HomeMy WebLinkAbout15754 1 RESOLUTION NO. 15,754
2
3 A RESOLUTION TO APPROVE THE SETTLEMENT OF FEDERAL
4 LITIGATION;AND FOR OTHER PURPOSES
5
6 WHEREAS, Federal litigation which alleged deprivation of constitutional rights and privileges to
7 procedural due process,substantive due process,and equal protection under 42 U.S.C. § 1983 and Arkansas
8 Code Annotated § 16-123-105, equitable estoppel, regulatory taking of private property without just
9 compensation under the Fifth Amendment to the United States Constitution, relief under the Arkansas
10 Private Property Protection Act,Arkansas Code Annotated § 18-15-1701 et seq., the Fair Housing Act, 42
11 U.S.C. § 3601 et seq., and seeking declaratory judgements and preliminary and permanent injunctions
12 against the City of Little Rock (the "City"), Mayor Frank Scott, Jr., as Mayor of the City of Little Rock,
13 City of Little Rock Planning & Development Department, Jaime Collins, P.E., as Director of the City of
14 Little Rock Planning & Development Department, Doris Wright, as City Director for the City of Little
15 Rock, and the City of Little Rock Construction Board of Adjustment and Appeals,was filed on November
16 15, 2021, and styled The Peaks at Little Rock, Limited Partnership et al. v. City of Little Rock et al, Case
17 No. 4:21-cv-1093-BRW in the United States District Court for the Eastern District of Arkansas, Central
18 Division(the"Peaks Litigation");
19 WHEREAS,the Peaks Litigation was instituted by The Peaks at Little Rock,Limited for construction
20 of improvements based on property described as follows:
21 Part of the SE 1/4 of the NW 1/4 of Section 15,T-1-N, R-13-W, Pulaski County, Little Rock,
22 Arkansas,being more particularly described as follows: Beginning at the NW corner of the
23 SE 1/4 of the NW 1/4; thence, N86°52'46" east 639.80 feet to the NW corner of Tract A,
24 Kensington Place, Phase I; thence S02°33'37" west along the west line of said Tract A a
25 distance of 600.49 feet to the NE corner of Lot 262, Kensington Place, Phase II; thence
26 S71°24'48"west along the north line of said Lot 262 a distance of 118.36 feet to a point on
27 the easterly right-of-way line of Dover Drive (sixty (60)-foot right-of-way); thence
28 S53°25'00"west 63.28 feet to a point on the westerly right-of-way line of said Dover Drive;
29 thence S78°39'05"west 284.57 feet;thence N89°51'02"west 175.69 feet to a point on the
30 west line of said SE'/4 of the NW 1/4;thence N00°28'00"east along said west line a distance
31 of 695.88 feet to the Point of Beginning containing 9.691 acres, more or less (the
32 "Property").
33 WHEREAS,the Property is being developed as a Multi-Family Apartment Complex with Low Income
34 Housing Tax Credits as shown on the plans and specifications previously presented to the City(the"Use");
[Page 1 of 431
l and,
2 WHEREAS, after careful consideration of various arguments and issues, it has been determined that
3 the settlement of litigation would be in the best interest of all parties.
4 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
5 OF LITTLE ROCK,ARKANSAS:
6 Section 1. The City Manager,and any other necessary City party,is authorized to enter into a settlement
7 agreement in the Peaks Litigation pursuant to the following terms and conditions:
8 (a) The City shall agree to pay the cumulative amount of One Hundred Fifty Thousand Dollars
9 ($150,000.00), pursuant to a Settlement and Release of Claims Agreement (the "Settlement
10 Agreement")which has been made available and explained to the Mayor and Members of the
11 Board of Directors;
12 (b) The City shall agree and hereby agrees by this resolution that Ordinance No. 21,012, An
13 Ordinance to Repeal Ordinance No. 18,497(June 5,2001),titled Arkansas Hospice Long-Form
14 POD (Z-4175-G) and to Revoke a Planning Zoning District; and for other purposes, adopted
15 by the City of Little Rock on March 17,2015,was validly passed as recorded,and the Property
16 has been zoned MF-18 since 2015 and continues to be zoned MF-18,allowing for all permitted
17 uses as of the date of Ordinance No. 21,012 pursuant to the Zoning Ordinance for the City of
18 Little Rock,Arkansas,without restrictions or conditions,including,but not limited to,any age-
19 related restrictions, and the City further agrees that the Use as a Multi-Family Residential
20 Apartment Development is specifically allowed on the Property without any restrictions other
21 than as stated in this resolution;
22 (c) The City shall agree and hereby agrees that Building Permit Nos. 2020016052, 2020016054,
23 2020016055,2020016056,2020016058,202121883,202121884,202121886,and 202121887,
24 as granted and issued by the City of Little Rock Planning & Development Department, were
25 properly granted and issued, and allow for the construction of improvements provided in the
26 applications for these permits and intended use of the Property.
27 (d) The City shall agree and hereby agrees that certificates of occupancy for the development of
28 the Property,as such has been identified as Phase I and Phase II, shall be promptly issued upon
29 application and to issue the certificates pursuant to the City of Little Rock Code,assuming the
30 improvements continue to be constructed in accordance with the City of Little Rock Code,and
31 the Arkansas Fire Prevention Code, Volume II. The City shall issue such Certificates of
32 Occupancy in good faith, and they shall not unduly withhold or delay their issuance, nor shall
33 they deny the issuance of any Certificate of Occupancy or any other land-use entitlement
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1 necessary for the operation of the project being constructed on the Property based upon any
2 issues relating to the Property's zoning;
3 (e) The City shall agree and hereby agrees that the Plat and the Bill of Assurance as attached hereto
4 as an Exhibit are hereby approved and shall cause, or authorizes the Planning& Development
5 Department to cause,the Plat and Bill of Assurance to be filed of record as required by the City
6 of Little Rock Code and the laws of the State of Arkansas;
7 (f) (i) The Settlement Agreement shall be executed only by parties who possess complete
8 and full authority to do so; and,
9 (ii) Consideration paid by the City is adequate and sufficient, and acceptance of the
10 monies are an express, irrevocable, acknowledgment of this fact;and,
11 (iii) The Settlement Agreement releases, acquits and forever discharges the City,
12 Mayor Scott, the Planning & Development Department, Jamie Collins, Director
13 Wright, and the Construction Board of Adjustment & Appeals, in addition to their
14 respective Directors, Officers, employees, agents, brokers, representatives,
15 subsidiaries, divisions, members, affiliates, shareholders, legal representatives,
16 predecessors, successors, insurers, attorneys, trustees, beneficiaries, assigns, privies,
17 all affiliated and related companies, management companies, consulting management
18 companies, governing bodies, municipal corporations, municipal subdivision, and all
19 other persons and corporate entities with which the City, Mayor Scott,the Planning&
20 Development Department,Jamie Collins,Director Wright,and the Construction Board
21 of Adjustment&Appeals, have been, are now, or may hereafter be affiliated, from all
22 causes, causes of action, debts, deeds, suits, proceedings, agreements contracts,
23 judgments, damages obligations, costs, fees (including, without limitation attorneys'
24 fees), responsibilities, and liabilities, whether known or unknown, arising out of or in
25 any way connected with the events and actions which are the subject of the Peaks
26 Litigation,have been the subject of the Peaks Litigation,or could have been the subject
27 of the Peaks Litigation; and,
28 (iv) The City, Mayor Scott, the Planning& Development Department, Jamie Collins,
29 Director Wright, and the Construction Board of Adjustment &Appeals, by virtue of
30 the Settlement Agreement, and the Plaintiffs by the acceptance of the Settlement
31 Agreement and the consideration set forth above, understands that nothing in the
32 Settlement Agreement is an admission of liability, and that the Settlement Agreement
33 is entered for the sole purpose of settlement and compromise; and,
34 (v) The terms of the Settlement Agreement are contractual in nature.
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1 (g) All Terms of the Settlement Agreement, in substantially the format attached as Exhibit A to this
2 resolution, shall be in full force and effect whether referenced in the body of this resolution or
3 nor.
4 Section 2. The funds for the City's portion of the Settlement shall be charged to Account No. 101002-
5 62010.
6 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
7 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
8 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
9 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
10 resolution.
11 Section 4. Repealer. All laws,ordinances,resolutions,or parts of the same,that are inconsistent with
12 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
13 ADOPTED: August 16,2022
14 ATTEST: APPROVED:
15
16 MIRO I �
'advt.
17 Allison Segars, e • i . ' City Clerk Frank Scott,Jr.,
18 APPROVED AS TO LEGAL FORM:
19
20 w 1-'04/1/V-fl Yi ! : l "
21 Thomas M. Carpenter,City Attor ey
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1 EXHIBIT A
2
3 SETTLEMENT AND RELEASE OF CLAIMS AGREEMENT
4
5 THIS SETTLEMENT AND RELEASE OF CLAIMS AGREEMENT (the "Agreement") is given by and
6 between The Peaks at Little Rock, Limited Partnership, The Peaks at Little Rock Phase II, Limited
7 Partnership, RichSmith Holdings, LLC, Ridge Construction, LLC, City of Little Rock, The Honorable
8 Frank Scott Jr., as Mayor of the City of Little Rock, City of Little Rock Planning & Development
9 Department, Jamie Collins, P.E., as Director of the City of Little Rock Planning & Development
10 Department,Doris Wright,as City Director for the City of Little Rock,and City of Little Rock Construction
11 Board of Adjustment and Appeals (all parties collectively referred to as the "Parties," and singularly as
12 "Party").
13 RECITALS
14 1. As used in this Agreement, the phrase "Peaks I" shall mean The Peaks at Little Rock, Limited
15 Partnership, its predecessors or successors in interest; its assigns, agents, and representatives; its past,
16 present, and future parent and subsidiary corporations, divisions, affiliates, partners, joint ventures,
17 stockholders,assigns,Officers,Directors,employees,fiduciaries,agents,and insurers;and any other person,
18 firm, or corporation with which it is now or may hereafter be affiliated.
19 2. As used in this Agreement, the phrase "Peaks II" shall mean The Peaks at Little Rock Phase II,
20 Limited Partnership, its predecessors or successors in interest; its assigns, agents, and representatives; its
21 past, present, and future parent and subsidiary corporations, divisions, affiliates, partners,joint ventures,
22 stockholders,assigns,Officers,Directors,employees,fiduciaries,agents,and insurers;and any other person,
23 firm, or corporation with which it is now or may hereafter be affiliated.
24 3. As used in this Agreement, the phrase "RichSmith Holdings" shall mean RichSmith Holdings,
25 LLC, its predecessors or successors in interest; its assigns,agents,and representatives; its past, present,and
26 future parent and subsidiary corporations, divisions, affiliates, partners, joint ventures, stockholders,
27 assigns, Officers, Directors, employees, fiduciaries, agents, and insurers; and any other person, firm, or
28 corporation with which it is now or may hereafter be affiliated.
29 4. As used in this Agreement,the phrase"Ridge Construction" shall mean Ridge Construction, LLC,
30 its predecessors or successors in interest;its assigns,agents,and representatives; its past,present, and future
31 parent and subsidiary corporations, divisions, affiliates, partners, joint ventures, stockholders, assigns,
32 Officers,Directors,employees, fiduciaries,agents, and insurers; and any other person, firm, or corporation
33 with which it is now or may hereafter be affiliated.
34 5. As used in this Agreement, the phrase "City of Little Rock" shall mean the City of Little Rock,
IPage 5 of 431
1 Arkansas,its predecessors or successors in interest; its assigns,agents,and representatives; its past,present,
2 and future parent and subsidiary corporations, divisions, affiliates, partners,joint ventures, stockholders,
3 assigns, Officers, Directors, employees, fiduciaries, agents, and insurers; and any other person, firm, or
4 corporation with which it is now or may hereafter be affiliated.
5 6. As used in this Agreement the phrase"Mayor Scott"shall mean The Honorable Frank Scott, Jr., in
6 his official capacity as the Mayor of the City of Little Rock, his predecessors or successors in interest;his
7 assigns, agents, and representatives; his past, present, and future parent and subsidiary corporations,
8 divisions, affiliates, partners, joint ventures, stockholders, assigns, Officers, Directors, employees,
9 fiduciaries, agents, and insurers; and any other person, firm, or corporation with which he is now or may
10 hereafter be affiliated.
11 7. As used in this Agreement, the phrase "Planning Department" shall mean the City of Little Rock
12 Planning & Development Department, its predecessors or successors in interest; its assigns, agents, and
13 representatives; its past, present, and future parent and subsidiary corporations, divisions, affiliates,
14 partners, joint ventures, stockholders, assigns, Officers, Directors, employees, fiduciaries, agents, and
15 insurers;and any other person, firm, or corporation with which it is now or may hereafter be affiliated.
16 8. As used in this Agreement,the phrase"Jamie Collins"shall mean Jamie Collins,P.E., in his official
17 capacity as the Director of the Planning Department,his predecessors or successors in interest; his assigns,
18 agents, and representatives; his past, present, and future parent and subsidiary corporations, divisions,
19 affiliates, partners,joint ventures,stockholders,assigns,Officers,Directors,employees,fiduciaries,agents,
20 and insurers;and any other person,firm,or corporation with which he is now or may hereafter be affiliated.
21 9. As used in this Agreement, the phrase "Director Wright" shall mean Doris Wright, in her official
22 capacity as a City Director for the City of Little Rock,her predecessors or successors in interest;her assigns,
23 agents, and representatives; her past, present, and future parent and subsidiary corporations, divisions,
24 affiliates,partners,joint ventures, stockholders, assigns,Officers,Directors,employees, fiduciaries,agents,
25 and insurers;and any other person,firm,or corporation with which she is now or may hereafter be affiliated.
26 10. As used in this Agreement, the phrase "Construction Board" shall mean the City of Little Rock
27 Construction Board of Adjustment and Appeals, its predecessors or successors in interest; its assigns,agents,
28 and representatives; its past, present, and future parent and subsidiary corporations, divisions, affiliates,
29 partners, joint ventures, stockholders, assigns, Officers, Directors, employees, fiduciaries, agents, and
30 insurers; and any other person, firm, or corporation with which it is now or may hereafter be affiliated.
31 11. As used in this Agreement, the phrase "Property" shall mean a parcel of real property, located in
32 Little Rock, Pulaski County,Arkansas,that is more particularly described as follows:
33 Part of the SE 1/4 of the NW 1/4 of Section 15, T-1-N, R-13-W, Pulaski County, Little Rock,
34 Arkansas, being more particularly described as follows: Beginning at the NW corner of the SE
(Page 6 of 431
1 1/4 of the NW 1/4;thence,N86°52'46"east 639.80 feet to the NW corner of Tract"A",Kensington
2 Place, Phase I; thence S02°33'37" west along the west line of said Tract "A" a distance of
3 600.49 feet to the NE corner of Lot 262, Kensington Place, Phase II; thence S71°24'48" west
4 along the north line of said Lot 262 a distance of 118.36 feet to a point on the easterly right-of-
5 way line of Dover Drive (sixty (60)-foot right-of-way); thence S53°25'00" west 63.28 feet to
6 a point on the westerly right-of-way line of said Dover Drive;thence S78°39'05"west 284.57
7 feet; thence N89°51'02" west 175.69 feet to a point on the west line of said SE 1/4 of the NW
8 1/4; thence N00°28'00" east along said west line a distance of 695.88 feet to the Point of
9 Beginning containing 9.691 acres, more or less.
10 12. As used in this Agreement, the phrase "RichSmith Zoning Letter" shall mean the letter sent by
11 RichSmith Holdings to the Planning Department on March 13,2015. The Letter stated:
12 Dear Mr. Bozynski:
13 As you know, RichSmith Holdings, LLC ("RichSmith") is the owner of property at the north end
14 of Dover Drive ("Property") and has requested the revocation of the existing zoning on the Property.
15 In an effort to move the revocation and MF-18 zoning forward, RichSmith is willing to agree to the
16 following:
17 (1) Should the proposed Magnum Opus Phase I development receive the requested funding
18 from ADFA and receive a Certificate of Occupancy from the City of Little Rock, RichSmith agrees to
19 restrict the remaining 6.61 acres of the Property to the development of housing serving residents 55 and
20 over, or;
21 (2) Should the Magnum Opus Phase I development not receive the requested funding from
22 ADFA and the proposed development is not constructed, RichSmith agrees to restrict the Property to
23 the development of housing serving residents 55 and over for a period of five(5)years.
24 If you have any questions regarding the above, please do not hesitate to contact me. I appreciate
25 your time.
26 Sincerely,
27 /s/Keith Richardson
28 Keith Richardson Member
29 13. As used in this Agreement,the phrase"Ordinance No.21,012"shall mean Ordinance No.21,012,An
30 Ordinance To Repeal Ordinance No. 18,497(June 5,2001)Titled Arkansas Hospice Long-Form POD (Z-
31 4175-G)And Revoke A Planned Zoning District; And For Other Purposes, adopted by the City of Little
32 Rock on March 17,2015.
33 14. As used in this Agreement,the phrase"Phase I Building Permits"shall mean Building Permit Nos.
34 202016052,202016054,202016056,and 202016058,issued by the Planning Department on September 30,
[Page 7 of 431
1 2020,and October 2,2020.
2 15. As used in this Agreement,the phrase"Phase II Building Permits"shall mean Building Permit Nos.
3 202121883,202121884,202121886,and 202121887,issued by the Planning
4 Department on February 22,2022.
5 16. RichSmith Holdings purchased the Property in September 2013. At the time of this purchase, the
6 Property was zoned"POD"pursuant to the City of Little Rock's Code and Zoning Ordinances. In or around
7 January 2015, RichSmith Holdings applied to the City of Little Rock Planning Commission to rezone the
8 Property from"POD"to"MF-18." Pursuant to the City's laws, the rezoning is complete upon the adoption
9 of a zoning ordinance by the City's Board of Directors. On March 13, 2015, and commensurate with this
10 application, RichSmith Holdings submitted the Letter to the Planning Department.
11 17. On March 17, 2015, the City's Board of Directors passed Ordinance No. 21,012. Ordinance No.
12 21,012 stated, "That the underlying MF-18, Multi-Family District, zoning classification is restored to the
13 [Property]." Pursuant to the City of Little Rock's Code and zoning ordinances, the City's MF-18 zone
14 allows for any of the following, permitted uses: a)Housing, elderly, at eighteen(18)units per acre in MF-
15 18 and twenty-four(24)units per acre in MF-14;b)Multifamily residential structures not to exceed eighteen
16 (18)units per gross acre in the MF-18 district and twenty-four(24)units per gross acre in the MF-24 district;
17 c)Two-family residences;d)Rooming, lodging and boarding facilities;and e)Orphanage.
18 18. In August 2020, Peaks I, RichSmith Holdings, and Ridge Construction applied with the Planning
19 Department for Building Permits on the Property. Peaks I, RichSmith Holdings, and Ridge Construction
20 submitted building plans for their anticipated construction of apartment buildings, a clubhouse, and a mail
21 kiosk on the Property with this application. The plans showed the anticipated construction of a multifamily
22 residential apartment complex on the Property that was consistent with the City's MF-18 zone. The
23 Planning Department issued the Phase I Building Permits after reviewing the application and building plans
24 submitted by Peaks I, RichSmith Holdings,and Ridge Construction.
25 19. Peaks I and Ridge Construction began construction work at the Property under the Phase I Building
26 Permits in September 2021. On November 9, 2021,the Planning Department contacted Keith Richardson,
27 of Ridge Construction, to determine whether Peaks I and Ridge Construction were constructing senior
28 housing on the Property. After confirmation from Ridge Construction that they were not, the Planning
29 Department suspended the Phase I Building Permits by letter, dated November 10, 2021, to Ridge
30 Construction.
31 20. On November 15, 2021, Peaks I, Peaks II, RichSmith Holdings, and Ridge Construction filed a
32 Verified Complaint in the United States District Court for the Eastern District of Arkansas,Central Division,
33 against the City of Little Rock,Mayor Scott,the Planning Department,and Jamie Collins in the case styled,
34 The Peaks at Little Rock, Limited Partnership et al. v. City of Little Rock et al., Case No. 4:21-cv-1093-
[Page 8 of 431
1 BRW. The Verified Complaint alleged causes of action against the City of Little Rock and the Planning
2 Department for deprivation of constitutional rights and privileges to procedural due process, substantive
3 due process, and equal protection under 42 U.S.C. § 1983 and Arkansas Code Annotated § 16-123-105,
4 equitable estoppel, regulatory taking of private property without just compensation under the Fifth
5 Amendment to the United States Constitution, relief under the Arkansas Private Property Protection Act,
6 Arkansas Code Annotated § 18-15-1701 et seq.,the Fair Housing Act,42 U.S.C. § 3601 et seq.,and sought
7 declaratory judgments and preliminary and permanent injunctions against the City of Little Rock, Mayor
8 Scott, the Planning Department, and Jamie Collins. On December 13, 2021, Peaks I, Peaks 11, RichSmith
9 Holdings, and Ridge Construction filed an Amended Verified Complaint against the City of Little Rock,
10 Mayor Scott,the Planning Department, Jamie Collins, Director Wright, and the Construction Board. The
11 Amended Verified Complaint alleged causes of action against the City of Little Rock and the Planning
12 Department for deprivation of constitutional rights and privileges to procedural due process, substantive
13 due process, and equal protection under 42 U.S.C. § 1983 and Arkansas Code Annotated § 16-123-105,
14 equitable estoppel, regulatory taking of private property without just compensation under the Fifth
15 Amendment to the United States Constitution, and relief under the Arkansas Private Property Protection
16 Act,Arkansas Code Annotated § 18-15-1701 et seq.,and sought declaratory judgments against the City of
17 Little Rock and the Planning Department.The Amended Verified Complaint alleged causes of action against
18 the City of Little Rock,the Planning Department,and Director Wright for violations of the Fair Housing Act,
19 42 U.S.C.§3601 et seq.,and sought preliminary and permanent injunctions against the City of Little Rock,
20 Mayor Scott, the Planning Department, Jamie Collins, and Director Wright, and an award of punitive
21 damages, against the City of Little Rock, the Planning Department, and Director Wright. The Amended
22 Verified Complaint also alleged a cause of action against the City of Little Rock,the Planning Department,
23 Director Wright, and the Construction Board for violations of the Arkansas Freedom of Information Act,
24 Arkansas Code Annotated § 25-19-101 et seq. In or around June 2022,the City Attorney notified Peaks I,
25 Peaks II, RichSmith Holdings, and Ridge Construction about a potential subdivision and lot split at the
26 Property that allegedly violated the City of Little Rock Code and subdivision ordinances. The City of Little
27 Rock, Mayor Scott,the Planning Department, Jamie Collins, Director Wright, and the Construction Board
28 raised arguments related to alleged violations of the City of Little Rock Code and Subdivision Ordinances
29 in filings made in the lawsuit filed by Peaks I, Peaks II,RichSmith Holdings,and Ridge Construction. All
30 the claims, issues, and allegations that were raised in this lawsuit by the Parties are hereby collectively
31 referred to as the"Action."
32 21. The Action involved disputed questions of fact and law. The Parties now wish to fully and finally
33 compromise and settle the controversies between them in the Action.
34
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1 AGREEMENT
2
3 NOW, THEREFORE, in consideration of the recitals, above, the following terms and covenants, and
4 other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
5 Parties agree as follows:
6 SECTION 1. PEAKS I RELEASE
7 1.1 Payment to Peaks I. The Parties agree that payment to Peaks I shall be made in the amount of
8 (One Hundred Forty-Nine Thousand,Nine Hundred Seventy Dollars($149,970.00). This amount is given
9 in full settlement of all claims and disputes Peaks I raised or could have raised in the Action.
10 1.2 Resolution. The City of Little Rock shall cause the Resolution, attached to this Agreement as
11 Exhibit A,to be adopted at a City of Little Rock Board of Directors meeting to occur no later than August
12 16, 2022.
13 1.3 Certificates of Occupancy. The City of Little Rock and the Planning Department shall issue
14 Certificates of Occupancy to Peaks I promptly upon application and pursuant to the City of Little Rock
15 Code, assuming the improvements at the Property continue to be constructed in accordance with the City
16 of Little Rock Code and the Arkansas Fire Prevention Code, Volume II. The City of Little Rock and the
17 Planning Department expressly agree that they will issue the Certificates of Occupancy in good faith, and
18 they shall not unduly delay or withhold their issuance. Further, the City of Little Rock and the Planning
19 Department expressly agree that they shall not deny the issuance of any Certificate of Occupancy or any
20 other land-use entitlement necessary for the operation of the project Peaks I is constructing on the Property
21 based on any issues related to the Property's zoning, subdivision, or lot split.
22 1.4 Release. For and in consideration of the recitals set forth above,the Payment to Peaks I described
23 in Paragraph 1.1, above, the Resolution described in Paragraph 1.2, above, and Exhibit A, attached, the
24 Certificates of Occupancy described in Paragraph 1.3, above, and other good and valuable consideration,
25 the receipt and sufficiency of which are hereby acknowledged, Peaks I agrees to release,acquit,and forever
26 discharge the City of Little Rock, Mayor Scott, the Planning Department, Jamie Collins, Director Wright,
27 and the Construction Board in addition to their respective directors, officers, employees, agents, brokers,
28 representatives, subsidiaries, divisions, members, affiliates, shareholders, legal representatives,
29 predecessors, successors, insurers, attorneys, trustees, beneficiaries, assigns, privies, all affiliated and
30 related companies,management companies,consulting and consulting management companies, governing
31 bodies, municipal corporations, municipal subdivisions, and all other persons and corporate entities with
32 which any of the City of Little Rock,Mayor Scott,the Planning Department,Jamie Collins,Director Wright,
33 and the Construction Board have been, are now, or may hereafter be affiliated, from any and all claims,
34 causes of action,debts,deeds, suits, proceedings,agreements, contracts,judgments, damages, obligations,
'Page 10 of 431
1 costs, fees (including, without limitation, attorneys' fees), responsibilities, and liabilities, whether known
2 or unknown, which Peaks I has ever had,presently has,or may have in the future against the City of Little
3 Rock, Mayor Scott,the Planning Department,Jamie Collins, Director Wright,and the Construction Board,
4 or their respective directors, officers, employees, agents, brokers, representatives, subsidiaries, divisions,
5 members, affiliates, shareholders, legal representatives, predecessors, successors, insurers, attorneys,
6 trustees, beneficiaries, assigns, privies, all affiliated and related companies, management companies,
7 consulting and consulting management companies, governing bodies, municipal corporations, municipal
8 subdivisions,and all other persons and corporate entities with which the City of Little Rock, Mayor Scott,
9 the Planning Department,Jamie Collins, Director Wright, and the Construction Board have been, are now,
10 or may hereafter be affiliated,directly or indirectly arising from or related to the facts and circumstances of
11 the Action, IT BEING INTENDED THAT PEAKS I RELEASE ALL CLAIMS OF ANY KIND IT MIGHT
12 HAVE AGAINST THE CITY OF LITTLE ROCK, MAYOR SCOTT, THE PLANNING DEPARTMENT,
13 JAMIE COLLINS, DIRECTOR WRIGHT, OR THE CONSTRUCTION BOARD WHETHER
14 ASSERTED OR COMMUNICATED TO ANY OF THEM OR NOT.
15 1.5 Dismissal of Action with Prejudice. Counsel for Peaks I shall cause the Joint Stipulation Of
16 Dismissal With Prejudice, attached to this Agreement as Exhibit B, to be filed with the Court within five
17 (5) business days after the receipt of the payment described in Paragraph 1.1 or the adoption of the
18 Resolution described in Paragraph 1.2 and attached as Exhibit A,whichever is later.
19 1.6 Facts Assumed. Peaks I agrees that, if the facts with respect to this Agreement or the facts alleged
20 in the Action are found to be different from the facts now believed by them to be true, Peaks I expressly
21 accepts and assumes the risk of such possible difference in the facts and hereby agrees that this Agreement
22 is and shall remain effective notwithstanding such difference in facts.
23 1.7 Non-Admission. Peaks I acknowledges and agrees that the acceptance of this settlement and the
24 execution of this Agreement are the result of compromise. Peaks I enters into this Agreement in good faith.
25 This Agreement shall never for any purpose be considered an admission of liability, fault, improper or
26 unlawful conduct, or responsibility whatsoever by Peaks I. No past or present wrongdoing on the part of
27 Peaks I shall be implied by the execution of this Agreement.
28 SECTION II. PEAKS II RELEASE
29 2.1 Payment to Peaks H. The Parties agree that payment to Peaks II shall be made in the amount of
30 Ten Dollars($10.00). This amount is given in full settlement of all claims and disputes Peaks II raised or
31 could have raised in the Action.
32 2.2 Resolution. The City of Little Rock shall cause the Resolution, attached to this Agreement as
33 Exhibit A, to be adopted at a City of Little Rock Board of Directors meeting to occur no later than August
34 16, 2022.
[Page 11 of 431
1 2.3 Certificates of Occupancy. The City of Little Rock and the Planning Department shall issue
2 certificates of occupancy to Peaks II promptly upon application and pursuant to the City of Little Rock Code,
3 assuming the improvements at the Property continue to be constructed in accordance with the City of Little
4 Rock Code and the Arkansas Fire Prevention Code, Volume II. The City of Little Rock and the Planning
5 Department expressly agree that they will issue the certificates of occupancy in good faith, and they shall
6 not unduly delay or withhold their issuance. Further,the City of Little Rock and the Planning Department
7 expressly agree that they shall not deny the issuance of any Certificate of Occupancy or any other land-use
8 entitlement necessary for the operation of the project Peaks II is constructing on the Property based on any
9 issues related to the Property's zoning, subdivision, or lot split.
10 2.4 Release. For and in consideration of the recitals set forth above,the Payment to Peaks II described
11 in Paragraph 2.1, above, the Resolution described in Paragraph 2.2, above, and Exhibit A, attached, the
12 Certificates of Occupancy described in Paragraph 2.3, above, and other good and valuable consideration,
13 the receipt and sufficiency of which are hereby acknowledged,Peaks II agrees to release,acquit,and forever
14 discharge the City of Little Rock, Mayor Scott, the Planning Department, Jamie Collins, Director Wright,
15 and the Construction Board in addition to their respective directors, officers, employees, agents, brokers,
16 representatives, subsidiaries, divisions, members, affiliates, shareholders, legal representatives,
17 predecessors, successors, insurers, attorneys, trustees, beneficiaries, assigns, privies, all affiliated and
18 related companies, management companies,consulting and consulting management companies,governing
19 bodies, municipal corporations, municipal subdivisions, and all other persons and corporate entities with
20 which any of the City of Little Rock,Mayor Scott,the Planning Department,Jamie Collins,Director Wright,
21 and the Construction Board have been, are now, or may hereafter be affiliated, from any and all claims,
22 causes of action,debts,deeds, suits, proceedings, agreements, contracts,judgments, damages, obligations,
23 costs, fees(including,without limitation,attorneys'fees),responsibilities,and liabilities,whether known or
24 unknown, which Peaks II has ever had, presently has,or may have in the future against the City of Little
25 Rock,Mayor Scott,the Planning Department,Jamie Collins, Director Wright,and the Construction Board,
26 or their respective directors, officers, employees, agents, brokers, representatives, subsidiaries, divisions,
27 members, affiliates, shareholders, legal representatives, predecessors, successors, insurers, attorneys,
28 trustees, beneficiaries, assigns, privies, all affiliated and related companies, management companies,
29 consulting and consulting management companies, governing bodies, municipal corporations, municipal
30 subdivisions,and all other persons and corporate entities with which any the City of Little Rock, Mayor
31 Scott,the Planning Department,Jamie Collins,Director Wright,and the Construction Board have been,are
32 now, or may hereafter be affiliated, directly or indirectly arising from or related to the facts and
33 circumstances of the Action,IT BEING INTENDED THAT PEAKS II RELEASE ALL CLAIMS OF ANY
34 KIND IT MIGHT HAVE AGAINST THE CITY OF LITTLE ROCK,MAYOR SCOTT,THE PLANNING
[Page 12 of 431
1 DEPARTMENT, JAMIE COLLINS, DIRECTOR WRIGHT, OR THE CONSTRUCTION BOARD
2 WHETHER ASSERTED OR COMMUNICATED TO ANY OF THEM OR NOT.
3 2.5 Dismissal of Action with Prejudice. Counsel for Peaks II shall cause the Joint Stipulation of
4 Dismissal with Prejudice,attached to this Agreement as Exhibit B,to be filed with the Court within five(5)
5 business days after the receipt of the payment described in Paragraph 2.1 or the adoption of the Resolution
6 described in Paragraph 2.2 and Exhibit A, whichever is later.
7 2.6 Facts Assumed. Peaks II agrees that,if the facts with respect to this Agreement or the facts alleged
8 in the Action are found to be different from the facts now believed by them to be true, Peaks II expressly
9 accepts and assumes the risk of such possible difference in the facts and hereby agrees that this Agreement
10 is and shall remain effective notwithstanding such difference in facts.
11 2.7 Non-Admission. Peaks II acknowledges and agrees that the acceptance of this settlement and the
12 execution of this Agreement are the result of compromise. Peaks II enters into this Agreement in good faith.
13 This Agreement shall never for any purpose be considered an admission of liability, fault, improper or
14 unlawful conduct, or responsibility whatsoever by Peaks I. No past or present wrongdoing on the part of
15 Peaks I shall be implied by the execution of this Agreement.
16 SECTION 3. RICHSMITH HOLDINGS RELEASE
17 3.1 Payment to RichSmith Holdings. The Parties agree that payment to RichSmith Holdings shall be
18 made in the amount of Ten Dollars ($10.00). This amount is given in full settlement of all claims and
19 disputes Peaks II raised or could have raised in the Action.
20 3.2 Resolution. The City of Little Rock shall cause the Resolution, attached to this Agreement as
21 Exhibit A,to be adopted at a City of Little Rock Board of Directors meeting to occur no later than August
22 16,2022.
23 3.3 Certificates of Occupancy. The City of Little Rock and the Planning Department shall issue
24 certificates of occupancy to RichSmith Holdings promptly upon application and pursuant to the City of Little
25 Rock Code, assuming the improvements at the Property continue to be constructed in accordance with the
26 City of Little Rock Code and the Arkansas Fire Prevention Code,Volume II. The City of Little Rock and the
27 Planning Department expressly agree that they will issue the certificates of occupancy in good faith, and
28 they shall not unduly delay or withhold their issuance. Further, the City of Little Rock and the Planning
29 Department expressly agree that they shall not deny the issuance of any Certificate of Occupancy or any
30 other land-use entitlement necessary for the operation of the project RichSmith Holdings is constructing on
31 the Property based on any issues related to the Property's zoning, subdivision, or lot split.
32 3.4 Release. For and in consideration of the recitals set forth above, the Payment to RichSmith
33 Holdings described in Paragraph 3.1,above,the Resolution described in Paragraph 3.2,above, and Exhibit
34 A, attached,the Certificates of Occupancy described in Paragraph 3.3, above,and other good and valuable
[Page 13 of 431
1 consideration, the receipt and sufficiency of which are hereby acknowledged, RichSmith Holdings agrees
2 to release, acquit, and forever discharge the City of Little Rock, Mayor Scott, the Planning Department,
3 Jamie Collins,Director Wright,and the Construction Board in addition to their respective directors,officers,
4 employees,agents,brokers,representatives, subsidiaries,divisions,members,affiliates,shareholders, legal
5 representatives, predecessors, successors, insurers, attorneys, trustees, beneficiaries, assigns, privies, all
6 affiliated and related companies, management companies, consulting and consulting management
7 companies, governing bodies, municipal corporations, municipal subdivisions, and all other persons and
8 corporate entities with which any of the City of Little Rock, Mayor Scott,the Planning Department,Jamie
9 Collins, Director Wright, and the Construction Board have been, are now, or may hereafter be affiliated,
10 from any and all claims, causes of action, debts, deeds, suits, proceedings, agreements, contracts,
11 judgments, damages, obligations, costs, fees (including, without limitation, attorneys' fees),
12 responsibilities, and liabilities, whether known or unknown, which RichSmith Holdings has ever had,
13 presently has, or may have in the future against the City of Little Rock, Mayor Scott, the Planning
14 Department, Jamie Collins, Director Wright, and the Construction Board, or their respective directors,
15 officers, employees, agents, brokers, representatives, subsidiaries, divisions, members, affiliates,
16 shareholders, legal representatives, predecessors, successors, insurers, attorneys, trustees, beneficiaries,
17 assigns, privies, all affiliated and related companies, management companies, consulting and consulting
18 management companies, governing bodies, municipal corporations, municipal subdivisions, and all other
19 persons and corporate entities with which any the City of Little Rock, Mayor Scott, the Planning
20 Department, Jamie Collins, Director Wright, and the Construction Board have been, are now, or may
21 hereafter be affiliated, directly or indirectly arising from or related to the facts and circumstances of the
22 Action, IT BEING INTENDED THAT RICHSMITH HOLDINGS RELEASE ALL CLAIMS OF ANY
23 KIND IT MIGHT HAVE AGAINST THE CITY OF LITTLE ROCK, MAYOR SCOTT,THE PLANNING
24 DEPARTMENT, JAMIE COLLINS, DIRECTOR WRIGHT, OR THE CONSTRUCTION BOARD
25 WHETHER ASSERTED OR COMMUNICATED TO ANY OF THEM OR NOT.
26 3.5 Dismissal of Action with Prejudice. Counsel for RichSmith Holdings shall cause the Joint
27 Stipulation of Dismissal with Prejudice, attached to this Agreement as Exhibit B,to be filed with the Court
28 within five(5)business days after the receipt of the payment described in Paragraph 3.1 or the adoption of
29 the Resolution described in Paragraph 3.2 and Exhibit A, whichever is later.
30 3.6 Facts Assumed. RichSmith Holdings agrees that, if the facts with respect to this Agreement or the
31 facts alleged in the Action are found to be different from the facts now believed by them to be true,
32 RichSmith Holdings expressly accepts and assumes the risk of such possible difference in the facts and
33 hereby agrees that this Agreement is and shall remain effective notwithstanding such difference in facts.
34 3.7 Non-Admission. RichSmith Holdings acknowledges and agrees that the acceptance of this
[Page 14 of 43l
1 settlement and the execution of this Agreement are the result of compromise. RichSmith Holdings enters
2 into this Agreement in good faith. This Agreement shall never for any purpose be considered an admission
3 of liability, fault, improper or unlawful conduct, or responsibility whatsoever by RichSmith Holdings. No
4 past or present wrongdoing on the part of RichSmith Holdings shall be implied by the execution of this
5 Agreement.
6 SECTION 4. RIDGE CONSTRUCTION RELEASE
7 4.1 Payment to Ridge Construction. The Parties agree that payment to Ridge Construction shall be
8 made in the amount often Dollars($10.00). This amount is given in full settlement of all claims and disputes
9 Ridge Construction raised or could have raised in the Action.
10 4.2 Resolution. The City of Little Rock shall cause the Resolution, attached to this Agreement as
11 Exhibit A,to be adopted at a City of Little Rock Board of Directors meeting to occur no later than August
12 16, 2022.
13 43 Phase I Building Permits & Phase II Building Permits. The Planning Department shall cause
14 any stop work orders,enforcement actions,or efforts to halt construction at the Property commensurate with
15 the Phase I Building Permits and Phase II Building Permits to be terminated and suspended indefinitely.
16 The City and the Planning Department expressly agree they shall not unduly delay, hinder, inhibit, or
17 obstruct Ridge Construction's construction of improvements on the Property,assuming the improvements at
18 the Property continue to be constructed in accordance with the City of Little Rock Code and the Arkansas
19 Fire Prevention Code,Volume II. The City and the Planning Department expressly agree that they shall not
20 deny any other land-use entitlement necessary for the construction of the improvements Ridge Construction
21 is constructing on the Property based on any issues related to the Property's zoning,subdivision,or lot split.
22 4.4 Release. For and in consideration of the recitals set forth above,the Payment to Ridge Construction
23 described in Paragraph 4.1, above, the Resolution described in Paragraph 4.2, above, and Exhibit A,
24 attached, the Phase I Building Permits and Phase II Building Permits described in Paragraph 4.3, above,
25 and other good and valuable consideration,the receipt and sufficiency of which are hereby acknowledged,
26 Ridge Construction agrees to release, acquit, and forever discharge the City of Little Rock, Mayor Scott,
27 the Planning Department, Jamie Collins, Director Wright, and the Construction Board in addition to their
28 respective directors,officers,employees,agents,brokers,representatives,subsidiaries,divisions,members,
29 affiliates, shareholders, legal representatives, predecessors, successors, insurers, attorneys, trustees,
30 beneficiaries,assigns,privies,all affiliated and related companies,management companies,consulting and
31 consulting management companies,governing bodies,municipal corporations,municipal subdivisions,and
32 all other persons and corporate entities with which any of the City of Little Rock,Mayor Scott,the Planning
33 Department, Jamie Collins, Director Wright, and the Construction Board have been, are now, or may
34 hereafter be affiliated, from any and all claims, causes of action, debts, deeds, suits, proceedings,
(Page 15 of 431
1 agreements, contracts, judgments, damages, obligations, costs, fees (including, without limitation,
2 attorneys'fees),responsibilities,and liabilities,whether known or unknown,which Ridge Construction has
3 ever had,presently has, or may have in the future against the City of Little Rock,Mayor Scott,the Planning
4 Department, Jamie Collins, Director Wright, and the Construction Board, or their respective directors,
5 officers, employees, agents, brokers, representatives, subsidiaries, divisions, members, affiliates,
6 shareholders, legal representatives, predecessors, successors, insurers, attorneys, trustees, beneficiaries,
7 assigns, privies, all affiliated and related companies, management companies, consulting and consulting
8 management companies, governing bodies, municipal corporations, municipal subdivisions,and all other
9 persons and corporate entities with which any the City of Little Rock,Mayor Scott,the Planning Department,
10 Jamie Collins, Director Wright, and the Construction Board have been, are now, or may hereafter be
11 affiliated, directly or indirectly arising from or related to the facts and circumstances of the Action, IT
12 BEING INTENDED THAT RIDGE CONSTRUCTION RELEASE ALL CLAIMS OF ANY KIND IT
13 MIGHT HAVE AGAINST THE CITY OF LITTLE ROCK, MAYOR SCOTT, THE PLANNING
14 DEPARTMENT, JAMIE COLLINS, DIRECTOR WRIGHT, OR THE CONSTRUCTION BOARD
15 WHETHER ASSERTED OR COMMUNICATED TO ANY OF THEM OR NOT.
16 4.5 Dismissal of Action with Prejudice. Counsel for Ridge Construction shall cause the Joint
17 Stipulation of Dismissal with Prejudice,attached to this Agreement as Exhibit B,to be filed with the Court
18 within five(5)business days after the receipt of the payment described in Paragraph 4.1 or the adoption of
19 the Resolution described in Paragraph 4.2 and Exhibit A,whichever is later.
20 4.6 Facts Assumed. Ridge Construction agrees that, if the facts with respect to this Agreement or the
21 facts alleged in the Action are found to be different from the facts now believed by them to be true, Ridge
22 Construction expressly accepts and assumes the risk of such possible difference in the facts and hereby
23 agrees that this Agreement is and shall remain effective notwithstanding such difference in facts.
24 4.7 Non-Admission. Ridge Construction acknowledges and agrees that the acceptance of this
25 settlement and the execution of this Agreement are the result of compromise. Ridge Construction enters
26 into this Agreement in good faith. This Agreement shall never for any purpose be considered an admission
27 of liability, fault, improper or unlawful conduct, or responsibility whatsoever by Ridge Construction. No
28 past or present wrongdoing on the part of Ridge Construction shall be implied by the execution of this
29 Agreement.
30 SECTION 5. CITY DEFENDANTS'RELEASE
31 5.1 Release and Termination of Lake Access Easement. RichSmith Holdings and Peaks I shall cause
32 the Release and Termination of Easement,attached to this Agreement as Exhibit C,to be filed of record with
33 the Clerk of Pulaski County, Arkansas, within five (5) business days after the receipt of the payment
34 described in Paragraph 3.1 or the adoption of the Resolution described in Paragraph 3.2 and attached as
[Page 16 of 431
1 Exhibit A,whichever is later.
2 5.2 Tenant Notices. Peaks I and Peaks II, or their designated representatives or management
3 companies,shall cause notices to be placed in packages for new tenants who have leased units at The Peaks
4 at Little Rock,notifying them that Kensington Park is private property and tenants are not permitted to use
5 Kensington Park or its amenities during their tenancies.
6 5.3 Surveillance System. Peaks I, or its designated representatives and construction contractors,
7 including, but not limited to, Ridge Construction, shall cause a surveillance system to be installed on Phase
8 I of the Property commensurate with the drawing,attached to this Agreement as Exhibit D. Peaks II,or its
9 designated representatives and construction contractors, including, but not limited to, Ridge Construction,
10 shall cause a surveillance camera system to be installed on Phase II of the Property similar to the surveillance
11 system installed by Peaks I on Phase I of the Property. Peaks I and Peaks II, or their designated
12 representatives or management companies, expressly agree to respond promptly to any subpoenas for
13 surveillance camera footage received from the City of Little Rock Police Department,the Pulaski County
14 Sheriff's Office, the Pulaski County Prosecuting Attorney, or any other court of competent jurisdiction,
15 including, but not limited to, the Circuit Court of Pulaski County,Arkansas, or the United States District
16 Court for the Eastern District of Arkansas.
17 5.4 If RichSmith Management, LLC or Kensington Place Property Owners Association believe the
18 other has not adequately addressed or resolved complaints,concerns,or issues that have been brought to its
19 attention, then either party, at its option, and no earlier than thirty (30) days after the date of the meeting
20 where the complaint, concern, or issue was first identified, may elect to escalate the matter under
21 consideration for a final resolution to Danielle Litaker-Nall, General Counsel for Peaks I, Peaks II, and
22 RichSmith Management, LLC. The Parties expressly agree that in no event shall any failure by Peaks I,
23 Peaks II,RichSmith Management,LLC or the Kensington Place Property Owners Association to adequately
24 address any complaints,concerns,or issues arising from or out of the operation of a multifamily apartment
25 complex at the Property provide any basis,cause, or justification for the City of Little Rock or the Planning
26 Department to cancel, disrupt, impede, obstruct, suspend, or revoke the Phase I Building Permits, the
27 Phase II Building Permits, any Certificates of Occupancy issued for the Property to Peaks I, Peaks II,
28 RichSmith Holdings, or Ridge Construction, to otherwise revive or reinstate the allegations, claims, or
29 causes of action that were raised, or that could have been raised, in the Action, including, but not limited
30 to, any allegations related to or regarding a potential subdivision or lot split at the Property that allegedly
31 violated the City of Little Rock Code and subdivision ordinances, or to initiate or prosecute nuisance
32 actions,actions for violations of the City of Little Rock Code,or any other code enforcement actions related
33 to or regarding the complaints received from either RichSmith Management, LLC, or Kensington Place
34 Property Owners Association.
(Page 17 of 431
1 The Parties also expressly agree that nothing within this Paragraph 5.4,or within this Agreement,generally,
2 shall be construed to articulate,bestow,confer, or contemplate third-party beneficiary rights to RichSmith
3 Management, LLC, or any of its agents, employees, or representatives, or Kensington Place Property
4 Owners Association,or any of its agents,employees,members,or representatives,including,but not limited
5 to, Larry Bledsoe or any other resident who resides in the Kensington Place neighborhood now or in the
6 future.
7 5.5 Roundabout Landscaping&Maintenance. Peaks I, Peaks II,and RichSmith Holdings,LLC(for
8 as long as RichSmith Holdings, LLC, owns the Phase II Property), or their designated representatives or
9 construction contractors and management companies shall cause the interior of the roundabout, located on
10 the Site Plan, attached to this Agreement as Exhibit E, to be landscaped and to cause such landscaping to
11 be maintained at their sole cost and expense.
12 5.6 Release. For and in consideration of the recitals set forth above, the Releases described in
13 Paragraphs 1.4, 2.4, 3.4, and 4.4, above, the Dismissal Of Action With Prejudice described in Paragraphs
14 1.5, 2.5, 3.5, and 4.5, above, and Exhibit B, attached, the Release And Termination Of Lake Access
15 Easement described in Paragraph 5.1, above, and Exhibit C, attached, the Tenant Notices described in
16 Paragraph 5.2, above, the Surveillance Camera System described in Paragraph 5.3, above, and Exhibit D,
17 attached,the Kensington Place Neighborhood Meeting described in Paragraph 5.4,above,the Roundabout
18 Landscaping&Maintenance described in Paragraph 5.5,above,and other good and valuable consideration,
19 the receipt and sufficiency of which are hereby acknowledged, the City of Little Rock, Mayor Scott, the
20 Planning Department,Jamie Collins, Director Wright,and the Construction Board agree to release, acquit,
21 and forever discharge Peaks I, Peaks II, RichSmith Holdings, and Ridge Construction in addition to their
22 respective directors, officers, employees, agents, partners, representatives, subsidiaries, divisions,
23 members, affiliates, shareholders, legal representatives, predecessors, successors, insurers, attorneys,
24 trustees, beneficiaries, assigns, privies, all affiliated and related companies, management companies,
25 consulting and consulting management companies, governing bodies, and all other persons and corporate
26 entities with which any of Peaks I, Peaks II, RichSmith Holdings, and Ridge Construction have been, are
27 now, or may hereafter be affiliated, from any and all claims, causes of action, debts, deeds, suits,
28 proceedings, agreements, contracts, judgments, damages, obligations, costs, fees (including, without
29 limitation, attorneys' fees), responsibilities, and liabilities, whether known or unknown, which the City of
30 Little Rock, Mayor Scott, the Planning Department, Jamie Collins, Director Wright, and the Construction
31 Board have ever had,presently have,or may have in the future against Peaks I,Peaks II,RichSmith Holdings,
32 and Ridge Construction,or their respective directors,officers, employees, agents, partners, representatives,
33 subsidiaries, divisions, members, affiliates, shareholders, legal representatives, predecessors, successors,
34 insurers,attorneys,trustees,beneficiaries,assigns,privies,all affiliated and related companies,management
1Page 18 of 431
1 companies,consulting and consulting management companies,governing bodies,and all other persons and
2 corporate entities with which Peaks I, Peaks II, RichSmith Holdings, and Ridge Construction have been,
3 are now, or may hereafter be affiliated, directly or indirectly arising from or related to the facts and
4 circumstances of the Action, IT BEING INTENDED THAT THE CITY OF LITTLE ROCK, MAYOR
5 SCOTT, THE PLANNING DEPARTMENT, JAMIE COLLINS, DIRECTOR WRIGHT, AND THE
6 CONSTRUCTION BOARD RELEASE ALL CLAIMS OF ANY KIND THEY MIGHT HAVE AGAINST
7 PEAKS I, PEAKS II, RICHSMITH HOLDINGS, OR RIDGE CONSTRUCTION WHETHER
8 ASSERTED OR COMMUNICATED TO ANY OF THEM OR NOT.
9 5.7 Facts Assumed. The City of Little Rock, Mayor Scott, the Planning Department, Jamie Collins,
10 Director Wright, and the Construction Board agree that, if the facts with respect to this Agreement or the
11 facts alleged in the Action are found to be different from the facts now believed by them to be true,the City
12 of Little Rock,Mayor Scott,the Planning Department,Jamie Collins,Director Wright,and the Construction
13 Board accept and assume the risk of such possible difference in the facts and hereby agree that this
14 Agreement is and shall remain effective notwithstanding such difference in facts.
15 5.8 Non-Admission. The City of Little Rock, Mayor Scott, the Planning Department, Jamie Collins,
16 Director Wright, and the Construction Board acknowledge and agree that the acceptance of this settlement
17 and the execution of this Agreement are the result of compromise. The City of Little Rock, Mayor Scott,
18 the Planning Department, Jamie Collins, Director Wright, and the Construction Board enter into this
19 Agreement in good faith. This Agreement shall never for any purpose be considered an admission of
20 liability,fault,improper or unlawful conduct,or responsibility whatsoever by the City of Little Rock,Mayor
21 Scott, the Planning Department, Jamie Collins, Director Wright, or the Construction Board. No past or
22 present wrongdoing on the part of the City of Little Rock, Mayor Scott, the Planning Department, Jamie
23 Collins, Director Wright, or the Construction Board shall be implied by the execution of this Agreement.
24 SECTION 6. ADMISSIBILITY AS EVIDENCE.
25 The negotiations, consideration, and terms of this Agreement shall not be used as evidence for any
26 purpose,other than for the sole purpose of asserting or disputing a claimed breach of this Agreement.
27 SECTION 7. WARRANTIES
28 7.1 Peaks I makes the following warranties:
29 a. Peaks I has the power to execute,deliver,and perform the terms of this Agreement and has
30 taken all necessary action to authorize the execution, delivery, and performance of this
31 Agreement;
32 b. This Agreement has been duly executed and delivered, and this Agreement constitutes a
33 respective legal, valid, and binding instrument enforceable in accordance with its terms
34 and conditions;
[Page 19 of 431
1 c. Neither the execution ofthis Agreement nor performance ofthis Agreement shall contravene
2 any provision of State or Federal Law;
3 d. Peaks I is unaware of any action,proceeding,or investigation that may threaten or question
4 the validity of this Agreement or that has a material adverse effect on her ability to perform
5 in accordance with this Agreement;
6 e. All authorizations required to be obtained by Peaks I in connection with the execution,
7 delivery,and performance of this Agreement have been obtained and are in full force and
8 effect; and
9 f. No promise or inducement has been offered except as herein set forth.
10 7.2 Peaks II makes the following warranties:
11 a. Peaks II has the power to execute, deliver, and perform the terms of this Agreement and
12 has taken all necessary action to authorize the execution,delivery,and performance of this
13 Agreement;
14 b. This Agreement has been duly executed and delivered, and this Agreement constitutes a
15 respective legal, valid, and binding instrument enforceable in accordance with its terms
16 and conditions;
17 c. Neither the execution ofthis Agreement nor performance of this Agreement shall contravene
18 any provision of State or Federal Law;
19 d. Peaks II is unaware of any action, proceeding, or investigation that may threaten or
20 question the validity of this Agreement or that has a material adverse effect on their ability
21 to perform in accordance with this Agreement;
22 e. All authorizations required to be obtained by Peaks II in connection with the execution,
23 delivery, and performance of this Agreement have been obtained and are in full force and
24 effect; and
25 f. No promise or inducement has been offered except as herein set forth.
26 7.3 RichSmith Holdings makes the following warranties:
27 a. RichSmith Holdings has the power to execute, deliver, and perform the terms of this
28 Agreement and has taken all necessary action to authorize the execution, delivery, and
29 performance of this Agreement;
30 b. This Agreement has been duly executed and delivered, and this Agreement constitutes a
31 respective legal, valid, and binding instrument enforceable in accordance with its terms
32 and conditions;
33 c. Neither the execution ofthis Agreement nor performance ofthis Agreement shall contravene
34 any provision of State or Federal Law;
[Page 20 of 431
1
2 d. RichSmith Holdings is unaware of any action, proceeding, or investigation that may
3 threaten or question the validity of this Agreement or that has a material adverse effect on
4 their ability to perform in accordance with this Agreement;
5 e. All authorizations required to be obtained by RichSmith Holdings in connection with the
6 execution,delivery,and performance of this Agreement have been obtained and are in full
7 force and effect; and
8 f. No promise or inducement has been offered except as herein set forth.
9 7.4 Ridge Construction makes the following warranties:
10 a. Ridge Construction has the power to execute, deliver, and perform the terms of this
11 Agreement and has taken all necessary action to authorize the execution, delivery, and
12 performance of this Agreement;
13 b. This Agreement has been duly executed and delivered, and this Agreement constitutes a
14 respective legal, valid, and binding instrument enforceable in accordance with its terms
15 and conditions;
16 c. Neither the execution ofthis Agreement nor performance of this Agreement shall contravene
17 any provision of State or Federal Law;
18 d. Ridge Construction is unaware of any action,proceeding,or investigation that may threaten
19 or question the validity of this Agreement or that has a material adverse effect on their
20 ability to perform in accordance with this Agreement;
21 e. All authorizations required to be obtained by Ridge Construction in connection with the
22 execution,delivery,and performance of this Agreement have been obtained and are in full
23 force and effect; and
24 f. No promise or inducement has been offered except as herein set forth.
25 7.5 The City of Little Rock makes the following warranties:
26 a. The City of Little Rock has the power to execute, deliver, and perform the terms of this
27 Agreement and has taken all necessary action to authorize the execution, delivery, and
28 performance of this Agreement;
29 b. This Agreement has been duly executed and delivered, and this Agreement constitutes a
30 respective legal, valid, and binding instrument enforceable in accordance with its terms
31 and conditions;
32 c. Neither the execution ofthis Agreement nor performance of this Agreement shall contravene
33 any provision of State or Federal Law;
(Page 21 of 431
1 d. The City of Little Rock is unaware of any action, proceeding, or investigation that may
2 threaten or question the validity of this Agreement or that has a material adverse effect on
3 their ability to perform in accordance with this Agreement;
4 e. All authorizations required to be obtained by the City of Little Rock in connection with the
5 execution,delivery,and performance of this Agreement have been obtained and are in full
6 force and effect; and
7 f. No promise or inducement has been offered except as herein set forth.
8 7.6 Mayor Scott makes the following warranties:
9 a. Mayor Scott has the power to execute,deliver,and perform the terms of this Agreement and
10 has taken all necessary action to authorize the execution,delivery,and performance of this
11 Agreement;
12 b. This Agreement has been duly executed and delivered, and this Agreement constitutes a
I3 respective legal, valid, and binding instrument enforceable in accordance with its terms
14 and conditions;
15 c. Neither the execution ofthis Agreement nor performance ofthis Agreement shall contravene
16 any provision of State or Federal Law;
17 d. Mayor Scott is unaware of any action, proceeding, or investigation that may threaten or
18 question the validity of this Agreement or that has a material adverse effect on their ability
19 to perform in accordance with this Agreement;
20 e. All authorizations required to be obtained by Mayor Scott in connection with the execution,
21 delivery,and performance of this Agreement have been obtained and are in full force and
22 effect; and
23 f. No promise or inducement has been offered except as herein set forth.
24 7.7 The Planning Department makes the following warranties:
25 a. The Planning Department has the power to execute, deliver, and perform the terms of this
26 Agreement and has taken all necessary action to authorize the execution, delivery, and
27 performance of this Agreement;
28 b. This Agreement has been duly executed and delivered, and this Agreement constitutes a
29 respective legal, valid, and binding instrument enforceable in accordance with its terms
30 and conditions;
31 c. Neither the execution ofthis Agreement nor performance ofthis Agreement shall contravene
32 any provision of State or Federal law;
33 d. The Planning Department is unaware of any action, proceeding, or investigation that may
34 threaten or question the validity of this Agreement or that has a material adverse effect on
35 their ability to perform in accordance with this Agreement;
IPage 22 of 431
1 e. All authorizations required to be obtained by the Planning Department in connection with
2 the execution , delivery, and performance of this Agreement have been obtained and are in
3 full force and effect; and
4 f. No promise or inducement has been offered except as herein set forth.
5 7.8 Jamie Collins makes the following warranties:
6 a. Jamie Collins has the power to execute, deliver, and perform the terms of this Agreement
7 and has taken all necessary action to authorize the execution, delivery,and performance of
8 this Agreement;
9 b. This Agreement has been duly executed and delivered, and this Agreement constitutes a
10 respective legal, valid, and binding instrument enforceable in accordance with its terms
11 and conditions;
12 c. Neither the execution ofthis Agreement nor performance ofthis Agreement shall contravene
13 any provision of State or Federal Law;
14 d. Jamie Collins is unaware of any action, proceeding, or investigation that may threaten or
15 question the validity of this Agreement or that has a material adverse effect on their ability to
16 perform in accordance with this Agreement;
17 e. All authorizations required to be obtained by Jamie Collins in connection with the
18 execution,delivery,and performance of this Agreement have been obtained and are in full
19 force and effect; and
20 f. No promise or inducement has been offered except as herein set forth.
21 7.9 Director Wright makes the following warranties:
22 a. Director Wright has the power to execute,deliver,and perform the terms of this Agreement
23 and has taken all necessary action to authorize the execution,delivery, and performance of
24 this Agreement;
25 b. This Agreement has been duly executed and delivered, and this Agreement constitutes a
26 respective legal, valid, and binding instrument enforceable in accordance with its terms
27 and conditions;
28 c. Neither the execution of this Agreement nor performance of this Agreement shall contravene
29 any provision of State or Federal Law;
30 d. Director Wright is unaware of any action,proceeding,or investigation that may threaten or
31 question the validity of this Agreement or that has a material adverse effect on their ability to
32 perform in accordance with this Agreement;
33 e. All authorizations required to be obtained by Director Wright in connection with the
34 execution,delivery,and performance of this Agreement have been obtained and are in full
35 force and effect;and
[Page 23 of 431
1 f. No promise or inducement has been offered except as herein set forth.
2 7.10 The Construction Board makes the following warranties:
3 a. The Construction Board has the power to execute, deliver, and perform the terms of this
4 Agreement and has taken all necessary action to authorize the execution, delivery, and
5 performance of this Agreement;
6 b. This Agreement has been duly executed and delivered, and this Agreement constitutes a
7 respective legal, valid, and binding instrument enforceable in accordance with its terms
8 and conditions;
9 c. Neither the execution ofthis Agreement nor performance of this Agreement shall contravene
10 any provision of State or Federal Law;
11 d. The Construction Board is unaware of any action, proceeding, or investigation that may
12 threaten or question the validity of this Agreement or that has a material adverse effect on
13 their ability to perform in accordance with this Agreement;
14 e. All authorizations required to be obtained by the Construction Board in connection with
15 the execution,delivery,and performance of this Agreement have been obtained and are in
16 full force and effect; and
17 f. No promise or inducement has been offered except as herein set forth.
18 SECTION 8. JURISDICTION
19 The Parties agree that the United States District Court for the Eastern District of Arkansas shall retain
20 jurisdiction over this Agreement, less and except Paragraph 5.4, above, to resolve any disputes that may
21 arise over the terms and conditions of the Agreement, less and except Paragraph 5.4, above. The Parties
22 agree that a provision to this effect will be included in the stipulation of dismissal described in Paragraphs
23 1.5, 2.5,3.5,and 4.5, above, and Exhibit B, attached.
24 SECTION 9. INTEGRATION CLAUSE
25 The terms of this Agreement are not effective until every Party to this Agreement has signed this
26 Agreement. This Agreement represents the entire understanding and agreement between the Parties. All
27 prior agreements and understandings between the Parties regarding this Agreement,whether oral or written,
28 are merged into this Agreement.
29 SECTION 10. COUNTERPARTS CLAUSE
30 This Agreement may be executed at different times and in any number of originals or counterparts and
31 by each party on a separate counterpart,each of which shall be deemed an original but all of which together
32 shall constitute only one agreement, notwithstanding that all Parties shall not have signed the same
33 counterpart.
34 SECTION 11. FEES AND EXPENSES CLAUSE
35 11.1 The Parties shall each pay their own expenses, including legal fees, incurred in the Action,
[Page 24 of 431
1 and incurred by each of them in the negotiations, preparation, and execution of this Agreement.
2 11.2 The Parties agree that if any Party to this Agreement commences,joins in,or in any manner
3 seeks relief through any action arising out of, based upon, or relating to any of the claims related to the
4 Action, or released by this Agreement, then the party shall pay, in addition to any other damages, all legal
5 fees and expenses incurred in defending or otherwise responding to said action. The Parties agree that this
6 Agreement falls within the scope of Arkansas Code Annotated § 16-22-308.
7 SECTION 12. CONSTRUCTION CLAUSE
8 The Parties expressly state that they have reviewed this Agreement and have had the opportunity to
9 have this Agreement reviewed by competent counsel and that they are entering into this Agreement
10 voluntarily.Accordingly,the rule of construction that any ambiguities are to be resolved against the drafting
II party shall not be employed in the interpretation of this Agreement.
12 SECTION 13. SEVERABILITY CLAUSE
13 In the event that one or more of the provisions in this Agreement is determined to be illegal or
14 unenforceable, the remainder of this Agreement shall not be affected. Each remaining provision shall
15 continue to be valid and effective and shall be enforceable to the fullest extent permitted by law.
16 SECTION 14. SECTION&PARAGRAPH HEADINGS CLAUSE
17 In interpreting this Agreement, section and paragraph headings shall be disregarded.
18 SECTION 15. EFFECTIVE AGREEMENT CLAUSE
19 This Agreement may be pleaded as a full and complete defense to, and may be used as the basis for
20 enjoining,any action,suit,or other proceeding which may be instituted,prosecuted,or attempted in breach
21 of this Agreement,except for an action based on a breach of this Agreement.
22 SECTION 16. GOVERNING LAW CLAUSE
23 This Agreement is entered in the State of Arkansas. It shall be construed and interpreted in accordance
24 with Arkansas State Law.
25 SECTION 17. AMENDMENT CLAUSE
26 This Agreement may not be modified except by a writing approved and executed all Parties.
27 SECTION 18. ACKNOWLEDGEMENT CLAUSE
28 The Parties acknowledge and agree that they were supplied with a copy of this Agreement,that they or
29 their authorized representative have carefully read and understand this Agreement,and that they voluntarily
30 accept the terms and conditions of this Agreement.
31 SECTION 19. NOTICE
32 Any notice required to be sent under this Agreement shall be sent to the following by United
33 States Mail and electronic mail, if available:
34
35
(Page 25 of 431
1 The Peaks at Little Rock,Limited Partnership
2 do Thomas H. Wyatt
3 Quattlebaum,Grooms&Tull,PLLC
4 111 Center Street, Suite 1900
5 Little Rock, Arkansas 72201
6 E-Mail: twyatt@qgtlaw.com
7
8 The Peaks at Little Rock Phase H,Limited Partnership
9 c/o Thomas H. Wyatt
10 Quattlebaum,Grooms&Tull,PLLC
11 111 Center Street, Suite 1900
12 Little Rock, Arkansas 72201
13 E-Mail: twyatt@ggtlaw.com
14
15 RichSmith Holdings,LLC
16 do Thomas H. Wyatt
17 Quattlebaum,Grooms&Tull,PLLC
18 111 Center Street, Suite 1900
19 Little Rock,Arkansas 72201
20 E-Mail: twyatt@ggtlaw.com
21
22 Ridge Construction,LLC
23 do Thomas H. Wyatt
24 Quattlebaum,Grooms&Tull,PLLC
25 111 Center Street, Suite 1900
26 Little Rock,Arkansas 72201
27 E-Mail: twyatt@ggtlaw.com
28
29 City of Little Rock
30 c/o Thomas M.Carpenter,City Attorney
31 500 West Markham Street
32 Little Rock,Arkansas 72201
33 E-Mail: tcarpenter@littlerock.gov
34
35 The Honorable Frank Scott,Jr.
36 do Thomas M.Carpenter,City Attorney
37 500 West Markham Street
38 Little Rock,Arkansas 72201
39 E-Mail: tcarpenter@littlerock.gov
40
41 City of Little Rock Planning&Development Department
42 do Thomas M.Carpenter,City Attorney
43 500 West Markham Street
44 Little Rock,Arkansas 72201
45 E-Mail: tcarpenter@littlerock.gov
46
47 Jamie Collins,P.E.
48 c/o Thomas M.Carpenter,City Attorney
49 500 West Markham Street
50 Little Rock,Arkansas 72201
51 E-Mail: tcarpenter@littlerock.gov
52
IPage 26 of 431
1 City Director Doris Wright
2 c/o Thomas M.Carpenter,City Attorney
3 500 West Markham Street
4 Little Rock,Arkansas 72201
5 E-Mail: tcarpenter@littlerock.gov
6
7 City of Little Rock Construction Board of Adjustments&Appeals
8 c/o Thomas M.Carpenter,City Attorney
9 500 West Markham Street
10 Little Rock,Arkansas 72201
11 E-Mail: tcarpenter@littlerock.gov
12 THE PEAKS AT LITTLE ROCK,
13 LIMITED PARTNERSHIP
14
15 Signature of Representative
16
17 Printed Name and Title of Representative
18
19 Date
20
21 ACKNOWLEDGEMENT
22
23 STATE OF ARKANSAS )
24 )ss.
25 COUNTY OF PULASKI )
26 On this day of August, 2022, before me, the undersigned officer,
27 personally appeared , who acknowledged himself/herself to be the
28 of THE PEAKS AT LITTLE ROCK, LIMITED PARTNERSHIP, and that he/she as
29 such and being authorized to do so, executed the foregoing instrument for the purposes therein
30 contained.
31 In witness thereof I have hereunto set my hand and official seal.
32
33 Notary Public
34 My Commission Expires:
35
36
37
38
[Page 27 of 431
1 THE PEAKS AT LITTLE ROCK,
2 LIMITED PARTNERSHIP
3
4 Signature of Representative
5
6 Printed Name and Title of Representative
7
8 Date
9
10 ACKNOWLEDGEMENT
11
12 STATE OF ARKANSAS )
13 )ss.
14 COUNTY OF PULASKI )
15 On this day of August, 2022, before me, the undersigned officer,
16 personally appeared, who acknowledged himself/herself to be the
17 of THE PEAKS AT LITTLE ROCK PHASE II, LIMITED
18 PARTNERSHIP, and that he/she as such and being authorized to do so, executed the foregoing
19 instrument for the purposes therein contained.
20 In witness thereof I have hereunto set my hand and official seal.
21
22 Notary Public
23 My Commission Expires:
24 RICHSMITH HOLDINGS
25
26 Signature of Representative
27
28 Printed Name and Title of Representative
29
30 Date
31
32
33
34
[Page 28 of 43]
1 ACKNOWLEDGEMENT
2
3 STATE OF ARKANSAS )
4 )ss.
5 COUNTY OF PULASKI )
6 On this day of August, 2022, before me, the undersigned officer,
7 personally appeared, who acknowledged himself/herself to be the
8 of RICHSMITH HOLDINGS, LLC, and that he/she as such and being
9 authorized to do so, executed the foregoing instrument for the purposes therein contained.
10 In witness thereof I have hereunto set my hand and official seal.
11
12 Notary Public
13 My Commission Expires:
14 RIDGE CONSTRUCTION,LLC
15
16 Signature of Representative
17
18 Printed Name and Title of Representative
19
20 Date
21
22 ACKNOWLEDGEMENT
23
24 STATE OF ARKANSAS )
25 )ss.
26 COUNTY OF PULASKI )
27 On this day of August, 2022, before me, the undersigned officer,
28 personally appeared ,who acknowledged himself/herself to be the
29 of RIDGE CONSTRUCTION, LLC, and that
30 he/she as such and being authorized to do so, executed the foregoing instrument for the purposes therein
31 contained.
32 In witness thereof I have hereunto set my hand and official seal.
33
34 Notary Public
Page 29 of 431
1 My Commission Expires:
2 CITY OF LITTLE ROCK;
3 THE HONORABLE FRANK SCOTT,JR.,as
4 Mayor of the City of Little Rock; CITY OF
5 LITTLE ROCK DEPARTMENT OF
6 PLANNING& DEVELOPMENT; JAMIE
7 COLLINS,P.E.,as Director of the City of
8 Little Rock Department of Planning&
9 Development; DORIS WRIGHT,as City
10 Director for the City of Little Rock; and CITY
11 OF LITTLE ROCK CONSTRUCTION
12 BOARD OF ADJUSTMENT AND APPEALS
13
14 By:
15 Bruce Moore, City Manager,
16
17 by that authority given pursuant to
18 Resolution No. 15,754 of the City of Little
19 Rock,Arkansas,dated August 16,2022
20
21 Date
22
23 ACKNOWLEDGEMENT
24
25 STATE OF ARKANSAS )
26 )ss.
27 COUNTY OF PULASKI )
28 On this day of August, 2022, before me, the undersigned officer, personally
29 appeared Bruce Moore,who acknowledged himself to be the City Manager of the City of Little Rock,and
30 that he as such and being authorized to do so, executed the foregoing instrument for the purposes herein
31 contained.
32 In witness thereof I have hereunto set my hand and official seal.
33
34 Notary Public
35 My Commission Expires:
[Page 30 of 43]
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AILL INC
nnar9.wo..l..1
— N
1 Bill of Assurance
2
3 Prepared by and after recording return to:
4 Danielle Litaker-Nall,Esq.
5 9800 Maumelle Boulevard Little Rock,AR 72113
6 501-758-0050
7
8 Plat of Lot 1 & 2 The Peaks at Little Rock an Addition to Little Rock, Pulaski County,
9 Arkansas
10
11 THIS Bill of Assurance For Plat of Lot 1 & 2 The Peaks at Little Rock an Addition to Little Rock,
12 Pulaski County, Arkansas is made this day of August, 2022, by The Peaks at Little Rock, Limited
13 Partnership, an Arkansas limited partnership, with the address of 17200 Chenal Parkway, Suite 300 #237,
14 Little Rock,Arkansas 72223 and RichSmith Holdings,LLC,with the address of 9800 Maumelle Boulevard,
15 North Little Rock,Arkansas, 72113, hereinafter collectively referred to as"GRANTOR".
16 WHEREAS, the GRANTOR is the owner of the property located in Little Rock, Pulaski County,
17 Arkansas,more particularly described in Exhibit A, attached hereto; and
18 WHEREAS,GRANTOR has caused said tract of land to be surveyed and engineered by White-Daters
19 & Associates, Inc. and a lot split/plat thereof made which is identified by the title Plat of Lot 1 & 2 The
20 Peaks at Little Rock an Addition to Little Rock, Pulaski County, Arkansas, said plat is dated August _,
21 2022,bears the signature of said Land Surveyor and Engineer and the said GRANTOR, bears a Certificate
22 of Approval executed by the City of Little Rock Director of Planning, is on record in the Office of the
23 Circuit Clerk and ex-Officio Recorder of Pulaski County,Arkansas, Document Number_, and the
24 GRANTOR does hereby make this the Bill of Assurance.
25 NOW THEREFORE,GRANTOR does hereby certify that it has platted said real estate in accordance
26 with said plat. The lands embraced in said plat shall be forever known as designed on said plat and every
27 deed of conveyance for said property shall use this designation.
28 The filing of this Bill of Assurance and lot split/plat for record in the Office of Circuit Clerk and ex-
29 Officio Recorder of Pulaski County shall be a valid and complete delivery and dedication of the public right
30 of way and easements shown on said plat.
31 All buildings constructed on said lots shall be constructed in conformance with the Building Code and
32 Zoning Ordinance of the City of Little Rock,Arkansas.
33
[Page 32 of 431
1 IN WITNESS WHEREOF,GRANTOR does hereby execute this Bill of Assurance on the date set
2 forth above.
3
4 THE PEAKS AT LITTLE ROCK,
5 LIMITED PARTNERSHIP
6
7 By: Peaks Management Little Rock,LLC
8 Its: General Partner
9
10
11
12 Tonya Peebles,Manager
13
14 RICHSMITH HOLDINGS,LLC
15
16
17
18 William Keith Richardson,as Trustee of William
19 Keith Richardson Trust,Member
20
21 ACKNOWLEDGMENT
22
23 STATE OF ARKANSAS )
24 )ss.
25 COUNTY OF PULASKI )
26
27 On this day personally appeared before the undersigned,a Notary Public within and for the County and
28 State set forth in the seal below,duly qualified,commissioned and acting,the within named Tonya Peebles,
29 to me personally well known,who stated that she was the Manager of Peaks Management Little Rock, LLC,
30 an Arkansas limited liability company,the General Partner of The Peaks at Little Rock,Limited Partnership,
31 and stated and acknowledged that she was duly authorized in her respective capacity to execute the
32 foregoing instrument for and in the name and behalf of said limited liability company on behalf of the
33 limited partnership and further stated and acknowledged that she had so signed, executed, and delivered
34 said foregoing instrument for the consideration, uses, and purposes therein mentioned and set forth.
[Page 33 of 431
1 IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this day of
2 ,2022.
3 Notary Public
4 My Commission Expires:
5
6 STATE OF ARKANSAS )
7 )ss.
8 COUNTY OF PULASKI )
9
10 On this day personally appeared before the undersigned,a Notary Public within and for the County
11 and State set forth in the seal below, duly qualified, commissioned and acting, the within named
12 William Keith Richardson, to me personally well known, who stated that he was the Trustee of the
13 William Keith Richardson Trust, a Member of RichSmith Holdings, LLC, and stated and
14 acknowledged that he was duly authorized in his respective capacity to execute the foregoing
15 instrument for and in the name and behalf of said limited liability company and further stated and
16 acknowledged that he had so signed, executed and delivered said foregoing instrument for the
17 consideration, uses, and purposes therein mentioned and set forth.
18 IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this day of
19 , 2022.
20 Notary Public
21 My Commission Expires:
22 //
23 //
24 //
25 //
26 //
27 //
28 //
29 //
30 //
31 //
32 //
33 //
1Page 34 of 431
1 EXHIBIT A
2
3 Le2a1 Description
4
5 PART OF THE SE1/4 NW1/4 OF SECTION 15, T-1-N, R-13-W, PULASKI COUNTY,
6 ARKANAS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
7 BEGINNING AT THE NORTHWEST CORNER OF SAID SE1/4 NW1/4; THENCE
8 N88°30'23"E, A DISTANCE OF 639.80 FEET TO THE NORTHWEST CORNER OF
9 TRACT A, KENSINGTON PLACE, PHASE 1; THENCE SO4°19'36"W, ALONG THE
10 WEST LINE OF SAID TRACT A, A DISTANCE OF 600.67 FEET TO THE
11 NORTHEAST CORNER OF LOT 262, KENSINGTON PLACE, PHASE 2; THENCE
12 573°34'15"W,ALONG THE NORTH LINE OF SAID LOT 262,A DISTANCE OF
13 118.39 FEET TO A POINT ON THE EASTERLY RIGHT OF WAY LINE OF DOVER
14 DRIVE;THENCE 554°35'35"W,A DISTANCE OF 63.57 FEET TO A POINT ON THE
15 WESTERLY RIGHT OF WAY LINE OF DOVER DRIVE; THENCE S80°27'51"W, A
16 DISTANCE OF 284.57 FEET;THENCE N88°33'55"W,A DISTANCE OF 175.69 FEET
17 TO A POINT ON THE WEST LINE OF THE SAID SE1/4 NW1/4; THENCE
18 NO2°15'18"E, ALONG SAID WEST LINE, A DISTANCE OF 695.88 FEET TO THE
19 POINT OF BEGINNING.CONTAINING 9.68 ACRES,MORE OR LESS.
20 //
21 //
22 //
23 //
24 //
25 //
26 //
27 //
28 //
29 //
30 //
31 //
32 //
33 //
34 //
[Page 35 of 431
1 EXHIBIT B
2
3 IN THE UNITED STATES DISTRICT COURT
4 EASTERN DISTRICT OF ARKANSAS
5 CENTRAL DIVISION
6
7 THE PEAKS AT LITTLE ROCK,LIMITED
8 PARTNERSHIP; THE PEAKS AT
9 LITTLE ROCK PHASE II,LIMITED PARTNERSHIP;
10 RICHSMITH HOLDINGS,LLC;and
11 RIDGE CONSTRUCTION,LLC PLAINTIFF
12
13 v NO.4:21-cv-01093-BRW
14
15 CITY OF LITTLE ROCK;
16 THE HONORABLE FRANK SCOTT JR.,as
17 Mayor of the City of Little Rock;CITY OF LITTLE ROCK DEPARTMENT
18 OF PLANNING&DEVELOPMENT;JAMIE
19 COLLINS,P.E.,as Director of City of Little Rock
20 Department of Planning&Development; DORIS WRIGHT,
21 as City Director for the City of Little Rock;and
22 CITY OF LITTLE ROCK CONSTRUCTION
23 BOARD OF ADJUSTMENT AND APPEALS DEFENDANTS
24
25 JOINT STIPULATION OF DISMISSAL WITH PREJUDICE
26
27 Plaintiffs The Peaks at Little Rock, Limited Partnership, The Peaks at Little Rock Phase H,Limited
28 Partnership,RichSmith Holdings,LLC,and Ridge Construction,LLC,and Defendants City of Little Rock,
29 The Honorable Frank Scott, Jr., as Mayor of the City of Little Rock, City of Little Rock Department of
30 Planning & Development, Jamie Collins, P.E., as Director of the City of Little Rock Department of
31 Planning&Development,Doris Wright,as City Director for the City of Little Rock,and City of Little Rock
32 Construction Board of Adjustment & Appeals STIPULATE and AGREE that the causes of action
33 described in Plaintiffs' Amended Verified Complaint(Dkt.No. 26)have been settled and compromised.
34 The Amended Verified Complaint (Dkt. No. 26) should be dismissed with prejudice, with each party
[Page 36 of 43]
1 responsible for its own costs and attorneys' fees. As part of the settlement of this matter, the parties
2 request the Court retain jurisdiction of this matter for the purpose of any disputes that might arise between
3 them concerning the terms and provisions of their settlement agreement and release, less and except any
4 portion of the settlement agreement relating to or regarding meetings between RichSmith Management,
5 LLC and Kensington Place Property Owners Association, and to enforce the terms and provisions of the
6 settlement agreement and release, less and except any portion of the settlement agreement relating to or
7 regarding meetings between RichSmith Management, LLC and Kensington Place Property Owners
8 Association.
9 DATED August , 2022.
10
11 Respectfully submitted,
12
13 Thomas H. Wyatt, Ark. Bar No. 2013273 Meredith
14 A. Powell, Ark. Bar No. 2019164 Brittany S. Ford,
15 Ark. Bar No. 2018102
16 QUATTLEBAUM,GROOMS&TULL PLLC
17 111 Center Street,Suite 1900
18 Little Rock, Arkansas 72201
19 Telephone: (501)379-1701
20 Facsimile: (501)379-1700
21 E-Mail: twyatt@qgtlaw.com
22 E-Mail: mpowell@ggtlaw.com
23 E-Mail: bford@qgtlaw.com
24 Attorneys for Plaints
25
26 Thomas M. Carpenter, Ark. Bar No. 77024
27 Shawn A.M.Overton,Ark.Bar No.2000120
28 Alexander J. Betton,Ark. Bar No. 2009275
29 City Hall—Suite 310
30 500 West Markham
31 Little Rock,Arkansas 72201
32 Telephone: (501)371-6895
33 Facsimile: (501)371-4675
34 E-Mail: tcarpenter@littlerock.gov
35 E-Mail: soverton@littlerock.gov
36 E-Mail: abetton@littlerock.gov
37 Attorneys for Defendants
38
39
40
41
[Page 37 of 431
1 CERTIFICATE OF SERVICE
2
3 I,Thomas H. Wyatt,hereby certify that on August_,2022, I electronically filed the foregoing with the
4 Clerk of Court using the CM/ECF Electronic Filing System, which shall send electronic notification to all
5 Counsel of Record.
6 //
7 //
8 //
9 //
10 //
11 //
12 //
13 //
14 //
15 //
16 //
17 //
18 //
19 //
20 //
21 //
22 //
23 /I
24 /I
25 //
26 //
27 //
28 //
29 //
30 //
31 //
32 //
33 //
34 //
[Page 38 of 43]
1 THIS INSTRUMENT PREPARED
2 BY AND WHEN RECORDED
3 RETURN TO:
4 Grant M. Cox, Esq.
5 QUATTLEBAUM,GROOMS &TULL PLLC
6 111 Center Street,Suite 1900
7 Little Rock,Arkansas 72201
8 (501)379-1700
9
10 RELEASE OF EASEMENT
11
12 THIS RELEASE OF EASEMENT("Release") is made and entered into as of this day of August,
13 2022, by RICHSMITH HOLDINGS, LLC, an Arkansas limited liability company and THE PEAKS AT
14 LITTLE ROCK,LIMITED PARTNERSHIP,an Arkansas limited partnership(collectively,the"Releasor").
15 WHEREAS,the Releasor owns certain property located in the City of Little Rock,County of Pulaski,
16 State of Arkansas, more particularly described on EXHIBIT A which is attached hereto and incorporated
17 herein(the"Releasor Property");
18 WHEREAS, pursuant to that certain Warranty Deed dated October 6, 1954, and recorded in the real
19 estate records of Pulaski County,Arkansas,on October 12, 1954, in Book 552, Page 205, Releasor by and
20 through Releasor's predecessors in title has exclusive fishing privileges in and on the North two lakes in the
21 East 812 feet of the South 1,895.5 feet of said E1/2 of the NW 1/4 of said Section 15 and the right to enter
22 said land for such purpose and said exclusive fishing privileges and the right of entry shall pass by
23 conveyance of title of the Releasor Property(the"Easement"); and
24 WHEREAS,it is the desire of Releasor to terminate such Easement,and to waive and release and claims
25 it may have with regard to such Easement.
26 Now,THEREFORE, in consideration of the covenants, terms, and conditions set forth herein, and for
27 other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
28 Releasor does hereby state as follows:
29 1. Incorporation of Recitals. The recitals set forth above are true and correct and are incorporated
30 herein by this reference as substantive provisions of this Release and not mere recitals.
31 2. Extinguishment of Rights. The Easement, with respect to the Releasor Property, is hereby
32 terminated,released, and extinguished as of the date hereof.
33 3. Release of Rights. Releasor hereby agrees that with respect to the Releasor Property,the Easement
34 is terminated,released,and of no further force or effect as of the date hereof,and Releasor hereby releases,
[Page 39 of 43]
1 terminates,waives,and disclaims any right,cause of action,or claim which it may have with respect to the
2 Easement, and such release shall extend to Releasor's successors and assigns.
3 4. Governing Law and Venue. The laws of the State of Arkansas shall govern this Release. Any
4 legal action instituted hereunder shall be brought in Pulaski County,Arkansas.
5 5. Other Documents. Release agrees to execute such other and further documents as shall be
6 deemed reasonably necessary to effectuate the terms and conditions of this Release.
7 IN WITNESS WHEREOF, Releasor has executed this Release as of the date first above written.
8 RELEASOR
9 RICHSMITH HOLDINGS,LLC,
10 an Arkansas limited liability company
11
12 By:
13
14 Name:
15 Its:
16
17 ACKNOWLEDGMENT
18
19 STATE OF ARKANSAS )
20 )ss.
21 COUNTY OF PULASKI )
22 On this_ day of August,2022, before me, , a
23 Notary Public, duly commissioned, qualified and acting, within and for said County and State, appeared
24 in person the within named , satisfactorily proven to be such
25 person,who stated that was the Manager of RichSmith Holdings, LLC,an Arkansas limited liability
26 company, and was duly authorized in _respective capacity to execute the foregoing instrument for and
27 in the name and behalf of said limited liability company and further stated and acknowledged that_had
28 so signed, executed, and delivered said foregoing instrument for the consideration, uses, and purposes
29 therein mentioned and set forth.
30 IN TESTIMONY WHEREOF,I have hereunto set my hand and official seal this_day of August,2022.
31
32 Notary Public
33 My Commission Expires:
[Page 40 of 431
1 THE PEAKS AT LITTLE ROCK,LIMITED
2 PARTNERSHIP,an Arkansas limited partnership
3
4 By:PEAKS MANAGEMENT LITTLE ROCK,LLC,an
5 Arkansas limited liability company,
6 its General Partner
7
8 By:
9 Tonya Peebles, Manager
10
11 ACKNOWLEDGMENT
12
13 STATE OF ARKANSAS )
14 )ss.
15 COUNTY OF PULASKI )
16 On this_day of August,2022, before me, , a
17 Notary Public,duly commissioned,qualified and acting,within and for said County and State,appeared in
18 person the within named Tonya Peebles, satisfactorily proven to be such person,who stated that she was
19 the Manager of Peaks Management Little Rock, LLC,an Arkansas limited liability company,which is the
20 General Partner of The Peaks at Little Rock,Limited Partnership,an Arkansas limited partnership,and was
21 duly authorized in her respective capacity to execute the foregoing instrument for and in the name and behalf
22 of said limited liability company and limited partnership and further stated and acknowledged that she had
23 so signed,executed,and delivered said foregoing instrument for the consideration,uses,and purposes therein
24 mentioned and set forth.
25 IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this_day of August,2022.
26
27
28 Notary Public
29 My Commission Expires:
30 //
31 //
32 //
33 //
34 //
lPage 41 of 431
*17
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