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HomeMy WebLinkAboutD-1617 ,J - /: c, ~'; ~ " ~ ".1l:.~~ ~ CERTIFICATE OF ACCEPTANCE ~K 03963 rG 6ZZ 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 27, 1968 , from or executed by Hugh E, Buck and Helen G, Buck , is hereby accepted by the City of..Arcadia by the order or authorization of the City Council of the City of Arcadia contained in Reso1ution'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. '7cr,;~ The document thus described is hereby \ ~/1~ City'Engineer . CJ1 ~ CJ1 appro''''~ d _'. C~Ato'~ Cr'i"[ OF' ARCADIA QL}Q RECORDED IN OfFICIAL I{ECORDS () _ /,;' /"n DF LOS ANGELES COUNTY. CALIF. / <0 '/ FOR TITLE INSURANCE & TRUST CO. APR 8 1968 AT 8 A.M. ftA"i Eo LEE, County Recorder, AND WHItN ItI!;CORDED "'AIL TO r- Nom. City Clerk Str_t P.O. Box 60 Add,... City I. Arcadia, Calif. Slot, L I ~ , FREE 'Y""'"'R I SPACE ABOVE THIS LINE FOR RECORDER'S USE ........11 'AX STATEMENTS TO r- I 8 1968 Nom. City of Arcadia Slr,.t Addr... City" Stot'L ~ .' Grant Deed brs AFFIX ~ S d:l ~ "7 t;; .......--.......- .......__ ABOVE TO 40iS C (4.671 THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, t;~RUGH E: BUCK and HELEN G. BUCK " B creBy 'GRANT(~ to the CITY OF ARCADIA, a Municipal Corporation, , /N rcc . aR easemeRt for public street and road purposes, to become a part of and to be known -- as Baldwin Avenue, in, on, upon and across the following described real property in the County of Los Angeles City of Arcadia~ , State of California: The westerly 17.00 feet of Lot 8 of Tract No. 9282, in the City of Arcadia, County of Los Angeles, State of California, as per map recorded in Book 125, Page 6 of Maps, in the office of the County Recorder of said County. ~ ") > ,.. a '" a ~.:J '" U uJ :r: u Dated f~j/t'? ) , " , . , , STATE OF CALIFORNIA } COUNTY OF LOS ANGELES 55. On 714~ R 7, / 1 ;;, r before me, the under- signed, a Notary Public in und for said State, per!>onally appeared Hugh E. Buck and Helen G RlI~k " , . known to me to he the person~whose name s are subscribed to the within instrument and acknowledged thut they executed the same. WITNESS my hand and official 6eal. S;gnatu,e ~~ 0. )~4/uZ ff;""~ ~~~': .'i ' ,. \' '!~~~f, ~ \t\\-..". '<',"t>. \"'1::",,;:;,,, / ""~ ~-"":_"''''~.. CFFICIAL SEAL FLOREI,CE E. NEERGARD NOrJoRY i'iJ8L/C. Ci-IUFGkNIA LOS ANGELES COUNTY MyCommission ExpiresMar.4.1972 ,.. P. o. Box 60. Arcadia. Calif. ~ -, Name (Typed or Printed) (Thl~ UPS for omdal Ilutarlal 81'1l1) Title Order No. Escrow or Loan No. MAIL TAX STATEMENTS AS DIRECTED ABOVE /.;: GRANT '.DEED GRANT DEED ..~.. ~. , Title Insurance and Trllst Company Title Insurance and Trust Company i COMPLETE STAT'EWIDE TITLE SERVICE WITH ONE LOCAL CALL COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL ,.- .. ~ ,. , .~ -< J" ------. . A \ \ \ \ \ \ \ \ \. 8',(g .: o. I : . . . MARK H. BLOODGOOD AUDITOR.CONTROLLER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 825-3611 February 20~ 1969 City of Arcadia 240 West Huntington Drive Arcadia, California Attention: Robert D. Ogle City Attorney V-/V'/ ROBERT A. GILL CHIEF DEPUTY J R. PASSARELLA. CHIEF. TAX DIVISION RECEiVED FEB 27 1969 CITY OF ARCADIA C!TY :~.TIORf'lSY Re: Baldwin Avenue Parcel No. 54 Hugh E. and HelenG; Buck - Grantors Gentlemen: Pursuant to your letter dated May 9, 1968, ta~es 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. 06148. Very truly yours, NARK H. BLOODGOOD, Auditor-Controller .CK By J. R. Passarella, Chief Tax Division JRP /E!1P It c , . CITY CqUNCIL [JON W. HAGE MAYOR City of Arcadia c. ROBERT ARTH ""AYOR PRO TEM EDWARD L. BUTTERWORTH ROBERT J. CONSIDINE JAM~5 R. HELMS. JR. ~ 240 WEST HUNTINGTON DRIVE ARCADIA, CALIFORNIA LyMAN H. COZAD CITY MANAGER CHRISTINE VAN MAANEN CITY CLERK May 9, 1968 .' Mr. John R. Passarella, 500 West Temple Street, Los Angeles, California Auditor-Controller Room 153 90012 Attention: Eleanor Parker, Tax Cancellation Section Subject: Request for Cancellation of Taxes Baldwin Avenue Parcel No. ,4 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. ~ MAIL_1NG ADDRE.5SES CITY HALL P. O. BOX eo "'008 LIBRARY 20 W. DUARTE ROAD "10015 POLICE DEPARTMENT P. O. BOX eo "1006 FIRE OEPARTMENT 710 S. SANTA ANITA AVE. 91006 TELEPHONES 404e.4471 . l5S1.027l5 448.7111 447-2121 . 448.2128 /~~ 10 1012.1 f C (10-67) California lond Title "uodation 5fandord Coverage Polky Form Copyright 1963 POLICY OF TITLE INSURANCE ISSUED BY Title Insurance and Trust Company Title Insurance and Trust Company, a California corporation, herein called rhe 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 nor 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 or encumbrance on the title to the estate or interest covered hereby in the: land described or referred to in Schedule C, existing at rhe date hereof, not shown or referred to in Schedule B or excluded from cover<lge 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 ;IS 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 policy; or -1. Priority over said mortgage, at the date hereof, of any lieA or encumbrance not shown or referred lO 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; "II sub,'ect, however;~f0'1~'~p~~lsjons of Schedules A, Band C and to the Conditions and Stipulations- -.-., "\\ hereto annex~-:- ~ (j ~ AND ., I? (; \ II ~ ~~ 000000000 .$'" I, -- ,', 00 ..1'. IS PRO 00 / II .-' o,v 00 0'"' 'f'..o ~ t .::r ~ oo~-?'q.~{I.~~;'0J}Wtt;,n€!.s.rdf<rereofJ Title Insurance and Trust Company has caused its ~ ...... 00 i5' *rJ. jcorp.2rat~8ame.a~4d seal to be hereunto affixed by its duly authorized officers 1-1 l.o.f gr~ oii:'the~1e}h~n~;' Schedule A. -:; - ~~ . ~\"l.i\ 0 ", 'A ~ !:: g-_~ ~'C~l 0 z ~ ~ \-" ';, ;J~~-; ti~ ,1Q.1t. -: g "'< ~ ~ 0 " ':ii'i\,.... ~ .:::. ' 'r " 0 * ~J.{< oo-s.;-::-<S'._HRJI."",,"'l 1}::: (,, '" 0 ~. . - .' 't-~ 0 L. .::: 't '0 oO~r"TE IS (,uooo ,.... 0; ~I .$' 00000000 ,?-V":;-: 11\\\-4IVGfLES, V ~~ \\\\\.\..,'~~...., Title Insurance and Trust Company by Z;~~~NT Allell CJ.Lu N-~ " SECRETARY CONDITIONS AND STrPULATIONS 1. DEFINITION O~ TERMS The following terms when used in this policy mean: (a) uland": the land described, specific- ally or by rdert:nce, in Schedule C and improvements affixed thereto whicn by law constirute real pr()perty; (b) "public re<ords": those records which impart consrructive 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 recc)cds; (d) "date": the effective date; (e) "mortgage": mortgage, deed of trust, trust deed, or ather security instrument; and (f) "insured": the party or parlies named as Insured, and if the owner of the in- debtedness secured by a mortgage shown in Schedule B is tlamed 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 instrurnenrality which is an in- surer or guarantor under an insurance con~ tract or guaranty insuring or guarameeing said indebtedness, or any part thereof, whether named as an insured herein or not, subject otherwise to the provisions hereof. 2. BENEFITS AFTE:R 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 indebtedttess, Dr 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 guara.nty insuring or guarantee- ing the indebtedness secured by a mortgage covered by this Ilolicy, 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 regu]atjon (incJuding but nOf limired to huilding and zoning ordinances) restricting or regu]a~ing or prohibiting the occupancy, use or enjoyment of the land, or regulating the character, dimensions, or location of any improvement now or hereafter erecred on said land, or prohibiting a separation in ownership or a reduction in the dimensions or area of any lC)t or parcel of land. (b) Governm~nral rights of police power or eminent doo,ain unless notice of the (:xerci!'e of such rights appears in the public records at the date hereof. (c) Title to any property beyond rhe Jines of the land expressly described in Schedule C, or title to SHeetS, roads, ave- nues, lanes, ways or waterways on which such land ahuts, or the ri~ht to maintain therein vaults, tunnels, ramps or any other structure or improvement; or any rights or easements rherein 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 SHeets or highways, unless otherwise excepted or excluded herein. (d) Defects, liens, encumbranct:s. adverse claims against the rit]e as insured or other matters (I) created, suffered, assumed or agreed to by the Insured claiming loss or damage; or (2) known [() the Insured Claimant either ,1t the dare 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 (0 the date of this policy; or (3) resulting in no loss (0 the Insured Claim- ant; or (4) attaching or created subsequent to the date hereof. (e) Loss or damage which would not have been sustained if the Insured were a purchaser or encumbrancer for value with. out knowledge. 4. DEFENSE AND PROSECUTION OF ACTIONS -NOTICE OF CLAIM TO BE GIVEN BY THE INSURED (a) The Company, at its own cost and without undue delay shall provide (1) for the defense of the Insured in aU litigation consisting of actions or proceedings com- menced against the Insured, or defenses, restraining orders, or injuncrions interposed againsr 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 lititation to final determination in the court 0 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 shaff 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 samt:, 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 reje<ted as un. marketable, the Insured shall notify the Company thereof in writing. If such notice shall not be given to the Company within cen days of the receipc of process or plead. ings or if the Insured shall not, in writing, promptly notify rhe C(lmp.my of any de- fect. lien or encumbrance insured a~ainst which shall come to the knowled~e 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 shall ceast: llnd terminate; provided, however, that failure to notify shall in no case prejudice the claim of any Insured unles!' ,he 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 ritle of the estate or interesr or the lien of the mort- gage as insured; and the Company mny take any appropriate aCtion under the terms of this policy whether or not it shaH be liable rhereunder and shall not 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 Iosured 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 sllch 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, securin~ 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 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 afrer 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 years afrer expiration of said thiny day period. Failure to furnish such sralement of loss or damaj.';e, 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 thc 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 indebtedncss secured by a mortgage covert:d by this policy, the Company shalJ 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 AB C California Land Title Association Standord Coverage Policy-1963 SCHEDULE A PrCllliunl $ 9"6. 0 0 Amount $ 2,000.00 Effective D~e April 8, 1968 at 8:00 am. INSURED Policy No. 6739718 CITY OF ARCADIA, a municipal corporation. 1. Title to the estate or interest covered by this policy at the date hereof is vested In: CITY OF ARCADIA, a municipal corporation 2. The estate or interest in !he land described or referred to in 'Schedule C covered by !his policy' is a fee. SCHEDULE B This policy does not insure against loss or damage by reason of the following: PART I 1. Tuxes or assessments which ore not shown os 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 ore 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 area, encroachments, or any other facts which a correct survey would disclose, and which are not shown by the public records. 5. Unpetented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. m T-I} TO 1012-18 Cont,' Q:llifomia Land Tltl. Auoc1otion Standard CO....rag. Pollcy-1963 S C H E D U L E B - (Continued) PART II 1. General and special county and city taxes for the fiscal y~ar 1968-1969, a lien not yet payable. '2. General and special county and city taxes for the fiscal year 1967-1968, Second Installment : $174.32 parc~l No. 5787-11-9 3. Covenants ,e Executed by Recorded' conditions and restrictions in the deed Peter L. Cuccia prior to February 15,1950 in book 740' page 286,' Official ,Records , ~. An action commenced in Entitled. Case No. Nature of Affects Notice of the pendency Recorded Action the 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.' ,54 ' of said ~ction was March 22, 1968 in book M 2807 page 805, Official Records, as instrument No. . 3066 5. The fOllowing provision of the deed from Hugh E. Buck and Helen G. Buck, to the City of Arcadia, a municipal corporation, recorded April 8, 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 I012-1-I056.IC-C American land Title Association Loon Policy Additional Coverage-1962 0' California Land Title Auociation Stondard Coverage Policy-1963 SCHEDULE C The land referred to in this policy lS situated in the county of Los Angeles, state of California, and is described as follows: The westerly ~7.00 feet of lot 8 of Tract No. 9282, in the city of Arcadia, county of Lo~ Angeles, state of California, as per map recorded.in .book l25page 6 of Maps, in the office of the county recorder of said county. .., ~. , . TOr~4Vr: ,. EAST ~ WALNUT AVE:. \J '> " - /:35.63 '" 100 100 130Z't \') I '" HOLL '" 6o'vv t- '<l 192.67 "- "- In 2. .... ~ <:() t-- "l '" N '0 190:/3 '" '" oi oi >- 0 5 ... 6 '" !'- \() 3 ... '" OJ OJ \Q 't 18753 '" .t-- 4- '<l In ~ '<l 185.05 '" 85 85 355.05 g{ Cl 7 ~ I cr> '" ~ 346.62 :) - I 130 ~ <:) Cl 81 "l ~ 1 '" 328.d '" ~ -- 198.13 t-- 65 1 65 N .... \() 3 ~ I S \Q 188.49 '" I Q t-- 1 \() 10 N I ...1 '0 -i 1 <( 178.79 '" ~ I ~ \'0 Cl II ~ '<i 13 '" ",. o,!l \{) '" , '" 163.89 '" 1 '" 55 1 '" I - Cl /2. '" I Cl <ti I /902.0 /0 - ~. -9 I I-/OLLY 154.91 65 i 65 GO'WI TO Y AVE IDE 55 ~ c::. c::. \() .., " <:() ~ :A~r 1 o '=- TO AVE DE ~ PALM WEST DR.. TRACT N9 9282 @ This is not a survey of the land but is campi/eel 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) . Ille full amount of this policy, togecher with all costs, attorneys' fees and expenses which the Company is obligated hereunder to pay, shall tt'fminate all liabi]ity of the Company hereunder. In the event, after notice of claim has been given [() the Com- paoy by the Insured, the Company offers to purchase said indebtedness, the owner of such indebtedness shall transfer and assign said indebtedness and the mortg.ll;e securing the same to the Company upon payment of the purchase price. 7. PAYMENT OF LOSS (a) The ]iabiliry of rhe Company under this policy shall in no case exceed, in all, the actual loss of the Insured and (().~rs 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, ;III costs imposed upon the Insured in I iti- 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 receivcd notice of an alleged defect, lien or encumbrance not excepted or excluded herein removes such defect, lien or encumbnlOce within a reasonable rime 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 title is reje<ced as unmarketable because (if a defe<:t, lien or encumbrance nO! excepred or excluded in this policy, uOIil 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, shaH reduce the amount of the insurance pro tanto and no payment shall be made without producing this policy for endorsement of such paymenc unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnishNl to the satisfaCtion of the Com. pany; provided, however, if the owner of an indebtedness secured by a morrga~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 ro such Insured, except ro the extent char such paymeots reduce the amount of the indebtedness se<ured by such mort- gage. Payment in full by any person 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, excepr as pro. ., viJeJ in paragraph 2 hereof. (e) When liabi]ity has been definitely fixed in accordance wirh 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. mcnt to the Insured under this policy. The provisions of chis paragraph numbered B 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 O. 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 subrogaced 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 che amount of said loss. If loss should rl'sult from ;lnr act of the In. sured. such act shall not void this policy, hut the Company, in that event, shall be required to pay'only that pat{ of any losses insured alO:ainst hereunder which shall ex. ceed the 'amount. if any, lost to the Com. pany by reason of the impairmenl of the right of subro~ation. The Insured. if re- quested by the Company, shall transfer to the Company all rights and remedies agaiQst any person or property necessary in order to perfr-cc su(h right of .<;obrogation, and shall permit the Company to use the name of the Insured in any transaction or litigation involvin~ 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 modify the terms of payment, or release a portion of the estate or interest from the lien of the mortgage, or release any co]- 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 thl' mortgage covered by this policy or the tide of the estate or interesc 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 validating officer of the Company. 11. NOTICES, WHERE SENT All notices required to be given the Com- pany and any statement in writing required 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 Ange]es ;;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 FOUNDED IN lB"3 POLICY OF TITLE INSURANCE Offering complete title services throughout the state of California with just one local call. Complete title services also auailable 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