About Lake Hiwassee Improvement Co
A BIT OF THE “HISTORY” OF LAKE HIWASSEE WHICH IS LOCATED 1 MILE EAST AND 1 MILE SOUTH OF ARCADIA, OKLAHOMA
The Lake Hiwassee Improvement Company, a corporation, was organized in 1943, by the lot owners of Lake Hiwassee Subdivision to protect their mutual interest, when the original owners and developers of the property, the Lake Hiwassee Development Company, went defunct.
At that time the Lake Hiwassee Development Company assigned to J. M. Young, principal creditor, all of the unsold platted and unplatted lands, easements, right of way roads, lake bed, parks, fences, parkways and 25 foot greenbelt around the lake water front, together with the rights, as its assignee, to levy and collect assessments for the improvement and maintenance of the lake as was set out in the original plat dedication.
These plat restrictions are on record in the Registrar of Deeds office, Oklahoma County and create a lien on the lots when the assessments are not paid. All of these properties, rights and privileges were bought by the lot owners of Lake Hiwassee who paid by special assessment sufficient money to purchase same from J. M. Young, and the Lake Hiwassee Improvement Company now is the assignee of the original company and as such has the undivided ownership and control of the lake properties as well as the authority to levy and collect assessments for the improvement and maintenance of the lake as set out in the original plat restrictions.
All of the lots on the lake have been sold subject to these plat restrictions which run with the land.