This looks like footage filmed at Rex and Betty Waterall's lakehouse at a party celebrating Ronnie Waterall's high school graduation.
00:05 Nancy Waterall and her mother Betty Waterall
00:12 Ronnie Waterall
00:45 Rex Waterall
00:50 Sean Rednour very upset that his father is filming him.
01:06 Betty Waterall
01:40 Tricia Waterall
01:45 Tricia Waterall being held by Lis Rednour - who then goes on to dance with several other ladies at the party.
02:40 Ronnie Waterall schmoozing with friends.