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: A part of the North Half of the Southeast Quarter Of section 5, Township 13 North, Range 4 East, more particularly described as follows: Begin at a point 20 feet West of the Northeast corner of the North Half of the Southeast Quarter; thence South 593.5 feet: thence West 1182.2 feet; thence South 368.4 feet; thence West 615.2 feet; thence North 1.58' East 208.7 feet: thence West 440.3 feet to a point in the Easterly right of way line of State Highway No. 1: thence Northwesterly along said right of way line 738.5 feet to the centerline of said Section: thence East along the centerline of said Section 2325.9 feet to the point of beginning, containing 37.61 acres, more or less. Part of the Northeast Quarter of Section 5, Township 13 North, Range 4 East, more particularly described as follows: Beginning at the point of intersection of the East line of Highway No. I with the South line of the Northeast Quarter a distance of 1145.1 feet; thence run East along said South line of the Northeast Quarter a distance of 1145.1 feet: thence run North 534.6 feet: thence run West 1112.1 feet to a point in the East line of Highway No. 1 aforesaid; thence in a Southwesterly direction along said East line of Highway No. I to the point of beginning, LESS AND EXCEPT THE FOLLOWING TRACT: A part of the West Half of the Northeast Quarter of Section 5 aforesaid, being more particularly described as follows: Begin at the Quarter Section Corner of Sections 4 and 5, Township 13 North, Range 4 East: thence South along the Section line 4.5 feet; thence South 881381 West 1199.7 feet; thence North 01121 West 533.6 feet; thence South 881321 West 1104.2 feet to the East right of way line of Arkansas State Highway No. 1, the point of beginning proper: thence North 88*321 East 685.0 feet: thence South 11281 east 270 feet: thence South 88"321 West 718.0 feet, more or less, to the East right of way line of Arkansas State Highway No. 1: thence in a Northeasterly direction along said East right of way line 272.3 feet to the point of beginning proper. 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 CLUB PLACE.,

1. The zoning for Club Place is R-3. This requires a minimum 7.5 foot sideyard requirement and a minimum 20 foot setback.
2. Lots 1, 127, 116, 115, 103, 104, 92, 91, 19, 30, 31, 42, 62, 56, 57 will be considered as corner lots and 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 will be required to fence side where driveway does not enter.
5. Lots 1, 123, 124, 125. 126, 127, 56 and 57 (which face Hwy. 1 and Carawa.y Road) will require fencing.
6. All driveways on Craighead Forest Road will be on the east side of the lot. All driveways on Sanderson will be on north side of the lot. All driveways on Big John's Place, Sam's Places and Victoria Watt's Place will be on the south side of the lot. All driveways on Golf Course Drive will be on the west side of the lot. All driveways on John Cones Place must be approved in writing by Arns, Inc. No driveways may be side by side unless agreed upon in writing by Arns, Inc.
7. Detached screened in porches will be prevalent.
8. All homes will have winding front sidewalks.
9. 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 advertising on the property during the construction or sale period with the exception of subdivision advertising by Arns, Inc. such as entrance billboards.
10. 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.
11. An accessory building may occupy ten 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.
12. Arns, Incorporated will retain architectural control of all exterior colors and materials.
13. This property may not be subdivided unless approved in writing by Arns, Inc.
14. 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 houses shall be used as a residence.
15. Lots 63, 64, 65, and 66 will not be affected by this Bill Of Assurance. Any use other than for single family homes will require prior approval Of Arns, Inc.
16. No multi-family dwelling such as a duplex or a triplex will be allowed without prior written approval from Arn's 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 single family housing.
17. 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 a any plans specifications, exterior color schemes or plot plans submitted to them as herein required within 30 days after such submission, this covenant shall be deemed to have been met fully.
18. 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 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 4eemed covenants running 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.
19. In the event that any of the provisions of this Bill-of Assurance shall be different from the requirements of any zoning ordinance now in effect or hereafter enacted, then this Bill of Assurance shall be considered to be amended to conform to the requirements of such zoning ordinance where said requirements shall impose a greater limitation than is herein 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.
20. Invalidation of any restriction set forth herein or any ,part thereof by order, judgement or decree of any court or otherwise shall 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.
21. Each home will have brick or masonry front with vinyl siding on all other exterior areas to provide for maintenance free exterior. Lots 1, 127, 11 6, 115, 103, 104, 92, 91, 19, 30 31, 42, 62* 564 and 57 will have brick or masonry on sides facing streets. All homes will have a dimensional asphalt shingle. No building structure may be closer than 7 1/2 feet from any side yard line unless the board of zoning and adjustment would allow.
22. All plans must be approved by Architectural Control Committee or plans must be furnished by Arns, Incorporated.
23. On all homes in Club Place, all parking pads must extend at least 201 beyond rear of home where no garage is being built with the exception of homes in the coves where setbacks may require alternatives. All parking, carports or garages must be in rear of primary dwelling unless otherwise agreed upon in writing by Arns, Inc.
24. 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 sub- division will create and maintain value for all homes in Club Place.
25. On lots of 9,000 square feet the minimum building square footage will be 1200 square feet. The minimum square footage on a principle dwelling will be 950 square feet on lots 9000 square feet or less.
26. These covenants shall be in full force and effect until January 1, 2031, subject to amendments, Modifications or cancellation as herein above provided. That, Arns, Incorporated, for the purposes and considerations herein above contained and expressed, do hereby join in the Bill of Assurance.

WITNESS our hands, this September 19th, 1991.