[WSBAPT] securing a lending transaction with sovereign Indian tribe

[Shaw Law]

Carl I routinely do this type of work every week for the last 20 years.
Happy to help unless I am conflicted out.

 

-David

 

David D. Shaw, Attorney

Shaw Law Group | P.O. Box 12050 | Portland OR | 97212

503.221.4260 (tel) | 503.221.4267 (fax) | www.shaw-law.net



Practicing in Indian, business, real estate, and personal injury law.

 

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com>
On Behalf Of Carl Gay
Sent: Thursday, August 13, 2020 3:49 PM
To: 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] securing a lending transaction with sovereign Indian tribe

 

Dear Listmates,

 

My client is re-negotiating a loan to a Tribe.

The loan is currently secured by a first deed of trust on a non-reservation
parcel.

The Tribe seeks a release of the deed of trust and substitute collateral of
a pledge of the Tribe’s “full faith, credit and taxing power to the payment
of the principal and interest as a first charge upon all revenues of the
Tribe 
.”.

The new promissory note includes a waiver of sovereign immunity and consent
to venue in state court in the event of default and collection.

Has anyone had any experience with such a pledge for collateral and who
might be willing to share some advice?

Many thanks.

 

Carl Gay

 

CARL LLOYD GAY

 

Non nobis solum nati sumus

     “Not unto ourselves alone are we born” 

           ~the motto of Willamette University~

             

GREENAWAY, GAY, MEDINA & MYERS

Attorneys and Counselors at Law                     

734 East First Street       Suite A

Port Angeles, Washington   98362

Email                      carl at greenawaylawfirm.com
<mailto:carl at greenawaylawfirm.com> 

Telephone               (360) 452-3323


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