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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif">Fascinating concept. Please let us know what you discover.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Times New Roman",serif">IMPORTANT NOTICE: This e-mail message is intended to be received only by persons entitled to receive the confidential information it may contain. E-mail messages to clients
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Carl Gay<br>
<b>Sent:</b> Thursday, August 13, 2020 3:49 PM<br>
<b>To:</b> 'WSBA Probate & Trust Listserv' <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] securing a lending transaction with sovereign Indian tribe<o:p></o:p></p>
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<p class="MsoNormal">Dear Listmates,<o:p></o:p></p>
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<p class="MsoNormal">My client is re-negotiating a loan to a Tribe.<o:p></o:p></p>
<p class="MsoNormal">The loan is currently secured by a first deed of trust on a non-reservation parcel.<o:p></o:p></p>
<p class="MsoNormal">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 ….”.<o:p></o:p></p>
<p class="MsoNormal">The new promissory note includes a waiver of sovereign immunity and consent to venue in state court in the event of default and collection.<o:p></o:p></p>
<p class="MsoNormal">Has anyone had any experience with such a pledge for collateral and who might be willing to share some advice?<o:p></o:p></p>
<p class="MsoNormal">Many thanks.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Carl Gay<o:p></o:p></p>
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<span style="font-size:14.0pt;font-family:"Bradley Hand ITC";letter-spacing:-.1pt">CARL LLOYD GAY<o:p></o:p></span></p>
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<span style="font-size:16.0pt;font-family:"Bell MT",serif;letter-spacing:-.1pt">G</span><span style="font-size:12.0pt;font-family:"Bell MT",serif;letter-spacing:-.1pt">REENAWAY,
</span><span style="font-size:16.0pt;font-family:"Bell MT",serif;letter-spacing:-.1pt">G</span><span style="font-size:12.0pt;font-family:"Bell MT",serif;letter-spacing:-.1pt">AY,
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</span><span style="font-size:16.0pt;font-family:"Bell MT",serif;letter-spacing:-.1pt">& M</span><span style="font-size:12.0pt;font-family:"Bell MT",serif;letter-spacing:-.1pt">YERS<o:p></o:p></span></p>
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<span style="font-size:12.0pt;font-family:"Californian FB",serif;letter-spacing:-.1pt">Attorneys and Counselors at Law
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