THIS DECLATION OF DOCUMENTS AND RESTRICTIONS is made this ______day of July, 2004 by Platinum Peak Estates, LLC hereafter referred to as “Declarant”.
WHEREAS, Declarant is the owner of certain real property situated in Van Buren County, Arkansas, known as Platinum Peak Estates Subdivision, more particularly described on the attached “Exhibit A” which is incorporated herein by reference. 
WHEREAS, Declarant has caused the Property to be surveyed and divided into forty-nine (49) lots, rights-of-way, and common areas, by Roberson Surveying and Mapping pursuant to a survey (“Survey” and sometimes referred herein as “Plat”) titled Platinum Peaks, Van Buren County, Arkansas, dated Dec 2003 (consisting of one sheet).  It is the intention of the developer to sell the lots by metes and bounds description with a plat of each individual lot filed of record at the time of sale.
WHEREAS, Declarant is in the process of developing the Property.  The Subdivision will consist of lots (the “Lots”, sometimes separately referred to as a “Lot” and shall mean and refer to any plot of land shown on the Survey and all improvements thereon, with the exception of any common areas, road, easements, and other rights-of-way shown on the Survey), to be used for the construction and occupancy of detached single-family residences, subject to the provisions of this Declaration and other matters of record, for the benefit of the Subdivision.
WHEREAS, Declarant desires to subject the Lots to the covenants, restrictions, conditions, and easements, hereafter set forth to insure the development of the Lots as a highly desirable residential area, to promote internal harmony and architectural excellence within the Subdivision, to preserve the natural attributes of the land, to prevent the construction, installation or maintenance of any undesirable use or improvement, in a manner consistent with high environmental, aesthetic and residential standards.
NOW, THEREFORE, Declarant hereby declares that the Subdivision, including each Lot in the Subdivision, shall be held, transferred, sold, conveyed, leased, used and occupied subject to the following covenants, restrictions, conditions, and easements, each of which is for the benefit of, and shall run with and bind, each Lot and each person having any right, title or interest in any Lot, including, without limitation, each Owner (which shall mean and refer to the record owner, whether one or more persons or entities, of a fee simple title to any Lot which is a part of the Subdivision) and occupant, and the heirs, personal representatives, successors and assigns of any such person.
Section 1.  Preservation of Natural Features.  It is the intent of the Architectural Review Committee to ensure preservation of the natural features of each Lot to the greatest extent possible.  Consequently, a great deal of importance will be placed during the approval process on ensuring that the natural site characteristics of each particular home site are well integrated into the architectural and site plan design.  Every effort shall be made to preserve the natural topography, slopes, woods, groves of trees and all other desirable natural features through skillful and appropriate design, placement and construction of the residences and related improvements.
Section 2. Architectural Review Committee.  No residence or other improvement shall be installed, constructed, reconstructed or maintained on any Lot, nor shall any addition or alternation be made relative to the exterior appearance of any improvement or landscaping, until detailed building and site plans have been submitted to and approved by the Architectural Review Committee (the “Committee).  The Committee shall, initially, be composed of the Declarant.  At such time as all of the Lots have been sold and residences have been constructed thereon the Committee will resign and delegate and assign the power of appointment with regard to the members of the Committee to the Board of Directors of the Association (defined herein); provided that Declarant may, at its sole discretion, make such delegation at an earlier time.  Neither Declarant nor any member of the Committee shall have any liability whatsoever to any person in connection with the approval or disapproval of any plans or specifications in regard to any improvement.
Section 3.  Architectural Approval Procedure.  No tree removal, excavation or construction shall be performed on any Lot until detailed building plans, site plans and specifications for any proposed improvements have been submitted and approved in writing by the Committee.  Submittal and review procedure shall be followed for obtaining approval of the Committee for any new residence or substantial improvement on any Lot as follows:
1)                  A copy of preliminary plans and specifications shall be submitted to the Committee for preliminary review and approval including the following:
A.      A floor plan.
B.     A site plan locating the proposed residence, driveway, septic tank, leach fields, lamppost, pool and any other improvements on the topographical site survey with proposed grades indicated.
C.     Exterior elevation drawings for all sides of the proposed residence.
D.     An indication of the exterior materials and colors to be used to construct the proposed residence.
E.     Any other data, drawings or specifications, which the Committee deems necessary to fulfill the architectural, review process.
Section 4.  Validity of Approval.  No approval of the Committee shall be deemed to have been obtained for any improvement that violates any restriction set forth in this Declaration unless the Committee, for that specific restriction, specifically grants a variance, in writing.  Approval by the Committee does not constitute a waiver of any provision of zoning or building ordinances or codes.
Section 5.  Approval / Disapproval.  All documentation delivered for architectural review shall become the property of the Committee and shall be retained as a permanent record.  The Committee shall have 45 days from and after receipt of the required documentation which receipt shall be in writing, to approve or disapprove the design, plans and specifications.  No change may be made in any approved design, plans or specification without prior written consent of the Committee.  In the event that the Committee fails to respond within 45 days after the full proper and complete submission of materials required for approval evidenced by acknowledgement of delivery of such materials, that approval shall be deemed to have been granted, with all other restrictions, limitations and conditions set forth in this Declaration remaining in full force and effect.
Section 1.  Permitted Use.  Each Lot shall be used for single-family residential purposes only.  No structure shall be erected, altered, placed or permitted to remain on any Lot other than one single-family residential dwelling with an attached garage for the sole use of the Owner/ Occupant of the Lot.
Section 2.  Floor Area.  The minimum livable floor area for each residence built on a Lot shall be fifteen hundred (1,500) square feet.  As used herein, the term “livable floor area” shall not be deemed to include basements or unfinished attics, garages, patios, decks, open porches, terraces, or like area, even if attached to the dwelling.
Section 3.  Exterior Materials.  Eighty percent (80%) of the visible exterior of each residence and appurtenant structures shall be constructed of brick, natural stone, wood siding, and cement siding.  Any deviation from this requirement shall be allowed only with the express written consent of the architectural control committee.  All siding shall be comprised of individual boards and not sheets such as Texture 1-11.  No used material except reclaimed brick may be used in the construction of any visible exterior wall.  The use of exposed cement block, slag, cinder block, imitation brick, or asphalt on any visible exterior wall is expressly prohibited.
Section 4.  Driveways.  All driveways and driveway approaches shall be paved with asphalt, brick pavers, concrete or other approved paving materials.  Driveways shall be completed prior to occupancy of the residence except to the extent delayed by adverse weather conditions, in which event such paving shall be complete within thirty (30) days after termination of such adverse weather conditions.
Section 5.  Culverts.  Driveway culverts shall extend four feet beyond the driveway.  Each homeowner shall conceal the culvert end openings with stone of size and color specified by the Declarant to insure a pleasing, consistent appearance throughout the development.
Section 6.  Lawn Areas.  All areas of a residential home site not landscaped with plant materials or maintained as natural areas shall be established and attractively maintained as lawn areas by sodding or hydoseeding.  Lawn or landscaped areas shall be extended and maintained to the edge of the pavement along all Lot boundaries.
Section 7.  Walls and Fences.  No fence or wall of any type shall be permitted to extend beyond the front of the house, except ornamental or decorative fences not to exceed two and one half (2-1/2) feet.  Rear yard fencing for purpose of Lot enclosure may be used but not to exceed four (4) feet in height.  No wood privacy fencing or chain link fencing may be used for purpose of Lot enclosure.  Individual wood picket fencing may be used if constructed with visible spacing and left natural or stain preserved (but not painted).
Section 8.  Swimming Pools.  All swimming pools shall be in-ground only.  Mechanical equipment shall be concealed from view.
Section 9.  Air Conditioners.  No external air conditioning unit shall be placed in or attached to a window or wall of any residence or appurtenant structure.  No compressor or other component of a heat pump/central air conditioning system shall be visible from any adjacent street, and to the extent reasonably possible, all such external equipment shall be so located on any Lot so as to minimize the negative impact thereof on any adjoining Lot, in terms of noise and appearance.
Section 10.  Septic Tank.  Each Lot owner for the Residential Unit shall be responsible for installing an underground septic system (“Residential System”).  The Residential System shall meet or exceed the requirements promulgated by the Committee, or if the Committee is no longer in existence or active, the Board of Directors of the Association (defined in Article IV).  Once installed and accepted by the Association, the Lot owner shall be responsible for maintaining the Residential System.  Declarant hereby grants and conveys to the Association an easement over the lots to inspect, maintain, repair and replace such Residential Systems, should Lot owner fail to perform such duties.  All cost incurred by the Association shall be recovered from the Lot owner once work has been performed.
Section 11.  Minimum Lot Size.  No Lot shall be subdivided into a smaller lot.
Section 12.  Timely Completion.  The exterior of all residences and other structures must be completed as soon as practical after construction commences, and in any event within eighteen (18) months after commencement of construction.
Section 13.  Animals.  No animals, livestock, or poultry of any kind shall be raised or kept on any Lot except for dogs, cats or other household pets, provided that they are not kept or maintained for commercial purposes.
Section 14.  Temporary or Accessory Structures.  No structure of a temporary character, trailer, detached garage, barn, storage shed, tent or outbuilding may be placed, used or occupied on any Lot, either temporarily or permanently, except that tents for entertainment purposes may be erected for periods not to exceed forty-eight (48) hours.  Permanent swimming pool bathhouses and detached garages that are architecturally compatible with the primary residence may be permitted provided that the Committee has approved plans for such.
Section 15.  Storage of Vehicles.  All vehicles, including without limitation, automobiles, permitted trucks, garden tractors, motor homes, recreational vehicles and utility trailers of the owners are to be parked in paved off-street parking areas and no such vehicle shall be parked otherwise than temporarily in any part of the yard or on the street.  In addition to the foregoing requirements, all motor homes and/or recreational vehicles and garden tractors shall be parked either in an enclosed garage or within the rear yard area shielded from adjoining Lots and the street by a privacy fence, hedge, or other suitable planting; subject to the approval of the Committee.
Section 16.  Antennas.  No exterior radio, television or other communication antenna of any type exceeding twenty-four (24) inches in diameter or height may be erected, placed, maintained or permitted to remain on any Lot.  The location of any permitted antenna up to twenty-four (24) inches in height or diameter shall be behind the residence or in dwelling attic space.
Section 17.  Outdoor Play Sets.  Permanent outdoor playground equipments shall be primarily of wood construction and shall be located in the rear yard areas of residences so as not to be visible from roadway areas.
Section 18.  Easements.  Easements for the construction, installation and maintenance of public utilities, for surface and road drainage facilities are reserved as shown on the recorded Survey of the Subdivision.  In addition to those easements shown and for the same purpose is reserved a 10’ easement along all front, back and side lot lines. Landscaping and plantings shall be allowed within easements to the extent that they do not interfere with reasonable and necessary access for the installation and maintenance of the utilities and facilities located within such easements.  No building, wall, fence or any other permanent structure shall be constructed on any easement nor shall any grading be done to restrict water flow in any drainage easements.  Driveways shall not be considered structures for the purpose of this restriction.
Section 19.  Underground Utilities.  All public utilities such as water mains, electric, cable television, and telephone local subdivision distribution lines, and all connections to such facilities, either private or otherwise, shall be installed underground; provided, however, the above ground transformers, pedestals and other above ground electric, cable television, LP gas or telephone equipment deemed necessary by the supplier of any such utility service in connection with underground distribution systems shall be permitted.  Each Owner shall be responsible for the installation, maintenance, repair, and replacement of electrical, LP gas, telephone, and cable television service conductors and facilities on such Owner’s Lot, extending from the adjacent street right-of-way, or utility easement on such Lot, to the residence.  LP gas tanks shall be appropriately secured as determined by the Committee.
Section 20. Signs.  No billboard, poster, signs or object of unsightly nature shall be placed or permitted to remain on any part of any Lot, except one sign per Lot not to exceed five (5) square feet in area to advertise property for sale, or signs used by builders to advertise the property during construction and sales period.
Section 21.  Sewage Disposal.  The Arkansas Department of Health has approved the Subdivision for on-site sewage disposal systems.
Section 22.  Right-Of-Way.  Declarant hereby retains a sixty (60) foot road right-of-way along the Property, consistent with the Survey recorded herein and said road right-of-way may be dedicated to the County, once the road has been built to County specifications, after which time the County shall maintain said road.  Declarant and Declarant’s Appointees shall also have the right to install and maintain utilities in said road right-of-way and the common areas so designated and to add, maintain and replace said utilities in the road right-of-way and common areas.
Section 23.  491 MSL Contour.  No structure for human habitation shall be constructed below the 491.0’ elevation mean sea level (MSL) contour line.
Section 1.  Accountability.  Prior to start of construction of a residence or other substantial improvement, each Owner shall provide his or her builder with a copy of the Declarations of Restrictions, and each Owner shall be held responsible for having his or her builder adhere to these Construction Regulations and other applicable provisions of this Declaration which are regulated by construction activities.
Section 2.  Lot Clearing.  Trees that have been approved for removal must be clearly marked and the builder/construction workers must not remove or otherwise damage trees not marked for removal.
Section 3.  Portable Toilet.  The builder shall provide a portable toilet at the job site located so as not to be visible from the road until such time as the plumbing of the residence is in working order.
Section 4.  Construction Area.  All construction activity and disturbance, including access by construction vehicles and equipment shall be confined to the boundaries of the construction area for the home site under construction.  Adjacent home sites may not be used for parking, storage or access.
Section 5.  Cleanliness.  Throughout the course of construction, the job site shall be maintained in a clean and orderly manner.  The road surface in the vicinity of the job site shall be kept clean of mud, trash and debris at all times.
Section 1.  Membership.  Each person or entity who is a record Owner of any of the Property which is subject to assessment by the Platinum Peak Estates Property Owners Association (“Association”) shall be a member of the Association.  The foregoing is not intended to include persons or entities that hold an interest merely as security for the performance of an obligation.  No Owner shall have more than one membership.  Membership shall be appurtenant to and may not be separated from ownership of the land that is subject to assessment by the Association.
Section 2.  Voting Classes.  The Association shall initially have two classes of voting membership:
            Class A.  Class A members shall be Owners with the exception of the Declarant (except as hereinafter provided) and shall be entitled to one vote for each Lot owned.  When more than one person owns an interest in any Lot, all such persons shall be members.  The vote of such Lot shall be exercised as the persons among themselves determine, but in no event shall more than one vote be cast with respect to each Lot.
            Class B.  The Class B member shall be the Declarant and shall be entitled to three (3) votes for each Lot.  Class B membership shall cease and be converted to Class A membership on the earlier of the following dates:
(a)   The date on which the total outstanding votes in the Class A membership equal or exceed the                total available votes in the sum of Class B memberships; or
(b)   January 1, 2007.
Section 1.       Creation of the Lien and Personal Obligation of Assessments.
Annual assessments and special assessments are to be established as hereinafter provided.  For each Lot Owner, Owner by acceptance of the deed for said Lot or Residential Unit deemed to covenant and agrees to pay annual and special assessments to the Association, whether or not it shall be so expressed in such deed.  Declarant shall not pay annual assessments or special assessments to the Association, except on a voluntary basis; provided, however, Declarant shall be responsible for the cost and expense of maintenance and upkeep of any Common Areas and Common Facilities until December 21, 2004.
The regular and special assessments, together with interest, penalties, costs, and reasonable attorney’s fees, shall be a charge on the land and shall be a continuing and contractual lien upon the Lot against which each such assessment is made.  Each such assessment, together with interest, penalty, costs and reasonable attorney’s fees shall also be the personal obligation of the person who was the Owner of such Lot at the time when the assessment became due.  The personal obligation for delinquent assessments shall not pass to the Owner’s successors in title unless expressly assumed by them, provided that they shall continue to be a lien on the Lot until satisfied.
Section 2.       Purpose of Assessment.
The assessments levied by the Association shall be used exclusively for the community, civic and social welfare and benefit of the Property and the Owners, for the purpose determined by the Association to be appropriate in accordance with its Articles of Incorporation and By-Laws, which may include, but is not required to include: sewer services; improvement and maintenance of the Common Areas; boat access roads; boat docks, boat dock parking areas; boat dock utilities; and other services, facilities, and activities that may be in the community’s interest.
Section 3.       Amount of Annual Assessment.
The amount of the annual assessment shall not exceed $600.00 per Lot, which shall be payable on January 1 of each year.  On any sale of a new Lot by Declarant, the Owner shall pay such assessment in advance of the date of conveyance to such Owner with the amount to be prorated based upon the number of months from the month of the conveyance to January 1.  Prior to the initial sale of a particular lot, Declarant may establish an annual assessment in excess of the above amount which additional assessment shall be evidenced by the filing of supplementary declarations of covenants, conditions and restrictions.  The maximum annual assessment may be increased above the rate specified above by a vote of a majority of the votes of members entitled to vote in person or by proxy, at a meeting duly called for such purpose.
From and after January 1, 2005, the maximum annual assessment may be increased each year above the maximum assessment for the previous year by a majority vote of the Board by the percentage change by which the Consumer Price Index (for the area in which Little Rock, Arkansas is located, for all items, issued by the Bureau of Labor Statistics of the United States Department of Labor), for the immediately preceding calendar year exceeds such index for the calendar year prior thereto or by 5%, whichever is greater.  If the publication of such Index is discontinued comparable statistics on the cost of living for the area in which the City of Little Rock is located, as they may be published by any other agency of the United States, shall be used.
Section 4.       Notice and Quorum For Any Action Authorized Under Section 3 and 4
Written notice of any meeting called for the purpose of taking any such action authorized under Section 3 hereof shall be sent to all Members not less than thirty (30) days nor more than sixty (60) days in advance of the meeting.  At the first meeting called, the presence of Members or of proxies entitled to cast sixty percent (60%) of all the votes of each class membership shall constitute a quorum.  If the required quorum is not present, another meeting may be called subject to the same notice requirement, and the required quorum at the subsequent meeting shall be one-half (1/2) of the required quorum at the preceding meeting.  Subsequent meetings can continue to be called in the aforesaid manner with the required quorum at any subsequent meeting(s) being one-half (1/2) of the required quorum at the preceding meeting until a quorum is present and votes are cast.  No such subsequent meeting shall be held more than sixty (60) days following the preceding meeting.
Section 5.       Effect of Nonpayment of Assessment:  Remedies of the Association
Any assessment not paid within thirty (30) days after the due date shall bear interest from the due date at the maximum lawful rate.  The Association may bring an action at law against the Owner personally obligated to pay the same, or foreclose the lien against the Lot.
Section 6.       Superiority of the Lien to Mortgage.
The lien of the assessments provided for herein shall be superior to the lien of any first mortgage.  Sale or transfer of any Lot shall not affect the assessment lien. 
Section 7.       Suspension of Rights of Membership
Prior to foreclosure of any lien upon any Lot subject to this Declaration, the Board of Directors of the Association may elect to suspend all membership rights of any Member of Members of the Association who are delinquent in any payment due to the Association for more than 30 days, with such suspension to continue for so long as any such delinquency exists, and said Board of Directors may further suspend membership rights for a period not to exceed 30 days for the infraction of any rules or regulations by the Member, family of the Members or guests of the Members, relating to the use of any of the Common Areas of Common Facilities, with such suspension not to exceed 30 days in duration.  Suspension of membership rights shall be effective from the date that notice of suspension is mailed to the Member via U.S. Certified Mail, Return Receipt Requested, postage prepaid, to the last known address of the said member, and a copy of the notice shall be posted on any or all of the Common Areas and Common Facilities during said suspension.
Section 8.       Cancellation and Hearing.
The said Board of Directors may elect to permanently cancel the membership and all membership rights of any Member who is delinquent in any payment due to the Association for more than 90 days or when such Member, family of the Member, or guest of the Member are guilty of repeated or flagrant violation after a hearing conducted by said Board of Directors, with notice of such hearing mailed to such Member at least 30 days in advance of said hearing date, and further provided that such Member may appeal any such decision of said Board of Directors to the membership of the Association by notice mailed to each Member at least ten days in advance of the desired special meeting date, and said notice setting forth the time, date, place and purpose of said meeting.  A majority vote of the Members of the Association attending such special meeting shall be necessary to override the decision of the Board of Directors, and all votes shall be by secret ballot.  The Member via U.S. Certified Mail shall mail notice, postage prepaid, Return Receipt Requested.
Section 1.       Enforcement.  Any Owner or the association shall have the right to enforce these covenants and restrictions by proceeding at law or in equity against any person violating or attempting to violate any covenant or restriction, either to restrain violation or to recover damages, and against any Lot to enforce the lien created by these covenants upon such Lot; and failure by any Owner or the association to enforce any covenant or restriction herein contained shall in no event be deemed a waiver of the right to do so thereafter.
Section 2.  Invalidation of Covenants of Restrictions.  Invalidation of any one or more of these covenants or restrictions by judgment or court order shall in no way affect any other provision of this Declaration, and this Declaration shall otherwise continue and remain in full force and effect.
Section 3.  Amendments and Duration.  This Declaration, and the covenants and restrictions herein contained, shall run with the Lots and shall inure to the benefit of, and be enforceable by any Owner, their respective legal representative, heirs, successors and/or assigns, for an initial period of twenty-five (25) years from the date of the Declaration, after which time they shall automatically extend for successive periods of ten (10) years unless an instrument signed by the then Owners of two-thirds (2/3) of the Lots shall have been recorded, agreeing to change this Declaration, in whole or in part; provided, however, that no such agreement and instrument of change shall be effective unless written notice of the proposed agreement and instrument of change is sent to every Owner at least ninety (90) days in advance of any action taken.  The term “then Owners” shall be defined as to include Owners of recorded Lots in all phases of Platinum Peaks Estates.  This Declaration may be amended during the primary term by a recorded agreement and instrument of change signed by not less than eighty percent (80%) of the Owners, provided, that until December 31, 2005, Declarant shall have the right, by written instrument, signed, acknowledged and recorded with the County of Van Buren, to modify, restate, waive or repeal any or all of the provisions herein contained with respect to all or any particular Lot within the Subdivision not materially affecting the rights of Owners.
Section 4.  Future Phases of Platinum Peak Estates.  Declarant may develop, but is not obligated to develop, all or portions of the adjacent land as a similar family residential subdivision subject to Declaration of Covenants and Restrictions substantially similar to this Declaration.
Section 5.  Disclaimer.  The terms, conditions, restrictions and provisions of this Declaration are intended solely to enable Declarant or Architectural Control Committee to exercise its discretion in order to achieve the purposes described in the recitals to this Declaration, shall not be deemed to constitute a representation, covenant or obligation of Declarant, and Declarant shall have no liability or obligation hereunder.
Section 6.  Irrevocable Grant of Limited Power of Attorney.  Each owner of any Lot within the Subdivision does hereby irrevocably grant, assign, and give the Developer the authority for such owner to exercise or perform all actions, and execute such documents as may be necessary, to cause a plat of the Subdivision, as contemplated by the recitals set forth above, to be duly recorded in the records of the Office of the Circuit Court Clerk of Van Buren County, Arkansas, so that Lots may thereafter be referenced by Lot number as reflected on the plat, rather than by metes and bounds description, and rights of ways and common areas, if any, may be dedicated to the public.
About Platinum Peaks Lots and Pricing Greers Ferry Lake Area Information 
Photo Gallery Request Info
Fill out my online form.
Content Copyright © 2004, 2005, 2012 - Platinum Peaks Residential Development
Greers Ferry Lake and Little Red River Association | Heber Springs Chamber of Commerce | Fairfield Bay Chamber of Commerce

Web Development & Maintenance: Powersite Design