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