§ 162.583 What are the consent requirements for a leasehold mortgage of a WSR lease?

(a) Unless the lease provides otherwise, the lessee must notify all Indian landowners of the proposed leasehold mortgage. (b) The Indian landowners, or their representatives under § 162.013, must consent to a leasehold mortgage in the same percentages and manner as a new WSR lease under § 162.012, unless the lease: (1) States that landowner consent is not required for a leasehold mortgage and identifies what law would apply in case of foreclosure; (2) Provides that individual Indian landowners are deemed to have consented where they do not object in writing to the leasehold mortgage within a specified period of time following the landowners' receipt of the leasehold mortgage and the lease meets the requirements of paragraph (c) of this section; (3) Authorizes one or more representatives to consent to a leasehold mortgage on behalf of all Indian landowners; or (4) Designates us as the Indian landowners' representative for the purposes of consenting to a leasehold mortgage. (c) If the lease provides for deemed consent under paragraph (b)(2) of this section, it must require the parties to submit to us: (1) A copy of the executed leasehold mortgage or other documentation of any Indian landowners' actual consent; (2) Proof of mailing of the leasehold mortgage to any Indian landowners who are deemed to have consented; and (3) Any other pertinent information for us to review.