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HomeMy WebLinkAboutD-1191 I ~" ;~ ~ ., ~,.:, . ~ . \ t 1;' . I \ CERTIFICATE OF ACCEPTANCE BKDI614pc680 This is to c~rtify that the interest in real property conveyed or - transferred to the City of Arcadi~, a municipal corporation, by the deed, grant, conveyance or instrument dated October 20, 1901, from or executed by Pacific Electric Railway Company , is hereby accepted by the City of Arcadia by the order or authori- zation of th~ City Council of the City of Arcadia contained in R$solution No. 2963, adopted January 21, 1958, and recorded in the office of th~ Recorder of Los Angeles County on Januar 29, 1958 as instrument No. 3069 in Book 56448, Page 264, Off Records of Los Angeles County; and the City of Arcadia conse s_t ~e recorda- t~on thereof by its duly authorized officers. ~/ ~ ~4 .-4/~/~ : City Manager The document thus described is hereby approved as to form. ~'",,'/;A:r:;a: 7 ~-~~~.--.:.. C .' City:A orn:ey . I:j -.1 ~ , . , ,. , _. . ,J BKOI614pc67"9' ~~ I/; 1/ - l t '1', 0' CORPORATION GRANT DEED 1777 PACIFIC ELECTRIC RAILWAY COMPANY, a California ... . .' ... . porporation, . . .... hereinafter termed "Grantor", does hereby ~ant to the CITY OF ARCADIA, a municipal corporation, real property described as follows: . . ...... . . . ...... . ... . . ... ~ '. . . All that certain real property situate in the City of Arcadia, County of Los Angeles, State of California, in Santa Anita Rancho, as per map recorded in Book 1, page 97 of Patents, in the office of the Recorder of sai4...: County, described as follows: . . Parcel I . . ...... . . . All of that certain parcel of land described in the deed to Pacific Electric Railway Company, recorded on May 24, 1945, in Book 22049, Page 2 of Official Records, in the office of said Recorder. . ...... . . .... . . . . Parcel 2 ... . . .. . All of that certain parcel of land described in Parcel No. 1 in the deed to Pacific Electric Railway Company, recorded on April 9, 1942 in Book 19266, Page 132 of said Official Records. Parcel 3 All of that certain 60-foot wide strip of land described in the deed to Pacific Electric Railway Company, recorded on February 28, 1952, in Book 38352, Page 138 of said Official Records. I. Parcel 4 That portion of that certain real property described in the deed to Pacific Electric Rail- way Company, recorded on April 6, 1903, in Book 1763, Page 178 of Deeds, in the office of said Recorder, lying westerly of the westerly line of Santa Anita Avenue, 100 feet wide, as shown on map of Tract No. 9~9, recorded in Book 17, Page 13 of Amps, in the office of said Recorder. SUBJECT to easements, restrictions, reservations, conditions and covenants of record ! - 1 - RECORDED IN OFFICIAl RECORDS OF LOS ANGELES COU FoR TITLE INSURANCE &~U~;;. MAY 15 )962 AT 8 A.M. RAY E. LEE, ~n'Y. RK.rtI. " ,..... "'.1 ~ "'.1 " I I " ". BKOl614pc681 EXCEPTING and reserving, however, to the,' Grantor, ., its successors and assigns, forever, the title and ex- clusive right to all of the minerals and mineral ores of every kind and character, occurring five hundred feet (500') beneath the surface thereof, now known to exist or hereafter discovered upon, within, or underlying said land or that may be produced therefrom, including without limiting the generality of the foregoing, all petroleum, oil, natural gas and other hydrocarbon substances and . products derived therefrom, together with the exclusive i I and perpetual right of said Grantor, its successors and assigns, of ingress and egress beneath the surface of said land to explore for, extract, mine and remove the same, and to make such use of said land beneath the surface as is necessary or useful in connection therewith and other use thereof which uses may include lateral or slant drill- ing, digging, boring or sinking of wells, shafts or tunnels to other lands not subject to those reservations and ,easements; provided, however, that said Grantor, its successors and assigns, shall not use the surface of said land in the exercise of any of said rights and shall not disturb the surface of said land or any improvements thereon or remove or impair the lateral or subjacent support of said land or any improvements thereon, and shall conduct no operations within five hundred feet (500') of the surface of said land. In the exercise of said reserved exclusive easements, mineral rights and reservations, Grantor may pool said lands with other lands. The rights of Grantor shall include but shall in no way be limited to, all subterranean rights necessary, incidental - 2 - " ~ -! -.l -1 ST ^ TE OF CALIFORNIA, } ss. e ounty of Los Angeles ..' If' .' - '~ ON ()" 1-11 8 h-( --2 n 7':~ 194. before ;"". the undersigLihr Notary Public in and for said County and State, personally a1J1H!areA D. R. IS ;: &. crEl.~~L MANAGER ' /mown to me to be the Vice President aru1 A. M. COLE /mown to niB I . , ta be the Ass t. li!ifrFJI!II..Pt. PACIFIC ELEC'.l,'rtl.C RAILWAY COMl'ANi: the Corporation that executed the within Instrument, known to me to be the persons wh() executed the within Instrument, on behalf of the Corporation heroin named,and acknowledged to me thet such Corporation 6%ecutod the within IMlrument pursuant to U. by-law. or a resolution of its board of directors, ' ~ ' WITNESS my hand and of/icf4I ,oal, ~ '~ LJ ~ ' - ARRF.RN TjQCfni'I AME <TVP R RINTED) . "NOtory Public in and for said County and State, ACKNOWLEDGMENT-CORP.,-PRES. Be SEc.,-FoRM 223-REV. 7p5B My Commission Expires February 27. 1962 72.07 " - '. , , 81<D 1614pc682 or convenient to the full exercise of the rights reserved by Grantor below five hundred feet (5001) of the surface of said land, and shall include the right to drill and maintain well holes through the said land below said five hundred feet (500') from the surface thereof for the purpose of removing oil, gas and other hydrocarbon substances from other lands, whether suoh other lands be adjacent, oontinguous or distant from said lands. The above described land hereby conveyed is not necessary or useful in the performance of the duties of said Grantor to the public. IN WITNESS WHEREOF, PACIFIC ELECTRIC RAILWAY COMPANY, a California corporation, has hereunto caused its corporate name and seal to be affixed by its Vice-President and General Manager and Assistant Secretary, duly authorized this ~ day of (J/':'tnber , 1961. PACIFIC ELECTRIC RAILWAY COMPANY ATTEST: By V By , ~ It . ~ ~ .' , , " ,'/ ,. '~ ~ " ::i :1 ~ 01 J I - 3 - ROSCOE HOLLINGER AUDITOR.CONTR01.LER ('v - 1/ 7 I COUNTY OF LOS ANGELES DEPARH1ENT OF AUDITOR-CONTROLLER MARK H. BLOODGOOD CHIEF DEPUTY J. R. PASSARELLA, CHIEF TAX DIVISION ' 153 HALL OF ADMINISTRATION LOS ANGELES 12, CALIFORNIA MADISON 5-3611 July 30, 1963 Attn: Nicholas: Bertrand Tax Cancellations , City of Arcadia Office of the City Attorney 240"W. Huntington Drive Arcadia, California Attention: James A. Nicklin City Attorney Re: Those portions of Santa Anita Rancho as shown on map recorded in Book 1, pages 97 and 98 of Patents -- Land described as Parcens 23-1 to 4 inclusive ' I Dear Mr. Nicklin: en, ~~~-dZ,S~:~, In reference to your letter dated June 27, 1963 taxes have been cancelled in accordance with Section 4986 of the Revenue and Taxation Code. This cancel- - lation was ordered by the Honorable Board of Super- visors July 23, 1963 by Authorization No. 61695. Very truly yours, ROSCOE HOLLINGER, Auditor-Controller YfR H~ \.... By J. R. Passarella, Chief Tax Division JRP/NJB/ram ~ I I, TO 1012 F C CollfornlCl Land TItle Auoclattoa Standard Coverag. 'ollcy Form Copyright 1961 POL'ICY OF TITLE INSURANCE ' ISSUED BY Title Insurance and Trust Company Tide Insurance and Trust 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 panies named as Insured in Sched~e A, the heirs, devisees, personal repre- sentatives of such Insured, or if a corporation, its successors by dissolution, merger or consolidation, against loss or damage not exceeding the amount stated in Schedule A, together with costs, attorneys' fees and ex- penses which the Company may become obligated to pay as provided in the Conditions and Stipulations pereof. which the Insured shall sustain 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 C, 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. Unmarkerability of such title; or 3. Any defect in the execution of any mortgage shown in Schedule B securing an indebtedness, the owner of which is named as an Insured in Schedule A, but only insofar as such defect affects che lien or charge of said mortgage upon the estate or interest referred to in this policy; or 4. Priority over said mortgage, at the date hereof, of any lien or encumbrance DOt shown or referred to in Schedule B, or excluded from coverage in che Conditions and Stipulations, said mortgage being shown in Schedule B in the order of its priority; all: b' h "'tli""''''Co:\'\'\d'~'''-'' d S' I' h d h' h Co d' , d S' I ' su Jea, owever,:to" ,e n It]ons ap tIpU atIons erete annexe , W IC n !tlOns an tIpU atJOn5, I ~~ l"'l r I\N ~ ',' t together with &hedule's'A;-B ahd C; are hereby made a part of this policy, '~O~....- ~~,}~('> ......"',.'. ; .. ~- ....",,- ~)d~~e. IS PRO"'00 'C.;"/,..,, ',I, . F ,." (, c,. )-,. c /} '(I "',~,,:~ :)(' ~ It'. ,,_ ~_: C"...../O... ,. . . {; .::;:.' (i;~. ~:l" 'to1't."~n ;,~It1f.e.f~<Jf1;~eof, TItle Insurance and Trus~ Company h~ caused Its ?; t." li:-,~..j~~"'t ._:t:~/ ~orp.er~r~~~~~~~ seal to be hereunto affixed by Its duly authOrIzed officers ;::; ::! ~,"- '.:~ c =:: 9nt~e ~t<, sJ!.o",n m Schedule A. ~ I '" __ ~ c..,\j. 'q.'~ J 0 Z ~ ~ ;- ': .' 1 'I'" _~k---.... C - P.! 1:\ ,- '0 ,,,'~t,;," ....'~cJ, I' .': c -<: % ~ >..~)..J.. ,):\" r""'(...."'-.I....-;. ,:.~r Q(} J;; ~. ',' "-Y(' '.'-1).''':':;''1'..''0'''0 "" j': Title Insurance and Trust Company fV~II' <'d)ctit~~'E\S~\li~co~4.'.5 ~ ~ ..,I~ e oOocooo() ~,,~ ~ ~/--1. .1. ',:>\4/ttGEI ES,\> $ by, ~PRESIDBNT \ l~ _ ~-... , ~)\\\""",.....~ Attest ~~ 4-- r;E~RBTABY CONDITIONS AND STIPULATIONS (Includes those In the American Tlfle AssociatIon-Owners Policy-Standard Form B.19601 4. DEFENSE AND PROSECUTION OF ACTIONS -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- menced against the Insured, or defenses, restraining orders, or injunctions interposed against a foreclosure or sale of the indebted- ness seaued by a mortgage 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 mort- 5. NOTICE OF LOSS - LIMITATION OF gage as insured, which litigation or action ACTION in any of such events is founded upon an In addition to the notices required under alleged defccl, lien or encumbrance insured paragraph 4(b), a statement in writing of against by this policy, and may pursue any any loss or damage for which it is claimed 3. EXCLUSIONS FROM THE COVERAGE OF litigation to final determination in the court the Company is liable under this policy THIS POLICY of last resort. shall be furnished to the Company within This policy does not insure against loss (b) In case any such aaion or proceed- sixty days after such loss or damage shall or damage by reason of the following: ing shall be begun, or defense interposed, have been determined and no right of action (a) Any law, ordinance or governmental or in case knowledge shall come to the In- shall accrue to the Insured. under this policy iegulation - (including but not limited. to sured of any claim of title or interest which until thirty days after such statement shall building aDd zoning ordinances) restricting is. adverse to the title of the estate or interest have been furnished, and no -reCovery shall or regulating or prohibiting the occupancy, or lien of the mortgage as insured, or which be had by the Insured Under this policy use or enjoyment of the land, or regulating might cause loss or damage for which the unless action shall be commenced thereon the character, dimensions, or location of any Company shall or may be liable by virtue of within five years after expiration of said improvement now or hereafter erected on this policy, or if the Insured shall in good thirty day period. Failure to furnish such said land, or prohibiting a separation in faith contract to sell the indebtedness se- statement of loss or damage, or to com- ownership or a reduction in the dimensions cured by a mortgage covered by this policy, mence such action within the time herein. or.area of any lot or parcel of land. or, if an Insured in good faith leases or before~sf>ec:ifi.ed,. shall ,be a conclusive bar ....... (b) . ~~emmental rights of police contraas to sell, lease or mortgage the same, against mai;{ieii8:nce by ~~- .Insured of any power or CO?inent .domain unless notice of or if the successful bidder at a foreclosure. action under this policy. . ;.: (Conditions and Stipulations Continued and Concluded on Lost Page of This Pollcy) ) ,. DEFINITION OF TERMS The following terms when used in this policy mean: (a): "land": the land described, specific- ally or by reference, in Schedule C and improvements aflixed thereto which by 1a~ constitute real property; (b) "public records": those records which impart constructive notice of matters relating to said land; (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to the Insured by reason of any public records; (d) "date": the dfegive date; (e) "mortgage": mortgage, deed of trust, trust deed, or other security instro. ment; and (I)' "insured": the party or parties herein designated 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 (11) each successor in interest in ownership of such indebtedness, (2) any such owner who acquires the estate or in- terest referred to in this policy by fore- closure, trustee's sale, or other legal man- ner io satisfaction of said indebtedness, and (.3) any federal agency or instrumentality which is an insurer or guarantor under an insurance conuact or guaranty insuring or guaranteeing said indebtedness, or any pan thereof, whether named as an insured herein or not. 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 io 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 insurance contract or guaranty insuring or guaranteeing the in- debtedness 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, su~ject to all- of the conditions and stipu1a4 tions hereof. '.' judicial action to exercise such rights ap- pears in the public records at the date hereof. (c)' Title to any property beyood tb<: lines of the land expressly described in Schedule C, or title to streets, roads, ave- nues, 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 spe.- cifically provides that sueb 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 highways, unless otherwise excepted or excluded herein. (d) Defects, liens, encumbrances, ad- verse claims against the title as insured or other matters (11) created, suffered, assumed or agreed to by the Insured; or (,2) known to the Insured either at the date of this policy or at the date such Insured acquired an estate or interest insured by this policy and not shown by the public records, unless disclosure thereof in writing 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; or (4) attaching or created subsequent to the date hereof. (e) Loss or damage which would not have been sustained if the Insured were a purchaser or encwnbrancer for value with- out knowledge, sale under a mortgage covered by this policy refuses to purchase and in any such event the tide to said estate or interest is rejected as unmarketable, the Insured shall notify the Company thereof in writing. If such notice shall oot be given to the Company within ten days of the receipt of process or plead4 iogs or if the Insured shall not, in writing, promptly notify the Company of any defect, lien or encumbrance insured against which shall come to the knowledge of the Insured, or if the Insured shall not, in writing, promptly notify the Company, of any such rejection by reason of claimed unmarket. ability of title, then all liability of the Com- pany in regard to the subject matter of such action, proceeding or matter shall cease and terminate; provided, however, that failure to notify shall in no case prejudice the c1.ain! of any Insured unless the Company shall be actually prejudiced by 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. be necessary or desirable to establish the title of the estate or interest or the lien of the mortgage as insured; and the Company may take any appropriate action under the terms of this policy whether or not it shall be liable there- under and shall not thereby concede liability or waive any provision of this policy. (d) In all cases where this policy per- mits or requires the Company to prosecute or provide for the defense of any aaion or proceeding, the Insured shall secure to it the right to so prosecute or provide defense in such action or proceeding, and all appeals therein, and permit it to use, at its option, the name of the Insured for such purpose. Whenever requested by the Company the Insured shall give the Company all assist- ance in any such action or proceeding, in effecting settlement, securing evidence, ob- taining witnesses, or prosecuting or defend. ing such action or proceeding, and the Com- pany shall reimburse the Insured for any expense so incurred. i.'_ " TO 1012 ABC ColUomla Lond Title Association Standard Coverage Policy form Copyright 19611 SCHEDULE A Premium $919.00 AmoUnt $ 375,000.00 , Effective DateJuly 7, 1962 at 7:30 a,m. INSURED Policy NO,5706879 CITY OF ARCADIA, a municipal corporation. 1,1 Title to the estate or interest covered by this policy at the date hereof is vested in: I I , I I , ! I I , I 2,: CITY OF ARCADIA, a municipal corporation, The estate or interest in the land described or referred a fee, to in Schedule C covered by this policy is SCHEDULE B This policy does not insure against loss or damage by reason of the following: I PART I 1. Taxes or assessm~ts which are not shown as existing liens by the records of. any taxing authority that levies taxes or assessments on real property or by the public records. 2. Any facts, rights, interests, or claims which are not shown by the public records but which could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. 3. Easements, claims of easement or encumbrances which are not shown by the public records. 4. Discrepancies, conflicts in boundary lines, shortage in area, encroachments., or any other facts which a correct survey would disclose, and which are not shown by the public records. 5. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. TO 10128 Co", ~I wllfornla Land TitI. AnoclatJon Stondard Coverage Policy form Copyright 1961 . I" , S C H E D U L E B - (Continued) PART II I. General and special county and city taxes for the fiscal year 1962-1963, a lien not yet payable. . I TO l012C-1056C C A.merlcan Tltl. Association loan Policy I\ddltlonal Coverao-odober, 1960 ., SCHEDULE C California Land Tltl. Assodatlon Standard Coverage I'ollc:y--1961 I Thlland referred to in this policy is situated in the county of Los Angeles, state of California, an4 is described as follows: All that certain real property situate in the city of Arcadia, county of Los Angeles, state of California, in Santa Anita Rancho,. as per map recorded in book I page 97 of Patents, in the office of.the recorder of said county, described as follows: Parcel I: All of that certain parcel of land described in the deed to Pacific Electric Railway Company, recorded on May 24, 1945 in book 22049 page 2 of Official Records, in the office of said recorder. Parcel 2: All of that certain parcel of land described in Parcel I in the deed to Pacific Electric Railway Company, recorded on April 9, 1942 in book 19266 page 132 of said Official Records. Parcel 3: All of that certain 60 foot wide strip of land described in the deed to Pacific Electric Railway Company, recorded on February 28, 1952 in book 38352 page 138 of said Official Records. By a quitclaim deed dated April ll~ 1962 and recorded July 6, 1962 as Instrument No. 562~ Marie R, Snyder, Joseph Doble Mullender, Baldwin M. Baldwin and Dextra Baldwin McGonagle surrendered all right of surface. entry and all right of ingress and egress within 500 feet of the I surface of said land for the purpose of exploring for, mining, extracting or removing any minerals or oil, which I had been previously excepted from said land by deeds recorded June 3, 1902 in book 1574 page 292 of Deeds, and I February 28, 1958 in book 38352 page 138, Official Records. I , I i I I I I I I , j , i I , j i I Parcel 4: That portion of that certain real property described in the deed to Pacific Electric Railway Company, recorded on April 6, 1903 in book 1763 page 178 of Deeds, in the office of said recorder, lying westerly of the westerly line of Santa Anita Avenue, lOa feet wide, as shown on map of Tract No. 949, recorded in book 17 page 13 of Maps, in the office of said recorder. EXCEPT from Parcels I to 4 above the title and exclusive right to all of the minerals and mineral ores of every kind and character, occurring 500 feet beneath the surface thereof, now known to exist or hereafter discovered upon, within, or underlying said land or that may be pr~duced therefrom, including without limiting the generality of . Ithe foregoing, all petroleum, oil, natural gas and other I hydrocarbon substances and products derived therefrom, together with the exclusive and perpetual right of said I jgrantor, its successors and assigns of ingress and egress : beneath the surface of said land to explore,for, extract, imine and remove the same, and to make such use of said land beneath the surface as is necessary or useful in I connection therewith and other use thereof which uses [may include lateral or slant drilling, digging, boring I or sinking of wells, shafts or tunnels to other lands I not subject to those reservations and easements; provided, I however, that said grantor, its successors and assigns, shall not use the surface of said land in the exercise i of any of said rights and shall not disturb the surface of said land or any improvements thereon or remove or I impair the lateral or subjacent support of said land or I any improvements thereon, and shall conduct no operations ! within 500 feet of the surface of said land, as excepted I and reserved in the deed from Pacific Electric Railway , Company, a corporation, recorded May 15, 1962 in book D-1614 I page 679, Official Records. _ i In the,exercise of ~aid reserved exclusive easements, I mineral rights and reservations, grantor may pool said ; lands with other lands. The rights of grantor shall include I but shall in no way be limited to, all subterranean rights I' necessary, incidental or convenient to the full exercise of the rights reserved by grantor below 500 feet of the I surface of said land, and shall include the right to drill , and maintain well holes through the said land below said I 500 feet from the surface thereof for the purpose of I removing oil, gas and other hydrocarbon substances from , other lands, whether such other lands be adjacent, con- I tiguous or distant from said lands. I I . I I I rfi I. A PORTION OF LAND SITUATED IN 'rHE CITYOF ARCAD~ , ~ ~ ~ J ~'v X~ QV """ = ---- -- \ --- ~ ~ """ ~) ~ ~ \. ~, ~~ ~~ s;...~ ~ \ \ \ .3'// i?o' \ -1 / 1 I I THIS IS NO'r A SURVEY OF THE LAND BUT IS ClilMPILED FOR HIFORHATION BY THE TUlLE INSURANCE AND TRUST COMPANY FROM DATA SHOWN BY OFFICIAL RECORDS. CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) 6. OPTION TO PAY. SmLE 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 pay the full amount of this policy, or, in case loss is claimed under this policy by the owner of the indebtedness secured by a mortgage covered by this policy, the Company shall have the option to purchase said indebtedness; such pur. chase,' payment or tender of payment of the full amount of this policy, together with all costs, attorneys' fees and expenses which the Company is obligated hereunder to pay, shall terminate all liability of the Company hereunder. In the event, after notice of claim has been given to the Company by the Insured, the Company offers to purchase said indebtedness, the owner of such in- debtedness shall transfer and assign said indebtedness and the mortgage securing the same to the Company upon payment of the pwch~se price. 7. PAYMENT OF LOSS (a) The liability of the Company under this policy shall in no case exceed, in all, the actual loss of the Insured and' costs and attorneys' fees which the Company may be obligated hereunder to pay. (b') The Company will pay, in addition to any loss insured against by this policy, all COStS imposed upon the Insured in litiga- . tion carried on by the Company for the In- sured, I and all costs and attorneys' fees in litigation carried on by the Insured with the written authorization of the Company. . (c) No claim for damages shall arise or be maintainable under this policy (1) if the Company, after having received notice of an I alleged defect, lien or encumbrance not excepted or excluded herein removes such defect, lien or encumbrance 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 excl uded in this policy, until there has been a final de- termination by a COUrt of competent juris- diction' sustaining such rejection. '. r. (d) All payments under this policy, ex- cept payments made for costs, attorneys' fees and expenses, shall reduce the amount of the I insurance 'pro tanto and no, payment "" shall be made without producing this policy . for endorsement of such paymem unless the . policy be lost or destroyed, in which caSe proof of such loss or destruction shall be furnished to the satisfaction of the Com-. pany; provided, however, if the owner of' an indebtedness secured by a mortgage shown' in Schedule B is an Insured herein then s~ch 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' indebtedness secured by such marc- gage. Payment in full by any person or voluntary satisfaction or release by the ]n~ sured of a mortgage covered by this policy I I 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 pay- able 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 mortgage here- after executed by the Insured which is a charge or lien on the estate or interest de- scribed or referred to in Schedule A. The provisions of this paragraph numbered 8 shall not apply to an Insured owner of an indebtedness secured by a mortgage shown in Schedule B unless such Insured acquires title to said estate or imerest in satisfac- tion of said indebtedness or any part thereof, 9. COINSURANCE AND APPORTIONMENT (a) In the event that a partial loss oc- curs after an alteration or improvement sub- sequent to the date of this policy, and only in that event, the I nsured becomes a co- insurer to the extent hereinafter Set forth. If the cost of the alteration or improve- ment exceeds twenty per centum of the amount of this policy, such proportion only of any partial loss established shall be borne by the Company as one hundred twenty per centum of the amount of this policy bears to the sum of the amoum of this policy and the amount expended fot the alteration or improvement. The foregoing provisions shall not apply to costs and attorneys' fees incurud by the Company in prosecuting or providing for the defense oE actions or proceedings in behalf of the Insured pur- suant [Q the terms of this policy or to COStS imposed on the Insured in such actions or proceedings, and shall not apply to losses which do not exceed, in the aggregate, an amount equal to one per centum of the face amount of this policy. Provided, however, that the foregoing coinsurance provisions shall not apply to any loss if, at the time of the occurrence of such loss, the then value of the premises, as so improved, does not exceed the amount of this policy, and provided further that the foregoing coinsurance provisions shall not - 'apply to an insured owner of an in- debtedness secured by a mortgage shown in Schedule B' prior to acquisition of title to said estate or interest in satisfaction of said indebtedness or any part thereof. (b) If the land described or referred to in Schedule C is divisible into separate and . noncontiguous parcels, or if contiguous and such parcels are not used as one single site, and a loss is established affecting one or more of said parcels but not all, the loss shall be computed and settled on a pro rata basis as if the face amount of the policy was divided pro rata as to (he value on the date of this policy of each separate inde- pendent parcel to the whole, exclusive of 807 improvements made subsequent to the date of this p~licy, unless a liability or value has otherwise been agreed upon as to each such parcel by the Company and the Insured at the time of the issuance of this policy and shown by an express statement herein or by an endorsement attached hereto. 10. SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company shall have set- tled a claim under this policy, all right of subrogation shall vest in the Company un- affected by any act of the Insured, and it shall be subrogated to and be entitled to all rights and remedies which the Insured would have had against any person or prop- erty in respect to such claim had this policy not been issued. If the payment does not cover the loss of the Insured, the Company shall be subrogated to such rights and reme- dies 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 property necessary in order to penea such right oE subrogation, and shall per- mit the Company to use the name of the Insured in any transaction or litigation in- volving such rights or remedies. If the I nsured is the owner of the in4 d~btedness secured by a mortgage covered by this policy, such Insured may release or substitute the' personal liability of any debtor or guarantor, or extend or otherwise modify the terms of payment, or release a ponion of the estate or interest from the lien of the mortgage, or release any col- lateral security for the indebtedness, pro- vided such act does not result in any loss of priority of the lien of the mortgage. 11. POLICY ENTIRE CONTRACT Any action or actions or rights of action that the Insured may have or may being 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 provisions of this policy. No provision or condition of this policy can be waived or changed except by writing endorsed hereon or attached hereto signed by the President, a Vice President, the Sec- retary, an Assistant Secretary or other vali- dating officer of the Company. 12. NOTICES. WHERE SENT All notices required to be given the Company and any statement in writing re- quired to be furnished the Company shall be addressed to it at the office which issued this policy or to its Home Office. 433 South Spring Street, Los Angeles 54, California, 13. THE PREMIUM SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITLE SEARCH, TITLE EXAMINATION AND TITLE INSURANCE. Offering complete title services throughout the state 01 California with just one local call. POLICY OF TITLE INSURANCE Title Insurance and Trust Company Home Office 433 South Spring Street Los Angeles 54, California " Complete title services also available in the states of Alaska, Nevadn, Oregon and Washington through subsidiary Companies. ..