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HomeMy WebLinkAboutS-1424-A ApplicationCity of Little -Rock Planning and Development ruing Fees Date: L6 i Its, 20� 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 Public Hearing Signs Number at _ea. Total File No. Location ea. VITy SU'lVJJVGCEDE t- $ +A-�� B3�@ 8l 0:44538 AM Filed A Recorded in Official Records of FAT U'ERIEH PULASKI COUNTY CIRCUITICUUHTY CLERK Fees $29.AB CERTIFICATION OF BILL OF ASSURANCE TO SIENNA LAKE SUBDIVISION ON DECLARATION OF COVENANTS AND RESTRICTIONS FOR SIENNA LAKE, A Cooper Community 2007020686 03115/2007 10:45:38 All Filed 8 Recorded in Official Records of PfiT U'SRIEH PULASKI COUNTY CIRCUIT/COUNTY CLERK Fees $29.00 CERTIFICATION OF BILL OF ASSURANCE TO SIENNA LAKE SUBDIVISION DECLARATION OF COVENANTS AND RESTRICTIONS FOR SIENNA LAKE, A COOPER COMMUNITY WHEREAS, at 1:30 p.m. on the 2nd day of November 2006, Cooper Land Development, Inc., an Arkansas corporation ("the Developer"), joined by the Sienna Lake Property Owners Association, Inc., an Arkansas non-profit corporation, filed in the Office of the Circuit Clerk and Ex-Officio Recorder of Pulaski County, Arkansas, a Declaration of Covenants and Restrictions for Sienna Lake, a Cooper Community, which Declaration is there recorded as Document No. 2006086366, and which Declaration was further supplemented by the recording of a Notice of Errata on November 13, 2006 as Document No. 2006088708, (collectively "the Declaration"), and WHEREAS, the Developer filed for record contemporaneously with the Declaration an accompanying original plat in the Office of the Circuit Clerk and Ex-Officio Recorder of Pulaski County, Arkansas on November 2, 2006 at Document No. 2006086366, Plat Book "H" at Page 881 ("Original Plat"), and WHEREAS, the Developer has revised the Original Plat by a Revised Final Plat to correct a scrivener's error that occurred in the Original Plat, and WHEREAS, the sole purpose of the Revised Final Plat is to correct a scrivener's error in the description of easements and set back lines that was contained in the Original Plat. NOW, THEREFORE, the Developer certifies that notwithstanding said revisions contained in the Revised Final Plat, the Declaration has not been amended or revised, and that all provisions of the Declaration remain the same, in full force and effect as to all the property reflected on the Revised Final Plat and are hereby reaffirmed by this Certification. IN WITNESS WHEREOF, the undersigned have executed this instrument under seal this 14 day of March, 2007. ,,.s►=+'!++►+,, • ATTEST: z' w : PER LAND DEVELOPMENT, INC. l dp cd3 Arkansas corporation •�y� 'fj Didf ra•�.•.r.�•r. ry � anne L. Yo �++l�„►=►►�, $Y: �. .� Randy B cker, ssistant Secretary President �`� ' �, •. ti r�r ti r rrl1r �71!l1011ll�►�►, . o 69 ATTEST: SIENNA LAKE PROPERTY OWNERS ASSOCIATION, INC. an Arkansas corporation By. n Thomas C. Q eirn, By. Secretary eff Basore, Jr., President STATE OF ARKANSAS ) COUNTY OF BENTON ss. ACKNOWLEDGMENT On this day before me, �& duly commissioned, qualified and acting within and for the said County Land State, appeared in person the within named Randy Brucker and Suzanne L. Young, to me personally well known, who stated that they were the President and Assistant Secretary of Cooper Land Development, Inc., an Arkansas corporation, and were duly authorized in their respective capacities to execute the foregoing ins behalf of said corporation, and trument for and in the name and further stated and acknowledged that they had so signed, executed and delivered 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 14th day - — SUE BARRETT 1ZY PUBLIC. ARKANSAS BENTON COUNTY _,vWSSION EXP. 04/01/201 -1 J Notary Public STATE OF ARKANSAS ) COUNTY OF BENTON ) ss. ACKNOWLEDGMENT On this day before me, &L' a Public duly commissioned, qualified and acting within and for the said Countytary and State, appeared in person the within named J. Neff Basore, Jr. and Thomas C. Oppenheim, to me personally well known, who stated that they were the President and Secretary of Sienna Lake Property Owners Association, Inc., an Arkansas not -for -profit corporation, and were duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said corporation, and further stated and acknowledged that they had so signed, executed and delivered 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 14th day of March, 2007. OFFICIAL SEAL Notary Public SUE BARRETI' NOTARY PUBLIC . ARKANSAS BENTON COUNTY MY COMMISSION EXR 04/01/201, CIVIL ENGINEERING DIVISION FINAL PLAT FILING APPROVALS FINAL PLAT NAME SIENNA LAKE SUBDIVI5iON INSPECTOR REPORT I have made a final inspection of the improvements and find that: All improvements shown on construction drawings for the development are constructed and in conformance with City requirements/standards. Certain Improvements remain uncompleted and a punch list has been prepared and ent. Engineering Specialist Date: / /LO G ADDRESSING SPECIALIST'S REPORT I have review the plat and find that the street names and street configuration are acceptable. Addressing Specialist Date: !d — 21 Dli� TRAFFIC ENGINEER REPO 9 I have reviewed the plat and find that: All streetlight installation, stripping, signage and other traffic improvements have been constructed and are in conformance with City requirements/standards. Work orders have been prepared for signage. Indicate the number of street signs ordered for this plat for billing to developer: Certain improvements remain uncompleted and a punch list has been prepared and sent. ? r(9 Traffic Engineer Date: CIVIL ENGINEER REPORT I have�wed 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. All gjher requirements for final plat approval have been satisfied. Civil Engineer I/II SURVEYOR'S REPORT I have reviewed the plat and find that: 0 11� All requirements for final plat approval have been satisfied. rz Surveyor MANAGER APPROVAL All Civil Engineering requirements for filing this final plat have been satisfied. V--� Qc� Date: Design Review Engineer/Civil Engineering Manager July 2005 Date: I I / I f C---� Date: /O ZG O 6 BILL OF ASSURANCE TO SIENNA LADE SUBDIVISION DECLARA.TION'OF COVENANTS AND RESTRICTIONS FOR SIENNA LADE, A Cooper Community TABLE OF CONTENTS INTRODUCTION............................................................................................................................ I ARTICLEI Definitions................................................................................................................2 (a) "Architectural Review Committee"..........................................................2 (b) "Articles of Incorporation"........................................................................2 (c) "Association"...............................................................................................2 (d) "Association Ezpenses"..............................................................................2 (e) "Board of Directors" or "Board"..............................................................2 (f) "Builder" or "Approved Builder".............................................................2 (g) "Bylaws" (h) ......................................................................................................2 "City"...........................................................................................................2 (i) "Common Property"..................................................................................2 (j) "Community", "Property" or "Properties".............................................3 (k) "Community -Wide Standard"...................................................................3 (1) "Contract Purchaser".................................................................................3 (m) "Contract Seller"........................................................................................3 (n) "Declarant" or "Developer".......................................................................3 (o) "Declaration"................................................................................I...............3 (P) "Development".............................................................................................3 (9) "General Assessments"...............................................................................3 (r) "Majority"....................................................................................................3 (s) "Member".....................................................................................................4 (t) "Membership"..............................................................................................4 (u) "Mortgage"...................................................................................................4 (v) "Mortgagee".................................................................................................4 (w) "Occupant"...................................................................................................4 W"Owner" ........................................................................................................4 (Y) "Person"........................................................................................................4 (z) "Residence" or "Lot"...................................................................................4 (aa) "Special Assessments"................................................................................4 (bb) "Specific Assessments"...............................................................................4 (cc) "Supplemental Declaration"......................................................................4 ARTICLEII Property Subject to this Declaration.....................................................................5 Section 1 Property Hereby Subjected to this Declaration ............................5 Section 2 Other Property.................................................................................5 Section 3 City of LittleRock............................................................................6 ARTICLE III Association Membership and Voting Rights.......................................................6 Section 1 Membership......................................................................................6 Section 2 Voting................................................................................................6 ii Section3 The Board of Directors....................................................................6 Section4 Declarant Loans...............................................................................7 ARTICLEIV Assessments............................................................................................................7 Section1 Purpose of Assessment.....................................................................7 Section2 Type of Assessments........................................................................7 Section 3 Creation of Lien and Personal Obligation for Assessment ..........8 Section4 Budget...............................................................................................8 Section5(a) General Assessments........................................................................8 Section5(b) Special Assessments........................................................................8 Section 6 Lien for Assessments........................................................................9 Section 7 Effect of Nonpayment of Assessment, Remedies of the Association........................................................................................9 Section 8 Date of Commencement of Assessments........................................10 Section 9 Specific Assessments........................................................................10 Section 10 Exempt Property ..............10 ARTICLE V Maintenance:I Conveyance of Common Property by Declarant to Association.11 Section 1 Association's Maintenance Responsibility.....................................1 I Section 2 Owner's Maintenance Responsibility............................................12 Section3 Party Walls and Party Fences.........................................................13 Section 4 Conveyance of Common Property by Declarant to Association .13 Section 5 Additional Improvements...............................................................13 Section 6 Conveyance of Common Property to Governmental Organizations...................................................................................13 Section7 Streets................................................................................................13 ARTICLE VI Protective Covenants — Establishment of ARC..................................................14 Section1 General..............................................................................................14 Section2 Amendment......................................................................................14 Section 3 Architectural Review Committee...................................................14 ARTICLEVII Prohibition of Timesharing..................................................................................15 ARTICLEVIH Insurance and Casualty Losses..........................................................................15 Section1 Insurance..........................................................................................15 Section 2 Property Insured by Association: Damage and Destruction .......16 Section 3 Property Insured by Owners: Damage and Destruction..............17 Section4 Insurance Deductible.......................................................................17 ARTICLEIX Condemnation.......................................................................................................18 iii ARTICLEX Dedication of Additional Property.......................................................................18 ARTICLEXI Mortgagee Provisions............................................................................................18 Section1 Notices of Action..............................................................................19 Section2 Special FHLMC Provision..............................................................19 Section3 No Priority........................................................................................20 Section4 Notice to Association........................................................................20 Section 5 Amendment by Board......................................................................20 Section 6 Veterans Administration Approval................................................20 Section 7 Failure of Mortgagee to Respond...................................................20 ARTICLEXII Easements............................................................................................................20 Section 1 Easements for Use and Enjoyment of Common Property ...........20 Section 2 Reserved Easements for the Provision of Services to the Development.....................................................................................22 Section3 Easement for Entry..........................................................................22 Section 4 Easement for Water Feature Maintenance...................................23 ARTICLEXIII General Provisions..............................................................................................23 Section1 Enforcement.....................................................................................23 Section2 Self-Help............................................................................................23 Section3 Duration............................................................................................23 Section4 Amendment......................................................................................24 Section5 Partition............................................................................................24 Section 6 Gender and Grammar.....................................................................25 Section7 Severability.......................................................................................25 Section8 Captions............................................................................................25 Section9 Indemnification................................................................................25 Section 10 Construction and Sale Period.........................................................25 Section11 Books and Records...........................................................................26 Section 12 Audit..................................................................................................26 Section13 Notice of Sale....................................................................................27 Section14 Estoppel Certificate.........................................................................27 Section15 Agreements.......................................................................................27 Section16 Implied Rights..................................................................................27 Section17 Deviations..........................................................................................27 Section 18 Use of Phrases "Sienna Lake" and "Sienna Lake, a Cooper Community" .................................................. Section 19 License for Use of Sienna Lake and Sienna Lake, a Cooper Community.......................................................................................27 SIGNATURES..................................................................................................................................28 iv NOTARIZATION............................................................................................................................29 SIENNA LAKE, A COOPER COMMUNITY DECLARATION OF COVENANTS AND RESTRICTIONS INTRODUCTION WHEREAS, Cooper Land Development, Inc., an Arkansas corporation, having its principal place of business at 903 North 47`h Street, Rogers, Arkansas 72756, (hereinafter referred to as the "Developer" or the "Declarant") is the owner of the real property described in Article II, Section 1 of this Declaration; and WHEREAS, Developer desires to subject the real property described in Article II, Section 1 hereof to the provisions of this Declaration to create a residential community and to provide a mechanism for subjecting other real property to the provisions of this Declaration; and WHEREAS, Developer intends that this Declaration shall impose mutually beneficial restrictions under a general plan of improvement for the benefit of all owners and subsequent owners of the subject property and that it shall establish a method for the maintenance, preservation, use and enjoyment of the property that is now or hereafter subject to this Declaration; and WHEREAS, the Developer has therefore encouraged and participated in the formation of the Sienna Lake Property Owners Association, Inc., an Arkansas non-profit corporation, with its principal offices at 903 North 47 h Street, Rogers, Arkansas 72756, (hereinafter referred to as the "Association") for the purpose of exercising the functions aforesaid; and WHEREAS, the Association joins in the execution of this Declaration for the purpose of indicating its agreement to perform the obligations placed upon it by the Declaration, as well as by any Supplemental Declaration, whether or not executed by it, hereafter placed of record which makes additional property subject hereto; NOW THEREFORE, the Developer hereby declares that the real property described in Article II, Section 1 of this Declaration, including the improvements constructed or to be constructed thereon, is hereby subjected to the provisions of this Declaration and shall be held, sold, transferred, conveyed, used, occupied, mortgaged or otherwise encumbered subject to the covenants, conditions, restrictions, easements, assessments and liens hereinafter set forth, which are for the purpose of protecting the value and desirability of, and which shall run with the title to the real property hereby or hereafter made subject hereto, and shall be binding on all persons having any right, title, or interest in all or any portion of the real property now or hereafter made subject hereto, their representative heirs, legal representatives, successors, successors -in -title, and assigns and shall inure to the benefit of each and every owner and occupant of all or any portion thereof. The filing for record of this Declaration and the accompanying Plat in the Office of the Circuit Clerk and Ex-officio Recorder of Pulaski County, Arkansas will be a valid and complete -1- delivery and dedication of the Property and Easements, subject to all noted limitations, as set forth hereinafter. ARTICLE I Definitions Unless the context shall prohibit, certain words used in this Declaration or in any Supplemental Declaration shall have the following meanings: (a) "Architectural Review Committee" or "ARC" means the committee appointed by the Board, as defined below, to approve the design, location and construction of improvements in the Community, to review landscaping plans and installation, to generally monitor and protect the standards of the Community, and to perform other duties as may be delegated by the Board. (b) "Articles of Incorporation" shall mean the Articles of Incorporation of Sienna Lake Property Owners Association, Inc., as such document may be amended. (c) "Association" shall mean and refer to the Sienna Lake Property Owners Association, Inc., a nonprofit, no stock, membership corporation incorporated under the laws of the State of Arkansas, its successors and assigns. (d) "Association Expenses" shall mean and include the actual and estimated expenses of operating the Association, including any reasonable reserve, all as may be found to be necessary and appropriate by the Board pursuant to the Declaration, the Bylaws and the Articles of Incorporation. (e) "Board of Directors" or "Board" shall mean the governing body of the Association, whether appointed or elected pursuant to this Declaration, the Articles of Incorporation and the Bylaws. The Board shall have such duties as are provided in the Declaration, the Bylaws, the Articles of Incorporation and the Arkansas Nonprofit Corporation Act. (f) "Builder" or "Approved Builder" shall refer to contractors approved in writing by the Declarant to construct "spec" or specially designed homes at Sienna Lake pursuant to written agreement with the Declarant. (g) "Bylaws" shall refer to the Bylaws of the Sienna Lake Property Owners Association, Inc., as such document may be amended from time to time. (h) "City" means the City of Little Rock, Arkansas. (i) "Common Property" shall mean any and all real and personal property easements and other interests therein, together with the facilities and improvements located thereon, now or hereafter owned by the Association for the common use and enjoyment of the -2- Owners and Occupants, whether located within or without the boundaries of the Community as defined below. 0) "Community", "Property" or "Properties" shall mean and refer to that certain real property and interests therein described in Article II below and such additions thereto as may be made by the Declarant through Supplemental Declarations as provided in Article X below. (k) "Community -Wide Standard" shall mean the standard of conduct, maintenance, or other activity generally prevailing in the Community. Such standard may be specifically determined by the Board of Directors of the Association and by committees required or permitted to be established pursuant to the Declaration and Bylaws (e.g. the Architectural Review Committee). Such determination, however, must be consistent with the Community - Wide Standard originally established by the Declarant. (1) "Contract Purchaser" shall refer to an owner who purchases a Lot using financing provided by the Developer where title to the Lot will not be conveyed until the purchase price for the Lot has been paid in full. (m) "Contract Seller" shall refer to the Developer where a Lot is sold to an owner under a "contract for deed" arrangement where title to the Lot is not conveyed to the purchaser until the purchase price has been paid in full. (n) "Declarant" or "Developer" shall mean and refer to Cooper Land Development, Inc. and its successors in title and assigns, provided however, in the instrument of conveyance to any such successor in title or assign, any such successor in title or assign must be designated as the "Declarant" hereunder at the time of such conveyance; and, provided further, upon such designation of such successor Declarant, all rights of the former Declarant in and to such status as "Declarant" hereunder shall cease. It is hereby understood that there shall be only one person or legal entity entitled to exercise the rights and powers of the "Declarant" hereunder at any one point in time, unless same is expressly provided otherwise in a writing signed by the party or parties to be charged. (o) "Declaration" shall mean this Declaration of Covenants and Restrictions for Sienna Lake, a Cooper Community, as such document may be amended from time to time. (p) "Development" shall refer to the Sienna Lake Subdivision to be known as Sienna Lake, a Cooper Community, as provided for under this Declaration. The lands embraced in this Declaration, and all succeeding Supplemental Declarations recorded in conformance herewith, shall be forever known as "Sienna Lake, a Cooper Community." (q) "General Assessments" shall mean assessments levied for Association Expenses determined by the Board to benefit all Owners and Occupants. (r) "Majority" means the receipt or presence of more than fifty percent (50%) of the total eligible number of votes cast or eligible to be cast by Owners, Designees, through proxies, or any other group or form as the context may indicate. -3- (s) "Member" shall mean a Person that is a member of the Association as provided in the Declaration and in the Articles of Incorporation and in the Bylaws of the Association. (t) "Membership" shall mean all of the right, title and interest associated with a Person being or becoming a Member of the Association. (u) "Mortgage" means any mortgage, deed of trust, and any and all other similar instruments used for the purpose of conveying or encumbering real property as security for the payment or satisfaction of an obligation. (v) "Mortgagee" shall mean the holder of a Mortgage. (w) "Occupant" shall mean any Person occupying all or any portion of a Residence or other property located within the Development for any period of time, regardless of whether such Person is a tenant of the Owner of such property. (x) "Owner" shall mean the record owner, whether one (1) or more Persons, of the fee simple title to any Lot located within the Development, including Contract Sellers, but excluding Contract Purchasers and any Person (other than the Developer) holding such interest merely as security for the performance or satisfaction of any obligation. (y) "Person" means any natural person, as well as a corporation, limited liability company, joint venture, partnership (general or limited), association, trust, or other legal entity. (z) "Residence" or "Lot" shall mean a portion of the Development designated on an approved layout plan or subdivision plat, as more particularly described below, for any type of independent use and occupancy as a residence by a single family. For example, each Lot designated on a recorded plat as limited to the building of a single family detached home shall constitute a Residence; each single family detached home constructed on a Lot shall constitute a Residence; each condominium unit in a condominium development shall constitute a Residence; each Apartment Unit in an Apartment Complex shall constitute a Residence; and each townhouse or cluster home unit in an attached or semi -attached housing structure shall constitute a Residence. The foregoing examples are set out by way of illustration only and not in limitation of the term "Residence". Residence shall include all portions of the land owned as well as any structure thereon, as described above. (aa) "Special Assessments" mean those Assessments levied by the Board on all Residences in the Community in addition to the other Assessments authorized herein. (bb) "Specific Assessments" mean those Assessments levied by the Board on less than all of the Residences in the Community or those which may be assessed among all Residences but in differing equitable amounts. (cc) "Supplemental Declaration" shall mean a document executed by the Developer subjecting additional property to this Declaration or otherwise altering, amending, or adding to the terms of this Declaration. -4- ARTICLE II Property Subject to this Declaration Section 1. Property Hereby Subjected to this Declaration. The real property which is, by the recording of this Declaration, subject to the covenants and restrictions hereinafter set forth and which, by virtue of the recording of this Declaration, shall be held, transferred, sold, conveyed, used, occupied, and mortgaged or otherwise encumbered subject to this Declaration is the real property described as follows: LEGAL DESCRIPTION A PARCEL OF LAND LYING IN THE SW 1/4 OF THE SE1/4, IN THE SE IA OF THE S W IA, IN THE NE1 /4 OF THE SW IA AND IN THE NW1/4 OF THE SE1/4 OF SECTION 29; ALL OF TOWNSHIP 1 NORTH, RANGE 13 WEST, PULASKI COUNTY, ARKANSAS; BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A 1" FOUND PIPE, AT THE SOUTHWEST CORNER OF THE SOUTHEAST 1/4 OF SAID SECTION 29, FOR A POINT OF BEGINNING; THENCE, N 88°02'27" W FOR 266.00 FEET; THENCE, N 1°06'16" E FOR 1311.17 FEET; THENCE, S 89° 15' 12" E FOR 97.89 FEET; THENCE, 305.95 FEET ALONG THE ARC OF A 579.37 FOOT RADIUS CURVE TO THE RIGHT, SAID ARC HAVING A CHORD OF N 44021'05" E FOR 302.41 FEET; THENCE, N 59°28'46" E FOR 258.76 FEET; THENCE, S 30°31'14" E FOR 60.00 FEET; THENCE, N 59028'46" E FOR 501.59 FEET; THENCE, S 48001'56" E FOR 203.49 FEET; THENCE, S 23°42'57" E FOR 486.40 FEET; THENCE, S 74°45'17" W FOR 8.50 FEET; THENCE, S 2011'01" E FOR 150.42 FEET; THENCE, S 18000'35" W FOR 50.14 FEET; THENCE, S 17021'27" W FOR 125.75 FEET; THENCE, S 85037'13" W FOR 295.34 FEET; THENCE, S 68019'58" W FOR 46.32 FEET; THENCE, S 44047'28" W FOR 130.63 FEET; THENCE, S 34019'33" W FOR 51.36 FEET; THENCE, S 48049'36" W FOR 129.94 FEET; THENCE, S 29°02'47" E FOR 180.80 FEET; THENCE, S 30020'00" E FOR 439.12 FEET; THENCE, S 3027'02" W FOR 198.05 FEET; THENCE, N 88°00'47" W FOR 787.39 FEET TO THE POINT OF BEGINNING, CONTAINING 40.482 ACRES, MORE OR LESS. Section 2. Other Property. Only the real property described in Section 1 of this Article II is hereby made subject to this Declaration; provided, however, that the Declarant has the right, -5- but not the obligation, to subject additional real property to this Declaration, as hereinafter provided in Article X, via execution and recording of one or more Supplemental Declarations. Section 3. City of Little Rock. The property subject to this Declaration lies within the corporate limits of the City of Little Rock, Pulaski County, Arkansas and is therefore subject to the codes, ordinances, regulations and other rules of the City. In the event of any conflict between the codes, ordinances, regulations and rules of the City and the provisions of this Declaration and its protective covenants, the codes, ordinances, regulations and rules of the City shall take precedence. Provided, however, this shall not preclude this Declaration, the attached protective covenants and/or the rules and regulations of the Association from containing provisions or requirements that are more stringent than those adopted by the City. The Board and the ARC are hereby expressly authorized to enforce all such more restrictive provisions in lieu of enforcement by the City of its less stringent provisions. ARTICLE III Association Membership and Voting Rights Section 1. Membership. Every Owner shall be deemed to have a Membership in the Association. Membership shall be appurtenant to and may not be separated from ownership. Section 2. Voting. Voting by Members shall be in accordance with "Article V, Voting Rights" of the Bylaws of the Association. Any Owner of a Residence not occupied by the Owner may, in a lease or other written instrument, assign the Owner's voting rights appurtenant to that Residence to the Occupant, provided that a copy of such instrument is furnished to the Secretary within the time prescribed by the Secretary of the Association. In the event of such assignment, the Occupant may vote the Owner's vote on all issues upon which the Owner would be entitled to vote. An Owner's right to vote may be suspended as provided in Article XII, Section 1 of this Declaration. An Owner may notify the Association in writing of any individual the Owner wishes to designate as his/her/their representative for all matters (but not less than all) involving possession and use of a Lot or Residence and voting rights under this Declaration (the "Designee"). Once a written notice of Designee is on file with the Association, all notification requirements, enforcement duties and voting rights granted under this Declaration shall be transferred to the Designee until Association receives in writing a revocation of said designation signed by the Owner. An Owner may not partition the rights granted to a Designee amongst multiple Designees, nor may an Owner reserve any of the rights delegated to a Designee under this Section. Section 3. The Board of Directors. The management of the affairs of the Association shall be vested in the Board of Directors. A Director need not be a Member of the Association. The Board of Directors shall be organized by and have the powers and duties as set forth in the Bylaws of the Association and in this Declaration. The Declarant shall have the exclusive authority to appoint the members of the Board of Directors until such time as the Declarant relinquishes this right pursuant to the terms of this Declaration. Thereafter, the Board of Directors shall be elected by the Members in accordance with the Bylaws. Section 4. Declarant Loans. From time to time, particularly in the early stages of the Development, the Association may borrow funds from the Declarant to pay for capital, operational, improvement and other expenses of the Association. Any loans made by Declarant to the Association shall be made subject to the then current terms, conditions, interest rates and repayment requirements that are generally acceptable for transactions amongst cooperating entities in the specialized field of creating subdivisions. ARTICLE IV Assessments Section 1. Purpose of Assessment. The assessments provided for herein shall be used for the general purposes of promoting recreation, health, safety, welfare, common benefits, and enjoyment of the Owners and Occupants in the Development, including the construction, leasing, improvement and maintenance of real and personal property, services and facilities, payment of taxes and insurance on the Common Properties, and those other purposes as may be more specifically authorized from time to time by the Board of Directors. The Board of Directors has the authority to include the costs for procuring utility services and for installing utility equipment, facilities and infrastructure (identified in Article XII, Section 2 below) in the budget and to levy assessments to defray these costs. Additional lands added under Article X below may require greater or lesser expenditures for construction, maintenance, repair, replacement or administration. Therefore, the Supplemental Declaration with respect to the additional property shall specify the amount of the assessments required from the Owners of such additional lands. Section 2. Type of Assessments. Each Owner of any Residence, and the Owner's successor in interest where applicable, by acceptance of a deed thereto, whether or not such obligations shall be so expressed in such deed, covenants and agrees to pay to the Association: (a) General Assessments to be levied for Association Expenses determined by the Board to benefit all Owners and Occupants and allocated among all Residences in the Development; (b) Special Assessments, such assessments to be established and collected as hereinafter provided in Article IV, Section 5; and (c) Specific Assessments against any particular Residence which are established according to the terms of this Declaration, including, but not limited to, those assessments established in Article IV, Section 9, and Article V, Section 3, hereof and reasonable fines as may be imposed in accordance with the terms of this Declaration and Bylaws. -7- Section 3. Creation of Lien and Personal Obligation for Assessment. All assessments, together with late charges determined by the Board, interest at a rate equal to the lesser of ten percent (10%) or the maximum lawful rate, costs, and reasonable attorney's fees actually incurred shall be a charge on the land and shall be a continuing lien upon the Residence against which each assessment is made. Each such assessment, together with late charges, interest, costs, and reasonable attorney's fees actually incurred, shall also be the personal obligation of the Person who was the Owner of a Residence at the time of assessment, and his or her grantee shall be jointly and severally liable for such portion thereof as may be due and payable at the time of conveyance; provided, however, the liability of a grantee for the unpaid assessments of its grantor shall not apply to any first Mortgage holder taking title through foreclosure proceedings or deed in lieu of foreclosure. General Assessments and other assessments, unless otherwise provided by the Board, shall be paid in annual, semi-annual, quarterly, or monthly installments as the Board determines. Section 4. Budget. It shall be the duty of the Board to prepare a budget covering the estimated costs of operating the Association during the coming year, which may include a capital contribution or reserve. The Board shall cause the budget and the assessments to be levied against each Residence for the following year to be delivered to each Owner at least thirty (30) days prior to the end of the current fiscal year. The Board may not, without both the written consent of Declarant (so long as Declarant has an option unilaterally to subject additional property to this Declaration as provided in Article X hereof) and the vote or written assent of at least a Majority of the total Association Membership entitled to vote thereon, impose a General Assessment per Residence which is more than one hundred twenty percent (120%) of the General Assessment for the preceding fiscal year. In the event the Board fails for any reason to provide a new budget for the succeeding year, then, and until such time as a budget shall have been determined, as provided herein, the budget in effect for the current year shall continue for the succeeding year. Section 5(a). General Assessments. General Assessments shall be levied for Association Expenses determined by the Board to benefit all Owners and Occupants. General Assessments shall be allocated among all Residences in the Development obligated to pay same under this Declaration. The Board may adjust the General Assessment only as provided in Article IV, Section 4, above. Section 5(b). Special Assessments. In addition to the other assessments authorized herein, the Board may levy Special Assessments in any year. However, no Special Assessment may be levied against a particular Residence if in doing so the total amount of Special Assessments levied against that particular Residence in the then current fiscal year, including the Special Assessment then being considered by the Board, would exceed the total amount of the then current General Assessment in place for said Residence. Any Special Assessment that would cause the amount of Special Assessments allocable to any Residence to exceed this limitation shall be effective only if approved by a Majority vote of the total Association Membership entitled to vote thereon and, so long as the Declarant has an option unilaterally to subject additional property to this Declaration as provided in Article X hereof, the consent of -8- Declarant. Special Assessments shall be paid as determined by the Board, and the Board may permit Special Assessments to be paid in installments extending beyond the fiscal year in which the Special Assessment is imposed. Section 6. Lien for Assessments. All sums assessed against property subject to this Declaration pursuant to this Declaration, together with late charges, interest, costs, and reasonable attorney's fees actually incurred, as provided herein, shall be secured by a lien on such property in favor of the Association. Such lien shall be superior to all other liens and encumbrances on such property, except for (a) liens of ad valorem taxes assessed and recorded prior to Assessment Liens; and (b) liens for all sums unpaid on a first Mortgage. All other Persons acquiring liens or encumbrances on any property subject to this Declaration after this Declaration shall have been recorded in the records of the Office of the Circuit Clerk, Pulaski County, Arkansas shall be deemed to consent that such liens or encumbrances shall be inferior to future liens for assessments, as provided herein, whether or not prior consent is specifically set forth in the instruments creating such liens or encumbrances. Section 7. Effect of Nonpayment of Assessment, Remedies of the Association. Any assessments which are not paid in full by the date specified by the Board ("due date") shall be considered delinquent. Any delinquent assessment shall incur a one time late charge of twenty- five dollars ($25.00), or such other amount as the Board may from time to time determine. If the assessment is not paid when due, a lien, as herein provided, shall attach and, in addition, the lien shall include the late charge, interest on the principal amount due, and all costs of collection, including reasonable attorney's fees actually incurred whether by in-house or outside counsel, and any other amounts provided or permitted by law. In the event that the assessment remains unpaid after ninety (90) days, the Association may, as the Board shall determine, institute suit to collect such amounts and to foreclose its lien. Each Owner, by acceptance of a deed or as a party to any other type of a conveyance, vests in the Association and its agents the right and power to bring all actions against him or her, personally, for the collection of such charges as a debt or to foreclose the aforesaid lien in the same manner as other liens for the improvement of real property. The lien provided for in this Article shall be in favor of the Association and shall be for the benefit of all other Owners. The Association, acting through the Board and on behalf of the Owners, shall have the power to bid at any foreclosure sale or to acquire, hold, lease, mortgage, or convey foreclosed property. No Owner may waive or otherwise exempt himself from liability for the assessments provided for herein, including, by way of illustration, but not limitation, by non-use of Common Property, abandonment of the Residence or by appointment of a Designee. No diminution or abatement of assessment or set-off shall be claimed or allowed by reason of any alleged failure of the Association or Board to take some action or perform some function required to be taken or performed by the Association or Board under this Declaration or the By -Laws, or for inconvenience or discomfort arising from the making of repairs or improvements which are the responsibility of the Association, or from any action taken to comply with any law, ordinance, or with any order or directive of any municipal or other government authority, the obligation to pay assessments being a separate and independent covenant on the part of the Owner. All payments shall be applied first to costs and attorney's fees, then to any late charges, then to interest and then to delinquent principal. Section 8. Date of Commencement of Assessments. A Residence shall become subject to assessment hereunder on the first day of the month following the month of conveyance by Declarant to Owner. The first General Assessment shall be prorated according to the number of months remaining in the fiscal year during which the Residence became subject to assessment. Section 9. Specific Assessments. The Board shall have the power to specifically assess pursuant to this Section as, in its discretion, it shall deem appropriate. Failure of the Board to exercise its authority under this Section shall not be grounds for any action against the Association or the Board and shall not constitute a waiver of the Board's right to exercise its authority under this Section in the future with respect to any expenses, including an expense for which the Board has not previously exercised its authority under this section. The Board may specifically assess Residences for the following expenses: (a) Expenses of the Association which benefit less than all of the Residences may be specifically assessed equitably among all the Residences which are benefited according to the benefit received. (b) Expenses of the Association which benefit all Residences, but which do not provide an equal benefit to all Residences, may be specifically assessed equitably among all Residences according to the benefit received. Section 10. Exempt Property. The following property shall be exempt from General, Special and Specific Assessments: (a) All property dedicated to and accepted by any government authority or public utility, including, without limitation, public schools, public streets, public parks, retention areas, rights -of -way, streets and easements; (b) All property owned by non-profit organizations and restricted for use as schools or churches; provided, however, the availability of the exemption for such non-profit organizations is contingent upon prior approval of the Board; (c) Lots sold by Declarant to an approved Builder for later re -sale to the general public after construction by the Builder of a home on said Lot pursuant to a written agreement between the Builder and Declarant shall be exempt for a period of one hundred eighty (180) days after close of escrow ("the Grace Period"), at which time Assessments shall commence on the first day of the month following the Grace Period for any such Lots sold to Builders; and (d) All property owned by the Declarant prior to sale to conveyance as addressed in Article IV, Section 8 above; -10- (e) All property owned by the Association, whether designated as Common Property or otherwise. Notwithstanding the foregoing, easements on Lots in general shall not relieve Owners of their obligation to pay the full General, Special, or Specific Assessment in place for all Lots and no reduction or discount is allowed for any easement in proportion to the total Lot area; ARTICLE V Maintenance: Conveyance of Common Property By Declarant to Association Section 1. Association's Maintenance Responsibility. The Association shall maintain and keep in good repair the Common Property. This maintenance shall include, without limitation, maintenance, repair, and replacement, subject to any insurance then in effect, of all landscaping and improvements situated on the Common Property. In addition, if the following property exists in the Development, the Association may, as determined by the Board, maintain part or all of such property, regardless of whether it is Common Property: community hiking and biking trails; grass and other landscaping along dedicated rights -of -way; wet and dry retention areas; community entrance features including signage; and ponds and dams. Any Residence built on a Lot at The Development must have installed on or in it a Grinder Pump that is intended to be an integral part of the low pressure sewer system. An Owner purchasing a Lot at The Development will acquire all right, title and interest to that portion of the low pressure sewer system found on that Owner's Lot, including the Grinder Pump once installed. The Association will be responsible for installation and maintenance of the low pressure sewer system, including that portion of the system from and including the pump tank to the public sewer main in the street installed on individual lots within the Development. Costs incurred for future maintenance of the system shall be billed to each Owner of the low pressure sewer system receiving that benefit under Article IV, Section 10 of this Declaration. The Association and its designated agents shall have a continuous easement of ingress and egress on each Lot for the purpose of providing the maintenance required by this Section 1. Owners and Builders are not permitted to install Grinder Pump systems on their own. The foregoing maintenance costs shall be assessed as a part of the General Assessment or Specific Assessments, as determined by the Board in accordance with this Declaration and shall be performed consistent with the Community -Wide Standard. For all Lots purchased directly from the Developer where a Residence is constructed by the original purchaser, Developer will pay for all costs associated with the initial installation of the low pressure sewer system, including the Grinder Pump itself. In the event the original purchaser of the Lot from the Developer sells or otherwise transfers or conveys title to the Lot to a subsequent Owner for value without constructing a Residence and prior to installation of the low pressure sewer system and Grinder Pump by the Developer, then the subsequent Owner shall be responsible for all costs associated with installation of the low pressure sewer system for that -11- Lot, including, but not limited to, the cost of the pump, tank, accessories, and all associated labor for installation. The Association shall also have the right, but not the obligation, to maintain and provide services for other property not owned by the Association, whether located within or without the boundaries of the Development, and to enter into leases, easements, covenants and cost -sharing agreements regarding such property (and any other property) where the Board has determined that doing so would benefit Owners. The cost of maintenance, capital improvements, operations, taxes and all other expenses incidental to all Common Properties, and any other properties treated by the Board as de -facto Common Properties, shall be the obligation of the Association and shall be paid for from assessments as herein provided. The Board is empowered to supplement payment of these costs by the assessment of use fees as may be appropriate. Section 2. Owner's Maintenance Responsibility. Each Owner shall maintain or cause to be maintained in a safe, clean and attractive condition all property subject to this Declaration which is owned directly or indirectly by such Owner in a manner consistent with the Community -Wide Standard and this Declaration, other than Common and Limited Common Property, the maintenance of which is the responsibility of the Association. Such maintenance obligation shall include, without limitation, the following: prompt removal of all litter, trash, refuse, and waste; lawn mowing on a regular basis; tree and shrub pruning; watering landscaped areas; keeping improvements, exterior lighting, and maintenance facilities in good repair and working order; keeping lawn and garden areas seasonally alive, free of weeds, and attractive; keeping driveways in good repair; complying with all environmental health and policy requirements; and repair of exterior damage to improvements. In the event that the Board determines that (a) any Owner, his or her family, guest, lessee, tenant, invitee, or designee of the Owner, as Designee is defined above, has failed or refused to discharge properly such Owner's obligations with regard to the maintenance, repair or replacement of items for which such Owner is responsible hereunder; or (b) that the need for maintenance, repair, or replacement, which is the responsibility of the Association hereunder, is caused through the willful or negligent act of an Owner, his or her family, guests, lessees, tenants, invitees, or designees, the Association may perform the repair, replacement or maintenance. Except in the event of any emergency situation, the Association shall give the Owner or Designee written notice of the Association's intent to provide such necessary maintenance, repair, or replacement. The notice shall set forth with reasonable particularity the tiiaintetiance, repairs, or replacement deemed necessary. Except in the case of emergency, the Owner or his designee shall have ten (10) business days within which to complete such maintenance, repair, or replacement, or, in the event that such maintenance, repair, or replacement is not capable of completion within said ten (10) day period, to commence such work which shall be completed within a reasonable time. If the Owner does not perform the work or commence the work as required herein, the Association may then do so. If the Association provides any such maintenance, repair, or replacement, it shall be at Owner's sole cost and expense, and all costs shall be treated as a Specific Assessment against the Owner and the Residence owned by the Owner. -12- Section 3. Party Walls and Party Fences. Each wall or fence built as a part of the original construction of the Residences which shall serve and separate any two (2) adjoining Residences shall constitute a parry wall or fence and, to the extent not inconsistent with the provisions of this Section, the general rules of law regarding party walls and liability for property damage due to negligence or willful acts or omissions shall apply thereto. The cost of reasonable repair and maintenance of the parry wall or fence shall be shared by the Owners who make use of the wall or fence in equal proportions. In the event of any dispute arising concerning a party wall or fence, or under the provisions of this Section, each party shall appoint one (1) arbitrator. Should any parry refuse to appoint an arbitrator within ten (10) days after written request for same by the Board, the Board shall appoint an arbitrator for the refusing party. The arbitrators thus appointed shall appoint one (1) additional arbitrator and the decision by a Majority of all three (3) arbitrators shall be binding upon the parties and may be confirmed thereafter by the prevailing party in a court of competent jurisdiction. Section 4. Conveyance of Common Property by Declarant to Association. The Declarant may transfer or convey to the Association any personal property and any improved or unimproved real property, leasehold, easement, license or other property interest which is or may be subjected to the terms of this Declaration. Such conveyance shall be accepted by the Association, and the property shall thereafter be Common Property to be maintained by the Association. Declarant shall have the right, without limitation, to include ponds, lakes and dams existing or constructed on the Property that may be conveyed by Declarant and which shall be accepted by the Association. Section 5. Additional Improvements. Declarant shall not be required to make any improvements whatsoever to property to be conveyed and accepted pursuant to this Article V that Declarant is not otherwise obligated to improve by separate agreement, including, without limitation, dredging or otherwise removing silt from any lake or pond that may be conveyed. Section 6. Conveyance of Common Property to Governmental Organizations. Certain portions of the Property, such as dry retention areas to facilitate drainage of the Property, may be conveyed to municipal or other governmental organizations. In this event, the Owners shall have access and the right to use these properties as with the Common Properties. The Association shall maintain these properties and regulate the use thereof as with the Common Properties. Section 7. Streets. All streets, alleys, curbs and gutters will be constructed by Declarant to the City's standards and shall be dedicated as public streets. The Declarant will be the sole judge as to the timing of construction of the streets. -13- ARTICLE VI Protective Covenants — Establishment of ARC Section 1. General. Attached hereto as Exhibit "1" and incorporated herein by this reference are the Protective Covenants pertaining to the Development. Section 2. Amendment. The Protective Covenants may be amended by the Declarant, its successors and assigns from time to time and may also be amended by a majority vote of the members of the Board of Directors of the Association. Section 3. Architectural Review Committee. Except as to original construction by the Developer, no building, fence, wall or other structure shall be commenced, erected or maintained within The Development, nor shall any exterior addition, change or alteration be made thereto, until and unless the plans and specifications showing the nature, kind, shape, height, materials and location of same shall have been submitted to and approved in writing by the ARC as to harmony of external design, location in relation to surrounding structures and topography and compliance with this Declaration, the Protective Covenants attached hereto as Exhibit "l ", and the ARC rules, regulations, standards and guidelines as they may be adopted and amended from time to time by the Board. The ARC shall make such determination by majority vote, and the deterarnination of the individual committee members shall be in the exercise of the sole and absolute discretion of each member. The ARC shall be composed of three (3) or more representatives appointed by the Board, and the Association shall have authority and standing to enforce decisions of the ARC. In the event the ARC fails to approve or disapprove the design and/or location suggested by a particular application within thirty (30) days of submittal to the ARC for review pursuant to its guidelines, rules and regulations, approval will be deemed to have been granted for said application without changes, except to the extent that said application in anyway deviates from or is in violation of any of the Protective Covenants. The ARC shall have the right, within its absolute discretion, to set reasonable charges and fees necessary to offset expenses incurred by it in connection with the performance of duties hereunder, and failure to pay same shall be grounds for withholding approval hereunder. The ARC, through its members or duly authorized agents or employees, shall have the right, after reasonable notice to an Owner, to enter upon any Lot or Residence at all reasonable hours for the purpose of performing its duties and responsibilities as provided for herein. Notwithstanding the foregoing, the rules, regulations, standards, procedures, charges and fees created and enforced by the Board and/or the ARC shall not apply to original construction of the Developer or the Association. If for any reason original construction by the Developer and/or the Association requires approval by the Board, the ARC, or any other sub -committee or body, same shall be given provided that the proposed construction meets all applicable standards of construction established by the City of Little Rock and/or the State of Arkansas. -14- ARTICLE VII Prohibition of Timesharing Timesharing is prohibited in the Development. The term "timesharing" shall include, without limitation, timeshare estate, timeshare use, timeshare interval programs, "shared ownership" programs where ownership is sold by the week or other interval of time, timeshare license, points, fractional use and any hybrid form of interval ownership, as well as all vacation exchange programs. Notwithstanding the foregoing, Owners shall have the right to rent or lease Residences constructed in the Development provided that all rentals be pursuant to written lease and for terms of no less than six (6) months. Any alleged ownership scheme, plan or marketing program that involves the sale of undivided or divided interests in a Residence or in any entity owning or intended to own any ownership interest in a Residence or Lot to multiple parties for "shared" ownership, whether or not registered or regulated as such with the State of Arkansas, shall be considered a timeshare under the terms of this Declaration and is therefore prohibited. ARTICLE VIII Insurance and Casualty Losses Section 1. Insurance. The Board of Directors or its duly assigned agent shall have the authority to and shall obtain insurance for all insurable improvements on the Common Property. The Board shall obtain a public liability policy applicable to all Common Property insuring the Association and its Members for all damage or injury caused by the negligence of the Association or any of its Members or agents. The public liability policy shall have a single limit of One Million ($1,000,000) dollars or a greater amount if directed by Declarant during the time specified in Article X. If available at reasonable cost, as determined in the sole discretion of the Board, the Board shall also obtain Director's and Officers' liability insurance. All such insurance coverage obtained by the Board of Directors shall be written in the name of the Association, as trustee, for the respective benefited parties, as further identified in subparagraph (b) below. Such insurance shall be governed by the provisions hereinafter set forth: (a) All policies shall be written with a company licensed to do business in Arkansas and holding a rating of `B" or better as established by A.M. Best Company, Inc., if available, or, if not available, the nearest equivalent rating. (b) Exclusive authority to adjust losses under policies obtained by the Association shall be vested in the Board of Directors; provided, however, no Mortgagee having an interest in such losses may be prohibited from participating in the settlement negotiations, if any, related thereto. -15- (c) In no event shall the insurance coverage obtained and maintained by the Board hereunder be brought into contribution with insurance purchased by the individual Owners, Occupants, or their Mortgagees, and the insurance carried by the Association shall be primary. (d) All insurance policies shall be reviewed annually by one or more qualified persons. (e) The Board shall be required to make every reasonable effort to secure insurance policies that will provide for the following. (1) A waiver of subrogation by the insurer as to any claims against the Board, its officers, directors and manager, the Owners, the Declarant, its officers and directors, and their representative tenants, servants, agents, and guests; (2) A waiver by the insurer of its rights to repair and reconstruct instead of paying cash; (3) That no policy may be canceled, invalidated, or suspended on account of any one or more individual Owners; (4) That no policy may be canceled, invalidated, or suspended on account of any defect or the conduct of any officer, director, or employee of the Association or its duly assigned manager without prior demand in writing delivered to the Association to cure the defect or to cease the conduct and the allowance of a reasonable time thereafter within which a cure may be effected by the Association, its manager, any Owner or Mortgagee; (5) That any "other insurance" clause in any policy excludes individual Owners' policies from consideration; and (6) That no policy may be canceled or substantially modified without at least thirty (30) days prior written notice to the Association. Section 2. Property Insured by Association: Damage and Destruction. Immediately after the damage or destruction by fire or other casualty to all or any portion of any improvement covered by insurance written in the name of the Association, the Board or its duly authorized agent shall proceed with the filing and adjustment of all claims arising under such insurance and obtain reliable and detailed estimates of the cost of repair or reconstruction of the damaged or destroyed property. Repair, or reconstruction, as used in this paragraph, means repairing or restoring the property to substantially the same condition and location that existed before the fire or other casualty. Any damage or destruction shall be repaired or reconstructed unless, within sixty (60) days after the casualty, at least sixty-six percent (66%) of the total Members entitled to vote thereon, and, so long as the Declarant has an option unilaterally to subject additional property to this Declaration as provided in Article X hereof, the Declarant, otherwise agree. If for any -16- reason either the amount of the insurance proceeds to be paid as a result of such damage or destruction, or reliable and detailed estimates of the cost of repair or reconstruction, or both, are not made available to the Association within such period, then the period shall be extended until such information shall be made available; provided, however such extension shall not exceed one hundred and twenty (120) days. No Mortgagee shall have the right to participate in the determination of whether damage or destruction shall be repaired or reconstructed. If the damage or destruction for which insurance proceeds are paid is used to repair or reconstruct and such proceeds are not sufficient to defray the costs thereof, the Board may, without the necessity of a vote of the Members, levy a Special Assessment against all Owners for the difference needed to finish repair or reconstruction. Additional assessments may be made in like manner at any time during or following the completion of any repair or reconstruction. If the funds available from insurance exceed the costs of repair or reconstruction or if the improvements are not repaired or reconstructed, such excess shall be deposited to the benefit of the Association. In the event that it should be determined by the Association in the manner described above that the damages or destruction shall not be repaired or reconstructed and no alternative improvements are authorized, then, and in that event, the property shall be restored to its natural state and maintained as an undeveloped portion of the Development in a neat and attractive condition. Section 3. Property Insured by Owners: Damage and Destruction. By virtue of taking title to property within the Development, each Owner covenants and agrees with all other Owners and with the Association that in the event that the Association does not carry insurance on the Owner's property, each individual Owner shall carry liability and casualty insurance or cause such insurance to be carried by the Occupant of said property. Each individual Owner further agrees that in the event of a partial loss of damage and destruction resulting in less than total destruction, the individual Owner shall proceed promptly to repair or reconstruct the damaged structure in a manner consistent with the original construction. In the event that the structure is totally destroyed and the individual Owner dctemihies not to rebuild or reconstruct, the Owner shall clear the Residence of all debris and return it to substantially the natural state in which it existed prior to the beginning of construction. Section 4. Insurance Deductible. The deductible for any casualty insurance policy carried by the Association shall, in the event of damage or destruction, be allocated among the Persons who are responsible }iereunder, or under any declaration of contract requiring the Association to obtain such insurance, for maintenance of the damaged or destroyed property. -17- ARTICLE IX Condemnation Whenever all or part of the Common Property shall be taken by any authority having the power of condemnation or eminent domain, or where all or part of the Common Property has been conveyed to any government authority by the Board, acting on its own initiative or on the written direction of at least two-thirds (2/3) of all Owners, the Association shall represent the Owners. The award made for such taking shall be payable to the Association as trustee for all Owners. The provisions of Article VIII, Section 2, above, applicable to damage or destruction to improvements located on Common Property shall govern replacement or restoration and any action to be taken in the event that the improvements are not restored or replaced. ARTICLE X Dedication of Additional Property As the Owner thereof or, if not the Owner, with the consent of the Owner thereof, Declarant shall have the unilateral right, privilege, and option from time to time at any time to subject additional property to this Declaration. Any additions may or may not be a subdivision; however, they shall be compatible with the Development and be consistent with the plan of this Declaration. The additions authorized hereunder shall be made by filing of record a Supplemental Declaration with respect to the additional property which shall specify the amount of the Annual General Assessment for the additional property, if any, and extend this Declaration to such property, and the Owners in such additions shall immediately be entitled to all privileges therein and herein contained. Such Supplemental Declarations, if any, may contain such complementary additions and modifications of the covenants, conditions and restrictions contained in this Declaration (including provisions for different levels of General Assessments) as may be necessary to reflect the different character, if any, of the added properties. In no event, however, shall such Supplemental Declarations revoke, modify or add to the covenants, conditions and restrictions established by this Declaration or any other Supplemental Declaration with respect to the then existing properties in the Development subsequent to the sale of the first Lot to a third party. The rights reserved unto the Declarant to subject additional land to the Declaration shall not, and shall not be implied or construed so as to, impose any obligation upon Declarant to subject any such additional land to this Declaration. ARTICLE XI Mortgagee Provisions The following provisions are for the benefit of holders of first Mortgages on Residences in the Development. The provisions of this Article apply to both this Declaration and the Bylaws notwithstanding any other provisions contained therein. -18- Section 1. Notices of Action. An institutional holder, insurer, or guarantor of a first Mortgage, who provides written request to the Association (such request to state the name and address of such holder, insurer, guarantor and the Residence number, therefore becoming an "eligible holder"), will be entitled to timely written notice of: (a) Any condemnation loss or any casualty loss which affects a material portion of the Development, or which affects any Residence on which there is a first Mortgage held, insured, or guaranteed by such eligible holder; (b) Any delinquency in the payment of assessments or charges owed by an Owner of a Residence subject to the Mortgage of such eligible holder, where such delinquency has continued for a period of sixty (60) days; provided, however, notwithstanding this provision, any holder of a first Mortgage, upon written request, is entitled to written notice from the Association of any default in the performance by an Owner of a Residence of any obligation under the Declaration or By -Laws of the Association which is not cured within sixty (60) days; (c) Any lapse, cancellation, or material modification of any insurance policy maintained by the Association; or (d) Any proposed action which would require the consent of a specified percentage of eligible holders. Section 2. Special FHLMC Provision. So long as required by the Federal Home Loan Mortgage Corporation, the following provisions apply in addition to and not in lieu of the foregoing. Unless at least two-thirds (2/3) of the first Mortgagees or at least two-thirds (2/3) of the total Members entitled to vote thereon consent, the Association shall not: (a) By act or omission seek to abandon, partition, subdivide, encumber, sell or transfer the Common Property which the Association owns, directly or indirectly (the granting of easements for public utilities or other similar purposes consistent with the intended use of the Common Property shall not be deemed a transfer within the meaning of this subsection); (b) Change the method of determining the obligations, assessments, dues, or other charges which may be levied against an Owner (a decision, including contracts, by the Board or provisions of any Supplemental Declaration regarding assessments for additional property shall not be subject to this provision where such decision or Supplementary Declaration is otherwise authorized by this Declaration.); (c) By act or omission change, waive, or abandon any scheme of regulations or enforcement thereof pertaining to the architectural design or the exterior appearance and maintenance of Residences and of the Common Property (The issuance and amendment of architectural standards, procedures, rules and regulations, or use restrictions shall not constitute a change, waiver, or abandonment within the meaning of this provision.); (d) Fail to maintain insurance, as required by this Declaration; or -19- (e) Use hazard insurance proceeds for any Common Property losses for other than the repair, replacement or reconstruction of such property. First Mortgagees may, jointly or singly, pay taxes or other charges which are in default and which may or have become a charge against the Common Property and may pay overdue premiums on casualty insurance policies or secure new casualty insurance coverage upon the lapse of an Association policy, and first Mortgagees making such payments shall be entitled to immediate reimbursement from the Association. Section 3. No Priority. No provision of this Declaration or the By -Laws gives or shall be construed as giving any Owner or other party priority over any rights of the first Mortgagee of any Residence in the case of distribution to such Owner of insurance proceeds or condemnation awards for losses to or a taking of the Common Property. Section 4. Notice to Association. Upon request, each Owner shall be obligated to furnish to the Association the name and address of the holder of any Mortgage encumbering such Owner's Residence. Section 5. Amendment by Board. Should the Veterans Administration, the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corporation subsequently delete any of their respective requirements which necessitate the provisions of this Article or make any such requirements less stringent, the Board, without approval of the Owners, may cause an amendment to this Article to be recorded to reflect any such change. Section 6. Veterans Administration Approval. As long as the Declarant has an option unilaterally to subject property to this Declaration as provided in Article X, and so long as the Veterans Administration is guaranteeing any Mortgage in the Development, the following actions shall require the prior approval of the Veterans Administration: annexation of additional property to the Development, except for annexation by Declarant in accordance with Article X, Section 1 hereof pursuant to a plan of annexation previously approved by the Veterans Administration; dedication of Common Property to any public entity; and material amendment of the Declaration, By -Laws or Arkansas law for any of the acts set out in this Article. Section 7. Failure of Mortgagee to Respond. Any Mortgagee (or insurer or guarantor of a Mortgage) who receives a written request from the Board to respond to or consent to any action shall be deemed to have approved such action if the Association does not receive a written response from the Mortgagee within thirty (30) days of the date of the Association's request. ARTICLE XH Easements Section 1. Easements for Use and Enjoyment of Common Property. Every Member shall have a right and easement of ingress and egress, use and enjoyment in and to the Common -20- Property which shall be appurtenant to and shall pass with the title to his property, subject to the following provisions: (a) The right of the Board to charge reasonable admission and other fees for the use of any portion of the Common Property, including, without limitation, swimming pools, golf courses and lake access; to limit the number of guests who may use the Common Property on a regular or temporary basis; to charge or not charge a user fee for guest usage; and to provide for the exclusive use and enjoyment of specific portions thereof at certain designated times by an Owner, his family, tenants, guests, Occupants, and invitees; (b) The right of the Board to suspend any or all of the following: the voting rights of an Owner, Occupant or Designee; the right of an Owner or Occupant to use the Common Property recreational facilities in the Development, if any, for any period during which any assessment which is hereby provided for remains unpaid; and the right of an Owner or Occupant to use the Common Property recreational facilities in the Development, if any, for a reasonable period of time for an infraction of the Declaration, Bylaws, use restrictions, rules and regulations or Community -Wide Standards; (c) The right of the Board to borrow money for the purpose of improving the Common Property, or any portion thereof, or for construction, repairing or improving any facilities located or to be located thereon, and give as security for the payment of any such loan a Mortgage conveying all or any portion of the Common Property; provided, however, the lien and encumbrance of any such Mortgage given shall be subject and subordinate to any rights, interests, options, easements and privileges herein reserved or established for the benefit of Declarant, or any Residence or Owner, or the holder of any Mortgage, irrespective of when executed, given by Declarant or any Owner encumbering any Residence or other property located within the Development (any provision in this Declaration or in any such Mortgage given by the Board to the contrary notwithstanding); the exercise of any rights therein by the holder thereof in the event of a default there under shall not cancel or terminate any rights, easements or privileges herein reserved or established for the benefit of Declarant, or any Residence or Owner, or the holder of any Mortgage, irrespective of when executed, given by Declarant or any Owner encumbering any Residence or other property located within the Development; and (d) The right of the Board to dedicate or transfer all or any portion of the Common Property subject to such conditions as may be agreed to by a vote of at least a Majority of the Owners. No such dedication or transfer shall be effective unless an instrument agreeing to such dedication or transfer has been approved by at least a Majority of the Members, in person or by proxy, at a meeting duly called for such purpose (or, if a meeting is not called, upon the affirmative vote of at least a Majority of the votes cast in a referendum on the issue) and, so long as the Declarant has an option unilaterally to subject additional property to this Declaration as provided in Article X herein, by the Declarant, in writing. An Owner's right of use and enjoyment in and to the Common Property and facilities located thereon shall extend to the Members of his family and guests. An Owner shall be deemed to have made a delegation of all such rights (except for the right of ingress and egress to the Owner's property) to the Occupants of any leased Residence or to a Designee. -21- Upon the affirmative vote of the Majority of the Members present, in person or by proxy, at a meeting duly called for such purpose (or, if a meeting is not called, upon the affirmative vote of at least a Majority of the votes cast in a referendum on the issue) and, so long as the Declarant has an option unilaterally to subject additional property to this Declaration as provided in Article X hereof, the consent of Declarant, the Board may alter the use of any Common Property. For example, and by way of illustration and not limitation, the Board may convert tennis courts into a basketball court or vice versa. An Owner's right of use and enjoyment in and to the Common Property and facilities located thereon shall not give any Owner the right of ingress or egress across any Lot to obtain access to such Common Property. Section 2. Reserved Easements for the Provision of Services to the Development. There is hereby reserved to the Declarant, its successors and assigns, blanket easements upon, across, above and under all property within the Development for access, ingress, egress, installation, repairing, replacing, maintaining, and removing rights -of -way, drainage facilities, floodway easements, and all utilities serving the Development or any portion thereof, including, but not limited to, gas, water, sanitary sewer, telephone and electricity, and any other similar service such as, but not limited to, a master television antenna system, cable television system, video system, or security system which the Declarant might choose to have installed to serve the Development or any portion thereof. It shall be expressly permissible for the Declarant and its successors and assigns to install, repair, replace, maintain, and remove or to authorize the installation, repair, replacement, maintenance, or removal of such wires, conduits, cables and other equipment related to the providing of any such utility or service. Declarant and its successors and assigns shall have full rights of ingress and egress at all times over all portions of the Development for the installation, operation, maintenance, repair, or removal of any of the foregoing utilities or services and shall have the right to remove any unauthorized obstruction placed in or on any of the foregoing easements that would, in the sole discretion of Declarant or its successors and assigns, interfere with the use of the above installation of the foregoing utilities or services. In no event shall the foregoing prohibit paving or landscaping within such easements. Declarant shall have the right to assign and convey, in whole or in part, the easements reserved by it hereunder to one or more public utility companies, quasi -public service companies, or relevant governmental authorities. All utilities, except drainage installed within the above described easements, shall be installed underground. This reserved easement may be assigned by Declarant by written instrument to the Association, and the Association shall accept such assignment upon such terms and conditions as are acceptable to Declarant. Rights exercised pursuant to such reserved easements shall be exercised with a minimum of interference to the quiet enjoyment of affected property. Reasonable steps shall be taken to protect such property, and damage shall be repaired by the Person causing the damage at its sole expense. Section 3. Easement for Entry. In addition to the right of the Board to exercise self- help as provided in Article XIII, Section 2, hereof, the Board and/or its representatives shall have the right, but shall not be obligated, to enter upon any property within the Development for emergency, security, and safety, which right may be exercised by the manager or director of the Association, and all policemen, firemen, ambulance personnel, and similar emergency personnel -22- in the performance of their respective duties. Except in an emergency situation, entry shall only be during reasonable hours and after notice to the Owner, and the entering parry shall be responsible for any damage caused. It is intended that this right of entry shall include the right of the Board and/or its representatives to enter to cure any condition which may increase the possibility of a fire, slope erosion, or other hazard in the event an Owner or Occupant fails or refuses to cure the condition upon request by the Board. Section 4. Easement for Water Feature Maintenance. Declarant hereby expressly reserves a perpetual easement for the benefit of Declarant and its successors and assigns, across such portions of the Development, determined in the sole discretion of Declarant (or its successors and assigns), as are necessary to allow for the maintenance of water features, fountains, wet detention ponds, etc., which are within the Development or which are made available for the use and enjoyment of Owners and Occupants within the Development. Such maintenance shall be performed with a minimum of interference to the quiet enjoyment of adjacent property, reasonable steps shall be taken to protect such property, and damage shall be repaired by the Person causing the damage at its sole expense. ARTICLE XIII General Provisions Section 1. Enforcement. Each Owner and every Occupant shall comply strictly with the Bylaws, the rules and regulations, the use restrictions and with the Community -Wide Standards, all as may be amended or modified from time to time, and with the covenants, conditions, and restrictions set forth in this Declaration, as may be amended from time to time, and in the deed to his or her property within the Development, if any. The Board may impose fines or other sanctions, which shall be collected as provided herein for the collection of assessments. Failure to comply with this Declaration, the Bylaws, the rules and regulations, use restrictions, or Community -Wide Standards shall be grounds for an action to recover sums due for damages or injunctive relief, or both, maintainable by the Board on behalf of the Association, or, in a proper case, by an aggrieved Owner or Occupant. Failure by the Board or any Owner or Occupant to enforce any of the foregoing shall in no event be deemed a waiver of the right to do so thereafter. Section 2. Self -Help. In addition to any other remedies provided for herein or at law or in equity, the Board or its duly authorized agent shall have the power to enter upon a Lot, Residence or any portion of the Development to abate or remove, using such force as may be reasonably necessary, any erection, thing or condition which violates this Declaration, the Bylaws, the rules and regulations, the use restrictions, or the Community -Wide Standards. Except in the case of emergency situations and towing, the Board shall give the violating Owner ten (10) days' written notice of its intent to exercise self-help. All costs incurred shall be assessed against the violating Owner and shall be collected as provided for herein for the collection of assessments. Section 3. Duration. The provisions of this Declaration shall run with and bind the land and shall be and remain in effect perpetually to the extent permitted by law; provided, however, - 23 - should any provision of Arkansas law now or hereafter in effect limit the period during which covenants restricting land to certain uses may run, any provisions of the Declaration affected thereby shall run with and bind the land for a term of twenty-six (26) years from the date of the recording of this Declaration, after which time these provisions shall be automatically extended for successive periods of ten (10) years unless such extension is disapproved at a meeting duly called for such purpose by at least a Majority of the total Association vote (or, if a meeting is not called, upon the affirmative vote of at least a Majority of the Association votes as recorded by a referendum on the issue) and, so long as the Declarant has an option unilaterally to subject additional property to this Declaration as provided in Article X hereof, the written consent of Declarant. Such meeting or referendum must be held and a written instrument reflecting disapproval must be recorded within the year immediately preceding the beginning of a renewal period. Every purchaser or grantee of any interest in any real property subject to this Declaration, by acceptance of a deed or other document of conveyance, thereby agrees that such provisions of this Declaration may be extended and renewed as provided in this Section. Section 4. Amendment. This Declaration may be amended unilaterally at any time and from time to time by Declarant (a) if such amendment is necessary to bring any provision hereof into compliance with any applicable governmental statute, rule, or regulation or judicial determination which shall be in conflict therewith; (b) if such amendment is necessary to enable any reputable title insurance company to issue title insurance coverage with respect to the Residences subject to this Declaration; (c) if such amendment is required by an institutional or governmental lender or purchaser of Mortgage loans, including, for example, without limitation the Federal National Mortgage Association or Federal Home Loan Mortgage Corporation, or a State or National Bank, to enable such lender or purchaser to make or purchase Mortgage loans on the Residences subject to this Declaration; (d) if such amendment is necessary to enable any governmental agency or reputable private insurance company to insure Mortgage loans on the Residences subject to this Declaration; or (e) if such amendment is required to cure a scrivener's error, rectify or cure contradictions between this Declaration and laws, codes or City regulations or to conform this Declaration with Federal or Arkansas State law, provided, however, any such amendment shall not adversely affect the title to any Owner's property unless any such Owner so affected shall consent thereto in writing. In addition to the above, this Declaration may be amended upon the affirmative vote or written consent, or any combination thereof, of at least a two-thirds (2/3) vote of the total Owners entitled to vote thereon and, so long as the Declarant has an option unilaterally to subject additional property to this Declaration as provided in Article X hereof, the within consent of the Declarant. A meeting may be called (but shall not be required to be called) to consider and vote upon any amendment. Amendments to this Declaration shall become effective upon recordation, unless a later effective date is specified therein. Any procedural challenge to an amendment must be made within six (6) months of its recordation. In no event shall a change of conditions or circumstances operate to amend any provisions of the Declaration or Bylaws. Section 5. Partition. The Common Property shall remain undivided, and no Owner nor any other Person shall bring any action for partition or division of the whole or any part thereof -24- without the written consent of all Owners of all portions of the property located within the Development, the written consent of all holders of all Mortgages encumbering any portion of the property located within the Development, and, so long as the Declarant has an option unilaterally to subject additional property to this Declaration as provided in Article X hereof, the within consent of the Declarant. Section 6. Gender and Grammar. The singular, wherever used herein, shall be construed to mean the plural, when applicable, and the use of the masculine pronoun shall include the neuter and feminine. Section 7. Severability. Whenever possible, each provision of this Declaration shall be interpreted in such manner as to be effective and valid, but if the application of any provision of this Declaration to any Person or to any property shall be prohibited or held invalid, such prohibition or invalidity shall not affect any other provision or the application of any provision which can be given effect without the invalid provision or application, and, to this end, the provisions of this Declaration are declared to be severable. Section S. Captions. The captions of each Article and Section hereof, as to the contents of each Article and Section, are inserted only for convenience and are in no way to be construed as defining, limiting extending, or otherwise modifying or adding to the particular Article or Section to which they refer. Section 9. Indemnification. The Association shall indemnify every Officer, Director and ARC member against any and all expenses, including attorney's fees, imposed upon or reasonably incurred by any of the above in connection with any action, suit, or other proceeding (including settlement of any suit or proceeding, if approved by the then Board of Directors) to which he or she may be a party by reason of being or having been an Officer, Director or ARC member. The Officers, Directors and ARC members shall have no personal liability with respect to any contract or other commitment made by them, in good faith, on behalf of the Association (except to the extent that such Officers, Directors or ARC members may also be Members of the Association), and the Association shall indemnify and forever hold each such Officer, Director and ARC member free and harmless against any and all liability to others on account of any such contract or commitment. Any right to indemnification provided for herein shall not be exclusive of any other rights to which any Officer, Director or ARC member, or former Officer, Director or ARC member, may be entitled. The Association shall maintain adequate general liability and Officers' and Directors' liability insurance to fund this obligation, if such coverage is reasonably available. Section 10. Construction and Sale Period. Notwithstanding any provisions contained in this Declaration, the Bylaws, Articles of Incorporation, use restrictions, rules and regulations, Community -Wide Standards, and any amendments thereto, until Declarant's right unilaterally to subject property to this Declaration as provided in Article X terminates, it shall be expressly permissible for Declarant to maintain and carry on, upon such portion of the Development as Declarant may deem necessary, such facilities and activities as in the sole opinion of Declarant may be required, convenient, or incidental to Declarant's development, construction, and sales activities, including, but without limitation: the right of access, ingress and egress for vehicular - 25 - and pedestrian traffic over, under, on or in the Development; the right to tie into any portion of the Development with streets, driveways, parking areas and walkways; the right to tie into and/or otherwise connect and use (without a tap -on or any other fee for so doing), replace, relocate, maintain and repair any device which provides utility or similar services including, without limitation, electrical, telephone, natural gas, water, sewer and drainage lines and facilities constructed or installed in, on, under and/or over the Development; the right to carry on sales and promotional activities in the Development, including directional and sales signs in the common areas; and the right to construct and operate business offices, signs, banners, flags, construction trailers, sales offices, model Residences with fences, gates and walkways, and hold open houses and tours of homes for the public. Declarant may use Residences or offices owned or leased by Declarant as model Residences and sales offices. Rights exercised pursuant to such reserved easement shall be exercised with a minimum of interference to the quiet enjoyment of affected property, reasonable steps shall be taken to protect such property, and damage shall be repaired by the Person causing the damage at its sole expense. All of the rights set forth in this Section 10 of Article XIII shall be fully assignable by Declarant to third parties acting on its behalf without notice to or consent of the Association or the Owners. Section 11. Books and Records. This Declaration, the Bylaws, the Articles of Incorporation, copies of rules and regulations, use restrictions, Community -Wide Standards, membership register, books of account, and minutes of meetings of the Members, of the Board and of committees shall be made available for inspection and copying by any Member or by his duly appointed representative and by holders, insurers, or guarantors of any first Mortgage at any reasonable time and for a purpose reasonably related to his or her interest as a Member or holder, insurer, or guarantor of a first Mortgage at the office of the Association or at such other reasonable place as the Board shall prescribe. The Board shall establish reasonable rules with respect to: (a) notice to be given to the custodian of the records; (b) hours and days of the week when such an inspection may be made; and (c) payment of the cost of reproducing copies of documents. Every Director shall have the absolute right at any reasonable time to inspect all books, records, and documents of the Association and the physical properties owned or controlled by the Association. The right of inspection by a Director includes the right to make extra copies of documents at the reasonable expense of the Association. Section 12. Audit. An audit of the accounts of the Association shall be made annually in such manner as the Board may decide. Upon written request of any institutional holder of a first Mortgage, such holder, upon payment of the costs associated therewith, shall be entitled to receive a copy of a financial statement within ninety (90) days of the date of the request. -26- Section 13. Notice of Sale. If an Owner sells his or her Residence, the Owner shall give to the Board, in writing, the name of the purchaser of the Residence and such other information as the Board may reasonably require. Section 14. Estoppel Certificate. Upon the request of any Member, the Board or its designee shall furnish a written certificate signed by an officer or agent of the Association regarding unpaid assessments levied against that Member's property and any violations of the Declaration, the Bylaws, use restrictions, rules and regulations, or Community -Wide Standards by any Owner or Occupant of such property. Such certificate shall bind the Association with respect to the foregoing matters. The Association may require the advance payment of a processing fee not to exceed Twenty-five Dollars ($25.04) for the issuance of each such certificate. Section 15. Agreements. Subject to the prior approval of Declarant, so long as the Declarant has an option unilaterally to subject additional property to this Declaration as provided in Article X above, all agreements and determinations, including settlement agreements regarding litigation involving the Association, lawfully authorized by the Board shall be binding upon all Owners, their heirs, legal representatives, successors, assigns, and others having an interest in the Development or the privilege of possession and enjoyment of any part of the Development. Section 16. Implied Rights. The Association may exercise any right or privilege given to it expressly by the Declaration, the By -Laws, the Articles of Incorporation, any use restriction or rule, the Community -Wide Standards and every other right or privilege reasonably to be implied from the existence of any right or privilege given to it therein or reasonably necessary to effectuate any such right or privilege. Section 17. Deviations. The Board or its designee or the Declarant so long as the Declarant has an option to subject additional property to the Declaration as provided in Article X above, may, in the exercise of its discretion, permit deviations from the restrictions contained in this Declaration, the By -Laws, the rules and regulations, the use restrictions and the Community - Wide Standards. Section 18. Use of Phrases "Sienna Lake" and "Sienna Lake, a Cooper Community". No Person shall use the phrases "Sienna Lake" or "Sienna Lake, a Cooper Community" in the name of any commercial or residential building or any commercial or residential business or enterprise or in any printed, electronic or visual promotional material without the prior written consent of the Declarant. However, Owners or Occupants may use the term "Sienna Lake" in printed or promotional matter where such term is used solely to specify that particular property is located within the Development. Section 19. License for Use of Sienna Lake and Sienna Lake, a Cooper Community. Declarant shall have an exclusive license to use the phrases "Sienna Lake" and "Sienna Lake, a Cooper Community" in any and all advertising, promotional or sales material, including any signage used at the Development, for so long as Declarant remains an owner of unsold Lots at the Development, or, for so long as Declarant retains an active sales office at the Development, -27- whichever comes first. This License may be unilaterally assigned by Declarant to third parties contracted by Declarant to represent it in the sales of Lots at the Development. Notwithstanding the foregoing, Declarant as well as Owners shall be entitled to use "Sienna Lake, a Cooper Community" on any materials referencing the Development's true and proper name. IN WITNESS WHEREOF, the undersigned have executed this instrument under seal this day of October, 2006. ATTEST: Suzanne L. Young, Assistant Secretary ATTEST: Tom Oppenheim, Secretary COOPER LAND DEVELOPMENT, INC. an Arkansas corporation Randy Brucker, President SIENNA LAKE PROPERTY OWNERS ASSOCIATION, INC. an Arkansas corporation J. Neff Basore, Jr. President -28- STATE OF ARKANSAS ) ) ss. ACKNOWLEDGMENT COUNTY OF BENTON ) On this day before me, a Notary Public duly commissioned, qualified and acting within and for the said County and State, appeared in person the within named Randy Brucker and Suzanne L. Young, to me personally well known, who stated that they were the President and Assistant Secretary of Cooper Land Development, Inc., an Arkansas corporation, and were duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said corporation, and further stated and acknowledged that they had so signed, executed and delivered 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 October, 2006. Notary Public STATE OF ARKANSAS ss. ACKNOWLEDGMENT COUNTY OF BENTON On this day before me, a Notary Public duly commissioned, qualified and acting within and for the said County and State, appeared in person the within named J. Neff Basore, Jr. and Tom Oppenheim, to me personally well known, who stated that they were the President and Secretary of Sienna Lake Property Owners Association, Inc., an Arkansas not -for -profit corporation, and were duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said corporation, and further stated and acknowledged that they had so signed, executed and delivered 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 October, 2006. [Sienna Lake Declaration Version 15 (10/24/06)] Notary Public -29- PROTECTIVE COVENANTS EXHIBIT 1 TO THE DECLARATION Section 1. Application. These Protective Covenants shall apply to all of the "Existing Property", as more particularly identified in ARTICLE II, Section 1 of the Declaration, and to additions to the Existing Property brought in under the Declaration through recorded supplemental declarations and plats, unless the Developer shall specifically except from these Protective Covenants such additions or a portion thereof in the supplemental declaration by which the Developer subjects such additions to this Declaration. In the event of conflict between these Protective Covenants and the Declaration, the Declaration shall prevail. These Protective Covenants shall not apply to real property owned by Developer and brouglit under the Declaration unless Developer voluntarily submits such property, or portions thereof, to these Protective Covenants through an express written declaration to that effect. Section 2. General. These Protective Covenants, beginning at Section 3, set out certain use restrictions which must be complied with by all Owners and Occupants. These use restrictions may only be amended in the manner provided in Article VI, Section 2 of the Declaration. However, the Board may adopt and promulgate, and the Board and the Architectural Review Committee (the "ARC") may enforce rules and regulations ("Architectural Standards") consistent with these Protective Covenants to maintain the standards of the Development. The Board may adopt and promulgate and the ARC may implement and enforce a schedule of Permit Fees for construction, alteration, and other activities on property within the Development. The Board may also require and the ARC may collect and administer Construction, Storm Water Pollution Prevention, and/or Clean-up Deposits for activities within the Development. Permit Fees shall be used to defray the operating expenses of the ARC and may be used to promote the general welfare of the Development. The schedule for Permit Fees and the amounts required for Construction, Storm Water Pollution Prevention, and Clean-up Deposits may be amended by the Board from time to time. The ARC is authorized to establish roofing standards for the various subdivisions within the Development. These Protective Covenants along with the rules and regulations shall be known as the Development -Wide Standard. In addition, the Board, by a two-thirds (2/3) vote, may, from time to time, without consent of the Members, promulgate, modify, or delete other use restrictions and rules and regulations applicable to the Development. This authority shall include, but shall not be limited to, the right to limit the type and size of vehicles within the Development. Such use restrictions and rules shall be distributed to all Owners and Occupants prior to the date that they are to become effective and shall thereafter be binding upon all Owners and Occupants until and unless overruled, canceled, or modified in a regular or special meeting by a Majority of the total Association vote entitled to vote thereon and, so long as the Declarant has an option unilaterally 1 to subject additional property to this Declaration as provided in Article X of the Declaration, the consent of Declarant. Section 3. Residential Use. All Residences shall be used for single-family residential purposes exclusively. No business or business activity shall be carried on, in or upon any Residence at any time except with the written approval of the Board. The use of one or more homes by the Developer or its designee as "model homes" and/or a sales office is permitted. Leasing of a Residence shall not be considered a business or business activity. The Board may issue rules regarding permitted business activities. Section 4. Signs. No sign of any kind, other than "For Sale" signs consistent with the Development -Wide Standard, shall be erected by an Owner or Occupant within the Development without the prior written consent of the ARC. Notwithstanding the foregoing, the Board shall have the right to erect, maintain, repair and replace reasonable and appropriate signs as it may deem necessary to provide direction, identify the names of streets or provide other information relevant to the Development. The Developer has the right to erect any and all signs of the size and shape the Developer selects, in its sole discretion, to further the sales of Lots and Homes in the Development. Notwithstanding the foregoing, Owners shall be allowed to display no more than two (2) signs of a size no larger than a permitted "For Sale" sign supporting public office candidates or ballot issues commencing thirty (30) days before a scheduled election provided that all such signs are removed immediately after said scheduled election. Section 5. Vehicles and Garages. The term "vehicles," as used herein, shall include, without limitation, motor homes, boats, trailers, motorcycles, minibikes, ATVs, scooters, go- carts, trucks, campers, buses, vans and automobiles. Unless and except to the extent that the Occupants of a Residence shall have more vehicles than the number of parking areas serving their Residence, all vehicles shall be parked within such parking areas. Where the Residence contains a garage, "parking areas" shall refer to the number of garage parking spaces. No vehicle may be left upon any portion of the Development, except in a garage or other area designated by the Board, for a period longer than three (3) days if it is unlicensed or if it is in a condition such that it is incapable of being operated upon the public highways. After such three (3) day period, such vehicle shall be considered a nuisance and may be removed from the Development. Any towed vehicle, boat, recreational vehicle, motor home, or mobile home regularly stored in the Development or temporarily kept in the Development, except if kept in a garage or other area designated by the Board, for periods longer than twenty-four (24) successive hours shall be considered a nuisance and may be removed from the Development. Trucks with mounted campers which are an Owner's or Occupant's primary means of transportation shall not be considered recreational vehicles, provided they are used on a regular basis for transportation and the camper is stored out of public view upon removal. No motorized vehicles shall be permitted on pathways or unpaved Common Properties except for public safety vehicles and vehicles authorized by the Board. All single-family detached Residences shall contain, as a minimum, a two -car garage. Carports shall not be permitted. Garage doors should be kept closed except during times of 2 ingress and egress from the garage. All detached garages must be connected to the dwelling structure by a breezeway or covered walkway. Section 6. Leasing. Unless otherwise provided in the Supplemental Declaration controlling additions made subject to this Declaration, residences may be leased for residential purposes. All leases shall have a minimum term of six (6) months. All leases shall require, without limitation, that the tenant acknowledge receipt of a copy of the Declaration, By -Laws, use restrictions, and rules and regulations of the Association. The lease shall also obligate the tenant to comply with the foregoing and shall provide that in the event of noncompliance, the Board, in addition to any other remedies available to it, may evict the tenant on behalf of the Owner and specifically assess all costs associated therewith against the Owner and the Owner's property. By purchasing a Lot and constructing a Residence in the Development, an Owner is expressly providing the Board with a Special Power of Attorney to represent the Owner as provided in this Section 6. Section 7. Occupants Bound. All provisions of the Declaration, By -Laws, and of any rules and regulations, use restrictions or Community -Wide Standards promulgated pursuant thereto which govern the conduct of Owners and which provide for sanctions against Owners shall also apply to all Occupants even though Occupants are not specifically mentioned. Penalties may be levied against Owners or Occupants. If a penalty is first levied against an Occupant and is not paid timely, it may then be additionally levied against the Owner. Section 8. Animals and Pets. No animals, livestock, or poultry of any kind may be raised, bred, kept, or permitted in any Residence, with the exception of dogs, cats, or other usual and common household pets in reasonable number, as determined by the Board; provided, however, those pets which are permitted to roam free, or in the sole discretion of the Board, endanger health, make objectionable noise, (including, but not limited to barking dogs) or constitute a nuisance or inconvenience to the Members or Occupants or the Owner of any property located in or adjacent to the Development may be removed by the Board. No pets shall be kept, bred or maintained for any commercial purpose. Dogs which are household pets shall at all times whenever they are outside a Residence be on a leash or otherwise confined in a manner acceptable to the Board. Without prejudice to the Board's right to remove any such household pets, no household pet that has caused damage or injury may be walked in the Development. Animal control authorities shall be permitted to enter the Development to patrol and remove pets lawfully that are in violation of the law or these Protective Covenants. Pets shall be registered, licensed and inoculated as required by law. Section 9. Nuisance. It shall be the responsibility of each Owner and Occupant to prevent the development of any unclean, unhealthy, unsightly, or unkempt condition on his or her property. No property within the Development shall be used, in whole or in part, for the storage of any property or thing that will cause such Residence to appear to be in an unclean or untidy condition or that will be obnoxious to the eye; nor shall any substance, thing, or material be kept that will emit foul or obnoxious odors or that will cause any noise or other condition that will or might disturb the peace, quiet, safety, comfort, or serenity of the Occupants of surrounding property. No noxious, offensive or illegal activity shall be carried on within the Development, nor shall anything be done tending to cause embarrassment, discomfort, 3 annoyance, or nuisance to any Person using any property within the Development. There shall not be maintained any plants or animals or device or thing of any sort whose activities or existence is noxious, dangerous, unsightly, unpleasant, illegal or of a nature as may diminish or destroy the enjoyment of the Development. Section 10. Unsightly or Unkempt Conditions. The pursuit of hobbies or other activities, including specifically, without limiting the generality of the foregoing, the assembly and disassembly of motor vehicles and other mechanical devices, which might tend to cause disorderly, unsightly, or unkempt conditions, shall not be pursued or undertaken in any part of the Development. Section 11. Architectural Standards. The Declarant and/or the Board, through the ARC, shall have the exclusive authority to establish minimum requirements for the size of all residences (heated, cooled and uncontrolled square footage). The finished floor area of the main structure of a single family Residence in The Development shall be set by the ARC and promulgated to Owners and Builders from time to time as the needs of the community dictate. No single family Residence may exceed two (2) levels in height in the front. Each single family Residence shall have an attached garage for not less than two (2) nor more than four (4) vehicles. For any single family Residence constructed with more than a 2-vehicle garage, the driveway for such single family Residence must be constructed to taper to a 2-vehicle driveway width as it meets the street unless otherwise approved in advance by the ARC. Unless otherwise approved by the ARC, each Attached Home shall have a garage for one (1) vehicle and the exterior of such garage shall comply with the requirements of the Protective Covenants and the ARC Rules and Regulations. No exterior construction, alteration, addition, building, structure, or erection of any nature whatsoever shall be commenced or placed upon any part of the Development, except such as is installed by the Declarant, or as is approved in accordance with this Section, or as is otherwise expressly permitted herein. No exterior construction, addition, erection or alteration shall be made unless and until plans and specifications showing at least the nature, kind, shape, height, materials, exterior colors and location shall have been submitted in writing to and approved by the ARC. The following items, without limitation, will be submitted to the ARC for new home construction: house plans (clearly showing total heated/cooled and uncontrolled square footage), site plans, landscaping plans, and exterior color and material schedule. The Board may employ for the ARC, architects, engineers or other Persons necessary to enable the ARC to perform its review. The ARC may, from time to time, delegate any of its rights or responsibilities [iereundcr to one (1) or more duly licensed architects or other qualified persons, who shall have full authority to act on behalf of the ARC for all matters delegated and in the event of such delegation, the applicant shall be required to pay any reasonable fees charged by such architects or other qualified persons. In the event that the ARC fails to approve or to disapprove submitted plans and specifications within thirty (30) days after the plans and specifications have been submitted to it, said time commencing to run on the date of receipt of written plans and specifications by the ARC from an Owner or Builder, then formal approval will not be required, and this Section will be deemed to have been fully complied with. As a condition of approval under this Section, an Owner, on behalf of himself and his successors -in -interest, shall assume all responsibilities for maintenance, repair, replacement, and insurance to and on any change, modification, addition, or 0 alteration. In the discretion of the ARC, an Owner may be made to verify such condition of approval on behalf of himself and his successors -in -interest. The ARC shall be the sole arbiter of such plans and may withhold approval for any reason, including purely aesthetic considerations, and it shall be entitled to stop any construction in violation of these restrictions. Any member of the Board or its representatives shall have the right, during reasonable hours and after reasonable notice, to enter upon any property to inspect for the purpose of ascertaining whether or not, or to the extent to which these restrictive covenants have been or are being honored. Such Person or Persons shall not be deemed guilty of trespass by reason of such entry. Plans and specifications are not reviewed or approved by the ARC for engineering or structural design or quality of materials, and by approving such plans and specifications neither the ARC, the members thereof, nor the Association assumes liability or responsibility for any defect in any structure constructed from such plans and specifications, no matter what the cause. Neither Declarant, the Association, the ARC, the Board, nor the officers, directors, members, employees, and agents or any of them shall be liable in damages to anyone submitting plans and specifications to any of them for approval, or to any Owner of property affected by these restrictions by reason of a mistake in judgment, negligence, or nonfeasance arising out of or in connection with the approval or disapproval or failure to approve or disapprove any such plans or specifications. Every Person who submits plans or specifications, and every Owner, agrees that he will not bring any action or suit against Declarant, the Association, the ARC, the Board or the officers, directors, members, employees and agents of any of them to recover any such damages and hereby releases, remises, quit -claims, and covenants not to sue for all claims, demands, and causes of action arising out of or in connection with any judgment, negligence, or nonfeasance and hereby waives the provisions of any law which provides that a general release does not extend to claims, demands, and causes of action not known at the time the release is given. Nothing in these Protective Covenants shall be construed to waive or supersede any local municipal authority requiring building permits, plan review, permit fees, inspections or other rules, regulations, fees or requirements currently in effect or enacted at any time in the future. Section 12. Antennas. Exterior satellite dishes, aerials, antennas or other communication equipment of any kind shall be placed, allowed, or maintained upon any portion of the Development, including any Residence only with the prior written consent of the ARC or its designee. No free standing antenna whatsoever shall be placed on any Residence. The ARC or its designee may approve the installation of equipment which does not protrude above the roof line of the Residence at its highest point and is not visible from the street in front of the Residence. Each Owner and Occupant acknowledges that this provision benefits all Owners and Occupants and each Owner and Occupant agrees to comply with this provision despite the fact that the erection of an outdoor antenna or similar device would be the most cost-effective way to transmit or receive the signals sought to be transmitted or received. Section 13. Tree Removal. No trees shall be removed without the express consent of the Board or its designee, except for (a) diseased or dead trees; (b) trees less than six (6) inches in diameter; (c) trees needing to be removed for safety reasons; or (d) trees that would interfere with the construction of a building approved by the ARC. 5 Section 14. Drainage. Wet and dry retention areas, catch basins and drainage areas are for the purpose of natural flow of water only. No obstructions or debris shall be placed in these areas. No Owner or Occupant may obstruct or re -channel the drainage flows after location and installation of drainage swales, storm sewers, or storm drains except with the permission of the ARC. Declarant hereby reserves a perpetual easement across all Development property for the purpose of altering drainage and water flow. Rights exercised pursuant to such reserved easement shall be exercised with a minimum of interference to the quiet enjoyment of affected property, reasonable steps shall be taken to protect such property, and damage shall be repaired by the Person causing the damage at such Person's sole expense. Section 15. Site Distance at Intersections. All property located at street intersections shall be landscaped so as to permit safe sight across the street corners. No fence, wall, hedge, or shrub planting shall be placed or permitted to remain where this would create a traffic or sight problem. Section 16. Clotheslines, Garbage Cans, Woodpiles, Etc. All clotheslines, garbage cans, woodpiles, swimming pool pumps, filters and related equipment, air conditioning condensers and compressors and other similar items shall be located or screened so as to be concealed from view of neighboring streets and property. See also Sections 21 and 32 below. All rubbish, trash and garbage shall be regularly removed and shall not be allowed to accumulate. Declarant, however, hereby expressly reserves the right to dump and bury rocks and trees on property within the Development as needed for efficient construction. Trash, garbage, debris, yard waste or other waste material of any kind may not be burned, buried or otherwise disposed of within the Development, except when done during the normal construction of a Residence or by Declarant, and only in compliance with Little Rock City Ordinances. Section 17. Subdivision of Residence. No Residence shall be subdivided or its boundary lines changed except with the prior written approval of the Board or its designee and the Little Rock Planning Commission. Declarant, however, hereby expressly reserves the right to replat any Residence or Residences owned by Declarant during the time in which Declarant may annex property and continues to have active sales of Lots at the Development. Any such division, boundary line change, or replatting shall not be in violation of the applicable subdivision and zoning regulations. Section 18. Guns and Archery Equipment. The use of firearms, cross bows, bows and arrows, paint ball guns and archery equipment of any kind or nature in the Development is prohibited. The term "firearms" includes `B-B" guns, pellet guns and firearms of all types. Section 19. Fencing. No fence or fencing type barrier of any kind shall be placed, erected, allowed, or maintained upon any portion of the Development, including any Residence, without the prior written consent of the ARC or its designee. In particular, no fencing of any kind shall be placed on lake front lots without the express written consent of the ARC. Any fence constructed must be compatible with the design of the home or homes next to it and have architectural character. Flat wood fencing that does not have architectural character and visual relief will not be approved. No fence will be higher than six (6) feet from the final ground level Cel to the top of the fence except by special permission of the ARC. The exterior side of the fence has to be finished; specifically, the structural characteristics must be covered. No roughsawn board of any kind will be used in the fence. All wood will be painted or opaque stained and maintained in a satisfactory manner. No chain link fence will be allowed within the subdivision. Fences, regardless of construction, will not be permitted any nearer to the front lot line than the rear most corner of the dwelling except in extraordinary circumstances. For Patio Homes and Attached Homes, if any, fences may only be permitted around or between rear patios or decks. Such placement, if permitted, must be approved in advance by the ARC. Section 20. Utility Lines. No overhead utility lines, including lines for cable television, shall be permitted within the Development, except for temporary lines as required during construction and lines installed by or at the request of Declarant. Section 21. Air -Conditioning Units and Swimming Pool Equipment. Except as may be permitted by the Board or its designee, no window air conditioning units may be installed. All air conditioning condensers and compressors; swimming pool pumps, filters and related equipment; and other similar items shall be located and screened to minimize the noise produced by their operations. Section 22. Lighting. Except for approved lighting as originally installed on a Residence, exterior lighting visible from the street shall not be permitted, except for (a) two (2) decorative post lights; (b) a street light in conformity with an established street lighting program for the Development; (c) seasonal decorative lights at Christmas or another recognized national holiday; or (d) front house, sidewalk, driveway and/or landscape illumination as may be approved by the ARC. Section 23. Artificial Vegetation, Exterior Sculpture, and Similar Items. No artificial vegetation shall be permitted on the exterior of any property. Exterior sculpture, fountains, flags, and similar items must be approved by the Board or its designee. Section 24. Energy Conservation Equipment. No solar energy collector panels or attendant hardware or other energy conservation equipment shall be constructed or installed unless they are an integral and harmonious part of the architectural design of a structure, as determined in the sole discretion of the Board or its designee. Section 25. Above -Ground Swimming Pools and Hot Tubs (Spas). Above -ground swimming pools shall not be constructed or installed. Hot tubs (spas) may be installed at the rear of a Residence with the approval of the ARC. Section 26. Driveways. Except as may be permitted by the Board or its designee, driveways shall be constructed with concrete. Section 27. Exteriors. The exterior of all improvements including, without limitation, residences, shall conform with the rules, policies and procedures issued by the ARC from time to time. Siding, if allowed by the ARC, trim soffit, fascia and other cornice elements, shutters and 7 all other painted features of a Residence must be painted and repainted in a color approved by the ARC. No Residence exterior shall be constructed of untreated wood. Section 28. Window Coverings. Aluminum foil on window panes, and mirrored or reflective glass is not allowed. Storm windows and doors that are approved by the ARC are allowed. Section 29. Chimneys. All chimneys that are on the exterior wall must have brick, stone, stucco product or siding approved by the ARC on the three exposed sides of the chimney. Interior chimneys must have brick, stone, siding or stucco product on all four sides of the chimney from the point of protrusion through the roof plane to the cap. A chimney cap is required. Section 30. Mailboxes. Individual mailboxes must be brick and pre -approved in design by the ARC prior to commencement of construction. Section 31. Landscaping. The purpose of this provision is to promote landscape development of single family residential Lots and Residences that will preserve and appreciate the value of the development by promoting a high quality, cohesive level of landscaping. The ARC shall establish landscaping standards and requirements and may alter or amend them at its discretion. Section 32. Screening of Heating and Cooling Units. All exterior heat and air conditioning compressors or air handlers must be screened from view. This can be accomplished with either vegetation, approved fencing, brick and/or stone. If vegetation is used it must create a walled off effect. The screening is encouraged on all sides of the equipment but is required for all sides visible from a public street. Section 33. Storage Tanks. All storage tanks must be approved by the ARC and, if approved, must be buried, or, if they are less than one hundred and one (101) gallon capacity, may, with the ARC's approval, be installed above ground, if properly screened. Section 34. Basketball Goals and Playground Equipment. No basketball goals or other playground equipment may be erected or installed without the permission of the ARC. The ARC has the exclusive authority to designate the location for the erection or installation of any basketball goals or playground equipment as a condition of its approval. Section 35. Property Adjoining Lake or Permanent Recreation Area. No structure may be placed, nor may any material or refuse be placed or stored within 20 feet of the property line of any Common Property used as a lake or permanent recreation area. There shall be no fencing of any kind placed on lake front lots without first receiving express written approval from the ARC. Section 36. Boats. Due to its small size, no boats will be allowed on the lake with gas or diesel powered motors. 8 Section 37. Enforcement. These Protective Covenants may be enforced in the same manner as any violation or threatened violation of the Declaration of which these Protective Covenants are a part including, but not limited to the lien rights of the Association for any costs or charges incurred in connection therewith. [THE END] Legal\tdp\sienna lake\protective covenants [version 5 10/24106] E