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HomeMy WebLinkAboutD-1785 j '-- . -'- . '. " L r" , CERTIFICATE OF ACCEPTANCE BKDSI84pc799 . 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 4. 1971 , from or executed by Charles O. Prather , 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 the City of Arcadia consents to the recordation thereof by its duly fficers. ~ -' / ~~ng~e~ Q) ~ ~ The is hereby approved as to form. ~o ~ ,,'~: - ," '~r-oo-"'- 00_____',_ CITY OF ARCADIA BKOjlC54PG(~tJ AND WHItN It1!:CORDItO "'AIL TO RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY, CALIF. FOR SECURITY TITLE INSURANCE CO. SEP 8 1971 AT 8:01 A.M. Registrar'Recorder ...... I' City Clerk P. O. Box 60 'I Hom. Sfr..' Addr... City & $10'. L Arcadia, California -1 I' 'I SPACE ABOVE THIS LINE FOR RECORDER'S USE [:O:;UMEi'HARY TRANSFER TAX $""l/i!~..'..'........n',.. o COMPUTED ON FULL VALUE OF PROPERTY convoY:;"~, ('; o COMPUTED ON FUll VALUE LESS LIENS & ~r.;(;:t;r\~..~Ht,,; CES REMAINING THEREON AT TIME OF SALE. ~s;f~~~;;;i~';~'i~~%E~ . o Unlcorporated Area ~~ 'Of....A,&,~ ,...... MAll tAX StATEMENTS TO Nom. City of Arcadia Sir..' Addre" Clly & SloleL ..J Grant Deed D,T,T, $,n...JEREEd", E;J TO 405 CA (9,68) THIS FORM FURNISHED BY TITLE INSURANCE AND TRU6T COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, CHARLES O. PRATHER,a-tnarri!,d man, as his sole and separate property hereby CRANT(S) 10 the CITY OF ARCADIA, a Municipal Corporation Ihe following described real properly in Ihe County of Los Angeles City of Arcadia , State of California: The Westerly 10 feet of Lots 34 and 35, Block 81 of part of Arcadia Santa Anita Tract, in the City of Arcadia, Book 15, 'Pages'89 and 90 of Miscellaneous Records, \ in the office.of the County Recorder. EXCEPT from said Lot 34 the South 45 feet thereof. Free racording raquested under Gov. Code 6103. Document necessary due to City acquiring title. Dated /:.J' '/;. 117/ ~tt/~~ Charles ., rat er ! " cxeculed the same, , fP.~"'~"" fi~ ..~ 'i (I).... ,. ~ "I s;.;u;OIl"'1' OFFICIAL SEAL FLORENCE E. NEERGARO NOTARY PUBLIC, CALIFORNIA LOS ANGELES COUNTY MyCommissionExpiresMar.4,1972 ~ >- >- CO to Z Cl W w t:: '" u a: w '" :r u z 0 ;:: a a. 0: ~ u VI ~ w Q ". }ss, before me, the under- ry I'll dic in and for said State, personally appear{'r! arles O. Prather Signature to he the person_whose name is instrument and acknowledged that he WITNESS my hand and official seal. ~'~, . known to me subscrihed to the withill -9f~.P " , P. Q, Box 60, Arcadia, Calif, . Name (Typed or Printed) (Thl~ Blea for "nl"ln! notarIal ~t'al) (, " . Tille Order No, Escrow or Loan No. o MAIL TAX STATEMENTS AS DIRECTED ABOVE 7 H3?%~;< )..::. J' ,': :-i c' ~; '. GRANT,~DEED ,; Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL f) : ~ , , .i I {',. ' :; .., " " 'I: . >: ... ~, -J :) " , ' " ',) . . .'. " ,. I' ,-, :, I, " ~ . ) ,~GRANT DEED () " Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CA.LL .~ . ~ -:!' , 4~ . . .' " " , ' _____L-____ ... .:. .....; . '. ./fI'; ..". " ' _.....olio!!!!!! MARK H. BLOODGOOD AUDITOR. CONTROLLER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 62S.3611 September 8, 1972 City of Arcadia 240 West Huntington Drive Arcadia, California 91006 Attention: Robert D. Ogle, City Attorney Re: Firflt Avenue Paroel No. 16 Gentlemen: Pursuant to your lett~r dated October 11, 1971, taxes have been cancelled in accordance with SAction 4986 of the Rever.ue and Taxatior. Code. This cancel- lation was ordered by the Honorable Board ~f Super- visors Nov. 29, 1971, by Authorization No. 25011. V"'ry truly yours, MARK H. ELOODG00D, Auditcr-C,ontroller .ro" ~ '., ,::,;~..,'.' ~. --- ~''''',/:'I''/I':''' ~ ""\-f. By Edward Guerrero, Chi.ef, Tax Division EG;MG/tc Tax Div. ffc-11 8/72 A../-" v-v v ROBERT A. GILL CHIEF OEPUTY E. GUERRERO CHIEF, TAX DIVISION Rf2Cf2/\lf2D "cp - '-<. 1 21972 CITy Of' Cl7y il.n-";;CADIA RNE;y Octob0l" 11, 1971 ~~. Nark H. BloodBood~ Auditor-Controllor 500 Hest 'l'e~le Street, ROOIJ 153 Loa ~o~cs. Ccliforni~ 90012 Attontion: Tux Cancellation Soction Deal" ,.lr. B1oodaood: Subject: Roqueot for Cunce1lation of 'i'e.xoa Firot Avenue Parcel No. 16 Plamse c.mcol ao of the date of rccol:'dina ell taxeD on prOp3l"ty dasc-ribod in the enclosed copy of deed. Thio pi'OpCl"ty i6 pl:!.zot of e. laraor parcel acquirGd rOi.'" street mdeninG pW'pc)oeo. Tb.cn:e io no buildine; on it. Very truly yours. RODEUT D. OGLE: City Attorney ::IDO:at Dncloeure cc: City Clerk Charles o. Prather ~ ----.......VUI1:I'JUIU LoU"U ...."" ".."v........,vu .' Standard Covorago Policy Form COPYright 1963 SCHEDULE A Effective Date: Amount of liability: S 2,000.00 September 8, 1971 at 8:01 A.M. Policy No: 7003785 Premium S 40.00 INSURED CITY OF ARCADIA, a municipal corporation 1. The eslale or inleresl In the land desGribed or referred to ill this schedule co\'cred by this policy is: A Fee 2. Tille to the estate or interest covered by this policy at the clate hereof is vesled in: CITY OF ARCADIA, a municipal corporation :1. The land referred 10 in this policy is situated in the State of California. County of Los Angeles and is described as follows: The Westerly 10 feet of Lots 34 and 35, Block 81 of part of Arcadia Santa Anita Tract, in the City of Arcadia, Book 15 Pages 89 and 90 of Miscellaneous Records, in the Office of the County Recorder. EXCEPT from said Lot 34 the South 45 feet thereof. . ~ aeCURrTV TITLE V' -qr/& CLTA-1963 AMENDED 1969 STANDARD COVERAGE POLICY OF TITLE INSURANCE issued hy 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 85 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 exceeding the amount slated in Schedule A, together with costs, attorneys' fees and expenses which the Company may become obligated to pay as provided in the Conditions and Stip~lations hereof, which the Insured shall sustain by reason of: 1. Any defe(:t 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 in Schedule B or excluded from cO\'erage in Schedule B or in the Conditions and Stipulations; ., 2. Unmarketability of such title; or 3. Any defect in the execution of an)' mortp:a~e $hown in Schedule B securing an indebledness, the owner of which is named as an Insured in Schedule A, hut only insofar as such defect affects the lien or charge of said mort~ap:e ullon the estate or interest referred to in this policy; or 4. Priority over said mortgage, at the date hereof. of any lien or encumhrance not shown or referred to in Scht:dule B, or exduded from coverage in the Conditions and Stipulations, said mortgage being shown in Schedule B in the order of its priority; all subjed, 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. d~~t- ~. Secretary ...............~.."""'\.\\\\ ff\:\~~.~.~"'~\II'11 ff.~,:.., ....~ ,.//, .....~.. .."Oll fff::N.\O'U'nPORA'ED\~~ :r r!! 7.~- ~_. --- /...,,~ ~_. ~ .>~ ~?\AfARCu 5 \"'!,'i:,.l~f ~~'. n.. / .'_:;: I" "'J'.. ' . "',:: ,.. ....- Il,\~ c~i"iFo~i\~.-:-..# President \\\\'\.,\,,,,,,,~......- tC: ~ ~A;Y~-" An Authorized Signature ,P-218 (G S.) ~S-'KO IRI"""" C.......,y of """toU, AIglll.red f,.lletn.Itk 0.....'. CONDITIONS AND STIPULATIONS I. Definition ()f Terms The following t~Tms when used in this policy mean: (a) "land": the land described, spe- cifically or by reference, in Schedule A and improvement!; affixed thereto which by law constitute reltl properly; (b) "public records": those records which impart cOtlstructive notice of mal- ters relating to sa.id land: (c) "knowledf;c": actual knowledge, not constructive knowledJ!:c or notice which may be imputed to the Insured by reason of any public re<:ords; (d) "date": the effective date; (c) "morlg8g~": mortgage, 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 indebtedness secured by a mortgage shown in Schedule B is named as an Insured in Schedule A, the Insured shall include (1) each successor in interest in ownership of su~h indebtedness, (2) any such owner who acquires the estate or interest referred to in this policy by fore. closure, trustee's sale, or other legal man. ner in satisfaction of said indebtednes", and (3) any federal agency or instrumen. tality which is an insurer or guarantor under an insural1ce contract or guaranty insurin~ or guaranteeing said indebtedness, or any part thereof, whether named as an Insured herein or not, suhject other- wise to the provisions hereof. 2. Benefits after Acquisition of Title 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 indehtedl1ess, or any part thereof, or if a federal agency or instrumentality acquires said estate or interest. or any part thereof, os a consequence of an in- surance contract or g:uaranty insuring or guoranteeing the indebtedness secured by a mortgage covered hy this policy, or any part thereof, this policy shall continue in force in favor of such Insured, ag:ency 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: (0) Any Jaw, ordillnnce or govern- mental regulation (including but not limo ited to huilding 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 prohihiting a separation in ownership or a reduction in the dimensions or area of any lot or parcel of land. (h) Governmental rights of pol~ce 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 .'w}' 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 abutting owners for access to one of such streets or hiJ!hways, unless otherwise ex- cepted or excluded herein. (d) Defects, liens, encumbrances. ad- verse claims against the title as insured or other matters (I) 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 oC 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) res\lltin~ in no loss to the Insured Claimant: or (4) attaching or created subsequent to the date hereof. (e) Loss or damage which would not have heen sustained if the Insured were a purchaser or encumbrancer for value without knowledge. ([) 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 consisting of actions or proceedings com. cenced against the Insured, or defenses, restraining orders, or injunctions inter- posed ag:ainst a foreclosure or sale of the mortgage and indebtedness covered by this policy or a sale of the estate or interest in said Jand; or (2) for such .action as may be appropriate to establish the title of the estate or interest or the lien of the mortg:ag:e as insured, which litigation or action in any of such e\'ents 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. (h) In case any such action or pro. ceeding shall he hegun, 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 might cause Joss 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 sell the indebtedness secured by a mort- gage covered 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 unmarketahle, the Insured shall notify the Company thereof in writing. 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 writing, prompt:)' notiCy the Company of any defect, lien or encumbrance insured against which shall come to the knowledge of the In. sured, or jf the Insured shall not, in writing, promptly notify the Company of any such rejection by reason of claimed unmarketability of title. then all liability of the Company in regard to the subjert matter of such action, proceeding or matter shall cease and terminate: pro. vided, however, that failure to notify shall in no case prejudice the claim o'f any Insured unless the Company shall lie actually prejudiced by such failure and then only to the extent of such prejudice. (c) The Company shall have the riJ!:ht at its own cost to in$titute and prosecute ally action or proceeding or do any other act which in its opinion may be necessary or desirable to establish the title of the estate or interest or the lien of the morl. g:age 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 liability or waive any provision of this policy. (d) In all cases where this policy permits or requires the Company to prcs- ecute or provide for the defense of any action or proceeding:, the Insured shall secure to it the ril:"hl to so prosecute or provide defense in such action or pro- ceeding, 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) Standard Coverage Pohcy Form COPYright 1963 SCHEDULE R This policy doe~ not insure again~1 10;;:;;;' or danla~f~ hy n~a~ol1 (lr the rollowill~: PAIIT I 1. Taxes or assessment~ which are not ~hown as cXIsIIIl~ Iien:-:- hy the rCf'(}f(I~ of nn)' IIHill/! authority that levie~ laxes or assessments 011 real property or by the puhlic Ict'onb. 2. Any fad~. righb: illten~~ts. or claims which are 1I0t ~howII by Ihc puhlic rccord:- hul \\ hich ('ould he a~('ertainecl by an inspection of said lund or by muking inquiry of pcr:-on:- in po~~e:-sion thel'cof. 3. Ea~emellts: claims of eascmcnt or cIH;umbrall('es which .lIe not :-:howII hy the puhlic recor<I:-. .1. Diserepancies. conflids in boundary linc~, :-horlage ill ilI'~a. cnnoadllllcnb. or allY olher fact:- \\'hil'h a f'orrccl survey \\'ould disclose, and which are 110t :-110\\'11 hy the Pllhli(' ICCOH).... 5. Unl,alented mining duim~: rc~crvatioll:- 01 exceptions ill 111.111'111:- fIr in At'l:- authorizing the 1:-:-lIall('e thereof: water rights: claims or title to wuter. PAIIT II 1. General and special taxes for the fiscal year 1971-1972, a lien not yet payable. . . --1 J60 ~ " ] J J: I . , . <.. blocks 8/ and 83 ',' ;,: L 60 ~ 'C ~ ~ <I) 60 PE.RY. T~IS IS HOT A SuRVEY OF THE LAND BUT IS COMPILtD f,OR INFORMAtiON ONLY FROM OATA SHOWN BY O~fICIAL RECORDS. AQCADIA ~(JOk /5 Paqes !l9.and 90 of Misc. Qec. .4/S0 (a".K 34 PaJe.> 4/ and' 42 "I' fI1lSC. R~c.) \ ~ L l/or Lorena Ave. Lm< of Sanlo Amla W05~,\ I :g COLOR-ADO tJLVD. . /~ Slg 36 1<5 g~ 50 50 ;0 ;0 1;0 50 50 50 50 50 50 50 V3 '-(~c61 33 32 3/ 30 29 28 27 26 25 24 23 22 ~ 4 '2/ ~ ~ 35 ~ ~ . ~ ~ Cl ,q~20' -c; .,., ,.,., :;) ; , S ~ 31) 145 ~ ~- '.t') \ ~ . 50 :JiM5 /9 d'.,.;,:i' 50 50 50 50 50 50 50 50 50 50 <> ) ;:l 3 145 :2 50 50 50 50 50 5'0' 50 50 50 50 50 50 ~ /45 i8 .,., 5 Iii '" ~ ~ '" {Eo ~7'~ .~ :;) /7 ~ '<l I 1/45 ~ 4 5 6 '7 8 9 /0 " /2 /3 /4 15 Sll45 16 ~ 50 50 50 50 50 50 ~O 50 50 50. 50 50 Sl -,. - III LA PORTE <:l '0 5T. <:l 36 145 ~ 50 50 50 5.0 50 50 50 50 50 50 50 50 ~/45 2/ Sl 0'_ ~ 35 ~ 33~ 32 3J 30 29 28 l7 26 25 24 23 22 ~ 20 ::l ~ <:) < ::: 34 145 ~ '" 59-, {O ~ :::145/9 ~ 50'" 50 50 50 50 50 50 50 50 50 ,,2 " It) ~ 3 145..., 50 50 50 50 50 130' 50 50 50 50 50 50 ':},/45 /8 ..., ~ '" <:l <:) '<l :g :g ~ 2 ~4 5 6 7 8 .9 /0 /I /2 /3 14 15 '" /7 :::l '<l ~ I /45 ~ ,';\ 145/6 <:l 0 50 50 50 50 50 50 50 50 50 50 50 50' '" <:> '" ST. JOSePh Sr. <:l '" I . CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Fnce) requested by the Company the Insured shall give the Co~pany all rea~onabJe aid in any such actIOn or proceedmg, m effectin~ settlement, securing evidence, obtaining witr1esses, or prosecuting or de. fending such action or proceeding, and the Company shall reimburse the Insured for any expem;e so incurred. 5. Notice of Loss . Limitation of Action In addition to the notices required under paragraph 4(1)), a statement in writing of any loss Dr damage for which it is claimed the Company is liable under this policy shall be furnished to the Company within sixty days after such 1055 or dam- age shall have been determined and no right of actior1 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 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 such action within the time hereinbefore specified, shall he a conclusive har against main. tenance hy the Insured of IIny action under this policy. 6. Option U) Pay, Settle or Compro- mise Claims The Company shall have the option to payor settle Dr compromise for or in the name of the Insured any claim insured against or to pay the full amount of this poHcy, or, in case loss is claimed under this policy by the owner of the indebted. ness secured hy a mortgage covered by this policy. the Company shall have the option to jlurehuse said indebtedness; such purchase. payment or tender of payment of the full amount of this policr, together with all coslS, attorneys' fees and ex. penses which the Company is obligated hereunder to pay, shall terminate all Iiahility of ttle Company hereunder. In the event, after notice of claim has been p.:iven to Ihe Company by the Insured, the Company offers to purchase said indeht. edness, Ihe owner of such indebtedness shall transfer and assign said indehtedness and the mortp.:Rp.:e securing the same to the Company upon payment of the purchase price. 7. Puyment of Loss (a) The Liability of the Company under this policy shall in no case exceed. in all, the actual loss of the Insllred and costs and attorneys' fees which the Com. pany may he obligated hereunder to pay. (h) The Company will pay, in addi.tion to any loss in!ltlred against by this polic}'. all costs imposed upon the In3ured in litigalion carried on by the Company for the Insured, and all costs and attorneys' fees in litigation carried on by the Insured P-218 (0.5.1 with the written authorization of the Company. (c) No claim for damages shall arise or he maintainable under this policy (1) if the Company, after hs\'ing 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 notice, or (2) for liability voluntarily assumed by the Insured in settling any claim or suit without written consent of the Company, or (3) in the event the title is rejeeted as unmarketable because of a defect, lien or encumbrance not excepted or excluded in this policy, until there has been a final determination by a court of competent jurisdiction sus- taining stich 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 be made without producinp: 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 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 such Insured. except to the extent that such payments reduce the amount of the in. debtedness secured by such mortg-age. Payment in full by any person or voluntary satisfaction or release b}' the Insured of a mortgage coveTed by this policy shall terminate all liability 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 he payahle within thirty days thereafter. 3. Liability Noncumulath'e It is expressly understood that the amollnt 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 mortgage here. nfter executed by the InsuTed 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 by a mort~a~e 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 Settlement Whenever the Company shall ha\'e settled a. claim under this policy, an righl of subrogation shall vest in the Company unaffected b)' 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 ap:ainst 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 subro~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 only that part of any losses insured against 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 Company, shall transfer to the Company all rights and remedies against any person or prop. erty necessary in order to perfec:t such ri~ht of subrogation, and shall permit the Company to use the name of the Insured in any transaction or litillation involvin~ such ri~hts or remedies. If the Insured is the owner of the in. debtedness secured by a mortgage covered by this policy, such Insured may release or substitute the personal liability of any debtor or ~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 any collateral security for the indebted. ness, provided such act does not re.;;ult in any los$ of priority of the lien of the mortp:ap:e. 10. Policy Entire Contract Any action or actions or rights of action that the Insured may have or may bring against the Company arising out of the status of the lien of the mortgage covered by this policy or the title of the estate or interest insured herein must be basod on the provisions of this policy. No provision or condition of this policy can he waived or changed except b)' writinp: endorsed hereon or attached here. to signed hy the President, a Vice Pres. ident, the Secretary, an Assistant Secre- tary or other validating officer of the Com. pany. II. Notices, Where Sent All notices required to be given the Company and any statement m wrltlng required to he furnh-.hed the Company shall be addressed to it at the oflice which issued this policy or to its Home Office, l3640 Roscoe Boulevard, Panorama City, California 91409. 12. THE PREMIUM SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITLE SEARCH, TlTI.E EXAMINATION AND TITLE INSURANCE. SECURITY TITLE INSURANCE COMPANY POLICY OF TITLE INSURANCE /- ~ I "C7' SeCURITY TITLB - SECURITY TITLE INSURANCE COMPANY HOME OFFICE 13640 ROSCOE BOULEVARD PANORAMA CITY. CALIFORNIA 91409 3444 WILSHIRE BOULEVARD LOS ANGELES. CALIFORNIA 90054 SECURITY TITLE INSURANCE COMPANY