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Home My WebLink AboutD-1607 ~K 03954 rG 385 'l~ This is to certify that the interest in real property conveyed or transferred to the City of Arc,adia" a municipal corporation, by the deed, grant, conveyance t' or ins trument dated March 20, 1968 , from or executed by Dora H Crabtree , is hereby accepted; by the City oLArcadia 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 ,,~'"~:~L ~M~ . Ci ty Manager City Engineer (''.The document thus described is hereby approved as t;; fonn. <~~~ CERTIFICATE OF ACCEPTANCE .' ~, en, o ~ (..Ill ,~ECORDING 'REQUESTED BY ,,\,. . -" 604 [,'-" C!-~' / ~~ 03954 rG 384 ,- CITY OF ARCADIA ,/ RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY CALIF FOR TITLE INSURANCE & TRUST CO, MAR 29 1968 AT 8 A.M, RA'( f. LEE, County Recorder. , / AND WHEN ItECORDI:D JoIIA'L ;TO /r- NgIII. City Clerk P.O. Box 60 I SIr..' Addr.u City & Arcadia, Calif. Sta'eL -.l r- Na",. City of Arcadia I SPACE ABOVE THIR$1';5~(""\~ RECORDr~~;C' ~ I .....AIt TAX STATEMEMTS TO City" S'aleL ~ 9 1989 Street AddrelJ Grant Deed .fJTS AFFIX +:It:S, $, ...I...{.,,!E.. , _____n. ABOVE TO 405 C (..1571 THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION. receipt of which is hereby acknowledged. JlJII""Kr~'l'IIIlR,>uud DORA H. CRABTREE Jre8GCNT(~) '0 the CITY OF ARCADIA, a Municipal Corporation, II'I,Fcc , - '~8R 8889m8Rt for public street and road purposes, to become a part of and to be known as Baldwin Avenue, in, on, upon and across the following described real property in the City of Arcadia, County of Los Angeles , ~tate of Cafir~iiia: That portion of the south 50 feet of the north 100 feet of the east 100 feet of Lot 1 in Block "0" of Santa Anita Land Co's Tract, in the County of Los Angeles, State of California, as per map recorded in Book 6, Page 13 7 of Maps, in the office of the County Recorder of said Ceunty included within the following described lines. Beginning at the northeast corner of said lot; thence westerly along the northerly line of said lot to the beginning of a tangent curve, concave southwesterly having a radius of 15.00 feet: said curve being tangent southerly to the westerly line of the easterly 17.00 feet of said lot; thence southeasterly along said curve to said westerly line: thence southerly along said westerly line a distance of 50.00 feet; thence southerly in a direct line to the point of intersection of the westerly line of the easterly 12.00 feet of said lot with a line drawn at right angles through a point in the westerly line of said easterly 17.00 feet of said lot and distant southerly along said line 175.00 feet from the southerly terminus of said curve: thence southerly along the westerly line of said easterly 12.00 feet to the southerly line of said lot: thence easterly along said southerly line to the easterly line of said lot: thence northerly along said easterly line to the point of beginning. Iii! ,I, (I '" -, ~\, ;: Cl '..... I..!J .. '" U 0:: !.JJ ~ :r. ~ U, Dated /l(~ <RcJ r'Tt:, If , ~~~e~, z o ;:: (' 0.; r2 u '" ... q . , STATE OF CALIFORNIA } COUNTY OF LOS ANGELES SS, ~ On Ma rc h ?O I 1 9hR before me, the under- signed, a Notary Public in and for said State, personally appeared ~Dora H. Crabtree to be the perso~whose nampS are instrument and acknowledged that thp-y WITNESS my hand and official seal. ,- Sign"ure~.el-1.e.~ C ,)c. . known to me subscribed to the within executed the same. ~'@);:'''.' . . " , , , .. OFFICIAL SEAL FLORENCE E. NEERGARD NOTARY PUBLIC, CALIfORNIA LOS ANGELES COUNTY MyCommiSlionExplresMlr.4,1972 p, 0, BM 60, madia, Calif. OJ o ~ ',\ () Name (Typed or Printed) (ThiB al'l'a 1'01' "nIdal Jl"lllrltll ~elll) Title Order No, Escrow or Loan No. ~ --- MAIL TAX STATEMENTS AS DIRECTED ABOVE ----~ r. ~. , (., / ,../' " 7 GRANT DEED , ( . GRANT D'EED Title Insurance, and Trust Company Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL .COM~LETE STATEWIDE 'TITLE SERVICE WITH ONE LOCAL CALL . -.... '. ..."'r->.. .. 8 .- .-" (. "' .'- " _.. . . . . . . , ' . , ,.MARK H. BLOODGOOD AUDITOR.CONTROLLER " COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL. OF ADMINISTRATION LOS ANGELES. CALIFORNIA 90012 525-36 I 1 March 27, 1969 Ci ty of Arcadia 240 West Huntington Arcadia, California Drive 91006 Attention: Robert D. Ogle City Attorney Re: Baldwin Avenue Parcel No. 70 Gentlemen: Pursuant to YOUI' letter dated May 9, 1968, taxes have been cancelled in acc".rdance with Section 4986 "f the Revenue and Taxa,tiC'n C'Jde. This cancel- lation was ordered by the Honorable Board of S'J.per'- visors Oct. 29, 1968 by Authr,rizat:,l'n No. 06337. Ve>::y truly yours, MARK H B~J DGvOD Auditor-Contr,.,ller ~u::".~ , D:J J. R. Passarella, Chief Tax Division JRP/ENP/ejrJ. A/-1'6d 7 ROBERT A. GIL.L CHIEF DEPUTY J. R. PASSARELLA, CH1EI'". TAX DIVISION RECEiVED APR - 2 1969 .CITY OF ARCADIA .CITY A.TTORNEY '. (" ~) CITY COUNCIL DON W. HAGE MAYOR City of Arcadia C. ROsfRT ARTH MAYOR PRO TEM EDWARD L. EJUTrERWORTH 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. 70 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 Ene. ~ MAILING AODRE~5ES CITY HALL P. Q. BOX eo g1006 LIBRARY 20 W. DUARTE ROAD 910015 POl-ICE DEPARTMENT P. O. BOX eo 910015 FIRE DEPARTMENT 7105. SANTA ANITA AVE. 910015 TELEPHONES 4415.4-471 . 681-02715 44e.?1" 447-2121 4415.2128 ~)i~ ~~v..... 10 TO 1012-1 Fe (10.67) Colifornio land Title Anodotion Standard Co....roge 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 qissolurion, merger or consolidation, against loss or damage nOt exceeding the amount stated in Schedule A, rogethee 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 or lien or encumbrance on the title to the estate or interest covered hereby in tht, land described or referred to in Schedule C, existing at lhe date hereof, not shown or reft'rred to in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulations; or 2, UnmarketabililY 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 {Q in this' policy; or ..I. Priority over said mortgage, at the date hereof, of any lien or encumbrance not shown or referred to in Schedule B, or excluded from coverage in the Conditions and Stipulations, said ffi"ortgage being shown in Schedule B in the order of its priority; all subject, however;,Th't~"))~~iSions of Schedules A, Band C and to the Conditions and Stipulations' hereto .nnex>.i~~CE ANO IJil;~\\\\1 ~ ^ ~ 00000000 v,so \ I ':.::;,"" oo"'~ \S PF?oooo l' I; ::r eo: oOv:-O 9. fl ~ ,....., 0 r\ ~ jf ~ oo~ q.~~"t1JIlE:l!!~lJ71~n~sS<.JPirereofl Title Insurance and Trust Company has caused its ~ ,,,:": 00 ~ >!to)> dcolJ~6rat~8arn-g.a~"d seal to be hereunto affixed by its duly authorized officers ~ .... o~_~ b '''''d' 0 "'" r,' d ~ -.J gG- -~~~~~~p;tq!_~1:.fgopn,n Sche ule A. ~ !:: 0-:;"." ~-<:'.C;"")Y)"" 0 z ~ r~ I- 0 """LlL..-,~~,,'h~ 0 ~ % rJ 0 "~~'}h",,>""J'.~,'li' 'I,"','};"'o ~ ~ 0,)< ':i\'I;:.,.... '''f <:> 0 ~ ~ -\1 O-S-~\,::-,:i:<, tJ;. ~li<~'voo 1} j:: 'j 0" ,'.," ''"'. ' ^v 0 .~ f. 0 ~ '-_'--"'- .......0 ;- "I <'0 oo~rATE IS G\looO ~ '..::;' ~ll ~ -4 00000000 C~'v E \~\\ ^'GELES. .$" \\\\\'\'\.'\.,"'~ Title Insurance and Trust Company by ~~~~NT Aile" ~ /fr~ . SECRETARY CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "land": [he land described. s\Jecific- ally or by rderence, in Schedule C and improvements affixed [hereto which by law constitute real propercy; (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 effective date; (e) "mortgage": mortgage, deed of trust, tcust deed, or other security instrument; and (f) "insured": the party or parties named as Insured, and if the owner of (he in- debtedness 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 foreclosure, truSte(:'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, or any part [hereof, whether named as an insured herein or not subject otherwise to the provisions hereot: 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, lrustee'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 (he indebtedness secured by a mortgage co,,'ered by this policy, or any part [hereof, 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 nor insure against loss or damage by reasons of the following: (a) Any law, ordinance or governmental regulation (including but nor limited (Q hui]ding and zoning ordinances) restriCting or regula~ing or prohibiting the on:upancy, use or enjoyment of the land, or regulating the character, dimensions, or location of any improvement now or hereafrer erected on said land, or prohibiting a separation in ownership or a reduction in the dimensions or area of any lor or parcel of land. (b) Governmental rights of police power or eminent domain unless notice of the cxerci.~e of such rights appears in the public records at the date hereof. (c) Tide to any property beyond rhe lines of the land expressly described in Schedule C, or title to streers, roads ave- nues, lanes, ways or waterways Of} ~hich such land abuts, or the right to maintain therein vaults, tunnels, ramps or an}' other structure or improvement; or any rights or easements therein unless this policy specifiC. ally provides [hat such property. rights or easements are insured, except that if the land abuts upon one or more physically open streets or highways this policy insures the ordinary rights of abutting owners for access to one of such streets or highways, unless otherwise excepted or excluded herein. (d) Defects, liens, encumbranct"s, adverse claims against rhe title as insured or other matters (1) created, suffered, assumed or agreed to by the Insured claiming ]05S or damage; or (2) known (0 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 the public records. unless disclosure thereof in writin~ hy the Insured shall have been made to the Com- pany prior to the date of this policy: or (3) resulting in no loss (0 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 (1) for the defense of the Insured in all lirigation consisring of acrions or proceedings com- menced against the Insured. or defenses, resrraining orders, or injunctions interposed against a foreclosure or sale 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 mort- 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 resort. (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 tide or interest which is adverse to rhe ritle of the estate or in- terest or lien of. the mortgage as insured, or which might cause loss or damage for which the Comp'any shall or may be liable by virtue of this policy, or if the Insured shall in good faith contract to sell the in- debtedness secured br a mortgage covered by this policy. or, i an Insured in good faith leases or contracts to sell, lease or mortgage (he same, or if the successful bidder at a foreclosure sale under 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, (he Insured shall notify the Company thereof in writing. If such notice shall not be given to the Company within ten days of the receipt of process or plead- ings or if the Insured shall not, in writing, promptly notify the Company of any de-- fect. lien or encumbrance insured a,gainst which shall come to the knowledge of the Insured, or if the Insured shall nor. in writing. promptly notify the Company of any such rejection by reason of claimed un- marketability of title, then all liability of the Company 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 claim 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 irs own cosr 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 mort- gage as insured; and rhe Company may take any appropriare action under the terms of this policy whether or not it shall be liable rhereunder and shall nor 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 action or proc~ding, the Insured shall secure [0 it (he right to so prosecute or provide de- fense 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 Com- pany the Insurerl shall give the Company all reasonable aid in any such action or proceeding. in effecring settlement, securing evidence, obtaining witnesses, or prosecu. ting or' defending such action or proceed- ing, and the Company shall reimburse (he Insured for any expense so incurred. S. NOTICE Of LOSS - LIMITATION OF ACTION In addition to the notices required under paragraph 4(b), a statement in writing 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 damage shall have been determined. and no right of action shaH accrue to the Insured under this policy until thirty days afrer such statement shall have been furnished, and no recovery shall be had by rhe Insured under rhis policy unless action shall be commenced thereon within five years after expiration of said rhirty day period. Failure to furnish such starement of loss or damage, or to commence such action within the time hereinbefore specified, shali be a con- clusive bar against maintenance by the In- sured of any acrion under this policy. 6. OPTION TO PAY, SETTLE OR COMPRO~ MISE CLAIMS The Company shall have the option to payor settle or compromise for or in (he name of the Insured any claim insured against or to pay the full amount of this policy, or, in case los's is claimed tinder this policy by rhe owner of the indebtednl's.~ secured by a mortgage covered by rhis policy, the Company shall have the option to purchase said indebtedness; such pur- ch[!se, payment or lender of payment of (Conditions and Stipulations Continued and Concluded on Lost Page of This Policy) .. mc '~ TO 1012.1 As C Colifc.rnio L.ond Tille Association Standard Cc,veroge Policy-1963 SCHEDULE A Premium $ 1./0.00 Amount $ 2,000.00 Effective Date March 29, 1968 at 8:00 a.m. INSURED Policy No, 6739765 CITY OF ARCADIA, a municipal corporation. 1. Title to the estate or interest covered by this policy at the date hereof is vested in: CITY OF ARCADIA, a municipal corporation. " 2, The estate or interest in the land described or referred to In Schedule t covered by this policy is a fee. SCHEDULE B This policy does not insure against loss or damage by reason of-the following: PART I 1. Taxes or assessments which are not shown as existing' liens by the records of any taxing authori:y 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. +. 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. 110 TO 1012-1B Cont. C Collfornla Land TUI. Anoelotlon Standord CO....rag. Policy-1963 ~ SCHEDULE B- (Continued) PART II 1. General and special county and city taxes for the fiscal year 1968-1969, a lien not yet payable. 2. An easement affecting all of said land for the purposes stated herein, and incidental purposes In Favor of Santa Anita Land Company For pipe line Recorded : prior to February 15, 1950 in book 2516 page 206, of Deeds 3. Covenant, conditIDns and restrictions in the above mentioned deed. 4. Covenants, Executed by conditions ind restrictions in the deed John Dwight Logsdon and Helen B. Logsdon" husband and wife, : prior to February 15, 1950, in book 24489 page 246, Official Records ,Recorded 5. Th~,following provision of the deed from Dora H. Crabtree to theCity of Arcadia, a municipal corporation, recorded March 29, 1968: "Grants to the City of Arcadia, a municipal corporation, in fee for public street and road purr.oses, to become a part of and ,to be known as Baldwin Avenue. ' , . .' . ,e -:. ~ cv "'" TO l012-1-1056-1C C American land Title Association loan Polley Additional Coverage-1962 California la~d Title A~!ociation . Standard Coverage PoJiq-1963 SCHEDULE C The land referred to in this policy is situated in the county of Los Angeles, state of Califomia, and is described as follows, That portion of the south 50 feet of the north 100 feet of the east 100 feet of lot 1 iri Block "0" of Santa Anita Land Co/s Tract, in the county of Los Angeles, state of California,' as pe~ map recorded in book 6 page 137 of Maps, in the office of the county recorder of said county included within the following described lines:, Beginning at,the northeast corner of said lot; thence westerly along the northerly line of said lot' to the beginning of a tangent cu~ve, concave southwesterly having a radius of 15.00 feet; said curve being tangent southerly to the westerly line of the easterly 17.00 feet of said 'lot, thence southeasterly along said cu~ve to said westerly line;', thence southerly alopg said weste~ly line a distance of.50.00 feet, thence southerly in a direct line to the point of intersection of the westerly line of the easterly 12.00 feet of said lot with a line drawn at right angles through a point in the westerly line of said easterly 17.00 feet of said lot and distant southerly along said line 175.00 feet from the southerly terminus of said curve; thence southerly along the westerly line of said easterly 12.00 feet to the southerly line of said lot, thence easterly along said southerly line to the easterly line of said lot; thence northerly along said easterly line to the point of beginning. . TOTSa83'Va: ~ PORTION OF LOT 1 IN BLOCK 0 OF THE SANTA ANITA LAND COMPANY'S :TERCT ~ ~~ \~\ 1___ L Dll (; f),IE J I I 1, j ~~ ,\ 55 J""" .1&'7'"" ... ,..,.......,..,.......,... \ _ (.'..'.~~,......,..,....': 'WJ. ~ .......:. C~.% \-~\ ~ . ,'.,"+'" E;;" D 'l\ ~, ' ..-):::=J.... I. / ':'T~ \ "L.i J ~ /'1\/ ~s ~ -~ .~ 't'i..... ~/OO ~\ ,,' /:'~:'f!/ ";;i:;~~~~ ~ '" of ~\'\if~7~ re~~.~1t\ ~ \ ,~\t\ \ -\iI, \ -yto \ \ \ \ \ \ , \ \ \ \ \ GT~ID This is not a survey of the land ut is compiled for in ion by the Title Insurance and Trust Company f. m n by the offic I records. CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) the full amount of -this poliq, together with all costs, attorneys' fees and expenses ",-hich the Company is obligated hereunder t() pay, shall terminate all liability of the Company hereunder. In the event, after notice of claim has been given co the Com- pany by the Insured, the Company offers. to purct-lase said indebtedness, the owner of such indebtedness shall transfer and assign said indebtedness and the mortg;'lge securing the same to the Company upon payment of the purchase price. 7. PA Y~ENT OF LOSS (a) 'fhe liability of the Company under this policy shall in no case exceed, in aiL the accual loss of the Insured and costs and .ltearneyS' 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 cosc~ imposed 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 wriHen authorization of the Company. (c) No claim for damages shall arise or be mairuainable under this policy (I) if the Company, after having received notice of an 3.lIeged 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 InS\lred in settling any claim or suit without written consent of the Company, or (3) in the event the tide is rejected as unmarketable because of a defect, lien or encumbfance not excepted or excluded in this policy, until there has been a final determioacion by a courr of competent juris- diction sustaining such rejection. (d) All payments under this policy, ex- cept payments made for COStS, attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto and no payment shaH be made without producing this policy for endorsement of such payment 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 such payments shall not reduce pro tanto the amount of the insurance afforded hereunder as to such Insured, except to the extent that such payments reduce the amount of the indebtedness secured by such mort- gage. Payment in fuJl by any person or voluntary satisfaction or release by the In- sured of a mortgage covered by this policy shaH 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 described or referred to in Schedule A. and the amount so paid shall be deemed a pay- ment to the Insured under this policy. 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 interest in satisfaction of said indebtedness or any part thereof. 9, SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company shall have sectled a claim under this policy, all right of sub- rogation 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 remedies in the proportion which said pay- ment bears to the amount of said loss. If @ loss should resule from any aCt of the In- sured, such ace 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 ex- ceed the amount, if any, lost to the Com- pany by reason of the impairment of the right of subrogation. The Insured, if re- quested by the Company, shall transfer to the Company all rights and remedies against any person or property necessary in ordt:r to perfect such righc of subrogation, and shall permit the Company to use the name of the Insured in any transaction or litigation involving such rights or remedies. If the Insured is the owner of the in* debtedness secured by a mortgage covered by thi5 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 portion of the estate or incerest 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. 10, POLICY ENTIRE CONTRACT Any action or actions or rights of action chat the Insured may have or may bring against the Company arising out of the status of the Ii.en 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 t"ndotsed hereon or attached hereto signed by the President, a Vice President, the Secretary, an Assistant Secretary or other validating officer ?f the Company. 11. NOllCES, WHERE SENT All notices required to be given rhe Com- pany and any statement in writin,l; required to be furnished the Company shall be ad- dressed to it at the office which issued this policy or (0 its Home Office, 433 South Spring Street, Los Angeles 54, California. 12. THE PREMIUM SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE fOR nTLE SEARCH, TITLE EXAMINATION AND TITLE INSURANCE. Title Insurance and Trust Company FOUNDEO IN ,,,g3 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 Companies. Title Insurance and Trust Company 433 SDulh Spring SIred Los Angeles, California 90054 -