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Home My WebLink AboutD-1916 t, '~. , >i" ., JJ CERTIFICATE OF ACCEPTANCE 8~D619Zpc 659 I This is to certify that the interest in real property conveyed or transferred to the City of Arcadia, a municipal corporation, by the deed, grant, conveyance or instrument dated January 16. 1974 , from or executed by Otis Ravburn and Francis S. Ravburn , is hereby accepted by the City of Arcadia by the order or authorization of the City Council of the City of Arcadia contained in Resolution No. 2963, adopted January 21, 1958, and recorded in the office of the Recorder of Los Angeles County on January 29, 1958, as instrument No. 3069 in Book 56448, Page 264, Official Records of Los Angeles County; and the City of Arcadia consents to the recordation thereof by its duly ~fO~:'~ ~,}[~ C~ty Mana City Engineer . Th document thus described is hereby approved , , '> ~c Cit rney .-. .- " . 107'-9c,r , RECORDING REQUESTED BY T -})~\\ 8~D6192pc 658 ~ , . .~-'CITY OF ARCADIA '-..::' 927 r City Clerk P.O. Box 60 Arcadia, Ca. 91006 "I - ECORDS OffICIAL R RECORDeD IN ELES COUN1Y, CA OF LOS ANG A,i 8 I\..M. tMR '1 1974 "NO WHEN "I!COltOE:D "'AIL TO Nam_ SIr..' Addr... e,ty & $Iote L -.J f<~cc,.c!~r's Olhce SPACE ABOVE THIS LINE FOR RECORDER'S USE MAil TAIt 5TATflrl\ENTS TO r No.. Ci ty of Arcadia "I DOCUMENTARY TRANSFER TAX $_ Street Addr.1I e,ly & stateL -.J I Grant Deed f FREE, p-! I --- TO 40' 1 C^ (1.70) THIS FORM FURNISHED B..... TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of whIch is hereby acknowledged, OTIS RAYBURN and FRANCES S. RAYBURN hereby GRANT(-5Q to the CITY OF ARCADIA, a Municipal Corporation, the following described real property in the County of Los Angeles City of Arcadia, , State of CalifornIa: The northerly 6 feet of lot 31 in block 82 of Arcadia Santa Anita Tract, in the City of Arcadia, County of Los Angeles, State of California, as per map recorded in Book 15, Pages 89 and 90 of Miscellaneous Records, in the office of the C~unty Recorder of said County. f \ PRESENTED FOR RECORDATION BY CITY OF ARCADIA UNDER CALIFORNIA GOVERNMENT CODE SECTION 610J -' }ss /JA U ~ ~~tJ.~uri // ~~ 5'. ~~ Frances S. ,}"rn ' OFFICIAL SEAL l . Dated~ /0 I /f/7r/ / 51g ed, a Notary Pl Ie In and for saul Otis Rayburn and Frances before me, the undcr- Statc. pel sonally appcared S. Rayburn NOTARY PUBLIC-CALIFORNIA LOS ANGELES COUNTY My l.ommlsslOn EXlllresJune 23.1975 I ~ . . '. , known to me to be the person~whosc numpS are suhscubt.d to the wlthlll mstrument and acknowledged tl1al_"_ they e:xecuted the same :~~~~:~tf;;;;;;:e~tM;,~A--d~ CHRISTINE VAN MAANEN 2~ W. Huntmgton Dr., ArcadIa. CallI. 91006 OFFICIAL SEAL , CHRIS~!NE VAN MAA:;, , I NOTARY PUBLlC.CALlFOR~J1A t, LOS ANGELES r;O'J' . MY\OmmlsslonEx'plr~s h'nc2::', ~9!5 k ." >- >- tL..l W '" ., :J L ~ J cJ . <J 240 W. Huntington Dr.. ArcadIa. C,,111 9WD6 z o c: "- "'- U "' LJ a r-... _ .",.--....,---' Ndmt: (Typed or Punted) (TJll~ Ill".! to, ofthJ.\!l101anul M'ul) Title Ordel No E~crow or Loan No. . MAIL TAX STATEMENTS AS DIRECTED ABOVE " MARK H 8LOOOGOOD AUDITOR-CONTRC)LLER " ---- , COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR,CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 974-8361 December 17, 1974 -P 111c", ROBERT A GILL CHIEF DEPUTY E GUERRERO CHIEF, TAX DIVISION Direct inquiries to Attn: Thelma Crutchfield City of Arcadia 240 West Huntington Drive Arcadia, California Attention: J. William Phillips City Attorney SUBJECT: Por. of Lot 31, Elk. 82, Arcadia Santa Anita Tr. acquired from Otis and Frances S. Rayburn, Colorado Boulevard Widening. Gentlemen: Pursuant to your letter dated March 18, 1974. taxes have been cancelled in accordance with section 4986 of the Revenue and Taxation Code. This cancel- lation was ordered by the Honorable Board of Super- visors December 12, 1974 by Authcrization No. 36044. Very truly yours, MARK H. BLOODGOOD, Auditor-Controller ~~~ By Edward Guerrero, Chief, Tax Division EG/l'C/kj Tax Div. #C-ll 9/74 H-6 RECEIVED DEe 2 I) 1974 CITY OF ARCADIA CITY ATTORNEY :;:O_':;:~1?"'-,.;".~.....,---,--. ~-"' ,-'. ~ i ..-' --- March 18, 1974 Mr. Mark H. Bloodgood, Auditor-Controller 500 West Temple Street, "Room 153 Los Angeles, California 90012 Attention: Tax Cancellation Section SUBJECT: Request for Cancellation of Taxes Portion of Lot 31, Block 82, Arcadia Santa Anita Tract acquired from otis and Frances S. Rayburn Colorado Boulevard Widening. Dear !>1r. Bloodgood: Please cancel as of the date of recording all taxes on ~~e property described in the attached copy of deed. "This property is being acquired for public street purposes. There is no building o~ it. Very truly yours, J. WILLrAM PHILLIPS City Attorney J"Wi?: at Attachment cc: City Clerk./ ", .' v~ ~ CLTA-1973 STANDARD COVERAGE POLICY OF TITLE INSURANCE ls~ued by SAFECO TITLE INSURANCE COMPANY SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF. SAFECO TITLE INSURANCE COMPANY, a California corporatlOn. herein called the Company. msures the insured, as of Date of PolIcy shown In Schedule A, against loss or damage, not exceedmg the amount of insurance stated in Schedule A, and costs, attorneys' fees and expenses whIch the Company may become obligated to pay hereunder, sustained or Incurred by said Insured by reason of: 1. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on such title; 3, Unmarketabllity of such tItle; or 4. Any lack of the ordinary right of an abuttIng owner for access to at least one physically open street or hIghway jf the land, In fact, abuts upon one or more such streets or highways; and in addItion, as to an insured lender only: 5. Invalidity of the hen of the insured mortgage upon said estate or interest except to the extent that such invalidity, or claim thereof, arises out of the transactIOn evidenced by the msured mortgage and IS based upon a. usury, or b. any consumer credIt protectIOn or truth In Jendjng Jaw; 6 PrIOrIty of any lien or encumbrance over the lien of the Insured mortgage, said mortgage being shown in Schedule B in the order of its priorItYi or 7. InvalIdIty of any assignment of the Insured mortgage, prOVIded such aSSIgnment IS shown in Schedule B. ~~~<.. ~. ......................,"',\\\\\ ~-o-~c:.UR4 \\1\1 :<- '..........4'("' I, ::,""... ...<1" "1 ::.::;:... .. ("" I( f"':"~...\,\l\\PORA 1[0\0 ~ ~o: :3~ /.'-'. --- ..,,:::: ~"",. 11 '\ 4O:Do; ~~\/''4RCH.5. ,ij~ /~f (I."... ..~: ',.. .... - 1111~lf~.iii o~\i\ ~~-==- ~ \\\\"",.....,................. c::: )<-. ~-'--"2h 111 Nr:Y~ President An Aulhorized Signature 1'-218 (G S, Rev 8-73 fl!J eSlIf...o lu"...... c_~....J of .........<1 1l000II\e,"d T..,......,k __, CONDITIONS AND STIPULATIONS 1. Definition of Terms The followinjl; tenns when used In this policy mean - (a) "msured": the Insured named In Schedule A, and, subject to any rights or delenses the Company may have had 8Kainst the named Insured, those who succeed to the interest of such Insured by operation of law as distinguIshed from purchase mcludmg, but not limited to, heirs, dlstrlbutees. devisees, survIVors, per- sonal representatives, next of kill, or cor- porate or fiduclluy successors. The term "insured" also includes (I) the owner of the indebtedness secured by the Insured mortga!;e and each successor in ownership of such indebtedness (reservmg, however, all rIghts and defenses as to any such successor who acquires the indebtedness by operation of law as d~cnbed In the first sentence of thiS subparagraph (8) that the Company would have had against tho successor's transferor), and further includes (II) any governmental agency or instrumentality whIch IS an insurer or guarantor under an msurance contract or Ruaranty insunng or guaranteeing said mdebtedness, or any part thereof, whether named os an insured herem or not, and (Hi) the partIes deSignated in paragraph 2(a) of these Conditions and StlUplations (b) "Insured claimant". an insured claimmg loss or damage hereunder. (c) "insured lender": the owner of an insured mortgage. (d) "insured mortgage": a mortgage shown m Schedule B, the owner of which i! named as an msured in Schedule A. (e) "knowledge": actual knowledge, not constructive knowledge or notice whIch may be Imputed to an msured by reason of any public records. ({) "land" the land described, spe. cifically . or by reference in Schedule A, and Improvements affixed thereto which by lay constitute real property, pro\1ded, however, the term "land" does not include any area excluded by Paragraph No. 6 of Part I of Schedule B of thiS Pohcy. (g) "mortgage": mortgage, deed of trust, trus; deed, or other secunty mstru- ment. (h) "pubhc records" those records which by law Import constructive notIce of matters relatmg to the land. 2. (a) Continuation of ImlUrance after Acqui!!litlOn of Title by In!ured Lender If thIS policy Insures the owner of the indebtedness secured by the msured mort. RaRe, thiS pohcy shall contmue m force as of Date of Pohcy m favor of such m- sured who acqmres all or any part of the estate or mterest m the land descnbed in Schedule A by foreclosure, trustee's sale, conveyance m heu of foreclosure, or other lellal manner which discharges the hen of the Insured mortgage, and If such msured IS a corporatIOn, Its transferee of the estate or mterest so acqUired, proVIded the transferee IS the parent or wholly owned subSidiary of such msured, and In favor of any ~overnmental agency or m. strumentahty whICh acqUires all or any part of the estate or jnterest pursuant to a contract of msurance or J;uaranty m sunng or guaranteeing the mdebtedness secured by the msured mortgage After any such acquiSition the amount of insur- ance hereunder, exclusive of costs, attor. neys' fes and expenses which the Company may be obli,z:ated to pay, shall not ex- ceed the least of (J) the amount of insurance stated in Schedule A; (Ii) the amount of the unpaid prm- clpal of the mdebtedness plus mterest thereon, as determined under paragraph 6(a) (ill) hereof, expenses of foreclosure and amounts advanced to protect the hen of the insured mortgage and secured by saId msured mortgage at the time of ac- quisition of such estate or Interest in the land, or (hi) the amount paid by any govern. mental agency or instrumentality, If such a~ency or Instrumentality IS the IDsured claimant, 10 acquiSitIon of such estate or interest In satisfactIOn of Its insurance contract or ~uaranty (b) Continuation of Insurance after Converance of Tide The coverage of this pohcy shall contInue in force as of Date of Pohcy, In favor of an Insured so long as such insured retams an estate or Interest in the land, or owns an mdebtedness secured by a purchase money mortgage given by a purchaser from such Insured, or so long as such msured, or so long as such msured shall have liablhty by reason of covenants of warranty made by such msured 10 any transfer or conveyance of such estate or mterest; provided, however, thiS pohcy shall not contmue m force in favor of any purchaser from such insured of either said estate or interest or the Indebtedness se. cured by a purchase money mortgage g:IVen to such insured . 3. Defense and Pro!ecution of Ac- tionll~Notice of Claim to be Given br an Insured Claimant (a) The Company, at Its own cost and WIthout undue delay, shall prOVide for the defense of an msured in litIgation to the extent that such litigatIOn Involves an alle,z:ed defect. lien, encumbrance or other matter msured agamst by thiS pohcy (b) The msured shall notIfy the Com- pany promptly m wntmg (d m case of any htq:~atlOn as set forth m (a) above, (11) m case knowledge shall come to an Insured hereunder of any claim of title or mterest whIch IS adverse to the tItle to the estate or mterest or the hen of the msured mortgage, as msured, and which mlj:!;ht cause loss or damage for which the Company may be lIable by virtue of thiS pohcy or (ui) if title to the estate or m- terest or the hen of the msured mortgage, as msured, IS rejected as unmarketable If such prompt notice shall not be ~l\en to the Company, then as to such msured all habIhty of the Company shall cease and termmate m regard to the matter or matters for which such prompt notIce IS reqUired, prOVided, however, that faIl- ure to notify shall m no case prejudice the TIghts of any such msured under thiS poilcy unless the Company shall be pre- judiced by such failure and then only to the extent of such prejudice (c) The Company shall have the TIght at Its own cost to mstltute and Without undue delay prosecute any actIOn or pro- ceedmg or to do any other act whIch 10 its opinIOn may be neces5:Jry or desire- able to estabhsh the tItle to the estate or mterest or the lien of the msured mort- ~age, as msured; and the Company may take any appropnate actuln, whether or not It shall be Illlble unde:r the terms of this pohcy, and shall not thereby con- cede lIability or waive any prOVISion of this pohcy (d) Whenever the Company shall have brought any actIOn or interposed a defense as reqUIred or permitted by the prOVISIOns of thiS pohcy, the Company may pursue any such htlgatlOn to final determmatlon by a court of competent JurisdIction and expressly reserves the right, In its sole dIscretIOn, to appeal from any adverse judgment or order (e) In all cases where lhis policy per- mits or reqUIres the Company to prose- cute or prOVide for the defense of any action or proceedmg, the msuted here- under shall secure to the Company the right to so prosecute or prOVide defense In such actIOn or proceedmg, llnd all appeals therein, and permit the Company to use, at Its option, the name of such Insured for such purpose. Whenever requested by the Company, such Insured shall gIve the Company, at the Company's expense, all reasonable aid (1) In any such actIOn or proceeding m effectmg settlement, secur. In!'!; evidence, obtaining Witnesses, or prose. cutlng or defendmg such actIon or pro. ceeding, and (2) In any other act which in the opinion of the Company may be necessary or desirable to establish the title to the estate or Interest or the hen of the msured mortgage, liS msured, m- cludln~ but not IImtted to executmg cor- rectIve or other documents 4. Proof of Lo!! or Damage ~ Limi~ tation of Action In addition to the notIceS reqUired un. der Paragraph 3(b) of these Conditions and StipulatIOns, a proof of loss or dam- age, Signed and sworn to by the msured claimant shall be furDlshed to the Com- pany WithIn 90 days after the insured claimant sholl ascertain or determme the facts glvmg rise to such loss or damage. Such proof of loss or damage shall de- scribe the defect in, or lien or encum- brance on the title, or other matter m. sured agamst by thiS policy whIch con- stitutes the basis of loss or damage, and, when approprIate, state the hasls of cal- culating the amount of such loss or dam. a.. Should such proof of loss or damage fLul to slate facts suffiCient to enable the Company to determme Its liabIlity here under, msured claimant, at the WrItten request of Company, shall furmsh such additIOnal mformatlOn as may reasonably be necessary to make such determmatlOn No rIght of action shall accrue to m- sured claimant until 30 ds)s after such proof of loss or damage sholl have been furmshed Failure to fUrnish such proof of loss or damage shall term mate any ilablhty of the Company under this poilcy as to such loss or damage 5. Options to Payor Otherwi.!le Seule Claim~ llnd Options to Pur- chase Indebtednes!!I The Company sholl have the option to (Condl110ns and Stipulations ContInued and Concluded on Last Page of thIS Pohcy) '., i1r,....f~' ~-'~-.. ~ RMK, P.218-A (G S) Rev 8-73 California Land TlIle AS80Clcllon Standard Coverage Pohcy-I973 SCHEDULE A DJle of Policy: Amount of In,urance: S 3,000.00 May 7, 1974 at 7:30 A.M. Policy No: Charge S 7210639-45 50.00 1. Name of Insured: CITY OF ARCADIA, a Municipal Corporation Colorado Blvd. Job # 389 2. The estate or interest in the land described herein and !ih1ch is covered by this policy is: A fee 3. The estate or interest referred to herein IS at Date of Policy vested in: CITY OF ARCADIA, a Municipal Corporation .1. The land referred to In this policy IS situated lD the Stale of California, County of Los Angeles ~alld de,cribed a, follows: ~ The Northerly 6 feet of Lot 31 in Block 82 of Arcadia santat Anita Tract, in the City of Arcadia, as per map recorded in Book 15, Pages 89 and 90 of Miscellaneous Records, in the office of the County Recorder of said County. . C' P-218-B (G S) Rev 8-73 CahfoInJo Land T1l1e ASSoclobon Standard Coverage Pohc:y-1973 SCHEDULE B This policy does not insure against loss or damage, nor against costs, attorneys' fees or expenses, any or all of which arise by reason of the following: PART I --- 1. Taxes or assessments which are not shown as existing Hens by the records of Bny taxing authority that levies taxes or assessments on real property or by the pubhc records. Proceedings by a public agency which may result in taxes or assessments, or notices of such proceeding"~ whether or not shown by the records of such agency or by the public records. 2. Any Iacts1 rights, mterests or claims which are not shown by the public records but which could be ascertained by an inspectIon of the land or. by makIng inquiry of persons in possession thereof. 3. Easements, hens or encumbrances, or claims theTf?of, whIch are not shown ~y the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a conect survey would disclose, and which are not shown by the public records. 5. (a) Unpatented mimng claims; (b) reservations'or exceptions in patents or in Acts authorizing the issuance thereof, (c) water rights, claims or title to water. 6. Any right, title. interest, estate or easement in land beyond the lines of the area specifically descrIbed or referred to in Schedule A, or III abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing III thIs paragraph shall modify or lImit the extent to whll.:h the ordinary right of an abutting owner for access to a physically open street or highway is insured by this policy. 7. Any law, ordlllunce or governmental regulation (including but not hmited to building and zoning ordinances) restrIcting or regulatll1g or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensIOns or Jocahon of any improvement now or hereafter erected on the land, or prohibiting a separation In ownership or a reduction in the dimensions or area of the land, or the effect of any violation of any such law, ordInance or governmental regulation. 8. Rights of emlllent domain or governmental rights of police power unless notice of the exercise of such rights appears In the public records. 9. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed or agreed to by the insured claimant; (b) not shown by the public records and not otherwise excluded from coverage but known to the insured claimant either at Date of Policy or at the date such c1mmant acquired an estate or interest insured by this policy or acqUIred the Insured mortgage and not disclosed in wTIting by the insured claimant to the Company prior to the date such Insured claimant became an Insured hereunder; (c) resulting in no 10'Os or damage to the Insured claimant; (d) attachIng or created subsequent to Date of Policy; or (e) resulting In loss or damage which would not have been sustained if the insured claimant had been a purchaser or encum. brancer for value without knowledge. (Schedule B continued on next page of this Policy) P-iI8-BB (c'S) Rev 8-73 Cahforma Land Title AssoclahQn Standard Coverage Pohcy-1973 PART II 1. General and special taxes for the fiscal year 1974-1975, a lien not yet payable. 2. A notice of proceedings for redevelopment of the Central Redevelopment Project Area of the City of Arcadia, under the provisions of the California Community Redevelopment Law, recorded December 28, 1973 as instrument No. 4927 in Book M-4557, Page' 429, Official Records. . 3. The effect of the provisions of the redevelopment plan for the Central Redevelopment Project Area.of the City of Arcadia as approved and adopted December 26, 1973 by the City Council of the City of Arcadia, by Ordinance No. 1490, as disclosed by the above recorded notice. . a.,~ ~ L 0 ~ <'0 0 U1 ~ :J \) Z lJ\ " ill ~ "' > U) 0 <i " ~l Goo ~c.OL.ORA170 13 0 U LEV A, R !? 50 50 50 50 50 5Co 50 "Co 50 5,-"7 U) I " ~I '30 2~ 2~ Z7 I 2G; 2.5 24 2~ 22 r , I "' - 13 L 0 C t?O so '>'" 50 50 '>'" >:0 "'" 50 50 o " 50 ISI c,;~ C 20 " U\ 21 ~ 0 I~ ~ "' iJ\ 'A ~ 18 '" '" 00 'GI G'J> Bl ARCAf7/A gANTA ANITA M ~ S ..<;;UAIT'" TOT.. TRACK R IS/50 -90 Illl- 1,111 I [., 11\,. 'lOt III 1'11.1' "~'I 1.,,1 "1111 l.ltl""' I" ~I"'I~ ,J'\.1 nth"1 I"l"l- It I... !ll,t.[ -111\.'\ \\1111, llll- 1,1,1 h 1..:,'\ il"!. '\'1 I 1'" .101, 1\ t.'III11'~ Ill> h.d''!lll I", Illl j",_ U"IIIIIlI:': 10\ I' ['''11 ,,1,,1'.111" 111"'''11 SEC'unIT, TiTLE INSURANCE COMf:lANY . . -' CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Pohcy Face) payor otherwise settle for or in the name of an Insured claimant any claim Insured a~ainst, or to terminate all liabilIty and obhj:!;shons of the Company hereunder by paying or tendermg payment of the amount of inSUrance under this policy together with any costs, attorneys' fees and expenses Incurred up to the hme of such payment or tender of payment by the Insured claimant and authOrized by the Company. In case loss or damsJ!;e IS claimed under this policy by the owner of the mdebtedness secured by the insured mortl':a~e, the Company shall have the further optIOn to purchase such mdebted- ness for the amount owmg therem to- gether with all costs, attorneys' fees and expenses which the Company JS oblig.ated hereunder to pay. If the Company offers to purchase said indebtedness as herein provided, the owner of such indebtedness shall transfer and asslJ!;n said indebtedness and the mortgage and any collateral se- curinA" the same to the Company upon payment therefor as herem proVided Upon such offer being made by the Compan}, all liabilIty and oblI~atIons of the Com- pany hereunder ro rhe owner of rhe In- debtedness secured by said msured mort. p;aJ!;e, other than the oblIgation to pur- chase said mdebtedness pursuant to thiS paraJ!;raph, are terminated. 6. Determination and Payment of 1.0.. (a) The lIabIlity of the Company under this pohcy shall in no case exceed the least of: (J) the actual loss of the msured claimant, or (iI) the amount of insurance stated in Schedule A, or, if applicable, the amount of Insurance as defined in para. graph 2(a) hereof, or 'bii) If this policy insures the owner of the Indebtedness secured by the insured mortgap;e, and pro"'lded said owner IS the insured claimant, the amount of the un- paid pnnclpal of said mdebtedness, plus interest thereon, provided such amount shall not mclude any addItional principal indebtedness created subsequent to Date of Pohcy, except as to amounts advanced to protect the lien of the Insured mortgage and secured thereby. (b) The Company will pay, m ad- dition to any loss insured against by this policy, all costs Imposed upon an Insured in htll:1;allOn carned on by the Company for such insured, and all costs, attorneys' fees and expenses In htlgatlOn carned on by such Insured with the wntten author. Ization of the Company. (c) When the amount of loss or dam. a~e has been definjteJy fixed m accor. dance WIth the conditIOns of thiS pohcy, the loss or damap;c shall be payable With- In 30 days thereafter. 7. Limitation of Liability No claim shall arise or he maintainable under thiS pohcy (a) If the Compan), after havlnj2; received notice of an alleged defect, hen or encumbrance insured ap;alnst hereunder, by htl~atlon or other. Wise, removes such defect, hen or encum- brance or establishes the title, or the hen of the Insured mortp;age, as Insured, With. In a reasonable time after recelpt of such P-218 (G S) Rev 8-73 notICe; (b) in the event of htlJ!;ation untd there has been a final determmation by a court of competent JunsdlctlOn, and disposition of all appeals therefrom, ad. verse to the title or to the hen of the m. sured mortj!:ap;e, as insured, as proVided in parap;raph 3 hereof; or (c) for liability voluntarily admitted or assumed by an msured WIthout pnor wntten consent of . the Company. 8. Reduction of In~urance; Termin- ation of Liability All payments under this policy, except payment made for costs, attorneys' fees and expenses, shall reduce the amount of the Insurance pro tanto; provided, how- ever, Jf the owner of the mdebtedness secured by the Insured mortgap;e IS an m. sured hereunder, then such payments, prIOr to the acquiSItIon of title to said estate or mterest as provided In paragraph 2(8) of these CandltlOns and Stlpu)atlOn.9, shall not reduce pro tanto the amount of the insurance afforded hereunder as to any such msured, except to the extent that such payments reduce the amount of the mdebredness secured by such morrgage. Pa)"ment In full by any person or vol. untary satHlfactlOn or release of the in- sured mort~aJ!;e shall terminate all habll- Ity of the Company to an msured owner of the indebtedness secured by the insured mortgage, except as prOVided In paragraph 2(a) hereof 9. Liability Noncumulative It IS expressly understood that the amount of lnsurance under thiS pohcy, as to the msured owner of the estate or mterest covered by thiS pohcy, shall be reduced by any amount the Company may pay under any pohcy insurIng (a) a mortp;a~e shown or referred to In Schedule B hereof whICh is a hen on the estate or mterest covered by this pohcy, or (b) a mortgage hereafter executed by an insured which IS a charge or lien on the estate or interest descnbed or referred to III Schedule A, and the amount so paid shall he deemed a payment under thiS pohcy The Company shall have the optIOn to apply to the payment of any such mort- j2:aj2:e any amount that otherWIse would be pa)able hereunder to the Insured owner of the estate or interest covered by thJS polIcy and the amount so paid shall be deemed a pa)ment under this pohcy to said Insured O'nner The prOVIsions of thiS paragraph 9 shall not apply to an owner of the Indebtedness secured by the insured mortgage, unle",s such insured acquires tItle to said estdte or Interest m satisfactIOn of said mdeht- edness or any part thereof 10. Subrogation Upon Payment or Settlement Whenever the Company shall have paid or settled a claIm under thiS polley, all np;ht of subrogatIOn shall vest In the Com- pany unafff'cted by any act of the Insured claimant, except that the owner of the 10- debtedness secured by the Insured mort- gage may relen.:;e or substitute the per- sonal hablhty of an} debtor or guarantor, or extend or otherWise modIfy the term.:; of payment, or release a portion of the estate or Interest from the hen of the msured mortgage, or release any collateral security for the Indebtedness, pro"lded such act occurs prior to receipt hy such Insured of notIce of any claim of title or mterest adverse to the title to the estate or Interest or the pnonty of the lien of the insured mortp;age and does not result In any loss of pnonty of the hen of the msured mortgage. The Company shall be subrogated to and be entitled to all rights and remedies which such Insured claImant would have had against any person or property m respect 10 such claJm had th1s poilcy not been Issued, and the Company IS hereby authonted and empowered to sue, compromIse or settle In Its name or 10 the name of the insured to the full extent of the Joss sustamed by the Company If requested by the Company, the msured shall execute any and all documents to eVidence the Within subrogatIon If the payment does not cover the loss of such 10sured cllumant, the Company shall be subrogated to such fights and remedIes In the proportIOn which said payment bears to the amount of said loss. but such subrogation shall be In subordinatIOn to an msured mortgage. If loss should result from any act of such Insured claImant, such act shall not "Old thiS pohcy, but the Company, m that event, shall as to such Insured claImant be reqUlred to pay only that part of any losses Insured agaInst hereunder whIch shall exceed the amount, if dny, lost to the Company by reason of the impairment of the rIght of subrogation II. Liability Limited to thi~ Policy ThiS lllstrument together with all en. dorsements and other mstruments, If any, attached hereto by the Company is the entire policy and contract between the msured and the Company Any claIm of loss or damage, whether or not based on neghJ!;ence, and which arises out of the status of the hen of the Insured morlgage or of the tItle to the estate or mterest covered hereby. or an} actIOn asserting such claim, shall be re- stricted to the proviSIOns and condItions and stipulatIOns of this policy No amendment of or endorsement to thiS policy can be made except by wntlng en. dorsed hereon or attached hereto Signed by eIther the PreSIdent, a Vice President, the Secretary, an ASSistant Secretary, or validating officer or authOrIzed signataI'} of the Company No payment shall be made Without pro. duclng this policy for endorsement of such payment unless the pohcy be lo~t or de. strayed, m which case proof of such loss or destructIon shall be furlllshed to the satisfactIOn of the Com pan). 12. Noticetl, Where Sent All notices required to be gIVen the Company and any statement m WrIting reqUlred to he furmshed the Company shall he addressed to It at the office which Issued thiS polle) or to ItS Home Office. 13640 Roscoe Boulevard, Panorama Clt)", Cnhfor1ll8 91409 13. THE CHARGE SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITLE SEARCH, TITLE EXAMINATION ANll TITLE INSURANCE. . '0" ) . . I SAFECO TITLE INSURANCE COMPANY POLICY OF TITLE INSURANCE ~ S. SAFECD T1T1.E SAFECO TITLE INSURANCE COMPANY HOME OFFICE 13640 ROSCOE BOULEVARD PANORAMA CITY, CALIFORNIA 91409 SAFECO TITLE INSURANCE COMPANY