HomeMy WebLinkAboutD-1855
RECORDING REQUESTED BY
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C I'I:Y OF ARCAD IA
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AND WHEN RECORDED MAIL TO
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Nam. City Clerk
$t,.., P.O. Box 60
Addr...
City & Arcadia, Ca. 91006
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MAIL TAX STAUMENTS TO
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Nam. City of Arcadia
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Clly &
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RECORDED IN OFFICIAL RECORDS
OF LOS ANGELES COUNTY, CALIF.
FOR SECURITY TITLE INSURANCE CO,
OCT 27 197Z AT 8:01 A,M.
Registrar.Recorder
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SPACE ABOVE THIS LINE FOR RECORDER'S USE
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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,.
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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.
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Dated
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STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
On
signed. [1 Nota!)' Public in and for said
Howard F. ~rady, Evelyn G.
Wayne F. Brady
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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
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Name (Typed or Plinted)
P. Q. Box bO, Arcadia. CA. 91006
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(Thj~ AII'3 fill UlUl'LaJ notarhll M'al)
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Tille Order Nu,
Escrow or Loan No.
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MAIL TAX STATEMENTS AS DIRECTED ABOVE
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BlIR 4059pcb t b
CITY OF ARCADIA
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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,
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N... City Clerk
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i'~:~u P. O. Box 60
Clly &
Slot. L Arcadia, Ca.
Registrar-Recorder
91006
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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.
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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
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Name (Typed or Printed)
IThl' .".:\ for official ""larlal .,'al)
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ci ty of Arcadia
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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..
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City of Arcadia,
Dept. of Public Works
P.O. Box 60,
L-Arcadia, Ca. 91006
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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.
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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
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COUNTY OF LOS ANGELES
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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
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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
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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.
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President
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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.
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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.