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B-D6S00n736
CERTIFICATE OF ACCEPTANCE
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 November 8, 1974 , from or executed
by Mobil Oil Corooratlon , 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
authorized- officers.
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The
City Manager
d cument thus d~ cribed
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City Engineer
is hereby approved as
City AttorneY""
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G. D. FROST Ass't.;;:Seffief~ry;<'.."".
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JOSEPH ZO~'f!~:~t<~~""'.\,)s:-:_, ..\; "-:-1'.;- ',:~"\(:)ll\ ,f
NOT....RY PU611.c, Sfale~t.Ne:.:;.!.Y&k~~':\" "': ,'f ~""k.;:.1.:~ - ~"ll...1
No 41-9ei~0'f.i'~~'i~,:w.~ ~~.~~ _ ". '~.$l ..
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F.scrow or Loan No. ~ :1:." ~.. ~1 ..}.~ :
R"!:COilDING REQUEBTED BY
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.s~fECO 'TiTU: INSURANCE COMPMi:
AND WMKN -.c:O_DCO MAIL TO
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Off\C\" ~ CA
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RIOCORO. !'lGIOLf-S
Of LOS " . ,.
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DEe 1.3 '914
, O<<ice
Recorder s
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City Clerk
P 0 BOll: 60
Arcadia, CalU 91006
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City of Arcadia
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Corporation Grant Deed
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THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST CO~A.~ "
SPACE ABOVE THIS LINE Fo.R RECORDER'S USE
.foSSTS. POL. NO
TO 40e.2 CA. 110_731
The underslf';ned f';rantor(s) declare{s): ~ /.
Documentary transfer tax IS S N~
( ) computed on full value of property conveyed, or
( ) computed on full value less value of ~s and en~umbrances remaining at time of sale.
( ) Unincorporated area' (~Clty of CA d I A , and
FOR A VALUABLE CONSIDERA llbN, r;~;;~t-of';iifch ~;b'treby acknowledged,
OIL On. CORPORA'l'ION
a corporation organized under the laws of the state of H81I York
hereby GRANTS to
CI'l'I OF ARCADIA
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the following descrIbed real property in the City of Arcadia
County of Los Angeles , State of CalIfornia'
'!hat portion of Lot 34 1:1 Blocll: 82 of Arcadia Santa Anita Tract, in the'City of
Arcadia, County of Los Angeles, State of CalUomia, as shOlll1 OIl map recorded in
Book 15, pages 89 and 90 of Miscellaneous. Records in the oftice of the County Re~
corder of said County, described as tollOlfl!lI
Beginning at the nortlnreeterl,y comer of said Lot; thence easterly along the north-
erly line of .eaid,L6t a distance of 151.60 teet to the northeasterly comer ot said
Lot; thence sOl1therl,y along the easterly line of said Lot to the southerly line or
the nortberl,y 6.00 teet of said LotJ thence westerly along said southerly line to
the beginning of a tangent curve southeasterly having a radius of 15.00 teet" said
OU1"Y8 also being tangent at ita southerly te1'lll1nus to the westerly line of said Lot;
thence southnsterl,y along the arc of said curve to said southerly te1'lll1nusJ thence
northerly along the westerly line of said Lot to the point of beginn1ng.
SUBJECT to current taxes and. assessllBute and to all 888811Bute,restrictione, reeer-
vatiOl18, conditions and r1ghte-ot""Ir8Y of record.
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In Witness Whereof, said corporation has caused its corporate name and seal to be affixed hereto and this instru-
ment to he executed hv \lei. Vice PresIdent and Asa1s+.a"t Secretary
thereunto dul~ authorizrsl."74
Dated: ~UV R 1~1
NEW YORK
5TATE OF .. ._,.. ...
COUNTY OF NEW YORK
On NOY 8 1971 belore me, .he under.
signed. a Notary Public ~ rtWE~~ said Stalt'. personally appeared
G. I. . known
to me to be the VICE President. and
r:: n FRi),T known to me to be
ASST Secretary of the Corporation Ihat e'tecuted the
withm Instrument. k.nown to me to be the persons ",ho executed the
willun Imtrument on behalf of the Corporal IOn therein named, and
acknowledged to me that such Corporation executed the wlthm lnstru-
ment pursuant to Its by.laws or a resolution of Its board of directors.
WITNESS m and and official seal
} 55.
President
By
Vice
By
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Title Order No.
MAil TAX STATEMENTS AS DIRECTED ABOVE
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At a duly constituted meeting of the Board of Directors
of MOBIL OIL CORPORATION, held at The Hotel Okura, Tokyo, Japan,
on the 25th day of September, 1974, at which meeting a quorum was
present and assented to their passage, the following Resolutions
were adopted:
RESOLVED, that a resolution adopted by the
Executive Committee of the Board of Directors
of this Corporation on January 8, 1974, ,
granting authority pertaining to the execution
of instruments to J. H. BARRY, D. J. D'ALESSIO,
R. C. DRUMMOND, R. H. GARDNER, H. H. HINKLE,
C. J. LAUSE, G. F. LEWIS, F. W. MILNE, J. D.
ROXE, F. C. SEIBOLD, JR., and J. C. SIMCOX, be
and the same hereby is revoked, effective at the
close of business September 30, 1974.
FURTHER RESOLVED, that, effective October 1, 1974,
J. H. BARRY, W. F. BRANN, D. J. D'ALESSIO, R. C.
DRUMMOND, R. H. GARDNER, H. H. HINKLE, C. J. LAUSE,
G. F. LEWIS, F. W. MILNE, J. D. ROXE, F. C. SEIBOLD,
JR., and J. C. SIMCOX, Officers of this Corporation,
and each of them, be and they hereby are authorized
to execute, acknowledge, and deliver any and all
instruments in the name and on behalf of this
Corporation, including, without limiting the gener-
ality of the foregoing, deeds conveying real estate,
with the same force and effect as if specific
authority were granted by this Board in each
particular instance; and the Secretary or an Assistant
Secretary is hereby authorized to attest the execution
of such instruments and to affix the Corporate Seal
thereto.
. . . . . . . . . . . . . .
I, G. D. FROST , Assistant Secretary of MOBIL OIL
CORPORATION, do hereby certify that.the foregoing is a true copy
from the records of the said MOBIL OIL CORPORATION, and that said
Resolutions are now in full force and effect.
IN TESTIMONY WHEREOF, I have signed my name and affixed
\'\"'O":~tl'ne"'c,orporate Seal at New York, N. Y., this
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\....1< ....MOC.. P Ii No. 1026
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8th day of
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COUNTY OF LOS ANGELES
DEPARTMENT OF AUDITOR-CONTROLLER
MARK H BLOODGOOD
A UDITOR.CONTROl-1..ER
15::1 HALL OF ADMINISTRATION
L.OS ANGELES, CALIFORNIA 90012
974.8361
May 13. 1975
ROBERT A GILL
CHIEF DEPUTY
E GUERRERO
CHIEF, TAl{ DIVISION
Direct inquiries to
Attn: Thelma Crutchfield
"
City of Arcadia
240 West Huntington Drive
Arcadia. California
Attention: J. William Phillips
City Attorney
RECEIVED
MAY 15 1975
CITY OF ARCAOIA
CITY A1TORNEY
SUBJEX:T:
Portion of lot 34. Block 82 of
Santa Anita Tract acquired from
Mobil Oil Corporation~
Gentlemen:
Pursuant to your letter dated January 3. 1975.
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
May 1. 1975
by Authorization No. 38399.
Very truly yours,
MARK H. BLOODGOOD
Auditor-Gontroller
~~~
By Edward Guerrero, Chief
Tax Division
ID/'lC/kj
Tax Div. #C-ll 4/75
H-6
January-3, 1975
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 34, Block 82 of
Santa Anita Tract acquired from
Mobil Oil Corporation
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Dear Mr., Bloodgood:
Please cancel as of the date of recording all taxes on the
property described in the attached copy of deed. This property
is being acquired for public street purposes. There ii no building
on it.
Very truly yours,
J. WILLIAM PHILLIPS
City Attorney
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Attachment
cc: City Clerk
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CLTA-1973
STANDARD COVERAGE
POLICY OF TITLE INSURANCE
iSl:lued by
SAFECO TITLE
INSURANCE
COMPANY
SUBJECT TO SCHEDULE B AND THE CONDITIONS AND STIPULATIONS HEREOF, SAFECO
TITLE INSURANCE COMPANY, a California corporation, herein called the Company, Insures the
insured, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding 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
slated therein;
2. Any defect in or hen Of encumbrance on such title;
3. Unmarketahility 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 if 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 lien 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 lending law;
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 prionty; or
7. Invalidity of any assignment of the insured mortgage, provided such assignment
is shown in Schedule B.
Secretary
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P-218 (G S) Rev 8-73
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CONDITIONS AND STIPULATIONS
1. Definition of Terml'l
The folIowmg terms when used In this
policy Illean:
(a) "Insured" the insured named In
Schedul", A, and, subject to any rights or
defenses the Company may ha..e had
against the named Insured, those who
succeed to the mterest of such Insured by
operation of law as distingUished from
purchas~ includmg, but not limited to,
heirs. dlstnbutees, deVisees, surVivors, per-
sonal r~presentatives, next of km, or cor.
porate or fidUCiary successors The term
"Insured" also Includes (I) the owner of
the mdehtedness secured by the insured
mortgage and each successor In ownership
of such mdebtedness (reserving, however.
all nghts and defenses as to any such
succeSSOr who acqUires the mdebtedness
by operatIOn of law as described in the
first sentence of thiS subparagraph (a)
that the Company would have had agamst
the suc:cessor's transferor), and further
includes (11) any governmental agency or
instrumentality which IS an Insurer or
guarant()r under an Insurance contract or
J!:uaranty msurInJ!; or guaranteem(!: said
mdebtedness, or any part thereof, whether
named as an insured herem or not, and
(III) the partIes deSignated In paragraph
2(a) of these ConditIons and StIpulations.
(b) "insured claimant"; an Insured
clalmln~ loss or damage hereunder.
(c) "Insured lender" the owner of an
Insured mortgage.
(d) "Insured mortgage" a mortga~e
shown In Schedule H, the owner of whH"h
IS nam~d as an insured In Schedule A
(e) "knowledge": actual knowledge,
not COnstruct1Ve knowledge or notJce
which Illay be imputed to an Insured by
reason l)f any pub he records.
({) "land" the land deSCribed, spe-
Cifically or by reference In Schedule A,
and Improvements affixed thereto which
by law constitute real propl.. _y; prOVided,
however, the tenn "land" does not Include
any art~a excluded by Paragraph No. 6
of Part I vf Schedule B of thiS PohC}
(g) "mortgage" mortgage, deed of
trust, tt-ust deed, or other security instru-
ment.
(h) "pubhc records" those records
whIch by law Impart constructive notice
of matters relating to the land.
2. (a) Continuation of Insurance
after Acquisition oC Title by Insured
Lender
If thIS poht.y Insures the owner of the
indebtednes~ secured by the Insured mort-
gage, thiS poltcy sho'!l continue III force
as of Date of Policy In favor of such in-
sured who acquires all or any part of the
estate or mterest In the land desCribed
in Schedule A b} foreclosure, trustee's
sale, COnveyance In heu of foreclosure, or
other l~gal manner whICh discharges the
hen of the Insured mortgage, and If such
insured IS a corporatIOn, ItS transferee of
the esta.te or Interest so acqUired, prOVided
the transferee IS the parent or wholly
owned SubSIdiary of such insured; and in
fa\or of any governmental agency or tn-
strumentahty which acqUIres all or any
part of the egtate or mterest pursuant to
a contract of tnsurance or guaranty m.
surtnj:; or p;uaranteetnp; the Indebtedness
secured by the Insured mortgage. After
any such acqUISition the amo _.It of msur.
ance hereunder, exclUSIVe of costs, attor.
neys' fees and expenses which the Company
may be obligated to pay, shall not ex-
ceed the least of:
h) the amount of msnrance stated in
Schedule A,
(11) the amount of the unpaid prin-
Cipal of the mdehtedness plus mterest
thereon, as determmed under paragraph
6(a) (lid 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
(ltd the amount paid by any govern.
mental ar;ency or tnstrumentahty, If SUC~l
a~ency or Instrumentaht), IS the IOsur~d
claImant, in acqUIsition of such estate or
Interest In satisfactIOn of Its Insurance
contract or ~uar.anty
(b) Continuation oC Insurance
aCter Conveyance of Title
The coverage of thiS policy shall continue
in force as of Date of Poltcy, tn favor of
an Insured so long as such Insured retains
an estate or interest m the land, or owns
an mdehtedness secured by a purchase
money mortgaJ!:e given by a purchaser
from such msured, or so long as such m.
sured shall have habillty by reason of
covenants of warranty made by such in
sured tn any transfer or conveyance of
~uch estate or mterest; prOVided, howevel,
thiS pohcy shall not conttnue In force III
favor of any purchaser from such Insured
of either said estate or Interest or the tn-
debtedness secured by a pun-hase money
mortgage given to such insured
3. Defense and Prosecution oC Ac-
tions-Notice oC Claim to be Given
by an Insured Claimant
(a) The Company, at ItS own cost and
Without undue delay, shall pro\'lde for the
defense of an msured m litigatIOn to the
extent that such litigatIOn Involves an
alleged defect, lien, encumbrance or other
matter Insured against by thiS pohcy.
(b) The Insured shall noufy the Com-
pany promptly In writmg (I) In case of
any htlj:;atlon as set forth In (a) above,
(II) In case knowledge shall come to an
insured hereunder of any clum of tItle
or Interest which IS adverse to the title
to the estate or mterest or the hen of the
Insured mortgage, as Insured, and which
mIJ:"ht cause loss or damage for whJch the
Company may be liable by virtue of thIS
policy, or (III) If title to the estate or tn.
terest or the lIen of the msured mortgage,
as Insured, IS rejected as unmarketable
If such prompt notice shall not he j:;1\en
to the Company, then as to such Insured
all liability of the Company shall cease
and termmate III regard to the matter or
matters for whujh such prompt notice
is reqUired, provided, however, that fall.
ure to notify shall In no case prejudice
the TIghts of any such insured under thiS
poltcy unless Ihe Company shall be pre-
judiced hy such faliure and then only
to the e"(tent of such prejudice
(c) The Company shall have the rIght
at its own cost to mstltute and Without
undue delay prosecute any actIOn or pro-
ceedmn or to do any other act whICh 10
Its opiOlon may be necessary or desir-
able to estabhsh the title to the estate
or Interest or the hen of the Insured mort.
~aj:!;e, as Insured, and the Company may
take any appropriate action, whether or
not It shall be hable under the terms of
this pohcy, and shall not thereby con-
cede ha1)111ty or waive llny prOVision of
thIS policy
(d) Whenever the Company shall have
brou~ht any action or interposed a defense
as required or permitted by the proVISions
of this pohcy, the Company may pursue
any such litl~ation to final determlnatlon
by a court of competent Jurisdiction and
expressly reserves the TIght, m Its sole
discretIOn, to appeal from any adverse
jud~ment or order
(e) In all cases where this policy per-
mits or requires the Company to prose.
cute or prOVide for the defense of an}
action or proceeding, the Insured here-
under shall secure to the Company the
rlp;ht to so prosecute or prOVide defense III
such actIOn or proceeding, and all appeals
therem, and permit the Company to use,
at Jt<; oplion, the name of such msured
for such purpose Whenever requested by
the Company, such insured shall give tbe
Company, at the Company's expense. all
reasonable aId (I) In any such actIOn or
proceeding III effeclmg settlement, secur.
mg eVidence, obtammg Witnesses, or prose_
CUtlllg or defendmg such actIon or pro.
ceedmj:;, and (2) m any other act whl('h
In -the opinIOn of the Company may he
necessary or desirable to establIsh the
title to the estate or interest or the hen
of the Insured mortgage, as Insured, In.
eluding hut not hmIled to execlltmg cor-
rective or other documents
4. ProoC of Loss or Damage. Limi.
totion oC Action
In addition to the notices reqUired un-
der Para~raph 3(b) of these ConditIOns
and StlpulatioAs, a proof of loss or dam-
age, slJ!;ned and sworn to by the msured
claimant shall he furnished to the Com-
pany withm 90 da.ys after the lllSU ed
claImant shall ascertain or determine the
facts glvmJ!: rise to such loss or damage
Such proof of loss or damage shall de-
scnbe the defect In, or hen or encum.
brance on the title. or other matter In
sured ap;ainst by thiS pohcy which con-
stItutes the hasls of loss or damage, and,
when appropnate, state the baSIS of cal-
culating the amount of such loss or dam-
aee
Should such proof of loss or damage
fall to state facts sufficH~nt to enahle the
Company to determine Hs habllIty here-
under, Insured claimant, at the written
request of Company, shall furmsh "uLh
additIOnal mformatlon as may rea..onahly
he necessary to make such determma.ion
No TlJ!ht of actIOn shall accrue to in-
sured claimant until 30 days after sudl
proof of loss or damage shall have heen
furmshed
Failure to furnish such proof of loss or
dama~e shall terminate any hablhtr of
the Company under thiS poilcy as to such
loss or damage
5. Options to Payor Otherwise
Settle Claims and Option!l to Pur-
cho!le Indebtedness
The Company shall have the optIOn to
(Condll1or.s and Stipulahons Contmued and Concluded on Last J;'age of tb.IS Poltcy)
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Standard Coverage Pohcy-1973
SCHEDULE A
Date of
rohcy:
Amount of Insurance: S 2,000.00
December 9, 1974 at 7:30 A.M.
Policy No:
Charge S
7216209-45
50.00
1 Name of Insured:
CITY OF ARCADIA
2. The estate or interest m the land described herem and which is covered by this polIcy is:
A fee simple
:1. The e~tate or mterest referred to herein is at Date of Policy vested 10:
CITY OF ARCADIA
'1. The land referred to in this policy is situated m the State of California, County of
and dc~cnLcd as follows:
Los Angeles
That portion of Lot 34 in Block 82 of Arcadia Santa Anita Tract, in the
City of Arcadia, as shown on map recorded in Book 15 Pages 89 and 90 of
Miscellaneous Records in the office of the County Recorder of said
County, described as follows:
Beginning at the Northwesterly corner of said Lot; thence Easterly along
the Northerly line of said Lot a dista~ce of 151.60 feet to the North-
easterly corner of said Lot; thence Southerly along tqe Easterly line
of said Lot to the Southerly line of the Northerly 6.00 feet of said
Lot; thence Westerly along said Southerly line to the beginning of a
tangent curve concave Southeasterly having a radius of 15.00 feet,
said curve also being tangent at its Southerly terminus to the Westerly
line of said Lot; thence Southwesterly along the arc of said curve to
said Southerly terminus; thence Northerly along the Westerly line of
said Lot to the point of beginning.
.
P-ZII:I-B (G::; ) Kev 1:1-./3
Cahfornla Land TI tie Association
Standard Coverage Pohcy-I973
SCHEDULE B
This policy does not Insurc against loss or damage, nor against costs, attorneys' fees or expenses, any
or all of whICh ame by reason of the following:
PART I
1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies
taxes or assessments on real property or by the public records.
Proceedings by a public agency which may result in taxes or assessments, or notices of such proceedings,
whether or not shown by the records of such agency or hy the public records.
2. Any facts. rights, interests or claIms which are not shown by the public records hut which could be ascertained
by an H1spectlOn or the land or by makmg inqUiry of persons In possession thereof.
3. Easements, hens or encumhrances, or claims thercof, which are not shown by the public records.
4. Discrepancies, conflicts 111 houndary lines, shortage in area, encroachments, or any other facts which a correct
survey would disclose, and whIch are not shown by the public records.
5. (a) Unpatented nUlllng claims; (b) reservatIOns or exceptIons in patents or in Acts authorizing the Issuance
thereof; (c) waler righls, claIIns or tItle to water.
6. Any right. Litle. lIlteresL estate or easement in land beyond the hnes of the area specifically descnbed or referred
to in Schedule A, or III ahuttIng streets. roads, avenues. alleys, lanes, ways or waterways, but nothing in this
paragraph shall modIfy or limit the extent to winch the ordlllary right of an abutting owner for accesS to a
phYSIcally open street or 11Ighway is Insured by thiS policy.
7. Any law. ordinance or governmental regulatIOn (Including but not limited to building and zoning ordinances)
restricting or regulating or prohIbiting the occupancy, use or enjoyment of the land, or regulatIng the character,
dlmenslOns or locatIOn or 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 domalll or governmental nghts of police power unless notice of the exercise of such rights
appears. In the publiC records
9. Defects, liens, encumbrances, a(kerse claims, or other matters (a) created, suffered, assumed or agreed to by
the 1115ured claimant; (b) not shown by the public records and not otherwise excluded from coverage but known
to the lllsured claimant either at Date of Poiley or at the dale such claimant acqUIred an estate or interest
insured by this policy or acquired the Insured mortgage and not dIsclosed in \\'nting by the Illsured claimant
to the Company pnor to the date such insured c1allnant became an lflsured hereunder; (c) resulting in nO loss
or damage to the Insured claimant; (d) attaclung or created subsequent to Date of Policy; or (e) resulting
in loss or damage which would not have been sustallled If the insured claimant had been a purchaser or encum-
brancer for value Without knowledge.
(Schedule B continued on next page of th,s Policy)
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PART II
1. General and special County and City taxes for the fiscal
year 1974-1975, including personal property taxes, if any:
Total $2049.68
First Installment 1024.84
Personal property taxes: none
Penalty 61.49
Second Installment 1024.84
Affects: this and other property
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.
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IN'O"MATION ONl,Y 'IItOM DATA SHOWN BV O"IC''''L ~!COROi
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CONDITIONS AND STIPULATIONS (Continued and Concluded From .Reverse ~i1de of Policy Face)
payor otherwIse settle for or in the name
of an insured claimant any claim Insured
attamst, or to terminate all habtlity and
obhA"atlOns of the Company hereunder hy
paying or tendering payment of the
amount of IOsurance under this pohcy
together with any costs, attorneys' fees
and expenses IOcurred up to the time of
such payment or tender of payment by the
insured claImant and authorized hy the
Company In case loss or dama~e IS
claimed under thiS pohcy by the owner
of the mdebtedness secured by the insured
mortgage, the Company shall have the
further option to purchase such mdebted.
ness for the amount owmg thereon to-
gether With all ('osts, attorneys' fees and
expenses which the Company is obligated
hereunder to pay. If the Company offers
to purchase said mdebtedness as herem
prOVided, the owner of such mdebtedness
shall transfer and assign said mdebtedness
and the mortgage and any collateral se.
curing the same to the Company upon
payment therefor as herem proVIded Upon
such offer b~lng made by the Company,
all hablhty and obligations of the Com-
pany hereunder to the owner of the in-
debtedness secured by said msured mort-
~age, other than the obhgdtlon to pur-
chase said Indebtedness pursuant to thiS
paragraph, are termmated.
6. Determination and Payment of
Lo..
(a) The liability of the Company
under this policy shall In no CDse exceed
the least of
(i) the actual loss of the Insured
claimant, or
(ii) the amount of insurance stated
in Schedule A, or, If applicable, the
amount of msurance as defined In para-
graph 2 (a) hereof, or
(iu) If thiS POlICY insures the owner
of the mdehtedness secured by the insured
mortgage, and provided said owner IS the
msured claimant, the amount of the un-
paid prinCipal of said indebtedness, plus
interest thereon, prOVIded such amount
shall not Include any additIOnal prmclpal
mdebtedness created subsequent to Date
of Pohcy, except as to amounts advanced
to protect the hen of the insured mortgage
and secured therehy.
(b) The Company WIll pay, In ad.
ditlOn to any loss insured against by thIS
pohcy, all costs Imposed upon an Iflsured
In litigation earned on by the Company
for such insured, and all costs, attorneys'
fees and expenses In litigation carrIed on
by such Insured With the written author.
ization of the Company
(c) When the amount of loss or dam.
a~e has been dellmtely fixed 10 accor-
dance With the conditions of thIS policy,
the loss or dama~e shall be payable with-
in 30 days thereafter.
7. Limitation of Liability
No claim shall aTlse or be maIntaltlable
under this pohcy (a) If the Company,
after having receIVed notice of an alleged
defect, hen or encumbrance msured
against hereunder, by litigatIOn or other-
Wise, removes such defect, hen or em,um-
brance or estabhshes the title, or the hen
of the Insured mortji!;age, as Insured, with.
In a reasonable tIme after receipt of ~uch
P-218 (G S) Rev 8.93
notice: (b) in the event of htl~atlon untIl
there ha<; heen a final determmatlOn by
a court of competent }unsdl\:.tlon, and
dIspositIOn of all appeals therefrom, ad-
verse to the title or to the hen of the in-
sured mortp;ag:e, as Iflsured, as proVIded
In paragraph 3 hereof, or (c) for liability
voluntarIly admitted or assumed by an
msured without prior Written consent of
the Company
8. Reduction of Insurance j Termin.
ation of Liability
All payments under this pohc)', except
payment made for costs, attorneys' fees
and expenses, shall reduce the amount of
the Insurance pro tanto, prOVided, how.
eloer, If the owner of the Indebtedness
se{'ured hy the msured mortgage IS an m.
sured hereunder, then such payments,
pTlor to the acquisitIOn of litle to said
estate or Interest as prO\lded In paragraph
2(a) of these ConditIOns and StipulatIOns,
shall not reduce pro tanto the amount of
the Insurance afforded hereunder as to any
such Insured, except to the extent thllt
su{'h payments redu{'e the amount of the
mdebtedness sel,Ured by such mortgage
PlIyment m full by any person or vol-
untary so.tlsfactloIl or release of the 10-
sured mortgage shall terminate all habll-
Ity of the Company to an Insured owner
of the mdebtedness secured by the Insured
mortgage, except 8S proVided In paragraph
2(a) hereof
9. Liability Noncumulative
It IS expressly understood that the
amount of lJl~uranre under thIS pohey, as
to the Insured owner of the estate or
mterest covered by thIS pohcy, shall he
reduced hy any amount the Company may
pay under any pohcy inSUrIng (a) a
mortgage shown or referred to in Schedule
B hereof whICh IS a lien on the estate
or interest covered by thiS pohcy, or (b)
a mortgage hereafter executed by an
insured whICh IS a charj2;e or hen on the
estate or mterest deSCrIbed or referred to
In Schedule A, and the amount so paid
shall be deemed a payment under thIS
polll y. The Company shall have the optIOn
to apply to the payment of any such mort-
gage any amount that otherwise would
be payable bereunder to the insured owner
of the estate or Interest covered by thl<;
policy and the amount so paid shall be
deemed a payment under this polIcy to
said msured owner.
The prOVISions of thiS parsj2;raph 9 shall
not appl} to an owner of the mdehtedness
secured by the Insured mortgage, unlChS
such Insured acqUires tide to said estate
or mterest III <;atl<;fa('tlOn of saId mdeht.
edne~s or nn)' part thereof
10. Subrogation Upon Payment or
Settlement
Whenever the Company shall have paId
or settled a (Ialm under this pohcy, all
Tlj2;ht of suhroJ:atlOn shall lo'est In the Com-
pany unaffe{'ted by any act of the Insured
{'llllmllnt, except that the owner of the In-
debtedness sc{'ured by the Insured mort-
~age may releu'ie or substitute the per-
sonal hablllt} of any debtor or guarantor,
or extend or otherWise modify the terms
of payment, or release a portion of the
estate or ,"terest from the hen of the
insured mort~age, or relellse any collateral
securIty for the Indebtedness, prOVided
such act occurs pnor 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 pnorIty of the hen of
the insured mortgage and does 110t result
In any loss of prlonty of the hen of the
insured mortgage The Company "hall he
suhrogated to and be entitled to all rights
and remedIes which such msured claimant
would have had agamst any person or
property 10 respect to such claim had thiS
polICY not lIeen Issued, and the Company
IS hereby authoTlzed and empowered to
sue, compromise Or settle In Its name or In
the name of the Insured to the ftIll extent
of the loss sustained by the Company
If requested by the Company, the Insured
shall execute any and all documents to
eVIdence the WIthin subrogation If the
payment does not cover the loss of such
Insured claimant, the Company shall be
suhrogated to such TIghts and remedies
In the proportIOn which saId payment
bears to the amount of said loss, but such
subrogation shall be m subordulatlon to
an Insured mortga~e If loss should result
from any act of such insured claimant,
such act shall not VOid thiS pohcy, hut the
Company, m that event, 'ihall as to such
msured claImant be reqUired to pay only
that part of -any losses msured agaInst
hereunder which shall ex{'eed the amount,
If any, lost to the Company by reason of
the Impairment of tho right of subrogation.
11. Liability Limited to thiIJ: Policy
This Instrument together With all en-
dorsements and other mstruments, if any,
attached hereto by the Company is the
entire pohcy and contract between the
lIlsured and the Company
Any claim of loss or damage, whether
or not based on ne~hgence, and which
arises out of the status of the lien of the
Insured mortgage Or of the title to the
estate or mterest covered hereby; or any
action asserting such claim, shall be re-
stricted to the provu.;ons and rondlllons
and stIpulations of this pohcy.
No amendment of or endorsement to thiS
poltcy can be made exrept by writing en.
dorsed hereon or attached hereto signed
hy either the PreSIdent, a Vice President,
the Secretary, an ASSistant Secretary, or
vahdating officer or authOrized signatory
of the Company
No payment shall be made Without pro-
duclllA" thIS pohcy for endorsement of such
payment unless the policy he lost or de-
stroyed, In which {'ase proof of such loss
or destrucuon shall be furnished to the
satisfaction of the Company
12. Notice!!. Where Sent
All notices req\llred to he given the
Compo.ny and an} statement In WrIting
reqUIred to be furnished the Company
shall be addressed to It at the office
which Isslled thiS poh{'y or to ItS Home
Office, 13640 RO'i{'oe Bouleloard, Panorama
City, Callfornlll 91409.
13. THE CHARGE SPECIFIED IN
SCHEDULE A IS THE ENTIRE
CHARGE FOR TITLE SEARCH,
TITLE EXAMINATION AND TITLE
INSURANCE.