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HomeMy WebLinkAboutD-1614 ~~03959rbZ40 CERTIFICATE OF ACCEPTANCE " :; I.", 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 !l.; or instrument dated March 25. 1968 , from or executed by Howard 1. Pratt and Lucile Pratt , 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.o icers. ~ :.n ~ ~/t ~AI- City Engineer , City 'Manager ft' , , The , ",J; . ),' I' document thus described is hereby approved as to form. ~~, City Attorn'':~ -=- ~l { .. / . - .- cil'COP-ARCADIA af)~ V II ""'v>Jt,,/J I II Lv.:} RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY CALIF FOR TITLE INSURANCE & TRUST CO, APR 3 1968 AT 8 A.M. RA\: f., LEE, CountY. Recore/Ill D- / t /Ji)2 AND WHI!N RECORDED MAIL TO I Nam. City Clerk Str..' 60 Addrell P.O. Box City I Arcadia, Calif. S'al. L I -.l l FREE oz...N I SPACE ABOVE THIS LINE FOR RECORDER'S USE" .....AIL TAK STATEMENTS TO I I Name Ci ty of Arcadia City & StoleL ~ 1968.' Sfr..t Addren Grant Deed AFF!X1J~~ nnn,;;,}-E nnn ABOVE TO 405 C \4 67) THIS FORM FURNISHED BY TITLE INSURANCE AND TRU6T COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is herehy acknowledged, HOWARD 1'0 PRATT and LUCILE PRATT fl" ehy GRANT(!) to the CITY OF ARCADIA, a Municipal Corporation, /IV rEE . aR QaS9mQ~t for publ1c street and road purposes, to become a part of and to be known ~as Baldwin Avenue, in, on, upon and across f;he following descrihed real property in the City of Arcadia, County of Los Angeles ,State of California: The westerly 17.00 feet of Lot 10 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. FREKCRECORDING REQUESTED ESSENTIAL TO ACQUISITION BY The City of Arcadia SEE Gov't Code bl03 ~ '> 'fHIS NECESSARY IN, CHAIN ,OF. [IILE >' ,.. "' "' z ~ WJ J:: G '" ~ ~ u. Dated ft~ c(b-: frc JY I ~.~~ ~r&4# z , o ' ~! u '" eLl Q ~ STATE OF CALIFORNIA } COUNTY OF LOS ANGELES 55, On March 2'). lq68 beln'e me, the unde" signed, a Notary Public in and for said State, personally appeared Howard I. Pratt and Lucile Pratt ! to be the person~whose namf> S are instrument and acknowledged that they WITNESS my hand and official seal. . known to me subscribed to the within executed the same, ~ :.n ,~ Signature ~ ~ Name (Typed or Pnnted) ~. ~ :~" '1f,!",":'J.'~Se. .CO ?Ji'Ifi,'t ~\~a) 'X4'~Q~/ OFFICIAL SEAL FLORENCE E. f(EERGARD NtJlARY PUBLIC. C/\lIro,~;~IA LOS ANGELES COUNTY MyCommisslon Expires i,1ar. 4, 1912 , .~ . I P. O. Bex 60, Arcadia. Calif. (Thb nt'a for olTlrilll nfltlflnl ~('lll) '\ ~ Title Order No, Fscrow or Loan No. MAil TAX STATEMENTS AS DIRECTED ABOVE ~ . ',1 -, . ..:d .' , " . .. , , , . . ! 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 ~ .. ~.. . . :1 "",,--- " - '\. ",.~ .- ."f .:,~ J . MARK H. BLOODGOOD AUDITOR.CONTROL.L.ER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL. OF ADMINISTRATION LOS ANGELES. CALIFORNIA 90012 625.361 1 February 7, 1969 Ci ty of Arcadia 240 West Huntington Drive Arcadia, California Attention: Robert D. Ogle City Attorney Re: Baldwin Avenue Parcel No. 65 Gentlemen: Pursuant to your letter dated May 9, 1968, ROBERT A. GILt. CHIEF DEPUTY J. R. PASSARELLA,' CHIEF. TAX DIVISION RECEIVED FEB 11 1969 CITY OF ARCADIA CITY ..TIORNEY taxes hnve been cancelled in accordance with Section 4986 of the Revenue and Taxation Code. This cancel- lation was ordered by the Honorable Board of Super- visors October 22, 1968 by Authorization No. 06152. Very truly yours, !,fARK II. BLOODGOOD, Auditor-Controller ~ g-<. -4 ~ Jt-' J 1-",-- By J. R. Passarella, Chief Tax Division JRP!EI>IP/tc " CITY COUNCIL DoN W. HAGE "'''YOR City of Arcadia C. ROBERT ARTH MAYOR PRO TEN 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, 6, 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. ~ MAILING ADDRE~5E5 CITY HALL P. O. BOX eo gl00e LIBRARY 20 W. DUARTE ROAD 91008 POLICE DEPARTMENT P. O. BOX 60 gl00e FIRE DEP,.t,RTMENT 710 S. SANTA ANITA AVE. g100e TELEPHONES .48-.471 . 6S1.Q27l5 446.7111 447.2121 448.2128 ~~ r 10 1012-1 Fe (10-67) Ccdifornia land Title Auodotion ,Standard COyerClge Policy Form Copyright ] 963 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 parries 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 susrain by reason of: 1. Any defect in or lien or encumbrance on the titk- to the estate or interest covered hereby in tht' land described or referred to in Schedule C, (:'xisting ~t the date hereof. not !'ohowa or referred t{l in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulations; or 2, Unmarketabiliry of such title; or 3, Any defect in [he execution of any mortgage shown in Schedule 8 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 [he t:state or inu'r(:'s[ referred to in this policy; or 4, Priority over said mortgage, at the date hereof,' of any lien or encumbrance not shown or referred to in Schedule B, oc excluded from coverage in the Conditions and Stipulations, said mortgage being shown in Schedule B in the order of its priority; alI sub)' ect, however-;~f0'1~ ~ 'p'}.~~lsions of Schedules A, Band C and to the Conditions and Stipulations- -.;..- r "\\ hereto annexed;:- ~C~ AND r,V. \11 ~ q.~ 0000000 VoS' I, : ....".. oo~~ \S PRoooa )- Ii s::7 0)" 00 O'fl' "'''.0 /) t ~ ~ oo~ ~~"'~"i-%~:'l!z.Q.!P'"tt...n~ss(!Pffereof, Title Insurance and Trust Company has caused its ! --. g ~ *~ ^lco'fp.?rat1;8ame.a~.d seal to be hereunto affixed by its duly authorl'zed officers ~ 4J o~ ~/ ,.. ~d"'" 0h"" f.' Sh d ~ -.J 0/ ~"-~~~{ion-the ate~s own!1n c e uleA, ~ ~ 0- ~ar;, "'~J.f'-"bU'o'" ~ ~ _ o~_~ ..._-"'..;11- 1,\ g z ~ rJ I- 0 >~iJ!.1r ~~;;r; .'~ ,.0 -.:: F:. ,J 0'" 'b#/;' ,I'..,'", 0 J:! '/) 0,>. ,,'{:;: .. ,(T <:>0 ~ 'I. -{l oooS-",.:- ~~ I!).Y',<' <:>"'00 *;:: Ii ,,0 -t ' , " t;-~ 0 _, ;: "I '0 oog"... TE IS (;\1000 ,.....,;:: 'I oS' 00000000 'i;--" ~ 1\\\,-4NGEUS, ~ ,.;:::--= \\\\'\""~~ Title Insurance and Trust Company by C;;~~~NT Attest c:JLu lif-~ . SECRETARY CONDITIONS AND STIPULATIONS 1. DEFINITION Of TERMS The following terms when used in thi5 policy mean: (a) "land": the land described, specific- ally or by rderence, in Schedule C and improvements affixed thereto which by law constitute real property; (b) "public records": those records which impart constructive notice of matters relating to said land; (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, trust deed, or other security instrument; and (f) "insured": the party or parties named as Insured, and if the owner of the in- debtedness secured by a mortgage shown in Schedule B is named as. an Insured in Schedule A, the Insured shall include (I) 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 instrumenrality which is an in- surer or guarantor under an insurance con- tract or guaranty insuring or guaranteeing said 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 [hereof, 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 nm limited to huilding and zoning ordinances) restricting or regulating or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions, or location of 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 lot or parcel of land. (b) Governmental rights of police power or eminent domain unless notice of the exercise of such rights appears in the public rewrds 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 aburs, 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 owners 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, t suffered, assumed or agreed to by the Insured claiming loss or damage; or (2) known to the Insured Claimant either at the dace of this policy or at the date such Insured Claimant ac~ qui red an estate or interest insured by this policy and not shown by the public records, unless disclosure thereof in writin.'; 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 C]aim- ant; or (4) attaching or created subsequem 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 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 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 chis 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 foreclosurt: 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 Comp.lOY of any de- fect. lien or encumbrance insured against 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 lhe Company in regard (0 the subject matter of such action, proceeding Dr 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 h1 the extent of such prejudice. (c) The Company shall have the right at its own cost to institute and prosecute any action Dr 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 aClion under the terms of this policy whether or not it shall be liable thereunder and shall not thereby concede liability or waive any provision of this pDlicy. (d) In all cases where this policy per- mits or requires the Company to prosecute Dr provide for the defense of any actinn or proceedin,(::, 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 Dption, 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 settlement, 'securing evidence, obtaining witnesses. or prDsecu- ting or" defending such action or proceed- ing, and the Company shaH 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 poticy 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 after such statement shall have been furnished, and no recovery shall be had by (he Insured under this policy unless action shall be commenced thereon within five year.~ afler expiration of said thirty dar period. Fai]ure to furnish such statement 0 loss or dama~e, or to commence such action within the time hereinbefore specified, shall be a con- elusive bar against maintenance by the In. sured Df 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 10 pay the full amount of this policy, or, in case loss is elaimed under this policy by the owner of the indebtedness secured by a mortgage covered by (his policy, the Company shall have the option to purchase said indebtedness; such pur- chase, payment or tender of payment of (Conditions ond Stipulotions Continued ond Concluded on Lost Page of This Policy) TO 1012-1 'AB C Calif"rnia land Title Association Standard Coverage Polic;y-1963 S C H E D U L E ,1\ Amount $ 2,000.00 Effective Date April 3, 1968 at 8:00 a.m. Premium $ yO, C! 0 Policy No, 6739729 INSURED CITY OF ARCADIA, a municipal corporation. 1. Title to the estate or interest covered by this policy at the date hereof is vested m: CITY OF ARCADIA, a municipal corporation. 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 arc not shown by the public records but which could be ascertaine~ by an inspection of said land or by making inquiry of persons in possession thereof. 3. Easements, claims of easement or encumbrance!, "Yhich 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 arc not shown by the public records. 6. Unpatented mining claims; reservations or exceptions in patents. or in Acts authorizing the issuance thereof; water rights, claims or title to water. TO 1012-111 Coni. C CaHfornio ~and Till. Auacialion Standard COnrag. Pollcy-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. Covenants, conditions and restrictions of restrictions Executed by Recqroed in the declaration : John L. Granville : in book 4862 page 344, Official Records Said covenants, an instrument Executed by ~ecorded conditions and restrictions have been modified by : not stated : in book 5670 page 101, Official Records Said covenants, conditions and restrictions habe been incorporated by reference thereto in a deed Executed by : California Trust Company, a corporation Recorded : in book 11796 page 57, Official Records all prior to February 15, 1950 Which 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. 3. An action in the Commenced Entitled 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. 65 Case No. Nature of Action Affects Notife of the pendency of said action was Recorded March 22, 1968 in book M 2807 page 805, Official Records as ,instrument No. 3066. 4. The following provision of the~deed from Howard I. Pratt and Lucile Pratt, 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. TO lOI2.1-I056.1C C American land Tille Assoclotlon loan Policy Addlfionol Coveroge-1962 0' Californio land 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 westerly 17.00 feet of lot 10 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. . '~ cAR/BALDI ~ ,AV6. \ ~ PALM Ei. r O,e. ~ ~~~~@~~'~~l .~,.~' 5 ~~ '~'"' N N 0 \l)~~ ~\~ ~ Nor a po,.-f or-fhis fn:Jcr 60 AVE. \ TRACT NO. 6/8/ M 8, 6C-84 @ 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 and Concluded From Reverse Side of Policy Face) the full amount of this policy, together \\"ith all costs, attorneys' fees and expenses which the Company is obligated hereunder to pay, shall terminate all liabi]ity of the Company hereunder. In the event, afrer 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 _~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 acma] loss of the Insured and COStS and attorneys' fees which the Olmpany may be obligated hereunder to pay, (b) The Company will pay, in addition to any.loss insured against by this policy, all costs 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 written authorization of the Company. (c) No claim for damages shall arise or be maintainable under this policy (I) if the Company, after having received notice of an alleged defect, lien or encumbrance not excepted or excluded herein remove.~ such defect, lien or encumbrance within a reasonable time after re<eipt 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 rejened as unmarketable because of a defect, lien or encumbrance not excepted or excluded in this policy, until there has been a final determinarion by a coun of competent juris. diction sustaining such rejection. (d) All payments under this policy, ex- cepr payments made for cosrs, attorneys. fees and expenses, shall reduce the 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 mon~a~e 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 indebredness secured by such mort- ~age. Payment in full by any person or voluntary satisfanion or release by the In- smed 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. 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 rhe 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 e5tate or interest in satisfaction of said indebtedness or any part thereof. 9. SUBROGATION UPON PAYMENT OR SEnLEMENT 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 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 vuid this policy, but the Com~xlOY, 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 rhe righl of subrogation. The Insured, if re- quested by rhe Company, shall transfer to the Company all rights and remedies against any person or property neassary in order to pt:rfect 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 the personal liability of any debtor or guarantor, or extend or otherwise modiEy 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 against the Company arising out of the status of the lien of the mortgage covered by this policy or the tide 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 l;"ndorsed hereon or attached hereto signed by rhe President, a Vice President, the Secretary, 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~ requireJ 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 54, 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 .8113 POLICY OF TITLE INSURANCE Offering complete title services throughout the state of California with just one local call. Title Insurance and Trust. Company 433 South Spring Street Los Angeles, California 90054 Complete title services also available in the states of Alaska, Nevada, Oregon and Washington through subsidiary Companies. ,.