The conveyance is subject to existing rights and to the Secretary's terms
What the document says“The conveyance under subsection (a) shall be subject to-- (A) valid existing rights; and (B) such terms and conditions as the Secretary determines to be necessary.”
Two limits on what the County receives. Rights that others already hold in the land survive the conveyance, and the Secretary may attach whatever terms and conditions the Secretary determines to be necessary. The subsection does not list those terms or say what rights exist.
What the document actually says“The conveyance under subsection (a) shall be subject to-- (A) valid existing rights; and (B) such terms and conditions as the Secretary determines to be necessary.”
Rights that other people already hold still stand. The Secretary can add terms to the deal.
The law does not list those rights or terms. It leaves the terms to the Secretary.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.