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HomeMy WebLinkAboutD-1641 \ J' ,1 . /'1' ~.' , " , '. ' CERTIFICATE OF ACCEPTANCE ~K 0398SrG 941 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 10, 1968 , from or executed by Joseph Reynolds and Charlotte Reynolds , 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 ed officers, The document thus described is hereby f ~ c:; c.o ~)1~ Ci ty Engineer approve~o form, -:=-~--~Q City / ( /-~r <" CITY OF', ARCADIA AND WHEN RECORDED MAIL TO I Nom. City Clerk Str..t P.O. Box 60 Addr... City & Arcadia, Calif. 5101. L MAil TAX STAUMENTS TO I Name City of Arcadia Street Addreu City & Slale L .1..:Jv un UvJUv I U "'''TV RECOROED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY. CALIF. I FOR TITLE INSURANCE & TRUST CO. APR 30 1968 AT 8 A.M. RAY E. LEE, County Recorder: ~ I Ff(l::E~ ~l SPACE ABOVE l'HIS LINE FOR RECOROER'.SUSE------.J I $3.30 ~ 3~ DOCUMENTARY 'STAMI'~.TAX"'" - ~-'Lfj.";.~ ~- _ Grant Deed /) - "30 AFFIX ~,1:_u5uum . . ABOVE TO 405 C (4.67) THIS FORM FURNISHEO BY TITLE INSURANCE AND TRUST COMPANY FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, JOSEPH REYNOLDS and CHARLOTIE REYNOLDS THIS NECESSARY IN CHAIN .OF IllL'E ereby GBANT(lO) to the CITY OF ARCADIA, a Municipal Corporation, /N. FI:E . for pub11c street and road purposes, to become a part of and to be known ~s Baldwin Avenue, in, on, upon and across the following described real property in the Ci ty .of Arcad.ia,~ County of Los Angeles - , State of California: That portion of Lot 44 of Tract No. 6641, in the City of Arcadia, County of Los Angeles, State of California, as per map recorded in Book 126, Page 67 of Maps, in the office of the County Recorder of said County, described as follows: FREE RECORDING REQUESTED ESSENTIAL TO ACQUISITION BY The.. (21 t~ of Arcadia ::;1:';1:'; Gov t I.;ode~ blUj , 1)- l~ I :' :- ,. " -' .0_ ,. L.i: " 'u ~_. U ,.. U " ~ .' u 0 b: <l. 0:: u ." w Q Beginning at the northwest corner of said lot; thence easterly along the northerly line of said lot to the beginning of a tangent curve concave southeasterly having a radius of 15.00 feet, said curve being tangent southerly to the easterly line of the westerly 17.00 feet of said lot; thence southwesterly along said curve to said easterly line; thence southerly along said easterly line to the southerly line of said lot; thence westerly along said southerly line of said lot to the westerly line of said lot; thence northerly along said westerly line to the point of beginning. On }ss ds L ~-- Dated O/;v.,J I ;0 , / y (" 7 , .. STATE OF CALIFORNIA COUNTY OF LOS ANGELES /?lcf' f I signed. a N tury Public in and for said State. personally appeared Joseph Reynolds and Charlotte Reynolds ~ ., _I .~., ~.;.t\. before me, the under. to be the personS-whose name S ::irp instrument and acknowledged that t hey WITNESS m)' haud and official seal. . known to me subscribed to the within executed till: samt'o ~ c.:; /I ~~~ ~"".""..,. OFF1Cl A[ SF' A] I " <"~"'''''''<'' "'I. -' ~ ,:\.. , r .\'~ FLORENCE E. NEERGARD ("'h~) NOTARY PUBIII': _ r.ll.11j:/l0~1I^ ..>' , , . " GRANT DEED Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL ,- ... GRANT DEED Title Insurance and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL ". . .~ -.t#t' O"J MARK H. BLOODGOOD AUQITOR.CONTROLLER COUNTY OF LOS ANGELES DEPARTMENT OF AUDITOR-CONTROLLER 153 HALL OF ADMINISTRATION LOS ANGELES, CALIFORNIA 90012 625.3611 March 19, 1969 Cityof Arcadia 240 West Huntington Arcadia, California Drive 91006 Attention: Robert D. Ogle City Attorney Re: Baldwin Avenue Parcel No. 106 Gentlemen: Pursuant to your letter dated May 9, 1968, taxes have been cancelled in acc'.,rdance with Section 4986 ~f the Revenue and Taxation C~de. This cancel- lation was ordered by the Honorable Board of Super- visors Oct. 29, 1968 by Auth"rization No. 06325. Very truly y~urs, MARK H. BLOODGOOD, Auditor-Contr'lller /~e.12 trJ J. R. Passarella, Chief Tax Division JRP!EHP!ejrl ROBERT A, GILL CHIEF DEPUTY J, R. PASSARELLA, CHIEF, TAX DIVISlON RECEiVED MAR 2 5 1969 .CITY OF ARCAD: 1\ CITY 6.TTORNEY CIT,Y COUNCIL DON W. HAGE MAYOR City of Arcadia c. ROBERT ARTH MAYOR PRO TEM 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: Request for Cancellation of Taxes Baldwin Avenue Parcel No. 106 Dear Mr. Passarella: Please cancel as of the date of recording all taxes on the property described in the enclosed copy of deed. This prop- erty is part of a larger parcel acquired for street widening purposes. There is no building on it. Very truly yours, RDO: jh Ene. ~ MAILING ADDRESSES CITY HALL P. o. BOX eo 91006 LIBRARY 20 W. DUARTE ROAD 91006 POLlCE DEPARTMENT P. O. BOX 60 91006 FIRE DEPARTMENT 710 S. SANTA ANITA AVE. 91006 TELEPHONES 446_4471 . 681_0276 446.7111 447-212.1 446.2128 TO 1012-1 F C (10-67) California land Title Assoeiotion Standard CClveroge Policy Form Copyright 1763 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 parries named as Insured in Schedule A, the heirs, devisees, persona] representatives of such Insured, or if a corporation, its successors by q.issolurion, merger or consolidation, against loss or damage not exceeding the" amount stated in Schedule A, together with costs, attorneys' fees and expenses which the Company may become obligated to pay as provided in the Conditions and Stipularions hereof, which rhe Insured shaH sustain by reason of: 1. Any defecc in or lien or encumbrance on the tit]t' to the estate or intt'rt'st covered hereby in tht: land described or referred to in Schedule C. existing at the date hereof, not shown or referred tu in Schedule B or excluded from coverage in Schedule B or in the Conditions and Stipulations; or 2. Unffiarketability of such title; or 3. Any defect in che 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 insufar as such defect affects the lien or charge of said mortgage upon the estate or interesc referred to in this poiicy; or -I. Priority over said mortgage, at the dace 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; all subJ"ect, however,~Th'1~'~p1~~rsions of Schedules A, Band C and to the Conditions and Stipulations- "'--" "~\ hereto annexed;:'- ~t."" AND fill! \1' .;;;:- ~~ 000000000 ~ 'II -- '> 00 ..1'. IS PRo 00 )- 'Ii ::r c, oOv:-O'l'" 'r... 0 """ f j::f ~ oo~ ~4{l"1-"'11;U~''l.!zI.':JP''i~nl!.ssdP'fereof, Title Insurance and Trust Company has caused its :; ,"':: 00 f!' ",."'" 1) co'lk6rat~;8am~.a~.Id seal to be hereunto afftxed by its duly authorized officers ~ "'" ot'-'''-,- ~?r ,,' ,'cd" 0 .... ,.' d f;; -oJ O~'\..-~"'--(.:f~fon-the a~e~shownlln Sche ule A, " I- 0 '" .::>>\ '<'I-~,-"o y '-' % _ 0-"", 4""'-';'f~"\\ 0 Z ~ ~ I- 'i, ,:~bi';;: q~"!.w:,, ,- g "'(' ~ 'l 0 "" ;'>;'~,.Q~~"'f"1' CJg :;;; ~) -?r o-S-~ -:=-:'.<:r,o >r'\/,~,'^"'0 ).};..! () 0,-" .1;'_ 'Cp. ~vo ~ '1 -/ oo~s . - - _,~ 0". - 'I '0 oorATE \S c,vooo ,.... .: 11\ ~ -'I 00000000 t.~V 5" \1,\ NGELES, .$' \\\\'\'\.'\.'\.~'-~ Title Insurance and Trust Company by ~~~~NT Atteft c:JW 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 tderence, in Schedule C and improvements affixed thereto which by law consrimte real property; (b) "public records": those records which impart constructive notice of matters relating to said land; (c) "knowledge": actual knowledge, not Consrructive knowledge or notice which may be imputed to the Insured by reason of any public records; (d) "date": the effe<tlve date; (e) "mortgage": mortgage, deed of trust, trust deed, or other security instrument; and (f) "insured": the party or parries named as Insured, and if the owner of the in- debtedness secuted by a mortgage shown in Schedule B is named as. an Insured in Schedule A, the Insured shall jnclude (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 ]egal 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. aENEFITS AFTER ACQUISITION OF TITlE If an insured owner of the indebtedness secured by a mortgage described in Sched- u]e 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 ihsurance contract or guaranty insuring or guarantee- ing the indebtedness secured by a mortgage covered by [his 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 ]os~ or damage by reasons of the following: (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning ordinances) !estricting or regulating or prohibiting the occupancy, u~e or enjoyment of the land, or !egulating 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 !ights of police power or eminent domain unless nOlice of the exercise of such rights appears in the public records 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 ri}:ht to maintain therein vaults. runnels, 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 that if the land abuts upon one or more physical]y open streets or highways this policy insures the ordinary rights of abutting (lwners 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 (I) created, suffered, a~sumed 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 puhl ic records, unless disclosure thereof in writing hy the Insured shall have been made to rhe Com- pany prior [0 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 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 OWll 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 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 mort. gage as ins.ured, 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 Of proceed- ing shall be begun, or defense interposed, or in case knowledge shall come to the In- sured of <tny claim of title or interest which is adverse to [he 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 c{}\,ered by this policy, or, if an Insured in good faith leases or contracts to sell lease or mortgage the same, or if the 'successfu] bidder at a foreclosure sale under a mort. gage covered by this policy refuses to pur- chase and in any such event the title to said estate or interest is 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 the Camp.my of any de- feet. 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 title, then all liability of the Company in regard to the 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 extcnt 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 be necessary or desirable to establish the tide of the estate or interesr 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 liabi]ity 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. feose in su<:h action or proceeding. and all appeals therein, and permit it to use, at its option, the name of the Insured for such purpos!:', 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 under this policy shall be furnished to the Company within sixty days after such loss or damage shall have been determined, and no right of action shan acCtue to the Insured under this policy until thirty days after such statement shall have been furnished, and no recovery shall be had by the Insured under this policy unless action shall he commenced thereon within five years after expiration of said thirty da( period, Failure [Q furnish such statement 0 loss or damage. or to commenCe such action within the time hereinbefore specified, shall be a con. c1usive bar against maintenance by the In~ sllred of any action under this policy, 6, OPTION TO PAY, SETTLE OR COMPRO- MISE CLAIMS The Company shall have the option to payor settle or compromise for or in the name of the Insured any claim insured against or co pay the full amount of this policy, or, in case loss is claimed under this policy by [he owner of the indebtednl'ss secured by a mortgage covered by !his 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 Cancluded on Last Poge of This Policy) ULv ,;, TO 1012-1 AB C CaliflJrnia land Title Association Standard C:overoge Policy-1963 SCHED'ULE A , Premium $ -'I/,j, t)" Amount $ 2,000.00 EI'fccti vc Date April 30, 1968 at 8:00 a.m. INSURED Policy No. 678n61 . CITY OF ARCADIA, a municipal corporation. 1. Title to the estate or interest covered by this policy at the date hereof is v~sted m: CITY OF ARCADIA, a municipal corporation. 2. The estate or interest in the land described or referred to m 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. 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 records. 2. Any facts, rights, interests, or claims which are not shown '. by the public records but '\','hich could be ascertained by an inspection of said land or by making inquiry of persons in possession thereof. 3. Easements, claims of easemQnt or encumbrances which arc not shown by the public records, 4. Discrepancies, conflicts in boundary Jines, 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. Mfh TO 1012.18 Cont, C Colifornia Land Tille Auodafion Stondard Coverage Pollcy_1963 " SCHEDULE B- (Continued) PART II. 1. General and special county and city taxes for the fiscal year 1968-1969, a lien not yet payable. , , conditions and restrictions in the deed Arcadia Investment and Development Company prior to,~ebruary 15, 1950 in book 9753 page 20, Official Records Which provide that a violat~on thereof shall not defeat or render invalid the lien of any mortgage or,deed of' trust made in good faith and for value. 2. Covenants, Executed by Recorded 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. 106 3. An action in the Commenced Entitled Notice of the pendency Recorded , of said action was March 22; 1968 in book M 2807 page, 805, Official Records' as instrument 3066 No. i\ 4. The following provision of the deed from Joseph Reynolds and Charlotte Reynolds to the City of Arcadia, a municipal corporation, recorded April 30, 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 1012-1-1056-1(; C American land Titlll' Association loan Policy Additional Coverage-1962 0' Calif<:>rnio land Title Association Standard 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: That portion of lot 44 of Tract No. 6641, in the city of Arcadia, county of Los Angeles, state of California, as per map recorded in"book 126 page 67 of Maps, in the office of the county recorder of said county, described as follows: Beginning at the northwest corner of said lot; thence easterly along the northerly line of said lot to the beginning of a tangent curve concave southeasterly having a radius of 15.00 . feet, said curve be.ing tangent southerly to the easterly line .of the westerly 17.00 feet of said lot; thence southwesterly along said curve to ~aid easterly line; thence southerly along said easterly line to the southerly line of said lot; thence westerly along said southerly line of said lot to the westerly line of said lot; thence northerly along said westerly line to the point of beginning. . '-(~~ .-~ --: J ~ ~ ~ I tFLo,eENCE RVE. 66 . tlJOOO,eUFF ,</8:/",;"..E. RVE, ..!f..,.. .!S., . ?s;_ ,<, 'dl ,.,.. 'f'.' \: "tfii .~ :5" .(;, ., '" Afo.~6 ! /00 7S ;:. '" s5 '<S . / I . ~~--- 11'\ /46 i /00 C'i ~ j '" ,-...,6 ~ ~ ';l 2 Ii . t; l..St/9.n ~ tOO ~ 13r.5..,' '" \~ 2/ ~ ~ j':' 2/7.07 It\ ~CO~ ,~A_ _.'-: 11'\ ;:.t..;o....... cC' ~~ .... ""~... ~ .A7.,~ t" ....-..c-!"/..:..~4" 116#4 ........-- ZDZ.6f./V'. %.. '< 75 75 'fl,SO so I~ '\it ll\i I I 19 18 17 16 IS 14 1 I I I 75 75 75 ~lso 501~ 75 7$ 75 75 7$ fltl so Clo 1';;;___ 1 '1\ I",),. ~ I ~I\ ]. i' 8:'1;.9; ~/,? II ~ "- --- (IV" .'" I"" ~ .~ (( I"" ~ .,~)'...~' ~l so' ~ I.J '.7:;'~. g ", ~'\, . "':rI ~ '-' 13 12~ I ;~~\~ ~ ''\'e-: 75 75 * '{.jk" < . . -9.s' /00 55 ~ ~tfl!.4, - ?~ 75' 75. 75 75: 75 75 75 ~ L\ ''1''1'''' 2.3 ~ :j \ ~8 I "j :';'! 250.09 ~ ~L"f '" 24 , ~ .i'6 27 291 .fIO .fI1 3L"~ " 237.63 ., I I j " ..'\ \ ." I ~'<i .. 41 ~ I ~~ ) '" " 2.?5.2$ I I . 4 ~~ '" I 1 '" 42 . ~ l I:> '" .f16i .fIS 'j " 2/2.BB ~4f .fI9 .fI8 .fI7 .fI4 4 / . " .1 " #! 75 t75 .. ~ . '" I ~ ". C'OO.-"I8 75. 75 75 75 .75 75 - ---Tiilii/isl r;' '. '. . I (',' r-.~... - -----..... '-:D~E. "~...:'j i\ \ \ \ ~ . '" .:'> ~ . '" ~ '< r ) AVE. 16 j' ;;;'~':'<~6."'1 .. ;. '875 475 875 .875. 875.; 875 1 I)'.'''.......... ,., . ..~ . I'; .--;"] IT..... ~~. <> ~<~q,_~' ~,- (...~ '"' I "~,-' ,,-v ",~ "1 ~ \ :2.'::.,:.,~. ".0/. '. ---' . --" - ---' .' \ ~ 45 ,,~47 48 49 50 51 52~ ~. ..' ~: " "'~u;o "'" . '" . l:.:. \.> ~ \~:;~'~>" ~ ~ 46 ~ . ~.. '\"".~,~, ' .... _: 2&'3.2() 87.5 47.5 47.S 87.~ 87,5 87..:~ ~ ~ ~ '~l$-i>(1. ~ ~ 59 ~~ ~ " ~ 0\ (l/~~f "" ~ ".. 2/6.80 " .. ~ " ~/~'i'lK..:s. ~" . ~ '" ~ . ~~~. II: ~ 1.60--,...."~ " 'lj~~.~W:.~ ~ " ''a>''40~ '5 ~ '7"";0; 'W <i'/s; '511;" 53 "'" .- \S\i 58. :157,\ 5 ;d;;;.-'" - " I1'\. 61"~,;,- """"',: ~o,::;:.^ ~ "" ~ I..'" . --- --~ . ~ ---= lI, ~ . lUQ~'KmRN % '" ~ at? ~ r' ..qu; . ~ -, '1Q5:>' .'!!1;.:: ~ "88.5?o. '';'' _.' .., 174g -- 01'11< ..J5~ ~ LIIIE .5.lV'~~'/~''''' ~':l , r;' 8!1~? d.,~ - .fIvE.':I,~ -I TRACT NQ M. B. /26 664/ - PB. 67 @ This is not a survey of the land. but is compiled for information by the Title Insura'nce and Trust Company from data shown by the official records. . CONDITIONS AND STIPULATIONS (Continued and Concluded From Reverse Side of Policy Face) rhe full amount of this policy. to~c:ther \\- ith all costs, attorneys' fees and expenses which the: Company is obligated hereunder [() pay, shall terminate all liability of the Company hereunder. In the event, after noticl' 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 securinF the same to the Company upon payment of the purchase price. 7. PAYMENT OF LOSS (a) The liability of ,he Compa.ny under this policy shall in no case exceed, in aI!, 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, 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 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 an alleged defect, lien or encumbrance not excepted O( excluded herein remove.~ .)Uch 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 tide is reje<:ted as unmarketable because nl a defect, lien or encumbrance not excepted or excluded in this policy, until there has been a final determination by a (ourt of competent juris. diction sustaining such rejection. (J) All payments under this policy, ex. cept payments made for costS, attOrneys' fees and expenses, shaH reduce the amount of the insurance pro tanto and no payment shall be made without producing this policy for endorsement of such 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 inJdltedness 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 policy 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 wirh the conditions of this policy the loss or damage shall be pay- able within thirty days thereafter. 8. LIABILITY NONCUMULATfVE 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 rhe 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 po]icy. all right of sub- rogarion shall vest in the Company un- affected by any act of the Insured, and it shall 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 co 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 Joss. If l(ls.~ should fesulr fmOl <lOr aCt of che In- sured. such aCt shall not void this policy. but the Company. in that t'vent, shall be required to pay only that parr 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 suhro,gation, The Insured, if re- quested by the Company, shall transfer to the Company all rights and remedies against any person or property necessary in ordt.:r to perfect such righr of subrogation, and shall permit the Company to use the name of the Insured in any transaCtion or ]jtigation involving such rights or rt'mt'dies. If the I nsu{ed is the owner of the in- debtedness securt'd by a mortgage covered by this policy, such Insured may release or substitute the persona] liability of any debtor or guarantor, or ex rend or otherwise modify the terms of payment, or release a portion of the estate or interest from the lien of the mortgage, or release any co]- lateral .~e(urity for rhe indebtedness, pro. \"ided such act does nO[ rt'sult in any loss of priority of the lien of the mortgage. 10. POLICY ENTIRE CONTRACT Any action or actions or rights of action [hat the Insured may have or may bring againsr the Company arising out of the status of the lien of the mortgage (Overed by this policy or the title of the estate or interest imured herein must be baR'Xl on the provisions of this policy. No provision or condition of this policy (an be waived or changed except by writing endorsed hereon or attached hereto signed by rhe President, a Vice President. the Secretary, an Assistant Secretary or other n]idating officer of the Company. 11. NOTICES, WHERE SENT All notices required to be given rhe Com- pany and any statement in writing n:quired to be furnished the Company shall he ad- dressed to it at the office which issued this policy or to irs Home Offici', 433 South Spring Street, 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 ...03 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 s~bsidiary Companies. Title Insurance and Trust Company 433 South Spring Street Los Angeles, California 90054 ~