MODIFICATION OF RESTRICTIVE COVENANTS

This declaration of Restrictive Covenants is made by Black Ink, Inc.,
hereinafter referred to as GRANTOR, being the owner of that portion of
the area in the phase of the subdivision known as Cove Landing
Subdivision, Phase II, the original Restrictive Covenants for which were
placed of record for said subdivision on November 25, 1998 and now
appear at Pope County Record Book 29B, at pages 255 through 266,
inclusive, said Grantor constituting the only party required to effect the
modification of said Restrictive Covenants.

WITNESSETH: WHEREAS, the original Restrictive Covenants were filed of
record in a document recorded at Book 29B, page 255 and following;
and WHEREAS, it appears that the building setback requirements set forth
in paragraph 6 thereof contain a mistake and need to be changed; and
WHEREAS, the only party whose signature is required has agreed to make
that change. NOW THEREFORE, in consideration of the covenants and
other consideration, the receipt and adequacy of which are by the
signatures below admitted and confirmed, and in consideration of the
advantage to accrue to the subdivision by making the proposed
changes, Grantor does hereby amend paragraph 6 to read: for those lots
identified in the second sentence of this paragraph no building shall be
constructed on any lot nearer to the street than 50 feet, nearer to any
side lot line than 15 feet, and nearer to any rear lot line than 25 feet, (in
any conflicts between this paragraph and the filed plat, this paragraph
shall govern). Lots 94 through 108 inclusive, 110, 112 and 124 shall have
front lot construction setbacks of 30 feet, side lot setbacks of 15 feet and
near lot line setbacks of 25 feet. This agreement constitutes the entire
agreement between the parties respecting the issues covered herein and
all other agreements on this subject matter as deemed merged within this
agreement. These RESTRICTIVE COVENANTS shall run with the land as
provided for in the original Bill of Assurance.

IN WITNESS WHEREOF, the parties have hereunto set their hands this
________ day of ________, 2000.
BLACK INK, INC. GRANTOR
____________________________
JAMES P. KNIGHT, President
____________________________
JON R. SANFORD, Secretary

STATE OF ARKANSAS ACKNOWLEDGEMENT
COUNTY OF POPE
BEFORE ME, a Notary Public, within and for the County and State
aforesaid, duly qualified, commissioned and acting, personally appeared
to me the representatives of the GRANTOR in the foregoing instrument
and stated that they had executed and delivered the same for the
consideration, purposes and uses therein mentioned and set forth.
WITNESS my hand and seal this ____ day of ______, 2000.
____________________________
Notary Public
My commission expires:
_____________________