HomeMy WebLinkAboutBill of Assurance 072425Instrument# 2017070649 Page 1 of 11
THIS INSTRUMENT PREPARED BY
Chris Parker, Esq.
Eichenbaum Liles P.A.
124 West Capitol Avenue, Suite 1900
Little Rock, Arkansas 72201
I I I IIIII�IIIIII�IIIIIIiI 11111111111111 2017070649
PRESENTED: 11-02-2017 02:45:59 PM RECORDED: 11-02-2017 02:51:29 PM
In Official Records of Larry Crane Circuit/County Clerk
PULASKI CO, AR FEE $65.00
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DECLARATION, PLAT, RESTRICTIVE COVENANTS �$yNf 4.!Ot
AND BILL OF ASSURANCE OF �'Mullffw
20100 HIGHWAY 10 SUBDIVISION
This DECLARATION, PLAT, RESTRICTIVE COVENANTS AND BILL OF
ASSURANCE OF 20100 HIGHWAY 10 SUBDIVISIO/ is made this,-�day of 'Q C , , 2017
by PDC, LLC hereafter referred to as "Developer". T
WHEREAS, PDC, LLC is the owner of certain property described as follows:
PART OF THE NW1/4 OF SECTION 15, T-2-N, R-14-W, PULASKI COUNTY, ARKANSAS,
BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF LOT 9A, NORTHWEST TERRITORY
ADDITION, AN ADDITION TO THE CITY OF LITTLE ROCK, ARKANSAS; THENCE
S09°14'31 "W, ALONG THE WEST LINE OF SAID LOT 9A, A DISTANCE OF 400.13 FEET
TO THE SOUTHWEST CORNER OF SAID LOT 9A, SAID CORNER LYING ON THE
NORTH RIGHT OF WAY LINE OF ARKANSAS STATE HWY # 10; THENCE WESTERLY
ALONG SAID NORTH RIGHT OF WAY LINE THE FOLLOWING COURSES: (1)
N61001'00"W, 83.45 FEET; (2) S87°35'34"W, 123.69 FEET; (3) N73'13'41"W, 252.49 FEET;
THENCE LEAVING SAID NORTH RIGHT OF WAY LINE N09014'31 "E, A DISTANCE OF
532.92 FEET TO A POINT ON THE SOUTHERLY RIGHT OF WAY LINE OF CHENAL
PARKWAY; THENCE S60°28'08"E, ALONG SAID SOUTHERLY RIGHT OF WAY LINE, A
DISTANCE OF 429.62 FEET; THENCE CONTINUE ALONG SAID SOUTHERLY RIGHT
OF WAY LINE FOLLOWING THE ARC OF A 527.96 FOOT RADIUS CURVE TO THE
RIGHT, HAVING A CHORD BEARING AND DISTANCE OF S57036'41 "E, 51.15 FEET TO
THE POINT OF BEGINNING.
Hereafter the "Property" or the "Subdivision"; and
WHEREAS, Developer has caused to be made a Plat, filed herewith, prepared by
Timothy E. Daters, a Registered Professional Engineer, dated September, 2017, showing a
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Instrument# 2017070649 Page 2 of 11
survey made by Daniel W. Havner a Registered Land Surveyor, bearing a certificate of approval
executed by the City of Little Rock Planning Department and showing thereon the metes,
bounds, and dimensions of that portion of the Property which Developer now desires to
subdivide a plat into a Lot and private right-of-way and easements and which is more
particularly described as follows, to -wit:
LOT 911
PART OF THE NW1/4 OF SECTION 15, T-2-N, R-14-W, PULASKI COUNTY, ARKANSAS,
BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE NORTHWEST CORNER OF LOT 9A, NORTHWEST TERRITORY
ADDITION, AN ADDITION TO THE CITY OF LITTLE ROCK, ARKANSAS; THENCE
S09°14'31 "W, ALONG THE WEST LINE OF SAID LOT 9A, A DISTANCE OF 172.51 FEET
TO THE POINT OF BEGINNING; THENCE CONTINUE S09°14'31"W, ALONG THE WEST
LINE OF SAID LOT 9A, A DISTANCE OF 227.62 FEET TO THE SOUTHWEST CORNER
OF SAID LOT 9A, SAID CORNER LYING ON THE NORTH RIGHT OF WAY LINE OF
ARKANSAS STATE HWY # 10; THENCE WESTERLY ALONG SAID NORTH RIGHT OF
WAY LINE THE FOLLOWING COURSES: (1) N61'01'00"W, 83.45 FEET; (2) S87°35'34"W,
123.69 FEET; (3) N73°13'41 "W, 25.54 FEET; THENCE LEAVING SAID NORTH RIGHT OF
WAY LINE N09°14'31"E, A DISTANCE OF 221.06 FEET; THENCE S80°45'29"E, A
DISTANCE OF 225.00 FEET TO THE POINT OF BEGINNING. CONTAINING 1.1038
ACRES, MORE OR LESS.
PRIVATE ROADWAY
A 60 FOOT WIDE ACCESS, DRAINAGE AND UTILITY EASEMENT IN PART OF THE
NWl/4 OF SECTION 15, T-2-N, R-14-W, PULASKI COUNTY, ARKANSAS, LYING 30
FEET ON EACH SIDE OF THE FOLLOWING DESCRIBED CENTERLINE:
COMMENCING AT THE NORTHWEST CORNER OF LOT 9A, NORTHWEST TERRITORY
ADDITION, AN ADDITION TO THE CITY OF LITTLE ROCK, ARKANSAS; THENCE
S09°14'31 "W, ALONG THE WEST LINE OF SAID LOT 9A, A DISTANCE OF 400.13 FEET
TO THE SOUTHWEST CORNER OF SAID LOT 9A, SAID CORNER LYING ON THE
NORTH RIGHT OF WAY LINE OF ARKANSAS STATE HWY # 10; THENCE WESTERLY
ALONG SAID NORTH RIGHT OF WAY LINE THE FOLLOWING COURSES: (1)
N61-01'00"W, 83.45 FEET; (2) S87°35'34"W, 123.69 FEET; (3) N73°13'41"W, 25.54 FEET TO
THE POINT OF BEGINNING OF SAID CENTERLINE; THENCE N09° 14'31 "E, ALONG
SAID CENTERLINE, A DISTANCE OF 479.48 FEET TO THE POINT OF TERMINATION
OF SAID CENTERLINE. THE SIDELINES OF SAID EASEMENT SHALL BEGIN AND
TERMINATE AT THE NORTH RIGHT OF WAY LINE OF ARKANSAS STATE HWY # 10
ON THE SOUTH, AND THE SOUTHERLY RIGHT OF WAY LINE OF CHENAL
PARKWAY ON THE NORTH.
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NOWTHEREFORE, Developer warrants and represents that it has laid off, platted, and
does hereby lay off, plat and subdivide the Lot hereinabove described in accordance with the
aforesaid Plat. The Property described above and embraced in the Plat shall be forever known as
Lot 9B of 20100 Highway 10 Subdivision, an Addition to the City of Little Rock, Pulaski
County, Arkansas, and any and every deed of conveyance of said Lots describing the same by
such numerical character shall always be deemed a sufficient description thereof. The filing of
this DECLARATION, PLAT, RESTRICTIVE COVENANTS AND BILL OF ASSURANCE
(the "BOA") in the office of the Circuit Clerk and Ex-Officio Recorder of Pulaski County,
Arkansas shall be a valid and complete delivery, conveyance and imposition of the private right-
of-way and any other easements shown on said Plat for the use and benefit of Lot 9B and other
Lots to be created out of the Property.
1. The Property described above is a part of the Northwest Territory Addition to the
City of Little Rock and subject to that Declaration, Plat, Restrictive Covenant, and Bill of
Assurance of Northwest Territory filed for record as Instrument No. 97-042357 in the real estate
records of Pulaski County, Arkansas (the "N.W. Territory BOA"). Except as specifically noted
and amended herein these restrictions and obligations in the N.W. Territory BOA continue to be
imposed on Lot 9B and all other portions of the Subdivision.
2. The requirement of Paragraphs 6.7 (b) and (c) of the NW Territory BOA are met as
to Lot 9B by the Developer's approval of the flat roof proposed for construction on Lot 9B
because the proposed parapet wall on that roof in the proposed design will be equal to or greater
in height than any mechanical and other equipment to be installed on such roof.
3. An order board operating in conjunction with a restaurant drive through window
broadcasting with a volume intended to be heard by a single customer vehicle is not an external
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(Instrument# 2017070649 Page 4 of 11
public address system or paging system prohibited under Paragraph 6.13 of the NW Territory
BOA.
4. The Plat filed herewith creates a private roadway easement for the benefit of Lot
9B, and the other Lots to be platted from the Property as part of the Subdivision which roadway
will be constructed by the Developer in conjunction with the sale of Lot 9B (the "Private
Roadway"). The roadway will include street lighting, curb, base, asphalt, drainage, sidewalks,
sanitary sewer and water stub outs, Chenal Parkway street improvements, Cantrell Road
sidewalk, and any City department's requirements for platting the property. The Developer will
also construct lighted monument signs, on two unsold Lots where the Private Roadway intersects
Highway 10 and Chenal Parkway. The Private Roadway and the lighted monument signs are
hereafter collectively referred to as the Subdivision Common Areas.
5. Timing And Legal Forms. The Developer will form a Property Owners
Association (hereinafter the "Association"). The Association shall be an Arkansas not -for -profit
corporation whose Articles of Incorporation shall, provide that all owners of platted Lots and still
unplatted portions of the Subdivision (other than any government entity which has acquired any
portion thereof for rights -of -way for purposes other than the ownership of Lots and/or the
improvements thereon and those acquiring an interest for purposes of securing a debt or other
obligation) shall be and become members thereof by virtue of Lot or Property Ownership within
the Subdivision and that the Association will accept common areas (either fee or easement) from
the Developer on behalf of the Association, ("the Subdivision Common Area") and levy
assessments for maintenance, repair, replacement and upgrading of any Subdivision Common
Areas and other requirements of the Association within the limits set out herein.
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6. Scope Of Activities And Budget. The Articles of Incorporation shall further
provide that the Association shall have the right to adopt and carry on budgets consistent with its
duties and obligations hereunder; to assess its members for pro-rata financial contributions
thereof; to have, impose and enforce the lien provided for herein; to secure and collect all such
members' assessments; have the right to receive from the Developer title to any and all
Subdivision Common Area within the Property; and when the Developer no longer owns any
portion of the Property, all rights of the Developer hereunder which have not already been
transferred to said Association shall thereupon pass to the Association without the necessity of
any further instrument of transfer or assignment. The Association may exist in perpetuity to
carry out these responsibilities provided, however, the Association may be dissolved after the
Bill of Assurance has expired or been terminated as provided herein.
7. Enforcement. Each Owner, by acquisition of any Lot within the Property, hereby
expressly vests in the Association the right and power to bring all actions against such Owner for
the collection of such charges and assessments as a debt and to enforce the aforesaid by all
methods available for the enforcement of such liens, including foreclosure, by an action brought
in the name of the Association in a like manner as a mortgage lien on real property. No Owner
may waive or otherwise escape liability for the charges and assessments provided for herein by
abandonment for such Lot.
- 8. Developer And Association Maintenance. The Developer shall transfer any
Common Areas established by the Developer to the Association. The Developer has created Lot
9B with the filing of this Declaration and will in the future create three other Lots to be platted as
Lots 9C, 9D, and 9E. Each Owner of each Lot when platted shall pay an equal share (twenty-
five percent (25%) of the costs of the Subdivision Common Area's maintenance, repair,
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replacement, and upgrade. Such costs shall be assessed and paid annually in advance on the first
day of the Association's fiscal year. Until all four lots are platted, the Developer shall be
obligated to pay the costs and assessments in excess of the twenty-five percent (25%) of such
assessment to be borne by each platted Lot. For new Owners, any annual fee shall be prorated
on a daily basis from the date of the new Owner's closing through the end of the Associations
fiscal year. The Association may also establish an assessment in excess of the expenditures for a
particular year and put any excess collected into a maintenance fund. The maintenance fund will
be used solely for improving, maintaining, replacing, or upgrading the Subdivision Common
Area in such a manner as is reasonably deemed necessary by the Association to maintain the
overall attractiveness and utility of the Subdivision Common Areas held by the Association,
including but not limited to the Private Roadway and monument signs, (if any), maintaining
liability insurance premiums attributable to such areas, paying utility bills associated therewith,
maintaining a reasonable fund for replacement, or for doing any other things necessary in the
reasonable opinion of the Developer or Association as the case may be for keeping the
Subdivision Common Areas as they are established in good repair and in good order.
9. Owner Maintenance. The mowing and trimming of the area for each Lot within
any public right-of-way or the unpaved portion of the Private Roadway easement (i.e. the
property between the edge of the pavement and the property line) shall not be deemed Common
Area but remain the responsibility of the Lot Owner as if the property line extended to the edge
of any pavement.
10. Assessments. (a) After Common Areas are initially developed, each annual
assessment for the reasonable and current ordinary expenses of improving, maintaining,
replacing, and upgrading such areas and/or for establishing any reasonable and ordinary
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maintenance fund shall be paid by the Owners according to the following formula: each Owner
of each platted Lot shall pay an equal and proportional share of twenty-five percent (25%) of the
annual assessment. The Developer shall pay on behalf of any still unplatted Property in the
Subdivision any share of the assessment not imposed on the Owners of platted Lots. That is
when Lot 9B is platted the Owner of Lot 9B will be responsible for twenty-five percent (25%) of
each assessment and the Developer as Owner of still unplatted portions of the Property will be
responsible for seventy-five percent (75%) of the assessment. After a second lot is platted, the
Developer will be responsible for fifty percent (50%). After a third lot is platted, the Developer
will be responsible for twenty-five percent (25%).
11. In the event that any Owner fails to maintain its Lot or that area of the public right-
of-way that is its responsibility for maintenance, then the Developer or Association, following
reasonable written notice, but not less than thirty (30) days written notice may perform the
necessary maintenance, and charge to that respective Owner the reasonable costs of such
maintenance work. This right of the Developer or Association shall be limited to the landscaping
and exterior housekeeping and shall not extend to any maintenance of buildings.
12. Any unpaid amount for the annual assessment for the Subdivision Common Areas
or for specific maintenance performed by the Developer or Association due to Owner's failure to
maintain its Lot shall become a lien against the Lot for which the Developer or Association may
bring an action at law against the Owner(s) obligated to pay the same, or initiate foreclosure
proceedings. All unpaid and past due obligations shall bear interest at the maximum legal rate
provided under the laws of Arkansas. However, the lien of the assessment provided for herein
shall be subordinate to the lien of any first mortgage. The sale or transfer of any Lot shall not
affect the assessment lien. The sale or transfer of any Lot pursuant to any mortgage foreclosure
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or proceedings in lieu thereof, shall not extinguish the lien of such assessments as to payments
which became due prior to such sale or transfer.
13. To the extent that it is an Owner of part of any Lots the Developer is responsible for
timely payment of its pro rata share of the annual assessment for maintenance of the Subdivision
Common Areas.
14. Term. The Covenants, Conditions, Restrictions and Reservations contained herein
shall continue in full force and effect until January 1, 2075, and shall thereafter be renewed
automatically from year to year unless and until terminated as provided in paragraph 14 hereof.
15. Termination And Modification. The Covenants, Conditions, Restrictions and
Reservations contained herein may be terminated, extended, modified or amended as to the
whole of the Property or any portion thereof, with the written consent of the Owners of seventy-
five percent (75%) of the Lots constituting the Property. Such termination, extension,
modification, or amendment shall be immediately effective on the recording of the proper
instrument in writing, executed and acknowledged by such Owners in the office of the Clerk and
Ex-Officio Recorder of Pulaski County, Arkansas. The Developer is aware of the decision in
Rausch Coleman Homes, LLC v. Brech, 2009 Ark. App. 225 and clarifies that it is the intention
of the Developer to allow amendments to the Bill of Assurance upon the written concurrence of
the Owners of seventy-five percent (75%) of the Lots constituting the Property such concurrence
evidenced by a filing in the real estate records of Pulaski County, Arkansas at any time.
Provided, however, no provision of the BOA may be modified, terminated amended, or canceled
prior to January 1, 2075 without the prior written consent of the Developer, as long as Developer
owns any part of the Property.
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16. Right To Enforce. The restrictions, covenants and obligations in the Bill of
Assurance run with the land, are binding upon the Developer, the Owners, and all parties,
persons, and entities claiming title to or an estate in any part of the Property described herein.
Moreover, any and all parties, persons and entities owning Property herein described, or any part
thereof, covenant and agree with all of the Owners of the Property hereby restricted and with the
heirs, successors and assigns and with each other, to conform to and fully observe all of the
Covenants, Restrictions, and Reservations herein contained. In furtherance of the above and
foregoing, the Developer and any Owners of any of the Property hereby restricted shall have the
right to sue for and obtain an injunction, prohibitive or mandatory, to prevent the breach of or to
enforce the observance of, the Covenants, Restrictions, and Reservations herein set forth, in
addition to ordinary legal action for damages. Successful enforcement shall entitle the
prevailing party to collect all attorney's fees from the offending party. The failure of the
Developer or any Owner to enforce any of the Covenants, Restrictions, or Reservations herein
contained at the time of its violation, shall in no event be deemed a waiver of the right to do so
thereafter.
17. Assignment Of Developer's Rights And Duties. Any and all rights, power and
reservations of the Developer herein contained may be assigned in good faith by the Developer
to any responsible person, corporation, or association committee who has a legitimate interest in
the subject matter thereof, which will assume any or all of the duties of Developer hereunder,
and upon any such person, corporation, or association's evidencing its consent in writing to
accept such assignment, and assignee shall, to the extent of such assignment, assume
Developer's duties hereunder, have the same rights and powers and be subject to, the same
obligations and duties as are given to and assumed by the Developer herein. Upon such
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assignment, and to the extent thereof, the Developer shall be relieved from all liabilities,
obligations and duties hereunder. The term "Developer" as used herein includes all such
assignees and their heirs, successors, and assigns. If at any time the Developer ceases to exist
and has not made such an assignment, a successor developer may be appointed by the Owners of
seventy-five percent (75%) of the Lots constituting the Property and upon compliance with the
requirements of paragraph 14.
18. No Waiver. All the Conditions, Restrictions and Reservations contained in this
BOA be construed together, but if it shall at any time be held that any one of said Conditions,
Covenants, Restrictions and Reservations, or any part thereof, is invalid, or for any reason
becomes unenforceable, no other Conditions, Covenants, Restrictions and Reservations or any
part thereof shall be thereby affected or impaired.
19. Owner's Liability Subsequent To Sale. Upon sale of a Lot or any unplatted
portions of the Property the Owner so selling shall not have any further liability for the
obligations thereon which accrue against such parcel sold after the date of the conveyance;
provided, however, that nothing herein shall be construed so as to relieve an Owner of any parcel
from any liability or obligation incurred prior to such sale pursuant to this Bill of Assurance.
20. Benefits And Burdens. The terms and provisions contained in this Bill of
Assurance shall bind and inure to the benefit of the Developer, the Owner, their respective heirs,
successors, personal representatives and assigns.
21. Notice. Any notices required or permitted herein shall be in writing and mailed,
postage prepaid by registered or certified mail, return receipt requested, and shall be directed as
follows: if intended for an Owner, to the single address supplied in writing by the Owner or
Owners (if more than one) to the Developer, failing which the notice shall be sent to one of the
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following in the following order of priority: (1) to the Lot if improved; (2) if the Lot is not
improved, to the address set forth in the purchase contract if it can be located; (3) none of the
foregoing, to the last known address of the Owner
22. Sinsular And Plural. Words used herein, regardless of the number and gender
specifically used, shall be deemed and construed to include any other number, singular or plural,
and any other gender, masculine, famine or neuter, as the context requires.
EXECUTED on the date first mentioned above.
PDC, LLC
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ACKNOWLEDGMENT
STATE OF ARKANSAS )
) "ss.
COUNTY OF PULASKI )
On the date set forth below, before me, a Notary Public, duly commissioned qualified and
acting, within and for said County and State, appeared in person the within named Eugene M.
Pfeifer, III, being the person authorized to execute the foregoing instrument, stating that he is the
Managing Partner of PDC, LLC, is duly authorized in this capacity to execute the foregoing
instrument for and in the name and behalf of said company, and further stated and acknowledged
that he had so signed, executed and delivered said foregoing instrument for the consideration,
uses and purposes therein mentioned and set forth.
IN TESTIMONY WHEREOF, I have hereto set my hand and official seal this 6day of
2017.
My Commission Expires:
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