HomeMy WebLinkAboutBill of Assurance Draft
Instrument Prepared by:
Price C. Gardner
Friday Eldredge & Clark LLP
400 West Capitol Avenue, Suite 200
Little Rock, Arkansas 7221
(501) 376-211
DECLARATION OF RESTRICTIONS AND COVENANTS,
GRANT OF EASEMENTS
THIS DECLARATION OF RESTRICTIONS AND COVENANTS (this "Declaration") is made as of the _____ day of ____________, 213, by 15400 CHENAL, LLC, an Arkansas limited liability company ("Grantor").
R E C I T A L S
WHEREAS, the Grantor has caused the lands described on Exhibit “A-1” attached hereto (the “Property”) to be surveyed by White-Daters & Associates, Inc., and a preliminary plat made
thereof, identified by the title “_______________________” and showing the boundaries and dimensions of the Property now being platted into two (2) tracts to be forever known as “Lot
1 and Lot 2 of the _______________________________ to the Chenal Commercial Park Addition to the City of Little Rock, Pulaski County, Arkansas,” a copy of which is attached hereto as
Exhibit “A-2” (the "Plat");
WHEREAS, this Declaration is made with respect to the real property designated and shown as proposed Lot 1 and Lot 2 on the Plat (each a “Lot” or the “Lots”), which real property is
hereinafter referred separately as a “Lot 1” and “Lot 2”, as the case may be, and the legal descriptions of which are contained on Exhibit "B" attached hereto and by reference incorporated
herein; and
WHEREAS, the Grantor is the Fee Owner of the Property; and
WHEREAS, the Grantor desires to file this Declaration to protect its interest and the interests of others which may in the future become fee owners (each an “Owner”) of the Lots shown
on the
Instrument Prepared by:
Price C. Gardner
Friday Eldredge & Clark LLP
400 West Capitol Avenue, Suite 200
Little Rock, Arkansas 7221
(501) 376-211
DECLARATION OF RESTRICTIONS AND COVENANTS,
GRANT OF EASEMENTS
THIS DECLARATION OF RESTRICTIONS AND COVENANTS (this "Declaration") is made as of the _____ day of ____________, 213, by 15400 CHENAL, LLC, an Arkansas limited liability company ("Grantor").
R E C I T A L S
WHEREAS, the Grantor has caused the lands described on Exhibit “A-1” attached hereto (the “Property”) to be surveyed by White-Daters & Associates, Inc., and a preliminary plat made
thereof, identified by the title “_______________________” and showing the boundaries and dimensions of the Property now being platted into two (2) tracts to be forever known as “Lot
1 and Lot 2 of the _______________________________ to the Chenal Commercial Park Addition to the City of Little Rock, Pulaski County, Arkansas,” a copy of which is attached hereto as
Exhibit “A-2” (the "Plat");
WHEREAS, this Declaration is made with respect to the real property designated and shown as proposed Lot 1 and Lot 2 on the Plat (each a “Lot” or the “Lots”), which real property is
hereinafter referred separately as a “Lot 1” and “Lot 2”, as the case may be, and the legal descriptions of which are contained on Exhibit "B" attached hereto and by reference incorporated
herein; and
WHEREAS, the Grantor is the Fee Owner of the Property; and
WHEREAS, the Grantor desires to file this Declaration to protect its interest and the interests of others which may in the future become fee owners (each an “Owner”) of the Lots shown
on the Plat. Grantor and those future Fee Owners may be hereinafter collectively referred to as "Parties" or singularly as a "Party"; and
maintenance and repair of the Access Easement Area contemplated herein includes, but is not limited to, the resurfacing and/or reconstruction of said drive areas. The cost of maintenance
and repairs to the Access Easement Area shall be paid by the Lot 2 Owner; provided, however, the Lot 1 Owner shall pay the Lot 2 Owner a maintenance fee of $1,000 per year, due and
payable on the first day of each calendar year. However, each Owner shall be responsible for repairing any damage within the easement area resulting from the Owner or its tenant’s
delivery trucks or other actions of the Owners or its tenants and their respective successors, mortgagees, lessees, assigns, contractors, licensees, customers, invitees or employees.
In such instance the Owner responsible for such damage shall be responsible for the entire cost of such repair.
3. No Cross Parking. No cross parking shall be permitted on either property. No Owner, invitees, employees or agents of an Owner or any tenant of an Owner party shall park, stage or
otherwise allow vehicles or trailers to be parked or stored on the other party’s property or otherwise left unattended without the prior written permission of the other Owner setting
forth the nature and duration of agreement.
4. Utility Easements. Grantor further grants and subjects Lot 1 and Lot 2 to easements within the strips of ground shown and dimensioned on the drawings of Lot 1 and Lot 2 as shown
on said Plat and marked as utility easement areas for the installation, maintenance, repair, and use of and by public utilities, and for drainage purposes, respectively, subject at
all times to the proper authorities and to the easement and restrictive covenants herein reserved. The party performing any such installation shall provide written notice to the Owner
of the affected Lot 1 and Lot 2 prior to the commencement of construction. Such utilities shall include, but not be limited to, electrical, gas, water, fiber, and other telecommunication
services, drainage, storm water, and sanitary sewer conduits and facilities for the benefit and use of the public utilities and public. Accordingly, all Owners and future Owners of
the Lot 1 and Lot 2 shown on said Plat, shall take their title subject to the rights of public utilities and the public in the street’s right-of-way and the utility and drain easements
shown on the Plat. The filing of this Declaration for record in the office of the Circuit Clerk and Ex Officio Recorder of Pulaski County, Arkansas, shall be a valid and complete delivery
and dedication of said public right-of-way and utility easements shown on said Plat.
5. Drainage Easement. Grantor hereby reserves, dedicates, creates, establishes and declares a perpetual easement on Lot 2 and Lot 1 for stormwater drainage across the surface area
of
the parking lots and within underground piping utilizing the grated inlets located located on, about or under the Lots.
6. Compliance with Governmental Restrictions. The construction of any buildings or improvements on any Lot shall comply with and be subject to all building codes, zoning ordinances
and restrictions imposed by the City of Little Rock, Arkansas Highway and Transportation Department and any other federal, state, county or local authority and any restrictions having
jurisdiction over the Property.
6. Enforcement of Obligations. In the event legal proceedings are brought or commenced to enforce any of the terms of this Declaration against any owner or other person with an interest
in a Lot, the successful party in such action shall be entitled to receive and shall receive from the defaulting Owner any and all damages permitted by law, plus a reasonable sum as
attorneys, fees and costs, to be fixed by the court in the same action.
7. Duration. Unless otherwise canceled or terminated, all of the easements granted in this Declaration shall continue in perpetuity and all other rights and obligations hereof shall
automatically terminate and be of no further force and effect ninety nine (99) years after the date of filing hereof.
8. Modifications. All negotiations and oral agreements acceptable to the Grantor have been incorporated herein. Except as otherwise provided herein, this Declaration may not be modified
in any respect whatsoever or rescinded, in whole or in part, except by a writing executed by the Grantor and then current Owners of the Lot 1 and Lot 2.
9. Miscellaneous.
(a) Not a Public Dedication. Nothing herein contained shall be deemed to be a gift or dedication of any portion of any Lot to the general public or for any public purposes whatsoever,
it being the intention of the Grantor and the Owners that this Declaration shall be strictly limited to and for the purposes herein expressed.
(b) Severability. If any term or provision of this Declaration or the application of it to any person or circumstance shall to any extent be invalid and unenforceable, the remainder
of this Declaration or the application of such term or provision to persons or circumstances other than those as to which it is invalid or unenforceable shall not be affected thereby,
and each term and provision of this Declaration shall be valid and shall be enforced to the extent permitted by law.
(c) Governing Law. This Declaration shall be construed and enforced in accordance with, and governed by, the law of the State of Arkansas.
(d) No Presumption. This Declaration shall be interpreted and construed only by the contents hereof and there shall be no presumption or standard of construction in favor of or against
any Owner.
(e) Inurement. This Declaration and the easements, covenants, benefits and obligations created hereby shall inure to the benefit and be binding upon each owner, and their respective
successors and assigns.
(f) Other Agreements. Nothing herein shall restrict an Owner from imposing upon a tenant of such Owner’s Lot more restrictions and/or higher standards than set forth herein.
(g) Subdivision and Zoning Ordinances. Notwithstanding any provision hereof to the contrary, any lawful restrictions imposed by the City of Little Rock which is more restrictive on
use than the provisions hereof shall be applicable and shall supersede the provisions hereof.
(h) Entire Agreement. This Declaration constitutes the entire agreement regarding this subject matter between the Parties hereto. The Parties do not rely on any statement, promise
or representation not herein expressed, and this Declaration, once executed, delivered and filed, shall not be modified or altered in any respect except as provided herein.
(i) No Third Party Beneficiaries. No party, other than the Owners shall have any rights or benefits of this Declaration.
IN WITNESS WHEREOF, this Declaration has been executed as of the date first above written.
15400 Chenal, LLC
By: ________________________________
Larry Crain, Jr., Manager
ACKNOWLEDGMENT
STATE OF ARKANSAS )
) ss.
COUNTY OF PULASKI )
On this day, before me, a Notary Public, duly commissioned, qualified and acting, within and for said County and State, appeared in person the within named Larry Crain, Jr., to me personally
well known, who stated that he was the manager of 15400 CHENAL, LLC, an Arkansas limited liability company, and that he was duly authorized in his capacity to execute the foregoing
instrument for and in the name and behalf of said limited liability company, and further stated and acknow ledged that he had so signed, executed and delivered said foregoing instrument
for the consideration, uses and purposes therein mentioned and set forth.
IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this _____ day of __________________, 2013.
____________________________________
Notary Public
My Commission Expires:
_____________________
EXHIBIT "A-1"
LEGAL
EXHIBIT "A-2"
PRELIMINARY PLAT
EXHIBIT "B"
LEGAL DESCRIPTION FOR PROPOSED LOT 1 AND LOT 2
EXHIBIT "C"
ACCESS EASEMENT AREAS