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HomeMy WebLinkAboutD-1806 " STATE OF CALIFORNIA '/ SS COUNTY' OF LOS ANGELES , ? i " ~: C(') On August II, 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, ". Signature c. ~ ; ',' ~ - ~ . . OFFICIAL SIi:AL FLORENCE E, NEERGARO NOTARY PUBLIC, CALIFORNIA LOS ANGELES COUNTY My Commission Expires Mar.4. 1972 p, 0, Box 60, Arcadia, Cailf. ':'{},,.,.,.-; k.R,ECORPINt$. REQUESTED IBY , ..' . l' '. -, CITY OF ARCADIA 809 BKDSZZ6PG404 AND WHEN RECORDED ....AIL 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 r FREEJ:. E I I City Clerk P. O. Box 60 I Nom. Slr..t A.cId,.u City & Stol. L Arcadia, California ~ SPACE ABOVE THIS LINE FOR RECORDER'S USE MAlt TAIt STATEMENTS TO I Nom_ City of Arcadia I DOCUM"NTARY TRANSFER TAX $..N.~...TA.~..J),ylf.......... o COMPUTEO ON FULL VALUE OF PROPERTY CONVEYED, OR o COMPUTED ON FULL YALUE LESS LIENS & ENCUMBRAN, CES REMAINING THEREON AT TIME OF SALE, ..~ Ak...~,..:::,~E.(.J,f121r.y...Tl.rl..g,jN:>.!!.{{./I.N~t C<1. si~;t~;;~7;;i;J'nt or agent determining tax - firm name o Unicorporated Area D'Clty of....Ar..c..ad./J...............,.......... St,.., Addr_.. City & Sto'-L ~ Grant Deed D,1',1', S........................-;t...;/. TO 405 C'" (9.681 THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, P & F MOTORS, a partnership free reCOl'di Gov. COde 61~g rBquested ll11cessary d 3. Document ~i tle, ue to City acqU ~r hereby GRANT(S) to the CITY OF ARCADIA, a Municipal Corporation ring the following described real property in the County of Los Angeles City of Arcadia , State of California: .\ " J The Westerly 10 feet of Lot 3, Block 83 of the Arcadia Santa 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. , " ,; . Dated ~/~ 1f7/ Signature }ss, P & F MOTORS, a partnership .!?4ted1J~d- ~;; ~~ y tJ>:f'- rac j -. <' .. . known to me subscribed to the within executed the same. ,.c~, ..~t~.. .~' ..""0 ,-,,:'" , ' , ., "'oollIFt;;r..,,. OFFICIAL SEAL FLORENCE E, NEERGARD NOTARY PUBLIC, CALIFORNIA LOS ANGELES COUNTY MyCommlsslon Expires Mar. 4,1972 >- >- <Xl <Xl Z co LU LU J- '" J- U '" LU >- :I: - U Z 0 j:::: ! 0..' I a: ~, LU Cl \\.. ! P. O. Box 60. Arcadia, Calif. ~ Name (Typed or Printed) tThis Il"ea fOJ olf!("\1l1 not.,lal selll) Title Order No, Escrow or Loan No. '. MAil TAX STATEMENTS AS DIRECTED ABOVE '" MARK H. BL.OODGOOD AU DITOR.CONTROLLER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR.CONTROLLER 153 HAL.L. OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 629.3611 September 19, 1972 City of Arcadia 240 West Huntington Drive Arcadia, California 91006 Attention: Robert D. Ogle, City Attorney SUBJECT: First Avenue Parcel No. 13 Gentlemen: Pursuant to yC'ur letter dated November 17, 1971, taxes have been cancelled in accC'rdance with SRction 4986 of the Revenue and Taxation Code. T~~s cancel- lation was ordered by the Honorable Boarrl. ,.,f Super- visors Feb. 18, 1972, by Authorization No. 26660. Very truly yours, MARK H. BLOODGOOD, Aud.i.tcr-Ccmtroller ,;:;...".. ,;/ >_.' ~'~A):' ........., "..\-r By Erl.ward Guerrero, eh.tef, Tax Division EG;MG/tc t> t{.,,) ~,tffLa./ Tax Div, /fC-11 8/72 ~~~'t ~cH:.. 6, ~'(3 /.7- r v ~fP ROBERT A. GILL CHIEF DEPUTY E. GUERRERO CHIEf", TAX DIVISION RECEiVED ~t:'p 2G 1972 v_. ,CITY OF ARCADIA CITY, ,^TTORNFY .- - ~ -- -----.......-. '- - -.. "---.. - DESCRIPTION: LOT.SEC BLK.TWP ,RACT-R~~ r_':'oK PAGE MP.CO II Arcadia Santa Anita Tr. 3 83; ARC 15 89 4 , ORDERED BY: CODE: A 141A TYPE OF ORDER: re-open 10-11-71 LIABILITY: $ CITY OF ARCADIA 240 H. HUNTINGTON DRIVE ARCADIA, CALIFORNIA TO INSURE: SECURITY TITLE 3444 WILSHIRE BOULEVARD LOS ANGELES, CALIFORNIA 90054 TELEPHONE 381-3111 P. & F. MOTORS Q (run from 5-1o-70(~-V fi: i...f "' 'I ...... . '" I 4-1..... (~ INSURANCE 1~2~!:o~ // PANORAMA~'C1TY. CALIF. 91409 (.j TELEPHONE 781-3650 II OWNER: ATTN: CHESTER N. HOI~ARD BUYER: <!>L We acknowledge with appreciation your order for title work on the property described above, It will receive our prompt attention. " 0:.' ~-;"''''''''''''~rw.- -:::---'--.-' ~~ '..i;lli~Jn:,-.-'v ~r~ , ,- . .. 808 ",' ~.. ~'; ,,' ..' , Name I I RECOROED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY, CALIF, FOR SECURITY TITLE INSURANCE CO, OCT 18 1971 AT 8:01 A,M. \ AND WHEN RECORDED MAIL TO Street Address City State L Zip SECURITY TITLE INSURANCE COMPANY Registrar.Recorder .J SPACE ABOVE THIS LINE FOR RECORDER'S USE- 'nrtinl irrnnurynurr I FREE 1 E '---' WHEREAS, BANK OF AMERI~A 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 ..........n.n..June...14th......., 19.66.., made by ...P..&..F..Mot.ol'-8,...a...pa-rtnership-.............. .:::::::::::~4i:~::::..~;:'~,~::";~~~~..:T5~iB~~ii~irjO~2648..~;,~;~;~;~lTr;:~;~~~e.c~r~e~ in rhe office of the Recorder of the ..........................., Coumy of ...............t9.!!...Angel.es..........................., California, has received from Beneficiary thereunder a written request to reconvey, in accordance with the terms of snid Deed of Trust, the cstnte now held by said Trustee under said Deed of Trust in and to the hereinafter described p~operty, said Beneficiary having presented said Deed of Trust and note or notes secured thereby for endorsement; NOW THEREFORE, in accordance 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, ramy, 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 ........m..mm.... Los Angeles County of m..............m.....m...mm_.h.....m...._...._.__m....__m....mmm.__.._m.,__..m............ um....uu_, California, described as: The westerly 10 feet of Lot 3, Block 83 of the Arcadia Santa 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. Free recording requested under Gov. Code 6103. Document necessary due to City acquiring title, Dated: . ..~ptemRe.r.n...... u......., 19..71.... BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, as Trusree, l;!p., 0.. \. OFF)' '1.,\1. S~'AL ~~~ NOTAn~I,~~, ,~' (:'~:"'O'''A ~ LOS ANGELES C.JLJ'~I ( ~I"O~" MyComnlJsslOn ExplresAug, 4,1975 By..... . BY"'~u uuu .. .. Trust CX:; o CX:; No, ..u~99~92uuuuu.uuu..u......uu.uu STATE O~~~L~:~:';:~ uuuM>BMgeles....uu) SS On...~f3P~.e.II11l.e.:r:..?.1......., 19..1;1....., before me, the undersigned, a Norary Public in and for said liLo.s..Angeles County and State personally appeared ........u.................................. ........................................ ....:.Il().R.Q!HY..SCI:llCK::-......................., t~~:~ ;~ ::;: r~ ~: t~:~m:~t~i1~~~i~~W~~~~ OFuA~fERiCA..NATI6NAi:TRUSTA~6E~~v!hJtI~L~~~~~~Ti6N: rhe national bnnking aso:;ociation thac executed ~the Within instrument as Trustee, and known to me to be the persons who exe~ cUfed the same on behalf of the national banking association therein named, and aCknr~ged ro me rhar such national hanking assoCiation executed the same as Trustee. ___________________u_________..u /< ~~a.._;::~:"._____uuuuu_____uu WITNESS my hand and official seal ~ / : lid Notary Public in and for said Los Angeles.. ..... Counry and State, Tru-14H 7-69 My Commission expires .__ __... 19. CLTA.1963 AMENDED 1969 r' /?Ob \ /v( (U;J..., / v...Jr3 STANDARD COVERAGE POLICY OF TITLE INSURANCE issued by 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' Iees and expenses which the Company may become obligated to pay as provided in the Conditions and Stipulations hereof, which the Insured shall sustain by reason of: l. Any defect in or lien or encumhrance on the title to the estate or interest covered herell)' in the land described or referred to in Schedule A, existing at the date hereof, not shown or referred to in Schedule B or excluded from I:overage in Schedule A or in the Conditions and Stipulations; or 2, Unrnarketability of such title: or 3. Any defect in the execution of any mort~ap:e shown III Schedule B securing an indebtedness, the owner of which is named as an Insured in Schedule A, hut only insofar as such defect affects the lien or charge of said mortp:ap:e upon the estate or interest referred to in this policy; or 4, Priority over said mortg:age, at the date hereof, of any lien or encumhrance not shown or referred to in Schedule A, or exduded from coverage in the Conditions and Stipulations, said mortgage Leing shown in Schedule B in the order of its priority; all subjecll however, to the provisions of Schedules A and B and to the Conditions and Stipulations hereto annexed. In lJ7itness 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. ~.Av<.. ~. P-218 (0 5,) ~ S.luo 1~lu'.~.. Com,.~y of Am.,I.., F1.gllll,.d T,"_,k own_, ............~""''\\\'\ ..o-""'~SUR4 IIII :\. ~ ....... J\lC 'II ;'...~.... ....1" "1 ?"".. --ell. }:(:....:'\\t\\\lPORATEo..'O ~ r......\ .~~ ~-- . % ~C:. -.- ..,,~ ~ . " .:t>o~ '1.?\/,fAn"H 5 \'!,'i:-,'!~f ~'-?J... 1I" _,- "" (/\01""1'\_. .. ,:;: loJ _ . lot - I, .. -. .. T: 1'\IIPiiio"i..-;..\~..o-': "\'\""""''-~ ~~u~~ 1I1?~ President CONDITIONS AND STIPULATIONS 1. Definition of Terms The following terms when used in this policy mean: (a) "land": the land described, spe- cifically or by reference, in Schedule A and improvements affixed thereto which by law constitute real property; (b) "public records": those re('ords which impart constructive notice of mat- ters relating to said land; (c) "knowledge": actual knowledge, not constructive knowledge or notice which may he imputed to the Insured by reason of any puhlic 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 indebtedness secured hy 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 saHI indebtedness. and (3) any fedeml agency or instrumen- tality which is an insurer or guarantor under an insurance contract or ~uaranty insuring or guaranteeing said indebtedness, or any part thereof, whether named as an Insured herem or not, subject other. wise to the provisions hereof. 2. Benefits after Acquisition of Title If an insured owner of the indebtedness secured by a morq~age described in Sched- ule B acquires said e~tate or interest, or any part thereof, by foreclosure, trustee's sale or other legal manner in satisfaction of said indebtedness, or any part thereof, or if a federal agency or instrumentality acquires said estate or interest, or any part thereof, as a consequence of an in.' sumnce contract or guaranty 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 stipulations hereof. 3. Exclusions from the Coverage of this Policy This policy does not insure against loss or damage by reason of the following: (a) Any law, orJlIlance 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 pol!ce power or emment domain unless notice of the exercise of such rights appears in the public records at the date hereof. (c) Title to any property beyond the lines of the land expressly described in Schedule A, or title to streets, roads, avenues, lanes, ways or waterways on which l>llch land abuts, or the ri~ht to maintain therein vaults, tunnels, ramps or any other structure or improvement: or any ri~hts 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 hi~hways thig policy insures the ordinary ric;hts of ahutting owners for access to one of such streets or highways, unless otherwise ex. cepted or excluded herein, (d) Defects. liens, encumbrances, ad. verse claims against the title as insured or other matterg (I) created, suffered, as. sumed or ac;reed 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 been made to the Company prior to the date of this policy; or (,,) resultinp: in no los~ to the Insured Claimant: or (4) attaching or created subsequent to the date hereof. (e) Loss or damap:e which would not have heen sustained if the Insured were a purchaser or encumhrancer for value without knowledge. (f) Any "con<;umer credit protection", "truth in lending" or similar law. 4. Defense and Prosecution of Ac- tions - Notice of Claim to he Given by the Insured (a) The Company, at its own cost and without undue delay shall provide (1) for the defense of the Insured in all litigation consisting of actions or proceedings com. cenced against the Insured, or defenses, restraining orders, or injunctIOns inter- posed a~ainst a foreclosure or sale of the mortgage and indebtedness covered by this policy or n 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 mortgage as insured, which litigation or action in any of l>uch events is founded upon an alleged defect, lien or encum- brance insured against by thig policy, and may pursue any litigation to final determ- ination in the court of last resort. (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 he liable by virtue of this policy, or if the Insured shall in good faith contract to sell the indebtedness secured by a mort. gage co\'ered by this policy, or, if an Insured in good faith leases or contracts 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 writing, If such notice shall not he given to the Company within ten dLlYs of the receipt of process or pleadings or if the Insured shall not, in writing:, prompt~y notify the Company of any defect, lien or encumbrance insured against which shall come to the knowledge of the In. sured, or if the Insured shall not, in writing, promptly notify the Company of any ~lIch rejection by reason of claimed unmarketahility of title, then aU liability of the Company in regard to the subject matter of such action, proceedin~ or matter shall cease and terminate: pro- vided, however, that failure to notih- shall in no case prejudice the claim o'f any Insured unless the Company shall he actually prejudiced hy such failure and then only to the extent of such prejudice. (cl The Company shall ha\e the right at its own cost to institute and prosecute any action or proceeding or do any other act which in its opinion may be necessary or desirable to establish the title of the estate or interest or Ihe lien of the mort- gage as insured: and the Company may take nny appropriate action under the terms of this policy whether or not it shall he liable thereunder and shall not thereby concede liahility or waive any provision of this policy. (d) In all cases where this policy permits or requires the Company to pres- ecute or provide for the defense of any action or proceeding, the Insured sh::dl 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) P.218-A (G S.) Rev. California Land 1\t1e Association Standard Coverage Policy Form Copyright 1963 45nan SCHEDULE A Effective Date: Amount of liability: S 2,000.00 October 18, 1971 at,8:01 A.M. Policy No: Premium S 7003782 40.00 INSURED CITY OF ARCADIA, a Municipal Corporation 1. The estate or interest in the land described or referred 10 III this ~chedule covered hy Ihis policy 1S: A fee 2. Title to the estate or inLerest covered by this policy at the dale hereof is ve~led in: CITY OF ARCADIA, a Municipal Corporation :{, The land referred to in this: policy is situated in the SlaLe of California, County of and is described as follows: Los Angeles The Westerly 10 feet of Lot 3, Block 83 of the Arcadia Santa Anita Tract, in the City of Arcadia, as per Map recorded in Book 15, Pagels 89 and 90 of Miscellaneous Records, in the Office of the,County Recorder. . r--':ltl-C {U,;:),/ U1Q..UUQ,.L .Ua.U, CaldoTn.Jo Land Tille ASSOciahO"11 Standard Coverage Polley form , Copynght 1963 SCHEDULE B This poliey docs not in~ure again~t 10:-"::' or damage by rea~on of the following: PAIlT I 1, Taxc:, or as~essmenls ~'hidl arc not ~howl1 as e\:l~llll~ licll~ hy the rc(,ol"~ of any taxi II;! authority thai levie... laxes or assessments on' real properl)' or hy (he puhlic rCt'ords. , I 2. AllY fads~ rjghl::-~ interest::,. or claims whit:h arc 1I0t .showlI hy the puhli(' rccoltl::- hut \\ hieh could he aSl"crlainecl hy an inspecLion of said lund or hy making inquiry of I'cr:--Olb in po:"...c~sioll thereof. I :L Easements. claims of easement or encumbrances which <lIe 1101 :--ho\\'1l by the public rCl:ord.:'. :: .1. Disnepundes. connie!s ill boundary lines. ::-horla~e ill area. CIH'IOadllnent.... or any other rad... which u correct .:;urvey would di~do~e~ *nd which are not ...ho\\'1l hy the puhlil' J't~('ord.... 5. Unpatented mining daifn~; re...ervatioll... or e:\l'cl'tioll:'- ill patcnt... or ill Ad... i.lUlllOrizin~ thc t......lhllln~ thereof; water rights~ claims or liVe 10 water. PAHT II 1. General ,and special taxes for the fiscal year 1971-1972, a lien not yet payable. . ~ =60 ~ " ] } J~ 60 I 6/ac ks 8/ and 83 AQCAD/A Book /5 Poqes 89 and 90 of M/sc,l2ec. <::> '0 I,' - LorenaAve 30 11 COLOR.ADO {)L VD, Ld}~ Q/ 5aiFo iii/ill} l'J!o.)/J , 50 ;:J7?t> (it o /4! 6 50 so 50 50 50 50 50 50 .$0 50 50 '<'>836 8,,", 33 ,.) \2/ '"J 32 3/ 30 29 28 27 26 25 24 2322" , ,,', -"" . ~ J"l:J ~ - <::> 35 <::>" '., () 20'" ., ., '0 . ~ ,::,..., \ "- .~ !;O\ ~1 ~2 " .., ~ /9 ,,'. ~ 34 /45 ~ -'1;" ~ Gl 50 50 50 50 50 50 50 50 50 1~145 'r. C> 1 r ") 0' '<'> /45 ~ 50 50 SO 50 50 5'0' 50 50 50 50 50 50..!:? N5 ", ~ 3 ',,'~ /8 -L :;Q '" ~~ ",,,", I,f".'''> ~ '" ii\ 2 c"i '''Q 17 C ",'Q ',<,> ." J: 4 5 6 7 8 9 10 /I 12 13 14 /5 ~ /45 /6 <::> I <::> <:. '<) /45 ~ 50 50 50 50 50 50 50 50 50 50 !J-O 50 '0, .'is LA ST. PORTE Cl 36 /45 ~ 50 50 50 50 50 50 50 50 50 50 50 ;'0 CJ/:';5 ~ '" " 2/ , 33~ 32 31 30 29 28 ?7 Z6 Z5 Z4 23 22 '<, '<'> 35 '" 8 20 '0 '<'> "1 Cl a'" .':) , -r 34 ;;:j ~ '!: , " 5f!., ~o ~j /45 /9 '" ~ /45 ""' 50". 50 50 50 50 SO 50 So 50 50 " 2 /'1:' , '<) /45 ...~ 50 SO SO 50 50 Jzf 50 50 50150 50 ")/45/8 '" 3 50 '" '<) a <:. " " , " "? 2 , '" /7 '<) ~ 4 -'j '<) 5 6 7 8 9 10 II 12 ~ 15 " '" a I /45 ~ 50150 ,?; /45/6 a '<'> 50 50 SO 50 50 50 50 :;"0 50 50 '" Cl 'D il5T , ST JOSEPh ,. "Thi~ plitt b fur )'our flld 1Il !o\'lllifLj,; )OUI IUlld ,",'lIh Icft:lelH.:e to ~treels tlllJ olhrr ~uru..b. It l~ 1101 11 :>unCf. While thIS plUI is ladll'\'cJ 10 Le COI reel, the Company till.)U1I1C... 110 1i11lJilJly (or any lo~, occurllllg hy reason of relb.llll c thl;'ll'oll." Ii SECUFUTY TITLE ll'.bUII....t.__L.: c.::,,,.,.,.............. '. '0 c '0 <:0 '" L 60 ~, ~ "<r " , r ~ ~ 8 V) 60 PE,RY .' '" CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) requested by the Company the Insured shall give the Company all rea~onab~e aid in any such setioil or proceedmg, In effecting settlement, securing evidence. ohtaining witnesses, or prosecllting or de. fending such action or proceedmg, and the Company shall reimburse the Insured for any expense so incurred, 5. Notice of LOS8 - 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 shall be furnished to the Company within sixty days aher such loss or dam. age shall have been determined and no right of action shall aCcrue to the Insured under this policy untH thirty days after such statement shall have been furnished and no recO\'ery shall be had by the In. Slued under this policy unless action shall be commenced thereol1 within five years after expiration of said thirty day period. Failure to furnish such statement of loss or damage, or to commence such action within the time hereinbefore specified, shall he a condusi\"e har against main. tenance by the Insured of any action under this policy, 6. Option to Pay, Settle or Compro. mise Claims The Company 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 policy 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 costs, attorneys' fees and ex- penses which the Company is obligated hereunder to pay, shall terminate all liability of the Company hereunder. In the event, after notice of claim has been J!;iven to the Company by the Insured, the Company offers to purchase said indebt. edness, the owner of such indebtedness shall transfer and assiJ!;n said indebtedness and the mort~ap;e securing the same to the Company upon paymellt of the purchase price. 7. Payment 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 obliJ:;ated hereunder to pay. (b) The Company will pay, in addition to any loss insured 8J:;8inst by this policy, all costs imposed upon the Insured in litigation carried on h,. the Company for the Insured, and all costs and attorneys' fees in litigation carried on hy the Insured P.218 (G.S) with the written authorization of the Company, (c) No claim for damages shall arise or be maintainable under this policy (l) if the Company, after having 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 liability 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 thi!1 policy, until there has been a final determination by II court of competent jurisdiction sus. taining such rejection. (d) An payments under lhis policy, except payments made for costs, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto and no payment shall be made without producing 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 be 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 Insured herein then such payments shall not reduce pro tanto the amount of the insurance afforded hereunder as to such Insured, except to the extent that such payments reduce the amount of the in- debtedness secured hy such mortga~e. Payment in full hy any person or voluntary satisfaction or release by the Insured of a mortgage covered by this policy shall terminate all liability of the Company to the insured owner of the indehtedness secured by such mortgage, except as pro- vided in paragraph 2 hereof. (e) When liability has been definitely fixed in accordance with the conditions of this policy the loss or damage shall he payable within thirty days thereafter. 8. Liability Noncumulative It is expressly understood that the amount of this policy is reduced by any amount the Company may pay under an}' 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 mortgage 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 Settlement Whenever the Company shall 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 he suhrogated 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 rip;hts 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 Compan}", 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 perfect such right of subrogation, and shall permit the Company to use the name of the Insured in any transaction or litilZation involving such rights or remedies. If the Insured is the owner of the in. debtedness secured by a mortgage covered by this policy, such Insured may release or substitute the personal liability of an}' debtor or ~lIarantor, 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 an)' collateral security for the indebted- ness, provided such aet does not re3ult in any loss of priority of the lien of the mortJ!:ag:e. 10. Policy Entire Contract Any action or actions or rights of action that the Insured may have or may bring aj!;ainst the Company arisin~ out of the status of the lien of the mortj!;age covered hy 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 be waived or changed except by writinJ!; endorsed hereon or attached here- to signed hy the President, a Vice Pres. ident, the Secretary, an Assistant Secre- tary or other validating officer of the Com. pany. II. Notices, Where Sent All notices required to be given the Company and any statement in wrltmg required to he furnished the Company shall be addressed to it at the office which issued this policy or to its Home Office, 13640 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, BK05240pcl38 CERTIFICATE OF ACCEPTANCE , ~ \.IT ~ "" -, , 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 Aueust 16. 1971 , from or executed by Henrv Arthur Kehler. .Jr, and Miriam T. J(phlpl' , 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 authoriz officers, ;..\ ~ J! ~O/d~ Ci ty, Engineer \....' '''<O~:' ~ \.; ~ ,/ City Att ey - .. is hereby .' \ ..--..........