Bill of Assurance

WHEREAS, Kent E. Arnold and Jeanne Arnold are the owners of the land in the Western District of Craighead County, Arkansas, more particularly described as:

All of Block C and a part of Block B, D, and E in the Oak Meadow Condominiums Horizontal Property Regime, the same being situated in the Southeast Quarter of the Northeast Quarter of Section 20, Township 14 North, Range 4 East of the 5th Principal Meridian in Craighead County, Arkansas, all more particularly described as follows: From the Southeast Corner of the Southeast Quarter of the Northeast Quarter of said Section 20; thence North 88°31' West 970.0 feet along the South line of the Southeast Quarter of the Northeast Quarter of said Section 20 to a point; thence North 01°18' East 600.0 feet along the East line of Block A of the Oak Meadow Condominium Horizontal Property Regime to a point; thence South 89°31' East 320.0 feet along the South line of Blcoks A and B of the Oak Meadow Condominium Horizontal Property Regime to the Southest Corner of said Block B; thence North 01°18' East 162.60 feet along the East line of said Block B to the point of beginning; thence North 89°30'40" West 96.70 feet to a point on the ring of way of Oak Meadow Drive; thence Southeasterly 29.24 feet to a point on the centerline of Oak Meadow Drive extended along said right of way along a curve to the right, said curve having a central angle of 33°30'10" and a radius of 50.00 feet; thence North 89°30'48" West 365.0 feet along the centerline of Oak Meadow Drive to a point on the centerline of Oak Meadow Boulevared; thence North 01°18'00" East 83.42 feet along the centerline of Oak Meadow Boulevard to the beginning of a curve to the right; thence Northeasterly 94.72 feet along said centerline along a curve to the right; said curve having a central angle of 45°22'04" and a radius of 119.62 feet; thence North 46°40'04" East 169.07 feet along the centerline of said Oak Meadow Boulevard to a point; thence North 43°19'56" West 128.62 feet to a point; thence North 89°26'48" West 100.00 feet to a point on the west line of Block D of Oak Meadow Condominium Horizontal Property Regime; thence North 01°32'23" East 202.65 feet to eht Northwest Corner of the Oak Meadow Condominium Horizontal Property Regime; thence South 89°26'48" East 486.60 feet to the Northeast Corner thereof; thence South 01°18'00" West 552.52 feet to the point of beginning, containing some 5.621 acres, more or less, subject to the rights of way of Oak Meadow Drive and Oak Meadow Boulevard.

NOW THEREFORE, Kent E. Arnold and jeanne Arnold, herinafter called Grantor, for and in consideration of the benefits to accrue to them which are hereby acknowledged to be of value, has caused to be made and filed a plat showing the survey made by Mulhollen & Associates, Inc., Registered Civil Engineer-Surveyors, and signed by Dan Mulhollen, Registered Land Surveyor, said plat being recorded in Plat Cabinet B page 52, showing the bounds and dimensions of the property being subdivided into lots and descriptions by lots and street; and said Grantor hereby dontates and dedicates to the public forever an easement of way on or said streets as shown by said plat to be used as public streets.

The filing for record of the Bill of Assurance and plate in the office of the Circuit Clerk and Ex-Ossicio recorder of Craighead County, Arkansas, at Jonesboro, Arkansas, shall be a valid and complete delivery and dedication of the streets and easements, subject to the limitations herin set out.

The lands embraced in said plat shall be forever be known as Oak Meadow Collection, and any and every deed of conveyance for any lot in said subdivision describing the same as identified on the plat shall always be deemed a sufficient description thereof. The subdivision shall also be publicly known and identified as "Oak Meadow Collection."

All lots in said addition and any interest therein shall be held, owned, and conveyed subject to and in conformity with the following covenants which said covenants shall be in full force and effect until December 28, 2015, subject to amendment or cancellation as herinafter provided, to wit:

1. LAND USE AND BUILDING TYPE: Said lots shall be held, owned, and used only as residential building sites. No structures shall be erected, altered, placed or permitted to remain on any building site other than one detached or attached single-family dwelling not to exceed three stories in height, a private garage for not more than four cars, and other outbuildings incidental and related to residential use on the premesis.
2. ARCHITECTURAL CONTROL: All attached or detached homes as well as all other improvements in Oak Meadow Collection shall conform as best possible to the existing improvements already constructed and known as Oak meadow Horizontal Property Regime. All units or homes shall be constructed with brick or stone fronts. All units or homes shall have a wrought iron security door installed on the front of each home or unit. Each unit or home shall also have a mailbox installed comparable to the ones presently installed in Oak Meadow Horizontal Property Regime. All utilities must be underground. Kent Arnold shall have complete architectural control. All single family homes on Lots 2 through 10 shall be built along a french design.
3. MINIMUM PRINCIPAL DWELLING SIZE: The minimum square feet floor of any dwelling constructed on said lots shall be not less than 1000 square feet of floor space for an attached dwelling and 1200 square feet of floor space for a detached dwelling. In all cases the minimum square feet floor area of ground floor area or total floor area referred to shall be exclusive of attics, eave over-hang, attached porches, patios, carports, or garages (whether or not attached), porte-cocheres, underground basements, storeroom, or outbuildings.
4. BUILDING LOCATION: Buildings shall be located within the building set back lines as shown on plat.
5. FENCES: All fences shall be six foot wooden fences unless approved by Kent Arnold. No chain link fences may be permitted unless hidden from view of the street and others by a six foot wooden fence unless approved by Kent Arnold.
6. NUISANCES: No noxious or offensive activity shall be carried on upon any lot, nor shall anything be done thereon which may be or may becore an annoyance or nuisance to the neighborhood. Barking of dogs ecessively or between 10:00 p.m. and 8:00 a.m. shall be considered a nuisance.
7. TEMPORARY STRUCTURES: No trailer, basement, tent, shack, garage, barn or other outbuilding erected on a building site covered by these covenants shall be used at any time for human habitation.
8. SIGNS: No sign of any kind shall be displayed to public view on any building site except one sign shall be permitted of not more than five (5) square feet in area advertising the property during the construction or sales period.
9. ANTENNAS: All satellite antennas, and other large antennas must be placed to the rear of the home. In addition, they must be hidden by fencing or landscaping.
10. LIVESTOCK AND POULTRY: No animals, livestock, or poultry of any kind shall be raised or kept on any building site, except that dogs, cats, or other household pets may be kept, provided that they are not kept or maintained for any commercial purpose. All pets must be kept in the owner's unit or when outside must be on a leash or confined in some manner; they will not be allowed on a neighbor's property or to infringe in any way on the right of the other owners; and no vicious pets of any nature will be allowed/
11. MOBILE HOMES, CAMPERS, BOATS: No mobile homes, camper, or self-propelled mobile home and/or camper and no boat of other watercraft shall be parked on any of said residential lots herein described for a period greater than one (1) week unless same shall be in a garage or carport or in rear of building hidden from view.
12. PROPERTY LINES AND BOUNDARIES: Iron pins have been set on all lot corners and points of curve, and all lot dimensions shown on curves are curve distances, and all curve data shown on the attached plat is centerline curve data. In the event of minor discrepancies between the dimensions or distance as shown on the attached plat and the actual dimensions or distances as disclosed by the established pins, the pins as set shall control.
13. AMENDMENTS: Any or all of the covenants, provisions, or restrictions set forth in this Bill of Assurance may be amended, modified, extended, changed, or cancelled, in whole or part, by a written agreement signed by each and every property owner of the individual lots in Oak Meadow Collection. The provisions of such instrument so exxecuted shall be binding from and after the date it is duly filed for record in the office of the recorder of deeds and mortgages in and for Craighead County, Arkansas, in Jonesboro, Arkansas.
14. MAINTENANCE FEES: Each owner and/or future owner of property or units in Oak Meadow Collection shall:
    1. Pay a monthly fee to the Board of Administration of Oak Meadow Condominiums Horizontal Property Regime or approved property association for (a) grounds, pool, and tennis courte maintenance; and (b) electric, water, etc. Said fee must be approved by the owner or owners of Oak Meadow Collection.
    2. Have use of the pool, tennis court, and also the clubhouse when one is constructed but must obey any and all regulations relating to same.
    3. Be Responsible for maintaining their own underground utilities--sewers, cable TV, electric, etc.
    4. Be responsible for insuring their individual property or unit, paying all taxes on their unit, maintaining the outside of their house or unit, including painting, maintaining driveways and walkways, and keeping same in a safe and decent manner.
    5. Not operate a business of any nature from the premises which requires an inventory and no business signs shall be allowed.
    6. Not keep garbage cans or other material in fron of their unit, except on days the city picks up the garbage.
    7. All monthly assessment and any special assessments made against the property owners shall be seperate, distinct and personal debts and oblications of the said owner and shall be a lien upon the lot of the owner owing such assessments upon recordation for a notice of assessment thereof. The lien for nonpayment of common expenses and assessments shall have priority over all other liens and encumbrances recorded or unrecordded, except only: (a) Assessments, liens and charges for taxes past due and unpaid on the lot; and (b) Payments due on bona fide first real estate mortgages or deeds of trust liens or vendor's liens on said lot property recorded prior to the date of notice of lien for such assessments is recorded.
15. ZONING ORDINANCE CONFLICTS: 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 the Bill of assurance shall impose greater limitations that those contained in such zoning ordinance, then the provisions herein contained shall control.
16. ENFORCEMENT: In the event of any attempt to violate any of the covenants, restirctions, or limitations herin before the expiration date hereof, it shall be lawful for any person or persons owning a lot or lots in said addition to prosecute any proceeding at law or in equity against the person or persons violating or attempting to violate any such covenant or restriction, and either to prevent him or them from doing so or to recover damages or other dues for such violation.
17. SEVERALBILITY: The invalidation of any one of these convenants or restiriction by judgement or court order shall in no way offset any of the other provisions which shall remain in force and effect.

WITNESS the hand and seal of the Grantors on this 21st day of June, 1988.