That Arns, Incorporated, owner of the property hereinafter described, do hereby desire to place upon the following described property located in Craighead County, Arkansas, to wit: Lots 1-93 Cayman Place, Jonesboro, AR. certain restrictions and said property shall be held, owned and conveyed, subject to and in conformity with the covenants, subject only to amendment or cancellation as hereinafter provided. Said addition shall be known, designated and hereafter referred to as CAYMAN PLACE.

1. The zoning for Cayman Place is R-3. This requires a minimum 7.5 foot sideyard requirement and a minimum 20 foot setback except on certain lots in Khaki's Place and Missy’s Cove which require a 30 foot setback and along the South side of Caribbean Place where there is a 40 foot setback
2. Corner lots will require additional wooden fencing to provide for master planned appearance.
3. No noxious or offensive activity shall be carried on upon said property nor shall anything be done thereon which may be or may become an annoyance or nuisance to the neighborhood.
4. No chain link fence shall be placed upon this property without the consent in writing of the owners herein above named. All fences must be wooden unless concealed by wooden fencing. No fences except decorative fences shall come closer to the street than the front corners of the home. All corner lots win be required to fence side where driveway does not enter.
5. No driveways may be side by side unless agreed upon in writing by Arns, Inc.
6. No sign of any kind shall be displayed to public view on said property, with the exception that a single sign shall be permitted of no more than five square, feet in area on the property during the construction or sale period with the exception of subdivision advertising by Arns, Inc. such as entrance billboards.
7. No livestock or any description shall be kept on the property or any part hereof, except household pets and domestic animals which are not ordinarily kept for commercial purposes.
8. An accessory building may occupy the percent of the gross lot area, but must be built not less than 10 feet from any adjoining building and except for attached garages, must be built to the rear of the principal building.
9. Arns, Incorporated will retain architectural control of all exterior colors and materials.
10. This property may not be subdivided unless approved in writing by Arns Inc.
11. No trailer, basement, tent , shack, garage, barn or other temporary or permanent structure at any time erected on said property, other than the principal dwelling house, shall be used as a residence.
12. No multi-family dwelling such as a duplex or a triplex will be allowed without prior written approval from Arns Inc. Approval may be given for the handicapped or the elderly needing to live near assistance. Any approval will be given serious consideration but may not affect the overall integrity of the subdivision which is designed for master planned
13. No building shall be erected placed or altered on this property until the building plans, specifications, exterior color scheme, and plot plan showing the location of such building with respect to existing topography and finished ground elevations have been approved in writing by the owners herein above named. In the event the owners fail to approve or disapprove any plans, specifications, exterior color schemes or plot plans submitted to them as herein required 30 days after such submission, this covenant shall be deemed to have been met fully.
14. Any and all of the covenants, provisions, or restrictions set forth in this Bill of Assurance may be amended, modified, extended, changed or canceled, in whole or in part by a written agreement signed and acknowledged by the grantors herein (owners herein above named) and the then current owners of the property; and the provisions of such instrument so executed shall be binding from and after the date it is duly filed for record in the office of the Circuit Clerk in Jonesboro, Craighead County, Arkansas. The covenants, restrictions, and provisions as contained in this Bill of Assurance shall be deemed covenants with the land and shall remain in full force and effect unless and until amended or canceled as herein provided. Amendments may be made by Arns, Inc. to this Bill of assurance for a period of 12 months following the recording of this document to correct or improve the intent of this Bill of Assurance.
15. In the event that any of the provisions of this Bill of Assurance shall be considered to be amended to conform to the requirements of such zoning ordinance where ordinance where said requirements shall impose a greater limitation than is herin contained. However, if the provisions of this Bill of Assurance shall impose greater limitations than those contained in such zoning ordinance, then the provisions herein shall control.
16. Invalidation of any restriction set forth herein or any part thereof by order, judgment or decree of any court or otherwise does not invalidate or affect any of the other restrictions in whole or in part as set forth herein said remaining restrictions to stay in full force and effect.
17. No building structure may be closer then 7 1/2 feet from any side yard line unless the board of zoning and adjustment would allow.
18. Each home will have brick or masonry front vinyl siding or maintenance free exterior on all other exterior areas to provide for maintenance free exterior Corner lots will be required to have masonry front on each side facing street.
19. All plans must be approved by Architectural Control Committee or plans must be furnished by Arns. Incorporated.
20. Regardless of interpretations, the conditions allowed for in this Bill of Assurance are to protect the integrity of the subdivision by providing for more than one builder to build within the subdivision while maintaining a master planned concept for the entire area such as set backs, plans, exterior materials and fencing. Homogeneous type construction within the same subdivision will create and maintain value for all homes in Club Place.
21. One home will be designated as a model home, construction and real estate office to be used to house Kent Arnold companies during the duration of construction and sale of lots and homes.
22. These covenants shall be in full force and effect until January 1, 2035, subject to amendments, modifications, or cancellation as herein above provided.

That, Arns, Incorporated, for the purposes and considerations herein above contained and expresses, do hereby join in the Bill of Assurance.

WITNESS our hands, this August 1,1995.