Loading...
HomeMy WebLinkAboutS-1301-E Application... ..:,. •�•._ -rr•.r.\�.f.�.. .. _..:'•.�i•i: $.hr7 ..• ;}Roe'y;i:• ...n ... �....� .: •f• .. •r... .• •; ^'U. as .. .ti v .., Re -recorded solely to add legal descriptions for Access and Utility Easement Areas on Exhibit D "-i 41 UIVCOUNTY CLERK This InsL Pnp uW By ees 195.00 Price C. Gardner M Friday, Eldredge & Clack, LLP 2005001125 2000 Reptms Cerdter 01/05/2005 10:39:39 AN 400 Wed Cmitol Filed R Recorded in LittloRo*Arkmsu 72201 Official Records of PAT O'BRIEN PULASKI COUNTY CIRCUIT/COUNTY CLERK, DFZLARATIOPI OF RMS-MMONS AND C0VI:NANfV5 $89.00 COLON, GUNN CENTRE ADDITION THIS DECLARATION OF RBSTRIC IONS AND COVENANTS (this "Dmlardtion") is made as of the day of Dece..,de_, 2004 by Boat l?nterlxtisrs LLC, an Arkansas limited liability cauipatry ("Boer" or Mosel may hereinafter be refer to as the "Granter"). RECITALS WHEREAS, the Ch=for has caused the lands dcamibcd on Exhibit "A- " attached hereto (the "Property') to be surveyed by McGeterick Evamomng, Inc., Engi necrs and Land Surveyors, and a p wpoWd plat made thereof. ideated by the title "Colonel Glen Centre Addition, Little Rook, Adcawas " The pmposed plat be= the wgr;Atuxes sad &eels ofPabut BoL McGeln ck, Regotevd Profcowaal Engineer, mud Robert C. Lowe, Jr., Registered Prof msional Land Surrveyar (tins "Plat', a copy of which is amwjwd hereto as Exhibit_"A•2n and made a part h=eo3, WHEREAS, the Gra= is flue Fee Owner of the Property; WHEREAS, the Grp desires to file this Declaration to protect its interest and the uftrests of othm which may in the [items bwome Fee Own= of a Lot or the Property. Oaf or and those future fee owners may be hm inafhrr asllectively refetTed. to as "Patties" or saVilady as it "Party", and WM MArS, rho Grantor hra+eby establishes, to the fullest exteritpei-mitfed by law, certain covmmis, rwt notions and cbwV* (coRerwdy, the "Resakdot l as are h,mvm flee set forth, subject to which all ofabe PropeiW and every portion tttrv£ stall be improved, held, =haz g4 leased, sold and/or oonvayed. Each of the Rzstricticom is unposed upon each Lot in the .Property w a mutual equitable servitude in favor of the other Lots and every part thereof Each of the R.ostn=uns shall create reciprocal rights and obligations among each of the owe; they shall fitr her create a private contract and estate betwetm wrrent and future owners of the rots and the Props* and their bobs, mwcessvra, sad assigns; and they shall be and operate as covenaa% ramping with the land for the benefit of the Property in each and every part and portion thomf. NOW, THEREFORE in consideraeion of the foregoing, and the covenants and agL�ts'sbt`�irtb herein, the Grantor agrees as follows: t E ciwc % l_� M t-0 CD tea• CD d CD CIQ (OUN1Y. � .... _ . ...........�...... .... .. ,•.,- � ,.... _». .......... ti.. � ., .. .A.. ... � .,... .. >........ ..... Yes... .-._ « ..' �� r. ;y.:+:'... ,.�..::..... x Cr Vk C0C 1. �'tions. QQ i shown as Building thou me shall an se areas �� dng Area., i.e., within the nt sdonk lines or any waiver thamf made by the City of Little Rock and filed of record, on the Site Plan, i.e. which are the areas which arse not within the wd=k lines or areas designated as easements. (b) " Mkat ' shall mean. this Declaration of Restrictions and Covenants» (c)lNftliMn Pond" shall m= that area of the Property located on Lot 21 consixting Of appf0xi=4* 1.2 areas (52.272 square feet), so designated on the .Plat attarbm as Exhibit "A-2". (d) shall mean, that plan asset forth onExhibit " " (e) `� 'shall mean the opening of such business to the publio for at least ninety (90) consecutive days. M e Or %OO._" Shall meam any area separately drawn on &hLbA "A-2" and designated as a Lot and My p:aperty barehaftm convoyed by any Owner located within the boundaries shown on Q�hrbit "A-2" titer the Property, as such may now or hereafter be finally platted, subdivided, r' - platted or ra-mbchvided and all arch Lots oollectively. (e) ty in int agithe 4w+nen" Shell Mean earhoftheOwners ofLo(nWhose, a99re9ahe arcs is grCW=than 499A51 squarefeet (i.e., more than one-half of the square footage contained in, Lots 2 through 7,19, 20 and 211ese the area of the Detention Pond, i.e., based on approximately 24.15 anus, Or.1,051,974 square feek less 52.272 sgam feet of Detention Pored aiea. - 999,702 net square fret in tho Lots x50%-499AS1Mmmfeet). provided,however,noOwnermaymwsom&lywithholdordelayitscount unless Q) the request is to dmp a No Build Area, or (i1) such Owner reasonably believes the enmdnent roquested is in violation ofa law, ot+dinance or govrxamentai regulation. The final actual square footage shall be based on a final Survey of the Property prior to final Pla dM of the Property. (h) "Na =W area" SW mean any area desiPmxd as uearer a boundary Iine fiom a se#xwt luxe, rj*-ofway easettsetrt area or the Detem= Pond whore no vertical conamofjon other, than aigaage shall oorur. Paving and other "flat" m4mvm=ts am allowed m the No Build Area. (i) ' or "Fee Owner" shall mean the Owner of a fee Wtmwt in the Property Developnxnt and theirrive a WMU, grantees, and m==om in interest Owners shall coilemvcly mfm to each Owner. 0) ' 19" collectively shall mean all the Preliminary Plat d=ribing Lots 2 through 7► 19.20 and 21 in Colonel Glean Ceim+eAdditim to the City of Little Rook, Pulaski County, Arlmnsas, a copy of which is atbwJwd hereto as EzNlm t "A 2 R as such may now or hereafter be finally platted, subdivided, re - Platted Orre-m�d.; provided, however, the lomioa of the Access Drives shall not be am uded without the t =row us 000seat of all of the Owners, nor 9hs11 any of the Access hives be allowed to rained with or to gay PrmperLy other than iota 1 through 7,19, 20 or 21, without the consent of all of the Owners. (k) "an 1?ata Share" shall mean the fiwm% pro mtn sham exprmsed as ap=ez gc of the gross square foo tags ofsuch Owner's Lot compared to the total gross square footage of all Lots and the Property (excluding the Detention Pond Area on Lot 21) shown on the Plat (which for purposes of this Deeciarabon " be W,702 s qtm feet). Additionally, withrespect to any ❑bliption to pay axp ee which includes Lot 1 as dafined in Paragraph 19 below, the Pro hats Share of each Lot shall be a4htstod to include gross square i'oo Cage of Lot 1(12.94 acres or 563,666 square fret) in the dear min ator, for a total denominator in such evact of 1,563,W square feet. 0) "ItIW shall mean that Sine Plum attached hereto as x�hihit 'A_3,'. Any terms used on &91fit " - Eahrbit "A ;3" or lSi "C" $hall have the same rom ings herein as attributed to those terms on lixhibit "A-2". gx_hi jt "A " as "C„ 2. s>xlcrn of By�il (a) i4f and A ce, grantor, for so long as Grata owns any interest in the Property, and them4er the Architecrml Committee, mug approve all initial eonstian, including aruhitechrral theme, design, colas, am= and parlmg. All eo mor consWacon most be brick, stucco or arxdw approved masonry ii , excluding concrete block, and using colors appr+aved by the Grantororthe ArebiteabnrW Commaittsa, wthecasemaybe, said approval notto be unreawnably withheldor delayed. All uses thatoonfosm with axiatrag wooing are petted unless prohibited under Secdon 4 of this Declarauom If following initial comwaction of buildings on any Lot, the wdstng exinrior of any then existing building is =bstantially remodeled or Hoare is a rebuilding following a casualty, dm unless the ra modeling or reconstruction is Tally similar to the prior existing exteriors, the archiiecirual them, design, color, maw ala, such retnoddiag or rebuilding shall be subject to the approvals required under this Section 2. Once mihatad, all bar RIu g conatruc&n must be diligently p wd to completion. Any rooftop equwmtwt shall be approphaWy' scrowed. All exle or dimmer or trash disposal locadc= shall be completely ea and with a fWas or other solid wall constructed of materials used in the construcdon ofthe Fee Owner's building land mailer in style and ice and gated such Hutt such durrrpste¢s at omh couuwa ers no to visible fimmr the other Lots. No wood fencing shall be allowed on any Lot Following completion of construc tim of building and impr,av=wts on the Building Area(s), the Owner thereof shall maintain all buildings and other mgxovm= in good won and state of repair, ordinary wear and tear and tare effecto oftime, excepted. 'lU Ambiteowmi Committee shallbo elected bythe Board of Managers of the Owners' Associa m and shall consist of not less than three (3) representative*. (b) jjd&M Restrictiorm, In addition to the height restrictions imposed under the zvniztg sting the Property, no mwtribction for the initial use located on Lots 2, 3, 5 ad 7 as shown on the Plat shall exceed thidy-two fleet (32') in height; provided, however, not more than ten percent (10%) of such building area may be coned to a height not to exceed thirty-six feet (36') for decorative features, chipmcps, parapet walls and odw wTmveinmM that are oonsisteut with the theme of any national orregional obain restaurant or outer busnness to be locebed. thereon. The restrictions under this subparagraph (b) may not be amended or modified without the consent ofthe Owner ofLot 19; provided, however, the sanctions shell automatically terminate and lapse if Lot 19 is no longer used as a hotel or motel. (c) QWggonW&bu2d, In the event the impwv==ta on any Lot era destroyed or damaged by fire or other casualty, the Owner of such Lot shall proceed with due diligence to repair and rebuild such wVmvements in a timely moaner. In the event such Owner elects not to rebuild on the Lot within forty-five (45) days of such damage, than such Lot shall be cleared of all debrie, including the former foundation of any building constructed thereon,, and all non paved areas shall be cowered with sod or other landscaping materials comaisW with the ice of any other unimproved Lots located within the may. ifany- t 3. auildinC rea No building or other etructure shall be constructed upon any Lot in the Pwparly other then wiithin the "Building Arm" on each Lot nor shall any building or other etruolure be oonetruaed in any No Build Area. Notwithstandw the foregoing, canapies and roof overhaaW (mdudmg supporting cohmm orpolars), fiotmdat o doors, trashenclosurea, and loading and delivery doeks, eovtaed areas attached to such doclta, raqu W mnmoy exits (including a s= and landings and footings and f madahm associated therewith), and doaag for regress and egress may project from any building or structure provided that data do not encroach on any odhar Lot; and furihe rproviided, any such projection or extension mint comply with all applicable laws, rules, oadimances and regulatietts of eveay governmental body having j over dto property. Nothing herein shall permit an Owner to violate any required padeing mdos. 4. ". (s) QWZMLgWj0M. The lypea of uses pasnimod in the Property shall be of a retail and/or commean w natmre fouad tin upscale ommurcial dovdopments in Little Rock, Arkansas; provided► nothing contained herein shall be construed to require any Owner to open or operate any form of business in the property for say period of time or at all, but it may operate aqy form, of business not prohibited herein or by law or 00=Wise. 'lie following uses shall be prohibited on the Property: (1) Amy production, maau&oturing, industrial, or storage use of any land or nature, except for storage of products incidental to the gn sale theroof from the Lot. 00 Undesirable eawruLiammt or recreational facilities. As used heteiu, "undesirable tutnWament or recreational haility" iwhrdes, a skating rink, massage parlor, discotheque, dance hall, teen club, night club, bar or tavern, flea mmket, head shop, pornographic or "adult' atom+, bowling alley, or tattoo or body piercing parlor or esteblAment; provided, however such resit'ictkm shall notprohibit N my digoo&jequo, jai& cM, bar or Main located OOMIet* within any hotel OIL motelconstructecl On 4 L,01 C) C) C"i and operated kcidwW to the pt4W 1188 of such Loot (H,) Any use V41job creates a Mliamce, or M&WiaUy increases noise or the emission ordiiat O&w (bd MM inchding mtauraiib w" are otherwise pertnitted), smalm, PUS, does not proserve the SprinkW fire imuraneg rates, or bmqgaaa explosion or radioactive hazards OU ?49090t lots' C,,) A.,,Iling, uaaaUf anin& distilling, refining, 811101ft agk0t"M or moving operation; (V) Any mobile home ortraila tones labor camp, junk Yard, S1WkY44 *""' rais,08 or vela my hoqAb� except the UMVO=y use of omftucti(m ftijas doft the period of Mwft,wdM Coomsolam or maimm�e;►c� awn also be perWVjxL' (vi) Any drilling fur, in Or removal Of mdxwfi= subetwoes (OdM than =241 polppg, sum or submfil-, =v==n=W or other din diltFnce review Or teBdA&, (vill Any dumpW. diaFM29, mmeraft or reduction of VAMP or refuse (exclusive of garbage conqmdm located m the rear of my building); (viij) Any fim sale, ping ant of businew sale, bmikmptcy sole (01IMPUr"u"O gL court order).or auction ham OP@Z2d= (ix) My Outdoor girc=cs, outdoor public mwffilg% or oomm=W laundry pleats; (x) Any -wowd hone ou%ArmyN&vyOr9ovw==t"9mPhW stor-excoPt for UPKAW-type abates; (Xi) Any . qwW alone em'veniem store, liquor *Wnre, tobacco StUM Or Similar business; NO Any avWmodvs or Mick repair or Parts store, car wash or atdetailshop 001 associated with and located vn*m a new automobile of Mick "Gift; (7dfi) Any dry dleanM; (mv) Any fig food r10SWwA4 ad Any pawnshOP, a bwAum whose primary activitY is Ch** cashing, paydbgck low operation, or the like. 7U rogdodow impoped under this . pavagraph 4 WWI be a servitude upon the Property and "l be binding upon ftqaty, whether in fee, by Iffim Of O*Wwiw' The MWpMW &cqwft in interwt in any Part of the bout "M 0onsellt Of tine mrMg reSOICUM is this paragraph 4 may not be amended vvlt chntor, for so Ms as the GradW owns On wwwd in the Property, and the unanin" cO112Mt Of all of the odwownem (b) U ts, In additioa to the gmeml moons on use set forth in (a) above the following Lots shall have additional restriction on the initial use thereof (7 Lot 19• Tho laurel pwnitted use of Lot 19 ahall bo restrioted to um as a Holiday Inn tv` Express mold only. The r=ftw ions Lmposed under this Paxnmo 2 shall be a servitude upon. Lot 19 and shall be bw&ag upon any Peron aagryi W an wt=j8t rn any pwt of Lot 19. whether in fee, by lease or odowise for the initial use of Lot 19. Following the initial use of such Lot 19 as a Holiday Inn ems. the rwtncd,ou on use solely as a Holiday L= TagrrM 8ha11 core and become null and void: however, any subsequent use shall be subject to the restrictions 'set forth below. The restrictions on the initial use of the Lot 19 contaimd in"p=graph 4(b)(1) may not be amended widwit written consent of the C4antor. Any namequwt use of Lot 19 fal awna$ the wMiration of the restriction on initial use, any mAmaquemt use of Lot 19 shall be omsistent with the zoning covering Lot 19 and not othwviss pmhibited hcaeinabove. c (ii) L 3 . The initial type ofuses pemtted in the Lots 2, 3 and 4 shall be reshri,: to sit doom, national bid name ram, banks and/or fmanaial in9WWtb= only, F=fthcmxM until the amiur of (i) Augost $, 2005, or (in.) G=t+or shall have sold at least two of Lots 2 through 7 fir Initial Use as two (2) sit down, n ationA bread namee restanranls the initial use of at least two of iota 2, 3 and 4 shall be rcguicted solely to sadown, national bread aamug restMu=ta. It is the iatczd of the rest"at've oovemnt ihd at least two (2) nafiojW sit down bmod name msWrsnts be located on Property coast hdag the Lots 2 through 7; provided, however, ftze shall be nio restrictions onthe use of LotS S. 6 and 7 eft as set ford[ in subparagaph (a) above, subparagvh (b) (iii) below, orin tits event the national brand name testauzants are not built on Laos 2, 3 and 4. The restrictions mTosed under this Puagr'aph 2 shall be a servitude upon the Lots 2, 3 and 4 and shall be binding upon any person acquiring an interest in any part of the Lots 2, 3 ad 4; why is fee, by lease or ofi=wise for the instal use of the Lots 2,3 and 4. At the request of a nta tionsl sit down ram, Lots 2 and 3 may be re -platted into one lot for such user. Following the Initial Use of each Lots 2 3 and 4 the tednctimA on use solely as to fait down, nab nAl brand name restsuraa±s, basks and/or finswW in =rheas shall empire and become null and void. The restactiom caut=ed is this Pm-ag�* 4(b)(i0 may not be smeared without wriUM conWat of the Grantor for so long as the Grantor owns an interest in the Ad"On and the Owner of Lot 19 as providedherein and ffiLwAftm a sweaty-0v8 pa""nt (75) Pro Rate Shaw of the OwnM of the Property reflected on lira Plat, as may be homer aid ar'nO&&ed, Any mwhrequested consent may be withheld in tho sole and absolute ofthe Graattor or other Lot Owners, as the ones may be. The foregoing notvndO andh,& in no event shall any subsequent use be UW nsss= with the WiM eova&g the Lots 2, 3 and 4 and not otherwise pr'obibited in d& Declaratiam. UO rr &tenons under this subparagraph (b)(11) may not be amended or modified without the consent on the Ow= of Lot 19; provided, however, the restrictions shall autamati=llY terlmnsre and lapse if Lot 19 is no longer used as a motel or hotel. C) M CM T ate 5 7. In addition to the restrictions on use set forth in PM9rBPbL 4(a) p above, the initial type of uses pa =WW on Lots 5. 6 and 7 shall be fiudier restricted to exclude Seom initial t7 CV Use any new sutnroabile or truck dealetsWp. The restrictions on Initial Use on Lota 5, 6 and 7 shall auWrn9.cally tetmanato and lapaa following tiee Initial Use of the Property as pemucd m this Docla ation. The restrictions =bLined in this Para"h 4(b) iii) may notbe smeaxlsd Witham the caosmt of the GranW, thr so long as (hatbox owns an kdaea in rho Addition and 0w= of Lot 19 as provided herein and dweafter a n4wity of the Owners ofthe Property reflected an the Plat, as may be h wwfter amended at Madiffed- Any such requM to oon�t may be withheld in the sole and absolute dis�on of the or other Lot Owners, as the case may be. Tine restrictions under this wbPaMVePh (bx ) =y not be ammdccl or modified widmut the consw1 ofibe Owner of Lot 19; provided, however, tbereettotLans shall wtomadcally t=Anate and hqm if Lot 19 i9 00 longer used as a motel or hoteL r 5. The constr oWn of any buildings ' or imprvremesds on the Property and the Access Drives andDetwbou P4ad shall comply with and be subject to all building oodes, zoning ordinances and restrictions hrpawd by the City of Little Rook. A dmM and Transportation Depart and any other fixderel, state, county or local authority and any iestnctms t bainBimudtCtion over the PMPeaty- 6 0 " -on a Of P mod. No Fes Owner of the Ptoperiy shall be p mm tted to re, 91si, subcl vide or to -zone any portion of the Property during the term ft Deckmtkm is in effect without the without wriifm vonseat of the Granter for so long as the GMDIor awns an interest in dw proputy and a 1►4ottity in Interest of the Ownem hereafter amended may be hereaangled or xtaadifod. Any such requesod ceasaat may be vrid&" in the sole and absokfa of the Gsaator or other Owns as the case may be. 'line f�omg rxrt dWb ndwg Grantor tray "Id ar subdivide any Lot owned by tine Grantor arithortt the casent of any other Owner so long as such trot as mPh ttcd or subdivided r=aias subject to the rwtrictiow on tine use of such pordw ofthe Lot as originally shown On the Plat (for example, the re-Plattwg of Lois 2 and 3 as hew Lot 2R would not raliew such property fivm the restriction on use haposed under Puagraph 00))- 7, A The Grantee' dm hereby de &i Create, establish and deolm a pnvate, perpetual, non exclusive esm=t over, tbrongb, upon and across the Property shown on Plat as the Access Drives (the "Access Drive Agee") to serve as a means of podesa'ian and vehicular access and way of inum and egress for the use and bene6t of the pry t Owner and &tare Owacr(s) of the Lots and PrapeM, and their resp4xtm lessees, ers910yees, ccat=Uns,rnortgagees, customers, tents, licenses and invitaes, in the full use sad enjoyment of the Pmpeaty on the following terms and conditions: (a) Grant oferr - Interess ss Bagexraent Grantor does Imby "MO, Create, wtabliab., and declare a private, PerPetual, uon�xalusive access: ingress and egivsa easement over, through, Tn upon and 'row c that 1orti°`n of the Pit!► nwre ppaarly shown as the A=*s& Drive Areas and cxm- 9 hatchod on Bxht'bit "D" attachod to serve as a moans o£ve�Cular sonars amd way of is and to and f:om Colonel Glom Road and/or Talley Road for the use and beet of the present�mid � N QWtier(5) of the Lots and Propeorty, and their motive WMSS, e3IIPl0YeI'-S. contra, 1110rtga8', and my trm, in the full use and mjoyme�ut of the Lots and PmpatY. The ❑ustars, ,1 �t reserved on each Lot shall not a wMA thidy (30) feot from the centexliuc of such Access Drive on the Lot of such Owner as shown on the Plat and shall not Connect directly or kWirectlY to any PWOLty other 7 19. 20 or 21 without the c*wmt of all.of the Owners. ftn LOIs 19mough , '„ . The Clrarttor shall install the Access Dr►`rem (b) raccess or' bear the coat of the conatsu� an of the initial Access Drives deli on to the L,* and it*mty�shall $omcolonol olenn Plat as the "A Dove Are nl= s for Prov,anw=mto the Lots and Property Rnsda,d Talley goad. The Access Drives, site uJ3poVe=Dt3 for such access driveways, drai naM sewer, curbs and gamna, mdem'alk% tnn'in and access lanes trhall be cam� in acoardance witht3►e standards esLehlished by the GOnWr and °°4�10 io tbs standards of the City of Little Rra* ArImnsas, fired in vmnettts to Talley Road. The t� and in�llation of the Access Drive shall be rnzmectiaA withthe in7� �� sad all Such Access Drives d� based on � of the Lois to be serviced by such r4ceSSVY m aCQEa s Lot ehallbe completed no later than June 30, 2005. The (hvmtor shall sot be tequirEdto .wwU any tic rids on Colonel Glenn Road or Talley Road. shau be responsible for ft (c) o;v�, The Cirantar the initial twexve (12) mouth period following canYgle of the � of the MOM�� be � by the Access Drives at no tmst m the Owners. The A�Ccess Ikive Areas shell � Owners AIMIWn in pod Minn and repair At thaar sole cost and expense. Such costs shall be haadled Of PU.AFmh 8 below as it relates to common ms3nt obi - in with the pm other Owner {other than the rwp=,bla Owner •aa defined in this Hnwover, nsi a nor any die within the Access Drive Area dJTWdY �tm8 �) shall be �omsibie for re}r�x'aag any its succcsaars, from anott►er Owner's ar its ors' delivery trucks or other actions of such Ownner, mortgagees, iesgaes, as�t�, contracsto rs, licenaeea, invitees or ctnployees (collectivelyY, °''bl° Owner'). (d) W LQhsit im. Apr and Owner of the Lots and Pr y " use the t8 ofesoh other. Crrantor andthe Owi►eaQf 1iUeLpis�sad Aocesa t Areas with d«e regard far the ngh Property hereby agree tolowthe easeoient arm free of obstaclestz�t� or obsctians which would provent or of vehicula�'t c within or a the a mernw areas. Oral"r and the owner ofthe hinder the fiW their resgecti� a parcels and the �t Lots and Property not to place barriers or blockades between areas. Natwi� � £orego>z� aO� in this Agt shall be construed as iimiti�g eytherpartY a abthty to use dW em=Wt areas for &kveryr by its frocks. ?Farther party. nor its s m4mors, mmMm, lesser a%Laas, tMds oremployeas shall be permitted to pads vehicles on the otherpaity's parceL If wither party fails to repair or maintain the eawn=t area on its parcel, then the other party shall have the right, but not tho oblg4 oar, to repair or mainta thatportion of the eaw=t area on the otberparty's parcel at its own =P01130, (a) R—hone. Each party be mby reserves the right to use the easmxmt areas located on its property for all purposes not inconsisb= with the e.Ms=Mts herein granted and to grantnon-xclusive � to othees for any purpoee which shall not iruerfere with the easemmm herein granted. ( NotI ft herein shall mate or be construed to create any rights in and/or for the betaefit of the ga=ul public in or to the easement aree& ( t . No fiwneea, employees or agents of an owner ar any tmsnt of sn OWW Shall have ally right to petit on the Lot of another Owner, except where the parbw bave made a sonarate adrr'eament (a) Ro share. The Fee Owners of the Lots and each owner of a lot or PorthMoftheProperty dlwh bareTaw9ft fortheirreV=tzvePro Rata Share ofSae costs oftndnta ning the Access Drives, Access Drive Arcs, Detmtion Pond and any common lawn maintenance, mgation ad iaritlsrap} & ublities and maintenance of aqy sia Ca&MMt area designated on a Lot or off ofthe Property for the bmefrt of dW Own= or atgr portion of each Lot shown on the Plat along its boundaryadjoining coloW C A= Road or Talley betwoan the sh? owWk and right of way of snob road to the cxtont an Owner fails to do so as r gWM-d under PMVVh SO) below (as depicted on Exhibit "E'), the maintenance and utilidy costs of any eatrW= Ii4tW alonS the Aoo= Dz ives, reasonabic ad mft&trative fees for aVM-SeOing tare handling of the saahraoth aresx sad obiigationa havander if not handled by a third party agent, and such other cow expenses ap9mved by the Owners' Amociat7ion. Grantor, for so long as Grantor owhts a h4im ty in D* cst of the iota, and ti=eaAw the Owners' Anaoda#ioA shall approve such costs, which approwd may not be unreasonably witbbcld•. A vote of not less than a Majority in Interest of the Owners shall be requbW to approve any such ficdons (which Majority in tntecest shall include the Owner ofl:.ot 1 if such owner elects to Participate in the Owners' Aasod4on as provided in Paragraph 19 below). Such costs and assmmmis against any Lot may be enforeg agat&t the Fee owner of sttoh Lot in a=rdance with Paragmphh 14 below and shall omstimm a Hen on such Lot if unpaid within thirty(30) days ofthe date ofinvoice. in the avant tine Grantor or the board of mamagam of the Owners' Association (as defined in (b) below) determines it is in the best in wMg of the Owners of the Lots, and if a Majority in Tnwrrest of the Owners rant)► such decision, the Grantor or the Owners' Aw ociati on, as the ease maybe, may appoint a third patty as agent of the owners to CV CT LI) C=� �. C) CM CV � maintain the Access DrlveArem Damum Pend and the lawn maintenance and Wdseapi l& Bach Owner of a Lot SW be respom'ble for its Pro Ruts Share of the costs descaibed in this Paragvb 8. The Owners shall be bored for swh ores not less tbm sccai-anmuaily (or ere otherwise approved by the Owners' Association or, if not foamed, a M40dly in bderest of *e Owners) and shell lay all invoices w idiin thirty (30) days PXI*L (b) ' Po on arWnua1 eetin an . Effective upon the filing of this Dwlarabn, the Grantor aW the owner bereby fbrm an Owners- Asavei to be known as the `Colonel alma Ceatrs Ownem Aswcjioe (the 'Owners' Association") for pmposes of admunsUnn& mfpr=g and ovarsmng dwrespective rights, duties and obiigatom offt Owners undQrft i7eclwatian. The ' Association shall not mcmpocate, but instead shall operate as an unincMoruted assaciat = Onoo formers, inch Ownerr (including Grantor) and its successors in into, eball be arnemhes Of tixa Owners' Asso6arion pursuant to the term of this Declaration. The Owners shall hold a moat ng not less than annually at such time and place as the Board of Manages maY decide- Nouns of each annual mwting shall be gent to ea& owner not less than ten (10) days prior theroto. In any action t0qtiIb9 avow of the Owners, each Owner's vote d aIl be based upon snot* Owoera' Pro Rare Shan® of dw total W= a<PM footage of all Lots cx� widgn tip property (as defined in Pmagraph 16) above). Thu foregOWS DaWWL the Owners shell have the right to fogy mmrgaraw the Colonel Ole= Centre Owners Aswpa#ion upon the adoption ofArtialea and Bylaws which are cons istsnt with the gOveming provisions set tor* in this D don Wd Donmfimg Smh additional, temas and conditions as approved by the uum minus Comm of the owner. (h) Boo onkngggp, The owns' Association shell be goveme d by a Bond of Managers which shall be elected annually - Bach Owns shall bave the right to designate we rep<eSmIsfive to the Board ofMaragess fW each Lot owned by such Owner (i.e.. if the Gmtor ow= tbree Lots, tbm the (kantor would be entitled iDappoint ibrse regresmtat m an the owners' A 'Dci on)' Each o"Wofa Lot shall have the discieiaa to rmove and NPlaoe its manager TePreseutasive(s) in such Ownees sole and absolttte diwreft= 'lie Board of Managers shall meat on a semi-armual basis or as more Txcqu�tlY determined rieces ary by the Board ofMamgers in order to address the concerns of the Owners or to address enfimement and adminiatrxtiron of the Owners' obhph one under this Declaration. In any attics requiring a vote of rite Board of h+i=Ors, each tmnagec ftU bave a voting right equal to one (1) vote with rmpet to eachLot repre=►ted by suoh manager. A manager may zepremnt mre than one Lot attd shall have the cumulative voting rigids of each Lot represmted by such mmaga. (w) The board of mwwgera shall have the dismUen to establish3& vm=t or dues to bo paid by the Owners to cover the cost to be paid by the Owners under this 0) MA V J CT O CD C\! Declaration and to dowrmine the timing of such payments. The Owners' Association may also nndeztakc © C:) such joint promotion of the Colonel Glenn Centre as approved by a Majority in Interest of the Owners. M1e O Cn t"vregu'sng www&=dim any ceP ital wq=&Wm ar non-rwurring special ass=Emmt iu access of $50,000 N .' w the aggmgate dwing any twelve (12) conse rutive month period shall require the ratifrcatioa and approval of Own= voting in the OgVqpw not less than saventy-five; percent (75%) of the pro rasa shame of the total gross square footage of all lots can tae within die Property and, In the event the Owner ofLot 1 joins in this Dealaraim purausrn in Paragraph 19 bdow, including the total gross squarefootage of Lot 1. (iv) . The managing board shall. oa an annual basis, dwipaW offlers of the Owners' Asscciatzaxi, which shall consist of a President, Secretary and T reraw=, and such addibonai officers as may be approved by the board of niamigm. The ofoess of Secretary and "lemur r may be held by the erne person. The Preaidmt shall be the chief executive oTuw of the Owners' Amciahon wad shall presiep at all mmdvgs of the board ofmwms rs and Owners and perform all duties incidental to the office of the President in ovaweing rite genera! day-w-slay opwation ofthe Ownm' Awociation and such addifiarW duties as the board ofmaaagen deaagnate. The Sew' sball attend all nouti.ogs oftbe board of managers and Owners and shall lamp OA and aocurabe records of all proceedings at such meetings, shall perform salt duties as are irwideal to dra OMW of Secretary and such additional duties which may be essiPed to the Seay. ry by the board of managem Tho secretary shall resin custody of all of the Owners' AswciRhun recordbooks. The Trea. r shall bane ohwV of the owners' Aseoais A fiends and pay all of the Owners' Awooi8>; ou's bills, collect all monies due the Association and keep full and accurate books of wxmd and all monies paid to and paid out ofthe Owners' Association- All sneh books and records "be Oowt=UY Wen t D the inspoo6on of the Owners and tits Tream= shall provide an annual fmncW snaLw=t and ofdte moixots received and paid out to the Owners. The Trews nisi goo perform such dudes as are incidental to the office offream= and all duties that the board of di =tDrs may frown time to thine a=P to tha Treasurer. No bmd shall bo required ibr tho Treast= unl.em wq�miWy by the � vet'° of a Majority in Irate %W of the Owners. (c) �1Rg Each Owner will be respmible for the design, development and gvaintCnana a of the im6avc on the Owner's Lot and corltintuous planting areas within the various rights of way and easommitareas jff=dng said Owaet's IAA COndgiwus lots owned by any Owast reserved for fltriue ezpanswn. shall have the required landscape areas fi^anft on any city struts between the sidOW81k area and the right of way of said streets fully developed at the tiara of the Initial Use of the Ownm Impmvetrgs cc a =Ugraus parcel. Mowing of any =Ievelo* parrsls shall ba required at least weekly during the growing soaaM Dead of exter}sively damaged trees, ground cover or shmbs shall bs replaced within thirty (30) days aftdamage with suPostarldally identical tlm, ground cover, or sbmbs, etc., subject to deferral of repia ammt based upon seasonal co ditiams. In addidon to the foreg,oiug TWMcbans, with t� to thm Lots which frodt Colonel Glenn Road or Talley Road, the Owner of such Lot shall install between the . sidewalk and curb of such sttPet (the `right of way area") solid zoysia sod (Me)w Z-52) or other equivalent Ct approved by the Grantor Ulethar with an approp&W fingstiou system to water the same. Such additional shwbbery or ground *over may be installed within this right of way area at the Owner's discretion. The foregoing notwithstanding, the Grantor shall have the rigbt to mall all such sod and irrigatum sysu= within the tight of way area and treat such irrigation cost (but not the initial installation cost) as a common maintma= axpmsa desnriibed in Paragaph 8(a) above. Sash Owner shall be responsible for mowing and midntaining the right of way area on its Lot in a mariner oonsis=t with such Owner's ovetrt<ll mamteuauce and mowing of rmnammg leax suping on such Cat, Provided, howevvr, in the event that such Owner fails to maintain such ri& of way area in a=rdance with the standards exl Atcd by the other Owners of Lots having fron&Ap on Colonel 01= or Talley Roads, am Owners Association shall have d o*# to amume the it VpM munwnmw ad mowing regmnsiixilitles W drin said right of way area and shall dncdY W=P the costs alk"ble thereto to the Owner of such Lot, . 9. 2MMUW Pta'ilx�fa p. t'3raator grants and subjects the Proparty to and grants for the bedel t of each Lot, Pafpetual, noteUlusive easMeats within the Utility Easw=t Areas as Wwwu on >tbab IV (tlbag.�-Udit B3s=ant Arras") for the inst811l8 on, opm tou, flow, pyasF�e, e, us maim m&we, opAn�rap on, er', relaastion, andremoval ofundargri7uud lines orsystte= lbrutilides Serving any or all of the other Late, including but not limited to, sw irary sewers, storm drains, sable TV, water (fire and domesuc), irr� gee, eleoiral. mlephone and cormramicaticM lines, together with the right of ingress and epos hoc m a iabov,- mmatcn nee and rep&jr tliawf usury for the mderly davelopmant and operation of the Promw and *a Lots in aaooida= with the Smew requirem is of the Site Plan and the dry plan adwhed hereto as Bxhr'bit "C, No easement. shall badeomed granted under any StAE g Area shown on the Sffe Plan or under 8W Building aAMY Wnswxcted All cous� alteration, and repair work to any utility deembed in this P&wwh 9 shall be w ornpiishei in an expeditious m imxx, in =Vliancs with all laws, rules, Mguiatious, orders, permits, a}axovals and licenses of goveramfxitai suthozities bavit183�°u, Such construction of any utilities by Grantor or any Owner shall be subjc*t to the mmstruction sbndsrds required to cause acceptance thereof by the City of Little Rock orudlity service, as the case may be, The Owner undertaking such work shall take all reasonably ne=mry meaairea to mmamim any disrupt = or inconvrnim cc caused by such work and, kept in the case of an boy. Beall give the aftted Owners and tenants written notice aMMrb=M of seveaty- two (72) hours prior to commencing such work Such work shall be accomplished in such a manim as to MmLmiw any d=age or adverse effect which might be caused by such work to the Lot on which the work is being done. If such work requires excavation of nay porno's of any access road. the Owner Mining such work to be done 691 use all reasonable a lbM to == such excavation to cuxametxco and be completed &nng hours whey the b'asinem Places i» the property are not open for busmeas to the public and, in snY event, shall Provide auttable alWn move ingress and egt ss lately adjacent to said aaocss road ifit is not practical to loeop at least one lane of said access road open during the work. Any exgavaliaa of any access roadway witWn the Property d aU be pr sly ba*fifled within twenty-four (24) hours, if reasonably practical. The Owner updaukAB such work shall repair at its own cost and cq>MW any 84 all damage Caused by mach work and, upon completion of such work, shall PromPtiy re�swre the affected portion of the property or the Lot upon wltidt such work is performed to a condition which is equal to or better than the eonditicn whichexiswil Prior to the ' of t#ucll work. In addition, the Owner uud $ such work shall pretnpdy Pay all costs and ex amm ated the and shall defend, mdmnn.IfY andhold tb o other Owners to rmleas ftgm► all liege, cWM.of lieu, tnjmjzs, damages. losses, or claims, kduft =wnsblc attonaey's fees actualY metered at trial and appellee levels, attributable to the pakmanc* or non- pto-mans of such work. Fubm 4wu-s sho use dwk heat efforts to cause the i nsta.Ushm of sash utility and aervico lines PfW to paving of the COMMon Aram No Owner shall undertake coxrsW,0hDn aetivitY on another owner's Lot w the Property not owned by such Owner without the Prior aouaerad of sigh Owner- 10. Water FID-W sad S_mLqm—sYxt. (a) wham. GMUtor hescbY remoras, FMtS conveys, estahiiahes and decl ea for the benef t of each Lot a P=Mmt, VOI e�e eas=jMt on, over, upon, across, under and though any portion of mob Lot and as dw42ded on the Dmin� plan and Site Plan for the benefit of the other Lots, as TeMA bly meaty bt mrfi= water run-off and, within aaY P°dion of sash Lot which is not a Bnilding Area, for the eoa*wbon, metallafon, use, mainbmzce and repair of any ound &WI&F qIIM to receive guza= water fim the bwafftd LOt Ind oon&wtsuchwaterover each Lot asnwewuY to adisdwF area. Subject to the appror+al' of the Grantor, not to be unrcuomblY withbeK the Owner of the bwdwOd Lot shall ddCD3i cc in its sole, butrmaamable, dimetion the most dractive location for drainage p=Pcom fbir the pla� of any and all compmcntg Of Or& &8 =P Wstm to be located on its Lot (each Owner hereby ag ew to the loi=tiM for such impsn� as grown an tie Site flan), and coos any dr inage line or lines have beau installed an any Lot or Ob=visc, the lion of the agplirahle Lot m=ibored by such ea==t granted in this s6a11 limited t° the area wit A ten (10) fact on either side of the center line of such &Uiu a line. (b) S Grantor will copstruct oa Lot 21 and the Owners Attt3ociatiOn ddmed in gaxa�h 8 above), each at its sole shall tivaea.fler � as a rnaiaten� ( to control the and set the Dates pond shown on �- and all iai Srt v=" pew Y storm water runoff from suohptupe V and to Mnspot rite same under or across the PropWW to the Detotwn Pond bo be oonstxuated off-aito as span of the drainage plan shown on Lxhi6 it V BMh0W=IsPMtA so long as it or its Prep W has complied with the provisions hereof; an easement for tiro use of the Detention. pond and the right to cause she = off water from its Lot to drain in avAx&nec with the Drainage Pisa, some of which may drain into the Denton Pond. Bach Owner shell indemnify and hold the Grantor and other Ownem of Lot from and against any and all damages suffered by the Owner of a Lot including m--pvnse costs, auviroxt ental ckm- V coats and attorneys' fees and costs resulting fiain any eavironm=tal con=kWian to the Deteati n Pond or such Owner's Lot which evntamwAtion came fi al, over, under or across that reserve Owner's Lot to the Detmdon pond. Failure to promptly pay Owner's Pro Rata Spears shall treat@ a lion on the defaulting Owner's Lot with no further action and such lien shall be superior to any int=st of a tm=E or lender. (C) i y_Sewar. Gnmtor will provide sewer to the property line of each%ot at such location as deemed most event in the dLvtetion of the Grantor and the Owners shall thavaflzr maMWa as a Cmmm Area MaWW=c Pie, each at its sole cost and expense, that portion of the sanitary Sewer systm serving the Property and loaned within the easement area and excluding any portion ofthe surer line locebed on a Lot from the cmu=tion to fe main line to the improve=ts on any Lot Owe any portion of said sanitary sewer lino has been dedicated to and the resp onsibility for the maiarcnanca ffie=fa=qAed by the Wvpdalc govaan=t a dhw ty, theu the ma mt a zespo=bihty set forth herein withrespect to such portion shall auwwali� Wrininaw. 11. Wig , Each Owner shall have the rig* to rnamtaia such signs on the mtaaorofhuddmp located on its Lot as it desires, whether or not such signs are visible from the exterior. As Pftd by applicable gaverommtal roues, each Owner shall have the right to erect, maintain and replace wing signs orsigns onthe exbmiar ofthemouldings Cauilding Sigpago") located on its Lot; provided+ such Building Signage shall be coestxucxed so as to He flat against such exu&W fascia f8ebig outward and shall not protrude more than two (2) feet from the surface tizereoly and provided further, in no avant shall Building Siguage be ko*bedontherooh of anybuddings inthe Property withoutthepcica wriutenconseata-f the Grantor for so long as oranoor owns any interest in the Property and therraiter the Board of Mann g of the Owners Assacsatiox>:. Bulging Sipa shall be eid= back lit or font lit individual chmnei letter suds and shall be in accordance with any city ordinances. 12. -Iv„ i ctm and JnstYra>xc_e (a) To tine axW of such Owner's negligence, or wilful arintentional act; each owner hereby indennifies, defeudg and saves the other Owners and tanams harmless fiaxn any and all liability, damage, expense, causes of action, suits, alahas or judgments arising from psrsonal injury, death, or property dsmatra occurring an or from its owl, tract, except if caused by the act or neglig=m of the other, owner or tenant or invitee of the other Owner's Lot. (b) %ra cue. Each owner agrees w procure or cause io be procured and mai=ked in full force and affect thmttgh" the term of this Decluadon general public liability insurance and property CD O Q CV d i� t clsim9 forp=wal Wury. dcRthQrWTWY&=aP 0==n9 fin' in or about its property, each Oamefa in m uce to afford Peon to the limit of not less than $19000,000.00 for injury or death of a angle person, and 6D the limit of Clot less than S2,000,000.00 far any one occur ",k and to the limit of not less bran $1,000,000.00 fiaf property &mage. In the event that inflation men L-m dw fopping insnranca limit �y uweasonat'il% then each Owner shall =y insan=e in rammmTiall, reasonable amounts. The fomgnia8 natwitiustwft in the event the owns' Association is able to obtain average de=bed is thb R1bP=9Wh (b) for the benefit of all Owners covering the AcCM 1MV61. won Pond and any 00M cones areas tbo Owneea shell be Oc Lmd from msintaidnin6 coverage regnhW under this SWV=gtuPh (b). At all times during the tum of thin A ft, each Owner shall or shall cause the improvemesnts on its property to be fi somd agaimt loss or dmap by fire and other perils and events as maybe insured against undeetbe broad & m of Umfiou Extended CmMP Clause in effect from tinge to time in the state of Ad arias, with such jww� to be for the full Mtac=W value of the insured impsmMMM a tuner o£aip Rigi-. Each Owner h=by raieamms all other ChVOM fior itmlf erkditS,prQperty find Mast my and all alauw, d=audj� hahilidw or abligaticns w ex Per dame tDe=ho&X%PMPWWGC1OOB ofnmts orpfofitsoftbu otbWMs dtfag from orinanyway s with any fire or othea cuwshY whe&= or not such fife or otbe+r =uaky shall have belt caused by the negiigmw ortlze tN4WUM1W= ofthe Owmbefogreleasad orby any agent, aseo141 ar W7" of the party being released, tills mleaso being to the CZ1M1 drat such darnaga or lass is coveredby tine pVc* which the .Je,�ft Owner is,,bHpW hmft� m 0611y, or, if the wiaas Owner is not carrying; that im=aae0. %= to the eft 06 dam ar loss would be covered if the mimme party wero Oury"g tbat inpumm within the (d) C`sm�a Ins Prior tD vammg any coffin adivzrsza Lot owned by an& Owrtl O the Owref thereof s11s11 obida or mqurfe its cents bW to obtain sud *=Vaft maintain so long as such =M ruction Otivay is °=tcriD& at least the following minimum ina1" cavernge: (1) WO&=8' won - ete#ntrnry liu►its; _ (;r� $�lnyde liability - One Hun trW Thowmd, Dollsns ($100,000); (m) C.pagneheudva C;l DOW and Comprehensive Auto Liability as follows: (1) "Combf ned Single Limit' (covering bodily inM liability. death and pmpetty damage) in I One ocGarrence of not less bran Ow Million DoUare ($1,000,000); (2) lndepcn t Cnntractars LiaNility or Owner's 1'mteutiva L.iabilidy with the soma covexaga as set forth in (1) above; (3) PmducWCampletcd Opaadons Covmg: which shell be kept in di% ct for two (2) years after completion of wod4 (4) "XCO", Hazard RndO az at, if applicable; (5) -&=dporm" Prwperty D=age Endorvmmts; (6) "Persannai Injury" Eaorserr=X (7) "Blanket CaDtual Liability Enda;sernent. Provided, however. ttre MRiOnty-in-lnterrst G d -0 N C of the Owners may inca'eaea tho coverage amounts required hmaider. If the construction activity involves the use of the C awn Access Drives or aaotber Ownd$ Lot, then the Owners of swh Tale shall be nataad as additianal insureds aid such itimmom shdi Provi&"the CST' same shall not be cs80e10d wi&mt at least thirty (30) drys prior wrima noticE to the mined fimred. 14. a p • ' os Ti the event Ind pings are brought or co'mm� to enf Om mW of the terms of" Declaration rgawst any owner or otherpersou with an interest in the FMOtY, tie stwomm party m such action shall be entitled to receive and shall receive from the defhulting owiar WY able sum as atborney6, fees and costs, to be fixed by the court and all damages p by law, phis a reason� of the Praperh►, and � � in the same eases. Cam, forso long as C;raiitor owns r.Y po d owners? Assooiataon if tlten in GM* or, if not, a M4ortty in interest of the Owners, as WSY be amended or modified (wJ& such omjorltY i>a interest ban detarmined based on the m Pwd- a Kum rootage of.4 lots) shall have the rq t to cotes my action to enforce the obhoms of the Fee Owns under this Declaration. In addibien, the Ownw of Lot 19 shall bave the right to enforce the obiigatim aid 4 t above and any Oww shall bave the right to enfbm the obligates �ti�nsnetforthinPr� roxr") and ramodoos set fio * is Pmrsph Ma) or Q* Udess a Majarits► iia Interest of the Owners have approved such use or ro-plawng, snbdWision & re-zonin& ftM.ea Bled ar t..bat4 all of the � pm*d in this 15. o ahail� and be peclaratioa shall 000tintte inpeiPY and all otlurr rights and obligations hereof of no fuc W fia m and a ftd ni"Y nine (99) Yts aft tho date of Sling hereof 18. MOtfgMjM§- All negotiations and oral its acceptable to the Gmdor baave bow hwain. B,,q)t as othacwm Mdd bmm, this Declaration maY not be method fo any mwhole aria psr>4 eweptby a writing executed by the Chuator, forso long wbafsoevOr or msofoded' of th a Own= of the as orator owns any portion of the Property, and a Majority in Interests Proper1Y• interest in eny 17. R t n��. xodtin8 har�ein shall be constrtited to diva auy owner any eria with anyexerei w ofemiwddra� orUmsf awardorpay�rasdeboanyatbarown�inoa tb�e public or auy gov�nt my rim to the Lots. lion the�vf affeef� myother Owner's Lot Or giving pu a tenant from maw a Claim p an Owner t to the Nothing in this Paragraph shall prevent on of any such award or payment. provisions of any lease between tenant and owner for ali or a ports Provided, however, the two of any Woemkot between the owner and any lessee shall govern the tip of those parties undo candemnsfion. =7D —© Q-- ls. MIMAMMLI. (a) i7edi Nothing herein contained shall be deemed to be a gift or dedicstiou of any portion of the Propeday, including, but not limited to, the Acoess Drives, to the general public or &r any publio Purposes whaWgver, it bring the intention of the Owners that this Docbratian shall be Stri* limited to and for the purposes herein expressed unless there is a fb=al dedication of such imPt+nvsCgeEd.B ar Access Drives to the City of Little Rock or utility service and •a formal aesma>pdon thereof by such grantee, l'a the event of the dedication end assunq)tion of the Access Drives or any utilities described herein, the obligations ofthe Owners with, respect to dw Mamteumce thereof shall cease upon the grantee'- s mpress as+mmPtion thereof. (b) &jgghjW. If any trim or provision of this Declaration or the application of it to any paw or CIMMAMM shall to any extent be invalid and unenforceable, the remainder of this Declaration or the appli MUM of such term Or pr+uvisice to persem or ciraumAPrces other than those as to which it is invalid or nnent=eable shall not be aftcted thereby. and cub tmu and provision of this Declaration shall be valid and abao be whrced to the extent pernittt3d by law. (0) nMjj. This Dwisrstim shall be construed and enforced in accordance with. and gov=W by, the law of to State of A&Rnsas, (d) &o pMu=hgL This DwUmbnn shall be bwpvud and construed only by the coutm a hereof and there ehao be no potion or sttdwd of construction is favor of or against any Ownc+c. (e) jMg=jVt This DieclaratiousaddMeamonaots,its• beneftWobliPtION CIVowhereby shall in= to dwbeoel'rtandbe binding upon, sash owner, and their respective ==M and assigns (fl0thMAgn2pgjt&Noahiug herein shall restrict as owuff from w POMS upm► any tenant of the Property more restriotiona and/or higher standards than set forth h ere= es Notwithstanding any provision hereofto the wnWary, soy lawful reshkdons uppoud by the City of Little Rock which is more restrictive on arse than she provisions hereof shall be applicable and shall. supersede tt►° Provisions hereof. (h)gnkMThm>DOCIMMOUMISMOS the entho agreetnent regadingtis subjeoa m&w betweean t#e Ptatiss hMvW- Thal'a" da nd relYy on anY statMGK Ptomisc oa' tVrwmta" not herein expmeseed, sad Us Dealarattota, 0= exeoated, delivered Md Sled, shall not be modified or alttned in any teapect pint as pmvuW herein (r) hLa AkMtLftggggnM No party, other than the Owners and Boen shall have say rights or bawfiits of this DecluRtion• blQdg 19. a f I a . As evidenced by the signawm of die owner of Lot 1, Colonel Gle2m Centre Addition, to fire City of Little Rock, Pulaski County, Asl£ansas (ihe "Lot 1 owns'. the Lot 1 Owna and Grantor acknowledge and agrft that fire obiigaom, rigitft and duties of the parties under that certain Declaration of Resbiciiom and Covenants dated March S, 2004, and filed of record as hornment Number 2004019665, in the records of the GbvWt CIftk surd Ex-Officio Recorder of Pulaski County, Arl=sae (the "Lot I Covenants") as dW relate to tire Lot 1 sad the BanofIWd Prnpelty (as del W in the Lot 1 Covmama) are wcoporatod herein by ref== and the Lot 1 Owner joins in this Declw=on and agrees to be bound by fire terms and coodifiam dmwf 88 they relatio to the use and n=tmance ofthe Access Drives and payn=t of Lot l's Pro Share of MW "MMMaa mainterranca GXP=acs (including the Detention Pon4 A.dditioaally, each Owner ofthe Lots" be raWnaible for tbeir Pro Rate Share of any payment obhga6an attrftriabler to the Sene4tad Prouty due and payablo under the Lot 1 Covcmanfa. It is further wknowledgei andagreed by the Grantor and the Lot 1 Owner, that neither the obagatiom of the Lot I Owner hewndsr shall ucced the obligations of the Lot 1 Owner under the Lot 1 Covenants not shall the righf8 of the Lot 1 Owner under die %t I Covenants be reduced or Bated by this Declaration and that ft joinder is a =utad solely to wide= the Pardes' rive vbiigatiom I the Lot 1 Covenants. no Lot 1 Owner, at such owner's di$cre M shall have the rightto join the Ownors' Association desmIed inPath 8(b) above and pmpQipate therwn as a Maa3agtr an dis Board of Mmsg= and as an Owner on a Pro Rat& basis (calculated un the square footage of Lot 1563,666 gram in the denominator). IN WPI MM WHEREOF, this Deeiara#aon bee beer executed as of the date first above written. Boar Enterprise$ LLC By: --, z+_ i.,emar+d Roea, Manager For purposes of Paragraph 19 Only: Lindens Corp, in By: S7ve LsndeM lbommt LrD C O [V STATE OF ARKAN90 COUNTY OF PULASIa On this day, bobw ur., allotwy Public, duly oommis=n4 qualified and acdn& within and for said County and State, appeared m person the within n Lobard Boen, to me personally Well kaown, who stri-.d that he was the Nlamw ofBOEN RMRPRIMS LLC, an Arkansas limited flabft company, and that he was duly authorized in We capacity to execute We foregoiqS msbumcnt for and In the name and behalf of said limited liabhw company, and Mier sorted and wjmowlWgW that he had aD up4 exec W and delivered said finpiogii�rar ui for the oonsidazdM um and purpom therein mmdoaW and got fa& IEN TESTIMONY WM=F, I have hemwtD set my bznd and official seal Oft Z�� day of s P-)-q f- -, � - .2004. Notary Bo 9-9-IMM"i STATH OF ARKANMS COUNTY OF PULAM On this day, bdm me, a Notary Public, dulycommmi=4 qualified and wdm& within WKI for said Comiy and StAr, qVezrd in pmm the within named Stuve T=ukn to me pmonally wcu ]mown, who ffLaed that be was dw PreOdcvd of Landem Corp., lie., an Aftnw mporabon. and that he was duly au6od . zed in his capacity in ear =w the fing �t for and in the naam and behalf of said cwpmsbm and fin6w stated sod wimowl%W that be had so sinned, executed and delivered said foregm* msuw=d is the oonsdaubon. uses and purposes dmw mentioned and set AM& IN TESTDAONY WMRFOF, I have he=mtu eat my hand and oifficial Net this Z!!��day of Notary Pubic 1"142 19 U') Lr) Ck C!) Uo 0'kn cko joiNDER AND AcKNowLEDGMENT BY MORTGAME CDZ C,%J The undersigned, Pulaski Bank & TMA holds a rnOrtPge in the PrOPOrty de'smbed in Exhibit ,-A7of" Agm=wt The undersigned hereby joins in the exwu6onofthe Declaration for the fbHo*ft PITP08% WY: 1. CONSENT. To S=t consent to the execution of this Declaration by the owner of the vWPINLY. - 2. ACKNOWLM)omENT OF AGREEMENT. To subordinate and subject any and 9U swx* jub=su it has in the property to the provisions Of this DOdmtion sOlcly to the wdent thid. iftido to the pmperty is acquavd through We under fimkom or by deed in lieu of foreclosure or OdwrwUl% such We shah be subject to the charges and burdem uffwting the propedy by viLtm of this Declaration, =Iudin& but not J"mW u0. the Access Drive Areas, Utaty Eumnent Arew and DcWntoa Pond descriptions dwroin. puLAmu BANK & TRUST: Date: 20 2005001125 cxr • � 5 •r •fir `,! �• F'. .1 '.G ��{;. •7 y,-'.{ �• ,. .r}a:: }•. bdftmaif;7e�e14s� � and13 Wtst, >�e g� - • i�rgr�eaf � ��ttr�rA* of raurgate�t � b tbt�� �r 1i'tio 8113 daaEd �� � t�� � a�ll�e sei �iI4 i,?�G.LZ Past �1 �1RNSfH . N° 9xftrm 38> 3s pohft on the amm=dak Nst4 7 "Wfto gift 13 32 dWM 55 � P+�t sfe �SS�t god of� & � sder� � L'Wosci [tea tCosd ; 9aeRVsFMKQ sere�itraa[s�jx1—�uumaeolcamdgmsd8�m �° sf � 1� irat to � 8airtiq� p t�iaMl tt�iePOW of West PART OF URE• NE JA OF uS�4i1DK 2t r_ WILEROW,rang` . �n AAXMSAS i—tV. a-�s�ry, SSW PARVO CAW BESMU3M as CDWDXM AT 7W W CWaM W - g t M'Sf*W Ga7f'= T8 W 1 7i � \4 �C�$LiH 21: ifiEHC 5 i1103S` t11 '^ COuTA"g N-USV M► 01'W 31MM W7ro %�gm"11f Z69t*' 31 ONCE Sc�33* 25Bti16' ps�ait of ANDtEmAMt ti �ss6aNwea:arroestse �MOfseesmZi tbftft f;D1dap f739a*mko35 saeadvs�� �*fmsbes� $3VIL14 *feapoWpp��r0lrS�cR�e� �ceN6Ydegre"21 u a Xiiaas r�59. �!1E7imd ix dtvo" abftg*s�esgueenvkag mt#raieetr4P����$71 _ stOe■dsEPl�9kdG�rt>De�W[ok; N17 dcorces it � wl 1i�3'fird � � � �a $ � � 45 �1 S6tidf! Sad bo ■ sW i7sttii i �� W� p @�cisce M � C cf�0es 43 xmmfs W �43% 4 d a fi pondoaf thenest� oxwWAMUMA bfinft aafr = Nis � owe � o51� t� ar,nm r &C s Y u6mowto @xp"oib B 14 f 5Z 63 ■ � � �� �cn IP�I��1 ;{tee 1�� w. nl .. � ' • ,.l r� •.A� = it N,. , , +, �.�' t d M-� C 2005001125 Exhibit D Legal Description for Access and Utility Easement Areas ERA,SfkAEN'[_Lf , arfKC 6 kiRt S7►' EASEQ,iEIil PART OF M4E NE 1/4 OF S'EC"ROR 21, T-1-lL R-13-IK LITTLE ROCK, PULAS O COUNTY ARKANSAS, MORE PARiiC"I.y DESCFO= AS: 8EC1MM AT THE NE CORNER OF LOT 19. CCLOVU cL M CENTRE ADDl =; THENCE S 01.WSr W ALONG THE FAST LINE OF SAID LOT 19 30,0; THENCE N 6M5'12` W 220.41' TO THE POINT OF DURVATURE OF A CURVE TO NE LEFT, HAVM A Mows OF 270.0. THENCE IN A SOUTHEASTERLY DaECTIOH ALONG THE ARC OF SAIO GJRY6 TO THE LEFT To THE POINT OF TANKXNCY THEREOF (SAND WRYE SEGMENT NAMNCI A C14ORO,8EARNNO AND Dt$TANCE OF S 71 VW44'' W 131.6:} T}IRSCE S 67.12'40' W 70.89-to THE PUNT OF 0jRVA1URE Cf A CURVE TO THE RIGHT HAVN V- A RAatiJS OF330.d;. 7FliliG'E IN A 50U7}{5Wc51ERLY DhVe.AV" ALO 11-E ARC Of SAID CURVE 10 THE RIGMT TO THE POINT OF TAHGENV 7HEpEOf (WM CURVE SECUENJ HAVING A 04ORD SERING MW DISTA ANCE OF 5 79'08.4ti W 136.46'k THENCE N &rwl2" W lm2T: T}LF7'Nm N 1712'13" E St56; THENCE $ 8685T2' E 9S5S' :M THE POINT or CLRVATURE OF A CURVE TO THE LEFT HAVOC A RADIUS OF 270.0'; THENCE N A AORTHEA$IERLY OF$LI O71 ALONG THE ARC OF SMD CUh'VE TO T'HE•LEF[ TO TX POINT OF TANGENCY THEREOF (SAID WM SECFJ47J7 NAIANG A C1i0£tC 6EARN0 AND of N 79vw44- E 111.en- THF74CE N 67-12,40" E 70SW TO TIE PODNT OF WFNATUFIE Of A CUFM TO THE.R&Q HAVWO A RAMS OF SXLEY: THfiJ7CE ui A NOR:HEASTF711 / MMG, NON ALONG THE AM OF SAND CURVE TO THE OL147 TO A Po1NT WHICH t5 N w4d11' E 97,08' Rom THE PRINT OF OURYATIIRE 1F#]tOF: THF}10E N 01,W E 232.44' TO A PONT ON THE SOUTH R/W WE OF OOLONG ;LEIW ROAD. THENCE $ 681WIl- a ALONO THE SOUTH R/W LINE OF COLONEL OLENN ROAD 30.&: THE E S 01,55,ST W 250.D11; THENCE S W( M'12- £ 219.24' iQ A POINT ON 11E VW P,/W LINE, OF TALLEY ROAD; T"D= S ODT9.441 w ALONG TFE W-ST.R/W LINE or TALLEY ROAD amo, TO THFC NE CORNER of SAID LOT 19, COLONEL OL NN aNTRE ADOITLON AM THE PONT OF BEGINNING. 2005001 125 `1 L.0 CD O PART CIF THE mE 1/4 OF SECTION 21. T-1-N, R-13-W. LITTLE ROM PULA5I0 COUNTY ARKANSAS. MORE I PARTIWLA(tLY Of9C.'ROM AS � fN3VG AT THE SE CtYtNFR OF LOT 19. COLONELCL£NN CENTRE ADWTLOFl: THENCE S 01'28'49' WALONG THE WM R/W LINE OF TAI.I£Y ROAD 2D.0':FLc TNCE S 8739'5.5' W $48,4;'1 THENCE N 34W42' E 115,4E TO THE POWT OF =VATLIRE OF A CURVE TD THE LEFT HAVWO A RADRIS OF 4D.Q': TF VICE IN A SOUTHEASTERLY DIRECTION ALONG THE ARC OF SAID CURVE TO THE LEFT 10 T14E POINT OF TANGENCY n " OF (74CURVE TO A SE-WILNT HAVING A 04UW KARINIG AND V44TRNa OF S27-051' f 69.4ik . POINT CAN THE EAST L.16E OF SAID LOT ill AND TFIE 'itifST RIW LVC OF TALL.EY ROUh THENCE S Ofi10`18' W ALONG THE: CAST LJNE Or SAID LOT 19 AND THE WW R/Vd. UN£ OF TALLEY ROAD 20.CY 70 TF1E SE GDaNNFRR OF SAID LOT, 19 AND THE POINT OF 6£C;HNR4t: Easement #3 PART OF tE W-,. %CF04 21. T-I-►K R-13-K UTILE ROM PUTASIG GOL M- AWA4SAS OEM Y(7I?E pAFtY ¢FY A5; COMWDIce NC AT Tw NW CORNER OF THE E 112 Fie 1%4 OF SECTi4N 21, THENCE S R138'35" W ALONO ii7ly WM U9E OF SAM E 1�Hfc� },L 781.8ti : iFiE7FC£ 4 }354 32" E 43 35: 7+iFNCE N 76T]2'3S E 262.36'. THENCE N 6 .3 t 87.16 TO 7TfE SOU'FI RIGHT Of WAY OF COI. GLEm ROAD THENCE 5 W5512" E 149.65E TO THE�POINT OF eEi S it 5 88-55'12 E 40.00' T4CNC C S altlw 5- W 69.0: TFL AL. O A CIAYE TO `04E R;Gi4T. FiAlA16t; A 2ADR1S• OF -:200,00 AA* CHORD KAR14 Q AND QWYA14CE OF S 1B'17'47'- W 697.79'; THE7lCE S 34-58`59- W 4SOJ6'. HAW A sRA00. L7 } S L �A} CHULO f34'� �1 TANM D�K T8i74 E 56�7.78; LEFT TH,NCE N 0138'35" E a$-71 % TO TL+E POINT OF gef,T MNC. "JNTAIMNG .936 AMES. MORE OF LESS EASSEWIENT DESCRIPTION P,UgT OF UL.NE 1/4 q SeGTiOSL 21, T-t-%. R-19-W, UrZZ ROCSt, FIXASIO COUNTY ARKANPS SMO 7ESOtLM AS; COA1'RE?F,WG AT THE NW 1CMEA OF THE £ IV %iE 114 OF SECTION 21. TTs NT X S Ot 38'SS" w ALD*iG 7K WEST LqZ OF END E T�2 >4r 1 4 76'.8.3'; TKENCE IN 13'5�`32" E 43.35': TN1�?SCa: N 76W39 E 2MO., TH04M kN -1 72819'� 67.16; ]0 THE SOUTH RIGHT OF WAY OF CCL. CLEM ROAD I"CkCE S 6855"12 E 1e9.s�' M-THE'OiNT OF BEWN11UNG THENCE S ti$SSi?" E 60.Od THENCE. $ Qv3e357 W 17,59% TH"CE ALONG A CURVE TO THE 10[11'7 1(AVAN;; A FADII:S OF 1252_5a AND cHDRO Br-AMTE NO ADTSTJWCE OF S 18S3'52` W747.82E T,04E 5 34S559 W 477.4T; THENCE 'N 55TYC51' W 3D.00' : TT+CWX N 34'SG•59" E 460.16THSNCE ALONG A CURWE 70 'NE LEFT THD 4CE N al'3$'35- 69.39"; TO PIE POINT OF L3EGTwmc, CQNTA1W1G 1.125 ACRES. MOPE OF LESS• 56 Wl l25 cn C) Cn STATE OF ARKANSAS COUNTY OF PULASKI S S I, Pat O'Brien, County Clerk of the aforesaid County, do hereby ce rtify Ih.jt the forr�roinc� instrument is a true d correc( r, py of (he vri ail s'ed in Ibis efficT on the. ' Jay r.,f 20 IN TESTIMOfVY lrkl( IE!=2E,of=, I ,iav�� here to set rr� and and affixed the seal of (his office this day fl� PAT=�%E 'Pday County Clerk BY r YFA CIVIL ENGINEERING DIVISION FINAL PLAT FILING APPROVALS FINAL PLAT NAME: colonel gleen center lot 19 INSPECTOR REPORT I have made a final inspection of the improvements and find that: All improvements shown on construction drawings for the development are constructed t and in conformance with City requirements/standards. Certain Improvements remain uncompleted as follows: :/ Engineering Specialist ENGINEER REPORT I have reviewed the file for this matter and find that: The maintenance bond has been submitted and it is the proper type and amount. Financial assurance for the uncompleted improvements listed above has been received. )val have been satisfied. Civil Engineer I/II SURVEYOR'S REPORT I have reviewed the plat and find that: All requirements for final plat approval have been satisfied. �. Surveyor / Z MANAGER APPROVAL All Civil Engineering requirements for filing this final plat have been satisfied. Design Review Engineer/Civil Engineering Manager October 2004 DEC-15-2004 WED 11:14 AM FAX N0, P. 02102 1. PON PINS (#4 REBAR) SET AT ALL LOT CORNERS 2- E IN[IAR' ERROR OF CLQSURE, EXCEEDS 1 /10000 UNADJUSTED 3. A[l. EASEMENTS MAY BE USED FOR DRAINAGE AND/OR UTILITIES 4, ALI- DIMENSIONS ON CURVES ARE CHORD DISTANCES. 5- BEARINGS DERIVED FROM PAGIS MON. # 2048 1""""AL PLAT Loy I n d �_�GLIFINNCE' I'vr)1',O'Nl-.-.) 1 ]'-iOCK, ARKANSAS cc__� Qcl -J� M: " i - Tr - � x 0 " [ r� R cep r;�v R r" 5Ur 10 OTTER CREEK COURT SUITE A L,I1-TLE ROCK, ARKANSAS 72210 PHONE 501-455-8899 W�TE: DECEMBER 7, 2004 \ ,nr)A\ 1�nI-mr;n This Instrument Prepared By: Price C. Gardner Friday, Eldredge & Clark, LLP 2000 Regions Center 400 West Capitol Little Rock, Arkansas 72201 t'1�1��kJkj�2$8 91/18/2Wb 19:34:5'1 AM filed & RPl:Drded in Official Records of PAI' 01BR1EN PULASK1 COUNTY CIRGUlf/WUNfY CLERK l� Fee:- 314.bd a Cz FIRST AMENDMENT TO DECLARATION OF RESTRICTIONS AND COVENANTS COLONEL GLENN CENTRE ADDITION This First , pendment of Declaration of Restrictions and Covenants ("Amendment") is made as of the day of January, 2005, by Boen Enterprises LLC, an Arkansas limited liability company ("Boen" or "Grantor"). RECITALS WHEREAS, Grantor has caused a Declaration of Restrictions and Covenants, Colonel Glenn Centre Addition, to be filed as Instrument No. 2004105110 on December 28, 2004, and re -filed as Instrument No. 200500125 on January 5, 2005, in the Official Records of the Circuit/County Clerk of Pulaski County, Arkansas (the "Declaration"); and WHEREAS, Exhibit "D" to said Declaration contains certain legal descriptions for the easement areas described in the Declaration and the Exhibits attached thereto and Grantor has discovered an error in the legal descriptions and desires to correct the same by filing this Amendment. NOW, THEREFORE, in consideration of the foregoing and the Covenants and agreements set forth herein, Grantor agrees as follows: 1. Substitution„qf Exhibit "D". Exhibit "D" of the Declaration is hereby amended, superceded, and replaced by Exhibit "D" attached to this Amendment for the purposes of correcting the legal description of Easement #3 described thereon. 2. Effect of Amendment. Except for the substitution of Exhibit "D" attached to this Amendment, the remaining Declaration shall remain in full force and effect and shall not be deemed modified, amended, revoked, superceded or otherwise affected by this Amendment. In witness whereof, the Grantor has executed this First Amendment effective as of the day and year first written above. ®PPDevktop%':ODMA/GRPWISEJLR.PO.Tax Li6tary: 158119.1 BOEN ENTERPRISES LLC Leonard Boen, Manager 4.• ,��UIRe *'•+, Q O R ACKNOWLEDGMENT STATE OF ARKANSAS ) ss. COUNTY OF PULASKI ) On this the §�y of January, 2005, before me, a Notary Public, duly commissioned, qualified and acting, within and for said County and State, appeared in person the within named Leonard Boen, to me personally well known, who stated that he was the Manager, of Boen Enterprises LLC, an Arkansas limited liability company, and was duly authorized in his respective capacity to execute the foregoing instrument for and in the name and behalf of said company, and further stated and acknowledged that he had so signed, executed and delivered said foregoing instrument for the consideration, uses and purposes therein mentioned and set forth. My Commission Expires: n jo �•�`M •-'� No 1 r NOTARY PUBLIC Q Sk f C OWN �Rtti�' ►►►+rr+lrlm►u►►•`t ®PFDealnop\ :ODMA/ORPWISFJLR.PO.Tax Library:158119.1 Lo r` O d i 2blt5[i028�1 EXHIBIT "D" Access and Utility Easement Areas r� Q Part of the NE 1/4 of Section 21, T-1-N, R-13-W, Little Rock, Pulaski County, Arkansas, being more particularly described as: Commencing at the NW corner of the E'/z NE 1/4 of Section 21; thence S 01 ° 38' 3 5 " W along the West line of said E'/z NE 1/4 761.83; thence N 13' 59' 32" E 43.35; thence N 76° 02' 39" E 282.36'; thence N 68' 28' 19" E 87.16 ; to the South right of way of Col. Glenn Road; thence S 88' 55' 1211 E 149.65' to the point of beginning; thence S 88' 55' 12" E 40.00% thence S 01' 38' 35" W 69.39% thence along a curve to the right, having a radius of 1200.00' and chord bearing and distance of S 18' 17' 47" W 687.79; thence S 34' 56' S9" W 460.76'; thence N 55' 02' 51" W 30.00; thence N 34' 56' 59" E 444.04; thence along a curve to the left having a radius of 1165.00' and a chord bearing and distance of N 18' 17' 47" E 687.79'; thence N 01' 38' 35" E 85.71% to the point of beginning, containing .938 acres, more or less. Easement Description Part of the NE 1/4 of Section 21, T-1-N, R-13-W, Little Rock, Pulaski County, Arkansas, being more particularly described as: Commencing at the NW corner of the E'/Z NE 1 /4 of Section 2 l; thence S 01 ° 38' 35" W along the West line of said E '/z NE 1/4 761.83 ; thence N 13 ° 59' 32" E 43.35 ; thence N 76` 02' 39" E 282.36; thence N 68' 28' 19" E 87.I6'; to the South right of way of Col. Glenn Road; thence S 88° 55' 12" E 189.65' to the point of beginning; thence S 8$' -55' 12" E 60.00'; thence S 01' 38' 35" W 17.59% thence along a curve to the right, having a radius of 1252.50' and chard bearing and distance of S 18' 58' 52" W 747.82; thence S 34' 56' 59" W 477.47; thence N 55' 02' 5 1 " W 30.00; thence N 34' 56' 59" E 460.76; thence along a curve to the left; thence N 01' 38' 35" E 69.39'; to the point of beginning, containing 1.125 acres, more or less. ®PFDeaktop%::ODMA/GRP W ISPJLR.PO.Tax_Library:158119.1 This Instrument Prepared By: Price C. Gardner Friday, Eldredge & Clark, LLP 2000 Regions Center 400 West Capitol Little Rock, Arkansas 72201 20Wt1FWWb289 01/18/205 10:34:58 AM Filed a Recorded in Uft'irial Records of PAT 01NR1EN PULASKI COUNTY CIRCUIT/LUUNIY CLERK fees f38.00 p0 CD 4 DECLARATION OF SIGN EASEMENT ON LOT 4 COLONEL GLENN CENTRE ADDITION THIS SIGN EASEMENT ("Sign Easement") is granted and made as of the 141 day of Ti=�u2005 by Boen Enterprises LLC, an Arkansas limited liability company ("Boen" or Boen may hereinafter be referred to as the "Grantor"). RECITALS WHEREAS, the Grantor has caused the lands described on Exhibit A-1 attached hereto (the "Property") to be surveyed by McGeterick Engineering, Inc., Engineers and Land Surveyors, and a proposed plat made thereof, identified by the title "Colonel Glenn Centre Addition, Little Rock, Arkansas" (the "Addition"). The proposed plat bears the signatures and seals of Patrick M. McGeterick, Registered Professional Engineer, and Robert C. Lowe, Jr., Registered Professional Land Surveyor (the "Plat"), a copy of which is attached hereto as Exhibit A-2 and made a part hereof. WHEREAS, this Sign Easement is made with respect to the real property designated and shown as proposed Lot 4 on the Plat, which real property is hereinafter referred to as "Lot 4"; and WHEREAS, the Grantor is the Fee Owner of Lot 4; and WHEREAS, the Grantox desires to file this Sign Easement to grant the fee owner of Lot 19 and such owner's successors and assigns (the "Lot 19 Owner") an easement for the installation, maintenance and operation of a sign. Grantor and those future fee owners of Lot 4 or 19, as the case may be, may be hereinafter collectively referred to as "Parties" or singularly as a "Party"; and WHEREAS, the Grantor hereby establishes, to the fullest extent permitted by law, certain easements, covenants, declaration and charges with respect to the installation, maintenance and operation of a sign on Lot 4 as are hereinafter set forth, subject to which all of Lot 4 and every portion thereof, shall be improved, held, exchanged, leased, sold and/or conveyed r — 49 LU •r 'ti�ea�s.■is NOW, THEREFORE, in consideration of the foregoing, and the covenants and agreements set forth herein, thCY) Grantor agrees as follows: n 1. Sign Easement. Q (a) Grantor hereby grants and reserves to Lot 19 Owner and its successors and assigns acquiring fee ownership of Lot 19, subject to the approval of the City of Little Rock and compliance with all governmental requirements described in Paragraph 2 below, an easement to erect an off -site directional sign for the benefit of the Lot 19, Colonel Glenn Centre Addition, City of Little Rock, Pulaski County, Arkansas and described on Exhibit `B" attached hereto ("Lot 19") on the Sign Easement Area as designated on Lot 4, and a nonexclusive power easement in the street right of way area along the boundary of Lot 4 fronting Colonel Glenn Road and Talley Road, the same being depicted on Exhibit "C" (collectively the "Sign Easement Area") for a sign not to exceed the maximum area and height permitted by the City of Little Rock and otherwise in compliance with all governmental requirements described in Paragraph 2 below (the "Sign"). The Sign Easement Area shall be for the sole benefit of the owner of Lot 19, Colonel Glenn Centre Addition and its successors and assign -Awrbjeet4. (b) The Lot 19 Owner and its successors and assigns, as owners of Lot 19 shall use, maintain and repair the Sign and any and all related electrical installations located on and to the Sign and shall pay all costs for installation, maintenance and repair, utilities and any expense of any nature whatsoever directly related to the use, repair, maintenance and operation of the Sign. (c) The Grantor and its successors and assigns shall prompt y and at its own expense repair any damage to the Sign Easement Property on Lot 4 depicted on Exhibit "C", except for damages caused by the Owner of Lot 4 or its respective contractors, agents and/or employees. The Lot 19 Owner and its successors and assigns shall have the right of ingress and egress on Lot 4 as reasonably necessary for the ongoing maintenance, repair and replacement of the Sign. (d) Notwithstanding the reference to the type and size of the Sign in subparagraph (a) above, the Sign shall at all times comply with and conform to all then existing applicable sign ordinances and permits granted to the Lot 19 Owner. (e) The Lot 19 Owner and its successors as owners of the Lot 19 shall indemnify the owner of Lot 4 and its successors from any loss„ costs or damages, including attorney's fees and costs, arising from use of the Sign Easement Area by the owner of the Lot 19, its contractors, agents and/or employees. (f) Upon the expiration of term of the easement granted herein or upon the Lot 19 Owner's cessation of use of the Sign, the Lot 19 Owner shall cause the Sign to be removed from the Sign Easement Area and repair all damage to the Sign Easement Area. Compliance with Governmental Requirements. The construction of any signage or improvements wtthin the Sign Easement Area shall comply with and be subject to all codes, rules and regulations, zoning ordinances and requirements imposed by the City of Little Rock, Arkansas Highway and Transportation Department and any other federal, state, county or local authority and any Sign Easement having jurisdiction over the Sign Easement Area. 2 Right to Locate on Monument Si gn. In addition to the rights granted under Paragraph 1 above with respect to the Sign Easement Area, the Grantor hereby grants and reserves to Lot 19 Owner and its successors and assigns acquiring fee ownership of Lot 19, the right to install and maintain a sign located on the monument sign, if any, for Colonel Glenn Centre reserved on Lot 1 in the area described on Exhibit "E" attached hereto and made a part hereof. In the event Grantor or any successor to Grantor elects to install a monument sign displaying the names of the owners or tenants occupying lots located 45 the Colonel Glenn Centre Addition, the Owner of Lot 19 shall have a pre-emptive right, subordinate only to the rights of the owner of Lot 1, for the top sign location on such monument sign. Such sign shall be similar in size and appearance as the other identification signs on the monument sign. Such sign shall be installed and maintained as a common expense of those parties located on the monument pursuant to the terms of the Declaration of Restrictions and Covenants for Colonel Glenn Addition covering the Property; provided, however, each party shall be responsible for the cost of their signage located on the monument sign. 4. Duration. Unless otherwise canceled or terminated, all of the easements granted in this Sign Easement shall continue in perpetuity and all other rights and obligations hereof shall automatically and be of no further force and effect ninety-nine (99) years after the date of filing hereof. Modifications. All negotiations and oral agreements acceptable to the Grantor have been incorporated herein. Except as otherwise provided herein, this Sign Easement may not be modified in any respect whatsoever or rescinded, in whole or in part, except by a writing executed by the then current owner of Lot 4 and then current owner of Lot 19. 6. Miscellaneous. (a) Not a Public Dedication. Nothing herein contained shall be deemed to be a gift or dedication of any portion of Lot 4 to the general public or for any public purposes whatsoever, it being the intention of the Owners that this Sign Easement shall be strictly limited to and for the purposes herein expressed. (b) Severability. If any term or provision of this Sign Easement or the application of it to any person or circumstance shall to any extent be invalid and unenforceable, the remainder of this Sign Easement or the application of such term or provision to persons or circumstances other than those as to which it is invalid or unenforceable shall not be affected thereby, and each term and provision of this Sign Easement shall be valid and shall be enforced to the extent permitted by law. (c) Governing Law. This Sign Easement shall be construed and enforced in accordance with, and governed by, the law of the State of Arkansas. (d) No Presumption. This Sign Easement shall be interpreted and construed only by the contents hereof and there shall be no presumption or standard of construction in favor of or against any Owner. (e) Inurement. This Sign Easement and the easements, covenants, benefits and obligations created hereby shall inure to the benefit and be binding upon each owner, and their respective successors and assigns (f) Other Agreements. Nothing herein shall restrict an owner from imposing upon an tenant of Lot 4 more Sign Easement and/or higher standards than set forth herein. (g) Subdivision and Zoning Ordinances. Notwithstanding any provision hereof to the contrary, any n lawful Sign Easement imposed by the City of Little Rock which is more restrictive on use than the provisions hereof shall be h applicable and shall supersede the provisions hereof. � (h) Entire Agreement. This Sign Easement constitutes the entire agreement regarding this subject matter~ between the Parties hereto. The Parties do not rely on any statement, promise or representation not herein expressed, and this Sign Easement, once executed, delivered and filed, shall not be modified or altered in any respect except as provided herein. (i) No Third Partv Beneficiaries. No party, other than the Fee Owner of Lot 4, the Fee Owner of Lot 19, the Grantor and their respective heirs, successors and assigns shall have any rights or benefits of this Sign Easement. (j) Covenants RulMin&Aith the Land. All provisions of this Sign Easement, including the benefits and burdens, run with the land and are binding and inure to the assigns, mortgagees, successors, lessees and tenants of the parties herein. IN WITNESS WHEREOF, this Sign Easement has been executed as of the date first above written. Boen Enterprises LLC By: _ .U,_ — Leonard Boen, Manager ACKNOWLEDGMENT STATE OF ARKANSAS ) ) ss. COUNTY OF PULASKI ) On this day, before me, a Notary Public, duly commissioned, qualified and acting, within and for said County and State, appeared in person the within named Leonard Boen, to me personally well known, who stated that he was the Manager of BOEN ENTERPRISES LLC, an Arkansas limited liability company, and that he was duly authorized in his capacity to execute the foregoing instrument for and in the name and behalf of said limited liability company, and further stated and acknowledged that he had so signed, executed and delivered said foregoing instrument for the consideration, uses and purposes therein mentioned and set forth., " IN TESTIMONY WHEREOF, I hyR''? set my hand and official seal this / day o �'�_ A • �jdM ' F' y_ • • �� ►fig _ IQTARY _ P 13LI Q a My Commission Expires:=,�•f' :rr.�,p'! ye ( f' a 2bh514$5289 Exhibit List N Exhibit A-1 Legal Description of Property Exhibit A-2 Preliminary Plat Exhibit B Legal Description of Lot 19 Exhibit C Legal Description for Sign Easement Area Exhibit D Legal Description for Monument Sign Easement Area 5 � y 2005001125 Exhibit A-1 Legal Description . . i "And GQft RoadWlk�� hk r WAY4316 eiy 55 Wei � ■f=3; it �x end oti�� a[�e>� �[ said *mg � � � ■!'f�+e stlA>t�C11r# i�fi� Nrrik7i43 _Npr8eL3 dqpqa S9 Ad=ks���l� het Eo s �ei�t dp �t>�o4 erm o� akma Read: am= Sal t beowft mm&W,, a►asar.,a �� W PART OF TW- ME 1/4 UTTLE - 21, --1—N. R—Is—W. OEM WK MM AMCAN.110tv- �M AL" tie ''+T LJwE 4f&40 C$ 1\2 W 1/4 qF S1:COH 2i; SI, TO A ,78' - fAr �iF �� I4lbprf9'AM DSTil► SSSVI'fl0 � iIW11� :FF.1t8 n[ , MW ot: ' >� '�' y "zSB.t 55,w 1 Wor rw ONO Dam emed" tb d shed° p 1 Nart>,, R=99 13 Wig LINE Rock, pr:�ld att�sHW Conme(GORMteam 4C w welt11t•l,�tPJhl�jj47�1 n' *maSvI dWft3i■hm&xSS ■l�s� �1�eaa'.i9er,Enp�37 >�itsiwgli�aaCsaY s�oe■ir W SM1!t *N# 8 H dew I&w As W t07.9 fiat B 1 K .$�qei@3�rw�sW39f,��tt4t�}olds[�'� eie�rer�q �dC it Ni4*eet �=pdaftdsmerft elrbl�leN ?tA1eslt A+aw s dS9 b m U sftY P!',49 fed 4'MrltiW' *O" b■ se1u tr t pww wu* ig m :Jb ='Ails1 theM A7"1 �vidomdemwad* WV �is�15> 7ir ski as � hftnb*4 d �1b.apoi�a�titsEastrT ���v'1�o[VS r , 2005001125 r• d 0 w Labs gh_7,19, 20 ate 21; ' Exhibit A-2 Preliminary flat z(dll�ki�15`�cB9 I LF Exhibit B Legal Description of Lot 19 n Lot 19, Colonel Glenn Centre Addition, City of Little Rock, Pulaski County, Arkansas CD Exhibit C Sign Easement Area (Lot 4) la Part of the NE 1/4 of Section 21, T-1-N, R-13-W, Little Rock, Pulaski County, r� Arkansas, being more particularly described as: n CD C4 Commencing at the NW corner of the E 1/2 NE 1/4 of Section 21; thence S 01' 38' 35" W along the West line of said E 1/2 NE 1/4 761.83; thence N 13' 59' 32" E 43.35; thence N 76102' 39" E 282.36; thence N 68' 28' 19" E 87.16'; thence S 88° 55' 12" E 791.89; then S 01 ° 00' 18" W 5.00' to the point of beginning, thence S 88' 55' 12" E 5.00; thence S 01, 00,18" W 7.00; thence N 88' 55' 12" W 5.00; thence N 01" 00' 18" E 7.00' to the point of beginning, containing 35.0 sq. t}., more or less. 6 Exhibit C-1 Utility Easement Areas �`1 r TM� O I l I a 100' ACCESS & UTILITY EASEMENT r 48' ROADWAY cS I n s D I N m Q [� I m I I tJ I z I I D 00 i o{ 1 Q V) rn co I I 50' ACCESS & UTILITY EASEMENT 36' ROADWAY I o I in I f �� >I �D �M ! 0� I 1 �z nI o� I v� a < r .(�� I rn I < i ight of Way Areas O I M For [.)tilities �Ln I rn l � • 1 O r r M Z Z N1 I �II —2 ZIfQ (j M�D Lo NMZ I-r-I _ ZI V) an d � Ioo o� r m ew"zil wb289 Exhibit D Monument Sign Easement Area (Lot 1) CO Part of the NE 1/4 of Section 21, T-1-N, R-13-W, Little Rock, Pulaski County, Arkansas, being more particularly described as: Q C) Commencing at the NW corner of the E 1/2 NE 1/4 of Section 21; thence S 01' 38' 35" W along the West line of said E 1/2 NE 1/4 761.83; to the point of beginning; thence N 13' 59' 32" E 43.35 ; thence N 76° 02' 39" E 75.00; thence S 13' 57' 21" E 30.00; thence S 76' 02' 39" W 56.96; thence S 130 59' 32" W 81.95; thence N 760 00' 28" W 30.00% thence N 13' 59' 32" E 56.65' to the point of beginning, containing 0.106 acres, more or less. 10 This Instrument Prepared By: Price C. Gardner Friday, Eldredge & Clark, LLP 2000 Regions Center 400 West Capitol Little Rock, Vkansas 72201 H — 1 l 200410 i 10 12/28/2604 01:29:33 A Filed 8 Recorded in :Official Records of CAROLYN STALEY PULASKI COUNTY CIRCUIT/COUNTY CLERK OD r"ees 05.06 CD C) CD C\J DECLARATION OF RESTRICTIONS AND COVENANTS COLONEL GLENN CENTRE ADDITION THIS DECLARAMN OF RESTRICTIONS AND COVENANTS (this "Declaration") is made as of the A09 day of Dece,"de--, 2004 by Boen Enterprises LLC, an Arkansas limited liability company ("Boen" or Boen may hereinafter be referred to as the "Grantor"). RECITALS WHEREAS, the Grantor has caused the lands described on Exhibit "A-1" attached hereto (the "Property") to be surveyed by McGeterick Engineering, Inc., Engineers and Land Surveyors, and a pmposed plat made thereof, identified by the title "Colonel Glenn Centre Addition, Little Rock, Arkansas." The proposedplat bears the sigx:,amm and seals ofPatriek M. McGeterick, Registered Professional Engineer, and Robert C. Lowe, Jr., Registered Professional Land Surveyor (the "Phu', a copy of which is attached hereto as Exhibit"A-2 and made apart hereof; WHEREAS, the Grantor is the Fee Owner of the Property; WHEREAS, the Grantor desires to file this Declaration to protect its interest and the interests of others which may in the future become Fee Owners of a Lot or the Property. Grantor and those future fee owners may be hereinafter collectively referred to as "Parties" or singularly as a "Party"; and WHEREAS, the Grantor hereby establishes, to the fullest extent permitted by law, certain covenants, restrictions and charges (collectively, the "Restrictions") as are hereinafter set forth, subject to which all ofthe Property and every portion thereof, shall be improved, held, exchanged, leased, sold and/or conveyed. Each of the Restrictions is imposed upon each Lot in the Property as a mutual equitable servitude in favor of the other Lots and every part thereof. Each of the Restrictions shall create reciprocal rights and obligations among each of the owners; they shall further create a private contract and estate between current and future owners of the Lots and the Property and their heirs, succt�sors, and assigns; and they shall be and operate as covenants running with the land for the benefit of the Property in each and every part and portion thereof. NOW, THEREFORE, in consideration of the foregoing, and the covenants and a eats sdt`forth herein, the Grantor agrees as follows: 0.40E 4 `� LUJ dr ► 4 N 1' - A to co CD 1. Dew. Q (a) "Building " shall mean those areas shown as Building Area, i.e., within the N setback lines or any waiver thereof made by the City of Little Rock and filed of record, on the Site Plan, i.e. which are the areas which are not within the setback lines or areas designated as casements. (b) "Declm4-- n" shall mean this Declaration of Restrictions and Covenants. (c) "Detention Pond" shall mean that area of the Property located on Lot 21 consisting of approximately 1.2 acres (52272 square feet), so designated on the Plat attached as Exhibit "A-2". (d) 'Unjina e Plan" shall mean that plan as set forth on Exhibit "C„ (e) "Initial Use" shall mean the opening of such business to the public for at least ninety (90) consecutive days. (f) "Lot" or "Lots" shall mean any area separately drawn on Exhibit "A-2" and designated as a Lot and any property hereinafter conveyed by any Owner located within the bowidaries shown on Exhibit "A-2" for the Property, as such may now or hereafter be finally platted, subdivided, re - platted or re -subdivided and all such Lots collectively. (g) "Ma'ori in Interests of the Owners" shall mean each oftheOwners ofL.otswhose aggegate area is greaterthaa 499,951 square feet (i.e., more than one-half of the square footage contained in , Lots 2 through 7,19, 20 and 211ess the area of the Detention Pond, i.e., based on approximately 24.15 acres, or,1,051,974 square feet, less 52,272 square feet of Detention Pond area = 999,702 net square feet in the Lots x 50•10 = 499,851 square feet). Provided, however, no Owner may unreasonably withhold or delay its consent unless (i) the request is to change a No Build Area, or (ii) such Owner reasonably believes the arnend went requested is in violation ofa law, ordinance or governmental regulation. The final actual square footage shall be based on a final survey of the Property prior to final platting of the Property. (h) "No Build Area" shall mean any area designated as nearer a boundary line from a setback line, right-of-way easement area or the Detention Pond where no vertical construction other than signage shall occur. Paving and other "flat" improvements are allowed in the No Build Area. (i) "Owner" or "Fee Owner" shall mean the Owner of a fee interest in the Property Development and their respective a&sigm, grantees, and successors in interest. Owners shall collectively refer to each Owner. 0) "Plat" collectively shall mean all the Preliminary Plat describing Lots 2 through 7, 19,20 and 21 in Colonel Glenn Centre Addition to the City of Little Rock, Pulaski County, Arkansas, a copy of which is attached hereto as Exhibit "A-2", as such may now or hereafter be finally platted, subdivided, re - platted or re, -subdivided, provided, however, the location of the Access Drives shall not be amended without the unanimous consent of all of the Owners, not shall any ofthe Access Drives be allowed to connect with or to any Property other than Lots 1 through 7, 19, 20 or 21, without the consent of all of the Owners. 110 (k) "Pro gata S " shall mean the Owner's pro rata share expressed as a percentage oD of the gross square footage of such Owner's Lot compared to the total gross square footage of all Lots and the d C� Property (excluding the Detention Pond Area on Lot 21) shown on the Plat (which for purposes of this CZ) C\! Declaration shall be 999,702 square feet). Additionally, with respect to any obligation to pay expenses which includes Lot 1 as defined in Paragraph 19 below, the Pro Rate Share of each Lot shall be adjusted to include gross square footage of Lot 1(12.94 acres or 563,666 square feet) in the denominator, for a total denominator in such event of 1,563,368 square feet. 0) "Site Plan" shall mean that Site Plan attached hereto as E bit Any terms used on Exhibit "A-2". Exhibit "A-3" or Exhibit "C" shall have the same meanings herein as attributed to those terms on Exhibit" 'bit " - " or Exhibit "C" 2. pgdg and Construction of Huildin . (a) ENigr& Constructim and ce. Grantor, for so long as Grantor owns any interest in the Property, and thereafter the Architectural Committee, must approve all initial construction, including architectural theme, design, color, access and parking. All exterior construction must be brick, stucco or another approved masonry facade, excluding concrete block, and using colors approved by the Grantor or the Architectural Committee, as the case may be, said approval not to he unreasonably withheld or delayed. All uses that conform with existing zoning are permitted unless prohibited under Section 4 of this Declaration. If following initial construction of buildings on any Lot, the existing exterior of any then existing building is substantially remodeled or there is a rebuilding following a casualty, then unless the remodeling or reconshu0tion is 9ubsWntlally Similar to the prior existing exteriors, the architectutal theme, design, color, materials, such remodeling or rebuilding shall be subject to the approvals required under this Section 2. Once initiated, all building construction must be diligently prosecuted to completion. Any rooftop equipment shall be appropriately screened. All exterior dumpster or trash disposal locations shall be completely encased with a fence or other solid wall constructed of materials used in the construction of the Fee Owner's building and similar in style and appearance and gated such that such dumpsters or trash containers are not visible from the other Lots. No wood fencing shall be allowed on any Lot. Following completion of construction of building and improvements on the Building Area(s), the Owner thereof shall maintain all buildings and other improvements in good condition and state of repair, ordinary wear and tear and the effects of time, excepted. The Architectural Committee shall be elected by the Board of Managers of the Owners' Association and shall consist of not less than three (3) representatives. (b) HeigM Restrictions. In addition to the height restrictions imposed under the zoning affecting the Property, no construction for the initial use located on Lots 2, 3, 5 and 7 as shown on the Plat shall exceed thirty-two feet (32') in height, provided, however, not more than ten percent (10%) of such building area may be constructed to a height not to exceed thirty-six feet (36') for decorative features, chimneys, parapet walls and other improvements that are consistent with the theme of any national or regional CO chain restaurant or other business to be located thereon. The restrictions under this subparagraph (b) may not CZ) 0 be amended or modified without the consent of the Owner of Lot 19; provided, however, the restrictions shall O R1 automatically terminate and lapse if Lot 19 is no longer used as a hotel or motel. (c) Obi on to Rebuild. In the event the improvements on any Lot are dc; t o +ed or damaged by fire or other casualty, the Owner of such Lot shall proceed with due diligence to repair and rebuild such improvements in a timely manner. In the event such Owner elects not to rebuild on the Lot within forty-five (45) days of such damage, then such Lot shall be cleared of all debris, including the former foundation of any building constructed thereon, and all non paved areas shall be covered with sod or other landscaping materials consistent with the appearance of any other unimproved Lots located within the Property, if any. 3. Build No building or other structure shall be constructed upon any Lot in the Property other than within the "Building Area" on each Lot nor shall any building or other structure be constructed in any No Build Area. Notwithstanding the foregoing, canopies and roof overhangs (including supporting columns or pillars), foundations, doors, trash enclosures, and loading and delivery docks, covered areas attached to such docks, required emergency exits (including stairs and landings and footings and foundations associated thcrewith), and doors for ingress and egress may project ftom any building or structure provided that improvements do not encroach on any other Lot; and further provided, any such projection or extension must comply with all applicable laws, rules, ordinances and regulations of every governmental body having jurisdiction over the Property. Nothing herein shall permit an Owner to violate any required parking ratios. 4.er�mitted use. (a) sMIe d Restrictions. The types of uses permitted in the Property shall be of a retail and/or commercial nature found in upscale commercial developments in Little Rock, Arkansas; provided, nothing contained herein shall be construed to require any Owner to open or operate any form of business in the Property for any period of time or at all, but it may operate any form of business not prohibited herein or by law or otherwise. The following uses shall be prohibited on the Property: (i) Any production, manufacturing, industrial, or storage use of any kind or nature, except for storage of products incidental to the retail sale thereof from the Lot. (ii) Undesirable entertainment or recreational facilities. As used herein, "undesirable entertainment or recreational facility" includes, a skating rink, massage parlor, discotheque, dance hall, teen club, night club, bar or tavern, flea market, head shop, pornographic or "adult" store, bowling alley, or tattoo or body piercing parlor or establisbment; provided, however such restriction shall not prohibit any discotheque, night club, bar or tavern located completely within any hotel or motel constructed on a Lot and operated incidental to the principal use of such Lot (iii) Any use which creates a nuisance or materially increases noise or the emission of dust, odor (but not including restaurants which are otherwise permitted), smoke, gases, does not preserve the "sprinkler" fire insurance rates, or increases explosion or radioactive hazards on adjacent lots. moving operation; (iv) Assembling, manufacturing, distilling, refining, smelting, agriculture, or (v) Any mobile home or trailer court; labor camp, junk yard, stock yard, animal raising or veterinary hospital, except the temporary use of construction trailers during the period of construction, reconstruction or maintumce shall also be permitted; (vi) Any drilling for, in or rernoval of subsurface substances (other than normal geological, surface or subsurface, envirounwntai or other due diligence review or testing); (vii) Any dumping, disposing, incinerating or reduction of gwbage or refuse (exclusive of garbage compactors looted in the rear of any building); (viii) Any firs sale, going out of burin s sale, banlauptcy sale (unless pursuantto a court order) or auction hours Operation; plants; for upscadeAype stores; business; (ix) Any outdoor circuses, outdoor public meetings, or commercial laundry (x) Any "second hand" store, Army, Navy or government "surplus" store, except (xi) Any stand alone canvenienee store, liquor store, tobacco store or similar (xii) Any automotive or !nick repair or parts store, car wash or detail shop not associated with and located within a new automobile or truck dealership; (xiii) Any dry cleaners; (xiv) Any fast food restaurant; and _. (xv) Any pawnshop, a business whose primary activity is check cashing, paycheck loan operation, or the like. The restrictions imposed under this Paragraph 4 shall be a servitude upon the Property and shall be binding upon any person acquiring an interest in any part of the Property, whether in fee, by lease or otherwise. The foregoing rwWwftons contained in this Paragraph 4 may not be an=ded without written consent of the Grantor, for so long as the Grantor owns an interest in the Property, and the unanimous consent of all of the other Owners. (b) AddggpdRqgdqgons on Initial LJse ofCertain Lots. In addition to the general restrictions on use set forth in (a) above the following Lots shall have additional restrictions on the initial use thereof: (i) Lot 19. The initial permitted use of Lot 19 shall be restricted to use as a Holiday Inn Express motel only. The restrictions imposed under this Paragraph 2 shall be a servitude upon Lot 19 and shall be binding upon any person acquiring an interest in any part of Lot 19, whether in fee, by lease or otherwise for the initial use of Lot 19. Following the initial use of such Lot 19 as a Holiday Inn Express, the restrictions on use solely as a Holiday Inn Express shall expire and become null and void; however, any subsequent use shall be subject to the restrictions set forth below. The restrictions on the initial use of the Lot 19 contained in this Paragraph 4(b)(i) may not be amended without written consent of the Grantor. Any subsequent use of Lot 19 following the expiration of the restriction on initial use, any subsequent use of Lot 19 shall be consistent with the zoning covering Lot 19 and not otherwise prohibited hereinabove. (ii) Lots 2 3and 4. The initial type of uses permitted in the Lots 2, 3 and 4 shall be restricted to sit down, national brand name resuwrants, banks and/or financial institutions only. Furthermore, until the earlier of (i) August 8, 2005, or (ii) Grantor shall have sold at least two of Lots 2 through 7 for Initial Use as two (2) sit down, national brand name restaurants the initial use of at least two of Lots 2, 3 and 4 shall be restricted solely to sit down, national brand name restaurants. It is the intent of the restrictive covenant that at least two (2) national sit down brand name restaurants be located on Property constituting the Lots 2 through 7; provided, however, there shall be no restrictions on the use of Lots 5, 6 and 7 except as set forth in subparagraph (a) above, subparagraph (b) (iii) below, or in the event the national brand name restaurants are not built on Lots 2, 3 and 4. The restrictions imposed under this Paragraph 2 shall be a servitude upon the Lots 2, 3 and 4 and shall be binding upon any person acquiring an interest in any part of the Lots 2, 3 and 4, whether in fee, by lease or otherwise for the initial use of the Lots 2, 3 and 4. At the request of a national sit- down restaurant, Lots 2 and 3 may be re -platted into one lot for such user. Following the Initial Use of such Lots 2, 3 and 4 the restrictions on use solely as to sit down, national brand name restaurants, banks and/or financial institutions sball expire and become null and void. The restrictions contained in this Paragraph 4(bxii) may not be amended without written consent of the Grantor for so long as the Grantor owns an interest in the Addition and the Owner of Lot 19 as provided herein and thereafter after a seventy-five percent (75) Pro Rata Share of the Owners of the Property reflected on the Plat, as may be hereafter amended or modified. Any such requested consent may be withheld in the sole and absolute of the Grantor or other Lot Owners, as the case may be. The foregoing notwithstanding, in no event shall any subsequent use be inconsistent with the zoning covering the Lots 2, 3 and 4 and not otherwise prohibited in this Declaration. The restrictions under this subparagraph (bxii) may not be amended or modified without the consent on the Owner of Lot 19; provided, however, the restrictions shall automatically terminate and lapse if Lot 19 is no longer used as a motel or hotel. C) Co CZ) O CZ) C\.! (iii) Lots 5, 6 and 7. In addition to the restrictions on use set forth in Paragraph 4(a) above, the initial type of uses permitted on Lots 5, 6 and 7 shall be further restricted to exclude from Initial Use any new automobile or truck dealership. The restrictions on Initial Use on Lots 5, 6 and 7 shall automatically terminate and lapse following the Initial Use of the Property as permitted in this Declaration. The restrictions contained in this Paragraph 4(b)(iii) may not be amended without the consent of the Grantor, for so long as Grantor owns an interest in the Addition and Owner of Lot 19 as provided heroin and thereafter a majority of the Owners of the Property reflected on the Plat, as may be hereafter amended or modified. Any such request to consent may be withheld in the sole and absolute discretion of the Grantor or other Lot Owners, as the case may be. The restrictions under this subparagraph (bxiii) may not be amended or modified without the consent of the Owner of Lot 19; provided, however, the restrictions shall automaticaIly terminate and lapse if Lot 19 is no longer used as a motel or hotel. 5. QbWliance with Qo3LeMmmt&I Restrictions. The construction of any buildings or improvements on the Property and the Access Drives and Detention Pond shall comply with and be subject to all building codes, zoning ordinances and restrictions imposed by the City of Little Rock, Arkansas Highway and Transportation Department and any other federal, state, county or local authority and any restrictions having jurisdiction over the Property. 6. No re-P'le S on or Re -Zoning of Lot Permitted, No Fee Owner of the Property shall be permitted to re -plat, subdivide or re -zone any portion of the Property during the term this Declamtio n is in effect without the without written consent of the Grantor for so long as the Grantor owns an interest in the Property and a Majority in Interest of the Owners as may be hereafter amended or modified. Any such requested consent may be withheld in the sole and absolute of the Grantor or other Owners as the case may be, The foregoing notwithstanding Grantor may re -plat or subdivide any Lot owned by the Grantor without the consent of any other Owner so long as such Lot as ro-platted or subdivided remains subject to the restrictions on the use of such portion of the Lot as on gmally shown on the Plat (for example, the re -platting of Lots 2 and 3 as new Lot 2R would not relieve such property from the restriction on use imposed under Paragraph 4(bxii)). 7. Access Ea seraenLs. The Grantor does hereby dedicate, create, establish and declare aprivate, perpetual, non-exclusive easement over, through, upon and across the Property shown on Plat as the Access Drives (the "Access Drive Areas') to serve as a means of pedes man and vehicular access and way of ingress and egress for the use and benefit of the present Owner and future Owner(s) of the Lots and Property, and their respective lessees, employees, contractors, mortgagees, customers, tenants, licensees and invitees, in the full use and enjoyment of the Property on the following terms and conditions: (a) Grout of Aems,jaM and EgWBasenment. Grantor does hereby dedicate, create, establish, and declare a private, perpetual, non-exclusive access, ingress and egress easement over, through, upon and across that portion of the Property more particularly shown as the Access Drive Areas and cross- M hatched on P,xhibit `,D" attached hereto to serve as a means of vehicular access and way of ingress and egressCD O to and from Colonel Glenn Road and/or Talley Road for the use and benefit of the present Owner and future CD Owner(s) of the Lots and Property, and their respective lessees, employees, contractors, mortgagees, customers, tenants, licensees and invitees, in the full use and enjoyment of the Lots and Property. The easement reserved on each Lot shall not exceed thirty (30) feet from the centerline of such Access Drive on the Lot of such Owner as shown on the Plat and shall not cotmect directly or indirectly to any property other than Lots 1 through 7,19, 20 or 21 without the consent of all of the Owners. (b) Construction ofAocess Drives. The Grantor shall install the Access Drive to access the Lots and Property and shall bear the cost of the construction of the initial Access Drives designated on the Plat as the "Access Drive Area" necessary for providing access to the Lots and Property from Colonel Glenn Road and Talley Road. The Access Drives, site improvements for such access driveways, drainage, sewer, curbs and guttering, sidewalks, turn -in and access lanes shall be constructed in accordance with the standards established by the Grantor and comparable to the standards of the City of Little Rock, Arkansas, required in connection with the improvements to Talley Road. The timing and installation of the Access Drive shall be determined based on development of the Lots to be serviced by such access and all such Access Drives necessary to access a Lot shall be completed no later than June 30, 2005. The Grantor shall not be required to install any traffic signals on Colonel Glenn Road or Talley Road. (c) Maintenance of Access Drive Area The Grantor small be responsible for the maintenance of the Access Drives during the initial twelve (12) month period following completion of the Access Drives at no cost to the Owners. The Access Drive Areas shall thereafter be maintained by the Owners Association in good condition and repair at their sole cost and expense. Such costs shall be handled in accordance with the provisions of Paragraph 8 below as it relates to common maintenance obligations. However, neither Grantor nor any other Owner (other than the responsible Owner -as defined in this subparagraph) shall be responsible for repairing any damage within the Access Drive Area directly resulting from another Owner's or its successors' delivery trucks or other actions of such Owner, its successors, mortgagees, lessees, assigns, contractors, licensees, invitees or employees (collectively, the "Responsible Owner'. (d) Mutual Obli. Grantor and Owner of the Lots and Property shall use the Access Easement Areas with due regard for the rights of each other. Grantor and the Owner of the Lots, and Property hereby agree to keep the easement areas free of obstacles or obstructions which would prevent or hinder the free passage of vehicular traffic within or across the easement areas. Grantor and the Owner of the Lots and property agree not to place barriers or blockades between their respective parcels and the easement areas. Notwithstanding the foregoing, nothing in this Agreement shall be construed as limiting either party's CV CT C) ability to use the easement areas for deliverytrucks. Neither by its party, nor its sexccessars, mortgagees, Q lessees, assigns, tenants or employees shall be permitted to park vehicles on the other party's parcel. If either N party fails to repair or maintain the easement area on its parcel, then the other party shall have the right, but not the obligation, to repair or maintain that portion of the easement area on the other party's parcel at its own expense. (e) Re-servatious. Each party hereby reserves the right to use the easement area located on its property for all purposes not inconsistent with the easements herein granted and to grant non-exclusive easements to others for any purpose which shall not interfere with the easemeots herein granted. (f) Na Publie Ri hts Created. Nothing herein shall create or be construed to create any rights in and/or for the benefit of the general public in or to the easement areas. (g) No Cross P . No invitees, employees or agents of an Owner or any tenant of an Owner shall have any right to park on the Lot of another Owner, except where the parties have made a separate agreeuremt_ 8. Access Drive Maintenance. Common. Lawn Maintenance Detention Pond and hands m ely1ces. (a) Payn=t of Pm Rata Share. The Fee Owners of the Lots and each owner of a lot or Portion ofdW Property WWI be reVonsibl a for their respective Pro Rata Share o£the costs ofmaintaining the Access Drives, Access Drive Areas, Detention Pond and any common lawn maintenance, irrigation and landscaping, utilities and maintermice of any sign easement area designated on a Lot or off of the Property for the benefit of the Owners or any portion of each Lot shown on the Plat along its boundary adjoining Colonel Glenn Road or Talley between the sidewalk and right of way of such road to the extent an Owner fails to do so as required under Paragraph 8(c) below (as depicted on Exhibit "E'), the maintenance and utility costs of any entrance lighting along the Access brives, reasonable administrative fees for overseeing the handling of the common areas and obligations hereunder if not handled by a third party agnnt, and such other common expenses approved by the Owners' Association. Grantor, for so long as Grantor owns a Majority in Interest of the Lots, and thereafter the Owners' Association, shall approve such costs, which approval may not be unreasonably withheld_ A vote of not less than a Majority in Interest of the Owners shall be required to approve any such actions (which Majority in Interest shall include the Owner of Lot 1 if such owner elects to participate in the Owners' Association as provided in Paragraph 19 below). Such costs and assessments against any Lot may be enforced against the Fee Owner of such Lot in accordance with Paragraph 14 below and shall constitute a lien on such Lot if unpaid within thirty (30) days of the date of invoice. In the event the Grantor or the board of managers ofthe Owners' Association (as defined in (b) below) determines it is in the best interest of the Owners of the Lots, and if a Majority in Interest of the Owners ratify such decision, the Grantor or the Owners' Association, as the case may be, may appoint a third party as agent of the owners to maintain the Access Drive Areas, Detention fond and the lawn maintenance and landscaping. Bach Owner of rn a Lot shall be responsible for its Pro Rate Share of the costs described in this Paragraph 8. The Owners shall b 4 be billed for such charges not less than serni-annually (or as otherwise approved by the Owners' Association O or, if not farmed, a Majority in Interest of the Owners) and shall pay all invoices within thirty (30) days of CZl receipt. (b) Owners' Association. (i) Formation ofOwners' Association. AnnuW Meeting and Vo inn . Effective upon the filing of this Declaration, the Grantor and the Owner hereby form an Owners' Association to be known as the "Colonel Glenn Centre Owners Association" (the "Owners' Association') for purposes of administering, eaforci ng and overseeing the respective rights, duties and obligations of the Owners under the Declaration. The Owners' Association shall not incorporate, but instead shall operate as an unincorporated association. Once formed, each Owner (including Grantor) and its successors in interests, shall be a member of the Owners' Association pursuant to the terms of this Declaration. The Owners shall hold a meeting not less than annually at such time and place as the Board of Managers may decide. Notice of such annual meeting shall be sent to each Owner not less than ten (10) days prior thereto. In any action requiring a vote of the Owners, each Owner's vote shall be based upon such Owners' Pro Rata Share of the total gross square footage of all Lots contained within the Property (as defined in Paragraph 10) above). The foregoing notwithstanding, the Owners shall have the right to formally incorporate the Colonel Glenn Centre Owners Association upon the adoption of Articles and Bylaws which are consistent with the governing provisions set forth in this Declaration and containing such additional terms and conditions as approved by the unanimous consent of the Owners. (ii) Board of Managm. The Owners' Association shall be governed by a Board ofManagers which shall be elected annually. Each Owner shall have the right to designate one representative to the Board of Managers for each Lot owned by such Owner (i.e., if the Grantor owns three Lots, then the Grantor would be entitled to appoint three representatives on the Owners' Association). Each Owner of a Lot shall have the discretion to remove and replace its manager representative(s) in such Owner's sole and absolute discretion. The Board of Managers shall meet on a semi-annual basis or as more frequently determined necessary by the Board ofManagem in order to address the concerns of the Owners or to address enforcement and administration of the Owners' obligations under this Declaration. In any action requiring a vote of the Board of Managers, each nmager shall have a voting right equal to one (I) vote with respect to each Lot represented by such manager. A manager may represent more than one Lot and shall have the cumulative voting rights of each Lot represented by such manager. (iii) ets and Assessments. The board of managers shall have the discretion to establish assessment or dues to be paid by the Owners to cover the cost to be paid by the Owners under this Declaration and to detcnuine the timing of such payments. The Owners' Association may also undertake CD such joint promotion of the Colonel Glenn Centre as approvod by a Majority in Interest of the Owners. The p foregoing notwithstanding, any capital expenditure or non -recurring special asse&Sment in excess of $50,000 C\-F in the aggregate during any twelve (12) consecutive month period shall require the ratification and approval of Owners voting in the aggregate not less than seventy-five percent (75%) of the pro rata share of the total gross square footage of all lots contained within the Property and, in the event the Owner ofLot 1 joins in this Declaration pursuant to Paragraph 19 below, including the total gross square footage of Lot 1. (iv) QffLeers. The manages board shall., on an annual basis, designate officers of the Owners' Association, which shall consist of a President, Secretary and Treasurer, and such additional officers as may be approved by the board of managers. The offices of Secretary and Treasurer may be held by the same person. The President shall be the chief executive officer of the Owners' Association and shall preside at all meetings of tale board o£managers and Owners and perform all duties incidental to the office of the President in overseeing the general day-to-day operation of the Owners' Association and such additional duties as the board of managers designate. The Secretary shall attend all moeti ngs of the board of rnaaagers and Owners and shall keep full and accurate records of all proceedings at such meetings, shall perform such duties as are incidental to the office of Secretary and such additional duties which may be assigned to the Secretary by the board of managers. The Secretary shall retain custody of all of the Owners' Association record books, The Treasurer shall have charge of the Owners' Assoeiation funds and pay all of the Owners' Association's bills, collect all monies due the Association and keep full and accurate books of account and all monies paid to and paid out of the Owners' Association. All such books and records shall be constantly open to the inspection of the Owners and the Treasurer shall provide an annual financial statement and reconciliation of the amounts received and paid out to the Owners. The Treasurer shall perform such duties as are incidental to the office of Treasurer and all. duties that the board of directors may from time to time assign to the Treasurer. No bond shall be required for the Tmsurer unless expressly required by the afl7rma dve vote of a Majority in Interest of the Owners. (c) Landsrsuinn. Each Owner will be responsible for the design, development and maintenance of the landscape on the Owner's Lot and continuous planting areas within the various rights of way and easement areas affecting said Owner's Lot. Contiguous lots owned by any Owner reserved for future expansion shall have the required landscape areas frontir!g on any city streets between the sidewalk area and the right of way of said stets fully developed at the times of the initial Use of the Owners Improvements on a contiguous parcel. Mowing of any undeveloped parcels shall be required at least weekly during the growing season. Dead or extensively damaged trees, ground cover or shrubs shall be replaced within thirty (30) days after damage with substantially identical trees, ground cover, or shrubs, etc., subject to deferral of replacement based upon seasonal conditions. In addition to the foregoing restrictions, with respect CT to those Lots which front Colonel Glenn Road or Talley Road, the Owner of such Lot shall install between the C7 sidewalk and curb of such street (the `right of way area') solid zoysia sod (Meyer Z-52) or other equivalent O N approved by the Grantor together with an appropriate irrigati on system to water the same. Such additional shrubbery or ground cover may be installed within this right of way area at the Owner's discretion. The foregoing notwithstanding, the Grantor shall have the right to install all such sod and irrigation system within the right of way area and treat such irrigation cost (but not the initial installation cost) as a common maintenance expense described in Paragraph $(a) above. Each Owner shall be responsible for mowing and maintaining the right of way area on its Lot in a manner consistent with such Owner's overall maintenance and mowing of remainuig landscaping on such Lot. Provided, however, in the event that such Owner fails to maintain such right of way area in accordance with the standards exhibited by the other Owners of Lots having frontage on Colonel Glenn or Talley Roads, the Owners Association shall have the right to assuuEa the irrigation, maitat=a2ce and mowing responsibilities within said right ofway area and shall directly charge the costs allocable thereto to the Owner of such Lot. 9. Drain e Utilily and Service 1~.asemmts. Grantor grants and subjects the Property to and grants for the benefit of each Lot, perpetual, nonexclusive easements within the Utility Easement Areas as shown on Exhibit "D" (the "Utility Easement Areas') for the installation, operation, flow, passage, use, maintenance, connection, repair, relocation, and removal of underground lines or systems for utilities serving any or all of the other Lots, including but not limited to, sanitary sewers, storm drains, cable TV, water (fire and domestic), irrigation, gas, electrical, telephone and communication lines, together with the right of ingress and egross for installation,- maintemwee and repair thereof necessary for the orderly development and operation of the Property and the Lots in accordance with the genenal requirements of the Site Plan and the drainage plan attached hereto as Exhibit "C". No easement shall be deemed granted under any Building Area . shown on the Site Plan or under any Building actually constructed. All construction, alteration, and repair work to any utility described in this Paragraph 9 shall be accomplished in an expeditious mmnrer, in compliance with all laws, rules, regulations, orders, permits, approvals and licenses of governmental authorities having jurisdiction. Such construction of any utilities by Grantor or any Owner shall be subject to the construction standards required to cause acceptance thereof by the City of Little Rock or utility service, as the case may be. The Owner undertaking such work shall take all reasonably necessary measures to minimi,e any disruption or inconvenience caused by such worl� and, except in the case of an emMenE cy, shall give the affected Owners and tenants written notice a minimum of seventy- two (72) hours prior to commencing such work. Such work shall be accomplished in such a manner as to minimize any damage or adverse effect which might be caused by such work to the Lot on which the work is being done. If such work requires excavation of any portion of any access road, the Owner causing such work to be done shall use all reasonable efforts to cause such excavation to commence and be completed t0 rn O during hours when the business places in the Property are not open for business to the public and, in any C) event, shall provide suitable alternative intr ess and egress immediately adjacent to said accem mad if it is not CD N practical to keep at least one lane of said access road open during the work Any excavation of any access roadway within the Property shall be properly backfilled within twenty-four (24) hours, if reasonably practical. The Owner undertakng such work shall repair at its own cost and expense any and all damage caused by such work and, upon completion of such work, shall promptly restore the affected portion of the Property or the Lot upon which such work is performed to a condition which is equal to or better than the condition which existed prior to the begmming of such work In addition, the Owner undertaking such work shall promptly pay all costs and expenses associated therewith and shall defend, indemnify and hold the other Owners harmless from all liens, claims of lien, injuries, damges, losses, or claims, including reasonable attorney's fees actually incurred at trial and appellate levels, attributable to the perfartnance or non- performance of such work Future Owners shall use their best efforts to cause the installation of such utility and service lines prior to paving of the Common Areas. No Owner shall undertake construction activity on another Owner's Lot or the Property not owned by such Owner without the prior consent of such Owner. 10. Water Flow and Sanitary Sewer. (a) P ow of Water. Grantor hereby reserves, grants, conveys, establishes and declares for the benefit of each Lot, a permanent, non-exclusive easement on, over, upon, across, under and through any portion of each Lot and as designated on the Drainage Plan and Site Plan for the benefit of the other Lots, as reasonably necessary for surface water run-off and, within any portion of each Lot which is not a Building Area, for the construction, insulation, use, maintenance and repair of any underground drainage system to receive surface water from the benefited Lot and conduct such water over each Lot as necessary to a discharge area. Subject to the approval'ofthe Grantor, not to be unreasonably withheld, the Owner ofthe burdened Lot shall determine in its sole, but reasonable, discretion the most effective location for drainage purposes forthe placement of any and all coarponenu of such dramage system to be located on its Lot (each Owner hereby agrees to the location for such improvements as shown on the Site Plan), and once any drainage line or lines have been installed on any Lot or otherwise, the portion of the applicable Lot encumbered by such easement granted in this paragraph shall be limited to the area within ten (10) feet on either side of the center line of such draiwge line. (b) Storm Water System. Grantor will construct on Lot 21 and the Owners Association shall thereafter maintain as a eonimion maintenance expense (as defined in Paragraph S above), each at its sole cost and expense, the Detention Pond shown on it A-2 and all improvements necessary to control the storm water nrnoff from such property and to transport the same under or across the Property to the Detention Pond to be constructed off -site as a part ofthe drainage plan shown on Exhibit "C". Each Owner is granted, so long as it or its property has complied with the provisions hereof, an easement for the use of the Detention Pond and the right to cause surface run off water from its Lot to drain in accordance with the Drainage Plan, 0-1 some of which may drain into the Detention pond. Each Owner shall indemnify and hold the Grantor and Q other Owners of Lot from and against any and all damages suffered by the Owner of a Lot including response q costs, environmenU clean-up costs and attorneys' fees and costs resulting from any environmental C\J contamination to the Detention Pond or such Owner's Lot which contamination came from, over, under or across that respective Owner's Lot to the Detention Pond. Failure to promptly pay Owner's Pro Rata Share shall create a lien on the defaulting Owner's Lot with no further action, and such lien shall be superior to any interestof a tenant or lender. (c) Sanitary S ewer. Grantor will provide sewer to the property line of each Lot at such location as deemed most efficient in the discretion of the Grantor and the Owners shall thereafter rnaiutain as a Common Area Maintenance Expense, each at its sole cost and expense, that portion of the sanitary sewer system serving the Property and located within the easement area and excluding any portion of the sewer line located on a Lot from the connection to the main line to the improvements on any Lot. Once any portion of said sanitary sewer line has been dedicated to and the responsibility for the maintenance thereof accepted by the appropriate government authority, then the maintenance responsibility set forth herein with respect to such portion shall automatically terminate. 11. SiMge. Each Owner shall have the right to maintain such signs on the interior ofbuildilp located on its Lot as it desires, whether or not such signs are visible from the exterior. As permitted by applicable governmental regulations, each Owner shall have the right to erect, maintain and replace freestanding signs or signs on the exterior of the buildings ("Building Signage") located on its Lot; provided, such Building Signage shall be constructed so as to lie flat against such exterior fascia facing outward and shall not protrude more than two (2) feet from the surface thereof; and provided further, in no event shall Building Signage be located on the roofs of any buildings in the Property without the prior written consent of the Grantor for so long as Grantor owns any interest in the Property and therraiter the Board of Managers of the Owners Association. Building Signage shall be either back lit or front lit individual channel letter signs and shall be in accordance with any city ordinances. 12. indemnification and jourance (a) irrderrmification. To the extent of such Owner's negligence, or willfiil or intentional act, each Owner hereby indemnifies, defends and saves the other Owners and tenants harmless from any and all liability, damage, expense, causes of action, suits, claims or judgments arising from personal injury, death, orproperty damage occurring on or from its own tract, except if caused by the actor negligence of the other Owner or tenant or invitee of the other Owner's Lot. (b) insurance• Each Owner agrees to procure or cause to be procured and maintained in full force and effect throughout the term of this Declaration general public liability insurance and property 00 Cn Q damage insurance againclaims for personal injury, death orproPerty damage occurring upon, in m about its st C=> property, each Owners insurance to afford protection to the limit of not less than $1,000,000.00 far injury or N death of a single person, and to the limit of not less than $2,000,000.00 for any one occurrence, and to the limit of not less than $1,000,000.00 for property damage. In the event that inflation renders the foregoing insurance limits commercially unreasonable, then each Owner shall carry insurance m comme=mUy reasonable amounts. The foregoing notwithstanding in the event the Owners' Association is able to obtain coverage described in this subparagraph (b) for the benefit of all Owners covering the Access Drives, Detention Pond and any other common areas the Owners shall be excused from maintaining coverage required under this subparagraph (b). At all times during the teen of this Agreement, each Owner shall or shall cause the improvements on its property to be insured against loss or damage by fire and other perils and events as may be insured against under the broad form of Uniform Extended Coverage Clause in effect from time to tune in the state of Asluasuas, with such insurance to be for the full replacement value of the insured improvements. (c) waiver of QMW Ri ts. Each Owner hereby releases all other Owners for itself and its,property insurer from and agaitlst any and all claims, deFnands, Liabilities or obli ¢P Lions whatsoever for dar❑age to each others property or loss of mats or profits of ilre other resulting from or in any way connected with any fine or other casualty whether or not such fire or other casualty shall have been caused by the neglignce or the contributoryugligence of the Owner being released orby auy agent, associate orenployee of the party being released, this release being to the extent that such damage or loss is covered by the property insurance which the releasing Owner is obligated hereunder to carry, or, if the releasing Owner is not carrying that insurance, then to the extent such damage or loss would be covered if the releasing party were carrying that insurance. (d) Contractor's lnsurance. Prior to commencing any construction activities within the Lot owned by such Owner, the Owner thereof shall obtain or require its contractor to obtain and thereafter maintain so long as such construction activity is occurring, at least the following minimum insurance coverage: (i) Workers' compensation - statutory limits; (ii) Employer's liability - One Hundred Thousand Dollars ($100,000); (iii) ConW­rehensive General and Comprehensive Auto Liability as follows: (1) "Combined Single Limit" (covering bodily injury liability, death and property damage) in any one occurrence of not less than One Million Dollars ($1,000,000); (2) Independent Contractors Liability or Owner's Protective Liability with the same coverage as set forth in (1) above; (3) ProducWCompleted Operations Coverage which shall be kept in efreet for two (2) years after completion of work; (4) "XCU' Hazard Endorseramt, if applicable; (5) "Broad Form" Property Damage Endorsements; (6) "Personal Injury" Endorsements; () "Blanket Contractual Liability>'ndorsernent. Provided, however, the Majority -in -Interest cri of the Owners may increase the coverage amounts required hereunder. O If the construction activity involves the use of the Common Access Drives or another Owner's Lot, O C:) then the Owners of such Lots shall be named as additional insureds and such insurance shall provide that the C\J same shall not be canceled without at least thirty (30) days prior written notice to the named insured. 14. Enf mt of Ob1i tions. In the event legal proceedings are brought or commenced to enforce any of the terms of this Declaration against any owner or other person with an interest in the Property, the successful party in such action shall be entitled to receive and shall receive from the defaulting owner any and all damages permitted by law, plus areasonable sum as attorneys, fees and costs, to be fixed by the court in the same action. Grantor, for so long as Grantor owns any portion of the Property, and thereafter the Owners' Association if then in effect or, if not, a Majority in Interest of the Owners, as may be hereafter amended or modified (with such majority in interest being detmunned based on the respective square foo tam of such lots) shall have the right to commence any action to enforce the obligations of the Fee Owner tinder this Declaration. In addition, the Owners of Lot 19 shall have the right to enforce the obligations and restrictions set forth. in Paragraph 4(bxii) above and any Owner shall have the right to enforce the obligFS6ons and restrictions set forth in Paragraph 4(a) or (b), unless a Majority in interest of the Owners have approved such use or re -platting, mhdivision br re -zoning. 15. Duration- Unless otherwise canceled or Wminaled, all of the easements granted in this Declaration shall continue in perpetuity and all other rights and obligations hereof shall automatically and be of no further force and effect ninety-nine (99) years after the date of filing hereof. 16. IuioditcatiM All negotiations and oral agreements acceptable to the Grantor have been incorporated herein. Except as otherwise provided herein, this Declaration may not be modified in any respect whaLsacver or rescinded, in whole or in part, except by a writing executed by the Grantor, for so long as Grantor owns any portion of the Property, and thereafter a Majority in Interests of the Owners of the Property. 17. Eminent Domain. Nothing herein shall be construed to give any Owner any interest in any award or payment made to any other Owner in connection with any exercise of eminent domain or transfer in lieu thereof affecting any other Owner's Lot or giving the public or any government any rights in the Lots. Nothing in this Paragraph shall prevent a tenant from making a claim against an Owner pursuant to the provisions of any lease bel'ween tenant and Owner for all or a portion of any such award or payment. Provided, however, the terms of any agreement between the Owner and any lessee shall govern the rights of those parties under condemnation. �.w O 18. Miscellaneou.4. CV (a) Not a ftiic Dedication. Nothing herein contained shall be deemed to be a gift or dedication of any portion of the Property, including, but not limited to, the Access ]hives, to the general public or for any public purposes whatsoever, it being the intention of the Owners that this Declaration shall be strictly limited to and for the purposes herein expo unless there is a formal dedication of such improvements or Access Drives to the City of Little Rock or utility service and a formal assumption thereof by such grantee. In the event of the dedication and assumption of the Access Drives or any utilities described herein, the obligations of the Owners with respect to the maintmazice thereof shall cease upon the grantee's express assumption thereof. (b) Seyerabiiit - If any term or provision of this Declaration or the application of it to any person or circumstance shall to any extent be invalid and unenforceable, the remainder of this Declaration or the application of such term or provision to persons or circumstances other than those as to which it is invalid or unenforceable shall not be affected thereby, and each term and provision of this Declaration shall be valid and shall be enforced to the extent permitted by law. (c) Governing Law. This Declamion shall be construed and enforced in accordance with, and governed by, the law of the State of Arkansas. (d) No PrgMmrtion. This Declaration shall be interpreted and construed only by the contents hereof and there shall be no presumption or standard of construction in favor of or against any Owner. (e) Inurement, This Declaration and the easements, covenants, benefits and obligations created hereby shall inure to the benefit and be binding upon each owner, and their respective successors and assigns (f) Other Agmments. Nothing herein shall restrict an owner from imposing upon any tenant of the Property more restrictions and/or higher standards than set forth herein. (g) Subdivision and 2;an-w Notwithstanding any provision hereof to the contrary, any lawful restrictions imposed by the City of Little Rock which is more restrictive on use than the provisions hereof shall be applicable and shall supersede the provisions hereof. (h) Entire A neat. This Declaration constitutes the entire agreement regarding this subject matter between the Parties hereto. The Parties do not rely on any statement, promise or representati on not herein expressed, and this Declaration, once executed, delivered and filed, shall not be modified or altered in any respect except as provided herein. (i) No Third Foggy ies. No party, other than the Owners and Boon shall have any rights or benefits of this Declaration. 19. Xoinder of Lot I . As evidenced by the signature of the owner ofLot 1, Colonel Glenn Centre CD Addition, to the City of Little Rock, Pulaski County, Arkansas (the "Lot I Owner'), the Lot 1 Owner and Grantor acknowied a and g agree that the obligations, rights and duties of the parties under that certain CD Declaration of Restrictions and Covemints dated March 8, 2004, and filed of record as Instrument Number N 2004019665, in the records of the Circuit Clerk and Ex-0f1'icio Recorder of Pulaski County, Arkansas (the "Lot 1 Covenants' as they relate to the Lot 1 and the Benefited Property (as defined in the Lot 1 Covenants) are incorporateri herein by reference and the Lot 1 Owner joins in this Declaration and agrees to be bound by the terms and conditions thereof as they relate to the use and maintenance of the Access Drives and payment of Lot 1's Pro Share of any common maintenance expenses (including the Detention Pond). Additionally, each Owner ofthe Lots Shall be responsible for their pro Rata Share of anY payment obligation attributable to the Benefited Property due and payable under the Lot 1 Covenants. It is further aclmowledgcd and agreed b the Grantor and the Lot 1 Owner, that neither the obligations of the Lot I Owner hereunder shall exceed the Obligations of the Lot I Owner under the Lot 1 Covenants nor shall the rights of the Lot 1 Owner under the Lot I Covenants be reduced or limited by this Declaration and that this joinder is executed solely to evidence the parties' respective obligations under the Lot I Covenants. The Lot I Owner, at such owner's discretion, shall have the right to join the Owners' Association described in paragraph 8(b) above and participate therein as a Manager on the Board of Managers and as an Owner on a Pro Rata basis (calculated use the square footage of Lot 1563,666 square feet in the denominator). IN WITNESS WHEREOF, this Declaration has been executed, as of the date first above written_ Boeu Enterprises LLC By: ` /h Leonard Boer, Manager For purposes of Paragraph 19 Only. Landers Corp., in By: 8 ve Landers, dent 2t ACKNOWLEDGMENT C:D STATE OF ARKANSAS ) O ) ss, CD COUNTY OF PULASKI ) C\1 On this day, beforeme, allotary Public, duly commissiortcd, qualifled and acting, within and for said County and State, alnlseared in person the within named Leonard Boen, to me personally well known, who stated that he was the Manager of BORN ENTERPRISES LLC, an Arkansas limited liability company, and thathe was duly authorized in his capacity to execute the foregoing inst urnent for and in the name and behalf of said limited liability company, and further stated and acknowledged that he had so signers, executed and delivered said foregoing instrument for the consideration, uses and purposes therein mentioned and set forth IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this � day of '--,,, • 3 2004. N ,a,OTA y STATE OF ARKANSAS ) ss. COUNTY OF PULASKI ) Notary Public AC—KNOWLEDGMENT On this day, before toe, a Notary Public, duly commissioned, qualified and acting, r%7thin and for said County and State, appeared in person the within named Steve Landers, to rise personally well known, who stated drat he was the President of Landers Corp., Inc., an Arkansas corporation, and that he was duly authoH2,ed in his capacity to execute the foregoing instrment for and in the name and behalf of said corporation, and further stated and acknowledged that he had so signed, executed and delivered said foregoing instrument for the consideration, uses and purposes therein mentioned and set forth. IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this 14�1 day of 2004. Notary Puh is )TA 1 — io-W-12 19 -:OapS=PWM11gP9.TA) LIBRARY:LSM.2 C`') C� JOINDER AND ACKNOWLEDGMENT BY MORTGAGEE -� C:) C\1 The undersigned, Pulaski Bank & Trust, holds a mortgage in the property described in Exhibit "A" ofthis Agrewmt. The undersigned hereby joins in the execution ofthe Declaration for the following purposes only: 1. CONSENT. To grant consent to the execution of this Declaration by the owner of the property. - 2. ACKNOWLEDGMENT OF AGREFEWNT. To subordinate and subject any and all security interests it has in the properly to the provisions of this Declaration solely to the extent that, if title to the property is acquired through sale under foreclosure or by deed in lieu of foreclosure or otherwise, such title shall be subject to the charges and burdens affecting the property by virtue of this Declaration, including, but not limited to, the Access Drive Areas, Utility Basement Areas and Detention Pond descriptions therein. PULASKI BANK & TRUST: By:.k�24'yLe Date:l 20 IWMAVMPWMFIMPO.TAX_UBRARY: L%M.2 All Mu ilk of A.PdOSM E1ix of 6c i9El� of being � � I'3 fg &W& Mane! �� �! Nd tI4Ea p 13 �i'est, LAi#k yac1�, theaee Notts 87 dexarl and as: mg at Sontlteaat and of I to High,pr� , fees is do � 39 des r.�S �co>ids Neat abttg if�e � ��� � �� �Y; seeeads r Inc of 6e P-WEI12 WP : *Mee Nort4 01 dew �n� 12 87265 fett to ° ��"x l of &etL & �� 43% [irate in a Pit are tl�e �� Nw& 76 degas 02 "� i►l"ft 13 d Sg� oftmam m& t1�p a etway F.aat 138. iz #ant to aPow an ° > Naafi tip d F 43 deP'" 55 °i►r�3' 1�e viCa1ood ( im em I9 see°jkemm & 88 feet to a p*{ � the � Lute Of� X- Santh tW ot"V � Of Cbbow � K awl<t NSYI4 � Ito aSO S� Al. dgptw 09 d5 West feast cow theMf and the poW of fM 2A EXC2aw£ the SWUWbg PAR-r ()F THE- NE 1/4 OF LITRE ROM p A� �pq�H COk+l 21. `1"_N. R�13—yy BEING MORE PAFtiASKI C ARTCANSA—q OES�C ISM AS: Co'6AENCWC AT CW S2"4"511-pr11E�Sr r. 4F SAaTHE } 4 T6� tt4 SECTION 1• T �.7z'; z . act; s o1ss'�" w 37a9Z: m Im PONT Cry mm �: xK� S73-w-32-W M s•: A RAt2IlS OF W7�55E WjW SCE S75.1(Y GE FIC1= �502 4 65 . VW 724.6X TiD q . . THENCE S55UY(WE � tiros ! � O'ST► NCE T 4M - �. T . CURVIE TO 1W �r 1M �` CLYff lG 31.176 MO 02; T+ C.£ �aiit 39 TH�C 5$16�i0 il# PO,�T 'OF AND TES$ AND ZXCMT, � put artke rlFTkt of �ucxede Trans VS. I N�y� � orm, 8aW 13 po=$ai C.e pttvy, �, ataro uthe XWW cmmW Of dw W � the Went l9ae Se saw M114 a#secro� �; ikeme S.01 degrze3$ wburtm 35 rme *[ ❑',S Intersbte 4 0,-p tt mte he * i1 U4 71FI..lzii feet to a pob t qu Ric Xog ri pt of my lig! tie %Nmhg mr� S 13 � dtne 'an &'MW the East rWd of tray ttnc of said hex 51 ids W 6U72 S 6� 59 mates 32 umds W 207,9 lee4 5 29 "m�a 33 tdcaos E 2SU6 � S 1 d �Z4 s2 nr�� i#3 seo�ds W 3�4'7► +�# is t;be point of fxm� E 3GU4 � to >e lPo�mt ao4 fie u�c of n � thexce N 61 deWeft 21 mates it 9liat�il d'e'DL' m °� 6c are of ftheleft a r of 5p tie�aca $ 67." � from tle �mc which is S 71 degrees mhmks 07 � E 9,95 fee4 d-r— S 02 � wed poict; thena N77 deg 09 pvhct on 6e Marti deg[, x0 mlatttea 95 second, W S15L g [feet to a � at No"A � -Hq � � g�i woe N 87 degrees 47 4$ seca�cdr V� � 4* ice 1x a u" a et the 1� Ofway gae of U.& raaRaex N f�5 �� > a� � 7�t of way flaw of=M hkk+ay aw +Mmbx 1It�35 tact 90 the Pelt of f N 14 sz 1¢fiantea 03 ��[O�iClillf� I S q ' s a m a - x Latfi t ►igh ,. ,19, 20 and 2r' is o .i r�',.l,� .'r4 �. fay �C ii {{ • � 2004105110 � . 2 | !�! �| � � |■ �� �• \ r 2 ,|| 0 0 |�■ | 2kto |� k X . E��lC � ' Dig P an r-_ O O C=) OD O .. .. - ... ... .. ...n ._ .i.i ._ .. -. .±wry.. �e.r ..y.� ... {$ q. �--.N. r.. i•Zf:a. .y.� .. OCD 5 a K 41 s � ba rlye ! f Denotes ta6dscapr Ar4 8etyv erl � s of Curb and Sid le Fxhibit E Common Landscape Areas City of Little Rock Planning and Development Filing Fees Date: v1— l 5- 120 Annexation Board of Adjustment Cond. Use Permit/T.U.P. Final Plat Planned Unit Dev. Preliminary Plat Special Use Permit Rezoning Site Plans Street Name Change Street Name Signs Number - - at ea. Public Hearing Signs Number —at —ea. Total File No. '3r t 3b t " LocationAL Applicant • � - � e By 1�