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HomeMy WebLinkAboutD-1613 r i~ ~ J \\ it) ;..-~. ...:\ CERTIFICATE OF ACCEPTANCE ~~ 03959 rG 238 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 21, 1968 , from or executed by Henry E, Horst and Dorothy E Horst , 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, ~-~J , City Mana er The ocument thus described is hereby ,'" ~%~~ City Engineer " (~ approved as to form. ~~~ ---- ~ :.n (X; CITY OF ARcADIA ~Kl/j - ----. - --"", "-;1 ..,-,--~-, RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY. CALIF, FOR TITLE INSURANCE & TRUST CO, APR 3 1968 AT 8 A,M, !J- /~ /3 AND WHEN 'U:C:O"D~D MAIL TO I' City Nam. Clerk Str,,' P.O. Box 60 Addre.. City & Arcadia, Calif, SIal, L I RAY E. LEE, County Recorder ~ l FREE '2.-- N I SPACE ABOVE THIS LINE FOR RECORDER'S USE ........Il TAX S,-,TEMENTS TO I' Nam. City of Arcadia I . -'"~~ City & Stat'L ~ 1968 SIr..' Addreu Grant Deed ,- AFFIX flt,;;S~:nI~ unom ABOVE TO ,.05 C (4 671 THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is herehy acknowledged, J HENRY E. HORST and DOROnIY E. HORST f\); ;Al~rebY GRANf~) to the CITY OF ARCADIA, a Municipal Corporation, ~lIi /N r-EE ~. B eaaBmeRt for public street and road purposes, to become a part of and to be known as Baldwin Avenue, in, on, upon and across ,he following described real property in the City of Arcadia, County of Los Angeles ,State of California: The easterly 12.00 feet of the north 75 feet of the south 173 feet of Lot 4, in Block "0" of Santa Anita land Company's Tract, in the City of Arcadia, 'County of Los Angeles, State of California, as per map recorded in Book 6, Page 137 of Maps, in the office of the County'Recorder of said County. FREE RECORDING REQUESTED ESSENTIAL TO ACQUISITION BY The City of Arcadia SEE GOVt'T CODE 6103 I I I\~I IV I) ~ ,.. D, ro " Cl "-, :: ~ u ,., ?,. G THIS NECESSARY IN CHAIN OF T1TU, , c; , Dateifl ~ ;1, / 10 g 1.k4~~{r liJ" ~ ~~t= ' , ot Y . Hor t .. ..... .' ,.,"~ 5"'" . STATE OF CALIFORNIA } COUNTY OF LOS ANGRT.RS SS, On March 21. lq68 helo,e me, the nnd", signed, a Notary Public in and for said State, personally appeared Henry E. Horst and Dorothy E. Horst - c ~ j o " ::> to be the person..B....--whose nampA ;:!TP instrument and acknowledged that they . known to me subscribed to the within executed the same. ~I . , " :!::~-,D.. ..0; 1\>;.')-.j_ ,. ~i.t....:...: : ~ ~'''''o''' ' OFFICIAL SEAL FLORENCE E, NEERGARD rWrARY PUBLIC, CALIFORNIA LOS ANGELES COUNTY MyCommissioo Expires Mar. 4.1972 c.:> ':J1 '-::7) . :::~~;:"2 ~dJ.:M~ FI-l> e",,- E, AJe tt Name (Typed or Printed) ,',--- '\ . P. O. BDx 60, Ar,,~I', c.ltf. (1'hl~ .I'{'U fOL' omdal notullll M'al) Title Order No, Escrow or Loan No. MAil TAX STATEMENTS AS DIRECTED ABOVE , "'.. "" '-" .~r- ,/ _//" , ," ~' .., ,~; ) GRANT DEED , J' I' , ' , , - ' . , , , ,: I " , 17 ' ~ ' Title Insurance and Trust Company COMPL.ETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL GRANT DEED Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE .WITH ONE LOCAL CALL ....L. o. ..':--- ...'.,., /1 ~:... 4' ..__ -', "~ -~~. " .,- . -.. .... " , , , / / // ,/ , / / ct.' , . . . . ' , . . MARK H. BLOODGOOD AUDITOR_CONTROLLER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES. CALIFORNIA 90012 e25.3611 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. 75 Gentlemen: Pursuant to y~'ur letter dated May 9, 1968, taxes have been cancelled III acc~rdance with Section 4986 C'f the Revenue and Taxa.tiC'n C?de. This cancel- lation was ordered by the Honorable Board 'If Sup"r,- visors Oct. 29, 1968 by Auth"riza.t!,~n No. 06341. Very truly y"urs, ]If~ BLOODGOOD, Auditor-Contr011er By J. R. Passarella, Chief Tax Division JRPjEl1P/ejd /V- / f7 /..-J ROBERT A. GILL CHIEF DEPUTY J. R. PASSAREL.LA, CHIEF. TAX DIVISION RECEiVED APR - 2 1969 .CITY OF ARCADIA CITY ATTORNEY CITY COUNCIL DON W. HAGE MAYOR City of Arcadia C. ROBERT ARTH JolAYOR PRO TEM EDWARD 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. 75 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, ~~ RO T D. GLE City Attorney RDO: jh Ene. 1- " MAILING ADDRESSES CITY HALL P. O. BOX eo ,nooe LIBRARY 20 W. DUARTE ROAD 910015 POLICE DEPARTMENT P. O. BOX eo 9Tooe FIRE DEPARTI'-1ENT 710 S. SANTA ANITA AVE. 91006 TELEPHONES 4046.4471 . 1581-0276 4415.7111 447.2121 446-2128 6, ~v(J~ IJ- !ft,/ ' ,...., TO 1012-1 Fe (IO.67j California teind Titre Association Slondo,d 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 dace, and amount of which are shown in Schedule A, hereby insures the panies 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 [he Conditions and Stipulations hereof, which the Insured shall susrain by reason of: 1. Any defect in or lien or encumbrance on the title to the estate or interest covered hereby in the land described or referred to in Schedule C, existing at the date hereof, not shown or referred to in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulations; or 2. 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 poii.cy; 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 m"ortgage being shown in Schedule B in the order of its priority; all subject, however.~Th't~")1~~iSions of Schedules A, Band C and to the Conditions and Stipulations hereto annexea~~CE AND rR;~\\\11 ~ ~\" 00000000 V,s> I ,;;;:- '" 00 "'~ IS PRO 000 l' Ii ,:;r c, oo~.o {I'ffft )>......o~,." ~ ::r <l;' oo~ .'~~JlEJI!1.Jf'I~n~SJ<JVi.hereof, Title Insurance and Trust Company has caused its -.." -....; 0 4:' ~'f J -;...;.. ~ 0 A' h.J . . ~ I.. 0 J..;. Q. cOfP.:Orate;name.anu seal to be hereunto affixed by Its duly authOrized officers ~ .... or---"" "_"",,, r. ,'rr, 0 .., ,.. ~ ....J OL.~ i::-""1:""':"~ on'the uate\shownlIn Schedule A. r. I- 0 -,fB.~-' ,--,,0 Y '-' % _ 0":., ~ I, 0 Z ~ %I-O'/A ",0""(% ~ 0 ~~~J.",:g ~ 't.: 0 /0 ~l~o. 1-;., 00 i*! ~ -{t oo-S-", -:;':'~'_ 1Af<J.'i':)\0 >} ~ t, ,,0 ~ ,'.-..- ~~o .: 'I '0 oogr... TE IS G"'ooo ~ ',: I, ,s> 00000000 ~v-=- \\\,,-4I\1GE.'LES,C ~~ \\\\\.'\.'\.,~~'" Title Insurance and Trust Company by ~~~~NT Allest GW H-~ " 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 reference, in Schedule C and improvements affixed thececa 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 he imputed to the Insured by reason of any public records; (d) "date": 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 jf the owner of the in- debtedness secured by a mortgage shown in Schedule B is named as. an Insured in Schedule IL, the Insured shall include (1) each successor in interest in "Ownership of such indebtedness, (2) any such owner who acquires the escate 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 5aid 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 lot or parcel of land. (b) Governmental rights of police power or eminent domain unless notice of the exercise of 5uch rights appears in the public re(ords at the date hereof. (c) Tide to any property beyond the Jines of the land expressly described in Schedule C, or title to streets. roads. ave- nues, lanes, ways or waterways on which such land abuts. or the right to maintain therein vaults. tunnels, ramps or any other structure or improvement; or any rights or easements therein unless this policy 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 abutting ownt:'rs for access to one of stich streets or highways. unless otherwise excepted or excluded herein. (d) Defects, liens, encumbrances, adverse claims against the 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 the public 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 lnsured 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 resort. (b) In ca5e 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 writing, promptly notify the Company of any de- feet. lien or encumbrance insured uJ::tinst which shall come to the knowledge of the Insured, or if the Insured shall not. in writing. promptly notify the Company of any such rejection by reason of claimed un. marketability of title. then all liability of the Company in regard to the subject matter of such action, proceeding or matter shaH cease and terminate; provided. however, that failure to notify shall in no case prejudice the claim of any lnsured 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~ht 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 tide of the estate or interest or the lien of the mort- gage as insured; and the Company may take any appropriate aecion under 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 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, at its option, the name of the Insured for such purpose. Whenever requested by the Com- pany the Insurer! shall give the Company all reasonable aid in any such action or proceeding, in effecting 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. 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 [he 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 after such statement shall have been furnished, and no recovery shaH be had by the Insured under [his policy unless action shall be commenced thereon within five year.~ after expiration of said thirty day period. Failure to furnish such statement of loss or damage, or to commence such aecion 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 setde 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 indebtednc,~s secured by a mortgage covered by this policy, the Company shall have the option to purchase said indebtedness; such pur- chase, payment or tender of payment of (Conditions and Stipulations Continued and Concluded on Lost Poge of This Policy) UIl'; TO 1012.) AD C California lond Tltl. Association Standard Coverage Polic:y-1963 ' o SCHEDULE A Premium $ '10,00 Amount $,2,000.00 Effective Date April 3, 1968 at 8:00 a .m. Polic)' No, 6739760 INSURED 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 rorporation. 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 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 lin'es. shortage in area. encroachments. or any other facts which a correct survey would disclose. and which are not shown by the public, records. 5. UnpCltented "mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights. claims or title to water. 00 TO 1012".lB Cant. C CalifornIa Land Tltl. Alloclation StaJldard Cov.rag. PQUo;y-196J S C H E D U L E B - (Continued) PART II 1, General and special county and city taxes for th~ fiscal year 1968-1969, a lien not yet payable. 2. Right of way for laying and operating a p1pe line for, conveying water to and through said property, as reserved in the deed from Santa Anita Land Company, a corporation, to JohnC. Schultz, dated November 14, 1905 and recorded January. 5, 1906 in book 2516 page 206 of Deeds. 3. An action in the Commenced Entitled Case No. Nature of Action Affects, Superior Court March 22, 1968 ' City of Arcadia, a municipal corporation,' vs. Elizabeth Rowse Wilson, et al. 929015, Los Angeles County public right of way parcel No, 75 Notice of the Recorded pendency of said action was March 22, 1968 in book M 9807 page 805, Official Records, as instrument No. 3066 The following provision of the Deed from Henry E. Horst and Dorothy E. Horst, to the City of Arcadia, a municipal corporation, recorded April 3, 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." . Tb 1012-I-lOS6-1C C American Land Tifle Associotlon Loon Policy Additionol Coveroge- 1962 0' Californio Lond Title Association Standard Coverage 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 easterly 12.00 feet of the north 75 feet of the south 173 feet of lot 4, in block "0" of Santa Anita Land Company's Tract, in the city of Arcadia, county of Los Angeles, state of California, as per 'map recorded~:in book 6 pa g'! 137 of Maps, in, the office of the county recorder of said county. , . , I .' ~ LorIO 1 and 4 I.L0~r 0 :)F 1\A'ITA /,;:r.'A M:~iJ C0. T) ACT ~ ~'@~. ~1.J.>~";'0 'y~?\ \ \ \ ".......'\ '\ \ \ I i I i ; , I , l" L~.=;1::j..\-c~ ~ 1 \ ___~--Q..1 _--i-r _~ -- \ r ,,.-..~r _ _--.;- 0: ",-/pp-., " I . T-' \" -'I /7""" \--- \0 \ I ~ \ \~ \ 09 \ / ,;;':;;~/ I \ 'r- /21./ ~ 'l ~, .... \ ... \ \20.f}/~.~ '-<'1i~ ", ~\ \ ~ r.::-\/(("'~~' ~ ".,,3~tcltl~;~~~~~O\~ ~\\,,-;~~1~~~\ ~ -~-~ ~m::~~ .t'lf~'-('L~t ~ ~ . 1-,.1' '-'\,1 1-'0';" ~ \1\ (;., \ jl0 '" 630 o ~LJ\. ,,~'G' ntM:::'.: L 1/, .'.,.,...'..,.,.,...#'.,......,...,."".' J....',.......',',...., h ,~,-, ". ,-/' L.. <;) ~ 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. i.">", """".".,.,' ",-,,,., , \ \ \.J CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) Ihe full amount of this policy, together with . all COStS, attorneys' fees and expenses which the Company is obligated hereunder 10 pay, shall terminate all ]iability of the Company hereunder. In the event, after notice of claim has been given (0 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 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 the Company 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 ]iti- gation carried on by the Company for the Insured, and all costs and attorney.s' fees 10 litigation carried on by the Insured with the written authorization of the Company. (c) No claim for damages shall arise or be maintainable under this policy (1) if the Company, after having received notice of an alleged defect, lien or encumbrance not excepted or excluded herein removes such defect lien or encumbrance within a reasonable ~ime after receipt of such notice. or '(2) for liability voluntarily assumed by the Insured in sett]ing any claim or suit without written consent of the Company, or (3) in the event the title 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 rejecrion. (d) All payments under this policy, ex- cept payments made for costs, attorneys' fees and expenses, shall reduce (he amount of the insurance pro tanto and no 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 destruction shall be furnished to the satisfaction of the Com. pany; provided, however, if the owner of an indebtedness secured by a morr~a~e shown in Schedule B is an Insured herein then such payments shall not reduce pro tanto tht' amount of the insurance afforded hereunder as !O 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 person or voluntary satisfaction or release by the In- sUled of a mortgage covered by this policy shall terminate all liability of the Company to the insured owner of the indebtedness secured by such mongage, 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 [he 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 sertled a claim under this policy, all right of sub- rogation shall vest in the Company un- affccted 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 to such rights and remedies in the proportion which said pay- ment bears to the amount of said loss. If loss should result from any act of the In- sured, such act shall not void this policy, but the Compitny, in that event, shall be required to pay only that pan 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 ordu to perfect such right 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 this policy. such Insured may release or substitute (he personal liability of any debtOr 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 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 that the Insured may have or may bring againsr the Company arising out of the status of the lien of the mortgage covered by this policy or the title of the cstate 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 Seeretary, an Assistant Secretary or other validating officer of the Company. 11, NOTICES, WHERE SENT All notices required to be given the Com- pany and any statement in writin~ requirt'd 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 Ange](;'s ~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 I'"OUNDED IN 10:01;>3 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 Insllrance and Trust' Company 433 South Spring Street Los Angeles, California 90054