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HomeMy WebLinkAboutD-1625 , ! '/~ '~< <:f ,.1 CERTIFICATE OF ACCEPTANCE ~ ~ 0397 /r G 182 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 3, 1968 , from or executed by Sue Wallin , 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 County; and the City of Arcadia consents to the recordation thereof by its duly authorized~fficers. ~ The document thus described is hereby approveQ ~ c:.n ~ ~;y~ City Engineer as to form. ~~~: C~ty ~' r, CIlY OF ARCADIA 251 IJn U.J::11 , r [j '01 b- /c..:? C- AHD WHEH RIECOROIEO ""AIL TO RECORDW IN OFfiCIAL RECORDS' OF LOS ANGELES COUNTY CALIF FOR TITLE INSURANCE & TRUST co. APR 16 1968 AT 8 A.M. RAY E. LEE, County Recordet I Nom' City Clerk P.O. Box 60 I SIr... Addr'., City & Arcadia, Calif. Slot'L -.J SPACE ABOVE THIS LINE FOR RECORDER'S USE MAil TAll. STATEMENTS TO I City of Arcadia I Cily & Slol'L --.J ~ I FREE::}---G I Nom, Str_1 AddrllU Grant Deed AFFIX Sr.;' j~u .......... ABOVE TO <lO!} C <<1.67) THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY f'OR A VALUABLE CONSIDERATION, receipt of which is herehy acknowledged, SUE WALLIN, a Married Woman, hereby GRANT(S) to the CIlY 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, in, on, upon and across the following described real property in the ~it~, of A..::~j.~~~ County of Los Angeles , State of California: The northeast 12.00 feet of the southeast 80 feet of the northwest 212 feet of Lot 5 in Block "0" of the Santa Anita Land Company's Tract, in the City of Arcadia, County of Los Angeles, State of California, as per map recorded in Book 6, Page 137 :'of Maps, in the office of the 'County Recorder of said County. ~ ) FREE RECORDING REQUESTED ESSENTIAL TO ACQUISITION BY The City or Arcadia SEE Gov't Code 6103 >- >- en '" z CJ :":'1 W ~ ~...: i~. u r,. vJ 3: U (; ... a. '" U cO .u CJ rHIS NECESSARY IN CHAIN OF TITLE Dated (fA<l 3 /?tf' , (eLK., walr{1~U '. }.~S ~ ~ On before me, the under- signed, a ! tary Public in and for said Slate, personally appeare;r Sue Wallin , known '0 me to be the person_whose name is subscribed to the within instrument and acknowledged that she executed the same. WITNESS my hand and officia.I ,c.1. , () Sign.'me 7(4--lPAAA'R 6, )~ /, d . [::L.OI{ c~"i:. r=_ ).lei'/!. ()'Aa-O Name (Typed or Printed) -~-~ OFFICIAL SEAL FLORENCE E. NEERGARD NOTARY PUBLIC. CALIFORNIA LOS ANGELES COUNTY MyCommission Expires Mar.4,1972 P. o. Box 60, Alcadia, Calif. .. (Thl~ lll"a for "nidal notarilll Ileal) Title Order No. Fscrow or Loan No. MAIL TAX STATEMENTS AS DIRECTED ABOVE ---!! "" .... ' GRANT 'DEED Title Insurance and Trust Co~pany ,- COMPLETE STATEWIOE TITLE SERVICE WITH ONE LOCAL CALL /~' , , "n r- ;.;j , , , . ~~ '" 5. ,) , -, . >, j " ::~.'~ . , ' , , " I I " , , .1 , ~; GRANT DEED Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL .... .. \ ~~ ... ,~> ,...... -.. ..r . ..~. " 4t.. . . . . . "'( io!' MARK H. nLOODGOOD AUDITOR-~ONTROl.I..ER ,~ COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER ROBERT A. GILL CHIEF DEPUTY J. R. PA5SARELLA. CHIEF, TAX DIVISION 153 HALL OF ADMINISTRATION LOS ANGELES. CALIFORNIA 90012 82~.361 1 March 27, 1969 RECEiVED APR - 2 1969 City of Arcadia 240 West Huntington Drive Arcadia, California 91006 ClTY OF ARCADIA . ~rT): ATTORNEY. Attention: Robert D. Ogle City Attorney Re: Baldwin Avenue Parcel No. 79 Gentlemen: Pursuant to your letter dated May 9, 1968, taxes have bsen cancelled in acc..rdance with Section 4986 0f the Revenue and Taxati0n CJde. This cancel- lation was ordered by the Honorable Board ~f Super- visors Oct. 29, 1968 by Authr,rization N'J. 06344. Very truly y':urs, ~ BW DGOOD, Auditor-Contr011er ~J J. R, Pase8rella, Chief Tax Di.;,ri2:~::m JHPjEMP/ejd , CITY COUNCIL DON W. HAGE MAYOR City of Arcadia c. ROBERT ARTH MAYOR PRO TEl.( E[)WARD 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. 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. 7Q Dear Mr. Passarella: Please cancel as of the date of recording all taxes on the property described in the enclosed copy of deed. This prop- erty is part of a larger parcel acquired for street widening purposes. There is no building on it. Very truly yours, ~~ RO T D. GLE City Attorney RDO: jh Ene. 1- MAILING ADDRESSES CITY HALL P. O. BOX eo 91008 LIBRARY 20 W. DUARTE ROAD 91008 POLICE DEPARTMENT P. O. BOX eo 91008 FIRE DEPARTMENT 710 S. SANTA ANITA AVE. 91006 TELEPHONES 4415.4471 . 651-02.78 448.7111 447-2121 448_~ 128 r {J../'P-^-. . , TO 1012-1 Fe (10-67) California land Tille A$lociation Standord Coverage Policy Form Copyright 1963 POLICY OF TITLE INSURANCE ISSUED BY Title Insurance and Trust Company Tide Insurance and Trust Company, a California corporation, herein called the Company, for a valuable consideration paid for this policy, the number, the effective date, and amount of which are shown in Schedule A, hereby insures the parties named as Insured in Schedule A, the heirs, devisees, personal representatives of such Insured, or if a corporation, its successors by qissolurion, merger or consolidation, against loss or damage nor exceeding the amount stated in Schedule A, coger her with COStS, attorneys' fees and expenses which the Company may become obligated co pay as provided in the Conditions and Stipulations hereof, which the Insured shall sustain by reason of: 1. Any defect in or lien or encumbrance on rhe title to the estate or interest covered hereby in the land described or referred to in Schedule C. existing at the date hereof, not shown or referred to in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulations; or 2. Unmarketability of such title; or .~. Any defect in the execution of any mortgage shown in Schedule B securing an indebtedness, the owner of which is named as an Insured in Schedule A, but only insofar as such defect affects the lien or charge of said mortgage upon the t'state or interest referred to in this policy; or .1. Priority over said mortgage, at the date hereof, of any lien or encumbrance not shown or referred to in Schedule B, or excluded from coverage in the Conditions and Stipulations, said m'ortgage being shown in Schedule B in the order of its priority; aU subject, howev,~~t0'1~~)~~lsi~.r( of Schedules A, Band C and to the Conditions and Stipulations- hereto aonex.ci~ ~CE AND .,.~~ \\\1 ~ ~\" 000000000 .$'" 'I - ,'. oou~ IS PF/O 00" Ii &:1"G)""oo~O'f" -,....o/) \ .::;' ~ oO!<, ...9~';'CjJ;;1!1~Jrl~1!t!SS~rereof, Title Insurance and Trust Company has caused its I " 00 ~ >'l* ;JcorR~rat~;8aIl1e.a~"'d seal to be hereunto affixed by its duly authorized officers ~ I<J o~ . ".<~h' d..... ~h.... '.' h d A ~ ...J oL.>-~ on't e.. ate\s o~nHn Sc e ule . % I- 0 aA. A-"~ I~\-"O ~ ~ ~ _ 0 -;.~ <l~ -"'Jb1L&li'\ 0 Z % ~ I- ~ '/~),.~'-:~.~i1AA...:g -.: ~ ~ 0 A 1i~u..r!:'~ l/r Qg :; 'JJ -{r 07~ '._."'.. _I .d'~'vo:} ~ "1 00'. '" 7 .~"""'. "?" ....~voo J? "1 <'0 oo~r"iE IS (;\)000 ~..: III .$' -4 00000000 ,,;v"'. .:- \\\\ NGELES. ~ \\\\\.,'"'~~- Title Insurance and Trust Company by ~~~~NT Attest 0W lif-~ SECRETARY CONDITIONS AND STIPULATIONS 1. DEFINITION OF TEll:MS The following termS when used in this policy mean: (a) "land": rhe laad described, specific- ally or by reference, in Schedule C and improvements affixed thereto which by law constitute ceal propertY; (b) "public records": those records which impart constructive notice of matters relating to said land; (c) "knowledge": <1ctual knowledge, not constructive knowledse or notice which may be imputed ro tDe 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 panies named as Insured, and if toe owner of the in- debtedness secured by a mortgage shown in Schedule B is named as. an Insured in Schedule A, the Insuted 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, trusree'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- traC[ or guaranty insu.ring or guaranteeing said indebtedness, Of any part thereof, whether name-d as an insured herein or not, subject otherwise to the provisions hereof. 2. BENEFITS AFTER ACQUISITION OF TiTlE If an insured owner of the indebredness secured by a mortgage described in Sched- ule B acquires said estate or interest, or any part rhereof, by foreclosure, trustee's sale, or other legal manner in satisfacrion of said indebtedness, or any part thereof, or if a federal agency or instrumentality acquires said esrate 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 rhis policy, or any part thereof, this policy shall continue in force in favor of such Insured, agenCY or instrumenrality, subject to a1l 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 ch:lracter, dimensions, or location of any improvement no",' or hereafter erected on said land, or prohibiring a separation in ownership or a reduction in the dimensions or area of any lot or parcel of land. (b) Governmental fights of police po\\.er 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 rhe lines of rhe land elCpressly described in Schedule C, or ritJe W streets, roads, ave- nues, lanes, ways or waterways on which such land abuts, or the rif:ht to maintain therein vaults, tunnels, ramps or any other structure or improvement; or any rights or easements therein unless this policy specific- ally provides thar such property, rights or easements are insured, except that if the land abuts upon one or more physically open streets or highway.~ this policy insures the ordinary ri,ghts of abutting owners for access to one of such streets or highways. unless otherwise excepted or excluded herein. (d) Defects, liens, encumbrances, adverse claims against rhe ritle as insured or other matters (1) created, suffered, assumed or agreed to by the Insured claiming loss or damage; or (2) known to the Insured Claimant either at the date of this policy or at the date such Insured Claimant ac- quired an estate or interest insured by this policy and not shown by the public records. unless disclosure thereof in writing by the Insured shall have been made to the Com- pany prior to the date of this policy; or (3) resulting in no loss to the Insured C]aim- ant; or (4) attaching or created subsequent to the dare 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 againsc 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 rhe 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 esrate 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 ]iable by virtue of this policy, or if the Insured shall in good faith contract to sell the in- debtedness secured by a mortgage covered by this policy, or, if an Insured in good faith leases or contracts to sell lease or mortgage the same, or if the' successful bidder at a 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 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 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- feCI, 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 tide, then all liability of the Company in regard to rhe subject matter of such action, proceediog or matter shall cease and terminate; provided, however, that failure to norify 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 shaH have [he right at its own cost to institute and prosecute any action or proceeding or do any mher act which in its opinion may be necessary or desirable to establish the title of the estate or imerest 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 nor 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 ddense of any action or proceeding, the Insured shall secure to it rhe 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 .any such action or proceeding, in effecting settlemem, 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 after 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 shall be had by rhe Insured under this policy unless action shall be commenced thereon within five years after expiration of said rhirry day period. Failure to furnish such starement 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 the 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- ch:;.se, payment or tender of payment of (Conditions and Stipulations Continued and Concluded on Last Poge of This Policy) f" me '. TO 1012-1 AS C California Lond Title Association Stondard Cove.rage Policy-1963 SCHEDULE A Prelniurn $ ..yL'tJ.. ~ Amount $ 2, 000 . 00 Effective Date April 16, 1968 at 8:00 a.m. Policy No 6739756. 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 in the land described or referred to III Schedule C covered by this policy is a fee. SCHEDULE B c 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 recC!rds, 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 correct survey would disclose, and which are not shown by. the public records. 5. Unplltented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. I<B TO 1012.1B Cont. C. Collfarnla Land Title Anadatlan Standard CoVerage Policy.1963 S C H E D U L E B - (Continued) PART II 1. General and special county and city taxes for the fiscal year 1968-1969, a lien not yet payable. 2. The right to develop water and also all the right~ of way for and rights of way to repair and maintain pip~s for conducting water over and acro,ss' the' herei,nbefore described prope:rty ,in any way heret:o.fore 'refeTred to, by conveyance.' from E. J. Baldwin or otherwise;: it being the intention hereby to convey to the parties of the second part hereto, all the 'water rights-and right to maintain and repair'pipes arid pip,e lines and to en'ter upon the .J.ands hereinbefore described for'all purposes in connection therewith hereto- fore or no~ owner or posses~ed by the saiq party of the first part, and the party of the first part also conveys to said parties of the second part,. all other right,s of entry or , rights of way which it now, owns 'or p'ossesses, as reserved in deed from Santa Anita Land and Water Company, to Edward C. Cribb and R. T. Brode, recorded in book 3035 page 192 of Deed's. ' 3. A right of way for laying and operating a pipe line for conveying water to and through property hereinbefore described, as reserved in deed from Santa ~nita Land Company, recorded prior to February 15, 1950 in book 55 page 171, Official Records. 4. Covenants, conditions and restrictions in the above recorded instrument. 5. An easement purposes stated In Favor of affecting the portion of said land and for the herein, and incidental purposes, , L. J. Flaherty and Cora E. Flaherty, husband and 'wife March 20, 1952 in book 38518 page 105, Official Records the southerly 5 feet of said land, except the north 1.75 feet of the westerly 25 feet,; , Recorded Affects 6. An easement affecting the portion of'said land and for the purposes stated herein, and incidental purposes In Favor of county of Los Angeles For : construction, maintenance~and operation and use of a storm drain Recorded Deciember 31, 1952 in book 40638 page 332, Official-Records Affects the southerly 5 feet. . 7. 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 Cqunty public right of way parc'el No. 79 Case No. Nature of Action Affects Notice of the pendency of said action was Recorded March 22, 1968 in book M 2807 page 805, Official Records, as instrument No. 3066 8. The following provision of the Deed from Sue Wallin, a married woman, to the City of Arcadia, a municipal corporation, recorded April 16, 1968. "Grants to the City of Arcadia, a munidpal corporation, in fee' for public street and road purposes, to become a part of and to be known as Baldwin Avenue." . ,. ~ TO l012.1-1056.1C C AmeriCCln land Titlll Anoclolion loon Policy Additional Coverage-1962 0' CalHorr,io land Title Auocialion Standord 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 northeast 12.00 feet of the southeast 80 feet of the northwest 212 feet of lot 5 in block "0" of the Santa Anita Land Company's Tract, in the city of Arcadia, county of Los Angeles, state of California, as per map recorded in book 6 page 137 of Maps, in the office of the county recorder of sa.id county. ~ ~. . TO ~3C5 VC ---" ... .,' PO.:\TIGN O~!' LOT:; J!I p.r,OCT( () OP f\!\!JT!\ L/\i!D COi\,;PANY ,'S . TRACT s^~!rrr" . " , i;::;\';if" c, ,'" .J;'fJcr , c. c c ':~~~~:' · ml~;~ ~, " ",.,1._,~,., . ;..-01' " --- "~ "~-:~:1l ~ ilf () ~>l~,'" 'l'~:~:,):t-:~.~y~>-- -*~i' JI . f, . ~~ ~ m, , ,'~ ',' . 't< 'v" .t. ::: :.:~~5' I'" ~~lr: ,. \ ,,'. a ,'. J,hk-~; -~ ;,"'1' -c~,.. "/!;'!:i'-ti;"'/ - .'- , .,<-::,:.'.,.,V','" . tP );- r o ~ ~' "- ~ "2- ~5S ) ~ /j>:;: ~ j.< / , ~.~,< 'Il' ,t; t..~ . .~ ~ i':\" q ... '.. , ""'1' , . , . "I..'~':? ~. "'.j" , '. ..''': -' " . ..~ @ 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 Fram Reverse Side of Policy Face) the full amount of this policy, together with .111 COSIS, attorneys' fees and expenses which the Company is obligated hereunder to pay, shall terminate all liability of the Company hereunder. In the event. after nlHice of claim has been given to the Com- pany by the Insured, the' Company OffNS to purchase said indebtedness, the owner of such indebtedness shall transfer and assign said indebtedness and the mottgal:;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 al/. the actual loss of the Insured and costs and attorneys' fees which the Company may be obligated hereunder to pay, (b) The Company will pay, in addition to any loss insured against by this policy, <.III CO~ts imposed upon the Insured in Iiti. 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 (1) if the Company, after having received notice of ..w alleged defect, lien or encumbrance not excepted or excluded herein removes such defect, lien or enrumbrance within a reasonable time 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 rejected as unmarketable because o"f a defect, lien or encumbrance not excepted or excluded in this policy, until there has been a final determination by a court of competent juris- diction sustaining such rejeCtion. (d) AU payments under this policy. ex- cept payments made for costs, atrorneys' fees and expenses, shall reduce (he amOunt of the insurance pro tanto and no payment shall be made without producing this policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnished to Ihe satisfanion of the Com. pany; provided, however, if {he owner of an indebtedness secured by a mortgage shown in Schedule B is an Insured herein then such payments shall not reduce pro tanto the amount of (he insurance afforded hereunder as [Q such Insured, except to tbe extent that such payments reduce the amount of the indebtedness secured by such mort- gage, Payment in full by any person or voluntary satisfaCtion or release by the In- sured of a mortgage covered by this policy shall terminate all liabiliry of rhe 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 the Insured under this policy. The provisions of this paragraph numbered 8 sbaH not apply to an Insured owner of an indebtedness secured by a mongage shown in Schedule B unless such Insured acquires title to said es-tate or interesr .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 shall be subrogated to and be entitled to all righrs 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 resuh from an\' act of the In. sured. such act shall not ~nid this policy, bllt the Company, in that event. shall 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 ft'. quested by the Company, shall transfer to the Company all ri~hts and remedies against any person or property necessary in ord(:r to pt:rfect such right of subrogation, 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 mnrtgage 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 paymenr, 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. \'ided such act does not resuh 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 title 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 endorsed hereon or attached hereto signed by (he President, a Vice President, the Secretary, an Assistant Secretary or other validating officer of the Company. 11, NOTICES. WHERE Sf:NT All notices required to be givl;n the Com- pany and any statement in writin~ 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 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 ..OUNOIl:O 'N ""'3 POLICY OF TITLE INSURANCE Olfering 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 Lo. Angele., C..likmi.. 9005~