The title of this chapter shall be the "NHBP Residential Lot
Leasing and Leasehold Mortgage Code."
The purpose of this chapter is to:
A.
Set forth the policy and requirements for leasing of residential
lots on tribal trust lands and other tribally owned lands to individual
tribal citizens.
B.
Establish a leasehold mortgage program to assist tribal citizens
in obtaining mortgage financing for the purchase of single-family,
owner-occupied principal residences on leasehold estates located upon
tribal trust lands.
C.
Promote the economic welfare and self-sufficiency of the Tribe, its
citizens and spouses and/or parents of citizens by housing opportunities
on the Tribe's Reservation and to promote the development of
a vibrant Reservation community.
The Tribal Council finds that:
A.
It is an essential element of providing for the health, peace and
general welfare of the tribal citizens to offer affordable housing
in a safe and healthy environment;
B.
There is no program that regulates how tribal trust land should be
assigned to tribal members for residential purposes;
C.
In order to provide assurances to lenders, borrowers and federal
agencies, it is necessary to enact the proper legal infrastructure
that provides for recordation, foreclosure and evictions, and priority
of lien procedures in connection with leasehold mortgages given to
secure loans; and
D.
To facilitate the purpose of the program as outlined, this chapter
authorizes a limited waiver of sovereign immunity by the Tribe with
respect to all controversies or claims arising out of, or relating
to, the leasehold mortgage agreements and the leases described herein.
