HomeMy WebLinkAboutD-1805
On August 11, 1971 before me, the undersigned, a Notary Public
in and for said State, personally appeared Peter Schade and
Fred Bracht, known to me to be both of the partners of the
partnership that executed the within instrument, and acknowledged
to me that ,such partnership executed the same.
WITNESS my hand and official seal,
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STATE OF CALIFORNIA
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COUNTY OF LOS ANGELES
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OFFICIAL SEAL
FLORENCE E, NEERGARD
NOTARY PUBLIC, CALIFORNIA
LOS ANGELES COUNTY
MyCommission ExpiresMar.4,1972
p, O. Box 60, Arcadia, Calif.
BK05226pc403
CERTIFICATE OF ACCEPTANCE
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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 August 11, 1971 , from or executed
by P & F Motors, a partnership , 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
authorize officers.
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City Engineer
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The
is hereby
approved as to form,
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~!:~c:E AB~":)E i':-~!.~~~~~Ey~,\,..,~~lMe.uS.~, "
o COMPUTED ON FULL VALUE OF PROPERTY CONVEYED, 0;'
o COMPUTED ON FULL VALUE LESS LIENS & ENCUMBRAn.
CES REMAINING THE.1lEON AT TIME OF SALE,
.~.J/i;J. ~,~..~J.G.~.Id.l!.lr..'J.,:D.T.J..E.I.#.5."'~MK{; C (I,
-sil;;;~;; of d:;:;:l;t or agent determining tax - firm name
~ AFFIx I.R,SQ,IJ.n.\e'!'J,!".at"11<Pnils Bff8\' 01...&.:,3..1/.1................ ........
.~v,,.RECORDING R.EQUE6!ED BY
~:,~.L~,--- "'CITY OF ARCADIA
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AND WHltN R1!:CORDltD "'AIL TO
I City Clerk
Nom.
S,....t P. O. Box 60
Addr."
City & Arcadia, California
Sial. L
MAll TAX STATEMENTS TO
I City of Arcadia
Nom_
S'r..'
Addrou
City &
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RECORDED IN OFFICIAL RECORDS
OF LOS ANGELES COUNTY, CALIF,
OR SECURITY TITLE INSURANCE CO,
OCT 18 1971 AT 8:01 A,M,
Registrar.Recorder
\ FREE d.-E \
Grant Deed
THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY
TO .cQS C
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
P & F MOTORS, a partnership
Free reCOrding requested und '
Gov. Code 6103. Document
necessary due to City acquiri g
title,
hereby GRANT(S) to the CITY OF ARCADIA, a Municipal Corporation
the following described real property in the
County of Los Ange les
City of Arcadia
, State of California:
The Westerly 10 feet of Lot 34, Block 83, of Arcadia Santa Anita Tract, in the City
of Arcadia, Book 15, Pages 89 and 90 of Miscellaneous Records, in the office of the
County Recorder.
'\ EXCEPTING the North 3.65 feet of said Lot.
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Dated
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known to me
subscribed to the within
executed the saml:'".
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Name (Typed or Printed) ,
Signature
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Tille Order No,
MAIL TAX STATEMENTS AS DIRECTED ABOVE
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P & F MOTORs, a partnership
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OFFICIAL SEAL
FLORENCE E, NEERGARD
NOTARY PUBLIC. CALIFORNIA
LOS ANGELES COUNTY
MyCommisslOn ExprresMar.4.1972
P. O. Box 60, Arcadia. Calif.
(This u",a for omclal notulallleal)
Escrow or Loan No,
MARK H. BLOODGOOD
AUOITOR-CONTROL.L.ER
COUNTY OF LOS ANGELES
DEPARTMENT OF AUDITOR,CONTROLLER
153 HALL OF ADMINISTRATION
LOS ANGELES, CALIFORNIA 90012
625.3611
September 19, 1972
Cityof Arcadia
240 West HUntington Drive
Arcadia, California 91006
Attention: Robert D. Ogle, City Attorney
SUBJECT: First Avenue
Parcel No. 12
Gentlemen:
Pursuant to your lett~r dated November 17, 1971,
taxes have been cancelled in accordance with SActio~
4986 of the Reve~ue and Taxatio~ Ceode. This cancel-
lation was eordered by the Honorable Beoard ~f Super-
visors Feb. 18, 1972, by Authorization No. 26661.
V"ry truly yours,
MUL~ H. BL00DC-oOD, Auditcr-c~ntroller
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By Edward Gu!Orrero, Chief, Tax Division
EG/MG/tc
P 4-,J "'YruJ.~
Tax Div. ffc-11 8/72
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ROBERT A. GJL.L.
CHIEF DEPUTY
E, GUERRERO
CHIEF, TAX DIVISION
RECEiVED
s!:p 20 1972
.CITY OF ARCAOI,c\
CITY .o.rrORN!="Y
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AND WHEN RECORDED MAIL. TO
RECORDED IN OFFICIAL RECORDS
OF LOS ANGELES COUNTY, CALIF.
FOR SECURITY TITLE INSURANCE CO.
OCT 18 1971 AT 8;01 A,M,
Registrar.Recorder
Name 1"
Street
Address
SECURl1Yl,l,l~~ \NS~RI'INCE COMPI'IN'i
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(;ty
State L
Zip
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SPACE ABOVE THIS LINE FOR RECORDER'S U5E-
'nrtinl irrnnurynurr
I FREE 1 E J
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WHEREAS, BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, a national bank.
ing association, organized and existing under the laws of The United States of America, as Trustee under Deed of Trust
dated ...June..14th"......."............, 1966"" made by ..P.&..F..Motors.,...a..ParlnEl-I'sllip.....................................
::::::::::::::~~.:~.::::::::::::::::::::..;~:::66.::..i~.~~'~~.:~~~t~:;~~302~:64i:.~;.O!f~;;,;:~~=:~:d.~e~~t~~~
in the ollice of the Recotder of the ............................ County of .............Los..Angeles............................, California,
has received from Beneficiary thereunder a written request to reconvey, in accordance with the terms of s3id Deed of
Trust, the estate now held by said Trustee under said Deed of Trust in and to the hereinafter described p,"openy, said
Beneficiary having presented said Deed of Trust and note or notes secured thereby for endorsement;
NOW THEREFORE, in accotdance with said request and the provisions of said Deed of Trust, BANK OF
AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, as Trustee, does hereby reconvey, without war,
rancy, to THE PERSON OR PERSONS LEGALLY ENTITLED THERETO, the estate now held by it thereunder in
and to that portion of the-property described in said Deed of Trust, situate in the __...____..............................................
County of ............ .....-:.....,.., ...............Las~.Angeles............:...........,......,............................, California, described as:
The lfesterly 10 feet of Lot 34, Block 83, of Arcadia Santa Anita Tract, in the
City of Arcadia, Book 15, Pages 89 and 90 of Miscellaneous Records, in the
office of the, County Recorder.
EXCEPTING the North 3.65 feet of said Lot.
Free recording requested IZIIflIIe ,
Gov. Code 6103. Document
necessary due to City acqu~
~+l-e,
Dated: ....September..27.......... ........" 19.11....
BANK OF AMERICA NATIONAL TRUST AND
::VINGS ASSOCIATION, as~,~.,
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STAT~.,~~.,~~.L~:~n~~:~ '~la.,Angel6S...n.".,.,.,.,...,.,J~". Trust Administrator ~g
onSep.tember..2Z.........., 19-7.1...., before me, the undersigned, a NOtary Public in and for said.-Los.,J\ngeles.......
County and State, personally appeared ........................................... .....,.............'.... .............9.Q~9:r.I:l'(..S.c:I:lI9[..WrlUAMES..............,
~~~:~ :~ :::~ t~ ~: t~e~1~~~~~ OF.,A1fiiRicANATi6NAi:TRusT.,~~E~viNGs.,AssoCi~Ti6N:
the n3tion:l1 banking association that executed the within instrument as Trustee, and known to me to be the persons who exe-
cuted (he same on behalf of the nation31 banking association therein named, and acknowledged co me that such national banking
:;:~:: :;c:::: ~:: s:;:ia~s'::lustee,............~.......~........::...a~YX~>C,.,......
lid c:
NOtary Public in and-for,;id ..;l.c:l.s...Mgeles... ... Count)' and St",e,
My Commi.ssion expires _ . .-_ _ '" 19.
No, ......,?69901...,
OFFICIAL SEAL
AIDA G, PAZ
NOTAR'\' ~UBLlC-CAUFORNtA
LOS ANGEl.ES COUNTY
MyCommlsslQn E'(plresAug, 4,1975.
Ttu.14H
7.139
DE~~RiPTIbN: u.....J-L.o....li .._-. - ..~ --; n o.!"...- -_""'--' ~~ < .. ..."-,,
~ I / LOT-SEC BLK-TWP TRACT-RNG BOOK PAGE MP. CO
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Arcadia Santa Anita Tr. Ptn. 34 83 ARC 15 89 4
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ORDERED BY:
CODE:
A 141A
TYPE OF ORDER:
LIABILITY: S
CITY OF ARCADIA,
240 1-1. HUNTINGTON DRIVE
ARCADIA, CALIFORNIA '
TO INSURE:
OWNER:
P. & F. MOTORS
(run from 5-10-70)
<1lL
ATTN: CHESTER N. HOWARD
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S.CUArr'Y
TITLE
BUYER:
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S~s;,~~lr'!vA!ITLE INSURANCE lS?Ro~EF:'O~E~R)W & /t
LOS ANGELES. CALIFORNIA 90054 PANORAMA CITY, CALIF. 91409 CJ
TELEPHONE 381.3111 TEL.EPHONE 181-3650
We acknowledge wi1h o'pprecio1ion your order tor title work on the property described above. It will receive OUf prompt o11ention.
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CLTA.1963
AMENDED 1969
STANDARD COVERAGE
POLICY OF TITLE INSURANCE
i"ued hy
SECURITY TITLE INSURANCE COMPANY
Security Title Insurance Company, a California corporation: herein called the Company, for a valuable
consideration paid for this policy, the number, the effective date, and amount of which are shown in
Schedule A, hereby insures the parties named as Insured in Schedule A, the heirs, devisees, personal
representatives of such Insured, or if a corporation, its successors by dissolution, merger or consol.
idation, against loss or damage not exceeding the amount stated in Schedule A, together with costs,
attorneys' fees and expenses which the Company may become ohligated to pay as provided in the
Conditions and Stipulations hereof, which the Insured shall sustain by reason of:
1. Any defect in or lien or encumhrance on the title 10 Ihe estale or inlerest covered hereby in the
land described or referred 10 in Sehedule A, exisling at the dale hereof. 1101 shown or referred to
in Schedule B or excluded frolll ('overage in Schedule B or in the Conditions and Stipulations;
or
2. Unmarkelabilil)' of stich title: or
:-t Any defect in the execution of an)' morq:!:age shown ill Schedule B securing an indebtedness, the
owner of which is named as an In:.ured ill Schedule A, but only insofar as suc:h defect sHects the
lien or charge of said 1l1Ort~ap::e upon the estdte or interest referred 10 in Ihis policy: or
4. Priority o'oer said mortgage, at the date hereof, of an)" lien or encumhrance nol shown or referred
to in Schedule R, or exeluded from coverage in Ihe Conditions and Stipulations, said mortgage
being shown ill Schedule R III the'ol"der of its priorily;
all subject, however, to the provisions of Schedules A ano R and to the Conditions and Stipulations
hereto annexed.
In Witness Whereof, Security Title Insurance Company has caused its corporate name and seal to be
hereunto affixed by its duly authorized officers on the date shown in Schedule A.
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Secretary
President
An Authorized Signature
P-218 (OS.) ~s.,..orft'ur'ftc.C_t"''''''''....,A.gl.I...<lT',_'k_,.
CONDITIONS AND STIPULATIONS
1. Definition of Terms
The following terms when used ill this
policy mean:
(a) "land": the land described, spe-
cifically or by reference, in Schedule A
Ilnd improvements affixed thereto which by
law constitute real property;
(b) "public records": those records
which impart constructive notice of mat-
ters relating to said land;
(e) "knowledge": actual knowledge,
not constructj"'e knowledge or notice which
may he imputed to the Insured by reason
of any public records;
(d) "date": the effective date:
(e) "mortgage" : mortgage, deed of
trust, trust deed, or other security instru-
ments; and
(f) "insured": the party or parties
named as Insured, and if the owner of
the indehtedness secured by a mortgage
shown in Schedule B is named as an
Insured in Schedule A, the Insured shall
include (1) each successor in interest in
ownership of such indebtedness, (2) any
such owner who acqUires the estate or
interest referred to in this policy by fore-
closure, trustee's sale. or other legal man-
ner in satisfaction of said indehtedness,
and (3) any federal agency or instrumen-
tality which is an insurer or guarantor
under an insurance contract or guaranty
insuring or guaranteeinv; said indebtedness,
or any part thereof, whether named as
an Insured herein or not, suhject other-
wise to the provisions hereof.
2. Benefits after Acquisition of Title
If an insured owner of the indebtedness
secured by a mortgage described in Sched-
ule B acquires said estate or interest, or
any part thereof, by foreclosure, trustee's
sale or other legal manner in satisfaction
of said indebledness, or any part thereof,
or if a federal agency or instrumenlahly
acquires said estate or interest, or any
part thereof, as a consequence of an in-
surance conlract or I!uaranty insuring: or
guaranteeing the indebtedness secured by
a mortgage covered by this policy, or any
part thereof, this policy shall continue in
force in favor of such Insured, agency or
instrumentality, subject to all of the con-
ditions and stlPulalions hereof.
3, Exclusions from the Cm!erag:e of
this Policy
This policy does not insure against loss
or damage by reason of the following:
(a) Any law, ordinance or govern-
mental regulation (including but not lim-
ited to building and zoning: ordinances)
restricting or regulating or prohibiting the
occupancy, use or enjoyment of the land,
or regulating the character, dimensions, or
location of any improvement now or here-
after erected on said land, or prohibiting
a separation in ownership or a reduction
in the dimensions or area of any lot or
parcel of land.
(b) Governmental rights of police
power or eminent domain unless notice
of the exercise of such rights appears in
the puhlic records at the date hereof.
(c) Title to any property beyond the
hnes of the land expressly descrihed in
Schedule A, or title to streets, roads,
avenues, lanes, ways or waterways on
which such land abuts, or the right to
maintain therein vaults, tunnels, ramps or
any other structure or improvement; or
any rights or easements therein unless this
policy specifically provides that such
property. rights or easements are insured,
except that if the land abuts upon one or
more physically open streets or highways
thig policy insures the ordinary rights of
ahutting owners for access to one of such
streets or hil!hways, unless otherwise ex-
cepted or exdudcd herein.
(d) Defects, liens, encumbrances, ad-
verse claims against the title as insured or
other matters - (I) created, suffered, as.
sumed or agreed to by the Insured claim-
ing loss or damage; or (2) known to the
Insured Claimant either at the date of this
policy or at the date such Insured Claim-
ant acquired an estate or interest insured
by this policy and not shown by the public
records, unless disclosure thereof in writ-
ing by the Insured shall have heen made
to the Company prior to the date of this
policy: or (,'n resultinj!: in 110 logs to the
Insured Claimant: or (4) attaching: or
created subsequent to the dale hereof.
(e) Lo~s or damap:e which would not
have heen sustained if the Insured were
a purchaser or encumhrancer for value
without knowledge.
(f) Any "consumer credit protection",
"truth in lending" or similar law.
4, Defense and Prosecution of Ac-
tions ~ Notice of Claim to be Given
by the Insured
(a) The Company, at its own cost and
without undue delay shall provide (I) for
the defense of the Insured in all litigation
consisting of actions or proceedings com-
cenced ag:ainst the Insured. or defenses,
restraining orders, or injunctions inter-
posed against a foreclosure or sale of the
mortg:ap:e and indehtedness covered by thiS
policy or a sale of the estate or interest
in said land; or (2) for such action as
may be appropriate to establish the title
of the estate or interest or the lien of the
mortp:ap:e as insured, which litigation or
action in any of such events is founded
upon an alleged defect, lien or encum-
brance insured against by this policy, and
may pursue any litigation to final delerm.
ination in the court of last resorl.
(b) In case any such action or pro.
ceeding shall be begun, or defense inter-
posed, or in case knowledge shall come to
the Insured of any claims of title or in.
terest which is adverse to the title of the
estate or interest or lien of the mortgage
as insured. or which might cause loss or
damage for which the Company shall or
may lle liable by virtue oC this policy, or
if the Insured shall in good failh contract
to sell the indebtedness secured by a mort-
gage co\ered by this policy, or, if an
Insured in good faith leases or eontracts
to sell, lease or mortgage the same, or if
the successful bidder at a foreclosure
sale under a mortgage covered by this
policy refuses to purchase and in any
such event the title to said estate or in.
terest is rejected as unmarketahle, the
Insured shall notify the Company thereof
in writinp:. If such notice shall not he
given to the Company within ten days of
the receipt of process or pleadings or if
the Insured shall not, in writing, prompt:y
nOlify the Company of any defect, lien
or encumbrance insured against which
shall ('orne to the knowledge of the In-
Silted, or If the Insured shall not. in
writing:, promptly notify the Company of
any such rejer.tion by reason of claimed
unlTlarketahility of title, then all liability
of the Company in regard to the subjeC't
matter of such action, proceeding: or
matter shaH <"ease and terminate; pro-
vided, however, that failure to notifv
shall in no case prejudice the claim o"f
any Insured unless the Company shall
be actually prejudiced by such failure
and then only to the extent of such
prejudice.
(c) The Company shall have the ril!ht
at its own cost to im:titute and prosecute
any action or proceeding or do any other
act which in it~ opinion may be necessary
or desirahle to establish the title of the
estate or interest or the lien of the mort-
gage as insured: and the Company may
take any appropriate action under the
term~ of this policy whether or not it
shall he liable thereunder and shall lIot
thereby ('oncede liahility or waive any
provision of this policy.
(d) In all cases where this policy
permits or requires the Company to prcs.
ecute or provide for the defense of allY
action or proceeding, the Insured sh.:J.1l
secure to it the rig:ht to so prosecute or
provide defense in such action or pro.
ceeding:, and all appeals therein, and per.
mit it to use, at its option, the name of
the Insured for such purpose. Whenever
(Conditions and Stipulations Continued and Concluded on Last Page of This Policy)
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P.218.A (G,S.) Rev.
California Land Title Association
'Standard 'Coverage Policy Form
COPYright t963
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SCHEDULE A
Effective
Date:
, Amount of liability: S 2,000.00
October, 18, 1971 at 8:01 A,M.
Policy No:
Premium S
7003781
40.00
INSURED
CITY OF ARCADIA,
a Municipal Corporation
1. The estate or interest III the land described or referred 10 ill thi:-. ~chedule covered hy this policy IS:
a fee
2. Title to the estate or interest covered by this policy al the daLe hereof is vested in:
,
CITY OF ARCADIA,
a Municipal Corporation
:;, The land referred 10 in thi,s policy is situated in Ihe State of California, County of Los Angeles
and is described as follows:'
The Westerly 10 feet of Lot 34, Block 83, of Arcadia Santa
Anita Tract, in the City of Arcadia, Book 15, Pages 89 and 90
of Miscellaneous Records, in the Office of the County Recorder.
EXCEPTING the,North 3.65 feet of said Lot.
.
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California Land TIlle ASSOclolion
Slandard Coverage Poltcy Forml'
COPYright 1953
SCHEDULE II
This I'oli(:y doe~ not in~ure again!'t lo!'" or damage by n~a~on or the following:
PAllT I
1. Taxes or assessments ~\'hich are not ~hown a::l e:\.i~tin.;! liell~ hy the rCI'ord:- of uny t..,illt! authority that le\'ie...
taxes or assessments or real property or hy the puhlic rCI'onl:"
2, Any fads. rights: inlere~(s. or claims \\hil'h are not :,howl1 II)" the Illlhlil' reconb hut \\hich ('ollld l,e a:,("erlained
hy an inspection of said land or by making inquiry of pcr~ons in po......c~sion thereof.
:-L Easements. c1aim::l of e'~sement or encumbran('es which ..lie not showll hy the puhlic record:,.
.1,. Dis<:repancic::l. connicb"in houndary line:,: ::lhorta~c ill area. cllt'loachmcnb. or any other fad~ which a ('orrcct
survey would rli5c1ose~ and ",hieh are not ...ho\\'1l hy the puldil' ICI'onl".
5. Unpatented mining claims; re::len'ation~ 01' e.v'cptioll!' ill patl'lIl:- or in Ad::- authorizing Ihe 1:-::-U<lII('(' thereof;
water rights: claims or title to water,
PAllT II
1,
General and special taxes for the fiscal year 1971-1972,
a lien n9t yet payable.
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I ARCADIA
i SANTA ANITA TRACT
LofJ /-II~q...d $3- 36', B/ot;k 8.3' ,,11,/? /S/83-..90
"Thi:, plat i~ for your ,lid ill !ot:alllll! your land. \~'ilh rr~lert'n('l' to ,,11t'd" alld <1t1lt'r !'afcl.j..... II i~ not a ~ur\'('y. Wid!., 11
"Ial i... bclil.'\t'd t41!w .Ollr,,". till' 1.00111'a1lY a""Ullll',, 110 lialllhl) fl1l ,Ill) I"...... lH"'lllriul! j,~ rr"a",oll nf rchan,," 111,.,.
jj SEr..UP'~v TITLE INSURANCe: COMPANY
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CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
requested by the Company the Insured
shall give the COn;'pany all rea~onab)e
aid in any such actIOn or proceedmg, In
effecting $culement, securing evidence,
obtaining <<itnesses, or prosecuting or de-
fending such action or proceeding, and
the Company shall reimburse the Insured
for any expense so incurred,
5, Notice of Loss - Limitation of
Action
In addition to the notices required under
paragraph 4(b), a statement in writing
of any loss or damage for which it is
claimed the Company is liable under this
policy shaH he furnished to the Company
within sixty days after such loss Of dam.
age shall have been determined and no
right of action shall accrue to the Insured
under this policy until thirty days after
such statement shall have been furnished
and no recovery shall be had by the In-
sured under this policy unless action shall
be commellced thereon within five years
after expirAtion of said thirty day period.
Failure to furnish such statement of Joss
or damagel or to commence such action
within the time hereinbefore specified,
shall he a conclusive har against main.
tenance by" the Insured of any action
under this policy.
6. Option to Pay, Settle or Compro-
mise Claims
The COlllpany shall have the option to
payor settle or compromise for or in the
name of the Insured any claim insured
against or to pay the full amount of this
policy, or, in case loss is claimed under
this poHey hy the owner of the indebted-
ness secured by a mortgage covered by
this policy, the Company shall have the
option to purchase said indebtedness; such
purchase, payment or tender of payment
of the full amount of this policy, together
with all (osts, attorneys' fees and ex.
penses whic.h the Company is obligated
hereunder to pay, shall terminate all
liability of the Company hereunder. In
the event, after notice of claim has been
~i,'en to the Company by the Insured, the
Compan)' offers to purchase said indebt-
edness, the owner of such indebtedness
shall trnnsfer and assign said indebtedness
and the mortAaAe securing the same to the
Company upon payment of the purchase
prire,
7. Puyment of Loss
(a) The Liability of the Company
under this policy shall in no case exceed,
in all, the actual loss of the Insured and
costs and attorneys' fees which the Com-
pany may he obligated hereunder to pay.
(b) The Company will pay, in addition
to any Joss insured against by this policy,
all costs imposed upon the Insured in
litigation ctlrried on hy the Company for
the Insured, and all costs and attorneys'
fees in litigation carried on hy the Insured
P.218 (G,S.l
with the written authorization of the
Company,
(c) No claim for damages shall arise
or be maintainable under this policy (1)
if the Company, after ha,'ing received
notice of an alleged defect, lien or encum-
brance not excepted or excluded here.
in removes such defect, lien or encum.
brance within a reasonable time after
receipt of such no~ice, or (2) for liabilit).
voluntarily assumed by the Insured in
settling any claim or suit without written
consent of the Company, or (3) in the
event the title is rejected as unmarketable
because of a defect, lien or encumbrance
not excepted or excluded in this policy,
until there has been a final detennination
by a court of competent jurisdiction sus-
taining such rejection,
(d) All payments under this policy,
except payments made for costs, attorneys'
fees and expenses, shall reduce the amount
of the insurance pro tanto and no payment
shall he made without producin~ this
policy for endorsement of such payment
unless the policy be lost or destroyed. in
which case proof of such loss or destruc-
tion shall he furnished to the satisfaction
of the Company; provided, however, if
the owner of an indebtedness secured by
a mortgage shown in Schedule B is an
lnsured herein then such payments shall
not reduce pro tanto the amount of the
insurance afforded hereunder as to such
Insured, ex('ept to the extent that sllch
payments reduce the amount of the in-
debtedness secured hy such mort~age.
Payment in full by any person or voluntary
satisfaction or release by the Insured of
a mort~age covered by this policy shall
terminate all liability of the Com pony to
the insured owner of the indebtedness
secured by such mortgage, except as pro-
vided in paragraph 2 hereof.
(e) When liability has been definitel)'
fixed in accordance with the conditions
of this policy the loss or damage shall he
payahle within thirty days thereafter.
8. Liability Noncumulative
It is expressly understood that the
amount of this policy is reduced by ony
amount the Company may pay under any
policy insuring the validity or priority of
any mortgage shown or referred to in
Schedule B hereof or any mortgage here.
after executed by the Insured which is
a charge or lien on the estate or interest
described or referred to in Schedule A,
and the amount so paid shall be deemed
a payment to the Insured under this policy.
The provisions of this paragraph num.
bered 8 shall not apply to an Insured
owner of an indebtedness secured by a
mortga,::e shown in Schedule B unless
such Insured acquires title to said estate
or interest in satisfaction of said indeht.
edness or any part thereof.
9. Subrogation upon Payment or
Selllement
Whenever the Company shaH have
settled a claim under this policy, all right
of subrogation shall vest in the Company
unaffected by any act of the Insured, and
it shall be subrogated to and be entitled
to all rights and remedies which the
Insured would have had against any person
or property in respect to such claim had
this policy not been issued. If the pay.
ment does not Co\er the loss of the In-
sured, the Company shall be subrogated to
such rights and remedies in the proportion
which said payment bears to the amount
of said loss. If loss should result from
any act of the Insured, such act shall
not void this policy, but the Company, in
that event, shall be required to pay only
that part of any losses insured against
hereunder which shall exceed the amount,
if any, lost to the Company by reason of
the impairment of the right of subrogation.
The Insured, if requested by the Company,
shall transfer to the Company all rights
and remedies against any person or prop-
erty necessary in order to perfert such
right of subrogation, and shall permit
the Company to use the name of the
Insured in any transaction or litiftation
involving such rights or remedies.
If the Insured is the owner of the in.
dehtedness secured by a mortgage covered
by this policy, such Insured may release
or substitute the personal liability of an)"
dehtor or ~uarantor, or extend or other.
wise modify the terms of payment, or
release a portion of the estate or interest
from the lien of the mortgage, or release
any collateral security for the indebted.
ness, provided surh aet does not re3ult
in an)" loss of priority of the lien of the
mort,::ap:e.
10. Policy Entire Contract
Any action or actions or rights of action
that the Insured may have or may bring
ap:ainst the Company arisinp: out of the
status of the lien of the mortgage covered
by this policy or the title of the estate or
interest insured herein must be based on
the provisions of this policy.
No provision or condition of this policy
can he waived or changed except b).
writinf:t endorsed hereon or attached here.
to signed by the President, a Vice Pres-
ident, the Secretary, an Assistant Secre-
tary or other validating officer of the Com-
pany,
11. Notices, Where Sent
All notices required to be given the
Company and any statement in writing
required to be furnished the Company
shall be addressed to it at the office which
issued this policy or to its Home Office,
l3640 Roscoe Boulevard, Panorama City,
California 91409.
12, THE PREMIUM SPECIFIED IN
SCHEDULE A IS THE ENTIRE
CHARGE FOR TITLE SEARCH,
TITLE EXAMINATION AND TITLE
INSURANCE,
I-
CERTIFICATE OF ACCEPTANCE
BKD5226PG405
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 August 11, 1971 , from or executed
by P & F Motors, a partnership , 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 CLJ
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
TthO~ officers. /
- ~_./ dud;; JI, }tPd4-
,.f/ City, Man~fY City Engineer
The document thus described is hereby approved as to form.
~eY'