Nottawaseppi Huron Band of the Potawatomi, MI Leasehold Mortgage Priority of Lien Procedures, Recording

arrow_back

A leasehold mortgage recorded in accordance with the recording procedures set forth in this chapter shall have priority over any lien not perfected at the time of such recording and any subsequent lien or claim, except a lien or claim arising from a tribal tax assessed against a leasehold estate subject to the leasehold mortgage.

§ 9.3-29 Recording.

The Tribe recognizes that the appropriate offices for recording leases and leasehold mortgages is the Bureau of Indian Affairs Area Land Titles and Records Office in addition to the Tribal Recording Office, and the Tribe agrees that the lease agreement shall require that the leases and leasehold mortgages may also be recorded in the county recorder's office in the Michigan county in which the leasehold estates are located.

The Tribal Recording Office shall maintain a system for the recording of leasehold mortgages and such other documents as the Tribe may designate by law or resolution, including, without limitation, the lease.

Endorsements.

(1)

The Tribal Recording Office shall endorse upon any lease and leasehold mortgage or other document received for recording the following:

(a)

The date and time of receipt of the lease and the leasehold mortgage or other document;

(b)

The filing number, to be assigned by the Tribal Recording Office, which shall be a unique number for each lease and leasehold mortgage or other document received; and

(c)

The name of the Tribal Recording Office receiving the lease and leasehold mortgage or other document.

(2)

Upon completion of the above endorsements, the Tribal Recording Office shall make true and correct copies of the lease and leasehold mortgage or other security instrument and shall certify each copy as follows:

	Nottawaseppi Huron Band of the Potawatomi:
	SS
	I certify that this is a true and correct copy of a document received for recording.
	Given under my hand and seal this _____ day of ___________.
	(SEAL)
	Signature
	Title

(3)

The Tribal Recording Office shall maintain copies in the records of the recording system and shall return the original lease and leasehold mortgage or other document to the person or entity that presented the same for recording.

The Tribal Recording Office shall also maintain a log of each lease and leasehold mortgage or other document recorded, in which there shall be entered the following:

(1)

The name(s) of the mortgagor(s) of each leasehold mortgage, identified as such;

(2)

The name(s) of the mortgagee(s) of each leasehold mortgage, identified as such;

(3)

The name(s) of the grantor(s), grantee(s), or other designation of each party named in any other documents including the lease;

(4)

The date and time of receipt;

(5)

The filing numbers assigned by the Tribal Recording Office; and

(6)

The name of the employee within the Tribal Recording Office receiving the lease, leasehold mortgage or other document.

The certified copies of leases and leasehold mortgages and other documents and the log maintained by the Tribal Recording Office shall be made available for public inspection and copying.