PROPERTY REPORT

D.S.DE

The Interstate Land t sentation to the effectthat the Federal Government has in any way passed upon the merits of or given approval to thissubdivision, or passed upon the value if any, of the property.

iï. It is unlawful for anyone to make, or cause to be made to any prospective purchaser, any representa-

tion contrary rU.. n. rt. res ons w I.er tatements in thisProperty Repo r ..- ,ti. s a Q . Y Interstate LandSales Registrati a . s: . .

Office of Interstate Land Sales RegistrationHUD Building, 451 Seventh Street, S.W.Washington, D.C. 20410

1 EUn"" you "",,, i1" ,"p,rt Repo,' pno, to 0' at " ,:, you '0 ,; in 0 a toovoid the contract by nntice to the seller.

act, you may

"--~';);

If you received the Property Report less than 48 hours prior to signing a contract or agreement you

have until midnight of the third business day following the consummation of the transaction to re-vok, yon t'~bF t kE I '

L Name evliper: sAddress: P. O. Box 3281

Tulsa, Oklahoma 74101

Location: l~

onderland2. Name of Subdivision:

, State of Oklahoma

(a) Effective Date of Property Report: October 22, i 975

IMPORTANT READ CAREFUllY

Name of Subdivision: ALL YSON ACRES WONDERLAND

, f

t

By signing this receipt you acknowledge that you have received a copy of the PropertyReport prepared pursuant to the Rules and Regulations of the Office of Interstate LandSales Registration, U.S. Department of Housing and Urban Development.

Received by

Street Address ~_._____.DateI

.. I

""

CitYn___. State Zip ____ __Notwithstanding your signature by which you acknowledged that you received the PropertyReport you still have other important rights under the Interstate Land Sales Full Disclos-ure Act.

I

fi -,

.'

WARNING

II

I:~~;~

1

I:1'l:1

~l

~,a.

~i~l

~:;.i

~¡~...!

t\

~

~i

ì

I- ~

~

11

1

~

1

~

~

~. ~

~

THE DEVELOPER Hl\S FAILED TO OBTAIN M1NY OF THE REQUIREDPERMITS OR APPROVALS FOR FACILITIES IN THIS SUDDIVIS ION.ALSO, IT HAS FAILED TO DETEHl-HNE í'lHETHER THERE IS SUFFICIENTWATER TO SUPPLY ALL OF THE LOTS IN THE SUBDIVIS ION OR í'JHETIICRTHE WATER WILL BE SAFE TO DRINK. YOU SHOULD EXERCISE CAUTIONBEFORE OBLIGATING YOURSELF TO BUY A LOT. FOR ADDITIONALINFO~ffTION, YOUR ATTENTION IS PARTICULARLY DIRECTED TOQUESTIONS 9, 10(b) (1) and 11.

THE DEVELOPER IS NOT LEGALLY OBLIGATED FOR ANY OF THEPROPOSALS WHICH HE HAS INCLUDED IN THIS PROPERTY REPORT.

ALL LOTS IN THE HICKORY AND RED BUD ADDITIONS REQUIRE ACENTRAL HATER SYSTEH. THE DEVELOPER DOES NOT PROPOSE TO INSTALLTHE WATER SYSTEM. THEREFORE i YOU WILL NOT BE ABLE TO USE YOURLOT IF IT IS LOCATED IN EITHER OF THESE UNITS.

~

~~~.~1

11

lj

~~-' ~;

~-~,C1\Cj

. 1

2. (b) 'this offering consists of:

Allyson Acres South

Block I, Lots 1-20 Block 5, Lots 1-5Block 2, Lots 1-34 Block 6, Lots 1-4Block 3, Lots 1-11 Block 7, Lots 1-24Block 4, Lots 1-14

TOT AL : 112 lots

Allyson Acres East

Block 1, Lots 1-16 Block 3, Lots 1-6Block 2, Lots 1-19

TOTAL: 41 lots

Allyson Acres West

Block I, Lots 1-11 Block 3, Lots 1-~~Block 2, Lots 1-8

TOTAL: 29 lots

1 September 22 i 1975/'

. ._ _ _. ~ _. ._______._____~___.___~~ ___..~.~_____~_~ ____,~~~~~~,~_"_-__~.~~._,~~O~._~__.__~,""_.,o_~._i_'r~~""""*".-"'~,,~'''--.-.-~.;-~

c,

Allyson Acres - Valley View Addition

Block 1, Lots 1-2Block 2, Lots 1-19Block 3, Lots 1-38

Block 4, Lots 1-35Block 5, Lots 1-5

TOTAL: 99 lots

la September 22, 1975

..

f u'___',__

I;¡

i

I

I¡l,;;

~

~~:

~1,

~~

~."

t~~

~'1~:

~:;il~I

,f¡

... '..--'-- -~-;~4~-);,,~~-i;i_£l.;,¡"

Allyson Acres - Dogwood Addition

Block 1, Lots 1-14 Block 6, Lots 1-5Block 2, Lots 1-5 Block 7, Lots 1-14Block 3, Lots 1-14 Block 8, Lots 1-8Block 4, Lots 1-17 Block 9, Lots 1-26, except Lot 1Block 5, Lots 1-4 Block 10, Lots 1 and 2

TOTAL: 108 lots

~

I~

~

~M

~

~

Allyson Acres - Hilltop Addition

Block 1, Lots 1-6 Block 5, Lots 1-5Block 2, Lots 1-22 Block 6, Lots 1-43Block 3,. Lots 1-7 Block 7, Lots 1-7Block 4,. Lots 1-21 Block 8, Lots 1-16

TOTAL : 127 lots

Allyson Acres - Mobile Vista Addition

Block I, Lots 1-30 Block 5, Lots 1-5Block 2, Lots 1-14 Block 6, Lots 1-32Block 3,. Lots 1-39, except Block 7, Lots 1-15

Lots 26 and 27Block 4, Lots 1-37

~AL: i 70 lots

Allyson Acres - Hickor

Block 1,. Lots 1-6 Block 4, Lots 1-29, exceptBlock 2, Lots 1-29 Lots 4 and 28Block 3, Lots 1-16 Block 5, Lots 1-15

'1TAL : 93 lots

Allyson Acres - Red Bud Addi ti n

Block 1, Lots 1-27, except Block 3, Lots 1-7, except Lot 1Lots 14, 15 and 23 Block 4, Lots 1-46, except

Block 2, Lots 1-10, except Lots 35-40Lots 1 and 4

'lAL: 78 lots

'.~ ;

ii

-~~~.;~,

,~'

~:)1,'~

f~p1:

~ !!. ~.

,

.:1

~

ri,I:

!:~

2 August 12, 1975

____.. ~__.._,,__.____.~L_'-:£.-~~"-""--;"": ,~O:£:.-------~._--------~~-...----,----._-_.,.' .

Allyson Ac re s - Golf Additi n

Block 1, Lots 1-8 Block 6 Lots 1-5Block 2, Lots 1-6 Block 7 Lots 1-12Block 3 i Lots 1-12 Block 8 Lots 1-6Block 4, Lots 1-8 Block 9 Lots' 1-51, exceptBlock 5 i Lots 1-16 Lots 5-18 and 34

Block 1 i Lots 1-12

TOTAL: 121 lots

2a August 12, 1975

i

Ii -I

~

~

~

'I~-,~

f -

i

_~.__.~_~,_.-,_..'__'____'__'____'____' -.__0 _ _ _ ,_ ( .----.---.- T¡-';-'--'.

Allyson Acres - Grand View Addit. on

Block 1, Lots 1-6 Block 5, ots 1-6Block 2, Lots 1-18 Block 6, ots 1-39, exceptBlock 3, Lots 1-31 ots 30 and 32Block 4, Lots 1-18 Block 7, ots 1-29

TO'AL : 145 lots

Allyson Acres - Echo 1 Additio

Block 1, Lots 1-98Block 2, Lots 1- 1 1

Block 3, ots 1-2

TOTAL: III lots

Allyson Acres - Echo 2 Amended Add tion

Block 1, Lots 1-16 Block 4, ots 1-4Block 2, Lots 1-31 Block 5, ots 1-6Block 3, Lots 1-13

TOTAL: 70 lots

The Estates - An Addition to Allyson Acres

Block 1, Lots 1-35 Block 5, ots 1-26Block 2, Lots 1-19 Block 6, ots 1-12Block 3, Lots 1-38 Block 7, ots 1-53Block 4, Lots 1-15

TOTAL : 198 lots

3. List names and populations of surroundi 9 communities andlist distances over paved and unpaved r ads to the subdivision.

Name ofComuni ty Population

JayGroveDisneyVini taTulsa

1,5942,000

3035,847

331,638

* Asphalt

Distance OverPaved Roads *

15 miles30 miles10 miles30 miles70 miles

3 ugust 12, 1975

4.

--~~-----------~----------..-~~~------~_._------ "_,_,._~=-__,-~-- ___"_0__-___'":--_ -e.--";' -

(a) Will the sales contract be 'recordable

Yes, if acknowledgment is reques ed and completed.

ct or deed,y personti tIe to theiver a deed?

(b) In the absence of recording the contrcould third parties or creditors of ahaving an interes t in the land acquirproperty free of any obligation to de

Yes, in the absence of recordingor deed, your right

to the titlemay be defeated by such third, pasequent purchasers or creditorshaving an interest in the land.

the contractof the landties as sub-f any person

(c) State whether and/or when the contract or deed willbe recorded, and who will record it. State who willbear the cost of recordation, and th amount if thosecosts are to be borne by the purchas r.

Seller does not intend to recorYou may record your contract atapproximately $2.50 provided thtax has been paid with respectmortgage tax does not exceed 10of the total contract installmethe seller is obligated to andmoi;tg age tax.

the contracts.your cost oft the mortg ageo it. Theper $100.00t payments andill pay the

(d) What provisions, if any, have been m de for refundsif buyer defaults?

None.

If none, and the buyer's payments arstate whether his loss will be limitof his payments to date, or whethersible to the developer or his assigntional damages or for the balance of

to be retained,d to the amoun te will be respon-es for addi-his contract.

Upon default, your payments wi 1 be retained asliquidated damages and your cost will be limitedto the amount of such payments if you executeand deliver a quit claim deed 0 seller. Ifyou refuse to execute a quit c aim deed to se 11er,seller reserves the right to p rsue his remediesprovided by Oklahoma law upon our defaultincluding but not limited to t e right to requireyou to pay the balance of your contract plus collec-tion expenses allowed by law. Other remediesinclude foreclosure of the con ract and resale of

4Au ust 12, 1975

I1:

I,:,i -tl

II

1'i ~ !

i.1'

~l

I'

i

il.. ,

; i

, Ii~ 1

:1:

S..:. '.....'ti : ~

~ '

~~;"t _(1

;1 -!I -

;!¡i, .,ili

i

/~. ;i

i.,.,

'0_-...~..--_:'~~

~~/ '¡ ".

(e)

the land resulting in a cre it upon thebalance of the contract tha remains due.

State prepayment penalties or pr vileges, if any.

You are given the right to repay theindebtedness without any pe alties.

'7

4a August 12, 1975

5.

l

Is there a blanket mortgage or other liension or portion thereof in which the subjelocated? If yes, list below and describeany, for protecting interests of the buyerdefaul ts in the payment of the lien obligais such a blanket lien, describe arrangemeto a buyer of individual lots when the fulis paid.

n the subdivi-t property isrrangements, ifif a developerion. If therets for releasepurchase price

Yes, insofar as Allyson Acres - Echo 1 andEcho 2 Amended Additions and The Es t tes areconcerned. They are subject to a bl nket mortgage.The other Additions covered by this roperty Reportare not subject to a blanket mortgag .

Type of LienEffect on Buyers ifDevelo er Defaults

You may lose y ur financialinterest in th property if youdo not obtain release of yourlot from the b a~ket mortgage andrecord your co tract for deed.Should the dev loper defaultyou will be ex osed to the riskof loss of you lot and invest-ment. The dev loper has arrangedto obtain a re ease of your lotfrom the blank t mortgage upon pay-ment by the de eloper to themortgagee of a amount equal to$1,100.00 per cre to be re-leased, prorat d according toyour lot size or most lots and$3,300.00 per cre prorated toyour lot size or lakefront andcommercial lot including Lots8, 9, 10, 16 a d 1 7 in Bloc k 5;Lots 9, 10, 11 and 22 in Block 1;and Lots 17, 1 , 35 and 36 inBlock 7, all i The Estates.Assuming an av rage lot is 2.5acres this mea s that the partialrelease paymen by the developerto the mortgag e to release alakefront lot . n The Estates willbe approximate y $8,250.00. Inorder to obtai the release, thedeveloper must be, at that time,in full compli nce with his obli-gations to the mortgagee. The

(a) Mortg age on Echo 1and Echo 2 AmendedAdditions and TheEstates

5

developer intepartial releasthe time youris assigned tohowever, therethat this willmortg age has pcontract for dis released frforec losure ofto release ofsuIt in a saleing sub j ect to

ds to obtain aof your lot atontract for deedthe mortg agee;1S no assurancebe done. Theiori ty over youred unless your lotm the mortgage andthe mortgage, priorour lot, will re-of all lots remain-the mortgage.

6. Does the offering contemplate leases of th property inaddition to, or as distinguished from, sal s?

No. Individual lots may be improved and leased asimproved, but the same does not cons itute part ofthis offering.

lii

i

i

!i

.1

Ii

Ii

11

\

I-i 'Ii'I~ì

.. - a.... ...~ , ') '07i:

7.

i~\

. _..._ - ,_"".. ___. ._.__.,_,.."_"___,,- -'n"_.'_'-- ~---_.---_.__._~---~

Is buyer to pay taxes, special assessments,payments of any kind for the maintenance ofties in the subdivision (a) before taking ti(b) after taking title?

r 'to makeommon facili-Ie, or

Yes. Installment purchasers will be r quired to paytaxes and special assessments (and in 11 Al1ysonAcres Additions other than East and We t make pay-ments for the maintenance of common fa ilities inthe subdivision) prior to taking title. All pur-chasers, after taking title, will be r quired topay taxes and special assessments (and in all Al1y-son Acres Additions other than East an West makepayments for the maintenance of common faci Ii tiesin the subdivisions) as provided belo. Payment ofthe assessment is not required for lot purchasers inEast and West Additions. Therefore, y u may bepaying a disproportionate share of the cost ofmaintaining the roads and common facilities.

If either answer is yes, complete the schedule below:

Approximate Amount ofBuyer's Ann al Payments

Taxes " .Consult loc 1 taxingauthori ties.

Special Assessments Consult loc 1 taxingauthorities.

Payments to Developer . 1$?4. 00 per.,,' r Allyson AcrEas t and We

than

Other None known.

8 (a) Will buyer's down payment and install ent paymentsbe placed in escrow or otherwise set side?

No.

If not, will title be held in trust 0 in escrow?

No.

(b) Except for those property reservationdeve lopers commonly conveyor dedicatbodies or public utilities for the pubringing public services to the landwill buyer receive a deed free of exc

which landto local

pose ofeing developed,ptions?

No.6 Aug st 12, 1975

If no, list all restrictions,reservations and their effect

s, covenants,er.

The seller reserves the right to except themineral rights and retain them f r seller'sbenefit or assignment to others. In additionto any dedication of roads and n rmal utilityeasements and for the purposes of orderlydevelopment, safety and to provi e a pleasantappearance, the subdivisions are subject tocertain "Restrictive Covenants" hich are at-tached hereto and incorporated rein byreference.Lot 1, Block 6; Lots 1 and 21,10- 15, Block 4; Lots 5, 6, 12,26-30, 33-36 in Block 3, all inare affected by a power line ancrossing the lots, as shown onplat. The effect of this easemutilization of the affected lotbecause a copy of the easementfound; however, it is almost cepermanent improvements cannot bthe easement or so close to theas to hinder maintenance and re

Lots 1-19 in Block 2 of East Ad1-11 in Block 3 of West Additio9-11, 22 in Block 1; Lots 8, 165; Lots 17,18,35,36 in BlockEstates are subject to a flowagall portions below 757' above smi tting Grand Lake to rise andportion of each lot below 757 flots were platted such that allwould be above 757 feet above sHowever, as with all the otherare cautioned to personally insbefore buying it.

All lots in Echo 1 and 2 Additiject to p blanket electric lineway easement to Northeast OklahCo-Op, Inc., permitting the utito construct and maintain the pThe Northeast Oklahoma Electrichas the right to construct, recmaintain an electric transmissisystem across all lots in EchoAmended which effectively prohi

6a

lock 5; Lots8, 21-23,The Estateseasemen the recordednt upon youris unknown

annot betain thatbuil t upon

power 1 ineonstruction.i tion; Lots; and Lots17 in Block

7 of Theeasement over

a leve 1 per-lood tha tet. Theseof these lotsa level.ots, youect any lot

ns are s ub-right-of-ma Electrici ty companywer line.Co-operativens truct andn line orand Echo 2

its cons truction

i

1

of improvements under or nthat would hinder its operis no assurance that you wuse these lots for any pursize and effect of the easBe advised that the copy 0mitted does not show the p

All lots in Echo 2 Amendedto remotely possible claimArcenia Lincoln, Deceased.title insurance to protectpossibility at a cost of $depending upon the value 0ti tIe insurance may be purRiver Abstract & Title Co.G, Jåy, Oklahoma, 74346.

Lots 1 through 19 o~ BleckEast Addition and Lots 1 tof Al1yson Acres West Addisubject to a flowage easemOVer all portions below elabove sea level. Lots 9,Block 1; Lots 8, 16 and 17Lots 17, 18, 35 and 36 inEstates are partially subjeasement over all portionsabove sea level. Grand Laing to controls and may poas high as élevation 757 fThis flowage easement restof improvements below elevsea level, and use and enjmay be limited by reason 0

1

6b

ar the linestions. There11 bè able toose unti 1 thement is obtained.the plat sub-

wer line easement.

Addi tion are subj ectof unknown heirs ofYou may purchase

you from this5.00 to $ 3 5. 00,your lot. Suchhased through GrandPost Office Drawer

2 of Allyson Acresrough 11 of Block 3ion are partiallynt for Grand Lakevation 757 feet0, 11 an~ 22 inin Block 5 andlock 7 of Thect to a flowagebelow 757 feete fluctuates accord-entially fluctuateet above sea level.icts the buildingtion 757 feet aboveyment of these lotsthe flowage easement

September 22, 1975

~

8.

You should determine the ffect of theseeasements upon your lot.

(cl List the permissible uses of t e property basedupon the restrictive covenants, and which areconsistent with local zoning ordinances.

Permissible uses include residential uses;however, there are no restrictions or zoningregulations against othe uses. The attachedRestrictive Covenants co tain all restrictionsapplicable to the land a d they contain materialrestrictions upon the us of your land and otherlots in the subdivision. The developer or hisdesi nee may alter your lans to build on orto use your lot. When, . n developer's opinion,enough lots have been so d or enough constructiorhas been completed, deve oper may appoint, orcause to be elected, a c mmittee of at leastthree lot owners to serv as architecturalcontrol. With regard to the construction anduse of water and sewer f ci Ii ties, you wi 1 1 berequired to obtain prior written approval fromthe Oklahoma State Depar ent of Heal th, StateCapitol Building, Oklaho a City, Oklahoma, 73105.

(d) List all existing or proposed unusual conài tionsrelating to the location of t e subdivisions andto noise, safety or other nui ances which affector might affect the subdivisi n.

Oklahoma is subject to v olent windstorms andtornadoes which occur mo tly during spring andearly summer , although 0 currences have beennoted throughout the yea. During dry monthsthe area may be subject 0 brush fires. Cer-tain lots, as identified in the answer toQuestion 8 (b) above, are subject to a flowageeasement for Grand Lake ver all portions below757 feet above sea level Grand Lake fluc-tuates according to cont ols and may potentiallyfluctuate as high as ele ation 757 feet abovesea level. This flowage easement restrictsthe building of improvem nts below elevation757 feet above sea level, and use and enj oymentof these lots may be lim. ted by reason of theflowage easement. Inter ittent streams existon the property; however, deve loper has con-structed roadways upon t e intermittent streamsand knows of no material adverse effect uponany lots in the subdivision, except as noted

7 August 12, 1975

in the answer to Question 1aircraft landing facilitiesmiles of the subdivisions iand Gr and Lake. They are na nuisance. Developer may,to, develop an amusement pacenter wi thin two miles ofwhich might occupy as much

below. Smallexist within fiveeluding airstripst cons idered to bebut is not obligatêdk-type entertainmenthe subdi vis ionss 400 acres of land.

9. List all recreational facilities curre tly available, pro-posed or partly completed and complete the following formatfor each facility:

There are no recreational faciliof the offering. Some of the reties that exist in the area areThey are unconditionally open tofor a charge and there are no prof continued operation. They maclosed at any time.

~

ies that are partreational facili-escribed below.the general publicmises nor assurancesbe sold and/or

i .!/1 Facility:i

~

BeachBoa tRampSwimming Pool

41Picnic Area

'1j¡ ClubhouseHi' Riding Stables11 · Heated Fishing

DockMarina

Park

Miniature Golf ~I

iI

%

Complete

EstimatedCompletion

Date

FinancialAssurance

ofCompletion

?:I100%100%

N.A.N.A.

N .A.

N .A.

100%100%100%100%

N.A.N .A.

N.A.N.A.

N .A.

N .A.

N .A.

N .A.

100%100%

N.A.N .A.

N.A.N.A.

100% N .A.N.A.

0% 12/31/76 NONE

All facilities are owned by developer

21 N .A. means "not applicable".

lopergated

oooo

oo

o

o

Buyer's Costor Assessment

None 31None 31

None 31None 31Usage-charge 3$2.50 per hour

""$2.00 person 3$15.00 per

month 3/$37.50 per

month 3/Ai. 00 aciissic

charge

d/or others.

31 Each lot in all Al1yson Acres Additions, excepting onlyEast and West, is assessed $24.00 per ear for upkeep ofroads and beautification of the devel0 ment. The commonfacilities are owned and operated by t e developer asseparate businesses for profit and the e are no assurancesof continued maintenance and operatio. Developer reservesthe right to sell the property upon wh' ch they are located.

!I The reqùisi te permit for the operationand there is no assurance that the lotto use the s\vimming pool. The permi tis required by and mus t be obtained frDepartmen t of He al th .

has not been obtainedwners will be ableor the swimming poolm the Oklahoma State

51 The developer's proposal lacks definit'on and it may not beable to carry it out.

The riding stables and miniature golfmain entrance to Allyson Acres Wonderlswimming pool, picnic area and clubhouapproximately three-quarters of a milemain entrance. The boat ramp ,heatedmarina and camper park are located appa quarter mile Northeast of the main eThe $24.00 per lot per year assessmentand beautification will be partially u

re located at thend. The beach,e are locateddue North of theishing dock andoximately one andtrance on the lake.for road maintenanceed for maintenance of

8 August 12, 1975

the public recreational facilities. The efore, lot purchasersmay be paying a disproportionate share f the cost of main-taining the facilities.

The lot owners, their families and gues s, and the generalpublic, subject to the developer's invi ation and control,may use the common facilities. Develop r wi 11 permit thegeneral public to use the common facili ies for thepromotion of sales of lots and no condi ions will be im-posed upon the general public i s use.3 \

i

No provision has been made for maintenathe common facilities. Should expensesr~quire the imposition of a usage chargthe developer will impose or increase tpriate amount as determined by it in itcommon facilities are operated as separprofit and charges are or may be made f

..

8a

ce and operation ofof such operationo+, its increase,

e charges an appro-discretion. Allte businesses forr their usage.

Uqust 12. 197'5

10. State availability of the following in t e subdivision.State any estimated costs or assessmentsIf only proposed or partly completed, stcompletion date, state provisions to assand give an estimate of all costs to buymaintenance costs.

i!

;¡I:'i

1\¡:

(a) Roads:

1. Access: The subdivision is pble from Disney, Oklahoma, apmiles distant, over State Higlane asphalt road. The propeaccessible from Jay, Oklahomafifteen miles distant over Sta two-lane asphalt road. Aspa~ all-weather paved road. Ncontemplated.

i.1:"l'"

the buyer.estimatedcompletion,including

esently accessi-roximately tenway 28, a two-ty is alsoapproximately

te Highway 20,al t is consideredimprovements are

2. Road system within the subdiv sion:

(i) Paved: The entry road itenths miles long, two-lane,asphalt with a constructed wifeet. Additional two-lane roconstructed width of approximfeet of approximately two milexists within the subdivisionasphalt.

(ii) Unpaved: Another 22 milwith natural gravel base andwidth of approximately 30the subdivisions. All roadswidth of 30 feet. All of thesently subdivided area can beconventional automobile; howeing lots border on roads thatand access may be difficult erainy seasons: Lots 34, 35 aof Block 1 in Echo 1 and LotEcho 2 Amended Addi tions .

-- iI

¡

i,

L

1¡!

~l;':1;

í:¡,I,,:ili\1:~¡

~\

~l:1~I

~ I!.I:i:¡)

one and two-opped wi thth of 30dway with ately 30s presently, topped wi tfi

s of graded roadsconstructed

eet exists withinave a dedicatedlots in the pre-reached byer, the fol1ow-are very steeppecially duringd 59 through 64in Block 5 of

.'3:

1i:¡¡

All roads have been dedicated to the public andwill be maintained by the Cou ty of Delaware.

(b) Utilities:1. Water: The only available w ter supplies are

the water table existing app oximately 120-700

9

,i

i.~

Ii

l

.,

feet below the surface ,of the 1 nd andGrand Lake of the Cherokees. Y u wi 11 beresponsible for your own water upply andthe drilling of any desired wel upon yourlot. The developer has not obt ined a letteror report from a coanizant heal h officer onthe quality and purity of the w ter. Accord-ingly, there is no assurance th t the availablewater will be either pure or of acceptablequality. No tests have been pe formed by aqualified engineer to determine if the supplywill be adequate to serve the a ticipatedpopulation of the subdivisions. The esti-mated maximum cost to you of in tallation ofan average water system for you lot includingthe drilling and installation 0 the pump"tank and piping is approximate 1 $2,ODO.OO.Hickory and Red Bud Addi tions a e approved forseptic tank use, only if they a e supplied bya central water system. The de elo er does notro ose to install a central wa er system toserve the lots in the Hickorv a. d H d Bud Addi-tions. If our lot is locat~d here, you willbe unab Ie to use it for any pur osc.

No test borings nor other testto establish that a suf ficientpotable water is or will be avalot. Consequently, there is nothere will be adequate nor contpotable water supply available

2. Electricity: Electricity is avNortheast Oklahoma Electric Co-electric co-operative, of VinitJay, Oklahoma. Electrical faciavailable to each lot owner upoNortheast Oklahoma Electric Co-rural electric co-operative staand rates. Lot owners are charfee of $5.00 and a $15.00 meterresidential meters and a $25.00for trai lers. These items are

3. Gas: Natural gas is not availadivision. Liquified petroleumonly available source of supplyinclude Lindley LP Gas and Peteboth of Jay, Oklahoma, and UnioOklahoma.

10

ata existsuanti ty oflable to eachassurance thatnuous noro your lot.i lable fromper~tive, a rural, Grove andi ties arerequest from

perative at thedard chargesed a membershipdeposi t formeter depositubject to change.

Ie i:1 this sub-as (LPG) is theand suppliersson LP Gas,Gas of Langley,

S ptember 22, 1975

I

1, ,

.'

iJi

The suppliers are not regulated by abody and the only assurance of contivice at reasonable rates is the factproperty can be served from variousthe area. The effects of the nationcrisis are unknown. Each individualwill be responsible for installationof his own LPG system which is estimapproximately $250.00 to $500.00 andcurrently estimated to cost 34 cents

4.

y publicuous ser-that theources in1 energylot ownerand cos tted to costLPG gas isper gallon.

Telephone: Grand Telephone in Jay, klahoma, aprivate utility company regulated by a publicbody provides four-party line teleph ne servicein the subdivision. Facilities have not beenextended to each individual lot and he installa-tion schedule depends entirely upon he individuallot owner and the telephone company' constructionrequirements. Th~re is no cost to t e lot ownerfor extending the line to the indivi ual lot;however, if the requested instal1ati n is remotefrom existing lines, you may be requ' red todeposi t, in advance, one year's usag chargeswhich presently are $5.25 per month Ius tax.Normal set installation of $ 3.50 and monthlyrates (presently $5.25 plus tax) are applicable.No assurance can be given of complet' on of thetelephone facilities other than Gran TelephoneCompany's promises.

Sewage Disposal: The only sewage sy tern availableis individual septic tanks on each 1 t. OklahomaState Health Department approval of he use,location, design and construction of the indi-vidual septic tank system is require. Thedeveloper has not obtained a permi t rom theOklahoma State Health Department for the con-struction of or installation of indi idualseptic tanks on each lot. You are r quired toobtain the required permit. There i no assur-ance that you wi 11 be able to obtain a permitor approval from the health official for theinstallation and use of an onsi te se age dis-posal sys tern. Lots in Allyson Acres Hickory andRed Bud Additions are not and will n t beapproved for septic tanks unless the are sup-plied by an approved public water su ply. Thedeveloper has made no provision for he installa-tion of a central sanitary sewer sys ern norpublic water supply system, nor has he developermade any provision to set aside any oney to

5.

11 August 2, 1975

fund the installation. of such Eachlot owner is responsible for p oviding and payincosts of his own septic tank s stem which costis estimated to be between $60 .00 and $1,000.0including construction and ins allation of theseptic tank, laterals and exte s ion to thedwelling. Local health author' ties have approvefthe subdivision generally for se of septictanks; however, maximum occupa cy has not beendetermined.

6. Drainage and Flood Control: T ere is no needfor any drainage to render any of the lotssuitable for construction purp ses. No artifi-cial drains, storm sewers or food controlchanne Is have been ins taIled a d none areplanned.

7. Television: Television recept. on is availablewithin the subdivisions wi thou extraordinarycost; however, an outside ante na is desirableand the estimated cost is from $15,00 to $60.00.

ila 1\ gust 12, 1975

(c)Municipal Services:

1. Fire Protection: Fire serV1ce 1S not provided by any municip~lity norby any volunteer orgiliiization. Fire insurJncc polici.s in~y not be availa-ble or the cost of obtaining such a policy iiiay be inc eased.

1. Police Protection: Pfìlice rirott'ction is avaiL-ible only throu(jh theDela¡.iare County Sheriff's Office locùtcd in Jay, Oklaho:nù, appr-oxiiiòtely15 miles distant.

3. Garbage and Trash Collection: TrJsh b0rrels Jrc presently provided andemptied on at least a \.ieekìj basis by deveìoIH~I'. No additional (,iirt)ageor trash service is available nor proposed. Developer is not ohligatedto continue such trash service and may cease providing the saiiie at anytime. No assurance can be given of continued trilsh service. The esti-mated cost of garbage and trash service is unknown.

4. Publi:. Schools:

1. Elementary School: The nearest elementai'y school is located inJay, Oklahoma, approximately 15 miles aistant. Scho transportationis provided by the Jay, Okìahoma, school district.

ii. Junior High School: The nearest junior high sc 001 is located inJay, OklahomJ, approximately 15 miles distJnt. Scho 1 bus transportationis provided by the Jay, Oklahoma, school district.

iiL High School: The nearest high school is in Ja , Oklahoma, approxi-mately 15 miles distant. School bus transportation is provided by theJay, Oklahoma, school district.

5. Medical and Dental Facilities:

i. Hospital Facilities: Jay Memorial Hospital, app oximately 15 milesdistant is privately owned and provides general hosp tal services. Itsbed capacity is approximately 31. Aiibulance service is available throughLawson Funeral Home and Clark Funeral Home, both loc ted in Jay, Oklahoma,approximately 15 mi les distant.

11. Physicians and Dentists: Physicians' and denti ts' offices arelocated in Jay, Oklahoma, approximately 15 miles dis ant. Public trans-portation is not avai lable.

6." Public Transportation: Public transportation is not available from thesubdivisions to nearby municipalities nor is any pro osed.

7. U.S. Postal Service: u.s. Postal Service does not d liver mail to eachlot. The nearest location where you can pick up you nßil is Post OfficeBox 376, Disney, Oklahonß, which Post Office ßox is ocated at thesubdivision office in the subdivision. The Post Off'ce responsible forservice to the area is in Disney, Oklahoma, approxim tely six milesdistant from the center of the subdivision. It does not have a streetaddress.

12

11.

i"

12.

f

:1 Ii"

Will the water supply be adequate to serve t e anticipatedpopulation of the area?

The developer has not obtained an engi eer i s reportor a hydrological survey indicating th source andquantity of water in the subdivision (' ncludingsubsurface sources and Grand Lake) and accordingly,there is no assurance that a sufficien quantity ofwater .will be available from the subsu face' suppliesand Grand Lake to serve the anticipate populationof the ,area.

Is any drainage of surface water, or use ofto make lots suitable for construction of aresidential structure?

ill necessaryne'-story

The following lots will require modifithe natural drainage channels or fillconstruction: Drainage modif ication rLots 34, 35, 421 44, 45, 46, 61 and 75of Echo 1. Fill required to Lots 42,in Block 1 of Echo 1 and Lot 5, BlockAmended. All other lots have adequatedrainage and space to accommodate a restructure. The. cost to you, if you buthese affected lots, for the drainagetion or fill may range from $50.00 to

at ion of" eforequired toin Block 11 and 75, Echo 2naturalidèntialone of

odifica-$200.00.

If yes, state whether any provision has beedrainage and fill and give estimate of anywould incur.

No provis ion has been made for drainaThe cost of such drainage modificatio($50.00 to $200.00) will be paid by ypurchase one of the affected lots.

e or filL.and fillu, if you

13. State whether shopping faci Ii ties are avail ble in thesubdivision; if not, state the distance in iles to suchfacilities and whether public transportatio is available.

Shopping faci Ii ties are not presentlythe subdivision. Shopping facilitiesare available approximately 15 milesOklahoma, and approximately 10 milesLangley and Disney, Oklahoma. Publicis not available. The nearest publicis approximately 30 miles distant inOklahoma.

available inin generalistant in Jay,istant intransportationtransportationini ta,

13 Aug st 12, 1975

14. Approximately how many homes were occupied s of Apri 11975?

15. (a)

72. Since the area is recreational in nature,occupancy varies according to the ow ers idesires and is almost entirely recre tional innature.

State elevation of the highest and 1 west lots inthe subdivisions and briefly describ topographyand physical characteristics of the roperty.

Topography is hilly, and the so' 1 is thinand rocky. All of the lots expduring heavy rains, but such erto Oklahoma and not cons ide

redNormal ground cover exists in tmaintained normally eliminatesMany lots have trees and shrubscleared before construction.

13a

rience erosionsion is normalo be a problem.e area and ifhe condition.which must be

Au ust 12, 1975

The elevation of the highest and owest lotsin the subdivisions are 965 feet (approxi-mately) above sea level and 750 f et (top ofGrand Lake flood control) above s a level,respecti ve ly .

i

1

(b) State in inches the average annual rai fall and, ifapplicable, the average annual snowfal for thesubdivision or the area in which it is located.

The average precipitation is 56 i ches of whichless than 10 inches is snow.

(c) State temperature ranges for summer an winter, in-cluding highs, lows and means.

The average temperature ranges fo summer andwinter are generally as follows:

Sunue Winter

Normal HighNorma 1 LowMean

946780.

514548

6. will any subsurface improvement, or special foundation workbe necessary to construct one-story residen ialor commer-cial structures on the land?

Yes.

If yes, state if any provision has been madany costs buyer would incur.

The following described lots have a gof 25% and require special attentionconstruction techniques and cons tructhomes on these lots could be 10% to 1the construction costs on the other 1

and estimate

ade in excessnd specialon costs for% higher thants:

Grand View Addition: Block 2, Lots 3 4, 5, 6, 7and 18;Golf Addition: Block 5, Lots 3, 4, 114; Block 7, Lots 2, 3 t 10, 11 and 12Lots 1, 2, 6 ~nd 7; Block 9, Lots 23,27, 50 and 51;Hickory Addition: BIDck 1, Lots 1, 2, 5, 6, 7and 8; Block 2, Lots 2, 3, 6, 7, 10, 11, 14, 15,16,17,20,21,24,25,26,29 and 30: Block 3,Lots 1, 5, 8, 11, 12 and 15; Block 4, Lots 5, 6,10, 11, 12, 13, 22, 26 and 27: Block 5, Lots 7,8 and 9;

l

L

, 12, 13 andBlock 8,24, 25, 26,

14 Aug st 12, 1975

Red Bud Addi tion : Block 1, Lots 1,7~ 8, 9, 11,12, 13 and 19; Block 411, 12,25," 26, 28, 39, 41, 43, 44,Echo 1 Addition: Block 1, Lots 2,21 through 25, 29 through 36, 38,4through 71, 72 through 82, 86, 87,and. 98; Block 2, Lots 1 and 2;Echo 2 Amended Addition: Block 1,4, 5, 10~ 15 and 16; Block 2, Lotsthrough 8, 9, 10,13~ 14, 15, 16, 1through 26; Block 3, Lots 1 throughL6ts 1, 3 ~nd 4; Block 5, Lots 1, 2The Estates: Block i, Lots 6 throu26, 27; Block 2, Lots 12 and 14; Bl12, 16, 17, 18, 21, 24~ 25; Block 4and 7; Block 5, Lots 7, 8, 13 throuLots 8, 9, 10, 16 through 19, 35, 3

14a

2, 3, 4, 5, 6,Lots 2, 9,

, 4 5 and 46;, 14 through 19,, 45, 46, 559, 91, 92, 97

ots 1, 2, 3,, 3, 4, 5, 18, 19, 2110; Block 4,and 5;h 14, 22, 23,ck 3, Lots 11,Lot.s 5, 6

h 17; Block 7,and 3 7 .

Au ust 12, 1975

1

The geology of the area is known as theOutcrop, which is sometimes jointed andand is predominately rugged relief. Thgenerally loose gravel, clay and sandybedrock in the general area is co~sideris generally found to be less than fourthe surface. Footings and foundations,on the bedrock, are considered sound.lots are hilly, rocky and have trees anand construction techniques will have tfactors into account, but such techniquunusual.

l7. State whether there is physical access by conautomobile over legal rights-of-way to all 10common faci li ties in the subdivisions. Stateaccess will be by public or private roads andwhether they will be maintained by publLc or

All of the roads in the subdivisions anto the common facilities have been dedipublic use forever and will be maintainCounty Commissioners of Delaware Countymi tting. There is legal and physical ac$24.00 per lot per year assessment mayroad maintenance in addition to maintenprovided by the County Commissioners ofCounty. All of the lots in the presentarea can be reached by conventional authowever, the following lots border on rare very steep and physical access mayespecially during the rainy season: Lo59 through 64 in Block 1 of Echo 1 and5 of Echo 2 Amended Additions.

18. Has land in the subdi vis ions been platted ofYes.

Boone Chertfractured,top soil isoam. Thed solid andfeet be lowwhen foundedost of theshrubs,take these

s are not

entionalsandwhether thestreets andrivate funds.

roadsto the

d by th efunds per-

ess. Thee used fornce beingDelawarey subdividedmobile;ads thate difficults 3 4, 35 andot 3 in Block

19. Have the corners of each individual lot been staked ormarked so that the purchaser can identify his lot?

j I

~ \

Yes.

20. Does the developer have a program in effect 0 controlsoil erosion, sedimentation and flooding thr ughou t theentire subdivision?

No. Erosion and flooding could result in propertydamage and could create a health and s fety hazard.

15 Augus 12, 1975

.'-- '_-,"_,U~.'O___'_"~"__-"~O~----~~"--O__'____'- ~________"__ '0.- nO ___ ..._.___.____. _._

21. State whether the subdivision or any of he parties in-vol ved in the development of the subdi vis ion have beenor are parties to disciplinary proceed in s r bankruptciesor litigation which may materially affec lot purchasesin this subdivision.

Yes. The developer is not. Howevdent and majority stockholder of tis a party to litigation, which, iadversely r may require him to sellthe remaining properties in bulk tnot continue the development.

r, the presi-e developerdecided

his stock and/orothers who may

22. State whether the accountant q~alified h' s opinion on thefinancial statements.

j

!

23.

!

_ lilrl

\1

\ iÎ

\1,j

O~'~~

;~O

.:,",

J;

j¡

J.1!

r

(a)

(b),~j_:j'i

:1j,~,: ,~

(e)

jj.r.

¡: I

l

~.'.

~,~

'~

Yes.

If yes, your attention is called to th~ opy of thatopinion in Exhibit A of this Property Re ort.

State whether or not the developer has a deficit in re-tained earnings or has experienced an op rating lossduring the la~t. fiscal year.

Yes, the developer has experienced an operatingloss during the last fiscal year e ded July 31,1974.

In view of this circumstance the d veloper maybecome financially unable to conti ue in businesswhich could adversely affect the f ture developmentof this subdivision.

SPECIAL RISK FACTORS

The future value of land is very uncerta. n; do NOT counton appreciation.

You may be required to pay the full amou t of your obliga-tion to a bank or other third party to w om the developermay assign your contract or note, even tough the developermay have failed to fulfill promises he h s made.

Resale of your lot may be subject to the developer'srestrictions, such as limitations on the posting of signs,limitations to the rights of other parti s to enter thesubdivision unaccompanied, membership p erequisites orapproval requirements, or developer's f. rst right ofrefusal. You should check your contrac for such

16 ugust 12, 1975

restrictions and also note whether your lien or another liens on the property would affect your righ tosell your lat.

~ (e) Changing land development and land use regulationsgovernment agencies may affect your ability to obtcenses or permits or,otherwise affect your abilitythe land.

li-use

(d) You should cons ider the competition which you mayper ience from the deve loper in at tempting to rese 1lot and the possibility that real estate brokers mbe interested in listing your lot.

.

.

;

16a August 12, 1975

,.,,-_ d__, ,... '._" _ '_-" .___. ." -. ,.": -' C;," .'"_-"'.~._..~~,__~~::""",_,_,-,_,-~-,,,'_'".__''''.~ .~.:. _______ _ _ _ __ __, ~ __ _.___ ~~ _~ __ ___ _~ __~_____~.__.,_.~~________.__________._ _~_____ _________----_-~_____ _________ __~L__~ _ ~~_ __~__ ________

FINANCIAL STATEMENTS

You should carefully review the attached inancial statementsoft h e d~ vel 0 per (s e e Ex h i bit A).

Signature of the Senior Executive Officer of the developer.

_c:t£kPresident

iI

. I.i

\:1

- I.....I!

1'1

I'iiii,'

'i iii.i

::

i 7