SCHOOLS

A twelve grade combination elementary and high school is

located in the community of Bonanza approximately 6 miles from the tract. School bus service will be provided.

SHOPPING FACILITIES

Limited shopping facilities are located in the town of

Bonanza, approximately four miles from the tract. Complete shopping facilities are located in Klamath Falls approximately 25 miles from

the tract.

PUBLIC TRANSPORTATION

Public transportation is not available to the tract.

* ** *

*

MEADOW LAKE DEVELOPMENT CORP. AND LAKE AND STREAM

DEVELOPMENT CORP., Oregon corporations, dba Klamath Falls Forest Estates, Unit 4, are hereby authorized to sell their securities consisting of 1,490 lots for seasonal-recreational use only, for not more than the consideration and in the manner and on the basis set forth in its application filed with the Real Estate Commissioner of the State of California on December 7, 1964, together with the forms and documents submitted therewith and thereafter submitted prior to the issuance of this permit, together with any changes or modifications which the Commissioner, in his discretion, may hereafter approve in writing.

This permit is issued upon each of the following conditions:

1. That no changes be made in the offering until

2.

prior consent of the Real Estate Commissioner
is obtained.

That all California purchasers' funds shall be
delivered to the seller by the next business
day following receipt, and the seller shall
forthwith execute and deliver a signed real
property sales contract to the buyer or return

66-628 - 66 - 30

reason the contract is not so delivered, or

if the funds are to be returned, any purchasers' funds, which are held in excess of twenty-four hours or the next business day, will be impounded in a neutral escrow depository in accordance with 11013.4 (f) of the California Business and Professions Code and Regulation 2814.5(1) of Title 10, California Administrative Code. The following will also apply:

a.

b.

C.

That no representation, oral or written,
be made providing for money-back guarantees
or refunds of purchase money for any reason
other than for failure of the subdivider
to execute and deliver the contract within
the time period stated above in paragraph 2.

A sales contract shall be executed and
delivered to the purchaser, and which by
its terms, shall provide that the seller
agrees that subsequent to the date of the
contract, he will not encumber the real
property without the written consent of
the contract buyer.

Said sales contract shall also contain a
provision precluding the vendor from under-
taking any additional offsite improvements
or performing any other work on the lot
covered by the contract which may result
in the creation of a mechanic's lien
subsequent to the date of said contract,
without the written consent of the buyer
and without filing a surety bond with the
city or county for the performance and

3.

4.

5.

d.

payment of materials and labor costs

requisite to such additional improvements.

A provision that in the event such additional
improvements or work are undertaken by the
subdivider, he will furnish the contractor

making such additional improvements or
performing such work, a copy of this

subdivision public report and permit.

That a true copy of this permit and public report,
and a copy of the Declaration of Restrictions, shall
be given to each prospective purchaser prior to signing
the contract of Sale (Real Estate Purchase Agreement),
and prior to accepting any funds from the prospective
purchaser.

That applicant and its agents shall comply in all
respects with the provisions of Article 8 (commencing
with § 10249 of Chapter 3 of Part I, Division 4, of
the California Business and Professions Code, and
regulations adopted by the Real Estate Commissioner,
as added by Statutes 1963, Chapter 1819.

That unless revoked or suspended or renewed upon application filed on or before the date of expiration specified in this condition, all authority to offer to sell or to sell securities under this permit shall terminate and expire on June 28, 1967, (one year from date of permit) or upon a material change. All other paragraphs and/or conditions of this permit, if any, shall remain in full force and effect until revoked, suspended, or amended by order of the Commissioner. 6. That applicant shall file ten (10) days prior to use. true copies of all advertising and promotional material, and that applicant shall not use any such material

7.

8.

in any way after the Commissioner gives notice
in writing that such material contains an? state-
ment that is false or misleading or omits to state
material information that is necessary to make

the statement therein complete and accurate.
Representations in connection with the offering
shall be restricted to the characteristics which
qualify the offering of the property for seasonal-
recreational use.

Lots 1 through 22, Block 76; Lot 1, Block 77, Lot 18,
Block 78; Lots 1 through 10, Block 92; Lots 4 and 5,
Block 97; and Lot 1, Block 131, are not authorized
for sale in California.

June 28, 1966

File No. 33

Milton G. Gordon

Real Estate Commissioner

NOTE EVERY PURCHASER SHALL BE FURNISHED A COPY OF THIS REPORT BEFORE THE EXECUTION OF ANY BINDING GREEMENT TO PURCHASE SAID LAND.

This report is not an approval or disapproval of this subdivision.

This report is compiled from information filed with the Director of the Utah Real Estate Commission without personal inspection of the property. Every buyer should make his own investigation and personal inspection before purchasing.

The Commission does not regulate or govern the size of parcels, drainage, sanitation, water, and the physical aspects of subdivisions. All such matters are regulated and passed on by the local County Commissioners.

The permit holder is required to furnish Utah purchasers a copy of this report before signing a purchase order.

THIS DEPARTMENT ALWAYS RECOMMENDS THAT THE PURCHASER SEE THE LAND BEFORE BUYING.

The Commission cannot and does not vouch for the accuracy of this report. It is compiled from information in the files.

Prospective purchasers should conduct their own inv_stigation and personal inspection in order to know what they are buying.

Special notes covering the subdivision are on the reverse side of this page and should be read carefully.

DEPARTMENT OF BUSINESS REGULATION
REAL ESTATE DIVISION

DIRECTOR