2.3.2.010 Findings

(a) The 19 Pueblos of New Mexico are joint owners of Indian Pueblos Federal Development Corporation ("IPFDC"), a corporation organized under 25 U.S.C. §477;

(b) IPFDC and the 19 Pueblos of New Mexico are parties to the "Perpetual Ground Lease between the 19 Indian Pueblos of New Mexico and the Indian Pueblos Federal Development Corporation" approved by the Secretary of the Interior on June 18, 1997 and amended by Amendment No. 1 approved by the Secretary of the Interior on March 27, 2003 (the "Lease");

(c) The Lease grants IPFDC a leasehold interest in a tract of land that was formerly used for the Albuquerque Indian School and is situated in the East Half of Section 7 and the West Half of Section 8, T. 10 N., R. 3 E., New Mexico Principal Meridian, in Bernalillo County, State of New Mexico, as described in Exhibit A of the Lease, consisting of approximately 44.201 acres of land held by the United States in trust for the 19 Pueblos of New Mexico pursuant to a 1993 Trust Deed (the "Leased Land");

(d) The Board of Directors of IPFDC has concluded that development and management of the Leased Land for the benefit of the 19 Pueblos can be achieved most efficiently by assigning IPFDC's interests in the Lease to Indian Pueblo Marketing, Inc. ("IPMI"), a corporation organized under 25 U.S.C. §477 and owned by the 19 Pueblos of New Mexico;

(e) Section 4.5 of the Lease provides that IPFDC as Lessee shall not assign any of its rights under the Lease or any interest in the leasehold estate created by the Lease, or any right, title or interest in any portion thereof;

(f) The Board of Directors of IPFDC has recommended that Section 4.5 of the Lease should be amended to authorize assignment of the Lease to IPMI;

(g) Public Law 110-453 directed the Secretary of the Interior to take into trust for the benefit of the 19 Pueblos of New Mexico certain additional lands in Section 7 and Section 8, T. 10 N., R. 3 R., New Mexico Principal Meridian, in Bernalillo County, State of New Mexico, as described in §103(b) of said Public Law (the "P.L. 110-453 Lands");

(h) The Board of Directors of IPFDC has concluded that IPFDC does not have the financial or management capacity to develop the P.L. 110-453 Lands for the benefit of the 19 Pueblos, and therefore has recommended that the 19 Pueblos should not assign any development or management responsibility over the P.L. 110-453 Lands to IPFDC;

(i) The Board of Directors of IPMI has agreed to accept the assignment of the Lease and has agreed to manage the P.L. 110-453 Lands for the 19 Pueblos;

(j) The attached "Amendment No. 2 to Perpetual Ground Lease" will authorize IPFDC to assign the Lease to IPMI, and will add the P.L. 110-453 Land to the Lease after it is assigned to IPMI.