HomeMy WebLinkAboutS-0501 ApplicationFIRST AMENDMENT TO
PLAT AND BILL OF ASSURANCE OF
STONELEIGH,
AN ADDITION TO THE CITY OF LITTLE ROCK,
PULASKI COUNTY, ARKANSAS
KNOW ALL MEN BY THESE PRESENTS:
THAT, WHEREAS, HI BID PARTNERSHIP, an Arkansas partnership,
executed and recorded in the Office of the Pulaski County
Circuit Clerk a certain Plat and Bill of Assurance of
STONELEIGH, an Addition to the City of Little Rock, which Bill
of Assurance appears of record as Inst-r meant- No. 85-35613 and
which Plat appears of record in Plat Book B at Page 553; and
WHEREAS, HI BID PARTNERSHIP is the owner of Lots 2 to 10,
inclusive and 12; and William P. Stiritz and Susan E. Stiritz,
Husband and Wife are the owners of Lot Eleven (11); and Dennis
D. Holzhauser and Dianna A. Holzhauser, Husband and Wife are
the owners of Lot One (1); and
WHEREAS, the owners of all of the lots in STONELEIGH desire
to amend and modify the Plat of STONELEIGH;
1
NOW, THEREFORE, the undersigned, being the owners of all of
the lots in STONELEIGH, an Addition to the City of Little Rock,
do hereby substitute the Plat attached to and made a part of
this instrument for the Plat now appearing in Plat Book B at
Page 553 which shall hereafter be superseded and of no further
effect.
(3907A/061386)
FIRST AMENDMENT TO
PLAT AND BILL OF ASSURANCE
Page 2
T�
EXECUTED this the day of June, 1986.
Willitam P."Stir tz
Dennis D. Hol auser
STATE OF ARKANSAS)
) ss.
COUNTY OF PULASKI)
HI BID PARTNERSHL-
f �
By: f�
Susan E. Stiritz
® W Y-,L , r� Aat"'
Dianna A. Holzhauser
ACKNOWLEDGMENT
On this the J5 � day o—A , 8�,b�DIA
e me, theundersigned officer, personally peareIwho acknowleged himself to be a partner of HRTNERSHIP,
a partnership, and that he, as such partner, being authorized
so to do, executed the foregoing instrument for the purposes
therein contained, by signing the name of the partnership by
himself in such capacity.
IN WITNESS WHEREOF I hereunto set my hand and official seal.
Notary Public
My Commission Expires:
(3907A/061380)
FIRST AMENDMENT TO
PLAT AND BILL OF ASSURANCE
Page 3
ACKNOWLEDGMENT
STATE OF ARKANSAS)
) ss.
COUNTY OF PULASKI)
On this the jf,:�11
A., day of 1986, before me, the
undersigned officer, personally geared William P. Stiritz and
Susan E. Stiritz, known to me ( r satisfactorily proven) to be
the persons whose names are subscribed to the within instrument
and acknowledged that they executed the same for the purposes
therein contained.
IN WITNESS WHEREOF I hereunto set my hand and official seal.
Notary Public
My Commission Expires:
ACKNOWLEDGMENT
STATE OF ARKANSAS)
) ss.
COUNTY OF PULASKI)
On this the . day of1986, before me, the
undersigned officer, personally `appeared Dennis D. Holzhauser
and Dianna A. Holzhauser, known to me (or satisfactorily
proven) to be the persons whose names are subscribed to the
within instrument and acknowledged that they executed the same
for the purposes therein contained.
IN WITNESS WHEREOF I hereunto set my hand and official seal.
a � P ,4 0x-�"kC�Qy-
N&t�arj Public
My Commission Expires:
C-L-L ti'C�l 1 1 9 -90
(3907A/061386)
REPLAT
AND
BILL OF ASSURANCE
OF
LOTS ONE (1) TO TWELVE (12), INCLUSIVE,
STONELEIGH COURT,
AN ADDITION TO THE CITY OF LITTLE ROCK
THE_ PUBLIC
to
HI -BID PARTNERSHIP
KNOW ALL MEN BY THESE PRESENTS:
WHE
REAS, HI 'BID , PARTNERSHIP (the "Grantor") owns the
described lands lying in Pulaski County, Arkansas,
followsn q
to -wit: RIFFEL &
Lots 16, 17►
18, 19, 20 and 21, Block 4,
RHOTON'S FOREST PARK HIGHLANDS ADDITION to the City o
Little Rock, art of this
which is shown on the plat attached to and made a p in the
_ at Page _�
instrument and recorded in Plat Book Clerk (the plat' as
office of the Pulaski County Circuit C
inclusive,
Private Common Area and Lots One (1) to Twelve (12), a Rock,
S TONELEIGH COURT, an Addition to the City of Littl
Pulaski County, Arkansas; and
AS it is deemed desirable by the Grantor that the
WHEREAS, and
Land be subdivided into lots and private common area;
the Grantor
WHEREAS, by this Plat and Bill of Assurance,
to for their benefit, and for the mutual benefit
intends to crea hts, easements,
of all future owners of the Land, certain rig
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Page 2
covenants and conditions governing the use, enjoyment and
maintenance of the Land;
NOW, THEREFORE, the Grantor, for and in consideration of
the benefits to accrue to it, which benefits it acknowledges to
be of value, hereby plats the Land as Lots One (1) to Twelve
(12), inclusive, STONELEIGH COURT, an Addition to the City of
Little Rock. Henceforth, description and conveyance by such
designation or part thereof as shown and represented on the
Plat shall be a proper and sufficient description for all
purposes.
A permanent easement or easements for drainage, for laying
and maintaining sewer pipes and mains, storm sewers, and for
the installation and maintenance of utilities are created,
excepted and reserved over, across and through the Land as
shown on the Plat.
That portion of Indiana Street as shown and depicted on the
Plat is hereby dedicated as a public street and thoroughfare.
The Land platted by this instrument and any interest
therein shall be held and owned subject to and in conformity
with the declarations and covenants set forth in this
Instrument which shall be construed to be covenants running
with the land and shall be binding upon all owners of the lots
herein platted and upon their heirs, successors and assigns
forever, to -wit:
0
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REPLAT AND BILL OF ASSURANCE
Page 3
1. Description of Land. The underlying realty for the
Lots and Private Common Area was formerly platted as Lots 16,
17, 18, 19, 20 and 21, Block 4, Riffel & Rhoton's Forest Park
Highlands Addition to the City of Little Rock, Arkansas. The
i Property is owned by the Grantor in fee simple absolute,
subject to easements, restrictions and mortgages existing
and/or of record. The Land together with all improvements is
sometimes referred. -to as the "Community" or the "Property".
2. Description of Building. There are three multi -story
buildings (the "Buildings") situated on the Twelve (12) Lots
containing Twelve (12) separate Units with each Unit situated
on a single Lot. The term "Unit" shall mean and refer to the
structure situated on a Lot. The Units are joined by party
walls (hereinafter referred to as "Common Walls").
3. Description of Lots. (a) Each of the Twelve (12) Lots
in the Community are hereby described and identified as shown
and depicted on the Plat and are referred to collectively as
the "Lots" or singularly as the "Lot". All other portions of
the Land shall be Private Common Area.
(b) Each Lot shall include as an inseparable
appurtenance thereto all of the following:
(i) A One -twelfth (1/12th) undivided interest in the
Private Common Area as a tenant in common with the other
Owners;
(ii) A license to use One (1) parking space as
designated in the Rules of the Association (hereinafter
(061184/0135a)
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EPLAT AND BILL OF ASSURANCE
age 4
defined) without charge but for only such purposes as
permitted in the Rules of the Association.
(iii) Membership in Stoneleigh Court Owners'
Association, as described in Paragraph 11, (the
"Association"), together with an undivided One -twelfth
(1/12th) interest in the assets held by the Association.
4. Ownership of Private Common Area. (a) All of the Land
except the Lots is declared to be Private Common Area for the
equal use and benefit of all Owners of the Lots subject to the
provisions of this Instrument and to reasonable Rules of the
Association.
(b) The Private Common Area shall remain undivided
and no Owner shall bring any action for the partition or
division thereof. The undivided interest of each Owner in the
Private Common Area shall not be separated from the Lot to
which it appertains and shall be deemed to be conveyed or
encumbered, as the case may be, by any instrument affecting
title to the Lot involved even though such interest is not
expressly mentioned or described in- the instrument of
conveyance. The One -twelfth (1/12th) undivided ownership of
each Owner in the Private Common Area established by this
Instrument shall not be altered without the unanimous consent
of all Owners of Lots expressed in an amendment to this
Instrument duly recorded according to law.
(c) Deeds, conveyances and other instruments
describing Lots bounded by or abutting any Private Common Area
IZZ
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XEPLAT AND BILL OF ASSURANCE
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(including, but not limited to, any road, walkway, parking
area, or any other Private Common Area shown on the Plat) shall
not extend upon or include any part of such Private Common Area.
5. Form of Ownership. Any Lot may be held and owned by
more than one person as joint tenants, as tenants in common, as
tenants by the entirety or in any other real estate tenancy
relationship recognized under the laws of Arkansas. Unless
otherwise agreed between the parties, for purposes of this
Community the °Owner° of a Lot shall be the person or persons
having the possessory legal or equitable interest to the Lot
whether as a tenant, as a purchaser under a contract for the
sale of the Lot or otherwise.
6. Easements. Each Lot shall include as an inseparable
appurtenance thereto the following described easements
burdening every other Lot:
(a) Ingress and Eqress. An easement through and
across the Private Common Area for ingress, egress and regress
for all Owners of the Lots and their invitees.
(b) Maintenance, Repair, and Re lacement. An
easement through and across all Lots and Units and the Private
Common Area for maintenance, repair and replacement of all
Units and Private Common Area; provided, however, no person may
use this easement to gain access to an Unit without giving the
Owner Twenty-four (24) hours prior notice thereof.
(061184/0135a)
19
nEPLAT AND BILL OF ASSURANCE
page 6
Lot or
(c) Structural Support. Every portion of any
Unit which contributes to the structural support of the
Building or another Unit shall be burdened with an easement of
structural support for the benefit of adjoining Units and Lots.
(d) Utilities. An easement is created through all
Lots and Private Common Area for all facilities for utility
services within the Building, which shall include, but not be
limited to, conduits, ducts, plumbing and wiring, which shall
be substantially in accordance with the Plans of the Units
affected.
(e) Overhang Easement. An easement is hereby created
for each Owner to overhang the roof of his Unit, as originally
constructed or reconstructed, over any adjacent Lot or Private
common Area.
(f) Encroachment. An easement for the encroachment
of any Unit upon any adjacent Lot or Private Common Area and
for the maintenance and repair of the same is hereby created.
This easement shall apply (i) to any encroachment of the
improvements as originally constructed; (ii) to any existing
encroachment; (iii) to any encroachment which shall occur
hereafter as a result of settling or shifting of any Unit; and
(iv) to any encroachment which shall occur due to the repair
or replacement of any Unit damaged or destroyed by fire or
other casualty to the extent such repair and replacement
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Page 7
restores the Unit in substantially the same condition as
existing prior to the fire or other casualty.
(g) Emergency. An easement is created for ingress,
egress and regress through the Lots, Units and Private Common
Area whenever reasonably required in the case of an emergency.
7. Restrictions on Use. In order to provide for the
permanent maintenance of an aesthetically attractive Community,
for the peaceful enjoyment of the Community by its Owners, and
for the protection of the value of the Lots, the Land shall -be
occupied and used subject to the following restrictions:
(a) There shall be no obstruction of the Private
Common Area. Nothing shall be stored in the Private Common
Area without the prior consent of the Association. The
Association shall have full power to establish reasonable rules
concerning the usage of all Private Common Area (the "Rules").
Such power shall include the assignment of Private Common Area
to a Lot for exclusive use as a parking space, or for the
installation of necessary equipment such as an air
conditioner. If such area is assigned, the Association, in its
discretion, may control the design, shape, size and area. The
location on Private Common Area of a house, pen, cage or
container for a pet is specifically prohibited.
(b) Nothing shall be done or kept on any Lot, in any
Unit or in the Private Common Area which is in violation of law
(061184/0135a)
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gl;PLAT AND BILL OF ASSURANCE
page 8
or which will cause the cancellation or increase the rate of
te Common Area or any Unit, without the
insurance on the Priva
prior consent of the Association. poultry of any
(c) No animals, livestock, insects or
kind shall be raised,
bred or kept on any
Lot, in any Unit or
t that household pets may be
in the Private Common Area,
excep
kP
e t in Units subject to the Rules of the Association• occur on
(d) No noxious or offensive activity shall
Unit or in the Private Common Area, nor shall
any Lot, in any ance or
} anything be done therein which may
be or become an annoy
nuisance to the other Owners.
Nothing shall �be altered or constructed in or
(e) t upon the written
removed from the Private Common Areal excep
permission of the Association. signs, or posters shall be
r
(f) No advertisements, such as may
ed on or about the Land, except
erected or display t for One
authorized in advance by the Association and except
be that Unit for sale or
(1) sign affixed to a unit advertising
lease. all times with
(g) Due care shall be exercised at
' 'se and all other uses or practices which may be a
regard to not which may be a
annoyance to Owners of Lots or
` source of annoy possession and
nuisance or may interfere
with the peaceful
,5 4 proper premises
use of the Property or of any other person.
4
(061184/0135a)
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;REPLAT AND BILL OF ASSURANCE
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(h) No gas piping, electrical wiring, or radio or
television antenna systems shall be installed in or about the
Community without the prior written approval of the Association.
(i) The Units shall be used solely and exclusively
for uses permitted under the zoning ordinances of the City of
Little Rock as they may exist from time to time.
8. Taxes and Special Assessments. Taxes, special
assessments and other charges of the State of Arkansas, of any
political subdivision thereof, of any special improvement
district, or of any other taxing or assessing authority, shall
be assessed against and collected on each individual Lot, each
of which shall. be carried on the tax books as a separate and
distinct parcel or entity for that purpose, and not on the
Property as a whole. The value of each Lot shall include its
interest in the Private Common Area; taxes, assessments and
other charges shall not be levied on the Private Common Area,
but shall be levied on the respective Lots platted by this
Instrument. However, if any taxing authority levies any taxes,
assessments or other charges on the Private Common Area, such
taxes, assessments or other charges shall be treated as Private
Common Area expenses under Paragraph 12.
9. Maintenance, Repair and Reconstruction. (a) The
Association shall be responsible for the maintenance, repair
and replacement of:
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REPLAT AND BILL OF ASSURANCE
Page 10
(i) all portions of the Private Common Area,
including but not limited to, the driveways, walkways,
parking areas and decking off each Unit;
(ii) the exterior shingles, decking, rafters, beams
and other roofing materials;
(iii) the exterior brick or wood surface of the
Buildings, except for windows and doors;
(iv) rain gutters and downspouts; and
(v) all incidental damage caused to a Lot or Unit -by
any work done or caused to be done by the Association in
accordance with the provisions hereof.
(b) Except as specifically assigned to the
Association in (a) above, each Owner shall have the individual
responsibility at his own expense:
(i) to maintain, repair and replace all portions of
his Unit, including but not limited to, the interior walls,
ceilings, floor coverings, heating, ventilating and air
conditioning equipment, wires, pipes and ducts, mechanical and
electrical systems and equipment, windows, doors (exterior door
surface to be painted in original color only without approval
of Association), walks, fences, plumbing and electrical
fixtures;
(ii) to maintain the exterior portion of his Unit and o
his Lot in a neat and attractive condition at all times;
(iii) to maintain, repair and replace Common Walls as
described in (c) below;
(iv) to refrain from decorating or changing the
appearance of any portion of the exterior of the Unit or the
Building without the written consent of the
(060485/0135a)
'REPLAT AND BILL OF ASSURANCE
Page 11
Association, but this restriction shall not prevent an
Owner from painting, replacing or restoring any portion of
the exterior in the same color and same manner as
originally constructed;
(vi) to promptly report to the Association any defect
or need for repairs, the responsibility for which rests
with the Association; and
(vii) to refrain from altering, removing, or making
any adjustment to or doing anything which might affect the
safety or soundness of the building structure (including
wires, pipes and ducts) without the prior written consent
of the Association.
If any Owner shall fail to perform his obligations under this
subparagraph (b), the Association shall have the right,
privilege and option to cause such obligations to be performed
at its expense after Ten (10) days written notice to such Owner
in which event the Association shall be entitled to a lien on
such Owner's Lot for the cost of such work.
(c) (i) As used herein the term "Common Wall" means
the wall and fence situated on the common property line between
adjacent Lots and the portions of the roof and foundation of
the Building above and below such wall.
(ii) All reasonable costs of maintenance, repair
and restoration of Common Walls shall be borne equally by the
Owners of the adjacent Lots to which the Common Wall pertains,
except as such obligation is unposed on the Association under
(a) above.
(061184/0135a)
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�EPLA`i' AND BILL OF ASSURANCE
:Page 12
(iii) The general rules -of common law regarding
party walls and liability for property damage due to negligence
or willful acts or omissions are expressly incorporated herein
and shall apply to the Common Walls.
(d) (i) If any part of the Building shall be damaged
by fire or other casualty, the same shall be reconstructed or
repaired substantially in accordance with the Plans unless such
reconstruction or repair has been waived in writing by those
Owners owning Five (5) or more of the Lots. Encroachments upon
or in favor of any Lot which may be created as a result of
reconstruction or repair, shall not constitute a claim or cause
of action by the Owner upon whose Lot the encroachment exists.
(ii) If the fire or casualty damages or destroys
more than One (1) Unit or any item for which the Association
has the maintenance responsibility under (a), the Association
shall have the responsibility for reconstructing or repairing
any damage caused by such fire or other casualty; otherwise,
the Owner of the Unit affected shall have such responsibility.
a
If the repair obligation rests with the Association,
immediately after such fire or other casualty, the Association
shall obtain reliable and detailed estimates of the cost
required to place the damaged property in as good a condition
as existed before the casualty. The costs may include
professional fees and premiums for such bonds as the
(061184/0135a)
.REPLAT AND BILL OF ASSURANCE
Page 13
Association may deem necessary. If the proceeds of insurance
are not sufficient to defray the estimated costs of
reconstruction or repair, assessments shall be made against the
Owner(s) of the Unit(s) affected and the Association in an
amount sufficient to provide funds to pay the excess estimated
costs allocated equitably based on whether the excess costs
relate to items for which the Owner(s) of the Unit(s) affected
or the Associatioh have the responsibility for maintenance
under (a).
(d) Notwithstanding the foregoing, the Owner of any
Lot shall be responsible for.. all costs associated with any
damage or injury to any Unit or to the Building caused by or
resulting from the fault or negligence of any Owner, his
family, employees or guests.
10. Insurance. (a) The Association, for the benefit of
the Association and each Owner, shall acquire and maintain in
full force the following insurance, the premiums for which
being paid from the common expense fund provided for below,
to -wit:
(i) A policy or policies of hazard insurance in the
Corm commonly known as "All Risk" and in an amount not less
than the replacement value of the Building and other
improvements in the Land, or such other fire and casualty
insurance as the Association shall determine provides
substantially equal or greater coverage. All of such
policies shall provide that the mortgagees of the Lots are
loss payees, as their interests may appear;
(061184/0135a)
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REPLAT AND BILL OF ASSURANCE
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(ii) A policy or policies of liability insurance in
the form commonly known as comprehensive general liability
insurance or owners', landlords' and tenants' liability
insurance naming the Association, and all Owners as named
insureds and providing coverage in the minimum amounts ❑f
One Million Dollars ($1,000,000.00) per person and
occurrence for bodily injury and One Hundred Thousand
Dollars ($100,000.00) per occurrence for property damage.
The policies shall also contain coverage for non -owned or
hired automobiles and personal injury in amounts to be
determined by the Association. The limits and coverages
for all of such insurance shall be reviewed at least
annually by the Association;
(iii) Workmen's compensation insurance to the extent
necessary to comply with any applicable law; and
(iv) Fidelity bonds to protect against dishonest acts
on the part of officers, directors, and employees of the
Association and all others who have access to assets of the
Association.
(b) The Association shall obtain and maintain
insurance of the type and kind and in the minimum amounts
provided in this Paragraph. All such insurance shall be
governed by the following provisions:
(i) All policies shall be written with companies
licensed to do business in the State of Arkansas and
holding a rating of "A" or better by Best's Key Rating
Guide;
(ii) Exclusive authority to adjust losses under
policies hereafter in force in the Community shall be
vested in the Association or its authorized representative;
(iii) In no event shall the insurance coverage
obtained and maintained by the Association hereunder be
brought into contribution with insurance purchased by the
Owners or their mortgagees;
(iv) It is specifically acknowledged that each Owner
shall be responsible for securing insurance coverage (A)
for any improvements, betterments or additions to a Unit
(061184/0135a)
REPLAT AND BILL OF ASSURANCE
Page 15
subsequent to the date this Instrument was filed for record
in the office of the Pulaski County, Arkansas, Circuit
Clerk, (B) for such Owner's mortgage payments, and (C) for
such Owner's household and personal property. The
Association shall have absolutely no obligation of any kind
whatsoever to secure coverage for such property. Provided,
however, no Owner shall be entitled to exercise his right
to maintain insurance coverage in such a way as to decrease
the amount which the Association, on behalf of all Owners,
may realize under any insurance policy which the
Association may have in force on the Community at any
particular time;
(v) Each Owner shall notify the Association of all
permanent improvements made by the Owner to his Unit, the
value of which is in excess of One Thousand Dollars
($1,000.00);
(vi) Any Owner who obtains individual insurance
policies covering any portion of the Community other than
personal property belonging to such Owner, shall be
required to file a copy.. of such individual policy or
policies with the Association within Thirty (30) days after
the purchase of such insurance;
(vii) The Association shall make diligent efforts to
secure insurance policies which provide for the following:
(i) A waiver of subrogation by the insurer as
to any claims against the Association, the Owners and
their respective agents, employees and guests;
(ii) That the master policy on the Community
cannot be cancelled, invalidated or suspended for any
reason (including nonpayment of premium) without Ten
(10) days prior written notice to the Association and
each Owner; and,
(iii) That any "no other insurance" clause in
the master policy exclude individual Owners' policies
from consideration.
11. Administration of the Community. (a) Administration
of the Community shall be vested in an organization called
STONELEIGH COURT OWNERS ASSOCIATION
(the "Association"),
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:'REPLAT AND BILL OF ASSURANCE
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consisting of all Owners of Lots in the Community. A complete
copy of the By -Laws of the Association is attached to and made
a part of this instrument as Exhibit A. Upon acquiring title
to a Lot, the Owner shall automatically become a member of the
Association and shall retain membership until such time as such
ownership ceases for any reason, whether by sale or otherwise.
(b) Responsibility for the actual operation of the
Community shall be reposed in the Association in accordance
with the provisions of this Instrument. The Association shall
be responsible to the Community, but may delegate the
responsibility for the operation and administration of the
Community to a managing agent.
12. Lien for Expenses of Administration and Maintenance.
(a) The Owners of Lots are bound to contribute toward the
expenses of administration and of maintenance and repair of the
Private Common Area and toward other expenses lawfully assessed
specifically including, but not limited to, property and
liability insurance for the Community and maintenance and
repair of the roof and exterior of the Building, parking, drive
and walkways, landscaping, if any, amounts needed for working
capital, if any, a reserve fund for maintenance, repair and
replacements and amount needed to pay deficits for any prior
years.
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REPLAT AND BILL OF ASSURANCE
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(b) Each Lot shall be assessed One -twelfth (1/12th) of
the total amount of such assessments. Each and all such
assessments (together with interest, costs and reasonable
attorney's fees, if delinquent) shall be, constitute and remain
a continuing lien on the Lot (and all appurtenances) against
which such assessment is made until paid, which lien shall run
with the land, and shall be binding as a covenant on present
and future Owners,, their, heirs, successors and assigns. Each
Owner of any Lot by acceptance of a deed of conveyance or by
entering into a contract of purchase of any Lot in the
Community, whether or not it shall be expressed in any such
deed, contract of purchase or other conveyance, shall be
conclusively deemed to covenant and agree to pay all
assessments made against that Lot. Such lien shall be prior to
all other liens excepting only the lien of any first mortgage
or similar duly recorded encumbrance.
(c) Each such assessment, together with interest,
costs and reasonable attorney's fees, shall be the personal
obligation of the Owner and of his successor in title. The
Ass-)ciation shall have the right to add a penalty not to exceed
Twenty percent (20%) of the amount due for failure to pay
assessments. Assessments not paid when due shall be delinquent
and, if not paid within Twenty (20) days after the due date,
the assessment shall bear interest from the date of delinquency
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Page 18
until paid at the rate of Ten percent (10%) per annum, and may
be enforced and collected by an action at law against those
personally obligated to pay same, and/or the lien securing same
may be enforced by a foreclosure action against the Lot upon
which such assessment was made in the manner provided by law
for foreclosure of mortgages, and interest, costs and
reasonable attorneys' fees in any such court action shall be
added to and collected as a part of such assessments.
(d) If any Owner shall fail or refuse to pay -the
assessment levied on his Lot, the Association shall, if
necessary, levy an additional assessment on the remaining Lots
in the aggregate amount of the unpaid assessment. Such
additional assessment shall be treated as a loan from the
Owners of the Lots assessed to the Association and shall bear
interest at the rate of Ten percent (10%) per annum from the
date of the advance until paid. Such assessment/loan shall be
repaid to such Owners at the earliest practical date.
(e) The Association shall levy the assessments at an
Annual Meeting or any Special Meeting of the Council, as
defined in the By -Laws of the Association. At the Annual
Meeting of the Council, the Council shall adopt a budget for
the ensuing year and shall determine whether the assessments
shall be payable in one or more installments. The Annual
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REPLAT AND BILL OF ASSURANCE
Page 19
Meeting or any Special Meeting of the Council may also levy a
special assessment for any purpose permitted in this Instrument.
13. Amendments. (a) Except for alterations in the size of
the Lots or the One -twelfth (1/12th) ownership of the Owners in
the Private Common Area and assets in the Association and all
rights and obligations incident thereto, which cannot be
altered without the consent of all Owners affected, the
provisions of this• Instrument may be amended pursuant to the
provisions hereof.
(b) Notice of the subject matter of any proposed
amendment in reasonably detailed form shall be included in the
notice of any meeting at which the proposed amendment is to be
considered by the Association. A resolution adopting the
proposed amendment may be proposed by any Owner. An amendment
must receive the approval of Owners of Five -sixths (5/6) of the
Lots of the Community to be adopted.
(c) A copy of each amendment to this Instrument shall
be certified by at least two officers of the Association as
having been duly adopted and shall only be effective when
recorded with the Circuit Clerk and Ex-Officio Recorder of
Pulaski County, Arkansas. Copies of all amendments shall be
sent to each Owner.
(d) Notwithstanding anything to the contrary herein,
(i) no amendment to this Instrument or to the By -Laws of the
(061184/0135a)
REPLAT AND MILL OF ASSURANCE
Page 20
Community shall be valid which adversely affects the rights
reserved by the Grantor herein, or in the By -Laws of the
Association, unless such rights shall have been waived by the
Grantor in writing; and (ii) the Grantor shall have the right
to amend this instrument as provided in Paragraph 14.
14. Provisions Relating to Grantor. The provisions hereof
to the contrary notwithstanding;
(a) The Grantor specifically disclaims any warranty
or representation made in connection with the Land or with the
sale of the Units except as specifically set forth therein. No
person shall rely upon any warranty or representation not so
specifically made;
(b) To provide consistent, stable and knowledgable
management during the early years of the Community, the Grantor
shall have the right to designate itself or another person as
the managing agent for the Association and to enter into a
contract with said managing agent on behalf of the Association
for the first five years of operation of the Community
subsequent to its effective date. The term °effective date" as
used herein shall mean the date on which this Instrument is
filed with the Circuit Clerk and Ex-Officio Recorder of Pulaski
County, Arkansas. The fees payable to any managing agent
designated by the Grantor shall be reasonable and shall not
(061184/0135a)
r
. I.
i
REPLAT AND BILL OF ASSURANCE
Page 21
exceed those customarily
situated;
charged for Communities similarly
(c)
Until the Grantor has sold and
conveyed
all
of
the Lots in
the Community, neither the Owners
of Lots
nor
the
Association shall interfere with the sale of the Lots by the
Grantor. The Grantor may make such use of the Lots owned by it
and the Private Common Area as may facilitate sales, including,
but not limited to,, maintenance of a sales office, the showing
of the Lots and Units and the display of signs; and
(d) Until all of the Lots in the Community are sold
and conveyed, the Grantor shall have the right from time to
time, without the approval of the Owners of Lots, to amend the
provisions hereof and the By -Laws of the Association, for the
purpose of facilitating the marketing of the Lots of the
Community, in complying with the requirements pertaining to the
Community made by financial institutions, title companies and
governmental authorities and for any other reasonable purpose.
15. Miscellaneous Provisions. (a) Whenever the context so
permits, the use of plurals shall include the singular and vice
versa and any gender shall be deemed to include all genders-
(b) If any term, covenant, provision, phrase or other
part of this Instrument is held to be invalid or unenforceable
for any reason, such holding shall not be deemed to affect,
(061184/0135a)
REPLAT AND BILL OF ASSURANCE
Page 22
alter, modify or impair in any manner whatsoever the remaining
terms, provisions, covenants and parts hereof.
(c) Whenever in this Instrument it is provided that
any person shall or will make any payment or perform or refrain
from performing any act or obligation, each such provision
shall, even though not so expressed, be construed as an express
agreement to make such payment or to perform or not to perform,
as the case may be,,, such act or obligation.
(d) The captions used in this Instrument are
inserted solely as a matter of convenience and shall not be
relied upon or used in construing the effect or meaning of any
of the provisions hereof.
(e) The right to amend, modify, extend, change and/or
cancel shall exist at all times before March 11 2004, and shall
also exist at all times during each and every one of the
successive Ten (10) year periods provided for hereinafter and
shall become effective when each such instrument is filed for
record in the office of the Recorder of Pulaski County,
Arkansas.
(f) The covenants, restrictions, and provisions of
this instrument shall be automatically extended for successive
periods of Ten (10) years each on and after March 1, 2004,
unless and until amended or cancelled as authorized
hereinbefore then such automatic extensions for successive
(061184/0135a)
J
f
REPLAT AND BILL OF ASSURANCE
Page 23
periods of Ten (10) years each shall apply to this instrument
as so changed.
(g) Each Owner shall be governed by and shall comply
with the terms of the Replat and Bill of Assurance and all
Rules adopted pursuant thereto. Any default in compliance
therewith by an Owner shall entitle the Association or the
other Owners to institute legal proceedings for recovery of
damages, injunctive relief, foreclosure of lien or any
combination thereof.
(h) Each Owner shall be liable for the expense of any
maintenance, repair or replacement rendered necessary by his
act, neglect or carelessness or by the act of any member of his
family or his guests, employees, agents or lessees, but only to
the extent that such expense is not met by the proceeds of
insurance carried by the Association. Such liability shall
include any increase in fire insurance rates occasioned by the
use, misuse, occupancy or abandonment of any apartment or its
appurtenances.
( i ) The failure of the Association or of any Owne
enforce any_ right, provision, covenant or condition r
herein shall not be construed as a waiver of the
Association or other Owner to enforce such right,
covenant or condition in the future.
(061184/0135a)
REPLAT AND BILL OF ASSURANCE
Page 24
EXECUTED this the ,�f day of June, 1984.
HI -BID PARTNERSHIP
APPROVED:
LITTLE ROCK PLANNING COMMISSION
By:
ACKNOWLEDGMENT
STATE OF ARKANSAS)
) ss.
COUNTY OF PULASKI)
On this the 0?j day of June, 198, b fo a me, the
undersigned officer, personally appeared lJ , who
acknowleged himself to be a partner of HI -BID PARTNERSHIP, a
partnership, and that he, as such partner, being authorized so
to do, executed the foregoing instrument for the purposes
therein contained, by signing the name of the partnership by
himself in such capacity.
IIJ WITNESS WHEREOF I hereunto set my hand and official seal.
i,
i My Commission Expires:
Notary Public
(061184/0135a)
BY-LAWS
OF
STONELEIGH COURT OWNERS ASSOCIATION,
the administrative body of
the Owners of
Lots One (1) to Twelve (12),Inclusive,
STONELEIGH COURT,
an Addition to the City of Little Rock
HI -BID PARTNERSHIP, being the Grantor in the attached and
foregoing Replat and Bill of Assurance which establishes
STONELEIGH COURT as an Addition to the City of Little Rock (the
"Community"), does hereby declare that the following are the
duly adopted By -Laws of STONELEIGH COURT OWNERS ASSOCIATION and
that they shall govern the administration of the Community as
provided in the Replat and Bill of Assurance.
ARTICLE I.
ORGANIZATION
SECTION 1. Identity. These are the By -Laws of STONELEIGH
lzb
COURT OWNERS ASSOCIATION (the "Association"). The Association
is the administrative body of the Owners of Lots One (1) to
Twelve (12), inclusive, STONELEIGH COURT, an Addition to 'the
City of Little Rock (the "Community").
The Association may be incorporated as an Arkansas
non-profit corporation, if the Association so elects.
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 2
SECTION 2. Principal Office. The principal office of the
Association shall be maintained at a place designated by the
Association.
SECTION 3. Applicability of By -Laws. The provisions of
these By -Laws shall apply to the entire Community. All present
and future owners, mortgagees, lessees and occupants of Units
and their employees, or any other persons who might use the
facilities of the Community in any manner, shall be subject to
the provisions set forth herein, to the Rules adopted by the
Association and to the provisions of the Replat and Bill of
Assurance establishing the Community. The acceptance of a deed
or conveyance, or the entering into of a lease, or the act of
occupancy of an Unit shall constitute an acceptance of, and an
agreement to be bound by, the provisions hereof, the Rules
adopted by the Association and the provisions contained in the
Replat and Bill of Assurance.
SECTION 4. Reference to Replat and Bill of Assurance. All
terms defined in the Replat and Bill of Assurance shall have the
same meaning in these By -Laws.
ARTICLE II
COUNCIL OF OWNERS
SECTION 1. Membership in Council of Owners. All Owners of
Units in the Community shall be members of the Association. The
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 3
body of members convened in a meeting to transact the business of
the Association shall be called the Council of Owners (the
"Council").
SECTION 2. Annual Meeting. The annual meeting of the
Council shall be held on the first Tuesday of June of each year.
SECTION 3. Special Meetings. Special meetings of the
Council may be held at any time upon the call of the President or
upon written petition signed by Owners of Two (2) or more of the
Lots. Upon receipt of the President's call or upon receipt of a
petition of Owners as provided in this section, the Secretary
shall give notice of the meeting to all members of the Council.
SECTION 4. Notice of Meetings. A written or printed notice
of every meeting of the Council, stating whether it is an annual
or special meeting, the authority for the call of the meeting,
the place, date, and hour thereof, and the purpose therefor shall
be given by the Secretary or the person or persons calling the
meeting at least ten (10) days before the date set for such
meeting. Notice of meetings shall be given to each Owner by (a)
Qzr
leaving the notice with him personally; (b) by leaving the notice
at his residence or usual place of business; (c) by mailing it,
postage prepaid, addressed to his residence as it appears on the
records of the Council; or, (d) if such Owner cannot be located
by reasonable efforts, by publishing the notice in any newspaper
of general circulation in Pulaski County, Arkansas, not more than
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 4
once, the publication thereof to be not less than Three (3) days,
nor more than Ten (10) days prior to the meeting date. If notice
is given pursuant to the provisions of this section, the failure
of any Owner to receive actual notice of the meeting shall in no
way invalidate the meeting or any proceedings conducted thereat.
The Owners of record who are Owners according to the records of
the Council as of Twenty-one (21) days prior to the meeting date,
shall be the Owners entitled to receive the notice provided for
herein.
SECTION 5. Notice to Mortgagees. Upon written request for
notice of meetings mailed by certified mail, addressed to the
Secretary of the Council at the address of the Association, the
holder of any duly recorded mortgage against any Lot --shall be
given a copy of any and all notices permitted or required to be
given pursuant to the provisions of these By -Laws.
SECTION 6. Adjournment of Meetings. If any meeting of the
Council cannot be held because of the lack of a quorum, a
Majority of the Owners, as hereinafter defined, who are present
1z
at the meeting, either in person or by proxy, may adjourn the
meeting to a time not less than Forty-eight ( 48 ) hours from the
time the original meeting was called.
SECTION 7. Order of Business. The order of business at all
meetings of the Council of Owners shall be as follows:
(a) Roll Call;
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 5
(b)
Proof of
Notice of
Meeting;
(c)
Reading of
Minutes
of Preceding Meeting;
(d)
Report of
Officers;
(e)
Report of
Board of
Directors;
(f)
Report of
Committees;
(g)
Election
of Members
of Board of
Directors
(when so
required);
(h) Unfinished Business;
(i) Review of Insurance Policy and Coverage;
(j) Budget Report; and
W New Business.
SECTION 8. Majority of Owners. As used in these By -Laws,
the term "Majority of Owners" shall mean the Owners of more than
half of the Lots.
SECTION 9. Quorum. Except as otherwise provided in these
By -Laws, the presence in person or by written proxy of a Majority
of the Owners of all Lots shall constitute a quorum at all
meetings of the Council.
SECTION 10. Majority Vote. When a quorum has gathered, the
vote of a Majority of the Owners present in person or by proxy at
any meeting of the Council, shall be binding upon all Owners for
all purposes except where a higher percentage vote is required by
law, by the Replat and Bill of Assurance or by these By -Laws.
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 6
SECTION 11. Voting. Any person, firm, corporation, trust or
other legal entity, or a combination thereof, owning any Lot in
the Community, duly recorded in his name, as evidenced by the
records of the Circuit Clerk and Ex-Officio Recorder of Pulaski
County, Arkansas, shall be a member of the Council of Owners.
One (1) vote shall be allocated to each Lot. The authority given
by an Owner to another person to represent him at such meetings
of the Council shall be in writing, signed by the delegating
Owner, or if a Lot is jointly owned, by all joint Owners, or if
the Owner is a corporation, by the proper corporate officer
thereof, and shall be filed with the Secretary. Unless limited
by its terms, the authority shall be deemed good until revoked in
writing. An executor, administrator, guardian, or trustee may
vote in person or by proxy at any meeting of the Council with
respect to any Lot owned or held by him in such capacity, whether
or not the Lot shall have been transferred to him by a duly
recorded conveyance. In case the Lot shall not have been so
transferred, he shall satisfy the Secretary that he is the
executor, administrator, guardian, or trustee holding the Unit in
his representative capacity. When any Lot is owned by two or
more persons jointly, according to the records of the Council,
the vote therefor may be exercised by any one of the joint Owners
present in the absence of a protest of the other or others;
otherwise, the vote therefor shall be divided among and exercised
Exhibit A to Replat and Bill of Assurance
(0136a/061104)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 7
by the joint Owners in the proportions of their undivided
Ownership in such Lot.
SECTION 12. Waiver of Notice; Action. Whenever any notice
is required to be given, a waiver thereof in writing signed by
the person entitled to such notice, whether before or after the
time stated therein, shall be equivalent to the giving of such
notice. The attendance of any person at a meeting without
protesting the lack of proper notice prior to or at the
commencement of the meeting, shall be deemed to be a waiver by
him of notice of such meeting. Action taken by a majority of the
Council without a meeting shall be valid action nevertheless if
either before or after such action is taken all members of the
Council sign and file with the secretary, for inclusion in the
record book, a memorandum showing the nature of the action taken,
that each member of the Council consented to the Council acting
informally in respect to such matter, and showing the names of
the members who approve the action taken and the names of those
who oppose it.
ARTICLE III
BOARD OF DIRECTORS
SECTION 1. Number and Qualification. The affairs of the
Community at the option of the Council may be administered by a
Board of Directors (herein called the "Board") composed of Three
(3) persons, all of whom shall be Owners, the spouses of Owners
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 8
or mortgagees of Lots. If a Lot is owned by a partnership,
partners and employees of the partnership may be members; if a
Lot is owned by a corporation, officers, shareholders, or
employees of the corporation may be members. If the Council does
not establish a Board of Directors, all powers, duties and
authority of the Board shall remain with the Council.
SECTION 2. Powers and Duties. The Board of Directors shall
have all powers and duties necessary for the efficient management
of the affairs of the Community and may do all acts which are not
prohibited by law, by the provisions of these By -Laws or by the
Replat and Bill of Assurance establishing the Community. The
powers and duties to be exercised by the Board of Directors shall
include, but shall not be limited to, the following:
(a) Operation, care, upkeep and maintenance of the Private
Common Area including the employment of persons for
such purposes.
(b) Determination and assessment of the amounts required
for operation, maintenance and other affairs of the
Community.
(c) Collection of the common charges and assessments from
all Owners.
(d) Employment and dismissal of personnel required in the
efficient operation and maintenance of the Community.
(e) Adoption and amendment of rules and regulations
governing the details of the operation and the use of
the Private Common Area and other matters related to
the Community (the "Rules").
(f) Opening of bank accounts on behalf of the Association
and designating the signatories required therefor.
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 9
(g) Obtaining insurance for the Community.
(h) Making repairs, additions and improvements to, or
alterations of, the Community whenever required, and
making repairs to and restoration of the Community
after damage or destruction by fire or other casualty.
(i) Employing attorneys, accountants, engineers and other
professionals as shall be necessary for the proper
conduct of the business of the Association or the
Community.
SECTION 3. managing Agent. The Board of Directors may
employ a managing agent to perform such duties and services as
the Board shall authorize. The Board may delegate to any such
managing agent all the powers granted to the Board by these
By -Laws.
SECTION 4. Election and Term of Office. The directors
shall be elected by a Majority of the Owners present in person
or by proxy at the annual meeting of the Council. At the first
annual meeting of the Council, the term of office of One (1)
director shall be fixed for Three (3) years. The term of
office for One (1) director shall be fixed at Two (2) years,
and the term of office for one director shall be fixed at One
(1) year. At the expiration of the initial term of office of
each director, his successor shall be elected to serve a term
of Three (3) years. The directors shall hold office until
their successors have been elected and hold their first meeting.
SECTION 5. Vacancies. Vacancies in the Board of Directors
caused by any reason other than the removal of a director by
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 10
vote of the Council, shall be filled by a majority vote of the
remaining directors. Each person so elected shall be a member
of the Board until a successor is elected at the next annual
meeting of the Council.
SECTION 6. Removal of Directors. At any regular meeting
or special meeting of the Council, any one or more of the
directors may be removed with or without cause by a Majority
of the Owners present in person or by proxy, and a successor
may then and there be elected to fill the vacancy thus
created. Any director whose removal has been proposed by the
Owners shall be given an opportunity to be heard at the
meeting. The Council may dissolve the Board in like manner.
SECTION 7. Compensation. Directors shall receive no
compensation for their services and no remuneration shall be
paid to a director for services performed by him for the
Council in any other capacity, unless a resolution authorizing
such remuneration shall have been approved by a Majority of
those Owners present in person or by proxy before the services
are undertaken.
SECTION 8. Organizational Meeting. The first meeting of a
newly elected Board of Directors shall be held within one week
of election at such place as shall be fixed by the directors at
the Council meeting at which they were elected.
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 11
SECTION 9. Regular Meetings. Regular meetings of the
Board of Directors may be held at such time and place as shall
be determined, from time to time, by a majority of the Board.
Notice of regular meetings of the Board shall be given to each
director, personally or by mail, addressed to his residence, or
by telephone, at least three (3) days prior to the day named
for the meeting.
SECTION 10. Special Meetings. Special meetings of the
Board may be called by the President on three (3) days notice
to each director, given personally or by mail, addressed to his
residence, or by telephone, which notice shall state the time,
place, and purpose of the meeting.
SECTION 11. Waiver of Notice; Action. Whenever any notice
is required to be given, a waiver thereof in writing signed by
the person entitled to such notice, whether before or after the
time stated therein, shall be equivalent to the giving of such
notice. The attendance of any person at a meeting without
protesting the lack of proper notice prior to or at the
commencement of the meeting, shall be deemed to be a waiver by
him of notice of such meeting. Action taken by a majority of
the Board without a meeting shall be valid action nevertheless
if either before or after such action is taken all members of
the Board sign and file with the secretary, for inclusion in
the record book, a memorandum showing the nature of the action
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 12
taken, that each member of the Board consented to the Board
acting informally in respect to such matter,and showing the
names of the members who approve the action taken and the names
of those who oppose it.
SECTION 12. Board of Director's Quorum. At all meetings
of the Board, a majority of the directors shall constitute a
quorum for the transaction of business, and the acts of a
majority of the directors present at a meeting at which a
quorum is present shall be the acts of the Board. If, at any
meeting of the Board, there be less than a quorum present, the
majority of those present may adjourn the meeting from time to
time. At any such reconveyed meeting, any business which might
have been transacted at the meeting as originally called may be
transacted without further notice.
SECTION 13. Fidelity Bonds of Officers and Employees.
The Board of Directors shall obtain adequate fidelity bonds for
all officers and employees of the Association handling or
responsible for Association funds. The premiums on such bonds
shall constitute a common expense and shall be paid with
Association funds.
SECTION 14. Indemnification of Directors and Officers.
(a) The Association shall indemnify any person who was or is a
party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding, whether civil,
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY. -LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 13
criminal, administrative or investigative (other than an action
by or in the right of the Association) by reason of the fact
that he is or was a director, officer, employee or agent of the
Association, or is or was serving at the request of the
Association as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other
enterprise, against expenses (including attorneys' fees),
judgments, fines and amounts paid in settlement actually and
reasonably incurred by him in connection with such action, suit
or proceeding if he acted in good faith and in a manner he
reasonably believed to be in or not opposed to the best
interests of the Association, and, with respect to any criminal
action or proceeding, had no reasonable cause to believe his
conduct was unlawful. The termination of any action, suit or
proceeding by judgment, order, settlement, conviction, or upon
a plea of nolo contendere or its equivalent, shall not, of
itself, create a presumption that the person did not act in
good faith and in a manner which he reasonably believed to be
in or not opposed to the best interests of the Association,
and, with respect to anv criminal action or proceeding, had
reasonable cause to believe that his conduct was unlawful.
(b) The Association shall indemnify any person who
was or is a party or is threatened to be made a party to any
threatened, pending or completed action or suit by or in the
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 14
right of the Association to procure a judgment in its favor by
reason of the fact that he is or was a director, officer,
employee or agent of the Association, or is or was serving at
the request of the Association as a director, officer, employee
or agent of another corporation, partnership, joint venture,
trust or other enterprise against expenses (including
attorneys" fees) actually and reasonably incurred by him in
connection with the defense or settlement of such action or
suit if he acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the
Association and except that no indemnification shall be made in
respect of any claim, issue or matter as to which such person
shall have been adjudged to be liable for negligence or
misconduct in the performance of his duty to the Association
unless and only to the extent that the court in which such
action or suit was brought shall determine upon application
that, despite the adjudication of liability but in view of all
circumstances of the case, such person is fairly and reasonably
entitled to indemnity for such expenses which such court shall
deem proper.
(c) To the extent that a director, officer, employee
or agent of the Association has been successful on the merits
or otherwise in defense of any action, suit or proceeding
referred to in subsections (a) or (b), or in defense of any
Exhibit A to Replat and Hill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 15
claim, issue or matter therein, he shall be indemnified against
expenses (including attorneys' fees) actually and reasonably
incurred by him in connection therewith.
(d) Any indemnification under subsections (a) or (b)
(unless ordered by a court) shall be made by the Association
only as authorized in the specific case upon a determination
that indemnification of the director, officer, employee or
agent is proper in the circumstances because he has met the
applicable standards of conduct set forth in subsections (a) or
(b). Such determination shall be made (1) by the Board of
Directors by a majority vote of a quorum consisting of
directors who were not parties to such action, suit or
proceeding, or (2) if such a quorum is not obtainable, or, even
if obtainable a quorum of disinterested directors so directs,
by independent legal counsel in a written opinion, or (3) by
the Council of Owners.
(e) Expenses (including attorneys' fees) incurred in
defending a civil or criminal action, suit or proceeding may be
paid by the Association in advance of the final disposition of
such action, suit or proceeding as authorized in the manner
provided in subsection (d) upon receipt of an undertaking by or
on behalf of the director, officer, employee or agent to repay
such amount unless it shall ultimately be determined that he is
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 16
entitled to be indemnified by the Association as authorized in
this section.
(f) The indemnification provided by this Article
shall not be deemed exclusive of any other rights to which
those indemnified may be entitled under any bylaw, agreement,
vote of Council of Owners or disinterested directors or
otherwise, both as to action in his official capacity and as to
action in another capacity while holding such office, and shall
continue as to a person who has ceased to be a director,
officer, employee or agent and shall inure to the benefit of
the heirs, executors and administrators of such a person.
(g) The Association shall have power to purchase and
maintain insurance on behalf of any person who is or was a
director, officer, employee or agent of the Association, or is
or was serving at the request of the Association, as a
director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other_ enterprise against
any liability asserted against him and incurred by him in any
such capacity or arising out of his status as such, whether or
not the Association would have the power to indemnify him
against such liability under the provisions of this section.
(h) The powers and duties of the Association to
indemnify any person under this Article shall apply with equal
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 17
force whether an action, suit or proceeding is threatened or
commenced in this State or outside this State.
ARTICLE IV
OFFICERS
SECTION 1. Designation. The principal officers of the
Association shall be a President, a Secretary, and a Treasurer,
all of whoa shall be elected by the Council. Any two or more
offices may be held by the same person except the offices of
President and Secretary. The Board may appoint an assistant
secretary -treasurer, and such other officers as in their
judgment may be necessary. The President and may be but shall
not be required to be, members of the Board of Directors. if
not an elected member of the Board, the President shall serve
as an Ex-officio member of the Board of. Directors without
voting rights.
SECTION 2. Election of Officers. The officers of the
Association shall be elected annually by the Council and shall
hold office at the pleasure of the Council.
SECTION 3. Removal of Officers. Upon an affirmative vote
of a Majority of the Owners attending a meeting of the Council,
any officer may be removed, either with or without cause, and
his successor elected at any regular or special meeting of the
Council.
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 18
SECTION 4. President. The President shall be the chief
executive officer of the Association. He shall preside at all
meetings of the Council and of the Board of Directors. He
shall have all the general powers and duties usually vested in
the office of President of an association, including but not
limited to power to appoint committees from among the Owners
from time to time as he may in his discretion decide is
appropriate to assist in the conduct of the affairs of the
Association.
SECTION 5. Secretary. The Secretary shall keep the
minutes of all meetings of the Council of Owners and of the
Board of Directors. He shall have charge of such books and
papers as the Board may direct and he shall in general, perform
all duties incident to the office of Secretary of a business
corporation organized under the laws of the State of Arkansas.
SECTION 6. Treasurer. The Treasurer shall have the
responsibility for Association funds and securities, and shall
be responsible for keeping full and accurate financial records
and books of account showing all receipts and disbursements,
and he shall prepare all required financial statements. He
shall be responsible for the deposit of all moneys and other
valuable effects in the name of the Board, or its designee, in
such depositories as may from time to time be designated by the
gore
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 19
SECTION 7. Agreements, Contracts, Deeds, Checks, Etc. All
agreements, contracts, deeds, leases, checks and other
instruments affecting the Community or the Association shall be
executed by any two officers of the Association or by, such
other person or persons as may be designated by the Board.
SECTION 9. Compensation of Officers. No officer shall
receive compensation from the Association for acting as such
unless approved by the Council.
ARTICLE V.
MISCELLANEOUS
SECTION 1. Notices. All notices to the Association shall
be sent by registered or certified mail, to the office of the
Association or to such other address as the Board may hereafter
designate from time to time. All notices to any Owner shall be
sent by ordinary first class mail to his apartment or to such
other address as may have been designated by him from time to
time, in writing, to the Board of Directors. All notices shall
be deemed to have been given when mailed, except notices of
change of address which shall be deemed to have been given when
received.
SECTION 2. Severability. The provisions hereof shall be
deemed to be severable, and the invalidity, partial invalidity
or unenforceability of any one portion or provision of these
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 20
By -Laws shall not affect the validity or enforceability of any
other provision hereof.
SECTION 3. Captions. The captions contained in these
By -Laws are inserted only as a matter of convenience and for
reference and in no way define, limit, or prescribe the scope
of these By -Laws or the intent of any provision thereof.
SECTION 4. Gender. The use of the masculine gender in
these By -Laws shall be deemed to include the feminine and
neuter genders and the use of the singular shall be deemed to
include the plural, and vice versa wherever the context so
requires.
SECTION 5. Waiver. No restriction, condition, obligation
or provision contained in these By -Laws shall be deemed to have
been abrogated or waived by reason of any failure to enforce
the same, regardless of the number of violations or breaches
thereof which may occur.
SECTION 6. Interpretation. The provisions of these
By -Laws shall be liberally construed to effectuate their
purpose of creating a uniform plan for the development and
operation of the Owners of Lots One (1) to Twelve (12),
inclusive, STONELEIGH COURT, an Addition to the City of Little
Rock. Whenever in these By -Laws it is provided that any person
shall or will make any payment or perform or refrain from
performing any act or obligation, each such provision shall,
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 21
even though not so expressed, be construed as an express
agreement to make such payment or to perform or not to perform,
as the case may be, such act or obligation.
SECTION 7. Conflicts. In the event of any conflict
between any of the terms of these By -Laws and the terms of the
Replat and Bill of Assurance establishing the Community, the
terms and provisions of the Replat and Bill of Assurance shall
control.
SECTION 8. Amendment. These By -Laws may be amended,
modified, or revoked from time to time by vote of the members
of the Council of Owners whose aggregate interest in the
Community constitutes Two-thirds (2/3) or more of the Lots, at
a meeting duly called for that purpose; provided, however, that
no modification of or amendment to these By -Laws shall be valid
unless set forth in a recorded instrument which shall be
recorded in the office of the Circuit Clerk and Ex-Officio
Recorder of Pulaski County, Arkansas. The provisions of
Paragraph 14 of the Replat and Bill of Assurance shall also
apply to these By -Laws.
IN WITNESS WHEREOF, the undersigned Owner of the Property
hereby declares that the foregoing are the By -•Laws of the
Stoneleigh Court Owners Association, the administrative body of
the Owners of Lots One (1) to Twelve (12), inclusive,
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
7
BY-LAWS OF STONELEIGH COURT OWNERS ASSOCIATION
Page 22
STONELEIGH COURT, an Addition to the City of Little Rock,
this � day of June, 1984.
HI -BID PARTNERSHIP
ACKNOWLEDGMENT
STATE OF ARKANSAS)
) ss.
COUNTY OF PULASKI)
On this the ,2d day of June, 1984, be o e me, the
undersigned officer, personally appeared �'j,(J f�� , who
acknowleged himself to be a partner of HI -BID PARTNERSHIP, a
partnership, and that he, as such partner, being authorized so
to do, executed the foregoing instrument for the purposes
therein contained, by signing the name of the partnership by
himself in such capacity.
IN WITNESS WHEREOF I hereunto set my hand and official seal.
040_7'�� A'z_d�
Notary Public
My Commission Expires:
' q�/
Exhibit A to Replat and Bill of Assurance
(0136a/061184)
,ern
CITY OF AT�E)'ROM,
NO. OFFICE OF COMPREHENSIVE PLANNING
FILING FEES
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Rezoning Application . VIM& r, i73io;iC�i�• $
Board of Adj ustment Appl i cati o6ty of UITLE ROCS $
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Preliminary Plat . . . . . . . . . . . . . . . . $
Final Plat
Street Name Signs: No. Signs At Ea. . . . $
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