The approval of a lot request shall be made by resolution of Tribal Council ordering the execution of a lease between the applicant and the Tribe. The applicant whose request for a lot has been approved by Tribal Council shall execute the lease form within thirty (30) days of the Tribal Council resolution ordering the execution of the lease.
Upon execution of the lease between the Tribe and the leaseholder, the Tribe will submit the executed lease to the Bureau of Indian Affairs for approval and/or recording, if required.
Once the Bureau of Indian Affairs completes the verification process and issues a preliminary title status report with the lease recorded, the Tribe will submit the applicant's package to the private lender of his choice from among the list of participating lenders. If the lender requires a federal mortgage guaranty, it is the lender's responsibility to submit the applicant's package to the proper federal agency for approval prior to closing on the mortgage loan.