PROPERTY REPORT

FOR
ALLYSON ACRES DEVELOPMENT
OF
STUDEBAKER LA ND CO.
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'\OTIC E AND DISCLA IME R BY

OFFICE OF I'\TERST A TE LA NO SA LES REGISTRA TION
U. S. DEPARTMENT OF HOUSINCì AND URBAN DEVELOPMENT

This report is not a recommendation or endorsement of the

offering herein by the öffice'of Interstate Land Sales Regis-
tration, nor has that office made
an inspection of the property
nor passed upon the accuracy or adequacy of this report or any
promotional or adve rtising mate,rial used by the seller.
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It is in the interest of the buyer or lessee to inspect

the property and carefully read all sale. or lea!le documents.
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Prospective buyers and lessees are notified that unless
they have received this Property Report prior to, or at the same
time they enter into a contract, they may void the contract by
notice to the seller.
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;''''-, - Unless a buyer or lessee acknowledges in writing that he
has read the report and personally inspe cted the lot prior to
signing.'his contract he may revoke his contract within 48 hours
from the signing of his contract, if he has received the Prop-
erty Report less than 48 hours prior to signing 8u!=h contract.

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Effective Date: September 18, 1972

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LIST OF SUBDIVISIONS
COVERED BY THIS OFFERING
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I.d furth.er answer to Question 2, t:ie' following
have been included in this offering which 'is registered with
Office of Interstate Land Sales Registration.
Subdi vi s ion Block Lots
Allyson Acres South 1 1, 3-11, 13, 14, 16-18' 20
2 4-29
3 1-3, 6, 10 &11

.~' ~ 4 1-8 & 10

5 2-5
6 1-4
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7 6-18, 23 & 24
8 5-10, 12 i 16, 18-22
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~ A11yson Acres West 2 4
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~r,. ' 3 1-4, 6 & 7
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Al1yson Acres East i 10-12 .
3 1,3,5&6 i ,~:,:

2 7, io, 11,,13-15 & 17

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A11yson Acres - Oaks 1 1-5 j'. ,.,r ";.

¡. Addi tion
2 1-6
3 1-4
4 ,/ 1-7
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5 . :1-17 "

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6 i~56
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~r.' . Allyson Acres - Valley 1 1, & 2 ~~: ),',\"'~~':_"..k.'.';.

t~:~~~~' View Adài tion .:.; _ A' r :_~~

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2 1-19
ií;~t~. ". 3 1-38 /~li~
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4 1-35
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5 1-5
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l~¡':. " Al1rson Acres - Dogwood 1

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Addi tion 1-14 ; '."
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2 1-5
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4 1-17
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5 1-4
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7 1-14
8 1-8
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· 9 1-26
10 1 & 2
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Al1yson Acres ,. Hill top 1 1-6
Addi tion
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2 1-22 j
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'I 4 1-21 ;0: ".~

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6 .1-43
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7 1-7
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8 1-16
Al1yson Acres - Mobile ':r.

Vista Addition
1 1-30
2 1-14
3 1-39
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4 1-37
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6 1-32
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7 1-15 . .
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 1. Name of Developer: STUDEBAKER LAND CO., an
Oklahoma Corporation ;,
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Address: Route 1 Eucha, Oklahoma, and'

P. O. Box 3281, Tulaa, Oklahoma
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2. Name of Subdivisions: Allyson Acres South
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Allyson Acres East
Allyson Acres West
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\ :-. Allyson Acres - Oaks Addition .'
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Allyson Acres Hilltop Addition

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Allyson Acres Dogwood Addition "l"
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Allyson Acres Valley View Addition . ~~i, .
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Allyson Acres Mobile Vista Addition \i,

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". '. Location; Delaware County, State of
,Oklahoma
l~~~~~:~:"-' a, Effective date of Property Report: Septembe:i 18, 1972
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b. This offering consists of the subdivisions and lots
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described on pages 2 through 5 of this ~roperty Report. ,.\
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!;.. ",¡;" " . 'l;.,~ 3. List names and populations of surrounding communities, and
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~.. . ",;'it~v/~~.:;:f; ~ " . list distances over paved and unpaved roads to the subdivision:
~ '~ Distance t .\

Over .~ "
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Name of. Paved

Community
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Popu1a tion Roads U~paved Roads TO,tab.
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~ .,"~" Jay
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~'." ,",,, ..,~':f . 1,594 13. 8 miles. 1. 2 miles
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¡;t:~id 'i;,.1'~', Grove 2, 000 28.8 miles 1. 2 miles

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Disney 303 8. 8 miles 1. 2 miles
'. Vinita 10 mil.ea~' ....:, .,'. ,
~~~, 5, 847 28. 8 miles 1. 2 miles , ~ 30 miles ,.:d:
tiJ/~ . Tulsa, 331,638 68.8 miles 1.2 miles
#.~\,:. . . 70 miles .,;i;.
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(~~;. 4. a. Will the sales contract be recordable? ~Ye8 :'.¡:".

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.;_~.,'/ .r b.rn the absence of reco.rding,coqld the develop~ , .
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erl~ creditors or others acquire title to the property ..
free of any obligation to deliver a deed to the buyer
whentina1 payient has been made under the sales con-
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''',''''''.'.'',.. tract? Yes. In Oklahoma, a judgment against the seller ...! "A1~liJ~i~
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i:l:" " constitutes a lein upon all real estate owned by the
se'ler, and it may be foreclosed potentially detriving
a buyer of any interest therein unless the buyer recorded
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his contract priQr to entry of the judgment. Bankruptcy
~d of the se ler could result in depriving the buyer of any
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interest in the property, if the contract was not tiriely
recorded. To date, the developer has invariably delivered
..title to all buyers upon their payment of the full purchase
price.
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c. What provision, if any,. has been made for refunds'
if buyer defaults? Earnest money or down
payments wil be.
retained by the seller, upon buyer's default under a contract "~~~J!
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for sale, as liquidated damages. Under Oklahoma law, absent... " ~"

agreement between the parties, the contract for deed, install-':

ment sale agreemen' or mortgage securing the buyer's indebted,"¡:'"
ness should be foreclosed pursuant to sta "utory autho:rity,
and any sale proceeds in excess of the balance of the ..
indebtedness plus foreclosure costs should be refunded.to
the buyer. If tlE sale proceeds do not equal or exceed th.é .
balance of the indëbtedness plus forec1osurecosts and ex-
. penses, then the buyer is liable for the deficiency.,
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d. State prepayr~t penalties or privileges, if any. The ,-r .

buyers have the privilege of full or partial prepayment

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of their indebtedness without penalty. Interest shall
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accrue thereafter on the unpaid principal balance only.
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5. Is there a blanket mortgage or other lien on the

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subdivision or portion thereof in which the subject property, .~_: '.,1

is located? Yes. If yes, list below and describe arrangements,'

~' if any, for protecting interests of the buyer
if a developer ,
'._/l' defaults in the payment of the lien obligation. If there is ,~ùch .~

:(:':,1 . a blanket lien, described arrangements for release to'a buyer of

~::;~~ (' : 'individual lots when the full purchase price is paid. .
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(Effect on Buyer
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I:": (Type of Lein) if Developer Defaults) ..
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First Mortgage and This lien is to be released upon payment in

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Loan Agreement full of the purchase price at, the time of
closir~ or upon payment of $400.00 per loti
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.1; and assignment of åny installment sales con- :i;"
.. f., tract, contract for. d~ed or p.romissory note;. .'
and mortgage. Prior to release of the lieii ' ,S,'
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the property remains subject to the mortgag~:(~~"',\.
and loan agreement, and default by the de.e"~:10,~"¡i:i
loper could result in foreclosure of such",il;'/';;~,"~~"
r.~ lien depriving buyer of anYtnterest thereiÒ.;:'t:~i'n:'~:':
~r ::~~;. t~f ::~~:=eì:fi=lie~~;t~g~~;e~~:.:~~: l::;;:~gl::::0:;~:i~ee '. :'1:Ê,t\~'~
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seller's failure to perform. .
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in addition to, or as distinguished from, sales? No. Individual
iJ~Y lots may be improved and lessed as iniproved, but the same do not i'
constitute part of this offering.
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7. rs buyer to pay taxes, special assessments, or to

make payments of any kind for the maintenance of common facili-
ties in the subdivision (a) before taking title or (b) after
taking title? Yes. Installment purchasers will be required to
pay taxes and special assessments (and in Allyson Acres Solth.
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Oaks, Hilltop, Dogwood, Valley View and Mobile Vista Additions
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make payments for the maintenanc.e of common facilities in the
subdivision) prior to taking title. All purchasers, after taking
title, will be required to pay taxes and special assessments (and
in Allyson Acres South, Oaks, Hilltop. Dogwood, Valley View and
Mobile Vista Additions make payments for the maintenance of com-
mon facilities in the subdivision) as provided below. If either
answer is yes, complete the schedule below:

Approximate Amount of
Buyer's Annual Payments,

Taxes Consult local taxing authorities.

Special Assessments Consult local taxing authorities
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Payments to Developer $24.00 per lot iÌi Allyson Acres ;" '," ."-
South, Oaks" Hilltop, Dogwood, .,

Valley View and Mobile Vista Add- ' 1"

i tions . ~., . .. "
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.¥", Othe r None known

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8. a. Will buyer's down payment and installment payments

be placed in escrow or otherwis-e set aside? No. If not,
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will title be held in truæt or in escrow? No.
b. Except for those property reservations which land
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developers commonly conveyor dedicate to local bodies or
I). public utilities for the purpose of bringing public services
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to the land being developed, will buyer receive a deed free "
-?~:~r ' ~ .'.~; of exceptions? No. For the purposes of orderly development,
f': safety and to provide a pleasant appearance, the subdivi-
,!,
sions are subject to certain "Restrictive Convenants" which
are summarized herein. hnprovements are suhject to prior .'

written architectural approval from developer or the archi-

tectural committee when formed. No single residential
dwelling containing less than a specified number of square
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..jl feet shall be placed on certain lots. All buildings must ~ :" f~:r,~r~.
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be placed on permanent and solid type foundations, footings
or piers of concrete or masonry. Iioperative vehicles, "ì'" ~ ~'"
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salvage and junk material and piles of brush shall not be ," t,tf?g£,
;1 permitted upon the property and shall be disposed of in "\ 1:':'
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., a safe manner. liprovements shall be kept in repair and
 .' grass cut below 18". No tràilers, tents or structures,
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'. shall be used for residential purposes other than as
approved by the architectural authority. No structures
shall be moved into the subdivision. Construction and
,maintenance of all structures shall be in accordance with
Oklahoma State Department of Health regulations. Mo out-
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door privies shall be permitted. No noxious, offensive, . '.-~i .

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unsightly, malodorous or unhealthy activities or condi- ..;,

tl.'f"" tions shall be permitted. No horses, cows, swine, sheep

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or goats shall be permitted in the subdivisions. The
building set-back line is 15 feet. Construction, once
i;¡'~¡ started, must be completed within 12 months. Garbage and
trash burners and receptib1es must be hidden. Parking on .r

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the roadways i8 limited to one hour, and the speed limit
is 25 miles per hour.
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-~ '~'. d.
" With regard to Allyson Acres South: Lots 25 through
35, Block 2, and Lots 11 through 14, Block 4, Allyson
Acres South Addition, are restricted to Mobile Homes with
500 square feet or more; Lots 6 through 8, 19 and 20,
Block 4, and Lots 2~ 'and 24, Block 2, are restricted to'
Mobile Homes with 150 square feet or more Lots 4 through '" .
. ;\
9 Block 7, are restricted to Mobile Homes with 400 square
).~- .'~ feet or more. Mobil Homes are subject to appearance'
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~- ~ ~ v~. approval from Developer and are restricted to one per 10,t.
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There shall be only one building per lot and no, ; ,

~~~. signs. No building shall be placed nearer than 15 feeL,,:"

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to any road line, and no structures shall be placed on" . '
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easements nor nearer than 5 feet to 'any ownership line...:,
Additions to structures must have prior wr,itten
.~~ .' .appr,oval.t:.,:,
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.:, ~~.rt/._j.: A fee of $24. 00 per lot (in Allyson Acres South,,'
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,:t.';~\ ,:~~~;~ :.( oaks, Hilltop, Dogwood, Valley View and Mobile Vista)
i'!.. ,'i"¥~~;~;::., per year shall be charged to each lot owner for upkeep .:!'f' .-....

of roads and beautification.

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Buyers are referred to the full set of lIReøttfètive
, "
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Convenants" applicable to each éubdivisionforfulld~tai1s"
f&~~::'.;l and variances of the restrictions and covena.nts.Tle
. )0 r.. . _ , 0 _ _ J _ ~.
,- 'above is a summary of the restrictiohs thatapply tô' ea.ch ,
'subdivision subjec:t- to a few variàtion8~ ;-: :,' '
,~,.: ;; lot in each ;~~i;~rt~r~
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:Lots were platted to start where flowage eaaemènts
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terIlinated; however, it is possible that some of the IoU,
f~~JCd ,
,are subject partially to flowage easements. ,. d .....'

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The Developer reserves the right of ingress: and"
egress to all easement a,nd public areas and the right to ,,'.
i:/... drill and install water wells and supply equipment for the
~t"- purpose of serving the subdivisions and other areas.
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c. Buyer should determine permissible uses of the
property from local zoning authorities. -~ ,.

:,d. List all existing or proposed unusual conditions

relating to the location of the subdivision and to noise, i ~. ..'
safety or other nuisances which affect or might affect the
subdivision. Oklahoma is subject to violent windstorms
and tornadoes which occur mostly during spring and early
,,! summer, although occurrances have been noted throughout
the year. During dry months the area may be subject to
brush fires.
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9. a. List all recreational facilities currently
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~ available. Television reception, beach, boating, swimming
fishing, water skiing and other water sports on Grand Lake.
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i' .\ State any costs or assessments to buyer: A charge of
$24. 00 per year p'er lot in Allyson Acres South, Oaks
Hilltop, Valley View, Dogwood and Mobile Vista Additions
is provided in the restrictive covenants applicable to the
,Ú.,. subdivisions for the maintenance of roads and beautifica-
tion.
.. b. If facilities are proposed or partly con:1eted, ..
.~ ~) state promised completion date, provisions to insure
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completion, and all estimated costs or assessments to' buyer.
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..~;';.. No additional facilities are proposed. No assurance, can ..e .'
~j'; , be given that any will be finished or maintained.
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10. State whether the following are now available in the
',,~,~5 subdivision: Garbage and trash collection, sewege disposal,
jr~: paved streets, electricity, gas, water, telephone. If yes,
....r.
state any estimated costs to buyer. If proposed or partly com-
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pleted, state proposed completion date, provisions to insure
completion and give estimate of all costs including maintenance
costs to buyer. .to .
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Minimal garbage and trash collection is available through
the use of trash barrels presently provided and emptied on a
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"\.'\. weekly basis by seller. No additional garbage or trash se:rvice
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~\;t is proposed. The cost of the presently provided garbage and trash
---~" .',: service is paid by the seller. Each individual lot owner will . .-..c;~¡
~~F '.'1. pay directly for his own additional garbage and trash service.
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No arrangements have been made for a sewage disposal system. " :::i;~~lt4
The land is suitable for septic tanks provided that the lot i~
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large enough. The septic tanks are to be provided by the buyers '
at the buyers' cost which is estimated to be approximately $250.,ÓO.
No percolation tests have been accomplished.
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The road system within the subdivision consists of approxi-
~; mately 1. 8 miles of roadway topped with double bitumis chips and
,
approximately 11 miles of graded roads with natural gravel base.
¥S;:, Such roads are considered all weather for the area. All roads
tr,~' .~ ;.:/ .
~\~.;~ have a dedicated width of 30 feet. AU of the lots in the
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 sUOQiViS10ns can be reached by coirentional automobile. There;
'~',):~l~;f:~~A'- :".., are no proposed improvements to the road system within the 8ub~ ,"

~ "
divisions. Developer is considering asphalting the principal . "'~"d~'¡'
, ,:,-,,,~;~~~~~f:tt7:

roads, but no as surance can be given that this will be done.

Electricity is available from Northeast Oklahoma Electric

Co-operative of Vinita, Grove and Jay, Oklahoma. The supplier
is a public utility company and a Rural Electric Co-Operative.
Electrical facilities have not been extended to the individual .': /: ~:'
....";
lots but are available to each lot owner upon request of North- -1",t,,~, I
east Oklahoma 'Electric Co-Operative. '
. ! ./, .~; .-

Liquified Petroleum Gas (LPG) is the only available;o41~e'

of gas supply. It iS,availab1e through LPG companies in Jay iand"\,
ç~~:' Disney, Oklahoma, at a price of approximately l5Ç per gallong aa
of March, 1971. Each individual
lot purchaser will be respo~~,~'::f
~;"'~'d ble for,contracting for and installing his own gas sUPPly:Whic,h;;:,
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"',, is estimated to cost approximately $250.00 to $500,. 00. :~):"1
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The only availabLe water supply is the water table, exist;;-
ing approximately 120 to,706 feet below the land surface. ' Each
land owner will be responsible for his own water supply and the' "
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drilling of any desired wells. No'tests have been performed'by_,~ '
~~~:~'-~: ' a qualified engineer, to determine if the supply will be adeqùatei":j._':/'\":"'d!",.~:::;;i~',,,\,;
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,J ,to serve the anticipated po~lation of the subdivision; however,':"'~:~'.~' :.""~,,d'!~':¡~i,:;J,~j'l:~~"
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results from the d:rilling of and production from 'at least tW~ :~~~.-~:~t;~';,,~':;~~:l'i~/i;'~A:';:'"
wells on the property indicate that an adequate supply exi..t8..;~:::"~,:d ".it;\~"~1~r''-r~ik;;':~'~~;
The:~8timated cost of installation of 'a water s'ystem incl~diii"";::!E!:(,i\+)~~;~~t~~¡;;,gÆ~
. -" ~, ',."' - "t¡-¡-:r... -i.;\ ...." . .... :..,

the ~rilling of a well is be~ee.n $500 and $2, 000,..00 depe,~~Ui8.i~~~\;:~j,;)1~:~f i';;:~¿~(~
quality. Water from the existing wells on the Pl'_opertYli8.iit~;,J\;'"':':~;f,è;~~\;'~~Z:ft~\;
been test,-ed , The developer is
drilling wells in the 'area ana,~~r; " \;';~.)'::'F;,:;,+G:;,
stalling a water distribution system that presently is optional;,:' c:"';.: ~\\i\;:"~:;\'
for the lo,t owners. The current cost for such water system t.8;~ \. ,!;.::',;\-i:j~~;ffJ.j",
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approximately $500.00 for a water tap plus $6.00 per month'"fo,~,,', :;d:~/ç.;r;i'/~";"
water service.. There is no assurance thqt the cost will not Jn~;i:'~c' '",;i';;";:~t-~'!:""'l
lr','tL;'
',"',,: crease. ' '. ,~, "Ti~:;",' ' ~~~~,;,~;t~:'~"~j:r:\"
" Grand Telephone, 10 cated in' Jay, Oklahoma, approximtely 15"" '~' ,
miles distant, provides service of telephone facilities in the ,lhibdiv:i8ioi-~../':;/~" "
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11. Will the water supply be adequate tò serve the åntieipated c~!,'." ,'"
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population of the area? No tests have been performed by- $.'qualifièd ' 'rl't"~;:èdfd
engineer to determine if the water supply will be adequate t08e:r~e the' 'r¡\,::;T~i:"~\/;';\,
anticipated popi lation of the subdivisions; however, results,frorn the '4;,'hr';~:fj,it
drilling of and production from at least two wells on the property" ""fÄt'''i$';:-;....
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~l~. indicate that an adequate supply exists. "l','dt~':'Ff:~::è::'':

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l -. i:~.. . 12. Is any drainage of surface water, or use of fill nec,essary' "~l.L~\;:~'
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to make lots suitable for construction of a one-story residential" structui1,1 :i~::~,~í'~;/
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..;~ No. If yes, state whether any provision has been made for drainage or "',;',Jf'~J,'
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fill and give estimate of any costs buyer would incur. Not applicable. d:ei':'" ')'.~,;
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.),:~'"',: 13. State wh~ther any of",the following are currently. available;, .",L.'
in the subdivision: Schòols; medical facilities (hospitals, doctors, dentists);"
shopping facilities. List availability of public transportation to and distance o'f l",'
facilitY: from geographic center of subdivision. The following facilities '
are available near the subdivisions at the distances and locations stated
below:
.;;

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Distance from
Geographic Center
&fi,' Facility of Subdivision Location

It
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Elementary school 15 miles

Junior high school 15 miles

Jay, Oklahoma
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Jay Memorial Hospital 15 miles ,Jay, Oklahoma
Physicians and dentists 15 miles Jay, Oklahoma

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Sporting goods 1'0 miles Langley, Oklahoma
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Groce ry 10 miles Disney,Ok1amma ,.:,,"

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Car service station 10 miles Disney~" Okhoma" f;f;,R~; ß~
Dry (g,o,o.ø 10 miles' :~ ~.n:~:t:~~~::=);~~t~;l~~'
Laundromat 10,miles
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The local school district provides bus service to a,nd frotni,tbe sub;: ,.. r,::":'~;t:\:' '.
divisions.' Ambulance service is available from Lawson Funei:al Home ',.,;', ::.,
and Clark Funeral Home, both located in Jay, Oklahoma. Jhere~.s.:",:,,;:~:;'~". ~"'"
no public transportation serving the subdivisions., The nearest public, ' i;,F":.;';'
i7 r: '.-.J. f:""'- ~
transportation is approximately 30 miles distant
in Vinita,,;!0k1ahoma. ':',~;t\;/:'JI ','
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14. Approximately how many homes were occupf~d ~ä.'òf th':,';.','At/.~:d:rr/;-:
31st day~of July, 1972 ?30. Since the area is recr.eationai (n,i;atur~..d ,',';::J:/t,;\.f'."."::
..._ _'". ..". . ~i.~. ,,'='r~_" 't" .

occupancy varies according to the owner's desir~s... " ".~'" ':d"~)'?:i!i~:,:::'it;,

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15. a. State elevation of the highest and lowest lots i:n the . ;,;:f:::~ "":
àubdivision and briefly describe topography and physical charact""1..1'~;":r~'.;,"
~.....U:,.! L,':~ .i~': ;,,~_:!~,y.,
eristics of the property. Topography is hilly, and th.esoiliø thi~b;.~:";::J.Jé;',;¡;;ttC;
and rocky. Some of the lots have erosion problems.:
Many lot.",:,;:t:~l ;~%";~:
have trees and shrubs which must be cleared before'cònstructioQ.~~~:'r3
Some of the lots are on the shore of Fox Hollow COYEf on D.rowninl;:;\~
Creek of Grand Lake. The level of Grand Lake f1uctuate8~ and' ,':,AJ'\¡~' r ,i.':~ß" t
those lots on the shoreline are possibly subject to a .food .~,-,:~~l

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)~:~t; , control easement; however, each lot was designed to,end
at the top of the flowage easement. T,he elevation of the
highest and lowest lots in the subdivisions are 900 feet
.. (approximately) above sea levd and 754 feet (top of Grand
Lake flood control) above sea level respectively.
b. State in inches the average annual rainfall and,
if applicable, the average annual snowfall for the subdivision
or the area in which it is located. The average precipitation is
56 inches of which less than 10 inches is snow. -"

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c. State temperature ranges for summer and winter,
including highs, lows and means. Temperatures are not avail-,
able for the Grand Lake area. At the Tulsa International Airport,
the temperature ranges to a high of noo and a low of approximately
500 in summer. In winter, the temperature ranges from a low of
3,0 to a high of approximimately 86°. Mean temperatures are not
available.
16. Will any subsirface improvement, or special foundation
work be necessary to construct one story residential or commercial
structures on the land? No. If yes, state if any provision has been
made and estimate any costs buyer would incur. None of the land in the , .

subdivision will require corrective work before construc1ure of a one-

story residential structure; however, normal site clearing ana foundation
prepåration are required byt are, not considered "corrective work". No
unusual construction techniques will be necessary
,
to build on any part'of the l)
land. Most of the lots are hilly, rocky and have trees and shrubs, and con-
struction techniques will have to take these .factors into account, but such
techniques are not unusuaL. None of the land will require fill before ton-
structiön.
17. Are all lots and common facilities legally acce8sible by
public road or street? ' Yes. If not, explain. Not applicable.

18. Has land in the subdivision been platted of record? Yes.

If not, has it been surveyed? It has been surveyed. If not, state estimated
cost to the buyer to obtain a survey. Not applicable. "",,~!'J.r
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19. Are lots staked or marked so that buyer can locate his lot:?' Yelir':'~"':u

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