HomeMy WebLinkAboutBill of Assurance 0420232023013195 Page 1 0£ 19
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t'aeseMep. oa-toaota ti.ae.trun RECOROEO; p3-10.202311:12:2pgM
In Official Recortls of Tem HollingswoM CircuiVCouny Clerk
This hstrument Prepared by: PUL45KI CO, qR FEE $105.OD
Price C. Gazdner ``ssti4G12:tP{4 ` -
FRIDAY,ELDItEnGE&CLARx,
400 West Capitol Aveaue, Suite 2000 .............
Little Rock, Arkansas 72201 _ � r G E
Er ac
" k4ry�tlPdt'ie W'p 1�"1
DECLARATION OF ADDTTIONAtrRICTIONS AND COVENANTS
FOR TRACT 6 -CROSSROADS AT CHENAL ADDITION
THIS DECLARATION OF ADDITIONAL RESTRICTIONS AND COVENANTS (this
"Declaratiod') is made as of the /Ot" day of iY/ilRGvl 2023, by CHENAL PROPERTY
INVESTORS V, LLC, an Arkansas limited liability company (the "Grantor").
RECITALS
WHEREAS, the Grantor has caused the lands described on Exhibit A-1 attached hereto (the
"Property" or "Tract 6'� to be surveyed by Joe White &Associates, Inc., and a proposed plat made thereof,
identified by the title "Crossroads at Chenal Addition." The proposed plat bears the signatures and seals of
Daniel W. Hamer, Registered Professional Land Surveyor (the "Preliminary Plaf�, a copy of which is
attached herero as Exhibit A-2 and made a part hereof.
WHEREAS, the Grantor is the Fee Owner of the Property and has preliminarily caused the Properly
to be divided into five (S) separately drown lots designated on the Preliminary Plat as Lots 1 through 5,
respectively (each a "LoY' and collectively the "Lots', each Lo[ to be more particularly described onthe 5nal
plat filed with respect to such Lot or subdivision [hereof (the "Final Plat");
WHEREAS, the Property is subject to that certain Declaration of Covenants and Restrictions of
Chenal Valley on November 22, 1989, as Instrument No. 89-61706" and additional supplements and
amendments [hereto (wllectively the "Chenal Covenant of Restrictions' creating a communiTy known as
"Chenal Valley", and that certain Bill of Assurance of Chenal Valley Commercial Neighborhood on
September 3Q, ] 996 as InshvmentNo. 96-68199 creating the Chenal Valley CommercialNeighbofiood, and
additional supplements and amendments thereto (the "Chenal Bill of Assurance")(collectively, the "Chenal
Valley Covenants");
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WHEREAS, the Grantor desires to file this Declaration in addifion to the Chenal Valley Covenarts to
further protect its interest and the interests of others which may in the future become Fee Owners of a Lo[ or
the Property. Grantor and those future fee owners may be hereinafter collectively referred to as "Parties" or
singularly as a "Party"; and
WHEREAS, the Grantorhereby establishes,to thefullest extent permitted by law, certain covenants,
restrictions and charges (collectively, the "Additional Restrictions") as are hereinafter set forth, subject to
which all ofthe Property and every portion [hereof, shall be improved, held, exchanged, leased, sold and/or
conveyed. Each ofthe Additional Restrictions isimposed upon each Loon the Property asamutual equitable
serviNde in favor of the other Lots and every part [hereof. Each of the Additional Restrictions shall create
reciprocal rights and obligafions among each of the owners; they shall further create a private contract and
estate between current and furore owners ofthe Lots and the Property and thew heirs, successors, and assigns;
and they shall be and operate as covenants running with the land for the benefit of [he Property in each and
every part and portion [hereof.
NOW, TI-IEREFORE, in consideration of the foregoing, and the covenants and agreements set forth
herein, the Grantor agrees as follows:
1. Incorooration of Chenal Vallev Covenants. Grantor acknowledges and hereby ratifies that
the Property and development thereof are expressly subject to certain Declaration of Covenants and
Restrictions of Chenal Valley filed on November 22, 1989, as Instrument No. 89-61706 and additional
supplements and amendments thereto (collectively the "Chenal Covenant of Restrictions' creating a
community known as "Chenal Valley", and that certain Bill of Assurance of Chenal Valley Commercial
Neighborhood filed on September 3Q, 1996 as Instrument No. 96-68199 creating [he Chenal Valley
Commercial Neighborhood, and additional supplements and amendments thereto (the "Chenal Bill of
Assurance'�(collectively, the "Chenal Valley Covenants"). Grantor hereby incorporates the Chenal Valley
Covenants into this Declaration and makes them a part hereof by reference as if set forth word for word
herein. To the extentthatthe terms andconditions ofthis Declaration conflictwith or contradict the tears of
the Chenal Valley Covenants and this restriction or covenant underthis Declaration is less restriMivethan the
Chenal Valley Covenants, then the Chenal Valley Covenants shall be deemed controlling, but m all other
cases the terms of this Declaration shall be deemed [o control.
2. Desipn and Constmction ofBuildines. In addifion to the restrictions and approvals required
under the Chenal Valley Covenants, the following additional resMctions and covenants shall apply to the
Property:
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(a) Grantor must approve all initial constmction on any Lot, including architectural theme,
design,color, access and pazking prior to submissionto theAmhdeclural Review Committee(the"ARC")and
as defined in the Chenal Valley Covenants and Cttantor shall review in accordancewith [he timelines set forth
in dte Chenal Valley Covenants defined for the ARC's review and comment.
(b) Roofs on all single story shuctures shall be metal roofing, TPO (Thermoplastic
Polyolefin) roofing systems or Modified Bitumen roo5ngsystems and consistentin coloran appeazance to the
building. Roofs on buildings thaz are more than one story shall be constructed materials typically used in the
constmction of upscale multi -story office and commercial buildings located in Little Rock, Arkansas. No
asphalt, wood or other shingles shall be used on the roof of any building located on any Lot covered by this
Declara[ion. Iffollowing initial construction ofbuildings on any Lot, the existing extetiorofany then existing
building is substantially remodeled or there is a rebuilding following a casualty, then unless the remodeling or
reconstruction is substantially similar to the prior existing exteriors, the amhitecmral theme, design, color,
maerials, such remodeling or rebuilding shall be subject to the approvals required under this Paragraph 2.
(c) Once initiated, all building constmcfion must be dingently prosecuted to completion.
(d) Any rooftop equipment or sidewalk mounted shall be appropda[ely screened.
(e) All exterior dumpsterortrash disposal locations shall be completely encased withasolid
wall constructed of materials used in the wnstmctton of the Fee Owner's building and similar in style and
appearance and gated with metal construction such tlrat such dumpsters or [rash containers are not visible
from the other property adjacent [o any Lot.
(f) Fencing shall only be permitted in accordance with the terms of the Chenal Valley
Covenants; provided, however: (i) no wood fencing shall be permitted and brick, block or split face block
fencing shall be permitted consistent with the appearance of the buildings and improvements on any Lot
(g) No free standing satellite dishes or an[ennaes not attached to the building on any Lot
shall be permitted and any such satellite dishes or antennaes located on the motor attached [o any building
shall not be visible from the front of such building.
(h) All above ground imgation equipment, including RPZ Valves, shall be covered and
enclosed from view.
(i) In the eventthe improvements on any Lot aze destroyed or damaged by fire or other
casualty, the Owner of such any Lot shall proceed with due diligence to repair and rebuild such improvements
m a timely manner In the event such Owner elects not 1A rebuild on the Lot within forty-five (45) days of
such damage, then such any Lot shall be cleared of all debris, including the former foundation of any building
constucted thereon, and all non paved areas shall be covered with sod or other landscaping materials
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consistent with the appearance of any other unimproved lots located within the Property, if any. T1te
foregoing notwithstanding, the Owner shall restore all paved areas on the Lot required to provide the cross
access described in this Declaration.
3. Use. The types ofuses permitted on theProperty shall beasenior independent living facility,
multi -family apartments and/or any permitted and accessory uses consistent with the O-2 zoning and not
otherwise prohibited in the Chenal Valley Covenants, thaz certain Special Warranty Deed with Restrictions
and Reservation of Mineral Interests filed on September 8, 2022, as LlsfmmentNo.2022062217 (the `7mct 6
Deed Restrictions' or herein below; provided, nothing contained herein shall be construed to require any
Owner to open or operate any form of business in the Property for any period of time or az all, but it may
operate any form of business not prohibited herein or by ]aw or otherwise. The following uses shall also be
specifically prohibited on the Property regardless of zoning:
(a) Undesirable entertainment or recreational facilities. As used herein, "undesvable
entertainment or recreational facility" includes, a skating rink, massage parlor, discotheque, dance hall, teen
club, free standing night club, bar ortavem not located within a restaurant, hotel or motel constructed on the
Lots, flea market, head shop, pornographic, sexually oriented business or "adult" store, (i.e., a seller of adult
sex products, lingerie, etc.), or tattoo or body piercing parlor or esmblishment
(b) Any use which creates a nuisance or materially increases noise or the emission of
dust, odor (butnot including restaurants which are otherwise pernitted), smoke, gases, does notpreserve the
"sprinkler" fne insurance rates, or increases explosion or radioacfive hazards on adjacent lots.
(c) Distilling, refining, smelting, agriwlmre, or moving operation;
(d) Any mobile home or trailer wort, labor camp, junk yazd, stock yard or animal
raising, exceptthe temporary use of consfmcfion tmilem during the period ofconstmction, recons[mc[ion or
maintenance shall also be permitted;
(e) Any drilling for, in or removal of subsurface substance;
(t) Any dumping,disposing, incinerating or reduction of garbage orrefuse (exclusive of
gazbage compactors located in the reaz of any building);
(g) Any fire sale, going outofbusiness sale, bankruptcy sale (unless pursuant to a court
order) or auction hours operation;
(h) Any outdwr circuses, outdoor public meetings, or commercial laundry plants;
(i) Any "second hand" store, Army, Navy or government "surplus" stow, except for
upscale -type stores;
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Q) Any pawnshop, a business whose primary activity is check cashing, paycheck loan
operation, or the like;
(k) Any on -site dry cleaners (otherthan solely drop -offend pick-up opemfions) orother
similar opemHon;
(I) Any liquor,tobacco, vaping or othersimilaz orsmoking related stores orbusinesses
(does not exclude use as a restaurant selling beer and wine); and
(m) Any funeral home, crematorium or similar business.
The restrictions imposed under this Pamgmph 3 shall be a servitude upon each Lot and shall be
binding upon any person acquiring an interest in any part of any Lot, whether in fee, by lease or otherwise.
The restrictions contained in this Paragraph 3 may not be amended wdhoutwritten consent ofthe Grantorfor
so long as the Grantor owns an interest in the Property, and [hereafter a majority of the owners ofthe other
lots reflected on the Final Pla[(s) of such Lo[s, as may be hereafter amended or modified (with such majority
in interest being deteanined based on the respective square footage of such lots).
The Tract 6 Deed Restrictions shall expire thirty (30) years from the date the Special Warranty Deed
with Restrictions and Reservation Of Mineral Interests was recorded.
4. 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,
Environmental Protection Agency, U.S. Army Corps of Engineers, Arkansas Department ofEnvironmental
Quality, Arkansas Department of Health and any other federal, state, county or local authority and any
restrictions havingjurisdictionpver the Property.
5. Landscaoine. Owner will be responsible forthe design, development and maintenanceofdre
landscape on the Owner's Lot and continuous planting azeas within the vazious rights ofway and easement
areas affecting said Owner's Lot Contiguous lots owned by any Owner reserved for furore expansion shall
have the required landscape areas fronting on any city streets between the sidewalk area and the right ofway
of said sheets fully developed at the times ofthe Initial Use ofthe Owner's improvements on a contiguous
parcel Mowing of any undeveloped parcels shall berequired atleast bi-weekly during the growing season.
Dead or extensively damaged trees, ground cover or shmbs shall be replaced within thirty (30) days after
damage with substantially identical trees, Bound rover, or shrnbs, etc., subject to deferral of replacement
based upon seasonal conditions. In addition [o the foregoing restrictions, with respect to those Lots which
front Chenal Valley Drive and/orRahlingRoad, the Ownerofsuch Lot shall install betweenthe sidewalk and
curb of such street (the "fight of way area's solid zoysia sod (Never Z-521 orother equivalent approved by
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the Grantor together with an appropriate irziga6on system to water the same. No additional shrubbery or
ground cover may be installed within this right of way area The foregoingnotwithstanding, the Grantorshall
have the right to install all such sod at Owner's discretion and irzigatlon system within the right ofway area
and treat such irrigation cost (but notthe initial installaton cost) as a common maintenance expense described
in Pazagmph 13 below. Each Owner shall be responsible far mowing and maintaining the right ofway azea
on its Lot in a manner consistent with such Owner's overall maintenance and mowing of remaining
landscaping on suchLot Provided, however, inthe eventthatsuch Owner fails to maintain such right ofway
area in accordance with the standards exhibited by the other Owners of Lots having frontage on Chenal
Valley Drive and/or Rahling Road, the remaining shall have the right to assume the irzigation, maintenance
and mowing responsibilities within said right of way azea and shall directly charge the costs allocable thereto
to the Owner of such Lat
6. Drainage, Utility and Service Easements. Grantor grants and subjects the Property to and
grants for the benefit of each Lot, perpetual, nonexclusive easements within the Utility Easement Areas as
shown on the Final Pla[ for the installation, opemtioq flow, passage, use, maintenance, connection, repair,
relocatioq and removal of underground lines or systems for utilities serving any or all of the other Lots,
including but not limited to, sanitary sewers, stormwater drains, cable TV, water (fire and domesfic),
irrigaton, gas, electrical, telephone and communication lines, togetherwiththe right ofingress and egress for
installation, maintenance and repair thereof necessary for [he orderly development and opemtion of the
property and the Lot in accordance with the general requirements of the Final Plat No easement shall be
deemed granted under any BuildingArea shown on the Final Plat or under any Building actually constructed
All constmc[ion, alteration, and repair work to any utility described in this Paragraph 6 shall be
accomplished in an expedifiouz manner, in compliance with all laws, rules, regulafions, orders, permits,
approvals and licenses of governmental authorities having jurisdiction. Such construction of any utilities by
Grantor or any Owner shall be subject to the constmction standards required to cause acceptance thereof by
the City of Litfle Rock, Arkansas Department of Health or utility service, as the case may be. The Owner
undertaking such work shall take all reasonably necessary measures to minimize any disruption or
inconvenience caused by such work and, except in the case of an emergency, shall give the affected Owners
and tenants written nonce aminimum ofseventy-two (72) hours priorto commencing such work. Such work
shall be accomplished in such amarmer as to minimize any damage or adverse effectwhich might be caused
by such workto the Lot on which the work is being done..lf such work requires excavation of any portion of
any road, the Owner causing such workto be done shall use all reasonable efforts to cause such excavation to
commence and be completed during hours when the business places in the Property aze not open for business
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to the public and, in any event, shall provide suitable alternative ingress and egre3s immediately adjacent [o
said road if i[ is no[ practical io keep at least one lane of said road open during the work. Any excavation of
any access roadway within the Property shall be properly backfilled within twenty-four (24) hours, if
reasonably practical. The Owner undertaking such work shall repair at its own cost and expense any and all
damage caused by such work and, upon completion ofsuch work, shall promptly restore [he affected portion
ofthe Property or the Lot upon which such work is performed to a condition which is equal to or better than
the condifion which existed prior to the beginning of such work Owner shall provide before and after
photographs showing the area of the work performed. In addition, the Owner undertaking such work shall
promptly pay all costs and expenses associated therewith and shall defend, indemnify and hold the other
Owners harmless from all liens, claims of lien, injuries, damages, losses, or claims, including reasonable
attomey's fees actualty incurred a[ trial and appellate Levels, attributable to the performance or non-
performance of such work. No Owner shall undertake constmction activiTy on another Owner's Lot or the
Properly not owned by such Owner without the prior consent of such Owner.
7. Water Flow and Sani[ary Sewer.
(a) Flow of Water. Grantorhereby reserves,grants,conveys, establishes and declares for
the benefit of each Lot, a permanent, non-exclusive easement on, over, upon, across, under and through any
portion of each Lot for the benefit of the other Lots, az reasonably necessary for surface water run-off and,
within any portion of each Lot which is not a Building Area, for the constmc6on, installation, use,
maintenance and repau of any underground drainage system [o receive surface water from the benefited Lot
and conduct such water over or under each Lot az necessary to a discharge area in accordance withthe overall
underground drainage system fbrthe Property created by Grantor (the "Drainage Plan'. The Owner of each
Lot shall determine in its sole, bu[reasonable, discretion the most effective location fordrainage purposes for
the placement of any and all components ofsuch Drainage Plan located on such Owner's Lot based on the
Drainage Plan and shall submit the plans to the Grantor for review and approval. Following approval, each
Owner hereby agrees [o the location for such improvements az shown on the approved Drainage Plan and
once any drainage line or lines have been installed on any Lot or otherwise, the portion of the applicable Lot
encumbered by such easement granted in this paragraph shall be limited to the area within ten (10) feet on
either side of the center line ofsuch drainage line. Notwithstanding anything contained herein m the contrary,
yr no event shall any owner of a Lotbe permitted to change the natural flow ofthe surface watermnofffrom
such Lot in any manner which increases the concentration of such surface water ran -off onto an adjoining
Lo[. The Drainage Plan shall be designed in strict compliance with the Chenal Valley Covenants.
(b) Storm Water Svstem. Each Owner will constmct on such Owner's Lot and shall
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thereaftermaintain at such Owner's sole cost and expense, the improvements necessary to control the storm
water run-offfrom such properly and to transportthe same under or across the Property to storm water sewer
shown on the site plan and in accordance withthe Drainage Plan. Each Owner shall indemnify and holdthe
Grantor and other Owners of Lots from and against any and al] damages suffered by the Owner of a
Lot including response costs, environmental clean-up costs and attorneys' fees and vests resulting from any
environmenml contamination to such Owner'sLot which contamination camefrom, over, underot across that
respective Owner's Lot.
(c) Sanimry Sewer. The Fee Owner will shall be responsible for bringing sewer to the
property line of such Fee Owner's Lot at such location as deemed most efficient in the discretion ofthe Fee
Owner and each such Fee Owner shall thereafter maintain az ils sole cost and expense, that portion ofthe
sanimry sewer system serving the Properly located on such Owner's Lot Once any portion of said sanitary
sewer line has been dedicated to and the responsibility for the maintenance thereof accepted by the
appropriate government authority, then [he maintenance responsibility set forth herein with respect to such
portion shall automatically terminate.
8. Retainine Walls. The Fee Owner of each Lot owner shall be responsible formaintaining any
retainingwall located on such Owner's Lot Iffollowing initial construction ofthe retaining wall on any Lot,
the wall is damaged, then the Fee Owner of the Lot on which such damaged area exists shall be responsible
for the repair of such wall and shall do so in a prompt manner so as notto cause any additional damage m the
wall orthe sGuctural integrity ofthe enfue retaining wall. Once initiated, all wall construction, maintenance
or repairs must be diligently prosecuted [o completion.
9. Access Easements. The Grantor does hereby dedicate, create, establish and declare a private,
perpemal, non-exclusive easement over, through, upon and across the paved areas of each Lots to serve as a
means of vehicular access and way of ingress and egress for the use and benefit ofthe present Owner and
future Owners) of the Lots and Property, [heir tenants and their respective employees, contractors,
mortgagees, customers, sub -tenants, licensees and invitees, in the full use and enjoyment of the Property on
the following terms and conditions:
(a) GrantofAccess.Ineress andE¢ress Easement Grantor does hereby dedicate,create,
establish, and declare a private, perpetual, non-exclusive access, ingress and egess easement over, through,
upon and across the paved portion of each Lot that is not specifically designated and stripped as a parking
space or no parking azea (the "Access Drive Areas' necessary to provide and serve as a means of vehiculaz
access and way of ingress and egress to and from Chenal Valley Drive and/or Rahling Road for the use and
benefit ofthe presentOwner andfutme Owners)ofthe Lots and PropeAy, thew tenants and their respective
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employees, contractors, mortgagees, customers, tenants, licensees and invitees, in the full use and enjoyment
of the Lots and Properly.
(b) Constmction of Access Drives. The Access Drives, site improvements for such
access driveways, drainage, sewer, curbs and guttering, sidewalks, mm-in and access lanes shall be
constructed in accordance with the standards established by the Grantor and sufficient to meet the standards
acceptable to the CiTy ofLhtle Rock, Arkansas. Grantor shall have no obligation for the costs of any Access
Drives other than except as set forth herein and all such Access Drives necessary to provide access to a Lo[
shall be paid for by the Owner of such Lot The timing and installation of the Access Drive shall be
determined based on development of the Lots m be serviced by such access and all such Access Drives
necessary to access aLot shall be completed priorto the date such Owner receives a certiftca[e of occupancy
for the use of any improvements wnstructed on such Lot. The Grantor shall not be required to install any
traffic signals on Chenal Valley Drive and/or Rahling Road.
(c) Maintenance ofAccess Drive Area. The Access Drive Areas located on an Owner's
Lot shall be maintained by such Owner in good condition and repair at its sole cost and expense. The
foregoing notwithstanding, at the election of Owners, the maintenance vests of the Access Drive Areas
located between any curb cuts on Chenal Valley Drive or Rahling Aoad may be handled as a common area
expense among [hose Lofs being served by such curb cut in accordance with the provisions of Pazagraph 13
below as it relates to common maintenance obligations. However, no Owner shall be responsible for
repairing any damage within the Access Drive Area directly resulting from anotherOwner's or its successors'
delivery trucks or other actions of such Owner, its successors, mortgagees, tenants, assigns, contractors,
licensces, invitces or employees. The Owner ortenantcausing such damage shallbe responsible forrepairing
any such damage and the failure to do so shall be subject to the Owner of the affected Lot having the
enforcement rights set forth in Paragraph 10 below.
(d) Mutual Oblieations. Grantor and Owner of the Lots and Property shall use the
Access Drive Areas with due regard for the rights of each other. Grantor and the Owner of the Lots and
Property hereby agree to keep the easement areas free of obstacles or obstmctions which would prevent or
hinderthe free passage of vehiculartraffic within or across the easement areas. No pazking shallbe permitted
in the Access Drive Areas. Grantor and the Owner of the Lots and Property agree not to place bariers or
blockades between thew respective parcels and the easementareas. Notwithstanding the foregoing, nothing m
this Agreement shallbe construed as limiting either parry's abiliTy to use the easement areas for delivery by
ifs [rocks. Neither party, nor its successors, mortgagees, lessees, assigvs, tenants or employees shall be
permitted to park vehicles on the other party's parcel. If either party fails to repair or mainmin the easement
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area on its parcel, then the other party shall have the right, bm not the obligation, ro repair or maintain that
portion of the easement azea oa the other party's parcel at its own expense.
(e) Reservations. Each party hereby reserves therightto usethe easementareaslocated
on its property for all purposes not inconsistent with the easements herein granted and to grantnoncxclusive
easements to others far any purpose which shall not interfere with the easements herein granted.
(� No Public Riehfs Created Nothing herein shall create orbe construed to create any
rights in and/or for the benefit of the general public in or to the easement areas.
(g) No CrossPazkinm. Noinvitees,employees or agents ofan Owneroranyteaantofan
Owner shall have any right to park on the Lot of another Owney except where the parties have made a
sepazate agreement.
10. Enforcement of Oblieations. In the event legal proceedings are brought or commenced to
enforce any of the terms ofthis Declaration against any owner or other person with an interest in any Lot, the
successful party in such action shall be enfitled [o receive and shall receive from the defaulting ownerany and
all damages permitted by law, plus a reasonable sum as attorneys, fees and costs, [o be fixed by the court in
the same action. Grantor, for so long as Grantor owns any portion of the Property, and thereafter a majority
of the owners of the other lots reflected on the Final Plat, as may be hereafter amended or modified (with
such majority m interest being determined based on the respective square footage of such lots) shall have the
right to commence any action to enforce the obligations of the Fee Owner under this Declaration.
1 I. No re -Plat Subdivision or RaZonine of Lot Permitted. Grantor reserves the right to final
plm, re -plat, and/or subdivide al] or any portion of any Lot so long as Grantor is the Fee Owner of such Lot
Following initial acquisition of a Lot from the Grantor, no Fee Owrter of such Lot shall be permitted [o re -
plat, subdivide or re -zone any portion of such Lot during the term this Declaration is in effect without the
without written consent of the Grantor for so long as the Grantor owns an interest in any portion of the
Property, and thereafter a Majority of the Owners of the Property reflected on the Final Plats) of the
Property, as may be hereafteramended or modified. Any such requested consent may be withheld in the sole
and absolute of the Grantor or other Lot Owners as the case may be.
10
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12. Modifications. All negotiations and oral agreements acceptable to the Grantor have been
incorporated herein. Except as otherwise provided herein, this Declaration may not be mod�ed in any
respect whatsoever or rescinded, in whole or in par, except h[ writing executed by the Grantoq for so long as
the Grantor owns an interest in any ofthe Property and thenthereafter by a Majority in Interest ofthe Owners
ofthe Properly, based uponthe respective square footage ofeach Lot located w@hinthe Prope[Ty compazed to
the total square footage of the Property.
13. Common Maintenance Exoenses. The Fee Owners of the Lofs and each owner of a Lot or
portion of the Property described in Exhibit "A-1"shall be responsible for thew respective pro mta share of
the costs of any common lawn maintenance, imgation and landscaping, utilities and maintenance of any
development sign or sign easement area designated on a Lot or off of [he Property for the benefit of the
Owners or any portion of each Lot shown on the FinalPlatalong its boundary adjoining Chenal Valley Drive
and/or Rahling Road between the sidewalk and right of way ofsuch road to the extent an Owner fails to do so
as requred under Paragraph 4 above, the installation, maintenance and utility costs of any entrance or sheetor
parking lot lighting along Chenal Valley Driveand/or Rahling Road orthe in[emal Common Access Drives
approved by the Owners, if any, including the reasonable administrative fees for overseeing the handling of
the common areas, if any, and obligations hereunder by a third party agent, and such other common expenses
approved by the Majoriy in Interest of Owners. The "Pro Ram Share" for each Lot shall be detemrined based
upon [he respective square footage of such Lot divided by the total square footage of all Lots described on
Exhibit "A-1". The Owners representing a Majority in Interest of the Property described on Exhibit "A -I ",
shall approve any such costs, which approval shall be obtained prior to incurring such costs. A vote of not
less than a Majority in Inthrest ofthe Owners shall be required m approve any such actions. Such costs and
assessments against any Lot may be enforced against the Fee Owner of such Lot in accordance with
Paaagraph 6 above and shall constitute a lien on such Lot if unpaid within thirty (30) days of the date of
invoice. The Owners shall be billed for such charges, if any, not less than annually (or as otherwise
approved by a Majority in Interest of the Owners) and shall pay all invoices within thirty (30) days ofreceipG
14. Indemnification and Insurance
(a) Indemnification. To the extent of such Fee Owner's negligence, or willful or
intenfional act, each Owner hereby indemnifies, defends and saves the other owners and tenants of the
Properly harmless from any and all Lability, damage, expense, causes of action, suits, claims orjudgments
arising from personal injury, death, or property damage occurring on or from its own hact, except ifcaused by
the act or negligence of the other Owner or tenant or invitee of the other Owner's Property.
(h) Insurance. Fee Owneragrees to procure or cause to be procured and maintained in
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full force and effect throughout the term�of this Declaration general public liability insurance and property
damage insurance against claims forpersonal injury, death orproperty damage occurring upon, in orabom its
property, Fee Owner's insurance to afford protection to the limit of no[ less than $1,000,000.00 for injury or
death of a single person, and to the aggregate limit of not less than $2,OOQ000.00 forany one occurrence, and
to the limit of not less than $I,000,000.00 for property damage. In the event that inflation renders the
foregoing insurance limits commercially unreasonable, thenFce Ownershall catty insurance in commeroially
reasonable amounts. At al( fuses during the term of this Agreemenk Fee Owner shall or shall cause the
improvements on its property to be insured against loss or damage by fire and other perils and events as may
be insured againstunderthe broad forth ofUniform Extended Coverage Clause in effect from time to time N
the state ofArkansas, with such insurance to be for the full replacement value of the insured improvements.
(c) Waiver of Certain Riehts. F�Ownerhereby releases all other Owners for itselfand
its property insurer from and against any and all claims, demands, liabilities or obligations whatsoever for
damage to each other's properly or loss of rents or profits ofthe other resulting from or in any way connected
with any fire or other casualty whether or not such fne or other casualty shall have been caused by the
negligence orthe contributory negligence ofthe Owner beingreleased or by any agent, associate oremployee
ofthe party being released, this release beingto the extent that such damage or loss is covered by the properly
insurance which the releasing Owner is obligated hereunder to carry, or, ifthe releasing Owner is not carrying
that insurance, then to the extent such damage or loss would be covered if the releasing party were carrying
that insurance.
(d) Contractor's Insurance. Prior to commencing any construction activities within
the Lot owned by such Owner, the Owner thereof shall obtain or require its contrncmr to obtain and
thereafter maintain so long as such construction activity is occurring, a[ least the following minimum
insumnce coverage:
() Workers'compensation-statutory limits;
(ii) Employer's Practices liability ("EPLI") -One Hundred Thousand Dollars
(iii) Comprehensive General and Comprehensive Auto Liability as follows:
(I) "Combined Single Limit" (covering bodily injury liabiliy, death and properly damage) in any one
occurrence of not less than One Million Dollars ($1,000,000) and in the aggegate of not less than Two
Million Dollars ($2,000,000); (2) Independent Contractors Liabiliy or Owner s Protective Liability with the
same coverage as set forth in (1) above; (3) Products/Completed Operations Coverage which shall be kept in
effect for two (2) years after completion ofwork; (4) "XCU" Hazard Endorsement, if applicable; (5) "Broad
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2023013145 Page 13 of 19
Form" Property Damage Endorsements; (6) "Personal Injury" Endorsements; ('/) "Blanket Contmcmal
LiabiliTy Endorsement. Provided,however, the Majority-in-Lnerest ofthe Owners may increase the coverage
amounts required hereunder.
If the construction activity involves the use of the Common Access Drives or another Owner's Lot,
then the Owners of such Lots shall be named as addifional insureds and such insurance shall provide that the
same shall not be canceled without a[ least thirty (30) days prior written notice to the named insured.
15. Simaee.
(a) Lot Owner's Sienaee. Each Owner shall have the right to maintain such signs on the
interior of buildings located on its Lot as it desnes, whether or not such signs aze visible from the exterior. As
permitted by applicable governmental regulations and the Chenal Valley Covenants, each Owner shall have
theright to erect, maintain and replace freestanding signs orsigns on the exterior ofthe buildings ("Building
Signage") located on its Lot; provided, such Building Signage shall be constructed of individual back lit or
front lit letters of not less than 3" in depth applied to a Signage raceway mounted by brackets secured to the
blocking onthe fascia ofthe Building. No letters shall be directly applied to fascia Raceway and letter shall
be fabricated of.063 aluminum sheet metal, all seams welded, primed with zinc chromate, and have a finish
coat of amomotive acrylic enamel or equivalent (i.e. polyurethane). Letters may be channelume Type with
plexiglass cover. The Signage shall be facing outward and shall not protmde more than two (2) feet from the
surface thereof. No temporary standalone Signage shall be permitted on any Lot along Chenal Valley Drive,
Rahling Road or any internal Access Drivels) following the initial construction and occupancy of
improvements on such Lot, including but not limited to a prohibition on the placement of"For Lease^, "For
Sublease" or "For Sale' or other similar signs on any Lot
(b) Pr000sed Develoumen[Siens. The Granmr has reserved certain sign easement areas on
the Properly as shown on Exhibit "B" and easements required to run utilities m such sign easement area ([he
"Sign Easement Area's forthe installation ofone or more common developments signs forthe Property or all
orany portion ofthe owners ofProperty within Tract 6. Iferected and such sign is to include individual signs
identifying the Lot Owner's (or such Lot Owner's tenant's) business located on the Lots (including any other
lots located on Tract 6 participating in the common development signs), each Lot Owner shall have [fie right
m locate a sign panel on the common development signs) (including any other common development signs
located off of the Property on property owned by owners of lots located in Tract 6 participating in the
common development signs) and each Lot Owner shall be responsible for the payment of apro-mta shaze of
the initial cost ofthe common sign and thereaRer [he maintenance costs shall be treated as a common expense
described in Paragraph 13 above or as set forth m the Chenal Valley Covenants. Each Lot Owner shall be
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2023013145 Page 14 0£ 19
responsible for the cost of their respective sign panels Located �on the sign. The sign area shall be allocated
pro -rats among the Lot Owners wvered by such sign based on square footage of each Lot and rounded [o size
of the neazest panel size. For example, if a Lo[ Owner's area was 9.3 % of the total area, and there were ] 0
panels (i.e., 10% of the sign area), the Lot Owner would get the rights to one panel. Similarly, a Lot Owner
with 22%ofthe total area, would have the right to two panels. The rights and obligations of each Lot Owner
participating in the development sign shall be deemed appurtenant to the Lot and shall fransfer and convey
with any changes in ownersfiip of the Lot after the sign has been erected.
16. Duration. Unless otherwise canceled or terminated, sll of the easements granted in [his
Dechuaticn shall continue in perpe[uiTy and all other rights and obligations hereof shall automatically and be
of no further force and effect ninety-nine (99) years after the date of filing hereof.
17. 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 ofthe Owners thatthis Declaration shall be strictly limited to and for the purposes herein expressed.
(b) Severabiliri. If any term or provision of this Declamtion or the application of it to
any person or circumstance shallto any extent be invalid and unenforceable, theremainder ofthis Declaration
or the application of such term or provision to persons or circumstances other than those as [o 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 [o the extent permitted by law.
(c) Govemine Law. This Declaration shall be construed and enforced in accordance
with, and governed by, the law of [he State of Arkansas.
(d) No Presumption. This Declaraton shall be interpreted and constmed only by the
contents hereof and there shall be no presumption or standard of conshuction in favor of or against any
Owner.
(e) Inurement. This Declazation 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
(t) OtherAereements. Nothing herein shall reshictanownerfrom imposing upon any
tenant of any Lot more restrictions and/or higher standards than set forth herein.
(g) Subdivision and zonine Ordinances. Notwithstanding any provision hereof to the
comrary, 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.
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2023013145 Page 15 of 19
(h) Entire Ageeement. This Declaration and the Chenal Valley Covenants constitute the
entire agreement regarding this subject matter between the Parties hereto. The Parties do not rely on any
statement, promise or representation notherein expressed, andthis Declaration, once executed, delivered and
filed, shall not be modified or altered in any respect except as provided herein.
(i) No Third Parlv Beneficiaries. No party, other than the Owners and Grantor shall
have any rights or benefits of this Dechva[ion.
IN WITNESS WHEREOF, this Declaration has been executed as of the date first above written.
GRANTOR:
CHENAL PROP/EfR�T,Y INV/ES//TJO/R,,S�(7V, LLC
�—
Leonard Boen, Manager
ACKNOWLEDGMENT
STATE OF ARKANSAS )
ss.
COUNTY OF PULASKI )
Onthis day, before me, allotary Public, duly wmmissioned, qualified and acting, within and forsaid
County and State, appeared in person the within named Leonard Boen, to me personally well known, who
stated that he was the Manager of CHENAL PROPERTY INVESTORS V, LLC, an Arkansas limited liability
company, and that he was duly authorized in his capacity to execute [he foregoing instrument for and in the
name and behalf of said limited liability company, and further stated and acknowledged [bathe had so signed,
executed and delivered said foregoing instrument forthe consideration, uses and purposes therein mentioned
and set forth.
IN TESTIMONY WHEREOF, I have hereunto setl� d official seal this �� day of
MM1GN , 2023.
Notary Public
My Commission Expires:
PRICE
SCGEARGNEE
IS
FECN8422fi6.2
2023013145 Page 16
Exhibit A-1
Legal Descriptions of Tract 6
A TRACT OF LAND INTHE Nl/2 N1YL SECTION 36, T-2-N R-14-W, PULASKI COUNTY,
ARKANSAS MORE PARTICULARLY DESCRIBED AS:
BEGINNING AT THE SOUTHEAST CORNER OF TRACT 7A, CHENAL VALLEY, AN
ADDITION TO THE CITY OF LITTLE ROCK, ARKANSAS, SAID POINT BEING ON THE
WESTERLY RIGHT-OF-WAY LINE OF CHENAL VALLEY DRNE; THENCE
SOUTFLEASTERLY ALONG SAID WESTERLY RIGHT-OF-WAYLINE, BEING THE ARC OF
A 1176.38 FT. RADNS CURVE TO THE LEFT, A CHORD BEARING AND DISTANCE OF
520°35'32"E, 274.46 FT.; THENCE S27°1T34"E AND CONTINUING ALONG SAID
WESTERLY RIGHT-OF-WAY LINE, 206.30 FT.; THENCE S21 °4T33"E AND CONTINUING
ALONG SAID WESTERLY RIGHT-OF-WAY LINE, 125.20 FT.; THENCE S27°1T34"E AND
CONTINUING ALONG SAID WESTERLY RIGHT-OF-WAY LINE, 42.07 FT.; THENCE
SOUTHWESTERLY AND CONTINUING ALONG SAID WESTERLYRIGHT-0E-WAY LINE,
BEING THE ARC OF A 58.00 FT. RADNS CURVE TO THE RIGHT, HAVING A CHORD
BEARING AND DISTANCE OF S18°11'44"W, 82.72 FT. TO A POINT ON THE NORTHERLY
RIGHT-OF-WAY LINE OF RAHLING ROAD; THENCE S63°41'02"W ALONG SAID
NORTHERLYRIGHT-OF-WAY LINE, 45.11 FT.; THENCE S80°06'44"WAND CONTINUING
ALONG SAID NORTHERLY RIGHT-OF-WAY LINE, 622.82 FT.; THENCE N09°53'16"W,
10.00 FT.; THENCE S80°06'44"W, 299.89 FT. TO THE SOUTHEAST CORNER OF LOT 7,
TRACT 1, CHENAL VALLEY ADDITION TO THE CITY OF LTTTLE ROCK; THENCE
N09°48'S7"W, ALONG THE EAST LINE OF SAID LOT 7, 325.00 FT.; THENCE N15°34'26"W,
295.95 FT. TO THE SOUTH LINE OF SAID TRACT 7 A, CHENAL VALLEY; THENCE
N74°35'01"E ALONG THE SOUTH LINE OF SAID TRACT 7A, 886.87 FT. TO THE POINT OF
BEGINNING, CONTAINING 14.4809 ACRES MORE OR LESS.
FEC/98aR662
--
2023013145 Page 1'/ o£ 19
Exhibit A-2
Copy of Preliwinary Plaz
s_:.s� sa
.,.� �•,
ti �
17
FECN842266.2
2023013145 Page 18 of 19
Exhibit B
Proposed Sign Easement Areas
� won. °�� � \\
� \
\ \
\� "� � \
CHORO=520'35'32"E-2)4.46' Cip
ARC ULENCRI-285.09' �;b. ", \. lT"JI\
�, ®\ � `�
LOT 4 \ �
2.76 ACRES ��
\\Y
�..�.
sxa ma me „�\`„ .
o
/ / �. / / / �.\ �.\\�P:
SIGN EASEMENT 1
PART OF THE NI/2 NI/2 SECTION 36, T-2-N R-14-W, PULASKI COUNTY, ARKANSAS MORE
PARTICULARLY DESCRIBED AS:
COMMENCING AT THE SOUTHEAST CORNER OF TRACT 7A, CHENAL VALLEY, AN ADDTTION
TO THE CITY OF LITTLE ROCK, ARKANSA$ AS SHOWN ON PLAT FII,ED AS INSTRUMENT
NUMBER 97-10852 IN THE RECORDS OF PULASKI COUNTY, SAID POINT BEING ON THE
WESTERLY RIGHT-OF-WAY LINE OF CHENAL VALLEY DRIVE; THINCE SOUTHEASTERLY
ALONG SAID WESTERLYRIGHT-OF-WAY LINE ALONG THE ARC OF A 1176.38 FOOT RADNS
CURVE TO THE LEFT, HAVING A CHORD BEARING AND DISTANCE OF S20°35'32"E, 274.46 FEET
AND AN ARC LENGTH OF 275.09 FEET; THENCE CONTINUE ALONG SAID WESTERLY RIGHT-
OF-WAY LINE S27°17'21"E, A DISTANCE OF 4.14 FEET; THENCE LEAVING SAID WESTERLY
RIGHT-OF-WAY LINE S62°42'39"W, A DISTANCE OF 19.43 FEET TO THE POINT OF BEGINNING;
THENCE CONTINUE S62°42'39"W, A DISTANCE OF 20.00 FEET; THENCE N27°1T21"W, A
DISTANCE OF 5.00 FEET; THENCE N62°42'39"E, A DISTANCE OF 20.00 FEET; THINCE
S27°17'Zl "E, A DISTANCE OF 5.00 FEET TO THE POINT OF BEGINNING.
18
rEcros4zz66.z
2023013195 Page 19 of 19
1 1
1 11 1 1
1 1 1 a 1
1 1 LOT 2 1 s 11
11 $' 1 231 ACRES 11 � "� 1
1 '. a 11 1
__.` 1 __.. � 1
r .t�'i{•
.�,m°1 vs Ip6 u rl�,� � —' _ _ � ;suos c.�w_6rea .-� � �s
SIGN EASEMENT 2
PART OF THE Nl/2 N]/2 SECTION 36, T-2-N R-14W, PULASKI COUNTY, ARKANSAS MORE
PARTICULARLY DESCRIBED AS:
COMMENCING AT THE SOUTHEAST CORNER OF TRACT 7A, CHENAL VALLEY, AN ADDITION
TO THE CITY OF LITTLE ROCK, ARKANSAS, AS SHOWN ON PLAT FILED AS INSTRUMENT
NUMBER 97-10852 IN THE RECORDS OF PULASKI COUNTY, SAID POINT BEING ON THE
WESTERLY RIGHT-OF-WAY LINE OF CHENAL VALLEY DRIVE; THENCE SOUTHEASTERLY
ALONG SAID WESTERLY RIGHT-OF-WAY LINE ALONG THE ARC OF A 1176.38 FOOT RADIUS
CURVE TO TfID LEFT, HAVING A CHORDBEARING AND DISTANCE OF S20°35'32"$ 274.46 FEET
AND AN ARC LENGTH OF 275.09 FEET; THENCE CONTINUE ALONG SAID WESTERLY RIGHT-
OF-WAY LINE 527°1T21 "E, A DISTANCE OF 206.31 FEET; THENCE CONTINUING ALONG SAID
WESTERLY RIGHT-OF-WAY LINE S21°4T33"E, A DISTANCE OF 125.20 FEET; THENCE
CONTINUING ALONG SAID WESTERLYRIGHT-OF-WAY LINE S27°1T34"E, A DISTANCEOF42.07
FEET; THENCE CONTINUING ALONG SAID WESTERLY RIGHT-OF-WAY LINEALONG THE ARC
OF A 58.00 FOOTRADIUS CURVE TO THERIGHT, HAVING A CHORD BEARING AND DISTANCE
OF S18°11'44"W, 82.72 FEET AND AN ARC LENGTH OF 92.09 FEET TO A POINT ON THE NORTH
RIGHT-OF-WAYLINE OFRAHLING ROAD; THENCEALONG SAIDNORTHRIGHT-0E-WAY LINE
S63°41'02"W, A DISTANCE OF 45.11 FEET; THENCE CONTINUING ALONG SAID NORTHRIGHT-
OF-WAY LINE S80°06'44"W, A DISTANCE OF 510.35 FEET; THENCE LEAVING SAID NORTH
RIGHT-OF-WAY LIIJEN09°53'16"W, A DISTANCE OF 12.26 FEETTO Ti-ffi POINTOF BEGINNING;
THENCE S80°I6'46"W, A DISTANCE OF 5.00 FEET; THENCEN09°43'14"W, A DISTANCE OF 20.00
FEET; THENCE N80°16'46"E, A DISTANCE OF 5.00 FEET; THENCE S09°43'14"E, A DISTANCE OF
20.00 FEET TO THE POINT OF BEGINNING.
19
FEG9642266.2