5.10.170 Subleases, assignments, amendments, and mortgages.
(1) Unless otherwise provided herein, subleases, assignments, amendments, or mortgages of any business site lease shall be submitted to the business council for approval or disapproval. If approved by the business council, the business council shall, by resolution, authorize the executing official to provide written consent to the approved subleases, assignments, amendments, or mortgages on behalf of the tribe.
(2) The business site leases may authorize subleases and assignments, in whole or in part, without approval from the business council and execution by the executing official, provided a copy of the sublease or assignment is provided to the department and the following conditions, where applicable, are met and stated in the business site lease:
(a) There is no event of default under the business site lease or this chapter;
(b) Any restrictions and use limitations on the use of the premises shall continue to apply to any subtenant or assignee;
(c) The proposed assignee or sublessee submits a current financial statement showing financial adequacy; and
(d) The lessee shall not be relieved or released from any of its obligations under the business site lease.
This section in no way relieves the parties from carrying out their duties under the business site lease, which may contain additional restrictions and conditions.
(3) The lease may authorize mortgages to the leasehold interest for the purpose of financing to develop and improve the premises subject to approval by the business council and execution by the executing official.
(4) If a sale or foreclosure of the lessee’s business or assets occurs and the mortgagee is also the purchaser, the mortgagee may assign the lease without approval of the business council 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 mortgagee approval by the business council and execution by the executing official is required, provided the purchaser agrees in writing to be bound by all terms and conditions of the lease. [Ord. 05-31-2018-B § 2(22.03.120), 2018.]