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HomeMy WebLinkAboutD-1786 , ~~ , I' , CERTIFICATE OF ACCEPTANCE aKD5184p'c80 I This is to certify that the interest in real property conveyed Dr transferred to the City of Arcadia" a municipal corporation, by the deed, grant, conveyance Dr instrument dated August 3, 1971 , from or executed by John K. Asder and Zabelle Asder , is hereby accepted by the City of Arcadia by the order Dr 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 authorize ,officers. (XJ ~ CJl ,i!' ~J~ City Engineer p .,";.- The document thus described is hereby approved as to fDm. ~ ::<i{~ . y Att ~~~ "~QU~~T~O DT , r BKDSI84pc800 (::- ciTY OF ~cAilIA AND WHEN RECORDED MAIL TO RECORDEO IN OFFICIAL RECORDS OF LOS ANGELES COUNTY. CALIF. FOR SECURITY TITLE INSURANCE CO. SEP8 1971 AT 8:01 A.M. Registrar-Recorder - r- Nom. City Clerk 51r_' P.O. Box 60 Addr." City & Arcadia, Calif. 5101. L MAil TAl( STATEMENTS TO r- of Arcadia Nom. City 5'rHt Addre" Cily & StoteL I -.l SPACE ABOVE THIS LINE FOR RECORDER'S USE I DOCUMENTARY TRANSFER TAX $......... . ....~__n..n.............. _COMPUTED ON fULL VAlU OF PROPERTY CONVEYED, _DR COMPUTED ON FULL YALUE LESS LIENS AND ~ BRANCES REMAINING AT TIME OF SALE. I --.J Signature of Declarant or Agent termining tax. firm Name Free recording requested under Gov. Code 6103. Document necessary due to City acquiring ti Ue. Grant Deed TO 405.1 CA (1,70) THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, JOHN K. ASDER, SR. and ZABELLE ASDER hereby GRANT(~ 10 the CITY OF ARCADIA, a Municipal Corporation Ihe following described real properly in lhe City of Arcadia, County of Los Angeles ,Slale of California: That portion of Lot 1 in Block 83 of Arcadia S~nta Anita Tract, in the City of Arcadia, County of Los Angeles, State of California, as sho~ on map recorded in' Book 15, Pages 89 and 90 of Miscellaneous Records, in the office of the County Recorder of said County, described as follows: .' Beginning at the southwest corner of said Lot 1; thence northerly along the westerly line of said lot, a distance of 50.00 feet to the northwest corner of said Lot; thence easterly along the northerly line of said Lot to a line'that is parallel with and distant easterly 10.00 feet, measured at right angles, from said westerly line of Lot 1; thence southerly along said parallel line to the beginning of a tangent curve concave northeasterly and having a radius of 15.00 feet, said curve also being tangent at its easterly terminus to the southerly line of said Lot 1; thence southeasterly along said curve to said easterly terminus; thence westerly along the southerly line of said Lot 1 to the point of beginning. ,~ STATE OF CALIFORNIA COUNTY LOS ANGELES / }SS, JL; It! a~'- 111~ Asder, Sr. (J ae e~ ~R >- >- OJ OJ 2: 0 '" '" >-- '" >-- u '" '" ;;: :r u, Dated ~. 3 1'17/ I . :J1 . before me, the under. )ublic in and for said State. personally appeart'd Sr. and Zabelle Asder to he the person-B-whose name r-; . known to me arp- suhscribed to the within they executed the same. OFFICIAL SEAL FLORENCE E. NEERGARO NOrARY PUBLIC - CALIFORNIA LOS ANGELES COUNTY MyCommlsslon ExpiresMar.4, 1972 2: o i:: a.' a: u en' ~Q) ~' <:.n instrument and acknowledged that ,. :::::,~ ~:?I.C;:~' ~'E, Xv:J"~ P. O. Box 60, Arcadia, Calif. ''...... . Name (Typed or Printed) (Thl~ In':!. for uml'!1I1 notarial ....,,1) Title Order No. Escrow or Loan No. 'Q) 7cru 37rf' 'J<,. , ,MAil TAX STATEMENTS' AS DIRECTED ABOVE - ",,: ..- ,< " " 1 ~ ,- GRANT'DEED GRANT 'DEED Title Insurance and Trust Company Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL .. _I' ."~'JI....~,"\ .. .... .," ..: .. .". MARK H. BLOODGOOD AUDITOR.CONTROLLER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 625-3611 September 8, 1972 City of Arcadia 240 West Huntington Drive Arcadia, California 91006 Attention: Robert D. Ogle, City Attorney Re: First Avenue Widening Parcel No. 15 Gentlemen: Pursuant to your lett~r dated October 11, 1971, taxes havE' been cancelled in accordance with S~ction 4986 of the Revenue and Taxation C"de. This cancel- lation was ordered by the Honorable Board ..f Super- visors Nov. 30,1971, by Authorization No. 25468. Very truly yours, MARK H. BLOODGOOD, Auditor-C~ntroller ,;::~.".( ,~.' "'l' ',...rv:'./~/;/:,_", ..>', ~ ......\_< By Edward Guerrero, Chief, Tax Division EG,,1>\G/tc Tax Div. ffc.-11 8/72 /(/_ / , __ r- ROBERT A. GILL CHIEF DEPUTY E. GUERRERO CHIEF. TAX DIVISION , fr~C:~/'v S!:"p _ f2() ...... J. ') Crry ... 197) c/7yOf" -'I ' -'17), f?c: Of?N'O/A ~y l ~,. - October 11. 1971 ,~'. ,'':':'), H. 111oo'l;<;ocJ, Auditor-Controller JOO ,"'::.:1; Tel,l)l::- :;t"~::;Gt, Room 153 :.os',)c'J:!.oc, Cl"~.iZo_'ni(', 90012 ,'\tt;:>;,t:'.;JU: T:.:;.~ CC\1ccllL',ttol1 Section _'2Ln." :~~'. iJlocc2;ooci : 31~~1') jc ~t: rtct:n!~nt "0',' C~'jlc,,11-!tion ot '!:;:,;,cCs "";.~, ,."t'Tt '" '0 ....~ ~.. .....~r-, ')'0 J.', '. .~.... -' 4.. \ .~'.':' 1-';" "'-, ...}o . . _..", .:_~::.:sc C.'.~ 'c~1 ':'': ~-:' '~~1~ Ll:...t'J: v.~ :>~~a.''',i:i.L''l3 ell to";~::G Cr' "~~1.~ P ,,;"Y~~."'~Y ~:t1_C:(""I~j:; _ :~ c -:.. 'I.:': ~nclo-::~:. ~;(,.~~~:',' 07~ ~:::c...1 0 ':'~h::_G t'...o~)C ~"';;tV 10 J?t?.r'i; n.;:1 ~ ],Ci'T\.1" :;Ot'cc;J,. r.[;~ ~~:;_.,,~\: fo~'l ntroot ...'iJn:"~ -J'j ;1t.lrpo2'J':. . Ii :-.c:-",:; :~.''; l'1? 1JL-.:1_1~~.i.{' _~ 0.1 :It. , '1 \' -:h':,.,. 'G~:l}... :., YOU,'3. r:o:..:_.:::~j: .J. O~:G'~~ L. .";:'7 :~ttoJ.'{)c:J ~)O:r ~ 3~clo;;;u~'e, / cc~ City Clerk V' John K. and Zabe11e Asder f- ~ Fe{; v- // +f1}Y SeCURITY TITLE CLTA-1963 AMENDEO 1969 STANOARD COVERAGE POLICY OF TITLE INSURANCE issued by ~--..., /.r- SECURITY TITLE INSURANCE COMPANY Security Title Insurance Company, a California corporation, herein called the Company, for a valuable consideration paid for this policy, the number, the effective date, and amount of which are shown in Schedule A. hereby insures the parties named as Insured in Schedule A, the heirs, devisees, personal representatives of such Insured, or if a corporation, its successors by dissolution, merger or consol- idation, against Joss or damage not exceeding the amount stated in Schedule A, together with costs, attorneys' fees and expenses which the Company may become obligated to pay as provided in the Conditions and Stipulations hereof, which the Insured shall sustain by reason of: L 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 in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulations; 0' 2. Unmarketability of such title: or 3. Any defel:t in the execution of an)' mortp::a~e showl! in Schedule B securing an indebtedness. 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 mortp:ap:e upon the estate or interest referred to in this Jlolicy; or 4. Priority over said lIIortg:age, at Ihe date hereof. of all)' lien or encumhrance nol shown or referred to ill Schedule B. or excluded r rom coverage in the Conditions and Stipulations, said mortgage being shown in Schedule R in the order of its priority; all subject, however, to the provisions of Schedules A ano B and to the Conditions a~d Stipulations hereto annexed. III 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~<.. ~. Secretary ~~""'''\\\\ ~~~SUR.4A.'\\' :\. '..........rC 1'1 ?~~.ee ...~ III. ;::/..;.... oOR .e.<Q~ ~ t:...:\\\~\\\lr ATEO~"'~ :r (! ,.,- ~=: :=::-z ~c:.r:. -.- ."'g~ %Q~.AfARGH.5. \~r,:f;f .. /. I,......-^.. .. Y':;: l,tJ ee. .. ~.::- 'II,~/iiiioii.i\':..~ff President \\\\,\"",~- t.o----" _0 ~ V. ~ rr"u.r:t::9n.J An Authorized Signature P-218 (0.5.) ~S.fKO Inlut.nu C_"ny of ""'.".. A.gll,.,.d T'........'~ 0_" CONDITIONS AND STIPULATIONS 1. Definition of Terms The following term5 when used in this policy menn: (a) "land": the land described, spe- cifically or by reference, in Schedule A and improvements affixed thereto which by law constitute real property; (h) "public records": those records which impart constructive notice of mat. ters relating to said land; (c) "knowledge": actual knowledge, not constructive knowled~e or notice which may he 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. ments; and (f) "insured": the party or parties named as Insured, and if the owner of the indehtedness 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 such 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 indebtedness, and (3) any federal agency or instrumen. tality which is an insurer or guarantor under an insurance contract or guaranty insurinv; 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 Title If an insured owner of the indehtedness secured by II mort~age 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 pohcy 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 CO\'erage of this Policy This policy does not insure against loss or dama~e 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 area 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 p;operty beyond the lines of the land expressly described in Schedule A, or title to streets, roads, 3venues, lanes, ways or waterways on which such land abuts, or the ri~ht to mallltain 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 matters (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 (3) resulting 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 encumhrancer 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 (l) for the defense of the Insured in all litigation consisting of actions or proceedings com. cented against the Insured, or defenses, restraining orders, or injunctions inter- posed against a foreclosure or sale of the mortgage and indebtedness covered by this policy or a sale of the estate or interest in said land; or (2) for such action as may he appropriate to establish the title of the estate or interest or the hen of the mortgage 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 might cause loss or damage for which the Company shall or may he liable by virtue of this policy, or if the Insured shall in good faith contract to sell the indebtedness secured hy 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 he given to the Company within ten days of the receipt of process or pleadings or if the Insured shall not, in writing, prompt:y notify the Company of any defect, lien or encumhrance 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 any such rejection hy reason of claimed unmarketahility of title, then all llability of the Company in regard to the subject 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 of any Insured unless the Company shall he actually prejudieed hy such failure and then only to the 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 he necessary or desirable to establish the title of the estate or interest or the lien of the morl- gage as insured: and the Company may take any appropriate action under the terms of this policy whether or not it shall be 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 proceedinp:. the Insured shall secure to it the ri~ht to so prosecute or provide defense in such action or pro. ceeding, and all appeals therein, and per. mit it to use, at its optio-n, the name of the Insured for such purpose. Whenever (Conditions and Stipulations Continued and Concluded on Last Page of This Policy) CaYilo-rnia - Lculd Title Association Standcud Coverage Policy Form <;::opyrjght 1963 ~~ ilL. SCHEDULE A Effective Amount of liahilily: S 2,000.00 Date: September EI, 1971 at 8:01 A.M. . Policy No: 7003784 Premium S 40.00 INSURED CITY OF ARCADIA, a Municipal Corporation. 1. The estaLe or intere::-L in the land described or referred to III thi~ ~chedllle covered hy this policy is: a fee 2. Title Lo the e::-tate or inLerest covered by thi~ policy at the date hereof is ve~le{1 in: CITY OF ARCADIA, a Municipal Corporation. ;). The lall(l reCerred 10 in this policy i~ situate{1 in the Slale oC CaliCornia, County of Los A~geles and is described as Collows: That portion of Lot 1 in Block 83 of Arcadia'Santa Anita Tract, in the City of Arcadia, as shown on Map recorded in Book 15 Pages 89 and 90 of Miscellaneous Records, in the Office of the County recorder of said County, described as follows: Beginning at the Southwest corner of said Lot 1; thence Northerly along the Westerly line of said Lot, a distance of 50.00 feet to the Northwest corner of said Lot; thence Easterly along the Northerly line of said Lot to a line that is parallel with and distant Easterly 10.00 feet, measured at right angles", from said Westerly line of Lot 1; thence Southerly along said parallel line to the beginning of a tangent curve concave Northeasterly and having a radius of 15.00 feet, said curve also being tangent at its Easterly terminus to the Southerly line of said Lot 1; thence Southeasterly along said curve to said Easterly terminus; thence Westerly along the Southerly line. of said Lot 1 to the point of beginning. ' .....Olllornlc L.ann 111ll! 1\1I110ClaUDn Standard Coverage Polley form Copyright 1963 SCHEDULE B Thi;;; policy doe;;; not insure against 10:-''' or dalllage hy rt~a....on of the following: PAHT I I. Taxes or assessment:'> which are not shown a~ existilll! liell~ hy the rel'onb of any tl.lxinl! aUlhorily that le\'ie~ taxes or assessments on real property or by the puhlic rel'ord~. 2. Any fads. right::.. illtele~b. or duims \\hich are 1I0t sho\\1I hy the I'uhli(' reeonb hut \\hich ('ould he ascertained hy all inspection of said land or by making inquiry of per~olls in l'o~:5e~~ion thereoL ;L Easements. claim::; of easement or eneumbrallcet- whidl arc lIot ~howll hy the puhlie recol'(I~. .1. Dist;rei'allcie~. conflict,:; ill boundary linc~_ ~hortagc in area. (~llt'IOI.I(;hlllenb, or any olher faeL~ whil'h a !'l>rrccl survey would disclose. and which <lrc not ~hown hy the puhlic rpl.ord.... 5. Unpatented mining dailll~; ret-ervalioll~ or c:\l.clltion.... in IIUlt'lIl:-- III' ill At'l:-- alllllOri~ill~ the i~~Il<lIH't. thereof: water rights. claims or tille to water. PAWl' II 1. General and special taxes for the fiscal year 1971-1972, a lien not yet payable. . [t . , . ~ ,\ . . . . "', blocks 8/ and 83 AQCADIA {Jock J2 Paqes.89 and 90 of Mise. Rec. ..4/S0 (8DOK .3'1 PaJ~s 4/ and 42 "I'MiSC. R<c.) :g 130 LorenoAve. COLORADO /)L VD' / g ~ L J60 ~ " ] ] Jt 60 I ['n< of Sonlo /lntla Wash '\ . SlQ 36 145 Q~ 50 50 1'0 50 1'0 50 50 50 50 50 50 50 2 3,9 \/~2 (jl C::l 6 3.3 32 31 30 29 28 27 26 25 24 23 22 $I '2/ Ie; ----- - . ~ ::J 145" \ -- ~ ~~5 ~ ~ ~ 20\ ~ :a ; , :;) ~34145~ li50 '" , :;; , 50 ifi145 19 ....~, " 50 50 50 60 50 50 50 50 50 50 <> 1'> '" /45 '" 50 50 SO 50 SO 5~ 10 50 50 60 50 50 1~/4.5 /8 .., :g 3 ; ~ ~ iil '" ~.} '" 8 '3<> /7 Sl '",> '" / L45 ~ 4 5 6 '7 8 9 /0 1/ /2 /3 /4 /5 ~ 145 /6 ~ 50 150 50 so 50 so 50 50 50 50, so 50 ~ -'" . III LA POI2TE: <:l <0 L_ o ~ '( ~ 8 l.J If) 60 PUY. THIS IS NOT A SURvEY OF THE LAND BuT IS COMPILED f.oR INFORMATION ONLY FROM O"TA SHOWflI BY OFfiCIAL RECORDS. ST. !i1 36 /45 Sl 50 50 50 50 50 50 50 50 50 50 50 50 ~/45 2/ Iii ::J 35 ..., 33'Q 32 31 30 29 28 Z7 'C6 25 'C4 23 22." 'CO ." ." '" ",'" '<) 34 /45 ~ '" ~ 59, {O ~ ~/45 19 ~ '<) so'" 50 50 50 50 50 so so 50 50 '" e '<) 145." so so 50 50 so ljo' I~o 50 50 so so 50 ",145 /8 ~ '" 3 '" '" '" ." 'Q '" ~ 2 ~ 4 -", /7 ." 5 6 7 8 9 /0 1/ /2 13 14 /5 ." .., ~ / 145 ~ 50 50 50 50 so 50 so 150 so so so SO ,~ /4S 16 Q () '0 Sr. JOSEP/7 () '0 I ST. CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) requested by the Company the Insured shall give the CompaflY all rea~onab~e aid in any such action or proceedmg, m effecting settlement, securing evidence, ohtaining witnesses, or proseclltin.g or de. fending such action or proceedmg, and the Company shall reimburse the Insured for any expense so incurred. 5. Notice of Loss ~ I..imitation of Action In addition to the notices required under para~raph 4(b), 8 statement in writing of any loss or damag~ for which it is claimed the Company i~ liable under this policy shall he furnished to the Company within sixty da)'s 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 sllch statement shall have been furnished and no recovery shall be had by the In- sured under this policy unless action shaH 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 a~tion within the time hereinbefore specified, shall he a ronclllsive bar against main. tenance b)' the Insured of allY action under this policy. 6. Option to Pay, Settle or Compro- mise Clnimtl The Company shall have the option to payor settle or compromise for or in the name of the Insured llllY claim insured against or to pa)' the f~l1 amount of this policy, or, in case loss is claimed under this policy by the owner of the indehted. ness secured hy a mortgage covered by this policy. the CompaflY shall have the option to purchase said indebtedness; such purchase. payment or tender of payment of the full amount of this policy, top:ether with all costs. attorneys' fees and ex. penses which the Company is obligated hereunder to pay, shall terminate all liability of the Company hereunder. In the event. after notice of claim has heen t:t:iven to the Company by the Insured, the Company offers to purchase said indebt- edness, the owner of such indebtedness shall transfer and assiJ!:n said indebtedness and the mortA"aA"e securing the same to the Company upon paymenl of the purchase price. 7. Puymenl of Loss (a) The Liabilit), of the Company under this policy shall in no case exceed. in all, the actual los~ of the Insured and costs and attorneys' fee~ which the Com. pan}' may he obligated hereunder to pay. (ill The Company will pay, in addition to any loss insured against by this policy, all costs imposed uport the Insured in litit:t:ation carried on by the Company for the Insured, and all costs and attorneys' fees in litigation carried on hy the Insured P.2IS (O.S,) 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 having received notice of an alle~ed 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 nOlice, 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 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, shall 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 of the Company; provided, howe\'er, 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 surh Insured, except to the extent that such payments reduce the amount of the in. dehtedness secured by such mort~age. Payment in full by any person or voluntary satisfaction or release by the Insured of a mortp:age covered by this policy shall terminate all liability of the Company to the insured owner of 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 mortp:age 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 he deemed a payment to the Insured under this policy. The provisions of this paragraph num. bered 8 shall not apply to an Insured owner of an indehtedness secured by a mortJ!:aJ!: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 have settled a claim under this policy, all right of subrogation shall vest in the Company unaffected hy any act of the Insured, and it shall he subrogated to and be entitled to all rights and remedies which the Insured would have had 8J!:ainst any person or property in respect to such claim had . this policy not been issued. If the pay. ment does not co\'er the loss of the In- sured, the Company shall be suhroJ!:ated to such riJ!:hts and remedies in the proportion which said payment bears to the amount of said loss. If loss should result from any act of the Insured, such act shall not void this policy, hut 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 suhrogation. 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 per1er.t such rif!;ht of subrogation, and shall permit the Company to use the name of the Insured in any transaction or litif!;ation involvinp: such rights or remedies. If the Insured is the owner of the in. debtedness secured by a mortgage rovered by this policy, such Insured may release or suhstitute the personal liability of an)' debtor or guarantor, or extend or other. wise modify the terms of payment, or release a portion of the estate or interest from the lien of the mortga~e, or release any collateral security for the indebted. ness, provided such act does not remIt in any loss 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 al!:ainst the Company arisinp: 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 he based on the provisions of this policy. No provision or condition of this policy can be waived or changed except by writing endorsed hereon or attached here- to signed by the President, a Vice Pres. ident, the Secretary, an Assistant Secre. tary or other validating officer of the Com. pany. II. Notices, Where Sent All notices required to be given the Company and any statement in writing required to be furnished the Company shall be addressed to it at the office which issued this policy or to its Home Office. 13640 Roscoe Boulevard, Panorama City, California 91409. 12. THE PREMiUM SPECiFiED IN SCHEDUI.E A IS THE ENTIRE CHARGE FOR T1TI.E S~:ARCH, TITl.E EXAMINATION AND T1TI.E INSURANCE. SECURITY TITLE INSURANCE COMPANY POLICY OF TITLE INSURANCE ~ s. SeCURITY TITLE SECURITY TITLE INSURANCE COMPANY HOME OFFICE 13640 ROSCOE BOULEVARD PANORAMA CITY, CALIFORNIA 91409 3444 WILSHIRE BOULEVARD LOS ANGELES, CALIFORNIA 90054 SECURITY TITLE INSURANCE COMPANY