HomeMy WebLinkAboutD-1676
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CERTIFICATE OF ACCEPTANCE
~~ D-405nb 166
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 June 12. 1968 PoHpr"oWom or executed
by Wanda J. Bradley, Executrix of the Estate of Katherine /, is hereby accepted
by the City of Arcadia by the order or authorization of the City Council of the
City of Arcadia contained in.Reso1ution 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.
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City Engineer
is hereby
approved as to form.
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\~ECORDrNG REQUESTED BY
City of Arcadia
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RECORDED IN OFFICIAL RECORDS
OF LOS ANGELES COUNTY, CALIF.
FOR TITLE INSURANCE & TRUST CO.
AI'>!D WHEN RECORDED MAIL TO
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Nom. City Clerk
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JUL 8
1968 AT 8 A.M.
Str..t
.4.ddren P.O. Box 60
Ci~rot~ L Arcadia, Calif.
RAY E. lEE, County Recorder
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SPACE ABOVE THIS LINE FOR RECORDER'S USE
Nome Ci ty of Arcad ia
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"'lAII.. TAll. STATEMENTS TO
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City &
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AFFIX I.R.s, $
....IN THIS SPACE
Grant Deed
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TO .405 C
THIS FORM FURNISHED ~Y TITLE INSURANCE AND TRUST COMPANY
of $1,605.60 cash,
FOR A ~ CONSIDERATION/receipt of which is herehy acknowledged,
WANDA J. BRADLEY, as Executrix of the Will of KATHERINE PATTERSON, Deceased,
hereby GRANT(S)JllX and Conveys to CITY OF ARCADIA, a municipal corporation,
all right, title and interest of decedent at the time of her death, and all
right, title and interest that the estate may have subsequently acquired by
operation of law, or otherwise in and to
the following descrihed real property in the C;lty o.f. Arp~ia
County of Los Angeles , State of California:
The easterly 12.00 feet of the south 98 feet of Lot 4, in Block "0"
of Santa Anita Land Company's Tract, in the City of Arcadia, County
of Los Angeles; State of California, as per map recorded in Book 6,
Page 137 of Maps, in the office of the County Recorder of said County.
THIS DEED IS MADE Pursuant to the Order Authorizing Executrix to Convey
Real Property to Municipal Corp~ration made in the matter of the estate of
said decedent in Case No. NE P-7965, Superior Court of Los Angeles County,
State of California, entered on June 12, 1968, a certified copy of which
Order will be recorded contemporaneously herewith in the office of the
County Recorder of said County, to which reference is hereby made.
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FREE RECORDING REQUESTED ESSENTIAL
TO ACQUISITION BY CITY OF ARCADIA.
SEE GOVT. CODE #6103.
DOCUMENTARY TRANSFER TAX $uo<.,."?'~uu..u I
/7// . '-1. >.L. Title Insurance anJ
_~4<A.._l~ _ Trust C~rnpan~
SIGNED - PARTY ~R AGENT /)FI~M NftE
As instructed by ~ ?g:.._.u~ ...
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Dated
June 12
. 1968
Dec'd.
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5T ATE OF CALIFORNIA }
COUNTY OF ToO!'! ANr.F.T.F.!'l SS.
On Jt1n~ 12 I 1 ql\R, before me, the under-
signed, a Notary Public in and for said Stale. personally appeared
...w.ANnll..1 RRll.nT.F.V
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to lJC the person_whose nam'" ; c:
instrument and~edged lhat Qhe-
, known to me
suhscribed to the withill
executed the same., as said
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R. C. lESOVSKY
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NOTARY PURl Jr . ('4111:I"\D"'14
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GRANT DEED
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Title Insurance
and
Trust Comp~ny
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COMPLETE STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL
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GRANT DEED
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. Title Insurance
and
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COMPLETE STATEWIDE TITLE SERVICE
WITH ONE LOCAL CALL
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MARK H. BLOODGOOD
A.UDITOR.CONTROLLER
COUNTY OF LOS ANGELES
DEPARTMENT OF AUDITOR-CONTROLLER
153 HALL OF ADMINISTRATION
LOS ANGELES. CALIFORNIA 90012
625.36 t 1
March 27, 1969
City of Arcadia
240 West Huntington Drive
Arcadia, California 91006
Attention: Robert D. Ogle
City Attorney
Re: Baldwin Avenue
Parcel No. 76
Gentlemen:
Pursuant to y('ur letter dated July 29, 1968,
taxes have been c~lce~12d Dl acc~rdance with Section
4986 "r the Revenue and Ta,-'(ati"n Code. This cancel-
la.tion was ordered by the Honorable Board ()f S'J.per.-
vis,ors Nov. 19, 1968 by Auth',rbation No. 06776.
Very truly y :urs,
Auditor-Contr011er
~ BLO~DGOOD,
~J J. R. Passarella, Chief
Tax Divisi0n
JRPjEMP/ejn.
J)-/' / lP
ROBERT A. GILL
CHIE':F DEPUTY
J. R. PASSARELLA. CHIEF.
TAX DIVISION
RECEiVED
APR - 2 1969
CITY OF ARCAulA
. .ClT'C .~TIORNEY
'-
CITY COUNCIL
DON W. HAGE
MAYOR
City of Arcadia
C. ROBERT ARTH
"'AYOR PRO TEM
EDWARD L. BUTTERWORTH
ROBERT J. CONSIDINE
JAMES R. HELMS, JR.
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240 WEST HUNTINGTON DRIVE
ARCADIA, CALIFORNIA
LYMAN H, COZAD
CITY MANAGER
CHRISTINE VAN MAANEN
CITY CLERK
July 29, 1968
Mr. John R. Passarella,
500 West Temple Street,
Los Angeles, California
Auditor-Controller
Room 153
90012
Attention:
Eleanor Parker, Tax Cancellation Section
Subject:
Request for Cancellation of Taxes
Baldwin Avenue Parcel No. 76
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.
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MAILING ADDRE~SE5
CITY HALL P. O. BOX 60 91006
LIBRARY 20 W. OUARTE ROAD 91006
POLlCE DEPARTMENT P. O. BOX 60 91006
FIRE DEpARTMENT 710 S. SANTA ANITA AVE. 91006
TELEPHONES
446.4471 . 681-0276
446.711'
447.2121
446_2128
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THE DOCUMENT TO WHICH.!H!S:C;ERT!m,C~T!i.'IS..AT- ':- :,':~':,
TACl-iED IS A FUll, TRUE AND:C()~~,E~~'!!,9PY~ OF .THE, _ , '
ORIGINAL ON FILE AN~?t'~rUU~;~~W~9{fe'C~~:,': ,,: .
SAME HA Vllili.QEENF!~ffi3:g;;r''i,:,,\:,,''':'h'''~:''-''-:-:': ' :'" '
ArrEST ~.n~.~~VJl.l'?~~'~;~~:-~~~'~~f~~~i~f'~t;.,~:~~~~\}.~ ~n~~~~:,~-:::~'~~. " ~ ),
WILLI'! ,~RP,' C~~ni1 , ";;'l~I.'.,o/ .'~p.,;""::,,
11 .' C of.. staJtI,af. . n!9,~1n on~, .
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BY.
LAW OI='FICES.
FRANK s. WHITING:
UNION BANK PLAZA
201 SOUTH LAKE AVENUE
PASADENA. CALIFORNIA SIt lOt
TltU:PHONS: 79.2.:.2.011 OR 681~3ISS.
Attorney fo< Executrix
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P-7965
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SUPERIOR COURT ,OF THE STATE OF CALIFORNIA
FOR THE COUNTY OF LOS ANGELES
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In the Matter of the Estate
KATHERINE PATTERSON,
"'Deceased.
of)
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No; NE
ORDER AUTHORIZING EXECUTRIX TO
CONVEY REAL PROPERTY TO
MUNICIPAL CORPORATION
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The Petition for Authority to Convey Real Property to
Municipal 'corp~rat~onof }'landa J. Bra~l~y; E,xecutrix ofe ~he Esta;t;,e.
of Katherine Patterson, deceased, Frank S. :Whitipg Bppearing.as
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attorney, for 'said pet! tioner i :,coming on regularly. to be heard the
7th day of June, 1968, t~e Court, after examining the petiti9n
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and considering the. eV~dence, finds t'hat due notice of the hearing
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of such Petition has b~en.given as required by
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the allegat'ioris of said Pet! tion are- true: ( .:
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law; and. that all
IT IS.ORDERED hy the ~ourt~h~t Wanda J. Bradley,
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Executrix of the within Estat~,be ,and ~he hereby is authorized
to convey to the City oli',Arcadia;' a ,municipal corpora,tion, for
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the sum of$1~605.60, the reai property hereinafter described, and
that upon receipt of the'price aforesaid, Wanda J.' Bradley,
Executrix of sai~ estate, execute to said purchaser a deed of,
The property so conveyed is situated in the County of
conveyance thereof.
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Los Angeles,. State of California, . and described as follows:'
The easterly 12.00 feet of the south 98 feet of
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LAW OFFICES
FRANK S..WHITING
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'Lot 4, in',B1ock,nO" of Santa Anita LancI:' ,,'" ...:'
Company's Tract, in the City ,of Arcadia;',,'I(H<:i'.:\ ;'li) ,'~'T'.','
County of Los Angeles, State of:;,:~a],;i~Q~nJa":"1i ;':<,.",., ":'.
as, per mapz:ecorded in, Book, 6, Page q7 (<;>;31.;::':: "jl,i::'i':'l~\
Maps, in the office of the County Recorder '
of said' County. " ,
J~ne'~; 1968
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NeBIA
Judge of the Super or Court.
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RECOROED IN ' '
: or: LOS ANGEL OFFICIAL RECORDS
'FOR TiTlE IN'SU~~N~~UNn, CALIF,
" , " & TRUST CO,
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','/',)0':< RAYE; tEE' :' '
:",:_ ,;,': ,.t,',,---, ",' Coun,)' Recorder'
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WHEN RECORDED MAILED TO:
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CITY OF ARCADIA
240 West Huntington'Drive'
Arcadia, California
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TO 1012 Fe (7-bS)
Cafiforni" land Tifle Associ/lfion
St"nd"rd Covero!lge Policy Form
Copyright 1963
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 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 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 defecc 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 Condirions 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 01" interest referred (0 jn this poljcy; Or
4, Priority over said mongage, 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;
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all subject, how~er:- tOc.the proVISions of Schedules A, Band C and to the Conditions and Sttpulations
hereto annexea-::-' ....~t.<- AND T-9""'\\11
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;' -::> 000 "'€. IS PIIO'!..oo r "
"t1III'!' G:> 00 ~O .o.(l-b:q.*, '^"on 0. j
j:f ~ o,~ .... .,.1lBEJ1ln~ WttnessCWhereof, TItle Insurance and Trust Company has caused its
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~ t...J ~;...;, >} cor~rate" name an'd seal to be hereunto affJxed by its duly authonzed offJ(ers
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~ I- 0 ~ > onlt~e~g,9wnltn Sc e ule A.
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~II {t: \:S.;' :;.t~ ..J w'~~oo )} jf Title Insurance and Trust Company
III (oOo~ii;i~',~'G~~:oo~'f
tll :s -4 000000 t.~v 5
\\\\ NGELES. $'
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by
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PRESIDENT
Attest
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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 thcrt'w which by law
constitute real property;
(b) "public records": those records
which impart constructive notice of matters
(elating to said land;
(c) "knowledge": actual knowledge, not
constructive knowledge or notice which
may be imputed to the Insured by reason
of any public I ecords;
(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 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 leg<1] manner in satisfa([ion of
said indebtedness, and (3) any federal
agency or instrumentality which is an in-
surer or guar;1ntor under an insurance con-
tract Of 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 imured owner of the indebtedness
secured by a mortgage described in Sched-
ule B acquires said estate or interest, or
;toy part thereof, by foredosuce, trustee's
sale, or other legal manner in satisfaction
(If 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
(overed 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 ooc 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 en>cred
on said land, or prohibiting a separation in
ownership or a reduction in the dimensions
or arC,1 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 streets, roads. ave.
nues, lanes, ways or waterways on which
such land abuts. or tbe right to maintain
therein vaults. tunnels, nmp~ ('If any other
structure or improvemem; or any rights or
easements thercin unless this policy specific,
ally provides that such property, rights or
casements are insured. except that if the
land abuts upon one or morc I'hysicaily
open srreets or highways this policy insures
the ordinary rights of abuttin,r: owners for
access to one of such streets or highwaj's.
unless otherwise excepted or excluded
herein.
(d) Defects, liens, encumbrance!>, adverse
claims against the title as insured or other
matlers (1) created, suffered, assumed oc
agreed to by the Insured claiming loss or
damage; or (2) known to the Insured
Claimant eithec 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 lhe public records,
unless disclosure thereof in writing hy 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
ro 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 ANO 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 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 reson.
(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 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 poliLy. or if the Insured
shall in good faith contract to sell the in-
debtedness secured by a murtgage co\'ered
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 s.uch 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 tbe Insun:d shall not, in writing,
promptly notify the Company of any de-
feCI. lien or encumbrance insured a~ainst
which shall come to lilt knowledge of the
Insured, or if the lnsured shall not, in
writing, promptly notify the Company of
any stlch 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 sball
cease and terminatt'; 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 ((1 the extent
of such prejudice,
(c) The Comp<.1ny shall have the ri~ht
at irs own cost to institute and prosecute
any action or proceeding or do any other
act which in its opinion may be necessary
or de:;itable to establis.h the tide of the
estatt' or interest or the lien of the mort-
gage as insured; and the Company may
take any appropciacec action under the terms
of this policy whether or not it shall be
liable (hereunder and shall nor thereby
concede liability or waive any provision of
this policy.
(d) In all cases where this policy per-
mits or requires the Company to prosecute
or provide for the defense of any action
or proceeding, The Insured shal1 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 the Insured for such
purpose, Whenever requested by the Com-
pany the Insured shall give the Company
aU reasonable aid in any such action or
proceeding, in effening 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 d
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 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 years after
expiration of said thirty day period, Fai]ure
to furnish such statement of loss or damage,
or to commence such anion within the
time hereinbefore specified, shaH be a con-
clusive bar against maintenance by the In-
sured of any anion under this policy.
6. OPTION TO PAY, SETTLE OR COMPRO-
MISE CLAIMS
The Company shall have lhe option to
payor settle or compromise for or in the
name of the Insured any claim insured.
against or to pay the full amount of this
policy, or, in case loss is claimed under thi.~
policy by the owner of the indebtedness
secured by a mortgage covered by this
policy, the Company shall have the option
to purchase said indebtedness; such pur-
chase, payment or tender of payment of
(Conditions and Stipulations Continued and Concluded on Last Page of This Policy)
TO 1012-1 AS C
.' California Land Title AssociatIOn
Standard Coverage Policy 1963
SCHEDULE A
Premium $ S'5 .0'0
Amount $ 2, 000 .00
Effective
Da~ July 8, 1968 at 8 a.m.
INSURED
Policy No. 6739759
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 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 Dot 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. Discl:"epancies, conflicts in boundary lines, shortage in area, encroachments, or any other facts which a
correct survey would disclose, and which are 'Oat 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.
BO
TO 1012,.18 Cont. C
CcIHfQrn1a Land Tille Auociation
Standc:srd Coverage PCllicy-1963
S C H ED 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. Right of way for laying and operating a pipe line for con-
veying water to and through said property, aB reserved in the
deed from Santa Anita Land Company, a corporation, to John
C. Schultz, dated November 14, 1905 and recorded January 5,
1906 in bOOK 2516 page 206 of Deeds. The certificate of which
this is a continuation recites: "Said right of way has passed
to and is now vested in Edward C. Cribb and R. T. BrodeK by
deed rec;:orded in bOOK 3035 page ;l!92 of deeds."
3. An action in the
Commenced
Entitled
Superior Court
March 22, 1968
City of Arcadia, a municiapl corporation
VB. Elizabeth Rowse Wilson, ~ al.,
929015 county of Los Angeles
cond~mnation for public use
Parcel 76
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
4. The following provision of the deed from Wanda J. Bradley,
as Executrix ,of the Will of Katherine Patterson, deceased,
to City of Arcadia, a municipal corporation, recorded July
8, 1968: "Grants the City of Arcadia, a municipal corporation,
in fee for public street and road purp,oses, to become a part
of' and -to be Known as Baldwin Avenue. I -
.
'10 JOI2-r-I056-1C C
American land Title Associotion loen Policy
Additional Caverage- 1962
oc .
CalHarnia Lend Title Association
Stan<:/ard Coverage Policy-1963
SCHEDULE C
The land referred to in this policy is situated in the county of Los Angeles, state of California,
and is described as follows:
The easterly 12.00 feet of the south 98 feet of Lot 4, in blOCK
"0" of Santa Anita Land Company's.Tract, in the city of Arcadia,
county of Los Angeles, state of California, as per map recorded
in bOOK 6 page 137 of Maps, in the office of the count~ recorder
of said county.
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This is nolia 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)
the full amount of this policy, together
with all COStS, attorneys' fees and expenses
which the Company is obligated hereunder
to pay. shall terminate all liability of the
Company hereund~r. In 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 aClUa] 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
Iosured, 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 (I) if
lhe 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 aftCf receipt of such notice,
or '(2) for liability vo]untarily assumed by
the Insured in settling any claim or suit
without written consent of the Company.
or (3) in the e\'ent 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 cosrs, attorneys'
fees and expenses, shall reduce the amount
of the insurance pro tanto and no payment
shall b~ 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 hy a mongag~
shown in Schedule B is an insured herein
th~n 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 r~duce the amount
of the indebtedness secured by such mort-
gage, Payment in full by any person or
voluntary satisfacrion 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, excepr 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.
ahle within thirty days thereafter.
8, LIABILITY NONCUMULATIVE
It is expressly understood that the
amount of this pn]icy 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 (Q in Schedule A, and
the amount so paid shall bc deemed a par-
mcnt to the Insured under this policy, The
provisions of this paragraph numbered 8
shall not apply to an Insured owner of .10
indebtedness secured by a mortgage shown
in Schedule B unless such Insured acquiJ"(.'~
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 sealed
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 he entitled to
all rights and remedies which the Insured
would have had against any person or prop-
erty in respect (Q 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 an\' an of the In-
sured. such act shall not ~oid this policy,
but the: Company. in that event. shall be
required to pay only that part of any losses
insured against hereunder which shall ex-
ceed the :IlTIount. if any. lost to the Com-
pany by reason of the- impairment of the
right of subrogation. The Insured. if re-
quesreJ by the Company, shall transfer 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 tbe I nsureJ is the owner of the In-
debtedness secured by a mortgage covered
by this policy. such Imured may release or
substitute the personal liability of any
debtor or guarantor, or extend or otherwise
modify the terms of payment, or relcase
a portion of the estate or interest from the
lien of the mortgage. or release any col-
]ateral security for the ind~btedn('ss, pro-
vided such act does not result in am' 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 tide of the estate or
imcrest insured herein must be based on
the provisions of this policy.
No provision or condition of this policy
can be waived or changed except by writin.l':
endorsed hereon or attached hereto signed
by the President, a Vice President, the
Secretary, an Assistam Secretary or Other
validating officer of th(' Company,
11. NOTICES, WHERE SENT
All notices required to be givt'n Ihl' COlll-
pany and any statement in writing required
to be furnished the Company shall be ad-
dressed to it at the officc which i.~Slled this
policy or to its HOllle Office, 433 South
Spring Street, Los Ange]es 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