§ 1-212 Subleases, assignments, amendments and leasehold mortgages.
A. Subleases, assignments, amendments or leasehold mortgages of any lease shall be by written consent of the Tribe and lessee, unless otherwise provided herein.
B. A lease may authorize subleases and assignments, in whole or in part, without approval from the Tribe and execution from the executing official, provided a copy of the sublease or assignment is provided to the Tribe and the following conditions, where applicable, are met and stated in the lease:
1. There is no event of default under the lease or this chapter;
2. Any restrictions and use limitations on the use of the premises shall continue to apply to any sublessee or assignee;
3. The proposed sublessee or assignee submits a current financial statement showing financial adequacy; and
4. The lessee shall not be relieved or released from any of its obligations under the lease.
This section does not relieve either party from carrying out their respective duties under the lease, which may contain additional restrictions and conditions.
C. The lease may authorize mortgages of the leasehold interest for the purpose of financing to develop and improve the leased premises subject to approval by the Tribe and execution from the executing official.
D. If a sale or foreclosure of the lessee’s business or assets occurs and the leasehold mortgagee is also the purchaser, the leasehold mortgagee may assign the lease without approval of the Tribe or lessee, provided the assignee agrees in writing to be bound by all the terms and conditions of the lease. If the purchaser is a party other than the leasehold mortgagee, approval by the Tribe and execution from the executing official is required, provided the purchaser agrees in writing to be bound by all terms and conditions of the lease. (Res. 2020-30)