The URL can be used to link to this page

Home My WebLink AboutD-1608 UD3954PG387 CERTIFICATE OF ACCEPTANCE .' r 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 March 20. 1968 , from or executed by Elizabeth M, Swift , 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 authorized ,officers. , l!l.' ~ o CJ1 ~ ~/tk~? ~ City 'Engineer ~, I o,C", "'C'""("' ,. '.no. . '"'- ~~ The document thus J 'RECORDING, ,REQUESTED BY '...} chY OFARCADrA 605 -~, ~~ U3954 rG 386 /6 (.;J! I' Ho"" City Clerk Str_t P.O. Box 60 Addr'lI City & Arcadia, Calif. Stol' L I - I1~CORDEI) IN OFFICIAL RE:CQRDo o~ L?S !,UGElES COUNTY, C....\UF~ FO" T!TLl:. INSURi\NCE & TRUST co. MAR 29 1968 AT 8 A.M, RAY. E, LEE, County Recorder. ~_... .----. AND WHEN RECORDED MArL TO -.l SPACE ABOVE THIS LINE ~OR ~ECORDER'S USE MAIL tAl SlAT~M~NTS TO I' City of Arcadia I I FREE-Z. /' G I No"" Stre,t Addreu City" Slot'L --1 Grant Deed Drs AFFIX +.-Ie5, s3:,'u,z,() ___00___ ABOVE TO ",,05 C (4.671 THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is K"KKK"~ ELIZABETH M. SWIFT FREE RECORDING REQUESTE hereby acknowledged, ESSENTIAL TO ACQUISITIO The City of Arcadia' S 'Gov ode 1 3 BY ,))ereby GRANf(3) to the CITY OF ARCADIA, a Municipal Corporation, . >11'_ /N Fee , C(~ aM eSBeffiBHt for pub11c street and road purposes, to become a part of and to be known as Baldwin Avenue, in, on, upon ana across the following described real property in the City of Arcadia, County of Los Angeles " State of Califontia: That portion of the east 110 feet of the northerly 100 feet of the southerly 200 feet of Lot 1, in Block "0" of the Santa Anita Land Company's Tract, in the City of Arcadia, County of Los Anfteles, State of California, as per map recorded in Book 6, Page 137 of Maps, in the office of the County Recorder of said County, included within the following 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 Baid 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. i il '" I. "IU1 j '\ IHIS NECESSAR'i IN C~ O.E mL1 Dated ')')1lXA Q a, , cJ..O, (9 ~jI ( ,.. :;:, 0) Z Cl toJ I..,J t- '" ~ u Ct:: LJl 3: a z: o " STATE OF CALIFORNIA } COUNTY OF LOS ANGELES 55, On Ma rch 20. 1968 befoce me, the under, signed, a Notary Public in and for said State, personally appeared WMb>>YY~ Elizabeth M. Swift ~ l.za et . Wl. t !- " ~ " u" -, ~ ' U 'II .... "l to be the personA--whose name~ ;:arp instrument and acknowledged that t:h P.Y . known to me subscribed to the within executed the same. fe OFFICIAL SEAL FLORENCE E. NEERG"RD NOTARY PIlBUC ' CAlifORNIA lOS ANGELES f;OUNTY MyCOmm1sl1on Expiralllr, 4,1972 OJ o c.TI , , WITNESS my hand and official "aJ. , Q Signatuce yg~ c; 7 . p, 0, Bu &0, Arcadil. c.ln. \ Name (Typed or Printed) (This area for onlcial nOhri&lse&l) Title Order No, - .1 o-r- Escrow or Loan No. , MAIL TAX STATEMENTS AS DIRECTED ABOVE -j '\ 4' -..y " ",' t-- ., " :" .......:::; ". ". GRANT DEED ." " Title Insurance and Trust Company , " COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL GRANT DEED Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL '. J, ..... .' " .~ -'I.. . . . . , . , ' MARK H. BLOODGOOD AUDITOR.CONTROL.L-ER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 625~:3611 March 27, 1969 City of Arcadia 240 West Huntington Drive Arcadia', California 91006 Attention: Robert D. Ogle City Attorney He: Baldwin Avenue Parcel No. 71 Gentlemen: Pursuant to your letter dated May 9, 1968,- tax.os have been cancel12d in acc.,rdsJlce with Sectjon 4986 (.f the Revenue and Taxa+Cion C)de. This cancel- lation was ordered by the Honorable Board "f S'clper- visors Oct. 29, 1968 by Auth',rization No. 06338. Very truly ycurs, ~ffiRK H. BLOODGOOD, Auditor-Contr"ller ?j( &J' J. R. Passarella, Chief Tax Division JEPjEHP/ejd jJ_lbUJ ROBERT A. GILL CHIEF DEPUTY J. R. PASSARELLA, CHIEF. TAX DIVISION . RECEiVED APR - 2 1969 .CITY OF AReADI.., .CITY. AlTORNEY CITY COlJNCIL DON W. HAGE MAYOR City of Arcadia C. ROBERf ARTH MAYOR PRO TEIo4 EDWARD L. BU'fTERWORTH ROBERT J. CONSIDINE JA.MES R. HELMS. JR. -I 240 WEST HUNTINGTON DRIVE ARCADIA, CALIFORNIA LYMAN H. COZAD CITY r.4ANAGEA 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 Subjec t: Request for Cancellation of Taxes Baldwin Avenue Parcel No. 71 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, ~~ City Attorney RDO: jh Enc. ~ MAILING ADDRESSES CITY HALL P. O. BOX eo 91008 LIBRARY 20 W. DUARTE ROAD 91006 pOLlet:: DEPARTMENT P. O. BOX 60 91006 FIRE DEPARTMENT 710 S. SANTA ANITA AVE. 91008 TELEPHONES 448.4471 . 881-0278 448.7111 "'47-2121 448-2128 ~'~ 1J7, ~ if~ '(I / TO 1012-1 Fe (10-67) California lond Title Association Stcmdord 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 qissolurion, 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 Stipuh.aions 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 ttu: 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. 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 t:state or interest referred to in this poiicy; or 4. 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 m"ortgage being shown in Schedule B in the order of its priority; all "subject, hOW~!,~Th'1h'e'-))~~iSi9{l< of Schedules A, Band C and to the Conditions and Stipulations hereto annex,!!::-- ~CE AND "'~(j \\\1 ' ~ q.~ 000000000 ;$'" 'I - ~ oO",€,IS Pi/O 00 r I; ;;r ~ oo~O -a t:" 1'.....0 r') t ~ ~ oo~ y..q.~:tJUEil!ll}lf't!lie}sc.."Wfpereof, Title Insurance and Trust Company has caused its ~ .... 0 ~ . ^ ,,"',' '" 0 '" "d I b h ff' db' d I h' d ff' ;it1 l.AJ 0 J...;, Il' 1c(m~orate;name'an sea to e ereunto a lxe Y Its u y aut Orlze 0 lcers ?; ...,J g~'z:s..=;;:~,o;:i1l,1e'da'?e,~h~n~i;' Schedule A, r. I- 0 ,"" _','L.~o y ." ~ - 0 -:',0: ~"" '.....""""0 g 2: ~ ~ ~ \ f~,b~~))~)Ql -.: J 'b ~ o.y~ -:'f"ufDr",,'vo }} ~ (I 00.... ~ . ."-~Y]:... _.~- -,.q.. 00 ,.., "1 <'0 oo~"ATE IS "\)000 ~"5 II ;$' 00000000 \..~'V ~ ',,\\-4NGELES. .-::-~ \\\\'\'\.'\.,,""'~- Title Insurance and Trust Company by ~~~~NT Atteft CJLu. lif-~ " SECRETARY CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a)- "land": the land described, specific- ally or by rderence, in Schedule C and improvements affixed thereto which by law constitute real propeny; (b) "public records": those rccords 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) "dare": 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 mongage 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, 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 ~aid indebtedness, or 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 building and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions, or location of any improvement now or hereafter erected on said land, or prohibiting a separation in ownership or a reduction in the dimensions or area of any Jot or parcel of land. , (b) Governmental rights of police power or eminent domain unless notice of the l'xerci~e of such rights appears in the public rewrds 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 abut~, or the right to maintain therein vaults, tunnels. ramps or any other structure or improvemeor; or any rights or easements therein unless this policy specific- ally provides that such property. rights or easements are insured, except that if the land abuts upon one or more physically open streets or highways this policy insures the ordinary rights of aburting owners for access to one of stich streets or highways, unless otherwise excepted or excluded herein. (d) Defects, liens, encumbranc~s. adverse claims against the title as insured or other matters (I) created, suffered, a~sumed 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 the public records. unless disclosure thereof in writing by the Insured shall have been made to [he Com- pany prior to the date of this policy: Dr (3) resulting in no loss to the Insured Claim- ant; Dr (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 defenses, restraining 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 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 or in- terest or lien of the mortgage as insured, or which might 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 in- debtedness secured by a mortgage 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 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 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 wtiting, promptly norify the CompJ.ny of any de- fect. lien or encumbrance insured 8itainst which shall come to the knowledge of [he Insured. or if the Insured shall not, in writing, promptly notify the Company of any such rejection by reason of claimed un- marketability of tide, 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 rif!;ht at its own cost to institute and prosecute any action or proceeding or do any other act which in its opinion may be ne<essary or desirable to establish the tide of the estate or interest or the lien of the mort- gage as insured; and the Company may take any appropriate action undet the terms of this policy whether or not it shall be liable thereunder and shall nm 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 proceedinf!;, the Insured shall se<ure to it the right (() 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 rhe Insured for such purpose. Whenever requested by the Com- pany the 100urecl shall give the Company all reasonable aid in any such action or proceeding, in effeering settlement, securing evidence, obtaining witnesses, or prosecu- ting or" defending such action or proceed- ing, and the Company shall reimburse the Insured for any expense so incurred. 5, 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 shall accrue to the Insured under this policy until thirty days after such statement shall have been furnished, and no recovery shaH be had by the Insured under this policy unless action shall be commenced thereon within five years aher expiration of said thirty day period. Failure to furnish such statement of loss or damage, or to commence such acrion within the time hereinbefore specified, shall be a con- clusive bar against maintenance by the in- sured of any action under this policy. 6. OPTION TO PAY, SETTlE OR COMPRO- MISE CLAIMS The Company shall have rhe 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 thi~ policy by the owner of the indebtedness se<ured 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 (Conditions and Stipulations Continued and Concluded on Lost Page of This Policy) mc TO 1012.1 AS C California land Title Assoclotkln Standard Cowrogtt Policy-1963 SCHEDULE A Premium $ tit:> ,0'0 Amount $ 2, 000 .00 Effective Date March 29, 1958 at 8:00 a.m. INSURED Policy No, 6739764 CITY OF ARCADIA, a municipal corporation; I ' 1. Title to the estate or interest covered by this policy at the date hereof is vested m: CITY OF ARCADIA, a' municipal cc;>rporation. , 2, The estate or interest in the land described or referred to m Schedule C 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 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 hut which could be ascertained by an inspection o~ said land or by making inquiry of persons in possession thereof. 3. Easements, claims of easc~cnt or encumbrances which are not shown by ,the public records. 4. Discrepa:Qcies, 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. 6. Unpfltented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. . IIIl TO IOI2-1B'Conl. C . CoUfornla Land Till. Auaclatlon Standard Coverage pallc:y.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 stated herein, In Favor of For Recorded affecting all of,said land for the 9urposes and incidental purposes, Santa Anita Land Company pipe lines ' : prior to February 15, 1950 in book 2516 page 206 of Deeds 3. Covenants, conditions and restrictions in the ~bove recorded instrument. 4. An easem~nt affecting all of said land for the purposes , stated herein, and incidental purposes 'For ' : 'sanitary sewers , Recorded : March 28, 1955'in book 47315 page 69, Official Records' In Favor of : county of Los Angeles Affects : the southerly '5 feet 5. An easement over the southerly 20 feet of said land for street, roadway, installation of gas, electricity, water and othe r public utility purposes, as set forth in a declaration, executed by Harold E. Downing and Dorothy L. Downing, husband and wife, et al. recorded March 30, 1955 in book 42341 page 8, Official Records. Said declaration recites: No building of any kind shall be erected - upon any part or portion of said roadway. This easement is sup!'lrior and paramount to the rights of any of the parties hereto in their respective servient estates so created, and it is a covenant running with the la~d. ' 6. An easement purposes stated In Favor of For Recorded Affects 7. An easement purposes stated In Fa vor of For Recorded . affecting the portion of said 'land and for the herein, and incidental purposes, Southern Counties Gas Company of California, a corporation pipe lines April 28, 1955 in book 47622 page 206, Official Records the southerly 20 feet affecting the portion of said land and for the herein, and i~cidehtal purposes California-Michigan Land and Water Company water main May 18, 1955 in book 47818 page 133, Official Records. " Affects : within 5 feet of a center line, described as follows: Beginning in the s9utherly boundary at' a point 110 feet westerly of the easterly boundary thereof; thence northerly and parallel with the easterly boundary of the northerly boundary of said described property. Said pipeline and right of way shall also extend over and across said land within 2.5 feet of a center line described as follows: Beginning at a point 2.5 feet southerly of the northerly - boundary and 115 feet wes terly of the easterl:y~'bbUhda.ry thereof; thence westerly and parallel with the northerly boundary to the westerly boundary of said described prqperty, and also beginning at a point 2.5 feet northerly of the southerly boundary and 115 feet westerly of the easterly boundary; thence westerly and parallel with the southerly boundary, a distance of 42.5 feet, ) Said instrument, among other things, provides: It is agreed that no obstructions are to be put in the way of , free and ready access by Califom ia~Michimwn !Land and Water Company. 8. The following provision of the deed from Elizabeth M. Swift to the City 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 purposes, to ,become a part of and to be known as Baldwin Avenue." ,7",'"'_ ", . ......,..,... " \ . \. . CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) {he 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 Com- pany by the Insured, the Company offers to purchase said indebtedness, the owner of such indebtedness shall transfer and assign said indebtedness and the mortga~e s~curing the same to the Company upon payment of the purchase 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, ;l.1l costs impos-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 authorization of the Company. (c) No claim for damages shall arise or he maintainable under this policy (1) if the Company, after having received notice of an 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 tide is rejected as unmarketable because (if a defect lien or encumbrance not excepted or exc'Juded 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 payments made for COStS, attorneys' f~s and expenses, shall reduce the amoum of the insurance pro tanto and no payment shaH be made without producing this policy for endorsemem of such payment unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnished to the satisfaClion 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 full by any pe~on or voluntary satisfaction or release by the In- sured 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 pay- able within thirty days thereafter. B. LIABILITY NONCUMULATIVE . It is expressly understood that the amoum of this policy is reduced by any amoum the Company may pay under any policy insuring the validity or priority of any mortgage shown or referred (0 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 settled 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 (he 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 ro such rights and remedies in the proportion which said pay- ment bears to the amount of said loss, If loss should resuh frum any act of the In- sured. such act shall not void this policy. but the Company, in that event, shall be required w pay only that part of any losses insured a~ainst hereunder which shall ex- ceed the 'amount. if any, lost (0 the Coin~ 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 ord~r to p~rf('ct such right of subrogation, and shall permit the Company [0 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 this policy, such Insured may release or substitute the personal liability of any debror or guarantor, or extend or otherwise modify the terms of payment. or release a portion of the estate or interest from the lien of the mortgage, or release any col- lateral ,~ecurity for rhe indebtedness, pro- vided such act does nm result in any loss of priority of the lien of the mortgage, 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 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 Secretary, an Assistant Secretary or other nlidating officer of the Company. 11. NOTICES, WHERE SENT All notices required to be given the Com- pany and any statement in wririn~ rt:quired to be furnished the Company shall be ad- dressed to it at the office which issued this policy or to its Home Office. 433 South Spring Street, Los Angeles H. California. 12, THE PREMIUM SPECifiED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITLE SEARCH, TITLE EXAMINATION AND TITLE INSURANCE, @ Title Insurance and Trust Company FOUNDED IN '01;13 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 South Spring Street Los Angeles, California 90054 ,