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HomeMy WebLinkAboutD-1609 , ~ ~. ," (ti " " ~' CERTIFICATE OF ACCEPTANCE , ~~ 03954 rG 389 a en C/-h %~ City Engineer as to fonn. ~" City Attorn ~ ' 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 19. 1968 , from or executed by , Michael Casa1etto. Joseph Casa1etto & Mary Casa1etto , 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. ,< r-~-< ,( Ci ty Mana e I, The ocument thus described is hereby approved Nome Slr..t Addre" .ru:.\".UM:UIl....u "e.\JUe.:::>> I eu t:lT V-'lPV7 ~~ 03954 r G 388 ,. 'r-- -, ciri OF ARCADIA 606 AND WHEN IItECOIltDED MAIL TO RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY. CALIF, FOR TiTLE INSURANCE & TRUST CO, MAR 29 1968 AT 8 A.M, RAY E" LEE, CountY. Recorder. I I City Clerk P.O. Box 60 eit, . Arcadia', Calif. StateL Name Street "-ddren City & S,ateL -.J f FREE ..-u;' , SPACE ABOVE THIS LINE FOR RECORDER'S USE MAil TAl 5TAUMHU$ TO I I City of Arcadia ..J prs AFFIX ~, $;z.7~ . ABOVE Grant Deed TO 405 C (4.671 THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, MICHAEL CASALETTO and ~, as to an undivided one-half interest, and (Ai' ~, JOSEPH CASALETTO and MARY CASALETTO, as to an undivided one-half interest v~ V (Jherehy GRANT(j1) 10 the CITY OF ARCADIA, a Municipal Corporation, ~ II. oy,(L /# ,rEE . '1 -l/!#! ,aft. 888 BHUHl.t for publ~c street and -road purposes, to become a part of and to- be known J e as Baldwin Avenue, in, on, upon and across , the following described real property in the City of Arcadia, -----.,.. County of Los Angeles -- , State of California: I~ I~ ,.. ; c::: ~'- Cl ,~J LL: ./ - '~ C( L:.j ~ c ~ 0 >= "- a:, u ~, Cl ,~ \ '. ,. The westerly 17.00 feet of Lot 9 of Tract No~ 6181, in the City of Arcadia, County of Los Angeles, State of California, as per map,recorded in Book 66, Page 84 of Maps, in the office of the County Recorder of said County., FREE RECORDING REQUESTED ESSENTIAL TO ACQUISITION BY The Citr of Arcadia SEE Gov,t Code bl03 THIS NECESSARY IN CHAI~ OF. ml'E D",~ ~d 19, 19tt /guILd tMd~ Michael Casaletto , }ss ~ ~ ~~4'A~ - Joseph cas,letto,~ ~M~P'~/ Mary asaletto ~ Wa.(/l/: STATE OF CALIFORNIA COUNTY OF LOS ANGF.T.F.S On M~ T10 n 1 9.. 1 9h R . before me, the under- signed, a Notary Public in and for said State, personally appeared Michap-J Casalpr.to, ~~~~~~~~X Joseph Casaletto and Mary Casaletto . known to me 10 be the personB-whosc name!=: arp- subscribed to the within instrument and acko7WIe ged tha~executed the same. WITNESS my hand' !lnd fficial seal. . " S' ' ...La-."""--- 19nature ~ J N-RIGGS ~.. My Comm n Expires April 5/ 1969 . '\ Name (Typed or Printed) JEAN RIGGS ~, NOTARY PVBUC, CAUFCRNIA\f PRINCIPAL OffiCE IN I tOS ANGElES COUN n 1 - . ~ - I - . ..- y y y . - . - - ..- ..- ..- .,.-.,. (This U{>D. fol' Om('illl notlrJIll6eal) Title Order No, Escrow or Loan No. MAil TAX STATEMENTS AS DIRECTED ABOVE a"~, I GRANT DEED GRANT DEED , " Title Insurance and Trust Company Title Insurance and Trust Company COMPLETE STATEWIDE TITL.E SERVICE WITH ONE LOCAL CALL COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL ~ I, _- .... ::"l .... ,. 0" ...~ (.'... _.~! -: ". t : , . . . MARK H. BLOODGOOD AUDITOR.CONTROLL.ER \ COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 625.3611 February 7, 1969 Ci ty of Arcadia 240 West Huntington Drive Arcadia, California Attention: Robert D. Ogle City Attorney Re: Baldwin Avenue Parcel No. 64 Gentlemen: Pursuant to your letter dated MaY9, 196~ ROBERT A-, GIL.L CHIEF DEPUTY J. R. PASSARELLA, CHIEF. TAX OIVISION RECEIVED FES 11 1969 .CITY OF ARCADIA CITY: ATIORNEY 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. 06149. Very truly yours, HARK II. BLOODGOOD , Auditor-Controller Zf( By J. R. Passarella, Chief Tax Division JRP !EHP Itc CITY COUNCIL- DON W. HAGE MAYOR City of Arcadia C. ROBERT ARTH MAYOR PRO TEM EDWARD L. BUTTERWORTH ROBERT J. CONSIDINE JAMES R. HELMS. JR. ~ 240 WEST HUNTINGTON DRIVE ARCADIA, CALIFORNIA LYMAN H. COZAO CITY MAN-.GER May 9. 1968 CHRISTINE VAN MAANEN CITY CLERK 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 Baldwin Avenue Parcel No. Taxes 64 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. 1- MAILING ADDR~.SSES CITY HALL P. o. BOX eo 91008 LIBRARY 20 W. DUARTE ROAD 9100e POLlCE DEP..,RTMENT P. O. BOX tiO 9100e FIRE oE:PARTMENT 710 S. SANTA ANITA AVE. 91008 TELEPHONES 446.4471 . 661-0278 0446.7111 447.2121 448-2128 TO 1012-1 Fe (10-67) California land Title .Auociation Standard Coverage Policy Form Copyright 1963 POLICY 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 parties named as Insured in Schedule A, the heirs, devisees, personal representatives 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 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 Dr encumbrance on the title to the estate or interest covered hereby in thl: land described or referred to in Schedule C. existing at {he date hereof. not shown or rderred tu 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 defC("t 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 mongage upon the estate or interest referred to in this poiicy; or ...1. Priority over said mongage, at the date hereof, of any lien or encumbrance not shown or referred [0 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~~":"tb'1~"))~~~siQ{lt of Schedules A, Band C and to the Conditions and Stipulations- hereto annex~::'" ~CE AND "'110 \I\ll .=- ^ ~ 00000000 '.$ ~VI .:: ~':'" oo,.\', IS P,?Oooo r II ,;:;'0vooO"" 1'..0 /) ~ / ~ oo~ -?\,/;I:"JJ-;&'l.!.14qvtt,..ne.,.rs(W"(1ereo!J Title Insurance and Trust Company has caused its t " ~ ~ ~~ ^ICOfP2rat1;8ame.a~.d seal to be hereunto afflxed by its duly authorized officers 'A 4.J o~/ r-h~d'" oh.... (., h d ~ -J oL...-_~"'t (Ion t e ate\s ownlln Sc e ule A. ~ I- 0 - ,^' "'1O.:l-!i-'b.'--U0)P ~ ~ _ 0-;,:'>>.. "~~~~~L_ 1\ g :z ~ ~ l- ';, :;4;"~~-'~ "Q"'~ ,-0 -.c ~ ~ 0 ~ \~'~Q' ~It;-f Qg ~ ~J {< o-S-~ ':....r', ,'r'\/"""^"'O 1} j:: (I 0" ,,,,, ""Y'dvn _ '( -/ 0 -t ,',,' t-~ 0" _ 'I '0 00g1'4TE IS GUooo ,.... ',: I, $' 00000000 'V-" ~ 11\\,4i\fGELES, C --=-~ \\\\'\'\.,'~~ Title Insurance and Trust Company by ~~~~NT AlleJt~lf'~ . SECRETARY CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "'and": the land described, specific- ally or by rderencc, in Schedule C and improvements affixed thereto which by law constitute real property; (b) "public records": those records which impart constructive notice of matters r~lating 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) "date": the effective date; (e) "mortgage": mortgage, deed of trust, trust deed, or orher 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 Insur("d in Schedul(" A, the Insured shall include (1) ("ach 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, or any part thereof, wheth("r 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 co\'ered 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). restrining or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions, or location of any improvem("nt now or hereaher erected on said land, or prohibiting a separation in ownership or a reduction in the dimensions or area of any lot or parcel of land. (h) Governmental rights of police power or ("minent domain unless notice of the ('xerci.~e of such rights appears in the public records at the date hereof. (c) Tide 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 right to maintain therein vaults, tunnels. mmps or any ocher structure or improvement; or any rights or easements therein unless {his policy specific- ally provides that such property. rights or easements are insured, except that if the land abuts upon one or more l'hysicaUy open streets or highways this policy insures the ordinary rights of abu[(in~ owners for access to one of such Streets or highways. unless otherwise excepted or excluded herein. (d) Defects, liens, encumbrancts, adverse claims against the title as insured or other matters (1) created, suffered, assumed or agreed to by the Insured c1aimin~ loss 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 th("reof 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 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 ('ncumbrance 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 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 br a mortgage covered by this policy, or, i 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 writing, promptly norify the Comp:lOY of any de- fect, lien or encumbrance insured a,gainst which shall come to the knowledge of the Insured. or if the Insured shall noc. 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 ri,ght 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 mort- gage as insured; and the Company may take any appropriate action under the terms of this policy whether or not it shall be liable thereunder 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 proceeding, the Insured shall secure to it the right to so prosecute or provide de- fense in such action or proceeding, and all appeals therein. and permit it to use, a[ its option, the name of the Insured for such purpose. Whenever requested by the Com- pany the Insured shall give the Company all reasonable aid in any such action or proceeding, in effecting settlem("nt, 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 shall be had by the Insured under this policy unless action shall be commenced thereon within five year.~ after expiration of said thirty dar period. Failure to furnish such statem("nt 0 loss or damage. or to commence such action 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 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 indebtedn(:'.~s secured by a mortgage covert:d by this policy, the Company shall have the option to purchase said indebtedness; such pur- chlise, payment or tender of payment of (Conditions and Stipulations Continued and Concluded on Lost Page of This Policy) mc T(j 1012-1 AS C California Lond nHe Association Standard Coverage Policy-1963 SCHEDULE A Premium $ Cf-iJ, do An10unt $ 2, 000 .00 Effective Date March 29, 1968 at 8:00 a.m. INSURED Policy No. 6739728 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, ARCAD~A, a municipal corporatioQ. 2, The estate or interest in the land described or referred to ill 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 fncts, 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 orea, 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 1012.1B Coni. C California land Titl. Auodatlon ~tandard Coveralile Pollcy-1963 S C HE,D U L ~ 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 the portion of said land and for the purposes stated herein, and incidental purposes In Favor of : California Trust Company For : pole lines and conduits and pipe lines, Recorded : Sep t.ember 2, 1932 in book 11796 page 57, Official Records Affects : the rear 4 feet. 3. Covenants, conditions and restrictions in the above recorded in strument vfuich provide that a violation' thereof shall not defeat or'render invalid the lien of any mortgage or deed of, trust made in good faith and for value. ! 4. An easement purposes stated In Favor of affecting the portion of said land and for the herein, and incidental purposes $outhern California Telephone Company, a corporation poles in book 18628 page 377, Official Records on August 14, 1941 the rear 4 feet ~ For Recorded Affects 5. An action in the Commenced Entitled Superior Court March 22, 1968 City of Arcadia, a municipal corporation Elizabeth Rowse Wilson, et al ' 929015, Los Angeles County public right of way parcel No. 64' vs. , Case No. Nature of Action Affects Notice of the pendency of said action was Recorded : March 22, 1968 in book M 2807 page 805, Offical Records, as instrument No. 3066 6. The following provision of the deed from" ]\Ucba:eil.) Casaletto as'to' an undivided one-half interest, and Josepl? Casaletto and Mary Casaletto, as to an undivided one-half interest, 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 purposes, to become a part of and to be knowp as Baldwin Avenue." . TO I012-1-I0S6-IC C American lond Title Associotion loon Policy Addlr'ionol Coveroge-1962 0' Californio land Title Association Standord Coveroge Policy-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, The westerly 17.00 feet of lot 9 of Tract No. 6181, in the city of Arcadia, county of Los Angeles, state of California, as per map recorded in book 66 page 84 of Maps, in the officeof the county recorder of said county. . TO 23-4 VC .; ~ 6ARI8AI-Ol ~ AliI!. \ ~ PALM r O,e. ~ ~ /~5-:;;~ !~ruI@I':~;:~.9, 7./ 60 Nor a PQr"r /-f'.<~~~;- 3 -::,.~~~ orTh"f~cf ,~~/. 5 ~()~ o~'>, ~ ~ . H ~Sl' ~\~ ,.'~ ~ \.'.',...,...',., \f,'> \.\ I,.' I ~ fr a II) I.l) <9 ~ r . ~\(j , \ AVE. TRACT NO. 6/8/ M 8, 6G-B4 @ This is not a survey of the land but is compiled for information by the Title Insurance and Trust Company from data shown by the official records. CONDITIONS AND STIPULATIONS (Continued ond Concluded From Reverse Side of Policy Face) lhe full amount of this policy, together \,"ith all costs, attorneys' fees and expenses which the Company is obligated hereunder (0 pay, shall terminate all liability of the Company hereunder. In the event, afler nmice of claim has been given to the Com- rany by the Insured, the Company offers to purchase said indebtedness, the owner of such indebtedness shall transfer and assign .~aid indebtedness and the mortga~e securing 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 Ihe Comp<lny may be obligated hereunder to pay. (b) The Company will pay, in addition to any loss insured against by this policy, :Ill COSts imposed upon the Insured in liti- gation carried on by the Comp<l-ny for the Insured, and all COStS and attorneys' fees in litigation carried on by rhe 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 alleged defect, lien or encumbrance not excepted or excluded herein removes such defect, lien or encumbrance within a reasonable time after receipt of ~uch notice, or '(2) for liability volunrarily ;issumed 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 def(Ct, lien or encumbrance nor excepred 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 payments made for COStS, attorneys' fees and expenses, shall reduce the aJllount of the insurance pro tanto and 00 payment shall 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 destnlction shall be furnished to the satisfaction of the Com- pany; provided, however, if tht" owner of an indebtedness secured by a mon~age shown in Schedul~ H is an Insured herein th~n such payments shall not reduce pro tanto the amount of the insurance aff()rded hereunder as to such Insured, except 10 the extent that such payments reduce rhe amouot of the indebtedness secured by such mon- gage. Payment in full by any person or voluntary satisfaction or release by the In- sUl'ed of a mortgage covered by this policy shall terminate all liability of the Company (() the insured owner of the indebtedness secured by such mortgage, except as pto- 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 wilhin 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 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 the Insllfed 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 result frnm any act of the In- sured, such act shall not vnid this policy, but the Comp,my, in that event, shall be required to pay only that pan of any losses insured a~ainst hereunder which shall ex- ceed the 'amount, if any, lost 10 the Com- pany by reason of the impairment of the right of subrogation. The Insured, if re- quested by the Company, .o;hall traosfer to the Company all rights and remedies against any person or property necessary in ordu to p(;rfect such righr of subtogation, 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 this policy, such Insured may release or substitute the personal liability of any debtor or guarantor, or exrend or orhcrwise modify the terms of payment, or release a portion of rhe estate or interest from the lien of the mortgage, or release any col- lateral security for the indebtedness, pro- vided such act does not resulr in any loss of priority of the lieo of the mortgage. 10. POLICY ENTIRE CONTRACT Any anion or actions or rights of action rhat the Insured may have or may bring against the Company arising out of the status of the lien of the mongage 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 I:ndorsed hereon or altached hereto signed by the Pre.sident, a Vicl: President, rhe Secrelary, an Assistant Secretary or other v:llidating officer of the Company, 11, NOTICES, WHERE SENT All notices required to be given Iht' Com- pany and aoy statement in writing rl:quired to be furnished the Company shall be ad- dressed to it at the office which issued this policy or to its Home OffiCI:, 433 South Spring Street, Los Angeles ~4, 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 FOUNOEO IN ltlP3 POLICY OF TITLE INSURANCE Offering complete title services thr-oughout 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 " ,