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Home My WebLink AboutD-1787 BKDSI86pc388 : CERTIFICATE OF ACCEPTANCE ~It! ! '.' ,,' 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 3. 1971 , from or'executed by Mildred Alice Shelton , 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 authLDfficers. ~ ~~~~~ y ~.f City Manage The d6cument thus described is hereby approved ~ ~ *i!r~ 'I , .". ~ c-~ /'( ity ney '-. , , . K~\';UKL1IN(,j "C.QU~::iTI::;~ I5Y .. I ..' ,,' CITY OF ARCADIA " , -. .....-'.-.~. 1097 1- . , / " \':r't '- BKDSI86PG387 AND WHEN Re:CORDe:O MAIL TO RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY. CALIF. OR SECURITY TITLE INSURANCE CO, SEP 10 1971 AT 8:01 A.M. Registrar.Recorder Nom. I City Clerk P.O. Box 60 I St....t Addr... City & Slot. Arcadia, Calif. L ~ .- SPACE ABOVE THIS LINE FOR RECORDER'S USE I Nom. City of Arcadia I lJOCUMENTARY TRANSFER TAX $........... o COMPUTED ON FULL VALUE OF PR RTY CONVCYED, 0: o COMPUTED ON FULL VALUE LESS LIENS & ENCIJMSRA;" a~:?ii~'''~:S~7d& Signature of declarant or age ete ing ta'S,~ firm np.;J o Unicorporated Area"0-C 00~J('..~.~.."................_.. ........rl 'AX STAUMfNlS '0 51....t Addr.u City & S'OI.L -.J Grant Deed D.T.T.$ I FREE ntEJ TO 40S CA (9.581 THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, MILDRED ALICE SHELTON hereby GRANT(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 easterly 10 feet of Lot 17 in Block 82 of Arcadia Santa Anita Tract, in the City of Arcadia, as per map recorded in Book l~', 'Pages -89 and 90 of'Mi"scellaneDus Rec'Drds', in the office of the County Recorder of said County. Free recording requested under Gov. Code 6103. Document necessary due to City acquiri~e title, Dalcd rZ/",d .:; /17/ ~~~~, ~~ . . , " }SS. ,.' ~ OJ Z c' UJ UJ ,... '" ,... u '" UJ ;: :r: u. before me, the under- Public in and for said State, personally appeared ildred Alice Shelton . known to me to he the person_whose name i R suhscrihed (0 the within instrument and acknowledged that !=lhp. executed the same. WITNESS my hand and official seal. n . ".,"" ~M' e:. kr~ Name (Typed or Printed) OFFICIAL SF:AL FLORENCE E. NEERGARD NOTARY PUBLIC. CALIFORNIA LOS ANGELES COUNTY MyCommission Expires Mar. 4,1972 Z I :0 1 ~ @:l ~ ~ P. O. Box 60, Arcadia, Calif. (ThIs Brt'n fol' "fII..laJ notarial Real) MAil TAX STATEMENTS AS DIRECTED ABOVE :> d"'rl 37 Tille Ordcr No. Escrow or Loan No. . t- ~.tI!- .J'.f.: .~~' ,,' ......---------'" , ---- . ~- ., -'~' , GRANT DEED Title Insurance and Trust Company , COMPLETE STATEWIDE TITLE SERVICE WITH ON E LOCAL CALL I I , i \ GRANT DEED Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL ,- ... -::.. . .... ,"'...... ,\ ," ... 1'.. .~ , ..) ," .,. "- " " ,..,:3)';f.~~~.~-i:~;: \ ..',,-' - " ~ J}- II 'If 1 COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR. CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES. CALIFORNIA 90012 625.3611 ROBERT A. GILL CHIEF DEPUTY MARK H. 8LOODGOOD AUDITOR. CONTROLLER E. GUERRERO CHIEF, TAX DIVISION September 19, 1972 City of Arcadia 240 West Huntington Drive Arcadia, California 91006. Attention: Robert D. Ogle, City Attorney RECEIVED ~CD 2.J 1972 v_. CITY OF ARCADIA CITY. ~TTORNEY SUBJECT: First Avenue Parcel No. 9 Gentlemen: Pursuant to your lett"r dated October 11, 1971, taxes have been cancelled ir. aocordance with SAction 4986 of the Rever.ue and TaxatioL Code. Tr~s cancel- lation was ordered by the Honorable &ard ~f Super- visors Dec. 30, 1971, by Authorization No. 26720. Very truly Y('lurs, MARK H. BLOODGOOD, Auditor-Controller ";..,.,, .', ,;. .....,r""_' _....,);:'. "..:..... ~.,..'\_( By Edward Guerrero, Chi.I'lf, Tax Division EG,MG/tc ~LdALoC Ll0: c.u yj fl1_Ltmu Tax Pi v. ffc-11 8/72 6'a.'-I\.:CGt./ (J~..t;CXJ ~d (f.o-t.. II, ~k "Il.:J. Octo~er 12, 1971 1.:,'. ;.;':::.1';, Il. aloo';t;OOQ, lIuditor-Contro11er 50J .:CC'i:; TJLiP:W 8tZ"czt, Room 153 :'"-03 ,\i1.:;clent C:ulitoI'niu 90012 ~~~Gntionl ~ox Ccncellntion Section !)1C.l~ i 7~'. BIOO(i~OCcL: :"'v.b(j~ct.: ,ilcQu~ct 1'0".' Gnnccl13.tion c:(' Taxc2 ::?i~r. t 1\.l!enL~ .:.>n.,;"cc:'.. r~o. \,1 <'!.. ~c..c~ cDnc~l :.1~.. :) . ~hJ dc.te 0:::' rcc'J~ ~:i.(~'3 .:.ll -i;c.:;:ac on '~;JC p_'.O)3J."-;;Y 6_~;",;c:,,"1~J:2 l ..1.11 the oncJ.'J3c::,\ co;~r 0:1:' ~i0~d. :_::~'::':J PL'OPC;:t,y 1:; PQ1~'i:; o~' c 1:J..'ccr !)e.rcel QcC?ui:.:au '~or street tJ;i.den:t!'lJ purposes. ':;;,1e1<e is ,10 b2ilciil1S 0\1 :i. t. Vz.y tTuly YOUi.'"S. HaD':'.~t.I,1 J). cam Ci';;y httornoy RDO:at Enclosl.!."oes cc: City Clerk V Mildred Alice Shelton ~ */~~ CLTA-1963 AMENDED 1969 STANDARO COVERAGE POLICY OF TITLE INSURANCE issued by SECURITY TITLE INSURANCE COMPANY Security Title Insurance Company, a California cor'p.oration, 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 ~r consol. idation, against 1055 or damage not exceeding the amount stated in Schedule A, together ~ith ,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 defect in or lien or encumLrance on the title to the estate or interest covere'd 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; or 2. Unmarketability of such title: or 3. Any defect in the execution of ony mort/.:oJl:e shown in 'Schedule B ~ecuring an indebtedness, the owner of which is named liS an Insured in Schedule A. hut only 'insofar as such defect affects the lien or charge of said mort~age upon the estdte or interest referred to in this policy: or .." ~. 4. Priority over said mort~age. at the date hereof. of any lien or encumhrance not shown or referred to in Schedule B, or excluded from coverage in the Conditions and Stipulations, said mortgage being sho",n in Schedule B in the order of its priority; all subject, however, to the provisions of Schedules A and n 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.' A~~.. ~. Secretary --~"''\.\.'\,\\\ . ~~SUR4 1111 . ,?<- ~ ....... ~C III ?~,:~... ....~ IJ -~.. ..el,/. t:..I\\\t\\\lPORATEi~~% ~~: ~~~ ~_- --- .""l:J;;':: /':-. f\ .~:;: '1.?\AtAR"H 5 \~"a'!4!:t ~~._ lJ,. ._"""~ 'I "n... .- ,~ . . ... - , I, ..... .- T: . Il\\,/i'iiio"i.-;.\':-o.-': , \\\'\"""~~ ~P /~ _0 ~ (/.w. ~.-t'~/ An Authorized Signature JlI.74fr President P-2IB (G.S.) "SIIIKO In........ C"",~...y'" ............. IIqlll.... T,..........k _ I' /' 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 reluting to said land; (c) "knowledge": actual knowledge, not constructive knowled~e or notice which mllY 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- 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 nn Insured in Schedule A, the Insured shl.lll include (I) each successor in interest in ownership of such indebtedness, (2) any such owner who acquires the estate or interest referred to in this policy by fore, closure, trustee's sale, or other legal mnn- ner in satisfaction of said indehtedness, and (3) any federal agency or instrumen- tality which is nn insurer or guarantor under an insurance contract or guaranty insurin~ 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 a mortga~e 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 f!:uarunty insuring or guaranteeinf!: 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, af!: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: (a) Any law, ordinance or govern- mental regulation (includinp; but not lim- ited to building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of ~he 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 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 rif!:ht 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. rif!:hts 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 ahuttinv; owners for access to one of such streets or highways, unless otherwise ex- cepted or excluded herein. (d) Defects, liens. encumbrances, ad- ver~e claims against the title [IS insured or other matters (1) created, suffered, as. sumed or av;reed 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 hy this policy and not shown by the public records, unless disclosure thereof in writ- inv; by the Insured shall have been made to the Company prior to the date of this policy: or (~l resuhinf!: in no 105-' to the Insured Claimant: or (4) attaching or created suhsequent to the date hereof. (e) Loss or damap:e which would not have heen sust[lined if the Insured were a purchaser or encumbrancer for value without knowledge. ([) An)' "consumer credit protection", "truth in lendinf!:" or similar law. 4. Defense and Prosei:ulion 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 (I) for the defense of the Insured in all litigation consisting of actions or proceedings com- cenced af!:ainst the Insured, or defenses, restraining orders. or injunctions inter- posed a~ainst a foreclosure or sale of the mortf!:8f!:e and indebtedness covered b)' this policy or n 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 lien of the mortf!:af!:e as insured, which litigation or action in any of such events is founded upon an alle~ed defect, lien or encum. brance insured av;ainst 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 mip;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 sell the indebtedness secured by a mort. v;age 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 unmarketable, the Insured shall notify the Company thereof in writing. If such notice shall not he f!:iven 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 shull come to the knowledge of the In. sured, or if the Insured shall not, in writinJ!,'. promptly notify the Company of any such rejection by reason of claimed unmarketahilit)' of title, then all liability of the Company in rep:ard to the subject matter of such action, proceeding or matter shall cease and terminate; pro, vided, however, that failure to notify shall ill no case prejudice the claim of any Insured unless the Company shall he actually prejudiced hy such failure and then only to the extent of such prejudice. (c) The Com pan)' shall have the rif!:ht 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. ,:::ap:e as insured; and the Com pan)' may take allY appropriate action under the terms of this policy whether or not it shall he liable thereunder and shall not thereby concede Jiahility 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 an)' action or proceedinj:!:, the Insured sh::lIl secure to it the right to so prosecute or provide defense in such action or pro- ceedinj:!:, 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) L.aUlorma Lana j 1110 1\SSOC'l.Quon Standard Coverage Policy Form Copynght 1963 SCHEDULE A Effective Date: September 10, Amount of liability: S 2,000.00 1971 at 8:01 A.M. Policy No: 7003799 Premium S Contract INSURED CITY OF ARCADIA, a Municipal Corporation. 1. The estate or inlere:sl in the land described or referrc<1 10 III this schedule co\'cred hy this policy IS: A fee 2. Tille to the estate or interest covered by this policy at the date hereof is vested in: CITY OF ARCADIA, a Municipal Corporation. ;.t The land referred 10 in this policy is situated in the Stale of California: County of and is described as follows: Los Angeles. The Easterly 10 feet of Lot 17 in Block 82 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 of said County. . StcJl1dard- Go-verage Policy Form COPYright 1963 SCHEDULE R Thi~ policy doe:;; not insure againsllo!'<:. or dama~e hy rea....oll (If lilt: following: PAHT I 1. Taxes or assessmenls which are nol ~hown a~ eXI~tlll!! licll::- hy the record:. uf i.lllY ta:\ill!! authority thai le\'ie~ laxes or assessments 011 real property or by the puhli(' record~. 2. Any facts. rights. inlere::,ls. or daims which ale not :,ho\\ II hy the puhlic record::- hut which ('ould be ascertained hy an inspection of said land or by making inquiry of per:-Oll~ in po~~e:.~ioll thereof. ;\. Easemcnb, claims of easement or encumbran('es which art:' nol ~hOWll hy the puhlie Iceord:-. .1. Disercpalleie:,. ('ollfli<.:bi ill boundary line:-, ::-hortage ill alea. el1t'IOUchmcllt~, or UIlY other fad:, which U correct :,ur\'cy would disdose, and which are not :-hown h)' the puhlic rel'ord:-. 5. Unpatented mining dainb; re~en'alion~ or e.\:(eplion~ ill p.ltClll~ or in AI'l:- ulltllOrizing: the 1:-:",ualll'C thereof; waleI' rights. claims or litle to waleI'. PAHT II 1. General and special taxes for the fiscal year 1971-1972, a lien noi: yet payable. 2. An action in eminent domain affecting said land herein described under Case No. NEC 11207, in the Superior Court of the State of California in and for the County of Los Angeles, ~mtitled City of Arcadia, a municipal corporation, Plaintiff ,. - vs - Mildred Alice Shelton, et al., Defendants. Notice of pendency of said action bein recorded August 31, 1971, as Instrument No. 4462, Official Records. .,. . ,\ , J !t. ~ ~ ~ ... ~ ~ /00 ~ ~ ~ ~- L " ~ o \I ",/ COLORAOO 8LVO, /&. G' ,N .so' .sO' ,,-0 SO s~ .sO' so' SO' "",' .S<>' $/.~,g. ~ .}4 ~, ~ 20 ~ ",sIt: . ~ ~ /.-160 . ~J ' ..; , , , : ~i, /1 ~ ~ "Ii , , , , : /.5I.t; ~ '.s! J() 21 21 27 26 2.5 24 2.1 22 21'" .{S/6".9 ~ Ii 18 '~ ~ ,\ ,. " .}2 ~ 82 ~ ~ ~ Bi. K': ,{5/."''' . /SI.6 4, ~ 't . - , .' ~ " /t> ~- .0 .- .0 S"b ..-. .0 So s. Co .. ..~'" c:;...9 " "S-", G ~ .0 " ,g . /7 . , ~ ~ ",' " ~ ".:r.. , .' ..,s-/. .., " . /O~ - " .2 ~ ;o4f : , , , , 7 , : // , /z' /$ , ~~ ~ /~ ~ S" & 7 I!J "&7 '" ....s-~~ \ /$"/.,., , ,I ~ ~ "s- . '" " ",s-" c;. . ~-D SO .-0 s. s_ 5"D 5"0 ~o ~o .0 S"b ....-.. '"',P C:;;o t J , ! ~', ~ ., i: 1..11 ~ 'j .... u ~' -. 'j )l o \!l ~ . ,~-9 Pe:>-e T~ ~r. -/tJ.s' ..". 'A - r '~ , .1:'( ; ~.~i ,-" " , ! I r ! , , " ~~ 1 " , " "I ~ \ i I ,~ -9RC-9,o "-9 oS -9.<./ r-9 ,094// rA 7-l?'9C"T .' " " LOT.$ /-~4 A1"~~:>>L4~ A!3.LOC< 8~ nus IS NOT A SUR-VI'" 0' nu LAND BUT IS COMPILED FOA IN'OAMATlON ONLY 'ROM DATA SHOWN BY OF'ICIAL R.ICORCS ,: ,\ . ~ __~:ci.:....__ CONDITIONS AND STIPULATIONS (Con';nued and Concluded From Reve.... Side of Policy Face) requested by the Company Ihe Insured shall give the Company :111 re~onab~e aid in any such action or proceeding, 10 effecting settlement, securin~ evidence. obtaining witnesses. or prosecuting or de- fendinJ!; such action or procl:eding, and the Company shall reimburse the Insured for any expense so incurred. 5. Notice of Los8 _ Limitotion of Action In addition to the nOlices required under paragraph 4(b), 8 statement i~ wr~tin.g of any loss or damage for which It IS claimed the Company is liable under this policy shall be furnished to the Company within sixty days after such loss or dam- aRe shall have been determined and no riJ!;ht of action shall accrue to the Insured under this policy until thirty days after such statement shall have been furnished and no recovery shall be had by 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 damo(l;e, or to commence ~uch action within the time hereinbefore specified, shall he a conclusive bar agninst main. tenance by the Insured of any action under this policy. 6. Option to Par, Settle or Compro. mise Claims The Company shall have the option to payor settle or compromise for or in the name of the Insured any claim insured against or to po)' the full amount of this policy, or, in case Joss is claimed under this policy by the owner of thl: indebted- ness secured by a mortgage I:overed by this policy, the Company shall have the option to purehase said indebtedness; such purchase, payment or tender of payment of the full amount of this policy, together with all costs, attorneys' fee~ and ex- penses which the Com pan)' is obligated hereunder to pay, shan tenninate all liability of the Company hen:under. In the event, afler nolice of claim has been p:iven to Ihe 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 upon payment of the purchase price. 7. Payment of Los8 (a) The Liability of the Company under this policy shall in nO case exceed. in all, the actual los.<; of the Insured and costs and attorneys' fees which the Com- pany may he ohligated hereunder to pay. (b) The Company will PllY, in addition to any loss insured against by this policy, all costs imposed upon the Insured in litigation carried on hy the Company for the Insured, and all costs ilnd attorneys' fees in litigation carried on by the Insured P-218 (GS.) with the written authorization of the Company. (c) No claim for damages shall arise or be maintainable under this policy (l) if the Company, alter having 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 rejected 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 such rejection. (d) AU 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, however, if the owner of an indebtedness secured by a mortgage shown in Schedule B is an Insured herein then such payments shaH 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. dehtedness secured by such mort~age. Payment in full by any person or voluntary satisfaction or release by the Insured of a mortgage 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 be 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 mortga~e here- alter 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. bered 8 shall not apply to an Insured owner of an indebtedness secured by a mortp:age 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 1.y any act of the Insured, and it shall he 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 dairn had this policy not been issued. If the Po)'. ment does not cover the loss of the In- sured, the Company shall be subrogated 10 such rights and remedies in the proportion which said payment hears 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 shaH 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 perfect such right of subrogation, and shall permit the Company to use the name of the Insured in any transaction or litip:ation involving such ri(l;hcs 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 an)' debtor or guarantor, 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 Bct does not re3ult 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 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 based on the pro\'isions of this policy. No provision or condition of this policy ran he waived or changed except by writinp: 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 wrltmg required to he furnished the Company shall be addressed to it at the office which issued this policy or to its Home Offie'e. 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. I. I SECURITY TITLE INSURANCE COMPANY POLICY OF TITLE INSURANCE (~ TITLe SECURITY TITLE INSURANCE COMPANY HOME OFFICE 13640 ROSCOE BOULEVARD PANORAMA CITY, CALIFORNIA 91409 3444 WILSHIRE BOULEVARD LOS ANGELES, CALIFORNIA 900St SECURITY TITLE INSURANCE COMPANY