent and qualified appraisers mutually agreed to by the Secretary and BWLT. (2) Appraisal standards The Secretary shall complete an appraisal of the land to be exchanged under this Act in accordance with— (A) the Uniform Appraisal Standards for Federal Land Acquisitions; and (B) the Uniform Standards of Professional Appraisal Practice. (e) Format Title to the non-Federal land to be conveyed to the Secretary under this Act shall be in a format acceptable to the Secretary. (f) Management of acquired land The land acquired by the Secretary under subsection (a) shall be— (1) added to, and managed as part of, the Chippewa National Forest