The URL can be used to link to this page

Home My WebLink AboutD-1667 CERTIFICATE OF ACCEPTANCE ~~ D402or~ 817 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 March 26, 1968 , from or executed by Harry A. White and Helen L. White , is hereby accepted by the City oLArcadia 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. f~cers; hereby approved ~~ ~ City Attorney ~ . .,-, r ;{ r;\ oC . l~ ,!.! , I . . .'. . described is t cti;;~~ City Engineer ~ ~ 0- o .~ ,~ ~ , , .'f'l. I Nome Slre" Addren Cily & state'L I Nome Streel Addreu City & SIale L ....... ",,- ' .~, - .. --v I L' V I U CITY OF ARCADIA //-/667 AND WHEN RECORDED "'AIL TO I RECORDED IN OFFICIAL RECORDS OF LOS ANGELES COUNTY. CALIF. FOR TITLE INSURANCE & TRUST CO. JUN 5 1968 AT 8AM,. City Clerk P.O. Box 60 Arcadia, Calif. RAY E. LEE, County Recorder. ~ MAIL TAX STATEMENTS TO SPACE ABOVE THIS LINE FOR RECORDER'S UTS~:,,; $1.65 I City of Arcadia JUrr .J ',", S ;,T /./;~ AFFIX~. S................ "..... ABOVE I'Grant Deed TO 40~ C (4.67) THIS FORM FURNISHEO BY TITLE INSURANCE AND TRUST COMPANY . FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, HARRY A. WHITE and HELEN L. WHITE j',(/ ~1.~ CRANT(ji:) to the CITY OF ARCADIA, a Municipal Corporation, IN FEE . - aR 8a8~eHt for publ1c street and road purposes, to become a part of and to be known as Baldwin Avenue, in, on, upon and across ,he following described real property in the Si-ty of Arcadia... County of Los Angeles , SiiiearCalIfornia: '~ That portion of Lot 1 of Tract 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 as described in the deed to Harry A. White ---"-and wife, recorded April 30, 1953, as Instrument No. 2136, in Book 41609, Page 89, Official Records of said County included within the following described land: :t Vi Z m () m co co )> '" .-< z '() iI ~ ~O m ~ hi , ~ 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 also being tangent at its southerly terminus with 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 to the westerly line of said lot; thence northerly along said westerly line to the point of beginning. FREE RECORDING REQUESTED ESSENTIAL TO ACQUISITION BY The City of Arcadia SEE GovTt Code 6103 Dated'~~?/ /<3bR I ~I >- :; en r C::J iJ W - >:: - U li' - :r: ~ u }ss /~q~4 fL" Hi' ~. White. ~ /~ ' kd;'h, Li- e en . 1te z :> i= "- '" U U1 ul o STATE OF CALIFORNIA COUNTY OF LOS ANGELES 'On March 26, 1968 befnee me, tbe un dc" signed, a Notary Public in and for said State, personally appeared Harry A. White and Helen L. White . known to me to he the person8..---whose name-S..-ar:.e... subscribed to the within instrument and acknowledged that they executed the same. WITNESS my hand and offici~l seal. rl ~~~~~ ~-~~---- 4"'".eie....2.':_J" OFFICIAL SEI\L ;(J...,."",""_'(> /</ ~ r:1f10t:","1('(" c: rolrr<1T~ "'A' . . .. t '. GRANT DEED Title Insurance \~and Trust Company COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL ..--' ,",,:.:'.<::. " GRANT DEED Title Insurance and Trust Company ~i_J COMPLETE STATEWIDE TITLE SERVICE WITH ONE LOCAL CALL . . ". ~ .2'"' .- '. "... . ----.,. I' .... ... ~ ., '- -.< : "" " : .~ . . . . . ...~ ..,.. MARK H, 8LOODGOOD 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 Re: Baldwin Avenue Parcel No. 59 Harry and Helen White - Grantors Gentlemen: Pursuant to your letter dated June 24,1968, 1Y~/tt7 RaBERT 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 ~ith Section 4986 of the Revenue and Taxation Code. This cancel- lation ~as ordered by the 1968 Honorable 30ard of Super- by Authorization No.p6146. visors October 22, Very truly yours, BLOODGOOD, Auditor-Controller ~. By J. R. Passarella, Chief Tax Division JRP /EMP /tc " CITY 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 June 24, 1968 Mr. 500 Los John R. Passarella, West Temple Street, Angeles, California Auditor-Controller Room 153 90012 Attention: Eleanor Parker, Tax Cancellation Section Subjec t: Request for Cancellation of Taxes Baldwin Avenue Parcel No. 59 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. Q. BOX 60 91006 LIBRARY 20 W. DUARTE ROAD 91006 POLlCE DEPARTMENT P. O. 80X 60 91006 FIRE DEPARTMENT 710 S. SANTA ANITA AVE. 91006 TELEPHONES 446-4471 . 681.02.76 446-7111 447.2121 446-2.128 TO 10\2 FC (7-bS) C~1iforni" l"nd Title AS$oci<!ltion St"nd~rd Cover"ge Policy Form Copyright 19/.13 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 effecrive date, and amOunt of which are shown in Schedule A, hereby insures the parries 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 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 Stipulations hereof, which the Insured shall sustain by reason 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, existing at the dace 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 Insuted in Schedule A, but only insofar as such defect affects the lien or charge of said mOrtgage upon (he estate or interest referred to jn this policy; or 4. 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 mortgage being shown in Schedule B in the order of its priority; . -"....."'-'\.'\.'\\.\.".,, all subject, howeyer~ tOc.the provISIons of Schedules A, Band C and to the Conditions and StipulatIOn:> hereto annexell-:-:'~Ct;. AND l"1i';."I\11 ;"' ~r 0000000 Vo- I ,: -\) ooo~t IS PRo~oo l' I, .-! G,: oOY' {f~,c,q.*~ ~.on (') I :r ~ o.~ q,{l "f.1!1lEIJiln~ WttneHC;W,hereo!J Title Insurance and Trust Company has caused Its /II! .......: o~- ~ I N'~ ~ 0 ~ fJ :; Lu b~t} cOn'orat@namean'dsealtobehereuntoaffixedbyits duly authoflzed offICers ~ 1--.1 00 . ,:' '..-- <ifil"th'e~are~h~Zin Schedule A. ~ 'M. ' . ~ 1': I '~_o~" ~ ,\ 02:% r" ..... 0 -/~. t 0 I! ~ 0'. ~ - /.,ij II,' -- 0 "(" ...: Z -{< oo-:l-'.\ Ji':'~' '.0 I ';iJ~ ><. ~ Title Insurance and Trust Company 'I. 0'(<- - -- - ',::,v 0 ... j:: 1"1 <,()001$~;~:\;'G~~~00~'f '1\ 0' -4 00000000 C ~'Y .:?" 11\\ I\IGELES, ..s:- \,\\'\'\'''~~ by . )- /~ _LL y~/~ PRESIDENT Attest CJLu ~~ SECRETARY CONDITIONS AND STIPULATIONS L DEFINITION OF TERMS The following terms when used in this policy mean: (a) "land": the land des.cribed, specific- ally or by reference, in Schedule C and improvements affixed thereco which by law constitute real propeny; (b) "public records": those records which impart cons['ructive notice of matters relating to said land; (c) "knowledge": actual knowledge, not constructive knowledge or notice which may be imputed to the Insured by reason of any public lecords; (d) "date": the effective date~ (e) "mortgage": mortgage, deed of trust, trust deed, or other security instrument; and (f) "insured": the party or parties named as Insured, and if the owner of the in. debtedness secured by a mortgage shown in Schedule B is named as, an Insured in Schedule A, the Insured shall include (I) each successor in imerest in ownership of such indebtedness, (2) any such owner who acquires the estate or interest referred to in this policy by foreclosure, trustee's sale, or other legal manner in satisfaction of said indebtedness, and (3) any federal agency or instrumentality which is an in- surer or guarantor under an insurance con- tract or guaranty insuring or guaranteeing said indebtedness, or any part thereof, whether named as an insured herein or not, subject otherwise to the provisions hereof. 2. BENEFITS AFTER ACQUISITION OF TITLE If an in~ured owner of the indebtedness secured by a mortgage described in Sched- ule B acquires said estate or interest, or any part thereof, by foreclosure, trustee's sale, or other legal manner in satisfaction of said indebtedness, or any part thereof, Dr if a federal agency or instrumentality acquires said estate or interest, or any part thereof, as a consequence of an insurance contract or guaranty insuring or guarantee- ing the indebtedness secured by a mortgage covered by thi$ policy, or any part thereof, this policy shall continue in force in favor of such Insured, agency or instrumentality, subject to al1 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 la....., ordinance or governmental regulation (including hut not limited to building and zoning ordinances) restrining 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 ereCled on said land, or prohibiting a separation in ownership or a reduction in the dimensions or area of any lot or parcel of land. (b) Governmental rights' of police power or eminent domain unless notice of the exerci.~e 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 screets, roads, ave- nues, lanes, ways or waterways on which such land abucs, or the right to maintain thefCin vaults, runnels, r:Hnp:. or any other structure or improvement; or any rights or easements therein unless this policy specific- aHy provides that such property. rights or easements are insured, except That if the land abuts upon one or more l'hysically open streets or highways this policy imures The ordinary rights of abu{(in~ owners for access to one of stich streets Of highways, unless otherwise excepted or excluded herein. (d) Defects, liens, encumbrances, 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 to the Insured Claimant either at the date of this policy or at the date such Insured Claimant ac- quired an eswte or interest insurcd 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 co 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 (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 indebkdness 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 insured, which litigation or action in any of such events is founded upon an alleged ddccc, lien or encumbrance in- sured against by this p.olicy, 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 10 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 mongage 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 fairh contract to sell the in- debte(~ness ~ecured ?( a mortgage covered by tillS POliCY, or, I an Insured in good faith leases or contraccs to sell lease or mortgage the same, Of 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 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 Insur~d sh:IlI not. in writing, promptly notify the Comp.lny of any de- fecL lien or encumbrance inslued against which shall come to the knowledge of the Insured. or if the Insured sball nO!, 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; provideJ, however. that failure to notify shall in no case prejudice the claim of any In~ured unless the Company shal1 be actually prejudiced by such failure and then only t(1 the extent of such prejudice. (c) The Company shall ha~'e the right at its own cost to institute arid prosecute any action or proceeding or do any ocher 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 rake any appropriate aCTion under the terms of this policy whether or not it shall be liable thereunder anJ shall not thereby concede liability or waive any provision of this policy. (d) In al1 cases where this policy per- mits or requires the Company to prosecute or provide for the defense of any action or proceeding, the Insured sh;.tll secure to it the right to so prosecute or provide de- fense in such action or proceeding, and aU appeals therein, and permit it to use, at its option, the name of the Insured for such purpose. Whenever requested by the Com- pany fhe Insured shall give the Company al! reasonable aid in any such action or proceeding, in effecting setdemenc, securing evideoce, 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 ijl writing of any loss or damage for which it is claimed the Company is liable under this policy shal1 be furnished to the Company within SiXTY days after such loss or damage shall have been determined. and tlO' 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 the Insured under this policy unless action shall be commenced thereon within five year.~ after expiration of said Thirry day period. Failure to furnish such starement of los; 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 settle or compromise for or in the name of the Insured any c1"im insured against or to pay the full all1(Junc of this policy, or, in case loss is claimed under thi.\ policy by the owner of the indebtedne.\s secured by a mortgage covered by this policy, the Company shall have the option to purchase said indebtedness; such pur. chlise, payment or tender of payment of (Conditions and Stipulations Continued and Concluded on Last Page of This Palicy) mc TO 1012-1 AS C California Land Trtlo AssocIation Standard Coverage Policy 1963 SCHEDULE A Premium $ '10.0 <> Amount $ 2,000.00 Effective Date June 5, 1968 at 8:00 a.m. Policy No. 6739723 INSURED CITY OF ARCADIA, a municipal corporation. 1. Title to the estate or interest covered by this policy at the date hereof IS vested In: CITY OF ARCADIA, a municipal corporation. 2. The estate or interest ill the land described or referred to In Schedule C covered by this policy IS a fce. SCHEDULE B This policy does not insure against loss or damage by reason of the following: PART I 1. Taxes or assessments which are Dot shown as existing liens by the records of any taxing authority that levies taxe~ 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 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. 10 lO\2.\B ConI. C California Lond Title Association Standord Coverage Policy-I963 S C H E D U L E B - (Continued) PART [j 1. General and special county and city taxes for the fiscal year 1968-1969, a lien not yet payable. 2. Covenants, conditions and'restrictions in the deed Executed by : California Trust Company Recorded : in book 8233 page 115, Official Records Which provide that a violation thereof shall not defeat or render , invalid the lien of any mortgage or deed of trust made in good faith and for value. 3. Covenants, restrictions Recorded conditionsnand restrictions in the declaration of : in book 4862 page 344, Official Records and in book 5670 page 101, Official Records, prior to February 15, 1950 Whhch provide that a violation thereof shall not defeat or r~nder invalid the lien of any mortgage or deed of trust made in good faith and for value. 4. Covenants, Executed by Recorded conditions and restriction s in the deed : Florence E. Granville : in book 20485 page 34, Official Records. 5. 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 59 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 6. The following proVision of the deed from Harry A. White and Helen L. White, to the City of Arcadia, a municipal corporation, recorded in deed on June 5, 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 lOI2-1-J056-IC C American land Title Association loon Polley Additional Coverage-1962 0' California land Titl.. Association Standard Coverage Policy-1963 SCHEDULE C The land' referred to in this policy is situated in the county of Los Angeles, state of Califomia, and is described as follows: That portion of lot 1 of Tract 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 as described in the deed to Harry A. White and wife, recorded April 30, 1953, as instrument No. 2136, in book 41609 page 89, Official Records, of said county included within the following described land: Beginning at the northwest corner of said lot; thence easterly along the northerly line of said lot to ,the beginning ofa tangent curve, concave southeasterly having a radius of 15.00 feet, said curve also being tangent at its southerly terminus with '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 to the westerly line of said lot; thence northerly along said westerly line to the point of beginning. . . TO ~.34.VC . ~ eAR/BAlDI ~ AVP' \ ~ PALM r OR. &1 5.8 I~:. ''''. ~~ ~wj@ 11);; ;;$:f1~ ~ 7.1 eo Nor a PQr-f ~/~",,'\t~>'":'--- ~o~{f;'" arrlus fl'7:1ct <:1) /ii5:&.l>:;,~ ~^~ ,~"~~ ~ t::-1f};:fJ'j/ Z .9 4- E. ^~6 0 ' /~~/?i~ 5 ~~"", ^ .'.'../'.. 0" /' \f)~~ '\ !~ 01, H H ~s,. ~ ~ \ . .// r~i lL~'f~J ~ ^ )\ !.' I, 6191. ~ ') J \ 'I , I I 1/ J" '1 ' ~J ! ,% I'; lfj 1;.2 to 1 e;W"sr ;,J I~ L ," ,<,' ;80.71 I' I ~) J.3 2.4-4.4/ @;;, ~ () (), ~;\I.i: '^'~~r ~~ J4 ~\rj A'(\@!'A/' (@'( ~ () "~4'<'. _ \QJo/ J4Pi,~228.-:.5.' ~;<\~voo7 60 ~~~~ml@' }}*08D..eUF.F~ AVE. f I \ 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 af Policy Face) lhe full amount of this policy, together with all coSts, attorneys' fees and expenses which the Company is obligated hereunder 10 pay, shall terminate all liability of the Company hereunder. In the event, after notice of claim has been given to the Com- panr by the Insured, th~ 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 thi.~ policy shaH in no case exceed, in all, the actual loss of the Insllred and costs and attorneys' fees which the Company may be obligated hereunder to pay. (b) Thc Company will pay, in addition to any loss insured against by this policy, J.ll costs imposed upon the Insured in J iti- gation carried on by the Company for the Insured, and aU 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 (I) if the Company, after haviog received notice of an alleged defcct, 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 title is rejected as unmarketable because of a defect lien or encumbrance not excepted or exc'luded in this policy, until there has been a final determination by a COUf[ <:tf competent juris- diction sustaining such rejection. (d) All payments under this policy. ex- cept paymeocs made fot costs, attorneys' fees and expenses, shall l'educe the amount of the insurance pro tanto and no payment shaH be made without pt{)ducing this policy for endorsement of such payment unless the policy be lost or destroyed, in which case proof of such loss Or destruction shaH bc furnished to the satisfaction of the Com- pany; provided, however, if the owner of an indebtedncss secured by a mortgage shown in Schedule B is an Insured herein then such payments shall not reduce pw tanto thl: amount of the iosurance afforded hereunder as to such Insured, except to the extent that such payments reduce the amount of {he 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 (0 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 w 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 indebtednes.~ secured by a mortgage shown in Schedule B unless such Insured acquires {itlc to said estate or interest in satisfaction of said indebtedness or any part [hercof. 9, SUBROGATION UPON PAYMENT OR SETTLEMENT Whenever the Company shall have senleJ a claim under this policy, all right of sub- rogalion shall vest in the Company un- affected by any act of the Insured, and it shall be subrogated to and be entitled to aU rights and remedies which the Insured would have had against any petson 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 anr aCt of the In- sured, such aCt shall not ~'oid this policy, but the Company. in that event, shall be required co pay only that part of any losses insured against hereunder which shall ex- ceed the :lmounL if any, losl to the Com- pany by reason of the impairment of [he right of subrogation. The Insured, if rl:- quested by the Company, shall transfer to the Company aU rights and remedies a,gainst 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 anr transaction or litigation involving such rights or rt'medies. If the Insured is the owner of the in- dehtednes.~ 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 mberwise modify the terms' of paymem. or relcase a portion of [he estate or interest from the lien of the mortgage, or rdease any col- lateral security for the indebtedness, pro- vided such act does not result in any loss of priority of the lien of the rnort,gage. 10. POLICY ENTIRE CONTRACT Any accion or actions or rights of action that the Insured may have or may bring against the Company arising out of till: status of the lien of the mortgage covered by this policy or the title of the estate or imerest insured herein must be based 00 the provisions of this policy. 1\"0 provision or condition of this policy can be waived or changed except by writing endorsed hereon or attached hereto signed by the President, a Vice President, the SeCfd:uy, an Assistant Secretary or ocher nlidating officer of the Company. 11. NOTICES, WHERE SENT All notices required to be ~i...en tht, Com- pany and any statement in writing required to be furnished the Company sh;dJ be ;l{J- dressed to il at the office which issued this policy or to its Home Office. 433 South Spring Str(;et, Los An~eIes 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 POLICY OF TITLE INSURANCE Providing direct title services or referral services throughout the United States and the territory of Guam. Title Insurance and Trust Company