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HomeMy WebLinkAboutS-0285-SSS Application2005053063 06/23/2005 03:89:58 PM Filed & Recorded in Official Records of PAT O'BRIEN PULA5KI COUNTY CIRCUIT/COUNTY CLERK Fees $68.00 DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE KNOW ALL MEN BY THESE PRESENTS: THAT WHEREAS, RANCH PROPERTIES, INC., an Arkansas corporation, hereinafter referred to as the "Allottor", is the owner of the following described land in the County of Pulaski, State of Arkansas, to -wit: PART OF THE NWIA OF SECTION 13 AND NE'A OF SECTION 14, T-2-N, R-14-W, LITTLE ROCK, PULASKI COUNTY, ARKANSAS MORE PARTICULARLY DESCRIBED AS: BEGINNING AT THE SOUTHWEST CORNER OF LOT 309, CYPRESS POINT WEST, AN ADDITION TO THE CITY OF LITTLE ROCK, ARKANSAS; THENCE S87°10'38"E ALONG THE SOUTH LINE OF SAID LOT 309, 140.00 FT. TO THE SOUTHEAST CORNER THEREOF; THENCE S02°49'22"W, 120.00 FT.; THENCE N87°10'38"W, 140.00 FT. TO A POINT ON THE EAST RIGHT-OF-WAY LINE OF BUCKLAND CIRCLE; THENCE NO2°49'22"E ALONG SAID EAST RIGHT-OF-WAY LINE, 120.00 FT. TO THE POINT OF BEGINNING, CONTAINING 0.3857 ACRES MORE OR LESS. AND WHEREAS, it is desirable that all of the above described prgpezlRC+(��T'� platted into lots and streets. NOW THEREFORE, -.''* •. R _-+ '� - Q WITNESSETH:co 2i: - That the said Allottor, for and in consideration of the benefits to accrue to it .. .... ."''' its successors and assigns, which benefits it acknowledges to be of value, have caused said tracts of land hereinabove described 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 - 1 - DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE the office of the Circuit Clerk and Ex-Officio Recorder of Pulaski County, Arkansas, in Plat H - '�)l LP and the Allottor does hereby make this Declaration of Restrictive Covenants and Bill of Assurance. IN FURTHERANCE THEREOF, Allottor warrants and represents that it has laid off, platted and subdivided, and does hereby lay off, plat and subdivide the lands herein described, in accordance with the aforesaid plat. The lands embraced in said plat shall be forever known as: Lot 310, Cypress Point West, an Addition to the City of Little Rock, Pulaski County, Arkansas; and any and every deed of conveyance of any lot in said Addition describing the same by the lot number shown on said Plat shall always be deemed a sufficient description thereof. Moreover wherever the terms "Lot or Lots" are used herein same shall mean the Lots platted hereby unless another meaning is expressly stated. Likewise wherever the term "Addition" is used herein same means Cypress Point West, an Addition to the City of Little Rock, Pulaski County, Arkansas. The Allottor hereby dedicates to the public forever an easement of way on and over the street rights -of -way as shown by said Plat, to be used as public streets. In addition to said street rights -of -way there are strips of ground shown and dimensioned on said Plat marked "Utility Easement" and "Drainage Easement", which Allottor hereby donates and reserves for the use of and by public utilities, and for drainage purposes, respectively, subject at all times to the proper authorities and to the easements and restrictive covenants herein reserved. Furthermore, if there are strips of ground shown and dimensioned on said Plat marked "Common Areas", Allottor hereby reserves the same as open green space for the use and benefit of the Allottor, its successors and assigns; provided, however, upon completion of the initial landscaping of any such Common Areas, Allottor may assign to the Association and the Association shall thereafter maintain and keep landscaped and pay all cost associated with same. All persons, natural and artificial, who become owners of the lots platted hereby, shall take their titles subject to the rights of public utilities and the public in the street rights -of -way and the utility and drainage easements shown on the Plat. -- 2 -- DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE 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 and the Utility and Drainage Easements shown on the said plat. The streets shown on said Plat shall henceforth be known by the names designated on said Plat and same shall be of the length and width shown thereon; provided, however, the Allottor does hereby reserve unto the Allottor the right to any surplus dirt in said streets for Allottor's own use and benefit. The lots in said Addition 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, uniform and suitable as residential property, to -wit: ARTICLE I LAND USE, BUILDING TYPE AND HEIGHT The real property herein platted shall be held, owned and used only for residential purposes except as otherwise shown on the plat. No buildings shall be erected, placed, altered, reerected or permitted to remain on or upon any lot platted hereby other than a single detached single family residence which shall not exceed two and one-half stories in height when seen from the front or principal street facades, a private fully enclosed garage for the storage of motor vehicles owned or used by the residents (storage of commercial motor vehicles being expressly prohibited), such garage to be of such sufficient size to adequately accommodate no less than two (2) nor more than four (4) motor vehicles no portion of which may thereafter be converted into living space or for any other purpose without the prior written approval of the Allottor, and such other outbuildings only as are incidental and related to the residential use of the lot. ARTICLE II ARCHITECTURAL CONTROL (a) Purpose. The Allottor is desirous of providing and maintaining harmony of external design and location in relation to the surrounding structures and topography and, for this purpose, has created an Architectural Control Committee which shall have the duties, obligations and responsibilities as hereinafter set forth. DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE (b) Architectural Control Committee. The Architectural Control Committee (hereinafter "the Committee") shall initially consist of at least three, but not more than five, members who shall be designated by the Allottor. Subsequent to the initial appointments, the Allottor shall appoint all replacement members of the Committee; provided, however, the Allottor may, at such time as it deems appropriate, release all control over appointments of members to the Committee to the Board of Directors of the Association by execution of an instrument to such effect in recordable form. Neither the Allottor, nor the Committee shall be liable in damage to any person submitting requests for approval or to any Owner within the Addition by reason of any action, failure to act, approval, disapproval, or failure to approve or disapprove, with regard to any request hereunder. All decisions of the Committee shall be by a majority vote of the members. The identity of the members of the Committee and all replacement members thereof shall be disclosed by an instrument in recordable form executed by the Allottor or, after release of control by the Allottor to the Association, then the President of the Board of Directors of the Association, as the case may be. (c) Requirements Before Construction. No building or other improvements shall be erected, placed, altered, reerected or permitted to remain on or upon any lot platted hereby until the building plans, specifications, exterior color schemes, general plan of landscaping and plot plan showing the location and facing of such building with respect to existing topography, adjoining streets, and finished ground elevations have been approved in writing by the Committee. Prior to commencement of any construction upon any Lot or part of any Lot located within the Addition, the Lot Owner shall submit to the Committee, the following documentation with respect to any proposed construction: (i) Plot Plan (ii) Floor Plan of the proposed structure (iii) Front, rear, right and left elevations of the proposed structure (iv) General Plan of Landscaping (v) Specifications reflecting the choice of exterior building materials and color scheme of the proposed structure (vi) Such other documentation as the Architectural Control Committee may request for purposes hereof, the term "proposed construction" shall include, but shall not be limited to, new construction of a residence, or other building or structure, remodeling, adding to or DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE modifying an existing residence or other structure, installation of a fence or wall, construction or remodeling of outbuildings and/or detached garages or other accessory structures, construction or installation of storm cellars, swimming pools, tennis courts, installation of an antenna or other similar electronic signal reception devises whether on a structure or on a Lot, construction of ponds or lakes, installation of any sign, and construction of driveways. The Committee shall use its best judgment to see that all improvements, construction, landscaping, and alterations on within the Addition conforms to and harmonizes with existing surroundings and structures, and are otherwise in conformity with the intent of this Declaration of Restrictive Covenants and Bill of Assurance. All documentation delivered to the Architectural Control Committee shall become the property of the Committee and shall be retained as a permanent record. The Committee shall have 15 days from and after receipt of the required documentation, which receipt shall be in writing acknowledged by a member of the Committee, to approve or disapprove by majority vote, the design, plans and specifications for any proposed construction. Any disapproval shall be in writing and shall specify in detail the basis for such disapproval and, as appropriate, modifications which, if made, will render the proposed construction acceptable. In the event that the Committee neither approves nor disapproves any proposed construction within 15 days of receipt of the hereinbefore described documentation, the proposed construction shall be deemed to be acceptable and this provision of this Declaration shall be deemed fully complied with and the construction may be commenced. Notwithstanding anything to the contrary herein contained, no construction of any type or variety shall be commenced prior to submission of the required documentation as hereinbefore set forth and receipt of either written approval of the Committee or 15 days from the date of receipt of said documents by the Committee shall have elapsed. Construction of any proposed construction approved by the Committee or deemed approved by the Committee shall be commenced within ninety (90) days of such approval and shall be prosecuted diligently to completion no later than twelve (12) months after commencement. (d) Design Standards. As is hereinbefore stated, it is the intention of the Allottor that the Addition be developed and maintained in a consistent and harmonious 5 DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE manner. In furtherance of and in keeping with the purposes hereof, the Committee shall promulgate, from time to time, DESIGN STANDARDS, which shall be utilized in reviewing proposed construction and which shall include guidelines with respect to size, area, style, height of building, color, types of building material, landscaping, and other similar and related matters and standards. The Design Standards as may be promulgated and amended from time to time shall be available for inspection at the offices of the Allottor as long as the Allottor selects the Committee, and thereafter, shall be maintained as a permanent record in the offices of the Association. No building or other improvement shall be erected, placed, altered, reerected or permitted to remain on or upon any lot platted hereby except if same is constructed in conformity with the provisions hereof. ARTICLE III MINIMUM PRINCIPAL BUILDING SIZE No residential building shall be constructed, erected, placed, altered, reerected or permitted to remain on or upon any lot platted hereby unless the finished heated and cooled living area thereof, exclusive of porches, patios, garages, breezeways, exterior stairways, porte cocheres, storage areas and outbuildings, shall equal or exceed 2400 square feet for a one story building, or, 2800 square feet for a split level or a multi -level building. Finished heated living area shall be measured in a horizontal plane to the face of the outside wall on each level. ARTICLE IV BUILDING LOCATION AND MINIMUM FLOOR ELEVATION LOTS No building shall be located, constructed, erected, placed, altered, reerected or permitted to remain on or upon any lot platted hereby nearer to the front lot line, rear lot line or nearer to the side street line than the minimum building setback lines shown on the Plat. No building shall be located, constructed, erected, placed, altered, reerected or permitted to remain on or upon any lot platted hereby nearer than a distance equal to ten percent of the width of the lot at the front building line, or eight (8) feet, whichever is greater, to an interior lot line. For the purposes of this paragraph, eaves, steps, balconies, and open porches shall be considered as a part of the building, but open terraces or patios without roofs shall not be so considered. On the Plat several Lots are shown and depicted with the notation thereon "minimum floor elevation 265.00 feet m. s.l." and said Lots are sometimes referred to herein as "Minimum Floor Elevation Lots". No building shall be located, constructed, DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE erected, placed, altered, reerected or permitted to remain on or upon any Minimum Floor Elevation Lots unless the floor elevation of that building is at or above 265.00 feet m. s.l. ARTICLE V LOT AREA AND WIDTH No lot platted hereby shall be subdivided or resubdivided or replatted without the written consent of the Allottor, which consent may be unreasonably withheld. In any event no building shall be erected, constructed or placed on any building site or lot having a width of less than seventy (70) feet at the minimum building set back line, nor shall any building be erected, constructed or placed on any lot having an area of less than ten thousand (10,000) square feet. ARTICLE VI EASEMENTS Easements of way for streets as shown on the plat filed herewith have herein been donated and dedicated to the public, and the persons, firms or corporations engaged in supplying public utility services, the same being, without limiting the generality of the foregoing, electric power, gas, telephone, cable, water and sewer, shall have the right to use and occupy said easements of way and streets for the installation, maintenance, repair and replacement of such utility services. Easements for the installation, maintenance, repair and replacement of utility services, sewer and drainage have herein been reserved, said easements being of various widths, reference being hereby made to the plat filed herewith for a more specific description of width and location thereof. As various utility facilities are underground, any alterations or lowering of the surface grade of the ground in any easement and the area immediately adjoining such easements is prohibited, if such alteration or lowering would result in there being less than 30 inches of clearance either vertically or horizontally between the surface grade and the underground electric cables and conductors supplying telephone and electric power service; and, as the electric distribution transformer stations and service pedestals are located on surface grade, fills within the area of the said easements and upon the lands adjacent thereto which will damage or which will interfere with the installation, maintenance, operation and replacement of the electric and telephone cables, facilities and equipment, and the supplying of service from such equipment are also prohibited. No incinerators, structures, buildings or similar improvements shall be built or maintained within the area of such utility easements. No excavations within the area of such easements for the erection of any fences (wood, wire, stone, or brick) or for any other purposes shall be made which would interfere with the installation, maintenance, repair and replacement of any utility -- 7 -- DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE service. In the event any such trees, incinerators, structures, buildings, fences, pavement or similar improvements shall be grown, built or maintained within the area of such easement, no utility will be liable for the destruction of same in the installation, maintenance, repair, or replacement of any utility service located within the area of such easement. ARTICLE VII UTILITIES The owner of any lot platted hereby shall install and maintain in conformity with applicable code requirements and other regulations, underground utility services, including electrical, natural gas, water, cable and telephone service between the point of delivery of such utility service as located by the utility company and the point of use of such owner. The owner of any lot platted hereby shall dig and backfill in conformity with applicable code requirements and other regulations a ditch for utility services. No individual water supply system or individual sewerage disposal system shall be permitted to be constructed or operated on any of the lots platted hereby. No television dish, antennae or similar equipment shall be installed on any of the lots platted hereby without the prior written consent of the Allottor. ARTICLE VIII NUISANCES No noxious or offensive activity or commercial business activity shall be carried on upon any lot, nor shall anything be done thereon which may be or may become an annoyance or nuisance to the owners of lots. No trucks, commercial vehicles or inoperative vehicles may be stored or parked on a lot platted hereby other than for making routine deliveries. Owner further agrees to keep unimproved lots free from trash, debris, and overgrown vegetation. If such does accumulate and owner does not promptly remove such upon notification by Allottor, the Allottor shall have the right to perform such cleanup work as is necessary and owner shall reimburse Allottor for the cost thereof. ARTICLE IX TEMPORARY STRUCTURES No mobile home, trailer, tent, shack, garage, barn, or outbuilding erected on a lot covered by these covenants shall at any time be used for human habitation. DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE ARTICLE X SIGNS No sign of any kind shall be displayed to the public view on any lot, except one sign of not more than five square feet advertising the property for sale or rent, or signs used by a builder or developer to advertise the property during the construction and sales period and in no event shall any such signage be affixed, permanently or temporarily, to any trees. ARTICLE XI LIVESTOCK AND POULTRY No animals, livestock, or poultry of any kind shall be raised or kept on any lot, except that dogs, cats or other household pets may be kept, provided that they are not kept or maintained for any commercial purpose. ARTICLE XII VISUAL OBSTRUCTIONS No fence, wall, hedge, or shrub planting or other obstacle which obstructs sight lines at elevations of more than 2 feet 6 inches above the roadways shall be placed or permitted to remain on any corner lot within the triangular area formed by the street lines and a line connecting them at a point 25 feet from the intersection of the street lines; or in the case of a rounded property corner, within the triangle formed by tangents to the curve at its beginning and end, and a line connecting them at points 25 feet from their intersection. No trees shall be permitted to remain within such distances of such intersections unless the foliage line is maintained at a height of 8 feet to prevent obstruction of such sight lines. ARTICLE XIII FENCES No fence, wall, hedge, or mass planting shall be permitted to extend beyond the minimum front building set back line established herein or from the side yard building line to the street or corner lots except upon the written approval of the Allottor. To insure compliance with the provisions of Article VI hereof as it relates to the erection of fences along utility easements, no fence, wall, or other structure shall be erected along property lines without approval of the design, construction, and materials by the Allottor. Further there shall be no barbed or other similar wire fences erected or placed on any lot nor shall DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE any chain link fence of any type or kind be erected or placed on any lot which can be seen from any street. ARTICLE XIV STREET ACCESS, DRIVEWAYS All driveways will be constructed of concrete surface material at grades lowered or raised to meet street grades with culverts installed and maintained unobstructed. ARTICLE XV PARKING AND STORAGE OF MOTOR HOMES, ETC. No motor homes, camper trailers, travel trailers, utility trailers or boat trailers shall be permitted to be parked, stored or remain upon any Lot, unless same is parked or stored and remains in a fully enclosed stall of the garage. No motor homes, camper trailers, travel trailers, utility trailers or boat trailers shall be permitted to be parked, stored or remain upon any street in the Addition. ARTICLE XVI EXTERIOR MAINTENANCE AND LANDSCAPING All buildings, structures and improvements constructed, erected and reerected on any lot and all yards and landscaping thereon shall be maintained in a good state of repair, neat and attractive manner by the Owner thereof. The Owner's maintenance obligations shall include, but not be limited to, prompt removal of all litter, trash, refuse and waste, lawn mowing, tree and shrub pruning, watering, keeping exterior lighting and mechanical facilities in working order, keeping lawn and landscaped areas alive and free of weeds and attractive, keeping parking areas and driveways in good repair, complying with all applicable governmental rules and regulations, repainting, and repairing exterior damages. No building or other structure shall be constructed, erected, placed, altered, reerected or permitted to remain on or upon any lot platted hereby unless, prior to the lot being offered for sale or issuance of a certificate of occupancy of the City of Little Rock, top soil shall be installed, leveled and sodded with live zoysia grass sod, or such other variety of grass sod as is approved by the Committee, in all yard areas of the lot and shrubs shall be planted in planting areas immediately adjacent to the building and structure situated thereon on the front and sides thereof. All vacant lots shall be maintained free and clear of debris, trash and weeds. -- 10 -- DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE Upon the failure of the Owner to maintain or landscape the grounds in accordance with the provisions hereof, the Architectural Control Committee or the Association may, upon 30 days written notice to the Owner, cause the grass, weeds and vegetation to be cut, when, and as often as, in its judgment is necessary, or cause appropriate landscaping to be installed. Upon the failure of the Owner to maintain the exterior of any structure in good repair and appearance, the Committee or the Association may, upon 6 months written notice to the property Owner, make repairs and improve the appearance of the structure in a reasonable and workmanlike manner. For purposes of performing such maintenance as may be required hereunder, the agents or employees of the Committee and/or the Association shall have the right, after reasonable notice to the Owner, to enter upon any Lot at reasonable hours on any business day. Notwithstanding any contrary provision hereof, the Committee or the Association may enforce the requirements of this Subparagraph by litigation at law, or in equity, and the costs of such litigation including any attorney's fees, shall be paid by such Owner, and if more than one, such Owners shall be jointly and severally liable. The cost of any maintenance required under Article XVI shall be assessed to the Owner thereof, shall constitute a lien upon the Lot, and may be collected in accordance with the provisions of Article XVIII hereof. ARTICLE XVII PROPERTY LINES AND BOUNDARIES Iron pins have been set on all lot corners and points of curve, and all lot dimensions shown on curves are chord distances, and all curve data as shown on the attached plat are centerline curve data. In the event of minor discrepancies between the dimensions or distances as shown on the attached plat and the actual dimensions or distances as disclosed by the established pins, the pins as set shall control. ARTICLE XVIII THE RANCH COMMUNITY PROPERTY OWNERS ASSOCIATION, INC. There has been formed by the Allottor a non-profit corporation known as The Ranch Community Property Owners Association, Inc. Each Owner of any Lot platted hereby by acceptance of a deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to fully abide by and comply with the Articles of Incorporation and By -Laws of the Association, as amended from time to time. The activities of the Association with respect to the hereinbefore described lands shall, in addition to the Articles of Incorporation and By -Laws, be subject to the following directions, limitations and conditions: DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE (a) Membership. Every Owner of a Lot platted hereby shall be a member of the Association. Membership shall be appurtenant to and not be separated from ownership of any Lot platted hereby which is subject to assessment. The Owner(s) of each Lot platted hereby shall be entitled to one vote for each Lot owned. When more than one person holds an interest in any Lot platted hereby, all such persons shall individually be Members but shall collectively have one vote only with respect to each Lot owned by such persons. The Allottor shall be entitled to one vote for each Lot platted hereby owned by Allottor. (b) Owner's Easements of Enjoyment. Every Owner shall have a right and easement of enjoyment in and to the Common Area or areas which shall be appurtenant to and which shall pass with the title to every Lot platted hereby, at such time or times as the same shall be conveyed to the Association by the Allottor, subject to the following provisions: (i) The right of the Association to charge assessments for the maintenance and repair of any common area; (ii) The right of the Association to suspend voting rights and rights to use of the common areas by an Owner for any period during which any assessment as hereinafter described against such Owner's Lot remains unpaid; and for a period not to exceed 60 days for any infraction of the published rules and regulations regarding the use of such common areas facilities promulgated by the Association; (iii) The right of the Association to dedicate or transfer all or any part of the common area to any public agency, authority or utility for such purposes and subject to such conditions as may be agreed to by the Association. No such dedication or transfer shall be effective except upon the vote of a majority of the Members. (iv) The right of the Association to grant such other licenses or easements for such rental or consideration, all as the Association deems appropriate, to construct, maintain, use, repair and occupy boat docks and slips or other similar improvements. (v) The right of the Association to take such other actions as are prescribed by the Association's Articles of Incorporation and By - Laws, as amended from time to time. -- 12 -- DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE (vi) The right of the Allottor to use of any of the Common Areas to promote sales of unsold Lots platted hereby, such use to be without cost to Allottor. (c) Covenant for Maintenance Assessments. Each Owner of any Lot platted hereby by acceptance of a deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association: (1) Annual assessments or charges and (2) Special assessments for capital improvements, such annual and special assessments to be established and collected as hereinafter provided. Unless otherwise agreed to in a separate writing, Allottor shall have no liability for payment of any such assessments for any Lots platted hereby owned by Allottor. The annual and special assessments, together with interest, costs and reasonable attorneys fees, shall be a charge on the Lots platted hereby and shall be a continuing lien upon the Lots platted hereby 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 is or was the Owner or Owners of such Lot platted hereby at the time when the assessment fell due. The personal obligation for delinquent assessment shall not pass to his successors in title unless expressly assumed by such successors. The assessments levied by the Association shall be used exclusively for the recreation, health, safety and welfare of the members of the Association, for the improvement and maintenance of any Common Area or areas owned by the Association or for which the Association assumes a responsibility; for repair and replacement of any Common Area or areas owned by the Association or for which the Association assumes a responsibility, whether public or private; and for insurance, taxes, and other costs and expenses related to, and, in the discretion of the Board of Directors, consistent with the purposes of the Association. The initial annual assessment for vacant Lots platted hereby shall be $336.00 and for Lots platted hereby upon which a residence is constructed or other improvements are made shall be $696.00. The initial annual assessment may be collected monthly, shall be fixed by the Board of Directors of the Association to commence at such time or times as shall be determined by Board of Directors. From and after the establishment of the initial annual assessment, changes in the amount of the annual assessment shall be made in accordance with the Association's By-laws . Further, notwithstanding anything to the contrary herein contained, the Board of Directors of the Association shall be empowered in the manner and for the purposes prescribed by the DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE Association's By-laws to levy, in any assessment year, a special assessment applicable to that year only for the purpose of deferring and paying, in whole or in part, the costs of any construction, reconstruction, repair or replacement of a capital improvement located upon and situated in any Common Area or areas owned by the Association or for which the Association assumes a responsibility, including fixtures and personal property related thereto. The annual assessments hereinbefore described, once levied, shall commence as to each Lot platted hereby upon the first day of the month following the date of the levy. The first annual assessment shall be adjusted according to the number of months remaining in the calendar year and the amount thereof shall be pro -rated. The Board of Directors of the Association shall fix the amount of the annual assessment against each Lot platted hereby at least 30 days in advance of each annual assessment period. Written notice of the annual assessment shall be sent to every Owner subject thereto. The due date shall be established by the Board of Directors of the Association. The Association shall, upon demand, and for a reasonable charge, furnish a certificate signed by an officer of the Association setting forth whether the assessments on a specified Lot platted hereby have been paid. A properly executed certificate of the Association as to the status of assessment of a Lot platted hereby is binding upon the Association as of the date of its issuance. (d) Effect of Nonpayment of Assessments and Remedies. Any assessment not paid within 30 days after the due date thereof as established and fixed by the Board of Directors of the Association shall bear interest from the due date at the maximum lawful rate. The Association may, upon such default, bring an action at law against the Owner or Owners personally obligated to pay the same, or foreclose the lien of the assessment against the applicable lot. The Owner may not waive or otherwise escape liability for the assessments herein provided by non-use of the common area or abandonment of his Lot. The lien of the assessments provided for herein shall be subordinate to the lien of any first mortgage. The sale or transfer of any Lot platted hereby shall not affect the assessment lien; provided, however, that the sale or transfer of any Lot platted hereby 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. No sale shall relieve such Lot platted hereby from liability for any assessment thereafter becoming due or from the lien thereof. ARTICLE XIX ADDITIONAL PROPERTY Allottor reserves the right to, but shall not be obligated to, develop additional tracts of land, whether adjoining, adjacent or otherwise situated (hereinafter referred to as -- 14 -- DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE the "Additional Tracts") and may, in its sole discretion, elect to cause the development of Additional Tracts to be governed by covenants similar to the covenants herein set forth and may have common areas which may be conveyed to the Association to be maintained and kept landscaped by and at the expense of the Association or for which the Association may assume all maintenance and landscaping responsibility. Furthermore, Allottor may, in its sole discretion, elect: (i) to invite and then allow and consent by separate written instrument signed by Allottor and an owner, any one or more property owners in any subdivisions previously developed by Allottor to become members of the Association and thus subject to all duties, responsibilities and assessments in accordance with such membership and entitled to all privileges, rights and enjoyment of common areas of all other members of the Association; and, (ii) to cause and allow any property owners in any other or subsequent development of the Additional Tracts or phases thereof to become members of the Association by virtue of owning a lot in such development and thus subject to all duties, responsibilities and assessments in accordance with such membership and entitled to all privileges, rights and enjoyment of common areas of all other members of the Association. ARTICLE XX RIGHT TO ENFORCE The restrictions, covenants and provisions herein set forth shall run with the lots platted hereby and shall bind the present owner, their heirs, successors and assigns and any person, natural or artificial, hereinafter owning any of the lots platted hereby. Allottor and any owner of any of the lots platted hereby shall have the right to sue for and obtain an injunction, prohibitive or mandatory, to prevent the breach or to enforce the observance of, the restrictions above set forth, in addition to any ordinary legal action for damages. The failure of Allottor or any owner of any of the lots platted hereby to enforce any of the restrictions hereby set forth at the time of its violation, shall, in no event, be deemed to be a waiver of the right to do so thereafter. -- 15 -- DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE ARTICLE XXI MODIFICATION OF RESTRICTIONS Notwithstanding any provision, restriction or covenant herein contained to the contrary, so long as Allottor is the owner of any of the Lots platted hereby, then any and all of the covenants, provisions and restrictions set forth herein may be amended, modified, extended, changed or canceled, in whole or in part, by a written instrument signed and acknowledged solely by the Allottor. Furthermore, notwithstanding any provision, restriction or covenant herein contained to the contrary, any and all of the covenants, provisions and restrictions set forth herein may be amended, modified, extended, changed or canceled, in whole or in part, alternatively by a written instrument signed and acknowledged by at least seventy (70%) percent of the owners of the Lots platted hereby; 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 Allottor regardless of whether or not Allottor owns any lots platted hereby, such approval to be in the sole discretion of the Allottor. The provisions of any such instrument so executed shall be binding from and after the date it is duly filed for record in Pulaski County, Arkansas. Each covenant, restriction and provision in this Bill of Assurance, unless expressly provided otherwise, shall remain in full force and effect until January 1, 2023. ARTICLE XXII ASSIGNMENT AND BINDING EFFECT Allottor expressly reserves the right to assign in writing the Allottor's rights and obligations hereunder to another person, natural or artificial; provided, however, such other person shall only succeed to the rights and obligations of the Allottor upon recordation of such an assignment executed by the Allottor which expressly and specifically assigns the Allottor's rights and obligations hereunder and a conveyance of the land platted hereby will not be deemed such an assignment to the purchaser thereof. Otherwise the personal representatives, heirs and successors of the Allottor shall automatically be bound by and shall succeed to the rights, duties and obligations of the Allottor. ARTICLE XXIII EXTENSION All covenants for which extension is not otherwise provided in this instrument shall automatically be extended for successive periods of ten (10) years each, unless modified, terminated or canceled as provided herein. -- 16 -- DECLARATION OF RESTRICTIVE COVENANTS AND BILL OF ASSURANCE ARTICLE XXIV SEPARABILITY Invalidation of any restriction set forth herein, or any part thereof by an Order, Judgment or Decree of any court, or otherwise, shall not invalidate or affect any of the other restrictions, or any part thereof as set forth herein, but they shall remain in full force and effect. EXECUTED this 231d day of June, 2005. Reviewed only for inclusion of minimum standards RANCH PROPERTIES, INC. required by the City of tittle Rock subdivision regulations. Bill of Assurance provisions established by tho By_ developer may exceed minimum regulations of the Little Rock subdivision and zoning ordinanoes. Ed K. Willis ( TITLE: President city of Little Rock PlaMng Commission ACKNOWLEDGMENT STATE OF ARKANSAS ) COUNTY OF PULASKI ) On this 231d day of June, 2005, before me a Notary Public, duly commissioned, qualified and acting, within and for the County and State aforesaid, appeared ui person the within named Ed K. Willis to me personally well known, who stated that he was the President of Ranch Properties, Inc., an Arkansas corporation, and was duly authorized in his/her capacity to execute the foregoing instrument for and in the name and behalf of the said corporation, and further stated and acknowledged that he/she 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 seal on this 23rd day of June, 2005. My Commission Expires: q / Waw+ &- CL, � - &4�� Notary Public -- 17 -- CIVIL ENGINEERING DIVISION FINAL PLAT FILING APPROVALS FINAL PLAT NAME:�—�— r i - (�1 Lod 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 emain uncompleted as follows: Engineering Specialist ENGINEER REPORT I have reviewed the file for this matter and find that: The maintenance bond has been submitted and it is the proper type and amount. &A- Financial assurance for the uncompleted improvements listed above has been received. AU other r i uirements for final plat approval have been satisfied. C,��6 �,, r-�6v, /,/ " W" Civil Engineer I/II v SURVEYOR'S REPORT I have reviewed the plat and find that: All requirements for final plat approval have been satisfied. Surveyor MANAGER APPROVAL All Civil Engineering requirements for filing this final plat have been satisfied. Design Review Engineer/Civil Engineering Manager City of Little Rock Planning and Development Filing Fees Date: ( I)o , 20 04 Annexation Board of Adjustment Cond. Use Permit/T.U.P. Final Plat Planned Unit Dev. 4 1 Preliminary Plat �, $ Special Use Permit Rezoning Site Plans Street Name Change Street Name Signs Number at Public Hearing Signs Number at e a. = , �05 $ ea. $ Total $- 1 • �� File No. — �Q Location tAt At 3t _