The assets and rights mentioned in the first paragraph of this article are transferred to the assets of the metropolis no later than one year after the date of the first meeting of the council of the metropolis. The property and rights belonging to the assets of the public establishment of inter-communal cooperation with its own tax status transformed in application of article L. 5217-4 are transferred to the metropolis in full ownership. Where the assets were made available by the communes to this public establishment, in application of articles L. 1321-1 and L. 1321-2, the transfer of ownership takes place between the commune or communes concerned and the metropolis. Failing an amicable agreement, a decree in the Conseil d’Etat carries out the final transfer of ownership. This decree is issued following the opinion of a commission, the composition of which is set by decree of the minister responsible for local and regional authorities and which includes the mayors of the municipalities concerned by such a transfer, the president of the council of the metropolitan authority and the presidents of the deliberative bodies of public establishments of inter-municipal cooperation with their own tax status. The commission elects its chairman from among its members. Transfers are carried out free of charge and do not give rise to the payment of any compensation or tax, or any duty, salary or fee. The metropolis is automatically substituted, for the exercise of the competences transferred, for the member municipalities and the public establishment of intercommunal cooperation transformed in application of Article L. 5217-4, in all the rights and obligations attached to the assets made available in application of the first paragraph of this Article and transferred to the metropolis in application of this Article as well as, for the exercise of these competences on the metropolitan territory, in all their deliberations and all their acts. Contracts are performed under the previous conditions until they expire, unless otherwise agreed by the parties. The co-contractors are informed of the substitution of legal entity by the Metropolitan Council. The substitution of a legal entity in current contracts does not entail any right to termination or compensation for the co-contractor.