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HomeMy WebLinkAboutD-1855 RECORDING REQUESTED BY -- oar C I'I:Y OF ARCAD IA ~30 BKD5648pc 104 AND WHEN RECORDED MAIL TO I Nam. City Clerk $t,.., P.O. Box 60 Addr... City & Arcadia, Ca. 91006 Stal. L MAIL TAX STAUMENTS TO I Nam. City of Arcadia Sf'..' Add,... Clly & Sial. L RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY, CALIF. FOR SECURITY TITLE INSURANCE CO, OCT 27 197Z AT 8:01 A,M. Registrar.Recorder I -.J SPACE ABOVE THIS LINE FOR RECORDER'S USE I DOCUMENTARY TRANSFER TAX $...........&!..~...................hm _~COMPUTED ON FULL VALUE OF PROPERTY CONVEYED, _OR COMPUTED ON FUlL VALUE LESS LIENS AND ENCUMBRANCES REMAINING T TIME 9F SALE,. I ~4, .J I Grant Deed I FREEV'S 1 TO 405.1 CA (1.70) THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, HOWARD F. BRADY and EVELYN G. BRADY, as to an undivided 1/2 interest, and WAYNE F. BRADY, as to an undivided 1/2 interest. hereby GRANT16) to the CITY OF ARCADIA, a Municipal Corporation, the following described real property in the County of Los Angeles City of Arcadia, , State of California: The southerly 6 feet of lots 53 and 54 of the Haven Tract, in the City of Arcadia, County of Los Angeles, State of California, as per map recorded in Book 13, Pages 22 and 23 of Maps, in the office of the County Recorder of said County. a undeT ueste ~ing Tet'; \llIlent. fTee Te~: 1'>1.0::" ~~~1 aC9,u11").n& Go'" Co due t.o " ' eSsa.rY nec !,j..!c,1.\b Dated ( " STATE OF CALIFORNIA COUNTY OF LOS ANGELES On signed. [1 Nota!)' Public in and for said Howard F. ~rady, Evelyn G. Wayne F. Brady }ss ~r~ ~~I >-' i:i m z Q w L:.J f- Yo I- U (1::: ;~ ?: U, , , hefore me, the under- Stalt~. personally appeared Brady and to hc the flerson~whose name H instrument and acknowledged that , known to me Rrp. suhscribed to the with ill they executed the same. OFFICIAL SEAL FLORENCE E. NEERGARO NOTA~Y PUBLIC-CALIFORNIA LOS ANGELES COUNTY MyCommJSSlOn ExpIres Mar, 4.1976 o ;:: a. C? L> U) CJ o ~ ~ o .,.,.,~,., ."" .", ,,~,., ...,. ~ SignatllTC ~ 6. IJ Name (Typed or Plinted) P. Q. Box bO, Arcadia. CA. 91006 ," (Thj~ AII'3 fill UlUl'LaJ notarhll M'al) '\ I Tille Order Nu, Escrow or Loan No. G5 MAIL TAX STATEMENTS AS DIRECTED ABOVE 7 ;2.JA'L Z7 ~~~ BlIR 4059pcb t b CITY OF ARCADIA f; .... AND WHEN RECORDED MAIL TO RECORDED tN OFFICIAL RECORDS OF LOS ANGELES COUNTY, CALIF, OR SECURITY TITLE INSURANCE CO, OCT 27 1972 AT 8:01 A.M, r- N... City Clerk I i'~:~u P. O. Box 60 Clly & Slot. L Arcadia, Ca. Registrar-Recorder 91006 -.J TITLE ORDER NO. TITLE OFFICER SPACE ABOVE THIS LINE FOR REcrD;;;~~i S I TO A31-1 C PARTIAL RECONVEYANCE TITLE INSURANCE AND TRUST COMPANY, a corporalion, of Los Angeles, California, as duly appointed Trustee under the Deed of Trust hereinafter referre,d 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 nole or notes secured thereby for indorsement-said Deed of Trust having been executed by HOWATm "', R1<Any A]'ffi RlT'RT,YN and recorded in the Official Records of G _ R1<Any T,ne::!. Ans;pl p~ , Trustor, County, California, as follows: Dale December 6, 196~ ..Instr, No. 1496 ;n Boo" 'I'3403 , Page 1)15; Now, Therefore, in accordance with said request and the provisions of said Deed of TruSI, 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, state of California, described as follows: The southerly 6 feet of lots 53 and 54 of the Haven Tract, in the City of Arcadia, County of Los Angeles, State of California, as per map recorded in Book 13, Pages 22 and 23 of Maps, in the office of the County Recorder of said county. o$'o.e~ \ceo. ~eo.~eS-vllIe1:\\c \,~\,~& o.\,1:\\!. \loc I;Co.~ eCo~ :\-Q'!>o C\,\c1 ......0 ~ '0 €> \,0 ".- CO" ~~0 GO~o sI;,1 ceS ~e ~}.~).e' 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. Dated Seotember 12. 1q7? TITLE INSURANCE AND TRUST COMPANY, as JI2~~ Trustee, R-359748 By Assistant Secretary STATE OF CALIFORNIA. } COUNTY OF Los Angel es SS, 0... SeQtember 12, '97? before me, the undersigned, a Notary Public in and for said State, personally appe81'e,l 'T'. R - 'T'i p.mA n known to me to be an Assistant Secretary of TITLE INSURANCE AND TRUST COMPANY, the corporation that e:a:ecuted Ihe foregoing instrument as such Trustee, and known 10 me 10 be the person who executed said instrument on behalf of (he corporation therein named, and acknowledged to me that such corporation executed the same as such Trustee. ~TNESS ~~ offid.l ,eat C2 ~ Sign......., L____) - k&-~ OFFICIAL SEAL BARBARA J, OTTEM NOTARY PU9UC.CALIFORNIA PRINCIPAL OFFiCE IN LOS ANGELES COUNTY My Commission Expires Jan. 9, 1974 ~ ~ (J) Name (Typed or Printed) IThl' .".:\ for official ""larlal .,'al) ~ ",?." j/J/ ~ -, " ::JNJ BKt<4UJ~pcb 1 r f; - / '1:,--5' ci ty of Arcadia ( AND WHEN RECORDED MAIL TO RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY, CALIF, OR SECURITY TITLE INSURANCE CO, OCT 27 1972 AT 8:01 A,M, No.. I City of Arcadia, Dept. of Public Works P.O. Box 60, L-Arcadia, Ca. 91006 I St,... Add,... City & $101. Registrar-Recorder --1 TITLE ORDER NO. TITLE OFFICER SPACE ABOVE THIS LINE FOR RECORDER'S USE I FREE 1 5 J T0431-IC PARTIAL RECONVEYANCE TITLE INSURANCE AND TRUST COMPANY, a corporation, ol 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 ano note or notes secured thereby for indorsement-said Deed of Trust having been executed byI,eR()Y n T. A ~f{K() ANn PA']'~Y .r I WA~HK()) h;~ ,~Ti f'p (Hnw~Y'n H' B"'''ny, Eup1 J,Tn G ~,...~ny Ann lJAynp H' R,.."ny) . Trustor, and recorded in the Official Records ol T .()Q AngplE?" County, Calilornia, as follows: Dale January 22. 19f)? A~ Instr. No. 68 in Boole T-21ql , Page 0;41 ; Now, Therefore, in accordance with said request and the provisions ol 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, state of California, described as follows: The southerly 6 feet of lots 53 and 54 of the Haven Tract, in the City of Arcadia, County of Los Angeles, State of California, as per map recorded in Book 13, Pages 22 and 23 of Maps, in the office of the County Recorder of said County. ~a61' s~ea 1'e~\).e ~e'C>~ \.1'\.'C>~ a\'C>1!> \lOe eC~\). -reco1' €>1-0"'. c\~'i 1tf66 coae a\).e ~o GO". sse1''i p'oc6 ~1-e, ~\ The remaining property described in said Deed of Trust shall continue to be held by said Trustee under the terms thereol. As provided in said Deed ol Trust, this Parlial 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. Dated ~prt:pmhpl'" '3 '97? TITLE INSURANCE AND TRUST COMPANY, as Trustee, , By ~l~ R-359750 Assistant Secretary STATE OF CALIFORNIA. }SS, COUNTY OF ;;;~~ 1\~~~lr9 o. Septe r 7? before me, the undersigned, a Notary Public in and for said State. penoDally appeare~ T. R Ti pm,q n 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 acknowledged to me that such corporation executed the same as such Trustee. WITNESS ~d ollicial seal. e tJ..&-~ OFFICIAL SEAL @) BARBARA J, OTTEM --6~' ~ NQ,AP.Y PUSLlC-CAUFORNIA Signallm't: ~./-.J.,.. !j~~ PRINCIPAL OFFICE IN LOS ANGELES COUNTY My Commission Expires Jan, 9, 1974 Name (Typed or Printed) (This UNI lor offIcial ""lallal spall ~ l\:l ~ @ '? 1--/ A t. z '7 . COUNTY OF LOS ANGELES . DEPARTMENT OF AUDITOR-CONTROLLER 1!53 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 625.36tl ROBERT A. GILL CHIEF DEPUTY MARK H. BLOODGOOD AUDITOR.CONTROLLER E. GUERRERO CHIEF, TAX DIVISION May 7, 1973 Direct inquiries to Attn: Mary Gifford RECEIVED MAY 10 1973 City of Arcadia 240 West Huntington Dr1 ve Arcadia, California 91006 CITY OF ARCADIA em ATTORNEY Attention: Robert D. Ogle City Attorney SUBJECT: Colorado Boulevard Parcel No. 2 (Brady) Gentlemen: Pursuant to your l"lttcr dated November 15, 1972, taxes have been cancelled in accordance with Section 4986 of the Revenue and Taxation Code. This cancel- lation was ord"lred by the Honorable Board of Super- visors Jan. 11, '973, by Authorization No. 31587. Ve!'Y truly yours, MARK H. BLOODGOOD, Auclitor-Controll"lr &7../ /..J~",).,.',--/n --G'c<..//It:/? ?J:~( ,,' .,,~ .~J:/t..-f ,''/',/ 'J (.....'~ By Edwaxrl Guerrero, Chief, Tax Division EG/MG/tc Tax Div. #C-11 3/73 November 15, 1972 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 Colorado Boulevard Parcel No. 2 (Brady) 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 part ot a larger parcel acquired for street widening purposes. There is no building on it. Very truly yours, ROBERT D. OGLE City Attorney RDO:at Attachment ' ce: City Clerk J , ~ . /~' ~ .. CLTA-1963 AMENDED 1969 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 consolo idation, against loss or damage not exceeding the amount slated 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, existiuf?: at the date hereof, not shown or referred to in Schedule B or excluded from coverage in Schedule B or ill the Conditions and Stipulations; or 2. Un marketability of such title; or 3. Any defect in the exe(:ution of any mOlt~age shown in Schedule 8 securing an indebtedness. the owner of which is named as an Insured in Schedule A, but only insofar as such defect affects the lien or charge of said mortgage upon the estate or interestleferred to in this policy; Or 4. Priority over said mort~age, at the date hereof, of any lien 01" encumbrance not shown or referred to in Schedule B, or excluded from coverage in the Conditions and Stipulations, said mortgage being shown in Schedule B in the 01 der 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. """......,"''-\.'\\\\\ ..o-~~SUR4 1\\\ :\. \........~C i'l -~ .' '. I' I, $~... --.C'h ;:: . oPORA '0'1. ~t::: :\...~~n TED\;~ %-. - % %:-. --- .-,,:'. %-. ~ ')>.1< ~?;"'A1ARCH 5 \f!,"r:,.!~f ~, -0,- " .....__ 'I'''"''.. .. Y':;: 111J .. . ~ ~ I .. .. .. T I, or {} ....... \. -= _~\I\\\AlIFO~ ~/? \\:'>~ ~ ?_/J:. -~ ~ ,"'--J :,..:.-:=:> ,:I':>:1-'J..~ President 1VNj(~ ~<.. ~. Secretary An Authorized Signature P-21B (G.S) <!IS-I.co lnl~""'" C.....o.ny of "m.nu, "'Olll.tU T,.cle....k 0""".. CONDITIONS 1. Definition of Terms The following terms when used in this policy mean: (a) "land": the land descrihed. 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 maI- lers relating to said land; (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed 10 the 11I5Ul ed 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 R is named as an Insured in Schedule A. the Insured shall include (1) each successor in interest in ownership of such indehtedness, (2) UIlY su('h owner who acquires the estate or interest referred to in this policy by fore- closure, trustee's sale, or other legal mall- ner in satisfaction of said indebtedness. and (3) any federal a~ency or in:,trurnell- tality which is an insurer or guarantor under an insurance contract or guaranty insuring or guaranteeing said indebtedness, or any part thereof. whether named as an Insured herein or not, subject other- wise to the provisions hereof. 2. Benefits after AC(IUisition of Title If an insured owner of the indebtedness secured by a mortgage descrihed 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 indehtedness, or any part thereof, or if n federal agency or instrumentality acquires said estate or interest, or any part thereof, as a consequence of an in- Sllrarwe 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 fa\'or of such Insured. agency or instrumcntullty, suhject 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 hy reason of the following: (a) Any law, ordinance or govern- mental regulation (including but not Iim. ited to huilding and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, AND STIPULATIONS 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. (I>) Go....ernmental rights of police power or eminent domain unless notice of the exercise of such rights appeals in the puhlic 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 such land abuts, or the right to maintain therein vaults, tunnels, ramps or any other structure or improvement: or UllY rights or easements therein unless this policy specifically prOVides that sllch property. rights or easements are insured, e:-.rcpt that if the land abuts upon olle or more physically open streets or highways this policy in:,ures the ordinary rights of ahutting owners for access to one of such streets or highways, unless otherwise ex- I";epted or excluded herein. (d) Defects. liens. encumbrances, ad- verse claims against the title as insured or other maUers (1) created, suffered. as- sumed or agreed to hy the Insured claim- ing loss or damage; or (2) known to the Insllred 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 (,1) resultinp; in no los~ to the Insured Claimant: or (4) attuchini-: or created suhsequent to the date hereof. (e) Loss or damap;e which would not have heen sustained if the Insured were a purchaser or enclImhrancer for value without knowledge. ({) Any "consumer credit protection", "huth in lending" or similar law. 4. Defense nnd Prosecution of Ac- lions - NOlice of Claim to he 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 against the Insured, or defenses, restraininp; orders, or injunctions inter- posed against a foreclosure or sale of the mortp;ap;e and indehtedness covered hy 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 mortj!:age 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 III the court of last resort. (b) In case any such action or pro- ceeding shall hc hegun, or defense inter- posed. or in case knowledge shall come to the Ihsured of any claims of title or in- terest which is "adverse to the title of tht' estate or interest or lien of the mortgage as insured. or which might cause loss or damage for which the Company shall or may be liable by virtue of this policy, or if the Insured shall in good faith contract to sell the indehtedness secured hl" a mort- gage co\ered by this policy. o"r. if an Insured in good faith leases or contracts to sell, lease or mortgage the same. or if the sllccessful hidder at a foreclosun~ sale under a mortgage covered hy this policy refuses to purchase and ill any such event the title to said e:,tate or in- terest is rejected as unmarketahle, the Ill"iured shall notify the Company thereof in writing. If such notice shall not be given to the Company within ten days of the receipt of process or pleadin!!:" or if the Insured "hall not, ill .....riting, prompt:)' notify the Company of any defect, lien or encumbrance insured ap;ainst which "h<lll come to the kno.....ledge of the In- Silled. or If the InsUled shall not. ill writing, promptly notify the Company of any such reje<;tion by rcason of claimed ulllllarkctahility of title. then all liability of the Company in regard to the suhjer.t matter of such action. proceedin~ 01 matter shall cease and terminate: I~ro" vided, ho.....ever. that failure to rltJtih. shall in no case prejudice the claim o"f any Insured unless the Company shall he actually prejudired by such failure and then on 1\. to the extent of such prejudice. " (c) The Company shall have the right at its own cost to institute and prosecute any action or proceeding or do llny other act which in its opinion may be necessary or desinrhle to estahlish the title of the estate or interest or the lien of the mort" gage as insured: and the Com pan)' may take llny appropriate action under the term.'> of this poliry whether or not it shall he liable thereunder and shall not therehy concede liahility or waive any provision of this policy. (d) In all cases where this policy permits or requires the Company to pres- eCjlte or provide for the defense of any action or proceeding, the Insured shall secure to it the right to so prosecute or provide defense in such action or pI ()- 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) .. California Land T1Ue AS;soClabon Standard Coverage Pohty Form Copyright 1963 SCHEDULE A Effective Date: Amounl 01 liability: S 2,000.00 October 27, 1972 at 8:01 A.M. Policy No: Premium S 7210637-45 50.00 INSURED THE CITY OF ARCADIA, a municipal corporation 1. The estate or interest 111 the land described or referred tu in' this :,chedule covered by Ihis policy IS: a fee 2. Title to the estate or interest covered by this policy at the dale hereof is ve::.ted in: THE CITY OF ARCADIA, a municipal corporation 3. The land referred 10 in this policy is situaled in lhe State of California, County of and is described as follows: Los Angeles The Southerly 6 feet of Lots 53 and 54 of the Haven Tract, in the City of Arcadia, as per Map recorded in Book 13, Pages 22 and 23 of Maps, in the Office of the County Recorder of said County. . Cohlornla Land Tille AssOClallon Standard Coverage Pohcy Form Copy tight 1963 SCHEDULE B This policy does not insure against los, or damal\c hy rea, on of the f ollowinl\: PAHT I 1. Taxes or assessments which are not shown as eXI~tlllg liell~ by the rCl:ords of any laxing authority that levies taxes or assessments on real properly or by the public records. 2. Any fads, rights. interests. or claims ""hid) are not showll by Ihe jlublic records but which could be ascertained by an inspection or said land or by making inquiry of per~on~ in po.::.::ession thereof. 3. Easements, claims of easement or encumLranl'e~ ,....hich ure not ~howlI hy the puhlic records. 4. Discrepancies, conAicts in boundary lines, shortage ill area. elll'l'oaclllllent~: or allY other fads whidl a correct survey would disclose, and which are not ~hown hy the puhli,' rel'onl..., 5. Unputented mining claims; reservati OilS or exception!' ill patents or in Ads uuthorizin~ the i~~uant'c thereoC; water rights: claims or title to water. PAnT II 1. General and special taxes for the fiscal year 1972-1973, a lien not yet pay~ble. 2. The right to lay pipelines for the conveyance of water over said land, together with the right to enter upon to examine and repair same, as provided in the deed from H. A. Unruh recorded September 16, 1890 in Book 666, Page 313, of Deeds. Said easement is blanket in nature. . ~ "J.: 10" ~ ~ 'J: ~ ~ ~ //Ja l /t(hf '-11-,. N -<" o 0> -<--...... << -<" "'?.r- ~'-k <7J..- ~ NeWMAN \) '0 Ave 150 so " " .. " .. '. .. 5D 0 48 () '" I, , ~47 45 \ , 49 46 44 43 42 4t 40 39M , - - 50 ---,- I 0 I '" 5/ <l 10"'53 54 55 56 57 58 59 60 6/ "" I", ISO "- "" "- ~ ... 52 <> , , hof.' \ ',','!'~ 13.s- .>() .. " 50 ~- " " .. .. 100 ~ COLORADO 8LVD.~ .LIAveN TRACT L 0 iJ 33 -IIJr<< 6'; ft( .B 13/22-;>3 "This plat IS for }ullr aid III 10' .1Iin~ ~our Innd \\ llh rdl'It'I1('e to streets and other PllJ'O'C!:;' It i:-; not a sliney. Whiff: lids plat is hclicwd to be ,'orn'cl, the Company assumes no linhilily for any loss OCCllrnn~ by rca,;on of reliann' Iheh'on," SEcur~IT'.-' TITLE 1..........UH,......<:.i. c'-..\o....... ,. CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) requested by the Company the Insured shall give the Company all reasonable aid in any such action or proceeding, in effecting settlement, securing evidence, obtaining witnesses, or prosecuting or de. fendinp; such action or proceeding, and the Company shall reimburse the Insured for any expertse 50 incurred. 5. Notice of Loss . Limitation of Action 1n addition to the notices required under para~raph 4(h), 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. a~e shall have been determined and no right of action shall accrue to the Insured under this voliey until thirty days after such statement shall have been furnished and no recol'ery shall be had by the In. sured under this policy unless action shall he commenced thereon within fi\'e )ears after expiration of said thirty day period. Failure to' f L1rnish such slatement of loss or damar::e, Dr to commence ~uch actioll within the time hereinbefore specified. shall he a fonclusive har against main- tenance b}' the Insured of allY action under this policy. . 6. Option to Pay, Settle or Compro. mise CIllims The Company shall have the option to payor senle or compromise for or in the name of the Insured any claim insured against or to pay the full amount of this policy, or. irt case loss is claimed under this policy h)' the owner of the indebted. ness secured 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 co!!ts, attorneys' fees and e):' penses which the Company is obligated hereunder to pay. shall terminate all liabilily of the Company hereunder. In the event, after notice of claim has heen f!iven to the Company by the Insu~ed, the Compan)' offers to purchase said indebt. edness, the owner of such indebtedness shall transfer and assign said indehtedness and the mort~lIf!e securing the same to the Company upon payment of the purchase price. 7, Payment of Loss (a) The Liability of the Compauy under this policy shan in no case exceed. in all, the actual loss of the Insured and COStS and attomeys' fees which the Com. pany may he ohligated hereunder to pay. (b) The Company will pay, in addition to any loss il1sured against hy this policy, all 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 by 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. hrance not excepted or excluded here.' in removes such defect, lien or encum. brance within a reasonable time after receipt of such notice, or (2) for liability voluntarily assumed by the Insured in setllin~ any claim or suit without written consent of the Company, or (3) in the event the title is rejected as unmarketable hecause of a defect, lien or encumbrance not excepted or excluded in this policy, until there ha<; been a final detennination hy a court of competent jurisdiction SllS. taining such rejection. (d) All payments uilder 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 producinf! this policy for endorsement of such payment unless the polky 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 indehtedness secureci by a mortp:age shown in Schedule B is an Insured herein then such payments shall not reduce pro tanto the 'amOllnt of the insurance afforded hereunder a~ to such Insured. except to the extent Ihal such payments reduce the amollnt of Ihe in. d.ebtednes~ se{'ured h)' such mortgage. Payment in full by any person or \'oluntary sati~faction or lelease h)' the Insured of a 1l10rtp:ap:e covered by this policy shall terminate all liahility of the Company 10 the insured owner of the indebtedness secured hy such mortgage, except as pro- vided in paragraph 2 hereof. (e) When liahility has heen definitely fixed in ar:r:ordance wilh the r:onditions of this policy the loss or damage shall be payable within thirty days thereafler. 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 priorit}, of any mortgage shown or referred to in Schedule R hereof or Any mortp:ap:e here. after execuled 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 B shall not apply to an Insured owner of an indebtedness secured by a morlp:age shown in Schedule B nnless such Insured acquires title to said estate or interest in satisfaction of said indehl. 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 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 cover' the loss of the In. sured, the Company shall he 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, hut 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 hy the Company, shall tn.nsfer to the Company all rights and remedies 8J!:ainst any person or prop. erty necessary in order to perfect such ri{t.ht of suhrov;ation. and shall permit the Company 10 use the name of the Insured in any transaction or litigation ilwolvinp: such rights or remedies. If the Insured is the owner of the in. dehtedness secured hy a mortgage covered by this policy, such Insured may release or substitute the personal liability of any debtor or p:narantor, or extend or other. wise modify the terms of payment, or release a portion of the estate or interest from Ihe lien of the morlp:age, or release any collateral security for the indebted. ness, provided such act does not remh in any lo~s of priority of the lien of the mortp:ap:e. 10. Policy Entire Contruct Any action or actions or rights of action that the Insured may have or may bring 8J!aillst the Company arising out of the status of the lien of the mortgage covered hy this policy or the title of the estate or interest insured herein must be hased on the provisions of this policy. No provision or condition of this policy can be waived or changed except by writinp; endorsed hereon or attached here. 10 signed by the President. a Vice Pres. ident, the Secretary, an Assistant Secre. tary or other validating officer of the Com. pany. II. Notit:es, \\'here Sent All notices required to be p;ivcn till' Company llnd uny statemClIt in writillJ! required to he furnished Ihe COlllpllt1) shall he nddre~st.d 10 it at the ollil.e whi('h issued this poliq' or to its Home ani.",. 13640 Roscoe Roulevard, Panornllln Cit). Califorlllu 91409, 12, THE PREMIUM SI'EClFIED IN SCHEDULE A IS THE ENTIIlE CHARGE .'011 TITLE SE,IRCIl, TITLE EXAMINATION AND TITLE INSURANCE.