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HomeMy WebLinkAboutD-1873 I <, o . ~ ., . 1 ,. \ \ CERTIFICATE OF ACCEPTANCE BKD5798PC 30 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 February 1, 1973 , from or executed by Richard Scanda1is and Barbara Scanda1is , is hereby accepted by the City of A,cadia 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 authorized officers. ~~/ ;1. p/~ C' Y I'anager PRO TeMPORE The document thus described is hereby ~lL~ City Engineer ."m..'_.~ Clt "'y ---- .\ ~ ~. '. l' }ss. ON -} A l'JuA-!Z 7' 3- D , 19:z.3.., before me, the undersigned a Notary Publ;" in and for the State of California with principal office in the County of L 0 <; A,.u G F L C S- , personally appeared STATE OF CALIFORNIA, County of L 0 " IirJ6.E.LES ....~...................~;:I~~:l.;;:.......: R I CH.,tf,eb Sc 19 A,.) iJ;9 <... j .s. ~ : . ROBERT R. CISNEROS ! r :"s NOTARY PUBLIC - CALIFORNIA Lown to me to be the person_ whose name...LS / -: PRINCIPAL OFfiCE IN : ' . 5 LOS ANGELES COUNTY tlbscribed to the within Instrument, and acknowledged to me that fi E.. , My Commis$ion Expires May 24. 1974 ~ecuted the same, WITNES my hand and official seal. " ......................................... SIGNATURE OF' NOTARY, NOTARY PUBL.IC IN AND HE STATE OF CAL.1FORNtA " NOTARY'S NAME AND COMMISSION EXPIRATION DATE PRINTED ~, ..... -..'AE-C:;QRDlloqu', REQUESTED BY . ' CITY OF ARCADIA I 571 I(Y /6 /~~ l RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY. CALIF. OR SECURITY TITLE INSURANCE CO. MAR 19 1973 AT 8:01 A.M. 8KD579Bpc 29 AND WH~N RECORDED NAIL TO I No",. City Clerk Sir..' Addle" P.O. Box 60 City & Arcadia, Ca. 91006 $Iote L MAIL TAl STATEMENTS TO I City of Arcadia No",. Slr..t Add,e.. City & Slole L "I Registrar-Recorder U.~n -.l SPACE ABOVE THIS LINE FOR RECORDER'S USE "I -.J DOCUMENTARY TRANSfER TAX $m.. un ........................................... __COMPUTED ON FULL VALUE OF PROPERTY CONVEYED, _OR COMPUTED ON FULL VALUE LESS LIENS AND ,..-,.;'~UMBRANCES REMA~~I G AT TIME OF SALE. ~~. S....,-{.C<>, Signature of Dedarant Qr Age mining tax. Firm Name I Grant Deed 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, RICHARD SCANDALIS and BARBARA SCANDALIS hereby GRANT(:i) 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 northerly 6 feet of Lots 30 and 31, Block 83 of Arcadia Santa Anita Tract, in the City of Arcadia, County of Los Angeles, State of California, as per map recorded in Book 15, Pages 89 and 90 of Miscellaneous Records in the office of the County Recorder of said County. EXCEPT therefrom the East 49 feet of said Lot 30. Free recording requested under Gov. Code 6103. Document necessary due to City acquiring title. . CJ1 ~ ~ " . ~ . Dated j~~I0YL-d.e1./ ~_(?/_LCZ 1 ~ . . '?YJ }ss. ~~ RJ.chard Scanda1is . .eCl!r./~~C<. .&-~~/fr.-&.- Barbara Scanda1is . r l'~ STATE OF CALIFORNIA COUNTY OF LOS ANGELES On ~Ol)-L. . ~ () / 'i -; ;< heflll'c me, the under. , signed. a Notary Puhlic in und for said Stale. personally appeared Riik~ra ~ 1 lis --j Barbara Scanda1is ;- .... J '" ': ;j U W U Name (Typed or Printed) OFFICIAL SEAL FLORENCE E. NEERGARD N01ARY PUBltC.CALlFORNIA LOS ANGELES COUNTY MyCommlssion Expires Mar. 4.1976 () i: I. I. () to " , IS . known to me In he the pmanLwho,e name . ....., 'h',",'ihed 10 Ihe wilhin instrument and acknowledged that ~ S e c)"CClllcd the sam{'. WITNESS my hand and official seal. C, Signature :&:'FO~'" P. 0, Box 60, Arcadia, CA. 91006 (Tlll~ ~"'a rm "nidal notarllll >><,al) ., Tille Order No. Escrow or Loan No. MAIL TAX STATEMENTS AS DIRECTED ABOVE 7..2/tJ&50 - L/S; <;2) "6 . ., . , , . .' ~ GRANT DEED Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL " ..... ~ ~.. .. . 1".'. ." "" GRANT DEED Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL "- ....- , .... ~. . . .. '. , MARK H. BLOODGOOD AU D1TOR.CONTROI..I..ER . COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR.CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 """""""'^ 974-8371 October 18, 1973 The City of Arcadia 240 West Huntington Dr1 ve Arcadia, California 91006 Attention: Robert D. Ogle City Attorney SUBJECT: Colorado Boulevard Parcel No. 23 Richard and Barbara Scandalis, grantors Gentlemen: Pursuant t~ your letter dated March 28, 1973, taxes have been cancelled in accordance with Section 4986 of the Rf3venue and Taxation Code. This cancel- lation was ordered by the Honereble Foard of Super- visors Oct. 16, 1973, by Auth:>rization No. 32664. Very truly yours, MARK H. BLOODGOOD, Aurtitor-Controller ff ./ . / ..~,_, ., .' ,../ II ~C:u'/q:(,t<.I..1 /.~'.l~./.",.,/...y '--- By Edward Guerrero, Chief, Tax Di vicion EGfMG/tc Tax Div. /fc-11 3/'(3 D-- )87 ~ ROBERT A. GII..I.. CHIEF DEPUTY E. GUERRERO CHIEF, TAX DIVISION RECEIVED OCT 23 1973 CITY OF ARCAlJl, \ CITY P.1TORNE'I ~ ". . ~ , , March 28. 1973 Mr. ~~rk B. Bloodgood, Auditor-Controller 500 Waet Temple Street, Room 153 Los Angeles, Californie 90012 Attention: Tax Cancellation Section Subject: Request for Cancellwtion of T~xe$ Colorajo Boulevard Parcel No. 23 ?ichard snd 3arbara Scandulia Dear ~r. Blood~Od: J>lel'sc cancel as of the date o~ rccorcnng all taxes on the property deacrlbod in the attached copy of de 3d. This prope)~ty :I.:, S?Oi.' street tl1dening purposes. 'l.'here is no bull1!l113 on it. Very truly yours, HOBGHT D. (WiL"8 01 ty Attorr..ey RDO:at Attac~~0nt / cc: City Clerk ': .~'-_"""H""''''''-'' ,,,......................'......... ....., . , '. ~ , \ ," ~ .1 . tJ/U Y- I U '.' ~ CITY OF ARCADIA BKR4165pc749 "~I \. AND WHEN RECORDED MAIL TO RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY. CALIF. OR SECURITY TITLE INSURANCE CO. MAR 19 1973 AT 8:01 A.M. Registrar-Recorder :~ ~.I_,~l Name I City Clerk , Street P.O. Box 60 Address "I City State Zip Arcadia, CA. 91006 L j SPACE ABOVE THIS LINE FOR RECORDER'S USE- .Jnrtial Irrnnuryanrr ','" WHEREAS, BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, a national bank. ing association, organized and existing under the laws of The United Scates of America, as Trustee under Deed of Trust dared u.,s.\'I'.t.\'m!>E!.!':uJ()..uuuuuu., 19.~c?.., made by ...~:i.c:I1."'z:cluuS.c.".rl<l.a.u.~.u"'rl.d.u.B."'I:.I)",.r."'.u~c:a.Ilcl.",.l.~~.,uuu ...... .1l1l.s~."Il~. u ".":~ ...",~.f.~. ..uu...uu.. uuuuuu U...u. u u...u. u uu... .u.uu.UUUUu........... u......u.. u...... .uuu TrusTOr, and recorded u.uu?E!P'~e.l1)1J."z:J~.u..uu....u, I9.u.~c?., in Book uu:ri+~()}u Page u...~i+:()uuu of uu.()Xf.~".i.".I...~e.".()r:~.~...uuu in the office of the Recorder of the nhmm...m....nh____ County of ......h..~~_~___A~g_~~~_~___.___..........._.._.....hh_' California, has received from Beneficiary thereunder a written request ro reconve}', in accordance with the terms of said Deed of Trust, the estate now held by said Trustee under said Deed of Trust in and to the hereinafter described propcrry. said Beneficiary having presented said Deed of Trust and note or notes secured thereby for endorsement; NOW THEREFORE, in accordance with said request and the provisions of said Deed of Trust, BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, as Trustee, does hereby reconvey, withour war. ranty, TO THE PERSON OR PERSONS LEGALLY ENTITLED THERETO, the esrate now held by it rhereunder in and TO tbar portion of rhe property described in said Deed of Trusr, situate in rhe ..................................................... County of ...n..........~~.~...~g.~~.~.~....u...........................u..................................._n_.........h......' California, described as: The Northerly 6 ~eet of Lots 30 and 31 in Block 83 of Arcadia Santa Anita Tract as per maQ recorded in Book 15 Pages 89 and 90 of Miscellaneous Records, in the office of the County Recorder of said county. EXCEPT therefore the East 49 feet of said Lot 30. Dated: . ........!i.e.!>".lJ".rJ'..J.2................, 19...(:3... No. ......eJ6Q.~.l4...0.5Q.......................... BANK OF AMERICA Y TIONAL TRUST AND SA ~OClA:]JO ,as Tr~e~,_ By......,'...... . .~.. ..u.............. By...q:gJ;:.~}:1J.::~,x:= ~ud ll~TRUST OffICER " ~urtiul iternnueyunre of ~tOptrtp QCobtteb lip Jileeb of Q!;tUllt Escrow No. ................................ Order No. ................................ REGISTER NO. FROM 1!&uuk of .Americu NATIONAL TRUST AND IAVINGS ASSOCIATION -! ~ ~ RECEiVED' D- J f? 77; ~ OUl. OF PUDUC WORd CITY OF I.ReAnlA 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 staled 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 e~tute or interest covered hereby in the land described or referred to in Schedule A, existing at the date hereof, not shown or referred to in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulations: 0' 2. Unmarketability of such title: or 3. Any defect in the execution of allY mortgage shown in Schedule B l'lecuring an indebtedness, the owner of which is named as an Insured in Schedule A, hilt only insofar as such defect affects the lien or charge of said mortgap: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 excluded 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. Secretary ~....,..""\\.\\\\ ~~~SUR.q III, .:\. \:.........J\lC '1# :~'\;... ...~ '1/ ff~... ...CO/~ f1:'" :,,,t\\\\P 0 RATED~"";i, ~'-. .\' .?~ ~::::: -.- :""O~ ~_. ~ 'J>i;: ~'3V"ARCH 5 \O;,'i;o,.!~f 'Ii .Joe . I _,-' '/ v:.;. . " I, -..r ... .. k .:::: I, .... .- 'T:=' I f} ....... ,,- -= 1"'I~Al/fO\\\\ _~ ~\\\'>,,:,"~ -". r ,"""" />" c::::).:--"?/'-......-.. ,. "~--.. 1tI#,}(~ ~./W~.. ~. President An Authorized Signature P.218 (G S) 4!lS.tItCD '""lI'I"n C_""Y oI......."~.. A~I""" T,.__ _t. CONDITIONS AND STIPULATIONS 1. Definition of Terms The following terms when lIsed in this policy mean: (a) "land": the land described. spe- cifically or hy reference, in Schedule A and improvements affixed thereto which by law constitute real property: (h) "P1lhlic records": those records which impart constructive notice of mat- lers relating to said land: (c) "krlOwledge": actual knowledge, not ('OllslrUctive knowledj..:c or notice which may he imputed to the IIlSlllcd hy reason of an)' public records; (d) "dutc": the effective dale: (e) "mortgage": morlga~e, 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 hy a lIIortp:age shown in Schedule H is named as an Insured in Schedule A, the Insured shall indmle (I) each successor in interest In ownership of such indebtedness, (2) allY such owner who acquires the estate or intelest rderred to in this policy by fOle- closure, tfllstee's sale. or other lcgal man- ner in satisfanion of said indehtedness. and (3, any federal ap:ency or instrumen- tality whil;h is an insurer or p:Uarantor under all in<:.urallce contru/;t or guaranty lllsurillJ.!: or guaranteeing said indehtedne"s. or any p4rt thereof, whether named as an Insured herem or not. l'uhject other- wise to the provisions hereof. 2. Benefits after AC1luhdtion of Title If an in!;;ured owner of the indebtednesl' secured by u mortgage descrihed in Sched- ule B acqlllres said e~tate or interest, or any part thereof. hy foreclosure, trustee's sail: or other legal manner in sati~factlOn of suid indebtedness, Ot uny part thereof, or if a federal agency or instrumentality acquires said estate or interest. or any part there()f. as a conseqllence of an in- surance COntract or p:uaranty insuring or guaranteeil1g the indehtedness secured hy a mortg:agl~ covered by this policy, or any part thcrCf)f. this poli('y ~hall I'ontinue in force ill ftl.\'or of such Insulcd. ap:clIl'Y or instrulIlcntulity, suhject to uti of the COll- dition~ and stipulation!' helt'Of. 3. E"(c1l1l'oions from Ihc CI)\Crage of Ihi!<o I~olic,. This policy does not insure aguinst loss or damag:e hy reason of the following: (a) Any law, ordinance or govern. mental rep;ulation (includlnJ!; hilt not lim- ited to hl1ilding and zolling: ordinancf's) restricting or rep:ulating or prohibiting: the occupancy, use or enjoyment of the land, or regulating the character, dimensions, or location of any improvement now or here- after erected on said land, or prohibiting a separation in ownership or a reduction in thc dimensions or area of any lot or parcel of land. (b) Governmental rights of poHre po.....er or eminent domain tIldess notice of the exercise of such rights appears 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 whieh !.uch land abuts, or the nght to maintain therein vaults, tunnels, ramps or anv other structure or improvement: or an}' 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 man: physically open slrt.cls or hi~hwa}'s thi.. policy insures the ordinary rights of ahuttlng owners for a('('ess !o onc of such streets or highways, unless otherwise ex- cepted or exCluded herein. (d; Defects. lien<:.. ellf~um"rances. ad- ver;"e claims against the title as insured or other matters (1) created. suffered. as- sumed or agreed to by the Insured claim- inl! loss or damage: or (2) known to the In~ured Claimnnt either at the date of this policy or at the date sllch Insured Claim. ant a('quired an estate or interest H1.<:.ured hy this policy and not .<:.hOWll by the publtc records. unless disclosure thereof in writ. ill~ by the Insured shall ha\"e been made to the Company prior to the date of this policy: or (,1) re:"llltin~ in llO 10:"" to the Insured Claimant: or (4) attaching or created <:.uhsequent to the date hereof. (e) Los~ or dama~e which would IIOt ha\"e been <:.""tallled if the Insured werc a purdHlser or en/'ulllhranl'cr for value without knowledge. (fl Any "consumer credit protection". "truth in lending" or similar law. 4. Ilcfcnsc and Prollel:lIlion of Ac- tions - NOlice of Claim to be Gi"cn by Ihe Insured (a) The Company, at its own cost and without undue delay shall provide (l) for the defell~e of the Insured in all litigation I'onsisting of al'tlOllS or proceedings com. /'CI1C(!lJ u{!ainst the Insured. or defenses, restraining order.... or injull('tions inter- po~ed against a foreelo~ure or sale of the lIIortJ!age and illdebtedlles~ I'overed h} this Jlolicy or a sale of the e:"tate or interest in said land; or (:2) for such action as may he appropriate to establish the title of the e..tate or mterc..-t or the lien of the lIlottJ!age as insured. Vthich litigation or artioll in any of sll('h event..- i~ founded upon an alleged defect, lien or ell cum- branr:e insured a~ainst by this policy, and may pursue any litigation to final determ- ination in the COUrl of lust resort. (h) In case any such aClion or pro. r:eeding shall he hegun, or defense inter. posed, or III case knowledge shall come to the Insured of any claims of title or in- terest which is ad\"er~e 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 shull III good faith contracl to sell the indebtedness secured by a mOt t- gage covered by this policy, or. if an Insured in good faith leases or contract:' to sell. lease or mortgage the same, or if the successful bidder at a foreclosure sale under a mortguge covered by this policy refuses to purchase and in any sneh cvent the title to >:llld estate or ill- tet est is rejected nOl unmarketahle, the In"ured shall notify the Company thereol ill writlllg. If Slll:h IIotil'e shall lIot he g:iven to the Company within ten days of the receipt of process or pleading:s or if the Insured shall nOI, in writinj:!:, prompt:}' notify the Company of any defect, lien or encumbrance insured ap;ainst whil'h ;"hall t'ome to the knowledge of the In- sured. or if the lll~ured shall not. 111 writing, promptly notify the Company of allY !'IH;h reJ'eetlon It)' reason of claimed ulllllarkc!ahility of title. then all liability of the Company in regl1ld 10 the suhject matter of such action, proceedmg: or matter shall I'ease and terminate: pro. vided. hoVtever, that failure to notify shall in no case prejudice the claim o-f uny Insured unless the Company shall he actually prejudil'ed hy sllch failure and then on I\' to the extent of slll'h plcjudice. . (el The Company shall ha\'e the rip;ht at its own cost to in<:.titute and prosecute allY action or pro('eedinl!: or do any other uet whll'h in it." opinion lIIay he necessary or desirahle to estahlish the title of the estate or interest or tile lien of the morl. gage as insured: and the Company may take any appropriatl: ul:tion under the ternh of this policy whether or not It ..IHlll he liable thereunder and shall 110t therehy ,on('ede Iiubility or wal\'e any pw\'isioll of this poliry. (d) In all cases where this polky permits or requires the Company to prc~- e(~ute or prm"ide for the defense of an\" al'tion or pro('eeding:. the Insured sh~II secure to It the right tn so prosecute or provide defense in :,uch action or pro. ceeding. and all appeals therein, and I)("r- mit it to u<:.e. at its option. the name of the In.<:.ured for such rJl1rpose, Whenever (Conditions and Stipulutions Continued and Concluded on Last Page of ThIS Policy) j"-'{'IQ-};. I.... .../ nev. California Lemd Title Association Standard Coverage Policy Form Copyright ,1963 SCflEDULE A Effel'li\'c Date: Amount of liability: S 2,000.00 March 19, 1973 at 8:01 A.M. Policy No: Prcmium S 7210650-45 50.00 INSURED THE CITY OF ARCADIA, a municlpal corporation 1. The eslate or inlcre::-L in the land dcscriLed or referred 10 III lhi~ ::-chcdulc co\'clcd by Ihb policy IS: a fee 2. Title 10 the e~latc or interest co\'ercd by this policy at the date hereof i~ \'e~led ill: THE CITY OF ARCADIA, a municlpal corporation ~. The land referred (0 in this policy is situaled in the Slale of Culiforniu: County of and is described as follows: Los Angeles The Northerly 6 feet of Lots 30 and 31, Block 83 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. EXCEPT therefrom the East 49 feet of said Lot 30. . Cahlorma Land TItle ASSOClahon Standard Coverage Policy form COPYright ]963 SCIIEDULE B Thi~ poliey doe~ not in~ure again:-tlo:-;... or damagl' hy n'a:-;oll or the following: PAWl' I 1. Ta\e~ or asse:-;sments which arc 1I0t showlI a:, cxi:,till~ lit~ll:' hy tht' rCl'ord~ of ;IllY 1.I'\il1~ authority that le\'ic~ taxc~ or assessments on Ical properly or hy the puhlic ICt'{)r<b. 2. Any fads. ri;!ht:-. intcre:,ts. or claims \\hic'h arc not ~hO\\1l IIY (he publi(' record::- hul \\hi{'h ('ould he a~('cll.linetl hy an inspection of ~aid land 01' hy IIwking- inquiry of pCl:-Oll::- ill po:-:-e:-~ioll Ihereof. ~. Easements. claims of easement or elH;umhrallce~ \\'hi('h ale not :-hO\\ll hy the puhlic IccoHb. .1. Discrepancies. ('onllicts in houndary lincs. :,horlagc ill area. cll('l'oa('hmcllt~. or allY other fad~ "Ili('h a ('orrcct su!'w.:y would dise10sel and which arc not :,llOwl1 hy the puldi(' I'c('orcl~. 5. Unpatented mining claim:,; re:,en'ation~ 01' exceptiuns ill I..ltelll~ 01' ill A.d~ <luthol'izin~ lhe 1~~IWIJ{'C thereuf: water rightsl claims or title to watcr. PAIlT" 1. General and special taxes for the fiscal year 1973-1974, a lien not yet payable. 2. Second installment general and special County and City taxes for the fiscal year 1972-1973, in the amount of $283.16. . ~.~ (~ \ ..CUl'ln-y) ~.- ~ --<:'-.. <=:) =......;".., --=- <:::- "" N ~ ~~ ~ ~ COLc7e4.oa .8L )/L/, 4.0 '0 ~ ~ so ;;,- - - ~-"'"" .50 // so I / 36 ~ I I ~ ~I ~ !Ii 1- [1 ~ ~ I ~' " 35 ~~ ~ :32 3/' 130 ~ ~ \ .t'33 \ - :-[ r- 4~- I \>: '" 3~ ^' ~ I /4.5 50 /I .50 Iv.s-o~ IJ ~"'3r /".0 50 // 60 ~ 3 ~ '" ~ '<\ ~ ~ "i ~ I) ~ .,f .5" Vi .z 11 '- ~ '- ~ / ~ '50 /-/.5' ~ " ~ ~ ~ ~ " :il -<:'4 ~..6'Te- 67 4A?C4,G.J~ .s4'#T"4 4#/74 T~CT """'-<:C <SL~ 83 /,??R. /~J'9-9CJ uT/I;.. pl.11 i..: for pair uid in lo,'utillj.l: fOllr land with re/erelll'!- {() ~ltt'ct.. and othr.r parC'eJ!-. II i~ nol a ~ur"'}. Willi,. thi,. pint ,.. Ilt'llt~\{.J In Ilt' COffP('!, Iht, CfllupallY a~SUlJ\c:; 110 liallilit)' {UI uny 10"" ol','urrin.l! by ft'u..tH\ of fI.lialll'" 1111'11'011," SECUFJITY TITLE INSURANCE COMPANY . CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) requested by the Company the Insured shall give the ComparlY all rea~onab.le aid in any such action or proceeding, In effecting settlement, securing evidence, ohtaining witnesses, or prosecuting or de. fendinJ!; such action or proceeding, and the Company shall reimburse the Insured for any expense so incurred. 5. Notice of Loss " Limitation of Action In addition to the notices required under parai!:raph 4(b). 8 statement in writing of any loss or damage for which it is daimed the Company is liable under this policy shall be furnished to the Company within sixty days after such loss or darn- 8g"e shall have been determined and no ri~ht of action shall accrue to the Insured under this policy until thirty days after such statement shall have been furnished and no reCQ\'cry shan be had hy 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 damage, or to comnlence such action within the time hereinbefore specified, shall he a ('ondu~i\'e bar against main- tenance hy the Insllred of - any action under this policy. 6. Option 10 Pay, Setde or Compro- mise Claims The Company shall have the option to payor settle or compromise for or in the name of the Insured any claim insured against or to pa). the foil amount of this 110liC)', or, in case loss is claimed under this policy by the ownef of the indehted. ness secured by a mortgage covered by this policy. the Compar1Y 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, auorners' fees and ex. penses which tile Company is obligated hereunder to pay. Shllll terminate all liahility of the Company hereunder. In the event. after notice of claim has been ~i\'en to the Company by the Insured. the Company offers to purchase said indebt. edness, the owner of $uch indebtedness shall transfer and assign said indebtedness and the mortJ,:ap:e securing the same to the Company upon payment of the purchase prii'e. 7. Paymenl 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' feeg which the Com. pany may he ohligated hereunder to pay. (b) The Company will pay, in addition to any loss insured ap;ai!lst by this policy, all costs imposed upon the Insured in litip;ation carried on hy the Company for the - Insured, and all cOt>ts 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- 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 ,'oluntarily assumed by the Insured in settling any claim or suit without written consent of the Company, or (3) in the event the title is rejected as unmarketable because of a defect, hen or encumbrance not excepted or excluded in this policy, untIl there hus been a final determination by a court of competent jurisdiction sus- taining such rejection. (d) All payments under this policy, except payments made for costs. attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto and no payment shall he made without producin~ this policy for endorsement of such payment unless the policy he 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 sUi'h Insured, except to the extent that snch payments reduce the amount of tile in- debtedness secured by such mortp:age. Payment in full by any person or voluntary satisEaction or release by the Insured of a mortgage covered by this policy shall terminate all liahility of the Company to the insured owner of the indehtedness secured by such mortgage. except as pro. vided in paragraph 2 hereof. (e) When liability has been definitely fixed in accordance with the conditions of this policy the loss or damage shall be payable within thirty days thereafter. 8. Liability Noncumulative It is expressly understood that the amount of this policy is reduced by any amount the Company may pay under an}. policy insuring the validity or priority of any mortgage shown or referred to in Schedule B hereof or any mortgap:e here- after executed by the Insured which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment to the Insured under this polic}.. The provisions of this paragraph num- hered 8 shall not apply to an Insured owner of an indebtedness secured hy 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 Seulement Whenever the Company shall have settled a claim under this policy, all right of subrogation shall vest in the Company unaffected by any act of the Insured. and it shall he subrogated to and be entitled to an ri~hts and remedies which the Insured would have had a~ainst any person or property in respect to such daim had this policy not been issued. If the pay. ment does not cover the loss of the In. sured, the Company shall be subrogated to such ri~hts and remedies in the proportion which said payment bears to the amount of said loss. If loss should result from any act of the lnsured, 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 ap;ainst hereunder which shall exceed the amount, if any. lost to the Company by reason of the impairment of the right of subrogation. The Insured, if requested by the Compan}" shall trans Eel' to the Company all rights and remedies against any person or prop- erty ne('essary in order to perfe('t such right of suhrogation, and shall permit the Company to use the name of the Insured in any transaction or litip::ation involving such rip;hts or remedies. If the Insured is the owner of the in- debtedness secured by a mortgage ('overed by this policy, such Insured may release or substitute the personal Iiabilit)' of any dehtor or p;lIarantor, or extend or other- wise modify the terms of payment. or release a portion of the estate or interest from the lien of the mortgage, or release an)' collateral security for the indebted. ness, provided stich act does not re3ult in an)' loss of priority oE the lien of the mortp;a~e. 10. Policy Enlire Conlracl Any action or actions or rights of action that the Insured may have or may bring ap:ainst the Company arising out of the status of the lien of the mortp;age covered by 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 polic)' can be waived or chan~ed except by writing endorsed hereon or attached here- to signed by the President, a Vice Pres. ident, the Secretary, an Assistant Secre. tary or other validating offi('er of the Com- pany. 11. Notices, Where Sent All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at the office which issued this policy or to its Home Office, ]3640 Roscoe Boulevard, Panorama City, California 91409. 12. THE PREMIUM SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITLE SEARCH. TITLE EXAMINATION AND TITLE INSURANCE. . . SECURITY TITLE INSURANCE COMPANY \ POLICY OF TITLE INSURANCE ./ ~I SeCURITY TITLB SECURITY TITLE INSURANCE COMPANY HOME OFFICE 13640 ROSCOE BOULEVARD PANORAMA CITY, CALIFORNIA 91409 3444 WILSHIRE BOULEVARD LOS ANGELES, CALIFORNIA 90051 SECURITY TITLE INSURANCE COMPANY