HomeMy WebLinkAboutD-1753
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CITY OF ARCADIA
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AND WHEN RECORDED MAIL TO
2411
RECORDED IN OFFICIAL RECORDS
OF LOS ANGELES COUNTY, CAUF.
1
City Clerk I
C:i!;ty of Arcadia
P. O. Box 60
Arcadia, California
. 91006 .J
15 ~~~ 11 AM SEP 23 1970
RAY E. LEE, Registrar.Recorder
NClme
Str..t
Addr...
City &
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SPACE ABOVE THIS LINE FOR RECORDER'S USE
MAll TAX STATEMENTS TO
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Addr.1I
City &
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DOCUMENTARY TRANSFER TAX $nn~_...........mnmmnnumn_:.'
__COMPUTED ON FULL VALUE OF PROPERTY CONVEYED,
_OR COMPUTED ON FULL VALUE LESS LIENS AND
NCUMBRANCES REMAINING AT TIME OF SALE. __ _.,'
J_Q",-Z Titre YnsUr8;!Ce and Trusr ecmoani
Signature of Declarant or Agent determining tax. Firm Name,
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Entitled to Free recording No consideration
per GC 6103
IFREE 1 M Ii .I
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City Attorney Grant Deed
TO 40lS.1 CA (1_70)
THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
FLORENCE F. WHEELER
hereby GRANT(S) to THE CITY OF ARCADIA, a municipal corporation,
the fpllowing described real property in the
Cou~ty of Los Angeles
City of Arcadia
, State of California:
...,-.
The easterly 12.00 feet of the northerly 50.00 feet of lot 390
'of tract No. 6561, as per map recorded in book 72 page 34 and
35 of maps, in the office of the county recorder of said county.
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Dated
July 2. 1970
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STATE OF CALIFORNIA }
COUNTY OF Los Angp.l P.R 55.
On July 2. 1970 before me, the under.
signed, a Notary Public in and for said State, personally appeared
FJorp.ncp. F. wnp.p.lp.r
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to be the person_whose name
instrument and acknowledged that
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Rhp.
. known to me
subscribed to the within
executed the same.
@"OFFICIALSEAL
'>0 ELIZABETH L. METCALF
. ."'~' N..JTARY i'U8LI':.CALlF:l~NIA
J. F'R~~~.::[f'AL '.~Fr"~E IN
LOS A~G:l~S COUNTY
My Commission Expire. Nov. t9, 1972
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Sigriature
L. Metcalf
. Name (Typed or Printed)
(Tlll~ al1'a fol' nn\dal nolarml srJ.1)
Title Order No,
Escrow or Loan No.
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MAIL TAX STATEMENTS AS DIRECTED ABOVE fJJ/JlJC A6.ENQ:-NO .1;\X.SJAIElviEN:1.
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GRANT DEED
GRANT' DEED
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and
Trust Company
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and
Trust Company
COMPLETE STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL
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COMPLETE STATEWIDE TITLE SERVICE'
WITH ONE LOCAL CALL
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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 January 8, 1970 , from or executed
by Florence F. Wheeler , is hereby accepted
by the City of Arcadia by the order or authorization of the City Council of the
City of Arcadia contained in Resolution No. 2963, adopted January 21, 1958, and
recorded in the office of the Recorder of Los Angeles County on January 29, 1958,
as instrument No. 3069 in Book 56448, Page 264, Official Records of Los Angeles
County; and the City of Arcadia consents to the recordation thereof by its duly
au~~orized officers.
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The~cume::t:h:~:ribed 1S hereby
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CERTIFICATE OF ACCEPTANCE
~K 04645rGA50
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CITY OF ARCADIA
AND WHEN RECORDED MAIL TO
RECORDED IN OFFICIAL RECORDS
OF LOS ANGELES COUNTY, CALIF.
FOR TITLE INSURANCE & TRUST CO.
1970 AT 8 A.M.
MAR~
RAY. E. LEE. Registrar.Recorder
1 City Clerk
Nom.
Street City of Arcadia
Addrou P. O. Box 60
City & Arcadia, California
5101. L 91006
MAIL TAX STATfMENT$ TO
1 ;1S ,/113 0 v C-
Nom.
Street
AddroIJ
Cily &
Sta~. L
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SPACE ABOVE THIS LINE FOR RECORDER'S USE ~
I FREE vsl
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DOCUMENTARY TRANSFER TAX $._____.. . -t.e..~.-.
--COMPUTED ON FULL VALUE OF PROPERTY CONVEYED
--OR COMPUTED ON FULL VALUE lESS LIENS AND
ENCUMBRA CES REMAI~G AT TIME OF SALE,
, / ' 2/.'
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Signature of Declara t or Agent de.' rmining tax. Firm Name
Grant Deed
AFFIX I.R.S, S...... ............................ ABOVE
TO 40!J C (0.671
THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY
FOR A VALUABLE CONSIDERATION, receipl of which is hereby acknowledged,
FLORENCE F. WHEELER
,
hereby GRANT(S) 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 weste~ly 12.00 feet of the northerly 50.00 feet_of lot 3~Q
of tract No. 6561, as per map recorded in book 72 page 34 and
35 of maps, in the office of the county recorder of said county.
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OFFICIAL BUSINESS
Document Entitled to Free Recording
Gov. Code Sec. 6103 J
THIS NECESSARY IN CHAIN OF TITLE
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Datcd
January 8, 1970
v ~~ J; 1t/J;t7~
Florence . hee.Ler
. '~; , 5TAT~; OF CALIFORr-IIA . }
, COUNTY OF LOS ANGELES '55,
On January 8, 1970 before me, the under-
signeu, a Notary Public in and for said State, personally appeared
Florencp. F. Wheeler
,
(.
. known to me
to be the person_whose naIDi' is subscribed to the within
instrument and acknowledged that she executed the samt'"o
::::: a:;:.;;;;/ d ~L/-"'-r
Elizabeth L. Metcalf .
Name (Typed or Printed)
OFFICIAL SEAL
ELIZABETH L METCALF
NJTARY PUBLIC-CALIFORNIA
PRINCIPAL OFFICE IN
LOS ANGeLES COUNTY
My COmmission Expires Nov. 19. 1972
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(This Il'('a ror onlclal notlrlallll'al)
Title Order No.
Escrow or Loan No.
MAil TAX STATEMENTS AS DIRECTED ABOVE
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GRANT DEED
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__Title_Ins.:uranc_e_ ___~
and .
Trust Company
COMPLETE STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL
GRANT DEED
Title_Insurance
and
Trust Company
COMPLETE STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL
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DON W. HAGE
MAYOR
City of Arcadia
C ROBERT ARTH
MAYOR PRO TEM
EDWARD L. BUTTERWORTH
ROBERT J. CONSIDINE
JAMES R. HELMS. JR.
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240 WEST HUNTINGTON DRIVE
ARCADIA, CALIFORNIA
LYMAN H. COZAD
CITY MANAGER
CHRISTINE VAN MAANEN
CITY CLERK
Mr.
500
Los
John R. Passarella,
West Temple Street,
Angeles, California
Auditor-Controller
Room 153
90012
Attention: Eleanor Parker, Tax Cancellation Section
Subject:
Request for Cancellation of Taxes
Baldwin Avenue Parcel No. 120 - Florence F. Wheeler
Dear Mr. Passarella:
Please cancel as of the date of recording all taxes on
the property described in the enclosed copy of deed. This prop-
erty is part of a larger parcel acquired for street widening
purposes. There is no building on it.
Very truly yours,
~~
ROB T D. GLE
City Attorney
RDO: jh
Enc.
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MAILING ADDRESSES
CITY HALL P O. BOX 150 910015
LIBRARY 20 W. OUARTE ROAD 910015
POLICE OEPARTMENT P. O. BOX 150 910015
FIRE DEPARTMENT 710 S SANTA ANITA AVE. 91006
TELEPHONES
446.4471 . 681.02715
446.7111
447.2121
4415.2128
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TO 1012 FC-DP 17-68)
Celifornio land 1'itle Association
Stllnd"rd Cover,:u;lll Polic)' Form
Copyrivht 196)
POLICY OF TITLE INSURANCE
ISSUED BY
Title Insurance and Trust Company
Tide Insurance and Trust 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 consolidation,
against loss or damage not exceeding the amount stated in Schedule A, together with coses, 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 defeC[ in or lien or encumbrance on the title to the estate or interest covered hereby in the
land described or referred to in Schedule C, 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; or
2. Unmarketability of such title; or
3. Any defect in the execution of any mortgage shown in Schedule B 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 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;
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all suhJcct, how~~"to-the prdvlSlOn~ of Schedules A, Band C and to the Conditions and Stipulations
hereto annexe~ ...'t\CE AND rRi;' \\11
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:t ~ o.~ q..(t "f.~lBJulln~ W'ltnessOPhereof, Title Insurance and Trust Company has caused its
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:; 4J g Jo.; .. cOp'or,'!t19rill:n~ ~I.d seal to be hereunto affixed by its duly authorized officers
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PRESIDENT
Attest
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SECRETARY
SCHEDULE
B
PART
ONE
1. Taxes or assessments which tllC nor shown as existing liem by the records of any taxing authority that levies taxes or
assessments on real property or by the public records.
2. Any facts, rights, interests, or claims which are not shown by the public records but which could be asccnained by an
inspection of said land or by making inquiry of persons in possession thereof.
3. Easements, claims of easement or encumbrances which are not shown by the public records.
4. Discrepancies. conflicts in boundary lines, shortage in area, encroachments, or any other facts which a correct survey
would disclose. and which ate not shown by the public records.
5. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights,
claims or title to water.
CONDITIONS
AND
STIPULATIONS
1. DEFINITION Of TERMS
The following terms when used 10 this
policy mean:
(a) "Iand": the land described, speliflc-
ally or by n:ft:n::mt:, in Schedule C and
Improvt:ments affixed thereto which by law
constitutt: real propeny;
(b) "pubhc rt~("Qrds": those records
which impart constructive notice of matters
relating to said land;
(c) "knowledge": actual knowledge, not
constructive knowledge or nmice which
may be Imputed to the Insured by reason
of any public records;
(d) "date"; the effective date;
(e) "mortgage": mortgage, deed of trust,
trust deed, or mher secunty instrument; and
(f) "insured": the party or panies named
as Insured, and if the owner of the in-
debtedness secured by a mortgage shown in
Schedule B is named as an Insured in
Schedule A. the Insured shall include (I)
each successor in interest in ownership of
such indebtedness, (2) any such owner who
acquires the estate or interest referred to
in this policy by foreclosure, trustee's sale.
or other legal manner in satisfaction of
said indebtedness, and (3) any federal
agency or instrumemality which is an 10'
surer or guaramor under an insurance con.
tract or guaranty insuring or guaranteeing
said indebtedness, or any part thereof.
whether named as an insured herein or not.
subject O[herwise to the provisions hereof.
2. BENEFITS AFTER ACQUISITION OF TITLE
If an insured owner of the Indebtedness
secured by a mort.';age described in Sched-
ule B acquires said estate or interest, or
any part thereof, by foreclosure, trustee's
sale. or mher legal manner in satisfaction
of said indebtedness, or any part thereof.
or if a federal agency or instrumentality
acquires said estate or inrerest, or any part
thereof, as a conSequence of an insurance
contract or guaranty insuring or guarantee.
ing the indebtedness secured by a mortgage
cMered by thIS policy, or any part thereof.
this policy shall contlOue in force in favor
of <;uch Insured, agency or instrumentality,
subject to all of the conditions and stipula-
lions hereof.
3. EXCLUSIONS FROM THE COVERAGE OF
THIS POLICY
This policy does nm insure against loss
or damage by reasons of the following:
(a) Any law, ordinance or governmental
(l'gulation (including but not limited to
buildmg and :zoning ordmances) restricting
or regulating or prohibiting the occupancy.
use or enjoyment of the land. or regulatin~
the character, dimensions, or location of
lIny improvement now or hereafter erected
on <;ald land. or prohibiling a separation in
ownership or a reduction in the dimensions
Ill' area of any lor or parcel of land.
(b) Governmental rights. of police power
or emment domain unless notice of the
l'xerci..e of such rights appears in the public
reweds at the date hereof.
(c) Title to any property beyond the
lines of the land expressly described in
Schedule C, or title to streets, roads. ave.
nues, lanes, ways or waterways on which
<;uch land abuts, or the rj~ht to maintain
then::1O vaults, tunnels, r.lmp!> or :lny other
structure or improvement; or any rights or
easements therein unless this policy specific.
ally provides thar such property. rights or
easements are insured. except that If the
land abuls upon one 01' more physic.llly
open streets or highway<; this policy Insures
the ordinary rights of abuttln,i:: owners for
access to one of such streets or highways,
unless olherwise excepted or excluded
herein.
(d) Defects, liens. encumbrances. ad verst:
claims against the title as lOsured or other
matters (1) created, suffered, assumed or
agreed to by the Insured claiming loss or
damage; or (2) known to the Insured
Claimant either at the date of this policy
or at the date such Insured Claimant ac.
quired an esrate or interest insured by thl.~
policy and not shown by the publiC tecord~.
unless disclo!'>ure thereof in writinR hy the
Insured shall have been made to the Com.
pany prior to the date of thiS policy: or (3)
resulting in no loss to the Insured Claim.
ant; or (4) attaching or created subsequent
to the date hereof.
(e) Loss or damage which would nor
have been sustained if the Insured were a
purchaser or encumbrancer for value with.
out knowledge.
4. DEfENSE AND PROSECUTION OF ACTIONS
-NOTICE OF CLAIM TO BE GIVEN BY
THE INSURED
(a) The Company, al its own cost and
without undue delay shaH provide (I) for
the defense of the Insured in all litigation
consisting of aCtions or proceedings com.
menced against the Insured. or defenses,
restraining orders, or injunctions interposed
against a foreclosure or sale of tht: mort.
gage and indebtedness covered by this policy
or a sale of the estate or interest in said
land; or (2) for such action as may be
appropriate to eSlablish the title of the
estate or interest or the lien of the mort.
gage as insured, which litigation or action
10 any of such events is founded upon an
alleged Jefect, lien or encumbrance in.
sured against by this policy, and may pur.
sue any litigation to final determination in
the court of last resort.
(b) In case any such action or proceed-
ing. shall be begun, or defense interposed,
or 10 case knowledge shall come to the In-
sured of any claim of tide or IOtereSI which
is adverse to the title of the estate or in.
terest or Her:' of the mortgage as insured,
or which mlgh( cause loss or damage for
which the Company shall or may be liable
by viaue of this polity, or if the Insured
shall in good faith contract to sell the 10-
debtedness secUf<_-d br a mungage covered
by (his policy, or, i an Insured in good
faith leases or contracts 10 sell, lease or
mortgage the same, or If the successful
bidder at a foreclosute !oale under a mort-
gage covered by lhis policy refuses to pur.
chase and in any such event the title to
said estate or interest is rejected as un.
marketable, the Insured shall notify lhe
Company thereof in writing If such notice
shall not be given to the Company within
ten days of the receipt of process or plead.
ings or if lhe Insured shJ.lJ not, 10 writing,
promptly notify the Comp.lny of any de-
fen. lien or encumbr.\Oce insured :1g,linst
which ,h.dl (omt' to (he kno\\'led~e of the
InsureJ. or d the ImureJ shall nor. in
writin~. promptly notify the Comp.my of
any such n.'It'CtlOn by reason of claimed un.
m:1rketability of litlt,. lhen all liability of
<Conditions and Stipulations Continued and Concluded on Last Page of This Policy)
"LT.. LO..... !'OLICY - 1170 WITH ,T"""T I......OII".."...T "SS"S''''''OY COIl".....,I: 0" C"LI~O"NI.. L"NO TITLE ..$sOCI..TION STANOAAD COII[A..O" .-oLICY _ 11.3
SCHEDULE A
PREMIUM : $40.00
AMOUNT : $2,000.00
EFFECTIVE DATE: SEPTEMBER 23, 1970 AT 11:15 A.M.
POLICY NUMBER: 67B1175
INSURED
THE CITY OF ARCADIA, A MUNICIPAL CORPORATION.
1. TITLE TO THE ESTATE OR INTEREST COVERED BY THIS POLICY AT THE
DATE:HEREOF IS VESTED: IN:
THE CITY OF ARCADIA, A MUNICIPAL CORPORATION.
2. THE ESTATE OR INTEREST IN THE LAND DESCRIBED OR REFERRED TO IN
SCHEDULE C COVERED BY THIS POLICY ,IS A FEE.
SCHEDULE B
THIS POLICY DOES NOT INSURE AGAINST LOSS DR DAMAGE BY.REASON OF
THE FOLLOWING:
PART ONE
ALL MATTERS SET FORTH IN PARAGRAPHS NUMBERED. 1 TO 5 INCLUSIVE ON
THE INSIDE COVER SHEET OF THIS POLICY UNDER THE HEADING SCHEDULE B
PART ONE.
PART TWO
.1. GENERAL AND SPECIAL COUNTY AND CITY TAXES
FOR THE FISCAL. YEAR 1970-1971, A: LIEN NOT YET PAYABLE.
2. AN EASEMENT AFFECTING ALL OF SAID LAND FOR THE PURPOSES'STATED
HEREIN, AND INCIDENTAL PURPOSES,
IN FAVOR OF : SECURITY TRUST AND SAVINGS BANK
FOR : POLE LINES
RECORDED : IN BOOK 3139 PAGE 3, OFFICIAL RECORDS
3. COVENANTS, CONDITIONS AND RESTRICTIONS IN THE. DECLARATION OF
RESTRICTIONS
RECORDEO : FEBRUARY 15, 1950 IN BOOK 2679 PAGE 48,
OFFICIAL RECORDS
SAID COVENANTS, CONDITIONS AND RESTRICTIONS HAVE BEEN INCORPORATED BY
6781175 PAGE 1 .
..LT" LO"N ~LI(:V _ 1~70 WITH 5TREU 1....ROVE..ENT "SUSSMENT COVER...." OR C"LI"ORN'.. L..ND TITLE ....SOC'..TION .V"NOARD COVER....E ~LICV _ 111.3
REFERENCE THERETO IN A DEED
EXECUTED BY : CALIFORNIA TRUST COMPANY
RECORDED : FEBRUARY 15, 1950 IN BOOK 10777 PAGE 60,
OFFICIAL RECORDS
RESTRICTIONS, IF ANY, BASED ON RACE, COLOR, RELIGION OR NATIONAL ORIGIN
ARE DEl ETED.
4. AN EASEMENT OVER THE REAR 4 FEET OF SAID. LOT FOR POLE
LINES AND CONDUITS AND INCIDENTAL PURPOSES, AS RESERVED
IN DEED ABOVE MENTIONED.
5. AN
PURPO SES
IN FAVOR
FOR
RECORDED
AFFECTS
EASEMENT AFFECTING THE PORTION OF SAID LAND AND FOR THE
STATED HEREIN, AND INCIDENTAL PURPOSES,
OF : SOUTHERN CALIFORNIA EDISON COMPANY
: POLE LINES
: IN BOOK .38970 PAGE 380~ OFFICIAL RECORDS
: THE REAR 4 FEET
6781175 PAGE 2
ALU LOA" _LICY - ,no WOYH "YRHT ""'ROVO'''''T ASSUSMENT COVERAllE OR CALIFORNIA LAND TITLE ASSOCIATION STANOA"O COYI[IIAOI[ _Llcy _ ''''3
SCHEDULE C
THE LAND REFERRED TO IN THIS POLICY.IS SITUATED IN THE COUNTY OF
LOS ANGELES, STATE OF CALIFORNIA, AND IS DESCRIBED AS FOLLOWS:
THE EASTERLY: 12.00 FEET OF THE NORTHERLY 50.00 FEET OF LOT
390 OF TRACT NO. 6561, IN THE CITY OF ARCADIA, IN THE. COUNTY.
OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED
IN BOOK 72 PAGES 34 AND 35 OF MAPS, IN THE OFFICE OF THE
COUNTY RECORDER OF SAID COUNTY.
TITLE ACQUIRED BY DEED FROM FLORENCE F. WHEELER, RECORDED
SEPTEMBER 23, 1970, AS INSTRUMENT NO. 2411, IN BOOK D-4840
PAGE 282, OFFICIAL RECORDS.
6781175 PAGE 3
( 5-69)
ALTA OR STANDARD COVERAGE
INDORSEMENT
ATTACHED TO POLICY NO, 6781.1.75
ISSUED BY
Title Insurance and Trust Company
The following exclusion from coverage under this policy is added to Paragraph 3 of the
Conditions and Stipulations:
"'Consumer credit protection, truth in lending or similar law."
The total liability of the Company under said policy and any indorsements therein shall not
exceed, in the aggregate, the face amount of said policy and costs which the Company is obligated
under the conditions and stipulations thereof to pay,
This indorsement is made a part of said policy and is subject to the schedules, conditions and
stipulations therein, except as modified by the provisions hereof.
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Title Insurance and Trust Company
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TRACT No. 656/
Mop 8001:: 72, Poges 34 & 35
LOTS .383 ro 459
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This is not a survey of the land but is compiled for information by the
Title Insurance and Trust Company from data shown by the official records.
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CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
the Company in regard (O the sublect mattt:r
of such action. proceeding or matter shall
cease ;lnd terminate; provIded. however,
that f<tl]ure to notify shall in no case
prejudice the claim of any Insured unless
Ihe Company shall be actually prejudiced
by sudl failure and then only to Ihe 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 any other
act which in its opiniOn may be neceSSMY
or desirable to establish the tide of the
t'State or interest or the lien of the mort.
gage as insured; and the Compan}' m.1Y
take any appropriate action under the rerms
of this policy whether or not it. shall he
liable thereunder and shall nm then:by
concede liability or waive ,my proviSIOn of
this policy.
(d) In all cases where this policy per-
mits Of requires the Company 10 prosecute
or provide for the defense of any action
or proceedmg, the Insured shall secure to
it the righl to so prosecute or provide de-
fense in such adion or proceed 109, and all
appeals therem, and permit it (0 use, at it~
option, the name of the Insured for such
purpus~. Whenever requested by the Com-
pany the Insured shall give the Company
all reasonable aid in any such action or
proceeding, in effening selllement, secllrinj::
evidence, obtaining wicnesst'S. or prosecu.
ting of defending such action or proceed.
ing, and the Company shall reimburse the
Insured for any expense so incurred.
S. NOnCE OF LOSS - LIMITATION OF
ACTION
In addition to the notices required under
paragr3ph 4(b), a statement in writing of
any lo~s or damage for which It is claimed
the Company is liable under this policy
shall be furnished to (he Company within
sixty days after such loss or damage shall
have been determined. and no right of
action shall accrue to the Insured under
this policy until thirty days after such
statement shall have been furnished, and
no recovery shall be had by rhe Insured
under rhis policy unless action shall be
commenced thereon within five years after
expirati.on of said thiny day period. Failurt:
to furnish such statement of loss or dama~e,
or to commence such action within the
time hereinbefore specified, shall be a con.
c1usive bar agalOst maintenance by the In.
sured of any acrion under this policy.
6. OPTION TO PAY, SETTLE OR COMPRO-
M'S~ CLAIMS
The Company shall have the option to
payor settle or compromise for or 10 the
name of the Insured any claim insured
against or to pay Ihe full amount of thi~
policy, or, in case loss is claimed under thh
policy by the owner of the indebtednes~
sec~lred by a mortgage covered by rhis
pohcy, the Company shall have the option
to purchase said indebtedness; such pur.
chase payment or tende:r of payment of
Ihe fu]1 amount of this policy. tos:e:ther
with all COStS, attorneys' fees and expenses
which the Company is obligated hereunder
tn pay, shall termina~ all liabi]ity of the
ComparlY hereunder. In the event, after
notite Ilf claim has been }';iven to the Com-
pany by lhe Insured, the Company offers
10 purchase said indebtedness. rhe owner of
~uch Indebtedness shall transfer and assign
,aid indebtedness and the mortgage secufln~
the ~ame to the Company upon payment of
the purchase pnce.
7. PAYMENT OF LOSS
(a) The liabihty of the Company under
this policy shall in no case e:xceed. 10 all:
the actual loss of the Insured and COStS and
.ltrorneys' fees which (he Company may be
obligated hereunder to pay.
(b) The Company will pay, in addition
to any loss insured against by Ihis policv,
.111 CO:>IS imposed upon the Insured in Ilt'l-
gat ion carried on by the Company for the
Insured, and all COSts and attorneys' fees in
luiga{ion carried on by Ihe Insured with
rhe written authorization of the Company.
(c) No claim for damages shall arise or
be maintainable under this policy (1) if
the Company, after having received notice
of an alleged defect, lien or encumbrance
not excepted or excluded herein removc~
.5Uch defect, lien or encumbrance WlthlO a
reasonable time after receipt of such notice.
or (2) for liability voluntarily assuml"d by
the Insured in settling any claim or suit
without written consent of the Company.
or (3) in the event the tide is rejected as
unmarketable because of a defei:t. lien or
encumbrance not excepted or excluded in
this policy, until there has been a final
determination by a court of competent juris.
diction sustaining such rejection.
(d) All payments under this policy, ex.
<ept payments made for costs, attorneys'
fees and expenses, shall reduce the amOllOl
of the insurance pro tanto and no payment
shall be made without producing thiS policy
for endorsement of such payment unless
the policy be lost or destroyed, 10 which
case proof of such loss or destruction !>hal I
be furnished to the satisfaction of the Com-
pany; provided, however, if the owner of
an indebtedness secured by a murt~a~e
shown in Schedule B IS an Insured herein
then such payments shall not reduce pm
tanto the amount of lhe imurance afforded
hereunder as to such Insured, t"xcept 10 the
extent that such payments reduce the amount
of the indebtedness secured by such mort-
gage. Payment In full by any person or
voluntary satisfaction or release by the In.
SUled of a mortgage covered by this policy
shall terminate all liability of the Company
to the insured owner of {he indebtedness
secured by such mortgage. except as pro-
vided in paragraph 2 hereof.
(e) When liability has been definitely
fixed in accordance with the conditiom of
this policy the loss or damage shall be pay-
able 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 any
policy insuring the validity or pnority of
any mongage shown or referred to in
Schedule B hereof or any mongage here.
after executed by the Imured which is a
charge or lien on the e'tate or intere~t
described or referred to in Schedule A, and
the amount so paid shall be deemed a pay-
ment to Ihe In~ured under (his policy. The
provisions of this paragraph numbered 8
shall not apply to an In~ured ownt"r of an
indeb{edne:.s secured by a mortgage shown
in Schedule B unless such Insured acquire~
lide to said estate or intere~1 in satisfJction
of said Indebtedness or Jny part thereof.
9. SUBROGATION UPON PAYMENT OR
SEnLEMENT
Whenever the Company shall have settled
a claim under this policy, all right of sub.
rogalion shall vest in the Company un.
afft"Cted by any act of the Insured, and it
shall be subrogated to and be entitled to
all rights and remedies which Ihe Insured
would have had again~t any pers-on Qr prop.
erty in respect 10 such claim had this policy
not been issued. If the payment does not
cover the loss of the Insured, the Company
shall be subrogated to such rights and
remedies in the proportIOn which said pay-
ment bears to the amoum of ~aid loss. If
lo~:. should resuh from an)' act of the In-
sured. such act :.hall not void thi, policy.
hut the Comp,lOY, 10 tholt evt'nt. shall be
requited w pay only thar part IIf any losses
IOsureo .lg:limt \u:reunoer which shaH ex-
ceed the ,Imount. if .to}., lost to the Com-
pan)' by reason of the impairmeOl of the
right of subrogation. The Insured, if reo
qUt'st'ed by the Company, shall transfer to
the Company all rights and remedic::.
agalmt any person or properly nf'\essary In
ordcr to perfecl such rij::ht of subrogation,
and shall permit the Cumpolny to use the
name of the Insured in any transaCtion or
litigation involvin~ ~uch ri~hts or remedies.
If the Insured IS the owner of the in-
debtednes:. ~ecured by .1 mortgage covered
by this policy. such Imured may release or
substltute rhe personal liability of any
debtor or s:uarantnr, or eXlend or otherwisl'
modify the terms of pa)'menc. or release
a portion of the estate or interest from the
lien of the mortgage, or release any col-
lateral security for the indt:btedne<;~. pro-
vided such act does not result in .lOy los~
of prinrity of the lien of the mOrlgage.
10. POLICY ENTIRE CONTRACT
Any aCtiun or actions or rights of action
that the Imured may have or may brlOj::
against the Company arisinj:: out of the
~tatus of the lien of the mongage cuvercd
by this policy or the title of the eSlate or
interest insured herem must be based on
the pnlVision~ of this policy.
No provision or cundition of this policy
can be waived or chan~ed exct'pt by writing
t:ndorsed hereon or attached hereto sigm:d
by the President, a Vice: President, the
Secretary, an ASSISrant Secret,uy or other
validating officer of the Comp"ny.
11. NOTICES, WHERE SENT
All notices required to be given thl' Com-
pany and any statement in writin~ rt'quirl'd
to be furnished the Company sh'al] be ad.
dressed to it at the office which i~sut'd this
policy or to its Homt' Office. 433 South
Spring Street, Los Angeles H. California.
12. THE PREMIUM SPECtFIED IN SCHEDULE
A IS THE ENTIRE CHARGE FOR TITLE SEARCH,
TITLE EXAMINATION AND TITLE INSURANCE,
POLICY
OF
TITLE
INSURANCE
/-
Providing direct title services or referral
services throughout the United States and
the territory 01 Guam.
Title Insurance
and
Trust Company