HomeMy WebLinkAboutPU2815 Fletcher House2007071247
09/10/2007 02:14:11 PN
Filed & Recorded in
Official Records of
PAT OIORIEN
PULASKI COUNTY
HISTORIC PRESERVATION EASEMENT CIRCUIT/COUNTY CLERK
Fees $160.00
preservation and conservation easement, made this /0' day of
2007, by and between Ron K. Young ("Grantor") and THE STATE OF
ARKANSAS, ACTING BY AND THROUGH THE ARKANSAS HISTORIC
PRESERVATION PROGRAM ("Grantee").
WITNESSETH:
WHEREAS, the Grantee is a qualifying recipient of qualified conservation contributions
under 26 U. S.C. Section 170, being part of the Internal Revenue Code, as amended from time to
time (hereinafter the "Code");
WHEREAS, the Grantee is authorized to accept conservation easements for all purposes
set forth in Ark. Code Ann. § 15-20-401 (the "Act') to retain and protect property having
significant architectural, archeological, historical, or cultural aspects;
WHEREAS, the Grantor is owner in fee simple of certain real property in Pulaski
County, Arkansas (hereinafter the "Premises"), said Premises including one
structure(s) commonly known as Fletcher House (hereinafter the "Buildings"), and is more
particularly described below;
WHEREAS, the Premises or Buildings was listed in the National Register of Historic
Places on July 25 , 1977 , and is warranted by Grantor to be a certified
historic structure;
WHEREAS, the Grantor and Grantee recognize the historical, cultural, architectural or
archaeological value and significance of the Premises, and have the common purpose of
conserving and preserving the aforesaid value and significance of the Premises;
WHEREAS, the grant of a preservation and conservation easement by Grantor to Grantee
on the real property referred to herein will assist in preserving and maintaining the Premises its
architectural, archaeological, historical and cultural features;
WHEREAS, the grant of a preservation and conservation easement by Grantor to Grantee
on the Premises will assist in preserving and maintaining the aforesaid value and significance of
the Premises both to Grantor and Grantee;
WHEREAS, to that end, Grantor desires to grant to Grantee, and Grantee desires to
accept, a conservation easement on the premises;
NOW, THEREFORE, in consideration of Ten Dollars ($10.00) and other good and valuable
consideration, receipt of which is hereby acknowledged, Grantor does hereby irrevocably grant,
bargain, sell and convey unto the Grantee, TO HAVE AND TO HOLD the same unto Grantee,
an easement in gross in perpetuity (which easement is more particularly described below and will
hereafter be referred to as the "Easement") in and to that certain real property and the exterior
surfaces of the Buildings located thereon, owned by the Grantor, and more particularly described
as:
The West 89 3/4 feet of Lot 6, Block 151, Original City of Little Rock, Pulaski County,
Arkansas, commonly known as 623 S. Rock Street, Little Rock, AR 72201.
The Easement, to be of the nature and character hereinafter further expressed, shall
constitute a binding servitude upon said Premises of the Grantor, and to that end Grantor
covenants on behalf of itself, its heirs, personal administrators, executors, successors and assigns,
with Grantee, its successors and assigns, including that such covenants shall run as a binding
servitude, in perpetuity, upon the Premises, each of the following covenants and stipulations,
which contribute to the public purpose in that they aid significantly in the preservation of the
Buildings and surrounding land area, and which help maintain and assure the present and future
integrity of the Buildings:
1. Description of Facades. In order to make more certain the full extent of Grantor's
obligations and the restrictions on the Premises and the Buildings, and in order to document the
external nature of the Buildings as of the date hereof, attached hereto as Exhibit "A" and
incorporated herein by this reference are a set of photographs depicting the exterior surfaces of
the Buildings and surrounding property and an affidavit specifying certain technical and locational
information relative to said photographs satisfactory to Grantee, attached hereto as Exhibit `B". It
is stipulated by the between Grantor and Grantee that the external nature of the Buildings as
shown in Exhibit "A" is deemed to be the external nature of the Buildings as of the date hereof
and as of the date this instrument is first recorded in the real estate records of the county wherein
the Premises is located. The external nature of the Buildings as shown in Exhibit "A" is
hereinafter referred to as the "Facades."
2. Grantor's Covenants. In furtherance of the easement herein granted, Grantor
undertakes, of itself, to do (and to refrain from doing as the case may be) upon the Premises each
of the following, which contribute to the public purpose of significantly protecting and preserving
the Premises:
(a) Grantor shall not demolish, remove or raze the Buildings or the Facades
except as provided in Paragraphs 6 and 7.
(b) Without the prior express written permission and approval of the Grantee
(which shall be granted or withheld solely in the discretion of Grantee), signed by a duly
authorized representative thereof, it being understood and agreed by Grantor that such
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authorization may not be obtained orally, by estoppel or waiver, or in any other manner other than
as expressly set forth above (the "Approval'), Grantor shall not undertake any of the following
actions:
(I) increase or decrease the height of the Facades or the
Buildings;
(II) adversely affect the structural soundness of the Facades;
(III) make any changes in the Facades including the alteration, partial
removal, construction, remodeling or other physical or structural change including any change in
surfacing, with respect to the appearance or construction of the Facades, with the exception of
ordinary maintenance pursuant to Paragraph 2(c) below;
(IV) erect anything on the Premises or on the Facades which would
prohibit them from being visible form street level, except for a temporary structure during any
period of approved alteration or restoration;
(V) permit any significant reconstruction, repair, repainting or
refinishing of the Facades that alters their state from the existing condition. This subsection (V)
shall not include ordinary maintenance pursuant to Paragraph 2(c) below; and
(VI) erect, construct or move anything on the Premises that would
encroach on the open land area surrounding the Buildings and interfere with a view of the Facades
or be incompatible with the historic or architectural character of the Buildings or the Facades.
c) Grantor agrees at all times to maintain the Buildings in a good and sound
state of repair and to maintain the Facades and the structural soundness and safety of the
Buildings and to undertake the minimum maintenance program attached as Exhibit "C" so as to
prevent deterioration of the Facades. Subject to the casualty provisions of Paragraphs 5, 6 and 7,
this obligation to maintain shall require replacement, rebuilding, repair and reconstruction
whenever necessary to have the external nature of the Buildings at all times appear to be and
actually be the same as the Facades.
(d) No buildings or structures, including satellite receiving dishes, camping
accommodations or mobile homes not presently on the Premises shall be erected or placed on the
Premises hereafter, except for temporary structures required for the maintenance or rehabilitation
of the property, such as construction trailers, without the express written consent of Grantee.
(e) No signs, billboards, awnings or advertisements shall be displayed or
placed on the Premises or Buildings; provided, however, that Grantee may, with an Approval,
erect such signs or awnings as are compatible with the preservation and conservation purposes of
this Easement and appropriate to identify the Premises and Buildings and any activities on the
Premises or in the Buildings.
(f) There shall be no removal, destruction or cutting down of large trees or
landscaping integral to the preservation and conservation purposes of this Easement; provided,
however, that Grantor may, with an Approval, undertake such landscaping of the Premises as is
compatible with the preservation and conservation purposes of this Easement and which may
involve removal or alteration of present landscaping, including trees, shrubs or other vegetation.
(g) . , No dumping of ashes, trash, rubbish or any other unsightly or offensive
materials shall be permitted on the Premises.
(h) The Premises shall be used only for purposes consistent with the
preservation and conservation purposes of this Easement.
(I) After the date the Easement is recorded, the Premises (or any part thereof
or interest therein) shall not be subdivided, replatted, or subjected to change in allowed land uses
including without limitation action to change the allowed land uses or land use classification and
the Premises shall not be leased, mortgaged, sold, devised or conveyed (including without
limitation conveyance of an easement or restrictive covenant) except as a unit.
0) No utility transmission lines, except those reasonably necessary for the
existing Buildings, may be created on the Premises, subject to utility easements recorded as of the
date this Easement is recorded.
3(a) Public View. Grantor agrees not to obstruct the substantial and regular
opportunity of the public to view the exterior architectural features of any building, structure or
improvements of the Premises, including the Buildings, from adjacent publicly accessible areas
such as public streets.
-or-
3(b) Public Access. Grantor shall make the Premises accessible to the public on
a minimum of two (2) days per year from 10:00 a.m. to 4:00 p.m., and at other times by
appointment, to permit persons affiliated with educational organizations, professional architectural
associations and historical societies to study the Premises and the Buildings. Any such public
admission may be subject to restrictions having an Approval as reasonably designed for the
protection and maintenance of the Premises and the Buildings. Grantee, on request of the
Grantor, shall furnish such guides and/or guardians as may reasonably be necessary or desirable
for such restrictions. Such admission may also be subject to a reasonable fee, if any, having an
Approval. The Grantee may make photographs, drawings or other representations documenting
the significant historical, cultural or architectural character and features of the property and
distribute them to magazines, newsletters or other publicly available publications, or use them to
further its stated purposes.
4. Standards for Review. In exercising any authority created by the Easement
to inspect the Premises, the Buildings or the Facades; to review any construction, alteration,
repair or maintenance; or to review casualty damage or to reconstruct or approve reconstruction
of the Buildings following casualty damage, Grantee shall apply the Standards for Rehabilitation
and Guidelines for Rehabilitating Historic Buildings; issued and as may be amended from time to
time by the Secretary of the United States Department of the Interior (hereinafter the
"Standards") and state or local standards considered appropriate by Grantee for review of work
affecting historically or architecturally significant structures or for construction of new structures
within historically, architecturally or culturally significant areas. Grantor agrees to abide by the
Standards in performing all ordinary repair and maintenance work and the minimum maintenance
program described in paragraph 2(c) and contained in Exhibit "C". In the event the Standards are
abandoned or materially altered or otherwise become, in the sole judgement and discretion of the
Grantee, inappropriate for the purposes set forth above, the Grantee may apply reasonable
alternative standards and notify Grantor of the substituted standards.
5. Casualty Damage or Destruction. In the event that the Premises or any part
thereof shall be damaged or destroyed by casualty, the Grantor shall notify the Grantee in writing
within one (1) day of the damage or destruction, such notification including what, if any,
emergency work has already been completed. For purposes of this instrument, the term "casualty"
is defined as such sudden damage or loss as would qualify for a loss deduction pursuant to
Section 165(c)(3) of the Code (construed without regard to legal status, trade or business of the
Grantor or any applicable dollar limitation). No repairs or reconstruction of any type, other than
temporary emergency work to prevent further damage to the Property and to protect public
safety, shall be undertaken by Grantor without an Approval. Within four (4) weeks of the date of
damage or destruction, the Grantor shall submit to the Grantee a written report prepared by a
qualified restoration architect and an engineer, if required, acceptable to the Grantor and the
Grantee which shall include the following:
(a) an assessment of the nature and extent of the damage;
(b) a determination of the feasibility of the restoration of the Facades
and reconstruction of damaged or destroyed portions of the Premises; and
(c) a report of all work necessary to return the Premises to the
condition existing at the time this Easement was recorded or to the condition to which it may have
been altered only where alterations are done, pursuant to an Approval as set forth in paragraph 2
of the Easement (the "Prior Condition"). If, in the opinion of the Grantee, after reviewing such
report, the purpose and intent of the Easement will be served by restoration and reconstruction of
the Premises to the Prior Condition, the Grantor shall, within eighteen (18) months after the date
of such change or destruction, complete the restoration and construction of the Premises in
accordance with plans and specifications having an Approval up to at least the total of the
casualty insurance proceeds as may be necessary to restore the appearance of the Facades to the
Prior Condition, and additional cost of work not performed or monies advanced (Grantee having
no obligation to advance funds) by Grantee shall constitute a lien on the Premises until repaid by
Grantor.
6. Grantee's Remedies Following Casualty Damage. The foregoing not withstanding,
in the event of damage resulting from casualty, as defined at paragraph 5, which is of such
magnitude and extent as to defeat the purposes of this Easement, as determined by Grantee acting
with sole discretion, then:
(a) Grantee may elect to reconstruct the Building using insurance proceeds,
donations or other funds received by Grantor or Grantee on account of such casualty, but
otherwise at its own expense (such expense of Grantee to constitute a lien on the Premises until
repaid in full); or
(b) Grantee may elect to choose any salvageable portion of the Facades and
remove them from the Premises, extinguish the Easement pursuant to paragraph 26, and this
Easement shall thereupon be of no further force and effect, and Grantee shall execute and deliver
to Grantor acknowledged evidence of such fact suitable for recording in the land records of the
county wherein the Premises is located, and Grantor shall deliver to Grantee a good and sufficient
Bill of Sale for such salvaged portions of the Facade.
7. Review After Casualty Loss. If, in the opinion of the Grantee, restoration and
reconstruction would not serve the purpose and intent of the Easement, then the Grantor shall
continue to comply with the provisions of the Easement and seek an Approval altering
demolishing, removing or razing the Buildings and constructing new improvements on the
Premises.
8. Grantee's Covenants. The Grantee covenants that:
(a) Grantee is and will remain a qualified organization for purposes of Section
170(h) of the Code. In the event that the Grantee's status as a qualified organization is
successfully challenged, then the Grantee shall promptly select another qualified organization and
transfer all of its rights and obligations under the Easement to it, which shall be the sole and
exclusive remedy of Grantor.
(b) In the event that the Grantee shall at any time in the future become the fee
simple owner of the Premises, Grantee for itself, its successors and assigns, covenants and agrees,
in the event of a subsequent conveyance of the same to another, to create a new preservation and
conservation easement either to retain such easement in itself or to convey such easement to a
similar unit of federal, state or local government or local, state or national organization whose
purposes, inter alia, are to promote preservation or conservation of historical, cultural or
architectural resources, and which is a qualified organization under Section 170(h)(3) of the
Code.
(c) Grantee may, at its discretion and without prior notice to Grantor, convey,
assign or transfer this Easement to a unit of federal, state or local government or to a similar local,
state or national organization whose purposes, inter alia, are to promote preservation or
conservation of historical, cultural or architectural resources, and which at the time of the
conveyance, assignment or transfer, is a qualified organization under Section 17(h)(3) of the
Code, provided that any such conveyance, assignment or transfer requires that the preservation
and conservation purposes for which the Easement was granted will continue to be carried out.
9. Inspection. Grantor hereby agrees that representatives of Grantee shall be
permitted at all reasonable times to inspect the Premises, including the Facades and the Buildings.
Grantor agrees that representatives of Grantee shall be permitted to enter and inspect the interior
of the Buildings to determine compliance with this Easement and maintenance of structural
soundness and safety; inspection of the interior will not, in the absence of evidence of
deterioration, take place more often than annually, and may involve reasonable testing of interior
structural condition. Inspection of the interior will be made at a time mutually agreed upon by
Grantor and Grantee, and Grantor covenants not to unreasonably withhold its consent in
determining a date and time for such inspection.
10. Grantee's Remedies. Grantee has the following legal remedies to correct any
violation of any covenant, stipulation or restriction herein, in addition to any remedies now or
hereafter provided by law:
(a) Grantee may, following thirty (30) days written notice to Grantor, institute
suit to enjoin such violation by ex parte, temporary, preliminary and permanent injunction,
including prohibitory and mandatory injunctive relief, and to require the restoration of the
Premises to the condition and appearance required by this Easement.
(b) Representatives of the Grantee may, following reasonable notice to
Grantor, enter upon the Premises, correct any such violation, and hold Grantor, its heirs, personal
administrators, executors, successors and assigns responsible for the cost thereof.
(1) Such cost until repaid shall constitute a lien on the Premises.
(II) Grantee shall exercise reasonable care in selecting independent
contractors if it chooses to retain such contractors to correct any such violations, including
making reasonable inquiry as to whether any such contractor is properly licensed and has
adequate liability insurance and workman's compensation coverage.
(c) Grantee shall also have available all other legal and equitable remedies to
enforce Grantor's obligations hereunder.
(d) In the event Grantor is found to have violated any of its obligations,
Grantor shall reimburse Grantee for any costs or expenses incurred in connection therewith,
including all reasonable court costs and attorneys', architectural, engineering and expert witness
fees.
(e) Exercise by Grantee of one remedy hereunder shall not have the affect of
waiving or limiting any other remedy, and the failure to exercise any remedy shall not have the
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effect of waiving or limiting the use of any other remedy or the use of such remedy at any other
time.
11. Notice from Government Authorities. Grantor shall deliver to Grantee copies of
any notice, demand, letter or bill received by Grantor from any government authority within five
(5) days of receipt by Grantor. Upon request by Grantee, Grantor shall promptly furnish Grantee
with evidence of Grantor's compliance with such notice, demand, letter to bill, where compliance
is required bylaw. . .
12. Notice of Proposed Sale. Grantor shall promptly notify Grantee in writing of any
proposed sale of the Premises and provide the opportunity for Grantee to explain the terms of the
Easement to potential new owners prior to sale closing.
13. Runs with the Land. The obligations imposed by this Easement shall be effective in
perpetuity and shall be deemed to run as a binding servitude with the Premises. This Easement
shall extend to and be binding upon Grantor and Grantee, their respective successors in interest
and all persons hereafter claiming under or through Grantor and Grantee, and the words
"Grantor" and "Grantee" when used herein shall include all such persons. Anything contained
herein to the contrary notwithstanding, a person shall have no obligation pursuant to this
instrument where such person shall cease to have any interest in the Premises by reason by a bona
fide transfer, solely except for violations in existence at the time of transfer, for which Grantor
and all successors to Grantor shall be jointly and severally responsible, except that Grantee may
seek enforcement against any person deemed responsible without necessity of joining all such
responsible persons.
14. Title Insurance Recording. Grantee shall do and perform all acts necessary to
prompt recording of this instrument in the real estate records of the county wherein the Premises
is located, and Grantor shall pay for the expense of recording. In addition, Grantor shall pay for
and firmish to Grantee a policy of title insurance, in an amount equal to the value attributable to
this Easement, to be determined by the Qualified Appraisal required by paragraph 25 of this
Easement, or is such Qualified Appraisal is not required by paragraph 25, then an appraisal in
form satisfactory to Grantee, from an insurer acceptable to Grantee, insuring enforceability,
validity and priority of this Easement, and reflecting no liens, charges or encumbrances on the
Premises other than those described in paragraph 15.
15. Existing Liens. Except for those matters shown in Exhibit "D" hereto, Grantor
warrants to Grantee that no lien or encumbrance exists on the Premises as of the date hereof.
Grantor shall immediately cause to be satisfied or released any lien or claim of lien that may
hereafter come to exist against the Premises which may have priority over any of the rights, title
or interest of Grantee in the Premises.
16. Subordination of Mortgages. Grantor warrants and represents to Grantee that all
mortgages, liens, charges and encumbrances (solely except for ad valorem and other county or
municipal taxes) and other rights in the Premises held by all persons or entities other than Grantee
V -�
(the "Lienholder(s)") are subject and subordinate at all times to the rights of the Grantee pursuant
to this Easement. Grantor has provided a copy of the Easement to all Lienholders, and the
agreement of each of the Lienholder to subordinate all of their interest in the Premises to the
Easement is attached as Exhibit "E". The following provisions apply to all Lienholders now
existing or hereafter claiming an interest in the Premises:
(a) If a Lienholder has the right to receive the proceeds of condemnation
proceedings arising from any exercise of the power of eminent domain as to all or any part of the
Premises or the right to receive insurance proceeds as a result of any casualty, hazard or accident
occurring to or about the Premises, the Lienholder shall have a prior claim to the insurance and
condemnation proceeds and shall be entitled to same in preference to Grantee until the debt owed
to such Lienholder is paid off and discharged, notwithstanding that the interest of the Lienholder
is subordinate to the Easement.
(b) If a Lienholder has received an assignment of the leases, rents and profits
of the Premises as security or additional security for a loan, then the Lienholder shall have a prior
claim to the leases, rents and profits of the Premises and shall be entitled to receive same in
preference to Grantee until the debt owed to such Lienholder is paid off, notwithstanding that the
interest of the Lienholder is subordinate to the Easement.
(c) Until a Lienholder or purchaser at foreclosure obtains ownership of the
Premises, the Lienholder or purchaser shall have no obligation, debt or liability under the
Easement.
(d) Before exercising any right or remedy due to breach of the Easement
except the right to enjoin a violation hereof, Grantee shall give all Lienholder of record written
notice describing the default, and the Mortgages shall have sixty (60) days thereafter to cure or
cause a cure of the default.
(e) Nothing contained in the above paragraphs or in the Easement shall be
construed to give any Mortgage the right to extinguish this Easement by taking title to the
Premises by foreclosure or otherwise.
17. Plaques . Grantee agrees that Grantor may provide and maintain a plaque on the
Facades or the Buildings, which plaque shall not exceed 18 by 24 inches in
size, giving notice of the significance of the Buildings or the Premises and the existence of this
Easement.
18. Indemnification: Immunity. The Grantor hereby agrees to pay, protect, indemnify,
hold harmless and defend at its own cost and expense, the Grantee, its agents, directors and
employees or independent contractors from and against any and all claims, liabilities, expenses,
costs, damages, losses and expenses (including reasonable attorneys' fees and disbursements
hereafter incurred) arising out of or in any way relating to the administration, performed in good
faith, of this Easement, including but not limited to the granting or denial of consents hereunder,
the reporting on or advising as to any condition on the Premises, and the execution of work on
the Premises. In the event that the Grantor is required to indemnify the Grantee pursuant to the
terms of the Easement, the amount of such indemnify, until discharged, shall constitute a lien on
the Premises. In addition, Grantor (and all other persons or entities claiming rights hereunder)
acknowledges and agrees that nothing contained in this Easement, or otherwise, shall defeat,
affect or act to waive the sovereign and governmental immunity enjoyed and inuring in favor of
Grantee.
19. Taxes. Grantor shall pay immediately, when first due and owing, all general taxes, special
taxes, special assessments, water charges, sewer service charges and other charges which may
become a lien on the Premises. Grantee is hereby authorized, but in no event required or
expected, to make or advance, upon three (3) days prior written notice to Grantor, in the place of
Grantor, any payment relating to taxes, assessments, water rates, sewer rentals and other
governmental or municipality charge, fine, imposition or lien asserted against the Premises and
may do so according to any bill, statement or estimate procured from the appropriate public office
without inquiry into the accuracy of such bill, statement or assessment or into the validity of such
tax, assessment, sale or forfeiture. Such payment, if made by Grantee, shall become lien on the
Premises of the same priority as the item if not paid would have had.
20. Insurance. The Grantor shall keep the premises insured by an insurance company
having a size of Class XIV or better and having a rating of "A+" or better by Best's Insurance
Reports for the full replacement value, if such policy is available, and, if not, for the full appraised
value, against loss from the perils commonly insured under standard fire and extended coverage
policies and comprehensive general liability insurance against claims for personal injury, death and
property damage of a type and in such amounts as would, in the opinion of Grantee, normally be
carried on a property such as the Premises protected by a preservation and conservation
easement. Such insurance shall include Grantee's interest and name Grantee as an additional
insured and shall provide for at least thirty (30) days notice to Grantee before cancellation and
that the act or omission of one insured will not invalidate the policy as to the other insured party.
Furthermore, the Grantor shall deliver to the Grantee certificates evidencing the aforesaid
insurance coverage at the commencement of this grant and copies of new or renewed policies at
least ten (10) days prior to the expiration of such policy. The Grantee shall have the right to
provide insurance at the Grantor's cost and expense, should the Grantor fail to obtain same. In the
event the Grantee obtains such insurance, the cost of such insurance shall be a lien on the
Premises until repaid by the Grantor.
21. Liens. Any lien on the Premises created pursuant to any paragraph of the Easement
may be enforced by all available means, methods and remedies provided by this Easement and by
law.
22. Written Notice. Any notice which either Grantor or Grantee.may desire or be
required to give to the other party shall be in writing and shall be mailed postage prepaid by first
class mail, or hand delivered; if to Grantor, then at 623 S. Rock Street, Little Rock, Arkansas,
72201, and if to Grantee, then to Arkansas Historic Preservation Program, 323 Center Street,
Suite 1600, Little Rock, Arkansas 72201, Attention: Conservation Easement Officer. Each party
may change its address set forth herein by a notice to such effect to the other party.
23. Evidence of Compliance. Upon request by Grantee, Grantor shall promptly furnish
Grantee with evidence of Grantor's compliance with any obligation of Grantor contained in this
Easement.
24. Stipulated Value of Grantee's Interest. Grantor acknowledges that upon execution
and recording of the Easement, Grantee shall be immediately vested with a real property interest
in the Premises and that such interest of Grantee shall have a stipulated fair market value, for
purposes of allocating net proceeds in an extinguishment pursuant to paragraph 26, equal to the
ratio between the fair market value of the Easement and the fair market value of the Premises
prior to considering the impact of the Easement (hereinafter the "Easement Percentage") as
determined in the Qualified Appraisal provided to the Grantee pursuant to paragraph 25. Upon
submission of the Qualified Appraisal, the Grantor and Grantee shall sign a affidavit verifying the
Easement Percentage and record it as an amendment to the Easement. In the event Grantor does
not claim a charitable gift deduction for purposes of calculating federal income taxes and submit a
Qualified Appraisal, the Easement Percentage shall be seventeen and six -tenths percent (17.6
25. Qualified Appraisal. In the event Grantor claims a federal income tax deduction for
donation of a "qualified real property interest" as that term is defined in Section 170(h) of the
Internal Revenue Code, Grantor shall provide Grantee with a copy of all appraisals (hereinafter,
the "Qualified Appraisal" as that term is defined in P.L. 98-369, 155(a), 98 Stat. 691 (1983), and
by reference of the Easement. Upon receipt of the Qualified Appraisal, this fully executed
Easement, and any endowment requested hereunder by Grantee (if any), Grantee shall sign any
appraisal summary form prepared by the Internal Revenue Service and submitted to the Grantee
by Grantor.
26. Extinswishment. Grantor and Grantee hereby recognize that an unexpected change
in the conditions surrounding the Premises may make impossible the continued ownership or use
of the Premises for the preservation and conservation purposes and necessitate extinguishment of
the Easement. Such a change in conditions includes but it not limited to partial or total destruction
of the Buildings or the Facades resulting from a casualty of such magnitude that Grantee approves
demolition as explained in paragraphs 5,6, and 7, or condemnation or loss of title of all or a
portion of the Premises, the Buildings or the Facades. Such an extinguishment must be either the
result of a final judicial proceeding or have an Approval. Grantor shall be solely responsible for
determining, reporting and paying any taxes, penalties or other sums, in addition to the legal,
taxes and other effects of any extinguishment of the Easement.
27. Interpretation and Enforcement. The following provisions shall govern the
effectiveness, interpretation and duration of the Easement.
(a) Any rule of strict construction designed to limit the breadth of restrictions
on alienation or use of property shall not apply in the construction or interpretation of this
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Easement, and this Easement shall be interpreted broadly to affect its preservation and
conservation purposes and the transfer of rights and the restrictions on use herein contained as
provided in the Act.
(b) This Easement shall extend to and be binding upon Grantor and all persons
hereafter claiming under or through Grantor, and the word "Grantor" when used herein shall
include all such persons, whether or not such persons have signed this Easement or then have an
interest in the Premises. Anything contained herein to the contrary notwithstanding, a person shall
have no obligation pursuant to this Easement where such person shall cease to have any interest
(present, partial, contingent, collateral or future) in the Premises by reason of a bona fide transfer
for full value, solely except for violations in existence at the time of transfer, for which Grantor
and all successors to Grantor shall be jointly and severally responsible without necessity of joining
all such responsible persons. Any right, title or interest herein granted to Grantee also shall be
deemed granted to each successor and assign of Grantee and each such following successor and
assign thereof, and the word "Grantee" shall include all such successors and assigns.
(c) This Easement is executed in counterparts, each page of which (including
exhibits) has been initialed by Grantor and Grantee for purposes of identification. In the event of
any disparity between the counterparts produced, the recorded counterpart shall constitute the
agreement of the parties.
(d) Except as expressly provided herein, nothing contained in this Easement
grants, nor shall be interpreted to grant, to the public any right to enter on the Premises or into the
Buildings.
(e) To the extent that Grantor owns or is entitled to development rights which
may exist now or at some time hereafter by reason of the fact that under any applicable zoning or
similar ordinance the Premises may be developed to use more intensive (in terms of height, bulk
or other objective criteria regulated by such ordinances) than the Premises are devoted as of the
date hereof, such development rights shall not be exercisable on, above or below the Premises
during the term of the Easement, nor shall they be transferred to any adjacent parcel and exercised
in a manner that would interfere with the preservation and conservation purposes of the
Easement.
(f) For purposes of furthering the preservation of the Premises and Buildings
and of furthering the other purposes of this Easement, and to meet changing conditions, Grantor
and Grantee are free to amend jointly the terms of this instrument in writing without notice to any
party; provided, however, that no such amendment shall limit the perpetual duration or interfere
with the preservation and conservation purposes of this Easement. Such amendment shall become
effective upon recording among the real estate records of the county where the Premises is
located.
(g) the invalidity of any statute providing authority for Grantee to enter into
this Easement or any part of this Easement shall not affect the validity and enforceability of the
12
c
remaining portions of this Easement according to its terms, it being the intent of the parties to
agree and to bind themselves, their successors and their assigns in perpetuity to each term of this
Easement whether this Easement be enforceable by reason of an statue, common law or private
agreement either in existence now or at any time subsequent hereto.
(h) Nothing contained in this Easement shall be interpreted to authorize or
permit Grantor to violate any ordinance or regulation relating to building materials, construction
methods or use. In the event of any conflict between any such ordinance or regulation and the
terms hereof, Grantor promptly shall notify Grantee of such conflict and shall cooperate with
Grantee and the applicable governmental entity to accommodate the purposes of both this
instrument and such ordinance or regulation.
(I) this Easement reflects the entire agreement of Grantor and Grantee. Any prior or
simultaneous correspondence, undertakings, agreements and representations are null and void
upon execution hereof, unless set out in this instrument.
IN WITNESS WHEREOF, on the date first shown above, Grantor has caused this
preservation and conservation easement to be executed, sealed and delivered; and Grantee has
caused this instrument to be accepted, sealed and executed in its corporate name by its Director
and attested by its Secretary.
GRANTOR:
F
GRANTEE:
ARKANSAS HISTOJ' PRESERVATION
0
Title:
13
STATE OF ARKANSAS )
)ss. ACKNOWLEDGMENT
COUNTY OF u( )
On this 1 day of ZDA , before me, a notary public, personally
appeared w o acknowledged himself/herself to be the Co (n1 )+EW-
of 'an 1-ffLnr1c k�rtt94UmL nl , and that he/she, as such (3y -an zv-
being authorized so to do, executed the foregoing instrument for the purposes therein
contained.
In witness whereof I hereunto set my hand and ocial seal.
0A 63 QJbP--'
Notary Public
SHANNON M. GARCIA
cafffi'tiMit &fgi��y�.rkansas
County of ¢ulaski
STATE OF ARKANSAS )
)ss. ACKNOWLEDGMENT
COUNTY OF )
Ont is A day of before me, a notary public, personally
appeared who acknowledged himself/herself to be the bjg1 ear'
of 4�4" Q an $a= , and that he/she, as such
s-C( being authorized so to do, executed the foregoing instrument for the purposes
therein contained.
In witness whereof I hereunto set my hand and official seal.
Notary Public
My commission expires:
fort.
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Doe# 2007071247
EXHIBIT `B"
VERIFICATION AFFIDAVIT
The four photographs in the preceding Exhibit "A" are of the Fletcher House, 623 S. Rock Street,
Little Rock, AR 72201 and were taken on March 9, 2007, by Jennifer Polk on behalf of Ron K.
Young, grantor, owner of the premises.
Jenmf .r Polk,' U otographer
Date
Doc#M07O71247
EXHIBIT "C"
MININIUM MAINTENANCE STANDARDS
The building at 623 S. Rock Street, Little Rock, AR, 72201 (historical name Fletcher House) will
be maintained in accordance with the U.S. Secretary of Interior's Standards for Rehabilitation,
elaborated in the attached pamphlet.
?1, /�' : l
Grantor
S',i3-C>
Date
Doc# 2007071247
EXHIBIT "D"
AFFIDAVIT OF EXISTING LIENS OR ENCUMBRANCES
The following hold mortgage encumbrances against the property at 623 S. Rock Street, Little
Rock, AR 72201 (historical name Fletcher House):
Principal mortgage holder:
Citimortgage, Inc.
P.O. Box 689196
Des Moines, IA 50368-9196
Original loan amount: $176,000.00
Recorded in real estate records of Pulaski County, Arkansas, on December 31, 2001 as
Instrument 2001102458
Secondary mortgage holder:
Capital One
1 Corporate Drive, Suite 360
Lake Zurich, IL 60047-8924
Original loan amount: $14,000.00
Recorded in real estate records of Pulaski County, Arkansas, on December 31, 2001 as
Instrument 2001102460
There are no other liens or encumbrances on the property.
Grantor
8 -i3 -
Date
Doc# 2007071247
EXHIBIT "E"
SUBORDINATION, NON -DISTURBANCE:
AND ATTORNMENT AGREEMENT
THIS AGREEMENT, made this day, by and between the State of Arkansas, acting
by and through the Arkansas Historic Preservation Program, with principal offices at 323
Center Street, Suite 1500, Little Rock, Arkansas 72201 ("Grantee") and Citimortgave, Inc.
_ with an address at PO Box 689196, Des Moines, IA 50368-9196 ("Lender").
WITNESSETH:
WHEREAS by Easement dated, �t /d, Zdd7 being recorded in the real
estate records of _ County, Arkansas on , f /�, 2007 [as Instrument No.;W%a710_7
] [at BookPage_] (hereinafter referred to as the "Easement"), Ron K. Young
and n/a , his wife (collectively, the "Grantor"), granted to Grantee a historic
preservation easement covering certain premises located in Pulaski County, Arkansas
(the "Property"), a more particular description of which Property appears in Exhibit 1 ", attached
hereto and by this reference made a part hereof, and
WHEREAS, the Property is encumbered by a mortgage recorded in the real estate records
of Pulaski County, Arkansas on December 31 , 2001 , [as Instrument No.2001102458]
[at Book n/a , Page -n a,], (the "Mortgage") in favor of Lender and securing indebtedness in
the approximate amount of one hundred and seventy-six thousand dollars ($ 176,000.00 ); and
WHEREAS, Grantee and Lender desire hereby to establish certain rights, safeguards,
obligations and priorities with respect to their respective interests by means of the following
Subordination, Non -Disturbance and Attornment Agreement;
NOW THEREFORE, for and in consideration of the premises and the mutual covenants
and promises herein contained, and other good and valuable considerations, the receipt and
sufficiency of which are hereby acknowledged, Grantee and Lender agree as follows:
1. The Mortgage, the rights of Lender thereunder, and all advances made or to be
made thereunder, to the full extent of the principal sum and interest thereon from time to time
secured thereby, and to any renewal, substitution, extension, modification and replacement
thereof, including any increase in the indebtedness secured thereby or any supplements thereto,
are and shall be subject and subordinate to the Easement and the rights of Grantee thereunder, and
to all of the terms, conditions and provisions thereof. In the event that Lender or any other person
acquires any title to the Property pursuant to the exercise of any remedy provided for in the
Mortgage or by reason of the acceptance of a deed in lieu of foreclosure (the Lender, any other
such person and their participants, successors and assigns being collectively referred to as the
"Purchaser"), Grantee covenants and agrees to attom to and recognize and be bound to Purchaser
as the new owner of
15
the Property, but the Easement shall continue in full force and effect as a granted to Grantee by
Purchaser, and, notwithstanding anything to the contrary herein or in the Mortgage, the
provisions of the Easement will continue to run with the land unaffected by the conveyance to
Purchaser.
2. Lender agrees that so long as the Easement is of record:
a. the rights of Grantee in and to the Property shall not be terminated or
disturbed by any steps or proceedings taken by Lender in the exercise of any of its right under the
Mortgage or the indebtedness secured thereby,
b. the easement shall not be terminated or affected by said exercise of any
remedy provided for in the Mortgage, and Lender hereby covenants that any sale by it of the
Property pursuant to the exercise of any rights and remedies under the Mortgage or otherwise,
shall be made subject to the Easement and the rights of Grantee thereunder.
3. In no event shall Lender or any other Purchaser be liable for any act or omission of
Grantor or any prior owner.
4. The agreements herein contained shall be binding upon and shall inure to the
benefit of the parties hereto, their respective participants, successors, and assigns, and, without
limiting such, the agreements of Lender shall specifically be binding upon any Purchaser of the
Property at foreclosure or other sale taken pursuant to the Mortgage.
5. This Agreement may not be modified other than by an agreement in writing signed
by the parties hereto or their respective successors.
6. This Agreement may be signed in counterparts.
7. If any term or provision of this Agreement shall to any extent be held invalid or
unenforceable, the remaining terms and provisions hereof shall not be affected thereby, but each
term and provision hereof shall be valid and enforceable to the fullest extent permitted by law.
This Agreement shall be governed by Arkansas law.
IN WITNESS WHEREOF, Grantee, Grantor and Lender have caused this instrument to
be executed on this day of ,
GRANTEE:
THE STATE OF ARKANSAS,
acting by and through
the Arkansas Historic Preservation Program
16 /
r
r"PpOAATp
4�' QO
.�EAti
By:
GRANTOR
LENDER:
STATE OF ARKANSAS )
)SS. ACKNOWLEDGMENT
COUNTY OF )
On this 11�k day of ,�Zb, before me, a notary public, personally
appearedw ko acknowledged himself to be the of
an �-Q nc,✓.� and that he, as such �IAURA( being
authorized so to do, executed the foregoing instrument for the purposes therein contained.
In witness whereof I hereunto set my hand and official seal.
U
Notary Public
Mycommissionexpires:
j (7i
(®SE
�pwp g amu•®♦
14 \
i e 1A o $
14P®
17
STATE OF ARKANSAS
)ss: ACKNOWLEDGMENT
COUNTY OF ci )
On this day personally appeared before the undersigned, a Notary Public within and for
t County and State aforesaid, duly qualified, commissioned and acting, the within named
and , to me personally well known,
who stated that Vfiey eac"ad so signed, executed and delivered said foregoing instrument for the
consideration and purposes therein mentioned and set forth, including the waiver and
relinquishment of all rights of dower, courtesy, appraisement, sale, redemption and homestead
under the laws of Arkansas, and especially under the Act of May 8, 1899, and acts amendatory
thereof.
IN TESTIMONY WHEREOF,
of ZDO .
"OFFICIAL SEAL"
SHANNON M. GARCIA
Notary Public, State of Arkansas
y C gli�glt9tY
�y l.ommission Exp. 01/26/2009
ae,
(SEAL) �cL0cx
STATE OF ARK ANS A )
)SS.
COUNTY OF Polk- )
I have hereunto set my hand and official seal this) day
Notary Public
ACKNOWLEDGMENT
On this 2rrA day of P Lpa a Sl 007, before me, a notary public, personally
appeared Shelley I+c> meJ who ack owiedged himself to be the Vice �reside..1 of
('a}i' MOrho ge tw�� an ArkRnsas ankmg corporation, and that he, as such
being authorized so to do, executed the foregoing instrument for the purposes therein
contained.
In witness whereof I hereunto set my hand
My commission expires:
1-4 -'3 .60�
(SEAL)
18
Doc# 2007071247
1
FX1IIfUI"'I"
Property Description
The West 89 3/4 feet of Lot b, Block 151, Original City of Little Rock, Pulaski County,
Arkansas, commonly known as 623 S Rock Street, Little Rock, AR 72201, historical name
Fletcher House.
The property is comprised of one structure, a two-story single family home with late Queen
Anne/early Colonial Revival architectural features.
Doc# 2007071247
EXHIBIT "E"
SUBORDINATION, NON -DISTURBANCE
AND ATTORNMENT AGREEMENT
THIS AGREEMENT, made this day, by and between the State of Arkansas, acting
by and through the Arkansas Historic Preservation Program, with principal offices at 323
Center Street, Suite 1500, Little Rock, Arkansas 72201 ("Grantee") and Capital One with an
address at I Corporate Drive Suite 360 Lake Zurich Illinois. 60047-8924 ("Lender").
WITNESSETH:
WHEREAS bv Easement dated46 ;W7 , being recorded in the real
estate records of_ County, Arkansas on 7d , 1997 [as Instrument No.?Ad7�
�1zi�I
] [at Book_, Page_] (hereinafter referred to as the "Easement"), Ron K Youna
_and n/a , his wife (collectively, the "Grantor"), granted to Grantee a historic
preservation easement covering certain premises located in Pulaski County, Arkansas (the
"Property"), a more particular description of which Property appears in Exhibit 1 ", attached
hereto and by this reference made a part hereof, and
WHEREAS, the Property is encumbered by a mortgage recorded in the real estate records
of Pulaski County, Arkansas on December 31 , 2001 , [as Instrument
No.2001102460 ] [at Book n/a , Page n/a ,], (the "Mortgage") in favor of Lender and securing
indebtedness in the approximate amount of fourteen thousand dollars ($ 14.000.00 ); and
WHEREAS, Grantee and Lender desire hereby to establish certain rights, safeguards,
obligations and priorities with respect to their respective interests by means of the following
Subordination, Non -Disturbance and Attornment Agreement;
NOW THEREFORE, for and in consideration of the premises and the mutual covenants
and promises herein contained, and other good and valuable considerations, the receipt and
sufficiency of which are hereby acknowledged, Grantee and Lender agree as follows:
1. The Mortgage, the rights of Lender thereunder, and all advances made or to be
made thereunder, to the full extent of the principal sum and interest thereon from time to time
secured thereby, and to any renewal, substitution, extension, modification and replacement
thereof, including any increase in the indebtedness secured thereby or any supplements thereto,
are and shall be subject and subordinate to the Easement and the rights of Grantee thereunder, and
to all of the terms, conditions and provisions thereof. In the event that Lender or any other person
acquires any title to the Property pursuant to the exercise of any remedy provided for in the
Mortgage or by reason of the acceptance of a deed in lieu of foreclosure (the Lender, any other
such person and their participants, successors and assigns being collectively referred to as the
"Purchaser"), Grantee covenants and agrees to attorn to and recognize and be bound to Purchaser
as the new owner of the Property, but the Easement shall continue in full force and effect as a
granted to Grantee by Purchaser, and, notwithstanding anything to the contrary herein or in the
Mortgage, the provisions of the Easement will continue to run with the land unaffected by the
1
I
conveyance to Purchaser.
2. Lender agrees that so long as the Easement is of record.
a. the rights of Grantee in and to the Property shall not be terminated or
disturbed by any steps or proceedings taken by Lender in the exercise of any of its right under the
Mortgage or the indebtedness secured thereby;
b. the easement shall not be terminated or affected by said exercise of any
remedy provided for in the Mortgage, and Lender hereby covenants that any sale by it of the
Property pursuant to the exercise of any rights and remedies under the Mortgage or otherwise,
shall be made subject to the Easement and the rights of Grantee thereunder.
3. In no event shall Lender or any other Purchaser be liable for any act or omission of
Grantor or any prior owner.
4. The agreements herein contained shall be binding upon and shall inure to the
benefit of the parties hereto, their respective participants, successors, and assigns, and, without
limiting such, the agreements of Lender shall specifically be binding upon any Purchaser of the
Property at foreclosure or other sale taken pursuant to the Mortgage.
5. This Agreement may not be modified other than by an agreement in writing signed
by the parties hereto or their respective successors.
This Agreement may be signed in counterparts.
7, If any term or provision of this Agreement shall to any extent be held invalid or
unenforceable, the remaining terms and provisions hereof shall not be affected thereby, but each
term and provision hereof shall be valid and enforceable to the fullest extent permitted by law.
8. This Agreement shall be governed by Arkansas law.
IN WITNESS WHEREOF, Grantee, Grantor and Lender have caused this instrument to
be executed on this day of
GRANTEE:
THE STATE OF ARKANSAS,
acting by and through
the Arkansas Historic Preservation Program
2
� �i
By:
GRANTOR
-13"a7
STATE OF ARKANSAS )
)SS. ACKNOWLEDGMENT
COUNTY OF )
On this I 4—` day of �Ml , before me, a notary public, personally
appeared CIN Muwho acknowledged himself to be the r of
n and that he, as such U x. jD-r , being
authorized so to do, executed theoregoing instrument for the purposes therein contained.
In witness whereof I hereunto set my hand and official seal.
6a4r-4 (1 -
Notary Public
My commission expires:
STATE OF ARKANSAS )
)ss: ACKNOWLEDGMENT
COUNTY OF c�.la�r(�-� )
On this day personally appeared before the undersigned, a Notary Public within and for
th County an c� State aforesaid, duly qualified, commissioned and acting, the within named
n — ` 1 and , to me personally well known,
who stated that they each had so signed, executed and delivered said foregoing instrument for the
consideration and purposes therein mentioned and set forth, including the waiver and
relinquishment of all rights of dower, courtesy, appraisement, sale, redemption and homestead
under the laws of Arkansas, and especially under the Act of May 8, 1899, and acts amendatory
thereof.
IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this -13�-day
of 2r
LNotary
FICIAL SEAL"SHANNON M. GARCIA Notary Public
ublic, State ofArkansas
ountty of Pulaski
A53tlo!-rL 4§2612009
(SEAL)
STATE OF ARKANSAS )
)SS.
COLTNTI
On thisday of
appeared
anA
being authorized so to do,
contained.
In witness whereof I
My co r�sion expires:
(SEAL)
ACKNOWLEDGMENT
beforenotary public, personally
to be the
of
tion, and that he, as such
instrument for the purposes therein
set my hand and official seal.
In
Notary Public
LENDER: 14
' //
I�/�
By Mary Przybyla
Title: Appointee
-T`1-Ltnoi's
STATE OF )
I )SS. ACKNOWLEDGMENT
1
COUNTY OF � aky- )
On this jday of fA 1007, before me, a notary public, personally
appeared Mary Przybyl a , who acknowledged Aself to be the Appointee of
,,a* Capital One N.A. , and that,4le,'as such Appointee being
authorized so to do, executed the foregoing instrument for the purposes therein contained.
In witness whereof I hereunto set my hand and official seal.
NotaryM lic
My commission expires:
3-30-,�Olb
(SEAL)
"OFFICIAL SEAL"
Tanya M. Dingman
Notary Public, State of Illinois
My Commission Exp. 03130(2010
15
Doe 2007071247
EXHIBIT " 1"
Property Description
The West 89 3/4 feet of Lot 6, Block 151, Original City of Little Rock, Pulaski County,
Arkansas, commonly known as 623 S. Rock Street, Little Rock, AR 72201, historical name
Fletcher House.
The property is comprised of one structure, a two-story single family home with late Queen
Anne/early Colonial Revival architectural features.
GULL CI:I iCrjni ucaa. �.y r_i�v :1LiY> FII
Filed &Vke rdetl ;n
Official cards of
GNLHS'I ONNTY
CIFCL' T Colt, CLEitX
Fees $ 88
2C_�861N 31
"'ed ; � acorded
Official Reveres
CHHUtYN 97ALEY
�?KU1T cauriTr
^OON Y CLE
STANDARD ABSTRACT & TITLE COMPANY,icse
3420 Old Cantrell Road, little Rock, AR 72202 P. O. Box 7411, Little Rock, AR 722
WARRANTY DEED
KNOW ALL MEN BY THESE PRESENTS:
That We, DAVID L. HALE and ANITA K. HALE, husband and wife, for and in consideration of ti
sum of One Hundred and no/100 Dollars, and other good and valuable consideration, in hand paid 1
RON K. YOUNG, Grantee, the receipt of which is hereby acknowledged, do hereby grant, bargain, s
and convey unto the said Grantee and unto his heirs and assigns forever, the following lands lying
the County of Pulaski and State of Arkansas, to -wit:
sl1ac11
The West 89 3/4,feet of Lot 6/, Origkmal5 City of Little Rack, Pulaski County, Arkansas.
To have and to hold the same unto the said Grantee, and unto his heirs and assigns forevt
with all the appurtenances thereto belonging.
And we hereby covenant with said Grantee we will forever warrant and defend the title to
said lands against all claims whatever.
And we, the Grantors, David L. Hale and Anita K. Hale, husband and wife, for and
consideration of the said sum of money, do hereby release and relinquish unto the said Grantee, all o
rights of dower, curtesy and homestead in and to the said lands.
WITNESS our hands and seals on this 250 day of Janu 000.
David L.
K.
I certify under penalty of false swearin
have been placed on this instrument.
Grantee or Agent: Ron K. Youn¢, by f
Grantee's Address: 623 Rock Street,
The form of this instrument was approved by Edward L. Wright, Attorney at Law, and informati
therein completed by Standard Abstract & Title Company, Inc.
ACKNOWLEDGMENT
STATE OF LOUISIANA
COUNTY OF "Y -
>tzb( �'e��2000, before me, the undersigned officer, personally aPPe;
On this �I — day of 3aS; rover to be
David L. Hale and Anita K. Hale, husband and wife, known to me (or satisfactorily proven)
persons whose names are subscribed to the within instrumentcontained, expressly waiving all ri
ged that they
executed the same for the consideration and pure
oses of homestead and relinquishing all rights of dower and curtesy as set forth therein.
IN TESTIMONY WHEREOF, I have set my hand and official seal
(SEAL)
My Commis5 i]l n Ewes:Not Public
AM) ��
PAK II
Coverage hlmary
MetLife Auto &Home
ECONOMY PREMIER ASSURANCE COMPANY
POLICY
Insured name and address
FREEPORT, ILLINOIS 61032
INFORMATION
RON YOUNG
Policy Number 6244656521
623 ROCK STREET
Effective Date 06-18-07 12:01 A.M. Std. Time
LITTLE ROCK AR- 72202-2538
Expiration Date 06-18-08 12:01 A.M. Std. Time
0
0 POLICY
0 COVERAGE
o LIMITS
m
m
to
N
0
N
m
a
N
(fl
a
m POLICY
CONDITIONS
AND PREMIUM
Agency name and address
ROBERT L OTT INSURANCE INC
DRAWER 39
CONWAY AR 72032
Agency phone # 501.327.6711
Personal liability limit: $ 300,000
We'll pay up to this amount for your legal
liability resulting from an occurrence in
which there is actual accidental property
damage, personal injury or death, subject
to the limitations and exclusions in PAK II.
Policy deductible: $ 300
We'll pay anything over this amount up to
the maximum coverage limits shown. This
deductible is replaced with any coverage -
specific deductibles listed in your policy.
Policy conditions
The following forms represent attachments
applicable to your entire policy. Forms
applicable to a specific coverage are listed
in subsequent pages of this summary.
99214 (05-89) ARKANSAS POLICY CONTRACT
99244 (08-05) AR AMENDMENT
PK0052 (10-00) COMPANY CHANGE ENDORSEMENT
Property coverage limit: $ 1,198,000
We'll pay up to this amount for actual
accidental physical damage or loss to your
property covered by this policy for any one
loss subject to the provisions, limitations
and exclusions specified in this policy.
Premium
Your total premium is shown below. You
will receive a bill shortly that gives
you the option of paying your premium
in up to nine payments.
Renewal Credit of 5% $ -208.00
Total annual premium $ 3,929.00
PROPERTY Unless otherwise stated in your policy, your property coverage and personal liability
COVERED coverage apply only to property listed below. The following pages include detailed
information on the property covered, additional coverage, credits and associated
premiums.
HOMES 623 ROCK STREET 209 E 10TH STREET #211
LITTLE ROCK AR 72202-2538 LITTLE ROCK AR 72202-5101
VEHICLES 2002 TOYOTA
TUNDRA/SR5
MetLife Auto & Home Is a brand of Metropolitan Property and Casualty Insurance Company and Its Affiliates, Warwick, RI.
Form Number 99271 (10-92) Insured Copy Page 1 of 6
l0..SI, 1;lfd,.oal,n;T;iT1T( C0i1> t I,IN . W
01U1 OKI
gtiw1llii�NIJil), ",ItrI
TT
E0,
This instrument was prepared by:
Middleberg, Riddle & Gianno
717 N. Harwood, Suite 2400
Dallas, TX 75201
Return to:
BANK OF LITTLE ROCK MTG CORP
ATTENTION: ANGELA SMITH
900 S SHACKLEFORD RD, ST 220
LITTLE ROCK AR 72211
2001102460
12/31/2001 98:18;22PX
Filed Recorded in
Official
Records of
CAROLYN
STALE
PULASKI COUNTY
CIRCUI] COUNTY
CIkCUIi/COUNTY CLERK iOft)U-- 1
Fees $17,00
Name and Title of Person Authorized to
Release the Lien:
GEORGE G. WORTHEN
PRESIDENT
apace Above Thb Line For aecmdina Daul
Loan No: 926956
Borrower: PON K. YOUNG MORTGAGE
MORTGAGE is made this 17th day of December, 2001, between the Mortgagor,
Data ID: 180
THIS
RON K. YOUNG , AN UNMARRIED PERSON (herein "Borrower"), and the Mortgagee,
ized
BANK OF LITTLE ROCK , whose CORPORATION, 90o S HCKLEFORD ROAD, SUIrTEa220 and existing ILE ROCK, aws
AR of the Sime of ARKANSAS, - (
72211 501-219-9100 herein "Lender").
WHEREAS, Borrower u indebted to Lender in the principal sum of U.S. S FOURTEEN THOUSAND and
NO(100- ---- Dollars (U.S. $ [4,000.00), which indebtednessn evidencedmonthly y Borrower'sstallments note
to dated pet an
d em er117, 2001
he
and extensions and renewals thereof (herein "Note")' providing
balance of indebtedness, if not sooner paid, due and payable on January 1, 2U[7i
TO SECURE to Lender the repayment of the indebtedness evidenced by the Note, with interest thereon; the
onadvanced in accordance herewith to protect the security of this Mortgage;
payment of all other sums, with interest there ,
and the pewnvelanec, of the y to Lender thee[ollowingnants ddescribed property located orrower hn the county of PULASKI does,
of Arkansa Be
THE WEST 89 3/4 FEET OF LOT 6, BLOCK 151, ORIGINAL CITY OF LITTLE ROCK, PULASKI
COUNTY, ARKANSAS.
LITTLE ROCK,
which has the address of 623 ROCK STREET, 1c I
Isvedl (herein "Properly Address");
Arkansas 72202
ILP eodel
TOGETHER with all the Improvements now or hereafter erected on the property, and all easeme Mort s, rights,
appurtenances and rents, 11 of
withal) be deemed
ey tobe
the leasehold ein a pPart Of te if he PrMortgagevisr oed n Irasehotd arc
and all of the foregoing, g
hereinafter referred to as the "Property."
er E lawfully seised of the estate hereby conveyed and has the right to mortgage,
Borrower covenants that Borrow
grant and wnvey the Property, and that the Property is unencumbered, except for encumbrances of record. Borrower
covenants that Borrower warrants and will defend generally the title to the Property against all claims and demands,
subject to encumbrances of record. ,
ARKANSA$ . SECOND MORTGAGE . 1zles - FNMP/FHLMC UNIFORM INSTRUMENT Fmm aW4 page I of 4 Pagan)
FEiUFIVTU:Sihl] RFUhFSTi1RCT&IITLEN(P,RI?Y,I& 451OfKE
1012 hUT'UNU, ftURU, SUITi.0.
I ITTIE FUCY„ bftY,hi(SR5 72211
This instrument was prepared by:
Middleberg, Riddle & Gianna
717 N. Harwood, Suite 2400
Dallas, TX 75201
Return to:
BANK OF LITTLE ROCK MTG CORP
ATTENTION: ANGELA SMITH
9Uo S SHACKLEFORD RD, ST 220
LITTLE ROCK, AR 72211
Loan No: 926949
Borrower: RON K. YOUNG
le/31111 N2n5B
tolyd & 01 Adl?d in AX )
Filen d keeaiden In
Official kernrds of
PURUIT COUNTY
Fro.,
ELEkK
lees Y38.06
Name and Title of Person Authorized to
Release the Lien:
GEORGE G. WORTHEN
PRESIDENT
ISeece Pbave This line For Returning natal
MORTGAGE
Data ID: 178
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in
Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document
are also provided in Section 16.
(A) "Security Instrument" means this document, which is dared December 17, 2001, together with all
Riders to this document.
(B) "Borrawer' is RON IC YOUNG, AN UNMARRIED PERSON. Borrower is the mortgagor under
this Security Instrument.
(C) "Lender' is BANK OF LITTLE ROCK MORTGAGE SUrCORPORATION- Lender A
addressLnd
is S SHAIOCKN organized and existing under LEFORD ROAD, SUITE 220 a laws ofLITTLEeROCK, ARof theS72211� 5UL219-91110.
Lender is the mortgagee under this Security Instrument.
(D) "Note" means the promissory Dole signed by Borrower and dated December 17, 2/The Nola
states that Borrower owes Lender ONE IIUNDRED SEVENTY-SiX 1'IIOUSAND end NOltoO-•-••Dallers
(U.S. $ 176,000.00) plus interest. Borrower has promised to
pay this debt in regular Periodic Payments
and to pay the debt in full not later than January 1,
(E) "Property" means the properly that is described below under the heading "Transfer or Rights in
the Property."
denced by the Note, plus Securest, any prepayment charges and late
(F) "Wan" means the debt evi
charges due under the Note, and all sums due under this Security Instrument, plus interest.
nt that are executed by Borrower The
(G) "Riders" means all Riders to this Security instrume
following Riders are to be executed by Borrower (check box as applicable]: Rider
❑ Adjustable Rate Rider
❑ Balloon Rider
❑ 1-4 Family Rider
❑
Other(s) [specify]
❑ Condominium Rider
❑ Planned 1
❑ Biweekly
❑ Second Home
MENT
ARKANSAS • Single Fatuity - Fannie Mae/Freddie Mao UNIFORM P rm830044 1/01
I .l.nl _lArIG"3
(Page r or I Pages)
Inwnnouinoiumnuumwimttiumi�u9w�mimoimnmoni9ni�titomiomiommraun7tlimmwu�o�nims-
ISSUED BY
TRANSNATIONTrfLE INSURANCE COMPANY OWNER'S POLICY OF TITLE INSURANCE
AP Transnation POLICY NUMBER
A LANDAM1IERICA COMPANY ,Q ..J 8 _ J --_5_1b
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND
THE CONDITIONS AND STIPULATIONS, TRANSNATION TITLE INSURANCE COMPANY, an Arizona corporation, herein called the
Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in
Schedule A, sustained or incurred by the insured by reason of:
I. Title to the estate or interest described in Schedule A being vested other than as stated therein;
2. Any defect in or lien or encumbrance on the title;
3. Unmarketability of the title;
4. Lack of a right of access to and from the land.
The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided
in the Conditions and Stipulations.
IN WITNESS WHEREOF, TRANSNATION TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto
affixed by its duly authorized officers, the Policy to become valid when countersigned by an authorized officer or agent of the Company.
Attest: /y0
vv� Secretary
TRANSNATION TITLE INSURANCE COMPANY
0�3\ vi INS
M `Nt00./ORA )Fp oBy:
SEPT. 16, 1491 �
* ARIZONA *�
President
FROM COVERAGE ra
The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys'
fees or expenses which arise by reason of:
I . (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting,
regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improve-
ment now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of
which the land is or was a parr; or (iv) environmental protection, or the affect of any violation of these laws, ordinances or governmental regula-
tions, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or
alleged violation affecting the land has been recorded in the public records at Date of Policy.
(b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of. a defect,
lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy.
2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding
from coverage any laking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without
knowledge.
3. Defects, liens, encumbrances, adverse claims or other matters:
(a) created, suffered, assumed or agreed to by the insured claimant;
(b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed
in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy;
(c) resulting in no loss or damage to the insured claimant;
(d) attaching or created subsequent to Date of Policy; or
(e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured
by this policy.
Any claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation
of federal bankruptcy, state insolvency, or similar creditors' rights laws, that is based on:
(a) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or
(b) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer
results from the failure:
(i) to timely record the instrument of transfer; or
(ii) of such recordation to impart notice to a purchaser for value or a judgment or lien creditor.
NM1 PA 10
ALTA Owner's Policy (10-17-92) Valid Only If Schedules A and B and Cover Are Attached
Face Page
OWNER'S POLICY
I
AGENT CASE NO.- E42610 POLICY No.- A38-215767 S/I F52-403270
DATE OF POLICY- FEBRUARY 24, 2000 AT 2:12 P.M.
AMOUNT OF INSURANCE- $210, 000. 00
1. Name of insured:
RON K. YOUNG
2. The estate or interest in the land described herein and which is
covered by this policy is:
FEE SIMPLE
3. The estate or interest referred to herein is at Date of Policy
of record in the insured.
4. The land herein described is encumbered by the following mortgage or
trust deed, and assignments:
DEED OF TRUST FROM RON K. YOUNG, AN U*MRIED PERS2SON, TO GEORGE G. WORMED, TRUSTEE FOR BANK OF LTITIE ROCK
NURIGAGE OOWORATION, IN THE MUUNP OF $18500.00 DATED JANUARY 25, 2000 AND FILED FOR REOORD ON FEBRUARY 7,
2000 AT 3:12 P.M. AS DOQI1ENP NO. 2000008229, REOORDS OF PULASKI 00ITN•Y,AARKANSAS. ASSIGD2, P TO NORTH AMERICAN
NY)RIGAGE OMANY DATED JANUARY 25, 2000 AND FILED FOR REODRD ON FEBRUARY 7, 2000 AT 3:12 P.M. AS poamENr No.
2000008230, REMW OF PUL4SKI MM, ARKANSAS.
and the mortgage or trust deeds, if any, shown in Schedule B hereof.
5. The land referred to in the policy is situated in the County
of PULASKI, State of Arkansas and described as follows:
The West 89 3/4 feet of Lot 6, Block 151, Original City of Little Rock,
Pulaski County, Arkansas.
STANDARD ABSTRACT & TITLE COMPANY ******************
3420 OLD CANTRELL ROAD TRANSNATION TITLE
LITTLE ROCK, AR 72202 INSURANCE COMPANY
******************
SCHEDULE B
AGENT'S CASE NO. E42610 POLICY NO.- A38-215767
This policy does not insure against loss or damage by reason of the following:
GENERAL EXCEPTIONS:
(1) Rights or claims of parties in possession not shown by the
public records.
(2) Easements, or claims of easements, not shown by the public
records.
(3) Encroachments, overlaps, boundary line disputes, or other
matters which would be disclosed by an accurate survey or
inspection of the premises.
(4) Any lien, or right to a lien, for services, labor, or material
heretofore or hereafter furnished, imposed by law and not
shown by the public records.
SPECIAL EXCEPTIONS: The mortgage, if any, referred to in Item 4
of Schedule A, and the following exceptions:
(a) All taxes for the year 2000 and subsequent years and all special
assessments for the year 2001 and subsequent years which are not yet due or
payable.
(b) Future years and future assessments of Little Rock Sanitary Sewer
System.
(c) variation in location of fence along the North of subject property as
shown on survey by Donald W. Brooks dated 1-24-2000.
(d) Encroachment by concrete drive and frame building on the East side of
subject property onto adjoining property, as shown on survey by Donald W.
Brooks dated 1-24-2000.
(e) Roads, ways, streams and easements, not shown of record.