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HomeMy WebLinkAboutD-1619 ~ oJ " '. ,~ ',' , t ,->\~ , . CERTIFICATE OF ACCEPTANCE ~K 03967rG 160 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 April 2, 1968 , from or executed by Joseph Hobart, Mary A. Hobart and Mary Jayne Hobart , is hereby accepted by the City of Arcadia 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 the City of Arcadia consents to the recorda~ton thereof by its duly fficers. ~ o cU;)f ~I City Engineer The document thus described is hereby approved a~ ~~ ~ --~ ~ /~~~y Att Y . "-~CORD'NG REQUESTED_BY ~ 250 ;..__u._~ ~K D3967rC 159 D-/~/9 .. 'CnY'OF ARCADIA nE(:O!t0ED IN OFFICIAL RECORDS or [_OS r...r..;Cl[LES COUNTY. 'CALIF. ;'OR TiTLE INSURANCE & TRUST co. AND WHEN RECORDED MArL TO APR 11 1968 AT 8 A.M, r-: Nom, City Clerk $t"el p.O. Box 60 Addr,.. Cily & Arcadia, Calif. SIal, L MAil TAX STATEMENTS TO r-: Nom' City of Arcadia 51,." Add"" Cily & L Stol' I AA '(f. LEE. County Recorder . . ~ , FREEVR . , SPACE ABOVE THIS LINE FOR RECORDER'S USE I ; - ~ - - ~ ~ . ---.... . .J.. 1968 ~ .,..... . .~ *- IS TO "05 C (".67> Grant Deed I O.T.S. . AFFIX ~ S ~ ' .k. .............. AIioVE THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, JOSEPH HOBART, MARY A~ HOBART and MARY JAYNE HOBART \ ~ hSJeby GRANT(~ to the CITY OF ARCADIA a Municipal Corporation ~?fM /N '-rE ' , ~~/' ~~ g~~Qmg~t 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 Counlyof Los Angeles City of Arcadia, , State of California: The westerly 17.00 feet of. Lot 12 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. EXCEPT therefrom the South 10.00 feet of said land. . FREE RECORDING REQUESTED ESSENTIAL TO ACQUISITION BY The City of Arcadia SEE Gov't Code bl03 cZl?6f'" , J I ../ ~~ l oep~~ f?/,~ ~ ' y. 0 art -1~ ~J~bart ~ ..., THIS NECE~SARY IN CI:fAINOF IJILE Dalcd ~ >- i I '" 0 i i Ui ! ~: u , lu U ; , ; i , ) , , .) .' }SS. before me, the under- otary Public in and for said State, personally appeared Hobart, Mary A. Hobart, Marv JayQe On signed. a Josep Hobart to be the perso~whose namps are instrument and acknowledged that . they WITNESS my hand and official seal. . known to me subscribed to the within executed the same. Signature ~ OFFICIAL SEAL FLORENCE E. NEERGARD NOTARY PUBLIC. CALIFORNIA LOS ANGELES COUNTY MyCommission Expires Mar. 4, 1972 P. o. Box 60, Arcadia. Calif. : F/..oRE:Nce E. AJeE.R. Name (Typed or Printed) (Thl~ lll'en fOI' olTlcilll nf>!lrlll\ ~ell.l) . ,~\ Title Order No. (; 7>rJ7 Q I Escrow or Loan No. MAil TAX STATEMENTS AS DIRECTED ABOVE '\ -:. ,. . .' ~ , ; / J. fJ . ."~' I u:. I .' . d.. r.l~' I. ~ . ) I;'::?~ ';);..'.'; i. ~4 ,-~ .~~~; t;r}:l. , ~ J~,~"t.~"~~~,, '.) . ,; . _ .~"':'~:l~f~~:;~.,;::'i.i-" " 1 &.. ~ 'I:); ,:.: ,'; _ V '.;,.-!;;:_.~" . ,.,~,.,.,\i;.:.).;,:~r~~~~~";' ./ I . , .. '. .'j ,~, ., f I GRANT DEED . GRANT DEED Title Insurance and Trust Company Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL .-... . ~. ..' " '. .,"' <II~..... , .,. ....... it I :,& ': . . . . . . MARK H. BLOODGOOD AUDITORoCONTROLLER IJ~/t/j COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER ROBERT A. GtLL CHIEF DEPUTY J R. PASSARELLA, CHIEF. TAX OIVIStON 15:3 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 Re: Baldwin Avenue Parcel NO. 67 Joseph Hobart, Mary A. Hobart Jayne Hobart - Grantors RECEIVED FES 27 19fiC) .CITY OF ARCAn ... C!1Y "~.1TOR!'l~~Y Gentlemen: Pursuant to your letter dated May 9, 1968, taxes have-been cancelled in accordance ~ith Section ~986 of the Revenue and Taxation Code. This cancel- lation ~as ordered by the Honorable Board of Super- visors October 22, 1968 by Authorization No. 06150. Very truly yours, llATIK 11. BLOODGOOD, Auditor-Controller {je. By J. R. Passarella, Chief Tax Division JRP/EIW/tc CITY, COUNCIL DON W. HAGE MAYOR City of Arcadia c. ROBERT ARTH "'''YOR 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: 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 ADDRESSES CITY HALL P. O. BOX 80 91008 LIBRARY 20 W. DUARTE ROAO 9100e POLlCE DEPARTMENT P. O. BOX eo 91005 FIRE DEPARtMENT 7105. SANTA ANITA AVE. 910015 TELEPHONES 448.4471 . 681-02715 446.7111 4"7.2121 446.2128 ~. f~' TO 1012-1 Fe (10.67) C(llifo'nio Lond Title Auociatiol'\ Standard Coverage Policy Form Copyright 1963 POLICY OF TITLE INSURANCE ISSUED BY Title Insurance and Trust Company Title Insurance and Trust Company, a California corporation, herein called the Company, for a valuable consideration paid for this policy, the number, the effective date, and amount of which are shown in Schedule A, hereby insures the parries named as Insured in Schedule A, the heirs, devisees, personal represenrariv~s of such Insured, or if a corporation, its successors by qissolucion, merger or consolidation, against loss or damage not exceeding the amount stated in Schedule A, together with COStS, atrorneys' fees and expenses which the Company may become obligated to pay as provided in the Conditions and Stipulations hereof, which the Insuted shall sustain by teason 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. t:xisting 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 .~. Any defect in rhe 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 liell or charge of said mortgage upon rhe estate or inlerest referred to in this policy; or 4. Priority over said mongage, ur the date hereof, of any lien or encumbrance not shown or referred to in Schedule B, or excluded from covera-ge in the Conditions and Stipulations, said m'ortgage being shown in Schedule B in the order of its priority; all subject, however-;~l'o't~''\:p)~~isions of Schedules A, Band C and to the Conditions and Stipulations- --" "\'\ hereto aooe~ed;:- ~c<- AND ity" \1 ~ ~~ 0000000 V.$ 'I ;,,, oo~~ IS PF/O~oo l' IJ P' 0 oo~.o ".'[ W'.o, r\W7.'h f . I d d . jt ~ oo~ I;'~.(li-~BEJ .!1~_.... z!nl!.ssc-(, ereo J Tit e Insurance an Trust Company has cause Its ~ ;; 00 ~ ~r,. ~co.)-1i.6ra.t~;8.amg.a~d seal to be hereunto affixed by its duly authorized officers ~ .../ gL~ljoI,Yi:h~d'ili,,~h~n~{n Schedule A. r. I- 0 AA' ';iJ1r--e~0 y ~ ~ - 0 -_~ A..:;~ -<~'-A\ g 2: ~ Z r- ';, ;J#~~~~?"~;_co -< % 'I. 0 -^ ':Iif;.' >#1' '..'i'.", 0 ~ ~) {! o+":.:'>,","~ ~\dl/~'voo * i!: '1 0,. -"P' ,>",,'vo ~ "1 <,()oof~"Il;~,~'GV>~~oo ~'f III .$-4 00000000 c'?-v.: \\\\ NGELES, .$' \\\\\.\.,'~,~ Title Insurance and Trust Company by ~~~~NT Atlefl ~ lif-~ SECRETARY CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS The following terms when used in this policy mean: (a) "land": the land described, specific- ally or by reference, in Schedule C and improvements affixed there[Q which by law constitute real property; (b) "public records": those record.~ which impart constructive notice of matters relating to said land; (c) "knowledge" actual knowledge, not constructive knowledge or notice which may be imputed [Q the Insured by reason of any public records; (d) "date": the effective date; (e) "mortgage.'; mortgage, deed. of trust, trust deed, or ocher security instrument; and (f) "insured": the party or parties named as Insured, and if the owner of rhe in- debtedness secured by a mortgage shown in Schedule B is named as, an Insured in Schedule A, the Insured shall include (1) each successor in interest in ownership of such indebtedness, (2) any such owner who acquires the estate or interest referred to in this policy by foreclosure, truStee's sale, or other legal manner in satisfaction of said indebtedness, and (3) any federal agency or instrumentality which is an in- surer or guarantor under an insurance con. tract or guaranty insuring or guaranteeing 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 insuct'd owner of the indebredness secured by a mortgage described in Sched. ule B acquires said estate or interest, or any part thereof, by foreclosure, rrustee.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 rhereof, 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, thi5 policy shall continue i.n force i.n favoc of such Insured, agency or instrumentality, subject to all of the conditions and stipula- rions 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 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 hereafter erected on said land, or prohibiting a separation in ownership or a reduction in rhe dimensions or area of any lor 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 records ;It the date hereof. (c) Title to any property beyond the lines of rhe land expressly described in Schedule C, or title to streets, roads, ave- nues, lanes, ways or waterways on which such land abuts, or the ri~ht to maintain therein V;lults, 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 abuttin~ owners for access to one of such streets or highways, unless otherwise excepted or excluded herein. (d) Defects, liens, encumbrann:s, adverse claims against the title as insured or other matters (I) created, suffered, assumed or agreed to by the Insured claiming loss or damage', or (2) known co 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 rhe 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 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 mon- 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 lasr reson. (b) In case any such action or proceed- ing shall be begun, or defense interposed, or in case knowledge shall come to the In- sured of any claim of title or interest which is adverse to the title of the estate or in- terest or lien of the mortgage as insured, or which might cause loss or damage for which the Company shall or may be liable by virtue of this policy, or if the Insured shall in good faith contract to sell the in- debtedness secured by a mortgage covered by this policy, or, if an Insured in good faith leases or contracrs to sell, lease or mortgage the same, or if the slJccessful bidder at a foreclosun: 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 rhe Comp.my of any de- fecr. lien or encumbrance insured ag:linsr 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 rhe 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 shaIl 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 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 not thereby concede ]iability 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 Insured shall give the Company all reasonable aid in gny such action or proceeding, in effe-<ting settlement, securing evidence, obtaining witnesses, or prosecu- ting or" defending such action or proceed- ing, and the Company shall reimburse the Insured for any expense so incurred. 5, NOTICE OF LOSS - LIMITATION OF ACTION In addition to the notices required under paragraph 4(b), a statement in writing of any loss or damage for which it is claimed the Company is liable under this policy shall be furnished to the Company within sixty days afrer such loss or damage shall have been derermined. and no right of action shall accrue to the Insured under this policy until thirty days after such statement shall have been furnished, and no recovery shaH be had by the Insured under rhis policy unless action shall be commenced thereon within five years after expiration of said thirty day period. Failure to furnish such statement of 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 rhe option to payor setrle 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 indebtedness 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 Page of This Policy) mc TO 1012.1 AB C Califo~"io Land Title Association Standard Coy.rogo Pollcy-1963 SCHEDULE A PremiUITI $ .cf/tJ. 6 d Amount $ 2,000.00 Effective DaM April 11, 1968 at 8:00 a.m. Policy No 6739731 INSURED CITY OF ARCADIA, a municipal corporation. 1. Title to the estate or interest covered by this policy at the date hereof is vested ill: CITY OF ARCADIA, a municipal corporation. ,. 2. The estate or interest ill 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. Tnx~s or AssesSments which are not shown as existing 'liens by the records of any taxing authority that levi~s 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. 4<. DiSCrepancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a corn:!ct 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. /1,rll- TO 1012_1BCCont, C . Collfornla Land Till. ....uaclatlon Standard eo".rag. Polic;y-1963 SCHEDULE B- (Continued) PART II 1. General and special county and city taxes for the fisca~ year 1968-1969, a lien not yet payable. 2. Covenants, restrictions Executed by Recorded conditions and restrictions in the declaration of conditions John J. Granville and wife prior to February 15, 1950 page 344, Official Records and restrictions have been in book 4862 Said covenants, an instrument Recorded modified by prior'to February 15, 1950 in book 5670 page 101, Official Records Said covenants, conditions and restrictions ha've been incorporated by' reference thereto in a deed Executed by : California Trust Company. Recorded : prior to February 15, 1950 in book 11796 page 57, Official Records Which provide that a vio1at.1on 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 easement purposes stated In Favor of For. Recorded Affects affecting the portion of said land and for the herein, and incidental purposes California Trust Company : pole lines and conduits : in book 11796 page 57, Official Records : the rea'r 4 feet. 4. 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. 67. Notice of the pendency Recorded of said action was, : March 22, 1968 in book M 2807 page 805" Official Records, as instrument No. 3066 5. The following provision of the deed from Joseph Hobart, Mary A. Hobart and Mary Jayne Hobart, to the City of Arcadia, a municipal corporation, recorded April 11, 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 l012-1-I056-1C C:> American land Title AssociatIon Lean Polley Additi()nal Coverage-1962 0' Califotnia Land Title Association StandQrd 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 12 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. EXCEPT therefrom the south 10.00 feet of said land. . TC) Z34 VC ~ 6AR/8At.OI ~ lIVE. \ Nor a p'1I'-f or-fl7iS fracr AVE. \ TRACT NO. 6/8/ M 8. 66-84 @ 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) ,he full amount of thjs poJjcy, toger}wr with all COstS, attorneys' fees and expens~s which the Company is obligated hereunder to pay, shall terminate all liability of the Compaoy hereunder. In the event, after notice of claim has been given to the Com- pany by the Insured, the Company offers to purchase said indebtedness, the owner of such indebtedness shall transfer and assi~n said indebtedness and the mortga~e securing the same to the Company upon payment of the purchase price. ..7 7. PAYMENT OF LOSS (a) The liabiliry of the Company under this policy shall in no case exceed, in all, the actual loss of the Insured and costs and atwrneys' fees which the Company may be oblil/:ated hereunder to pay. (b) The Company will pay, in addition to any Joss 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 rhe 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 removes such defect, lien or encumbrance within a reasonable time after receipt of such notice. or '(2) for liability voluntarily assum('d 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 defect, lien or encumbrance not excepted or excluded in rhis policy, until there has been a final dett;>rmination 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 alllount 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 furnishe-d to the satisfaCtion of the Com- pany; provided, however, if the owner of an indebtedness secured by a mortga<~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 reduc<." the amount of the indebtedness secured by such mort- gage. Payment in full by any person or voluntarr satisfaction or release by the In- sured 0 a mortgage covered by this policy shall terminate all liability of the Company to the iosured owner of the indebtedness secured by such mortgage, except as pro- vided in paragraph 2 hereof. (e) When liability has bee-n 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 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 shaH 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 an of the In- sured. such act shall not void this policy. but the Company. in that event. shaH be reqUired to pay only that part of any losses insured a~ainst 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 ri~hts and remedies against any person or property necessary in order 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 the persona] 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 starus of the lien of the mortgage covered by this policy or the title of the estate or inreresr 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 writin~ endorsed herf'on 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 CUOl- pany and any statement in writin~ required to be furnished the Company shall be ad- dressed to it at the office which i.~sueJ this policy or to its Home Office, 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 I'"OUNDED IN '''''=- 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. v Title Insurance and Trust. Company. 433 South Spring Street Los Angeles, California 90054