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HomeMy WebLinkAboutS-0528-A ApplicationCITY OF LITTLE ROCK NO. OFFICE OF COMPREHENSIVE PLANNING FILING FEES Little Rock, Ark. lg� Rezoning Application $ Board of Adjustment Application. . . . . . . . $ Preliminary Plat $ Final -R-1at .�: �'f4. . . . . . . $. f q Street Name Signs: No. Signs At Ea. $ kQ ion e ; TOTAL $ BY: 17JZ 7 7'4 File No.: Address: Applicant REPLAT AND BILL OF ASSURANCE OF LOTS ONE (1) TO TWELVE (12), INCLUSIVE, STONELEIGH COURT, AN ADDITION TO TOE CITY OF LITTLE ROCK HI -BID PARTNERSHIP to THE PUBLIC KNOW ALL MEN BY THESE PRESENTS: WHEREAS, HI -BID PARTNERSHIP (the "Grantor") owns the following described lands lying in Pulaski County, Arkansas, to -wit: 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 "Land"), which is shown on, the plat attached to and made a part of this instrument (the "Plat") as Private Common Area and Lots One (1) to Twelve (12), inclusive, STONELEIGH COURT, an Addition to the City of Little Rock, Pulaski County, Arkansas; and WHEREAS, it is deemed desirable by the Grantor that the Land be subdivided into lots and private common area; and WHEREAS, by this Plat and Bill of Assurance, the Grantor intends to create for their benefit, and for the mutual benefit of all future owners of the Land, certain rights, easements, covenants and conditions governing the use, enjoyment and maintenance of the Land; (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 2 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: 1. Description of Land. The underlying realty for the Lots and Private Common Area was formerly platted as ?SLO FILL THIS IN?to the City of Little Rock, Arkansas. The Property is owned by the Grantor in fee simple absolute, subject to easements, restrictions and mortgages existing and/or of record. the Land (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 3 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 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. (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 4 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 (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 (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 5 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 Egress. An easements through and across the Private Common Area for ingress, egress and regress for all Owners of the Lots and their invitees. (b) Maintenance, Re air, and Replacement. An easements 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. (c) Structural Support. Every portion of any Lot or 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 easements is created through all Lots and Private Common Area for all facilities for utility services within the Building, which shall include, but not be (Draf t/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 6 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 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: (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 7 (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 or which will cause the cancellation or increase the rate of insurance on the Private Common Area or any Unit, without the prior consent of the Association. (c) No animals, livestock, insects or poultry of any kind shall be raised, bred or kept on any Lot, in any Unit or in the Private Common Area, except that household pets may be kept in Units subject to the Rules of the Association. (d) No noxious or offensive activity shall occur on any Lot, in any Unit or in the Private Common Area, nor shall anything be done therein which may be or become an annoyance or nuisance to the other Owners. (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 8 (e) Nothing shall be altered or constructed in or removed from the Private Common Area, except upon the written permission of the Association. (f) No advertisements, signs, or posters shall be erected or displayed on or about the Land, except such as may be authorized in advance by the Association and except for One (1) sign affixed to a unit advertising that unit for sale or lease. (g) Due care shall be exercised at all times with regard to noise and all other uses or practices which may be a source of annoyance to Owners of Lots or which may be a nuisance or may interfere with the peaceful possession and proper use of the Property or premises of any other person. (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 single family dwelling purposes. 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 (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 9 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: (i) All portions of the Private Common Area, including but not limited to, the driveways, walkways, and parking areas; (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: (Draft/041184/0135a) REPLAT Page 10 (i) to maintain, repair and replace all portions of his Unit, including but not limited to, the interior walls, ceilings, floor covering, 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 his Lot in a neat and attractive condition at all times; (iii) to maintain, repair and replace the fence along the eastern perimeter of his Lot in a neat and attractive condition in the identical style, color and type as existing on the date of this Instrument, subject to the right of contribution for Common Walls described in (c) below; (iv) to maintain, repair and replace Common Walls as described in (c) below; (v) 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 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 (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 11 (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. (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. (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 12 (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. 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 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 (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 13 costs relate to items for which the Owner(s) of the Unit(s) affected or the Association 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 form 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; (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 of One (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 14 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; (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 15 (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 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 (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 16 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 Communit (a) Administration of the Community shall be vested in an organization called STONELEIGH COURT OWNERS ASSOCIATION (the "Association"), 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. (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 17 (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. (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 (Draf t/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 18 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 Association 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 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. (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 19 (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 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. (Draft/041184/0135a) ZEPLAT AND BILL OF ASSURANCE ?age 20 (b) Notice of the subject matter of any proposed amendment in reasonably detailed form shall be included in the iotice of any meeting at which the proposed amendment- is to be :onsidered by the Association. A resolution adopting the proposed amendment may be proposed by any Owner. An amendment gust receive the approval of Owners of Five -sixths (5/6) of the pots of the Community to be adopted. (c) A copy of each amendment to this Instrument shall )e certified by at least two officers of the Association as laving been duly adopted and shall only be effective when -ecorded with the Circuit Clerk and Ex-Officio Recorder of lulaski County, Arkansas. Copies of all amendments shall be sent .o each Owner. (d) Notwithstanding anything to the contrary herein, ;i) no amendment to this Instrument or to the By -Laws of the :ommunity 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 ;raptor in writing; and (ii) the Grantor shall have the right to emend this instrument as provided in Paragraph 14. 14. Provisions Relating tom= Grantor. The provisions hereof :o the contrary notwithstanding: (a) The Grantor specifically disclaims any warranty or ,epresentation made in connection with the Land or with the sale ►f the Units except as specifically set forth therein. No person ;Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 21 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 exceed those customarily charged for Communities similarly situated; (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, for the purpose of facilitating the marketing (Draft/041184/0135a) REPLAT AND BILL OF ASSURANCE Page 22 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, 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 1, 2004, and shall also exist at all times during each and every one of the (Draft/041184/0135a) May 16, 1984 City of Little Rock Planning Commission City Hall Little Rock, Arkansas 72201 Re: Indiana St. Condo's By: Hi Bid Partnership Dear Sirs: Please consider this to be our request for a final development plan review for the condominiums by Hi Bid Partnership on Indiana Street. Attached are: 1. A copy of the replat and bill of assurance containing a description of the maintenance provisions of the development. 2. A final plat. 3. A survey of the property. 4. A site plan showing existing utilities, location of building, proposed drainage improvements, etc. 5. A letter covering landscaping. 6. A schedule of approximate development dates. 7. A schedule of events for final plat recording. 8. A check for $125.00 for our filing fee. Thank you for your assistance in this matter. Yours truly, HI BID PARTNERSHIP Tom Holmes May 16, 19 84 City of Little Rock Planning Commission City Hall Little Rock, Arkansas 72201 Re: Indiana St. Condos By: Hi Bid Partnership Dear Sirs: We agree to landscape the condominium project on Indiana Street( (lots 16-21, Block 4, Riffel & Rhoten's Forest Park Highlands Addition) to conform to the city landscaping ordinance. We anticipate that we will do considerably more -than minimum landscaping. Yours Truly, HI BID PARTNERSHIP Tom Holmcs t May 16, 1984 City of Little Rock Planning Commission City Hall Little Rock, Arkansas 72201 Re: Indiana St. Condo's By: Hi Bid Partnership Dear Sirs: We plan on having three phases of four units each. Construction on the initial plan should start within 5 weeks. The second and third phases will be started as sales justify. A final plat of each phase will be submitted upon completion of the phase. 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EXECUTED this the day of , 1984. HI -BID PARTNERSHIP By: ACKNOWLEDGMENT STATE OF ARKANSAS) ) ss. COUNTY OF PULASKI) On this the day of , 1984, before me, the undersigned officer, personally appeared , 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. Notary Public My Commission Expires: (Draft/041184/0135a)