HomeMy WebLinkAboutD-1784
,
CERTIFICATE OF ACCEPTANCE
BKD5165pc371
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 August 6, 1971 , from or executed
by Lillian Shull , 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
authorizofficers.
, .
I
City Mana
The document thus described is hereby approved
',.:",;.
~,//~
City Engineer
~
N
~
.....
as to form.
~
City At ey
-
,"
- . 1 _ _:"'; -,
~':~-:,CITY OF ARCADIA
, '.', 1
'. ~ 1 , \..
l~tn
"'_1--
,-,.,__:...,
D- /7 gff
~ .;.' -
AND WHEN RI!;CORDI!;O MAIL TO
RECORDED IN OFFICIAL RECORDS
OF LOS ANGELES COUNTY. CALIF.
OR SECURITY TITLE INSURANCE CO.
AUG 20 1971 AT 8:01 A.M.
Registrar.Recorder
----..
r-
Ho.. Ci ty Clerk
A~~:: P.o. Box 60
I
;;..,'[
City . Arcadia, Calif.
Slat. L
~
..
r-
Ho.. City of Arcadia
I
SPACE ABOVE THIS LINE FOR RECORDER'S USE
COCUM"NTARY TRANSfER lAX $,....~-
IZl ClOM;UTlD ON FULL VALUE OF PROPERTY CONVEYED, OR
c:I ClClM~UTlD ON FULL VALUE LESS LIENS & ENCUMBIWl.
~~~~:~~
III " of c1eolallnt or qent tax-
C MIlMl"ttcI Am II' CIty of..
MAIL TAX STAUMENTS TO
S'reet
Addreu
City &
SlaleL
.J
Grant Deed
" I FREE d-.E "
D,I.T. $....,...........,......,........,..,....
TO 405 CA (9,69)
THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
LILLIAN SHULL
hereby GRANT(S) 10 the CITY OF ARCADIA, a Municipal Corporation,
Ihe following described real property in the
County of Los Angeles
City of Arcadia
, State of California:
The easterly 10 feet of Lot 16 in Block:.82',of, a pOl'tion' of-Arcadia-Santa-Anita-Tract';'
in the City of Arcadi.a, as per map recorded in Book 15\, Pages 89 and 90 of Miscellaneou
Records, in the office of the County Re~order.
Free recording requested under
Gov. Code 6103. Document
necessary due to City acquiring
ti Ue,
"
Dated
~J/~ t
I
/'77/
~ ::e ~~Ul1 jJ f>>(i2
'''-
STATE OF CALIFORNIA
COUNTY OF LOS ANGELES
1'7 !
}SS
~
~J~A)
~,o.~
A ~....?
"l;r ,~"""
'J",>, .,'
." l.? ....
~ '~lI"~
" (.,.....~i>
,~ ~:~:w'"
, '?
OFFICIAL SEAL
FLORENCE E, NEERGARD
NOTARY PUBLIC, CALIFORNIA
LOS ANGELES COUNTY
MyCommlssion Expires Mar. 4,1972
~I~
>- >-
<D <D
Z Cl
w w
..... '"
.... u
'" ~
;s: u.
\
.
before me. the under.
Public in and for said Stale, personally appeared
lian Shull
to be the person_whose name i g
instrument and acknowledged that. she
WITNESS my hand and official seal.
Signature ~~.R-.A ~ e. P ,
. known to me
subscribed to the within
executed the same.
p, 0, Box 60, Arcadia, Calif.
z
o
;::
a..
0:
U
(f)
w
/ Cl
~.
~
~
.....
X
Name (Typed or Printed)
(This alea fot' "ml'llllllnlRflal'Sl'al)
-----
, .
Tille Order No.
Escrow or Loan No.
MAil TAX STATEMENTS AS DIRECTED ABOVE
*JlltJ3'7<!}f
r '
GRANT DEED
GRANT DEED
,
Title Insurance
and
Trust Company
Title Insurance
and
Trust Company
.
,
~ i
COMPLETE STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL
COMPLETE: STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL
,,'
i
J
.' .."....
,1\ ...'--
"".. ."
_~. .. ,to
. ~:!-.
1 .
~,
. ,
MARK H, BLOODGOOD
AUDITOR.CONTROLLER
COUNTY OF LOS ANGELES
DEPARTMENT OF AUDITOR,CONTROLLER
153 HALL OF ADMINISTRATION
LOS ANGELES, CALIFORNIA 90012
62!5.3611
September 8, 1972
City of AJ'cadia
240 West Huntington Drive
Arcadia, California 91006
Attention: Robert D. Ogle, City Attorney
'\
,
Re: Firs1; Avenue widening
ParcEll No. 8
Gentlemen:
Pursuant t.o ye-ur lett",r dated September 20, 1971,
taxes haVE, been cancelled in accordance with SAction
~,
4986 of' the Revenue and Taxation Ce-de. This cancel-
lation was ordered by the Hone-rable Board ~f' Super-
visors NClv. 24, 1971, by Authorization No.. 25347.
Very truly yours,
MARK H. BLOODGOOD, Auditor-Controller
,,::: .,(,~ .-;-.' .....~(Y'./'~....,,):.,.,' ..:...., ':; ....,\.(
By Edward Guerrero, Chi"'f, Tax ]"\i vision
EG/MG/tc
Tax Div. #C-11 8/72
/17-// Or
RoaERT A. GILL
CHIEF DEPUTY
E. GUERRERO
CHIEF, TAX DIVISION
f?~0.
S,<',.o , ~'V<2:
C:/7' ./:}. 0
C:~o'" ,(9,/,)
"l0-,"I"c: ""
0" "'0
"v"'r'"'
",' "
September 20, 1971
~.J.'. Ler':': ~~. ;lloodgcoci, Auditor-Controllol'
:';00 ~:c::;'i; 'I'e;o9lo St~'::~'i;, Room 153
~:JJ l~nGelef) 0 Ccl1:2orn:la 90012
,h',;c)Jl'cloll: '1,'t'X CC!llce11c.tion Section
\)~ur Ilj....
Bl0()dgood~
Jubjcc\;:
i.lCqU~Li'i; :1:'0:(' UUi1cellaJ;ion of ~a;;~s
1?::~J'wt ..~\"Ut~\i.t3 :?cZ'c~l i:o. C
PlCO,ct;) c!unc~l J.S vi t~lO CAut:.; of l'.;::corQi.'lg c:~l '~CJ~ao Oil
"he p:':'''op~:o. \;~, L~~~ci.'i"c()~ in tilO enclosed CO!?:.! VL r:~Ol~ 0 lJ.:'11Q
J)1:0)Jo:~:,t;..r ~.~ :';'C.l..i.;, oJ:' \i IJ.}_"Ger PQ~"ccl :,cl...!:,l:,'>(;ll fo'!'-- Li';;xc~t
wideninG pU/."fo::;u::,. ':i:;~3:tO 1s no Oi.l,:UCi:;.;IG un it.
'J'Ol'iJ \;:;;,uly yourlJ,
nOUtl'l' j). OJ~
Ci'i;;y Attorney
RDO:n".:,
Enclosuro
cc: City Cle:rk V
';;/ L~C( :ct.-,J Jd fuJ...0
,.v -" -/
I~CM
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 v,aluable
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 consol-
idation, against loss or damage not excee9ing the amount ,stated in Schedule A, together with costs,
attorneys' fees and expenses which the Co~pany may beeom~ obligated to pay as provided in the
Conditions und Stipulati?Ils hereof, which the Insured shall sustai,n by reason of:
1. Any defect in or lien or encumbrance on the title to the estate or interest covered hereby in the
land described or referred to'in Schedule A. existing 'at the date hereof, not shown or referred to
ill Schedule B or excluded frolll ('overage in Schedule R ,or in the Conditions an'd'Stipulations;
or
2, Unmarkelability of such title: or
3, Any defel:t in the execution of any mort~ap:e shown in Schedule B securing an indebtedness. ~he
owner of which is named as an lnsured in Schedule A. hut only insofar as such defect affect!> the
'lien or charge of said mortp:a~e upon the estdte or interest I eferred to in this policy; ?r
4, Priority O\'er said mortgage,' at the dale hereof, of any lien or enc:umhranee f!ot shown or referred
to in Schedule R, or excluded from eoverage in the Conditions and Stipulations. said mortgage
being shown in Sehedule B in the order. of its priority;
nil subject, ho\\'e\'er, to the provisions 'of Schedules A and B and to the Conditions and Stipulations
hereto annexed,
In Witness IPhereof, Security Title Insurance Company has caused its corporate name and seal to be
hereunto affixed by its duly authorized oRlcers on the date shown in Schedule A.
~J~C- ~.
Secretary
....................,"''-''\\\\\
-=--'\~SUR4A}\I\
:\. "........'vC III
:~... ...1'"11
....~.. ..~III.
tci\~~\\\\PORATED\~~ :r I! 7.~
~_. . I":
~c:.:. --- .-gz
~:;l\ AlARCH 5 \~C;,'tJ~ J ..' ,
~'"-?~-- ., .""',
1/'10"""1'\" .. ":::
'I~ . . .. -
, .... ...::=
, 11\1\ {}imo?~~-=-': President
, \\\\'\,,""'~
to /./ _0 ~
. V('. ~U/./ z;9.J1'.
, ./
An Authorized Signature
P.218 (G,S.) ~s.,.~o Inlur.n~. Coml>fftV of Am.."". A'OIIl".d Tr.do....r~ 0_"
CONDITIONS AND STIPULATIONS
1. Definition of Terms
The following terms when used in this
policy mean:
(a) "land": the land described, spe.
cifically or by reference, in Schedule A
and improvements affixed thereto which by
law constitute real property;
(b) "public records": those records
which impart constructive notice of mat.
ters relating to said land;
(e) "knowledge": actual knowledge,
not constructive knowJed~e or notice 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 other security instru-
men Is; and
(f) "insured": the party or parties
named as Insured, and if the owner of
the indebtedness secured by a mortgage
shown in Schedule B is named as nn
Insured in Schedule A, the Insured shall
include (1) each successor in interest in
ownership of such indebtedness, (2) any
such owner who acquires the estate or
interest reCerred to in this policy by fOte-
closure, trustee's sale, or other legal man.
ner in satisfaction of said indehtedne~~,
and (3) any Cederal agency or instrumen-
tality which is an insurer or guarantor
under an insurance contract or guaranty
insuring or guaranteeing said indebtedness,
or any part thereof, whether named as
an Insured herein or not, subject other-
wise to the provisions hereof.
2. Benefits after Acquisition of Tille
If an insured owner of the indebtedness
secured by a mortgage described in Sched.
ule B acquires said estate or interest, or
any part thereof, by foreclosure, trustee's
sale or other legal manner in satisfaction
of said indebtedness, or any part thereof,
or if a federal agency or instrumentality
acquires said estate or interest. or any
part thereof, as a consequence of an in-
surance contract or guaranty insuring or
guaranteeing the indebtedness secured by
a mortgage covered by this policy, or any
part thereof, this policy shall continue in
force in favor of such Insured, agency or
instrumentality, subject to all of the con-
ditions and stipulations hereof.
3. Exclusions from the Coverage of
this Policy
This policy does not insure against loss
or damage by reason of the following:
(a) Any law, ordinance or govern.
mental regulation (including but not lim-
ited to building and zoning ordinances)
restricting or regulating 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 the dimensions or Ilrea of any lot or
parcel of land.
(b) Governmental rights of police
power or eminent domain unless notice
of the exercise of such rights appears in
the public records at the date hereof.
(c) Title to any property beyond the
lines of the land expressly described in
Schedule A, or title to streets, roads,
avenues, lanes, ways or waterways on
which such land abuts, or the right to
maintain therein vaults, tunnels, ramps or
any other structure or improvement; or
any 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
more physically open streets or highways
this policy insures the ordinary rights of
ahutting owners for access to one of such
streets or highways, unless otherwise ex.
cepted or excluded herein.
(d) Defects, liens, encumbrances, ad.
verse claims against the title as insured or
other mallers (1) created, suffered, as.
. sumed or agreed to by the Insured claim.
ing loss or damage; or (2) known to the
Insured Claimant either at the date of this
policy or at the date such Insured Claim-
ant acquired an estate or interest insured
by this policy and not shown by the public
records, unless disclosure thereof in writ.
ing by the Insured shall have been made
to the Company prior to the date of this
policy; or f 3) resultin~ in no loss to the
Insured Claimant: or (4) attaching or
created subsequent to the date hereof.
(e) Loss or damal!e which would not
have heen sustained if the Insured were
a purchaser or en('umbrancer for value
without knowledge.
(f) Any "consumer credit protection",
"truth in lending" or similar law.
4. Defense and Prosecution of Ac-
tions - Notice of Claim to be Given
by the Insured
(a) The Company, at its own cost and
without undue delay shall provide (1) for
the defense of the Insured in all litigation
consistinJ!,: of actions or proceedings com.
cenced against the Insured, or defenses,
restraining orders, or injunctIOns inter-
posed against a foreclosure or sale of the
mort!!:nge 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 establish the title
of the estate or interest or the lien of the
mortgaj:!:e as insured. which litigation or
action in any of such events is founded
upon an alleged defect, lien or encum.
brance insured against by this policy, and
may pursue any litigation to final determ-
ination in the court of last resort.
(b) In case any such action or pro-
ceeding shall be begun, or defense inter-
posed, or in case knowledge shall come to
the Insured of any claims of title or in.
terest which is adverse to the title of the
estate or interest or lien of the mortgage
as insured, or which mi~ht cause loss or
damage for which the Company shall or
may be liable by virtue of this policy, or
if the Insured shall in good faith contract
to seIl the indebtedness secured by a mort-
J!;age co\'ered by this policy, or, if an
Insured in good faith leases or contracts
to sell, lease or mortgage the same, or if
the successful bidder at a foreclosure
sale under a mortgage covered by this
policy refuses to purchase and in any
such event the title to said estate or in.
terest is rejected as unmarketable, the
Insured shall notify the Company thereof
in writin~. If such' notice shall not be
given to the Company within ten days of
the receipt of process or pleadings or if
the Insured shall not, in writin~, prompt:y
notify the Company of any defect, lien
or encumbrance insured against which
shall come to the knowledge of the In,
sured, or if the Insured shall not. in
writing, promptly notify the Company of
ally such rejection by reason of claimed
unmarketahilit}, of title, then a1l liability
of the Company in regard to the subject
matter of such action, proceedin~ or
matter shall ('ease and terminate; pro,
vided, however, that failure to notify
shall in no case prejudice the claim of
any Insured unless the Company shall
he actually prejudiced by such failure
and then only to the extent of such
prejudice.
(c) The Company shall ha\'e the right
at its own cost to institute and prosecute
any action or proceeding or do any other
act which in its opinion ma)' be necessary
or desirahle to establish the title of the
estate or interest or the lien of the morl.
g:8J!,:e as insured; and the Company may
take any appropriate action under the
terms of this policy whether or not it
shall he liable thereunder and shall not
thereby concede liahility or waive any
provision of this policy,
(d) In all cases where this polky
permits or requires the Company to prcs-
eeute or provide for the defense oC any
action or proceeding:, the Insured shall
Secure to it the right to so prosecute or
provide defense in such action or pro-
ceedin!!:, and all appeals therein, and per.
mit it to use, at its option, the name of
the Insured for such purpose, Whenever
(Conditions and Stipulations Continued and Concluded on Last Page of This Policy)
Stahdard Coverage Policy Form
Copyright 1963
,
SCHEDULE A
Effective Amount of liability: S 2,000.00
Date: August 20, 1971 at 8:01 A.M.
Policy No:
Premium S
7003798
CONTRACT
INSURED
THE CITY OF ARCADIA,
a municipal corporation
1. The estate or interest ill the land- described or referred Lo III this :5l.:hedule covered hy thi~ policy is:
A Fee
2. Title to the e~taLe or inLerest covered by this policy at the daLe hereof is vested in:
THE CITY OF ARCADIA,
a municipal corporation
:~, The land referred to in this policy is situaled in the Slale of California, Couilly of Los Angeles
and is described as follows:
'The Easterly 10 feet of Lot ,16 in Block 82 of a Portion 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.
.
C;py-r~ghl -1963
SCHEDULE B
Thi!'. policy does not in:-ure again:-t 10:-"; or dal1la~e hy n:a;-;,oll or the rtlll()will~:
PAIlT I
1. Taxc:-; or a~ses:-;ment5 which arc not :-;ho\\'1l u:' e~i:,lil1l! liell~ hy thc n:cord~ of any la\.illl! authority thai le\'ie~
la~e~ or assessments on real properly or by Ihe puhlic l'c('onk
2. An)' (a(;(:,. righl:'. illlerc~ls. or daim~ whidl are flot sho\\ II hy Ihe puhlic rceul'lb bul \\ hich cuuld IlC a5c'ert<lined
by un ill:'pedioIl of said land ur hy making inquiry of I'cr~()ll~ in I'o~~e~~ioll Ihereuf.
;:. Easemellt:,. claims of C4scmcnl or cllcumhrancc:, ",hid) arc 1101 shuwn by Ihe public record:-,
.1. f)bcrcpancies. t'onflj(;(:.; ill houl~dar)' line.... :-horlal!e i,l are~l, CIll'I(lachmclll:-. or al1~. ()tller fad~ \\llic!J a ('orrcet
:'uf\'c)' would di~(:lo:,;e: \Iud which are nol :-110\\'11 hy Ihe public rCf'tll'(k
5, Unpatcnted mining claim...: re:-cr\'alioll~ ur e:\.ccl'tiull:O in pall'llt:- or ill Ad~ ~llllllOrjzill)!; the 1:-~lWlln~ thereof:
waler righls. claims or title 10 waler.
PAIlT"
1. General and special taxes for the fiscal year 1971-1972,
a lien not yet payable.
.
-,.
,.
j
/Cc
~
~
~
t
,.---'-'
~-
I
I
I
L
~
8t.VO.
"~1. G ' ,N so' so' ..-"" so Sd .;0' S'" s'" S?> .so ' -d"/ _.9'
.J4 ~, ~ ,2tJ ~
~ /3/,6 ' ~ ~ /..'f"'/ 6Q'
.JJ ' ..; , , , , . , ~~ .11 ~
'l ".., , , , 2/'"
1.5/,& "'oil ,.JIJ 29 21 27 26 2.5 24 2s 22 ff/,G..9
::: .., U ~,
~ \' ; "
.}2 ~ Bt. ~ ~2 ~ ~
~ .<3/, &.~.
/5/,6 "
ll,'
:\
~
~
"'
~
..~/. oe:;;.
" ,g
J
~ .....s-/ &:.
~ .2
"'.s-"'.c;.
~ /
".s-/, c;.
0
"
-1/7.S'
"
'....
'.."..-
'"
-e-,'-;-
'<-:~t",
.,OUl/?A DO
"
.,
..,.--1
~'
~
't
'e
,.'
3 s-..
~
"
,
~ .
~..,
~
,-",
0>0
S-.
s.
"
r. '." c;"., ~
"
. "7 "0
e! ~
"'.s-..... ,;,
II ....
. ""--::1
,I.fr ~' ~ /~ ~ t)
~ /S'/.c;, ~
~ ,,~ ,
"
SO>> /Jo-", C;Ji'
'I
~ .
.J
,1
,
S-o
s.
r_
c.
,.-"
ro
S"
//
"2' "f'
J
..J
~:J
i
.,1'1
/;,
,;1
.,
,
(; 7
B
7 "'"
,'",
...., .....
ore:> S-o
$'_
'-Q
~D ~c:>
,~-9
oSr.
.,
..
"
~.:1
PC-€T6'-
.. r
"
,I
f
J
.,
,
, "
."
,
, J J.
"h
~, I
i
( I
,
i
..
't'"
:r:l
"
.-9Rc~O "-9
J.!
"i
.,
S-9A./ T-9
-9AJ" 7'"-9 7-€'-9cT
"
Lor.J /".34
.
.<3~oC< sO?"
..,.e, ....oo~~~..
- -
THIS I~ NOT A SU_V(Y OF lion: LAND BUT IS COMPilED fOR INFORMATION ONLY FROM DATA SHOWN BV O'''C1AL RECORDS
-_.:...:
.
CONDITIOr-iS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face)
requested by the Company the Insured
shall give the Company all rea~onab~e
aid in any such action or proceed~ng, In
effecting settlement, securing eVidence,
obtaining witnesses, or prosecuting or de.
fendinp; such action or proceeding, and
the Company shall reimburse the Insured
for any expense so incurred.
5, Notice of Loss _ Limitation of
Action
In addition to the notices required under
parap;raph 4(b), a statement in writing
of any loss or damage for which it !s
claimed the Company is liable under this
policy shaH be furnished to the Company
within sixty days after such loss or dam-
age 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 he had by 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 commence i'iUch a~tion
within the time hereinbefore specified,
shall he a ('ondusi\'e har against main-
tenance by the Insured of ~ any action
under this policy.
6. Option 10 Pay, Settle ut' Compro-
mise Claims
The Company shall have the option to
payor settle or compromise for or in the
name of the Insured any c1sim insured
against or to pay the full amount of this
policy, or, in case Joss is claimed under
this policy hy the owner of the indebted-
ness secured by a mortgage covered by
this policy, the Company shull have the
option to purchase said indebtedness; such
purchase, payment or tender of payment
of the full amollnt of this policy, top;ether
with 611 costs, attorneys' fees and ex-
penses which the Company is obligated
hereunder to pay, shall tel'l1linate all
liability of the Company hereunder. In
the event. after notice of claim has been
I!:iven to the Company by the Insured, the
Company offers to purchase said indebt-
edness, the owner of such indebtedness
shall transfer and assign said indebtedness
and the mortp:age securing the same to the
Company UpOIl payment of the purchase
price,
7. Payment of Loss
(0) The Liability of the: Company
under this policy shall in no C.ase exceed,
in all, the actllal loss of the Insured and
costs and attorneys' fees whieh the Com.
pany may be obligated hereunder to pay.
(1)) The Company will pay, in addition
to nny loss insured against by this policy,
all costs imposed upon the Insured in
litigation carried on by the Company for
the Insured, and all costs and attorneys'
fees in litigation carried on by the Insured
P-218 (O,S.)
with the written authorization of the
Company.
(c) No claim for damages shall arise
or he maintainable under this policy (I)
if the Company, after having received
notice of on 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 novce, or (2) for liability
voluntarily assumed by the Insured in
settling any claim or suit withom written
consent of the Company, or (3) in the
event the title is rejected as unmarketable
because of a defect, lien or encumbrance
not excepted or excluded in this policy,
until there has been a final detennination
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, shaH reduce the amount
of the insurance pro tanto and no payment
shall be made without producin~ this
policy for endorsement of such payment
unless the policy be lost or destroyed. in
which case proof of such loss or destruc.
tion shall be furnished to the satisfaction
oC 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 such
Insured, except to the extent that such
payments reduce the amount of the in-
debtedness secured by such mortgage.
Pa}'ment in full by any person or voluntary
satisfaction or release by the Insured of
o mortp;age covered by this policy shall
terminate all liability of the Company to
the insured owner oC the indebtedness
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 he
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 any
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 policy.
The provisions of this paragraph num.
hered 8 shall not apply to an Insured
owner of an indebtedness secured hy a
mortp:ap:e shown in Schedule B unless
such Insured acquires title to said estate
or interest in satisfaction of said indebt.
edness or any part thereof.
9. Subrogation upon Payment or
Settlement
Whenever the Company shall have
settled a claim under this policy, all right
of subrogation shall vest in the Company
unaffected by any act of the Insured. and
it shall be subrogated to and he entitled
to all rights and remedies which the
Insured would have had against any person
or property in respect to such claim had
this policy not been issued. If the pay.
ment does not cover the loss of the In-
sured, the Company shall be subroJ!:ated to
such rights and remedies in the proportion
which said payment bears to the amount
of said loss. If loss should result from
any act of the Insured, such act shall
not void this policy, but the Company, in
that event, shall be required to pay onl)'
that part of any losses insured against
hereunder which shall exceed the amount,
if any. lost to the Company by reason of
the impainnent of the ri~ht of subrogation.
The Insured, if requested by the Company,
shall transfer to the Company all rights
and remedies against any person or prop.
erty necessary in order to perfect such
rip;ht of subrogation. and shall permit
the Company to use the name of the
Insured in any transaction or litip;ation
involving such rights or remedies.
If the Insured is the owner of the in.
dehtedness secuud hy a mortgage covered
by this policy, such Insured may release
or substitute the personal liability of an}'
dehtor or ~uarantor, or extend or other.
wise modify the tenns of payment. or
release a portion of the estate or interest
from the lien of the mortgage, or release
any collateral security for the indebted-
ness. provided such aet does not re3uh
in any loss of priority of the lien of the
mortJ!;ap:e,
10. Policy Entire Contract
Any action or actions or rights of action
that the Insured may have or may brin~
ap:ainst the Company arising out of the
status of the lien of the mortgage covered
hy this policy or the title of the estate or
interest insured herein must be hased on
the provisions of this policy.
No provision or condition of this policy
can he waived or changed except by
writin~ endorsed hereon or attached here-
to signed by the President, a Vice Pres.
ident, the Secretary, an Assistant Secre.
tary or other validating officer of the Com.
pany.
11. Notices, Where Sent
All notices required to be given the
Company and any statement in wTltlng
required to be furnished the Company
shall be addressed to it at the office which
issued this policy or to its Home Office,
13640 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
-
~
SeCURITY
TITLe
-
SECURITY TITLE
INSURANCE COMPANY
HOME OFFICE
13640 ROSCOE BOULEVARD
P"NORAMA CITY, CALIFORNIA 91409
3444 WILSHIRE BOULEVARD
LOS ANGELES, CALIFORNIA 90054
SECURITY TITLE
INSURANCE COMPANY