15.1.14.010 Definitions
(a) Legal Standards shall mean the minimum requirements for legal standards and procedures established by the Tribe and acceptable in all respects to Fannie Mae relating to
(1) Conveyances of beneficial interests in Trust Land or Restricted Land to lenders as security for Mortgages to borrowers,
(2) Creation and regulation of Assignment Rights and Assignment Mortgages, if the Tribe has a land assignment law,
(3) Manufactured Housing, if applicable, to provide for foreclosure as real property and not a repossession of personal property
(4) Recording of Mortgages,
(5) Mortgage foreclosure proceedings,
(6) Evictions, and
(7) Transfer/resale restrictions.
(b) Tribe shall mean the Pueblo de San Ildefonso Tribe, an Indian tribe, band, nation, village or other organization or community of Indians federally recognized as eligible for the services provided to Indian Tribes by the Secretary of the Interior because of its status as an Indian Tribe, according to standards published annually in the FEDERAL REGISTER pursuant to the Act of November 2, 1994 (108 Stat. 4791).
(c) Native American shall mean a person who is a member of the Tribe.
(d) Designated Lender shall mean one or more Fannie Mae-approved lenders that are approved as NACLI lenders and are selected by the Tribe to make loans to qualifying borrowers for the purchase of one- to four-family residences located on Trust Land or Restricted Land subject to such terms and conditions as may be established by the Designated Lender (in consultation with Fannie Mae) under NACLI. "Designated Lender" shall also include a successor to, or assign of, such entity.
(e) Restricted Land or land in restricted status shall mean land the title to which is owned by a tribe or an individual Native American and is subject to restrictions against alienation imposed by a federal statute. Generally, the restrictions are set forth in the patent or deed to the lands, except restricted lands held by the heirs of the allottees of the five Civilized Tribes in Oklahoma where such federal restrictions arise by virtue of limitations contained in the conveyance instrument pursuant to federal law or because of federal law directly imposing such limitations.
(f) Trust Land or land in trust shall mean land the title to which is held in trust by the United States for an individual Native American or the Tribe.
(g) Eligible Borrower shall be any one of the following:
(1) An individual Native American,
(2) The Indian Housing Authority affiliated with the Tribe ("IHA"),
(3) The "Tribally Designated Housing Entity" ("TDHE") affiliated with the Tribe, or
(4) The Tribe, provided, however, the Tribe may not act as Borrower where the subject of a Mortgage is a leasehold estate and there are no parties to the subject ground lease other than the Tribe and/or an IHA or Tribally designated entity.
(h) Residential Ground Lease is any lease of Restricted Land or Trust Land to an Eligible Borrower which is acceptable to Fannie Mae after review by its counsel. The "Residential Lease of Tribal-Owned Land" (which the Tribe represents is based on the lease attached to the "One-Stop Mortgage Center Initiative in Indian Country" issued in October 2000 by the U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury), attached hereto as Exhibit 1, as amended by the "Fannie Mae Rider to Residential Lease of Tribal Owned Land" (attached hereto as Exhibit 2) is a form of residential ground lease which is satisfactory to Fannie Mae under this agreement.
(i) Assignment is any transfer of rights to occupy, control, build on, or otherwise exercise dominion over Restricted Land or Trust Land pursuant to a tribal Assignment law which has received the approval of the BIA.