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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