HomeMy WebLinkAboutD-1669
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STATE OF CALIFORNIA
.} $S.
County of Sacramento
'On
Mav 14'
'.68 .
, 19.---=
J. User
before me-the u-ndenigned, Q Notary Public in and for said County ~nd Stot~,
, known to me to be an Quth~.lzed officer who ex~cuted the
Veterans Affairs 'of the Stat~ of C~llfornio th~rein 'na.med; and acknowledged
G.
personally appeared
within instrume~t on behalf of the DepQ~tment of
that such department exeeuted the some.
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KATHRYN' HAENGGI
Nort.R'1 ri.!.!~lC ' CA~!fnRNIA
COUNTY OF'S~CRAh\ENrO
My__c:~m~issjol1 expire; ~p.r..,~, 1969
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T -77. Acknowledgement - Authoriud Officer
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CERTIFICATE OF ACCEPTANCE
~ K 04024 r G 818
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 May 7, 1968 , from or executed
by Hugo W. Velasquez, Elma Isabell Velasquez & Dept. of Vet~~fts 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
authorize officers. . j
~~~4-
City Engineer
The document thus
is hereby approved as to form.
~<.[~.
Cit orney Robert D. Ogle
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CITY OF ARCADIA
AND WHEN RIECORDED "'AIL TO
RECORDED IN OFFICIAL RECORDS
OF LOS ANGELES COUNTY. CALIF.
FOf1 TITLE INSURANCE & TRUST CO.
1968 AT 8 A.M.
JUN 7
I
City Clerk
P.O. Box 60
Arcadia, Calif.
6781172 ANL H8
I
Name
Street
Addrllu
RAY E. LEE, County Recorder.
City &
StoleL
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SPACE ABOVE THIS LINE FOR RECORDER'S USE
MAIL TAX STATEMENTS TO
City &
Sto'''L
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I FREE RECORDING
ACQUISITION BY
.,6103 Gov. Code
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PUBLIC AGENCY NO TAX STATEMENT
"~.
REQUESTED, ESSENTIA L TO
CITY OF ARCADIA,SEE
I
Name
,City of Arcadia
JUI'l
"lLOS
~<'ANGELE
I ..~TY
, 1:,;~b"_.~
~~UME~TARJ'J
'~STAMJ.'-:::}~~-""
Slrll.1
Add'lIu
Grant Deed
AFFIX I.R.S. $,1...65
...no.. 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,
HUGO W. VELASQUEZ,. ELMA ISABELL VELASQUEZ and DEPARTMENT OF VETERANS AFFAIRS OF THE
STATE OF CALIFORNIA
I FREE J-. t:. I
~~~.
~rebY GRANT(ll:) to the CITY OF ARCADIA, a Municipal Corporation,
/N FE&"
r eaaem.eBt for public street and road purposes,' to become a part
as Baldwin Avenue, in, on, upon and across
of and to be known
the following described real property in the
County of Los Angeles
CITY OF_ARCADIA,.
, State of California:
That portion of Lot 389 of Tract No. 6561, in the City of Arcadia, County of Los Angeles,
State of California, as per map recorded in Book 72, Pages 34 and .35 of Maps. in the
office of the County Recorder of said County described as follows:
Beginning at the southeast corner of said lot; thence westerly along the southerly line
of said lot to the beginning of a tangent curve, concave northwesterly having a radius
of 15.00 feet, said curve being tangent northerly to the westerly line of. the easterly
12.00 feet of said lot; thence northeasterly along said curve to said westerly line;
thence northerly along said westerly line to the southerly line of the northerly 50.00
feet of said lot; thence easterly along said last mentioned southerly line to the
easterly line of said lot; thence southerly along said easterly line of said lot to the
point of beginning.
Dated
7~y /7?;;?
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Veteran.~ ,,~;.ta~rs, of
Californta
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STATE OF CALIFORNIA }
COUNTY OF Til~ ANr:F.T.F.~ 55.
On ~" ~ / 9(;? before me, the under-
signed, a NoPa"ry P:lblic in and for said State, personally appeared
Hugo W. Velasquez, Elma Isabell
Vela s quez; &._~ QJ>'li';:':;;',.li .;:VQii.Qli'aR....;:A'jilia'~.]{8.
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By
. known to me
to be tbe perso~wbose name "~SUbse.'ibed to Ibe w;Lbin
instrument and acknowledged that executed the same,
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GRANT "DEED
Title Insurance
and .
Trust Company
COMPLETE STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL
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GRANT
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Title Insurance
and
Trust Company
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COMPLETE STATEWiDE TITLE SERVICE
WITH ONE LOCAL CALL
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MARK H, BLOODGOOD
AUDITOR_CONTR01.1.ER
1/-/b6:;
COUNTY OF LOS ANGELES
DEPARTMENT OF AUDITOR,CONTROLLER
ROBERT A. GILL
CHIEF DEPUTY
153 HALL OF ADMINISTRATION
LOS ANGELES, CALIFORNIA 90012
J R. PASSARELLA, CHIEF,
TAX DIVISlaN
625.3611
February 21. 1969
City of Arcadia
240 west Huntington Drive
Arcadia, California
RECEIVED
FEB 27 1969
.CITY. OF AReADI.!}
C!TY ATIORN~y'
Attention: Robert D. Ogle
City Attorney
Re: Baldwin Avenue Parcel No. 117
Hugo W. and Elma Isabel Velasquez and
Dept. of Veterans Affairs of the State
of California - Grantors
Gentlemen:
Pursuant to your letter dated June 24, 1968,
taxes have been cancelled in accordance with Section
4986 of the Revenue and Taxation Code. This cancel-
lation
Honorable Board of Super-
by Authorization No. 06318.
visors
was ordered by the
October 29, 1968
Very truly yours,
J~. BLOODGOOD, Auditor-Controller
By J. R. Passarella, Chief
Tax Division
JRP/EHP/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.
-I
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
Subject: Request for Cancellation of Taxes
Baldwin Avenue Parcel No. 117
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 60 91006
LIBRARY 20 W. DUARTE ROAD 91006
POLICE DEPARTMENT P. O. BOX 60 91008
FIRE DEPARTMENT 710 S, SANTA ANITA AVE. 91006
TELEPHONES
446.4471 . 681.0276
446.711'
447_2121
446.2128
TO 1012-1 Fe (10-67)
Californio land Title Association
Standord 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 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 srated 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 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
j, Any defect in [he 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 ch;lrge of said niortgage upon [he estate or interest referred to in this poiicy; or
..-1. Priority m'er said mortgage, at the date hereof, of any lieR or encumbrance not shown or referred
to in Schedule B, or excluded from coverage in the Conditions and Stipulations, said m'ortgage
being sho""n in Schedule B in the order of its priority;
all subject, howev:~~'t(;'1~")~~~lsil?r~ of Schedules A, Band C and to the Conditions and Stipulations'
hereto annex,&~ ~CE. AND rl/I. \'\l~
~~ ,,\>, 0000000 V-$ IiI
ff ~ ~ooo~t. ~Sb ~RO~~?o.r /) ~~~: . .
.::r ~ oO~.;~Q>.q.{>';~l!14l.flIJ1~ss(!PifereofJ Title Insurance and Trust Company has caused Its
!f '" oo;!' *1} ~corn5rat~8am.e~a6~d seal to be hereunto affixed by its duly authorized officers
#1 k.1 Or-J~ <zr: t'~h' 'cd'" ch -:'\ f.l d
~ -J OJ ~ ~_-i' on,t e a~s ownlln Sche ule A.
~ ~ g~;': 4~'~~::;~{;~-'<o . g ~ ~
~ \- 0 ~.<~fo~_.J;~~~i\f$~ ~_ g ""( ~
~ "0 .... ';ii:~<'b"0 ,'r' <J~ ~
~J -{I 007"" ':~-{f;"IIf}J",,";<:!\o ;} j::
(I, 0 <t. ,., ~~ 0 -
'I <'0 oo~rA TE IS GUooo ~'.E
~I ~ 00000000 'V'-V.;-.;."
1\\\ 4i\.1GELES, V ~-=
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Title Insurance and Trust Company
by
~~~~NT
Attest ~ N-~'
. 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 impured to the 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 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
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,
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
covered by this policy, or any part thereof,
this policy shall continue in force in favor
of such Insured, agency or instrumentality,
subject to aU 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
fl'gulation (including but not limited to
huilding and zoning ordinances) restricting
or regulating or prohibiting the occupancy,
use or enjoyment of the land, or regulating
the character, dimensions, or location of
any improvement now or hereafter erected
on said land, or prohibiting a separation in
ownership or a reduction in the dimensions
or are,l,of any lot or parcel of land.
(b) Governmental rights of police power
or eminent domain unless notice of the
t'xercise of such rights appears in the public
re(ords at the date hereof.
(c) Title to any property beyond the
lines of the land expressly described jn
Schedule C, or title to streets, roads, ave.
nues, lanes, wars or waterways on which
such land abUTS, or the right to maintain
therein vaults, tunnels, ramps or any other
structure or improvement; or any rights or
easements [herein unless this policy specific-
ally provides that such property. rights or
easements are insured, except that if the
land abuts upon one or more physically
open STreets or highways this policy insures
the ordinary rights of abutting o\vners fot
access to one of slich 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 [0 the Insured
Claimam either at the date of this policy
or at the date such Insured Claimant ac-
quired an estate or interest insured by (his
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 shaH provide (I) for
the defense of the Insured in all litigation
consisting of anions 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 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 estate or in-
terest or lien uf 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 mongage covered
by this policy, or, if an Insured in good
faith leases or contracts to sdL 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 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 CompJny of any de-
fect. lien or encumbrance insured a,gainst
which shall come to the knowledge of the
Imured, or if the Insured shaH 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 extent
of such prejudice.
(c) The Company shall have thc right
at its own cost co institute and prosecutc
any action or proceeding or do any other
act which in its opinion may be necessary
or desirahle to establish the tide of the
estate or interest or the lien of the mort-
gage as insured; and the Company may
take any appropriate action under the terms
of this policy whethcr or not 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 proseCUTe
or provide for the defense of any action
or proceedin,g, the Insured shall secure to
it the right to so prosecute or provide de-
fense in such action or proceeding. and all
appeals therein, and permit it to use, at its
option, the name of (he 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 settlemenc, 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
shaH be furnished to The Company within
sixty days after such loss or damage shaH
have been determined. and no right of
action shaH accrue to The Insured under
this policy until thirty days after such
statement shall have been furnished, and
no recovery shaH be had by {he Insured
under this policy unless action shaH be
commenced thereon within five years after
expiration of said thirty da( period. Failure
to 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-
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 claim insured
against or to pay the full amounc of this
policy, or, in case loss is claimed under this
policy by the owner of the indebtedne.~s
secured by a mortgage covered hy this
policy, the Company shall have the option
co purchase said indebtedness; such pur-
ch<ise, payment or tender of payment of
(Conditions and Stipulations Continued and Concluded on Lost Page of This Policy)
TO 1012-1 AB C
Collfomla Land Title Association
Standard Coverage Pollcy-1963
SCHEDULE A
Premium $ 40. 00
Effective
Amount $ 2.000.00 Date June 7. 1968 at 8 a. m. Policy No.
INSURED
CITY OF ARCADIA, a Municipal Corporation.
~~j~bl#330
Parcel No. 17
Tract 6561
South 1/2 of
Lot 389
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 in the land described or referred to in 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 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.
~f}
TO I012-1B Cant C
California land Title Association
Standard Coverage Pol icy-1963
.5 C H E D U LE. B - (Conlinued)
PART II
1. General and special county and city taxes
for the fiscal year 1968-1969, a lien not yet payable.
2. Covenants, condi'tions
of restrictions
'Recorded .
and restrictions in the declaration
Said covenants, conditions and
by reference thereto in a deed
Exec.uted By
Recorded
Prior to February 15, 1950
in book 2679 page 48, Official
Records .,
restrictions have been incorporated
California TrustnCompany
Prior td februa:ry 15, '1950 in book
10777' page 60, Official Re,cords
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. An action in the Superior
Commenced
Entitled
Case No.
Nature of Action
Affects
Notice of.the pendency of said
Recorded
Court .
March 22, 1968 '
City of Arcadia, a municipal
corporation, vs. ElIzabeth Rowse
Wilson; et al.
929015, County of Lo~ Angeles
For public use
Said land
action was
March 22, 1968 in book M-2807
page 805, Official Records as
Instrument No. 3066
A recital in tt).e deed from Hugo W. Velasquez, Elma Isabell Velasquez
and Department of Veterans Affairs of the state of California to
City of Arcadia, a Municipal Corporation; recorded June' 7, 1968
within recites that said land is:
For public street and road purposes, to become apart of and to be
known as Baldwin ,Avenue.
TO 1012-J-l0S6-1C C
American Land Title Association Loan Policy
Additional Coverage-J962 ,.
0'
California Lond Title Association
Standard Coverage PoJicy-J963
SCHEDULE C
The land referred to in this policy is situated in the county of Los Angeles,' state of California
and is describ~d as fonow~: _' -'. '
That portion of Lot 389 of Tract No. 6561, in the City
County 9f Los Angeles,. State of California, as per.map
book 72, pages 34 and 35 of Maps, in the office of the
Recorder of said County described as follows:
Beginning at the southeast corner of said lot; thence westerly along
the southerly line of said lot to the beginning of a tangent curve,
concave northwesterly having a radius of 15.00 feet, said curve
beingtangerit northerly to the westerly line of the easterly 12.00
feet of I{aid lot; thence northeasterly along said curve to said
westerly "line; thence northerly along said westerly line to the
southerly lIne of the northerly 50.00 feet of said lot; thence
easterly along said last mentioned southerly line to the easterly
line' of said' lot; . thence southerly along said easterly iine of said
lot to the point of beginning.
of Arcadia,
recorded in
County
.
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TRACT No. 656/
M",I' Book 72, Pages 34 & 35
LOTS 383 To 459
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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 Cancluded From Reverse Side of Policy Face)
the full amount of this policy, together
with all costs, attorneys' fees and expenses
which the Company is obligated hereunder
[Cl pay. shall terminate all liability of the
Company hereunder. In the event, after
notice of claim has been given w 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 the Insured and COStS and
atwrneys' fees which the Company may be
obligated hereunder to pay.
(b) The Company wilJ pay, in addition
to any loss insured against by this policy,
;lll costs imposed upon thl' 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 or excluded herein remove.~
such defect, lien or encumbrance within a
reasonable time after Teceipt 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 rejected as
unmarketable because (if 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, 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 .~halJ
be furnished to the satisfaction of the Com-
pany; provided, however. if the owner of
an indebtedness secured by a mot[ga.l:e
shown in Schedule B is an Insured herein
then such payments shall not reduce pf(l
tanto the amount of the insurance afforded
hereunder as co such Insured, except to the
extent that such payments reduce the amount
of the indebtedness secured by such. mOt[-
gage. Payment in fuJl by any person or
voluntary satisfaction or release by the In.
sllled 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 with the conditions of
this policy the loss OT 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 {he 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 estale or interest
described or referred to in Schedule A, and
the amouO[ 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 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 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 subro~ated to such right.~ and
remedies in the proportion which said pay-
ment bears to the amount of said loss. If
loss should result from an}' act of the In.
sured. such act shall not void this policy.
but the Company, in that event. shall be
required to pay only thaI part of any losses
insured against hereunder which shall ex-
ceed the 'amount. if any. losl lO the Com-
pany by reason of the impairment of the
right of subrogation. The Insured, if re-
quested by the Company, shall trilnsfer to
the Company all rights and remedies
against any person or property necessary in
order to perfeCt such right of subrogation,
and shall permit the Company to use the
name of the Insured in any transaction or
litigation involving such rights or remedies.
If the Insured is the owner of the in-
debtedness secured by a mortgage covered
by this policy, such Insured may release or
substitute the personal liability of any
debtor or guarantor, or extend or otherwise
modify the terms of paymem, 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 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 tille of the estate or
interest insuwd herein must be based on
the provision,~ of this policy.
No provision or condition of this policy
call be waived or changed except by writing
endorsed hereon or attached hereto signed
by the President. a Vice President, the
Secretary, an Assistant Secretary or other
\'alidating officer of the Company,
11. NOTICES, WHERE SENT
All notices requireiJ to be given the Com-
pany and any stateml'nt in writing 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 54, California.
17. THE PREMIUM SPECIFIED IN SCHEDULE
A IS THE ENTIRE CHARGE FOR TITlE SEARCH,
TITlE EXAI."'iINATION AND TITLE INSURANCE.
@
Title Insurance and Trust Company
FOUNDED IN ,6,.,3
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 Spriug Street
Los Angeles, California 90054
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