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HomeMy WebLinkAboutD-1601 " . CERTIFICATE OF ACCEPTANCE 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 ins trument dated March 7; 1968 . , from' or execu ted by Charles Wagner and Ethyl V. Wagner , is hereby accepted by the City of. Arcadia by the order or authorization of the City Council of the City of Arcadia contained in Resolution No. 2963, adopted January 21, 1958, and recorded in the office of the Recorder of Los Angeles County on January 29, 1958, as instrument No. 3069 in Book 56448, Page 264, Official Records of Los Angeles County; and the City of Arcadia consents to the recordation thereof by its duly ~~ City Manage The document thus described is hereby approved as "J .1 '''' r ( j ',oJ. ~~D3942r~ 155 ~ l\:) ~ ~~e~ to form. ~,Cg~ City Attorn f"'" ,~ - << "'~ .. .,'. ..RECORDI~G REQUESTED BY 229 CITY OF! ~BCM>I,A. . __h~_. ~K'0394ZrGI84 0- /Co/ AND WHEN AECO"DI!:D ""....rt. TO RECORDED IN OfFICIAL RECORDS OF LOS ANGELES COUNTY, CALIF. FOR TITLE INSURANCE & TRUST CO. MAR 18 1968 AT 8 A.M. RAY E, LEE, County RecordBt . ~ t, ?:?5'7S~ (7. /-J. City Clerk P.O. Box 60 Arcadia, Calif. I ~ [ City of Arcadia I SPACE ABOVE THIS LINE FOR RECORDER'S. US~ o,r5, $-<'-7~-V [FREE ~I , , , , ........Il T...... STATE.....ENTS TO No",e. Slr_t Addre.. City & State L --1 Grant Deed AFFIX LR.5, $. n. ABOVE TO 405 C (4_67) THIS FORM FURNISHED BY TITLE INSURANCE AND TRUS'" COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, CHARLES WAGNER and ETHYL V. WAGNER * o f-" IT "" hereby GRANT06) to the CITY OF ARCADIA, a Municipal Corporation, in fee for public street and road purposes, to become a part of and to be known as Baldwin Avenue, in, on, upon and across o H, :t> >-; D ~ 0.. f-" ~ 'Z UJ :::;: UJ '< lJi ~ o z , t en ~ ~ the following described real property in the Ci ty of Arcadia., Conntyof Los Angeles -, State of California: 1he westerly 17.00 feet of Lot 40 of Tract .No. 4869 in the_.City of Arcadia, County of Los Angeles, State of California, as per map recorded in Book 52, Page 13 of Maps, in the office of the County Recorder of said County. EXCEPT therefrom that portion of said land included within the north 104.00 feet of said Lot 40. Dated 7JLJ- 7, r <ltt , ~ 0 p, vo n '" v oj 0 z n ::: en '" n -; -; '" rn CJ Z , ~ "/ , STATE OF CALIFORNIA' COUNTY OF LOS ANGELES On :;igned, a Notary Public in nnd for sa.id Stale, personally appeared Charles Wagner and Ethyl V. Wagner }ss before me, the under- ...." , known to me suhscribed to the within executed the same. Signature (.0 "' ~ - ..-.,......---.- 1 7j:~2\ l':il.l! RIGGS . ~. ",~~ .'::;~'1i;)'" NO, t\.~ f P'.,J3UC, CJ...U.FCRN1.'-\ it ...,li-...t:<~.>-..; PRiNCIPAL' 'OrHC!: IN '\Y <.~"t~.:. LOS ANGEi.b COLIN I Y ~ I ~ - ~ ~ . . ...--'.-~ ...-: .~. .........--.. ~ to 1)0.. JEAN RIGGS My Commission Expires April 5. 1969 Name (Typed or Printed) ~ (Thl~ UNI [ur olfklut noUtllll Healj Title Order No, Escrow or Loan No. ) MAIL TAX STATEMENTS AS DIRECTED ABOVE ,- ",. ~' I, " .. . .--. 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 .- ., -',. <' \ .~ .. . 0.. , - - ,-<-' r~;- _:~' .': . . . . '" MARK H. BLOODGOOD AUOlTOR-CONTRCLLER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CA.UFORNIA 90012 625~381 I February 7, 1969 City of Arcaida P. O. Box 60 Arcadia, California 91006 Attention: Robert D. Ogle City Attorney RECEIVED FES 11 1969 .CITY OF ARCADIA CIT'( .I\TIORNEY Re: Baldwin Avenue Parcel No. 26 Gentlemen: Pursuant to your letter dated May 9, 1968, taxes have been cancelled in accordance ~ith Section 4986 of the Revenue and Taxation Code. This cancel- lation ~as ordered by the Honorable Board of Super- visors October 22, 1968 by Authorization No. 06170. Very truly yours, lLlRK II. BLOODGOOD, Auditor-Controller CfeA~-4~,t-~ By J. R. Passarella, Chief Tax Division .;.. JRP /EHP It c ROBERT A. GIL.L. CHIEF OEPUTY J. R. PASSAREL.LA, CHIEF, TAX PlV1S10N ~. - -...: CITY COUNCIL DON W: HAGE . MAYOR City of Arcadia C. ROBERT ARTH MAYOR PRO TEM EPWARD L. BUTTERWORTH ROBERT J. CONSIDINE JAMES R. HELMS, JR. ~ 240 WEST HUNTINGTON DRIVE ARCADIA, CALIFORNIA LYMAN H. COZAD CITY MANAGER CHRISTINE VAN MAANEN CITY CLERK May 9, 1968 Mr. 500 Los John R. Passarella, West Temple Street, Angeles, California Auditor-Controller Room 153 90012 Attention: Eleanor Parker, Tax Cancellation Section Subject: Request for Cancellation of Taxes Baldwin Avenue Parcel No. 26 . Dear Mr. Passarella: Please cancel as of the date of recording all taxes on the property described in the enclosed copy of deed. This prop- erty is part of a larger parcel acquired for street widening purposes. There is no building on it. Very truly yours, RDO: jh Enc. ~ MAILING AOORE!iSES CITY HALL P. O. BOX eo g1()oe LIBRARY 20 W. DUARTE ROAD g1006 POLICE DEPARTMENT P. O. BOX 60 9100e FIRE DEPARTMENT 710 S. SANTA ANITA AVE. g100e TELEPHONES 44e.4471 . 681..0276 446.7111 447.2121 446.2128 '-""7...............'-"'--"<..<J . ;;r - , --~r~ . A~ TO 1012-1 F C Colifornio land Title Auociation Stondard Coverage Policy Form Copyright 1963 POLICY OF TITLE INSURANCE ISSUED BY Title Insurance and Trust Company Title 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 parries named as Insured in Schedule A, the heirs, devisees, personal representatives of such Insured, or if a corporation, its successors by 4issolucion, merger or consolidation, against loss 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: . . .. .,,-----.> - 1. Any defect in 6r lien or encumbrance .un the title to" the .~state or interest [Overed hereby in' the land described or referred to in Schedult- C. l:xisting at the date hereof, not shown or referred to in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulatiolls; or 2, Unmarketability 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 the lien or charge of said mortgage upon the estate or interest referred to in this policy; or .t. Priority over said mongage, at the date hereof, of any lien or encumbrance not shown or referred to in Schedule B, or excluded from coverage in the Cunditions and Stipulations, said m'octgage being shown in Schedule B in the order of its priority; ~ all subJ'ect, howe\~er~b'-'f~'\:p\),\"jsions of Schedules A, Band C and to the Conditions and Stipulations ...-- E ""\ hereto annel\eg~ "-~(', AND rl?(; III - ~r 0000000 0->. I ;:-" oo~~ IS PI/ODD.' II ,:; ~ oo-?:>o (I~nll. .,......0_ ^ ) . . ::t ~ OO~ ~q.~"f.{JJ/.F.B{l1~,,-"WI('r!n~ss~W/)ereof, Title Insurance and Trust Company has caused Its I;t! '" 0 ~ Il- ';..',~ .,(\ 0 .... hd . ... I. ~ 1.41 o:..~ c9rp.oratel name an seal to be hereunto affixed by Its duly authorJzed of leers ~ -.J g~.d\ _o'n'iilitcht:sh~t?n Schedule A. ~ '= g-_~ 6..c -j~~' "g Z ~ r, l-. /i(:;lr6L-- II ยท ~ % ~ 0". ~~~'" JI ~:~ ::; ~ ~ ..-:s." ~-'- " ' . !<,Q.. >} ::: I) . ~,,-~_g,;; ,- d~ 0 ~ Title Insurance and Trust Company '1'1 <'Ooo~~':.4;;\S-G\lJ';oo ~ 'ff ~ /: II 0- 00000000 "i-v,:- \1\\\4NGELES' ~ ~..: by \\\\\"'~~ - " ~ ~RESlDEN1 Allest CJLu /fj-~ SECRETARY CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS . The following terms when used "in this policy mean: (a) "land": the land described, speciflc- ally or by reference,. in "Schedule C and improvements affixed thereto which by..law constitute real property; (b) "public records'.: those records which impart constructive notice of matters relating to said land; (e) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to the Insured by reason of any public records; (d) "dace": the effective date; (e) "mortgage": mortgage, deed of trust. trust deed, or other security instrument; and (f) "insured": the party or parties named as Insured, and if the owner of the in- debtedness secured by a mortgage shown in Schedule B is' named as. an Insu'red 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 foreclosure, trustee's sale, or other legal manner in satisfaction of said indebtedness, and (3) any federal agency or instrumentality which is an in- surer or guarantor under an insurance con- tract or guaranty insuring or guaranteeing said indebtedness, Of' .any part thereof, whether named as an insured herein or not, subject otherwise '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 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 guarantee- ing the indebtedness secured by a mortgage covered by this policy, or any part thereof, this policy shall continue in force in favor of such Insured, agency or instrumentality, subject to all of the conditions and stipula- tions hereof. 3, EXCLUSIONS FROM THE COVERAGE OF THIS POLICY This policy does not insure against loss or damage by reasons of the following: (a) Any law, ordinance or governmental regulation (including but not limited 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 <lny improvement now or hereafter erected on said land, or prohibiting a separation in ownership or a reduction in (he dimensions Of area of any lor or parcel of land. (b) Governmental rights of police power Of eminent domain unless notice of the exercise of such rights appears in the public re(Ords at the date hereof. (c) Title to any property beyond the 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 ri,l::ht to maintain rhertin vaults, tunnels. ramps or any other structure or improvement; or any rights Of easements therein unless this policy specific. ally provides that .mch property, rights or easements are insured, except that if the land abuts upon one or more, ph}'sically open Streets or highways this policy insures the ordinary righrs of ablltling owners for access to one of such streets or hi~hways, unless otherwise excepted or excluded herein, (d) Defects, liens, encumbrances. ad\'crse claims against [he title as insured or other matters (1) created, suffered, assumed or agreed to by the Insured claiming loss or damage; or (2) known to the Insured Claimant either at the date of this policy or at the date such Insured Claimant ac, quired an estate or interest insured by this policy and not shown by [he pub] ic records, unless disclosure thereof in writing by the Insured shall have been made to the Com- pany prior to the date of this policy; or (3) resulting in no loss to the Insured Claim- ant; 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 encumbrancer for value with. out knowledge, 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 (I) for the defense of the Insured in all litigation consisting of actions or proceedings com- menced against the Insured. or detenses. restraining orders, or injunctions interposed against a foreclosure or salt' of the mort- gage and indebtedness covered by this policy or a sale of the estate or interest in said land; or (2) for such action as may be appropriate to establish the title of the estate or interest or the lien of the mon- gage as insured, which litigation or action in any of such events is founded upon an alleged defect, lien or encumbrance in- sured against by this policy. and may pur. sue any litigation to final determination in the court of last reson, (b) In case any such action or proceed- ing shall be begun, or defense interposed, or in case knowledge shall come to the In- sured of any claim of title or interest which is adverse to the title of the estate {lr in. terest 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 polity, or if the Insured shall in good faith contract to sell [he in- debtedness secured by a mun~a~e co\'ered by this policy. or, if an Insured in ,good faith leases or contracts to se]1. lease or mortgage the same, or if the successful bidder at a foreclosure sale undL'r a mort- gage covered by this policy refuses to pur- chase and in any such event the title to said estate or interest is rejected as un- marketable. the Insured shall notify the Company thereof in writing. If such r.GIlcl' shall not be given to the Company within ten days of the receipt of prucess lIr pleaJ- ings or if the Insured shall not. in writinF:, promptly notify the Comp.lOY of any de- fect, lien or encumbrance insured ag:linst which shall come to the knowledge of the ImureJ, or if t11(' Insured shall not, in writing. promptly notify the Company of :lny such rejection by reason of claimed un- markt'tability of title, then all liability of thl: Company in regard to th(' subject matter of such aCtion, proceeding or matter shall ceast' ;Ind [erminate; provided, however. that f.1ihlr(' to notify shall in no case prejudice the claim of any Insured unless tht Company shall be actually prejudiced by such failure and then only tn the extent of such prejudice. (c) The Company shall have the right at its own COSt [0 ins[itute and prosecute ,lny 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 mort- gage as insured: and the Company may take any appropriate action under the terms of this policy whether or not it shall be li~lble thereunder and shall not thereby concede ]iability or waive any provision of this policy. (d) In all cases where this policy per. mits or requires the Company. ,to prosl:cute or provide {or tht, defense of any action or proceedin~, [he: Insured shall secure to it [he right to so prosecute or provide de- fense in such action or proceeding, and all appeals thert'in. and permit it to use, at its option, the name of rhl' I nsurt'd for such purpose:, Whenl'vt'r requested by the Com- pany the Insured shall givl' the Company all rt'asonablc aid in any such action or pwcceding, in effeCting ,~e[tlt'ment, securing evidence, obtainin,l:: witnesses, or prosecu. tin,o;: IIr' defenJing such action or proceed- ing, and the Company sh:lll reimburst, the Insured for any l'xpense so incurred, S. NOTICE OF LOSS - LIMITATION OF ACTION In addition to thl' notict.s required under paragraph <1(h), a statement in writing of .tny loss or damage for which it is claimed the Company is liable under this policy shall he furnished to the Company within sixry Jays after such loss or damage shall have been determined, and no right of action shall accrue to the Insured under this policy until thirty days after such statement shall h.lve been furnished. and no recovery shall be had b~. the Insured under this policy unlt'SS action shall be commenced thereon within fivt' year.~ after expiration of said thirty Jar period, Failure {(J furnish such statement 0 loss or dama,ce. or to commence such action within the time hereinbefore specified. shall be a con- c1usi\'t, har .tgainst maintenance by tilt. In- sur,eJ IIf any action under this pulil'~'. 6, OPTION TO PAY, SETTLE OR COMPRO- MISE CLAIMS Thl' Company shall have the option to payor sdtle or compromise for or in tht, n;lInt' of the Insured any cl;tim imured ~lgaill.;t or to pay the full amount of thi~ pulicy, or. in case loss is claimed llmkr thj~ pol ilY by the owner of the inlk.btedne~~ sectlrt'd hy a mort~pge (Ovt'r<;d hy [his poli(~', the Company shall have the llPtinn to purchase said indebtedness; such pur- Ch;,Sl'. payment or tender of payment of (Conditions and Stipulations Continued and Concluded on Last Page of This Policy) - , TO 1012.1 AS C California Land Title AlSoc1otlon Standard Coverage Polic:y-1963 SCHEDULE A Premium $~6.0 ~ Amount $ 2,000 .00 Effective Date March 18,1968 at 8 a.m. Polic)' No. 6725956 INSURED CITY OF ARCADIA, a municipal corporation. 1. Title to the estate or interest covered by this policy at the date h~reof is vested Ill: . CITY OF ARCADIA, a municipal corporation, '. 2. The estate or interest in the land described or referred to III Schedule C covered by this policy is a fee. SCHEDULE B This policy does not insure ag~inst loss or damage by' reason ~f th.e folloWing: . ~'. PART I 1. Taxes or assessments which are not shown as' existing liens by the records of any taxing authority that levies taxes or assessments on real p,roperlY 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 au inspection of said land or by making inquiry of persons in possession thereof. 3. Eas'ements, claims of easement or encumbrances which are not shown by the public records. 40. 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. Unplltented mining claims; reservations or exceptions in patents or in Acts authorizing the ISSllance thereof; water rights, claims or title to water. ID - TO ,012.18 Cont. C . Cal1fc)rnJa land Title A"oc!otlon Standard Conta,,_ Pollc;y-1 '163 S C H E D U L E B - (Continued) PART II 1. General and special county and city taxes for the fiscal year 1968-1969, a lien not yet payable. 2. Covenants, Executed By Recorded conditions and restrictions in the deed Peter L. Cuccia and wife, prior to February 15, 1950 in bOOK 830 page 343, Official Records conditions and restrictions in the deed Rudolph H.SchwarzKopf and wife prior to February 15, 1950 in book 2138 page 326, Official Records 3. Covenants, Executed By Recorded - ~ ."> , TO IOI2-l-1056-1C C Am.rkan L-aod Title Anodotlon loon Policy Additional Coverog&- 1962 0' California land ntle Association Standard (overage Policy-1963 SCHEDULE C The land referred to in this policy is situated in the county of Los Angeles, state of California, and is described as follows: The westerly 17.00 feet of Lot 40 of Tract No. 4869, in the city of Arcadia, county of Los Angeles, state of California, as per map recorded in bOOK 52 page 13 of Maps, in the office Qf the county recorder of said county. EXCEPr therefrom that portion of said land ~ncluded within the north 104.00 feet of said Lot 40. , . TO'''' C /I,,"" oro 236 VC I.=~) ,~ f........ '1..-.; ..,'...... ~ ,,~' LOTS 1 AND 2, 38 TO 41 OF TRACT NO. 4869 r~ ;.E#10N AVE .t.511(U/ AVE GT~ID This is not a survey 0 thg land but is compiled for information by the Tifle Insurance and Trus ~om any from data shown by the official records. CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) the full amount of this policy, together with aU 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 Com. pany by the Insured, the Company offers to purchase said indebtedness, the owner of such indebtedness sha[1 transfer and assign ,~aid indebtedness and the mortgage securing the same to the- Company upon payment of the purchase price. 1. PAYMENT OF lOSS (a) The liability of the CDmpany under this policy shall in 00 case exceed. in a[1. the actual loss of the 1 nsured 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 pDlicy. ;111 COSts impo5'ed upon the Insured in liti- gation carried on by the Company for the Insured, and all costs and attorneys' fees in litigation carried on by the Insured with the written authorizatiDn 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 alleged defect, lien or encumbrance not excepted or excluded herein remove,~ 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 eyent the tide is rejected as unmarketable because (if a defect, lien or encumbrance not excepted or excluded in this policy, until there has been a final determination by a court of competent juris- diction sustaining such rejection. (d) All payments under this policy, ex- cept paymems made for costs, attorneys. fees and expenses, shall reduce the afl)oun! of the insurance pro tanto and no payment shall be made without producing this policy for e'ndorsement of 'such payment unless the policy be lost or destroyed, in \I.'hich case proof of such loss or destruction shall be furnished tu the satisfaction of the Com. pany; provided, however, if the owner of an indebtedness secured by :l mongagt: shown in Schedule B is an Insurl'd herein thc:n such payments shall not reduce pro tanto the amount of the insurance afforded hereunder as [0 such Insured, eXCept to tIlt' extent that such payments reduce the amount of the indebtedness secured by such mort- Rage. Payment in full by any person or voluntary satisfanion or release by the In- sured of a mortgage covered by this po [icy shall terminate :111 liability of the Company [0 the insured owner Df the indebtedness secured by such mortgage, except as pro- vided io paragraph 2 hereof. (e) When liability has been definitely fixed in accordance with the conditions of this policy the loss or damage shaH 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 rhe validity or priority of any mortgage shown or referred to in Schedule B hereof or any mortgage herc.-- after executed by the Insurt'd which is a charge or lien on the estate or intere.~t described or referred ro in Schedule A. and the amount so paid shall be deemed a par- mcnt to the Insured under this policy. The provisions of this paragraph numbered R . shaH nut apply to an lnsur~d ownt>r of an indebtedness secured by a mortgage shown in Schedule B unless such Insured acquires tide to said estate or interest in sati~faction of said indebtedness or any part thereof. 9. SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company shall have senleJ a claim under this policy, all right of sub- ro~ation shall vest in the Company un- affected by any act of the Insured, aod it shaH 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 [DSS of the Insured, the Company shall be subrogated to such rights and remedies in the proportion which said pay- ment hears to the amount of said loss. If loss should result from ;10\' a([ of tht, In- sured. such act shall not void this pnliq. but the Coml'anr. in that e.....t.nt. Sh;lll bt" rt'quired [0 p:ty only that parr of any losst's insurt.d a~ainst Iwrt:undt.r whidl shall ex. n:-ed tht' 'amount. if any, lost t{l the Com. pany hy rt:ason of tht" impairment of tht. right of suhrogati(ln. Tilt, Insured, if re- questt'd oy the Compan}', .~hall transfer to the Company al[ rights and remeJit.s against any person or prnperty nefessary in mdt-'r to pt:rfect SUt'h right of subrogation, and shall permit the Company to use tilt. name of the Insured in 'M\Y \ransactinn {\\" litigation inv(llvin~ such rights or rt'lllt"dics. If tht, Insured is the owner of tbe.' in- deot\:dness secured by a mnrt~a~e cnverL~1 oy this policy, such Imured may release or substitute tht. personal liability of any debtor or guarantor, or n:tend or otherwise lllodify the terms of payment. or rdeasl' a portion of the estate or interest from the lien of the mortga~e, or rell'ase any col. lateral se(urity for {he indt'htednes~_ pro. vided such act dot.s not re.~uh in any loss of prioriry of the lien of the llwrrga,(:e. 10. POLICY ENTIRE: CONTRACT Any action or actions or rights of action that the Insured may have or may hrill~ against the Company arisin}.: out of tht. statu.~ of the' lien of the mort}.:a}.:e covered hy this policy or the title of the e~t;\tc t)[ interest insured herein !llllSt he ha:-ed on the provisi()n.~ of this po[ ky. No provision m condition (If this policy (;tn h.,. waived or changed l'xcept by writinJ.: t'ndor~eJ hert.'on or attachl:d hl-reto signed hy the President. a Vic!:: President, [he SeCl"et:lry, an Assistant Se..cretary or uther valid,lting officl'r of the Comp:IOY. 11. NOTICES, WHERE SENt All notices requirl:d to he J.:ivl:n rhe Com- pany and any statement in \\.'ritin~ rt'quired to he furnished the- Company Shilll be ;ltl- dressed to it at the office which issucd this policy or ,w its Home Office. 433 South Sp1"in~ Sm:ct, Los An~dcs ~4. California. 12. THE PREMIUM SPECIFIED IN SCHEDULE A IS THE E.NTlRE CHARGE FOR TITlE SEARCH, TITLE EXAMINATION AND TITLE INSURANCE. @ Title Insurance and Trust Company FOUNDED IN ,8ua POLICY OF TITLE INSURANCE Offering complete title services throughout the state of California with just one local call. Complete title services also available in the states of Alaska, Nevada, Oregon and Washington through subsidiary Compan.ies. Title Insurance and Trust Company Home Office 433 South Spring Street La, Angeles 54, California ..