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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.
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C' Y I'anager PRO TeMPORE
The document thus described is hereby
~lL~
City Engineer
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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
~,
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-..'AE-C:;QRDlloqu', REQUESTED BY
. '
CITY OF ARCADIA
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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",.
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Add,e..
City &
Slole L
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Registrar-Recorder
U.~n
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SPACE ABOVE THIS LINE FOR RECORDER'S USE
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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.
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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. .
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Dated j~~I0YL-d.e1./ ~_(?/_LCZ 1 ~
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RJ.chard Scanda1is .
.eCl!r./~~C<. .&-~~/fr.-&.-
Barbara Scanda1is
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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
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Name (Typed or Printed)
OFFICIAL SEAL
FLORENCE E. NEERGARD
N01ARY PUBltC.CALlFORNIA
LOS ANGELES COUNTY
MyCommlssion Expires Mar. 4.1976
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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
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GRANT DEED
Title Insurance
and
Trust Company
COMPLETE STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL
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GRANT DEED
Title Insurance
and
Trust Company
COMPLETE STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL
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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
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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
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CITY OF ARCADIA
BKR4165pc749
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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
:~
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Name I City Clerk
, Street P.O. Box 60
Address
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City
State
Zip
Arcadia, CA.
91006
L
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SPACE ABOVE THIS LINE FOR RECORDER'S USE-
.Jnrtial Irrnnuryanrr
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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
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~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
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RECEiVED' D- J f? 77;
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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:
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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
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~~~SUR.q III,
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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.
.
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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