Use of acquired land.

(a) General. Subject to § 770.5(d) land acquired with loan funds, or other property serving as the security for a loan under this part, may be leased, sold, exchanged, or subject to a subordination of the Agency's interests, provided: (1) The Agency provides prior written approval of the action; (2) The Agency determines that the borrower's loan obligations to the Agency are adequately secured; and (3) The borrower's ability to repay the loan is not impaired. (b) Title. Title to land acquired with a loan made under this part may, with the approval of the Secretary of the Interior, be taken by the United States in trust for the tribe or tribal corporation.