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HomeMy WebLinkAboutD-1628 " '-.\, I~ i .. 'i '. '. CERTIFICATE OF ACCEPTANCE ~K 03969 PC 760 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 1, 1968 , from or executed by Harold Edgar Howsley and Inez Lillian Howsley , 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 authori officers. . ,> ~ I-lo CD ac'A X ~/~ Ci ty Engineer is hereby approved as to form. ~~ ~--, . CITY OF ARCADIA 319 -.. --_.....VI 1." u.,J O-)b~~) I City Clerk 'I RECORDED IN OFFICIAL RECORDS OF L03 ANGELES COUNTY. CALIF. FOR TITLE INSURMJCE & TRUST CO, AND WHEN I'tf:COI'tD~D MAIL TO Name APR 15 1968 AT 8 A,M. Street P.O. Box 60 Addreu RAY E, LEE" County. Recordec C;I, & Arcadia, Calif. StoteL -.J City & Sta,eL APR 1 RECORDER'S USE MAIL TAX STATEMEtus TO I City of Arcadia I $1.65 I FREE '7 ---:G I Nome Strellt Addreu -.J ~, Grant Deed AFFIX I.R,S, S rr~~~-::"~ ~-_~_- ~ 'I I ~ .: I it,' 1 i ., ,:.., ()' .i 0<- (c:;?r I ..on!, J Ii ~.. " L.. I .'r_-..'......_, r_",--,,, ABOVE TO 40!5 C (4.67) THIS FORM FURNISHED BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, HAROLD EDGAR HOWSLEY and INEZ LILLIAN HOWSLEY }/leby GRANT(X;) to the CITY OF ARCADIA, a Municipal Corporation t~.I-# e{["eRt for public street and road purposes, to become a 1r~~as Baldwin Avenue, in, on, upon and across ~.f the following described real property in the ~:iJJ'""()!",,,,~~~t,J;,~ County of Los Angeles ' , State ot"'Cahforma: part of and to be known The westerly 17.00 feet of Lot 4, 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. FREE RECORDING REQUESTED ESSENTIAL TO ACQUISITINN BY Tqe City of Arcadia SEE Gov't Code bl03 " ~ I'\JBLlC AGENCY - NO .TAX STATEMENt Dated*c.F// If6F -/~CCFr ~'Li'[ /~ /~dce/I -/~~7 ! L Har~Kr=sl~~ ~nez Lillian Howsley ~ " :>- " Cl '" Lu '" _ u . uJ ". :-c '"'" u 7 5 STATE OF CALIFORNIA }ss COUNTY 2; LOS ANGELES ' On :lf~ I, / '1 r: ? before me. the unde" , signed, a Notary Puhllc in and foJ' said State, personally appeared Harold Edgar Howslev and Inez Lillian Howsley - ,1- 0:: U <f) w '" c,.:I I-h e.o . known to me are subscribed to the within they executed the same. ,>CI!" ~~,._. ", f! a. _" ~ ~ ,.... ''"9 OFFICIAL SI,;\L' ~~ FLORENCE E, NEERGARD NO_T~R~ _~~~LI~~ C~\~IFOR~_IA 10 he the peTson~whose name S instrument and acknowledged that WITNESS my hand and official seal. 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 , .~ , ... -' " ~.... NJARK H. BLOODGOOD AUDITOR.CONTROLLER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 625.3611 February 20, 1969 City of Arcadia 240 West Huntington Drive Arcadia, California Attention: Robert D. Ogle City Attorney He: Baldwin Avenue Parcel No. 52 Harold and Inez Howsley - Grantors Gentlemen: Pursuant to your letter dated May 9, 1968, 1/ -/oP'f () ROBERT A. GILL CHIEF DEPUTY J R. PASSARELLA, CHIEF, TAX DIVISION RECEIVED FEB 27 1969 CITY OF ARCADIA CITY. ATTORNEY taxes have been cancelled in accordance with Section 4986 of the Revenue and Taxation Code. This cancel- lation was ordered by the October 22, 1968 Honorable Board of Super- by Authorization No. 06144. visor s Very truly yours, !lARK II. BLOODGOOD, Auditor-Controller Cf(,/2. By J. R. Passarella, Chief Tax Division JRP!EHP/tc CITY COUNCIL DON W. HAGE MAYOR City of Arcadia C. ROBERT ARTH MAY()R PRO TEM EDWARD L. BUTTERWORTH ROBERT J. CONSIDINE JAMES ~. HELMS. JR. ~ 240 WEST HUNTINGTON DRIVE ARCADIA, CALIFORNIA LYMAN H. COZAD C1T" MANAGER CHRISTINE VAN MAANEN CITY CLERK May 9, 1968 Mr, 500 Los John R. Passarella, West Temple Street, Angeles, California Auditor-Controller Room 153 90012 Attention: Eleanor Parker, Tax Cancellation Section Subject: Request for Cancellation of Taxes Baldwin Avenue Parcel No. 52 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 Enc. ~ MAILING ADDRESSES CITY HALl. P. O. BOX 60 91008 LlBRA.RY 20 W. DUARTE ROAD 91006 POLICE DEPARTMENT P. O. BOX 60 91006 FIRE DEPARTMENT 7105, SANTA ANITA AVE. 91006 TELEPHONES 446.4471 . 681..0276 446-71" 447-2121 446-2128 ~ ~CUUV;"H/~ /;-It )' f ' S;;l, TO 1012-1 Fe (10-67) Californio lend Tille Associotion Standard Coverage Policy form Copyright 1963 1893 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 dissolution, merger or consolidation, against loss or damage nO[ exceeding the amount stated in Schedule A, rogether with cases, 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 titl,. 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 3. 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 estate or intt:rest referred to in this poiicy; or .L Priority over said mortgage, at the date hereof, of any lieo 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; all subJ'ect, howe'~er-;~Tb'1h\"p)~~lsions of Schedules A, Band C and to the Conditions and Stipulations- -- "~\ hereto annexed;:- 't\CE AND I!?J, \\~ ~ ^ ~ 00000000 V.$'.. '~I .- ~.... 00..€. \5 Pf/Oooo /' II .:;: <Q oo~O"" 'Jo~ 0 ,f"") . ,I,r::' ~ oo~ -<;l:"'-g.%\f:,:'lll,,"Witl1ess,Wihereo], Title Insurance and Trust Company has caused its ::;~o~~~ 'l--,_"'-t;"t<\wo~'h ,. . ;;1 0 J...;, <} jCO!p-orate;name.ana seal to be hereunto affixed by Its duly authonzed offICers ~ l.4.J o~,z:/ ,.. .....d" Q ..... (,' d ~ -J oL.J.:--~:S:-:""~ (l on-the a~e\shownIIn Sche ule A. r;, I- 0 Ar, ,'~, I rr-"""""o '" '4 % _ 0 -: """ ~:;I.~. "'~~l)..J1)\ 0 2: ~ ~ I- ~ ,,'4;~ -.r;ii31-;)"''j/.' g "( ~ ~ O.A\J..',~~b<.l;I~~I~rQOO :; ~ -{t OooS-", ''-'' <t,'::1rnJ""-'-'~\o )} j': ~J (0'" , " '1-'<' 0 ' ql 0: Oo~l'ATE IS 6\)000 ~ ': ~l .$' 00000000 'V--"..-:/ I\\\,-'1iVGELES, V..#" \\\\\.,"~~ Title Insurance and Trust Company by ~~~~NT Attest (]'Lu 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 thereto which by law constitute real property; (b) "public records": those records which impart constructive notice of matters relating to said land; (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to the Insured by reason of any public records; (d) "date": the effective date; (e) "mortgage": mortgage, deed of trust, trust deed, or ocher security instrument; and (f) "insured": the party or parties named as Insured, and if the owner of the in- debtedness secured by a mortgage shown in Schedule B is named as. an Insured in Schedule A, the Insured shall include (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 insured owner of the indebtedness sewred by a mmtgage 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 indebtedness, or any part thereof, or if a federal agency or instrumentality acquires said estate or interest, or any part thereof, as a consequence of an insurance contract or guaranty insuring or guarantee- ing the indebtedness secured by a mortgage coyered by this policy, or any part thereof, this policy shall continue in force in favor of such Insured, agency or instrumentality, subject to all of the conditions and stipula. tions hereof. 3, EXCLUSIONS FROM THE COVERAGE OF THIS POLICY This policy does not insure against loss or damage by reasons of the following: (a) Any law, ordinance or governmental regulation (including but not limited to building 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 the dimensions or area of any lot or parcel of land. (h) Governmental rights of police power or eminent domain unless mHice of the exercise of such rights appcars in the public rcwrds at the date hereof. (c) Title to any property beyond the lines of the land expressly described in Schedule C, or title to streets, roads, ave- nues, lanes, ways or waterways on which such land abuts, or the right to maintain therein vaults, tunnels. ramps or an}' other structure or improvement; or any rights or easements therein unless this policy specific- ally provides that such property, rights or easements are insured, except thrlt if the land abuts upon one or more physically open streets or highways this policy insures the ordinary rights of abmting owners for access to one of such streets or highways, unless otherwise excepted or excluded herein. (d) Defects, liens, encumbrances, adverse claims against the title as insured or other matters (1) created, suffered, assumed or agreed to by the Insured claiming loss or damage; or (2) known to the Insured Cluimam 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 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 against a foreclosure or sale of the mort- gage and indebtedness covered by this policy or a sale of the estate or interest in said land; or (2) for such _ action as may be appropriate to establish the title of the estate or interest or the lien of the mOf[- 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 rhe 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 eSlate 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 poli(y, 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 foreclosure sale under a mort- gage covered by this policy refuses to pur- chase and in any such event the ritle 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. iogs or if the Insured shall not, in writing, promptly notify the CompJ.ny of any de- fect. lien or encumbrance insured against which shall come to the knowledge of the Insured. or if the Insured shall not, in writing. promptly notify the Company of any such rejection by reason of elaimed un- marketability of title. then all liability of the Company in regard to the subject matter of such anion. 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 cxtent of such prejudice. (c) The Company shall have the right at itS own cost to institute and prosecute any action or proceeding or do any other act which in its opinion may he necessary or desirable to establish the tide of the estate or intercst 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 no~ it shall be liable thereunder 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 prosecure 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 proceedin.g, 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 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 undet this policy shall be furnished to the Company within sixty days after such loss or damage shaH have been determined, and no right of action shall accrue to the Insured under this policy until thirty day~ after 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 after expiration of said thirty day period. Failure to furnish such statement of 105s or damage, or to commence such action within the time hereinbefore specified, Sllilll be a con- elusive 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 (or or in the name of the Insured any claim insured against or to pay the ful1 all10unt of this policy, or, in case loss is claimed under thi.~ policy by the owner of the indebtedness secured by a mortgage covered hy 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 Last Page of This Policy) mc TO 1012.1 AS C Califc,rnia l()nd Title Association Standord Co..erage Pol1cy~ 1963 SCHEDULE A Amount $ 2,000 ,00 Effective Datc April 15, 1968 at 8:00 a.m. Premium $ Lf GJ. c:J 0 Policy No, 6739716 INsunED CITY OF ARCADIA, a municipal corporation. 1. Title to thc estate or interest covcred by this policy at the date hercof is vested ill' CITY OF ARCADIA, a municipal corpor~tion. 2, The estatc or interest III the land described or rcfcrrcd to III Schcdulc C covcred by this policy IS a fee. SCHEDULE B This policy does not insure against loss or damage by reason of the following, PART I 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on renl 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, claiIns of easement or encumbrances which alOe not shown by the puhlic 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. Unpatented mining claims; reservations or exceptions in patents or in Acts authorizing the issuance thereof; water rights, claims or title to water. TO 1012_1B Coni, C Coliforl1la Land TlIIe Auotlatian Standard Coverage 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 year 1968-1969, a lien not yet payable. 2. Covenants, Executed by Recorded conditions and restrictions in the deed Peter L. Cuccia prior to February 15, 1950 in book 740 page 286, Official Records. 3. An action in the Commenced Entitled Superior Court March 22, 1968 _ City of Arcadia, a municipal corporation, vs. Elizabeth Rowse Wilson, et al. 929015, Los Angeles County public right of way parcel No. 52 Case No. Nature of Action , Affects Notice of the pendency Recorded of said action was : March 22, 1968 in Official Records, book M 2807 page 805, as instrument No. 3066 4. The following provision of the Deed from Harold Edgar Howsley and Inez Lillian Howsley, to the City of Arcadia, a municipal corporation, recorded April 15, 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 l012-1-1056-1C C American Land 1/1le Association Loan Polley Additronal CoveraQe-1962 0' Calif<)rnia land Title Associallon Standard Caverag& 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 4, Tract No. 9282, in the city of Arcadia, county of Los Angeles, state of California, as pe~ map recorded in book 125 page 6 of Maps, in the office of the county recorder of said county. . . ~;4VC ;:;:~1i:J2;: '. ~Th~V" ""if2~'_::?" 195,63 "" 100 .........../ooy '-!.!302'~ TO S!:J:;!/ ~ 1 '" ~@7.~HC?LLY AVE ,v/ ,- ~({l,60')'(VIDE , : /92;7 ~ ~ ~ ~ ~~: '<l, <>i 0-; ~ ~?!?, ~ _6.,~ ] '_ \,"!!,,'t \ 1-;;05 \ ~ esl 8S '355,05 U7 C) C) It) .... " "" ~ ,346.62 8: I 1 328.13. ,~"';""""""""""'"""",I"",!J" ",8,.1.9 ,,""'~,' , ;".;8 k'.~ ;141l'8e.45 0h"o ~ <ti'1:: ""f-- ::l ~c:. ,"l "" 'l:l c:. II) It) \l) 10 /78.79 " l\1 '<i '''If) "'~ C) '-'l 1902,00 '-f: TO HOLLY AVE GO'WIDE ~ PALM WEST DR., TRACT NQ 9282 @ T.his 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 this. policy, together with all (OStS, attorneys' fees and expenses which the Company is obligated hereunder \0 pay, shall terminate all liability of the Company hereundt'r. I n 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 assign said indebtedness and the mortgage securing the same to the Company upon payment of the purchase price. 7. PAYMENT OF LOSS (a) The liability of the Company under this policy shall in no case exceed, in all, the actual loss of [he Insured and COSts and attorneys' fees which the Company may be obligated hereunder to pay. (b) The Company win pay, in addition to any loss insured against by this policy, all COStS impos.ed upon the Insured in liti- gation carried on by the Company for the Insured, and all cosc.~ and attorney.~' fees in litigation carried on by the Insured with the written authorization of the Company. (c) No claim for damages shall arise or he maintainable under this policy (1) 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 assumed by the Insured in settling any claim or suit without written consent of the Company, or (3) in the event the tiele 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) All payments under this policy, ex- cept payments made for COStS, attorneys' fees and expenses, shall reduce the amouO[ of the insurance pro tanto and no payment shall be made without producing this policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss or destruction shall be furnished to the satisfaction of the Com- pany; provided, however, if the owner of an indebtedness secured by a mortgage shown in Schedule B is an Insured herein then such payments shall not reduce pro tanto the amount of the insurance afforded hereunder as to such Insured, except to the extent that such payments reduce the amount of the 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 poliq' shall terminate all liability of the Company to the insured owner of the indebtedness secured by such mortgage, except as pro- vided in paragraph 2 hereof, (e) When liability has been definitely fixed in accordance with [he 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 tide 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 setded 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 a1\ rights and remedies which the Insured would have had against any person or prop- erty in respect to such claim had [his 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 hears to the amount of said loss. If loss shoulJ result from any ace of the In- sured, such ace shall not \'oid this policy. but 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 re- questt'd by the Company, shall transfer' to the Company all rights and remedies against any person or property necessary in ord(:r to p(:rfect such right of subrogation, and shall permit the Company to use the name of the Insured in any transaction or litigation involving such rights or remedies. If the Insured is the owner of [he 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 col- lateral security for the indebtedness, pro- vided such act does nO( result in any loss of priority of the I ien 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 ritle of the estate or interest insured herein must be based on the provisions of this policy. No provision or condition of this policy can he waived or changed except hy writing endorsed hereon or attached hereto signed hy the President, a Vice President, the Secretary, an Assistant Secretary or other \'alidating officer of the Company, 11, NOTICES, WHERE SENT All notices required to be given the Com- pany and any statement in writin,l; 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 Srn~et, Los Angeles 54, California. 12. THE PREMIUM SPECIFIED IN SCHEDULE A IS THE ENTIRE CHARGE FOR TITLE SEARCH, TITLE EXAMINATION AND TITLE INSURANCE. @ Title Insurance and Trust Company FOUNDED IN ,Sg3 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. Title Insurance and Trust Company 433 South Spring Street Los Angeles, California 90054