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~-_. '-. \ STATE Of OKLAHO:vA t 5S:
. D£JWARE COUNTY \
J hereby certfy th this Instment
~ f"de1 ft IØ this da1

M()!( 333 P~¡;E 73 ~Ee25i975 9:85:k.

BOOK 3 3 ~ PM£ 7 ~ - l 0
SM..aD Co~ CIri" J
AGREEMENT By g-/P7'''ul?.//~
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THI AGREEMENT, made .and entered into by and between
STUDEBAKER LAND COMPANY, INC., an Oklahoma Corporation,
hereinafter referred to as "First party', and SOUTHWESTERN
INVESTMENT COMPANY, hereinafter referred to as "Second Party',
WITNESETH;
WHERES, Second Party is loaning unto First party the sum
of Seven Hundred Sixty Five Thousand Dollars and No Cents ($765,000.00)
as evidenced by a promissory note dated this date and secured by a real
estate mortgage on certain real estate, a descri:Etion of which is attached
hereto a'nd designated Exhibit "A"; and, ". .
WHERES. the parties desire to make certain representations and
agreements with respect to said transaction.
NOW. THEREFORE. for and in consideration of the mutual promiSes,
covenants and agreements hereinafter contained and set forth, the parties
do agree as follows:

I.
First Pårty represents a.nd warrants unto Second Party that it is
the owner of fee simple title in and to all of the real estate set forth
and described on Exhibit "A" attached hereto; that it is now in possession
of said real estate and knows of no one claiming title thereto adversery
to the title of First Party; further, that there are no.unpaid bills for
. labor performed on or materials furnished to said real estate, or any
part thereof, within.four (4) months last pa.st which would çonstitute
lienable claims thereagai.nst.
II.
First Part further presents and warrants unto Second Pa"rty that
no financing statements have been filed for record in Delaware County,
Oklahoma with respect to third party creditors having perfi:cted a lien'
interest in and to household fixtures, equipment and appliances which,
when installed, would otherwise become a part of the realty as fixtures
or accessions and witñ respect to the real estate described in Exhibit
"A" hereinabove. .
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First Party further represents and warrants that it is a valid and i '.'.R
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subsisting corporation, duly organized and existing under the laws of ; ~¡

the State of Oklahoma and has adequate corporate powers to own pro- ; :h~.
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perties and carryon the business which it now owns and is engaged in
and is duly authorized and has all necessary licenses and permits to .\m
carryon and conduct such business in the manner and in all states and ;' ;11
political subdivisions wherein it now operates. . .;1,

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. Second Party agrees that it shall from time to time and upon ill
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r-equest from First Party issue partial rele"ases of said real e.state ..~-
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mortgage of lots described and contained in said Exhibit '~" upon the '..'1-
. following terms and conditions. to-wit~ That at the time oC such requests: \1~HI

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-2- &nOK 333 fÂGE 74

A. First Party has. fully complied wi th all of the
terms and provisions herein, together with all
other doc~mentstions pertaining to this transaction. . I
B. First Partyïs not in default under any of the terms
and provisions òf said promissory note and real
estate mortgage.
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C. First Party shall tender unto Second Party the i
sum of.E1even Hundred Dollars and No Cents I
-.
($1,100.00) per acre for interior lots; and, the sum í
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of Three Thousand Three Hundred Dollars and No ¡
Cents ($3,300.00) per acre ;tor commercial and
lake-front lots. If a lot is more or less than one ¡
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acre then the amount to be tendered shall.be that i
~. sum which pertains to that percentage of acreage.
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D. The cost for filing such partial releases shall be i~
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paid by First Party.
I;
E. That surls received as set forth under Paragraph C.

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of this Article shall be applied by Second Party to .
thf! unpaid principal owing upon said pro:nissory note. i¡ I
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First Party agrees that it shall promptly pay all abstracting costs, ,h
filing fees, costs of surveys and appraisal.s, and attorney fees with W
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respect to this transaction, and does indenmify and hold Second Party HI
o harmless therefrom. II
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VI. II
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This agreement ,is binding upon the successors and assigns of the OJ!

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parties hereto; and, time is strictly of the eSSence in construing each
and every provision herein contained. Ii
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. IN WITNES WHEREOF, the parties have caused their names to be
subscribed to this agreement by their respective officers the day and iili:
year hereinafter set forth. . :.:1.1
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ATTEST: ./:~~j~;:;;'~':~~~~"", ~
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SOUTHW.:TERN INVESTMENT COMPANY tr
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\':~_'_':~. -'. 0'.- .~.~.,...i.J.~ By: dStt~ e &~
Vi c.,i President.
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State of Oklhoma )
8S. MC~ 333 PAGE 75
)
County of Tulsa )

Bef.ore me. the una.ersigned. a Notary Public. in and for said County
and State, on this ~ day of March. 1974, personally appeared Robert L.
Studebaker, to me known to be the identical person who subscribed the name

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of the maker thereof to the foregoing instrument as its president and
. . acknowledged to me that he executed the same as his free and voluntary act
,.,.",: c '\~d'4~ed and as the free and voluntary act and deed of said Corporation, for
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i""..~.::....,l~!l'é~ and purposes therein set forth.
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f ! ..~. ~\ ' - Give'n under my hand and seal of office the day and year last above
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My commission expires;
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State of Texas )
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County of ~ )
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Before me. the undersigned; a Notary Public, in and for said County
and State, on this ~ day of March, 1974, personally
appeared
-r"¿..,2d ~ ~) , to me .known to be the identical person .
.'who subscribed the name of the maker thereof to the.foregoing ins'trument".
as its l/ W president and acknowledged to me that he exe-~uted th~
same as his free and voluntary act and deed and as the free and voluntary
act.and deed of said Corporation, for the tlses and purposes therein set

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.)";\t\Ø:..-:~iven under my liIid and seal of office the day and year last above
. ~.

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:: -".:J-f:::,::"':My commisSion expires: l:-/-75

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EXHIBIT "A II MC~ 333 PA-C~ 76

The fOllwing described real estate and premises situated in Delaware

County. State of Oklahoma, to-wit:
(1 tract of land located in the Ei of Section l2, Township 23 North,
. ..Range 22 East,)more particularly described as follows:
Beginnng at the SE corner of the SE;l of Section 12, thence N. 860.0
feet, thence West at a right angle a distance of 265. i feet, thence N.
520 59' W. a distance of 1313;22 feet, thence N. along the East boundary
line of the SEi Nwt SE;l of said Section l2, a. distance of 329.37 feet;
thence W. at a . right angle a distance of 436.82 feet, thence N. 520 59'
W. a dista~ce of 275.25 feet, thence N. 766.6 feet to a point in the GRDA"
Taking line, the~ce N. 490 32' W. a distance of 54.2 feet; thence N. 500
491 w. a distance of 430 feet, thence N. 550 l7' W. a distance of 349.1
feet to a point in the West boundary line of the wI swt NE:L thence
S. 741. 9 feet to the SW corner of the wi swt NE;L thence S. on and
along the W. boundary line of the SEt a distance of 2640 feet to the SW
corner thereof, thence E. on and along the S. boundary line of the SEt
a distance of 2629.44 feet to the point of beginning.
LESS: All that portion of the West 100 feet ,of the wi swi NEt of Section
.I2. Township 23 North, Range 22 East, not heretofore acqui'r~d by GRDA:
.and. . .
· Th~ SEt swi and si NEt SWt and NE;l NEt sw-l. a11'n Section 12,
Township 23 North. Range 22 East; and,
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Lots 1. 2 and 3 of Se"ction 18, Township 23 North, Range 23 East. LESS:'
the NI NEt of Lot 1 of Section 18, Township 23 No¡'th, Range 23 East; and, ....

A tract of land located in the West 17.56 acres of Lot 4 of Section 7,

Township 23 North, Range 23 East, more particularly described as

Beginning at the S\V corner of Section 7, Township 23 North. Range 23 follows:

.
East.' thence North 660 feet on and along Section line to a point, thence
S~ 410 13' E. a distance of 879.65 feet to theSE corner of the West 17.65 L
acres of Lot 4, thence W. On and along the South boundary line of said J
Section a distance of 579.48 feet to the point of beginning, containing i~
4.79 acres, more or less; and, .~
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The EI NWi and the NEt of Section 13, Township 23 North, Range 22 East. -¡
LESS AND EXCEPT: A tract of land more particularly' described as follo'-:3. Jt,
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Beginning at a point 450 feet East and 390 feet North of the SW corner oI :1
the said EI SEt Nwi, thence N. 56° 03' East, 312 feet, thence N. l:::)
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38' East, 488 feet, thence N. 490 50' West. 630 feet, thence S. 16c 37' "f
West. 800 feet to the point of beginning" conta.inin~b5 acres nial\e or ,'j¡i¡j
less; and, (Other lands notnerein a s-iraëte ) 1i
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Filed: February 25s 1975 at 9: 35 A.M. i recorded in Book 333, Pages 73-80. !i

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