Loading...
HomeMy WebLinkAboutS-0285-PPP ApplicationCIVIL ENGINEERING DIVISION FINAL PLAT FILING APPROVALS FINAL PLAT NAME: THE RANCH LOT 2 OF TRACT D INSPECTOR REPORT I have made a final inspection of the improvements and find that: All improvements shown on construction drawings for the development are constructed and in conformance with City requirements/standards. Certain Improvements remain uncompleted as follows: 6 � ENGINEER REPORT Engineering Specialist I have reviewed the file for this matter and find that: no t 9AA s }rem ; AHTP b , r ;ind tT,> YA- The maintenance bond has teen submitted and the proper type and amount. ZAll -nancial assurance for the uncompleted improvements listed above has been received. other reauirements f at plat approval have been satisfied. Civil Engineer I/II SURVEYOR'S REPORT I have reviewed the plat and find that: v o{� All requir for final plat approval have been satisfied. ° Surveyor MANAGER APPROVAL All Civil Engineering re uirements for filing this final plat have been satisfied. 2 •/�J� Design Review Engineer/Civil Engineering r Manager October 2004 20050.36105 04/28/2005 11:41:30 AN Filed 8 Recorded in DECLARATION OF RESTRICTIVE COVENANTS A EPI�OPSURANCE PULA5KI COUNTY H.-30q THE RANCH CIRCUIT/COUNTY CLERK COMMERCIAL TRACT This Declaration of Restrictive Covenants and Bill of Assurance is made this � day of 2005, by FCC Tract D Partnership, an Arkansas general partnership, hereinafter referred to as "Allottor". ARTICLE I. Recitals 1.1 The Allottor is the owner of the real property State of Arkansas, more particularly described as follows: of Pulaski, PART OF THE SE 1/4 OF SECTION 14, T-2-N, R-14-W, PULASKI COUNTY, ARKANSAS LYING NORTH OF ARKANSAS STATE HIGHWAY #10, MORE PARTICULARLY DESCRIBED AS: BEGINNING AT THE NORTHEAST CORNER OF TRACT D-1, THE RANCH, AN ADDITION TO THE CITY OF LITTLE ROCK, ARKANSAS; THENCE S66056'58"E, 266.91 FT.; THENCE S20°36'04"W, 318.55 FT. TO A POINT ON THE NORTH RIGHT-OF-WAY LINE OF ARKANSAS STATE HIGHWAY #10; THENCE N79°31'30"W ALONG SAID NORTH RIGHT-OF-WAY LINE, 71.98 FT.; THENCE N71°57'08"W CONTINUING ALONG SAID NORTH RIGHT-OF- WAY LINE, 179.32 FT. TO A POINT ON THE SOUTHERLY EXTENSION OF THE EAST LINE OF SAID TRACT D-1, THE RANCH; THENCE N17°52'53"E ALONG SAID EAST LINE, 351.00 FT. TO THE POINT OF BEGINNING, CONTAINING 87,327 SQ. FT. OR 2.0048 ACRES MORE OR LESS. 1.2 The Allottor has caused the land just above described in Paragraph 1.1 to be surveyed and a plat (hereinafter referred to as the "Plat") made thereof by Paul M. White, a Professional Land Surveyor, License Number 1281, and Timothy E. Daters, a Professional Engineer, License Number 5033, said plat bearing the signature of the said Surveyor and Engineer and being of record in the office of the Circuit Clerk and Ex-Officio Recorder of Pulaski County, 1 Arkansas, in Plat and the Allottor does hereby make this Declaration of Restrictive Covenants and Bill of Assurance. 1.3 Allottor warrants and represents that it has laid off, platted and subdivided, and does hereby lay off, plat and subdivide the land just above described in Paragraph 1.1, in accordance with the aforesaid Plat. The lands embraced in said Plat shall be forever known as: Lot 2, Tract D, The Ranch, an Addition to the City of Little Rock, Pulaski County, Arkansas; as shown on the Plat, and any and every deed of conveyance of any Lot aforesaid describing the same by the lot number shown on said Plat shall always be deemed a sufficient description thereof. Moreover wherever the term "Lot" is used herein same shall mean the Lot shown on the Plat and described herein unless another meaning is expressly stated. Likewise wherever the term "Addition" is used herein same means The Ranch, an Addition to the City of Little Rock, Pulaski County, Arkansas. 1.4 (a) There are strips of ground shown and dimensioned on said Plat marked as "Access and Utility Easement" which the Allottor hereby reserves to itself, its successors and assigns, and grants to the subsequent Owners and to the utility providers, as non-exclusive easements for ingress and egress appurtenant to the Lot shown on the Plat and to construct, install, bury, maintain, repair, reinstall and erect access driveways and utility services. (b) In addition to said street right-of-way, there is a strip of ground shown and dimensioned on said Plat marked "Landscape Buffer, Wall, Fence and Utility Easement", which the Allottor hereby reserves for the use and benefit of the Allottor, its successors and assigns, and grants to utility providers, as a non-exclusive easement for the purpose of constructing, erecting, installing, repairing, reinstalling and maintaining utilities and for the purpose of constructing, 2 erecting, installing, repairing, reinstalling and maintaining lighted and irrigated landscaped areas and an entrance wall and fence; provided, however, the Allottor shall assign this easement to Ranch Properties, Inc., an Arkansas corporation and its successors and assigns, and Ranch Properties, Inc. and its successor or assign shall thereafter maintain and keep said lighted and irrigated landscaped areas and an entrance wall and fence in good repair and all cost associated therewith shall be charged to and paid out of the Common Maintenance Property Fund, as hereinafter prescribed. (c) Accordingly, all persons, natural and artificial, who become owners of the Lot shown on the Plat, shall take their titles subject to the streets and easements set forth above as shown on the Plat. The filing of this Declaration of Restrictive Covenants and Bill of Assurance and Plat for record in the office of the Circuit Clerk and Ex-Officio Recorder of Pulaski County shall be a valid and complete delivery and dedication of the street rights -of -way shown on the said Plat. 1.5 The Lot in the Addition above described shall be sold or conveyed by the Allottor and shall be purchased, acquired, owned, possessed, held and occupied subject to the covenants, restrictions and provisions set forth above and as follows, each of which and all of which shall be covenants running with the said lands above described, and shall be binding upon all owners and their respective heirs, successors and assigns, in order to maintain the lands above described as desirable property, to wit: ARTICLE II. Definition; 2.1 Definition of Terms: (a) "Allottor" shall mean FCC TRACT D PARTNERSHIP, an Arkansas general partnership, its successors and assigns. 3 (b) "Owner" shall mean and refer to the record owner, whether one or more persons or entities, of the fee simple title to any of the Lots, but excluding those having any interest merely as security for the performance or payment of an obligation. (c) "Improvements" shall mean and include but not be limited to buildings, parldng areas, loading areas, fences, walls, hedges, landscaping, mass plantings, poles, signs and any structures of any type or kind. (d) "Common Maintenance Property Zone" shall mean and be the following described real property, to -wit: See attached Exhibit "A" which contains the legal description of all Parcels within the Common Maintenance Property Zone. The area of these Parcels is approximately 4,776,493 square feet or 109.6532 acres. Accordingly for the purpose of calculating the obligation of the Owner or Owners of the Lots shown on the Plat to pay the annual mauiteiiance charge as prescribed in Paragraph 6.13 hereof the Common Maintenance Property Zone shall be deemed to mean and refer to not less than the land more particularly described on Exhibit "A" and containing 4,776,493 square feet or 109.6532 acres, more or less, notwithstanding the number of square feet or acres set forth in any other instrument currently of record. (e) "Parcel" any piece of real property within the Common Maintenance Property Zone, whether platted or unplatted. ARTICLE III. 3.1 The Lot shown on the Plat and described herein are hereby made subject to the terms, provisions, conditions, easements, covenants, restrictions and reservations set forth in the Plat and herein, all of which shall be deemed to be covenants that run with the Lot and each and every part thereof to insure proper use and appropriate development and improvement of the Lot and to promote construction of attractively designed permanent buildings, structures and 4 improvements appropriately located on the Lot in order to achieve harmonious appearance and function. Accordingly, the Owner of the Lot shown on the Plat and any person claiming by, through or under that Owner, including but not limited to, any tenant shall by virtue of the deed conveying said Lot shall be deemed to have agreed to fully abide by and comply with the terms, provisions, conditions, easements, covenants, restrictions and reservations set forth in the Plat and herein as covenants that run with the Lot. ARTICLE W. Easements 4.1 A permanent easement or easements for drainage and for the installation, maintenance, repair and replacement of utility services, storm and sanitary sewers and drainage are created, accepted and reserved on, over, across and through to the Lot as shown on the Plat filed herewith. No structures or buildings shall be built, constructed, erected, installed, placed or maintained within the area of easements, except that landscaping, irrigation systems, fences, parking lots, lighting, signage and driveways maybe constructed and maintained within and over the area of such easements so long as the same do not interfere with installation, maintenance, repair and replacement of any utility, storm, sanitary sewer, or drainage services and no utility provider will be liable for the destruction of same in the installation, maintenance, repair or replacement of any utility or drainage services located within the area of such easement. ARTICLE V. T anrd T Tca 5.1 The Lot shown on the Plat and described herein shall be developed, used, or occupied in compliance with the applicable zoning and subdivision ordinances, rules and regulations of the City of Little Rock in effect from time to time 5 5.2 The Lot shown on the Plat shall be used solely for (i) banking or financial institutions, (ii) sit down restaurants, or (iii) general office purposes, unless otherwise consented to in writing by the Allotor, in its reasonable discretion, from time to time, and any buildings, structures, improvements or facilities constructed, erected, placed, altered or permitted to remain thereon shall be subject to the restrictions set forth in Article VI below. Notwithstanding any contrary provisions of these Declarations, the provisions of this Section 5.2 shall expire and be of no effect twenty (20) years after the date of recording of these Declarations, and the effectiveness of such restrictions shall not be extended pursuant to the provisions of Article VII of these Declarations. 5.3 No Lot shown on the Plat and described herein or any buildings, structures, improvements and facilities constructed, erected, placed, altered, permitted to remain or situated thereon shall be sold, conveyed, held, owned, developed, used, leased, rented and occupied for any of the following purposes or uses, to -wit: nature. (i) Any industrial production, manufacturing or storage use of any kind or (ii) Undesirable entertainment or recreational facilities. As used herein, "undesirable entertainment or recreational facility" includes, a skating rink, massage parlor, discotheque, dance hall, teen club, night club, bar or tavern, flea market, head shop, pornographic or "adult" store, bowling alley, or tattoo or body piercing parlor or establishment; provided, however such restriction shall not prohibit any discotheque, night club, bar or tavern located completely within any restaurant constructed on the Lot and operated incidental to the principal use of the Lot. (iii) Any use which creates a nuisance or materially increases noise or T the emission of dust, odor (but not including restaurants which are otherwise permitted), smoke, gases, does not preserve the "sprinkler" fire insurance rates, or increases explosion or radioactive hazards on adjacent lots. (iv) Assembling, manufacturing, distilling, refining, smelting, agriculture, or moving operation; (v) Any mobile home or trailer court, labor camp, junk yard, stock yard, animal raising or veterinary hospital, except the temporary use of construction trailers during the period of construction, reconstruction or maintenance shall also be permitted; refuse; (vi) Any drilling for, in or removal of subsurface substances; (vii) Any dumping, disposing, incinerating or reduction of garbage or (viii) Any fire sale, going out of business sale, bankruptcy sale (unless pursuant to a court order) or auction hours operation; (ix) Any outdoor circuses or commercial laundry plants; (x) Any "second hand" store, Army, Navy or government "surplus" store, except for upscale -type stores; (xi) Any stand alone convenience store, liquor store, tobacco store, gas station or similar business; (xii) Any automotive or truck repair or parts store, car wash or detail shop not associated with and located within a new automobile or truck dealership; (xiii) Any dry cleaners; (xiv) Any fast food restaurant; or (xv) by any pawnbroker as "pawnbroker" is defined by the laws of the 7 State of Arkansas from time to time. The conditions and restrictions imposed under this Article V shall be a servitude upon the Property and shall be binding upon any person acquiring an interest in any part of the Lot shown on the Plat and described herein, whether in fee, by lease or otherwise. The foregoing restrictions contained in this Section 5.3 may not be amended without written consent of the Developer. ARTICLE VI. Architectural Control and Regulation of Improvements 6.1 (a) Purpose. The Allottor is desirous of providing and maintain g harmony of external design and location in relation to the surrounding structures and topography and, for this purpose, herein delegates, appoints, designates and assigns to Ranch Properties, Inc., an Arkansas corporation, and its successors and assigns, hereinafter referred to as "Ranch Properties", which shall have and discharge the rights, duties, obligations and responsibilities set forth in this Article VI. (b) Approval. No building, structure, facility or other improvement shall be erected, placed, altered, reerected, permitted to remain or situated on, under or upon the Lot shown on the Plat until the detailed building plans and specifications therefore as prescribed herein, including but not limited to, exterior color scheme and plot plans showing the location and facing of such building with respect to existing topography, adjoining streets and finished ground elevations, collectively herein referred to as the "Plans and Specifications", have been first submitted as herein required to and approved by Ranch Properties as herein required. The Plans and Specifications required to be submitted pursuant to this Paragraph 6.1 shall meet the submission requirements otherwise herein prescribed, including that set forth in Paragraph 6.3, and be submitted to Ranch Properties at least five (5) days prior to the date approval is requested. Ranch Properties shall approve or disprove the Plans and Specifications submitted to it within five (5) calendar days after receipt thereof by the Owner. Ranch Properties' approval shall not be unreasonably withheld, delayed or charged for, provided that the Plans and Specifications submitted by the Owner are compatible with existing office/commercial developments in the Addition and otherwise comply with the terms and provisions of this Declaration. Ranch Properties shall set forth in writing any objections to the Plans and Specifications, as submitted, which must be revised in order for the Owner to obtain approval thereof. The failure of Ranch Properties to deliver its written objections to the Plans and Specifications, as submitted to it, to the Owner within the five (5) calendar day period shall constitute Ranch Properties' approval of the Plans and Specifications as submitted. No building, structure, facility or other improvement shall be erected, placed, altered, reerected, permitted to remain or situated on, under or upon the Lot shown on the Plat, except such as conform in substantially all respects to the Plans and Specifications approved by Ranch Properties. 6.2 Liabilit The granting of any approval, permit or authorization by Ranch Properties shall be final and binding. Neither the Allottor nor Ranch Properties shall incur any liability to any person, natural or artificial, by reason of any action, failure to act, approval, disapproval, or failure to approve or disapprove, with regard to any request hereunder; provided that any disapproval, failure to approve or failure to act shall be in good faith. 6.3 Submission Re ements. (a) Any submission to Ranch Properties for approval of any proposed construction on the Lot shown on the Plat (the term "proposed construction" shall include, but shall not be limited E to, new construction or reconstruction of a building, structure or other improvement, remodeling, adding to or modifying any existing building, structure or other improvement, installation of a fence or wall, construction or remodeling of outbuildings or other accessory structures, installation of any sign, and construction of driveways) shall include: (1) A site plan, to scale, indicating the location of all proposed construction of buildings, structures and improvements, including, without limitation, structures, trash disposal, parking areas, storage and maintenance areas, fencing, drainage and traffic circulation; (2) Landscape plans, to scale, indicating site topography elevations of walks, drives and building entries, fencing location, site of fencing and material thereof, and any other pertinent site treatment. The landscape plans and the grading plan showing site topography may be submitted as separate plans. (3) Building elevations, to scale, indicating all elevations of proposed structures with specification of building materials, fences and color -scheme; and (4) Sign plan, indicating design, location and details of all signs which will be visible from the exterior of any building. (b) Approval of any proposed construction by Ranch Properties will not relieve any Owner of the obligation to comply with all laws, ordinances, regulations or rules of any governmental body, nor can any Owner rely upon such approval as an indication of such compliance. In no event will approval of such proposed construction by Ranch Properties create any liability to the Owner or to any third parry who may seek to rely thereon. 6.4 Setbacks. No building shall be located on the Lot shown on the Plat nearer to the front, side, interior or rear lot lines than the minimum building set back lines shown on the Plat. The minimum building set back lines are as follows: 10 (a) Front or side yards abutting Cantrell Road - all principal and accessory buildings or structures are required to have a minimum 100 foot building setback from the property line abutting, Cantrell Road. (b) Front or side yards abutting Chenonceau Boulevard, Ranch Boulevard and Ranch Drive - all principal and accessory buildings or structures are required to have a minimum 50 foot building setback from the property line abutting Chenonceau Boulevard. 25 feet. (c) Side and rear yards - side and rear yard building set back line shall not be less than 6.5 Sidewalks. Sidewalks shall be installed by the Owner along abuLting streets as may be required by the City of Little Rock. 6.6 Subdividing. No Lot shall be further subdivided without the prior written consent of Ranch Properties and the City of Little Rock first having been obtained. 6.7 Building Exteriors. The exterior of all buildings and improvements on the Lot shown on the Plat shall comply with the following: (a) Exterior wall elevations of buildings must include at least 40 % content of Acme Brick Plaza Heights Smooth, Cardinal Red Handcraft, Williamsburg or equivalent, unless otherwise approved by Ranch Properties, (b) Roofs shall be of a design and in a material approved by Ranch Properties, (c) Roof -mounted mechanical equipment which is visible from the ground is to be screened and painted to match the exterior material of the building, (d) Gutters and downspouts are to be painted to match the surface to which attached, (e) Vents, louvers, exposed flashing and service doors are to be painted consistent with 11 the exterior material of the building. 6.8 Screening. All areas on the Lot shown on the Plat used for loading, service access, ground -level mechanical equipment, transformers and other appurtenant items of poor visual quality, and that are visible from contiguous Lots or streets, are to be screened by the use of the same material as the building exterior. In the case of certain low-level items, such as transformers, Ranch Properties may approve the substitution of dense, mature landscape materials. 6.9 Signs. (a) ground signs will be constructed of Acme Brick Plaza Heights Smooth, Cardinal Red Handcraft, Williamsburg or equivalent, pre -cast concrete, or other material approved by Ranch Properties. All letters are to have finish directly applied, (b) ground signs will be constructed and installed in compliance with all applicable City of Little Rock, State of Arkansas and Arkansas State Highway Department rules, regulations, codes and requirements, and (c) the location, size and design of temporary signs are subject to the prior approval of Ranch Properties, not to be unreasonably withheld. 6.10 Driveways and Parking. (a) the location of driveways accessing Ranch Boulevard, Ranch Drive and Chenonceau Boulevard requires the prior approval of Ranch Properties, (b) no parking is permitted on any public streets in The Ranch, and (c) all parking areas and parking lots adjacent to landscaped areas shall have concrete upright curbs. 6.11 Light. Exterior lighting on the Property shall comply with the following: 12 (a) Parking Lot: (1) Type: Pole -mounted Sterner Diplomat 25 foot high pressure sodium, or equivalent approved by Ranch Properties. (2) Height: Not to exceed twenty-five feet overall. (3) Finish: Dark bronze anodized finish for pole and fixture, or otherwise consistent with the project's overall sign scheme. (b) Walkways: (1) Type: Sterner 8" round bollard light or equivalent. (2) Finish: Dark bronze anodized finish, or otherwise consistent with the project's overall sign scheme. (c) Lighting to highlight building shall be at ground level with dark bronze anodized finish for fixtures. (d) Security lighting fixtures are limited to use for lighting loading or similar service areas and shall have dark bronze anodized shielding. (e) All exterior lighting shall be shielded and confined within the site boundaries. (f) Ranch Properties may approve alternate lighting plans which will accomplish the intent of the requirements. Such alternate plans shall be submitted in written form with supporting details and if approved by Ranch Properties such approval will be in writing. 6.12 Landscaping. (a) Owner will be responsible for the design, development and maintenance of the landscape on the Property and contiguous planting areas within various street right-of-ways and public property to the face of curb. Dead or extensively damaged trees, ground cover or shrubs shall be identically replaced within thirty (30) days after the damage occurs. 13 Replacement may be made at a later date, with Ranch Properties's approval, if necessary due to seasonal conditions. (b) Cantrell Road: (1) The front or side yard abutting Cantrell Road shall have a landscaped buffer averaging a minimum of 50 feet from the property line, which will be solid sodded with zoysia (Meyer Z-52) or other equivalent approved by Ranch Properties. The existing landscaping and white fence along Cantrell Road as well as the entrance wall and related improvements and facilities will be maintained by the Common Area Maintenance Fund and will not be removed or altered by the Owner without the written approval of Ranch Properties. (2) Willow Oak or other equivalent trees as approved by Ranch Properties will be planted at average 40-foot intervals as located by Ranch Properties. The trees shall either be transplanted from the area within two miles of the Property or shall be nursery grown, balled and burlaped with a minimum of 14-foot height, 3-inch caliper, have 8-foot clear below canopy, and have minimum 60" canopy spread. (c) Chenonceau Boulevard, Ranch Boulevard and Ranch Drive: (1) The front or side yard of the Property abutting Chenonceau Boulevard, Ranch Boulevard and Ranch Drive shall have a landscaped buffer averaging a minimum of 25 feet from the property line, which will be solid sodded with zoysia (Meyer Z-52) or other equivalent approved by Ranch Properties. (2) Willow Oak or other equivalent trees as approved Ranch Properties will be planted at average 40-foot intervals, as located by Ranch Properties along Ranch Boulevard and Chenonceau Boulevard. The trees shall either be transplanted from the area within two miles of the Property or shall be nursery grown, balled and burlaped with a minimum of 14- 14 foot height, 3-inch caliper, have 8-foot clear below canopy, and have minimum 60" canopy spread. (d) Parking Lots: (1) There shall be at least 40 square feet of landscape space and one shade tree or ornamental tree for every 10 parking spaces. Each interior landscape space shall contain a minimum of 80 square feet. (2) Permitted trees in parking areas shall include: Shade Trees: Willow Oak, Cypress, Water Oak, Red Maple or other equivalent approved by Ranch Properties. Ornamental Trees: Watermelon Red Crepe Myrtle, Bradford Pear, Multi -trunk Burford Holly, Treeform Yaupon or other equivalent approved by Ranch Properties. The balance of the landscaped areas in the parking lots shall be planted with solid sodded zoysia (Meyer Z-52) or other equivalent approved by Ranch Properties, ground cover or shrubs. (3) The minimum planting sizes are: Shade Trees (same as for right-of-way) Ornamental Trees - 8' to 10' Shrubs - 2 gallon Ground cover - 1 gallon (e) Side and Rear Yards: All side and rear yards shall be solid sodded with zoysia (Meyer Z-52) grass or other equivalent as approved by Ranch Properties. Willow Oak or equivalent trees approved by Ranch Properties shall be planted at an average of no more than 40-foot intervals as indicated by Ranch Properties. (f) Areas Surrounding Buildings: (1) There shall be a landscaped area around each building that is visible from contiguous Parcels or streets, which shall average a minimum of 10 feet. 15 (2) The minimum 10-foot landscaped area around each building that is visible from Cantrell Road, Chenonceau Boulevard and the north and west private access drives must include at least 50 % ratio of planting beds with shrubs and ground cover. All grass is to be zoysia (Meyer-52) or other equivalent as approved by Ranch Properties. (g) Irrigation on the Property: All landscaped areas are to be irrigated with an approved automatic sprinkler system. Impact heads will be utilized along the right-of-ways and will be spaced to provide complete coverage between the right-of-ways and will be spaced to provide complete coverage between the right-of-way line and the back of curb. The irrigation system will be designed and operated to prevent or minimize run-off and discharge or irrigation water onto roadways, driveways, adjacent properties and any area not under control of the Owner. 6.13 Maintenance of Areas in Public Rights of Wa . (a) The Owner of the Lot shown on the Plat shall pay to Ranch Properties or its assignee an annual maintenance charge, which shall be due and payable annually in advance on the first day of January in each year or as otherwise set by Ranch Properties from time to time. The first year fee shall be prorated on a daily basis from the date of closing through December 31 of that year. The maintenance fund (herein referred to as the "Common Maintenance Property Fund") will initially be established by Ranch Properties and will be used solely for improving (not initial development) and maintaining non -paved areas within the right of way of public streets and such other areas and easements as are designated on the Plat or herein to be reconstructed, repaired and maintained by the Common Maintenance Property Fund (the "Common Maintenance Areas") in the Common Maintenance Property Zone in such a manner as is reasonably deemed necessary by Ranch Properties in its discretion to maintain 16 the overall attractiveness of the Common Maintenance Property Zone, including but not limited to, maintaining attractive landscaping in the Common Maintenance Areas, including but not limited to, maintaining entranceways to the Common Maintenance Property Zone (including median areas, the white fence and the areas between the fence and Cantrell Road, curbing and other improvements), maintaining liability insurance premiums attributable to such Common Maintenance Areas, or for doing any other thing necessary in the reasonable opinion of Ranch Properties, for keeping the Common Maintenance Areas neat or in good order. The Owner of the Lot shown on the Plat shall mow and trim the green belt areas of the Lot within the public right-of-way (property between the curb and the property line), except for those areas of the Common Maintenance Area maintained with the Common Maintenance Property Fund. (b) The maintenance charge shall be computed based upon the ratio of the square foot area of each Lot shown on the Plat bears to the total square footage of the Common Maintenance Property Zone of approximately 4,776,493 square feet, notwithstanding the total - square foot area of the Common Maintenance Property Zone set forth in any other covenants or restrictions affecting the Property filed of record prior to the date of this Declaration. The payment by Owner at the beginning of each year shall be based upon an estimate by Ranch Properties and adjusted up or down at year end. The maintenance charge for such common maintenance shall not exceed $.02 (two cents) per square foot adjusted for inflation from December 31, 2000 as measured by the Consumer Price Index (meaning Consumer Price Index, All Urban Wage Earners and Clerical Workers, All Items applicable to Little Rock, Arkansas (1982-84 =100) published by the United States Department of Labor, Bureau of Labor Statistics, or a successor index thereto properly adjusted.) 17 (c) In the event that the Owner of the Lot shown on the Plat fails to maintain its Lot or that area of the public right-of-way that is its responsibility for maintenance, then Ranch Properties, following reasonable notice, may perform the necessary maintenance, and charge to that respective Owner the cost of such maintenance work which shall then be due and payable as an assessment as prescribed herein. This right of Ranch Properties shall be limited to the landscaping and exterior housekeeping and shall not extend to any maintenance of buildings. (d) The Owner of the Lot shown on the Plat by acceptance of a deed therefore, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to Ranch Properties any annual assessments or charges or special assessments levied by Ranch Properties pursuant to this Article VI from time to time and further covenants and agrees that each annual and special assessment, together with interest, costs and reasonable attorneys fees, shall be a charge and lien on the Lot and shall be a continuing lien upon the Lot against which each such assessment is made. Each such assessment, together with interest, cost, and reasonable attorneys fees, shall also be the personal obligation of the person or persons who was the Owner of the Lot at the time when the assessment fell due. Any assessment not paid within 30 days after the due date thereof as established and fixed by Ranch Properties shall bear interest from the due date at the maximum lawful rate and Ranch Properties may, upon such default bring an action at law against the Owner personally obligated to pay the same, or foreclose the lien of the assessment against the Lot, like foreclosure of a mortgage. The sale or transfer of any tract pursuant to any mortgage foreclosure or proceeding in lieu thereof, shall extinguish the lien of such assessments as to payments which became due prior to such sale or transfer. IN ARTICLE VII. Termination, Modification, Enforcement and AssipMents. 7.1 Term. The covenants, conditions, restrictions and reservations contained herein shall continue in full force and effect until January 1, 2025, and shall thereafter be renewed automatically from year to year unless and until terminated as provided in Paragraph 7.2 hereof. 7.2 Modification. (a) Notwithstanding any provision, restriction or covenant set forth herein to the contrary, the terms, conditions, covenants, provisions and restrictions set forth in Paragraph 2.1(d) or Paragraph 6.13 hereof may be amended, modified, extended, changed or canceled, in whole or in part, by a written instrument signed and aclmowledged solely by Ranch Properties; provided that, no such modification or amendment shall have the effect of increasing the Lot Owner's proportionate share of the maintenance charge for the Common Maintenance Area, nor shall any such modification or amendment have the effect of imposing any duty, obligation or servitude upon the Owner of the Lot, or the Lot, without such Owner's consent. (b) Alternatively, Owners, owing at least 51 % of the Lots in the Addition as then platted, may by a written instrument amend, modify, extend, change or cancel, in whole or in part, any and all of the terns, conditions, covenants, provisions and restrictions hereof; PROVIDED, HOWEVER, any such amendment, modification, extension, change or cancellation, in order to be effective and enforceable, must be approved and consented to in writing by Developer regardless of whether or not Developer owns any Lot in the Addition, such approval to be in the sole discretion of the Developer. 7.3 Right to Enforce. The restrictions and covenants and reservations herein set forth run with the land and are binding upon the Allottor, the Owners and all parties, persons and entities claiming title to or an estate in any part of the Lot shown on the Plat. Moreover, any and all 19 parties, persons and entities owning the Lot shown on the Plat, or any part thereof, covenant and agree with all of the Ownersof the Lot hereby restricted and with their heirs, successors and assigns, and with each other, to conform to and fully observe all of the covenants, restrictions and reservations herein contained. In furtherance of the above and foregoing, the Allottor and Ranch Properties and any Owners of any of the Lot shown on the Plat hereby restricted, shall have the right to sue for and obtain an injunction, prohibitive or mandatory, to prevent the breach of or to enforce the observance of, the covenants, restrictions and reservations herein set forth, in addition to ordinary legal action for damages and failure of the Allottor or Ranch Properties or any Owner to enforce any of the covenants, restrictions or reservations herein contained at the time of its violation, shall in no event be deemed a waiver of the right to do so thereafter. 7.4 Assi ent of Allottor's Rights and Duties. Any and all rights, powers and reservations of the Allottor herein contained may be assigned in good faith by the Allottor to any responsible person, corporation or association or committee who has a legitimate interest in the subject matter hereof, which will assume any or all of the duties of Allottor hereunder, and upon any such person, corporation or association's evidencing its consent in writing to accept such assignment, said assignee shall, to the extent of such assignment, assume Allottor's duties hereunder, have the same rights and powers and be subject to the same obligations and duties as are given to and assumed by the Allottor herein, including the maintenance duties under Section 6.13. Upon such assignment, and to the extent thereof, the Allottor shall be relieved from all liabilities, obligations and duties hereunder. The term Allottor as used herein includes all such assignees and their heirs, successors and assigns. If at any time the Allottor ceases to exist and has not made such an assignment, or if, at any time, an assignee of the Allotor ceases to exist, a successor allottor may be appointed by the owners of 60% of the Property (other than Public Areas) upon compliance 20 with the requirements of Section 7.2(b) of this Article VII, without regard to the consent requirement of that Section. ARTICLE VIII. Miscellaneous 8.1 No Waiver. All the terms, provisions, conditions, covenants, restrictions and reservations contained herein shall be construed together, but if it shall at anytime be held that any one of said terms, provisions, conditions, covenants, restrictions and reservations or any part thereof, is or are invalid, or for any reason becomes unenforceable, no other terms, provisions, conditions, covenants, restrictions and reservations or any part thereof shall be thereby affected or impaired. 8.2 Owner's Liability Subsequent to Sale. Upon sale of a Lot, the Owner so selling shall not have any further liability for the obligations thereon which accrue against such Lot sold after the date of the conveyance; provided, however, that nothing herein shall be construed so as to relieve an Owner of any Lot from any liability or obligations incurred during the term of such Owner's ownership. 8.3 Benefits and Burdens. The terms and provisions contained herein shall bind and inure to the benefit of the Allottor, the Owner of the Lot and their respective heirs, successors, personal representatives and assigns. 8.4 Notice. Any notices required or permitted herein shall be in writing and mailed, postage prepaid by registered or certified mail, return receipt requested and shall be directed as follows: If intended for an Owner, to the address supplied in writing by the Owner to the Allottor, failing which the notice shall be sent to one of the following, in the following order or priority: (1) to the Lot if improved; (2) if the Lot is not improved to the address set forth in the purchase 21 contract; (3) none of the foregoing, to the last known address of the Owner. If intended for the Allottor to the adgess as follows: Mr. Edward K. Willis Financial Centre Corporation P.O. Box 56350 Little Rock, AR 72215 8.5 Singular and Plural. Words used herein, regardless of the number and gender specifically used, shall be deemed and construed to include any other number, singular or plural, and any other gender, masculine, feminine or neuter, as the context requires. EXECUTED on the date set forth below. Reviewed only fc. inc.usion of minimum standard:, requireuo by the Cit j cf Little Rock subdivision regulations. Bill of Assurance provisions established by the developer may exceed minimum regulations of thQ Little Rock subdivision and zoning ordinances. &�'� -nIoT i of Little Rock Planning Commission STATE OF ARKANSAS ) ) ss COUNTY OF PULASKI ) FCC Tract D Partnership By: Financial Centre Corporation, managing general partner BY:&u.. Edward K. Willis TITLE: President ACKNOWLEDGMENT BE IT REMEMBERED, That on this day came on before me, the undersigned, a Notary Public, within and for the County aforesaid, duly commissioned and acting, personally appeared Edward K. Willis, who acknowledged himself to be the President of Financial Centre Corporation, an Arkansas corporation, the managing general partner of FCC Tract D Partnership, an Arkansas general partnership and that he, as such officer, being authorized so to do, executed and the foregoing instrument, and stated that he had executed the same for the consideration and purposes therein mentioned and set forth by signing the name of the corporation as such corporate officer. IN TESTIMONY 2005. My Commission Expires: S�poA /0. '-) co ii EOF ereunto set my hand and seal this lay of . E Notary Pu is PLISLIC zj �� ......... 22 Date: `f o�`�� 20 Annexation i Board of Adjustment Cond. Use Permit/T.U.P. Final Plat Planned Unit Dev. Preliminary Plat Special Use Permit Rezoning Site Plans Street Name Change Street Name Signs Number - - at ea. Public Hearing Signs Number at ea. Total File No. Location Applicant L,�. sL By -: