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HomeMy WebLinkAboutD-1809 )' V" \\. \ ~ , '" . CERTIFICATE OF ACCEPTANCE BKD5235PG916 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 October 1, 1971 , from or executed by William L, Deaton and Andriana J, Deaton , 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 ~'M/ , City Manage The cument thus escribed is hereby approved ~ ~ ~ l! k/d~ City Engineer ,.~~ City Attorn - ,- on . CITY OF ARCADIA AND WHI!:N RECORDED NAIL TO I City Clerk I Nam. S!r..' P. O. Box 60 Addr... City & Arcadia, California Slat, L ..J MAIL TAX 5TA1!M!NTS TO I City of Arcadia I Naill. Slr..t Add,e.. City & Slot'L -.J g. 1.1'- \>::11 J I I 743 D-/Po9 RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY, CALIF. ~OR SECURITY TITLE INSURANCE CO, OCT 27 1971 AT 8:01 A.M. """ Registrar.Recorder ~.._._--- - -" ~ SPACE ABOVE THIS LINE FOR RECORDER'S USE Grant Deed Tn I FREE dJE I D, ,1,$................................................ TO 405 CA (9.681 THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, WILLIAM L. DEATON and ANDRIANA J. DEATON hereby GRANT(:!) to the CITY OF ARCApIA, a Municipal Corporation Ihe following descrihed real property in the County of Los Angeles City of Arcadia , State of California: The Westerly 10 feet of the South 45 feet of Lot 34 in Block 81 of part of 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 of said County. Dated (0-1~, /, / '( 7/ I #A~/U {J~-LWilli.a: L. ~V~ . tn1!r!ana~ eaton '~: ~I~ I I ~ ~ ~ >- u - w '" :r: ;;: u . . Q~st~ CJ4"oli 1\1\ STATE OF ~,~np~~^ ~S COUNTY OF 1B~ ~T?TL"S mot\ 1"'"" On O/!"-fAA<Lr < ,9?1 before me, the under. signed, a Notary Public in and for said Stale, personally appeared William L. Deaton and Andriana J. Deaton " . . ,~ to be the pcrson~whose nam"S instrument and 3cknowledged that WITNESS my hand and official seal. #~7 .LL-:Zl.~ , -B"",+-OY\ T. HA;t-"c..olUk Name (Typed or Printed) . ~ . , known to me are subscribed to the.within they executed the same, z o ;:: '" a:: '-' '" .., Q Signature ITIll~ UN' fot official notarial &t'a\J . '. Title Order No, ') Escrow or Loan No. MAIL TAX STATEMENTS AS DIRECTED ABOVE 10t) n '1'6(<) .' """JI I 't' "::lJU CITY OF ARCADIA 742 AND WHEN RECORDED MAIL TO RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNlY, CALIF, OR SECURllY TITLE INSURANCE CO, OCT 27 1971 AT 8:01 A,M. Registrar.Recorder r- No.. City Clerk $t,_t P,O. Box 60 Add,... City & L Arcadia, Ca li f , Stote TITLE ORDER NO. I -.J TITLE OFFICER SPACE ABOVE THIS LINE FOR RECORDER'S USE T0431-IC PARTIAL RECONVEYANCE I~EJ TITLE INSURANCE AND TRUST COMPANY, a corporation, of Los Angeles, California, as duly appointed Trustee under the Deed of Trust hereinafter referred to, having received from Beneficiary thereunder a written request to reconvey, in accordance with the terms of said Deed of Trust, all estate now held by said Trustee under said Deed of Trust in and to the hereinafter described property, said Beneficiary having presented said Deed of Trust and note or notes secured thereby for indorsement-said Deed of Trust having been executed by WILLIAM L. DEATON AND ANDRIANA J. DEATON and recorded in the Official Records of Los Angeles , Trustor, County, California, as follows: Date January 28. 1969 .. Instr. No, 2740 in Boo~ T608B Page 1 fio Now, Therefore, in accordance with said request and the provisions of said Deed of Trust, TITLE INSURANCE AND TRUST COMPANY, as Trustee, does hereby RECONVEY, without warranty, to THE PERSON OR PERSONS LEGALLY ENTITLED THERETO, all estate now held by it thereunder in and to that property situated in said county, stale of California, described 85 follows: The westerly 10 feet of the South 45 feet of Lot 34 in Block 81 of part of 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 of said County. The remaining property described in said Deed of Trust shall continue to be held by said Trustee under the terms thereof. As provided in said Deed of Trust, this Partial Reconveyance is made without affecting the personal liability of any person for payment of the indebtedness secured by said Deed of Trust. In Witness Whereof, TITLE INSURANCE AND TRUST COMPANY, as Trustee, has caused its corporate name and seal to be hereto affixed by its Assistant Secretary, thereunto duly authorized, R-334853 By Dated October 19. 1971 STATE OF CALIFORNIA, } COUNTY OF Los Angeles SS, 01' Oc tober 1 q. 1 q71 before me, the undersigned, a Notary Public in and for said State, personally appeare~ R. E. Mp-yp-r known to me to be an Assistant Secretary of TITLE INSURANCE AND TRUST COMPANY, the corporation that executed the foregoing instrument as such Trustee, and known to me to be the person who executed said instrument on behalf of the corporation therein named, and acknoy, ledged to me that such corporation executed the same as such Trustee. ~ l\;I WITNESS ~nd ollicial seal. Q Sign.tllP ':/.~.-?...-d..J . iY/3E~J OFFICIAL SEAL BARBARA J, OTTEM NOTA~Y rUeLle.CALlFORNIA PRlt':CI?Al OFFICE IN Name (Typed or Printed) 4Th" arNI fur "!fir;,,l ""lan,,1 ..'all 1()()31'f't (/) DESCRIPTION: LOT~SEC BLK-TWP TRACT-RNG BOOK PAGE MP. CD Ptn. of S 45' of Arcadia Santa Anita Tr. 34 81 ARC 15 89 4 ORDERED BY: CODE: A 141A TYPE OF ORDER: LIABILITY: $ CITY OF ARCADIA 240 WEST HUNTINGTON DRIVE ARCADIA, CALIFORNIA TO INSURE: ATTN: C. N. HOWARD OWNER: DEATON, I~ILLIAM L. & ANDRIANA J. (run from 5-21-70) BUYER: <!JL \?..~ :- S3~S,~~ll~vA!ITLE INSURANCE ,E2~E~O~? ~~~ LOS ,ANGELES, CALIFORNIA 90054 PANORAMA CITY. CALIF. 9W~f A:l\..aK TELEPHONE 381-3111 TELEPHONE 781-36~ C\'f'( C~. We acknowledge with appreciation your order for title work on the properfy descrrbed above. It wilt receive OUf prom pI attention. ,.., COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR.CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 625-3611 ROBERT A. GILL CHIEF DEPUTY MARK H. BLOODGOOD A.UOllOR.CONTROLLER E. GUERRERO CHIEF, TAX DIVISION September 22, 1972 City of Arcadia 240 West Huntington Drive Arcadia, California 91006 RECEiVED SEP 25 197.' Attention: Robert D, Ogle, City Attorney CITY OF ARC....'D1A ern: ~,rrORNF.Y SUBJECT: First Avenue Parcel No, 17 Gentlemen: Pursuant to y"ur lett"r dated November 29, 1971, taxes have been cancelled in accordance with SAction 4986 "f the Revenue and Taxati"n Code. This cancel- lation was 0rdered by thB Honorable Boar<i ...f Super- vis"rs April 12, 1972, by Authorization No. 27803. Very truly yours, MARK H. BLOODGnOD, Auditor-Controller ';~'-;"r" ,,/....._~:'~....~):, '---,," ; ""\-f By Edward Guerrero, Ch.ief, 1'ax Division EG;MG/tc ~ ;t, Cb-rt-cL ClnM(~ ;}, Tax Div. 1fc-11 8/72 &ai2hv ~~ ~ Jw...d (/. fJ.'t 3 '-I, ~ ~ I Ilo\Tcmber 29, 1971 l-lr. i1a.r" H. BloodGood, Auditor-Controller 500 ':!ent Temple Street, Room 153 Lon An3e1es, California 90012 A(;tention: Tal( Canceilation Section De~r ~r. BloodGood: Subject: Request for Cancellation of Tuxos First Avenue Parcel No. 17 Pleaoe cancel co of the dote of recordinG all tuxes on the property described in the enclosed copy of Joed. Thin property 1s part of a larGer parcel acquir3d for street wideninG purposeo. There io no bul1din~ on it. Very truly yours, ROBBR~ D. OGY...E City Attorney RDO:ot Enclosure cc: City Clerk y/ William L. and Andriana J. Deaton CLTA.t963 AMENDED 1969 ~ - /SO P~JF-/l /tj:..~ ' SeCURITY TITLE STANDARD COVERAGE POLICY OF TITLE INSURANCE issued by SECURITY TITLE INSURANCE COMPANY Security Title Insur:mce 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 consolo 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 obligated 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 encumbrance on the title to the estate or interest covered hereby in the land described or referred to in Schedule A, e'l:isting at the date hereof, not shown or referred to in Schedule B or excluded from coverage in Schedule R or in the Conditions and Stipulations; 0' 2. Unmarketiibility of such title: or 3, Any defect in the execution of any morq!;aJ!:e shown in Schedule B securing an indehtedness, 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 mortgage, at the date hereof, of any lien or encumbrance not shown or referred to in Schedule B, or e'l[cluded from coverage in the Conditions and Stipulations, said mortgage being shown in Schedule B in the order of its priority; all subject, however, to the provisions of Schedules A and B 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. ~./W<.. ~. P-218 (G,S.1 tlSal"'ol...u....uC_~of_tlC..AIOjIIII..ItdTII_k_ :-0.........,"'\.'\.\\.\\\\ .:-~SUR4~\\\\1 :":'\,\. ............("~ I" ;:~... ". ",Ii ~""." ".\O~ [~N~~\l,PORATEO\3:~ /ll./J 0~- ~a:. -.- ".,,~ /Y. C.- I. ~-:::>\At"RCH 5 \~"o'l.J~} .. ~,~.. ., ........ fl,..-.r... .". ....5 I, .. ". .-..;- 11\\\\t'iiifO?~\':.-:-': President \\\~ ~ tC: c:? _'A!A-{ff~.1 An Authorized Signature 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 records which impart constructive notice of mut- ters relating to said land; (c) "knowledge": actual knowledge, not constructive knowledj!;e or notice which may be imputed to the Insured by reason of any public records; (d) "dale"; 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 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 satisfnr.tion of said indebtedneso;" and (3) any federal agency or instrumen- tality which is an insurer or guarantor under an insurance contract or g:uaranty insuring or ~uaranteeing said indebtedness, or any part thereof, whether named as an Insured herein 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 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 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- surance contract or g:uaranty insurin~ or guaranteeing the indebtedness secured hy a mortgage covered by this policy, or any part thereof. this policy shall continue in force in favor of such Insured, a~ency or instrumentality, subject to all of the con- ditions and stipulations hereof. 3, Exclusions from the CO\'erage 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 prohibitlllg 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 public records at the date hereof. (c) Title to any property heyond the lines of the land expressly descflbed 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 this policy insures the ordinary rij:!:hts of ahuuin~ 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 matters (1) 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 hy the public records, unless disclosure thereof in writ- ing by the lnsured shall have been made to the Company prior to the date of thiS policy: or (.3) resulting in no loss to the Insured Claimant: or (4) attaching or created subsequent to the date hereof. (e) Loss or damage which would not have !leen sustained if the Insured were a purchaser or encumhrancer for value without knowledge, (() 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 consistinJ!; of actions or proceedings com. cenceu against the Insured, or defenses, restraining orders, or injunctions inter- posed against a foreclosure or sale of the mortgage and indebtedness 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 mortgage 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 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 b)' a mort- gage co\'ered by this policy, or, if an Insured in good faith leases or contracts to sell, lease or mortj!;ap:e the same, or if the successful bidder at a foreclosure sale under a mortgage covered by this policy refuses to purchase and in an)' such event the title to said estate or in- terest is rejected as unmarketable, the Insured shall notify the Company thereof in writing. If such notice shall not he given to the Company within ten days of the receipt of process or pleadmj!;s or if the Insured shall not, in writing, prompt~y notify the Company of any defect, lien or encumbrance insured against which ~hall come to the knowledge of the In- sured, or if the Insured shall not, in writing, promptly notify the Company of any such rejection hy reason of claimed unmarketahility of title, then all liability of the Company in regard to the subject matter of such action, proceeding or matter shall rease and terminate: pro. vided, however, that failure to notify shall in no case prejudice the claim o'f any Insured unless the Company shall he actually prejudired hy such failure and then only to the extent of such prejudice. (c) The Company shall have the right at its own cost to im:titute and prosecute any action or proteedin~ or do any other act which in its opinion may he IH'cessary or desirable to establish the title of the estate or interest or the lien of the mort- J!a~e as insured: and the Company may take any appropriate action under the terms of this policy whether or !lot it shall he liahle thereunder and shall not therehy concede liahility or waive any provision of this policy, (d) In all cases where this polky permits or requires the Company to pres- ecute or provide for the defense of any action or proreedinJ!, the Insured shall secure to it the right to so prosecute or provide defense in such action or pro- ceedin~, 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) f .....alllOllllU i..Uuil II1Ie A8S()C10llOll Slcmdard Coverage policy Form Copyright 1963 45 HG , SCHEDULE A Effective Date: Amount of liability: S 2,000.00 October 27, 1971 at 8:01 A.M. Policy No: Premium S 7003786 40.00 INSURED CITY OF ARCADIA, a Municipal Corporation 1. The estate of interest in the land de~cribed or referred to III thi~ ~chedule covered by this policy is: a fee 2, Title to the estate or interest covered by lhi~ policy at the date hereof is vested in: CITY OF ARCADIA, a Municipal Corporation :t The land referred to in this policy is situated in Ihe Slate of California, County of and is described as foHows: Los Angeles The Westerly 10 feet of the South 45 feet of Lot 34 in Block 81 of part of 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 of said County. . St~ndard Coverage Policy Form COPYright 1963 SCHEDULE B This policy docs not insure again:;;.t lo~.;; or damage hy rt'a~(ln of the following: PAIlT I 1. T3~es or assessments which are not shown I.I~ e~l~tlll1! liel1~ hy the rc('ord~ of any tuxill}! authorily that levies laxes or assessments on real properly or by lhe puhlic record:,. 2. Any fads. right~, interests. or claims whit:h arc no! sho\\ II hy lhc puhlic ret:ords hut \\ hich cou!'1 he u::werlained hy un inspedion of said land or by making inquiry of per:,olls in po~se:<.sioll thereor. :{, Easements. claims of casement or encumbrances which dlC nol ~howll hy lhe puhlic recof{I~. ,I. Dis(;repuncies, conflicts in houndary line~. ~hortage ill urca. clInoachmenb. or uny olher fuels which a correct survey would disclose, and which are not :<.hown by the puhli(' Ic(.onl... 5. Unpalcnlecl mining daims; re::-er\'alion:.- or cxccpliollf:. ill fialcllt:- or ill Act;., ulllhorizing: thc l;-.:-uann: thereof; water rights. claims or title to water. PAIlT II 1. General and special taxes for the fiscal year 1971-1972, a lien not yet payable. 2. An action commenced August 30, 1971, in the Los Angeles County Superior Court, Case No. NEC 11207, entitled City of Arcadia, a municipal corporation, Plaintiff vs. Claude A. Clark, et al., Defendants, to condemn the fee simple title to said land for the use of a public right-of-way. Notice of Pendency of said action was recorded August 31, 1971 as Instrument No. 4462 in Book M-3846 Page 527, Official Records. . \ } J~ 60 I ~ J60 ~ " J ~ ' blocks 81 and 83 AQCAD/A fjook /5 Paqes 89 and 90 of Mise. Qee. '" 'C Ii;' LorenaAve, COLORADO {)L va, Ld)~ iJ/ Son/a Amlrl Wosh /4' 50 50 ;0 50 50 50 50 50 50 50 50 50 30it!7;;- Co 36 '"' c~ <::l '2/ ':::. 4'), _ 3.3 32 3/ 30 29 28 27 26 25 24 23 22 ,> '" " ~ - /45 \ ~- '" 35 <::> " ~I'~ 20\ :" ., ., '0 . ~ ,> 34 /45 ~ ~ 50\ ....; 'oj /9 <1'.\ ~ "1;'" ~ ' 'C :::l 50 50 50 50 50 50 50 50 50 ~/45 " . <:> r , o. 4') /45 ~ 50 50 50 50 50 5cr 50 50 50 50 50 50 ~/45 18 '<, '" 3 ~ '" i:'l", '> ~~ '" " 4') '2 ",'" '" 17 ~ '!::!~ <:> ",,'Q 4') '" 4 5 6 7 8 9 10 /I 12 13 14 /5 :), /4516 '" 1 50 " 4') /45 '\ 50 50 50 50 50 50 50 50 50 50 50 4') ii5 L"o, Po 12 n: .5T. '" 36 /45 Q 50 50 50 50 50 50 50 50 50 50 50 :-0 "./1.:5 ~ 4') 4') 2/ '<) ::i 35 :::; 33;1 32 3J 30 29 28 Z7 26 25 24 23 22 '<, 20 " '" <::> '0 .'() , T' 34 ;;; >Q ~ " 59, ~o ~ /45 /9 " \ :ji /45 " 50" 50 50 50 50 50 50 50 50 50 <) 2 /CJ",&T. ^ ~ '" 3 /45", 50 50 50 50 50 '55 50 50 50150 50 'l)/4j- 18 '> " '" <::> 50 c," 4') >Q "2 /7 4') 2 ~ 4 "" '0, 4') 5 6 7 8 9 10 /I 12 ~/4 /5 "> ',> Q / '" .'g /45/6 Cl /45 "" 50 50 50 50 50 50 50 50 50 50 22- 50 ." '" '" 5r. JOSEN! 5T. "Ttll:l plut j" for )'Ollr oiJ ill loclltilll; lUUI II1IIJ \>ilh Icfelt"lll'e to streets IlIlJ olber IHHu.I". It b /lut ta "Ul"Vcy. ""hilc tillS plut ill Lelie\'cJ to Le CUllect, the Company 1l~:>UIIIC:; 110 liability for any lOllS occun iug Ly r1:3:;01l of reljalln~ Ihelt:oll." SECUHITY TITLE 'N">Ult...,,,,__L: <';"::>JI.,,~.....N'o' '. '0 '" <> () '" L 60 ~~ "" '. " ( ~ Cl ~ l..J \r) 60 Pf.Rl 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 aOY such actIOn or proceeding, In effecting settlement, securing evidence, obtaining witnesses, or prosecuting or de- fending such action or proceeding, and the Company shall reimburse the Insured for any expense so incurred. 5. Notice of LollS - 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 after such loss or dam- age shall have been determined and no right of jlction 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 commenced thereon within five years after expiration of said thirty day period, Failure to furnish such statement of loss or damae;e, or to commence such action within the time hereinbefore specified, shall he a condusiye bar against main- tenance by the Insured of any action under this policy. 6. Option to Pay, Settle or Compro- mise Claims The Cllmpany 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 secored hy 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 hereundet to pay, shall terminate all liability of the Company hereunder. In the event, after notice of claim has been ~iven to the Company by the Insured, the Company offers to purchase said indebt- edness the owner of such indebtedness shall t~ansfer and assign said indebtedness and the 1110rtg:age securing the same to the Company upon payment of the purchase price. 7. Payn1ent 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 ma}' he obligated hereunder to pay. (b) The Company will pay, in addition to any lotis insured against by this policy, aU costs imposed upon the Insured in litigation carried on by the Company for the Insured, and all costs and attorneys' fees in litigation carried on hy the Insured P-21B (G S.) with the written authorization of the Company. (0) No claim for damages shall arise or be maintainable under this policy (1) 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 seulin~ 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 hy 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 producinp.: 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 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 Company to the insured owner of the indebtedness 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 be payable within thirty days IhereafJer. 8. Liability Noncumulative It is expressly understood that the amount of this policy is reduced by any 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 charp;e 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 hy 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 cover the loss of the In. sured, the Company shall be suhrogated to such rights and remedies in the proportion which said payment bears to the amount of said loss. If loss should result from any acl 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 rip;ht of subrogation. The lnsured, if requested hy the Company, shall transfer to the Company all rights and remedies aF;ainst any person or prop- erty necessary in order to perfect such riF;ht of subrogation, and shall permit the Company to use the name of the Insured in any transaction or liti~ation involvinK 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}' debtor or J!;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 collaterlll security for the indebted. ness, provided such aet does not re.-ult in any loss of priority of the lien of the mortp;a~e. 10. Policy Entire Contract Any action or actions or rights of action that the Insured may have or may brinp; against the Company arising 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 prm.isions of this policy. No provision or condition of this policy ('an he waived or chanJ!;ed except by writing 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 he 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 S~:ARCH, TITLE EXAMINATION AND TITLE INSURANCE, f . . " ." &. i CERTIFICATE OF ACCEPTANCE BKDS232PG9S4 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 5, 1971 , from or executed by Barbara M, Gross , 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 ~r'O~~<' ~ r City Manag The document thus described is hereby approved W --1 ~ 00 ~~~ as to fonn, -~